BiggerPockets Money Podcast – Episode Summary

Episode Title: FI at 44 AFTER Taking a Year Off at 31
Release Date: September 30, 2025
Hosts: Mindy Jensen & Scott Trench
Guest: Alex Morales (@GirlChasingWealth)

Episode Overview

In this episode, Mindy and Scott sit down with Alex Morales, a marketing professional and personal finance creator known as "Girl Chasing Wealth," who recently began a self-funded, year-long sabbatical at age 31. They discuss how Alex strategically planned for financial independence (FI) by age 44—despite living in a high-cost California city, not earning a tech-level salary, and stepping away from her career for a year. The hosts and Alex provide a refreshingly realistic look at the trade-offs and mindset shifts required to blend aggressive saving with living in the present.

Main Discussion Points & Insights

Discovering FI/RE & Early Money Moves

• Alex’s FI/RE Discovery:
  • Learned about FI/RE while “doom scrolling” TikTok in January 2021 via a video from Millennial Money Honey.
  • Realized early retirement is a number, not an age ([01:49]).
  • "That was the seed that was sort of planted in my mind... I was 26, so pretty early on in my career." — Alex ([01:54])
  • Was already a good saver with about $50,000 in accumulated savings at that time.
• Initial Money Moves After Discovering FI/RE:
  • Opened her first IRA, increased 401k contributions, started tracking spending, and opened a brokerage account ([03:37]).
  • Cut unnecessary spending, especially on eating out and shopping ([04:20]).
  • "I don't think you really realize... how much you're spending on these certain categories until you're really tracking it." — Alex ([04:33])

Extreme Savings on a Modest Salary

• Income & Savings Rate:
  • Early-career income: $60,000/year plus a 4-5% bonus ([05:39]).
  • Initially reached a 55-65% savings rate—“living in like extreme frugality.”
  • Evolved from extreme frugal practices to intentional spending—allowing flexibility, especially around travel ([06:10]).
• Living in a High-Cost Area:
  • Despite living in Ventura, CA, kept costs low by having roommates and shopping wisely ([07:15]).
  • “Most people don't want to live with roommates... but if building wealth is what you really want, it's crazy not to do so.” — Alex ([08:17])
• Hosts' Emphasis:
  • Mindy and Scott reinforce that controlling housing costs—specifically by having roommates—is often the single biggest enabler for someone pursuing FI/RE in expensive cities ([07:46]).

Investment Approach

• Maxed out IRAs and significantly increased 401k contributions; invested excess in brokerage accounts.
• Began dollar-cost-averaging into Bitcoin, but keeps crypto as a small part of overall portfolio ([15:00]).
• “I do not think bitcoin is a sound investing strategy to reach early retirement, but I didn't want to miss out...” — Alex ([15:30])

Funding the Sabbatical

• How She Structured Her Break:
  • Did not take an official sabbatical; she quit her job, as her company didn’t offer one ([17:06]).
  • "My company doesn't offer sabbaticals. I gave my notice and quit my job." — Alex ([17:12])
  • Lowered retirement contributions and amassed nearly $40,000 in cash before her break ([20:14]).
  • Also has her first year of meaningful side-business income to help buffer expenses ([20:20]).
• Not Tapping Investments:
  • Plans to cover sabbatical costs strictly from cash savings, not selling investments ([16:11]).

Life Design & Mindset

• Weighing Delayed FI for Life Experience:
  • Alex values taking breaks during her career, even if it means pushing back FI by a few years ([27:26]).
  • “We get so focused on that one end goal... we can sometimes lose sight of what's really important... For me, I value my time and I value my experiences.” — Alex ([27:30])
• Abundance Mindset:
  • She aims to grow her business and believes in her resourcefulness to replenish savings later ([29:08]).
• Intentional Enjoyment of the Journey:
  • Wants to "embrace rest" and do things like travel, try hobbies, simply enjoy life without a rigid productive schedule ([29:41], [30:49]).

Side Hustle & Entrepreneurial Thoughts

• Runs the Instagram account "Girl Chasing Wealth," sells digital products, partners with brands, and is considering building a coaching program ([25:52]).
• Unsure if she’ll pursue this work full-time, but is open to the path if circumstances allow ([26:58]).
• “My ultimate goal is FI/RE and I don’t feel my net worth is quite high enough to go all in on my business quite yet.” — Alex ([26:58])

Future Plans, Risks, and Career Re-Entry

• No job lined up post-sabbatical, but is confident something will materialize and hopes to secure a higher-paying role ([32:18]).
• Is actively networking and considering moving into fintech or tech to increase salary ([32:44]).
• Has set a new FI/RE number of $1.75M, up from $1M, to better reflect her desired lifestyle ([33:31]).
• “I realized I wanted to have more flexibility with travel and experiences. So I did bump that up to... 1.75 million.” — Alex ([33:37])

Notable Quotes & Moments

• “Most people don't want to live with roommates... but if building wealth is what you really want, it's crazy not to do so.” — Alex ([08:17])
• “I think your approach is better.” — Mindy, on the balance between saving and enjoying the present ([12:36])
• “It's almost impossible to move towards fire in a situation like yours in a high cost of living market if you don't do something special with your housing. In your case, it's as simple as... having roommates.” — Scott ([07:46])
• “We get so focused on that one end goal... sometimes lose sight of what's really important... For me, I value my time and experiences.” — Alex ([27:30])
• “I think a lot of us overthink it and I think it's just, it's just really refreshing to hear a completely different spin on the fire movement and how she's approaching it.” — Scott ([39:19])
• “Live like no one else now, so you can live like no one else later. And she is going to live like no one else later.” — Mindy ([41:31])

Key Timestamps

• [01:49] – Alex discovers FI/RE and starts deep dive into personal finance
• [03:37] – Tactical changes: IRA, 401k, tracking spending
• [05:39] – Early-career income/savings rates
• [07:15] – Living in a high-cost area with roommates; housing hack discussion
• [13:22] – Details on roommate dynamics and Mindy/Scott’s similar experiences
• [15:00] – Investing approach, including cautious Bitcoin for diversification
• [16:11] – Funding the sabbatical with cash, not investments
• [17:12] – Why Alex quit instead of taking a formal sabbatical
• [20:14] – Budget for the year off ($39K), plans to travel selectively
• [25:52] – Side hustle: digital products, brand deals, coaching ambitions
• [27:26] – Navigating FI/RE timelines vs. taking intentional breaks
• [33:31] – Updated FIRE number and rationale
• [39:19] – Scott’s reflection on Alex’s refreshing approach and path

Episode Takeaways & Reflections

• Sustainable FI/RE is Possible on an Ordinary Salary: Alex’s journey proves that extreme frugality isn’t a prerequisite—just intentionality and big choices like shared housing.
• Roommates Are a Gamechanger: Hosts emphasize repeatedly that low housing costs—by choosing roommates—is the core lever, especially in costly regions.
• Intentional Life Design: It’s possible to pause, travel, and invest in yourself without permanently derailing your FI/RE plans.
• Money as a Tool: Alex’s evolving mindset—valuing rest, time, and experiences—exemplifies a balanced, human approach to the FI/RE movement.

Where to Follow Alex

• Instagram: @GirlChasingWealth
• Website: GirlChasingWealth.com

For anyone seeking relatable stories and actionable strategies for pursuing financial independence—even with a modest salary, in an expensive city, or while considering a career break—this episode is packed with real-world wisdom and contagious optimism.