Proof You Don't Need a High Salary for FIRE (Teacher Retires at 50)

Think you need a six-figure salary to retire early? Think again. Middle school teacher Andrew Luman is achieving financial independence and retiring at 50—all on a teacher's salary. In this episode of the BiggerPockets Money podcast, hosts Mindy Jensen and Scott Trench unpack Andrew's complete FIRE strategy , proving that early retirement isn't reserved for high earners. In this episode, you'll learn: How Andrew discovered the FIRE movement and started his financial independence journey Building wealth on $35,000 a year: Andrew's early budgeting strategies The power of a high savings rate and how to achieve it on a modest income House hacking explained: How Andrew used a multi-unit property to eliminate housing costs Real estate investing for teachers and average income earners Portfolio breakdown: Andrew's asset allocation and investment strategy for early retirement The four-day work week advantage and how it accelerated his path to FIRE Choosing time over money: lifestyle decisions that make early retirement possible Side hustles for FIRE : Which ones are worth it Cash management strategies for approaching financial independence Approaching your FIRE number: What the final stretch looks like And SO much more! Learn more about your ad choices. Visit megaphone.fm/adchoices