BiggerPockets Money Podcast

by kevin@biggerpockets.com

68m

average length

227

episodes

2

followers

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.

Best BiggerPockets Money Podcast episodes upvoted by the community

Last updated on May 28, 2020, 3:59 am

#2

77: Entrepreneuring Your Way To Financial Freedom with Pete Mockaitis

June 17, 2019 • 57m

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 BiggerPockets Forums How to Become an “Overnight” Success in 10 Short Years with David Greene How To Be Awesome At Your Job Episode 386: How to Earn More, Spend Less, and Build Wealth with Mindy Jensen BiggerPockets Money Podcast 73: Ramit Sethi Will Teach You to Be Rich! BiggerPockets Money Podcast 56: Change Your Personal Finances (& Your Millennial Money Mindset) with Paychecks & Balances Podcast Movement

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#9

69: From Near Death To Debt Free With Liz from Chief Mom Officer

April 22, 2019 • 65m

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 Mad Fientist HSA - The Ultimate Retirement Account BiggerPockets Money Podcast 64: Scholarships and Other Ways to Pay for College with Zach Gautier Harvard Business Review - Case Study BiggerPockets Podcast

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#10

#78: How to Talk to Your Parents About Money with Cameron Huddleston

June 24, 2019 • 69m

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 BiggerPockets Forums Kiplinger

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#11

#55.5: Testing Your Portfolio BEFORE Retirement with Millennial Revolution

January 15, 2019 • 38m

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 BiggerPockets Money Podcast 55: How to Quit Your Job and Travel the World with Millennial Revolution FIRECalc The MathShitUp-Inator - Millennial Revolution Penguin Random House The Yield Shield: Putting It All Together - Millennial Revolution How Not To Deplete Your Portfolio In Retirement - Millennial Revolution Mr. Money Mustache Early Retirement & Financial Independence Community

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#12

#67: How Living An Intentional Life Led to Financial Freedom With Steven Donovan

April 08, 2019 • 74m

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 eBay BiggerPockets BiggerPockets Money Mr. Money Mustache Early Retirement Extreme Mad Fientist Waffles On Wednesday Make Your Own Free Mobile Expense Tracking App in 30 Minutes - Waffles On Wednesday

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#13

#58: Optimizing Every Channel to Achieve Financial Freedom with Grant Sabatier

February 04, 2019 • 75m

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 BiggerPockets Money Podcast 28: How Anyone Can Easily Make Extra Money Using Side Hustles with Nick Loper BiggerPockets Money Podcast 35: Hacking Your Life to Live for (Almost) Free with Craig Curelop BiggerPockets Money Podcast 24: Getting Financially “Naked” with Your Significant Other — With Erin Lowry BiggerPockets Money Podcast 50: Rebuilding Your Financial Life After Bankruptcy with Patrice Washington Google AdWords BiggerPockets Podcast BiggerPockets Money Podcast BiggerPockets Forums BiggerPockets: Real Estate Investor Deal Diaries Lyft Uber The Coffeehouse Investor Mad Fientist BiggerPockets Money Podcast 18: Accessing Retirement Funds Before Age 59½ with The Mad Fientist Glassdoor Amazon Free Solo Documentary FinCon Upwork

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#15

101: Building a Life of Financial Independence, Starting From Less Than Zero with Sunitha Rao

December 01, 2019 • 57m

Sunitha Rao remembers a childhood of scarcity. Born to immigrant parents, some of her first memories are of her home being broken into, and her things being stolen. The only money lessons she was taught as a child were frugality and saving, because you never knew what was going to happen.Her father had grand tennis plans for her, and pushed her into tennis. By age 9, she was playing tennis six hours a day. School was so low on the priority list she dropped out in 6th grade to pursue tennis full time.She turned pro at age 14, but all the money she made went back into her career: coaches, travel to events, more training.When Sunitha retired from tennis, she had nothing left. She estimates she “maybe had $1000 in the bank.” Her relationship with her father was so abusive, she sought a restraining order against him and started over, rebuilding her life at age 23.Starting off at community college, looked up endowment programs in Boston because she liked the city, and reached out to colleges that offered scholarships. Finishing college she got a corporate job, which was her goal - until she started working there. She realized her corporation didn’t have any loyalty toward her, so she started looking for ways to generate income outside of her salary and discovered real estate.She now owns multiple units in the midwest, and is on the path to financial independence, starting with nothing but a 6th grade education at age 23. If you’re thinking you started too late, Sunitha’s story shows that financial independence is possible - at any age.In This Episode We Cover:Sunitha's journey with moneyOn having a scarcity mindset around moneyHow she turned into a professional tennis player at age 14What happened to her money being a professional tennis playerWanted to succeed in the corporate worldHer journey at a community collegeHow she found endowment programsPros and cons about going to college at different age bracketHer highs and lows point being a professional tennis playerWhat realization that sparks her journey to financial independenceHad their house governed by domestic abuseBelieved on being diversifiedStarted real estate business at IndianapolisWhat her goals going forwardOn domestic and financial abuseHow did she leave from a domestically violent relationshipAnd SO much more!Links:BiggerPockets ForumsThe Domestic Violence Hotline - 1-800-799-SAFEGRIFFIX Property Group

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#16

87: How to Save Money For Your Downpayment with Scott & Mindy

August 26, 2019 • 66m

In Episode 83, Scott and Mindy discussed how to buy your first property. And they were peppered with questions about the buying process after it came out, but the top question they got was “How do you save for your downpayment?”In today’s episode, Scott and Mindy dive deep into the process that happens BEFORE you start looking for a property. Things like getting your credit score as high as possible, getting your taxes in order, and the TRUE cost of closing.They also explore PMI - when it makes sense to pay it down and when it’s OK to continue to pay. They even share a story from a listener who was able to buy out his $100 a month PMI payment for $1500.If you’re looking to buy a house, but not sure where to start, this episode will definitely put you on the right path.In This Episode We Cover:Things to do before buying a houseGet your taxes in orderDisadvantages of being a self-employedMindy's story of buying her current houseAvoid making big purchases until after you close on your loan completelyUnderstanding closing costWhat to expect on your closing costWho pays for the closing costTalking about downpaymentDo you get your earnest money back if you don't buy the houseOn finding a good agentWhat an earnest money isWhat a downpayment isOn Private Mortgage InsuranceOn finding a good inspectorHow to save up for the downpaymentAnd SO much more!Links from the ShowBiggerPockets ForumsBiggerPockets Money Podcast 83: Buying Your First House with Scott & MindyBiggerPockets Money Podcast 35: Hacking Your Life to Live for (Almost) Free with Craig CurelopBiggerPockets Money Podcast 10: Designing a Frugal But Luxurious FI Life by Age 32 with Liz Thames

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#17

94: 18 Options for Healthcare in Early Retirement with Lynn Frair

October 14, 2019 • 69m

The absolute MOST FREQUENTLY ASKED question I get about Early Retirement is “What do I do about healthcare?”Without going into too much detail, we’re all aware that healthcare costs are fairly ridiculous in America. Not properly planning for healthcare can be catastrophic - one unexpected event can literally wipe you out.Lynn Frair from FIHealthcare.com joins us today to share the results of her intense research into the options available to early retirees. She has found 18 different healthcare options and shares them with us. She also has created a crowdsourcing database for other options. (If you’ve got a different way to procure healthcare, she’d love to include it in her database!)If you are on the path to financial independence, you NEED this episode.In This Episode We Cover:How Lynn became interested in financial independenceHow she began investing at age 12The process of researching healthcare options18 different options for healthcareHealthcare preventionThe difference between deductibles, co-pays, and premiumsAnd SO much more!Links:Mr. Money MustacheReeditMilitary DollarBloombergHealthCare.govFinConBiggerPockets Money Podcast 80: Managing Money: How a Saver & a Spender Are Living Happily Ever After with Rich & RegularRich & RegularFrom Childhood Poverty to Financial Freedom by Age 32 with Jillian JohnsrudMontana Money AdventuresEconoMe ConferenceProfiles:Nurse NumbersLynn's emailFI Healthcare

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#18

100: From Financial Disaster to Real Estate Master with Brandon Turner

November 25, 2019 • 96m

You probably know Brandon Turner from the BiggerPockets Real Estate Investing podcast. On that show, he sounds like he’s got his life all together. But before he discovered the RIGHT way to do real estate, he made mistakes. LOTS of mistakes.Today, Brandon shares everything he did wrong - from financing rehabs with a credit card to accumulating six figures in debt on properties he couldn’t sell.But the most important thing Brandon did was learn from his mistakes. He read Total Money Makeover by Dave Ramsey and put the lessons learned from that book into action, paid off his debt and started living the life he truly wanted.The episode is for people who’ve made mistakes, who are in debt or struggling to find a path to financial freedom. Brandon shows you that it’s OK to make mistakes, you CAN recover, and the life you want is within your reach.In This Episode We Cover:Brandon's journey with moneyHow to learned negotiating from his motherThe reason his mom bought him a book on how to handle moneyHis financial position after collegeHow he got a No-Doc loanBought properties to flip and turned them into rental propertiesWhat hard money loan isHis rock bottom experienceRead a hundred books on real estateThe reason he got into buying rentalsHow he convinced his wife to invest in rental propertiesStarted saving money by doing the cash envelope systemWhat seller financing isHow he bought his 24-unit apartmentThe importance of building integrityHow they met Josh DorkinHis balance sheet when he retiredBrandon's advice on investingLinks:BiggerPocketsBiggerPockets Real Estate PodcastBiggerPockets Business PodcastBiggerPockets ForumsThe BiggerPockets Book StoreBiggerPockets Money Podcast 42: How to Invest in Real Estate with Joshua Dorkin & Brandon TurnerRental Property Calculator from BiggerPocketsThe Dave Ramsey ShowPodcast Movement

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#20

70: 7 Tips for Successfully Investing in ANY Market Condition With J Scott

April 29, 2019 • 87m

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 BiggerPockets Real Estate Podcast BiggerPockets Bookstore J Scott's Books on Amazon Using the Power of Goal-Setting to Fundamentally Alter Your Financial Path with J Scott (episode) BiggerPockets Forums Mint Credit Karma Annual Credit Report TransUnion Equifax Experian

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