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329: From Extreme Poverty to DIY Wealth and 2 Full-Time Incomes w/The She Wolfe of Wall Street

329: From Extreme Poverty to DIY Wealth and 2 Full-Time Incomes w/The She Wolfe of Wall Street

FromBiggerPockets Money Podcast


329: From Extreme Poverty to DIY Wealth and 2 Full-Time Incomes w/The She Wolfe of Wall Street

FromBiggerPockets Money Podcast

ratings:
Length:
70 minutes
Released:
Aug 22, 2022
Format:
Podcast episode

Description

Wealth-building isn’t a pre-formulated path for most people. For those raised in poverty, the thought of financial stability seems like a far-out dream. Achieving financial independence or early retirement basically becomes an afterthought, or a fantasy only someone else could achieve. Without basic financial literacy and education, you could spend life aimlessly wandering without saving, investing, or thinking about a more promising financial future.But Amanda “She Wolfe of Wall Street” Wolfe did the opposite of that. Amanda was raised in extreme poverty, going long stretches of time without food, clean clothes, a shower, or school supplies. From a young age, she knew that most of her problems stemmed from a lack of money. The best way to solve that? Go to school, work hard, and make more money, so she could never feel poor again.But, when Amanda started bringing in a full-time income, her so-called “savings plan” went out the window. Set on not making the same mistakes as her parents, she revamped and reverse engineered her spending to match her savings and investing goals. She did this purely through DIY financial literacy and tenaciously asking questions. It paid off, and now she boasts a social media following of over 100,000, with two full-time incomes and a large reserve of retirement savings to boot!In This Episode We CoverEscaping childhood poverty through basic financial educationDIY financial literacy by asking questions others are too intimidated to401ks, Roth IRAs, HSAs, and other tax-advantaged investing accountsTweaking your “money mindset” to place yourself on the path to building wealthAmanda’s biggest financial mistake that, once corrected, increased her income two-foldBuilding your emergency reserves and using them to catapult your investmentsAnd So Much More!Links from the ShowBiggerPockets Money Facebook GroupBiggerPockets ForumsFinance Review Guest OnboardingScott's InstagramMindy's TwitterListen to All Your Favorite BiggerPockets Podcasts in One PlaceApply to Be a Guest on The Money ShowPodcast Talent Search!Subscribe to The “On The Market” YouTube ChannelListen to The “On The Market” Podcast: Spotify, Apple Podcasts, BiggerPocketsCheck Out Mindy’s 2022 Live Spending Tracker and BudgetXY Planning AdvisorFidelity InvestmentsShe Wolf of Wall Street WebsiteClick here to check the full show notes: https://www.biggerpockets.com/blog/money-329Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Check out our sponsor page!See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Released:
Aug 22, 2022
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.