Hack Your Wealth

Andrew Chen
  • 4.6 (72)
  • Investing
  • Updated Monthly

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.

  1. 06/06/2023

    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. 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: 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.

  2. 04/04/2023

    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, ...

  3. 11/22/2022

    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...

  4. 10/18/2022

    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 ...

  5. 09/20/2022

    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.

  6. 08/23/2022

    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 i...

  7. 05/03/2022

    How to do real estate due diligence when buying a home

    #89: Summer is fast approaching, and that’s traditionally when home-buying season ramps up.This week, I share insights on how to conduct due diligence when you’re looking to buy a home. Whether you’re buying a primary residence or investing in rental real estate, rigorous due diligence is critical to ensuring you get a good property at a reasonable price. In this episode, I explain my entire process for thoroughly analyzing a property before writing an offer.You learn:10 key things to look fo...

  8. 04/05/2022

    Mega Backdoor Roth

    #88: Have you maxed out your backdoor + mega backdoor Roth conversions yet? For high earners, direct contributions to a Roth IRA, and tax-deductible contributions to a traditional IRA, are limited by income thresholds. But ALL taxpayers – even high earners – can still invest money into a Roth via backdoor Roth conversion. And if your employer’s 401k has the right plan features, you can turbo-charge your Roth conversions another 7x by doing the “mega backdoor” Roth conversion. What the heck do these mean? And how exactly do you do them? This week, I share what these concepts are, tips for how to execute them successfully, and what you need to know about your employer 401k to turbo-charge your Roth conversions. I explain: The difference between a backdoor Roth vs. mega backdoor RothHow to execute each one + tips to ensure no tax liability when you convertWhat plan features your employer 401k must have to do a mega backdoor RothWorkaround if your employer 401k does NOT allow in-plan Roth conversions, but DOES allow after-tax contributions (yes, you can still move that money into Roth)How recent proposed legislative changes would curtail the backdoor Roth strategy, and whether you need to worry about itA note about doing mega backdoor Roth conversions via Solo 401k.Check it out here: https://hackyourwealth.com/mega-backdoor-roth Have you done a backdoor or mega backdoor Roth conversion before? If you’ve decided not to, what dissuaded you? 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: Traditional vs. Roth? How to double-dip on the tax benefits of BOTHWhat is a Solo 401k? And Why It Beats All Other Retirement AccountsEverything you need to know about 401Ks (HYW003)IRAs, Roth IRAs, and how to get the tax benefits of BOTH (HYW004)Schedule a private 1:1 consultation with meHYW private Facebook communityIntro/Outro: Old Bossa by Twin Musicom.

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4.6
out of 5
72 Ratings

About

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.

Information

  • Creator
    Andrew Chen
  • Years Active
    2019 - 2023
  • Episodes
    95
  • Rating
    Clean
  • Copyright
    © 2026 Hack Your Wealth
  • Show Website
    Hack Your Wealth

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