232: Finance Friday: What Would You Do With an Extra $100k Per Year?

232: Finance Friday: What Would You Do With an Extra $100k Per Year?

Kari and her wife made some big moves over the past few years. They packed up their stuff and left the San Francisco Bay Area for a relocation in the midwest. Unlike the Bay Area, the Midwest has many affordable housing options with plenty of chances to house hack. So, that’s exactly what the couple did! They bought a duplex in rough condition, put in close to $80,000 of renovations, and now get $900 a month from the side they’re renting out. Although this renovation allowed them to live for free, it put a $66,000 hole in their pockets, which they recently just paid off. Without much retirement savings or investments in general (save the house hack), Kari is wondering what she can do to maximize the extra $100,000 in after-tax income she and her wife bring in every year. Should she go the index funds route, buy another rental, or help her wife pursue her dreams by investing in a restaurant? Scott and Mindy give Kari a lot of ideas in this episode, many of which could help you as well! In This Episode We Cover Using “strategic debt” to grow your investments and income Planning your future finances when trying to start a family Investing in your 401(k), Roth IRA, Self-Directed 401(k), and other investment accounts Using the “Live in Flip” model to avoid paying capital gain taxes Why you shouldn’t diversify when you are in a low to moderate net worth category And So Much More! Learn more about your ad choices. Visit megaphone.fm/adchoices

Episoder(749)

197: 4 Children, a Lower Income, and STILL Hitting Financial Independence

197: 4 Children, a Lower Income, and STILL Hitting Financial Independence

There are a lot of excuses we hear from people as to why they can’t reach financial independence. They needed that new car, they needed that nicer apartment, they needed the expensive vacations. Often...

17 Mai 20211h 10min

196: Finance Friday: Debt-Free, Great Pensions, But Will it Be Enough?

196: Finance Friday: Debt-Free, Great Pensions, But Will it Be Enough?

Getting out of debt can be very empowering, which is exactly how Azar and Jeffrey felt when they paid off $83,000 of debt in under 3 years! They thought it may be the best time to start investing in r...

14 Mai 20211h 28min

195: 3 Degrees, Debt Free, and “Coasting” to Financial Independence

195: 3 Degrees, Debt Free, and “Coasting” to Financial Independence

Student loans can often drag people into debt, especially when chasing more than one degree. But here’s an unusual story: Brenda Olmost, PhD student, nurse practitioner, and member of the FIRE communi...

10 Mai 202157min

194: Finance Friday: Will I Still Be Able to Hit Retirement At 60?

194: Finance Friday: Will I Still Be Able to Hit Retirement At 60?

It’s a common concern among many Americans on whether or not they can retire on a timeline they feel comfortable with. In this episode, we talk to Deb, who’s having some of those same concerns. She ha...

7 Mai 20211h 16min

193: Building a Business After Homelessness, Addiction, and Debt

193: Building a Business After Homelessness, Addiction, and Debt

Part of the mission of the BiggerPockets Money Show is to share journeys from all walks of life. Our guests show that no matter where you’re at, you can reach financial freedom and enjoy your life on ...

3 Mai 20211h 27min

192: I Make Great Money - Why Do I Feel So Broke? Finance Friday

192: I Make Great Money - Why Do I Feel So Broke? Finance Friday

In many of our lives, we make a decent salary, we try to save and invest, but we still feel bogged down by debt. How is it possible to feel “broke” while making a great salary? That is the question th...

30 Apr 20211h 5min

191: It’s Not Your Money, It’s Your Future Self’s Money with Angela Rozmyn

191: It’s Not Your Money, It’s Your Future Self’s Money with Angela Rozmyn

Many of us have had the benefit of growing up in households where our parents taught us about money, saving, and investing. Angela Rozmyn was raised in one of these households, and when she wanted som...

26 Apr 20211h

190: Why You Should Always Have Side-Income: Finance Friday with Rachael

190: Why You Should Always Have Side-Income: Finance Friday with Rachael

Side businesses can be a fantastic way to boost your savings and investing rates, especially if you’re making a low salary! Rachael works in the insurance industry and is keen on getting a promotion s...

23 Apr 20211h 1min

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