Episode #446

The FIRE community is notorious for chasing early retirement at all costs. Many search for creative ways to earn more money and spend less of it, only to end up hating the journey. If you’ve ever felt burnt out or discouraged on the road to FIRE, you’re in for a real treat with today’s episode!

Welcome back to the “BiggerPockets Money” podcast! Today, we’re joined by Mark Trautman from “Mark’s Money Mind.” Early on, Mark decided that he was going to live life on his own terms. So, he and his wife worked their way out of debt and adopted the motto, “Make some, save and invest, and live on the rest.” After maximizing their 401(k) contributions, investing their money in other retirement accounts, and diligently saving each month, Mark and his wife were able to retire by the time he reached age fifty.

We wish Mark’s story ended there. A few years later, however, his life was turned upside down after the death of his wife. While grieving the loss, Mark needed to adjust how he used his nest egg going forward. By implementing smart Roth conversion strategies and opening a “fun bucket” account, Mark was able to not only minimize his tax liability but also find new ways to enjoy retirement. Stick around for a true masterclass on how to relish the journey to FIRE!

Show Notes at:
https://www.biggerpockets.com/blog/money-446?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
~~~~
Books Mentioned in This Episode:
“The Millionaire Next Door”: https://store.biggerpockets.com/products/the-millionaire-next-door?utm_source=youtube&utm_medium=description&utm_campaign=none
“The Wealthy Barber”: https://www.amazon.com/Wealthy-Barber-Updated-3rd-Commonsense/dp/0761513116
“Taking Stock”: https://www.amazon.com/Taking-Stock-Financial-Independence-Regret-Free/dp/1646043545
“Die With Zero”: https://www.amazon.com/Die-Zero-Getting-Your-Money/dp/0358567092
~~~~
Backdoor Roths, Mega Backdoor Roths, and Roth Conversion Ladders: https://www.biggerpockets.com/blog/biggerpockets-money-podcast-161-mad-fientist?utm_source=youtube&utm_medium=description&utm_campaign=none
~~~~
Take Mark’s FREE 7-Week Financial Literacy Course:
https://marksmoneymind.com/financial-literacy-course/
~~~~
Connect with Mark:
Blog: https://marksmoneymind.com
Facebook: https://www.facebook.com/mark.trautman.3388/
Twitter: @marksmoneymind or https://twitter.com/MarksMoneyMind
~~~~
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

00:54 Money Moment

02:26 Mark’s Money Story

11:54 The Journey to FIRE

21:21 Finding Balance

31:06 Accessing Your Post-Retirement Portfolio

42:16 What’s Next?

49:11 The FI-Focused Family

53:22 Connect with Mark!

54:58 Follow in Mark's Footsteps!