548 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

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    • 4.0 • 1 Rating

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.

    Finance Friday: Can I Comfortably Retire by 50 with My Current Portfolio?

    Finance Friday: Can I Comfortably Retire by 50 with My Current Portfolio?

    Want to retire early? You don’t have to wait until age sixty-five. With a few cash-flowing assets and smart money moves, you could accelerate your path to retirement and enjoy your riches much sooner than you thought possible!
    Welcome back to the BiggerPockets Money podcast! Derek has worked hard to build a $1.7 million net worth and a portfolio of six rental properties. The only problem? He wants to retire at age fifty. In this episode, Mindy and expert investor David Greene from the BiggerPockets Real Estate podcast work together to get Derek on the fastest path to early retirement. If he plays his cards right—redeploying some of his “lazy” home equity, increasing his cash flow, and starting a profitable business or side hustle—he could reach FIRE in just seven years!
    Are you wary of today’s sky-high mortgage rates? We share an investing strategy that allows you to buy real estate notes at a deep discount and potentially acquire properties that are worth so much more! You’ll also learn how to use your 401(k) retirement funds today without incurring tax penalties. Finally, you’ll hear about the power of starting a business and reinvesting your profits!
    Support today's show sponsor, BAM Capital, your path to generational wealth with premier real estate investment opportunities! 

    In This Episode We Cover
    Creative money strategies that will fast-track your path to early retirement
    How to leverage your 401(k) retirement funds today without tax penalties
    Boosting your cash flow by converting properties into short-term rentals
    How to start a business with low money (and where to reinvest your profits!)
    How to (potentially) acquire valuable rental properties at a HUGE discount
    When you should hire someone to help manage your real estate portfolio
    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
    How to Access Retirement Funds Early
    Check Out J Money’s blog, “Budgets Are Sexy”
    Check Out Nick Loper’s podcast, “The Side Hustle Show”
    Hear David on the "BiggerPockets Real Estate" Podcast
    BiggerPockets Money - Episode 443: The Entrepreneur’s Guide to FI: A Day in the Life of a Finance Blogger
    BiggerPockets Money - Episode 520: The BEST Side Hustles You Can Start in 2024 (Outside of Real Estate!)

    00:00 Intro
    01:45 $1.7M Net Worth!
    10:20 Derek’s Money Snapshot
    18:26 7 Years to FIRE
    29:37 Moving “Lazy” Equity
    39:42 Note Investing 101
    48:45 Starting a Business

    Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-539

    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

    • 1 hr 2 min
    Late Start, Early Retirement: The Huge Advantages of Investing Later in Life

    Late Start, Early Retirement: The Huge Advantages of Investing Later in Life

    Are you a late starter who wants to reach retirement (or early retirement)? Then we’ve got just what you need! We’re back with Bill Yount and Jackie Cummings Koski from the Catching Up to FI podcast as we share how to invest for retirement as a “late starter.” Did you know there are some serious advantages to investing later in life? Some of these advantages are so secret that even our hosts didn’t know about them! But today, we’re sharing them with you so you can achieve financial freedom on your terms!
    From top to bottom, we’re sharing everything you need to retire sooner—from the best retirement accounts to debating 401(k)s vs. Roth IRAs vs. HSAs and more! Worried about healthcare if you retire before you turn sixty-five? DO NOT put your retirement plans on pause because of this! With some smart healthcare saving and investing, you won’t have to worry about visits to the doctor’s office!
    But before you start investing, we need to get your spending in check. Bill shares how he went from paycheck to paycheck to exploding his savings rate by “downsizing” his spending, which makes reaching financial independence even easier! If you’re ready to retire, stick with us and follow these steps to a tee if you want to be financially free!
    Missed part one? Listen to it here!
    Support today's show sponsor, BAM Capital, your path to generational wealth with premier real estate investment opportunities! 

    In This Episode We Cover
    How much do you need to retire? Here’s the exact calculations we use
    The best retirement accounts to invest in that have substantial tax advantages
    Social Security and whether or not you can plan on receiving it when you retire 
    The “triple tax benefit” healthcare account that you’ll wish you knew about sooner
    How to “downsize” your life so you can invest more and retire faster 
    “Catch up” retirement investing and the investment accounts that late starters must take advantage of
    401(k)s vs. Roth IRAs vs. HSAs: Which should you invest in first?
    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
    Finance Friday: How to Get to Early Retirement Even Faster
    BiggerPockets 422 - The Late Starter’s Guide to Financial Independence (Even in Your 50s!) w/Bill Yount
    BiggerPockets Money 527 - Retired at 49 on an Average Salary after Getting a “Late Start” to FIRE w/Jackie Cummings Koski
    Want to Be a Guest on the BiggerPockets Money Show? Apply Here
    Catching Up to FI Podcast
    HSA – The Ultimate Retirement Account
    Open Social Security
    The Shockingly Simple Math Behind Early Retirement

    00:00 Intro
    01:19 Create a Simple Plan
    04:58 How Much Do I Need to Retire?
    09:18 What About Social Security? 
    16:27 Reducing Your Expenses
    19:59 Healthcare and HSAs
    33:28 Best “Catch Up” Investments 
    38:31 Roth vs. HSA vs. 401(k) 
    47:34 Investing Beyond Retirement Accounts 
    49:38 It’s NEVER Too Late! 

    Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-538

    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

    • 1 hr 5 min
    Late Start, Early Retirement: A Step-by-Step Guide to Get On Track to FI

    Late Start, Early Retirement: A Step-by-Step Guide to Get On Track to FI

    Got a late start on your retirement planning? Do you feel like you missed the boat and won’t be able to retire on your timeline? We’ve got good news for you in today’s episode—it’s never too late for retirement (and even EARLY retirement!). No matter what age you’re at, how much you have in the bank, and how much you make, you CAN retire on your terms, and our guests will prove it. The question is, will you follow through on their time-tested system for reaching retirement?
    Bill Yount and Jackie Cummings Koski from the Catching Up to FI podcast are here to show you that whatever your situation is, you can get on track for retirement. Bill and Jackie both were late starters, only taking retirement seriously decades after starting their working careers. Even with their “late start,” Bill and Jackie were able to massively multiply their net worths and retirement savings, allowing them to reach financial freedom on their terms.
    In today’s show, Bill and Jackie walk through the four steps that anyone can take to begin saving for retirement. You don’t need ANY money to take these initial steps, but doing so will change your entire financial future. Stick around for our next show as we get into the nitty gritty of retirement planning and put you directly on the path to retirement or early retirement!
    Support today's show sponsor, BAM Capital, your path to generational wealth with premier real estate investment opportunities! 

    In This Episode We Cover
    The four steps anyone can take to reach retirement 
    Why it’s okay to be a “late starter,” especially when it comes to retirement planning
    How to do a “backward budget” to quickly and easily see how much you’re spending 
    Why you MUST look back on the financial “lessons” you’ve learned to build wealth now!
    Getting clear on your goals and what you want to achieve so you can reach retirement
    The “trifecta of mistakes” Bill made and how even that didn’t stop his financial freedom journey!
    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
    Finance Friday: How to Get to Early Retirement Even Faster
    BiggerPockets 422 - The Late Starter’s Guide to Financial Independence (Even in Your 50s!) w/Bill Yount
    BiggerPockets Money 527 - Retired at 49 on an Average Salary after Getting a “Late Start” to FIRE w/Jackie Cummings Koski
    Want to Be a Guest on the BiggerPockets Money Show? Apply Here

    00:00 Intro
    01:14 Late Start, Early Retirement
    06:01 Before You Can Start
    08:06 “Backwards” Budgeting 
    17:12 Make a Plan 
    28:26 Acknowledge Your “Lessons” 
    33:19 Stick Around! 

    Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-537

    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

    • 42 min
    My Property Manager Robbed and Ghosted Me ($40K Stolen!)

    My Property Manager Robbed and Ghosted Me ($40K Stolen!)

    If you get your property management wrong, you could lose tens of thousands of dollars. A sketchy property manager could take all your rent and run, leaving you with the bills and no hope of recovering your long-lost rent checks. That’s precisely what happened to today’s guest, a seasoned real estate investor who’s even looked up to as an expert in the industry. Even he made a sizable property management mistake, and in this episode, we’re trying to help you avoid the same fate.
    The BiggerPockets Podcast Network is bringing you a crossover episode with the Real Estate Rookie podcast’s Ashley Kehr and the BiggerPockets Money podcast’s Scott Trench. Scott is not only the host of BiggerPockets Money but also the CEO of BiggerPockets. And today, he’s sharing every painful detail about how he lost over $40,000 by hiring a bad property manager. This IS an avoidable mistake, but some easily overlooked red flags could put you in the same position as Scott unless you’re very careful.
    Scott shares the entire story and gives the top red flags to look out for. He’ll explain why he DOESN’T give his whole portfolio to one property manager, why you MUST set communication standards from the start, the questions EVERY investor should ask before hiring a property manager, and the fees you should refuse to pay the next time you outsource your property management. Need a property manager? We’ll share the best tool ANYONE can use to find a property manager TODAY!

    In This Episode We Cover
    Deadly property management red flags and signs you should run from a property manager
    Why you never, EVER give your entire portfolio to a single property manager/property management company
    Simple questions to ask that immediately show if a property manager is legit
    Negotiating fees and why Scott is okay with paying a higher monthly rate
    Communication expectations and what a property manager should be sending you EVERY month
    The easiest way to find a great property manager wherever you invest
    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
    Want to Self-Manage Your Rentals Instead? Grab the New Book, “Self-Managing Landlord”
    Ask Other Investors Your Property Management Questions on the BiggerPockets Forums
    Past Episodes Mentioned in Today’s Show:
    Real Estate Rookie 59 - Rookie First-Time Home Buyer Questions Answered by Scott and Mindy
    Real Estate Rookie 200 - Scott Trench’s 10-Step Checklist to Buy Your First Rental Property
    Real Estate Rookie 401 - Boost Your Cash Flow in 2024 with These “Self-Management” Tips
    BiggerPockets 513 - The “Red Flags” of Investment Fraud from a Former $3.8M Ponzi Scheme Manager
    Connect with Ashley on BiggerPockets
    Connect with Scott on BiggerPockets

    00:00 Intro
    01:20 Hiring the Property Manager 
    03:37 Things Start Going Wrong 
    06:12 Losing $40K!
    09:32 Property Manager Red Flags 
    15:39 Questions You MUST Ask
    23:34 Negotiating Fees 
    30:05 Asset Type Matters! 
    34:54 Communication Expectations 
    37:29 Vetting for Legitimacy 
    43:16 Find a GREAT Property Manager 

    Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-536

    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

    • 53 min
    Achieving FIRE in Her 40s By Taking "Calculated" Risks

    Achieving FIRE in Her 40s By Taking "Calculated" Risks

    What would it take for you to achieve financial freedom? Now, think about what it would take for you to achieve it for your family. Many of us have parents we’ve seen work day in and day out, providing for us when it meant putting their dreams on the back burner. But what if you could repay your parents for all they’ve done for you, helping them retire and ensuring they can truly live the life they love without worrying about money? That’s exactly what today’s guest did for her mother and herself.
    After her parents divorced when she was a teenager, Delyanne Barros began what seemed like a two-decade-long non-stop grind. Fearing what would happen to not only herself but her family if she didn’t provide, Delyanne chose to go to law school to not only help those in need but also bring home a steady paycheck that would support her and her mother. After realizing that the nine-to-five grind wasn’t what she thought, Delyanne began searching for a way to get into a better financial position. As a result, she found the debt-free and the FIRE movements.
    Now, only in her early forties, she’s already started a business that brings in millions, retired her mother, achieved financial freedom, and did it all just within six years of finding the FIRE movement. Her biggest tip for success: Take a calculated risk and bet on yourself! If you want to find FIRE like Delyanne did, don’t skip this one!

    In This Episode We Cover
    When it’s worth it to quit your “dream job” to start your own business and bet on yourself
    Supporting your family and retiring your parents BEFORE they’re sixty-five years old
    Why even lawyer salaries often can’t afford you the life you want to live
    Paying off huge student loan debt and why you SHOULD invest before you’re debt-free
    The importance of investing EVEN when the market is dropping fast and you’re feeling fear
    Why you DON’T have to be self-employed to achieve FIRE (but you DO need to take risks)
    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
    What Is the FIRE Movement?
    How to Calculate the Risks Before Investing
    The Mad Fientist on Early Retirement in Your 40s and 4% Rule Updates
    From Extreme Poverty to DIY Wealth and 2 Full-Time Incomes w/The She Wolfe of Wall Street

    00:00 Intro
    01:10 Supporting Her Family as a Teen 
    07:34 Why Law School? 
    14:15 Finding FIRE and Switching Gears 
    21:50 Watching the Market Crash
    27:37 Quitting Her High-Paid Job 
    35:35 Can W2 Workers Achieve FIRE?
    39:19 Retiring Her Mom 
    41:44 Best FIRE Advice
    42:54 Connect with Delyanne!
    43:24 Take a Risk! 

    Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-535

    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

    • 53 min
    Coast FI at 24 and a $99K Net Worth Thanks to a Few Years of Pure Hustle

    Coast FI at 24 and a $99K Net Worth Thanks to a Few Years of Pure Hustle

    Could Coast FI be your BEST path to financial independence? Maybe you don’t want to retire early—not yet, at least. Hustle for a few years, invest your money, and watch it snowball instead! This twenty-four-year-old saved nearly $100,000 with this strategy, and in today’s episode, she’ll show you how to do the same!
    Emma von Weise was determined to take control of her finances at a very early age, getting her first job at just fourteen years old and saving money at every opportunity. This allowed her to not only escape college debt-free but also build a $99,000 net worth, a figure that will make her Coast FI until retirement—which isn’t on the radar anytime soon! Using her newfound financial freedom, Emma has built her “dream” life by working in a field she loves and taking plenty of time off to travel.
    In this episode, Emma shares about all of the different jobs and side hustles she took up to supercharge her savings, as well as several creative “hacks” she used to help fund her college tuition. She also talks about some of the pivotal moments that shaped her views on personal finance, such as discovering the power of compound interest and finding an entire support system through the FI community!

    In This Episode We Cover
    How Emma became Coast FI by twenty-four and built a $99,000 net worth
    Creative ways to fund your college education and escape debt-free
    The real value of buying used cars from private owners (and where to find deals!)
    How to create a fun and fulfilling life you don’t want to retire from
    How to fast-track your fortune using the power of compound interest
    Making your money work harder for you after stockpiling cash
    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 Episode 474 - Mindy and Scott’s Favorite Sleepaway Camp for FIRE Chasers
    BiggerPockets Money Episode 449 - Coast FI in 4 Years: Cutting Expenses, Doubling Your Income, & HUGE Savings
    BiggerPockets Money Episode 323 – Coast FI: The Calculated Way to Retire Early WITHOUT Giving Up What You Love w/Jessica from The Fioneers
    Learn More About EconoMe Conference

    00:00 Intro
    01:18 Working & Saving at 14!
    07:32 Taking Control of Her Finances
    10:52 Buying Used Cars
    15:32 Creative Ways to Fund College
    23:28 Learning to Invest
    30:12 Joining the FI Community
    37:48 $99K Net Worth at 24!
    45:07 The Power of Coast FI

    Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-534

    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

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