[ The Yellow Board ]
Re: Side Hustle
If you go through his steps he doesn't recommend starting retirement until you are debt free. You buy used cars, (get out of having a car payment), and you snowball your way out of credit card and student loan debt. You create a budget and live within your means. You don't take vacations and you don't spend money you don't have. If you can get out of debt, (all but a house), within 5 years of graduating you are still starting retirement by 26. And when you are debt free you can dump more into some compounding interest is better. And there is NO reason a teacher making 50k plus a year can't get out of debt in 5 years unless that teacher is a single income for a family in which case another discussion needs to happen depending on the real financial goals of the family.
Don't do it all on the first day. Emergency fund, snowball, 6 month emergency fund, retirement. Don't have car payments. That's the easiest one out there. What isn't realistic is accepting that college students are 100k in debt when they walk across the stage. I had no car payments, (ever), and no credit card debt at the age of 21. House paid off before the age of 40. It is possible.
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