Overview of How We Built a $1M Net Worth by 32 (BiggerPockets Money)
This episode tells Trevor’s step-by-step path from graduating college with about $1,000 in net worth to crossing the $1M mark in his early 30s (transcript alternates between “by 32” and “33”). The story emphasizes three repeatable themes: build financial strength (very high savings rate + emergency buffer), be flexible (move, change roles, take international assignments), and use employer and real-estate levers (ESPPs, relocation packages, house hacks, live-in flips). Trevor paired deliberate frugality and DIY rehab work with opportunistic career moves (including sales roles and international assignments) and timely real estate trades.
Key milestones & timeline
- Graduated ~2017 with ~ $1,000 net worth, no debt.
- Early career: maxed 401(k) and Roth IRA; saved aggressively (short-term ~75–80% savings, ~ $60k in 6–9 months around 2018).
- 2019: moved to Pittsburgh on a corporate relocation short assignment; bought a triplex for $220k (rented $500–700/unit), put ~$35k into rehab, later sold for $365k.
- 2020: moved to Chicago (another relocation package), switched into a sales role (base ~ $95k, bonus upside).
- 2021: bought and remodeled a Chicago home (purchase ~$300k, ~$75k in renovations), later sold for ~$440k.
- 2022–mid 2024: moved to Stockholm on a new job (accepted pay cut; USD exchange + higher taxes reduced net pay); had first and second child there; received severance & relocation back to U.S. after company reorg.
- Returning to U.S. (mid‑2024): net worth reported ~ $800k on return; new U.S. role with ~ $145k base + bonuses + RSUs + signing bonus; continued investing and saving; currently at ~$1M net worth in early 30s (per episode title).
Core strategies & tactics Trevor used
- Employer benefits arbitrage
- Enrolled in and maximized employee stock purchase plan (ESPP) with 15% discount; treated it like “free money.”
- Aggressively exploited relocation packages (housing paid, per diems, moving cash—one move netted ~ $40k).
- Negotiated pay, sign‑on, RSUs and relocation on later roles.
- Real estate
- Early leveraged buy: triplex investment (not a live‑in house hack), heavy DIY renovations to increase rents/ARV.
- Live‑in flip / remodel in Chicago: ran much of the grunt work himself, hired licensed pros for critical tasks (electrical/plumbing), documented work to be covered by pros’ insurance.
- Bought, rehabbed, and sold both properties at favorable market timing (out in 2022).
- Career moves
- Said “yes” to relocation and international moves when peers didn’t—flexibility unlocked higher compensation/benefits and experiences.
- Moved into sales to increase total compensation (base + sizable bonus potential).
- Prioritized being “mobile” and visible to leadership for assignments.
- Frugality + high savings
- Low lifestyle costs early (old cars, modest rents, prioritized travel but kept other expenses low).
- High short-term savings rate allowed risk-taking (e.g., putting money into ESPP, doing down‑payment, supporting moves).
- DIY where cost‑effective; hire/licensed pros for high‑risk systems and get them to run coverage under their insurance.
Numbers & deal summaries (high‑level)
- Pittsburgh triplex (2019)
- Purchase: $220,000
- Rehab: ~$35,000
- Rents initially $500–700/unit; post‑work $1,000–1,200/unit
- Sale: $365,000
- Chicago property
- Purchase: ~$300,000
- Rehab: ~$75,000
- Sale: ~$440,000
- Career comp snapshots
- Early salary: ~$85k
- Sales role in Chicago: base ~$95k + bonus potential
- Sweden role: negotiated $100k but currency/taxes cut after‑tax take to ~$45–50k
- Returning U.S. role: base ~$145k + signing bonus ~$25k + RSUs ~$20–30k + 401(k) match + bonuses
- Childcare in Sweden: ~ $120/month (low subsidized cost)
(Note: some figures are rounded or reported in the interview with slight inconsistencies; numbers above reflect the episode’s stated figures.)
Key takeaways & lessons
- Flexibility compounds: being willing to relocate and take assignments (internally or externally) unlocked big financial and experiential opportunities.
- Employer benefits are often underused: ESPPs, relocation packages, and other “hidden” benefits can add large, low‑risk returns if you have short‑term liquidity to float them.
- Build a position of financial strength first: low expenses + emergency buffer enable you to take higher‑value risks (move, buy a rental, maximize ESPP).
- Real estate is powerful early in career: house hacks or small rentals paired with DIY rehab can produce outsized returns relative to earnings potential at that stage.
- Use licensed pros for high‑risk work and document arrangements: running wires/PEX yourself with a pro to sign off can save money and reduce liability.
- Luck matters, but preparation and repeatable actions tilt odds in your favor: Trevor acknowledges fortunate timing, but he repeatedly put himself in positions to benefit.
- FI is a spectrum: reaching “Coast FI” earlier enabled Trevor to prioritize experiences (living in Sweden, family time) over an all‑out sprint to early retirement.
Actionable checklist (what listeners can do next)
- Audit your employer benefits today:
- Ask HR about ESPP rules, 401(k) match, relocation, tuition reimbursement, dependent care benefits, parental leave and child care subsidies.
- Build a 3‑ to 6‑month cash buffer so you can safely: maximize ESPP contributions, negotiate for relocation, or take a house‑hack opportunity.
- If considering ESPP: confirm holding/sale rules and blackout periods; treat guaranteed discounts (e.g., 15%) as arbitrage when permitted.
- Consider housing flexibility:
- Can you house‑hack, rent a room, or move to a lower‑cost area temporarily to save aggressively?
- When buying a property to hold/manage from afar, evaluate property management costs vs. selling.
- Learn basic rehab skills, but outsource/insure electrical, gas and major plumbing—get licensed pros to sign off when necessary.
- If your income growth stalled, look at sales/commission roles or internal transfers that preserve base but increase upside.
Notable quotes & insights
- “Flexibility is the ingredient.” — saying yes to moves and assignments is a primary way to accelerate income and wealth when you don’t start at top incomes.
- “Employee benefits are free money.” — ESPPs and matches are high-priority, risk‑adjusted wins if you can float the short timing constraints.
- “We were Coast FI and comfortable delaying our FI date to have life experiences.” — demonstrates choosing experiences over an all‑out rush to early retirement is valid and valuable.
Who this episode helps
- Early‑career professionals who want a practical roadmap for turning modest incomes into strong net worth.
- Listeners deciding whether to accept relocation or international assignments.
- Aspiring real‑estate investors looking for tactical examples of small-multiunit buys, DIY rehab, and when to sell.
- Families considering how FI and parenting trade off (Coast FI strategy).
If you want a one‑sentence summary: save aggressively early, be flexible with location and role, exploit employer benefits, use real estate and DIY strategically, and let market timing + mobility compound your net worth — while still choosing life experiences when it matters.