552: From Making $40K/Year as a Teacher to Reaching FI in 4 Years by Doing THIS

BiggerPockets Money Podcast

BiggerPockets

Investing, Education, Business

4.6 • 2.9K Ratings

🗓️ 6 August 2024

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

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Summary

You can take your time to reach financial independence, but why wait? With a combination of hard work, savvy investing, and additional income streams, today’s guest reached FI by the age of twenty-eight. In this episode, she provides the blueprint that teachers and other middle-class workers can use to fast-track their financial goals! Welcome back to the BiggerPockets Money podcast! Today, Brooke Coughlin is a business owner, real estate agent, investor, and author. But, just FOUR years ago, she was a seventh-grade teacher earning a $40,000 salary. The key to her rapid success? Brooke’s workday starts at 5 a.m. and ends well after 10 p.m. This relentless work ethic has helped her build a successful cleaning business, sell over $100 million worth of real estate, and pen her very own book! Now, working from sunup to sundown isn’t for everyone. Perhaps you just want a reasonable nest egg for a comfortable retirement or some money to pass down to your children. Whatever your financial goals, there are all kinds of helpful nuggets to take away from today’s episode. You’ll learn about the first steps of entrepreneurship, how to build a business or side hustle alongside your W2 job, and how to become financially free from any starting point! In This Episode We Cover How Brooke went from a $40,000 salary to financial independence in FOUR years The BEST ways to increase your income while working a nine-to-five job What teachers should do today to build a nest egg for retirement The first steps you must take to become a successful entrepreneur How to build a real estate business that allows you to leave your W2 job And So Much More! Links from the Show BiggerPockets Money Facebook Group Network with Other Investors on The Path to FIRE Through the BiggerPockets Forums Finance Review Guest Onboarding Join BiggerPockets for FREE Mindy on BiggerPockets Scott on BiggePockets Listen to All Your Favorite BiggerPockets Podcasts in One Place Apply to Be a Guest on The Money Show Podcast Talent Search! Find an Investor-Friendly Agent in Your Area Find Investor-Friendly Lenders Property Manager Finder Connect with Brooke on Instagram Preorder Brooke’s Book, “She Closes Deals” 00:00 Intro 00:58 Supercharging Her Income 09:49 Juggling a HEAVY Workload 12:00 Brooke’s Real Estate Portfolio 16:03 What’s Brooke’s End Goal? 25:06 Connect with Brooke! 25:50 Start Building Your Nest Egg! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-522 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Brooke Coughlin thought that she would be a seventh grade teacher making 40 grand a year for her entire career.
0:05.4	Instead, she hit five by the age of 28. Today we're going to find out how that happened.
0:10.3	Hello, hello, hello, and welcome to the BiggerPockets Money Podcast.
0:13.0	My name is Scott Trench, and while Mindy is off traveling for the week, I am joined by Kyle Mast.
0:18.0	Thanks for joining me today, Kyle.
0:19.0	Oh yeah, it's good to be here, Scott, and we've got a fun one today to chat with Brooke about how she became financial independent.
0:25.0	Yes, bigger Puckets has a goal of creating 1 million financial independence.
0:28.6	Made up that term, really like it.
0:30.0	You are in the right place if you want to get your financial house in order because we truly believe that financial independence is attainable for everyone no matter when or where you're starting.
0:38.0	Today we're going to hear how Brooke left her W-2 in just four years, you heard me, four years,
0:43.8	and how her life changed completely after that.
0:45.9	We're gonna discuss how to increase your income,
0:47.7	when it's time to leave your W-2,
0:49.3	why you should diversify your investments
0:51.2	and a lot more.
0:52.0	So without further ado, Brooke, welcome to Bigger Pocket's Money.
0:55.1	Hello, Kyle, hello Scott.
0:56.7	Thank you so much for having me today.
0:58.9	We're so excited to have you and hear about this awesome story.
1:01.6	Can you tell us a little bit about your financial situation when you decided to start your fire journey?
1:05.5	Of course. If you asked me five years ago, ten years ago, if I'd ever be where I am today,
1:12.0	I would tell you, absolutely not.
	...

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