185: “I DON’T Want to Retire Early” with Investing Expert Barbara Friedberg

BiggerPockets Money Podcast

Barbara Friedburg wasn’t always the savvy investor and saver that many people know her as, but her background helped get her there. Born to parents of the great depression, Barbara had the traits of frugality and modesty instilled into her from a young age. Money was an open subject of discussion in Barbara’s household, unlike most households today. Her parents taught her to value money, not waste it, and be smart when you spend.

Barbara’s innate financial intelligence was clearly shown when she met her husband. Within two weeks of them getting together, Barbara had already taken over her future husband’s finances and got his money into a retirement account. This led to them having a very financially healthy relationship, never spending more than they needed to, and putting a substantial amount of their income into savings and 401(k) accounts.

Barbara then went on to become a financial planner, investor, consultant, and author. In a time where the market is so overvalued, she advises young people to be smart with their income and understand that wealth is built in the long-term, not through quick gambles. Save your money, invest it consistently, and get off the hedonic treadmill. “Don’t covet your neighbor’s BMW” is what she told us!

Barbara also gives us an inside look into her current investments, and why she heavily favors passive index funds over single stock picks. She goes into short, medium, and long-term money, and the uses for each. For young people who haven’t gotten a grip on finances yet, this is a great episode to hear from someone who has done it successfully for decades!

In This Episode We Cover

• Making sure that money is a topic often discussed in your family
• Knowing the value of money and fighting back the urge to spend frivolously
• Saving a large amount of your income whenever possible
• Why Barbara doesn’t believe the FIRE Movement is attainable by most
• Why You HAVE to be diversified in order to succeed
• What to do with your short, medium, and long-term money
• And So Much More!

Links from the Show

• BiggerPockets Money Facebook Group
• BiggerPockets Forums
• Finance Review Guest Onboarding
• Scott's Instagram
• Mindy's Twitter
• Hacking Hedonic Adaptation to Get Way More For Your Money
• Free Investing Resources

Check the full show notes here: https://www.biggerpockets.com/moneyshow185

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