How the Top 1% Invest (and How Do YOU Compare?)

BiggerPockets Money Podcast

Listen to All Your Favorite BiggerPockets Podcasts in One Place

22:42

Bob Stobener , a seasoned leader celebrated for his adept communication skills, has a unique perspective on improving communication as a means to foster understanding and collaboration. Drawing from his creative background in cartooning and strategic advertising at a successful comedy club, Stobener believes that effective communication is essential not only for resolving conflicts but also for enhancing personal and professional growth. He emphasizes the importance of listening and forming genuine connections, demonstrating how these practices can lead to positive outcomes, as seen in his ability to guide team members toward fulfilling career paths. By advocating for open and honest dialogue, Stobener illustrates how strong communication skills can support individual success and organizational excellence across various industries. (00:01:52) Communication Skills: Comedy Club to Corporate Success (00:14:21) Transparent Interactions: The Foundation of Leadership Success (00:14:21) Transformative Impact of Transparent Leadership Communication (00:19:41) Mastering Communication Skills for Multifaceted Success Hosted by Larry Wilson Produced by: Verbal Ninja Productions Producer: R. Scott Edwards Sponsored by: The Wilson Method **Check out NEW upgraded website with FREE offer !! Visit: https://theWilsonMethod.com Link: TheWilsonMethod.com…

17 days ago 44:51

MP3•Episode home

How do the top 1% of Americans invest their money, and how do your investments compare? We’re breaking down the data, showing what the wealthiest Americans are invested in and how to copy their 1% portfolio so you can invest like the ultra-wealthy. To be in the top 1% of Americans, you must have at least eight figures. And while that’s a Fat FIRE number, most of us don’t need tens of millions to retire early. But copying some of the tactics of the top 1% could get you there faster.

One thing slingshots average Americans to the top 1%, and even the top 0.1%, but you don’t have to bank on this huge bet to get there. Surprisingly, the top 1% invests in assets that YOU already have access to, not elite-only investment opportunities or massive business deals. They’re invested in FAR more passive assets than you’d think, so you don’t HAVE to build a real estate portfolio to get there.

What gives you the best chance of hitting the top 1% in wealth? Maybe you don’t want to go that far—how do you get to the top 10%? Scott and Mindy share a few strategies that could skyrocket your net worth into the tens of millions—if you’re willing to do the work. Plus, they reveal where to park your money once you reach the top.

In This Episode We Cover

The average net worth of the 1% and the 0.1% in America (less than you’d think)

How the 1% invest their money and why they AREN’T heavily invested in real estate

The best investment for the chance of breaking into the top 1%

The “middle-class trap” that the 1% escape, but the upper-middle-class can’t

How the top 1% invest now compared to pre-pandemic and pre-2008

And So Much More!

Links from the Show

Mindy on BiggerPockets

Scott on BiggerPockets

Join BiggerPockets for FREE

Email Mindy: Mindy@biggerpockets.com

Email Scott: Scott@biggerpockets.com

BiggerPockets Money Facebook Group

Follow BiggerPockets Money on Instagram

“Like” BiggerPockets Money on Facebook

BiggerPockets Money YouTube Channel

Get $100 Off Your Tickets to BPCON2025 in Las Vegas, Nevada

Grab “The Millionaire Next Door”

Find an Investor-Friendly Agent in Your Area

BiggerPockets Money 325 - How to Buy Yourself a 6-Figure Income Stream w/Tim Delaney

#Personal Finances #Lifestyle #Trading #Wealth #Realestate #Money #Business #podcast@biggerpockets.com #Podcasting Education #Financial Independence #Financial Freedom #Investing #Finance #Succession #BiggerPockets

(00:00) Intro

(01:12) Top 1% Net Worth

(08:49) The Top 1% Portfolio

(16:05) How Their Investments Evolve

(17:40) Cheat Code to 1% Status?

(21:12) Average American vs. 1% Investments

(29:46) Best Investment to Become 1%?

Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-614

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

633 episodes

BiggerPockets Money Podcast

How the Top 1% Invest (and How Do YOU Compare?)

BiggerPockets Money Podcast

1,229 subscribers

published 17 days ago

MP3•Episode home

In This Episode We Cover

The average net worth of the 1% and the 0.1% in America (less than you’d think)

How the 1% invest their money and why they AREN’T heavily invested in real estate

The best investment for the chance of breaking into the top 1%

The “middle-class trap” that the 1% escape, but the upper-middle-class can’t

How the top 1% invest now compared to pre-pandemic and pre-2008

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

Follow BiggerPockets Money on Instagram

“Like” BiggerPockets Money on Facebook

BiggerPockets Money YouTube Channel

Get $100 Off Your Tickets to BPCON2025 in Las Vegas, Nevada

Grab “The Millionaire Next Door”

Find an Investor-Friendly Agent in Your Area

BiggerPockets Money 325 - How to Buy Yourself a 6-Figure Income Stream w/Tim Delaney

(00:00) Intro

(01:12) Top 1% Net Worth

(08:49) The Top 1% Portfolio

(16:05) How Their Investments Evolve

(17:40) Cheat Code to 1% Status?

(21:12) Average American vs. 1% Investments

(29:46) Best Investment to Become 1%?

Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-614

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

633 episodes

All episodes

BiggerPockets Money Podcast

1
Can Your FIRE Portfolio Survive a Stock Market Crash? 45:31

1 hour ago45:31

45:31

The stock market is shifting , and your portfolio needs to change NOW if you want to reach or stay FIRE (financial independence, retire early) . Many early retirees are sitting anxiously , watching their net worth fall by 10% (or more), making each withdrawal from their portfolio increasingly risky. If you’re close to financial independence or are retired early already , you CANNOT risk losing the gains you’ve worked so hard for . This is what we’re doing NOW to keep our FIRE portfolios crash-resistant. Last month, Scott talked about his big decision to sell off a chunk of his index fund portfolio in fears of overvalued stock prices. What followed? A significant stock sell-off , with some major indexes falling 10% already. Scott urges those close to FIRE to “lock in” their gains and avoid unnecessary risks to push their FIRE numbers higher. So, what did Scott move his money into , and should you do the same? Should you switch to bonds for a safer but lower-return correction hedge? What happens if this stock downturn lasts years? Should someone in their 20s or 30s, just starting on the FIRE path, stop investing or double down? We’re answering all of your burning FIRE questions today! In This Episode We Cover Why Amy uses a financial advisor to help manage her money in retirement Amy’s journey to financial independence , losing her husband, and retiring early Assets under management (AUM) versus fee-only advisors (and which one to hire!) How to reach your FIRE number sooner through “experimental deprivation” Why you need to have regular money check-ins with your significant other 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 Follow BiggerPockets Money on Instagram “Like” BiggerPockets Money on Facebook BiggerPockets Money YouTube Channel Save $100 on Real Estate’s Biggest Event of the Year, BPCON2025 Get to FIRE Faster with “Set for Life” Sign Up for the BiggerPockets Money Newsletter Find an Investor-Friendly Agent in Your Area BiggerPockets Real Estate 1,095 - Scott Trench: How I’m Protecting My Money From “Irrational Exuberance” (00:00) Stock Market Update (06:44) Close to FIRE? Do This (14:41) Fix Your FIRE Portfolio (17:20) Lock-In Your FIRE! (19:02) Scott’s 2025 FIRE Portfolio (21:30) Already Retired/FIRE? (23:46) What About Taxes? (28:49) What if This Crash Lasts? (35:00) Start Shifting Toward Retirement Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-622 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…

BiggerPockets Money Podcast

1
When You Should (and Shouldn’t) Hire a Financial Advisor | Life After FIRE 46:45

2 days ago46:45

46:45

Could hiring a financial advisor help you reach financial independence and retire early? This isn’t a popular move in the FIRE community, but it gave today’s guest peace of mind, preserved her wealth, and helped her save on taxes in retirement. Stick around to learn if it’s the right choice for you, too! Welcome to another episode of “Life After FIRE”! Today, we’re chatting with Amy, who was dealt a set of circumstances that altered her life and retirement plans . Amy and her late husband, Phil, arrived at their FIRE number in 2020. Just as they were preparing for early retirement, Phil tragically passed, and Amy was left to not only navigate a new normal but also take control of her finances. Still reeling from the loss of her husband, Amy hired a financial advisor, which turned out to be one of the best decisions she ever made. In this episode, Amy shares how she used money check-ins and a year of “experimental deprivation” to speed up her path to retirement. She also discusses the pros and cons of using financial advisors, the differences between the assets-under-management and fee-only models, and how to properly vet an advisor to ensure you’re getting your money’s worth! In This Episode We Cover Why Amy uses a financial advisor to help manage her money in retirement Amy’s journey to financial independence, losing her husband, and retiring early Assets under management (AUM) versus fee-only advisors (and which one to hire!) How to reach your FIRE number sooner through “experimental deprivation” Why you need to have regular money check-ins with your significant other And So Much More! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-621 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…

BiggerPockets Money Podcast

1
Motley Fool’s Ricky Mulvey: Why I’m Buying MORE Stocks Despite Growing Recession Risk 55:10

3 days ago55:10

55:10

Are we headed right for a recession , or are stocks on sale ? We don’t own a crystal ball, but Ricky Mulvey from The Motley Fool is capitalizing on the recent stock market swing by loading up on some of his favorite equities. Stay tuned to find out if now is an ideal time for YOU to “stock up,” too! Welcome back to the BiggerPockets Money podcast ! In light of the recent market pullback, Ricky is going to share why he thinks it’s the right time to take advantage of low stock prices . He’ll discuss some of his best bargain buys, his biggest portfolio wins and losses in recent years, and, most importantly, the four-step approach you can use to identify stocks that could be set to soar in 2025. If you’re a regular listener, you know that Scott and Mindy are partial to stashing their money in index funds , sitting back, and watching their wealth snowball over the long haul. You might say that Ricky has a slightly larger appetite for risk , as he isn’t opposed to picking stocks , timing the market , and getting out after three to five years . Stick around to find out if his strategy works! In This Episode We Cover Whether now is the time to buy stocks after the recent market pullback Ricky’s four-step approach to finding value in the stock market Using insider buying activity to find potential investing opportunities How to prevent “ tax drag ” when buying and selling off stocks Reviewing Ricky’s biggest portfolio wins and losses (Meta, Spotify, and more!) 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 Follow BiggerPockets Money on Instagram “Like” BiggerPockets Money on Facebook BiggerPockets Money YouTube Channel Motley Fool Money Podcast Ricky’s Twitter/X A Simple Path to Wealth One Up on Wall Street Get Fast, Affordable Landlord Insurance with Steadily Get $100 Off Your Tickets to BPCON2025 in Las Vegas, Nevada Grab Scott’s Book, “Set for Life” Sign Up for the BiggerPockets Money Newsletter Find an Investor-Friendly Agent in Your Area BiggerNews: Real Estate vs. Stocks, the Ultimate Wealth-Building Debate (00:00) Intro (01:09) The Recent Pullback (08:53) Hunting for Value (18:55) Portfolio Wins & Losses (24:58) Holding Periods & “Tax Drag” (30:18) Why Costco Is “Safe” (33:05) How to Pick Stocks (38:50) Connect with Ricky! (40:45) Do Your Research! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-620 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…

BiggerPockets Money Podcast

1
Is the 4% Rule Dead? 43:08

7 days ago43:08

43:08

Is the 4% rule dead? Most FIRE-chasers are using this retirement rule completely wrong , and it could cost them their financial freedom. With stock prices falling and many Americans fearing another recession , now is the time to tighten up your retirement portfolio and ensure you can survive if stock prices correct or crash. If you get this wrong, you could delay your FIRE for years or have to go back to work mid-retirement. The 4% rule is one of the most bulletproof retirement formulas. It’s simple: Build a portfolio from which you can comfortably withdraw 4% annually . Need $40,000 per year to live? Your FIRE number is $1,000,000. Need $100,000 per year? Then you’re looking at $2,500,000. This math has been checked , double-checked, and triple-checked to withstand even the greatest economic depressions . However, most people have their portfolio set up WRONG, and it could put them at significant risk. So, how do you ENSURE you can retire (early) with the 4% rule? What hedges should you make in your portfolio so your wealth stays afloat even as the economic tide starts to turn? What are Scott and Mindy doing now to prepare for a rocky stock market? Don’t miss this one—it could cost you your FIRE! In This Episode We Cover The 4% rule explained and whether it still works in 2025 and during market downturns Why your FIRE portfolio is WRONG , and it could be at massive risk right now How to prepare for an economic downturn to ensure you stay FIREd or on the path to FIRE What Scott is selling and buying right now to protect his wealth (will his strategy work?) Alternatives to the 4% rule that will protect your retirement portfolio even during the greatest of depressions 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 Follow BiggerPockets Money on Instagram “Like” BiggerPockets Money on Facebook BiggerPockets Money YouTube Channel BiggerPockets Real Estate 1,095 - Scott Trench: How I'm Protecting My Money From “Irrational Exuberance” BiggerPockets Money 120 - Are FIRE Naysayers Bad at Math? Yes. with Michael Kitces The Rational Investor’s Case Against Bitcoin Dow Jones - DJIA - 100 Year Historical Chart Try REsimpli, The Only All-In-One Real Estate Investor CRM Software That Helps You Manage Data, Marketing, Sales, and Operations Get to FIRE Faster with “Set for Life” Sign Up for the BiggerPockets Money Newsletter Find an Investor-Friendly Agent in Your Area (00:00) Is the 4% Rule Dead? (04:39) You CANNOT FIRE with This (11:42) How to Prepare for Downturns (21:12) Assets That Are At Risk (23:17) What Scott’s Buying/Selling (28:29) Alternatives to 4% Rule Portfolio (34:21) Do You Trust the 4% Rule? Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-619 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…

BiggerPockets Money Podcast

1
Losing $150K, Starting Over, and STILL Retiring Early | Life After FIRE 36:24

9 days ago36:24

36:24

Think you’ve blown your chances of achieving FIRE ? You haven’t! Just ask Nik Johnson , who spent years growing his nest egg , only to have it completely wiped out with one bad financial decision . Despite losing everything, he managed to rebuild it from ground zero and still retire early ! Welcome to another episode of “ Life After FIRE ”! Nik and his wife had done everything right. They practiced frugality , saved aggressively , and invested at every opportunity . But everything was turned on its head when Nik decided to empty his retirement accounts and open a car dealership . Within just one year, Nik’s company had gone belly up , and as a result, all the money he had worked so hard to save was gone. It seemed that he had missed his one shot at early retirement , but rather than giving up on that dream, he started over. If he could do it once, he could do it again ! So, Nik found a W2 job , picked up a second job to fast-track his savings , and started throwing all his money at retirement accounts and real estate investments , and now, he and his wife are recently retired! Stick around as Nik shows you how to avoid the middle-class trap , what life looks like after FIRE, and the importance of community once you retire! In This Episode We Cover How Nik built, lost, and rebuilt his investments and still achieved FIRE Supercharging your investments by creating extra income streams How not to find seed money for a risky entrepreneurial venture The savvy financial moves Nik made to avoid the middle-class trap What the average “day in the life” of an early retiree looks like Why you need a strong community around you once you retire 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 Follow BiggerPockets Money on Instagram “Like” BiggerPockets Money on Facebook BiggerPockets Money YouTube Channel Everyday Money Heroes Podcast Join a ChooseFI Group Grab the Book, “Set for Life” Sign Up for the BiggerPockets Money Newsletter Find an Investor-Friendly Agent in Your Area Buying at the Peak, Surviving a Crash, and STILL Being Able to Quit at 38 Connect with Carl (00:00) Intro (01:22) Growing His “Empire” (08:58) Losing $150K! (12:05) Rebuilding His Wealth (16:48) Life After FIRE (24:20) Nik’s Investment Portfolio (28:34) Connect with Nik! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-618 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…

BiggerPockets Money Podcast

1
How to Stay Rich During FIRE by Dodging the 4 Financial “Horsemen” 52:03

10 days ago52:03

52:03

You’ve worked so hard to finally achieve FIRE (financial independence, retire early); the last thing you want is your wealth to dwindle or disappear entirely. Unknown to most FIRE-chasers, four financial “horsemen” (of the personal finance apocalypse) could steal your wealth right out from under you, without you even realizing it. What are the four horsemen, and how are we protecting our FIRE portfolios from them ? To make sure you not only become wealthy but stay wealthy, we brought Whitney Elkins-Hutten , author of Money for Tomorrow , on the show to share the best ways to keep your portfolio safe from the four horsemen . Whitney scaled her portfolio from almost nothing to life-changing wealth, and she could have lost it all if she hadn’t learned how to protect it. Mindy and Scott tag-team to show YOU how to protect your FIRE from these four horsemen , including sharing what they’re doing right now to set themselves up for a successful (and safe) financial future. Don’t let your wealth get drained before OR during FIRE ; take these tips to heart ASAP! In This Episode We Cover The four “horsemen” that could destroy your FIRE lifestyle and disrupt your generational wealth How Whitney went from accidental house flipper to financially-free investor The overlooked investing “fees” that could cost you hundreds of thousands of dollars Why you’re (probably) paying too much money for insurance (and how to start saving) When (and when not) to pay off debt and which balances to prioritize first 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 Follow BiggerPockets Money on Instagram “Like” BiggerPockets Money on Facebook BiggerPockets Money YouTube Channel Grab Whitney’s Book “Money for Tomorrow” Save $100 on Real Estate’s Biggest Event of the Year, BPCon2025 Sign Up for the BiggerPockets Money Newsletter Find an Investor-Friendly Agent in Your Area The Points Guy’s Travel Hacking Tips to Fly for FREE in 2025 Connect with Whitney (00:00) Intro (06:00) "Ownership" Makes You Rich (10:09) Aggressively Investing in Rentals (11:52) This Could Destroy Your Wealth (19:07) Which Debt to Pay Off (23:14) Save Thousands on Insurance (30:23) This Could Delay Your FIRE (37:08) STOP Being Scared of Taxes! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-617 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…

BiggerPockets Money Podcast

1
Can I Hit Financial Independence by 50 with THIS FI Number? (Finance Friday) 1:01:20

14 days ago1:01:20

1:01:20

Is your FI number TOO high? Whether you are ultra-conservative with your finances or want a lavish retirement lifestyle, setting a high bar could make your financial independence journey much harder…but not impossible. Today, we’ll provide a roadmap for building massive wealth! Welcome back to the BiggerPockets Money podcast! With a six-figure income and a six-figure net worth at just 25 years old, Austin Crofoot should have no problem reaching financial independence by age 50, right? The only issue is that his FI number of $5,000,000 is much higher than most. As you’re about to hear, he’ll need to make several “bets” over the next few years, cross his fingers, and hope that at least one of them pays off in a huge way. Like many in the FIRE community, Austin also wants to avoid the middle-class trap . Scott and Mindy will show him how to balance his retirement accounts with a mix of cash, brokerage accounts, and real estate investments —giving him the financial flexibility to pursue entrepreneurial ventures and retire on his terms. Stick around to hear how Austin can take advantage of a rebounding housing market by taking on assumable mortgages with rock-bottom interest rates! In This Episode We Cover The “levers” Austin needs to pull to reach his $5,000,000 FI number The roadmap to achieving financial independence by age 50 How Austin built a six-figure net worth by just 25 years old Building wealth by taking on assumable mortgages with low interest rates Why the Austin, Texas housing market is poised to bounce back in 2025 Reducing your taxable income to maximize Roth IRA contributions And So Much More! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-616 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…

BiggerPockets Money Podcast

1
Ditch Corporate! Start Taking the “Slow” Path to Retirement w/Tae Kim | Life After FIRE 39:29

16 days ago39:29

39:29

The “ death march to FI ” isn’t for everyone. If you’re tired of climbing the corporate ladder or lacking a sense of purpose at your W2 job , it’s not too late to escape the rat race and design the life you want , just like the “Financial Tortoise,” Tae Kim , did! In this episode of “ Life After FIRE ,” Tae returns to the show to discuss his move from the corporate world to a job that gives him the freedom and flexibility to travel, spend more time with his family, and actually enjoy the journey to FIRE . For years, Tae was dead set on achieving his goal of becoming a chief financial officer (CFO) , but as he approached the summit, he realized just how much freedom and control he was giving up. So, he started implementing a plan to quit and pursue entrepreneurship instead! In four years, Tae went from making $0 on YouTube to over $250,000 per year . Today, he and his wife are comfortably coast FI , traveling the world, creating personal finance content, and continuing to save for retirement where they can. Stay tuned as Tae shares how he “reinvented” himself in his late 30s and the moment he realized he had “made it” on YouTube! In This Episode We Cover Why Tae quit the corporate grind right before reaching his lifelong goal Building a financial runway that allows you to pursue entrepreneurship Crucial financial steps to take before leaving your nine-to-five job How to start an online business that gives you financial freedom Why it’s never too late to “reinvent” yourself and design the life YOU want 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 Follow BiggerPockets Money on Instagram “Like” BiggerPockets Money on Facebook BiggerPockets Money YouTube Channel Tae’s YouTube Buy the Book “The Quitter’s Manifesto” Sign Up for the BiggerPockets Money Newsletter Find an Investor-Friendly Agent in Your Area How to Become a “Quiet” Millionaire and Avoid the Financial Guru Trap Connect with Mindy Connect with Carl (00:00) Intro (01:08) Tae’s Money Story (05:57) Quitting Corporate (10:51) “Making” It on YouTube (18:23) Expectations vs. Reality (24:20) Current Income & Expenses (27:58) Design the Life You Want! (30:49) Connect with Tae! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-615 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…

BiggerPockets Money Podcast

1
How the Top 1% Invest (and How Do YOU Compare?) 44:51

17 days ago44:51

44:51

How do the top 1% of Americans invest their money , and how do your investments compare? We’re breaking down the data, showing what the wealthiest Americans are invested in and how to copy their 1% portfolio so you can invest like the ultra-wealthy. To be in the top 1% of Americans, you must have at least eight figures. And while that’s a Fat FIRE number , most of us don’t need tens of millions to retire early. But copying some of the tactics of the top 1% could get you there faster. One thing slingshots average Americans to the top 1% , and even the top 0.1%, but you don’t have to bank on this huge bet to get there. Surprisingly, the top 1% invests in assets that YOU already have access to, not elite-only investment opportunities or massive business deals. They’re invested in FAR more passive assets than you’d think, so you don’t HAVE to build a real estate portfolio to get there. What gives you the best chance of hitting the top 1% in wealth? Maybe you don’t want to go that far—how do you get to the top 10%? Scott and Mindy share a few strategies that could skyrocket your net worth into the tens of millions—if you’re willing to do the work. Plus, they reveal where to park your money once you reach the top. In This Episode We Cover The average net worth of the 1% and the 0.1% in America (less than you’d think) How the 1% invest their money and why they AREN’T heavily invested in real estate The best investment for the chance of breaking into the top 1% The “ middle-class trap ” that the 1% escape, but the upper-middle-class can’t How the top 1% invest now compared to pre-pandemic and pre-2008 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 Follow BiggerPockets Money on Instagram “Like” BiggerPockets Money on Facebook BiggerPockets Money YouTube Channel Fed Assets by Wealth Percentile Group in 2024 Get $100 Off Your Tickets to BPCON2025 in Las Vegas, Nevada Grab “The Millionaire Next Door” Sign Up for the BiggerPockets Money Newsletter Find an Investor-Friendly Agent in Your Area BiggerPockets Money 325 - How to Buy Yourself a 6-Figure Income Stream w/Tim Delaney Fed Assets by Wealth Percentile Group in 2024 (00:00) Intro (01:12) Top 1% Net Worth (08:49) The Top 1% Portfolio (16:05) How Their Investments Evolve (17:40) Cheat Code to 1% Status? (21:12) Average American vs. 1% Investments (29:46) Best Investment to Become 1%? Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-614 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…

BiggerPockets Money Podcast

1
Are You Headed for FIRE or the Middle-Class Trap? (Finance Friday) 55:46

21 days ago55:46

55:46

If there’s an issue that keeps aspiring early retirees up at night, it’s the dreaded middle-class trap . At just 28 years old , this financially savvy couple is already looking for ways to avoid this issue. Whether you’re just starting your FIRE journey or approaching early retirement , we’ll show you how to do the same in today’s episode! Welcome back to the BiggerPockets Money podcast ! So far, Leah and Zach Landis are doing everything right. They earn high incomes , they spend very little , and they invest the difference . Well on their way to retiring early , they plan to quit their jobs by age 45 or sooner! But will their current asset allocation get in the way of their big goal? What kind of bridge will they need to tide them over until traditional retirement age ? Will having children impact their financial freedom ? Fortunately, Leah and Zach have all kinds of options. Tune in as Scott and Mindy dive into the couple’s budget and discuss their best path forward. Along the way, we’ll debate whether they should pause their 401(k) contributions , double down on brokerage accounts , and deploy their cash savings on their “dream” home ! In This Episode We Cover Breaking down Leah and Zach’s best path to FIRE by 45 (or sooner!) The middle-class trap explained and how to avoid (or escape) it The BEST ways to invest your cash and make it work harder for you How much you should expect to pay in taxes once you reach retirement When to stop growing your 401(k) plan (and where to invest instead) 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 Follow BiggerPockets Money on Instagram “Like” BiggerPockets Money on Facebook BiggerPockets Money YouTube Channel BiggerPockets Money 219 - Syndications: Everything You Need to Know BEFORE You Invest Maximize Your Real Estate Investing with a Self-Directed IRA from Equity Trust Get $100 Off Your Tickets to BPCON2025 in Las Vegas, Nevada Buy the Book “Rich Dad Poor Dad” Sign Up for the BiggerPockets Money Newsletter Find an Investor-Friendly Agent in Your Area BiggerPockets Money 456 - The Harsh Reality Real Estate Syndications (and Investors) Face in 2024 Connect with Leah Connect with Zach (00:00) Intro (01:05) Leah & Zach’s Money Journey (08:20) Money Snapshot (12:27) Buying the “Dream” Home (18:33) Best Ways to Invest Cash (26:51) Avoiding the Middle-Class Trap (36:28) Maxing Out the 401(k) & HSA (47:06) Don’t Get Trapped! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-613 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…

BiggerPockets Money Podcast

1
The Tax-Free Retirement Strategy 95% of Americans Don’t Know About 1:06:10

24 days ago1:06:10

1:06:10

The wealthy are using one unique retirement account to build their fortunes tax-free. You may have never heard of it, but knowing about it can change the course of your retirement planning, allowing you to invest in much more than stocks, index funds , and bonds in your retirement accounts. We’re talking about making passive real estate income tax-deferred , flipping houses and sheltering the profits for when you retire, or having a rental property portfolio producing massive passive income , all with the tax benefits of your 401(k), IRA, or Roth IRA. We’re, of course, talking about the self-directed IRA (SDIRA) and the sizable benefits that come with it. To help, John Bowens (Certified IRA Services Professional) from Equity Trust is on the show to share the tax advantages most Americans have zero clue about . Scott starts the interview by coming in hot, throwing out his most significant objections to an SDIRA . We were even surprised by just how many benefits this single account has and how you can use it in ways most people would never assume of a retirement account. We’re talking about how to buy rental properties IN your retirement accounts (and profit from them tax-free/deferred), whether a self-directed IRA or 401(k) makes the most sense for you, the “material participation” rule that you CANNOT afford to break, and how much this account costs to set up. This is a game-changing account for retirees who want to live a rich life, so do not skip out on it! In This Episode We Cover Scott’s biggest objections to the self-directed IRA (is he wrong?) How to get tax-free/deferred passive income from real estate in your retirement accounts The one tax that you MUST know about before investing in an SDIRA Can you get a mortgage for a rental property in an SDIRA ? How much an SDIRA costs to set up and keep going (less than you’d think) 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 Follow BiggerPockets Money on Instagram “Like” BiggerPockets Money on Facebook BiggerPockets Money YouTube Channel How to Access Retirement Funds Early Maximize Your Real Estate Investing with a Self-Directed IRA from Equity Trust Want More Smart Tax Strategies? Grab “The Book on Tax Strategies for the Savvy Real Estate Investor” Sign Up for the BiggerPockets Money Newsletter Find Investor-Friendly Lenders The Self-Directed IRA: What You Should Know About This Wealth-Building Tool Connect with John (00:00) Intro (08:26) Tax-Free Real Estate Gains (16:45) One Tax to Watch Out For (19:59) Self-Directed 401(k)s vs. IRAs (27:36) Making $34,000 Tax-Free! (30:42) The "Material Participation" Risk (35:41) Financing Rentals in an SDIRA (39:40) SDIRA Fees and Costs (50:05) Completely Passive Income (51:56) Active Investing in an SDIRA Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-612 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…

BiggerPockets Money Podcast

1
Scott and Virginia Trench Talk Goal Setting, Spending, Prenups, and Future Plans 43:59

28 days ago43:59

43:59

How has Scott achieved so much financial success already in his early 30s? He’s got a secret weapon nobody else has: Virginia Trench ! That’s right, the woman behind half of the puns you hear on this podcast is coming on the show! She's sharing her view on Scott’s early (and extreme) frugality, massively successful financial planning dates , goal setting as a couple , prenuptial agreements , and the Trenches’ recent decision to sell a solid chunk of their index fund portfolio . Virginia met Scott before he was CEO , before he had a sizable rental portfolio , and before he became one of the internet’s favorite money nerds. Together, they’ve worked hand-in-hand, building a FI lifestyle that fits their family while chasing their own individual dreams, including Virginia becoming a published author with her new book, Our Secrets Were Safe , coming out this summer! In this episode, we peel back the curtain and get a glimpse into how Scott and Virginia run the Trench household and its finances. What’s the one thing they have trouble not spending on? What is their repeatable process for achieving enormous financial goals ? And is Scott secretly the world’s worst/best baker? If you’re a long-time listener, this is an episode you can’t miss! In This Episode We Cover The repeatable money date that Scott and Virginia use to keep their family finances in shape Goal setting as a couple and how to reach seemingly impossible milestones Prenuptial agreements and why Scott and Virginia would recommend one for couples What Virginia thinks about Scott’s recent decision to sell off their index funds The one spending problem that Scott and Virginia both admit they struggle with 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 Follow BiggerPockets Money on Instagram “Like” BiggerPockets Money on Facebook BiggerPockets Money YouTube Channel BiggerPockets Money 301 - Why You’re (Probably) Wrong About Prenups Preorder Virginia’s New Book, “Our Secrets Were Safe” Grab Scott and Mindy’s Book, “First-Time Home Buyer” Sign Up for the BiggerPockets Money Newsletter Find an Investor-Friendly Agent in Your Area BiggerPockets Money 607 - Has the FIRE Formula Changed? Why 100% Index Funds Isn’t the Answer (00:00) Intro (01:47) Super Frugality and FIRE Goals (04:57) Spending and Blind Spots (08:42) Getting a Prenup (12:08) Financial Planning Dates (17:08) Goal Setting 101 (24:57) Scott Goes Coconuts (321:05) Selling Index Funds (35:49) Grab Virginia’s Book! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-611 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…

BiggerPockets Money Podcast

1
Teacher Retires Early at 45 Thanks to Strategic Living (FIRE in Paradise!) 1:00:09

4 weeks ago1:00:09

1:00:09

Teachers aren’t known for their high salaries , so how did this one reach early retirement and FIRE at just 45 years old ? Through “aggressive” saving and smart cost-of-living choices, Amy Minkley was able to quit her demanding international teaching job only three years after finding out about the FIRE movement . Now, she spends her days living in paradise and hosting “ FI Freedom Retreats ” once or twice a year for like-minded FIRE-chasers. To reach FIRE in your 40s , you must make some strategic moves like Amy. Thankfully, you don’t need to make six figures to retire early in 2025. Throughout Amy’s career, she never entered the “high income” threshold but could still save aggressively, thanks to the perks of teaching at international schools. We’re talking free rent, subsidized travel, and plenty of paid vacation. But it wasn’t always the dream life that it sounds like. Amy had constant stress and was routinely feeling burned out , forcing her to take multiple sabbaticals , change where she lived, and deal with some of the money trauma that had plagued her past. Now, she’s FIRE, thriving, and living entirely on her terms. You can (and should) do it, too! In This Episode We Cover How to reach FIRE in your 40s even if you feel like it’s too “late” for you Why teachers should look into teaching abroad to save a significant portion of their income Investing from abroad and what to do when you have little-to-no social security contributions How much cash you should keep on hand when you’re ready to retire early Living off the three percent rule (instead of the traditional four percent rule ) by moving to low-cost-of-living areas Why you must take a sabbatical at least once in your working career 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 Follow BiggerPockets Money on Instagram “Like” BiggerPockets Money on Facebook BiggerPockets Money YouTube Channel Save $100 on Real Estate’s Biggest Event of the Year, BPCon2025 Reach FIRE Faster with "Set for Life" Sign Up for the BiggerPockets Money Newsletter Find an Investor-Friendly Agent in Your Area From Making $40K/Year as a Teacher to Reaching FI in 4 Years by Doing THIS Connect with Amy Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-610 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…

BiggerPockets Money Podcast

1
Finance Friday: Chasing FIRE by 35 WHILE Supporting Extra Family Members 1:07:27

5 weeks ago1:07:27

1:07:27

Is something stopping your FIRE ? Today’s guest wants to retire early at 35 , but with a shaky budget , extra expenses , and a problematic rental property , her path to early retirement isn’t clear. In today’s episode, we’ll break down her finances and help her get back on track ! Welcome back to the BiggerPockets Money podcast ! Sarah earns a great salary and diligently saves for retirement each month. You’d think she’s on pace to leave her W2 job in a few years, but there’s one problem—she has more expenses than the average person. Financially responsible for two extra family members, Sarah pays for their mortgage , food , and lifestyle , all while covering her own expenses! Does Sarah’s financial situation need a major shake-up? Tune in as Scott and Mindy debate whether it’s time for Sarah to part with a property that’s bleeding money , strategize about when to put it on the market , and discuss what to do with the money from the sale. We’ll also touch on the tough conversations Sarah needs to have with family members if she wants to achieve her retirement goal ! In This Episode We Cover The three things Sarah must do to achieve her goal of FIRE by 35 How to reach your financial goals despite extra expenses What to do with a rental property that has negative cash flow The BEST time to put an investment property on the market How to budget for future children ( family planning 101 !) 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 Follow BiggerPockets Money on Instagram “Like” BiggerPockets Money on Facebook BiggerPockets Money YouTube Channel Find Investor-friendly Tax and Financial Experts Maximize Your Real Estate Investing with a Self-Directed IRA from Equity Trust Achieve FIRE with Scott’s Book, “Set for Life” Sign Up for the BiggerPockets Money Newsletter Find an Investor-Friendly Agent in Your Area BiggerPockets Money 12 – How to Become an “Overnight” Success in 10 Short Years with David Greene Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-609 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…

BiggerPockets Money Podcast

1
CPA Shares Tax Tips to Lower Your 2024 (Yes, 2024) Taxes 47:48

5 weeks ago47:48