BiggerPockets Money Podcast

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 [https://www.biggerpockets.com/blog/retire-early-real-estate-investing]!) 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 [https://www.biggerpockets.com/glossary/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 [https://www.biggerpockets.com/blog/saving-money-ultimate-guide], 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 [https://www.biggerpockets.com/blog/side-hustle-ideas] 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 [https://www.biggerpockets.com/blog/pay-off-debt-fast] 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 [https://www.biggerpockets.com/users/mindyjensen?utm_source=youtube&utm_medium=description&utm_campaign=none] Scott on BiggerPockets [https://www.biggerpockets.com/users/scotttrench?utm_source=youtube&utm_medium=description&utm_campaign=none] Listen to All Your Favorite BiggerPockets Podcasts in One Place [https://www.biggerpockets.com/podcasts?utm_source=youtube&utm_medium=description&utm_campaign=none] Join BiggerPockets for FREE [https://www.biggerpockets.com/signup?utm_source=owned_media] Email Mindy: Mindy@biggerpockets.com Email Scott: Scott@biggerpockets.com BiggerPockets Money Facebook Group [https://www.facebook.com/groups/3307645739309341] BiggerPockets Money 169 - Breaking the Taboo of Talking About Money with Friends, Family, and Bosses w/Erin Lowry  [https://www.biggerpockets.com/blog/biggerpockets-money-podcast-169-erin-lowry] BiggerPockets Money 586 - Average Net Worth by Age (How Do You Compare?) [https://www.biggerpockets.com/blog/money-586] Email setforlife@biggerpockets.com [setforlife@biggerpockets.com] 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 [https://www.biggerpockets.com/connectinvest] Grab Scott’s Book, “Set for Life” [https://store.biggerpockets.com/products/set-for-life-revised-edition?utm_source=owned_media] Find an Investor-Friendly Agent in Your Area [http://biggerpockets.com/agentmatch] BiggerPockets Money 422 - The Late Starter’s Guide to Financial Independence (Even in Your 50s!) [https://www.biggerpockets.com/articles/money-422?utm_source=youtube&utm_medium=description&utm_campaign=none] (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 [https://www.biggerpockets.com/] and https://www.biggerpockets.com/blog/money-591 [%20https://www.biggerpockets.com/blog/money-591] Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com [advertise@biggerpockets.com] Learn more about your ad choices. Visit megaphone.fm/adchoices [https://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 [https://www.biggerpockets.com/blog/money-355] for 2025 from the expert, Chris Hutchins of All the Hacks [https://www.chrishutchins.com/follow/]! 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 [https://www.biggerpockets.com/blog/retire-early-real-estate-investing] 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 [https://www.biggerpockets.com/blog/side-hustle-ideas], 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 [https://www.biggerpockets.com/blog/fire-financial-independence-retire-early] 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 [https://www.biggerpockets.com/blog/property-tax-faq] 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 [https://www.biggerpockets.com/blog/imple-hacks-healthcare-childcare-costs] 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 [https://www.biggerpockets.com/users/mindyjensen?utm_source=youtube&utm_medium=description&utm_campaign=none] Scott on BiggerPockets [https://www.biggerpockets.com/users/scotttrench?utm_source=youtube&utm_medium=description&utm_campaign=none] Listen to All Your Favorite BiggerPockets Podcasts in One Place [https://www.biggerpockets.com/podcasts?utm_source=youtube&utm_medium=description&utm_campaign=none] Join BiggerPockets for FREE [https://www.biggerpockets.com/signup?utm_source=owned_media] Email Mindy: Mindy@biggerpockets.com Email Scott: Scott@biggerpockets.com BiggerPockets Money Facebook Group [https://www.facebook.com/groups/3307645739309341] BiggerPockets Money 473 - Holiday Shopping Hacks That’ll Save You Hundreds (or Thousands) This Season w/Chris Hutchins [https://www.biggerpockets.com/blog/money-473] BiggerPockets Real Estate 783 - Home Buying Hacks: Finding The Perfect House (and Agent!) w/Chris Hutchins [https://www.biggerpockets.com/articles/real-estate-783] BiggerPockets Real Estate 955 - BiggerNews: Real Estate vs. Stocks, the Ultimate Wealth-Building Debate w/Chris Hutchins and The Motley Fool [https://www.biggerpockets.com/blog/real-estate-955] Why You Shouldn't Stop Working Once You Hit Financial Freedom w/Chris Hutchins [https://youtu.be/YxSPXPRc3Rs?si=WV5E97XSwpnaZxx9] All the Hacks  [https://www.chrishutchins.com/follow/] All the Hacks 34 - Insider Tricks to Healthcare, Prescriptions and Medical Bills with Marshall Allen [https://www.chrishutchins.com/hacking-healthcare-marshall-allen/] All the Hacks 104 - Optimizing Your Insurance Policies (Auto, Home/Renters, Umbrella, Life, Disability, Pet, and Travel) [https://www.chrishutchins.com/insurance-hacks/] All the Hacks 181 - Making an Easy $3k/mo from Online Deals with Kai [https://www.chrishutchins.com/profitable-deals-into-side-hustle/] Blueberry Pediatrics  [https://www.blueberrypediatrics.com/?] in-kind - Restaurant Savings App [https://inkind.com/] Ownwell - Property Tax Reducer  [https://www.ownwell.com/] Summer Health  [https://www.summerhealth.com/]   Check out more resources from this show on BiggerPockets.com [https://www.biggerpockets.com/] and https://www.biggerpockets.com/blog/money-590 [https://www.biggerpockets.com/blog/money-590] Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com [advertise@biggerpockets.com] Learn more about your ad choices. Visit megaphone.fm/adchoices [https://megaphone.fm/adchoices]

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 [https://www.biggerpockets.com/real-estate-investing/house-hacking-strategy], which pays for most of her mortgage [https://www.biggerpockets.com/glossary/mortgage] in an expensive area of the US. But that’s not all. She has also grown her side hustle [https://www.biggerpockets.com/blog/side-hustle-ideas] as a real estate agent [https://www.biggerpockets.com/blog/what-is-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 [https://www.biggerpockets.com/blog/entrepreneurship-pros-cons] 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 [https://www.biggerpockets.com/blog/real-estate-vs-stocks-performance]) Tax strategies that could help you save a fortune over your lifetime And So Much More! Links from the Show Mindy on BiggerPockets [https://www.biggerpockets.com/users/mindyjensen?utm_source=youtube&utm_medium=description&utm_campaign=none] Scott on BiggerPockets [https://www.biggerpockets.com/users/scotttrench?utm_source=youtube&utm_medium=description&utm_campaign=none] Listen to All Your Favorite BiggerPockets Podcasts in One Place [https://www.biggerpockets.com/podcasts?utm_source=youtube&utm_medium=description&utm_campaign=none] Join BiggerPockets for FREE [https://www.biggerpockets.com/signup?utm_source=owned_media] Email Mindy: Mindy@biggerpockets.com Email Scott: Scott@biggerpockets.com BiggerPockets Money Facebook Group [https://www.facebook.com/groups/3307645739309341] How to Talk to Anyone [https://www.amazon.com/How-Talk-Anyone-Success-Relationships/dp/007141858X] Buy Scott’s Book “Set for Life” [https://store.biggerpockets.com/products/set-for-life-revised-edition?utm_source=owned_media] Find an Investor-Friendly Agent in Your Area [http://biggerpockets.com/agentmatch] BiggerPockets Money 395 – Finance Friday: House Hacking, Side Hustles, and the Path to FI by 45 w/Alex Preziosi [https://www.biggerpockets.com/blog/money-395?utm_source=youtube&utm_medium=description&utm_campaign=none] Connect with Alex [https://www.biggerpockets.com/users/alexandrap6?utm_source=youtube&utm_medium=description&utm_campaign=none] (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 [https://www.biggerpockets.com/] and https://www.biggerpockets.com/blog/money-589 [https://www.biggerpockets.com/blog/money-589] Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com [advertise@biggerpockets.com] Learn more about your ad choices. Visit megaphone.fm/adchoices [https://megaphone.fm/adchoices]

Many people struggle with money anxiety, even those in the FIRE [https://www.biggerpockets.com/blog/fire-financial-independence-retire-early] 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 [https://www.biggerpockets.com/blog/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 [https://www.biggerpockets.com/blog/discover-you-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 [https://www.biggerpockets.com/blog/why-you-can-have-nice-things] in your youth. Scott and Mindy will even debate whether the returns from real estate investing [https://www.biggerpockets.com/guides/ultimate-real-estate-investing-guide] are worth the trouble of managing rental properties [https://www.biggerpockets.com/guides/how-to-buy-rental-property]! In This Episode We Cover How much money you actually need to retire (and if the four-percent rule [https://www.biggerpockets.com/blog/4-percent-retirement-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 [https://www.biggerpockets.com/blog/retirement-overrated] And So Much More! Links from the Show Mindy on BiggerPockets [https://www.biggerpockets.com/users/mindyjensen?utm_source=youtube&utm_medium=description&utm_campaign=none] Scott on BiggerPockets [https://www.biggerpockets.com/users/scotttrench?utm_source=youtube&utm_medium=description&utm_campaign=none] Listen to All Your Favorite BiggerPockets Podcasts in One Place [https://www.biggerpockets.com/podcasts?utm_source=youtube&utm_medium=description&utm_campaign=none] Join BiggerPockets for FREE [https://www.biggerpockets.com/signup?utm_source=owned_media] Email Mindy: Mindy@biggerpockets.com Email Scott: Scott@biggerpockets.com BiggerPockets Money Facebook Group [https://www.facebook.com/groups/3307645739309341] BiggerPockets Money 455 – REITs: How to Make Real Estate Money WITHOUT Owning Rentals [https://www.biggerpockets.com/blog/money-455] Rent vs. Buy Spreadsheet [https://www.biggerpockets.com/homebuyerbonus] The Passive Real Estate Investing Show [https://passivepockets.com/podcast/] The 1% Rule [https://www.amazon.com/1-Rule-Process-Achieve-Wildest/dp/1985635488] “Determining Withdrawal Rates Using Historical Data” [https://kyestates.com/wp-content/uploads/2015/02/Bengen1.pdf] Try Baselane, the One Platform for All Your Property Banking & Finances [https://www.baselane.com/lp/bigger-pockets?utm_source=partner_biggerpockets&utm_medium=Social&utm_campaign=bp_social_youtube] Buy Scott and Mindy’s Book, “First-Time Home Buyer” [https://store.biggerpockets.com/products/first-time-home-buyer?utm_source=owned_media] Find an Investor-Friendly Agent in Your Area [http://biggerpockets.com/agentmatch] BiggerPockets Money 522 – How to Get PAID to Live in an Affordable City & Fast-Track Financial Freedom [https://www.biggerpockets.com/blog/money-522?utm_source=youtube&utm_medium=description&utm_campaign=none] (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 [https://www.biggerpockets.com/] and https://www.biggerpockets.com/blog/money-587 [https://www.biggerpockets.com/blog/money-587] Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com [advertise@biggerpockets.com] Learn more about your ad choices. Visit megaphone.fm/adchoices [https://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 [https://www.biggerpockets.com/blog/how-to-build-wealth-with-real-estate], 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 [https://www.biggerpockets.com/blog/fire-financial-independence-retire-early]. 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 [https://www.biggerpockets.com/blog/passive-income-from-real-estate] by slowly investing in real estate Dion’s journey from $89,000 in debt and low-paying jobs to financial freedom [https://www.biggerpockets.com/blog/financial-freedom-at-the-lowest-barrier-of-entry] 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 [https://www.biggerpockets.com/blog/building-scaling-real-estate-portfolio] (and you shouldn’t either!) And So Much More! Links from the Show Mindy on BiggerPockets [https://www.biggerpockets.com/users/mindyjensen?utm_source=youtube&utm_medium=description&utm_campaign=none] Scott on BiggerPockets [https://www.biggerpockets.com/users/scotttrench?utm_source=youtube&utm_medium=description&utm_campaign=none] Listen to All Your Favorite BiggerPockets Podcasts in One Place [https://www.biggerpockets.com/podcasts?utm_source=youtube&utm_medium=description&utm_campaign=none] Join BiggerPockets for FREE [https://www.biggerpockets.com/signup?utm_source=owned_media] Email Mindy: Mindy@biggerpockets.com Email Scott: Scott@biggerpockets.com BiggerPockets Money Facebook Group [https://www.facebook.com/groups/3307645739309341] Support Today’s Show Sponsor, Connect Invest, the Alternative Way to Earn Passive Income Through Real Estate [https://www.biggerpockets.com/connectinvest] Want to Retire Early with a Small Rental Portfolio? Grab the Book “Small and Mighty Real Estate Investor” [https://store.biggerpockets.com/products/small-and-mighty-real-estate-investor?utm_source=youtube&utm_medium=description&utm_campaign=none] Find an Investor-Friendly Agent in Your Area [http://biggerpockets.com/agentmatch] The Lazy Person’s Guide to Financial Freedom in Less Than 10 Years with Dion Mcneeley [https://www.biggerpockets.com/blog/biggerpockets-podcast-448-dion-mcneeley?utm_source=youtube&utm_medium=description&utm_campaign=none] Connect with Dion [https://www.biggerpockets.com/users/dionm12?utm_source=youtube&utm_medium=description&utm_campaign=none] (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 [https://www.biggerpockets.com/] and https://www.biggerpockets.com/blog/money-587 [https://www.biggerpockets.com/blog/money-587] Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com [advertise@biggerpockets.com] Learn more about your ad choices. Visit megaphone.fm/adchoices [https://megaphone.fm/adchoices]