Avsnitt

  • Are you worried you won’t be able to retire at sixty-five? Feeling financially limited in your fifties and need a retirement plan so you can finally stop working? Well, we made this episode just for you. Today, we’re teaching you how to retire on time at age sixty-five (or even retire early!) if you’re starting from zero with no money to your name. We spell out exactly what we would do to go from a zero-dollar net worth to a million dollars in retirement!
    This is a step-by-step plan that anyone who wants to retire on time can follow. We’ll walk through two personas: Barb, a recently divorced stay-at-home mom reentering the workforce with a zero-dollar net worth. Then, we’ll touch on Sally, a six-figure income earner who also is starting from zero. Both scenarios take slightly different steps, so listen closely because your income level could completely change your money moves!
    Don’t give up on retirement! No matter your age, these simple steps can help get you to a financially stable (if not flourishing) position. We’ll talk about how to make more money, cut expenses, save every month, which investments you should prioritize for retirement, and what to do if you’re still in debt!

    In This Episode We Cover
    How to go from broke at fifty to millionaire (and retirement-ready!) at sixty 
    The one beginner-friendly investment that could make you richer (faster) than traditional retirement accounts 
    Starting a side hustle and how to make more money so you can retire faster 
    The passive, stable, and relatively safe investment that anyone can put their money into 
    When to pay off debt and which interest rates to prioritize first 
    How to become a personal finance genius in just a year simply by “listening” 
    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
    BiggerPockets Money 169 - Breaking the Taboo of Talking About Money with Friends, Family, and Bosses w/Erin Lowry 
    BiggerPockets Money 586 - Average Net Worth by Age (How Do You Compare?)
    Email [email protected] for a Free Copy of Set for Life
    Support Today’s Show Sponsor, Connect Invest, the Alternative Way to Earn Passive Income Through Real Estate
    Grab Scott’s Book, “Set for Life”
    Find an Investor-Friendly Agent in Your Area
    BiggerPockets Money 422 - The Late Starter’s Guide to Financial Independence (Even in Your 50s!)

    (00:03) Intro
    (02:21) How to Start from ZERO!
    (06:33) Stay-at-Home Mom, No Income, Divorced
    (20:08) Six-Figure Income, $0 Net Worth
    (27:32) Investing Your Money
    (31:34) Paying Off Debt
    (36:24) Want More Retirement Strategies?

    Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-591

    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

  • Do you want to know how to save $1,000 a month (or more!) with simple spending and saving tweaks? Today, we’re giving you the BEST money hacks for 2025 from the expert, Chris Hutchins of All the Hacks! Some of these smart money moves will save Chris over $20,000 just next year, and that’s not even including all the other hacks he shared in this episode. The best part? These money hacks can help you retire early by substantially reducing your cost of living.
    Chris starts by sharing one of the most genius ways he’s making extra money. You could call it a side hustle, and Chris has a LOT of them to share. Then, we start taking HUGE chunks of money out of your monthly expenses as Chris shows you how to slash all your insurance costs, reduce your property taxes effortlessly, save tens of thousands a year on healthcare, and easily go out to eat for thirty percent less.
    If your 2025 goal is to save more, spend less, and get to FIRE faster, this is the perfect way to start, and missing out on these tips could cost you tens of thousands! 

    In This Episode We Cover
    Chris’s favorite side hustle of 2024 that’s making him extra money (nobody has thought of this!)
    How to slash your property tax bill in exchange for a couple of hours of your time
    Reevaluating your car insurance and why you MUST get new quotes ASAP
    Savvy healthcare hacks that could save Chris $24,000 this year alone 
    How to get a deep discount whenever you eat out (twenty to thirty percent off!)
    The one thing you can’t (and probably shouldn’t) hack 
    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
    BiggerPockets Money 473 - Holiday Shopping Hacks That’ll Save You Hundreds (or Thousands) This Season w/Chris Hutchins
    BiggerPockets Real Estate 783 - Home Buying Hacks: Finding The Perfect House (and Agent!) w/Chris Hutchins
    BiggerPockets Real Estate 955 - BiggerNews: Real Estate vs. Stocks, the Ultimate Wealth-Building Debate w/Chris Hutchins and The Motley Fool
    Why You Shouldn't Stop Working Once You Hit Financial Freedom w/Chris Hutchins
    All the Hacks 
    All the Hacks 34 - Insider Tricks to Healthcare, Prescriptions and Medical Bills with Marshall Allen
    All the Hacks 104 - Optimizing Your Insurance Policies (Auto, Home/Renters, Umbrella, Life, Disability, Pet, and Travel)
    All the Hacks 181 - Making an Easy $3k/mo from Online Deals with Kai
    Blueberry Pediatrics 
    in-kind - Restaurant Savings App
    Ownwell - Property Tax Reducer 
    Summer Health 
     

    Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-590

    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

  • Saknas det avsnitt?

    Klicka här för att uppdatera flödet manuellt.

  • Alex Preziosi wants to reach financial independence by the age of forty-five, and with several hundred thousand dollars in retirement accounts, brokerage accounts, and savings, she’s on pace to do just that. But now, she’s thinking about quitting her W2 job. Can she still hit her FI goal? Today’s guest has good problems, but problems, nonetheless!
    Welcome back to the BiggerPockets Money podcast! Since we last spoke with Alex, she has made two major leaps on her journey to financial independence. First, she has taken up house hacking, which pays for most of her mortgage in an expensive area of the US. But that’s not all. She has also grown her side hustle as a real estate agent into a full-fledged business, where she now earns more than she does at her W2 job! These moves have only widened the gap between her income and her expenses, and, as a result, she’s sitting on an even bigger pile of cash.
    Now, Alex finds herself at yet another crossroads. Is her W2 holding her back? Should she pursue full-time entrepreneurship while she has such a strong cash position? Stay tuned as we dive into the numbers and try to figure out Alex’s best path to FI by forty-five!

    In This Episode We Cover
    The best path for Alex to reach financial independence by forty-five
    When to leave your W2 job and pursue full-time entrepreneurship
    How to lower (or eliminate!) your housing cost with the house hacking strategy
    Where to invest a large amount of cash (stock market versus real estate)
    Tax strategies that could help you save a fortune over your lifetime
    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
    How to Talk to Anyone
    Buy Scott’s Book “Set for Life”
    Find an Investor-Friendly Agent in Your Area
    BiggerPockets Money 395 – Finance Friday: House Hacking, Side Hustles, and the Path to FI by 45 w/Alex Preziosi
    Connect with Alex


    (00:00) Intro
    (01:14) Alex’s Money Journey
    (04:26) House Hacking Numbers
    (08:01) Money Snapshot
    (14:24) Leaving Her W2?
    (23:30) Buying More Rentals
    (29:57) Alex’s Investing Strategy
    (36:13) HUGE Cash Position
    (43:21) Connect with Alex!
    (44:57) “Unlock” Your Potential!
     

    Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-589

    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

  • Many people struggle with money anxiety, even those in the FIRE community. Your money fears could keep you on the sidelines, or it could have the opposite effect, making you ultra-conservative with your retirement savings. Today, we’re diving into five of the most common financial fears, whether they’re worth fretting about, and what to do about them!
    Welcome back to the BiggerPockets Money podcast! Do you ever worry about your finances? You’re not alone! Maybe you’re concerned about your FIRE number being too low and running out of money in retirement. Maybe you’ve wondered whether you’ll ever be able to afford a house or if the “grind” to financial independence is even worth it. We’ve pulled the most common concerns about money and are going to respond to each of them in today’s show!
    Tune in to learn how much money you actually need to comfortably retire, how to deal with burnout on the journey to FIRE, and if you’re “missing out on life” by practicing frugality in your youth. Scott and Mindy will even debate whether the returns from real estate investing are worth the trouble of managing rental properties!

    In This Episode We Cover
    How much money you actually need to retire (and if the four-percent rule still works)
    Renting versus buying a house amidst today’s high home prices and interest rates
    Whether the “grind” to early retirement is worth it (and what you should do if it’s not!)
    Active versus passive real estate investing (and which delivers the highest returns)
    Whether you “miss out on life” by living frugally and racing toward retirement
    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
    BiggerPockets Money 455 – REITs: How to Make Real Estate Money WITHOUT Owning Rentals
    Rent vs. Buy Spreadsheet
    The Passive Real Estate Investing Show
    The 1% Rule
    “Determining Withdrawal Rates Using Historical Data”
    Try Baselane, the One Platform for All Your Property Banking & Finances
    Buy Scott and Mindy’s Book, “First-Time Home Buyer”
    Find an Investor-Friendly Agent in Your Area
    BiggerPockets Money 522 – How to Get PAID to Live in an Affordable City & Fast-Track Financial Freedom

    (00:00) Intro
    (01:27) “Missing Out” on Life
    (08:01) Running Out of Money
    (15:41) High Housing Costs
    (24:10) Low Rental Property Returns
    (32:13) Burnout Before FIRE
    (34:19) What We’re Reading!

    Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-587

    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

  • Dion McNeeley retired in just ten years after starting from not just zero but NEGATIVE. He was forty years old with $89,000 in debt, had no assets, a low-paying job, and zero investing experience. Thanks to his “lazy” method of building wealth, he was able to amass millions of dollars in assets, create over $200,000 per year in passive income streams, and retire just ten years after starting his journey to FIRE. Can you do it, too, even in today’s markets? Yes!
    Dion did what most people aren’t willing to: lower your cost of living, spend less, save more, and yes…house hack. He built a small real estate portfolio just by house hacking alone. Still, thanks to the compounding effect of real estate, Dion’s passive income from the rentals began to overtake his monthly expenses. Now, he rakes in four to five times more than he could ever spend. Who wouldn’t want a $200,000 per year income stream in retirement?!
    But it’s NOT too late to copy Dion’s exact strategy. In fact, Dion is sharing why NOW is one of the best times ever to get into real estate investing and how you, too, in ten years or less, could be making major passive income and enjoying early retirement!

    In This Episode We Cover
    How to explode your passive income by slowly investing in real estate
    Dion’s journey from $89,000 in debt and low-paying jobs to financial freedom
    Why Dion encourages you to IGNORE what everyone is saying about the housing market 
    A $1,000,000 mistake that Dion made that you should NOT repeat (DON’T pay off your house!)
    Why Dion doesn’t care about growing a big real estate portfolio (and you shouldn’t either!)
    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
    Support Today’s Show Sponsor, Connect Invest, the Alternative Way to Earn Passive Income Through Real Estate
    Want to Retire Early with a Small Rental Portfolio? Grab the Book “Small and Mighty Real Estate Investor”
    Find an Investor-Friendly Agent in Your Area
    The Lazy Person’s Guide to Financial Freedom in Less Than 10 Years with Dion Mcneeley
    Connect with Dion

    (00:00) Intro
    (01:00) $89K of BAD Debt
    (07:00) Do This NOW!
    (10:58) Great News for Landlords
    (13:43) Dion's $1,000,000 Mistake
    (16:19) No Stocks, No Bonds...Just Rentals?
    (18:15) "Reverse Budgeting"
    (19:58) Emergency Reserves and Current Portfolio
    (22:13) Working 2 Hours a MONTH!
    (23:49) Dion's FIRE Advice
    (27:39) Connect with Dion!


    Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-587

    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 beating the average American in personal finances? Today, we’re sharing the average net worth by age to see where exactly you stack up. Whether you’re in your twenties, thirties, forties, or fifties, we have the data showing whether you’re behind (or ahead of) the norm. What do you do if you feel like you’re falling behind? Don’t worry; we’re also giving tips on how every age bracket can improve its net worth. 

    Don’t know how to calculate your net worth? It’s easy, and you can do it in minutes after (or even during) this episode. Once you know your net worth, it’s time to decide your next move. Do you need to make more money so you can invest faster? Are you close enough to FIRE that you can let your foot off the gas a bit? Should you buy that new boat? No! Don’t ever buy a boat. 

    We’re also sharing our own net worth journeys and the money moves we made that skyrocketed our wealth to millionaire status. You can’t go back in time and copy everything we did, but you CAN copy some of our same strategies to boost your net worth! 

    In This Episode We Cover
    The average net worth for Americans in their twenties, thirties, forties, and fifties 
    How the rich invest differently than most of us (and what they’re buying)
    How to calculate your net worth and whether primary residence equity is included or not 
    What everyone in their twenties should be doing with their money to secure a comfortable retirement 
    Why you DON’T need to be a mega-high income earner to become a millionaire 
    The reason Scott thinks YOU should be starting a business to FIRE faster 
    And So Much More!

    Links
    BiggerPockets Money 35 - Hacking Your Life to Live for (Almost) Free with Craig Curelop
    BiggerPockets Money 416 - Codie Sanchez: These “Boring Businesses” Will Make You Rich
    BiggerPockets Money 491 - Why You DON’T Need a College Degree to Reach Financial Freedom w/Adrian Zapata and Javier Leyva
    Visual Capitalist Composition of Wealth


    Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-586

    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

  • There’s a “middle-class trap” that can keep anyone from FIRE—yes, even high-income earners. Today’s guest has a sizable nest egg that should allow her to retire early, but there are a few roadblocks in her way!
    At forty-seven, Allie has already built a net worth of $3,800,000. She would like to retire, and most people would assume she has enough to retire, but there are two problems. First, she lives in Orange County, California, one of the most expensive areas in the U.S., and has no plans to leave. The other issue? She has no cash! All of her money is tied up in home equity and retirement accounts. To retire, Allie has a BIG bet to make—one that could have a multi-million-dollar impact on her portfolio!
    Using Scott’s “Keep or Sell Your Home” worksheet, we’ll look at whether it would make more sense for Allie to keep or sell her Laguna Beach property. Will turning this home into a rental property give her the cash flow she needs, or is selling it and investing in the stock market the better long-term play? Tune in as we attempt to thread the needle and provide Allie with the best roadmap for a long, early retirement!

    In This Episode We Cover
    What Allie should do to reallocate her $3,800,000 nest egg and achieve financial freedom
    What to do with money locked up in home equity and retirement accounts
    Keeping your home as a rental property versus selling it and investing elsewhere
    Creative ways to improve your cash position so that you can retire early
    Building wealth with short-term rentals, live-in flips, and other real estate strategies
    Escaping the “middle-class trap” of earning high income in a high-cost-of-living area
    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
    Support Today’s Show Sponsor, Connect Invest, the Alternative Way to Earn Passive Income Through Real Estate
    Buy Scott’s Book, “Set for Life”
    Find an Investor-Friendly Agent in Your Area
    Finance Friday: How the “Middle-Class Trap” Stops Your Early Retirement

    (00:00) Intro
    (01:00) Allie’s Money Journey
    (03:36) Money Snapshot
    (13:50) Retiring in Laguna Beach
    (19:01) Keeping vs. Selling Her Home
    (26:06) The BIG Bet on Real Estate
    (34:01) Growing Cash & Renting Her Home
    (43:41) Real Estate vs. Stocks
    (52:02) What Should Allie Do?

    Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-585

    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

  • Is frugality overrated? Is hustle culture a waste of time? Do we over-save for retirement? You don’t have to look very far to find a hot take online, but is there some truth to these opinions? Today, we’ll wade through bad financial advice, bust common money myths, and (hopefully) find some personal finance tips we agree with!
    Welcome back to the BiggerPockets Money podcast! Personal finance is personal for a reason. Spending, saving, and investing vary from one person to the next based on their habits, risk tolerance, and season of life. But how much advice is just flat-out wrong? In this episode, Mindy and Amanda Wolfe are breaking down some of the internet’s wildest views on money. First, we’ll share some of the biggest lies we were told about money when we started our financial independence journeys—like “the stock market is too risky” and “you should work until age sixty-five.”
    Then, we’ll dive into seven controversial opinions and whether there’s any validity to them. Should FIRE-focused folks ever take work sabbaticals? Is a one or two-month emergency fund enough in 2024? Is being a lifelong renter ever a savvy move? Which takes do we oppose, and which advice is actually worth following? Stay tuned to find out!

    In This Episode We Cover
    The biggest lies about money Mindy and Amanda used to believe
    Whether work sabbaticals are a smart use of money on the journey to FIRE
    The case against budgets and why you probably have one (even if you think you don’t)
    Whether Americans save TOO much money for retirement (and why!)
    Why it’s not overkill to keep a six-to-twelve-month emergency fund in 2024
    The costs of buying a house and whether renting is ever the better retirement play
    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
    BiggerPockets Money 97 - Intentionally Choosing the Path to Financial Independence with Financial Mechanic
    BiggerPockets Money 110 - Systematically Increasing Income and Intentionally Decreasing Spending with A Purple Life
    Amanda’s Website
    Reach FIRE Faster with the Book “Set for Life”
    Find an Investor-Friendly Agent in Your Area
    Do You Need Debt to Reach FIRE? How to Use Leverage to Build Wealth

    (00:00) Intro
    (00:58) Money Lies We Used to Believe
    (03:25) Sabbaticals Are “Irresponsible”
    (07:33) I Don’t Budget!
    (11:47) We Save TOO Much
    (19:54) Frugality Is Overrated
    (25:45) Hustling Is a Waste of Time
    (32:23) I’d Rather Rent Than Buy
    (34:57) Your Emergency Fund’s Too Big
    (41:42) Connect with Amanda!

    Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-584

    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 the almost unbelievable path of today’s guest, you, too, could achieve financial independence in your thirties. Would we recommend mimicking his strategy step-by-step? No! Because if you get it wrong, you could be further from FIRE than when you started. Only the most prudent, risk-tolerant, and financially savvy among us could do what Andrew Schrader did. 
    After racking up six figures in car loans and student debt, Andrew knew something needed to change quickly. Thanks to his financial discipline, he paid his debts down fast, but what would he now do with the money he was sending toward debt every month? After a coworker threatened to quit on the spot without a care in the world (the coworker was FI), Andrew knew exactly what his next goal was.
    So, he set out to do the impossible: Stretch his dollar as frugally as possible, spending in a year what many Americans live off of for a month and taking calculated bets that he knew the risks of. His unbelievable journey to FI will have you squirming in your chair (like Mindy did!) as you hear what incredible lengths you can go to reach your financial goals WAY faster than most Americans. 

    In This Episode We Cover
    How to reach financial freedom in your thirties by taking “calculated” risks 
    The exact method Andrew used to pay off $100,000 in debt 
    Why house hacking may be the single best decision for FIRE-chasers 
    Why Andrew put an entire home renovation on a credit card when he was close to broke
    Emergency funds 101 and why it’s crucial to have money in the bank when buying real estate 
    Saving tons of money by cutting out a “category” every month 
    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
    BiggerPockets Creative Financing Forum
    Finding and Funding Great Deals
    Raising Private Capital, Revised Edition
    Wealth without Cash
    Andrew’s YouTube Channel 
    Support Today’s Show Sponsor, Connect Invest, the Alternative Way to Earn Passive Income Through Real Estate
    Grab "The Book on Investing in Real Estate with No (and Low) Money Down"
    Find an Investor-Friendly Agent in Your Area
    House Hacking 101: What It Is and How to Get Started
    Connect with Andrew

    (00:00) Intro
    (01:48) Stock Betting and $100K Debt
    (04:12) Watching His Coworker FIRE
    (07:16) Income and “Overtime”
    (08:41) Taking SERIOUS Risk (BIG Reward!)
    (16:21) 10Xing His Money
    (19:46) Rock Bottom Expenses
    (27:34) Building a Business
    (36:45) Quit His Job?
    (43:16) Make the RIGHT Bets

    Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-583

    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

  • Would you move abroad to reach FI faster? That wasn’t Brooklin Nash’s original goal when he left the US and began freelancing from afar. But now, years later, he realizes how much of a leg up he has financially by going all-in on “geo arbitrage.” He’s saving a boatload in Guatemala, paying less to live the life he loves, and enjoying a tiny tax bill. Now in his mid-thirties, he’s already Coast FIRE and works when and where he wants.
    But Brooklin’s money story didn’t start so stable. Being raised in a home with “risky” finances, to say the least (pyramid schemes, gambling, etc.), left him scarred and constantly worrying about keeping enough money in the bank. Thankfully, he changed his ways and realized that making money, rather than just saving every cent, was crucial to becoming financially free.
    He’s paid off a significant sum in student loans and did it all while making a very meager income. Then, he scaled from freelancing abroad to building an entire business, making a phenomenal income while living in a low-cost-of-living area. He’s living his dream life outside the US, making more money than Americans at home. Imagine what THAT can do for your FIRE number! 

    In This Episode We Cover
    Using “geo arbitrage” to save more, invest more, and lower your cost of living 
    An almost unbelievable income tax exclusion Americans abroad can access 
    How Brooklin paid off $80,000 in student debt (even on a lower income)
    Turning your freelancing work into a full-blown (and VERY high-paying) business 
    Why the optimal FIRE lifestyle may actually include working a few hours a day 
    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
    Beam Content
    Try Baselane, the One Platform for All Your Property Banking & Finances
    Reach FI Faster with “Set for Life”
    Find an Investor-Friendly Agent in Your Area
    The Best (and Worst) States in the US to Retire in 2024 (FIRE Faster?)
    Connect with Brooklin

    (00:00) Intro
    (01:00) Pyramid Schemes, MLMs, and Risky Bets
    (04:35) Paying Off $80K Debt
    (10:30) Finding FIRE and First $100K
    (14:19) Freelancing to Boost Income
    (16:40) Building His Business
    (20:11) FIRE Progress
    (26:40) Why Live in Guatemala?
    (30:54) Investing from Abroad
    (32:43) Geographic Arbitrage 101
    (38:19) Connect with Brooklin!

    Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-582

    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 a few years of aggressive saving put you in the fast lane for financial independence? Is the grind even worth it? Today’s guest was well on his way to a comfy retirement but had never thought about retiring early. Then he discovered the FIRE movement, and with just four years of all-out hustle, he was able to retire at fifty!
    Welcome back to the BiggerPockets Money podcast! In 2020, Eric Reinholdt experienced a financial “awakening” that set him on a death march to FI and early retirement. For four years, he minimized his spending, maximized his savings, and threw every extra dollar at his investments. Today, he’s “chubby FI,” has a paid-off house, and is recently “retired”— working just ten hours per week on his own business while preparing to travel the world in 2025!
    But was the glamorous destination worth the grueling journey? Should Eric have started earlier or slowed down to reach his FI number? Tune in to hear about the major lifestyle changes he and his wife made to accelerate retirement, the different levers he pulled to grow his nest egg, and the steps you might need to take if you want to replicate his success!

    In This Episode We Cover
    How this entrepreneur reached “chubby FI” by the age of fifty
    When to slow down and enjoy the journey to financial independence
    Flexing your “spending muscle” while saving for an early retirement
    Why building your own business gives you a huge “buffer” for FIRE
    Why you need monthly financial check-ins with your significant other
    What Eric plans to do in retirement (and why he’s NOT giving up work entirely!)
    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
    Support Today’s Show Sponsor, Connect Invest, the Alternative Way to Earn Passive Income Through Real Estate
    Buy Scott’s Book, “Set for Life”
    Find Investor-Friendly Lenders
    FIRE by 50: How to Have FUN on Your Journey Toward Early Retirement

    (00:00) Intro
    (01:25) Discovering FIRE
    (05:01) Major Lifestyle Changes
    (14:15) High Income + Low Expenses
    (22:53) “Retired” at Age 50
    (27:08) Eric’s Investment Portfolio
    (33:35) Life in Retirement
    (37:14) Connect with Eric!
    (38:06) A “Cheat Code” for Wealth!

    Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-581

    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

  • Is paying off debt or investing (and potentially using more debt) the best way to reach FIRE? The average American has $104,215 in mortgages, student loans, credit cards, and other debt. Where do YOU stand? If the end goal is FIRE, you need a game plan for your debt, in which case this episode is for you!
    Welcome back to the BiggerPockets Money podcast! Not all debt is bad. When used responsibly, it can be a powerful tool that allows you to buy appreciating assets and hedge against inflation. Today, guest co-hosts Kyle Mast and Amanda Wolfe join our panel to share their thoughts on debt. We’ll share how much debt we each have (ranging from zero to millions), how our philosophies on debt have evolved, and how debt can ultimately help you reach FIRE.
    But that’s not all. We’ll also discuss the types of bad debt that could derail your FIRE journey and the investments you don’t want to be stuck with during an economic downturn. We’ll even get into the most important financial protection against debt risk—savings and reserves—and why these funds should grow proportionally to your debt!

    In This Episode We Cover
    Paying off debt versus investing (and which strategy is best for FIRE)
    Why well-leveraged debt is one of the best long-term hedges against inflation
    The types of debt that could propel you toward an early retirement
    “Bad” real estate investments you don’t want to be holding during a market downturn
    The most irresponsible uses of debt (that you should avoid at all costs!)
    Why you should always grow your savings and reserves in tandem with debt
    How much debt WE have (and how our opinions on debt have changed)
    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
    Buy Scott’s Book “Set for Life”
    Find Investor-Friendly Lenders
    Pay Off Student Loans or Invest in Real Estate: Which Makes You Wealthier?
    Connect with Kyle
    Amanda’s Website
     
    (00:00) Intro
    (01:23) How Much Debt WE Have
    (06:15) Paying Off Debt vs. Investing
    (13:46) Starting Your FIRE Journey
    (21:51) Debt Strategy 101
    (31:38) “Unreasonable” Debt
    (38:23) Bad Real Estate Investments
    (46:48) Key Takeaways
    (50:18) Connect with Kyle and Amanda!


    Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-580

    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

  • Yes, it’s possible to retire early, even if you’re just now diving into the FIRE movement. Early retirement could be within reach whether you’re in your twenties, thirties, forties, or fifties. Imagine having complete freedom in a decade or less: no office politics, no boss, and, best of all, no spreadsheets! That’s the life Arik Peterson built when he retired early at forty-four, leaving behind a demanding career in corporate investing.
    After reading Mr. Money Mustache’s unmatched FIRE blog, Arik drastically changed his saving and investing habits, increasing his savings rate to seventy percent and redirecting his money into simple, steady investments many overlook. Today, his life looks vastly different—he spends his days fishing, biking, creating art, and working on DIY projects instead of staring at a computer screen, crunching numbers.
    In this episode, Arik shares his complete strategy for reaching financial independence, why he’s skeptical of the 4% rule, his current investment choices, and how an unexpected layoff turned into his golden opportunity. Ready to ditch corporate America? Follow Arik’s plan!

    In This Episode We Cover
    Why you must increase your savings rate if you want to reach FIRE fast 
    The simple, low-cost investment Arik has in his early retirement portfolio 
    Why you don’t need to follow the 4% rule to finally quit your job and retire
    Making money in retirement and living off of side income streams
    Arik’s killer advice for Roth investing that could make you tax-free millions 
    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
    Live Long Live Often
    Support Today’s Show Sponsor, Connect Invest, the Alternative Way to Earn Passive Income Through Real Estate
    Get to FIRE Faster “Set for Life”
    Find an Investor-Friendly Agent in Your Area
    What to Do Before You Quit the High-Pay & Benefits of Corporate World

    (00:00) Intro
    (00:58) Discovering FIRE
    (02:11) A VERY Stressful Job
    (04:58) Secret to Get to FIRE Faster
    (08:35) “Obsessing” Over Money
    (10:16) What He Invests In
    (12:44) Ignore the 4% Rule?
    (14:22) FIRE at 44!
    (17:07) Connect with Arik!

    Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-579

    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

  • Should you move to reach FIRE? And if so, where to? In this episode, we’re pulling back the curtain and revealing the best places to retire in the US in 2024. Living in one of these states could help fast-track financial freedom, and moving there for retirement could help your nest egg go further and improve your quality of life!
    Welcome back to the BiggerPockets Money podcast! Alex Gailey, a lead data reporter at Bankrate, has ranked all fifty states for retirement based on five weighted “buckets” made up of dozens of crucial data points. Today, she joins the show to share her findings with us. Whether you’re looking to put down roots in a low-cost-of-living area or find a location that delivers your ideal retirement lifestyle, this list of states is a useful launching point for one of the most important life decisions you’ll ever make!
    In this episode, you’ll learn how changing your address could accelerate your financial independence timeline and allow you to retire early. Alex will break down the five factors people value most in retirement—affordability, well-being, cost and quality of healthcare, weather, and crime. Stay tuned to find out which states came out on top and which states you might want to avoid. The results even surprised us!

    In This Episode We Cover
    Breaking down Alex’s list of best (and worst) states to retire in the US
    How to accelerate your FI timeline simply by changing your address
    The top five “buckets” that make up an ideal retirement destination
    The most crucial factors to consider when choosing where to retire
    How to take advantage of unique opportunities in high-cost-of-living areas
    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
    Support Today’s Show Sponsor, Connect Invest, the Alternative Way to Earn Passive Income Through Real Estate
    Best and Worst States for Retirement
    Alex’s Twitter/X
    Buy Scott’s Book “Set for Life”
    Find an Investor-Friendly Agent in Your Area
    How to Get PAID to Live in an Affordable City & Fast-Track Financial Freedom

    (00:00) Intro
    (01:26) Alex’s Criteria
    (05:05) Best and Worst Places to Retire
    (11:38) Biggest Surprises
    (22:32) Retiring in an Expensive Area
    (29:10) Connect with Alex!
    (29:43) Accelerate Your FI Timeline!

    Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-578

    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 saving TOO much for retirement (or early retirement)? Could you retire years sooner than you think? Will retirement expenses be even less than what you spend now, allowing you to reach FIRE faster with a smaller nest egg? Today, we’re getting into that exact question as Finance Friday guest Ethan asks how he can ensure he’s on the right track for early retirement by age fifty-five. And if you’re like Ethan, you could retire RIGHT NOW…but should you?
    Ethan is spending a LOT of money every month. He’s got two kids in private school, extracurricular sports fees, pricey car payments, and a mortgage. The good news? He’s raking in cash at his high-paying tech job! His current expenses cost him nearly $20,000 per month, but this number could be cut in half (if not more) once his kids leave the house. This means that his FIRE number might be a fraction of what he thinks it has to be to retire early.
    Speaking of early retirement, is it wise to leave such a high-paying career to sit on the beach all day? Ethan has the skills and the energy to make a sizable income, so what should he do instead of full-time work once he reaches early retirement? Should he transition to part-time consulting, focus more on rental property investing, or buy a business?

    In This Episode We Cover
    Why your FIRE number may be WAY off from what you need to retire early 
    The retirement expenses that disappear once your kids are out of the house 
    Making money in retirement and whether buying a hands-off business is your best bet
    Planning for future weddings and how much you should set aside for your kid’s big day 
    Limiting your taxes by qualifying for real estate professional status (REPS)
    Whether or not you’re keeping too much cash on hand (is the bank account interest worth it?)
    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
    Support Today’s Show Sponsor, Connect Invest, the Alternative Way to Earn Passive Income Through Real Estate
    Get on the Path to Early Retirement with “Set for Life”
    Property Manager Finder
    Dude ACTUALLY Withdraws From His 401(k) and Retires at 47 w/Eric Cooper

    (00:00) Intro
    (04:27) Money Snapsho
    (12:44) Current Net Worth
    (15:11) Work Less, Travel More?
    (21:10) Early Retirement Expenses
    (27:02) Buy Rentals for Retirement Income
    (33:59) Paying Too Much in Taxes
    (38:22) Downsizing Houses and Next Steps
    (44:40) Saving for Future Weddings
    (48:52) How Much Do You NEED to Retire?

    Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-577

    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 can attack financial independence from one of two angles. You can create a strict timeline for achieving FIRE, or you can calculate your FIRE number and take your time with it. Which approach works best, and should you ever move the goalposts? Stay tuned to find out!
    Welcome back to the BiggerPockets Money podcast! Today, Scott and Mindy are reflecting on their journeys to financial freedom—how they started, set realistic objectives, and allowed those objectives to evolve. They’ll also share about the major “events” that propelled them toward their goals, the big lifestyle changes they have made since reaching financial independence, and the ONE thing they wish they had done differently!
    Whether you’re starting from zero or already on your way to FIRE, there are some personal finance fundamentals you’ve got to master: lowering your expenses and increasing your income. This combination will allow you to save more money, multiply your investments, and accelerate your FI timeline. But that’s not all. You’ll also hear about the job “trap” that keeps so many people from reaching FIRE, and why time (NOT money) is the resource we’re all actually chasing!

     In This Episode We Cover
    The crucial figure you need to pin down before setting your FI timeline
    Why time, not money, is the resource every FIRE-focused person really wants
    When to move the goalposts on your quest for financial independence
    The job “trap” that holds you back from FI (and how to get out of it!)
    The two-pronged strategy that will accelerate your path to early retirement
    Spending less and earning more (so that you have more money to invest)
    Scott and Mindy’s number one “regret” from their aggressive pursuit of FI
    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
    Buy Scott’s Book “Set for Life”
    Find an Investor-Friendly Agent in Your Area
    BiggerPockets Money – Episode 563: Why Aren’t More “Normal” People Achieving FIRE?

    (00:00) Intro
    (00:49) The FI Timeline
    (06:59) Lifestyle Changes After FI
    (10:25) Getting Your Spending in Check
    (17:14) Low Expenses + High Income
    (24:40) Escaping the Job “Trap”
    (31:04) Creating Milestones
    (37:50) Share Your Journey with Us!

    Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-576

    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

  • Everyone wants to become “work-optional” at some point. Having enough money in investments and the bank would allow you to choose the job you love most, whether that’s running your own business, working part-time, or today’s guest, Travis’ dream, becoming a mountain biking guide. With a solid salary, dual income, and no plans for kids, he and his wife are on the fast track to FIRE, but can they get there by his goal of forty years old? 
    Travis’ wife may have an option to get a significant salary bump, allowing them to travel the country while she works, and Travis stays making money from his computer. But, even this may not be enough to get them to the “work optional by forty” goal they had set out for themselves. Scott and Mindy believe they need a financial “oomph” to get them over the edge, but what’s the next best move?
    Should he stop his retirement account contributions to have more cash to invest for early retirement? Should he perform a live-in flip to make more money on the side while working his job? Would a side hustle or part-time job bridge the investing gap between where they are and where they need to be? If you’re stuck feeling like you can’t get to FI fast enough, this episode is for YOU!

    In This Episode We Cover
    How to fast-track your FIRE and become work optional in under ten years
    House hacking and why it’s one of the best ways to lower expenses and build wealth 
    Live in flipping and how to turn your next home purchase into a money-making investment 
    Whether you should stop investing or double down on your retirement accounts when shooting for early retirement 
    Roth conversion ladders, HSAs (health savings accounts), and how to access retirement funds even earlier 
    Increasing your income by job hopping and leveling up the skills that’ll make you more 
    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
    cFIREsim 
    How to Access Retirement Funds Early
    Support Today’s Show Sponsor, Connect Invest, the Alternative Way to Earn Passive Income Through Real Estate
    Grab the Book “First-Time Home Buyer”
    Property Manager Finder
    Finance Friday: How to Get to Early Retirement Even Faster


    (00:00) Intro
    (01:07) Goal: FI by 40!
    (03:13) Money Snapshot
    (04:14) Work Optionality!
    (05:50) Stay at His Job?
    (15:00) Traveling to Make More Money
    (20:38) Stop Investing in 401(k)?
    (31:13) Live in Flipping
    (42:39) Can Travis Hit FI by 40?

    Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-575

    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

  • The combination of saving money and buying rentals is a recipe for reaching financial independence much faster than you thought possible. Just ask today’s guest, who started with tens of thousands of dollars in debt but was able to achieve FI in just a few years!
    Henry Washington is a real estate investor, author of Real Estate Deal Maker, and co-host of the On the Market podcast, but he doesn’t have your typical “rags-to-riches” money story. Despite an upper-middle-class upbringing and landing a six-figure job right out of college, Henry was a serial spender. Before he knew it, he had racked up $40,000 in credit card debt and was told by banks that he was unlendable. Horrified by what his family’s future would look like on its current trajectory, Henry was determined to get his finances in check. He caught the real estate bug, attended meetups and networking events, befriended other investors, and found his first deal!
    Henry went on to build and scale a real estate portfolio of over 140 units, and in this episode, he provides actionable advice that will help you break into real estate—whether you aspire to own a single rental property or twenty. Along the way, you’ll learn about “gamifying” your way to financial freedom, funding a down payment without money in the bank, and the recession-proof investing strategy Henry still uses today!

    In This Episode We Cover
    How Henry scaled his real estate portfolio to over 140 units in just seven years
    How “gamifying” your finances can turn you from a spender into a saver
    Why finding good deals is the key to a recession-proof investing strategy
    Getting a crash course in real estate investing through local meetups and networking
    Creative ways to come up with the down payment for an investment property
    The three phases of rental property investing that lead to generational wealth
    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
    On the Market Podcast
    Rich Dad Poor Dad by Robert Kiyosaki
    Buy Henry’s Book “Real Estate Deal Maker”
    Find Investor-Friendly Lenders
    30 Ways to Find Good Real Estate Deals in 2024
    Connect with Henry
    Henry’s Instagram
     
    (00:00) Intro
    (01:10) Racking Up $40K Debt
    (06:06) Catching the Real Estate Bug
    (11:24) “Gamifying” Finances & Networking
    (16:37) Henry’s First Deal
    (24:18) Making Your Own Luck
    (30:17) Henry’s Current Portfolio
    (36:26) Saving His Rental Income
    (43:22) How to Get Started in 2024
    (46:39) Connect with Henry!

    Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-574

    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

  • Just a short while back, Marisa Mae was caught in the paycheck-to-paycheck trap, her credit cards stretched to their limits with no emergency savings to speak of, all while wrestling with constant financial stress. Today, she’s on a clear path to retire as a millionaire. Her secret? Mastering the art of debt repayment without succumbing to severe frugality. Marisa managed to eliminate five-figure consumer debt, not by cutting out her cherished coffee runs, but by smart financial planning. Isn’t that supposed to be a big FIRE faux pas?
    Marisa’s turning point came at rock bottom—stranded without a place to stay or a dollar to her name. But instead of going back to restrictive budgeting and punishing herself for her overspending, she built a financial plan that worked specifically for her. 
    Now, Marisa is ready to show others that achieving financial freedom, eradicating debt, and even starting to invest can all happen WITHOUT cutting everything enjoyable out of your life. If you’re battling to escape bad debt, Marisa’s approach could liberate you faster than you think—even if you struggle to find financial balance. 

    In This Episode We Cover
    How Marisa went from a financial “mess” to being on track to become a millionaire in retirement 
    The spending hack that allows you to treat yourself WITHOUT going over budget 
    Why you CAN invest while paying off debt (and the right way to do it)
    Why taking on good debt to grow your business/side hustle isn’t a bad thing 
    The “slow” path to becoming debt-free that is MUCH more successful than the beans and rice diet 

    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
    Financial Badassery
    Support Today’s Show Sponsor, Connect Invest, the Alternative Way to Earn Passive Income Through Real Estate
    Get Your Personal Finances in Check with “Set for Life”
    Find an Investor-Friendly Agent in Your Area
    How to Pay Off Credit Card Debt FAST ($30K+ in 1 Year!)


    (00:00) Intro
    (01:05) Paycheck-to-Paycheck and Worth $0
    (04:29) Enough is Enough
    (07:20) Paying Off Debt While Still Spending
    (10:21) Investing While in Debt!?
    (14:41) Finally Debt-Free?
    (16:58) Managing Her Money
    (21:38) Best Tip for FIRE
    (24:08) Connect with Marisa!


    Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-573

    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

  • Should you sell your house or keep it as a rental property in 2024? What you do with your home today could create a million-dollar swing in your portfolio ten, twenty, or thirty years from now. Fortunately, we’ve developed a powerful new tool to help you make the best decision for your financial future!
    Welcome back to the BiggerPockets Money podcast! If you refinanced your mortgage around 2021, chances are you’re sitting on a low interest rate the likes of which we’re unlikely to see again. The recent rise in rates and home prices has created a “lock-in effect,” where millions of homeowners are disincentivized to sell. But does it make sense to sell if you can roll your home equity into another wealth-building asset? Could you convert your house into a rental and create hundreds of dollars in monthly cash flow?
    Today, we’re giving you a step-by-step walkthrough of our new “Keep or Sell Your Home” worksheet. We’ll compare four outcomes—selling your home to buy another property, selling your property and investing in stocks, keeping the property and hiring a property manager, and keeping the property and becoming a landlord. Along the way, we’ll use several examples of homeowners so that you can get an idea of where you might stand!

    In This Episode We Cover
    A step-by-step walkthrough of Scott’s new “Keep or Sell Your Home” worksheet
    Two realistic examples of when to sell your home or keep it as a rental property
    The numbers you need to make a rock-solid decision on your investment property
    The crucial question you should ask before keeping or selling your home
    How ONE decision can impact your future by hundreds of thousands of dollars (or more!)
    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
    Put Your Vacation Rental on Autopilot with Hospitable
    Buy the Book “Real Estate by the Numbers”
    Find an Investor-Friendly Agent in Your Area
    Download the “Keep or Sell Your Home” Worksheet
    Millions of Americans Should Keep Their Homes as Rentals, Not Sell. Here’s Why

    (00:00) Intro
    (05:11) Using the Worksheet
    (12:15) How Much Would You Make?
    (14:36) Breaking Down Your Options
    (20:08) Keep or Sell This Property?
    (29:11) The “BiggerPockets” Homeowner
    (34:54) Try the Worksheet!

    Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-572

    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