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(743)

326: Finance Friday: Still Feeling "Money Anxious" After Hitting FI

326: Finance Friday: Still Feeling "Money Anxious" After Hitting FI

The path to financial freedom is different for everyone. Some invest in stocks, others flip houses, but one couple breeds rats, trains horses, and buys rentals in cash. Before you get squeamish, this ...

12 Aug 20221h 3min

325: How to Buy Yourself a 6-Figure Income Stream

325: How to Buy Yourself a 6-Figure Income Stream

Buying a business may sound out of your element. Stocks are one thing, and real estate is another, but what about buying businesses? Isn’t business buying something reserved for large companies, wealt...

8 Aug 20221h 25min

324: Finance Friday: Why Even Millionaires Still Have to Budget

324: Finance Friday: Why Even Millionaires Still Have to Budget

What is a millionaire? By definition, someone who has a million dollars or more in net worth. But what do you think of when we say “millionaire”? Are you picturing sports cars, expensive vacations, bi...

5 Aug 202257min

323: Coast FI: The Calculated Way to Retire Early WITHOUT Giving Up What You Love w/Jessica from The Fioneers

323: Coast FI: The Calculated Way to Retire Early WITHOUT Giving Up What You Love w/Jessica from The Fioneers

Coast FI is an interesting concept. Unfortunately, to much of Mindy’s surprise, “coast FI” doesn’t mean having enough money to live by the coast. But, just like living down by the beach, the coast FI ...

1 Aug 20221h 4min

322: Finance Friday: Living Paycheck-to-Paycheck with 9 Rental Properties

322: Finance Friday: Living Paycheck-to-Paycheck with 9 Rental Properties

Rental property cash flow is one of the most important metrics to calculate when analyzing real estate. Your cash flow not only helps you make a little extra money every month but also keeps your prop...

29 Jul 20221h 7min

321: From Spending Six-Figures a Year to Saving 80% of His Income

321: From Spending Six-Figures a Year to Saving 80% of His Income

Living paycheck to paycheck isn’t sustainable. But, if you’re in this position, you already know that. The stress of always worrying about bills, scrounging for money, and never really feeling securit...

25 Jul 20221h 16min

320: Finance Friday: How to Invest When the 20-Year Grind Pays Off

320: Finance Friday: How to Invest When the 20-Year Grind Pays Off

Retirement strategies range from simple index fund investing all the way to full-on real estate development deals. What works for some investors won’t work for others. What’s most important to you is ...

22 Jul 20221h 4min

319: The “Deathbed Toolkit” That Makes Building Wealth Much More Enjoyable

319: The “Deathbed Toolkit” That Makes Building Wealth Much More Enjoyable

Your financial freedom journey won’t look like anyone else’s. It’s your future, your passion, and your life on the line when trying to hit financial independence. But what are we missing out on during...

18 Jul 202258min

Populært innen Business og økonomi

stopp-verden
dine-penger-pengeradet
lydartikler-fra-aftenposten
e24-podden
rss-penger-polser-og-politikk
rss-borsmorgen-okonominyhetene
pengepodden-2
finansredaksjonen
tid-er-penger-en-podcast-med-peter-warren
livet-pa-veien-med-jan-erik-larssen
utbytte
morgenkaffen-med-finansavisen
rss-markedspuls-2
lederpodden
pengesnakk
rss-pa-konto
liberal-halvtime
rss-fa-makro
rss-investering-gjort-enkelt
boligbobla