Early retirement is possible for almost anyone, no matter where you start or how much you make. If you can sacrifice and save more than you spend, there’s a good chance you could retire years or even decades earlier than the rest. In fact,you can retire early on a median income salary without any retirement savings to start with…but you’ll need to do one crucial thing. As you’ll see from today’s guests, David and Danielle, one smart purchase may have set them up for life!
We’re back with another Finance Friday, where we talk to David and Danielle, two median-income earners trying to figure out the right path to early retirement. After Danielle’s sales-based burnout, the couple has been surviving with just one income, cutting it close every month. But, with a return to work on the calendar for Danielle, the chances of financial freedom are looking bright. But where do they go from here?
With David and Danielle’s real estate dreams, Scott and Mindy come up with a handful of ways that this couple could use their primary residence to bolster their chances of early retirement and allow them to save a significant amount of money every month. So if you feel like you’re starting over on the path to FIRE and don’t know which move is right, this is an episode for you!
In This Episode We Cover
How to use your home to retire early and start investing
Grocery shopping, food bills, and how to stop eating your money every month
Legal fees and accounting for lawyer bills during an ongoing dispute
House hacking and living for free while renting out spare space
Assumable loans and upgrading your property when you have LOTS of equity
And So Much More!
Links from the Show
BiggerPockets Money Facebook Group
BiggerPockets Forums
Finance Review Guest Onboarding
Join BiggerPockets for FREE
Mindy on BiggerPockets
Scott's Instagram
Grab Scott’s Book, “Set for Life”
Listen to All Your Favorite BiggerPockets Podcasts in One Place
Apply to Be a Guest on The Money Show
Podcast Talent Search!
Listen to The “On The Market” Podcast: Spotify, Apple Podcasts, BiggerPockets
Money Moment
House Hacking: A Beginners Guide to Living for Free
Grocery Shopping Got a Hold on Your Wallet? Check Out These Episodes: Cutting Your Grocery Bill in Half
The Most Efficient Path to Financial Freedom
Food Spending Eating Away at Your FI Plans? Here’s How to Eat for Cheap
Slash Your Food Budget by $150+ Per Week with EASY, Healthy, and Tasty Meals
Click here to check the full show notes: https://www.biggerpockets.com/blog/money-413
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