Set for Life: Dominate Life, Money, and the American Dream.

Set for Life: Dominate Life, Money, and the American Dream.

by Scott Trench


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Product Details

ISBN-13: 9780997584714
Publisher: BiggerPockets Publishing
Publication date: 04/23/2017
Pages: 236
Sales rank: 84,241
Product dimensions: 6.10(w) x 9.30(h) x 1.00(d)

About the Author

Scott Trench is a perpetual student of personal finance, real estate investing, sales, business, and personal management. He is also a real estate investor, an executive at a large online corporation, salesman, real estate broker, and author. Through a solid understanding of money management, calculated risks, and a lot of hard work, he has created financial freedom for himself as well as a successful real estate business in just three years after graduating college. He hopes to now share the knowledge he has acquired so that others will have the tools they need to repeat his results in just 3-5 years, giving them the option to go anywhere they want in the world, work any job, start any business, or finish out the journey to financial independence and retire young.

Table of Contents


Introduction 10
Three Stages of Wealth Creation 11

Part I: The First $25,000 Is the Hardest 14

Chapter 1: Building The First $25,000 through Frugality 16
Why Wealth Creation Begins with Frugality 17
The Psychology of Frugality 21
Conclusion 28

Chapter 2: How to Live an Efficient Lifestyle 30
An Overview of the Average American’s Spending Habits 31
Tackling Major Life Expenditures in Order of Significance 33
Conclusion 45

Chapter 3: What to Do with Money as You Save It 48
“Bad” Debt vs. “Good” Debt 49
Credit 52
The First Three Milestones in the Journey to Financial Freedom 54
Conclusion 59

Part II: From $25,000 to $100,000 through Housing & Income
Generation 60

Chapter 4: Turning Your Largest Expense into an Income
Producing Asset 62
Average Joe’s Housing Dilemma 62
Conclusion 71
Chapter 5: The Financial Impact of Housing Decisions 72
Five Ways to Buy a First Property 72
Questions to Ask Before Buying a House Hack 84
Conclusion 87

Chapter 6: How to Make More Money 90
What Is the Point of Earning More Money? 92
Changes Necessary to Increase One’s Income 99
Conclusion 113

Chapter 7: Scaling a Scalable Career 116
Five Tactics To Help You Earn More Money 117
Conclusion 126

Part III: Moving from $100,000 to Financial Freedom 128

Chapter 8: An Exploration of Financial Freedom 130
Who Are the Financially Free? 135
The Four Levels of Finance 138
How to Go About Pursuing Financial Freedom 142
The Components to the Financial Independence Equation 142
Conclusion 155

Chapter 9: An Introduction to Investing for Early Financial Freedom 156
The Seven Core Tenets of Investing 158
Five Concepts for the Savvy Investor 167
Conclusion 181

Chapter 10: Investing in the Stock Market 183
Do Not Attempt to Pick Individual Stocks 184
Conclusion 190

Chapter 11: Real Estate Investing 192
Five Reasons to Invest in Real Estate 192
How to Invest in Real Estate 198
Conclusion 199
Chapter 12: Tracking Your Progress 201
Tracking Your Money 201
The First Financial Metric: Net Worth 202
The Second Financial Metric: Spending 208
The Third Financial Metric: Income 210
The Fourth Financial Metric: Time 212
How to Track Your Time 214
Conclusion 216

Chapter 13: Habits and Their Impact on Financial Freedom 218
Cut these ten habits out of your life: 219
Conclusion 225

Chapter 14: Conclusion 226

Appendix: Retirement Accounts 230
Several Reasonable Approaches to Retirement Accounts for the Aspiring Early Retiree 233
Conclusion 238

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