Retirement strategies range from simple index fund investing all the way to full-on real estate development deals. What works for some investors won’t work for others. What’s most important to you is knowing what will or won’t work for your lifestyle. Some workers can easily do a couple of fix and flips on the side to generate income, while you may have a sixty-hour workweek, without a lot of free time to start investing in more intense asset classes.
Chris feels just like this. As a working professional with a hectic schedule, he’s concerned that he can’t participate in more “active” income-generating projects like real estate investing. He’s been grinding for decades, making decent money but funneling much of it to pay off expensive student loan bills. When his wife sold her business, an unexpected windfall profit resulted, leaving the couple with more options than they thought.
Now they want to “back into retirement” as easily as possible, while still making wealth-building moves. What’s the best option for them? Stocks, real estate, or focusing on work so they can build a large cash reserve? While Scott and Mindy can’t answer this question for him, Chris is presented with a few good options that’ll help him become a multimillionaire in only a few short years.
Mindy:
Welcome to the Bigger Pockets Money podcast show number 320 Finance Friday edition, where we interview Chris and talk about Zooming out three to five years and thinking about your future portfolio.
Chris:
I’ll tell you what I’m more challenged with than the leverage is the time commitment needed to do it properly and do it effectively. And we listened to the Bigger Pockets Real Estate podcast. We listen to the Rookie podcast. I have struggled with time management with all the different balls we have in the air right now.
Mindy:
Hello. Hello. Hello. My name is Mindy Jensen and with me as always is my Costco clothing wearing cohost, Scott Trench.
Scott:
That’s right,…