BiggerPockets Money Podcast · Wednesday, July 15, 2026
Scott Trench outlines his strategy for accumulating the first million dollars in net worth for those starting in their 20s, dividing the journey into three buckets. The first involves cutting 'big three' expenses (housing, transportation, food) and potentially taking side jobs. The second is accumulating cash for opportunities, and the third is long-term investing.
“And I broke down this ride to financial independence into three buckets, right? The accumulation of the first $25,000.”
“We're going to cut expenses by focusing on the big three expenses, which is not your daily latte, it's your housing, transportation and food costs.”
“And that's how you save money. And and entertainment budget, I'm really jealous of you living in Philadelphia. You know, Eagles games, I still have to go to the first Eagles game of the link. I've been to a bunch of away games. But I've actually never, like my whole life, I never go into an Eagles game at home. And that's not the thing to cut, right? In your budget.”
“I'm a big advocate of accumulating mac cash after tax. The first few years and foregoing the tax advantages of retirement accounts for a number of reasons.”