Biggerpockets Money Podcast

Are we headed right for a recession, or are stocks on sale? We don’t own a crystal ball, but Ricky Mulvey from The Motley Fool is capitalizing on the recent stock market swing by loading up on some of his favorite equities. Stay tuned to find out if now is an ideal time for YOU to “stock up,” too! Welcome back to the BiggerPockets Money podcast! In light of the recent market pullback, Ricky is going to share why he thinks it’s the right time to take advantage of low stock prices. He’ll discuss some of his best bargain buys, his biggest portfolio wins and losses in recent years, and, most importantly, the four-step approach you can use to identify stocks that could be set to soar in 2025. If you’re a regular listener, you know that Scott and Mindy are partial to stashing their money in index funds, sitting back, and watching their wealth snowball over the long haul. You might say that Ricky has a slightly larger appetite for risk, as he isn’t opposed to picking stocks, timing the market, and getting out after

Is the 4% rule dead? Most FIRE-chasers are using this retirement rule completely wrong, and it could cost them their financial freedom. With stock prices falling and many Americans fearing another recession, now is the time to tighten up your retirement portfolio and ensure you can survive if stock prices correct or crash. If you get this wrong, you could delay your FIRE for years or have to go back to work mid-retirement. The 4% rule is one of the most bulletproof retirement formulas. It’s simple: Build a portfolio from which you can comfortably withdraw 4% annually. Need $40,000 per year to live? Your FIRE number is $1,000,000. Need $100,000 per year? Then you’re looking at $2,500,000. This math has been checked, double-checked, and triple-checked to withstand even the greatest economic depressions. However, most people have their portfolio set up WRONG, and it could put them at significant risk. So, how do you ENSURE you can retire (early) with the 4% rule? What hedges should you make in your portfolio so

Think you’ve blown your chances of achieving FIRE? You haven’t! Just ask Nik Johnson, who spent years growing his nest egg, only to have it completely wiped out with one bad financial decision. Despite losing everything, he managed to rebuild it from ground zero and still retire early! Welcome to another episode of “Life After FIRE”! Nik and his wife had done everything right. They practiced frugality, saved aggressively, and invested at every opportunity. But everything was turned on its head when Nik decided to empty his retirement accounts and open a car dealership. Within just one year, Nik’s company had gone belly up, and as a result, all the money he had worked so hard to save was gone. It seemed that he had missed his one shot at early retirement, but rather than giving up on that dream, he started over. If he could do it once, he could do it again! So, Nik found a W2 job, picked up a second job to fast-track his savings, and started throwing all his money at retirement accounts and real estate investm

You’ve worked so hard to finally achieve FIRE (financial independence, retire early); the last thing you want is your wealth to dwindle or disappear entirely. Unknown to most FIRE-chasers, four financial “horsemen” (of the personal finance apocalypse) could steal your wealth right out from under you, without you even realizing it. What are the four horsemen, and how are we protecting our FIRE portfolios from them? To make sure you not only become wealthy but stay wealthy, we brought Whitney Elkins-Hutten, author of Money for Tomorrow, on the show to share the best ways to keep your portfolio safe from the four horsemen. Whitney scaled her portfolio from almost nothing to life-changing wealth, and she could have lost it all if she hadn’t learned how to protect it. Mindy and Scott tag-team to show YOU how to protect your FIRE from these four horsemen, including sharing what they’re doing right now to set themselves up for a successful (and safe) financial future. Don’t let your wealth get drained before OR duri

Is your FI number TOO high? Whether you are ultra-conservative with your finances or want a lavish retirement lifestyle, setting a high bar could make your financial independence journey much harder…but not impossible. Today, we’ll provide a roadmap for building massive wealth! Welcome back to the BiggerPockets Money podcast! With a six-figure income and a six-figure net worth at just 25 years old, Austin Crofoot should have no problem reaching financial independence by age 50, right? The only issue is that his FI number of $5,000,000 is much higher than most. As you’re about to hear, he’ll need to make several “bets” over the next few years, cross his fingers, and hope that at least one of them pays off in a huge way. Like many in the FIRE community, Austin also wants to avoid the middle-class trap. Scott and Mindy will show him how to balance his retirement accounts with a mix of cash, brokerage accounts, and real estate investments—giving him the financial flexibility to pursue entrepreneurial ventures a

The “death march to FI” isn’t for everyone. If you’re tired of climbing the corporate ladder or lacking a sense of purpose at your W2 job, it’s not too late to escape the rat race and design the life you want, just like the “Financial Tortoise,” Tae Kim, did! In this episode of “Life After FIRE,” Tae returns to the show to discuss his move from the corporate world to a job that gives him the freedom and flexibility to travel, spend more time with his family, and actually enjoy the journey to FIRE. For years, Tae was dead set on achieving his goal of becoming a chief financial officer (CFO), but as he approached the summit, he realized just how much freedom and control he was giving up. So, he started implementing a plan to quit and pursue entrepreneurship instead! In four years, Tae went from making $0 on YouTube to over $250,000 per year. Today, he and his wife are comfortably coast FI, traveling the world, creating personal finance content, and continuing to save for retirement where they can. Stay tuned as

How do the top 1% of Americans invest their money, and how do your investments compare? We’re breaking down the data, showing what the wealthiest Americans are invested in and how to copy their 1% portfolio so you can invest like the ultra-wealthy. To be in the top 1% of Americans, you must have at least eight figures. And while that’s a Fat FIRE number, most of us don’t need tens of millions to retire early. But copying some of the tactics of the top 1% could get you there faster. One thing slingshots average Americans to the top 1%, and even the top 0.1%, but you don’t have to bank on this huge bet to get there. Surprisingly, the top 1% invests in assets that YOU already have access to, not elite-only investment opportunities or massive business deals. They’re invested in FAR more passive assets than you’d think, so you don’t HAVE to build a real estate portfolio to get there. What gives you the best chance of hitting the top 1% in wealth? Maybe you don’t want to go that far—how do you get to the top 10%? S

If there’s an issue that keeps aspiring early retirees up at night, it’s the dreaded middle-class trap. At just 28 years old, this financially savvy couple is already looking for ways to avoid this issue. Whether you’re just starting your FIRE journey or approaching early retirement, we’ll show you how to do the same in today’s episode! Welcome back to the BiggerPockets Money podcast! So far, Leah and Zach Landis are doing everything right. They earn high incomes, they spend very little, and they invest the difference. Well on their way to retiring early, they plan to quit their jobs by age 45 or sooner! But will their current asset allocation get in the way of their big goal? What kind of bridge will they need to tide them over until traditional retirement age? Will having children impact their financial freedom? Fortunately, Leah and Zach have all kinds of options. Tune in as Scott and Mindy dive into the couple’s budget and discuss their best path forward. Along the way, we’ll debate whether they should pa

The wealthy are using one unique retirement account to build their fortunes tax-free. You may have never heard of it, but knowing about it can change the course of your retirement planning, allowing you to invest in much more than stocks, index funds, and bonds in your retirement accounts.  We’re talking about making passive real estate income tax-deferred, flipping houses and sheltering the profits for when you retire, or having a rental property portfolio producing massive passive income, all with the tax benefits of your 401(k), IRA, or Roth IRA.  We’re, of course, talking about the self-directed IRA (SDIRA) and the sizable benefits that come with it.  To help, John Bowens (Certified IRA Services Professional) from Equity Trust is on the show to share the tax advantages most Americans have zero clue about. Scott starts the interview by coming in hot, throwing out his most significant objections to an SDIRA. We were even surprised by just how many benefits this single account has and how you can use it in w

How has Scott achieved so much financial success already in his early 30s? He’s got a secret weapon nobody else has: Virginia Trench! That’s right, the woman behind half of the puns you hear on this podcast is coming on the show! She's sharing her view on Scott’s early (and extreme) frugality, massively successful financial planning dates, goal setting as a couple, prenuptial agreements, and the Trenches’ recent decision to sell a solid chunk of their index fund portfolio.  Virginia met Scott before he was CEO, before he had a sizable rental portfolio, and before he became one of the internet’s favorite money nerds. Together, they’ve worked hand-in-hand, building a FI lifestyle that fits their family while chasing their own individual dreams, including Virginia becoming a published author with her new book, Our Secrets Were Safe, coming out this summer! In this episode, we peel back the curtain and get a glimpse into how Scott and Virginia run the Trench household and its finances. What’s the one thing they h

Teachers aren’t known for their high salaries, so how did this one reach early retirement and FIRE at just 45 years old? Through “aggressive” saving and smart cost-of-living choices, Amy Minkley was able to quit her demanding international teaching job only three years after finding out about the FIRE movement. Now, she spends her days living in paradise and hosting “FI Freedom Retreats” once or twice a year for like-minded FIRE-chasers. To reach FIRE in your 40s, you must make some strategic moves like Amy. Thankfully, you don’t need to make six figures to retire early in 2025. Throughout Amy’s career, she never entered the “high income” threshold but could still save aggressively, thanks to the perks of teaching at international schools. We’re talking free rent, subsidized travel, and plenty of paid vacation. But it wasn’t always the dream life that it sounds like. Amy had constant stress and was routinely feeling burned out, forcing her to take multiple sabbaticals, change where she lived, and deal with so

Is something stopping your FIRE? Today’s guest wants to retire early at 35, but with a shaky budget, extra expenses, and a problematic rental property, her path to early retirement isn’t clear. In today’s episode, we’ll break down her finances and help her get back on track! Welcome back to the BiggerPockets Money podcast! Sarah earns a great salary and diligently saves for retirement each month. You’d think she’s on pace to leave her W2 job in a few years, but there’s one problem—she has more expenses than the average person. Financially responsible for two extra family members, Sarah pays for their mortgage, food, and lifestyle, all while covering her own expenses! Does Sarah’s financial situation need a major shake-up? Tune in as Scott and Mindy debate whether it’s time for Sarah to part with a property that’s bleeding money, strategize about when to put it on the market, and discuss what to do with the money from the sale. We’ll also touch on the tough conversations Sarah needs to have with family members

2024 may be long gone, but it’s NOT too late to lower your taxes for the previous year. If you have real estate or retirement accounts, you already hold the key to minimizing your taxable income and owing less to Uncle Sam. But how do you do it? We’re sharing 2024 and 2025 top tax reduction strategies in today’s show with expert CPA and real estate investor Amanda Han! Do you know about the real estate tax “loophole” that helps everyday investors cut their taxable income by tens of thousands? Got an employer-contributed retirement plan? You could STILL use it to lower your 2024 taxes! And why should you NOT take the standard deduction if you’ve bought a home in the past few years? We’re answering all of these questions so you can keep more of your hard-earned money. Finally, what audit red flags is Amanda seeing with her clients? There’s one easily avoidable audit trap that MANY Americans are falling into that could take just minutes to circumvent. Should we even be talking about income taxes if President Tru

Is a 100% index fund portfolio no longer the FIRE formula? The market has changed, and maybe your portfolio allocation needs to change with it. With index funds at all-time-high prices and price-to-earnings ratios at an eye-watering 29, you might be feeling a bit worried about whether your FIRE will last or you’ll even make it to FIRE in the first place. You’re not crazy; Scott is feeling the same way, too. Recently, Scott decided to make a move much of the FIRE community would protest—he sold 40% of his index fund portfolio to reallocate to real estate. Why did he do it now, even as a strong index fund believer? On the other hand, why is Mindy sticking with her stock and index fund portfolio, ready to ride out whatever potential market downturn could be coming our way? Scott explains, in detail, why real estate is a better choice for him at the moment, the reason prudent FIRE chasers should question the conventional wisdom of a 100% index fund portfolio, and why his new rental property could act as a hedge a

Travel hacking allows you to fly and travel for free, often in luxury, without spending tens of thousands of dollars on flights or hotels. So, how do you do it without managing thirty different credit cards in your wallet? Brian Kelly, AKA The Points Guy, world-renowned travel hacking expert and author of the new book How to Win at Travel, is here to show you as we rapid-fire our top credit card rewards questions at him. In this show, you’ll learn how to fly to Europe, Asia, and beyond for FREE, even in business class, all by spending the same amount of money you typically would every month. These cards can turn your weekly grocery run into free flights, hotel stays, cashback, and more, plus give you huge perks like airport lounge access, travel protection, and even a credit to spend on your next trip. Love free money? This is how you get it. Plus, we’re asking The Points Guy what cards he has in HIS wallet, what he spends on which card, and why he does NOT recommend staying loyal to a specific airline, even

Does the four-percent rule actually work? On paper, yes. So why don’t more people put it to the test? Today’s guest retired at forty-seven years old and is living proof that the math really does check out. Stay tuned to find out how! Welcome back to the BiggerPockets Money podcast! Bobby Beck has done what so many in the FIRE community are seemingly unable to do—he actually retired on the four-percent rule! What’s more? He did it while living in the Bay Area, one of the most expensive markets in the US. What gave him the confidence to leave his job and never look back? While “One More Year Syndrome” keeps many people from retiring early, Bobby’s mantra of “take a year” compelled him to take a leap of faith. Even though his retirement portfolio took a sixteen-percent hit right before he retired, he weathered the storm, and sure enough, the market rebounded! Now, Bobby lives the life people dream of when they discover FIRE. He has a comfy lifestyle, travels multiple times a year, and only checks his portfolio o

Do we focus too much on just one type of wealth? What if the key to a happy life isn’t retiring early, ascending the corporate ladder, or having more money than you know what to do with? Serial entrepreneur Sahil Bloom spent years chasing money, only to find that it didn’t provide happiness—it robbed him of it. Find yourself in the same boat? This episode is for you! Welcome back to the BiggerPockets Money podcast! Today, Sahil joins the show to discuss the core concepts from his latest book, The 5 Types of Wealth. Many FIRE-focused folks believe that financial wealth unlocks time, social, mental, and physical wealth, but Sahil is living proof that this isn’t the case. In this episode, he shares about his own journey from financial illiteracy to financial independence, the different levers he pulled along the way, and how he was able to dig himself out of a rut that was slowly destroying his life. Whether you’re stuck on the happiness hamster wheel, burned out at your nine-to-five job, or lacking in any area

How can you use your retirement accounts to reach FIRE faster? We’ve talked a lot about the “middle-class trap”—having too much of your net worth trapped in your retirement accounts and home equity—and we may have the secret weapon to help you escape it. Not only that, this strategy allows you to keep more of what you earn, take control of your investments, and build a (relatively) passive real estate portfolio while you get closer and closer to FIRE. Of course, we’re talking about self-directed IRAs and Kaaren Hall’s new book, Self-Directed IRA Investing: A BiggerPockets Guide (use code “SDIRA10” for 10% off)!  Never heard of them? Self-directed IRAs (SDIRAs) are retirement accounts that give you more control over what you invest in. So, instead of just stocks and bonds, you can use your retirement funds to buy rental properties, become a passive private money lender, and invest in real estate syndications. These investments can often get higher returns than stock market averages, helping you reach your reti

Buying a house, maxing out your 401(k), and leveraging real estate can help you achieve financial independence. But suppose your goal is to retire early. Could relying too heavily on these principles actually delay early retirement? Today, we’re going to show you how to break free from the “middle-class trap” that stops so many from retiring early!  Welcome back to the BiggerPockets Money podcast! Is most of your net worth “stuck” in home equity and retirement accounts? This is a widespread issue in the FIRE community. On one hand, you could sell your home or refinance your mortgage to tap into your equity, but interest rates are too high! Meanwhile, you can’t withdraw money from your 401(k)—not without incurring severe penalties. In theory, you could already be a millionaire but have little to no cash flow to fuel your retirement. So, what should you do? In this episode, you’re going to learn all about the middle-class trap, how to avoid it, and, if you’re in it, how to get out! Mindy and Scott will share th

Why do so many in early retirement struggle with happiness? We know you’ve told yourself, “Once I hit FIRE, I’ll be living the dream! Every day will be like a vacation.” This is what Mindy was telling herself for years before becoming financially independent, and once she hit her goal, she realized life’s same problems still exist. If you’re FI already, this may sound familiar. So, how do you enjoy the path to early retirement so that when you reach your financial goal, the party doesn’t stop? Jordan Grumet, AKA Doc G, practiced full-time medicine for years but wasn’t completely satisfied, even with financial success. After reflecting on his “purpose,” he found that hospice medicine brought him true fulfillment. Through conversations with patients on their deathbeds, Jordan uncovered a common thread: most regrets stemmed from not living a purposeful life, regardless of financial achievement. In his new book, The Purpose Code, Jordan walks you through exercises that uncover your view on purpose, success, finan