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
BiggerPockets Money Facebook Group
Network with Other Investors on The Path to FIRE Through the BiggerPockets Forums
Finance Review Guest Onboarding
Join BiggerPockets for FREE
Mindy on BiggerPockets
Scott on BiggePockets
Listen to All Your Favorite BiggerPockets Podcasts in One Place
Apply to Be a Guest on The Money Show
Podcast Talent Search!
Find an Investor-Friendly Agent in Your Area
Find Investor-Friendly Lenders
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
Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com
Learn more about your ad choices. Visit megaphone.fm/adchoices
419: Finance Friday: Barely Breaking Even? Here’s How You Can STILL Invest
418: Replacing His Wife’s $100K Salary in Year ONE with THIS Online Side Hustle
417: Finance Friday: Why I Spent $100K+ on My Four-Legged Friend
416: Codie Sanchez: These “Boring Businesses” Will Make You Rich
415: Finance Friday: How to Achieve Your “Dream Life” Decades Before Retirement
414: Nicole Lapin's Money Hacks to Rehab Your Finances & Say Goodbye to Bad Debt
413: Finance Friday: How to Use Your Home to Retire YEARS Earlier
412: The Beginner's Blueprint to Buying $0 Down Real Estate w/ “Creative Finance”
411: How to “Quiet Quit” Your 9-5 Job and Become a Full-Time Boss
410: From Homeless at 14 to Debt-Free Homeowner AFTER Prison Time
409: How to Use Your First Home to Fast-Track Wealth
408: Finance Friday: Why Retiring Early Isn’t As Simple As You Think
407: 8 Rentals in 8 Years and Unlocking MASSIVE Tax Breaks with One Career Move
406: Finance Friday: Why FORCING Your Way to FIRE Isn’t The Way
405: Slash Your Food Budget by $150+ Per Week with EASY, Healthy, and Tasty Meals
404: How to Build Wealth in Three Simple Steps
403: Finance Friday: Stay at Home with Kids or Work to Hit FI Faster?
402: Tax Day Q&A: Live CPAs Help YOU Owe Less To the IRS
401: The Post-Passing Plan: 3 Steps to Protect Your Family’s Financial Future
400: Mindy and Scott’s Money Stories and Why They WON’T Retire Early
Create your
podcast in
minutes
It is Free
The emPOWERed Half Hour
BiggerPockets Real Estate Podcast
Real Estate Rookie
BiggerPockets Business Podcast
BiggerPockets Daily
The InvestHER Podcast