Is something stopping your FIRE? Today’s guest wants to retire early at 35, but with a shaky budget, extra expenses, and a problematic rental property, her path to early retirement isn’t clear. In today’s episode, we’ll break down her finances and help her get back on track!
Welcome back to the BiggerPockets Money podcast! Sarah earns a great salary and diligently saves for retirement each month. You’d think she’s on pace to leave her W2 job in a few years, but there’s one problem—she has more expenses than the average person. Financially responsible for two extra family members, Sarah pays for their mortgage, food, and lifestyle, all while covering her own expenses!
Does Sarah’s financial situation need a major shake-up? Tune in as Scott and Mindy debate whether it’s time for Sarah to part with a property that’s bleeding money, strategize about when to put it on the market, and discuss what to do with the money from the sale. We’ll also touch on the tough conversations Sarah needs to have with family members if she wants to achieve her retirement goal!
In This Episode We Cover
The three things Sarah must do to achieve her goal of FIRE by 35
How to reach your financial goals despite extra expenses
What to do with a rental property that has negative cash flow
The BEST time to put an investment property on the market
How to budget for future children (family planning 101!)
And So Much More!
Links from the Show
Mindy on BiggerPockets
Scott on BiggerPockets
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