New kid on the block

6 Replies


I'm a little nervous to introduce myself to this community but here goes

hi there, my name is Jose Aguilar I'm 25 years old and live in Whittier CA 90604, I love to eat, work out and read books, and i now have an interest in building wealth not just for myself but for my family. I'm a college drop out, work as a server, and crave finical freedom. I listen to the bigger pockets podcast while driving to work and wish I could go to the beach instead of sitting in LA traffic.

personal balance sheet as of 9/14/2021

assets liabilities

bank:$1617.95 car loan:$10,555.00

savings:$14,284.36 credit card debt:$159.63

emergency fund:$840 student loans:$0

cash:$113.14

trading account:$1775.10

coin jar: $18.75

credit available:$6,000



income statement

Average income:$2100

Average expense:$1875

savings rate:$225

social security number 802 00 1031, just kidding haha

what would you do if you had my financial strengths and weaknesses. I'm open to listening to others experience. if you have book recommendations or advice id appreciate it.

my goals are to make enough cash flow to cover my expenses, and eventually create more time for myself and leave my job.

Originally posted by @Jose Aguilar :


I'm a little nervous to introduce myself to this community but here goes

hi there, my name is Jose Aguilar I'm 25 years old and live in Whittier CA 90604, I love to eat, work out and read books, and i now have an interest in building wealth not just for myself but for my family. I'm a college drop out, work as a server, and crave finical freedom. I listen to the bigger pockets podcast while driving to work and wish I could go to the beach instead of sitting in LA traffic.

personal balance sheet as of 9/14/2021

assets liabilities

bank:$1617.95 car loan:$10,555.00

savings:$14,284.36 credit card debt:$159.63

emergency fund:$840 student loans:$0

cash:$113.14

trading account:$1775.10

coin jar: $18.75

credit available:$6,000



income statement

Average income:$2100

Average expense:$1875

savings rate:$225

social security number 802 00 1031, just kidding haha

what would you do if you had my financial strengths and weaknesses. I'm open to listening to others experience. if you have book recommendations or advice id appreciate it.

my goals are to make enough cash flow to cover my expenses, and eventually create more time for myself and leave my job.

 Welcome aboard playa.........I love to eat too. Real Estate will do that to ya.

Hey Jose, I live in Whittier as well!  I'm currently house hacking my first property here in Whittier.  A few books that really helped me get going and gave me the confidence to take action are below.  

1.  Set for Life by @Scott Trench

2.  The Simple Path to Wealth by JL Collins

3.  Land Lording on Auto Pilot by Mike Butler

4.  The Book on Managing Rental Properties by @Brandon Turner

I am also a Whittier resident and built our rental business here.  Keeping your expenses well under your income is key to building your savings, and those savings give you the ability to invest.  Keep your standard of living inflation in check, learn about personal finance and real estate, build your reserves, and make connections with some people who can help you learn and maybe collaborate on deals with.

Originally posted by @Jose Aguilar :


I'm a little nervous to introduce myself to this community but here goes

hi there, my name is Jose Aguilar I'm 25 years old and live in Whittier CA 90604, I love to eat, work out and read books, and i now have an interest in building wealth not just for myself but for my family. I'm a college drop out, work as a server, and crave finical freedom. I listen to the bigger pockets podcast while driving to work and wish I could go to the beach instead of sitting in LA traffic.

personal balance sheet as of 9/14/2021

assets liabilities

bank:$1617.95 car loan:$10,555.00

savings:$14,284.36 credit card debt:$159.63

emergency fund:$840 student loans:$0

cash:$113.14

trading account:$1775.10

coin jar: $18.75

credit available:$6,000



income statement

Average income:$2100

Average expense:$1875

savings rate:$225

social security number 802 00 1031, just kidding haha

what would you do if you had my financial strengths and weaknesses. I'm open to listening to others experience. if you have book recommendations or advice id appreciate it.

my goals are to make enough cash flow to cover my expenses, and eventually create more time for myself and leave my job.

 Obviously we need to address the coin jar.😎

Thorough and honest but missing expense breakdown.  Rent? Car payment?  Those are the biggies.  

To increase savings rate I'd get another roommate and search for a functional beater on CL or Offer Up or some form of private sale.  Get the $3k car, then sell your payment.  It may not be upside down in this market.    

Then I'd get my income up.  Side hustle or 2nd job.  Uber, doordash, what have you. 

All the while driving for dollars and listening to podcasts.    Glad to have you!