BiggerPockets Money Podcast 320: Finance Friday: How to Invest When the 20-Year Grind Pays Off
Retirement strategies range from simple index fund investing all the way to full-on real estate development deals. What works for some investors won’t work for others. What’s most important to you is knowing what will or won’t work for your lifestyle. Some workers can easily do a couple of fix and flips on the side to generate income, while you may have a sixty-hour workweek, without a lot of free time to start investing in more intense asset classes.
Chris feels just like this. As a working professional with a hectic schedule, he's concerned that he can’t participate in more “active” income-generating projects like real estate investing. He's been grinding for decades, making decent money but funneling much of it to pay off expensive student loan bills. When his wife sold her business, an unexpected windfall profit resulted, leaving the couple with more options than they thought.
Now they want to “back into retirement” as easily as possible, while still making wealth-building moves. What’s the best option for them? Stocks, real estate, or focusing on work so they can build a large cash reserve? While Scott and Mindy can’t answer this question for him, Chris is presented with a few good options that’ll help him become a multimillionaire in only a few short years.
In This Episode We Cover
Buying and selling a business, plus some lucrative exit options for when you decide to sell
Short-term rental investing and why big profits usually come with big-time commitments
The “perfect” retirement portfolio and how to build your assets around your lifestyle
Planning for your child’s college and how to invest risk-free while taking tax-advantages
Whether to invest in pre or post-tax retirement accounts when you’re coming close to retirement age
Serious side hustles that’ll help you achieve the “four-week work year”
And So Much More!
Links from the Show
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Finance Review Guest Onboarding
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Check Out Mindy’s 2022 Live Spending Tracker and Budget
Finance Friday: How to Get to Early Retirement Even Faster
The “Perfect” Investment Portfolio for Early Retirement w/Ask The Money Coach
Bonds: The Perfect Inflation Hedge (with One BIG Caveat)
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