Does FIRE seem impossible while raising a family? We’re about to prove that you CAN have it all. Emily and Joel are financially independent while raising five kids and still have the money to travel the world, take plenty of vacations, and sleep in without worrying about a job. They reached FI in just over a decade and did it without EVER having a high income. How’d they do it? One “financial superpower” allowed them to do what most people won’t.Emily and Joel started with $150,000 in student loan debt. Their accounts dwindled at the end of every month, so they began to pay off their loans with the “debt snowball” method. Fast forward a few years, and they were debt-free, but now they had a new challenge: building their net worth!Today, they’re sharing the incredible journey they took to go from personal finance zeros to heroes, the “why” behind achieving FI at such young ages, and how they did it all (including keeping expenses SUPER low) while raising not one, not two, but FIVE children. Think FI isn’t possible for you? Think again—copy Emily and Joel’s plan!In This Episode We CoverHow to pay off debt FAST with the “debt snowball” method Minimizing your expenses and how spending less gets you to FIRE way fasterWhy you DON’T need to cut out travel/vacations on your path to financial freedomThe “financial superpower” you must cultivate if you want to retire early What 100% of Emily and Joel’s portfolio is in and the simple path to building wealthStarting side hustles that pay for your life and why working while FI is NOT a bad thing And So Much More!Links from the ShowMindy on BiggerPocketsScott on BiggerPocketsKyle on BiggerPocketsListen to All Your Favorite BiggerPockets Podcasts in One PlaceJoin BiggerPockets for FREE50+ Rentals After Starting in Her 50s and How “Late Starters” Can Get AheadFrom 150k in Debt to FIRE in Their Mid-30s (With 5 Kids!)ISI Team CampsReach FIRE Faster with “Set for Life”Find an Investor-Friendly Agent in Your AreaSee Mindy at BPCON2024 in Cancun!The Simple Path to Wealth—Index Funds Explained with JL Collins(00:00) Intro (01:07) Six-Figure Debt and Dave Ramsey (05:58) "Snowballing” $150K in Debt (08:27) $1,000,000 FI Number (14:06) Financial Superpowers (15:27) The “Why” Behind FI(18:37) Serious Side Hustles(29:29) Did They Retire?(34:11) Connect with Emily and JoelCheck out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-566Interested 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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