Huge respect for David. Super smart. However, more content is needed that focuses on the 50-somethings who now need to catch up and course correct. There are many of us out there. Time in the market and withstanding volatility is for young people. Would love to see David’s savvy help inform the older generation who need to plan for retirement with a short runway. Thank you!
I absolutely love the messaging of this video. I always tell people one of the first steps to investing is to define your "why" and it can't be because it's the right thing to do. There are going to be times where investing is hard, things will go bad, and investment will fail, the market will go down, things in your rentals will break, etc.... If you don't have a higher meaning for why your investing it's easy to stop. The stronger your purpose and the more simplistic your system or process is the better luck you have of sticking to your plan. Thanks for sharing this video!
I love Scott and Mindy, been watching them since episode 2. TBH I don’t watch BP real estate and the other spin offs, no disrespect but they are a little out of touch e.g. how I build 1000 units with no money I’m also 17 😂 but BP Money remains solid. Love Scott and Mindy, real world application to achieve FIRE.
Wow! I’ve been having the same thoughts as Scott especially if you want to retire early! I know I’m not being tax efficient with a brokerage acct but the flexibility is awesome vs a tax deferred retirement acct. I always thought if I lost my job today and all my money is in retirement accts, it won’t be easy to access all of it. With a Roth, I can only get to my contributions or with the 401k, I would have to take a penalty. I still do my 401k match and put enough in my HSA to get the employer contributions.
I agree with your point. brokerage account is taxable. However, you can use it to create a stream of income through stock investing with the goal that you can access it anything time without the government telling you when and how you should pull money from it. it is taxable but it is the price to pay for your freedom. Like Scott put it, non taxable income is not spendable. Retirement account is great but we need to think about streams of income where you don't touch our capital and can access in case of temporary job loss or to quit your job and start working for yourself. Traditional IRAs are meant to be used up to $0. We can build wealth in them and in Roth IRA but you can touch your money before the government say so without a risk of penalty.
Great information!! Love the pause and plan of personal desires in life. Solo 401k options are also possibilities for business owners to benefit both sides of the tax market portion of the total portfolio. Key Know What You Want In the season you will be in (keeping core values)
Great job team! Now what do some of us do when we have retired and lost 1/8 of my assets. What options do we have to stop the hemorrhaging of money from our portfolio??? I want to invest in real estate, but with out a job, it would be difficult to get a loan.
I love your videos I would like to know how I could be interviewed and you can listen to and tell me what you think of my plan and if I should retire at 49 ! Thanks Ryan
