Laying a strong financial foundation can be easier working in a high-income industry, like the tech industry. In tech, you could be working as an engineer, programmer, or statistician, like today’s guest Matthew. But, Matthew never planned to go to school for this type of work. Half a decade ago, Matthew was wearing a chef’s apron, working forty to sixty-hour weeks, making slightly above minimum wage. He loved the work (and the food) but realized he couldn’t keep living with the long hours, low wages, and high stress.
Mathew went back to school to study statistics and landed a job in tech, which he’s just recently moved on from, and accepted a far higher salary. This all sounds like good news, so what exactly is Matthew having trouble with?
After maxing out many of his retirement accounts, Matthew is wondering where else he should be putting his money. He’s already saving a significant amount every month, thanks to his frugal lifestyle, but wants to be sure he’s standing on a strong financial foundation. Should he look into rental properties, taxable brokerage accounts, or higher-risk assets like tech stocks and crypto? If you’re lucky enough to have a little extra change left over at the end of every month, you may be in Matthew’s position too!
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Join the BiggerPockets Money Facebook Group:
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Episode 200 on All Things Retirement with Kyle Mast:
https://www.biggerpockets.com/blog/biggerpockets-money-podcast-kyle-mast ~~~~
Top 5 Hacks To Maximize Retirement Savings:
https://www.biggerpockets.com/blog/top-5-hacks-maximize-retirement-savings ~~~~
Is a Live In Flip Right for You? Here’s How to Tell:
https://www.biggerpockets.com/blog/live-in-flip ~~~~
The Mad Fientist: Traditional IRA or Roth IRA – Which one should you contribute to?
https://www.madfientist.com/traditional-ira-vs-roth-ira/ ~~~~
Want to Be a Guest on the BiggerPockets Money Show? Apply Here:
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https://www.instagram.com/mindyatbp/ Episode 250
Show notes at:
https://www.biggerpockets.com/moneyshow250 0:00 Intro
2:52 Trading Chef Wages for a Tech Salary
15:55 Financial Goals
16:42 Buying Assets and Building His Foundation
21:34 Income and Expenses
26:48 Assets and Liabilities
33:25 More Investing & A Potential for Rentals
48:50 Life Beyond Work
57:16 Live In Flip Tips
1:00:27 Famous Three (Friday Special!)
1:03:12 Wrapping Up Matt’s Money Journey
