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234: Finance Friday: From “We Can’t Retire” To Retiring Early in 5 Years

234: Finance Friday: From “We Can’t Retire” To Retiring Early in 5 Years

FromBiggerPockets Money Podcast


234: Finance Friday: From “We Can’t Retire” To Retiring Early in 5 Years

FromBiggerPockets Money Podcast

ratings:
Length:
83 minutes
Released:
Sep 24, 2021
Format:
Podcast episode

Description

A rock-solid financial position consists of a few things: budgeting, expense tracking, living below your means, and making extra income. Once those are accomplished, you’re on track to start investing heavily and financial independence is in sight. This is exactly the position Lynsey (mother to Mindy’s pool boy) is in.Lynsey and her husband bring in a moderate salary from his job and her businesses of jewelry making, relationship counseling, and their garage and basement house hack. For a long time, Lynsey assumed she would never be able to retire, but as her income has grown she’s realized that she not only can retire but retire early. Lynsey has a few key ways she could increase her business revenue: outsourcing, marketing, and scaling. Her husband also has a strong suspicion he’s underpaid, meaning a boost in income could be one ask away for him. The couple also wants to invest in more short-term rentals or buy another house hack property. But, of all the options they’re presented with, which one will push the needle?In This Episode We CoverCreating a “hype folder” so you can painlessly ask for a raise Shopping the sales and feeding a family of five for $700 per monthCreative house hacking by renting out basements, garages, and other dwelling areasUsing a self-directed 401(k) to invest in real estate and grow retirement savings What to do with a large amount of cash while you’re waiting to invest?Outsourcing repetitive tasks in your business so you can scaleAnd 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 24, 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.