Link to the Show: 009 – The Ultimate Real Estate Retirement Plan with Chard Carson
I started listening to the Bigger Pockets Money Podcast towards the beginning of 2020. I listened to this episode on July 18 & 19th, 2021 and mades some notes.
The focus of creating this article is to track my thoughts and review of each episode. My memory sucks so having a place on this blog to keep my notes was perfect.
Highlights
I like to listen to the full episode and then write what sticks out for me. There is always a lot of useful information and discussion that occurs during the show, but the following bullet points are what sticks out for me.
- Chad is sell-taught, and did this by observation. He had friends or close people who he could observe working on businesses and real estate. He also mentioned his parents fixing up old houses.
- Chad lived well below his means right out of college.
- Work hard for a while, then take time off, 3 months, 6 months, etc philosophy.
- Money and real estate are just the tools needed to live the lifestyle you want.
- Always have cash reserves. Something always breaks when you buy a house.
Famous 4
Question: What is your favorite finance book:
Answer: Your Money or Your Life: 9 Steps to Transforming Your Relationship with Money and Achieving Financial Independence: Fully Revised and Updated for 2018
Answer: The 4-Hour Workweek: Escape 9-5, Live Anywhere, and Join the New Rich
Answer: The Millionaire Next Door: The Surprising Secrets of America’s Wealthy
Question: What is the biggest mistake money/finance?
Answer: Getting careless on running the numbers when negotiating with sellers.
Question: What is your best piece of advise just starting out?
Answer: Pick your own roll models, but really think about what you want out of life. Spend time reflecting on this.
Set for Life: Dominate Life, Money, and the American Dream (Financial Freedom, 1)
Question: What is your favorite joke to tell at parties?
Answer: Did not have a joke, but mentioned being a tall gringo dancing at a bar where he is currently residing in Ecuador.
Review
I enjoyed listening to Chad. I’m also impressed that he is living in Ecuador and doing something that I had envisioned in the past. I actually think I have learning Spanish in a foreign country on my bucket list. So it is great to hear someone who is actually doing this.
Impressive that he is self-taught and that he was able to curb his spending and lifestyle right out of college. It is impressive hearing from people who are able to skirt the norm and the trends of society. I love the story of his dad dropping him off at a foreclosure to work at cleaning it up at such a young age. Child labor, Love it.
