361: Finance Friday: Got Extra Cash? Here’s the Investment Plan for You

Retirement planning is something best started early on. The more time you give yourself to invest, the faster your accounts can grow, giving you early financial independence well before the age of sixty-five. But what are the two best ways to do this? On one hand, you’ve got cash-flowing rentals that appreciate while giving you freedom-enabling income with long-term wealth growth. On the other hand, you’ve got passive retirement accounts , many of which can save you boatloads on taxes and grow discreetly in the background while you work away. It’s hard to say which is a better bet, so why not do both? Today’s guest Benjamin is feeling a little under-diversified after heavily investing in real estate , but without much in his retirement accounts. Benjamin is well versed in the pros and cons of pre and post-tax retirement investing, but with a high income, he’s worried that he may have already reached the income cap for his Roth IRA . Thankfully, he’s unlocked the “holy grail” of retirement accounts, one that will skyrocket his retirement quicker than he thinks. But before all of this is done, Benjamin and his partner need to build their investment plan . This will help them stay the course when life events come up, allowing them to still retire rich , hopefully in less than a decade. If you want to build your own investment plan , we highly recommend using the one from our own Scott Trench! In This Episode We Cover Paying off six figures of student debt and using the extra income to invest heavily House hacking and using primary residences to build wealth Roth IRA investing and what to do if you’ve hit the income limit The best way to invest in your retirement with stocks and index funds The right way to do diversification and safely building wealth at a young age Speeding up your path to financial independence with rental property investing And So Much More! Links from the Show Find an Investor-Friendly Real Estate Agent BiggerPockets Money Facebook Group BiggerPockets Forums Finance Review Guest Onboarding Mindy's Twitter Scott's Instagram Listen to All Your Favorite BiggerPockets Podcasts in One Place Apply to Be a Guest on The Money Show Podcast Talent Search! Subscribe to The “On The Market” YouTube Channel Listen to The “On The Market” Podcast: Spotify , Apple Podcasts , BiggerPockets Check Out Mindy’s 2022 Live Spending Tracker and Budget Fidelity Investments Click here to check the full show notes: https://www.biggerpockets.com/blog/money-361 Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Check out our sponsor page ! Learn more about your ad choices. Visit megaphone.fm/adchoices