207: Comfortably Retiring in Her 40s as a Single Mom with $850k Net Worth

207: Comfortably Retiring in Her 40s as a Single Mom with $850k Net Worth

Part of the reason we started the BiggerPockets Money Show was to share financial stories from all different backgrounds, giving you, the listener, confidence to reach your financial goals regardless of the stage you’re at in life. There’s no better story or person to personify this than Dr. Lakisha Simmons. Lakisha grew up in Indianapolis, born to teenage parents who didn’t have much. She spent the majority of her youth living at different family members’ houses, shopping bargains, and being content with having enough to get by. She started working at 14 years old and has fond memories of taking her paychecks to the bank so she could deposit them in her own checking account. When Lakisha hit some road bumps in her personal life, she put her children first and sold her home, started renting, and dove heavily into FI. She managed to hit a 60% savings rate as a single mother, thanks to her helpful side-income streams. Now, after almost 3 decades of working, she’s ready to retire, spending time with her children and teaching other women how they can do the same. In This Episode We Cover How growing up in poverty can lead to living frugally in the future Whether or not student loans are worth it for the paycheck Looking at ALL your bills and only paying for things that bring you value Renting vs. owning a home, and how it affects your bottom line Taking advantage of 457(b) plans for government employees And So Much More! Learn more about your ad choices. Visit megaphone.fm/adchoices

Episoder(742)

The Middle Class Trap: Why $750,000 Doesn't Feel Like Enough (Financial Plan)

The Middle Class Trap: Why $750,000 Doesn't Feel Like Enough (Financial Plan)

Are you a high earner in your 30s or 40s with a growing net worth — but somehow still feel financially stuck? You might be caught in the "boring middle" — a phase where your wealth is locked in home e...

10 Mar 1h

Does More Money REALLY Buy Happiness? | Matt Killingsworth

Does More Money REALLY Buy Happiness? | Matt Killingsworth

What’s the real relationship between money and happiness? In this episode of the BiggerPockets Money Podcast, hosts Mindy Jensen and Scott Trench sit down with leading happiness researcher Matt Killin...

6 Mar 45min

From $15,000 to Financial Independence Through Real Estate

From $15,000 to Financial Independence Through Real Estate

In this episode of the BiggerPockets Money Podcast, hosts Mindy Jensen and Scott Trench sit down with Grace Gudenkauf, a real estate investor who began her journey at just 23 years old with $15,000 in...

3 Mar 43min

Can You Reach Financial Independence on a Median Income?

Can You Reach Financial Independence on a Median Income?

Can you reach financial independence earning a median or below-median income? In this episode of the BiggerPockets Money Podcast, hosts Mindy Jensen and Scott Trench break down why making less money c...

27 Feb 28min

Cruising to FIRE in Her 40s (After Living Pay Check to Pay Check!)

Cruising to FIRE in Her 40s (After Living Pay Check to Pay Check!)

On this episode of the BiggerPockets Money Podcast, Mindy Jensen and Scott Trench are joined by Emily Egashira to hear about her financial journey. Emily’s journey to financial independence proves tha...

24 Feb 56min

AVUV vs VTSAX: Why Small Cap Value Could Outperform

AVUV vs VTSAX: Why Small Cap Value Could Outperform

On this episode of the BiggerPockets Money Podcast, Mindy Jensen and Scott Trench are joined by Frank Vasquez to explore small cap value investing, factor research from Eugene Fama and Kenneth French,...

20 Feb 48min

Paul Merriman’s 4-Step Portfolio Strategy for Long-Term Wealth

Paul Merriman’s 4-Step Portfolio Strategy for Long-Term Wealth

In this episode of the BiggerPockets Money podcast, hosts Mindy Jensen and Scott Trench are joined by Paul Merriman. Paul shares decades of investing wisdom and explains why simple index investing oft...

17 Feb 1h 22min

The New FIRE? Why Time Freedom Beats Early Retirement

The New FIRE? Why Time Freedom Beats Early Retirement

What if financial independence isn’t about retiring early — but about controlling your time right now? In this episode of the BiggerPockets Money Podcast, hosts Mindy Jensen and Scott Trench sit down...

13 Feb 57min

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