Stay ConnectedFor those who have money… or want more of it!
Join Mindy Jensen and Scott Trench (from BiggerPocketsMoney.com) weekly for the BiggerPockets Money Podcast. Each week, financial experts Mindy and Scott interview unique and powerful thought leaders about how to earn more, keep more, spend smarter, and reach financial independence.
Copyright: © Copyright © 2024 BiggerPockets. All Rights Reserved. Disclaimer: The information contained in this podcast is for general informational purposes only. In no event will BiggerPockets be liable for any loss or damage derived from the information provided.
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.
Learn more about your ad choices. Visit megaphone.fm/adchoices
See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
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
Listen to All Your Favorite BiggerPockets Podcasts in One Place
Email Mindy: Mindy@biggerpockets.com
Email Scott: Scott@biggerpockets.com
BiggerPockets Money Facebook Group
Follow BiggerPockets Money on Instagram
“Like” BiggerPockets Money on Facebook
Subscribe to the BiggerPockets Money YouTube Channel!
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
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
Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com
Learn more about your ad choices. Visit megaphone.fm/adchoices
See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
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 advertise@biggerpockets.com
Learn more about your ad choices. Visit megaphone.fm/adchoices
See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
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
Listen to All Your Favorite BiggerPockets Podcasts in One Place
Email Mindy: Mindy@biggerpockets.com
Email Scott: Scott@biggerpockets.com
BiggerPockets Money Facebook Group
Follow BiggerPockets Money on Instagram
“Like” BiggerPockets Money on Facebook
Subscribe to the BiggerPockets Money YouTube Channel!
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
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
When You Should (and Shouldn’t) Hire a Financial Advisor | Life After FIRE
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-638
Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com
Learn more about your ad choices. Visit megaphone.fm/adchoices
See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
For decades, the 4% rule has been the calculation every FIRE chaser has used to determine when they canretire 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 joband 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
Listen to All Your Favorite BiggerPockets Podcasts in One Place
Email Mindy: Mindy@biggerpockets.com
Email Scott: Scott@biggerpockets.com
BiggerPockets Money Facebook Group
Follow BiggerPockets Money on Instagram
“Like” BiggerPockets Money on Facebook
Subscribe to the BiggerPockets Money YouTube Channel!
Connect with Tyler on Instagram
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
Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com
Learn more about your ad choices. Visit megaphone.fm/adchoices
See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
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! Chrishad been hustling, saving money, and chasing financial freedomfor years before experiencing abig 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 advertise@biggerpockets.com
Learn more about your ad choices. Visit megaphone.fm/adchoices
See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
You’re part of the FIRE movement (financial independence, retire early) so you can quit your job, have complete time freedom, and truly enjoy your life. But what if early retirement isn’t all that it’s cracked up to be? What if you grind for years or decades, reach your FIRE number, quit your job, and realize… you’re bored? Your schedule is wide open, but what do you fill it with? You start asking yourself, “Did I pursue FIRE for financial freedom—or to escape something else entirely?”
Tyler Gardner, former portfolio manager and financial advisor, has seen the toxic side of FIRE far too often. Tyler believes that working on something you love can be far more meaningful than early retirement, and he might be right. Early retirees often struggle with their post-career lifestyle, and many find they can’t thrive without meaningful work. This identity shift can cause profound dissatisfaction, even after so much sacrifice to get to this point.
Tyler’s advice: slowly phase out of work or have other income streams that can keep you going, not just for your mental health but your portfolio’s health. So, how do you do that? Mindy, Scott, and Tyler have a meaningful debate, with significant disagreements, on the best way to phase out full-time work, why a 100% stock portfolio may be safer than you thought, and the toxic side of FIRE nobody talks about.
In This Episode We Cover
The problem with FIRE and why early retirement won’t solve everything
The #1 risk early retirees are NOT prepared for and how to ensure you keep your FIRE blazing
How to phase out of work even if you have a demanding, full-time, 40+ hours per week job
Why working during early retirement is not a bad thing and has massive benefits
Creating cash flow before you retire and how to minimize the dreaded “sequence of returns risk”
And So Much More!
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-635
Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com
Learn more about your ad choices. Visit megaphone.fm/adchoices
See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Fear that early retirement is out of the question because you have too much debt? It’s not game over. Whether you’re debt-free or still chipping away at your student loans, today’s guests are proof that FIRE is never too far out of reach—even if you’ve got half a million dollars in debt!
Welcome back to the BiggerPockets Money podcast! Amirra and Mazi Condelee’s first date was an all-timer. While many consider personal finance a taboo topic, they cut right to the money talk—specifically, debt. And it was a good thing they did because they’ve racked up a combined $500,000 in student debt. Most would assume this spells doom for financial independence, but Amirra and Mazi knew they could pay it off by increasing their income, cutting costs, and staying disciplined.
In just five years, they’ve snowballed out of student loan debt and toward their long-term goal—retiring in their 50s. Now that this power couple is nearly debt-free, they’re focused on saving for retirement. Tune in to learn what they still need to do to reach their (high) FIRE number, why they refuse to downsize their dreams, and how they plan to spend their retirement!
In This Episode We Cover
How Amirra and Mazi crushed $500,000 in student loan debt in just five years
Best practices for paying off debt and fast-tracking financial independence
How to determine whether your FIRE number is too high (or low!)
Themoney conversations you and your partner NEED to have
How to “travel hack” your way to FREE vacations (without spending more)
And So Much More!
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-634
Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com
Learn more about your ad choices. Visit megaphone.fm/adchoices
See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Wealth and health are closely intertwined, especially here in the US, where the high cost of healthcare can put significant financial pressure on families. But is there a remedy to these exorbitant expenses that Americans are missing? Stay tuned and we’ll show you how to negotiate your medical bills—even if you’ve reached FIRE!
Welcome back to the BiggerPockets Money podcast! Unpredictable healthcare costs keep many would-be retirees tethered to their nine-to-five jobs, but today’s guest has a solution. Jared Walker founded Dollar For, a nonprofit organization that has helped erase over $83 million in medical costs for everyday Americans. How? The Affordable Care Act (ACA) requires many healthcare providers to offer a program that discounts costs for patients, so Jared and his team simply use it to negotiate people’s medical bills on their behalf.
High healthcare costs affect everyone, whether you’re facing hardship, trying to reach financial independence, or already retired. In this episode, Jared will share tips anyone can use to minimize their healthcare costs and negotiate their own medical bills!
In This Episode We Cover
How to negotiate and lower your medical bills (even if you’re retired)
Saving thousands on healthcare with this Affordable Care Act (ACA) program
How to use cash payments as leverage when negotiating medical debt
The healthcare “hack” that helps you spot erroneous or exorbitant charges
The two best ways to proactively minimize healthcare costs
And So Much More!
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-633
Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com
Learn more about your ad choices. Visit megaphone.fm/adchoices
See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Most people chasing FIRE (financial independence, retire early) are doing it all out of order, and it’s costing them years of financial freedom. So, we thought, “What’s the fastest way to achieve FIRE, and which steps would you take if you were starting from scratch?” Today, we’re bringing you a supercharged financial independence plan, sharing the exact financial order of operations that’ll take you from a $1,000 emergency fund to fully-fledged early retirement.
We know the steps because we’re reverse-engineering our own paths to financial independence, and we WISH we had done some of these earlier. 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.
We’re going through retirement accounts, emergency funds, cash-flowing investments, and side hustles to help you earn more. Plus, what to do once you make TOO much money to invest in tax-advantaged retirement accounts.
In This Episode We Cover
The exact financial order of operations to reach financial independence fastest
The bare minimum emergency fund you should have in your bank account at all times
How to calculate your FIRE number in five seconds so you know your goal
What to do when you make TOO much money to invest in a Roth IRA
When to STOP investing in retirement accounts to avoid the middle-class trap
Moves to make as soon as you’re retired early that’ll make your FIRE last even longer
And So Much More!
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-632
Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com
Learn more about your ad choices. Visit megaphone.fm/adchoices
See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Our TOPPODCAST Picks 
