324: Finance Friday: Why Even Millionaires Still Have to Budget
Episode Date: August 5, 2022What is a millionaire? By definition, someone who has a million dollars or more in net worth. But what do you think of when we say “millionaire”? Are...
Intermediate to advanced personal finance strategies for people serious about the FIRE (financial independence retire early) movement—not just dreaming about it. Tune in on Tuesdays and Fridays for new BiggerPockets Money episodes with your hosts, Mindy Jensen and Scott Trench! Or visit BiggerPocketsMoney.com with additional resources.
733 episodes transcribedWhat is a millionaire? By definition, someone who has a million dollars or more in net worth. But what do you think of when we say “millionaire”? Are...
Coast FI is an interesting concept. Unfortunately, to much of Mindy’s surprise, “coast FI” doesn’t mean having enough money to live by the coast. But,...
Rental property cash flow is one of the most important metrics to calculate when analyzing real estate. Your cash flow not only helps you make a littl...
Living paycheck to paycheck isn’t sustainable. But, if you’re in this position, you already know that. The stress of always worrying about bills, scro...
Retirement strategies range from simple index fund investing all the way to full-on real estate development deals. What works for some investors won’t...
Your financial freedom journey won’t look like anyone else’s. It’s your future, your passion, and your life on the line when trying to hit financial i...
The “semi-retired” lifestyle seems to go against everything early retirement chasers have been taught. For years, it’s been pushed into our brains tha...
Early retirement is something people in their forties and fifties do, right? It would seem almost impossible for someone to retire in their mid/late t...
When building your budget, do you have a line designated for “economic downturn” or “high inflation?” Probably not. Many financial freaks like Carl an...
Passive income and credit scores. While they don't entirely rely on each other, having good credit does allow you to build passive income streams far...
Those searching how to retire early usually come away with one conclusion—you have to make much, much more money. Most financial independence pursuers...
Early retirement is one of those common personal finance topics that always comes up on the show. It’s arguably the most talked-about subject in our F...
“Buy now, pay later” companies have been around for decades, but not in the form they take today. You may have noticed that when you check out from an...
What's stopping you from becoming debt-free? Everyone’s answers will vary, but one truth remains the same—excessive debt can prevent you from living t...
Retirement investing is a crucial part of planning for financial freedom. While early retirement is a status that almost everyone would love to achiev...
I Bonds, and treasury bonds in general, have always been thought of as the “retiree's investment choice.” For those that have a short time horizon on...
Many FIRE chasers want to know how to stop overspending. But maybe the solution to overspending is simply knowing about it in the first place. For man...
Want to work less and make more? With a forty-hour workweek, it seems hard to imagine a reality where you can do less but still get the same results....
If you want to invest in real estate, you’ll need a few things: a property, an income source, and some cash. If you’ve got all three, you should be ab...
Before you quit your job, you will need to prepare yourself not just financially, but mentally. If you’re thinking of leaving your W2, and you're not...