The cost of raising a child is constantly changing. Every year, a new article comes out claiming that the cost of raising a child is hundreds of thousands of dollars . But is this figure accurate? Could kids actually cost far less than this, or does a few hundred thousand barely even scratch the service? What should new parents know before they bring home their first bundle of joy, and i s financial independence even worth pursuing while raising a kid , let alone a few? We brought in the Investo...
Nov 28, 2022•57 min•Ep. 357
Tech stocks were slam dunk investments for the past decade. No matter what you invested in—Google, Facebook, Amazon, or even some obscure AI toaster company—you probably made decent returns . But, after years of continuous economic growth and massive government stimulus , tech stocks are finally starting to get shaky . The problem? New investors like Zoe have huge paper losses on their dashboards. But is this worth worrying over? Zoe is an ideal investor. At just twenty-four , she already has cl...
Nov 25, 2022•1 hr 5 min•Ep. 356
Travel hacks, spending hacks, medical hacks . If there’s one thing that Chris Hutchins has learned from hosting the All the Hacks podcast, it’s that everything is negotiable. You can travel to over sixty countries for (almost) free , outsource your cooking at a reasonable rate and even get free money once forgotten. Chris should know—he’s done all this and more as he works to optimize every aspect of his life, both financially and personally! Chris was hacking at a very young age. In high school...
Nov 21, 2022•57 min•Ep. 355
You’re one bad real estate investment away from being cash flow-poor and debt-rich . That’s right, not every investment property works out, and when leveraged the wrong way, a single property could put your financial future on the wrong track . While it’s easy to watch social media real estate investors flaunt their infinite cash flow and no money down tricks, buying profitable real estate is a little harder than it seems. Today’s guest, Shane , finds himself in this position, as an over-leverag...
Nov 18, 2022•1 hr 1 min•Ep. 354
What should retirement planning look like? How can I invest if I am still paying off student loan debt ? What makes a perfectly diversified portfolio ? And when is the right time to pay off my rental properties ? We went to the BiggerPockets Money Facebook Group to ask what you would like to know from a money expert. And thankfully, we found a couple of them who are friends of the show. Amanda Wolfe and Kyle Mast are here to answer some of your most-asked money questions! Amanda Wolfe was recent...
Nov 14, 2022•1 hr 1 min•Ep. 353
With so much going on—a recession , rampant inflation , rising interest rates —overcoming your money fears can be more challenging than ever before. The world is changing, and many of us feel like we’re being swept along with it. Our dollars are worth less , our retirement accounts have fallen sharply, and our cash is wasting away. What should we do when it feels like every financial move has a benefit and drawback attached to it? Should we even be making moves right now? Don’t get overwhelmed w...
Nov 11, 2022•1 hr 6 min•Ep. 352
Stock market crashes aren't good news for anyone. For retirees though, this dip in prices can feel like a death wish, as active income is no longer an option. Have the hopes and dreams of financial flexibility gone out the window? Or is a market crash like we're experiencing today just a small blip on a retiree's radar? Pairing this with inflation , how will someone who has just retired make it? We’ve got Michael Kitces , retirement planning expert and financial genius with enough acronyms comin...
Nov 07, 2022•1 hr 10 min•Ep. 351
Margin loans , medium-term rentals , and potential mortgage rate mistakes summarize what Carl and Mindy have been up to over the past couple of months. It’s been a minute since we’ve checked in on the ever-frugal Jensen family. But they’ve been gone for a good reason. Back at the start of the summer, Carl and Mindy decided that they were finished with rehabbing and big fixer-upper projects. Then they found the perfect opportunity , waiting just a few doors down from them. So, they jumped at the ...
Nov 04, 2022•41 min•Ep. 350
The new vs. used car debate has been going on for as long as automobiles have existed. For almost the entirety of time when cars were being bought and sold, it seemed like a responsible, frugal decision to buy used , save up some money, and take the repairs with the deal. But inflation has changed this debate in 2022 (and beyond). Used car prices are high—sometimes even higher than new cars—prompting shoppers to reconsider what makes the most financial sense . In the first half of this show, we ...
Oct 31, 2022•1 hr 18 min•Ep. 349
Unless you’re a money nerd, knowing how to start investing from scratch isn’t as easy as it seems. With so many options out there and the economy faltering , how do beginners avoid getting burnt? Is something like real estate investing out of reach for new investors in times like today? These questions become even more complicated if you’re like today’s guest, Steven . Steven recently became debt-free (woohoo!) after paying off six figures worth of combined student, auto, and credit card debt. B...
Oct 28, 2022•1 hr 6 min•Ep. 348
Dollar-cost averaging —you may have heard the term before, but maybe not its implications. According to Nick Maggiulli , it’s probably the easiest way to get rich with stocks, real estate, or really anything else. But what about buying the dip? Wouldn’t investing at historic lows be the wisest move to make when the markets take a tumble? Surprisingly, no! Don’t believe us? Listen on! Nick’s investing theory is simple. But, the math backs it up. Doing less will make you more money—much more money...
Oct 24, 2022•55 min•Ep. 347
Taking a sabbatical from work requires a few things: time , money , and the willpower to do some soul-searching. Most people think that they can’t take any more than two weeks of the year off work . They rack up excuses, blaming timing, too many projects, and everything in between. But what if taking a sabbatical, gap year, or any other type of long-ish break was the key to building wealth faster and being a happier , healthier you ? Today’s guest Cindy , left a high-paid, stable job to take som...
Oct 21, 2022•53 min•Ep. 346
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 th...
Oct 17, 2022•56 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 ...
Oct 14, 2022•55 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•56 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 gre...
Oct 07, 2022•53 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 o...
Oct 03, 2022•1 hr 1 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 ...
Sep 30, 2022•1 hr 14 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 agent...
Sep 26, 2022•1 hr 20 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 w...
Sep 23, 2022•1 hr 2 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 ...
Sep 19, 2022•57 min•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 early with 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•55 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 st...
Sep 12, 2022•45 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 inch...
Sep 09, 2022•47 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•54 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 Cunningto...
Sep 02, 2022•58 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, ev...
Aug 29, 2022•1 hr 2 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 kn...
Aug 26, 2022•45 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 7 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 a...
Aug 19, 2022•1 hr 44 min•Ep. 328
