Look up any “how to retire early” guide online, and you’ll see some basic information: invest in your 401(k), take advantage of your employer match, buy real estate, and invest the rest in index funds. While this type of advice is by no means wrong, it’s geared almost entirely toward W2 workers with consistent income and a full stack of benefits. Those waiting tables, bartending, or doing any other service industry work don’t fall into the “predictable income” category, so they often get left behind when spreading the word about building wealth.
We wanted to fill the informational gap and give service industry workers EVERYTHING they need to know to turn tips into early retirement. The perfect person to teach us all about it? Barbara Sloan! She’s the author of "Tipped: The life changing guide to financial freedom for waitresses, bartenders, strippers, and all other service industry professionals." In it, she teaches those working for tips how to turn their inconsistent (and frequently non-taxed) income into a portfolio that will make them set for life.
Barbara walks through her money story, from getting deep into debt, moving to New York City with just $700, working at bars and Wall Street, and how she turned a fluctuating income into financial independence. She gives actionable advice on how ANY service industry worker can start saving, set up an emergency fund, and build wealth, even if they’re not making a high income. She also explains why tip work like bartending and serving makes the ultimate retirement plan for those that have already hit FI!
Show Notes at:
[ Ссылка ]
~~~~
Join BiggerPockets for FREE 👇
[ Ссылка ]
~~~~
Join the BiggerPockets Money Facebook Group:
[ Ссылка ]
~~~~
Find an Investor-Friendly Agent in Your Area:
[ Ссылка ]
~~~~
Got a Money Tip to Share? Send Us an Email:
moneymoment@biggerpockets.com
~~~~
Hear Our Interview with David Greene:
[ Ссылка ]
~~~~
How to Get to Early Retirement Even Faster:
[ Ссылка ]
~~~~
Connect with Barbara:
Book: [ Ссылка ]
Instagram: @tippedfinance or [ Ссылка ]
Website: [ Ссылка ]
~~~~
Want to Be a Guest on the BiggerPockets Money Show? Apply Here:
Guests: [ Ссылка ]
Finance Friday: [ Ссылка ]
~~~~
Connect with Scott and Mindy on BiggerPockets:
Scott: [ Ссылка ]
Mindy: [ Ссылка ]
Episode 386
00:00 Intro
02:55 Money Moment
04:05 Self-Reliance Through the Service Industry
07:30 Bartending, Loan Sharks, and Finding FI
13:02 Done with Debt & Starting to Save
16:39 What Service Industry Workers Don't Know
27:05 Pros of Working in the Service Industry
30:38 Building Wealth on Tip Income
37:47 Budgeting with Inconsistent Income
48:09 Turning Tips into Early Retirement
53:07 Connect with Barbara!
53:50 Tips for Working for Tips
