BiggerPockets Money Podcast

By: BiggerPockets
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  • Summary

  • For those who have money… or want more of it! Join Mindy Jensen and Scott Trench (from BiggerPockets.com) weekly for the BiggerPockets Money Podcast. Each week, financial experts Mindy and Scott interview unique and powerful thought leaders about how to earn more, keep more, spend smarter, and grow wealth.
    © Copyright © 2024 BiggerPockets. All Rights Reserved. Disclaimer: The information contained in this podcast is for general informational purposes only. In no event will BiggerPockets be liable for any loss or damage derived from the information provided.
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Economics Personal Finance
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Episodes
  • How to Retire Early in Your 40s by Supercharging Your Savings

    How to Retire Early in Your 40s by Supercharging Your Savings
    Nov 8 2024
    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: Mindy@biggerpockets.com Email Scott: Scott@biggerpockets.com 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 advertise@biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices
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    26 mins
  • The Best (and Worst) States in the US to Retire in 2024 (FIRE Faster?)

    The Best (and Worst) States in the US to Retire in 2024 (FIRE Faster?)
    Nov 5 2024
    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: Mindy@biggerpockets.com Email Scott: Scott@biggerpockets.com 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 advertise@biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices
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    40 mins
  • Finance Friday: Signs You’re Saving TOO Much for Retirement

    Finance Friday: Signs You’re Saving TOO Much for Retirement
    Nov 1 2024
    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: Mindy@biggerpockets.com Email Scott: Scott@biggerpockets.com 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 advertise@biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices
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    57 mins

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