meta_pixel
Tapesearch Logo
Log in
BiggerPockets Money Podcast

206: Finance Friday: The 7-Step Plan to Financial Freedom

BiggerPockets Money Podcast

BiggerPockets

Education, Investing, Business

4.5 • 3K Ratings

🗓️ 18 June 2021

⏱️ 86 minutes

🧾️ Download transcript

Summary

For most people, there tends to be a specific point in your life when you think, “I want to travel” or “I want to spend time pursuing my passions”. For today’s guest Ainsley, this happened about two years ago. She has spent the last decade or so being a stay-at-home mom, but is looking to up her household income by getting a job that will provide an extra $36,000 a year to the family budget. Her main question: what should this extra income be used for? Mindy and Scott come up with a step-by-step approach to hit financial freedom, even if you don’t have a large amount of cash or investments. Lucky for Ainsley, her home in the Pacific Northwest appreciated close to $150,000 in just the past year alone! Plus, she also has retirement accounts that she and her husband actively contribute to. While they’re doing many things right, they could improve on some simple things like boosting their emergency fund, starting an HSA, contributing to a Roth IRA, and getting their income up as much as possible. This is a great episode for those who don’t want to get into real estate, and instead would rather have passive investments growing on the side! In This Episode We Cover Mindy and Scott’s 7-step plan to hit financial freedom  The importance of keeping a healthy emergency fund (and where to store it) The pros and cons of taking out a HELOC on your primary residence  Always getting the 401(k) match whenever presented with one ESPPs (employee stock purchase plans) and how to take advantage of them  Roth IRAs, Roth 401(k)s, and other tax-deferred accounts Investing in a regular brokerage account once you have maxed out retirement  And So Much More! Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

Click on a timestamp to play from that location

0:00.0

Welcome to the Bigger Pockets Money Podcast, show number 206 Finance Friday edition,

0:05.4

where we interview Ainsley and talk about investment strategies.

0:09.5

I actually went to Barnes & Noble looking to sell our second home,

0:15.2

like, you know, get geared up and then I found Bigger Pockets.

0:18.7

And then I read your book, I got from the library, I checked it out the library,

0:23.9

and that's when I learned about living on half.

0:26.4

And it just, you know, where your brain is like, oh my gosh, I've been conditioned.

0:32.0

Hello, hello, hello, my name is Mindy Jensen and with me, as always,

0:35.2

is my straight to the point co-host, Scott Trech.

0:38.3

Oh, thank you, Mindy. I have a joke about a, uh, uh, a, a joke about a pencil,

0:41.7

but it's kind of pointless, so I'll move on from that one.

0:44.8

Well, dull too.

0:48.2

Scott and I are here to make financial independence less scary,

0:51.5

less just for somebody else, to introduce you to every money story,

0:55.2

because we truly believe that financial freedom is attainable for everyone,

0:58.6

no matter where or when you're starting.

1:01.1

That's right. Whether you want to retire early and travel the world,

1:03.4

go on to make big-time investments in assets like real estate,

1:05.9

start your own business, or back into a retirement about exactly 10 years from today,

1:11.8

we'll help you reach your financial goals and get money out of the way,

1:14.4

so you can launch yourself towards those dreams.

1:18.6

Scott, I am really, really excited for Ainsley's story, because

...

Please login to see the full transcript.

Disclaimer: The podcast and artwork embedded on this page are from BiggerPockets, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of BiggerPockets and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.

Copyright © Tapesearch 2026.