54) Adulting Is Easy: A Million Bucks by 30

Real Estate Investing with House Money

In this week’s House Money Podcast episode, we have for you Adulting Is Easy Podcast episode 148 by Lauren Keen Aumond where she talks to Alan Corey and discusses his book “A Million Bucks By 30.” Alan grew up with parents who were public school teachers, so he knew about money but didn't have much himself. He decided he wanted to make a million dollars by the time he turned 30 and write a book about how he did it. He started right after college, when he was 21 years old. Alan's plan was to save a lot of his earnings by sending a big chunk of his paycheck to a bank across town so he couldn’t easily get to the money there. At only a $50k salary per year, he was saving more than half! He did a lot of side hustling as well, with surveys and things like that. After that, every January 1st, he'd check how much he saved and use it to buy property. His first move was putting $10,000 down on a $99,600 condo in Brooklyn, which he bought when not many people were buying property in New York City after 9/11. Alan made saving money into a game and thought about his future self when making decisions. He was patient and didn't spend money on immediate pleasures. He even rented out part of his one-bedroom condo to help pay for it. Now that he's achieved his goal of becoming a millionaire, Alan and Lauren both agree that it's smart to start by paying yourself first and earning more. Of course, they both know that house hacking helped catapult their wealth. They say that building wealth opens up opportunities, but you have to start somewhere. Note that growing your wealth is important, but it’s not the most important thing in life. Alan didn’t become instantly happier when he became a millionaire. Now, Alan is a fan of starting with discipline and watching spending but focusing on earning more later. Lauren agrees and outlines how she did both in her 20s. Getting into sales is a great way to earn more. Alan and Lauren also discuss House Money Media.

Mortgage Minute: Jasmine answers the question: What does DTI stand for and why is that so important to know?

Sponsored by: Jasmine Mortgage Team https://www.jasminemortgageteam.com/

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