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BiggerPockets Money Podcast

397: Estate Planning, Wills, and What to Do NOW to Protect Your Heirs

BiggerPockets Money Podcast

BiggerPockets

Investing, Education, Business

4.62.9K Ratings

🗓️ 31 March 2023

⏱️ 42 minutes

🧾️ Download transcript

Summary

Financial freedom allows you to do what you want, when you want, and with who you want. But it’s not just for lounging in hammocks or jet-setting around the world. When tragedy strikes, a sudden loss occurs, and you need time to spend with your family, friends, and loved ones, financial freedom becomes the bedrock of what helps you recover. This is why the option to retire early is so crucial for the everyday American; you never know when you’ll need to take some time for yourself. Jordan Klint, former guest on episode sixty-three, achieved financial freedom at a surprisingly young age, with five children to boot! His time freedom and ability to live on his terms was an added bonus the last time we talked to him, but now, we understand that it was necessary for Jordan to keep sane during the past year. Jordan’s family went through a significant tragedy, resulting in the loss of not one but multiple relatives all at once. This was an incredibly hard time for Jordan and his family but has allowed him to reflect on what FIRE-chasers need to do to ensure their families are protected when they pass. While this episode does bring up some difficult points, it’s full of extremely useful tips that Jordan used to get his family’s finances together. We get into estate planning, why you need a will, life insurance, car insurance, and the “emergency binder” that EVERYONE should have. Don’t wait until the unexpected happens. If you’re building wealth, you NEED to put these plans in place. In This Episode We Cover Estate planning 101 and why trusts, wills, and other documents can protect your family’s wealth Self-care, mental health, and why investing in your friends is so important Life insurance and why buying a policy is crucial for family members who rely on you Financial planners and how to use their expertise to help you structure an after-passing plan Early retirement and how Jordan was able to take time to recover and recharge Jordan’s post-retirement portfolio and how he’s spending his days after reaching financial freedom And So Much More! Links from the Show BiggerPockets Money Facebook Group BiggerPockets Forums Finance Review Guest Onboarding Mindy's Twitter Listen to All Your Favorite BiggerPockets Podcasts in One Place Apply to Be a Guest on The Money Show Podcast Talent Search! Subscribe to The “On The Market” YouTube Channel Listen to The “On The Market” Podcast: Spotify, Apple Podcasts, BiggerPockets Check Out Mindy’s 2022 Live Spending Tracker and Budget Money Moment Hear Our Last Episode with Jordan Everything You Need to Know BEFORE You Invest in Syndications Grab the “Emergency Binder” Click here to check the full show notes: https://www.biggerpockets.com/blog/money-397 Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Let us know! 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 where we catch up with Jordan Clint from episode 63 and discuss life

0:06.3

Death and how to combine living for the moment with financial independence. Hello. Hello. Hello. My name is Mindy Jensen

0:12.5

And with me as always is my supportive co-host Scott Judge. Thanks so much Mindy. Great to be here

0:17.2

Scott and I are here to make financial independence less scary less just for somebody else to introduce you to every money story

0:23.8

Because we truly believe financial freedom is attainable for everyone no matter when or where you're starting

0:29.1

That's right whether you want to retire early and travel the world go on to make big-time investments and assets like real estate

0:33.8

start your own business or

0:36.1

Deal with tragedy and

0:38.1

Planning for the passing of loved ones of yourself will help you reach your financial goals and get money out of the way

0:43.4

So you can launch yourself towards your dreams. Scott

0:45.9

We are checking back in with Jordan Clint. I'm sorry

0:50.5

Dr. Jordan Clint from episode 63 where he originally started with us about having

0:57.4

Five kids and still being able to reach financial independence

1:01.6

Today's episode is a little bit different after he joined us on that show

1:06.6

His life took a big take took a big turn and today we're talking about what's happened since Jordan has

1:14.8

Really kind of experienced some tough times and we he was very

1:19.7

Brave and transparent to come on and talk about those things today. It's a very powerful episode

1:24.0

And we're very grateful to him. I think we'll learn a lot, but it will be a tough one

1:28.3

And just just if you'd like to connect with Jordan to learn more about him

1:32.2

You can find him on Twitter at at J.R. Clint before we bring in Jordan. Let's take a quick break

1:37.8

And we're back Jordan Clint last joined us on episode 63 where he shared his journey to financial independence

1:44.6

at age 33 with five kids

...

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