BiggerPockets Money Podcast

Tech stocks were slam dunk investments for the past decade. No matter what you invested in—Google, Facebook, Amazon, or even some obscure AI toaster company—you probably made decent returns. But, after years of continuous economic growth and massive government stimulus, tech stocks are finally starting to get shaky. The problem? New investors like Zoe have huge paper losses on their dashboards. But is this worth worrying over?Zoe is an ideal investor. At just twenty-four, she already has close to six-figure wealth, with a house hack, a respectable retirement portfolio, and a solid income every month. She’s making the right moves but feels like some of her most recent choices haven’t hit the mark. She dabbled in stock picking as her income went up, investing in some of the biggest names in tech over the past few years. Her house hack, which is almost letting her live for free, was bought at the top of the market with an average interest rate.Zoe needs to know what to do next. Should she sell her tech stocks and invest the money into index funds where she can let it ride? Should she buy a new house hack that allows her to live for free instead of at a discount? And where should she put the thousands of dollars she’s saving every month to ensure her a life of financial freedom in the near future? Zoe has some enviable problems, and on this Finance Friday, we’ll be solving them!In This Episode We CoverThe 2022 stock market crash and whether selling and cutting your losses is a smart ideaThe right way to invest in tech stocks and how to get educated on stock pickingHouse hacking and how deals that aren’t “home runs” can still be huge winnersGetting paid to learn about real estate and using your downtime to boost your financial knowledgeFHA loans, conventional loans, USDA loans, and other ways to fund a property purchase for low money downThe right moves to make in your early twenties and why Zoe is a role model for new graduatesAnd So Much More!Links from the ShowFind an Investor-Friendly Real Estate AgentBiggerPockets Money Facebook GroupBiggerPockets ForumsFinance Review Guest OnboardingMindy's TwitterScott's InstagramListen to All Your Favorite BiggerPockets Podcasts in One PlaceApply to Be a Guest on The Money ShowPodcast Talent Search!Subscribe to The “On The Market” YouTube ChannelListen to The “On The Market” Podcast: Spotify, Apple Podcasts, BiggerPocketsCheck Out Mindy’s 2022 Live Spending Tracker and BudgetThe 4 Steps to Financial Freedom and Debt-Free WealthIs Now the Time to Buy as The Housing Market Starts to Dip?Click here to check the full show notes: https://www.biggerpockets.com/blog/money-356Interested 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

Travel hacks, spending hacks, medical hacks. If there’s one thing that Chris Hutchins has learned from hosting the All the Hacks podcast, it’s that everything is negotiable. You can travel to over sixty countries for (almost) free, outsource your cooking at a reasonable rate and even get free money once forgotten. Chris should know—he’s done all this and more as he works to optimize every aspect of his life, both financially and personally!Chris was hacking at a very young age. In high school, he made a fake magazine so he could score free press passes to concerts. When he was away at boarding school, he would buy whole pizzas and sell them by the slice just to afford a few slices of his own. Then, later when he quit his job to travel the world, Chris and his partner hit over sixty countries, using credit card points to globetrott from South Africa to Singapore!Now, as a father, Chris is more concerned about hacking his time. He’s got kids to take care of and doesn’t want to waste a second of his day that could be spent planning for, or playing with, his children. In today’s episode, you’ll hear some of the most insane life hacks, from hiring a personal chef for a fraction of the cost to getting free champagne at any hotel stay and even snagging twenty to thirty percent off of your dream vacation villa. These hacks work (we tried them in real-time), and you may need a pen and paper to write them all down!In This Episode We CoverCredit card points, travel hacking, and how to get flights for free (or at a steep discount)Outsourcing and delegating everything so you spend more of your time with those who are most importantSimple principles for an optimized life and why conventional wisdom is usually out of whackHow to get deep discounts off of vacation properties during your next big tripWhy you should NEVER cancel a flight until twelve hours before takeoffWhere to find “unclaimed money” you never knew you had (we found some ourselves!)And So Much More!Links from the ShowFind an Investor-Friendly Real Estate AgentBiggerPockets Money Facebook GroupBiggerPockets ForumsFinance Review Guest OnboardingMindy's TwitterScott's InstagramListen to All Your Favorite BiggerPockets Podcasts in One PlaceApply to Be a Guest on The Money ShowPodcast Talent Search!Subscribe to The “On The Market” YouTube ChannelListen to The “On The Market” Podcast: Spotify, Apple Podcasts, BiggerPocketsCheck Out Mindy’s 2022 Live Spending Tracker and BudgetAll The Hacks PodcastClick here to check the full show notes: https://www.biggerpockets.com/blog/money-355Interested 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

You’re one bad real estate investment away from being cash flow-poor and debt-rich. That’s right, not every investment property works out, and when leveraged the wrong way, a single property could put your financial future on the wrong track. While it’s easy to watch social media real estate investors flaunt their infinite cash flow and no money down tricks, buying profitable real estate is a little harder than it seems. Today’s guest, Shane, finds himself in this position, as an over-leveraged investment is causing him to hemorrhage cash.Welcome back to another episode of Finance Friday, where hosts Mindy and Scott bring financial suggestions, no matter how extreme, to guests in many different situations. This week, Shane walks through his numbers, and from the start, Scott picks up on a big problem. Shane and his partner bring in a solid amount of income, but it’s slowly slipping out of their accounts every month as an overleveraged short-term rental property and high consumer debt eats away at their respectable income.This isn’t an easy position to dig yourself out of, and Scott has some serious suggestions for Shane that could flip his financial position 180 degrees. But, doing so will require Shane to make drastic moves that will force him to reevaluate his relationships with spending and debt. While this “rip off the band-aid” type approach can be painful at first, it could save Shane years' worth of time on his path to real estate riches.In This Episode We CoverStaying away from consumer debt and how it can destroy your financial positionReal estate leverage and why too much of it can cause you to have negative cash flowSacrificing subscriptions, eating out, and other spending categories that may be tanking your budgetHaving a money date with your partner or spouse to get on the same financial footingThe biggest moves to make if you’re serious about getting out of debt and on the path to financial freedomBudget busters and how to build a more sustainable pattern of spendingAnd So Much More!Links from the ShowFind an Investor-Friendly Real Estate AgentBiggerPockets Money Facebook GroupBiggerPockets ForumsFinance Review Guest OnboardingMindy's TwitterScott's InstagramListen to All Your Favorite BiggerPockets Podcasts in One PlaceApply to Be a Guest on The Money ShowPodcast Talent Search!Subscribe to The “On The Market” YouTube ChannelListen to The “On The Market” Podcast: Spotify, Apple Podcasts, BiggerPocketsCheck Out Mindy’s 2022 Live Spending Tracker and BudgetDesigning a Frugal But Luxurious FI Life by Age 32Food Spending Eating Away at Your FI Plans? Here’s How to Eat for CheapBudgetBytes.comThe Money Date: What You Should (And Definitely Should Not) Do to Align Your Finances as a CoupleClick here to check the full show notes: https://www.biggerpockets.com/blog/money-354Interested 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

What should retirement planning look like? How can I invest if I am still paying off student loan debt? What makes a perfectly diversified portfolio? And when is the right time to pay off my rental properties? We went to the BiggerPockets Money Facebook Group to ask what you would like to know from a money expert. And thankfully, we found a couple of them who are friends of the show. Amanda Wolfe and Kyle Mast are here to answer some of your most-asked money questions!Amanda Wolfe was recently a guest on the BiggerPockets Money Podcast, sharing her story of reaching financial freedom after going through serious financial struggles and childhood poverty. Kyle Mast, Certified Financial Planner, has recently “retired” after helping his clients reach their financial goals with minimal stress and maximum freedom. They’re helping Mindy on today’s show to take questions directly from listeners about everything ranging from real estate to retirement planning and never feeling like you have enough.If you’ve struggled not knowing how to pay down debt, how much cash to have on hand, or are having a mental block when switching from saving to spending mode, this episode could alleviate your worries. If you’d like to get more connected with the BiggerPockets Money community and potentially get your questions answered on a future show, be sure to join the BiggerPockets Money Facebook Group!In This Episode We CoverHow to invest while paying down student loan debt, or any other debt for that matterTransitioning from saver to spender when you have enough to finally retireReal estate vs. index funds and which is more optimal for a post-retirement portfolioRoadblocks on the way to financial freedom and why you DON’T need retirement accounts to invest for retirementWhat a diversified portfolio looks like (it’s much simpler than you think)Money moves to make if you don’t have much cash, but do have consistent incomeAnd So Much More!Links from the ShowFind an Investor-Friendly Real Estate AgentBiggerPockets Money Facebook GroupBiggerPockets ForumsFinance Review Guest OnboardingMindy's TwitterListen to All Your Favorite BiggerPockets Podcasts in One PlaceApply to Be a Guest on The Money ShowPodcast Talent Search!Subscribe to The “On The Market” YouTube ChannelListen to The “On The Market” Podcast: Spotify, Apple Podcasts, BiggerPocketsCheck Out Mindy’s 2022 Live Spending Tracker and BudgetEpisode 200 Special: A Personal Finance Masterclass with Kyle MastHow to Find the Best Possible Certified Financial Planner (CFP) for Your Needs with Kyle MastShe Wolf of Wall Street WebsiteFrom Extreme Poverty to DIY Wealth and 2 Full-Time Incomes w/The She Wolfe of Wall StreetClick here to check the full show notes: https://www.biggerpockets.com/blog/money-353Interested 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

With so much going on—a recession, rampant inflation, rising interest rates—overcoming your money fears can be more challenging than ever before. The world is changing, and many of us feel like we’re being swept along with it. Our dollars are worth less, our retirement accounts have fallen sharply, and our cash is wasting away. What should we do when it feels like every financial move has a benefit and drawback attached to it? Should we even be making moves right now?Don’t get overwhelmed with financial anxiety because today we’re bringing you an episode full of financial fixes for the everyday investor! We posted on the BiggerPockets Money Facebook Group a few months back, asking you which money fears keep you up at night. Now, we’ve got answers! Back on the show are J Scott and Kyle Mast! They join Mindy in giving solutions to your greatest financial fears.J and Kyle give suggestions on topics ranging from rising home prices and the inability to become a homeowner to being nervous about how inflation is eating away at the dollar. We also touch on the age-old question of whether or not we’redoing enough right now to set us up for retirement and how a recession could affect our hard-earned assets. J, Kyle, and Mindy all give their suggestions on these situations and spill some of their own financial fears to show you that even the experts still worry like everyone else.In This Episode We CoverOur biggest financial fears and what we’re doing to mitigate them in turbulent timesGrowing up with very little and why the “never enough” mentality always lingersWhy buying a home isn’t your only option for building wealth in this marketSetting yourself up for a plentiful retirement even if you got a late startWhether or not keeping a large cash position is a smart move to makeChanging jobs to get more personal time and when flexibility trumps financesInflation, interest rates, and how to stay sane during a recession And So Much More!Links from the ShowFind an Investor-Friendly Real Estate AgentBiggerPockets Money Facebook GroupBiggerPockets ForumsFinance Review Guest OnboardingMindy's TwitterJ’s BiggerPockets ProfileJ’s Personal WebsiteListen to All Your Favorite BiggerPockets Podcasts in One PlaceApply to Be a Guest on The Money ShowPodcast Talent Search!Subscribe to The “On The Market” YouTube ChannelListen to The “On The Market” Podcast: Spotify, Apple Podcasts, BiggerPocketsCheck Out Mindy’s 2022 Live Spending Tracker and BudgetThe Money Date: What You Should (And Definitely Should Not) Do to Align Your Finances as a Couple7 Tips for Successfully Investing in ANY Market Condition With J ScottSyndications: Everything You Need to Know BEFORE You InvestEpisode 200 Special: A Personal Finance Masterclass with Kyle MastHow to Find the Best Possible Certified Financial Planner (CFP) for Your Needs with Kyle MastBiggerPockets FIRE Planning WorksheetClick here to check the full show notes: https://www.biggerpockets.com/blog/money-352Interested 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

Stock market crashes aren't good news for anyone. For retirees though, this dip in prices can feel like a death wish, as active income is no longer an option. Have the hopes and dreams of financial flexibility gone out the window? Or is a market crash like we're experiencing today just a small blip on a retiree's radar? Pairing this with inflation, how will someone who has just retired make it?We’ve got Michael Kitces, retirement planning expert and financial genius with enough acronyms coming after his name to spell out the alphabet, on the show to answer whether or not retirees are in trouble. Michael has advised his clients for decades on the right way to save and invest for retirement. He’s been a proponent of the 4% rule and was bold enough to hold his claim even during the flash crash of 2020. But, with such high inflation and stark drops in equity values, does he still agree with his past predictions?Michael takes us on a trip down memory lane, visiting some of the worst financial crises in American history, showing how they compare to today. He also proposes that holding large amounts of cash, even during high inflationary times, isn’t the worst move to make, and whether or not he’s still investing as the market finds its bottom. If you’re worried about retiring during times like today, this is the man to listen to!In This Episode We CoverThe 4% rule explained and whether this sage retirement advice still holds upHow past retirees fared during high inflation, low growth time periodsWhich types of market crashes can be “dangerous” to retirees (and who should be worried)Why some of the brightest minds in personal finance are clinging to cash Purchasing power and how withdrawal rates are affected by high inflationThe smartest move to make if you’re worried your retirement savings aren’t enoughAnd So Much More!Links from the ShowFind an Investor-Friendly Real Estate AgentBiggerPockets Money Facebook GroupBiggerPockets ForumsFinance Review Guest OnboardingMindy's TwitterScott's InstagramListen to All Your Favorite BiggerPockets Podcasts in One PlaceApply to Be a Guest on The Money ShowPodcast Talent Search!Subscribe to The “On The Market” YouTube ChannelListen to The “On The Market” Podcast: Spotify, Apple Podcasts, BiggerPocketsCheck Out Mindy’s 2022 Live Spending Tracker and BudgetBuckingham Wealth PartnersBill Bengen (The Inventor of the 4% Rule) Talks Retirement, Past Crashes, and How You Can Withdraw Even More!Original Article from the Journal Of Financial Planning, October 1994Are FIRE Naysayers Bad at Math? Yes. with Michael KitcesClick here to check the full show notes: https://www.biggerpockets.com/blog/money-351Interested 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

Margin loans, medium-term rentals, and potential mortgage rate mistakes summarize what Carl and Mindy have been up to over the past couple of months. It’s been a minute since we’ve checked in on the ever-frugal Jensen family. But they’ve been gone for a good reason. Back at the start of the summer, Carl and Mindy decided that they were finished with rehabbing and big fixer-upper projects. Then they found the perfect opportunity, waiting just a few doors down from them. So, they jumped at the chance to make another deal work.But Carl and Mindy did this type of deal in a peculiar way. Not only did they find it off-market, but they also funded it without a mortgage. Don’t get too excited—Carl and Mindy didn’t drop hundreds of thousands in cash just to buy one house. But, they did use another form of financing that most real estate investors aren’t aware of—margin loans. These types of stock portfolio-leveraged loans can come with unbelievably low interest rates. But, when equity values start to drop, so too can your safety when you use this type of financing.But it’s not all about property purchasing on this episode of Mindy & Carl’s Budget Review. The duo also talks aboutwhy their expense tracking has fallen off and how not knowing your expenses can cause far bigger problems than you’d think. They also touch on the medium-term rental strategy and how you can use it to get far higher rents with very little turnover in almost any of your rental properties! If this strategy interests you, we highly recommend grabbing the new book, 30-Day Stay.In This Episode We CoverBudgeting mistakes and how easy it is to get off track when you don’t know what you’re spending onCarl and Mindy’s newest fixer-upper, medium-term rental property purchaseUsing margin loans (stock loans) to fund your real estate dealsWhen it makes sense to use a variable loan over a traditional fixed-rate mortgage How to profitably provide housing for those that have been affected by natural disastersThe easiest way to get caught for mortgage fraud (and go to prison!)And So Much More!Links from the ShowFind an Investor-Friendly Real Estate AgentBiggerPockets Money Facebook GroupBiggerPockets ForumsFinance Review Guest OnboardingMindy's TwitterMile High FI Podcast1,500 Days to FreedomCarl's EmailListen to All Your Favorite BiggerPockets Podcasts in One PlaceApply to Be a Guest on The Money ShowPodcast Talent Search!Subscribe to The “On The Market” YouTube ChannelListen to The “On The Market” Podcast: Spotify, Apple Podcasts, BiggerPocketsCheck Out Mindy’s 2022 Live Spending Tracker and BudgetSpending Categories to Cut During a Downturn | Mindy & Carl’s Budget ReviewClick here to check the full show notes: https://www.biggerpockets.com/blog/money-350Interested 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

The new vs. used car debate has been going on for as long as automobiles have existed. For almost the entirety of time when cars were being bought and sold, it seemed like a responsible, frugal decision to buy used, save up some money, and take the repairs with the deal. But inflation has changed this debate in 2022 (and beyond). Used car prices are high—sometimes even higher than new cars—prompting shoppers to reconsider what makes the most financial sense.In the first half of this show, we talk to Liz Frugalwoods, financial blogger and borderline professional at buying and selling cars. She recently made the bold decision to buy new—a shock to many of her readers. How could Liz, a financial independence expert, do something as careless as buying a brand-new car? Had she given up on the path to frugality? Not exactly. Liz shares some good reasons why buying new instead of used makes more sense, especially today.To close out the episode, we bring on local mechanic Jesse Johnson, who gives a brief masterclass on buying, selling, and maintaining cars. As a mechanic with decades of experience, he knows exactly what car owners do to slowly destroy their daily drivers. He also knows how to get the most bang for your buck and when it’s the right time to sell that clunker sitting in your driveway.In This Episode We CoverThe reasoning (and math) behind buying a new car vs. buying a used carTaxes, registration, fees, and other trade-offs when buying new vs. usedThe most important questions to ask yourself when shopping for a vehicle Tips when selling a used car and the #1 thing to NEVER do What parts of a car are worth repairing and which can waitHow to find a great mechanic in your area and get a free car washTrade-in tips and what to know to get the most out of a dealerAnd So Much More!Links from the ShowFind an Investor-Friendly Real Estate AgentBiggerPockets Money Facebook GroupBiggerPockets ForumsFinance Review Guest OnboardingMindy's TwitterScott's InstagramThe “Mile High FI” Podcast1,500 Days to Freedom1500 Days YouTube ChannelListen to All Your Favorite BiggerPockets Podcasts in One PlaceApply to Be a Guest on The Money ShowPodcast Talent Search!Subscribe to The “On The Market” YouTube ChannelListen to The “On The Market” Podcast: Spotify, Apple Podcasts, BiggerPocketsCheck Out Mindy’s 2022 Live Spending Tracker and BudgetFrugalwoods - Financial Independence and Simple LivingWhy We Bought a New CarClick here to check the full show notes: https://www.biggerpockets.com/blog/money-349Interested 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

Guest Steven shares his journey of becoming debt-free after paying off six figures of debt. He seeks advice on starting investing, job offers, and family planning. Expert J Scott provides insights on real estate investing and financial decision-making post-debt payoff.

Dollar-cost averaging—you may have heard the term before, but maybe not its implications. According to Nick Maggiulli, it’s probably the easiest way to get rich with stocks, real estate, or really anything else. But what about buying the dip? Wouldn’t investing at historic lows be the wisest move to make when the markets take a tumble? Surprisingly, no! Don’t believe us? Listen on!Nick’s investing theory is simple. But, the math backs it up. Doing less will make you more money—much more money. In his book, Just Keep Buying, Nick lays down the time-tested, proven ways to build wealth without being an expert day trader, cryptocurrency coder, or stressed-out landlord. This simple system of investing will allow you to build an almost unspendable nest egg without being glued to the market charts and graphs all day long.But maybe stocks aren’t your thing. Maybe you're chasing hundred-millionaire status? Don’t worry, Nick also gives his take on achieving monumental money goals without following the same path as everyone else. No matter where you’re at in life, this is an investing lesson worth learning as early as possible!In This Episode We CoverDollar-cost averaging vs. buying the dip and which will make you more in the long runHow to invest with a falling stock market, high interest rates, and higher bond yieldsIndividual stocks vs. index funds and who should pick which type of investmentCryptocurrency, NFTs, and investing in alternative assetsThe downside of diversification and why it won’t help you build a big portfolioWhy even billionaires don’t feel like they’re rich enoughAnd So Much More!Links from the ShowFind an Investor-Friendly Real Estate AgentBiggerPockets Money Facebook GroupBiggerPockets ForumsFinance Review Guest OnboardingMindy's TwitterScott's InstagramListen to All Your Favorite BiggerPockets Podcasts in One PlaceApply to Be a Guest on The Money ShowPodcast Talent Search!Subscribe to The “On The Market” YouTube ChannelListen to The “On The Market” Podcast: Spotify, Apple Podcasts, BiggerPocketsCheck Out Mindy’s 2022 Live Spending Tracker and BudgetAre FIRE Naysayers Bad at Math? Yes. with Michael KitcesClick here to check the full show notes: https://www.biggerpockets.com/blog/money-347Interested 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