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Hello, hello, hello, and welcome to the BiggerPockets Money Newsletter!

Did you know that BiggerPockets Money is on YouTube? You can subscribe to our channel here.

This week, we'll jump into:

—Mindy Jensen, host of the BiggerPockets Money podcast

P.S. BPCON2025 is October 5-7 in Las Vegas! Join us for a Finance-Focused track! Get your tickets

POCKET CHANGE

Bitcoin Hits an All-New High $109,760.08

Bitcoin—that "investment" that I love to hate—hit an all-time high of $109,760.08 on May 21, 2025.

And I STILL don't feel like I'm missing out.

If you're a Bitcoin "investor," I'm super happy for you. I also want to make sure you're aware of the tax implications.

You're paying capital gains taxes when you sell or spend it at a higher rate than when you purchased. And it's considered property, not currency, for the purposes of taxation. 

MY FAVORITE BLOG ARTICLE

America’s Credit Rating Downgraded—And Why It’s Another Headwind For Housing

The U.S. just lost its last pristine credit rating. Last Friday, Moody’s Ratings downgraded America’s sovereign credit from Aaa to Aa1, citing political dysfunction and soaring deficits.

By Monday morning, markets reacted: Treasury yields jumped, with the 10-year note hitting 4.5% and 30-year bills crossing 5%, while stocks slid and mortgage rates crept back toward 7%.

With all three major rating firms now in agreement, the U.S. is now a solid 3.9 GPA student.

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SCOTT'S THOUGHTS

Diversification is Great—But Can Be Difficult to Move Toward

Early in your financial journey, go all-in on a concentrated portfolio; pour your energy into high-yield plays like real estate or select investments, where you can outwork and outsmart the market.

This aggressive mindset, laser-focused on maximizing long-term net worth, is how you build wealth fast. But as you approach financial independence, you need a hard pivot.

Shifting to a diversified portfolio—spreading investments across stocks, bonds, and stable properties—requires a tough mental leap. After years of chasing growth, protecting what you’ve built feels unnatural, even counterintuitive.

Embrace the discipline to prioritize stability over speculation to safeguard your future.

THIS WEEK ON MONEY

Taxes in FIRE and Big ERN!

Your tax obligation after you have retired has been a topic of discussion recently on the show, and listener Mark Livingstone reached out to share the math behind the taxes—complete with charts that make this episode a must-watch video. Check out the episode on YouTube here.

Then we finally had Big ERN on to talk about his Safe Withdrawal Series (currently up to 61 parts!) and he did NOT disappoint!

Catch the whole episode here.

No Hype. No Fluff. Just Deals and a FREE Workshop.

BPCON2025 isn’t some motivational hype fest. It’s 3 days of real strategies from investors who are still buying, still winning, and still showing up—no matter what the market’s doing. Chris Voss? He’s in. Sales pitches? Not invited.

Snag your ticket by June 15 and we’ll throw in a $300 expert-led workshop on the house.

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