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The last time Ramit Sethi was on the show, tears were shed, money fears were exposed, and Mindy was forced to take a hard look at her financial habits. Now, Ramit is back, as we revisit some of the critical moments of Mindy and her husband Carl’s interview on Ramit’s show, I Will Teach You To Be Rich. In this episode, Mindy challenges the FIRE frugality she’s been stuck on for so long and discovers why more money isn’t always a good thing. If you’ve ever had a money struggle, whether too much or too little in the bank, Ramit is who you should listen to. His advice goes far beyond the regular “save more than you spend, invest the rest” type of advice you constantly hear from frugal podcasters. Instead, Ramit wants you to maximize your happiness and make the most out of life while not struggling to survive. In short, Ramit wants you to live a rich life, not a frugal one. If you struggle to spend, pinch pennies, or are dead set on reaching FIRE as fast as possible, this episode is for you.Carl, Mindy, and Scott will go over the common misconceptions about money, debunk the “wasteful” spending myth, explain why you should die with zero, and critique the flaws of the FIRE community. In This Episode We Cover Why the FIRE movement is wrong and getting rich should NOT be the goal What to do when you have lots of money but no time to spend it How to “Die With Zero” and enjoy your wealth while you’re still here The “what if I run out” fear and how to get over the dread of overspending Testing your spending and why you NEED to book that trip you’ve been thinking of Building a rich life and how to make the most of it with the money you have And So Much More! Links from the Show BiggerPockets Money Facebook Group BiggerPockets Forums Finance Review Guest Onboarding Join BiggerPockets for FREE Mindy on BiggerPockets Scott's Instagram Grab Scott’s Book, “Set for Life” Listen to All Your Favorite BiggerPockets Podcasts in One Place Apply to Be a Guest on The Money Show Podcast Talent Search! Listen to The Real Estate InvestHER Show Join The Real Estate InvestHER Community on Facebook Register for an Upcoming InvestHER Event Money Moment Mile High FI Podcast 1,500 Days to Freedom Carl's Email Ramit Sethi’s Money Advice for Couples: Live a Rich Life, Together Mr. Money Mustache on Life After FI: The Truth About Retiring Early in Your 30s Hear Mindy and Carl on “I Will Teach You To Be Rich” My Death March to Financial Independence Click here to check the full show notes: https://www.biggerpockets.com/blog/money-433 Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Email us: moneymoment@biggerpockets.com

Terrified of running out of money in retirement? Countless people share the same fear. With so much recent discourse surrounding inflation and a looming recession, you may have a tighter grip on your money than usual. Today’s guest is here to help cool some of your concerns. In this episode of the BiggerPockets Money podcast, we’re joined by David Stein from Money for the Rest of Us, who believes there are reasons to be optimistic about the economy and even more reasons to stay on the straight and narrow when it comes to investing. If you’re easily overwhelmed by the thought of investing or choosing the right asset classes, David’s message is clear: investing doesn’t need to be difficult. There are plenty of tools the average person can use to invest, grow their nest egg, and have enough money for retirement. Don’t let fear stop you from putting your money to work! Whether you’re a novice or long-time investor, you’re in for a treat with today’s episode. Tune in as David addresses several issues—including the current state of the economy, whether we should brace for a recession, and the markets he’s investing in. He also talks about the benefit of steering clear of individual stocks in lieu of ETFs and index funds, as well as when it might be smart to buy an immediate annuity! In This Episode We Cover The four-percent rule and how to avoid running out of money in retirement How current returns on real estate compare to those of other asset classes The benefit of buying exchange-traded funds (ETFs) and index funds in lieu of individual stocks Diversifying your investment portfolio to include non-U.S. markets Three important principles to focus on when deciding where to invest Buying annuities to lock in an additional income stream during retirement And So Much More! Links from the Show BiggerPockets Money Facebook Group BiggerPockets Forums Finance Review Guest Onboarding Join BiggerPockets for FREE Mindy on BiggerPockets Scott's Instagram Grab Scott’s Book, “Set for Life” Listen to All Your Favorite BiggerPockets Podcasts in One Place Apply to Be a Guest on The Money Show Podcast Talent Search! Listen to The Real Estate InvestHER Show Join The Real Estate InvestHER Community on Facebook Register for an Upcoming InvestHER Event Money Moment Choosing the Right Investment Type for Your Goals with David Stein Check Out the Latest Five-Year TIPS at TreasuryDirect Click here to check the full show notes: https://www.biggerpockets.com/blog/money-432 Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Email us: moneymoment@biggerpockets.com

The gender investing gap is real, but it’s not due to women lacking capital. More often than not, women are saving their money rather than investing in real estate and allowing it to grow. As successful women in real estate, today’s guests are here to break down the reasons for this investing gap and how we can work together to close it. In this episode of the BiggerPockets Money podcast, we’re joined by none other than Liz Faircloth and Andresa Guidelli, co-hosts of our sister show, The Real Estate InvestHER Show. Like many novice investors, Liz and Andresa both discovered their love for real estate shortly after reading Robert Kiyosaki’s Rich Dad Poor Dad. Years later, both have amassed their own large portfolios and are committed to helping more women dive into the world of real estate investing. Regardless of gender, there’s something for everyone to take away from this episode. Liz and Andresa share about the unique challenges women investors face today, building your real estate network, and how to find your investing partner. They also deliver some actionable next steps for women who are hesitant to invest, as well as some tips for men who want to be allies for women investors! In This Episode We Cover The global economic impact of women investing their capital The unique advantages and disadvantages women face when investing How to be an ally for women investors in your sphere of influence Actionable next steps for women looking to invest in real estate The importance of community when getting into real estate How to find the perfect partner for your real estate investments And So Much More! Links from the Show BiggerPockets Money Facebook Group BiggerPockets Forums Finance Review Guest Onboarding Join BiggerPockets for FREE Mindy on BiggerPockets Scott's Instagram Grab Scott’s Book, “Set for Life” Listen to All Your Favorite BiggerPockets Podcasts in One Place Apply to Be a Guest on The Money Show Podcast Talent Search! Listen to The Real Estate InvestHER Show Join The Real Estate InvestHER Community on Facebook Register for an Upcoming InvestHER Event Money Moment Download the FREE Partnership Question Guide Click here to check the full show notes: https://www.biggerpockets.com/blog/money-431 Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Email us: moneymoment@biggerpockets.com

Want to cut your electric bill in HALF? A few secret yet simple hacks can save you hundreds, if not THOUSANDS, on your utility bills. And with energy prices almost double where they were just a few years back, everyone is antsy about turning on their air conditioners, even if you feel like you’re about to melt. Thankfully, we’ve got Larry and Hope Ware, also known as “Under the Median,” to show us EXACTLY how they lowered their electric bill by making some simple money moves. Larry and Hope have been long-time frugalists. A few years into dating, they realized they were flat broke and had to make a tough choice: put their future family first or keep spending without second thoughts. They chose the frugal path to financial independence and, as a result, raised four children on a $40,000/year salary, becoming completely debt-freein the process. Larry and Hope know how to run a budget, and saving money is their sport of choice. In this episode, Larry and Hope will unpack one of their most astonishing financial accomplishments of late; cutting their electricity bill in half. Through some utility-bill digging and kilowatt-testing, Larry and Hope have built a list of tips that could help you lower your utility bills to levels you may have never seen before. Want in on this money-saving cheat code? Tune in! In This Episode We Cover How to cut your electricity bill in half, EVEN if you live in a sweltering climate Building your “Bare Bones Budget” and prioritizing where money is best spent The “big green pile of cash” trap that you CAN’T fall into The BIGGEST mistake most people make when budgeting “Vampire energy” and how unused appliances could be stealing your cash And So Much More! Links from the Show BiggerPockets Money Facebook Group BiggerPockets Forums Finance Review Guest Onboarding Join BiggerPockets for FREE Mindy on BiggerPockets Kyle’s Website Clarity Financial Kyle’s Twitter Grab Scott’s Book, “Set for Life” Listen to All Your Favorite BiggerPockets Podcasts in One Place Apply to Be a Guest on The Money Show Podcast Talent Search! Money Moment Check Out Mindy’s 2022 Live Spending Tracker and Budget The Stupid-Simple Budgeting Trick I’m Using to Stop Blowing 5 Figures a Month The Cheapest Way to Lower Your AC Bill This Summer We Cut Our Electric Bill in Half in About 6 Weeks Click here to check the full show notes: https://www.biggerpockets.com/blog/money-430 Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Email us: moneymoment@biggerpockets.com

First-time home buyer? After this episode, you’ll see the house-hunting process in an entirely new light. Throw out the granite countertops and exposed beams you’ve always dreamed of because making an emotion-first home-buying decision could ruin your financial future. If you’re trying to build wealth, you’ll want to follow Scott Trench’s home-buying checklist, which may show that renting is the best money move you can make. The roles are reversed on today’s show because this ISN’T the BiggerPockets Money podcast; It’s Money Rehab with Nicole Lapin! Scott recently joined Nicole to talk transparently about the realities of buying your first home. In this show, Scott and Nicole go through why homeownership is falling across the US, whether or not buying in 2023 even makes sense, and why your house ISN’T what you think it is. Plus, if you’ve been debating buying a rental property, Scott has some words of wisdom you MUST take to heart before putting in offers. You’ll also hear why SO many landlords are wrong about LLCs (DO NOT miss this section) and the EXACT steps you should take to put yourself in the best home-buying position possible! Want to hear more Money Rehab? Never miss an episode and subscribe to Money Rehab with Nicole Lapin wherever you get your favorite podcasts, or here: https://link.chtbl.com/91jeLu8k In This Episode We Cover Scott Trench’s checklist for the first-time home buyer The “Lock-In Effect” and why homeowners are unable to sell their houses Why your house isn’t the investment that you think it is House hacking, living next to tenants, and the truth about becoming a landlord Whether or not you need an LLC and how having one could actually hurt you The exact process Scott follows before buying any property And So Much More! Links from the Show BiggerPockets Money Facebook Group BiggerPockets Forums Finance Review Guest Onboarding Join BiggerPockets for FREE Scott's Instagram Grab Scott’s Book, “Set for Life” Listen to All Your Favorite BiggerPockets Podcasts in One Place Apply to Be a Guest on The Money Show Podcast Talent Search! Money Moment Check Out Mindy’s 2022 Live Spending Tracker and Budget Tune into “Money Rehab with Nicole Lapin” Nicole Lapin’s Money Hacks to Rehab Your Finances & Say Goodbye to Bad Debt Click here to check the full show notes: https://www.biggerpockets.com/blog/money-429 Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Email us: moneymoment@biggerpockets.com

If you want to retire early, the Mad Fientist is your guide. For over a decade, Brandon, more commonly known as the “Mad Fientist,” has been running simulations, experiments, and exercises to discover which road to early retirement is the fastest. Now, in his forties, Brandon has time to reflect on what worked, what didn’t, and his regrets on the sprint to early retirement and financial freedom. And he’s also got a new update that’ll make your early retirement journey smoother. After tinkering with the beloved and rarely challenged 4% rule, Brandon decided it was time to sit down and calculate how much you really need to retire early. For decades, financial freedom chasers have been breaking their backs, trying to have as much stashed away as possible to enjoy their well-earned time off from work. But, it turns out that this number might be overinflated, and you can retire with much less than you think. That means your early retirement timeline just got a LOT shorter. In this episode, Brandon will describe why the 4% rule may be a bit too rigid, how to ensure you’ll have enough during early retirement, what to do during a market crash or correction, and why spending thousands of dollars on a coffee machine isn’t such a bad idea. If you want to maximize enjoyment in early retirement, instead of building a big bank account you probably won’t use, stick around! In This Episode We Cover Early retirement rules of thumb you MUST know when on the path to FIRE The 4% rule and why you DON’T need to follow it to a tee Retirement withdrawal rules and how much to spend during a crash/correction The skill of spending and what Brandon regrets most from pre-FIRE life Tracking your expenses and why knowing your costs is CRUCIAL to early retirement And So Much More! Links from the Show BiggerPockets Money Facebook Group BiggerPockets Forums Finance Review Guest Onboarding Join BiggerPockets for FREE Mindy on BiggerPockets Scott's Instagram Grab Scott’s Book, “Set for Life” Listen to All Your Favorite BiggerPockets Podcasts in One Place Apply to Be a Guest on The Money Show Podcast Talent Search! Money Moment Check Out Mindy’s 2022 Live Spending Tracker and Budget Hear Our Past Interviews with The Mad Fientist: Accessing Retirement Funds Before Age 59½ with The Mad Fientist Backdoor Roths, Mega Backdoor Roths, and Roth Conversion Ladders Is It Time to Give Up on Financial Independence? Hear Our Interview with "Just Keep Buying" Author, Nick Maggiulli: The Problem with the 4% Rule (and Why You Could Retire Even Sooner Click here to check the full show notes: https://www.biggerpockets.com/blog/money-428 Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Email us: moneymoment@biggerpockets.com

A rental property portfolio can replace your job, give you ultimate financial freedom, and allow you to do what you want when you want. But building this massive passive income stream takes time, and if you stick with it, you’ll be rewarded plentifully like today’s guests, Jennifer and John. After starting with an “average” income, this couple was able to consistently buy cash-flowing rentals with the leftovers from their salaries. They compounded their cash flow to buy even more properties and now sit on around $8,000,000 in real estate. With so much wealth, you’d expect Jennifer and John to be the jet-skiing, vacation-home-buying, luxury car-racing types; but they’re FAR from it. John is still working at his W2 job as Jennifer continues to run her business. They both keep their spending low and live a moderate lifestyle. But, the lack of time freedom and heavy hours of a full-time job is eating away at John. This couple needs to know how they can use their real estate portfolio to retire early. To go through all the rates, rentals, construction costs, and cash-flow-number-crunching is investing expert James Dainard, who joins Scott on a resourceful episode for any real estate investor. James and Scott will review Jennifer and John’s entire portfolio, giving them suggestions on what to sell, keep, and buy instead. By the end of this episode, John and Jennifer have multiple options that could make them MILLIONS in just a few years’ time! In This Episode We Cover The “rate trap” that stops so many rental property investors from upgrading their portfolios Investing in real estate on an “average” income and why it’s possible for everyone Tapping into equity and the one metric that’ll tell you whether you should keep or sell your property Small multifamily vs. large multifamily and why bigger is usually better ADUs (accessory dwelling units) and how to make instant equity by building one And So Much More! Links from the Show BiggerPockets Money Facebook Group BiggerPockets Forums Finance Review Guest Onboarding Find Investor-Friendly Lenders Join BiggerPockets for FREE Scott's Instagram Connect with James BiggerPockets Watch James on the “On The Market” YouTube Channel Listen to The “On The Market” Podcast: Spotify, Apple Podcasts, BiggerPockets Grab Scott’s Book, “Set for Life” Listen to All Your Favorite BiggerPockets Podcasts in One Place Apply to Be a Guest on The Money Show Podcast Talent Search! Money Moment How To Build A Real Estate Portfolio ROE over ROI and Why Your “Cash Flow” Number is Deceiving Click here to check the full show notes: https://www.biggerpockets.com/blog/money-427 Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Email us: moneymoment@biggerpockets.com

The Financial Independence, Retire Early movement (FIRE movement) is changing. More people are investing, making money, and working from anywhere in the world. Investing education and advice has become easier to access, and self-made millionaires have been created through simple frugality and smart spending. Compared to when the FIRE movement was born, now may be one of the best times in recent history to achieve financial independence. But there’s more than one path to choose from. Happy Financial Independence Day! That’s right; we’re swapping hot dogs for home equity, fireworks for frugality, and a cold one for some cold hard cash because TODAY is a day to celebrate an accomplishment we all hope to achieve! In this special episode, Scott and Mindy fly solo, touching on the history of the FIRE movement, its most prominent figures, and lessons learned on the path to FI. But that’s not all; tell your overspending Uncle to tune in as Scott and Mindy debate some of the most common complaints about the FIRE movement and prove that anyone, in almost any situation, can live life on their terms. So sit back, grab those chips you saved for tomorrow’s barbeque (no one will notice), and get your FIRE started! In This Episode We Cover The financial independence retire early movement (FIRE movement) explained The MULTIPLE paths to early retirement you can take (and which is right for you) FIRE rules you MUST follow that can help ANYONE reach financial freedom What to do once you achieve FIRE and planning for it when you’re on the path Debating the FIRE critics and why you DON’T need to give up everything as you build wealth And So Much More! Links from the Show BiggerPockets Money Facebook Group BiggerPockets Forums Finance Review Guest Onboarding Join BiggerPockets for FREE Mindy on BiggerPockets Scott's Instagram Grab Scott’s Book, “Set for Life” Listen to All Your Favorite BiggerPockets Podcasts in One Place Apply to Be a Guest on The Money Show Podcast Talent Search! Check Out Mindy’s 2022 Live Spending Tracker and Budget Bill Bengen (The Inventor of the 4% Rule) From Homeless at 14 to Debt-Free Homeowner AFTER Prison Time with Jazmyn Gray How to Change Your Financial Life with a Money “Reset” with Jill Schlesinge Mr. Money Mustache on Life After FI: The Truth About Retiring Early in Your 30s Mr. Money Mustache Coast FI: The Calculated Way to Retire Early WITHOUT Giving Up What You Love with The Fioneers Designing a Frugal But Luxurious FI Life by Age 32 Change Your Money Mindset, Change Your Life with Vicki Robin Click here to check the full show notes: https://www.biggerpockets.com/blog/money- Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Email us: moneymoment@biggerpockets.com

If you make the right money moves, financial freedom is only a few years away. You can’t spend your entire paycheck on travel, trips, high rent, or entertainment if you want to retire early and have true time freedom. Matt Amabilerealized this earlier than most. At twenty-two years old, Matt wasn’t making much at his job, and living in an expensive area didn’t help. His goal was simple: live for free so he could pocket most of his take-home pay. What happened was even better than he would have expected. With one property purchase, Matt eliminated his rent expense and created a $1,600-a-month passive income stream. This first venture into real estate was challenging, to say the least. From shady contractors to fist fights in a four-unit, a renovation timeline that went much longer than expected, and lockdowns making even simple tasks impossible, Matt hoped the reward was worth the risk on his first property. Spoiler alert: it definitely was. Now, financially free at twenty-six, Matt works when he wants, where he wants, making $6,000 per month in passive income. He did all this in just four years, starting with $10,000, making a median salary. If Matt can do it, with zero experience in real estate investing, what’s stopping you from doing the same? In This Episode We Cover The most underrated real estate strategy that helps you reach financial freedom FAST The 203(k) loan explained and using it to make MASSIVE equity gains on a property Sacrificing luxuries and keeping your expenses low so you can retire early Real estate partnerships and how to buy properties when you don’t have any money The “BRRRR on training wheels” that new real estate investors should try Job hopping and how Matt tripled his salary in under five years And So Much More! Links from the Show BiggerPockets Money Facebook Group BiggerPockets Forums Finance Review Guest Onboarding Find Investor-Friendly Lenders Join BiggerPockets for FREE Scott's Instagram Connect with James BiggerPockets Watch James on the “On The Market” YouTube Channel Listen to The “On The Market” Podcast: Spotify, Apple Podcasts, BiggerPockets Grab Scott’s Book, “Set for Life” Listen to All Your Favorite BiggerPockets Podcasts in One Place Apply to Be a Guest on The Money Show Podcast Talent Search! Money Moment Click here to check the full show notes: https://www.biggerpockets.com/blog/money-425 Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Email us: moneymoment@biggerpockets.com