BiggerPockets Money2 Aug 2024

551: Retired Early at 44 by Buying These "Boring" Investments

Todd retired early at age forty-four, just three years after discovering the FIRE movement. The most interesting part? He quit without reaching his FIRE number. That’s right. After realizing he couldn’t go one more day working his job, he quit, even without the perfect amount of money on the sidelines. Did he survive in the FIRE life, or did he eventually have to return to work to rebuild his portfolio? Stick around and find out!

Although Todd made a good income, he spent most of it on his lifestyle. As his family’s sole provider, every expense took away from his income, leaving him with a respectable but by no means large savings rate. One day, as Todd surfed the internet at work, he stumbled upon a financial independence blog post, and the rest was history! He chased FIRE ruthlessly for three years and eventually was able to retire on his terms.

If you’re looking to retire in your forties, quit your job, find financial freedom, or finally grow your savings, tune in for Todd’s advice. Even if you don’t have a high income, you can follow his cost-cutting, “boring” investing advice to achieve financial independence faster than you thought possible!

In This Episode We Cover

The “boring” investments that lead you to financial independence and early retirement

Coming up with your FIRE number and whether the 4% rule still works

Getting richer in retirement and how to build wealth WITHOUT working

How cutting your expenses will fast-track your path to early retirement

Quitting your job and why you MUST prepare for life in retirement BEFORE you walk away from your salary

And So Much More!

Links from the Show

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Scott on BiggePockets

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Email mindy@biggerpockets.com for the 4% Rule Article or Todd’s Contact Information

See Mindy at BPCON2024 in Cancun!

How to Retire Early (From Someone Who Did at Age 27)

00:00 Intro

01:09 Finding the FIRE Movement

03:24 Getting His Wife on Board

04:38 His FIRE Number

05:32 FIRE Movement Myths

07:37 Getting Richer in Retirement

11:55 Quitting His Job!

13:14 Prepare for Post-FI!

Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-551

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