The Keys to Free College & Retiring Early with $10,000,000

Рет қаралды 34,581

Күн бұрын

Retiring early already isn’t an easy feat, but what about early retirement with an 8-figure stockpile? Amber Porter has one of the most optimized retirement plans we’ve ever seen. Seriously, she could give Mindy and Scott a run for their money! Amber grew up in a neighborhood that was anything but rich. Surprisingly, the wealthier people in her neighborhood were more interested in purchasing nice cars instead of investing, which they told her was essentially gambling. Amber quickly saw past this idea and realized that smart, consistent investing could lead her to many millions of dollars.
She worked throughout high school and was able to graduate in only three years. Then, she applied for every scholarship possible and did the same in college, graduating in three years and completely debt-free.
After graduating, she started investing heavily, working as much as she could to fund retirement accounts. She started working for the Army on the side, which allowed her to get an even better retirement plan, an army retirement check, and the ability to buy homes with a zero percent down VA loan. If all goes to plan, Amber will be retiring with close to ten million dollars at age fifty!
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Join the BiggerPockets Money Facebook Group:
/ bpmoney
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Listen to the Minority Millennial Money Podcast:
podcasts.apple.com/us/podcast...
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Read Brenda’s Book “Money Moves: The Road to Millionaire Status”:
www.amazon.com/dp/B08WHGV65M/
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Connect with Brenda on Social Media:
Twitter: @moneymovesauth or / moneymovesauth
Instagram: @minoritymillennialmoney or / minoritymillennialmoney
Everything Else: linktr.ee/moneymovesauthor
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Brenda Olmos’ Episode of The BiggerPockets Money Podcast:
www.biggerpockets.com/blog/bi...
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Check Out David’s Work:
www.frommilitarytomillionaire...
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Follow Scott and Mindy on Instagram:
@scott_trench or / scott_trench
@mindyatbp or / mindyatbp
Episode 241
Show notes at: www.biggerpockets.com/moneysh...
0:00 Intro
2:50 Graduating Debt-Free (In 3 Years!)
15:53 Why Scholarships Aren't Just About School
21:40 The Logical Next Step? Law School!
23:58 Graduating Law School at 24
29:13 Teaching Others That Investing Isn't Gambling
36:24 Amber's Investing Portfolio
43:55 VA Loans and Home Ownership
48:22 Shooting for Fat FIRE
56:39 Famous Four
1:01:15 Wrapping Up a Widely Optimized Finance Episode

Пікірлер: 63

@hughesj3911 2 жыл бұрын

When she said “I want to retire at 50, I’m exhausted” - I felt that in my soul. Great interview.

@donniereidjr 2 жыл бұрын

Can we just simply celebrate her brilliance please?

@mosesjohnson7418 Жыл бұрын

Amber doesn't realize how awesome she is because she is a workaholic. She was just doing what she does. Whoever raised her needs to start a coaching business. Lol

@melinda858 2 жыл бұрын

My daughter was enrolled in a concurrent program that gave her the opportunity to take college classes during high school. She graduated with 30 college credits . The schools will usually pay for the classes . 👍😊 Great interview as usual!

@apai811 2 жыл бұрын

Very inspirational. This lady should go give speeches around high schools.

@Zara_Luna 2 жыл бұрын

Great interview! You are amazing!!! One take away from your story is learning delayed gratification and having a vision at an early age. Congratulations on your podcast. This video should be at 1 million views

@royae2897 3 ай бұрын

She’s so amazing. Great interview!

@djwashx 2 жыл бұрын

F ing amazing congrats and I'm only 5 minutes in more comments to come I'm sure wow great interview she will enjoy retirement for sure so IMPRESSED!!!!!!!!!!!

@tysgem7 2 жыл бұрын

Excellent gems here. Thanks, all. Took lots of notes since I have 2 girls off to college in 3 years. My oldest is currently in a program to graduate in 3 years. :)

@klt9874 Жыл бұрын

I literally sent this to my son and told him to watch and we will discuss. This was so awesome!

@agamaya6458 2 жыл бұрын

Wow Good advice 🥰 definitely sharing this with my 9th grade daughter 👍🏾

@agamaya6458 2 жыл бұрын

Thank you Bigger Pockets for adding value in the community 😍😘

@navehhall73 2 жыл бұрын

THANK YOU FOR ADDING TIME STAMPS!!!!!

@jeannehunter5344 Жыл бұрын

When my kids went to university, I hunted high and low for scholarships. Engineering has many available, and surprisingly there are also dedicated ones for art! My son lived at home while completing his civil engineering degree (cum laude), and is now studying in Germany for his masters while working on the side to earn his keep. My daughter graduated cum laude in a masters of visual arts and is working her way into my country's graphic design and illustration fields while honing her skills as an author. They knew there was little money available and worked hard to reach their goals. Of course I am super proud and grateful. May I add, they had no debt when they graduated.

@ctrrentalproperties6731 2 жыл бұрын

I always watch these directly from BP, but had to come here today to make a comment. This is such a great story and excellent advice. I am sharing it with my kids so help motivate and inspire them to hear it from someone other than me.

@FromwithinsheQueens888 2 жыл бұрын

Beautiful video & smart and intelligent young lady 🙌👑A true Queen that’s going after what she wants 💪👑💕💕💕💕💕💕💕💕💕💕💕💕

@mlambert1974 Жыл бұрын

Phenomenal story! How do I get health insurance if I retire early? Thanks in advance for your help everyone.

@anbessagobana9274 Жыл бұрын

Thank you❤

@destinyinvest364 2 жыл бұрын

Congratulations Queen congratulations 👸 you are Brainy so smart cheers to your success

@aarongillette4420 Күн бұрын

A reserve retirement is a nice little plus. Hitting 20 years at 50 is nice but the unfortunate part is you can't draw the pension until your 60, minus any qualified 90 day periods of deployments. Plus the VA benefits to include disability!

@nubiandarkie 2 жыл бұрын

It would have been great to hear her views on renting vs buying

@thpq 2 жыл бұрын

just watching this now. She made killing looking at how much oil has gone up at this point, and tech fell. She did good being in the ETF at this point.

@kingfratetrain7634 2 жыл бұрын

35:23 some people invest in shoes and cars as assets or as ways to still get enjoyment while maintaining their net worth. For example, a mclaren senna is worth 1.2 mil and has been worth that for awhile now.

@andreawisner7358 2 жыл бұрын

One little fire or a change in social values and your "wealth" is gone.

@amiraclefinds4867 Жыл бұрын

Gurl same, my name paycheck goes into the market. Once retirement happens... im going to retire. Not get another job

@BrentonThornicroft 2 жыл бұрын

Jesus so impressive 👏🏾👏🏾👏🏾

@robertaschilling1271 Жыл бұрын

I finished in 3 years as well by doing summer school, night school (they didn't allow correspondence) but I skipped lunch as well. Did a dual high school program, college bound and trade for computer programming. I also, grew up at a small suburb of Chicago. Wonder if we lived near each other?

@andrewgeorge863 2 жыл бұрын

Wow. Beast mode definitely activated.

@punisher6659 6 ай бұрын

Awesome.

@msgemsgems Жыл бұрын

How did she know to do what she did? Very wise young lady.

@jesusmedina4494 2 жыл бұрын

Wow, outstanding young lady.

@annad3377 2 жыл бұрын

How cow, she is such an inspiration!

@carameldiva7asmr415 2 жыл бұрын

IMPRESSIVE

@georgechang4006 2 жыл бұрын

Immediately thought of his mustache when mindy said his name lmao

@BeardedCarBuddy Жыл бұрын

What an absolute legend!

@robyn9617 15 күн бұрын

Hello Mindy not just work ethic she's SMART

@andreawisner7358 2 жыл бұрын

Did you mix up "Amber" and "Brenda" in the description? I didn't catch on to what Brenda has to do with this.

@amberporter8159 2 жыл бұрын

Yes, for some reason Brenda’s name is there instead of mine, I’ve let Mindy know.

@trvtch 2 жыл бұрын

I love her!

@carameldiva7asmr415 2 жыл бұрын

My daughter has graduated within three years.

@lucretiaanders4256 2 жыл бұрын

This was kind of misleading. The header made it look as though this person had already retired with 10 million.

@TubeTorte Жыл бұрын

I'm half way thru and can't understand why neither of you asked her why she chose to go to ART school! If she wanted to be in broadcasting, how would art school have trained her for that? Her academic background was strong enough after ART school to prepare her for law school?? I was discouraged from going to art school for the usual reasons: what kind of well paying work will you be qualified for. I ended up not attending any college and just worked until being old enough for social security. I was always a hard worker though didn't much enjoy the jobs I had, but I have managed to invest in a couple of homes and saved via IRA's with mutual funds. Not rich, but not poor.

@PS-ic4bp 10 ай бұрын

High quality food is not a luxury because it’s a prerequisite for health and health is wealth.

@Ricky-kd5km 2 жыл бұрын

Great videos would be great to have someone from the UK although that isn’t you target audience good to get views from people across the world

@ericlewis6404 2 жыл бұрын

How much was she earning though? There’s like no numbers in this.

@BrokeMillionaire1 2 жыл бұрын

AMAZING interview!!!! Amber if you see this, I’d love to get you on my channel also. Thanks!

@amberporter8159 2 жыл бұрын

Hey! I just saw this. I’ll DM you.

@shiftingbabe3947 2 жыл бұрын

@@amberporter8159 I hear you talk about renting but what about buying new construction homes in phase 1 waiting for the community to be completely built and then selling it and buying another? They appreciate so so much. Some people do it rinse and repeat. Plan to live in it 3-5 years and move on to another brand new home. Low effort, high returns, look into it. Wishing you all the best 🦋

@KayGee_yt 2 жыл бұрын

34:45 don't act obtuse. There's ways to explain stocks that actually make sense. Obviously people buy things and take a "guaranteed loss" for the guaranteed gain of an item. You have a laptop you're talking to, a chair you're sitting in, and headphones over your ears because you bought it all. Don't undermine your own points by being overly silly

@Theinvestoryou Жыл бұрын

I like your format. I would like to collaborate with you online and invite you to may channel for a conversation, how do I get hold of you?

@ashleighevans1867 2 жыл бұрын

#TeamMindy on Cs get degrees

@MemeHam123 Жыл бұрын

Will y’all give me lessons?😅

@kingfratetrain7634 2 жыл бұрын

Scholarships are like those wizza sweepstakes but you actually have a decent shot at winning 😂

@iAmaze87 2 жыл бұрын

can we emphasize that shes Gifted

@jaydubya9265 Жыл бұрын

Id be done at 40 lol

@smalltheresa1 2 жыл бұрын

she is not telling the truth about investing all of her 100 percent military pay into a retirement plan because for one it is limited to contributions ..then anyone who worked for government would have stated that it would be thrift saving account which is term of the retirement plan for federal employees.

@andreawisner7358 2 жыл бұрын

She said "my 401k." It could be a civilian 401k. There are mega 401k's and similar to invest in. She didn't say specifically that she had it invested in a military retirement plan. Before you call someone a liar, why don't you ask how this is done?

@amberporter8159 2 жыл бұрын

If you’re in the Army reserves you can put 90/95% of your income into the Thrift Savings plans, the rest then goes to taxes and insurance. So 100% of the money I would have received goes into the Thrift Savings Plan.

@LisaB-lv9if 2 жыл бұрын

@@amberporter8159

@shiftingbabe3947 2 жыл бұрын

Listening is fundamental 43:14

@aarongillette4420 Күн бұрын

@amberporter8159 92% is the max, that's what I'm at 😂.