208: Finance Friday: 23 Years Old, Steady Pay, Low Income, Should I Invest?

208: Finance Friday: 23 Years Old, Steady Pay, Low Income, Should I Invest?

We’ve said it before and we’ll say it again: it’s never too early to start your journey to financial independence. Today we talk to Mackenzie, a 23-year-old college graduate, working a government job and paying for only minor expenses. She has a serious emergency fund she’s managed to save up and has questions on house hacking, setting up retirement accounts, and the fastest way to get to FI. When you start your financial journey at such a young age, you have many different opportunities. Even just maxing out your Roth every year may be enough to make you a tax-free millionaire, but what about more aggressive strategies like owning rental properties or even shooting for a far higher-paying job? These are all questions that Mackenzie wants answers to, so we have Scott and Mindy here to help! In This Episode We Cover Living at home when you’re young to save money on rent and food Graduating debt-free so you can come out of college ready to build wealth TSP accounts, Roth accounts, and the 457 plan House hacking as a way to fund future investments Looking for other jobs or side income that can help you increase your investing rate And So Much More! Learn more about your ad choices. Visit megaphone.fm/adchoices

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Reached FI at 60: How to Switch from Accumulation to Drawdown with Bill Yount

Reached FI at 60: How to Switch from Accumulation to Drawdown with Bill Yount

You've hit financial independence—now what? How do you actually start spending the money you've spent years accumulating? Bill Yount reached FI at 60 after a 10-year journey, and he's figured out the ...

16 Tammi 53min

Broke and in Debt at 50? How to Still Retire On-Time (Step-by-Step Plan)

Broke and in Debt at 50? How to Still Retire On-Time (Step-by-Step Plan)

You're in your 50s, $50,000 in debt, and retirement at 65 feels impossible. We made this episode for you. Today, Mindy and Scott spell out the exact step-by-step plan to go from $50K in debt to a mill...

13 Tammi 1h 8min

How to Reach Coast FIRE (The Relaxed Way to Retire!)

How to Reach Coast FIRE (The Relaxed Way to Retire!)

What if you didn't have to save 70% of your income to retire early? What if you could hit a number in your 30s, ease off the gas, and still reach financial independence—without sacrificing your presen...

9 Tammi 51min

How to Retire Early: A 15-Year Plan to Go from $1,000 to FIRE

How to Retire Early: A 15-Year Plan to Go from $1,000 to FIRE

What if you're doing FIRE in the wrong order? Most people chasing financial independence are following steps that actually slow them down—and it could be costing you years of freedom. In this episode,...

6 Tammi 50min

How to Use AI to Reach Financial Independence Faster

How to Use AI to Reach Financial Independence Faster

AI is revolutionizing how we build wealth and achieve financial independence. In this episode, Mindy Jensen and Scott Trench break down exactly how to use AI tools to accelerate your path to FI—from a...

2 Tammi 31min

Scott Builds Four Portfolios with Four Different Strategies ($40k Experiment)

Scott Builds Four Portfolios with Four Different Strategies ($40k Experiment)

In this episode of the BiggerPockets Money Podcast with Mindy Jensen and Scott Trench, Scott builds four different investment portfolios using real money, each account starting with $10,000 and employ...

30 Joulu 202543min

Which Path to Financial Independence Is Faster? Sell or Rent?

Which Path to Financial Independence Is Faster? Sell or Rent?

Should you turn your primary home into a rental property or sell it when you move? It's one of the biggest financial decisions homeowners face, and in this episode, Mindy Jensen and Scott Trench are h...

26 Joulu 202548min

How to Set FIRE Goals and Actually Achieve Them (2026)

How to Set FIRE Goals and Actually Achieve Them (2026)

Episode #704 ~~~ Download the Goal Setting Document: www.biggerpocketsmoney.com/resources  ~~~ Subscribe to the 31 Day Challenge: www.biggerpocketsmoney.com/31days  ~~~ Subscribe to our Weekly N...

23 Joulu 202537min

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