Scott and James thank all of the fans for years of support for listening to the podcast and review where you can find them if you're looking for customized advice when it comes to maximizing your finances. LET'S CONNECT!JamesYouTube | Website | PodcastScottFacebook | Twitter | Website

Scott and James discuss how to balance a home purchase with saving for retirement.Listener Question:We want to stay in manhattan and want to be home owners but can’t make the math work. Our current rental 2 bed 2 bath just went up to $4400/mo. A comparable condo would sell around $1.3-$1.5m. That would put the mortgage at around $7,000 with another $2,000-$3,000 in maintainable and taxes a month. Rent does keep increasing and I don’t want to keep getting squeezed but does buying in Manhattan just not make sense? Planning Points DiscussedUtilizing Time EfficientlyCapital AppreciationPurchasing PowerOther issues (IRAs, Inflation, Financial Goals, etc.)Timestamps:2:30 - Priorities5:25 - Various Goals 8:12 - Life & Math Don't Always Match11:15 - Investment Concerns12:30 - How Much Home Can You Afford?16:05 - Aligning Your Financial GoalsLET'S CONNECT!JamesYouTube LinkedIn WebsiteScottFacebook Twitter Website

Scott and James discuss what to do if you make too much to contribute to a Roth IRA.Listener Question:I am currently 33 years old, single, and am nearing a $129,000 annual salary. I have been investing in a Roth IRA and realize the phaseout limits for single taxpayers are from $129k - $144k. My question is, how do I lower my income, besides contributing to my traditional 401k, so I can keep contributing the max $6000/year into my Roth IRA as my income rises over the years?Planning Points Discussed:Utilizing Time EfficientlyCapital AppreciationPurchasing PowerOther issues (IRAs, Inflation, Financial Goals, etc.)Timestamps:2:30 - Introduction6:17 - Phaseouts8:13 - Roth IRAs11:05 - Aligning Your Financial GoalsLET'S CONNECT!JamesYouTube LinkedIn WebsiteScottFacebook Twitter Website

Scott and James discuss whether or not an MBA is worth it.Planning Points DiscussedUtilizing Time EfficientlyCapital AppreciationPurchasing PowerOther issues (IRAs, Inflation, Financial Goals, etc.)Timestamps:2:30 - Listener Quesiton5:30 - Why MBA?7:46 - Pros/Cons of MBAs8:30 - Debt v. Investing16:05 - Aligning Your Financial GoalsLET'S CONNECT!JamesYouTube LinkedIn WebsiteScottFacebook Twitter Website

Scott and James discuss the tax implications of withdrawing income from various accounts in retirement.Listener Question:Can you talk about how some of the main retirement accounts are taxed upon withdrawal? Example topic: Are withdrawals just subject to Federal taxes, or FICA taxes as well? And how / if withdrawing from retirement accounts affects eligibility / taxes you have to pay on social security? Can you talk about how after tax brokerage accounts are taxed both while investing and when you start to withdraw? And what withdrawals from that look like when you are retired (whether or not you are at ‘retirement age’ or not).Planning Points DiscussedUtilizing Time EfficientlyCapital AppreciationPurchasing PowerOther issues (IRAs, Inflation, Financial Goals, etc.)Timestamps:2:30 - Introduction6:17 - Accounts Aren't Equal11:15 - Tax Overview14:46 - Maximizing Your Finances16:05 - Aligning Your Financial GoalsLET'S CONNECT!JamesYouTube LinkedIn WebsiteScottFacebook Twitter WebsiteENJOY THE SHOW?Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play.

Scott and James discuss how to reduce costs inside of your company's 401(k).Join the Real Personal Finance Community and click on "The Nation"We're on YouTube here!Listener Question:What is a good expense ratio for a retirement account? Is this something you can control with an employer sponsored plan? I want to make sure my money is working for me and I am maximizing my returnsPlanning Points DiscussedUtilizing Time EfficientlyCapital AppreciationPurchasing PowerOther issues (IRAs, Inflation, Financial Goals, etc.)Timestamps:2:30 - We're on YouTube HERE!6:17 - Expense Overview11:15 - Planning Options14:46 - Individual Choices16:55 - Business Size21:05 - Aligning Your Financial GoalsLET'S CONNECT!JamesYouTube LinkedIn WebsiteScottFacebook Twitter WebsiteENJOY THE SHOW?Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play.

Scott and James discuss how real estate should factor into your retirement plan.Join the Real Personal Finance Community and click on "The Nation"We're on YouTube here!Listener Question:Me and my wife enjoy doing live and flip rentals and are planning on the cash flow to be part of our retirement funds. We are planning to move in a year and would like to pick up a third house to add to our portfolio when we do. How would you run the numbers to see if this is a safe investment for us. Ensure we are not taking on too much risk to expand.Planning Points DiscussedUtilizing Time EfficientlyCapital AppreciationPurchasing PowerOther issues (IRAs, Inflation, Financial Goals, etc.)Timestamps:2:30 - We're on YouTube HERE!6:17 - Rental Overview11:15 - Understanding Real Estate14:46 - Income Understanding16:46 - Customization is Key19:00 - Aligning Your Financial GoalsLET'S CONNECT!JamesYouTube LinkedIn WebsiteScottFacebook Twitter WebsiteENJOY THE SHOW?

Scott and James discuss how to best diversify a concentrated stock holding.Join the Real Personal Finance Community and click on "The Nation"We're on YouTube here!Listener Question:How do I exit a concentrated stock position?I’m an employee at a large tech company and I’ve vested RSUs over the last 4 years. Some of my stock has appreciated 4x since I was granted it. My non-company stock brokerage account value is around $700k, and on top of that my vested company stock (APPL) is worth $250k at the moment. I expect to continue to accumulate more company stock through ESPP and RSU grants over time. My current gross income is around $325k ($200k salary + $125k annual RSU stock grants). I would like to take action to diversify this position into other equities (equity index funds). The reason I would like to diversify is to reduce my portfolio risk. Having just seen some other companies like Meta take a 70% stock hit, it feels like a responsible action to take. As I’ve heard in your podcast, I should not have too much of my net worth in one stock, and the only free lunch is diversification. I can sell all $250,000 vested shares tomorrow, but then I believe I would get hit with a large tax bill for all of the gains, which seems like it could be a burden. I am thinking I could start by selling the shares that I’ve held for over a year to make sure to get the long-term gains tax rate instead of the short term tax rate. And then next year, I could sell the stock I got this year, etc. I am thinking of starting a DAF in the next couple years and gifting $10k of appreciated stock to charity (apple does 2:1 promotions where they match up to $10k, meaning I could initiate the DAF with $30k), but the rest I would like to re-invest in a more diverse way to meet my short and long-term financial goals. Planning Points DiscussedUtilizing Time EfficientlyCapital AppreciationPurchasing PowerOther issues (IRAs, Inflation, Financial Goals, etc.)Timestamps:2:30 - We're on YouTube HERE!5:58 - Tax Consequences9:16 - Stock Vesting13:45 - Minimize Your Taxes16:56 - Best Stocks25:30 - Aligning Your Financial GoalsLET'S CONNECT!JamesYouTube LinkedIn WebsiteScottFacebook Twitter WebsiteENJOY THE SHOW?Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play.Submit Your Question For The Show Here!

Scott and James discuss how 5 things to start the new year right with your finances.Join the Real Personal Finance Community and click on "The Nation"We're on YouTube here!Planning Points DiscussedUtilizing Time EfficientlyCapital AppreciationPurchasing PowerOther issues (IRAs, Inflation, Financial Goals, etc.)Timestamps:2:30 - We're on YouTube HERE!6:17 - Financial Goals11:15 - Priorities in Money24:46 - Individual Choices30:46 - Customization is Key33:00 - Aligning Your Financial GoalsLET'S CONNECT!JamesYouTube LinkedIn WebsiteScottFacebook Twitter WebsiteENJOY THE SHOW?Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play.

Scott and James discuss how you should choose your survivor benefits options for your pension. Join the Real Personal Finance Community and click on "The Nation"We're on YouTube here!Listener Question:I'm not sure if this can be a whole show but I was wondering if you guys can go over how to think about choosing between the Survivor Benefit Plan (SBP) and whole or term insurance. I'm in the military and will be retiring soon. I work with a lot of members that are retiring and this choice seems like a coin flip or they simple go off of what someone else did. I know this decision is different for everyone so I was hoping you guys could go over a framework of how to compare the two. I would love to be able to point people to a podcast that walks them through the process of comparing the two.Planning Points DiscussedUtilizing Time EfficientlyCapital AppreciationPurchasing PowerOther issues (IRAs, Inflation, Financial Goals, etc.)Timestamps:2:30 - We're on YouTube HERE!6:17 - Pension Overview11:15 - Understanding Your Options14:46 - Individual Choices16:46 - Customization is Key19:00 - Aligning Your Financial GoalsLET'S CONNECT!JamesYouTube LinkedIn WebsiteScottFacebook Twitter WebsiteENJOY THE SHOW?Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play.

Scott and James discuss misleading financial rules to avoid.Join the Real Personal Finance Community and click on "The Nation"We're on YouTube here!Listener Question:How do you both think about the common wisdom that you should have a certain multiple of your income saved by a specific age (e.g. save at least 1x your salary by 30, 3x by 40, 6x by 50, 8x by 60, and 10x by 67)?I am in a situation where my income has tripled between ages 30 and 35. As an example, let's say I had 100K saved at age 30 (1x my salary), but I'm 35 and my salary is now 300K. I don't have 900K saved in retirement, in fact, it's about half that. Am I in trouble?Planning Points DiscussedUtilizing Time EfficientlyCapital AppreciationPurchasing PowerOther issues (IRAs, Inflation, Financial Goals, etc.)Timestamps:2:30 - We're on YouTube HERE!6:17 - How Much Do I Need To Save?8:52 - How Much Money Do I Need?12:54 - Portfolio Changes14:45 - Income Diversification18:21 - Aligning Your Financial GoalsLET'S CONNECT!JamesYouTube LinkedIn WebsiteScottFacebook Twitter WebsiteENJOY THE SHOW?Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play.

Scott and James discuss annuities and announce Real Personal Finance NATION!Join the Real Personal Finance Community and click on "The Nation"We're on YouTube here!Listener Question:I've met with multiple financial advisors and all of them have 2 things in common.1. They all say they are Fiduciary.2. They all try and pitch me on various types of annuities to supplement or augment my portfolio.Can you please address annuities on a show? Everything I have read online says to stay away from annuities (all types), and I am losing trust for the financial advisor industry. Are there cases where an annuity is a good move?P.S. I asked the last guy your recommended set of questions from a previous show. He was impressed with the question I asked, "How else are you paid?" And did say insurance commissions, but also said nobody asked him that.Planning Points DiscussedUtilizing Time EfficientlyCapital AppreciationPurchasing PowerOther issues (IRAs, Inflation, Financial Goals, etc.)Timestamps:2:30 - We're on YouTube HERE!6:17 - Annuity Overview14:15 - Exchanging Annuities23:46 - Financial Advisors29:15 - Advisor Resources35:10 - Real Personal Finance NATION!39:30 - Aligning Your Financial GoalsLET'S CONNECT!JamesYouTube LinkedIn WebsiteScottFacebook Twitter WebsiteENJOY THE SHOW?Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play.

Scott and James discuss the best way to enter the financial planning industry as a career changer.Wilson Liu Financial ResourcesWe're on YouTube here!Listener Question:I really enjoy your podcast. I've had a 10-year career in nonprofit development, but I've had a passion for investing and personal finance since I was a little kid. I'm trying to pivot into wealth management. I know in a recent episode you addressed the path into the industry for someone coming out of college. I'd love to hear if you have any insight for someone making a pivot mid-career. Maybe the pathway is the same, but it would be great to hear what you think.Planning Points DiscussedUtilizing Time EfficientlyCapital AppreciationPurchasing PowerOther issues (IRAs, Inflation, Financial Goals, etc.)Timestamps:2:30 - We're on YouTube HERE!6:17 - Financial Resources10:15 - Understanding Your Options12:46 - Career Change Sample15:55 - Characteristics Scott/James Look For23:00 - Aligning Your Financial GoalsLET'S CONNECT!JamesYouTube LinkedIn WebsiteScottFacebook Twitter WebsiteENJOY THE SHOW?Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play.

Scott and James discuss how you can know when you're financially free.NEW: We're on YouTube here!Listener Question:If you think we can step away from work when I hit "my number" whether it be at age 49 or 54 - knowing that I would only pull approx 3% from my brokerage until I reach 59.5. My goal would be to leave FT work at age 50, and have my wife and I only work PT or consulting to cover expenses and carry healthcare - w/o withdrawing from the portfolio until we hit our number (BTW we think total number is about 3.5M). We're both 40We have about 900,000 in liquid assets (not including our home equity). Of that total amount, about 500k in roth, 250k in traditional ira, 130k brokerage and 20k hsa. 90/10 portfolio of just a few diversified vanguard ETFscombined income of 300kspend about 85k todayafter tax, we save/invest about 60% and if you add employer match in total it's about 115k a year towards investmentsmortgage will be paid off by 50 and kids will be in collegewe'd like to forecast spending about 90-95k in todays dollars in retirementSo, in about 10 years, will we reach enough to execute our plan of having options? And how large should our brokerage account be to cover our plan of spending our 50s doing some PT work to cover expenses and then withdrawing in our mid-50s?Planning Points DiscussedUtilizing Time EfficientlyCapital AppreciationPurchasing PowerOther issues (IRAs, Inflation, Financial Goals, etc.)Timestamps:2:30 - We're on YouTube HERE!6:17 - Listener Question10:30 - Truth of Investing13:16 - Financial Freedom18:20 - Tax Planning20:53 - Risk Management23:00 - Aligning Your Financial GoalsLET'S CONNECT!JamesYouTube LinkedIn WebsiteScottFacebook Twitter WebsiteENJOY THE SHOW?Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play.Submit Your Question For The Show Here!

Scott and James discuss the most how individual stocks compare to investing in funds.NEW: We're on YouTube here!Listener Question:I listen to your podcast and it has inspired me to invest however, I have invested into individual stocks and it has lost around 50% of its value so I invested money into VOO because I thought it was safer and I continue to invest $55 every two weeks im 18 and this is what I can comfortably afford how do I build my wealth for the long term should I continue to invest in the S and P or is there another thing you recommend?Planning Points DiscussedUtilizing Time EfficientlyCapital AppreciationPurchasing PowerOther issues (IRAs, Inflation, Financial Goals, etc.)Timestamps:2:30 - We're on YouTube HERE!6:17 - Individual Stocks10:30 - Truth of Money13:16 - Funds Overview18:20 - Financial Planning20:53 - Stock Investing26:49 - Growth Mindset33:00 - Aligning Your Financial GoalsLET'S CONNECT!JamesYouTube LinkedIn WebsiteScottFacebook Twitter WebsiteENJOY THE SHOW?Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play.Submit Your Question For The Show Here!

Scott and James discuss the most effective way to incorporate giving into your financial plan.NEW: We're on YouTube here!Listener Question:Am I on track to retire at 52? Am I over-investing in retirement at the expense of more freedom now? How would you recommend incorporating pension plans into overall retirement planning (ideal year:pension percentage break-even point?)? Planning Points DiscussedUtilizing Time EfficientlyCapital AppreciationPurchasing PowerOther issues (IRAs, Inflation, Financial Goals, etc.)Timestamps:2:30 - We're on YouTube HERE!6:17 - Redefining Giving10:30 - Truth of Money13:16 - 503(c) organizations18:20 - Tax Planning20:53 - Life Insurance22:49 - Business Assets26:00 - Aligning Your Financial GoalsLET'S CONNECT!JamesYouTube LinkedIn WebsiteScottFacebook Twitter WebsiteENJOY THE SHOW?Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play.

Scott and James discuss if you should ever purchase your home fully in cash.NEW: We're on YouTube here!Listener Question:I’m 27 and my goal is to have a paid for house by the time I'm 45. In the next 18 years, if I save and invest aggressively will I have potentially have enough to pay in cash or is it better to get the mortgage when I'm able to and pay the interest because house prices will go up more than what I could earn in interest in the stock market? To me, it seems that any appreciation the house might gain will be lost in the interest I'm paying to the bank for the mortgage. I don't want to pay interest and since I can't even get a loan for enough to buy a house in my area I'm wondering if it's not a better idea to save in an investment account and once the account reaches the right number, use that money to buy the house without a mortgage. Planning Points DiscussedUtilizing Time EfficientlyCapital AppreciationPurchasing PowerOther issues (IRAs, Inflation, Financial Goals, etc.)Timestamps:2:30 - We're on YouTube HERE!5:02 - Assumptions10:30 - Understanding Interest14:14 - Personal Finance is Personal18:20 - Subjective & Objective Personal Finance23:00 - Aligning Your Financial GoalsLET'S CONNECT!JamesYouTube LinkedIn WebsiteScottFacebook Twitter WebsiteENJOY THE SHOW?Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play.

Scott and James discuss how a pension fits into your overall retirement plan.NEW: We're on YouTube here!Listener Question:Am I on track to retire at 52? Am I over-investing in retirement at the expense of more freedom now? How would you recommend incorporating pension plans into overall retirement planning (ideal year:pension percentage break-even point?)? Planning Points DiscussedUtilizing Time EfficientlyCapital AppreciationPurchasing PowerOther issues (IRAs, Inflation, Financial Goals, etc.)Timestamps:2:30 - We're on YouTube HERE!5:02 - Assumptions10:30 - Retirement Planning14:14 - Pension Considerations18:20 - Subjective & Objective Personal Finance20:53 - Life Insurance22:11 - Optimizing Finances23:00 - Aligning Your Financial GoalsLET'S CONNECT!JamesYouTube LinkedIn WebsiteScottFacebook Twitter WebsiteENJOY THE SHOW?Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play.

Scott and James discuss the 5 employee benefits to get right during annual enrollment! NEW: We're on YouTube here! Planning Points Discussed Utilizing Time Efficiently Capital Appreciation Purchasing Power Other issues (IRAs, Inflation, Financial Goals, etc.) Timestamps: 2:30 - We're on YouTube HERE! 4:25 - Retirement Contributions 10:59 - Credit Card Interest Rates 16:26 - Healthcare Considerations 23:05 - Life Insurance Coverage 29:12 - Savings Rates 33:39 - Deferred Compensation 36:00 - Aligning Your Financial Goals LET'S CONNECT! James YouTube LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play.

Scott and James discuss if Roth or Traditional is better for FIRE (Financial Independence, Retire Early). NEW: We're on YouTube here! Listener Question: I’m wondering if I should change my 401k strategy from traditional to roth?  I’m a 35 year old high earner making around $175k a year plus bonus.  I’m currently maxing my traditional 401k plus a 5% match from my employer.  I need to work another 7 year to hit my FI number ($2.5M) and I have $160k in my traditional 401k right now.  When I run the numbers on compounding interest, I show that I’ll have somewhere between and $1.2M - $2M in traditional when I hit 59 1/2 if I just continue getting my match (no more personal contributions).  I feel like if I continue to contribute to traditional 401k, I will have a huge tax bill when I hit 59 1/2 and I'm worried about RMDs.  What should I do?  Do I continue to take the tax deduction now since I’m a high earner or transition to roth to create more tax diversification?  On a side note, I’m already performing a roth ira conversion each year ($6k), maxing my HSA ($7.3k), and contributing to a brokerage account monthly ($1.5k). Planning Points Discussed Utilizing Time Efficiently Capital Appreciation Purchasing Power Other issues (IRAs, Inflation, Financial Goals, etc.) Timestamps: 2:30 - We're on YouTube HERE! 4:35 - Listener Question Summary 8:37 - Tax Basics 13:47 - 401(k) Maximum 18:20 - Optimize Income & Savings 21:57 - Savings Rates 24:22 - Personal Capital 26:00 - Aligning Your Financial Goals LET'S CONNECT! James YouTube LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play.

Scott and James discuss if you should dip into your retirement accounts to purchase a home. NEW: We're on YouTube here! Listener Question: Should I max out all of our retirement accounts and consider taking a loan against my 457b or take out contributions from my Roth IRA in order to make a sizeable down payment for this second home in the future? Or should I allocate a portion of that savings money into a brokerage account instead for 10 years to save for this down payment? I am leaning toward taking a loan/Roth contribution instead of brokerage due to 1) tax benefits 2) simplicity and 3) because I view it as essentially "diversifying" my retirement by putting that money toward a lakehouse. Planning Points Discussed Utilizing Time Efficiently Capital Appreciation Purchasing Power Other issues (IRAs, Inflation, Financial Goals, etc.) Timestamps: 2:30 - We're on YouTube HERE! 4:15 - Listener Summary 6:35 - Insurance Needs 10:32 - Different Goals & Priorities 14:30 - When To Make a Purchase 17:19 - Property Growth 20:35 - Aligning Your Financial Goals LET'S CONNECT! James YouTube LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play.

Scott and James discuss what to do when you receive a significant bump in income.  NEW: We're on YouTube here! Listener Question: I would like to do the more in-depth analysis you mentioned on today’s podcast if you are willing. We hope to retire in the next 5 years, at age 55/56. I am eligible to begin receiving a pension after this year, but plan to "double-dip" for the next 4-5. I have questions about 403(b) and 457 accounts, rollovers, and distributions. Planning Points Discussed Utilizing Time Efficiently Capital Appreciation Purchasing Power Other issues (IRAs, Inflation, Financial Goals, etc.) Timestamps: 2:30 - We're on YouTube HERE! 4:15 - Income Basics 10:02 - Income Raises & Planning Changes 17:38 - How Much To Save For Different Goals 20:32 - Aligning Your Financial Goals LET'S CONNECT! James YouTube LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play.

Scott and James discuss if you should save your money for the future or spend it today. NEW: We're on YouTube here! Listener Question: I am 40 years old and want to know how I am doing. I have been through a divorce and a major job change and have been saving as much as possible, but it seems like I may have gotten to a place where I may be able to save less aggressively. I would really love to be able to retire comfortably at 60 but also live my best life now without over-saving and missing out on today. I have an old 401k, current 401k, Roth IRA, HSA and brokerage account. I know my numbers very well: budget/spending, savings/savings rate, net worth, etc. Planning Points Discussed Utilizing Time Efficiently Capital Appreciation Purchasing Power Other issues (IRAs, Inflation, Financial Goals, etc.) Timestamps: 2:30 - We're on YouTube HERE! 4:15 - Summary of Goals 10:02 - Comprehensive Financial Planning 17:38 - How Much To Save/Spend Today? 22:32 - Aligning Your Financial Goals LET'S CONNECT! James YouTube LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play.

Scott and James discuss where to invest excess income. NEW: We're on YouTube here! Planning Points Discussed Utilizing Time Efficiently Capital Appreciation Purchasing Power Other issues (IRAs, Inflation, Financial Goals, etc.) Timestamps: 2:30 - We're on YouTube HERE! 4:19 - Anonymous Example 10:02 - Cash Flow 17:38 - Roth Contributions 22:41 - Risk Tolerance & Income Needs 25:37 - Aligning Your Financial Goals LET'S CONNECT! James YouTube LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here

Scott and James discuss if your investments are too concentrated. NEW: We're on YouTube here! Planning Points Discussed Utilizing Time Efficiently Capital Appreciation Purchasing Power Other issues (IRAs, Inflation, Financial Goals, etc.) Timestamps: 2:30 - We're on YouTube HERE! 5:03 - Individual Context 7:32 - Budgeting 13:45 - Importance of Tracking Efficiently 19:32 - Index Fund Advantages 25:11 - Aligning Your Financial Goals LET'S CONNECT! James YouTube LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here

Scott and James discuss how to understand the stock market. NEW: We're on YouTube here! Planning Points Discussed Utilizing Time Efficiently Capital Appreciation Purchasing Power Other issues (IRAs, Inflation, Financial Goals, etc.) Timestamps: 2:30 - We're on YouTube HERE! 6:31 - What is the "market"? 10:28 - Investing in the "winners" 18:09 - What % Are The Major Companies? 23:11 - Aligning Your Financial Goals LET'S CONNECT! James YouTube LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here

Scott and James discuss what insurances you need (and don't need). Planning Points Discussed Utilizing Time Efficiently Capital Appreciation Purchasing Power Other issues (IRAs, Inflation, Financial Goals, etc.) Timestamps: 2:30 - Insurance 7:01 - Proper Protection 10:41 - What Insurances To Avoid? 17:36 - Long-Term Care Needs 16:57 - Debt & Real Estate 25:31 - Aligning Your Financial Goals LET'S CONNECT! James YouTube LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here

Scott and James discuss how this market impacts how we pull funds from 529 plans. Planning Points Discussed Utilizing Time Efficiently Capital Appreciation Purchasing Power Other issues (IRAs, Inflation, Financial Goals, etc.) Timestamps: 5:49 - Stocks & Bonds Correlation 9:58 - Cash Flow & Risk Level 14:49 - What Is A Good Rate? 18:50 - Additional Expenses 16:57 - Debt & Real Estate 21:27 - Aligning Your Financial Goals LET'S CONNECT! James YouTube LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here

Scott and James discuss how to invest in stocks for beginners. Listener Question Sometimes I can tend to pull the trigger on things before doing enough due diligence. If I make a stock purchase and later am not sure it was the best decision, how long should I wait before selling the shares and moving on from that company.I'm not talking about buying a company and then a week later the stock price dips a little bit and that being reason to dump shares but more fundamentally if I no longer believe that a company is worth the investment how long after that point should I wait before selling the shares? Planning Points Discussed Utilizing Time Efficiently Capital Appreciation Purchasing Power Other issues (IRAs, Inflation, Financial Goals, etc.) Timestamps: 3:00 - Not Longer Just "It Depends" 6:26 - Fundamentals 7:48 - Appreciation v. Dividend 14:34 - Types of Investments 20:12 - JP Morgan Study 26:35 - When To Sell/Buy 27:10 - Aligning Your Financial Goals LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here

Scott and James discuss how to understand your cash flow. Planning Points Discussed Utilizing Time Efficiently Capital Appreciation Purchasing Power Other issues (IRAs, Inflation, Financial Goals, etc.) Timestamps: 4:16 - Income  6:26 - Fundamentals 10:46 - Spending Isn't Negative 14:27 - Rules of Thumb 16:57 - Debt & Real Estate 21:12 - Tax Rates 25:45 - Aligning Your Financial Goals LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here

Scott and James discuss the pros and cons of using dividend investing to create passive income. Planning Points Discussed Utilizing Time Efficiently Capital Appreciation Purchasing Power Other issues (IRAs, Inflation, Financial Goals, etc.) Listener Question: What is your stance on dividend investing, with the goal of reaching a point where one can live off of "passive" income from dividend ETFs? I have been reading a lot on the dividend subreddit where people are sharing their spreadsheets and screenshots of investments, and it seems like a very compelling strategy. What are the pros and cons of investing heavily in dividend ETFs with the hope of building a passive income stream? Timestamps: 4:16 - Dividend Yield 7:27 - The Feeling Behind Dividends 10:19 - Dividends During Recessions 14:27 - Don't Just Focus On Dividends 18:52 - Total Return 21:12 - Dividend v. Capital Appreciation LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here

Scott and James discuss how to understand your balance sheet. Planning Points Discussed Utilizing Time Efficiently Capital Appreciation Purchasing Power Other issues (IRAs, Inflation, Financial Goals, etc.) Timestamps: 6:17 - Having Multiple Accounts For Organization 10:08 - Goal-Based Investing Accounts 15:33 - Debt 20:25 - Net Worth Allocation 24:29 - Restrucutre Debt 26:48 - Aligning Your Financial Goals With Your Life LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here

Scott and James discuss how to invest during a bear market. Planning Points Discussed Utilizing Time Efficiently Capital Appreciation Purchasing Power Other issues (IRAs, Inflation, Financial Goals, etc.) Timestamps: 3:27 - What To Do As Investors Now 6:52 - Prices Are Reflected Today 11:03 - Averages Are In Your Favor 14:27 - Recovery Statistics 17:06 - Relatively "Normal" 17:44 - Aligning Your Financial Goals With Your Life LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here

Scott and James discuss how to retire early. Planning Points Discussed Utilizing Time Efficiently Capital Appreciation Purchasing Power Other issues (IRAs, Inflation, Financial Goals, etc.) Timestamps: 2:05 - FIRE Movement 5:05 - Non-Traditional Retirement 7:25 - Social Security 10:09 - Additional Considerations 11:25 - Military Considerations 13:40 - Gap Fund 15:50 - What Will You Really Enjoy? 17:44 - Aligning Your Financial Goals With Your Life LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here

Scott and James discuss how much company stock ownership is too much. Planning Points Discussed Utilizing Time Efficiently Capital Appreciation Purchasing Power Other issues (IRAs, Inflation, Financial Goals, etc.) Listener Question: I'm a manager at a blue chip company and they offer up to 20% of their stock in your 401K. Right now I have 8% of my 401K invested in company stock with the rest in target date funds. I'm wondering your thoughts on if 8% is too much or too little. I have another IRA with good mutual funds and a personal brokerage account where I pick my own stocks. Just wanted to add that in so you didn't think that this 401K is my only savings for retirement. Timestamps: 4:28 - Rules of Thumb 9:32 - Casting A Wide Net 13:47 - Risk v. Return 17:12 - Company Stock Summary 18:44 - Aligning Your Financial Goals With Your Life LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here

Scott and James discuss where to invest cash earmarked for a down payment. Planning Points Discussed Utilizing Time Efficiently Capital Appreciation Purchasing Power Other issues (IRAs, Inflation, Financial Goals, etc.) Listener Question: My wife and I have money (in cash, ~ $150k) earmarked for a down payment on a home.  There is no real urgency to buy a home other than setting down roots as our family grows as our current rental meets our needs.  However, with the housing market still red hot and interest rates increasing; we're contemplating waiting until the housing market/inflation rates cool a little bit. If we decide to wait, say 1-2 years, is there something we can do with the $150k to better work for us other than have it sit in cash? Conversely, if we plan to stay in the new home we purchase for 10+ years, does the higher house cost/higher inflation rates really matter if we have the money set aside right now? I guess some of this boils down to the old "rent vs. own". (additional context - we have a separate emergency fund established, we both max out our 401ks and invest monthly in an index fund brokerage account and 529 plan) Timestamps: 3:00 - Where To Put Cash 5:36 - Mortgage Rates 9:45 - Return On Hassle 12:47 - Volatility 15:19 - Overview Of What's In Your Control 17:05 - Alignment In Your Financial Goals LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here

Scott and James discuss how to best mitigate risk in your investment strategy. Planning Points Discussed Utilizing Time Efficiently Capital Appreciation Purchasing Power Other issues (IRAs, Inflation, Financial Goals, etc.) Listener Question: I'm really enjoying your podcast and generally agree with your advice. I'm 37 and a personal investor who is focused on long term investments for retirement. I have generally leveraged a higher risk strategy based on my age with index funds. My question is about the make up of the S&P 500 and specifically I’m concerned that the majority of the top stocks a large tech firms. It seems possible that we have seen the peek of these firms similar to the dot com bubble, so I’m rethinking continuing to invest due to this risk of collapse. Can you help me understand how to manage that risk? Timestamps: 3:27 - What Is An Index? 7:05 - Why We Invest 11:22- Importance of Diversification 14:15 - How Do You Enjoy Investing? 16:59 - Market Capitalization 19:25 - Aligning Your Financial Goals LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here

Scott and James discuss the benefits of Health Savings Accounts and how to maximize their impact. Planning Points Discussed Utilizing Time Efficiently Capital Appreciation Purchasing Power Other issues (IRAs, Inflation, Financial Goals, etc.) Listener Question: My question is around HSA's. Am I really missing out by not investing in this? I understand the power of tax advantage accounts, but to me having all that money that can only be used for specific things feels very limiting. Plus all the extra work of needing to track these expenses, etc. Is that trade off really worth it, or am I fine if I'm maxing out IRA's (no 401k atm) and adding to taxable accounts. Timestamps: 2:26- HSA Overview 5:16 - Tax Benefits 9:36 - HSA or FSA 12:54 - Expense Tracking 15:54- Required Distributions 18:30 - Aligning Your Financial Goals LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here

Scott and James discuss if you should use an adjustable rate mortgage (ARM)? Planning Points Discussed Utilizing Time Efficiently Capital Appreciation Purchasing Power Other issues (IRAs, Inflation, Financial Goals, etc.) Timestamps: 1:10 - Mortgage Rate Options 4:17 - Mortgage Risk 6:38 - Payment Differences 10:27 - Additional Options 11:23 - Don't Push Debt Forward 13:45 - Aligning Your Financial Goals LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here

Scott and James discuss how you can reduce taxes on side hustle income. Planning Points Discussed Utilizing Time Efficiently Capital Appreciation Purchasing Power Other issues (IRAs, Inflation, Financial Goals, etc.) Timestamps: 1:10 - Listener Question 3:25 - Taxes 5:50 - Retirement Contributions 7:43 - Retirement Contribution Maximums 9:14 - Solo 401(k) v. SEP IRA 11:35 - Can My Spouse Contribute? 14:27 - Target Income & Timeframe 16:11 - Aligning Your Financial Goals LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here

Scott and James discuss what planning points to consider during a recession. Planning Points Discussed Utilizing Time Efficiently Capital Appreciation Purchasing Power Other issues (IRAs, Inflation, Financial Goals, etc.) Timestamps: 1:10 - What Can We Control 3:25 - Cash Flow 8:12 - Unemployment 10:13 - How To Withdraw in Retirement 14:42 - Roth Conversion 16:51 - Loss Carryover 19:33 - Aligning Your Financial Goals LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here

Scott and James discuss how to invest in down markets.   Listener Question With the markets increased volatiltiy in the past few weeks, we wanted to address how you can be investing amidst current market conditions. Thank you for submitting your questions and please continue to do so and we'll look to answer them in a future episode. Planning Points Discussed Utilizing Time Efficiently Capital Appreciation Purchasing Power Other issues (IRAs, Inflation, Financial Goals, etc.) Timestamps: 2:30 - Inflation 6:10 - Headlines 11:42 - The Best Days 15:05 - Having a Plan 18:20 - Rebalancing 20:31 - Aligning Your Financial Goals  LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here

Scott and James discuss how to account for matching contributions in retirement savings rates. Listener Question Wanted to find what both of yours opinions are on savings rate as it relates to employer match. I am currently saving 25% of my gross income between maxing out 401k, IRA and the rest to a brokerage, I bonds and ESPP. My employer matches 15% NEC on 100% income. I have a mandatory retirement age from this career (commercial aviation) If I fall short on my 25% personal savings rate in a given year, when is it appropriate to count the 15% from the company? Or is it always counted and I’m saving 40% between the two? Planning Points Discussed Utilizing Time Efficiently Capital Appreciation Purchasing Power Other issues (IRAs, Inflation, Financial Goals, etc.) Timestamps: 2:30 - Employer Matching 4:55 - Dollars Are Dollars 7:21 - Overfunding 9:12 - Lifestyle Goals 10:47 - Healthy Savings 11:47 - Aligning Your Financial Goals  LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here

Scott and James discuss how to give more effectively using Donor-Advised Funds. Listener Question Hello! I love the show. I think I’ve had a chance listened to over 100 episodes. Have y’all considered an episode on giving? I recently started use using a donor advised fund, giving away some highly appreciated assets instead of cash. Are there any more strategies that I can use to be generous? Anything out of the box? Planning Points Discussed Utilizing Time Efficiently Capital Appreciation Purchasing Power Other issues (IRAs, Inflation, Financial Goals, etc.) Timestamps: 3:34 - Charitable Giving 5:38- Deductions 8:09 - Effective Giving 15:38 - Utilize Tax Benefits 20:35 - Aligning Your Financial Goals  LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here

Scott and James discuss how to find a financial professional that's right for you. Listener Question My husband and I are both high earners. He owns his own business and I am employed full time in the health tech sector. We are in a great position where we are debt free, own our home and a rental property and have close to a million in investments. We manage our finances and taxes on our own today but are getting to the point where we'd like some advice around how to make the most of our assets, particularly from a tax perspective, as we continue to earn. We're 35 and 40 years old and have one child. We've been burned by tax accountants in the past who charge a ton but provide very little that we didn't already know. We find there are lots of resources for those starting out and many for those in the 5+ million range, but very little out there for where we are. Do you have any advice on how to find a professional who would be able to help us for a reasonable fee? I'd love to find someone we can create a relationship with who will grow with us. Thanks! Planning Points Discussed Utilizing Time Efficiently Capital Appreciation Purchasing Power Other issues (IRAs, Inflation, Financial Goals, etc.) Timestamps: 3:54 - Retirement Goals 9:05 - Do You Need An Accountant? 11:46 - Importance of Your Situation 15:07 - Quality of Life 18:33 - Who's the Best Fit? 20:35 - Aligning Your Financial Goals  LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here

Scott and James discuss which pension option they should select, annuity or lump sum? Listener Question Hey guys! Thank you so much for the amazing podcast! I have a pension question. I am a teacher, and I am eligible to retire and begin taking my pension payments in July 2023. I have heard some people say to take the lump sum distribution, and create your own pension/annuity, but the math doesn't seem to work out right for me. I will be 51 at that point, and likely moving to a different profession with an income to add to the pension payouts. The amount that I would receive as a lump sum would be approximately $210,000. That represents all of my contributions over the 28 years I have been teaching plus 4% interest per year. It does not include the contributions from my employer, as I am not entitled to take them if I elect for the lump sum. The pension option that I would choose is the reduced amount that would continue for my wife after my death. It is $3408 monthly, which comes to nearly $41,000 per year. There is no way that I could expect to earn that much on the lump sum of $210,000 to make that a logical choice, is there? Am I doing something wrong on the math? Planning Points Discussed Utilizing Time Efficiently Capital Appreciation Purchasing Power Other issues (IRAs, Inflation, Financial Goals, etc.) Timestamps: 3:54 - Pension Overview 6:37 - How to Determine the Best Choice 9:35 - Inflation Protection 11:46 - Importance of Your Situation 13:51 - Aligning Your Financial Goals  LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here

Scott and James discuss how to best track investment returns. Listener Question Does it make sense to track my investments in my 401K and Roth IRA purely off of the projected rate of return that people suggest (typically between 7-10%) or should I track my investments based on the inflation-adjusted return rate? I am asking this as a 23 year old, who sees a million dollars as a very attainable goal with a Roth and/or 401K but when you factor in inflation each year at say 3% that million dollars seems more challenging to accomplish. Should I track my portfolio values off of this “standard” 7-10% growth rate or should I take a more conservative approach and track them off of a (4-7%) growth rate so that I can have a better understanding of what I am on track for? Planning Points Discussed Utilizing Time Efficiently Capital Appreciation Purchasing Power Other issues (IRAs, Inflation, Financial Goals, etc.) Timestamps: 3:54 - Nominal v. Real Returns 6:37 - Investment Growth Example 9:35 - Inflation Protection 11:46 - Importance of Real Return 13:51 - Aligning Your Financial Goals  LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here

Scott and James discuss how to forecast and save for college. Listener Question My wife and I are 33 and have two children, ages 1 and 3. We'd like to save enough to pay for their college costs but we're not sure how to forecast what the cost of their college will actually be. College costs can vary widely, and have historically grown at different rates at different times. We're also not sure what type of college they will choose, or how much scholarship they might receive. Ideally we would save as tax-efficiently as possible (such as through a 529), but we're concerned about saving too much in a 529 in case they choose a less-expensive school, or get significant scholarship, etc. We're currently saving some in a 529 (to get our state tax deduction) and some in a regular taxable brokerage, which could either cover college costs or be used for other purposes down the road. But we're not sure how much in total to save since we're unsure what college will actually cost in 20 or so years. Can you help us with how to best plan for our children's college expenses? Planning Points Discussed Utilizing Time Efficiently Capital Appreciation Purchasing Power Other issues (IRAs, Inflation, Financial Goals, etc.) Timestamps: 3:54 - College Planning Overview 6:49 - Public College Planning 9:16 - How To Be On Track To Fund College 12:20 - Tax Benefits (state specific) 15:20 - Growth Example 18:31 - Funding Options 23:21 - Aligning Your Financial Goals  LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here

Scott and James discuss if you should borrow money to invest. Listener Question Currently have a 401k company match up to 7%. They also allow us to borrow against our 401k up to $50,000. Also have a Roth IRA but not able to make the max contribution. 401k loan is a 5% note on a 60 month term (only option) but maxes out at $50k and can have multiple loans against the 401k (only pay off early option is to pay note in full).  Knowing the risks of losing the job or leaving, we have a HELOC to bail us out in a pinch. Realizing we lose the compounding interest on the loan amount but taking that loan and putting it towards to Roth would offset that lost gain and help with my tax advantages when the withdrawal party starts all the while my interest payments are going back into the 401k.  My thoughts are to take out a loan each year to apply towards the Roth until I either max out the loan amount or I can make the full contribution amount again. Am I crazy to think this is a good idea? Planning Points Discussed Retirement Planning Utilizing Time Efficiently Capital Appreciation Purchasing Power Other issues (IRAs, Inflation, Financial Goals, etc.) Timestamps: 3:54 - Cash Flow 6:49 - HELOC Example 9:16 - RMDs (Required Minimum Distributions) 11:47 - Gross Income v. Net Income 14:18 - Retirement Savings 16:35 - Tax Optimization 19:05 - Aligning Your Financial Goals  LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here

Scott and James discuss the pros & cons of different savings accounts. Listener Question I'm hoping you could walk through the pros and cons of different higher-yield savings vehicles: high-yield savings accounts, money markets, and CDs. Especially how the planned federal interest rates raises may affect those. Planning Points Discussed Retirement Planning Utilizing Time Efficiently Capital Appreciation Purchasing Power Other issues (IRAs, Inflation, Financial Goals, etc.) Timestamps: 3:57 - Bank Lending 7:23 - Bank Differences 10:33 - Savings Rates 13:30 - How Banks Make Money 15:18 - Interest Rates 17:29 - High Yield Savings Accounts LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here

Scott and James discuss how much you need to retire. Listener Question I'm 55 years old and currently employed with $1.1 million in 401k, $150,000.00 in annuity fund.  Upon retiring I will also have a pension with medical, dental & optical coverage.  My yearly income is $120,000 & I’m looking to retire at 60 years old.  In your opinions does retiring comfortably in 5 years look reasonable? Planning Points Discussed Retirement Planning Utilizing Time Efficiently Capital Appreciation Purchasing Power Other issues (IRAs, Inflation, Financial Goals, etc.) Timestamps: 3:29 - Listener Info 6:06 - Living Expenses Today 8:37 - Retirement Expenses 11:20 - Social Security  13:30 - Financial Freedom 16:05 - Tax Planning Opportunities 18:17 - Withdrawal Rates LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here

Scott and James discuss the tradeoffs between investing in real estate and the stock market. Listener Question My wife and I just purchased our first home (30-yr fixed, low interest rate, strong housing market in suburbs of a major city).  As we start a family, we realize we'll likely need a larger home in 5-8 years.  Should we plan to purchase a second, larger home, while maintaining our current home as a rental property (which I assume requires less risky investments today), OR invest more aggressively today and plan to sell our current home when we upgrade (have only one house, no rental).  Hoping you can provide a framework to help think through potential returns/tradeoffs of each scenario.  For example, how to compare the return on a rental property (appreciation of property value and eventual sale) vs returns if the same money was invested in the market.  Also, imagine there is tradeoffs between liquidity of owning a rental vs investing in market. Our home is worth between $650-700k, interest rate 2.6%.  Unclear what rent we could expect, maybe around $3k/month. Planning Points Discussed Retirement Planning Utilizing Time Efficiently Capital Appreciation Purchasing Power Other issues (IRAs, Inflation, Financial Goals, etc.) Timestamps: 3:07 - Liquidity For a Purchase 6:27 - Multiple Mortgages 9:55 - Tax-Writeoffs 12:05 - Home Prices 16:17 - Comparing Stock Market v. Real Estate 18:22 - Net Worth  21:08 - Desire For Simplicity LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here

Scott and James discuss how to rebalance when tax implications are involved. Listener Question I'm 30 years old and have close to 1/2 million in taxable brokerage accounts.  While I was investing, I was not targeting a specific asset allocation, and now realize my portfolio is very heavily concentrated in domestic large cap stock funds.  My question is, how do I go about rebalancing to achieve a more diversified portfolio while considering the implications of taxes and market cycles? Planning Points Discussed Retirement Planning Utilizing Time Efficiently Capital Appreciation Purchasing Power Other issues (IRAs, Inflation, Financial Goals, etc.) Timestamps: 3:07 - Tax Planning  6:05 - Volatility Concerns 8:11 - Creative Planning 10:57 - When To Sell 13:30 - Example of Tax Implications 15:48 - Taxable Accounts 17:22 - Gifting For Tax Planning LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here

Scott and James discuss what to do when you receive a large windfall. Listener Question Can you provide (hypothetical) advice on how to handle a financial windfall? My wife and I are in our mid-thirties with one young child. She is a stay-at-home mom while I work in tech. My salary of approximately $130k covers all of our annual expenses in addition to 401k contributions (up to the amount needed to receive full employer matching). We also started contributing to a 529 plan for our son. We recently came into possession of $2.3M in concentrated stocks and bonds with unrealized capital gains of around $1.5M. Are there any no-brainer moves to make given our new financial position. Timestamps: 3:08 - Windfall Introduction 5:16 - Cost Basis Impact 7:21 - What Matters Most? 9:48 - Life Goals 12:22 - It's Not About Perfect 16:02 - Value of Diversification 17:18 - Aligning Your Values With Your Goals LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here

Scott and James discuss the best way to become a financial planner. Listener Question I was wondering if you could talk about the career path of a financial planner, more specifically a CFP who is an independent RIA. I am a college student studying finance looking to become a CFP, there seems to be many paths to take and it is a little confusing. Any tips on how to get valuable experience whether through summer internships or part time work in school? Planning Points Discussed Retirement Planning Utilizing Time Efficiently Capital Appreciation Purchasing Power Other issues (IRAs, Inflation, Financial Goals, etc.) Timestamps: 3:07 - Various Advisor Industries 4:40 - Scott's Introduction To Finance 7:02 - James Introduction To Finance 10:33 - It's More Than The Money 13:30 - Understanding The Textbook 16:05 - What Is An Associate Advisor? 19:51 - Who's The Right Fit? 24:30 - Transparency 27:28 - Aligining Your Financial Goals LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here

Scott and James discuss how to balance retirement savings with debt paydown. Listener Question I'm 36 years old with a wife, a 2.5 year old and hopefully a second child in the near future. I currently have a job with a non-matched 403b but it also currently offers a pension (and hopefully still will when I retire in 25-30 years). My wife's employer offers a matching 403b. I currently contribute 15% per pay period into my 403b and my wife about 11%. I’ve been working a few years longer than her and excluding my current 403b account, I have about $75k in an IRA from previous 401k rollovers (post-college thru taking my current job in the summer of 2018). I still have about $45k remaining in principle student loans at 4.35% fixed (8 years left on a 10-year refi loan). I graduated college in 2007 and have been paying my student loans every month since then. My current min monthly payment is $575. Does it make sense to cash out my IRA/rollover account and finally just payoff my student loan, pay off a small amount of credit card debt from a trip we took to Hawaii a few years ago, and ultimately free up some cash to increase my monthly 403b contribution, and build our emergency fund back up to a healthy level, especially as the cost of living increases and we plan to add another child to our family? Or is it absolutely insane to throw away $75k saved over the previous 10 years of my career? Planning Points Discussed Retirement Planning Utilizing Time Efficiently Capital Appreciation Purchasing Power Other issues (IRAs, Inflation, Financial Goals, etc.) Timestamps: 3:57 - Listener Question 4:56 - Pension Income 7:28 - Tax Implications 11:29- Paying Down Debt 14:18 - Refinancing Knowledge 16:22 - Unknown Expenses 19:08 - Aligning Your Financial Goals LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here

Scott and James discuss what people do for health insurance if they retire early. Listener Question I'm a 48 year old single woman who wants to retire in my mid 50's (or sooner) I have about $400,000 in investments of which only about 12% is in after tax savings I just started a new job making with bonus about $105,000 a year previously only made 55,000 my plan is to live on half my new income. I now max out my 401k, hsa, & Roth IRa and put the rest in my after tax brokerage (which was unable to do in the past). My FIRE # is 1.5 million my question is do you feel I have good plan and what do people do for health insurance if they retire in there mid 50's? Planning Points Discussed Retirement Planning Utilizing Time Efficiently Capital Appreciation Purchasing Power Other issues (IRAs, Inflation, Financial Goals, etc.) Timestamps: 3:57 - FIRE # 6:02 - Financial Planning Expenses 8:04 - Balancing Goals 10:25 - Early Retirement 16:54 - Time & Freedom 19:28 - Health Subsidies 22:05 - Aligning Your Financial Goals LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here

Scott and James discuss if you should save to a Deferred Compensation Plan after maxing out everything else. Listener Question My question is about non-qualified deferred compensation plans. I already max out my 401(k), megaback door (while we still can), Roth backdoor conversations, HSA, FSA, ESPP plan and my wife's SEP IRA and Roth. For the remaining cash I've typically invested in taxable accounts in dividend stocks for future income, but most recently have started using my company NCDC plan for part of salary and bonus. We are 50 YO and plan to retire in 10 years and elected a 10 year payout to minimize taxes in these remaining high earning years. There is also a likely chance that I change jobs every 2-3 years at this point which would potential trigger early distributions. What are your thoughts on NCDC plans and the distributions? Planning Points Discussed Retirement Planning Utilizing Time Efficiently Capital Appreciation Purchasing Power Other issues (IRAs, Inflation, Financial Goals, etc.) Timestamps: 3:13 - Listener Question 7:40 - Lifestyle Goals 10:46 - Retirement Planning 14:11 - Non-Qualified Deferred Compensation  17:36 - Job Changes 20:50 - Aligning Your Financial Goals   LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here

Scott and James discuss what to expect when you're expecting. Listener Question My wife and I are expecting, and I want to start planning from a financial perspective. I'm considering a 529; if I remember from a previous episode, you guys said you can start funding that before the child is born? I'm also looking into dependent care FSAs for child care expenses. If a kid is due in July, does it make sense to wait and enroll in the dependent care FSA then? Are there any other investment vehicle options to consider? Or general suggestions on cash to have on hand once a child is in the picture? Planning Points Discussed Retirement Planning Utilizing Time Efficiently Capital Appreciation Purchasing Power Other issues (IRAs, Inflation, Financial Goals, etc.) Timestamps: 3:40 - Income Changes 6:02 - Family Updates 10:18 - Lifestyle Changes 14:02 - 529 Plans 18:12 - HSA Benefits 19:29 - Aligning Your Financial Goals LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here

Scott and James discuss how to know if you're on track to retire. Listener Question I am 26 years old and have a TSP account valued at 20k, and a variety of stock/bold portfolios that are earmarked for different priorities that total to about 40k. I get a company match of up to 5% which I utilize up to that. I currently contribute 300 in addition to maxing out my Roth IRA that is valued around 12k. Now, assuming I continue this pace what would you say is the likelihood that I’ll be able to retire off of 60-70k a year? I have hesitations with blindly trusting a “4%” rule since when the study was done it was with the 5% safe rate of return from bonds back in the 90s. Thanks for your time! Planning Points Discussed Retirement Planning Utilizing Time Efficiently Capital Appreciation Purchasing Power Other issues (IRAs, Inflation, Financial Goals, etc.) Timestamps: 3:57 - Listener Question 6:02 - Inflation 9:30 - Employer Matching 11:40 - Time Horizon 14:18 - Lifestyle Changes 17:50 - Retirement Rules 23:22 - Aligning Your Financial Goals LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here

Scott and James discuss how to start the new year right. Planning Points Discussed Retirement Planning Utilizing Time Efficiently Capital Appreciation Purchasing Power Other issues (IRAs, Inflation, Financial Goals, etc.) Timestamps: 3:57 - Life's Considerations 6:02 - Intentional Living 9:30 - Retirement Goals 15:01 - Dream Lifestyle 16:55 - Assets 19:24 - Saving & Investing 21:22 - Aligning Your Financial Goals LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here

Scott and James discuss how to protect against inflation. Listener Question Can y'all do an episode about inflation? Planning Points Discussed Retirement Planning Utilizing Time Efficiently Capital Appreciation Purchasing Power Other issues (IRAs, Inflation, Financial Goals, etc.) Timestamps: 4:08 - Bond Returns 7:05 - Timing the Market 10:12 - Historical Inflation 13:34 - Bond Risk 16:23 - Downturns are Inevitable 19:04 - When should I have cash/bonds? 20:35 - Aligning Your Financial Goals LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here

Scott and James discuss what to know about IRA eligibility. Listener Question Question 1: I am wondering if I should open an IRA in addition to my 401k through work. My employer match in my 401k caps at $9,000. The only benefit I see of having an IRA is being able to direct the investments, but we are currently happy with the options offered by our employers. We prefer investing in ETFs and have a majority of our money in the S&P 500, with some diversification globally and in small/mid cap funds. I am 29 and my husband is 32. We both work in corporate jobs and have a combined income of nearly $300,000 with an additional $100,000 in bonuses, stock, and matching incentive pay. I have always operated of a mindset of 1/3 savings, 1/3 spending, and 1/3 taxes. We each max out our 401k’s (traditional), participate in employer stock purchase plans, and have a 529 plan for future college funds. The rest of our assets are in taxable brokerage accounts. We would like the flexibility to retire from corporate jobs in our 50’s. At some point, we may want to open our own small business. Question 2: I have a 401(k) with my current employer. If I were to get a new job (that also offers a 401k) should I roll my 401(k) into a new one with my new employer, or should I roll my 401(k) into a Roth IRA, and start a new 401(k) from scratch with my new employer? Someone told me this could be a good idea, but I have NO CLUE about investing and such so I’m not sure if this is a wise decision. PS. Please let me know if you include my answer on your show so I know when to listen! Thanks! Planning Points Discussed Retirement Planning Utilizing Time Efficiently Capital Appreciation Purchasing Power Other issues (IRAs, Inflation, Financial Goals, etc.) Timestamps: 3:57 - Income Limits 6:02 - Backdoor Roth Conversions 11:08 - Flexibility, Control, Investment Options 14:32 - Tax Planning 18:21 - Excess Contributions 18:50 - Traditional IRA Contributions 20:04 - Roth IRA Contribution Limits 24:08 - Aligning Your Financial Goals LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play.<

Scott and James discuss if you should do Roth Conversions in years where income is relatively low. Listener Question I am currently single and maxing out my 401k. In two more years I'll have been doing this and my Roth IRA for four years total. I plan on going back to training for one year and at that point it will drop me from the 37% tax bracket to 22%. My question is I currently contribute to a Roth 401(k) and I plan to stop doing that and just contribute fully to my 401(k), but in the year I earn less move everything to my Roth IRA, is this the right decision or should I keep contributing part of the Roth 401(k) and regular combined? Planning Points Discussed Retirement Planning Utilizing Time Efficiently Capital Appreciation Purchasing Power Other issues (IRAs, Inflation, Financial Goals, etc.) Timestamps: 3:57 - Retirement Contributions 7:07 - Moving Funds To Pre-Tax 10:27 - Contribution Limits 12:40 - Additional Savings 16:51 - Roth Conversions 18:47 - Tax-Gain Harvesting 20:09 - Aligning Your Financial Goals LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here

Scott and James discuss if you should cancel your existing whole life policy and buy term life insurance. Listener Question I have listened to your episodes about life insurance and whether or not it’s advisable to purchase a whole life policy. However, I’d be curious to hear what you think about a whole life policy that I bought about 5 years ago. It costs me a fixed $100/ month for a $100,000 policy. I am 36 years old, single and have no children. I would like to have a family one day, but I’m not sure it makes sense to continue with a whole life policy at this time. Would it make more sense for me to continue with this policy given that it is not hurting my financially, or would it be better to collect the cash value ($6,500) to contribute it to the small amount of remaining debt that I have and get a term life policy that will likely be much less expensive? If I do get a term life policy, how much would you recommend that I purchase? Planning Points Discussed Retirement Planning Utilizing Time Efficiently Capital Appreciation Purchasing Power Other issues (IRAs, Inflation, Financial Goals, etc.) Timestamps: 3:57 - What is Whole Life Insurance? 5:28 - When Do You Need Life Insurance? 9:30 - Term Life Insurance Benefits 11:32 - Growth Rates 13:47 - Why We Own Insurance 15:29 - Tax Planning 16:43 - Aligning Your Financial Goals   LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here

Scott and James discuss the new contributions limits (2022) and how that impacts our taxes. Listener Question Can I unwind a non- deductible IRA and revert it to a retail account? My CPA suggested I put 7k aside each year (I did it once) and then put it into a backdoor Roth. My income is high (we paid 51% in effective taxes last year) and I max out my 401k (no match) at work. But here is where it gets complicated- I have an IRA, Roth, SEP IRA (from a side consulting business) and now also the non deductible IRA all in Schwab in a mic of index funds and individual dividend stocks. But my employer’s 401 k plan (Transamerica) is terrible - high fees and not great fund options. I am worried about rolling my various retirement funds (about 400k for me) into Transamerica just to put 7 or 14 k into a backdoor Roth would cost le almost as luch in fees, not to mention oppty cost when forced to sell my holdings to conform to what Transamerica offers. Given this and the impending demise of the backdoor Roth, can I somehow convert my 7k back to a nonretirement holding? Planning Points Discussed Retirement Planning Utilizing Time Efficiently Capital Appreciation Purchasing Power Other issues (IRAs, Inflation, Financial Goals, etc.) Timestamps: 3:57 - Roth IRA Backdoor Considerations 6:02 - IRS Aggregation Rule 9:30 - Partner's Income 12:40 - Self-Employed Retirement Considerations 15:01 - Required Minimum Distributions 17:36 - Tax Planning 18:22 - Aligning Your Financial Goals   LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here

Scott and James discuss the new contributions limits (2022) and how that impacts our taxes. Listener Question My wife and I have two homes. One is our primary and the other is a weekend/getaway home. We have mortgages on each (each are 30-year fixed and below 3%). Our total monthly mortgage payment for both homes is 15.5% of our gross income. Does it make sense to take our extra cash and pay down the mortgages or to use that cash where it could earn more such as investments? Planning Points Discussed Retirement Planning Utilizing Time Efficiently Capital Appreciation Purchasing Power Other issues (IRAs, Inflation, Financial Goals, etc.) Timestamps: 3:26 - Income Considerations 6:28 - Outside Considerations 9:05 - Interest Rates 11:30 - Opportunity Cost 15:01 - Asset Allocation 18:04 - Borrowing Debt 19:52 - Aligning Your Financial Goals   LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here

Scott and James discuss how to invest at market all-time highs. Planning Points Discussed Retirement Planning Utilizing Time Efficiently Capital Appreciation Purchasing Power Other issues (IRAs, Inflation, Financial Goals, etc.) Timestamps: 3:12 - Negative Headlines 5:21 - Market Performance 8:53 - Example of Growth 11:01 - How Can We Position Our Investments Now? 13:01 - Time Horizon of Investments 17:09 - Why We Invest 18:54 - Aligning Your Financial Goals   LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here

Scott and James discuss where to invest for a Home, CD Ladders, and Contribution Rules. Listener Questions Can I max out both my Roth 401k contribution and my Roth IRA contribution in the same year? Example: I’m 57. 26 thousand plus 7 thousand = 33 thousand. Can I contribute 33 thousand to Roth retirement accounts in 2021? You have talked about saving vs investing based on time horizon and risk appetite. Im hoping you can talk more about savings options. I heard about the concept of CD ladders and thought it may be a good approach to earmark my annual property taxes and insurance bills. I am looking for advice regarding where to invest savings for a down payment for a first home. My goal is to be able to make an offer for a home in about five years. Some background about me: I am in my late 30's, debt free, married with one child and and work a decent paying corporate job. I plan continue to max out my 401K and divert all my other savings to the down payment goal (20-30 percent of after tax income). Would it make sense to put this savings into a relatively liquid real estate investment like a REIT? In other words, an investment that might track the cost of the future purchase I plan to make. If the housing market rises, so too will my investment and I will be better positioned to make this higher down payment. If the housing market tanks, the investment will look bad, but in theory I won't need as much money for a given house. Planning Points Discussed Retirement Planning Utilizing Time Efficiently Capital Appreciation Purchasing Power Other issues (IRAs, Inflation, Financial Goals, etc.) Timestamps: 3:12 - Roth 401(k) & Roth IRA 6:00 - CD Ladders 10:09 - How To Save For A Home 12:19 - REIT Indices 15:45 - Performance  18:53 - Time Horizon 20:44 - Down Payment Goals 23:50 - Aligning Your Financial Goals   LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer?

Scott and James discuss the new contributions limits (2022) and how that impacts our taxes. Listener Question I am a new small business owner and have just begun a 401k, I have a roth ira, 529 for my child, and my own investment portfolio. I am still confused on how I should vary my allocation based on the type of fund- such as my roth versus traditional versus normal investments, in order to maximize the benefits of each separate account. I also was hoping you could do an episode solely on how taxes work and the differences between them. Planning Points Discussed Retirement Planning Utilizing Time Efficiently Capital Appreciation Purchasing Power Other issues (IRAs, Inflation, Financial Goals, etc.) Timestamps: 3:12 - New Contributions 5:26 - IRAs & Roth IRAs 8:53 - How Taxes Work 12:57 - Cash Flow  15:01 - Order of Operations 18:04 - How Can I Maximize Tax Savings? 20:27 - 401(k) Contribution Increase 22:40 - Aligning Your Financial Goals   LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here

Scott and James discuss if you should invest in Whole Life insurance after maxing out your 401(k). Listener Question I was recently advised to get a life insurance retirement plan by my adviser. I currently max out my IRA contribution, FSA, 401k to ~56k and have extra money left over. I’m single and don’t have kids to warrant a life insurance plan per se but it sounded intriguing with the extra cash i have leftover. I comfortably have an extra 3-4 k every month leftover. I’m a bit skeptical of the adviser since he contacted me supposedly from a coworker who gave him my name. Planning Points Discussed Retirement Planning Utilizing Time Efficiently Capital Appreciation Purchasing Power Other issues (IRAs, Inflation, Financial Goals, etc.) Episodes Mentioned What Tax-Efficient Investment Strategies Exist After I Max My 401(k)? Timestamps: 1:30 - Submit Your Questions! 3:05 - Selling v. Advising 7:25 - How Are Insurance Salesman Compensated? 10:28 - Understand Your Goals First 13:43 - Self-Insured 15:37 - Opportunity Cost 16:47 - Tax-Free Loans 17:15 - After-Tax Benefits 19:32- Understanding Incentives 21:02- Aligning Your Financial Goals   LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here

Scott and James discuss when it makes sense to start redirecting retirement savings to other account types. Listener Question 1. Currently, I'm 47 and I have been maxing out my retirement accounts. I believe that I am in good position for when I retire with the amount I have and the amount it will grow in next 15 years. My question is if it is foolish to now build up a non retirement account instead of continuing to pour money into the retirement account. I realize I'd be giving up tax benefits, but right now I have very little flexibility for the next 13 years. 95% of my net value is either in retirement accounts or my house. I do have an emergency fund for 6 months in cash. I'm thinking since my retirement funds are in good shape that I should start building some assets/brokerage account outside of retirement in case I want to retire early or work part time or want/need money for any reason before I'm 59. What's your thoughts on if there is a point that you should stop worrying about retirement accounts and their tax benefits and building for the years before retiring? Planning Points Discussed Retirement Planning Utilizing Time Efficiently Capital Appreciation Purchasing Power Other issues (IRAs, Inflation, Financial Goals, etc.) Timestamps: 2:35 - Introduction 4:15 - Optimize Your Balance Sheet 5:05 - Individual Stock Example 6:20 - Liquidity 8:26 - Rule of 55 10:06 - Tax Planning 14:23 - Flexibility Benefits of a Bridge Account 15:44 - Roth Conversions 17:23 - Supplemental Accounts 18:24 - Please keep sharing! 19:00 - Aligning Your Financial Goals   LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submi

Scott and James discuss the important milestones you should be aware of. Planning Points Discussed Retirement Planning Utilizing Time Efficiently Capital Appreciation Purchasing Power Other issues (IRAs, Inflation, Financial Goals, etc.) Timestamps: 2:00 - Introduction 4:29 - Dependent Care 5:50 - Tax Credits 6:58 - Investing v. Gambling 8:02 - UGMA / UTMA 10:25 - Kiddie Tax 12:47 - Catch-up Contributions 15:40 - Social Security Benefits 17:55 - Qualified Charitable Distributions 19:00 - Charitable Giving Strategy 20:27 - RMDs (Required Minimum Distributions) 21:51 - Aligning Your Financial Goals   LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here

Scott and James discuss how to make sure you aren't leaving free money on the table during open enrollment. Planning Points Discussed Retirement Planning Utilizing Time Efficiently Capital Appreciation Purchasing Power Other issues (IRAs, Inflation, Financial Goals, etc.) Timestamps: 1:30 - Introduction 2:57 - Health Insurance Considerations 6:15 - HSA v. FSA 7:25 - Life Insurance 10:06 - Disability Insurance 11:48 - 401(k) Considerations 14:53 - RSUs (Restricted Stock Units) 16:35 - Tax Strategy 17:15 - Deferred Compensation 18:25 - Estate Planning 22:02- Aligning Your Financial Goals   LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here

Scott and James discuss what you should do when you have large unrealized gains in a concentrated stock holding. Listener Question 1. My wife and I have been blessed with good fortune through our ESPP and RSU programs across 4 different employers. Having always been a buy-and-hold investor, these companies now have significant unrealized capital gains and represent almost 50% of portfolio value and a strong dividend cash flow that could provide income during a job loss. We live in CA and are in top tax brackets and would like to effectively diversify without loosing over 50% to taxes. 2. I currently have around 4,500 shares of AAPL. This makes up about 54% of my total stocks. I have 2,200 shares in my investment (non-retirement) account which makes up 100% of this total. I want to reallocate some of the AAPL, but it will have serious tax implications especially with my investment account. What do you recommend? Planning Points Discussed Retirement Planning Utilizing Time Efficiently Capital Appreciation Purchasing Power Other issues (IRAs, Inflation, Financial Goals, etc.) Timestamps: 1:30 - Introduction 3:27 - First Listener Question  5:05 - Individual Stock Example 6:58 - Investing v. Gambling 9:05- Taxes 9:43 - Cost Basis 12:15 - Stock Option Tax Planning 14:22 - Peace of Mind & Tax Strategy 17:55 - Lowest Cost Basis v. Highest Cost Basis 19:00 - Charitable Giving Strategy 21:55 - Second Listener Question 23:00 - Retirement Account Tax Benefits  24:53 - Aligning Your Financial Goals   LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one her

Scott and James discuss how you can take advantage of tax loss and tax gain harvesting. Planning Points Discussed Retirement Planning Utilizing Time Efficiently Capital Appreciation Purchasing Power Other issues (IRAs, Inflation, Financial Goals, etc.) Timestamps: 1:30 - Scott's eldest son scores a goal & James surfs! 2:42 - When Should I Start Saving / Investing? 4:10 - Tax Loss Harvesting 6:13 - Taking Advantage of Losses 6:26 - What is a Wash Sale? 8:41 - Capital Gains v. Ordinary Income 10:16 - Does Your Financial Advisor Ask For Your Tax Return? 13:00 - Tax Gain Harvesting 15:55 - Tax Gain Harvesting & Roth Conversions 17:23 - Aligning Your Financial Goals   LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here

Scott and James discuss if you should pursue a dividend and sector investment strategy. Listener Question 1. Can we talk about dividends and dividend stocks? Is it a wise strategy to invest in those stocks that pay out dividends to shareholders? 2. I have been looking at investing in ETFs and I have seen number of ETFs under the label of Sector and Specialty ETFs (that is how Vanguard labels them). Could we talk more about these? I would be interested in investing in some of these- but I am not sure if it is wise? Planning Points Discussed Retirement Planning Utilizing Time Efficiently Capital Appreciation Purchasing Power Other issues (IRAs, Inflation, Financial Goals, etc.) Timestamps: 1:30 - Introduction 2:16 - Dividend Stocks 4:35 - Dividend Example 6:15 - Total Return of an Investment 8:49- Downturns & Dividends 11:48 - Is It Bad If Companies Don't Pay Dividends? 15:11 - Reinvesting Dividends 18:37 - U.S. Stock Categories 20:54 - Driving Your Returns Over Time 22:36 - Strategies to Fund College 23:18 - Aligning Your Financial Goals   LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here

Scott and James discuss what the key things are to focus on when you're just getting started. Planning Points Discussed Retirement Planning Utilizing Time Efficiently Capital Appreciation Purchasing Power Other issues (IRAs, Inflation, Financial Goals, etc.) Timestamps: 1:30 - Introduction 2:42 - When Should I Start Saving / Investing? 4:30 - Why All Debt Isn't Equal 8:37 - Paying Yourself First 10:16 - Taking Advantage of Free Money (Employer Match) 12:18 - Loan Forgiveness 14:04 - Life Insurance 16:02 - How Much Do I Have To Invest To Reach $1,000,000? 17:23 - Aligning Your Financial Goals   LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here

Scott and James discuss multiple listener questions regarding tracking 401k contributions, ESPP savings, and investing after getting a late start. Planning Points Discussed Retirement Planning Utilizing Time Efficiently Capital Appreciation Purchasing Power Other issues (IRAs, Inflation, Financial Goals, etc.) Timestamps: 1:49 - Listener Question 2:57 - Tax Implications of Retirement Accounts 4:05 - Rollovers: 401(k)s to IRAs (and Roth!) 7:40 - ESPP (Employee Stock Purchase Plan) 10:47 - Risk & Return Correlations 12:41 - When Does It Make Sense to Diversify? 15:37- What Can You Control? 17:54 - Maximizing Social Security 20:36 - When Saving Is More Important Than Compounding 23:07 - Aligning Your Financial Goals   LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here

Scott and James discuss how to upsize homes before selling your current home. Planning Points Discussed Retirement Planning Utilizing Time Efficiently Capital Appreciation Purchasing Power Other issues (IRAs, Inflation, Financial Goals, etc.) Timestamps: 1:30 - Introduction 3:28 - Finding Your Dream Home 4:43 - What Information Does A Bank Want? 9:14 - What Funds Should I Use For A Down Payment? 10:30 - Understanding Margin Calls 11:48 - What is a Mortgage Recast? 13:05 - Should I Do A Cash-Out Refi? 16:00 - Balancing Retirement Goals 19:00 - UTMA v. UGMA 22:36 - Strategies to Fund College 23:50 - Aligning Your Financial Goals   LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here

Scott and James discuss how to balance retirement income and legacy goals. Planning Points Discussed Retirement Planning Utilizing Time Efficiently Capital Appreciation Purchasing Power Other issues (IRAs, Inflation, Financial Goals, etc.) Timestamps: 1:30 - Introduction 2:51 - Rebalancing 6:05 - Legacy Planning 8:41 - Balancing Cash Preserves 12:19 - Asset Class Variations 18:48 - Estate Planning Opportunities 22:23 - Utilizing Leverage of Time 26:07 - Estate Tax & Gift Tax Penalties 18:54 - Diversification Benefits 30:12 - Aligning Your Financial Goals   LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here

Scott and James discuss how to incorporate real estate as part of your retirement plan. Planning Points Discussed Retirement Planning Utilizing Time Efficiently Capital Appreciation Purchasing Power Other issues (IRAs, Inflation, Financial Goals, etc.) Timestamps: 1:30 - Introduction 3:22 - Costs of Real Estate 5:42 - Quantifying Your Real Estate Asset 8:30 - How To Determine If You Should Incorporate Real Estate 10:50 - What Are My Expenses With Real Estate? 13:14 - Alternative Real Estate Ownership Options 16:00 - What Are Your Goals Behind Owning Real Estate? 17:39 - Taxation of Real Estate 18:54 - Diversification Benefits 20:04 - Aligning Your Financial Goals   LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here

Scott and James discuss the best way to invest your portfolio throughout retirement. Planning Points Discussed Retirement Planning Utilizing Time Efficiently Capital Appreciation Purchasing Power Other issues (IRAs, Inflation, Financial Goals, etc.) Timestamps: 1:30 - Introduction 2:45 - Target-Date Funds 4:37 - Bucket Strategy v. Total Return 8:21 - What is a Sustainable Withdrawal Rate? 11:54 - Retirement Funds Aren't All Created Equal 14:36 - What Portfolio Mix Is Right For Me? 16:25 - Benefits of Owning Multiple Funds 17:51 - Aligning Your Life With Your Financial Goals   LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here

Scott and James discuss how to view your entire financial picture and how you can align it with your financial goals. Planning Points Discussed Retirement Planning Utilizing Time Efficiently Capital Appreciation Purchasing Power Other issues (IRAs, Inflation, Financial Goals, etc.) Timestamps: 1:30 - Introduction 2:30 - Understanding Your Net Worth 6:45 - Stock Market Volatility 9:07 - What Metrics Should I Focus On? 11:18 - Should I Decrease My Net Worth Intentionally? 13:40 - Utilizing Debt 14:09 - Inputs v. Outputs 16:15 - Aligning Your Financial Goals   LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here

Scott and James discuss how to prioritize conflicting financial strategies. Planning Points Discussed Retirement Planning Utilizing Time Efficiently Capital Appreciation Purchasing Power Other issues (IRAs, Inflation, Financial Goals, etc.) Timestamps: 1:30 - Introduction 3:02 - Asset Location v. Asset Allocation 5:38 - International Investments 8:21 - Taxation of Retirement Accounts 11:04 - Retirement Account Penalties 14:36 - Focusing On Your Goals 17:31 - Municipal Bond Taxation 20:06 - Importance of Your Time Horizon 21:24 - Aligning Your Financial Goals   LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here

Scott and James discuss how to invest after maxing everything else out. Planning Points Discussed Retirement Planning Utilizing Time Efficiently Capital Appreciation Purchasing Power Other issues (IRAs, Inflation, Financial Goals, etc.) Timestamps: 1:30 - Introduction 3:52 - Investing In Real Estate 4:45 - How To Use Your Balance Sheet To Achieve Your Goals 8:30 - What Is A Great Rate of Return? 12:15 - What Is Passive Real Estate Investing? 14:30 - Aspects of Real Estate Investing 16:00 - Using Leverage For Real Estate 16:54 - What Are The Risks Of Investing In Real Estate? 20:44 - How To Invest Your Time, Energy & Talent 25:31 - Aligning Your Financial Goals   LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here

Scott and James discuss how how to plan for your goals when you got a late start. Planning Points Discussed Retirement Planning Utilizing Time Efficiently Capital Appreciation Purchasing Power Other issues (IRAs, Inflation, Financial Goals, etc.) Timestamps: 1:30 - Listener Question 4:53 - Investing In The Market 6:20 - What Is My Time-Horizon? 7:20 - The Power of Consistent Saving  12:34 - Am I Too Old To Invest Aggressively? 15:35 - What Other Assets Can I Use To Retire? 19:00 - Retirement Expenses Example In Retirement 20:51 - Aligning Your Financial Goals   LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here

Scott and James discuss how to view your entire financial picture and how you can align it with your financial goals. Planning Points Discussed Retirement Planning Utilizing Time Efficiently Capital Appreciation Purchasing Power Other issues (IRAs, Inflation, Financial Goals, etc.) Timestamps: 1:30 - Introduction 2:30 - Gross Income v. Net Income 5:49 - What Percentage Are You Saving? 7:10 - How To Save For Your Different Goals 9:07 - What Is My Saving Rate? 12:18 - Living vs. Spending  14:47 - How To View Your Taxes 16:54 - What Do I Need To Focus On? 18:55 - Aligning Your Financial Goals   LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here

Scott and James discuss different indexes, both what they mean and why they're important to you as an investor.  Planning Points Discussed Retirement Planning Utilizing Time Efficiently Capital Appreciation Purchasing Power Other issues (IRAs, Inflation, Financial Goals, etc.) Timestamps: 1:30 - Listener Question 3:30 - What Makes Up The Global Market? 5:35 - What Does It Mean To Invest In "The Market"? 6:15 - How Is A Value Of A Company Determined? 10:11 - Russell 2000 vs. Russell 3000 - What's Different? 14:47 - How Do I Invest In The Developed Markets? 18:37 - What Are The Core Indexes? 19:55 - Aligning Your Financials With Your Goals   LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here

Scott and James discuss how this political climate impacts our investments. Planning Points Discussed Retirement Planning Utilizing Time Efficiently Capital Appreciation Purchasing Power Other issues (IRAs, Inflation, Financial Goals, etc.) Timestamps: 1:30 - Listener Question 3:30 - How Should Politics Impact My Investment Strategy? 6:04 - Why Are We Investing? 8:35 - The Power of The S&P 500 12:18 - What Crises Tell Us About Investing 14:47 - What Is A Risk Premium? 16:54 - What Do I Need To Focus On? 18:55 - Aligning Your Financial Goals   LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here

Scott and James discuss whether or not you should be saving on taxes now or in the future. Planning Points Discussed Retirement Planning Utilizing Time Efficiently Capital Appreciation Purchasing Power Other issues (IRAs, Inflation, Financial Goals, etc.) Episodes Mentioned Episode 6: To Roth or Not to Roth? Timestamps: 1:30 - Listener Question 3:30 - Should I Invest In A Roth IRA? 5:45 - How Does A Traditional IRA Work? 7:36 -  How Does A Roth IRA Work? 9:47 - How Should I Invest As Tax Brackets Change? 11:27 - How Do Tax Brackets Work? 16:55 - Will I Be In A Larger Tax Bracket In The Future? 21:25- Aligning Your Financial Goals   LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here

Scott and James discuss where you should save your extra income. Planning Points Discussed Retirement Planning Utilizing Time Efficiently Capital Appreciation Purchasing Power Other issues (IRAs, Inflation, Financial Goals, etc.) Timestamps: 1:30 - Listener Question 3:30 - Where Should I Save Extra Income? 5:45 - Long-Term v. Short-Term Savings 8:05 -  Education Funding 9:47 - How To Think About "Liquidity" 12:21 - Should I Invest In A SEP IRA or Roth IRA? 13:00 - Flexibility v. Tax Benefits 19:20 - Aligning Your Financial Goals   LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here

Scott and James discuss how to balance cash savings & long-term investing. Planning Points Discussed Retirement Planning Utilizing Time Efficiently Capital Appreciation Purchasing Power Other issues (IRAs, Inflation, Financial Goals, etc.) Timestamps: 1:30 - Introduction 3:40 - How To Allocate To Different Goals 7:15 - Should I Invest For Short-Term Goals? 8:24 - Importance of Different Accounts 13:58 - Portfolio Diversification 19:32 - How Do I Maximize Returns? 25:06 - Understanding Why We Invest 26:15 - Aligning Your Finances With Your Life LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here

Scott and James reflect on the first 100 episodes of the Real Personal Finance Podcast. Planning Points Discussed Retirement Planning Utilizing Time Efficiently Capital Appreciation Purchasing Power Other issues (IRAs, Inflation, Financial Goals, etc.) Episodes Mentioned: Episode 83: 4 Things You Can Invest In Episode 16: Budgeting Sucks, Do This Instead Timestamps: 1:30 - Introduction 4:15 - The Magic of Compounding 5:45 - Which Episode Received The Most Downloads? 7:20 -  Understanding Your Vision 9:14 - Where Do I Start With My Financial Journey? 12:02 - The Power of Automation 15:10 - How We Started The Podcast 15:45 - Thank You Listeners! LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here

Scott and James discuss how to save for a home in this crazy real estate market. Planning Points Discussed Retirement Planning Utilizing Time Efficiently Capital Appreciation Purchasing Power Other issues (IRAs, Inflation, Financial Goals, etc.) Timestamps: 1:30 - Listener Question 3:30 - Retirement Accounts 5:25 - Cost Basis Example 7:50 -  Diversification of Investing 10:20 - Cash v. Bonds 13:00 - Diversification Benefits 15:10 - Understanding Costs of Home Ownership 17:50 - What Mortgage Can You Afford? 20:00 - Aligning Your Financial Goals LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here

Scott and James discuss the pros and cons of moving to another state to save money in order to retire early. Planning Points Discussed Retirement Planning Capital Appreciation Purchasing Power Other issues (IRAs, Inflation, Financial Goals, etc.) Timestamps: 1:30 - Listener Question 2:25 - Savings Rates 3:30 - Moving For Financial Reasons 7:00 -  Longevity v. Financial Impacts (short-term) 9:50 - What Do You Really Want? 11:31 - Aligning Your Financial Goals 12:45 - Building Financial Habits 13:33 - Do A "Test-Run" 14:30 - Overview   LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here

Scott and James discuss how best to balance debt paydown, savings, and long-term investing. Planning Points Discussed Retirement Planning Capital Appreciation Purchasing Power Other issues (IRAs, Inflation, Financial Goals, etc.) Episodes mentioned: Episode 72: Better Investor Series: Understanding Asset Allocation Episode 93: Should I Front Load Retirement Accounts When I'm Young? Timestamps: 2:30 - Listener Question 3:41 - Managing Debt 6:20 - How To Pay Off Debt 8:22 - Investing For Your Goals 9:24 - Why Credit Matters 11:54 - The Ups & Downs of the Stock Market 13:42 - What's Your Time Horizon? 15:53 - What's Your Risk Tolerance? 16:15 - Saving For Your Goals 18:54 - Overview LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here

Scott and James discuss whether or not you should give your 4 year old a credit card. Planning Points Discussed Retirement Planning Utilizing Time Efficiently Capital Appreciation Purchasing Power Other issues (IRAs, Inflation, Financial Goals, etc.) Timestamps: 1:30 - Listener Question 3:05 - Determining Your Credit Score 6:20 - Credit Utilization 7:00 -  10 years vs. 34 years of Saving 9:24 - Why Credit Matters 11:11 - How To Teach Kids About Money 12:45 - Building Financial Habits 13:00 - Using "FamZoo" - Preparing Kids For Finances 15:10 - Aligning Your Financial Goals 16:30 - Overview   LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here

Scott and James discuss what to do when you have "too much cash". Planning Points Discussed Retirement Planning Utilizing Time Efficiently Capital Appreciation Purchasing Power Other issues (IRAs, Inflation, Financial Goals, etc.) Timestamps: 1:30 - Celebration of 100,000 downloads 3:30 - Rationality of Investing 5:45 - What's The Right Solution For You? 7:50 -  Determining Your Emergency fund 9:33 - When Is Cash "Too Much Cash"? 12:24 - Assigning Ideas To Your Cash 14:00 - How Would I Feel If My Mortgage Was Paid Off? 15:43 - Aligning Your Finances With Your Life   LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here

Scott and James discuss when it's best for people to consider hiring a financial planner. Planning Points Discussed Retirement Planning Tax Planning Capital Appreciation Purchasing Power Other issues (IRAs, Inflation, Financial Goals, etc.) Episodes Mentioned Episode 56: What Is The Value Of Working With A Financial Planner? Episode 57: What Questions Should I Ask When Hiring A Financial Planner? Timestamps: 2:00 - Why Hire A Financial Planner? 6:00 - How Advisors Are Different 9:30 - Tax Planning 13:11 - Emotional Thinking 15:23 - What Is Your Financial Strategy? 19:16 - Not Everyone Needs A Financial Planner 22:35 - Peace of Mind 24:32 - Finding The Right Planner For You 25:10 - Overview   LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here

Scott and James discuss whether or not you should front load retirement accounts while you're young. Planning Points Discussed Retirement Planning Utilizing Time Efficiently Capital Appreciation Purchasing Power Other issues (IRAs, Inflation, Financial Goals, etc.) Timestamps: 1:30 - Listener Question 3:30 - Retirement Accounts 5:45 - Front-Loading Retirement Accounts 7:00 -  10 years vs. 34 years of Saving 10:10 - Non-Financial Compounding 12:05 - Aligning Your Financial Goals  13:00 - Overview of Opportunity Costs 15:10 - Understanding Your Expenses   LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here

Listener Question: I'm a US citizen living abroad. I started listening to your podcast when I hit 30. Alas, it was time to get my ducks in a row. I've followed your advice to open an IRA and a few online CDs, I appreciate the gentle mindset shift your podcast has on me. Recently, when I told a friend I planned to contribute to my IRA, he warned me not to do that. He warned that if I contributed to my IRA with income earned and taxed overseas - income protected from double taxation by the foreign earned income exemption, then I would have to pay US taxes on my full income earned and taxed aboard.  Can income earned and taxed overseas not be contributed to an IRA without trigger full overseas income taxation? If yes, what tax-advantaged options does a US citizen have for income earned overseas? Guest Interviewer Connect with Ashley Murphy, CFP®, AIF® Arete Wealth Strategists Global Financial Planning Institute   Planning Points Discussed Tax Planning Retirement Planning Purchasing Power Other issues (IRAs, Inflation, Financial Goals) Timestamps: 2:30 - Introduction & Listener Question 4:30 - IRA vs. Roth IRA Benefits 7:00 - Retirement Planning For Your Country 9:47 - Citizen-Based Taxation 11:25 - Foreign Earned Income Exemption 12:12 - Taxation Dependent on Type of Income 13:00 - Real Estate Income v. Portfolio Income  14:17 - Tax Implications of Dual-Citizenship 15:30 - Overview   LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here

Listener Question How do immigrants should strategize investing when there is a real possibility of going back to home country because of work visa denial? Should we continue to invest in the states or invest offshore where we would retire? Thank you. I have been living in the United States for 11 plus years now. Because I am an immigrant, I did not invest in 401k until 2015. But again, I was just contributing 6% to get employer match. I started my financial independence journey a year back. I maxed my 401k, contributed to Roth IRA. Thank you for the wonderful podcast to inspire millions of listeners.  Guest Interview Connect with Ashley Murphy, CFP®, AIF® Arete Wealth Strategists Global Financial Planning Institute  Planning Points Discussed Tax Planning Retirement Planning Purchasing Power Other issues (IRAs, Inflation, Financial Goals) Timestamps: 2:00 - Introduction to Guest Interview 5:30 - International v. Cross-Border Financial Planning 8:27 - Every Country is Different 7:00 - Why the 4% Withdrawal Rule is Conservative 8:00 - When Can I Ensure I Can Retire? 12:30 - Tax Implications  13:00 - Foreign Tax Credits 17:37 - Roth IRAs for Dual Citizens 22:00 - How to Avoid Pitfalls 22:51 - PFIC (Passive Foreign Investment Company) 28:30 - Overview   LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website

In this episode James and Scott discuss how to determine taxes owed on RSUs and ESPPs. Questions discussed: What are the tax implications of my stock options? When is the best time to exercise my options? How do I maximize my options? What is the best approach for my individual situation? Planning Points Discussed Tax Planning Retirement Planning Portfolio Management Aligning Your Investments with Financial Goals Timestamps: 2:30 - RSUs & ESPPs 3:25 - Vesting Period 5:32 - How Best To Navigate Stock Options 7:02 - "Sell to Cover" 10:20 - How To Minimize Risk  13:25 - Tax Arbitrage With Stock Options 17:15 - Tax Implications  19:33 - Aligning Goals with Your Finances   LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here

In this episode James and Scott discuss whether or not it's possible to overfund retirement, and what you can do to avoid doing so. Questions discussed: How much is enough when it comes to funding for retirement? When can I stop funding for retirement? What is the best approach for my individual situation? Planning Points Discussed Tax Planning Retirement Planning Portfolio Management Aligning Your Investments with Financial Goals Timestamps: 2:30 - Listener Question 4:00 - Should I Max Out My Retirement Accounts? 6:13 - How Much Is Too Much For Retirement? 7:30 - Historical Performance: Lump-Sum vs. Dollar-Cost Averaging 10:20 - Importance of Balance Sheet 13:25 - How To Use RMDs In Retirement 15:25 - Aligning Goals with Your Finances   LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here

In this episode James and Scott discuss whether or not an MBA is worth it and how best to prepare financially. Questions discussed: Is an MBA worth it? What's the best way to prepare financially for an MBA? What are the benefits of an MBA? What do I want my MBA to do for me?  Planning Points Discussed Personal Development Portfolio Management Aligning Your Investments with Financial Goals Timestamps: 2:30 - Listener Question 4:02 - Investing In Personal Education 5:00 - Is an MBA a Worthy Investment? 6:20 - Investing To Pay For an MBA 8:04 - How To View Student Loans 9:35 - How Much Debt Is Too Much Debt? 11:00 - Finding Your "MBA" Mentor 12:30 - Aligning Your Money With Your Life   LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here

In this episode James and Scott discuss whether or not you should invest all at once (lump-sum) or invest smaller amounts over a period of time (dollar-cost average). Questions discussed: Should I invest when the market is at all-time highs? When is the best time to invest? What is the best approach for my individual situation? Articles Mentioned: Article Reference- Dollar-Cost Averaging vs. Lump-Sum (Of Dollars & Data) Planning Points Discussed Tax Planning Retirement Planning Portfolio Management Aligning Your Investments with Financial Goals Timestamps: 2:30 - Lump Sum v. Dollar-Cost Averaging 3:25 - What is Lump-Sum Investing? 5:32 - Can You Time The Market? 7:30 - Historical Performance: Lump-Sum vs. Dollar-Cost Averaging 10:20 - How To Minimize Risk  13:25 - What's Your Dollar-Cost Average "Policy"? 15:20 - Aligning Goals with Your Finances   LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here

In this episode James and Scott discuss whether or not you should apply extra cash to paying down the mortgage. Questions discussed: What should I do with extra cash? Should I apply extra cash to my mortgage or should I invest the cash? Is paying down the principal of my mortgage the most wise use of extra cash? How does paying down my mortgage impact my overall financial situation? Planning Points Discussed Tax Planning Retirement Planning Real Estate Aligning Your Investments with Financial Goals Timestamps: 2:30 - Listener Question 4:12 - Pay Down Mortgage or Invest? 6:21 - When Should I Refinance? 8:30 - Backdoor Roth Contributions 12:20 - How To Maximize 401(k)s 15:50 - Aligning Your Money With Your Life   LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here

In this episode James and Scott discuss Gamestop Stock, AMC, Reddit, Hedge Funds, and how to think about "hot" stocks as an investor. Questions discussed: Should I invest in GameStop, AMC, etc.? When do I know it's best to buy or sell? What does the halt of trading in Robinhood mean for the financial services industry? How much of my portfolio should I allocate to investing in individual stocks? Planning Points Discussed Investment Planning Retirement Planning Tax Strategies Aligning Your Investments with Financial Goals Timestamps: 1:30 - Investing vs. Speculation 4:12 - Wealth Accumulation: Short-Term & Long-Term 6:21 - Maximizing Wealth 8:30 - Gambling or Informed Investing: What's the Difference? 12:49 - How Likely Is One Company To Go Out Of Business? 15:50 - Aligning Your Money With Your Life 17:20 - How Investing Has Changed   LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here

In this episode James and Scott discuss the difference between a Traditional IRA & Roth IRA and which may be ideal for you based on your individual situation. Questions discussed: Are you hoping to lower your taxable income today? Do you think your income will rise over the course of your lifetime? When does it make most sense to use a Roth IRA vs. Traditional IRA? How should I invest in my Roth IRA or Traditional IRA? Planning Points Discussed Tax Planning Retirement Planning Roth IRA vs. Traditional IRA Aligning Your Investments with Financial Goals Timestamps: 2:30 - Listener Question 4:35 - Pre-tax vs. Post-tax Contributions 7:51 - IRA vs. Roth IRA Tax Implications 9:30 - Having an Accountability Partner 10:11 - 401(k) vs. Roth 401(k)  15:50 - Aligning Your Money With Your Life   LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here

Scott and James discuss 4 things you can do to invest in your personal and financial growth and outline the steps involved to reach them. Planning Points Discussed Retirement Planning Utilizing Time Efficiently Capital Appreciation Purchasing Power Other issues (IRAs, Inflation, Financial Goals, etc.) Timestamps: 3:35 - Investing: Time Horizon 5:54 - Timeblocking 8:30 - Time & Financial Journey 11:41 - Investing In Yourself 15:00 - Personal & Financial Goals 17:47 - Aligning Your Financial Goals  18:00 - What Is Essential To You?   LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here

What is a sustainable withdrawal rate in retirement? To put it in simple terms, it depends. Today we explain where the 4% withdrawal rate comes from and how it may apply to you and your ability to retire without worry. From new investors to those more well-seasoned, we discuss which factors you should consider when deciding what withdrawal rate will ensure you have a comfortable retirement. Planning Points Discussed Tax Planning Retirement Planning Capital Preservation Rule Purchasing Power Other issues (IRAs, Inflation, Financial Goals) Timestamps: 2:00 - Overview of Withdraw Rates 2:30 - What is the 4% Withdrawal Rate? 4:00 - Success Rates of Retirement  7:00 - Why the 4% Withdrawal Rule is Conservative 8:00 - When Can I Ensure I Can Retire? 11:21 - Capital Preservation Rule 14:45 - What Is A Sustainable Growth Rate For Me? 20:10 - The Mix of Growth & Income Assets In Retirement   LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here

In this episode of the podcast, we have a listener question: I am about to come into a decent sum of money from selling a rental property. I’m 30 years old, invest 22 percent into my 401k (that has a balance of 45k currently). My plan was to invest this money in a total market index fund and an international index fund. Is this my best option? I also have a house that I owe about 215k on. Thank you in advance! Planning Points Discussed Tax Planning Investment Strategy Real Estate Asset Allocation Other Issues (Emergency Fund, Financial Goals, Estate Planning) Timestamps: 1:00 - Shoutout to the Listener Question 5:00 - When Should I Start Investing After Receiving A Large Sum? 6:20 - When Does A 1031 Exchange Make Most Sense? 7:35 - Where To Start When Making An Investment Plan? 8:18 - Refinancing Your Home & Interest Rates 12:05 - Having An Emergency Plan LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here

In this episode of the podcast, we have a listener question: Just heard your podcast on the target date funds and really appreciate the insight as I'd just rebalanced my 401k and pulled out of them because of the fees and my level of attention to my portfolio. From a financial management perspective, I'm a DIY-er with a blend of Boglehead and FIRE, philosophically. Currently 1/3 of my wealth is concentrated in RSU/stock options from my company as part of my annual compensation package. Is there a tax strategy in regard to timing and/or amount to sell my options to ease the tax burden?What are some options that would make sense to reallocate the funds from the sales? My wife has an annuity in her 403b, which I've heard/read is not a great idea, so can you explain under what circumstances an annuity is or isn't a good option? Planning Points Discussed Tax Planning Stock Options Annuities Restricted Stock Units (RSU) Other issues (IRAs, Vesting Schedules, Financial Goals) Timestamps: 3:45 - Restricted Stock Units  4:19 - Tax Planning of Stock Options 10:00 - Vesting of RSU 16:06 - Deciding When Best To Sell For Your Goals 20:15 - Why Should I Invest In An Annuity?   LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here

In this episode James and Scott discuss their thoughts on how they implement change in both their personal and financial lives. It’s well known that just because something is simple doesn’t mean it will be easy. There are four questions to ask yourself when it comes to achieving your goals, both personally and financially. 1) What can you do? 2) How will you do it?  3) When will you do it? 4) Who can hold you accountable along the way? Planning Points Discussed Accountability Partners Prioritizing Your Goals Purchasing Large Investments Aligning Your Investments with Financial Goals   Timestamps: 2:45 - Simple Doesn’t Equal Easy  6:15 - Avoiding Barriers 7:30 - Examples of Implementing Change 9:30 - Having an Accountability Partner 12:20 - Advisors Have Financial Advisors 12:50 - Aligning Your Money With Your Life   LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here  

In this podcast episode, we have a listener question: Since interest rates are so low and the bond market is so much bigger than the equity market, what are a good mix of bonds for a portfolio with a lot of bonds?  Should it only be high quality corporate or should it be some TIPS, CMO, or anything else?  There are a lot of options for bonds. Planning Points Discussed Interest Rates, Credit Rating & Terms of Bonds Treasury Inflation-Protected Securities  Government Bonds vs. Corporate Bonds vs. Collateralized Mortgage Obligations How to keep your purchasing power Other issues (i.e. risk tolerance, danger of yield chasing, inflation)   Timestamps: 2:05 - What types of bonds should I invest in? 2:30 - What is a bond? 4:30 - Mortgage Terms (30 year, 20 year, 15 year) 8:30 - Qualified Tax Treatment 9:43 - Bond Yields 12:30 - Where do I start when trying to figure out what’s right for me? 15:30 - The Purpose of Holding Bonds in a Portfolio 20:00 - The Danger of Yield Chasing   LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here

In this podcast episode, we have a listener question: I just recently found your podcast when I was looking for some info on mega-backdoor roths. Thanks for all the info, you guys really are a wealth of knowledge. In an older episode, where you guys were talking about asset locations, one of you mentioned that if you have dividend-paying stocks, you should hold them in a retirement account, so you don't get messed up with paying taxes on the dividends. I have been of the understanding that investment dividends are taxed at long-term capital gains rates, so for MFJ, you would need to make over $80,000 in dividend income before you pay any taxes in 2020. If this is the case, and your dividend stock or fund paid 2% per year, you would have to hold $4,000,000 to reach that first 15% threshold. In this case, taxable accounts seem like a great place to hold dividend-paying stocks. Am I misunderstanding something about this? Planning Points Discussed: Taxable Investments Taxation of Qualified Dividends and Ordinary Income Asset Location v. Asset Allocation Long-Term Capital Gains v. Short-Term Capital Gains  Hierarchy of Assets Key Points: How Various Taxes Impact Your Income Tax Implications Example: Example: You make $100,000 a year and you contribute $10,000 to your 401(k) and take a standard deduction of $12,000. Your taxable income would be $90,000 and if $12,000 is the standard deduction, $78,000 would be taxable income.  There are two separate tax brackets for Ordinary Income & Long-Term Capital Gains(includes Qualified Dividends). If your ordinary income is under $80,000, any capital gains are taxed at 0%. Between $80,000 and $496,000,  you are taxed at a rate of 15%, and above $496,000 you are taxed at 20% (assuming MFJ).  The listener is correct- if you have a $4,000,000 portfolio, received $0 in ordinary income, and dividends were below $80,000, you would be taxed at 0%.  If you make over $250,000 as a family, there is an additional 3.8% tax(Net Investment Income Tax). Salary, Social Security, etc. are all taxed at Ordinary Income rates. Long-Term Capital Gains & Qualified vs. Ordinary Dividends  Qualified vs. Ordinary Dividends When you receive a dividend, a company is making money and deciding to return some of that money back to the stockholders. If you hold a dividend for 60 days, it would be a qualified dividend. If not, it would be an ordinary dividend taxed at ordinary income tax rate

In this week’s episode of Real Personal Finance, James and Scott discuss end of year tax planning. As the year comes to an end, we want to make sure your income and investments are in order. Whether you had a year of financial gain or financial loss we help you use that to your advantage, no matter your tax bracket.   Time Stamps: 00:28 - Year-end tax planning 01:00 - Core concepts to focus on for EOY planning 01:44 - Harvesting gains or losses in your portfolio 04:30 - Tax gain harvesting 06:55 - Planning for future higher income and how it impacts your tax bracket 08:13 – Planning for future lower income 10:00 - Charitable donation changes with the passage of the CARES Act 13:45 - Tax planning with stock compensation 15:14 - Cash flow 18:34 - 529 plans 19:41 - HSA vs. FSA 22:17 - Estate planning 23:13 - Roth conversions 25:04 - Conclusion   LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here

In this podcast episode, we have a listener question: Husband/wife (70/69) both retired intending to down size.  Debt free.  Retirement assets are 1.7 mil (1.3 mil traditional ira/400 k Roth IRA).  Monthly income before taxes (social security and pensions) is $7500.  New home cost estimated at $400 k.  Existing home to be sold after building new home expected to sell for $150 k.  So, how do we pay for new home: cash or finance?  If cash: use traditional ira or Roth?  If finance: how much?  Thanks.  Look forward to your reply. Planning Points Discussed Analysis of purchasing new home Analysis of selling old home Tax analysis Explore multiple options Other issues (i.e. risk tolerance, RMD, IRMAA, other goals) LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here

In this episode James and Scott discuss their thoughts on Bitcoin and whether or not it belongs in your investment portfolio. They discuss: Traditional asset classes Alternative asset classes Risk vs growth potential Potential inflation hedges  Considerations when adding new assets to your portfolio. LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here

In the third episode of the Better Investor Series James and Scott discuss ways you invest your portfolio for better potential long-term growth. Listen in as they discuss what parts of the stock market have historically demonstrated higher returns than others.  Timestamps [2:35] Different types of stocks and bonds - which do you tilt toward? [3:12] Market overview the end of 2019 - the United States stock market represented 54% of the global stock market. [5:40] Pros and cons of diversification. [9:40] The uncommon average in investing. How do "average" returns compare to what you can actually expect? [17:01] How to use time to increase your odds of success. [19:50] There is no silver bullet solution - focus on what you can control. LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here

In this episode, we dive deeper into three ways on how you should think about framing asset allocation; your ability to take risks, your willingness to take risks, and your need to take risks. Listen in to learn the fundamentals that should drive your investment decisions.  Timestamps: What is asset allocation [0:30] The four factors in your ability to take risk explained [2:18] How to work out investing horizons framework [3:14] Think of your income stability outside of investments you plan on making [7:03] How your need for liquidity tie into your investments’ options [8:48] How to prepare your portfolio to handle your plan B [9:25] Measuring your risk tolerance framework [11:02] Knowing what’s essential to you so you can figure out what you need to invest [14:39] Tradeoffs when your needs for your portfolio don’t align with your risk tolerance [17:37] Invest in both the US and international market [20:06] Big companies versus small companies investing [21:07] How to invest in bonds and not chase yield [24:21] LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here

In this episode, we explain the principles you need to understand and apply for your investment success. They are simple principles but not always obvious. It is important to understand these frameworks based on economic research to improve your chances of investment success.  Timestamps: How to understand economic frameworks that help you build financial investing [1:01] Embrace market pricing- the equilibrium price [1:47] The risk of trying to outcast the market according to statistics [3:40] Resist chasing past performance- luck versus skill [7:07] How to let the market work for you not you against it [8:29] Consider the different aspects of the market with different drivers of return [10:46] Practice smart diversification- investing in different countries, not the US alone [14:15] Learn to avoid market timing [16:01] Manage your emotions so as not to dictate your investments decisions [19:04] Look beyond the headlines because the media is designed to put fear in you [20:40] Focus on what you can control [22:34] LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here

We are in the election year and you’re probably wondering whether you should make changes to your portfolio, right? In this episode, we talk about election years and how they affect the market and your investment choices. Timestamps: The difference between market statistics history during the election and non-election years [1:31] Reasons why capitalism is probably going to work [2:32] Why returns in election years are the same as non-election years [4:15] Why chances of market volatility have always been part of our history [5:00] How people use their political preferences to monitor their investment decisions [8:00] Get used to market volatility every year not, just an election year [11:51 LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here

Is a Target Date Fund right for you? To put it in simple terms, it depends. Today we explain what the appropriate course of action is when approaching a Target Date Fund. From new investors to those more well-seasoned, we discuss what factors you should consider when deciding if you should use a Target Date Fund or select your own investment mix. Time Stamps: Introduction – 00:02 Listener question – 00:25 What is a Target Date Fund – 2:00 Salsa analogy – 2:52 How do the fees work – 4:05 Is it cheaper to replicate the blends vs. Target Date Funds – 7:30 Diversified Target Date Funds – 8:31 What is the right fit for you – 10:38 Conclusion – 13:18 LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here

What do you do when you have fully maxed out your 401k contributions? This is where the Mega Backdoor Roth contributions may come into play. In this episode, we explain the mechanics behind a Mega Backdoor Roth contribution and how to approach this move strategically so you never have to pay taxes on that contribution again. Time Stamps: Introduction - 00:05 Listener question – 00:55 What is a Mega Backdoor Roth – 01:18 Does this make sense for you – 3:00 How do you drive down taxable income – 4:02 What is the quality of your 401k plan – 5:50 The mechanics of a Mega Backdoor Roth – 8:02 How much can you contribute to after-tax contributions – 10:13 The two components of after-tax buckets – 11:33 Where the Mega Backdoor Roth comes in – 12:43 In service Roth conversion – 13:03 Plans that allow in-service distributions – 14:18 Plans that do in-service conversions – 14:43 Conclusion – 17:23   LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here

Today we answer questions from a listener on where to save your money in a 5-year span. From the stock market to the bond market we lay out what the probability of return is from daily to yearly and define what it means to be resilient when it comes to financial planning. Introduction - 00:10 Listener question - 00:25 How much of a gamble are you willing to take - 1:39 Probability vs. Certainty - 3:20 Putting probabilities in your favor - 4:35 Make room for error - 7:08 What is the minimum for saving for a home - 8:33 Alternatives to investing in the stock market - 9:47 Bond market - 12:05 How flexible are you with investing - 13:43 Caveat to buying a home - 14:45 LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here

Property Taxes Closing Costs Earnest Money Paying for the Escrow Homeowner's Insurance Other Taxes Interest Rates Moving Costs Utilities Home Maintenance & Repairs   LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here

High Yield Savings Account Certificate of Deposit (CD) Checking or Savings Account Taxable Investment Account Roth IRA LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here

What % of income are you saving to your retirement accounts? Where to put extra $ If not fully funding retirement .... After tax contributions to 401ks Mega-backdoor Roths Backdoor Roths HSA accounts Side Income Solo 401k Taxable account If fully funding retirement Other Goals Home Purchase - Savings Account College Savings - 529  Taxable Investments Balance the present vs future LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here

Cash Flow Estate Settlement Insurance Taxes Investments & Assets Other Issues   LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here

Who's who on a 529? Who is the best grantor? Which 529 should I choose? Incentive to invest in the in-state plan? Incentive to invest anywhere? No Incentive See what your state offers here How do you invest? Age-based Static risk-based Gifting to the account   LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here

What kind of advisor do you want? How are they compensated? What services to they provide? What types of clients to they work with? Are they a fiduciary .... ALL THE TIME? Disciplinary record with the SEC or FINRA? How will they help you reach your financial goals? What happens to your relationship with the firm is something happens to your advisor? Where can you find an advisor? NAPFA XYPN Garrett LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Sticher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here

Professional Expertise Convenience Coaching Values Alignment LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Sticher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here

Health Insurance Life Insurance Disability Insurance Long-Term Care LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Sticher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here

Forming your company Capital Funding Tax Issues Personal Liability LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Sticher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here

Not all bonds are created equal Bond act as a ballast in your portfolio They provide fund to rebalance when the stock market is on sale LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Sticher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here

Foundational Savings Healthcare Savings Retirement Savings Employer Benefits & Business Owner Savings College Savings and other accounts for kids Insurance? Other accounts LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Sticher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here

Cashflow Mortgage Downpayment & Closing  Tax Planning Estate Planning Other LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here

Impact of Covid on Social Security - Wharton Article How will you fix Social Security? Social Security Reformer LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Sticher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here

Balance Sheet Spreadsheet LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Sticher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here 

What should I think about if I lose my job? Cash flow Health Insurance Assets & Debts Tax Planning Career Planning LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Sticher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here 

What is a Roth IRA? How can I contribute? Contributions available for withdrawal at any time 5 Year Rule  From account opening Roth Conversions Beneficiaries Backdoor Roth Conversions No Required Minimum Distributions Spousal Roth IRAs Kid Roth IRAs   LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Sticher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here 

Rebalance your portfolio Resist the urge to panic sell Use tax laws in your favor Protect your cash flow and balance sheet Focus on the long term   LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Sticher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here 

Should I rebalance my portfolio? Why rebalance? When should I rebalance?   LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Sticher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here 

Do you have cash on hand to weather the storm? What is the money for? Where should I put it? How quickly should you enter? LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Sticher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here 

Description Scott and James discuss how to align your money with life: Focus First on What is Most Essential to You Kinder's Three Questions LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Sticher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here 

New York Time Article - A Hub for Help During the Coronavirus Crisis US Chamber of Commerce Guide & Checklist LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here 

New York Time Article - A Hub for Help During the Coronavirus Crisis Mint Article - COVID Resources LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here 

On this week's episode: What are the best retirement options for small businesses? 401k Simple IRA SEP IRA Defined Benefit Plan Profit Sharing Traditional IRA LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here 

On this week's episode: Scary Markets - What should I do? Feel the feelings Let's look at what is normal Review your plan LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here 

On this week's episode: Should I Just Own the S&P 500 Index? What is the S&P 500? What is an index? What is the Russell 3000? What about International? What about Emerging Markets? Invest in S&P 500 only or Globally, who wins by decade? LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here 

On this week's episode:  A deeper dive on refinancing Where should you look to refinance? How can you go about it? What to look for: rate, points, and closing costs Know your breakeven for the refinance What type of loan is best for you? LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here 

On this week's episode:  Should I Invest in Gold? A brief history of gold Commodity vs. Investment Inflation hedge? Portfolio Diversification LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here 

On this week's episode: Do I Need Disability Insurance? Which is more likely death or disability? What are the most common types? What is disability insurance? Am I covered with Social Security Disability Insurance? Types of Disability Insurance (DI) Where can you get DI? Terms to know Benefit Period Elimination Period Coverage Amount Cost of insurance Taxation LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here 

On this week's episode: What can I really control in my financial life? What can't I control? What can I control? Savings Rate Mindful spending Asset Allocation Asset Location Investing in my career Creating a financial plan Having the proper insurance Optimizing cash flow and taxes Having an estate plan in place Treating planning as a process, not a thing LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here 

On this week's episode:  What changed with SECURE Act? Required Minimum Distributions (RMD)  Pushed to age 72 IRA Contributions No longer an age limit Non-spouse Inherited IRAs Small Business Retirement Plans Other provisions Beware of annuities in 401(k)s! College Changes Super Geeky Detail if you want more! Thank you Jeff Levine LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here 

On this week's episode:  Should I leave my financial advisor? What are your options? Balanced Mutual Fund Ex: Vanguard Welling Fund Admiral Shares Robo Advisors Vanguard Personal Advisor Services Betterment Traditional Financial Advisor Find an Advisor Vanguard's Advisor Alpha  What we believe a great financial should do: The 4 C's Competence Coaching Continuity Convenience There is a spectrum of advice .... what is right for you? Don't overpay for the level of advice you want Ex: Pay 1% of investment management when you can get investment management for .25%  LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here 

On this week's episode: How Social Security works Keys to maximizing Social Security What is the payback on Social Security? Should I delay Social Security or start as soon as possible? Other odds and ends LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Sticher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here 

On this week's episode: What is a credit score? Where does it come from? What factors count toward my score? Where can I find my credit history? Annual Credit Report Where can I find my credit score? Credit Karma LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Sticher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here 

On this week's episode: Pay Yourself First Have Sufficient Liquidity Pay Off Bad Debts Own the right-sized home Invest in your Career Five Fundamentals Of Fiscal Fitness LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Sticher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here 

On this week's episode: What is long-term care? How much does long term care cost? How do I pay for it? When should I consider Long-Term Care Insurance? Other considerations LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Sticher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here 

Pay Off Debt Save For Retirement  Save For a Large Purchase Spend It! Have a plan ahead of time LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Sticher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here 

What is ESPP? The price discount is generally 15%. Enrollment period - decide how much of your paycheck you will contribute. Can’t contribute more than $25k/year, although companies can limit the amount to a % of salary. Purchase period - usually 6 months. The period during which Look back provision - not required for all ESPPs, but allows the discount on the lower of the stock price on the first or last day of the purcase period. Is it smart to tie up with a single employer? If you sell your shares immediately, then there’s no risk of doing this. If you hold the shares, then you could lower taxes and have greater growth potential, but there’s the risk of being too concentrated in one company LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Sticher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here 

What are Restricted Stock Units (RSUs)? Stock Options vs. Restricted Stock Units (RSUs) Vesting Taxes Create a plan for your RSUs LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Sticher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here 

Understand the purpose of what you’re saving for Know your short to medium term goals  Emergency Fund Home purchase fund Other goals? Travel, new car, etc... Start with the short-term goals. Can you save enough to these goals and still save enough for your retirement needs? If so great. If not then something needs to give.   General guidelines: If you have a 401k match, take it. Make sure you have an emergency fund LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Sticher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here 

Progressive tax bracket Everyone pays $1,905 on first $19,050 of taxable $140k taxes at $400k? 35% tax bracket Actual taxes = $91,379 (22.8% taxes) Tax Rate Taxable Income Bracket   10% $0 to $19,050   12% $19,051 to $77,400   22% $77,401 to $165,000   24% $165,001 to $315,000   32% $315,001 to $400,000   35% $400,001 to $600,000   37% $600,001 or more   Deductions  Standard deduction - $24,400 Itemized - mortgage interest, state/local taxes, charitable giving, medical expenses over 7.5% of AGI Other considerations States have separate tax brackets too Social Security @ 6.2% up to $132,900; Medicare @ 1.45% not capped  Different types of taxes for earned income, capital gains, dividends LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Sticher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here 

“My parents bought a home for $300k 30 years ago now it’s worth $1mm” About 4% rate of return in this example Lots many variables:  Cost of renting Interest rates Property taxes & maintenance costs Cash for down payment Is it a good investment compared to what? S&P 500 long-term return is 10%  Historically, housing prices have averaged around 4% per year Huge differences in different parts of the country, but this is national average  Shouldn’t be viewed as a purely financial decision  What about owning a home as a rental property Appreciation Rental Income - cash on cash return  LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Sticher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here 

Know your retirement funding deadlines: 12/31 - Last day to pay itemized deductions, establish a solo 401k, complete contributions to employer 401k IRAs, Roth IRAs - 4/15/20 SEPs tax filing deadline   Maximize 401k and HSA Evaluate capital gains / losses in taxable accounts Loss carry forward? Tax loss or tax gain harvesting Will you itemize your deductions? Standard vs itemize What can you deduct? Lump deductions Check your withholding Make estimated payments Review eligibility of 199A pass through - Qualified Business Income Take your RMD If you don’t need your RMDs, consider a Qualified Charitable Gift from your IRA. Contribute to 529s LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Sticher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here 

Do I Need an Emergency Fund? Rule of thumb 3 to six months of income Is there a better way? Know your expenses What would you spend if you could only use money for essential living? How many months would you want to feel safe? Another way:10% of income if salaried or 20% if self-employed - Keep another 20% or 40% in retirement funds as a back up to the back up.  Example $100k per year salared $10k in online savings account, $20k in bond funds in retirement accounts. If self-employed double. Where should you keep the funds? Online savings Savings account In a drawer What is the back up to the back up? HELOC Bond funds in retirement accounts LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Sticher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here 

Is now a good time to refinance my mortgage? Where do you stand today? Current rate Credit Score Income How seasoned is your loan? Amort example $500k loan year 3 vs year 15 Year 3 P&I 5% $2,684.00 P=698 I=1986 Year 15  P=1270 I=1414 What are new rates? 3.625%  Typically .5% reduction or more is worth a look What will the new rate do for cashflow? $485k 3.625 $2,212 Saves 472 per month or $5,600 per year How much are closing costs? Expect $3 - 4k in SoCal  How long to payback? What will you do with the cash? Get the best rate you can Play lenders off one another Don’t accept the first rate - Go back and forth to get the best rates you can LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Sticher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here 

In this episode:  Are they a fiduciary Are they a CFP® Pro What types of clients do they work with?  Do they understand your problems? Are they really listening? How do I pay you?  How else are you paid?  Should you go with big firm or an individual financial planner   LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Sticher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here 

In this episode: Budgeting sucks …. Do this instead Budgeting …  It’s feels so negative Instead think of align your cashflow with your life Shout out to First Steps Cash Management - You can easily do this at home. Instead of thinking about cash in one bucket, break it into three buckets. Static  - Past - Fixed expenses that don’t change Control - Weekly expenses that vary  Dynamic - Planning for the expected and unexpected For salaried people, use the net pay from your paycheck For 1099 - Small business owners (lump in all costs of business and add a tax estimate for fed and state)   Once you make your first iteration, ask yourself … is this ideal?  Is there anything I can change.   If you have bucket totals side by side … are you paying so much to past commitments that you cannot enjoy life while planning your future?  How you can you change this? Can you reduce your static expenses?   Can you increase your income?   Once you know what you want, automate as much of it as you can.  LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Sticher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here 

In this episode: How to Get the Most of Your Employee Beneftis Medical Insurance HSA vs. No HSA Disability Insurance Life Insurance Dependent Care FSA Medical FSA - If no HSA Stock Compensation - ESPP Review your retirement plan Legal Benefits Tuition reimbursement LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Sticher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here 

In this episode: Do I need life insurance? Reasons you may want life insurance What kind of life insurance should I get? Read Blair's Article Here! Whole vs. Term  How much insurance do I need? Rule of Thumb Need analysis Human Life Value Don't over insure yourself Don't under insure yourself Term Layering Don't I already have life insurance through work? Where can I get a policy? Policy Genius LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Sticher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here 

Description:  How many mutual funds should I own? What is a mutual fund vs ETF? Index or Active Examples Instead of # of funds, focus on: Asset Allocation Globally Diversified Keeping costs down Vanguard Build a Portfolio DFA Global Stock Market LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Sticher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here 

Description:  Should James get a 15 year or 30 year mortgage? Let's look at the numbers What is amortization?  A great hack for a 30 year mortgage What else could you do with the funds instead of paying down the mortgage? Other considerations How to shop for a mortgage LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Sticher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here 

Description:  Where should you invest after maxing out your retirement plan? Make sure you actually maxed out your retirement benefits Roth IRA  Health Savings Accounts - HSA Employee Stock Purchase Plans - ESPP Invest in non-retirement accounts Pay off debt / mortgage   LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Sticher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here 

Description A fun math problem that explains compounding Time = Magic - It's a long term game Do retirees need compounding? It is magic, but it takes patience and a plan Markets will go down along the way - Stick with it LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Sticher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here 

Description Scott and James discuss how to align your money with life: Focus First on What is Most Essential to You Kinder's Three Questions LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Sticher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here 

Description Scott and James discuss the types of accounts you can use to save for college as well as the pros and cons of each: 529s - See if your state offers tax incentives here Education Savings Accounts Taxable accounts UGMA / UTMAs Roth IRAs LETS’ CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Sticher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here 

Description What is estate planning and why should you care?  When do you want to get estate planning documents? What documents should you think about getting? Where can you get estate planning documents?   LETS’ CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website   ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Sticher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here 

Description Invest in a Roth or traditional IRA What if your tax rates are the same, now and in the future What are Required Minimum Distributions and who needs to take them When would a traditional IRA be favored to a Roth When is a Roth IRA favored Do your homework before you make your contributions  Think about Roth conversions in gap years / low income years LETS’ CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website   ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Sticher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here 

Description HERE’S WHAT YOU’LL LEARN FROM THIS EPISODE: Start with the end in mind Know your income sources in retirement Calculate how much you need to have in your investment accounts Other factors to keep in mind LINKS WE MENTIONED ON THE SHOW:  JP Morgan's Guide to Retirement   LETS’ CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website   ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Sticher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here   

What is an HSA   HERE’S WHAT YOU’LL LEARN FROM THIS EPISODE:   What is a Health Savings Account (HSA) Who qualifies to use an HSA   What can you use your HSA for How does it save you on taxes   How can you use an HSA to save and invest for the future How to prioritize IRA savings versus HSA savings   Linked Resources:   HSA Report Card - What States Allow for Tax Deductions   LETS’ CONNECT!  James Facebook LinkedIn Website   Scott Facebook Twitter Website   ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play Leave us a review in iTunes  Have a money question you want us to answer? Submit one here  (We can use my contact box on SSF site, no one else ever submits things here.)

  SEP IRA vs. Solo 401k   HERE’S WHAT YOU’LL LEARN FROM THIS EPISODE:   What is a SEP IRA  How much can you contribute Account opening deadline   What is a solo 401k How much can you contribute S-Corporation vs. Sole Proprietor Over 50 years old Account opening deadlines Where can you set up a solo 401k? Solo 401ks additional benefits Our favorite   LETS’ CONNECT! James Facebook LinkedIn Website   Scott Facebook Twitter Website   ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Spotify, or Google Play. Leave us a review in iTunes. Have a money question you want us to answer? Submit one here

HERE’S WHAT YOU’LL LEARN FROM THIS EPISODE: How to prioritize your debts Understanding the power of time value of money Where can you look to start saving Is the textbook answer the right answer?   LINKS WE MENTIONED ON THE SHOW: Prioritize your debts A Tale of Two Marines   LETS’ CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website   ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Sticher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here