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.
