Think it’s too late for early retirement? Do you feel like just because you’re in your late thirties, forties, or fifties, FIRE doesn’t make sense for you? Well, think again because today’s guest defied the odds by retiring over fifteen years early, all while raising her daughter on her own and without a six-figure salary to sail her swiftly to a million-dollar net worth. Plus, she did all of it with no investing experience. If Jackie Cummings Koski can do it, so can you!
Jackie grew up in a single-parent household. Her father worked hard to support her and her five siblings. This instilled a strong work ethic in Jackie and made her realize that running towards hard things, not away from them, was the true path to success. She figured out college on her own and, shortly after, landed a corporate job that took her far away from the small town she grew up in. She got married and had her daughter, but then everything changed.
Jackie was getting divorced, forcing her to rely on herself fully for her financial future. In true Jackie fashion, she took this as a challenge and began educating herself as best as she could. Through smart saving, spending, and life-changing investing decisions, Jackie built her wealth in record time, reaching financial independence just ten years after finding the FIRE movement—all without any advantages!
In This Episode We Cover
How to reach financial independence without a high salary, inheritance, or advantages
Stock investing 101 and how intentional investing can explode your net worth
Why you must max out THESE investment accounts to be richer in retirement
How Jackie spends just $40,000 per year owning her own home and raising her daughter
Why you DON’T have to follow all the traditional FIRE rules to retire early
And So Much More!
Links from the Show
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Finance Review Guest Onboarding
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Scott on BiggePockets
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Podcast Talent Search!
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Money Podcast 154 - Bill Bengen (The Inventor of the 4% Rule) Talks Retirement, Past Crashes, and How You Can Withdraw Even More
Email Mindy for the Full 4% Rule Article!
Money Podcast 344 - Rethink Social Security: Myths, Benefits, and Clearing Up Misconceptions
Resources Mentioned in This Episode:
Better Investing
Root of Good
Mr. Money Mustache
Mad Fientist
1500 Days
00:00 Intro
01:14 FIRE at 49!
02:50 Making Money in Retirement
06:11 Early Years, College, and Getting Divorced
11:21 Working Her Way Through College
15:06 Getting Hired After College
15:50 Starting to Learn About Stocks
20:02 Finding the FIRE Movement
26:54 Spending and Saving
36:01 Jackie's Podcast and New Book!
38:20 Connect with Jackie!
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-527
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330: The Ultimate Teen Money Hack for Parents
329: From Extreme Poverty to DIY Wealth and 2 Full-Time Incomes w/The She Wolfe of Wall Street
328: The Best Alternative Investment No One Knows About w/Alex Breshears and Beth Johnson
327: Why the Stock Market Should NOT Scare You (Even As It Crashes) w/Brian Feroldi
326: Finance Friday: Still Feeling "Money Anxious" After Hitting FI
325: How to Buy Yourself a 6-Figure Income Stream
324: Finance Friday: Why Even Millionaires Still Have to Budget
323: Coast FI: The Calculated Way to Retire Early WITHOUT Giving Up What You Love w/Jessica from The Fioneers
322: Finance Friday: Living Paycheck-to-Paycheck with 9 Rental Properties
321: From Spending Six-Figures a Year to Saving 80% of His Income
320: Finance Friday: How to Invest When the 20-Year Grind Pays Off
319: The “Deathbed Toolkit” That Makes Building Wealth Much More Enjoyable
318: Finance Friday: The Median Earner’s Guide to Fast-Tracking FI
317: Early Retirement by 30 with $20K/Month in (Actually) Passive Income
316: Spending Categories to Cut During a Downturn | Mindy & Carl’s Budget Review
315: From 400 Credit Score to Making $17,000/Month in Passive Income
314: Finance Friday: How to Get to Early Retirement Even Faster
313: The “Perfect” Investment Portfolio for Early Retirement w/Ask The Money Coach
312: Buy Now, Pay Later: Consumer Convenience or Predatory Pricing Scheme?
311: How to Create Financial Security (From Scratch!) and Become “Set for Life”
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