How to Money Impoverished Upbringing to Money Monster w/ Listener Nick Gangwer #986
May 21, 2025
In this engaging conversation, listener Nick Gangwer shares his inspiring journey from an impoverished upbringing to achieving financial independence. He discusses the pivotal role scholarships played in his education and how saying 'yes' to opportunities fueled his success. Nick dives into his experiences with house hacking and the importance of resilience in overcoming adversity. He emphasizes setting realistic FIRE goals and the balance between ambition and personal well-being, all while encouraging continuous self-education. It's a must-listen for anyone seeking motivation in their financial path!
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From Poverty to College Scholarships
- Nick grew up in poverty with a single mom making less than $20,000 annually.
- He worked from age 12, applying to hundreds of scholarships to escape and fund college debt-free.
Document Activities for Scholarships
- Document all volunteer and community activities to strengthen scholarship applications.
- Genuine community involvement can differentiate you even with similar grades or test scores.
House Hacking in College
- Nick bought a house in college using a 5% down conventional loan and house hacked by renting to friends.
- He manages the property himself and charges below-market rates to support peers affordably.