541 episodes

For those who have money… or want more of it!
Join Mindy Jensen and Scott Trench (from BiggerPockets.com) weekly for the BiggerPockets Money Podcast. Each week, financial experts Mindy and Scott interview unique and powerful thought leaders about how to earn more, keep more, spend smarter, and grow wealth.

BiggerPockets Money Podcast BiggerPockets

    • Business
    • 5.0 • 2 Ratings

For those who have money… or want more of it!
Join Mindy Jensen and Scott Trench (from BiggerPockets.com) weekly for the BiggerPockets Money Podcast. Each week, financial experts Mindy and Scott interview unique and powerful thought leaders about how to earn more, keep more, spend smarter, and grow wealth.

    Building Generational Wealth? Don’t Lose It with This ONE Critical Mistake

    Building Generational Wealth? Don’t Lose It with This ONE Critical Mistake

    You’re working hard to build wealth, but without estate planning, your assets could easily land in the wrong hands, causing your family a great deal of trouble. No one likes thinking about their death, but you NEED to tackle this issue head-on if you hope to preserve your legacy!
    Welcome back to the BiggerPockets Money podcast! Today, we’re tackling two of the most taboo topics—death and money—with estate and elder attorney Jenny Rozelle. If you’re nearly ready to retire, you MUST develop an estate plan. Otherwise, intestate succession laws will determine your fortune’s fate. Even if you’re young and have little to your name, there are basic steps you can take today to ensure that your current and future assets don’t go to the wrong person.
    In this episode, you’ll learn how to find the BEST estate planning attorney and prepare for your first meeting. Jenny also shares the truth behind probate and why it isn’t nearly as painful as it sounds!
    Stick around for part two, where we rapid-fire estate planning questions at Jenny as she shares information even we didn't know about!

    In This Episode We Cover
    Basic estate planning documents every person needs (regardless of age)
    What really happens in probate court (and why it’s NOT as scary as it sounds)
    Intestacy explained, and how to stop your assets from landing in the wrong hands
    How to make sorting out your estate as easy as possible for your loved ones
    And So Much More!

    Links from the Show
    BiggerPockets Money Facebook Group
    Network with Other Investors on The Path to FIRE Through the BiggerPockets Forums
    Finance Review Guest Onboarding
    Join BiggerPockets for FREE
    Mindy on BiggerPockets
    Scott on BiggePockets
    Listen to All Your Favorite BiggerPockets Podcasts in One Place
    Apply to Be a Guest on The Money Show
    Podcast Talent Search!
    Find an Investor-Friendly Agent in Your Area
    Find Investor-Friendly Lenders
    Property Manager Finder
    BiggerPockets Money 404 - How to Build Wealth in Three Simple Steps w/The Money Guy Show
    BiggerPockets Money 510 - Morgan Housel: Financial Lessons From History Anyone Can Use to Get Rich
    Grab Brian’s New Book, “Millionaire Mission”
    Money Guys Show
    BiggerPockets Money 397 - Estate Planning, Wills, and What to Do NOW to Protect Your Heirs
    BiggerPockets Money 401 - The Post-Passing Plan: 3 Steps to Protect Your Family’s Financial Future
    BiggerPockets Money 503 - How to Keep MORE of Your Inheritance From the IRS (Avoid These Tax Mistakes!)

    00:00 Intro
    01:27 Why You NEED an Estate Plan
    07:52 Finding an Attorney & Probate 101
    18:10 First Steps for Early Retirees
    24:56 Getting Organized & Estate Planning Costs
    37:00 Connect with Jenny!
    37:29 Start Planning Today!

    Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-532

    Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com
    Learn more about your ad choices. Visit megaphone.fm/adchoices

    • 46 min
    Financial Freedom in 9 Steps: The Money Guy’s Financial Order of Operations

    Financial Freedom in 9 Steps: The Money Guy’s Financial Order of Operations

    If you follow these nine steps, you will reach financial independence. How do we know? Well, The Money Guy Show’s Brian Preston and Bo Hanson have tested it hundreds of times! Using this simple but extremely powerful “financial order of operations,” anyone from any background can achieve FIRE, even starting with nothing. From free money to becoming easily debt-free, building a solid financial foundation, and even paying off your mortgage early, Brian and Bo break down the exact route to financial freedom anyone can take.
    But first, we’ll discover if you’re a “financial mutant.” The fact that you’re listening to BiggerPockets Money already proves that you might be. But for those who have struggled with high-interest credit card debt, low savings, and lackluster investing, this episode has EVERYTHING you need to become a financial powerhouse by making nine smart money moves. 
    We’ll walk through the entire financial order of operations, from saving money to cover your deductibles to building an emergency reserve, paying off bad debt, and the “hyper-accumulation” stage you must reach to watch your net worth explode. If you’re ready to take the steps to realize financial freedom in the not-so-distant future, stay with us and grab Brian’s newest book, Millionaire Mission! 

    In This Episode We Cover
    The nine-step "financial order of operations" that will lead you to financial independence
    Why building a $1,000 emergency fund is NOT enough and how much you really need
    Whether or not to pay off your “high-interest” debt depending on your age 
    Why Brian and Bo advise people NOT to invest in real estate until they’re at THIS stage 
    The one investment account to max out before all the rest (it’s NOT your 401(k)!) 
    The “hyper-accumulation” stage that will explode your wealth (IF you can reach it)
    And So Much More!

    Links from the Show
    BiggerPockets Money Facebook Group
    Network with Other Investors on The Path to FIRE Through the BiggerPockets Forums
    Finance Review Guest Onboarding
    Join BiggerPockets for FREE
    Mindy on BiggerPockets
    Scott on BiggePockets
    Listen to All Your Favorite BiggerPockets Podcasts in One Place
    Apply to Be a Guest on The Money Show
    Podcast Talent Search!
    Find an Investor-Friendly Agent in Your Area
    Find Investor-Friendly Lenders
    Property Manager Finder
    BiggerPockets Money 404 - How to Build Wealth in Three Simple Steps w/The Money Guy Show
    BiggerPockets Money 510 - Morgan Housel: Financial Lessons From History Anyone Can Use to Get Rich
    Grab Brian’s New Book, “Millionaire Mission”

    00:00 Intro
    01:38 Financial "Mutants" Among Us
    02:52 The Financial Order of Operations 
    05:54 Cover Your HIGHEST Deductible 
    07:38 Get Your Employer Match
    09:49 Build an Emergency Reserve 
    11:11 Paying Off "High-Interest" Debt
    22:23 DON'T Invest in Real Estate?
    28:34 "Hyper-Accumulation" of Wealth
    36:47 Prepay Future Expenses 
    38:22 Pay Off LOW-Interest Debt
    46:11 Grab the New Book!

    Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-531

    Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com
    Learn more about your ad choices. Visit megaphone.fm/adchoices

    • 57 min
    Reaching $1M Net Worth and FI in 6 Years with a “Home Run” Rental Property

    Reaching $1M Net Worth and FI in 6 Years with a “Home Run” Rental Property

    You DON’T have to spend your entire life chasing financial independence. Play your cards right, and you may not even need a whole decade! With a little hard work and sacrifice, today’s guest became a millionaire (and financially free) in just SIX years!
    Welcome back to the BiggerPockets Money podcast! After years of “drifting” through life and racking up bad debt, Erichad a moment when he realized he might not be able to rely on his W2 income for as long as he had hoped. Seeing the writing on the wall, he decided to get serious about achieving financial independence—buying rental properties, fixing them up, and eventually flipping them for a huge profit. One “home run” deal catapulted him toward his FI goal and a $1 million net worth!
    If you dream of financial freedom but don’t want to spend your whole life getting there, this episode is for you! Eric offers some helpful advice for those who are looking to start their own FIRE journey—including why new investorsshould buy “grandpa’s house,” how to uncover “rare” real estate deals on the multiple listings service (MLS), and how to get the maximum return on a few years of sacrifice!

    In This Episode We Cover
    How Eric became a millionaire and reached financial independence in SIX years
    Why buying “grandpa’s house” is a cheat code for building wealth
    How to start fixing and flipping houses (and turn a HUGE profit!)
    How to find “rare” real estate deals on the multiple listings service (MLS)
    Building your real estate portfolio by using your profits to buy MORE properties
    And So Much More!

    Links from the Show
    BiggerPockets Money Facebook Group
    Network with Other Investors on The Path to FIRE Through the BiggerPockets Forums
    Finance Review Guest Onboarding
    Join BiggerPockets for FREE
    Mindy on BiggerPockets
    Scott on BiggePockets
    Listen to All Your Favorite BiggerPockets Podcasts in One Place
    Apply to Be a Guest on The Money Show
    Podcast Talent Search!
    Find an Investor-Friendly Agent in Your Area
    Find Investor-Friendly Lenders
    Property Manager Finder
    Grab Your Copy of “The Book on Flipping Houses”
    BiggerPockets Money 516 - Jaspreet Singh: Getting Rich Slowly and Why Some People STAY Broke
    BiggerPockets Money 481 - Building a $1 Million Net Worth in Only 3 Years by Investing in Real Estate
    Connect with Eric on BiggerPockets

    00:00 Intro
    01:22Millionaire in 6 Years!
    03:34 Buying “Grandpa’s House”
    09:04 Eric’s BIG Turning Point
    15:24 The Journey to $1 Million
    19:08 The “Home Run” Rental
    31:45 Moving to New Hampshire
    33:13 How to Reach FI
    36:13 Share Your Money Story!

    Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-530

    Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com

    Learn more about your ad choices. Visit megaphone.fm/adchoices

    • 47 min
    FI by 25: How to Buy Time and Freedom with a Few Years of Frugal Living

    FI by 25: How to Buy Time and Freedom with a Few Years of Frugal Living

    Financial independence by the age of twenty-five?! Today’s guest started working and saving money at a very early age, which allowed him to buy the time and freedom to do the things he values most. Whether you’re twenty-five or fifty-five, applying some of these simple principles to your own life can propel you toward financial freedom!
    Welcome back to the BiggerPockets Money podcast! Today, we’re chatting with Gabe Bult, a YouTuber, serial entrepreneur, and real estate investor who reached financial independence before his twenty-fifth birthday—all by subscribing to financial minimalism and frugal living. The only thing stopping him from retiring early? Sheer boredom! Instead, Gabe’s day typically involves precious time with his daughter, a few hours making YouTube videos, and an afternoon spent enjoying his favorite hobbies and interests.
    YOU can have this life, too, but not without a little sacrifice, education, and discipline. Fortunately, it only takes a few years of ferocious frugality to get ahead, save for the future, and become “set for life.” And in this episode, Gabe will show you how to do just that! You’ll learn how to save your first $25,000 (and what to do with it), live for free with the house hacking strategy, and start a business that allows you to earn more and work less!

    In This Episode We Cover
    How Gabe reached financial independence by the age of twenty-five
    “Financial minimalism” explained (and why it’s MUCH easier than you think!)
    How a few years of frugal living can fast-track your journey to FI
    Living for FREE with the house hacking investing strategy
    Starting a business that allows you to earn more and work less
    And So Much More!

    Links from the Show
    BiggerPockets Money Facebook Group
    Network with Other Investors on The Path to FIRE Through the BiggerPockets Forums
    Finance Review Guest Onboarding
    Join BiggerPockets for FREE
    Mindy on BiggerPockets
    Scott on BiggePockets
    Listen to All Your Favorite BiggerPockets Podcasts in One Place
    Apply to Be a Guest on The Money Show
    Podcast Talent Search!
    Find an Investor-Friendly Agent in Your Area
    Find Investor-Friendly Lenders
    Property Manager Finder
    BiggerPockets Money 468 - ‘Bar Rescue’ Host Jon Taffer on the “Secret Recipe” for a Successful Business
    Connect with Gabe on BiggerPockets

    00:00 Intro
    01:34 What Is Financial Minimalism?
    04:38 A Day in the Life with FI
    07:30 Gabe’s Money Journey
    13:06 The Art of Entrepreneurship
    16:30 House Hacking 101
    24:34 Education & EXTREME Discipline
    35:41 Connect with Gabe!
    36:01 Become a Financial Minimalist!

    Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-529

    Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com

    Learn more about your ad choices. Visit megaphone.fm/adchoices

    • 46 min
    The Small Business Owner’s Guide to Taxes, LLCs, Deductions, & Audit Risks

    The Small Business Owner’s Guide to Taxes, LLCs, Deductions, & Audit Risks

    Starting your first or next business? This episode is for you. Today, we’re bringing you everything you need to know about small business taxes for beginners. Whether you’re a solo entrepreneur, partner, landlord, house flipper, Airbnb host, or something in between, you MUST know about these tax laws before you start making money with your own business because if you get them wrong, you could be paying a MASSIVE penalty come tax time. You could save yourself thousands, or TENS of thousands, just by tuning in!
    Brandon Hall, CPA, runs a real-estate-focused tax and accounting firm for big and small real estate investors. But, even if you’re not investing in real estate, these tax tips also apply to YOU. In today’s episode, we threw dozens of hard-hitting tax questions at Brandon so you know what to do with your next side hustle or full-blown business.
    We’ll discuss whether you need an LLC, the real benefits of getting one, and which business entity (LLC, S-corp, C-corp, etc.) makes the most sense for your specific business and tax needs. Making money on your own but NOT paying quarterly taxes? This could cost you BIG, but thankfully, Brandon goes through exactly how much you could owe. And if you want to owe less to the IRS, we’ll give examples of tax deductions plus, which are NOT worth it and could put you at a BIG audit risk.
    Need a tax professional for your small business? Find one for free with BiggerPockets Tax and Financial Services Finder! 

    In This Episode We Cover
    Self-employment and small business taxes for beginners 
    Whether or not you need an LLC and why most real estate investors have this all wrong
    Estimated taxes and the MASSIVE penalty you’ll pay if you forget about this
    Tax deductions and the audit red flags that the IRS is looking for
    The different business entities you can start and which has the best tax benefits 
    The three things you NEED to set up an LLC and the most critical one beginners forget
    “SALT” taxes and why those selling goods in different states could owe even more
    And So Much More!

    Links from the Show
    BiggerPockets Money Facebook Group
    Network with Other Investors on The Path to FIRE Through the BiggerPockets Forums
    Finance Review Guest Onboarding
    Join BiggerPockets for FREE
    Mindy on BiggerPockets
    Scott on BiggePockets
    Listen to All Your Favorite BiggerPockets Podcasts in One Place
    Apply to Be a Guest on The Money Show
    Podcast Talent Search!
    Find an Investor-Friendly Agent in Your Area
    Find Investor-Friendly Lenders
    How to Obtain Real Estate Professional Tax Status
    Hear Past Episodes with Brandon:
    BiggerPockets Real Estate 196 - LLCs, House Hacking, and Saving on Taxes with Brandon Hall
    BiggerPockets Real Estate 269 - How the New Tax Code Affects Your Real Estate Investments
    BiggerPockets Real Estate 934 - How to Pay Less Taxes by Buying Real Estate (1 Write-Off You’re Overlooking)
    On the Market 96 - The Biggest Real Estate Tax Loophole You’ve (Probably) Never Heard Of
    On the Market 165 - Year-End Tax Updates, New IRS Interest Rates, and URGENT News for LLCs
    On the Market 187 - 100% Bonus Depreciation Coming Back? (Do NOT File…Yet)

    00:00 Intro
    01:42 Do You Need an LLC?
    02:01 Different Business Entities
    09:29 3 Steps to Set Up an LLC
    16:49 KEY Dates to Know 
    19:14 Estimated Taxes
    25:48 The “SALT” Taxes
    31:56 Tax Deductions and Audit Red Flags
    44:22 Claiming Passive Losses 

    Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-528

    Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com
    Learn more about your ad choices. Visit megaphone.fm/adchoices

    • 56 min
    Retired at 49 on an Average Salary after Getting a “Late Start” to FIRE

    Retired at 49 on an Average Salary after Getting a “Late Start” to FIRE

    Think it’s too late for early retirement? Do you feel like just because you’re in your late thirties, forties, or fifties, FIRE doesn’t make sense for you? Well, think again because today’s guest defied the odds by retiring over fifteen years early, all while raising her daughter on her own and without a six-figure salary to sail her swiftly to a million-dollar net worth. Plus, she did all of it with no investing experience. If Jackie Cummings Koski can do it, so can you!
    Jackie grew up in a single-parent household. Her father worked hard to support her and her five siblings. This instilled a strong work ethic in Jackie and made her realize that running towards hard things, not away from them, was the true path to success. She figured out college on her own and, shortly after, landed a corporate job that took her far away from the small town she grew up in. She got married and had her daughter, but then everything changed.
    Jackie was getting divorced, forcing her to rely on herself fully for her financial future. In true Jackie fashion, she took this as a challenge and began educating herself as best as she could. Through smart saving, spending, and life-changing investing decisions, Jackie built her wealth in record time, reaching financial independence just ten years after finding the FIRE movement—all without any advantages!

    In This Episode We Cover
    How to reach financial independence without a high salary, inheritance, or advantages
    Stock investing 101 and how intentional investing can explode your net worth
    Why you must max out THESE investment accounts to be richer in retirement
    How Jackie spends just $40,000 per year owning her own home and raising her daughter
    Why you DON’T have to follow all the traditional FIRE rules to retire early
    And So Much More!

    Links from the Show
    BiggerPockets Money Facebook Group
    Network with Other Investors on The Path to FIRE Through the BiggerPockets Forums
    Finance Review Guest Onboarding
    Join BiggerPockets for FREE
    Mindy on BiggerPockets
    Scott on BiggePockets
    Listen to All Your Favorite BiggerPockets Podcasts in One Place
    Apply to Be a Guest on The Money Show
    Podcast Talent Search!
    Find an Investor-Friendly Agent in Your Area
    Find Investor-Friendly Lenders
    Money Podcast 154 - Bill Bengen (The Inventor of the 4% Rule) Talks Retirement, Past Crashes, and How You Can Withdraw Even More
    Email Mindy for the Full 4% Rule Article!
    Money Podcast 344 - Rethink Social Security: Myths, Benefits, and Clearing Up Misconceptions
    Resources Mentioned in This Episode:
    Better Investing
    Root of Good
    Mr. Money Mustache
    Mad Fientist
    1500 Days

    00:00 Intro
    01:14 FIRE at 49!
    02:50 Making Money in Retirement 
    06:11 Early Years, College, and Getting Divorced 
    11:21 Working Her Way Through College
    15:06 Getting Hired After College
    15:50 Starting to Learn About Stocks
    20:02 Finding the FIRE Movement
    26:54 Spending and Saving
    36:01 Jackie's Podcast and New Book!
    38:20 Connect with Jackie!

    Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-527

    Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com
    Learn more about your ad choices. Visit megaphone.fm/adchoices

    • 47 min

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