95 episodes

As a lawyer / engineer / MBA, how can you achieve FIRE (financial independence, retire early) rapidly to quit the rat race, pursue your passions, and live life on your own terms? Andrew Chen – founder of the Hack Your Wealth Blog and lawyer, financial expert (CFA graduate), and tech industry veteran – shows you strategies and tactics to (1) earn, (2) save, (3) invest, and (4) protect as a high earner so that you can build massive wealth and create a portfolio that’s a FIRE machine. Through solo lessons, expert interviews, and side hustle profiles, you’ll learn about tax strategies, retirement account optimization, asset allocation & rebalancing, passive income (real estate investing, side hustling, online business, digital nomading), family finances (e.g., strategizing college education costs), travel hacking, estate planning, and career transitions. Andrew podcasts about the big picture concepts, then adds step-by-step implementation guides downloadable from the Hack Your Wealth website to help you FIRE strategically, methodically, and rapidly.

Hack Your Wealth Andrew Chen

    • Business
    • 4.6 • 67 Ratings

As a lawyer / engineer / MBA, how can you achieve FIRE (financial independence, retire early) rapidly to quit the rat race, pursue your passions, and live life on your own terms? Andrew Chen – founder of the Hack Your Wealth Blog and lawyer, financial expert (CFA graduate), and tech industry veteran – shows you strategies and tactics to (1) earn, (2) save, (3) invest, and (4) protect as a high earner so that you can build massive wealth and create a portfolio that’s a FIRE machine. Through solo lessons, expert interviews, and side hustle profiles, you’ll learn about tax strategies, retirement account optimization, asset allocation & rebalancing, passive income (real estate investing, side hustling, online business, digital nomading), family finances (e.g., strategizing college education costs), travel hacking, estate planning, and career transitions. Andrew podcasts about the big picture concepts, then adds step-by-step implementation guides downloadable from the Hack Your Wealth website to help you FIRE strategically, methodically, and rapidly.

    Healthcare planning = retirement planning

    Healthcare planning = retirement planning

    #95: The biggest concern many would-be retirees have, at least in the US, is the cost of healthcare.
    Not only is healthcare more expensive in the US than in every other industrialized country. There’s also no national health insurance system to control costs or standardize care quality…unless you’re a senior or very poor (or both).

    In fact, were it not for worries about healthcare, there would undoubtedly be way more US retirees out there today. The average retirement age would drop noticeably.

    Because no less than your retirement security is at stake, healthcare financial planning is retirement planning.

    That’s why I invited Bo Bowen to the podcast today to share his unique perspective on healthcare financial planning in retirement. Bo is both a healthcare practitioner (pharmacist) and a certified financial advisor who has specialized in advising on healthcare financial planning and retirement health insurance. His dual background gives him unique insight into the way healthcare financial planning is crucial for retirement security.

    We discuss:
    The biggest challenges retirees face when it comes to healthcare planningWhat retirees should think carefully about when it comes to health insurance in retirementHow those considerations change depending on your retirement ageChecklist for choosing the right health insurance plan if you’re retiring soonCommon mistakes retirees make when planning for post-retirement healthcareWhen self-insuring might be your best choice in retirementHow medical tourism can play an important role in retirement healthcareWhat retirees should know about buying health insurance on ACA marketplace exchangesCheck it out here:
    https://hackyourwealth.com/health-insurance-retirement-planning

    If you’ve already retired, what do you do for health insurance? Knowing what you know now, what (if anything) would you do differently in terms of healthcare planning in the years before retiring?


    If you have NOT retired yet, how big of a factor is healthcare and health insurance to your decision of when to retire?
    Let me know by leaving a comment.

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    Related links:
    https://www.healthinsurance.orghttps://www.healthcarebluebook.comhttps://www.medibid.comhttps://www.linkedin.com/in/bo-bowen-1b64341a6Schedule a private 1:1 consultation with meHYW private Facebook communityIntro/Outro: Old Bossa by Twin Musicom.

    • 1 hr 14 min
    Real estate investing in short-term rentals and hotels

    Real estate investing in short-term rentals and hotels

    #94: Real estate investing changed a lot the last couple years, but one asset class consistently punched above its weight: short-term rentals, a.k.a., STRs, e.g., Airbnbs.
    In 2020, when people couldn’t go on vacation by hopping on a plane to Europe, South America, or Asia, they got in their cars and drove to national parks and mountain / beach / lake towns. Short-term rentals, often seen as safer than hotels, were on 🔥.
    In 2021, this trend exploded. 🔥🔥
    In 2022, when flying became a thing again, so did “revenge travel.” STRs accelerated even more. 🔥🔥🔥
    With average daily rates skyrocketing the last couple years, hordes of real estate investors snapped up homes to turn them into Airbnbs, trying to chase yield.
    Now the market is super saturated, with daily rates even contracting in places, and there’s tons of new short-term rental inventory (over half of Airbnb listings added since 2020).
    So how can you stand out as an STR real estate investor in the current climate?
    In this episode, I interview Diya Liu, a seasoned short-term rental investor who scaled from zero to 9 STRs in one year, netting $100k annual profit, and then quit her BigLaw job to do short-term rental real estate investing full-time. She currently owns three hotels and a dozen STRs.
    We discuss:
    Diya’s RE portfolio breakdown - STRs vs. hotelsHer step-by-step analysis process for screening potential STR vs. hotel dealsHow she analyzes local STR regulations in a marketKey interior design principles she implements for her STRsMarketing strategies to help your STR stand outAutomation strategies for your STRs - using VAs, messaging guests, etcHow she met her investment partners and how they split up work​Check it out here:
    ​https://hackyourwealth.com/short-term-rental-hotel-investing​
    ​Are you an STR investor? If so, how have bookings changed in the last 1-2 years? Do you see over-saturation in listings inventory in your area? Are you trying out any different strategies this year? Let me know by leaving a comment.

    Don't miss an episode, hit that subscribe button...
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    Apple PodcastsOvercastSpotifyStitcherI need your help, please leave a listener review :)
    If you liked this episode, would you please leave a quick review on Apple Podcasts? It’d mean the world to me and your review also helps others find my podcast, too!
    Related links:
    https://www.instagram.com/diyaesqhttps://www.facebook.com/groups/AirbnbProfessionalSchedule a private 1:1 consultation with meHYW private Facebook communityIntro/Outro: Old Bossa by Twin Musicom.

    • 56 min
    Health insurance for traveling early retirees

    Health insurance for traveling early retirees

    #93: Early retirees often fill their early years in retirement with lots of travel. There is even a vibrant community of nomadic early retirees who travel long-term.
    But what do you do about health insurance, especially if you’re American? Unlike in most other industrialized countries that have universal health insurance, American health insurance is generally tied to your employer, at least before you’re old enough to qualify for Medicare. That means if you don’t have a job, you generally don’t have health insurance. For early retirees, that’s a problem.

    What are the health insurance options for early retirees, especially those who plan to travel significantly in retirement?

    This week, I chat about early retirement health insurance options with Tracy Winters, Director of Individual Insurance at Good Neighbor Insurance, an Arizona-based health insurance brokerage that specializes in health insurance consulting for long-term travelers, expats, and traveling early retirees.

    We discuss:
    The big picture for how traveling early retirees should think about their health insurance optionsWhen it makes sense to simply self-insureTracy’s observations on which countries offer both high-quality and affordable healthcareTracy’s health insurance recommendations for early retirees who wish to travel abroad 100% vs. 90% vs. 50% vs. 25% of the timeACA marketplace health insurance options to consider for early retireesHow Medicare coverage is impacted when you travel long-termWhen it’s worth repatriating to the US vs. staying in-country to get medical care, plus what kind of insurance plans provide repatriation servicesCheck it out here:
    https://hackyourwealth.com/health-insurance-retirement-travel

    If you’re early retired, what do you do for health insurance?

    How do you handle health insurance when traveling as an early retiree?

    If you’re planning to early retire in the future, how important is health insurance coverage to your decision of timing when to early retiree?

    Let me know by leaving a comment.

    Don't miss an episode, hit that subscribe button...
    If you liked this episode, be sure to subscribe so you don’t miss any upcoming episodes!
    Apple PodcastsOvercastSpotifyStitcherI need your help, please leave a listener review :)
    If you liked this episode, would you please leave a quick review on Apple Podcasts? It’d mean the world to me and your review also helps others find my podcast, too!
    Related links:
    About Tracy WintersSchedule a private 1:1 consultation with meHYW private Facebook communityIntro/Outro: Old Bossa by Twin Musicom.

    • 53 min
    How a female MBA early retired at 39 (+ her advice for women pursuing FIRE)

    How a female MBA early retired at 39 (+ her advice for women pursuing FIRE)

    #92: Most FIRE stories are of men. A lot seem to be of ex-software engineers (on blogs anyway). It’s rare to see profiles of early retired women, especially single women who retired early from ambitious careers.

    Also, most FIRE stories focus on strategies for things like accumulating enough assets to FIRE. Investment selection. Portfolio allocation. Safe withdrawal rates. Sequence risk.

    These are important topics for sure. I’ve covered many of them on HYW. But they are also very much about the mechanics.

    It’s rare to hear how early retirees grapple with stuff like: loss of professional identity, building a new non-career identity, finding purpose, fulfillment, and community as an early retiree; or dating and companionship in early retirement.

    This week, I chat with Kim (last name withheld at her request) about her journey from MBA to corporate career to early retirement at 39 and her life and identity now 5 years post-FIRE. We discuss some of these rarely mentioned topics, as well as what it’s been like so far in early retirement as a single woman.

    We talk about:
    Kim’s career path before early retirementHow she came up with her FIRE numberHer numbers: earning/income trajectory from MBA graduation to early retirement, spending level during her career & now in retirementHer asset allocation + tactics she uses for managing, rebalancing, risk mitigation, and withdrawing from her portfolioFactors she considered in terms of spouse/family vs. early retirementAdvice on dating and companionship in early retirementWhat she learned about finding a new non-career identity, purpose, and fulfillment in early retirementHow Kim spends her days now & how she’s found community as an early retireeHer advice for other young women who are interested in FIRECheck it out here:
    https://hackyourwealth.com/retire-early-women-business-career-professional

    Know any other interesting unmarried women who are pursuing or achieved FIRE? I’d be interested in potentially interviewing them for the podcast. Let me know by leaving a comment.

    Don't miss an episode, hit that subscribe button...
    If you liked this episode, be sure to subscribe so you don’t miss any upcoming episodes!
    Apple PodcastsOvercastSpotifyStitcherI need your help, please leave a listener review :)
    If you liked this episode, would you please leave a quick review on Apple Podcasts? It’d mean the world to me and your review also helps others find my podcast, too!
    Related links:
    Schedule a private 1:1 consultation with meHYW private Facebook communityIntro/Outro: Old Bossa by Twin Musicom.

    • 1 hr 5 min
    Financial independence in healthcare: how a dentist built a $7M nest egg

    Financial independence in healthcare: how a dentist built a $7M nest egg

    #91: It’s no secret that many healthcare professionals earn lots of money. So, you might think it’s relatively easy for them to achieve financial independence and retire early (or at least step back from demanding clinical hours).
    Aaaand….you’d be right about that!
    Sure, earning healthcare money is not a requirement for FIRE. But if you do, you certainly have more options…even if you also have large expenses (like kids).
    This week, I talk with Dr. G (anonymized, his request), a dentist with two kids in the midwest who built a $7 million nest egg before stepping back from clinical practice. He explains the actions he took to build his wealth…and what he’s doing now.
    We discuss:
    His career path as a dentistNet worth after finishing dental schoolAge when he broke even and when he reached FIHow much he earned right out of dental school, when he broke even, when he reached FI, plus how much he earns passively nowSpending level over the years, plus how much he spends post-FIAsset allocation breakdownMain actions he took that had the biggest impact on net worthHis thought process on stepping back from clinical work with two young kids still in towFIRE tips for people with kidsCheck it out here:
    https://hackyourwealth.com/dentist-financial-independence-retire-early
    What type of FIRE profiles (career path, earning level, family/kid status, etc) do you want to hear more about? Let me know by leaving a comment.

    Don't miss an episode, hit that subscribe button...
    If you liked this episode, be sure to subscribe so you don’t miss any upcoming episodes!
    Apple PodcastsOvercastSpotifyStitcherI need your help, please leave a listener review :)
    If you liked this episode, would you please leave a quick review on Apple Podcasts? It’d mean the world to me and your review also helps others find my podcast, too!
    Related links:
    Schedule a private 1:1 consultation with meHYW private Facebook communityIntro/Outro: Old Bossa by Twin Musicom.

    • 54 min
    How to pay for college

    How to pay for college

    #90: It’s back to school season, and that means it’s also the time of year for high school seniors to start agonizing over college applications.

    Applying to college is an anxiety-filled rite of passage for high school seniors, but it’s often just as anxiety-inducing for parents who bang their heads on how to pay for it.

    That’s because paying for college is, for many families, the biggest single expense they’ll have for their child. It’s also often the second biggest life expense a family will incur, right behind buying a home. Paying for college is like buying a Tesla Model Y and giving it away. Every year, for four years.

    So this week, I chat with my friend Ann Garcia about how to pay for college. She just wrote a new book on this topic, which we discuss in detail, along with important new updates to the federal financial aid process (FAFSA) + key things to know about 529 plan rules.

    We discuss:
    Why Ann decided to write this book now, what makes it differentThe mind-boggling cost of college today; forecasted cost in 15 yearsWhy college costs so much now, what’s driven up the cost in recent decadesGoals that colleges are trying to accomplish with their financial aid awardsThings parents should do to prepare their child and finances for the cost of college from birth to high schoolWhy it’s important for your child to do the official campus tour for colleges they’re interested inRecent key changes and updates to the FAFSA processDifference between 529 savings plans vs. pre-paid tuition plans vs. Private College 529Mechanics of 529s: roll-over-ability, qualified expenses, taxes & penalties for non-qualified expenses, how scholarships are handled, changing beneficiariesCheck it out here:

    https://hackyourwealth.com/how-to-pay-for-college


    Have you been through (or will soon go through) the college financial aid process? What’s been the most confusing or frustrating aspect? Let me know by leaving a comment.

    Don't miss an episode, hit that subscribe button...

    If you liked this episode, be sure to subscribe so you don’t miss any upcoming episodes!
    Apple PodcastsSpotifyI need your help, please leave a listener review :)
    If you liked this episode, would you please leave a quick review on Apple Podcasts? It’d mean the world to me and your review also helps others find my podcast, too!

    Related links:
    Book: How to Pay for College: A complete financial plan for funding your child's educationOnline course: The College Financial Plan Masterclass - 20% discount exclusively for HYW subscribers (use code: HYW20)TheCollegeFinancialLady.com529 college savings plans: rules, tax benefits, & qualified expenses (HYW026)College financial aid tips and strategies, with Ann Garcia (HYW053)College student financial aid changes coming to the FAFSA application (HYW079)Schedule a private 1:1 consult with meHYW private FB communityIntro/Outro: Old Bossa by Twin Mus

    • 1 hr 15 min

Customer Reviews

4.6 out of 5
67 Ratings

67 Ratings

bradchandlercoaching ,

Great Podcast!!!

Hack Your Wealth" isn't just a podcast, it's a comprehensive guide to financial freedom, blending together an exquisite mix of education, motivation, and enlightenment. Each episode offers practical advice that's as engaging as it is informative, demystifying the complex world of finance and wealth-building. The guest experts add an insightful layer to the show, broadening the scope and diversity of the topics covered. Undeniably, it's a must-listen for anyone on a journey to financial independence and wealth creation. A true 5-star treasury of knowledge!

Fjdfjgigg ,

Thoroughly impressed with the Extensive Questions Asked!

Truly informative. Every podcast. My man asks the questions that you have after you finishing listening to a video and podcast and wondering. Yeah he asks them during his podcast. Never write reviews but definitely had to take 60 seconds to right this for how much knowledge I learned. Thank you. Great podcast of Tax Liens!

mchoi7 ,

For those seeking financial independence…

Andrew provides specific and tangible advice along with his interviewees. Very different from other podcasts/blogs. Direct and engaging content. Go to his blog, he has very helpful material!

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