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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Scott on BiggePockets
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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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551: Retired Early at 44 by Buying These "Boring" Investments
550: How My Home Makes Me an Extra $1,400/Month (EVEN In an Expensive Market)
549: Is FIRE Dead? No, But Here’s Why Most WON’T Achieve It
548: 2 Money Moves We’re Making TODAY to Prepare for a Potential Recession
547: Using "ADUs" to Go From Firefighter to FIRE by His Late 30s
546: From a Negative Net Worth to FI in Just 5 Years by Living Like a Stoic
545: Fat FI by 23: Building a 7-Figure Income & 8-Figure Portfolio in 3 Years
544: 80-Hour Workweeks to Lean FIRE in 8 Years through Real Estate
543: Finance Friday: How the “Middle-Class Trap” Stops Your Early Retirement
542: DIY Finance Friday: How to Create a Customized Path to Financial Independence
541: Finance Friday: I've Got $150K Student Debt at 6.95%, Should I Invest?
540: Renting vs. Buying a Home in 2024 and Do You Have Enough in Your 401(k)?
539: Finance Friday: Can I Comfortably Retire by 50 with My Current Portfolio?
538: Late Start, Early Retirement: The Huge Advantages of Investing Later in Life
537: Late Start, Early Retirement: A Step-by-Step Guide to Get On Track to FI
536: My Property Manager Robbed and Ghosted Me ($40K Stolen!)
535: Achieving FIRE in Her 40s By Taking "Calculated" Risks
534: Coast FI at 24 and a $99K Net Worth Thanks to a Few Years of Pure Hustle
533: What Even We Didn’t Know About “Protecting” Our Wealth
532: Building Generational Wealth? Don’t Lose It with This ONE Critical Mistake
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