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(745)

99: Life After FIRE - Four Case Studies with Scott, Whitney Hansen, and Doc G.

99: Life After FIRE - Four Case Studies with Scott, Whitney Hansen, and Doc G.

On today’s episode of the BiggerPockets Money Podcast, Co-Host Scott Trench teams up with two personal finance superstars in Whitney Hansen and Doc G of Diversefi.com. Together, they hear four “life a...

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98: Change Your Money Mindset, Change Your Life with Vicki Robin

98: Change Your Money Mindset, Change Your Life with Vicki Robin

You know Vicki Robin as the author of Your Money or Your Life, but on today’s show, we dive MUCH deeper into her story and her background. Growing up without a lot of money, she learned how to use her...

11 Nov 20191h 15min

97: Intentionally Choosing the Path to Financial Independence with Financial Mechanic

97: Intentionally Choosing the Path to Financial Independence with Financial Mechanic

Financial Mechanic wanted a puppy - and her parents told her she could have one when her little sister turned her age (in four years). When she asked how much puppies cost, she was told $100. So Finan...

4 Nov 201957min

96: Speaking Fluent Finance with Wilson Muscadin

96: Speaking Fluent Finance with Wilson Muscadin

Wilson Muscadin grew up knowing how to handle money. His father assigned him “book reports” rather than simply giving him an allowance. But the books he read were personal finance books, like Rich Dad...

28 Okt 20191h 3min

95: The House Hacking Strategy with Craig Curelop

95: The House Hacking Strategy with Craig Curelop

One of the most commonly asked questions in the BiggerPockets Forums is “How do I get started investing in real estate with no money?” Craig Curelop has the perfect answer to this question - House Hac...

21 Okt 20191h 3min

94: 18 Options for Healthcare in Early Retirement with Lynn Frair

94: 18 Options for Healthcare in Early Retirement with Lynn Frair

The absolute MOST FREQUENTLY ASKED question I get about Early Retirement is “What do I do about healthcare?” Without going into too much detail, we’re all aware that healthcare costs are fairly ridicu...

14 Okt 20191h 6min

94: LIVE from BPCon2019: Ask Us Anything!

94: LIVE from BPCon2019: Ask Us Anything!

All the BiggerPockets podcast hosts on stage in one place!  This bonus episode was recorded at the BiggerPockets Conference 2019 on October 7th in front of a live audience of more than 1,000 people at...

13 Okt 20191h 21min

93: Financial Mistakes and How to Avoid Them with Scott & Mindy

93: Financial Mistakes and How to Avoid Them with Scott & Mindy

Financial mistakes can have a HUGE impact on your future retirement savings - the opportunity costs can be enormous! In this episode, Scott and Mindy discuss some of the biggest mistakes you can make ...

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