46: Engineering Passive Income Streams to Fund the Life You Want with Financial Samurai

46: Engineering Passive Income Streams to Fund the Life You Want with Financial Samurai

This week’s episode features Sam Dogen from Financial Samurai. After one month working for a top investment firm, Sam knew 70-hour workweeks were not the life he wanted. So Sam took action immediately. Instead of fancy cars and dinners out, Sam shared a studio apartment with a friend and socked away HUGE sums of money—50% of mediocre starting salary. He invested in real estate (shocker), stocks, and bonds—and continued his massive savings rate. Taking advantage of the economic downturn, Sam engineered his layoff and an enormous payout. Sam now lives the life he wants, having set up multiple passive income streams during his working years. He spends time with his family every day and embodies the concept of financially free. He no longer trades his time for money; his money just simply reproduces itself and does all the heavy lifting. This episode is a great look at how a little upfront discomfort can lead the your best life. Links from the Show Craigslist PayPal BiggerPockets Jobs Why Households Need To Earn $300,000 A Year To Live A Middle Class Lifestyle Today (blog) Don't Quite, Get Laid Off Instead (blog) Learn more about your ad choices. Visit megaphone.fm/adchoices

Episoder(744)

248: Finance Friday: I Just Got a Big Raise, What Should I Do With the Money?

248: Finance Friday: I Just Got a Big Raise, What Should I Do With the Money?

Your late 20s through early 30s can be a financially troubling part of life. You aren’t making the most money you ever will, but you’re tackling big expenses. A wedding, a down payment, and trying to ...

12 Nov 20211h 27min

247: Turning 31 Years of Financial Disaster into Ultimate Freedom w/ Alex Felice

247: Turning 31 Years of Financial Disaster into Ultimate Freedom w/ Alex Felice

There are few people on this earth that can make Mindy laugh as much as Alex Felice. He’s been around the block with BiggerPockets a few times, appearing on episode 301 of the BiggerPockets Real Estat...

8 Nov 20211h 21min

246: Finance Friday: I Want to Cash Out My 401k Early, Should I?

246: Finance Friday: I Want to Cash Out My 401k Early, Should I?

“Should I cash out my 401k?” That’s a question you never want to ask in an online financial independence forum. It’s been a well-known rule to never cash out retirement accounts due to withdrawal pena...

5 Nov 20211h 16min

245: High Income, New Cars, Profitable Businesses, and $190k in Debt

245: High Income, New Cars, Profitable Businesses, and $190k in Debt

Brad Finn was raised with a strong work ethic that follows him to this day. He always knew he should be working hard, and that’s exactly what he did. Brad worked throughout high school, college, and s...

1 Nov 20211h 31min

244: Finance Friday: Why a $1M Retirement Goal Isn’t Far Fetched For Late Starters

244: Finance Friday: Why a $1M Retirement Goal Isn’t Far Fetched For Late Starters

Retirement planning can be complicated when you have so many options to choose from. Do you stick with the Roth IRA, the 401k, the Roth 401k, your employee pension plan, or solely invest in stocks and...

29 Okt 202158min

243: Ramit Sethi's Money Advice for Couples: Live a Rich Life, Together

243: Ramit Sethi's Money Advice for Couples: Live a Rich Life, Together

If you’re part of the FI community, you’re probably a saver. Heck, if you’re listening to this podcast you’re probably a saver. While we all are busy optimizing our budget, reinvesting dividends, and ...

25 Okt 20211h 32min

242: Finance Follow-Ups: Short-Term Rentals, Safety Reserves, & More Cash Flow

242: Finance Follow-Ups: Short-Term Rentals, Safety Reserves, & More Cash Flow

A few weeks ago, Mindy was asked by a listener of BiggerPockets Money, “when are you going to do a Finance Friday follow-up?” Well, listener, your wish has come true! Today we talk to three past guest...

22 Okt 20211h 5min

241: The Keys to Free College, Graduating Early, & Retiring with $10 Million

241: The Keys to Free College, Graduating Early, & Retiring with $10 Million

Amber Porter has one of the most optimized retirement plans we’ve ever seen. Seriously, she could give Mindy and Scott a run for their money! Amber grew up in a neighborhood that was anything but rich...

18 Okt 20211h 8min

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