501: Finance Friday: When to STOP Investing and Start Saving Cash Instead

Do you have a cash flow problem? You’re not alone! Dan invests in real estate, has a great W2 job, and maxes out his investment accounts. He wants to hit financial independence by forty, but his lack of cash is making things difficult. Something’s got to give, and Mindy and Scott are here to help!
Welcome back to the BiggerPockets Money podcast! Dan has done an amazing job investing for the future and house hacking throughout his 20s. But now he’s got a MAJOR problem on his hands. Although he and his wife earn around $200,000 per year, they have little to no cash available. With real estate debt, hospital bills, and new baby expenses, Dan is starting to feel the pressure. That extra cash he was able to accumulate only a few years ago? It’s not so easy to find anymore.
In this episode, Mindy and Scott take a deep dive into Dan’s finances to help solve his cash flow problem. Should he follow his real estate dream and pause his retirement account contributions or pivot to a job that will increase his income by another $50,000 per year? Stay tuned to find out!

In This Episode We Cover
Savvy ways to increase your cash flow without taking on more debt
Dan’s house hacking strategy that covers a HUGE chunk of his mortgage
Using a home equity line of credit (HELOC) to buy real estate
How to ask for a raise (and when to pivot to a higher-paying job)
Investing in real estate versus building up your retirement accounts
How Dan plans to reach $10,000/month in “passive” income by the age of forty
And So Much More!

Links from the Show
BiggerPockets Money Facebook Group
Network with Other Investors on The Path to FIRE Through the BiggerPockets Forums
Finance Review Guest Onboarding
Join BiggerPockets for FREE
Mindy on BiggerPockets
Listen to All Your Favorite BiggerPockets Podcasts in One Place
Apply to Be a Guest on The Money Show
Podcast Talent Search!
Money Moment
Intentionally Choosing the Path to Financial Independence with Financial Mechanic
Systematically Increasing Income and Intentionally Decreasing Spending with A Purple Life
Breaking the Taboo of Talking About Money with Friends, Family, and Bosses
Hear Dan on the “Real Estate Rookie” Podcast

Click here to check the full show notes: https://www.biggerpockets.com/blog/money-501
 
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

Do you have a cash flow problem? You’re not alone! Dan invests in real estate, has a great W2 job, and maxes out his investment accounts. He wants to hit financial independence by forty, but his lack of cash is making things difficult. Something’s got to give, and Mindy and Scott are here to help!

Welcome back to the BiggerPockets Money podcast! Dan has done an amazing job investing for the future and house hacking throughout his 20s. But now he’s got a MAJOR problem on his hands. Although he and his wife earn around $200,000 per year, they have little to no cash available. With real estate debt, hospital bills, and new baby expenses, Dan is starting to feel the pressure. That extra cash he was able to accumulate only a few years ago? It’s not so easy to find anymore.

In this episode, Mindy and Scott take a deep dive into Dan’s finances to help solve his cash flow problem. Should he follow his real estate dream and pause his retirement account contributions or pivot to a job that will increase his income by another $50,000 per year? Stay tuned to find out!

In This Episode We Cover

Savvy ways to increase your cash flow without taking on more debt

Dan’s house hacking strategy that covers a HUGE chunk of his mortgage

Using a home equity line of credit (HELOC) to buy real estate

How to ask for a raise (and when to pivot to a higher-paying job)

Investing in real estate versus building up your retirement accounts

How Dan plans to reach $10,000/month in “passive” income by the age of forty

And So Much More!

Links from the Show

BiggerPockets Money Facebook Group

Network with Other Investors on The Path to FIRE Through the BiggerPockets Forums

Finance Review Guest Onboarding

Join BiggerPockets for FREE

Mindy on BiggerPockets

Listen to All Your Favorite BiggerPockets Podcasts in One Place

Apply to Be a Guest on The Money Show

Podcast Talent Search!

Money Moment

Intentionally Choosing the Path to Financial Independence with Financial Mechanic

Systematically Increasing Income and Intentionally Decreasing Spending with A Purple Life

Breaking the Taboo of Talking About Money with Friends, Family, and Bosses

Hear Dan on the “Real Estate Rookie” Podcast

Click here to check the full show notes: https://www.biggerpockets.com/blog/money-501

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