Podcasts about Roth IRA

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Best podcasts about Roth IRA

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Latest podcast episodes about Roth IRA

MoneyWise on Oneplace.com
Winds of Change With Mark Biller

MoneyWise on Oneplace.com

Play Episode Listen Later Jan 25, 2022 24:57


To support this ministry financially, visit: https://www.oneplace.com/donate/1085/29 Lots of folks are hoping that 2022 will be better than last year, but can investors afford to be that optimistic? Many analysts will tell you that stocks are overvalued right now. Does that mean we're heading for a serious market correction? Investing expert Mark Bill joins Rob West today to help answer that question. Mark Biller is executive editor atSound Mind Investing. One of the core appeals of Sound Mind Investing is that they provide an investment framework that isn't built on forecasting. That's unusual, because most of the investing worldisdriven by forecasts. Instead, SMI relies primarily on trend-following strategies, which means we don't have to continually try to figure out what the market is going to do next. That's a good thing, because most forecasts end up being wrong anyway. However, Mark Biller notes that the main vulnerability of trend-following strategies happens around market turning points, when the market is transitioning from one long-term trend to a new one. So in theirJanuary SMI newsletter, he outlined the reasons why SMI thinks the market is likely to experience one of those big trend changes this year and why investors may want to consider additional safeguards. HISTORICAL CONTEXT Over the past two to three decades, and certainly since the Financial Crisis in 2008, the Federal Reserve has increasingly taken actions that have caused investors to believe that the Fed will rescue them any time the financial markets start to slide. We've seen the Fed step in over and over again to rescue the financial markets when they fall, by cutting interest rates and initiating Quantitative Easing policies that support asset prices and investors. While the early examples of this go all the way back to 1987 and 1998, this Fed intervention in markets became a more-or-less permanent feature after the Financial Crisis in 2008. Every significant market decline over the past dozen years has been met with quick Fed intervention, which has caused every recent downturn to be short-lived and shallow. Investors haven't had to deal with a sustained bear market in more than a dozen years. Therefore, we now have a whole generation of investors conditioned to buy every market dip because the Fed won't let markets fall. The past dozen years has shown that the Fed could essentially get away with constantly stimulating financial markets without there being any immediately obvious negative consequences. This article explains why we think that may be changing. WHAT HAS CHANGED? When the COVID crisis hit two years ago, the Federal Government provided massive fiscal stimulus directly to individuals and businesses. That was a game-changer. Big picture, the Fed's quantitative easing support of the past dozen years tended to stay within the financial system. In other words, it inflated asset prices but didn't create the broad consumer inflation that many expected it to. When COVID hit and the Government put trillions of dollars directly into people's hands, that money went straight into the regular economy. And we've seen the impact of that as inflation has soared. That Government spending did exactly what it was intended to do, which was stop the most significant global recession in generations dead in its tracks. But it also reversed the 40-year disinflationary trend and unleashed the first bout of significant inflation that this generation of investors and central bankers has had to grapple with. IMPACT OF INFLATION Mark contends that inflation is the game-changer. Most investors agree that a significant driver of this huge 12-year stock bull market has been the constant liquidity provided by the Fed. Now the Fed is explicitly telling investors that they intend to take that liquidity away by stopping their asset purchases and eventually raising interest rates. That's a big change to the market environment. Every time the Fed has tried to pare back the liquidity they provide to the markets over the past dozen years, the stock market has experienced a significant decline. So that's the obvious implication of inflation the Fed is having to rapidly change their policies due to inflation running hot. The less obvious follow-on effect is what happens next if the stock market drops 20% at some point this year. Since 2008, 20% has been roughly the Fed's pain tolerance that's the level that has caused them to step back in and start supporting the stock market again. But all of those prior cases occurred when inflation was super low. That's why inflation is potentially the game changer today. If the market falls and the Fed races in to support investors as they have in the past, they risk pouring gas on the inflationary fire. For the first time in a long time, the Fed is going to have to balance fighting inflation against supporting asset markets. Investors could be in for a surprise, because it may be harder for the Fed to ride to the rescue this time around due to inflation pressures. FACTORS THAT COULD CAUSE MARKET DECLINE The first potential catalyst for a market decline is slowing economic growth. The smi article explains why they think we'll see weaker growth data as we get into the second quarter of this year. The second potential catalyst is the fact that we have an unfavorable political calendar ahead. SMI has done research in the past that shows the six months leading up to mid-term elections are by far the worst six months, on average, of each four-year political cycle. Not only is the average return in these pre-mid-term periods worse than the rest of the cycle, but there is a much higher rate of significant declines during these periods. This part of the cycle stretches from May-October of this year. While SMI wouldn't normally put much weight on that by itself, the fact that this timing coincides with all of the other catalysts gives it a bit more weight. The third is the looming fiscal cliff. This year, the federal deficit is forecast to decline by a huge amount nearly 4% of U.S. GDP. Reducing those deficits is probably the right thing to do, but it's clearly another market support that is being removed this year. Looking around the rest of the world, all of the largest countries are dramatically reducing their spending. So this massive global tailwind for financial markets is rapidly disappearing. And the last catalyst is perhaps the most concerning, and that is the tightening of monetary policy by the Fed discussed earlier. THE most important investing lesson of the past dozen years is that modern financial markets are driven by central bank liquidity. Every time the Fed has tried to cut that liquidity back, the stock market has stumbled. It's hard to see why that will be different this time. HOW TO PREPARE How investors should prepare depends on what their investment posture looks like now. SMI strategies already have some defensive capabilities built in. So SMI investors likely do not need to take significant additional steps to protect their portfolios. However, SMI included aseparate articlein the January newsletter that discussed several easy ways to add defensive protection to their portfolios. For listeners who aren't following SMI strategies, the goal here is really just to make them aware that a significant change to the market environment may be looming. Mark contends that the risks are significant enough to warrant shifting focus away from maximizing gains which has been the posture of most investors for the past year-and-a-half toward minimizing risk. Beyond that, if you already have a fairly defensive portfolio, you may not need to change anything. If you have an aggressive portfolio with lots of growth stocks or other riskier assets, you should probably at least think about how you would handle a 20% or greater correction in those prices. However, most investors who are employing a well diversified,long-termdollar-cost averaging strategy probably won't need to make any big changes, provided they're not close to retirement. But if they are concerned, they can tweak their allocations to be a bit more conservative. The biggest challenge is for those who are either already retired or getting close to retirement. They don't have as much time to recover from bear markets. HOW TO GET MORE CONSVERATIVE If you choose to make your investment portfolio more conservative, Mark says the easiest way to do that is to reduce the allocation to stocks and increase the allocation to bonds. Beyond that, tilting toward value stocks rather than growth stocks could help. Also, consider more diversification into things like real estate, commodities, even a small amount of gold. You can read more about changes coming in SMI's article, Winds of Change Are Blowing: Casting a Wary Eye on 2022. LISTENER QUESTIONS On today's program, Rob also answers listener questions: ●What factors determine whether it's wise to purchase a vacation property? ●What is the best way to use the proceeds from the sale of an inherited home? ●How do you manage a Roth IRA with a previous employer when changing jobs? Remember, you can call in to ask your questions most days at (800) 525-7000 or email them toQuestions@MoneyWise.org. Also, visit our website atMoneyWise.orgwhere you can connect with a MoneyWise Coach, join the MoneyWise Community, and even download the free MoneyWise app. Like and Follow us on Facebook atMoneyWise Mediafor videos and the very latest discussion!Remember that it's your prayerful and financial support that keeps MoneyWise on the air. Help us continue this outreach by clicking theDonate tab on our websiteor in our app.

CBS Eye on Money
Kids and Money

CBS Eye on Money

Play Episode Listen Later Jan 25, 2022 11:40


I joined CBS Mornings to discuss when to start teaching your kids about money, and what topics to talk about with kids of different ages.Have a money question? Email us, ask jill [at] jill on money dot com.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Directed IRA Podcast
Ep 48- Saving for College: 529 v Coverdell v ROTH IRA

Directed IRA Podcast

Play Episode Listen Later Jan 24, 2022 29:31


Join Mark and Mat as they answer your difficult Self-Directed retirement plan questions. Mark and Mat weigh the pros and cons of the 529, Roth IRA, and Coverdale when saving for college. To submit your questions, listen, search for prior episodes, or sign up for their Weekly Free Newsletter, visit https://directedira.com/podcast

DIY Money | Personal Finance, Budgeting, Debt, Savings, Investing

On this episode of DIY Money, Daniel and Logan discuss where you can invest if you are unable to invest in a Roth IRA.

How to Money
Ask HTM - Acorns Accounts vs Student Loans, Investing For a Wedding, & Babies on the Cheap #466

How to Money

Play Episode Listen Later Jan 24, 2022 56:52


We're kicking off the week by answering listener questions! And if you have a question that you'd like for us to answer on the show, we'd love for you to submit your own via HowToMoney.com/ask , send us your voice memo. Regardless of how random or bizarre you might think it is, we want to hear it! 1 - Should I continue investing in my Acorns account or pay off my student loans? 2 - Where should I invest money for a wedding? 3 - Does it make sense to deduct depreciation on real estate, even when the IRS recaptures that depreciation when I sell that property? 4 - How do I go about converting a non-deductible traditional IRA to a Roth IRA? 5 - As I have a little one on the way, can you share some of your money saving baby hacks? During this episode we enjoyed a Hatch Me Outside by Crosstown Brewing - a big thanks to Ben for donating this delicious craft beer to the podcast! And please help us to spread the word by letting friends and family know about How to Money! Hit the share button, subscribe if you're not already a regular listener, and give us a quick review in Apple Podcasts or wherever you get your podcasts. Help us to change the conversation around personal finance and get more people doing smart things with their money! Best friends out! Learn more about your ad-choices at https://www.iheartpodcastnetwork.com

Secure Your Retirement
2022 Tax Guide and Updates

Secure Your Retirement

Play Episode Listen Later Jan 24, 2022 28:37


Are you aware of the tax situation for 2022? Things have changed when it comes to tax as they do every year and 2022 is no exception. It is important to have information on what you can do and how you'll be impacted as you proceed to make your financial goals for 2022. In this episode of the Secure Your Retirement podcast, we talk about the 2022 tax changes to help guide you to better financial goals. We discuss ordinary tax, long-term capital gains, Medicare, social security, and some other things about tax that you need to know for 2022. In this episode, find out: ●     The expected changes on the ordinary tax situation according to your tax bracket. ●     A tiered tax system – understanding the adjusted gross income and how to calculate your effective tax rate. ●     Understanding why tax rates will go up in the near future as you plan and strategize. ●     The changes in standard deductions and how they will affect your income in 2022 as a single or married earner. ●     How your salary deferred retirement plans will be tax impacted.   ●     The capital gains tax changes and why it's advantageous to have a long-term capital gain plan. ●     Why social security is taxable, and to what degree of income it's taxable. ●     The expected increases on your Medicare Premium Part B in 2022. ●     How income outside of your social security will lead to a penalty or reduced benefits. ●     How you can contribute to a Roth IRA in 2022 and why you should. Tweetable Quotes: ●     “The long-term and short-term thing does not apply at all in the ordinary income tax.”- Radon Stancil ●     “There are limitations as to how much income you can make if you take social security early.”- Murs Tariq Resources: If you are in or nearing retirement and you want to gain clarity on what questions you should be asking, learn what the biggest retirement myths are, and identify what you can do to achieve peace of mind for your retirement, get started today by requesting our complimentary video course, Four Steps to Secure Your Retirement! To access the course, simply visit https://pomwealth.net/3-keys-to-secure-your-retirementlp/ (POMWealth.net/podcast.)

The Retirement and IRA Show
Social Security, 403(b)s, Roth IRAs, Conversions, and Investing: Q&A #2204

The Retirement and IRA Show

Play Episode Listen Later Jan 22, 2022 50:00


Jim and Chris answer questions relating to Social Security, 403(b) QCDs, Roth IRA contribution limits, Roth conversions, and investing. (5:30) George from Pennsylvania asks about potentially pausing his Social Security benefit. (13:15) George from Alabama looks for clarification on the rules behind making QCDs in a 403(b) account. (22:00) George from New Mexico looks for […] The post Social Security, 403(b)s, Roth IRAs, Conversions, and Investing: Q&A #2204 appeared first on The Retirement and IRA Show.

The Investing for Beginners Podcast - Your Path to Financial Freedom
IFB217: Investing in Carbon Credits and Useful Metrics for Beginners

The Investing for Beginners Podcast - Your Path to Financial Freedom

Play Episode Listen Later Jan 20, 2022


Welcome to the Investing for Beginners podcast. In today's show, we discuss: What kinds of stocks or investments can you put in a Roth IRA? How does investing in carbon credits or green investments work? What kind of metrics should beginners start with, and how can they help you learn about the finanicials of a […] The post IFB217: Investing in Carbon Credits and Useful Metrics for Beginners appeared first on Investing for Beginners 101.

CBS Eye on Money
Should We Move to Canada for Lower Tuition?

CBS Eye on Money

Play Episode Listen Later Jan 20, 2022 18:42


Given how crazy the cost of college is in the U.S., should we consider moving to Canada for some cheaper options? Have a money question? Email us, ask jill [at] jill on money dot com.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The Jon DiVito Show
Interview: John Gale

The Jon DiVito Show

Play Episode Listen Later Jan 19, 2022 59:07


We had a very good show today. We had to shift gears when our guest couldn't make it due to Covid. We had John Gale call in. We talked about fights at Boston restaurants over Vaccine ID Cards. We also talked about the HORRIBLE treatment of Shana Cottone! She was put on leave after serving Boston for 14 years! She was a police sergeant. She pushed back against the establishment and was fired! She was a hero during the Boston Marathon bombing! We had an excellent conversation about a variety of different topis. Thank you to my Co-Host Eric for calling in as well. We also had Ziller join the panel.  For the last 15-20 minutes, we share some investing ideas. The theme of the show was supposed to be about money and investing. So we talked about paying yourself first. We suggested to start saving young. We talked about 401K's, IRA's, and Roth IRA's. We also talked about the importance of P/E ratio's when looking at individual stocks. We finished up talking about Crypto.  Follow us on: Facebook: The Jon DiVito Show @thejondivitopodcast Twitter: The_Jon_DiVito_Show  @DiVitoThe Instagram: Jon_DiVito Gettr: @jdivitopod Parlor: @thejondivitoshow Email me at thejondivitoshow@gmail.com

The Retirement and IRA Show
Excess Roth IRA Contributions: EDU #2203

The Retirement and IRA Show

Play Episode Listen Later Jan 19, 2022 71:20


Jim and Chris sit down to discuss an Ohio listeners general question about making excess contributions to a Roth IRA. The post Excess Roth IRA Contributions: EDU #2203 appeared first on The Retirement and IRA Show.

The Personal Finance Podcast
From Flipping Couches to Flipping Houses With Ryan Pineda

The Personal Finance Podcast

Play Episode Listen Later Jan 19, 2022 66:28


90. From Flipping Couches to Flipping Houses With Ryan Pineda  Ryans Free course and community: wealthyway.com Ryans couch flipping video ============== FREE GUIDES: ============== -Check out the free guide on where to put your money in what order!  https://www.mastermoney.co/stairway-to-wealth -Here is the free How to Ask for A Raise ebook! https://www.mastermoney.co/get-a-raise-ebook -Get Access to the 75 Day Challenge: https://www.mastermoney.co/75daychallenge  ============= We have a YOUTUBE channel! Check it out here!  Our Latest Videos:  5 Index Funds to Hold for Life!  What Would Happen If You Maxed Out Your Roth IRA By Age?! (These Results Will Amaze You!) How to Become a Millionaire With a Small Amount of Money (Is it Really This Easy!?) ============ Got questions? Ask me on Instagram Here. @mastermoneyco This is the fastest way to get in touch with me.  ============ Sponsors:  Thank you to Better Help for sponsoring the show! Check them out at betterhelp.com/pfp Thanks to Policygenius For Sponsoring the show! Check them out a Policygenius.com Thanks to Mint Mobile for supporting the show! Cut your phone bill to $15 a month by going to https://mintmobile.com/pfp Thanks to Ladder for Sponsoring the Show. Go to Ladderlife.com/pfp Thanks to Fundrise for Sponsoring the show! Invest in real estate for as little as $10 by going to fundrise.com/personalfinance Thank you to Hello Fresh for sponsoring the show! Go to Hello Fresh and use code PFP16 for 16 free meals and 3 free gifts.    ============   Want to Support the Show? Follow on Spotify or Follow and Leave a 5-Star Review on Apple Podcasts! ============ Today We Discuss:  One of the best side-hustles for people starting out.  How Ryan Got Started Investing In Real Estate The systems Ryan uses to invest in real estate.  Ryan's daily habits that allow him to work less and make more.  The Wealthy Way!  ============ Episodes Mentioned More Episodes You Will Love:  The Stairway to Wealth 2.0 (The Order You Should Put Your Money in!) How to Track Your Net Worth How to Set Money Goals You Will Actually Achieve How to Read a Book Per Week (My Unbelievably Simple System!) How To Prevent Lifestyle Creep (Lifestyle Inflation) ============ Check out all the Stuff I Recommend!  USEFUL RESOURCES: Best Place to Open a Roth IRA: https://m1finance.8bxp97.net/5vzD1 My Favorite Free Net Worth and Budget Tool: https://fxo.co/905L Best Online Bank: https://bit.ly/3ENRIDu Get a $10 Free Bonus with Acorns: https://bit.ly/3lV0LLE Best Bank and Debit Card for Kids: https://bit.ly/3pJeI09  Get $5 Free Bitcoin at Coinbase: https://bit.ly/3oIQOml Best Personal Finance Books: https://kit.co/MasterMoney/best-personal-finance-books  ============ DISCLAIMER: I am not a financial adviser. This Podcast is for educational purposes only. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. It is imperative that you conduct your own research. I am sharing my opinion.  AFFILIATE DISCLOSURE: Some of the links on this channel are affiliate links, meaning, at NO additional cost to you, I may earn a commission if you click through and make a purchase and/or subscribe. However, this does not impact my opinion. ============ Check us out on social fam!  Twitter Dollar After Dollar Instagram www.thepersonalfinancepodcast.com www.dollarafterdollar.com www.mastermoney.co Learn more about your ad choices. Visit megaphone.fm/adchoices

Let’s Talk Cheer
Why cheer coaches don't share scores with their teams

Let’s Talk Cheer

Play Episode Listen Later Jan 18, 2022 71:07


In this episode Jason Larkins answers the question of the week and explains why coaches don't share scores or judges notes with their own team.

Your Money, Your Wealth
Financially Able But Afraid to Retire - 361

Your Money, Your Wealth

Play Episode Listen Later Jan 18, 2022 31:21


The psychology of retirement: what if you've saved enough and you're financially ready to retire, but you're paralyzed by the idea of no longer earning and saving? Plus, a Roth conversion strategy when your income is too high. How to know if it pays for you to convert & how much, and should you contribute to a rollover IRA before or after leaving a job? Finally, should you purchase long-term care insurance or self-insure? Show notes, free financial resources, Ask Joe & Al On Air: https://bizlink.to/ymyw-361

CBS Eye on Money
How to Allocate My Retirement Investments?

CBS Eye on Money

Play Episode Listen Later Jan 18, 2022 21:34


When it comes to my pre-tax and Roth 401(k), how should each side be allocated?Have a money question? Email us, ask jill [at] jill on money dot com.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

MoneyWise on Oneplace.com
Money Tips for the New Year.

MoneyWise on Oneplace.com

Play Episode Listen Later Jan 15, 2022 24:57


To support this ministry financially, visit: https://www.oneplace.com/donate/1085/29 The holidays are over and it's time to make some changes to improve your finances in the coming year. And today on MoneyWise, we have a list of tips to get you started. MONEY TIPS FOR 2022 1. MAKE A SPENDING PLAN:First, take a good look at your budget and make any necessary changes for the coming year. You will need to account for rising inflation on everything from fuel to electronics to groceries. You may need to cut spending in other areas, like entertainment, to compensate for those cost increases. TheMoneyWise Appis a powerful budgeting tool with three different ways to choose from for budgeting your money. 2. SET UP AN EMERGENCY FUND:Another important step to improve your finances is to finally set up your emergency fund. Your emergency fund helps you stay out of debt when you're hit with the unexpected.Open a savings account at an online bank and have something out of every paycheck automatically transferred to it. Cut discretionary spending to give yourself margin. Set a goal to save $1500. Your next emergency fund goal is to save one month's living expenses. Then three months. Ideally, keep going until you have six months' expenses saved up. You may not get there this year, but don't worry about that. Just get started! 3. MAKE A GIVING PLAN:As you tweak your budget, one area you definitely don't want to cut back on is giving to your local church. Make a plan for how much you intend to give this year. Remember, the tithe is just the training wheels for giving. Prayerfully consider giving more than last year. 4. MAKE A WILL:Make this the year you finally draw up a will. Save your loved ones the unnecessary trauma of having the probate court decide how your estate is settled should something happen to you. This is critical if you have young dependents because a will gives you the opportunity to name a legal guardian. 5. PREPARE FOR RISING INTEREST RATES:With inflation back, the Federal Reserve is planning to raise interest rates soon. If you're unfortunate enough to have a variable rate mortgage, start planning for higher monthly payments. The same is true if you have a home equity line of credit. It also means that interest rates are likely to rise on consumer debt, like credit cards. If you have credit card debt, make a plan now to pay it off as soon as possible. 6. CONSIDER INCREASING RETIREMENT CONTRIBUTIONS:Next, consider bumping up your retirement contributions if you're not on track to reach your goals. Take advantage of any employer matching funds to your 401k. You can contribute up to $20,500 to your 401k in 2022. If you don't have a 401k at work, set up a Roth IRA. You can contribute up to $6,000 in 2022 or $7,000 if you're 50 or older. 7. GET READY FOR TAX SEASON:The last year saw major changes in work settings due to COVID. If you work from home, you may be eligible for more deductions. Working from home means you can deduct a portion of your home expenses if you meet the requirements. If you're used to doing your own taxes, with or without a computer program, particularly if you're working as a 1099 contractor, this might be one year to take your taxes to a professional because things get a lot more complicated. You don't want to miss any deductions. LISTENER QUESTIONS On today's program, Rob also answers listener questions: ●What should a widow do with her spouse's pension? ●How can you continue to save for emergencies when money is tight? ●Is there a way to unload an unwanted timeshare? ●When does it make sense to pull money out of an annuity? RESOURCES MENTIONED DURING THIS PROGRAM ●Find a Certified Kingdom Advisor ●MoneyWise App Remember, you can call in to ask your questions most days at (800) 525-7000 or email them toQuestions@MoneyWise.org. Also, visit our website atMoneyWise.orgwhere you can connect with a MoneyWise Coach, join the MoneyWise Community, and even download the free MoneyWise app. Like and Follow us on Facebook atMoneyWise Mediafor videos and the very latest discussion!Remember that it's your prayerful and financial support that keeps MoneyWise on the air. Help us continue this outreach by clicking theDonate tab on our websiteor in our app.

Directed IRA Podcast
Ep 47- OPEN FORUM SHOW - Self-Directed Retirement Plan Questions

Directed IRA Podcast

Play Episode Listen Later Jan 14, 2022 62:16


Join Mark and Mat as they answer your difficult Self-Directed retirement plan questions. Mark and Mat dive deep into all of your questions on Self Directing your Roth IRA, 401(k), Traditional IRA, Coverdale, HSA, and more. To submit your questions, listen, search for prior episodes, or sign up for their Weekly Free Newsletter, visit https://directedira.com/podcast

MoneyWise on Oneplace.com
Financial Ed for Kids

MoneyWise on Oneplace.com

Play Episode Listen Later Jan 13, 2022 24:57


To support this ministry financially, visit: https://www.oneplace.com/donate/1085/29 We all want our children to be pure and upright in their walk with Christ, and that certainly includes how they manage money. Today on MoneyWise, we'll discuss several ways you can help them do that! After sharing the Gospel with your children, one of the most valuable gifts you can give them is teaching them God's financial principles. Children need to learn that you work hard for the money that supports the family, that you're not an ATM machine with unlimited funds. They need to work as well to receive material rewards and the satisfaction that comes with doing a job well. They need to learn how to budget and spend carefully because there's never enough money to do or buy everything we want. They need to learn how to save, not just for rewards, but to cover unexpected expenses. And most importantly, they need to learn how to give, to be generous to God's Kingdom. A recent article from the secular financial websiteHumble Dollarcaught my eye because it lists several strategies for teaching wise money management to children. SHARE THE BIG PICTURE WITH YOUR KIDS Share many of your expenses with your kids to help them get an idea of how expensive things are and what it takes to provide. Show them your mortgage and car payments and your weekly grocery costs. You might also show them your retirement account statement. That can give them a sense of how important it is to save for the future and how much time and effort it takes to build up a nest egg. MANAGING CREDIT Managing credit wisely is another extremely valuable lesson for older children. When they head off to college, they'll be inundated with credit card offers. Far too often, they fall victim to this and run up consumer debt on top of any loans taken out for education. Teach them about creditbeforethey reach college age. You could make them authorized users on your credit card, but a better way might be to open asecured credit cardaccount for your teen. PLANNING AND ALLOCATING MONEY A three-jar system is a time-tested tool. That's one jar for saving, one for spending, and one for giving. But you can take that a step further. Have your children put some of their own money in the collection plate each Sunday. The earlier you teach them to be generous to their church, the better! TAXES Another valuable lesson for kids is that they'll have to pay taxes, maybe sooner than later. If your teen has a job, the employer may withhold taxes. That means the child will have to file a return even though they may not have to pay taxes. You would probably use the 1040EZ form, but filling it out with your child would be an eye-opening experience. Impress on your child the importance of being scrupulously honest about money owed to the government. Romans 13:6-7 reads, For because of this you also pay taxes, for the authorities are ministers of God, attending to this very thing. Pay to all what is owed to them: taxes to whom taxes are owed, revenue to whom revenue is owed, respect to whom respect is owed, honor to whom honor is owed. SAVING FOR BIG PURCHASES The last money lesson for your kids involves saving for and buying major purchases. This is a great way to teach budgeting. Help them set up a saving plan where they are at least providing some portion of the money needed for the purchase. The percentage isn't important. The main thing is to have the child participate in the purchase with their own money. The same principle can apply to long term saving. Set up a 529 education savings plan or a Roth IRA for your child and then you can offer to match contributions. This would teach the value of delayed gratification. LISTENER QUESTIONS On today's program, Rob also answers listener questions: ●How should you manage funds in your 401k asyou near retirement age? ●Should you continue paying a mortgage in retirement or sell and rent? ●What are the costs andbenefits of a revocable living trust? ●How do you determine if it's best to refinance your mortgage or pay it off? ● Remember, you can call in to ask your questions most days at (800) 525-7000 or email them toQuestions@MoneyWise.org. Also, visit our website atMoneyWise.orgwhere you can connect with a MoneyWise Coach, join the MoneyWise Community, and even download the free MoneyWise app. Like and Follow us on Facebook atMoneyWise Mediafor videos and the very latest discussion!Remember that it's your prayerful and financial support that keeps MoneyWise on the air. Help us continue this outreach by clicking theDonate tab on our websiteor in our app.

CBS Eye on Money
At 37 and 38, Are We on Track?

CBS Eye on Money

Play Episode Listen Later Jan 13, 2022 21:28


As we approach our 40s, are we on track to accomplish our retirement goals? Have a money question? Email us, ask jill [at] jill on money dot com.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Denver Real Estate Investing Podcast
#336: Ask an Investor: Should I Tap into Roth IRA, Equity, or Savings to Buy My Next Rental?

Denver Real Estate Investing Podcast

Play Episode Listen Later Jan 12, 2022 47:19


We're back with another episode of Ask an Investor. Our guest is Ben Einspahr, who recently left his W2 job to join EA, and wants to find out the best way to plan the purchase of his next property. Listen to the episode to learn about the pros and cons of using equity, savings, or retirement accounts to invest in real estate

The Personal Finance Podcast
How to Become a Millionaire (By Age)!

The Personal Finance Podcast

Play Episode Listen Later Jan 12, 2022 35:56


89. How to Become a Millionaire (By Age!) Check out The Millionaire Next Door and my other favorite Personal Finance books here: https://kit.co/MasterMoney/best-personal-finance-books  FREE GUIDES: ============== -Check out the free guide on where to put your money in what order!  https://www.mastermoney.co/stairway-to-wealth -Here is the free How to Ask for A Raise ebook! https://www.mastermoney.co/get-a-raise-ebook -Get Access to the 75 Day Challenge: https://www.mastermoney.co/75daychallenge  ============= We have a YOUTUBE channel! Check it out here!  Our Latest Videos:  5 Index Funds to Hold for Life!  What Would Happen If You Maxed Out Your Roth IRA By Age?! (These Results Will Amaze You!) How to Become a Millionaire With a Small Amount of Money (Is it Really This Easy!?) ============ Got questions? Ask me on Instagram Here. @mastermoneyco This is the fastest way to get in touch with me.  ============ Sponsors:  Thank you to Better Help for sponsoring the show! Check them out at betterhelp.com/pfp Thanks to Policygenius For Sponsoring the show! Check them out a Policygenius.com Thanks to Mint Mobile for supporting the show! Cut your phone bill to $15 a month by going to https://mintmobile.com/pfp Thanks to Ladder for Sponsoring the Show. Go to Ladderlife.com/pfp Thanks to Fundrise for Sponsoring the show! Invest in real estate for as little as $10 by going to fundrise.com/personalfinance   ============   Want to Support the Show? Follow on Spotify or Follow and Leave a 5-Star Review on Apple Podcasts! ============ Today We Discuss:  How much do you need to save every month to become a millionaire? How much you should already have invested by age.  What to do with your money each decade.  Why the '20s are your best time to invest (and more!).  ============ Episodes Mentioned More Episodes You Will Love:  The Stairway to Wealth 2.0 (The Order You Should Put Your Money in!) How to Track Your Net Worth How to Set Money Goals You Will Actually Achieve How to Read a Book Per Week (My Unbelievably Simple System!) How To Prevent Lifestyle Creep (Lifestyle Inflation) ============ Check out all the Stuff I Recommend!  USEFUL RESOURCES: Best Place to Open a Roth IRA: https://m1finance.8bxp97.net/5vzD1 My Favorite Free Net Worth and Budget Tool: https://fxo.co/905L Best Online Bank: https://bit.ly/3ENRIDu Get a $10 Free Bonus with Acorns: https://bit.ly/3lV0LLE Best Bank and Debit Card for Kids: https://bit.ly/3pJeI09  Get $5 Free Bitcoin at Coinbase: https://bit.ly/3oIQOml Best Personal Finance Books: https://kit.co/MasterMoney/best-personal-finance-books  ============ DISCLAIMER: I am not a financial adviser. This Podcast is for educational purposes only. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. It is imperative that you conduct your own research. I am sharing my opinion.  AFFILIATE DISCLOSURE: Some of the links on this channel are affiliate links, meaning, at NO additional cost to you, I may earn a commission if you click through and make a purchase and/or subscribe. However, this does not impact my opinion. ============ Check us out on social fam!  Twitter Dollar After Dollar Instagram www.thepersonalfinancepodcast.com www.dollarafterdollar.com www.mastermoney.co Learn more about your ad choices. Visit megaphone.fm/adchoices

How to Money
Matt's $ Origin Story #461

How to Money

Play Episode Listen Later Jan 12, 2022 57:16


Oftentimes here on the podcast we talk about our daily lives. We'll share little ways that we're saving money, or you get to hear about our curb alert scores, and we might even talk a little too much about how much we're riding our bikes. So if you've been listening for a few years you might know a good bit about us- that happens after 460 episodes! But we've never done a deep-dive origin story on the show and what better time to do that than here at the beginning of the year. Especially as we're likely welcoming some new listeners to the fold. So during this episode you'll get to learn all about Matt's money origin story- how he was taught personal finance principles, his money struggles growing up, why he shouldn't have opened a Roth IRA, and how Downton Abbey helped Matt and his wife Kate discover financial independence. During this episode we enjoyed an Athena Paradiso Blackberry by Creature Comforts! And please help us to spread the word by letting friends and family know about How to Money! Hit the share button, subscribe if you're not already a regular listener, and give us a quick review in Apple Podcasts or wherever you get your podcasts. Help us to change the conversation around personal finance and get more people doing smart things with their money! Best friends out! Learn more about your ad-choices at https://www.iheartpodcastnetwork.com

Real Personal Finance
134 - How to Know If You're On Track to Retire

Real Personal Finance

Play Episode Listen Later Jan 12, 2022 24:53


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

Wealth Academy Podcast - Wealth Is More Than Just Money
173 Tax Moves To Consider When Filing Your 2021 Taxes

Wealth Academy Podcast - Wealth Is More Than Just Money

Play Episode Listen Later Jan 11, 2022 16:05


The Internal Revenue Service (IRS) begins accepting federal and state taxes on February 12, 2022. What this means is citizens of the U.S. should be gathering all of their financial documents in preparation for meeting the filing deadline which is April 15, 2022.Here are a few things to consider leading up to the tax deadline:U.S. citizens had until December 31, 2021, to make 401K contributions, however, they can make health savings account (HSA) contributions until April 15, 2022.Retirees must make 401K and IRA required minimum distributions (RMD) each year when they reach age 72.Convert money from a traditional IRA to a Roth IRA.Contribute to a 529 account that pays for their children's college expenses while saving them state taxes.When the end of the calendar year is coming to a close, don't invest in mutual funds, dividends from them will be taxable.Harvest your capital gains, if you own stocks and lose money on them, you can sell them and receive a deduction on your federal taxes.Pick up capital gains if you are in a low tax bracket.Harvest losses on cryptocurrency.Donate cash to a charity.Meet with a tax advisor or work with one associated with your online tax filing service.There are more tax tips to share, however, these ten will jumpstart the tax filing season for you. If you have questions and or comments, you can reach Paul Lawrence Vann at info@paulvannspeaks.comListen to all Wealth Academy Podcast episodes at https://bit.ly/3n84XSF

Let’s Talk Cheer
Jason explains what a team's "Raw Score" is, Varsity updates the scoresheet, and Jason explain how he would deal with a particular music problem

Let’s Talk Cheer

Play Episode Listen Later Jan 11, 2022 54:58


In this episode Jason Larkins explains what a team's "Raw Score" is and also talks about the upgrades Varsity made to the scoresheet. Brittany Moore tells Jason about another gym having music problems and wants to know how he would handle it.

CBS Eye on Money
Can We Buy a House?

CBS Eye on Money

Play Episode Listen Later Jan 11, 2022 24:59


In our 30s and prepping for a big move, are we okay to buy a house when we relocate? Have a money question? Email us, ask jill [at] jill on money dot com.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Heads Up Poker Podcast
35 - Andy Schectman - Gold, Silver, Platinum, and Palladium

Heads Up Poker Podcast

Play Episode Listen Later Jan 10, 2022 43:45


Watch this on YouTube! Andy joins us once again to provide insights into the current economic situation and why he believes that investments in precious metals are a as airtight as you can possible get in today's environment. Follow us on Social Media! Facebook: https://www.facebook.com/stevebartonmoney Twitter: https://twitter.com/stevebarton101 Instagram: https://www.instagram.com/steve_barton_money/ Contact Andy Schectman at Miles Franklin to order precious metals. Tell him you heard it on "In it to Win it" and Andy guarantees you the best price on silver and gold in the country. https://www.stevebartonmoney.com/contact-2 DISCLAIMER: I am not a financial adviser, do not take this as financial advice. I only express my opinion based on my experience and your experience may be different. These videos are for educational and motivational purposes only. Investing of any kind involves risk. This is just what I am doing. AFFILIATE DISCLOSURE: Some of the links on this channel are affiliate links, meaning, at NO additional cost to you, the show may earn a commission if you click through and make a purchase and/or subscribe. However, this does not impact our opinion. We recommend them because they are helpful and useful, not because we are looking for the small commission. economy forecast 2022, economy, money, investing, finance, poker, dividends, gold, silver, platinum, palladium, precious metals, crazy economic news, high energy costs, economy news, economy collapse, economy about to crash, trade deficit, debt, good debt, bad debt, economic bubble, doge coin, gas prices, stocks, global supply chains, the fed, Jerome Powell, forbearance ending, consumer sentiment, Elon Musk, Jeff Bezos, EV, cargo ship traffic, CPI, new stimulus checks, Bitcoin, Litecoin, Bitcoin Cash, Etherium, Walmart, evictions, Peter Schiff, inflation tax, stagflation, shrinkflation, deflation, disinflation, hyperinflation, retirement, millennial money, supply chain broken, supply chain issues, gas prices, banking playbook, moratorium, international monetary policy, remote workers, trade deficit, jobs numbers, credit lines, inflation pressure, Bank of England, banks closing, credit lines closing, U.K.'s consumer price index, stimulus, stimulus check, nightmare economy, prepping, MBS, mortgage backed security, Roth IRA, pension, housing collapse, housing market

Popcorn Finance
280: The Backdoor Roth, How Does it Work?

Popcorn Finance

Play Episode Listen Later Jan 10, 2022 9:45


Does even thinking about the tax code overwhelm you? In today's episode a listener wrote in to ask how they could contribute to a Roth IRA even though their tax status prevents them. I walk through the details of the little known backdoor Roth IRA and how it can be used to get that amazing tax savings.   Today's bag of popcorn is brough to you by H&R Block! Get 20% off your online tax filing by visit https://PopcornFinance.com/HRBlock   Have a Question? Send me a message at PopcornFinance.com/Voicemail or Call 707-200-8259   Connect with me Instagram - @PopcornFinancePodcast Twitter - @PopcornFinance Facebook - Popcorn Finance   Come Join Me on YouTube! https://www.youtube.com/c/PopcornFinance 

How to Money
Ask HTM - Investing 100% of Your Income, Pitfalls to Avoid when Switching Banks, & Self Employment Downsides #460

How to Money

Play Episode Listen Later Jan 10, 2022 52:05


We're kicking off the week by answering listener questions! And if you have a question that you'd like for us to answer on the show, we'd love for you to submit your own via HowToMoney.com/ask/ , send us your voice memo. Regardless of how random or bizarre you might think it is, we want to hear it! 1 - Is it a good idea, or is it even possible to invest 100% of my income in a Roth IRA? 2 - I'm finally dropping the big bank that I've been with- what should I keep in mind? 3 - Should I ladder my target date funds across multiple years or set it and forget it with a single fund? 4 - What benefits am I missing out on by taking the self employed path? 5 - Paying off my home mortgage or an investment property mortgage- which is the better move? During this episode we enjoyed a Really Green Street by Trillium Brewing - a big thanks to Ali for donating this delicious craft beer to the podcast! And please help us to spread the word by letting friends and family know about How to Money! Hit the share button, subscribe if you're not already a regular listener, and give us a quick review in Apple Podcasts or wherever you get your podcasts. Help us to change the conversation around personal finance and get more people doing smart things with their money! Best friends out! Learn more about your ad-choices at https://www.iheartpodcastnetwork.com

Millionaires Unveiled
220: Net Worth of 1.5M - Police Officer Maxing Roth IRA Since Age 18

Millionaires Unveiled

Play Episode Listen Later Jan 10, 2022 42:40


Mike is a police officer with a current net worth of 1.5M. In addition to his current assets, he also has a pending pension worth up to 60K in the next few years. Mike discusses his Roth IRA, his kids' Roth IRAs and how he funds them, as well as his 457 retirement accounts. We also discuss what drives him personally, his definition of happiness, and what he plans to do with his money upon retirement. 

Earn Your Leisure
Study Hall: HOW TO MAKE YOUR CHILD A MILLIONAIRE

Earn Your Leisure

Play Episode Listen Later Jan 7, 2022 8:52


In this Study Hall Rashad explains how to make your child a millionaire with a Roth IRA. #rothira #invest #childaccount  Link to Full Episode: https://youtu.be/OoiD3Cc30aE EYL University: https://www.eyluniversity.com Learn more about your ad-choices at https://www.iheartpodcastnetwork.com

CBS Eye on Money
Keep or Sell Rental Property?

CBS Eye on Money

Play Episode Listen Later Jan 6, 2022 14:45


The real estate market continues to be bonkers, causing many to wonder if they should be looking to sell. Have a money question? Email us, ask jill [at] jill on money dot com.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

MoneyWise on Oneplace.com
The Why of a Will

MoneyWise on Oneplace.com

Play Episode Listen Later Jan 5, 2022 24:57


To support this ministry financially, visit: https://www.oneplace.com/donate/1085/29 Nineteenth century author Ambrose Bierce once said, Death is not the end. There remains the litigation over the estate. Humor aside, dying without a will is a sure way to leave your loved ones a legal mess in the probate court and family feuding over who gets what. But you can spare them that difficulty. We'll explain today on MoneyWise. So let's get into the reasons why you need to draw up a written will if you haven't already, and along the way we can dispel some of the misconceptions about wills. Without a will, it will be up to probate courts to determine how your estate will be handled upon death. State law will determine who gets what, and that may be contrary to your wishes. PREPARING A WILL IS AN ACT OF LOVE TOWARD YOUR LOVED ONES Maybe the biggest reason that you need a will is that it will reduce the likelihood of family disputes after you're gone. In a will, you can leave specific instructions as to who gets what, potentially eliminating all the squabbling. It's true that your heirs could still have hard feelings even if inheritances are clearly spelled out, but a will isn't just a set of instructions. It's a document that can express not just your intentions, but your reasons behind them. Our friend Ron Blue spells this out clearly in his book,Splitting Heirs. Simply dividing up your assets equally might be fair, but it isn't necessarily biblical. Ron says, Wisdom can create wealth, but wealth almost never creates wisdom. One child may not be capable of handling money, or another might have much greater needs than your other heirs. So explaining why you're dividing things a certain way can also help eliminate family fighting. Ron also says that if you love your children equally, you'll treat them uniquely. There are other reasons to draw up a will. It's a great way to itemize your assets. Without a specific list of your holdings and possessions, the probate court could take months or years sifting through your financial records. Another good reason to draw up a will is that it can help you provide for heirs with special needs. If one of your heirs is too young or immature to manage money, you can place restrictions on the inheritance with a will. You can also do that with a living or revocable trust. A WILL ALLOWS YOU TO DECIDE WHO WILL CARE FOR YOUR CHILDREN There's one more really important reason for having a will, and this one's often a real sticking point for couples with children. A will enables you to name a guardian for your children. This is one of the reasons that some parents procrastinate in making out a will, because it forces them to decide who will care for the kids should something happen to them. That's not a pleasant thought and quite often, it's a tough decision to make. MISCONCEPTIONS ABOUT WILLS Turning now to some of the misconceptions about wills, the one you hear most often is, I don't need one. But we just talked about how a will allows you to name who'll care for your children if something happens to you. Without a will, the state decides who raises your kids as well as who gets all of your assets. Another misconception is that your spouse automatically gets everything you have, so you don't really need a will. That's the case most of the time, but different states have different rules. For example, your state may require that your assets be divided equally among your spouse, children or grandchildren, whether you wanted that or not. So you can't assume your spouse will inherit everything. You can avoid all that by having a will in place. Okay, our last myth is, drawing up a will is too expensive. The truth is, writing a will is one of the least costly things that attorneys do. Many of them charge a flat fee to write a will or other basic estate planning documents. The average cost for drawing up a will is around $500. Of course, you can do it even cheaper by filling in the blanks at one of those online legal form sites. That may work just fine, but an attorney can help you address issues that may not come up with the do it yourself approach. And of course, you can find an attorney or estate planner who shares your values when youlook for a Certified Kingdom Advisor at MoneyWise.org. LISTENER QUESTIONS On today's program, Rob also answers listener questions: ●What is the purpose of work (working for a living)? ●What is an ideal amount to have saved in a 401k at age 48? ●How can you move money from a 401k into a Roth IRA, and would that make sense? ●How do you determine what to do with your money after becoming debt free? ●What is the best way to learn the basics of budgeting and managing money? RESOURCES MENTIONED DURING THIS PROGRAM ●Find a Certified Kingdom Advisor ●Your Money Counts by Howard Dayton (book) ●MoneyWise App Remember, you can call in to ask your questions most days at (800) 525-7000 or email them toQuestions@MoneyWise.org. Also, visit our website atMoneyWise.orgwhere you can connect with a MoneyWise Coach, join the MoneyWise Community, and even download the free MoneyWise app. Like and Follow us on Facebook atMoneyWise Mediafor videos and the very latest discussion!Remember that it's your prayerful and financial support that keeps MoneyWise on the air. Help us continue this outreach by clicking theDonate tab on our websiteor in our app.

The Personal Finance Podcast
The 7 Factors of a Typical Millionaire (How you Can Become one too!)

The Personal Finance Podcast

Play Episode Listen Later Jan 5, 2022 37:04


88. The 7 Factors of a Typical Millionaire (How you Can Become one too!)  Check out The Millionaire Next Door and my other favorite Personal Finance books here: https://kit.co/MasterMoney/best-personal-finance-books  FREE GUIDES: ============== -Check out the free guide on where to put your money in what order!  https://www.mastermoney.co/stairway-to-wealth -Here is the free How to Ask for A Raise ebook! https://www.mastermoney.co/get-a-raise-ebook -Get Access to the 75 Day Challenge: https://www.mastermoney.co/75daychallenge  ============= We have a YOUTUBE channel! Check it out here!  Our Latest Videos:  5 Index Funds to Hold for Life!  What Would Happen If You Maxed Out Your Roth IRA By Age?! (These Results Will Amaze You!) How to Become a Millionaire With a Small Amount of Money (Is it Really This Easy!?) ============ Got questions? Ask me on Instagram Here. @mastermoneyco This is the fastest way to get in touch with me.  ============ Sponsors:  Thank you to Better Help for sponsoring the show! Check them out at betterhelp.com/pfp Thanks to Policygenius For Sponsoring the show! Check them out a Policygenius.com Thanks to Mint Mobile for supporting the show! Cut your phone bill to $15 a month by going to https://mintmobile.com/pfp Thanks to Ladder for Sponsoring the Show. Go to Ladderlife.com/pfp     ============   Want to Support the Show? Follow and review on Spotify or Follow and Leave a 5-Star Review on Apple Podcasts! ============ Today We Discuss:  How the rich save their money.  How millionaires teach their kids about money. Lessons taken from the millionaire next door.  How millionaires choose their careers.  ============ Episodes Mentioned More Episodes You Will Love:  The Stairway to Wealth 2.0 (The Order You Should Put Your Money in!) How to Track Your Net Worth How to Set Money Goals You Will Actually Achieve How to Read a Book Per Week (My Unbelievably Simple System!) ============ Check out all the Stuff I Recommend!  USEFUL RESOURCES: Best Place to Open a Roth IRA: https://m1finance.8bxp97.net/5vzD1 My Favorite Free Net Worth and Budget Tool: https://fxo.co/905L Best Online Bank: https://bit.ly/3ENRIDu Get a $10 Free Bonus with Acorns: https://bit.ly/3lV0LLE Best Bank and Debit Card for Kids: https://bit.ly/3pJeI09  Get $5 Free Bitcoin at Coinbase: https://bit.ly/3oIQOml Best Personal Finance Books: https://kit.co/MasterMoney/best-personal-finance-books  ============ DISCLAIMER: I am not a financial adviser. This Podcast is for educational purposes only. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. It is imperative that you conduct your own research. I am sharing my opinion.  AFFILIATE DISCLOSURE: Some of the links on this channel are affiliate links, meaning, at NO additional cost to you, I may earn a commission if you click through and make a purchase and/or subscribe. However, this does not impact my opinion. ============ Check us out on social fam!  Twitter Dollar After Dollar Instagram www.thepersonalfinancepodcast.com www.dollarafterdollar.com www.mastermoney.co Learn more about your ad choices. Visit megaphone.fm/adchoices

CBS Eye on Money
In Need of a Game Plan

CBS Eye on Money

Play Episode Listen Later Jan 4, 2022 21:39


If you think you've got a lot going on in your life, just give this call a listen and you might walk away feeling better about your situation. Have a money question? Email us, ask jill [at] jill on money dot com.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Money Guy Show
Lump Sum vs. Dollar Cost Averaging - Which is Better?

Money Guy Show

Play Episode Listen Later Jan 3, 2022 22:29


So you want to max out your Roth IRA or your 401(k) this year, but you're wondering - should you do it all at once or periodically throughout the year? We'll walk you through that question and more in today's Q&A episode! Subscribe on YouTube! Download FREE Financial Resources from the show Get our Net Worth Tool Now! Sign up for our Financial Order of Operations course Let's make sure you're on the path to financial success - then help you stay there! The Money Guy Show takes the edge off of personal finance. We're financial advisors that believe anyone can be wealthy! First, LEARN smart financial principles. Next, APPLY those principles! Then watch your finances GROW! Visit our site for more info. Instagram Twitter Facebook TikTok

DIY Money | Personal Finance, Budgeting, Debt, Savings, Investing

On this episode of DIY Money, Quint and Daniel discuss the key differences between a Traditional IRA vs a Roth IRA.

MoneyWise on Oneplace.com
Money Tips for the New Year

MoneyWise on Oneplace.com

Play Episode Listen Later Jan 3, 2022 24:57


To support this ministry financially, visit: https://www.oneplace.com/donate/1085/29 The holidays are over and it's time to make some changes to improve your finances in the coming year. And today on MoneyWise, we have a list of tips to get you started. MONEY TIPS FOR 2022 1. MAKE A SPENDING PLAN:First, take a good look at your budget and make any necessary changes for the coming year. You will need to account for rising inflation on everything from fuel to electronics to groceries. You may need to cut spending in other areas, like entertainment, to compensate for those cost increases. TheMoneyWise Appis a powerful budgeting tool with three different ways to choose from for budgeting your money. 2. SET UP AN EMERGENCY FUND:Another important step to improve your finances is to finally set up your emergency fund. Your emergency fund helps you stay out of debt when you're hit with the unexpected.Open a savings account at an online bank and have something out of every paycheck automatically transferred to it. Cut discretionary spending to give yourself margin. Set a goal to save $1500. Your next emergency fund goal is to save one month's living expenses. Then three months. Ideally, keep going until you have six months' expenses saved up. You may not get there this year, but don't worry about that. Just get started! 3. MAKE A GIVING PLAN:As you tweak your budget, one area you definitely don't want to cut back on is giving to your local church. Make a plan for how much you intend to give this year. Remember, the tithe is just the training wheels for giving. Prayerfully consider giving more than last year. 4. MAKE A WILL:Make this the year you finally draw up a will. Save your loved ones the unnecessary trauma of having the probate court decide how your estate is settled should something happen to you. This is critical if you have young dependents because a will gives you the opportunity to name a legal guardian. 5. PREPARE FOR RISING INTEREST RATES:With inflation back, the Federal Reserve is planning to raise interest rates soon. If you're unfortunate enough to have a variable rate mortgage, start planning for higher monthly payments. The same is true if you have a home equity line of credit. It also means that interest rates are likely to rise on consumer debt, like credit cards. If you have credit card debt, make a plan now to pay it off as soon as possible. 6. CONSIDER INCREASING RETIREMENT CONTRIBUTIONS:Next, consider bumping up your retirement contributions if you're not on track to reach your goals. Take advantage of any employer matching funds to your 401k. You can contribute up to $20,500 to your 401k in 2022. If you don't have a 401k at work, set up a Roth IRA. You can contribute up to $6,000 in 2022 or $7,000 if you're 50 or older. 7. GET READY FOR TAX SEASON:The last year saw major changes in work settings due to COVID. If you work from home, you may be eligible for more deductions. Working from home means you can deduct a portion of your home expenses if you meet the requirements. If you're used to doing your own taxes, with or without a computer program, particularly if you're working as a 1099 contractor, this might be one year to take your taxes to a professional because things get a lot more complicated. You don't want to miss any deductions. LISTENER QUESTIONS On today's program, Rob also answers listener questions: ●What should a widow do with her spouse's pension? ●How can you continue to save for emergencies when money is tight? ●Is there a way to unload an unwanted timeshare? ●When does it make sense to pull money out of an annuity? RESOURCES MENTIONED DURING THIS PROGRAM ●Find a Certified Kingdom Advisor ●MoneyWise App Remember, you can call in to ask your questions most days at (800) 525-7000 or email them toQuestions@MoneyWise.org. Also, visit our website atMoneyWise.orgwhere you can connect with a MoneyWise Coach, join the MoneyWise Community, and even download the free MoneyWise app. Like and Follow us on Facebook atMoneyWise Mediafor videos and the very latest discussion!Remember that it's your prayerful and financial support that keeps MoneyWise on the air. Help us continue this outreach by clicking theDonate tab on our websiteor in our app.

Habesha Finance Podcast
108. If I Started Investing in 2022, This is What I'd Do

Habesha Finance Podcast

Play Episode Listen Later Jan 3, 2022 13:27


Want to know the questions to consider before you get started investing? Here is exactly what I would do to get started with investing, after spending over 12 years as an investor. Check out my top 8 index funds you can invest in https://youtu.be/dDrQfSL4BNc Make sure to check out some of my other YouTube videos below: ⛔ Learn more about Fidelity, Vanguard and Schwab US Total Market Index Fund: https://youtu.be/jmXofyOr9zo How to Open a Vanguard IRA in LESS Than 5 Minutes! https://youtu.be/eq2KXRyEVuE What was the BEST Decision I Made With Investing? ➡️ https://youtu.be/tAJfqhdzYts  Watch this video to learn MORE about the Roth IRA

Heads Up Poker Podcast
34 - Steve's 3 tips for becoming a better investor

Heads Up Poker Podcast

Play Episode Listen Later Jan 3, 2022 13:25


Watch this on YouTube! In this short episode, Steve explains his approach to building a strong financial foundation that will allow you to become a better investor.  Pay off bad debt Have an emergency fund Take the risk! #gold #silver #uranium #investing Follow us on Social Media! Facebook: https://www.facebook.com/stevebartonmoney Twitter: https://twitter.com/stevebarton101 Instagram: https://www.instagram.com/steve_barton_money/ Contact Andy Schectman at Miles Franklin to order precious metals. Tell him you heard it on "In it to Win it" and Andy guarantees you the best price on silver and gold in the country. https://www.stevebartonmoney.com/contact-2 DISCLAIMER: I am not a financial adviser, do not take this as financial advice. I only express my opinion based on my experience and your experience may be different. These videos are for educational and motivational purposes only. Investing of any kind involves risk. This is just what I am doing. AFFILIATE DISCLOSURE: Some of the links on this channel are affiliate links, meaning, at NO additional cost to you, the show may earn a commission if you click through and make a purchase and/or subscribe. However, this does not impact our opinion. We recommend them because they are helpful and useful, not because we are looking for the small commission. economy forecast 2022, economy, money, investing, finance, poker, dividends, gold, silver, platinum, palladium, precious metals, crazy economic news, high energy costs, economy news, economy collapse, economy about to crash, trade deficit, debt, good debt, bad debt, economic bubble, doge coin, gas prices, stocks, global supply chains, the fed, Jerome Powell, forbearance ending, consumer sentiment, Elon Musk, Jeff Bezos, EV, cargo ship traffic, CPI, new stimulus checks, Bitcoin, Litecoin, Bitcoin Cash, Etherium, Walmart, evictions, Peter Schiff, inflation tax, stagflation, shrinkflation, deflation, disinflation, hyperinflation, retirement, millennial money, supply chain broken, supply chain issues, gas prices, banking playbook, moratorium, international monetary policy, remote workers, trade deficit, jobs numbers, credit lines, inflation pressure, Bank of England, banks closing, credit lines closing, U.K.'s consumer price index, stimulus, stimulus check, nightmare economy, prepping, MBS, mortgage backed security, Roth IRA, pension, housing collapse, housing market

NerdWallet's MoneyFix Podcast
Saving at the Pump, and 401(k) Limits

NerdWallet's MoneyFix Podcast

Play Episode Listen Later Jan 3, 2022 25:45


This episode, Sean and Liz share their tips for saving at the pump, including how the way you drive and when you get gas can make a difference. Then they answer a listener's money question about saving for retirement if your access to a 401(k) or Roth IRA is limited. This is an episode from our archives.  To send the Nerds your money questions, call or text the Nerd hotline at 901-730-6373 or email podcast@nerdwallet.com.

All It Takes Is A Goal
ATG 54: 10 micro goals for massive results

All It Takes Is A Goal

Play Episode Listen Later Jan 3, 2022 29:23


Are you working on a goal that has you feeling stuck? Or maybe it feels really overwhelming or frustrating? If you can relate, chances are, your goal is too big. That's why this episode is all about the power of a micro-goal, AKA a small goal that generates big results. It's sort of like having a Roth IRA. You invest small actions over time, and eventually, you've got massive dividends. Listen in to learn how to set a micro-goal that can slingshot you over the finish line of 2022.From This Episode:Follow Jon on GoodreadsNinja Selling by Larry Kendall The Goal by Eli Goldratt and Jeff Cox The Molecule of More Daniel Z. Lieberman and Michael E. LongThe Gift By Lewis Hyde  Grab a 2022 Finish Calendar!Check out the Finish CourseYou can get more info on the Soundtracks CourseFollow Jon on Instagram, Twitter, YouTube, and Facebook.Order Soundtracks, Jon's newest book available wherever you find quality books!

MoneyWise on Oneplace.com
Hazardous to Your Wealth

MoneyWise on Oneplace.com

Play Episode Listen Later Jan 1, 2022 24:57


To support this ministry financially, visit: https://www.oneplace.com/donate/1085/29 Sometimes we make conscious mistakes with our money.Other times, they're the result of just not paying attention. Either way, they can be hazardous to your wealth. Today on MoneyWise, Rob West helps us learn from poor financial decisions of the past: our own, and those of others.Our goal is to avoid making these mistakes in the future.Here are a few of the mistakes covered on the program: 1.Living paycheck to paycheck, or spending all or most of what you earn. Rob recommends putting something aside each month in a savings account where you don't see it and don't spend it. Then adjust your spending so that you meet all of your monthly obligations. You'll probably have to cut out some things that you've grown accustomed to. And almost everyone can cut something from their spending. 2.Not having an emergency fund. If you've addressed Item 1, you're on your way to correcting item 2 as well. Keep saving until you have at least 3 months living expenses set aside.Your ultimate goal would be having 6 months' worth in reserve. 3.Paying interest on consumer debt like credit cards. Many people pay for emergencies with their credit cards and this is where the trouble begins. You eliminate this mistake by correcting mistakes 1 and 2. 4.Making only the minimum monthly payment on debt you already have. Don't be surprised if it takes 15 years or longer to pay it off that way. And that's if you stop adding to the debt. 5.Not understanding how much things really cost. If you go out to dinner, put $30 on your credit card, and make only the minimum monthly payment, that meal will end up costing you 50 or 60 dollars. 6.Buying a new car. You should only buy a new car if you've saved up enough to pay cash for it, and paying cash for your cars should be the goal whether you buy new or used. You can only do that if, after you've paid off a car loan, you keep driving that car but continue to make payments to yourself into a savings account. You then use that money to buy your next car when you need it. If you can keep the old car running long enough and continue making payments to yourself, eventually you'll have enough to buy a car outright. It may take a few cycles of car purchases to get there but, eventually, you'll make it. So buy dependable, late modelusedcars until you can pay cash for a new one. 7.Not setting up a Roth IRA when you're young. Once you have your emergency fund in place, start putting money into a Roth.You can do this even if you're contributing to a 401k at work. You can contribute $6,000 a year into a Roth with after-tax money or $7,000 if you're 50 or older. When you retire, you can withdraw that Roth money tax free. 8.Buying too much house. Too often we think of a house as an investment that always pays off.It's not, and when folks look only at how much a home has appreciated, they fail to take into account what they've spent on upkeep, maintenance and repairs. The larger the house, the more those things cost. Keep your mortgage payments at or below 25% of your take home pay and you'll not only have an easier time staying on budget, you won't be paying more than you can afford for upkeep. LISTENER QUESTIONS Next on today's program, Rob also answers listener questions: ●Is it beneficial for my husband to keep working to full retirement age? We still have a mortgage and I'm on disability. ●My department closed at my old employer and I'm transitioning into a new job.Should I leave my retirement savings in the 403b at my previous employer, or roll it into something else? ●I received notice from the investment company that handles my Roth IRA saying that they are closing out the current fund and I will no longer be able to contribute to it at the end of the year.Can I move it over to a new Roth IRA?And if so, how do I choose one?(Rob recommended theSound Mind Investingnewsletter, which reviews mutual funds and tracks their performance over time.) ●I've moved from full-time to part-time employment at one employer, and just started a full-time job at a second company.I'm not yet eligible for the new company's 401k and will no longer receive company matching from my first company due to my new part-time status.Should I keep contributing?Or should I put my money elsewhere?(Rob recommended that the callerfind a Certified Kingdom Advisorin her area to help her review the options in person.You can do that on the MoneyWise.org website.) ●My tax preparer says that I have to make a minimum charitable contribution in order to get any tax benefit?Is that true?Or should I fire my sister and find another tax preparer?:-) Remember, you can call in to ask your questions most days at (800) 525-7000 or email them toQuestions@MoneyWise.org. Also, visit our website atMoneyWise.orgwhere you can connect with a MoneyWise Coach, join the MoneyWise Community, and even download the free MoneyWise app. Like and Follow us on Facebook atMoneyWise Mediafor videos and the very latest discussion!Remember that it's your prayerful and financial support that keeps MoneyWise on the air. Help us continue this outreach by clicking theDonate tab on our website.

Wealthy Wellthy Wise
Exclusive Client Coaching Call w/Krisstina: My Definition of an Asset is Something That Creates Cash Flow at Some Point in Time

Wealthy Wellthy Wise

Play Episode Listen Later Dec 31, 2021 54:02


​​This week, my special guest is one of my students! I thrive off of sharing these conversations with you... My client and I go over the various ways of creating and keeping wealth. I call it the “storage tank”... and they go as followed: Storage Tank: Whole Life Insurance  Put your money in the market (index fund, stock market, etc.) Crypto (only if you can handle it! It's a long term play— super volatile) Real estate properties (it pays you every single month IF you buy well) The whole game of money is called Cash Flow! And money knowledge is not common sense because it is not taught in school. This is where my money school -  CURBS - comes into play. It is a way to create a cash flow management system by making conscious, deliberate choices with your money.  Krisstina's Advice: Play Cash Flow by Robert Kiyosaki. How you build wealth is all through cash flow —> always keep your money moving! Keep its momentum.  Get over your fear of losing money. The long game is the wealth game. The more wealthy you get, the more protection you need! Have a 3-6 month emergency fund.   “My definition of an asset is something that creates cash flow at some point in time.” - Krisstina Wise  Client Questions: “What is a good number to aim for?” “I have a Roth IRA, am I better off with taking that small amount and putting it towards Whole Life Insurance or investing in a business?”

Talking Real Money
6.9.17 – Hiring a Robot

Talking Real Money

Play Episode Listen Later Dec 31, 2021 23:15


FROM OUR AUDIO ARCHIVESPlease do not call the phone number in podcast. Use 855-935-8255 instead.Also, the ads and other information may not be accurate at the time you listen.When should an investor use a robot-advisor as opposed to hiring a human.Is it better to fund your 401k or your IRA?There is no ONE right way to invest for everyone. How much risk you need and can tolerate is the key to proper asset allocation.Why everyone should have a ROTH IRA

CBS Eye on Money
Should We Tap Our HSA or Let It Grow?

CBS Eye on Money

Play Episode Listen Later Dec 30, 2021 13:48


With some medical expenses on the horizon, should we tap into the HSA or try to cash flow it? Have a money question? Email us, ask jill [at] jill on money dot com.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The Personal Finance Podcast
The Ultimate Year End Money Checklist!

The Personal Finance Podcast

Play Episode Listen Later Dec 29, 2021 26:02


87. The Ultimate Year-End Money Checklist!   Get Access to the checklist!:https://www.mastermoney.co/yearendchecklist Free Net Worth and Budget Tool Personal Capital: https://fxo.co/905L FREE GUIDES: ============== Check out the free guide on where to put your money in what order!  https://www.mastermoney.co/stairway-to-wealth Here is the free How to Ask for A Raise ebook! https://www.mastermoney.co/get-a-raise-ebook ============= We have a YOUTUBE channel! Check it out here!  Our Latest Videos:  5 Index Funds to Hold for Life!  What Would Happen If You Maxed Out Your Roth IRA By Age?! (These Results Will Amaze You!) How to Become a Millionaire With a Small Amount of Money (Is it Really This Easy!?) ============ Got questions? Ask me on Instagram Here. @mastermoneyco This is the fastest way to get in touch with me.  ============ Sponsors:  Thank you to Better Help for sponsoring the show! Check them out at betterhelp.com/pfp Thanks to ButcherBox For Sponsoring the show! Right now new members get a free turkey with their first box when you head to butcherbox.com/pfp. Thanks to OurCrowd for sponsoring the show! Invest in Venture Capital at OurCrowd.com/PFP Thanks to Masterworks for Sponsoring the show! Invest in art at masterworks.io/pfp Thanks to Boll and Branch for Sponsoring the show! Get the best sheets in the world at bollandbranch.com and use promo code PFP.  Thanks to Public for sponsoring the show. Visit public.com/PERSONALFINANCE to download the app and sign up using code PERSONALFINANCE.   ============   Want to Support the Show? Follow on Spotify or Follow and Leave a 5-Star Review on Apple Podcasts! ============ Today We Discuss:  The ultimate checklist to get your money in order next year.  How to save on taxes by year end.  The checklist you can use every year!  ============ Episodes Mentioned More Episodes You Will Love:  The Stairway to Wealth 2.0 (The Order You Should Put Your Money in!) How to Track Your Net Worth How to Set Money Goals You Will Actually Achieve How to Read a Book Per Week (My Unbelievably Simple System!) ============ Check out all the Stuff I Recommend!  USEFUL RESOURCES: Best Place to Open a Roth IRA: https://m1finance.8bxp97.net/5vzD1 My Favorite Free Net Worth and Budget Tool: https://fxo.co/905L Best Online Bank: https://bit.ly/3ENRIDu Get a $10 Free Bonus with Acorns: https://bit.ly/3lV0LLE Best Bank and Debit Card for Kids: https://bit.ly/3pJeI09  Get $5 Free Bitcoin at Coinbase: https://bit.ly/3oIQOml Best Personal Finance Books: https://kit.co/MasterMoney/best-personal-finance-books  ============ DISCLAIMER: I am not a financial adviser. This Podcast is for educational purposes only. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. It is imperative that you conduct your own research. I am sharing my opinion.  AFFILIATE DISCLOSURE: Some of the links on this channel are affiliate links, meaning, at NO additional cost to you, I may earn a commission if you click through and make a purchase and/or subscribe. However, this does not impact my opinion. ============ Check us out on social fam!  Twitter Dollar After Dollar Instagram www.thepersonalfinancepodcast.com www.dollarafterdollar.com www.mastermoney.co Learn more about your ad choices. Visit megaphone.fm/adchoices

Let’s Talk Cheer
Jason & Brittany talk about if Varsity should change the scoresheet this season

Let’s Talk Cheer

Play Episode Listen Later Dec 29, 2021 53:21


In this episode Jason Larkins and Brittany Moore talk about if Varsity should switch the scoresheet in the middle of the season, Jason also brings up a scenario if an athlete is on the same level for multiple years, how they should deal with it, and the question of the week is about how coaches determine where athletes go in the routine.

CBS Eye on Money
Are We Saving Too Much in Retirement Accounts?

CBS Eye on Money

Play Episode Listen Later Dec 28, 2021 15:06


At what point should we be concerned about saving too much money in our tax-deferred retirement plans?Have a money question? Email us, ask jill [at] jill on money dot com.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The Clark Howard Podcast
12.23.21 Teachable Moments: Teens & Money / Know Your Worth in the Marketplace.

The Clark Howard Podcast

Play Episode Listen Later Dec 23, 2021 32:44


Teenagers are a hot market for fintechs like Square, now opening Cash App to teens. Clark shares ideas for teaching teens about money & payment apps. // Most of us aren't great at advocating for ourselves and negotiating pay - a vital skill. It's important to know what your job is worth and your power as an employee. Tips to help you master the art of negotiation. Ask Clark topics include: New FAFSA Removes Roadblocks for Grandparent 529 Plans / Estate Planning: Living Trusts vs. Simple Wills - Investopedia / How To Open a Roth IRA / How much life insurance do you need? - Life Insurance / Refinance Your Mortgage Want more money advice? Sign up for Clark's free daily newsletter! Free Advice: Clark's Consumer Action Center Learn more about your ad choices. Visit megaphone.fm/adchoices