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Updated over 5 years ago,

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3
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1
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Richard Escajeda
  • Los Angeles, CA
1
Votes |
3
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“I will teach you to be rich” application real estate

Richard Escajeda
  • Los Angeles, CA
Posted

I just finished reading Ramit Sethi book called “I will Teach You To Be Rich” I loved the book currently applying steps in the book. My only issue is its not really real estate investor friendly.

He mentions his ladder of personal finance

Rung 1: invest in 401k for work to get at minimum a match

-done no brainer

Rung 2: pay off all debt

- done school loans finally gone :)

Rung 3: Open roth Ira and contribute as much as possible to max out

- I was considering rolling my old job 401k into this and add like $50 a month to keep it growing

-I know roths have the potential to be used in real estate, don’t know specifics I’m still a newbie.

Rung 4: If you have money left over increase contribution to 401k max if you can.

-I would prefer to save this extra money on an online savings account to save up for my next house.

...Theres a few more rungs if you have more money to invest but their not really applicable to me

What I’m asking is how can I tweak this personal finance system in favor of real estate intelligently. Open to any ideas and discussion.

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