Link to the Show: 016 – Financial Security Through Passive Income with Joel Larsgaard of How to Money.
I started listening to the Bigger Pockets Money Podcast towards the beginning of 2020. I listened to this episode again on Monday June 29, 2020 and wrote up my notes.
The focus of creating this article is to track my thoughts and reviews of each episode. My memory sucks so having a place on this blog to keep my notes was perfect.
Highlights
I like to listen to the full episode and then write what sticks out for me. There is always a lot of useful information and discussion that occurs during the show, but the following bullet points are what sticks out for me.
- New feature of the podcast. A money tip. Begin tracking your spending. Mint and Personal Capital are what Scott uses.
- Joel’s parents went through bankruptcy at an early age. This impacted his financial life.
- Went to school for communication. Joel recommends being happy in your job of you have one.
- Buy a house with 3 or 4 percent, bring in a room mate, buy another home in two years. House hacking or roommate situation to reduce your housing cost.
- Joel is married and has two kids.
- Drove a car cross country with his friends for three months.
- Currently rents out the back of his house to a friend, this reduces their mortgage and housing expenses.
Famous 4
Question: What is your favorite finance book:
Answer: Beyond Wealth, Alexander Green
Question: What is the biggest mistake money/finance?
Answer: A lot of little mistakes, one example is he would buy things simply because they were on sale or it was a deal.
Question: What is your best piece of advise just starting out?
Answer: You can save money, no matter how much you make.
Question: What is your favorite joke to tell at parties?
Answer: No joke, but Scott has one. What did Buddha say to the hot dog vendor? Make me one with everything. The hot dog vendor responded, sure but change must come from within.
Review
Has a podcast himself that he and his friend run. He seems very down to earth and friendly. Does not have lofty goals, just wants to live simply and have an easy life.
Purchased real estate in the booming Atlanta, GA real estate market.
This is the first episode to Bigger Pockets offered their Money Tip of the day.