In Rockin' the Suburbs, Ben Folds pokes fun at the “struggles” of middle-class life… it’s angsty, a little whiny, but also tongue-in-cheek. It’s killer piano rock that makes you laugh because deep down, it’s a little too relatable. And that tension is still alive today. A lot of Americans, and plenty of HTM listeners, feel like they’re doing all the right things: saving diligently and investing wisely but at the cost of flexibility, and maybe even some joy right now. So how do you balance building wealth for the future without squeezing the life out of the present? That’s what we’re diving into today with Scott Trench. He literally wrote the book on this, Set for Life: Dominate Life, Money, and the American Dream, and he has helped thousands of people chart a path to financial independence. Today we discuss:
Frugality isn’t a virtue
Managing your biggest monthly expense
House hacking
Scott’s ideal day and vision document
Real estate as an inflation adjusted store of value
Index funds vs real estate
Optionality vs optimality 
Illiquid investments and avoiding the middle-class trap
Why Scott doesn’t count his primary home as an investment
And much more!

 

Can’t get enough How To Money? Here are some additional ways to get ahead with your personal finances:
Scott: Check out Scott’s book on the topic, Set For Life as well as the resources he mentioned.
Cashback credit cards: Check out our favorite credit cards that we use to maximize rewards and optimize our spending.
Other money nerds: Find a thriving community of fellow money nerds by joining the HTM Facebook group!
Newsletter: Sign up for the weekly HTM newsletter. It’s fun, free, & practical.
Money Gears: knowing what to do with your money is crucial to your personal finance journey.
MG7: and maybe you’re well on your way to financial independence but you’re looking for some financial reassurance, that’s when heading over to HowToMoney.com/Advisor and getting matched with a highly vetted financial advisor makes sense.

 

And please help us to spread the word by letting friends and family know about How to Money! Hit the share button, subscribe if you’re not already a regular listener, and give us a quick review in Apple Podcasts or wherever you get your podcasts. Help us to change the conversation around personal finance and get more people doing smart things with their money!

 

Best friends out!

In Rockin' the Suburbs, Ben Folds pokes fun at the &ldquo;struggles&rdquo; of middle-class life&hellip; it&rsquo;s angsty, a little whiny, but also tongue-in-cheek. It&rsquo;s killer piano rock that makes you laugh because deep down, it&rsquo;s a little too relatable. And that tension is still alive today. A lot of Americans, and plenty of HTM listeners, feel like they&rsquo;re doing all the right things: saving diligently and investing wisely but at the cost of flexibility, and maybe even some joy right now. So how do you balance building wealth for the future without squeezing the life out of the present? That&rsquo;s what we&rsquo;re diving into today with Scott Trench. He literally wrote the book on this, Set for Life: Dominate Life, Money, and the American Dream, and he has helped thousands of people chart a path to financial independence. Today we discuss:
<ul>
<li aria-level="1">Frugality isn&rsquo;t a virtue</li>
<li aria-level="1">Managing your biggest monthly expense</li>
<li aria-level="1">House hacking</li>
<li aria-level="1">Scott&rsquo;s ideal day and vision document</li>
<li aria-level="1">Real estate as an inflation adjusted store of value</li>
<li aria-level="1">Index funds vs real estate</li>
<li aria-level="1">Optionality vs optimality&nbsp;</li>
<li aria-level="1">Illiquid investments and avoiding the middle-class trap</li>
<li aria-level="1">Why Scott doesn&rsquo;t count his primary home as an investment</li>
<li aria-level="1">And much more!</li>
</ul>
&nbsp;
Can&rsquo;t get enough How To Money? Here are some additional ways to get ahead with your personal finances:
<ul>
<li aria-level="1">Scott: Check out Scott&rsquo;s book on the topic, <a href="https://amzn.to/3PyTbbk">Set For Life</a> as well as the <a href="https://www.biggerpockets.com/resources">resources he mentioned</a>.</li>
<li aria-level="1">Cashback credit cards: Check out <a href="https://go.nextcard.com/shau19-htmomny">our favorite credit cards</a> that we use to maximize rewards and optimize our spending.</li>
<li aria-level="1">Other money nerds: Find a thriving community of fellow money nerds by joining the <a href="https://www.facebook.com/groups/1623670287732189">HTM Facebook group!</a></li>
<li aria-level="1">Newsletter: Sign up for the weekly <a href="https://www.howtomoney.com/newsletter/">HTM newsletter</a>. It&rsquo;s fun, free, &amp; practical.</li>
<li aria-level="1">Money Gears: knowing <a href="https://www.howtomoney.com/start-here/">what to do with your money</a> is crucial to your personal finance journey.</li>
<li aria-level="1">MG7: and maybe you&rsquo;re well on your way to financial independence but you&rsquo;re looking for some financial reassurance, that&rsquo;s when heading over to <a href="http://www.howtomoney.com/advisor">HowToMoney.com/Advisor</a> and getting matched with a highly vetted financial advisor makes sense.</li>
</ul>
&nbsp;
And please help us to spread the word by letting friends and family know about How to Money! Hit the share button, subscribe if you&rsquo;re not already a regular listener, and <a href="https://podcasts.apple.com/us/podcast/how-to-money/id1337718773?mt=2">give us a quick review in Apple Podcasts</a> or wherever you get your podcasts. Help us to change the conversation around personal finance and get more people doing smart things with their money!
&nbsp;
Best friends out!

Best friends Joel and Matt are the co-hosts of How to Money which is all about providing the knowledge & tools that normal folks need to thrive in areas like debt payoff, DIY investing, and crucial money tricks that will provide continuous help along your journey. We believe that access to unbiased and jargon-free personal finance guidance is more necessary than ever before. When you handle your money in a purposeful, thoughtful way that works for your lifestyle, you can really start living a rich life.

How to Money

Avoiding the 'Middle Class Trap' w/ Scott Trench #1148

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/a920e229-4a18-46fc-8158-b41e01313d1e/transcript