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232: Finance Friday: What Would You Do With an Extra $100k Per Year?

232: Finance Friday: What Would You Do With an Extra $100k Per Year?

FromBiggerPockets Money Podcast


232: Finance Friday: What Would You Do With an Extra $100k Per Year?

FromBiggerPockets Money Podcast

ratings:
Length:
84 minutes
Released:
Sep 17, 2021
Format:
Podcast episode

Description

Kari and her wife made some big moves over the past few years. They packed up their stuff and left the San Francisco Bay Area for a relocation in the midwest. Unlike the Bay Area, the Midwest has many affordable housing options with plenty of chances to house hack. So, that’s exactly what the couple did! They bought a duplex in rough condition, put in close to $80,000 of renovations, and now get $900 a month from the side they’re renting out.Although this renovation allowed them to live for free, it put a $66,000 hole in their pockets, which they recently just paid off. Without much retirement savings or investments in general (save the house hack), Kari is wondering what she can do to maximize the extra $100,000 in after-tax income she and her wife bring in every year.Should she go the index funds route, buy another rental, or help her wife pursue her dreams by investing in a restaurant? Scott and Mindy give Kari a lot of ideas in this episode, many of which could help you as well!In This Episode We CoverUsing “strategic debt” to grow your investments and income Planning your future finances when trying to start a family Investing in your 401(k), Roth IRA, Self-Directed 401(k), and other investment accountsUsing the “Live in Flip” model to avoid paying capital gain taxes Why you shouldn’t diversify when you are in a low to moderate net worth categoryAnd So Much More!See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Released:
Sep 17, 2021
Format:
Podcast episode

Titles in the series (100)

For those who have money… or want more of it! Join Mindy Jensen and Scott Trench (from BiggerPockets.com) weekly for the BiggerPockets Money Podcast. Each week, financial experts Mindy and Scott interview unique and powerful thought leaders about how to earn more, keep more, spend smarter, and grow wealth.