BiggerPockets Money Podcast

Only have $100 – $5,000 but want to know how to invest it wisely? No amount is too small to start building smart money habits today. While some asset classes may not be viable for you just yet, there are still all kinds of ways to invest with a modest amount of money. Making the most of what you have now can set you up for a bright financial future.In this episode of the BiggerPockets Money podcast, Scott and Mindy have brought in reinforcements to discuss the best ways for beginners to invest a small amount of money—whether it’s $5,000 or as little as $100. With four unique perspectives on investing, you’ll find that there are several ways to make your money work harder for you. There is one common message, however: educate yourself and take action!Not everyone has a large nest egg to throw around. In fact, most Americans live paycheck to paycheck. If you don’t have much money to spare, this is the episode for you. You’ll learn about the investing order of operations, different types of retirement accounts and how they work, and ways to purchase real estate with no money down!In This Episode We CoverThe best ways to invest with $100, $500, $1,000, $2,500, or $5,000How to buy real estate with ZERO money downDifferent types of retirement accounts to add to your portfolioMaximizing your 401(k) contributions for a HUGE return on investmentLeveraging debt to fast-track your investing journeyAnd So Much More!Links from the ShowBiggerPockets Money Facebook GroupBiggerPockets ForumsFinance Review Guest OnboardingJoin BiggerPockets for FREEScott's InstagramAmanda's InstagramGrab Scott’s Book, “Set for Life”Listen to All Your Favorite BiggerPockets Podcasts in One PlaceApply to Be a Guest on The Money ShowPodcast Talent Search!Listen to The Real Estate InvestHER ShowJoin The Real Estate InvestHER Community on FacebookMoney MomentScott Trench’s Step-by-Step Guide to Building Your Perfect, 1-Page Investment PlanCheck Your USDA Loan EligibilityClick here to check the full show notes: https://www.biggerpockets.com/blog/money-438 Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Email us: moneymoment@biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices

Expert event planner and fundraiser, AJ Williams, discusses wedding costs and shares tips on how to do it on a budget. She talks about what couples should spend the most money on, average wedding costs, common misconceptions, and non-negotiables when planning a wedding.

“Get rich slowly” is a concept that most people in the FIRE community can get behind. “Time off,” on the other hand, seems to go against the idea of grinding to financial independence now and waiting until later in life to enjoy the spoils. Today’s guest is bucking this trend—using his financial freedom to support a “retired” lifestyle that includes traveling the world, discovering new hobbies, and learning new skills!Welcome back to the BiggerPockets Money podcast! Today, we’re speaking with J.D. Roth, founder of the personal finance blog, Get Rich Slowly. Initially launched to document his quest out of debt, this popular blog helped J.D. fast-track his journey toward financial independence. He now considers himself “retired,” although the more risk-averse person might say it’s a little too soon.If you’ve ever considered taking some time away from work but fear you don’t have the nest egg to support it, this is the episode you need to hear! J.D. tackles a handful of issues that FI-focused individuals don’t always touch on—including the importance of mental health and using a “mini” retirement to decompress. He also talks about why he’s not worried about his modest portfolio and shares the three five-year plans you need to prepare for any curveball life might throw in your direction!In This Episode We CoverHow to implement a “mini” retirement on your journey to FIREPrioritizing your mental health in a fast-paced, work-first cultureHow to take time off from work without blowing your nest eggA day in the life of someone who is taking a year off from workingImportant tips for saving more money and retiring even earlierAnd So Much More!Links from the ShowBiggerPockets Money Facebook GroupBiggerPockets ForumsFinance Review Guest OnboardingJoin BiggerPockets for FREEMindy on BiggerPocketsScott's InstagramGrab Scott’s Book, “Set for Life”Listen to All Your Favorite BiggerPockets Podcasts in One PlaceApply to Be a Guest on The Money ShowPodcast Talent Search!Listen to The Real Estate InvestHER ShowJoin The Real Estate InvestHER Community on FacebookRegister for an Upcoming InvestHER EventMoney MomentFinance Friday: How Sabbaticals Make You Happier, Healthier, and WealthierClick here to check the full show notes: https://www.biggerpockets.com/blog/money-436 Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Email us: moneymoment@biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices

Is early retirement healthcare crushing your budget? Are you tired of getting your standard two percent raise every year? What do you do when a “friend” borrows money and never pays you back? Some personal finance questions aren’t easily answered online. Instead, you need time-tested money experts to give their takes on the best moves to make. And in today’s episode, Mindy and Scott will do just that, taking questions from BiggerPockets Money listeners and answering them so you can reach financial freedom faster.This time, we’ve got a couple of uncomfortable positions you probably wouldn’t want to be in. One listener has a friend who asked for a loan and then almost immediately stopped paying, with the “friend” never to be seen again. Another question concerns a parent wanting to be paid back for student loans they took out in their name. Mindy and Scott then share a creative way to pay off credit card debt and give options on the BEST place to find post-retirement (but pre-sixty-five years old) healthcare. Finally, Scott puts on his CEO hat and shows you exactly how to ask for a raise!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 CoverWhat to do when someone owes you money (and WON’T pay it back)Student debt and whether or not you’re responsible for the loans your parents took outEarly retirement health insurance and how to find affordable coverage before Medicare kicks inKnowing your market value and what to do when your employer can’t pay you moreHow to ask for a raise and the easiest way to identify whether you’re “essential” or notCreative ways to pay off your credit card debt when interest rates are highAnd So Much More!Links from the ShowBiggerPockets Money Facebook GroupBiggerPockets ForumsFinance Review Guest OnboardingJoin BiggerPockets for FREEScott's InstagramGrab Scott’s Book, “Set for Life”Listen to All Your Favorite BiggerPockets Podcasts in One PlaceApply to Be a Guest on The Money ShowPodcast Talent Search!Listen to The Real Estate InvestHER ShowJoin The Real Estate InvestHER Community on FacebookRegister for an Upcoming InvestHER EventMoney MomentMillennial Revolution Part 1Millennial Revolution Part 2Erin Lowry on Asking for a Raise18 Options for Healthcare in Early Retirement with Lynn FrairHow to Ask for a Raise (and Actually Get It!) w/Kassandra DasentSubmit your question for our next Q&A episodeClick here to check the full show notes: https://www.biggerpockets.com/blog/money-435 Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Email us: moneymoment@biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices

The last time Ramit Sethi was on the show, tears were shed, money fears were exposed, and Mindy was forced to take a hard look at her financial habits. Now, Ramit is back, as we revisit some of the critical moments of Mindy and her husband Carl’s interview on Ramit’s show, I Will Teach You To Be Rich. In this episode, Mindy challenges the FIRE frugality she’s been stuck on for so long and discovers why more money isn’t always a good thing.If you’ve ever had a money struggle, whether too much or too little in the bank, Ramit is who you should listen to. His advice goes far beyond the regular “save more than you spend, invest the rest” type of advice you constantly hear from frugal podcasters. Instead, Ramit wants you to maximize your happiness and make the most out of life while not struggling to survive. In short, Ramit wants you to live a rich life, not a frugal one.If you struggle to spend, pinch pennies, or are dead set on reaching FIRE as fast as possible, this episode is for you.Carl, Mindy, and Scott will go over the common misconceptions about money, debunk the “wasteful” spending myth, explain why you should die with zero, and critique the flaws of the FIRE community.In This Episode We CoverWhy the FIRE movement is wrong and getting rich should NOT be the goalWhat to do when you have lots of money but no time to spend itHow to “Die With Zero” and enjoy your wealth while you’re still hereThe “what if I run out” fear and how to get over the dread of overspending Testing your spending and why you NEED to book that trip you’ve been thinking ofBuilding a rich life and how to make the most of it with the money you haveAnd So Much More!Links from the ShowBiggerPockets Money Facebook GroupBiggerPockets ForumsFinance Review Guest OnboardingJoin BiggerPockets for FREEMindy on BiggerPocketsScott's InstagramGrab Scott’s Book, “Set for Life”Listen to All Your Favorite BiggerPockets Podcasts in One PlaceApply to Be a Guest on The Money ShowPodcast Talent Search!Listen to The Real Estate InvestHER ShowJoin The Real Estate InvestHER Community on FacebookRegister for an Upcoming InvestHER EventMoney MomentMile High FI Podcast1,500 Days to FreedomCarl's EmailRamit Sethi’s Money Advice for Couples: Live a Rich Life, TogetherMr. Money Mustache on Life After FI: The Truth About Retiring Early in Your 30sHear Mindy and Carl on “I Will Teach You To Be Rich”My Death March to Financial IndependenceClick here to check the full show notes: https://www.biggerpockets.com/blog/money-433 Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Email us: moneymoment@biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices

Terrified of running out of money in retirement? Countless people share the same fear. With so much recent discourse surrounding inflation and a looming recession, you may have a tighter grip on your money than usual. Today’s guest is here to help cool some of your concerns.In this episode of the BiggerPockets Money podcast, we’re joined by David Stein from Money for the Rest of Us, who believes there are reasons to be optimistic about the economy and even more reasons to stay on the straight and narrow when it comes to investing. If you’re easily overwhelmed by the thought of investing or choosing the right asset classes, David’s message is clear: investing doesn’t need to be difficult. There are plenty of tools the average person can use to invest, grow their nest egg, and have enough money for retirement. Don’t let fear stop you from putting your money to work!Whether you’re a novice or long-time investor, you’re in for a treat with today’s episode. Tune in as David addresses several issues—including the current state of the economy, whether we should brace for a recession, and the markets he’s investing in. He also talks about the benefit of steering clear of individual stocks in lieu of ETFs and index funds, as well as when it might be smart to buy an immediate annuity!In This Episode We CoverThe four-percent rule and how to avoid running out of money in retirementHow current returns on real estate compare to those of other asset classesThe benefit of buying exchange-traded funds (ETFs) and index funds in lieu of individual stocksDiversifying your investment portfolio to include non-U.S. marketsThree important principles to focus on when deciding where to investBuying annuities to lock in an additional income stream during retirementAnd So Much More!Links from the ShowBiggerPockets Money Facebook GroupBiggerPockets ForumsFinance Review Guest OnboardingJoin BiggerPockets for FREEMindy on BiggerPocketsScott's InstagramGrab Scott’s Book, “Set for Life”Listen to All Your Favorite BiggerPockets Podcasts in One PlaceApply to Be a Guest on The Money ShowPodcast Talent Search!Listen to The Real Estate InvestHER ShowJoin The Real Estate InvestHER Community on FacebookRegister for an Upcoming InvestHER EventMoney MomentChoosing the Right Investment Type for Your Goals with David SteinCheck Out the Latest Five-Year TIPS at TreasuryDirectClick here to check the full show notes: https://www.biggerpockets.com/blog/money-432 Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Email us: moneymoment@biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices

The gender investing gap is real, but it’s not due to women lacking capital. More often than not, women are saving their money rather than investing in real estate and allowing it to grow. As successful women in real estate, today’s guests are here to break down the reasons for this investing gap and how we can work together to close it.In this episode of the BiggerPockets Money podcast, we’re joined by none other than Liz Faircloth and Andresa Guidelli, co-hosts of our sister show, The Real Estate InvestHER Show. Like many novice investors, Liz and Andresa both discovered their love for real estate shortly after reading Robert Kiyosaki’s Rich Dad Poor Dad. Years later, both have amassed their own large portfolios and are committed to helping more women dive into the world of real estate investing.Regardless of gender, there’s something for everyone to take away from this episode. Liz and Andresa share about the unique challenges women investors face today, building your real estate network, and how to find your investing partner. They also deliver some actionable next steps for women who are hesitant to invest, as well as some tips for men who want to be allies for women investors!In This Episode We CoverThe global economic impact of women investing their capitalThe unique advantages and disadvantages women face when investingHow to be an ally for women investors in your sphere of influenceActionable next steps for women looking to invest in real estateThe importance of community when getting into real estateHow to find the perfect partner for your real estate investmentsAnd So Much More!Links from the ShowBiggerPockets Money Facebook GroupBiggerPockets ForumsFinance Review Guest OnboardingJoin BiggerPockets for FREEMindy on BiggerPocketsScott's InstagramGrab Scott’s Book, “Set for Life”Listen to All Your Favorite BiggerPockets Podcasts in One PlaceApply to Be a Guest on The Money ShowPodcast Talent Search!Listen to The Real Estate InvestHER ShowJoin The Real Estate InvestHER Community on FacebookRegister for an Upcoming InvestHER EventMoney MomentDownload the FREE Partnership Question GuideClick here to check the full show notes: https://www.biggerpockets.com/blog/money-431 Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Email us: moneymoment@biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices

Want to cut your electric bill in HALF? A few secret yet simple hacks can save you hundreds, if not THOUSANDS, on your utility bills. And with energy prices almost double where they were just a few years back, everyone is antsy about turning on their air conditioners, even if you feel like you’re about to melt. Thankfully, we’ve got Larry and Hope Ware, also known as “Under the Median,” to show us EXACTLY how they lowered their electric bill by making some simple money moves.Larry and Hope have been long-time frugalists. A few years into dating, they realized they were flat broke and had to make a tough choice: put their future family first or keep spending without second thoughts. They chose the frugal path to financial independence and, as a result, raised four children on a $40,000/year salary, becoming completely debt-freein the process. Larry and Hope know how to run a budget, and saving money is their sport of choice.In this episode, Larry and Hope will unpack one of their most astonishing financial accomplishments of late; cutting their electricity bill in half. Through some utility-bill digging and kilowatt-testing, Larry and Hope have built a list of tips that could help you lower your utility bills to levels you may have never seen before. Want in on this money-saving cheat code? Tune in!In This Episode We CoverHow to cut your electricity bill in half, EVEN if you live in a sweltering climateBuilding your “Bare Bones Budget” and prioritizing where money is best spentThe “big green pile of cash” trap that you CAN’T fall intoThe BIGGEST mistake most people make when budgeting“Vampire energy” and how unused appliances could be stealing your cashAnd So Much More!Links from the ShowBiggerPockets Money Facebook GroupBiggerPockets ForumsFinance Review Guest OnboardingJoin BiggerPockets for FREEMindy on BiggerPocketsKyle’s WebsiteClarity FinancialKyle’s TwitterGrab Scott’s Book, “Set for Life”Listen to All Your Favorite BiggerPockets Podcasts in One PlaceApply to Be a Guest on The Money ShowPodcast Talent Search!Money MomentCheck Out Mindy’s 2022 Live Spending Tracker and BudgetThe Stupid-Simple Budgeting Trick I’m Using to Stop Blowing 5 Figures a MonthThe Cheapest Way to Lower Your AC Bill This SummerWe Cut Our Electric Bill in Half in About 6 WeeksClick here to check the full show notes: https://www.biggerpockets.com/blog/money-430 Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Email us: moneymoment@biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices

First-time home buyer? After this episode, you’ll see the house-hunting process in an entirely new light. Throw out the granite countertops and exposed beams you’ve always dreamed of because making an emotion-first home-buying decision could ruin your financial future. If you’re trying to build wealth, you’ll want to follow Scott Trench’s home-buying checklist, which may show that renting is the best money move you can make.The roles are reversed on today’s show because this ISN’T the BiggerPockets Money podcast; It’s Money Rehab with Nicole Lapin! Scott recently joined Nicole to talk transparently about the realities of buying your first home. In this show, Scott and Nicole go through why homeownership is falling across the US, whether or not buying in 2023 even makes sense, and why your house ISN’T what you think it is.Plus, if you’ve been debating buying a rental property, Scott has some words of wisdom you MUST take to heart before putting in offers. You’ll also hear why SO many landlords are wrong about LLCs (DO NOT miss this section) and the EXACT steps you should take to put yourself in the best home-buying position possible!Want to hear more Money Rehab? Never miss an episode and subscribe to Money Rehab with Nicole Lapin wherever you get your favorite podcasts, or here: https://link.chtbl.com/91jeLu8kIn This Episode We CoverScott Trench’s checklist for the first-time home buyer The “Lock-In Effect” and why homeowners are unable to sell their housesWhy your house isn’t the investment that you think it isHouse hacking, living next to tenants, and the truth about becoming a landlordWhether or not you need an LLC and how having one could actually hurt youThe exact process Scott follows before buying any property And So Much More!Links from the ShowBiggerPockets Money Facebook GroupBiggerPockets ForumsFinance Review Guest OnboardingJoin BiggerPockets for FREEScott's InstagramGrab Scott’s Book, “Set for Life”Listen to All Your Favorite BiggerPockets Podcasts in One PlaceApply to Be a Guest on The Money ShowPodcast Talent Search!Money MomentCheck Out Mindy’s 2022 Live Spending Tracker and BudgetTune into “Money Rehab with Nicole Lapin”Nicole Lapin’s Money Hacks to Rehab Your Finances & Say Goodbye to Bad DebtClick here to check the full show notes: https://www.biggerpockets.com/blog/money-429 Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Email us: moneymoment@biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices

If you want to retire early, the Mad Fientist is your guide. For over a decade, Brandon, more commonly known as the “Mad Fientist,” has been running simulations, experiments, and exercises to discover which road to early retirement is the fastest. Now, in his forties, Brandon has time to reflect on what worked, what didn’t, and his regrets on the sprint to early retirement and financial freedom. And he’s also got a new update that’ll make your early retirement journey smoother.After tinkering with the beloved and rarely challenged 4% rule, Brandon decided it was time to sit down and calculate how much you really need to retire early. For decades, financial freedom chasers have been breaking their backs, trying to have as much stashed away as possible to enjoy their well-earned time off from work. But, it turns out that this number might be overinflated, and you can retire with much less than you think. That means your early retirement timeline just got a LOT shorter.In this episode, Brandon will describe why the 4% rule may be a bit too rigid, how to ensure you’ll have enough during early retirement, what to do during a market crash or correction, and why spending thousands of dollars on a coffee machine isn’t such a bad idea. If you want to maximize enjoyment in early retirement, instead of building a big bank account you probably won’t use, stick around!In This Episode We CoverEarly retirement rules of thumb you MUST know when on the path to FIREThe 4% rule and why you DON’T need to follow it to a teeRetirement withdrawal rules and how much to spend during a crash/correctionThe skill of spending and what Brandon regrets most from pre-FIRE lifeTracking your expenses and why knowing your costs is CRUCIAL to early retirementAnd So Much More!Links from the ShowBiggerPockets Money Facebook GroupBiggerPockets ForumsFinance Review Guest OnboardingJoin BiggerPockets for FREEMindy on BiggerPocketsScott's InstagramGrab Scott’s Book, “Set for Life”Listen to All Your Favorite BiggerPockets Podcasts in One PlaceApply to Be a Guest on The Money ShowPodcast Talent Search!Money MomentCheck Out Mindy’s 2022 Live Spending Tracker and BudgetHear Our Past Interviews with The Mad Fientist:Accessing Retirement Funds Before Age 59½ with The Mad FientistBackdoor Roths, Mega Backdoor Roths, and Roth Conversion LaddersIs It Time to Give Up on Financial Independence?Hear Our Interview with "Just Keep Buying" Author, Nick Maggiulli:The Problem with the 4% Rule (and Why You Could Retire Even SoonerClick here to check the full show notes: https://www.biggerpockets.com/blog/money-428Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Email us: moneymoment@biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices