This idea stresses me out, so I'll stick to maximizing my Roth IRA and my consistent wage job. I’d recommend it to anyone still in their 20’s or early 30’s who wants earlier financial freedom and mor. It's worth picking up to read the conclusion and/or the chapter summaries. Read any highly ranked personal finance book instead of this one. This should buy you one year of financial freedom runway so you don't have to work but can still pay your bills for a year. Scott Trench was able to summarize countless personal finance articles, podcast, and other media for which I have received my own mindset about finance and life as a whole. Set for Life | Scott Trench. Now to read this? In addition to reading this book I highly suggest checking out Scott's podcast on biggerpockets.com as well as all the other great reso. Drawbacks would be that at times, this book is overly simplistic and that this book would not be relevant for someone with a stronger FIRE understanding. 2) Buy a duplex in an "okay" but not great area, fix it up and rent out half, plus maybe some of the extra bedrooms in your half 3) Live on $1500/month and save the rest until you have $25K. BiggerPockets is a great resource for all things Real Estate Investing. Six Steps to Eliminating Debt & Repairing Credit, Four Audio Interviews with Personal Finance Experts, BP Podcast 223: How to Become "Set for Life" with Scott Trench. As a disclosure, some of the links in this post are affiliate links, meaning, we can earn a commission on any purchases made through the link, without any additional cost to you! An interview with Scott Trench from Bigger Pockets on the creation of good luck, his background and journey to FI and using house hacks to reach wealth. Scott Trench is CEO of BiggerPockets, co-host of the BiggerPockets Money Podcast, a real estate investor, real estate broker, and bestselling author.Through a solid understanding of money … This idea stresses me out, so I'll stick to maximizing my Roth IRA and my consistent wage job. Life is not all about money, but making sacrifices and choices that help you have more freedom can allow you more time to focus on the important things. Good Principles and Clearly-laid out plan. Scott Trench is the CEO of Bigger Pockets, the popular real estate investing community, and one of the smartest people I know when it comes to money. The author talks a lot about "house hacking" and real estate investing as a way to create wealth quickly. This book is meant for a young person living in the USA, earning around $50,000 per year and has ambitions of financial independence/early retirement (FI). Takeaways: 1) Get rid of your commute by living close enough to work (but not in a pricey neighborhood) to bike or walk. Pulitzer Prize–winning literary critic Michiko Kakutani, the former chief book critic of The New York Times, is the author of the newly... Set yourself up for life as early as possible and enjoy life on your terms! We’d love your help. Struck a nice balance between all of these things without being too dogmatic or overzealous. Standard economy shipping is always FREE, but you can upgrade if you'd like to receive your book faster. Scott currently lives in Denver, Colorado and enjoys skiing, rugby, craft beers, and terrible punny jokes. It's about financial freedom, but it is really only applicable to those in their 20s or early 30s, living in an area of the country that's not terribly expensive. I first read Dave Ramsey’s Total Money Makeover a couple years ago and got all the way through each baby step to step 5, still working on step 6. A reader would be better off reading a biggerpockets blog post on house hacking instead of this book (. In his bestselling book, Set for Life, he shares the knowledge that he has acquired so others will have the tools they need to repeat his results in just 3–5 years, giving them the option to go anywhere they want in the world, work any job, start any business, or finish out the journey to financial independence and retire young. The 2019 Porchlight Business Book of the Year. Quick review: This book is excellent for anyone new to the idea of retiring early, particularly with difficulty saving and understanding the first steps to financial freedom.Scott Trench is honest and offers encouragement based on the average wage earner. I appreciated the insights here and want to work on being more intentional and keeping better records, but I'm not running out to look for investment properties or roommates right now. Congratulations to Don't Be Evil by Rana Forhoohar, a "penetrating indictment of how today’s largest tech companies are hijacking our data, our livelihoods, our social fabric, and our minds." In short, the author's goal is to guide the reader to generating wealth quickly much faster than the standard retirement age of 66, so that the reader can enjoy more of their prime years. I think my biggest take away from this book was the importance, While this is not my exact idea for managing finances, I found some interesting and helpful insights. Through a solid understanding of money management, calculated risks, and a lot of hard work, he has created financial freedom for himself as well as a successful real estate business in just three years after graduating college. In his book Set For Life, he walks you through a three … He teaches how to build enough passive income to retire within 10-15 years through calculated work, investing, and saving. folks will find a lot that doesn't apply. In addition to reading this book I highly suggest checking out Scott's … Retirement accounts, home equity, car equity etc. A must read for young folks. This is THE best personal financial book I have EVER read. Book to Screen In the News Video Interviews Fully Booked Podcast. His book should be an inspiration to anyone starting in a similar life position. ‎Preview and download books by Scott Trench, including Set for Life. BiggerPockets … It's another reminder for me to not let (borrowing words from Paula Pant) "the tax tail wag the dog". Learn to build a stable financial foundation that will carry you through times of economic uncertainty. Read this to get your money roadmap for life, then if you’re in stage 1 and 2, read total money makeover by dave ramsey. Six Steps to Eliminating Debt & Repairing Credit, a 25-page ebook by Scott Trench, will take your financial skills to the next level! 1 Star - I hated it 2 Stars - … A thorough guide to house hacking! This book is meant for a young person living in the USA, earning around $50,000 per year and has ambitions of financial independence/early retirement (FI). But you must … Scott Trench is the author of this book. Scott Trench, President of BiggerPockets, Denver, CO - BiggerPockets Profile. My thought, though, was that if you are so focused on the financial goals you may miss some of the other life purposes as you're getting there, at least I might. This book provides surprisingly sound advice on how to bootstrap wealth generation, on the whole, with a few exceptions on his numbers and the last "stage" of his plan. Building wealth is always possible, even while working full-time, earning a median income, and making up for a negative net worth. Buy Books… Featured Book. Are you tied to a nine-to-five workweek? Would you like to “retire” from wage-paying work within ten years? Brief Summary of Book: Set for Life: Dominate Life, Money, and the American Dream by Scott Trench. To see what your friends thought of this book, Set for Life: Dominate Life, Money, and the American Dream. Pleasantly surprised by this bootstrap financial/life/career/goals self-help book. Purchases from the BiggerPockets Bookstore can only ship within the United States. 2016 2015 2014. Scott Trench, President of BiggerPockets, Denver, CO - BiggerPockets Profile. Nearly two and a half hours of content, including interviews with Erin Lowry, JP Livingston, Geoff Woods, and Mrs. Frugalwoods. Learn to build a stable financial foundation that will carry you through times of economic uncertainty. A really interesting take on finance -- the main point here is to 1) get out of debt, and save until you have a "financial runway" of $10K or so, 2) identify your major areas of spending (primarily housing, transportation, and food), and find ways to save money there--especially house hacking, or renting out part of your living space so you can effectively live for free, until you have saved up about $25K; 3) take that $25K and invest in real estate (preferred) or at least index funds, while you. A solid, quick read that should give anyone a few actionable nuggets for financial planning. As a whole, a decent book for beginners on their path to FI. Discover Book Depository's huge selection of Scott Trench books online. Reports of the demise of the middle class have led to a spate of financial and investment books … I would highly recommend this book to anyone in their 20's or 30's especially those looking to boost their wealth and find a path to early financial freedom. Read more. As a whole, this book is a decent book about many finance concepts and is great for beginners. Welcome back. Loved this book. A little preachy, repetitive and annoying though. In his book Set for Life, he writes about how maintaining … I’m going all-in after reading this book. Fans of Rich Dad, Poor Dad and Total Money Makeover will love the actionable advice in this personal finance bestseller! If you want realistic strategies to quit the rat race 9-5 long before you’re 65, read this book! Just a moment while we sign you in to your Goodreads account. Set … Since joining BiggerPockets in 2014, Scott has authored wealth-building book … Even if you don’t adopt every principle it talks about, if you are interested in real estate or stock market investment and working toward early financial freedom, this book is a MUST READ. Set yourself up for life as early as possible, and enjoy life on your terms! Takeaways: 1) Get rid of your commute by living close enough to work (but not in a pricey neighborhood) to bike or walk. Members. Looking for books by Scott Trench? Everyone should read this. While the book … In short, the author's goal is to guide the reader to generating wealth quickly much faster than the standard retirement age of 66, so that the reader can enjoy more of th. Many of the ideas here are pretty different from how most of the world works to save and invest, but the discussion was very helpful. Then you've achieved financial freedom. It gives a really high-level overview of systematically developing a lifestyle that would be conducive to financial freedom and gives many simple explanations for intricate concepts. The author, Scott Trench, has some very wise advice on how to start investing in real estate by first saving money rather than trying to earn more money. 2) Buy a duplex in an "okay" but not great area, fix it up and rent out half, plus maybe some of the extra bedrooms in your half 3) Live on $1500/month and save. does not count as net worth. A growing collection of business books to help readers make the best real estate investing decisions possible. Dave Ramsey meets “Rich Dad, Poor Dad” Robert Kiyosaki. Free delivery worldwide on over 20 million titles. However, the author of Set for Life, Scott Trench from BiggerPockets, is very clear that this book is not for everyone. Scott Trench is a perpetual student of personal finance, real estate investing, sales, business, and personal management. The author isn’t some charlatan trying to sell you something. This book provides surprisingly sound advice on how to bootstrap wealth generation, on the whole, with a few exceptions on his numbers and the last "stage" of his plan. A really interesting take on finance -- the main point here is to 1) get out of debt, and save until you have a "financial runway" of $10K or so, 2) identify your major areas of spending (primarily housing, transportation, and food), and find ways to save money there--especially house hacking, or renting out part of your living space so you can effectively live for free, until you have saved up about $25K; 3) take that $25K and invest in real estate (preferred) or at least index funds, while you continue to work your 9 to 5 job. The author’s position against retirement accounts is simply bad advice (somewhat offset by the appendix, but many people likely won’t read it after such negativity in the body of the book). Scott Trench is CEO of BiggerPockets, co-host of the BiggerPockets Money Podcast, a real estate investor, real estate … rent out rooms in a house, whether you live in it or not, and use that rent money to pay for the house. See all books authored by Scott Trench, including Set for Life: Planning Your Financial Future So You Can Live the Life You Choose., and Set for Life: Dominate Life, Money, and the American Dream., and more on ThriftBooks.com. Kirkus Prize . Break Out of the 9-5 Grind. We're confident in the quality of our books. Don’t wait to see me be successful, retire early, and never have to worry about money again and then say, “I want that lifestyle, too!”... join me NOW. Don’t wait to see me be successful, retire ea. General Information. This is the book … 4.5/5 stars: Set for Life by Scott Trench. It is not about setting aside money for a “rainy day” or just accumulating an emergency fund. On today’s show we cover: Interview with Scott Trench from Bigger Pockets His book: Set For Life Scott… I really wanted to like this book but the real estate investment bias just paints an unrealistically rosy picture. If you feel stuck or feel that you are not able to flex your creative talents and live a life where you are in control, then Playing with FIRE might be just the book you need.” Scott Trench. Blog. By Scott Trench Data can help real estate investors make better-informed property purchases, from avoiding overpaying to pinpointing the best places to invest and more. You can do this with multiple houses and as the price of the house increases, so does the rent, which is where the profit comes from. His three phases are well argued with examples. If you're not satisfied with your purchase, you can return your book for a full refund within 30 days. I found the interview with Scott Trench … They truly get you on the road to being set for life. I would highly recommend this book to anyone in their 20's or 30's especially those looking to boost their wealth and find a path to early financial freedom. In addition to reading this book I highly suggest checking out Scott's podcast on biggerpockets.com as well as all the other great resources that site has to offer. Goodreads helps you keep track of books you want to read. With twenty-five real-world stories from seasoned investors across the country, this book uncovers the secrets behind unbelievable real estate deals, from sourcing and funding to profiting. It has stuck with me and finds its way into most conversations about money. It is more ideal for a person that is just coming out of college or is single without family and is thinking about purchasing a home but the concepts and principles will work for anyone at any walk of life, The short summary: Dave Ramsey Lite + Marie Kondo. He teaches how to build enough passive income to retire within 10-15 years through calculated work, investing, and saving. Accumulating a lifetime of wealth in a short period of time involves working harder and smarter than the average person, and Scott Trench—investor, entrepreneur, and CEO of … For returns, refunds, or the status of your order, you can contact. Choosing a selection results in a full page refresh. The author, Scott Trench, has some very wise advice on how to start investing in real estate by first saving money rather than trying to earn more money. EDIT: I came back and upgraded my ratings. It's about financial freedom, but it is really only applicable to those in their 20s or early 30s, living in an area of the country that's not terribly expensive. I appreciated Scott Trench's clear and direct writing style. I first read Dave Ramsey’s Total Money Makeover a couple years ago and got all the way through each baby step to step 5, still working on step 6. He has a lot of good advice to offer, but my biggest takeaway from the book was the power of "house hacking" in accelerating the path to FI. Set for Life, written by 26-year-old financially independent Scott Trench, contains more than 240 pages of detailed, step-by-step instructions to achieve financial freedom. Scott Trench is the CEO and President of BiggerPockets.com. The author, Scott Trench, has some very wise advice on how to start investing in real estate by first saving money rather than trying to earn more money. By layering philosophy with practical knowledge, Set for Life gives young professionals the confidence they need to conquer their financial goals early in life. April 23rd 2017 At risk of sounding sensational, here’s my raving review. Was a great balance of financial common sense, with real estate, with financial independence. 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