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The Realistic, Repeatable Path to Investing for FIRE in Your 20s

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Manage episode 442254027 series 1900058
Innhold levert av BiggerPockets. Alt podcastinnhold, inkludert episoder, grafikk og podcastbeskrivelser, lastes opp og leveres direkte av BiggerPockets eller deres podcastplattformpartner. Hvis du tror at noen bruker det opphavsrettsbeskyttede verket ditt uten din tillatelse, kan du følge prosessen skissert her https://no.player.fm/legal.

Young, old, or in between, you need to hear this episode! Today’s guest paid off over $80,000 of debt, grew her net worth to $100,000 and did it all just years after graduating from college without a sky-high income. How did she make such quick progress, and what’s her secret to skyrocketing her net worth early in her career? She’s sharing it all in this episode, and you (no matter your age) can follow her repeatable path, too!

Want to see your net worth leap so you can fast-track your road to FIRE? Anna Foley is the person you should listen to. Through common-sense smart spending, diligent investing, and salary-increasing career pivots, Anna and her partner went from $80,000 debt to debt-free and finally hit six-figure net worth status. The best part? They did all of it WITHOUT giving up what makes life enjoyable, and they still sport a phenomenal savings rate!

Anna is sharing how she saves a significant portion of her income every month, why she decided to rent (not buy) a house, how “paying yourself first” can get you debt-free before you know it, and why she does NOT follow the traditional advice of chasing a “FIRE number.” In your twenties? Copy Anna’s plan! Closer to retirement? Follow Anna’s smart saving and investing tactics, and you can get there faster!

In This Episode We Cover

How to become debt-free and achieve a six-figure net worth before you’re thirty!

Why Anna decided to rent a house, not buy one, to maximize her savings

What Anna invests 100% of her income in (it’s not real estate!)

The middle-class trap to avoid when maxing out your retirement accounts

Why you DON’T need a FIRE number, and why Anna’s more achievable goals work better

Boosting your income and why job-hopping can explode your income-generating potential

And So Much More!

Links from the Show

Mindy on BiggerPockets

Scott on BiggerPockets

Listen to All Your Favorite BiggerPockets Podcasts in One Place

Join BiggerPockets for FREE

@five20money on Instagram

PassivePockets

BiggerPockets Forums

BiggerPockets Money 97 - Intentionally Choosing the Path to Financial Independence with Financial Mechanic

BiggerPockets Money 110 - Systematically Increasing Income and Intentionally Decreasing Spending with A Purple Life

BiggerPockets Money 558 - How to Start Investing for Retirement: 401(k), IRA, Roth?

BiggerPockets Money 560 - Dude ACTUALLY Withdraws From His 401(k) and Retires at 47

Email Your Savings Rate to mindy@biggerpockets.com!

Support Today’s Show Sponsor, BAM Capital, Your Path to Generational Wealth with Premier Real Estate Investment Opportunities

Reach FIRE Faster with “Set for Life”

Find an Investor-Friendly Agent in Your Area

See Mindy and Scott at BPCON2024 in Cancun!

Finance Friday: How the “Middle-Class Trap” Stops Your Early Retirement

Connect with Anna

(00:00) Intro

(01:10) Investing Right After College

(03:00) Rent, Don’t Buy!

(08:58) Paying Off $80K in Debt

(12:42) Investing for Financial Independence

(16:16) Saving a TON!

(21:11) Better Than a “FI Number”

(25:27) Boosting Your Income

(27:19) Do This FIRST!

(29:11) Connect with Anna!

Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-567

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

593 episoder

Artwork
iconDel
 
Manage episode 442254027 series 1900058
Innhold levert av BiggerPockets. Alt podcastinnhold, inkludert episoder, grafikk og podcastbeskrivelser, lastes opp og leveres direkte av BiggerPockets eller deres podcastplattformpartner. Hvis du tror at noen bruker det opphavsrettsbeskyttede verket ditt uten din tillatelse, kan du følge prosessen skissert her https://no.player.fm/legal.

Young, old, or in between, you need to hear this episode! Today’s guest paid off over $80,000 of debt, grew her net worth to $100,000 and did it all just years after graduating from college without a sky-high income. How did she make such quick progress, and what’s her secret to skyrocketing her net worth early in her career? She’s sharing it all in this episode, and you (no matter your age) can follow her repeatable path, too!

Want to see your net worth leap so you can fast-track your road to FIRE? Anna Foley is the person you should listen to. Through common-sense smart spending, diligent investing, and salary-increasing career pivots, Anna and her partner went from $80,000 debt to debt-free and finally hit six-figure net worth status. The best part? They did all of it WITHOUT giving up what makes life enjoyable, and they still sport a phenomenal savings rate!

Anna is sharing how she saves a significant portion of her income every month, why she decided to rent (not buy) a house, how “paying yourself first” can get you debt-free before you know it, and why she does NOT follow the traditional advice of chasing a “FIRE number.” In your twenties? Copy Anna’s plan! Closer to retirement? Follow Anna’s smart saving and investing tactics, and you can get there faster!

In This Episode We Cover

How to become debt-free and achieve a six-figure net worth before you’re thirty!

Why Anna decided to rent a house, not buy one, to maximize her savings

What Anna invests 100% of her income in (it’s not real estate!)

The middle-class trap to avoid when maxing out your retirement accounts

Why you DON’T need a FIRE number, and why Anna’s more achievable goals work better

Boosting your income and why job-hopping can explode your income-generating potential

And So Much More!

Links from the Show

Mindy on BiggerPockets

Scott on BiggerPockets

Listen to All Your Favorite BiggerPockets Podcasts in One Place

Join BiggerPockets for FREE

@five20money on Instagram

PassivePockets

BiggerPockets Forums

BiggerPockets Money 97 - Intentionally Choosing the Path to Financial Independence with Financial Mechanic

BiggerPockets Money 110 - Systematically Increasing Income and Intentionally Decreasing Spending with A Purple Life

BiggerPockets Money 558 - How to Start Investing for Retirement: 401(k), IRA, Roth?

BiggerPockets Money 560 - Dude ACTUALLY Withdraws From His 401(k) and Retires at 47

Email Your Savings Rate to mindy@biggerpockets.com!

Support Today’s Show Sponsor, BAM Capital, Your Path to Generational Wealth with Premier Real Estate Investment Opportunities

Reach FIRE Faster with “Set for Life”

Find an Investor-Friendly Agent in Your Area

See Mindy and Scott at BPCON2024 in Cancun!

Finance Friday: How the “Middle-Class Trap” Stops Your Early Retirement

Connect with Anna

(00:00) Intro

(01:10) Investing Right After College

(03:00) Rent, Don’t Buy!

(08:58) Paying Off $80K in Debt

(12:42) Investing for Financial Independence

(16:16) Saving a TON!

(21:11) Better Than a “FI Number”

(25:27) Boosting Your Income

(27:19) Do This FIRST!

(29:11) Connect with Anna!

Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-567

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

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