BiggerPockets Money11 Jul 2022

317: Early Retirement by 30 with $20K/Month in (Actually) Passive Income

Early retirement is something people in their forties and fifties do, right? It would seem almost impossible for someone to retire in their mid/late twenties or early thirties without a large inheritance or winning the lottery. Today you’ll meet the woman who did the impossible—Rachel “Money Honey” Richards. Her voice may sound familiar as not so long ago Rachel was a guest on The BiggerPockets Real Estate Podcast where she talked about retiring in just two years thanks to “aggressive” real estate investing.

This time, Rachel talks about the more “passive” income streams she built over her twenties, allowing her and her husband to travel the world while making an enviable income, much of which requires little to no effort from Rachel. It’s not surprising that Rachel came from a finance-first background, working as a financial advisor immediately after college. She’s had multiple jobs in a variety of industries but knew running her own ship was where she was meant to be.

Fast forward a few years and Rachel has a strong real estate portfolio, bestselling financial literacy books, an exclusive mastermind and coaching program, as well as courses to help women feel empowered by finances, not afraid. Rachel is the embodiment of putting your future self first, and you’ll probably do the same after hearing about how she got here.

In This Episode We Cover

Using your age as a benefit and how to get around clients/customers judging you by your youth

Where to find the most cash-flowing real estate deals that no one else knows about

Living frugally as you make more money and resisting lifestyle creep at all costs

The multitude of passive income streams almost anyone can create

Selling your rental properties in 2022 and why the “passive” landlord dream isn’t all it’s cracked up to be

Imposter syndrome and why self-doubt could be costing you tens of thousands

And So Much More!

Links from the Show

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Check Out Mindy’s 2022 Live Spending Tracker and Budget

Retiring in 2 years Through “Aggressive” Rental Property Investing with Rachel Richards

MoneyHoney Website

Download Rachel's "Passive Income Starter Kit"

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