Think you need a six-figure salary to retire early? Think again. Middle school teacher Andrew Luman is achieving financial independence and retiring at 50—all on a teacher's salary. In this episode of the BiggerPockets Money podcast, hosts Mindy Jensen and Scott Trench unpack Andrew's complete FI...
Think you need a six-figure salary to retire early? Think again. Middle school teacher Andrew Luman is achieving financial independence and retiring at 50—all on a teacher's salary. In this episode of the BiggerPockets Money podcast, hosts Mindy Jensen and Scott Trench unpack Andrew's complete FIRE strategy, proving that early retirement isn't reserved for high earners.
In this episode, you'll learn:
How Andrew discovered the FIRE movement and started his financial independence journey
Building wealth on $35,000 a year: Andrew's early budgeting strategies
The power of a high savings rate and how to achieve it on a modest income
House hacking explained: How Andrew used a multi-unit property to eliminate housing costs
Real estate investing for teachers and average income earners
Portfolio breakdown: Andrew's asset allocation and investment strategy for early retirement
The four-day work week advantage and how it accelerated his path to FIRE
Choosing time over money: lifestyle decisions that make early retirement possible
Side hustles for FIRE: Which ones are worth it
Cash management strategies for approaching financial independence
Approaching your FIRE number: What the final stretch looks like
And SO much more!
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