BiggerPockets Money Podcast

539: Finance Friday: Can I Comfortably Retire by 50 with My Current Portfolio?

Jun 21, 2024

Guest David Greene and hosts discuss strategies to help Derek accelerate his path to early retirement by leveraging real estate investments, tapping into 401(k) funds, starting a profitable business, and utilizing various financial tools. They also explore ways to increase cash flow, optimize asset allocation, and generate passive income through diversified investments.

01:02:27

Episode guests

David Greene

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Episode notes

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Quick takeaways

Consider redeploying home equity for better cash flow to accelerate early retirement.

Utilize note investing to increase passive income and avoid tax penalties when leveraging retirement funds.

Deep dives

Optimizing Real Estate Portfolio for Retirement

Reviewing the real estate portfolio to identify inefficient equity and considering options like selling underperforming properties or implementing a 1031 exchange to improve cash flow. Emphasizing the importance of moving equity from long-term rentals to short-term rentals for better returns.

Intro

3min

Building Passive Income through Real Estate and Stock Market

6min

Using Roth IRA Contributions to Purchase a Property

4min

Transitioning to Canada: Financial Considerations

5min

Optimizing Asset Allocation and Financial Tools for Landlords

8min

Strategies for Achieving Passive Income and Retirement Goals

2min

Strategies for Increasing Cash Flow and Leveraging Equity in Real Estate Investments

23min

Strategies for Equity Utilization and Income Generation in Real Estate Investing

10min

Want to retire early? You don’t have to wait until age sixty-five. With a few cash-flowing assets and smart money moves, you could accelerate your path to retirement and enjoy your riches much sooner than you thought possible!

Welcome back to the BiggerPockets Money podcast! Derek has worked hard to build a $1.7 million net worth and a portfolio of six rental properties. The only problem? He wants to retire at age fifty. In this episode, Mindy and expert investor David Greene from the BiggerPockets Real Estate podcast work together to get Derek on the fastest path to early retirement. If he plays his cards right—redeploying some of his “lazy” home equity, increasing his cash flow, and starting a profitable business or side hustle—he could reach FIRE in just seven years!

Are you wary of today’s sky-high mortgage rates? We share an investing strategy that allows you to buy real estate notes at a deep discount and potentially acquire properties that are worth so much more! You’ll also learn how to use your 401(k) retirement funds today without incurring tax penalties. Finally, you’ll hear about the power of starting a business and reinvesting your profits!

Support today's show sponsor, BAM Capital, your path to generational wealth with premier real estate investment opportunities!

In This Episode We Cover

Creative money strategies that will fast-track your path to early retirement

How to leverage your 401(k) retirement funds today without tax penalties

Boosting your cash flow by converting properties into short-term rentals

How to start a business with low money (and where to reinvest your profits!)

How to (potentially) acquire valuable rental properties at a HUGE discount

When you should hire someone to help manage your real estate portfolio

And So Much More!

Links from the Show

BiggerPockets Money Facebook Group

Network with Other Investors on The Path to FIRE Through the BiggerPockets Forums