353: Ask the Money Experts: Debt, Diversification, Retirement, and Real Estate

BiggerPockets Money Podcast

BiggerPockets

Education, Investing, Business

4.5 • 3K Ratings

🗓️ 14 November 2022

⏱️ 63 minutes

🔗️ Recording | iTunes | RSS

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Summary

What should retirement planning look like? How can I invest if I am still paying off student loan debt? What makes a perfectly diversified portfolio? And when is the right time to pay off my rental properties? We went to the BiggerPockets Money Facebook Group to ask what you would like to know from a money expert. And thankfully, we found a couple of them who are friends of the show. Amanda Wolfe and Kyle Mast are here to answer some of your most-asked money questions! Amanda Wolfe was recently a guest on the BiggerPockets Money Podcast, sharing her story of reaching financial freedom after going through serious financial struggles and childhood poverty. Kyle Mast, Certified Financial Planner, has recently “retired” after helping his clients reach their financial goals with minimal stress and maximum freedom. They’re helping Mindy on today’s show to take questions directly from listeners about everything ranging from real estate to retirement planning and never feeling like you have enough. If you’ve struggled not knowing how to pay down debt, how much cash to have on hand, or are having a mental block when switching from saving to spending mode, this episode could alleviate your worries. If you’d like to get more connected with the BiggerPockets Money community and potentially get your questions answered on a future show, be sure to join the BiggerPockets Money Facebook Group! In This Episode We Cover How to invest while paying down student loan debt, or any other debt for that matter Transitioning from saver to spender when you have enough to finally retire Real estate vs. index funds and which is more optimal for a post-retirement portfolio Roadblocks on the way to financial freedom and why you DON’T need retirement accounts to invest for retirement What a diversified portfolio looks like (it’s much simpler than you think) Money moves to make if you don’t have much cash, but do have consistent income And So Much More! Links from the Show Find an Investor-Friendly Real Estate Agent BiggerPockets Money Facebook Group BiggerPockets Forums Finance Review Guest Onboarding 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 Episode 200 Special: A Personal Finance Masterclass with Kyle Mast How to Find the Best Possible Certified Financial Planner (CFP) for Your Needs with Kyle Mast She Wolf of Wall Street Website From Extreme Poverty to DIY Wealth and 2 Full-Time Incomes w/The She Wolfe of Wall Street Click here to check the full show notes: https://www.biggerpockets.com/blog/money-353 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 where we are answering your money questions with Kyle
0:05.8	Mast and Amanda Wolfe, the She Wolf of Wall Street. But one of the best things you can do is maybe
0:10.4	transition at your current job. If you're a valuable employee, a lot of employers would love to have
0:15.7	you for a year or two in a part-time capacity where they don't have to pay you benefits, but you still
0:20.5	get paid really well. And then now you're able to kind of watch your budget for a year or two as
0:26.5	you're in part-time. Maybe what you're making almost covers it and you can pull some out of your
0:31.4	investments or your real estate properties. But this is kind of like a trial run to give you a sense
0:36.7	of how things look and it's not so scary. Hello, hello, hello, my name is Mindy Dunsett and joining
0:42.7	me today in the host seat for the first time is the She Wolf of Wall Street, Amanda Wolfe,
0:48.4	and back for another round is Kyle Mast, C.F.P. We're here to make financial independence less
0:54.8	scary, less just for somebody else. To introduce you to every money story because we truly believe
0:59.5	financial freedom is attainable for everyone, no matter when or where you're starting. Whether you
1:04.0	want to retire early and travel the world, go on to make big-time investments in assets like
1:08.0	real estate or start your own business. We'll help you reach your financial goals and get money
1:12.8	out of the way so you can launch yourself towards your dream. Okay, before we get to the show,
1:16.9	let's hear a word from today's show sponsors. Owning real estate is great, until you have to
1:21.6	have a tenants, unclog toilets, and hunt down late rent checks. This is why passive investors are
1:26.4	pulling their capital into multifamily syndications. So together they can buy bigger, better deals
1:31.1	with far fewer headaches. But which syndication should you trust, BAM Capital? This vertically
1:36.1	integrated company has historical realized returns of over 30% IRR, over 152 million dollars in
1:43.4	distributions paid today, and over 1,000 investors across 40 states. BAM Capital focuses on institutional
1:49.9	quality apartment communities located in the Midwest, offering the most consistent rent growth
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