421: Finance Friday: How to Retire in Your 40s by Building Multiple Income Streams

BiggerPockets Money Podcast

English - June 16, 2023 06:00 - 54 minutes - ★★★★★ - 2.8K ratings
Investing 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

Previous Episode: 420: Trading His Man Cave for a “Money Cave” That Makes THOUSANDS a Month

Next Episode: 422: The Late Starter’s Guide to Financial Independence (Even in Your 50s!)

One of the best ways to boost your earning potential is with multiple income streams. With only so much time to dedicate to each stream, however, how do you maximize your total income without burning out? Today’s guest, Joe, is no stranger to the time constraints that come with managing multiple streams of income. With THREE promising income streams, he’s got his hands full!
At 22, Joe launched an online coaching business that earned almost $30K per month at its peak. Unfortunately, working 90–100 hours each week quickly took its toll on Joe, his relationships, and his overall well-being. Unsure of how to juggle his online business, nine-to-five, and latest endeavor—investing in real estate—Joe now finds himself at a crossroads. Which avenues should he pursue going forward? Which income streams offer the highest earning potential? Which options afford him the most schedule flexibility?
In this episode of the BiggerPockets Money podcast, you’ll get a full breakdown of Joe’s monthly income and expenses, as well as a glimpse of some of his long-term financial goals—including how he plans to revamp his online business, make real estate his next side hustle, and retire early. With help from Mindy and guest co-host Kyle Mast, Joe weighs the pros and cons of each income stream and gets a clearer vision of how to optimize his total income going forward!
In This Episode We Cover
Maximizing your earning potential without sacrificing work-life balance
How to avoid burnout when scaling a profitable side hustle
The importance of time management when you have multiple income streams
What you need to know before you start investing in real estate
How to use other income streams to fund your real estate investments
What it really takes to retire early in your 40s
And So Much More!
Links from the Show
BiggerPockets Money Facebook Group
BiggerPockets Forums
Finance Review Guest Onboarding
Join BiggerPockets for FREE
Mindy on BiggerPockets
Kyle’s Website
Clarity Financial
Kyle’s Twitter
Grab Scott’s Book, “Set for Life”
Listen to All Your Favorite BiggerPockets Podcasts in One Place
Apply to Be a Guest on The Money Show
Podcast Talent Search!
Listen to The “On The Market” Podcast: Spotify, Apple Podcasts, BiggerPockets
Money Moment
Financial Freedom Through Multiple Streams of Income
Building 61 Passive Streams of Income with Pat Hiban

Click here to check the full show notes: https://www.biggerpockets.com/blog/money-421

Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Email us: [email protected]

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

At 22, Joe launched an online coaching business that earned almost $30K per month at its peak. Unfortunately, working 90–100 hours each week quickly took its toll on Joe, his relationships, and his overall well-being. Unsure of how to juggle his online business, nine-to-five, and latest endeavor—investing in real estate—Joe now finds himself at a crossroads. Which avenues should he pursue going forward? Which income streams offer the highest earning potential? Which options afford him the most schedule flexibility?

In this episode of the BiggerPockets Money podcast, you’ll get a full breakdown of Joe’s monthly income and expenses, as well as a glimpse of some of his long-term financial goals—including how he plans to revamp his online business, make real estate his next side hustle, and retire early. With help from Mindy and guest co-host Kyle Mast, Joe weighs the pros and cons of each income stream and gets a clearer vision of how to optimize his total income going forward!

In This Episode We Cover

Maximizing your earning potential without sacrificing work-life balance

How to avoid burnout when scaling a profitable side hustle

The importance of time management when you have multiple income streams

What you need to know before you start investing in real estate

How to use other income streams to fund your real estate investments

What it really takes to retire early in your 40s

And So Much More!

Links from the Show

BiggerPockets Money Facebook Group

BiggerPockets Forums

Finance Review Guest Onboarding