What does it mean to “win” financially in your income bracket? To us, the end goal is always FIRE (Financial Independence, Retire Early), and if you’re chasing financial freedom , this is the show for you. We’re breaking down the money moves you need to make based on your income bracket , going from $45,000 to $100,000 per year , and how to stretch your dollar the furthest so you can invest, save, and reach FIRE faster. If you’re at the lower end of the income scale, we’ll give you time-tested m...
Oct 01, 2024•37 min•Ep. 568
Young, old, or in between, you need to hear this episode! Today’s guest paid off over $80,000 of debt , grew her net worth to $100,000 and did it all just years after graduating from college without a sky-high income. How did she make such quick progress, and what’s her secret to skyrocketing her net worth early in her career ? She’s sharing it all in this episode, and you (no matter your age) can follow her repeatable path, too! Want to see your net worth leap so you can fast-track your road to...
Sep 27, 2024•34 min•Ep. 567
Does FIRE seem impossible while raising a family? We’re about to prove that you CAN have it all. Emily and Joel are financially independent while raising five kids and still have the money to travel the world, take plenty of vacations, and sleep in without worrying about a job. They reached FI in just over a decade and did it without EVER having a high income. How’d they do it? One “financial superpower” allowed them to do what most people won’t. Emily and Joel started with $150,000 in student l...
Sep 24, 2024•41 min•Ep. 566
When should you refinance your mortgage? Is now the time since interest rates have finally fallen ? Or will refinancing down to today’s rates not be worth it when, six months from now, interest rates could be substantially lower? We brought on an expert mortgage loan officer to walk through the cost-benefit analysis of refinancing in 2024 and when a refinance is NOT worth the money. Greg Roller has closed over a billion dollars in loans, but surprisingly, he’s very cautious with homeowners about...
Sep 20, 2024•36 min•Ep. 565
Visit PassivePockets , your resource for passive investing with syndications. Passive investing is most people’s goal, especially if they’re trying to achieve FIRE . They don’t want to be weighed down by managing a dozen rental properties , an active business, or a complicated stock portfolio that requires constant check-ins. Instead, many of us want that “mailbox money,” with checks coming in without us having to do the work ourselves so we can focus on doing what we love. Sounds enticing, righ...
Sep 17, 2024•37 min•Ep. 564
Has BiggerPockets Money become too focused on FIRE (financial independence, retire early)? For the past seven years, we’ve been bringing you shows highlighting the journeys of those who left their jobs to enjoy early retirement . Some of these guests did it faster than others by making more money , increasing their frugality, investing smart, or building a business. But the question many of our listeners are wondering is: Is this even possible for the average, “normal” person? Today, we’re takin...
Sep 13, 2024•31 min•Ep. 563
Achieving your FI number in just four years? If you want to do it too, you must try something different. This couple found a niche within a niche, allowing them to hit the coveted “1% rule” in real estate , skyrocketing their cash flow and passive income and allowing them to make more than almost any other landlord in their area. So, how did they do it, and what was the investment that got them there? David and Morgan Stanhope weren’t real estate investors five years ago. They didn’t come from i...
Sep 10, 2024•39 min•Ep. 562
You did it; you achieved FIRE ! After over a decade of hard work, you’ve reached financial independence and can retire early . You’re making more money than you spend from passive income , work-optional, and life is good. But your dreams are starting to change . Maybe you want to spend more on experiences, build your dream house, or move to a higher-cost-of-living area. Now, your expenses are starting to creep up , and your FIRE is about to burn out. What do you do, and is it wrong to return to ...
Sep 06, 2024•43 min•Ep. 561
Did you know you can use your 401(k) to retire early ? Yep, it’s possible. And today’s guest, Eric Cooper , is doing it at age 47 ! Most FIRE chasers search for how to withdraw from a 401(k) early but know that doing so will hit them with substantial penalties. The best way around this? The 72(t) rule —which is precisely what Eric has been taking advantage of. Eric uses the 72(t) rule’s “substantially equal periodic payments” to take early withdrawals from his 401(k) of $30K per year, starting a...
Sep 03, 2024•47 min•Ep. 560
What if you could “retire” early, working only FOUR hours a week ? Coast FIRE achiever Diania Merriam did just that! After a decade of hustle in corporate America, Diania found herself financially behind with $30,000 in debt . Dreaming of a life-changing adventure but lacking the funds, she decided to overhaul her finances. Fast forward, and now in her mid-thirties, she’s debt-free, successfully self-employed (or, as she puts it, happily “unemployed”), living life on her terms. So, how did Diani...
Aug 30, 2024•30 min•Ep. 559
The IRA vs. 401(k) . You’ve heard of these retirement accounts before, but do you know the difference between the two? Maybe you have a 401(k) at work and have been diligently getting your employer match but struggle to describe what you’re investing in . You’ve heard top financial experts talk about how a Roth IRA is crucial for saving on taxes long-term , but are you eligible to invest in one? Today, we’re discussing top retirement accounts and how to start investing with just $100 . CFP (Cert...
Aug 27, 2024•37 min•Ep. 558
Have you ever made a poor financial decision ? You’re not alone! But can a bad blunder disqualify you from FIRE ? Today’s guest made a huge investment at the worst possible time, a move that had consequences a decade later. Despite this, he was still able to reach early retirement in just fifteen years ! Welcome back to the BiggerPockets Money podcast ! Ryan Connell had a picture-perfect start to his financial independence journey — saving money at a young age and living well below his means. Bu...
Aug 23, 2024•47 min•Ep. 557
2013 was a pivotal year for our hosts. Scott was fresh out of college and just beginning his journey to financial independence , while Mindy and her husband were well on their way to FIRE and had just launched their blog, 1,500 Days , to document their progress. But if they were starting over today, would they change anything? Welcome back to the BiggerPockets Money podcast ! In today’s episode, Scott and Mindy are winding back the clock ten years and sharing what they would do differently if th...
Aug 20, 2024•35 min•Ep. 556
This might be the fastest path to FIRE we’ve ever seen. In just two years, Emily and James were able to retire early and travel the world full-time. They didn’t have a trust fund, some huge inheritance, or a winning lottery ticket. But they did make some serious sacrifices , cutting almost everything unnecessary out of their lives to retire early and quit the jobs they were itching to get out of. How’d they do it? After realizing they were throwing away every cent they made , James stumbled upon...
Aug 16, 2024•43 min•Ep. 555
Pay off your mortgage or invest? If you’re on the path to FIRE , you’ve probably asked yourself this question. Without a mortgage payment, you could put thousands more in your pocket every month, and your FIRE number would decrease significantly. On the other hand, investing all the money you could have spent on paying off your mortgage may allow you to build considerably more wealth and reach Fat FIRE with more assets to your name. So, which move do you make? Mindy and Scott are coming on to de...
Aug 13, 2024•35 min•Ep. 554
Once you hit Coast FI , you don’t need to worry about retirement. While traditional FIRE may take a bit more extra work, Coast FI allows you to let your foot off the gas and enjoy life NOW, knowing that you’ll be set for retirement by the time you’re sixty-five. Lisa hit her coast FI number at the (very) young age of twenty-seven, and she will have millions of dollars waiting for her in retirement, even if she stops investing now. How’d she do it so quickly? When her father challenged her to sav...
Aug 09, 2024•33 min•Ep. 553
You can take your time to reach financial independence , but why wait? With a combination of hard work , savvy investing , and additional income streams , today’s guest reached FI by the age of twenty-eight . In this episode, she provides the blueprint that teachers and other middle-class workers can use to fast-track their financial goals ! Welcome back to the BiggerPockets Money podcast ! Today, Brooke Coughlin is a business owner , real estate agent , investor , and author. But, just FOUR yea...
Aug 06, 2024•40 min•Ep. 552
The BiggerPockets Real Estate Podcast is about to hit a huge milestone—our 1,000th episode! Real estate has changed quite a bit since we started this podcast, so we’re making some changes, too. We’re bringing on new guests and new formats while focusing on investing tactics and strategies that work in TODAY’s housing market. Oh, and did we mention fewer ads, too? We’re still delivering the time-tested knowledge, inspiration, and news you expect from the BiggerPockets Real Estate Podcast so YOU c...
Aug 05, 2024•3 min
Todd retired early at age forty-four , just three years after discovering the FIRE movement . The most interesting part? He quit without reaching his FIRE number. That’s right. After realizing he couldn’t go one more day working his job , he quit, even without the perfect amount of money on the sidelines. Did he survive in the FIRE life, or did he eventually have to return to work to rebuild his portfolio? Stick around and find out! Although Todd made a good income, he spent most of it on his li...
Aug 02, 2024•18 min•Ep. 551
Wouldn’t it be nice if your home paid for itself? Every month, you throw a substantial sum of money towards your rent or mortgage payment, but what if you could live mortgage-free? With ADU investments, it’s more than possible. Michael Russell used an ADU (accessory dwelling unit) to make an extra $1,400/month off of his pricey California home. Combined with a bit of house hacking, Michael was getting PAID to live in one of the nation’s most expensive states. And he did it all on an average sala...
Jul 30, 2024•55 min•Ep. 550
Is the FIRE movement dead? In 2024, more people are catching on to the huge downsides of pursuing financial independence, retire early . Strict frugality, massive sacrifice, working harder than ever…is it really worth it to retire decades before everyone else? If you’re internally screaming, “Yes! Of course it is!” you’re in good company. Today, we’re talking about why FIRE is NOT dead in 2024 but why most Americans won’t achieve it . It’s easy to claim that the FIRE movement is dead in 2024 whe...
Jul 26, 2024•44 min•Ep. 549
Are we in a recession ? Are we headed for a recession? No one knows for certain, but you can never be too prepared for an economic downturn . Are you saving money ? Do you have a plan in the event you lose your job ? In today’s episode, we’ll help prepare you for anything that might be thrown your way! Welcome back to the BiggerPockets Money podcast ! Amidst economic uncertainty , there are two steps you must take to weather tough times: build an emergency fund and brace for a potential layoff ....
Jul 23, 2024•48 min•Ep. 548
You could be missing out on the chance to earn passive income from your home (and other rentals !) with a “no-brainer” money move. This investing strategy is picking up steam and could become one of the big trends in real estate this year. Today’s guest was one of the early adopters, and it carried him to FIRE by his late thirties ! Welcome back to the BiggerPockets Money podcast ! Today, we’re chatting with “ That ADU Guy ,” Derek Sherrell . Right before the 2008 housing market crash , Derek le...
Jul 19, 2024•1 hr 4 min•Ep. 547
The road to financial independence isn’t always linear, but stoicism might be the secret ingredient that keeps you on track. This ancient philosophy gets a bad rap, but with its framework as your financial “operating system,” you’ll be able to weather all kinds of storms! Welcome back to the BiggerPockets Money podcast ! Today, Darius Foroux is a business owner , landlord , financial educator , and the author of eight books. But as a boy, he watched his family live paycheck to paycheck for many ...
Jul 16, 2024•58 min•Ep. 546
Fat FI and generational wealth in THREE years ?! How is that possible? The sooner you forge good money habits , the sooner YOU can achieve your FI goal . Today’s guest wanted to build wealth as soon as possible, and in this episode, he will share the secrets to his enormous (and rapid) success! Only a few years ago, Josh Janus was flipping sneakers he couldn’t afford and making DoorDash deliveries for a little cash. Today, he has a seven-figure income and an eight-figure real estate portfolio . ...
Jul 12, 2024•58 min•Ep. 545
Reaching financial independence and becoming a millionaire before the age of thirty ?! While this path requires several years of ruthless saving , smart investing , and unwavering discipline , there’s no reason why YOU can’t enjoy financial freedom and attain the lifestyle you want ! Shortly after graduating from college with over $50,000 in student loans , Franklin Zheng found himself working a grueling, eighty-hour-per-week factory job . Fortunately, it was also around this time that he discov...
Jul 09, 2024•45 min•Ep. 544
You dream of retiring early , but you’re stuck in the “middle-class trap.” You’ve built up a solid net worth , maybe own a rental property or two, and on paper, you look like you’re on track to make it rich. But in reality, you don’t feel that way. With all your wealth tied up in home equity or retirement accounts , your “early” retirement may have to be pushed to the traditional age of sixty-five. So, how do you free up some of this wealth so you can start accessing it today to retire early tom...
Jul 05, 2024•1 hr 14 min•Ep. 543
Want a personalized financial independence plan that’ll get you closer to early retirement ? Well, we’ve got just what you’re looking for! On this second annual “ Financial Independence Day ,” Mindy and Scott are sharing a new way to get you to financial freedom faster . With so many applications for our “Finance Friday” series, we decided to make a downloadable that allows you to do your own personal finance review AND build a faster path to FIRE ! But before you start filling out your financia...
Jul 02, 2024•58 min•Ep. 542
Student loan debt can easily get in the way of financial independence , especially if there’s a high interest rate attached to your loans. But should you pay down this debt at the expense of investing for the future ? There are several factors we’re going to explore in today’s episode! Lauren is a physician assistant with a stable W2 job , a house hack , and a side hustle that provides her with a little “fun” money each month. But as she and her partner work toward their goal of reaching FI in t...
Jun 28, 2024•1 hr 11 min•Ep. 541
Renting vs. buying a house : when it comes to FIRE , many people assume that you must own a home and preferably have it paid off to reach financial freedom . But is this really true? With renting so much cheaper than buying in 2024, would it be wiser to rent a place and send the savings to your investment accounts? Today, we’re tackling this topic and a few other heavy hitters as we give our takes on four of the hottest financial headlines . Kyle Mast , certified financial planner, joins Scott T...
Jun 25, 2024•47 min•Ep. 540
