BiggerPockets Money Podcast

Nik Johnson achieved financial independence but faced a massive setback when a failed car dealership wiped out his savings. Undeterred, he shares his journey of resilience, emphasizing how he rebuilt his wealth through multiple income streams and smart investments. Nik discusses avoiding the middle-class trap, the importance of community support, and life after achieving financial independence. His inspiring story proves that setbacks don't mean the end of dreams—just the beginning of a new path!

Whitney Elkins-Hutten, author of 'Money for Tomorrow,' shares her journey from novice house flipper to seasoned investor. She reveals the four financial 'horsemen' that threaten your wealth during FIRE. Whitney discusses the hidden fees lurking in retirement accounts and how to prioritize debt payment effectively. She also emphasizes smart strategies for managing insurance costs and optimizing investment returns through tax planning. Tune in for tips on ensuring your financial independence remains intact!

Austin Crofoot, a 25-year-old software sales professional with a six-figure income and net worth, aims for financial independence by age 50. He discusses whether his ambitious $5 million FI number is realistic. The conversation dives into strategies for balancing retirement accounts with other investments, especially in real estate. Austin learns about leveraging assumable mortgages in Austin's rebound housing market and how to take calculated risks for wealth accumulation. Insights on cash flow management and investment flexibility are also shared!

In this engaging discussion, Tae Kim, a former finance director turned successful YouTube creator, shares his inspiring journey to financial independence. He reveals why he left behind a corporate climb just before reaching his goal of becoming a CFO. Tae details his shift towards entrepreneurship, building a financial runway, and the importance of reinvention at any stage in life. Listen in as he shares practical steps to find freedom and flexibility while traveling the world and enjoying the journey to FIRE.

Discover the secrets of the top 1% and their surprising investment strategies! The wealthy primarily invest in accessible assets, not just high-end real estate. Learn how their financial habits can help you level up your own portfolio. The show discusses the myths surrounding home equity and emphasizes the power of corporate equities. With insights on navigating retirement plans and recognizing the role of entrepreneurship, this episode is packed with valuable tips to boost your wealth.

Join Leah Landis, a tech sales account executive, and her husband Zach as they share their ambitious plan to retire by 45. They expertly navigate the challenges of the middle-class trap and offer insights on balancing spending and investing. Discover their strategies for mindful financial habits and how family planning could impact their journey. They also dive into housing market dynamics and explore alternative investment options like house hacking and REITs, all while aiming for financial independence and smarter retirement planning.

Join John Bowens, Director at Equity Trust Company and self-directed IRA expert, as he unveils the little-known self-directed IRA (SDIRA) strategy that could revolutionize your retirement planning. Discover how this unique account allows you to invest in real estate tax-free, generate passive income, and even flip houses without the usual constraints. John tackles objections to SDIRAs, shares invaluable insights on the 'material participation' rule, and explains the potential for wealth-building that most Americans overlook. Your retirement could be richer than you think!

Virginia Trench, a published author and Scott Trench's wife, joins the conversation to reveal their secrets to financial success. They discuss Scott's extreme frugality and their unique financial planning dates that keep them aligned on goals. Virginia shares insights on the value of prenuptial agreements and how they foster a lasting partnership. With their recent portfolio changes and personal anecdotes about cooking mishaps, this entertaining chat highlights their approach to achieving financial independence together.

Amy Minkley, a former international teacher, achieved financial independence and retired at 45, leveraging her unique experiences abroad. She discusses the perks of teaching internationally, like free housing and subsidized travel, which allowed for aggressive saving. Amy shares her journey of overcoming burnout and financial trauma to embrace a life of freedom in Bali. Listeners learn about investing strategies while living overseas, the importance of community support, and how strategic living can lead to fulfilling personal and financial goals.

A guest aspires to retire by 35, but her budget is stretched thin by supporting family members and a troublesome rental property. The hosts dive into the complexities of balancing financial responsibilities with personal goals. They discuss strategies for selling her negative cash flow property and the best timing for a sale. Topics also include budgeting for future family plans and the emotional challenges of honest financial conversations. It’s a blend of actionable advice and insight into managing finances while supporting loved ones.