61 min listen
208: Finance Friday: 23 Years Old, Steady Pay, Low Income, Should I Invest?
208: Finance Friday: 23 Years Old, Steady Pay, Low Income, Should I Invest?
ratings:
Length:
72 minutes
Released:
Jun 25, 2021
Format:
Podcast episode
Description
We’ve said it before and we’ll say it again: it’s never too early to start your journey to financial independence. Today we talk to Mackenzie, a 23-year-old college graduate, working a government job and paying for only minor expenses. She has a serious emergency fund she’s managed to save up and has questions on house hacking, setting up retirement accounts, and the fastest way to get to FI.When you start your financial journey at such a young age, you have many different opportunities. Even just maxing out your Roth every year may be enough to make you a tax-free millionaire, but what about more aggressive strategies like owning rental properties or even shooting for a far higher-paying job? These are all questions that Mackenzie wants answers to, so we have Scott and Mindy here to help!In This Episode We CoverLiving at home when you’re young to save money on rent and foodGraduating debt-free so you can come out of college ready to build wealthTSP accounts, Roth accounts, and the 457 planHouse hacking as a way to fund future investmentsLooking for other jobs or side income that can help you increase your investing rateAnd So Much More!See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Released:
Jun 25, 2021
Format:
Podcast episode
Titles in the series (100)
#04: From Disorganized to Debt Free Through Budgeting and Routine with Rosemarie Groner: Rosemarie Groner was a State Trooper - a good, recession-proof job. Chronic disorganization led to more than $30,000 in consumer debt when she made the decision to quit her job to stay home with her first child. In this episode of The BiggerPockets... by BiggerPockets Money Podcast