BiggerPockets Money Podcast
Episode: From $90K Debt to COAST FIRE at 45
Date: August 26, 2025
Hosts: Mindy Jensen & Scott Trench
Guest: Aubrey Williams
Episode Overview
In this episode, Mindy Jensen and Scott Trench sit down with Aubrey Williams, a member of the financial independence (FI) community who rebuilt his financial life after a difficult divorce. Aubrey shares his journey from being burdened with $90,000 in debt to achieving COAST FIRE by age 45—financial independence with ongoing meaningful work—while navigating single parenthood in one of America's most expensive cities. The conversation covers mindset shifts, practical cost-cutting strategies, and his transition from a high-paying corporate role to launching a thriving, advice-only financial planning business.
Key Discussion Points & Insights
Aubrey’s Financial Wake-Up Call ([02:34])
- Background: Aubrey describes how a divorce left him with all household debt, reduced savings, and the need to buy out his ex-wife’s share of his pension. He downsized from a three-bedroom home in Santa Barbara to a one-bedroom apartment shared with his children.
- Initial Missteps with Financial Advisors: Aubrey sought out three different financial advisors but found their investment focus mismatched to his urgent needs (budgeting & debt). The advice he received—such as stopping 401(k) contributions—failed to address underlying spending habits and cost him years' worth of company matches.
Quote ([04:00]):
“I went from earning well, saving well...to living in a one-bedroom apartment...I ended up with all the debt because I was the one who had the steady paycheck...I needed help with budgeting and cash flow and paying down debt, obviously, and [my advisor] wasn’t...interested in that.”
— Aubrey Williams
Turning Point: Embracing Financial Independence ([04:40])
- DIY Investing: Once Aubrey understood asset management fees (“1% AUM”), he terminated his advisor and took investing into his own hands.
- Small Changes, Big Impact: He adopted micro-optimizations (“a couple dozen or even a hundred changes”)—from switching to double-edged razors to analyzing grocery costs—which, collectively, produced substantial savings.
Quote ([05:50]):
“It’s a couple dozen or even a hundred changes like that that also affect the trajectory.”
— Aubrey Williams
Frugality Mindset & Smart Spending ([08:39])
- Experimentation: Aubrey recounts weighing every ingredient in Trader Joe’s trail mix and comparing costs at Costco, only to discover Trader Joe’s was cheaper.
- Scott and Mindy’s Take: The hosts stress that it’s not about micromanaging every expense, but about being intentional—especially when starting from median income or little savings.
- Mindy references J. Money’s “Challenge Everything”—advising listeners to periodically revisit insurance and recurring costs.
Quote ([13:20]):
“This is absolutely necessary analysis for most people...Almost everybody starts out at a median income or with very little in the way of assets...the thing we can control is our expenses and these analyses make an enormous difference at that stage in the journey and get the snowball going.”
— Scott Trench
- Prioritizing the “Big Four” Expenses:
- Taxes: Max out tax-advantaged accounts (401k, HSA, FSA)
- Housing: Downsize or reduce rent/mortgage
- Food: Slash restaurant and grocery spending via meal planning and frugality
- Transportation: Ditch expensive cars for practical ones (sold BMW, bought Prius)
Quote ([18:02]):
“Go out for the big fancy dinner...then you can make it a once-a-year or twice-a-year thing instead of always feeling like ‘I can’t’...That’s a mental model or a framework I have found helpful.”
— Aubrey Williams
Geography Constraints & Making FI Work in a HCOL Area ([19:19])
- Staying in Santa Barbara: Aubrey explains why he remained in one of the most expensive US cities (quality of life, community).
- Results: Despite half his take-home pay going to child support and alimony for five years, he paid off all debt, doubled net worth, and reached a 62% net savings rate within four years.
Quote ([20:43]):
“Learn to live on half—some of us don’t have a choice...Once those elements stopped...I could keep living the way I was and just pile that money into investments.”
— Aubrey Williams
The Evolution: From Consumer to Advice-Only Financial Advisor ([29:34])
- Professional Pivot: Aubrey details his transition from corporate R&D director to financial planning entrepreneur. He started with coaching, later became an advice-only RIA (Registered Investment Advisor) driven by a desire to improve the industry and serve the FI and neurodiverse communities.
- Business Model:
- Hourly/advice-only (no asset management)
- Transparent, flat fees
- Focus on maximizing impact over profit
Quote ([38:25]):
“It’s very hard to get somebody to understand something if their salary depends on them not understanding that...This ‘fee-only’ concept has now been, I think, replaced—or is being replaced—with ‘advice-only.’ That’s the bandwagon I’m jumping on.”
— Scott Trench
- Revenue Growth & Business Impact:
- First quarter: $7K/month
- Recent month: $22K/month
- ~80 clients in 18 months, intentionally pausing intake to build scalable systems
Achieving COAST FIRE & Portfolio Construction ([43:13], [44:35])
- Status: If living elsewhere, Aubrey would be fully FIRE; in Santa Barbara, he's Coast FIRE—work is optional, but chosen for fulfillment.
- Portfolio: “Just about 100% equities with a cash position” (9 months’ expenses).
Quote ([43:13]):
“If I lived anywhere else, I would be FI[RE]. But since I live in Santa Barbara, I’m COAST FIRE. I’m having more fun than I’ve ever had in my life.”
— Aubrey Williams
Quote ([45:58]):
“To some extent it’s a hangover from my anxiety and fear before leaving the corporate job...I recognize that [holding too much cash] is a cash drag...but for me, psychologically it’s serving me.”
— Aubrey Williams
Entrepreneurship Lessons ([46:50])
- Side Hustles: Early ventures included selling bricks in Mexico, temperature-measuring wetsuits for kids, and natural movement fitness classes.
- Main Takeaway: Commitment and confidence are vital. Low expenses create a safety net for risk-taking.
Quote ([50:53]):
“If you’re going to do it, commit. So you’re leaving behind the corporate job, you’re going to the conferences...This is your career now. That’s what made the difference—commitment and belief.”
— Aubrey Williams
Notable Quotes & Memorable Moments
- “All those little shavings add up.” — Scott Trench ([07:09]) (pun intended during razor blade cost analysis)
- “You can afford anything, you can’t afford everything.” — Mindy Jensen, paraphrasing Paula Pant ([18:44])
- “There is no such thing as fixed expenses and there’s no such thing as fixed income.” — Aubrey Williams ([21:16])
- “Just because you hear something right away you don’t have to decide yes or no forever. You can plant a seed…” — Aubrey Williams ([24:36])
- “If you love what you do, you’ll never work a day in your life.” — Mindy Jensen ([44:18])
Timestamps for Important Segments
- Aubrey’s Introduction and FI Background: 01:05–04:32
- Divorce as Financial Catastrophe / Debt Story: 02:34–04:32
- Transition to DIY Investing and Frugality: 04:40–08:10
- Frugal Experiments & Expense Analysis: 08:39–10:34, 13:08–16:07
- Prioritizing Big Expenses: 16:07–18:44
- Cost of Living and Staying in HCOL Area: 19:19–21:16
- Shifting Into Entrepreneurship / Advice-Only Planning: 29:34–32:40, 33:47–38:25
- Industry Perspective: Advice-Only vs. Fee-Only: 37:36–40:43
- COAST FIRE Achievement & Asset Allocation: 43:00–45:32
- Entrepreneurial Lessons: 46:50–51:19
Conclusion
Aubrey Williams’ story is a compelling testament to rebuilding after financial setbacks, the transformative power of financial independence principles, and the payoff of focusing on both big-picture and small-scale financial decisions. His advice for listeners: Commit when you’re ready, optimize what you can control (especially as a beginner), don’t fear frugality, and remember you can create a fulfilling, meaningful life—even if you start over in your 40s.
Next Episode Teaser: Aubrey returns to discuss “guardrails”—how to set safe withdrawal boundaries for spending in early retirement.
Where to Find More
- Aubrey Williams: openpathfinancial.com, Facebook, Instagram, LinkedIn, YouTube (Talks at CampFI)
- Related Resources:
- J. Money's "Challenge Everything" (Budgets Are Sexy)
- Mr. Money Mustache, Early Retirement Extreme
- Paula Pant’s “You Can Afford Anything”
- JL Collins, Rick Ferri, Cody Garrett
Hosts: Scott Trench & Mindy Jensen
Guest: Aubrey Williams
Podcast: BiggerPockets Money Podcast