Episode #422

Is early retirement possible if you’re dead broke in your 50s? What about regular retirement when you have a negative net worth later in life? If you feel it’s too late to retire, today’s guests are here to prove you wrong. After waking up at fifty with zero dollars to her name, Becky Heptig faced a dilemma—make a change or work for the rest of her days. So Becky and her husband, almost overnight, flipped their lifestyle around and started saving and investing everything they could. Now, she’s retired as a millionaire with complete financial flexibility.

Bill Yount wasn’t just worth zero dollars; he had a negative net worth at fifty. Even with a high-paying job, new cars, and a nice house, Bill was miles away from retirement but took the same path as Becky as he aggressively saved and started planning for retirement. Just a few years out from retirement, Bill has millions stashed away, a luxury lifestyle that his investments support, and a boat-sized amount of cash in his bank account.

If you think it’s TOO late to retire, you’re wrong. Becky and Bill prove in today’s episode that even if you’re starting late, with NOTHING to your name, retirement is only a decade (or a few years) away. You’ll hear EXACTLY how they retired early when starting from zero, the “wake-up call” late starters MUST have, and what you can do TODAY to get your retirement planning on track!

Show Notes at:
https://www.biggerpockets.com/blog/money-422?utm_source=youtube&utm_medium=description&utm_campaign=none
~~~~
Join BiggerPockets for FREE 👇
https://www.biggerpockets.com/signup?utm_source=owned_media
~~~~
Join the BiggerPockets Money Facebook Group:
https://www.facebook.com/groups/bpmoney
~~~~
Find an Investor-Friendly Agent in Your Area:
http://biggerpockets.com/agentmatch
~~~~
Find Investor-Friendly Lenders:
http://biggerpockets.com/lendermatch
~~~~
Got a Money Tip to Share? Send Us an Email:
moneymoment@biggerpockets.com
~~~~
Grab Scott’s Book, “Set for Life”:
https://store.biggerpockets.com/products/set-for-life-revised-edition?utm_source=owned_media
~~~~
Rethink Social Security: Myths, Benefits, and Clearing Up Misconceptions:
https://www.biggerpockets.com/blog/money-344?utm_source=youtube&utm_medium=description&utm_campaign=none
~~~~
Connect with Becky and Bill:
Podcast: https://catchinguptofi.com/
Facebook Group: https://www.facebook.com/groups/693566492381832/
~~~~
Want to Be a Guest on the BiggerPockets Money Show? Apply Here:
Guests: https://www.biggerpockets.com/guest?utm_source=youtube&utm_medium=description&utm_campaign=none
Finance Friday: https://www.biggerpockets.com/financereview?utm_source=youtube&utm_medium=description&utm_campaign=none
~~~~
Connect with Scott and Mindy on BiggerPockets:
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

00:00 Intro

01:30 Money Moment

02:14 Worth $0 at 50 Years Old

12:56 Retired Thanks to Ramsey!

17:50 A Negative Net Worth

23:11 Millionaire After MANY Mistakes

30:46 The Late Starter "Wake Up Call"

39:04 Is It Ever TOO Late to Retire?

42:56 What to Do NOW

52:01 Catch Up to FI!

53:32 You CAN Retire