Cryptocurrency is dead in the mind of most investors. What started as an awe-inspiring investment reaching massive multiples in just months, quickly became a subject of contention within the investing community. Some moretraditional investors called cryptocurrency an outright fraud, while others claimed it was the final puzzle piece in the battle for a stable fiat currency. Now, with many crypto prices down, is there any reason to invest? For long-time listeners of the BiggerPockets Money Podcas...
Jan 18, 2023•1 hr•Ep. 375
Private equity is a term often left undefined. Ask most people if they’ve heard of private equity, and they’ll say yes. But ask them to explain what it is or how it works, and most Americans will struggle to come up with even a sentence. The industry of private equity investing is shrouded in mystery, but it probably shouldn’t be. If you know what private equity is and how to invest in it, you could take home passive income that beats the stock market and real estate investing with none of the h...
Jan 16, 2023•59 min•Ep. 374
Mastering personal finance is one of the most important things anyone can do. If you know where your money is coming from, where it’s going, and how to make more of it, you can retire comfortably, retire early, or have less financial anxiety at the end of the day. But, the world of personal finance can be complicated for beginners. With so many spreadsheets, calculators, money methods, and mistakes to avoid, where does someone just getting started go to understand the basics? We brought Scott an...
Jan 13, 2023•48 min•Ep. 373
Want to buy a business? If so, you’ll need franchises explained. At first, franchises seem like something only for fast food, gas stations, or hotel chains. But, in reality, a whole world of businesses are up for sale that have proven track records and could put profits into your pocket faster than starting your own business. But first, you’ll need to make sure you’re ready to own and run a franchise, as it’s not always the passive income stream investors believe it to be. When done right, franc...
Jan 11, 2023•1 hr 4 min•Ep. 372
Asking for Bitcoin explained is like asking how a rocket works; it's a little complex. A digital currency is valued at a certain amount of dollars (or euros, yen, etc.) and is used to pay for goods or exchange for other currencies. That makes sense. But things can get complicated as we go deeper into Bitcoin and the blockchain. There's no need to get overwhelmed; we brought Saifedean Ammous, economist and author of The Bitcoin Standard, onto the show to explain. Saifedean, like many investors, w...
Jan 09, 2023•1 hr 14 min•Ep. 371
How can a simple pressure washing business make you six figures of income a year? With a startup cost of only a couple hundred dollars, today’s guest Chris expanded his pressure washing, Christmas light-hanging, gutter-cleaning operation into a profitable business with multiple employees and a stacked schedule. But, as Chris has started to expand, he’s seen his personal profits decline, so should he outsource less so he can keep more of the revenue he’s working hard to bring in? Welcome back to ...
Jan 06, 2023•53 min•Ep. 370
Multi-level marketing companies (MLMs) operate in secrecy. They don’t want you to know where the products are coming from, how they’re being sold, who’s making a profit, and how the business works. They only want you to buy. Buy this starter kit, host that party, convince your friends and join the cult—sorry, the “club.” Operating in darkness is how these pyramid schemes build their membership count, branch into new cities, and keep average Americans in debtbut still chasing an empty dream. So h...
Jan 04, 2023•57 min•Ep. 369
Lynne Twist’s The Soul of Money sparked a conversation we needed to have. It didn’t make people think “how do I make more money,” instead it asked, “what world am I making with the money I have?” For decades, Lynne has beenfundraising for charities and causes around the globe. From ending world hunger to fighting for the climate, she’s made sure that her dollars are best put to use, helping the most people she can with the money she makes. Lynne’s rock-solid financial sense came from an unusual ...
Jan 02, 2023•1 hr 4 min•Ep. 368
Couch flipping may be the best side hustle you’ve never heard of. It’s so lucrative that today’s guest Parker used couch flipping to save up his down payment for his first house hack! Of course, who could have assumed otherwise from someone like Parker? He’s a financial analyst who made an intelligent move from expensive Boston to sunny Tampato house hack for the first time with one of his best friends. He’s making some impressive moves at a young age, but he still has questions about what to do...
Dec 30, 2022•58 min•Ep. 367
Financial independence means something different to everyone. For some, it means having enough to not worry about being laid off. For others, it could mean making more money to buy a yacht, but for Ali and Josh (TheFICouple), financial independence means more time together, growing a family, and a community that helps others reach their highest potential. Just four years ago, Ali and Josh were strapped with six figures worth of debt, living paycheck to paycheck, struggling to survive. Now, they’...
Dec 26, 2022•56 min•Ep. 366
Don’t know how to become a millionaire? There’s a pretty simple formula for seven-figure wealth that the average American doesn’t know about. It isn’t complicated, but it does take a fair amount of time to come to fruition. If you follow the same strategy, regardless of where you’re starting right now, you too could become a millionaire in under ten years. This wealth-building formula is exactly what today’s guest, Remy, is looking for. Remy is doing his mid-twenties the right way. He’s got a gr...
Dec 23, 2022•1 hr 3 min•Ep. 365
Everyone makes financial mistakes, even those that we trust with money the most. Rachel “Money Honey” Richardsto many people online is the epitome of someone who has their finances locked down. She grew a massive real estate portfolio in her twenties, hit financial freedom before thirty, and has written bestselling books that others use to increase their financial acumen. And although Rachel still is a financially free money nerd like no other, her recent divorce changed most of what she knew. T...
Dec 19, 2022•59 min•Ep. 364
Once you know how to save money, you can start stacking those savings to buy real estate and businesses or invest in long-term wealth-building investment accounts. But, without a steady stream of savings coming in, you're treading water, and one emergency expense could completely blow you off course. In a high-cost-of-living area like Washington, DC., this can seem even harder as rent, gas, and going out prices are far above the national average. But, there are some surefire ways to save (and ma...
Dec 16, 2022•1 hr 1 min•Ep. 363
A financial plan puts you on the path to long-term wealth and a life rich in time freedom. So why don’t most Americans have one? Everyday workers are often so focused on paying bills and having a sliver of time to relax that they completely forget the whole reason many of us work—to one day do what we want, when we want, with who we want. So, if you’ve been on the grind, making money, wanting to build wealth, but don’t know where to start, this is the episode for you. In it, Scott Trench walks t...
Dec 12, 2022•49 min•Ep. 362
Retirement planning is something best started early on. The more time you give yourself to invest, the faster your accounts can grow, giving you early financial independence well before the age of sixty-five. But what are the two best ways to do this? On one hand, you’ve got cash-flowing rentals that appreciate while giving you freedom-enabling income with long-term wealth growth. On the other hand, you’ve got passive retirement accounts, many of which can save you boatloads on taxes and grow di...
Dec 09, 2022•53 min•Ep. 361
If you talk about how to avoid taxes, most people will think you’re doing something fishy in the eyes of the IRS. Very few know you can use the tax code to massively lower your year-end burden, all while making an ordinary income. Real estate investors have been doing this for years, using so-called “tax cheat codes” like depreciation and cost segregation studies to write off massive paper losses on their taxes. But how do they do it, and if you’re an investor, can you do the same? Natalie Kolod...
Dec 05, 2022•45 min•Ep. 360
The house hack strategy doesn’t always run smoothly. Turning an old home into a modern, rentable masterpiece takes money—especially if you’re doing a big renovation. One of the easiest ways to get the rehab funds you need? A home equity line of credit (HELOC). But, when used incorrectly, a HELOC’s adjustable interest rate can bury any chance you have at cash flowing, no matter how great of a mortgage rate you get. Welcome back to another Finance Friday episode! This time around, we’re tackling a...
Dec 02, 2022•1 hr 2 min•Ep. 359
For the past decade, Giving Tuesday has been a way for everyday Americans to donate their money, or time, to charities and causes that help collectively make the world a better place. Whether it’s a little or a lot, we’re encouraged to give what we can to bridge the gap between those that have so little and many of us that have so much. But how do you know a charity or organization is using your donation accordingly? How can you spot-check to see if your dollars are being used for those in dire ...
Nov 29, 2022•50 min•Ep. 358
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 is financial independence even worth pursuing while raising a kid, let alone a few? We brought in the Investor M...
Nov 28, 2022•1 hr 1 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 close ...
Nov 25, 2022•1 hr 9 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•1 hr 1 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-leveraged ...
Nov 18, 2022•1 hr 4 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 recently ...
Nov 14, 2022•1 hr 4 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 with ...
Nov 11, 2022•1 hr 9 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 coming ...
Nov 07, 2022•1 hr 13 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 cha...
Nov 04, 2022•45 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 ta...
Oct 31, 2022•1 hr 21 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. But...
Oct 28, 2022•1 hr 9 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•58 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 some much...
Oct 21, 2022•57 min•Ep. 346
