377: Mr. Money Mustache on Life After FI: The Truth About Retiring Early in Your 30s

BiggerPockets Money Podcast

Jan 23 2023 • 1 hr 17 mins

Mr. Money Mustache is the internet’s poster child for early retirement. At age thirty, Pete Adeney was able to leave a lucrative job as a software engineer to focus on building a financially free life. He brought the FIRE movement to the mainstream by teaching others online how simple spending skills could allow them to quit their corporate jobs, keep more money while working less, and live a life centered around passion, not a paycheck. His popular blog has garnered millions of visits, as early versions of himself flock to the financially-freeing wisdom so rarely talked about in average American society. Pete has been retired for nearly twenty years now, meaning he’s been FIRE more than double the amount of time he spent in the working world. So, how does he spend his days? What keeps him going? Does he still have enough money?And how can someone repeat his system? Scott and Mindy spend this episode asking the “life after FI” questions, so you can know exactly what you’re getting into when you retire early. Pete’s answers shed light on often untouched topics that most of the money community can’t answer. We’ll go deep into planning for financial independence, developing “spending skills” that can bring early retirement decades sooner, and the right way to quit your job and wean off work. Pete also shows what the day in the life of an early retiree looks like and how today’s stock market crash has affected his portfolio. Want to retire early? Strap in—we’ve got the man who brought FI to the masses on today’s show! In This Episode We Cover Pete’s repeatable plan for FI and the simple steps that can lead to financial freedom Quitting your 9-5 and why leaving work all at once could be a big mistake Why most early retirees never touch their nest egg (and why you probably won't either) Whether or not early retirement truly lives up to the hype The 2022 stock market crash and how it’s affected Pete’s portfolio and investing mentality Stocks vs. bonds and why someone who’s chasing early retirement should choose one over the other And So Much More! Links from the Show Find an Investor-Friendly Real Estate Agent BiggerPockets Money Facebook Group BiggerPockets Forums Finance Review Guest Onboarding Mindy's Twitter Scott's Instagram Listen to All Your Favorite BiggerPockets Podcasts in One Place Apply to Be a Guest on The Money Show Podcast Talent Search! Subscribe to The “On The Market” YouTube Channel Listen to The “On The Market” Podcast: Spotify, Apple Podcasts, BiggerPockets Check Out Mindy’s 2022 Live Spending Tracker and Budget Mr. Money Mustache The Surprising (Scientific) Truth Behind What Makes You Successful Multpl.com Cfiresim calculator Early Retirement Extreme Click here to check the full show notes: https://www.biggerpockets.com/blog/money-377 Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Check out our sponsor page! Learn more about your ad choices. Visit megaphone.fm/adchoices