Think you’ve blown your chances of achieving FIRE? You haven’t! Just ask Nik Johnson, who spent years growing his nest egg, only to have it completely wiped out with one bad financial decision. Despite losing everything, he managed to rebuild it from ground zero and still retire early!Welcome to another episode of “Life After FIRE”! Nik and his wife had done everything right. They practiced frugality, saved aggressively, and invested at every opportunity. But everything was turned on its head when Nik decided to empty his retirement accounts and open a car dealership. Within just one year, Nik’s company had gone belly up, and as a result, all the money he had worked so hard to save was gone. It seemed that he had missed his one shot at early retirement, but rather than giving up on that dream, he started over. If he could do it once, he could do it again!So, Nik found a W2 job, picked up a second job to fast-track his savings, and started throwing all his money at retirement accounts and real estate investments, and now, he and his wife are recently retired! Stick around as Nik shows you how to avoid the middle-class trap, what life looks like after FIRE, and the importance of community once you retire!In This Episode We CoverHow Nik built, lost, and rebuilt his investments and still achieved FIRESupercharging your investments by creating extra income streamsHow not to find seed money for a risky entrepreneurial ventureThe savvy financial moves Nik made to avoid the middle-class trapWhat the average “day in the life” of an early retiree looks likeWhy you need a strong community around you once you retireAnd 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 ChannelEveryday Money Heroes PodcastJoin a ChooseFI GroupGrab the Book, “Set for Life”Sign Up for the BiggerPockets Money NewsletterFind an Investor-Friendly Agent in Your AreaBuying at the Peak, Surviving a Crash, and STILL Being Able to Quit at 38Connect with Carl(00:00) Intro(01:22) Growing His “Empire”(08:58) Losing $150K!(12:05) Rebuilding His Wealth(16:48) Life After FIRE (24:20) Nik’s Investment Portfolio(28:34) Connect with Nik!Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-618Interested 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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“What did the council decide on item 42?” — answered with the speaker and the moment.

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