BiggerPockets Money Podcast

Julie Rose “semi-retired” at just 36 years old with only $500K, trading her corporate job for sunrise safaris in Africa, beach walks in Bali, and mid-day hikes in Mexico.  With “Barista FIRE,” you can retire with a lower FIRE number, still work (minimally) doing what you love, and have almost complete time freedom over your life. Why have FIRE when you can “semi-retire” decades earlier? Plus, your retirement nest egg will be growing in the background, all while you do what you want, when you want, with who you want. Sounds like a dream life, right? Well, you’re not far from it already! After barely scraping by (even with a good job), Julie knew something needed to change, but she wasn’t ready for it. It wasn’t until she got laid off multiple times that she realized it was time to put her financial future in her own hands. This led her down the FIRE movement [https://www.biggerpockets.com/blog/fire-financial-independence-retire-early?utm_source=podcast&utm_medium=description&utm_campaign=none] rabbit hole, getting almost addicted to saving [https://www.biggerpockets.com/blog/saving-money-ultimate-guide?utm_source=podcast&utm_medium=description&utm_campaign=none] and investing, and finding herself in a position to quit her job and do what she really loves: travel and get PAID to plan trips for others.  Now, she’s Barista FIRE (FIRE with the help of a side hustle [https://www.biggerpockets.com/blog/side-hustle-ideas]), living nomadically for a fraction of the cost of a basic life in the United States!  In This Episode We Cover “Barista FIRE” and the faster way to semi-retire early with a lower FIRE number [https://www.biggerpockets.com/blog/discover-you-fire-number?utm_source=podcast&utm_medium=description&utm_campaign=none] Why consumerism WON’T fulfill you, but it will make you broke Using side hustles to supercharge your savings rate and investing goals  Building your Barista FIRE income stream BEFORE you quit your job  Early retirement healthcare [https://www.biggerpockets.com/blog/biggerpockets-money-podcast-94-lynn-frair?utm_source=podcast&utm_medium=description&utm_campaign=none] and how Julie pays just $40/month for coverage Living your best life abroad for a fraction of the cost of living in the States  And So Much More! Check out more resources from this show on BiggerPockets.com [https://www.biggerpockets.com/] and https://www.biggerpockets.com/blog/money-623 [https://www.biggerpockets.com/blog/money-623] Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com [advertise@biggerpockets.com] Learn more about your ad choices. Visit megaphone.fm/adchoices [https://megaphone.fm/adchoices]

The stock market [https://www.biggerpockets.com/blog/stock-volatility-could-create-good-opportunities-for-real-estate-investors?utm_source=podcast&utm_medium=description&utm_campaign=none] is shifting, and your portfolio needs to change NOW if you want to reach or stay FIRE (financial independence, retire early) [https://www.biggerpockets.com/blog/fire-financial-independence-retire-early?utm_source=podcast&utm_medium=description&utm_campaign=none]. Many early retirees are sitting anxiously, watching their net worth fall by 10% (or more), making each withdrawal from their portfolio increasingly risky. If you’re close to financial independence or are retired early already, you CANNOT risk losing the gains you’ve worked so hard for. This is what we’re doing NOW to keep our FIRE portfolios crash-resistant. Last month, Scott talked about his big decision to sell off a chunk of his index fund portfolio [https://www.biggerpockets.com/blog/money-599?utm_source=podcast&utm_medium=description&utm_campaign=none] in fears of overvalued stock prices. What followed? A significant stock sell-off, with some major indexes falling 10% already. Scott urges those close to FIRE to “lock in” their gains and avoid unnecessary risks to push their FIRE numbers higher. So, what did Scott move his money into, and should you do the same? Should you switch to bonds for a safer but lower-return correction hedge? What happens if this stock downturn lasts years? Should someone in their 20s or 30s, just starting on the FIRE path, stop investing or double down? We’re answering all of your burning FIRE questions today!  In This Episode We Cover Why Amy uses a financial advisor to help manage her money in retirement Amy’s journey to financial independence, losing her husband, and retiring early [https://www.biggerpockets.com/blog/retire-early-real-estate-investing?utm_source=podcast&utm_medium=description&utm_campaign=none] Assets under management (AUM) versus fee-only advisors (and which one to hire!) How to reach your FIRE number sooner through “experimental deprivation” Why you need to have regular money check-ins with your significant other And So Much More! Links from the Show Mindy on BiggerPockets [https://www.biggerpockets.com/users/mindyjensen?utm_source=youtube&utm_medium=description&utm_campaign=none] Scott on BiggerPockets [https://www.biggerpockets.com/users/scotttrench?utm_source=youtube&utm_medium=description&utm_campaign=none] Listen to All Your Favorite BiggerPockets Podcasts in One Place [https://www.biggerpockets.com/podcasts?utm_source=youtube&utm_medium=description&utm_campaign=none] Join BiggerPockets for FREE [https://www.biggerpockets.com/signup?utm_source=owned_media] Email Mindy: Mindy@biggerpockets.com Email Scott: Scott@biggerpockets.com BiggerPockets Money Facebook Group [https://www.facebook.com/groups/3307645739309341] Follow BiggerPockets Money on Instagram [https://www.instagram.com/biggerpocketsmoney/] “Like” BiggerPockets Money on Facebook [https://www.facebook.com/BiggerPocketsMoney] BiggerPockets Money YouTube Channel [http://www.youtube.com/@BiggerPocketsMoney] Save $100 on Real Estate’s Biggest Event of the Year, BPCON2025 [https://get.biggerpockets.com/conference/] Get to FIRE Faster with “Set for Life” [https://store.biggerpockets.com/products/set-for-life-revised-edition?utm_source=owned_media] Sign Up for the BiggerPockets Money Newsletter [https://www.biggerpockets.com/email-subscribe?utm_source=youtube&utm_medium=description&utm_campaign=none] Find an Investor-Friendly Agent in Your Area [http://biggerpockets.com/agentmatch] BiggerPockets Real Estate 1,095 - Scott Trench: How I’m Protecting My Money From “Irrational Exuberance” [https://www.biggerpockets.com/blog/real-estate-1095?utm_source=youtube&utm_medium=description&utm_campaign=none] (00:00) Stock Market Update (06:44) Close to FIRE? Do This (14:41) Fix Your FIRE Portfolio (17:20) Lock-In Your FIRE! (19:02) Scott’s 2025 FIRE Portfolio (21:30) Already Retired/FIRE? (23:46) What About Taxes? (28:49) What if This Crash Lasts? (35:00) Start Shifting Toward Retirement Check out more resources from this show on BiggerPockets.com [https://www.biggerpockets.com/] and https://www.biggerpockets.com/blog/money-622 [https://www.biggerpockets.com/blog/money-622] Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com [advertise@biggerpockets.com] Learn more about your ad choices. Visit megaphone.fm/adchoices [https://megaphone.fm/adchoices]

Could hiring a financial advisor [https://www.biggerpockets.com/blog/do-you-need-financial-advisor?utm_source=podcast&utm_medium=description&utm_campaign=none] help you reach financial independence and retire early? This isn’t a popular move in the FIRE [https://www.biggerpockets.com/blog/fire-financial-independence-retire-early?utm_source=podcast&utm_medium=description&utm_campaign=none] community, but it gave today’s guest peace of mind, preserved her wealth, and helped her save on taxes in retirement. Stick around to learn if it’s the right choice for you, too!   Welcome to another episode of “Life After FIRE”! Today, we’re chatting with Amy, who was dealt a set of circumstances that altered her life and retirement plans [https://www.biggerpockets.com/blog/have-a-different-retirement-plan?utm_source=podcast&utm_medium=description&utm_campaign=none]. Amy and her late husband, Phil, arrived at their FIRE number [https://www.biggerpockets.com/blog/discover-you-fire-number?utm_source=podcast&utm_medium=description&utm_campaign=none] in 2020. Just as they were preparing for early retirement, Phil tragically passed, and Amy was left to not only navigate a new normal but also take control of her finances. Still reeling from the loss of her husband, Amy hired a financial advisor, which turned out to be one of the best decisions she ever made.   In this episode, Amy shares how she used money check-ins and a year of “experimental deprivation” to speed up her path to retirement. She also discusses the pros and cons of using financial advisors, the differences between the assets-under-management and fee-only models, and how to properly vet an advisor to ensure you’re getting your money’s worth! In This Episode We Cover Why Amy uses a financial advisor to help manage her money in retirement Amy’s journey to financial independence, losing her husband, and retiring early [https://www.biggerpockets.com/blog/retire-early-real-estate-investing?utm_source=podcast&utm_medium=description&utm_campaign=none] Assets under management (AUM) versus fee-only advisors (and which one to hire!) How to reach your FIRE number sooner through “experimental deprivation” Why you need to have regular money check-ins with your significant other And So Much More! Check out more resources from this show on BiggerPockets.com [https://www.biggerpockets.com/] and https://www.biggerpockets.com/blog/money-621 [https://www.biggerpockets.com/blog/money-621] Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com [advertise@biggerpockets.com] Learn more about your ad choices. Visit megaphone.fm/adchoices [https://megaphone.fm/adchoices]

Are we headed right for a recession [https://www.biggerpockets.com/blog/signs-impending-recession?utm_source=podcast&utm_medium=description&utm_campaign=none], or are stocks on sale? We don’t own a crystal ball, but Ricky Mulvey from The Motley Fool [https://fool.com/] is capitalizing on the recent stock market swing [https://www.biggerpockets.com/blog/why-stock-market-swings-dont-scare-re-investors/?utm_source=podcast&utm_medium=description&utm_campaign=none] by loading up on some of his favorite equities. Stay tuned to find out if now is an ideal time for YOU to “stock up,” too! Welcome back to the BiggerPockets Money podcast! In light of the recent market pullback, Ricky is going to share why he thinks it’s the right time to take advantage of low stock prices. He’ll discuss some of his best bargain buys, his biggest portfolio wins and losses in recent years, and, most importantly, the four-step approach you can use to identify stocks that could be set to soar in 2025. If you’re a regular listener, you know that Scott and Mindy are partial to stashing their money in index funds [https://www.biggerpockets.com/blog/biggerpockets-money-podcast-20-the-simple-path-to-wealth-index-funds-explained-with-jl-collins?utm_source=podcast&utm_medium=description&utm_campaign=none], sitting back, and watching their wealth snowball over the long haul. You might say that Ricky has a slightly larger appetite for risk, as he isn’t opposed to picking stocks [https://www.biggerpockets.com/blog/2015-04-16-ridiculousness-of-stock-picking-waste-of-time-young-investors?utm_source=podcast&utm_medium=description&utm_campaign=none], timing the market, and getting out after three to five years. Stick around to find out if his strategy works! In This Episode We Cover Whether now is the time to buy stocks after the recent market pullback Ricky’s four-step approach to finding value in the stock market Using insider buying activity to find potential investing opportunities How to prevent “tax drag” when buying and selling off stocks Reviewing Ricky’s biggest portfolio wins and losses (Meta, Spotify, and more!) And So Much More! Links from the Show Mindy on BiggerPockets [https://www.biggerpockets.com/users/mindyjensen?utm_source=youtube&utm_medium=description&utm_campaign=none] Scott on BiggerPockets [https://www.biggerpockets.com/users/scotttrench?utm_source=youtube&utm_medium=description&utm_campaign=none] Listen to All Your Favorite BiggerPockets Podcasts in One Place [https://www.biggerpockets.com/podcasts?utm_source=youtube&utm_medium=description&utm_campaign=none] Join BiggerPockets for FREE [https://www.biggerpockets.com/signup?utm_source=owned_media] Email Mindy: Mindy@biggerpockets.com Email Scott: Scott@biggerpockets.com BiggerPockets Money Facebook Group [https://www.facebook.com/groups/3307645739309341] Follow BiggerPockets Money on Instagram [https://www.instagram.com/biggerpocketsmoney/] “Like” BiggerPockets Money on Facebook [https://www.facebook.com/BiggerPocketsMoney] BiggerPockets Money YouTube Channel [http://www.youtube.com/@BiggerPocketsMoney] Motley Fool Money Podcast [https://www.fool.com/podcasts/motley-fool-money/] Ricky’s Twitter/X [https://www.twitter.com/rickssoslick] A Simple Path to Wealth [https://www.amazon.com/Simple-Path-Wealth-financial-independence/dp/1533667926] One Up on Wall Street [https://www.amazon.com/One-Up-Wall-Street-Already/dp/0743200403] Get Fast, Affordable Landlord Insurance with Steadily [https://steadily.com/?utm_source=biggerpockets&utm_medium=youtube] Get $100 Off Your Tickets to BPCON2025 in Las Vegas, Nevada [https://get.biggerpockets.com/conference/] Grab Scott’s Book, “Set for Life” [https://store.biggerpockets.com/products/set-for-life-revised-edition?utm_source=owned_media] Sign Up for the BiggerPockets Money Newsletter [https://www.biggerpockets.com/email-subscribe?utm_source=youtube&utm_medium=description&utm_campaign=none] Find an Investor-Friendly Agent in Your Area [http://biggerpockets.com/agentmatch] BiggerNews: Real Estate vs. Stocks, the Ultimate Wealth-Building Debate [https://www.biggerpockets.com/blog/real-estate-955?utm_source=youtube&utm_medium=description&utm_campaign=none] (00:00) Intro (01:09) The Recent Pullback (08:53) Hunting for Value (18:55) Portfolio Wins & Losses (24:58) Holding Periods & “Tax Drag” (30:18) Why Costco Is “Safe” (33:05) How to Pick Stocks (38:50) Connect with Ricky! (40:45) Do Your Research! Check out more resources from this show on BiggerPockets.com [https://www.biggerpockets.com/] and https://www.biggerpockets.com/blog/money-620 [https://www.biggerpockets.com/blog/money-620] Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com [advertise@biggerpockets.com] Learn more about your ad choices. Visit megaphone.fm/adchoices [https://megaphone.fm/adchoices]

Is the 4% rule [https://www.biggerpockets.com/blog/biggerpockets-money-podcast-153-bill-bengen?utm_source=podcast&utm_medium=description&utm_campaign=none] dead? Most FIRE-chasers are using this retirement rule completely wrong, and it could cost them their financial freedom. With stock prices falling and many Americans fearing another recession [https://www.biggerpockets.com/glossary/recession?utm_source=podcast&utm_medium=description&utm_campaign=none], now is the time to tighten up your retirement portfolio and ensure you can survive if stock prices correct or crash. If you get this wrong, you could delay your FIRE for years or have to go back to work mid-retirement. The 4% rule is one of the most bulletproof retirement formulas. It’s simple: Build a portfolio from which you can comfortably withdraw 4% annually. Need $40,000 per year to live? Your FIRE [https://www.biggerpockets.com/blog/fire-financial-independence-retire-early?utm_source=podcast&utm_medium=description&utm_campaign=none] number is $1,000,000. Need $100,000 per year? Then you’re looking at $2,500,000. This math has been checked, double-checked, and triple-checked to withstand even the greatest economic depressions. However, most people have their portfolio set up WRONG, and it could put them at significant risk. So, how do you ENSURE you can retire (early) with the 4% rule? What hedges should you make in your portfolio so your wealth stays afloat even as the economic tide starts to turn? What are Scott and Mindy doing now to prepare for a rocky stock market? Don’t miss this one—it could cost you your FIRE! In This Episode We Cover The 4% rule explained and whether it still works in 2025 and during market downturns  Why your FIRE portfolio [https://www.biggerpockets.com/blog/money-607?utm_source=podcast&utm_medium=description&utm_campaign=none] is WRONG, and it could be at massive risk right now  How to prepare for an economic downturn to ensure you stay FIREd or on the path to FIRE What Scott is selling [https://www.biggerpockets.com/blog/money-599?utm_source=podcast&utm_medium=description&utm_campaign=none] and buying right now to protect his wealth (will his strategy work?) Alternatives to the 4% rule that will protect your retirement portfolio even during the greatest of depressions  And So Much More! Links from the Show Mindy on BiggerPockets [https://www.biggerpockets.com/users/mindyjensen?utm_source=youtube&utm_medium=description&utm_campaign=none] Scott on BiggerPockets [https://www.biggerpockets.com/users/scotttrench?utm_source=youtube&utm_medium=description&utm_campaign=none] Listen to All Your Favorite BiggerPockets Podcasts in One Place [https://www.biggerpockets.com/podcasts?utm_source=youtube&utm_medium=description&utm_campaign=none] Join BiggerPockets for FREE [https://www.biggerpockets.com/signup?utm_source=owned_media] Email Mindy: Mindy@biggerpockets.com Email Scott: Scott@biggerpockets.com BiggerPockets Money Facebook Group [https://www.facebook.com/groups/3307645739309341] Follow BiggerPockets Money on Instagram [https://www.instagram.com/biggerpocketsmoney/] “Like” BiggerPockets Money on Facebook [https://www.facebook.com/BiggerPocketsMoney] BiggerPockets Money YouTube Channel [http://www.youtube.com/@BiggerPocketsMoney] BiggerPockets Real Estate 1,095 - Scott Trench: How I'm Protecting My Money From “Irrational Exuberance” [https://www.biggerpockets.com/blog/real-estate-1095?utm_source=podcast&utm_medium=description&utm_campaign=none] BiggerPockets Money 120 - Are FIRE Naysayers Bad at Math? Yes. with Michael Kitces [https://www.biggerpockets.com/blog/biggerpockets-money-podcast-120early-retirementasset-allocation-safe-withdrawal-rates-michael-kitces?utm_source=podcast&utm_medium=description&utm_campaign=none] The Rational Investor’s Case Against Bitcoin [https://www.biggerpockets.com/blog/why-you-should-reject-bitcoin?utm_source=podcast&utm_medium=description&utm_campaign=none] Dow Jones - DJIA - 100 Year Historical Chart [https://www.macrotrends.net/1319/dow-jones-100-year-historical-chart] Try REsimpli, The Only All-In-One Real Estate Investor CRM Software That Helps You Manage Data, Marketing, Sales, and Operations [https://resimpli.com/biggerpockets?utm_source=bigger_pockets&utm_medium=youtube_qr_code&utm_campaign=the_money_show] Get to FIRE Faster with “Set for Life” [https://store.biggerpockets.com/products/set-for-life-revised-edition?utm_source=owned_media] Sign Up for the BiggerPockets Money Newsletter [https://www.biggerpockets.com/email-subscribe?utm_source=youtube&utm_medium=description&utm_campaign=none] Find an Investor-Friendly Agent in Your Area [http://biggerpockets.com/agentmatch] (00:00) Is the 4% Rule Dead? (04:39) You CANNOT FIRE with This (11:42) How to Prepare for Downturns (21:12) Assets That Are At Risk (23:17) What Scott’s Buying/Selling (28:29) Alternatives to 4% Rule Portfolio (34:21) Do You Trust the 4% Rule? Check out more resources from this show on BiggerPockets.com [https://www.biggerpockets.com/] and https://www.biggerpockets.com/blog/money-619 [https://www.biggerpockets.com/blog/money-619] Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com [advertise@biggerpockets.com] Learn more about your ad choices. Visit megaphone.fm/adchoices [https://megaphone.fm/adchoices]