When people hear the term “passive income,” their minds usually flash to real estate investing. But, taking on real estate debt may not be the best option for you—especially if you have a high-risk financial portfolio. Instead, you might be better off starting a side hustle that brings in extra dough without huge startup costs or a massive time commitment! Kayla is a healthcare sales professional who has just bought her first property—a beautiful townhouse that she plans to house hack with a cou...
Nov 03, 2023•48 min•Ep. 465
HGTV’s Heather and Tarek El Moussa have built an empire that any entrepreneur would be jealous of. They’ve collectively flipped over a thousand homes, started syndications with tens of millions of dollars invested, have a TV show that rakes in money for them to flip more houses, AND they do it all while raising a family. And while they’ve created the life they’ve always dreamed of, some unintended side effects have recently emerged that make things less-than-glamorous. We’ll touch on the recent ...
Nov 01, 2023•42 min•Ep. 464
Teaching your kids about money is one of the most CRUCIAL parts of parenting. So why do so many Americans completely neglect financial literacy for kids? Is it too awkward of a subject? Do parents feel like they don’t even grasp personal finances themselves? What happens if YOUR kid goes into the world with zero money mastery? If you have children, grandchildren, nieces, nephews, or loved ones with kids, THIS is what you MUST teach them. Instead of Mindy and Scott telling you what they taught th...
Oct 30, 2023•45 min•Ep. 463
Want to reach FIRE long before you’re sixty-five? If you make a decent income, invest diligently, and watch your spending, you STILL could fall into the “trap” most FIRE-chasers find themselves in. By making one BIG mistake, you could be accidentally forcing yourself to work for years or decades longer to finally retire, even if you’ve reached your FIRE number! What “trap” are we referring to, and how do you ensure you’ll hit FIRE on your schedule? Stick around to find out! Today, we talk to Chr...
Oct 27, 2023•1 hr 3 min•Ep. 462
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 t...
Oct 23, 2023•43 min•Ep. 461
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 taki...
Oct 20, 2023•38 min•Ep. 460
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 suspe...
Oct 16, 2023•48 min•Ep. 459
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 t...
Oct 13, 2023•46 min•Ep. 458
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 i...
Oct 09, 2023•43 min•Ep. 457
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 te...
Oct 06, 2023•58 min•Ep. 456
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 pro...
Oct 02, 2023•52 min•Ep. 455
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 l...
Sep 29, 2023•59 min•Ep. 454
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...
Sep 25, 2023•1 hr 5 min•Ep. 453
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 retiremen...
Sep 22, 2023•44 min•Ep. 452
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 We...
Sep 18, 2023•52 min•Ep. 451
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 ...
Sep 15, 2023•55 min•Ep. 450
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...
Sep 11, 2023•50 min•Ep. 449
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 ...
Sep 08, 2023•59 min•Ep. 448
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, Fa...
Sep 04, 2023•48 min•Ep. 447
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 wo...
Sep 01, 2023•1 hr 3 min•Ep. 446
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 muc...
Aug 28, 2023•45 min•Ep. 445
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 a...
Aug 25, 2023•37 min•Ep. 444
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. A...
Aug 21, 2023•50 min•Ep. 443
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 wit...
Aug 18, 2023•40 min•Ep. 442
Foreclosure can be a sensitive topic. After the embarrassment of falling behind on payments, there’s the fear of losing your home and having no place to live. Rather than preying on someone who feels helpless, there are ways for investors to profit while also helping the distressed seller. In this episode, we’re chatting with guest and long-time friend Laura Morby. As the daughter of a general contractorand a licensed agent by twenty-two years old, Laura was destined for a long career in real es...
Aug 14, 2023•51 min•Ep. 441
As an investor, it’s easy to become fixated on cash flow, much like today’s guest at the start of his real estate journey. After realizing he was “house poor” with a mortgage payment larger than he could afford, Eric Garber stumbled upon house hacking. He rented out his basement and used the extra money to pay off his house early. With proof of concept for his newfound house hacking strategy and income from a stable W2 job, everything was going great. Then Eric’s world came crashing down when hi...
Aug 11, 2023•47 min•Ep. 440
What should you do if you suspect financial infidelity from a partner? Money is a taboo subject in many marriages, and it doesn’t help that some spouses take a hands-off approach to personal finance. As you might imagine, this can quickly lead to one partner taking advantage of the other. Today’s guest is helping people save their nest eggs by uncovering and proving financial infidelity. Welcome back to another episode of the BiggerPockets Money podcast! Today, we’re joined by Tracy Coenen, a ve...
Aug 07, 2023•47 min•Ep. 439
Only have $100 – $5,000 but want to know how to invest it wisely? No amount is too small to start building smart money habits today. While some asset classes may not be viable for you just yet, there are still all kinds of ways to invest with a modest amount of money. Making the most of what you have now can set you up for a bright financial future. In this episode of the BiggerPockets Money podcast, Scott and Mindy have brought in reinforcements to discuss the best ways for beginners to invest ...
Aug 04, 2023•43 min•Ep. 438
Wedding costs have been slowly growing over the past few decades. But recently, after a wild 2020, 2021, and 2022 wedding season, the average wedding cost has hit heights that most Americans simply can’t afford. But what can you do? Cancel your wedding and go straight to the courthouse? While this isn’t a bad option for some, most couples tying the knot want something their friends and family will remember for years. So, here’s how to do it on a budget! We brought expert event planner and fundra...
Aug 02, 2023•47 min•Ep. 437
“Get rich slowly” is a concept that most people in the FIRE community can get behind. “Time off,” on the other hand, seems to go against the idea of grinding to financial independence now and waiting until later in life to enjoy the spoils. Today’s guest is bucking this trend—using his financial freedom to support a “retired” lifestyle that includes traveling the world, discovering new hobbies, and learning new skills! Welcome back to the BiggerPockets Money podcast! Today, we’re speaking with J...
Jul 31, 2023•54 min•Ep. 436
