How to Retire Early in 7 Years (or Less!)
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- Опубликовано: 8 июл 2021
- Wondering how to retire early? Today we talk to Kirsten, a new graduate who has a great job, low expenses, and a plan to house-hack so she can start building serious wealth! Kirsten is wondering whether or not she should pause her retirement contributions so she can save more for her down payment.
While this may seem counterintuitive, pausing retirement contributions isn't always a bad thing. This is especially true if you’re trying to do something that will radically change your income or lower your expenses, allowing you to invest more into retirement later on.
This episode runs through house hacking, retirement contributions, FHA rules for owner-occupied loans, how to graduate with no debt, and when the best time to have a “money date” is. It doesn’t matter if you’re in your early 20s or mid-40s, these principles are key to having a financially successful life!
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HSA: The Ultimate Retirement Account 👇
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Scott’s House Hack vs. Buy SFR vs. Rent Spreadsheet
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The Money Date: What You Should (And Definitely Should Not) Do to Align Your Finances as a Couple:
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Hacking Your Life to Live for (Almost) Free with Craig Curelop
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Episode #212
Show notes at: www.biggerpockets.com/moneysh...
You could take the base dollars out of a Roth anytime for any reason there's just more restrictions on the gains
She is such an amazing person. My daughter is non verbal autistic also. It terrifies me to think about her without me. So my plan is to have enough insurance to do the 4 percent rule, At least untill I house hack my way to FI.
Awesome discussion. Thank you Kirsten for opening up and sharing your amazing plan! House hacking is such a powerful strategy. It would be great if Scott and Mindy could do a follow on episode in a year or so to see just how far Kirsten has progressed.
This was a great episode. Thank you, Kirsten!
Excellent advice to Kristin! It is always nice to see a focused, young investor. Best of luck on your journey to financial freedom!
Max out your ROTH and HSA every year. Can you talk more about types of life insurance and companies you recommend for term life insurance?
I got 2 Associate Degrees free with my state's hope scholarship which requires a 3.0 GPA in high school. And I worked in my school's admissions office filing papers and keeping track of applications and test scores. I lived off campus because I had kids, so the work study paid my rent and light bill.
It would be awesome if you would do a session on financial planning for people who are disabled and don't have the ability to work 2 jobs, or even one whole job.
I mean, what kind of special advice are you looking for? Basic financial advice is the same for everyone and everyone has different barriers to work around. Invest what you can in low cost index funds or target date funds as soon as possible. Make extra money any way you can handle or are interested in. They have so many videos bc it’s impossible to make one video that accounts for everyone’s abilities and experiences and desires. Laws around disability/social security can vary. As they said in this video, she can afford to make some moves that those with kids or other responsibilities cannot. Some disabled folks can do remote work or part time work just fine, some cannot. Some ppl have the ability to house hack, while some don’t. Some live in higher COL places than others. Learn what you can from the many differing stories on all these videos and apply the bits that apply to you. Speak to a fiduciary financial planner if you need specific advice.
Any follow up of her today! I feel like she did great🎉
House-Hack for the win!
In response to the intro, unicorn blood is silver. So he was almost right lol
She will clearly be a millionaire by 30. Smart and very sweet Texan
Maybe she's going to be on Forbes Millionaires before 30 edition :D
Stop drooling
Did he say "shit like that" at around the 10:00 mark?
Yes!
Nice 🙋👏👌🥰😘👍👌👌👌😍💕💗
Unless she gets her income up way higher, she wont be FI at 30, more like 40