467: Switching Jobs, Becoming a Landlord, and Investing vs. Paying Off Debt

BiggerPockets Money Podcast

BiggerPockets

Investing, Education, Business

4.6 • 2.9K Ratings

🗓️ 10 November 2023

⏱️ 42 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Switching jobs is a HUGE career decision that impacts not only your finances but also your schedule, quality of life, and more. When is changing jobs the right move, and what are the different factors at play? Today, our hosts will show you what to do when faced with such a big decision! Welcome back to the BiggerPockets Money podcast! In this episode, Mindy and Kyle are fielding some of your top questions. In addition to changing jobs, they discuss 401(k) investing strategies—including how to handle accounts from previous employers and how to set up your own solo 401(k)! They also talk about what to expect as a first-time landlord and all of the different tax benefits and liabilities that come along with the job. Plus, what you should do if your tax professional makes a dreaded error. Finally, they offer some timely investing advice that will help you navigate the current economic climate. Amidst inflation and high mortgage rates, should you invest in the stock market, pay off your debts, or go another route entirely? Stay tuned to find out! If you want Mindy and Kyle to answer a money question, you can submit a question here or post it in the Money Facebook Group! In This Episode We Cover Leaving your job for a higher-paying one (and when it’s best to stay put!) How to handle your old 401(k) accounts and set up a solo 401(k) Tax benefits and liabilities you MUST know as a first-time landlord What to do when your tax professional makes a COSTLY error Investing in the stock market versus paying off debt (and how to get the best rate of return) And So Much More! Links from the Show BiggerPockets Money Facebook Group BiggerPockets Forums Finance Review Guest Onboarding Join BiggerPockets for FREE Mindy on BiggerPockets Listen to All Your Favorite BiggerPockets Podcasts in One Place Apply to Be a Guest on The Money Show Podcast Talent Search! Money Moment What to Do Before You Quit the High-Pay & Benefits of Corporate World Finance Friday: I Want to Cash Out My 401k Early, Should I? Click here to check the full show notes: https://www.biggerpockets.com/blog/money-467 Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Email us: [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

Click on a timestamp to play from that location

0:00.0	Welcome my dear listeners to the Ficker Pockets Money Podcast where we answered listener questions today.
0:05.8	We're going to discuss 401k's being a first-time landlord, potentially switching jobs, taxes,
0:12.3	and investment strategies.
0:14.4	Hello, hello, my name is Mindy Jensen, and with me today is ACFP, but not your CFP, Kyle Mast.
0:22.0	Hello, Mindy, how you doing?
0:24.0	I am doing fantastic today, Kyle.
0:26.0	It's so lovely to see you again.
0:28.0	It's good to be here and these are always fun shows where we get to kind of go through some questions here that just come off of the groups that big reposter tas and hopefully they can give some insight to a whole bunch of different people as we go through them.
0:41.0	Today, Kyle and I are here to make financial independence less scary.
0:45.4	Less just for somebody else.
0:47.4	To introduce you to every money story,
0:49.6	because we truly believe financial freedom is attainable for everyone no matter when or where
0:54.0	you're starting.
0:55.1	Whether you're looking to retire early, travel the world, go on to make some big-time investments
0:59.3	like real estate, or just start your own business, will help you reach your goals and get money
1:04.6	out of the way so that you can launch yourself towards whatever your dreams are.
1:08.0	Now it's time for the segment of our show called The Money Moment where we share a
1:12.1	money hack tip or trick to help you on your financial
1:15.4	journey. Today's Money Moment is provided by Enago. Find out why Enago is the number
1:20.8	one rated property management software.
1:23.0	As an exclusive offer to Bigger Pocket listeners,
1:25.0	you'll get $25 for using Enago at Inago.com
	...

Please login to see the full transcript.

Previous episode | Next episode

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.