BiggerPockets Money Podcast

Victor Haghani, founder of Elm Wealth and former Wall Street trader, shares his fascinating journey from high-stakes finance to advocating for low-cost index fund investing. He discusses why his extensive trading experience led him to prefer simplicity in managing wealth. Victor highlights key strategies for achieving financial independence, reveals psychological traps detrimental to saving, and underscores the importance of adapting asset allocation as one ages. His insights offer a fresh take on personal finance for anyone seeking stability and growth.

Explore five innovative wealth-building methods that don’t involve real estate! Discover how passive strategies can kickstart your financial journey, while active approaches offer the potential for significant earnings. Dive into the importance of trimming monthly expenses, optimizing savings, and the power of job hopping for better pay. Plus, uncover exciting investment opportunities in ‘boring’ businesses and learn how small business ownership can lead to financial independence. It's time to rethink your path to wealth!

Brad Barrett, co-host of the ChooseFI podcast and advocate for financial independence, dives into the controversial 'middle-class trap' debate. He challenges traditional wealth-building methods like home equity and retirement accounts, arguing they may hinder early retirement. The conversation explores the crucial distinction between net worth and financial independence, addressing psychological barriers to freedom. Listeners gain insights on personalized investment strategies and the emotional hurdles of transitioning from saving to spending, offering a fresh perspective on achieving genuine financial security.

Dave Fleischer, a teacher and host of the Financially Independent Teachers podcast, shares his inspiring journey to financial independence by age 39. He emphasizes that achieving wealth isn’t solely about income levels, but how strategically you manage your finances. Discover how living below your means and downsizing your lifestyle can serve as a 'cheat code' for building wealth. Dave also highlights the importance of financial education and making informed choices that align with your goals, proving that financial freedom is attainable for everyone.

John Bowens, Director of Education at Equity Trust, shares his expertise on the 72(t) strategy for early retirement fund access. He breaks down the intricacies of Substantially Equal Periodic Payments (SEPP) and how to avoid hefty penalties for early withdrawals. Listeners learn critical compliance rules and the importance of investment strategy for utilizing retirement accounts effectively. John also discusses various distribution methods, including amortization and annuitization, and highlights the risks and planning needed for a successful retirement strategy.

Katie Gatti Tassin, founder of Money with Katie and author of 'Rich Girl Nation', shares her journey of breaking free from the middle-class financial trap. She discusses her early financial awakening that helped her double her income and build a profitable business. The conversation emphasizes the importance of real-time spending tracking and challenges the so-called financial 'truths' that can hinder wealth. Katie offers actionable mindset shifts and strategies for financial independence, promoting empowerment and improved financial literacy for women.

Bill Bengen, a financial advisor and the mastermind behind the 4% rule, joins the discussion with fresh insights for retirement planning. He reveals why his updated recommendation is now a 4.7% withdrawal rate, signaling greater financial flexibility for retirees. Bengen dives into the psychological barriers retirees face when spending, the role of real estate in a diversified portfolio, and strategies for both active and passive management. He emphasizes the importance of controlling expenses and finding purpose beyond money, reshaping traditional retirement strategies.

In this engaging discussion, real estate attorney Bonnie Galam, who specializes in asset protection and estate planning, dives into the crucial topic of safeguarding investments. She reveals the two sides of asset protection, emphasizing proactive measures over reactive ones. Bonnie addresses whether LLCs are necessary for rentals and explains the importance of tailored insurance coverage. Listeners will gain insights on estate planning, the risks of equity partnerships, and how personal events can jeopardize properties, all while learning actionable steps for securing their portfolios.

Meet two ambitious twins who achieved impressive six-figure net worths in their 20s, all while pursuing financial independence and early retirement. They share their 'set it and forget it' approach to investing, combining stocks and rental properties for a diversified income. Flexibility is key as they discuss adapting FIRE goals to life's changes and navigating market fluctuations with ease. Plus, they reveal how family values shaped their journey into real estate, and they offer insights for beginners eager to learn about building wealth.

Ryan Brennan, founder of the FI Service Corps, shares his inspiring journey to achieve Coast FI by 36 and leave his corporate job for service work. He discusses the savvy money moves that propelled him to a seven-figure net worth and the emotional rewards of pursuing a purpose beyond wealth. Ryan highlights the essence of financial independence—using resources to give back to the community, including building homes for low-income families. His vision promotes a fulfilling life focused on altruism, community impact, and personal freedom.