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She was originally more concerned about paying off their combined six-figure student loan debt and felt like they weren't in a stable position to start buying real estate. Start investing in real estate with Yieldstreet »They shared the following pieces of advice:1. I went to the library every week and just checked out all these books on real estate and personal finance," Crystal said. "You don't have to buy real estate to get into real estate," Crystal. Use Fundrise to start investing in real estate with as little as $10 »3.

Persons: Franz, Crystal Espanol's, wasn't, Crystal, it's, You'd, they've, that's Organizations: Crystal Espanol, Service, Invest Locations: Wall, Silicon, Philadelphia, Southern California, California

☆ How a 26-year-old was able to quit his corporate job just 7 months after finishing college and hit millionaire status by age 25 by growing his 'infinitely scalable' side hustle into a 7-figure venture
▼ + stars: | 2022-10-15 | by ( A.J. Cohen | ) www.businessinsider.com time to read: +11 min

Berman said that digital products are great for passive income and are 'infinitely scalable.' He said real estate has been lucrative but it is much more work than digital products. When Cody Berman, 26, graduated from college four years ago, he got a high-paying job in commercial real estate lending. At the time he quit his job, Berman was only making between $1,200 and $1,500 per month from his digital products side hustle and other freelance work. In addition to the equity in his properties, Berman also has over $550,000 invested in the stock market, according to documents reviewed by Insider.

☆ A 35-year-old financial coach who was raised in poverty gave 3 pieces of advice for getting and staying out of debt — and shares one thing she wishes she did differently when paying off her student lo
▼ + stars: | 2022-09-24 | by ( A.J. Cohen | ) www.businessinsider.com time to read: +13 min

"I got some grants, but also took out some student loans." I've been paying on these student loans and I still owe the same amount and I don't get why." According to the Federal Reserve, the total amount of consumer debt at the end of 2021 — including mortgages, student loans, auto loans, and credit card debt — was $15.6 trillion. Wolfe gave Insider three tips for getting and staying out of debt — and shared one thing she wishes she did differently when she was paying off her student loans. "It could potentially mean a lifetime of debt," Wolfe said.

☆ A CFP who was rated as one of America's top financial planners in 2021 explains why employees who get restricted stock options should sell as soon as their lock-up ends
▼ + stars: | 2022-09-22 | by ( A.J. Cohen | ) www.businessinsider.com time to read: +5 min

If you've received a job offer that includes equity-based stock options, you may have been offered something called restricted stock units (RSUs). Stock options are more commonly offered, and involve the company giving employees the ability to buy company stock at a discounted price, usually referred to as "strike price" or "exercise." "Research has shown that this is best achieved by receiving market performance via low cost index funds." Index funds are passively managed, low-cost investment funds that places the investor's assets to a portfolio of stocks that are meant to mimic a particular financial market. Index funds are popular with a lot of people striving for early retirement due to their consistency and the longevity on those returns.

☆ A 39-year-old who owns 21 rental homes and recently quit his 9-to-5 after building his real estate portfolio up for 18 years stresses the importance of playing the long game and taking a conservative
▼ + stars: | 2022-09-21 | by ( A.J. Cohen | ) www.businessinsider.com time to read: +10 min

He's built his portfolio over 18 years and stresses the importance of building up sustainably. He prefers fixer-upper properties and invests a lot in his real estate investments. He talks about his real estate investing journey online under the moniker of The Frugal Gay, instructing other aspiring real estate investors as to how he built up his portfolio. Being in the real estate space is something that Brickman actively enjoys. "I really like transforming [my properties]," Brickman said, adding that his "hardest project" was the former home of a hoarder.

☆ According to a financial planner, this is how much you need to save for retirement in order to spend the rest of your income worry-free
▼ + stars: | 2022-09-17 | by ( A.J. Cohen | ) www.businessinsider.com time to read: +6 min

According to CFP Colin Overweg, it's very simple: just save 20% of your income and you'll be fine. Other suggestions for how retirement saving can be expedited is by picking up side hustles. How much you need to save for retirement is going to depend a lot on your age, current income, individual needs, and location. One is the 25x rule, which states that you need to multiply your required annual income by 25 in order to know how much you need to save for retirement. "If you start saving 20% at age 30, you'll be financially independent around age 55 or 60."

☆ While inflation causes many workers and consumers to panic about the economy's future, author and financial planner Roger Ma tells his clients not to panic. Here's why.
▼ + stars: | 2022-09-16 | by ( A.J. Cohen | ) www.businessinsider.com time to read: +7 min

Proactive planning is about keeping your eye on goals and being flexible if circumstances change. In addition to the rising cost of goods, inflation also forces the Federal Reserve to hike up interest rates in an attempt to slow it down. Higher interest rates can make it more difficult for people to buy homes or take out new loans. When you have the Fed raising interest rates, they're trying to control inflation and put the brakes on a red-hot economy," Ma said. Once you've done that, you can go full steam ahead into proactive financial planning.

☆ A 40-year-old software developer who built a hugely popular early-retirement calculator says 2 'boring' tips are helping her reach financial independence
▼ + stars: | 2022-07-14 | by ( A.J. Cohen | Reporter | Read More | ) www.businessinsider.com time to read: +5 min

She created an early-retirement simulator that's been used over 500,000 times in the last year. When asked what methods the couple has used to near their FIRE goal, Boland said they did it "the boring way." She stressed that it's particularly important to keep housing costs low, but understands that this can be a big challenge right now. Shared housing could help keep costs down — for example, splitting costs with family members or having long-term, reliable roommates. Budget for a monthly investment contribution and stick to itAfter you slash your living costs, the next step is simple: Invest what you've saved.

He listed three forms of passive income that are particularly popular with professional athletes after they've stepped off of the field. EndorsementsOkugo said that endorsements and brand sponsorships are the "biggest way" that former professional athletes make money after retirement. Venture capital and real estateOkugo said that many professional athletes also make more traditional investments in order to have passive income. Real estate in particular is increasingly more popular among retired pro athletes. Another thing that many former professional athletes like to get involved in, he said, is venture capital.

Amobi Okugo is a recent retired soccer player and founder of personal finance platform A Frugal Athlete. He said that there are a couple of "rookie mistakes" that many pro athletes make with their money. Okugo said he sees professional athletes make three "rookie mistakes" all the time. If you're making a lot of money, you feel like you have the luxury to spend a lot of money." That said, Okugo sees somewhat of an promising shift currently taking place.

Graham Cochrane is a millionaire business coach and author who has been self-employed for 13 years. In 2009, Graham Cochrane was struggling to put food on the table after two layoffs in one year. "I didn't think I was judgmental back then, but I learned a lot more about people that are struggling," Cochrane said. He learned to balance risk aversion and risk takingWhen Cochrane was struggling to earn money, he was under an immense amount of stress. "That made me a little risk averse," Cochrane said, adding that he developed a fear of scarcity: "What if it all goes away again?"

A side hustle consultant with 12 streams of income shares three questions they're asked the most. Most people want to know how they can set up passive income streams quickly and easily. They shared with Insider the answers to the three most common questions they get about starting a side hustle. How can I make passive income quickly and easily? 1 question they get is: "What is the easiest and quickest way that I can make passive income?"

"It was early on in my research that I realized that passive index investing has the higher likelihood of success." He told Insider that he currently has 95% of his portfolio invested in Vanguard Total Stock Market Index Fund, Vanguard Total International Index Fund, and Vanguard Bond Index Fund. "The stock portion is split between international and total stock market index funds," Brandon said. "I've learned a lot over the years that I really like trying to time the market," Brandon said. As it turns out, Brandon said he "doesn't know better than anyone else, because I would've been better off keeping it in Vanguard total index fund."

Brandon, a podcaster known as "Mad Fientist," became financially independent and quit his job 6 years ago. Without routine, he doesn't find time for the creative projects he originally retired to do. "It took me about three years to find the perfect balance between work and fun and develop my routine," Brandon said. His gym routine sets the tone for his entire dayBrandon told Insider the first thing he does every morning when he wakes up is go to the gym to work out. For this reason, Brandon tries to get time for his passion projects in during the early hours of the day, before "self-doubt can creep in."

Financial advisor Kevin Matthews says clients won't stop asking him about cryptocurrency. It's important to know why you want to invest in crypto, how much, and what your risk tolerance is. Matthews said asking this question causes a lot of his clients to pause and rethink their next steps. He added that almost none of his clients are interested in investing any more than 5% of their total portfolio in crypto. Overall, his younger clients ask more about new digital asset classes — like NFTs.

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