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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.
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Knowing how to budget is one thing. Knowing how to budget for a pricey pregnancy and future family is another. So, how do you smoothly go from a couple used to saving thousands of dollars every month to a family with a slew of new costs added to the budget? First, let’s look at what you’re making, what you’re keeping, and what you MUST have on hand to safely raise a family.
We’ll be doing precisely that with today’s guest John. John and his wife make a sizable income and keep a strict budget with modest expenses. They’re saving a serious amount of money every month, but there’s one massive expense that’s about to be added to their budget. John and his wife have to go the surrogacy route for their first two children, and the price tag isn’t cheap.
With a six-figure cost PER successful surrogacy, John wants to know how to balance his budget with his high student loans about to kick back in. He also wants to invest but knows that could put his surrogacy savings at risk. Even if you’re not going the surrogacy route, this episode is CRUCIAL for any new parent—especially those that still want to achieve FI earlier in life!
In This Episode We Cover
Budgeting for your future family and how to make sure your savings stay risk-free
Surrogacy, expensive pregnancies, and unexpected costs you may have to pay
Student loan debt and how to plan for payments once the pause is over
The BEST savings account to stick your money into today
Active investing vs. passive investing and why rental properties aren’t for everyone
And So Much More!
Links from the Show
BiggerPockets Money Facebook Group
Finance Review Guest Onboarding
Grab Scott’s Book, “Set for Life”
Scott Trench’s Step-by-Step Guide to Building Your Perfect, 1-Page Investment Plans
Hear James on the “On the Market” Podcast
Listen to All Your Favorite BiggerPockets Podcasts in One Place
Apply to Be a Guest on The Money Show
Listen to The Real Estate InvestHER Show
Join The Real Estate InvestHER Community on Facebook
Register for an Upcoming InvestHER Event
Money Moment
Federal Student Loan Forgiveness Update: What Happens Now?
Budgeting for a Baby: The Costs EVERY New Parent Should Expect
Click here to check the full show notes: https://www.biggerpockets.com/blog/money-442
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As an investor, it’s easy to become fixated on cash flow, much like today’s guest at the start of his real estate journey. After realizing he was “house poor” with a mortgage payment larger than he could afford, Eric Garber stumbled upon house hacking. He rented out his basement and used the extra money to pay off his house early. With proof of concept for his newfound house hacking strategy and income from a stable W2 job, everything was going great.
Then Eric’s world came crashing down when his marriage ended and his employer froze his pension plan. Without a prenuptial agreement, his financial fate was left to the state court system. Losing more than half of the assets he had worked tirelessly to grow, Eric found himself back at square one. This time, he was going to do things differently. Rather than pouring his time, energy, and money into paying off his real estate and living off the cash flow, Eric realized the opportunity that could be had by accessing his equity and putting it to work—a revelation that will allow him to retire early, despite the curveballs life has thrown his way.
If you think getting a prenup is “planning for divorce,” you’ll want to hear what Eric has to share in this episode of the BiggerPockets Money podcast. Beyond offering practical financial tips you can put into practice before getting married, he talks about the paradigm shift that allowed him to unlock wealth. He also discusses the investing strategythat allows him to earn truly “passive” income—syndication deals!
In This Episode We Cover
Why you NEED a prenuptial agreement to protect your financial future
One of the most “passive” ways to invest in real estate
Weathering economic downturns by diversifying your investment portfolio
How to do your homework when analyzing a syndication deal
Key financial tips to consider before you get married
And So Much More!
Links from the Show
BiggerPockets Money Facebook Group
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
Listen to The Real Estate InvestHER Show
Join The Real Estate InvestHER Community on Facebook
Register for an Upcoming InvestHER Event
Money Moment
Why You’re (Probably) Wrong About Prenups
ROE over ROI and Why Your “Cash Flow” Number Is Deceiving
Syndications: Everything You Need to Know BEFORE You Invest
Click here to check the full show notes: https://www.biggerpockets.com/blog/money-440
Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Email us: moneymoment@biggerpockets.com
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What should you do if you suspect financial infidelity from a partner? Money is a taboo subject in many marriages, and it doesn’t help that some spouses take a hands-off approach to personal finance. As you might imagine, this can quickly lead to one partner taking advantage of the other. Today’s guest is helping people save their nest eggs by uncovering and proving financial infidelity.
Welcome back to another episode of the BiggerPockets Money podcast! Today, we’re joined by Tracy Coenen, a veteran forensic accountant who investigates fraud, hidden money, and other money “shenanigans” in marriages. Most often, Tracy helps spouses navigate finances during a divorce when emotions are already running high and both parties feel overwhelmed.
Whether you need help unearthing hidden money or getting on the same page with your spouse, this episode is loaded with all kinds of helpful tips, tricks, and resources that will help you get a better handle on your finances. Join Tracy, Mindy, and guest host, Amanda Wolfe, as they discuss the biggest financial “red flags” in a marriage, things to include in a prenuptial agreement, and why the weekly money check-in is so important!
In This Episode We Cover
What to do if you suspect financial infidelity in your marriage
The “fraud snowball” and how to stop it in its tracks
How to uncover hidden money, secret accounts, and secret spending
Why you NEED to form the habit of discussing finances with your spouse
The importance of prenuptial agreements (and what you should include!)
Tips and resources to help you keep a closer eye on your finances
And So Much More!
Links from the Show
BiggerPockets Money Facebook Group
Finance Review Guest Onboarding
Listen to All Your Favorite BiggerPockets Podcasts in One Place
Apply to Be a Guest on The Money Show
Listen to The Real Estate InvestHER Show
Join The Real Estate InvestHER Community on Facebook
Money Moment
Why You’re (Probably) Wrong About Prenups
Money Dates, Prenups, & Combining Finances
Visit Tracy’s Website for More Helpful Resources
Click here to check the full show notes: https://www.biggerpockets.com/blog/money-439
Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Email us: moneymoment@biggerpockets.com
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Only have $100 – $5,000 but want to know how to invest it wisely? No amount is too small to start building smart money habits today. While some asset classes may not be viable for you just yet, there are still all kinds of ways to invest with a modest amount of money. Making the most of what you have now can set you up for a bright financial future.
In this episode of the BiggerPockets Money podcast, Scott and Mindy have brought in reinforcements to discuss the best ways for beginners to invest a small amount of money—whether it’s $5,000 or as little as $100. With four unique perspectives on investing, you’ll find that there are several ways to make your money work harder for you. There is one common message, however: educate yourself and take action!
Not everyone has a large nest egg to throw around. In fact, most Americans live paycheck to paycheck. If you don’t have much money to spare, this is the episode for you. You’ll learn about the investing order of operations, different types of retirement accounts and how they work, and ways to purchase real estate with no money down!
In This Episode We Cover
The best ways to invest with $100, $500, $1,000, $2,500, or $5,000
How to buy real estate with ZERO money down
Different types of retirement accounts to add to your portfolio
Maximizing your 401(k) contributions for a HUGE return on investment
Leveraging debt to fast-track your investing journey
And So Much More!
Links from the Show
BiggerPockets Money Facebook Group
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
Listen to The Real Estate InvestHER Show
Join The Real Estate InvestHER Community on Facebook
Money Moment
Scott Trench’s Step-by-Step Guide to Building Your Perfect, 1-Page Investment Plan
Check Your USDA Loan Eligibility
Click here to check the full show notes: https://www.biggerpockets.com/blog/money-438
Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Email us: moneymoment@biggerpockets.com
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Wedding costs have been slowly growing over the past few decades. But recently, after a wild 2020, 2021, and 2022 wedding season, the average wedding cost has hit heights that most Americans simply can’t afford. But what can you do? Cancel your wedding and go straight to the courthouse? While this isn’t a bad option for some, most couples tying the knot want something their friends and family will remember for years. So, here’s how to do it on a budget!
We brought expert event planner and fundraiser AJ Williams on the show to go over what’s worth it, what’s not, and what couples should spend the MOST money on when planning their special day. Whether you’re getting married at home, stateside, or abroad, there are a few specific expenses of a wedding that you should never skip out on and some that could put you in a tough financial bind. With flowers, DJs, photography, and catering, which deserves a spot in your ceremony?
AJ will also go over how much a wedding costs on average, what the elite pay for their ceremonies and parties (you won’t believe the number), and the top wedding myths that could cost you.
In This Episode We Cover
The average wedding cost in America and why prices have recently been rising
What to cut and what to keep during your wedding day
Budgeting for your wedding and how much of a buffer you REALLY need
Common wedding cost myths and tips to save you THOUSANDS
Non-negotiables when planning your wedding and what is worth paying extra for
And So Much More!
Links from the Show
BiggerPockets Money Facebook Group
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
Listen to The Real Estate InvestHER Show
Join The Real Estate InvestHER Community on Facebook
Register for an Upcoming InvestHER Event
Money Moment
How to Financially Thrive in Marriage (Even if You or Your Partner is In Debt!
Click here to check the full show notes: https://www.biggerpockets.com/blog/money-437
Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Email us: moneymoment@biggerpockets.com
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“Get rich slowly” is a concept that most people in the FIRE community can get behind. “Time off,” on the other hand, seems to go against the idea of grinding to financial independence now and waiting until later in life to enjoy the spoils. Today’s guest is bucking this trend—using his financial freedom to support a “retired” lifestyle that includes traveling the world, discovering new hobbies, and learning new skills!
Welcome back to the BiggerPockets Money podcast! Today, we’re speaking with J.D. Roth, founder of the personal finance blog, Get Rich Slowly. Initially launched to document his quest out of debt, this popular blog helped J.D. fast-track his journey toward financial independence. He now considers himself “retired,” although the more risk-averse person might say it’s a little too soon.
If you’ve ever considered taking some time away from work but fear you don’t have the nest egg to support it, this is the episode you need to hear! J.D. tackles a handful of issues that FI-focused individuals don’t always touch on—including the importance of mental health and using a “mini” retirement to decompress. He also talks about why he’s not worried about his modest portfolio and shares the three five-year plans you need to prepare for any curveball life might throw in your direction!
In This Episode We Cover
How to implement a “mini” retirement on your journey to FIRE
Prioritizing your mental health in a fast-paced, work-first culture
How to take time off from work without blowing your nest egg
A day in the life of someone who is taking a year off from working
Important tips for saving more money and retiring even earlier
And So Much More!
Links from the Show
BiggerPockets Money Facebook Group
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
Listen to The Real Estate InvestHER Show
Join The Real Estate InvestHER Community on Facebook
Register for an Upcoming InvestHER Event
Money Moment
Finance Friday: How Sabbaticals Make You Happier, Healthier, and Wealthier
Click here to check the full show notes: https://www.biggerpockets.com/blog/money-436
Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Email us: moneymoment@biggerpockets.com
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Is early retirement healthcare crushing your budget? Are you tired of getting your standard two percent raise every year? What do you do when a “friend” borrows money and never pays you back? Some personal finance questions aren’t easily answered online. Instead, you need time-tested money experts to give their takes on the best moves to make. And in today’s episode, Mindy and Scott will do just that, taking questions from BiggerPockets Money listeners and answering them so you can reach financial freedom faster.
This time, we’ve got a couple of uncomfortable positions you probably wouldn’t want to be in. One listener has a friend who asked for a loan and then almost immediately stopped paying, with the “friend” never to be seen again. Another question concerns a parent wanting to be paid back for student loans they took out in their name. Mindy and Scott then share a creative way to pay off credit card debt and give options on the BEST place to find post-retirement (but pre-sixty-five years old) healthcare. Finally, Scott puts on his CEO hat and shows you exactly how to ask for a raise!
Got a money question you want to ask Mindy and Scott? Head over to the BiggerPockets Money Facebook group, or click here to submit your question on our next Q&A episode!
In This Episode We Cover
What to do when someone owes you money (and WON’T pay it back)
Student debt and whether or not you’re responsible for the loans your parents took out
Early retirement health insurance and how to find affordable coverage before Medicare kicks in
Knowing your market value and what to do when your employer can’t pay you more
How to ask for a raise and the easiest way to identify whether you’re “essential” or not
Creative ways to pay off your credit card debt when interest rates are high
And So Much More!
Links from the Show
BiggerPockets Money Facebook Group
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
Listen to The Real Estate InvestHER Show
Join The Real Estate InvestHER Community on Facebook
Register for an Upcoming InvestHER Event
Money Moment
Erin Lowry on Asking for a Raise
18 Options for Healthcare in Early Retirement with Lynn Frair
How to Ask for a Raise (and Actually Get It!) w/Kassandra Dasent
Submit your question for our next Q&A episode
Click here to check the full show notes: https://www.biggerpockets.com/blog/money-435
Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Email us: moneymoment@biggerpockets.com
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The last time Ramit Sethi was on the show, tears were shed, money fears were exposed, and Mindy was forced to take a hard look at her financial habits. Now, Ramit is back, as we revisit some of the critical moments of Mindy and her husband Carl’s interview on Ramit’s show, I Will Teach You To Be Rich. In this episode, Mindy challenges the FIRE frugality she’s been stuck on for so long and discovers why more money isn’t always a good thing.
If you’ve ever had a money struggle, whether too much or too little in the bank, Ramit is who you should listen to. His advice goes far beyond the regular “save more than you spend, invest the rest” type of advice you constantly hear from frugal podcasters. Instead, Ramit wants you to maximize your happiness and make the most out of life while not struggling to survive. In short, Ramit wants you to live a rich life, not a frugal one.
If you struggle to spend, pinch pennies, or are dead set on reaching FIRE as fast as possible, this episode is for you.Carl, Mindy, and Scott will go over the common misconceptions about money, debunk the “wasteful” spending myth, explain why you should die with zero, and critique the flaws of the FIRE community.
In This Episode We Cover
Why the FIRE movement is wrong and getting rich should NOT be the goal
What to do when you have lots of money but no time to spend it
How to “Die With Zero” and enjoy your wealth while you’re still here
The “what if I run out” fear and how to get over the dread of overspending
Testing your spending and why you NEED to book that trip you’ve been thinking of
Building a rich life and how to make the most of it with the money you have
And So Much More!
Links from the Show
BiggerPockets Money Facebook Group
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
Listen to The Real Estate InvestHER Show
Join The Real Estate InvestHER Community on Facebook
Register for an Upcoming InvestHER Event
Money Moment
Carl's Email
Ramit Sethi’s Money Advice for Couples: Live a Rich Life, Together
Mr. Money Mustache on Life After FI: The Truth About Retiring Early in Your 30s
Hear Mindy and Carl on “I Will Teach You To Be Rich”
My Death March to Financial Independence
Click here to check the full show notes: https://www.biggerpockets.com/blog/money-433
Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Email us: moneymoment@biggerpockets.com
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Terrified of running out of money in retirement? Countless people share the same fear. With so much recent discourse surrounding inflation and a looming recession, you may have a tighter grip on your money than usual. Today’s guest is here to help cool some of your concerns.
In this episode of the BiggerPockets Money podcast, we’re joined by David Stein from Money for the Rest of Us, who believes there are reasons to be optimistic about the economy and even more reasons to stay on the straight and narrow when it comes to investing. If you’re easily overwhelmed by the thought of investing or choosing the right asset classes, David’s message is clear: investing doesn’t need to be difficult. There are plenty of tools the average person can use to invest, grow their nest egg, and have enough money for retirement. Don’t let fear stop you from putting your money to work!
Whether you’re a novice or long-time investor, you’re in for a treat with today’s episode. Tune in as David addresses several issues—including the current state of the economy, whether we should brace for a recession, and the markets he’s investing in. He also talks about the benefit of steering clear of individual stocks in lieu of ETFs and index funds, as well as when it might be smart to buy an immediate annuity!
In This Episode We Cover
The four-percent rule and how to avoid running out of money in retirement
How current returns on real estate compare to those of other asset classes
The benefit of buying exchange-traded funds (ETFs) and index funds in lieu of individual stocks
Diversifying your investment portfolio to include non-U.S. markets
Three important principles to focus on when deciding where to invest
Buying annuities to lock in an additional income stream during retirement
And So Much More!
Links from the Show
BiggerPockets Money Facebook Group
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
Listen to The Real Estate InvestHER Show
Join The Real Estate InvestHER Community on Facebook
Register for an Upcoming InvestHER Event
Money Moment
Choosing the Right Investment Type for Your Goals with David Stein
Check Out the Latest Five-Year TIPS at TreasuryDirect
Click here to check the full show notes: https://www.biggerpockets.com/blog/money-432
Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Email us: moneymoment@biggerpockets.com
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The gender investing gap is real, but it’s not due to women lacking capital. More often than not, women are saving their money rather than investing in real estate and allowing it to grow. As successful women in real estate, today’s guests are here to break down the reasons for this investing gap and how we can work together to close it.
In this episode of the BiggerPockets Money podcast, we’re joined by none other than Liz Faircloth and Andresa Guidelli, co-hosts of our sister show, The Real Estate InvestHER Show. Like many novice investors, Liz and Andresa both discovered their love for real estate shortly after reading Robert Kiyosaki’s Rich Dad Poor Dad. Years later, both have amassed their own large portfolios and are committed to helping more women dive into the world of real estate investing.
Regardless of gender, there’s something for everyone to take away from this episode. Liz and Andresa share about the unique challenges women investors face today, building your real estate network, and how to find your investing partner. They also deliver some actionable next steps for women who are hesitant to invest, as well as some tips for men who want to be allies for women investors!
In This Episode We Cover
The global economic impact of women investing their capital
The unique advantages and disadvantages women face when investing
How to be an ally for women investors in your sphere of influence
Actionable next steps for women looking to invest in real estate
The importance of community when getting into real estate
How to find the perfect partner for your real estate investments
And So Much More!
Links from the Show
BiggerPockets Money Facebook Group
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
Listen to The Real Estate InvestHER Show
Join The Real Estate InvestHER Community on Facebook
Register for an Upcoming InvestHER Event
Money Moment
Download the FREE Partnership Question Guide
Click here to check the full show notes: https://www.biggerpockets.com/blog/money-431
Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Email us: moneymoment@biggerpockets.com
Learn more about your ad choices. Visit megaphone.fm/adchoices
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