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539: Finance Friday: Can I Comfortably Retire by 50 with My Current Portfolio?

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Manage episode 424702271 series 1900058
Content provided by BiggerPockets. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by BiggerPockets or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://ro.player.fm/legal.

Want to retire early? You don’t have to wait until age sixty-five. With a few cash-flowing assets and smart money moves, you could accelerate your path to retirement and enjoy your riches much sooner than you thought possible!

Welcome back to the BiggerPockets Money podcast! Derek has worked hard to build a $1.7 million net worth and a portfolio of six rental properties. The only problem? He wants to retire at age fifty. In this episode, Mindy and expert investor David Greene from the BiggerPockets Real Estate podcast work together to get Derek on the fastest path to early retirement. If he plays his cards right—redeploying some of his “lazy” home equity, increasing his cash flow, and starting a profitable business or side hustle—he could reach FIRE in just seven years!

Are you wary of today’s sky-high mortgage rates? We share an investing strategy that allows you to buy real estate notes at a deep discount and potentially acquire properties that are worth so much more! You’ll also learn how to use your 401(k) retirement funds today without incurring tax penalties. Finally, you’ll hear about the power of starting a business and reinvesting your profits!

Support today's show sponsor, BAM Capital, your path to generational wealth with premier real estate investment opportunities!

In This Episode We Cover

Creative money strategies that will fast-track your path to early retirement

How to leverage your 401(k) retirement funds today without tax penalties

Boosting your cash flow by converting properties into short-term rentals

How to start a business with low money (and where to reinvest your profits!)

How to (potentially) acquire valuable rental properties at a HUGE discount

When you should hire someone to help manage your real estate portfolio

And So Much More!

Links from the Show

BiggerPockets Money Facebook Group

Network with Other Investors on The Path to FIRE Through the BiggerPockets Forums

Finance Review Guest Onboarding

Join BiggerPockets for FREE

Mindy on BiggerPockets

Scott on BiggePockets

Listen to All Your Favorite BiggerPockets Podcasts in One Place

Apply to Be a Guest on The Money Show

Podcast Talent Search!

Find an Investor-Friendly Agent in Your Area

Find Investor-Friendly Lenders

Property Manager Finder

How to Access Retirement Funds Early

Check Out J Money’s blog, “Budgets Are Sexy”

Check Out Nick Loper’s podcast, “The Side Hustle Show”

Hear David on the "BiggerPockets Real Estate" Podcast

BiggerPockets Money - Episode 443: The Entrepreneur’s Guide to FI: A Day in the Life of a Finance Blogger

BiggerPockets Money - Episode 520: The BEST Side Hustles You Can Start in 2024 (Outside of Real Estate!)

00:00 Intro

01:45 $1.7M Net Worth!

10:20 Derek’s Money Snapshot

18:26 7 Years to FIRE

29:37 Moving “Lazy” Equity

39:42 Note Investing 101

48:45 Starting a Business

Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-539

Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com

Learn more about your ad choices. Visit megaphone.fm/adchoices

  continue reading

550 episoade

Artwork
iconDistribuie
 
Manage episode 424702271 series 1900058
Content provided by BiggerPockets. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by BiggerPockets or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://ro.player.fm/legal.

Want to retire early? You don’t have to wait until age sixty-five. With a few cash-flowing assets and smart money moves, you could accelerate your path to retirement and enjoy your riches much sooner than you thought possible!

Welcome back to the BiggerPockets Money podcast! Derek has worked hard to build a $1.7 million net worth and a portfolio of six rental properties. The only problem? He wants to retire at age fifty. In this episode, Mindy and expert investor David Greene from the BiggerPockets Real Estate podcast work together to get Derek on the fastest path to early retirement. If he plays his cards right—redeploying some of his “lazy” home equity, increasing his cash flow, and starting a profitable business or side hustle—he could reach FIRE in just seven years!

Are you wary of today’s sky-high mortgage rates? We share an investing strategy that allows you to buy real estate notes at a deep discount and potentially acquire properties that are worth so much more! You’ll also learn how to use your 401(k) retirement funds today without incurring tax penalties. Finally, you’ll hear about the power of starting a business and reinvesting your profits!

Support today's show sponsor, BAM Capital, your path to generational wealth with premier real estate investment opportunities!

In This Episode We Cover

Creative money strategies that will fast-track your path to early retirement

How to leverage your 401(k) retirement funds today without tax penalties

Boosting your cash flow by converting properties into short-term rentals

How to start a business with low money (and where to reinvest your profits!)

How to (potentially) acquire valuable rental properties at a HUGE discount

When you should hire someone to help manage your real estate portfolio

And So Much More!

Links from the Show

BiggerPockets Money Facebook Group

Network with Other Investors on The Path to FIRE Through the BiggerPockets Forums

Finance Review Guest Onboarding

Join BiggerPockets for FREE

Mindy on BiggerPockets

Scott on BiggePockets

Listen to All Your Favorite BiggerPockets Podcasts in One Place

Apply to Be a Guest on The Money Show

Podcast Talent Search!

Find an Investor-Friendly Agent in Your Area

Find Investor-Friendly Lenders

Property Manager Finder

How to Access Retirement Funds Early

Check Out J Money’s blog, “Budgets Are Sexy”

Check Out Nick Loper’s podcast, “The Side Hustle Show”

Hear David on the "BiggerPockets Real Estate" Podcast

BiggerPockets Money - Episode 443: The Entrepreneur’s Guide to FI: A Day in the Life of a Finance Blogger

BiggerPockets Money - Episode 520: The BEST Side Hustles You Can Start in 2024 (Outside of Real Estate!)

00:00 Intro

01:45 $1.7M Net Worth!

10:20 Derek’s Money Snapshot

18:26 7 Years to FIRE

29:37 Moving “Lazy” Equity

39:42 Note Investing 101

48:45 Starting a Business

Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-539

Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com

Learn more about your ad choices. Visit megaphone.fm/adchoices

  continue reading

550 episoade

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