Losing $150K, Starting Over, and STILL Retiring Early | Life After FIRE
Description
Think you’ve blown your chances of achieving FIRE? You haven’t! Just ask Nik Johnson, who spent years growing his nest egg, only to have it completely wiped out with one bad financial decision. Despite losing everything, he managed to rebuild it from ground zero and still retire early!
Welcome to another episode of “Life After FIRE”! Nik and his wife had done everything right. They practiced frugality, saved aggressively, and invested at every opportunity. But everything was turned on its head when Nik decided to empty his retirement accounts and open a car dealership. Within just one year, Nik’s company had gone belly up, and as a result, all the money he had worked so hard to save was gone. It seemed that he had missed his one shot at early retirement, but rather than giving up on that dream, he started over. If he could do it once, he could do it again!
So, Nik found a W2 job, picked up a second job to fast-track his savings, and started throwing all his money at retirement accounts and real estate investments, and now, he and his wife are recently retired! Stick around as Nik shows you how to avoid the middle-class trap, what life looks like after FIRE, and the importance of community once you retire!
In This Episode We Cover
How Nik built, lost, and rebuilt his investments and still achieved FIRE
Supercharging your investments by creating extra income streams
How not to find seed money for a risky entrepreneurial venture
The savvy financial moves Nik made to avoid the middle-class trap
What the average “day in the life” of an early retiree looks like
Why you need a strong community around you once you retire
And So Much More!
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Buying at the Peak, Surviving a Crash, and STILL Being Able to Quit at 38
(00:00 ) Intro
(01:22 ) Growing His “Empire”
(08:58 ) Losing $150K!
(12:05 ) Rebuilding His Wealth
(16:48 ) Life After FIRE
(24:20 ) Nik’s Investment Portfolio
(28:34 ) Connect with Nik!
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-618
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