Most people are familiar with Airbnb, the site that lets owners rent out a room or an entire home to travelers. Airbnb has become such a hit that many people use it exclusively when traveling for pleasure, work, or any other reason. Goodbye cramped hotel room, hello fully furnished house! And Airbnb isn’t just a hit with those renting a place to stay. Airbnb is the most profitable way to make money in the gig economy. What it did show was that 85% of gig economy workers make less than $500 per month. But, Airbnb hosts, on average, make more than any other gig workers and are raking in an avera ..read more

The whole reason LMM started was to give as many people as we could reach free financial help. And in the past seven years, we’ve done that. We know because we get emails daily from people telling us that the show has helped them. We have dozens of shows and hundreds of articles that give free financial help to anyone who finds us. But not everyone can find us. There are millions of people who have no idea what a podcast even is. And because LMM is a podcast and a website, we are naturally limited to what we can do to help people. Most of what say and write is broad and general, meant to help ..read more

If you run your own business, you go to great lengths to make sure that your business is a profitable one. Both Andrew and Matt run their own businesses. They regularly go over their accounting to see if the businesses are spending too much money and if they are, where? Do the profit margins need to be increased? How much money is being held in reserve in case of a period of lower cash flow? But how many of us do these things and ask these questions when it comes to our personal finances? We watch every penny going into and out of the business’s bank accounts but we’re much more cavalier about ..read more

We love getting listener questions and we’ve had a lot recently so it’s time for 5 awesome questions from you. We’ll cover bond ETFs, the books we love, transitioning investments, long term investing, and retirement planning. Thanks, Everyone! We really appreciate your questions. After nearly seven years of episodes, we sometimes feel like we've covered everything but you all always throw something new at us. And if you're wondering about it, lots of other listeners are too. That's why we do these 5 questions episodes, so we can address your questions to a wider audience. Keep them coming! Sho ..read more

Today we’re taking a look at how the Golden Butterfly has performed in the recent market correction compared to other investment strategies. We will be looking at The Golden Butterfly, The All Weather Portfolio; and Vanguard’s Total Stock Index and we’re going to compare each portfolio by pretending you had $100,000 perfectly allocated in each strategy as of October 2, 2019 (before COVID-19) and compare it to the portfolio’s value as of April 1, 2020 (6 months later). Show Notes Rental Properties for Passive Investors- An LMM course on our proven, data-driven approach to building a portfolio o ..read more

Accordingly to the Fidelity Millionaire Outlook Survey, 86% of millionaires are self-made. Even more remarkable, 78% of them started out as middle class or poor. Only 22% grew up in the upper class. That means that the vast majority of millionaires built their wealth the old fashioned way: hard work, consistent saving and investing in the long-term. We’ll explain why rich people are cheap and how you can adopt their simple habits to become a millionaire yourself. Show Notes Warren Buffett Documentary HBO Honey MrBeast Spending 1,000,000 in 24 Hours Learn more about your ad choices. Visit mega ..read more

We get dozens of emails from listeners each week asking really thoughtful financial questions. When a question needs a detailed answer or might be helpful to others, we turn it into part of a 5 questions episode. Today we have 5 questions about buying a timeshare, the Lending Club strategy, f**k you money, buying a rental property, and what to do with a million-dollar inheritance. Full Article Here Show Notes Cape May City To Shore: A Double IPA Thick Blueberry Goo: A smoothy style Berliner Weiss. Learn more about your ad choices. Visit megaphone.fm/adchoices ..read more

The FIRE movement has carved out a big niche in the personal finance space. FIRE stands for Financial Independence, Retire Early but if you quit traditional work in your 30s or 40s, what will the rest of your life look like? Three or more decades is a lot of time to fill and sitting on the porch in a rocking chair or playing golf aren't going to be enough to fill it. The 30s to 60s can be the prime of life. We're still filled with energy, ideas, and ambitions. Full Article Here Show Notes Apricot Compote: A Sour from Evil Twin Brewing. The Frugal Engineers: Kim and her husband's site.   L ..read more

We talk a lot about making sure your portfolio is diverse enough to insulate your investments from risk. But if you want to ramp up returns, consider diversifying your retirement with alternative assets. How can you do that? A Self Directed IRA is one of the most powerful tools in your retirement arsenal. Alternative investments can improve your chances of retiring with enough money. Full Article Here Show Notes Apricot Compote Sour: A refreshing summer beer from Evil Twin. Alto: The Alto platform provides users with a simple interface to set up, invest with, and manage a diversified portfolio ..read more

In its ongoing quest for world domination, Facebook is set to launch a cryptocurrency called Libra. And a digital wallet to store those Libra called Calibra. Given the company's somewhat shady privacy practices, would you trust Facebook with your money? Full Article Here Show Notes Passion Pool from Mikkeller and Friends: A gose. Craft Lager from Upslope Brewing Company: An American style lager. Learn more about your ad choices. Visit megaphone.fm/adchoices ..read more