BiggerPockets Money Podcast

406: Finance Friday: Why FORCING Your Way to FIRE Isn’t The Way


Listen Later

The road to early retirement isn’t easy. Once you become dead-set on finding financial freedom, your entire world turns upside down. For many of us, this means spending as little as possible, ditching takeout, saying goodbye to expensive events, and becoming a frugal hermit in our own financially-focused worlds. But, this can lead to serious burnout since a life without fun is a hard life to live. Today, we talk to Sam, who’s feeling his own type of frugal fatigue.

Sam was blindsided by a sudden divorce, separating him from his daughter and prompting him to restart his career. He went the unconventional route, getting his pilot’s license and slowly building up his income. But, switching from stay-at-home dad to breadwinner in an instant left a mental mark on Sam. As a result, he’s kept an extremely lean budget, even as his income has grown into six figures. He’s doing a phenomenal job on the path to early retirement, but with time freedom in sight, Sam is still struggling to live life in the present moment instead of always focusing on the future.

In this Finance Friday episode, Mindy and Scott walk through paying off unconventional student debt, building a financial runway, the difference between being frugal and cheap, and whether house hacking vs. renting is the right move in this housing market. They’ll also chat over employee stock purchase programs and investing for early retirement, all while making dozens of pilot puns along the way!


In This Episode We Cover

Investing for early retirement and what to focus on to hit financial freedom

Being frugal vs. cheap and whether your FIRE obsession is making life harder

Student loan debt and when selling investments makes sense

House hacking and using extra space in your home to make more money

Building your “financial runway” and when it’s time to reallocate your investment portfolio

Employee stock purchase programs and the GUARANTEED profit you’ll make

And So Much More!


Links from the Show

BiggerPockets Money Facebook Group

BiggerPockets Forums

Finance Review Guest Onboarding

Join BiggerPockets for FREE

Mindy on BiggerPockets

Scott's Instagram

Grab Scott’s Book, “Set for Life”

Listen to All Your Favorite BiggerPockets Podcasts in One Place

Apply to Be a Guest on The Money Show

Podcast Talent Search!

Subscribe to The “On The Market” YouTube Channel

Listen to The “On The Market” Podcast: SpotifyApple PodcastsBiggerPockets

Money Moment

Scott Trench’s Step-by-Step Guide to Building Your Perfect, 1-Page Investment Plan

Why You Don’t Need to Sacrifice Everything to Hit Financial Freedom

How to Get to Early Retirement Even Faster


Click here to check the full show notes: https://www.biggerpockets.com/blog/money-406


Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Let us know!

Learn more about your ad choices. Visit megaphone.fm/adchoices

...more
View all episodesView all episodes
Download on the App Store

BiggerPockets Money PodcastBy BiggerPockets

  • 4.5
  • 4.5
  • 4.5
  • 4.5
  • 4.5

4.5

2,892 ratings


More shows like BiggerPockets Money Podcast

View all
Money Guy Show by Brian Preston and Bo Hanson

Money Guy Show

3,101 Listeners

Financial Independence Podcast by The Mad Fientist

Financial Independence Podcast

1,650 Listeners

BiggerPockets Real Estate Podcast by BiggerPockets

BiggerPockets Real Estate Podcast

16,820 Listeners

The Stacking Benjamins Show by StackingBenjamins.com | Cumulus Podcast Network

The Stacking Benjamins Show

1,951 Listeners

Afford Anything by Paula Pant | Cumulus Podcast Network

Afford Anything

3,521 Listeners

ChooseFI by ChooseFI

ChooseFI

5,073 Listeners

Millionaires Unveiled by Jace Mattinson, CPA

Millionaires Unveiled

897 Listeners

Earn & Invest by Jordan Grumet (Doc G)

Earn & Invest

431 Listeners

BiggerPockets Business Podcast by BiggerPockets

BiggerPockets Business Podcast

700 Listeners

Real Estate Rookie by BiggerPockets

Real Estate Rookie

1,829 Listeners

BiggerPockets Daily by BiggerPockets

BiggerPockets Daily

322 Listeners

PassivePockets: The Passive Real Estate Investing Show by PassivePockets, Jim Pfeifer, and Left Field Investors

PassivePockets: The Passive Real Estate Investing Show

131 Listeners

Two Sides of FI by Jason and Eric

Two Sides of FI

342 Listeners

All the Hacks with Chris Hutchins by Chris Hutchins

All the Hacks with Chris Hutchins

1,427 Listeners

Mile High FI Podcast by Carl Jensen & Doug Cunnington

Mile High FI Podcast

185 Listeners

On The Market by BiggerPockets

On The Market

894 Listeners

Catching Up to FI by Bill Yount & Jackie Cummings Koski

Catching Up to FI

301 Listeners