202: Finance Friday: How Should I Plan Ahead to Leave College Debt-Free?


Manage episode 294131297 series 2566047
על ידי podcast@biggerpockets.com התגלה על ידי Player FM והקהילה שלנו - זכויות היוצרים שמורות למפרסם, לא ל-Player FM, והשמע מוזרם ישירות מהשרתים שלכם. הירשמו כדי לעקוב אחר עדכונים ב-Player FM, או הדביקו את כתובת העדכונים באפליקציות פודקאסט אחרות.

Most 21-year-olds aren’t thinking about Roth IRAs, early retirement, house hacking, or graduating college debt-free. But today’s guest, Anthony, is! Anthony is currently a student in community college, preparing to transfer to a four-year college next year. He has a paid-off car, no credit card debt, and makes around $2,000 a month, with $800 or so as extra income each month.

Anthony is wondering where the best place to put his extra income is. Should he invest in his Roth or should he save up money for college costs? Alternatively, he could house hack which could cash flow him through college and allow him to leave with a degree and a profitable rental property.

Scott and Mindy walk through the multiple different options Anthony has and push him to see what he can achieve within the next few years to put him on a path towards financial independence!

In This Episode We Cover

  • Planning for retirement at a very early age
  • Maxing out your Roth IRA and 401(k) match every year you can
  • Paying off credit card debt and car loans
  • Finding side income streams like driving for Uber
  • House hacking during college and leaving with a cash-flowing rental
  • Keeping your spending habits low (especially as you’re starting out)
  • And So Much More!

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

224 פרקים