We know financial freedom is possible for those in their 20s and 30s, just starting their careers, without children and serious financial obligations. But what about those getting started on their journey in their 40s and 50s? What about the stories of those who’ve had lifelong debt, went through a financially destructive divorce, or didn’t know early retirement was an option? Monica Scudieri, author of Grab Your Slice of Financial Independence, wasn’t financially free until recently. For the pa...
Oct 17, 2022•59 min•Ep. 345
Everything you’ve been hearing about social security is a lie. For years, mainstream media and many financial figureheads have said that social security is on a fast track to bankruptcy, with no money left over for Americans when they grow old. But what if we told you that wasn’t true? What if you knew that social security would be there for you when you retire, even if you’ve just started working? Today’s guest, national social security advisor and expert Jeremy Keil, explains the basics of soc...
Oct 14, 2022•58 min•Ep. 344
The 2022 housing market doesn’t make a whole lot of sense. At the start of the year, competition was fierce, with bidding wars on every home and lines out the door just to view an open house. Now, in quarter three of this year, interest rates have hit decade-long highs, buyers are more in control, and days on market are starting to creep back up. As a homeowner, investor, or renter, you need to know what's on the horizon so you can build wealth while others run for the hills. Joining us today ar...
Oct 10, 2022•59 min•Ep. 343
Financial independence isn’t for everyone. That comes as a surprise for most of us within the personal finance community. Whether we like it or not, the “save, invest, and grind” until you can retire early lifestyle isn't a commonly accepted one. But what happens when your partner is the one who doesn’t agree? What steps can you take to help them see why early retirement is such a crucial piece of your life? This is just one of the topics we touch on with today’s guest, Mark. Mark is in a great ...
Oct 07, 2022•57 min•Ep. 342
Katie Gatti Tassin from Money with Katie had her “financial awakening” earlier than most. She saw the middle-class wealth trap of working, spending, and repeating for what it really was. This cash-gobbling cycle is one that many Americans fall into, but once you see the light, it’s hard not to almost automatically do better. And that’s what Katie did, trading twenty-dollar daily lunches and “hot girl expenses” for more saving, investing, and skyrocketing net worth. Through a few short years of s...
Oct 03, 2022•1 hr 4 min•Ep. 341
Over the past two years, short-term rental investing has become a financial lifeline for those that are trying to make extra income. A small one or two-bedroom basement, garage apartment, or mother-in-law suite brings in enough cash flow for many to pay off a sizable amount of their mortgage. One such investor is Allen, who turned his low-interest rate primary residence into a lucrative short-term rental in the Portland, Maine area. Allen is a vacation rental house hacker, leasing his garage apa...
Sep 30, 2022•1 hr 17 min•Ep. 340
Everyone knows that real estate agent commissions are hefty. Those who have sold a house in the past few years may look at their settlement agreement and wonder where those tens of thousands of dollars really went. It’s not hard for a new agent in today’s world to lock in six-figures worth of real estate commissions within their first few years. But, not many agents, even uber-experienced ones, have been able to hit what Pat Hiban has. Pat was one of the first “billion-dollar” real estate agents...
Sep 26, 2022•1 hr 23 min•Ep. 339
Student loan debt—the gift that keeps on giving with interest, stress, and the overwhelming feeling that you won’t be able to pay them off. The larger the loan, the heavier the weight on your shoulders, but in today’s episode, we go over how to start lightening your load. Focusing solely on your debt makes it seem like there's no way out, but financial freedom is always achievable. Today’s guests, James and Bianca, have $278,000 of student debt between them. This debt has followed them for a whi...
Sep 23, 2022•1 hr 5 min•Ep. 338
College isn’t the only option after high school. In fact, it’s not even the best option. Typically, twenty-two-year-olds fresh out of college are launched into the workforce with a lot of debt and little life experience. So how do you enter the workforce debt-free with life experience? Join the military. Today’s guest, David Pere, is a financially free veteran with 100 rental units, all thanks to his time in the military. He enlisted fresh out of high school in 2008. While he did the usual “stup...
Sep 19, 2022•1 hr•Ep. 337
Becoming a millionaire by 30 is almost every 20-or-something-year-old’s dream. But what if you want to go even further? Instead of seven-figure net worth, what about an eight-figure net worth? Would this be enough to make your wildest dreams come true, or is planning for ultra-wealthy status a wasted pursuit, as most people could easily retire earlywith just a few million? The question we’re trying to ask is, how much is enough? It’s not Scott and Mindy asking this question, it’s today’s guest, ...
Sep 16, 2022•59 min•Ep. 336
What do timing the market and a circle have in common? There’s no point, literally and figuratively. Some people would like to have you think they’ve cracked the code and there’s some secret formula. There’s not. They may have been able to “time the market” once or twice, but they probably can’t repeat it multiple times. Being correct for the wrong reasons isn’t repeatable, and with the market being so arbitrary, timing it correctly for the right reasons is unlikely. Despite this, there’s still ...
Sep 12, 2022•48 min•Ep. 335
If someone told you that financial freedom could be achieved by traveling the world, you probably wouldn’t believe them. How can going on a work vacation to Europe make you richer? Surprisingly, doing this can help cut years off your retirement horizon, allowing you to save more, spend less, and invest for your future faster than ever before. Don’t believe it’s possible? Scott and Mindy prove the profits behind doing so in this Finance Friday episode! Today we’re talking to James, who is inches ...
Sep 09, 2022•50 min•Ep. 334
In the early retirement movement, becoming a millionaire is a crucial part of the financial path. While everyone has different spending habits, the first million will allow you to start pivoting so you can make choices for your enjoyment, not just for the sake of money. But when is it too late to start making these moves? Is there a certain point where early retirement, or retirement at all, is off the table? If you think so, listen to today’s episode with Courtney Robinson. Courtney was raised ...
Sep 05, 2022•57 min•Ep. 333
Having shared finances, for most couples, is an automatic thing to do once married or after being together for many years. It seems natural to want to combine income, expenses, and investments all in one big pot. This was the norm for most couples over the past hundred years, but as technology has made individual accounts more defined, some couples are finding freedom in keeping their finances separate from their relationship. We thought we’d put this theory to the test by having Doug Cunnington...
Sep 02, 2022•1 hr 1 min•Ep. 332
How would a six-figure side hustle change your financial picture? Think of the possibilities—being able to travel, becoming debt-free, or even buying your dream home. For most Americans, income is capped at what you make through a salary. There isn’t enough time, creativity, or energy left at the end of the day to make more. But, one specific subset of employees does have an upper hand that most people overlook—teachers. With a sizable summer break, teachers can make more than many others, even ...
Aug 29, 2022•1 hr 5 min•Ep. 331
You’ve heard of money hacks before, but probably not like this. For the teenagers and parents of teenagers listening, this episode will give you everything you need to make yourself, or your child, financially successful, straight out of high school. Most parents think that a strong financial foundation is built through allowances, debit cards, and making their child get an after-school job. While none of that is bad advice, it doesn’t leave the teenager with a sense of financial security or kno...
Aug 26, 2022•49 min•Ep. 330
Wealth-building isn’t a pre-formulated path for most people. For those raised in poverty, the thought of financial stability seems like a far-out dream. Achieving financial independence or early retirement basically becomes an afterthought, or a fantasy only someone else could achieve. Without basic financial literacy and education, you could spend life aimlessly wandering without saving, investing, or thinking about a more promising financial future. But Amanda “She Wolfe of Wall Street” Wolfe ...
Aug 22, 2022•1 hr 10 min•Ep. 329
For average investors, private money lending has been mentally squared away as “something mega-wealthy people do.” Most investors will write off lending money because they think they lack the experience or funds to do a successful deal. But what if we told you private money lending requires less money than you thought, that it’s almost completely passive, and that today’s high-interest-rate environment may be the perfect time to start? Alex Breshears and Beth Johnson are graciously coming in as ...
Aug 19, 2022•2 hr 47 min•Ep. 328
A stock market crash looks like bad news. The world is ending and everything is down. There won’t be any more profits to take…until the stock market gets back on track, which it always does. We’re not kidding—take a look at the past hundred years of total stock market performance and you’ll see something not-so-shocking. The stock market always finds a way to head back up, even after massive crashes like the great depression and great recession. You don't need to trust David and Mindy on this, i...
Aug 15, 2022•53 min•Ep. 327
The path to financial freedom is different for everyone. Some invest in stocks, others flip houses, but one couple breeds rats, trains horses, and buys rentals in cash. Before you get squeamish, this isn’t a show about flipping rats for profit. But, it is a show about horse training, unique investments, and how to ease off the gas when building wealth. Even if you’re far from your FI number, thinking about this concept will help you tremendously once you’ve retired. Alexis and Max have an intere...
Aug 12, 2022•1 hr 7 min•Ep. 326
Buying a business may sound out of your element. Stocks are one thing, and real estate is another, but what about buying businesses? Isn’t business buying something reserved for large companies, wealthy entrepreneurs, or seriously experienced store owners? Funnily enough, the business of buying businesses may be one of the most overlooked, yet most profitable ways to make more money, work less, and retire richer. Don’t believe us? Just listen to Tim Delaney. Tim did not take the standard wealth-...
Aug 08, 2022•1 hr 29 min•Ep. 325
What is a millionaire? By definition, someone who has a million dollars or more in net worth. But what do you think of when we say “millionaire”? Are you picturing sports cars, expensive vacations, big houses? The reality is that most millionaires are people just like you and me, living in regular homes, still attending their jobs, and trying their hardest to budget. Being a millionaire doesn’t mean you’ve “made it,” but it does mean you’re on the fast track to building wealth. Gracie is a milli...
Aug 05, 2022•1 hr 1 min•Ep. 324
Coast FI is an interesting concept. Unfortunately, to much of Mindy’s surprise, “coast FI” doesn’t mean having enough money to live by the coast. But, just like living down by the beach, the coast FI lifestyle is far more enjoyable than most. We constantly hear from online personal finance bloggers about how you need to save as much as you can, eat at home every night, and never take a vacation. While this does allow you to hit financial independence faster, it makes the journey a highly stressf...
Aug 01, 2022•1 hr 7 min•Ep. 323
Rental property cash flow is one of the most important metrics to calculate when analyzing real estate. Your cash flow not only helps you make a little extra money every month but also keeps your property afloat during months of heavy expenses or when large repairs need to take place. If you don’t do the correct cash flow calculations, you could find yourself with a cash-hemorrhaging property. This is why running (and re-running) your “true cash flow” number is so important. It’s also what Pam, ...
Jul 29, 2022•1 hr 10 min•Ep. 322
Living paycheck to paycheck isn’t sustainable. But, if you’re in this position, you already know that. The stress of always worrying about bills, scrounging for money, and never really feeling security can eat away at you. This is how Anthony Michael felt, but surprisingly, he wasn’t making a small amount of money. He and his wife were making six figures, but only saving around $200/month. This was far less than Anthony was comfortable with, so he sat down, crunched the numbers, and started taki...
Jul 25, 2022•1 hr 20 min•Ep. 321
Retirement strategies range from simple index fund investing all the way to full-on real estate development deals. What works for some investors won’t work for others. What’s most important to you is knowing what will or won’t work for your lifestyle. Some workers can easily do a couple of fix and flips on the side to generate income, while you may have a sixty-hour workweek, without a lot of free time to start investing in more intense asset classes. Chris feels just like this. As a working pro...
Jul 22, 2022•1 hr 8 min•Ep. 320
Your financial freedom journey won’t look like anyone else’s. It’s your future, your passion, and your life on the line when trying to hit financial independence. But what are we missing out on during the journey? Are we mindlessly walking towards a “money mirage” where everything in life is perfect and happiness is always abundant, simply because we have more money? Or, is the end of the financial independence journey far less satisfying than it’s hyped up to be? Doc G, from The Earn & Invest p...
Jul 18, 2022•1 hr 2 min•Ep. 319
The “semi-retired” lifestyle seems to go against everything early retirement chasers have been taught. For years, it’s been pushed into our brains that “retirement” is one stark event. You retire once, do what you want for the rest of time, and that’s that. But life doesn’t always go that way. Today’s guest Amanda has spent the past two decades raising children, working, and focusing on getting an advanced degree. Now, with extra money coming in she’s finally in the position to invest. Amanda wa...
Jul 15, 2022•1 hr 1 min•Ep. 318
Early retirement is something people in their forties and fifties do, right? It would seem almost impossible for someone to retire in their mid/late twenties or early thirties without a large inheritance or winning the lottery. Today you’ll meet the woman who did the impossible—Rachel “Money Honey” Richards. Her voice may sound familiar as not so long ago Rachel was a guest on The BiggerPockets Real Estate Podcast where she talked about retiring in just two years thanks to “aggressive” real esta...
Jul 11, 2022•1 hr 5 min•Ep. 317
When building your budget, do you have a line designated for “economic downturn” or “high inflation?” Probably not. Many financial freaks like Carl and Mindy Jensen don’t prepare for economic anomalies like rampant inflation or double-digit stock market losses. And like most Americans, they’re finding it hard to not spend more money every month. Carl and Mindy understand this, but can't seem to rein in their rebellious budget. This month was their most expensive month ever. And even though these...
Jul 08, 2022•41 min•Ep. 316
