563: Why Aren’t More “Normal” People Achieving FIRE?

BiggerPockets Money Podcast

BiggerPockets

Investing, Education, Business

4.6 • 2.9K Ratings

🗓️ 13 September 2024

⏱️ 32 minutes

🔗️ Recording | iTunes | RSS

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Summary

Has BiggerPockets Money become too focused on FIRE (financial independence, retire early)? For the past seven years, we’ve been bringing you shows highlighting the journeys of those who left their jobs to enjoy early retirement.Some of these guests did it faster than others by making more money, increasing their frugality, investing smart, or building a business. But the question many of our listeners are wondering is: Is this even possible for the average, “normal” person? Today, we’re taking a hard look at the show’s future and asking ourselves whether or not focusing on FIRE is still the right path forward. Should we shift topics to help the everyday American get a financial leg up, or is continuing the FIRE-focused path the best way to help YOU, our listener? This isn’t a rhetorical question; we genuinely want to know! After this episode, join the BiggerPockets Money Facebook group thread, and let us know which stories YOU want to hear the most! In This Episode We Cover Why the BiggerPockets Money Podcast rarely brings on “normal” guests achieving FIRE Can anyone achieve FIRE, and if so, how do they get there? The four financial levers you can pull to put you on the path to financial freedom The advanced financial tactics BiggerPockets Money teaches you to grow your wealth What to do if you feel like you can’t make any progress towards early retirement 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 BiggerPockets 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 BiggerPockets Money Group BiggerPockets Money Facebook Group BiggerPockets Money 63 - Financial Freedom With 5 Kids IS Possible with Jordan Klint BiggerPockets Money 130 - Refusing to Retire at 65: How a Couple in Their 40s Managed to Hit FI in 12 Years w/Susan and Norm Episode 560 - Dude ACTUALLY Withdraws From His 401(k) and Retires at 47 w/Eric Cooper Get on the Path to Financial Independence with “Set for Life” See Mindy and Scott at BPCON2024 in Cancun! What Is the FIRE Movement? 00:00 Intro 02:16 Talking Too Much About FIRE? 08:59 FIRE Isn't For Everyone 11:53 What is FIRE? 16:27 Can You Hit FIRE Being "Normal"? 22:42 Who Should Listen to BP Money? Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-563 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	Scott and I have been getting very thoughtful, very helpful feedback from Bigger Pockets Money listeners.
0:06.7	We've thought of BP Money as a show for those aggressively pursuing early financial independence.
0:13.2	True fire.
0:14.8	But some of you are saying that you want normal personal finance.
0:19.2	Today, Scott and I are going to have a heart to heart about fire.
0:22.8	Whether this show should open up to more mainstream America
0:26.8	or stay true to the fire roots we've grown from.
0:30.2	Hello, hello, hello, and welcome to the BiggerPockets Money podcast podcast my name is Mindy Jensen and with me as always is my fellow
0:36.7	Firepath journey or co-host Scott Trich. You know Mindy it's just been I've been really getting tired of trying to figure out good puns in response to these
0:44.9	intros. Then I got excited about it and now I'm retired. All right, BiggerPockets has a goal of creating
0:52.0	one million millionaires.
0:53.2	You are in the right place if you want to get your financial house in order,
0:55.3	because we truly believe that financial freedom is attainable for everyone,
0:59.1	no matter when or where you're starting.
1:01.4	But, as we'll talk about today, there are a few big strings attached.
1:07.0	Today we're going to discuss why Mindy and I started Bigger Pocket's Money
1:11.8	four, five, six years ago now.
1:14.1	Why, as we've grown, we've seen more and more interest
1:17.5	from folks who are looking for normal personal finance.
1:21.3	And whether we're going to pivot to that broader personal finance category or
1:25.1	whether we're going to stay the course as a show about financial independence and
1:28.8	early retirement. Before we get into the show we want to give a big shout out to our show sponsor. This segment is sponsored by BAM Capital,
	...

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