207: Comfortably Retiring in Her 40s as a Single Mom with $850k Net Worth

207: Comfortably Retiring in Her 40s as a Single Mom with $850k Net Worth

Part of the reason we started the BiggerPockets Money Show was to share financial stories from all different backgrounds, giving you, the listener, confidence to reach your financial goals regardless of the stage you’re at in life. There’s no better story or person to personify this than Dr. Lakisha Simmons. Lakisha grew up in Indianapolis, born to teenage parents who didn’t have much. She spent the majority of her youth living at different family members’ houses, shopping bargains, and being content with having enough to get by. She started working at 14 years old and has fond memories of taking her paychecks to the bank so she could deposit them in her own checking account. When Lakisha hit some road bumps in her personal life, she put her children first and sold her home, started renting, and dove heavily into FI. She managed to hit a 60% savings rate as a single mother, thanks to her helpful side-income streams. Now, after almost 3 decades of working, she’s ready to retire, spending time with her children and teaching other women how they can do the same. In This Episode We Cover How growing up in poverty can lead to living frugally in the future Whether or not student loans are worth it for the paycheck Looking at ALL your bills and only paying for things that bring you value Renting vs. owning a home, and how it affects your bottom line Taking advantage of 457(b) plans for government employees And So Much More! Learn more about your ad choices. Visit megaphone.fm/adchoices

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FI at 44 AFTER Taking a Year Off at 31

FI at 44 AFTER Taking a Year Off at 31

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The Four Fundamentals of Retirement Drawdown

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Join Mindy Jensen and Scott Trench on the BiggerPockets Money Podcast as they welcome retirement tax experts Sean Mullaney, The FI Tax Guy, and Cody Garrett, a certified financial planner, to break do...

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Why Early Retirement Means Paying Less in Taxes

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In this episode of the BiggerPockets Money Podcast, hosts Mindy Jensen and Scott Trench are joined by tax experts Sean Mullaney and Cody Garrett to reveal how early retirement can actually be your sma...

23 Syys 202550min

Which FIRE Strategy is Best for You? (Lean to Fat FIRE)

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Join Mindy Jensen and Scott Trench on this episode of the BiggerPockets Money Podcast as they dive into the different types of FIRE. Financial Independence, Retire Early isn't a one-size-fits-all ap...

19 Syys 202533min

FI Faster by Making More and Spending Less Using "Geo-Arbitrage"

FI Faster by Making More and Spending Less Using "Geo-Arbitrage"

Discover how geo-arbitrage can double your investing power without requiring a raise, career change, or lottery win! In this episode of the BiggerPockets Money Podcast, Mindy Jensen and Scott Trench a...

16 Syys 202545min

How to Save 50% of Your Income Without Sacrificing Your Lifestyle

How to Save 50% of Your Income Without Sacrificing Your Lifestyle

What if we told you that your path to financial independence isn't about picking the perfect stocks, timing the market, or earning a massive salary? In this revealing episode of BiggerPockets Money, h...

12 Syys 202530min

Mr. Money Mustache’s Simple Secret to Retiring Early in Your 30s

Mr. Money Mustache’s Simple Secret to Retiring Early in Your 30s

Pete Adeney, aka Mr. Money Mustache, joins BiggerPockets Money hosts Mindy Jensen and Scott Trench to break down the shockingly simple math behind early retirement. The man who started the FIRE moveme...

9 Syys 202557min

How to Make Your FIRE Portfolio Even MORE Passive (Finance Friday)

How to Make Your FIRE Portfolio Even MORE Passive (Finance Friday)

Today on the BiggerPockets Money Podcast, we're diving into an incredible success story. Meet Beau, a retired military professional who built a massive real estate empire and achieved financial indepe...

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