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BiggerPockets Money Podcast

Author: BiggerPockets

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

Join Mindy Jensen and Scott Trench (from 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.

150 Episodes
Shannon Gauthier discovered the debt she and her husband had gotten themselves into when a debt collector caller her at work and she started asking questions.Shocked to discover $30,000 in unpaid debts, she quickly found herself a single mom as her husband left.She tried to pay them off as best she could, but found herself somedays deciding whether to buy a gallon of milk or a gallon of gas to get to work.Fast forward a year, and she met a new man who brought significant debt with him to the relationship - to the tune of $60,000!Each of their divorces added more debt to their pile and at the height their debt totaled $160,000. Their income trailed this debt at $65,000 and they knew they'd have to do everything in their power to knock out this debt.They moved in with his parents to pay lower rent and have someone to watch the kids while they worked. They couponed and did free things with the kids to be able to throw every single dollar they could at their debt.This approach paid off, because by the end of the year, they will be completely debt free and be able to start saving and investing and working toward financial freedom.If you're in debt and see no way out, this episode will show you there IS a way to paying down your debt, that it isn't always easy, pretty or fun, but it CAN be done.Links from the ShowBiggerPockets Money Facebook GroupBiggerPockets ForumsDave RamseyPinterestBiggerPockets Money Podcast 130Mindy's email
Scott & Mindy sit down today to answer questions sent in by listeners. They address topics all over the board - from student loan repayment and early retirement account withdrawal under the CARES act, to the best high-yield savings accounts, and planning for the gap between early retirement and traditional retirement age when you can access your retirement accounts penalty free.Scott & Mindy also discuss different investing platforms as well as retirement planning, taxes, and even how inflation might affect your retirement future.They take a couple of calls from listeners to chat about the best current use of retirement funds. This episode will help clear up some of the questions you may be having on your road to early financial independence.Links from the ShowBiggerPockets Money Facebook GroupBiggerPockets ForumsRobinhood Facing Multiple SEC Investigations Into Its Business PracticesHow to Access Retirement Funds EarlyWhat Is a Self-Directed Brokerage Account?BiggerPockets Money Podcast 119BiggerPockets Money Podcast 116 with JL Collins
Blake Nielson is a college professor whose wife stays home to raise their four children. Despite having only one income - and six mouths to feed - they have paid off their home and are on the path to early financial freedom. Blake currently loves his job and has no plans to stop working - but still wants the freedom that financial independence gives.So how did he do it? He started off debt free from college, a HUGE leg up in life in general. Blake details just how he accomplished this feat, from college selection to funds available, scholarships and even working during the school year and especially during the summers between.Blake even shares a Solid Gold tip for finding out about scholarships that aren’t well publicized!Blake also strategically chose where he lived during his college years. He specifically chose a rental that was priced significantly lower than the “college” rentals in town - but still close enough to walk to school.There is no secret to Blake’s success. He put in the work at an early age and is on track to hit lean FI by age 40 and Fat FI by 45. Spend less than you earn, invest wisely. Blake shows you can live the FI life with four kids and one income.In This Episode We Cover:Blake's money storySimple principles of frugality4 keys that any person can go to college debt freeTalking about school selectionHow he budget his moneyHouse hackingTalking about scholarshipsHis experience after getting a PhDBlake's jobThe problem that most people have with negotiationAnd SO much more!Links from the ShowBiggerPockets Money Facebook GroupBiggerPockets ForumsBiggerPockets Money Podcast 80 with Rich & RegularBiggerPockets Money Podcast 32 with Mr. & Mrs. PoPBiggerPockets Money Podcast 64 with Zach Gautier
Belinda Rosenblum is a CPA, a certified coach and her clients include Harvard Business School, Harvard University and the SEC. She’s worked for Arthur Andersen and L3 Enterprises. She’s got money all figured out, right?Well, she does now…On today’s episode, Belinda shares her biggest money mistake - ignoring a giant pile of mail as she cared for her recovering father.Once she cleared that up, she focused on her own finances, growing her net worth to more than $1 million by the time she was 33. She quickly realized that her trajectory was NOT taking her where she wanted to go. So she pivoted.She took a new job with a huge bump in pay and rode out their boom and subsequent layoffs, taking a package to leave and using that opportunity to travel to India, a life-changing experience.When she came back, she realized she didn’t need all the things, didn’t need the stress that came with the big corporate job, and struck out on her own, filling a need she saw in her own friends - financial education.Belinda parlayed her financial knowledge into a multi 6-figures company, pivoting again last year to helping businesses strategically and consistently generate income.This episode is for anyone who has made a money mistake, anyone who has gotten past one, or anyone looking to start their own business to truly live the life they want.In This Episode We Cover:Belinda's journey with moneyHow she worked out with her money managementEmotional side of moneyWhat she did after she was laid offHer experience during her financial advising jobsBiggest challenges for entrepreneursTalking about her businessHow she grow her businessUnconscious spendingHow her clients think about taking the leap away from a job into entrepreneurshipHow to start a businessAnd SO much more!Links from the ShowBiggerPockets Money Facebook GroupBiggerPockets Forums5 Simple Ways to Create Consistent RevenueMoney-Making Tracking Sheets
Life Insurance is the most exciting topic on the planet!Just kidding. But just because it isn’t a super exciting topic doesn’t mean you don’t need to know about it.Today, Joe Saul-Sehy, host of the Stacking Benjamins podcast, joins Scott and Mindy to talk about Life Insurance. Joe comes from a background as a financial planner and was licensed to sell every type of insurance product available.Joe is here today because he understands how life insurance works - how it's priced, how you can use it, the pros and cons of the product - but he has no skin in the game whether you buy life insurance or not.He's the perfect person to explain this product from a factual standpoint and let you make the decision of what type - if any - is best for you, based on facts, not commissions.Joe walks us through the basics and shares how life insurance actually covers you - from term, to whole, to universal life. There's no bad product, only different ways of paying out.If you're struggling with how to figure out what life insurance policy is right for you, this episode can't be missed.In This Episode We Cover:How life insurance worksHow to incorporate life insurance into financial planningWhat bucket of insurance should people be thinking aboutHow does life insurance gets priceWhole life insurance versus term life insuranceUniversal life insuranceWhat decreasing term policy and level term policy areThings that affect insurabilityTax triangleIs life insurance payout taxedWhat age should you get life insuranceWhat makes good life insurance policyCommon reasons for being denied in life insuranceAnd SO much more!Links from the ShowBiggerPockets Money Facebook GroupBiggerPockets ForumsBiggerPockets Money Podcast 40XY Planning Network
Farnoosh Torabi grew up talking about money. Her parents are from the Middle East, and in her culture, they “never miss a moment to talk about money.”As the go-to girl for finance advice among her friends, imagine her surprise when she sat down and looked at her financial situation to discover tens of thousands of dollars in credit card debt! Farnoosh realized that paying for everything with a card, then paying the minimum balances didn’t lead to debt free life.Not wanting to continue a life of debt - mainly so she wouldn’t have to tell her mom - she hustled during school. Taking class notes and selling them on her school’s notes system, babysitting, bird sitting, anything that would generate income so she could throw money at her debt and pay it off.Graduation took her to New York City and a stroke of luck found her a shared apartment with a married couple for $500 a month. Definitely less than she could find on her own. She started off making very little, and strategically increased her income to offset the fact that she “isn’t a good saver.”Farnoosh has parlayed her own financial knowledge into a career teaching others how to manage their own finances. From books, to podcasts, to television, Farnoosh is everywhere, educating this oh-so-important skill so that others can work toward their own financial freedom.In This Episode We Cover:Farnoosh's journey with moneyWhere she learned about moneyTalking about her money behaviourHow she got rid of her debtHer approach on accumulating her assetsHow real estate helped herHer advice on people who are in a relationshipThe leading cause of a divorceThe right time for people who are just starting to date to talk about moneyWhat her asset allocation looks likeAnd SO much more!Links from the ShowBiggerPockets Money Facebook GroupFinConNextAdvisor with TIME | Smart Money MovesBiggerPockets Money Podcast 119BiggerPockets Forums
Felicity’s story to financial independence is going to be similar to listeners of The BiggerPockets Money Podcast. She got a good paying job, spent less than she earned, intelligently invested in Index Funds and is now financially independent at the age of 30.Easy, peasy, lemon squeezy.Except, it’s NOT that easy, actually. She lives in America, and for much of that time, she lived in a very high cost of living city, Boston.Felicity rented a 250 sq ft apartment with her husband, Fergus, while he was in graduate school - because he didn’t want to live above his means, and he was making less money than she was at the time.In fact, Fergus is leery of the 4% rule, and would be much more comfortable if they were only pulling 2%-2.5% of their retirement funds every year.Their story illustrates the point Mindy makes so frequently in this podcast, “personal finance is personal.” Their story also illustrates the path one must take to get to financial independence.Spend less than you earn. Intelligently invest. Stay the course through the tough times. This too shall pass.In This Episode We Cover:Felicity's journey with moneyTalking about her unconscious spending and fixed expensesWhat she did with her money prior to discovering financial independenceThe moment she started his financial independence journeyHow she got obsessed with personal financeConversation about money with her husbandHer approach on her moneyTalking about happinessWhere she planted her moneyAnd SO much more!Links from the ShowBiggerPockets Money Facebook GroupThe Power of Financial Freedom - Fetching Financial Freedom5 Ways Losing 50 Pounds and Saving $1M Was Exactly the SameDonating a Year’s Salary to Our Donor-Advised FundMintMr. Money MustacheBiggerPockets Money Podcast 120 with Michael KitcesMillennial RevolutionMindy's emailScott's email
Doug Nordman wanted to teach his daughter about money. But he knew that to get it right, he’d have to start when she was very very small. So he did. First, he taught her how to count, then he taught her how to add, then he showed her what she could do with money by using cash in transactions.As Carol got older, she was able to handle the cash herself, learning how to make change, count change, etc. Carol started “earning” her own money, through allowance and jobs - which could only be done after her (non-paid) chores were complete.Doug’s common-sense approach to teaching his daughter about money is actually quite brilliant. She starts learning about money - and making money mistakes - when the stakes are low. Your 8-year-old making a $20 mistake is far better than your 20 year old making a $10,000 mistake because he or she never learned how to manage money.Carol joins her dad to talk about how these teachings affected her life - and how she is planning on teaching her own daughter about money and finances. Carol and Doug have combined their recollections of this time together and written a book called Raising Your Money-Savvy Family For Next Generation Financial Independence, and it is the blueprint for exactly how to raise children who are ‘good with money’ and how to prepare them to be adults who are great with money.If you’re struggling with how to teach your children about money, this is a must-listen episode.In This Episode We Cover:Doug's journey with moneyHow he learned to be smart about moneyHow he budgeted money on raising a childWhat does high savings rate means to himCarol's outlook about financeCarol's financial storyOverview of Carol's financial positionLean FITalking about Carol's husband and his view about moneyDoug's advice on how to approach your kids when you are just starting out on this journeyWhere they planted their moneyAnd SO much more!Links from the ShowBiggerPockets Money Facebook GroupCNBCChooseFI
Seth Williams invests in real estate in a way you may have never heard of before. He buys and sells land. And no, he’s not a developer. He literally buys a piece of blank dirt, and then sells it—frequently within days of buying it—for fairly high margins. And he does this without taking out loans for the purchase.How?He’s paying hundreds of dollars for this land, as opposed to hundreds of thousands of dollars for a piece of land with a house on top of it. He turns around and sells it quickly, frequently realizing a 300% profit—or more!Even better? Deals are EVERYWHERE! Land is literally everywhere, and deals can be found very easily. (We discuss several ways to find absentee vacant landowners, many of whom just want to be rid of the property!)Seth shares what to look out for in a deal so you minimize your chances of getting burned and what makes a deal great. He shares different ways to find these deals and even gives guidance for doing your homework so you know exactly what you’re buying.If you’d like to get started in real estate but may not have the funds or simply don’t have the time or desire to run a flip, land may be your way in.In This Episode We Cover:Seth's money journeyHis first land dealThe reason why people buy landHow to get into your first deal buying landWhat you should know about title insuranceDealing with mistakesAll about title searchesTax implications of buying landThe best and worst type of land for those just starting outAnd SO much more!Links from the ShowBiggerPockets Money Facebook GroupDave Ramsey's Envelope SystemThe title search article/videoLand Flipping LifecycleHow to Juggle Your Real Estate Business with a Full-Time JobSix Months After Quitting My Job, Here Are My Honest Thoughts
Chris Browning had dreams of creating movies for Pixar - until he started art classes in college and realized that wasn’t his calling.He was also taking a personal finance class and thoroughly enjoyed it, so he changed his major to finance and never looked back.Chris should have perfect finances, right? Well…Chris found himself in debt after graduating in 2009 and working as a bank teller, trying to impress his girlfriend (now wife). He took control of his finances, telling his girlfriend that they needed to reign in their spending so he could pay off debt. But once his debt was gone, he started saving in earnest for an engagement ring, spent everything he had on that, and found himself in debt again when they started planning their wedding.Life happened, debt continued to stack up until they realized they were $27,000 in debt, with salaries just over that amount - all while living in Southern California.Living paycheck-to-paycheck makes it hard to throw extra money at your debt. Chris and his wife reviewed their spending and were shocked by what they were spending on. Once they knew where their money was going, they were able to drastically reduce their spending and throw more money at their debt.It turns out, tracking your spending and sticking to a budget are both excellent pieces of advice that can help anyone turn their financial situation around and start down the path toward financial independence.In This Episode We Cover:His journey with moneyHow much debt he has on his weddingWhat he did on paying off his debtChanges he make while paying off his debtHow he approached his wife on making changes about their budgetTalking about his emergency fundDave Ramsey's baby stepsHow he plan his retirementSteps towards saving for early retirementWhen did he discover Financial IndependenceHis vision for retirementHow to use credit card responsiblyHis tips on travel hackingAnd SO much more!Links from the ShowBiggerPockets Money Facebook GroupMint: Budget Tracker & PlannerBiggerPockets Money Podcast 75 with Justin from Saving SherpaBiggerPockets Money Podcast 39 with Jamila SouffrantBiggerPockets Money Podcast 15 with Brad and Jonathan from ChooseFIDave Ramsey's Envelope System
Doc G wanted to be a doctor since he was eight years old. He went to medical school, started his career and quickly realized he actually didn’t like all the parts about being a doc - and didn’t know how to leave the profession. Something he’d wanted for 20 years suddenly wasn’t so awesome anymore.Cue The White Coat Investor. He’d written a book and asked Doc G to read it and review it for his medical blog - and suddenly Doc G saw a way out!This way out didn’t have the expected results, however. Instead of jubilation, Doc G was thrown into a spiral of anxiety and depression. Something he’d wanted his whole life, this thing he’d identified with so strongly for so long, and the thought of walking away from such an enormous part of his life was terrifying because now he had a way to do it and it was suddenly real.Having always saved at least 50% of his income, Doc G went to his accountant - who was unfamiliar with early retirement and sort of threw out a number he needed to save to retire. His financial advisor was a bit more helpful, asking questions like, "how much do you spend in a year?" Not knowing, Doc G threw out a number, which turned out to be really close to what his accountant said he needed. But he was still unsure.So he did what anyone in the FIRE community would do - he started reading. Everything and anything he could get his hands on. He realized he had enough money to stop doing those things he didn’t like, so he started practicing what he calls "The Art of Subtraction." He removed the things that did not make his heart sing, so that he could focus on those things he DID enjoy.And his plan worked. He now can spend his working hours doing the things he loves to do, and does not have to do the things he doesn’t. He has focused more time on non-doctor side projects like writing and podcasting - where his enjoyment runs sky high even though the paychecks do not.As his side projects bring more joy, walking away from the physician thing gets easier and easier.Making plans for retirement is great, but today Doc G shares how to plan your transition into retirement which can be even more important! In This Episode We Cover:Doc G's specialty as a doctorHis journey into the medical fieldHow his life changed from being a doctor to investorHow his money journey beganThe art of subtractionStepping away from being a physician and leaving a large paycheck behindQuestioning what truly makes you happyDoc G's portfolioHis rental property businessAnd SO much more!Links from the ShowBiggerPockets Money Podcast 99 with Scott, Whitney Hansen, and Doc GBiggerPockets Money Podcast 6 with Sarah WilsonBiggerPockets Money Podcast 11 with JoelWhat is Hedonic Adaptation and How Can it Turn You Into a Sucka?Hacking Hedonic Adaptation to Get Way More For Your Money
Marquez Griffin graduated from high school but did not feel that college was his path. His uncle worked in a sheet metal shop, and was able to get him a job there.He quickly learned that taking a bit of action with regards to his sheet metal training would catapult him higher in his earnings, so he enrolled in trade school and alternated between work and school to learn the trade faster.His earnings rose as he completed coursework, but Marquez found himself unexcited about his path and started looking for more. Moving in with a friend and his dad turned out to be a real-life Rich Dad event, with his friend’s father introducing him to the concept of saving and investing.Marquez started listening to audio books and podcasts while working in the shop, looking for information about a better life. This self education led him to Scott’s book Set for Life, and then to BiggerPockets where he discovered that House Hacking, real estate investing and that he could marry real estate with a career and go from salaried trade work to commission based agent work where the sky was the limit with regards to earnings.He further discovered the job of Signing Agent and has now incorporated that into his work schedule as well. (For more information about Signing Agents, check out our episode 74 at knew college was not his path, so he followed the path he was meant for and is reaching for Financial Independence on his terms.In This Episode We Cover:Marquez's journey with moneyHis experience working in a sheet metal shopPractical approach on making more money while in schoolThings that influence him to financial freedomHis approach on building emergency funds and investmentsTalking about house hacking and his everyday expensesHow he became a Notary Signing AgentMarquez's portfolioOn index fund investingAnd SO much more!Links from the ShowBiggerPockets Money Facebook GroupBiggerPockets Money Podcast 44 with Tinian CrawfordBiggerPockets Money Podcast 74 with Mark Wills
Kevin Matthews II started paying attention to finance way back in 6th grade - because his parents said they wouldn’t buy him any more video games, he’d have to buy them himself.Kevin’s parents telling him no propelled him into a lifelong planner - saving up for purchases rather than buying and figuring out how to pay it off later. And he parlayed his planning skills into a career as a financial advisor, eventually being named one of Investopedia’s Top 100 Advisors in 2017.Kevin is passionate about teaching people - specifically millennials - how to manage their money. In fact, he’s SO passionate about teaching people how to alter their financial lives, he almost missed the birth of his first child in order to make a video about how $2,000 can turn your kids into millionaires! (Spoiler: He made it back to the room in time.)Kevin wants you to know how to invest, how to manage your money so that you can further yourself down the path to Financial Independence. Kevin has an excellent video called Three ways to get started investing that discusses three ways we’ve never heard of!Kevin credits consistency in investing with his client’s financial successes. He also believes that patience is the number one thing investors need - a point that’s been hit home so clearly in the past few months - and that a lack of patience is the biggest mistake investors are making today.Kevin also shares tips for teaching your children about investing to get them used to seeing ups and downs, so they don’t lose their patience when they start investing with real dollars.In This Episode We Cover:Kevin's financial journeyHow he's saving his lunch moneyBecoming a financial plannerIndividual stocks vs. index fundsWhen he discovered and committed to financial freedomMistakes that he sees new investors makeWhat his end-goal looks likeHow $2,000 can make your kids millionaires3 ways to get started investingAnd SO much more!Links from the ShowBiggerPockets Money Facebook GroupBiggerPockets Money Podcast 129 with Tiffany AlicheBiggerPockets Money Podcast 110 with A Purple LifeBiggerPockets Money Podcast 97 with Financial MechanicBiggerPockets Money Podcast 119BiggerPockets Money Podcast 41 with Kyle MastBiggerPockets Money Podcast 84 with Kyle MastBiggerPockets Money Podcast 118 with Kyle MastBiggerPockets Money Podcast 24 with Erin LowryBiggerPockets Money Podcast 81 with Erin LowryHow $2,000 can turn your kids into millionairesThree ways to get started investing
Susan and Norm got married a little later in life. They started off basically flat, with debts equalling assets. Neither wanted to have the debt, and focused on paying it off and building an emergency fund.Then they discovered that they could retire early if they put their minds to it. So they jumped in with both feet, paid off the mortgage, bought an investment condo, paid it off, and aggressively saved to buy the second condo.From the time they met until the time they were ready to retire, starting with basically a $0 net worth, was 12 years. Starting at age 43.The one constant in their journey is their partnership, their commitment to each other and the end goal, and their desire to “be in this together.” Susan and Norm have a very clear respect and love for each other, never keeping score, never trying to hide a mistake from the other, always recognizing that they’re building their life together.When starting on the journey to Financial Independence, it can be difficult to say the course - especially when your journey starts later than most. Susan and Norm and an excellent example of what CAN happen when you make a goal and aggressively pursue success.This episode is for anyone who is struggling in their journey to FI, have hit a setback they feel is insurmountable, or anyone who is just getting started on their journey a little later in life.In This Episode We Cover:When did they start saving for retirementHow they approach the conversation about moneyThe decisions they make on housing, transportation, and foodHow they paid off their debtWhat their emergency fund looks likeWhat their company doWhat they learned about the 401k benefits from a self-employment perspectiveTalking about their multiple income streamsThe book that made their mindset shiftPeer-to-peer lendingWhat they will do when they are fully retiredAnd SO much more!Links from the ShowBiggerPockets Money Facebook GroupBiggerPockets Money Podcast 24 with Erin LowryCash Cow CouplePersonal CapitalDave Ramsey's Financial Peace UniversityStarting Late, But Retiring Early: A Case StudyMindy's email
Today, we welcome back the Budgetnista, Tiffany Aliche. When we spoke to her way back in episode 8, we heard her story of an investment gone wrong and how 2008 really threw a monkey wrench into her life plans. But instead of allowing that to deter her, Tiffany committed to teaching people how to budget.Since we last spoke, she has expanded her original, uber-successful Live Richer Challenge ( into a savings edition, a credit edition, a net worth edition, and a homebuying edition—all free and all designed to teach you the things you never learned about money and finance.Tiffany is SO PASSIONATE about personal finance that she worked tirelessly for more than two years to get a bill passed in New Jersey, mandating financial literacy education for middle schoolers. (Want to duplicate her success in your state? Here’s a video that details how she did it: How to Get a Law Passed with Assemblywoman Angela V. McKnight.But she’s not done! Tiffany has combined her love of budgeting with her love of teaching children in her new book Happy Birthday Mali More, and on today’s episode, she shares her top tips for teaching your children the fundamentals of managing money properly.If you have children, this episode can help you figure out the age-appropriate lessons you should be teaching them to help them grow into financially responsible adults.In This Episode We Cover:The Budgetnista LawThe reason why parents have a hard time teaching their kids about moneyThe concepts that parents should teach at various agesHow early should parents start teaching their kids about money?Communicating the concept of financial freedomHow Tiffany got her husband on board with financial freedomAnd SO much more!Links from the ShowBiggerPockets Money Facebook GroupLive Richer ChallengeBiggerPockets Money Podcast 08 with Tiffany Aliche
Whitney Hanson is one of six children. Growing up she watched her father start a business, watched it fail, and watched him turn destructive, eventually leaving her mother to raise six kids on her own - all while making $7.25 an hour.Whitney has seen the ugly side of money - and what can happen when you have none - and decided she wanted no part of it. Money equals options, and she wanted as many options as she could get! She began to research how to build wealth, because she did not want to perpetuate the cycle of poverty. She knew she wanted to go to college, but also knew she’d have to find a way to pay for it. Rather than taking out tons of student loans, Whitney went through a 3-month cosmetology program starting the day after she graduated high school, and used the money she made as a nail technician to pay for college. Because she values financial stability over everything else, she bought a house when she turned 19 - and house hacked by renting two rooms to friends to help with the mortgage. Upon graduating college, she realized she had taken out $30,000 in student loans that now had to be paid back. Rather than allow it to rule her life, she cut out everything and worked a second job in order to knock out her debt - in 10 months!Whitney knew she had figured out how to lead a healthy financial life - and was eager to help others solve their own financial struggles. She started a coaching program to help financially empower people, and help them navigate the beginning stages of their financial journey.Whitney’s story is 100% repeatable for anyone listening. She came from nothing, and made it on her own.In This Episode We Cover:Whitney's journey with moneyDifference between a want and a needHer personal financial situation during highschoolWhat her job is while she's studying collegeThe reason why she bought a house at 19 years oldWhitney's tips for studentsTalking about scholarshipsOn her adulting momentHer ways on how she paid off her debtHer journey in creating a business during her MBA programTalking about her cashflowBiggest challenges that people are facing who she talk with about financesAnd SO much more!Links from the ShowBiggerPockets Money Facebook GroupBiggerPockets Money Podcast 64 with Zach GautierBiggerPockets Money Podcast 80 with Rich and RegularBiggerPockets Money Podcast 112 with Natalie KolodijBiggerPockets Money Podcast 111 with A Purple MomPersonal CapitalXY Planning NetworkThe Money Nerds Podcast 13 with Mindy JensenThe Money Nerds Podcast 37 with Mindy Jensen
Ramit Sethi from I Will Teach You To Be Rich is back again to chat with Scott & Mindy about money, unexpected events, and taking advantage of opportunities by being prepared. Ramit does not hold back with his advice that the Coronavirus should be a financial wakeup call to you. A crisis like this WILL happen again (maybe not viral) and NOW is the time to prepare yourself.He’s increased his recommended Emergency Fund to one year of expenses. If you’re struggling right now, you should be making minimum payments because “money in your pocket now is worth more than money in your pocket later.” Start crafting your emergency plan even if you don’t think you’re going to need to use it. Panic is bad, but overreaction is good. Don’t worry about looking stupid. One of the reasons you save is to be prepared for the worst. So prepare. If you’re financially stable and strong, Ramit also has some tips for taking advantage of this crazy time we’re living in. Have you ever wanted to start your own business? While it can seem counterintuitive to start a business in these uncertain times, it’s actually a fantastic time to start. Your target audience is WAITING for you to fill the need they are having RIGHT NOW. Even better? Ramit and Mindy discuss Mindy’s pain points regarding homeschooling - and Ramit comes up with 3 6-figure business ideas on the spot!Scott & Mindy also discuss Dollar Cost Averaging, finding a new job now, and paying down debt.Looking for more options in the coming months? This episode can’t be missed.
Financial Education is so important - but so many people are graduating high school without the basic skills to make informed decisions.Today, Scott & Mindy sit down to share some of the big money moves you should make - as well as some of the big money mistakes you should avoid.These are the tips you didn't learn in high school. From choosing a major wisely (or even deciding if college is truly the right choice for you) to paying for college, to truly understanding just how much it will cost you to pay back your student loans, the decisions you're making now, entering college, are going to affect your financial future for years to come.They also discuss relationships, and how those can also have a huge impact on your finances.Other big decisions you need to consider include how and when to get a first credit card - and how to use it properly to improve and increase your credit score.Scott & Mindy also dive into just exactly what a credit score is - and how its far-reaching influence can affect your job and housing.Scott also shares his unique views on wants and needs - and how to minimize the costs of the needs so you can afford a few wants.This episode is a great intro to financial education for young adults who are eager to make excellent financial decisions and put themselves on the path to freedom.In This Episode We Cover:Decision-making process after highschoolThe difference between subsidized and unsubsidized student loansThe importance of calculating total student loansEverything you need to know about credit scoresThe difference between good and bad debtHow relationships impact money and the importance of prenupWants vs. needsRoth IRAs, traditional IRAs, and 401(k)sHow to set up automatic investmentsAnd SO much more!Links from the ShowBiggerPockets Money Facebook GroupMindy's Post on BiggerPockets Money Facebook GroupBiggerPockets Money Podcast 44 with Tinian CrawfordBiggerPockets Money Podcast 22 with Travis HornsbyWhich to Borrow: Subsidized vs. Unsubsidized Student LoansStudent Loan CalculatorBiggerPockets Money Podcast 64 with Zach GautierBiggerPockets Money Podcast 35 with Craig CurelopBiggerPockets Money Podcast 81 with Erin LowryFidelity InvestmentsVanguard
In today’s episode, we speak with Fritz Gilbert from The Retirement Manifesto and go through his checklist to ensure a smooth transition into your new life.Fritz speaks from experience and wrote the checklist during his own transition, starting five years out.Oh yes, FIVE YEARS. If you want a smooth transition, you’ll need to plan ahead.Scott and Mindy go through the checklist with Fritz, starting at five years before your retirement date. (They even touch on what to do BEFORE five years out.) Fritz’s list is extremely thorough and includes things you’ve most likely NOT even thought about.From paying down debt to checking in with a financial planner to transferring all that personal stuff you currently have on your work computer or in your work email, we cover the obvious. But more importantly, we also touch on the “Oh man, I totally forgot to do that” stuff, which can be the difference between a seamless transition and one filled with “I wish I had done things differently.”Fritz is such an expert in retirement planning that he wrote a new book about it: Keys to a Successful Retirement: Staying Happy, Active and Productive in Your Retired Years.In this book, Fritz shares 24 keys to a great retirement—once you’ve made sure the transition goes well.If you are on the path to retirement, this episode is NOT to be missed!In This Episode We Cover:What his pre-retirement checklist is all aboutWhat his financial position looks like five years prior to retirementHis advice to people who are pursuing financial independence before startingThe "one more year" syndrome5-year, 3-year, 2-year, 1-year, and 6-month checklists before retiringQuitting your jobAnd SO much more!Links from the ShowBiggerPockets Money Facebook GroupBiggerPockets Money Podcast 41 with Kyle MastBiggerPockets Money Podcast 84 with Kyle MastBiggerPockets Money Podcast 118 with Kyle MastBiggerPockets Money Podcast 55 with Millennial RevolutionBiggerPockets Money Podcast 55.5 with Millennial RevolutionLastPassThe Ultimate Pre-Retirement ChecklistEarly Retirement Calculator20 Steps To Take In The Before RetirementThe First 6 Steps To Financial WealthSo You Want To Be A MillionaireFreedom For Fido
Gerry Born is a teacher who is married to a teacher. He started his financial independence journey when he was 33—with a wife, $45,000 in college debt, and a job in Saudi Arabia teaching English as a second language (ESL).He knocked out his debt in two years, then threw everything he could into savings. The ESL job provided everything but internet and phone, so he really didn’t need to spend much money if he didn’t want to.After 9/11, they moved back to the United States and got jobs teaching—and you know what kind of salaries teachers make!Unhappy with that particular school, they moved on to a different one and discovered the magic of the 457 plan. A 457 plan is an additional retirement savings vehicle available to teachers and some public employees. It has the same contribution limits as a 401(k) but can be immediately accessed penalty-free as soon as you separate service from your employer.Gerry uses this to fund his life while reducing his taxable income to as close to zero as possible.If you’re starting late—or if you’re a teacher or public employee—this episode provides tips for funding retirement that will blow your mind!In This Episode We Cover:How he retired early on a teacher's salaryThe tax advantages he swears byThe reason why he maxed out his 457 plan firstWhat a 403(b) plan isHis job in Saudi ArabiaHow he got into the concept of financial freedomHow he paid off his debtHow he saved his moneyHow he maximized his incomeAnd SO much more!Links from the ShowBiggerPockets Money Facebook GroupBiggerPockets Money Podcast 39How We Saved 250k by Taking Crappy Jobs - The Millionaire EducatorMr. Money Mustache
Comments (33)

Matthew McKibben

I need to listen to this episode at lease 4 times. on the really good ones I try to listen twice and then twice sitting down taking notes and this is for sure the one I'm going to do that with

Aug 21st

Matthew McKibben

I love the show. I've been listening to BP the original for years now and in some ways I like this one almost more. its diverse and always goes over stuff that's really helpful with how to live and grow your wealth.

Jul 8th

Matthew McKibben

I am for sure going to start doing this. I can cut but I suck at grocery shopping and a lot of my food goes to waste. I've wanted to start meal planning and I'm going to check out Erin's website and really start doing what I need to cut my spending in this area.

Jul 8th

heather lakes

how exactly is he the right person to give advice on this topic??? he didn't have student loan debt...

Jan 5th

Jawad Rasul

I am curious to know the answer that Scott asked. What were the 20 cities and what data points was she looking at?

Dec 2nd

Jason Leonard

climate change.... really?

Nov 22nd
Reply (2)

Megan Buchheit


Jun 18th

Steve Diahy

Make 90k thats the fastest path

Jun 17th

D Lewis

Incredible!! Thank you for this episode. Paradigm shift for me when thinking of working smarter not just harder.

Jun 5th

Steve Diahy

she was recently on 2 other podcasts

May 30th

Scott Bramlett

Liberty Shares is what you are looking for.

May 6th


Doug Nordman, David pear

Apr 16th


Money mustache and mad finatist

Apr 15th

Dujon Blondel

so stoked to listen to this. I'm happy that he mentioned the richest m in Babylon and think and grow rich! have a good day

Feb 28th

Ivan Terrero

I can relate to this episode

Feb 17th

Travis Lee

In general I love this show, so thank you! However, I thought it was in very poor taste and offensive when at the end of this show Catholic beliefs were laughed at and ridiculed. Despite your guest's sound relationship advice in regard to finances, she obviously doesn't understand Natural Family Planning or her Church's teachings on the matter. Her "joke" was in very poor taste.

Feb 15th

Mr Charles

I am enjoying the podcast but my only complaint is they need to figure out the audio. Sometimes Mindys mic is so low can barely hear her. the one episode I was listening to earlier I think it was 29 and the audio kept popping .I am listening to this while I'm driving and I have the volume turned up so high on my radio in the truck trying to hear everything that it deafans me when the GPS gives me directions

Feb 7th

Austin Eschan

This is awesome . Great episode

Feb 6th

Dujon Blondel

thank you for a wonderful pod cast filled with information. I am grateful to hear this while working on my budget and financies!

Jan 20th

Jordan Thomas

This is a great show that can help anyone looking to learn more about personal finance, saving for real estate investing, or just becoming more efficient in any area of life

Nov 19th
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