Episode #629

Episode Show Notes:
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Is it possible to reach FIRE by 45, even on a teacher’s salary or an average income? Today’s guest is proving that, yes, you can retire early, regardless of your paycheck. It may be a little harder than it is for high-income earners, but with frugality, discipline, and smart investments, regular people can achieve FIRE!

Welcome back to the “BiggerPockets Money” podcast! At just 31 years old, Kat has been diligently maxing out her retirement accounts, saving a ton of cash, and making enormous strides towards retiring by age 45. Most would say this is a long shot for someone with a teacher’s salary, but thanks to a high savings rate and savvy financial decisions, Kat is right on track to reach her lofty goal. The real question is, should she?

Kat will need to grind for the next 15 years to retire on her original timeline. Is it worth taking an extra couple of years to reach financial independence if it prevents burnout? In this episode, Mindy and Amberly will break down Kat’s options, help her avoid the dreaded middle-class trap, and give her a roadmap for achieving FIRE quickly while also enjoying the journey!


00:00 Intro
01:28 Kat’s Money Journey
06:15 Money Snapshot
10:11 FIRE by 45 (Teacher’s Salary!)
20:24 Avoiding the Middle-Class Trap
31:30 When to SELL Stocks
35:09 Best Ways to Deploy Cash
38:33 (NOT) Increasing Her Income?
45:36 Enjoy the Journey!