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    Business

    BiggerPockets Money

    For those who have money… or want more of it!

    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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    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.

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    Latest Episodes:
    399: Financially Free in 10 Years by Using Real Estate the Right Way Apr 07, 2023
    Show notes

    Want to retire early in your 30s? Early retirement may be closer than you think. With smart money moves, intelligent investments, and the ability to save more than you spend, you could trade forty-hour work weeks for full days with your family. But, before you do, you’ll need to set yourself up with some killer cash flow, so your assets can pay for your lifestyle while you sit back and enjoy ultimate time freedom.

    This is exactly what Jenny Bayless did over the past ten years. After college, Jenny was able to score a well-paying job but realized only a few months in that the “work for forty years, retire at sixty-five” plan wasn’t worth the grind. So, shestarted aggressively saving, doing whatever she could to get into her first property. From there, she stumbled upon the BRRRR strategy of real estate investing, allowing her to recycle her cash to buy more properties in far less time than it took to save up for a down payment.

    In this episode, Jenny explains precisely how this method led her to financial freedom, what FIRE-chasers in 2023 can do to retire even earlier, and why EVERYONE should have a financial exit plan, no matter how much they love their work. Jenny’s repeatable system to financial freedom through real estate isn’t as complicated as you might think, and she gives three crucial tips that, when followed, will lead to FIRE even faster!


    In This Episode We Cover

    How to retire in ten years (or less!) by using the BRRRR investing method

    Leaving your W2 and how to know it’s the right time to walk away from a paycheck

    Three tips ANYONE can follow to hit financial freedom faster

    “Failing forward” and why those that make mistakes are the ones who get ahead

    Cash-out refinances and how to recycle your down payment funds to buy more property

    Life after FIRE and why you’re still allowed to make money even when retired early

    And So Much More!


    Links from the Show

    BiggerPockets Money Facebook Group

    BiggerPockets Forums

    Finance Review Guest Onboarding

    Scott's Instagram

    Connect with James

    Listen to All Your Favorite BiggerPockets Podcasts in One Place

    Apply to Be a Guest on The Money Show

    Podcast Talent Search!

    Subscribe to The “On The Market” YouTube Channel

    Listen to The “On The Market” Podcast: Spotify, Apple Podcasts, BiggerPockets

    Money Moment

    Meet Scott and James at BPCon2023

    Grab The Book on “Investing in Real Estate with No (and Low) Money Down”


    Click here to check the full show notes: https://www.biggerpockets.com/blog/money-399


    Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Let us know!

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    398: How to Change Your Financial Life with a Money “Reset” Apr 03, 2023
    Show notes

    For so long, early retirement has been THE goal of those chasing financial independence. Can you imagine waking up with unlimited time, not having to work, and reporting to no one but yourself? Now imagine that day in and day out. Before long, the luster of never working gets to you, and that's because if you've achieved financial independence, the regular type of "retirement" just won't work. But what if you could restart your career, do something you REALLY cared about, or build your dream business?

    Jill Schlesinger, author of The Great Money Reset: Change Your Work, Change Your Wealth, Change Your Life, has redefined what FIRE should mean. Instead of financial independence, retire early, she's opting for financial independence, new endeavor. Now, those skills you've been building for decades can be put to good use, working how much you want, for who you want, and doing what you want.

    But what if you're not at financial independence yet? What if you're stuck feeling miserable in a job, slogging your way to retirement? Jill suggests performing a "money reset." Through a five-step system, you'll see where you stand financially, what's important to you, and how to change your life entirely so you can stop doing what you must and start doing what you love. Whether you're retired, retired early, on the path to FI, or don't know where to start, Jill's money thoughts will rock your financial world.

    In This Episode We Cover

    Why you (probably) AREN'T pursuing your dreams, and whether money is REALLY the issue

    Resetting your career and why it's a smart move to make MULTIPLE times in life

    The FINE alternative to the FIRE movement, and why working after early retirement is a blessing, not a curse

    The 'Fabulous Five" that will give you an overall picture of your financial health and money wealth

    How to perform a "money reset" no matter what stage you're at in life (or how much money you have)

    And So Much More!

    Links from the Show

    BiggerPockets Money Facebook Group

    BiggerPockets Forums

    Finance Review Guest Onboarding

    Mindy's Twitter

    Henry's BiggerPockets Profile

    Henry's Instagram

    Listen to All Your Favorite BiggerPockets Podcasts in One Place

    Apply to Be a Guest on The Money Show

    Podcast Talent Search!

    On The Market

    Subscribe to The “On The Market” YouTube Channel

    Listen to The “On The Market” Podcast: Spotify, Apple Podcasts, BiggerPockets

    Check Out Mindy’s 2022 Live Spending Tracker and Budget

    Money Moment


    Click here to check the full show notes: https://www.biggerpockets.com/blog/money-398


    Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Let us know!

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    397: Estate Planning, Wills, and What to Do NOW to Protect Your Heirs Mar 31, 2023
    Show notes

    Financial freedom allows you to do what you want, when you want, and with who you want. But it’s not just for lounging in hammocks or jet-setting around the world. When tragedy strikes, a sudden loss occurs, and you need time to spend with your family, friends, and loved ones, financial freedom becomes the bedrock of what helps you recover. This is why the option to retire early is so crucial for the everyday American; you never know when you’ll need to take some time for yourself.

    Jordan Klint, former guest on episode sixty-three, achieved financial freedom at a surprisingly young age, with five children to boot! His time freedom and ability to live on his terms was an added bonus the last time we talked to him, but now, we understand that it was necessary for Jordan to keep sane during the past year. Jordan’s family went through a significant tragedy, resulting in the loss of not one but multiple relatives all at once. This was an incredibly hard time for Jordan and his family but has allowed him to reflect on what FIRE-chasers need to do to ensure their families are protected when they pass.

    While this episode does bring up some difficult points, it’s full of extremely useful tips that Jordan used to get his family’s finances together. We get into estate planning, why you need a will, life insurance, car insurance, and the “emergency binder” that EVERYONE should have. Don’t wait until the unexpected happens. If you’re building wealth, you NEED to put these plans in place.


    In This Episode We Cover

    Estate planning 101 and why trusts, wills, and other documents can protect your family’s wealth

    Self-care, mental health, and why investing in your friends is so important

    Life insurance and why buying a policy is crucial for family members who rely on you

    Financial planners and how to use their expertise to help you structure an after-passing plan

    Early retirement and how Jordan was able to take time to recover and recharge

    Jordan’s post-retirement portfolio and how he’s spending his days after reaching financial freedom

    And So Much More!


    Links from the Show

    BiggerPockets Money Facebook Group

    BiggerPockets Forums

    Finance Review Guest Onboarding

    Mindy's Twitter

    Listen to All Your Favorite BiggerPockets Podcasts in One Place

    Apply to Be a Guest on The Money Show

    Podcast Talent Search!

    Subscribe to The “On The Market” YouTube Channel

    Listen to The “On The Market” Podcast: Spotify, Apple Podcasts, BiggerPockets

    Check Out Mindy’s 2022 Live Spending Tracker and Budget

    Money Moment

    Hear Our Last Episode with Jordan

    Everything You Need to Know BEFORE You Invest in Syndications

    Grab the “Emergency Binder”


    Click here to check the full show notes: https://www.biggerpockets.com/blog/money-397


    Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Let us know!

    Learn more about your ad choices. Visit megaphone.fm/adchoices

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    396: The Investments That Will Give You COMPLETE Time Freedom Mar 27, 2023
    Show notes

    You want to retire early, but odds are, you think that you can’t. Whether it’s a high-stress job, a business that requires your full attention, or just the belief that you MUST be working, most Americans don’t think they can regain their time freedom. But most people don’t know about “lifestyle investing.” Instead of trying to be the wealthiest investor with the biggest house, fastest car, and most money in the bank, lifestyle investing asks, “what do you TRULY need to be financially free?”

    And there’s no one better to answer this question than Justin Donald, author of The Lifestyle Investor: The 10 Commandments of Cash Flow Investing for Passive Income and Financial Freedom. Justin redefined what it means to be rich by focusing on time, not money, as the most important metric. He went from working as a stressed-out business owner to having complete time and financial freedom simply by putting the lifestyle he wanted before everything else. And he has a lot to teach those of us that have yet to hit financial independence.

    Today, Justin will define some of his cash flow commandments, explain why passive income is the most essential investment you can make, and detail how to start living a proactive, not reactive, lifestyle. No matter where you’re at financially, this shift in understanding will help you build the life you love, WITHOUT creating more tasks for yourself to take care of!


    In This Episode We Cover

    Lifestyle investing explained, and why time freedom is far more important than money

    How to find out whether you run your business or your business runs you

    The ten commandments of passive cash flow and where to find it

    Real estate investing and other income streams EVERYONE should know about

    Diversification vs. concentration and which builds wealth faster

    De-risking your investments and how to get money out of any deal your enter

    And So Much More!


    Links from the Show

    BiggerPockets Money Facebook Group

    BiggerPockets Forums

    Finance Review Guest Onboarding

    Mindy's Twitter

    Jamil's Profile

    Listen to All Your Favorite BiggerPockets Podcasts in One Place

    Apply to Be a Guest on The Money Show

    Podcast Talent Search!

    Subscribe to The “On The Market” YouTube Channel

    Listen to The “On The Market” Podcast: Spotify, Apple Podcasts, BiggerPockets

    Check Out Mindy’s 2022 Live Spending Tracker and Budget

    Money Moment

    12 Ways To Make Passive Income From Real Estate Investing


    Click here to check the full show notes: https://www.biggerpockets.com/blog/money-396


    Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Let us know!

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    395: Finance Friday: House Hacking, Side Hustles, and the Path to FI by 45 Mar 24, 2023
    Show notes

    Want to hit FIRE? You’ll need a smart side hustle. We’re talking about income-doubling, cash-printing, serious side businesses that will allow you to leave your job and grow a substantial income stream, so you can invest the rest andreach the early retirement you’ve dreamed of. And for today’s guest, Alex, this is exactly the goal. Alex left college and went straight into the corporate world, only to realize that her potential wasn’t being met and there were alternative income goldmines that she could be chasing.

    So, she got her real estate license as a side hustle, helping buyers and sellers get into and out of homes. Her commissions boosted her income to unforeseen amounts, and now, Alex is sitting on a stack of cash that could help launch her to financial independence. But, even now, with a better job and a serious side hustle, Alex wants to venture deeper into the entrepreneurial realm. The next big dream? Becoming a financial coach for those that want to be in her position.

    But, before she starts, Alex needs help figuring out what to do with the savings account she’s been diligently growing. Should she use it to put twenty percent down on a house hack that would limit her living expenses? Or, is there a savvier, more creative way to finance her next property that could put Alex in a FAR better position? If you’re trying to hit FI before, after, or at forty-five, this episode is one you can’t afford to miss!


    In This Episode We Cover

    Starting your side hustle and boosting your income by turning extra time into money

    Creative financing and how to buy your first property at a rock-bottom mortgage rate

    How to know if you have too much cash (and what to do with it)

    HSAs, IRAs, 401ks, and other retirement accounts you should be throwing cash at

    Becoming a real estate agent and whether or not it’s worth it for the commission checks

    Designing the perfect portfolio for early retirement (even if you’re just getting started)

    House hacking and how to use your primary residence to generate passive income

    And So Much More!


    Links from the Show

    BiggerPockets Money Facebook Group

    BiggerPockets Forums

    Finance Review Guest Onboarding

    Scott's Instagram

    Mindy's Twitter

    Listen to All Your Favorite BiggerPockets Podcasts in One Place

    Apply to Be a Guest on The Money Show

    Podcast Talent Search!

    Subscribe to The “On The Market” YouTube Channel

    Listen to The “On The Market” Podcast: Spotify, Apple Podcasts, BiggerPockets

    Check Out Mindy’s 2022 Live Spending Tracker and Budget

    Money Moment

    Finance Friday: Why “Doing Everything Yourself” is Costing You THOUSANDS

    How to Make Extra Money in 2023: 21 Ideas for Part-Time Gigs & Side Hustles

    From Extreme Poverty to DIY Wealth and 2 Full-Time Incomes w/The She Wolfe of Wall Street


    Click here to check the full show notes: https://www.biggerpockets.com/blog/money-395


    Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Check out our sponsor page!

    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.


    394: Ask the Money Experts: Backdoor Roths, Bad Debt, & When to Fire Your Financial Advisor Mar 20, 2023
    Show notes

    Retirement investing, bad debt, backdoor Roth IRAs, bonds, and starting a business. If you’re just beginning your personal finance journey, this can all seem a bit complicated. Where do you invest first? What should you do with extra cash? And how do you know a financial fiduciary is genuinely looking out for your best interest? Don’t worry; you don’t need all the answers. Just tune in, and listen to what financial expert Amanda Wolfe and Certified Financial Planner Kyle Mast have to say.

    It’s been a few months since we spoke to our go-to money experts. But we’ve been receiving a ton of finance FAQs in our Facebook group. So, we rounded up some of the best and got Amanda and Kyle’s take live on this episode. First, we’ll go over when to pay off bad debt when starting a business and what a “no money down” business really means. Then, Amanda and Kyle give their strong stances on if bond investing makes sense for the average FIRE-chaser.

    You’ll also hear the OPTIMAL way to set up your retirement investing, which accounts are worth hitting first, and the financial order of operations you should follow to optimize your retirement planning. And try not to send your financial advisor this episode because we’ll be discussing when an advisor is and isn’t worth the money and why a commission-based fee structure could be a big red flag when deciding who to invest with. All this (and much more) is coming up in this episode!

    In This Episode We Cover

    The exact way to invest for retirement and which accounts deserve your cash the most

    The backdoor Roth IRA explained and how to invest a MASSIVE amount in one of the most tax-advantaged retirement accounts

    Whether you should pay off bad debt BEFORE starting your own small business

    Investing in bonds and why this “safe” investment might not be worth the lost profit

    HSAs (health savings accounts) and when to get reimbursed for past medical purchases

    Fee-only vs. commission-based financial advisors and why the two are DRAMATICALLY different

    And So Much More!


    Links from the Show

    BiggerPockets Money Facebook Group

    BiggerPockets Forums

    Finance Review Guest Onboarding

    Mindy's Twitter

    Listen to All Your Favorite BiggerPockets Podcasts in One Place

    Apply to Be a Guest on The Money Show

    Podcast Talent Search!

    Subscribe to The “On The Market” YouTube Channel

    Listen to The “On The Market” Podcast: Spotify, Apple Podcasts, BiggerPockets

    Check Out Mindy’s 2022 Live Spending Tracker and Budget

    She Wolf of Wall Street Website

    How MLMs and Pyramid Schemes Trap Average Americans

    Amanda’s Past Episodes: From Extreme Poverty to DIY Wealth and 2 Full-Time Incomes

    Kyle's Past Episodes: A Personal Finance Masterclass

    Retirement Planning During (and After) the Coronavirus with Kyle Mast

    How to Find the Best Possible Certified Financial Planner


    Click here to check the full show notes: https://www.biggerpockets.com/blog/money-394


    Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Let us know!

    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.


    393: SVB's Risky Bailout and The Bank Run “Domino Effect” Mar 17, 2023
    Show notes

    Both SVB (Silicon Valley Bank) and Signature Bank have crashed and burned dramatically over the past week. What once was a few large customers making withdrawals quickly turned into a bank run of epic proportions. Within just a few days, SVB went from one of the largest banks in the United States to one of the biggest bank failures in the nation’s history. But what led to such a fast-paced collapse, and are more banks on the chopping block?

    You don’t need to be an expert economist to understand what happened at SVB and Signature Bank this week. But you will want to hear Dave Meyer’s take on what could come next. With bailouts back on the table, many Americans fear we’re on the edge of a total financial collapse, mirroring what unfolded in 2008. With more and more Americans going on cash grabs, trying to keep their wealth safe from the “domino effect” of bank failures, what should everyday investors prepare for?

    More specifically, for our beloved real estate investors, how could SVB’s failure affect the housing market? Will the Federal Reserve finally be forced to end its aggressive rate hikes? Could money flood into real estate as hard assets become more attractive? Stick around as Dave explains this week’s wild events and what it could mean for the future of the US economy.


    In This Episode We Cover

    SVB’s (Silicon Valley Bank) collapse explained and why it failed so fast

    The bank run “domino effect” that could put other intuitions at risk

    Why a “bailout” happened so quickly, and whether customer funds were secured

    Bond yields and why making long-term investments was a risky bet for SVB

    The future of mortgage rates and how SVB’s failure could lead to fewer rate hikes

    The psychology behind a bank failure and how it affects the entire economy

    And So Much More!


    Links from the Show

    BiggerPockets Money Facebook Group

    BiggerPockets Forums

    Finance Review Guest Onboarding

    BiggerPockets Bootcamps

    Join BiggerPockets for FREE

    Scott's Instagram

    Mindy's Twitter

    Listen to All Your Favorite BiggerPockets Podcasts in One Place

    Apply to Be a Guest on The Money Show

    Podcast Talent Search!

    Subscribe to The “On The Market” YouTube Channel

    Listen to The “On The Market” Podcast: Spotify, Apple Podcasts, BiggerPockets

    Check Out Mindy’s 2022 Live Spending Tracker and Budget

    Dave’s BiggerPockets Profile

    Dave’s Instagram

    How Did A $200B+ Bank Collapse In 48 Hours? Is Real Estate Going To Be Impacted?


    Click here to check the full show notes: https://www.biggerpockets.com/blog/money-393


    Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Let us know!

    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.


    392: Kevin O'Leary: Ultimate Investing Advice from Mr. Wonderful Mar 13, 2023
    Show notes

    Kevin O’Leary (AKA Mr. Wonderful) might be the world’s favorite (and most outspoken) investor. You’ve probably seen him on Shark Tank, where he’s doing deals with startups, putting overconfident entrepreneurs in their place, and often making boring products into billion-dollar companies. Kevin has the Midas touch, or at least it seems that way on television. Still, he doesn’t shy away from mentioning failures and the enormous lessons he’s learned that eventually led him to make hundreds of millions of dollars.

    But before Kevin was Mr. Wonderful, he was just Kevin, the local ice cream scooper who learned a hard lesson about being an employee. After college, Kevin started a production business, which eventually led him to create The Learning Company, a $4.2 billion business that allowed Kevin to enter into a new stage of wealth. Since then, he’s been aggressively investing in (and building) private companies inside and out of Shark Tank. And after investing so heavily and working so hard, Kevin knows EXACTLY what makes a company (and investment) succeed or fail.

    Today, we get a glimpse inside Kevin’s personal investment portfolio, the three things he thinks EVERY entrepreneur should have to make it big, and why diversification is one of the most CRUCIAL ways to build and protect your wealth. You’ll also hear how to invest in startups like Kevin does, why Kevin makes big bets on women entrepreneurs, and how he’s investing during today’s recessionary environment.


    In This Episode We Cover

    Kevin’s investment portfolio exposed and which assets he’s all-in on

    The difference between an entrepreneur and an employee and why Kevin only worked one job

    Why you MUST start tracking your income and expenses unless you want to remain broke

    The three things EVERY investor/entrepreneur needs to make it big

    Why building a portfolio beats investing in single stocks, companies, or ideas

    The government program that could pay you hundreds of thousands if you own a business

    How to start investing in startups and small businesses like Kevin does on Shark Tank

    And So Much More!


    Links from the Show

    BiggerPockets Money Facebook Group

    BiggerPockets Forums

    Finance Review Guest Onboarding

    Scott's Instagram

    Mindy's Twitter

    Listen to All Your Favorite BiggerPockets Podcasts in One Place

    Apply to Be a Guest on The Money Show

    Podcast Talent Search!

    Subscribe to The “On The Market” YouTube Channel

    Listen to The “On The Market” Podcast: Spotify, Apple Podcasts, BiggerPockets

    Check Out Mindy’s 2022 Live Spending Tracker and Budget

    Money Moment

    3 Rules for Crushing It in Business

    Here’s What It Takes to Succeed as an Entrepreneur


    Click here to check the full show notes: https://www.biggerpockets.com/blog/money-

    Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Check out our sponsor page!

    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.


    391: Finance Friday: Why “Doing Everything Yourself” is Costing You THOUSANDS Mar 10, 2023
    Show notes

    Your small business could be the key to financial independence, early retirement, and more income than your W2 is paying you. But, most small business owners don’t understand the best way to grow their income stream. With a DIY mentality, you could be stuck doing the skilled work, answering the emails, picking up phone calls, bookkeeping, and spinning ten plates at the same time while your business fails to grow. Instead, you must step out of the “solopreneur” role and into the “business owner” mindset that can help you quickly make a six-figure income while working for yourself.

    Today’s guest Amy took a big risk, leaving her job to start her physical therapy practice. She’s been slowly building up her income to a stable monthly amount but wants to spend more time on money-making activities in her business and less on administrative work that she could easily hire out. With a few quick calculations, Scott and Mindy devise a scalable way for Amy to start bringing in six figures while outsourcing all the work she doesn’t love.

    And even though Amy wants to make more income, she’s not obsessed with hitting FIRE fast. Instead, she wants a slow path to FI, one where she can focus on raising her son, spending time with her family, and helping the patients that need it most. So if you’re stuck in a small business or side hustle that takes too much time while making too little, stick around for some stellar advice from Scott and Mindy!


    In This Episode We Cover

    The slow path to financial freedom and why you DON’T need to race to retire early

    Small businesses, side hustles, and when it’s worth quitting your job to pursue your passion

    Outsourcing and how to take the most menial tasks off your plate so you can focus on making more money

    Websites, referrals, and other marketing tactics to bring in new business

    Auto loans and the “gray area” of interest rates that EVERY listener should be careful of

    Unit economics 101 and what all solopreneurs need to do to grow a full-on business

    And So Much More!


    Links from the Show

    BiggerPockets Money Facebook Group

    BiggerPockets Forums

    Finance Review Guest Onboarding

    Scott's Instagram

    Mindy's Twitter

    Listen to All Your Favorite BiggerPockets Podcasts in One Place

    Apply to Be a Guest on The Money Show

    Podcast Talent Search!

    Subscribe to The “On The Market” YouTube Channel

    Listen to The “On The Market” Podcast: Spotify, Apple Podcasts, BiggerPockets

    Check Out Mindy’s 2022 Live Spending Tracker and Budget

    Money Moment

    How to Outsource Your Way to Multiple Streams of Income

    The 3 Main Stages of Scaling Your Small Business

    Buying and Growing a Small Business With Little to No Risk

    21 Ideas for Part-Time Gigs & Side Hustles


    Click here to check the full show notes: https://www.biggerpockets.com/blog/money-391


    Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Check out our sponsor page!

    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.


    390: Why Your Whole Life Insurance (Probably) Won’t Ever Profit Mar 06, 2023
    Show notes

    Is whole life insurance a scam or a worthwhile investment? You may have heard us talk about whole life insurance before, but we’d bet we’re not the only ones mentioning it to you. Your financial advisor, business partner, parents, or fellow investors could have also let you in on the “amazing benefits” that only whole life insurance can provide. But how much of this is fact, and how much is fiction? And, if whole life insurance is such a bulletproof investment, why not buy a policy right now instead of investing for retirement?

    We brought on Dr. Jim Dahle, better known as, The White Coat Investor, to explain the truth behind the whole life insurance system and whether or not it really is a scam. Jim started his financial education during his medical school residency after realizing that almost every financial professional was trying to take advantage of him. Whether it was a real estate agent, financial advisor, or accountant, Jim felt like he couldn’t hold his own when in casual conversation with them. So, he beefed up his knowledge of investing and finance and started The White Coat Investor to help doctors, just like him, make sense of their cents.

    Early in his investing career, Jim spent over seven years paying into a high-priced whole life insurance policy, only to realize that he made a negative return. Now, he’s here to educate EVERY investor on what whole life insurance really is, who truly needs it, and the MASSIVE commissions salespeople make when selling you a policy. If you have whole life insurance, you NEED to hear this. And if you don’t, you’ll now understand why it’s pushed so hard on everyday Americans.


    In This Episode We Cover

    Whole life insurance explained, and the real benefit of having a policy

    Term life insurance vs. whole life insurance and which is better bang for your buck

    Sales commission schemes and why whole life insurance policies are so expensive

    The situations when a whole life insurance policy makes sense (and when it DOES NOT)

    The “infinite banking” illusion and why this capital-raising tactic isn’t as clever as it seems

    Rebuttals to make next time your financial advisor pushes a policy on you

    Fee-based vs. fee-only financial advisors and which have your best interest at heart

    And So Much More!


    Links from the Show

    BiggerPockets Money Facebook Group

    BiggerPockets Forums

    Finance Review Guest Onboarding

    Scott's Instagram

    Mindy's Twitter

    Listen to All Your Favorite BiggerPockets Podcasts in One Place

    Apply to Be a Guest on The Money Show

    Podcast Talent Search!

    Subscribe to The “On The Market” YouTube Channel

    Listen to The “On The Market” Podcast: Spotify, Apple Podcasts, BiggerPockets

    Check Out Mindy’s 2022 Live Spending Tracker and Budget

    Money Moment

    How to Find the Best Possible Certified Financial Planner (CFP) for Your Needs with Kyle Mast

    Everything You Never Wanted to Know About Life Insurance (But Absolutely Need To)

    Why All Real Estate Investors Should Have Solid Life Insurance Coverage


    Click here to check the full show notes: https://www.biggerpockets.com/blog/money-390


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