Watching his parents lose everything in bankruptcy at 12 flipped Joel Larsgaard's entire relationship with money—but not in the way you'd expect. Instead of pursuing high-paying work, he chose passion over paychecks, earning in the low $20Ks while building a five-property rental portfolio through sheer hustle and extreme frugality. Joel shares how witnessing financial collapse taught him to prepare for uncertainty, why he combined side gigs like pressure washing with aggressive saving, and how house hacking multifamily properties became his path to passive income on a teacher's salary. He opens up about shifting from a scarcity mindset to using money as a tool for growth and generosity. Key Topics Joel's Early Money Memories [00:02:26] Experience of family bankruptcy at age 12; the long-term impact on his view towards money. Frugality and Side Hustles [00:07:04] Transitioning to a frugal lifestyle; saving for a car; using side hustles to supplement income. Real Estate Investing Journey [00:13:41] The importance of smart investments in real estate; acquiring properties on a low income. Choosing the Right Properties [00:26:28] Guidelines for evaluating potential real estate investments; applying the 1% rule. Hot Seat Segment [00:39:07] Rapid-fire questions covering personal finance, lessons learned, and financial recommendations. Key Insights "Prepare for the unexpected job loss." [00:06:09] "Stay conscious of your spending habits for savings." [00:10:33] "Frugality is a powerful tool in your financial journey." [00:14:06] "Consider multifamily investments to build wealth." [00:32:19] "Use money wisely to invest and help others." [00:34:13] Resources How to Money Podcast [00:45:06]