Today’s guest is Kelly Iannone. Kelly is an advocate for the FIRE (financial independence, retire early) community and is passionate about helping others achieve financial freedom.
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Kelly is an advocate for the FIRE (Financial Independence, Retire Early) community and is passionate about helping others achieve financial freedom through passive income from multi-fam real estate. She has worked for over 17 years as an employee of The Walt Disney Company. While she started investing in traditional retirement vehicles like 401k at a young age, she is now working her way to FI through real estate. Kelly and her husband John are the Founders of Waypoint Commercial Investment Partners. They have a portfolio of 409 multi-family units throughout Florida, Georgia and Texas valued at over $45M+. Kelly is also the mother to two children and is based in Florida.
- Kelly’s childhood exposure to money and finances and the responsible money habits she learned from her parents
- How Kelly’s parents early retirement at 50 and 51 years old set an example for Kelly
- Why Kelly’s parents had Kelly get a credit card at a young age and how they used it as a tool to build credit history
- The key lesson for credit card management
- What sparked Kelly’s interest in pursuing financial independence and why it was important
- Strategies on how Kelly and her husband were able to figure out a way to live on Kelly’s income, while automatically diverting Kelly’s husband’s income to saving and investing
- How COVID was a wake-up call to families relying on a single income
- How the journey to financial independence results in a change in mindset as well as curbing lifestyle inflation
- The difference between coast FI and regular FI
- When Kelly decided that real estate investing was the way to accelerate their journey to build passive income on their way to financial independence
- How they decided that investing in multi-family real estate was the way to go, after trying different strategies including investing in single family homes, investing passively in RV parks and flipping homes
- Why they decided to create a syndication that invests in multi-family and become the active general partners in that syndication
- How Kelly manages to juggle a busy career, growing her real estate business and family life
- How people can passively invest through real estate syndications or hiring property managers, so that you do not have to deal with tenants, toilets or termites
- How Kelly gets her two young children exposed to real estate through property visits and how she teaches them about real estate
- The money lessons she teaches her kids about saving and investing, and the example she and her husband sets with their own savings habits
- The open conversations about money concepts Kelly has with her kids, including charitable giving, taxes, aligning spending with values, spending choices
- Why Kelly charges her kids interest to finance certain spending decisions
- Bigger Pockets Podcast
- The Only Woman In the Roomby Ashley Wilson
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Thanks to Kelly for joining me this week!
In case you missed it, make sure to catch up on last week’s episode “Episode 023: Amplify Our Kids’ Wealth and Money Mindset with Alissa Maizes”!