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Join Mindy Jensen and Scott Trench (from BiggerPocketsMoney.com) weekly for the BiggerPockets Money Podcast. Each week, financial experts Mindy and Scott interview unique and powerful thought leaders about how to earn more, keep more, spend smarter, and reach financial independence.
Copyright: © Copyright © 2024 BiggerPockets. All Rights Reserved. Disclaimer: The information contained in this podcast is for general informational purposes only. In no event will BiggerPockets be liable for any loss or damage derived from the information provided.
Do you have a cash flow problem? You’re not alone! Dan invests in real estate, has a great W2 job, and maxes out his investment accounts. He wants to hit financial independence by forty, but his lack of cash is making things difficult. Something’s got to give, and Mindy and Scott are here to help!
Welcome back to the BiggerPockets Money podcast! Dan has done an amazing job investing for the future and house hacking throughout his 20s. But now he’s got a MAJOR problem on his hands. Although he and his wife earn around $200,000 per year, they have little to no cash available. With real estate debt, hospital bills, and new baby expenses, Dan is starting to feel the pressure. That extra cash he was able to accumulate only a few years ago? It’s not so easy to find anymore.
In this episode, Mindy and Scott take a deep dive into Dan’s finances to help solve his cash flow problem. Should he follow his real estate dream and pause his retirement account contributions or pivot to a job that will increase his income by another $50,000 per year? Stay tuned to find out!
In This Episode We Cover
Savvy ways to increase your cash flow without taking on more debt
Dan’s house hacking strategy that covers a HUGE chunk of his mortgage
Using a home equity line of credit (HELOC) to buy real estate
How to ask for a raise (and when to pivot to a higher-paying job)
Investing in real estate versus building up your retirement accounts
How Dan plans to reach $10,000/month in “passive” income by the age of forty
And So Much More!
Links from the Show
BiggerPockets Money Facebook Group
Network with Other Investors on The Path to FIRE Through the BiggerPockets Forums
Finance Review Guest Onboarding
Listen to All Your Favorite BiggerPockets Podcasts in One Place
Apply to Be a Guest on The Money Show
Money Moment
Intentionally Choosing the Path to Financial Independence with Financial Mechanic
Systematically Increasing Income and Intentionally Decreasing Spending with A Purple Life
Breaking the Taboo of Talking About Money with Friends, Family, and Bosses
Hear Dan on the “Real Estate Rookie” Podcast
Click here to check the full show notes: https://www.biggerpockets.com/blog/money-501
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After 500 BiggerPockets Money episodes, we’ve learned a thing or two about financial independence. But, for this special episode, we wanted to find some of the best advice we’ve ever received on the show—advice that changed our lives as much as it did yours. So, we’ve lined up a few of our favorite clips from the past 500 episodes with top-tier guests like Codie Sanchez, Ramit Sethi, and more. If you’re a new listener of BiggerPockets Money, this is just a TASTE of what you’ll hear on future episodes.
We’ll touch on a “financial awakening” one of our past guests had, finding that many of us live a “broken” life without even realizing it. Then, a spending hack that lets you live in frugal luxury while slashing your expenses. We talk abouthow to escape your nine-to-five and buy a business that helps you achieve true financial freedom. Finally, the “worry-free number” you MUST calculate unless you want to experience zero joy from all the wealth you’ve built. Hard-hitting stuff, right?
Thanks for sticking around with us for 500 episodes of the BiggerPockets Money show. We could not have made this podcast happen without you, and we’re looking forward to hearing from and potentially even featuring YOU on an upcoming episode!
In This Episode We Cover
The “little choices” you’re making that’s blowing your budget every single month
Why living for the weekend is killing your bank account and financial future
How to live a frugally luxurious life by buying what you truly WANT
The ten steps to buying a “boring business” that’ll replace your income
The “worry-free number” that removes the emotional weight of finances and lets you actually have fun with your money
What you can expect from the BiggerPockets Money podcast in 2024!
And So Much More!
Links from the Show
BiggerPockets Money Facebook Group
Network with Other Investors on The Path to FIRE Through the BiggerPockets Forums
Finance Review Guest Onboarding
Listen to All Your Favorite BiggerPockets Podcasts in One Place
Apply to Be a Guest on The Money Show
Money Moment
Money with Katie’s Middle-Class Myths and The Great Roth vs. 401K Debate
Liz Frugalwoods: Designing a Frugal But Luxurious FI Life by Age 32
Codie Sanchez: These “Boring Businesses” Will Make You Rich
Ramit Sethi's Money Advice for Couples: Live a Rich Life, Together
Click here to check the full show notes: https://www.biggerpockets.com/blog/money-500
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Most people pursuing financial independence own businesses or have stable jobs, working as hard as they can to make any extra dollar, throwing their money into the stock market or real estate, and betting on the economy to take them to higher and higher levels of wealth. But what about those who AREN’T chasing every dollar or dedicating their lives to the pursuit of passive income? Can creatives, musicians, writers, or anyone wondering how to make money as an artist still find FIRE?
Today, we’re talking to Paco de Leon, business owner, musician, podcast host, and author of Finance for the People: Getting a Grip on Your Finances. Paco’s world involves working with other creatives who rarely speak or think about money, helping them link their creative work with cash flow so they can continue doing what they love while building wealth for the future.
Paco knows the system we live in isn’t perfect but recognizes that simply not participating isn’t an option. So, she serves as a voice for those who want to make a difference in the world, go against the grain, or care more about people than profit. In today’s episode, she’ll share the common money mistakes most creatives make that end up hurting them in the long run and why making money and building wealth is something ANYONE can accomplish, no matter your life’s passion!
In This Episode We Cover
Common money problems for creatives and how to build wealth without selling out
The two ways you’ll get rich and how you can “create” your own financial independence
Why your good “idea” isn’t enough, and what you MUST do to make money off of it
Living in an imperfect world and the “dark side” of capitalism many people ignore
Why making money and making art are NOT mutually exclusive (and how to do both!)
And So Much More!
Links from the Show
BiggerPockets Money Facebook Group
Network with Other Investors on The Path to FIRE Through the BiggerPockets Forums
Finance Review Guest Onboarding
Listen to All Your Favorite BiggerPockets Podcasts in One Place
Apply to Be a Guest on The Money Show
Money Moment
Codie Sanchez: These “Boring Businesses” Will Make You Rich
Alex Hormozi on The “Weak Links” That Will Make Anyone a Millionaire
What Playing in a Band Taught Me About Making Money
Click here to check the full show notes: https://www.biggerpockets.com/blog/money-499
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Real estate investing is a popular path to financial freedom, but if you’re not careful, bad debt can get in the way. Before today’s guest could buy rental properties, she had to deal with the mountain of debt that stood between her and wealth. But thanks to aggressive saving and new money habits, she became debt-free in just TWO years!
Sarah King has been thrown several curveballs on her journey to financial independence. Just when she had managed to pay off $118,000 of debt and buy five properties, her marriage ended in a nasty divorce. Forced to liquidate her and her husband’s assets, Sarah was back at square one. Rather than giving up on her dream of reaching FIRE, she overcame her shaky financial situation and found creative ways to buy real estate. Within a few months, she was back on her feet, and today, she owns sixteen units across ten properties!
In this episode, Sarah offers some crucial advice for aspiring investors—including why you should get your financial house in order before buying properties, how to leverage your retirement accounts to buy more properties, and how to use private money (responsibly). You’ll even learn about house hacking—the real estate investing strategy Sarah uses to cover her mortgage payment each month!
In This Episode We Cover
How to reach financial freedom by investing in real estate
The three areas of your finances that will help you build wealth faster
How to pay off BAD debt as quickly as possible
Why you MUST get your financial house in order before buying properties
How to use private money to buy MORE real estate
Covering your mortgage payment with the house hacking strategy
And So Much More!
Links from the Show
BiggerPockets Money Facebook Group
Network with Other Investors on The Path to FIRE Through the BiggerPockets Forums
Finance Review Guest Onboarding
Listen to All Your Favorite BiggerPockets Podcasts in One Place
Apply to Be a Guest on The Money Show
Money Moment
From Toxic-Marriage to Financially Independent Mom with 13 Units
How to Achieve Financial Freedom Through Real Estate in 4 Steps
Click here to check the full show notes: https://www.biggerpockets.com/blog/money-498
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By the time you finish this episode, you’ll be ten thousand dollars richer. Just read this testimonial from a recent BiggerPockets Money listener, “I’m so rich now, I have no idea what to spend all my money on. And all it took was listening to this episode.” But act fast because, in five minutes, this episode WON’T be available anymore.
None of the above is true. But you probably caught on to a few of the psychological tricks many marketers use to push you into purchasing, even when you’re not ready to. And with so much mentoring, online course-selling, guru-ing, and get-rich-quick promising, it’s hard NOT to fall into these traps. How do you know who actually wants to help you and who’s just waiting to grab onto your wallet?
Tarzan Kay has spent years using persuasion-first business tactics to prompt potential customers into purchasing, building a seven-figure income stream in the process. It wasn’t until she realized that these tactics did more harm than help that she decided to burn down the business she had built. Now, she’s sharing all the persuasion secrets marketers are using on YOU and teaching you how to build a business the better way.
In This Episode We Cover
The “principles of persuasion” businesses use to trick you into buying
Common predatory practices online gurus and mentors commonly use
HUGE red flags to watch out for before you buy ANY online course
How to ensure your business NEVER tricks potential customers into buying
Vetting your own clients and customers BEFORE they have the chance to pay you
And So Much More!
Links from the Show
BiggerPockets Money Facebook Group
Network with Other Investors on The Path to FIRE Through the BiggerPockets Forums
Finance Review Guest Onboarding
Listen to All Your Favorite BiggerPockets Podcasts in One Place
Apply to Be a Guest on The Money Show
Money Moment
Warning: Why You Shouldn’t Buy What the Gurus Are Selling
Click here to check the full show notes: https://www.biggerpockets.com/blog/money-497
Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Email us: moneymoment@biggerpockets.com
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If you want to reach financial freedom, knowing how to save money is crucial. Today, Mindy and Kyle deliver some special tips that will help you save on housing, food, travel, and other common money categories in 2024!
In this final episode of our four-part money tips series, we’re looking to help you improve your quality of life while saving money. Do you pay a premium to live in an expensive city that you don’t have time to explore? Perhaps it’s time to pack up and move to an area with a lower cost of living. Instead, scratch your itch to see the world by using credit cards to travel for FREE!
Is your monthly grocery bill getting out of control? Choose a cheaper store, take advantage of sales, or do “mini” shops that help you eliminate waste. Finally, do you spend a fortune on things like eating out or going to the spa? Learn how you can recreate these experiences at home for a fraction of the cost!
In This Episode We Cover
How to save money on groceries with savvy food budget tips
Why you should consider moving to an area with a lower cost of living
Creating “at-home” experiences that put money back in your pocket
How to improve your quality of life with small but effective upgrades
Building the healthy habit of charitable giving (and how to plan your donations!)
Choosing a FIRE goal that gives you “enough” money to support your lifestyle
Traveling for FREE by racking up credit card rewards
And So Much More!
Links from the Show
BiggerPockets Money Facebook Group
Network with Other Investors on The Path to FIRE Through the BiggerPockets Forums
Finance Review Guest Onboarding
Listen to All Your Favorite BiggerPockets Podcasts in One Place
Apply to Be a Guest on The Money Show
Money Moment
Check Out Part 1 of Our 24 Money Tips for 2024
Check Out Part 2 of Our 24 Money Tips for 2024
Check Out Part 3 of Our 24 Money Tips for 2024
Ramit Sethi Revisited: Spend Like Your Life Depends on It
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-496
Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Email us: moneymoment@biggerpockets.com
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Learning high-income skills can help you make money online—and a LOT of it! Just ask today’s guest, who worked not one but SEVEN internships to develop professional skills that would help her launch several successful online businesses down the road!
Welcome back to the BiggerPockets Money podcast! Jo Franco is an entrepreneur, YouTuber, podcast host, and digital nomad with multiple income streams. Born to undocumented immigrants, Jo didn’t have much growing up other than her family and a chance to pursue the American Dream, but what she lacked in money and resources, she made up for in pure work ethic. Throughout her teens and twenties, Jo worked all kinds of jobs, side hustles, gigs, and internships that allowed her to save money and even travel the world for FREE.
Since then, Jo has had her own Netflix show, built a successful YouTube channel, and launched her own journaling company. In this episode, she shares exactly how she made all of this happen, the keys to her success, and important money management tips for entrepreneurs. She also talks about the biggest mistake she has made in her career to date: hiring the wrong people!
In This Episode We Cover
The high-income skills you NEED to become a successful entrepreneur
How to become a digital nomad (and travel the world for FREE)
Reducing your financial risk by keeping your expenses down
The true value of unpaid internships (and how to make the most of them!)
Crucial money management tips for all entrepreneurs
How to save money WITHOUT the consistency of a W2 paycheck
How to get the highest return on your investment in people
And So Much More!
Links from the Show
BiggerPockets Money Facebook Group
Network with Other Investors on The Path to FIRE Through the BiggerPockets Forums
Finance Review Guest Onboarding
Listen to All Your Favorite BiggerPockets Podcasts in One Place
Apply to Be a Guest on The Money Show
Money Moment
Check Out Our 24 Money Tips for 2024:
Click here to check the full show notes: https://www.biggerpockets.com/blog/money-495
Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Email us: moneymoment@biggerpockets.com
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Want to learn how to buy a house in 2024? Whether you have outstanding credit or your score could use a little work, there are different ways to buy. In this episode, we’ll lay out your best options and provide actionable steps you can take to boost your credit score in the meantime!
Welcome back to the BiggerPockets Money podcast! Today, Mindy and Kyle are fielding some of your biggest money questions. Beyond buying a home, you’ll learn how to use your home equity to fund your new business idea. Have you run into some “extra” cash recently? We share investing strategies that will allow you to “hack” tax brackets and position yourself to retire early.
This year, it’s crucial that you get on the same page with your partner, financially. Mindy and Kyle talk about the tough but essential “meetings” you should be having about your budget. Finally, is there ever a time when it makes sense to buy a depreciating asset like a brand-new car? Our hosts’ answer might surprise you!
If you want Mindy and Kyle to answer a money question, you can submit a question here or post it in the Money Facebook Group!
In This Episode We Cover
How to buy a house in 2024 with less-than-perfect credit
What you MUST know before entering a home equity agreement
The BEST ways to fund your new business idea
How to buy a brand-new car and stay on track for FIRE
How to invest “extra” money and “hack” your tax bracket to owe less
The finance “meetings” you NEED to have with your partner
And So Much More!
Links from the Show
BiggerPockets Money Facebook Group
Network with Other Investors on The Path to FIRE Through the BiggerPockets Forums
Finance Review Guest Onboarding
Listen to All Your Favorite BiggerPockets Podcasts in One Place
Apply to Be a Guest on The Money Show
Money Moment
When to Buy New vs. Used and is That Car Repair Worth the Cash
The Money Date: What You Should (And Definitely Should Not) Do to Align Your Finances as a Couple
Playing with FIRE (Financial Independence, Retire Early) with Scott Rieckens
Ramit Sethi’s Money Advice for Couples: Live a Rich Life, Together
Grab Your Copy of “Playing with FIRE”
Click here to check the full show notes: https://www.biggerpockets.com/blog/money-494
Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Email us: moneymoment@biggerpockets.com
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Looking to be a better investor in 2024? A few simple adjustments could help your money work much harder for you this year, and our hosts are here to lend a hand!
In part three of our four-part money tips series to kick off 2024, Mindy and Kyle offer some top-notch advice on how to invest your money this year. You’ll learn about the importance of tracking your finances year-round, savvy retirement planning, and, if you’re a real estate investor, putting some of your “lazy” equity to better use!
Beyond investing, our hosts provide several money hacks that will help you chip away at your expenses this year—whether it’s taking advantage of autopay or annual-pay discounts or pivoting to a low-cost phone plan. Finally, they discuss how spending money can actually propel you toward your FIRE goal!
In This Episode We Cover
How to be a better investor in 2024 and beyond
Finding the perfect method to track your finances year-round
Paying a fraction of your current phone bill by switching to a cheaper plan
Saving money on bills with autopay and annual pay options
How to spend money, enjoy your life, and still save BIG
Getting the highest retirement account benefit by planning contributions
Making your money work harder by optimizing your investment portfolio
Reinvesting the “lazy” equity in your real estate portfolio
And So Much More!
Links from the Show
BiggerPockets Money Facebook Group
Network with Other Investors on The Path to FIRE Through the BiggerPockets Forums
Finance Review Guest Onboarding
Listen to All Your Favorite BiggerPockets Podcasts in One Place
Apply to Be a Guest on The Money Show
Money Moment
Check Out Part 1 of Our 24 Money Tips for 2024
Check Out Part 2 of Our 24 Money Tips for 2024
Ramit Sethi Revisited: Spend Like Your Life Depends on It
Find a Discount Phone Plan:
Click here to check the full show notes: https://www.biggerpockets.com/blog/money-493
Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Email us: moneymoment@biggerpockets.com
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Everyone tells you you’ll need millions to retire, let alone retire early. You hear it all over mainstream financial media, “You need FIVE million dollars” or “Three million dollars is enough, but you have to be frugal!” Even having half a million dollars in investments seems like a lofty goal for most Americans. Are these financial “experts” just out of touch with the everyday person? And if so, is there a way to retire with less than a million dollars? Surprisingly, yes!
Wes Moss, certified financial planner, money educator, and author of the best-selling book You Can Retire Sooner Than You Think, is here to show you that retirement isn’t that far away. Through some simple calculations, Wes enlightens us on how many Americans are already in the position to retire and why you don’t need many millions to live a comfortable post-work life. But that’s just the tip of this financial education iceberg.
We get into a much deeper discussion with Wes about what a happy retirement really looks like and the key signs that you’ll live a satisfying retirement life. There are two main factors to a happy retirement, and if you haven’t been paying attention to them, you can almost guarantee you WON’T enjoy financial freedom when you achieve it. So, if you want a happier, healthier, wealthier, and longer retirement, stick around!
In This Episode We Cover
The two most crucial factors of having a happy retirement (it’s NOT money)
Why you DON’T need to be a millionaire to retire or retire early
The wave of “unretired” and why those over fifty-five are going back into the workforce
Why eighty percent of Americans DON’T like their job and how this is hurting retirement investing
The multiple streams of income you need to retire on your terms
Social security, pensions, and other retirement income many Americans forget about in their calculations
And So Much More!
Links from the Show
BiggerPockets Money Facebook Group
Network with Other Investors on The Path to FIRE Through the BiggerPockets Forums
Finance Review Guest Onboarding
Listen to All Your Favorite BiggerPockets Podcasts in One Place
Apply to Be a Guest on The Money Show
Money Moment
Motley Fool: The Retirement Planning Roadmap: 401(k)s, Real Estate, Bonds & More
Michael Kitces: Does the 4% Rule Hold During 2022’s Stock Market Crash?
Click here to check the full show notes: https://www.biggerpockets.com/blog/money-492
Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Email us: moneymoment@biggerpockets.com
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