How to Hit FIRE Before 45 by Building a SERIOUS Side Hustle
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- Опубликовано: 27 июл 2024
- Want to hit FIRE? You’ll need a smart side hustle. We’re talking about income-doubling, cash-printing, serious side businesses that will allow you to leave your job and grow a substantial income stream, so you can invest the rest and reach the early retirement you’ve dreamed of. And for today’s guest, Alex, this is exactly the goal. Alex left college and went straight into the corporate world, only to realize that her potential wasn’t being met and there were alternative income goldmines that she could be chasing.
So, she got her real estate license as a side hustle, helping buyers and sellers get into and out of homes. Her commissions boosted her income to unforeseen amounts, and now, Alex is sitting on a stack of cash that could help launch her to financial independence. But, even now, with a better job and a serious side hustle, Alex wants to venture deeper into the entrepreneurial realm. The next big dream? Becoming a financial coach for those that want to be in her position.
But, before she starts, Alex needs help figuring out what to do with the savings account she’s been diligently growing. Should she use it to put twenty percent down on a house hack that would limit her living expenses? Or, is there a savvier, more creative way to finance her next property that could put Alex in a FAR better position? If you’re trying to hit FI before, after, or at forty-five, this episode is one you can’t afford to miss!
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21 Ideas for Part-Time Gigs & Side Hustles:
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Episode #395
00:00 Intro
01:16 Money Moment
04:17 Income, Expenses, Assets, and Liabilities
05:52 Quitting Corporate to Find FI
09:57 What to Do With Extra Cash
14:44 Buying Her First Property
24:07 Starting a Coaching Business
38:54 IRAs, HSAs, and Retirement Investing
44:24 The Path to $1,000,000
46:35 Alex's Plan for FI
You do not need a CPA license if you want to pursue financial coaching. Unless you want to file taxes but that doesn’t sound like the route she wants to go. Her experience alone will start her off to be an awesome financial coach.
great episode and guest 👏🏽
Whoa northern nj in the house
Assuming someone's FHA and VA loan suggestion is going to be like finding a needle in haysack. If she finds it what about the appreciation the owner has accumulated? She also has to pay them for their equity .
Awesome video guys. Really like how the videos have changed since the beginning, you've done great Mindy.
Informative. I want to learn more about HSA please. Thank the both of you for sharing these informations
Are you still having regular light bulbs for sale in the US? It hasn't been allowed to import or manufacture them since 2012 in the EU.
I just listened to this episode (and therefore saw this comment) today, and thought that tip was interesting because they have just recently in past weeks banned incandescent bulb sales in the U.S., with I believe CFLs following soon.
@@tubaherogaming631 That is interesting and good to hear. Thank you!