Megan Gorman started learning about money very early – at age 5 she begged her parents for a Little House on the Prairie Dress. Her parents said we’re not buying it for you, but you can save up for it yourself. 18 months later, she was the proud owner of a new dress – and a bonus bonnet from her parents who were so proud of her for saving up and being so determined.Fast forward to high school, and she got a job at a vacation resort during the summer high season. Her father made it clear she was to save some of her earnings to contribute to her college tuition, and she was able to save $5,000 a summer. Her experiences with money were empowering up through college, but she ended up with credit card debt and eventually had to negotiate with the banks on a payoff.She took a year off between college and law school, choosing a state law school to keep her costs low. Megan graduated from law school, got a job, and had to navigate adulting – getting an apartment, buying a work wardrobe, starting her adult life on very little funds, again trying to not incur more debt after having so recently paid off her credit cards. Megan’s student loan story is different from others we’ve heard on the Money podcast – while she aggressively paid down her private loans, Megan actively chooses NOT to pay off her public loans because they have such a low interest rate. She feels she can make a better return in the S&P 500, so she leverages her debt and is comfortable with her decision. However, Megan readily admits this strategy is NOT for everyone, and you definitely need to be comfortable with the decision to continue to carry debt. Once her private debt was paid off, she started investing in a Roth IRA and 401k to grow her assets.And because she’s from Generation X, Megan bought a house when she got a HUGE promotion. She watched the value of her home soar, then sold to move to California. She bought in 2007 in CA, and watched that price drop, then rise again. Location location location.Megan now advises high net worth and ultra-high net worth individuals manage their money, because no matter how much money you make, everyone struggles with expenses.And today, Megan shares excellent advice with us for strategically thinking about our money for the present as well as planning for the future.In This Episode We Cover:Megan's journey with moneyThe best way to raise kidsHow her money story evolved during her high school and college daysHer debt planningInterest rate she recommends for those paying off debtsThe best approach to taxesThe first big thing she did when she started making moneyHer real estate beliefsHelping older parentsPlanning her own financial futureWhat a position capable of taking risks looks likeHer take on high net worth individualsCash flow managementHer opinion on the 4% ruleAnd SO much more!Links from the ShowBiggerPockets Real Estate PodcastBiggerPockets Intentional JournalBiggerPockets Money Facebook GroupBiggerPockets Money SurveyCheck the full show notes here: https://www.biggerpockets.com/moneyshow106See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.