BiggerPockets Money

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BiggerPockets Money 301 - Why You’re (Probably) Wrong About Prenups

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Grab Scott and Mindy’s Book, “First-Time Home Buyer”

BiggerPockets Money 607 - Has the FIRE Formula Changed? Why 100% Index Funds Isn’t the Answer

(00:00) Intro

(01:47) Super Frugality and FIRE Goals

(04:57) Spending and Blind Spots

(08:42) Getting a Prenup

(12:08) Financial Planning Dates

(17:08) Goal Setting 101

(24:57) Scott Goes Coconuts

(321:05) Selling Index Funds

(35:49) Grab Virginia’s Book!

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Teacher Retires Early at 45 Thanks to Strategic Living (FIRE in Paradise!) Feb 25, 2025

Show notes

Teachers aren’t known for their high salaries, so how did this one reach early retirement and FIRE at just 45 years old? Through “aggressive” saving and smart cost-of-living choices, Amy Minkley was able to quit her demanding international teaching job only three years after finding out about the FIRE movement. Now, she spends her days living in paradise and hosting “FI Freedom Retreats” once or twice a year for like-minded FIRE-chasers.

To reach FIRE in your 40s, you must make some strategic moves like Amy. Thankfully, you don’t need to make six figures to retire early in 2025. Throughout Amy’s career, she never entered the “high income” threshold but could still save aggressively, thanks to the perks of teaching at international schools. We’re talking free rent, subsidized travel, and plenty of paid vacation.

But it wasn’t always the dream life that it sounds like. Amy had constant stress and was routinely feeling burned out, forcing her to take multiple sabbaticals, change where she lived, and deal with some of the money trauma that had plagued her past. Now, she’s FIRE, thriving, and living entirely on her terms. You can (and should) do it, too!

In This Episode We Cover

How to reach FIRE in your 40s even if you feel like it’s too “late” for you

Why teachers should look into teaching abroad to save a significant portion of their income

Investing from abroad and what to do when you have little-to-no social security contributions

How much cash you should keep on hand when you’re ready to retire early

Living off the three percent rule (instead of the traditional four percent rule) by moving to low-cost-of-living areas

Why you must take a sabbatical at least once in your working career

And So Much More!

Links from the Show

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Connect with Amy

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Finance Friday: Chasing FIRE by 35 WHILE Supporting Extra Family Members Feb 21, 2025

Show notes

Is something stopping your FIRE? Today’s guest wants to retire early at 35, but with a shaky budget, extra expenses, and a problematic rental property, her path to early retirement isn’t clear. In today’s episode, we’ll break down her finances and help her get back on track!

Welcome back to the BiggerPockets Money podcast! Sarah earns a great salary and diligently saves for retirement each month. You’d think she’s on pace to leave her W2 job in a few years, but there’s one problem—she has more expenses than the average person. Financially responsible for two extra family members, Sarah pays for their mortgage, food, and lifestyle, all while covering her own expenses!

Does Sarah’s financial situation need a major shake-up? Tune in as Scott and Mindy debate whether it’s time for Sarah to part with a property that’s bleeding money, strategize about when to put it on the market, and discuss what to do with the money from the sale. We’ll also touch on the tough conversations Sarah needs to have with family members if she wants to achieve her retirement goal!

In This Episode We Cover

The three things Sarah must do to achieve her goal of FIRE by 35

How to reach your financial goals despite extra expenses

What to do with a rental property that has negative cash flow

The BEST time to put an investment property on the market

How to budget for future children (family planning 101!)

And So Much More!

Links from the Show

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Email Scott: Scott@biggerpockets.com

Find Investor-friendly Tax and Financial Experts

Maximize Your Real Estate Investing with a Self-Directed IRA from Equity Trust

Achieve FIRE with Scott’s Book, “Set for Life”

BiggerPockets Money 12 – How to Become an “Overnight” Success in 10 Short Years with David Greene

Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-609

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CPA Shares Tax Tips to Lower Your 2024 (Yes, 2024) Taxes Feb 18, 2025

Show notes

2024 may be long gone, but it’s NOT too late to lower your taxes for the previous year. If you have real estate or retirement accounts, you already hold the key to minimizing your taxable income and owing less to Uncle Sam. But how do you do it? We’re sharing 2024 and 2025 top tax reduction strategies in today’s show with expert CPA and real estate investor Amanda Han!

Do you know about the real estate tax “loophole” that helps everyday investors cut their taxable income by tens of thousands? Got an employer-contributed retirement plan? You could STILL use it to lower your 2024 taxes! And why should you NOT take the standard deduction if you’ve bought a home in the past few years? We’re answering all of these questions so you can keep more of your hard-earned money.

Finally, what audit red flags is Amanda seeing with her clients? There’s one easily avoidable audit trap that MANY Americans are falling into that could take just minutes to circumvent. Should we even be talking about income taxes if President Trump plans to eliminate them? Amanda, Mindy, and Scott are sharing their opinions on whether this will reach fruition.

In This Episode We Cover

How to save on your 2024 tax bill and moves to make before Tax Day 2025

The easily avoidable audit red flag that Amanda has seen spike lately

The real estate tax deduction that could save those earning $150K or less tens of thousands

Most commonly missed tax write-offs that many Americans can take but forget about

Will President Trump abolish income taxes during his second term?

Whether to pay your estimated taxes OR invest instead and take the interest hit

And So Much More!

Links from the Show

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Find Investor-friendly Tax and Financial Experts

Buy Amanda’s Book, “The Book on Tax Strategies for the Savvy Real Estate Investor”

Find Investor-Friendly Lenders

Tax Audit Tips

Connect with Amanda

(00:00) Intro

(00:56) You Can STILL Save on 2024 Taxes

(05:54) Lowering Your Taxable Income

(10:27) You Can STILL Contribute for 2024!

(14:22) Estimating Your Taxes

(16:22) Itemizing vs. Standard Deduction

(18:21) Commonly Overlooked Write-offs

(21:41) Audit Red Flags!

(23:06) Will Tax Rates Rise or Fall?

(28:03) Opportunity Zones Have Changed

(31:08) How to Prepare for 2024/2025

(35:15) Connect with Amanda!

Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-608

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Has the FIRE Formula Changed? Why 100% Index Funds Isn’t the Answer Feb 14, 2025

Show notes

Is a 100% index fund portfolio no longer the FIRE formula? The market has changed, and maybe your portfolio allocation needs to change with it. With index funds at all-time-high prices and price-to-earnings ratios at an eye-watering 29, you might be feeling a bit worried about whether your FIRE will last or you’ll even make it to FIRE in the first place. You’re not crazy; Scott is feeling the same way, too.

Recently, Scott decided to make a move much of the FIRE community would protest—he sold 40% of his index fund portfolio to reallocate to real estate. Why did he do it now, even as a strong index fund believer? On the other hand, why is Mindy sticking with her stock and index fund portfolio, ready to ride out whatever potential market downturn could be coming our way?

Scott explains, in detail, why real estate is a better choice for him at the moment, the reason prudent FIRE chasers should question the conventional wisdom of a 100% index fund portfolio, and why his new rental property could act as a hedge against a significant market downturn. If Scott is selling his index funds, should you?

In This Episode We Cover

The historical price-to-earnings ratios making index funds a riskier bet

How holding 100% index funds could throw your FIRE off by a decade

The optimal portfolio for retiring early on the four percent rule

Is real estate a safer bet than stocks in 2025?

Real estate cash flow vs. selling stocks for income and why one is much easier to actualize

And So Much More!

Links from the Show

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Get Early Access to Real Estate’s Biggest Event of the Year, BPCON2025

Personal Finance Club

Get to FIRE Faster with “Set for Life”

BiggerPockets Money 599 - The Macro Analysis is Clear: Why We Are Reallocating (Away From Stocks) to Real Estate in 2025

Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-607

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The Points Guy's Travel Hacking Tips to Fly for FREE in 2025 Feb 11, 2025

Show notes

Travel hacking allows you to fly and travel for free, often in luxury, without spending tens of thousands of dollars on flights or hotels. So, how do you do it without managing thirty different credit cards in your wallet? Brian Kelly, AKA The Points Guy, world-renowned travel hacking expert and author of the new book How to Win at Travel, is here to show you as we rapid-fire our top credit card rewards questions at him.

In this show, you’ll learn how to fly to Europe, Asia, and beyond for FREE, even in business class, all by spending the same amount of money you typically would every month. These cards can turn your weekly grocery run into free flights, hotel stays, cashback, and more, plus give you huge perks like airport lounge access, travel protection, and even a credit to spend on your next trip. Love free money? This is how you get it.

Plus, we’re asking The Points Guy what cards he has in HIS wallet, what he spends on which card, and why he does NOT recommend staying loyal to a specific airline, even if you travel often. These tips alone could save you thousands of dollars this year while turning your economy seat into a lie-flat first-class experience. Don’t let your money go to waste; start travel hacking!

In This Episode We Cover

How to travel for free by spending money on groceries, eating out, and business expenses

The Points Guy’s three favorite credit cards that everyone should keep in their wallet

Why you (probably) shouldn’t stay loyal to a specific airline, even if you have their credit card

Why Chase points can get you even MORE free travel than American Express points

Evaluating annual credit card fees and whether a $300+/year credit card is worth it

Best credit cards for renters and those who live a frugal lifestyle (but still want to travel!)

And So Much More!

Links from the Show

Listen to All Your Favorite BiggerPockets Podcasts in One Place

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Email Scott: Scott@biggerpockets.com

Get Early Access to Real Estate’s Biggest Event of the Year, BPCON2025

Point.me

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Learn to Save and Spend the Right Way with “Set for Life”

How to Earn Free Vacations With Travel Rewards Credit Cards

(00:00) Intro

(01:39) Travel for FREE!

(06:06) Best Credit Cards for Beginners

(13:48) Annual Fees

(17:56) Brian’s Favorite Credit Cards

(20:51) Airline and Hotel Partner Cards

(27:49) Keeping Track of Cards

(29:34) Best First Card?

(31:21) Cards for Low-Spenders

(34:03) Inheriting Points?

(36:52) WIN at Travel!

(39:01) Get Your Points!

Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-606

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The 4% Rule Naysayers Are Wrong (We Retired at 47 Using It!) Feb 07, 2025

Show notes

Does the four-percent rule actually work? On paper, yes. So why don’t more people put it to the test? Today’s guest retired at forty-seven years old and is living proof that the math really does check out. Stay tuned to find out how!

Welcome back to the BiggerPockets Money podcast! Bobby Beck has done what so many in the FIRE community are seemingly unable to do—he actually retired on the four-percent rule! What’s more? He did it while living in the Bay Area, one of the most expensive markets in the US. What gave him the confidence to leave his job and never look back? While “One More Year Syndrome” keeps many people from retiring early, Bobby’s mantra of “take a year” compelled him to take a leap of faith. Even though his retirement portfolio took a sixteen-percent hit right before he retired, he weathered the storm, and sure enough, the market rebounded!

Now, Bobby lives the life people dream of when they discover FIRE. He has a comfy lifestyle, travels multiple times a year, and only checks his portfolio once a month. If you need the motivation to call time on your career and put your retirement date on the calendar, you don’t want to miss this episode!

In This Episode We Cover

How Bobby and his wife retired on the four-percent rule (at age 47!)

Why the FIRE community overestimates how much they’ll owe in taxes

How to beat “One More Year Syndrome” and actually retire early

Growing your brokerage accounts and cash to avoid the middle-class trap

The portfolio allocation that will give you the confidence to retire

And So Much More!

Links from the Show

Listen to All Your Favorite BiggerPockets Podcasts in One Place

Email Mindy: Mindy@biggerpockets.com

Email Scott: Scott@biggerpockets.com

Maximize Your Real Estate Investing with a Self-Directed IRA from Equity Trust

Learn How to Retire Early with Scott’s Book “Set for Life”

How Much Do You Need for Early Retirement? (How to Calculate Your FI Number)

(00:00) Intro

(01:03) Retired at 47!

(05:49) Bobby’s Portfolio

(08:35) Real Estate Investments

(17:05) Withdrawals & Tax Strategies

(26:45) 100% Stock Portfolio

(34:36) What Does Your Life Cost?

(39:47) The 4% Rule Works!

Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-605

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Sahil Bloom: The “X Factor” for Financial Freedom and Why FIRE Won’t Make You Happy Feb 04, 2025

Show notes

Do we focus too much on just one type of wealth? What if the key to a happy life isn’t retiring early, ascending the corporate ladder, or having more money than you know what to do with? Serial entrepreneur Sahil Bloom spent years chasing money, only to find that it didn’t provide happiness—it robbed him of it. Find yourself in the same boat? This episode is for you!

Welcome back to the BiggerPockets Money podcast! Today, Sahil joins the show to discuss the core concepts from his latest book, The 5 Types of Wealth. Many FIRE-focused folks believe that financial wealth unlocks time, social, mental, and physical wealth, but Sahil is living proof that this isn’t the case. In this episode, he shares about his own journey from financial illiteracy to financial independence, the different levers he pulled along the way, and how he was able to dig himself out of a rut that was slowly destroying his life.

Whether you’re stuck on the happiness hamster wheel, burned out at your nine-to-five job, or lacking in any area beyond money, you’re not alone! Sahil will show you the “x factor” that leads to financial freedom, the best and most scalable side hustles to start, and how to transition from your W2 to entrepreneurship!

In This Episode We Cover

The five types of wealth explained (and why you shouldn’t focus on just one!)

The “x factor” that catapults you from a decent living to financial freedom

Why increasing your income is more important than controlling your expenses

The number one thing the FIRE community gets wrong about building wealth

How anyone can start (and scale) their own online business in 2025

Steps every person must take to lay a strong financial foundation

The “safety net” you need when moving from stable W2 income to entrepreneurship

And So Much More!

Links from the Show

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The 5 Types of Wealth

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Buy the Book “Pillars of Wealth”

How to Build, Grow, Scale, & SELL Your Online Business

(00:00) Intro

(01:02) Sahil’s Money Journey

(03:18) Building a Financial Foundation

(13:29) Leaving the Fund & Moving Home

(21:43) The “Scalability” of the Internet

(28:09) Structuring His Company

(33:18) The 3 Pillars of Financial Wealth

(39:09) Riding Out the Market

(43:40) The 5 Types of Wealth

(46:08) Connect with Sahil!

(47:03) Build “Well-Rounded” Wealth!

Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-604

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How to FIRE Faster with a Self-Directed IRA Jan 31, 2025

Show notes

How can you use your retirement accounts to reach FIRE faster? We’ve talked a lot about the “middle-class trap”—having too much of your net worth trapped in your retirement accounts and home equity—and we may have the secret weapon to help you escape it. Not only that, this strategy allows you to keep more of what you earn, take control of your investments, and build a (relatively) passive real estate portfolio while you get closer and closer to FIRE.

Of course, we’re talking about self-directed IRAs and Kaaren Hall’s new book, Self-Directed IRA Investing: A BiggerPockets Guide (use code “SDIRA10” for 10% off)!

Never heard of them? Self-directed IRAs (SDIRAs) are retirement accounts that give you more control over what you invest in. So, instead of just stocks and bonds, you can use your retirement funds to buy rental properties, become a passive private money lender, and invest in real estate syndications. These investments can often get higher returns than stock market averages, helping you reach your retirement goals faster!

So, how do you use it to escape the middle-class trap? Today, Kaaren shares some of the often overlooked strategies to withdraw early from your self-directed IRA so you can FIRE in your forties or fifties instead of waiting until your sixties!

In This Episode We Cover

Self-directed IRAs explained, plus why they’re a “secret weapon” for retirement

Self-directed IRAs vs. traditional IRAs and what you can invest in with each

Escaping the “middle-class trap” with early withdrawal strategies for retirement accounts

Completely passive real estate investments you can put inside your self-directed IRA

How to turn your old employer-sponsored retirement account into a self-directed IRA

And So Much More!

Links from the Show

Listen to All Your Favorite BiggerPockets Podcasts in One Place

Email Mindy: Mindy@biggerpockets.com

Email Scott: Scott@biggerpockets.com

Get fast, affordable landlord insurance with Steadily

uDirect IRA

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Finance Friday: How the “Middle-Class Trap” Stops Your Early Retirement

Connect with Kaaren

(00:00) Intro

(01:23) Self-Directed IRAs Explained

(05:49) Buy Real Estate with Retirement Accounts!

(10:37) Opening a Self-Directed IRA

(13:55) Escaping the Middle-Class Trap

(17:41) Real Estate IRA Rules

(20:52) Best Alternative Investments

(23:56) 401(k) vs. IRA and Minimum Distributions

(27:57) Withdraw from Your IRA for FIRE!

(34:49) Self-Directed HSAs! (Timestamp)

(36:59) When to Use a Self-Directed IRA

(41:48) 403(b)s and TSPs

(43:20) BIG Changes!

(48:20) Grab the Book!

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The Middle-Class Trap That Could Keep You from FIRE (How to Escape It) Jan 28, 2025

Show notes

Buying a house, maxing out your 401(k), and leveraging real estate can help you achieve financial independence. But suppose your goal is to retire early. Could relying too heavily on these principles actually delay early retirement? Today, we’re going to show you how to break free from the “middle-class trap” that stops so many from retiring early!

Welcome back to the BiggerPockets Money podcast! Is most of your net worth “stuck” in home equity and retirement accounts? This is a widespread issue in the FIRE community. On one hand, you could sell your home or refinance your mortgage to tap into your equity, but interest rates are too high! Meanwhile, you can’t withdraw money from your 401(k)—not without incurring severe penalties. In theory, you could already be a millionaire but have little to no cash flow to fuel your retirement. So, what should you do?

In this episode, you’re going to learn all about the middle-class trap, how to avoid it, and, if you’re in it, how to get out! Mindy and Scott will share the “ideal” portfolio for an early retiree and the bridge accounts you need to retire today. Finally, is the FIRE community wrong about the 100% index fund portfolio? Stay tuned to find out!

In This Episode We Cover

The middle-class trap explained and how to avoid (or escape) it

The “ideal” investment portfolio for the early retiree

Tweaking your asset allocation to achieve financial freedom

The power of owning a paid-off rental property in retirement

Bridge accounts and investments that will allow you to retire today

Why a 100% index fund portfolio could come back to bite you

And So Much More!

Links from the Show