Super Saver shares the money books that changed his financial mindset

  • Avery Heilbron didn’t learn how to invest his money until he started educating himself on the subject.
  • He read “Retire on Real Estate”, which inspired him to invest in real estate.
  • He also read “Set for Life”, which introduced him to the idea of ​​financial independence.

Growing up, Avery Heilbron understood the importance of saving money.

“I always felt like I was frugal. My family never bought flashy things or spent bad money,” the 27-year-old told Insider.

But he never learned to invest his savings. It came after college, when he started to self-educate on the subject.

Heilbron, who studied math and statistics at Colby College, took a job as a data analyst after graduating in 2018. He made a habit of leafing through

personal finance books

after work and on weekends.

Literature inspired him to find ways to make his money work harder for him.

It also introduced him to the idea of ​​financial independence, which he has already achieved, he told Insider. “Theoretically, with the investments I have … I could stop working,” said Heilbron, who owns two rental properties in Boston, which Insider confirmed. He says he saves more than 80% of its income.

The “FIRE” lifestyle (financial independence, early retirement) does not appeal to him as much as the “FIRO” lifestyle (financial independence, optional retirement). “I want to get out of the corporate gig, but as soon as I do, it becomes, ‘What’s the next thing? What projects will I do? Because I can’t sit all day,” said Heilbron, who still works full-time as a data analyst and earns more than $100,000 a year from his real estate holdings and various other hustles.

Here are the two money books that changed Heilbron’s money mindset and helped him get to where he is today.

1. “Real Estate Retreat” by Kai Anderson

Written by real estate investor and landlord Kai Anderson, “Retire on Real Estate” is what got Heilbron into landlordship. “This book opened me up to the idea of ​​using real estate as an investment and retirement vehicle, he said.

Heilbron set a goal to buy a seat as soon as possible and started saving as much of his salary as he could. After reading Anderson’s guide and listening to episodes of the popular real estate podcast “Larger pockets“, he decided to use a strategy known as “house hacking”, in which you rent out part of your house to offset your mortgage payment.

Avery Heilbron

Heilbron owns three properties and brought in more than $100,000 in rental income in 2021.

Courtesy of Avery Heilbron

That’s exactly what he did: he bought his first property – a $525,000 duplex outside of Boston – financed it with an FHA loan (he staked 3.5%, or about $18,000) and took out a monthly mortgage of $3,300. He and his girlfriend moved into the two-bedroom unit downstairs, as the loan required him to make the property his primary residence. He also found a roommate and rented the upper floor of the duplex.

Between the rent from his girlfriend, roommate, and the family that moved upstairs, Heilbron brought in $3,600 a month in rental income. This not only meant that he lived for free in his own house, but that he earned $300 a month.

Heilbron is still building his real estate portfolio, but he already earns over $100,000 a year from his two properties in Boston, he explained in one of his YouTube videos.

If you want to build long-term wealth, “I think real estate is 100% the best thing,” he said. It takes time and patience, and some savings to get started, but if done correctly, “you can create cash flow, your properties will go up in value as long as you have a long-term view, and you get a lot of taxes”. benefits.”

2. “Prepared for Life” by Scott Trench

“Set for Life” by Scott Trench teaches readers how to save 50% or more of their income while increasing their income in order to become financially free.

“It’s called ‘Set for Life’ for a reason, because you’re trying to set yourself up financially for life,” Heilbron said. “That’s the blueprint of how I tried to put my life together.”

He uses Trench’s savings strategy and focuses on controlling the “big three” expenses (housing, transportation, and food), rather than worrying about saving on small purchases like coffee. This helps him save the majority of his salary. He has also found ways to increase his income and generates side money through real estate, personal coaching and social media, including YouTube and TikTok, where he reaches nearly 200,000 combined subscribers.

Trench’s ethos can sometimes seem intense, Heilbron noted. For example, “he says if you’re driving, never listen to music because it’s a waste of time; be sure to read and listen to audiobooks instead.” But the author’s intensity resonated with Heilbron. “He’s writing to the person who’s just starting out in the corporate world, earning a median or average starting salary, and just being very careful about their savings – taking that money and investing it – in order to turn it into into something bigger and hitting financial freedom.”