BiggerPockets Money Podcast

In this engaging discussion, Karsten Jeske, aka "Big Ern," an early retiree and expert on safe withdrawal rates, challenges the widely accepted 4% rule for retirement. He shares insights on why even he doesn't follow it, suggesting a more comfortable withdrawal rate for early retirees. Karsten emphasizes the need for adaptability in withdrawal strategies amidst today's volatile markets, discusses diversifying portfolios with cash-flowing assets, and presents differing views on whether to pay off mortgages or invest. Essential advice for aspiring FIRE followers!

Mark Livingstone, an investor and data analyst, dives into how taxes in retirement are less daunting than most people believe. He reveals insights from his free tax spreadsheet that predict retirement tax burdens. The discussion highlights the differences between marginal and effective tax rates, showing that early retirees often pay less tax today than in previous decades. Mark also shares strategies to optimize withdrawal methods and explains the four income ‘levers’ for tax-friendly financial planning in the FIRE journey.

In this episode, Ale Ayestaran, the new CEO of BiggerPockets and former leader at one of the largest property management firms, shares insights on transitioning leadership and his inspiring career journey from Patagonia to tech. He discusses the evolving landscape of real estate, highlighting how technology is revolutionizing property management and investor experiences. Ale emphasizes the vital role of community support during these changes and the importance of AI in enhancing user interactions and investment strategies.

JL Collins, author of the influential book The Simple Path to Wealth, shares his wisdom on achieving financial independence through straightforward investing. He emphasizes the importance of a balanced portfolio of index funds and bonds, particularly for those nearing retirement. Collins also tackles common concerns about high market valuations, the role of alternative investments like real estate and cryptocurrency, and the psychological aspects of investing. His insights offer a reassuring roadmap for anyone pursuing financial freedom.

Amberly Grant, a financial aid expert, shares her deep knowledge on funding college education while pursuing financial independence. She discusses the intricacies of FAFSA and compares 529 plans with UTMA accounts, offering insights on choosing the best option for tax savings. The trio explores how to uncover 'free money' through grants and scholarships, and they emphasize balancing college funding with retirement goals. Listeners gain a roadmap for making informed financial decisions that align with both education and long-term wealth aspirations.

Chris Luger, an early retiree in his 40s and founder of Heavy Metal Money, shares his inspiring journey to financial independence after a life-altering divorce. He reveals how he saved and invested 70% of his income over seven years. Chris discusses his unique passive income stream that allows him to live without touching his retirement portfolio. He also highlights the emotional aspects of retirement, the importance of a robust financial strategy, and the need to prepare for market fluctuations while enjoying life after FIRE.

Tyler Gardner, a former portfolio manager and financial advisor, shares valuable insights on retirement planning. He challenges the 4% rule, arguing its rigid nature might jeopardize financial security for early retirees. Gardner emphasizes the need for flexibility in withdrawal strategies, advocates for a more robust FIRE portfolio, and highlights the importance of having a financial cushion. He also discusses the psychological complexities of retiring early and suggests alternative investment strategies, including a focus on stocks and real estate.

Chris Rusin, an early retiree who achieved financial independence before discovering the FIRE movement, shares his remarkable journey. He reflects on a life-changing encounter with a wealthy investor that shifted his focus from money to meaning. Chris recounts thrilling adventures, from treasure diving with Navy SEALs to unearthing dinosaur fossils. After facing cancer, he fulfilled a dream by releasing his first album. The episode concludes with a live premiere of his new song, showcasing his creative rebirth and the joys of life after retirement.

Tyler Gardner, a former portfolio manager and financial advisor, shares his insights on the FIRE movement. He discusses the unexpected challenges of early retirement, such as boredom and a loss of identity. Tyler emphasizes the importance of finding meaningful work rather than just quitting to enjoy free time. He advocates for gradual work transition and diversified income streams to maintain mental and financial health. The conversation also explores the real risks of early retirement and how psychological factors can influence financial independence.

Fear that early retirement is out of the question because you have too much debt? It’s not game over. Whether you’re debt-free or still chipping away at your student loans, today’s guests are proof that FIRE is never too far out of reach—even if you’ve got half a million dollars in debt!Welcome back to the BiggerPockets Money podcast! Amirra and Mazi Condelee’s first date was an all-timer. While many consider personal finance a taboo topic, they cut right to the money talk—specifically, debt. And it was a good thing they did because they’ve racked up a combined $500,000 in student debt. Most would assume this spells doom for financial independence, but Amirra and Mazi knew they could pay it off by increasing their income, cutting costs, and staying disciplined.In just five years, they’ve snowballed out of student loan debt and toward their long-term goal—retiring in their 50s. Now that this power couple is nearly debt-free, they’re focused on saving for retirement. Tune in to learn what they still need to do to reach their (high) FIRE number, why they refuse to downsize their dreams, and how they plan to spend their retirement!In This Episode We CoverHow Amirra and Mazi crushed $500,000 in student loan debt in just five yearsBest practices for paying off debt and fast-tracking financial independenceHow to determine whether your FIRE number is too high (or low!)The money conversations you and your partner NEED to haveHow to “travel hack” your way to FREE vacations (without spending more)And So Much More!Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-634Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices