BiggerPockets Money9 Feb 2024

501: Finance Friday: When to STOP Investing and Start Saving Cash Instead

Do you have a cash flow problem? You’re not alone! Dan invests in real estate, has a great W2 job, and maxes out his investment accounts. He wants to hit financial independence by forty, but his lack of cash is making things difficult. Something’s got to give, and Mindy and Scott are here to help!

Welcome back to the BiggerPockets Money podcast! Dan has done an amazing job investing for the future and house hacking throughout his 20s. But now he’s got a MAJOR problem on his hands. Although he and his wife earn around $200,000 per year, they have little to no cash available. With real estate debt, hospital bills, and new baby expenses, Dan is starting to feel the pressure. That extra cash he was able to accumulate only a few years ago? It’s not so easy to find anymore.

In this episode, Mindy and Scott take a deep dive into Dan’s finances to help solve his cash flow problem. Should he follow his real estate dream and pause his retirement account contributions or pivot to a job that will increase his income by another $50,000 per year? Stay tuned to find out!

In This Episode We Cover

Savvy ways to increase your cash flow without taking on more debt

Dan’s house hacking strategy that covers a HUGE chunk of his mortgage

Using a home equity line of credit (HELOC) to buy real estate

How to ask for a raise (and when to pivot to a higher-paying job)

Investing in real estate versus building up your retirement accounts

How Dan plans to reach $10,000/month in “passive” income by the age of forty

And So Much More!

Links from the Show

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Finance Review Guest Onboarding

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Mindy on BiggerPockets

Listen to All Your Favorite BiggerPockets Podcasts in One Place

Apply to Be a Guest on The Money Show

Podcast Talent Search!

Money Moment

Intentionally Choosing the Path to Financial Independence with Financial Mechanic

Systematically Increasing Income and Intentionally Decreasing Spending with A Purple Life

Breaking the Taboo of Talking About Money with Friends, Family, and Bosses

Hear Dan on the “Real Estate Rookie” Podcast

Click here to check the full show notes: https://www.biggerpockets.com/blog/money-501

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