348: Finance Friday: How to Start Investing After Becoming Debt-Free

Unless you’re a money nerd, knowing how to start investing from scratch isn’t as easy as it seems. With so many options out there and the economy faltering, how do beginners avoid getting burnt? Is something like real estate investing out of reach for new investors in times like today? These questions become even more complicated if you’re like today’s guest, Steven.

Steven recently became debt-free (woohoo!) after paying off six figures worth of combined student, auto, and credit card debt. But because he’s been so focused on paying off debt, investing isn’t coming easy to him. With a baby on the way, he wants to be sure he’s making the smartest moves possible to put himself, his wife, and his child in a position to succeed. But real estate investing, stocks, and other assets aren’t his only worry.

With two job offers on the table, both with separate benefits and drawbacks, Steven is suffering from analysis paralysis, unsure how to move forward. Should he take the job with higher pay and remote flexibility or go with thelower-paid job that offers career growth potential? Thankfully, with Scott out on dad duty, Mindy doesn't have to serve as the lone suggester. Joining her on this episode is J Scott, experienced investor, father, and author of the newest book, Real Estate by the Numbers!

In This Episode We Cover

Paying off $100K in debt and how today’s guest did it in just three years

Finding your financial tribe by attending meetups, joining Facebook groups, and connecting on the BiggerPockets forums

Flexibility vs. finances in a job and which is more important for a new parent?

Eating out expenses and how investing a few meals’ worth of expenses could change your child's future

How to start investing as a beginner and the dangers in diversifying for those who want to build wealth

Side hustles, moving to inexpensive areas, and more financial tradeoffs for a flexible lifestyle

And So Much More!

Links from the Show

BiggerPockets Money Facebook Group

BiggerPockets Forums

Finance Review Guest Onboarding

Mindy's Twitter

J’s BiggerPockets Profile

J’s Personal Website

Listen to All Your Favorite BiggerPockets Podcasts in One Place

Apply to Be a Guest on The Money Show

Podcast Talent Search!

Subscribe to The “On The Market” YouTube Channel

Listen to The “On The Market” Podcast: Spotify, Apple Podcasts, BiggerPockets

Check Out Mindy’s 2022 Live Spending Tracker and Budget

The Money Date: What You Should (And Definitely Should Not) Do to Align Your Finances as a Couple

7 Tips for Successfully Investing in ANY Market Condition With J Scott

Dave Ramsey Solutions

ChooseFi Podcast

Our Phantastic Life Youtube Channel

Click here to check the full show notes: https://www.biggerpockets.com/blog/money-348

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