BiggerPockets Money

In this episode of the BiggerPockets Money Podcast, hosts Mindy Jensen and Scott Trench discuss the order of operations for investing your money to achieve FIRE. They outline the steps for both traditional early retirees and those looking to invest in real estate (or start a business). 

If you’re a beginner in the FIRE movement, start here and work through these steps to FIRE the fastest. If you’re close to FIRE already or at a significant financial milestone, don’t worry. We have tips you can use right now to retire earlier and avoid the “middle-class trap” that kills so many FIRE dreams.The episode dives deep into why each step is essential and provides actionable tips for maximizing your investment strategy based on your personal goals.

What We Discuss:

Investing Order of Operations for FIRE

Invest Order of Operations for Real Estate Investors

Why we prioritize a Fully Funded 401(k) over a Roth IRA

And SO much more!

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Want to access your IRA before turning 59½ without paying the brutal 10% early withdrawal penalty? You're not alone, and there are completely legal ways to do it that most people never learn about. In this comprehensive guide, John Bowens from Equity Trust will walk us through the exact strategies that allow you to tap into your IRA funds for early retirement, major expenses, or financial emergencies while staying on the right side of the IRS.

This episode delves into the serious considerations and potential consequences of accessing IRA funds before retirement age. It highlights the penalties and tax implications of early withdrawals, emphasizing the disruption to the growth of retirement savings. The discussion includes valid exceptions for penalty-free withdrawals, such as higher education expenses and first-time home purchases, while stressing the importance of evaluating all options and consulting with a financial advisor. Listeners are encouraged to weigh the immediate need against long-term financial health to make informed decisions.

What You'll Learn in This Episode:

And SO much more!

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The FIRE (Financial Independence, Retire Early) movement has transformed how people think about work, money, and retirement. In this comprehensive episode, Mindy and Scott break down everything you need to know about achieving financial independence and potentially retiring decades earlier than traditional retirement age.

We explore the mathematics behind FIRE, different approaches to the movement, and practical strategies for dramatically increasing your savings rate. From understanding the 4% rule to optimizing your investment portfolio, this episode provides a complete roadmap for anyone interested in financial independence. Perfect for both beginners exploring the concept and those already on their FIRE journey looking to optimize their approach.

What We Discuss:

The 4% Rule Explained

How to calculate your FIRE number 

Proven strategies to save 50%+ of your income 

Best investment vehicles for FIRE (401k, IRA, taxable accounts) 

Common FIRE mistakes to avoid 

Updated strategies for 2025 market conditions

Withdrawal strategies

And SO much more!

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In this episode of the BiggerPockets Money podcast, Mindy and Scott speak with Victor Haghani, a seasoned financial expert whose journey from Wall Street titan to FIRE advocate will transform how you think about wealth building.

Victor's path from Salomon Brothers and Long-Term Capital Management to founding Elm Wealth reveals the shocking truth: the complex strategies that made millions on Wall Street pale in comparison to simple index fund investing for achieving financial independence.

What We Discuss:

Why Victor's billion-dollar trading experience led him to index funds

The age-based asset allocation strategy that adapts as you approach FI

The psychological traps that derail FIRE journeys (even for Wall Street pros)

Practical portfolio management for the path to financial independence

And SO much more!

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You're eager to build serious wealth, but the idea of managing tenants, fixing toilets, handling trash issues, and dealing with the endless headaches that come with real estate investing makes you cringe. Even though we're the world's largest platform for real estate investors, we totally understand that the landlord life isn't suited for everyone. The great news? Real estate is definitely not your only ticket to wealth. There are five other proven methods to accumulate serious money that won't have you answering frantic tenant calls at 2 A.M.

On today's episode of the BiggerPockets Money podcast, Mindy and Scott team up to reveal the five most effective wealth-building strategies that don't require purchasing a single rental property. These approaches are accessible to virtually anyone, regardless of your current salary or existing savings account balance. Some of these strategies are extremely passive, needing only a few minutes monthly to kickstart your wealth accumulation, while others have the potential to dramatically boost your earnings but demand considerably more active participation.

In this episode, you'll learn:

The five ways to get rich WITHOUT investing in real estate 

The four “levers” of wealth you can pull to level up your financial lifestyle

“Boring” businesses and HUGE investment opportunities for those in their 20s, 30s, or 40s

Job hopping and why you could be underpaid and overworked at your current role

The investment accounts that can expedite your path to becoming a millionaire

The super passive investment anyone can use to build massive wealth in the background

And SO Much More!

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Buying a house, maxing out your 401(k), and leveraging real estate are considered the gold standard for building wealth, but what if these strategies are actually sabotaging your early retirement?

Today, we're diving into the controversial "middle-class trap" debate with Brad Barrett from the ChooseFI podcast! Welcome back to the BiggerPockets Money podcast! Is your net worth locked up in home equity and retirement accounts you can't access? Brad, Mindy, and Scott are having a friendly but fierce debate about whether this middle-class trap is real or just financial fear-mongering, breaking down strategies to avoid it and revealing the ideal portfolio for early retirees.

In this episode, you'll learn:

If the Middle Class Trap is real or not!

The difference between your Net Worth vs. FI Number

The Psychological Barriers to Financial Freedom

And SO Much More!

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On this episode of the BiggerPockets Money Podcast, hosts Mindy Jensen and Scott Trench sit down with Dave Fleischer, a teacher who's proving that you don't need a six-figure salary to achieve financial independence. If you've ever felt discouraged because your FI number seems impossibly high or your current salary feels too small to build real wealth, this episode will completely shift your perspective by showing that financial independence isn't about how much you make, but how strategically you manage what you have. 

Whether you're a teacher, earn a median income, or simply want to see how creative financial planning can accelerate your journey to freedom, you'll discover actionable strategies that work regardless of your income level and prove that YOU can follow this simple path to achieve financial freedom too.

In this episode, you'll learn:

How Dave and his wife became net worth millionaires at 39 years old.

Can one move change your life?

Living below your means is key to building wealth.

If you can downsize your lifestyle, it is a cheat code.

And SO Much More!

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On this episode of the BiggerPockets Money Podcast, hosts Mindy Jensen and Scott Trench sit down with John Bowens from Equity Trust. John is an expert on the often-overlooked 72(t)t rule that could be a game-changer for early retirees.

This often misunderstood withdrawal strategy allows people under 59.5 to tap into their retirement accounts without facing the brutal 10% early withdrawal penalty that typically guards these funds. John breaks down the complex world of Substantially Equal Periodic Payments (SEPP), walking listeners through the different calculation methods, critical liquidity considerations, and smart investment strategies that can make or break a 72T IRA approach.

In this episode, you'll learn:

How to access retirement funds early with the often overlooked 72(t) rule

Avoiding 401(k) penalties and using retirement accounts to actually retire early 

The rules and regulations you MUST follow to withdraw penalty-free 

And SO Much More!

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Katie Gatti Tassin from "Money with Katie" escaped the middle-class wealth trap of endless working and spending by having her "financial awakening" early. Through just a few years of self-education she more than doubled her income, built a profitable business, and mastered retirement investing and passive income strategies. She's documented all of these wealth-building strategies in her new book "Rich Girl Nation: Taking Charge of Our Financial Futures," which you can pre-order today. 

You'll learn the exact mindset shifts and actionable steps that transformed Katie's financial life and how you can replicate her success to break free from the cash-gobbling cycle and skyrocket your own net worth.

In this episode, you'll learn:

The “financial awakening” that’ll have you saving more and spending less

Tracking spending in real-time is crucial for financial awareness. 

Financial “truths” that could destroy your wealth if you follow them

Earning more money requires smart strategies, not just hard work.

And SO much more!

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The 4% rule just got a major update! Bill Bengen, the creator of the famous 4% withdrawal rule, returns to share his latest research that's changing retirement planning forever. Welcome back to the BiggerPockets Money podcast! Discover why he's now recommending a 4.7% withdrawal rate and what this means for YOUR retirement strategy.

In this episode, you'll learn:

Why Bill Bengen updated his iconic 4% rule after decades of research

The psychology behind why retirees struggle to actually spend their money

How market conditions should influence your withdrawal strategy

The role real estate plays in a well-diversified retirement portfolio

Active vs. passive management strategies for retirees

How younger retirees should approach their investment timeline differently

Why protecting your principal matters more than maximizing returns

The importance of controlling expenses and finding purpose beyond money

And SO Much More!

Whether you're planning for retirement or already retired, this conversation will reshape how you think about withdrawal rates, portfolio management, and creating a sustainable financial future.

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