Business
Starting a strong financial position in your youth is probably the most important thing you can do to hit financial independence. Sometimes that strong position includes maxing out retirement accounts, like Roth IRAs, 401(k)s, or even HSAs (health savings account), but sometimes, it doesn’t. Scott and Mindy talk to Kirsten about the potential option of pausing her retirement contributions to buy a duplex so she can house hack.While this may seem counterintuitive, pausing retirement contributions isn't always a bad thing. This is especially true if you’re trying to do something that will radically change your income or expenses, allowing you to invest more into retirement later on. This episode runs through house hacking, retirement contributions, FHA rules for owner-occupied loans, how to graduate with no debt, and when the best time to have a “money date” is. It doesn’t matter if you’re in your early 20s or mid-40s, these principles are key to having a financially successful life.In This Episode We CoverHow to aggressively invest so you can retire young The importance of side-income and why you should have multiple streams of incomeRoth IRAs, 401(k)s, and HSAs (health savings accounts) Graduating from college debt-freeWhether or not life insurance is necessary for young peopleHaving “money talks” and “money dates” with your partner House hacking and using real estate to catapult your wealthAnd So Much More!See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.