The Realistic, Repeatable Path to Investing for FIRE in Your 20s

The Realistic, Repeatable Path to Investing for FIRE in Your 20s

Young, old, or in between, you need to hear this episode! Today’s guest paid off over $80,000 of debt, grew her net worth to $100,000 and did it all just years after graduating from college without a sky-high income. How did she make such quick progress, and what’s her secret to skyrocketing her net worth early in her career? She’s sharing it all in this episode, and you (no matter your age) can follow her repeatable path, too!

Want to see your net worth leap so you can fast-track your road to FIRE? Anna Foley is the person you should listen to. Through common-sense smart spending, diligent investing, and salary-increasing career pivots, Anna and her partner went from $80,000 debt to debt-free and finally hit six-figure net worth status. The best part? They did all of it WITHOUT giving up what makes life enjoyable, and they still sport a phenomenal savings rate!

Anna is sharing how she saves a significant portion of her income every month, why she decided to rent (not buy) a house, how “paying yourself first” can get you debt-free before you know it, and why she does NOT follow the traditional advice of chasing a “FIRE number.” In your twenties? Copy Anna’s plan! Closer to retirement? Follow Anna’s smart saving and investing tactics, and you can get there faster!


In This Episode We Cover

How to become debt-free and achieve a six-figure net worth before you’re thirty!

Why Anna decided to rent a house, not buy one, to maximize her savings

What Anna invests 100% of her income in (it’s not real estate!)

The “middle-class trap” to avoid when maxing out your retirement accounts

Why you DON’T need a FIRE number, and why Anna’s more achievable goals work better

Boosting your income and why job-hopping can explode your income-generating potential

And So Much More!


Links from the Show

Mindy on BiggerPockets

Scott on BiggerPockets

Listen to All Your Favorite BiggerPockets Podcasts in One Place

Join BiggerPockets for FREE

@five20money on Instagram

PassivePockets

BiggerPockets Forums

BiggerPockets Money 97 - Intentionally Choosing the Path to Financial Independence with Financial Mechanic

BiggerPockets Money 110 - Systematically Increasing Income and Intentionally Decreasing Spending with A Purple Life

BiggerPockets Money 558 - How to Start Investing for Retirement: 401(k), IRA, Roth?

BiggerPockets Money 560 - Dude ACTUALLY Withdraws From His 401(k) and Retires at 47

Email Your Savings Rate to mindy@biggerpockets.com!

Support Today’s Show Sponsor, BAM Capital, Your Path to Generational Wealth with Premier Real Estate Investment Opportunities

Reach FIRE Faster with “Set for Life”

Find an Investor-Friendly Agent in Your Area

See Mindy and Scott at BPCON2024 in Cancun!

Finance Friday: How the “Middle-Class Trap” Stops Your Early Retirement

Connect with Anna


(00:00) Intro

(01:10) Investing Right After College

(03:00) Rent, Don’t Buy!

(08:58) Paying Off $80K in Debt

(12:42) Investing for Financial Independence

(16:16) Saving a TON!

(21:11) Better Than a “FI Number”

(25:27) Boosting Your Income

(27:19) Do This FIRST!

(29:11) Connect with Anna!


Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-567


Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com

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

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Denne episoden er hentet fra en åpen RSS-feed og er ikke publisert av Podme. Den kan derfor inneholde annonser.

Episoder(802)

Did Buying a House Ruin Her Path to Financial Independence?

Did Buying a House Ruin Her Path to Financial Independence?

What if you had $1 million invested for financial independence at just 36, but still worried that buying a home could derail your early retirement plans? Cheryl and her family have two young kids, a $...

9 Okt 46min

Best of BiggerPockets Money: Ben Felix on the 4% Rule

Best of BiggerPockets Money: Ben Felix on the 4% Rule

How much can you safely withdraw in early retirement, and is the 4% rule still a good guideline? Ben Felix breaks down portfolio risk, asset allocation, bonds vs. stocks, flexible spending, and the ps...

8 Okt 26min

Is House Hacking Dead in 2026? How to Find Deals That Still Work

Is House Hacking Dead in 2026? How to Find Deals That Still Work

Is house hacking still a good strategy for reaching financial independence in 2026? Scott Trench and Evan Lawler break down a real house-hacking opportunity, looking at mortgage costs, cash flow, mark...

7 Okt 31min

How Much Can You Safely Withdraw in Early Retirement? | Christine Benz

How Much Can You Safely Withdraw in Early Retirement? | Christine Benz

How much do you actually need to retire, and once you get there, how do you turn your portfolio into income without running out of money? In this episode, Christine Benz from Morningstar joins us to t...

6 Okt 46min

J Scott Explains Inflation, Interest Rates & the Economy

J Scott Explains Inflation, Interest Rates & the Economy

What is happening with inflation, interest rates, energy prices, and the economy, and what does it mean for investors? In this episode of the BiggerPockets Money Podcast, Mindy Jensen and Scott Trench...

2 Okt 54min

Want to Reach FI Faster? These Careers Give You the Biggest Advantage

Want to Reach FI Faster? These Careers Give You the Biggest Advantage

What are the best careers for reaching financial independence? In this episode of the BiggerPockets Money Podcast, Mindy Jensen and Evan Lawler explore careers that can accelerate your path to FI. The...

30 Sep 23min

Naseema Went Bankrupt at 25, Became a Single Mom at 30, and Built $1.3M by 45

Naseema Went Bankrupt at 25, Became a Single Mom at 30, and Built $1.3M by 45

How do you go from nearly $1 million in debt to building a $1.3 million net worth? In this BiggerPockets Money episode, hosts Mindy Jensen and Scott Trench sit down with Naseema McElroy to hear how sh...

29 Sep 44min

How She Went From $18K in Debt to Nearly $1 Million in 6 Years

How She Went From $18K in Debt to Nearly $1 Million in 6 Years

How do you go from $18,000 in debt to nearly $1 million in just six years? On the BiggerPockets Money Podcast, Mindy Jensen and Scott Trench sit down with Kate to unpack the money decisions that compl...

25 Sep 51min

Populært innen Business og økonomi

stopp-verden
dine-penger-pengeradet
rss-penger-polser-og-politikk
e24-podden
rss-borsmorgen-okonominyhetene
rss-skravla-gar
rss-pa-konto
rss-orjasater
tid-er-penger-en-podcast-med-peter-warren
livet-pa-veien-med-jan-erik-larssen
utbytte
pengepodden-2
finansredaksjonen
lederpodden
morgenkaffen-med-finansavisen
stormkast-med-valebrokk-stordalen
liberal-halvtime
rss-markedspuls-2
rss-fa-makro
pengesnakk