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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.
Most people know that investing in real estate is one of the best ways to reach financial independence, but very few ever take action. Once today’s guest discovered the potential of real estate, however, it became his obsession. Despite starting out on a low military salary, he built a million-dollar net worth in just THREE YEARS!
In this episode, we’re catching up with entrepreneur, investor, and repeat guest Jabbar Adesada. Since we last spoke with Jabbar, he has only doubled down on his real estate dream and journey to financial freedom—dabbling in several different investing strategies and teaming up with a partner to get more deals done. Today, Jabbar owns a slew of short-term rentals and long-term rentals, has completed several BRRRR projects (Buy, Rehab, Rent, Refinance, Repeat), and has more than a dozen construction projects in the works.
If you want to reach your FIRE goal as soon as possible, tune in to hear how Jabbar used real estate to expedite his journey. He shares how he was able to save up for a down payment with a low income, get his first home loan with almost no credit history, and rapidly increase his income!
In This Episode We Cover
Reaching financial independence by investing in real estate
How Jabbar built a million-dollar net worth in only THREE years
Combining multiple real estate investing strategies within your portfolio
How to choose the perfect real estate market to invest in
Finding a partner and building out your real estate network
And So Much More!
Links from the Show
BiggerPockets Money Facebook Group
Network with Other Investors on The Path to FIRE Through the BiggerPockets Forums
Finance Review Guest Onboarding
Listen to All Your Favorite BiggerPockets Podcasts in One Place
Apply to Be a Guest on The Money Show
Money Moment
Grab Your Copy of “First to a Million” by Dan Cheeks
20-Year-Old Minimum Wage Marine with $850k in Real Estate
Coast FI in 4 Years: Cutting Expenses, Doubling Your Income, & HUGE Savings
Click here to check the full show notes: https://www.biggerpockets.com/blog/money-481
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This eighteen and twenty-two year old are on track to reach financial freedom by the age of thirty. And if you think that you can’t make big money moves because you don’t have the experience, resources, or income to build wealth, think again. These two young adults are on the path to making millions in their lifetime, and if you’re in your late teens or twenties or have children or grandchildren who are, THIS is the episode to watch.
First, we talk to Gloria Stonelake, an eighteen-year-old who runs a social media marketing agency on track to bring in six figures in income a year. She’s still technically a high school student but spends almost all her time working on her business, learning leadership, and getting leads for her clients. She ditched the traditional route of getting a diploma, a degree, and THEN a job and skipped right to the money-making part. She has some incredible advice for ANYONE who wants to start their own business, no matter your age!
Next, Ben Carver joins us to talk about his high school house-flipping side hustle, how he became a real estate agent before getting his college degree, and the newest house hack he’s set to buy at just twenty-two years old! By thirty, both Ben and Gloria should be financially free, and if you want to hit FIRE in your 30s, 40s, 50s, or 60s, these wunderkinds are two to watch!
In This Episode We Cover
How to build a six-figure business, no matter your age or experience level
Why ditching the college degree may be a smart move for entrepreneurial teens and twenty-year-olds
Why your financial background does NOT determine whether or not you’ll hit FIRE
Entrepreneurial tips to take and challenges you must prepare for to succeed
How to live for free and start building a real estate portfolio EARLY in life
The one piece of advice Mindy and Scott wish they could give their younger selves
And So Much More!
Links from the Show
BiggerPockets Money Facebook Group
Network with Other Investors on The Path to FIRE 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
Make an Extra $100/Day with These Work-From-Home Side Hustles
Is It Time to Give Up on Financial Independence? (Mad Fientist)
Click here to check the full show notes: https://www.biggerpockets.com/blog/money-480
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Don’t strive to become rich. Instead, become a “quiet” millionaire like Tae Kim, the “Financial Tortoise.” You’ve seen the flashy cars, fancy champagne, and private jets of the online financial “gurus.” Then, like clockwork, you see these same people lose their wealth, go bankrupt, or disappear from the online world entirely. What happened to them, and where did all the “riches” go?
In today’s show, we talk to Tae about the slow, steady, unsexy way to build wealth and become a millionaire that most Americans will never understand. It’s far less risky than gambling your money away, day trading, or going high-leverage on risky real estate. Instead, you can sleep like a baby every night, knowing you have hundreds of thousands in the bank, millions in investments, and enough money to chase your dreams IF you follow Tae’s advice.
Tae’s path to wealth wasn’t complicated, but he did make a handful of money mistakes you won’t want to repeat. Afterpaying off over six figures in debt, Tae now serves as the financial hero we need but don’t deserve, teaching EVERYONE why the slow, quiet way to wealth is the smartest, most sustainable way to truly become “rich.” If you want to quit your job, do what you love, and live every day on YOUR schedule, stick around!
In This Episode We Cover
The “quiet” millionaire and why you want to be wealthy, NOT rich
Money mistakes that you should avoid at ALL costs when on the journey to financial independence
How much money you should have in the bank BEFORE you quit your job
Why so many financial “gurus” go broke within a few years of acquiring their wealth
How to define your “enough” so you don’t end up working your life away
Tae’s unbelievably simple investment advice for those just starting out
And So Much More!
Links from the Show
BiggerPockets Money Facebook Group
Network with Other Investors on The Path to FIRE Through the BiggerPockets Forums
Finance Review Guest Onboarding
Listen to All Your Favorite BiggerPockets Podcasts in One Place
Apply to Be a Guest on The Money Show
Money Moment
10 Life & Money Lessons From Broke Financial Gurus
Click here to check the full show notes: https://www.biggerpockets.com/blog/money-479
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Are you sitting on an amazing business idea? Knowing how to get money to start a business is a critical first step to getting your concept off the ground. While there are all kinds of funding options, you may be able to get FREE moneywith a grant. That’s exactly what today’s guests did!
Welcome back to the BiggerPockets Money podcast! Today, we’re chatting with Cheryl Edmundson and Erin Jacobsen from Inclusive GameWerks—a fledgling business that has developed an inclusive pinball controller for people with disabilities. After building the first prototype for a close friend, they realized the device’s incredible potential. So, they went right to work—fine-tuning the design, structuring their business, and, of course, looking for ways to fund their new venture. Before long, they had landed a ten-thousand-dollar grant to get their operation up and running!
If you’ve got an entrepreneurial spirit and a great business idea, this is an episode you won’t want to miss! Tune in as Cheryl and Erin show you how to launch a business alongside your nine-to-five job, find your lane in an established market, and get FREE money for your business!
In This Episode We Cover
How to get FREE money to start your new business
How to find, apply, and get approved for a business grant
Using grant money appropriately within a for-profit business
The best ways to structure your new business
Building a business without leaving your nine-to-five
Driving your business forward through the power of networking
And So Much More!
Links from the Show
BiggerPockets Money Facebook Group
Network with Other Investors on The Path to FIRE Through the BiggerPockets Forums
Finance Review Guest Onboarding
Listen to All Your Favorite BiggerPockets Podcasts in One Place
Apply to Be a Guest on The Money Show
Money Moment
Building a Massively Profitable Business Around Your Passions
Click here to check the full show notes: https://www.biggerpockets.com/blog/money-478
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With 2024 right around the corner, it’s time for a final year-end tax planning push! There are all kinds of ways to pay less to the IRS, and today’s guest is here to help you save as much money as possible!
Welcome back to the BiggerPockets Money podcast! Today, we’re joined by certified public accountant and financial planner Sean Mullaney. In this episode, Sean delivers a thorough breakdown of everything you should be doing to lower your tax burden for not only 2023 but also over your entire lifetime. While there are many moves you can make before this year’s filing deadline, you don’t have to make them all at once. Sean shares how most tax moves fall into one of three “buckets”—moves that should be handled urgently, by year-end, or in early 2024.
Whether you’re rushing to tie up loose ends in 2023 or looking to maximize retirement savings, Sean offers a variety of helpful tax tips for those in different phases of life. You’ll learn how to reap the tax benefits of donor-advised funds, how to time a Roth conversion, and how to avoid giving the IRS a large interest-free loan!
In This Episode We Cover
Tax moves to make immediately, by year-end, and in early 2024
New tax-saving strategies to start implementing next year
Lowering your total lifetime tax burden with the Roth conversion strategy
How to get a tax deduction and avoid capital gains tax with a donor-advised fund
The BEST retirement accounts for entrepreneurs and self-employed individuals
How to choose the perfect health insurance plan for you in 2024
And So Much More!
DISCLAIMER: "The discussion is intended to be for general educational purposes and is not tax, legal, or investment advice for any individual. Scott, Mindy, BiggerPockets, and the BiggerPockets Money podcast do not endorse Sean Mullaney, Mullaney Financial & Tax, Inc. and their services."
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Money Moment
What You Need to Do NOW to Pay Fewer Taxes in 2024
I’m Over Paying Taxes, So Here’s How I Plan to Significantly (and Legally) Lower My Liability
Click here to check the full show notes: https://www.biggerpockets.com/blog/money-477
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Nasty Gal went from an eBay side hustle to a business doing $100M in sales in under a decade. Behind it was the most famous “Girlboss” in America, Sophia Amoruso. She had no business experience, management training, leadership coaching, background in logistics, business financials, or running an online shop. Somehow, she built a business to heights few entrepreneurs ever reach, owning an extremely profitable clothing empire and finding herself on the cover of Forbes. But then, Nasty Gal went bankrupt. What happened?
Sophia joins us on the show today to explain it all. She’ll share her full financial story, which included watching her parents go bankrupt, eventually selling her business, and seeing it suffer the same fate. From entrepreneurial mistakesto risks Sophia took that led her to massive financial success, Sophia has seen both success and failure, and she has priceless insight to offer any aspiring entrepreneur or investor.
If you want to build a business, invest in one, or start a profitable side hustle, Sophia can help. She’ll also uncover what led to Nasty Gal’s downfall, the pressure “Girlboss” put on her, and why growing too fast can kill your financial future.
In This Episode We Cover
How Sophia turned a thrifting side hustle into a nine-figure business
Hiring your first employee and why you DON’T want to over-scale your side hustle
Venture capital, investing in businesses, and when you should give up equity
Going bankrupt and rebuilding yourself after a financial failure
What Sophia is investing in NOW that’s helping her build even greater wealth
Advice for new entrepreneurs and anyone who wants to sell online
And So Much More!
Links from the Show
BiggerPockets Money Facebook Group
Network with Other Investors on The Path to FIRE Through the BiggerPockets Forums
Finance Review Guest Onboarding
Listen to All Your Favorite BiggerPockets Podcasts in One Place
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Money Moment
Here’s What It Takes to Succeed as an Entrepreneur
Building a Massively Profitable Business Around Your Passions
Click here to check the full show notes: https://www.biggerpockets.com/blog/money-476
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You want to know how to get rich. But you probably don’t want to deal with the tenants, toilets, trash, and constant headaches of investing in real estate. And even as the world’s biggest resource for real estate investors, we get it. The landlord lifestyle isn’t for everyone. Thankfully, real estate isn’t the ONLY way to get rich. There are five other time-tested ways to build wealth that don’t involve 2 A.M. tenant phone calls.
In today’s show, Mindy and Scott tag team the five best ways to build wealth without ever buying a rental property.These methods work for almost anyone, no matter how much (or how little) money you make or have in the bank. Some of these methods are more passive than others, requiring just minutes a month to start building wealth, while others can explode your income but require much more time.
But we’re not just giving you some experimental investment methods to try. Both Mindy and Scott have used most, if not all, of these methods to become rich themselves, and if you incorporate ANY of these methods into your life in 2024, there’s a good chance by this time next year, you could be way wealthier!
In This Episode We Cover
The five ways to get rich WITHOUT investing in real estate
The four “levers” of wealth you can pull to level up your financial lifestyle
“Boring” businesses and HUGE investment opportunities for those in their 20s, 30s, or 40s
Job hopping and why you could be underpaid and overworked at your current role
The investment accounts that can expedite your path to becoming a millionaire
The super passive investment anyone can use to build massive wealth in the background
And So Much More!
Links from the Show
BiggerPockets Money Facebook Group
Network with Other Investors on The Path to FIRE Through the BiggerPockets Forums
Finance Review Guest Onboarding
Listen to All Your Favorite BiggerPockets Podcasts in One Place
Apply to Be a Guest on The Money Show
Money Moment
Past Episodes Mentioned in Today’s Show
Nick Loper (Side Hustle Nation)
Click here to check the full show notes: https://www.biggerpockets.com/blog/money-475
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Deep in the forest, a secret financial independence summer camp is being held. Multiple times a year, all across the country, millionaires, financial freedom achievers, and those still on or just starting their FIRE journey meet up for a weekend like no other. Those who have achieved FIRE in their 30s, 40s, and 50s give advice, tips, and tactics to those who want to leave their jobs behind and see what a life of financial freedom feels like. It’s such a can’t-miss event that Mindy and Scott are regulars there too!
Of course, we’re talking about CampFI, where you can roast marshmallows, talk about Roths, scheme with other investors on the best way to make millions, or simply meet the financial independence heroes you’ve only seen online. Throughout the year, these camps are held in every corner of the country, and today, you’ll get to hear exactly what happens around the campFIre.
For that, we brought on CampFI founder Stephen Baughier to tell us more about this exclusive financial independence experience and his own journey to FI. After a tough wake-up call in his mid-30s, Stephen made it his goal to reach financial freedom, but not on the fast-paced schedule most FIRE chasers think of. Hear how Stephen was able to downsize his life, cut his spending, and have ultimate time freedom without having to work his tail off!
In This Episode We Cover
The one thing that made Stephen reevaluate his financial decisions in life
Downsizing, cutting spending, and how to reach financial freedom faster
Advice from millionaires and those who’ve already achieved FIRE
CampFI costs, activities, events, and why you MUST attend
Why you can (and SHOULD) slow down your path to FIRE
Scott’s accidental run-in with a fireside cult-like chanting circle
And So Much More!
Links from the Show
BiggerPockets Money Facebook Group
Network with Other Investors on The Path to FIRE Through the BiggerPockets Forums
Finance Review Guest Onboarding
Listen to All Your Favorite BiggerPockets Podcasts in One Place
Apply to Be a Guest on The Money Show
Money Moment
Past Episodes Mentioned in Today’s Show:
Click here to check the full show notes: https://www.biggerpockets.com/blog/money-474
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The 2023 holiday shopping season is here, and you know what that means…gifts, trips, and LOTS of spending. If you love the holiday season but are more into frugal festivities, we have just the episode for you. Whether you're a budget-conscious stocking stuffer or a buy-everyone-an-iPhone gift giver, we've got some simple tips that'll help you save hundreds or thousands this holiday season.
To help us build out our list of holiday hacks, we brought on Chris Hutchins from the All the Hacks podcast to give us his best tips for staying on budget this holiday season. From saving hundreds of dollars per person per flight to crazy cash-back browser extensions, how to buy fewer gifts while making everyone happy, and the best board game ever, Chris shares his favorite ways to spend less during the season and his listeners' favorite frugal gifts.
Even if you're not much of a holly, jolly, merry type of person, Chris drops some incredible cost-saving knowledge YOU can use at ANY time of the year to keep thousands of more dollars in your pocket!
In This Episode We Cover
How to save hundreds of dollars on your holiday flights with this one timing hack
Why fewer gifts can lead to happier holidays (and how to convince your family of it)
Crazy cash-back opportunities and sites that'll reward you for gift-giving
How to save 30%-40% on home renovations and repairs using this one coupon website
The gifts you can and should buy used (NO ONE will notice)
Chris' 2023 holiday gift guide for the frugal gift giver
And So Much More!
Links from the Show
BiggerPockets Money Facebook Group
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
Give the Gift of Wealth-Building Knowledge with BiggerPockets' Books
All the Money Hacks We WISH We Had Known About
Grab Chris’ 2023 Holiday Gift Guide
Click here to check the full show notes: https://www.biggerpockets.com/blog/money-473
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Happy Thanksgiving! This Turkey Day, we're giving you an encore of one of our favorite episodes on the money hacks EVERYONE should know about! This was one of our top shows of last year and will teach you how to save better, spend less, and travel for CHEAP! Enjoy!
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Travel hacks, spending hacks, medical hacks. If there’s one thing that Chris Hutchins has learned from hosting the All the Hacks podcast, it’s that everything is negotiable. You can travel to over sixty countries for (almost) free, outsource your cooking at a reasonable rate and even get free money once forgotten. Chris should know—he’s done all this and more as he works to optimize every aspect of his life, both financially and personally!
Chris was hacking at a very young age. In high school, he made a fake magazine so he could score free press passes to concerts. When he was away at boarding school, he would buy whole pizzas and sell them by the slice just to afford a few slices of his own. Then, later when he quit his job to travel the world, Chris and his partner hit over sixty countries, using credit card points to globetrott from South Africa to Singapore!
Now, as a father, Chris is more concerned about hacking his time. He’s got kids to take care of and doesn’t want to waste a second of his day that could be spent planning for, or playing with, his children. In today’s episode, you’ll hear some of the most insane life hacks, from hiring a personal chef for a fraction of the cost to getting free champagne at any hotel stay and even snagging twenty to thirty percent off of your dream vacation villa. These hacks work (we tried them in real-time), and you may need a pen and paper to write them all down!
In This Episode We Cover
Credit card points, travel hacking, and how to get flights for free (or at a steep discount)
Outsourcing and delegating everything so you spend more of your time with those who are most important
Simple principles for an optimized life and why conventional wisdom is usually out of whack
How to get deep discounts off of vacation properties during your next big trip
Why you should NEVER cancel a flight until twelve hours before takeoff
Where to find “unclaimed money” you never knew you had (we found some ourselves!)
And So Much More!
Links from the Show
BiggerPockets Money Facebook Group
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
Apps Mentioned in This Episode:
Click here to check the full show notes: https://www.biggerpockets.com/blog/money-472
Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Email us: moneymoment@biggerpockets.com
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