BiggerPockets Money Podcast Early Retirement “Traps” That Delayed My FIRE by a Decade
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Apr 15, 2025 Diana Hummel, an inspiring advocate for early financial independence, shares her journey to retiring at 45, a decade earlier than expected. She discusses the pivotal moments following her parents' passing that ignited her FIRE journey. Listeners will learn about strategic withdrawals from retirement accounts, utilizing the 72(t) method, and navigating healthcare challenges for early retirees. Diana also highlights common pitfalls to avoid and reveals how smart tax planning can fast-track your retirement dreams, all while balancing life and entrepreneurship.
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Financial Automation
- Automate rent collection, track transactions, and gain cash flow visibility with Baselane's platform.
- This frees up time to scale your real estate portfolio more efficiently.
Parents' Early Passing
- Diana's parents passed away shortly after retiring, unable to enjoy their planned travels and family time.
- This prompted Diana and her husband to re-evaluate their own lives and seek earlier financial independence.
Balancing Saving and Spending
- Prioritize saving by paying yourself first through automatic contributions to various accounts.
- Balance saving with enjoying life's experiences and family time.