BiggerPockets Money

With 2024 right around the corner, it’s time for a final year-end tax planning push! There are all kinds of ways to pay less to the IRS, and today’s guest is here to help you save as much money as possible!

Welcome back to the BiggerPockets Money podcast! Today, we’re joined by certified public accountant and financial planner Sean Mullaney. In this episode, Sean delivers a thorough breakdown of everything you should be doing to lower your tax burden for not only 2023 but also over your entire lifetime. While there are many moves you can make before this year’s filing deadline, you don’t have to make them all at once. Sean shares how most tax moves fall into one of three “buckets”—moves that should be handled urgently, by year-end, or in early 2024.

Whether you’re rushing to tie up loose ends in 2023 or looking to maximize retirement savings, Sean offers a variety of helpful tax tips for those in different phases of life. You’ll learn how to reap the tax benefits of donor-advised funds, how to time a Roth conversion, and how to avoid giving the IRS a large interest-free loan!

In This Episode We Cover

Tax moves to make immediately, by year-end, and in early 2024

New tax-saving strategies to start implementing next year

Lowering your total lifetime tax burden with the Roth conversion strategy

How to get a tax deduction and avoid capital gains tax with a donor-advised fund

The BEST retirement accounts for entrepreneurs and self-employed individuals

How to choose the perfect health insurance plan for you in 2024

And So Much More!

DISCLAIMER: "The discussion is intended to be for general educational purposes and is not tax, legal, or investment advice for any individual. Scott, Mindy, BiggerPockets, and the BiggerPockets Money podcast do not endorse Sean Mullaney, Mullaney Financial & Tax, Inc. and their services."

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Money Moment

What You Need to Do NOW to Pay Fewer Taxes in 2024

I’m Over Paying Taxes, So Here’s How I Plan to Significantly (and Legally) Lower My Liability

The FI Tax Guy

Click here to check the full show notes: https://www.biggerpockets.com/blog/money-477

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Nasty Gal went from an eBay side hustle to a business doing $100M in sales in under a decade. Behind it was the most famous “Girlboss” in America, Sophia Amoruso. She had no business experience, management training, leadership coaching, background in logistics, business financials, or running an online shop. Somehow, she built a business to heights few entrepreneurs ever reach, owning an extremely profitable clothing empire and finding herself on the cover of Forbes. But then, Nasty Gal went bankrupt. What happened?

Sophia joins us on the show today to explain it all. She’ll share her full financial story, which included watching her parents go bankrupt, eventually selling her business, and seeing it suffer the same fate. From entrepreneurial mistakesto risks Sophia took that led her to massive financial success, Sophia has seen both success and failure, and she has priceless insight to offer any aspiring entrepreneur or investor.

If you want to build a business, invest in one, or start a profitable side hustle, Sophia can help. She’ll also uncover what led to Nasty Gal’s downfall, the pressure “Girlboss” put on her, and why growing too fast can kill your financial future.

In This Episode We Cover

How Sophia turned a thrifting side hustle into a nine-figure business 

Hiring your first employee and why you DON’T want to over-scale your side hustle

Venture capital, investing in businesses, and when you should give up equity

Going bankrupt and rebuilding yourself after a financial failure

What Sophia is investing in NOW that’s helping her build even greater wealth

Advice for new entrepreneurs and anyone who wants to sell online

And So Much More!

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Network with Other Investors on The Path to FIRE Through the BiggerPockets Forums

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Mindy on BiggerPockets

Scott on BiggerPockets

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Money Moment

Here’s What It Takes to Succeed as an Entrepreneur

Building a Massively Profitable Business Around Your Passions

Click here to check the full show notes: https://www.biggerpockets.com/blog/money-476

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You want to know how to get rich. But you probably don’t want to deal with the tenants, toilets, trash, and constant headaches of investing in real estate. And even as the world’s biggest resource for real estate investors, we get it. The landlord lifestyle isn’t for everyone. Thankfully, real estate isn’t the ONLY way to get rich. There are five other time-tested ways to build wealth that don’t involve 2 A.M. tenant phone calls.

In today’s show, Mindy and Scott tag team the five best ways to build wealth without ever buying a rental property.These methods work for almost anyone, no matter how much (or how little) money you make or have in the bank. Some of these methods are more passive than others, requiring just minutes a month to start building wealth, while others can explode your income but require much more time.

But we’re not just giving you some experimental investment methods to try. Both Mindy and Scott have used most, if not all, of these methods to become rich themselves, and if you incorporate ANY of these methods into your life in 2024, there’s a good chance by this time next year, you could be way wealthier!

In This Episode We Cover

The five ways to get rich WITHOUT investing in real estate 

The four “levers” of wealth you can pull to level up your financial lifestyle

“Boring” businesses and HUGE investment opportunities for those in their 20s, 30s, or 40s

Job hopping and why you could be underpaid and overworked at your current role

The investment accounts that can expedite your path to becoming a millionaire

The super passive investment anyone can use to build massive wealth in the background

And So Much More!

Links from the Show

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Mindy on BiggerPockets

Scott on BiggerPockets

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Money Moment

Past Episodes Mentioned in Today’s Show

Index Funds

Financial Mechanic

David Greene (1st Episode)

David Greene

“Boring” Businesses

Liquor Store Investment

Franchising

Side Hustles

Nick Loper (Side Hustle Nation)

Loan Signing Side Hustle

Click here to check the full show notes: https://www.biggerpockets.com/blog/money-475

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Deep in the forest, a secret financial independence summer camp is being held. Multiple times a year, all across the country, millionaires, financial freedom achievers, and those still on or just starting their FIRE journey meet up for a weekend like no other. Those who have achieved FIRE in their 30s, 40s, and 50s give advice, tips, and tactics to those who want to leave their jobs behind and see what a life of financial freedom feels like. It’s such a can’t-miss event that Mindy and Scott are regulars there too!

Of course, we’re talking about CampFI, where you can roast marshmallows, talk about Roths, scheme with other investors on the best way to make millions, or simply meet the financial independence heroes you’ve only seen online. Throughout the year, these camps are held in every corner of the country, and today, you’ll get to hear exactly what happens around the campFIre.

For that, we brought on CampFI founder Stephen Baughier to tell us more about this exclusive financial independence experience and his own journey to FI. After a tough wake-up call in his mid-30s, Stephen made it his goal to reach financial freedom, but not on the fast-paced schedule most FIRE chasers think of. Hear how Stephen was able to downsize his life, cut his spending, and have ultimate time freedom without having to work his tail off!

In This Episode We Cover

The one thing that made Stephen reevaluate his financial decisions in life

Downsizing, cutting spending, and how to reach financial freedom faster

Advice from millionaires and those who’ve already achieved FIRE

CampFI costs, activities, events, and why you MUST attend 

Why you can (and SHOULD) slow down your path to FIRE 

Scott’s accidental run-in with a fireside cult-like chanting circle

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

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Mindy on BiggerPockets

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Podcast Talent Search!

Money Moment

Past Episodes Mentioned in Today’s Show:

Doug Nordman

Mr. Money Mustache

CampFI Website

Click here to check the full show notes: https://www.biggerpockets.com/blog/money-474

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The 2023 holiday shopping season is here, and you know what that means…gifts, trips, and LOTS of spending. If you love the holiday season but are more into frugal festivities, we have just the episode for you. Whether you're a budget-conscious stocking stuffer or a buy-everyone-an-iPhone gift giver, we've got some simple tips that'll help you save hundreds or thousands this holiday season.

To help us build out our list of holiday hacks, we brought on Chris Hutchins from the All the Hacks podcast to give us his best tips for staying on budget this holiday season. From saving hundreds of dollars per person per flight to crazy cash-back browser extensions, how to buy fewer gifts while making everyone happy, and the best board game ever, Chris shares his favorite ways to spend less during the season and his listeners' favorite frugal gifts.

Even if you're not much of a holly, jolly, merry type of person, Chris drops some incredible cost-saving knowledge YOU can use at ANY time of the year to keep thousands of more dollars in your pocket!

In This Episode We Cover

How to save hundreds of dollars on your holiday flights with this one timing hack

Why fewer gifts can lead to happier holidays (and how to convince your family of it)

Crazy cash-back opportunities and sites that'll reward you for gift-giving

How to save 30%-40% on home renovations and repairs using this one coupon website

The gifts you can and should buy used (NO ONE will notice)

Chris' 2023 holiday gift guide for the frugal gift giver

And So Much More!

Links from the Show

BiggerPockets Money Facebook Group

BiggerPockets Forums

Finance Review Guest Onboarding

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Mindy on BiggerPockets

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Podcast Talent Search!

Money Moment

All The Hacks Podcast

Give the Gift of Wealth-Building Knowledge with BiggerPockets' Books

All the Money Hacks We WISH We Had Known About

Cashback Monitor

Cooking at Home

Crown & Paw (Pet Portraits)

DeleteMe

Die with Zero

Google Flights

Google Shopping

I Will Teach You To Be Rich

Keepa

Mercari

Outlive

Rakuten

Saven Deal (Coupons

TopCashback

Whiskey River Soap

Grab Chris’ 2023 Holiday Gift Guide

Click here to check the full show notes: https://www.biggerpockets.com/blog/money-473

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Happy Thanksgiving! This Turkey Day, we're giving you an encore of one of our favorite episodes on the money hacks EVERYONE should know about! This was one of our top shows of last year and will teach you how to save better, spend less, and travel for CHEAP! Enjoy!

______

Travel hacks, spending hacks, medical hacks. If there’s one thing that Chris Hutchins has learned from hosting the All the Hacks podcast, it’s that everything is negotiable. You can travel to over sixty countries for (almost) free, outsource your cooking at a reasonable rate and even get free money once forgotten. Chris should know—he’s done all this and more as he works to optimize every aspect of his life, both financially and personally!

Chris was hacking at a very young age. In high school, he made a fake magazine so he could score free press passes to concerts. When he was away at boarding school, he would buy whole pizzas and sell them by the slice just to afford a few slices of his own. Then, later when he quit his job to travel the world, Chris and his partner hit over sixty countries, using credit card points to globetrott from South Africa to Singapore!

Now, as a father, Chris is more concerned about hacking his time. He’s got kids to take care of and doesn’t want to waste a second of his day that could be spent planning for, or playing with, his children. In today’s episode, you’ll hear some of the most insane life hacks, from hiring a personal chef for a fraction of the cost to getting free champagne at any hotel stay and even snagging twenty to thirty percent off of your dream vacation villa. These hacks work (we tried them in real-time), and you may need a pen and paper to write them all down!

In This Episode We Cover

Credit card points, travel hacking, and how to get flights for free (or at a steep discount)

Outsourcing and delegating everything so you spend more of your time with those who are most important

Simple principles for an optimized life and why conventional wisdom is usually out of whack

How to get deep discounts off of vacation properties during your next big trip

Why you should NEVER cancel a flight until twelve hours before takeoff

Where to find “unclaimed money” you never knew you had (we found some ourselves!)

And So Much More!

Links from the Show

BiggerPockets Money Facebook Group

BiggerPockets Forums

Finance Review Guest Onboarding

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Mindy on BiggerPockets

Listen to All Your Favorite BiggerPockets Podcasts in One Place

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Podcast Talent Search!

Money Moment

All The Hacks Podcast

Apps Mentioned in This Episode:

CardPointers

Paprika

FancyHands

Google Flights

AutoSlash

Amazon Smile

Library Extension

Cash Back Monitor

SavenDeals

DeleteMe

Click here to check the full show notes: https://www.biggerpockets.com/blog/money-472

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Building wealth, saving money, getting rich—it’s much more straightforward than most people think. You don’t need to be a financial expert or millionaire to know what you should do with your money. But if you’ve found yourself in a spot where saving and investing just isn’t happening or you want to build wealth but don’t know where to start, we’ve got the perfect guest for you!

Tiffany Aliche, AKA “The Budgetnista,” is on track to help more than 300,000 people start their journey to financial freedom with her Live Richer Challenge, following the same steps she took to get out of over $30,000 in credit card debt, fix her trashed credit score, and save and invest her way to serious wealth. In today’s show, Tiffany will talk about the ten steps you can take to go from money mayhem to net worth nirvana so you can build generational wealth, achieve financial freedom, and leave a legacy for your family.

If you liked today’s episode, grab a copy of Tiffany’s Made Whole financial workbook that’ll help you get good with money no matter where you’re starting!

In This Episode We Cover

The ten steps that’ll take you from broke to building a financial legacy 

Why you’re budgeting all wrong and the right way to make sure you’re not overspending

The EASIEST way to save money every month that will grow your bank account without you even noticing it

The different methods to get out of debt and which one makes most the sense for your situation

How to take your credit score from the 500s to the 800s with some super simple hacks

The one thing you can do right now to start building your retirement nest egg

And So Much More!

Links from the Show

BiggerPockets Money Facebook Group

BiggerPockets Forums

Finance Review Guest Onboarding

Join BiggerPockets for FREE

Mindy on BiggerPockets

Listen to All Your Favorite BiggerPockets Podcasts in One Place

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Podcast Talent Search!

Money Moment

From Financially Perfect to Rock Bottom (and Back Again)

How to Teach Your Children About Money

Tiffany Aliche’s 10 Financial Components to Become ‘Financially Whole’

Join the Live Richer Challenge!

Click here to check the full show notes: https://www.biggerpockets.com/blog/money-471

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Want to know how to make $100 a day the easy way? We’ve got the queen of side hustles, Jackie Mitchell, on the show to share the most legit, low-effort, flexible side hustles you can try today to start making money tomorrow. Jackie challenged herself to make $100 per day for the next 100 days as she and her husband work to save up a down paymentfor their first house. She’s documented her entire journey on social media to show the side hustles that are (and aren’t) worth the work.

From study groups to surveys, meal-prepping for others, training AI chatbots, and playing piano at events, Jackie has tried dozens of different side hustles so you don’t have to. In today’s show, she shares the best side hustles where you can make up to thirty dollars an hour working entirely from home, the side hustles that trick you into thinking you’re making more money, and how you could start making THOUSANDS more a month while working a few hours extra every day.

If you’re trying to save up for a down payment like Jackie, ditch some debt, or want a little extra in the bank, these side hustles could be your first step toward financial freedom. Stick around because Jackie will tell you which side hustles could boost your bank account!

In This Episode We Cover

How to make an extra $100 per day with simple side hustles that DON’T require experience

The one side hustle Jackie comes back to that offers consistent work and high pay

Which side hustles are NOT worth the money and take FAR longer than you think

Taxes, 1099s, and how to keep track of your income and expenses when making extra money

“Body mirroring” and how Jackie stays super efficient when doing side work 

And So Much More!

Links from the Show

BiggerPockets Money Facebook Group

BiggerPockets Forums

Finance Review Guest Onboarding

Join BiggerPockets for FREE

Scott's Instagram

Mindy on BiggerPockets

Grab Scott’s Book, “Set for Life”

Listen to All Your Favorite BiggerPockets Podcasts in One Place

Apply to Be a Guest on The Money Show

Podcast Talent Search!

Money Moment

Food Spending Eating Away at Your FI Plans? Here’s How to Eat for Cheap

The Most Efficient Path to Financial Freedom With Justin From Saving Sherpa

Taking Command of Your Finances by Understanding (& Controlling) Money with Joe Saul-Sehy

Side Hustle Websites from This Show

Data Annotation

Prolific

Remotasks

Swagbucks

Beer Money Subreddit

Click here to check the full show notes: https://www.biggerpockets.com/blog/money-470

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Building wealth is about to become more challenging than ever before. High interest rates make many rental properties cash-flow-less, the economy could enter a recession, and many investors could lose their shirts. In times of extreme economic uncertainty, only the financially fit will be able to keep, protect, and build wealth. So, in today’s episode, we’re giving you the steps you need to not only survive but thrive in ANY economy.

Who are these steps coming from? David Greene, the waiter turned multi-million dollar property investor who is not only the industry’s leader in real estate investing but one of the most financially savvy people on the planet. When the gurus go left, David goes right, which is how he’s been able to hold on to his wealth EVEN during economic turbulence.

Today, David will go over the Pillars of Wealth (also the name of his new book) that you must start building NOW if you want your wealth to last. David even gives some rare commentary on the MOST critical thing you can do to reach financial freedom faster and make more money (hint: it’s not investing in real estate).

In This Episode We Cover

The three unignorable pillars of wealth that will make you rich

BIG shifts in the economy and what happens when this game of “musical chairs” comes to an end

When to NOT invest in real estate and whether or not 2024 is FAR riskier than before

The EASIEST way to boost your bank account WITHOUT making more money

What to do TODAY to ensure you keep your job, get raises, and grow your income 

And So Much More!

Links from the Show

BiggerPockets Money Facebook Group

BiggerPockets Forums

Finance Review Guest Onboarding

Join BiggerPockets for FREE

Scott's Instagram

Mindy on BiggerPockets

Grab Scott’s Book, “Set for Life”

Listen to All Your Favorite BiggerPockets Podcasts in One Place

Apply to Be a Guest on The Money Show

Podcast Talent Search!

Money Moment

Pick Up “Pillars of Wealth” and Other Best-Selling David Greene Books

Hear David on The “BiggerPockets Real Estate” Podcast

BiggerPockets Forums

How to Become an “Overnight” Success in 10 Short Years with David Greene

Bootcamps

Click here to check the full show notes: https://www.biggerpockets.com/blog/money-469

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Bar Rescue host Jon Taffer has spent more than a decade finding the most disgusting, poorly-run, money-hemorrhaging bars in America and turning debt-ridden dumps into successful money-making businesses. How does he do it? In today’s show, this hospitality, restaurant, and bar legend will uncover the ONLY reason why businesses fail and the “secret recipe” for a successful entrepreneur.

And even if you don’t own a business or don’t plan on owning one, Jon drops some knowledge that cannot be missed and could turn WHATEVER you’re struggling with in life into a smooth path to success. Jon talks about the over two hundred bars and businesses he’s saved, the biggest mistake the owners are making, and how to get out of business debt if your business is in WAY too deep.

Lastly, Jon talks about what makes a successful entrepreneur and gives his most crucial advice for those who are about to launch or have plans to launch a business. Trust us, Jon’s advice could save your entire business!

In This Episode We Cover

The number one reason why businesses fail and what their owners should do NOW

Taking responsibility and why your excuses are STOPPING you from achieving your dreams

How Jon and the Bar Rescue team complete bar renovations in just thirty-six hours (seriously!)

Screaming, yelling, crying, and how Jon breaks through to failing business owners

The “secret recipe” for a successful entrepreneur and Jon’s biggest piece of advice in 2024

And So Much More!

Links from the Show

BiggerPockets Money Facebook Group

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

The Main Reason Most Businesses Fail and How to Avoid It

Grab Jon’s Books

Click here to check the full show notes: https://www.biggerpockets.com/blog/money-468

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