Hack Your Wealth

#95: The biggest concern many would-be retirees have, at least in the US, is the cost of healthcare. Not only is healthcare more expensive in the US than in every other industrialized country. There’s also no national health insurance system to control costs or standardize care quality…unless you’re a senior or very poor (or both). In fact, were it not for worries about healthcare, there would undoubtedly be way more US retirees out there today. The average retirement age would drop noticeably. Because no less than your retirement security is at stake, healthcare financial planning is retirement planning. That’s why I invited Bo Bowen to the podcast today to share his unique perspective on healthcare financial planning in retirement. Bo is both a healthcare practitioner (pharmacist) and a certified financial advisor who has specialized in advising on healthcare financial planning and retirement health insurance. His dual background gives him unique insight into the way healthcare financial planning is crucial for retirement security. We discuss: Check it out here: https://hackyourwealth.com/health-insurance-retirement-planning If you’ve already retired, what do you do for health insurance? Knowing what you know now, what (if anything) would you do differently in terms of healthcare planning in the years before retiring? If you have NOT retired yet, how big of a factor is healthcare and health insurance to your decision of when to retire? Let me know by leaving a comment. Don't miss an episode, hit that subscribe button... If you liked this episode, be sure to subscribe so you don’t miss any upcoming episodes! Apple PodcastsOvercastSpotifyStitcherI need your help, please leave a listener review :) If you liked this episode, would you please leave a quick review on Apple Podcasts? It’d mean the world to me and your review also helps others find my podcast, too! Related links: https://www.healthinsurance.orghttps://www.healthcarebluebook.comhttps://www.medibid.comhttps://www.linkedin.com/in/bo-bowen-1b64341a6Schedule a private 1:1 consultation with meHYW private Facebook communityIntro/Outro: Old Bossa by Twin Musicom.

#94: Real estate investing changed a lot the last couple years, but one asset class consistently punched above its weight: short-term rentals, a.k.a., STRs, e.g., Airbnbs. In 2020, when people couldn’t go on vacation by hopping on a plane to Europe, South America, or Asia, they got in their cars and drove to national parks and mountain / beach / lake towns. Short-term rentals, often seen as safer than hotels, were on 🔥. In 2021, this trend exploded. 🔥🔥 In 2022, when flying became a thing again, so did “revenge travel.” STRs accelerated even more. 🔥🔥🔥 With average daily rates skyrocketing the last couple years, hordes of real estate investors snapped up homes to turn them into Airbnbs, trying to chase yield. Now the market is super saturated, with daily rates even contracting in places, and there’s tons of new short-term rental inventory (over half of Airbnb listings added since 2020). So how can you stand out as an STR real estate investor in the current climate? In this episode, I interview Diya Liu, a seasoned short-term rental investor who scaled from zero to 9 STRs in one year, netting $100k annual profit, and then quit her BigLaw job to do short-term rental real estate investing full-time. She currently owns three hotels and a dozen STRs. We discuss: ​Check it out here: ​https://hackyourwealth.com/short-term-rental-hotel-investing​ ​Are you an STR investor? If so, how have bookings changed in the last 1-2 years? Do you see over-saturation in listings inventory in your area? Are you trying out any different strategies this year? Let me know by leaving a comment. Don't miss an episode, hit that subscribe button... If you liked this episode, be sure to subscribe so you don’t miss any upcoming episodes! Apple PodcastsOvercastSpotifyStitcherI need your help, please leave a listener review :) If you liked this episode, would you please leave a quick review on Apple Podcasts? It’d mean the world to me and your review also helps others find my podcast, too! Related links: https://www.instagram.com/diyaesqhttps://www.facebook.com/groups/AirbnbProfessionalSchedule a private 1:1 consultation with meHYW private Facebook communityIntro/Outro: Old Bossa by Twin Musicom.

#93: Early retirees often fill their early years in retirement with lots of travel. There is even a vibrant community of nomadic early retirees who travel long-term. But what do you do about health insurance, especially if you’re American? Unlike in most other industrialized countries that have universal health insurance, American health insurance is generally tied to your employer, at least before you’re old enough to qualify for Medicare. That means if you don’t have a job, you generally don’t have health insurance. For early retirees, that’s a problem. What are the health insurance options for early retirees, especially those who plan to travel significantly in retirement? This week, I chat about early retirement health insurance options with Tracy Winters, Director of Individual Insurance at Good Neighbor Insurance, an Arizona-based health insurance brokerage that specializes in health insurance consulting for long-term travelers, expats, and traveling early retirees. We discuss: Check it out here: https://hackyourwealth.com/health-insurance-retirement-travel If you’re early retired, what do you do for health insurance? How do you handle health insurance when traveling as an early retiree? If you’re planning to early retire in the future, how important is health insurance coverage to your decision of timing when to early retiree? Let me know by leaving a comment. Don't miss an episode, hit that subscribe button... If you liked this episode, be sure to subscribe so you don’t miss any upcoming episodes! Apple PodcastsOvercastSpotifyStitcherI need your help, please leave a listener review :) If you liked this episode, would you please leave a quick review on Apple Podcasts? It’d mean the world to me and your review also helps others find my podcast, too! Related links: About Tracy WintersSchedule a private 1:1 consultation with meHYW private Facebook communityIntro/Outro: Old Bossa by Twin Musicom.

#92: Most FIRE stories are of men. A lot seem to be of ex-software engineers (on blogs anyway). It’s rare to see profiles of early retired women, especially single women who retired early from ambitious careers. Also, most FIRE stories focus on strategies for things like accumulating enough assets to FIRE. Investment selection. Portfolio allocation. Safe withdrawal rates. Sequence risk. These are important topics for sure. I’ve covered many of them on HYW. But they are also very much about the mechanics. It’s rare to hear how early retirees grapple with stuff like: loss of professional identity, building a new non-career identity, finding purpose, fulfillment, and community as an early retiree; or dating and companionship in early retirement. This week, I chat with Kim (last name withheld at her request) about her journey from MBA to corporate career to early retirement at 39 and her life and identity now 5 years post-FIRE. We discuss some of these rarely mentioned topics, as well as what it’s been like so far in early retirement as a single woman. We talk about: Check it out here: https://hackyourwealth.com/retire-early-women-business-career-professional Know any other interesting unmarried women who are pursuing or achieved FIRE? I’d be interested in potentially interviewing them for the podcast. Let me know by leaving a comment. Don't miss an episode, hit that subscribe button... If you liked this episode, be sure to subscribe so you don’t miss any upcoming episodes! Apple PodcastsOvercastSpotifyStitcherI need your help, please leave a listener review :) If you liked this episode, would you please leave a quick review on Apple Podcasts? It’d mean the world to me and your review also helps others find my podcast, too! Related links: Schedule a private 1:1 consultation with meHYW private Facebook communityIntro/Outro: Old Bossa by Twin Musicom.

#91: It’s no secret that many healthcare professionals earn lots of money. So, you might think it’s relatively easy for them to achieve financial independence and retire early (or at least step back from demanding clinical hours). Aaaand….you’d be right about that! Sure, earning healthcare money is not a requirement for FIRE. But if you do, you certainly have more options…even if you also have large expenses (like kids). This week, I talk with Dr. G (anonymized, his request), a dentist with two kids in the midwest who built a $7 million nest egg before stepping back from clinical practice. He explains the actions he took to build his wealth…and what he’s doing now. We discuss: Check it out here: https://hackyourwealth.com/dentist-financial-independence-retire-early What type of FIRE profiles (career path, earning level, family/kid status, etc) do you want to hear more about? Let me know by leaving a comment. Don't miss an episode, hit that subscribe button... If you liked this episode, be sure to subscribe so you don’t miss any upcoming episodes! Apple PodcastsOvercastSpotifyStitcherI need your help, please leave a listener review :) If you liked this episode, would you please leave a quick review on Apple Podcasts? It’d mean the world to me and your review also helps others find my podcast, too! Related links: Schedule a private 1:1 consultation with meHYW private Facebook communityIntro/Outro: Old Bossa by Twin Musicom.

#90: It’s back to school season, and that means it’s also the time of year for high school seniors to start agonizing over college applications. Applying to college is an anxiety-filled rite of passage for high school seniors, but it’s often just as anxiety-inducing for parents who bang their heads on how to pay for it. That’s because paying for college is, for many families, the biggest single expense they’ll have for their child. It’s also often the second biggest life expense a family will incur, right behind buying a home. Paying for college is like buying a Tesla Model Y and giving it away. Every year, for four years. So this week, I chat with my friend Ann Garcia about how to pay for college. She just wrote a new book on this topic, which we discuss in detail, along with important new updates to the federal financial aid process (FAFSA) + key things to know about 529 plan rules. We discuss: Check it out here: https://hackyourwealth.com/how-to-pay-for-college Have you been through (or will soon go through) the college financial aid process? What’s been the most confusing or frustrating aspect? Let me know by leaving a comment. Don't miss an episode, hit that subscribe button... If you liked this episode, be sure to subscribe so you don’t miss any upcoming episodes! Apple PodcastsSpotifyI need your help, please leave a listener review :) If you liked this episode, would you please leave a quick review on Apple Podcasts? It’d mean the world to me and your review also helps others find my podcast, too! Related links: How to Pay for College: A complete financial plan for funding your child's educationThe College Financial Plan MasterclassHYW20TheCollegeFinancialLady.com529 college savings plans: rules, tax benefits, & qualified expenses (HYW026)College financial aid tips and strategies, with Ann Garcia (HYW053)College student financial aid changes coming to the FAFSA application (HYW079)Schedule a private 1:1 consult with meHYW private FB communityIntro/Outro: Old Bossa by Twin Mus

#89: Summer is fast approaching, and that’s traditionally when home-buying season ramps up. This week, I share insights on how to conduct due diligence when you’re looking to buy a home. Whether you’re buying a primary residence or investing in rental real estate, rigorous due diligence is critical to ensuring you get a good property at a reasonable price. In this episode, I explain my entire process for thoroughly analyzing a property before writing an offer. You learn: Check it out here: https://hackyourwealth.com/real-estate-due-diligence If you’ve bought a home before, what are the most important due diligence items you look for? Let me know by leaving a comment. Don't miss an episode, hit that subscribe button... If you liked this episode, be sure to subscribe so you don’t miss any upcoming episodes! Apple PodcastsOvercastSpotifyStitcherI need your help, please leave a listener review :) If you liked this episode, would you please leave a quick review on Apple Podcasts? It’d mean the world to me and your review also helps others find my podcast, too! Related links: Battle-tested home remodeling tips for saving serious money and getting the most from your contractorsHow to find and vet good home remodeling contractors like a bossHow to write an offer to purchase a house (that stands out and wins)How to do a residential property inspection step by step: What smart real estate investors look forHow to research real estate markets: The single best resource you needAvoiding capital gains tax on real estate: how the home sale exclusion worksThe True Benefit of Homeownership (why buying has paid off over renting, even in a million dollar market)Schedule a private 1:1 consultation with meHYW private Facebook communityIntro/Outro: Old Bossa by Twin Musicom.

#88: Have you maxed out your backdoor + mega backdoor Roth conversions yet? For high earners, direct contributions to a Roth IRA, and tax-deductible contributions to a traditional IRA, are limited by income thresholds. But ALL taxpayers – even high earners – can still invest money into a Roth via backdoor Roth conversion. And if your employer’s 401k has the right plan features, you can turbo-charge your Roth conversions another 7x by doing the “mega backdoor” Roth conversion. What the heck do these mean? And how exactly do you do them? This week, I share what these concepts are, tips for how to execute them successfully, and what you need to know about your employer 401k to turbo-charge your Roth conversions. I explain: Check it out here: https://hackyourwealth.com/mega-backdoor-roth Have you done a backdoor or mega backdoor Roth conversion before? If you’ve decided not to, what dissuaded you? Let me know by leaving a comment. Don't miss an episode, hit that subscribe button... If you liked this episode, be sure to subscribe so you don’t miss any upcoming episodes! Apple PodcastsOvercastSpotifyStitcherI need your help, please leave a listener review :) If you liked this episode, would you please leave a quick review on Apple Podcasts? It’d mean the world to me and your review also helps others find my podcast, too! Related links: Traditional vs. Roth? How to double-dip on the tax benefits of BOTHWhat is a Solo 401k? And Why It Beats All Other Retirement AccountsEverything you need to know about 401Ks (HYW003)IRAs, Roth IRAs, and how to get the tax benefits of BOTH (HYW004)Schedule a private 1:1 consultation with meHYW private Facebook communityIntro/Outro: Old Bossa by Twin Musicom.

#87: Remote work and digital nomadism have always been of particular interest to folks in the FIRE community. After the pandemic, remote work was suddenly thrust upon the entire knowledge workforce. And after two long pandemic years, the possibility that remote work for many professions will persist and become long-term viable options is tantalizingly close. What is the state of remote work right now? Where is the future of remote work headed? What jobs are most in-demand for remote work, and how much can you get paid for them? This week, I deep dive on these questions with Sharon Koifman, founder of DistantJob, a remote-only recruiting agency that helps companies find full-time remote employees around the world. We discuss: Check it out here: https://hackyourwealth.com/future-of-remote-work And now, I’m super curious…. Are you a remote worker or digital nomad? Trying to be? Wish to be? If so, what type of work do you do? If you work remotely for a company, was your compensation adjusted when you switched to remote? What’s the biggest benefit vs. challenge you have experienced as a remote worker? How do you build (and keep) strong connections to people in your company/organization? Does being able to be remote change your FIRE plans, timeline, or philosophy at all? Let me know by leaving a comment! Don't miss an episode, hit that subscribe button... If you liked this episode, be sure to subscribe so you don’t miss any upcoming episodes! Apple PodcastsOvercastSpotifyStitcherI need your help, please leave a listener review :) If you liked this episode, would you please leave a quick review on Apple Podcasts? It’d mean the world to me and your review also helps others find my podcast, too! Related links: DistantJobSurviving Remote Work: How to Thrive as a Leader and Entrepreneur in the Remote AgeSchedule a private 1:1 consultation with meHYW private Facebook communityIntro/Outro: Old Bossa by Twin Musicom.

#86: Pretty much everyone in the FIRE community has heard of the 4% rule. It is the starting safe withdrawal rate number for a 30-year retirement horizon that was proposed a few decades ago by retirement researchers. And it has attained near pop culture status in the FIRE community because it’s such a simple mental shortcut to answer the question: “how much can I safely withdraw from my portfolio each year in retirement and have high confidence that I’ll be financially secure for the rest of my life?” This is easily the most important question for ANY retiree, and especially early retirees. So, it’s no wonder this topic is so intensely discussed in the FIRE community. More than a few early retirees and FIRE bloggers swear by the 4% rule and have plunged into their own retirement using this withdrawal rate expecting that it will carry them through for the rest of their lives. But when you ask the quants – the economists with the PhDs – there is broad agreement that the 4% rule no longer works most of the time. But why not? This week, I invited the renowned retirement economist Wade Pfau, PhD/CFA, who is Co-Director of the American College Center for Retirement Income, to share insight on why the 4% rule no longer works in today’s environment. He suggests an alternate safe withdrawal rate number that may be better suited for today’s retirees. We discuss: Check it out here: https://hackyourwealth.com/4-percent-rule What do you think your safe withdrawal rate number is? And what asset allocation do you assume for that? Let me know by leaving a comment. Don't miss an episode, hit that subscribe button... If you liked this episode, subscribe so you don’t miss any upcoming episodes! Apple PodcastsOvercastI need your help, please leave a listener review :) If you liked this episode, would you leave a quick review on Apple Podcasts? It’d mean the world to me and your review also helps others find my podcast, too! Links mentioned in this episode: Wade PfauRetirement Planning GuidebookSafety-First Retirement Planning: An Integrated Approach for a Worry-Free RetirementHow Much Can I Spend in Retirement?Reverse Mortgages: How to Use Reverse Mortgages to Secure Your RetirementSchedule a 1:1 consultation with meHYW private Facebook community Intro/Outro: Old Bossa by Twin Musicom.

#85: Recently I’ve really started to notice the impact of inflation on daily spending. Have you? At first, it was just 1-2 things. Then it was a handful. Now it seems like everything is noticeably more expensive. (Assuming it’s even in stock in the first place.) Gas. Groceries. Takeout. Toiletries. Utilities. Car maintenance. Healthcare/supplies. Pre-school. Appliances. Everything seems to cost more and you just can’t buy as much with the same budget anymore. This got me wondering about how recent macroeconomic changes over the last 6 months might impact retirement safe withdrawal rates and asset allocations. The macro changes I’m referring to are: Inflation at a 40-year high. Stock valuations doubling since their pandemic lows. Interest rates that are scheduled to increase a minimum of 3 times this year. In these times, what should investors and retirees be doing to defend their portfolio values and retirement security? This week, I asked my friend Karsten Jeske (aka “Big ERN”) to help us make sense of all that is going on right now in terms of macro trends…and what it all means for safe withdrawal rates and asset allocation. We had a wide-ranging, nearly 2-hour(!) discussion full of insights and tips that you won’t want to miss. We discuss: Do you plan to make changes to your asset allocation or safe withdrawal rate in light of recent macroeconomic changes? Let me know by leaving a comment! Don't miss an episode, hit that subscribe button... If you liked this episode, subscribe so you don’t miss any upcoming episodes! Apple PodcastsOvercastSpotifyI need your help, please leave a listener review :) If you liked this episode, would you leave a quick review on Apple Podcasts? It’d mean the world to me and your review also helps others find my podcast, too! Links mentioned in this episode: Safe Withdrawal Rate SeriesGoogle Sheet DIY Withdrawal Rate Toolboxpost on Preferred StocksThe shockingly un-simple math behind safe withdrawal rates (HYW035)How to use a bond tent to reduce sequence of returns risk (HYW068)Does the “yield shield” protect against sequence risk? (HYW069)Is rental real estate a safer type of “yield shield”? (HYW070)Schedule a 1:1 consult with meHYW Facebook community Intro/Outro: Old Bossa by Twin Musicom.

#84: Today's episode is about an important end-of-year planning topic: asset allocation and portfolio rebalancing. Many otherwise smart investors set their portfolio once, but then fail to rigorously monitor their asset allocation and rebalance regularly. Whether due to inertia or hassle, this inaction is costly. It results in lower returns and greater risk as your asset allocation drifts…bad for wealth-building. How do you set your target asset allocation optimally and rigorously? And how do you rebalance tax-efficiently? This week, I show you how to set your target asset allocation to match your risk profile and investment goals. I share how to track your asset allocation to see how much it has drifted from your target allocation. And I explain step-by-step how to tax-efficiently rebalance. If asset allocation and rebalancing feel like a mystery or chore, then don’t miss today’s episode. I’ll show you how to do it systematically, efficiently, and rigorously…all in 1 hour or less per year. What you’ll learn: Check it out here: https://hackyourwealth.com/asset-allocation-rebalance-portfolio-replay How often do you rebalance your portfolio? Let me know by leaving a comment! Don't miss an episode, hit that subscribe button... If you liked this episode, be sure to subscribe so you don’t miss any upcoming episodes! Apple PodcastsOvercastSpotifyStitcherI need your help, please leave a listener review :) If you liked this episode, would you please leave a quick review on Apple Podcasts? It’d mean the world to me and your review also helps others find my podcast, too! Links mentioned in this episode: Download my FREE spreadsheet to track your current vs. target asset allocationMy 4×4 FIRE framework for creating and protecting wealth (HYW002)Schedule a private 1:1 consultation with meHYW private Facebook community Intro/Outro: Old Bossa by Twin Musicom.

#83: You’ve worked hard all your life. At retirement, it’s time to kick back and relax, right? Not so fast. You still have to get THROUGH retirement. That means knowing how to draw down your portfolio to: This is very challenging because you have to forecast things you simply can’t know with certainty. Inflation rates. Market returns. Sequence risk. Tax rates. Your health condition and anticipated healthcare needs. So, how can retirees plan their retirement portfolio withdrawals to actually enjoy retirement and not worry about running out of money? This week, I sit down with Steve Parrish, Co-Director of the Center for Retirement Income at The American College of Financial Services, to talk about tax-efficient portfolio withdrawal strategies in retirement. We discuss: Check it out here: https://hackyourwealth.com/retirement-withdrawal-strategies Do you worry about running out of money in retirement? If so, what is the biggest reason why – not saving enough, spending too fast, market tanks during retirement, something else? Let me know by leaving a comment. Don't miss an episode, hit that subscribe button... If you liked this episode, be sure to subscribe so you don’t miss any upcoming episodes! Apple PodcastsOvercastSpotifyI need your help, please leave a listener review :) If you liked this episode, would you leave a quick review on Apple Podcasts? It’d mean the world to me and your review helps others find my podcast, too! Links mentioned in this episode: Steve ParrishThe shockingly un-simple math behind safe withdrawal rates (HYW035)How to FIRE with confidence, step by step (HYW060)How to use a bond tent to reduce sequence risk (HYW068)How long will your retirement savings last?Schedule a private 1:1 consultationHYW Facebook community Intro/Outro: Old Bossa by Twin Musicom.

#82: Are annuities a good investment for retirement? With $250 billion in sales each year, and $2.5 trillion in retirement annuity assets under contract, annuities comprise a huge slice of US retirement assets. Understanding annuities – whether annuities are right for you, and how annuities fit into your retirement strategy – can get complicated given all the annuity options out there and the extreme uncertainty in today’s markets. So this week, I sat down with Stan Haithcock, aka “Stan The Annuity Man,” to deep dive on annuities. We chat about how annuities work, why annuities are not investments (in the portfolio sense), and why there is no such thing as “best annuities.” We discuss: Check it out here: https://hackyourwealth.com/annuities Have you purchased any annuities before, either for yourself or a family member? What kind of annuity did you buy, and why? Let me know by leaving a comment. Don't miss an episode, hit that subscribe button... If you liked this episode, be sure to subscribe so you don’t miss any upcoming episodes! Apple PodcastsOvercastSpotifyStitcherI need your help, please leave a listener review :) If you liked this episode, would you please leave a quick review on Apple Podcasts? It’d mean the world to me and your review also helps others find my podcast, too! Links mentioned in this episode: The Annuity ManNational Organization of Life & Health Insurance Guaranty AssociationsSocial Security: How it works and optimal claiming strategies (HYW050)How Medicare works: eligibility, enrollment, cost, and coverage options (HYW048)How Social Security Works: The Ultimate Guide For LaypersonsRetirement withdrawal calculator: How long will your savings last in retirement?Schedule a private 1:1 consultation with meHYW private Facebook community Intro/Outro: Old Bossa by Twin Musicom.

#81: With the market rallying like crazy this past year, you might have significant capital gains on stocks right now. Now might be a good time for some of you investors to harvest some capital gains. Maybe you’re looking to buy a house. Or maybe you just want to rebalance your investments. But when you sell stock, you pay taxes on the sale. And capital gains taxes can get complex because the effective tax rate you pay when you sell stock depends on whether there are long-term vs. short-term capital gains, whether there are any long-term vs. short-term losses, what your marginal tax rate is, and even whether you are required to pay the Medicare Surcharge Tax. That’s why this week I invited CFA Scott Stratton to explain the intricacies of how capital gains taxes work. We discuss key rules and strategies you need to know to do thoughtful capital gains tax planning. If you want to learn how to minimize capital gains taxes, then don’t miss this episode. You’ll learn: Check it out here: https://hackyourwealth.com/capital-gains-tax-on-stocks What other tax planning questions do you have about capital gains taxes? Let me know by leaving a comment. Don't miss an episode, hit that subscribe button... If you liked this episode, be sure to subscribe so you don’t miss any upcoming episodes! Apple PodcastsOvercastSpotifyStitcherI need your help, please leave a listener review :) If you liked this episode, would you please leave a quick review on Apple Podcasts? It’d mean the world to me and your review also helps others find my podcast, too! Links mentioned in this episode: Good Life Wealth ManagementTax Loss Harvesting: Rules and Strategies with Bob Dockendorff (HYW022)How to take a year off, earn 6 figures, harvest capital gains, do Roth conversions…and pay zero taxes on it allHow to earn 6 figures and legally pay zero taxes (updated for 2020) (HYW021)Avoiding capital gains tax on real estate: how the home sale exclusion worksHow the Home Sale Capital Gains Tax Exclusion Works (HYW033)Schedule a private 1:1 consultation with meHYW private Facebook community Intro/Outro: Old Bossa by Twin Musicom.

#80: Teaching kids about money isn’t easy, but it’s crucial if you want to boot them off your payroll after they graduate from school. But while financial literacy is good, helping your kids build the mindset and momentum to achieve financial independence is even better. It requires that they internalize (and value) aggressive saving, investing, and compounding…not just living within their means. That’s why I was so excited to chat this week with Doug Nordman and Carol Pittner, father and daughter co-authors of a new book on how to teach next-generation financial independence. We discuss: Check it out here: https://hackyourwealth.com/teaching-kids-about-money-financial-independence What strategies do you use to teach your kids about saving, investing, and compounding? How are you helping them learn about financial independence, if at all? Let me know by leaving a comment. Don't miss an episode, hit that subscribe button... If you liked this episode, be sure to subscribe so you don’t miss any upcoming episodes! Apple PodcastsOvercastSpotifyStitcherI need your help, please leave a listener review :) If you liked this episode, would you please leave a quick review on Apple Podcasts? It’d mean the world to me and your review also helps others find my podcast, too! Links mentioned in this episode: Raising Your Money-Savvy Family For Next Generation Financial IndependenceThe Military GuidechildFIREFinancial literacy for kids: how to teach your kids about money (HYW077)9 Crucial Money Lessons Your Kids Must Learn to Succeed as Adults (HYW027)How to financially prepare for starting a family with Kevin Mahoney (HYW038)The best parenting guidance I’ve learned for raising successful childrenSchedule a private 1:1 consultation with meHYW private Facebook community Intro/Outro: Old Bossa by Twin Musicom.

#79: This one’s for you parents who have kids in college or soon going to college… In the COVID relief stimulus bill that passed at the end of 2020, there was a big chunk about federal student financial aid. New rules are bringing significant changes to college financial aid. This week, I deep dive with my friend Ann Garcia, aka The College Financial Lady, on what these changes are and how they will impact you and your family. We discuss: Check it out here: https://hackyourwealth.com/fafsa-federal-student-financial-aid-changes Will you be applying for college financial aid over the next few years? What one thing brings you the biggest worry when it comes to college financial aid? Let me know by leaving a comment. Don't miss an episode, hit that subscribe button... If you liked this episode, be sure to subscribe so you don’t miss any upcoming episodes! Apple PodcastsOvercastSpotifyStitcherI need your help, please leave a listener review :) If you liked this episode, would you please leave a quick review on Apple Podcasts? It’d mean the world to me and your review also helps others find my podcast, too! Links mentioned in this episode: The College Financial LadyCollege financial aid tips and strategies, with Ann Garcia (HYW053)529 college savings plans: rules, tax benefits, & qualified expenses (HYW026)College financial aid strategies to optimize your assets, income & EFC (HYW025)Schedule a private 1:1 consultation with meHYW private Facebook community Intro/Outro: Old Bossa by Twin Musicom.

#78: For this episode, I polled other influencers in the personal finance community to ask for their best tip on teaching money lessons to kids. I had four different personal finance influencers weigh in – a range of bloggers, podcasters, authors, and community admins. All of them are parents themselves. I asked each person to answer one simple question: “When it comes to teaching your kids about money, what single method or strategy have you personally found to be most effective?” Check out their collective tips here: https://hackyourwealth.com/money-lessons-for-kids-tips-from-personal-finance-influencers What strategy have YOU found to be most effective when it comes to teaching your kids about money? Let me know by leaving a comment. Don't miss an episode, hit that subscribe button... If you liked this episode, be sure to subscribe so you don’t miss any upcoming episodes! Apple PodcastsOvercastSpotifyStitcherI need your help, please leave a listener review :) If you liked this episode, would you please leave a quick review on Apple Podcasts? It’d mean the world to me and your review also helps others find my podcast, too! Links mentioned in this episode: Couple Money PodcastThriving Families FB groupRaising Your Money-Savvy Family For Next Generation Financial IndependenceKateHorrell.comPersonal Finance for U.S. Military Service Members and Families FB groupHer Dinero Matters podcastFinancial literacy for kids: how to teach your kids about money (HYW077)9 Crucial Money Lessons Your Kids Must Learn to Succeed as Adults (HYW027)How to financially prepare for starting a family with Kevin Mahoney (HYW038)Hey, rich people. Wealth management includes telling your kids how rich you are.The best parenting guidance I’ve learned for raising successful childrenHow to motivate your kid to win the national spelling bee (and excel in life)Schedule a private 1:1 consultation with meHYW private Facebook community Intro/Outro: Old Bossa by Twin Musicom.

#77: Teaching financial literacy for kids may seem like a tall order…when considering that financial literacy even for adults is a national deficiency. But teaching kids about money is crucial if you want your kids to grow up financially responsible and independent. As a parent, you will have a strong vested interest in it, because if you fail at it you’ll eventually pay the consequences (literally), e.g., if your adult kid can’t support themselves and move out of the house. And early retirement? You can probably kiss that goodbye if your kid is financially reckless. So, instilling good financial education for your kids is a wise investment…maybe even the wisest investment. This week, I spoke with Robin Taub, author of the book “The Wisest Investment,” about how to instill financial literacy for children. We discuss strategies, role modeling, and techniques for teaching personal finance and money lessons to your kids. What you’ll learn: What methods have you found to be effective when it comes to teaching your kids about money? If your kids are self-motivated to learn about personal finance – earning, budgeting, saving, investing – how did you get them to be self-motivated? Let me know by leaving a comment. Don't miss an episode, hit that subscribe button... If you liked this episode, be sure to subscribe so you don’t miss any upcoming episodes! Apple PodcastsOvercastSpotifyI need your help, please leave a listener review :) If you liked this episode, would you please leave a quick review on Apple Podcasts? It’d mean the world to me and your review also helps others find my podcast, too! Related links: The Wisest Investment: Teaching Your Kids to Be Responsible, Independent and Money-Smart for LifeRobin Taub9 Crucial Money Lessons Your Kids Must Learn to Succeed as Adults (HYW027)Schedule a private 1:1 consultation with meHYW private Facebook communityIntro/Outro: Old Bossa by Twin Musicom.

#76: Retiring early to travel the world is a common goal for FIRE aspirants. But full-time travel can lose appeal quickly. Churches and temples quickly start to look the same. Gardens and palaces quickly look the same. When you’re responsible for creating all the structure to your day – every day for weeks and months on end – it gets exhausting and can feel purposeless. But what if you could design early retirement travel around language learning? By enrolling in language immersion courses at local language schools in countries you travel to, you not only learn how to communicate conversationally with locals. You also get structured and even vibrant exposure to local culture, food, people, and activities because being situated in a school or university environment creates that exposure and structure for you naturally. This week, I invited Ingrid, a software engineer turned early retiree and successful travel blogger, to share about her early retirement experience pursuing language learning through travel immersion courses. Making language learning the focus of early retirement has brought joy and purpose and structure to her travel experiences. We discuss: Check it out here: https://hackyourwealth.com/language-learning-courses-retirement-travel-immersion Have you ever studied abroad or taken a language immersion course in another country? What do you think about the notion of pursuing language learning through travel immersion courses in early retirement? Let me know by leaving a comment! Don't miss an episode, hit that subscribe button... If you liked this episode, subscribe so you don’t miss any upcoming episodes! Apple PodcastsOvercastSpotifyI need your help, please leave a listener review :) If you liked this episode, would you please leave a review on Apple Podcasts? It’d mean the world to me and your review also helps others find my podcast, too! Links mentioned in this episode: Second-Half TravelsFirecalcCouchsurfingSquaremouthNomad CruiseRemote YearWiFi TribeSchedule a 1:1 consult with meHYW FB communityIntro/Outro: Old Bossa by Twin Musicom.