BiggerPockets Money Podcast

Jean grew up in a family where money wasn’t a big issue. Her parents saved for big purchases like vacations, but frugality was part of her everyday life. She graduated from college without any debt, and soon found a job - that she immediately regretted accepting. She moved quickly to change course, and ended up in a job that paid less than half of that first one - but was so much better for her. A freelancing side job to supplement her income evolved into a full-time Journalism career with Smart Money magazine, which led to a 25+ year stint with the Today Show as their financial editor.But Jean wanted more. She created HerMoney, a place for women to learn about how to properly handle their finances. Jean knew that your money story is the root of your relationship with money. She created a place and space for you to recognize your money story - and figure out how to apply deep-seated lessons learned consciously and subsconsiously - to lead your best financial life!In this Episode We Cover: Jean's journey with money Her financial position before and after college How her financial habits changed The importance of prioritising decision making Her job on Smart Money Magazine What she learned in reporting women with money On HerMoney Happy Hour The outcomes of the conversations at Happy Hour that might surprise men The reason why couples are reluctant to talk about money How to start the conversation with a partner who doesn't want to talk about money The first thing a woman needs to do to start changing her financial situation The importance of prenup Links: BiggerPockets Money Podcast 04: Eliminating Over $30,000 in Debt Through Extreme Organization with Former State Trooper Rosemarie Groner BiggerPockets Money Podcast 24: Getting Financially “Naked” with Your Significant Other — With Erin Lowry BiggerPockets Money Podcast 81: The Basics of Investing with Erin Lowry from Broke Millennial BiggerPockets Money Podcast 39: From “Bad with Money” to Intentional Saving and Spending with Jamila Souffrant BiggerPockets Forums Modern Love - The New York Times Scott's Email Connect with Jean: Jean Chatzky's Website HerMoney HerMoney Newsletter HerMoney Podcast Learn more about your ad choices. Visit megaphone.fm/adchoices

Sunitha Rao remembers a childhood of scarcity. Born to immigrant parents, some of her first memories are of her home being broken into, and her things being stolen. The only money lessons she was taught as a child were frugality and saving, because you never knew what was going to happen.Her father had grand tennis plans for her, and pushed her into tennis. By age 9, she was playing tennis six hours a day. School was so low on the priority list she dropped out in 6th grade to pursue tennis full time.She turned pro at age 14, but all the money she made went back into her career: coaches, travel to events, more training.When Sunitha retired from tennis, she had nothing left. She estimates she “maybe had $1000 in the bank.” Her relationship with her father was so abusive, she sought a restraining order against him and started over, rebuilding her life at age 23.Starting off at community college, looked up endowment programs in Boston because she liked the city, and reached out to colleges that offered scholarships. Finishing college she got a corporate job, which was her goal - until she started working there. She realized her corporation didn’t have any loyalty toward her, so she started looking for ways to generate income outside of her salary and discovered real estate.She now owns multiple units in the midwest, and is on the path to financial independence, starting with nothing but a 6th grade education at age 23. If you’re thinking you started too late, Sunitha’s story shows that financial independence is possible - at any age.In This Episode We Cover: Sunitha's journey with money On having a scarcity mindset around money How she turned into a professional tennis player at age 14 What happened to her money being a professional tennis player Wanted to succeed in the corporate world Her journey at a community college How she found endowment programs Pros and cons about going to college at different age bracket Her highs and lows point being a professional tennis player What realization that sparks her journey to financial independence Had their house governed by domestic abuse Believed on being diversified Started real estate business at Indianapolis What her goals going forward On domestic and financial abuse How did she leave from a domestically violent relationship And SO much more! Links: BiggerPockets Forums The Domestic Violence Hotline - 1-800-799-SAFE GRIFFIX Property Group Learn more about your ad choices. Visit megaphone.fm/adchoices

You probably know Brandon Turner from the BiggerPockets Real Estate Investing podcast. On that show, he sounds like he’s got his life all together. But before he discovered the RIGHT way to do real estate, he made mistakes. LOTS of mistakes.Today, Brandon shares everything he did wrong - from financing rehabs with a credit card to accumulating six figures in debt on properties he couldn’t sell.But the most important thing Brandon did was learn from his mistakes. He read Total Money Makeover by Dave Ramsey and put the lessons learned from that book into action, paid off his debt and started living the life he truly wanted.The episode is for people who’ve made mistakes, who are in debt or struggling to find a path to financial freedom. Brandon shows you that it’s OK to make mistakes, you CAN recover, and the life you want is within your reach.In This Episode We Cover: Brandon's journey with money How to learned negotiating from his mother The reason his mom bought him a book on how to handle money His financial position after college How he got a No-Doc loan Bought properties to flip and turned them into rental properties What hard money loan is His rock bottom experience Read a hundred books on real estate The reason he got into buying rentals How he convinced his wife to invest in rental properties Started saving money by doing the cash envelope system What seller financing is How he bought his 24-unit apartment The importance of building integrity How they met Josh Dorkin His balance sheet when he retired Brandon's advice on investing Links: BiggerPockets BiggerPockets Real Estate Podcast BiggerPockets Business Podcast BiggerPockets Forums The BiggerPockets Book Store BiggerPockets Money Podcast 42: How to Invest in Real Estate with Joshua Dorkin & Brandon Turner Rental Property Calculator from BiggerPockets The Dave Ramsey Show Podcast Movement Learn more about your ad choices. Visit megaphone.fm/adchoices

On today’s episode of the BiggerPockets Money Podcast, Co-Host Scott Trench teams up with two personal finance superstars in Whitney Hansen and Doc G of Diversefi.com. Together, they hear four “life after FIRE” stories, each completely different, each extremely powerful. We talk with a business owner struggling with millions of dollars in debt who was able to sell his business, re-write his career (he is now a business coach), and get a new handle on his time. Another guest retired with her husband in 2012 and together, they took on adventures and traveled the world together. Financial independence made all the difference for them in allowing them to experience as much of the world as possible, as her husband passed away a few years following early retirement. A third couple left their high paying jobs at the height of their earning potential to travel the world together, and they could not be more thrilled with their decision or excited about life. And finally, we interview the CTO of ChooseFI, William, who was able to retire early, overcome the loss of his wife, and use his financial freedom to pursue the job of his dreams with a great company, and provide for his children.  These stories highlight the importance of achieving Financial Independence and using it to make the most of our lives. In This Episode We Cover: What their life looks like after FIRE and the challenges they faced William's journey to financial independence The advantage of being financially independent in the workplace How they plan for caregiving Tim's background Financial Independence Rewired Early The importance of having a clear second act The difference between working on his business and working as a coach The FIRE life Tim's advice for anyone who's looking to pursue financial independence Rachel and Paul's backgrounds On their mission 50 by 50 Oma's background On healthcare cost Links: Mr. Money Mustache Mad Fienstist The Money Nerds Podcast What's Up Next Podcast Altus Business Advisors Tim's email Learn more about your ad choices. Visit megaphone.fm/adchoices

You know Vicki Robin as the author of Your Money or Your Life, but on today’s show, we dive MUCH deeper into her story and her background. Growing up without a lot of money, she learned how to use her resources to appear as though she had more. With limited funds, her mother taught her that she could use them all at once on one thing, or she could stretch them further by shopping at a discount store.Vicki carried these lessons through her adult life, moving into homesteading and while, technically living under the poverty line, she never felt the pinch of not having all the trappings of the modern world.In fact, it wasn’t until she met Joe Dominguez, learned the foundation of what would later become Your Money or Your Life, and started teaching others about how to handle their finances that she realized that the gap between what she had and what others had was quite vast.She knew she had to appear prosperous, so people wouldn’t reject her message simply by her appearance.Her message has reached more than one million people, and has changed the lives and financial futures of countless more. Vicki herself has been able to focus on her passion - environmental issues - and has the freedom to pursue her passions due to her fully funded retirement at such an early age.In This Episode We Cover: Vicki's journey with money On having a poverty mentality On how to appear prosperous to other people Survival thing for social animals How the behaviours of her peers differed from hers On working with Joe Dominguez What her journey looks when she wrote the book, "Your Money or Your Life" Her concern re climate change Resource sharing How the financial independence movement evolved Capitalist game The levels of financial independence Freedom to have new interests and following them Her advice on life circumstances Vicki's living situation right now and how she used real estate And SO much more! Links: Financial Independence - Reddit Mr. Money Mustache Mad Fientist BiggerPockets Money Podcast 58: Optimizing Every Channel to Achieve Financial Freedom with Grant Sabatier Millennial Money Dollar Revolution BiggerPockets Money Podcast 55: How to Quit Your Job and Travel the World with Millennial Revolution Profiles: Your Money or Your Life Vicki Robin's Website Your Money or Your Life Facebook Community Learn more about your ad choices. Visit megaphone.fm/adchoices

Financial Mechanic wanted a puppy - and her parents told her she could have one when her little sister turned her age (in four years). When she asked how much puppies cost, she was told $100. So Financial Mechanic started saving. Everything!Birthday money, Christmas money, anytime she received a dime, it went into her puppy fund.Fast forward 4 years, and she tries to hand over the $100 - to her parents shock. “No, you keep that, we’ll buy the puppy.”For four years she had been saving, so she just continued. By the time she graduated high school, she had $8,000 in savings. Her parents paid for her college education, and she knew she wanted options. She studied Mechanical Engineering which led to programming, which led to a 6-month assignment overseas. Upon her return, she discovered mass layoffs - and that she was significantly underpaid!In this episode we talk about how to prepare for an interview, how to negotiate salary, how salary isn’t the only thing you can negotiate, and how intentionally pursuing a goal can help you achieve it faster and easier.In This Episode We Cover: Financial Mechanic's journey with money Saved money to buy a puppy The importance of focusing on your future opportunities Graduated college debt-free Her money situation during her first internship Earning a lot of money before she discovered financial independence How his mindset changed the moment she found financial independence How her money journey evolved On her career Did research on glassdoor for salary range How she got her signing bonus What her end-goal is How she lived $20,000 a year And SO much more! Links: Glassdoor Personal Finance on Reddit Mr. Money Mustache Forum - Bogleheads Personal Capital Achieving FI Before 40 Despite Breaking Every Financial “Rule” with Tanja from Our Next Life BiggerPockets Money Podcast 10: Designing a Frugal But Luxurious FI Life by Age 32 with Liz Thames Every Dollar I Spent Last Year How to Effectively Ask for a Raise (from Someone Who's Done It Twice) How To Make Your Significant Other Hate FIRE The Psychology of Money– 4 Ways Your Brain is Working Against You Connect with Financial Mechanic: Financial Mechanic Financial Mechanic's Twitter Financial Mechanic's Instagram Learn more about your ad choices. Visit megaphone.fm/adchoices

Wilson Muscadin grew up knowing how to handle money. His father assigned him “book reports” rather than simply giving him an allowance. But the books he read were personal finance books, like Rich Dad, Poor Dad, The Millionaire Next Door and Think and Grow Rich.Unsurprisingly, Wilson learned a lot from reading these books. Well played, Dad Muscadin. Wilson handled his finances intelligently through high school and into college, where he saw so many friends making ridiculous mistakes with their money. Things like charging pizza and gas - and not paying off the credit card bill at the end of every month!He graduated with very little undergrad debt and worked in corporate insurance, but always wanted to teach people about finance. Back to school for an MBA at Duke - and more than $100,000 in student loan debt!!!Wilson’s path to teaching people how to fix their finances was cemented when a random Facebook post about paying off his student loan debt (4 months after his first son was born) garnered more comments and questions than the post about the birth of his child!Wilson paid off his debt, now has two sons, moved across the country and is dedicated to helping more people understand how money works, and break the cycle of paycheck-to-paycheck so they can become financially free.In This Episode We Cover: Wilson's journey with money Had an open discussion with his dad about money growing up  Money books he read The reason why he did not pursue as a financial advisor The importance of having a financial literacy The perfect environment on getting our kids to learn financial education What lifestyle changes did they make in order to save money and pay off their debt Got a lot of comments after he posted on Facebook that he paid off his student loan debt Focused on having a baby fund and 2 years expense fund after paying off their debt How he started doing financial coaching Mistakes that other people make with their finances The first thing he teach people to do with their finances And SO much more! Links: Blogger Net Worth Tracker - Rockstar Finance Directory My Fab Finance Mindy Jensen Scott Trench Connect with Wilson: The Money Speakeasy Facebook Instagram Twitter Learn more about your ad choices. Visit megaphone.fm/adchoices

One of the most commonly asked questions in the BiggerPockets Forums is “How do I get started investing in real estate with no money?” Craig Curelop has the perfect answer to this question - House Hacking!Craig shares his own story of three house hacks - and counting! We dive into the numbers, look at what makes a good property to house hack, and even talk about the different ways to hack your housing.Craig also shares ways he dealt with people who didn’t understand what he was doing - including his family and most of his friends. Craig even shares his biggest house hacking mistake - how not following his tenant screening protocol led to a terrible experience.If you’re thinking about jumping into house hacking, this episode lays it all out.In This Episode We Discussed: Craig's journey with house hacking  Craig's numbers on his first house hack What PMI is Craig's PMI monthly payment How he leverage his first house hack into the second house hack Craig's numbers on his second house hack The importance to consider the occupancy law How he bought his third house hack Craig's numbers on his third house hack How he managed all his rentals How to find a property manager The idea of sacrificing comfortability and profitability Advantages on house hacking What kind of property makes for a good house hack On luxurious house hack Getting pushback about house hacking Craig's biggest house hacking mistake and how to prevent it Things that is important when it comes to house hacking And SO much more! Links: BiggerPockets Money Podcast 35: Hacking Your Life to Live for (Almost) Free with Craig Curelop BiggerPockets Podcast 244: “Unfair” Taxes and Unfair Advantages with Linda Weygant, CPA BiggerPockets Podcast 350: How to House Hack Your Way to Financial Freedom in 3 Years with Craig Curelop BiggerPockets Money Podcast 02: An All-Out Approach to Financial Independence at an Early Age with Scott Trench BiggerPockets Forums BiggerPockets Blog Tenant Screening: The Ultimate Guide Learn more about your ad choices. Visit megaphone.fm/adchoices

The absolute MOST FREQUENTLY ASKED question I get about Early Retirement is “What do I do about healthcare?”Without going into too much detail, we’re all aware that healthcare costs are fairly ridiculous in America. Not properly planning for healthcare can be catastrophic - one unexpected event can literally wipe you out.Lynn Frair from FIHealthcare.com joins us today to share the results of her intense research into the options available to early retirees. She has found 18 different healthcare options and shares them with us. She also has created a crowdsourcing database for other options. (If you’ve got a different way to procure healthcare, she’d love to include it in her database!)If you are on the path to financial independence, you NEED this episode. In This Episode We Cover: How Lynn became interested in financial independence How she began investing at age 12 The process of researching healthcare options 18 different options for healthcare Healthcare prevention The difference between deductibles, co-pays, and premiums And SO much more! Links: Mr. Money Mustache Reedit Military Dollar Bloomberg HealthCare.gov FinCon BiggerPockets Money Podcast 80: Managing Money: How a Saver & a Spender Are Living Happily Ever After with Rich & Regular Rich & Regular From Childhood Poverty to Financial Freedom by Age 32 with Jillian Johnsrud Montana Money Adventures EconoMe Conference Profiles: Nurse Numbers Lynn's email FI Healthcare Learn more about your ad choices. Visit megaphone.fm/adchoices

All the BiggerPockets podcast hosts on stage in one place! This bonus episode was recorded at the BiggerPockets Conference 2019 on October 7th in front of a live audience of more than 1,000 people at the Gaylord Opryland Resort in Nashville, Tenn.We turned the mics over to our members, who fired a bunch of great questions at Scott Trench and Mindy Jensen, Brandon Turner and David Greene, Joshua Dorkin, and J and Carol Scott.Our panelists covered some nitty gritty real estate topics, like tackling vacancy and how to invest IRA funds, as well as big-picture concepts like motivation, marketing, and teaching family members the importance of investing at an early age.Also, everyone reveals which animal they would be if they had to choose, and a member of the audience challenges David Greene to produce an analogy on the spot. Listen to find out whether he performed under pressure! Our first conference in seven years was a big success, and we’re so thankful to everyone who came out to learn, network, and have a great time.Download this bonus episode, and be sure to subscribe to all three shows BiggerPockets Real Estate Podcast, BiggerPockets Money Podcast, and BiggerPockets Business Podcast so you won't miss an episode. Learn more about your ad choices. Visit megaphone.fm/adchoices