BiggerPockets Money Podcast

By Bigger Pockets | Mindy Jensen & Scott Trench

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Category: Investing

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Subscribers: 844
Reviews: 2


 Nov 18, 2018

Love This Show! A Must-Listen
 Aug 21, 2018
Scott and Mindy do such an amazing job covering so many great approaches to financial freedom and excellence, starting from so many different vantage points, methodologies, investment and cost cutting tactics, it's such a breath of fresh air for the world of financial podcasts!

Description

For those who have money… or want more of it! Join Mindy Jensen and Scott Trench (from BiggerPockets.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 grow wealth.

Episode Date
#78: How to Talk to Your Parents About Money with Cameron Huddleston
01:08:33

Parents are supposed to know everything, and talking about money is impolite. So how do you make sure your parents are taken care of and that their wishes are followed throughout their golden years?

Today Scott and Mindy sit down with Cameron Huddleston, author of Mom and Dad, We Need to Talk: How to Have Essential Conversations With Your Parents About Their Finances, who shares her story of the journey through her mother’s finances pre- and post-Alzheimer's.

Cameron also shares the documents your parents need to have—the documents YOU need to have—to be able to help them navigate their finances as they advance in age. She offers encouragement for continuing the conversation after parents initially say, “That’s none of your business.”

She explains everything from the perspective of someone who has been through the more difficult times of parental financial navigation.

BiggerPockets Money guests have typically focused on their own journey to financial freedom. But this episode provides guidance for starting challenging conversations with your parents. Use Cameron's advice to sit down with them and make sure their wishes are followed.

In This Episode We Cover:

  • Cameron's journey with money
  • Got $1 a week and saved money to buy model horses
  • How she fell into the world of personal finance writing
  • Worked as a reporter before transitioning into the personal finance field
  • Learned about money once she started writing about personal finance
  • The importance of having a will
  • How she reconciled the shift with her parents
  • How to start the conversation with your parents
  • Scenarios to open the door to more conversations with your parents
  • What you can do if your parents say their finances are none of your business or don't want to share any information with you
  • Overview of key things to have in place as far as what your parents should have
  • Legal documents—a will or a living trust
  • Power of Attorney Document
  • Living will or advance directive
  • Long-term care insurance
  • Resources people can go to to get professional help
  • The importance of meeting with an attorney
  • Where people can find an estate planning attorney
  • Some of the fights that occur when there is a lack or prep and how to avoid this
  • The difference between old people’s home and retirement community
  • Mistakes to avoid as parents go into retirement or begin to age
  • And SO much more!

Links from the Show

Jun 24, 2019
#77: Entrepreneuring Your Way To Financial Freedom with Pete Mockaitis
57:28

Pete Mockaitis grew up in the cheapest place to live, Danville, IL. He watched his mother work her way up the local credit union ladder from teller to CEO, simply by doing more than necessary, repeatedly.

His mother strongly discouraged debt, having seen so many of the credit union’s customers declare bankruptcy and have their entire bank accounts wiped out.

As a kid, he saw firsthand that hustle pays off. He helped his brother with his paper route for a quarter, only to learn his brother was making $1.80.

After high school, he got into college on a full ride scholarship, and graduated into his dream job with Bain & Company. He saved money by skipping the little things like taking a cab when he could walk, having roommates instead of living alone, and drinking water instead of ordering drinks when he was out.

Pete’s true calling was entrepreneurship. To prepare for the jump to self employment, he figured out his burn rate - and discovered it was a lot lower than he originally thought. By figuring out how much he was spending, and computing the value of his pre and post tax time, Pete optimized his path to Financial Freedom, and is now enjoying the fruits of his labor.

In This Episode We Cover:

  • Pete's journey with money
  • Lessons he learned from his mother
  • How he applied the lessons he learned in his approach to early financial freedom
  • How he pursued early financial freedom
  • On growing up frugal
  • Why it took him 3 years to save a year’s worth of living expenses
  • His advice for people who would like to try the entrepreneurial route
  • The importance of being smart with your savings
  • On being real and quantitative
  • On tracking recurring and non recurring expenses and breaking it down into dollars per day
  • On his revenue generation
  • His advice on building revenue
  • On investing
  • And SO much more!

Links from the Show

Jun 17, 2019
#76: How to Talk to Your Partner About Money With the Debt Free Guys
01:17:05

John and David didn’t have "the money talk" right away. They both worked in the financial industry, and each thought the other would be great with money. About a year and a half in, they discovered they were both AWFUL with money. Both had lots of debt with no real plans to pay it off.

Enter the spreadsheet.

David is a self-professed numbers nerd. He entered every expense from the last 12 months into a spreadsheet and discovered some shocking spending habits in several categories. These were places they could easily cut their spending so they could start paying down their debt.

And like everyone else who finally figures out money, they hit it hard—planning menus, making grocery lists, and clipping coupons. (They didn’t buy anything they didn’t have a coupon for!)

Rather than the debt snowball or debt avalanche methods, they approached their debt paydown with a new method: the debt lasso. They gathered up all their debt—mostly credit card—transferred it to 0% interest cards, and hit the payments hard.

In the process, David and John discovered that no one is talking about money in the LGBTQ community. So they set out to change that, opening up the topic to help their community stop being fearful of money and start aligning their spending with their values.

In This Episode We Cover:

  • David and John's journey with money
  • How they amassed such a huge debt
  • Having a "money" conversation in regards to their expenses
  • The importance of having a conversation about what their life goals are
  • Cut about $30,000 of food spending a year
  • Using the spreadsheet and looking at their net worth each month
  • Paying off the smallest loan and gaining momentum
  • Debt Snowball versus Debt Avalanche
  • Their investment approach after their paying off their debt
  • Built up emergency savings of $1,000
  • Ways to get yourself out of debt (by spending less than you make!)
  • Why people are afraid to talk about money
  • And SO much more!

Links from the Show

Jun 10, 2019
#75: The Most Efficient Path to Financial Freedom With Justin From Saving Sherpa
01:01:47

Justin grew up without a lot of money in a small town. His parents divorced when he was eight, and his mother eventually quit her job to attend school. Necessity is the mother of invention, and a year of no income led to some very creative ways to squeeze more value out of every dollar.

This "invention" stayed with Justin for his entire life, and he applies it to every facet of his finances. From his very low rent (in a high rent area) to his ridiculously low grocery bills to collecting travel rewards points, Justin gamifies every cent he spends.

Today we hear how Justin actually made money from his college scholarships and military stipends, how he negotiated a smoking deal on his rent, and how his five tenets of grocery shopping pay off.

Justin calls this "the lazy path to financial independence," but really he’s just being incredibly efficient with his resources.

If you’re looking to cut expenses, listen to this show with a notepad handy.

In This Episode We Cover:

  • Justin's journey with money
  • The idea of squeezing the amount of a dollar and cutting something out of your life
  • Joining the military through the ROTC program and getting free tuition from the government
  • What a career starter loan is and what his decision-making process was
  • What his position looks like after going to college
  • The moment he got serious about creating wealth
  • The reason he is still very unhappy after achieving his goals
  • The first investment he made
  • On his expenses
  • How he lived on $24,000 a year in Boston
  • What's inside his sacred freezer
  • The importance of getting to know your specific local grocery store
  • His commandments on groceries
  • On saving $69,000 a year
  • Investing in real estate
  • On retirement
  • How he found his apartment
  • And SO much more!

Links from the Show

Jun 03, 2019
#74: Making Money From a Legitimate Side Hustle With Mark Wills
50:36

Side hustle is a big topic on BiggerPockets. But finding the right one—and one that isn’t a scam—can be difficult.

Today’s episode focuses on not only a legitimate side hustle, but also one that involves real estate AND can be as much or as little as you want it to be. Best of all, the most popular time to use this side hustle is at night and on the weekends.

Signing agents work when their clients don’t—meaning they’re busiest at night and on the weekends—perfect for an actual side hustle. Startup costs are extremely low. They hover around $1,000. Working four to six jobs will pay off your initial investment!

Mark Wills shares what you need to get started and how to find jobs once you’re all ready to go.

If you’re looking to generate extra income, this episode is right up your alley.

In This Episode We Cover:

  • What a notary signing agent is
  • The only requirement to become a signing agent
  • How he became one
  • What signing services exist for
  • Biggest skillset you need to be a notary signing agent
  • Startup cost when doing appointments
  • On doing 10 to 15 appointments a day
  • Who are not ideal candidates for the position
  • The importance of paying attention to details
  • On getting a notary commission
  • The importance of taking a course to become a notary signing agent
  • Other ways to make money through notary commissions outside of loan signing
  • Kind of salary for signing appointments
  • Attorney states versus escrow states
  • And SO much more!

Links from the Show

May 27, 2019
#73: Ramit Sethi Will Teach You to Be Rich!
01:33:01

Ten years ago, Ramit Sethi released his groundbreaking book I Will Teach You to Be Rich. Now he’s back, with an all-new, updated version, delivered with the same authority and enthusiasm as the original.

But wait, there’s more—MUCH more! Ramit has completely revamped this book. There’s over 100 brand new pages of content!

Mindy and Scott talk to Ramit about his take on the FIRE movement, what "rich" means to him, and his opinion of real estate as an investment.

When you’re looking for excuses to not get started repairing your finances and living your best life, you’ll find them everywhere. But when you’re ready to get your financial life in order and grow your wealth, Ramit's book will not only help you define the term "rich," but will also give you the tools to get there—without the guilt, without the B.S. It's just a six-week program that works.

In This Episode We Cover:

  • What rich means to Ramit
  • Tips on how to be rich for people who are living paycheck to paycheck
  • What a CEO strategy is
  • His advice on cutting off spending
  • What a tripod of stability is
  • On his investment portfolio
  • The concept of the one-year emergency fund
  • The $3 question versus the $30,000 questions
  • What people mostly do with their money
  • Things to do to stay on track with your goals
  • How to talk to your partner about money
  • His favorite thing about FIRE
  • What a hot to cool concept is
  • On increasing his income and negotiating his raise
  • The psychology of negotiation
  • Negotiation role-play
  • What a briefcase technique is
  • The difference between the first and second editions of I Will Teach You to Be Rich
  • Mistakes he made in his first book that needed to be updated
  • Why he is not a fan of real estate investing
  • Scott and Mindy’s real estate decision-making
  • And SO much more!

Links from the Show

May 20, 2019
#72: Increasing Your Income Through Commissions With Dawn Brenengen
01:10:47

Dawn Brenengen’s money story begins a bit differently than most. Dawn’s parents shared their finances with her. She knew what things cost, she knew her parents worked hard to pay off their mortgage, and she saw her mother writing checks to pay bills every month.

She went to college and graduated with relatively little debt—around $21,000 in student loans and credit cards combined. After graduation, she stayed at her low-paying college job until her father suggested she get a real estate license.

Dawn completed the work for the license and got a job making almost the same money, working for a builder and selling their new homes. But she was the assistant to the agents who were making the BIG BUCKS, and she knew that’s what she really wanted to be doing.

At the time, real estate agents were eligible to take the test to open up their own brokerage simultaneously with the licensing test, so she did that. While working as an assistant, she laid the groundwork to strike out on her own, eventually ramping up her income to multiple six-figures—with virtually limitless potential.

Here Dawn share her story of how hard work and determination paid off tenfold—and all in just four short years!

In This Episode We Cover:

  • Dawn's background with money
  • How she grew up in a financially literate household
  • The debts she accumulated during and after graduating college
  • How she paid off her debts
  • Is it possible to invest your student loan?
  • What happened after she got her real estate license
  • How she got serious about making money and building her financial position
  • Having a goal to get a job where she was making a bulk of the commission
  • Started her own brokerage business on 2010
  • People she recommend to hire out on starting a business
  • How much time and money needed on starting a business
  • The benefits of having a business partner
  • Applying all the money she makes in terms of her wealth building philosophy
  • Dawn's investment approach
  • Private lending on her surplus cash
  • What a private lending is
  • Her annual spending and her income
  • And SO much more!

Links from the Show

May 13, 2019
#71: 5 Years to Financial Freedom Through Real Estate Investing With Sarah P.
01:09:21

Like so many of our guests, Sarah P. did not grow up understanding how money works. She wasn’t bad with money, she just wasn’t very good with it.

She learned about financial independence through Mr. Money Mustache and completely revamped her finances, incorporating frugality and minimalism with investing to completely fund her lifestyle. Her goal was security, and financial freedom made a lot of sense.

Real estate was intriguing, and Google kept directing her to BiggerPockets. She started buying real estate, eventually accumulating 14 units in three states over the course of four years.

Sarah cemented her success by having a large cash cushion to shield her from the surprises that real estate throws at you—a trait most successful real estate investors have.

Making smart, money-conscious decisions allowed her to retire at the age of 30 from traditional work, so she can now spend time doing what she loves without regard to how much it pays.

Sarah and her husband are truly living their best lives because passive real estate investments fund everything they do.

In This Episode We Cover:

  • Sarah's journey with money
  • How she discovered Mr. Money Mustache
  • Having security as her financial blueprint
  • Her financial position before she discovered financial independence
  • Being conscious of the purchases she makes and officially retiring at 30
  • What their annual spending looks like
  • Other investments they have and creation of their real estate portfolio
  • How she financed her first townhouse
  • Total number of properties she owns
  • The importance of having cash reserves
  • Her recommendation to anyone who doesn't have a huge reserve
  • Her total lifestyle expenses once her mortgage is eliminated
  • Their healthcare plans
  • And SO much more!

Links from the Show

May 06, 2019
#70: 7 Tips for Successfully Investing in ANY Market Condition With J Scott
01:26:43

J Scott is a successful real estate investor (to say the least). But he’s also a student of the markets—and his studies have shown him that we are teetering near the top of this current real estate cycle.

In this week’s episode, J shares three reasons why he believes we’re at or near the peak based on past market cycles, and he details seven things investors should be doing to prepare for a softening market.

His number one piece of advice? Educate yourself!

J brings his A-game in this episode, just like he does with every other podcast he's featured on. And make sure to stick around until the very end of the show for a special BiggerPockets announcement you'll definitely want to hear!

In This Episode We Cover:

  • Reasons J believes a market crash is coming
  • On the 33 case studies of what economic cycles look like
  • Talking about the last 2 recessions
  • J Scott's analogy with economy to the seasons
  • Phases of the economic cycle and indicators he knows the market is on the peak
  • What a yield curve and GDP is
  • The reason why the price drops in the market
  • How can someone who is considering jumping into the real estate market invest with confidence
  • What might happen in the next recession of the market
  • How does a newbie investor get affected by the potential of being on peak phase of the economic cycle
  • What should people be doing now in preparation for the next phase
  • The importance of building credit and paying your debt on time
  • His recommendations for someone who is investing right now
  • The biggest mistake he sees people make
  • And SO much more!

Links from the Show

Apr 29, 2019
#69: From Near Death To Debt Free With Liz from Chief Mom Officer
01:05:28

Liz has always been a frugal gal and self-proclaimed personal finance nerd. Discovering The Wealthy Barber as a teen cemented her course down the financial independence path, even if there wasn’t a formal name for it at that time.

And it’s a good thing for her family that she was so frugal - a botched surgery for her husband turned a routine procedure into a nightmare that involved a coma, a month in the hospital and years of recovery. Without her financial savvy, her family could have been financially ruined!

Now, 7 years later, she has paid off her house and replenished her emergency fund using a Tiered Emergency fund that allows her maximum liquidity while also maximizing her earnings on those funds. Her unique plan combines online savings with CD ladders, savings bonds and money market funds.

Liz explains just how important it is to her family to have the peace of mind a paid-off mortgage can provide, and how planning for unforeseen events is truly the best course of action.

 

In This Episode We Cover:

  • Liz’s background story
  • On being smart with money throughout her 20s and 30s
  • What happened after her husband's surgery
  • On her work and immediate debt consequences while working towards financial independence
  • On having the mindset of saving for retirement, for college, and for an emergency fund
  • Having various accounts: Flexible Spending Account, High-Deductible Health Plan, Health Savings Account, & Health Reimbursement Account
  • Learning financial independence through the book "The Tightwad Gazette"
  • How she cuts off their expenses and the free entertainment they did
  • Paying off their house for financial security
  • The importance of not depending on stocks
  • Tiered emergency plan
  • On the concept called college compact
  • Her philosophy on paying his son's college
  • Financial independence retirement elective
  • And SO much more!

Links from the Show

Apr 22, 2019
#68: Hacking Your Military Benefits to Become Financially Free With J Grayson
01:22:07

J Grayson grew up poor. But with food on the table every night, he didn’t realize it.

Then his sister tragically passed away from brain cancer, financially ruining the family.

J fell into a pattern: skipping school, drinking, and doing drugs. A few years of this and he realized he needed to make a change. J joined the military when he turned 18 and went to boot camp before his high school graduation ceremony.

The military is where his poor money habits really took shape. Living on base means housing and food is covered, so he spent his income on anything he wanted—at one point having FIVE CARS despite only being able to drive one at a time.

He stayed in the military for five years and knew enough to go to college when he got out. What the military didn’t cover, the Yellow Ribbon Program did, so he left college debt-free (at least in terms of student loans). However, J did manage to rack up $30,000 in random debt by the end of college.

J eventually settled into a government job. By year two, he had discovered the concept of financial freedom.

This week’s episode focuses on hacking—house hacking, GI bill hacking, per diem hacking—taking these benefits and using them in ways that are advantageous.

If you’re a member of the military, a government employee, or even just an employee who travels regularly, this episode is for you! And if you know someone who fits that bill, share this episode with them.

In This Episode We Cover:

  • His background and money journey
  • The reason he joined the military at 18
  • His experiences in the military and his poor financial decisions during that time
  • What he did after he exited the military
  • On using his 401(k) funds to pay off debt
  • Starting a business while going to school
  • What GI Bill hacking is
  • Stumbled across Mr. Money Mustache and learned financial independence
  • What his financial position looked like during his first year of employment
  • How he learned about geoarbitrage
  • Making money through house hacking
  • How investing helped him
  • On using a VA loan for his house
  • On saving 100% of his income
  • Going from zero to $100,000 in just three years
  • How he and his girlfriend managed to live with zero expenses
  • And SO much more!

Links from the Show

Apr 15, 2019
#67: How Living An Intentional Life Led to Financial Freedom With Steven Donovan
01:13:51

Steven Donovan graduated from high school and went to college—because that’s what you do. He graduated from college but got cold feet when it came time to get a “real job.” So, he bounced around random jobs with no plan and no focus.

Despite his degree in finance and about $60,000 in student loan and credit card debt, he returned to the golf course that he’d been working at throughout high school and college. He also regularly played poker at a local casino, all while deferring and avoiding making any payments on his debt.

Eventually he got his first "big boy job" at a bank; however, he still wasn't making much headway on his debt. In fact, he just kept adding to it. He ended up buying a Mercedes, quitting his job, and moving to Florida to be near his long-distance girlfriend.

But Florida didn’t work out, so he moved back home. He went back to the golf course until he found another job at a bank, moved into the city, and sold the Mercedes—at a loss, of course.

Once he got married, he began to tackle his debt. Slowly at first, bringing lunch one day a week, then two, and eliminating takeout coffee. He started "frugaling" his way out of debt, adopting a rock bottom budget in order to finally rid himself of the burden.

Steven paid off his debt in five years, in fact, while house hacking a Chicago triplex and renting his wife’s house in Florida.

They’re now debt-free, and they achieved it in a completely repeatable way, which is what makes this episode so great!

In This Episode We Cover:

  • Steven's money journey
  • How he managed his personal money and student loan
  • What his college lifestyle was like
  • The evolution of his financial position between graduation and employment
  • His experience purchasing things from Nike outlets and selling them on eBay
  • The moment he figured out his goals
  • How he purchased his Mercedes Benz and what happened after he purchased it
  • His financial and job situation going into marriage
  • The reason he and his wife have separate bank accounts and paid their own debts separately
  • The importance of having a frugal mindset and a plan for everything
  • How he got into house hacking
  • Exactly how he paid off his debts
  • How he started investing and building assets
  • Biggest reasons people worked with him
  • How important an unbiased third party is
  • And SO much more!

Links from the Show

Apr 08, 2019
#66: Investing, Freelance, & Morning Routines With Paula Pant
01:33:11

Paula Pant has seen it all and learned a thing or two... thousand. Today, we sit down and chat with her about, well, everything.

Paula shares her habits, her take on journaling, and her morning routine. We delve into her fascinating backstory with money and her foresight to start investing in herself right out of college—when she was only making $21,000/year!

Paula hasn't stopped since, and her choices have allowed her to lead a pretty spectacular life. For one thing, she discovered freelancing, and learned that it's possible to generate income outside a W-2 position. Freelancing led to entrepreneurship in the form of a marketing agency, which led to a six-figure income.

But true happiness came when she stepped back from the agency to focus full time on her passion, her website, which she dubbed AffordAnything.com.

No topic is off limits in this candid chat with Paula. We even talk about her now-famous podcast episode where her guest, personal finance guru Suze Orman, had a lot of (not so great) things to say about the FIRE movement.

In This Episode We Cover:

  • The first thing she does to start her morning
  • The notion of habit stacking
  • Her stream of consciousness journal and gratitude journal
  • Her approach to writing blog posts
  • How habits impacted her success
  • What productivity really is
  • What fake frugality is
  • How much your time is worth
  • On outsourcing time
  • Paula's background story
  • How she discovered freelance
  • The power of self-employment
  • On living with roommates until she was 31—with a net worth of over $1 million dollars
  • The advantage of freelancing as a writer
  • Low lifestyle expenses
  • Her six-figure content management business
  • Her approach on portfolio design and assets management
  • On retirement accounts
  •  Properties she owns
  • What happened after she wound down her content marketing business
  • Assessing the reality of the current career track
  • And SO much more!

Links from the Show

Apr 01, 2019
#65: Getting Your Family on Board with Financial Freedom with Jacqueline Burch
01:15:51

Jacqueline Burch got married and did what all newlyweds do, spent time with her husband. They continued down the road of "things you’re supposed to do"—had dinners out with friends, purchased a home, and had a baby!

After her first son was born, she returned to work and he went to daycare. She knew she needed to invest for her future, but wasn’t quite sure how to do it.

Aimlessly investing didn’t yield the results she wanted (shocker!) and upon realizing she was pregnant again, Jacqueline decided to get her finances in order. She and her husband cut all extraneous spending, paid off their outstanding debt, and even found a way to reduce childcare from $77/day for one child to $65/day for two.

Jacqueline became an expert is optimizing her family’s finances —and a master at turning “we can’t afford that” into creative ways to accomplish anything. Her ingenuity includes teaching ski lessons as a way to afford skiing for her family of six, rehabbing a short sale house to live in, and continuing to live in a 932-square-foot house even after her fourth child was born.

Jacqueline absolutely embodies the mantra "when you have the desire, you find a way, and when you don’t, you find an excuse.” This woman makes no excuses and always finds a way.

If you are looking for a repeatable path to financial freedom, this is a can’t-miss episode.

In This Episode We Cover:

  • Jacqueline's journey with money
  • On doing childcare, working full-time, and going to school
  • Her mistake when she bought their first house
  • How they started their FI journey
  • How she discovered the concept of FIRE
  • On budgeting the household expenses
  • On increasing their savings from 11% to 35% after cutting off some of their expenses
  • The benefits of being a ski instructor
  • How she paid off her debts
  • How she increased her savings rate
  • Her money management saving strategy
  • On doing private money lending
  • Her life before and after working from home and leaving her job
  • On childcare expenses
  • On sending her four kids to a private school
  • What retiring early looks like for them
  • How she cuts her grocery bills
  • On note investing
  • The deal breakers for her when it comes to lending
  • On the investment property she has
  • On focusing on short- to medium-term investments as her investment philosophy
  • How she plans the college education for her 4 sons
  • And SO much more!

Links from the Show

Mar 25, 2019
#64: Scholarships and Other Ways to Pay for College with Zach Gautier
01:33:32

Zach Gautier oversees academic and college counseling at a Denver-area high school. He reached out to us, and proposed a show to share creative ways to fund college tuition—and blew us away with the depth of his knowledge!

This episode is for anyone who has children who have not yet graduated from college. And if you know someone else who can benefit from this information, please share it with them, too!

This show includes tips that apply to kids of every age, from elementary school to middle school to high school students.

We cover multiple ways to reduce higher education costs, such as transfer credits, AP courses, and CLEP tests, along with early college programs and dual credit options.  

We also discuss work-based scholarships and military options, as well as preparation for high school that starts in grade school.

Zach shares his advice on taking the ACTs or SATs and also ways to decide which one to take (and whether to retake if you get a low score).

This episode can help shave tens of thousands of dollars off your child’s college expenses!

In This Episode We Cover:

  • How Zach paid for college
  • The CLEP test
  • Systematic approach to transform college options
  • The best financial choices that somebody can make
  • Interventions that are very effective for your child to learn and figure out their love for school
  • On helicopter parenting
  • Things parents need to do when their children are pre-high school and high school age to save for college
  • 529 plans as the biggest avenue that needs to be considered
  • Brandon Turner's approach for his child college education
  • 3 ways to fund college
  • Dual credit program
  • How much does SAT and ACT prep cost
  • How to apply scholarships
  • Two college batches when it comes their application review process
  • His perspective on brand name college
  • Things that people should be looking for in a school
  • Ways to save money on college application process
  • Other avenues to approach prior to entering college to get excess funding
  • What is a loan and a grant
  • And SO much more!

Links from the Show

Mar 18, 2019
#63: Financial Freedom With 5 Kids IS Possible with Jordan Klint
01:21:36

One of the most common misconceptions of financial independence is that you can’t do it with kids. But Jordan Klint doesn’t listen to what other people say. He became financially independent with kids—and not just one or two of them. He did so with five children.

Oh, and did I mention he’s only 33 years old?

Jordan and his wife started flipping houses soon after they began dating and haven’t stopped. They’re now teaching their five children the value of investing, as well as how to be landlords and make repairs. They do this all while home-schooling them and continuing to find and purchase new properties.

Jordan also shares how he was prepared to quit his job outright but his employer begged him to stay for special projects, allowing him to continue to work as an engineer. It's something he loves but is now doing on his own terms.

Jordan’s story is 100 percent repeatable! In this episode, he lays it out in such a way that you can both be inspired and apply his strategies to your own life.

In This Episode We Cover:

  • Jordan's journey with money
  • Having a 20-year deadline working for somebody
  • Co-op program
  • His financial position in terms of income and assets upon graduation
  • How he and his wife approach their personal finance
  • Influenced by Dave Ramsey on avoiding debt
  • What his underlying principle is
  • How he started flipping houses
  • How helpful YouTube is
  • What Jordan and his wife did prior to having kids
  • Saving about 50% of their income for savings and investments
  • What their life looks like after having their first kid
  • On childcare expense
  • The structure they changed as his family grew
  • The importance of having a plan
  • The time he became intentional about building passive income
  • Their first deal and the passive income they produced
  • His principle of having better tenants
  • What happened after he bought his first rental property
  • On quitting his full-time job and going part-time
  • How they changed their spending
  • His lifestyle expenses
  • On healthcare
  • How he motivates other employees
  • And SO much more!

Links from the Show

Mar 11, 2019
#62: Taking Advantage of ALL Opportunities Life Throws at You with Anna Li
01:31:07

Anna Li moved to America from Uzbekistan when she was 22. On today’s episode, she shares the opportunities she’s been presented with—and taken advantage of—from an opportunity to learn at the first non-government university in Uzbekistan that partnered with an American College (essentially allowing her to earn the equivalent of an American degree) to picking up and moving to a new country to start a new life.

Though she was a financial analyst in Uzbekistan, the language barrier prevented her from getting a job in her field in her new country. Newly married, she took a job at a shoe store while her husband delivered pizzas.

Finally, she was able to secure a position in finance with Vanguard. It took five years to work her way up from analyst to team lead. She switched firms and is now a director for an international pharmaceutical company.

After every opportunity, she thought, “I’ve made it.” But instead of sitting there comfortably, she continued to pursue more—a better job, a promotion, a transfer.

When her husband’s last company closed, instead of finding a new job, they took this as an opportunity to begin investing in real estate. Her job offered a transfer to Switzerland—a three-year stint that came with a hefty raise and almost all expenses paid by the company, allowing them to ramp up their savings to pay for more houses. Plus, her husband flips long distance with her dad, another source of revenue.

Anna also shares a few unique tips for paying for child care and college—and you’re going to want to stick around for those! This episode is packed with information, and Anna’s journey will inspire you.

In This Episode We Cover:

  • How Ana's journey with money began
  • How she went from stable environment to chaos
  • How her dad instilled an entrepreneurial spirit
  • The story of starting a soda business
  • Why she borrowed $3,000 from parents and moved to U.S.
  • Their money evolution
  • What their wealth accumulation looks like a year after they migrated
  • What happened the year after they lived with their parents
  • A discussion on thinking only of surviving and not having exact goals for the first couple of years as immigrants
  • What their experience was like living with relatives
  • How they weathered the 2008 financial crisis
  • The daycare hack Anna figured out
  • How her husband got interested in real estate and decided on flipping
  • How she discovered financial independence
  • The benefits of expat jobs
  • What a Solo 401k really means
  • Hacking college
  • And SO much more!

Links from the Show

 

Mar 04, 2019
#61: The Repeatable Path to Financial Independence with Reshawn & Rob from Learn Hustle Grow
59:08

Reshawn and Rob got married nine years ago, joining their lives, families and bank accounts. Premarital counseling revealed two different views on money—and they knew if they wanted to stay married, they needed to get themselves on the same page.

Reshawn and Rob implemented a modified version of Dave Ramsey’s Baby Steps program to get themselves out of debt so they could start investing. Their team approach to their finances, focusing not on who’s debt it is but instead focusing on paying it off together strengthened their marriage and their desire to attain financial independence.

They stepped away from the corporate world to pursue passion projects, Rob in real estate and Reshawn in travel planning.

Are you looking to get your spouse on board with your financial independence plans? Listen to this episode together.

In This Episode We Cover:

  • Their money background story
  • The reason they decided to combine their finances
  • Their savings rate and what they did after they combined their finances
  • Ways to cut back on spending
  • How Dave Ramsey helped them
  • How they paid off all of their debts
  • The 529 college savings plan
  • Their investment philosophy after paying off debt
  • Redeploying their home equity and turning it into an investment property
  • Replenishing their emergency fund after purchasing a new rental property
  • Their property taxes
  • On being financially independent
  • The importance of having a giant goal
  • Having an agreement on how to approach major decisions
  • What their next plan is
  • And SO much more!

Links from the Show

Feb 25, 2019
#60: Rejecting a Scarcity Mindset and Going All-In on Apartment Investing with Gino Barbaro
53:18

Gino Barbaro was a chef, working hard every day. He made good money and had no debt, but never seemed to be able to save more than 10%. He started dabbling in real estate investing, and after closing his fourth deal worth $11 million, he decided he wanted to leave the restaurant business for good. He retired from his restaurant two years ago. While he could havelived off the passive income from it, he wanted to focus on his passion—real estate. After 25 years in the restaurant business, he had created just one restaurant, but in five years of real estate investing, he’s accumulated more than 1,000 units. Gino shares how his net worth has increased AFTER retirement—and has no plans to slow down. If you’re thinking big or want to be inspired to think big, Gino’s story is a can’t-miss episode. Click here to listen on iTunes.

In This Episode We Cover:

  • Gino's journey with money
  • What his money blueprint is
  • Property he has in New York that has $27,000 in property taxes
  • The reason they moved from New York
  • What he learned from life coaching school
  • Changes he made after he went on to become a life coach
  • His "why"
  • How he felt after he quit his job and bought his first property
  • Tips for financing a first deal
  • How he started his financial freedom journey with a minimalist mindset
  • The advantages of having a partner or mentor
  • What financial freedom is for him
  • Advice for budgeting
  • Tips for allocating and creating a financial freedom account
  • The importance of having an emergency fund
  • How reading books helped him
  • How he's taught his children about delayed gratification
  • His formal plan when it comes to setting goals
  • And SO much more!

Links from the Show

Feb 18, 2019
#59: Playing with FIRE (Financial Independence, Retire Early) with Scott Rieckens
01:15:31

Scott Rieckens was raised in a Navy family. He lived on base and often shopped in the commissary. It gave him a rather skewed sense of what things actually cost.

Fast-forward to adulthood. He knew he should be investing, but he wasn’t sure what to do exactly.

With no outstanding consumer debt, he was ahead of his peers. But his savings rate was miniscule.

Both he and his wife were contributing to their 401(k) plans—certainly a good move. However, they were missing out on some pretty massive growth by investing in a money market account instead of the stock market.

Then one day…

Scott queued up the latest Tim Ferriss podcast episode. He heard a story about how a guy and his family lived on around $25K a year. The guy was from Colorado and called himself Mr. Money Mustache. And just like that, Scott's life was transformed.

Financial freedom became his new passion. Although it took some time to get his wife on board, they’ve now completely reset their lives.

If you’re looking for ways to talk to your spouse about financial freedom, THIS is an absolute MUST-LISTEN episode!

In This Episode We Cover:

  • Scott's journey with money
  • How he started making money
  • The advantages and disadvantages of living in a military base
  • The reason he ended up living in San Diego with his wife
  • How he discovered financial independence
  • The reason they never accumulated consumer debt
  • His recommendation on how to track your spending
  • How he manages his personal finances
  • The steps he took to convince his wife to pursue financial independence
  • The importance of happiness when pursuing financial independence
  • And SO much more!

Links from the Show

Feb 11, 2019
#58: Optimizing Every Channel to Achieve Financial Freedom with Grant Sabatier
01:14:31

Grant grew up knowing his parents didn’t have much money. He recognized their constant stress about finances throughout his childhood, and one of his first memories was his dad telling him, “Money is freedom.”

Graduating from college in the middle of the Great Recession didn’t do much for his financial outlook. After bouncing around four different jobs, he landed back at home, unemployed and sleeping in the same bed he did when he was seven.

Then, one day he woke up and wanted to go to Chipotle but had less than $3 in his bank account. He was 24 years old. As trivial as it may seem, this was the wakeup call he needed to turn the corner and figure out his finances—once and for all.

Enter Google Mobile Ads. Grant realized the demand for digital advertising professionals was rising; he made a goal to make $1 million in that arena as soon as possible.

Google taught him everything he needed to know—for free—and Grant landed the first job he applied for.

He hit the million dollar mark in five years, six months, and three days. Grant now spends his time helping others figure out their finances so that they can live their best life, doing things they love every single day, through his blog Millennial Money and new book Financial Freedom: A Proven Path to All the Money You Will Ever Need.

In This Episode We Cover:

  • Grant's money journey
  • On looking at money as a stressful thing
  • Living with his parents again after working in a cubicle for four years
  • How Google Mobile Ads helped him
  • Getting Google AdWords certification for free
  • How running Google Ads campaigns helped him achieve financial freedom
  • On earning almost $300,000 building websites and flipping mopeds as a side hustle
  • On saving 82% of his income
  • How he got $1.25 million in his investment account in five years
  • On having the "spend less, save more, and take free online courses” mindset
  • Looking at time and money as human inventions
  • Good step for people who just discovered the concept of financial independence
  • The advantages of working remotely
  • The difference between side hustling for someone else and side hustling for yourself
  • On living a life you love regardless of the amount of money you are making
  • The differences between financial independence and financial freedom
  • And SO much more!

Links from the Show

Feb 04, 2019
#57: Financial Freedom, House Sitting & Travel Hacking With GoWithLess
59:05

Tim and Amy were frugal—or so they thought. They spent less than they earned, so they figured they were doing it right. Then one day, they happened upon the concept of financial independence.

Turns out, they had a LOT of room in their budget to cut back. Once they did, it took them less than one year to hit their financial independence number. They're now able to retire (if they so choose)!

What catapulted them down the path to financial freedom? Namely, it was downsizing their 6,000-square-foot home.

Once their daughter graduates from high school, they’ll rid themselves of their current 1,800-square-foot home and house/pet sit around the world full time. They plan to stretch their retirement dollars even further by travel hacking their way between cities.

Tim and Amy have combined their passion for travel (and pet sitting) into a full blown retirement plan. In this episode, the couple shares tips for getting started as a house or pet sitter, so you can stay for free when you travel, just like they do. 

We also explore different options for post-retirement life. Tune in to hear what Tim and Amy cut out of their spending to make early retirement a reality.

In This Episode We Cover:

  • Tim and Amy's money journey
  • Treasuring experiences over stuff
  • Making money decisions based on fears
  • Discovering financial freedom by accident
  • Being good savers and good earners with high income
  • How they downsized their spending from $115,000 a year to just $36,000 a year
  • Their emotional state was after quitting their job early and downsizing significantly
  • How they designed their portfolio to produce income in their early retirement
  • Low-cost investments and mutual funds
  • House sitting as a huge travel hack
  • What house sitting is and how it works
  • The importance of being flexible
  • Things they miss and want to go back to
  • And SO much more!

Links from the Show

Jan 28, 2019
#56: Change Your Personal Finances (& Your Millennial Money Mindset) with Paychecks & Balances
01:07:49

Rich Jones and Marcus Garrett are the men behind Paychecks and Balances, a podcast aimed at helping Millennials figure out their finances. And they should know a little on the subject—both Rich and Marcus made some pretty epic money mistakes in their youth.

From Rich just not looking at his bills to Marcus actively going into almost $30K of debt in 72 hours (NOT a typo!), they know what owing money to someone feels like. Marcus details his D.E.B.T. plan so you can pick yourself up, dust yourself off, and pay off your debt for good.

Are you looking to be debt-free in 2019? This episode can help you formulate a plan that works for your specific situation, with tips for staying out of debt once you arrive.

In This Episode We Cover:

  • Marcus and Rich's money journey
  • How Marcus spent $26K in just one weekend
  • How Rich optimized his budget around things he wants versus the things he needs
  • The concept of the debt snowball
  • Rich's hybrid approach to tackling his debt
  • The purpose of an emergency fund
  • Advice for being financially responsible
  • The importance of focusing on priorities first
  • Their advice for people on paying debts
  • The importance of being conscious about your decisions, especially when it comes to paying debt
  • Building responsible habits
  • And SO much more!

Links from the Show

Jan 21, 2019
#55.5: Testing Your Portfolio BEFORE Retirement with Millennial Revolution
37:53

A little over halfway into BiggerPockets Money Podcast episode 55, Bryce dropped a bombshell: “We had three years of runway before we actually pulled the trigger.” What he meant is that they tested their portfolio for three years before quitting their jobs. Bryce saw firsthand how it would work—and more importantly that it could work—and it gave him and Kristy the peace of mind they needed to retire early and travel the world.

We moved onto the next topic rather quickly, but this is something we couldn’t leave alone.

So we brought Kristy and Bryce back to dive into this topic, one that can help our listeners who may be on the fence about early retirement see that this truly works.

Bryce goes deep into details of their investments—and how he reviewed and reallocated every year for optimal performance.

If you’re looking for additional reassurance that early retirement is possible, this episode is what you’ve been looking for.

In This Episode We Cover:

  • What their portfolio looks like in a year leading up to them quitting their jobs
  • How tracking their performance helped them leave the workforce
  • And SO much more!

Links from the Show

Jan 15, 2019
#55: How to Quit Your Job and Travel the World with Millennial Revolution
01:05:59

Kristy Shen grew up poor. Knowing her parents couldn’t help her financially, she gave up her dreams of being a writer, and went to school to make big bucks as a software developer. She even graduated on the five-year program with an internship to limit her student debt and increase her chances of getting a job after graduation.

That gamble paid off and she was rewarded with a high stress job requiring her to be on call 24 hours a day. After seeing that same job stress almost kill a co-worker, she re-evaluated her own health issues, decided this path was ridiculous, and set out to make a change.

Kristy and Bryce share their journey through saving up enough to leave their jobs, the actual quitting process (it’s not as easy as you think) and into one of the worst ‘first years of early retirement’ - an oil crisis that sent their portfolio plummeting.

Clever tricks including their Yield Shield and Cash Cushion got them through their tumultuous first year, and ultimately proved that this DOES work, and you CAN retire early to travel the world.

If you're yearning for another option outside the traditional career path and wish you had the time and resources to see all of the faraway places on your list, tune into this episode—and get inspired.

In This Episode We Cover:

  • Bryce and Kristy's journey with money 
  • Kristy's fear-based relationship with money
  • How they made the practical decision to be financially secure 
  • Why being a pessimistic-optimistic combination made their lifestyle work out
  • Changing fear-based mentality to hope-based mentality 
  • How they ramped up their savings rate to 60% a year after graduating debt-free 
  • How they discovered financial independence 
  • How their lifestyle contrasted with that of their peers
  • Tips for getting over the hoarder mentality 
  • How they manage their expenses 
  • How they prepare for their world trip 
  • The idea of geographic arbitrage 
  • What their portfolio looks like in a year leading up to them quitting their jobs
  • What their typical day looks like when traveling 
  • The advantages of expat insurance
  • And SO much more!

Links from the Show

Jan 14, 2019
#54: 6 Ways to Reduce Your Taxable Income with Eric Brotman
01:06:24

Preparing For Retirement By Reducing Taxable Income & Saving More.

In today’s episode, we chat with Eric Brotman, CEO of BFG Financial Advisors, who discusses his top 6 ways to reduce taxable income.

Eric dives deep into each of these 6 methods, taking time to explain the ins and outs of each one and sharing how to maximize their benefits—both now and for your future.

It’s a new year, and “get my finances in order” is one of the most common resolutions people make. This episode will give you a leg up on the steps you need to take to make this happen in 2019.

In This Episode We Cover:

  • His definition of the term "retirement"
  • What he sees a lot of people do after they retire professionally
  • A discussion on tax management
  • The advantages of a Health Savings Account (HSA)
  • Tips for tax diversification
  • The current contribution limits for HSA plans and Roth IRAs
  • What a backdoor Roth IRA is
  • How to reduce your taxable income in order to sell stocks without paying capital gains
  • His thoughts on the 529 Plan
  • The concept of moving wealth between generations
  • How to use a stepped-up basis for inherited property and other assets
  • Advice for using life insurance in building wealth
  • Two fundamental kinds of life insurance
  • A discussion about term insurance and permanent insurance
  • And SO much more!

Links from the Show

Jan 07, 2019
#53: 2018 Financial Freedom Lessons With Scott & Mindy
01:10:56

2018 Financial Freedom Lessons

Today, Scott and Mindy go guest-less to recap and review the things they’ve learned over the first year of podcasting.

Topping the list—and surprising no one—is tracking your spending.

But we did learn some new things this year too, like how money dates are a great way to bring your spouse on board.

Looking for change your financial situation in 2019? THIS is the episode that can start you down the path to financial freedom.

In This Episode We Cover:

  • What Scott and Mindy's goal is
  • The most important thing that their guests have done for their success in achieving their financial goals
  • A discussion on tracking your spending
  • Why relentless self-education is so vital
  • How to get your spouse on board with money dates 
  • Why there's no secret sauce for making more money
  • How past money mistakes do not dictate your future money life
  • How to apply intelligence and work ethic to earn more income
  • How real estate helps people to pursue financial independence
  • The four major categories people spend on:
    • Housing
    • Transportation
    • Childcare expense
    • Healthcare
  • And SO much more!

Links from the Show

Dec 31, 2018
#52: Creating a Life Worth Living Before Retirement With Roger Whitney
52:44

Finding Financial Freedom Before Retirement

Roger Whitney learned early on that your life doesn’t always cooperate with your plans. The passing of his mother - who had always worked hard and saved for ‘later’ made him realize that ‘later’ doesn’t always happen. So he set out to create a life he loves - and NEVER wants to retire from.

But first, he made a bunch of money mistakes. His free-wheeling 20’s gave way to his more responsible 30’s, where he cleaned up his debt and got serious about his finances.

Now he’s living his best life, and shares tips for having the conversation with your partner to allow you to live your best life, too.

Dec 24, 2018
#51: Using Financial Freedom to Prioritize Family with Crispy Doc
01:19:23

Prioritizing Family with Financial Freedom

Carlos Fuego is an emergency room doctor with a superpower—the ability to realize that money doesn’t buy happiness and family time is far more important than the status of being a doctor.

He realized that his kids viewed him as a roommate and his wife resented that she had to run the household while he was working, so he took a step back, figured out what truly mattered, and pursued that, instead.

Carlos is now living his best life, practicing the amount of medicine he wants to, when he wants to, and leaving in time to be home with the kids and help his wife run the household so she can live her best life too.

Carlos shares how to figure out what you really want in life, and the changes he made that brought him closer to his family, and happier than ever.

 

In This Episode We Cover:

  • The history of his grandparents and how it shaped his whole money story
  • The importance of education in their family
  • On graduating college debt-free
  • What happened when he became an attending physician
  • How much he was making and saving while traveling abroad
  • Talking with his kid about the career to pursue
  • What brought him home after traveling abroad
  • His financial position when he moved to California
  • The moment he discovered financial independence
  • How he reconciled with the idea of giving up his job completely to be financially independent
  • His asset allocation before and after financial independence
  • His assumptions around passive income
  • How his wife's business plays into his overall position
  • And SO much more!

Links from the Show

Dec 17, 2018
#50: Rebuilding Your Financial Life After Bankruptcy with Patrice Washington
01:10:00

Patrice Washington was flying high in 2006, the multi-million dollar real estate company she had started with her husband was practically printing money.

But 2007/2008 came, and things went south fast. A high-risk pregnancy finally pushed her over the financial edge - she came out of the hospital with a healthy baby, but massive hospital bills after her insurance company cancelled her policy mid-stay.

Patrice and her husband did anything and everything they could to avoid bankruptcy, a mentor told them “You can’t nickel-and-dime your way out of $2 million in debt.” Bankruptcy wiped out all debts - wrecking their credit but allowing them to start over fresh.

Fast forward a few years, and now Patrice is America’s Money Maven, teaching others how to get their financial house in order to lead their best, most satisfying lives.

Bankruptcy doesn’t define you, and this episode is an excellent example for anyone starting over.

Links from the Show

Dec 10, 2018
#49: Wealth Transfer—How to Financially Prepare for Inheritance Money with Hari Mix
59:50

Hari Mix figured out money in grad school and started saving for his future before he graduated. He became an assistant professor at Santa Clara University—and then, his mother was diagnosed with terminal cancer and his whole focus shifted.

Today, Hari shares his experiences with his mother’s passing and how discussing it before she died made it easier for him to manage her estate afterwards. He shares some REALLY great tips for ways to handle an estate, including having all your documents in order and having a will.

This episode gets pretty deep into topics that no one ever wants to think about, but that everyone will have to deal with, both with their parents and for their children. Having a will is a great first step, but there are lots of other things you can do to ease the financial transfer burden—and things you need to know before making any moves. The more prepared you are, the easier this process will be during one of the most difficult times of your life.

If you’re in a position to inherit wealth from a parent or transfer wealth to heirs upon death, this is an episode you cannot miss.

In This Episode We Cover:

  • Hari's journey with money
  • Why prioritizing saving and long-term goals for retirement is so vital
  • The steps he took to handle his mother and grandfather's financial affairs
  • How he ended up creating his own estate plan
  • The importance of being open and honest with your family about financial affairs
  • Steps for approaching your loved ones' financial affairs
  • How to avoid the probate process
  • How he fielded the discussion with the other heirs in his grandfather’s financial affairs
  • The importance of talking to a professional
  • The right time to contact an estate planning attorney
  • Tips for investing an inheritance
  • His written investment policy statement
  • How he came up with his investing plan
  • What he did after his mother died
  • His idea of inflating his lifestyle
  • The checklist you need for when somebody dies
  • Peculiarities of inheriting money and IRAs
  • And SO much more!

Links from the Show

 

Dec 03, 2018
#48: Breaking the Impulse Shopping Twitch to Embrace Minimalism with Anthony Ongaro
51:56

Anthony Ongaro had a habit. Every time he had a bad day, every time life wasn’t amazing, he opened up his online shopping site, and One-Click purchased something. Anything. It didn’t matter. He didn’t need it, it didn’t matter what it was, but the act of purchasing made him feel better.

Until he noticed that he was missing family events because he couldn’t afford the tickets, yet almost every day there was a box on his doorstep. He implemented a complete shopping ban - and discovered that at first, it was similar to cutting out sugar. He was grumpy and in a very bad mood.

But after the initial shock, he found that he didn’t miss the stuff - in fact he was inspired to clear the clutter, remove the distractions from his life, so that he could live his best life.

Are you feeling overwhelmed by your ‘stuff’? This episode can give you the direction you need to get started.

Links from the Show

 

Nov 26, 2018
#47: Big Money Wins—Unique Ways to Save & Use Cash Efficiently with Jim Wang
01:19:40

Jim Wang has been sharing his views on money for more than 14 years—more than enough to earn him the title of Great Uncle of Personal Finance Blogging. And he’s learned a LOT about money in those 14 years.

Today, Jim shares his "big money wins"—unique, one-time ways to save larger sums of money or ways to get more bang for those bucks. He even has a tip we’ve never heard before! (We’re  not going to reveal it here, you’ll have to listen!)

Jim also shares how his childhood shaped his views about money, his discovery that his day job wasn’t his true destiny, and how his frugality gave him enough confidence to take the leap into entrepreneurship.

Looking for a some help cutting a bit more from your budget? This is the episode you need to listen to—twice!

In This Episode We Cover:

  • Jim's money journey
  • On growing up with a very frugal family
  • His side hustle when he was in college
  • His financial position coming out of college
  • How he started his first personal finance blog
  • How he discovered financial independence
  • The financial circumstances that allowed him to move into full-time entrepreneurship
  • Thoughts on accumulating a lot of assets when the market goes down
  • His entrepreneurship journey with Bargaineering
  • Tips for getting his finances in order he learned from blogging
  • Advice on budgeting and tracking your spending
  • Tools he recommends that can track spending
  • What a time journal is and how to use it
  • The importance of being smart with your time
  • How fix contracts are negotiable
  • Why making an investment early on creates an easier life
  • Resources to improve your credit score
  • And SO much more!

Links from the Show

Nov 19, 2018
#46: Engineering Passive Income Streams to Fund the Life You Want with Financial Samurai
01:20:35

This week’s episode features Sam Dogen from Financial Samurai. After one month working for a top investment firm, Sam knew 70-hour workweeks were not the life he wanted.

So Sam took action immediately. Instead of fancy cars and dinners out, Sam shared a studio apartment with a friend and socked away HUGE sums of money—50% of mediocre starting salary. He invested in real estate (shocker), stocks, and bonds—and continued his massive savings rate.

Taking advantage of the economic downturn, Sam engineered his layoff and an enormous payout.

Sam now lives the life he wants, having set up multiple passive income streams during his working years. He spends time with his family every day and embodies the concept of financially free. He no longer trades his time for money; his money just simply reproduces itself and does all the heavy lifting.

This episode is a great look at how a little upfront discomfort can lead the your best life.

Links from the Show

Nov 12, 2018
#45: The Truth About Entrepreneurship with Matt Giovanisci
01:15:17

Matt Giovanisci is a serial entrepreneur. He decided early on that “working for the man” was not in his cards, and set out to never have to do that again, creating side hustles that generated income so he could be his own boss and do everything on his schedule and his terms.

But entrepreneurship isn’t always the pie-in-the-sky fairy tale that it is sometimes made out to be. On today’s episode, we talk to Matt about the successes and failures he’s had as an entrepreneur - from the pool/spa care web site he took to $100k in revenue per year in just five short years to the podcast he quit after one episode.

This episode takes off the rose-colored glasses for a realistic view of how entrepreneurship actually looks.

Links from the Show

Nov 05, 2018
#44: DIY Your Way to FI with Tinian Crawford
01:00:44

Tinian Crawford went to college - and took 6 years to complete his Associates Degree in Graphic Design. College just wasn’t for him - he didn’t enjoy it and didn’t get much out of it. He knew he needed a job, but wasn’t sure what he wanted to do for the rest of his life.

A series of odd jobs led to a position at a sign shop. Connecting the dots, he saw that many of the signs needed electricity, and figured he’d be worth more if he was an electrician.

After mentioning this to his wife, suddenly vocational brochures started to arrive in the mail.

He chose the most expensive way to get his license, and parlayed it into a minimum wage job until he was a journeyman electrician.

Tinian took some time to figure out his path, but is now on the way to Financial Independence, living the life he wants on the terms he chooses.

If you think you’re too late for FI (Spoiler Alert: you’re not!) THIS is the episode that will change your mind and show you it IS possible, even if you’re not 20 years old.

Links from the Show

Oct 29, 2018
#43: Using the Power of Goal-Setting to Fundamentally Alter Your Financial Path with J Scott
01:15:12

You’ve probably heard J Scott’s real estate story (spoiler alert—he’s killing it!). But he’s never really told his money story that led up to this massive real estate success.

Today, we talk to J and discover that in his 20s, he knew nothing about money, investing, or real estate. He started off $35,000 in debt, with no plan and no goals. An investing discussion with friends led to the creation of a spreadsheet to display his financial position in terms he could not ignore.

The spreadsheet spawned a goal of $0 debt, a second job as a bartender, and J paying off all his debt in two years. He discovered he liked owning assets. At the suggestion of his wife, they bought a house to flip and promptly made every single flipping mistake you can make.

Hear how J turned mistakes into successes many times over—and how having a goal to work towards keeps him focused on moving forward.

Links from the Show

Oct 22, 2018
#42: How to Invest in Real Estate with Joshua Dorkin & Brandon Turner
01:21:29

Real estate is a hot topic right now, and who better to talk about the subject than BiggerPockets founder Joshua Dorkin and BiggerPockets Real Estate Investing Podcast Host Brandon Turner?

No one, that’s who.

So we went to these experts, and grabbed some excellent real estate advice. We get a brief history of their experiences with money and chat about their new book, How to Invest In Real Estate. Buy the book at www.biggerpockets.com/investinre

This fun episode also includes tips for managing your money while you save for your first investment, Josh’s inverted funnel analogy and Brandon’s Harry Potter references.

Thinking about adding real estate investing into your portfolio? This episode will educate and inspire.

Links from the Show

Oct 15, 2018
FinCon Bonus Episode: Debt Free in Three Years With Zina Kumok
25:25

Zina Kumok’s parents immigrated to the United States, with no money education and completely unprepared for the consumer society they found themselves in. They quickly got into credit card debt in order to have the lifestyle they “deserved.”


An avid listener of Dave Ramsey, Zina quickly determined she did not want to ever be in debt. However, she graduated with $24,000 in student loan debt and made it her mission to pay that off as soon as she could. Every single extra dime she found, she threw at her debt until it was all gone.

So once the debt is gone, Zina realized that she needed to ramp up her investing. Not one to just ‘show up and wing it,’ she set about learning how to invest properly.

Zina’s story illustrates that you CAN pay off debt while making a lower salary, you CAN pursue financial independence while self-employed, and that your past does not define you.

Links from the Show

Oct 13, 2018
#41: How to Find the Best Possible Certified Financial Planner (CFP) for Your Needs with Kyle Mast
01:39:25

You’re on the path to financial independence—but you’re not sure what to do with your money. Index funds sound great, but your total financial situation doesn’t end with index funds.

Today we sit down with Kyle Mast, a Certified Financial Planner. Kyle LOVES his job as a CFP, but there aren’t enough hours in the day for him to help every single person. He gives advice on how to find a GREAT CFP, shares exactly what a CFP is, how they get paid, and how they can help almost anyone make their money work even harder for them.

This is an episode you’re going to have to listen to more than once, because the advice that Kyle gives will blow you away.

This episode truly is for anyone who has money—and wants to have more.

Links from the Show

Oct 08, 2018
#40: Taking Command of Your Finances by Understanding (& Controlling) Money with Joe Saul-Sehy
01:35:24

Today we chat with Joe Saul-Sehy from Stacking Benjamins. Joe shares his money story, which starts off with him figuring out how to get into debt, then discovering he didn’t like being there.

He learned that you can’t diagnose what’s wrong with you until you have it all in front of you, so he laid everything out, and started a monthly money date with his wife to get everything sorted out and under control.

Joe has three fantastic tips to help you stay on your chosen financial path. He also shares the four assumptions about the FIRE community that are wrong.

This episode will help you take command of your finances and steer your life in the direction you truly want it to go.

Links from the Show

Oct 01, 2018
#39: From “Bad with Money” to Intentional Saving and Spending with Jamila Souffrant
01:09:01

Jamila Souffrant grew up watching her mom struggle to provide for her. She decided early on that she wanted to be a millionaire, her solution to not having enough was to simply make a lot of money. She saved like crazy, but didn’t have a plan for it.

A good student, she attended college and got into an internship program that places minority students with Fortune 500 companies and pays them well. During college, she saved 80-90% of her salary - but was still considered herself “bad with money,” buying luxury items she doesn’t remember.

Internship led to employment, and Jamila changed her focus from IT to the real estate department. But her finances stayed the same. She contributed to her 401(k), but not even enough to get the full company match in her 20s.

The switch flipped in her 30s, after an exceptionally bad commute home. She discovered FI through podcasts and blogs, and finally understood this could be her reality, too. Jamila and her husband kicked their savings into high gear and started investing.

Jamila went from “bad with money” to saving $169,000 in two years! This episode shows it’s not too late to start your Financial Freedom journey, too.

Links from the Show

Sep 24, 2018
#38: Getting Serious About Paying Off Debt with Phillip Taylor from PT Money
01:12:10

Phillip Taylor studied to be a CPA in college, just like his dad. He graduated with some debt and decided to add to it by buying a house. In order to afford his new house, he didn’t max out his 401k—he didn’t even contribute enough to get the full company match!

By the time he got serious about paying down his debt, it totaled $95,000. PT decided to journal his experiences on a blog he called PTMoney.com. And something amazing happened. He found his tribe.

PT soon discovered that there was a whole community of people with financial problems who were willing to talk about it online.

PT wanted to meet these people in person, have live discussions about issues they were all facing, and share ideas. He started a conference that has blossomed into THE money conference to attend, FinCon.

PT shares his story of going from a finance guy who made bad decisions to a guy who helps others make great decisions about their own finances.

Links from the Show

Sep 17, 2018
#37: Paying Off Student Loan Debt with a Median Income and Two Kids in Northern California with Kyle Renke
59:45

Kyle Renke graduated from college and hopped right on the American dream bandwagon. He started off with a starter house, added a couple of kids and moved onto a bigger, better house—one that he could barely afford.

He then went back to grad school, tacking on another $40k in student loans. Kyle and his wife spent money left and right, never seeming to be able to get ahead. Finally, he got sick and tired of being sick and tired.

Kyle read books and connected with friends in a better financial position. He sold the big house, threw everything at the student loans, and rented a smaller, MUCH less expensive place.

Kyle’s story shows that you CAN make big financial mistakes, change your course, and work toward financial freedom—even with children.

Sep 10, 2018
#36: From Childhood Poverty to Financial Freedom by Age 32 with Jillian Johnsrud
01:21:30

Jillian Johnsrud grew up lacking the privileges that many of us take for granted.

Jillian Johnsrud grew up poor, with an abusive step father and a mother unable to leave due to lack of funds. She emancipated herself during her junior year of high school, living in a camper in high school, waiting tables after class. Still, she managed to save $8,000 by the time she graduated.

She married young, and medical debt and student loan debt put her family in a tough starting position. From there, however, Jillian began building wealth. In adventures that span tons of different states and even a stint in Europe, Jillian was able to eliminate her debt and achieve financial freedom—all while never earning more than a median income.

Hear Jillian’s story of investing when everyone thinks you’re crazy, adopting a group of siblings, and “creating a life that is such a perfect fit she never wants to retire from it.”

Links from the Show

Sep 03, 2018
#35: Hacking Your Life to Live for (Almost) Free with Craig Curelop
01:06:33

Graduating from college, Craig Curelop had amassed an impressive $25,000 savings account - AND $85,000 in student loan debt. Conventional advice is to pay off your student loans BEFORE investing. In this episode, we hear how Craig ignored this advice and started buying properties to House Hack in the hot Denver real estate market while making the minimum payment on his student loans.

Fast forward a few years, and now Craig generates significant income through his primary residence and can concentrate on aggressively paying down his debt - all while living the life he chooses.

Craig has found ways to optimize his life so he can move toward financial freedom. He also takes advantage of several “life hacks” that reduce his living expenses to almost nothing.

Wondering how to get started? Craig’s story is a must-listen.

Links from the Show

Aug 27, 2018
#34: The Low-Stress, Surprisingly Simple Way to Pursue Financial Freedom with Andy Hill
01:03:58

On today's show we discuss the highest-probability way that a family can move toward financial independence—without stress and worry—while enjoying incremental freedoms along the way.

We’ll also talk about all-cash real estate investing, where to park your money as you save up for a large real estate investment, and how families can find ways to cut back in spite of having expensive kids to care for.

Andy Hill usually plays the role of interviewer, but today he's switched seats to share how he strengthens his family tree and lives financially free. Are you looking at financial freedom and wondering if it’s possible with a family? Then this is the episode for you!

Links from the Show

 

Aug 20, 2018
#33: From Debt to Financial Freedom While Active Duty Military with Stuart Grazier
01:02:43

Stuart Grazier joined the military and immediately went into debt. A chance encounter with Dave Ramsey’s Financial Peace University showed him how to manage his finances, and he returned from his stint overseas with his more than $40,000 in debt paid off!

His wife had roommates while he was overseas, and they continued to have roommates when he returned, House-Hacking to cover his mortgage so he could stockpile his cash.

Attending a local real estate meetup introduced him to someone looking for private loans, and his stockpile of cash provided him the ability to create private loans — earning 12 percent interest on his money.

Stuart discusses his successes and failures in real estate investing, his transition to rental properties, and what he’s planning after he separates from the military.

Feeling stuck at your job and looking to fix your financial future? This is the episode you need to listen to.

Links from the Show

Aug 13, 2018
#32: Financial Freedom Through Small Life Changes and a Modest Real Estate Portfolio
01:09:03

Today we sit down with Mr. and Mrs. Planting our Pennies, or Mr. and Mrs. PoP for short. Mr. PoP never wanted to be anchored to an inflexible job. Mrs. PoP never wanted to be financially insecure.

A reward trip to Hawaii after a good sales year at his job led Mr. PoP to the internet where he found Early Retirement Extreme and Mr. Money Mustache. Mrs. PoP ran the numbers and discovered that their target number for a mini-retirement really wasn’t that hard to reach. A few more calculations showed her they could work slightly longer and quit working their traditional jobs forever.

This episode truly showcases that anyone can achieve financial freedom. Small tweaks to your spending can yield huge rewards fairly quickly.

Wondering if you can reach financial freedom? This episode will show you how.

Links from the Show

Aug 06, 2018
#31: How to Boost Your Income & Investments for a Faster Route to Financial Freedom
01:00:52

Continuing where we left off from last week’s episode, this show discusses increasing your income by recognizing existing opportunities and making your own opportunities through side hustles.

The show progresses through investing basics, both traditional stock market investments as well as real estate investing. (This is BiggerPockets, after all.)

Do you have your spending under control? This is the show that takes you to the next step in your journey—increasing your income to grow your wealth.

Links from the Show

Jul 30, 2018
#30: How to Cut Expenses for a Faster Route to Financial Freedom
01:01:43

We’ve interviewed more than 30 people for the BiggerPockets Money Podcast over the course of this year — and we’ve got a LOT more people to interview!

We’ve heard from so many  listeners: “I’d like to get started on the path toward financial freedom, but I don’t know where to begin."

Today, Scott and Mindy share EXACTLY how you get started with tracking your spending, and how to make SIGNIFICANT cuts in your budget to move you down the path faster.

Looking to become financially free? THIS is the episode you need.

Links from the Show

Jul 23, 2018
#29: From $200,000 in Student Loan Debt to $150,000 Net Worth in 3 Years with Nick and Alyssa Parros
01:14:00

Nick and Alyssa were high school sweethearts, who went to college where their family attitudes toward money came to light. Nick’s “save up for it” mindset saw him graduate with around $50k in student loan debt, while Alyssa’s more spendthrift attitude towards the college lifestyle had her graduating with $80,000 in debt—and her graduate degree piled another $60,000 on top of that.

They got married and quickly discovered their vastly different views on money.

Through budgeting, communication, spreadsheets and more spreadsheets, they are now on the same page and working toward financial freedom. Their curveball pregnancy didn’t derail them—it strengthened their resolve to get to FI through real estate and traditional investments.

Links from the Show

Jul 16, 2018
#28: How Anyone Can Easily Make Extra Money Using Side Hustles with Nick Loper
01:11:28

Side hustle is a huge buzzword in the FI community. Make extra money on the side doing something fun, something you love, or even just something that pays really well.

Today we bring in Nick Loper, Founder of Side Hustle Nation, to share his expertise about side hustling: What they are, who they’re for, and how to implement one of your own. Nick also shares some of his favorite side hustles, including some surprisingly easy ways to make money.

Looking to increase your income? You MUST listen to this episode!

Links from the Show

Jul 09, 2018
#27: How to Get Even MORE from Your Travel Rewards Credit Card with Lee Huffman
01:14:26

Open up a credit card, earn miles, get a free plane trip or hotel room. Sounds great, right? But what if you could exponentially increase your travel rewards? Fly free every time. Never pay for a hotel room again.

Lee Huffman travels the world in luxury with his family using travel rewards for less money than your economy vacation. He’s an expert in travel rewards, credit cards, and personal finance. Today, Lee shares how you can save on your next vacation using travel rewards - and how to squeeze every drop of value out of those rewards!

Links from the Show

Jul 02, 2018
#26: Graduating College on Track for Financial Independence with Cody Berman
01:17:40

Cody Berman: Remember that name because this kid is going places. Currently traveling in Australia, Cody began his journey into personal finance and intentional living as a child, when his dad taught him about compound interest and the power of saving and investing. By age 14, he'd already saved up $15k, and by the time he reached college, he was diving into entrepreneurship, side hustles, and financial independence plans.

Today, Cody runs a company that manufactures disc golf discs and has afforded himself the freedom to travel with his girlfriend. With an ultimate strategy for complete financial independence in the works, he plans to reach a point where he is able to spend time as he wishes, pursuing his various interest and entrepreneurial pursuits.

If you're looking to inspire yourself, your kids, or any ambitious young people you know to make the small changes that will dramatically affect the future, don't miss this episode.

 

Links from the Show

 

Jun 25, 2018
#25: Raising a Family While Seeking Financial Freedom with Chris and Debbie Emick
01:06:35

Chris and Debbie Emick have two daughters—AND are well on their way to financial independence through a combination of local and long distance real estate investing coupled with frugality and conscious spending.

Chris and Debbie are everyday Joes living the dream in small-town Colorado. Debbie home schools their two daughters and manages their rental property business from home, after her 14-year career in teaching. Chris is a passionate leader to his team of network engineers by day and organic gardener/personal finance extraordinaire by night. Their home base is rural Southeastern CO, where they can go for dirt-road runs and trafficless drives while still being able to make quick mountain trips for hiking, backpacking, and skiing.

This is the first in a periodic series of interviews with families who are on the path to financial freedom.

Links from the Show

Jun 18, 2018
#24: Getting Financially “Naked” with Your Significant Other — With Erin Lowry
01:08:11

Erin’s parents taught her about money from a very early age. She paid for half of everything she wanted, which helped her figure out financial prioritization. When it came time for college, she decided against her dream college to avoid significant student loan debt by attending a college based on scholarship.

Basically, Erin set herself up for a good financial future. But most people are not taught about money, and they do not make such sound financial choices.

Today Erin talks about getting financially "naked" with your significant other. She shares advice for bringing up the subject of financials, being gentle with the discussion, and how to separate deal breakers from those financial issues that are just unfortunate.

Links from the Show

Jun 11, 2018
#23: A Mini-Retirement Road Trip in Your 20s with Becky & Noah
55:39

Becky and Noah are in the first half of their gap gear, a pre-FI road trip around America.

They didn’t grow up rich, but they carefully planned out their life to avoid student debt. Both earned the same Chick Evans Caddie Scholarship to Purdue University that paid full tuition and came with housing. They made smart career choices earning employable, in-demand degrees that allowed them to earn high salaries.

After discovering FI on Reddit, they made a few tweaks to their lifestyle, quit their jobs, and hit the open road.

This episode shows that financial independence isn’t just a pipe dream, and while Becky and Noah aren’t there yet, they are well on their way.

Links from the Show

Jun 04, 2018
#22: How to Pay Off 6-Figure Student Loans While Pursuing Financial Independence with Travis Hornsby
01:09:05

Student loan debt is a HUGE problem facing millions of people - and it continues to grow every year. Today we are joined by Travis Hornsby from Student Loan Planner who shares several options for paying back your student loans, including loan forgiveness.

Travis shares his rule of thumb for deciding whether to pay off your loans or take the forgiveness route, and tips for refinancing your student loan debt. He also gives future college attendees a few things to consider BEFORE choosing a major.

This episode is for anyone with student loan debt - or anyone with kids facing this choice. Travis also shares how you can still pursue Financial Independence while paying down your student loans.

Packed with actionable advice, this is an episode NOT to be missed!

Links from the Show

May 28, 2018
#21: How Losing 260 Pounds Spurred Job & Investing Success with Tony Gayden
01:14:46

Tony Gayden grew up in a lower middle class household where money and finance were not discussed. He sought comfort in food, eventually reaching 476 pounds and drowning in debt. In this episode, Tony shares his weight-loss journey and how he parlayed the lessons and discipline he learned into successful debt reduction and finally starting to invest.

Today, Tony works at his dream job with no plans to quit, but uses his investments to protect himself should his circumstances change.

Links from the Show

May 21, 2018
#20: The Simple Path to Wealth—Index Funds Explained with JL Collins
01:17:01

Jim Collins has literally done it all. From busboy, produce, clerk, and gas station attendant, to ad agency founder, sales trainer, radio co-host, and publisher. He is a prolific world traveler, having visited more than 30 countries on five continents via motorcycle, car, train, plane, boat—and even elephant.

Jim has lived a very good life. And along the way, Jim has learned that money is a tool that can offer the freedom to live the life you want to live.

He’s also figured out that there is a very simple path to wealth. While you can make money picking individual stocks, the index fund is a very easy way to grow your wealth in the stock market without spending time researching companies.

This episode truly is the show for anyone who has money or wants to have more.

Links from the Show

May 14, 2018
#19: The Ultimate Real Estate Retirement Plan with Chad Carson
01:10:01

Chad Carson has never had a “real job.” Instead, he has parlayed his experience helping with his father’s rental business into his own real estate rental business.

Now, Chad owns enough real estate that he’ll never have to work at a real job. In fact, when we spoke to Chad, he called us from Ecuador — where he’s been living for a year in order to submerse his children in the Spanish language. His rental business ran itself while he was away. He was able to take an extended vacation and truly delve into the area — and now his children are bilingual!

Chad’s take on “mini” retirements is very interesting. He obviously loves what he does, but he also enjoys spending time with the people who matter most: his family. Real estate provides him the opportunity to work at his own pace.

This episode gives you an alternate look at early retirement — it doesn’t have to be permanent.

Links from the Show

May 07, 2018
#18: Accessing Retirement Funds Before Age 59½ with The Mad Fientist
01:31:29

Early retirement is a goal many people have. Diligently saving for retirement age to fund your life after you stop working is great, but the same programs that help you avoid taxes while saving come back and hit you with taxes AND penalties if you access those funds early.

But wait! The Mad Fientist made it his mission to figure out how to reduce his taxes—or eliminate them altogether AND avoid penalties.

In this episode of the BiggerPockets Money Podcast, the Mad Fientist shares 3 ways to access your retirement funds before the typical age of 59½. He breaks these concepts down so they’re easy to understand and put into practice.

This episode is a must-listen for anyone who’s thinking about retiring at any age.

Links from the Show

Apr 30, 2018
#17: Building a Lean Business With (Almost) No Capital with Alan Donegan
01:09:20

On this week’s episode of the Biggerpockets Money Podcast, we chat with Alan Donegan.

Alan Donegan watched - and helped - his father run a super-successful sportswear company, until the economy shifted and they lost everything.

Determined to not follow this path, Alan got a job. Then another and another and another. He couldn’t find anything he wanted to do -  so he created his own job, teaching people how to create theirs.

Taking lessons from his father’s experiences, Alan teaches entrepreneurs how to start really  small and test the idea before jumping in with both feet. If you have an entrepreneurial itch, this is a can’t miss episode.

Links from the Show

 

Apr 23, 2018
#16: Financial Security Through Passive Income with Joel Larsgaard
57:58

As a kid, Joel Larsgaard watched his parents work jobs they didn’t like to pay for things they didn’t need. They missed out on some of the priceless moments that life has to offer, culminating in bankruptcy when Joel was 12.

We discuss how that unfortunate event permanently altered Joel's view about money and shaped his entire future. This experience led him to pursue multiple passive income streams, so he never has to go through that again.

 

Links from the Show

Check the full show notes here.

Apr 16, 2018
#15: The Pillars of FI, Pt. 2: Designing the Life You Want with Brad Barrett and Jonathan Mendonsa from Choose FI
47:52

This is the last half of the epic interview with Brad and Jonathan from Choose FI.

Continuing where we left off from last week, we finish up the Pillars of FI conversation, including beginner level topics you can be doing such as frugality and index fund investing but also touch on more advanced topics like tax optimization and travel hacking.

If you have not yet listened to part one, you can find that here

This episode - along with last week’s part one - is a must-listen for anyone on the path to FI, or just getting started.

Links from the Show

Listen to the episode on BiggerPockets

 

Apr 09, 2018
#14: The Pillars of FI: Designing the Life You Want with Brad Barrett and Jonathan Mendonsa from Choose FI
59:27

On today’s epic show, we speak with Brad Barrett and Jonathan Mendonsa from Choose FI. Brad and Jonathan share their pillars of financial independence — the 10 things you need to do in order to achieve FI.

We cover beginner-level topics such as frugality and index fund investing, but we also touch on more advanced topics like tax optimization and travel hacking.

This episode went so long — and contained such fantastic information — that we simply could not squeeze it into a regular show. So we didn’t. We made it a two-part episode so we didn't miss a moment with Brad and Jonathan.

Links from the Show

Click here to check the full show notes.

Apr 02, 2018
#13: Achieving FI Before 40 Despite Breaking Every Financial "Rule" with Tanja from Our Next Life
48:02

Tanja reached financial independence (FI) and retired from her full-time, high-stress job at age 38—despite not being a natural saver, having purchased two brand-new cars in the past, and not maxing out her 401(k) in the beginning—pretty much breaking every FI “rule” out there.

Tanja was not focused on early retirement or financial independence when she met Mark, but quickly got on board. Her 60-hour-per-week job took up all her time and "brain space,” and more than 100 plane trips per year made it very easy to increase her savings rate to be able to achieve her goal.

Hear how she reached financial independence and parlayed that into early retirement in today’s episode of The BiggerPockets Money Podcast.

Mar 26, 2018
#12: How to Become an “Overnight” Success in 10 Short Years with David Greene
01:01:19

While David Greene is a long-time real estate investor, best-selling author, and one of the top real estate agents in California today, his career started in the most unlikely of places—as a busboy at a restaurant.

Learning how hard work and hustle, combined with a willingness to identify and serve the needs of others, took him from busboy at a restaurant to a college graduate with $95,000 in investable liquidity. After becoming a police officer, David Greene began building a real estate portfolio on a median income in one of the most expensive markets in the country—the Bay Area in California.

David’s approach of extraordinary frugality, discipline, adaptability, and competitiveness have launched a superstar career. If you want the same for yourself, be sure to listen to today’s show.

Links from the Show

Check the full show notes here.

Mar 19, 2018
#11: Financial Freedom in Less Than Five Years with Joel from FI 180
01:13:16

Joel and his wife were barreling down the wrong financial path - saving nothing and spending more than $100,000 every year.

A freak car accident literally changed the direction of their lives by causing them to re-evaluate and decide on what was truly important in life. In five short years, they went from a negative savings rate to saving 85% of their income, allowing Joel to quit a job that was making him miserable.

They did this by making regular changes to their spending, and cutting out the things that weren’t actually making them happy, alongside shedding poor “investments” they had previously accumulated, and sticking to a strategy of simple, long-term index fund investing.

This episode is for anyone who earns an upper-median income, yet feels stuck and unable to get ahead. Joel will show you how to make the tough changes that will ultimately lead to more happiness, more freedom, and a stronger financial position.

Links from the Show

Click here for full show notes.

Mar 12, 2018
#10: Designing a Frugal But Luxurious FI Life by Age 32 with Liz Thames
01:04:27

In March, 2014, Liz and her husband made the conscious decision to stop their big city, big spending lifestyle, and adopt a frugal mindset in order to realize their new goal of moving out of the hustle and bustle and into the woods.

Their 180 turn took them from dinners out every night to 66 acres in the woods of Vermont, where they happily raise their daughters and live the life they want - with no stress, no financial strains and ultimate financial freedom in just over two years, by May 2016.

This is a must-listen episode for anyone curious about what it takes to make this lifestyle  change.

Links from the Show

Check the full show notes here.

Mar 05, 2018
09: Financial Independence at Age 30 (by House Hacking + Side Hustles) with Drew from Guy On Fire
54:44

What would happen if someone had early financial independence in mind right out the gate, upon graduating college? Imagine the amount of money that person could stockpile... Today’s guest had exactly that in mind, and made the kind of decisions that will allow him to retire early (maybe even in his twenties!!!).

Meet Drew, the “Guy on Fire.” At age 27, he has already accumulated four properties with seven units in the hot Washington DC housing market. He makes the numbers work, and work well, and is reaping the financial rewards of some sweat, self-education, and side-hustles so he can exit the workforce and live the life of his dreams.

Don’t miss this inspirational and totally-repeatable episode with Drew!

Feb 26, 2018
#08: From Financially Perfect to Rock Bottom (and back again) with Tiffany “The Budgetnista” Aliche
52:39

Tiffany Aliche grew up talking about money. Her dad was an accountant,  her mother actively  engaged the children in grocery  shopping and other areas of finance. She was a teacher at a private school and had just bought her first house.

Then she met a “friend” who convinced her to invest in his get-rich-quick scheme. Promised future returns led to foolish spending. The economic downturn led to a lost job, and in turn a lost home.

Bouncing between family members, Tiffany had a revelation: “I need to take responsibility for my past actions, and turn my life around.”

Tiffany took the necessary steps to repair her finances, and then started teaching others how they could fix their finances, too.

She’s turned her financial courses into a network of financial resources - including a 350,000+ member facebook group where you can ask and answer questions or get support during your journey.

This show is for anyone who is sick of making bad financial choices, and wants to turn their life around.

Links from the Show

Full show notes here: https://www.biggerpockets.com/moneyshow08

Feb 19, 2018
#07: How Breakfast Food Motivated Financial Freedom with Mr. and Mrs. Waffles on Wednesday
01:07:12

Mr. and Mrs. Waffles on Wednesday (WoW) were doing everything wrong. They ran up ridiculous tabs at a local restaurant/bar just ‘hanging out,’ while getting abysmal returns from their financial planner - and paying 1% for this terrible advice.

Disatisfaction with 5% returns while the market saw 25% returns spurred a Google search, which landed them on a website that told them exactly how to invest in the stock market (hint: Index Funds). This site also introduced them to the concept of early retirement.

Mr. WoW convinced Mrs. WoW to hop on the FI train with the lure of unlimited travel which led to a financial about-face and expense tracking, which led to the realization that they spent far too much money on things that didn’t matter.

Hear how Mrs. WoW’s self employment gave their FI journey a jumpstart through tax hacks like write-offs and business expenses.

This is an awesome episode!

Links from the Show

Check the full show notes here

Feb 12, 2018
#06: Fearlessly Paying off Massive Student Debt on $30,000 per Year with Sarah Wilson
30:58

Are you tired of hearing success stories from folks who are earning $60,000, $80,000, or even $100,000 or more paying off debt and moving toward financial freedom? Where’s the inspiration for the folks out there that do not earn above average incomes? Look no further than today’s guest for that inspiration.

Sarah Wilson paid off $33,000 of student loan debt. Why is this a big deal? Because she did it while making less than $30,000 a year!

Not even considered a “living wage” in most places, Sarah was able to save more than most people in general EVERY YEAR for several years while she ferociously annihilated her debt. If you want some serious motivation to get out of debt and start building your net worth regardless of salary then this is the show for you. Fair warning: This approach is not for the faint of heart.

From the floor of FinCon 2017, we are excited to bring you, Sarah Wilson a.k.a. “YouTube’s Budget Girl.”

Links from the Show

Check the full show notes here: http://biggerpockets.com/moneyshow06

Feb 05, 2018
#05: Jump Starting your Early FI Plans by Live-in Flipping with Mindy Jensen
50:20

Mindy was born in a small town, and then she moved and moved and moved. In fact, moving doesn’t phase her at all, which plays right into the core component of her investment strategy -- The Live-In-Flip. Mindy moves every two years to take advantage of the IRS gift of paying zero capital gains taxes on the sale of her primary residence (up to certain limits).

Mindy shares her wealth of experience with this process, both in a practical sense with DIY tips and tricks and smart financial analysis, and also shares the impacts that this process has on her family life.

Listen to this episode for a different twist on hacking your housing and discover how a family can use the Live-In-Flip to round out a financial plan capable of bringing about early financial independence.

Links from the Show

Jan 29, 2018
#04: From Disorganized to Debt Free Through Budgeting and Routine with Rosemarie Groner
54:58

Rosemarie Groner was a State Trooper - a good, recession-proof job. Chronic disorganization led to more than $30,000 in consumer debt when she made the decision to quit her job to stay home with her first child.

In this episode of The BiggerPockets Money Podcast, Rosemarie shares how she cut $23,000 out of her spending, paid off her debt in less than 4 years, and grew her income to the point that her husband could also quit his day job.

Rosemarie gives you actionable tips for establishing routines that will help get you organized so you can focus your energy on your budget - not your day to day tasks.

Jan 22, 2018
#03: Cutting Your Grocery Bill in Half with Erin Chase from $5 Dinners
51:49

As a mom of (then) two, Erin Chase found herself shopping for groceries without a plan, picking up things that sounded good, but no idea what she’d do with them once she got them home. They made their way into the refrigerator, then on to the trash after they rotted. She knew she had to significantly cut her grocery bill if she wanted to get ahead.

In this episode of The BiggerPockets Money Podcast, Erin shares how she cut her grocery bill in half - while adding two more kids to the mix. She gives actionable tips for significantly reducing your grocery bill - without clipping coupons!

Don’t miss this awesome episode with Erin!

Links from the Show

 

Jan 15, 2018
#02: An All-Out Approach to Financial Independence at an Early Age with Scott Trench
01:00:50

Scott Trench wanted something more out of life, so he grabbed it by the horns and pointed it in the direction HE chose. By accumulating a large financial runway through a 50% savings rate on a median income, he gave himself the courage to take calculated risks, like “hacking” his first house and transitioning out of a nice, safe corporate job to work at a risky internet startup.

Scott talks about the benefits of a four-pronged approach to improving your finances, from achieving a high savings rate and increasing income to investing in traditional assets like real estate and stocks—and, of course, creating new assets and opportunities. What’s more, Scott believes this approach is repeatable for many others who have the discipline to begin the journey by achieving a high savings rate and the courage to use their growing financial resources to seize life’s opportunities as they present themselves. Listen up for an approach to life and money that may enable to you to retire decades earlier than your peers—with more money in your bank account, having perhaps had far more fun along the way.

Links from the Show

Jan 08, 2018
#01: The Surprising (Scientific) Truth Behind What Makes You Successful with Mr. Money Mustache
01:00:44

On this first episode of the BiggerPockets Money Podcast, we speak with Mr. Money Mustache (AKA Pete) about what truly makes you a happy person. (Hint! It isn't money, and it isn't material possessions.) We'll talk about shifting your mindset to pursue financial freedom, how to live for free, tips for living a frugal life, and how to surround yourself with like-minded people. Since this is BiggerPockets, real estate comes up, too.  Don't miss this inspiring episode with one of the founders of the Financial Independence movement!

Jan 01, 2018