Taylor and his wife are pursuing Financial Independence by saving 40 percent of their income every year.
As they got raises and increased their take-home pay, they kept expenses low so they could increase their savings to 70 percent.
Learn some of the frugal habits they continue to use and about picking individual stocks.
For more information, visit the show notes at http://moneytreepodcast.com/frugal-your-way-to-financial-independence-with-taylor-the-fi-guy
Deacon and his wife combined finances shortly after marriage – only to find $52,000 in consumer debt was weighing them down. They made the choice – and a plan – to pay down that debt in 18 month.
Moving past debt freedom, Deacon began focusing on complete financial independence.
In his book, “You Can Retire Early!: Everything You Need to Achieve Financial Independence When You Want It” he describes the three ways to financial independence:
Real estateStock marketEntrepreneurship Listen...
Raw land. Is it the undiscovered country of the investing world?
Mark Podolsky shares his experience buying, selling, and leasing raw land as an investment.
Unlike buying traditional real estate, purchasing raw land doesn’t require a lot of money. Mark outlines a process of looking for lots with unpaid property taxes, purchasing the lots, and then offering them to people who live along the plot line.
The key to a successful raw land purchase is to do the research and due-diligence...
Shannon Compton Game went through a divorce. Today she shares things she learned that helped get through the process of separating finances in a way that doesn't drain the bank.
For more information, visit the show notes at http://moneytreepodcast.com/223
Investing in equities can help you build wealth, but creating a business and finding other streams of income can help accelerate building your net worth. Johnny Gabriele knows this all too well.
He thought it would be fun to find a cat-shaped cake mold for his girlfriend. After looking everywhere and finding nothing, he took the opportunity to create his own and started selling them online.
A new small business was born.
Johnny shares the steps to creating a business, and emphasizes...
Why is knowing about intellectual property important for normal investors?
A patent gives you a specific right in a given country. It give the right of exclusivity to sell the item or device, build the device, or import it into the country.
A great name, they offer something exclusive, or a company that works hard and offers an excellent product or service. A patent can be placed on any one of these things to bring something unique to an investor.
Dr. Daniel Goldstein also explains the...
CFP Rick Rodgers described the three legs of a tax-efficient retirement strategy:
Then the panel comes on to discuss Social Security, municipal bonds, and year-end tax strategies that can help you can avoid being taxed on capital gains when expecting a loss in the market.
For more information, visit the show notes at http://moneytreepodcast.com/220
Kip Meadows joins us to talk about how ETFs are constructed.
He explains that an ETF is a type of mutual fund that trades like a stock. While mutual funds aren’t technically traded until the end of the day, ETF transactions can be conducted during intraday trading.
“They’re organized in a structure that allows buying shares in an underlying portfolio. That's why you go through an exchange because you have to to go through a broker dealer in order to purchase an ETF. The broker-dealer...
Insider Trading may not be what you think it is. But it is clear that there are rules to follow when certain knowledge is obtained when it comes to buying or selling stocks.
When you see people get shares inside their own company and they immediately sell. This is not illegal, and could be used as an indicator in your decision to buy or sell.
We also talk about stock buybacks, following the Consumer Confidence index, and how you can read various indicators.
For more information, visit...
What’s going on in the market? Can you predict the next market downturn from how well the economy is chugging along and the confidence of consumers? For almost a decade, people have been predicting the next bear market. With the recent volatility in the DOW and S&P 500 index, you would think their prediction is coming true. But is it? Doug Goldstein, Linda P. Jones and Miranda Marquit discuss indicators we can examine to determine how the market is doing today and what that means for the...
Kevin Quigg describes the differences between ETFs, mutual funds, and the type of person who would benefit from hedge funds.
Exchange Traded Funds (ETF) is traded during the day, just as a single stock would be.
Mutual funds are typically bought directly through the mutual fund manager. The price is determined by the net asset value of the securities held within the fund at the end of the trading day.
Kevin Quigg describes hedge funds as different from ETFs and mutual funds as “sharp...
What happens when you win BIG in the lottery? This is the topic Miranda has been pondering when the Mega Millions jackpot reached $1.5 billion.
Linda talks about how mortgage rates over 5 percent can impact the market and what it means to you while Doug shares a story of siblings inheriting property from their parents. What could go wrong?
For more information, visit the show notes at http://moneytreepodcast.com/215
Can you take advantage of any loopholes in ROTH IRA contributions to withdraw earnings tax and penalty free? That’s our first question from Jason who wants to pull from his investment in an early retirement scenario.
We also hear from Sweetcase on Facebook who asks, “How do you decide which investing product to use?”
Katrine asks if it makes sense to trade binary options. Can she make it work for her?
Got a question? Send it to us here: http://moneytreepodcast.com/contact
ADD, Apps, and Asset Allocation: It's all covered in today's episode.
Listeners Alicia, Sally, Katie, Jillian and Shanna sent in questions for this episode.
If you'd like to have your question addressed, contact us here: http://moneytreepodcast.com/contact
Chris Hogan speaks to people all over the nation about how to make better moves with their money. As one of Ramsey Solution’s speakers, he has the opportunity to address thousands of people who are looking for knowledge, solutions, and answers to their money problems.
It's not about numbers, it's about stories
One of the ways he gets his message across is by telling stories. Stories, as Joe Saul-Sehy says, is what’s missing in today’s financial media. Chris Hogan agrees that personal...
Anand Talwar from Ally Bank explains how banks make their money.
The primary way is through loans. Consumer loans, such as Ally’s leading auto finance business, need to charge more in interest rates than they are paying out in savings account interest. This ensures the entity earns more than it spends on overhead and other expenses.
Anand points out that brick-and-mortar banks have different expenses than online banks, as they need to cover facilities costs and on-site employees. This...
Would you move to an overseas city if it only cost $40k a year to live? CNBC wrote an article about five overseas cities where you could have a comfortable retirement for $37,000 a year.
Miranda, Joe and Linda talk about the things one would have to leave behind but also the benefits of moving to a different location that don’t only have to do with money.
Pros and cons to moving overseas:
The internet makes it easy to connect with anyone almost anywhere in the world
In some locations the...
Recently JP Morgan announced the release of their new investing app, which leave many saying “Welcome to the club”.
Fintech is changing the way we do money - and it’s here to stay.
Budgeting, spending, investing, and even trading are all influenced by fintech.
Fintech products are helping people become influence marketers, and our guest Joe Saul-Sehy says apps help create community.
One more thing that is coming out of the fintech movement is the ability to get people interested in...
75% of people who receive inheritances go through all the money within 5 years. Aretha Franklin passed away intestate (without having made a will).
Doug Goldstein knows a thing or two about inheritances and released a book with helpful advice about how to handle a windfall - and how to properly leave an inheritance to your loved ones.
For more information, visit the show notes at http://moneytreepodcast.com/208
Dr. Crosby shares the fundamental methods for investing success based on his studies of human behavior and finance.
He shares the 4 C’s to behavioral investing:
and some of The Ten Commandments of Investment Behavior.
For more information, visit the show notes at http://moneytreepodcast.com/207