BiggerPockets Money Podcast

559: How I Retired in My Mid-30s While Working Just 4 Hours a Week

Aug 30, 2024

Diania Merriam, a Coast FIRE achiever who retired in her mid-30s while only working four hours a week, shares her inspiring journey from being $30,000 in debt to living life on her terms. She emphasizes achieving early retirement without needing millions in savings and encourages listeners to take calculated risks. Diania discusses the importance of financial preparation for quitting a draining job and dispels myths around self-employed health insurance. Her transformative experience redefines retirement as a pathway to creativity and personal fulfillment.

34:03

Episode guests

Diania Merriam

AI Summary

Highlights

AI Chapters

Episode notes

Podcast summary created with Snipd AI

Quick takeaways

Diania Merriam transitioned from corporate America to self-employment by paying off $30,000 in debt and prioritizing financial education and wellness.

She emphasizes redefining retirement as creating a fulfilling life rather than solely achieving financial independence, focusing on skills and mindset.

Deep dives

Discovering Financial Independence

Diana Merriam's journey toward financial independence began when she noticed a staggering $30,000 debt after running a credit report at 28 years old. Horrified by her situation, she started researching financial management strategies, motivated by a desire to take time off work for a personal pilgrimage. Encountering the Mr. Money Mustache blog offered her a new perspective; she realized she was squandering her financial privilege while living in New York City. Inspired by this awakening, Diana managed to pay off her debt within 11 months and began saving and investing a substantial part of her income.

Transform Personal Expenses into Business Deductions

01:18

Intro

3min

Courage to Pivot: A Journey on the Camino

8min

Navigating Health Insurance and Real Estate Opportunities

6min

Redefining Success: Beyond Money

6min

Planning for Financial Security and Passive Income

4min

Rethinking Financial Independence

5min

Ticket Sales and Membership Eligibility Announcement

2min

What if you could “retire” early, working only FOUR hours a week? Coast FIRE achiever Diania Merriam did just that! After a decade of hustle in corporate America, Diania found herself financially behind with $30,000 in debt. Dreaming of a life-changing adventure but lacking the funds, she decided to overhaul her finances. Fast forward, and now in her mid-thirties, she’s debt-free, successfully self-employed (or, as she puts it, happily “unemployed”), living life on her terms.

So, how did Diania save enough to walk away from her nine-to-five? The answer might surprise you. She didn’t need millions in the bank, and neither do YOU, to embrace early retirement. Diania asks, “Do you have enough to take a risk?” If you do, you could live the Coast FIRE lifestyle, just like her, working minimal hours and maximizing time freedom.

Ready to slash your workweek and dive into what you love? Stick around—by following Diania’s example, early retirement could be within your reach, EVEN if you’re just getting started on your FIRE journey!

In This Episode We Cover

Why you must be financially prepared to quit a soul-sucking job

Achieving Coast FIRE without millions in the bank and how to be happy living off of little

Why self-employed health insurance isn’t as big of an expense as most people think

Burning out before you hit FIRE and why being hyper-fixated on a financial goal could kill your drive

How starting your own business can save you a ton on taxes

How to “retire” early without replacing your full-time salary

And So Much More!

Links from the Show

BiggerPockets Money Facebook Group

Network with Other Investors on The Path to FIRE Through the BiggerPockets Forums

Finance Review Guest Onboarding