Set For Life! - Podcast Episode 223 with Scott Trench

[Mindy Jensen]

Our very own Scott Trench has written an amazing book called Set For Life: Dominate Life, Money and the American Dream . 

On this episode of The BiggerPockets Podcast, he talks about his book, how to get ahead in life, house hacking, increasing your income, decreasing your expenses plus a whole lot more.

Download with your favorite podcast app or  listen here .

[Linda Weygant]

Originally posted by @Andrey Y.:

 What's your view on a 401k? I stopped contributing in 2015 when I learned its one of the "biggest lies ever told". However, my employer will start doing a 5% match in 2018 (previously no match).

I spent $7.35 on coffee products today (craziest day at work). Sheesh, I feel so unfrugal!

 Employer match in a 401k is essentially free money, tax free.  I would always contribute to 401k to get the maximum employer match, and not a penny more.

Most workers switch employers ever 2-3 years. If you're in this boat, roll your 401k (hopefully fully or mostly vested at that point) into a self directed IRA and you've got a nice chunk of change to start investing with outside of the mutual fund market.

Don't sweat the coffees.  If you're miserable while you're working towards your goals, what's the point of life?  Future success isn't predicated on current misery.  Allow yourself the little pleasures, just make sure they aren't adding up to sabotage you.