BiggerPockets Money Podcast

Cristina Livadary immigrated to the US when she was 6, and less than a year later, her father left, leaving her stranded with her mother and sister. She didn't speak the language, had no money, and lived in hotels until her mother was able to find steady work as a chef.She grew up without much in the way of financial education, but did secure a water polo scholarship to Bucknell. Until a rotator cuff injury lost her the funding at the beginning of her third year. She left college with $100,000 in student loans and a burning desire to find a high paying job to live out her Carrie Bradshaw dreams of living in NYC.She spent two years in New York, working hard and spending harder. She moved to LA to run a division covering California and Hawaii, and decided she needed to make a big change.Cristina stopped spending lavishly on things that didn't matter, started focusing on what made her happy, and now helps others manage their finances to get money out of the way and live their best lives.Links from the Show BiggerPockets Money Facebook Group BiggerPockets Forums BiggerPockets Money Podcast 55 with Kristy and Bryce BiggerPockets Money Podcast 55.5 with Kristy and Bryce Check the full show notes here: https://www.biggerpockets.com/moneyshow150 Learn more about your ad choices. Visit megaphone.fm/adchoices

Nick Groover is 25, with a young daughter and a fiance, looking to make changes to his finances so he can start married life off on the right foot.He has some debts he'd like to knock out so he can start investing in real estate, and potentially start a business. He just got a promotion and a raise, and on paper is doing pretty good.But Nick needs to start budgeting, because a dollar here and five dollars there is eating up his overage, so there is very little to save.In today's episode, Scott and Mindy sit down with Nick to go over his current financial situation and use their life experiences to suggest easy wins to help pay down his debt, start saving for future real estate purchases, and start investing for retirement.Nick's in a good place right now, but following Scott & Mindy's suggestions should help him get money out of the way so he can go on to lead his best life!Links from the Show BiggerPockets Money Facebook Group BiggerPockets Forums Dave Ramsey Mobile Expense Tracking App - Waffles On Wednesday Check the full show notes here: https://www.biggerpockets.com/moneyshow149 Learn more about your ad choices. Visit megaphone.fm/adchoices

Chris Hogan joins Scott and Mindy today to chat about becoming an everyday millionaire.Chris and his team interviewed more than 10,000 millionaires to hear how they did it. Hard work, determination, spending less than you make, investing wisely, and eliminating debt.Chris shares how to discuss your finances with your spouse - and how to bring them on board when you have differing views about money. He talks about the emotional journey that debt paydown can take you on - and how to handle that so you come out on top!Chris also reveals his feelings about FIRE - and how there is too much focus on the RE and not enough on the FI. He wants you to become Financially Independent but also wants you to enjoy your journey.Chris firmly believes that anyone can become debt free and start to build wealth to become an Everyday Millionaire.Links from the Show BiggerPockets Money Facebook Group BiggerPockets Forums Dave Ramsey's 7 Baby Steps BiggerPockets Money Podcast 50 with Patrice Washington The Retire Inspired Quotient Check the full show notes here: https://www.biggerpockets.com/moneyshow148 Learn more about your ad choices. Visit megaphone.fm/adchoices

Cathleen Hutchins grew up in Hawaii. She come over to the mainland for college, but Hawaii kept calling her name, so she moved back home.Hawaii is an expensive place to live, and Cathleen knew she'd need a plan in order to reach financial independence if she was going to live there for the rest of her life.So she saved. She invested. She made smart decisions about her money and is continuously looking for ways to generate passive income to help fund her retirement.She has also sacrificed some comforts and norms to get to where she is today. She and her husband lived apart for a while, both living where there was a job for each of them, not always in the same state!But her sacrificing and saving has allowed her to move home to Hawaii, buy a house, and continue to pursue financial independence in a high cost of living area.Cathleen is well on her way to Financial Independence and her story is just another example of how following the proven path, you can get money out of the way so you can lead your best life.Links from the Show BiggerPockets Money Facebook Group BiggerPockets Forums BiggerPockets Money Podcast 35 with Craig Curelop BiggerPockets Money Podcast 95 with Craig Curelop BiggerPockets Money Podcast 120 with Michael Kitces BiggerPockets Money Podcast 144 with Kirk Chisholm Mr. Money Mustache Check the full show notes here: https://www.biggerpockets.com/moneyshow147 Learn more about your ad choices. Visit megaphone.fm/adchoices

Ambus Hunter grew up with a fair understanding of how money works. He received a partial scholarship to play drums in college, and graduated with a small amount of student loan debt.His first job was with the Department of Defense, making a decent salary for someone who had just graduated from college. He started saving his money, like a good FI-devotee does, but his story takes a sharp left turn.Ambus discovered gambling.At first, he was winning. (That's how it goes with gambling, right?) But then his "luck" changed. Because that's also how it goes with gambling, right?Ambus chased his losses, and ended up wiping out his entire savings account. That was when he knew he had to stop cold turkey.He then threw everything he had into building his savings back up, taking on extra jobs, living with roommates, and cutting out everything unnecessary in his life.In one short year, working nights and weekends, spending as little as possible, and throwing every dollar into his savings, he made it all back.Now Ambus helps guide others on their own path to financial literacy through volunteering and through his own coaching programs.Links from the Show BiggerPockets Money Facebook Group BiggerPockets Forums BiggerPockets Money Podcast 10 with Liz Thames BiggerPockets Money Podcast 143 with Shannon Gauthier How Gambling Away My Savings Strengthened My Relationship With Money Check the full show notes here: https://www.biggerpockets.com/moneyshow146 Learn more about your ad choices. Visit megaphone.fm/adchoices

Chelsea Brennan was a hedge fund manager for several years - until her second pregnancy when she ended up in the hospital with sever complications brought on by the stress and emotional toll her job took on her.She and her husband looked over their savings and investments, and decided that she'd leave her job in order to focus on her health and her kids.Her baby was born healthy, but their income went from six figures to zero figures, and she needed a way to bring some money in.She looked back on her love of teaching, and decided to start a website devoted to teaching women - and moms specifically - how to handle their money.Chelsea is truly passionate about teaching the power of financial independence and being in control of your life. Are you struggling with your finances? This episode is a cannot miss!Links from the Show BiggerPockets Money Facebook Group BiggerPockets Forums BiggerPockets Money Podcast 133 with Doc G Free Money Mamas Guide to Investing Check the full show notes here: https://www.biggerpockets.com/moneyshow145 Learn more about your ad choices. Visit megaphone.fm/adchoices

Kirk Chisholm is a fee-only investment advisor with a secret passion - finding new and different ways to invest money.Kirk shares his Big List of 75 Alternative Investments with us today - and more importantly, how to vet the investment vehicle to see if it's right for you.Not everything is a great fit for every person, and you certainly don't have to choose everything on the list. Play to your strengths when choosing investments and don't discount passion for an idea. If you HATE the thought of learning more about that investment vehicle, you won't put forth the correct amount of effort necessary to master it.Kirk also dives into how to sell these types of alternative investments - including at significant discounts if it's an illiquid asset that you need to liquidate fast. Secondary markets exist for all asset classes, and there are ways to pick up a good deal on the secondary market as well.If you're looking to diversify your portfolio, today's show is a can't-miss episode!Links from the Show BiggerPockets Money Facebook Group BiggerPockets Forums Against the Rules with Michael Lewis Podcast The Big list of 75 Alternative Investments Check the full show notes here: https://www.biggerpockets.com/moneyshow144 Learn more about your ad choices. Visit megaphone.fm/adchoices

Shannon Gauthier discovered the debt she and her husband had gotten themselves into when a debt collector caller her at work and she started asking questions.Shocked to discover $30,000 in unpaid debts, she quickly found herself a single mom as her husband left.She tried to pay them off as best she could, but found herself somedays deciding whether to buy a gallon of milk or a gallon of gas to get to work.Fast forward a year, and she met a new man who brought significant debt with him to the relationship - to the tune of $60,000!Each of their divorces added more debt to their pile and at the height their debt totaled $160,000. Their income trailed this debt at $65,000 and they knew they'd have to do everything in their power to knock out this debt.They moved in with his parents to pay lower rent and have someone to watch the kids while they worked. They couponed and did free things with the kids to be able to throw every single dollar they could at their debt.This approach paid off, because by the end of the year, they will be completely debt free and be able to start saving and investing and working toward financial freedom.If you're in debt and see no way out, this episode will show you there IS a way to paying down your debt, that it isn't always easy, pretty or fun, but it CAN be done.Links from the Show BiggerPockets Money Facebook Group BiggerPockets Forums Dave Ramsey Pinterest BiggerPockets Money Podcast 130 Mindy's email Check the full show notes here: https://www.biggerpockets.com/moneyshow143 Learn more about your ad choices. Visit megaphone.fm/adchoices

Scott & Mindy sit down today to answer questions sent in by listeners. They address topics all over the board - from student loan repayment and early retirement account withdrawal under the CARES act, to the best high-yield savings accounts, and planning for the gap between early retirement and traditional retirement age when you can access your retirement accounts penalty free.Scott & Mindy also discuss different investing platforms as well as retirement planning, taxes, and even how inflation might affect your retirement future.They take a couple of calls from listeners to chat about the best current use of retirement funds. This episode will help clear up some of the questions you may be having on your road to early financial independence.Links from the Show BiggerPockets Money Facebook Group BiggerPockets Forums Robinhood Facing Multiple SEC Investigations Into Its Business Practices How to Access Retirement Funds Early What Is a Self-Directed Brokerage Account? BiggerPockets Money Podcast 119 BiggerPockets Money Podcast 116 with JL Collins Check the full show notes here: https://www.biggerpockets.com/moneyshow142 Learn more about your ad choices. Visit megaphone.fm/adchoices

Blake Nielson is a college professor whose wife stays home to raise their four children. Despite having only one income - and six mouths to feed - they have paid off their home and are on the path to early financial freedom. Blake currently loves his job and has no plans to stop working - but still wants the freedom that financial independence gives.So how did he do it? He started off debt free from college, a HUGE leg up in life in general. Blake details just how he accomplished this feat, from college selection to funds available, scholarships and even working during the school year and especially during the summers between.Blake even shares a Solid Gold tip for finding out about scholarships that aren’t well publicized!Blake also strategically chose where he lived during his college years. He specifically chose a rental that was priced significantly lower than the “college” rentals in town - but still close enough to walk to school.There is no secret to Blake’s success. He put in the work at an early age and is on track to hit lean FI by age 40 and Fat FI by 45. Spend less than you earn, invest wisely. Blake shows you can live the FI life with four kids and one income.In This Episode We Cover: Blake's money story Simple principles of frugality 4 keys that any person can go to college debt free Talking about school selection How he budget his money House hacking Talking about scholarships His experience after getting a PhD Blake's job The problem that most people have with negotiation And SO much more! Links from the Show BiggerPockets Money Facebook Group BiggerPockets Forums BiggerPockets Money Podcast 80 with Rich & Regular BiggerPockets Money Podcast 32 with Mr. & Mrs. PoP BiggerPockets Money Podcast 64 with Zach Gautier Check the full show notes here: https://www.biggerpockets.com/moneyshow141 Learn more about your ad choices. Visit megaphone.fm/adchoices