290: Finance FAQs: Renting vs. Buying, How to Pay Off Debt, & Creative Real Estate Closings

BiggerPockets Money Podcast

BiggerPockets

Education, Investing, Business

4.5 • 3K Ratings

🗓️ 8 April 2022

⏱️ 59 minutes

🔗️ Recording | iTunes | RSS

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Summary

Renting vs. buying a home, debt payoff, and the best investments of 2022 are just a few of the topics discussed in this week’s Finance FAQs. That’s right, we’re here with a new segment where Scott and Mindy take your questions directly from the BiggerPockets Money Facebook group and give answers so you can make smarter investing, saving, and life-changing decisions. In this episode, we get into questions from a range of different financial situations. We have questions about debt payoff schedules, whether to sell stocks and invest in real estate, why “safe” investing may not be smart investing, and what to do when three-quarters of a million dollars are given to you. Scott and Mindy not only answer these questions the best they can, but they also give the “why” behind the financial decision so you can be better equipped when situations like this come up in your own life! If you want to ask a question or give us feedback about this new format, you can do so on the BiggerPockets Money Facebook Group or leave a comment on the BiggerPockets Money YouTube channel. We’ll try and round up the most commonly asked questions so Scott and Mindy can keep the wealth-building wisdom coming! In This Episode We Cover The safest investment vehicle in 2022 (and why safest doesn’t always mean best) Whether to pay off student loans or invest in retirement and real estate Which debt to pay off first so you can coast to debt-free freedom Renting vs. buying in today’s hot housing market and how to decide for yourself Funding home renovation projects (even when contractor costs are high!) House hacking and using it to lower your expenses, grow net worth, and build financial runway And So Much More! Links from the Show BiggerPockets Money Facebook Group BiggerPockets Forums Finance Review Guest Onboarding Scott's Instagram Mindy's Twitter Apply to Be a Guest on The Money Show Podcast Talent Search! Follow Along Mindy’s Live Budget Tracking BiggerPockets Money Podcast 35 with Craig Curelop (House Hacking) BiggerPockets Money Podcast 267 with Robert Farrington (Student Loans) Does It Make More Sense to Rent or Buy in Today’s Real Estate Market? A Beginners Guide to Hack Your Housing and Live for Free Pay Off Debt or Invest? Check the full show notes here: https://www.biggerpockets.com/blog/money-290 Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Welcome to the bigger pockets money podcast show number two hundred and ninety a different kind
0:04.4	of finance Friday edition. We're Scott and I answer your questions direct from our Facebook group.
0:10.6	Personal finances personal and if you can live with having eighty one thousand dollars in debt
0:16.4	while you are choosing to pay the minimums and investing other ways or paying slightly above
0:22.3	the minimums and growing your liquid savings account, then do that. But if it is weighing on you
0:27.8	and making it so you can't even sleep at night because you have this massive student loan
0:32.7	debt that you are just feeling is crushing your soul, then pay them down as much as possible
0:38.9	because your health, your well-being, your mental state is what's most important here.
0:45.5	Hello, hello, hello. My name is Mindy Jensen and with me as always is my luminous cohosts.
0:49.6	Scott trench. Thank you for such a glowing introduction Mindy. Always appreciate it.
0:54.0	Scott and I are here to make financial independence less scary, less just for somebody else
0:59.6	to introduce you to every money story because we truly believe financial freedom is
1:03.5	attainable for everyone no matter when or where you're starting.
1:07.1	That's right whether you want to retire early and travel the world going to make big-time
1:10.1	investments in assets like real estate, start your own business or just get some frameworks to
1:14.3	help make basic background decisions that affect your overall financial portfolio. We'll help you
1:19.6	reach your financial goals and get money out of the way so you can launch yourself towards those dreams.
1:32.4	Today Scott and I are looking at the questions you have been asking us in our Facebook group.
1:37.2	If you're not a member of our Facebook group you can join at facebook.com slash groups slash
1:42.2	BP money and have delightful money conversations with your fellow frugal freaks or money nerds
1:47.1	or discuss spreadsheets with those who truly love the spreadsheet game like Scott and all the
1:52.4	rest of you in our group. But there are some common threads that have been requested and asked
	...

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