Financial Advisors Say The Darndest Things

In this episode of Financial Advisors Say the Darndest Things, A.B. Ridgeway explores the trend of billionaires and millionaires giving away significant portions of their wealth. Drawing on data, Biblical principles, and practical financial advice, he helps listeners understand the deeper implications of giving, the pitfalls of financial vanity, and the true blessings that come from generosity.3 Key TakeawaysWealth Isn't SatiatingAccumulating wealth often leads to a cycle of dissatisfaction. As Ecclesiastes 5:10 states, "He who loves money will not be satisfied with money." True fulfillment comes from purposeful giving, not endless earning.Giving Reflects Security, Not ScarcityWhen we give, it signals to ourselves that we have enough and will be okay. Charitable giving not only benefits the receiver but also reinforces the giver's financial confidence.Balance Your GivingGenerosity is vital but should never come at the expense of your own stability. Be mindful to give within your means, ensuring your family's essential needs are met before extending help to others.3 Memorable Quotes"The act of giving is a signal to yourself psychologically that you will be okay.""We work 20, 30 years to accumulate wealth, but it's not about how much you have—it's about what you do with it.""He who loves wealth with his income will not be satisfied; this is also vanity." - Ecclesiastes 5:10

In this episode of Financial Advisors Say the Darndest Things, A.B. Ridgeway dives into the Rule of 72, a simple formula that helps you estimate how long it will take to double your money based on the rate of return on your investments. Whether you're investing in CDs, annuities, or the stock market, understanding this concept can help you set realistic expectations, manage risk, and plan for retirement more effectively. Ridgeway also explains why starting early is key to reducing risk and achieving financial goals.Key Takeaways:The Rule of 72 Demystified: The Rule of 72 helps you calculate the time required to double your money. Simply divide 72 by the annual return rate. For example, at 6% interest, it will take 12 years to double your money.Setting Realistic Expectations: Financial advisors aren't magicians who can double or triple your money overnight. The Rule of 72 provides a more realistic view of growth, helping you avoid unnecessary risk.Start Early to Minimize Risk: Beginning your investment journey sooner allows you to take on less risk while still achieving your goals. Investing later often requires higher returns, which can increase your risk exposure.Memorable Quotes:"The Rule of 72 is a tool that simplifies complex financial projections, helping you make better decisions about where to put your money.""The market rarely gives you a consistent 10% return year after year; it's about staying the course through the highs and lows.""Starting early allows you to take on less risk and still meet your financial goals—time is your greatest ally in investing."

In this episode of Financial Advisors Say the Darnedest Things, A.B. Ridgeway provides practical and actionable tips for anyone struggling to save money, regardless of their income level. He tackles two key problems: the misconception that saving a set dollar amount is the key to success and the lack of clarity about what you're saving for. A.B. introduces the concept of saving by percentages rather than fixed amounts, offering a simple yet effective strategy to build the habit of saving. He explains how saving even a small percentage of your leftover income, such as 10%, can lead to gradual growth in savings over time. Whether you're saving for an emergency fund or retirement, A.B. emphasizes the importance of creating sustainable habits and understanding the purpose behind your savings goals. This episode will help you shift your mindset and develop a more effective approach to personal finance.Key Takeaways:Save by Percentages, Not Fixed Amounts – A.B. emphasizes that saving a percentage of what's left over after bills, even if it's just a small amount, is more sustainable than setting a fixed dollar target. This method encourages building a habit of saving consistently.Know What You're Saving For – Before you start saving, it's crucial to define your goals. Whether it's for an emergency fund, retirement, or something else, having clear intentions makes your saving efforts more focused and effective.Gradual Growth Leads to Financial Security – By saving small amounts consistently, you'll develop the habit of saving, which can eventually lead to larger savings as your income increases or expenses decrease.Quotes:“You are going to invest or save by percentages. Everyone can save by a percentage. It doesn't matter how small. The important part is getting into the habit.”“If you don't know what number is going to give you financial security, you're always going to be wanting more, because there's always one more dollar to make.”“The key to saving for your future isn't how much you save, but the habit of saving. Even a small percentage over time makes a big difference.”

3 Key Takeaways:The Power of Delayed Gratification: A key insight from a listener highlights the importance of delayed gratification, particularly in the context of building wealth. By sacrificing immediate luxuries (like a fancy car or luxury condo) in your younger years, you can set yourself up for financial freedom and stability in the future. This concept extends beyond money, offering a powerful way to achieve long-term goals.The Role of Emergency Funds and Credit Cards: Another listener shared an insightful approach to balancing emergency funds and credit card use. The advice: build a solid emergency fund of 6-12 months before using credit cards. Once that safety net is in place, credit cards can be used wisely to build credit, but always paid off to avoid debt.Sacrifices and Trade-Offs in Life: A thought-provoking comment discusses the inherent sacrifices in life. Each choice comes with trade-offs—choosing one thing means letting go of another. This concept of "opportunity cost" is central to personal financial planning and lifestyle choices. Understanding this helps you make intentional decisions, rather than being driven by external pressures or impulses.3 Quotes:"Better financial health leads to better mental health, too." – This comment encapsulates the holistic benefits of financial discipline, emphasizing that financial stability not only brings peace of mind but improves overall well-being."Life is a series of sacrifices. To choose one thing is to give up another because for us, time and energy is finite." – A comment that beautifully sums up the reality of making decisions, whether in financial matters or personal life."It's better to have money and not need it than to need money and not have it." – A powerful reminder of why financial planning and delayed gratification matter—having financial security allows you to live life without constant stress about money.These podcast notes reflect on the insightful feedback from listeners, focusing on themes of personal finance, delayed gratification, and the sacrifices we make for a better future.

3 Key Takeaways:Luxury Travel Gone Wrong: The episode delves into the sudden shutdown of "Ladies in Luggage," a Georgia-based travel agency that specialized in luxury group vacations for African American women. Despite advertising high-end trips, the agency abruptly closed, leaving customers without refunds or alternatives.The Importance of Vetting Travel Providers: A key lesson from the episode is the importance of thoroughly vetting any travel service, especially when the price tag is high. The host, A.B. Ridgeway, takes a practical approach by comparing a similar trip to Dubai using reputable platforms like Expedia to demonstrate potential savings and ensure that travelers aren't overpaying.Travel Insurance & Protections: The conversation emphasizes the importance of travel insurance in protecting your investment, particularly for luxury vacations. The host explains how certain travel packages offer guarantees for refunds on unused hotel days and lost luggage, but also stresses that consumers need to read the fine print and understand the protections available before booking.3 Memorable Quotes:“Ladies in Luggage sold luxury group vacations organized specifically for African-American women. She had something for us older ladies, she called us the aunties.” – This quote introduces the concept of the travel service, focusing on how it was tailored to a specific community of women and helped foster a sense of belonging among its clients.“Before we go any further, I actually want to see exactly what she paid for.” – A.B. Ridgeway transitions into his practical analysis, highlighting his financial advisor mindset by comparing the trip's cost with similar offerings from reputable travel platforms.“Let's protect our trip. So this is 100% refund on unused hotel days, 100% refund on your flight... It's essential to cover those bases.” – This quote underscores the importance of purchasing travel insurance and understanding the protections available when investing in high-cost travel experiences.Episode Highlights:Ladies in Luggage Closure: A closer look at how a travel agency specializing in luxury group trips for Black women suddenly shut down, leaving clients in financial distress.Financial Advice: A breakdown of how to plan and protect against similar issues when booking expensive vacations.Travel Insurance: Why securing comprehensive coverage is crucial for luxury travelers.

In this episode, the host delves into the challenges facing Millennials who earn six-figure salaries, yet still feel financially stretched. These high earners, sometimes referred to as "Henrys" (High Earners, Not Rich Yet), face a unique set of financial pressures that may surprise many listeners. The discussion covers the impact of student debt, living expenses, lifestyle inflation, and the influence of social media on financial expectations.3 Key Takeaways:The Gap Between Income and Expectations: Many Millennials who earn six figures still live paycheck to paycheck, largely due to the high cost of living, student debt, and the expenses tied to maintaining a lifestyle that exceeds their salary's purchasing power. A six-figure salary no longer stretches as far as it once did.Lifestyle Inflation Can Overwhelm Income: It's not just about how much you earn, but how much you spend. The difference between basic living expenses and lifestyle choices (housing, cars, vacations) can add up quickly. The more expensive your lifestyle, the harder it is to live within your means—even with a high salary.The Hidden Costs of Student Debt: Many Millennials, even those with impressive salaries, are burdened with student loan debt that can feel like a second rent payment. With an average student loan debt around $40,000, this financial weight affects their ability to build wealth, save, or enjoy the full benefits of a six-figure salary.3 Memorable Quotes:“Six figures is not what six figures used to be... because people are living a lifestyle beyond what six figures can actually buy them.” — AB Ridgeway“It costs that much for you to live the way you want to. The life that we think we should be living with our income is just not true.” — AB Ridgeway“If this is how I'm feeling, oh my God, what is somebody who makes the poverty line feeling?” — Turner Coles (on the strain of student loan debt despite earning a six-figure salary)This episode sheds light on the financial struggles of high earners and the common misconception that a six-figure income guarantees financial freedom. The host emphasizes the importance of understanding the true costs of maintaining a certain lifestyle and managing debt effectively to avoid falling into the paycheck-to-paycheck cycle.

In this episode, we delve into an unusual story involving Peanut the Squirrel's sanctuary owner and their controversial fundraising methods. A.B. Ridgeway offers insights into the implications of supporting causes and managing donations, examining how transparency, ethics, and personal convictions play into financial stewardship.Key TakeawaysFinancial Transparency in Donations: It's crucial to verify where donations go, especially for tax purposes. Charitable contributions should ideally go directly to the organization to ensure proper use and potential tax deductions.Ethics in Fundraising: The episode raises a thought-provoking question about supporting causes when the methods of raising funds may conflict with personal values, such as using an OnlyFans account to support an animal sanctuary.Judgment and Self-Reflection: Referencing Matthew 7:1-3, A.B. Ridgeway emphasizes the importance of self-reflection and applying consistent standards to our actions and those of others.Memorable Quotes"Do you support someone who does something 'bad' to do something 'good'? This is a question many investors need to ask themselves.""We must judge ourselves by the same measure we judge others. If we're going to hold people accountable, we should ensure we're holding ourselves to those same standards.""As a Christian financial advisor, I steward God's wealth and hope you do the same—making sure your investments align with your values."This episode offers valuable insights into the nuances of charity, ethical giving, and staying true to personal beliefs while navigating financial decisions.

3 Key Takeaways:Personal GoFundMe vs. Direct Charity Donations Donating through GoFundMe for Peanut the Squirrel may not benefit the actual sanctuary. Instead, funds are linked to an individual, not the nonprofit organization, which raises concerns about where the money is truly going.Tax Deductibility Concerns Contributions made through GoFundMe may not qualify as tax-deductible donations, even if Peanut's sanctuary has legitimate charity status. This oversight could mean donors miss out on potential tax benefits.Avoid Unnecessary Fees Using platforms like GoFundMe can incur a 2.9% processing fee, reducing the amount that goes directly to the cause. Direct donations to the charity are more efficient and ensure more funds support the animals.3 Memorable Quotes:"If this isn't tax deductible, the money doesn't have to go to the nonprofit, and it doesn't have to be reported on their 990.""2.9% of your donation is going to a third-party processing fee, which means less support for the animals you care about.""There are ways to give appreciated stock directly, saving up to 22.9% in fees and taxes—money that could go straight to the cause."

Call For Justice for Peanut the Squirrel and NYSDEC ReformP'Nut (Peanut) GoFundMe Page: https://www.gofundme.com/f/support-peanuts-return-to-pnuts-freedom-farmThis is not an endorsement or encouragement to donate to this cause. This is purely for reference. This is NOT a paid promotion or advice to donate to this cause. We are simply bringing awareness. A.B. Ridgeway Wealth Management is not responsible for any decisions made that may result in a loss of money based on the material presented. Please use your own discretion when making financial decisions. Episode Overview:In this engaging episode, A.B. Ridgeway dives into a gripping story about Peanut the squirrel, a beloved internet sensation whose life took a tragic turn following government intervention. A.B. offers a unique perspective by shedding light on the financial implications behind such emotionally charged events and provides a guide on protecting your generosity from scams.3 Key Takeaways:Verify Charitable Organizations Before Donating: A.B. emphasizes the importance of checking the legitimacy of nonprofits, especially those that spring up following viral events. He walks listeners through tools like the IRS website to ensure contributions go to real, certified causes.Understand Emotional Appeals: The internet often capitalizes on emotional stories to fundraise. A.B. advises staying vigilant and making informed decisions rather than acting purely out of sympathy.Impact of Public Outcry on Government Actions: This case illustrates how social media can amplify controversies, making it crucial to discern facts from opinions in the court of public opinion.3 Memorable Quotes:“I don't want you to be ripped off because your heartstrings are pulled.” — A.B. Ridgeway emphasizes the need for financial discernment when supporting viral causes.“Brothers and sisters, this is not my specialty. The court of public opinion is not where I shine.” — A humorous reminder that A.B. focuses on facts and financials, not gossip or speculation.“Let's make sure we are looking at the right things before we put our money out there, right or wrong.” — A call to action for listeners to do their homework and safeguard their charitable intentions.This episode not only highlights the emotional power of social media stories but also arms listeners with practical steps to navigate the financial side of viral narratives responsibly.

In this episode, A.B. Ridgeway delves into the controversy surrounding Gateway Church, where members allege that millions of dollars in tithes were misused. This lawsuit against the Texas megachurch raises questions about financial transparency, biblical stewardship, and the responsibility of church leaders. Ridgeway breaks down the court proceedings, examines the promises made to the congregation, and discusses the importance of financial accountability within faith-based organizations.3 Key Takeaways:Transparency in Tithes Is Essential for Trust Members expect their tithes to be used in alignment with biblical principles. When leaders fail to meet these expectations, it can lead to legal action and erosion of trust within the congregation.Biblical Stewardship and Personal Accountability Giving back to the community or church should be done with discernment. It's a believer's responsibility to ensure their contributions align with their values and that funds are managed appropriately.The Distinction Between Individuals and the Church Itself Ridgeway emphasizes that while church leaders may falter, they do not define the church. Congregants should hold leaders accountable without feeling they're questioning their faith or the church's integrity.3 Notable Quotes:"People in the church are not the church. It is the accumulation of all the people together that makes up the church.""We can't be lazy, brothers and sisters, and just move the decimal point over...It is our responsibility to make sure the money we're giving is going to make an impact.""As a Christian financial advisor, I run into this all the time. People think that they can just put Jesus in front of everything and then act like everything's okay."

In this episode of Financial Advisors Say The Darndest Things, host A.B. Ridgeway dives into the pros and cons of using credit cards for everyday purchases. With credit card interest rates in the double digits and Americans collectively owing over a trillion dollars in debt, this discussion raises important questions about the financial wisdom of credit card dependency.Key TakeawaysKnow Thyself: Credit cards can offer great rewards, but only if you have the money management skills to handle them. Without the ability to pay off balances in full, these cards can quickly turn beneficial rewards into financial pitfalls.Compound Debt Warning: Just like compound growth works in your favor, compound interest on debt can work against you. Paying only the minimum means interest accumulates on interest, creating a “snowball effect” that can lead to overwhelming debt.Credit as a Trust System: Your credit score is essentially a trust score. Building good credit through responsible usage (and timely payments) is essential not only for lower interest rates on loans but also for building trustworthiness with lenders, employers, and landlords.Memorable Quotes"If you don't have the funds to make the rewards worthwhile, credit cards can be very dangerous.""Using credit cards and not paying them off is like taking a micro-loan for every small purchase.""Your credit score is like walking around with a number on your head that tells people how good you are at paying back money."This episode encourages listeners to reflect on their financial habits, understand the risks of credit card debt, and prioritize good money management skills to avoid long-term financial strain.

In this episode of Financial Advisors Say The Darndest Things, A.B. Ridgeway delves into a historic financial scandal involving TD Bank, which has been fined a record-breaking $3 billion by U.S. authorities for money laundering violations. He explores how this case sheds light on the financial industry's vulnerabilities to criminal networks, especially drug cartels, and discusses the responsibilities financial institutions have in preventing illegal transactions. Tune in as A.B. breaks down key insights from the court case, regulatory implications, and what everyday listeners need to know to safeguard their own finances.3 Key Takeaways:Historic Fine and Admission of Guilt TD Bank faced a record-breaking $3 billion fine from U.S. regulators, marking the first time a bank has pleaded guilty to conspiracy to commit money laundering in the United States. This fine is part of a larger crackdown on financial institutions involved in illegal activities.Cartels and the Compliance Gap For nearly a decade, TD Bank allegedly enabled criminal organizations to launder money through its system by bypassing compliance protocols. This involved 92% of transactions going unmonitored, which amounted to approximately $18.3 trillion over six years.Implications for Financial Integrity The case sheds light on the responsibilities of banks to detect and report suspicious activities. With measures like Know Your Customer (KYC) and Customer Due Diligence (CDD) in place, the question arises as to why TD Bank's internal processes failed to prevent these actions.3 Notable Quotes:"By making its services convenient for criminals, TD Bank became one." — Attorney General Merrick Garland"This is the first time a bank has admitted to these charges... in most cases, banks settle and neither confirm nor deny the charges." — AB Ridgeway"Anti-money laundering is an international web of laws... aimed at uncovering money disguised as legitimate income." — AB RidgewayThese insights emphasize the importance of robust compliance measures in banking and the severe consequences when these systems fail to prevent illicit activities.

In this episode, host A.B. Ridgeway discusses the latest financial trend of 2024: "Loud Budgeting." Inspired by TikTok, this movement emphasizes openly setting financial boundaries and staying accountable to one's goals. A.B. explores the positives and potential pitfalls of this trend, emphasizing a Christian perspective on managing money wisely for the glory of God.Key TakeawaysLoud Budgeting is a Statement Rather than being subtle, "loud budgeting" encourages people to openly share their financial boundaries, empowering a culture where it's acceptable to prioritize financial health over excess spending.Being Cost-Conscious vs. Stingy Loud budgeting isn't about hoarding or being stingy; it's about making informed decisions and addressing small financial leaks that can drain resources over time.The Importance of Goals and Priorities Setting financial goals and understanding the purpose of money—as a tool for God's glory—helps individuals stay committed to budgeting and avoid frivolous expenditures.Memorable Quotes"We don't own anything; we are only using it for God's glory.""It's not about being stingy; it's about being cost-conscious.""The best thing you can do for the kingdom is to get out of debt so you can be a cheerful giver."

In this episode, A.B. Ridgeway dives into the recent sentencing of Caroline Ellison, former crypto executive, who played a significant role in the FTX fraud scandal, leading to billions in losses for investors. Ellison received a two-year prison sentence and a hefty financial penalty, which has sparked debate about justice in financial crimes. A.B. discusses the ripple effects of white-collar crime, the ethical dilemmas it presents, and the spiritual implications of such actions.Key Takeaways:The Discrepancy in Justice for Financial Crimes The two-year sentence for Ellison, given the scale of the FTX fraud, raises questions about consistency in sentencing, especially when compared to harsher penalties often faced by low-level offenders.The Human Impact of Financial Fraud Financial crimes like the FTX fraud don't just impact finances; they dismantle family legacies, affecting generations and leading to long-term societal consequences.The Importance of Integrity in Wealth Management A.B. emphasizes the role of faith and morality in finance, underscoring that a God-centered approach to money management should prevent such destructive actions. Financial advisors must keep humanity and integrity at the core of their work.Notable Quotes:"This individual stole billions from families, destroying legacies, yet she only gets two years, while others are behind bars for much less.""When you lose touch with humanity, people start to become numbers, and that's a scary thing about finances.""How can a God-fearing person do this to an individual? This is why faith must ground our decisions in finance."

A.B. Ridgeway's insights emphasize the importance of early saving, thoughtful spending, and a spiritual approach to wealth. By mastering these fundamentals, listeners are empowered to be both financially successful and spiritually grounded.3 Key TakeawaysStart Early and Stay Consistent The earlier you begin saving, the greater the financial impact. Starting today is the next best thing to starting yesterday, so take action now for long-term rewards.Set Clear Financial Priorities Make wise choices about what you spend on. Remember, saying “yes” to one thing often means saying “no” to another. Focus on what aligns with your goals and values.Embrace Financial Stewardship Recognize that ultimately, “God owns it all.” Use your resources to live well, help others, and leave a legacy. Balancing spending, saving, and giving is key to a fulfilling financial life.3 Memorable Quotes“Treat every dollar like a newborn child. You can't save money if you don't know where it's at.”“You can always save and buy anything that you want, but you can't buy everything. So choose wisely.”“If you don't get these things right, no amount of money that you make is going to help you.”

In this episode, A.B. Ridgeway discusses the story of an elderly woman who lost her life savings in an online scam. He shares insights on how these scams unfold, why financial institutions have limited abilities to intervene, and how individuals can protect their families by using tools like trusted contacts.Key Takeaways:Be Aware of Scam Tactics: Scammers often use fear, isolation, and secrecy to manipulate their victims. Understanding these tactics can help families recognize and prevent scams before they lead to financial loss.Establish a Trusted Contact: Setting up a trusted contact on financial accounts allows banks to notify a family member if unusual transactions are detected, providing an extra layer of protection without giving direct account access.Banks' Limited Power to Intervene: Although banks strive to protect customers, they face challenges in stopping transactions when clients insist on moving their own money. This episode clarifies the delicate balance banks must maintain between protecting assets and respecting clients' autonomy.Memorable Quotes:"Brothers and sisters, this doesn't just happen to other people. It can happen to us, too.""The three steps we talk about… temptation, isolation, and then the violation. Watch out for these three red flags.""Always have your financial five: your financial advisor, lawyer, tax accountant, power of attorney, and executor."This episode serves as a reminder to remain vigilant and proactive in protecting personal and family finances against online scams.

In this episode, A.B. Ridgeway dives into the popular FIRE movement (Financial Independence, Retire Early), challenging the idea of early retirement from a Christian perspective. He reflects on biblical teachings that highlight the importance of work as a form of service and fulfillment, not just a means to an end. He also shares cautionary tales about the emotional toll of retirement when it lacks purpose. Ridgeway provides practical tips for planning retirement with intention and continuing to live with purpose through it.Key Takeaways:Work is a Gift from God: According to Ecclesiastes 3:12-13, joy in work is a gift from God. Christians are called to view work as meaningful, not something to escape from, but as a way to contribute to the world.Retirement Despair is Real: Many retirees face depression when they retire without a sense of purpose. It's essential to retire to something, not just from something, and stay engaged in meaningful activities post-retirement.Start Living Your Retirement Goals Now: Don't wait until retirement to pursue your passions. Begin incorporating activities into your life now to ensure they bring fulfillment when the time comes.Quotes:"Work is not supposed to be hard. It's something we do with pleasure and love." — A.B. Ridgeway on finding joy in work and serving God through our daily efforts."Retirement despair is real. After the noise of work calms down, it's just you. What will you do?" — A.B. Ridgeway on the emotional challenges faced by many retirees."You'll always be working as God's stewards. It's not about escaping work but living with purpose." — A reminder that, as Christians, we are called to serve, even beyond our traditional working years.Tune in for more insights on how Christians should approach retirement with faith and purpose!

In this episode of Financial Advisors Say The Darndest Things, A.B. Ridgeway breaks down the crucial question: When is the right time to hire a financial advisor? Drawing from a conversation with a doctor calling into Dave Ramsey's show, the episode explores the tension between needing financial guidance and the fear of losing control over your wealth. A.B. and Dave Ramsey share essential insights on balancing trust, knowledge, and control in your financial life.3 Key TakeawaysThe Right Time to Hire a Financial Advisor is Early: A.B. Ridgeway emphasizes that financial planning should ideally start early, even during life events like residency, marriage, or starting a family—not just after earning significant income.Financial Advisors Should Teach, Not Take Over: Both A.B. and Dave stress that an advisor's role is to educate, not control. A great advisor offers options and guidance, ensuring the client remains in charge of their financial decisions.Trust the Process, Not Just the Person: It's normal to feel hesitant about hiring an advisor, especially with significant wealth. Dave advises clients to work only with advisors who have a “heart of a teacher,” emphasizing education over sales. A.B. adds that understanding how products fit into a broader financial plan is more important than mastering every technical detail.3 Memorable Quotes“I'm not here to tell you what to think. I am here to teach you how to think.” — A.B. Ridgeway on the role of a financial advisor.“The rule is: you don't work with a financial advisor who doesn't have the heart of a teacher.” — Dave Ramsey on the qualities to look for in an advisor.“Over-analysis causes paralysis. Make the best decision with the information you have.” — A.B. Ridgeway's advice on balancing knowledge and action in financial planning.Final Thoughts: This episode encourages listeners to take a proactive approach to financial planning. Whether you're early in your career or managing newfound wealth, finding the right advisor—one who educates and empowers—is essential. Remember, it's not about handing over control but equipping yourself to make better financial decisions.Tune in to learn more about aligning your financial decisions with your values and making informed choices with confidence!

In this episode, A.B. Ridgeway breaks down the often-confusing term "financial advisor," explaining how it serves as an umbrella for various financial professionals. He explores the differences between financial planners, brokers, and Registered Investment Advisors (RIAs). Listeners will learn about the significance of professional credentials and the importance of selecting the right advisor for their unique financial needs.3 Key Takeaways"Financial Advisor" is a Broad Term:The title can refer to various professionals, such as stockbrokers, financial planners, and RIAs, each serving different purposes.Credentials Matter—but Research is Key:Not all designations hold equal value. Certifications like CFP (Certified Financial Planner) and CPWA (Certified Private Wealth Advisor) indicate higher standards, but it's crucial to understand what each credential represents.Holistic Financial Planning Provides Greater Value:Unlike brokers who focus solely on investments, financial planners and RIAs take a comprehensive approach, covering everything from wealth transfer to retirement planning and tax strategies.3 Memorable Quotes“A financial advisor is like an umbrella term. A lot of people like to call themselves financial advisors, and that just may not be true.”A.B. Ridgeway highlights the importance of discernment when choosing a financial professional.“Just because someone has letters behind their name doesn't mean that credential really means anything.”A reminder to look beyond titles and dig deeper into what those credentials actually entail.“The more money you have, the more strategies you need to implement—and you need someone to help you implement them.”Ridgeway emphasizes the value of strategic financial planning, especially for high-net-worth individuals.This episode offers valuable insights into understanding financial advisors' roles and helps listeners make informed decisions when seeking professional guidance. Whether you're managing debt, planning for retirement, or building wealth, knowing the right type of advisor to work with is essential.

In this episode, A.B. Ridgeway dives deep into the truth behind cash back credit cards. While credit card rewards seem enticing, they may actually lead to hidden losses when fees outweigh the benefits. A.B. provides actionable advice on when to use credit cards versus debit cards, and how to avoid unnecessary costs for convenience.3 Key TakeawaysCash Back Isn't Free MoneyCash back is essentially a discount, not extra income. You could still be paying more through hidden processing fees.Processing Fees Eat into RewardsIf a purchase involves a 2.49% processing fee but only earns 1% cash back, you are losing 1.49% of your money.Use Credit Cards StrategicallyCredit cards offer fraud protection, but they shouldn't be used for every purchase. Large or recurring payments are often better handled through a debit account to avoid fees.3 Memorable Quotes“Cash back is nothing but a fancy coupon—just paying a little less.”“Why pay a couple hundred extra dollars to get $150 back of your own money that you didn't need to spend in the first place?”“We are paying for convenience—how much is that convenience worth to you?”Enjoyed this episode? Join our members-only section for exclusive content and more insights! Subscribe and click "Join" to become part of our growing community.

In this episode, A.B. Ridgeway dives into the lack of financial literacy education in the U.S. and its consequences. He reflects on how credit cards are introduced to students before they learn the basics of budgeting, saving, or understanding interest. A.B. explores practical steps to reverse this trend and empower listeners to become more financially literate through informed choices and better saving habits.3 Key TakeawaysLack of Early Financial Education is CostlyMost people enter adulthood without essential financial skills. This contributes to debt accumulation, with Americans now holding over $1 trillion in credit card debt.Inflation Erodes Purchasing PowerSavings accounts with low interest rates lose value over time when inflation rises faster. You must invest or seek better returns to avoid losing purchasing power.Financial Literacy Requires Continuous LearningFinancial knowledge isn't static. The ability to learn, unlearn, and relearn is essential for adapting to changing economic conditions and avoiding costly mistakes.3 Memorable Quotes“We were introduced to credit cards before we were introduced to savings accounts. And that is a scary thing.” – A.B. Ridgeway on the dangers of early exposure to debt without financial education.“Illiteracy is no longer the inability to read and write, but the inability to learn, unlearn, and relearn.” – A.B. Ridgeway on the importance of continuous education in personal finance.“You cannot save yourself from inflation.” – A reminder that saving alone won't protect against the loss of purchasing power due to inflation.Tune in to this episode to gain a deeper understanding of how financial literacy can empower you and future generations to make smarter financial decisions.

In this episode of Financial Advisors Say The Darndest Things, A.B. Ridgeway breaks down the essential steps for deciding if hiring a financial advisor is the right move. He discusses key life changes—like having a baby, marriage, or retirement—when financial advice may be most beneficial.You'll learn about different types of advisors and when to hire one: proactively before a major decision or reactively after. A.B. also explains various payment structures, including hourly rates, flat fees, and assets under management (AUM), weighing the pros and cons of each. With practical insights, this episode will help you understand how to get the best value from your advisor and avoid costly mistakes.Whether you're thinking about rolling over your 401k, planning for home improvements, or just want to strategize better for the future, this episode equips you with the tools and knowledge to confidently decide if and when to engage a financial advisor.Key TakeawaysTiming Matters: Hire Advisors ProactivelyIt's better to hire a financial advisor before making big financial decisions (like buying a house or vehicle) to avoid costly mistakes and lock in better rates. Reactive help might not fix pre-existing issues.Flexible Fee Structures to Fit Your NeedsFinancial advisors offer various pricing models: hourly fees, flat fees, and asset-based fees (AUM). Each has pros and cons, so it's essential to find the one that matches your situation and budget.Financial Advisors as Strategy ExpertsA good financial advisor can provide strategies beyond traditional savings, such as maximizing investments or minimizing tax liabilities through careful planning.Memorable Quotes"Having a financial advisor to guide you through different strategies is actually a good idea.""I think you should hire them before, because if you hire them after, everything is going to be reactive instead of proactive.""When your portfolio does well, your fees go up—but so does your wealth. You keep 99%, and your advisor gets 1-2%."

In this rare part two episode, A.B. Ridgeway revisits a compelling story about a customer's struggle with removing an ex from a joint account, resulting in a large sum being withdrawn without authorization. Through the breakdown of the call, A.B. highlights important financial lessons and practical customer service strategies for managing joint accounts effectively.3 Key TakeawaysTiming Your Leverage in Negotiations:Mentioning how long you've been a customer can be useful—but it's more effective when used later in the conversation, not at the start. Waiting allows you to use it as a bargaining tool when negotiations become more rigid.Keep Personal Records of Transactions:Always document interactions with banks, including who you spoke to, when, and the nature of the conversation. While banks keep notes on their side, having your own records provides an additional layer of protection.Joint Accounts Can Lead to Confusion if Not Managed Properly:Miscommunication about account ownership and permissions can lead to serious financial complications. Make sure all necessary paperwork is confirmed, especially when removing an authorized party from an account.3 Memorable Quotes from A.B. Ridgeway"Notes beat no notes."A reminder that thorough documentation helps protect consumers and institutions alike during disputes."Hold off on how long you've been a client—until they're unwilling to make any more adjustments."Wise advice on using your tenure as leverage during tough negotiations."The general public really doesn't know how joint accounts work."A candid observation on the importance of educating consumers about account management to avoid misunderstandings.Tune in to hear: A.B. Ridgeway's expert take on managing joint accounts, avoiding negotiation pitfalls, and the value of clear communication with financial institutions. Stay informed to prevent similar situations in your financial journey!

In this episode, A.B. Ridgeway challenges listeners to reflect on their financial priorities, specifically when it comes to building an emergency fund. Drawing from a report highlighting that one in four Americans have no emergency savings, A.B. discusses the common excuses people make for not saving and the mindset shifts necessary to prioritize financial security. He tackles the concepts of lifestyle creep, how inflation impacts saving, and the importance of setting financial goals to prepare for unexpected events. A.B. also emphasizes the importance of cutting back on unnecessary expenses to prioritize yourself and your family's well-being.Key Takeaways:Emergency Savings is Essential, Not Optional: One in four Americans don't have emergency savings, but having at least three to six months of living expenses saved is crucial for financial security.Lifestyle Creep is Real: As people earn more, their spending often increases, but maintaining a modest lifestyle while increasing savings can help combat this issue.Prioritize Yourself First: You can't help others financially if you're struggling yourself. Establish financial boundaries, save for your future, and only then consider discretionary spending.Notable Quotes:"You don't have emergency savings because you don't want to have emergency savings.""Set up a framework to say 'no' more now so you can have more 'yeses' later.""You need to prioritize your savings before you think about saving the world."

In this episode, A.B. Ridgeway tackles the ever-growing complexity of tipping in today's economy. As tipping expectations continue to rise, consumers are left wondering how much to tip, when to tip, and whether service fees really count as a tip. We explore the impact of tipping on both consumers and workers, as well as recent changes in wage laws that could shift the burden off the customer.Key Takeaways:Tipping Confusion: With so many service charges, delivery fees, and added costs, it's difficult to know when to tip and how much. Many consumers mistakenly believe these fees include gratuity.Wage Laws Are Changing: Several cities like New York and Seattle have introduced laws raising the minimum wage for app-based delivery drivers, which could ease the burden of tipping on consumers.Is It Our Responsibility?: A.B. Ridgeway argues that tipping shouldn't be the consumer's responsibility, especially when employers should be paying their workers a living wage. He emphasizes that tipping is becoming an unfair burden on customers.Top Quotes:"It's not the consumer's responsibility to pay a fair wage to someone they just met five minutes ago.""I'm glad they are raising the minimum wage. Unfortunately, they should have done that before.""Jobs that are truly impactful, like helping someone save for retirement, don't get tips—but we do the hard work."Tune in to hear how A.B. Ridgeway breaks down the confusing world of gratuity and explores ways to navigate this tipping fatigue.

In this episode, A.B. Ridgeway dives into the fascinating and unfortunate story of a woman who won a $9.8 million lawsuit and invested it all into a Golden Corral franchise, only to lose it all in just 52 days. Inspired by a clip from comedian Shuler King, A.B. dissects the financial decisions behind the scenes and offers his expert financial advisor perspective. What could she have done differently? And what lessons can we take from this bizarre scenario?Key Takeaways:Diversification is Key: Rather than putting all of your money into one venture, spreading your investments across various asset classes like real estate or stocks can provide financial security.Get Professional Advice: Consulting a financial advisor can help avoid impulsive decisions and ensure a strategic approach to managing large sums of money.Understand Financial Products: Not all investments are created equal. It's crucial to understand what financial products (like money markets and fixed annuities) can realistically offer in terms of returns.3 Quotes:"There ain't no way in the hell you spend $9.8 million on a Golden Corral.""You mess around and win a lawsuit or get a lot of money, your safest bet is to invest in something solid, like rental property.""A financial advisor can't guarantee 12%, but they can help you make better choices to grow your wealth over time."Subscribe to Financial Advisors Say The Darndest Things for more financial insights and visit A.B. Ridgeway on YouTube to watch the full breakdown of the lawsuit.

In this eye-opening episode, A.B. Ridgeway takes us through the harrowing experience of a man whose ex-wife drained their joint account of nearly $100,000. We explore the dangers of joint accounts, the importance of confirming financial paperwork, and how to stay calm when faced with financial crises. A.B. also provides actionable advice on preventing this kind of disaster and dealing with customer service effectively.Key Takeaways:Joint Accounts Come with Risks: No matter who contributes the most, joint account holders have equal access to all the funds. Removing a person from the account doesn't take effect until the paperwork is fully processed.Verify Paperwork with Financial Institutions: Never assume the process is complete until you receive written confirmation. Regularly follow up to ensure all actions are reflected on your account.Stay Calm with Customer Service: Emotions run high during financial crises, but keeping calm and strategic can help build bridges and resolve issues faster. Treat the customer service rep as an ally, not the enemy.Quotes:“When you have joint owners, regardless of who puts the money in, they have 100% access to every dollar.”“The person that you're dealing with is not the person who actually did the transaction. You can burn a bridge or build one to someone who can help.”“Sit and relax… you want to maintain your mental capacity to fight what's going forward.”Tune in for practical advice and insightful financial lessons!

In this episode, host A.B. Ridgeway discusses a common misconception about retirement: the idea that if you haven't saved enough, you can simply work longer. Featuring insights from economist Teresa Ghilarducci, A.B. Ridgeway challenges this notion and breaks down the harsh realities that many retirees face when trying to extend their working years. From the uneven distribution of longevity gains to the fallacy that all Americans can continue working well into their older years, this episode tackles one of the most critical financial issues today.Key Takeaways:Working longer isn't always an option: Many people assume they can just continue working if they haven't saved enough for retirement, but job loss, health issues, or caregiving responsibilities often prevent this.The wealthy live longer: Longevity gains are primarily enjoyed by wealthier individuals who have the resources to invest in their health, leaving the less wealthy with fewer options and more health-related retirement challenges.401k and savings systems need improvement: Although tools like the 401k have been available for decades, many Americans still don't save enough for retirement. A bold reform in retirement savings plans may be necessary to secure future financial stability.Top 3 Quotes:"Not everybody is living longer. The longevity gains over the past 40 years have mainly gone to the wealthiest Americans.""Half the people who are retired say that they didn't retire—they were retired. They were pushed out of their jobs due to layoffs, health issues, or caregiving responsibilities.""The 401k system just doesn't cut it. After 40 years, only half of the workforce is participating in a 401k plan at any one point in time."Tune in to this episode for a deeper understanding of why working longer might not be the safety net many believe it to be, and how you can better prepare for retirement.

In this episode of Financial Advisors Say The Darndest Things, A.B. Ridgeway delves into a cautionary story about the complexities of life insurance policies. We examine the experience of a family who discovered that their loved one's life insurance policy wasn't what they thought it was. Listen in as we break down the details of decreasing death benefits, unexpected payout amounts, and how to protect yourself from falling into similar traps.Key Takeaways:Decreasing Death Benefits – Many life insurance policies reduce payouts as the policyholder ages, leaving families with far less than expected.Understanding Your Policy is Critical – It's essential to know exactly how your life insurance policy works, from the premiums to the payout structure.Credit Card Payments Raise Red Flags – Paying life insurance premiums via credit card could signal financial strain and might be a sign of choosing the wrong type of policy.Memorable Quotes:“Insurance is meant to give people peace of mind that expenses will be taken care of after they pass, but not all life insurance policies are created equal.”“When I hear ‘decreasing death benefit' and ‘credit card payment,' my ears start bleeding as a financial advisor because I know this is going down a bad road.”“The majority of Americans don't know how their policy works. So how can they tell their loved ones in truth? They can't.”Tune in to learn how to avoid these pitfalls and ensure that your life insurance policy truly protects your loved ones.

In this episode, host A.B. Ridgeway dives into the rising trend of multi-generational living as an unexpected but beneficial solution to the financial challenges retirees are facing. With inflation and high living costs, many families are blending households, but is this a step backward or an opportunity to strengthen family bonds? A.B. discusses the importance of planning for retirement, the benefits of combining resources, and how unconventional solutions, like accessory dwelling units (ADUs), can enhance both financial and personal well-being.Key Takeaways:Financial Strain on Retirees: High inflation is making it difficult for many retirees to maintain their standard of living, causing some to move in with relatives.The Benefits of Multi-generational Living: Combining households not only reduces expenses but also offers emotional and practical benefits, such as shared childcare and closer family ties.Unorthodox Solutions Can Work: Accessory dwelling units (ADUs) and other shared living arrangements can be a practical, cost-saving approach without sacrificing independence.Memorable Quotes:"The goal is to retire and stay retired, but for many, that's no longer the reality.""Why pay for two mortgages when you can take those assets and put it into one family?""Just because it's not the way it's traditionally done doesn't mean it's not a way to be done." If you're unsure about your retirement plan or want to explore innovative ways to prepare for the future, schedule a free 30-minute consultation with A.B. Ridgeway. The link is in the episode description.

In this episode of Financial Advisors Say The Darndest Things, host A.B. Ridgeway breaks down a complex financial decision faced by many: should you roll your traditional 401k into a Roth? A listener from Dallas, Texas, asks whether it makes sense to convert her traditional 401k, with a large tax bill looming over her decision. A.B. provides expert insights into both the benefits and the potential drawbacks of making such a move.Key Takeaways:Tax Implications: Rolling over a traditional 401k into a Roth triggers taxes immediately, which could amount to a significant bill depending on the total assets. In this case, it could be as high as $300,000.Long-Term Planning: If you expect a higher tax rate in the future, converting to a Roth 401k could save you on taxes when you withdraw the money in retirement. This may be advantageous if your income will be lower after you retire.Company-Specific Options: Not all companies offer the option to roll over a traditional 401k into a Roth. You may need to check with your HR department to confirm what options are available for Roth In-Plan Conversions.Quotes:"A Roth In-Plan Conversion allows you to elect to convert any or all of your pre-tax assets to Roth assets. This gives you the chance to build tax-free retirement income." – A.B. Ridgeway"If we put it into a Roth, we can get it tax-free after five years." – A.B. Ridgeway"Make sure you check your company benefits or maybe check in with your human resource department to see if that's even available." – A.B. RidgewayCatch this episode for a deep dive into the intricacies of Roth 401k conversions and how to weigh the financial pros and cons!

In this episode, A.B. Ridgeway discusses the rise of romance scams, including a particularly devastating case involving a retired healthcare executive, "Sue," who lost $2.5 million. A.B. breaks down the tactics scammers use, from emotional manipulation to financial exploitation, and offers insights on how to protect yourself from falling victim. Sue's story is a cautionary tale that underscores the psychological depth of these scams and the importance of recognizing red flags early.3 Key Takeaways:Romance Scams Target Vulnerabilities: Even intelligent and financially savvy individuals can fall prey to romance scams, as these scams prey on emotional needs and loneliness.Psychological Manipulation is Key: Scammers build trust over time by feigning love and affection, making victims feel they are in an intimate relationship, which makes them more susceptible to giving away personal and financial information.No One is Immune: Whether you are wealthy, educated, or experienced, anyone can become a victim of these scams. It's important to stay vigilant and question the authenticity of online relationships, especially when money is involved.3 Quotes:“They fatten you up with compliments and how wonderful you are right before they slaughter you and take all of your money.”“It's not just dumb people getting scammed. Anybody can fall victim to this stuff.”“The reason they feel like somebody that you know is because you're sharing your personal information. They're using it to leverage more information out of you.”

In today's episode of Financial Advisors Say The Darndest Things, host A.B. Ridgeway breaks down why your credit card points may not be as valuable as they once were. With inflation driving prices up, the points you save may not stretch as far as they used to. Listen in as we explore inflation's impact on your purchasing power and offer strategies for maximizing your rewards.Key Takeaways:Credit Card Points are Like Money: The points you earn from using credit cards are losing value as inflation rises. Just like your dollars, your points now buy less.Inflation's Impact on Travel Rewards: Since 2019, the cost to redeem points for flights has skyrocketed. For example, a one-way flight from New York to London has doubled in point value—from 86,000 to 155,000.Strategies to Maximize Value: While inflation is unavoidable, you can still maximize your rewards by watching for big sign-up bonuses and being mindful of annual fees.Quotes:"As the price of goods goes up, the value of your dollar today goes down.""Think of those points and miles as money—they're getting a little bit less now.""A dollar today is worth more than a dollar tomorrow, and that applies to your credit card points too."Tune in now to learn how to protect the value of your hard-earned points!

In this episode, A.B. Ridgeway dives into the story of a 75-year-old man who fell victim to a romance scam, losing his life savings of $150,000. His son shares the heartbreaking journey of trying to intervene and the psychological challenges his father faces. Despite numerous warnings, the man continued to believe in the scam due to the powerful grip of the "sunken cost fallacy." This episode sheds light on the dangers of financial scams, the emotional toll of loneliness, and how scammers prey on vulnerable individuals.Key Takeaways:Sunken Cost Fallacy: People often continue investing in bad decisions because they've already invested so much, hoping for a better outcome.Romance Scams Target Anyone: It's not just women; men, too, can fall prey to romance scams, especially when they feel lonely.Loneliness and Vulnerability: Scammers prey on feelings of loneliness, using manipulation and promises of love to deceive and exploit their victims.Quotes:"This man gave the money away, but he's invested so much time into this romance, he wants it to pay off.""Loneliness is not a degree. Once you have that feeling, it's hard to overcome.""Cryptocurrency is great, but once the money's gone, it's gone. There's no way to trace it back."Tune in to learn more about how to protect yourself and your loved ones from financial scams!

In this episode of Financial Advisors Say The Darndest Things, A.B. Ridgeway breaks down the concept of lifestyle creep and how it could be silently sabotaging your financial freedom. Even with a six-figure salary, many Americans find themselves living paycheck to paycheck. A.B. dives into the psychology behind why we spend more as we earn more, and how this behavior can impact long-term financial security. Listen in as we explore practical strategies to overcome lifestyle inflation and build a more secure financial future.Key Takeaways:Understanding Lifestyle Creep: Even high earners can fall into the trap of lifestyle creep—spending more as they make more—often resulting in financial stress and reduced savings for the future.Psychological Factors Behind Overspending: Many people tie their perceived self-worth to material possessions, feeling like they "deserve" more due to hard work, which can drive excessive spending.The Importance of Living Within Your Means: Rather than upgrading your lifestyle with every raise, A.B. advises staying mindful of your long-term goals, encouraging listeners to save more and spend wisely to reduce financial anxiety in retirement.Memorable Quotes:“More than half of Americans with an income of $100,000 or higher are still living paycheck to paycheck. This may be the result of lifestyle creep.”“We feel entitled to live a certain lifestyle because we work so hard, but does the person with a million-dollar lifestyle really need two pairs of everything?”“You're only hurting yourself when you overspend. The person with the million-dollar lifestyle could be living a $500,000 lifestyle and saving the rest for future investments.”Tune in for actionable advice on how to avoid lifestyle creep and secure your financial future!

In this episode of Financial Advisors Say The Darndest Things, A.B. Ridgeway answers a question from Dominic in New Jersey, who asks, "How much should be my target for retirement?" Dominic is aiming for $3 million by age 62-67, but still worries that it might not be enough. A.B. breaks down how much you really need to retire, and whether those high retirement figures are realistic. He discusses 401k contributions, the importance of lifestyle in retirement planning, and how to balance aggressive versus conservative investment strategies.Key Takeaways:Retirement Targets Vary by Lifestyle: The amount you need for retirement depends largely on your lifestyle choices, including how much you plan to travel, give, and spend.Maximize Contributions Early: Maxing out your 401k and utilizing catch-up provisions after age 50 are key strategies for building a strong retirement nest egg.Contentment is Key: While financial targets are important, true contentment comes from learning to appreciate what you have, rather than always striving for more.Quotes:"The trick is to have a nest egg you can live off without touching the principal. Don't crack the egg or shoot the goose that's laying the golden eggs.""I've never met someone who says, 'I have too much,' but I have met people who can't find contentment because they're spiritually inept.""As Christians, we need to learn to be content with what we have—the food, water, shelter, and clothing that God has provided us."

In this episode of Financial Advisors Say The Darndest Things, host A.B. Ridgeway dives into the important changes coming to the Social Security Administration's online portal and what Social Security recipients need to do to stay informed. Whether you are nearing retirement, currently receiving benefits, or assisting a loved one with their finances, understanding these updates is crucial to safeguarding your financial future.Key Takeaways:Update Your Social Security Account: If you registered for a My SSA account before September 18, 2021, you must update your login credentials. New users need to register through either login.gov or ID.me.Plan Ahead for Retirement: Social Security may see benefit cuts by 2035, making it essential to prepare alternative sources of income. Don't rely solely on Social Security—be proactive with your financial planning.Break-Even Analysis: Determining when to take your Social Security benefits is key. Understand your break-even point to decide whether to take benefits early or delay them for a higher payout.Quotes:"Social Security shouldn't be your golden parachute. We need to be proactive, not reactive, with our retirement planning." — A.B. Ridgeway"If you wait until 70, you're getting up to 8% extra per year. These are benefits that are indexed for inflation, making Social Security a valuable source of income." — Jill Schlesinger"We cannot rely on the government to save us. Start early, plan your retirement, and make informed decisions." — A.B. RidgewayFor more in-depth financial guidance, download A.B. Ridgeway's Four Pillars to Christian Investing or book a free consultation through the link in the description.

In this episode of Financial Advisors Say The Darndest Things, host A.B. Ridgeway breaks down a dramatic call on the Dave Ramsey Show. A caller explains how his girlfriend, appointed as a payee for his inheritance, allegedly stole $40,000. A.B. Ridgeway explores the financial and emotional fallout, sharing key insights on how to protect your assets, avoid falling victim to fraud, and make wiser financial decisions in relationships.Key Takeaways:Protect Your Finances: It's crucial to maintain control over your financial accounts, especially when dealing with large sums of money like inheritances.Red Flags in Relationships: Trust is foundational in relationships, but financial dishonesty is a major warning sign. Don't ignore financial red flags.Seek Legal and Professional Advice: If money is missing or mismanaged, seek professional guidance immediately to recover losses and secure your financial future.Memorable Quotes:"I have a low threshold for dating criminals and people who commit fraud against me." – George Kamel"You gain clarity with information—don't rush to judgment before you know the full story." – A.B. Ridgeway"Why is she still your girlfriend after stealing $40,000? That would have been a dealbreaker for me." – Dave Ramsey

In today's episode, A.B. Ridgeway tackles a topic that is crucial for financial stability: replenishing your emergency fund. Whether you're single, married, or an entrepreneur, your emergency fund is your financial safety net when life throws the unexpected your way.Key Takeaways:Customizing Your Emergency Fund The standard advice is to save 3-6 months of living expenses, but your situation may require more. Families with dependents or entrepreneurs should consider saving up to 12-24 months of expenses to weather potential financial downturns.Cut Unnecessary Expenses Review your subscriptions and other automated payments. Many of us pay for services we no longer use. Cutting these out can free up funds to boost your savings without feeling a financial pinch.Budget Wisely Building an emergency fund starts with creating a realistic budget. Even small amounts can add up over time. Slowly chisel away at your savings goals by diverting funds from non-essential expenses.Quotes:“Like raindrops that suddenly start to fall, life can be full of surprises. An emergency fund is a financial umbrella ready to shield us from unexpected storms.” — Tamara Thomas“If you're truly going to prepare for the unexpected, you need to make sure you have the right amount of cash flow, not too much and not too little.” — A.B. Ridgeway“One of the best things you can do is print out your bank statement and see what services you're paying for but not using. You could free up money in your budget without sacrificing your lifestyle.” — A.B. RidgewayTune in to hear practical tips on how to build and maintain a robust emergency fund to safeguard your financial future!

In this episode of Financial Advisors Say The Darndest Things, A.B. Ridgeway, your host and favorite Christian Financial Advisor, dives deep into some of the most pressing financial questions from our listeners. From navigating the differences between a home equity loan and a home equity line of credit, to choosing the right short-term investments for retirement, A.B. offers sound advice and practical insights. Whether you're near retirement or just starting to invest, this episode has something for everyone.Key Takeaways:Short-Term vs. Long-Term Investments: Understanding the right investment for your time horizon is crucial. Short-term investments like CDs or money market accounts are ideal for those nearing retirement, while longer-term investments are better suited for those with time on their side.Home Equity Loan vs. Line of Credit: A home equity loan gives you a lump sum at a fixed rate, while a line of credit works like a credit card, allowing you to borrow against your home's equity as needed.Start Investing Early: For young professionals in their 20s, starting to invest in a 401k or other investment vehicles early can build long-term value, even if their employer doesn't offer matching contributions.Notable Quotes:"The biggest mistake that investors make is putting long-term money in short-term vehicles and short-term money in long-term vehicles." – A.B. Ridgeway"When it comes to home equity loans, you get the money all at once, while a line of credit allows you to use it as needed, almost like a credit card." – A.B. Ridgeway"Make sure you're aware of your company's benefits. Many contribute to their 401k assuming there's a match, but 75% of companies don't offer one." – A.B. RidgewayDisclaimer: The information shared in this episode is for educational purposes only and should not be considered financial advice. For personalized guidance, please seek a certified financial advisor.

In this episode of Financial Advisors Say The Darndest Things, A.B. Ridgeway shares a heartwarming yet insightful story of a Virginia father who gave his son a $1 million lottery ticket as a wedding gift. But amidst the celebration, A.B. explores the financial reality behind gambling, the lottery, and why smart money decisions—like consulting a financial advisor—are essential when large sums are at play. This episode offers a balanced perspective on risk, reward, and responsible financial planning.Key Takeaways:Lottery vs. Investment: While the lottery offers slim chances of winning, investing in diversified accounts provides a higher likelihood of success in the long term.Lump Sum vs. Annuity Payments: Choosing between a lump sum or annuity depends on financial habits. Lump sums work well when paired with sound financial advice, while annuity payments may benefit those prone to spending impulsively.The Value of Financial Guidance: Seeking help from a financial advisor, especially after a financial windfall, can set the foundation for long-term financial stability and success.Memorable Quotes:"Every dollar you contribute to the lottery contributes to someone else's winnings. I prefer to invest in things that will make me money.""The odds are in your favor when you invest versus when you gamble or play the lottery.""If you're someone who can't manage money, annuity payments can help you avoid spending everything at once."Additional Resources:Learn more about how financial advisors can help you make smarter money decisions by visiting ABRidgewayWealth.com.Interested in diversified investment strategies? Contact A.B. Ridgeway for personalized advice.

In this episode, A.B. Ridgeway, Christian financial advisor, unpacks the shocking story of a suburban woman who fell victim to the devastating "pig butchering" scam. Nearly $1 million of her life savings vanished as scammers preyed on her vulnerability. Learn about the signs of these scams, the tactics used, and the importance of staying vigilant when it comes to your investments. Protect yourself and your loved ones from becoming the next victim.Key Takeaways:Understanding Pig Butchering Scams: These scams involve building emotional connections with victims, enticing them to invest more, and then disappearing with their money. It's a form of romance scam with financial manipulation.Signs of Financial Fraud: Victims are often "fattened up" by scammers with flattery, promises of love, or lucrative returns on investments. Be cautious of anyone pressuring you to invest or send large sums of money quickly.The Importance of Discretion in Wealth: Wealth isn't about showing off, but about having the financial discretion to make choices without jeopardizing your livelihood. Even the most discreet investors can fall victim to fraud if they aren't careful.Quotes:"Fraudsters are going to fatten up the victims by enticing them to put more money into an investment, and then they're going to slaughter them by walking away and stealing their money.""Being wealthy is not about the accumulation of things. It's really about having discretion, the ability to work or not to work when you want to, how you want to.""Next time you see someone online talking about investing and getting quick money, you may just be the pig they're trying to fatten up."Subscribe to our YouTube channel, Financial Advisors Say The Darndest Things, for more insightful content that helps you protect your finances and live a more secure financial life. Stay safe, stay vigilant, and always double-check before making any major financial decisions!

In this sobering episode, A.B. Ridgeway discusses the tragic story of a solar panel salesman who signed a 25-year, $60,000 contract with a man suffering from stage 4 cancer. This heart-wrenching case serves as a powerful reminder of the importance of having a financial support system in place—particularly a power of attorney and executor—before tragedy strikes. Join A.B. as he dives into the moral implications of financial decisions and how we can protect our families from inheriting debts.3 Key Takeaways:Power of Attorney is Essential A strong financial plan should always include a power of attorney to prevent loved ones from inheriting unintended financial burdens, especially when the person is incapacitated.Beware of Predatory Sales Tactics It's vital to understand the moral implications of how money is made. Unscrupulous sales tactics targeting the elderly and ill can leave families drowning in debt.Verify and Protect Contracts Always ensure that family members have the proper legal documentation (such as a power of attorney) to manage financial matters and avoid signing contracts they don't fully understand or agree with.3 Memorable Quotes:“It's not about how much money you make; it's about how much money you keep, but most importantly, how you make that money.”“We are not our family's representative by birth... we must be appointed to that position by the courts, or we have to take that initiative.”“All money is not good money. Before you envy someone's wealth, make sure you know how they made it.”Tune in to learn how you can protect your family from financial predators and ensure that you leave behind a legacy, not debt.

In this episode, A.B. Ridgeway shares the shocking story of a financial expert who lost his life savings in a scam. Despite helping others safeguard their finances, he became a victim himself, losing over $200,000 and now facing an additional $30,000 in taxes. This tragic tale highlights the importance of vigilance, no matter how knowledgeable you are. A.B. Ridgeway explores how these scams unfold and provides crucial advice on how to protect yourself and your loved ones from similar traps.Key Takeaways:No One is Immune to Scams: Even experts can fall victim to well-crafted schemes. Being vigilant and consulting with your trusted financial advisors can reduce your risk.Importance of Verifying Information: Always verify claims, especially when it comes to finances. Contact companies or authorities directly rather than relying on unsolicited calls or emails.Assembling a Financial Team is Crucial: Your financial advisor, accountant, lawyer, and others in your financial circle should be consulted before making any major decisions, especially when under pressure.Notable Quotes:"I don't feel that I'm too smart to be scammed. I think we all need a humble pill to say it can happen to anyone.""They convinced him that he had done something illegal, and they had lots of proof. They told him they were federal law enforcement officers.""What do I always recommend? Go to your financial five—your financial advisor, accountant, lawyer, power of attorney, and executor. They will help you fight these scams."Tune in to learn how you can protect yourself from financial scams and avoid becoming another tragic statistic.

In this episode, A.B. Ridgeway discusses the future of Social Security and Medicare, emphasizing the challenges these programs face in the coming years. He provides a detailed breakdown of how potential cuts and insolvency could impact retirees by 2035 and why it's essential for individuals to create their own financial plans. A.B. urges listeners not to rely solely on government programs for retirement and instead take personal responsibility for their financial future.3 Key Takeaways:Social Security Cuts Are Likely: By 2035, Social Security is projected to reduce benefits by 20-25%, meaning individuals will receive only around 77% of their expected payouts.Medicare Faces Similar Challenges: Medicare could become insolvent by 2036, raising concerns for those who rely heavily on this essential healthcare program.Plan for Your Own Financial Future: Don't rely solely on Social Security for retirement. Start investing and saving now to create alternative sources of income that can support you in your later years.3 Memorable Quotes:"Social Security is not your golden parachute. We shouldn't be depending on Social Security anyway.""The government is not going to do it for you. This is a social program for everybody, not just for you.""Retirement is do it yourself. You need to take responsibility for your financial future."

In this episode of Financial Advisors Say The Darndest Things, A.B. Ridgeway discusses a heartbreaking story of a young couple who lost $775,000 in a wire fraud scam while purchasing their dream home. He shares critical advice on how to protect yourself during large financial transactions and the importance of having the right financial team to safeguard your assets.3 Key Takeaways:Verify All Wire Transfers Directly: Always confirm wire transfer details over the phone with your escrow agent to avoid email hacks that can lead to costly mistakes.Emotions Can Cloud Judgment: When emotionally invested in large transactions, it's easy to miss red flags. Having a financial advisor helps you make objective decisions.Invest in Professional Oversight: Whether it's a lawyer or financial advisor, spending money on expert help can prevent devastating financial losses, especially when large sums are involved.3 Quotes:"Red flags are very hard to see, especially when you're emotionally involved in a transaction.""You can make all the right decisions, but one financial mistake can destroy your financial circumstances.""The more money you have, the more you need people to look after that money because scammers are targeting those with significant assets."Listen to the full episode for more insights on protecting yourself from financial fraud!

In this eye-opening episode of Financial Advisors Say The Darndest Things, host A.B. Ridgeway dives into the rising epidemic of romance scams. This episode highlights the heartbreaking story of a Hilton Head woman who lost over $1 million to an online scammer. A.B. explores how scammers prey on emotional vulnerability, the tactics they use to build trust, and the devastating financial impact they leave behind. Don't miss the essential insights that can help you or someone you love avoid falling victim to these deceitful schemes.Key Takeaways:Romance scams are on the rise – In 2022 alone, more than $735 million was stolen from Americans through these schemes, with scammers exploiting emotional vulnerability over long periods of time.Scammers build trust gradually – They often spend months creating fake personas and elaborate backstories, gradually gaining their victims' trust before asking for large sums of money.No one is immune – Even financially savvy individuals can fall victim, particularly during emotionally vulnerable times, like after the loss of a loved one or a significant life event.Notable Quotes:“These scams are increasing year over year. They're not your normal scam that happens in a week or two weeks. It happens over months, six months, where people are gaining their trust.” – A.B. Ridgeway“She has thought this person was the love of her life so much that she imagined it, and it became her reality. No one could break it away from her.” – A.B. Ridgeway“The devil gets you at your weakest moments. I'm not saying she's a bad person, I'm saying she got caught up at the wrong moment.” – A.B. RidgewayTune in to learn how to protect yourself and your loved ones from falling victim to romance scams!

In this episode of Financial Advisors Say The Darndest Things, host A.B. Ridgeway dives into the growing threat of scam texts from unknown numbers and how they can jeopardize your phone, data, and financial security. From fake "hello" messages to malware-filled photos, these scams are designed to lure you into a trap. Tune in to learn how to avoid falling victim and keep your personal information safe.Key Takeaways:Beware of Unknown Texts: Even a simple message like "Hi, how are you?" from an unknown number could lead to malware installation if you engage with it.Don't Download Unknown Images: Hackers often send photos loaded with malware that can track your keystrokes, steal passwords, and lead to identity theft.Take Precautions: Always delete suspicious messages, report them as junk, and install antivirus software on your phone to detect potential threats.Memorable Quotes:"Even a simple ‘hello' text from an unknown number can be the start of a serious security breach.""Once you engage with the scammer, you've just validated that your number is active, making you a prime target for future attacks.""We spend so much time on our phones, but most of us don't protect them with antivirus software like we do our computers."

In this episode, A.B. Ridgeway dives into a concerning statistic: nearly half of Gen Xers believe they'll need a miracle to retire. With rising living costs and dwindling pensions, many are feeling unprepared for the future. A.B. breaks down the factors behind this financial crisis, explores how retirement planning has shifted over the years, and provides tips for how Gen Xers can take control of their financial future.3 Key Takeaways:Changing Retirement Landscape: Gen X is the first generation to rely primarily on 401k plans instead of pensions, leading to uncertainty and insufficient savings.Retirement is Do-It-Yourself: With the decline of employer-managed pensions and an unstable Social Security system, individuals must take full responsibility for their retirement planning.It's Not Too Late: Even if you're in your 50s, there is still time to contribute to your 401k and work with financial advisors to maximize your savings and retirement benefits.3 Quotes:"Retirement is do it yourself. You don't have to do it by yourself, but you are in control of saving for your retirement." – A.B. Ridgeway"The excuse that you didn't know or that no one told you is not true. But I do understand the fact that you didn't know if this was going to work or not." – A.B. Ridgeway"We can't depend on Social Security. We can't depend on Medicare. We can't depend on our job to give us a pension." – A.B. RidgewayTune in to this episode for practical advice and a deeper look at why retirement planning needs to be a priority for Generation X.

In this episode, A.B. Ridgeway discusses the concerning trend of more Americans withdrawing funds from their 401k and retirement accounts to cover day-to-day expenses and emergencies. Through real-life stories, A.B. highlights the financial risks of early withdrawals and emphasizes the importance of building a solid emergency fund and proper financial planning to avoid raiding retirement savings prematurely.Key Takeaways:Rising Hardship Withdrawals Increasing numbers of Americans are tapping into their 401k and retirement accounts to survive financial hardships. Inflation and economic pressures are pushing individuals to use their retirement savings as emergency funds.The Long-term Cost of Short-term Solutions Withdrawing from retirement accounts prematurely can lead to heavy penalties, taxes, and long-term financial consequences, leaving individuals unprepared for their future retirement needs.The Importance of Emergency Funds and Insurance Instead of relying on retirement savings for emergencies, individuals should focus on building emergency funds and considering insurance options like long-term care to handle unexpected expenses.Memorable Quotes:"Why are so many people using their 401k to fund their lifestyle? Is there a disconnect?" — A.B. Ridgeway highlights the growing concern of Americans relying on retirement savings for everyday expenses instead of financial planning."This is the mentality, ladies and gentlemen, that is making a majority of Americans go broke and not have retirement." — A.B. Ridgeway stresses the dangers of short-term decisions that jeopardize long-term financial stability."It's better to have it and not need it than to need it and not have it." — A.B. Ridgeway on the importance of preparing for medical emergencies with proper savings and insurance.

In this insightful episode, A.B. Ridgeway dives into a discussion about the real reason people are broke, drawing inspiration from Jade Warshaw's appearance on the Dave Ramsey Show. Jade shares her journey to paying off $460,000 of debt in eight years and debunks common financial myths, such as the notion that "money isn't a math problem." Together, we explore the emotional and psychological barriers that keep people in debt and why accountability and mindset are critical to achieving financial freedom.3 Key Takeaways:Mindset Over Math: While financial success requires understanding the math, mindset and behavior play a much larger role. Emotional barriers, not knowledge gaps, often keep people stuck in financial ruts.Accountability is Crucial: Taking responsibility for your financial decisions is key to breaking free from debt. If you signed the dotted line, it's up to you to pay back what you owe.Debt is More Than a Financial Problem: Jade emphasizes that financial problems often stem from deeper emotional and mental struggles. Until these issues are addressed, no amount of financial advice will stick.Notable Quotes:"When you realize the mess you've made, you have to start asking yourself real questions. It's beyond the money." – A.B. Ridgeway"Money is a math problem, but if you know the math and are still broke, it's because it's more than just about money." – Jade Warshaw"When you're in debt, there's this constant guilt. The other side of that is complete freedom." – Jade WarshawResources Mentioned:Jade Warshaw's new book: Money's Not a Math Problem: The Real Reason You're Broke and What