BiggerPockets Money

You could be missing out on the chance to earn passive income from your home (and other rentals!) with a “no-brainer” money move. This investing strategy is picking up steam and could become one of the big trends in real estate this year. Today’s guest was one of the early adopters, and it carried him to FIRE by his late thirties!

Welcome back to the BiggerPockets Money podcast! Today, we’re chatting with “That ADU Guy,” Derek Sherrell. Right before the 2008 housing market crash, Derek left his contracting job behind and returned to school to become a firefighter. Little did he know that this career move would provide the time, freedom, and connections to launch a full-blown side hustle alongside his W2 job. Before the age of forty, Derek became financially independent, with the ability to retire early, all thanks to this simple strategy. Since then, he has made it his life’s mission to inspire countless others to do the same!

In this episode, we’re taking a deep dive into accessory dwelling units (ADUs). Tune in to learn why the combination of serial house hacking and some kind of “secret sauce” (in this case, ADUs) is perhaps the easiest path to FIRE. Derek will tell you everything you need to know about buying, building, and renting out ADUs—from financing these units to scaling your business!

Support today’s show sponsor, BAM Capital, your path to generational wealth with premier real estate investment opportunities! 

In This Episode We Cover

Accessory dwelling units (ADUs) explained (and how they create passive income)

Why the modified serial house hacking strategy might be the easiest path to FIRE

How to completely replace your W2 income with cash flow from ADUs

How to easily (and affordably) convert a single-family home into a duplex

Why ADU investing could be one of the biggest investing opportunities in 2024

How to get your spouse on board with your real estate investing strategy

And So Much More!

Links from the Show

BiggerPockets Money Facebook Group

Network with Other Investors on The Path to FIRE Through the BiggerPockets Forums

Finance Review Guest Onboarding

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Mindy on BiggerPockets

Scott on BiggePockets

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Podcast Talent Search!

Find an Investor-Friendly Agent in Your Area

Find Investor-Friendly Lenders

Property Manager Finder

Check Out Derek’s Website

Derek on BiggerPockets

00:00 Intro

02:31 Life with FI & Current Portfolio

06:06 Derek’s Money Journey

12:26 Changing Careers & Building Wealth

18:21 Buying the “Lucky” House

28:14 House Hacking with ADUs

37:20 3 ADU Investing Strategies

49:06 Derek’s BIG Mission

55:58 Connect with Derek!

Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-547

Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email [email protected]

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The road to financial independence isn’t always linear, but stoicism might be the secret ingredient that keeps you on track. This ancient philosophy gets a bad rap, but with its framework as your financial “operating system,” you’ll be able to weather all kinds of storms!

Welcome back to the BiggerPockets Money podcast! Today, Darius Foroux is a business owner, landlord, financial educator, and the author of eight books. But as a boy, he watched his family live paycheck to paycheck for many years. Vowing to one day become wealthy, Darius started saving every penny possible, only to find that practicing staunch frugality could only take him so far. After more than a decade of hard work and sacrifice, he had just $10,000 to his name and, after student loans, a negative net worth. But in 2015, Darius made a seismic mindset shift that propelled him to FI in just FIVE years!

In this episode, Darius dispels the myth that stoicism is about suppressing emotions and lacking empathy. Instead, you’ll learn that its tenets revolve around creating balance, staying grounded, and changing how you respond to things beyond your control—virtues that are congruent with building wealth. But that’s not all. He will also show you how to increase your income, gain a “stoic edge,” and invest your money in 2024!

In This Episode We Cover

How Darius went from a low net worth to financial independence in FIVE years

Why reaching FI is easier with stoicism as your “operating system”

Why investing in yourself and learning new skills is the KEY to higher income

The three steps for gaining a “stoic edge” that helps you build wealth faster

The BEST way to start investing in the stock market in 2024

And So Much More!

Links from the Show

BiggerPockets Money Facebook Group

Network with Other Investors on The Path to FIRE Through the BiggerPockets Forums

Finance Review Guest Onboarding

Join BiggerPockets for FREE

Mindy on BiggerPockets

Scott on BiggePockets

Listen to All Your Favorite BiggerPockets Podcasts in One Place

Apply to Be a Guest on The Money Show

Podcast Talent Search!

Grab Darius’ Latest Book, The Stoic Path to Wealth

Connect with Amanda on Instagram

00:00 Intro

03:24 Darius’ Money Journey

11:16 Negative Net Worth & the “Aha!” Moment

22:25 Stoicism in Personal Finance

32:11 Building Wealth with Stoicism

41:36 How to Start Investing in 2024

47:04 Reaching FI & Retiring Like a Stoic

52:46 Connect with Darius!

53:19 Find Joy in the Journey!

Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-546

Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email [email protected]

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Fat FI and generational wealth in THREE years?! How is that possible? The sooner you forge good money habits, the sooner YOU can achieve your FI goal. Today’s guest wanted to build wealth as soon as possible, and in this episode, he will share the secrets to his enormous (and rapid) success!

Only a few years ago, Josh Janus was flipping sneakers he couldn’t afford and making DoorDash deliveries for a little cash. Today, he has a seven-figure income and an eight-figure real estate portfolio. Fat FI at the age of just twenty-three, Josh still has his entire life ahead of him and a significant net worth to deploy however he chooses. Will he continue to grind away as a real estate agent, working eighty-hour weeks and optimizing his time for even higherearnings? Or will he take his foot off the gas and enjoy some of the wealth he’s worked so hard to build?

Now, you may be in a very different season of life than Josh. After a family, career, and maybe even a late start to your FI journey, this explosive wealth-building trajectory might not be in the cards. But even if you don’t aspire to build a $15 million multifamily portfolio or revitalize your hometown, a few years of extreme discipline and sacrifice will unlock all kinds of financial opportunities. Tune in to Josh’s incredible story and find out how!

Support today’s show sponsor, BAM Capital, your path to generational wealth with premier real estate investment opportunities! 

In This Episode We Cover

How Josh achieved financial independence in just THREE years (at twenty-three!)

How to grow a seven-figure income as a real estate agent and investor

Building a large real estate portfolio (starting with little to no money!)

Increasing your income by evaluating your schedule for delegable tasks

How practicing discipline and sacrifice can fast-track your journey to FI

And So Much More!

Links from the Show

BiggerPockets Money Facebook Group

Network with Other Investors on The Path to FIRE Through the BiggerPockets Forums

Finance Review Guest Onboarding

Join BiggerPockets for FREE

Mindy on BiggerPockets

Scott on BiggePockets

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Apply to Be a Guest on The Money Show

Podcast Talent Search!

Find an Investor-Friendly Agent in Your Area

Find Investor-Friendly Lenders

Property Manager Finder

See Scott and Kyle at BPCON2024 in Cancun!

BiggerPockets Real Estate - Episode 749: From DoorDasher to $1.5 MILLION in Real Estate (All at 22 Years Old!) with Josh Janus

00:00 Intro

02:03 Josh’s Money Snapshot

10:34 What’s the End Goal?

13:13 Flipping Sneakers to Learning Real Estate

25:12 Becoming an Agent & Leaving College

28:52 $600K in Year ONE?!

35:16 The Real Cost of Success

43:52 “Seasons” of Life

49:04 Connect with Josh!

50:04 Hustle for Your FI Goal!

Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-545

Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email [email protected]

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Reaching financial independence and becoming a millionaire before the age of thirty?! While this path requires several years of ruthless saving, smart investing, and unwavering discipline, there’s no reason why YOU can’t enjoy financial freedom and attain the lifestyle you want!

Shortly after graduating from college with over $50,000 in student loans, Franklin Zheng found himself working a grueling, eighty-hour-per-week factory job. Fortunately, it was also around this time that he discovered BiggerPocketsand decided to try his hand at real estate investing. He started attending local meetups, where he learned that simply getting in the same room with other investors presented all kinds of opportunities. It wasn’t long before Franklin had found his future investing partner, and in just FIVE years, he has built a cash-flowing real estate portfolio of thirty-eight units, as well as a business that has allowed him to leave his W2 job and travel the world!

In this episode of the BiggerPockets Money podcast, you’ll get a glimpse of what it takes to achieve financial independence and amass a one-million-dollar net worth. Make no mistake—it’s not easy. Franklin will be the first to tell you that the last five years have been filled with all kinds of successes, challenges, and failures. But if he can do it, YOU can, too!

In This Episode We Cover

How Franklin reached financial independence by thirty in just FIVE years

What you MUST know before investing in commercial real estate

Fast-tracking your real estate journey through the power of local meetups

How to start a real estate business that allows you to leave your W2 job

The secret to forming successful real estate investing partnerships

How to defer capital gains tax on your rental property with a 1031 exchange

And So Much More!

Links from the Show

BiggerPockets Money Facebook Group

Network with Other Investors on The Path to FIRE Through the BiggerPockets Forums

Finance Review Guest Onboarding

Join BiggerPockets for FREE

Mindy on BiggerPockets

Scott on BiggePockets

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Apply to Be a Guest on The Money Show

Podcast Talent Search!

Find an Investor-Friendly Agent in Your Area

Find Investor-Friendly Lenders

Property Manager Finder

Connect with Franklin on BiggerPockets

See Scott and Mindy at BPCON2024 in Cancun!

Check Out the Top 100 Cash Flow Markets

Find a Local Real Estate Meetup

Find Answers to Your Real Estate Questions on the BiggerPockets Forums

00:00 Intro

01:10 The 80-Hour Factory Job

08:17 Real Estate Meetups & Partnerships

16:48 Renting to Attorneys

19:32 Selling the Office Building

23:07 “Unicorn” Rentals & 38 Units!

29:14 Starting the Lending Business

32:47 Leaving His W2 & Traveling the World

36:27 Put in the Work!

Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-544

Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email [email protected]

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You dream of retiring early, but you’re stuck in the “middle-class trap.” You’ve built up a solid net worth, maybe own a rental property or two, and on paper, you look like you’re on track to make it rich. But in reality, you don’t feel that way. With all your wealth tied up in home equity or retirement accounts, your “early” retirement may have to be pushed to the traditional age of sixty-five. So, how do you free up some of this wealth so you can start accessing it today to retire early tomorrow?

This is the question Emily and Justin are struggling to answer. They’ve gone from nothing to a substantial net worth—$1,500,000! With big dreams to travel internationally and retire from their jobs in twelve years, they’re wondering if they can still make it to early retirement AND if they can do so while enjoying life a little bit more today. Mindy and Scott offer some unconventional advice for the personal finance space, but it may help this couple feel more secure so they can start living today instead of waiting to finally retire in twelve years!

Support today’s show sponsor, BAM Capital, your path to generational wealth with premier real estate investment opportunities! 

In This Episode We Cover

The “middle-class trap” that stops even millionaires from retiring early

Why you should NOT sacrifice everything now just to retire a few years earlier 

What to do when you struggle to spend more, even on the things you love

Paying off your primary residence early vs. keeping a low-interest mortgage (and what to do with the money instead!)

Putting your pension into your net worth calculation (and how it can get you closer to FIRE!)

Roth conversion ladders and the smart way to save significantly on taxes in retirement 

And So Much More!

Links from the Show

BiggerPockets Money Facebook Group

Network with Other Investors on The Path to FIRE Through the BiggerPockets Forums

Finance Review Guest Onboarding

Join BiggerPockets for FREE

Mindy on BiggerPockets

Scott on BiggePockets

Listen to All Your Favorite BiggerPockets Podcasts in One Place

Apply to Be a Guest on The Money Show

Podcast Talent Search!

Find an Investor-Friendly Agent in Your Area

Find Investor-Friendly Lenders

Property Manager Finder

Apply to Be a Finance Friday Guest

How to Access Retirement Funds Early

How to Estimate Capital Expenses On a Rental Property

See Mindy and Scott at BPCON2024 in Cancun!

Ramit Sethi’s Money Advice for Couples: Live a Rich Life, Together

00:00 Intro

02:19 Frugal Beginnings 

07:58 Big Retirement Goals 

13:48 Financial Snapshot 

14:50 Struggling to Spend Money?

24:18 Can We Retire in 12 Years?

36:45 A HUGE Extra Income Source 

45:46 Loosen Up Your Budget!

52:13 Retire Even Earlier? 

01:02:09 Emergency Reserves for Rental Properties 

01:07:51 Don't Get Caught in The Trap!

Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-543

Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email [email protected]

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Want a personalized financial independence plan that’ll get you closer to early retirement? Well, we’ve got just what you’re looking for! On this second annual “Financial Independence Day,” Mindy and Scott are sharing a new way to get you to financial freedom faster. With so many applications for our “Finance Friday” series, we decided to make a downloadable that allows you to do your own personal finance review AND build a faster path to FIRE!

But before you start filling out your financial independence plan, listen to this episode. We review some common traps and pitfalls that have stopped our Finance Friday guests from achieving financial freedom. We’ll explain exactly what each net worth bracket should focus on, how to get through the saving and investing “grind” to FIRE, and the biggest mistake most people make that will STOP them from ever finding financial independence.

Want to reach financial independence faster? Download the DIY Finance Friday document here, and if you want Mindy and Scott’s personalized suggestions, apply to be a Finance Friday guest! 

In This Episode We Cover

How to build your own plan for financial independence and reach early retirement faster

Coming up with your financial snapshot to see a complete picture of your net worth

The biggest opportunities to reach FIRE for different net worth brackets

The “middle-class trap” that will stop you from retiring early (even if you’re wealthy)

Getting through “the grind” and how to know you’re on the right path for FIRE

Whether building wealth comes through a “process” or a “single event,” and how to combine both

And So Much More!

Links from the Show

BiggerPockets Money Facebook Group

Network with Other Investors on The Path to FIRE Through the BiggerPockets Forums

Finance Review Guest Onboarding

Join BiggerPockets for FREE

Scott on BiggePockets

Listen to All Your Favorite BiggerPockets Podcasts in One Place

Apply to Be a Guest on The Money Show

Podcast Talent Search!

Find an Investor-Friendly Agent in Your Area

Find Investor-Friendly Lenders

Property Manager Finde

Apply to Be a Finance Friday Guest

BiggerPockets Money 426 - The New Path to Financial Independence is HERE

BiggerPockets Money 157 - The Money Date: What You Should (And Definitely Should Not) Do to Align Your Finances as a Couple

BiggerPockets Personal Finance Forum

Review Mindy’s Budget

See Mindy and Scott at BPCON2024 in Cancun!

Scott Trench’s Step-by-Step Guide to Building Your Perfect, 1-Page Investment Plan

00:00 Intro

01:59 FIRE for DIYers

04:45 Your Financial Snapshot 

15:25 Opportunities for FI

23:08 Avoiding the “Middle-Class Trap”

32:58 Getting Through The “Grind”

39:32 You NEED Both of These 

44:24 Changing Your Path to FIRE 

52:07 Happy FI Day!

Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-542

Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email [email protected]

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Student loan debt can easily get in the way of financial independence, especially if there’s a high interest rate attached to your loans. But should you pay down this debt at the expense of investing for the future? There are several factors we’re going to explore in today’s episode!

Lauren is a physician assistant with a stable W2 job, a house hack, and a side hustle that provides her with a little “fun” money each month. But as she and her partner work toward their goal of reaching FI in twenty years, they’ve got some money issues to work out—namely, how to tackle the $150,000 in student loans hanging over their heads. Should they pay down this debt, invest in real estate, or both? Should they put their retirement contributions on hold? One day, they hope to travel the world and enjoy their favorite pastime, kitesurfing! But should they fast-track this dream before planning for a family?

Lauren is at a crossroads in her journey to FI, and in today’s episode, Scott and Mindy will provide her with an actionable blueprint she can use to achieve her financial goals, career aspirations, and dream lifestyle. Along the way, you’ll learn when to prioritize aggressive debt paydown, how to strike the perfect investment portfolio mix, and important things to consider before starting a family!

Support today's show sponsor, BAM Capital, your path to generational wealth with premier real estate investment opportunities! 

In This Episode We Cover

When to pay down student loan debt rather than invest in real estate

Why buying rental property today will leave you with more cash flow in retirement

How to financially plan for weddings, honeymoons, children, and other BIG expenses

Paying off your primary residence versus buying MORE rental properties

How to improve asset allocation with a mix of rentals and retirement accounts

And So Much More!

Links from the Show

BiggerPockets Money Facebook Group

Network with Other Investors on The Path to FIRE Through the BiggerPockets Forums

Finance Review Guest Onboarding

Join BiggerPockets for FREE

Mindy on BiggerPockets

Scott on BiggePockets

Listen to All Your Favorite BiggerPockets Podcasts in One Place

Apply to Be a Guest on The Money Show

Podcast Talent Search!

Find an Investor-Friendly Agent in Your Area

Find Investor-Friendly Lenders

Property Manager Finder

See Scott and Mindy at BPCON2024 in Cancun!

BiggerPockets Money - Episode 35: Hacking Your Life to Live for (Almost) Free with Craig Curelop

BiggerPockets Money - Episode 514: How to “Travel Hack” Like a Pro and Get FREE Flights, Hotel Stays, and More!

00:00 Intro

01:25 Financial “Wellness”

07:01 Lauren’s Money Snapshot

15:51 MAJOR Career Decisions

22:15 FI in 20 Years (or Fewer!)

27:53 Paying Off $150K Student Loans

36:07 Weddings, Honeymoons, & Kids

44:55 Kitesurfing & Traveling the World!

57:39 Pay Down the Mortgage?

01:02:54 Enjoy Life AND Build Wealth!

Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-541

Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email [email protected]

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Renting vs. buying a house: when it comes to FIRE, many people assume that you must own a home and preferably have it paid off to reach financial freedom. But is this really true? With renting so much cheaper than buying in 2024, would it be wiser to rent a place and send the savings to your investment accounts? Today, we’re tackling this topic and a few other heavy hitters as we give our takes on four of the hottest financial headlines.

Kyle Mast, certified financial planner, joins Scott Trench to share FIRE-first thoughts on these not-so-easy-to-answer questions. First, we give our take on the ever-relevant renting vs. buying debate and ask whether things have changed since high mortgage rates have made buying a home much more expensive. Then, how do you manage savings and investments with interest rates so high—should you keep your money in a high-yield savings account or search for better opportunities even with savings yields so high?

Think your nest egg is a little too light? We share the average 401(k) balance for those close to retirement and give our strategies to boost retirement savings before you leave full-time work. Finally, for those struggling to take care of elderly parents, our last headline is for you. We talk about the growing number of Americans physically, mentally, andfinancially caring for aging parents and how you can set yourself up in the best position possible to care for those in your life.

In This Episode We Cover

Buying vs. renting a house in 2024 and whether homeownership is required for FIRE

The best housing investments you can make to propel your net worth and savings rate

Saving and investing during higher interest rates and the type of “opportunities” you must be looking out for

The shocking average 401(k) balance and what you can do to increase income in retirement

How to ensure your children DON’T have to financially care for you in your old age

And So Much More!

Links from the Show

BiggerPockets Money Facebook Group

Network with Other Investors on The Path to FIRE Through the BiggerPockets Forums

Finance Review Guest Onboarding

Join BiggerPockets for FREE

Scott on BiggePockets

Listen to All Your Favorite BiggerPockets Podcasts in One Place

Apply to Be a Guest on The Money Show

Podcast Talent Search!

Find an Investor-Friendly Agent in Your Area

Find Investor-Friendly Lenders

Property Manager Finde

Renting is Increasingly Cheaper Than Buying a Home

How to manage retirement savings with interest rates remaining elevated

This Is the Average 401(k) Balance for Ages 55 to 64

When Caring for Your Parents Comes at a Cost to Your Career

See Scott at BPCON2024 in Cancun!

Grab the Book, “First-Time Home Buyer”

Hear Our Episodes with “Catching Up to FI”:

BiggerPockets Money 537 - Late Start, Early Retirement: A Step-by-Step Guide to Get On Track to FI

BiggerPockets Money 538 - Late Start, Early Retirement: The Huge Advantages of Investing Later in Life

00:00 Intro

01:57 Renting vs. Buying a House

10:49 Best Home Purchase for FI?

13:35 Saving and Investing with High Rates

25:05 Average 401(k) Balance 

33:02 Caring for Elderly Parents 

Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-540

Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email [email protected]

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Want to retire early? You don’t have to wait until age sixty-five. With a few cash-flowing assets and smart money moves, you could accelerate your path to retirement and enjoy your riches much sooner than you thought possible!

Welcome back to the BiggerPockets Money podcast! Derek has worked hard to build a $1.7 million net worth and a portfolio of six rental properties. The only problem? He wants to retire at age fifty. In this episode, Mindy and expert investor David Greene from the BiggerPockets Real Estate podcast work together to get Derek on the fastest path to early retirement. If he plays his cards right—redeploying some of his “lazy” home equity, increasing his cash flow, and starting a profitable business or side hustle—he could reach FIRE in just seven years!

Are you wary of today’s sky-high mortgage rates? We share an investing strategy that allows you to buy real estate notes at a deep discount and potentially acquire properties that are worth so much more! You’ll also learn how to use your 401(k) retirement funds today without incurring tax penalties. Finally, you’ll hear about the power of starting a business and reinvesting your profits!

Support today's show sponsor, BAM Capital, your path to generational wealth with premier real estate investment opportunities! 

In This Episode We Cover

Creative money strategies that will fast-track your path to early retirement

How to leverage your 401(k) retirement funds today without tax penalties

Boosting your cash flow by converting properties into short-term rentals

How to start a business with low money (and where to reinvest your profits!)

How to (potentially) acquire valuable rental properties at a HUGE discount

When you should hire someone to help manage your real estate portfolio

And So Much More!

Links from the Show

BiggerPockets Money Facebook Group

Network with Other Investors on The Path to FIRE Through the BiggerPockets Forums

Finance Review Guest Onboarding

Join BiggerPockets for FREE

Mindy on BiggerPockets

Scott on BiggePockets

Listen to All Your Favorite BiggerPockets Podcasts in One Place

Apply to Be a Guest on The Money Show

Podcast Talent Search!

Find an Investor-Friendly Agent in Your Area

Find Investor-Friendly Lenders

Property Manager Finder

How to Access Retirement Funds Early

Check Out J Money’s blog, “Budgets Are Sexy”

Check Out Nick Loper’s podcast, “The Side Hustle Show”

Hear David on the "BiggerPockets Real Estate" Podcast

BiggerPockets Money - Episode 443: The Entrepreneur’s Guide to FI: A Day in the Life of a Finance Blogger

BiggerPockets Money - Episode 520: The BEST Side Hustles You Can Start in 2024 (Outside of Real Estate!)

00:00 Intro

01:45 $1.7M Net Worth!

10:20 Derek’s Money Snapshot

18:26 7 Years to FIRE

29:37 Moving “Lazy” Equity

39:42 Note Investing 101

48:45 Starting a Business

Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-539

Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email [email protected]

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Are you a late starter who wants to reach retirement (or early retirement)? Then we’ve got just what you need! We’re back with Bill Yount and Jackie Cummings Koski from the Catching Up to FI podcast as we share how to invest for retirement as a “late starter.” Did you know there are some serious advantages to investing later in life? Some of these advantages are so secret that even our hosts didn’t know about them! But today, we’re sharing them with you so you can achieve financial freedom on your terms!

From top to bottom, we’re sharing everything you need to retire sooner—from the best retirement accounts to debating 401(k)s vs. Roth IRAs vs. HSAs and more! Worried about healthcare if you retire before you turn sixty-five? DO NOT put your retirement plans on pause because of this! With some smart healthcare saving and investing, you won’t have to worry about visits to the doctor’s office!

But before you start investing, we need to get your spending in check. Bill shares how he went from paycheck to paycheck to exploding his savings rate by “downsizing” his spending, which makes reaching financial independence even easier! If you’re ready to retire, stick with us and follow these steps to a tee if you want to be financially free!

Missed part one? Listen to it here!

Support today's show sponsor, BAM Capital, your path to generational wealth with premier real estate investment opportunities! 

In This Episode We Cover

How much do you need to retire? Here’s the exact calculations we use

The best retirement accounts to invest in that have substantial tax advantages

Social Security and whether or not you can plan on receiving it when you retire 

The “triple tax benefit” healthcare account that you’ll wish you knew about sooner

How to “downsize” your life so you can invest more and retire faster 

“Catch up” retirement investing and the investment accounts that late starters must take advantage of

401(k)s vs. Roth IRAs vs. HSAs: Which should you invest in first?

And So Much More!

Links from the Show

BiggerPockets Money Facebook Group

Network with Other Investors on The Path to FIRE Through the BiggerPockets Forums

Finance Review Guest Onboarding

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Mindy on BiggerPockets

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Property Manager Finder

Finance Friday: How to Get to Early Retirement Even Faster

BiggerPockets 422 - The Late Starter’s Guide to Financial Independence (Even in Your 50s!) w/Bill Yount

BiggerPockets Money 527 - Retired at 49 on an Average Salary after Getting a “Late Start” to FIRE w/Jackie Cummings Koski

Want to Be a Guest on the BiggerPockets Money Show? Apply Here

Catching Up to FI Podcast

HSA – The Ultimate Retirement Account

Open Social Security

The Shockingly Simple Math Behind Early Retirement

00:00 Intro

01:19 Create a Simple Plan

04:58 How Much Do I Need to Retire?

09:18 What About Social Security? 

16:27 Reducing Your Expenses

19:59 Healthcare and HSAs

33:28 Best “Catch Up” Investments 

38:31 Roth vs. HSA vs. 401(k) 

47:34 Investing Beyond Retirement Accounts 

49:38 It’s NEVER Too Late! 

Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-538

Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email [email protected]

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See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.