BiggerPockets Money Podcast

Vivian Tu, AKA “Your Rich BFF,” is the internet’s expert on money and personal finance. She was doing schoolyard trades before she worked on Wall Street, and now, as the host of Networth and Chill, she talks about the much more profound aspects of finances. Stuff like love, marriage, happiness, and when to ditch another date with someone who could put you in financial ruin. Americans tend to think with their hearts and less with their heads when finding love. The problem with that logic? Money is usually the single-largest reason for divorce, so if your partner doesn’t have their money right, your relationship could be rocky. So, how do you know from the jump if someone is financially savvy enough to build your life with? And, if you already have a partner, what do you do if they’re not in the financial spot you need them to be in? In this episode, Vivian walks through the financial red flags you should look for on a first date, questions to ask to see how a potential partner is doing financially, the BIGGEST money mistake in relationships, and how to start financial planning together so you can live a happier, healthier, and wealthier life. In This Episode We Cover The biggest money mistake that most couples make (and how to fix it NOW) Money questions to ask on a first date (they won’t know you’re asking about money...) The mandatory “money date” that Vivian and her partner regularly have Make a change or break up? What to do when your partner isn’t on the same financial path as you Financial planning as a couple and accomplishing your biggest financial goals together 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 Amanda's Instagram Amanda's Website Listen to All Your Favorite BiggerPockets Podcasts in One Place Apply to Be a Guest on The Money Show Podcast Talent Search! Listen to The Real Estate InvestHER Show Join The Real Estate InvestHER Community on Facebook Money Moment 16 Money Skills They Didn’t Teach You in High School Divorce: The Biggest Marriage and Money Mistakes to Avoid Smart Money Mamas’ Emergency Binder Click here to check the full show notes: https://www.biggerpockets.com/blog/money-457 Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Email us: [email protected]

Many real estate syndications are facing absolute failure in 2023. But, even if you aren’t investing in any, this could be a learning experience like no other to help you build your wealth in the future. If you’ve never heard of a real estate syndication before, here’s a quick summary: a real estate syndication is where an “operator” raises money from a group of investors to buy a large commercial property, often an apartment complex, self-storage facility, or housing community. Over the past ten years, these investments have boasted massive profits, but everything is about to change. Real estate syndications face obstacles like they never have before. Rising interest rates and vacancies, a backlog of evictions, plummeting prices, and inexperienced operators who have NEVER been in a down market. These failed deals could lead to opportunities for you to invest at a massive margin, but how do you know which deal is worth putting money into? J Scott, world-famous investor, flipper, syndicator, and author, is on the show to explain exactly what to look for in a syndication, whether investing now is the right move to make, and what to know before investing in a syndication. The right syndication can make you hundreds of thousands in a completely hands-off, passive investment. The wrong syndication can tank your entire net worth. How do you know which is which? Tune in! In This Episode We Cover Syndication investing explained and whether putting money into this “passive” investment is worth it The commercial real estate crash and why property values are plummeting Massive economic headwinds syndicators face in 2023 and why many won’t survive The danger of “floating rates” and why many syndicators could be forced to sell Accredited vs. non-accredited investors and who should consider syndication investing The most critical question you should ask ANY syndicator 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 Grab the Best-Selling Real Estate Books by J Scott Syndications: Everything You Need to Know BEFORE You Invest The Biggest Crash Imaginable is Coming For Commercial Assets REITs: How to Make Real Estate Money WITHOUT Owning Rentals w/Jussi Askola Click here to check the full show notes: https://www.biggerpockets.com/blog/money-456 Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Email us: [email protected]

Want passive income? Well, DON’T invest in rental properties. Buy REITs (real estate investment trusts) instead. Yes, you read that right. Although rental properties are a phenomenal way to build wealth and cash flow and pay fewer taxes on your income, they aren’t the most “passive” type of investment around. Between the 2 AM tenant phone calls, leaky toilets, evictions, and common headaches of owning a house, rental properties might not be worth the extra incomefor most Americans. But REITs probably are. REITs are traded on the stock market just like your favorite index fund. The difference between REITs and traditional stocks? REITs let you buy a share in a large landlord company, which passes their income down to you via dividends and often an appreciating share price. And now, as many commercial real estate values are dumping, top REITs could be selling at a HUGE discount. So, how do you start investing in them? We brought Jussi Askola on to help. Jussi runs Leonberg Capital, where he consults with some of the largest REITs in the world. He also writes the “High Yield Landlord” newsletter for Seeking Alpha and is arguably the world’s most up-to-date REIT expert. In today’s episode, Jussi gives you a top-to-bottom breakdown of REIT investing, who should (and shouldn’t) invest in them, how to know whether one is worth buying, and why rentals PALE in comparison to the passive income REITs provide. In This Episode We Cover REITs vs. rental properties and why one beats the other on profit and passive income potential How to make TRULY passive income by investing in REITs today Private vs. public REITs and which are safer, easier to exit, and provide better returns The MASSIVE REIT discount in today’s stock market and which companies are worth investing in REIT industries to avoid in 2023 that may continue to see their prices drop And So Much More! Links from the Show BiggerPockets Money Facebook Group BiggerPockets Forums Finance Review Guest Onboarding Join BiggerPockets for FREE Connect with Scott 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 Passive Income (Without the Properties!) by Investing in REITs w/Matt Argersinger What Are REITs And How Can You Invest In Them? Click here to check the full show notes: https://www.biggerpockets.com/blog/money-455 Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Email us: [email protected]

Tyler and Jenna need to know how to retire in ten years or less so they can spend less time working and more time with their family. The problem? They’re spending more than $10,000 monthly in expenses, and even with a high salary, that hurts their bottom line. But, a bigger problem to take care of is the six-figure savings sitting in their bank account, not bringing them any closer to becoming financially free. So, what should they do next? Today, Mindy is joined by her husband, Carl, as these lucrative lovebirds advise a young couple who just had their first child and are looking to speed up their early retirement timeline. Tyler works in finance, taking home a stable income, and Jenna runs her own business that’s still expanding. They want to increase their incomes, invest more, and move closer to early retirement, so where do they start? With three FI-friendly investment options—index funds, short-term rentals, and syndications—Tyler and Jenna can use any (or all) of these to multiply their wealth. But, one of these options poses a substantially bigger risk than they may think, and Mindy and Carl feel that they MUST warn this couple about it before they pull the trigger. If you dream of hitting FI in a decade or less, this episode can help you get there! In This Episode We Cover How to hit financial independence in ten years or less (and what to invest in) Tracking your expenses and categories you may want to cut out of your budget Syndication investing 101 and why now may NOT be the time to invest in passive deals Private money lending and becoming the bank for active real estate investors Buying a short-term rental and how to ensure it’ll actually turn a profit Index funds for early retirees and the easiest way to make your money grow 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 Best Alternative Investment No One Knows About Syndications: Everything You Need to Know BEFORE You Invest Making $2,000/Month with Etsy Printables Click here to check the full show notes: https://www.biggerpockets.com/blog/money-454 Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Email us: [email protected]

Financial trauma is an extremely common roadblock on the journey to financial freedom. In fact, most people deal with this issue on some level, even if they aren’t aware of it. Whether your trauma patterns stem from your parents’relationship with money or an instance of financial abuse, know that there’s light at the end of the tunnel! Welcome back to the BiggerPockets Money podcast! Today’s guest is Shannah Game—author, entrepreneur, certified financial planner (CFP), and host of the Everyone’s Talkin’ Money show. Shannah would be the first to tell you that her relationship with money has been far from perfect. Having grown up in a family where money decisions were always heavily scrutinized, Shannah has worked hard to not only address her own deep-rooted money trauma but also help others overcome similar traumatic patterns in their lives. If your negative experiences with money are preventing you from achieving your financial goals, tune in as Shannah shares her expertise on an issue that is sorely overlooked today. In this episode, you’ll learn how to name and work through your unique money trauma, avoid your biggest money triggers, and get back on the straight and narrow toward financial freedom. You’ll also learn the most common signs of trauma to look for, as well as practical exercises you can use to get your financial fear under control! In This Episode We Cover The most common signs of money trauma to look for in your own life How financial trauma is passed down through multiple generations Two questions you MUST ask to uncover the root cause of money trauma Working through money trauma patterns to reach your financial goals Exercises to practice when experiencing a traumatic money-related event Why you NEED to talk about finances with close friends and family members 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 How to Use Your Financial Fear to Build Wealth Better w/Farnoosh Torabi Breaking the Taboo of Talking About Money with Friends, Family, and Bosses w/Erin Lowry Download Shannah’s FREE Guide, “10 Money Questions to Ask Yourself Right Now” Tune in to the “Everyone’s Talkin’ Money” podcast Click here to check the full show notes: https://www.biggerpockets.com/blog/money-453 Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Email us: [email protected]

If you’re new to personal finance, investment accounts can seem complicated. The terms, the lingo—HSA, Roth, IRA, 401(k)—these may seem like letters in an arbitrary order, but using these retirement and investment accounts can help you reach financial freedom faster, pay WAY less in taxes, and maximize your money even while you’re asleep. So, how do you get started? Tune in; we’ll show you how! Joining us is early-retired CFP (Certified Financial Planner) Kyle Mast to walk through each retirement, investment, and savings account you MUST have on your road to FIRE. In today’s episode, we’ll touch on the common accounts you’ve heard of, like the 401(k) and IRA, as well as some lesser-known investing and savings accounts that can help your money grow faster than you thought possible. And whether you’re just starting your retirement journey in your 40s, 50s, or 60s, or you’re a twinkly-eyed twenty-something-year-old ready for compound interest to run its course, you’ll get EVERYTHING you need to know about investing and retirement accounts from this episode. In This Episode We Cover Retirement accounts explained and how to lower your taxes with 401(k)s and Traditional IRAs The “triple-tax benefit” account that most Americans don’t even know exists How to turn taxable income into tax-free charitable contributions in retirement The savings account that will pay you solid interest JUST to park your money What to do if you’re a high-income earner and don’t qualify for tax-advantaged accounts Highly-advantaged niche retirement accounts like the 401a and 457(b) that you might have access to 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 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 From “Bad with Money” to Intentional Saving and Spending with Jamila Souffrant Starting From $0 at Age 35 as a Teacher and Becoming ‘The Millionaire Educator’ Click here to check the full show notes: https://www.biggerpockets.com/blog/money-452 Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Email us: [email protected]

This “financial order of operations” could be your ticket to financial freedom. If most Americans followed these steps, they would find themselves debt-free, with full retirement accounts, passive income, and “wealth-accelerating” investments that only top-income earners can access. But you don’t need to make hundreds of thousands of dollars a year to follow this “Stairway to Wealth”; you just need to follow these steps! Andrew Giancola from The Personal Finance Podcast built the “Stairway to Wealth” after realizing that the common wealth-building plans, like Dave Ramsey’s “Baby Steps,” wouldn’t fit most people’s lifestyles. Instead, Andrew worked to develop a system that almost anyone could use, one that was tailored to TODAY’s financial environment and gave people more of a choice when it came to their investments. Following this nine-step plan, you can go from low cash and high debt to debt-free, financially safe and secure, and invested for your future. Whether you’re starting on step one or step nine, this type of financial framework can make financial independence and early retirement MUCH easier. In This Episode We Cover The “Stairway to Wealth” financial order of operations ANYONE can use to build wealth Emergency reserves and why the “$1,000 standard" amount ISN’T enough Roth IRAs, 401(k)s, and which retirement accounts to invest in Paying off debt and which interest rate is worth tackling first The “wealth accelerators” that boast massive returns but with higher risk The “super retirement account” that most Americans don’t know about 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 Learn from Other Real Estate Investors on the BiggerPockets Forums Start Your Real Estate Investing Journey with the “BiggerPockets Real Estate” Podcast Are Dave Ramsey’s 7 Baby Steps Overrated Master Money The Personal Finance Podcast The “Stairway to Wealth” Andrew on BiggerPockets

The fear of Job loss has become real for most Americans. And if you’re falling into the “middle-class trap,” a sudden loss of income could be even more severe. After the recent tech layoffs of 2022 and 2023, businesses outside of the Silicon Valley bubble are starting to feel the effects of higher interest rates and lower consumer spending. But what happens if YOU’RE the one who’s getting laid off? Will you be able to pay the bills? How much of a severance package can you expect? And what moves should you make NOW to get ahead? Mindy and Scott are taking questions directly from listeners to put YOU in the best financial position possible. On this show, you’ll learn what to do AS SOON as you hear about layoffs in your company, how much you could get paid for severance, and why you CAN NOT rely on unemployment for everything. Next, we hear from a high-income earner who can’t get out of debt and is stuck in the “middle-class trap.” For those with too much cash on their hands, Mindy and Scott get into investing in syndications, plus what to do if your house bills are slowly eating you alive. Got a money question you want to ask Mindy and Scott? Head over to the BiggerPockets Money Facebook group, or click here to submit your question on our next Q&A episode! In This Episode We Cover What to do if you get laid off and how to start making income ASAP Severance packages and questions you NEED to ask your employer if you lose your job The “middle class trap” that high-income earners get stuck in Syndication investing 101 and when to RUN away from a potential investment What to do if you’ve "bought too much house” and payments are putting pressure on your finances Unemployment income and why you CAN’T rely on it to pay for your life Why EVERYONE needs a side hustle to survive (yes, even YOU!) 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 Syndications: Everything You Need to Know BEFORE You Invest Want More Syndication Info? Email Scott Check Out Mindy’s ENTIRE 2022 Budget Surviving a Layoff: What HR Wants You to Know Click here to check the full show notes: https://www.biggerpockets.com/blog/money-450 Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Email us: [email protected]

People spend much of their lives grinding to Coast FI, but the truth is that you’re only ever one big financial swing from achieving your FI goals much faster. Despite starting out with very little, today’s guest was able to break the cycle and reach her Coast FI goal in just four years. In this episode, she shares the blueprint for her “overnight” success! Welcome back to the BiggerPockets Money podcast! Today, we’re speaking with finance guru and real estate investorAmberly Grant. Amberly didn’t come from wealth. Growing up, her family never owned a home or had enough money to afford simple repairs. But, at fifteen, she discovered the book The Wealthy Barber, which ignited her love for finance. After several failed business ventures and a late start to college, Amberly discovered the power of real estate investingin 2019. House hacking covered her mortgage each month, and keeping her expenses down allowed her to save most of her income and buy more properties. In this episode, Amberly demonstrates just how quickly things can swing in your favor with a little financial knowledgeand hard work. Comfortably Coast FI, Amberly now works from home, manages her real estate portfolio on the side, and spearheads FinTalks—a segment of the FIRE community that discusses important finance topics each week. Tune in to learn how she doubled her W2 income, saved eighty thousand dollars in one year, and made her husband wife-FI! In This Episode We Cover How to fast-track your journey to financial independence Reaching Coast FI in as little as four years with real estate Eliminating your mortgage payment through the power of house hacking Increasing your income through W2 raises and HUGE property cash flow Reducing your monthly expenses and supercharging your savings 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 Scott 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 How This Teacher Squashed $20K in Credit Card Debt and Hit Coast FI by 32 w/Yanely Espinal Join the FinTalks Community Today Click here to check the full show notes: https://www.biggerpockets.com/blog/money-449 Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Email us: [email protected]

Want to know how to invest $10K, $25K, $50K, or even $100K? The average American household has $41,600 saved. While that’s a decent chunk of cash, it’s not working very hard for you by sitting in a savings account, is it? Fortunately, there are all types of ways to invest that money and grow your nest egg much faster! Welcome back to the BiggerPockets Money podcast! In this “sequel” to our $100-$5,000 episode, we’re looking at ways to invest a much larger amount of money—$10,000-$100,000. Scott and Mindy are joined by guest hosts Kyle Mast and James Dainard, who share their own expertise on where to allocate your capital. Even with the diverse perspectives, all of our hosts agree: don’t just sink your money into your primary residence or fancy car and call yourself a millionaire! The moves you make today could determine your financial future. Stay tuned as our hosts offer active and passive investing ideas to consider, depending on your risk tolerance. You’ll also learn how to get one-hundred percent financing for real estate deals, ways to build (or buy!) a profitable business, and essential tax planning tips at various income levels! In This Episode We Cover The best ways to invest with $10,000, $25,000, $50,000, or $100,000 Active and passive investment opportunities at every level How to build a nest egg that allows you to live off passive income in retirement Getting one-hundred percent financing for a house flip through hard money and private money How to start and build a profitable business with zero startup costs Strategic tax planning tips to consider at different income levels 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 Kyle’s Website Clarity Financial Kyle’s Twitter James on BiggerPockets James's Website 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 The Beginner’s Guide to Investing (Start with Just $100!) Codie Sanchez: These “Boring Businesses” Will Make You Rich How to Build Yourself a 6-Figure Income Stream Click here to check the full show notes: https://www.biggerpockets.com/blog/money-448 Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Email us: [email protected]