224: Finance Friday: Paid-Off House Peace of Mind vs. Investing Opportunity

224: Finance Friday: Paid-Off House Peace of Mind vs. Investing Opportunity

Making too much money is a good problem to have, and it’s one that many people in the Bay Area experience. Today we talk to Laurin, a mother of two, making $281,000 a year when combining her salary with her husband’s. They’re doing everything right: paying off the mortgage, contributing to their 401(k)s, and saving up for an emergency reserve. With all these investments and income, Laurin is wondering whether or not her investing strategy is optimized. Her mortgage spans 15 years, so she’s dedicating a large amount every month to pay off her house before she retires. While some people prefer the financial security of not having a mortgage, others (like Scott), prefer having a mortgage for longer while investing in other assets. With the goal of enjoying her life more, Scott and Mindy bring up a handful of options that can help Laurin achieve a massive net worth by the time she is ready to retire. She could work less and contract more, she could refinance and invest for cash flow, she could look into real estate investing, all while she’s setting up a massive nest egg for herself upon retirement! In This Episode We Cover Always taking the 401(k) match your company offers (when available) Using “event-based” planning when you’re closer to retirement age Pre-tax retirement accounts vs. post-tax retirement accounts Saving for children’s college with a 529 plan The two main real estate investing traps to avoid when investing out of state And So Much More! Learn more about your ad choices. Visit megaphone.fm/adchoices

Avsnitt(745)

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Will 2026 Healthcare Costs Destroy Financial Independence for Millions?

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21 Nov 202551min

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Time's running out on 2025, and there are critical financial moves you need to make before December 31st. In this episode of the BiggerPockets Money podcast, Mindy and Scott walk you through the essen...

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Should You Pay Off Your Mortgage or Invest? (Best Choice for FIRE)

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Pay off your mortgage or invest? If you're pursuing FIRE, you've wrestled with this question. A paid-off house means thousands extra in your pocket each month and a lower FIRE number. But investing th...

14 Nov 202531min

How to Build a Tax-Efficient Portfolio (Advanced Strategies)

How to Build a Tax-Efficient Portfolio (Advanced Strategies)

Most people think index funds are the only path to financial independence—and they'll get you there in 15-20 years. But what if you could get there faster? In this episode, Mindy Jensen and Scott Tre...

11 Nov 202546min

How Can Paul Fast Track to FIRE by 45? ($1.6M Net Worth)

How Can Paul Fast Track to FIRE by 45? ($1.6M Net Worth)

Paul has a $1.6 million net worth at 40 years old—impressive by any standard—but he's stuck wondering: Can I retire in the next 5-6 years? In this episode of BiggerPockets Money, Paul shares his jour...

7 Nov 202550min

How to Avoid (or Escape) the Middle-Class Trap and Retire Early

How to Avoid (or Escape) the Middle-Class Trap and Retire Early

You're doing everything right—buying a house, maxing out your 401(k), investing in real estate—but what if these "smart" money moves are actually trapping you in your job? It's the paradox plaguing th...

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