Imagine being able to retire in just ten years by cutting down your costs a little bit today. Scott Trench, Vice President of Operations at Bigger Pockets and author of "Set for Life," joins Your Cheddar to discuss setting up what he calls your "financial runway."
The concept is different from a nest egg, because you create the runway with the intent to use your savings to exploit opportunities or make significant investments, and so can reap the rewards -- your savings gather momentum in anticipation of a takeoff.
On the other hand, if you just save up for a rainy day (which you should!), you may never put that money to use to start a business or pursue an opportunity.
Plus, Trench talks about how to "house-hack" in order to pull in some extra revenue. He bought a duplex and rents out half of it in order to cover his mortgage. He encourages people to find little hacks like this to cut costs and save money to quit a 9-5 job you may hate!
President Donald Trump is talking up a joint venture investing up to $500 billion for infrastructure tied to artificial intelligence by a new partnership formed by OpenAI, Oracle and SoftBank. The new entity, Stargate, will start building out data centers and the electricity generation needed for the further development of the fast-evolving AI in Texas, according to the White House. The initial investment is expected to be $100 billion and could reach five times that sum. While Trump has seized on similar announcements to show that his presidency is boosting the economy, there were already expectations of a massive buildout of data centers and electricity plants needed for the development of AI.
Chris Ruder, Spikeball Founder and CEO, explains how he and his friends put roundnet on the global map, plus, how Spikeball helps people "find their circle."
J.W. Roth, CEO of Venu Holding Corporation, discusses the company's IPO and plans to redefine live music entertainment with their fan founded, fan-owned model.
Variety's Clayton Davis discusses why more than just the 1% are struggling after the LA fires. Plus, how awards shows will pivot to help victims. Watch!
Emily Hosie, CEO of Rebelstork, explains the concept of Returns Recommerce, plus how her company raised $18M to address the industry-wide issue of returns.
