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BiggerPockets Money Podcast

504: Early Retirement at 36 by Doing What EVERY Entrepreneur Should

BiggerPockets Money Podcast

BiggerPockets

Investing, Education, Business

4.62.9K Ratings

🗓️ 20 February 2024

⏱️ 43 minutes

🧾️ Download transcript

Summary

If you want to reach early retirement, especially in your thirties, you’ll need to take some big risks. Today’s guest turned down what would have been a dream salary to many people, choosing to work for himself while making close to a third as much as a job would have paid him. He put in the time and sweat, making just enough money to survive for over a decade, living as frugally as he could so he could roll everything back into his business. Then, overnight, he became a multimillionaire. And guess what? You can, too. One day, at the age of thirty-four, Jeremy Schneider found himself $2,000,000 richer than he had been the day before. He had successfully sold a company he’d been building for a decade, making him, his family, and his employees wealthy in the process. Then, he did what every burnt-out founder does: travel the world, play volleyball and video games, and get some much-needed rest. But soon after, he decided to return to work, focusing on something much more important. In this episode, Jeremy gives a masterclass on the right way to build your business, how to sell it for millions more than you were originally offered, and exactly what you should do with the money afterward to STAY financially free. In This Episode We Cover How to reach early retirement in your thirties by building (and selling) a business When it makes sense to take a paycheck vs. bet on yourself How companies are bought and sold and the negotiations behind closed doors The MASSIVE amount of taxes Jeremy had to pay after selling his business What Jeremy did with his $2,000,000 payday that set him up for life And So Much More! Links from the Show BiggerPockets Money Facebook Group Network with Other Investors on The Path to FIRE Through the BiggerPockets Forums Finance Review Guest Onboarding Join BiggerPockets for FREE Mindy on BiggerPockets Scott on BiggePockets Listen to All Your Favorite BiggerPockets Podcasts in One Place Apply to Be a Guest on The Money Show Podcast Talent Search! Money Moment Find an Investor-Friendly Agent in Your Area Find Investor-Friendly Lenders Past Episodes Mentioned in Today’s Show: Michael Kitces A Purple Mom Life Insurance (Joe Saul-Sehy) Whole Life Insurance (The White Coat Investor) Lump Sum vs Dollar Cost Average Calculator Grab the Book “Die with Zero” Click here to check the full show notes: https://www.biggerpockets.com/blog/money-504 Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Email us: [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

Hello, hello, hello, and welcome to the BiggerPockets Money Podcast. My name is Mindy Jensen, and with me, as always, is my

0:07.0

wearing his CEO hat today, co-host Scott Trench.

0:10.5

Thanks Mindy, great to be here and I always appreciate you bringing such a positive attitude.

0:14.8

We're here to make financial independence less scary.

0:16.7

Less just for somebody else to introduce you to every money story because we truly believe

0:20.9

financial freedom is attainable for everyone, no matter when or where you're starting.

0:24.8

Scott on today's episode we are speaking with Jeremy Schneider from Personal Finance Club

0:30.0

about how he was able to retire early at the age of 36.

0:34.5

Yeah, we usually talk to W-2 income earners, and the traditional story is save up, spend less,

0:40.4

spend less, earn more, invest, create, and gradually move toward financial independence.

0:44.7

But Jeremy's story of entrepreneurship is a story of attaining entrepreneurship all at once in one

0:50.2

big moment and very different, very very fun very interesting look into the

0:54.8

different dynamics of it and I hope that you're you know as you listen to this

0:58.0

episode you're gonna think about the parallel journey that happens from a W2 path

1:01.7

versus a entrepreneurial one.

1:04.7

So stay listening because we're going to dive deep into the sale of his company, the emotive experience

1:08.7

around it, and peel back the onion and peel back the curtain into the process behind selling a business

1:14.4

after a 10-year entrepreneur of their journey.

1:16.5

Today we are talking with Jeremy Schneider from Personal Finance Club.

1:19.6

Jeremy, welcome to the BiggerPockets Money Podcast.

1:22.0

I am so excited to talk to you today.

1:24.0

Thank you.

...

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