Stocks vs. real estate is a regular feud among many financially savvy forums on the internet. While some investors love the passive aspect of stocks, other investors love the tax savings and flexibility of real estate. Regardless of your preferred asset, it’s better to stick your hard-earned money in something that makes money for you, instead of spending it or letting it sit.
Our guest today, Madison, is having trouble deciding which asset class she and her husband are best suited for. They have high-income jobs, a great net worth for their age, and just moved from the expensive San Francisco Bay Area to far more reasonable Texas. They’ll have a lot more money to stash away without the high rent, gas prices, or child care they had in California.
But neither Madison nor her husband have plans to retire early, so should they even plan for early retirement? Scott and Mindy walk Madison through her multiple different investing options, along with giving her the structure to formulate a three, five, and ten-year plan for wealth building and financial freedom. We may hear back from Madison very soon on the progress she’s made!
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Join the BiggerPockets Money Facebook Group:
https://www.facebook.com/groups/bpmoney ~~~~
Episodes Mentioned in Today’s Show:
The Money Date:
https://www.biggerpockets.com/blog/biggerpockets-money-podcast-157-scott-mindy Financial Freedom in Less Than Five Years:
https://www.biggerpockets.com/blog/biggerpockets-money-podcast-11-financial-freedom-in-less-than-five-years-with-joel-fi-180 ~~~~
The Simple Path to Wealth:
https://www.amazon.com/Simple-Path-Wealth-financial-independence/dp/1533667926 ~~~~
Do Not List Your House—Rent It Instead:
https://www.biggerpockets.com/blog/rent-not-sell-your-home ~~~~
Is Real Estate a Better Investment Than Stocks?
https://www.biggerpockets.com/blog/real-estate-vs-stocks-performance ~~~~
Want to Be a Guest on the BiggerPockets Money Show? Apply Here:
Guests: www.biggerpockets.com/guest
Finance Friday: www.biggerpockets.com/financereview
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Follow Scott and Mindy on Instagram:
@scott_trench or
https://www.instagram.com/scott_trench/@mindyatbp or
https://www.instagram.com/mindyatbp/ Episode 260
Show notes at:
https://www.biggerpockets.com/moneyshow260 0:00 Intro
3:08 Income and Expenses
12:17 Assets and Liabilities
13:30 Developing a Vision and Plan
25:22 Different Assets for Different End Goals
31:25 Turning Your Primary Into a Rental
34:23 $10M in 10 Years
54:56 Seeya Soon Madison!
57:16 Choosing from Multiple Options
