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BiggerPockets Money Podcast

320: Finance Friday: How to Invest When the 20-Year Grind Pays Off

BiggerPockets Money Podcast

BiggerPockets

Investing, Education, Business

4.5 • 3K Ratings

🗓️ 22 July 2022

⏱️ 67 minutes

🧾️ Download transcript

Summary

Retirement strategies range from simple index fund investing all the way to full-on real estate development deals. What works for some investors won’t work for others. What’s most important to you is knowing what will or won’t work for your lifestyle. Some workers can easily do a couple of fix and flips on the side to generate income, while you may have a sixty-hour workweek, without a lot of free time to start investing in more intense asset classes. Chris feels just like this. As a working professional with a hectic schedule, he's concerned that he can’t participate in more “active” income-generating projects like real estate investing. He's been grinding for decades, making decent money but funneling much of it to pay off expensive student loan bills. When his wife sold her business, an unexpected windfall profit resulted, leaving the couple with more options than they thought. Now they want to “back into retirement” as easily as possible, while still making wealth-building moves. What’s the best option for them? Stocks, real estate, or focusing on work so they can build a large cash reserve? While Scott and Mindy can’t answer this question for him, Chris is presented with a few good options that’ll help him become a multimillionaire in only a few short years. In This Episode We Cover Buying and selling a business, plus some lucrative exit options for when you decide to sell Short-term rental investing and why big profits usually come with big-time commitments The “perfect” retirement portfolio and how to build your assets around your lifestyle Planning for your child’s college and how to invest risk-free while taking tax-advantages Whether to invest in pre or post-tax retirement accounts when you’re coming close to retirement age Serious side hustles that’ll help you achieve the “four-week work year” And So Much More! Links from the Show BiggerPockets Money Facebook Group BiggerPockets Forums Finance Review Guest Onboarding Scott's Instagram Mindy's Twitter Listen to All Your Favorite BiggerPockets Podcasts in One Place Apply to Be a Guest on The Money Show Podcast Talent Search! Subscribe to The “On The Market” YouTube Channel Listen to The “On The Market” Podcast: Spotify, Apple Podcasts, BiggerPockets Check Out Mindy’s 2022 Live Spending Tracker and Budget Finance Friday: How to Get to Early Retirement Even Faster The “Perfect” Investment Portfolio for Early Retirement w/Ask The Money Coach Bonds: The Perfect Inflation Hedge (with One BIG Caveat) Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Check out our sponsor page! 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,

0:02.0

show number 320, Finance Friday Edition,

0:05.0

where we interview Chris and talk about zooming out

0:08.0

three to five years and thinking about your future portfolio.

0:11.0

I'll tell you what I'm more challenged with than the leverage

0:14.0

is the time commitment needed to do it properly and do it effectively.

0:18.0

And we listen to the Bigger Pockets,

0:20.0

real estate podcast, we listen to the rookie podcast.

0:23.0

I have struggled with time management

0:27.0

with all the different balls we have in the air right now.

0:30.0

Hello, hello, hello, my name is Mindy Jensen

0:32.0

and with me as always is my Costco clothing wearing coho Scott Trent.

0:36.0

That's right Mindy, my entire wardrobe is from Costco, except for my shoes.

0:41.0

Tip to toe, well, head to toes, right? Scott?

0:44.0

Socks?

0:45.0

Ha ha ha!

0:47.0

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

0:51.0

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

0:55.0

because we truly believe financial freedom is attainable for everyone,

0:58.0

no matter when or where you're starting.

1:00.0

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

1:02.0

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

...

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