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, ...
Aug 15, 2022•50 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 i...
Aug 12, 2022•1 hr 4 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 wealt...
Aug 08, 2022•1 hr 26 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 mi...
Aug 05, 2022•58 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 stres...
Aug 01, 2022•1 hr 4 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 Pa...
Jul 29, 2022•1 hr 7 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 ta...
Jul 25, 2022•1 hr 16 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 pr...
Jul 22, 2022•1 hr 5 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 & I...
Jul 18, 2022•58 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 ...
Jul 15, 2022•58 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 es...
Jul 11, 2022•1 hr 2 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 thou...
Jul 08, 2022•37 min•Ep. 316
Passive income and credit scores . While they don't entirely rely on each other, having good credit does allow you to build passive income streams far faster . Andrew Brazell learned this the hard way, but thankfully profited big time by making some needed changes. Less than a decade or so ago, Andrew was living in a rat-infested apartment , riddled with credit card and student loan debt, spending all of his money every month. He felt financially hopeless until he struck up a conversation with h...
Jul 04, 2022•1 hr 47 min•Ep. 315
Those searching how to retire early usually come away with one conclusion—you have to make much, much more money. Most financial independence pursuers think that a large salary or enormous sum of assets is what will bring them closer to FI. Fortunately for you, that isn’t always the case, and you’ll see exactly why when we talk to today’s Finance Friday guest, Rebecca . Rebecca makes a great salary. Actually, she makes two great salaries, working at her government job during the day and her tech...
Jul 01, 2022•1 hr 17 min•Ep. 314
Early retirement is one of those common personal finance topics that always comes up on the show. It’s arguably the most talked-about subject in our Facebook group and is a common theme among guests on the show. But what does a time-tested, well-respected financial journalist and coach think about retiring early? What does the “perfect” early retirement plan look like if you’re starting from scratch? Today we’re joined by Ask The Money Coach ’s Lynnette Khalfani-Cox , who is used to getting pers...
Jun 27, 2022•54 min•Ep. 313
“Buy now, pay later” companies have been around for decades, but not in the form they take today. You may have noticed that when you check out from an online store, a little prompt asks you if you want to purchase your goods for just “four easy payments of…” It seems like a good deal, doesn’t it? You can buy the same goods, for less, today, with no interest payments! Before you add those shoes to your cart, think twice before selecting the “buy now, pay later” option. Alexi Horowitz-Ghazi , NPR ...
Jun 24, 2022•50 min•Ep. 312
What's stopping you from becoming debt-free ? Everyone’s answers will vary, but one truth remains the same—excessive debt can prevent you from living the life you deserve. Today’s guest, Joe Bussey , took control of his life once he decided to pay off his $220,000 worth of debt and build a “financial runway” he could rely on. Joe's debt accumulated as he did what everyone in his life told him to. He was in pursuit of a college education when his life took a series of unexpected and unfortunate t...
Jun 20, 2022•1 hr 26 min•Ep. 311
Retirement investing is a crucial part of planning for financial freedom . While early retirement is a status that almost everyone would love to achieve, the second-best thing is standard retirement, where you can use your smart investments to make the later years of your life that much easier. But, oftentimes those who are born with a strong work ethic don’t know when the right time to ease off retirement investing is. In some cases, even intelligent investors can find themselves with a lot of ...
Jun 17, 2022•58 min•Ep. 310
I Bonds , and treasury bonds in general, have always been thought of as the “retiree's investment choice.” For those that have a short time horizon on investments, bonds have made perfect sense. With a guaranteed return , there isn’t a lot to risk for someone close to retirement age who simply wants to watch their investments stabilize—not grow or decline. And in today’s high- inflation environment , more and more individuals are realizing how worthwhile bonds are, especially as their traditiona...
Jun 13, 2022•1 hr 17 min•Ep. 309
Many FIRE chasers want to know how to stop overspending . But maybe the solution to overspending is simply knowing about it in the first place. For many Americans, credit card debt , exuberant living , and buying more than what they need are ongoing problems. And even for money masters like Carl and Mindy Jensen, it’s no different. As two leaders in the personal finance space, they understand why people overspend and how to stop it . But, as they’ve found out this year, giving advice can be easi...
Jun 10, 2022•39 min•Ep. 308
Want to work less and make more ? With a forty-hour workweek, it seems hard to imagine a reality where you can do less but still get the same results. How can you fit an entire week’s worth of work into only one day ’s working hours? Jason Wojo and Peter Kolat , hosts of The Lifeonaire Show , argue that it’s easier than you think to cut out much of your workday, enjoy your life more, and reach financial freedom faster . Both Jason and Peter grew up in troubling financial environments— raised in ...
Jun 06, 2022•1 hr 14 min•Ep. 307
If you want to invest in real estate , you’ll need a few things: a property, an income source, and some cash. If you’ve got all three, you should be able to finance your way to owning a rental property , but this becomes a little more challenging when you’re someone with fluctuating income . Entrepreneurs, especially those without a consistent client base or consistent schedules, have a seriously hard time tracking, budgeting, and saving their income which changes every other month. Chelsea and ...
Jun 03, 2022•1 hr 1 min•Ep. 306
Before you quit your job , you will need to prepare yourself not just financially, but mentally. If you’re thinking of leaving your W2, and you're not at retirement age just yet, odds are you have a side hustle or even an entire small business . As the side hustle begins to grow, you may be torn between spending time at your job and putting in the hours to scale your business . This is doubly true if you’re like Daniella Flores from I Like to Dabble , who is at a high-paying, fully-remote job wi...
May 30, 2022•1 hr 18 min•Ep. 305
It’s a strange time for student debt . On one hand, many college graduates are electing not to pay their student loans while they sit in forbearance . On the other, some debtors are choosing to take advantage of the zero-percent interest period as a way for them to pay down their loans faster . While neither of those choices is inherently wrong, they may also not be right. Today’s guest, Colton , finds himself in this position with a good $300,000 worth of student debt . This number encompasses ...
May 27, 2022•1 hr 13 min•Ep. 304
You may have seen mortgage tips posted throughout the forums or in the BiggerPockets Money Facebook Group , but rarely do you get preapproval tips straight from a lender themselves . As the housing market stays hot and interest rates continue to rise , it may seem harder and harder to get approved for the amount, or the interest rate, that you want. Now, instead of guessing what you can do to increase your financeability , you can get answers directly from the source! Joining us today is Jon Lal...
May 23, 2022•1 hr 8 min•Ep. 303
Almost every age group wants to know how to retire in ten years . Whether you’re in your teens, your mid-thirties, or your mid-fifties, retirement can seem like an eternity away. Those who retire early and find financial freedom tend to do so through a combination of smart investing, early saving, and a tenacity for budgeting (without giving up everything they love). But what if you don’t have time on your side? What if you’re still paying off debt ? Is it still possible to retire? Thankfully fo...
May 20, 2022•1 hr 22 min•Ep. 302
Asking for a prenup (prenuptial agreement) can be an exceedingly scary ask. To your partner, a prenup may seem like a way of telling them that you’re planning for a future divorce. But, in reality, it could be the thing that secretly saves your marriage . The everyday American knows very little about the prenuptial agreement and has gotten most of their information from movies, reality TV shows, and hearsay from friends and relatives. We wanted to know the truth about prenups, so we invited atto...
May 16, 2022•1 hr 7 min•Ep. 301
You’ve heard of middle-class money traps before. Like spending your whole paycheck on rent, not paying yourself first, and the sneaky seduction of obsessive eating out. Today, we’re talking about a far less known type of middle-class trap, the type that keeps your wealth growing but limits the amount of “freedom ” you feel in the process. Oftentimes, savers can find themselves in a position with a big cash surplus but hold tight to it to feel “safe” instead of feeling flexible. Today’s guest, Ap...
May 13, 2022•1 hr 12 min•Ep. 300
Budget meals , cheap eats, and deliciously discounted recipes are all in this episode of the BiggerPockets Money Podcast . As many of you financial freedom chasers know, one of the biggest monthly expenses on your budget tends to be food costs . Whether that be going out or grocery shopping to feed yourself, your spouse, your kids, and anyone else in your family— eating well isn’t cheap…or so most people think . Beth Moncel is here to tell you that the preconceived notion of good food = expensiv...
May 09, 2022•53 min•Ep. 299
Stock market crashes aren’t common, but when they happen, they often catch you by surprise. Thankfully, we’re not in the middle of a stock market crash, but this current correction or “dip” we’re riding has got some early retirement and FIRE chasers feeling a little anxious. Carl and Mindy Jensen, real estate and index fund investors, have seen a twenty-five percent drop in their portfolio just over the past six months alone. What effect does that have on their future financial plans? Welcome ba...
May 06, 2022•27 min•Ep. 298
