122: Getting Back to Financial Independence Basics - Using Lockdown to Reset Your Finances

122: Getting Back to Financial Independence Basics - Using Lockdown to Reset Your Finances

Scott and Mindy have focused on Coronavirus for the last few episodes - talking to experts about how the virus has affected the stock market, the 4% rule, and even early retirees. They’ve interviewed Financial Planners to get tips for using the current market conditions to their advantage, as well as chatted with a mortgage broker to determine the best time to refinance. In this episode, Scott and Mindy talk about lifestyle creep - and how they have both been affected over the last couple of years. They revisit the basics of Financial Independence, spending less than you earn, increasing your income, investing wisely, creating multiple sources of income, and living your best life once money has been taken care of. Using their lockdown spending as a guide, Scott and Mindy go through the steps they’ve taken and the changes they’ve made to their expenses - including what they will add back once the world reopens and what expenses they don’t miss. This episode will help you get back to your Financial Independence basics, too. In This Episode We Cover: The basics of Financial Independence Spending less than you earn How Scott and Mindy save their money How their spending changed Increasing your income Investing in low cost, quality investment vehicles Creating multiple, passive streams of income Living the life you truly love And SO much more! Links from the Show BiggerPockets Money Podcast 116 with JL Collins BiggerPockets Money Podcast 41 with Kyle Mast BiggerPockets Money Podcast 84 with Kyle Mast BiggerPockets Money Podcast 118 with Kyle Mast BiggerPockets Money Podcast 119 BiggerPockets Money Podcast 120 with Michael Kitces BiggerPockets Money Podcast 121 with Seth Jones BiggerPockets Money Podcast 03 with Erin Chase BiggerPockets Money Podcast 97 with Financial Mechanic BiggerPockets Business Podcast 51 with Nigel Guisinger Mint Something about Food Podcast Waffles on Wednesday: Make Your Own Free Mobile Expense Tracking App in 30 Minutes Real Estate Rookie Facebook Group BiggerPockets Money Facebook Page Learn more about your ad choices. Visit megaphone.fm/adchoices

Episoder(744)

Reviewing Our FIRE Journeys, Timelines, and Single Biggest Regret

Reviewing Our FIRE Journeys, Timelines, and Single Biggest Regret

You can attack financial independence from one of two angles. You can create a strict timeline for achieving FIRE, or you can calculate your FIRE number and take your time with it. Which approach work...

29 Okt 202441min

Finance Friday: FI by 40? Make These Career and Investment Moves Now

Finance Friday: FI by 40? Make These Career and Investment Moves Now

Everyone wants to become “work-optional” at some point. Having enough money in investments and the bank would allow you to choose the job you love most, whether that’s running your own business, worki...

25 Okt 202447min

Fast-Track FI by “Gamifying” Your Finances and Making Your Own Luck

Fast-Track FI by “Gamifying” Your Finances and Making Your Own Luck

The combination of saving money and buying rentals is a recipe for reaching financial independence much faster than you thought possible. Just ask today’s guest, who started with tens of thousands of ...

22 Okt 202451min

On Track to Retire a Millionaire After Living Paycheck to Paycheck

On Track to Retire a Millionaire After Living Paycheck to Paycheck

Just a short while back, Marisa Mae was caught in the paycheck-to-paycheck trap, her credit cards stretched to their limits with no emergency savings to speak of, all while wrestling with constant fin...

18 Okt 202427min

Should You Keep or Sell Your House? Use This Tool to Find Out in Minutes

Should You Keep or Sell Your House? Use This Tool to Find Out in Minutes

Should you sell your house or keep it as a rental property in 2024? What you do with your home today could create a million-dollar swing in your portfolio ten, twenty, or thirty years from now. Fortun...

15 Okt 202442min

4 Ways to Make Passive Income from Real Estate (Don’t Quit Your 9-5!) w/Devon Kennard

4 Ways to Make Passive Income from Real Estate (Don’t Quit Your 9-5!) w/Devon Kennard

Real estate investing is one of the best vehicles for building wealth, reaching financial independence, and saving for retirement, but you don’t need to become a full-time investor to reap the benefit...

11 Okt 202453min

How Much Do You Need for Early Retirement? (How to Calculate Your FI Number)

How Much Do You Need for Early Retirement? (How to Calculate Your FI Number)

How Much Do You Need for Early Retirement? (How to Calculate Your FI Number) Podcast Description What’s your financial independence number (FI/FIRE number)? Are you being too conservative, or are you ...

8 Okt 202436min

Why This “Physician on FIRE” Ignored the 4% Rule & Delayed Early Retirement w/Leif Dahleen, MD

Why This “Physician on FIRE” Ignored the 4% Rule & Delayed Early Retirement w/Leif Dahleen, MD

Why do many wealthy people wait so long to retire? Despite earning a physician’s salary, living frugally, and saving what most would call “more than enough” money, today’s guest worked for another fou...

4 Okt 202435min

Populært innen Business og økonomi

stopp-verden
lydartikler-fra-aftenposten
dine-penger-pengeradet
rss-penger-polser-og-politikk
rss-borsmorgen-okonominyhetene
e24-podden
pengepodden-2
tid-er-penger-en-podcast-med-peter-warren
pengesnakk
livet-pa-veien-med-jan-erik-larssen
finansredaksjonen
utbytte
stormkast-med-valebrokk-stordalen
morgenkaffen-med-finansavisen
lederpodden
rss-markedspuls-2
rss-sunn-okonomi
rss-pa-konto
liberal-halvtime
stockup