BiggerPockets Money Podcast

How to Stay Rich During FIRE by Dodging the 4 Financial “Horsemen”

28 snips
Mar 18, 2025
Whitney Elkins-Hutten, author of 'Money for Tomorrow,' shares her journey from novice house flipper to seasoned investor. She reveals the four financial 'horsemen' that threaten your wealth during FIRE. Whitney discusses the hidden fees lurking in retirement accounts and how to prioritize debt payment effectively. She also emphasizes smart strategies for managing insurance costs and optimizing investment returns through tax planning. Tune in for tips on ensuring your financial independence remains intact!
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ANECDOTE

Accidental House Flipper

  • Whitney Elkins-Hutton bought a house with a partner, who left her with the mortgage shortly after.
  • She rented out rooms, learned renovations, and sold it 11 months later for a $52,000 profit.
INSIGHT

Lightbulb Moment

  • Selling her first property for a large profit was a pivotal moment for Elkins-Hutton.
  • She realized wealth building required shifting from trading time for dollars to making money work for her.
ADVICE

Transitioning to Long-Term Wealth

  • Elkins-Hutton transitioned to long-term wealth by focusing on cash flow and ownership.
  • She advises understanding how money works at all stages, not just accumulation.
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