Latest Episode • August 19, 2019

BiggerPockets Money Podcast 86: Choosing the Right Investment Type for Your Goals with David Stein

David Stein reached out to us after Erin Lowry’s Episode 81, where we talked about the basics of investing. He really liked that episode, and wanted to dive a little further into the different TYPES of investments you can choose from. In this episode, we explore asset classes we haven’t really discussed before: Closed End Mutual Funds, REITs, Mortgage REITs, and the different types of stock you can buy. (Yes, there is more than one!) We even touch on Gold and Cryptocurrency! Investing isn’t limited to stocks, bonds and real estate, and David introduces these ideas so you can start investigating the asset classes that appeal to you and works best for your financial goals. David also shares his Investing Principles and his top tip is so simple, yet such an EXCELLENT piece of advice: Be able to describe in detail what you are investing in. If you can’t, you’re not ready to invest in that just yet. If you’re looking for different asset classes, better returns or even just to diversify your portfolio, this episode is a must-listen! ... show more

BiggerPockets Money

One of the most frequently asked questions in the BiggerPockets forums is "How can I start investing in real estate with no money and bad credit?" The answer? You can't (Well, to be more accurate, you probably shouldn't). You need to fix your "No money and bad credit" situation and invest from a position of financial strength. Co-hosted by BiggerPockets' Scott Trench and Mindy Jensen, this podcast provides the education you didn't get in school. You'll get tips for getting your financial house in order and actionable advice from guests who have been in your shoes - and found their way out.

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Previous Episodes

August 12, 2019

BiggerPockets Money Podcast 85: From Financial Disaster to Financially Free with Jacob Wade from I Heart Budgets

Jacob Wade knew nothing about money growing up. Any money he made at his mall jobs was instantly blown on mall food and silly teenage expenses. His father passed away when he was 4, leaving him an inheritance of $100,000 when he turned 18. Jacob quickly spent it on a truck, customized to the hilt. He soon had nothing to show for it, and at his lowest point, had to move in with his girlfriend’s mother, because he had no money to pay rent. Enter Dave Ramsey’s Total Money Makeover. Jacob devoured this book and of course, lightbulb! Jacob did what most new-to-FI people do, he cut out everything! He started tracking his spending and preaching to everyone who would listen. Finally fed up with his constant preaching, his wife said “I don’t want to hear about this anymore - go start a website!” And I Heart Budgets was born, where Jacob could preach to his heart’s content. Jacob and his family are now on a year long road trip around America, a mini-retirement to spend time with their young children before school starts, taking advantage of their financial position. Later in the episode, Jacob drops a knowledge bomb on Mindy & Scott, sharing the existence of the “Spousal IRA,” a way for non-working spouses to contribute to an IRA. Thinking you made such a big mess of your finances that you won’t ever recover? Jacob’s story shows that it’s never too late to start, and that poor financial choices don’t have to define you. ... show more

August 5, 2019

BiggerPockets Money Podcast 84: Traditional Retirement: Social Security, Market Conditions & Managing Expectations with Kyle Mast

Kyle Mast first visited us on Episode 41 of the BiggerPockets Money Podcast, and he BLEW US AWAY with his suggestions, ideas, tips and tricks for early retirement. Kyle is back again today to talk more to traditional age retirees - those of us who are retiring at or near age 65. Retiring now can seem scary - the market is near all-time highs and has been so for a very long time. Markets are cyclical and unpredictable. Kyle shares how to ride out the storm with strategies to manage both behavior and emotions. He’s a big fan of Retirement Fund Dates - but not of putting all your retirement eggs into one fund-date basket. Kyle also looks at Social Security and covers several scenarios to help you decide when to start receiving your benefits. Kyle is a fee-only Certified Financial Planner - and this episode shows time and again just how valuable a consultation with a CFP can be. If you’re nearing traditional retirement age - and you’re not quite sure what’s next - THIS episode is especially for you. ... show more

July 29, 2019

BiggerPockets Money Podcast 83: Buying Your First House with Scott & Mindy

Buying your first home—either an investment or a primary residence—can be scary. It is a HUGE purchase, and no one wants to mess it up. But it's entirely possible to eliminate some of the fear associated with the house-buying process if you’re properly prepared. This week, Scott and Mindy sit down and talk about the whole ordeal, including what you need to consider BEFORE you even start looking at houses, as well as what to REALLY look for when you’re trying to find the best property for you. They also talk about different funding options, different purchasing strategies, and even different ways to hack your housing and live for free—or make big money when you sell. If you’re in the market for your first property (or second or third) or you’re just starting to think about buying a house for yourself, this is an episode you cannot miss! ... show more

July 23, 2019

BiggerPockets Money Podcast 82.5: Money Dates, Prenups, & Combining Finances with Aditi Shekar

Talking to your partner about money can be very difficult—especially when you’re bringing up the conversation for the first time. In this episode, we brought back Aditi Shekar to discuss finances from a couple’s point of view. Previously, we heard Aditi’s personal money story, but this time she shares tips for speaking to your partner about your finances. Learn how to go on a “money date,” what she describes as her “$20 prenup,” and why she feels everyone should have one. She also shares her guide to combining your finances. In fact, Aditi is so passionate about personal finance in general—and couples’ finances specifically—she created an app to help you share and discuss finances with your partner! Zeta is a personal finance app designed for couples to help you stay on top of your finances together. If you’re looking for a way to talk about money with your partner, this episode was made especially for you. ... show more

July 22, 2019

BiggerPockets Money Podcast 82: Early Money Lessons Create Healthy Money Experiences with Aditi Shekar

Aditi Shekar learned entrepreneurship at a very early age - when she asked her father for a toy and he said no, make your own money. She’s been creating businesses ever since. Her father’s advice wasn’t the only great money management tips she received early on. In college, a finance professor did two entire classes on personal finance, sharing the benefits of starting early to save for retirement. Her financial independence journey was kickstarted when her apartment burned down - and she had no renters insurance. “I don’t want more stuff. I just want to figure out the life I want to lead.” Aditi and her husband took a roadtrip to discover where they wanted to live, and ended up in two separate cities, visiting on the weekends. Time apart made them realize they wanted to be together, so she moved to him, and started the life she truly wanted. ... show more

July 15, 2019

BiggerPockets Money Podcast 81: The Basics of Investing with Erin Lowry from Broke Millennial

Erin Lowry last joined us on Episode 24 of the BiggerPockets Money Podcast, where she talked about getting Financially Naked with your partner. She’s back today to talk about investing - and all the things many people don’t really know. Erin shares the basics that so many articles and podcasts gloss over - but that are so important to know in order to be financially successful. She also has a new book out: Broke Millennial Takes On Investing: A Beginner’s Guide to Leveling Up Your Money, where she tackles investment basics. If you’re new to investing, or just having trouble figuring out all the terminology, this episode is right up your alley. ... show more

July 8, 2019

BiggerPockets Money Podcast 80: Managing Money: How a Saver & a Spender Are Living Happily Ever After with Rich & Regular

Kiersten and Julien came from two very different money backgrounds. She’s the naturally spendy one, and he’s the natural saver. Their money views came to a head on their first vacation, when she put everything on a credit card—not to earn reward points—because she didn’t have the money to pay for it. The ensuing argument caused them to have some pretty tough money conversations very early on in their relationship. But it also set them up for early financial freedom. Kiersten decided her old, spendy ways weren’t what she wanted out of life. She started shedding her “things” so that she could pay off her debt and start investing. They researched and discovered a hole in the FI community. There just weren’t many blogs devoted to the African American community that focused on tips about money and early financial freedom. So, they started their blog, Rich & Regular, to bridge this gap. Investing in real estate helped create enough passive income for Julien to leave his corporate job, and for the couple to start living the life they truly want. Plus, don’t miss when Julien casually drops one of the best paying-for-college tips that’s ever been shared on this show. If you’re struggling with spending too much money or reconciling your frugal ways with that of your partner, this is a must-listen episode. ... show more

July 1, 2019

BiggerPockets Money Podcast 79: Financial Freedom Through Decades of Hard Work and Hustle with Carol Scott

Carol Scott has a successful real estate investing company that she runs with her husband, Jay. They have two children, live where they want, and enjoy life on their own terms—free from the stress of having a “real” job, a boss, and all the time constraints that come along with it. But it wasn’t always this way for her. Carol grew up without a lot of money. Her financial journey really began at age nine, when her mother told her if she wanted to have nice shampoo, she had to figure out a way to earn money to buy it. Enter Carol’s hustle. Whenever Carol wanted to buy something, she started a new entrepreneurial endeavor—face painting, calligraphy, anything related to art was fair game for young Carol. At age 15, she hopped onto her bike and rode up to the convenience store, all but demanding to work there. She graduated college into a job where she had regular access to the C-Suite. Mentorship opportunities abound. Carol’s focus turned to learning, and she picked up tips from every person she encountered. She’s here today to share many of these tips with you and to inspire your journey through her own. This is a tale of never giving up and not being satisfied with what life throws at you. Now go out and grab the bull by the horns. ... show more

June 24, 2019

BiggerPockets Money Podcast 78: How to Talk to Your Parents About Money with Cameron Huddleston

Parents are supposed to know everything, and talking about money is impolite. So how do you make sure your parents are taken care of and that their wishes are followed throughout their golden years? Today Scott and Mindy sit down with Cameron Huddleston, author of Mom and Dad, We Need to Talk: How to Have Essential Conversations With Your Parents About Their Finances, who shares her story of the journey through her mother’s finances pre- and post-Alzheimer’s. Cameron also shares the documents your parents need to have—the documents YOU need to have—to be able to help them navigate their finances as they advance in age. She offers encouragement for continuing the conversation after parents initially say, “That’s none of your business.” She explains everything from the perspective of someone who has been through the more difficult times of parental financial navigation. BiggerPockets Money guests have typically focused on their own journey to financial freedom. But this episode provides guidance for starting challenging conversations with your parents. Use Cameron’s advice to sit down with them and make sure their wishes are followed. ... show more

June 17, 2019

BiggerPockets Money Podcast 77: Entrepreneuring Your Way To Financial Freedom with Pete Mockaitis

Pete Mockaitis grew up in the cheapest place to live, Danville, IL. He watched his mother work her way up the local credit union ladder from teller to CEO, simply by doing more than necessary, repeatedly. His mother strongly discouraged debt, having seen so many of the credit union’s customers declare bankruptcy and have their entire bank accounts wiped out. As a kid, he saw firsthand that hustle pays off. He helped his brother with his paper route for a quarter, only to learn his brother was making $1.80. After high school, he got into college on a full ride scholarship, and graduated into his dream job with Bain & Company. He saved money by skipping the little things like taking a cab when he could walk, having roommates instead of living alone, and drinking water instead of ordering drinks when he was out. Pete’s true calling was entrepreneurship. To prepare for the jump to self employment, he figured out his burn rate - and discovered it was a lot lower than he originally thought. By figuring out how much he was spending, and computing the value of his pre and post tax time, Pete optimized his path to Financial Freedom, and is now enjoying the fruits of his labor. ... show more

June 10, 2019

BiggerPockets Money Podcast 76: How to Talk to Your Partner About Money With the Debt Free Guys

John and David didn’t have "the money talk" right away. They both worked in the financial industry, and each thought the other would be great with money. About a year and a half in, they discovered they were both AWFUL with money. Both had lots of debt with no real plans to pay it off. Enter the spreadsheet. David is a self-professed numbers nerd. He entered every expense from the last 12 months into a spreadsheet and discovered some shocking spending habits in several categories. These were places they could easily cut their spending so they could start paying down their debt. And like everyone else who finally figures out money, they hit it hard—planning menus, making grocery lists, and clipping coupons. (They didn’t buy anything they didn’t have a coupon for!) Rather than the debt snowball or debt avalanche methods, they approached their debt paydown with a new method: the debt lasso. They gathered up all their debt—mostly credit card—transferred it to 0% interest cards, and hit the payments hard. In the process, David and John discovered that no one is talking about money in the LGBTQ community. So they set out to change that, opening up the topic to help their community stop being fearful of money and start aligning their spending with their values. ... show more

June 3, 2019

BiggerPockets Money Podcast 75: The Most Efficient Path to Financial Freedom With Justin From Saving Sherpa

Justin grew up without a lot of money in a small town. His parents divorced when he was eight, and his mother eventually quit her job to attend school. Necessity is the mother of invention, and a yearof no income led to some very creative ways to squeeze more value out of every dollar. This "invention" stayed with Justin for his entire life, and he applies it to every facet of his finances. From his very low rent (in a high rent area) to his ridiculously low grocery bills to collecting travel rewards points, Justin gamifies every cent he spends. Today we hear how Justin actually made money from his college scholarships and military stipends, how he negotiated a smoking deal on his rent, and how his five tenets of grocery shopping pay off. Justin calls this "the lazy path to financial independence," but really he’s just being incredibly efficient with his resources. If you’re looking to cut expenses, listen to this show with a notepad handy. ... show more

May 27, 2019

BiggerPockets Money Podcast 74: Making Money From a Legitimate Side Hustle With Mark Wills

Side hustle is a big topic on BiggerPockets. But finding the right one—and one that isn’t a scam—can be difficult. Today’s episode focuses on not only a legitimate side hustle, but also one that involves real estate AND can be as much or as little as you want it to be. Best of all, the most popular time to use this side hustle is at night and on the weekends. Signing agents work when their clients don’t—meaning they’re busiest at night and on the weekends—perfect for an actual side hustle. Startup costs are extremely low. They hover around $1,000. Working four to six jobs will pay off your initial investment! Mark Wills shares what you need to get started and how to find jobs once you’re all ready to go. If you’re looking to generate extra income, this episode is right up your alley. ... show more

May 20, 2019

BiggerPockets Money Podcast 73: Ramit Sethi Will Teach You to Be Rich!

Ten years ago, Ramit Sethi released his groundbreaking book I Will Teach You to Be Rich. Now he’s back, with an all-new, updated version, delivered with the same authority and enthusiasm as the original. But wait, there’s more—MUCH more! Ramit has completely revamped this book. There’s over 100 brand new pages of content! Mindy and Scott talk to Ramit about his take on the FIRE movement, what “rich” means to him, and his opinion of real estate as an investment. When you’re looking for excuses to not get started repairing your finances and living your best life, you’ll find them everywhere. But when you’re ready to get your financial life in order and grow your wealth, Ramit’s book will not only help you define the term “rich,” but will also give you the tools to get there—without the guilt, without the B.S. It’s just a six-week program that works. ... show more

May 13, 2019

BiggerPockets Money Podcast 72: Increasing Your Income Through Commissions With Dawn Brenengen

Dawn Brenengen’s money story begins a bit differently than most. Dawn’s parents shared their finances with her. She knew what things cost, she knew her parents worked hard to pay off their mortgage, and she saw her mother writing checks to pay bills every month.She went to college and graduated with relatively little debt—around $21,000 in student loans and credit cards combined. After graduation, she stayed at her low-paying college job until her father suggested she get a real estate license. Dawn completed the work for the license and got a job making almost the same money, working for a builder and selling their new homes. But she was the assistant to the agents who were making the BIG BUCKS, and she knew that’s what she really wanted to be doing.At the time, real estate agents were eligible to take the test to open up their own brokerage simultaneously with the licensing test, so she did that. While working as an assistant, she laid the groundwork to strike out on her own, eventually ramping up her income to multiple six-figures—with virtually limitless potential.Here Dawn share her story of how hard work and determination paid off tenfold—and all in just four short years! ... show more

May 6, 2019

BiggerPockets Money Podcast 71: 5 Years to Financial Freedom Through Real Estate Investing With Sarah P.

Like so many of our guests, Sarah P. did not grow up understanding how money works. She wasn’t bad with money, she just wasn’t very good with it. She learned about financial independence through Mr. Money Mustache and completely revamped her finances, incorporating frugality and minimalism with investing to completely fund her lifestyle. Her goal was security, and financial freedom made a lot of sense.Real estate was intriguing, and Google kept directing her to BiggerPockets. She started buying real estate, eventually accumulating 14 units in three states over the course of four years.Sarah cemented her success by having a large cash cushion to shield her from the surprises that real estate throws at you—a trait most successful real estate investors have.Making smart, money-conscious decisions allowed her to retire at the age of 30 from traditional work, so she can now spend time doing what she loves without regard to how much it pays. Sarah and her husband are truly living their best lives because passive real estate investments fund everything they do. ... show more

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BiggerPockets Money Podcast 86: Choosing the Right Investment Type for Your Goals with David Stein

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Previous Episodes

BiggerPockets Money Podcast 85: From Financial Disaster to Financially Free with Jacob Wade from I Heart Budgets

BiggerPockets Money Podcast 84: Traditional Retirement: Social Security, Market Conditions & Managing Expectations with Kyle Mast

BiggerPockets Money Podcast 83: Buying Your First House with Scott & Mindy

BiggerPockets Money Podcast 82.5: Money Dates, Prenups, & Combining Finances with Aditi Shekar

BiggerPockets Money Podcast 82: Early Money Lessons Create Healthy Money Experiences with Aditi Shekar

BiggerPockets Money Podcast 81: The Basics of Investing with Erin Lowry from Broke Millennial

BiggerPockets Money Podcast 80: Managing Money: How a Saver & a Spender Are Living Happily Ever After with Rich & Regular

BiggerPockets Money Podcast 79: Financial Freedom Through Decades of Hard Work and Hustle with Carol Scott

BiggerPockets Money Podcast 78: How to Talk to Your Parents About Money with Cameron Huddleston

BiggerPockets Money Podcast 77: Entrepreneuring Your Way To Financial Freedom with Pete Mockaitis

BiggerPockets Money Podcast 76: How to Talk to Your Partner About Money With the Debt Free Guys

BiggerPockets Money Podcast 75: The Most Efficient Path to Financial Freedom With Justin From Saving Sherpa

BiggerPockets Money Podcast 74: Making Money From a Legitimate Side Hustle With Mark Wills

BiggerPockets Money Podcast 73: Ramit Sethi Will Teach You to Be Rich!

BiggerPockets Money Podcast 72: Increasing Your Income Through Commissions With Dawn Brenengen

BiggerPockets Money Podcast 71: 5 Years to Financial Freedom Through Real Estate Investing With Sarah P.

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