Almost every age group wants to know how to retire in ten years. Whether you’re in your teens, your mid-thirties, or your mid-fifties, retirement can seem like an eternity away. Those who retire early and find financial freedom tend to do so through a combination of smart investing, early saving, and a tenacity for budgeting (without giving up everything they love). But what if you don’t have time on your side? What if you’re still paying off debt? Is it still possible to retire?
Thankfully for today’s guest Rik, and all you listeners at home, we can safely say that retirement is in reach, even if you feel like you’re a little off track. Rik has three degrees and as a result, is strapped with some moderate student debt. He wants to retire in five to ten years and realizes that it will take some work to get him in that position. Thankfully, he has some hands-on real estate investing experience—owning a duplex and performing a live in flip on his primary residence.
Rik is more than willing to get his hands dirty in his pursuit of early retirement, whether that means doing remodels himself, limiting his booze budget, or simply living a little leaner. With some smart investments under his belt, he’s been able to set himself up in a good position to take on more projects, have smarter debt, and keep more cash. But, Rik will need to take care of a few things first before he can continue building this retirement runway that’s already underway.
Mindy:
Welcome to the BiggerPockets Money Podcast, show number 302, finance Friday edition, where we interview Rick and talk about cutting your spending and analyzing your real estate investments.
Mindy:
Hello. Hello. Hello. My name is Mindy Jensen, and joining me today is my inquisitive co-host, Scott Trench.
Scott:
Never question your intros Mindy, though, but thank you. Thank you very much for another good show today.
Mindy:
Scott, thank you for a good show today. This is a great show. Scott and I are here to make…