BiggerPockets Money

If you invest consistently, reaching FIRE (financial independence, retire early) by your mid-40s is absolutely possible. These two financial-freedom-chasing twins are proof of it! Only in their 20s, both Andy and Oliver from Twin Finances have six-figure net worths, rental properties, and fully-loaded stock accounts! Conveniently, right after getting their first jobs, they found out about the FIRE movement, and have been quickly approaching their FIRE numbers ever since!

Andy and Oliver have made substantial financial progress in just six years by doing what’s simple—a “set it and forget it” investing strategy that means less stress and faster FIRE. With $2M FIRE goals each, they’ve got a big gap to fill, but starting in their 20s gives them a huge leg up. In this episode, they break down their net worths, assets, and how they balance stocks and real estate to stay on track for FIRE by 45! 

Are you new to the FIRE movement? Check out Andy and Oliver’s beginner channel for personal finance, Twin Finances, and subscribe to BiggerPockets Money!

In This Episode We Cover

The “set it and forget it” investing strategy for FIRE by your mid-40s 

Why you MUST be flexible with your FIRE number as your life changes 

How to handle market corrections and crashes without losing your FIRE progress 

Andy and Oliver’s impressive net worths (they’re only in their 20s!)

Combining rental properties and consistent stock investing to diversify your FIRE income

And So Much More!

Check out more resources from this show on ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠BiggerPockets.com⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ and ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.biggerpockets.com/blog/money-645

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For many of us, FI (financial independence) isn’t just about having the biggest bank account. Growing wealth is one thing, but getting rich isn’t the goal. Freedom, time with loved ones, and giving back to your community are. So, when he reached the millionaire mark and achieved Coast FI, Ryan Brennan knew it was time to leave his new director role and focus on something that fueled his FIRE in a non-financial way.

But, how did he get to a seven-figure net worth in his mid-30s anyway? A few very savvy (and repeatable) money moves catapulted Ryan’s net worth, allowing him to reach a level of financial freedom three decades before traditional retirement age. Through smart investing, unconventional living, and using his money to multiply his investments, Ryan secured the financial runway to enjoy a long sabbatical, doing what he truly loves—service work.

After multiple volunteering trips, Ryan started the FI Service Corps, a group for those on their way to (or at) FI to give back to the community and help others in less fortunate positions. Ryan and his FI Service friends have helped build houses for qualifying low-income families, laid floors, and painted for Habitat for Humanity, and done it all while staying on track for early retirement. Want to give back, too? Join Ryan on a FI Service Corps volunteer trip! 

In This Episode We Cover

Repeatable money moves Ryan made to reach Coast FI by 36 

Why financial independence is so much more than just growing your net worth (it’s about giving back!)

How to know you’re ready to take a sabbatical or quit your job 

The live-in flip house hack strategy that will supercharge your FIRE progress 

Why Slow FI may be even better than retiring as early as possible 

How to join Ryan and other FI friends on a trip to help those in need

And So Much More!

Check out more resources from this show on ⁠⁠⁠⁠⁠⁠⁠⁠⁠BiggerPockets.com⁠⁠⁠⁠⁠⁠⁠⁠⁠ and ⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.biggerpockets.com/blog/money-644

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Most people assume the “safe withdrawal rate” for retirement (or early retirement) is 4%. But, if that’s the case, why is it SO hard to find anyone who’s gotten to their FIRE number, quit their job, and lived entirely off of the 4% rule? If the 4% rule is so safe and backed by solid math, why are so few FIRE followers confident enough to actually use it? We don’t know. So we asked Karsten, AKA “Big Ern,” from Early Retirement Now to help answer!

Karsten has done the math, and the 4% rule checks out. But even he, an early retiree, doesn’t follow it. So, instead of the safe withdrawal rate, what’s the comfortable withdrawal rate early retirees should be following to FIRE on time and with less stress? And with turbulence in today’s stock market, and rising prices (which cause your spending to rise), what does the right FIRE portfolio look like?

Karsten walks through how your portfolio should change as you approach FIRE. He explains why hedging with cash-flowing assets may be a smart move, how much cash to keep on hand, and whether those reserves can actually protect against sequence risk. Plus, should you pay off your mortgage on the path to FIRE? Scott and Karsten offer two different perspectives on whether it’s smarter to pay off your mortgage or invest that money instead.

If you’re planning to FIRE, this is info you need to know!

In This Episode We Cover

Is the 4% rule math or myth, and why doesn’t anyone actually trust it enough to use it?

The optimal FIRE portfolio for less risk and higher potential returns 

Cash reserves and emergency “buckets” to limit your sequence of returns risk 

Should you pay off your mortgage early or invest that money instead?

One smart hedge to protect your portfolio against a stock market downturn 

And So Much More!

Check out more resources from this show on ⁠⁠⁠⁠⁠⁠⁠⁠BiggerPockets.com⁠⁠⁠⁠⁠⁠⁠⁠ and ⁠⁠⁠⁠⁠⁠⁠⁠https://www.biggerpockets.com/blog/money-643

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No, Taxes Won’t Derail Your FIRE: Here’s What You’ll Really Pay in Retirement

Podcast Description

Taxes in retirement have been called a “silent wealth killer” for those pursuing FIRE—but does the data tell a different story? If you’re worried about a ticking tax bomb wiping out a huge chunk of your investment portfolio or even delaying early retirement, you won’t want to miss this one!

Welcome back to the BiggerPockets Money podcast! Today, we’re joined by fellow investor and self-proclaimed data nerd Mark Livingstone, who has created a free resource and spreadsheet YOU can use to estimate your tax burden in retirement. For most early retirees, taxes are negligible compared to the amount of income they can withdraw, and Mark will demonstrate this with a step-by-step walkthrough of his powerful FIRE tax tool!

Along the way, you’ll learn the key differences between marginal and effective tax rates and why people who retire today pay much less tax than in decades prior. You’ll also hear about the four income “levers” you can pull in retirement, when income tax and capital gains tax kick in, and how to build the most tax-friendly withdrawal strategy possible!

In This Episode We Cover

Why taxes in retirement aren’t nearly as bad as you probably think

A step-by-step walkthrough of Mark’s free retirement tax spreadsheet

How the United States’ progressive income tax system works

Marginal and effective tax rates explained (and how they impact your tax burden)

The four income “levers” you can pull in retirement (and how each is taxed)

How taxes impact the safe withdrawal rate (and why the 4% rule works)

And So Much More!

Check out more resources from this show on ⁠⁠⁠⁠⁠⁠⁠BiggerPockets.com⁠⁠⁠⁠⁠⁠⁠ and ⁠⁠⁠⁠⁠⁠⁠https://www.biggerpockets.com/blog/money-642

Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email ⁠⁠⁠⁠⁠⁠⁠[email protected]

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BiggerPockets’ CEO Scott Trench announces his decision to step down as CEO, and focus full-time efforts on personal finance content with BiggerPockets Money. We also welcome BiggerPockets’ new CEO, Ale Ayestaran.

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The Simple Path to Wealth is arguably the most influential book in the FIRE movement. JL Collins, its author, is revered among early retirees as one of the trailblazers for FIRE, showing that anyone, with the right investing consistency, can reach financial independence WITHOUT complicated investing strategies, risky alternative assets, or individual stock picking. This is THE simplest way to wealth, but does it still work in 2025?

To see, we had to ask the man himself. So, back again, is JL Collins! Today, we’re answering the big questions many FIRE chasers still ask. What’s the right portfolio balance when growing wealth vs. retiring, does JL hold bonds or 100% index funds, should we be worried about all-time-high price-to-earnings ratios, and do you EVER need to rebalance your portfolio? JL answers them all, plus gives Scott his honest take on what a market crash would mean for his portfolio.

But what about real estate, cryptocurrency, and other alternative assets? Is there any space in your portfolio for those, or should you only invest in index funds and bonds? JL has some advice you might not expect, but it could help you if you’re itching to diversify. 

Want to learn more about The Simple Path to Wealth? Pre-order the updated version, The Simple Path to Wealth (Revised & Expanded 2025 Edition), today! 

In This Episode We Cover

The “simple” path to wealth, FIRE, and early retirement explained 

JL’s exact stock/bond ratio while in retirement (and where yours should be)

Are Scott’s concerns about price-to-earnings ratios valid? JL shares his view

When to rebalance your portfolio and why “set it and forget it” investing WON’T work

REITs, real estate, and crypto: does JL invest in ANY of these alternative assets (and should you)? 

And So Much More!

Links from the Show

Mindy on BiggerPockets

Scott on BiggerPockets

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Email Mindy: [email protected]

Email Scott: [email protected]

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The Simple Path to Wealth (Revised & Expanded 2025 Edition)

How I Lost Money in Real Estate Before It Was Fashionable

Grab “The Simple Path to Wealth (Revised & Expanded 2025 Edition)”

Get to FIRE Faster with “Set for Life”

Sign Up for the BiggerPockets Money Newsletter

Property Manager Finder

The Simple Path to Wealth—Index Funds Explained with JL Collins

Check out more resources from this show on ⁠⁠⁠⁠⁠⁠BiggerPockets.com⁠⁠⁠⁠⁠⁠ and ⁠⁠⁠⁠⁠⁠https://www.biggerpockets.com/blog/money-640

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Paying for college is one of the biggest financial hurdles families face—even as you’re chasing or approaching FIRE. What’s the smartest way to save for higher education while also securing your financial future? Scott, Mindy, and Amberly are breaking it all down on today’s episode!

Welcome back to the BiggerPockets Money podcast! There are several ways to fund your child’s education, and if you’re actively building wealth, you likely have even more options at your disposal. We’ll show you how to find “free” money through government grants and scholarships, but since these could be off the table for those who are pursuing financial independence, we’ll also compare popular college savings accounts—like the 529 college savings plan and UTMA (Uniform Transfer to Minors Act) account. If you want to limit your tax liability, one option reigns supreme!

We know this is a personal decision, and you shouldn’t be guilted into one direction or the other. Whether you’re saving for your own children, your grandkids, or just curious about how to balance college tuition costs with FIRE goals, we’ll equip you with a practical roadmap for funding education on your own terms—one that keeps you on track to retire early!

In This Episode We Cover

How Scott, Mindy, and Amberly are funding their children’s college education

The pros and cons of 529 college savings plans versus UTMA accounts

How to uncover “free money” to help pay for college tuition costs

State-specific tax benefits to keep in mind when contributing to a 529 plan

Securing your financial future before saving for higher education

And So Much More!

Check out more resources from this show on ⁠⁠⁠⁠⁠BiggerPockets.com⁠⁠⁠⁠⁠ and ⁠⁠⁠⁠⁠https://www.biggerpockets.com/blog/money-639

Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email ⁠⁠⁠⁠⁠[email protected]

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You CAN retire early in just ten years IF you save and invest enough. Fortunately, your retirement expenses may be less than you think. Chris Luger, from Heavy Metal Money, didn’t think about retiring early until a divorce made him take control of his finances. He realized that the path to early retirement was only ten years away, so he started saving—a lot. Chris managed to save and invest 70% of his income for seven years, and just last year, he pulled the trigger and retired!

And here’s the kicker—Chris isn’t even touching his retirement portfolio. Thanks to a passive income side hustle, he’s funding his lifestyle without drawing down his nest egg. Chris is proof that even after divorce, with kids and an event-packed lifestyle, you CAN afford to retire early.

What’s Chris’s investment portfolio made up of? What’s his passive income-producing side hustle? And how does he deal with stock market downturns without losing his head? Chris shares the raw realities of early retirement, the biggest struggles to prepare for, and the one thing that makes FIRE truly amazing once you achieve it.

In This Episode We Cover

How to retire early in your 40s by supercharging your savings rate 

Why you need a passive income stream to have a stress-free FIRE lifestyle 

Is a financial advisor worth it? Why Chris is confident in his decision to use an advisor 

What you need to prepare for NOW if you’re planning on retiring early 

Why Chris is worried about running out of life, not money, in early retirement (and you should be, too)

And So Much More!

Links from the Show

Mindy on BiggerPockets

Scott on BiggerPockets

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Email Mindy: [email protected]

Email Scott: [email protected]

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Rich Dad Poor Dad

Sahil Bloom: The “X Factor” for Financial Freedom and Why FIRE Won’t Make You Happy

When You Should (and Shouldn’t) Hire a Financial Advisor | Life After FIRE

Heavy Metal Money

Maximize Your Real Estate Investing with a Self-Directed IRA from Equity Trust

Grab the Personal Finance Classic, “Rich Dad Poor Dad”

Sign Up for the BiggerPockets Money Newsletter

Property Manager Finder

When You Should (and Shouldn’t) Hire a Financial Advisor | Life After FIRE

Connect with Chris

Connect with Carl

Check out more resources from this show on ⁠⁠⁠⁠BiggerPockets.com⁠⁠⁠⁠ and ⁠⁠⁠⁠https://www.biggerpockets.com/blog/money-638

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For decades, the 4% rule has been the calculation every FIRE chaser has used to determine when they can retire early—risk-free. The math is simple: have a portfolio big enough to withdraw 4% per year to fund your lifestyle. But there’s one BIG problem with the 4% rule that nobody is talking about—a problem that could force you to work longer, ruin your retirement lifestyle, and put your portfolio in jeopardy if you don’t plan carefully. Tyler Gardner, former portfolio manager and financial advisor, is back on the show to share why much of the FIRE community may be wrong about this “rule.”

Scared of not having enough to retire, retiring during a market crash, or being forced to be frugal once you leave the workforce? That’s precisely what we’re talking about in today’s episode. The 4% rule has become untouchable within the FIRE movement, but its hard-and-fast downsides may lead to your FIRE’s demise. 

Tyler shares what he thinks is the ultimate FIRE portfolio allocation, why he’s way more bullish on stocks and index funds than bonds, EVEN during retirement, and why target date retirement funds—often scoffed at—can actually help protect your portfolio once you FIRE. If you’re planning on retiring early with the 4% rule, think again. All of us have our doubts, and we’re sharing them today. 

In This Episode We Cover

Why the 4% “rule” is WRONG for most FIRE chasers, and why withdrawing only 4% could be a mistake 

The new (updated!) FIRE number that most people should be chasing 

Hate your job and want to retire early? Here’s why you should find a better career (NOT quit) instead 

The ultimate FIRE portfolio allocation and why a target date retirement fund actually makes sense for many 

And So Much More!

Links from the Show

Mindy on BiggerPockets

Scott on BiggerPockets

Listen to All Your Favorite BiggerPockets Podcasts in One Place

Join BiggerPockets for FREE

Email Mindy: [email protected]

Email Scott: [email protected]

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Follow BiggerPockets Money on Instagram

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Subscribe to the BiggerPockets Money YouTube Channel!

Connect with Tyler on Instagram

Connect with Tyler on TikTok

Your Money Guide on the Side Podcast

Want to FIRE in 2025? How to Prepare for Early Retirement w/Emma von Weise

Maximize Your Real Estate Investing with a Self-Directed IRA from Equity Trust

Get to FIRE Faster with “Set for Life”

Sign Up for the BiggerPockets Money Newsletter

Find an Investor-Friendly Agent in Your Area

(00:00) Intro
(02:05) Is the 4% Rule Wrong?
(06:05) This Saves Your FIRE
(10:09) “One More Year” Syndrome
(14:33) Healthcare in Early Retirement
(16:34) Ultimate FIRE Portfolio Allocation
(24:29) Include Real Estate?
(29:49) Target Date Retirement Funds
(36:25) Don’t Quit Working?
(54:30) Find a Job You LOVE
(57:02) Connect with Tyler!
(58:30) FIRE Chasers Are Wrong!

Check out more resources from this show on ⁠⁠⁠BiggerPockets.com⁠⁠⁠ and ⁠⁠⁠https://www.biggerpockets.com/blog/money-637

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What if you reached financial independence…before knowing what it was? That’s what happened to Chris Rusin. After discovering the FIRE movement and stumbling across Mindy and Carl’s blog, he realized he was already at his goal. Then, early retirement unlocked a new life full of wild adventures, creative rebirth, and deeper purpose!

Welcome back to the BiggerPockets Money podcast! Chris had been hustling, saving money, and chasing financial freedom for years before experiencing a big wake-up call. He encountered a half-billionaire who, despite “having it all,” was deeply unhappy and filled with regret. That moment sparked a shift—not toward more money, but toward more meaning.

Since then, Chris has dived for treasure with Navy SEALs, unearthed dinosaur fossils, and much more—all before turning 50! But he’s also faced his fair share of fear and uncertainty. After receiving a cancer diagnosis and losing his voice to chemotherapy, he made a promise: if his voice came back, he’d finally record the album he’d dreamed of making. And he did. Stick around till the very end to hear the “world premiere” of Chris’ brand-new song!

In This Episode We Cover

What really happens after you achieve financial independence

Designing your “dream” life once you reach early retirement

How to maintain a sense of purpose after retiring from your nine-to-five

The secret to weathering major portfolio swings in retirement

A BiggerPockets-exclusive live rendition of Chris’ brand-new song

And So Much More!

Check out more resources from this show on ⁠⁠BiggerPockets.com⁠⁠ and ⁠⁠https://www.biggerpockets.com/blog/money-636

Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email ⁠⁠[email protected]

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