Personal finance is easy, right? You read a blog or listen to a podcast and just follow everything they did. Easy, Peasy, Lemon Squeezy.
Except that’s not how the world works. What brought success to one person may bring misery - and ultimately failure - to someone else. Personal Finance is P-E-R-S-O-N-A-L!
Of course that said, there are some general principles that apply to everyone: 

Spend less than you earn

Invest wisely

Increase your income

Track your spending

Be money conscious

Chris Mamula, Brad Barrett and Jonathan Mendonsa are the authors of ChooseFI: Your Blueprint to Financial Independence, a new book for ChooseFI Publishing. They join us today to share the basics of Financial Independence, and to remind us that Financial Freedom is available for everyone.
Topics:

What their book is all about

The framework they applied to the concept of financial independence



Deconstructing rules and create new mindset

Things they questioned that started to fall apart

How to frame the conversation to attract and get more people interested on financial independence

The concept of spending less money 

Principles on how to cut your expenses


Learn the rules of money and math


How to earn more income


How they approach on investing


The final step towards financial independence

And SO much more!

Links:

Mr. Money Mustache

Mad Fientist

YNAB

Mint

Frugalwoods

BiggerPockets Money Podcast 10: Designing a Frugal But Luxurious FI Life by Age 32 with Liz Thames

BiggerPockets Money Podcast 86: Choosing the Right Investment Type for Your Goals with David Stein

Budgets Are Sexy

Twitter - Dad Jokes

Scott's Instagram

ChooseFI

ChooseFI Podcast

Eat The Financial Elephant

Can I Retire Yet?


      
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92: An Introduction to Financial Independence with Chris Mamula, Brad Barrett and Jonathan Mendonsa

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.

Education

Training

Language Courses

Higher Education

K-12

Educational Technology

Business

Investing

Careers

Management & Marketing

Business News

Shopping

Is a six-figure salary enough to achieve FIRE? If you’re working towards financial independence, you know that any extra money at the end of the month can help propel you to your goals faster, but with inflation eating away most, if not all, of your paycheck, what do you do? If you want to reach early retirement, do you need a massive salary to save you from the high cost of rent, food, gas, and other everyday essentials? Or, can you easily retire with a $100K/year incomeif you make the right moves? Let’s find out!
Today, Scott and Kyle are reviewing some of the hottest headlines in the world of personal finance and giving you their honest opinions. First, we talk about whether or not a six-figure salary is enough to achieve the “American Dream,” and if it isn’t, what YOU can do to make the most of that money. Then, we venture to a debate that everyone has an opinion on: should you withdraw from your retirement reserves to buy your first primary residence? Is this a smart money loophole or a move that could cost you in the long run?
How much do you need to retire? According to Americans, the figure is close to $1.5M, but is this actually how much a smart saver or spender would need? Plus, we talk about the one generation on a surprisingly great track to wealth in retirement (it’s NOT the boomers!). Finally, are you fed up with guilt tipping? Don’t want to pay an extra quarter of your bill every time you go out to eat? Join the club because we’re discussing how tipping is getting out of control.

In This Episode We Cover
Whether or not a $100K/year income is enough to achieve the “American Dream”
Using retirement funds to pay for your primary residence (when NOT to do this)
How much Americans need to retire, and ways to retire with even less
The one real estate investment ANY young American should be making today
Why younger generations are on track to retire rich and achieve FIRE
Tipping culture and what percentage we press when the payment screen turns around
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
Listen to All Your Favorite BiggerPockets Podcasts in One Place
Apply to Be a Guest on The Money Show
Podcast Talent Search!
Money Moment
Find an Investor-Friendly Agent in Your Area
Find Investor-Friendly Lenders
Grab the Personal Finance Classic, “Rich Dad Poor Dad”
BiggerPockets Money Podcast 344 - Rethink Social Security: Myths, Benefits, and Clearing Up Misconceptions
Articles from This Episode:
$100K/Year
Withdrawing from Retirement
How Much to Retire
Gen Z’s House Hacking
Guilt Tipping

Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-523
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523: Americans Say THIS Is How Much You Need to Retire (More Than You'd Think)

Moving is hard. But could relocating to a low-cost-of-living area help you lead a more fulfilling life and achieve financial freedom? As today’s guest came to find out, the benefits of living in an affordable area often outweigh the glitz and glamor of a big city!
Welcome back to the BiggerPockets Money podcast! Today, we’re chatting with Allison Irby Vu, a financial planner who made a huge cross-country move in pursuit of a better financial future. With roots planted in Washington, D.C., Allison hadn’t considered moving until she stumbled across a program that offered her $10,000 to relocate to Tulsa, Oklahoma! Little did she know that this MAJOR life change would not only improve her financial situation but also allow her to spend more time with her son and tight-knit community.
In this episode, you’ll hear all about Allison’s journey from her hometown to Tulsa. She shares how she went from living paycheck to paycheck (despite earning close to six figures!) to having an abundance of time and money for the things she values most. Allison also highlights the pros and cons of living in an area like Tulsa and how remote workers can plan their next big move!

In This Episode We Cover
How to reach financial freedom by moving to a low-cost-of-living area
Getting PAID to move to a more affordable city (and how to qualify!)
How to pay off large amounts of debt as quickly as possible
Creating a budget that allows you to spend money on the things you value
How to take FULL advantage of your remote job (and live anywhere in the world!)
The biggest pros and cons of moving to an area like Tulsa, Oklahoma
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
BiggerPockets Money 11 – Designing a Frugal But Luxurious FI Life by Age 32
BiggerPockets Money 500 – FIRE Advice from Codie Sanchez, Ramit Sethi, Money with Katie, and More!
Learn More About the Tulsa Remote Program

Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-522
Learn more about your ad choices. Visit megaphone.fm/adchoices

522: How to Get PAID to Live in an Affordable City & Fast-Track Financial Freedom

Could real estate investing help you reach financial freedom much sooner than you thought possible? Today’s guest had his world turned upside down by one tragic incident, but he was able to quit his W2 job, pivot to real estate, and fast-track his journey to FIRE!
Today, we’re chatting with technology instructor turned full-time real estate investor Keith Nugent. After a skydiving accident rendered him unable to perform his previous job duties, Keith knew he needed a new path to financial independence. Fortunately, he discovered real estate at the perfect time. Taking advantage of the fallout from the 2008 housing market crash, Keith started loading up on rental properties—often buying them for pennies on the dollar. In just twelve years, he had not only achieved his goal of thirty cash-flowing units by 2020 but also added an additionalten units to his portfolio!
Thanks to real estate, Keith now has a career that fully accommodates his disability and will allow him to retire early. In the meantime, he enjoys his newfound financial freedom by traveling the world and spending time with his FIRE-bound friends. In this episode, Keith offers practical tips on how to start investing in real estate—from choosing your market to buying your first rental property and more!

In This Episode We Cover
How Keith became a full-time real estate investor after a tragic skydiving accident
How to replace your W2 income and achieve financial freedom with real estate
Why time in the market is MORE important than timing the market
How to determine how much cash flow you need to support your retirement
Why you NEED an estate plan and how to decide who inherits your assets
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 330 - The Ultimate Teen Money Hack for Parents
Money Podcast 397 - Estate Planning, Wills, & What to Do NOW to Protect Your Heirs
Grab Your “Family Emergency Binder”

Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-521
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521: Full-Time FIRE and Traveling the World…All Thanks to Rentals!

The best side hustles can put some extra cash in your pocket, help you leave your W2 job, or even launch you toward FIRE. If you’re looking to make money in ways other than real estate investing, you don’t want to miss this side hustle special!
Nick Loper, founder of Side Hustle Nation and host of The Side Hustle Show, has been building businesses since he was a teenager. From lucrative digital assets to service-based ventures, Nick has done it all, and today, he’s bringing some fresh ideas for you to try. As you’re about to learn, these fledgling businesses come in all shapes and sizes. Some take years to nurture before you reap any reward for effort, while others allow you to start earning immediately. In any case, you need to choose one you’re interested in and stick with it if you want to see results!
In this episode of the BiggerPockets Money podcast, Nick dives into some of his favorite side hustles—many of which you can start TODAY with little to no money and minimal time. You’ll learn whether it’s still possible to build amoney-making blog in 2024, as well as how to make extra income by renting out assets like inflatables, hot tubs, and vending machines!

In This Episode We Cover
Nick’s favorite low-money side hustle ideas (not named real estate!)
How to turn your own side business into a money-making machine
Creative ways to earn royalties from YOUR original works or ideas
How to build a digital asset that generates income for years to come
Why you MUST follow the “rule of one hundred” with every new side hustle
The non-digital assets you can rent out for a HUGE profit
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 Anyone Can Easily Make Extra Money Using Side Hustles with Nick Loper
Finance Friday: Pay Off Debt, Invest in Real Estate, or…Buy Vending Machines?
Make an Extra $100/Day with These Work-From-Home Side Hustles
Hear Nick on “The Side Hustle Show”

Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-520
Learn more about your ad choices. Visit megaphone.fm/adchoices

520: The BEST Side Hustles You Can Start in 2024 (Outside of Real Estate!)

Want to know how to avoid capital gains on your next home sale? If you tune in, you may dodge a quarter-of-a-million-dollar bullet (or more!). What about investing in one of the most tax-advantaged accounts that almost EVERYONE should have but most people don’t? What do you do when a family member asks to borrow money from you but has a bad track record with keeping their personal finances together? We’re getting into it all and more on this finance FAQ with Amanda and Scott!
We get a ton of personal finance questions through the BiggerPockets Forums and our Facebook Page, so we decided to round up some of the most common ones and answer them for you. First, we’re talking about how to dodge capital gains tax when selling your home. Then, a concerned listener asks whether they should take out a loan on a family member’s behalf. A high-income earner wants to know whether renting or buying is their best bet, and we share whether paying off your mortgage early is a mistake!
Got a medical expense coming up, or just want to boost your retirement investing? We’ll answer whether an HSA (health savings account) beats an FSA (flexible spending account)—but make sure you get this one right. If you invest in one of these accounts the wrong way, you’ll be throwing money away. Finally, a debt-free chaser asks whether they should use their emergency reserves to pay off debt or keep slowly slogging away with the snowball method.

In This Episode We Cover
How to avoid capital gains tax when selling your primary residence
HSAs (health savings accounts) vs. FSAs (flexible spending accounts)
Whether or not to use your emergency fund to pay off credit card debt 
Why you may want to reconsider loaning a family member money 
Whether to buy or rent in today’s housing market (EVEN with low money down)
Pay off your mortgage early or invest the rest of your money?
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
Listen to All Your Favorite BiggerPockets Podcasts in One Place
Apply to Be a Guest on The Money Show
Podcast Talent Search!
Money Moment
Find an Investor-Friendly Agent in Your Area
Find Investor-Friendly Lenders
Fidelity Investments
She Wolf of Wall Street Website
Emergency Fund: How Much Do You Really Need in 2024?
How to Pay Off Credit Card Debt FAST ($30K+ in 1 Year!)
Renting a Home Is Financially Better Than Buying—Wait, What?!

Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-519
Learn more about your ad choices. Visit megaphone.fm/adchoices

92: An Introduction to Financial Independence with Chris Mamula, Brad Barrett and Jonathan Mendonsa

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