53 min listen
236: Finance Friday: Enjoy Life Before FI with Simple Investing Strategies
236: Finance Friday: Enjoy Life Before FI with Simple Investing Strategies
ratings:
Length:
91 minutes
Released:
Oct 1, 2021
Format:
Podcast episode
Description
Strong frugality is hard to come by. Not many people would write off their solar system as a business expense and use bitcoin mining to provide heat to their house, instead of using a space heater. These are just two things that Yourri, an engineer and diversification whiz, has done to make his balance sheet as optimized as possible.Yourri has spent the better part of the last decade at school and was able to graduate with a phenomenal job doing something he loves. He makes $120,000 a year but has a big retirement goal of $7,000,000! While this may seem like a massive number to most, Yourri should be able to hit it with some regular investing due to his age and aggressiveness to invest. But, he’ll need to opt-out of an over-diversified investing strategy if he wants to reach this goal as fast as possible.Passion projects are also a big part of Yourri’s life, as he’d like to rebuild a vintage motorcycle, get his pilot license, and adopt as many dogs in need as he can. He has a calculated outlook on his financial growth, and there’s no doubt he’ll hit his goals!In This Episode We CoverPursuing high-cost hobbies and understanding that FI isn’t all about saving every pennyWhether or not diversification could be slowing down your net worth growth The “golden butterfly” investing ratio that helps mitigate risk when investingWriting off solar systems as a business deduction when in a buy-back program Mining bitcoin for not only extra income but free heat!Whether a 401(k) or a Roth 401(k) is the best option for your retirementAnd 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:
Oct 1, 2021
Format:
Podcast episode
Titles in the series (100)
#13: Achieving FI Before 40 Despite Breaking Every Financial "Rule" with Tanja from Our Next Life: Tanja reached financial independence (FI) and retired from her full-time, high-stress job at age 38—despite not being a natural saver, having purchased two brand-new cars in the past, and not maxing out her 401(k) in the beginning—pretty much... by BiggerPockets Money Podcast