605 | Retire in Less Than 10 Years

At 21, Cody Berman appeared on ChooseFI as a college student discovering financial independence. Three years later, he retired at 26. Now 30 with a $5 million net worth, he's back to reveal exactly how he compressed a decades-long journey into a three-year sprint—and why the same principles work whether you're 25 or 55.
The Journey from 22 to FI at 26
00:05:30
Cody's path to financial independence was methodical and aggressive. Between ages 22 and 25, he experimented with over 20 side hustles, scaling his income from $96K to more than $400K annually. The key? He kept expenses locked at just $24K per year—creating a massive gap of $625K over three years.
That gap fueled three wealth-building engines:
$500K in stock market investments (VOO, VTSAX, VTI)
13 rental properties generating $3,700/month in passive income
Digital products businesses producing $10K/month
By his 26th birthday, Cody had achieved "cashflow FI"—his passive income streams covered living expenses without touching his investment portfolio.
The Psychology of Financial Independence
00:18:00
Brad and Cody explore why some people achieve FI while others with similar incomes stay stuck. The answer isn't math—it's psychology and awareness.
Cody attributes his success to having a clear destination. When you know exactly where you're going and why it matters, spending $100 on something that doesn't serve that destination becomes harder than saying no. The infamous "second marshmallow" experiment demonstrates this: delaying gratification becomes easier when you're aware of what you're trading for.
As Cody puts it: "Earn more, spend less, invest the gap. Very simple. That is financial independence in a nutshell."
Passive Income Reality Check
00:28:00
Let's demolish the myth of truly passive income. Cody manages 13 rental properties—but spends just 4-5 hours per month on them. This represents the spectrum of passive income: not zero effort, but minimal effort relative to the returns.
The secret? Working in seasons rather than constant hustle mode. Some months require more attention (tenant turnover, maintenance issues), while others are nearly hands-off. Cody's businesses also follow this pattern—periods of intense development followed by relative autopilot.
Brad reinforces this with math: "Every $100 a month you can cut out of your budget is $30,000 less you need in your FI number." Over 20 years, that $100/month compounds to $60K invested. That's a $90K swing from a single optimization.
Designing the Perfect Tuesday
00:42:00
Forget exotic vacations—FI is about winning on a random Tuesday. Cody and Lauren's ideal weekday reveals what financial independence actually looks like:
Morning: Wake naturally, coffee together, workout (him: gym; her: Pilates), shower, work on creative projects they enjoy
Midday: Lunch together, afternoon walk in their neighborhood, separate time for individual pursuits
Evening: Dinner together, reading, quality time before bed
Nothing dramatic. No yachts. Just complete autonomy over every hour of a normal day.
They maintain this through monthly alignment meetings—typically at a restaurant over a nice meal—covering:
Money and real estate
Health and fitness
Travel plans
Relationships (with a safe space to address concerns)
Friends and family
A rotating category
Goals for the next month
They also record an annual video reviewing the year, creating a time capsule of their journey.
Post-FI Life and the Book
00:58:00
What actually happens when you achieve FI? Cody shares the uncomfortable truth: "Anything that you say that you want to do and that you don't do is a Cody problem. Before FI, you can blame things on time. You can blame things on money."
When those excuses disappear, you're left facing yourself. That can be liberating and terrifying.
His new book, Retire by Thirty, addresses this and more. Like Tim Ferriss's The Four Hour Workweek, the title is provocative but the principles are universal. Whether you compress your FI journey from 50-55,...