Episode #507

Everyone wants to reach financial independence as soon as possible. But if you really want to get on the path to early FI, you’ve got to start making savvy money decisions TODAY. And we’ve got a few tips, tricks, and tools that will help you out!

Welcome back to the “BiggerPockets Money” podcast! In this episode, Mindy and Amanda Wolfe are fielding questions from the r/PersonalFinance subreddit and delivering their best money tips for scenarios that YOU could easily find yourself in. First, we get into 401(k) accounts and some of the different ways to transfer funds when you leave your employer. We also go over some of the different strategies for budgeting, investing, and saving money that will help you reach financial freedom early.

But that’s not all! If you live in an area with a competitive housing market, we discuss whether you should ever waive a home inspection to help sweeten your offer. We even talk about the idea of buying a house outright versus going the route of a traditional mortgage. Is a large car payment thwarting your path to financial freedom? Stay tuned for a few creative ways to get rid of that bad debt for good!


Show Notes at:
https://link.chtbl.com/Money
~~~~
Join BiggerPockets for FREE 👇
https://www.biggerpockets.com/signup?utm_source=owned_media
~~~~
Join the BiggerPockets Money Facebook Group:
https://www.facebook.com/groups/bpmoney
~~~~
Find an Investor-Friendly Agent in Your Area:
https://biggerpockets.com/agentmatch
~~~~
Find Investor-Friendly Lenders:
https://biggerpockets.com/findlenders
~~~~
Subscribe to the BiggerPockets Money YouTube Channel:
https://www.youtube.com/biggerpocketsmoney
~~~~
The Millionaire Fast-Track: How to Hit Financial Freedom Before 30:
https://www.biggerpockets.com/blog/money-480?utm_source=youtube&utm_medium=description&utm_campaign=none
~~~~
How to Pull Yourself Out of Car, Student, or Credit Card Debt:
https://www.biggerpockets.com/blog/money-461?utm_source=youtube&utm_medium=description&utm_campaign=none
~~~~
Connect with Amanda:
Website: https://www.shewolfeofwallstreet.com
Instagram: @shewolfeofwallstreet or https://www.instagram.com/shewolfeofwallstreet
~~~~
Want to Be a Guest on the BiggerPockets Money Show? Apply Here:
Guests: https://www.biggerpockets.com/guest?utm_source=youtube&utm_medium=description&utm_campaign=none
Finance Friday: https://www.biggerpockets.com/financereview?utm_source=youtube&utm_medium=description&utm_campaign=none
~~~~
Connect with Mindy on BiggerPockets: https://www.biggerpockets.com/users/mindyjensen?utm_source=youtube&utm_medium=description&utm_campaign=none


00:00 Intro

01:03 Transferring 401(k) Funds

06:58 Do I NEED a Mortgage?

14:07 Wiping Out BAD Car Debt

22:00 Should You Waive a Home Inspection?

28:52 The Path to Early FI

35:51 Connect with Amanda!