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How to Reach FIRE Based on Your Income ($45K - $100K/Year)

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Manage episode 442949390 series 2566047
Content provided by BiggerPockets. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by BiggerPockets or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.

What does it mean to “win” financially in your income bracket? To us, the end goal is always FIRE (Financial Independence, Retire Early), and if you’re chasing financial freedom, this is the show for you. We’re breaking down the money moves you need to make based on your income bracket, going from $45,000 to $100,000 per year, and how to stretch your dollar the furthest so you can invest, save, and reach FIRE faster.

If you’re at the lower end of the income scale, we’ll give you time-tested methods to boost your income and use your time wisely so you can start stockpiling cash TODAY. If you have a high income, there’s still work to be done as you need to find the best way to keep the most of your income so you can use it to acquire wealth-building assets.

Regardless of how much money you make, you CAN achieve FIRE if you know the proper steps. The good news? We’re sharing those steps today, so stick around!

In This Episode We Cover

How to speed up your path to financial independence based on your income bracket

Why we disagree about retirement account investing when you’re just starting your career

Ways to make more money and side hustles that can boost your income

The headache-free vs. hands-on approach to investing for FIRE (and who should take which path)

Lifestyle creep and avoiding overspending (EVEN if you have a higher income)

How much money we reasonably think you’ll need to achieve FIRE

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 Money 32 - Financial Freedom Through Small Life Changes and a Modest Real Estate Portfolio w/Planting our Pennies

BiggerPockets Money 35 - Hacking Your Life to Live for (Almost) Free with Craig Curelop

BiggerPockets Money 97 - Intentionally Choosing the Path to Financial Independence with Financial Mechanic

BiggerPockets Money 110 - Systematically Increasing Income and Intentionally Decreasing Spending with A Purple Life

BiggerPockets Money 169 - Breaking the Taboo of Talking About Money with Friends, Family, and Bosses w/Erin Lowry

BiggerPockets Money 328 - The Best Alternative Investment No One Knows About w/Alex Breshears and Beth Johnson

The One Thing

How to Win Friends and Influence People

The E-Myth Revisited

The Go-Giver

The Challenger Sale

Learn Private Money Lending with “Lend to Live”

Find an Investor-Friendly Agent in Your Area

See Mindy and Scott at BPCON2024 in Cancun!

FIRE in 2024: What We’d Do Differently If We Started Over Today

(00:00) Intro

(01:08) $45,000/Year Income

(12:37) $75,000/Year Income

(23:11) $100,000/Year Income

(28:48) How Much for FIRE?

Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-568

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

  continue reading

587 episodes

Artwork
iconShare
 
Manage episode 442949390 series 2566047
Content provided by BiggerPockets. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by BiggerPockets or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.

What does it mean to “win” financially in your income bracket? To us, the end goal is always FIRE (Financial Independence, Retire Early), and if you’re chasing financial freedom, this is the show for you. We’re breaking down the money moves you need to make based on your income bracket, going from $45,000 to $100,000 per year, and how to stretch your dollar the furthest so you can invest, save, and reach FIRE faster.

If you’re at the lower end of the income scale, we’ll give you time-tested methods to boost your income and use your time wisely so you can start stockpiling cash TODAY. If you have a high income, there’s still work to be done as you need to find the best way to keep the most of your income so you can use it to acquire wealth-building assets.

Regardless of how much money you make, you CAN achieve FIRE if you know the proper steps. The good news? We’re sharing those steps today, so stick around!

In This Episode We Cover

How to speed up your path to financial independence based on your income bracket

Why we disagree about retirement account investing when you’re just starting your career

Ways to make more money and side hustles that can boost your income

The headache-free vs. hands-on approach to investing for FIRE (and who should take which path)

Lifestyle creep and avoiding overspending (EVEN if you have a higher income)

How much money we reasonably think you’ll need to achieve FIRE

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 Money 32 - Financial Freedom Through Small Life Changes and a Modest Real Estate Portfolio w/Planting our Pennies

BiggerPockets Money 35 - Hacking Your Life to Live for (Almost) Free with Craig Curelop

BiggerPockets Money 97 - Intentionally Choosing the Path to Financial Independence with Financial Mechanic

BiggerPockets Money 110 - Systematically Increasing Income and Intentionally Decreasing Spending with A Purple Life

BiggerPockets Money 169 - Breaking the Taboo of Talking About Money with Friends, Family, and Bosses w/Erin Lowry

BiggerPockets Money 328 - The Best Alternative Investment No One Knows About w/Alex Breshears and Beth Johnson

The One Thing

How to Win Friends and Influence People

The E-Myth Revisited

The Go-Giver

The Challenger Sale

Learn Private Money Lending with “Lend to Live”

Find an Investor-Friendly Agent in Your Area

See Mindy and Scott at BPCON2024 in Cancun!

FIRE in 2024: What We’d Do Differently If We Started Over Today

(00:00) Intro

(01:08) $45,000/Year Income

(12:37) $75,000/Year Income

(23:11) $100,000/Year Income

(28:48) How Much for FIRE?

Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-568

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

  continue reading

587 episodes

All episodes

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