Single Mom with Multiple Streams of Income, With Alka Kumar

Worth Listening

We are taking a break this week from the “Know Better. Do Better” series to hear the inspiring money memoir of one woman who is working hard to create the financial life she desires while still having the quality of life that she wants. If you are burnout and exhausted from your job, this might be an inspiring message for you to listen to.

Today’s guest is Alka Kumar. She grew up in India, where she went to medical school and eventually came to the United States. She spent nearly 30 years working as a physician when she realized that she was overworked and getting close to reaching the point of being burnt out.

Instead of toughing it out because she was getting closer to being able to retire, she realized she needed to make some changes in her life. She cut back her hours so she could work part-time and began to educate herself on real estate investing. Before she knew it, she bought her first property and was finally on the path to earning passive income. She now owns and manages 16 units and is continuing to grow and expand her portfolio.

Alka is also excited to help give back by sharing financial and real estate information to help other professionals, especially single women learn to line up multiple income streams instead of just depending on their 9 to 5 job.

In This Episode We Discuss:

• What it was like growing up in India and what made Alka move to Canada (and then the US)
• The difference between the cost of college in India vs. the US
• Some of the great financial principles that Alka lives by
• How she educated herself on investing and real estate
• Why she’s working as her own property manager and if she plans to continue that in the future
• Why she started small when buying her first investment property
• Some of the horror stories of being a landlord and why she still thinks it’s one of the best things
• The unexpected expenses that come with being a landlord
• How Alka has financed her properties
• The importance of having a “get rich slow” mindset

If you want to learn more about Alka Kumar and the work she’s doing you can connect with her at: Website: https://www.yourwealthmd.com/ LinkedIn: @alka-ally-kumar-120b43149 Facebook: @YourWealthMD

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