When life hands you more money, how does it stay in your pocket instead of floating away? Toni Husbands was over $100k in debt before going on the attack with her family. Now, the Debt Free Divas star joins Paula Pant and Will Sisk (Afford Anything) to tackle a few of the ways they are able to save money. We also discuss important issues like saving money at Starbucks (or just how to score discounts ANYWHERE) and how to "waste" money to improve your life.
Our FinTech company this week in the middle of the show is Abaris. Matt Carey is formerly with the US Treasury and with a partner set out to change the business of annuities and lifetime income streams. How does it work? We'll ask him today! Download the Abaris guide to retirement planning (for SB listeners): DIY Online Retirement Services Guide
Scott Alan Turner (Financial Rock Star podcast) joins us to talk about important lessons from his new book 99 Minute Millionaire. One reason we love Scott is that he makes some fairly difficult concepts seem simple, like indexing and budgets. We'll have a wide ranging discussion about those topics and more today! Also, in our headline segment, we put a bow on the Wells Fargo scandal by letting you know how to get your money if you're owed something from the settlement package. Also, we'll dive in to a review of Brexit. When it was all finished, did market timers get a nice bounce by missing the dip?
In the second half of the show we answer a great hotline call from Nate about extremely early retirement. If you want financial independence at a young age, how do you treat tax shelters? Then in the letters segment, Laura asks about using her husband's employee stock purchase plan for their goals. You might not expect our answers to either of these questions.
Melanie Lockert from the award winning blog DearDebt.com wrote goodbye letters to her debt and today she's telling us the story of how she descended into a black hole of debt and then pulled herself out. After an education at "the right" school, she finished college without a full time job. It turned out that great grades didn't translate to the "happy ever after" that she'd expected.
That's not all, though. We have headlines about retirement income and grabbing money from retirement plans, a great hotline call from Jonathan about after hours trading AND a letter from Luke....and much more.
Is there a place in your portfolio for quirky investments? What if you're interested in solar projects or obesity medicines? Should you niche your portfolio down to include those items? CFP Katie Brewer (YourRichestLifePlanning.com) joins Greg and Len for some fairly feisty conversation on the topic. Also, the team answers a recent MarketWatch piece that asks, are rich people cheap?
During our FinTech segment, the team from the Draft app are back to talk about marketing your app. If you have a great app it depends on users, but at the same time, if there's nobody there yet....how do you know it's a great app? It's a chicken/egg problem and they're here to talk about it today with us.
Certified Financial Planner J.J. Montenaro helps us celebrate life insurance awareness month by digging in to how to make better life insurance decisions. What are some of the frequent mistakes people make? Should you cover children? Should you use insurance as a savings account? We'll ask J.J. all of these questions and more today!
In our headline segment, we ask about stolen jewelry taken from Drake's tour bus and review some points that can absolutely make retirement stink. We take a question from Ray about passing money to your heirs...when do you tell them they have an inheritance? Also, we have a mailbag question, Doug's trivia, and more!
We've heard countless horror stories about high pressure time share sales presentations. Holly and Greg Johnson (Club Thrifty) took up IHG on a lucrative offer in Orlando to stay for a small fee if they endure a sales pitch. How did it it? Are Holly and Greg the proud owners of a new time share? Has their opinion of time shares changed? We'll ask them on today's show!
In the headlines segment Jamie Wise from Buzz Indexes (ticker BUZ) shares which stocks had the most positive and negative buzz in their index. You'll be surprised by some of the names Jamie shares. Nick Clements from MagnifyMoney joins us with his take on the Wells Fargo scandal. He shares some insights based on his background in the credit card business and also explains how you can protect yourself from being a victim of events like this.
We take a great call from "Double A" who asks about trading individual stocks and beating the market. Doug delivers some time share themed trivia....and more!
Not all money habits are good...and today Nyle Bayer from the Financial Time Traveler podcast joins Greg McFarlane to name a few of their favorites. We also cover an article in Barron's about stock picks in the media. If you read a well-known publication and it says a stock is good...do you investigate further? Finally, we answer a Moneyologist question...with some hilarious results.
In our FinTech segment we visit with Brian Barnes, the dynamic founder of M1 Finance. Ever wonder how to keep your portfolio's assets allocated correctly without a ton of hassle? M1 looks at your portfolio as a series of pies and keeps them maintained. It's an interesting concept I'm sure you'll enjoy hearing about (and that I'm betting you haven't seen elsewhere!).
If you use M1 Finance, make sure and take advantage of the special offer Brian discusses during the show. Code: STACKINGBENJAMINS.
When we heard that Larry Mathis penned a book called Mom Was Right, well, OF COURSE we had to invite him down to the basement. Any chance we have to earn points with Joe's mom we'll take. Larry shares funny and insightful stories about his childhood growing up with a strong single mother who taught him plenty about not just financial planning...but about life.
In our headlines we share our feelings about horrible news around Wells Fargo bank, and glean some insights from a knowledgeable grandma. We also take a letters about diversification AND a call from Allie about the difference between a "total market" fund and an "S&P 500" fund.
...ALL of that goodness PLUS Doug's trivia on today's podcast.
When disaster hits your money, you need to know the specific actions to take immediately to stay on your feet. Author Donna Freedman joins us in the basement today to tackle putting on your financial fire drill. She'll tell stories about living on a shoestring and share tips and tricks to weather any money storm. We'll talk apps and coupons and more....
In our headline segment another 401k plan is in trouble because of high fees. On our hotline call, we answer a question about whole life insurance. Is it ever a good idea? We also have Doug's football-themed trivia, and more!
Throw out the three article rule book. Today we focus on ONE single article with special guests Deacon Hayes from the WellKeptWallet.com podcast and professor Timothy Hoff. It's a roundtable about success and financial harmony that you won't want to miss. Are these really eight secrets that are shared at a well-known financial blog?
In our FinTech segment, Thomas Smyth of AskTrim.com joins us to tackle recent developments at the company. New financial support and extended tools make this an app you might want to look at again.
Lauren Greutman tried to spend her way to success...and failed BUT her pain is your gain because she's sharing her story today. Not only did she climb out of debt, but now she helps TONS of people learn to be savvy shoppers, save, and avoid money missteps.
Also, in our headlines, we share some scary statistics about your pay check and about the future of index funds. We also take a great letter from Jason about using his Roth IRA as a college fund and one from Lenny showing off some snazzy show art work. Of course there's still Doug's trivia and much, much more.
To help you celebrate Labor Day in the USA, mom said we should do something constructive...so we're bringing you FIVE money moves from both Joe and OG that you should take action on RIGHT NOW. it's an epic list that we're sure you'll enjoy.
Also, in our headline segment, we tackle an article about mastering the IRA rollover process--or better yet, when to avoid it. In the letters segment we take a question from Jason who wants to know about using the Roth option in his workplace plan.
That's just a little taste...of course there's much, much more.
With the Olympics just finished we decided to ask our panel (including special guest Linda P. Jones) how to manage money like an Olympian. Of course, their answers are surprising, fun, and full of insights nobody expected. We also tackle an investment strategy that just might be a little bit of a stretch AND a letter to the Moneyologist at Marketwatch. How should a man talk to his new spouse whom he suspects is taking advantage of him and his financial situation?
Ever dream about flipping houses? How about loaning money to people flipping houses? Matt Rodak, CEO of FundThatFlip.com joins us to cut through the jargon and pitfalls of either type of investing. We also tackle the new idea of crowdfunding investments, which has made Matt's company successful. What does he see coming in the future?
In our headline segment, one big firm has decided NOT to allow some really popular investment choices in IRAs. Which company? We've got that for you PLUS good back to school reminders from ConsumerResearch.org. On the Quotacy hotline we take a call from Sam, who wants to know when it's the right time to hire a generational wealth transfer advisor. Lost on what that even means? We'll explain.
Plus, Doug brings the trivia (and maybe some news about his big ice cream empire), and more!
How does debt form? When does someone's financial situation go bad? Dr. Roshawnna Novellus, the Wealthy Yogi, today shares the key to success in managing your money. We'll discuss budgets, small businesses, the IRS, and tackling debt. It's an action packed interview.
AND of course, Doug brings "the heat" (literally, in fact), we have headlines about crazy retirement myths you need to forget....a Quotacy Hotline question about real estate, and much more!
What are the most important moves to make in retirement? Harlan Landes (Adulting.tv, Plutus Foundation) joins Paula (AffordAnything) and Len (LenPenzodotcom)to tackle a recent Wisebread piece that claims to give us the MOST urgent items on your retirement planning list. Does our panel agree? You'll find out on today's show. Also, we mull over real estate home improvements (where do you get the most bang for your hard-earned dollar?) AND dream about what we'd do if we could get unlimited points/miles. Heck, even ChiChi's gets a mention on today's show. You know it's going to be a wild one when we're talking ChiChi's.
In our FinTech segment we talk to Jamie Wise from Buzz Indexes (BUZ) about their index and ETF. Hedge fund managers have been following the wisdom of social media crowds...now Jamie and his firm are bringing the same technology to the average investor.
After pensions left, we've begun building an entire system around saving into funds, ETFs and retirement plans like the 401k and IRA. Is it working? Professor William Birdthistle, author of Empire of the Fund, brings evidence that says no. What's lurking in your savings that you need to know about? We'll have that on today's show!
Also, we have a Quotacy hotline call from Anthony about a stolen debit card, and a letter from Rachel about quarterly tax filing.
AND of course, Doug's getting himself into trouble, we have headlines about a big advisory firm closing up shop and another maybe jumping the shark....and more!
Struggling with debt? You'll love today's story. Not only did WIM from the Paychecks & Balances podcast fight against debt and finally win, but he and Rich both share stories about getting back on the horse and fighting again to solve your money problems.
Of course, that's not all. We read many of the hilarious submissions in our funny numbers game. OG will pick the final four. On our Quotacy hotline call we answer a question about Roth contributions and withdrawals. Of course we have headlines, Doug's trivia, and more!
It's WAR in the basement today, as Len Penzo (LenPenzo.com) and Paula Pant (AffordAnything) square off about exit strategies. Should you think about selling if the market tanks but you haven't yet reached your goal? We'll talk about that for a LONG part of today's super-sized show....but that's not all. We also have other topics and the usual hilarity.
At the halfway point, in the FinTech spotlight we talk to Kyle Robertson, the co-creator of the Lemon app (Lemon.co), about how his expense and money tracking app works. Not only does it show you how you're spending money, but it'll provide helpful data and tips so you can manage your money better in the future.
Over 200,000 people have taken Tiffany Aliche's Live Richer Challenge, and today she's on the show talking budgets, effective money management, plugging money holes, and some amazing success stories. Daryl asks us about hiring a financial advisor, Evan calls the Quotacy hotline about withdrawing money from his tax sheltered plans in retirement, and Joe's mom's neighbor Doug finds some family secrets....
College planning expert Jodi Okun stops by the basement to help college-bound students save a TON of money. She has advice for students, parents, and for people thinking about possibly going back to college. How will you pay for it? She has many great suggestions.
In our headlines....beware when an expert shares their opinion, and it just happens to correlate with EXACTLY the items they sell. Plus, ever wonder why nobody makes money in the stock market? We'll share the real reason.
Then we take a Quotacy hotline call from Amy about moving to Canada and a letter from Megan with an awesome article attached.
All that and a guy named Snoop! in the basement today....
We return one last time to Chicago and the floor of the Podcast Movement conference, where yet another group of personal finance podcasters join us to talk money. What do their listeners worry about? We ask our panel for three new topics and not only do they deliver that....but they also give us some cool new FinTech toys that they like.
At the halfway point, the Evil HR Lady herself, Suzanne Lucas, stops by the basement to talk about an experiment she ran...handing her job over to a robot. Did it go well? Are robots coming to get us all? We'll find out on today's show.
What was the role of money in early America? Historian and host of the Ben Franklin's World podcast, Liz Covart joins us to talk trade, taxes, and a little tea party. Bitcoin is in the headlines again, as are restaurants. Does a recession in the restaurant sector spell doom for stocks?
Our Quotacy Hotline call comes from Ryan, who asks whether he should invest outside of his rotten 401k plan. We also answer a letter from Jay about paying down debt with an old IRA. Of course, Doug still brings down the trivia AND might have found a spokesman for his budding new business.
Planning for school lunch or for work lunches? Why overspend? Len Penzo from (LenPenzo.com) joins us again for his offbeat 8th annual brown bag sandwich survey. Which sandwich is least expensive? Which is most? Which cost has risen the most over time? There are lots of surprises and laughs with Len on today's show.
Plus, in the headlines, Joe describes his experience with a homeowner's insurance claim. We answer a letter from Amy in the Quotacy hotline about pensions. Are they safe? As always, Doug shares amazing trivia, and more!
Lea McLeod created a resume coloring book. Sound crazy? It has an AMAZING track record of helping people find jobs. How does it work? We ask her today.
Plus, Tucker the Intern is off to college. He says goodbye and then we return the goodbyes at the end of today's episode. Good luck, Tucker!