The 5 Biggest Money Fears Keeping You from FIRE (and How to Overcome Them)

Many people struggle with money anxiety, even those in the FIRE community. Your money fears could keep you on the sidelines, or it could have the opposite effect, making you ultra-conservative with your retirement savings. Today, we’re diving into five of the most common financial fears, whether they’re worth fretting about, and what to do about them!

Welcome back to the BiggerPockets Money podcast! Do you ever worry about your finances? You’re not alone! Maybe you’re concerned about your FIRE number being too low and running out of money in retirement. Maybe you’ve wondered whether you’ll ever be able to afford a house or if the “grind” to financial independence is even worth it. We’ve pulled the most common concerns about money and are going to respond to each of them in today’s show!

Tune in to learn how much money you actually need to comfortably retire, how to deal with burnout on the journey to FIRE, and if you’re “missing out on life” by practicing frugality in your youth. Scott and Mindy will even debate whether the returns from real estate investing are worth the trouble of managing rental properties!

In This Episode We Cover

How much money you actually need to retire (and if the four-percent rule still works)

Renting versus buying a house amidst today’s high home prices and interest rates

Whether the “grind” to early retirement is worth it (and what you should do if it’s not!)

Active versus passive real estate investing (and which delivers the highest returns)

Whether you “miss out on life” by living frugally and racing toward retirement

And So Much More!

Links from the Show

Mindy on BiggerPockets

Scott on BiggerPockets

Listen to All Your Favorite BiggerPockets Podcasts in One Place

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Email Mindy: Mindy@biggerpockets.com

Email Scott: Scott@biggerpockets.com

BiggerPockets Money Facebook Group

BiggerPockets Money 455 – REITs: How to Make Real Estate Money WITHOUT Owning Rentals

Rent vs. Buy Spreadsheet

The Passive Real Estate Investing Show

The 1% Rule

“Determining Withdrawal Rates Using Historical Data”

Try Baselane, the One Platform for All Your Property Banking & Finances

Buy Scott and Mindy’s Book, “First-Time Home Buyer”

Find an Investor-Friendly Agent in Your Area

BiggerPockets Money 522 – How to Get PAID to Live in an Affordable City & Fast-Track Financial Freedom

(00:00) Intro

(01:27) “Missing Out” on Life

(08:01) Running Out of Money

(15:41) High Housing Costs

(24:10) Low Rental Property Returns

(32:13) Burnout Before FIRE

(34:19) What We’re Reading!

Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-587

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