FI by 34 After Making “Calculated” Bets that 99% of Us Would NOT Take

FI by 34 After Making “Calculated” Bets that 99% of Us Would NOT Take

If you follow the almost unbelievable path of today’s guest, you, too, could achieve financial independence in your thirties. Would we recommend mimicking his strategy step-by-step? No! Because if you get it wrong, you could be further from FIRE than when you started. Only the most prudent, risk-tolerant, and financially savvy among us could do what Andrew Schrader did. After racking up six figures in car loans and student debt, Andrew knew something needed to change quickly. Thanks to his financial discipline, he paid his debts down fast, but what would he now do with the money he was sending toward debt every month? After a coworker threatened to quit on the spot without a care in the world (the coworker was FI), Andrew knew exactly what his next goal was. So, he set out to do the impossible: Stretch his dollar as frugally as possible, spending in a year what many Americans live off of for a month and taking calculated bets that he knew the risks of. His unbelievable journey to FI will have you squirming in your chair (like Mindy did!) as you hear what incredible lengths you can go to reach your financial goals WAY faster than most Americans. In This Episode We Cover How to reach financial freedom in your thirties by taking “calculated” risks The exact method Andrew used to pay off $100,000 in debt Why house hacking may be the single best decision for FIRE-chasers Why Andrew put an entire home renovation on a credit card when he was close to broke Emergency funds 101 and why it’s crucial to have money in the bank when buying real estate Saving tons of money by cutting out a “category” every month 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: Mindy@biggerpockets.com Email Scott: Scott@biggerpockets.com BiggerPockets Money Facebook Group BiggerPockets Creative Financing Forum Finding and Funding Great Deals Raising Private Capital, Revised Edition Wealth without Cash Andrew’s YouTube Channel Support Today’s Show Sponsor, Connect Invest, the Alternative Way to Earn Passive Income Through Real Estate Grab "The Book on Investing in Real Estate with No (and Low) Money Down" Find an Investor-Friendly Agent in Your Area House Hacking 101: What It Is and How to Get Started Connect with Andrew (00:00) Intro (01:48) Stock Betting and $100K Debt (04:12) Watching His Coworker FIRE (07:16) Income and “Overtime” (08:41) Taking SERIOUS Risk (BIG Reward!) (16:21) 10Xing His Money (19:46) Rock Bottom Expenses (27:34) Building a Business (36:45) Quit His Job? (43:16) Make the RIGHT Bets Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-583 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)

Is Refinancing Worth It with Today’s Falling Rates? (+ How Much It’ll Cost)

Is Refinancing Worth It with Today’s Falling Rates? (+ How Much It’ll Cost)

When should you refinance your mortgage? Is now the time since interest rates have finally fallen? Or will refinancing down to today’s rates not be worth it when, six months from now, interest rates c...

20 Sep 202435min

564: How to Make Truly Passive Income with “Syndication” Real Estate

564: How to Make Truly Passive Income with “Syndication” Real Estate

Visit PassivePockets, your resource for passive investing with syndications.  Passive investing is most people’s goal, especially if they’re trying to achieve FIRE. They don’t want to be weighed down...

17 Sep 202436min

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 job...

13 Sep 202430min

562: Police Officer Surpasses $10K/Month FI Goal w/Out-of-State Sober Living Investments

562: Police Officer Surpasses $10K/Month FI Goal w/Out-of-State Sober Living Investments

Achieving your FI number in just four years? If you want to do it too, you must try something different. This couple found a niche within a niche, allowing them to hit the coveted “1% rule” in real es...

10 Sep 202438min

561: What Happens if High Expenses Extinguish Your FIRE?

561: What Happens if High Expenses Extinguish Your FIRE?

You did it; you achieved FIRE! After over a decade of hard work, you’ve reached financial independence and can retire early. You’re making more money than you spend from passive income, work-optional,...

6 Sep 202442min

560: Dude ACTUALLY Withdraws From His 401(k) and Retires at 47

560: Dude ACTUALLY Withdraws From His 401(k) and Retires at 47

Did you know you can use your 401(k) to retire early? Yep, it’s possible. And today’s guest, Eric Cooper, is doing it atage 47! Most FIRE chasers search for how to withdraw from a 401(k) early but kno...

3 Sep 202446min

559: How I Retired in My Mid-30s While Working Just 4 Hours a Week

559: How I Retired in My Mid-30s While Working Just 4 Hours a Week

What if you could “retire” early, working only FOUR hours a week? Coast FIRE achiever Diania Merriam did just that! After a decade of hustle in corporate America, Diania found herself financially behi...

30 Aug 202429min

558: How to Start Investing for Retirement: 401(k), IRA, Roth?

558: How to Start Investing for Retirement: 401(k), IRA, Roth?

The IRA vs. 401(k). You’ve heard of these retirement accounts before, but do you know the difference between the two? Maybe you have a 401(k) at work and have been diligently getting your employer mat...

27 Aug 202436min

Populært innen Business og økonomi

lydartikler-fra-aftenposten
stopp-verden
dine-penger-pengeradet
rss-penger-polser-og-politikk
e24-podden
rss-borsmorgen-okonominyhetene
pengesnakk
tid-er-penger-en-podcast-med-peter-warren
pengepodden-2
utbytte
rss-markedspuls-2
liberal-halvtime
livet-pa-veien-med-jan-erik-larssen
morgenkaffen-med-finansavisen
rss-politisk-preik
finansredaksjonen
lederpodden
rss-pa-konto
rss-investering-gjort-enkelt
stormkast-med-valebrokk-stordalen