113: Single Hourly Employee with No College Degree and STILL FI by 40 with Bianca DiValerio

BiggerPockets Money Podcast

BiggerPockets

Investing, Education, Business

4.6 • 2.9K Ratings

🗓️ 24 February 2020

⏱️ 88 minutes

🔗️ Recording | iTunes | RSS

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Summary

This week we sit down with Bianca DiValerio, a flight attendant who makes an hourly wage, has no college degree, experienced THREE short sales during the economic downturn, and yet is STILL financially independent—all before turning 40. How did she do it? She saved her money. She didn’t spend it on things that didn’t matter to her. There is literally NO secret sauce to her story. In fact, she thought she had her future planned out! She had purchased three rental properties to provide a stream of passive income—only to lose them to short sale when unexpected special assessments of $5,000 each became too much for her to afford. And yet, she saved her money. She didn’t spend it on things that didn’t matter to her. And she dug herself out of the financial hole that the short sale pushed her into. She pulled herself back up and started her nest egg over, saving enough to pay cash for a unit in the same building, so she’d never lose her home again. She’s turned that into a rental, lives in a caboose five months out of the year (yes, a TRAIN CABOOSE), and while she has enough money to never HAVE to work again, she enjoys her job, can literally choose when she works, and is living her best life. Bianca is proof that you can recover from an unplanned financial catastrophe, thrive, and STILL reach financial independence—all before you turn 40. You just have to follow the proven path to financial freedom. In This Episode We Cover: Bianca's journey with money How she avoid on having debt The problem with not having a college degree What happened after she got her job as a flight attendant How she got into real estate Her thoughts on investment The importance of having cash reserves Her credit score after her three short sales The moment she came across the FIRE movement Her experience living in a train caboose Reasons to not quit your job And SO much more! Links from the Show BiggerPockets Forums BiggerPockets Money Facebook Group BiggerPockets Money Survey Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Welcome to the Bigger Pocket's Money Podcast, show number 113, where we interview Bianca de Valerio
0:06.3	and get her story of reaching financial independence on her own without a college degree or a high-flying
0:11.3	salary. We'll also talk about her setbacks on
0:13.7	her journey including short sales of the properties she thought were going to
0:17.4	support her in her retirement. So this came up the other day actually I was at
0:21.2	dinner with my parents and my grandparents and they were talking about my sister's obsession with horses and I looked at my mom and said was I ever obsessed with anything and she said the only thing you've ever wanted your whole life was money, which is really strange.
0:34.0	At four years old I was selling door-to-door newspapers and wrapping paper just to make money,
0:40.4	but I had no reason for money.
0:41.9	It's not like my parents were making me buy my own food or anything. So I don't know where it came from that it's always been there and I shouldn't say it's an obsession, but it was something I felt I needed for some reason.
0:53.0	Hello, hello, hello, my name is Mindy Jensen and with me as always is my astounding co-host,
0:58.0	Scott Trench.
0:59.0	Scott and I are here to make financial independence less scary, less just for somebody else, and show you
1:05.2	that by following the proven steps, you can put yourself on the road to early financial freedom
1:10.1	and get money out of the way so you can lead your best life.
1:14.0	Wherever you are in your financial or life journey,
1:16.0	you can begin rapidly moving towards the position capable of generating a great income,
1:20.0	saving a huge percentage of that income,
1:22.0	and setting yourself up to make larger and larger investments on your way to financial freedom.
1:26.0	Whether you want to retire early and travel the world, go on to make big time investments in assets like real estate or start your own business will help you build a financial
1:33.9	position capable of launching yourself towards your dreams.
1:40.0	Scott, I'm super excited to have Bianca on the show today.
1:42.4	Did you hear me just a moment ago?
	...

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