Episode #426

The Financial Independence, Retire Early movement (FIRE movement) is changing. More people are investing, making money, and working from anywhere in the world. Investing education and advice has become easier to access, and self-made millionaires have been created through simple frugality and smart spending. Compared to when the FIRE movement was born, now may be one of the best times in recent history to achieve financial independence. But there’s more than one path to choose from.

Happy Financial Independence Day! That’s right; we’re swapping hot dogs for home equity, fireworks for frugality, and a cold one for some cold hard cash because TODAY is a day to celebrate an accomplishment we all hope to achieve! In this special episode, Scott and Mindy fly solo, touching on the history of the FIRE movement, its most prominent figures, and lessons learned on the path to FI.

But that’s not all; tell your overspending Uncle to tune in as Scott and Mindy debate some of the most common complaints about the FIRE movement and prove that anyone, in almost any situation, can live life on their terms. So sit back, grab those chips you saved for tomorrow’s barbeque (no one will notice), and get your FIRE started!

Show Notes at:
https://www.biggerpockets.com/blog/money-426?utm_source=youtube&utm_medium=description&utm_campaign=none
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Books Mentioned in Today’s Episode:
Set for Life: https://store.biggerpockets.com/products/set-for-life-revised-edition?utm_source=owned_media
The House Hacking Strategy: https://store.biggerpockets.com/products/the-house-hacking-strategy?utm_source=owned_media
The Richest Man in Babylon: https://store.biggerpockets.com/products/richest-man-in-babylon-biggerpockets-edition?utm_source=youtube&utm_medium=description&utm_campaign=none
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Past Episodes Mentioned in Today’s Episode:
Bill Bengen (4% Rule): https://www.biggerpockets.com/blog/biggerpockets-money-podcast-153-bill-bengen?utm_source=youtube&utm_medium=description&utm_campaign=none
Jazmyn Gray: https://www.biggerpockets.com/blog/money-410?utm_source=youtube&utm_medium=description&utm_campaign=none
Jill Schlesinger: https://www.biggerpockets.com/blog/money-398?utm_source=youtube&utm_medium=description&utm_campaign=none
Mad Fientist (Upcoming!): https://www.biggerpockets.com/blog/money-428?utm_source=youtube&utm_medium=description&utm_campaign=none
Mr. Money Mustache: https://www.biggerpockets.com/blog/money-377?utm_source=youtube&utm_medium=description&utm_campaign=none
The Fioneers: https://www.biggerpockets.com/blog/money-323?utm_source=youtube&utm_medium=description&utm_campaign=none
The Frugalwoods: https://www.biggerpockets.com/blog/biggerpockets-money-podcast-10-designing-a-frugal-but-luxurious-fi-life-age-32-with-liz-thames?utm_source=youtube&utm_medium=description&utm_campaign=none
Vicki Robin: https://www.biggerpockets.com/blog/biggerpockets-money-podcast-98-vicki-robin?utm_source=youtube&utm_medium=description&utm_campaign=none
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Finance Friday: https://www.biggerpockets.com/financereview?utm_source=youtube&utm_medium=description&utm_campaign=none
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Connect with Scott and Mindy on BiggerPockets:
Scott: https://www.biggerpockets.com/users/scotttrench?utm_source=youtube&utm_medium=description&utm_campaign=none
Mindy: https://www.biggerpockets.com/users/mindyjensen?utm_source=youtube&utm_medium=description&utm_campaign=none

00:00 Intro

01:05 Money Moment

01:45 Kindling the FIRE Movement

07:39 Types of FI

12:26 The New Path to FI

17:27 From Frugal to FI

24:32 What You Might Be Wrong About