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.
Reaching Financial Independence Despite a Very Late Start with Baby Boomer Super Saver
To say that Kathy from Baby Boomer Super Saver had a difficult journey ahead of her is an understatement. She was $70,000 in credit card debt, with a big mortgage, and a spouse that had a medical emergency. So how did she make her way to the millionaire retirement level?
Through financial management communities like the FIRE movement, she was able to correct her spending faults, earn more, and invest most of her income into retirement accounts.
Kathy put in the work to change her mindset about money as a whole, and reach for abundance instead of just survival. Now, Kathy teaches others how they can reach their retirement goals (even if they’re behind where they want to be) on her Baby Boomer Super Saver blog.
Whether you’re just starting your career, or are a few years away from retirement, Kathy has some incredible tips on money management, maxing out retirement contributions, and being intentional with your money and your journey.
In This Episode We CoverHow to reach your retirement goals even if you start later in lifeSnowballing your debt so you can save moreChanging your financial mindset to get where you need to beThe 2 key ways to get your retirement savings upHow catchup contribution accounts like the 457b plan can accelerate your investingBeing intentional with your money while lining up your saving/investing with your valuesThe importance of educating yourself and not relying entirely on others for financial adviceAnd SO much more!Links from the ShowBiggerPockets Money Facebook GroupBiggerPockets ForumsDave RamseyBiggerPockets Money Podcast 18 with Mad Fientist
From Single Dad w/ $61K in Student Loans to Financially Savvy Real Estate Investor with Tony J Robinson
You may know Tony J Robinson as the co-host of the Real Estate Rookie podcast, but you probably don’t know his backstory.
As a single dad working his way through college and student debt, Tony knew that he needed to have a plan in place to pursue his goals and find financial freedom. He also knew he didn’t want to repeat the same real estate mistakes as his parents.
He went from an engineering student, to owning a small tutoring business, to marketing, and finally landed a sweet gig at Tesla!
After paying off debt, creating a healthy reserve fund, and divvying his money into over 20 different checking accounts (yes, 20+), he was able to reap the rewards of smart financial management and chase down freedom through real estate.
If you’re trying to consolidate debt, find ways to make more money at a job, or leverage creative funding to finance your next deal, Tony has a solution to your problem.
In This Episode We CoverHow job jumping can accelerate your raises and income growthWhy EVERY investor (and person in general) needs a healthy cash reserveThe importance of talking to your children about financeWhy being good at math doesn’t mean you’re great at financial management How paying off debt can drive investment fundingHow to fight lifestyle/income creep so you can live below your meansThe strategy to leverage your stock portfolio for real estate fundingCreating the “why” behind financial decisionsAnd so much more!Links from the ShowBiggerPockets Money Facebook GroupBiggerPockets ForumsDave Ramsey's Envelope System ExplainedBiggerPockets Money Podcast 149 with Nick GrooverBiggerPockets Money Podcast 112 with Natalie KolodijRookie Podcast 10 with Tony RobinsonRookie Podcast 37 with Tony Robinson
From Childhood Homelessness to Financially Confident with Cristina Livadary
Cristina Livadary immigrated to the US when she was 6, and less than a year later, her father left, leaving her stranded with her mother and sister. She didn't speak the language, had no money, and lived in hotels until her mother was able to find steady work as a chef.
She grew up without much in the way of financial education, but did secure a water polo scholarship to Bucknell. Until a rotator cuff injury lost her the funding at the beginning of her third year. She left college with $100,000 in student loans and a burning desire to find a high paying job to live out her Carrie Bradshaw dreams of living in NYC.
She spent two years in New York, working hard and spending harder. She moved to LA to run a division covering California and Hawaii, and decided she needed to make a big change.
Cristina stopped spending lavishly on things that didn't matter, started focusing on what made her happy, and now helps others manage their finances to get money out of the way and live their best lives.
Links from the ShowBiggerPockets Money Facebook GroupBiggerPockets ForumsBiggerPockets Money Podcast 55 with Kristy and BryceBiggerPockets Money Podcast 55.5 with Kristy and BryceBook:The Seven Stages of Money Maturity by George KinderThe Psychology of Money by Morgan HouselConnect with Cristina:Mana Financial Life Design
Listener Finance Review: Knocking Out Debt to Start Investing
Nick Groover is 25, with a young daughter and a fiance, looking to make changes to his finances so he can start married life off on the right foot.
He has some debts he'd like to knock out so he can start investing in real estate, and potentially start a business. He just got a promotion and a raise, and on paper is doing pretty good.
But Nick needs to start budgeting, because a dollar here and five dollars there is eating up his overage, so there is very little to save.
In today's episode, Scott and Mindy sit down with Nick to go over his current financial situation and use their life experiences to suggest easy wins to help pay down his debt, start saving for future real estate purchases, and start investing for retirement.
Nick's in a good place right now, but following Scott & Mindy's suggestions should help him get money out of the way so he can go on to lead his best life!
Links from the ShowBiggerPockets Money Facebook GroupBiggerPockets ForumsDave RamseyMobile Expense Tracking App - Waffles On Wednesday
How to Become an Everyday Millionaire with Chris Hogan
Chris Hogan joins Scott and Mindy today to chat about becoming an everyday millionaire.
Chris and his team interviewed more than 10,000 millionaires to hear how they did it. Hard work, determination, spending less than you make, investing wisely, and eliminating debt.
Chris shares how to discuss your finances with your spouse - and how to bring them on board when you have differing views about money. He talks about the emotional journey that debt paydown can take you on - and how to handle that so you come out on top!
Chris also reveals his feelings about FIRE - and how there is too much focus on the RE and not enough on the FI. He wants you to become Financially Independent but also wants you to enjoy your journey.
Chris firmly believes that anyone can become debt free and start to build wealth to become an Everyday Millionaire.
Links from the ShowBiggerPockets Money Facebook GroupBiggerPockets ForumsDave Ramsey's 7 Baby StepsBiggerPockets Money Podcast 50 with Patrice WashingtonThe Retire Inspired QuotientBooks:Everyday Millionaires by Chris HoganThe Richest Man in Babylon by George S. ClasonThe Total Money Makeover by Dave RamseyConnect with Chris:Chris Hogan's Website
Pursuing Financial Independence on Her Own Terms with Cathleen Hutchins
Cathleen Hutchins grew up in Hawaii. She come over to the mainland for college, but Hawaii kept calling her name, so she moved back home.
Hawaii is an expensive place to live, and Cathleen knew she'd need a plan in order to reach financial independence if she was going to live there for the rest of her life.
So she saved. She invested. She made smart decisions about her money and is continuously looking for ways to generate passive income to help fund her retirement.
She has also sacrificed some comforts and norms to get to where she is today. She and her husband lived apart for a while, both living where there was a job for each of them, not always in the same state!
But her sacrificing and saving has allowed her to move home to Hawaii, buy a house, and continue to pursue financial independence in a high cost of living area.
Cathleen is well on her way to Financial Independence and her story is just another example of how following the proven path, you can get money out of the way so you can lead your best life.
Links from the ShowBiggerPockets Money Facebook GroupBiggerPockets ForumsBiggerPockets Money Podcast 35 with Craig CurelopBiggerPockets Money Podcast 95 with Craig CurelopBiggerPockets Money Podcast 120 with Michael KitcesBiggerPockets Money Podcast 144 with Kirk ChisholmMr. Money MustacheBooks:Set For Life by Scott TrenchThe 4-Hour Workweek by Timothy FerrissThe Simple Path to Wealth by J L CollinsRaising Your Money-Savvy Family For Next Generation Financial Independence by Carol Pittner and Doug NordmanRich Dad Poor Dad by Robert KiyosakiConnect with Cathleen:Cathleen's Website
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Bigger Pockets holds Bigger Money 💪
One of the enjoyable sources for advice and motivation towards financial freedom! The hosts and guests share positive vibes and great ideas or stories.
As Mindy suggests: "If you want (and keep" bigger money, you need bigger pockets" 🤓