Scott and Virginia Trench Talk Goal Setting, Spending, Prenups, and Future Plans

BiggerPockets Money Podcast

BiggerPockets

Investing, Education, Business

4.6 • 2.9K Ratings

🗓️ 28 February 2025

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

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Summary

How has Scott achieved so much financial success already in his early 30s? He’s got a secret weapon nobody else has: Virginia Trench! That’s right, the woman behind half of the puns you hear on this podcast is coming on the show! She's sharing her view on Scott’s early (and extreme) frugality, massively successful financial planning dates, goal setting as a couple, prenuptial agreements, and the Trenches’ recent decision to sell a solid chunk of their index fund portfolio. Virginia met Scott before he was CEO, before he had a sizable rental portfolio, and before he became one of the internet’s favorite money nerds. Together, they’ve worked hand-in-hand, building a FI lifestyle that fits their family while chasing their own individual dreams, including Virginia becoming a published author with her new book, Our Secrets Were Safe, coming out this summer! In this episode, we peel back the curtain and get a glimpse into how Scott and Virginia run the Trench household and its finances. What’s the one thing they have trouble not spending on? What is their repeatable process for achieving enormous financial goals? And is Scott secretly the world’s worst/best baker? If you’re a long-time listener, this is an episode you can’t miss! In This Episode We Cover The repeatable money date that Scott and Virginia use to keep their family finances in shape Goal setting as a couple and how to reach seemingly impossible milestones Prenuptial agreements and why Scott and Virginia would recommend one for couples What Virginia thinks about Scott’s recent decision to sell off their index funds The one spending problem that Scott and Virginia both admit they struggle with And So Much More! Links from the Show Mindy on BiggerPockets Scott on BiggerPockets Listen to All Your Favorite BiggerPockets Podcasts in One Place Join BiggerPockets for FREE Email Mindy: [email protected] Email Scott: [email protected] BiggerPockets Money Facebook Group Follow BiggerPockets Money on Instagram “Like” BiggerPockets Money on Facebook BiggerPockets Money YouTube Channel BiggerPockets Money 301 - Why You’re (Probably) Wrong About Prenups Preorder Virginia’s New Book, “Our Secrets Were Safe” Grab Scott and Mindy’s Book, “First-Time Home Buyer” Sign Up for the BiggerPockets Money Newsletter Find an Investor-Friendly Agent in Your Area BiggerPockets Money 607 - Has the FIRE Formula Changed? Why 100% Index Funds Isn’t the Answer (00:00) Intro (01:47) Super Frugality and FIRE Goals (04:57) Spending and Blind Spots (08:42) Getting a Prenup (12:08) Financial Planning Dates (17:08) Goal Setting 101 (24:57) Scott Goes Coconuts (321:05) Selling Index Funds (35:49) Grab Virginia’s Book! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-611 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Ever wonder what Scott's duplex in his 20s was like?
0:03.9	Or how frugal he really was?
0:06.2	Well, today we are bringing on an expert and pivotal player in Scott's life and Scott's
0:11.6	Fye journey, his wife, Virginia Trench.
0:14.4	I am so excited to talk with both Virginia and Scott about how their money story has evolved
0:20.2	over time.
0:26.5	Hello, hello, hello, and welcome to the Bigger Pockets Money podcast.
0:29.7	My name is Mindy Jensen, and with me as always is my co-host, Mr. Virginia Trench.
0:35.1	That's right, Mindy.
0:35.8	Super excited to be on Bigger Pockets Money today with my lovely, wonderful wife, Virginia here.
0:41.7	And Virginia is actually going to take it from here with the rest of the intro.
0:45.2	Bigger Pockets has a goal of creating 1 million millionaires.
0:48.6	You are in the right place if you want to get your financial house in order,
0:51.9	because we truly believe financial freedom is
0:54.2	attainable for everyone no matter when or where you are starting.
0:58.0	Virginia, I am so excited that you are joining us today. Welcome to the show.
1:04.3	Thanks, Mindy. It's great to be here. I've been entrenched in this guy's life for almost 10 years.
1:10.2	She has better puns than me. And many times,
1:13.3	the puns that we use on the show have actually originated from Virginia without due
1:17.8	accreditation. Yeah, due citation. Well, let it slide. And hello to Fred, the cat behind you,
1:23.3	who is apparently going to horn in on your show today, Virginia. So Fred, pipe down.
1:30.2	Our daughter is at school, but we have Fred, Virginia, and our little one on the way here as well.
	...

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