BiggerPockets Money

BiggerPockets Money

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BiggerPockets Money episodes

  • 377: Mr. Money Mustache on Life After FI: The Truth About Retiring Early in Your 30s

    Mr. Money Mustache is the internet’s poster child for early retirement. At age thirty, Pete Adeney was able to leave a lucrative job as a software engineer to focus on building a financially free life. He brought the FIRE movement to the mainstream by teaching others online how simple spending skills could allow them to quit their corporate jobs, keep more money while working less, and live a life centered around passion, not a paycheck. His popular blog has garnered millions of visits, as early versions of himself flock to the financially-freeing wisdom so rarely talked about in average American society.

    Pete has been retired for nearly twenty years now, meaning he’s been FIRE more than double the amount of time he spent in the working world. So, how does he spend his days? What keeps him going? Does he still have enough money?And how can someone repeat his system? Scott and Mindy spend this episode asking the “life after FI” questions, so you can know exactly what you’re getting into when you retire early. Pete’s answers shed light on often untouched topics that most of the money community can’t answer.

    We’ll go deep into planning for financial independence, developing “spending skills” that can bring early retirement decades sooner, and the right way to quit your job and wean off work. Pete also shows what the day in the life of an early retiree looks like and how today’s stock market crash has affected his portfolio. Want to retire early? Strap in—we’ve got the man who brought FI to the masses on today’s show!


    In This Episode We Cover

    Pete’s repeatable plan for FI and the simple steps that can lead to financial freedom

    Quitting your 9-5 and why leaving work all at once could be a big mistake

    Why most early retirees never touch their nest egg (and why you probably won't either)

    Whether or not early retirement truly lives up to the hype

    The 2022 stock market crash and how it’s affected Pete’s portfolio and investing mentality

    Stocks vs. bonds and why someone who’s chasing early retirement should choose one over the other

    And So Much More!


    Links from the Show

    Find an Investor-Friendly Real Estate Agent

    BiggerPockets Money Facebook Group

    BiggerPockets Forums

    Finance Review Guest Onboarding

    Mindy's Twitter

    Scott's Instagram

    Listen to All Your Favorite BiggerPockets Podcasts in One Place

    Apply to Be a Guest on The Money Show

    Podcast Talent Search!

    Subscribe to The “On The Market” YouTube Channel

    Listen to The “On The Market” Podcast: Spotify, Apple Podcasts, BiggerPockets

    Check Out Mindy’s 2022 Live Spending Tracker and Budget

    Mr. Money Mustache

    The Surprising (Scientific) Truth Behind What Makes You Successful

    Multpl.com

    Cfiresim calculator

    Early Retirement Extreme


    Click here to check the full show notes: https://www.biggerpockets.com/blog/money-377


    Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Check out our sponsor page!

    Learn more about your ad choices. Visit megaphone.fm/adchoices

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

    1 hr 12 min
  • 376: Margin Loans: Low-Interest Lending or Risky Rates?

    Margin loans could be the sneakiest way to snag a low-interest rate loan in today’s Fed-influenced environment. What most investors don’t know is that you can use your stock portfolio as collateral to get massively discounted lending, but it comes with considerable risk. Carl and Mindy Jensen used this type of lending to buy their most recent real estate purchase, a medium-term rental renovation project in the same neighborhood as their primary residence.

    At the time, Carl could get an interest rate so attractive that it was almost impossible to pass up. We’re talking about mortgage-sized loans with less than 2% interest! This seemed like a steal at the time, but as the market started to tank and big tech stocks like Tesla took a tumble, Carl and Mindy’s margin loan began getting hit. They faced a tough decision: either get liquidated and lose much of their stock portfolio or come up with the difference themselves.

    In this episode, you’ll hear exactly how Carl and Mindy grew their stock portfolio to multiple millions in worth, the mistakes they made along the way, why they took out a margin loan, and whether or not they’d do it again. If you’ve got a sizable stock portfolio but don’t know how to get funding for your real estate deal, stick around! Margin loans could be an option for you, but you’ll need to know how to work them first.


    In This Episode We Cover

    Margin loans explained and the risk that comes with a low-interest rate loan 

    Investing in tech stocks and whether or not they’re worth it now that stock valuations are down

    Index fund investing and why single stock-picking may be riskier than you think

    What getting a “margin call” means, and what to do when your stock values drop

    HELOCs (home equity lines of credit) and using them as a safety net for paying off debt

    Carl and Mindy’s new medium-term rental and whether the headache was worth the new house

    And So Much More!


    Links from the Show

    Find an Investor-Friendly Real Estate Agent

    BiggerPockets Money Facebook Group

    BiggerPockets Forums

    Finance Review Guest Onboarding

    Mindy's Twitter

    Mile High FI Podcast

    1,500 Days to Freedom

    Carl's Email

    Listen to All Your Favorite BiggerPockets Podcasts in One Place

    Apply to Be a Guest on The Money Show

    Podcast Talent Search!

    Subscribe to The “On The Market” YouTube Channel

    Listen to The “On The Market” Podcast: Spotify, Apple Podcasts, BiggerPockets

    Check Out Mindy’s 2022 Live Spending Tracker and Budget

    Finance Friday: My Home Renovation Put Me in a HELOC Hole


    Click here to check the full show notes: https://www.biggerpockets.com/blog/money-376


    Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Check out our sponsor page!

    Learn more about your ad choices. Visit megaphone.fm/adchoices

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

    39 min
  • 375: FTX, Fraud, and the Case for Cryptocurrency in 2023

    Cryptocurrency is dead in the mind of most investors. What started as an awe-inspiring investment reaching massive multiples in just months, quickly became a subject of contention within the investing community. Some moretraditional investors called cryptocurrency an outright fraud, while others claimed it was the final puzzle piece in the battle for a stable fiat currency. Now, with many crypto prices down, is there any reason to invest?

    For long-time listeners of the BiggerPockets Money Podcast, you’ll know that hosts Scott and Mindy don’t have a terribly favorable view of cryptocurrency. Not because they think it’s illegitimate, but because of its massive volatility that has borderline bankrupted many inexperienced investors. We wanted a deeper insight into why cryptocurrency could be worth investing in, so we brought Laura Shin onto the show.

    Laura is host of the Unchained podcast, where she updates the crypto community on the latest news stories, price action, and more. Laura is an agnostic crypto investor with a level-headed view of the benefits and risks of investing in this volatile asset. She gives us a masterclass on the current state of cryptocurrency, the history of Bitcoin, why assets like Ethereum may be more valuable, and why exchanges like FTX are not to be trusted.


    In This Episode We Cover

    The history of cryptocurrency and how Bitcoin started a worldwide craze

    Ethereum vs. Bitcoin and why “ultra-sound” money could beat the rest

    The “crypto winter” and whether or not now is a buying opportunity for investors

    Money crypto vs. tech crypto and why there may be more than one coin left standing

    FTX, fraud, and how crypto exchanges can lose your coins, and the best way to protect yourself

    And So Much More!


    Links from the Show

    BiggerPockets Money Facebook Group

    BiggerPockets Forums

    Finance Review Guest Onboarding

    Scott's Instagram

    Mindy's Twitter

    Listen to All Your Favorite BiggerPockets Podcasts in One Place

    Apply to Be a Guest on The Money Show

    Podcast Talent Search!

    Subscribe to The “On The Market” YouTube Channel

    Listen to The “On The Market” Podcast: Spotify, Apple Podcasts, BiggerPockets

    Check Out Mindy’s 2022 Live Spending Tracker and Budget

    Finance Friday: First Down Market? Here’s How to Stop Stressing

    Unchained podcast

    Bitcoin: Investing Fad or Final Bullet to Fiat Currency?


    Click here to check the full show notes: https://www.biggerpockets.com/blog/money-375


    Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Check out our sponsor page!

    Learn more about your ad choices. Visit megaphone.fm/adchoices

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

    55 min
  • 374: Private Equity: Passive, Profitable Investments You’ve Probably Never Heard Of

    Private equity is a term often left undefined. Ask most people if they’ve heard of private equity, and they’ll say yes. But ask them to explain what it is or how it works, and most Americans will struggle to come up with even a sentence. The industry of private equity investing is shrouded in mystery, but it probably shouldn’t be. If you know what private equity is and how to invest in it, you could take home passive income that beats the stock market and real estate investing with none of the headaches or short-term panic of either.

    This simple-to-understand but constantly overcomplicated industry could make you better returns, with far less work, investing in businesses you already know and trust. This is precisely what Sachin Khajuria’s book, Two and Twenty: How the Masters of Private Equity Always Win, is all about. As a former partner at one of the world’s largest alternative asset firms with over two decades of experience, Sachin can explain the ins and outs of private equity better than anyone.

    Sachin will demystify the often shadowy world of private equity in this episode. He explains why it’s such a lucrative business and how it’s coming close to matching the same firepower as the public markets many of us invest in. With potential returns far higher than traditional assets, Sachin makes a strong case for why you should be looking into private equity now before the masses find out about it and flood the market.


    In This Episode We Cover

    Private equity explained and the simple yet highly profitable business model behind it

    The two and twenty rule and why private equity firms are designed to maximize your money

    Private equity returns and whether or not the high profits are worth the long time horizon

    The “unloved” businesses that have seen massive growth thanks to private equity

    Rising interest rates and how this could affect the value of private equity investments

    The businesses you already buy from that are owned by private equity

    How to find and invest in private equity even if you’re not a mega-millionaire

    And So Much More!


    Links from the Show

    Find an Investor-Friendly Real Estate Agent

    BiggerPockets Money Facebook Group

    BiggerPockets Forums

    Finance Review Guest Onboarding

    Scott's Instagram

    Mindy's Twitter

    Listen to All Your Favorite BiggerPockets Podcasts in One Place

    Apply to Be a Guest on The Money Show

    Podcast Talent Search!

    Subscribe to The “On The Market” YouTube Channel

    Listen to The “On The Market” Podcast: Spotify, Apple Podcasts, BiggerPockets

    Check Out Mindy’s 2022 Live Spending Tracker and Budget


    Click here to check the full show notes: https://www.biggerpockets.com/blog/money-374


    Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Check out our sponsor page!

     

    Learn more about your ad choices. Visit megaphone.fm/adchoices

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

    54 min
  • 373: The Money Show’s Guide to Personal Finance for Beginners

    Mastering personal finance is one of the most important things anyone can do. If you know where your money is coming from, where it’s going, and how to make more of it, you can retire comfortably, retire early, or have less financial anxiety at the end of the day. But, the world of personal finance can be complicated for beginners. With so many spreadsheets, calculators, money methods, and mistakes to avoid, where does someone just getting started go to understand the basics?

    We brought Scott and Mindy, our two masters of money, on for a solo show where they walk through some of the top tips in personal finance. They’ll touch on budgeting, saving, and expense tracking so you can know the ins and outs of your finances with far less effort than ever before. You’ll also hear about the different methods for paying off debt, good debt vs. bad debt explained, and the right way to think about interest rates. Finally, Scott and Mindy will go over investments, when the right time to invest is, how to prioritize what to invest in, and when you’re ready to invest in real estate.

    No matter where you’re at on the personal finance spectrum, investing or not, debt-free or full of debt, this episode can help you prioritize the dollars and cents in your life so you can reach financial freedom faster. And if you still don’t know where to start, stick around, as this episode is chock full of links to debt payoff methods, investment plans, budgeting examples, and more to help you on your journey!


    In This Episode We Cover

    Personal expenses vs. business expenses and why you should never mix the two

    Expenses explained and what does (and definitely does NOT) count in your budget

    The two skills every investor or business owner needs to succeed

    The different ways to pay off debt and how to know whether your interest rate is too high

    Good debt vs. bad debt and why many investors are choosing to hold on to low-interest loans

    The right and wrong way to use a HELOC (home equity line of credit) when investing in real estate

    How to prioritize your investments and building a personalized investment plan that will help you build wealth

    And So Much More!


    Links from the Show

    Find an Investor-Friendly Real Estate Agent

    BiggerPockets Money Facebook Group

    BiggerPockets Forums

    Finance Review Guest Onboarding

    Scott's Instagram

    Mindy's Twitter

    Listen to All Your Favorite BiggerPockets Podcasts in One Place

    Apply to Be a Guest on The Money Show

    Podcast Talent Search!

    Subscribe to The “On The Market” YouTube Channel

    Listen to The “On The Market” Podcast: Spotify, Apple Podcasts, BiggerPockets

    Check Out Mindy’s 2022 Live Spending Tracker and Budget

    Finance Friday: My Home Renovation Put Me in a HELOC Hole

    The Money Date: What You Should (And Definitely Should Not) Do to Align Your Finances as a Couple

    Finance Friday: Got Extra Cash? Here’s the Investment Plan for You

    Scott Trench’s Step-by-Step Guide to Building Your Perfect, 1-Page Investment Plan

    Rookie Podcast Episode 200: Scott Trench’s 10-Step Checklist to Buy Your First Rental Property

    Rookie Readiness Checklist

    Scott Trench's Investment Investment Philosophy Worksheet


    Click here to check the full show notes: https://www.biggerpockets.com/blog/money-373


    Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Check out our sponsor page!

    Learn more about your ad choices. Visit megaphone.fm/adchoices

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

    43 min
  • 372: Franchises 101: How to Find, Fund, and Profit from Owning a Franchise

    Want to buy a business? If so, you’ll need franchises explained. At first, franchises seem like something only for fast food, gas stations, or hotel chains. But, in reality, a whole world of businesses are up for sale that have proven track records and could put profits into your pocket faster than starting your own business. But first, you’ll need to make sure you’re ready to own and run a franchise, as it’s not always the passive income stream investors believe it to be.

    When done right, franchises offer an almost irresistible offer to young entrepreneurs or those trying to escape the corporate ladder. You can trade in your soul-sucking nine-to-five, receive top-tier support and training, and get paid a salary, all while your business grows in the background. But before you start window shopping for which hair salon, water restoration, or pool cleaning business you want to own, you’ll need to talk to someone like Greg Mohr, author of Real Freedom: Why Franchises Are Worth Considering and How They Can Be Used For Building Wealth. 

    Greg acts as a franchise consultant, helping match potential franchisees to a parent company that works best for their schedule, goals, and income-earning potential. You may think you know how a franchise works, what type you’d like to buy, and how much money you would make, but Greg’s in-depth, multiple-decade-long knowledge may tell you otherwise. So, if you want to run a business but don’t know where to start, Greg may be the perfect person to turn to.


    In This Episode We Cover

    The history of franchises and why buying a business often beats building one

    The true profits of running a franchise and how much an owner can expect to make

    How much franchise consultants cost (much less than you’d think), and why you need one

    Most common franchise mistakes to avoid and why you should never look at JUST the franchise fee

    Funding a franchise and how to use retirement accounts, HELOCs, and more to buy businesses

    Business partnerships and who should join forces to buy a franchise together

    And So Much More!


    Links from the Show

    BiggerPockets Money Facebook Group

    BiggerPockets Forums

    Finance Review Guest Onboarding

    Scott's Instagram

    Mindy's Twitter

    Listen to All Your Favorite BiggerPockets Podcasts in One Place

    Apply to Be a Guest on The Money Show

    Podcast Talent Search!

    Subscribe to The “On The Market” YouTube Channel

    Listen to The “On The Market” Podcast: Spotify, Apple Podcasts, BiggerPockets

    Check Out Mindy’s 2022 Live Spending Tracker and Budget

    The Benefits of Franchising vs. Starting a Business from Scratch


    Click here to check the full show notes: https://www.biggerpockets.com/blog/money-372


    Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Check out our sponsor page!

    Learn more about your ad choices. Visit megaphone.fm/adchoices

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

    58 min
  • 371: Bitcoin: Investing Fad or Final Bullet to Fiat Currency?

    Asking for Bitcoin explained is like asking how a rocket works; it's a little complex. A digital currency is valued at a certain amount of dollars (or euros, yen, etc.) and is used to pay for goods or exchange for other currencies. That makes sense. But things can get complicated as we go deeper into Bitcoin and the blockchain. There's no need to get overwhelmed; we brought Saifedean Ammous, economist and author of The Bitcoin Standard, onto the show to explain.

    Saifedean, like many investors, was skeptical of Bitcoin at first. He thought it was merely a fad that would pass away in a few years. But, after researching the history of money, the rise and fall of fiat currencies, and the standard that Bitcoin was built on, Saifedean changed his tone. Now, he's a huge proponent of this new "digital gold" and has spent years of his life warning others of fiat currency's faults and the opportunity behind Bitcoin itself.

    In today's episode, Saifedean explains what Bitcoin is, how it works, why the blockchain is needed, and why saving money isn't enough in today's fiat inflationary environment. You'll also hear why "hard money" like Bitcoin beats "easy money" like the American dollar and why the latest cryptocurrency crash isn't as bad as mainstream economists think. So if you've thought of snagging a bit of Bitcoin, this is the best place to start.


    In This Episode We Cover

    The history of money, fiat currencies, why rare, hard money is always the most safe

    The dangers of easy money, debasing currency, and the fallacy of required inflation

    How Bitcoin solves the fiat problem and why it can never be inflated or over-printed

    The blockchain explained and why it works for Bitcoin and not other applications like real estate

    Cryptocurrency's latest crash and why fluctuating Bitcoin prices are more typical than they seem

    Whether to bet on businesses, real estate, Bitcoin, or all three when investing

    And So Much More!


    Links from the Show

    BiggerPockets Money Facebook Group

    BiggerPockets Forums

    Finance Review Guest Onboarding

    Scott's Instagram

    Mindy's Twitter

    Listen to All Your Favorite BiggerPockets Podcasts in One Place

    Apply to Be a Guest on The Money Show

    Podcast Talent Search!

    Subscribe to The “On The Market” YouTube Channel

    Listen to The “On The Market” Podcast: Spotify, Apple Podcasts, BiggerPockets

    Check Out Mindy’s 2022 Live Spending Tracker and Budget


    Click here to check the full show notes: https://www.biggerpockets.com/blog/money-371


    Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Check out our sponsor page!


    Learn more about your ad choices. Visit megaphone.fm/adchoices

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

    1 hr 9 min
  • 370: Finance Friday: How to Build a Six-Figure Business (in Your 20s!)

    How can a simple pressure washing business make you six figures of income a year? With a startup cost of only a couple hundred dollars, today’s guest Chris expanded his pressure washing, Christmas light-hanging, gutter-cleaning operation into a profitable business with multiple employees and a stacked schedule. But, as Chris has started to expand, he’s seen his personal profits decline, so should he outsource less so he can keep more of the revenue he’s working hard to bring in?

    Welcome back to another Finance Friday episode, where we talk to Chris, a twenty-six-year-old entrepreneur learning to navigate profits, payroll, customer acquisition, and more in his pressure washing business. Chris found an interesting niche to serve; older communities in his home state of California. He’s been able to build a brand, grow his business, and have a Rolodex full of repeat clients, but he still doesn’t know the best way to scale. Not only that, Chris also started investing in real estate, with a cash-flowing house hack allowing him to eliminate his housing costs.

    Chris wants to know the best way to expand his business while still retaining his high margins, what type of healthcareplan he should be on now that he’s twenty-six, when he should look to buy another house hack, and how to keep investing. Chris is on a bright path already, but with a few tweaks, he could be financially free in only a few more years!


    In This Episode We Cover

    How to build a business that will gross six figures even if you have no entrepreneurial experience

    Payroll, employees, and how to outsource more of your work so you can focus on expanding

    Turning a service-based business into a profitable, repeatable empire

    House hacking explained and using it to reduce your cost of living significantly

    Healthcare for entrepreneurs and why the HSA is the “ultimate retirement account”

    Growing your business so you can reach financial freedom even faster

    And So Much More!


    Links from the Show

    BiggerPockets Money Facebook Group

    BiggerPockets Forums

    Finance Review Guest Onboarding

    Scott's Instagram

    Mindy's Twitter

    Listen to All Your Favorite BiggerPockets Podcasts in One Place

    Apply to Be a Guest on The Money Show

    Podcast Talent Search!

    Subscribe to The “On The Market” YouTube Channel

    Listen to The “On The Market” Podcast: Spotify, Apple Podcasts, BiggerPockets

    Check Out Mindy’s 2022 Live Spending Tracker and Budget

    Finance Friday: Tips to Build a House Hack STACK in Your 20s

    Finance Friday: From $33k in Debt to $100k+ in Net Worth Through House Hacking & Smart Saving with Budget Girl

    The House Hacking Strategy with Craig Curelop


    Click here to check the full show notes: https://www.biggerpockets.com/blog/money-370


    Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Check out our sponsor page!

    Learn more about your ad choices. Visit megaphone.fm/adchoices

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

    48 min
  • 369: The Capitalist Cult: How MLMs and Pyramid Schemes Trap Average Americans

    Multi-level marketing companies (MLMs) operate in secrecy. They don’t want you to know where the products are coming from, how they’re being sold, who’s making a profit, and how the business works. They only want you to buy. Buy this starter kit, host that party, convince your friends and join the cult—sorry, the “club.” Operating in darkness is how these pyramid schemes build their membership count, branch into new cities, and keep average Americans in debtbut still chasing an empty dream.

    So how did MLMs even come to be, and if they’re so blatantly nefarious, why hasn’t the government permanently shut them down? To answer these questions and many more, we brought on Jenner Furst, director of LuLaRich, the documentary that exposes the multi-billion dollar MLM empire, LuLaRoe. Jenner has worked tirelessly to uncover how these entities exist, what causes them to become so cult-like, and how unassuming Americans can fall prey to their money-making traps.

    We also talk about the hierarchy of pyramid schemes, the culture inside of one, and the uneven pay structure that falsely tricks new members into believing they can strike it rich. You’ll learn about the history of MLMs, the so-called “Amway Rules,” and how snake oil salespeople have used social media to grow their empires to even greater heights.


    In This Episode We Cover

    The history of pyramid schemes and MLMs and how they become popularized in America

    MLMs vs. pyramid schemes and the loose differences between these two types of businesses

    The cult-like culture that exists inside an MLM and the blatant red flags that stick out

    The false pay structure of MLMs and how they artificially promise returns that are impossible to achieve

    How social media and live posts caused the MLM fire to grow even faster

    How pyramid schemes play to people’s fears and desperations to get them to join

    And So Much More!


    Links from the Show

    BiggerPockets Money Facebook Group

    BiggerPockets Forums

    Finance Review Guest Onboarding

    Scott's Instagram

    Mindy's Twitter

    Listen to All Your Favorite BiggerPockets Podcasts in One Place

    Apply to Be a Guest on The Money Show

    Podcast Talent Search!

    Subscribe to The “On The Market” YouTube Channel

    Listen to The “On The Market” Podcast: Spotify, Apple Podcasts, BiggerPockets

    Check Out Mindy’s 2022 Live Spending Tracker and Budget


    Click here to check the full show notes: https://www.biggerpockets.com/blog/money-369


    Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Check out our sponsor page!

    Learn more about your ad choices. Visit megaphone.fm/adchoices

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

    51 min
  • 368: Lynne Twist’s “Want Less, Obtain More” Philosophy All FI-Chasers Should Follow

    Lynne Twist’s The Soul of Money sparked a conversation we needed to have. It didn’t make people think “how do I make more money,” instead it asked, “what world am I making with the money I have?” For decades, Lynne has beenfundraising for charities and causes around the globe. From ending world hunger to fighting for the climate, she’s made sure that her dollars are best put to use, helping the most people she can with the money she makes.

    Lynne’s rock-solid financial sense came from an unusual background. Her mother was raised well-off, but her family’s wealth came crashing down when they were forced to flee the home abroad they had made for themselves. Then, when Lynne’s father died, her mother became increasingly frugal, but for a good reason. Lynne’s mother wanted to use her money to give, not get, making every cent count in the budget. Later in life, Lynne and her husband lost a massive portion of their wealth, forcing her to ask the question—why pursue riches in the first place?

    On today’s show, we have a lively discussion on the toxic money culture that has enveloped American society, why financial independence is worth pursuing, and what those with much can do to help those with so little. Lynne’s take on wealth-building opens up a refreshing debate among early retirees and forces you to ask “why” instead of “how” when it comes to making money. Tune in, and be sure to check out Lynne’s new book, Living a Committed Life! 

     

    In This Episode We Cover

    The “soul” of money and the scarcity belief that is causing society’s financial anxiety 

    When is “enough” and how making less but giving more makes you richer

    The importance of self-sufficiency and why chasing financial freedom is always a worthwhile goal

    Learning to forgive yourself for money mistakes and why losing wealth isn’t always a bad thing

    Fighting world hunger and how Lynne is using her voice to tackle huge global issues

    Lynne’s brand new book, Living a Committed Life! 

    And So Much More!


    Links from the Show

    Find an Investor-Friendly Real Estate Agent

    BiggerPockets Money Facebook Group

    BiggerPockets Forums

    Finance Review Guest Onboarding

    Mindy's Twitter

    Scott's Instagram

    Listen to All Your Favorite BiggerPockets Podcasts in One Place

    Apply to Be a Guest on The Money Show

    Podcast Talent Search!

    Subscribe to The “On The Market” YouTube Channel

    Listen to The “On The Market” Podcast: Spotify, Apple Podcasts, BiggerPockets

    Check Out Mindy’s 2022 Live Spending Tracker and Budget

    The Soul of Money

    Pacha Mama Alliance

    The Hunger Project


    Click here to check the full show notes: https://www.biggerpockets.com/blog/money-368


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    59 min

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For those who have money… or want more of it!

Join Mindy Jensen and Scott Trench (from BiggerPocketsMoney.com) weekly for the BiggerPockets Money Podcast. Each week, financial experts Mindy…

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