Retire at 50? The Midlife Makeover That Could Catapult You to FIRE

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Episode #581 Support Today’s Show Sponsor, Connect Invest, the Alternative Way to Earn Passive Income Through Real Estate: https://www.biggerpockets.com/connectinvest Episode Show Notes: https://www.biggerpockets.com/podcasts/money?utm_source=youtube&utm_medium=description&utm_campaign=none Join BiggerPockets for FREE 👇 https://www.biggerpockets.com/signup?utm_source=owned_media Buy Scott’s Book, “Set for Life”: https://store.biggerpockets.com/products/set-for-life-revised-edition?utm_source=owned_media Find Investor-Friendly Lenders: http://biggerpockets.com/findlenders FIRE by 50: How to Have FUN on Your Journey Toward Early Retirement: https://www.biggerpockets.com/blog/money-446?utm_source=youtube&utm_medium=description&utm_campaign=none Connect with Scott and Mindy: 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 Could a few years of aggressive saving put you in the fast lane for financial independence? Is the grind even worth it? Today’s guest was well on his way to a comfy retirement but had never thought about retiring early. Then he discovered the FIRE movement, and with just four years of all-out hustle, he was able to retire at fifty! Welcome back to the “BiggerPockets Money” podcast! In 2020, Eric Reinholdt experienced a financial “awakening” that set him on a death march to FI and early retirement. For four years, he minimized his spending, maximized his savings, and threw every extra dollar at his investments. Today, he’s “chubby FI,” has a paid-off house, and is recently “retired”— working just ten hours per week on his own business while preparing to travel the world in 2025! But was the glamorous destination worth the grueling journey? Should Eric have started earlier or slowed down to reach his FI number? Tune in to hear about the major lifestyle changes he and his wife made to accelerate retirement, the different levers he pulled to grow his nest egg, and the steps you might need to take if you want to replicate his success! 00:00 Intro 01:25 Discovering FIRE 05:01 Major Lifestyle Changes 14:15 High Income + Low Expenses 22:53 “Retired” at Age 50 27:08 Eric’s Investment Portfolio 33:35 Life in Retirement 37:14 Connect with Eric! 38:06 A “Cheat Code” for Wealth!