Afleveringen
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The stock market is shifting, and your portfolio needs to change NOW if you want to reach or stay FIRE (financial independence, retire early). Many early retirees are sitting anxiously, watching their net worth fall by 10% (or more), making each withdrawal from their portfolio increasingly risky. If you’re close to financial independence or are retired early already, you CANNOT risk losing the gains you’ve worked so hard for. This is what we’re doing NOW to keep our FIRE portfolios crash-resistant.
Last month, Scott talked about his big decision to sell off a chunk of his index fund portfolio in fears of overvalued stock prices. What followed? A significant stock sell-off, with some major indexes falling 10% already. Scott urges those close to FIRE to “lock in” their gains and avoid unnecessary risks to push their FIRE numbers higher.
So, what did Scott move his money into, and should you do the same? Should you switch to bonds for a safer but lower-return correction hedge? What happens if this stock downturn lasts years? Should someone in their 20s or 30s, just starting on the FIRE path, stop investing or double down? We’re answering all of your burning FIRE questions today!
In This Episode We Cover
Why Amy uses a financial advisor to help manage her money in retirement
Amy’s journey to financial independence, losing her husband, and retiring early
Assets under management (AUM) versus fee-only advisors (and which one to hire!)
How to reach your FIRE number sooner through “experimental deprivation”
Why you need to have regular money check-ins with your significant other
And So Much More!
Links from the Show
Mindy on BiggerPockets
Scott on BiggerPockets
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Email Mindy: [email protected]
Email Scott: [email protected]
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BiggerPockets Real Estate 1,095 - Scott Trench: How I’m Protecting My Money From “Irrational Exuberance”
(00:00) Stock Market Update
(06:44) Close to FIRE? Do This
(14:41) Fix Your FIRE Portfolio
(17:20) Lock-In Your FIRE!
(19:02) Scott’s 2025 FIRE Portfolio
(21:30) Already Retired/FIRE?
(23:46) What About Taxes?
(28:49) What if This Crash Lasts?
(35:00) Start Shifting Toward Retirement
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-622
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Could hiring a financial advisor help you reach financial independence and retire early? This isn’t a popular move in the FIRE community, but it gave today’s guest peace of mind, preserved her wealth, and helped her save on taxes in retirement. Stick around to learn if it’s the right choice for you, too!
Welcome to another episode of “Life After FIRE”! Today, we’re chatting with Amy, who was dealt a set of circumstances that altered her life and retirement plans. Amy and her late husband, Phil, arrived at their FIRE number in 2020. Just as they were preparing for early retirement, Phil tragically passed, and Amy was left to not only navigate a new normal but also take control of her finances. Still reeling from the loss of her husband, Amy hired a financial advisor, which turned out to be one of the best decisions she ever made.
In this episode, Amy shares how she used money check-ins and a year of “experimental deprivation” to speed up her path to retirement. She also discusses the pros and cons of using financial advisors, the differences between the assets-under-management and fee-only models, and how to properly vet an advisor to ensure you’re getting your money’s worth!
In This Episode We Cover
Why Amy uses a financial advisor to help manage her money in retirement
Amy’s journey to financial independence, losing her husband, and retiring early
Assets under management (AUM) versus fee-only advisors (and which one to hire!)
How to reach your FIRE number sooner through “experimental deprivation”
Why you need to have regular money check-ins with your significant other
And So Much More!
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-621
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Zijn er afleveringen die ontbreken?
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Are we headed right for a recession, or are stocks on sale? We don’t own a crystal ball, but Ricky Mulvey from The Motley Fool is capitalizing on the recent stock market swing by loading up on some of his favorite equities. Stay tuned to find out if now is an ideal time for YOU to “stock up,” too!
Welcome back to the BiggerPockets Money podcast! In light of the recent market pullback, Ricky is going to share why he thinks it’s the right time to take advantage of low stock prices. He’ll discuss some of his best bargain buys, his biggest portfolio wins and losses in recent years, and, most importantly, the four-step approach you can use to identify stocks that could be set to soar in 2025.
If you’re a regular listener, you know that Scott and Mindy are partial to stashing their money in index funds, sitting back, and watching their wealth snowball over the long haul. You might say that Ricky has a slightly larger appetite for risk, as he isn’t opposed to picking stocks, timing the market, and getting out after three to five years. Stick around to find out if his strategy works!
In This Episode We Cover
Whether now is the time to buy stocks after the recent market pullback
Ricky’s four-step approach to finding value in the stock market
Using insider buying activity to find potential investing opportunities
How to prevent “tax drag” when buying and selling off stocks
Reviewing Ricky’s biggest portfolio wins and losses (Meta, Spotify, and more!)
And So Much More!
Links from the Show
Mindy on BiggerPockets
Scott on BiggerPockets
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A Simple Path to Wealth
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BiggerNews: Real Estate vs. Stocks, the Ultimate Wealth-Building Debate
(00:00) Intro
(01:09) The Recent Pullback
(08:53) Hunting for Value
(18:55) Portfolio Wins & Losses
(24:58) Holding Periods & “Tax Drag”
(30:18) Why Costco Is “Safe”
(33:05) How to Pick Stocks
(38:50) Connect with Ricky!
(40:45) Do Your Research!
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-620
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Is the 4% rule dead? Most FIRE-chasers are using this retirement rule completely wrong, and it could cost them their financial freedom. With stock prices falling and many Americans fearing another recession, now is the time to tighten up your retirement portfolio and ensure you can survive if stock prices correct or crash. If you get this wrong, you could delay your FIRE for years or have to go back to work mid-retirement.
The 4% rule is one of the most bulletproof retirement formulas. It’s simple: Build a portfolio from which you can comfortably withdraw 4% annually. Need $40,000 per year to live? Your FIRE number is $1,000,000. Need $100,000 per year? Then you’re looking at $2,500,000. This math has been checked, double-checked, and triple-checked to withstand even the greatest economic depressions. However, most people have their portfolio set up WRONG, and it could put them at significant risk.
So, how do you ENSURE you can retire (early) with the 4% rule? What hedges should you make in your portfolio so your wealth stays afloat even as the economic tide starts to turn? What are Scott and Mindy doing now to prepare for a rocky stock market? Don’t miss this one—it could cost you your FIRE!
In This Episode We Cover
The 4% rule explained and whether it still works in 2025 and during market downturns
Why your FIRE portfolio is WRONG, and it could be at massive risk right now
How to prepare for an economic downturn to ensure you stay FIREd or on the path to FIRE
What Scott is selling and buying right now to protect his wealth (will his strategy work?)
Alternatives to the 4% rule that will protect your retirement portfolio even during the greatest of depressions
And So Much More!
Links from the Show
Mindy on BiggerPockets
Scott on BiggerPockets
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Email Mindy: [email protected]
Email Scott: [email protected]
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BiggerPockets Money YouTube Channel
BiggerPockets Real Estate 1,095 - Scott Trench: How I'm Protecting My Money From “Irrational Exuberance”
BiggerPockets Money 120 - Are FIRE Naysayers Bad at Math? Yes. with Michael Kitces
The Rational Investor’s Case Against Bitcoin
Dow Jones - DJIA - 100 Year Historical Chart
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(00:00) Is the 4% Rule Dead?
(04:39) You CANNOT FIRE with This
(11:42) How to Prepare for Downturns
(21:12) Assets That Are At Risk
(23:17) What Scott’s Buying/Selling
(28:29) Alternatives to 4% Rule Portfolio
(34:21) Do You Trust the 4% Rule?
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-619
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Think you’ve blown your chances of achieving FIRE? You haven’t! Just ask Nik Johnson, who spent years growing his nest egg, only to have it completely wiped out with one bad financial decision. Despite losing everything, he managed to rebuild it from ground zero and still retire early!
Welcome to another episode of “Life After FIRE”! Nik and his wife had done everything right. They practiced frugality, saved aggressively, and invested at every opportunity. But everything was turned on its head when Nik decided to empty his retirement accounts and open a car dealership. Within just one year, Nik’s company had gone belly up, and as a result, all the money he had worked so hard to save was gone. It seemed that he had missed his one shot at early retirement, but rather than giving up on that dream, he started over. If he could do it once, he could do it again!
So, Nik found a W2 job, picked up a second job to fast-track his savings, and started throwing all his money at retirement accounts and real estate investments, and now, he and his wife are recently retired! Stick around as Nik shows you how to avoid the middle-class trap, what life looks like after FIRE, and the importance of community once you retire!
In This Episode We Cover
How Nik built, lost, and rebuilt his investments and still achieved FIRE
Supercharging your investments by creating extra income streams
How not to find seed money for a risky entrepreneurial venture
The savvy financial moves Nik made to avoid the middle-class trap
What the average “day in the life” of an early retiree looks like
Why you need a strong community around you once you retire
And So Much More!
Links from the Show
Mindy on BiggerPockets
Scott on BiggerPockets
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Email Mindy: [email protected]
Email Scott: [email protected]
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Everyday Money Heroes Podcast
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Buying at the Peak, Surviving a Crash, and STILL Being Able to Quit at 38
Connect with Carl
(00:00) Intro
(01:22) Growing His “Empire”
(08:58) Losing $150K!
(12:05) Rebuilding His Wealth
(16:48) Life After FIRE
(24:20) Nik’s Investment Portfolio
(28:34) Connect with Nik!
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-618
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You’ve worked so hard to finally achieve FIRE (financial independence, retire early); the last thing you want is your wealth to dwindle or disappear entirely. Unknown to most FIRE-chasers, four financial “horsemen” (of the personal finance apocalypse) could steal your wealth right out from under you, without you even realizing it. What are the four horsemen, and how are we protecting our FIRE portfolios from them?
To make sure you not only become wealthy but stay wealthy, we brought Whitney Elkins-Hutten, author of Money for Tomorrow, on the show to share the best ways to keep your portfolio safe from the four horsemen. Whitney scaled her portfolio from almost nothing to life-changing wealth, and she could have lost it all if she hadn’t learned how to protect it.
Mindy and Scott tag-team to show YOU how to protect your FIRE from these four horsemen, including sharing what they’re doing right now to set themselves up for a successful (and safe) financial future. Don’t let your wealth get drained before OR during FIRE; take these tips to heart ASAP!
In This Episode We Cover
The four “horsemen” that could destroy your FIRE lifestyle and disrupt your generational wealth
How Whitney went from accidental house flipper to financially-free investor
The overlooked investing “fees” that could cost you hundreds of thousands of dollars
Why you’re (probably) paying too much money for insurance (and how to start saving)
When (and when not) to pay off debt and which balances to prioritize first
And So Much More!
Links from the Show
Mindy on BiggerPockets
Scott on BiggerPockets
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Email Mindy: [email protected]
Email Scott: [email protected]
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Grab Whitney’s Book “Money for Tomorrow”
Save $100 on Real Estate’s Biggest Event of the Year, BPCon2025
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The Points Guy’s Travel Hacking Tips to Fly for FREE in 2025
Connect with Whitney
(00:00) Intro
(06:00) "Ownership" Makes You Rich
(10:09) Aggressively Investing in Rentals
(11:52) This Could Destroy Your Wealth
(19:07) Which Debt to Pay Off
(23:14) Save Thousands on Insurance
(30:23) This Could Delay Your FIRE
(37:08) STOP Being Scared of Taxes!
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-617
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Is your FI number TOO high? Whether you are ultra-conservative with your finances or want a lavish retirement lifestyle, setting a high bar could make your financial independence journey much harder…but not impossible. Today, we’ll provide a roadmap for building massive wealth!
Welcome back to the BiggerPockets Money podcast! With a six-figure income and a six-figure net worth at just 25 years old, Austin Crofoot should have no problem reaching financial independence by age 50, right? The only issue is that his FI number of $5,000,000 is much higher than most. As you’re about to hear, he’ll need to make several “bets” over the next few years, cross his fingers, and hope that at least one of them pays off in a huge way.
Like many in the FIRE community, Austin also wants to avoid the middle-class trap. Scott and Mindy will show him how to balance his retirement accounts with a mix of cash, brokerage accounts, and real estate investments—giving him the financial flexibility to pursue entrepreneurial ventures and retire on his terms. Stick around to hear how Austin can take advantage of a rebounding housing market by taking on assumable mortgages with rock-bottom interest rates!
In This Episode We Cover
The “levers” Austin needs to pull to reach his $5,000,000 FI number
The roadmap to achieving financial independence by age 50
How Austin built a six-figure net worth by just 25 years old
Building wealth by taking on assumable mortgages with low interest rates
Why the Austin, Texas housing market is poised to bounce back in 2025
Reducing your taxable income to maximize Roth IRA contributions
And So Much More!
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-616
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The “death march to FI” isn’t for everyone. If you’re tired of climbing the corporate ladder or lacking a sense of purpose at your W2 job, it’s not too late to escape the rat race and design the life you want, just like the “Financial Tortoise,” Tae Kim, did!
In this episode of “Life After FIRE,” Tae returns to the show to discuss his move from the corporate world to a job that gives him the freedom and flexibility to travel, spend more time with his family, and actually enjoy the journey to FIRE. For years, Tae was dead set on achieving his goal of becoming a chief financial officer (CFO), but as he approached the summit, he realized just how much freedom and control he was giving up. So, he started implementing a plan to quit and pursue entrepreneurship instead!
In four years, Tae went from making $0 on YouTube to over $250,000 per year. Today, he and his wife are comfortably coast FI, traveling the world, creating personal finance content, and continuing to save for retirement where they can. Stay tuned as Tae shares how he “reinvented” himself in his late 30s and the moment he realized he had “made it” on YouTube!
In This Episode We Cover
Why Tae quit the corporate grind right before reaching his lifelong goal
Building a financial runway that allows you to pursue entrepreneurship
Crucial financial steps to take before leaving your nine-to-five job
How to start an online business that gives you financial freedom
Why it’s never too late to “reinvent” yourself and design the life YOU want
And So Much More!
Links from the Show
Mindy on BiggerPockets
Scott on BiggerPockets
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Email Mindy: [email protected]
Email Scott: [email protected]
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How to Become a “Quiet” Millionaire and Avoid the Financial Guru Trap
Connect with Mindy
Connect with Carl
(00:00) Intro
(01:08) Tae’s Money Story
(05:57) Quitting Corporate
(10:51) “Making” It on YouTube
(18:23) Expectations vs. Reality
(24:20) Current Income & Expenses
(27:58) Design the Life You Want!
(30:49) Connect with Tae!
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-615
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How do the top 1% of Americans invest their money, and how do your investments compare? We’re breaking down the data, showing what the wealthiest Americans are invested in and how to copy their 1% portfolio so you can invest like the ultra-wealthy. To be in the top 1% of Americans, you must have at least eight figures. And while that’s a Fat FIRE number, most of us don’t need tens of millions to retire early. But copying some of the tactics of the top 1% could get you there faster.
One thing slingshots average Americans to the top 1%, and even the top 0.1%, but you don’t have to bank on this huge bet to get there. Surprisingly, the top 1% invests in assets that YOU already have access to, not elite-only investment opportunities or massive business deals. They’re invested in FAR more passive assets than you’d think, so you don’t HAVE to build a real estate portfolio to get there.
What gives you the best chance of hitting the top 1% in wealth? Maybe you don’t want to go that far—how do you get to the top 10%? Scott and Mindy share a few strategies that could skyrocket your net worth into the tens of millions—if you’re willing to do the work. Plus, they reveal where to park your money once you reach the top.
In This Episode We Cover
The average net worth of the 1% and the 0.1% in America (less than you’d think)
How the 1% invest their money and why they AREN’T heavily invested in real estate
The best investment for the chance of breaking into the top 1%
The “middle-class trap” that the 1% escape, but the upper-middle-class can’t
How the top 1% invest now compared to pre-pandemic and pre-2008
And So Much More!
Links from the Show
Mindy on BiggerPockets
Scott on BiggerPockets
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Email Mindy: [email protected]
Email Scott: [email protected]
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Fed Assets by Wealth Percentile Group in 2024
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BiggerPockets Money 325 - How to Buy Yourself a 6-Figure Income Stream w/Tim Delaney
Fed Assets by Wealth Percentile Group in 2024
(00:00) Intro
(01:12) Top 1% Net Worth
(08:49) The Top 1% Portfolio
(16:05) How Their Investments Evolve
(17:40) Cheat Code to 1% Status?
(21:12) Average American vs. 1% Investments
(29:46) Best Investment to Become 1%?
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-614
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If there’s an issue that keeps aspiring early retirees up at night, it’s the dreaded middle-class trap. At just 28 years old, this financially savvy couple is already looking for ways to avoid this issue. Whether you’re just starting your FIRE journey or approaching early retirement, we’ll show you how to do the same in today’s episode!
Welcome back to the BiggerPockets Money podcast! So far, Leah and Zach Landis are doing everything right. They earn high incomes, they spend very little, and they invest the difference. Well on their way to retiring early, they plan to quit their jobs by age 45 or sooner! But will their current asset allocation get in the way of their big goal? What kind of bridge will they need to tide them over until traditional retirement age? Will having children impact their financial freedom?
Fortunately, Leah and Zach have all kinds of options. Tune in as Scott and Mindy dive into the couple’s budget and discuss their best path forward. Along the way, we’ll debate whether they should pause their 401(k) contributions, double down on brokerage accounts, and deploy their cash savings on their “dream” home!
In This Episode We Cover
Breaking down Leah and Zach’s best path to FIRE by 45 (or sooner!)
The middle-class trap explained and how to avoid (or escape) it
The BEST ways to invest your cash and make it work harder for you
How much you should expect to pay in taxes once you reach retirement
When to stop growing your 401(k) plan (and where to invest instead)
And So Much More!
Links from the Show
Mindy on BiggerPockets
Scott on BiggerPockets
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Email Mindy: [email protected]
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BiggerPockets Money 219 - Syndications: Everything You Need to Know BEFORE You Invest
Maximize Your Real Estate Investing with a Self-Directed IRA from Equity Trust
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BiggerPockets Money 456 - The Harsh Reality Real Estate Syndications (and Investors) Face in 2024
Connect with Leah
Connect with Zach
(00:00) Intro
(01:05) Leah & Zach’s Money Journey
(08:20) Money Snapshot
(12:27) Buying the “Dream” Home
(18:33) Best Ways to Invest Cash
(26:51) Avoiding the Middle-Class Trap
(36:28) Maxing Out the 401(k) & HSA
(47:06) Don’t Get Trapped!
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-613
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The wealthy are using one unique retirement account to build their fortunes tax-free. You may have never heard of it, but knowing about it can change the course of your retirement planning, allowing you to invest in much more than stocks, index funds, and bonds in your retirement accounts.
We’re talking about making passive real estate income tax-deferred, flipping houses and sheltering the profits for when you retire, or having a rental property portfolio producing massive passive income, all with the tax benefits of your 401(k), IRA, or Roth IRA.
We’re, of course, talking about the self-directed IRA (SDIRA) and the sizable benefits that come with it.
To help, John Bowens (Certified IRA Services Professional) from Equity Trust is on the show to share the tax advantages most Americans have zero clue about. Scott starts the interview by coming in hot, throwing out his most significant objections to an SDIRA. We were even surprised by just how many benefits this single account has and how you can use it in ways most people would never assume of a retirement account.
We’re talking about how to buy rental properties IN your retirement accounts (and profit from them tax-free/deferred), whether a self-directed IRA or 401(k) makes the most sense for you, the “material participation” rule that you CANNOT afford to break, and how much this account costs to set up. This is a game-changing account for retirees who want to live a rich life, so do not skip out on it!
In This Episode We Cover
Scott’s biggest objections to the self-directed IRA (is he wrong?)
How to get tax-free/deferred passive income from real estate in your retirement accounts
The one tax that you MUST know about before investing in an SDIRA
Can you get a mortgage for a rental property in an SDIRA?
How much an SDIRA costs to set up and keep going (less than you’d think)
And So Much More!
Links from the Show
Mindy on BiggerPockets
Scott on BiggerPockets
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Email Mindy: [email protected]
Email Scott: [email protected]
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How to Access Retirement Funds Early
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The Self-Directed IRA: What You Should Know About This Wealth-Building Tool
Connect with John
(00:00) Intro
(08:26) Tax-Free Real Estate Gains
(16:45) One Tax to Watch Out For
(19:59) Self-Directed 401(k)s vs. IRAs
(27:36) Making $34,000 Tax-Free!
(30:42) The "Material Participation" Risk
(35:41) Financing Rentals in an SDIRA
(39:40) SDIRA Fees and Costs
(50:05) Completely Passive Income
(51:56) Active Investing in an SDIRA
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-612
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How has Scott achieved so much financial success already in his early 30s? He’s got a secret weapon nobody else has: Virginia Trench! That’s right, the woman behind half of the puns you hear on this podcast is coming on the show! She's sharing her view on Scott’s early (and extreme) frugality, massively successful financial planning dates, goal setting as a couple, prenuptial agreements, and the Trenches’ recent decision to sell a solid chunk of their index fund portfolio.
Virginia met Scott before he was CEO, before he had a sizable rental portfolio, and before he became one of the internet’s favorite money nerds. Together, they’ve worked hand-in-hand, building a FI lifestyle that fits their family while chasing their own individual dreams, including Virginia becoming a published author with her new book, Our Secrets Were Safe, coming out this summer!
In this episode, we peel back the curtain and get a glimpse into how Scott and Virginia run the Trench household and its finances. What’s the one thing they have trouble not spending on? What is their repeatable process for achieving enormous financial goals? And is Scott secretly the world’s worst/best baker? If you’re a long-time listener, this is an episode you can’t miss!
In This Episode We Cover
The repeatable money date that Scott and Virginia use to keep their family finances in shape
Goal setting as a couple and how to reach seemingly impossible milestones
Prenuptial agreements and why Scott and Virginia would recommend one for couples
What Virginia thinks about Scott’s recent decision to sell off their index funds
The one spending problem that Scott and Virginia both admit they struggle with
And So Much More!
Links from the Show
Mindy on BiggerPockets
Scott on BiggerPockets
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BiggerPockets Money 301 - Why You’re (Probably) Wrong About Prenups
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Sign Up for the BiggerPockets Money Newsletter
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BiggerPockets Money 607 - Has the FIRE Formula Changed? Why 100% Index Funds Isn’t the Answer
(00:00) Intro
(01:47) Super Frugality and FIRE Goals
(04:57) Spending and Blind Spots
(08:42) Getting a Prenup
(12:08) Financial Planning Dates
(17:08) Goal Setting 101
(24:57) Scott Goes Coconuts
(321:05) Selling Index Funds
(35:49) Grab Virginia’s Book!
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-611
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Teachers aren’t known for their high salaries, so how did this one reach early retirement and FIRE at just 45 years old? Through “aggressive” saving and smart cost-of-living choices, Amy Minkley was able to quit her demanding international teaching job only three years after finding out about the FIRE movement. Now, she spends her days living in paradise and hosting “FI Freedom Retreats” once or twice a year for like-minded FIRE-chasers.
To reach FIRE in your 40s, you must make some strategic moves like Amy. Thankfully, you don’t need to make six figures to retire early in 2025. Throughout Amy’s career, she never entered the “high income” threshold but could still save aggressively, thanks to the perks of teaching at international schools. We’re talking free rent, subsidized travel, and plenty of paid vacation.
But it wasn’t always the dream life that it sounds like. Amy had constant stress and was routinely feeling burned out, forcing her to take multiple sabbaticals, change where she lived, and deal with some of the money trauma that had plagued her past. Now, she’s FIRE, thriving, and living entirely on her terms. You can (and should) do it, too!
In This Episode We Cover
How to reach FIRE in your 40s even if you feel like it’s too “late” for you
Why teachers should look into teaching abroad to save a significant portion of their income
Investing from abroad and what to do when you have little-to-no social security contributions
How much cash you should keep on hand when you’re ready to retire early
Living off the three percent rule (instead of the traditional four percent rule) by moving to low-cost-of-living areas
Why you must take a sabbatical at least once in your working career
And So Much More!
Links from the Show
Mindy on BiggerPockets
Scott on BiggerPockets
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Email Mindy: [email protected]
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From Making $40K/Year as a Teacher to Reaching FI in 4 Years by Doing THIS
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Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-610
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Is something stopping your FIRE? Today’s guest wants to retire early at 35, but with a shaky budget, extra expenses, and a problematic rental property, her path to early retirement isn’t clear. In today’s episode, we’ll break down her finances and help her get back on track!
Welcome back to the BiggerPockets Money podcast! Sarah earns a great salary and diligently saves for retirement each month. You’d think she’s on pace to leave her W2 job in a few years, but there’s one problem—she has more expenses than the average person. Financially responsible for two extra family members, Sarah pays for their mortgage, food, and lifestyle, all while covering her own expenses!
Does Sarah’s financial situation need a major shake-up? Tune in as Scott and Mindy debate whether it’s time for Sarah to part with a property that’s bleeding money, strategize about when to put it on the market, and discuss what to do with the money from the sale. We’ll also touch on the tough conversations Sarah needs to have with family members if she wants to achieve her retirement goal!
In This Episode We Cover
The three things Sarah must do to achieve her goal of FIRE by 35
How to reach your financial goals despite extra expenses
What to do with a rental property that has negative cash flow
The BEST time to put an investment property on the market
How to budget for future children (family planning 101!)
And So Much More!
Links from the Show
Mindy on BiggerPockets
Scott on BiggerPockets
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Email Mindy: [email protected]
Email Scott: [email protected]
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Find Investor-friendly Tax and Financial Experts
Maximize Your Real Estate Investing with a Self-Directed IRA from Equity Trust
Achieve FIRE with Scott’s Book, “Set for Life”
Sign Up for the BiggerPockets Money Newsletter
Find an Investor-Friendly Agent in Your Area
BiggerPockets Money 12 – How to Become an “Overnight” Success in 10 Short Years with David Greene
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-609
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2024 may be long gone, but it’s NOT too late to lower your taxes for the previous year. If you have real estate or retirement accounts, you already hold the key to minimizing your taxable income and owing less to Uncle Sam. But how do you do it? We’re sharing 2024 and 2025 top tax reduction strategies in today’s show with expert CPA and real estate investor Amanda Han!
Do you know about the real estate tax “loophole” that helps everyday investors cut their taxable income by tens of thousands? Got an employer-contributed retirement plan? You could STILL use it to lower your 2024 taxes! And why should you NOT take the standard deduction if you’ve bought a home in the past few years? We’re answering all of these questions so you can keep more of your hard-earned money.
Finally, what audit red flags is Amanda seeing with her clients? There’s one easily avoidable audit trap that MANY Americans are falling into that could take just minutes to circumvent. Should we even be talking about income taxes if President Trump plans to eliminate them? Amanda, Mindy, and Scott are sharing their opinions on whether this will reach fruition.
In This Episode We Cover
How to save on your 2024 tax bill and moves to make before Tax Day 2025
The easily avoidable audit red flag that Amanda has seen spike lately
The real estate tax deduction that could save those earning $150K or less tens of thousands
Most commonly missed tax write-offs that many Americans can take but forget about
Will President Trump abolish income taxes during his second term?
Whether to pay your estimated taxes OR invest instead and take the interest hit
And So Much More!
Links from the Show
Mindy on BiggerPockets
Scott on BiggerPockets
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Email Mindy: [email protected]
Email Scott: [email protected]
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Find Investor-friendly Tax and Financial Experts
Buy Amanda’s Book, “The Book on Tax Strategies for the Savvy Real Estate Investor”
Find Investor-Friendly Lenders
Tax Audit Tips
Connect with Amanda
(00:00) Intro
(00:56) You Can STILL Save on 2024 Taxes
(05:54) Lowering Your Taxable Income
(10:27) You Can STILL Contribute for 2024!
(14:22) Estimating Your Taxes
(16:22) Itemizing vs. Standard Deduction
(18:21) Commonly Overlooked Write-offs
(21:41) Audit Red Flags!
(23:06) Will Tax Rates Rise or Fall?
(28:03) Opportunity Zones Have Changed
(31:08) How to Prepare for 2024/2025
(35:15) Connect with Amanda!
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-608
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Is a 100% index fund portfolio no longer the FIRE formula? The market has changed, and maybe your portfolio allocation needs to change with it. With index funds at all-time-high prices and price-to-earnings ratios at an eye-watering 29, you might be feeling a bit worried about whether your FIRE will last or you’ll even make it to FIRE in the first place. You’re not crazy; Scott is feeling the same way, too.
Recently, Scott decided to make a move much of the FIRE community would protest—he sold 40% of his index fund portfolio to reallocate to real estate. Why did he do it now, even as a strong index fund believer? On the other hand, why is Mindy sticking with her stock and index fund portfolio, ready to ride out whatever potential market downturn could be coming our way?
Scott explains, in detail, why real estate is a better choice for him at the moment, the reason prudent FIRE chasers should question the conventional wisdom of a 100% index fund portfolio, and why his new rental property could act as a hedge against a significant market downturn. If Scott is selling his index funds, should you?
In This Episode We Cover
The historical price-to-earnings ratios making index funds a riskier bet
How holding 100% index funds could throw your FIRE off by a decade
The optimal portfolio for retiring early on the four percent rule
Is real estate a safer bet than stocks in 2025?
Real estate cash flow vs. selling stocks for income and why one is much easier to actualize
And So Much More!
Links from the Show
Mindy on BiggerPockets
Scott on BiggerPockets
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Email Mindy: [email protected]
Email Scott: [email protected]
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Personal Finance Club
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BiggerPockets Money 599 - The Macro Analysis is Clear: Why We Are Reallocating (Away From Stocks) to Real Estate in 2025
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-607
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Travel hacking allows you to fly and travel for free, often in luxury, without spending tens of thousands of dollars on flights or hotels. So, how do you do it without managing thirty different credit cards in your wallet? Brian Kelly, AKA The Points Guy, world-renowned travel hacking expert and author of the new book How to Win at Travel, is here to show you as we rapid-fire our top credit card rewards questions at him.
In this show, you’ll learn how to fly to Europe, Asia, and beyond for FREE, even in business class, all by spending the same amount of money you typically would every month. These cards can turn your weekly grocery run into free flights, hotel stays, cashback, and more, plus give you huge perks like airport lounge access, travel protection, and even a credit to spend on your next trip. Love free money? This is how you get it.
Plus, we’re asking The Points Guy what cards he has in HIS wallet, what he spends on which card, and why he does NOT recommend staying loyal to a specific airline, even if you travel often. These tips alone could save you thousands of dollars this year while turning your economy seat into a lie-flat first-class experience. Don’t let your money go to waste; start travel hacking!
In This Episode We Cover
How to travel for free by spending money on groceries, eating out, and business expenses
The Points Guy’s three favorite credit cards that everyone should keep in their wallet
Why you (probably) shouldn’t stay loyal to a specific airline, even if you have their credit card
Why Chase points can get you even MORE free travel than American Express points
Evaluating annual credit card fees and whether a $300+/year credit card is worth it
Best credit cards for renters and those who live a frugal lifestyle (but still want to travel!)
And So Much More!
Links from the Show
Mindy on BiggerPockets
Scott on BiggerPockets
Listen to All Your Favorite BiggerPockets Podcasts in One Place
Join BiggerPockets for FREE
Email Mindy: [email protected]
Email Scott: [email protected]
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Get Early Access to Real Estate’s Biggest Event of the Year, BPCON2025
Learn to Save and Spend the Right Way with “Set for Life”
Find an Investor-Friendly Agent in Your Area
How to Earn Free Vacations With Travel Rewards Credit Cards
(00:00) Intro
(01:39) Travel for FREE!
(06:06) Best Credit Cards for Beginners
(13:48) Annual Fees
(17:56) Brian’s Favorite Credit Cards
(20:51) Airline and Hotel Partner Cards
(27:49) Keeping Track of Cards
(29:34) Best First Card?
(31:21) Cards for Low-Spenders
(34:03) Inheriting Points?
(36:52) WIN at Travel!
(39:01) Get Your Points!
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-606
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Does the four-percent rule actually work? On paper, yes. So why don’t more people put it to the test? Today’s guest retired at forty-seven years old and is living proof that the math really does check out. Stay tuned to find out how!
Welcome back to the BiggerPockets Money podcast! Bobby Beck has done what so many in the FIRE community are seemingly unable to do—he actually retired on the four-percent rule! What’s more? He did it while living in the Bay Area, one of the most expensive markets in the US. What gave him the confidence to leave his job and never look back? While “One More Year Syndrome” keeps many people from retiring early, Bobby’s mantra of “take a year” compelled him to take a leap of faith. Even though his retirement portfolio took a sixteen-percent hit right before he retired, he weathered the storm, and sure enough, the market rebounded!
Now, Bobby lives the life people dream of when they discover FIRE. He has a comfy lifestyle, travels multiple times a year, and only checks his portfolio once a month. If you need the motivation to call time on your career and put your retirement date on the calendar, you don’t want to miss this episode!
In This Episode We Cover
How Bobby and his wife retired on the four-percent rule (at age 47!)
Why the FIRE community overestimates how much they’ll owe in taxes
How to beat “One More Year Syndrome” and actually retire early
Growing your brokerage accounts and cash to avoid the middle-class trap
The portfolio allocation that will give you the confidence to retire
And So Much More!
Links from the Show
Mindy on BiggerPockets
Scott on BiggerPockets
Listen to All Your Favorite BiggerPockets Podcasts in One Place
Join BiggerPockets for FREE
Email Mindy: [email protected]
Email Scott: [email protected]
BiggerPockets Money Facebook Group
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“Like” BiggerPockets Money on Facebook
Sign Up for BiggerPockets Momentum 2025 to Reach FIRE Faster
Maximize Your Real Estate Investing with a Self-Directed IRA from Equity Trust
Learn How to Retire Early with Scott’s Book “Set for Life”
Find an Investor-Friendly Agent in Your Area
How Much Do You Need for Early Retirement? (How to Calculate Your FI Number)
(00:00) Intro
(01:03) Retired at 47!
(05:49) Bobby’s Portfolio
(08:35) Real Estate Investments
(17:05) Withdrawals & Tax Strategies
(26:45) 100% Stock Portfolio
(34:36) What Does Your Life Cost?
(39:47) The 4% Rule Works!
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-605
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Do we focus too much on just one type of wealth? What if the key to a happy life isn’t retiring early, ascending the corporate ladder, or having more money than you know what to do with? Serial entrepreneur Sahil Bloom spent years chasing money, only to find that it didn’t provide happiness—it robbed him of it. Find yourself in the same boat? This episode is for you!
Welcome back to the BiggerPockets Money podcast! Today, Sahil joins the show to discuss the core concepts from his latest book, The 5 Types of Wealth. Many FIRE-focused folks believe that financial wealth unlocks time, social, mental, and physical wealth, but Sahil is living proof that this isn’t the case. In this episode, he shares about his own journey from financial illiteracy to financial independence, the different levers he pulled along the way, and how he was able to dig himself out of a rut that was slowly destroying his life.
Whether you’re stuck on the happiness hamster wheel, burned out at your nine-to-five job, or lacking in any area beyond money, you’re not alone! Sahil will show you the “x factor” that leads to financial freedom, the best and most scalable side hustles to start, and how to transition from your W2 to entrepreneurship!
In This Episode We Cover
The five types of wealth explained (and why you shouldn’t focus on just one!)
The “x factor” that catapults you from a decent living to financial freedom
Why increasing your income is more important than controlling your expenses
The number one thing the FIRE community gets wrong about building wealth
How anyone can start (and scale) their own online business in 2025
Steps every person must take to lay a strong financial foundation
The “safety net” you need when moving from stable W2 income to entrepreneurship
And So Much More!
Links from the Show
Mindy on BiggerPockets
Scott on BiggerPockets
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Join BiggerPockets for FREE
Email Mindy: [email protected]
Email Scott: [email protected]
BiggerPockets Money Facebook Group
The 5 Types of Wealth
Sahil’s Instagram
Try REsimpli, The Only All-In-One Real Estate Investor CRM Software That Helps You Manage Data, Marketing, Sales, and Operations
Buy the Book “Pillars of Wealth”
Find an Investor-Friendly Agent in Your Area
How to Build, Grow, Scale, & SELL Your Online Business
(00:00) Intro
(01:02) Sahil’s Money Journey
(03:18) Building a Financial Foundation
(13:29) Leaving the Fund & Moving Home
(21:43) The “Scalability” of the Internet
(28:09) Structuring His Company
(33:18) The 3 Pillars of Financial Wealth
(39:09) Riding Out the Market
(43:40) The 5 Types of Wealth
(46:08) Connect with Sahil!
(47:03) Build “Well-Rounded” Wealth!
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-604
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How can you use your retirement accounts to reach FIRE faster? We’ve talked a lot about the “middle-class trap”—having too much of your net worth trapped in your retirement accounts and home equity—and we may have the secret weapon to help you escape it. Not only that, this strategy allows you to keep more of what you earn, take control of your investments, and build a (relatively) passive real estate portfolio while you get closer and closer to FIRE.
Of course, we’re talking about self-directed IRAs and Kaaren Hall’s new book, Self-Directed IRA Investing: A BiggerPockets Guide (use code “SDIRA10” for 10% off)!
Never heard of them? Self-directed IRAs (SDIRAs) are retirement accounts that give you more control over what you invest in. So, instead of just stocks and bonds, you can use your retirement funds to buy rental properties, become a passive private money lender, and invest in real estate syndications. These investments can often get higher returns than stock market averages, helping you reach your retirement goals faster!
So, how do you use it to escape the middle-class trap? Today, Kaaren shares some of the often overlooked strategies to withdraw early from your self-directed IRA so you can FIRE in your forties or fifties instead of waiting until your sixties!
In This Episode We Cover
Self-directed IRAs explained, plus why they’re a “secret weapon” for retirement
Self-directed IRAs vs. traditional IRAs and what you can invest in with each
Escaping the “middle-class trap” with early withdrawal strategies for retirement accounts
Completely passive real estate investments you can put inside your self-directed IRA
How to turn your old employer-sponsored retirement account into a self-directed IRA
And So Much More!
Links from the Show
Mindy on BiggerPockets
Scott on BiggerPockets
Listen to All Your Favorite BiggerPockets Podcasts in One Place
Join BiggerPockets for FREE
Email Mindy: [email protected]
Email Scott: [email protected]
BiggerPockets Money Facebook Group
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Finance Friday: How the “Middle-Class Trap” Stops Your Early Retirement
Connect with Kaaren
(00:00) Intro
(01:23) Self-Directed IRAs Explained
(05:49) Buy Real Estate with Retirement Accounts!
(10:37) Opening a Self-Directed IRA
(13:55) Escaping the Middle-Class Trap
(17:41) Real Estate IRA Rules
(20:52) Best Alternative Investments
(23:56) 401(k) vs. IRA and Minimum Distributions
(27:57) Withdraw from Your IRA for FIRE!
(34:49) Self-Directed HSAs! (Timestamp)
(36:59) When to Use a Self-Directed IRA
(41:48) 403(b)s and TSPs
(43:20) BIG Changes!
(48:20) Grab the Book!
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-603
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