Alle afleveringen
814 afleveringen, van nieuw naar oud
-
508: Budgeting Tips for Families Living on ONE Income
5 maart 2024 · 32 min
Can you really be a one-income family in 2024? Not if you don’t know how to budget! To achieve her money goalswhile living on a single middle-class income, Emy knew she had to take control of her finances and seize any opportunity to save money. Single or married, you’ll learn to do the same in this episode! Lees meer
Welcome back to the BiggerPockets Money podcast! Today, we’re chatting with budgeting coach Emy Lee, who was able to achieve her lifelong dream of being a stay-at-home mom by cleaning up her family’s finances. Of course, this was no easy feat. Growing up, Emy was taught very little about personal finance. It was only after shifting her mindset, creating a budget, and building smart money habits that she was able to make raising a family on one income a reality.
In this episode, Emy shares some of her top budgeting tips—from saving money on groceries to avoiding common spending triggers. You’ll also learn about the 50/30/20 rule that makes budgeting easy, the “spendfluencing” problem to be mindful of when scrolling through social media, and the budgeting hack people with irregular income can use to keep their finances in order!
In This Episode We Cover
How Emy raises a family on a single middle-class income
Lowering your grocery bill each month with simple shopping hacks
The “carryover” fund that people with variable income MUST have
How to avoid “spendfluencing” pitfalls on social media
The most common spending triggers (and how to combat them!)
Creating a realistic budget for your family using the 50/30/20 rule
And So Much More!
Links from the Show
BiggerPockets Money Facebook Group
Network with Other Investors on The Path to FIRE Through the BiggerPockets Forums
Finance Review Guest Onboarding
Join BiggerPockets for FREE
Mindy on BiggerPockets
Scott on BiggePockets
Listen to All Your Favorite BiggerPockets Podcasts in One Place
Apply to Be a Guest on The Money Show
Podcast Talent Search!
Money Moment
Slash Your Food Budget by $150+ Per W…
-
507: The Path to Early FI, Transferring 401(k) Funds, & Wiping Out Bad Car Debt
1 maart 2024 · 38 min
Everyone wants to reach financial independence as soon as possible. But if you really want to get on the path to early FI, you’ve got to start making savvy money decisions TODAY. And we’ve got a few tips, tricks, and tools that will help you out! Lees meer
Welcome back to the BiggerPockets Money podcast! In this episode, Mindy and Amanda Wolfe are fielding questions from the r/PersonalFinance subreddit and delivering their best money tips for scenarios that YOU could easily find yourself in. First, we get into 401(k) accounts and some of the different ways to transfer funds when you leave your employer. We also go over some of the different strategies for budgeting, investing, and saving money that will help you reach financial freedom early.
But that’s not all! If you live in an area with a competitive housing market, we discuss whether you should ever waive a home inspection to help sweeten your offer. We even talk about the idea of buying a house outright versus going the route of a traditional mortgage. Is a large car payment thwarting your path to financial freedom? Stay tuned for a few creative ways to get rid of that bad debt for good!
In This Episode We Cover
Tips and tricks to help you reach financial independence early
What to do with a 401(k) account from a previous employer
Buying your home outright versus getting a traditional mortgage
Whether you should ever waive your home inspection when buying a house
Creative ways to eliminate car debt (and save thousands in the process!)
And So Much More!
Links from the Show
BiggerPockets Money Facebook Group
Network with Other Investors on The Path to FIRE Through the BiggerPockets Forums
Finance Review Guest Onboarding
Join BiggerPockets for FREE
Mindy on BiggerPockets
Listen to All Your Favorite BiggerPockets Podcasts in One Place
Apply to Be a Guest on The Money Show
Podcast Talent Search!
Money Moment
Find an Investor-Friendly Agent in Your Area
Find Investor-Friendly Lenders
The Millionaire Fast…
-
506: How to Use Your Money "Archetype" to Address Your Biggest Financial Burdens
27 februari 2024 · 35 min
After tremendous research, the “MoneyType” quiz was finally released. All you need to do is answer some basic questions, and in a matter of minutes, you’ll know your biggest financial strengths and burdens, the money traps you could fall into, and how to use your own money “gift” to make your life, and your loved ones’ lives, even better. But before you write off the MoneyType quiz as just another personality test, we can tell you from personal experience it’s shockingly accurate. Lees meer
And there’s no one better to talk about the MoneyType process than the co-founder of HerMoney and co-creator of the MoneyType personality quiz, Jean Chatzky. Jean’s team tested the MoneyType process on hundreds of people, uncovering the core personality traits that could make you a producer, visionary, nurturer, independent, or connoisseur, and what to do once you know what MoneyType you are.
In today’s show, Mindy and Scott share their results from the quiz as Jean walks through each of these financial archetypes in detail. You’ll learn what strengths each archetype has, the financial pitfalls they easily fall into, the gifts they can use to empower themselves and others, and the financial pleasures each type lives for. Plus, you can take the MoneyType quiz completely for free here!
In This Episode We Cover
The five financial archetypes and the pros, cons, and pitfalls of each of them
Mindy and Scott’s most prominent MoneyType (and how it led them to financial success)
The “sabotage” points of each personality that could lead to HUGE financial problems
Using your MoneyType to set up financial “guardrails” in your life and protect against your personality’s downsides
Using your MoneyType to understand your partner, family members, and friends more
Mindy’s two-percent MoneyType match that proves why it’s SO hard for her to spend money
And So Much More!
Links from the Show
BiggerPockets Money Facebook Group
Network with Other Investors on The Path to FIRE Through the BiggerPock…
-
505: Need a Financial Advisor? Start Here!
23 februari 2024 · 22 min
Most financial advisors aren’t what they seem. They paint themselves as stewards of your financial security, carefully analyzing every investment they put your money into. But that’s far from the truth. Many financial advisors simply use you to make a quick buck, leaving you worse for wear when it comes to retirement. So, how do you find a financial advisor who will actually help you build wealth without filling their own pockets at your expense? We’re about to give you the roadmap to finding the perfect financial advisor. Lees meer
We’re back with Jeremy Schneider, the bootstrapped founder who became an overnight millionaire thanks to a decade of tough decisions. This time, Jeremy shares about the world of financial advising, ranking the types of advisors from worst to best and sharing why that life insurance policy might be a BAD financial decision.
If you’re struggling to find financial advice from a neutral third party who truly wants the best for your finances, this is the episode to listen to. Jeremy talks about the two financial advisors to never trust, the costly difference between fee-based and fee-only advisors, the financial “meth” that could cost you in the long run, and exactly where to find a financial advisor that truly works for YOU.
In This Episode We Cover
The four types of financial advisors and the two you MUST stay away from
Fee-based vs. fee-only financial advisors and why you CANNOT afford to mix these up
The “whole life insurance” scam that’s trapping many Americans with false financial promises
The sneaky commissions financial advisors make that you have no idea about
One place you can go to find trusted financial advisors with NO strings attached
And So Much More!
Links from the Show
BiggerPockets Money Facebook Group
Network with Other Investors on The Path to FIRE Through the BiggerPockets Forums
Finance Review Guest Onboarding
Join BiggerPockets for FREE
Mindy on BiggerPockets
Scott on BiggePockets
Listen to All Your Favorite Big…
-
504: Early Retirement at 36 by Doing What EVERY Entrepreneur Should
20 februari 2024 · 34 min
If you want to reach early retirement, especially in your thirties, you’ll need to take some big risks. Today’s guest turned down what would have been a dream salary to many people, choosing to work for himself while making close to a third as much as a job would have paid him. He put in the time and sweat, making just enough money to survive for over a decade, living as frugally as he could so he could roll everything back into his business. Then, overnight, he became a multimillionaire. And guess what? You can, too. Lees meer
One day, at the age of thirty-four, Jeremy Schneider found himself $2,000,000 richer than he had been the day before. He had successfully sold a company he’d been building for a decade, making him, his family, and his employees wealthy in the process. Then, he did what every burnt-out founder does: travel the world, play volleyball and video games, and get some much-needed rest. But soon after, he decided to return to work, focusing on something much more important.
In this episode, Jeremy gives a masterclass on the right way to build your business, how to sell it for millions more than you were originally offered, and exactly what you should do with the money afterward to STAY financially free.
In This Episode We Cover
How to reach early retirement in your thirties by building (and selling) a business
When it makes sense to take a paycheck vs. bet on yourself
How companies are bought and sold and the negotiations behind closed doors
The MASSIVE amount of taxes Jeremy had to pay after selling his business
What Jeremy did with his $2,000,000 payday that set him up for life
And So Much More!
Links from the Show
BiggerPockets Money Facebook Group
Network with Other Investors on The Path to FIRE Through the BiggerPockets Forums
Finance Review Guest Onboarding
Join BiggerPockets for FREE
Mindy on BiggerPockets
Scott on BiggePockets
Listen to All Your Favorite BiggerPockets Podcasts in One Place
Apply to Be a Guest on The Money Show
Podca…
-
503: How to Keep MORE of Your Inheritance From the IRS (Avoid These Tax Mistakes!)
16 februari 2024 · 38 min
With solid tax planning, receiving an inheritance could provide an enormous boost on your journey to financial freedom. One misstep, on the other hand, and you could be lining Uncle Sam’s pockets. Fortunately, we’ve brought on a tax professional to help you keep as much of your newfound money as possible. Lees meer
There are two certainties in life: death and taxes. In this episode of the BiggerPockets Money podcast, we’re combining them. Sean Mullaney, The FI Tax Guy, returns to the show to lend his expertise on inherited investment accounts. Whether you’re the spouse, child, or sibling of a loved one who has recently passed, you’ll need a plan for managing these financial assets. Otherwise, a huge inheritance “tax bomb” could be waiting for you down the line!
Sean discusses the four “buckets” of assets you can inherit and the steps you should take in each scenario. You’ll also learn about the “step-up in basis” exemption that allows you to dodge capital gains tax on certain accounts, as well as when you might need to take required minimum distributions (RMD)—even if you’re far from retirement. Grab your pen and paper as we get into the nitty-gritty of inheriting wealth.
In This Episode We Cover
How to pay less tax on your inherited investment accounts
The four “buckets” of financial assets you might inherit
Navigating the “ten-year rule” and preventing a HUGE tax bill
Dodging capital gains tax with the “step-up in basis” exemption
How to avoid early withdrawal penalties on spousal accounts
The “worst” account to leave for an heir (and what to do with it instead!)
How to pass a retirement account on to a spouse, child, or sibling
And So Much More!
Links from the Show
BiggerPockets Money Facebook Group
Network with Other Investors on The Path to FIRE Through the BiggerPockets Forums
Finance Review Guest Onboarding
Join BiggerPockets for FREE
Mindy on BiggerPockets
Scott on BiggePockets
Listen to All Your Favorite BiggerPockets Podcasts in One Place
Apply …
-
502: The Money Apps, Habits, and Productivity Hacks That Helped Us Find FI
13 februari 2024 · 26 min
These personal finance apps, tools, products, and habits helped us reach financial independence, and they can do the same for you. If you’re on the road to FIRE or have finally made it to financial freedom, ANY of these tools can help you save, invest, and learn more along the way. But we’re not just sharing the FIRE toolkit we love; we’re also sharing the products we’re ditching, plus what we’re replacing them with for a brighter financial future! Lees meer
If you’re already feeling lost with your financial New Year’s resolutions, worry not because these personal finance apps, tools, products, and habits are here to help! Mindy and Scott will walk through every tool they love, what they can live without, and what helped them reach financial independence. We’ll talk about budgeting and money management apps, goal-setting processes that’ll help you achieve even your wildest dreams, how to learn faster than ever, and the“life-changing” money products we would never replace.
If you’re in need of beefing up your arsenal of financial independence tools, this is the episode to tune into! Wondering where you can find links to all the products and services mentioned in today’s show? Just scroll down in the show notes!
In This Episode We Cover
Why you may want to try spending MORE (yes, MORE) in 2024 if you’re in THIS position
Indispensable personal finance tools that helped us reach financial freedom
Budgeting apps that we personally use to track our monthly spending
Mindy’s smart travel hack that’ll help you avoid productivity-killing jetlag
The one “journal” that changed Scott’s life forever (and where to find it)
How to learn faster than ever before and boost your reading speed significantly
The BIG investment Scott is ditching in 2024 and the “crash” on the horizon
And So Much More!
Links from the Show
BiggerPockets Money Facebook Group
Network with Other Investors on The Path to FIRE Through the BiggerPockets Forums
Finance Review Guest Onboarding
Join BiggerPoc…
-
501: Finance Friday: When to STOP Investing and Start Saving Cash Instead
9 februari 2024 · 43 min
Do you have a cash flow problem? You’re not alone! Dan invests in real estate, has a great W2 job, and maxes out his investment accounts. He wants to hit financial independence by forty, but his lack of cash is making things difficult. Something’s got to give, and Mindy and Scott are here to help! Lees meer
Welcome back to the BiggerPockets Money podcast! Dan has done an amazing job investing for the future and house hacking throughout his 20s. But now he’s got a MAJOR problem on his hands. Although he and his wife earn around $200,000 per year, they have little to no cash available. With real estate debt, hospital bills, and new baby expenses, Dan is starting to feel the pressure. That extra cash he was able to accumulate only a few years ago? It’s not so easy to find anymore.
In this episode, Mindy and Scott take a deep dive into Dan’s finances to help solve his cash flow problem. Should he follow his real estate dream and pause his retirement account contributions or pivot to a job that will increase his income by another $50,000 per year? Stay tuned to find out!
In This Episode We Cover
Savvy ways to increase your cash flow without taking on more debt
Dan’s house hacking strategy that covers a HUGE chunk of his mortgage
Using a home equity line of credit (HELOC) to buy real estate
How to ask for a raise (and when to pivot to a higher-paying job)
Investing in real estate versus building up your retirement accounts
How Dan plans to reach $10,000/month in “passive” income by the age of forty
And So Much More!
Links from the Show
BiggerPockets Money Facebook Group
Network with Other Investors on The Path to FIRE Through the BiggerPockets Forums
Finance Review Guest Onboarding
Join BiggerPockets for FREE
Mindy on BiggerPockets
Listen to All Your Favorite BiggerPockets Podcasts in One Place
Apply to Be a Guest on The Money Show
Podcast Talent Search!
Money Moment
Intentionally Choosing the Path to Financial Independence with Financial Mechanic
Systematica…
-
500: FIRE Advice from Codie Sanchez, Ramit Sethi, Money with Katie, and More!
6 februari 2024 · 38 min
After 500 BiggerPockets Money episodes, we’ve learned a thing or two about financial independence. But, for this special episode, we wanted to find some of the best advice we’ve ever received on the show—advice that changed our lives as much as it did yours. So, we’ve lined up a few of our favorite clips from the past 500 episodes with top-tier guests like Codie Sanchez, Ramit Sethi, and more. If you’re a new listener of BiggerPockets Money, this is just a TASTE of what you’ll hear on future episodes. Lees meer
We’ll touch on a “financial awakening” one of our past guests had, finding that many of us live a “broken” life without even realizing it. Then, a spending hack that lets you live in frugal luxury while slashing your expenses. We talk abouthow to escape your nine-to-five and buy a business that helps you achieve true financial freedom. Finally, the “worry-free number” you MUST calculate unless you want to experience zero joy from all the wealth you’ve built. Hard-hitting stuff, right?
Thanks for sticking around with us for 500 episodes of the BiggerPockets Money show. We could not have made this podcast happen without you, and we’re looking forward to hearing from and potentially even featuring YOU on an upcoming episode!
In This Episode We Cover
The “little choices” you’re making that’s blowing your budget every single month
Why living for the weekend is killing your bank account and financial future
How to live a frugally luxurious life by buying what you truly WANT
The ten steps to buying a “boring business” that’ll replace your income
The “worry-free number” that removes the emotional weight of finances and lets you actually have fun with your money
What you can expect from the BiggerPockets Money podcast in 2024!
And So Much More!
Links from the Show
BiggerPockets Money Facebook Group
Network with Other Investors on The Path to FIRE Through the BiggerPockets Forums
Finance Review Guest Onboarding
Join BiggerPockets for FREE
Mindy on BiggerPockets
… -
499: How to Make Money as an Artist
2 februari 2024 · 39 min
Most people pursuing financial independence own businesses or have stable jobs, working as hard as they can to make any extra dollar, throwing their money into the stock market or real estate, and betting on the economy to take them to higher and higher levels of wealth. But what about those who AREN’T chasing every dollar or dedicating their lives to the pursuit of passive income? Can creatives, musicians, writers, or anyone wondering how to make money as an artist still find FIRE? Lees meer
Today, we’re talking to Paco de Leon, business owner, musician, podcast host, and author of Finance for the People: Getting a Grip on Your Finances. Paco’s world involves working with other creatives who rarely speak or think about money, helping them link their creative work with cash flow so they can continue doing what they love while building wealth for the future.
Paco knows the system we live in isn’t perfect but recognizes that simply not participating isn’t an option. So, she serves as a voice for those who want to make a difference in the world, go against the grain, or care more about people than profit. In today’s episode, she’ll share the common money mistakes most creatives make that end up hurting them in the long run and why making money and building wealth is something ANYONE can accomplish, no matter your life’s passion!
In This Episode We Cover
Common money problems for creatives and how to build wealth without selling out
The two ways you’ll get rich and how you can “create” your own financial independence
Why your good “idea” isn’t enough, and what you MUST do to make money off of it
Living in an imperfect world and the “dark side” of capitalism many people ignore
Why making money and making art are NOT mutually exclusive (and how to do both!)
And So Much More!
Links from the Show
BiggerPockets Money Facebook Group
Network with Other Investors on The Path to FIRE Through the BiggerPockets Forums
Finance Review Guest Onboarding
Join BiggerPockets for FRE…
-
498: Paying Off $118K of Debt in 2 Years and Buying Real Estate (16 Units!)
30 januari 2024 · 37 min
Real estate investing is a popular path to financial freedom, but if you’re not careful, bad debt can get in the way. Before today’s guest could buy rental properties, she had to deal with the mountain of debt that stood between her and wealth. But thanks to aggressive saving and new money habits, she became debt-free in just TWO years! Lees meer
Sarah King has been thrown several curveballs on her journey to financial independence. Just when she had managed to pay off $118,000 of debt and buy five properties, her marriage ended in a nasty divorce. Forced to liquidate her and her husband’s assets, Sarah was back at square one. Rather than giving up on her dream of reaching FIRE, she overcame her shaky financial situation and found creative ways to buy real estate. Within a few months, she was back on her feet, and today, she owns sixteen units across ten properties!
In this episode, Sarah offers some crucial advice for aspiring investors—including why you should get your financial house in order before buying properties, how to leverage your retirement accounts to buy more properties, and how to use private money (responsibly). You’ll even learn about house hacking—the real estate investing strategy Sarah uses to cover her mortgage payment each month!
In This Episode We Cover
How to reach financial freedom by investing in real estate
The three areas of your finances that will help you build wealth faster
How to pay off BAD debt as quickly as possible
Why you MUST get your financial house in order before buying properties
How to use private money to buy MORE real estate
Covering your mortgage payment with the house hacking strategy
And So Much More!
Links from the Show
BiggerPockets Money Facebook Group
Network with Other Investors on The Path to FIRE Through the BiggerPockets Forums
Finance Review Guest Onboarding
Join BiggerPockets for FREE
Mindy on BiggerPockets
Listen to All Your Favorite BiggerPockets Podcasts in One Place
Apply to Be a Guest on The Mon…
-
497: Persuasion Secrets and Predatory Practices Businesses Use on YOU
26 januari 2024 · 37 min
By the time you finish this episode, you’ll be ten thousand dollars richer. Just read this testimonial from a recent BiggerPockets Money listener, “I’m so rich now, I have no idea what to spend all my money on. And all it took was listening to this episode.” But act fast because, in five minutes, this episode WON’T be available anymore. Lees meer
None of the above is true. But you probably caught on to a few of the psychological tricks many marketers use to push you into purchasing, even when you’re not ready to. And with so much mentoring, online course-selling, guru-ing, and get-rich-quick promising, it’s hard NOT to fall into these traps. How do you know who actually wants to help you and who’s just waiting to grab onto your wallet?
Tarzan Kay has spent years using persuasion-first business tactics to prompt potential customers into purchasing, building a seven-figure income stream in the process. It wasn’t until she realized that these tactics did more harm than help that she decided to burn down the business she had built. Now, she’s sharing all the persuasion secrets marketers are using on YOU and teaching you how to build a business the better way.
In This Episode We Cover
The “principles of persuasion” businesses use to trick you into buying
Common predatory practices online gurus and mentors commonly use
HUGE red flags to watch out for before you buy ANY online course
How to ensure your business NEVER tricks potential customers into buying
Vetting your own clients and customers BEFORE they have the chance to pay you
And So Much More!
Links from the Show
BiggerPockets Money Facebook Group
Network with Other Investors on The Path to FIRE Through the BiggerPockets Forums
Finance Review Guest Onboarding
Join BiggerPockets for FREE
Mindy on BiggerPockets
Listen to All Your Favorite BiggerPockets Podcasts in One Place
Apply to Be a Guest on The Money Show
Podcast Talent Search!
Money Moment
Warning: Why You Shouldn’t Buy What the Gurus Are Selling
Cli…
-
496: 24 Money Tips for 2024: How to Save on Rent AND Travel for Free!
25 januari 2024 · 10 min
If you want to reach financial freedom, knowing how to save money is crucial. Today, Mindy and Kyle deliver some special tips that will help you save on housing, food, travel, and other common money categories in 2024! Lees meer
In this final episode of our four-part money tips series, we’re looking to help you improve your quality of life while saving money. Do you pay a premium to live in an expensive city that you don’t have time to explore? Perhaps it’s time to pack up and move to an area with a lower cost of living. Instead, scratch your itch to see the world by using credit cards to travel for FREE!
Is your monthly grocery bill getting out of control? Choose a cheaper store, take advantage of sales, or do “mini” shops that help you eliminate waste. Finally, do you spend a fortune on things like eating out or going to the spa? Learn how you can recreate these experiences at home for a fraction of the cost!
In This Episode We Cover
How to save money on groceries with savvy food budget tips
Why you should consider moving to an area with a lower cost of living
Creating “at-home” experiences that put money back in your pocket
How to improve your quality of life with small but effective upgrades
Building the healthy habit of charitable giving (and how to plan your donations!)
Choosing a FIRE goal that gives you “enough” money to support your lifestyle
Traveling for FREE by racking up credit card rewards
And So Much More!
Links from the Show
BiggerPockets Money Facebook Group
Network with Other Investors on The Path to FIRE Through the BiggerPockets Forums
Finance Review Guest Onboarding
Join BiggerPockets for FREE
Mindy on BiggerPockets
Listen to All Your Favorite BiggerPockets Podcasts in One Place
Apply to Be a Guest on The Money Show
Podcast Talent Search!
Money Moment
Check Out Part 1 of Our 24 Money Tips for 2024
Check Out Part 2 of Our 24 Money Tips for 2024
Check Out Part 3 of Our 24 Money Tips for 2024
Ramit Sethi Revisited: Spend Like Your L…
-
495: The Digital Nomad’s Guide to High-Income Skills and Making Money Online
23 januari 2024 · 49 min
Learning high-income skills can help you make money online—and a LOT of it! Just ask today’s guest, who worked not one but SEVEN internships to develop professional skills that would help her launch several successful online businesses down the road! Lees meer
Welcome back to the BiggerPockets Money podcast! Jo Franco is an entrepreneur, YouTuber, podcast host, and digital nomad with multiple income streams. Born to undocumented immigrants, Jo didn’t have much growing up other than her family and a chance to pursue the American Dream, but what she lacked in money and resources, she made up for in pure work ethic. Throughout her teens and twenties, Jo worked all kinds of jobs, side hustles, gigs, and internships that allowed her to save money and even travel the world for FREE.
Since then, Jo has had her own Netflix show, built a successful YouTube channel, and launched her own journaling company. In this episode, she shares exactly how she made all of this happen, the keys to her success, and important money management tips for entrepreneurs. She also talks about the biggest mistake she has made in her career to date: hiring the wrong people!
In This Episode We Cover
The high-income skills you NEED to become a successful entrepreneur
How to become a digital nomad (and travel the world for FREE)
Reducing your financial risk by keeping your expenses down
The true value of unpaid internships (and how to make the most of them!)
Crucial money management tips for all entrepreneurs
How to save money WITHOUT the consistency of a W2 paycheck
How to get the highest return on your investment in people
And So Much More!
Links from the Show
BiggerPockets Money Facebook Group
Network with Other Investors on The Path to FIRE Through the BiggerPockets Forums
Finance Review Guest Onboarding
Join BiggerPockets for FREE
Mindy on BiggerPockets
Scott on BiggerPockets
Listen to All Your Favorite BiggerPockets Podcasts in One Place
Apply to Be a Guest on The Money Show
Podcast…
-
494: How to Buy a House, Fund a Business, & Invest “Extra” Cash in 2024
19 januari 2024 · 42 min
Want to learn how to buy a house in 2024? Whether you have outstanding credit or your score could use a little work, there are different ways to buy. In this episode, we’ll lay out your best options and provide actionable steps you can take to boost your credit score in the meantime! Lees meer
Welcome back to the BiggerPockets Money podcast! Today, Mindy and Kyle are fielding some of your biggest money questions. Beyond buying a home, you’ll learn how to use your home equity to fund your new business idea. Have you run into some “extra” cash recently? We share investing strategies that will allow you to “hack” tax brackets and position yourself to retire early.
This year, it’s crucial that you get on the same page with your partner, financially. Mindy and Kyle talk about the tough but essential “meetings” you should be having about your budget. Finally, is there ever a time when it makes sense to buy a depreciating asset like a brand-new car? Our hosts’ answer might surprise you!
If you want Mindy and Kyle to answer a money question, you can submit a question here or post it in the Money Facebook Group!
In This Episode We Cover
How to buy a house in 2024 with less-than-perfect credit
What you MUST know before entering a home equity agreement
The BEST ways to fund your new business idea
How to buy a brand-new car and stay on track for FIRE
How to invest “extra” money and “hack” your tax bracket to owe less
The finance “meetings” you NEED to have with your partner
And So Much More!
Links from the Show
BiggerPockets Money Facebook Group
Network with Other Investors on The Path to FIRE Through the BiggerPockets Forums
Finance Review Guest Onboarding
Join BiggerPockets for FREE
Mindy on BiggerPockets
Listen to All Your Favorite BiggerPockets Podcasts in One Place
Apply to Be a Guest on The Money Show
Podcast Talent Search!
Money Moment
When to Buy New vs. Used and is That Car Repair Worth the Cash
The Money Date: What You Should (And Definitely Should Not) …
-
493: 24 Money Tips for 2024: The BEST Ways to Invest Your Money THIS Year
18 januari 2024 · 9 min
Looking to be a better investor in 2024? A few simple adjustments could help your money work much harder for you this year, and our hosts are here to lend a hand! Lees meer
In part three of our four-part money tips series to kick off 2024, Mindy and Kyle offer some top-notch advice on how to invest your money this year. You’ll learn about the importance of tracking your finances year-round, savvy retirement planning, and, if you’re a real estate investor, putting some of your “lazy” equity to better use!
Beyond investing, our hosts provide several money hacks that will help you chip away at your expenses this year—whether it’s taking advantage of autopay or annual-pay discounts or pivoting to a low-cost phone plan. Finally, they discuss how spending money can actually propel you toward your FIRE goal!
In This Episode We Cover
How to be a better investor in 2024 and beyond
Finding the perfect method to track your finances year-round
Paying a fraction of your current phone bill by switching to a cheaper plan
Saving money on bills with autopay and annual pay options
How to spend money, enjoy your life, and still save BIG
Getting the highest retirement account benefit by planning contributions
Making your money work harder by optimizing your investment portfolio
Reinvesting the “lazy” equity in your real estate portfolio
And So Much More!
Links from the Show
BiggerPockets Money Facebook Group
Network with Other Investors on The Path to FIRE Through the BiggerPockets Forums
Finance Review Guest Onboarding
Join BiggerPockets for FREE
Mindy on BiggerPockets
Listen to All Your Favorite BiggerPockets Podcasts in One Place
Apply to Be a Guest on The Money Show
Podcast Talent Search!
Money Moment
Check Out Part 1 of Our 24 Money Tips for 2024
Check Out Part 2 of Our 24 Money Tips for 2024
Ramit Sethi Revisited: Spend Like Your Life Depends on It
Find a Discount Phone Plan:
Mint Mobile
Visible
Click here to check the full show notes: https://www.biggerpocket…
-
492: How Much Do You NEED to Retire? It’s Less Than You’d Think
16 januari 2024 · 48 min
Everyone tells you you’ll need millions to retire, let alone retire early. You hear it all over mainstream financial media, “You need FIVE million dollars” or “Three million dollars is enough, but you have to be frugal!” Even having half a million dollars in investments seems like a lofty goal for most Americans. Are these financial “experts” just out of touch with the everyday person? And if so, is there a way to retire with less than a million dollars? Surprisingly, yes! Lees meer
Wes Moss, certified financial planner, money educator, and author of the best-selling book You Can Retire Sooner Than You Think, is here to show you that retirement isn’t that far away. Through some simple calculations, Wes enlightens us on how many Americans are already in the position to retire and why you don’t need many millions to live a comfortable post-work life. But that’s just the tip of this financial education iceberg.
We get into a much deeper discussion with Wes about what a happy retirement really looks like and the key signs that you’ll live a satisfying retirement life. There are two main factors to a happy retirement, and if you haven’t been paying attention to them, you can almost guarantee you WON’T enjoy financial freedom when you achieve it. So, if you want a happier, healthier, wealthier, and longer retirement, stick around!
In This Episode We Cover
The two most crucial factors of having a happy retirement (it’s NOT money)
Why you DON’T need to be a millionaire to retire or retire early
The wave of “unretired” and why those over fifty-five are going back into the workforce
Why eighty percent of Americans DON’T like their job and how this is hurting retirement investing
The multiple streams of income you need to retire on your terms
Social security, pensions, and other retirement income many Americans forget about in their calculations
And So Much More!
Links from the Show
BiggerPockets Money Facebook Group
Network with Other Investors on The Path to FIRE Through…
-
491: Why You DON’T Need a College Degree to Reach Financial Freedom
12 januari 2024 · 1 uur 5 min
Do you dream of hitting financial independence before the age of fifty, forty, or even thirty? In this episode, we’re joined by two of the SheeksFreaks community’s finest—a pair of scrappy entrepreneurs who decided to skip collegeand pursue a much faster path to financial freedom. Lees meer
First up, we chat with Adrian Zapata, a twenty-two-year-old serial entrepreneur who now owns multiple thriving seasonal businesses. During the spring, summer, and fall months, Adrian delivers lawn care and tree trimming servicesto the locals of San Antonio, Texas. But, once the holiday season rolls around, that’s when the real cash cow takes over: a Christmas lights installation business that brings in a whopping $115,000 in only two months!
Next, Javier Leyva shares how he was able to achieve financial independence by just twenty-six years old despite his underprivileged upbringing. After performing his own cost-benefit analysis, Javier determined that getting a traditional bachelor’s degree wasn’t the right path for him. Instead, he joined the workforce and took actionable steps toward FI—doubling down on saving money, finding a higher-paying job, and increasing his income with the house hacking strategy!
In This Episode We Cover
Two unique ways to achieve financial independence before the age of 30
How to boost your income with the house hacking strategy
The HUGE revenue potential of building a seasonal business
The case for SKIPPING college and choosing the straight path to FI
Why you NEED to plug into a personal finance community (and stay accountable!)
Why financial education—NOT a college degree—is the key to financial freedom
And So Much More!
Links from the Show
BiggerPockets Money Facebook Group
Network with Other Investors on The Path to FIRE Through the BiggerPockets Forums
Finance Review Guest Onboarding
Join BiggerPockets for FREE
Mindy on BiggerPockets
Scott on BiggerPockets
Listen to All Your Favorite BiggerPockets Podcasts in One Place
Apply to Be a Gue…
-
490: 24 Money Tips for 2024: How to Slash Your Expenses and Save MORE This Year
11 januari 2024 · 13 min
With a few money tips for 2024, you could take your savings to a new level this year. From investment fees to utilities, there are all kinds of everyday expenses that you might not have thought to slash! Lees meer
Welcome back to the BiggerPockets Money podcast! In part two of our money tips series, Mindy and Kyle go over some of the best and easiest ways to save money. If you haven’t shopped around for insurance in the last year, chances are you’re paying too much! We talk about how finding a broker can help you out in a big way.
We also recommend several home upgrades—such as installing LED bulbs, adding insulation to your attic, and investing in low-flow showerheads—that could help you save a fortune on your energy bill. You’ll find out that even something as simple as stashing your tax refund in a savings account could make a huge difference!
In This Episode We Cover
How to find out if you’re spending too much on investment fees
The energy-efficient home upgrades you NEED to make in 2024
How to save a fortune on your electric bill by insulating your attic
The SMART way to use your tax refund this year
Why you NEED to shop for insurance every six months (and find a broker!)
Protecting your family’s financial future before you pass away
And So Much More!
Links from the Show
BiggerPockets Money Facebook Group
Network with Other Investors on The Path to FIRE Through the BiggerPockets Forums
Finance Review Guest Onboarding
Join BiggerPockets for FREE
Mindy on BiggerPockets
Listen to All Your Favorite BiggerPockets Podcasts in One Place
Apply to Be a Guest on The Money Show
Podcast Talent Search!
Money Moment
Check Out Part 1 of Our 24 Money Tips for 2024
How to Find the Best Possible Certified Financial Planner (CFP) for Your Needs with Kyle Mast
The Post-Passing Plan: 3 Steps to Protect Your Family’s Financial Future
Organize Your Family’s Most Important Information with the Family Emergency Binder
Click here to check the full show notes: https://www…
-
489: Humphrey Yang: How to Save $100K, Quit Your Job, and Build a Business
9 januari 2024 · 42 min
You probably already know who Humphrey Yang is, and even if you don’t, there’s a good chance you’ve seen one of his YouTube, TikTok, or Instagram videos. A few years ago, Humphrey’s internet presence was almost non-existent. He was living off savings, trying to find a business that would hit traction, until one day, he started posting financial content online. Within thirty days, he had a six-figure follower count. But this wasn’t by luck or accident; it was by design. Lees meer
Humphrey knew that to start any successful business, it would take testing—a lot of testing. So, he set out to test content that not many other people were making, showing anyone and everyone on the internet what not to buy, the best ways to invest, and how they, too, could become wealthy, or at least not end up broke.
But Humphrey was ONLY able to do this after saving up a significant amount of money from past jobs, going extremely frugal, and realizing that he needed to do whatever it took to work for himself. And if you’re struggling to find your path and feel like being an entrepreneur is what you’re meant to do, Humphrey can help! In this episode, he’ll show you EXACTLY how he “tested” his way to wealth, made financial and entrepreneurial “hypotheses,” and grew an online following to over a million people in just a few years.
In This Episode We Cover
The benefits of extreme frugality and how to save six figures on an average salary
Starting your own business and how to “test" whether it’ll stick
Going viral online in only a month and how to find your niche with customers/viewers
Why you MUST fail at multiple businesses before you find success
Using your “unfair” advantage to get ahead in whatever industry you’re in
And So Much More!
Links from the Show
BiggerPockets Money Facebook Group
Network with Other Investors on The Path to FIRE Through the BiggerPockets Forums
Finance Review Guest Onboarding
Join BiggerPockets for FREE
Mindy on BiggerPockets
Scott on BiggerPockets
Listen …
-
488: How to Pay Off Credit Card Debt FAST ($30K+ in 1 Year!)
5 januari 2024 · 38 min
Today, we’re going to show you how to pay off credit card debt FAST. It isn’t glamorous, and it won’t be easy, but if you can do it, an entire world of wealth-building, opportunity, and financial freedom awaits. So, if you’ve gotthousands in credit card and consumer debt and are tired of feeling shackled to failing finances, get ready to take some notes—this is what it takes to become debt-free! Lees meer
Brittney Reynolds found herself like many Americans: out of money, maxed out on credit cards, living well above her means, and having no financial independence. She was going on vacations she couldn’t afford, renting in a high-cost-of-living area, seeing her debt climb with every swipe, but realizing too late how much of a problem it was. By the time Brittney faced reality, her credit card debt had ballooned to $36,000. But, instead of ignoring it, she made some drastic life changes.
Now, only a few months into her debt payoff journey, Brittney has already paid off $12,000 in credit card debt, with plans to be entirely debt-free by the start of the summer. How will she pay off such a massive amount of debt in under a year? Stick around to hear her strategy; if you’re in a situation like her, you too could be debt-free faster than you think!
In This Episode We Cover
How to pay off credit card debt FAST, no matter how big your balance is
Building wealth as a complete beginner and how to invest when starting from zero
The simple ways that we overspend without even realizing it
How not having enough savings can leave you vulnerable in life
One move that will help Brittney pay off her debt in record time
Whether to invest, save, do both, or neither while paying off debt
And So Much More!
Links from the Show
BiggerPockets Money Facebook Group
Network with Other Investors on The Path to FIRE Through the BiggerPockets Forums
Finance Review Guest Onboarding
Join BiggerPockets for FREE
Mindy on BiggerPockets
Scott on BiggerPockets
Listen to All Your Favorite BiggerP…
-
487: 24 Money Tips for 2024: Credit Scores, Subscriptions, & Claiming FREE Money
4 januari 2024 · 9 min
If you’re after the best money tips for 2024, we’ve got you covered! Every dollar counts when it comes to improving your finances, and our hosts are offering some invaluable end-of-year advice to help you do just that. Lees meer
In part one of this four-part series, Mindy and Kyle will help you prepare for 2024 with money reviews, money dates, and home improvement project planning. Of course, your credit score plays a key role in your financial journey, so we will show you how to keep an eye on it and view your latest credit report for free.
Do you have unnecessary subscriptions that eat away at your bank account balance each month? We have a tool that allows you to cancel them automatically. Finally, does someone OWE you money? You’ve got to try the secret hack we use to find and claim free money each year!
In This Episode We Cover
The end-of-year money review you MUST have in 2024
Why you NEED to plan regular money dates with your partner
Saving money when planning home improvement projects
The secret tool we use to cancel unwanted subscriptions (without doing a thing!)
Keeping your credit in check with free credit reports
How to claim the FREE money you’re owed (but didn’t know about!)
And So Much More!
Links from the Show
BiggerPockets Money Facebook Group
Network with Other Investors on The Path to FIRE Through the BiggerPockets Forums
Finance Review Guest Onboarding
Join BiggerPockets for FREE
Mindy on BiggerPockets
Listen to All Your Favorite BiggerPockets Podcasts in One Place
Apply to Be a Guest on The Money Show
Podcast Talent Search!
Money Moment
The Money Date: What You Should (And Definitely Should Not) Do to Align Your Finances as a Couple
All the Money Hacks We WISH We Had Known About
Check Your Credit Report for FREE:
FreeCreditReport.com
AnnualCreditReport.com
Get Expiring Debit Cards for Your Subscriptions with Privacy
Click here to check the full show notes: https://www.biggerpockets.com/blog/money-487
Interested in learning mor…
-
486: JL Collins: You Don’t Need to Be Rich to Reach Financial Independence
2 januari 2024 · 46 min
JL Collins is one of the most respected authors in the financial independence community. His book, The Simple Path to Wealth, became the FIRE movement bible, giving clear, concise, easy-to-follow, and often unbelievably simple advice on achieving financial independence and retiring early. One of the most striking lessons from the book? You DON’T need to be rich to retire early or build wealth. Whether you make $40K or $400K per year, you can start building your financial freedom TODAY. Lees meer
Since its publication, The Simple Path to Wealth has inspired millions of people to find financial freedom, and many who have achieved financial independence or are well on their way have been in contact with JL. In his new book “Pathfinders: Extraordinary Stories of People Like You on the Quest for Financial Independence?And How to Join Them,” JL shares stories of the rich, poor, and even bankrupt readers who were able to turn their lives around and find financial freedom, no matter their circumstance.
So, if you’ve been telling yourself that you CAN’T retire early because of a low paycheck, dire financial situation, or expensive lifestyle, think again. In this episode, JL will show you EXACTLY why YOU can be rich IF you follow some simple steps on the path to financial independence!
In This Episode We Cover
The simple, repeatable path to wealth that ANYONE can follow to become rich
How to achieve your huge retirement goals even when starting from zero
Why financial independence is NOT just for the rich and already wealthy
The lifestyle “trap” that will stop you from ever achieving FIRE
The problem with the 4% rule and why you CANNOT trust it for a happy retirement
How to build wealth when everything (and we mean EVERYTHING) goes wrong
And So Much More!
Links from the Show
BiggerPockets Money Facebook Group
Network with Other Investors on The Path to FIRE Through the BiggerPockets Forums
Finance Review Guest Onboarding
Join BiggerPockets for FREE
Mindy on BiggerPocke…
-
485: How to Start Thinking, Acting, and Investing Like the Rich
29 december 2023 · 39 min
Everyone wants to know how to get rich. And here’s the truth: getting rich might be much easier than you think. While most people would assume the wealthy grind their way to success, this isn’t always the case. In fact, rich people are FAR lazier than you think, and we’re not saying that in a bad way. Rich people make money while they sleep, so they don’t HAVE to work harder every day. Want to know how you can do the same? Vivian Tu, AKA “Your Rich BFF,” will show you how! Lees meer
Vivian grew up with super-saver immigrant parents who taught her the value of money. When she went off to college, she realized a whole new world of wealth existed—this was only multiplied when she became a Wall Street trader. Vivian saw the fancy suits, the designer bags, and the jewel-studded bracelets and realized that these “rich” people were doing something most people didn’t know about. After her friends and coworkers wouldn’t stop asking her for financial advice, she decided to take her knowledge to the masses.
In her new book, “Rich AF: The Winning Money Mindset That Will Change Your Life,” Vivian details what the rich do that you (probably) don’t. These habits of the wealthy can change your life and upgrade you from the position you’re in now. In today’s episode, we talk about the tools you can use to get rich, why you’re playing real-life Monopoly all wrong, and how rich people think to build wealth even when they’re not working.
In This Episode We Cover
Habits of the rich that most Americans have no idea about
Why you need to STOP saving money and start doing this instead
Financial literacy for all and how to start learning the money game even if you think it’s too late
Asking for raises, job hopping, and how to start getting paid what you deserve
The ONE place you should put your cash that could be making you extra money every month
And So Much More!
Links from the Show
BiggerPockets Money Facebook Group
Network with Other Investors on The Path to FIRE Through the BiggerPo…
-
484: The Late Starter’s Guide to Financial Independence (Even in Your 50s!) | ENCORE EPISODE
26 december 2023 · 47 min
Ho ho ho! We hope you had a holly, jolly, frugal, and festive holiday season. With the BiggerPockets elves off tinkering to make even greater shows for next year, we bring you one of our FAVORITE episodes for an encore! In this show, you'll hear about two VERY late starters who were able to reach retirement right on time! Lees meer
If you think it's too late to retire, think again!
______
Is early retirement possible if you’re dead broke in your 50s? What about regular retirement when you have anegative net worth later in life? If you feel it’s too late to retire, today’s guests are here to prove you wrong. After waking up at fifty with zero dollars to her name, Becky Heptig faced a dilemma—make a change or work for the rest of her days. So Becky and her husband, almost overnight, flipped their lifestyle around and started saving and investing everything they could. Now, she’s retired as a millionaire with complete financial flexibility.
Bill Yount wasn’t just worth zero dollars; he had a negative net worth at fifty. Even with a high-paying job, new cars, and a nice house, Bill was miles away from retirement but took the same path as Becky as he aggressively saved and started planning for retirement. Just a few years out from retirement, Bill has millions stashed away, a luxury lifestyle that his investments support, and a boat-sized amount of cash in his bank account.
If you think it’s TOO late to retire, you’re wrong. Becky and Bill prove in today’s episode that even if you’re starting late, with NOTHING to your name, retirement is only a decade (or a few years) away. You’ll hear EXACTLY how they retired early when starting from zero, the “wake-up call” late starters MUST have, and what you can do TODAY to get your retirement planning on track!
In This Episode We Cover
How to go from broke in your 50s to millionaire (or multimillionaire) in your 60s
Lifestyle creep and why a high income is dangerous for most Americans
How to reverse your “spend first, save last” m…
-
483: Lean FI in 6 Years, Fat FI in 10, and Quitting Your Job The FIRE Way
22 december 2023 · 46 min
At twenty-nine years old, Andy Johnson had achieved lean FIRE. He had enough to survive but not enough to make his future family comfortably financially free. All he needed to do was work a little longer, make a bit more money, and intensely invest. That plan went out the window when Andy woke up one day, unable to return to work. The high levels of stress and constant demand from clients got to him. He quit his high-paying job with no plan. Lees meer
Over the next year, Andy did something incredible. Even without a steady paycheck, he built a massive real estate portfolio in just ten months, bolstered his family’s investments, and now, a few years later, in his mid-thirties, hasachieved true financial independence. How did he do it in such a short amount of time WITHOUT a job? His method is one only the savviest of investors would have thought of.
In this episode, you’ll hear how Andy bought twenty-one rental properties in under a year, paid just $1,500 in taxes on a $200,000 gain, and was able to move to a more expensive area, retire part-time (by choice), and reach ultimate financial freedom. If you’re stressed at your job and looking for a way out while keeping your investments and bank account intact, this episode is for you!
In This Episode We Cover
Quitting your job with NO plan and how to ensure you always have the ability to walk away
How Andy bought over twenty rental units in just ten months
Avoiding capital gains tax and how to legally lower your taxes DRAMATICALLY
Using real estate leverage to get rich and the right way to analyze a rental property
Long-distance real estate investing and how to get connected to the best agents, property managers, and contractors in the area
The “part-time jobs” Andy is taking up in retirement (even though he doesn’t have to)
And So Much More!
Links from the Show
BiggerPockets Money Facebook Group
Network with Other Investors on The Path to FIRE Through the BiggerPockets Forums
Finance Review Guest Onboarding
Join …
-
482: How I Turned My Tiny Side Hustle into a Multi-Million Dollar Business
19 december 2023 · 44 min
How do you turn a TINY side hustle into a full-on income stream? Even more, how do you make your side hustle a multimillion-dollar business that employs dozens of people and gives you the financial freedom to do what YOU’RE passionate about? Today, we chat with Mari Llewelyn, founder of Bloom Nutrition, about her incredible journey of weight loss, financial literacy, starting a side hustle, and growing a HUGE business. Lees meer
Mari’s entrepreneurial journey started long before she decided to make supplements. One day, she woke up and realized she had hit rock bottom. She was the heaviest she had ever been, had no money to her name, zero autonomy, and close-to-no willpower to pick herself back up. After growing tired of relying on her parents for money in college, she decided to get a job at the front desk of a gym.
She was making money, and things were starting to improve, but there was one big hurdle left: the weight. In this episode, Mari talks about her incredible journey to losing ninety pounds, how she started selling five-dollar workout programsfor extra cash, and her explosive social media growth that allowed her to build a multimillion-dollar business before age thirty!
In This Episode We Cover
Building money skills after being raised in a household where finances are “taboo”
How to pick yourself up when you’ve hit “rock bottom” financially and emotionally
Turning your social media followers into loyal customers when you start a business
Starting tiny side hustles and the EASY way Mari made her first self-employed dollars
Paid ads, marketing your product, and the one thing that helped Mari’s business explode
Developing products and how to know you’ve made something that customers will love
And So Much More!
Links from the Show
BiggerPockets Money Facebook Group
Network with Other Investors on The Path to FIRE Through the BiggerPockets Forums
Finance Review Guest Onboarding
Join BiggerPockets for FREE
Mindy on BiggerPockets
Scott on BiggerPockets
L…
-
481: Building a $1 Million Net Worth in Only 3 Years by Investing in Real Estate
15 december 2023 · 51 min
Most people know that investing in real estate is one of the best ways to reach financial independence, but very few ever take action. Once today’s guest discovered the potential of real estate, however, it became his obsession. Despite starting out on a low military salary, he built a million-dollar net worth in just THREE YEARS! Lees meer
In this episode, we’re catching up with entrepreneur, investor, and repeat guest Jabbar Adesada. Since we last spoke with Jabbar, he has only doubled down on his real estate dream and journey to financial freedom—dabbling in several different investing strategies and teaming up with a partner to get more deals done. Today, Jabbar owns a slew of short-term rentals and long-term rentals, has completed several BRRRR projects (Buy, Rehab, Rent, Refinance, Repeat), and has more than a dozen construction projects in the works.
If you want to reach your FIRE goal as soon as possible, tune in to hear how Jabbar used real estate to expedite his journey. He shares how he was able to save up for a down payment with a low income, get his first home loan with almost no credit history, and rapidly increase his income!
In This Episode We Cover
Reaching financial independence by investing in real estate
How Jabbar built a million-dollar net worth in only THREE years
Combining multiple real estate investing strategies within your portfolio
How to choose the perfect real estate market to invest in
Finding a partner and building out your real estate network
And So Much More!
Links from the Show
BiggerPockets Money Facebook Group
Network with Other Investors on The Path to FIRE Through the BiggerPockets Forums
Finance Review Guest Onboarding
Join BiggerPockets for FREE
Mindy on BiggerPockets
Scott on BiggerPockets
Listen to All Your Favorite BiggerPockets Podcasts in One Place
Apply to Be a Guest on The Money Show
Podcast Talent Search!
Money Moment
Grab Your Copy of “First to a Million” by Dan Cheeks
20-Year-Old Minimum Wage Marine wit…
-
480: The Millionaire Fast-Track: How to Hit Financial Freedom Before 30
13 december 2023 · 48 min
This eighteen and twenty-two year old are on track to reach financial freedom by the age of thirty. And if you think that you can’t make big money moves because you don’t have the experience, resources, or income to build wealth, think again. These two young adults are on the path to making millions in their lifetime, and if you’re in your late teens or twenties or have children or grandchildren who are, THIS is the episode to watch. Lees meer
First, we talk to Gloria Stonelake, an eighteen-year-old who runs a social media marketing agency on track to bring in six figures in income a year. She’s still technically a high school student but spends almost all her time working on her business, learning leadership, and getting leads for her clients. She ditched the traditional route of getting a diploma, a degree, and THEN a job and skipped right to the money-making part. She has some incredible advice for ANYONE who wants to start their own business, no matter your age!
Next, Ben Carver joins us to talk about his high school house-flipping side hustle, how he became a real estate agent before getting his college degree, and the newest house hack he’s set to buy at just twenty-two years old! By thirty, both Ben and Gloria should be financially free, and if you want to hit FIRE in your 30s, 40s, 50s, or 60s, these wunderkinds are two to watch!
In This Episode We Cover
How to build a six-figure business, no matter your age or experience level
Why ditching the college degree may be a smart move for entrepreneurial teens and twenty-year-olds
Why your financial background does NOT determine whether or not you’ll hit FIRE
Entrepreneurial tips to take and challenges you must prepare for to succeed
How to live for free and start building a real estate portfolio EARLY in life
The one piece of advice Mindy and Scott wish they could give their younger selves
And So Much More!
Links from the Show
BiggerPockets Money Facebook Group
Network with Other Investors on The Path to FIRE…
-
479: How to Become a “Quiet” Millionaire and Avoid the Financial Guru Trap
12 december 2023 · 42 min
Don’t strive to become rich. Instead, become a “quiet” millionaire like Tae Kim, the “Financial Tortoise.” You’ve seen the flashy cars, fancy champagne, and private jets of the online financial “gurus.” Then, like clockwork, you see these same people lose their wealth, go bankrupt, or disappear from the online world entirely. What happened to them, and where did all the “riches” go? Lees meer
In today’s show, we talk to Tae about the slow, steady, unsexy way to build wealth and become a millionaire that most Americans will never understand. It’s far less risky than gambling your money away, day trading, or going high-leverage on risky real estate. Instead, you can sleep like a baby every night, knowing you have hundreds of thousands in the bank, millions in investments, and enough money to chase your dreams IF you follow Tae’s advice.
Tae’s path to wealth wasn’t complicated, but he did make a handful of money mistakes you won’t want to repeat. Afterpaying off over six figures in debt, Tae now serves as the financial hero we need but don’t deserve, teaching EVERYONE why the slow, quiet way to wealth is the smartest, most sustainable way to truly become “rich.” If you want to quit your job, do what you love, and live every day on YOUR schedule, stick around!
In This Episode We Cover
The “quiet” millionaire and why you want to be wealthy, NOT rich
Money mistakes that you should avoid at ALL costs when on the journey to financial independence
How much money you should have in the bank BEFORE you quit your job
Why so many financial “gurus” go broke within a few years of acquiring their wealth
How to define your “enough” so you don’t end up working your life away
Tae’s unbelievably simple investment advice for those just starting out
And So Much More!
Links from the Show
BiggerPockets Money Facebook Group
Network with Other Investors on The Path to FIRE Through the BiggerPockets Forums
Finance Review Guest Onboarding
Join BiggerPockets for FREE
Mindy on BiggerPocke…
-
478: Need Funds for Your Business? How to Get FREE Money Through Business Grants
8 december 2023 · 38 min
Are you sitting on an amazing business idea? Knowing how to get money to start a business is a critical first step to getting your concept off the ground. While there are all kinds of funding options, you may be able to get FREE moneywith a grant. That’s exactly what today’s guests did! Lees meer
Welcome back to the BiggerPockets Money podcast! Today, we’re chatting with Cheryl Edmundson and Erin Jacobsen from Inclusive GameWerks—a fledgling business that has developed an inclusive pinball controller for people with disabilities. After building the first prototype for a close friend, they realized the device’s incredible potential. So, they went right to work—fine-tuning the design, structuring their business, and, of course, looking for ways to fund their new venture. Before long, they had landed a ten-thousand-dollar grant to get their operation up and running!
If you’ve got an entrepreneurial spirit and a great business idea, this is an episode you won’t want to miss! Tune in as Cheryl and Erin show you how to launch a business alongside your nine-to-five job, find your lane in an established market, and get FREE money for your business!
In This Episode We Cover
How to get FREE money to start your new business
How to find, apply, and get approved for a business grant
Using grant money appropriately within a for-profit business
The best ways to structure your new business
Building a business without leaving your nine-to-five
Driving your business forward through the power of networking
And So Much More!
Links from the Show
BiggerPockets Money Facebook Group
Network with Other Investors on The Path to FIRE Through the BiggerPockets Forums
Finance Review Guest Onboarding
Join BiggerPockets for FREE
Mindy on BiggerPockets
Listen to All Your Favorite BiggerPockets Podcasts in One Place
Apply to Be a Guest on The Money Show
Podcast Talent Search!
Money Moment
Building a Massively Profitable Business Around Your Passions
Click here to check the full show no…
-
477: Year-End Tax Planning Tips You NEED to Know Before the 2024 Tax Season
6 december 2023 · 41 min
With 2024 right around the corner, it’s time for a final year-end tax planning push! There are all kinds of ways to pay less to the IRS, and today’s guest is here to help you save as much money as possible! Lees meer
Welcome back to the BiggerPockets Money podcast! Today, we’re joined by certified public accountant and financial planner Sean Mullaney. In this episode, Sean delivers a thorough breakdown of everything you should be doing to lower your tax burden for not only 2023 but also over your entire lifetime. While there are many moves you can make before this year’s filing deadline, you don’t have to make them all at once. Sean shares how most tax moves fall into one of three “buckets”—moves that should be handled urgently, by year-end, or in early 2024.
Whether you’re rushing to tie up loose ends in 2023 or looking to maximize retirement savings, Sean offers a variety of helpful tax tips for those in different phases of life. You’ll learn how to reap the tax benefits of donor-advised funds, how to time a Roth conversion, and how to avoid giving the IRS a large interest-free loan!
In This Episode We Cover
Tax moves to make immediately, by year-end, and in early 2024
New tax-saving strategies to start implementing next year
Lowering your total lifetime tax burden with the Roth conversion strategy
How to get a tax deduction and avoid capital gains tax with a donor-advised fund
The BEST retirement accounts for entrepreneurs and self-employed individuals
How to choose the perfect health insurance plan for you in 2024
And So Much More!
DISCLAIMER: "The discussion is intended to be for general educational purposes and is not tax, legal, or investment advice for any individual. Scott, Mindy, BiggerPockets, and the BiggerPockets Money podcast do not endorse Sean Mullaney, Mullaney Financial & Tax, Inc. and their services."
Links from the Show
BiggerPockets Money Facebook Group
Network with Other Investors on the BiggerPockets Forums
Finance Review Guest Onboardin…
-
476: The Real-Life Girlboss: How I Built Nasty Gal to a $100M Business
5 december 2023 · 44 min
Nasty Gal went from an eBay side hustle to a business doing $100M in sales in under a decade. Behind it was the most famous “Girlboss” in America, Sophia Amoruso. She had no business experience, management training, leadership coaching, background in logistics, business financials, or running an online shop. Somehow, she built a business to heights few entrepreneurs ever reach, owning an extremely profitable clothing empire and finding herself on the cover of Forbes. But then, Nasty Gal went bankrupt. What happened? Lees meer
Sophia joins us on the show today to explain it all. She’ll share her full financial story, which included watching her parents go bankrupt, eventually selling her business, and seeing it suffer the same fate. From entrepreneurial mistakesto risks Sophia took that led her to massive financial success, Sophia has seen both success and failure, and she has priceless insight to offer any aspiring entrepreneur or investor.
If you want to build a business, invest in one, or start a profitable side hustle, Sophia can help. She’ll also uncover what led to Nasty Gal’s downfall, the pressure “Girlboss” put on her, and why growing too fast can kill your financial future.
In This Episode We Cover
How Sophia turned a thrifting side hustle into a nine-figure business
Hiring your first employee and why you DON’T want to over-scale your side hustle
Venture capital, investing in businesses, and when you should give up equity
Going bankrupt and rebuilding yourself after a financial failure
What Sophia is investing in NOW that’s helping her build even greater wealth
Advice for new entrepreneurs and anyone who wants to sell online
And So Much More!
Links from the Show
BiggerPockets Money Facebook Group
Network with Other Investors on The Path to FIRE Through the BiggerPockets Forums
Finance Review Guest Onboarding
Join BiggerPockets for FREE
Mindy on BiggerPockets
Scott on BiggerPockets
Listen to All Your Favorite BiggerPockets Podcasts in One Place
App…
-
475: How to Get Rich Without Investing in Real Estate
1 december 2023 · 36 min
You want to know how to get rich. But you probably don’t want to deal with the tenants, toilets, trash, and constant headaches of investing in real estate. And even as the world’s biggest resource for real estate investors, we get it. The landlord lifestyle isn’t for everyone. Thankfully, real estate isn’t the ONLY way to get rich. There are five other time-tested ways to build wealth that don’t involve 2 A.M. tenant phone calls. Lees meer
In today’s show, Mindy and Scott tag team the five best ways to build wealth without ever buying a rental property.These methods work for almost anyone, no matter how much (or how little) money you make or have in the bank. Some of these methods are more passive than others, requiring just minutes a month to start building wealth, while others can explode your income but require much more time.
But we’re not just giving you some experimental investment methods to try. Both Mindy and Scott have used most, if not all, of these methods to become rich themselves, and if you incorporate ANY of these methods into your life in 2024, there’s a good chance by this time next year, you could be way wealthier!
In This Episode We Cover
The five ways to get rich WITHOUT investing in real estate
The four “levers” of wealth you can pull to level up your financial lifestyle
“Boring” businesses and HUGE investment opportunities for those in their 20s, 30s, or 40s
Job hopping and why you could be underpaid and overworked at your current role
The investment accounts that can expedite your path to becoming a millionaire
The super passive investment anyone can use to build massive wealth in the background
And So Much More!
Links from the Show
BiggerPockets Money Facebook Group
Network with Other Investors on The Path to FIRE Through the BiggerPockets Forums
Finance Review Guest Onboarding
Join BiggerPockets for FREE
Mindy on BiggerPockets
Scott on BiggerPockets
Listen to All Your Favorite BiggerPockets Podcasts in One Place
Apply to Be a Gues…
-
474: Mindy and Scott's Favorite Sleepaway Camp for FIRE Chasers
29 november 2023 · 33 min
Deep in the forest, a secret financial independence summer camp is being held. Multiple times a year, all across the country, millionaires, financial freedom achievers, and those still on or just starting their FIRE journey meet up for a weekend like no other. Those who have achieved FIRE in their 30s, 40s, and 50s give advice, tips, and tactics to those who want to leave their jobs behind and see what a life of financial freedom feels like. It’s such a can’t-miss event that Mindy and Scott are regulars there too! Lees meer
Of course, we’re talking about CampFI, where you can roast marshmallows, talk about Roths, scheme with other investors on the best way to make millions, or simply meet the financial independence heroes you’ve only seen online. Throughout the year, these camps are held in every corner of the country, and today, you’ll get to hear exactly what happens around the campFIre.
For that, we brought on CampFI founder Stephen Baughier to tell us more about this exclusive financial independence experience and his own journey to FI. After a tough wake-up call in his mid-30s, Stephen made it his goal to reach financial freedom, but not on the fast-paced schedule most FIRE chasers think of. Hear how Stephen was able to downsize his life, cut his spending, and have ultimate time freedom without having to work his tail off!
In This Episode We Cover
The one thing that made Stephen reevaluate his financial decisions in life
Downsizing, cutting spending, and how to reach financial freedom faster
Advice from millionaires and those who’ve already achieved FIRE
CampFI costs, activities, events, and why you MUST attend
Why you can (and SHOULD) slow down your path to FIRE
Scott’s accidental run-in with a fireside cult-like chanting circle
And So Much More!
Links from the Show
BiggerPockets Money Facebook Group
Network with Other Investors on The Path to FIRE Through the BiggerPockets Forums
Finance Review Guest Onboarding
Join BiggerPockets for FREE
Mindy on Bigg…
-
473: Holiday Shopping Hacks That’ll Save You Hundreds (or Thousands) This Season
28 november 2023 · 31 min
The 2023 holiday shopping season is here, and you know what that means…gifts, trips, and LOTS of spending. If you love the holiday season but are more into frugal festivities, we have just the episode for you. Whether you're a budget-conscious stocking stuffer or a buy-everyone-an-iPhone gift giver, we've got some simple tips that'll help you save hundreds or thousands this holiday season. Lees meer
To help us build out our list of holiday hacks, we brought on Chris Hutchins from the All the Hacks podcast to give us his best tips for staying on budget this holiday season. From saving hundreds of dollars per person per flight to crazy cash-back browser extensions, how to buy fewer gifts while making everyone happy, and the best board game ever, Chris shares his favorite ways to spend less during the season and his listeners' favorite frugal gifts.
Even if you're not much of a holly, jolly, merry type of person, Chris drops some incredible cost-saving knowledge YOU can use at ANY time of the year to keep thousands of more dollars in your pocket!
In This Episode We Cover
How to save hundreds of dollars on your holiday flights with this one timing hack
Why fewer gifts can lead to happier holidays (and how to convince your family of it)
Crazy cash-back opportunities and sites that'll reward you for gift-giving
How to save 30%-40% on home renovations and repairs using this one coupon website
The gifts you can and should buy used (NO ONE will notice)
Chris' 2023 holiday gift guide for the frugal gift giver
And So Much More!
Links from the Show
BiggerPockets Money Facebook Group
BiggerPockets Forums
Finance Review Guest Onboarding
Join BiggerPockets for FREE
Mindy on BiggerPockets
Listen to All Your Favorite BiggerPockets Podcasts in One Place
Apply to Be a Guest on The Money Show
Podcast Talent Search!
Money Moment
All The Hacks Podcast
Give the Gift of Wealth-Building Knowledge with BiggerPockets' Books
All the Money Hacks We WISH We Had Known About
Cashbac…
-
472: All the Money Hacks We WISH We Had Known About (ENCORE Episode!)
24 november 2023 · 53 min
Happy Thanksgiving! This Turkey Day, we're giving you an encore of one of our favorite episodes on the money hacks EVERYONE should know about! This was one of our top shows of last year and will teach you how to save better, spend less, and travel for CHEAP! Enjoy! Lees meer
______
Travel hacks, spending hacks, medical hacks. If there’s one thing that Chris Hutchins has learned from hosting the All the Hacks podcast, it’s that everything is negotiable. You can travel to over sixty countries for (almost) free, outsource your cooking at a reasonable rate and even get free money once forgotten. Chris should know—he’s done all this and more as he works to optimize every aspect of his life, both financially and personally!
Chris was hacking at a very young age. In high school, he made a fake magazine so he could score free press passes to concerts. When he was away at boarding school, he would buy whole pizzas and sell them by the slice just to afford a few slices of his own. Then, later when he quit his job to travel the world, Chris and his partner hit over sixty countries, using credit card points to globetrott from South Africa to Singapore!
Now, as a father, Chris is more concerned about hacking his time. He’s got kids to take care of and doesn’t want to waste a second of his day that could be spent planning for, or playing with, his children. In today’s episode, you’ll hear some of the most insane life hacks, from hiring a personal chef for a fraction of the cost to getting free champagne at any hotel stay and even snagging twenty to thirty percent off of your dream vacation villa. These hacks work (we tried them in real-time), and you may need a pen and paper to write them all down!
In This Episode We Cover
Credit card points, travel hacking, and how to get flights for free (or at a steep discount)
Outsourcing and delegating everything so you spend more of your time with those who are most important
Simple principles for an optimized life and why conventional wisdo…
-
471: The Secret to Saving More, Spending Less, and a Perfect Credit Score
21 november 2023 · 42 min
Building wealth, saving money, getting rich—it’s much more straightforward than most people think. You don’t need to be a financial expert or millionaire to know what you should do with your money. But if you’ve found yourself in a spot where saving and investing just isn’t happening or you want to build wealth but don’t know where to start, we’ve got the perfect guest for you! Lees meer
Tiffany Aliche, AKA “The Budgetnista,” is on track to help more than 300,000 people start their journey to financial freedom with her Live Richer Challenge, following the same steps she took to get out of over $30,000 in credit card debt, fix her trashed credit score, and save and invest her way to serious wealth. In today’s show, Tiffany will talk about the ten steps you can take to go from money mayhem to net worth nirvana so you can build generational wealth, achieve financial freedom, and leave a legacy for your family.
If you liked today’s episode, grab a copy of Tiffany’s Made Whole financial workbook that’ll help you get good with money no matter where you’re starting!
In This Episode We Cover
The ten steps that’ll take you from broke to building a financial legacy
Why you’re budgeting all wrong and the right way to make sure you’re not overspending
The EASIEST way to save money every month that will grow your bank account without you even noticing it
The different methods to get out of debt and which one makes most the sense for your situation
How to take your credit score from the 500s to the 800s with some super simple hacks
The one thing you can do right now to start building your retirement nest egg
And So Much More!
Links from the Show
BiggerPockets Money Facebook Group
BiggerPockets Forums
Finance Review Guest Onboarding
Join BiggerPockets for FREE
Mindy on BiggerPockets
Listen to All Your Favorite BiggerPockets Podcasts in One Place
Apply to Be a Guest on The Money Show
Podcast Talent Search!
Money Moment
From Financially Perfect to Rock Bottom (and Back A…
-
470: Make an Extra $100/Day with These Work-From-Home Side Hustles
17 november 2023 · 37 min
Want to know how to make $100 a day the easy way? We’ve got the queen of side hustles, Jackie Mitchell, on the show to share the most legit, low-effort, flexible side hustles you can try today to start making money tomorrow. Jackie challenged herself to make $100 per day for the next 100 days as she and her husband work to save up a down paymentfor their first house. She’s documented her entire journey on social media to show the side hustles that are (and aren’t) worth the work. Lees meer
From study groups to surveys, meal-prepping for others, training AI chatbots, and playing piano at events, Jackie has tried dozens of different side hustles so you don’t have to. In today’s show, she shares the best side hustles where you can make up to thirty dollars an hour working entirely from home, the side hustles that trick you into thinking you’re making more money, and how you could start making THOUSANDS more a month while working a few hours extra every day.
If you’re trying to save up for a down payment like Jackie, ditch some debt, or want a little extra in the bank, these side hustles could be your first step toward financial freedom. Stick around because Jackie will tell you which side hustles could boost your bank account!
In This Episode We Cover
How to make an extra $100 per day with simple side hustles that DON’T require experience
The one side hustle Jackie comes back to that offers consistent work and high pay
Which side hustles are NOT worth the money and take FAR longer than you think
Taxes, 1099s, and how to keep track of your income and expenses when making extra money
“Body mirroring” and how Jackie stays super efficient when doing side work
And So Much More!
Links from the Show
BiggerPockets Money Facebook Group
BiggerPockets Forums
Finance Review Guest Onboarding
Join BiggerPockets for FREE
Scott's Instagram
Mindy on BiggerPockets
Grab Scott’s Book, “Set for Life”
Listen to All Your Favorite BiggerPockets Podcasts in One Place
Apply to Be a Gu…
-
469: David Greene’s 3 Steps to Building Wealth EVEN in a Bad Economy
15 november 2023 · 30 min
Building wealth is about to become more challenging than ever before. High interest rates make many rental properties cash-flow-less, the economy could enter a recession, and many investors could lose their shirts. In times of extreme economic uncertainty, only the financially fit will be able to keep, protect, and build wealth. So, in today’s episode, we’re giving you the steps you need to not only survive but thrive in ANY economy. Lees meer
Who are these steps coming from? David Greene, the waiter turned multi-million dollar property investor who is not only the industry’s leader in real estate investing but one of the most financially savvy people on the planet. When the gurus go left, David goes right, which is how he’s been able to hold on to his wealth EVEN during economic turbulence.
Today, David will go over the Pillars of Wealth (also the name of his new book) that you must start building NOW if you want your wealth to last. David even gives some rare commentary on the MOST critical thing you can do to reach financial freedom faster and make more money (hint: it’s not investing in real estate).
In This Episode We Cover
The three unignorable pillars of wealth that will make you rich
BIG shifts in the economy and what happens when this game of “musical chairs” comes to an end
When to NOT invest in real estate and whether or not 2024 is FAR riskier than before
The EASIEST way to boost your bank account WITHOUT making more money
What to do TODAY to ensure you keep your job, get raises, and grow your income
And So Much More!
Links from the Show
BiggerPockets Money Facebook Group
BiggerPockets Forums
Finance Review Guest Onboarding
Join BiggerPockets for FREE
Scott's Instagram
Mindy on BiggerPockets
Grab Scott’s Book, “Set for Life”
Listen to All Your Favorite BiggerPockets Podcasts in One Place
Apply to Be a Guest on The Money Show
Podcast Talent Search!
Money Moment
Pick Up “Pillars of Wealth” and Other Best-Selling David Greene Books
Hear David …
-
468: ‘Bar Rescue’ Host Jon Taffer on the “Secret Recipe” for a Successful Business
13 november 2023 · 35 min
Bar Rescue host Jon Taffer has spent more than a decade finding the most disgusting, poorly-run, money-hemorrhaging bars in America and turning debt-ridden dumps into successful money-making businesses. How does he do it? In today’s show, this hospitality, restaurant, and bar legend will uncover the ONLY reason why businesses fail and the “secret recipe” for a successful entrepreneur. Lees meer
And even if you don’t own a business or don’t plan on owning one, Jon drops some knowledge that cannot be missed and could turn WHATEVER you’re struggling with in life into a smooth path to success. Jon talks about the over two hundred bars and businesses he’s saved, the biggest mistake the owners are making, and how to get out of business debt if your business is in WAY too deep.
Lastly, Jon talks about what makes a successful entrepreneur and gives his most crucial advice for those who are about to launch or have plans to launch a business. Trust us, Jon’s advice could save your entire business!
In This Episode We Cover
The number one reason why businesses fail and what their owners should do NOW
Taking responsibility and why your excuses are STOPPING you from achieving your dreams
How Jon and the Bar Rescue team complete bar renovations in just thirty-six hours (seriously!)
Screaming, yelling, crying, and how Jon breaks through to failing business owners
The “secret recipe” for a successful entrepreneur and Jon’s biggest piece of advice in 2024
And So Much More!
Links from the Show
BiggerPockets Money Facebook Group
BiggerPockets Forums
Finance Review Guest Onboarding
Join BiggerPockets for FREE
Mindy on BiggerPockets
Listen to All Your Favorite BiggerPockets Podcasts in One Place
Apply to Be a Guest on The Money Show
Podcast Talent Search!
Money Moment
The Main Reason Most Businesses Fail and How to Avoid It
Grab Jon’s Books
Click here to check the full show notes: https://www.biggerpockets.com/blog/money-468
Interested in learning more about today's sponsor…
-
467: Switching Jobs, Becoming a Landlord, and Investing vs. Paying Off Debt
10 november 2023 · 34 min
Switching jobs is a HUGE career decision that impacts not only your finances but also your schedule, quality of life, and more. When is changing jobs the right move, and what are the different factors at play? Today, our hosts will show you what to do when faced with such a big decision! Lees meer
Welcome back to the BiggerPockets Money podcast! In this episode, Mindy and Kyle are fielding some of your top questions. In addition to changing jobs, they discuss 401(k) investing strategies—including how to handle accounts from previous employers and how to set up your own solo 401(k)! They also talk about what to expect as a first-time landlord and all of the different tax benefits and liabilities that come along with the job. Plus, what you should do if your tax professional makes a dreaded error.
Finally, they offer some timely investing advice that will help you navigate the current economic climate. Amidst inflation and high mortgage rates, should you invest in the stock market, pay off your debts, or go another route entirely? Stay tuned to find out!
If you want Mindy and Kyle to answer a money question, you can submit a question here or post it in the Money Facebook Group!
In This Episode We Cover
Leaving your job for a higher-paying one (and when it’s best to stay put!)
How to handle your old 401(k) accounts and set up a solo 401(k)
Tax benefits and liabilities you MUST know as a first-time landlord
What to do when your tax professional makes a COSTLY error
Investing in the stock market versus paying off debt (and how to get the best rate of return)
And So Much More!
Links from the Show
BiggerPockets Money Facebook Group
BiggerPockets Forums
Finance Review Guest Onboarding
Join BiggerPockets for FREE
Mindy on BiggerPockets
Listen to All Your Favorite BiggerPockets Podcasts in One Place
Apply to Be a Guest on The Money Show
Podcast Talent Search!
Money Moment
What to Do Before You Quit the High-Pay & Benefits of Corporate World
Finance Friday: I Want…
-
466: The Retirement Planning Roadmap: 401(k)s, Real Estate, Bonds & More
6 november 2023 · 41 min
If you haven’t started your retirement planning yet, you’re not out of luck. Whether you’re in your twenties, thirties, forties, fifties, or sixties, there’s still time to get enough into your accounts so you can walk away from work and live life on your schedule. So, even if you’re starting late, fret not because today, we’ll walk through everything you need to know to get your retirement planning in gear! To help, The Motley Fool’s Robert Brokamp is joining us on the show! Lees meer
Robert, like many of us, started looking into investing when he was too broke to afford what he needed. Afterresearching index funds, compound interest, and basic investing, Robert thought, “Why isn’t everyone taught this?” This question inevitably led him to become a CFP (certified financial planner), join The Motley Fool, run the popular “Rule Your Retirement” service, and contribute to the Motley Fool Money podcast.
Robert has been helping people reach their retirement goals for decades, and today, he’s here to help you do the same. This money masterclass will go through all aspects of retirement planning, from 401(k) contributions to individual stock vs. index fund investing, when annuities and bonds make sense for your portfolio, the future of social security, and why you may want to start spending MORE money before you retire.
In This Episode We Cover
Retirement planning 101 and how to get on track even if you haven’t started investing
The good, bad, and ugly 401(k)s and how to know which one YOUR company has
Individual stock investing vs. index funds for a faster-growing retirement portfolio
Inflation-adjusted investments, annuities, and when buying bonds makes sense
The BIGGEST regret retirees have once they’re able to leave work
The EXACT portfolio Mindy and Scott would build for an ample retirement
And So Much More!
Links from the Show
BiggerPockets Money Facebook Group
BiggerPockets Forums
Finance Review Guest Onboarding
Join BiggerPockets for FREE
Scott's Instagram
…
-
465: Finance Friday: Should I Double Down on Real Estate or Start a Side Hustle?
3 november 2023 · 45 min
When people hear the term “passive income,” their minds usually flash to real estate investing. But, taking on real estate debt may not be the best option for you—especially if you have a high-risk financial portfolio. Instead, you might be better off starting a side hustle that brings in extra dough without huge startup costs or a massive time commitment! Lees meer
Kayla is a healthcare sales professional who has just bought her first property—a beautiful townhouse that she plans to house hack with a couple of friends. Although she was able to get a loan with a low interest rate from a private lender, there are several risks involved that keep Kayla awake at night. With a hard deadline to refinance the mortgage in five years and a potential recession looming, Kayla must reassess her five-year plan and determine the most viable path to financial freedom. Fortunately, Scott and Mindy are here to help her out!
If you’re feeling a little uneasy about 2024’s recession risk, you won’t want to miss out on the many nuggets of wisdom shared in this episode. You’ll learn the best ways to offset a high-risk portfolio, the importance of building your cash position in case of emergency, and how to supplement your W2 salary with REAL passive income!
In This Episode We Cover
How to offset high levels of risk in your financial portfolio
Supplementing your W2 earnings with passive income opportunities
Side hustle ideas you can start with a few hundred dollars (or less!)
How to get a low-interest mortgage in today’s housing market
Subsidizing your mortgage payment by house hacking
The emergency fund you NEED on hand for a worst-case scenario
And So Much More!
Links from the Show
BiggerPockets Money Facebook Group
BiggerPockets Forums
Finance Review Guest Onboarding
Join BiggerPockets for FREE
Scott's Instagram
Mindy on BiggerPockets
Grab Scott’s Book, “Set for Life”
Listen to All Your Favorite BiggerPockets Podcasts in One Place
Apply to Be a Guest on The Money Show
Podc…
-
464: How HGTV’s Heather Rae and Tarek El Moussa Flipped Over 1,000 Houses
1 november 2023 · 40 min
HGTV’s Heather and Tarek El Moussa have built an empire that any entrepreneur would be jealous of. They’ve collectively flipped over a thousand homes, started syndications with tens of millions of dollars invested, have a TV show that rakes in money for them to flip more houses, AND they do it all while raising a family. And while they’ve created the life they’ve always dreamed of, some unintended side effects have recently emerged that make things less-than-glamorous. Lees meer
We’ll touch on the recent “drama” in today’s episode, but before we do, Heather and Tarek break down precisely what they did to build the business they own today. And if you’ve ever thought of flipping houses before, Tarek gives invaluable advice on finding deals, hiring (and firing) contractors, why he’s spending more money than EVER before on renovations, and how you too can build a multi-million dollar house flipping business.
But that’s not all. After a recent slew of negative press, Tarek finally breaks the silence on a recent deal gone wrong and gives the story none of the news outlets would share on how he’s handling a barrage of tenant complaints, online harassment, and even death threats.
In This Episode We Cover
How the El Moussas flipped over one THOUSAND homes across California
Finding house flipping deals and how to see the “potential” in a hideous home
Wholesaling real estate and why Tarek was forced to stop flipping
Why Tarek sees “rough times” ahead and how YOU must pivot if you invest
On-air “drama,” how much of it is real and raw, and the effects it has on Heather and Tarek
Tarek’s recent deal gone wrong and how he’s doing everything he can to make it right
And So Much More!
Links from the Show
BiggerPockets Money Facebook Group
BiggerPockets Forums
Finance Review Guest Onboarding
Join BiggerPockets for FREE
Scott's Instagram
Grab Scott’s Book, “Set for Life”
Listen to All Your Favorite BiggerPockets Podcasts in One Place
Apply to Be a Guest on The Money Show
Pod…
-
463: How to Teach Your Kids About Money (Saving, Investing, Spending, and FIRE)
30 oktober 2023 · 42 min
Teaching your kids about money is one of the most CRUCIAL parts of parenting. So why do so many Americans completely neglect financial literacy for kids? Is it too awkward of a subject? Do parents feel like they don’t even grasp personal finances themselves? What happens if YOUR kid goes into the world with zero money mastery? If you have children, grandchildren, nieces, nephews, or loved ones with kids, THIS is what you MUST teach them. Lees meer
Instead of Mindy and Scott telling you what they taught their kids, Katie Trautman comes on the show to share what her FIRE father taught her about money. You may recognize Katie’s name; her father, Mark, was on the show just a few months ago. Mark was able to retire at age fifty, get Katie through college debt-free, and travel to his heart’s desire. He taught Katie some crucial personal finance lessons many of us never learned.
From saving to spending, investing, retirement accounts, and more, Katie goes through some of the top lessons her father taught her about finances before she left the house. Katie is about to start her first full-time job, and with a healthy emergency reserve, full retirement accounts, and the right money mindset, she’ll show you how she plans to retire earlier than her father even though she JUST started working.
In This Episode We Cover
Financial lessons you MUST teach your children before it’s too late
How to fund your child’s college through tax-advantaged investing accounts
Allowances and how to entice your child to save more than they spend
The “20%” rule that Katie has ALWAYS followed to set herself up for financial success
Why your kids SHOULD know how much money you make, save, and spend
The one thing Katie wishes she could change about growing up in a FI family
And So Much More!
Links from the Show
BiggerPockets Money Facebook Group
BiggerPockets Forums
Finance Review Guest Onboarding
Join BiggerPockets for FREE
Scott's Instagram
Mindy on BiggerPockets
Grab Scott’s Book, “Set for…
-
462: Finance Friday: Could a Franchise Fuel My FIRE in 10 Years (Or Less)?
27 oktober 2023 · 1 uur 1 min
Want to reach FIRE long before you’re sixty-five? If you make a decent income, invest diligently, and watch your spending, you STILL could fall into the “trap” most FIRE-chasers find themselves in. By making one BIG mistake, you could be accidentally forcing yourself to work for years or decades longer to finally retire, even if you’ve reached your FIRE number! What “trap” are we referring to, and how do you ensure you’ll hit FIRE on your schedule? Stick around to find out! Lees meer
Today, we talk to Chris, who works in medical sales and makes an income anyone would be happy to have. He lives in a high-cost-of-living area with a million-dollar home, expensive property and state taxes, and high expenses. But he still saves a solid amount of income every month. What’s he doing with his extra cash? Investing in index funds, generously donating, and…saving to buy into a franchise?
This franchise investment could make Chris millions, but there are a few red flags that Mindy and Scott can’t ignore. With a substantial initial investment and a partnership that could be tested at any point, Chris wants to know the best place to deploy his ample capital. Does he go head-first into the franchise, stick with index funds, or build robust retirement accounts? And with a FIRE timeline of ten years or less, how does he ensure he'll have enough money to support his lifestyle?
In This Episode We Cover
The common FIRE “trap” that could force you to work for far longer at your job
Investing in retirement vs. after-tax brokerage accounts and which to focus on for FIRE
How to access retirement funds even earlier if you decide to retire early
Investing in a franchise and what you MUST know before you put your money into one
The perfect FIRE portfolio and how to allocate your investments to support your early retirement lifestyle
Building/buying your forever home and when to put it off to invest
And So Much More!
Links from the Show
BiggerPockets Money Facebook Group
BiggerPockets For…
-
461: How to Pull Yourself Out of Car, Student, or Credit Card Debt
23 oktober 2023 · 41 min
You want to retire, but you’ve got credit debt, auto loans, and student loans. It feels like every time you get your paycheck, it quickly slips away, and at the end of every month, you’re left in the same position, or worse, than thirty days prior. What’s happening, and why is it SO hard to get out of debt? And will you EVER be able to retire if you keep living this way? Lees meer
Seth Godwin was fired from his job while holding $30,000 in credit card debt. He had no way to pay it off, but somehow, over the next two years, he was able to become debt-free, increase his credit score by hundreds of points, and become one of the internet’s leading financial influencers. After crawling out of debt, Seth began working at a financial institution, looking at car loans, realizing how many people, like him, had been scammed into throwing tens of thousands of dollars away.
Now, on the other side of the financial spectrum, Seth is financially flourishing with a steady stream of income, stable investments, and twenty-seven (!) credit cards—but he’s still debt-free! In this episode, Seth will show you EXACTLY how car salespeople are scamming you, how to escape credit card debt confidently, what to do now that student loans are resuming, and why you SHOULDN’T trade in your old car.
In This Episode We Cover
The common auto loan scams that trick you into spending FAR more than you should
Why you should NEVER trade in a “negative equity” car to upgrade
The best car makes to buy (and two that rarely break down)
How to crawl yourself out of credit card debt and come out with a 700/800 credit score
How much money Seth makes on TikTok every month (it’s WILD!)
Student loan resumption and whether college is worth the increase in salary
And So Much More!
Links from the Show
BiggerPockets Money Facebook Group
BiggerPockets Forums
Finance Review Guest Onboarding
Join BiggerPockets for FREE
Scott's Instagram
Mindy on BiggerPockets
Grab Scott’s Book, “Set for Life”
Listen to All Your …
-
460: The Fast Road to FIRE and Our Housing Market Crash Predictions | Ask Mindy and Scott
20 oktober 2023 · 35 min
Will the housing market crash? If you’re like most Americans, the economy is starting to feel a bit unsettling. But, with so many homeowners locked into low mortgage rates or owning their homes outright, is there even a possibility of a housing crash, regardless of whether a recession does happen? The answer isn’t as straightforward as most people think, and if you don’t know the facts, you could get caught off guard. Lees meer
Mindy and Scott are back to answer YOUR money questions. This time, we’re taking questions from our Facebook Group, and MANY have to do with mortgage rates, home sales, and a potential crash. First, we answer what could cause a housing market crash in the near future. Then, a listener asks whether or not they should sell their home to pay off credit card debt. An investor wants to know if paying off their mortgage early beats the stock market, and a divorcee seeks to sell her home because of “bad juju.” The problem? She’s got a killer mortgage rate. Finally, we’ll debate stocks vs. real estate as the best path to FIRE!
Got a money question you want to ask Mindy and Scott? Head over to the BiggerPockets Money Facebook group, or click here to submit your question on our next Q&A episode!
In This Episode We Cover
Could the housing market crash? And if so, which areas will be most affected?
Crazy credit card debt and whether selling your home is worth being debt-free
Should you stay in a house you hate just because you have a low rate?
When leaving your business to go back to a W2 makes sense
Paying off your mortgage early vs. investing in stocks when rates are sky-high
The fastest path to financial freedom and whether stocks vs. real estate gets you there sooner
And So Much More!
Links from the Show
BiggerPockets Money Facebook Group
BiggerPockets Forums
Finance Review Guest Onboarding
Join BiggerPockets for FREE
Scott's Instagram
Mindy on BiggerPockets
Grab Scott’s Book, “Set for Life”
Listen to All Your Favorite BiggerPockets Podcast…
-
459: Divorce Season: How to Protect Your Financial Future During Separation
16 oktober 2023 · 46 min
Marriage and money are known for mixing like oil and water, but a little financial knowledge will allow you to navigate these sensitive issues with confidence. Today’s guest is an expert on this front and is here to equip you with some future-saving finance tips! Lees meer
Welcome back to the BiggerPockets Money podcast! In this episode, we’re joined by Tracy Coenen, a forensic accountant who specializes in unearthing money shenanigans in marriages. On most days, Tracy works closely with spouses who suspect financial infidelity or that their partner is making financial arrangements in preparation for a divorce. This is a vulnerable position for any partner to be in, but with Tracy in their corner, they can better handle their finances and weather the storm.
Whether you’re single, preparing for marriage, or filing for divorce, this episode is loaded with all kinds of personal finance tips that will help you protect your financial future. Tracy shares why it’s critical for all couples to draft up prenuptial agreements before getting married, the biggest warning signs of financial infidelity in a partner, and when you might need to hire a forensic accountant to assist with your marital money problems. Stay tuned until the very end to hear about some of the wildest cases Tracy has worked on over the years!
In This Episode We Cover
Common marriage and money-related stressors that contribute to divorce
When to hire a forensic accountant for your marital money issues
The biggest warning signs of financial infidelity or divorce planning
Why you and your partner NEED a prenuptial agreement before getting married
Keeping legal costs under control during the divorce process
How a couple’s finances and assets are typically divided in a divorce
And So Much More!
Links from the Show
BiggerPockets Money Facebook Group
BiggerPockets Forums
Finance Review Guest Onboarding
Join BiggerPockets for FREE
Scott's Instagram
Mindy on BiggerPockets
Grab Scott’s Book, “Set for Life”
…