260 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
    • 4.6 • 2.4K 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.

    Finance Friday: Self-Employed Revenue, Health Insurance, and Hiring

    Finance Friday: Self-Employed Revenue, Health Insurance, and Hiring

    It takes a leap of faith to leave a W2 job and wander through the hills and valleys of self-employment. With the right skill set, time management, and perseverance, you can come out more profitable (and happier) than you were originally at your old job. But, once you succeed, it may be hard to slow down the self-employment train, and your side-gig could become a full-on business, with the need for employees.




    TJ has put herself in a phenomenal position, both financially and income-wise. She left her job to become a full-time consultant but knows she won’t be able to expand without hiring her first employee. Her business would need an employee to bring in more revenue, BUT she needs more revenue to bring on an employee. What would you do in this situation?




    Scott and Mindy have both spent time outsourcing and hiring before. They help TJ develop a roadmap to getting her first hire on board while keeping crucial revenue in the business. This episode also dives into self-employed health insurance, project management, and hiring a junior position that can grow into a senior in little time. 




    In This Episode We Cover

    Why it’s imperative to keep your costs low while trying to run a business 

    What to do once you’ve hit your max capacity for work at your business 

    Whether or not now is the time for you to hire your first employee

    Fully mapping out the cost of a full-time vs. part-time worker on your team

    Putting together a business plan that allows you to forecast your business’s future 

    Health insurance while self-employed and why an HSA plan may be your best bet

    And So Much More!




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    • 52 min
    Is College Worth the Cost? This 30,000 Variable Study Says "Sometimes..."

    Is College Worth the Cost? This 30,000 Variable Study Says "Sometimes..."

    Is college worth it? For the first time in history, we may have a definitive answer to whether or not your specific degree and school choice provides a positive ROI. We know that ROI isn’t the only thing that matters when choosing a degree, but when looking at higher education through a financial independence lens, it’s definitely the highest value.




    Looking through census, employment, and Department of Education data is number crunching crusader, Preston Cooper. Preston and his team over at The Foundation for Research on Equal Opportunity put together the most extensive research on college degree ROI ever created. Preston’s findings allow you to parse through over 30,000 degrees and school choices so you (or your child) can make the best decision on where to get a bachelor's degree.




    Preston discusses the discrepancies between nonprofit and for-profit university degrees, whether or not high-cost schools equal a higher payday through life, and why even going to Harvard doesn’t secure a high ROI. Want to know the true value of your degree? Tune in and check out Preston’s full study!




    In This Episode We Cover

    How much you could benefit, in general, from getting an undergraduate degree

    The degrees that have the highest lifetime ROI

    Degrees that offer little-to-no or negative financial benefit

    Whether investing in real estate or a college degree is more worth it 

    The biggest criticisms of Preston’s study and how he combats them 

    Dave, Mindy, and Scott’s ROI on their respective degrees 

    And So Much More!




    See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

    • 1 hr 18 min
    Finance Friday: Laying a Strong Financial Foundation in Only a Few Years

    Finance Friday: Laying a Strong Financial Foundation in Only a Few Years

    Everyone knows that tech salaries tend to be on the higher end. In tech, you could be working as an engineer, programmer, or statistician, like today’s guest Matthew. But, Matthew never planned to go to school for this type of work. Half a decade ago, Matthew was wearing a chef’s apron, working forty to sixty-hour weeks, making slightly above minimum wage. He loved the work (and the food) but realized he couldn’t keep living with the long hours, low wages, and high stress.




    Mathew went back to school to study statistics and landed a job in tech, which he’s just recently moved on from, and accepted a far higher salary. This all sounds like good news, so what exactly is Matthew having trouble with?




    After maxing out many of his retirement accounts, Matthew is wondering where else he should be putting his money. He’s already saving a significant amount every month, thanks to his frugal lifestyle, but wants to be sure he’s standing on a strong financial foundation. Should he look into rental properties, taxable brokerage accounts, or higher-risk assets like tech stocks and crypto? If you’re lucky enough to have a little extra change left over at the end of every month, you may be in Matthew’s position too!




    In This Episode We Cover

    Changing careers even after you’ve been working in the industry for years

    What to do if you’re young and don’t know which field to study 

    Keeping your expenses low, regardless of how well your job pays

    Starting side businesses that can help you float expenses 

    Investing in after-tax retirement accounts vs. investing in post-tax retirement accounts

    Live in flip tips from the master herself (Mindy Jensen) 

    Calculating out your estimated retirement nest egg using the ‘Rule of 72’

    And So Much More!




    See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

    • 1 hr 6 min
    The #1 Reason Side Hustles Fail to Become Businesses

    The #1 Reason Side Hustles Fail to Become Businesses

    You’ve heard the old statistic “nine out of ten businesses fail”, but why is that? If there are so many people willing to risk their livelihood to pursue a great idea, why do so many end up broke and back at a job? Gabe Nelson, certified financial planner and business advisor, has an idea.




    Gabe advises many business owners and solopreneurs through building their businesses with maximum cash flow and minimum time commitment.




    A couple of decades ago, Gabe was in the position many entrepreneurs are in today. He was working seven days a week, almost living at the office, doing anything he could to build his business. Once his daughter was born, he knew he had to take a step back from the seven-day workweek. Then, his second and third daughter were born, forcing him to automate, delegate, and eliminate every unnecessary task on his plate. 




    Now, with a thriving firm, Gabe knows what does (and doesn’t) work for solopreneurs, and the systems they need to implement now to secure a happy life tomorrow. 




    In This Episode We Cover

    The #1 thing you should do before you start a business or side hustle 

    Keeping your relationships healthy while working long hours at your business

    Outsourcing when you’re ready and growing a self-operating team 

    Laying the groundwork of communication between you and your partner 

    Managing cash flow in your business and keeping a healthy safety reserve

    Trusting the “whispers” that your gut tells you about your business

    And So Much More!




    See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

    • 53 min
    Finance Friday: I Just Got a Big Raise, What Should I Do With the Money?

    Finance Friday: I Just Got a Big Raise, What Should I Do With the Money?

    Your late 20s through early 30s can be a financially troubling part of life. You aren’t making the most money you ever will, but you’re tackling big expenses. A wedding, a down payment, and trying to max out retirement accounts can put you in a financial tizzy. But, it doesn’t have to be so complicated, especially if you stick to a scalable investment strategy.




    Today’s guest Louise is in this position. She recently changed employers and found herself with a big uptick in monthly income. She has plans on the horizon to marry her girlfriend but knows this will come at the cost of many thousands of dollars (rings, dresses, etc.) She’s also looking at buying a primary residence, but is already familiar with the home buying experience (she has two rentals!) Louise has a plan to hit FI (or at least coast FI) by age 40 and wants to know the best way to optimize her finances to do so. 




    Scott and Mindy have a healthy debate over 401ks, Roth IRAs, refinancing rental properties, and combining finances as partners, in order to get Louise in the best position possible to tackle her financial goals. 




    In This Episode We Cover

    Why switching jobs may be the ultimate hack to getting a better salary 

    Whether you should max out your Roth, 401k, Roth 401k, or HSA

    Getting a cash-out-refinance instead of stockpiling cash 

    Whether or not paying off a rental property mortgage is a good idea

    Renting vs. buying when living in an expensive market 

    Combining finances as a couple and having the ever-important “money date”

    And So Much More!




    See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

    • 1 hr 25 min
    Turning 31 Years of Financial Disaster into Ultimate Freedom w/ Alex Felice

    Turning 31 Years of Financial Disaster into Ultimate Freedom w/ Alex Felice

    There are few people on this earth that can make Mindy laugh as much as Alex Felice. He’s been around the block with BiggerPockets a few times, appearing on episode 301 of the BiggerPockets Real Estate Podcast. Alex has a growing rental property portfolio, a flipping business, and is a professional photographer/videographer. But, beneath his success, was thirty-one years of financial struggle.




    Alex was taught financial skills growing up. The only problem: he didn’t listen to any of the advice he was given. He joined the Army without any skills, and as soon as he got out, he immediately bought a new car with a high monthly payment. He then was hit with a DUI, forcing him to really think what his life would turn out like unless he made a change.




    He needed cash flow but didn’t want to go out and get another job, so he settled on investing in real estate. It was important for Alex to have a “get rich slowly” type asset, one with stability that could take care of him well into retirement. Now, he’s amassed an impressive portfolio, with some large commercial deals and flips on the side. Alex spends his days investing, working on his skills, traveling, and really doing whatever he wants!




    In This Episode We Cover

    Why self-sustainability is more important than a big paycheck 

    Using “radical responsibility” to mold your perfect life and never falling into the “it will be okay” trap

    Buying foreclosures and BRRRRing properties to minimize cash needed for investing

    Having control over your money so you have ultimate financial freedom

    Why you MUST surround yourself with like-minded, successful individuals 

    Focusing on your passions (regardless of whether they pay well or not)

    And So Much More!




    See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

    • 1 hr 18 min

Customer Reviews

4.6 out of 5
2.4K Ratings

2.4K Ratings

Phil_CostaCapital ,

The hosts are great!

Scott Trench’s book changed my life and the way to look at building wealth. He does such a good job on the podcast breaking down guests’ finances and give a very simple method of forward to achieving their financial goals. His logical analysis has helped me build confidence that I can do it as well. Mindy adds so much energy and positivity to the podcast which is a great contrast to Scott’s direct and actionable opinions. I always look forward to tuning in and listening to you two!

Ds101565899 ,

Underestimating

After many Financial Fridays shows of them accessing income/expenses and hearing things like families of 5 with net worths over 500k yet only having to allocate $400/month to groceries and $50-$100 to eating out, I’m like, are these people in food stamps because how is this possible? And then, “let’s retire in 3-5 years!” with no mention of 3 kid’s future college tuition in the budget. I must be confused or just living in a different reality.

TX9174 ,

Replace Mindy

I love hearing about other people’s stories and inputs regarding how to achieve FI/RE. My dislike is Mindy, her voice is so high pitched, she has many annoying comments, and talks over/down to guests; just cannot actively listen. I listen for the guest backstory/situation not for Mindy’s constant anecdotes/snaky comments. I was really getting into this podcast but couldn’t continue since she is just so unlikable. I am sure she is a great person and maybe she can do something else at BP.
Scott tends to stutters so much (hint all great host work on their skills).
Also there are too many commercials!
Please get a new host, a great example is Robert Lenard (Millennial Investing) or Brandon (Mad Fientist)

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