535: Achieving FIRE in Her 40s By Taking "Calculated" Risks

BiggerPockets Money Podcast

BiggerPockets

Investing, Education, Business

4.6 • 2.9K Ratings

🗓️ 7 June 2024

⏱️ 55 minutes

🔗️ Recording | iTunes | RSS

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Summary

What would it take for you to achieve financial freedom? Now, think about what it would take for you to achieve it for your family. Many of us have parents we’ve seen work day in and day out, providing for us when it meant putting their dreams on the back burner. But what if you could repay your parents for all they’ve done for you, helping them retire and ensuring they can truly live the life they love without worrying about money? That’s exactly what today’s guest did for her mother and herself. After her parents divorced when she was a teenager, Delyanne Barros began what seemed like a two-decade-long non-stop grind. Fearing what would happen to not only herself but her family if she didn’t provide, Delyanne chose to go to law school to not only help those in need but also bring home a steady paycheck that would support her and her mother. After realizing that the nine-to-five grind wasn’t what she thought, Delyanne began searching for a way to get into a better financial position. As a result, she found the debt-free and the FIRE movements. Now, only in her early forties, she’s already started a business that brings in millions, retired her mother, achieved financial freedom, and did it all just within six years of finding the FIRE movement. Her biggest tip for success: Take a calculated risk and bet on yourself! If you want to find FIRE like Delyanne did, don’t skip this one! In This Episode We Cover When it’s worth it to quit your “dream job” to start your own business and bet on yourself Supporting your family and retiring your parents BEFORE they’re sixty-five years old Why even lawyer salaries often can’t afford you the life you want to live Paying off huge student loan debt and why you SHOULD invest before you’re debt-free The importance of investing EVEN when the market is dropping fast and you’re feeling fear Why you DON’T have to be self-employed to achieve FIRE (but you DO need to take risks) 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! Find an Investor-Friendly Agent in Your Area Find Investor-Friendly Lenders Property Manager Finder What Is the FIRE Movement? How to Calculate the Risks Before Investing The Mad Fientist on Early Retirement in Your 40s and 4% Rule Updates From Extreme Poverty to DIY Wealth and 2 Full-Time Incomes w/The She Wolfe of Wall Street 00:00 Intro 01:10 Supporting Her Family as a Teen 07:34 Why Law School? 14:15 Finding FIRE and Switching Gears 21:50 Watching the Market Crash 27:37 Quitting Her High-Paid Job 35:35 Can W2 Workers Achieve FIRE? 39:19 Retiring Her Mom 41:44 Best FIRE Advice 42:54 Connect with Delyanne! 43:24 Take a Risk! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-535 Interested 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/adchoices

Transcript

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0:00.0	Eight years and a hunger can be all it takes to change an entire family's financial future.
0:05.3	Hello, hello, hello, and welcome to the BiggerPockets Money Podcast.
0:08.3	My name is Mindy Jensen and with me today is the fantabulous Amanda wolf.
0:13.5	Amanda, thanks for joining me.
0:14.8	Thanks so much, glad to be here.
0:16.8	Bigger Pocket's money is here to make financial independence less scary.
0:20.4	To introduce you to every money story because we truly believe financial freedom is attainable for everyone no matter when or where you're starting and today's guest is going to absolutely prove me right which is my favorite kind of guest.
0:33.6	Today we are speaking with Delianne the money coach, who also happens to be a good friend of mine in real life.
0:39.8	Delian is so amazing, she is killing it in the financial education space, but it wasn't so long ago that she was also in a ton of debt and hated her quote-unquote dream job.
0:50.0	And she is here to share her journey towards wealth for herself and her mother and is so incredibly inspiring.
0:56.2	Oh, well, what an intro. Thank you for that.
0:59.6	Deliyanne, welcome to the BiggerPockets Money Podcast. I am so excited to talk to you today.
1:04.7	Thank you. I am so excited to be here. I'm a huge huge fan of the show so this is a very big circle
1:09.3	moment for me.
1:10.3	Wuh! Well let's jump into it. Delianne you are a product of hard work mixed with money
1:16.4	management. I want to hear all about your money story so where does your
1:20.8	journey with money begin? Oh gosh, okay, so I think, you know, like a lot of us, it starts with what we experience growing up and we make a decision sometimes of am I going to follow the same steps that my parents went through or do I want to go in the completely opposite direction?
1:40.0	And my parents did the best they could with the little that we had. We were immigrants from Brazil. We came here with very little. We came to the US with very little. And they really emphasized education and
2:05.8	Having good credit those were like the two money lessons get an education have good credit and you know what I'm grateful for those two things because I did stick to that and it did help me a lot but that was the extent right of money education but somehow I after my parents divorced and seeing my mother struggle I knew that I didn't
2:11.2	want to end up in that situation I never wanted to be so dependent on somebody that I didn't want to end up in that situation. I never wanted to be so dependent on
2:14.0	somebody that I was left to start all over again and really really struggle.
2:20.0	And so I became an avid like saver and I became very frugal and honestly like sometimes I say you know
	...

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