563: Why Aren’t More “Normal” People Achieving FIRE?

563: Why Aren’t More “Normal” People Achieving FIRE?

Has BiggerPockets Money become too focused on FIRE (financial independence, retire early)? For the past seven years, we’ve been bringing you shows highlighting the journeys of those who left their jobs to enjoy early retirement.Some of these guests did it faster than others by making more money, increasing their frugality, investing smart, or building a business. But the question many of our listeners are wondering is: Is this even possible for the average, “normal” person? Today, we’re taking a hard look at the show’s future and asking ourselves whether or not focusing on FIRE is still the right path forward. Should we shift topics to help the everyday American get a financial leg up, or is continuing the FIRE-focused path the best way to help YOU, our listener? This isn’t a rhetorical question; we genuinely want to know! After this episode, join the BiggerPockets Money Facebook group thread, and let us know which stories YOU want to hear the most! In This Episode We Cover Why the BiggerPockets Money Podcast rarely brings on “normal” guests achieving FIRE Can anyone achieve FIRE, and if so, how do they get there? The four financial levers you can pull to put you on the path to financial freedom The advanced financial tactics BiggerPockets Money teaches you to grow your wealth What to do if you feel like you can’t make any progress towards early retirement And So Much More! Links from the Show BiggerPockets Money Facebook Group Network with Other Investors on The Path to FIRE Through the BiggerPockets Forums Finance Review Guest Onboarding Join BiggerPockets for FREE Mindy on BiggerPockets Scott on BiggerPockets Listen to All Your Favorite BiggerPockets Podcasts in One Place Apply to Be a Guest on The Money Show Podcast Talent Search! Find an Investor-Friendly Agent in Your Area Find Investor-Friendly Lenders BiggerPockets Money Group BiggerPockets Money Facebook Group BiggerPockets Money 63 - Financial Freedom With 5 Kids IS Possible with Jordan Klint BiggerPockets Money 130 - Refusing to Retire at 65: How a Couple in Their 40s Managed to Hit FI in 12 Years w/Susan and Norm Episode 560 - Dude ACTUALLY Withdraws From His 401(k) and Retires at 47 w/Eric Cooper Get on the Path to Financial Independence with “Set for Life” See Mindy and Scott at BPCON2024 in Cancun! What Is the FIRE Movement? 00:00 Intro 02:16 Talking Too Much About FIRE? 08:59 FIRE Isn't For Everyone 11:53 What is FIRE? 16:27 Can You Hit FIRE Being "Normal"? 22:42 Who Should Listen to BP Money? Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-563 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

Episoder(741)

13: Achieving FI Before 40 Despite Breaking Every Financial "Rule" with Tanja from Our Next Life

13: Achieving FI Before 40 Despite Breaking Every Financial "Rule" with Tanja from Our Next Life

Tanja reached financial independence (FI) and retired from her full-time, high-stress job at age 38—despite not being a natural saver, having purchased two brand-new cars in the past, and not maxing o...

26 Mar 201849min

12: How to Become an “Overnight” Success in 10 Short Years with David Greene

12: How to Become an “Overnight” Success in 10 Short Years with David Greene

While David Greene is a long-time real estate investor, best-selling author, and one of the top real estate agents in California today, his career started in the most unlikely of places—as a busboy at...

19 Mar 20181h 2min

11: Financial Freedom in Less Than Five Years with Joel from FI 180

11: Financial Freedom in Less Than Five Years with Joel from FI 180

Joel and his wife were barreling down the wrong financial path - saving nothing and spending more than $100,000 every year. A freak car accident literally changed the direction of their lives by causi...

12 Mar 20181h 14min

10: Designing a Frugal But Luxurious FI Life by Age 32 with Liz Thames

10: Designing a Frugal But Luxurious FI Life by Age 32 with Liz Thames

In March, 2014, Liz and her husband made the conscious decision to stop their big city, big spending lifestyle, and adopt a frugal mindset in order to realize their new goal of moving out of the hustl...

5 Mar 20181h 6min

9: Financial Independence at Age 30 (by House Hacking + Side Hustles) with Drew from Guy On Fire

9: Financial Independence at Age 30 (by House Hacking + Side Hustles) with Drew from Guy On Fire

What would happen if someone had early financial independence in mind right out the gate, upon graduating college? Imagine the amount of money that person could stockpile... Today’s guest had exactly ...

26 Feb 201856min

8: From Financially Perfect to Rock Bottom (and back again) with Tiffany “The Budgetnista” Aliche

8: From Financially Perfect to Rock Bottom (and back again) with Tiffany “The Budgetnista” Aliche

Tiffany Aliche grew up talking about money. Her dad was an accountant,  her mother actively  engaged the children in grocery  shopping and other areas of finance. She was a teacher at a private school...

19 Feb 201855min

7: How Breakfast Food Motivated Financial Freedom with Mr. and Mrs. Waffles on Wednesday

7: How Breakfast Food Motivated Financial Freedom with Mr. and Mrs. Waffles on Wednesday

Mr. and Mrs. Waffles on Wednesday (WoW) were doing everything wrong. They ran up ridiculous tabs at a local restaurant/bar just ‘hanging out,’ while getting abysmal returns from their financial planne...

12 Feb 20181h 9min

6: Fearlessly Paying off Massive Student Debt on $30,000 per Year with Sarah Wilson

6: Fearlessly Paying off Massive Student Debt on $30,000 per Year with Sarah Wilson

Are you tired of hearing success stories from folks who are earning $60,000, $80,000, or even $100,000 or more paying off debt and moving toward financial freedom? Where’s the inspiration for the fol...

5 Feb 201832min

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