BiggerPockets Money

Is the FIRE movement dead? In 2025, more people are catching on to the huge downsides of pursuing financial independence, retire early. Strict frugality, massive sacrifice, working harder than ever…is it really worth it to retire decades before everyone else? If you’re internally screaming, “Yes! Of course it is!” you’re in good company. Today, we’re talking about why FIRE is NOT dead in 2025 but why most Americans won’t achieve it.

It’s easy to claim that the FIRE movement is dead in 2025 when inflation has been high, savings rates are low, and there’s economic uncertainty all around. The problem? Almost all of that can be easily factored into your FIRE plan, and with some sacrifices, you could easily retire early in five, ten, or fifteen years. So, if FIRE is still possible, what must the average person do to achieve it?

We’ll discuss the mindset shift you must undergo to reach financial independence, the sacrifices you must prepare for, and what we would have done differently on our own paths to FIRE. Achieving financial freedom doesn’t need to be an all-out grind with zero enjoyment. Even if you make minor money moves today, you could be retiring YEARS earlier than you thought possible!

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In this BiggerPockets Money episode, we break down the all-out approach to reaching Financial Independence and Retiring Early in your 30s. No tech salary required, no inheritance, no luck. Just aggressive saving, smart investing, and a willingness to optimize every dollar.

We'll cover: 

The exact savings rate you need to hit FIRE in your 30’s

 How to maximize income without changing careers 

Where to cut expenses without feeling deprived

Investment strategies that accelerate your timeline

The lifestyle trade-offs that actually matter 

Real numbers: What it takes to build a $500K-$750K portfolio on $50K-$70K/year

Whether you're just starting your FI journey or you're years in and wondering if you're on track, this episode gives you the honest roadmap to early retirement—no matter your starting salary.

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In this episode of the BiggerPockets Money Podcast, hosts Mindy Jensen and Scott Trench tackle two pivotal financial decisions with their guest, Kristel. Has she already achieved Coast FI without realizing it? And should she keep her current house or sell it to accelerate her path to financial independence? 

Kristel opens up about her journey from a frugal upbringing to building an impressive $1.32 million net worth. Mindy and Scott dig deep into her numbers—dissecting her assets, income streams, and monthly expenses—to give Kristel options for her ideal FIRE life. From house hacking opportunities to smart investment moves and strategic part-time work, this episode delivers actionable insights for anyone navigating their own FI journey.

This Episode Covers:

How Kristel built $1.32M

Her current income, expenses, and savings rate

Her financial independence goals and timeline

House hacking opportunities to reduce housing costs

Investment strategy options for her portfolio

Is Kristel Coast FI? With help from The Fioneers Coast FI calculator

Part-time work options to bridge the gap to full FI

Tax optimization and withdrawal strategies

And SO much more!

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Let's talk about the average net worth by every age, and how to make sure you save and invest enough money to stay on track. In this episode of the BiggerPockets Money podcast, Mindy Jensen and Scott Trench break down actual data to reveal the net worth benchmarks for the median, top 10%, top 5%, and top 1% of every age.

If that isn’t enough they then highlight specific strategies that work at each age to hit those benchmarks—from aggressive wealth-building tactics in your 20s and 30s to business ownership and real estate scaling in your 40s, to preservation strategies in your 50s and 60s. Whether you're behind and need to catch up or ahead and want to optimize, this episode gives you the roadmap for your decade so you can hit your financial independence goals.

00:00 Net Worth by Age - Are You on Track?

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Should you sell your house right now or turn it into a rental property? In this episode of the BiggerPockets Money podcast, hosts Mindy Jensen and Scott Trench dive deep into one of the biggest financial decisions you'll ever make with their guest Sean. He is sitting on serious equity but isn't sure what his next move should be. We break down his entire financial situation using a custom spreadsheet model that analyzes net worth, mortgage rates, rental income potential, cash flow projections, and long-term wealth building strategies. This isn't just theory—we're crunching real numbers to show you exactly how to think through this decision.

We examine market conditions, tax implications, opportunity costs, and the hidden expenses most people forget when they become landlords. Whether you're dealing with a primary residence, investment property, or house hack situation, this episode gives you a replicable decision-making process you can use for your own real estate choices.

By the end of this episode, you'll understand the financial trade-offs between liquidity and long-term appreciation, how to calculate true rental yields, and when holding onto property actually destroys wealth instead of building it. If you're facing a similar decision or planning your real estate exit strategy, this is the most comprehensive breakdown you'll find anywhere.

00:00 Should You Sell or Keep Your House?

01:17 Financial Overview: Net Worth, Income & Equity

02:33 Mortgage Rate Analysis and Current Housing Market Conditions

03:07 Rental Property Cash Flow Calculator

13:41 Hidden Rental Property Expenses and Long-Term Investment Returns

19:30 How Selling vs Renting Impacts Your Cash Flow and Net Worth

21:11 Net Worth Projections: Sell Now vs Hold 5, 10, 20 Years

23:27 Rental Property Cash Flow vs Home Sale Proceeds Analysis

24:29 Best Time to Sell Your House

26:26 Which Option Builds More Wealth?

31:14 Final Verdict: Should You Sell Your House Now?

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What if you could take a year off at 31 and still retire early? Alex Morales, also known as Girl Chasing Wealth, is doing exactly that. In this BiggerPockets Money episode, she sits down with Mindy Jensen and Scott Trench to reveal how she's funding a year-long sabbatical while staying on track to achieve financial independence by 44, all on a median salary in a high-cost-of-living area. Alex's journey proves you don't need a six-figure income or to live in a low-cost city to make FIRE work—you just need the right strategies.

Alex shares her unconventional approach to building wealth, including managing roommates to slash housing costs, ruthlessly cutting expenses that don't align with her values, and building side income streams for flexibility. But this isn't just about saving money—it's about designing a life that lets you take meaningful breaks without derailing your financial goals. Whether you're burned out, curious about sabbaticals, or convinced early retirement requires constant hustle, this conversation will change how you think about the path to financial freedom.

This Episode Covers:

And SO much more!

00:00 Taking a Year Off at 31 Without Ruining FIRE

01:39 How She Started

03:17 The Lifestyle Cuts That Actually Worked

07:46 Roommates Saved Her $30K/Year

12:10 Her Exact Investment Strategy Revealed

14:29 Why She Left Her Job

15:50 The Return Plan: Higher Pay, Same Freedom

22:30 What She's Actually Doing on Sabbatical

32:06 Follow Her FIRE Journey!

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Join Mindy Jensen and Scott Trench on the BiggerPockets Money Podcast as they welcome retirement tax experts Sean Mullaney, The FI Tax Guy, and Cody Garrett, a certified financial planner, to break down their game-changing retirement drawdown order of operations. This isn't your typical retirement advice - it's a strategic blueprint that could save early retirees and traditional retirees thousands in taxes while ensuring their money lasts a lifetime.

Discover the four critical retirement drawdown fundamentals that form the backbone of any successful retirement strategy, plus advanced tactics for optimizing your tax burden, managing healthcare costs, and timing Roth conversions for maximum impact. Sean and Cody don't just explain what to do - they walk through exactly when and why each strategy matters most, covering everything from your retirement date through the challenging widow and widower years.

This episode covers:

And SO much more!

00:00 Retirement Drawdown Strategies

01:22 Fundamentals of Retirement Drawdown

03:37 Phases of Retirement and Taxable Accounts

07:23 Managing Income and Premium Tax Credits

09:22 Roth Conversions and Standard Deductions

19:52 Hidden Roth IRA and Tax Planning

28:36 Navigating Healthcare Subsidies and Early Retirement

29:26 Balancing Benefits for Early Retirees and Self-Employed

33:34 Strategic Tax Planning for Retirement

35:50 Understanding Required Minimum Distributions (RMDs)

36:59 Mitigating the Impact of RMDs

40:51 The Widow's Tax Trap and Effective Tax Planning

46:30 Connect with Sean and Cody!

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In this episode of the BiggerPockets Money Podcast, hosts Mindy Jensen and Scott Trench are joined by tax experts Sean Mullaney and Cody Garrett to reveal how early retirement can actually be your smartest tax strategy. The conversation immediately tackles one of the biggest misconceptions holding people back from FIRE - the fear that retiring early means facing higher taxes. Instead, they demonstrate how lower retirement income typically translates to significantly lower tax bills, completely flipping the conventional wisdom about retirement tax planning.

The discussion dives deep into their comprehensive approach to tax planning for early retirement, centered around the powerful concept of "Pay Tax When You Pay Less Tax." This isn't just theory - they break down practical, tax-efficient strategies that can save you thousands, including optimizing traditional 401k contributions, maximizing Roth IRA conversions, and strategically managing taxable investment accounts. These aren't complex maneuvers requiring a team of accountants; they're accessible strategies that any early retiree can implement.

Beyond the big-picture tax strategies, this episode tackles the real-world challenges that derail many FIRE plans. Learn how to build robust emergency reserves that won't trigger unnecessary tax consequences, handle unexpected income disruptions without destroying your tax efficiency, and leverage advanced techniques like qualified charitable distributions to further reduce your tax burden. Whether you're years away from retirement or already making the transition, this episode provides actionable insights to minimize your lifetime tax burden while maximizing your financial independence.

The discussion is intended to be for general educational purposes and is not tax, legal, or investment advice for any individual. Mindy, Scott, and the BiggerPockets Money podcast do not endorse Sean Mullaney, Mullaney Financial & Tax, Inc. and their services. 

00:00 Taxes in Early Retirement

00:54 Debunking Tax Myths in Early Retirement

03:03 Understanding Taxable Income in Retirement

04:10 Effective Tax Strategies for Early Retirees

05:37 Capital Gains and Tax Rates

12:25 Tax Planning Tools and Calculators

23:43 Tax Optimization Strategies

24:27 Debate: 401k vs Roth IRA

24:56 Order of Operations for Financial Independence

25:42 Roth IRA Conversion Strategies

32:33 The Middle Class Trap

39:09 Tax Strategies for New Investors

44:21 Connect with Sean and Cody

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Join Mindy Jensen and Scott Trench on this episode of the BiggerPockets Money Podcast as they dive into the different types of FIRE. Financial Independence, Retire Early isn't a one-size-fits-all approach - it's evolved into multiple distinct paths, each designed to meet different lifestyles, risk tolerances, and financial goals. This comprehensive exploration will help you understand which version of financial independence makes the most sense for your unique situation.

From traditional FIRE to coast, lean, barista, chubby, and fat FIRE, each approach offers its own timeline, savings requirements, and lifestyle implications. Whether you're drawn to the minimalist appeal of lean FIRE or you're more interested in fat FIRE's promise of maintaining a luxurious lifestyle in retirement, understanding these distinctions is crucial for mapping out your financial future. Scott and Mindy break down the math, mindset, and practical considerations behind each path, giving you the clarity to choose your FIRE strategy and start building a personalized roadmap to financial independence.

This Episode Covers:

And SO much more!

00:00 The 6 Types of FIRE 

01:12 Traditional FIRE

04:38 Coast FIRE

09:43 Barista FIRE

13:11 Lean FIRE

18:15 Chubby FIRE

22:07 Fat FIRE

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Discover how geo-arbitrage can double your investing power without requiring a raise, career change, or lottery win! In this episode of the BiggerPockets Money Podcast, Mindy Jensen and Scott Trench are joined by Daniel Mills to explore how remote workers can live lavishly on a middle-class salary by strategically leveraging location differences. This isn't just about moving somewhere cheaper - it's about unlocking a completely different financial trajectory through smart geographic choices.

Daniel shares his journey to financial independence while living in Japan, breaking down his simplified investment portfolio, dramatically lower cost of living, and the tax strategies that allowed him to write off six-figure incomes. From navigating international investing challenges to discovering unique real estate opportunities, Daniel's story demonstrates how living abroad can accelerate your path to FIRE in ways you might never have imagined.

This Episode Will Cover:

How geo-arbitrage can double your investment power on the same income

Daniel's path from English teacher to international real estate investor

Simplified investment strategies that work from abroad

Tax advantages and write-off opportunities for expats

Real-world cost of living comparisons between Japan and the U.S.

Practical challenges of investing internationally and how to overcome them

Cultural integration strategies for successful expat living

Whether geo-arbitrage is right for your FIRE journey

And SO much more!

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