BiggerPockets Money Podcast

In this episode of the BiggerPocketsMoney podcast, Mindy Jensen and Scott Trench host Ryan Sterling, CEO of NerdWallet Wealth Partners, to discuss the nuances of different financial advisor compensation structures. Whether you're planning your financial future or evaluating advisors, understanding these models can help you make informed decisions that align with your goals. This Episode Covers: The core differences between flat fee and assets under management (AUM) fee models How transparency and client mindset influence fee preferences The conflicts of interest inherent in AUM and commission-based models When AUM fees may be more appropriate for high-net-worth clients Practical scenarios demonstrating long-term cost implications of each model The evolving landscape of flat fee financial planning and industry fee compression Ryan’s insights on selecting quality advisors and the importance of credentials like CFP How fee structure impacts client behavior, trust, and long-term financial outcomes To go beyond the podcast: Kick start your financial independence journey with our FREE financial resources Subscribe on YouTube for even more content Connect with us on social media to join the other BiggerPockets Money listeners Connect with Ryan Sterling:  LinkedIn NerdWallet Wealth Partners We believe financial independence is attainable for anyone no matter when or where you’re starting. Let’s get your financial house in order! NerdWallet Wealth Partners, LLC is an SEC-registered investment adviser. Registration does not imply a certain level of skill or training and nothing contained herein should be construed as investment advice. NerdWallet Wealth Partners does not guarantee investment results and does not provide tax or legal advice. Learn more about your ad choices. Visit megaphone.fm/adchoices

Trevor and his wife reached a $1 million net worth by age 32 and are on track to achieve financial independence well before 40. In this episode of the BiggerPockets Money Podcast, hosts Mindy Jensen and Scott Trench chat with Trevor about his unconventional journey involving strategic career moves, real estate investments, and leveraging corporate benefits. Learn how Trevor went from a $1,000 net worth after college to $1 million through smart financial decisions and opportunities. Trevor shares his experiences, challenges, and the importance of financial flexibility in achieving Coast Fire in his 30s. To go beyond the podcast: Kick start your financial independence journey with our FREE financial resources Subscribe on YouTube for even more content Connect with us on social media to join the other BiggerPockets Money listeners We believe financial independence is attainable for anyone no matter when or where you’re starting. Let’s get your financial house in order! Learn more about your ad choices. Visit megaphone.fm/adchoices

The 4% rule has a major flaw: it doesn't account for healthcare costs. If you're planning to retire early, health insurance premiums will rise sharply as you age—from your 30s through your 60s before Medicare kicks in at 65. This isn't speculation; it's how the U.S. healthcare system works under the ACA. On this episode of the BiggerPockets Money podcast, Mindy Jensen and Scott Trench break down why early retirees need a bigger financial buffer than traditional FIRE calculations suggest. Learn the real cost of healthcare in early retirement, strategies to reduce expenses (geographical arbitrage, health shares, catastrophic coverage), why you can't rely on ACA subsidies long-term, and how to build a healthcare plan that won't derail your path to financial independence. To go beyond the podcast: Kick start your financial independence journey with our FREE financial resources Subscribe on YouTube for even more content Connect with us on social media to join the other BiggerPockets Money listeners We believe financial independence is attainable for anyone no matter when or where you’re starting. Let’s get your financial house in order! Learn more about your ad choices. Visit megaphone.fm/adchoices

Are you on track to achieve financial independence? In this episode of the BiggerPockets Money podcast, Mindy Jensen and Scott Trench outline the essential financial milestones for your 20s, 30s, 40s, and 50s. Learn the net worth benchmarks and financial habits that will set you up for a successful journey to financial freedom in EVERY decade. Whether you’re just starting out or looking to refine your strategy, this comprehensive guide will help you plan and achieve your financial goals.  To go beyond the podcast: Kick start your financial independence journey with our FREE financial resources Subscribe on YouTube for even more content Connect with us on social media to join the other BiggerPockets Money listeners We believe financial independence is attainable for anyone no matter when or where you’re starting. Let’s get your financial house in order! Learn more about your ad choices. Visit megaphone.fm/adchoices

Should you retire the second you hit financial independence, or is there value in working just a little longer? Steven faced this exact decision at 40 and chose to work four more years. The result? He added $1 million to his net worth and entered retirement at 44 with $3.5 million and a bulletproof plan. In this conversation, Steven shares his complete early retirement strategy, including why he delayed retirement past his FI number, how those extra years set him up for flexible spending of $120K-$180K annually, and the specific withdrawal tactics he uses to optimize taxes and health insurance subsidies. This Episode Covers: Steven's journey from engineer to early retirement at 44 Why he chose to work four more years after hitting his FI number Career transitions and strategic income optimization Investment strategy and asset allocation for early retirement Planning the transition to early retirement Flexible spending strategy: $120K-$180K annual range Navigating the ACA subsidy cliff for health insurance Strategic Roth conversions and tax optimization Safe withdrawal rates and managing inflation Starting new business ventures in early retirement What daily life actually looks like in early retirement at 44 Steven's story proves that "one more year syndrome" isn't always fear-based procrastination—sometimes it's strategic planning that pays off big. Whether you're close to your FI number or just beginning your journey, his practical approach offers a roadmap for retiring early with confidence. Follow BiggerPockets Money: Website: https://www.biggerpocketsmoney.com Facebook: https://www.facebook.com/groups/BPMoney Instagram: https://www.instagram.com/biggerpocketsmoney/ Learn more about your ad choices. Visit megaphone.fm/adchoices

You've hit financial independence—now what? How do you actually start spending the money you've spent years accumulating? Bill Yount reached FI at 60 after a 10-year journey, and he's figured out the answer. Bill shares his complete decumulation strategy—the detailed plan he built with a flat-fee financial advisor to transition from wealth building to wealth preservation. This isn't just theory; Bill is actively living this plan and stress-testing it in real time. This Episode Covers: Bill achieving financial independence at age 60 The psychological shift from saving to spending after a decade of accumulation How to build a comprehensive drawdown plan (and why Bill hired help) Working with a flat-fee financial advisor vs. AUM advisors Portfolio rebalancing when transitioning to retirement Risk parity strategy and how it fits into retirement portfolios Stress-testing your financial plan: running scenarios to ensure you won't run out Social security timing decisions and optimization Retirement withdrawal strategies: the 4% rule and alternatives How much to actually spend in early retirement Helping your kids build wealth without jeopardizing your own retirement Financial independence for late starters: proof it's not too late after 50 Managing the emotional transition from accumulation to distribution phase Investment strategy changes in decumulation If you're approaching FI, already there and uncertain about spending, or starting your FIRE journey later in life, Bill's practical, well-planned approach shows you exactly how to transition from building wealth to confidently living off it. Subscribe to our Weekly Newsletter: www.biggerpocketsmoney.com Want to be a guest on the show? Apply here: https://biggerpocketsmoney.com/contact/ Get 50% Off Your First Year of Monarch by using code ‘Pockets’: https://www.monarchmoney.com/ Connect with Bill Yount:  Website: https://catchinguptofi.com/ Instagram: https://www.instagram.com/catchinguptofi/ Connect with Scott and Mindy: Scott: https://www.instagram.com/scott_trench/ Mindy: https://www.instagram.com/_mindyatbp/ Follow BiggerPockets Money on Social: Facebook: https://www.facebook.com/groups/BPMoney Instagram: https://www.instagram.com/biggerpocketsmoney/ Learn more about your ad choices. Visit megaphone.fm/adchoices