222: Finance Friday: Are You Too Over-Diversified In Your Investments?

BiggerPockets Money Podcast

BiggerPockets

Education, Investing, Business

4.5 • 3K Ratings

🗓️ 13 August 2021

⏱️ 94 minutes

🔗️ Recording | iTunes | RSS

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Summary

Investments galore! This week, we talk to Jeana and Scott, a couple with a hefty amount of investments under their belt. We know what you’re thinking, “what type of stocks and real estate are they investing in?” This is where you might be surprised. Jeana and Scott are investing in three gyms, a gas and oil investment, a documentary, a 24-unit apartment building, a 52-unit apartment building, a senior care business, and...a $20,000 dog! Seriously! This is one of the most diversified couples we have ever had on the show! While it’s great to have investments spread out over multiple different asset classes, Scott and Mindy want to help the couple come up with a more systematized and formulaic approach to wealth building. Since they both have well-paying jobs, once they set up a “set it and forget it” type investment strategy, they won’t be too far away from reaching FI. If you’ve ever had an interest in running a memory care facility, dog breeding, or investment clubs, this will be a great episode to listen in on! In This Episode We Cover Diversifying your investments into multiple different asset classes Knowing which investments are likely to make a return and planning for those that won't Setting up a system for wealth creation so you can develop an early retirement plan Investing in multifamily real estate like apartment buildings and senior living homes Using government benefits to maximize wealth as quickly as possible Investing in an Airbnb property and which markets make the most sense for it And So Much More! Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Welcome to the Bigger Pockets Money Podcast, show number 222, Finance Friday edition,
0:05.6	where we interviewed Gina and talk about creative investments.
0:10.0	The only thing I've learned from him financially, he never told me about money, but he was very
0:14.4	frugal and it's something I can't really go off to this day, just being super frugal.
0:21.9	Yeah. The only thing I really want to spend money towards is investments.
0:27.1	It's like I do want to track, but I don't know, I rather buy another investment.
0:33.2	Hello, hello, hello, my name is Mindy Jensen and with me as always,
0:36.5	is my definitely surviving a zombie apocalypse co-host, Scott Trench.
0:41.0	It wasn't too hard, Mindy, they were all vegan zombies in search of grains,
0:47.0	not the other thing, so I was in good shape. Mindy liked that one.
0:52.1	I'm tired, that was hilarious.
0:55.6	Okay, Scott and I are here to make financial independence less scary,
0:59.5	less just for somebody else. To introduce you to every money story because we truly believe
1:04.3	that financial freedom is attainable for everyone, no matter when or where you're starting.
1:09.3	That's right, whether you want to retire early in travel world, go on to make big
1:12.4	time-in-it investments in assets like real estate, start your own business, or invest in 30,
1:17.7	venture capital type things one by one over the course of years. We'll help you
1:22.5	reach your financial goals and get money out of the way as you can launch yourself towards your dreams.
1:31.3	You know, Scott, that's interesting that you say that. 30 venture capital programs.
1:36.0	I think that they're not quite at 30, but they're getting pretty close.
1:39.6	Scott and Gina, not Scott Trench, Gina and her husband, Scott, join us today to talk about
1:47.1	creative investments. Boy, oh boy, do they have some very creative investments? Some that I have
	...

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