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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.
Building wealth, saving money, getting rich—it’s much more straightforward than most people think. You don’t need to be a financial expert or millionaire to know what you should do with your money. But if you’ve found yourself in a spot where saving and investing just isn’t happening or you want to build wealth but don’t know where to start, we’ve got the perfect guest for you!
Tiffany Aliche, AKA “The Budgetnista,” is on track to help more than 300,000 people start their journey to financial freedom with her Live Richer Challenge, following the same steps she took to get out of over $30,000 in credit card debt, fix her trashed credit score, and save and invest her way to serious wealth. In today’s show, Tiffany will talk about the ten steps you can take to go from money mayhem to net worth nirvana so you can build generational wealth, achieve financial freedom, and leave a legacy for your family.
If you liked today’s episode, grab a copy of Tiffany’s Made Whole financial workbook that’ll help you get good with money no matter where you’re starting!
In This Episode We Cover
The ten steps that’ll take you from broke to building a financial legacy
Why you’re budgeting all wrong and the right way to make sure you’re not overspending
The EASIEST way to save money every month that will grow your bank account without you even noticing it
The different methods to get out of debt and which one makes most the sense for your situation
How to take your credit score from the 500s to the 800s with some super simple hacks
The one thing you can do right now to start building your retirement nest egg
And So Much More!
Links from the Show
BiggerPockets Money Facebook Group
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 Financially Perfect to Rock Bottom (and Back Again)
How to Teach Your Children About Money
Tiffany Aliche’s 10 Financial Components to Become ‘Financially Whole’
Join the Live Richer Challenge!
Click here to check the full show notes: https://www.biggerpockets.com/blog/money-471
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 know how to make $100 a day the easy way? We’ve got the queen of side hustles, Jackie Mitchell, on the show to share the most legit, low-effort, flexible side hustles you can try today to start making money tomorrow. Jackie challenged herself to make $100 per day for the next 100 days as she and her husband work to save up a down paymentfor their first house. She’s documented her entire journey on social media to show the side hustles that are (and aren’t) worth the work.
From study groups to surveys, meal-prepping for others, training AI chatbots, and playing piano at events, Jackie has tried dozens of different side hustles so you don’t have to. In today’s show, she shares the best side hustles where you can make up to thirty dollars an hour working entirely from home, the side hustles that trick you into thinking you’re making more money, and how you could start making THOUSANDS more a month while working a few hours extra every day.
If you’re trying to save up for a down payment like Jackie, ditch some debt, or want a little extra in the bank, these side hustles could be your first step toward financial freedom. Stick around because Jackie will tell you which side hustles could boost your bank account!
In This Episode We Cover
How to make an extra $100 per day with simple side hustles that DON’T require experience
The one side hustle Jackie comes back to that offers consistent work and high pay
Which side hustles are NOT worth the money and take FAR longer than you think
Taxes, 1099s, and how to keep track of your income and expenses when making extra money
“Body mirroring” and how Jackie stays super efficient when doing side work
And So Much More!
Links from the Show
BiggerPockets Money Facebook Group
Finance Review Guest Onboarding
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
Money Moment
Food Spending Eating Away at Your FI Plans? Here’s How to Eat for Cheap
The Most Efficient Path to Financial Freedom With Justin From Saving Sherpa
Taking Command of Your Finances by Understanding (& Controlling) Money with Joe Saul-Sehy
Side Hustle Websites from This Show
Click here to check the full show notes: https://www.biggerpockets.com/blog/money-470
Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Email us: moneymoment@biggerpockets.com
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Building wealth is about to become more challenging than ever before. High interest rates make many rental properties cash-flow-less, the economy could enter a recession, and many investors could lose their shirts. In times of extreme economic uncertainty, only the financially fit will be able to keep, protect, and build wealth. So, in today’s episode, we’re giving you the steps you need to not only survive but thrive in ANY economy.
Who are these steps coming from? David Greene, the waiter turned multi-million dollar property investor who is not only the industry’s leader in real estate investing but one of the most financially savvy people on the planet. When the gurus go left, David goes right, which is how he’s been able to hold on to his wealth EVEN during economic turbulence.
Today, David will go over the Pillars of Wealth (also the name of his new book) that you must start building NOW if you want your wealth to last. David even gives some rare commentary on the MOST critical thing you can do to reach financial freedom faster and make more money (hint: it’s not investing in real estate).
In This Episode We Cover
The three unignorable pillars of wealth that will make you rich
BIG shifts in the economy and what happens when this game of “musical chairs” comes to an end
When to NOT invest in real estate and whether or not 2024 is FAR riskier than before
The EASIEST way to boost your bank account WITHOUT making more money
What to do TODAY to ensure you keep your job, get raises, and grow your income
And So Much More!
Links from the Show
BiggerPockets Money Facebook Group
Finance Review Guest Onboarding
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
Money Moment
Pick Up “Pillars of Wealth” and Other Best-Selling David Greene Books
Hear David on The “BiggerPockets Real Estate” Podcast
How to Become an “Overnight” Success in 10 Short Years with David Greene
Click here to check the full show notes: https://www.biggerpockets.com/blog/money-469
Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Email us: moneymoment@biggerpockets.com
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Bar Rescue host Jon Taffer has spent more than a decade finding the most disgusting, poorly-run, money-hemorrhaging bars in America and turning debt-ridden dumps into successful money-making businesses. How does he do it? In today’s show, this hospitality, restaurant, and bar legend will uncover the ONLY reason why businesses fail and the “secret recipe” for a successful entrepreneur.
And even if you don’t own a business or don’t plan on owning one, Jon drops some knowledge that cannot be missed and could turn WHATEVER you’re struggling with in life into a smooth path to success. Jon talks about the over two hundred bars and businesses he’s saved, the biggest mistake the owners are making, and how to get out of business debt if your business is in WAY too deep.
Lastly, Jon talks about what makes a successful entrepreneur and gives his most crucial advice for those who are about to launch or have plans to launch a business. Trust us, Jon’s advice could save your entire business!
In This Episode We Cover
The number one reason why businesses fail and what their owners should do NOW
Taking responsibility and why your excuses are STOPPING you from achieving your dreams
How Jon and the Bar Rescue team complete bar renovations in just thirty-six hours (seriously!)
Screaming, yelling, crying, and how Jon breaks through to failing business owners
The “secret recipe” for a successful entrepreneur and Jon’s biggest piece of advice in 2024
And So Much More!
Links from the Show
BiggerPockets Money Facebook Group
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
The Main Reason Most Businesses Fail and How to Avoid It
Click here to check the full show notes: https://www.biggerpockets.com/blog/money-468
Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Email us: moneymoment@biggerpockets.com
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Switching jobs is a HUGE career decision that impacts not only your finances but also your schedule, quality of life, and more. When is changing jobs the right move, and what are the different factors at play? Today, our hosts will show you what to do when faced with such a big decision!
Welcome back to the BiggerPockets Money podcast! In this episode, Mindy and Kyle are fielding some of your top questions. In addition to changing jobs, they discuss 401(k) investing strategies—including how to handle accounts from previous employers and how to set up your own solo 401(k)! They also talk about what to expect as a first-time landlord and all of the different tax benefits and liabilities that come along with the job. Plus, what you should do if your tax professional makes a dreaded error.
Finally, they offer some timely investing advice that will help you navigate the current economic climate. Amidst inflation and high mortgage rates, should you invest in the stock market, pay off your debts, or go another route entirely? Stay tuned to find out!
If you want Mindy and Kyle to answer a money question, you can submit a question here or post it in the Money Facebook Group!
In This Episode We Cover
Leaving your job for a higher-paying one (and when it’s best to stay put!)
How to handle your old 401(k) accounts and set up a solo 401(k)
Tax benefits and liabilities you MUST know as a first-time landlord
What to do when your tax professional makes a COSTLY error
Investing in the stock market versus paying off debt (and how to get the best rate of return)
And So Much More!
Links from the Show
BiggerPockets Money Facebook Group
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
What to Do Before You Quit the High-Pay & Benefits of Corporate World
Finance Friday: I Want to Cash Out My 401k Early, Should I?
Click here to check the full show notes: https://www.biggerpockets.com/blog/money-467
Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Email us: moneymoment@biggerpockets.com
Learn more about your ad choices. Visit megaphone.fm/adchoices
See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
If you haven’t started your retirement planning yet, you’re not out of luck. Whether you’re in your twenties, thirties, forties, fifties, or sixties, there’s still time to get enough into your accounts so you can walk away from work and live life on your schedule. So, even if you’re starting late, fret not because today, we’ll walk through everything you need to know to get your retirement planning in gear! To help, The Motley Fool’s Robert Brokamp is joining us on the show!
Robert, like many of us, started looking into investing when he was too broke to afford what he needed. Afterresearching index funds, compound interest, and basic investing, Robert thought, “Why isn’t everyone taught this?” This question inevitably led him to become a CFP (certified financial planner), join The Motley Fool, run the popular “Rule Your Retirement” service, and contribute to the Motley Fool Money podcast.
Robert has been helping people reach their retirement goals for decades, and today, he’s here to help you do the same. This money masterclass will go through all aspects of retirement planning, from 401(k) contributions to individual stock vs. index fund investing, when annuities and bonds make sense for your portfolio, the future of social security, and why you may want to start spending MORE money before you retire.
In This Episode We Cover
Retirement planning 101 and how to get on track even if you haven’t started investing
The good, bad, and ugly 401(k)s and how to know which one YOUR company has
Individual stock investing vs. index funds for a faster-growing retirement portfolio
Inflation-adjusted investments, annuities, and when buying bonds makes sense
The BIGGEST regret retirees have once they’re able to leave work
The EXACT portfolio Mindy and Scott would build for an ample retirement
And So Much More!
Links from the Show
BiggerPockets Money Facebook Group
Finance Review Guest Onboarding
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
Money Moment
FIRE by 50: How to Have FUN on Your Journey Toward Early Retirement by Mark Trautman
Learn More from Robert
Extraordinary Popular Delusions and The Madness of Crowds
J.P. Morgan’s Guide to Retirement
Click here to check the full show notes: https://www.biggerpockets.com/blog/money-466
Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Email us: moneymoment@biggerpockets.com
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When people hear the term “passive income,” their minds usually flash to real estate investing. But, taking on real estate debt may not be the best option for you—especially if you have a high-risk financial portfolio. Instead, you might be better off starting a side hustle that brings in extra dough without huge startup costs or a massive time commitment!
Kayla is a healthcare sales professional who has just bought her first property—a beautiful townhouse that she plans to house hack with a couple of friends. Although she was able to get a loan with a low interest rate from a private lender, there are several risks involved that keep Kayla awake at night. With a hard deadline to refinance the mortgage in five years and a potential recession looming, Kayla must reassess her five-year plan and determine the most viable path to financial freedom. Fortunately, Scott and Mindy are here to help her out!
If you’re feeling a little uneasy about 2024’s recession risk, you won’t want to miss out on the many nuggets of wisdom shared in this episode. You’ll learn the best ways to offset a high-risk portfolio, the importance of building your cash position in case of emergency, and how to supplement your W2 salary with REAL passive income!
In This Episode We Cover
How to offset high levels of risk in your financial portfolio
Supplementing your W2 earnings with passive income opportunities
Side hustle ideas you can start with a few hundred dollars (or less!)
How to get a low-interest mortgage in today’s housing market
Subsidizing your mortgage payment by house hacking
The emergency fund you NEED on hand for a worst-case scenario
And So Much More!
Links from the Show
BiggerPockets Money Facebook Group
Finance Review Guest Onboarding
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
Money Moment
How Anyone Can Easily Make Extra Money Using Side Hustles with Nick Loper
Choosing Side Hustles (& Happiness!) Over Full-Time Employment
Making Money From a Legitimate Side Hustle With Mark Wills
More Money in Less Time: How to Start a Profitable Side Hustle
Click here to check the full show notes: https://www.biggerpockets.com/blog/money-465
Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Email us: moneymoment@biggerpockets.com
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HGTV’s Heather and Tarek El Moussa have built an empire that any entrepreneur would be jealous of. They’ve collectively flipped over a thousand homes, started syndications with tens of millions of dollars invested, have a TV show that rakes in money for them to flip more houses, AND they do it all while raising a family. And while they’ve created the life they’ve always dreamed of, some unintended side effects have recently emerged that make things less-than-glamorous.
We’ll touch on the recent “drama” in today’s episode, but before we do, Heather and Tarek break down precisely what they did to build the business they own today. And if you’ve ever thought of flipping houses before, Tarek gives invaluable advice on finding deals, hiring (and firing) contractors, why he’s spending more money than EVER before on renovations, and how you too can build a multi-million dollar house flipping business.
But that’s not all. After a recent slew of negative press, Tarek finally breaks the silence on a recent deal gone wrong and gives the story none of the news outlets would share on how he’s handling a barrage of tenant complaints, online harassment, and even death threats.
In This Episode We Cover
How the El Moussas flipped over one THOUSAND homes across California
Finding house flipping deals and how to see the “potential” in a hideous home
Wholesaling real estate and why Tarek was forced to stop flipping
Why Tarek sees “rough times” ahead and how YOU must pivot if you invest
On-air “drama,” how much of it is real and raw, and the effects it has on Heather and Tarek
Tarek’s recent deal gone wrong and how he’s doing everything he can to make it right
And So Much More!
Links from the Show
BiggerPockets Money Facebook Group
Finance Review Guest Onboarding
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
Money Moment
Hear Tarek on the “BiggerPockets Real Estate” Podcast
Flipping Houses: How to Get Started and Everything You Should Know
Click here to check the full show notes: https://www.biggerpockets.com/blog/money-464
Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Email us: moneymoment@biggerpockets.com
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Teaching your kids about money is one of the most CRUCIAL parts of parenting. So why do so many Americans completely neglect financial literacy for kids? Is it too awkward of a subject? Do parents feel like they don’t even grasp personal finances themselves? What happens if YOUR kid goes into the world with zero money mastery? If you have children, grandchildren, nieces, nephews, or loved ones with kids, THIS is what you MUST teach them.
Instead of Mindy and Scott telling you what they taught their kids, Katie Trautman comes on the show to share what her FIRE father taught her about money. You may recognize Katie’s name; her father, Mark, was on the show just a few months ago. Mark was able to retire at age fifty, get Katie through college debt-free, and travel to his heart’s desire. He taught Katie some crucial personal finance lessons many of us never learned.
From saving to spending, investing, retirement accounts, and more, Katie goes through some of the top lessons her father taught her about finances before she left the house. Katie is about to start her first full-time job, and with a healthy emergency reserve, full retirement accounts, and the right money mindset, she’ll show you how she plans to retire earlier than her father even though she JUST started working.
In This Episode We Cover
Financial lessons you MUST teach your children before it’s too late
How to fund your child’s college through tax-advantaged investing accounts
Allowances and how to entice your child to save more than they spend
The “20%” rule that Katie has ALWAYS followed to set herself up for financial success
Why your kids SHOULD know how much money you make, save, and spend
The one thing Katie wishes she could change about growing up in a FI family
And So Much More!
Links from the Show
BiggerPockets Money Facebook Group
Finance Review Guest Onboarding
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
Money Moment
FIRE by 50: How to Have FUN on Your Journey Toward Early Retirement with Mark Trautman
Tracy Coenen (Forensic Accountant) Part 1
Tracy Coenen (Forensic Accountant) Part 2
5 Ways to Teach Your Kids About Finance & Investing
Click here to check the full show notes: https://www.biggerpockets.com/blog/money-463
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 reach FIRE long before you’re sixty-five? If you make a decent income, invest diligently, and watch your spending, you STILL could fall into the “trap” most FIRE-chasers find themselves in. By making one BIG mistake, you could be accidentally forcing yourself to work for years or decades longer to finally retire, even if you’ve reached your FIRE number! What “trap” are we referring to, and how do you ensure you’ll hit FIRE on your schedule? Stick around to find out!
Today, we talk to Chris, who works in medical sales and makes an income anyone would be happy to have. He lives in a high-cost-of-living area with a million-dollar home, expensive property and state taxes, and high expenses. But he still saves a solid amount of income every month. What’s he doing with his extra cash? Investing in index funds, generously donating, and…saving to buy into a franchise?
This franchise investment could make Chris millions, but there are a few red flags that Mindy and Scott can’t ignore. With a substantial initial investment and a partnership that could be tested at any point, Chris wants to know the best place to deploy his ample capital. Does he go head-first into the franchise, stick with index funds, or build robust retirement accounts? And with a FIRE timeline of ten years or less, how does he ensure he'll have enough money to support his lifestyle?
In This Episode We Cover
The common FIRE “trap” that could force you to work for far longer at your job
Investing in retirement vs. after-tax brokerage accounts and which to focus on for FIRE
How to access retirement funds even earlier if you decide to retire early
Investing in a franchise and what you MUST know before you put your money into one
The perfect FIRE portfolio and how to allocate your investments to support your early retirement lifestyle
Building/buying your forever home and when to put it off to invest
And So Much More!
Links from the Show
BiggerPockets Money Facebook Group
Finance Review Guest Onboarding
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
Money Moment
Accessing Retirement Funds Before Age 59½ with The Mad Fientist
Franchises 101: How to Find, Fund, and Profit from Owning a Franchise
How to Access Retirement Funds Early
Click here to check the full show notes: https://www.biggerpockets.com/blog/money-462
Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Email us: moneymoment@biggerpockets.com
Learn more about your ad choices. Visit megaphone.fm/adchoices
See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
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