Jeremy Jacobson walked away from the 9-5 in his 30's because he didn't like the script that everyone else was following. He'll tell us today how he used the tax code and aggressive planning to slash his tax bill and live the life he wants. Also, today we throw out the Haven Life line for the first time to Jonathan, who wonders about removing money from a Roth 401k plan. Also, we'll talk to Jamie Wise from Buzz Indexes about biotechnology and the election, share a headline about robo advisors, and more!
Check out our show notes here: Episode 404 Show Notes
People struggle to save so much...can science help people save more? Is there an approach that will help people finally develop better habits? We'll discuss financial education, automating saving and breaking the poverty cycle. It's a complex issue and I'm glad we're able to spend time talking about that, the future of banking, and also the Wells Fargo situation on today's show!
In our FinTech segment, we talk to Cindy Zu from Kavout, a company using machine learning to help investors better make investments. How does it work? How much does it cost? We'll ask her about all of that and more halfway through the show.
Today's show features an all-star guest roundtable line up. David Stein from Money for the Rest of Us podcast, Roger Whitney from the Retirement Answer Man podcast, and Katie Brewer from Your Richest Life Planning debate and discuss our three topics ripped from the popular press on today's show!
Click here to access our show notes page.
Today Joe escapes the basement to celebrate National Credit Awareness month by hopping on a jet plane to the east coast! On today's special edition of the show, Joe talks credit and football with Chase Slate Financial Education Ambassador AND the host of the So Money podcast...Farnoosh Torabi. Isn't that how you celebrate credit awareness? We have a lot of fun on this show recorded live from a New York Jets football game.
To kick off the festivities, not only will Joe and Farnoosh score points with their own personal "Top 5 Ways To Improve Your Credit," but they'll also tackle headlines about protecting yourself from cyber-criminals and throw downfield some tips about prepping for the holiday gift giving season without fumbling your budget or running yourself into debt.
It's a great football and credit-themed show and we're glad you're celebrating with us! Special thanks to Chase Slate for sponsoring the special episode of the Stacking Benjamins show.
All the studies and reports we mention in the show can be found at StackingBenjamins.com/playbook
What money bumps keep you awake at night? Certified Financial Planner Chad Smith knows. On our very special Halloween episode, he reveals FIVE movie-themed horrors and the strategies it'll take to face your fear.
In our headline segment the guys contemplate NOT paying off your mortgage early. When is that a good idea? Also, we answer a hotline call from Richie about HSAs and a letter from Russell about investing in the FOREX exchange. Is it a good idea to trade the FOREX?
Click here for today's show notes page.
Today we take a quick time out to celebrate a HUGE accomplishment....the Stacking Benjamins Show reached 400 episodes! Who knew we'd make it this far? Sorry if you bet the "under" on us....but we're still going strong.
LOTS of our favorite podcasters stop by with fun 400th episode wishes, and we play clips from some of our favorite episodes.
As an additional treat, in our FinTech segment we talk to the CEO of Haven Life, Yarom Ben-Zvi, about how his company is innovating in a space that (in our opinion) badly needs it. What's changed in life insurance? He'll explain.
Check out our show notes at StackingBenjamins.com/400th-episode-featuring-portions-favorite-episodes
A horrifying event changed Leisa Peterson's life...for the better. What happened? That's what we'll discuss with her on this show, along with a great discussion on fear. Plus, we'll talk about crazy things people buy with student loan money AND answer questions from Amy about when to hire a financial advisor and from Michael about when to diversify his investments. There's ALL of that and more on today's show!
You're the best judge of your own success, and if you want a great career, study people who've already climbed the mountain. While she's still climbing, Lisa Sugar, the founder of the PopSugar family of fun and informative media sites and author of the new book Power Your Happy, joins us to talk about how she went from a camp counselor to running an online powerhouse. Whether you work a 9-5 job and want to do better or if you're interested in entrepreneurship, this interview is for you.
Because we're talking entrepreneurship with Lisa, we shift our attention to investments and taxes in the headline segment. Looking to avoid a time bomb in your portfolio? Chasing better dividends? Today we'll talk about the "tax triangle" and about a measurement of dividends you hadn't considered.
PLUS we have a Hotline call, your letters, Doug's trivia, and more!
What was the best advice someone could have given you when you first started investing? If you're a new investor OR a seasoned pro, you're in luck because our roundtable team are all sharing their best tips today to help get the ball rolling. We're joined by two great guests today (along with the amazing Len Penzo)...host of Profit Boss Radio, CFP Hilary Hendershott AND one of our favorite writers, Hannah Rounds from Unplanned Finances. Not only will we talk about getting started early with your financial plan, but then we'll also tackle problems with brokers and sales incentives. How do you know you won't get burned? Finally, we'll answer a question originally asked of The Moneyologist at MarketWatch.com...what would you do if you found out your mother had taken out lots of credit using your name illegally? Would you turn her in? You'll be surprised by all of our answers.
THEN in the FinTech segment, we're actually going to go anti-FinTech this week and talk to our friend Shannon McLay about her new concept coming to a city near you, the Financial Gym. What happens when you give your money a workout? How does it work? Maybe, even though we talk about great ways to use your phone for planning purposes, maybe face-to-face coaching has a place in your planning, too.
Charles Schwab's chief global investment strategist Jeff Kleintop joins us to talk diversification. Are your investments really doing less to help your portfolio avoid risk (and gain rewards) that you hope? We'll find out some surprising news from Jeff on today's show.
Also, in our headline segment, we'll tackle some surprising news from Merrill Lynch about IRAs AND discuss the best way to keep your retirement portfolio on track.
On our hotline segment, Patrick asks about his Roth IRA; if you put too much in, how do you take it back out? Doug also shares some internationally-flavored trivia and brings down the mail, which includes a question from Alex about Health Savings Accounts (HSAs).
Find detailed show notes here.
We cover LOTS of ground today....everything from too much debt to the student loan crisis to planning for entrepreneurs and ex-pats. Thinking about moving outside the USA for retirement? We've got you covered. Hoping to retire early? We'll talk about that. Starting a business and worried about cash reserves? Yup....that's on the show. How about mortgages? Absolutely! We're going to talk about that.
How? It's our annual FinCon episode! We co-hosted a party for many of the financial writing and podcasting movement's top people, and while they were there we invited them to spend a few minutes on the mic with us. We give you the flavor and some great interviews on today's show!
New data shows that people in the housing market might get some relief. Should you go out and get one today based on this news. We kick off the show with a story from Greg that sounds like we're about to talk healthcare coverage and driving lessons....but quickly move into three pieces of media fresh off the press!
What's important when you're buying property? Where do people cut corners but shouldn't? We tackle that on today's roundtable show along with discussions about why Monday morning stinks and we share some lessons learned along the way while investing for over 30 years. It's a wide-ranging blend of fun and information.
At the halfway point we talk to Candice Caruso, President of Pango Financial. They have a plan that allows people to take money from their retirement plan to fund a business. Sound like a bad idea? Candice explains the concept and why it might not be as bad an idea as you think....
Reuters television and print journalist Bobbi Rebell instructs us on what it takes to become a financial grown up. We'll talk investing, saving, hurdling debt and more. It's a wide-ranging discussioin which even involves Bobbi admitting that she, too, once lived at home as an adult with her parents. The Peter Pan in us feels much better after that. In our headline segment, we tackle a couple grown up activities: rollovers and education. We share statistics about why people decide to roll over assets from their workplace retirement plan AND stats on what class people wish they'd had more of in school (HINT: it's not racquetball). We take letters from Stephanie and Sarah about FinTech apps and diversifying retirement funds...and answer a hotline call from Nick about saving for retirement starting at an early age. How do you save when you don't know the goal because it's so far away?
Clark Howard visits the basement to talk about respect for cash, using indexes in your portfolios, finding deals, and getting educated about your money. It's a wide-ranging, fun conversation with one of the biggest names in personal finance that we're sure you're going to enjoy!
But that's not all. Jamie Wise from the Buzz Indexes (ticker BUZ) joins us with this month's social media update. We'll talk about Apple, UnderArmour, Nike, energy stocks, and more. Also, we'll answer a question from Megan about raising the interest rate on her savings account and a letter from Andrew about the potential underbelly of indexing.
As usual, we're all over the place and you're coming along for the ride!
Market drops are never fun, and when the market sunk two years ago when Philip Taylor (PTMoney.com) came down to the basement, he and Joe discussed that, real estate, and other fun money topics.
This is a rewind episode of Stacking Benjamins during our break week. We'll see you next week with all new guests and money topics!
You have open enrollment questions and we have answers....kinda. The awesome Money Guys (Brian Preston and Bo Hanson) joined us last year for an epic episode of Stacking Benjamins, and the FinTern rewinds to that episode this week. It was a ton of fun and we're glad he did....and so will you.
New intern Griffin joins us just in time to present....Pat Flynn! The man behind Smart Passive Income joined us in the basement to discuss Let Go, his project around his inspiring journey from unemployed architect to web guru. Joe, OG and PK talk about the latest Dave Ramsey vs. the internet debacle....and more!
This is a rewind episode of Stacking Benjamins, meaning that the contest and ANY thoughts about "current" market conditions are from the time this episode first aired.
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!