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(743)

15: The Pillars of FI, Pt. 2: Designing the Life You Want with Brad Barrett and Jonathan Mendonsa from Choose FI

15: The Pillars of FI, Pt. 2: Designing the Life You Want with Brad Barrett and Jonathan Mendonsa from Choose FI

This is the last half of the epic interview with Brad and Jonathan from Choose FI. Continuing where we left off from last week, we finish up the Pillars of FI conversation, including beginner level to...

9 Apr 201849min

14: The Pillars of FI: Designing the Life You Want with Brad Barrett and Jonathan Mendonsa from Choose FI

14: The Pillars of FI: Designing the Life You Want with Brad Barrett and Jonathan Mendonsa from Choose FI

On today’s epic show, we speak with Brad Barrett and Jonathan Mendonsa from Choose FI. Brad and Jonathan share their pillars of financial independence — the 10 things you need to do in order to achiev...

2 Apr 20181h 1min

13: Achieving FI Before 40 Despite Breaking Every Financial "Rule" with Tanja from Our Next Life

13: Achieving FI Before 40 Despite Breaking Every Financial "Rule" with Tanja from Our Next Life

Tanja reached financial independence (FI) and retired from her full-time, high-stress job at age 38—despite not being a natural saver, having purchased two brand-new cars in the past, and not maxing o...

26 Mar 201849min

12: How to Become an “Overnight” Success in 10 Short Years with David Greene

12: How to Become an “Overnight” Success in 10 Short Years with David Greene

While David Greene is a long-time real estate investor, best-selling author, and one of the top real estate agents in California today, his career started in the most unlikely of places—as a busboy at...

19 Mar 20181h 2min

11: Financial Freedom in Less Than Five Years with Joel from FI 180

11: Financial Freedom in Less Than Five Years with Joel from FI 180

Joel and his wife were barreling down the wrong financial path - saving nothing and spending more than $100,000 every year. A freak car accident literally changed the direction of their lives by causi...

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10: Designing a Frugal But Luxurious FI Life by Age 32 with Liz Thames

10: Designing a Frugal But Luxurious FI Life by Age 32 with Liz Thames

In March, 2014, Liz and her husband made the conscious decision to stop their big city, big spending lifestyle, and adopt a frugal mindset in order to realize their new goal of moving out of the hustl...

5 Mar 20181h 6min

9: Financial Independence at Age 30 (by House Hacking + Side Hustles) with Drew from Guy On Fire

9: Financial Independence at Age 30 (by House Hacking + Side Hustles) with Drew from Guy On Fire

What would happen if someone had early financial independence in mind right out the gate, upon graduating college? Imagine the amount of money that person could stockpile... Today’s guest had exactly ...

26 Feb 201856min

8: From Financially Perfect to Rock Bottom (and back again) with Tiffany “The Budgetnista” Aliche

8: From Financially Perfect to Rock Bottom (and back again) with Tiffany “The Budgetnista” Aliche

Tiffany Aliche grew up talking about money. Her dad was an accountant,  her mother actively  engaged the children in grocery  shopping and other areas of finance. She was a teacher at a private school...

19 Feb 201855min

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