Blake Nielson is a college professor whose wife stays home to raise their four children. Despite having only one income - and six mouths to feed - they have paid off their home and are on the path to early financial freedom. Blake currently loves his job and has no plans to stop working - but still wants the freedom that financial independence gives.
So how did he do it? He started off debt free from college, a HUGE leg up in life in general. Blake details just how he accomplished this feat, from college selection to funds available, scholarships and even working during the school year and especially during the summers between.
Blake even shares a Solid Gold tip for finding out about scholarships that aren’t well publicized!
Blake also strategically chose where he lived during his college years. He specifically chose a rental that was priced significantly lower than the “college” rentals in town - but still close enough to walk to school.
There is no secret to Blake’s success. He put in the work at an early age and is on track to hit lean FI by age 40 and Fat FI by 45. Spend less than you earn, invest wisely. Blake shows you can live the FI life with four kids and one income.
In This Episode We Cover:
- Blake's money story
- Simple principles of frugality
- 4 keys that any person can go to college debt free
- Talking about school selection
- How he budget his money
- House hacking
- Talking about scholarships
- His experience after getting a PhD
- Blake's job
- The problem that most people have with negotiation
- And SO much more!
Links from the Show
Check the full show notes here: https://www.biggerpockets.com/moneyshow141
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