A super short show this week while both OG and Joe are out of town. We discuss a recent study of the VIX which seems to indicate that as volatility reaches a climax, markets bounce back....is it true? Also, PK reviews how sector funds work. We give something away AND review two more films. Enjoy!
Show notes, as always, are available at StackingBenjamins.com/10
What's the biggest key to maximizing returns? Just like in the movie The Big Short, Gianni Kovasevic asserts that you follow tomorrow's news. He's the author of My Electrician Drives a Porche? and also embarks this week on a North American tour in a Tesla. We'll share why on the show!
Of course, that's not all. We share headlines about an exciting new movie theater app, scary news from Norway and some understandable Kickstarter ugliness. We take a Quotacy hotline call from Lauren about an unpaid internship, and letters from Matt and Dan about the value of wealth and tweaking interest rates on short term investments.
Today we tackle last week's horrible--and then later not so horrible--market. We'll discuss making smart moves, avoiding panic, rational decisions, diversification, avoiding biases (like the market will always go down or the market is going to turn around soon) and more.
H. Luke Landes from the Plutus Foundation and Plutus Awards joins Paula Pant and Len Penzo on Joe's dad's shortwave chat. OG discusses avoiding looking at your 401k. Doug has trivia....and much more!
Live from the floor of Podcast Movement 2015: two roundtables with some of the top podcasters in the personal finance space: J. David Stein, James Kinson, Miranda Marquit, Steve Stewart, Roger Whitney and Phillip Taylor join us around the microphone to talk podcasting and personal finance trends. It was good to get out of the basement!
Also, as an additional bonus, our super fan Cece flew from Boston to Fort Worth to hang out with us at the conference. How did she like it? What's she learning? We talked to Cece about her financial situation and more.
Not sure how to use your retirement plan well? Jason Hull explains some of the best (and worst) ways people use their 401k AND unveils for SB listeners his new financial planning tool.
Joe & OG not only tackle headlines about another politician who might not be handling money well....they answer a listener letter about hiring a financial advisor. What are the keys to know?
There's lots more, including PK from DQYDJ.net, back with an explanation of "accredited investor." What the heck does that mean? You'll find out.
Pete Dunn, AKA Pete the Planner, joins Greg and Len today to talk about high rent payments, rigged company reports and gourmet dog food. How do you make ends meet when 30 percent of your money has to go to your landlord? How do you pick stocks when company CFOs admit they're "massaging" the numbers? How do you control your budget when your dog eats better food than you?
That's not all, though. We answer your letters about bad 401k plans and purchasing exchange traded funds AND review the new hit film Mission Impossible.
Thias from ItPaysDividends.com is back for another round (he MUST be a big fan of basements). We discuss commodities. They're at WAY low prices. Does that mean it's time to buy? Thias, Greg and Paula will weigh in on that. They'll also talk about car dealers and some of the top tricks they'll get to take more money from your wallet.
Joe & OG answer a listener letter about bonds. Should you sit in cash and wait for what looks like the inevitable bond price drop? We also have headlines, review the Netflix film Haute Cuisine and more!
Mike Melissinos was the brand new kid on Wall Street when the bottom fell out. Not only was he on the scene...he was at Bear Sterns, one of the first big "dominos" in the ugly Wall Street fall. How did he get the job on Wall Street? What was it like working the daily trading desk grind, and what was it like being on the scene when he found out Bear Stearns was going under? We'll find out today.
We'll also tackle Mike's trading today, heading us the Melissinos fund. How does it work? What is "trend following"? How does he manage risk?
--As a bonus, at the end of today's show, we'll do something rare....talk about how the podcast sausage gets made. Joe just returned from the Podcast Movement conference, and that's a good opportunity to talk about the state of the show and where Stacking Benjamins is headed in the future.
By popular demand, the Top 5 is back! Today we tackle the Top 5 Dumbest Rules of Thumb. While rules of thumb are a great place to start, some are better than others. To advisors and former financial advisors (like us) SOME rules of thumb are like finger nails on a chalkboard. What are the worst offenders? We'll list them today.
In the headlines, another company decides to throw their roboadvisor offering in the ring. Who is it? What can we expect?
We answer a listener question about higher interest savings AND OG talks about his favorite new business-based television shows.
"The Donald" just revealed his stock picks. In our headlines, a reporter dug into the numbers to see if Donald Trump's claims of "excellence" are maybe a hair over-exaggerated. We'll find out.
Thias Shefchik from the new finance blog ItPaysDividends.com joins Greg McFarlane and Paula Pant on today's roundtable. They tackle a listener question about 1031 exchanges, an article on baseline knowledge you need to know for retirement, and more!
Joe & OG answer two great listener questions.
We review the film Ant Man. Is it another Marvel winner or just another stupid superhero? We'll give you our .02.
As if that weren't enough, we throw in Doug's trivia and much much more.
Professional wrestler, author and blogger Martin Dasko joins us to talk about getting your financial act together. Feel like you're not financially savvy? Want to do better with your money? He's written a book called The Next Round's On Me, and shares lessons with people in their 20's on today's podcast.
According to a recent Fidelity Investments study, you might not be the great communicator about money you think you are. Surprised? John Sweeney from Fidelity Investments joins us to talk about their findings and to tell you how to have been money chats with your spouse, significant other, or planning friends.
Joe & OG tackle a recent court case headline. Citigroup stock dropped and was sued because the 401k included company stock...and employees lost money. Should Citigroup be held responsible?
Suzanne Lucas, the Evil HR Lady, is back with a great segment on what to do if you work for a company with NO HR department and have a problem.
Joe & OG answer a great listener question from Justin about Target Date Funds. Why haven't we given them any love? We'll explain.
We review the latest season of Downton Abbey. Is this a series you should get invested in?
As if that weren't enough, we throw in Doug's trivia and much much more.
Here's some Friday motivation....Adrienne Dorison pressed the "reset button." She paid off a TON of debt in six months, quit her job and launched a new business. Excited? So were we when we heard about Adrienne, and we hadn't even talked to her yet. ...this is a really fun, inspirational interview.
Now she's launching the School of Self Mastery podcast, has an online course, and more. Enjoy!
Today the star of the show is YOU! You ask us about 401k restrictions, retirement plan loans AND the importance of life insurance...and we deliver the goods. I'll also warn you--OG's on fire today. Seriously rare form.
Plus PK is back in the basement to talk about active vs. passive investing. Everyone's seen that passive wins, but is it by enough to make a material difference?
As if that weren't enough, today's headline covers investor's scary move from bonds to individual sectors to find safety. Our thought? They're probably finding more volatility. We also review the film The Way Back.
Today we turn to advice on EARNING more money. Super blogger Donna Freedman joins us to tackle a tough subject...burnout. Writing is a high burnout job, but so are many 9-5 jobs. No matter your career, you've probably lost interest at some point.
So how do you keep going? What are the strategies she's used successfully to consistently write successful stories? We'll find out!
Writers can check out Donna's course at WriteABlogPeopleWantToRead.com. The coupon code is at StackingBenjamins.com/donna.
Today the star of the show is YOU! You ask us about market timing, diversification and risk...and we deliver the goods.
Plus PK is back in the basement to argue with Joe about emergency funds. When is it the right time to save into your emergency fund? Is it best to save BEFORE you pay down debt or AFTER? PK says AFTER and Joe says BEFORE....you'll hear the epic debate on today's show!
As if that weren't enough, today's headline is about China's recent move to regulate their stock market volatility. Is that good or bad for investors? We also review the film Focus with Will Smith and Margo Robbie.
AND we're BACK!
JUST before the break we asked OG what he thought about bank stocks. Does our roundtable gang feel the same? We ask Len, Paula and special guest Valerie Rind from Golddiggers and Deadbeat Dads. Also, who's using finance apps? What type of app is each group using more of?
Joe & OG discuss the end of pit trading and take your letters. Why do advisors recommend US stocks over international positions? Is that because they're based in the USA and they're biased?
That, our review of the new Terminator movie and much more on today's show!
Jen Smialek traveled around the world for $5,000. The perfect summer episode? If you can't get out of town, we'll take you on the journey with Jen as she tells us about her favorite places to visit.
We go WAY back in the time machine to our FIRST 2 Guys & Your Money show, where we share our top 5 moves to make in a volatile market. This episode might be a little painful to listen to, but for long time listeners who've never heard the "early days" episodes....this should be a treat.
What's better than a retirement plan at work? How about a low cost retirement plan with exchange traded funds? Haven't heard of that before? Neither had we.
Michael Beck, Executive VP at Dallas-based Gerald L Ray & Associates, joins us in the basement to talk 401k plans, exchange traded funds, how they made it low cost AND how it'll affect your financial plan.
Let's step away from stock, bonds and real estate this week. Is owning a franchise a good investment? How much can you earn? How much money does it take to open a franchise? What's the time commitment? Who SHOULD be a franchisee and who is the WRONG person? We speak today with Eric Ersher, CEO of Zoup!, a soup, salad and sandwich franchise with 75 locations across the northern half of the United States and Canada.
Plus, the Evil HR Lady, Suzanne Lucas is back with advice on dress codes. Does dress code matter any more at work? You'll be surprised by the opinion of our HR pro. Finally, we review the movie Dope, which was HUGE at the Sundance Film Festival this year. Do Joe & OG agree with the early ovations? We'll fill you in.
Recently Greece defaulted on a debt payment. Over the weekend the country turned down an EU bailout. While we recorded this podast BEFORE that vote this weekend...this episode applies to all the events that happened this weekend. We share good advice from OG, Paula Pant (AffordAnything) and from Rob Aeschbach (The Military Financial Planner) on the stock market, picking stocks, and investing in general.
We spend a TON of time today on reader letters. Dale wasn't excited about our permanent life insurance conversation a few weeks ago and wanted clarification. Josh sells long term care insurance and sent us a quote that was less expensive than the the policy costs we shared on a recent show. Interested in insurance? We've got you covered. Lost by all of the insurance discussions that start with "Everybody should have...."? We've got you covered, too.
Finally, Joe reviews the new Amazon show Catastrophe.
Does that sound like enough craziness? It's just another Monday here at Stacking Benjamins!
Max Nomad works with companies to save them from zombies....computers that've been hacked to turn your computers into MORE zombies churning out spam and malware. On today's show he's going to save us from the apocalypse. What schemes do hackers use to grab your data? What anti-virus programs work best? How do you recover work that's been accidentally deleted? We'll talk about these topics and more on today's show.
Time management secrets are front and center today as Laura Vanderkam returns to the basement to discuss how successful women juggle so many critical tasks. Her new book, I Know How She Does It, discusses strategies for people who want to work fewer hours, people who want to work more, AND people who want more family time. How can you have it all? Laura has some surprising answers and analogies (involving strawberries, LEGOs and murals) on today's show!
Plus, the Evil HR Lady, Suzanne Lucas has some advice for people starting a new job AND wanting to take vacation this summer. How do you have both? She'll explain. Joe & OG have headlines about tech firms and banking....who do you trust more....and new legislation we've discussed in the past about 401k oversight rules in the USA. We also take your letters and more!
Professional basketball player Tim Duncan is suing his financial advisor for losing $25M dollars. What went wrong? What's the lesson for all of us? We'll dig in today!
Deacon Hayes from The Well Kept Wallet joins the fun today, discussing commuting costs, illegal money habits and more with Paula Pant (Afford Anything) and Joe. We also take your letters, including one about the popular app Acorns, another on our "pay off your mortage sooner" strategy, and a third questioning the number of times Joe says OG's name during the show.
Additionally, Shannon McLay from Martinis and Your Money may or may not join us this episode. We can neither confirm nor deny that she'll be on the show.....
Does that sound like a circus? It's just another Monday here at Stacking Benjamins!