202: Finance Friday: How Should I Plan Ahead to Leave College Debt-Free?
BiggerPockets Money Podcast
English - June 04, 2021 06:00 - 1 hour - ★★★★★ - 2.8K ratingsInvesting Business Education financial independence financial freedom investments wealth finances finance investing success money realestate Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
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!
Learn more about your ad choices. Visit megaphone.fm/adchoices
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!
Learn more about your ad choices. Visit megaphone.fm/adchoices