531: Financial Freedom in 9 Steps: The Money Guy’s Financial Order of Operations

If you follow these nine steps, you will reach financial independence. How do we know? Well, The Money Guy Show’s Brian Preston and Bo Hanson have tested it hundreds of times! Using this simple but extremely powerful “financial order of operations,” anyone from any background can achieve FIRE, even starting with nothing. From free money to becoming easily debt-free, building a solid financial foundation, and even paying off your mortgage early, Brian and Bo break down the exact route to financial freedom anyone can take. But first, we’ll discover if you’re a “financial mutant.” The fact that you’re listening to BiggerPockets Money already proves that you might be. But for those who have struggled with high-interest credit card debt, low savings, and lackluster investing, this episode has EVERYTHING you need to become a financial powerhouse by making nine smart money moves. We’ll walk through the entire financial order of operations, from saving money to cover your deductibles to building an emergency reserve, paying off bad debt, and the “hyper-accumulation” stage you must reach to watch your net worth explode. If you’re ready to take the steps to realize financial freedom in the not-so-distant future, stay with us and grab Brian’s newest book, Millionaire Mission! In This Episode We Cover The nine-step "financial order of operations" that will lead you to financial independence Why building a $1,000 emergency fund is NOT enough and how much you really need Whether or not to pay off your “high-interest” debt depending on your age Why Brian and Bo advise people NOT to invest in real estate until they’re at THIS stage The one investment account to max out before all the rest (it’s NOT your 401(k)!) The “hyper-accumulation” stage that will explode your wealth (IF you can reach it) And So Much More! Links from the Show BiggerPockets Money Facebook Group Network with Other Investors on The Path to FIRE Through the BiggerPockets Forums Finance Review Guest Onboarding Join BiggerPockets for FREE Mindy on BiggerPockets Scott on BiggePockets Listen to All Your Favorite BiggerPockets Podcasts in One Place Apply to Be a Guest on The Money Show Podcast Talent Search! Find an Investor-Friendly Agent in Your Area Find Investor-Friendly Lenders Property Manager Finder BiggerPockets Money 404 - How to Build Wealth in Three Simple Steps w/The Money Guy Show BiggerPockets Money 510 - Morgan Housel: Financial Lessons From History Anyone Can Use to Get Rich Grab Brian’s New Book, “Millionaire Mission” 00:00 Intro 01:38 Financial "Mutants" Among Us 02:52 The Financial Order of Operations 05:54 Cover Your HIGHEST Deductible 07:38 Get Your Employer Match 09:49 Build an Emergency Reserve 11:11 Paying Off "High-Interest" Debt 22:23 DON'T Invest in Real Estate? 28:34 "Hyper-Accumulation" of Wealth 36:47 Prepay Future Expenses 38:22 Pay Off LOW-Interest Debt 46:11 Grab the New Book! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-531 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices