You can attack financial independence from one of two angles. You can create a strict timeline for achieving FIRE, or you can calculate your FIRE number and take your time with it. Which approach works best, and should you ever move the goalposts? Stay tuned to find out!Welcome back to the BiggerPockets Money podcast! Today, Scott and Mindy are reflecting on their journeys to financial freedom—how they started, set realistic objectives, and allowed those objectives to evolve. They’ll also share about the major “events” that propelled them toward their goals, the big lifestyle changes they have made since reaching financial independence, and the ONE thing they wish they had done differently!Whether you’re starting from zero or already on your way to FIRE, there are some personal finance fundamentals you’ve got to master: lowering your expenses and increasing your income. This combination will allow you to save more money, multiply your investments, and accelerate your FI timeline. But that’s not all. You’ll also hear about the job “trap” that keeps so many people from reaching FIRE, and why time (NOT money) is the resource we’re all actually chasing! In This Episode We CoverThe crucial figure you need to pin down before setting your FI timelineWhy time, not money, is the resource every FIRE-focused person really wantsWhen to move the goalposts on your quest for financial independenceThe job “trap” that holds you back from FI (and how to get out of it!)The two-pronged strategy that will accelerate your path to early retirementSpending less and earning more (so that you have more money to invest)Scott and Mindy’s number one “regret” from their aggressive pursuit of FIAnd 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 GroupBuy Scott’s Book “Set for Life”Find an Investor-Friendly Agent in Your AreaBiggerPockets Money – Episode 563: Why Aren’t More “Normal” People Achieving FIRE?(00:00) Intro(00:49) The FI Timeline(06:59) Lifestyle Changes After FI(10:25) Getting Your Spending in Check (17:14) Low Expenses + High Income(24:40) Escaping the Job “Trap”(31:04) Creating Milestones(37:50) Share Your Journey with Us!Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-576Interested 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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