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BiggerPockets Money Podcast

101: Building a Life of Financial Independence, Starting From Less Than Zero with Sunitha Rao

BiggerPockets Money Podcast

BiggerPockets

Investing, Education, Business

4.53K Ratings

🗓️ 2 December 2019

⏱️ 59 minutes

🧾️ Download transcript

Summary

Sunitha Rao remembers a childhood of scarcity. Born to immigrant parents, some of her first memories are of her home being broken into, and her things being stolen. The only money lessons she was taught as a child were frugality and saving, because you never knew what was going to happen. Her father had grand tennis plans for her, and pushed her into tennis. By age 9, she was playing tennis six hours a day. School was so low on the priority list she dropped out in 6th grade to pursue tennis full time. She turned pro at age 14, but all the money she made went back into her career: coaches, travel to events, more training. When Sunitha retired from tennis, she had nothing left. She estimates she “maybe had $1000 in the bank.” Her relationship with her father was so abusive, she sought a restraining order against him and started over, rebuilding her life at age 23. Starting off at community college, looked up endowment programs in Boston because she liked the city, and reached out to colleges that offered scholarships. Finishing college she got a corporate job, which was her goal - until she started working there. She realized her corporation didn’t have any loyalty toward her, so she started looking for ways to generate income outside of her salary and discovered real estate. She now owns multiple units in the midwest, and is on the path to financial independence, starting with nothing but a 6th grade education at age 23. If you’re thinking you started too late, Sunitha’s story shows that financial independence is possible - at any age. In This Episode We Cover: Sunitha's journey with money On having a scarcity mindset around money How she turned into a professional tennis player at age 14 What happened to her money being a professional tennis player Wanted to succeed in the corporate world Her journey at a community college How she found endowment programs Pros and cons about going to college at different age bracket Her highs and lows point being a professional tennis player What realization that sparks her journey to financial independence Had their house governed by domestic abuse Believed on being diversified Started real estate business at Indianapolis What her goals going forward On domestic and financial abuse How did she leave from a domestically violent relationship And SO much more! Links: BiggerPockets Forums The Domestic Violence Hotline - 1-800-799-SAFE GRIFFIX Property Group Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

Welcome to the BiggerPockets Money Podcast show Number 101 with Sunnitha Rao.

0:06.2

Once I found a new job, I started researching everything I could about personal finance and that's where

0:10.8

things got a little bit challenging initially because when we talk finance and we talk money

0:14.4

It's like this giant umbrella of everything. There's so many things you can do and it's really overwhelming

0:19.5

It's time for a new American dream one that doesn't involve working in a cubicle for 40 years, barely scraping by.

0:26.5

Whether you're looking to get your financial house in order, invest the money you already have, or discover new paths for wealth creation, you're in the right place.

0:35.0

This show is for anyone who has money or wants more.

0:38.0

This is the Bigger Pocket's Money Podcast.

0:40.0

How's it going to everybody? I'm Scott Trench and I'm here with my co-host Mindy Jensen. How are doing today, Mindy? How you doing today, Mindy?

0:45.0

Scott, I'm doing really, really well today.

0:48.0

How are you today?

0:49.0

I'm doing fantastic.

0:50.0

Wow, is Seneththa just awesome.

0:53.0

What I mean what an incredible story from you know all these different she's had an amazingly diverse career and set of life experiences that I think make her story incredibly inspiring and relatable,

1:05.4

no matter where you are on your money journey I think you're going to have a lot to learn from

1:08.9

Sunny today.

1:09.9

Yeah, she has like seven different lives crammed into one existence.

1:15.0

And something that we talk about near the end of the show is domestic abuse and

1:22.0

financial abuse.

1:23.2

And this show, I wanted to point this out

1:26.8

at the beginning of the show

1:27.9

because it could maybe be a trigger

...

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