BiggerPockets Money Podcast

FIRE at 50 by Creating “FI Paychecks” That Fund My Early Retirement! | Life After FIRE

Apr 2, 2025

Mark Trautman, an early retiree who achieved financial independence at 50, shares his unique journey and insights on creating "FI paychecks" that sustain his lifestyle without relying heavily on his savings. He emphasizes that true FIRE isn’t just about money—it's about spending meaningful time with loved ones. Mark's ‘Fun Bucket’ allows for worry-free enjoyment, and he advocates for delayed retirement to enhance financial security. His experience shows that a thoughtful approach to retirement can lead to joy and freedom.

45:57

Episode guests

Mark Trautman

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Episode notes

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Quick takeaways

Mark Trautman's approach to achieving financial independence emphasizes balanced saving and spending rather than extreme frugality to ease retirement transitions.

The concept of a 'fun bucket' not only enhances enjoyment in retirement but also allows for guilt-free spending on enriching experiences.

Deep dives

Journey to Financial Independence

Mark Troutman achieved financial independence after a 28-year career in finance, culminating in his retirement at age 50. Rather than adhering to extreme savings rates typical in the FIRE movement, he focused on keeping a balanced approach to spending, saving, and taxes. Throughout his career, he maintained a consistent savings rate of about 33%, allowing him to comfortably transition into retirement without overwhelming concern over financial constraints. Mark's experience illustrates that financial independence can be reached without extreme frugality, as understanding gross income and managing expenses effectively can also lead to success.

Intro

3min

Navigating Early Retirement

8min

Investment Opportunities and Financial Tools for Landlords

2min

Insights on Early Retirement and Emotional Resilience

10min

Building Sustainable Income Streams for Early Retirement

4min

Navigating Joyful Retirement Finances

18min

Would you delay your early retirement for years to feel safer and secure once you FIRE? That’s what Mark Trautman did, FIRE-ing before discovering the FIRE movement was even a thing. While he could have retired in his 40s, Mark pushed his retirement date to 50, retiring with a conservative withdrawal schedule that even beats the 4% rule. But, thanks to being invested throughout his retirement, Mark has blown past even his Fat FIRE dreams, spending what he wants, when he wants, without a worry!

But it wasn’t the money that made Mark thankful for FIRE. Mark was able to be right next to his wife and even his father during their last days, being fully dedicated to them and not worrying about a job or paycheck he had to go after. This is the TRUE point of FIRE, and living like Mark could have the same powerful impact on you.

Speaking of paychecks, Mark’s “FI paychecks” are fueling his retirement, so much so that he barely (if ever) needs to withdraw from his retirement portfolio. How is this completely passive cash flow funding his life? Copy Mark’s strategy, and you could be Fat FIRE by 50, too!

In This Episode We Cover

The “FI paychecks” you should set up once you’re near early retirement

Why FIRE is about MORE than money; it’s about time with the ones you love

Mark’s “Fun Bucket” for worry-free spending on life-changing experiences

Why delaying your early retirement could help you FIRE without money anxiety

The one inflation/market downturn hedge Mark uses that provides him with passive income

Early retirement healthcare and how Mark pays for health insurance without employment

And So Much More!

Links from the Show

Mindy on BiggerPockets

Scott on BiggerPockets

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