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 CoverHow 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 brokeEmergency 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 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 GroupBiggerPockets Creative Financing ForumFinding and Funding Great DealsRaising Private Capital, Revised EditionWealth without CashAndrew’s YouTube Channel Support Today’s Show Sponsor, Connect Invest, the Alternative Way to Earn Passive Income Through Real EstateGrab "The Book on Investing in Real Estate with No (and Low) Money Down"Find an Investor-Friendly Agent in Your AreaHouse Hacking 101: What It Is and How to Get StartedConnect 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-583Interested 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.

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