534: Coast FI at 24 and a $99K Net Worth Thanks to a Few Years of Pure Hustle

BiggerPockets Money Podcast

English - June 04, 2024 06:00 - 57 minutes - ★★★★★ - 2.8K ratings
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Previous Episode: 533: What Even We Didn’t Know About “Protecting” Our Wealth

Next Episode: 535: Achieving FIRE in Her 40s By Taking "Calculated" Risks

Could Coast FI be your BEST path to financial independence? Maybe you don’t want to retire early—not yet, at least. Hustle for a few years, invest your money, and watch it snowball instead! This twenty-four-year-old saved nearly $100,000 with this strategy, and in today’s episode, she’ll show you how to do the same!
Emma von Weise was determined to take control of her finances at a very early age, getting her first job at just fourteen years old and saving money at every opportunity. This allowed her to not only escape college debt-free but also build a $99,000 net worth, a figure that will make her Coast FI until retirement—which isn’t on the radar anytime soon! Using her newfound financial freedom, Emma has built her “dream” life by working in a field she loves and taking plenty of time off to travel.
In this episode, Emma shares about all of the different jobs and side hustles she took up to supercharge her savings, as well as several creative “hacks” she used to help fund her college tuition. She also talks about some of the pivotal moments that shaped her views on personal finance, such as discovering the power of compound interest and finding an entire support system through the FI community!

In This Episode We Cover
How Emma became Coast FI by twenty-four and built a $99,000 net worth
Creative ways to fund your college education and escape debt-free
The real value of buying used cars from private owners (and where to find deals!)
How to create a fun and fulfilling life you don’t want to retire from
How to fast-track your fortune using the power of compound interest
Making your money work harder for you after stockpiling cash
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
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BiggerPockets Money Episode 474 - Mindy and Scott’s Favorite Sleepaway Camp for FIRE Chasers
BiggerPockets Money Episode 449 - Coast FI in 4 Years: Cutting Expenses, Doubling Your Income, & HUGE Savings
BiggerPockets Money Episode 323 – Coast FI: The Calculated Way to Retire Early WITHOUT Giving Up What You Love w/Jessica from The Fioneers
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00:00 Intro
01:18 Working & Saving at 14!
07:32 Taking Control of Her Finances
10:52 Buying Used Cars
15:32 Creative Ways to Fund College
23:28 Learning to Invest
30:12 Joining the FI Community
37:48 $99K Net Worth at 24!
45:07 The Power of Coast FI

Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-534

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Emma von Weise was determined to take control of her finances at a very early age, getting her first job at just fourteen years old and saving money at every opportunity. This allowed her to not only escape college debt-free but also build a $99,000 net worth, a figure that will make her Coast FI until retirement—which isn’t on the radar anytime soon! Using her newfound financial freedom, Emma has built her “dream” life by working in a field she loves and taking plenty of time off to travel.

In this episode, Emma shares about all of the different jobs and side hustles she took up to supercharge her savings, as well as several creative “hacks” she used to help fund her college tuition. She also talks about some of the pivotal moments that shaped her views on personal finance, such as discovering the power of compound interest and finding an entire support system through the FI community!

In This Episode We Cover

How Emma became Coast FI by twenty-four and built a $99,000 net worth

Creative ways to fund your college education and escape debt-free

The real value of buying used cars from private owners (and where to find deals!)

How to create a fun and fulfilling life you don’t want to retire from

How to fast-track your fortune using the power of compound interest

Making your money work harder for you after stockpiling cash

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