Everyone wants to become “work-optional” at some point. Having enough money in investments and the bank would allow you to choose the job you love most, whether that’s running your own business, working part-time, or today’s guest, Travis’ dream, becoming a mountain biking guide. With a solid salary, dual income, and no plans for kids, he and his wife are on the fast track to FIRE, but can they get there by his goal of forty years old?
Travis’ wife may have an option to get a significant salary bump, allowing them to travel the country while she works, and Travis stays making money from his computer. But, even this may not be enough to get them to the “work optional by forty” goal they had set out for themselves. Scott and Mindy believe they need a financial “oomph” to get them over the edge, but what’s the next best move?
Should he stop his retirement account contributions to have more cash to invest for early retirement? Should he perform a live-in flip to make more money on the side while working his job? Would a side hustle or part-time job bridge the investing gap between where they are and where they need to be? If you’re stuck feeling like you can’t get to FI fast enough, this episode is for YOU!
Mindy:
Today’s Finance Friday guest is looking to hit financial independence in seven years at the age of 40, but could his timeline be fast tracked to retire even earlier with some slight changes to his investment strategy? Let’s see what’s possible today. Before we get into Travis’s Finances, we want to thank our sponsor. This episode is brought to you by Connect Invest Real Estate Investing simplified and within your reach. Now back to the show. Hello, hello, hello and welcome to the BiggerPockets Money podcast. My name is Mindy Jensen and with me as always is my blueberry loving co-host Scott Trench.
Scott:
Mindy, I don’t know how you always produce such great intros
Mindy:
Here.
Scott:
BiggerPockets has a goal of creating 1…