436: How to Get Rich Slowly and Retire Earlier Than Most with a Modest Portfolio

BiggerPockets Money Podcast

BiggerPockets

Investing, Education, Business

4.6 • 2.9K Ratings

🗓️ 31 July 2023

⏱️ 57 minutes

🔗️ Recording | iTunes | RSS

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Summary

“Get rich slowly” is a concept that most people in the FIRE community can get behind. “Time off,” on the other hand, seems to go against the idea of grinding to financial independence now and waiting until later in life to enjoy the spoils. Today’s guest is bucking this trend—using his financial freedom to support a “retired” lifestyle that includes traveling the world, discovering new hobbies, and learning new skills! Welcome back to the BiggerPockets Money podcast! Today, we’re speaking with J.D. Roth, founder of the personal finance blog, Get Rich Slowly. Initially launched to document his quest out of debt, this popular blog helped J.D. fast-track his journey toward financial independence. He now considers himself “retired,” although the more risk-averse person might say it’s a little too soon. If you’ve ever considered taking some time away from work but fear you don’t have the nest egg to support it, this is the episode you need to hear! J.D. tackles a handful of issues that FI-focused individuals don’t always touch on—including the importance of mental health and using a “mini” retirement to decompress. He also talks about why he’s not worried about his modest portfolio and shares the three five-year plans you need to prepare for any curveball life might throw in your direction! In This Episode We Cover How to implement a “mini” retirement on your journey to FIRE Prioritizing your mental health in a fast-paced, work-first culture How to take time off from work without blowing your nest egg A day in the life of someone who is taking a year off from working Important tips for saving more money and retiring even earlier And So Much More! Links from the Show BiggerPockets Money Facebook Group BiggerPockets Forums Finance Review Guest Onboarding Join BiggerPockets for FREE Mindy on BiggerPockets Scott's Instagram Grab Scott’s Book, “Set for Life” Listen to All Your Favorite BiggerPockets Podcasts in One Place Apply to Be a Guest on The Money Show Podcast Talent Search! Listen to The Real Estate InvestHER Show Join The Real Estate InvestHER Community on Facebook Register for an Upcoming InvestHER Event Money Moment Finance Friday: How Sabbaticals Make You Happier, Healthier, and Wealthier Click here to check the full show notes: https://www.biggerpockets.com/blog/money-436 Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Email us: [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Welcome to the Big Apagot's Money Podcast, where we interview one of the OGs of the personal finance
0:06.2	blogging community JD Roth from getrichslowly.org and talk about life actor retirement.
0:13.2	Hello, hello, hello. My name is Mindy Jensen and with me as always is my getrichslowly cohosts
0:18.7	Scott Chunch. Thank you Mindy. Great to be here with my gotrich swiftly by investing in literal
0:24.9	rocket ships cohost Mindy Jensen. Scott and I are here to make financial independence
0:29.8	less scary, less just for somebody else to introduce you to every money story because we truly
0:35.0	believe financial freedom is attainable for everyone no matter when or where you're starting.
0:40.0	That's right. Whether you want to retire early and travel the world, go on to make big-time
0:43.1	investments and assets like real estate, start your own business, or just kind of understand
0:47.6	what a day in the life of a financially independent person looks like. We'll help you reach
0:52.4	your financial goals and get money out of the way so you can launch yourself toward those dreams.
0:56.2	Scott, we have a new segment of the show. It's called the money moment where we share a money hack tip
1:01.2	or trick to help you on your financial journey. And today's money moment is do you have a habit of
1:06.6	spending too much online? Try using the three-day rule. Once you add an item to your cart,
1:12.6	wait three days before purchasing. Not only does this rule help curb impulse spending,
1:18.1	but sometimes brands will email you coupons if you leave items sitting in your cart.
1:23.9	Do you have a money tip for us? Email money moment at biggerpockets.com. Now, you'll notice I didn't
1:30.3	take that tip today at the very end of the show. You will hear that JD shares an amazing book
1:37.2	recommendation. And I went and bought it while we were talking. I was so impressed with his
1:43.3	review of the book and I cannot wait to read that. However, otherwise, that's a great tip.
1:48.7	Scott, I am super excited to bring JD Roth to the show. I can't believe it took us 432 episodes
1:54.1	to get him on. What is wrong with us? I don't know. This JD has just really kind of been a pioneer
	...

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