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 215: FI: More Than Retirement, a Chance to Take Risks w/ Diania Merriam
After years and years of working in licensing, Diania Merriam opened up her credit report and saw that she was (collectively) $30,000 in debt. This forced her to ask the question, “what am I working for?” It made sense at the moment: you get your paycheck, you can go out to a fancy dinner, you get another paycheck, you can buy yourself something nice. But Diania wasn’t happy, or at least as happy as she thought she’d be.
She realized that she didn’t want to be stuck in a job she had to go to every day. She wanted autonomy, freedom, and financial independence that would allow her to rule over her schedule and pursue her passions and interests. So, she went to work and started saving whatever she could. She stopped eating out, started cooking all her meals, moved to a more inexpensive city, bought a house and house hacked, heavily invested in retirement, and did everything right.
Now, she’s self-employed, hosting the Optimal Finance Daily podcast and the EconoMe Conference in Cincinnati. She was able to create her dream roles because she came from a position of financial strength, she also had a plan in mind and knew what her “worst-case scenario” looked like.
In This Episode We Cover
Getting out of consumer and student debt as quickly as possible
Minimizing expenses and maximizing income to increase savings rates
Building a strong financial runway so you can start your own business
Buying a house and house hacking by renting per room
Understanding your “worst-case scenario” before you take the leap into entrepreneurialism
Finding your passions and cementing what you want to do when you reach FI
And So Much More!
Links from the Show
BiggerPockets Money Facebook Group
BiggerPockets Forums
Finance Review Guest Onboarding
Scott's Instagram
Mindy's Twitter
Get Tickets to BPCon 2021
The Shockingly Simple Math Behind Early Retirement
Get Tickets to the EconoMe Conference and USE CODE BIGGERPOCKETS for a Discount
BiggerPockets Money Podcast 01 with Mr. Money Mustache
BiggerPockets Money Podcast 120 with Michael Kitces
BiggerPockets Money Podcast 153 with Bill Bengen
Grab the House Hacking Strategy
Check the full show notes here: https://www.biggerpockets.com/moneyshow215
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