BiggerPockets Money Podcast

Financial fear is… a good thing!? Fear is an uncomfortable feeling we often try to ignore or suppress. But what if, like other emotions, it exists for a specific purpose? What if following it could help you avoid deathly decisions? Today’s guest is here to set the record straight on this very basic yet misunderstood human emotion we call fear. Welcome back to the BiggerPockets Money podcast! In this episode, we’re speaking with leading personal finance expert and host of the So Money podcast, Farnoosh Torabi. Ahead of the release of her new book, A Healthy State of Panic, we discuss the emotion at its center—one that is so often intertwined with money: fear. There are all kinds of financial fears that cripple people today—the fear of a stock market crash, of losing their job in a recession, or of running out of money in retirement. Farnoosh is here to tell you that fear isn’t a bad thing. In fact, it’s often the catalyst for a brighter financial future. If you struggle with a particular money-related fear, guess what? You’re in good company! We all deal with fear on some level—especially when our finances are involved. Tune in to hear Farnoosh talk about the nine most common“flavors” of fear that people face. She also discusses practical ways to leverage fear and gain wisdom in return. Finally, she talks about how working through fear can help you practice gratitude in your life! In This Episode We Cover Leveraging the fear in your life to glean new financial wisdom The nine most common “flavors” of financial fear that hold people back The importance of education in helping you process your financial fears Confronting fear today to prevent financial loss in the future How to live “fearlessly” with a healthy amount of fear in your life Using fear to practice gratitude for what you have 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 Scott Trench’s Step-by-Step Guide to Building Your Perfect, 1-Page Investment Plan Grab Your Copy of Farnoosh’s Latest Book, “A Healthy State of Panic” “So Money” Podcast Click here to check the full show notes: https://www.biggerpockets.com/blog/money-447 Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Email us: [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoices

The FIRE community is notorious for chasing early retirement at all costs. Many search for creative ways to earn more money and spend less of it, only to end up hating the journey. If you’ve ever felt burnt out or discouraged on the road to FIRE, you’re in for a real treat with today’s episode! Welcome back to the BiggerPockets Money podcast! Today, we’re joined by Mark Trautman from Mark’s Money Mind. Early on, Mark decided that he was going to live life on his own terms. So, he and his wife worked their way out of debt and adopted the motto, “Make some, save and invest, and live on the rest.” After maximizing their 401(k) contributions, investing their money in other retirement accounts, and diligently saving each month, Mark and his wife were able to retire by the time he reached age fifty. We wish Mark’s story ended there. A few years later, however, his life was turned upside down after the death of his wife. While grieving the loss, Mark needed to adjust how he used his nest egg going forward. By implementing smart Roth conversion strategies and opening a “fun bucket” account, Mark was able to not only minimize his tax liabilitybut also find new ways to enjoy retirement. Stick around for a true masterclass on how to relish the journey to FIRE! In This Episode We Cover How to enjoy the journey toward financial independence and early retirement The financial implications you face after the death of a spouse Reducing your lifetime tax liability with Roth conversion strategies The “fun bucket” strategy you NEED to implement in retirement How to start teaching financial independence to your children TODAY 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 Backdoor Roths, Mega Backdoor Roths, and Roth Conversion Ladders Take Mark’s FREE 7-Week Financial Literacy Course Click here to check the full show notes: https://www.biggerpockets.com/blog/money-446 Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Email us: [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoices

Travel hacking allows you to see the world for less than you spend at home. That’s right. If you took your rent or mortgage payment in the US and traded it for traveling abroad, you could live off far less money and do far more than you do back in the States. But you’ll need to know how to work the system before you take off on your flight, or else you might come home happy and full but broke. Matthew Kepnes, better known online as Nomadic Matt, made travel his full-time job, documenting how much he spent, saved, and enjoyed along the way. Matt has spent more time outside the US than most Americans will in their lives—and he has some secrets to share. Matt goes over EXACTLY how to start travel hacking, from credit cards to cheap activities, hostels, hotels, and horror stories you should try to avoid. Matt also shares why so many Americans spend WAY too much money when they’re abroad and what you can do tomake your trip last FAR longer IF you follow a few essential tips. So, if you want to finally take the year off and wander around Europe, Southeast Asia, or Central America but don’t think you have the funds to do so, Matt is here to prove you wrong. In This Episode We Cover The most cost-effective way to travel and why you MUST “travel like you live” Why smart spenders MUST get a travel rewards credit card NOW Geographic arbitrage and the cheapest countries/areas to stay in for weeks (or months!) Hostel horror stories and why it ISN’T all partying and bunk beds Free activities you can do in ANY city and where to find them Matt’s top travel websites and apps to find hotel and flight deals for cheap 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 How to Earn Free Vacations With Travel Rewards Credit Cards Click here to check the full show notes: https://www.biggerpockets.com/blog/money-445 Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Email us: [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoices

Financial advisors are supposed to look after your money, but sometimes, their profits come first. We’ve had many questions about which type of financial advisors to use, which aren’t worth the fee, and whether you even need one in the first place. On this Finance Friday episode, Mindy and Scott are taking questions directly from listeners like you, and one of the top ones finally answers the question: what are these “fees” financial advisors are charging me!? You’ve got money questions. Scott and Mindy have answers. In this episode, they’ll touch on topics like which type of financial advisor to hire, whether cashing out your 401(k) early is ever worth it, what to do when your bank messed up your interest rate, when (and when not) to use LLCs for real estate investing, and how to start investing in stocks when you’ve only got $1,000! 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 How to start investing in the stock market with $1,000 (or less!) Rental property LLCs and why you’re probably wrong about “tax write-offs” Financial advisor fees and the ONLY type of financial advisor we’d recommend Cashing out your 401(k) early when you need to pay off credit card debt Return on equity explained and signs it’s time to sell/refinance a property 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! Register for an Upcoming InvestHER Event Money Moment Hear Our Last Q&A Episode The Simple Path to Wealth—Index Funds Explained with JL Collins The Simple Path to Wealth (Book) Work with a Fee-ONLY Financial Advisor Click here to check the full show notes: https://www.biggerpockets.com/blog/money-444 Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Email us: [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoices

A “wife-FI,” semi-retired finance blogger? It sounds like an exciting life, but what does it entail? Today’s guest didn’t arrive here overnight and doesn’t recommend it for everyone. What he does recommend, however, is identifying the type of financial independence you want and then working hard to achieve it! Welcome back to the BiggerPockets Money podcast! Today, we’re chatting with J Money, one of the pioneering finance bloggers who started his journey toward financial freedom back in 2007. After catching the personal finance bug, J decided to document his progress on his blog Budgets Are Sexy. After selling the blog to The Motley Fool and buying it back a few years later, J now blogs for fun, spends time with his three kids, and otherwise goes with the flow. In this episode, J shares about the “wife-FI” lifestyle and how he invests his money for the long haul. He also opens up about his recent autoimmune disease diagnosis and how it affects his family’s finances today. As always, Scott and Mindy are here to tackle all kinds of financial topics—including the debate between renting and home ownership, paying off your home versus keeping a home loan, and how to invest amid a potential economic downturn! In This Episode We Cover A typical “day in the life” of a semi-retired finance blogger The pros and cons of owning versus renting your home When it makes sense to pay off your home or keep a mortgage Where to invest your money in a shaky economy Budgeting for monthly expenses and medical costs on one 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 BiggerPocket 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! Join The Real Estate InvestHER Community on Facebook Money Moment How to Get Rich Slowly and Retire Earlier Than Most with a Modest Portfolio Budgets Really ARE Sexy! With J. Money Click here to check the full show notes: https://www.biggerpockets.com/blog/money-443 Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Email us: [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoices

Knowing how to budget is one thing. Knowing how to budget for a pricey pregnancy and future family is another. So, how do you smoothly go from a couple used to saving thousands of dollars every month to a family with a slew of new costs added to the budget? First, let’s look at what you’re making, what you’re keeping, and what you MUST have on hand to safely raise a family. We’ll be doing precisely that with today’s guest John. John and his wife make a sizable income and keep a strict budget with modest expenses. They’re saving a serious amount of money every month, but there’s one massive expense that’s about to be added to their budget. John and his wife have to go the surrogacy route for their first two children, and the price tag isn’t cheap. With a six-figure cost PER successful surrogacy, John wants to know how to balance his budget with his high student loans about to kick back in. He also wants to invest but knows that could put his surrogacy savings at risk. Even if you’re not going the surrogacy route, this episode is CRUCIAL for any new parent—especially those that still want to achieve FI earlier in life! In This Episode We Cover Budgeting for your future family and how to make sure your savings stay risk-free Surrogacy, expensive pregnancies, and unexpected costs you may have to pay Student loan debt and how to plan for payments once the pause is over The BEST savings account to stick your money into today Active investing vs. passive investing and why rental properties aren’t for everyone 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 BiggerPocket Grab Scott’s Book, “Set for Life” Scott Trench’s Step-by-Step Guide to Building Your Perfect, 1-Page Investment Plans Hear James on the “On the Market” Podcast Listen to All Your Favorite BiggerPockets Podcasts in One Place Apply to Be a Guest on The Money Show Podcast Talent Search! Listen to The Real Estate InvestHER Show Join The Real Estate InvestHER Community on Facebook Register for an Upcoming InvestHER Event Money Moment Federal Student Loan Forgiveness Update: What Happens Now? Budgeting for a Baby: The Costs EVERY New Parent Should Expect Click here to check the full show notes: https://www.biggerpockets.com/blog/money-442 Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Email us: [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoices

Foreclosure can be a sensitive topic. After the embarrassment of falling behind on payments, there’s the fear of losing your home and having no place to live. Rather than preying on someone who feels helpless, there are ways for investors to profit while also helping the distressed seller. In this episode, we’re chatting with guest and long-time friend Laura Morby. As the daughter of a general contractorand a licensed agent by twenty-two years old, Laura was destined for a long career in real estate. Little did she know that her start as a hustling real estate agent would land her in the top 0.05% and help her become a full-time investor! Foreclosure is an issue that resonates deeply with Laura, as her father was foreclosed on after the impact of the 2008 housing market crash. Her message to homeowners? Avoid the foreclosure auction at all costs. As for investors, don’t rush into a short sale! There are all kinds of creative financing solutions that can ingratiate you with the seller and help you reach a win-win deal. Join Laura, Scott, and guest host James Dainard as they discuss the biggest pain pointshomeowners face today, current foreclosure rates amid a looming recession, and how to properly vet a real estate agent before working together! In This Episode We Cover Creative financing options for homeowners facing foreclosure How investors can provide a valuable service to distressed homeowners The current foreclosure market and how investors are being affected The most common pain points homeowners face in foreclosure Costly pitfalls to avoid when selling a pre-foreclosed property Four questions you MUST ask a real estate agent before working together 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” Hear James on the “On the Market” Podcast Listen to All Your Favorite BiggerPockets Podcasts in One Place Apply to Be a Guest on The Money Show Podcast Talent Search! Listen to The Real Estate InvestHER Show Join The Real Estate InvestHER Community on Facebook Register for an Upcoming InvestHER Event Money Moment How to Buy a Foreclosure: A Guide for Finding & Landing Foreclosed Deals 6 Tips on Investing in Foreclosures for First Timers Click here to check the full show notes: https://www.biggerpockets.com/blog/money-441 Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Email us: [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoices

As an investor, it’s easy to become fixated on cash flow, much like today’s guest at the start of his real estate journey. After realizing he was “house poor” with a mortgage payment larger than he could afford, Eric Garber stumbled upon house hacking. He rented out his basement and used the extra money to pay off his house early. With proof of concept for his newfound house hacking strategy and income from a stable W2 job, everything was going great. Then Eric’s world came crashing down when his marriage ended and his employer froze his pension plan. Without a prenuptial agreement, his financial fate was left to the state court system. Losing more than half of the assets he had worked tirelessly to grow, Eric found himself back at square one. This time, he was going to do things differently. Rather than pouring his time, energy, and money into paying off his real estate and living off the cash flow, Eric realized the opportunity that could be had by accessing his equity and putting it to work—a revelation that will allow him to retire early, despite the curveballs life has thrown his way. If you think getting a prenup is “planning for divorce,” you’ll want to hear what Eric has to share in this episode of the BiggerPockets Money podcast. Beyond offering practical financial tips you can put into practice before getting married, he talks about the paradigm shift that allowed him to unlock wealth. He also discusses the investing strategythat allows him to earn truly “passive” income—syndication deals! In This Episode We Cover Why you NEED a prenuptial agreement to protect your financial future One of the most “passive” ways to invest in real estate Weathering economic downturns by diversifying your investment portfolio How to do your homework when analyzing a syndication deal Key financial tips to consider before you get married 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! Listen to The Real Estate InvestHER Show Join The Real Estate InvestHER Community on Facebook Register for an Upcoming InvestHER Event Money Moment Why You’re (Probably) Wrong About Prenups ROE over ROI and Why Your “Cash Flow” Number Is Deceiving Syndications: Everything You Need to Know BEFORE You Invest Click here to check the full show notes: https://www.biggerpockets.com/blog/money-440 Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Email us: [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoices

What should you do if you suspect financial infidelity from a partner? Money is a taboo subject in many marriages, and it doesn’t help that some spouses take a hands-off approach to personal finance. As you might imagine, this can quickly lead to one partner taking advantage of the other. Today’s guest is helping people save their nest eggs by uncovering and proving financial infidelity. Welcome back to another episode of the BiggerPockets Money podcast! Today, we’re joined by Tracy Coenen, a veteran forensic accountant who investigates fraud, hidden money, and other money “shenanigans” in marriages. Most often, Tracy helps spouses navigate finances during a divorce when emotions are already running high and both parties feel overwhelmed. Whether you need help unearthing hidden money or getting on the same page with your spouse, this episode is loaded with all kinds of helpful tips, tricks, and resources that will help you get a better handle on your finances. Join Tracy, Mindy, and guest host, Amanda Wolfe, as they discuss the biggest financial “red flags” in a marriage, things to include in a prenuptial agreement, and why the weekly money check-in is so important! In This Episode We Cover What to do if you suspect financial infidelity in your marriage The “fraud snowball” and how to stop it in its tracks How to uncover hidden money, secret accounts, and secret spending Why you NEED to form the habit of discussing finances with your spouse The importance of prenuptial agreements (and what you should include!) Tips and resources to help you keep a closer eye on your finances 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 Amanda's Instagram Amanda's Website Listen to All Your Favorite BiggerPockets Podcasts in One Place Apply to Be a Guest on The Money Show Podcast Talent Search! Listen to The Real Estate InvestHER Show Join The Real Estate InvestHER Community on Facebook Money Moment Why You’re (Probably) Wrong About Prenups Money Dates, Prenups, & Combining Finances Visit Tracy’s Website for More Helpful Resources Click here to check the full show notes: https://www.biggerpockets.com/blog/money-439 Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Email us: [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoices

Only have $100 – $5,000 but want to know how to invest it wisely? No amount is too small to start building smart money habits today. While some asset classes may not be viable for you just yet, there are still all kinds of ways to invest with a modest amount of money. Making the most of what you have now can set you up for a bright financial future. In this episode of the BiggerPockets Money podcast, Scott and Mindy have brought in reinforcements to discuss the best ways for beginners to invest a small amount of money—whether it’s $5,000 or as little as $100. With four unique perspectives on investing, you’ll find that there are several ways to make your money work harder for you. There is one common message, however: educate yourself and take action! Not everyone has a large nest egg to throw around. In fact, most Americans live paycheck to paycheck. If you don’t have much money to spare, this is the episode for you. You’ll learn about the investing order of operations, different types of retirement accounts and how they work, and ways to purchase real estate with no money down! In This Episode We Cover The best ways to invest with $100, $500, $1,000, $2,500, or $5,000 How to buy real estate with ZERO money down Different types of retirement accounts to add to your portfolio Maximizing your 401(k) contributions for a HUGE return on investment Leveraging debt to fast-track your investing journey 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 Amanda'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 Podcast Talent Search! Listen to The Real Estate InvestHER Show Join The Real Estate InvestHER Community on Facebook Money Moment Scott Trench’s Step-by-Step Guide to Building Your Perfect, 1-Page Investment Plan Check Your USDA Loan Eligibility Click here to check the full show notes: https://www.biggerpockets.com/blog/money-438 Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Email us: [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoices

Wedding costs have been slowly growing over the past few decades. But recently, after a wild 2020, 2021, and 2022 wedding season, the average wedding cost has hit heights that most Americans simply can’t afford. But what can you do? Cancel your wedding and go straight to the courthouse? While this isn’t a bad option for some, most couples tying the knot want something their friends and family will remember for years. So, here’s how to do it on a budget! We brought expert event planner and fundraiser AJ Williams on the show to go over what’s worth it, what’s not, and what couples should spend the MOST money on when planning their special day. Whether you’re getting married at home, stateside, or abroad, there are a few specific expenses of a wedding that you should never skip out on and some that could put you in a tough financial bind. With flowers, DJs, photography, and catering, which deserves a spot in your ceremony? AJ will also go over how much a wedding costs on average, what the elite pay for their ceremonies and parties (you won’t believe the number), and the top wedding myths that could cost you. In This Episode We Cover The average wedding cost in America and why prices have recently been rising What to cut and what to keep during your wedding day Budgeting for your wedding and how much of a buffer you REALLY need Common wedding cost myths and tips to save you THOUSANDS Non-negotiables when planning your wedding and what is worth paying extra for 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 Amanda'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 Podcast Talent Search! Listen to The Real Estate InvestHER Show Join The Real Estate InvestHER Community on Facebook Register for an Upcoming InvestHER Event Money Moment How to Financially Thrive in Marriage (Even if You or Your Partner is In Debt! AJ's Website Click here to check the full show notes: https://www.biggerpockets.com/blog/money-437 Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Email us: [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoices

“Get rich slowly” is a concept that most people in the FIRE community can get behind. “Time off,” on the other hand, seems to go against the idea of grinding to financial independence now and waiting until later in life to enjoy the spoils. Today’s guest is bucking this trend—using his financial freedom to support a “retired” lifestyle that includes traveling the world, discovering new hobbies, and learning new skills! Welcome back to the BiggerPockets Money podcast! Today, we’re speaking with J.D. Roth, founder of the personal finance blog, Get Rich Slowly. Initially launched to document his quest out of debt, this popular blog helped J.D. fast-track his journey toward financial independence. He now considers himself “retired,” although the more risk-averse person might say it’s a little too soon. If you’ve ever considered taking some time away from work but fear you don’t have the nest egg to support it, this is the episode you need to hear! J.D. tackles a handful of issues that FI-focused individuals don’t always touch on—including the importance of mental health and using a “mini” retirement to decompress. He also talks about why he’s not worried about his modest portfolio and shares the three five-year plans you need to prepare for any curveball life might throw in your direction! In This Episode We Cover How to implement a “mini” retirement on your journey to FIRE Prioritizing your mental health in a fast-paced, work-first culture How to take time off from work without blowing your nest egg A day in the life of someone who is taking a year off from working Important tips for saving more money and retiring even earlier 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 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 Podcast Talent Search! Listen to The Real Estate InvestHER Show Join The Real Estate InvestHER Community on Facebook Register for an Upcoming InvestHER Event Money Moment Finance Friday: How Sabbaticals Make You Happier, Healthier, and Wealthier Click here to check the full show notes: https://www.biggerpockets.com/blog/money-436 Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Email us: [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoices

Is early retirement healthcare crushing your budget? Are you tired of getting your standard two percent raise every year? What do you do when a “friend” borrows money and never pays you back? Some personal finance questions aren’t easily answered online. Instead, you need time-tested money experts to give their takes on the best moves to make. And in today’s episode, Mindy and Scott will do just that, taking questions from BiggerPockets Money listeners and answering them so you can reach financial freedom faster. This time, we’ve got a couple of uncomfortable positions you probably wouldn’t want to be in. One listener has a friend who asked for a loan and then almost immediately stopped paying, with the “friend” never to be seen again. Another question concerns a parent wanting to be paid back for student loans they took out in their name. Mindy and Scott then share a creative way to pay off credit card debt and give options on the BEST place to find post-retirement (but pre-sixty-five years old) healthcare. Finally, Scott puts on his CEO hat and shows you exactly how to ask for a raise! 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 What to do when someone owes you money (and WON’T pay it back) Student debt and whether or not you’re responsible for the loans your parents took out Early retirement health insurance and how to find affordable coverage before Medicare kicks in Knowing your market value and what to do when your employer can’t pay you more How to ask for a raise and the easiest way to identify whether you’re “essential” or not Creative ways to pay off your credit card debt when interest rates are high 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 Podcast Talent Search! Listen to The Real Estate InvestHER Show Join The Real Estate InvestHER Community on Facebook Register for an Upcoming InvestHER Event Money Moment Millennial Revolution Part 1 Millennial Revolution Part 2 Erin Lowry on Asking for a Raise 18 Options for Healthcare in Early Retirement with Lynn Frair How to Ask for a Raise (and Actually Get It!) w/Kassandra Dasent Submit your question for our next Q&A episode Click here to check the full show notes: https://www.biggerpockets.com/blog/money-435 Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Email us: [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoices

The last time Ramit Sethi was on the show, tears were shed, money fears were exposed, and Mindy was forced to take a hard look at her financial habits. Now, Ramit is back, as we revisit some of the critical moments of Mindy and her husband Carl’s interview on Ramit’s show, I Will Teach You To Be Rich. In this episode, Mindy challenges the FIRE frugality she’s been stuck on for so long and discovers why more money isn’t always a good thing. If you’ve ever had a money struggle, whether too much or too little in the bank, Ramit is who you should listen to. His advice goes far beyond the regular “save more than you spend, invest the rest” type of advice you constantly hear from frugal podcasters. Instead, Ramit wants you to maximize your happiness and make the most out of life while not struggling to survive. In short, Ramit wants you to live a rich life, not a frugal one. If you struggle to spend, pinch pennies, or are dead set on reaching FIRE as fast as possible, this episode is for you.Carl, Mindy, and Scott will go over the common misconceptions about money, debunk the “wasteful” spending myth, explain why you should die with zero, and critique the flaws of the FIRE community. In This Episode We Cover Why the FIRE movement is wrong and getting rich should NOT be the goal What to do when you have lots of money but no time to spend it How to “Die With Zero” and enjoy your wealth while you’re still here The “what if I run out” fear and how to get over the dread of overspending Testing your spending and why you NEED to book that trip you’ve been thinking of Building a rich life and how to make the most of it with the money you have 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 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 Podcast Talent Search! Listen to The Real Estate InvestHER Show Join The Real Estate InvestHER Community on Facebook Register for an Upcoming InvestHER Event Money Moment Mile High FI Podcast 1,500 Days to Freedom Carl's Email Ramit Sethi’s Money Advice for Couples: Live a Rich Life, Together Mr. Money Mustache on Life After FI: The Truth About Retiring Early in Your 30s Hear Mindy and Carl on “I Will Teach You To Be Rich” My Death March to Financial Independence Click here to check the full show notes: https://www.biggerpockets.com/blog/money-433 Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Email us: [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoices

Terrified of running out of money in retirement? Countless people share the same fear. With so much recent discourse surrounding inflation and a looming recession, you may have a tighter grip on your money than usual. Today’s guest is here to help cool some of your concerns. In this episode of the BiggerPockets Money podcast, we’re joined by David Stein from Money for the Rest of Us, who believes there are reasons to be optimistic about the economy and even more reasons to stay on the straight and narrow when it comes to investing. If you’re easily overwhelmed by the thought of investing or choosing the right asset classes, David’s message is clear: investing doesn’t need to be difficult. There are plenty of tools the average person can use to invest, grow their nest egg, and have enough money for retirement. Don’t let fear stop you from putting your money to work! Whether you’re a novice or long-time investor, you’re in for a treat with today’s episode. Tune in as David addresses several issues—including the current state of the economy, whether we should brace for a recession, and the markets he’s investing in. He also talks about the benefit of steering clear of individual stocks in lieu of ETFs and index funds, as well as when it might be smart to buy an immediate annuity! In This Episode We Cover The four-percent rule and how to avoid running out of money in retirement How current returns on real estate compare to those of other asset classes The benefit of buying exchange-traded funds (ETFs) and index funds in lieu of individual stocks Diversifying your investment portfolio to include non-U.S. markets Three important principles to focus on when deciding where to invest Buying annuities to lock in an additional income stream during retirement 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 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 Podcast Talent Search! Listen to The Real Estate InvestHER Show Join The Real Estate InvestHER Community on Facebook Register for an Upcoming InvestHER Event Money Moment Choosing the Right Investment Type for Your Goals with David Stein Check Out the Latest Five-Year TIPS at TreasuryDirect Click here to check the full show notes: https://www.biggerpockets.com/blog/money-432 Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Email us: [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoices

The gender investing gap is real, but it’s not due to women lacking capital. More often than not, women are saving their money rather than investing in real estate and allowing it to grow. As successful women in real estate, today’s guests are here to break down the reasons for this investing gap and how we can work together to close it. In this episode of the BiggerPockets Money podcast, we’re joined by none other than Liz Faircloth and Andresa Guidelli, co-hosts of our sister show, The Real Estate InvestHER Show. Like many novice investors, Liz and Andresa both discovered their love for real estate shortly after reading Robert Kiyosaki’s Rich Dad Poor Dad. Years later, both have amassed their own large portfolios and are committed to helping more women dive into the world of real estate investing. Regardless of gender, there’s something for everyone to take away from this episode. Liz and Andresa share about the unique challenges women investors face today, building your real estate network, and how to find your investing partner. They also deliver some actionable next steps for women who are hesitant to invest, as well as some tips for men who want to be allies for women investors! In This Episode We Cover The global economic impact of women investing their capital The unique advantages and disadvantages women face when investing How to be an ally for women investors in your sphere of influence Actionable next steps for women looking to invest in real estate The importance of community when getting into real estate How to find the perfect partner for your real estate investments 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 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 Podcast Talent Search! Listen to The Real Estate InvestHER Show Join The Real Estate InvestHER Community on Facebook Register for an Upcoming InvestHER Event Money Moment Download the FREE Partnership Question Guide Click here to check the full show notes: https://www.biggerpockets.com/blog/money-431 Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Email us: [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoices

Want to cut your electric bill in HALF? A few secret yet simple hacks can save you hundreds, if not THOUSANDS, on your utility bills. And with energy prices almost double where they were just a few years back, everyone is antsy about turning on their air conditioners, even if you feel like you’re about to melt. Thankfully, we’ve got Larry and Hope Ware, also known as “Under the Median,” to show us EXACTLY how they lowered their electric bill by making some simple money moves. Larry and Hope have been long-time frugalists. A few years into dating, they realized they were flat broke and had to make a tough choice: put their future family first or keep spending without second thoughts. They chose the frugal path to financial independence and, as a result, raised four children on a $40,000/year salary, becoming completely debt-freein the process. Larry and Hope know how to run a budget, and saving money is their sport of choice. In this episode, Larry and Hope will unpack one of their most astonishing financial accomplishments of late; cutting their electricity bill in half. Through some utility-bill digging and kilowatt-testing, Larry and Hope have built a list of tips that could help you lower your utility bills to levels you may have never seen before. Want in on this money-saving cheat code? Tune in! In This Episode We Cover How to cut your electricity bill in half, EVEN if you live in a sweltering climate Building your “Bare Bones Budget” and prioritizing where money is best spent The “big green pile of cash” trap that you CAN’T fall into The BIGGEST mistake most people make when budgeting “Vampire energy” and how unused appliances could be stealing your cash 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 Kyle’s Website Clarity Financial Kyle’s Twitter 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 Check Out Mindy’s 2022 Live Spending Tracker and Budget The Stupid-Simple Budgeting Trick I’m Using to Stop Blowing 5 Figures a Month The Cheapest Way to Lower Your AC Bill This Summer We Cut Our Electric Bill in Half in About 6 Weeks Click here to check the full show notes: https://www.biggerpockets.com/blog/money-430 Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Email us: [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoices

First-time home buyer? After this episode, you’ll see the house-hunting process in an entirely new light. Throw out the granite countertops and exposed beams you’ve always dreamed of because making an emotion-first home-buying decision could ruin your financial future. If you’re trying to build wealth, you’ll want to follow Scott Trench’s home-buying checklist, which may show that renting is the best money move you can make. The roles are reversed on today’s show because this ISN’T the BiggerPockets Money podcast; It’s Money Rehab with Nicole Lapin! Scott recently joined Nicole to talk transparently about the realities of buying your first home. In this show, Scott and Nicole go through why homeownership is falling across the US, whether or not buying in 2023 even makes sense, and why your house ISN’T what you think it is. Plus, if you’ve been debating buying a rental property, Scott has some words of wisdom you MUST take to heart before putting in offers. You’ll also hear why SO many landlords are wrong about LLCs (DO NOT miss this section) and the EXACT steps you should take to put yourself in the best home-buying position possible! Want to hear more Money Rehab? Never miss an episode and subscribe to Money Rehab with Nicole Lapin wherever you get your favorite podcasts, or here: https://link.chtbl.com/91jeLu8k In This Episode We Cover Scott Trench’s checklist for the first-time home buyer The “Lock-In Effect” and why homeowners are unable to sell their houses Why your house isn’t the investment that you think it is House hacking, living next to tenants, and the truth about becoming a landlord Whether or not you need an LLC and how having one could actually hurt you The exact process Scott follows before buying any property 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 Podcast Talent Search! Money Moment Check Out Mindy’s 2022 Live Spending Tracker and Budget Tune into “Money Rehab with Nicole Lapin” Nicole Lapin’s Money Hacks to Rehab Your Finances & Say Goodbye to Bad Debt Click here to check the full show notes: https://www.biggerpockets.com/blog/money-429 Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Email us: [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoices

If you want to retire early, the Mad Fientist is your guide. For over a decade, Brandon, more commonly known as the “Mad Fientist,” has been running simulations, experiments, and exercises to discover which road to early retirement is the fastest. Now, in his forties, Brandon has time to reflect on what worked, what didn’t, and his regrets on the sprint to early retirement and financial freedom. And he’s also got a new update that’ll make your early retirement journey smoother. After tinkering with the beloved and rarely challenged 4% rule, Brandon decided it was time to sit down and calculate how much you really need to retire early. For decades, financial freedom chasers have been breaking their backs, trying to have as much stashed away as possible to enjoy their well-earned time off from work. But, it turns out that this number might be overinflated, and you can retire with much less than you think. That means your early retirement timeline just got a LOT shorter. In this episode, Brandon will describe why the 4% rule may be a bit too rigid, how to ensure you’ll have enough during early retirement, what to do during a market crash or correction, and why spending thousands of dollars on a coffee machine isn’t such a bad idea. If you want to maximize enjoyment in early retirement, instead of building a big bank account you probably won’t use, stick around! In This Episode We Cover Early retirement rules of thumb you MUST know when on the path to FIRE The 4% rule and why you DON’T need to follow it to a tee Retirement withdrawal rules and how much to spend during a crash/correction The skill of spending and what Brandon regrets most from pre-FIRE life Tracking your expenses and why knowing your costs is CRUCIAL to early retirement 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 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 Podcast Talent Search! Money Moment Check Out Mindy’s 2022 Live Spending Tracker and Budget Hear Our Past Interviews with The Mad Fientist: Accessing Retirement Funds Before Age 59½ with The Mad Fientist Backdoor Roths, Mega Backdoor Roths, and Roth Conversion Ladders Is It Time to Give Up on Financial Independence? Hear Our Interview with "Just Keep Buying" Author, Nick Maggiulli: The Problem with the 4% Rule (and Why You Could Retire Even Sooner Click here to check the full show notes: https://www.biggerpockets.com/blog/money-428 Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Email us: [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoices

A rental property portfolio can replace your job, give you ultimate financial freedom, and allow you to do what you want when you want. But building this massive passive income stream takes time, and if you stick with it, you’ll be rewarded plentifully like today’s guests, Jennifer and John. After starting with an “average” income, this couple was able to consistently buy cash-flowing rentals with the leftovers from their salaries. They compounded their cash flow to buy even more properties and now sit on around $8,000,000 in real estate. With so much wealth, you’d expect Jennifer and John to be the jet-skiing, vacation-home-buying, luxury car-racing types; but they’re FAR from it. John is still working at his W2 job as Jennifer continues to run her business. They both keep their spending low and live a moderate lifestyle. But, the lack of time freedom and heavy hours of a full-time job is eating away at John. This couple needs to know how they can use their real estate portfolio to retire early. To go through all the rates, rentals, construction costs, and cash-flow-number-crunching is investing expert James Dainard, who joins Scott on a resourceful episode for any real estate investor. James and Scott will review Jennifer and John’s entire portfolio, giving them suggestions on what to sell, keep, and buy instead. By the end of this episode, John and Jennifer have multiple options that could make them MILLIONS in just a few years’ time! In This Episode We Cover The “rate trap” that stops so many rental property investors from upgrading their portfolios Investing in real estate on an “average” income and why it’s possible for everyone Tapping into equity and the one metric that’ll tell you whether you should keep or sell your property Small multifamily vs. large multifamily and why bigger is usually better ADUs (accessory dwelling units) and how to make instant equity by building one And So Much More! Links from the Show BiggerPockets Money Facebook Group BiggerPockets Forums Finance Review Guest Onboarding Find Investor-Friendly Lenders Join BiggerPockets for FREE Scott's Instagram Connect with James BiggerPockets Watch James on the “On The Market” YouTube Channel Listen to The “On The Market” Podcast: Spotify, Apple Podcasts, 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 How To Build A Real Estate Portfolio ROE over ROI and Why Your “Cash Flow” Number is Deceiving Click here to check the full show notes: https://www.biggerpockets.com/blog/money-427 Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Email us: [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoices

The Financial Independence, Retire Early movement (FIRE movement) is changing. More people are investing, making money, and working from anywhere in the world. Investing education and advice has become easier to access, and self-made millionaires have been created through simple frugality and smart spending. Compared to when the FIRE movement was born, now may be one of the best times in recent history to achieve financial independence. But there’s more than one path to choose from. Happy Financial Independence Day! That’s right; we’re swapping hot dogs for home equity, fireworks for frugality, and a cold one for some cold hard cash because TODAY is a day to celebrate an accomplishment we all hope to achieve! In this special episode, Scott and Mindy fly solo, touching on the history of the FIRE movement, its most prominent figures, and lessons learned on the path to FI. But that’s not all; tell your overspending Uncle to tune in as Scott and Mindy debate some of the most common complaints about the FIRE movement and prove that anyone, in almost any situation, can live life on their terms. So sit back, grab those chips you saved for tomorrow’s barbeque (no one will notice), and get your FIRE started! In This Episode We Cover The financial independence retire early movement (FIRE movement) explained The MULTIPLE paths to early retirement you can take (and which is right for you) FIRE rules you MUST follow that can help ANYONE reach financial freedom What to do once you achieve FIRE and planning for it when you’re on the path Debating the FIRE critics and why you DON’T need to give up everything as you build wealth 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 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 Podcast Talent Search! Check Out Mindy’s 2022 Live Spending Tracker and Budget Bill Bengen (The Inventor of the 4% Rule) From Homeless at 14 to Debt-Free Homeowner AFTER Prison Time with Jazmyn Gray How to Change Your Financial Life with a Money “Reset” with Jill Schlesinge Mr. Money Mustache on Life After FI: The Truth About Retiring Early in Your 30s Mr. Money Mustache Coast FI: The Calculated Way to Retire Early WITHOUT Giving Up What You Love with The Fioneers Designing a Frugal But Luxurious FI Life by Age 32 Change Your Money Mindset, Change Your Life with Vicki Robin Click here to check the full show notes: https://www.biggerpockets.com/blog/money- Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Email us: [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoices

If you make the right money moves, financial freedom is only a few years away. You can’t spend your entire paycheck on travel, trips, high rent, or entertainment if you want to retire early and have true time freedom. Matt Amabilerealized this earlier than most. At twenty-two years old, Matt wasn’t making much at his job, and living in an expensive area didn’t help. His goal was simple: live for free so he could pocket most of his take-home pay. What happened was even better than he would have expected. With one property purchase, Matt eliminated his rent expense and created a $1,600-a-month passive income stream. This first venture into real estate was challenging, to say the least. From shady contractors to fist fights in a four-unit, a renovation timeline that went much longer than expected, and lockdowns making even simple tasks impossible, Matt hoped the reward was worth the risk on his first property. Spoiler alert: it definitely was. Now, financially free at twenty-six, Matt works when he wants, where he wants, making $6,000 per month in passive income. He did all this in just four years, starting with $10,000, making a median salary. If Matt can do it, with zero experience in real estate investing, what’s stopping you from doing the same? In This Episode We Cover The most underrated real estate strategy that helps you reach financial freedom FAST The 203(k) loan explained and using it to make MASSIVE equity gains on a property Sacrificing luxuries and keeping your expenses low so you can retire early Real estate partnerships and how to buy properties when you don’t have any money The “BRRRR on training wheels” that new real estate investors should try Job hopping and how Matt tripled his salary in under five years And So Much More! Links from the Show BiggerPockets Money Facebook Group BiggerPockets Forums Finance Review Guest Onboarding Find Investor-Friendly Lenders Join BiggerPockets for FREE Scott's Instagram Connect with James BiggerPockets Watch James on the “On The Market” YouTube Channel Listen to The “On The Market” Podcast: Spotify, Apple Podcasts, 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 Click here to check the full show notes: https://www.biggerpockets.com/blog/money-425 Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Email us: [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoices

Coast FI by 32 after racking up $20K in credit card debt only a few years earlier!? However unlikely this turn of events might seem, the truth is that any money story can be turned on its head with a little financial know-how and good money habits. And today’s guest is living proof! Having accumulated $20K in credit card debt by the time she graduated from college, Yanely Espinal wasn’t exactly on the straight and narrow path toward financial freedom. But after reading Suze Orman’s Women & Money, Yanely was inspired to take control of her finances. Within 18 months, she had not only wiped out her debt entirely but also catapulted herself toward financial independence—a goal she would achieve before her 32nd birthday. Yanely has since made it her life mission to champion the financial literacy movement and push for financial education requirements in all states by 2030. Whether you’re at a crossroads in your financial journey, waist-deep in consumer debt, or well on your way to FIRE, there’s something for everyone to take away from Yanely’s story. In this episode, she shares her game plan to getting out of debt, achieving coast FI, and the keys to improving financial literacy in schools. As always, our trusted hosts Mindy and Scott join the conversation to help demystify several money topics—from overcoming generational poverty to creating multiple income streams and more! In This Episode We Cover The dangers of high-interest credit card debt (and how to get rid of it!) How to achieve coast FI as soon as possible and retire comfortably Breaking the cycle of generational poverty in the United States The THREE keys to improving financial literacy in schools What YOU can do to help propel the financial education movement forward 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 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 Podcast Talent Search! Listen to The “On The Market” Podcast: Spotify, Apple Podcasts, BiggerPockets Money Moment From $50K in Debt to Financially Free in 2 Years w/ Lots of Ups & Downs Compound Interest Calculator Grab Your Copy of “Women & Money” by Suze Orman Grab Your Copy of Yanely’s Latest Book, “Mind Your Money” Track Your State’s Movement for Financial Education with the NGPF Bill Tracker MissBeHelpful Website Click here to check the full show notes: https://www.biggerpockets.com/blog/money-424 Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Email us: [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoices

Is your W2 job causing you to burn out? You have dreams of achieving financial independence and retiring early, but the unrelenting demands of your nine-to-five job are causing you to work around the clock and miss precious moments with loved ones. If you’re feeling this way, you’re not alone! Welcome back to another episode of the BiggerPockets Money podcast! Today’s guest, Amanda, has spent the last four years grinding toward an early retirement. Although the security of her husband’s reliable W2 income has allowed them to cover all of their expenses, invest in real estate, and grow their nest egg, they are quickly reaching a breaking point. As parents of four young children, they don’t want their busy work lives to keep them from what matters most. Is there a middle ground? If your FIRE journey is causing you to burn the candle at both ends, this is an episode you won’t want to miss! Mindy and our guest co-host, Kyle Mast, share their perspectives on quitting your W2 job, finding work-life balance through real estate, and when it might be time to pump the brakes on your journey toward early retirement! In This Episode We Cover How to create work-life balance on your journey toward FIRE Leaving the security of a W2 job for the flexibility of real estate The challenges you might face when investing out of state The pros and cons of short-term, mid-term, and long-term rentals (and how to choose!) Using your market’s short-term rental comps to raise or lower your Airbnb rates When to sell an investment property rather than holding on to it 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 Kyle’s Website Clarity Financial Kyle’s Twitter 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! Listen to The “On The Market” Podcast: Spotify, Apple Podcasts, BiggerPockets Money Moment The Money Date: What You Should (And Definitely Should Not) Do to Align Your Finances as a Couple Hear Our Last Finance Friday Episode with Joe Find Short-Term Rental Comps with AirDNA Click here to check the full show notes: https://www.biggerpockets.com/blog/money-423 Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Email us: [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoices

Is early retirement possible if you’re dead broke in your 50s? What about regular retirement when you have a negative 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” mindset and start investing for your future The “wake-up call” that caused Becky and Bill to change their financial mindset Whether or not it’s ever “too late” to retire (and what to do if you’re there) Becky and Bill’s advice for those that are broke in their 40s, 50s, or 60s Why you should NEVER buy a boat 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 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 Podcast Talent Search! Listen to The “On The Market” Podcast: Spotify, Apple Podcasts, BiggerPockets Money Moment Rethink Social Security: Myths, Benefits, and Clearing Up Misconceptions Click here to check the full show notes: https://www.biggerpockets.com/blog/money-422 Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Email us: [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoices

One of the best ways to boost your earning potential is with multiple income streams. With only so much time to dedicate to each stream, however, how do you maximize your total income without burning out? Today’s guest, Joe, is no stranger to the time constraints that come with managing multiple streams of income. With THREE promising income streams, he’s got his hands full! At 22, Joe launched an online coaching business that earned almost $30K per month at its peak. Unfortunately, working 90–100 hours each week quickly took its toll on Joe, his relationships, and his overall well-being. Unsure of how to juggle his online business, nine-to-five, and latest endeavor—investing in real estate—Joe now finds himself at a crossroads. Which avenues should he pursue going forward? Which income streams offer the highest earning potential? Which options afford him the most schedule flexibility? In this episode of the BiggerPockets Money podcast, you’ll get a full breakdown of Joe’s monthly income and expenses, as well as a glimpse of some of his long-term financial goals—including how he plans to revamp his online business, make real estate his next side hustle, and retire early. With help from Mindy and guest co-host Kyle Mast, Joe weighs the pros and cons of each income stream and gets a clearer vision of how to optimize his total income going forward! In This Episode We Cover Maximizing your earning potential without sacrificing work-life balance How to avoid burnout when scaling a profitable side hustle The importance of time management when you have multiple income streams What you need to know before you start investing in real estate How to use other income streams to fund your real estate investments What it really takes to retire early in your 40s 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 Kyle’s Website Clarity Financial Kyle’s Twitter 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! Listen to The “On The Market” Podcast: Spotify, Apple Podcasts, BiggerPockets Money Moment Financial Freedom Through Multiple Streams of Income Building 61 Passive Streams of Income with Pat Hiban Click here to check the full show notes: https://www.biggerpockets.com/blog/money-421 Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Email us: [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoices

Turning a man cave into a “money cave” Airbnb making thousands of extra dollars a month? It doesn’t get more house-hackable than this! Ron Curtis was able to pick up his first home in a pricey area for only a few thousand dollars. But how he funded his “money cave” is even more impressive. Within just hours, Ron was able to get $20K to renovate and rehab his basement unit, turning a few thousand dollars into two fully-furnished units and a house hack that pays his mortgage for him. Want to hear how he did it? Tune in! Ron is a serial entrepreneur. If it makes money, Ron has tried it. From renting cars on Turo to managing Airbnbs, starting his own credit repair and financial coaching consultancy, and turning his primary residence into a cash-flowing short-term rental, Ron isn’t messing around. He does all this while still having a typical W2 job, allowing him to save almost all the income he collects so that he can invest even faster. But, just five years ago, Ron was in a different financial state. After blowing five figures on travel, trips, and going out, Ron took a step back and looked at all the credit card debthe racked up. Thanks to a helpful coworker, he was able to pay it off without succumbing to twenty-plus percent interest rates. Ron used this same strategy to help his friends pay off their debt and eventually start coaching. Now, running multiple cash-flowing businesses, Ron has side hustles that outpace most people’s nine-to-five. So how does he do it all with just twenty-four hours in the day? He’ll share his secrets in this episode! In This Episode We Cover The two easiest ways to escape credit card debt (and which one Ron recommends) Low money down real estate loans and the mortgage programs you MUST know about Starting your side hustles and the true cost of building a business Short-term rental house hacking and turning spare space into extra cash Outsourcing and delegating using VAs (virtual assistants) so you DON’T have to work for your business Business credit cards and using yours to buy assets that will make you richer 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 Connect with James 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 Listen to The “On The Market” Podcast: Spotify, Apple Podcasts, BiggerPockets Click here to check the full show notes: https://www.biggerpockets.com/blog/money-420 Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Email us: [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoices

Side income streams are your way out of breaking even every month. If you’re like most Americans and find your savings stagnating, without much room for growth, it might be time to look at opportunities outside your nine-to-five. This is exactly what today’s guest, Liz, did by becoming a real estate agent and growing her seasonal business. But, Liz is in one of the northernmost states, where winters are harsh and home sales halt once the snow falls. Liz wants to grow her real estate agent side income into a full-blown business, but how can she do so when half of the year is too cold to show houses? If you have seasonal income or an infrequent side hustle to help pay your bills, this is an episode for you! Mindy and Scott will walk through how Liz, or any other entrepreneur, can use the sunny season to grow their businesses to new heights, strengthen their savings, and invest the rest so early retirement isn’t just some far-off dream. Liz also needs to know where her money is best put to use. With a serious cash cushion, she’s debating whether or not having a large amount of cash is worth the financial stability or if investing it for passive income is a better option. With her own primary residence coming close to closing, what should Liz do with her hard-earned cash? In This Episode We Cover How to turn a seasonal income stream into a full-time business that pays your yearly salary What to do when you’re breaking even every month (EVEN with low expenses) Becoming a real estate agent and how to find leads in untraditional ways Cash reserves and where to invest your money when you have too much REITs (real estate investment trusts) vs. index funds and which makes more passive income When to pay off debt vs. keeping cash in a high-yield savings account 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 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 Podcast Talent Search! Listen to The “On The Market” Podcast: Spotify, Apple Podcasts, BiggerPockets Fire by 45 Investment Plan Grab “6 Steps to 7 Figures” Read More About REITs Click here to check the full show notes: https://www.biggerpockets.com/blog/money-419 Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Email us: [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoices

An online side hustle that replaces your $100K salary in year one!? It sounds like an impossible feat, but today’s guest was able to achieve this by launching an unusual ecommerce business—allowing his wife to quit her job and stay at home with their kids full-time! Welcome back to another episode of the BiggerPockets Money podcast! Today, we’re chatting with Steve Chou, a serial entrepreneur, ecommerce influencer, and founder of MyWifeQuitHerJob.com. When Steve’s wife became pregnant with their first child, he was faced with the challenge of finding a side hustle that could replace his wife’s 9-5 income. Of course, living in Silicon Valley isn’t cheap, and replacing a $100K salary is much easier said than done. Despite these hurdles, Steve was able to turn one brilliant idea into a profitable business that has managed to grow every year since 2007. If you’ve always wanted to start your own side hustle but are unsure where to begin, this episode is for aspiring entrepreneurs like you! Tune in to hear Steve share about the humble beginnings of his handkerchief side hustle, how to find ecommerce success in 2023, and achieving financial freedom without burning out. As always, Mindy and Scott bring their own financial expertise to the table and deliver some timely wisdom! In This Episode We Cover Why you NEED a side hustle to make life-changing money How to launch a successful ecommerce business in 2023 Building a business with the goal of replacing your 9-5 salary Staying relevant, outlasting AI, and achieving longevity in your business How to arrive at “enough” so that you enjoy financial freedom without burning out The best ways to protect your business against intellectual property (IP) theft 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 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 Podcast Talent Search! Listen to The “On The Market” Podcast: Spotify, Apple Podcasts, BiggerPockets Money Moment Grab Your Copy of “Set for Life: An All-Out Approach to Early Financial Freedom The Most Profitable Skill to Learn (From a $200M+ VC Investor) Pre-order The Family First Entrepreneur and Get $690 in FREE Bonuses Learn How to Start a Thriving Ecommerce Business Bumblebee Linens Click here to check the full show notes: https://www.biggerpockets.com/blog/money-418 Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Email us: [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoices

Pet insurance probably isn’t a top priority for you right now. Your budget might have health, car, and home insurance, but pet insurance? Is it really worth the cost? Today we talk to David, an engineer and part-time wilderness trip guide, who was hit with an astonishing amount of vet bills after his beloved four-legged friend, Blaze, was diagnosed with Lymphoma. This unexpected bill damaged David and his wife’s investing plans, but not all hope is lost. If you have a dog, cat, rabbit, lizard, or other non-human friend (sorry, your kids don't count) living at home, this is an episode for you! We’ll get into the nitty-gritty of what happens when your pet has an unexpected medical diagnosis, leaving you with a mortgage-sized bill to pay every month. While many of us have animal companions that make our life whole, few realize the cost of paying for treatment when a life-threatening disease comes into play. You’ll hear about thepros and cons of pet insurance, whether or not it’s actually worth it, and the hard choices you may have to make when adopting or purchasing a pet. But it’s not all bones and hairballs in this episode. Our guest David also has some exciting news about a six-figure business he and his wife are building. With David’s wife itching to start taking this income stream to new heights, David is debating whether or not giving up one of their stable incomes is worth the hit to their retirement accounts. Thankfully, Mindy and Scott find a workaround to keep them in a FIRE-first position! In This Episode We Cover The true cost of a sick pet and how to deal with six-figure vet bills Pet insurance pros and cons and what to look for when choosing a policy Serious side hustles and how to turn yours into a six-figure income stream Keeping your stable job vs. following your passion and starting a business Why reaching financial independence fast IS NOT for everyone (and what to do instead) Cash reserves and why keeping your expenses low will help you deal with medical emergencies Links from the Show BiggerPockets Money Facebook Group BiggerPockets Forums Finance Review Guest Onboarding Join BiggerPockets for FREE Mindy on BiggerPockets 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 Podcast Talent Search! Listen to The “On The Market” Podcast: Spotify, Apple Podcasts, BiggerPockets Money Moment Take a Trip with Blaze Adventure Tours Pet Insurance Links: Healthypaws Trupanion Mid-Atlantic Federal Credit Union HELOCs Click here to check the full show notes: https://www.biggerpockets.com/blog/money-417 Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Email us: [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoices

Want to replace your nine-to-five? You'll need to know how to buy a business. And while you may think that you need to be some high-level executive or business-building savant, the reality is that TONS of profitable businesses are selling for pennies on the dollar, just waiting for you to come in, scoop them up, and start making six (or even seven) figures without doing all the work. This is the EXACT strategy that Codie Sanchez used to leave her high-paid banking career to make millions running so-called “boring” businesses. Whether it’s a laundromat, landscaping service, or law firm, businesses are up for sale without you even knowing it. You DON’T need to be an industry expert to get in on any of these deals. Many of the businesses that Codie has bought have been outside of her core competency. She’s gotten so good at business-buying that Codie now helps other want-to-be entrepreneurs get out of their jobs and into businesses that’ll help them build wealth. Codie’s ten simple steps to business buying can help ANYONE buy, build, and profit from a “boring” business. Codie breaks down exactly why she left the big paychecks behind to start buying businesses, the repeatable steps to acquiring and growing a business, which business you should be looking for, and five to NEVER buy. You’ll also hear how she funds these business purchases and what to do AFTER buying a business that massively multiplies revenue and makes you millions! In This Episode We Cover The “boring” businesses that can replace your salary and make you a millionaire How to buy a business from start to finish and five business types you MUST avoid Jobs vs. businesses and how to ensure you buy cash flow, not another nine-to-five Codie’s buy box and EXACTLY what she looks for when acquiring a business Where to find funding for business purchases (and which sellers will offer you financing) Hiring, firing, and becoming the CEO of your first business 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 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 Podcast Talent Search! Listen to The “On The Market” Podcast: Spotify, Apple Podcasts, BiggerPockets Money Moment Hear Past BiggerPockets Episodes with Codie: The Cash-Flow Boosting Businesses that Savvy Real Estate Investors Own The MOST Profitable Skill to Learn (From a $200M+ VC Investor) How to Buy Yourself a 6-Figure Income Stream w/Tim Delaney Click here to check the full show notes: https://www.biggerpockets.com/blog/money-416 Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Email us: [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoices

Retirement is always some far-off goal. When you’re older and much more wealthy, you can live the golden years of your life without a care in the world. The problem? None of us know how much time we have left, how healthy we’ll be as we age, and whether or not these years are the best we’ll ever get. So, why wait to retire in your sixties when it’s possible to retire in your twenties, thirties, forties, or fifties? If you had the choice to live your ideal life NOW, wouldn’t you choose to do so? On this Finance Friday episode, we talk to Sara, who had a recent wake-up call about waiting for retirement. While on a casual run, Sara suffered sudden cardiac arrest, prompting her to be put into a medically-induced coma. Without any signs of something like this happening, Sara started to ask whether or not she was living her life to the best of her ability and if waiting for retirement age was worth the risk. With six figures in student debt from her husband but solid salaries to support their low-cost-of-living lifestyle, Sara wants to know how she can transition to part-time work while still saving and investing for early retirement. Thanks to smart decisions Sara has made, she’s in a phenomenal position to take her foot off the gas, but how can she do so without sacrificing her future? In This Episode We Cover Student loans and whether to pay off debt or invest for early retirement Switching from full-time work to part-time hours while keeping benefits and saving your sanity Planning your “ideal life” and why waiting until traditional retirement age could be a big mistake Cash reserves and how much you should have when planning to leave a full-time salary Building your investment plan based on what you (and your partner) really want out of life 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 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 Podcast Talent Search! Listen to The “On The Market” Podcast: Spotify, Apple Podcasts, BiggerPockets Money Moment Scott Trench’s Step-by-Step Guide to Building Your Perfect, 1-Page Investment Plan How to Retire Early (From Someone Who Did at Age 27) Should You Pay Off Debt or Invest? Click here to check the full show notes: https://www.biggerpockets.com/blog/money-415 Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Email us: [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoices

Wish you had a few money hacks to help with things like getting out of debt, finding the right assets to invest in, and growing your nest egg? The average person may not even know where to start! Today’s guest is using her platform to help simplify money concepts and improve financial literacy at a time when it is sorely lacking. Welcome back to another edition of the BiggerPockets Money podcast! Today, we’re joined by Nicole Lapin, founder of the Money News Network, host of Money Rehab with Nicole Lapin, and author of multiple New York Times and Wall Street Journal bestselling books, including Rich Bitch, Boss Bitch, Miss Independent, and Becoming Super Woman. Born into a first-generation American family, Nicole lacked financial literacy early on in life and was easily intimidated by financial concepts. Only after learning the language of money was she able to take control of her finances and pay off the consumer debt she had accumulated. In this episode, Nicole spills some of the top money hacks she has learned over the past 20 years. Wherever you are in your financial journey—whether it’s neck-deep in consumer debt or well on your way towards achieving financial independence and retiring early—you won’t want to miss what Mindy, Scott, and Nicole have to share about investing in today’s climate, assessing your risk tolerance, and making the most out of your money! In This Episode We Cover Money hacks for investing and rehabbing your personal finances Two methods of getting out (and staying out) of consumer debt How to create a “spending” plan using the “three E’s” Living below your means to fast-track your journey towards financial freedom How to assess your risk tolerance and find the right assets to invest in An alternative to financial independence, retire early (that could allow you to “retire” even sooner!) 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 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 Podcast Talent Search! Listen to The “On The Market” Podcast: Spotify, Apple Podcasts, BiggerPockets Money Moment The Pillars of FI: Designing the Life You Want 12 Things to Give Up to Become Debt-Free This Year Click here to check the full show notes: https://www.biggerpockets.com/blog/money-414 Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Email us: [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoices

Early retirement is possible for almost anyone, no matter where you start or how much you make. If you can sacrifice and save more than you spend, there’s a good chance you could retire years or even decades earlier than the rest. In fact,you can retire early on a median income salary without any retirement savings to start with…but you’ll need to do one crucial thing. As you’ll see from today’s guests, David and Danielle, one smart purchase may have set them up for life! We’re back with another Finance Friday, where we talk to David and Danielle, two median-income earners trying to figure out the right path to early retirement. After Danielle’s sales-based burnout, the couple has been surviving with just one income, cutting it close every month. But, with a return to work on the calendar for Danielle, the chances of financial freedom are looking bright. But where do they go from here? With David and Danielle’s real estate dreams, Scott and Mindy come up with a handful of ways that this couple could use their primary residence to bolster their chances of early retirement and allow them to save a significant amount of money every month. So if you feel like you’re starting over on the path to FIRE and don’t know which move is right, this is an episode for you! In This Episode We Cover How to use your home to retire early and start investing Grocery shopping, food bills, and how to stop eating your money every month Legal fees and accounting for lawyer bills during an ongoing dispute House hacking and living for free while renting out spare space Assumable loans and upgrading your property when you have LOTS of equity 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 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 Podcast Talent Search! Listen to The “On The Market” Podcast: Spotify, Apple Podcasts, BiggerPockets Money Moment House Hacking: A Beginners Guide to Living for Free Grocery Shopping Got a Hold on Your Wallet? Check Out These Episodes: Cutting Your Grocery Bill in Half The Most Efficient Path to Financial Freedom Food Spending Eating Away at Your FI Plans? Here’s How to Eat for Cheap Slash Your Food Budget by $150+ Per Week with EASY, Healthy, and Tasty Meals Click here to check the full show notes: https://www.biggerpockets.com/blog/money-413 Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Email us: [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoices

While the job of a full-time content creator might seem glamorous from the outside looking in, make no mistake—there’s plenty of work involved, and it’s not always easy to get your business off the ground. Our next guest spent years building up her content creation platform while continuing to work her nine-to-five tech job before she made her first six figures! Welcome back to another episode of the BiggerPockets Money podcast! Today, Scott and Amanda are joined by Gabrielle Judge, a content creator and emerging thought leader for the Gen Z workforce. Gabrielle is helping to usher in the next phase of work-life balance with “quiet quitting”—an oft-misunderstood concept that has less to do with being lazy and much more to do with assessing your return on investment (ROI) at work and creating space for your other goals and passions. Whether you’re interested in content creation or tired of working for “the man,” you won’t want to miss out on all that Gabrielle has to share. She offers a handful of top tips on how to cultivate a side hustle so that it one day becomes a full-time job—including credit card stacking to access a large line of credit for new business ventures, becoming a hard money lender, and using Chat GPT to help you leave your current job and land your next one faster! In This Episode We Cover The real meaning of “quiet quitting” and how to set boundaries at work Growing a side hustle and turning it into your full-time job Viewing yourself as a business and evaluating your ROI at work Credit card stacking to access a large, unsecured line of credit How to become a bank for someone else through hard money lending Leveraging Chat GPT to streamline the job application process and get a bigger paycheck And So Much More! Links from the Show BiggerPockets Money Facebook Group BiggerPockets Forums Finance Review Guest Onboarding Join BiggerPockets for FREE Amanda's Instagram 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 Podcast Talent Search! The Real Estate Rookie Podcast Listen to The “On The Market” Podcast: Spotify, Apple Podcasts, BiggerPockets She Wolf of Wall Street Website 10 Tips For Leaving Your 9-5 and Adjusting to Life as an Entrepreneur How to Start a Profitable Side Hustle Start Credit Card Stacking with Fund&Grow Click here to check the full show notes: https://www.biggerpockets.com/blog/money-411 Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Let us know! Learn more about your ad choices. Visit megaphone.fm/adchoices

A debt-free homeowner with an emergency fund and a keen eye for personal finance? A few years ago, Jazmyn Gray wouldn’t have dreamed that’s how her life turned out. From a young age, Jazmyn was thrown into drug addiction, homelessness, a life of crime, and later, prison time. She was a teenage mother whose silver lining was running a successful business until she was robbed, abused, and pushed into relapsing. But that’s not Jazmyn’s whole story. Through some entrepreneurial pursuits behind bars and putting her finances first, Jazmyn has had an almost unbelievable path to recovery. Even after her time in prison, Jazmyn was forced to pay restitution and other debts she had piled up before her incarceration. However, through a chance meeting with none other than our own Scott Trench, Jazmyn was given the master plan she needed to rebuild her financial position, even when the odds were stacked against her. Now, in a completely different position than she was in just a few years ago, Jazmyn is ready to tell her whole story, not only to provide hope to those that need it but give actionable steps to improving your financial life. You’ll hear how she built a six-figure business within a few months, how she recently bought a house with a record low interest rate, the debt snowball method she used to become debt-free faster than most Americans, and how she’s using her rough road to help others build their own wealth. In This Episode We Cover Hitting financial rock bottom and starting your journey when you have nothing Building a six-figure business and what caused Jazmyn to give up hers Homelessness, drug addiction, and fighting to survive as a teenager The “debt snowball” method Jazmyn used to pay off her debt in record time Buying your first home and how to do so only a few years after being dead broke Jazmyn’s easily-repeatable advice for ANYONE starting their financial journey 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 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 Podcast Talent Search! The Real Estate Rookie Podcast Listen to The “On The Market” Podcast: Spotify, Apple Podcasts, BiggerPockets Money Moment From Extreme Poverty to DIY Wealth and 2 Full-Time Incomes 12 Things to Give Up to Become Debt-Free This Year Get Involved with CrossPurpose Click here to check the full show notes: https://www.biggerpockets.com/blog/money-410 Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Let us know! Learn more about your ad choices. Visit megaphone.fm/adchoices

As a first-time home buyer, you may be struggling to make a move. And who can blame you? In 2023, with high mortgage rates and stiff competition, more and more would-be home buyers are staying put as renters—but this could be a big mistake. Even Jay Papasan, executive at Keller Williams and bestselling author, wishes he made his first home purchase faster. It wasn’t until Jay was thirty that he finally pulled the trigger on purchasing a property. He had just moved to Austin, Texas, and bought the worst property in the best neighborhood he could find. Now, a good twenty years later, this property alone has made Jay close to a million dollars, and he thinks today’s homebuyers could be in the same position. So, how do you build wealth when buying your first property? In this episode, Jay walks through what first-time home buyers should be looking for when scouting out houses, the telltale signs of a great (and not-so-great) real estate agent, simple improvements you can make to increase property value dramatically, and what to do with today’s high mortgage rates. Jay also includes a little-known way to lower your mortgage rate on your next home, so you can pay less and profit more when you move out! In This Episode We Cover Why you should NEVER sell your first home (and what you should do instead) How to lower your mortgage rate WITHOUT increasing your cost to close Signs of a great agent and the MOST important trait they must have Easy improvements that will shoot up your home’s value Tracking your net worth and why you MUST know your personal profit and loss Housing horror stories and whether or not your agent needs to tell you about the ghost haunting your kitchen 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 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 Podcast Talent Search! The Real Estate Rookie Podcast Listen to The “On The Market” Podcast: Spotify, Apple Podcasts, BiggerPockets Money Moment Grab the First-Time Home Buyer Book Bundle and Use Code “BPKELLER” at Checkout Putting Yourself in the Best Financial Position as a First Time Home Buyer Big Goals? Here’s How to Get Your Spouse or Partner on Board Becoming a Millionaire Real Estate Investor How to Manage Your Time Like a Millionaire Click here to check the full show notes: https://www.biggerpockets.com/blog/money-409 Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Let us know! Learn more about your ad choices. Visit megaphone.fm/adchoices

Early retirement is the holy grail of financial freedom. With a large enough nest egg, you no longer have to work, giving you the time to spend with your family and friends or do whatever you want. The problem? Hitting financial independence is much easier than most FIRE-chasers think, and achieving their biggest goal comes with unintended consequences. The fact of the matter is, retiring early is a hard choice, and it’s NOT as simple as walking away from your job. Today, we talk to Phil, who’s bringing in a large salary and doing a job he loves but wants to take more time off work to be around his growing family. Phil has reached financial freedom. He has plenty of money in his retirement accounts, a short-term rental property portfolio paying him a median-income salary, and lots of cash on hand in case he runs out. He’s also got a job that makes him a stellar salary and has the flexibility to allow him to increase or decrease his shifts as he sees fit. Phil has done it. He’s found financial freedom and built a fortress of assets to hold up his lifestyle for the rest of his life.But, the idea of walking away from work is stopping him from taking the time off that he needs. With such high pay and work that gives him meaning, how can Phil slowly start stepping away from work without sacrificing his identityor ability to help others? This is a struggle for many who have hit financial independence, and you, too, may face the same dilemma in the not-so-distant future! In This Episode We Cover Building multiple income streams so you can reach financial freedom faster Giving up the high-pay of a skilled job to spend more time with your family When to pay off your properties and whether living mortgage-free is worth it Transitioning out of a career and why stepping away from work is more complicated than it seems Building your ideal post-FI life (even if that means working!) The “middle-class trap” and why over-investing in retirement could be a mistake 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 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 Podcast Talent Search! The Real Estate Rookie Podcast Listen to The “On The Market” Podcast: Spotify, Apple Podcasts, BiggerPockets Money Moment Mr. Money Mustache on Life After FI: The Truth About Retiring Early How to Avoid the “Middle Class Trap” When Building Wealth The “Deathbed Toolkit” That Makes Building Wealth Much More Enjoyable w/Doc G Grab Your Copy of “Taking Stock: A Hospice Doctor's Advice on Financial Independence, Building Wealth, and Living a Regret-Free Life Click here to check the full show notes: https://www.biggerpockets.com/blog/money-408 Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Let us know! Learn more about your ad choices. Visit megaphone.fm/adchoices

Think it might be too late for you to enjoy the spoils of real estate investing? Well, you’d be wrong! Regardless of age, background, or financial circumstances, it’s never too late to switch careers and become a real estate investor. Just ask today’s guest! In this edition of the BiggerPockets Money podcast, we’re joined by Evan Miller, who was a bright-eyed, bushy-tailed US Air Force cadet when he first took an interest in real estate. It wasn’t long before his childhood dream of becoming a pilot was ousted by the entrepreneurial pull of building his own real estate empire. Although his journey included a stint in intelligence and a pit stop as a certified financial planner, Evan has managed to create a portfolio of eight properties over the last eight years. In today’s episode, Evan shares his entire story from start to finish, including his frugal upbringing, his time at the academy, and his journey towards becoming a full-time real estate investor. As always, our trusted hosts Mindy and Scott are along for the ride. Tune in as we demystify a handful of money-related topics—qualifying for real estate professional status (REPS) and its enormous tax benefits, finding exclusive deals through assumable loans, and flipping houses for a profit—even in a bad housing market! In This Episode We Cover How to seamlessly transition from your current vocation to a career in real estate The value of frontloading depreciation when building your real estate portfolio Assumable loans and how to find HUGE deals in military markets How to flip houses at a profit in a volatile housing market Real estate professional status (REPS) tax benefits (and how to qualify!) The opportunities that come from surrounding yourself with other real estate investors 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 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 Podcast Talent Search! The Real Estate Rookie Podcast Listen to The “On The Market” Podcast: Spotify, Apple Podcasts, BiggerPockets Money Moment Episode 217: 16 Units in 3 States as a BiggerPockets Power Couple Working Full-Time Grab “The Book on Investing in Real Estate with No (and Low) Money Down Tax Day Q&A: Live CPAs Help YOU Owe Less To the IRS Year-End Tax Tips and How to Owe Even Less in 2023 Try the BiggerPockets Calculators: Mortgages Rental Calculator Rental Estimator Click here to check the full show notes: https://www.biggerpockets.com/blog/money-407 Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Let us know! Learn more about your ad choices. Visit megaphone.fm/adchoices

The road to early retirement isn’t easy. Once you become dead-set on finding financial freedom, your entire world turns upside down. For many of us, this means spending as little as possible, ditching takeout, saying goodbye to expensive events, and becoming a frugal hermit in our own financially-focused worlds. But, this can lead to serious burnout since a life without fun is a hard life to live. Today, we talk to Sam, who’s feeling his own type of frugal fatigue. Sam was blindsided by a sudden divorce, separating him from his daughter and prompting him to restart his career. He went the unconventional route, getting his pilot’s license and slowly building up his income. But, switching from stay-at-home dad to breadwinner in an instant left a mental mark on Sam. As a result, he’s kept an extremely lean budget, even as his income has grown into six figures. He’s doing a phenomenal job on the path to early retirement, but with time freedom in sight, Sam is still struggling to live life in the present moment instead of always focusing on the future. In this Finance Friday episode, Mindy and Scott walk through paying off unconventional student debt, building a financial runway, the difference between being frugal and cheap, and whether house hacking vs. renting is the right move in this housing market. They’ll also chat over employee stock purchase programs and investing for early retirement, all while making dozens of pilot puns along the way! In This Episode We Cover Investing for early retirement and what to focus on to hit financial freedom Being frugal vs. cheap and whether your FIRE obsession is making life harder Student loan debt and when selling investments makes sense House hacking and using extra space in your home to make more money Building your “financial runway” and when it’s time to reallocate your investment portfolio Employee stock purchase programs and the GUARANTEED profit you’ll make 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 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 Podcast Talent Search! Subscribe to The “On The Market” YouTube Channel Listen to The “On The Market” Podcast: Spotify, Apple Podcasts, BiggerPockets Money Moment Scott Trench’s Step-by-Step Guide to Building Your Perfect, 1-Page Investment Plan Why You Don’t Need to Sacrifice Everything to Hit Financial Freedom How to Get to Early Retirement Even Faster Click here to check the full show notes: https://www.biggerpockets.com/blog/money-406 Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Let us know! Learn more about your ad choices. Visit megaphone.fm/adchoices

Healthy meals that taste great AND save you money? Surely, you can’t have all three! Today’s guest would beg to differ. After deciding roughly six years ago to embrace a healthy lifestyle, she made it her personal mission to find clean recipes that were equally affordable and flavorful. Today, she saves roughly $150 - $200 on her grocery bill each week! Welcome to a special bonus episode of the BiggerPockets Money podcast. Today, our hosts Mindy and Scott pick the brain of Jenn Lueke, a food blogger who teaches people how to curb their monthly food spend and prepare healthy, craveable dishes that keep food exciting. Have you always wanted to improve your diet without breaking the bank or spending countless hours in the kitchen? Do you wish that healthy choices tasted a little better? Tune in as Jenn talks about how she plans and preps all of her meals ahead of time, sticks to a tight grocery budget even amidst inflation or an economic downturn, and keeps all of her food organized in a one-bedroom apartment. You’ll even learn about her top budget-saving foods, go-to one-pan recipes, and favorite places to shop! In This Episode We Cover How to save on your grocery bill ($150 or more!) each week The best ways to optimize food storage with limited space Finding easy, cheap, and healthy recipes that become household staples How to plan and prep meals for HUGE time savings When to buy organic produce instead of conventional Shopping seasonally to take advantage of lower prices (and fresher produce!) 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 Podcast Talent Search! Subscribe to The “On The Market” YouTube Channel Listen to The “On The Market” Podcast: Spotify, Apple Podcasts, BiggerPockets Money Moment Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Let us know! Learn more about your ad choices. Visit megaphone.fm/adchoices

The formula to build wealth isn’t complicated. Most American millionaires have figured it out, and you might have as well. It’s safe to say that almost every wealthy American has followed these three steps that lead to a life of riches. If you follow the same path, you, too, can end up with financial independence, early retirement, and generational wealththat will propel your family forward. But, even though these steps are simple, most Americans can’t or won’t follow them. Joining us in the fight to help every American reach financial freedom are Brian Preston and Bo Hanson from The Money Guy Show. Brian and Bo both boast numerous financial acronyms after their names. As licensed financial professionals (CPAs, CFPs, PFSs, CFAs), it’s fair to say that they know their way around a portfolio. They’ve been helping their clients and podcast listeners build wealth no matter what stage of life they’re in. And their newest study on millionaires has illuminated some surprising takeaways. In today’s show, Brian and Bo break down EXACTLY what millionaires are doing that average Americans aren’t, the three core principles you MUST follow to build wealth, diversification vs. concentration, and whether or not real estate should be a part of your portfolio. So whether you just got your first job, are nearing retirement, or hover somewhere in between, Brian and Bo give actionable advice you can take away to not only build wealth but keep it for generations to come! In This Episode We Cover The three core principles you MUST follow to build wealth and become a millionaire Self-made riches and the surprising facts about starting from SCRATCH How to protect your generational wealth after you’ve made it Why those that reach financial independence rarely choose to retire early Diversification and whether your business, home, or stock portfolio owns too much of your wealth The right way to invest in real estate for early retirement (and when it’s TOO risky) Rising interest rates and how this will affect those pursuing financial independence 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! Subscribe to The “On The Market” YouTube Channel Listen to The “On The Market” Podcast: Spotify, Apple Podcasts, BiggerPockets Money Moment Listen to “The Money Guy Show” Download the Financial Order of Operations Work with Brian and Bo Click here to check the full show notes: https://www.biggerpockets.com/blog/money-404 Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Let us know! Learn more about your ad choices. Visit megaphone.fm/adchoices

Financial freedom vs. family time. If done correctly, you can have both; but living the best of both worlds is impossible without sacrifice. For new parents, switching from a dual-income household to a single full-time income overnight can be a hard burden to bear. With less money comes lower retirement accounts, a longer time horizon to being debt-free, and financial freedom pushed years, or even decades, away. So, is being a stay-at-home parent worth the financial sacrifice? On this Finance Friday, we talk to Patrick, who recently became a new dad (woohoo!). His wife has taken on the full-time job of being a stay-at-home mom, but with a massive amount of debt hanging over their heads, Patrick is debating whether or not returning to dual income is the right move to make. Not only is this choice a financial one, it’s also an extremely personal debate, as many parents would far rather spend their time with their kids than bring home a bigger paycheck. And while we can’t tell Patrick what to do next, Mindy and Scott can offer the financial options he and his wife NEED to know about. But we’re not just talking about student loan debt in this episode. We also get into whole life insurance policies, HELOCs (home equity lines of credit), car loans, and whether or not buying rental properties is the right move for a new parent. You may be in Patrick’s position soon (if not already), and this topic is one you CANNOT afford to miss if you’re building wealth while raising a family! In This Episode We Cover Student loan debt and what you MUST do to become debt-free Whole life insurance policies and whether they’re worth the high monthly premiums The true cost of college and what to know BEFORE you finance your degree Rental property headaches and when real estate investing may NOT be the right move Ditching dual income to become a stay-at-home parent and who is in the position to do so Reaching financial freedom as a new parent and the sacrifices you MUST make to retire early 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! Subscribe to The “On The Market” YouTube Channel Listen to The “On The Market” Podcast: Spotify, Apple Podcasts, BiggerPockets Money Moment The Money Date: What You Should (And Definitely Should Not) Do to Align Your Finances as a Couple Finance Friday: How to Become Debt-Free 20 Years Faster Than You Thought Is College Worth the Cost? This 30,000 Variable Study Says “Sometimes…” Why 40% of Master’s Degrees Aren’t Worth It (and Which Are) w/Preston Cooper Should You Pay Down Student Debt or Start Investing? Click here to check the full show notes: https://www.biggerpockets.com/blog/money-403 Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Let us know! Learn more about your ad choices. Visit megaphone.fm/adchoices

Tax season is a nerve-racking time for many, especially for those who don’t have simple tax returns. If you’re a real estate investor, you need top-notch tax advice if you hope to reap the best tax savings when filing—legally, of course. And that’s exactly what we’ve got for you today! Welcome back to another episode of the BiggerPockets Money podcast. Ahead of this year’s tax deadline, we’ve brought in reinforcements to answer all of your burning tax questions. Today’s guests are Kyle Mast, fee-only certified financial planner (CFP) and real estate investor, and Natalie Kolodij, real estate tax strategist and IRS enrolled agent. In this episode, they use their collective tax expertise and perspectives to tackle a handful of key topics. Ever wondered whether there are different tax benefits when buying a property in cash rather than via a traditional home loan? If you’re in a partnership on a short-term rental property, how do you claim depreciation? What is a cost segregation study, and when should you do one instead of taking depreciation deductions over the normal timeline? As always, our trusted host Mindy chimes in with some important nuggets to help make your journey toward financial freedom that much easier (while owing less to Uncle Sam)! In This Episode We Cover Tax benefits of buying a property in cash versus getting a loan The “2-out-of-5-year” rule that allows you to avoid HUGE capital gains taxes How to claim depreciation deductions in an investing partnership The pros and cons of cost segregation studies and normal depreciation deductions Why you NEED to hire a real estate tax strategist (and how to find one!) How to set up your business entity for the best real estate tax savings And So Much More! Links from the Show BiggerPockets Money Facebook Group BiggerPockets Forums Finance Review Guest Onboarding Connect with Mindy on BiggerPockets Mindy's Twitter Kyle’s Website Clarity Financial Kyle’s Twitter Listen to All Your Favorite BiggerPockets Podcasts in One Place Apply to Be a Guest on The Money Show Podcast Talent Search! Subscribe to The “On The Market” YouTube Channel Listen to The “On The Market” Podcast: Spotify, Apple Podcasts, BiggerPockets Money Moment Get Tax Professional Recommendations from Other Investors The Biggest Real Estate Tax Loophole You’ve (Probably) Never Heard Of Year-End Tax Tips and How to Owe Even Less in 2023 2023 Real Estate Taxes: Write-Offs, Loopholes, and How to Pay Less Next Year Click here to check the full show notes: https://www.biggerpockets.com/blog/money-402 Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Let us know! Learn more about your ad choices. Visit megaphone.fm/adchoices

How important are beneficiary designations? What happens if you die without a will? What are intestate succession laws? Death is a subject that most people want to avoid, especially when it intersects with finances. Unfortunately, these are necessary questions to ask, as your legacy is at stake, and taking just a few hours to plan could save your family thousands of hours after you pass. When guest and long-time friend Renee received the call that her husband of nine years had passed unexpectedly, she was left to deal with not only her own grief but also the financial implications of her husband’s death. While the two had discussed death and finances on multiple occasions, little did they know that a common financial error would create a logistical nightmare—one that would lead to ongoing legal battles and fractured relationships. In today’s episode, Renee joins us to tell her story and stress the importance of planning for the unexpected. We cover things like beneficiary designations, wills, living trusts, and intestate succession laws. Renee also shares the three steps you MUST take to avoid having a post-passing financial nightmare. As always, our hosts Mindy and Scott are here to share some invaluable advice you won’t want to miss! In This Episode We Cover How a few hours of end-of-life planning could save your next of kin thousands of hours Why beneficiary designations are king for all financial assets Intestate succession laws and what happens when you die without a will When others may have a legal claim to assets over a spouse How relationships are impacted by the financial implications of your passing The three steps you MUST take to get your assets in order before you die And So Much More! Links from the Show BiggerPockets Money Facebook Group BiggerPockets Forums Finance Review Guest Onboarding Scott's Instagram Mindy's Twitter Listen to All Your Favorite BiggerPockets Podcasts in One Place Apply to Be a Guest on The Money Show Podcast Talent Search! Subscribe to The “On The Market” YouTube Channel Listen to The “On The Market” Podcast: Spotify, Apple Podcasts, BiggerPockets Getting Financially “Naked” with Your Significant Other — With Erin Lowry from Broke Millennial (Episode #24) Estate Planning, Wills, and What to Do NOW to Protect Your Heirs w/Jordan Klint (Episode #395) Get Your Family Emergency Binder The Easiest Way to Create a Will Click here to check the full show notes: https://www.biggerpockets.com/blog/money-401 Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Let us know! Learn more about your ad choices. Visit megaphone.fm/adchoices

Being able to retire early is a blessing and a curse. When you first start working a job, all you can think of is escaping your everyday responsibilities. The mind-numbing tasks, the early mornings, late nights, horrible bosses—it all adds up. But, you then find the “financial independence, retire early movement (FIRE),” and almost overnight, you decide that your future will be dedicated to setting yourself financially free. You develop skills that help you make more at your job, feeding into bigger, better investments. And as a result, you end up being in a better position, at a more respectable job, earning more than you thought possible, and enjoying the challenge of everyday work. This is precisely what happened to your hosts, Mindy Jensen and Scott Trench. Both started at jobs they didn’t love, wanting to be financially free. Through hard work and skill-building, Mindy and Scott were brought together, prompting them to start the BiggerPockets Money Podcast and build a company they both love. Now financially free, Mindy and Scott refuse to retire early for a good reason. In this special four-hundredth episode, Mindy and Scott share their money stories, how they found the FIRE movement, what they did with their money, and why they choose to work, even though they don’t have to. If you want to know the real reason behind Scott and Mindy’s skyrocketing success, stick around because their stories are much more repeatable than you may think. In This Episode We Cover The origins of the BiggerPockets Money Podcast and how risky investing prompted a powerful podcast The index fund vs. individual stock-picking debate and why Mindy started to shift her portfolio How Mindy and Scott found the FIRE movement and how they both quickly reached financial independence Becoming a CEO and why Scott’s “don’t ask for a raise” philosophy paid off BIG time Choosing to work instead of retiring early and why a meaningful livelihood beats a relaxing early retirement The simple but profound moves Scott made to triple his net worth in just a few years And So Much More! Links from the Show BiggerPockets Money Facebook Group BiggerPockets Forums Finance Review Guest Onboarding Scott's Instagram Mindy's Connect with James Listen to All Your Favorite BiggerPockets Podcasts in One Place Apply to Be a Guest on The Money Show Podcast Talent Search! Subscribe to The “On The Market” YouTube Channel Listen to The “On The Market” Podcast: Spotify, Apple Podcasts, BiggerPockets Money Moment Mr. Money Mustache's article 1,500 Days Breaking the Taboo of Talking About Money with Friends, Family, and Bosses How to Change Your Financial Life with a Money “Reset” Margin Loans: Low-Interest Lending or Risky Rates? Mindy's First Episode: Jump Starting Your Early FI Plans by Live-in Flipping Scott’s First Episode: An All-Out Approach to Financial Independence at an Early Age Click here to check the full show notes: https://www.biggerpockets.com/blog/money-400 Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Let us know! Learn more about your ad choices. Visit megaphone.fm/adchoices

Want to retire early in your 30s? Early retirement may be closer than you think. With smart money moves, intelligent investments, and the ability to save more than you spend, you could trade forty-hour work weeks for full days with your family. But, before you do, you’ll need to set yourself up with some killer cash flow, so your assets can pay for your lifestyle while you sit back and enjoy ultimate time freedom. This is exactly what Jenny Bayless did over the past ten years. After college, Jenny was able to score a well-paying job but realized only a few months in that the “work for forty years, retire at sixty-five” plan wasn’t worth the grind. So, shestarted aggressively saving, doing whatever she could to get into her first property. From there, she stumbled upon the BRRRR strategy of real estate investing, allowing her to recycle her cash to buy more properties in far less time than it took to save up for a down payment. In this episode, Jenny explains precisely how this method led her to financial freedom, what FIRE-chasers in 2023 can do to retire even earlier, and why EVERYONE should have a financial exit plan, no matter how much they love their work. Jenny’s repeatable system to financial freedom through real estate isn’t as complicated as you might think, and she gives three crucial tips that, when followed, will lead to FIRE even faster! In This Episode We Cover How to retire in ten years (or less!) by using the BRRRR investing method Leaving your W2 and how to know it’s the right time to walk away from a paycheck Three tips ANYONE can follow to hit financial freedom faster “Failing forward” and why those that make mistakes are the ones who get ahead Cash-out refinances and how to recycle your down payment funds to buy more property Life after FIRE and why you’re still allowed to make money even when retired early And So Much More! Links from the Show BiggerPockets Money Facebook Group BiggerPockets Forums Finance Review Guest Onboarding Scott's Instagram Connect with James Listen to All Your Favorite BiggerPockets Podcasts in One Place Apply to Be a Guest on The Money Show Podcast Talent Search! Subscribe to The “On The Market” YouTube Channel Listen to The “On The Market” Podcast: Spotify, Apple Podcasts, BiggerPockets Money Moment Meet Scott and James at BPCon2023 Grab The Book on “Investing in Real Estate with No (and Low) Money Down” Click here to check the full show notes: https://www.biggerpockets.com/blog/money-399 Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Let us know! Learn more about your ad choices. Visit megaphone.fm/adchoices

For so long, early retirement has been THE goal of those chasing financial independence. Can you imagine waking up with unlimited time, not having to work, and reporting to no one but yourself? Now imagine that day in and day out. Before long, the luster of never working gets to you, and that's because if you've achieved financial independence, the regular type of "retirement" just won't work. But what if you could restart your career, do something you REALLY cared about, or build your dream business? Jill Schlesinger, author of The Great Money Reset: Change Your Work, Change Your Wealth, Change Your Life, has redefined what FIRE should mean. Instead of financial independence, retire early, she's opting for financial independence, new endeavor. Now, those skills you've been building for decades can be put to good use, working how much you want, for who you want, and doing what you want. But what if you're not at financial independence yet? What if you're stuck feeling miserable in a job, slogging your way to retirement? Jill suggests performing a "money reset." Through a five-step system, you'll see where you stand financially, what's important to you, and how to change your life entirely so you can stop doing what you must and start doing what you love. Whether you're retired, retired early, on the path to FI, or don't know where to start, Jill's money thoughts will rock your financial world. In This Episode We Cover Why you (probably) AREN'T pursuing your dreams, and whether money is REALLY the issue Resetting your career and why it's a smart move to make MULTIPLE times in life The FINE alternative to the FIRE movement, and why working after early retirement is a blessing, not a curse The 'Fabulous Five" that will give you an overall picture of your financial health and money wealth How to perform a "money reset" no matter what stage you're at in life (or how much money you have) And So Much More! Links from the Show BiggerPockets Money Facebook Group BiggerPockets Forums Finance Review Guest Onboarding Mindy's Twitter Henry's BiggerPockets Profile Henry's Instagram Listen to All Your Favorite BiggerPockets Podcasts in One Place Apply to Be a Guest on The Money Show Podcast Talent Search! On The Market Subscribe to The “On The Market” YouTube Channel Listen to The “On The Market” Podcast: Spotify, Apple Podcasts, BiggerPockets Check Out Mindy’s 2022 Live Spending Tracker and Budget Money Moment Click here to check the full show notes: https://www.biggerpockets.com/blog/money-398 Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Let us know! Learn more about your ad choices. Visit megaphone.fm/adchoices

Financial freedom allows you to do what you want, when you want, and with who you want. But it’s not just for lounging in hammocks or jet-setting around the world. When tragedy strikes, a sudden loss occurs, and you need time to spend with your family, friends, and loved ones, financial freedom becomes the bedrock of what helps you recover. This is why the option to retire early is so crucial for the everyday American; you never know when you’ll need to take some time for yourself. Jordan Klint, former guest on episode sixty-three, achieved financial freedom at a surprisingly young age, with five children to boot! His time freedom and ability to live on his terms was an added bonus the last time we talked to him, but now, we understand that it was necessary for Jordan to keep sane during the past year. Jordan’s family went through a significant tragedy, resulting in the loss of not one but multiple relatives all at once. This was an incredibly hard time for Jordan and his family but has allowed him to reflect on what FIRE-chasers need to do to ensure their families are protected when they pass. While this episode does bring up some difficult points, it’s full of extremely useful tips that Jordan used to get his family’s finances together. We get into estate planning, why you need a will, life insurance, car insurance, and the “emergency binder” that EVERYONE should have. Don’t wait until the unexpected happens. If you’re building wealth, you NEED to put these plans in place. In This Episode We Cover Estate planning 101 and why trusts, wills, and other documents can protect your family’s wealth Self-care, mental health, and why investing in your friends is so important Life insurance and why buying a policy is crucial for family members who rely on you Financial planners and how to use their expertise to help you structure an after-passing plan Early retirement and how Jordan was able to take time to recover and recharge Jordan’s post-retirement portfolio and how he’s spending his days after reaching financial freedom And So Much More! Links from the Show BiggerPockets Money Facebook Group BiggerPockets Forums Finance Review Guest Onboarding Mindy's Twitter Listen to All Your Favorite BiggerPockets Podcasts in One Place Apply to Be a Guest on The Money Show Podcast Talent Search! Subscribe to The “On The Market” YouTube Channel Listen to The “On The Market” Podcast: Spotify, Apple Podcasts, BiggerPockets Check Out Mindy’s 2022 Live Spending Tracker and Budget Money Moment Hear Our Last Episode with Jordan Everything You Need to Know BEFORE You Invest in Syndications Grab the “Emergency Binder” Click here to check the full show notes: https://www.biggerpockets.com/blog/money-397 Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Let us know! Learn more about your ad choices. Visit megaphone.fm/adchoices

You want to retire early, but odds are, you think that you can’t. Whether it’s a high-stress job, a business that requires your full attention, or just the belief that you MUST be working, most Americans don’t think they can regain their time freedom. But most people don’t know about “lifestyle investing.” Instead of trying to be the wealthiest investor with the biggest house, fastest car, and most money in the bank, lifestyle investing asks, “what do you TRULY need to be financially free?” And there’s no one better to answer this question than Justin Donald, author of The Lifestyle Investor: The 10 Commandments of Cash Flow Investing for Passive Income and Financial Freedom. Justin redefined what it means to be rich by focusing on time, not money, as the most important metric. He went from working as a stressed-out business owner to having complete time and financial freedom simply by putting the lifestyle he wanted before everything else. And he has a lot to teach those of us that have yet to hit financial independence. Today, Justin will define some of his cash flow commandments, explain why passive income is the most essential investment you can make, and detail how to start living a proactive, not reactive, lifestyle. No matter where you’re at financially, this shift in understanding will help you build the life you love, WITHOUT creating more tasks for yourself to take care of! In This Episode We Cover Lifestyle investing explained, and why time freedom is far more important than money How to find out whether you run your business or your business runs you The ten commandments of passive cash flow and where to find it Real estate investing and other income streams EVERYONE should know about Diversification vs. concentration and which builds wealth faster De-risking your investments and how to get money out of any deal your enter And So Much More! Links from the Show BiggerPockets Money Facebook Group BiggerPockets Forums Finance Review Guest Onboarding Mindy's Twitter Jamil's Profile Listen to All Your Favorite BiggerPockets Podcasts in One Place Apply to Be a Guest on The Money Show Podcast Talent Search! Subscribe to The “On The Market” YouTube Channel Listen to The “On The Market” Podcast: Spotify, Apple Podcasts, BiggerPockets Check Out Mindy’s 2022 Live Spending Tracker and Budget Money Moment 12 Ways To Make Passive Income From Real Estate Investing Click here to check the full show notes: https://www.biggerpockets.com/blog/money-396 Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Let us know! Learn more about your ad choices. Visit megaphone.fm/adchoices