WHAT WAS COVERED 0:11 – Podcast begins. 3:48 – Stock recommendations. (3:48) 7:55 – How much time should you put into your portfolio? (7:55) 15:39 – Airbnb continues to perform. (15:39) 18:52 – The problem with buying individual stocks. (18:52) 23:56 – Managing your money for retirement. (23:56) [Tweet “We have no evidence that you as an individual investor …
PODCAST EPISODE 288 – What do Michael Burry and THE GUY who called the 1929 crash have in common?
WHAT WAS COVERED 00:12 – Introduction of the episode. 4:51 – America is bailing out on homeowners insurance. 12:43 – An example of how insurance unlocks wealth. 16:31 – How to predict a market crash? 22:30 – The problem with predicting the market. [Tweet “All you do is tell everybody, the stock market’s going to crash. And it needs …
PODCAST EPISODE 287 Young + 401(k) = IRS Wins
WHAT WAS COVERED 0:12 – Introduction to this episode. 1:15 – The government has increased regulation around retirement plans 3:35 – Retirement account as a tax-deductible 5:01 – What a retirement account actually costs you 7:57 – What the IRS does is absolute robbery 18:14 – You will most likely retire in a higher tax bracket 21:41 – The …
PODCAST EPISODE 286 – Dave Ramsey’s PPP Advice Worse Than Fraud?
WHAT WAS COVERED 0:15 – Introduction to this episode. 3:16 – What should I do with my PPP loan? 9:41 – Being good stewards of your capital. 15:07 – How to filter what you say against reasonableness? 19:56 The trade-off between short-term pain and long-term pain. 24:08 – Take a pay cut or take a pay vacation. 28:43 – …
PODCAST EPISODE 285 – Does Your Bank Offer a Wealth Coordination Account?
WHAT WAS COVERED 0:12 – The episode starts 2:59 – The biggest quandary of the credit union. 5:37 – Taking pictures of bank signs. 8:08 – The problem with budgeting and saving. 12:46 – The residue model vs. the catalytic model. 14:25 – The importance of having a wealth coordination account. 17:05 – Taking back the use of financial …
PODCAST EPISODE 284 – How Annuities Work…Or Don’t
WHAT WAS COVERED 0:12 – Start of the episode 1:43 – What is an annuity? A vehicle? 4:48 – What does an annuity do? 10:23 – What happens inside the annuity? 13:00 – The investments inside most annuities. 17:27 – No upfront sales charge. 19:12 – The different types of annuities. 21:46 – Qualified annuities. 26:08 – The downside …
PODCAST EPISODE 283 – 401(k) vs. Roth 401(k) What’s The Difference?
WHAT WAS COVERED 0:12 – Podcast starts 1:34 – The basics of a 401k. 3:56 – What actually happens in Korea? 6:37 – Building financial independence for the sake of a “work optional” lifestyle. 11:44 – Do you know what the tax rate is for retirement? 14:06 – How to calculate the tax liability. 16:08 – How much money …
PODCAST EPISODE 282 – IRA vs. Roth What’s The Difference?
WHAT WAS COVERED 0:08 – Introduction to today’s episode. 1:42 – Understanding the tax burden of an IRA. 3:11 – What is the net amount each year? 4:33 – What happens if tax rates are higher? 5:58 – The difference between traditional and Roth IRAs. 7:31 – No taxes on the Roth IRA. 9:08 – The benefit of having …
PODCAST EPISODE 281- Did Elon Musk Really Do This?
WHAT WAS COVERED 00:07 – Introduction of the episode. Sound financial group rebranding and new format. 02:28 – The controversy of the day, Elon Musk. 04:32 – We have no idea if the content is real. 06:57 – What we shouldn’t treat as true when investing. 09:33 – You can’t trade based on news. 14:06 – Asset Management is a …
PODCAST EPISODE 280 – Thinking Accurately About Money – Part 2
WHAT WAS COVERED 00:00 – Episode begins 00:05 – Paul welcomes listeners and explains what the episode is about 00:40 – Mister Money Mustache and the simple formula of work-optional lifestyle 05:31 – Impact of social security on your capital 10:50 – How to invest. Active vs passive management 16:30 – Impact of race or age on one’s …