Is a six-figure salary enough to achieve FIRE? If you’re working towards financial independence, you know that any extra money at the end of the month can help propel you to your goals faster, but with inflation eating away most, if not all, of your paycheck, what do you do? If you want to reach early retirement, do you need a massive salary to save you from the high cost of rent, food, gas, and other everyday essentials? Or, can you easily retire with a $100K/year incomeif you make the right moves? Let’s find out!Today, Scott and Kyle are reviewing some of the hottest headlines in the world of personal finance and giving you their honest opinions. First, we talk about whether or not a six-figure salary is enough to achieve the “American Dream,” and if it isn’t, what YOU can do to make the most of that money. Then, we venture to a debate that everyone has an opinion on: should you withdraw from your retirement reserves to buy your first primary residence? Is this a smart money loophole or a move that could cost you in the long run?How much do you need to retire? According to Americans, the figure is close to $1.5M, but is this actually how much a smart saver or spender would need? Plus, we talk about the one generation on a surprisingly great track to wealth in retirement (it’s NOT the boomers!). Finally, are you fed up with guilt tipping? Don’t want to pay an extra quarter of your bill every time you go out to eat? Join the club because we’re discussing how tipping is getting out of control.In This Episode We CoverWhether or not a $100K/year income is enough to achieve the “American Dream”Using retirement funds to pay for your primary residence (when NOT to do this)How much Americans need to retire, and ways to retire with even lessThe one real estate investment ANY young American should be making todayWhy younger generations are on track to retire rich and achieve FIRETipping culture and what percentage we press when the payment screen turns aroundAnd So Much More!Links from the ShowBiggerPockets Money Facebook GroupNetwork with Other Investors on The Path to FIRE Through the BiggerPockets ForumsFinance Review Guest OnboardingJoin BiggerPockets for FREEMindy on BiggerPocketsListen to All Your Favorite BiggerPockets Podcasts in One PlaceApply to Be a Guest on The Money ShowPodcast Talent Search!Money MomentFind an Investor-Friendly Agent in Your AreaFind Investor-Friendly LendersGrab the Personal Finance Classic, “Rich Dad Poor Dad”BiggerPockets Money Podcast 344 - Rethink Social Security: Myths, Benefits, and Clearing Up MisconceptionsArticles from This Episode:$100K/YearWithdrawing from RetirementHow Much to RetireGen Z’s House HackingGuilt TippingCheck out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-523 Learn more about your ad choices. Visit megaphone.fm/adchoicesSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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“What did the council decide on item 42?” — answered with the speaker and the moment.

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