Afleveringen
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Got a late start on your retirement planning? Do you feel like you missed the boat and won’t be able to retire on your timeline? We’ve got good news for you in today’s episode—it’s never too late for retirement (and even EARLY retirement!). No matter what age you’re at, how much you have in the bank, and how much you make, you CAN retire on your terms, and our guests will prove it. The question is, will you follow through on their time-tested system for reaching retirement?
Bill Yount and Jackie Cummings Koski from the Catching Up to FI podcast are here to show you that whatever your situation is, you can get on track for retirement. Bill and Jackie both were late starters, only taking retirement seriously decades after starting their working careers. Even with their “late start,” Bill and Jackie were able to massively multiply their net worths and retirement savings, allowing them to reach financial freedom on their terms.
In today’s show, Bill and Jackie walk through the four steps that anyone can take to begin saving for retirement. You don’t need ANY money to take these initial steps, but doing so will change your entire financial future. Stick around for our next show as we get into the nitty gritty of retirement planning and put you directly on the path to retirement or early retirement!
Support today's show sponsor, BAM Capital, your path to generational wealth with premier real estate investment opportunities!
In This Episode We Cover
The four steps anyone can take to reach retirement
Why it’s okay to be a “late starter,” especially when it comes to retirement planning
How to do a “backward budget” to quickly and easily see how much you’re spending
Why you MUST look back on the financial “lessons” you’ve learned to build wealth now!
Getting clear on your goals and what you want to achieve so you can reach retirement
The “trifecta of mistakes” Bill made and how even that didn’t stop his financial freedom journey!
And So Much More!
Links from the Show
BiggerPockets Money Facebook Group
Network with Other Investors on The Path to FIRE Through the BiggerPockets Forums
Finance Review Guest Onboarding
Join BiggerPockets for FREE
Mindy on BiggerPockets
Scott on BiggePockets
Listen to All Your Favorite BiggerPockets Podcasts in One Place
Apply to Be a Guest on The Money Show
Podcast Talent Search!
Find an Investor-Friendly Agent in Your Area
Find Investor-Friendly Lenders
Property Manager Finder
Finance Friday: How to Get to Early Retirement Even Faster
BiggerPockets 422 - The Late Starter’s Guide to Financial Independence (Even in Your 50s!) w/Bill Yount
BiggerPockets Money 527 - Retired at 49 on an Average Salary after Getting a “Late Start” to FIRE w/Jackie Cummings Koski
Want to Be a Guest on the BiggerPockets Money Show? Apply Here
00:00 Intro
01:14 Late Start, Early Retirement
06:01 Before You Can Start
08:06 “Backwards” Budgeting
17:12 Make a Plan
28:26 Acknowledge Your “Lessons”
33:19 Stick Around!
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-537
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If you get your property management wrong, you could lose tens of thousands of dollars. A sketchy property manager could take all your rent and run, leaving you with the bills and no hope of recovering your long-lost rent checks. That’s precisely what happened to today’s guest, a seasoned real estate investor who’s even looked up to as an expert in the industry. Even he made a sizable property management mistake, and in this episode, we’re trying to help you avoid the same fate.
The BiggerPockets Podcast Network is bringing you a crossover episode with the Real Estate Rookie podcast’s Ashley Kehr and the BiggerPockets Money podcast’s Scott Trench. Scott is not only the host of BiggerPockets Money but also the CEO of BiggerPockets. And today, he’s sharing every painful detail about how he lost over $40,000 by hiring a bad property manager. This IS an avoidable mistake, but some easily overlooked red flags could put you in the same position as Scott unless you’re very careful.
Scott shares the entire story and gives the top red flags to look out for. He’ll explain why he DOESN’T give his whole portfolio to one property manager, why you MUST set communication standards from the start, the questions EVERY investor should ask before hiring a property manager, and the fees you should refuse to pay the next time you outsource your property management. Need a property manager? We’ll share the best tool ANYONE can use to find a property manager TODAY!
In This Episode We Cover
Deadly property management red flags and signs you should run from a property manager
Why you never, EVER give your entire portfolio to a single property manager/property management company
Simple questions to ask that immediately show if a property manager is legit
Negotiating fees and why Scott is okay with paying a higher monthly rate
Communication expectations and what a property manager should be sending you EVERY month
The easiest way to find a great property manager wherever you invest
And So Much More!
Links from the Show
BiggerPockets Money Facebook Group
Network with Other Investors on The Path to FIRE Through the BiggerPockets Forums
Finance Review Guest Onboarding
Join BiggerPockets for FREE
Mindy on BiggerPockets
Scott on BiggePockets
Listen to All Your Favorite BiggerPockets Podcasts in One Place
Apply to Be a Guest on The Money Show
Podcast Talent Search!
Find an Investor-Friendly Agent in Your Area
Find Investor-Friendly Lenders
Property Manager Finder
Want to Self-Manage Your Rentals Instead? Grab the New Book, “Self-Managing Landlord”
Ask Other Investors Your Property Management Questions on the BiggerPockets Forums
Past Episodes Mentioned in Today’s Show:
Real Estate Rookie 59 - Rookie First-Time Home Buyer Questions Answered by Scott and Mindy
Real Estate Rookie 200 - Scott Trench’s 10-Step Checklist to Buy Your First Rental Property
Real Estate Rookie 401 - Boost Your Cash Flow in 2024 with These “Self-Management” Tips
BiggerPockets 513 - The “Red Flags” of Investment Fraud from a Former $3.8M Ponzi Scheme Manager
Connect with Ashley on BiggerPockets
Connect with Scott on BiggerPockets
00:00 Intro
01:20 Hiring the Property Manager
03:37 Things Start Going Wrong
06:12 Losing $40K!
09:32 Property Manager Red Flags
15:39 Questions You MUST Ask
23:34 Negotiating Fees
30:05 Asset Type Matters!
34:54 Communication Expectations
37:29 Vetting for Legitimacy
43:16 Find a GREAT Property Manager
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-536
Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email [email protected]
Learn more about your ad choices. Visit megaphone.fm/adchoices -
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What would it take for you to achieve financial freedom? Now, think about what it would take for you to achieve it for your family. Many of us have parents we’ve seen work day in and day out, providing for us when it meant putting their dreams on the back burner. But what if you could repay your parents for all they’ve done for you, helping them retire and ensuring they can truly live the life they love without worrying about money? That’s exactly what today’s guest did for her mother and herself.
After her parents divorced when she was a teenager, Delyanne Barros began what seemed like a two-decade-long non-stop grind. Fearing what would happen to not only herself but her family if she didn’t provide, Delyanne chose to go to law school to not only help those in need but also bring home a steady paycheck that would support her and her mother. After realizing that the nine-to-five grind wasn’t what she thought, Delyanne began searching for a way to get into a better financial position. As a result, she found the debt-free and the FIRE movements.
Now, only in her early forties, she’s already started a business that brings in millions, retired her mother, achieved financial freedom, and did it all just within six years of finding the FIRE movement. Her biggest tip for success: Take a calculated risk and bet on yourself! If you want to find FIRE like Delyanne did, don’t skip this one!
In This Episode We Cover
When it’s worth it to quit your “dream job” to start your own business and bet on yourself
Supporting your family and retiring your parents BEFORE they’re sixty-five years old
Why even lawyer salaries often can’t afford you the life you want to live
Paying off huge student loan debt and why you SHOULD invest before you’re debt-free
The importance of investing EVEN when the market is dropping fast and you’re feeling fear
Why you DON’T have to be self-employed to achieve FIRE (but you DO need to take risks)
And So Much More!
Links from the Show
BiggerPockets Money Facebook Group
Network with Other Investors on The Path to FIRE Through the BiggerPockets Forums
Finance Review Guest Onboarding
Join BiggerPockets for FREE
Mindy on BiggerPockets
Scott on BiggePockets
Listen to All Your Favorite BiggerPockets Podcasts in One Place
Apply to Be a Guest on The Money Show
Podcast Talent Search!
Find an Investor-Friendly Agent in Your Area
Find Investor-Friendly Lenders
Property Manager Finder
What Is the FIRE Movement?
How to Calculate the Risks Before Investing
The Mad Fientist on Early Retirement in Your 40s and 4% Rule Updates
From Extreme Poverty to DIY Wealth and 2 Full-Time Incomes w/The She Wolfe of Wall Street
00:00 Intro
01:10 Supporting Her Family as a Teen
07:34 Why Law School?
14:15 Finding FIRE and Switching Gears
21:50 Watching the Market Crash
27:37 Quitting Her High-Paid Job
35:35 Can W2 Workers Achieve FIRE?
39:19 Retiring Her Mom
41:44 Best FIRE Advice
42:54 Connect with Delyanne!
43:24 Take a Risk!
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-535
Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email [email protected]
Learn more about your ad choices. Visit megaphone.fm/adchoices -
Could Coast FI be your BEST path to financial independence? Maybe you don’t want to retire early—not yet, at least. Hustle for a few years, invest your money, and watch it snowball instead! This twenty-four-year-old saved nearly $100,000 with this strategy, and in today’s episode, she’ll show you how to do the same!
Emma von Weise was determined to take control of her finances at a very early age, getting her first job at just fourteen years old and saving money at every opportunity. This allowed her to not only escape college debt-free but also build a $99,000 net worth, a figure that will make her Coast FI until retirement—which isn’t on the radar anytime soon! Using her newfound financial freedom, Emma has built her “dream” life by working in a field she loves and taking plenty of time off to travel.
In this episode, Emma shares about all of the different jobs and side hustles she took up to supercharge her savings, as well as several creative “hacks” she used to help fund her college tuition. She also talks about some of the pivotal moments that shaped her views on personal finance, such as discovering the power of compound interest and finding an entire support system through the FI community!
In This Episode We Cover
How Emma became Coast FI by twenty-four and built a $99,000 net worth
Creative ways to fund your college education and escape debt-free
The real value of buying used cars from private owners (and where to find deals!)
How to create a fun and fulfilling life you don’t want to retire from
How to fast-track your fortune using the power of compound interest
Making your money work harder for you after stockpiling cash
And So Much More!
Links from the Show
BiggerPockets Money Facebook Group
Network with Other Investors on The Path to FIRE Through the BiggerPockets Forums
Finance Review Guest Onboarding
Join BiggerPockets for FREE
Mindy on BiggerPockets
Scott on BiggePockets
Listen to All Your Favorite BiggerPockets Podcasts in One Place
Apply to Be a Guest on The Money Show
Podcast Talent Search!
Find an Investor-Friendly Agent in Your Area
Find Investor-Friendly Lenders
Property Manager Finder
BiggerPockets Money Episode 474 - Mindy and Scott’s Favorite Sleepaway Camp for FIRE Chasers
BiggerPockets Money Episode 449 - Coast FI in 4 Years: Cutting Expenses, Doubling Your Income, & HUGE Savings
BiggerPockets Money Episode 323 – Coast FI: The Calculated Way to Retire Early WITHOUT Giving Up What You Love w/Jessica from The Fioneers
Learn More About EconoMe Conference
00:00 Intro
01:18 Working & Saving at 14!
07:32 Taking Control of Her Finances
10:52 Buying Used Cars
15:32 Creative Ways to Fund College
23:28 Learning to Invest
30:12 Joining the FI Community
37:48 $99K Net Worth at 24!
45:07 The Power of Coast FI
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-534
Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email [email protected].
Learn more about your ad choices. Visit megaphone.fm/adchoices -
Are you working towards FIRE or building a financial legacy? Then DON’T skip this episode! What’s the point of creating generational wealth if it will be lost after you’re gone? Jenny Rozelle, estate and elder attorney, is back on the show to answer some of our most pressing questions about wills, trusts, estate planning, and everything in between! She’s got some answers that even personal finance experts Mindy and Scott didn’t know. And if you’re just starting to think about preserving your future wealth, this episode may shock you, too.
From “napkin” wills to bad inheritances, protecting your heirs’ wealth from potential future divorce, and whether or not you’re owed millions after your tipsy Aunt promised you her vacation home, Jenny clears up all the misconceptions that most Americans have about inheritance and estate planning.
Plus, if you’ve got children or loved ones you’re planning to pass your wealth on to, it’s crucial to follow Jenny’s advice on updating your will. Neglecting to update your estate plans or planning around the wrong people could put your wealth at risk!
Check out Jenny’s part one episode here!
In This Episode We Cover
Whether or not a verbal promise of inheritance will hold up in the future
Revocable vs. irrevocable trusts and the ONLY two situations you’d choose an irrevocable one
When to update your will and why Jenny DOESN’T keep a set timeline
Protecting your heirs from losing their inheritance to divorce
What to do when you get an inheritance that brings you more headache than it’s worth
Why communication is critical in estate planning and who you should estate plan with
And So Much More!
Links from the Show
BiggerPockets Money Facebook Group
Network with Other Investors on The Path to FIRE Through the BiggerPockets Forums
Finance Review Guest Onboarding
Join BiggerPockets for FREE
Mindy on BiggerPockets
Scott on BiggePockets
Listen to All Your Favorite BiggerPockets Podcasts in One Place
Apply to Be a Guest on The Money Show
Podcast Talent Search!
Find an Investor-Friendly Agent in Your Area
Find Investor-Friendly Lenders
Property Manager Finder
BiggerPockets Money 532 - Building Generational Wealth? Don’t Lose It with This ONE Critical Mistake w/Jenny Rozelle
BiggerPockets Money 401 - The Post-Passing Plan: 3 Steps to Protect Your Family’s Financial Future
BiggerPockets Money 503 - How to Keep MORE of Your Inheritance From the IRS (Avoid These Tax Mistakes!)
00:00 Intro
01:28 Revocable vs. Irrevocable Trusts
02:29 The Estate Planning Timeline
05:35 Verbal Promises and Inheritance
10:21 When to Update Your Will
12:04 Protecting from Divorce
14:58 Who to Estate Plan WITH
18:23 The Downside of Inheritance
22:54 The “Napkin” Will
25:34 Make Your Estate Plan Today!
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-533
Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email [email protected]
Learn more about your ad choices. Visit megaphone.fm/adchoices -
You’re working hard to build wealth, but without estate planning, your assets could easily land in the wrong hands, causing your family a great deal of trouble. No one likes thinking about their death, but you NEED to tackle this issue head-on if you hope to preserve your legacy!
Welcome back to the BiggerPockets Money podcast! Today, we’re tackling two of the most taboo topics—death and money—with estate and elder attorney Jenny Rozelle. If you’re nearly ready to retire, you MUST develop an estate plan. Otherwise, intestate succession laws will determine your fortune’s fate. Even if you’re young and have little to your name, there are basic steps you can take today to ensure that your current and future assets don’t go to the wrong person.
In this episode, you’ll learn how to find the BEST estate planning attorney and prepare for your first meeting. Jenny also shares the truth behind probate and why it isn’t nearly as painful as it sounds!
Stick around for part two, where we rapid-fire estate planning questions at Jenny as she shares information even we didn't know about!
In This Episode We Cover
Basic estate planning documents every person needs (regardless of age)
What really happens in probate court (and why it’s NOT as scary as it sounds)
Intestacy explained, and how to stop your assets from landing in the wrong hands
How to make sorting out your estate as easy as possible for your loved ones
And So Much More!
Links from the Show
BiggerPockets Money Facebook Group
Network with Other Investors on The Path to FIRE Through the BiggerPockets Forums
Finance Review Guest Onboarding
Join BiggerPockets for FREE
Mindy on BiggerPockets
Scott on BiggePockets
Listen to All Your Favorite BiggerPockets Podcasts in One Place
Apply to Be a Guest on The Money Show
Podcast Talent Search!
Find an Investor-Friendly Agent in Your Area
Find Investor-Friendly Lenders
Property Manager Finder
BiggerPockets Money 397 - Estate Planning, Wills, and What to Do NOW to Protect Your Heirs
BiggerPockets Money 401 - The Post-Passing Plan: 3 Steps to Protect Your Family’s Financial Future
BiggerPockets Money 503 - How to Keep MORE of Your Inheritance From the IRS (Avoid These Tax Mistakes!)
00:00 Intro
01:27 Why You NEED an Estate Plan
07:52 Finding an Attorney & Probate 101
18:10 First Steps for Early Retirees
24:56 Getting Organized & Estate Planning Costs
37:00 Connect with Jenny!
37:29 Start Planning Today!
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-532
Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email [email protected]
Learn more about your ad choices. Visit megaphone.fm/adchoices -
If you follow these nine steps, you will reach financial independence. How do we know? Well, The Money Guy Show’s Brian Preston and Bo Hanson have tested it hundreds of times! Using this simple but extremely powerful “financial order of operations,” anyone from any background can achieve FIRE, even starting with nothing. From free money to becoming easily debt-free, building a solid financial foundation, and even paying off your mortgage early, Brian and Bo break down the exact route to financial freedom anyone can take.
But first, we’ll discover if you’re a “financial mutant.” The fact that you’re listening to BiggerPockets Money already proves that you might be. But for those who have struggled with high-interest credit card debt, low savings, and lackluster investing, this episode has EVERYTHING you need to become a financial powerhouse by making nine smart money moves.
We’ll walk through the entire financial order of operations, from saving money to cover your deductibles to building an emergency reserve, paying off bad debt, and the “hyper-accumulation” stage you must reach to watch your net worth explode. If you’re ready to take the steps to realize financial freedom in the not-so-distant future, stay with us and grab Brian’s newest book, Millionaire Mission!
In This Episode We Cover
The nine-step "financial order of operations" that will lead you to financial independence
Why building a $1,000 emergency fund is NOT enough and how much you really need
Whether or not to pay off your “high-interest” debt depending on your age
Why Brian and Bo advise people NOT to invest in real estate until they’re at THIS stage
The one investment account to max out before all the rest (it’s NOT your 401(k)!)
The “hyper-accumulation” stage that will explode your wealth (IF you can reach it)
And So Much More!
Links from the Show
BiggerPockets Money Facebook Group
Network with Other Investors on The Path to FIRE Through the BiggerPockets Forums
Finance Review Guest Onboarding
Join BiggerPockets for FREE
Mindy on BiggerPockets
Scott on BiggePockets
Listen to All Your Favorite BiggerPockets Podcasts in One Place
Apply to Be a Guest on The Money Show
Podcast Talent Search!
Find an Investor-Friendly Agent in Your Area
Find Investor-Friendly Lenders
Property Manager Finder
BiggerPockets Money 404 - How to Build Wealth in Three Simple Steps w/The Money Guy Show
BiggerPockets Money 510 - Morgan Housel: Financial Lessons From History Anyone Can Use to Get Rich
Grab Brian’s New Book, “Millionaire Mission”
00:00 Intro
01:38 Financial "Mutants" Among Us
02:52 The Financial Order of Operations
05:54 Cover Your HIGHEST Deductible
07:38 Get Your Employer Match
09:49 Build an Emergency Reserve
11:11 Paying Off "High-Interest" Debt
22:23 DON'T Invest in Real Estate?
28:34 "Hyper-Accumulation" of Wealth
36:47 Prepay Future Expenses
38:22 Pay Off LOW-Interest Debt
46:11 Grab the New Book!
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-531
Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email [email protected]
Learn more about your ad choices. Visit megaphone.fm/adchoices -
You DON’T have to spend your entire life chasing financial independence. Play your cards right, and you may not even need a whole decade! With a little hard work and sacrifice, today’s guest became a millionaire (and financially free) in just SIX years!
Welcome back to the BiggerPockets Money podcast! After years of “drifting” through life and racking up bad debt, Erichad a moment when he realized he might not be able to rely on his W2 income for as long as he had hoped. Seeing the writing on the wall, he decided to get serious about achieving financial independence—buying rental properties, fixing them up, and eventually flipping them for a huge profit. One “home run” deal catapulted him toward his FI goal and a $1 million net worth!
If you dream of financial freedom but don’t want to spend your whole life getting there, this episode is for you! Eric offers some helpful advice for those who are looking to start their own FIRE journey—including why new investorsshould buy “grandpa’s house,” how to uncover “rare” real estate deals on the multiple listings service (MLS), and how to get the maximum return on a few years of sacrifice!
In This Episode We Cover
How Eric became a millionaire and reached financial independence in SIX years
Why buying “grandpa’s house” is a cheat code for building wealth
How to start fixing and flipping houses (and turn a HUGE profit!)
How to find “rare” real estate deals on the multiple listings service (MLS)
Building your real estate portfolio by using your profits to buy MORE properties
And So Much More!
Links from the Show
BiggerPockets Money Facebook Group
Network with Other Investors on The Path to FIRE Through the BiggerPockets Forums
Finance Review Guest Onboarding
Join BiggerPockets for FREE
Mindy on BiggerPockets
Scott on BiggePockets
Listen to All Your Favorite BiggerPockets Podcasts in One Place
Apply to Be a Guest on The Money Show
Podcast Talent Search!
Find an Investor-Friendly Agent in Your Area
Find Investor-Friendly Lenders
Property Manager Finder
Grab Your Copy of “The Book on Flipping Houses”
BiggerPockets Money 516 - Jaspreet Singh: Getting Rich Slowly and Why Some People STAY Broke
BiggerPockets Money 481 - Building a $1 Million Net Worth in Only 3 Years by Investing in Real Estate
Connect with Eric on BiggerPockets
00:00 Intro
01:22Millionaire in 6 Years!
03:34 Buying “Grandpa’s House”
09:04 Eric’s BIG Turning Point
15:24 The Journey to $1 Million
19:08 The “Home Run” Rental
31:45 Moving to New Hampshire
33:13 How to Reach FI
36:13 Share Your Money Story!
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-530
Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email [email protected]
Learn more about your ad choices. Visit megaphone.fm/adchoices -
Financial independence by the age of twenty-five?! Today’s guest started working and saving money at a very early age, which allowed him to buy the time and freedom to do the things he values most. Whether you’re twenty-five or fifty-five, applying some of these simple principles to your own life can propel you toward financial freedom!
Welcome back to the BiggerPockets Money podcast! Today, we’re chatting with Gabe Bult, a YouTuber, serial entrepreneur, and real estate investor who reached financial independence before his twenty-fifth birthday—all by subscribing to financial minimalism and frugal living. The only thing stopping him from retiring early? Sheer boredom! Instead, Gabe’s day typically involves precious time with his daughter, a few hours making YouTube videos, and an afternoon spent enjoying his favorite hobbies and interests.
YOU can have this life, too, but not without a little sacrifice, education, and discipline. Fortunately, it only takes a few years of ferocious frugality to get ahead, save for the future, and become “set for life.” And in this episode, Gabe will show you how to do just that! You’ll learn how to save your first $25,000 (and what to do with it), live for free with the house hacking strategy, and start a business that allows you to earn more and work less!
In This Episode We Cover
How Gabe reached financial independence by the age of twenty-five
“Financial minimalism” explained (and why it’s MUCH easier than you think!)
How a few years of frugal living can fast-track your journey to FI
Living for FREE with the house hacking investing strategy
Starting a business that allows you to earn more and work less
And So Much More!
Links from the Show
BiggerPockets Money Facebook Group
Network with Other Investors on The Path to FIRE Through the BiggerPockets Forums
Finance Review Guest Onboarding
Join BiggerPockets for FREE
Mindy on BiggerPockets
Scott on BiggePockets
Listen to All Your Favorite BiggerPockets Podcasts in One Place
Apply to Be a Guest on The Money Show
Podcast Talent Search!
Find an Investor-Friendly Agent in Your Area
Find Investor-Friendly Lenders
Property Manager Finder
BiggerPockets Money 468 - ‘Bar Rescue’ Host Jon Taffer on the “Secret Recipe” for a Successful Business
Connect with Gabe on BiggerPockets
00:00 Intro
01:34 What Is Financial Minimalism?
04:38 A Day in the Life with FI
07:30 Gabe’s Money Journey
13:06 The Art of Entrepreneurship
16:30 House Hacking 101
24:34 Education & EXTREME Discipline
35:41 Connect with Gabe!
36:01 Become a Financial Minimalist!
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-529
Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email [email protected]
Learn more about your ad choices. Visit megaphone.fm/adchoices -
Starting your first or next business? This episode is for you. Today, we’re bringing you everything you need to know about small business taxes for beginners. Whether you’re a solo entrepreneur, partner, landlord, house flipper, Airbnb host, or something in between, you MUST know about these tax laws before you start making money with your own business because if you get them wrong, you could be paying a MASSIVE penalty come tax time. You could save yourself thousands, or TENS of thousands, just by tuning in!
Brandon Hall, CPA, runs a real-estate-focused tax and accounting firm for big and small real estate investors. But, even if you’re not investing in real estate, these tax tips also apply to YOU. In today’s episode, we threw dozens of hard-hitting tax questions at Brandon so you know what to do with your next side hustle or full-blown business.
We’ll discuss whether you need an LLC, the real benefits of getting one, and which business entity (LLC, S-corp, C-corp, etc.) makes the most sense for your specific business and tax needs. Making money on your own but NOT paying quarterly taxes? This could cost you BIG, but thankfully, Brandon goes through exactly how much you could owe. And if you want to owe less to the IRS, we’ll give examples of tax deductions plus, which are NOT worth it and could put you at a BIG audit risk.
Need a tax professional for your small business? Find one for free with BiggerPockets Tax and Financial Services Finder!
In This Episode We Cover
Self-employment and small business taxes for beginners
Whether or not you need an LLC and why most real estate investors have this all wrong
Estimated taxes and the MASSIVE penalty you’ll pay if you forget about this
Tax deductions and the audit red flags that the IRS is looking for
The different business entities you can start and which has the best tax benefits
The three things you NEED to set up an LLC and the most critical one beginners forget
“SALT” taxes and why those selling goods in different states could owe even more
And So Much More!
Links from the Show
BiggerPockets Money Facebook Group
Network with Other Investors on The Path to FIRE Through the BiggerPockets Forums
Finance Review Guest Onboarding
Join BiggerPockets for FREE
Mindy on BiggerPockets
Scott on BiggePockets
Listen to All Your Favorite BiggerPockets Podcasts in One Place
Apply to Be a Guest on The Money Show
Podcast Talent Search!
Find an Investor-Friendly Agent in Your Area
Find Investor-Friendly Lenders
How to Obtain Real Estate Professional Tax Status
Hear Past Episodes with Brandon:
BiggerPockets Real Estate 196 - LLCs, House Hacking, and Saving on Taxes with Brandon Hall
BiggerPockets Real Estate 269 - How the New Tax Code Affects Your Real Estate Investments
BiggerPockets Real Estate 934 - How to Pay Less Taxes by Buying Real Estate (1 Write-Off You’re Overlooking)
On the Market 96 - The Biggest Real Estate Tax Loophole You’ve (Probably) Never Heard Of
On the Market 165 - Year-End Tax Updates, New IRS Interest Rates, and URGENT News for LLCs
On the Market 187 - 100% Bonus Depreciation Coming Back? (Do NOT File…Yet)
00:00 Intro
01:42 Do You Need an LLC?
02:01 Different Business Entities
09:29 3 Steps to Set Up an LLC
16:49 KEY Dates to Know
19:14 Estimated Taxes
25:48 The “SALT” Taxes
31:56 Tax Deductions and Audit Red Flags
44:22 Claiming Passive Losses
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-528
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Think it’s too late for early retirement? Do you feel like just because you’re in your late thirties, forties, or fifties, FIRE doesn’t make sense for you? Well, think again because today’s guest defied the odds by retiring over fifteen years early, all while raising her daughter on her own and without a six-figure salary to sail her swiftly to a million-dollar net worth. Plus, she did all of it with no investing experience. If Jackie Cummings Koski can do it, so can you!
Jackie grew up in a single-parent household. Her father worked hard to support her and her five siblings. This instilled a strong work ethic in Jackie and made her realize that running towards hard things, not away from them, was the true path to success. She figured out college on her own and, shortly after, landed a corporate job that took her far away from the small town she grew up in. She got married and had her daughter, but then everything changed.
Jackie was getting divorced, forcing her to rely on herself fully for her financial future. In true Jackie fashion, she took this as a challenge and began educating herself as best as she could. Through smart saving, spending, and life-changing investing decisions, Jackie built her wealth in record time, reaching financial independence just ten years after finding the FIRE movement—all without any advantages!
In This Episode We Cover
How to reach financial independence without a high salary, inheritance, or advantages
Stock investing 101 and how intentional investing can explode your net worth
Why you must max out THESE investment accounts to be richer in retirement
How Jackie spends just $40,000 per year owning her own home and raising her daughter
Why you DON’T have to follow all the traditional FIRE rules to retire early
And So Much More!
Links from the Show
BiggerPockets Money Facebook Group
Network with Other Investors on The Path to FIRE Through the BiggerPockets Forums
Finance Review Guest Onboarding
Join BiggerPockets for FREE
Mindy on BiggerPockets
Scott on BiggePockets
Listen to All Your Favorite BiggerPockets Podcasts in One Place
Apply to Be a Guest on The Money Show
Podcast Talent Search!
Find an Investor-Friendly Agent in Your Area
Find Investor-Friendly Lenders
Money Podcast 154 - Bill Bengen (The Inventor of the 4% Rule) Talks Retirement, Past Crashes, and How You Can Withdraw Even More
Email Mindy for the Full 4% Rule Article!
Money Podcast 344 - Rethink Social Security: Myths, Benefits, and Clearing Up Misconceptions
Resources Mentioned in This Episode:
Better Investing
Root of Good
Mr. Money Mustache
Mad Fientist
1500 Days
00:00 Intro
01:14 FIRE at 49!
02:50 Making Money in Retirement
06:11 Early Years, College, and Getting Divorced
11:21 Working Her Way Through College
15:06 Getting Hired After College
15:50 Starting to Learn About Stocks
20:02 Finding the FIRE Movement
26:54 Spending and Saving
36:01 Jackie's Podcast and New Book!
38:20 Connect with Jackie!
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-527
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Personal finance doesn’t have to be complicated. Saving, investing, and retiring early shouldn’t be a stumbling path to wealth, but many Americans feel this way. So, to clear up some of the money misconceptions, we’re doing personal finance for beginners FAQ episode, where we take some of the most common money questions and answer them for you so you can start building wealth and get closer to financial independence!
Many of these questions come directly from the BiggerPockets Money Facebook page, where you can ask your money questions 24/7! First, we answer, “How many bank accounts should you have?” and walk through exactly how we split up our money. If you’re looking to start building wealth, we touch on the numerous ways to invest in real estate, from basic beginner investing strategies to purely passive income-generating expert tactics.
How much money do YOU need to retire? With the 4% rule, you can calculate it in seconds! We’ll explain this common money metric early retirees love to use and whether or not it still works in 2024. If you’re close to early retirement, should you start selling your investments to fund your financial freedom? We’ll share why most early retirees never need to sell their stocks, and speaking of stocks, we’ll also get into how to pick stocks and when to sell them!
In This Episode We Cover
The beginner money questions that you must have answers to if you want to build wealth
How many bank accounts do you REALLY need, and Scott’s 3-account-setup
Beginner and expert strategies to start investing in real estate (even with little money)
The 4% rule explained, and how much money you actually need to retire
How to pick stocks and whether or not index fund investing is a smarter move to make
Withdrawing money from your accounts when you finally reach financial freedom
And So Much More!
Links from the Show
BiggerPockets Money Facebook Group
Network with Other Investors on The Path to FIRE Through the BiggerPockets Forums
Finance Review Guest Onboarding
Join BiggerPockets for FREE
Mindy on BiggerPockets
Scott on BiggePockets
Listen to All Your Favorite BiggerPockets Podcasts in One Place
Apply to Be a Guest on The Money Show
Podcast Talent Search!
Find an Investor-Friendly Agent in Your Area
Find Investor-Friendly Lenders
Grab Your Copy “The House Hacking Strategy”
Past Episodes Mentioned in Today’s Show:
BiggerPockets Real Estate 136 - Shawn Holsapple
BiggerPockets Money 35 - Craig Curelop
BiggerPockets Money 120 - Michael Kitces
BiggerPockets Money 151 - Tony J Robinson
BiggerPockets Money 153 - Bill Bengen
Forbes: What Is The 4% Rule For Retirement Withdrawals?
Secret IRS Rule 72(t)! | Eric Cooper Shares Early Withdrawal Hack!
00:00 Intro
01:14 How Many Bank Accounts?
07:04 Ways to Invest in Real Estate
16:25 The 4% Rule Explained
23:36 Selling Investments to Retire Early?
30:28 How to Pick Stocks
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-526
Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email [email protected].
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Cryptocurrency enthusiasts can’t fathom why Bitcoin will fail. If you tell them that you’re not investing in Bitcoin or other cryptos, they look at you like an uneducated investor, a sheep following the crowd without thinking for yourself. The promise of Bitcoin is so great that you’d have to be an outright fool to deny it, and anyone who refutes the future golden age of a decentralized society is simply mistaken and is only coping with the oncoming collapse of fiat currency and Western civilization.
The problem with that theory? None of it is grounded in reality. Today, BiggerPockets CEO Scott Trench is going to prove it. After years of research on Bitcoin, the blockchain, and cryptocurrency as a whole, Scott has come to a simple conclusion: Bitcoin isn’t worth it. In fact, Bitcoin may be worth, unsurprisingly, nothing! But before all you Bitcoin maximalists come out of the woodwork, claiming we’re forever bullish on index funds and real estate, hear out Scott’s argument.
Scott will explain the case for Bitcoin and why its end goal is actually quite altruistic. However, five fatal flaws will stop Bitcoin from ever becoming a world reserve currency or replacing fiat money. Besides its fatal flaws, Bitcoin isn’t a foolproof cryptocurrency by any means, and we’ll prove it! Finally, Scott gives his Bitcoin price prediction and his recommendation if you do want to hold some Satoshis.
In This Episode We Cover
The rational investor’s case against Bitcoin and why it’s NOT an investment
The reasons why Bitcoin could change society for the better (but probably won’t)
Five fatal flaws of Bitcoin that will stop it from ever taking over fiat currency
How adopting Bitcoin could lead to a crashing economy with no growth
The blockchain’s big problems and proof that the world isn’t ready to adopt cryptocurrency
Scott’s long-term Bitcoin price prediction that will shock Bitcoin maximalists
And So Much More!
Links from the Show
BiggerPockets Money Facebook Group
Network with Other Investors on The Path to FIRE Through the BiggerPockets Forums
Finance Review Guest Onboarding
Join BiggerPockets for FREE
Mindy on BiggerPockets
Scott on BiggePockets
Listen to All Your Favorite BiggerPockets Podcasts in One Place
Apply to Be a Guest on The Money Show
Podcast Talent Search!
Find an Investor-Friendly Agent in Your Area
Find Investor-Friendly Lenders
BiggerPockets Money 371 - Bitcoin: Investing Fad or Final Bullet to Fiat Currency? w/Saifedean Ammous
Everyone’s Talking About Cryptocurrencies. Should You Invest?
4 Reasons Cryptocurrencies & Blockchain Technology Are Poised to Transform Real Estate
00:00 Intro
02:16 The Case FOR Bitcoin
09:51 5 Fatal Flaws of Bitcoin
14:29 Bitcoin is NOT a Perfect Crypto
21:46 The Blockchain’s Big Problems
26:58 Bitcoin Price Prediction
28:48 What if Bitcoin DOES Take Over?
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-525
Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email [email protected].
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Want to be a millionaire or build a business that brings in seven figures? Want generational wealth and to be debt-free? Want to know that you have enough money to take big risks while still keeping your bank account safe? If so, you need to start thinking like the rich to begin building wealth the same way they do. “That may be easy for you to say, you host the BiggerPockets Money Podcast!” Well, don’t take it from us; take it from Marc Russell.
Marc grew up without advantages. He was in foster care for as long as he could remember, bouncing from house to house until finally, at age thirteen, he was adopted by parents with a strong, valuable work ethic. When Marc went to college, he had no money to pay for it, so he fought tooth and nail with the financial aid office to find scholarships, loans, or anything that could help him graduate. He was even kicked out of school once over not being able to pay a $900 fee! But this taught Marc how the system worked and eventually led to him landing a job at every FIRE chaser’s favorite place, Vanguard!
Once Marc started helping the rich manage their money, he looked in the mirror and asked, “Why aren’t I doing these things?” Thus, he began imitating the investing tactics of the rich, budgeting for financial freedom, and investing everything he could, even if it meant a slower path to being debt-free. Now, Marc runs BetterWallet, helping everyday people start building generational wealth, no matter their circumstances.
In This Episode We Cover
How to copy the rich so you can build wealth no matter your upbringing
Student debt, side hustles, and how to make it through college with little money
Why you MUST save a large emergency reserve before you start working for yourself
Investing vs. paying off debt and why the unconventional choice may be the best one
Budgeting for your business and ensuring you have enough money before leaving your W2
And So Much More!
Links from the Show
BiggerPockets Money Facebook Group
Network with Other Investors on The Path to FIRE Through the BiggerPockets Forums
Finance Review Guest Onboarding
Join BiggerPockets for FREE
Mindy on BiggerPockets
Scott on BiggePockets
Listen to All Your Favorite BiggerPockets Podcasts in One Place
Apply to Be a Guest on The Money Show
Podcast Talent Search!
Find an Investor-Friendly Agent in Your Area
Find Investor-Friendly Lenders
BiggerPockets Money 329 - From Extreme Poverty to DIY Wealth and 2 Full-Time Incomes w/The She Wolfe of Wall Street
BiggerPockets Money 485 - How to Start Thinking, Acting, and Investing Like the Rich w/Vivian Tu
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-524
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Is a six-figure salary enough to achieve FIRE? If you’re working towards financial independence, you know that any extra money at the end of the month can help propel you to your goals faster, but with inflation eating away most, if not all, of your paycheck, what do you do? If you want to reach early retirement, do you need a massive salary to save you from the high cost of rent, food, gas, and other everyday essentials? Or, can you easily retire with a $100K/year incomeif you make the right moves? Let’s find out!
Today, Scott and Kyle are reviewing some of the hottest headlines in the world of personal finance and giving you their honest opinions. First, we talk about whether or not a six-figure salary is enough to achieve the “American Dream,” and if it isn’t, what YOU can do to make the most of that money. Then, we venture to a debate that everyone has an opinion on: should you withdraw from your retirement reserves to buy your first primary residence? Is this a smart money loophole or a move that could cost you in the long run?
How much do you need to retire? According to Americans, the figure is close to $1.5M, but is this actually how much a smart saver or spender would need? Plus, we talk about the one generation on a surprisingly great track to wealth in retirement (it’s NOT the boomers!). Finally, are you fed up with guilt tipping? Don’t want to pay an extra quarter of your bill every time you go out to eat? Join the club because we’re discussing how tipping is getting out of control.
In This Episode We Cover
Whether or not a $100K/year income is enough to achieve the “American Dream”
Using retirement funds to pay for your primary residence (when NOT to do this)
How much Americans need to retire, and ways to retire with even less
The one real estate investment ANY young American should be making today
Why younger generations are on track to retire rich and achieve FIRE
Tipping culture and what percentage we press when the payment screen turns around
And So Much More!
Links from the Show
BiggerPockets Money Facebook Group
Network with Other Investors on The Path to FIRE Through the BiggerPockets Forums
Finance Review Guest Onboarding
Join BiggerPockets for FREE
Mindy on BiggerPockets
Listen to All Your Favorite BiggerPockets Podcasts in One Place
Apply to Be a Guest on The Money Show
Podcast Talent Search!
Money Moment
Find an Investor-Friendly Agent in Your Area
Find Investor-Friendly Lenders
Grab the Personal Finance Classic, “Rich Dad Poor Dad”
BiggerPockets Money Podcast 344 - Rethink Social Security: Myths, Benefits, and Clearing Up Misconceptions
Articles from This Episode:
$100K/Year
Withdrawing from Retirement
How Much to Retire
Gen Z’s House Hacking
Guilt Tipping
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-523
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Moving is hard. But could relocating to a low-cost-of-living area help you lead a more fulfilling life and achieve financial freedom? As today’s guest came to find out, the benefits of living in an affordable area often outweigh the glitz and glamor of a big city!
Welcome back to the BiggerPockets Money podcast! Today, we’re chatting with Allison Irby Vu, a financial planner who made a huge cross-country move in pursuit of a better financial future. With roots planted in Washington, D.C., Allison hadn’t considered moving until she stumbled across a program that offered her $10,000 to relocate to Tulsa, Oklahoma! Little did she know that this MAJOR life change would not only improve her financial situation but also allow her to spend more time with her son and tight-knit community.
In this episode, you’ll hear all about Allison’s journey from her hometown to Tulsa. She shares how she went from living paycheck to paycheck (despite earning close to six figures!) to having an abundance of time and money for the things she values most. Allison also highlights the pros and cons of living in an area like Tulsa and how remote workers can plan their next big move!
In This Episode We Cover
How to reach financial freedom by moving to a low-cost-of-living area
Getting PAID to move to a more affordable city (and how to qualify!)
How to pay off large amounts of debt as quickly as possible
Creating a budget that allows you to spend money on the things you value
How to take FULL advantage of your remote job (and live anywhere in the world!)
The biggest pros and cons of moving to an area like Tulsa, Oklahoma
And So Much More!
Links from the Show
BiggerPockets Money Facebook Group
Network with Other Investors on The Path to FIRE Through the BiggerPockets Forums
Finance Review Guest Onboarding
Join BiggerPockets for FREE
Mindy on BiggerPockets
Scott on BiggePockets
Listen to All Your Favorite BiggerPockets Podcasts in One Place
Apply to Be a Guest on The Money Show
Podcast Talent Search!
Find an Investor-Friendly Agent in Your Area
Find Investor-Friendly Lenders
BiggerPockets Money 11 – Designing a Frugal But Luxurious FI Life by Age 32
BiggerPockets Money 500 – FIRE Advice from Codie Sanchez, Ramit Sethi, Money with Katie, and More!
Learn More About the Tulsa Remote Program
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-522
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Could real estate investing help you reach financial freedom much sooner than you thought possible? Today’s guest had his world turned upside down by one tragic incident, but he was able to quit his W2 job, pivot to real estate, and fast-track his journey to FIRE!
Today, we’re chatting with technology instructor turned full-time real estate investor Keith Nugent. After a skydiving accident rendered him unable to perform his previous job duties, Keith knew he needed a new path to financial independence. Fortunately, he discovered real estate at the perfect time. Taking advantage of the fallout from the 2008 housing market crash, Keith started loading up on rental properties—often buying them for pennies on the dollar. In just twelve years, he had not only achieved his goal of thirty cash-flowing units by 2020 but also added an additionalten units to his portfolio!
Thanks to real estate, Keith now has a career that fully accommodates his disability and will allow him to retire early. In the meantime, he enjoys his newfound financial freedom by traveling the world and spending time with his FIRE-bound friends. In this episode, Keith offers practical tips on how to start investing in real estate—from choosing your market to buying your first rental property and more!
In This Episode We Cover
How Keith became a full-time real estate investor after a tragic skydiving accident
How to replace your W2 income and achieve financial freedom with real estate
Why time in the market is MORE important than timing the market
How to determine how much cash flow you need to support your retirement
Why you NEED an estate plan and how to decide who inherits your assets
And So Much More!
Links from the Show
BiggerPockets Money Facebook Group
Network with Other Investors on The Path to FIRE Through the BiggerPockets Forums
Finance Review Guest Onboarding
Join BiggerPockets for FREE
Mindy on BiggerPockets
Scott on BiggePockets
Listen to All Your Favorite BiggerPockets Podcasts in One Place
Apply to Be a Guest on The Money Show
Podcast Talent Search!
Find an Investor-Friendly Agent in Your Area
Find Investor-Friendly Lenders
Money Podcast 330 - The Ultimate Teen Money Hack for Parents
Money Podcast 397 - Estate Planning, Wills, & What to Do NOW to Protect Your Heirs
Grab Your “Family Emergency Binder”
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-521
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The best side hustles can put some extra cash in your pocket, help you leave your W2 job, or even launch you toward FIRE. If you’re looking to make money in ways other than real estate investing, you don’t want to miss this side hustle special!
Nick Loper, founder of Side Hustle Nation and host of The Side Hustle Show, has been building businesses since he was a teenager. From lucrative digital assets to service-based ventures, Nick has done it all, and today, he’s bringing some fresh ideas for you to try. As you’re about to learn, these fledgling businesses come in all shapes and sizes. Some take years to nurture before you reap any reward for effort, while others allow you to start earning immediately. In any case, you need to choose one you’re interested in and stick with it if you want to see results!
In this episode of the BiggerPockets Money podcast, Nick dives into some of his favorite side hustles—many of which you can start TODAY with little to no money and minimal time. You’ll learn whether it’s still possible to build amoney-making blog in 2024, as well as how to make extra income by renting out assets like inflatables, hot tubs, and vending machines!
In This Episode We Cover
Nick’s favorite low-money side hustle ideas (not named real estate!)
How to turn your own side business into a money-making machine
Creative ways to earn royalties from YOUR original works or ideas
How to build a digital asset that generates income for years to come
Why you MUST follow the “rule of one hundred” with every new side hustle
The non-digital assets you can rent out for a HUGE profit
And So Much More!
Links from the Show
BiggerPockets Money Facebook Group
Network with Other Investors on The Path to FIRE Through the BiggerPockets Forums
Finance Review Guest Onboarding
Join BiggerPockets for FREE
Mindy on BiggerPockets
Scott on BiggePockets
Listen to All Your Favorite BiggerPockets Podcasts in One Place
Apply to Be a Guest on The Money Show
Podcast Talent Search!
Find an Investor-Friendly Agent in Your Area
Find Investor-Friendly Lenders
How Anyone Can Easily Make Extra Money Using Side Hustles with Nick Loper
Finance Friday: Pay Off Debt, Invest in Real Estate, or…Buy Vending Machines?
Make an Extra $100/Day with These Work-From-Home Side Hustles
Hear Nick on “The Side Hustle Show”
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-520
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Want to know how to avoid capital gains on your next home sale? If you tune in, you may dodge a quarter-of-a-million-dollar bullet (or more!). What about investing in one of the most tax-advantaged accounts that almost EVERYONE should have but most people don’t? What do you do when a family member asks to borrow money from you but has a bad track record with keeping their personal finances together? We’re getting into it all and more on this finance FAQ with Amanda and Scott!
We get a ton of personal finance questions through the BiggerPockets Forums and our Facebook Page, so we decided to round up some of the most common ones and answer them for you. First, we’re talking about how to dodge capital gains tax when selling your home. Then, a concerned listener asks whether they should take out a loan on a family member’s behalf. A high-income earner wants to know whether renting or buying is their best bet, and we share whether paying off your mortgage early is a mistake!
Got a medical expense coming up, or just want to boost your retirement investing? We’ll answer whether an HSA (health savings account) beats an FSA (flexible spending account)—but make sure you get this one right. If you invest in one of these accounts the wrong way, you’ll be throwing money away. Finally, a debt-free chaser asks whether they should use their emergency reserves to pay off debt or keep slowly slogging away with the snowball method.
In This Episode We Cover
How to avoid capital gains tax when selling your primary residence
HSAs (health savings accounts) vs. FSAs (flexible spending accounts)
Whether or not to use your emergency fund to pay off credit card debt
Why you may want to reconsider loaning a family member money
Whether to buy or rent in today’s housing market (EVEN with low money down)
Pay off your mortgage early or invest the rest of your money?
And So Much More!
Links from the Show
BiggerPockets Money Facebook Group
Network with Other Investors on The Path to FIRE Through the BiggerPockets Forums
Finance Review Guest Onboarding
Join BiggerPockets for FREE
Mindy on BiggerPockets
Listen to All Your Favorite BiggerPockets Podcasts in One Place
Apply to Be a Guest on The Money Show
Podcast Talent Search!
Money Moment
Find an Investor-Friendly Agent in Your Area
Find Investor-Friendly Lenders
Fidelity Investments
She Wolf of Wall Street Website
Emergency Fund: How Much Do You Really Need in 2024?
How to Pay Off Credit Card Debt FAST ($30K+ in 1 Year!)
Renting a Home Is Financially Better Than Buying—Wait, What?!
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-519
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Whether you know it or not, “shrinkflation” is costing you. You’re paying more for less, as manufacturers boast record profits. Your paycheck is getting eaten away faster and faster every month, but you’re left with the same amount of stuff. How did this happen, and when is it going to stop? Phil Lempert, AKA the “SupermarketGuru,” has been analyzing consumer behavior, marketing trends, and the retail landscape for over two decades. Now, he’s sharing thetricks manufacturers use to get you to spend more while expecting less.
Shrinkflation has become such a severe problem that even the president of the United States has recently mentioned its damaging effects on the American household. Phil gives us the inside scoop on why prices are rising while sizes shrink, how retailers are actually fighting back to get customers the savings they deserve, and which products are seeing the most shrinkflation today.
Phil also shares his top tips to beat shrinkflation and save more money every month, how to show the companies that you WON’T put up with their price gouging games, easy ways to identify shrinkflation, and the supermarket chains that give you the best bang for your buck. If you’re tired of seeing your grocery bill inflate while your bank account shrinks, this is an episode you cannot miss!
In This Episode We Cover
Shrinkflation explained, and how manufacturers are taking advantage of Americans
Products that are seeing the most shrinkflation and which items to avoid
Why America’s need for “choice” is making shrinkflation even worse
The grocery stores and brands that are the best for budget-conscious shoppers
How to identify shrinkflation and the sneaky tricks manufacturers play to get you to spend more for less
How to take action against shrinkflation and tell brands to STOP ripping you off!
And So Much More!
Links from the Show
BiggerPockets Money Facebook Group
Network with Other Investors on The Path to FIRE Through the BiggerPockets Forums
Finance Review Guest Onboarding
Join BiggerPockets for FREE
Mindy on BiggerPockets
Scott on BiggePockets
Listen to All Your Favorite BiggerPockets Podcasts in One Place
Apply to Be a Guest on The Money Show
Podcast Talent Search!
Find an Investor-Friendly Agent in Your Area
Find Investor-Friendly Lenders
Cutting Your Grocery Bill in Half with Erin Chase from $5 Dinners
Persuasion Secrets and Predatory Practices Businesses Use on YOU
Supermarket Savings Tips: How to Avoid Shrinkflation as Some Companies Give Consumers Less
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-518
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