We’ve said it before and we’ll say it again: it’s never too early to start your journey to financial independence . Today we talk to Mackenzie , a 23-year-old college graduate, working a government job and paying for only minor expenses. She has a serious emergency fund she’s managed to save up and has questions on house hacking , setting up retirement accounts, and the fastest way to get to FI . When you start your financial journey at such a young age, you have many different opportunities. Ev...
Jun 25, 2021•1 hr 9 min•Ep. 208
Part of the reason we started the BiggerPockets Money Show was to share financial stories from all different backgrounds, giving you, the listener, confidence to reach your financial goals regardless of the stage you’re at in life. There’s no better story or person to personify this than Dr. Lakisha Simmons . Lakisha grew up in Indianapolis, born to teenage parents who didn’t have much. She spent the majority of her youth living at different family members’ houses, shopping bargains, and being c...
Jun 21, 2021•1 hr 7 min•Ep. 207
For most people, there tends to be a specific point in your life when you think, “I want to travel” or “I want to spend time pursuing my passions”. For today’s guest Ainsley, this happened about two years ago. She has spent the last decade or so being a stay-at-home mom, but is looking to up her household income by getting a job that will provide an extra $36,000 a year to the family budget. Her main question: what should this extra income be used for? Mindy and Scott come up with a step-by-step...
Jun 18, 2021•1 hr 24 min•Ep. 206
There are lots of twists and turns throughout every investor's journey, but maybe not as many as Zeona McIntyre ’s. Growing up with the words of Suze Orman in her ear, Zeona knew that there were a few things she had to do, like max out her Roth IRA every year. It wasn’t until Zeona was talking to a friend who told her about Airbnb arbitrage that she realized a future in real estate investing may be the most successful. Before there were many short-term rental laws, people would Airbnb out of the...
Jun 14, 2021•1 hr 18 min•Ep. 205
We all know someone who hustles. Maybe it’s your sibling or your friend, or maybe you’re the hustler in your group . Those who hustle to make more money seem to always find new ways to bring in more cash, and that’s exactly what today’s guest, Alicia , is doing. Alicia jokes that she has 2-4 jobs , because in the day she’s working 65 hours a week at a media company , but is also a “saloon girl” and professional singer on the side. How many moms do you know that can ride a mechanical bull? Well, ...
Jun 11, 2021•1 hr 11 min•Ep. 204
What’s your excuse for not hitting financial freedom ? Maybe you work at a low paying job, maybe you only have one income for your household, or maybe you’re caring for a few kids, limiting the income you can save and invest. Prepare to have your excuses obliterated, because today we’re talking to Rob and Sam , who raised their 14 children on one income alone . And we aren’t talking about a $500k per year income, we’re talking about a median income! Rob and Sam always wanted a big family , and l...
Jun 07, 2021•1 hr 20 min•Ep. 203
Most 21-year-olds aren’t thinking about Roth IRAs, early retirement, house hacking, or graduating college debt-free. But today’s guest, Anthony, is! Anthony is currently a student in community college, preparing to transfer to a four-year college next year. He has a paid-off car, no credit card debt, and makes around $2,000 a month, with $800 or so as extra income each month. Anthony is wondering where the best place to put his extra income is. Should he invest in his Roth or should he save up m...
Jun 04, 2021•57 min•Ep. 202
How do you think about debt? Most of us would shudder to think of having high-interest consumer debt in our lives, and for good reason. Consumer debt can lead to a detrimental financial future and tons of wasted money on interest. But what about good debt ? Debt to buy rental properties or help an aspiring business . How do you feel about that debt? Today we’re joined by FI chaser, and friend of Mindy, Jake Simon . Jake was raised in a frugal household. He learned to spend less than he made, sho...
May 31, 2021•1 hr 11 min•Ep. 201
We love when guests come back on the show, especially when that guest is Kyle Mast . You may have heard him back on episodes 41 & 84 , but now he’s here to celebrate our 200th episode with us! Scott and Mindy have come up with their own questions to ask Kyle ranging from retirement accounts , to asset allocation, to the future of cryptocurrency , and more. If you’re worried about retirement, Kyle has you covered. We go over some great topics like whether you should choose a traditional 401(k...
May 28, 2021•1 hr 26 min•Ep. 200
The average American takes a long time to pay off debt, especially student loan debt . These amounts can vary, some people have a few thousand in student loan debt, others have tens of thousands, but what about $521,741 in student debt ? Would you be able to pay off over half a million dollars in student loans, all while trying to buy a house and regularly invest ? This is exactly what Ty from Debt Ascent did, and he did it quite successfully. Ty is an engineer and his wife is a dentist, so they...
May 24, 2021•1 hr 4 min•Ep. 199
Many of you know that Mindy loves live-in-flips, and although she can definitely swing a hammer, she doesn’t have the skills of a finish carpenter, but today’s guests, Serafina & Darrin , do! Serafina and Darrin were both working at non-profits , but over the last year have transitioned to running their own business named Carlucci Woodworking . Serafina takes care of the bookkeeping while Darrin takes care of the carpentry. They’re a dynamic duo! All this is happening while they are trying t...
May 21, 2021•1 hr 12 min•Ep. 198
There are a lot of excuses we hear from people as to why they can’t reach financial independence . They needed that new car, they needed that nicer apartment, they needed the expensive vacations. Often, this is what we hear from people making a high income, unlike today’s guest, non-profit worker Nate Forbes . Nate knew that he liked working jobs that tended to pay less , and with the support of his wife, he stayed at them. When his wife was ready to be a stay-at-home mom, Nate took a job with m...
May 17, 2021•1 hr 11 min•Ep. 197
Getting out of debt can be very empowering, which is exactly how Azar and Jeffrey felt when they paid off $83,000 of debt in under 3 years ! They thought it may be the best time to start investing in real estate, but with a surprise baby on the way , they need to be sure they’re prioritizing stability over growth. Since they’re in such a great position, they should be able to do both! Azar works as a school nurse bringing in a respectable salary, while Jeffrey gets disability payments. Both have...
May 14, 2021•1 hr 29 min•Ep. 196
Student loans can often drag people into debt , especially when chasing more than one degree. But here’s an unusual story: Brenda Olmost , PhD student, nurse practitioner, and member of the FIRE community is graduating with NO debt . Amazing right? Brenda has worked her tail off over the past decade getting scholarships, living below her means , and working whenever she can so she graduates her program with no debt. Not only has Brenda done a fantastic job making extra income, she’s been investi...
May 10, 2021•58 min•Ep. 195
It’s a common concern among many Americans on whether or not they can retire on a timeline they feel comfortable with. In this episode, we talk to Deb, who’s having some of those same concerns. She has over $100,000 in assets (not including the house) and wants to be sure that she can provide a great life for her children all while saving more and more for retirement . Deb has read so many money and financial independence forums about mid twenty year olds with six-figure incomes and five-figure ...
May 07, 2021•1 hr 17 min•Ep. 194
Part of the mission of the BiggerPockets Money Show is to share journeys from all walks of life. Our guests show that no matter where you’re at, you can reach financial freedom and enjoy your life on your terms. Today’s guest, T Christopher Colton , is a shining example of pulling yourself out of the depths and into the light. Chris never liked school, and was spanked all throughout elementary and middle school for failing to pay attention in class. He was told he needed to go to college , but d...
May 03, 2021•1 hr 28 min•Ep. 193
In many of our lives, we make a decent salary, we try to save and invest, but we still feel bogged down by debt. How is it possible to feel “broke” while making a great salary? That is the question that Tiara, today’s guest, is asking. Tiara works as a park ranger in Texas, but wants to take a break in the next few years to go on a big travelling holiday. This is a great idea! She’s worked very hard, managed to get some assets under her name, and needs a break. But before she can go out and expl...
Apr 30, 2021•1 hr 6 min•Ep. 192
Many of us have had the benefit of growing up in households where our parents taught us about money, saving, and investing . Angela Rozmyn was raised in one of these households, and when she wanted something like a bunk bed, her parents got her to work so she could split the cost of it. Clearly this has helped her even to this day as she pursues financial independence and runs the Facebook Group “ Women’s Personal Finance (Women On Fire) ”. Before she was on her financially independent journey, ...
Apr 26, 2021•1 hr•Ep. 191
Side businesses can be a fantastic way to boost your savings and investing rates, especially if you’re making a low salary! Rachael works in the insurance industry and is keen on getting a promotion soon, due to her recently acquired license. She loves her work and wants to stay with her company as long as she can, but she also wants to increase her income so she can save more for her retirement, her college funds, and pay off some student debt . Rachael has always been an artist and uses this t...
Apr 23, 2021•1 hr 1 min•Ep. 190
Getting a finance degree doesn’t make you a great investor or saver, that’s what Teri Slater , personal finance coach found to be true after completing her degree. From a relatively early stage, Teri had already racked up student loan debt, a car loan, and credit card debt. She pulled herself out of debt and felt accomplished, but after she got married and bought her first house, she found herself back in debt. About $200k in debt! Teri and her (then) husband had high incomes, a nice home, child...
Apr 19, 2021•1 hr 5 min•Ep. 189
Being strapped with student debt isn’t easy. It creates a whole new obstacle to hitting financial freedom , but it can be mitigated. So does it make sense to invest on the side and pay the regular monthly payments on student debt, or go all-in and pay off huge chunks of student debt at once? Today’s guest, Robyn, has this exact question (which many of you may have as well). Robyn lives in the Bay Area, one of the most notoriously expensive housing markets on the planet. That being said, she is p...
Apr 16, 2021•58 min•Ep. 188
Tiffany Aliche is back for her third appearance on the BiggerPockets Money Show! We’ve talked to her about how to teach your children about money and climbing out from financial rock bottom , now we talk to her about making millions! If you haven’t heard from Tiffany before, we’ll catch you up on her backstory. Tiffany was doing well with money up until her mid-twenties, then she hit a few snags, and even got scammed out of $35,000 from who she calls “Jack the Thief”. She was living with her par...
Apr 12, 2021•1 hr 28 min•Ep. 187
Today we talk to Sammie , a physician assistant out of the San Francisco Bay Area. Sammie makes a great income, around $140,000 a year , but is strapped with a very big $160,000 student loan debt . The good news? She’s eligible for public service loan forgiveness within only a few years, all she needs to do is continue paying her loan payments while keeping her job, and the debt will be wiped away! This is fantastic for Sammie, because she wants to start investing more into assets so she can hit...
Apr 09, 2021•1 hr 4 min•Ep. 186
Barbara Friedburg wasn’t always the savvy investor and saver that many people know her as, but her background helped get her there. Born to parents of the great depression, Barbara had the traits of frugality and modesty instilled into her from a young age. Money was an open subject of discussion in Barbara’s household, unlike most households today. Her parents taught her to value money, not waste it, and be smart when you spend . Barbara’s innate financial intelligence was clearly shown when sh...
Apr 05, 2021•1 hr 18 min•Ep. 185
Saving up for financial independence can take some time, but if you’re earning a high salary, keeping your ex Saving up for financial independence can take some time, but if you’re earning a high salary, keeping your expenses low, and heavily investing, FI can come quicker than you think. Today, we talk to Kristine , an estimator in the mechanical engineering and plumbing industry. Kristine and her fiancé make a sizable amount of money. Even better, they spend very little for their income bracke...
Apr 02, 2021•47 min•Ep. 184
Those who are part of the FI or FIRE movement know how important it is to set yourself up on the right path in your youth. For parents, how do you get your kids excited about pursuing financial freedom? How do you talk to your kids about taxes, retirement accounts, saving, investing, and real estate without them falling asleep? This was Rob Phelan’s question when he started working to build the Choose FI Foundation . The foundation’s goal is simple: help kids achieve financial literacy before th...
Mar 29, 2021•56 min•Ep. 183
Mindy and Scott don’t often get stumped on the Money Show, but it happens once in a great while. What do you do when you have a multi-million dollar net worth, appreciating properties, a maxed out 401(k), and a solid safety reserve? That’s exactly the question that today’s guest, Mike, has. Mike has worked in the music industry for years, moving all around the US to do his job. As technology has evolved, Mike is predicting an end to his specific role over the next decade, and is wondering what h...
Mar 26, 2021•1 hr 4 min•Ep. 182
You may hear of 20 year olds with $1,000,000 in real estate, or a novice flipper doing 50 flips a year, or even a wholesaler who made six figures on one deal. What about the everyday investor who slowly grinds and acquires a steady stream of passive income all while building hundreds of thousands in equity overtime? Those are the real people in real estate, and that is a success story worth sharing. Julie, software engineer and former BiggerPockets employee bought her first house after realizing...
Mar 22, 2021•1 hr 18 min•Ep. 181
What do you do once you’ve hit millionaire status? You have rental properties, brokerage accounts, and a good amount of cash on hand, so what’s next? This is the question that today’s guest, Brian Blask, has. Brian has done everything right so far: he doesn’t spend frivolously, he invests heavily, he isn’t overleveraged in his rental properties, and he has a high income. Often when you reach such a high point of financial intelligence, you want to make bigger investments for bigger returns. Bria...
Mar 19, 2021•1 hr 13 min•Ep. 180
Being in the military opens you up to an array of benefits for a financially abundant life. You have access to VA loans , a tax-free housing allowance, and a pension (if you stick around long enough). That’s why it’s of the utmost importance to start saving and investing while you’re young and in the military. But, that wasn’t exactly what David Pere ( From Military to Millionaire ) did when he was first enlisted. David grew up with frugal parents , who never splurged on much. So when he joined ...
Mar 15, 2021•1 hr 8 min•Ep. 179
