Want to say "goodbye" to debt, reach financial freedom, and retire early? Welcome to BiggerPockets Money!
Every week, we interview those who have achieved or are on their way to achieving financial freedom. From debt-ridden credit card consumers looking for advice to late starters building wealth in their 50s and 60s, we talk to anyone and everyone who's on a personal finance journey so YOU can learn from their lessons and make money work for you.
Tune in on Tuesdays, where we interview thought leaders in the personal finance space and investors who used ingenious strategies to retire early. Then, on Finance Fridays, we answer money questions from listeners struggling to find financial footing or needing help figuring out what to do next on their journey to FIRE!
I ❤❤❤❤ Tiffany so much. I’ve been through hell and Back. With cc debt. Had my paycheck garnished (2022) by chase bank $4800. Thank God I was working a second job, I was able to use the funds to pay the garnishment early. Fast forward 2024, I’m debt free. Credit score is 803. I have a pension, deferred compensation plan, an IUL and ELLEVEST savings for an emergency fund. I use my cc to make bill payments each month $627 a month. I really wish more ppl thought this to KIDS KIDS KIDS.
People who find it difficult to cover their basic needs are often those who didn't save enough money during the working years. Retirement decisions plays a significant role in this. Both of my parent worked same numbers of years in the civil service, but my mom invested through a wealth manager, while my dad used a 401K plan.
I started investing when I was 31 when I got the right mindset towards the financial market. I just turned 42 and this last month was the first time that my passive income broke $100k for the month. A solid advice, you don't have to get rich quick, you just have to get rich no matter what, get the right financial advisor and get financial knowledge, you will be good.
Many individuals don't understand the value of financial advisors until their emotions causes financial trouble. I remember a few summers back, amid my lengthy divorce, when I urgently needed substantial support to sustain my business. After some research, I found a highly skilled and licensed advisor. Get yourself a financial advisor!
I'm in a similar boat. I've been holding onto some cash from an inheritance, but l'm nervous about jumping into the stock market with all the recent ups and downs.
ERIC PAUL ELMER is the licensed fiduciary I use. Just research the name on Google. You’d find necessary details to work with a correspondence to set up an appointment with him.
Index fund investing is a solid way to go... compounding is truly amazing. Over the long term index investing is as certain an investment as is needed for long term goals. I save 35% into index funds in a Roth IRA, Roth 401k, brokerage, and HSA. I max out contributions in all of those accounts every year and will continue if I can. My after tax income is $120k, and our expenses are $85k. My goal is $3.3 million to fulfill the 4% rule and have some extra to self insure a few weeks of long term care. My liquid net worth is currently at $2.9M and I'm 5 to 8 years from retirement.
Success is not built on success. It's built on failure, It's built on frustration. it's built on fear that you have to overcome. I pray that anyone who reads this will be successful in Life
Same here, I'm blessed only. God knows how much I praise her, £32,000 every week! I now have a good house and can now afford anything and also support my family, and never will I forget to pay my tithes because God has been so faithful to me and my family
I’ve been diligently working, saving and contributing towards early retirement and financial freedom, but since covid outbreak, the economy so far has caused my portfolio to underperform, do I keep contributing to my 401k or look at alternative sectors to meet my goals?
Agreed, having a good financial advisor is invaluable, my portfolio is well-matched for every season of the market and has just yielded 120% from early last year. I and my advisor are working on a 7 figure ballpark goal, tho this could take another year.
thanks for the lead. I just searched Kathie by her full name and easily spotted her profile, no sweat. I have sent her an email, hoping she gets back to me soon
Great story, and they're on the path to FI and/or FIRE, but certainly not there yet. Maybe in 18 years or so when life with 5 kids have passed they might then be able to reasonably assess their yearly expenses, but certainly not now. They do have a plan, but as Mike Tyson said, everyone has a plan until they get punched in the mouth. The bigger question is (per Morgan Housel) what is their plan when their plan doesn't go according to plan. Love to see them back in 5, 10 then 15 years to see thir progress to Sustainable FI
I’ve tried investing in various things that didn't work out as I hoped. I'm now considering ETFs as a more reliable option. What are the best 5 ETFs for a rookie investor looking to invest a lump sum? let's say $500,000
JEPQ is my favorite so far. It pays monthly with over a 9% yield and also has stayed fairly level. The down side is that it was incepted in 2022 which means there is not a lot of history. I also like FEPI and SPYT.
An ETF with more risk and payout is QDTE. It pays weekly but is higher risk because it just came out this year. The fund is based on covered calls which make money in any market, up or down.
The issue is people have the "I will do it myself mentality" but not equipped for a crash, hence get burnt. Ideally, advisors are reps for investing, and at first-hand encounter, my portfolio has yielded over 300% since covid-outbreak to date, summing up nearly $1m.
truly appreciate the implementation of ideas and strategies that result to unmeasurable progress, thus the search for a reputable advisor, mind sharing info of this person guiding you please?
19:05 completely understandable I can’t stress enough why not learning about Bitcoin can be the biggest mistake of your life 🤦♂️ I told you in 2024 don’t be that person who looks back in 5-7 years and it’s well over a million/coin
My wife and I are middle class millionaires. My wife preferred to stay home, and I've worked 31 years in critical care nursing. We never expected to be millionaires but our investments have grown faster and faster. We do live on a formula of 50% after taxes and save / invest the rest. That strategy developed after getting out of debt, and we just kept doing it for decades. Our net worth crossed the 3 million mark recently which surprises us. It feels surreal to be honest, but we are living within our means and happily so on a take home budget of $90k / year.
My advice to everyone is this : if you want to grow big this year especially in your finances. Be willing to make investments. Saving is great but investing puts you on a pedestal where you wouldnt have to worry about savings as you do now. Thanks to larysa Caba, my portolio is doing really great and im proud of the decisions i made last year.
I feel one Of the greatest challenges that we first timers face in the ma rket is that we end up losing all we have,making it difficult to find ourselves back to our feet. My biggest advice is to always seek the services of a professional just like I did when I ventured into it for the first time. Big thanks to Larysa Caba. I now make huge profits by weekly through her services while still learning to stand on my own.
I think she trades for everyone I meet. I met her twice at a meeting in Germany and after her lectures from Ella I had to personally ask her to be my financial advisor. she is definitely good.
I have never seen a trader as open and transparent as Larysa Caba with her clients. The way she decides to make a profit for her clients. she allows you to express your fears and she still rests your fears and that is my respect. I don't normally comment on videos, but this word should be included. she is really cool.
I’m still paying off debt but follow the idea of sinking funds. We have one for gifts through the year, a small one for gifting to each other, vacations, self care and trips. A little goes into each every paycheck but so does a much larger amount for debt. It’s a balance to not burn out and celebrate the wins!
Anything above 5% and you can pay it off 15-20 years i say go for it. If it would be something mathematically 25-30.years window dont stress yourself. Also age has a lot to do with it . I wouldnt stress myself on trying to pay off a mortgage that you start in your 50s , i dont think you should stress yourself trying to oay off early.
I am 27. I wanted to convert my 401k to a Roth IRA because I anticipate my tax burden to be much higher when I am older. Do you advise I do this given I will have to pay taxes on my 401k money to convert it to a Roth IRA?
This is great stuff! One thing I'd be worried about with adding a 17 year old to title is financial aid. They'll treat parent's assets differently than child-owned assets.
The only difference between FIRE and FI Normal is the rate at which you get to FI. The principles to achieve both are the same (grow income, live within your means, save methodically, etc) and the concepts taught on this show can help anyone achieve FI at whatever pace they choose. Keep it up guys!
My original path was FIRE but never seems like we start new projects and goals. I am soon to be 54. If we would stop achieving we could be FIRE. I don’t think this show is exclusive to Retiring Early. Once you achieve FI the choice is yours!
I was a stay at Home mom with no money in my IRA or any savings of my own, which was scary at 43 years of age. Three years ago I got a part time job and save everything I make. After 3 years, I am 46 yo and have put $9,000 in an IRA and $40,000 in my portfolio with CFA, Kathie Daisy Bosco. Since the goal of getting a job was to invest for retirement and NOT up my lifestyle, I was able to scale this quickly to $150,000. If I can do this in a year, anyone can.
The thing is people often doubt the prospects of financial advisors like Kathie Daisy Bosco in business/markets today. Well it gives me more time to get ahead while they stew in their own pity and doubts as they childishly complain about those spreading the word
With copytrading, you could be sipping coffee on a balcony overlooking a bustling city skyline or lounging on a pristine beach, all while your investments work for you. Picture the freedom to pursue your passions, travel the world, and create lasting memories with your loved ones, all because you took the initiative to harness the power of copytrading and build the life you've always dreamed of.
I operate a wide- range of Investments with help from My Financial Adviser. My advice is to get a professional who will help you, plan and enhance your management skills. For the record, working with Sophia E Haney, has been an amazing experience.
I just turned 41 and awfully late to investing with barely any portfolio except my 401k, I have a decent amount of cash saved up and with inflation currently soaring AGAIN, I’m getting worried about retirement, my intention is to retire at 65 atleast, so how best do I maximize my savings of over $500k
The increasing prices have impacted my plan to retire at 62, work part-time, and save for the future. I'm concerned about whether those who navigated the 2008 financial crisis had an easier time than I am currently experiencing. The combination of stock market volatility and a decrease in income is causing anxiety about whether I'll have sufficient funds for retirement.
I’m a contractor, and my job doesn’t permit me the time to properly analyze my holdings/evaluate stocks myself, so I’ve had a fiduciary actively restructuring my portfolio for the past 7 years now to match the present market condition and that’s how I’ve been able to stay afloat, knowing when to buy and sell…maybe you should do the same.
Kathie Daisy Bosco is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
Acquiring shares can seem simple, but selecting the appropriate stock without a verified process might be difficult. I've been trying for a long time to grow my $210,000 portfolio, but the major hurdle is that I don't have a clear entry and exit strategy. Any feedback on this would be appreciated.
investing in a variety of asset classes will reduce risk more than putting all of your money in one. If your financial understanding is lacking, see a financial consultant.
A lot of individuals downplay the significance of advice until their own emotions become unbearable. A few summers ago, after a drawn-out divorce, I needed a big shove to stay afloat with my firm. I located the most qualified advisor after searching for licensed advisors. Despite inflation, she has helped me build my reserve from $275k to $850k.
It’s interesting to see you alls discussions , the fi community around me is not really spending focused (I’m in the camp that consciously reduces large fixed costs and then spends almsot no time on things like grocery and phone or where we eat out ) so it’s not always top of mind to me that that’s a big focus for folks . I don’t think it’s for me but I enjoy the discussion .
