A young communications pro shares his incredible journey to a net worth of $250,000 just three years after college. He credits his success to early lessons on compounding interest and a mix of traditional investments, crypto, and even sports betting. The discussion reveals the power of aggressive saving and innovative investment strategies. They also stress the importance of not timing the market, advocating for a disciplined, long-term approach to investing, especially in today's volatile economy.
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Early Net Worth Milestone
Spencer reached $250,000 net worth and $100,000 in retirement three and a half years after college.
He achieved this while working in communications and living near Washington, DC.
question_answer ANECDOTE
Multiple Income Streams Boost Savings
Spencer earns about $75,000 from his job plus substantial side income from reselling and sports betting.
He reported side income of $25–30K historically and aims near $125K total this year.
volunteer_activism ADVICE
Use Side Hustles To Fund Living Costs
Max out tax-advantaged accounts and use side income to cover living expenses.
Put primary salary into retirement and investments while funding living costs from hustles.
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Today we have a communications pro on the podcast who is only a few out of college and has already reached a net worth of a quarter million dollars. He attributes his success to his dad who taught him from a young age the power of compounding interest. In addition to traditional means of growing wealth he has had success dabbling in things like crypto, NFTs and sports betting. This guest is a great example of showing that there is more than one way to have financial success and we all need to set our own goals and follow our own path. After the episode we will be talking about the importance of not trying to time the market for Finance 101.
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