Biggerpockets Money Podcast

You want to retire, but you’ve got credit debt, auto loans, and student loans. It feels like every time you get your paycheck, it quickly slips away, and at the end of every month, you’re left in the same position, or worse, than thirty days prior. What’s happening, and why is it SO hard to get out of debt? And will you EVER be able to retire if you keep living this way? Seth Godwin was fired from his job while holding $30,000 in credit card debt. He had no way to pay it off, but somehow, over the next two years, he was able to become debt-free, increase his credit score by hundreds of points, and become one of the internet’s leading financial influencers. After crawling out of debt, Seth began working at a financial institution, looking at car loans, realizing how many people, like him, had been scammed into throwing tens of thousands of dollars away. Now, on the other side of the financial spectrum, Seth is financially flourishing with a steady stream of income, stable investments, and twenty-seven (!) cred

Will the housing market crash? If you’re like most Americans, the economy is starting to feel a bit unsettling. But, with so many homeowners locked into low mortgage rates or owning their homes outright, is there even a possibility of a housing crash, regardless of whether a recession does happen? The answer isn’t as straightforward as most people think, and if you don’t know the facts, you could get caught off guard. Mindy and Scott are back to answer YOUR money questions. This time, we’re taking questions from our Facebook Group, and MANY have to do with mortgage rates, home sales, and a potential crash. First, we answer what could cause a housing market crash in the near future. Then, a listener asks whether or not they should sell their home to pay off credit card debt. An investor wants to know if paying off their mortgage early beats the stock market, and a divorcee seeks to sell her home because of “bad juju.” The problem? She’s got a killer mortgage rate. Finally, we’ll debate stocks vs. real estate a

Marriage and money are known for mixing like oil and water, but a little financial knowledge will allow you to navigate these sensitive issues with confidence. Today’s guest is an expert on this front and is here to equip you with some future-saving finance tips! Welcome back to the BiggerPockets Money podcast! In this episode, we’re joined by Tracy Coenen, a forensic accountant who specializes in unearthing money shenanigans in marriages. On most days, Tracy works closely with spouses who suspect financial infidelity or that their partner is making financial arrangements in preparation for a divorce. This is a vulnerable position for any partner to be in, but with Tracy in their corner, they can better handle their finances and weather the storm. Whether you’re single, preparing for marriage, or filing for divorce, this episode is loaded with all kinds of personal finance tips that will help you protect your financial future. Tracy shares why it’s critical for all couples to draft up prenuptial agreements be

What if one part-time side hustle could replace your entire income? Even better, what if you could keep your full-time job and spend a few hours a week making thousands extra a month, raking in cash, and reaching financial freedomfaster? If you’re today’s guest, Ryan, then this is the situation you find yourself in. Don’t know which super lucrative side hustle we’re talking about? Stick around because you may have never thought of it before. Ryan works full-time as a registered nurse in one of the most expensive areas of the country, Northern California. He’s made some ingenious money moves that allowed him to quadruple his income in just four years and live close to free every month in his own house. But, with a baby on the way, Ryan’s lucrative house hacking lifestyle may be coming to a close, and he’s debating what to do next. Should he pay off student loans, buy another home for his new family, stay in his current property, or expand his successful side hustle? The good thing is that any of these moves co

Vivian Tu, AKA “Your Rich BFF,” is the internet’s expert on money and personal finance. She was doing schoolyard trades before she worked on Wall Street, and now, as the host of Networth and Chill, she talks about the much more profound aspects of finances. Stuff like love, marriage, happiness, and when to ditch another date with someone who could put you in financial ruin. Americans tend to think with their hearts and less with their heads when finding love. The problem with that logic? Money is usually the single-largest reason for divorce, so if your partner doesn’t have their money right, your relationship could be rocky. So, how do you know from the jump if someone is financially savvy enough to build your life with? And, if you already have a partner, what do you do if they’re not in the financial spot you need them to be in? In this episode, Vivian walks through the financial red flags you should look for on a first date, questions to ask to see how a potential partner is doing financially, the BIGGEST

Many real estate syndications are facing absolute failure in 2023. But, even if you aren’t investing in any, this could be a learning experience like no other to help you build your wealth in the future. If you’ve never heard of a real estate syndication before, here’s a quick summary: a real estate syndication is where an “operator” raises money from a group of investors to buy a large commercial property, often an apartment complex, self-storage facility, or housing community. Over the past ten years, these investments have boasted massive profits, but everything is about to change. Real estate syndications face obstacles like they never have before. Rising interest rates and vacancies, a backlog of evictions, plummeting prices, and inexperienced operators who have NEVER been in a down market. These failed deals could lead to opportunities for you to invest at a massive margin, but how do you know which deal is worth putting money into? J Scott, world-famous investor, flipper, syndicator, and author, is on

Want passive income? Well, DON’T invest in rental properties. Buy REITs (real estate investment trusts) instead. Yes, you read that right. Although rental properties are a phenomenal way to build wealth and cash flow and pay fewer taxes on your income, they aren’t the most “passive” type of investment around. Between the 2 AM tenant phone calls, leaky toilets, evictions, and common headaches of owning a house, rental properties might not be worth the extra incomefor most Americans. But REITs probably are. REITs are traded on the stock market just like your favorite index fund. The difference between REITs and traditional stocks? REITs let you buy a share in a large landlord company, which passes their income down to you via dividends and often an appreciating share price. And now, as many commercial real estate values are dumping, top REITs could be selling at a HUGE discount. So, how do you start investing in them? We brought Jussi Askola on to help. Jussi runs Leonberg Capital, where he consults with some o

Tyler and Jenna need to know how to retire in ten years or less so they can spend less time working and more time with their family. The problem? They’re spending more than $10,000 monthly in expenses, and even with a high salary, that hurts their bottom line. But, a bigger problem to take care of is the six-figure savings sitting in their bank account, not bringing them any closer to becoming financially free. So, what should they do next? Today, Mindy is joined by her husband, Carl, as these lucrative lovebirds advise a young couple who just had their first child and are looking to speed up their early retirement timeline. Tyler works in finance, taking home a stable income, and Jenna runs her own business that’s still expanding. They want to increase their incomes, invest more, and move closer to early retirement, so where do they start? With three FI-friendly investment options—index funds, short-term rentals, and syndications—Tyler and Jenna can use any (or all) of these to multiply their wealth. But, on

Financial trauma is an extremely common roadblock on the journey to financial freedom. In fact, most people deal with this issue on some level, even if they aren’t aware of it. Whether your trauma patterns stem from your parents’relationship with money or an instance of financial abuse, know that there’s light at the end of the tunnel! Welcome back to the BiggerPockets Money podcast! Today’s guest is Shannah Game—author, entrepreneur, certified financial planner (CFP), and host of the Everyone’s Talkin’ Money show. Shannah would be the first to tell you that her relationship with money has been far from perfect. Having grown up in a family where money decisions were always heavily scrutinized, Shannah has worked hard to not only address her own deep-rooted money trauma but also help others overcome similar traumatic patterns in their lives. If your negative experiences with money are preventing you from achieving your financial goals, tune in as Shannah shares her expertise on an issue that is sorely overlook

If you’re new to personal finance, investment accounts can seem complicated. The terms, the lingo—HSA, Roth, IRA, 401(k)—these may seem like letters in an arbitrary order, but using these retirement and investment accounts can help you reach financial freedom faster, pay WAY less in taxes, and maximize your money even while you’re asleep. So, how do you get started? Tune in; we’ll show you how! Joining us is early-retired CFP (Certified Financial Planner) Kyle Mast to walk through each retirement, investment, and savings account you MUST have on your road to FIRE. In today’s episode, we’ll touch on the common accounts you’ve heard of, like the 401(k) and IRA, as well as some lesser-known investing and savings accounts that can help your money grow faster than you thought possible. And whether you’re just starting your retirement journey in your 40s, 50s, or 60s, or you’re a twinkly-eyed twenty-something-year-old ready for compound interest to run its course, you’ll get EVERYTHING you need to know about invest

This “financial order of operations” could be your ticket to financial freedom. If most Americans followed these steps, they would find themselves debt-free, with full retirement accounts, passive income, and “wealth-accelerating” investments that only top-income earners can access. But you don’t need to make hundreds of thousands of dollars a year to follow this “Stairway to Wealth”; you just need to follow these steps! Andrew Giancola from The Personal Finance Podcast built the “Stairway to Wealth” after realizing that the common wealth-building plans, like Dave Ramsey’s “Baby Steps,” wouldn’t fit most people’s lifestyles. Instead, Andrew worked to develop a system that almost anyone could use, one that was tailored to TODAY’s financial environment and gave people more of a choice when it came to their investments. Following this nine-step plan, you can go from low cash and high debt to debt-free, financially safe and secure, and invested for your future. Whether you’re starting on step one or step nine, th

The fear of Job loss has become real for most Americans. And if you’re falling into the “middle-class trap,” a sudden loss of income could be even more severe. After the recent tech layoffs of 2022 and 2023, businesses outside of the Silicon Valley bubble are starting to feel the effects of higher interest rates and lower consumer spending. But what happens if YOU’RE the one who’s getting laid off? Will you be able to pay the bills? How much of a severance package can you expect? And what moves should you make NOW to get ahead? Mindy and Scott are taking questions directly from listeners to put YOU in the best financial position possible. On this show, you’ll learn what to do AS SOON as you hear about layoffs in your company, how much you could get paid for severance, and why you CAN NOT rely on unemployment for everything. Next, we hear from a high-income earner who can’t get out of debt and is stuck in the “middle-class trap.” For those with too much cash on their hands, Mindy and Scott get into investing i

People spend much of their lives grinding to Coast FI, but the truth is that you’re only ever one big financial swing from achieving your FI goals much faster. Despite starting out with very little, today’s guest was able to break the cycle and reach her Coast FI goal in just four years. In this episode, she shares the blueprint for her “overnight” success! Welcome back to the BiggerPockets Money podcast! Today, we’re speaking with finance guru and real estate investorAmberly Grant. Amberly didn’t come from wealth. Growing up, her family never owned a home or had enough money to afford simple repairs. But, at fifteen, she discovered the book The Wealthy Barber, which ignited her love for finance. After several failed business ventures and a late start to college, Amberly discovered the power of real estate investingin 2019. House hacking covered her mortgage each month, and keeping her expenses down allowed her to save most of her income and buy more properties. In this episode, Amberly demonstrates just how

Want to know how to invest $10K, $25K, $50K, or even $100K? The average American household has $41,600 saved. While that’s a decent chunk of cash, it’s not working very hard for you by sitting in a savings account, is it? Fortunately, there are all types of ways to invest that money and grow your nest egg much faster! Welcome back to the BiggerPockets Money podcast! In this “sequel” to our $100-$5,000 episode, we’re looking at ways to invest a much larger amount of money—$10,000-$100,000. Scott and Mindy are joined by guest hosts Kyle Mast and James Dainard, who share their own expertise on where to allocate your capital. Even with the diverse perspectives, all of our hosts agree: don’t just sink your money into your primary residence or fancy car and call yourself a millionaire! The moves you make today could determine your financial future. Stay tuned as our hosts offer active and passive investing ideas to consider, depending on your risk tolerance. You’ll also learn how to get one-hundred percent financin

Financial fear is… a good thing!? Fear is an uncomfortable feeling we often try to ignore or suppress. But what if, like other emotions, it exists for a specific purpose? What if following it could help you avoid deathly decisions? Today’s guest is here to set the record straight on this very basic yet misunderstood human emotion we call fear. Welcome back to the BiggerPockets Money podcast! In this episode, we’re speaking with leading personal finance expert and host of the So Money podcast, Farnoosh Torabi. Ahead of the release of her new book, A Healthy State of Panic, we discuss the emotion at its center—one that is so often intertwined with money: fear. There are all kinds of financial fears that cripple people today—the fear of a stock market crash, of losing their job in a recession, or of running out of money in retirement. Farnoosh is here to tell you that fear isn’t a bad thing. In fact, it’s often the catalyst for a brighter financial future. If you struggle with a particular money-related fear, gu

The FIRE community is notorious for chasing early retirement at all costs. Many search for creative ways to earn more money and spend less of it, only to end up hating the journey. If you’ve ever felt burnt out or discouraged on the road to FIRE, you’re in for a real treat with today’s episode! Welcome back to the BiggerPockets Money podcast! Today, we’re joined by Mark Trautman from Mark’s Money Mind. Early on, Mark decided that he was going to live life on his own terms. So, he and his wife worked their way out of debt and adopted the motto, “Make some, save and invest, and live on the rest.” After maximizing their 401(k) contributions, investing their money in other retirement accounts, and diligently saving each month, Mark and his wife were able to retire by the time he reached age fifty. We wish Mark’s story ended there. A few years later, however, his life was turned upside down after the death of his wife. While grieving the loss, Mark needed to adjust how he used his nest egg going forward. By implem

Travel hacking allows you to see the world for less than you spend at home. That’s right. If you took your rent or mortgage payment in the US and traded it for traveling abroad, you could live off far less money and do far more than you do back in the States. But you’ll need to know how to work the system before you take off on your flight, or else you might come home happy and full but broke. Matthew Kepnes, better known online as Nomadic Matt, made travel his full-time job, documenting how much he spent, saved, and enjoyed along the way. Matt has spent more time outside the US than most Americans will in their lives—and he has some secrets to share. Matt goes over EXACTLY how to start travel hacking, from credit cards to cheap activities, hostels, hotels, and horror stories you should try to avoid. Matt also shares why so many Americans spend WAY too much money when they’re abroad and what you can do tomake your trip last FAR longer IF you follow a few essential tips. So, if you want to finally take the yea

Financial advisors are supposed to look after your money, but sometimes, their profits come first. We’ve had many questions about which type of financial advisors to use, which aren’t worth the fee, and whether you even need one in the first place. On this Finance Friday episode, Mindy and Scott are taking questions directly from listeners like you, and one of the top ones finally answers the question: what are these “fees” financial advisors are charging me!? You’ve got money questions. Scott and Mindy have answers. In this episode, they’ll touch on topics like which type of financial advisor to hire, whether cashing out your 401(k) early is ever worth it, what to do when your bank messed up your interest rate, when (and when not) to use LLCs for real estate investing, and how to start investing in stocks when you’ve only got $1,000!  Got a money question you want to ask Mindy and Scott? Head over to the BiggerPockets Money Facebook group, or click here to submit your question on our next Q&A episode! In Th

A “wife-FI,” semi-retired finance blogger? It sounds like an exciting life, but what does it entail? Today’s guest didn’t arrive here overnight and doesn’t recommend it for everyone. What he does recommend, however, is identifying the type of financial independence you want and then working hard to achieve it! Welcome back to the BiggerPockets Money podcast! Today, we’re chatting with J Money, one of the pioneering finance bloggers who started his journey toward financial freedom back in 2007. After catching the personal finance bug, J decided to document his progress on his blog Budgets Are Sexy. After selling the blog to The Motley Fool and buying it back a few years later, J now blogs for fun, spends time with his three kids, and otherwise goes with the flow. In this episode, J shares about the “wife-FI” lifestyle and how he invests his money for the long haul. He also opens up about his recent autoimmune disease diagnosis and how it affects his family’s finances today. As always, Scott and Mindy are here

Knowing how to budget is one thing. Knowing how to budget for a pricey pregnancy and future family is another. So, how do you smoothly go from a couple used to saving thousands of dollars every month to a family with a slew of new costs added to the budget? First, let’s look at what you’re making, what you’re keeping, and what you MUST have on hand to safely raise a family.  We’ll be doing precisely that with today’s guest John. John and his wife make a sizable income and keep a strict budget with modest expenses. They’re saving a serious amount of money every month, but there’s one massive expense that’s about to be added to their budget. John and his wife have to go the surrogacy route for their first two children, and the price tag isn’t cheap. With a six-figure cost PER successful surrogacy, John wants to know how to balance his budget with his high student loans about to kick back in. He also wants to invest but knows that could put his surrogacy savings at risk. Even if you’re not going the surrogacy ro