Leaving the security of a W2 job for the flexibility of real estate How to create work-life balance on your journey toward FIRE If your FIRE journey is causing you to burn the candle at both ends, this is an episode you won’t want to miss! Mindy and our guest co-host, Kyle Mast, share their perspectives on quitting your W2 job, finding work-life balance through real estate, and when it might be time to pump the brakes on your journey toward early retirement! As parents of four young children, they don’t want their busy work lives to keep them from what matters most. Although the security of her husband’s reliable W2 income has allowed them to cover all of their expenses, invest in real estate, and grow their nest egg, they are quickly reaching a breaking point. Welcome back to another episode of the BiggerPockets Money podcast! Today’s guest, Amanda, has spent the last four years grinding toward an early retirement. If you’re feeling this way, you’re not alone! That’s massive! Mindy and Scott go through Mike’s options, such as selling and putting the leftover profit into cash-flowing assets, or 1031 exchanging into a more diverse real estate investment.Is your W2 job causing you to burn out? You have dreams of achieving financial independence and retiring early, but the unrelenting demands of your nine-to-five job are causing you to work around the clock and miss precious moments with loved ones. One, located in San Francisco, has netted close to $700k in equity since its purchase 12 years ago. He has rental properties that have highly appreciated, but are having cash flow problems due to COVID-19. He doesn’t have a lot of interest in starting a business or buying more real estate, but wants to squeeze out more money or savings if he can. As technology has evolved, Mike is predicting an end to his specific role over the next decade, and is wondering what he should do next. Mike has worked in the music industry for years, moving all around the US to do his job. What do you do when you have a multi-million dollar net worth, appreciating properties, a maxed out 401(k), and a solid safety reserve? That’s exactly the question that today’s guest, Mike, has. Mindy and Scott don’t often get stumped on the Money Show, but it happens once in a great while.
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