For those who have money… or want more of it! Join Mindy Jensen and Scott Trench (from BiggerPockets.com) weekly for the BiggerPockets Money Podcast. Each week, financial experts Mindy and Scott interview unique and powerful thought leaders about how to earn more, keep more, spend smarter, and grow wealth.
https://www.biggerpockets.com/podcasts/money
episode 210: Finance Friday: Should I Leave Teaching to Pursue Greater Income?
Teachers do a lot more than we give them credit for (as shown throughout the past year and a half), but sadly, they don’t get paid terribly high salaries. Today’s guest, Stephanie, is a music teacher for young children and is debating whether or not she should make a career change to up her income to higher levels. Stephanie has a good amount in savings and investments but wants to take on a duplex to house hack and save money on monthly housing costs.
Scott and Mindy walk through the pros and cons of house hacking and answer questions about live in flips. The best part about Stephanie’s story is that she has the option to move anywhere in the United States. She has nothing holding her to New Jersey and may be keen to move out due to the high taxes she has to pay.
With the combination of a career change and the potential to do a live in flip/house hack on the horizon, Stephanie has a lot of great (and broad) options to help her reach financial independence!
In This Episode We Cover
Changing careers to maximize financial independence goals
Starting a side hustle so you can earn extra income
Roth IRAs, 401(k)s, and Solo IRAs
House hacking as a means to not only cut housing expenses but build wealth
Who should (and shouldn’t) do a live in flip
Should you pay off low-interest debt or invest?
And So Much More!
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