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

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

Cryptocurrency enthusiasts can’t fathom why Bitcoin will fail. If you tell them that you’re not investing in Bitcoin or other cryptos, they look at you like an uneducated investor, a sheep following the crowd without thinking for yourself. The promise of Bitcoin is so great that you’d have to be an outright fool to deny it, and anyone who refutes the future golden age of a decentralized society is simply mistaken and is only coping with the oncoming collapse of fiat currency and Western civilization.
The problem with that theory? None of it is grounded in reality. Today, BiggerPockets CEO Scott Trench is going to prove it. After years of research on Bitcoin, the blockchain, and cryptocurrency as a whole, Scott has come to a simple conclusion: Bitcoin isn’t worth it. In fact, Bitcoin may be worth, unsurprisingly, nothing! But before all you Bitcoin maximalists come out of the woodwork, claiming we’re forever bullish on index funds and real estate, hear out Scott’s argument.
Scott will explain the case for Bitcoin and why its end goal is actually quite altruistic. However, five fatal flaws will stop Bitcoin from ever becoming a world reserve currency or replacing fiat money. Besides its fatal flaws, Bitcoin isn’t a foolproof cryptocurrency by any means, and we’ll prove it! Finally, Scott gives his Bitcoin price prediction and his recommendation if you do want to hold some Satoshis.

In This Episode We Cover
The rational investor’s case against Bitcoin and why it’s NOT an investment
The reasons why Bitcoin could change society for the better (but probably won’t)
Five fatal flaws of Bitcoin that will stop it from ever taking over fiat currency
How adopting Bitcoin could lead to a crashing economy with no growth
The blockchain’s big problems and proof that the world isn’t ready to adopt cryptocurrency
Scott’s long-term Bitcoin price prediction that will shock Bitcoin maximalists
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 371 - Bitcoin: Investing Fad or Final Bullet to Fiat Currency? w/Saifedean Ammous
Everyone’s Talking About Cryptocurrencies. Should You Invest?
4 Reasons Cryptocurrencies & Blockchain Technology Are Poised to Transform Real Estate

00:00 Intro
02:16 The Case FOR Bitcoin 
09:51 5 Fatal Flaws of Bitcoin
14:29 Bitcoin is NOT a Perfect Crypto 
21:46 The Blockchain’s Big Problems
26:58 Bitcoin Price Prediction 
28:48 What if Bitcoin DOES Take Over?

Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-525

Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com.
Learn more about your ad choices. Visit megaphone.fm/adchoices

525: The Rational Investor’s Case Against Bitcoin

Want to be a millionaire or build a business that brings in seven figures? Want generational wealth and to be debt-free? Want to know that you have enough money to take big risks while still keeping your bank account safe? If so, you need to start thinking like the rich to begin building wealth the same way they do. “That may be easy for you to say, you host the BiggerPockets Money Podcast!” Well, don’t take it from us; take it from Marc Russell.
Marc grew up without advantages. He was in foster care for as long as he could remember, bouncing from house to house until finally, at age thirteen, he was adopted by parents with a strong, valuable work ethic. When Marc went to college, he had no money to pay for it, so he fought tooth and nail with the financial aid office to find scholarships, loans, or anything that could help him graduate. He was even kicked out of school once over not being able to pay a $900 fee! But this taught Marc how the system worked and eventually led to him landing a job at every FIRE chaser’s favorite place, Vanguard!
Once Marc started helping the rich manage their money, he looked in the mirror and asked, “Why aren’t I doing these things?” Thus, he began imitating the investing tactics of the rich, budgeting for financial freedom, and investing everything he could, even if it meant a slower path to being debt-free. Now, Marc runs BetterWallet, helping everyday people start building generational wealth, no matter their circumstances.

In This Episode We Cover
How to copy the rich so you can build wealth no matter your upbringing
Student debt, side hustles, and how to make it through college with little money
Why you MUST save a large emergency reserve before you start working for yourself
Investing vs. paying off debt and why the unconventional choice may be the best one
Budgeting for your business and ensuring you have enough money before leaving your W2
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 329 - From Extreme Poverty to DIY Wealth and 2 Full-Time Incomes w/The She Wolfe of Wall Street
BiggerPockets Money 485 - How to Start Thinking, Acting, and Investing Like the Rich w/Vivian Tu

Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-524
Learn more about your ad choices. Visit megaphone.fm/adchoices

524: Lessons From the Rich That Took Me from $0 to a $1,000,000+ Business

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

523: Americans Say THIS Is How Much You Need to Retire (More Than You'd Think)

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
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

Download our free app to listen on your phone