278: Finance Friday: How to Quell Your Money Anxiety (Even as a High Earner!)

If you want to know how to save money, just look at your expenses. Odds are, if you’re like most people, you aren't budgeting or tracking your expenses to a tee. But there’s no need to be so hard on yourself, even our money mages themselves, Scott Trench and Mindy Jensen don’t always write down every cent spent. That being said, if you’re planning for a big trip, different expenses, or a sudden life change (like leaving your job), there is no better time than NOW to start tracking your expenses. Today’s guest, TJ, knows this all too well.

TJ makes a phenomenal income and already has a multi-million dollar net worth. But, he still suffers from money anxiety and not knowing how much he’ll need to step away from full-time work. Not only that, TJ is planning to take his children on a two-year-long expedition around the globe, all while TJ and his wife aren’t bringing in their regular high incomes.

But he isn’t just relying on his salary for monthly cash flow. TJ has also invested in rental properties as well as real estate syndications—both of which are providing him thousands a month in passive cash flow. But, after the globe-trotting ends, will TJ have to find himself another job or can he happily ski his way to early retirement upon re-arrival? 

In This Episode We Cover
Retirement accounts, private pensions, and setting your future self up for financial success
Cash savings and emergency funds, plus who needs them (and who doesn’t)
Rental property investing and real estate syndications for passive cash flow
Reducing spending and building a “future budget” that forecasts future spending
Money anxiety and how to mitigate it even if you have a high income and net worth
The 4% rule and using it to easily map out your date of financial independence 
And So Much More!

Learn more about your ad choices. Visit megaphone.fm/adchoices

If you want to know how to save money, just look at your expenses. Odds are, if you’re like most people, you aren't budgeting or tracking your expenses to a tee. But there’s no need to be so hard on yourself, even our money mages themselves, Scott Trench and Mindy Jensen don’t always write down every cent spent. That being said, if you’re planning for a big trip, different expenses, or a sudden life change (like leaving your job), there is no better time than NOW to start tracking your expenses. Today’s guest, TJ, knows this all too well.

TJ makes a phenomenal income and already has a multi-million dollar net worth. But, he still suffers from money anxiety and not knowing how much he’ll need to step away from full-time work. Not only that, TJ is planning to take his children on a two-year-long expedition around the globe, all while TJ and his wife aren’t bringing in their regular high incomes.

But he isn’t just relying on his salary for monthly cash flow. TJ has also invested in rental properties as well as real estate syndications—both of which are providing him thousands a month in passive cash flow. But, after the globe-trotting ends, will TJ have to find himself another job or can he happily ski his way to early retirement upon re-arrival? 

In This Episode We Cover

Retirement accounts, private pensions, and setting your future self up for financial success

Cash savings and emergency funds, plus who needs them (and who doesn’t)

Rental property investing and real estate syndications for passive cash flow

Reducing spending and building a “future budget” that forecasts future spending

Money anxiety and how to mitigate it even if you have a high income and net worth

The 4% rule and using it to easily map out your date of financial independence 

And So Much More!

Learn more about your ad choices. Visit megaphone.fm/adchoices