The stock market is shifting, and your portfolio needs to change NOW if you want to reach or stay FIRE (financial independence, retire early). Many early retirees are sitting anxiously, watching their net worth fall by 10% (or more), making each withdrawal from their portfolio increasingly risky. If you’re close to financial independence or are retired early already, you CANNOT risk losing the gains you’ve worked so hard for. This is what we’re doing NOW to keep our FIRE portfolios crash-resistant.Last month, Scott talked about his big decision to sell off a chunk of his index fund portfolio in fears of overvalued stock prices. What followed? A significant stock sell-off, with some major indexes falling 10% already. Scott urges those close to FIRE to “lock in” their gains and avoid unnecessary risks to push their FIRE numbers higher.So, what did Scott move his money into, and should you do the same? Should you switch to bonds for a safer but lower-return correction hedge? What happens if this stock downturn lasts years? Should someone in their 20s or 30s, just starting on the FIRE path, stop investing or double down? We’re answering all of your burning FIRE questions today! In This Episode We CoverWhy Amy uses a financial advisor to help manage her money in retirementAmy’s journey to financial independence, losing her husband, and retiring earlyAssets under management (AUM) versus fee-only advisors (and which one to hire!)How to reach your FIRE number sooner through “experimental deprivation”Why you need to have regular money check-ins with your significant otherAnd So Much More!Links from the ShowMindy on BiggerPocketsScott on BiggerPocketsListen to All Your Favorite BiggerPockets Podcasts in One PlaceJoin BiggerPockets for FREEEmail Mindy: [email protected] Scott: [email protected] Money Facebook GroupFollow BiggerPockets Money on Instagram“Like” BiggerPockets Money on FacebookBiggerPockets Money YouTube ChannelSave $100 on Real Estate’s Biggest Event of the Year, BPCON2025Get to FIRE Faster with “Set for Life”Sign Up for the BiggerPockets Money NewsletterFind an Investor-Friendly Agent in Your AreaBiggerPockets Real Estate 1,095 - Scott Trench: How I’m Protecting My Money From “Irrational Exuberance”(00:00) Stock Market Update(06:44) Close to FIRE? Do This(14:41) Fix Your FIRE Portfolio(17:20) Lock-In Your FIRE!(19:02) Scott’s 2025 FIRE Portfolio (21:30) Already Retired/FIRE?(23:46) What About Taxes?(28:49) What if This Crash Lasts? (35:00) Start Shifting Toward Retirement Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-622Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoicesSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Ask this episode

“What did the council decide on item 42?” — answered with the speaker and the moment.

Transcript

Related