35 Burst results for "J D Roth"
The Apollo Library for GraphQL
"For folks that don't know anything about this. What is apollo. how does it fit with roth. Qu'ils can you give a brief overview of that. i can take that question So how doing oscar. Much since the beginning and we have open source implementation of logically. Things are off curiel. Stacks maybe i should say oh god stop would be good. Oh so rescue allies I like to think of it as a rest on steroids. So it's a way to communicate with your back. End of that allows client to query specific fields as a need so unlike at traditional rest. Api you query. Jesus and you have off seems so some of the things you might want and some of the things you might not use we've got you l. You can clearly hea- quest only the shells and that as to unit so it's It's a nicer bathroom. Mincy women and its way to model your your data your back Which moves a lot of patients between kids and and on top of that. The nice thing we ask you this. What's a started. What made me love got you all is that it's a completely totally tight. It's actually. It has some similarities with coach because it has features such as a note safety and all types. It's it's a computer type system. So i think it's a very good candidate are good companion to have a when writing quran. So it complements kotla nicely basically right. Yeah there's a to walk city well together because of the same concept and being able to have type safety from your beckoned to your funded is a super useful and as a korean developers are really okay so now tell us about apollo. Where does this sit up. And the way it is Actual clients for and Also falls a jvm and for coaching. They took that later. So it's named envoy because this is where most of us use it so issue haven't annoyed that and you have acura beckham apollo android Will generate models typeset models. That mucho back. So in a very high level it's a adultery gins that generate some code and sauce. Feis that you can later use with a one timer is at two does fascinating and also all kinds of things like jerry quest gushing so essentially you give it an end point and then it generates everything needed to talk to that endpoint right. Yeah give it an an point and customer fight so you would you fight your language. So you'll give goth terrell. find your. give us chemo. Defines orders types in your back end and that put the models for that
Several NFL teams dealing with positive COVID-19 tests
"Also continues to impact the NFL Bills corner. Josh Norman testing positive. Every other Buffalo players including Tyler, Kroft, Levi Wallace and Demarte lower in close contact to Norman and won't travel to face the Cardinals. Ben Roth was Burger activated from the Steelers Covert 19 list. Roethlisberger expected to play tomorrow at home against the Bangles, However, Cincinnati running back Joe Mixon out with a foot injury. 40 Niners wide receiver Depot. Samuel won't plan the road against the states because of a hamstring issue. There's running back David Montgomery out against the Vikings with concussion. I'm Seth Cantor, This
"j d roth" Discussed on Motley Fool Answers
"A lot of our listeners. can't do it roth. So what's your advice. Their first of all. I'm not trying to make you talk about the back door off. But i think a lot of our listeners are going to be like well. You're telling me to put into a. But i can't right so again. If you have an employer's sponsored account you are eligible lot of people think their income limits on that and you're not but if you don't have a 401k or if your employer doesn't offer the roth in about twenty five percent don't first of all if you're if you have a 401k and the roth isn't available just email your hr folks because there's no reason not for them to offer it But if for some reason it's not offered or you've maxed it out you want more roth assets. There is something called the back door. Roth which is contributing to a nondeductible traditional ira and immediately making the conversion which is super easy to do unless you own other traditional iras then it gets more complicated in it will lead to more taxes. Every financial services firm has been handling the back door roth for years now so if you have a broker and you're interested in the back door roth call them and they will walk you through the process but again if you don't have any other traditional areas it is super super simple indefinitely a way to get around income eligibility rules for the roth. Ira co it's edited wonkery by rick angle or emails answers at full dot com. We do have a mailbag episode or right around the corner as usual So dropping the line the question or just tell us something. I don't know whatever or board. Got time on our hands. We miss connecting with people for robert camp alison southwest. Stay foolish everybody..
"j d roth" Discussed on Motley Fool Answers
"Saving more in scenario one leads to a bigger account and scenarios to three had communicated the same amounts because they're saving this amount but those are before tax amounts who comes out ahead in retirement after the money is withdrawn and possibly taxed. Here's which scenario takes the gold silver or bronze based on three different tax brackets. So number one. A twelve percent tax bracket and retirement so the person was in the twenty four percent tax bracket while working drops to the twelve percent. When she retires the winner is scenario one the investor who saved and traditional invested taxations. Next is the roth and the last is scenario to the traditional account but the tax savings weren't saved so someone who will drop into a lower tax bracket in retirement benefits from contributing to a traditional account but only if she invests the tax savings now who comes out ahead if tyree ends up in the same tax bracket according to the calculator i use. It's actually the roth and this may be surprising. You might think that is essentially a break even proposition at a couple of the calculators. I used came to that conclusion but most of the ones. I filled with favourite. The roth plus. The roth has an additional benefit roth. Ira's are not subject to required minimum distributions. At age seventy two raw 401k's are subject are md's but you can avoid them by rolling the money over to roth ira with some caveats that will touch on later and finally what if a person will be an higher tax bracket in retirement. The roth wins hands down the loser in each of these retirement tax brackets The person who contributed to the traditional account but didn't invest the tax savings. Okay let's get into conversions in some caveats so another way to build up the amount you have in roth. Assets is by converting money. You currently have in traditional accounts to roth assets however the amount that you convert will be added to your taxable income this year which will result in a higher tax bill and the math for this is somewhat similar if someone is in a twenty four percent tax bracket and they're considering ten thousand dollar conversion the now the analysis would involve the future after tax value of twelve thousand dollars four hundred growing without the conversion versus ten thousand growing after the conversion the twelve hunt twenty four hundred dollar difference being lost taxes owed due to the conversion.
"j d roth" Discussed on Motley Fool Answers
"That can help break this decision down to actual numbers just doing online search on traditional versus roth calculator and you'll get plenty of results however most of these tools make a very important. I think unrealistic assumption. They assume that the tax savings realized this year by contributing to a traditional account are invested for retirement. So for example. Let's say you're in the twenty four percent tax bracket and you contribute ten thousand dollars to a traditional 401k. That will lower your tax bill by four hundred dollars which you then sack away for retirement in other words contributing ten thousand dollars to a traditional count actually allows you to save twelve thousand four hundred where he could only save ten thousand dollars..
"j d roth" Discussed on Motley Fool Answers
"It also made traditional. Ira is available to everyone. Now bill roth was a fiscal conservative. Who grew up in montana during the depression. He became interested in politics because he wasn't an athletic kid so he would like to the capitol to watch legislators in action. He served on macarthur's staff during world war two and then went to harvard. Business school and law school the help of the gi bill moved to delaware in nineteen fifty four and got elected to congress in one thousand nine hundred sixty six kind of a mild mannered. Guy actually wasn't the greatest of public speakers but he always campaigned with a dog. He said you stand out with a saint bernard and the kids come over. They wanna pet the dog and it gives you an opportunity to talk to the parents. Encouraging americans to save it was one of his legislative priorities along with senator. Bob packwood first proposed the roth. Ira known then as the ira plus in one thousand nine hundred nine. But it wasn't until the taxpayer relief act of nineteen ninety seven that it became law. The roth was republican. It was actually a democrats idea to name the ira after him. Tap moynahan the senator from new york said quote. This is bill. Ross idea we ought to call it the roth. Ira unfortunately for him. The creation of the roth ira didn't prevent him from getting voted out of office in two thousand and he died in two thousand and three three years before the roth four one k. Became available president elect joe biden who served with Bill roth in the senate for twenty eight years said that roth was quote the person i trusted most in my public life by the way ross wife. Jane is a harvard educated lawyer and accomplish judge who was inducted into the hall of fame of delaware women in two thousand thirteen at the age of eighty. Five she's still sits on the bench. She wants said quote when i hear roth. Ira i think my grandson who was born about the same time as the roth. Ira became law. I told my son. He should've named myra but he went with. Charlie which is probably for the best. But every time i see him i think of the roth. Ira okay. That's all the history. Let's get into witch type of a cow. You should choose with.
"j d roth" Discussed on Motley Fool Answers
"Just remind you in the cares act was at taxpayers. Earning less than ninety nine thousand a year or one hundred and ninety eight. Four couples were sent checks worth up to twelve hundred dollars with an additional five hundred for each child. In total. The irs made one hundred fifty nine million payments worth two hundred and sixty five billion dollars. The hope was that. Could you imagine wow. It's a lot of money that's a lot of just doing something you sending out one hundred and fifty nine million payments anyway. The hope is that consumers would of course spend them you moola prop up the economy a bit which shrank by nine point. Five percent in the second quarter of two thousand twenty. So what did americans do with the money. You might be wondering i was. The answer is not super interesting. here we go. And these special. June survey of consumer expectations eighty nine percent of respondents reported that their household received.
"j d roth" Discussed on Motley Fool Answers
"Hey bro elson. Hello in this week's episode. We're going to look at the crucial math behind the raw for traditional. Ira if you like wonky stuff. This episode is for you. You're gonna love it absolutely love it the rest of you all that more on this week's episode of molly police. So alison what's up. Well bro as you may have heard. We're in the middle of a global pandemic and as results. The government may a few decisions awhile. Back to help. Americans cope financially with the fallout. Such is stimulus checks and the opportunity to take money out of your 401k. So what did americans actually do. A few recent surveys studies and articles tried to find out. So let's start with being able to access your 401k. As you recall and feel free to correct me. If i get any of this wrong. The cares act. Allowed savers to take corona virus related distributions emergency withdrawals of up to one hundred thousand dollars from their retirement plans in. Ira's those who are under fifty nine and a half can access the money without the usual ten percents early withdrawal penalty. Initially it just applied to people who had the coronavirus or their spouses or dependents. Who had the disease as well as those who were laid off for load or had hours reduce those unable to work due to lack of childcare entrepreneurs how to shutter their business but it was eventually expanded to people who also had a job start date delayed or an offer rescinded due to covid nineteen. So did americans take advantage of it for that. Let's head to the wall street journal and an article by an turkson and corey dry brush. The tidal americans were given the coronavirus option to raid their 401k. Most didn't so there you go moving on. Then i'll i'll i'll dissect the article a little bit for you so -delity investments which is apparently the largest 401k provider in the country has seen four point six percent of eligible people. Take some money out through. September thirty to the virus and an additional one percent have taken a so-called distribution that allows withdrawals for reasons including buying home preventing foreclosure paying medical bills that is compared to about two percent a year. That typically take a hardship distribution the withdrawal rates are according to dave stinnett head of strategic retirement consulting at vanguard group much less dire than we were thinking back in april. He says about four point. Five percent of eligible people in retirement plans vanguard ministers took the money out due to the crisis and one point. Five percent did so on hardship crowns through september thirty so why didn't many people take advantage of this option. Well the article also says it right there in the sub head low income workers. Who would be most likely to tap a retirement. Savings account are least likely to have one so for example we know corona virus has had a huge impact on the hospitality industry. It's an industry where most employees aren't offered paid time off let alone a 401k. Overall about one third of private sector workers don't have access to a workplace.
New York City to begin counting mail-in ballots today with several races at stake
"Here in its New York intense City is set wind to begin and counting rain and more flooding than half to a Boynton million Beach, mail in Florida ballots that'll Tropical start today, Storm votes warnings that could are up in Miami, Really Fort not Myers, affect the presidential Fort Lauderdale, race in West any way, Palm but it and could swing Naples. some Here's local National races in Weather the state Assembly Service as forecast well. The deadline for David for the states Roth, local who board says of Elections the storm received could these strengthen absentee over ballots the Gulf is expected is tomorrow, to meet so they're going to get In the a proximity head start on that of today. the keys ISA Friday. through The number Monday of melon morning. votes received by each It's borough, gonna drift for example, westward, was 200,000 Um in Manhattan about 160,000, Tuesday, queens, but it's never just going over to get 100,000 terribly in far Brooklyn, away about from 52,000 Florida. Bronson. For now. Storm Just over 31,000, surge warnings were still up Staten in Island. the keys, Now the total where they is about are bracing half the for 1.1 a foot of rain. million Miami absentee Dade ballots where requested ADA could spawn by residents. tornadoes Local has races. closed. Schools, Still bridges, not called. air lock You include down. the one in ADA killed at least Staten 38 Island, Brooklyn, people with the call in Malia Honduras, Takis and where Max some 1.8 Rose. Even though million Malia people Takis nationwide has about a 15% are affected point by advantage. the storm. Rose still Ah, has not veteran conceded Mt. these A additional worker numbers has been found should dead tell the on story. the job. 55 I'm Glenn
Amid pandemic, hospitals warned of 'credible' and 'imminent' cyberthreat
"Beyond this number of hospitals that have been hit with this cyberattack thus far, Nicole pro. Roth reporting at the New, York Times that the hackers behind these attackers who are believed to be based in Moscow and Saint Petersburg Russia these hackers quote have been trading a list of more than four hundred US hospitals they plan to target. And if this is causing you to get a little pit in your stomach, you are not alone cybersecurity. People are kind of freaking out about this. Here's from the Associated Press to really good roundup on this today. Co The offensive by a Russian speaking, criminal gang coincides with the US presidential election although there is no immediate indication, they were motivated by anything but profit. Charles Carmichael Chief Technical Officer of Cybersecurity Firm. Mandat said in a statement quote we are experiencing the most significant cyber security threat. We have ever seen in the United States. Alex Holden, CEO of hold security, which has been closely tracking the ransomware and question for more than a year. Agreed that the unfolding offensive is precedent magnitude for the US given its timing in the heat of a contentious presidential election and the worst global pandemic in a century.
Making your money work in a stock market selloff
"So the stock markets here in the United States and elsewhere in the world. Are Having significantly rough days. And I don't know and nobody knows if this is the beginning of a true lasting stock market rout. That would lead to its nose, a correction where the value of your investments in your 401k or an investment account or whatever would fall typically ten percent or more, or this could be the start of a bear market, which is a decline of twenty percent or more, or it's just a few bad trading days. The reality is that what set off? The. Problems for investors. Is the extreme increase in the number of corona virus cases in the United States point where hospitalizations are surging. And we are at what? Public Health people refer to as a critical point is the kindest words they're using. There are some that are like talking about panic about what's going on with Corona. Virus and we do have a real problem because we have the public health aspect. people getting ill we are going to have unfortunately a spike in the number of Americans who die from Corona virus the good news. Is something that I talked about recently that is that the hard working people in medicine. Have come up with better ways to treat people. And so is they've learned over this year and so even the spike in cases, the fatality rates will not be as ugly versus number of cases is they were earlier this year but regardless. This is really ugly for the economy. And the doesn't matter the false choice arguments. About lockdowns not lockdown whatever what really matters. Is What individuals choose to do and individuals by their actions are showing that they are going to do. less eating out less travel, less different activities that will impact how the economy's doing. We had kind of stalled to help with half the jobs lost to corona virus have recovered the other half not. And now we're going to face what could be a very difficult next few months. The good news is that we are closer. To having vaccines that seemed to work. And widely adopted if they are in twenty one. That Corona virus will be defeated in the meantime though it's going to be tough for people's health, their lives and the economy, and that's why the stock. Market. Is Tanking, because economic activity Will. Decline because of this search and. We need a new game plan we need a new roadmap and I think we will get to one about how we do disease management. In the US, we're just not there yet. So. What does that mean to you? With. The concerns have been hearing from people with what may be the most unloved stock market. I can recall where the stock market has had. These great values for a long time people have been really really afraid and polling of investors shows that people have been really worried that we would have the market tank because of how valued stocks been potentially overvalued. So. I don't want you to react emotionally. To this wave of uncertainty. I want you to think about what game you're. If you have money in the stock. Market. The, you need right away. That's dangerous. If you have money in the stock market that you don't need for a good while. Then this isn't dangerous. And I'm a huge believer in something Warren Buffet. was talking about again recently. How for individual investors? You want to invest on a regular schedule. It's an old boring concept. That has the double dull name dollar cost averaging. The idea is that you ignore. Current News about the economy. And what you do is you're steady as you go because you're not investing four today you're investing for the long term. And if you put money on on a regular schedule, most often for most of us that would be through a retirement plan at work or potentially through a Roth IRA. If, you put money in each pay period or each month. You don't have to worry as much about the short term zigzags with what investments are worth. The reason is, is that particularly for those that are under age forty five? calamitous stock market today makes you more money over time for when you will use the money later in your life it's simple math. because when the market declines every dollar you put in from your paycheck. Buys you. The equivalent of more shares of whatever year investing in through retirement plan at work or on your own.
Remembering Eddie Van Halen with Steve Gorman
"Joining me now is Steve. Gorman who was the drummer in the Black Crowes who now plays with trigger hippy and before we talk about some of the Black Crowes stuff in your book I. I saw tweets even it was talking about Eddie Van Halen, which is Kinda. Why you here you say there will be many many words written and spoken about Eddie. Van. Halen, over the next few days, weeks, months and years those millions of words will never come close to expressing what he meant a rock music what he meant to guitarist and what he meant to the guitar itself that's pretty powerful statement Mr Gorman what did Eddie and remind me to rock music I. Think it's it's pretty simple. You can say that he and Jimi Hendrix of the two guys. That truly, and and only the two guys that moved the needle for the guitar itself I mean Hendrix. came out of a blue based. seem. And took the playing and the tone he could get to a new place but even hail and. Really almost came in from another country. Another planet I should say another he's like an alien life form I mean, he was a virtuosic player obviously but he He reinvented what what you could do is to guitar and the fact of the matter is this. Like Hendrix. But even to a greater degree, anybody tries to play like Eddie. Van Halen. Just sounds like a mind a mimic they. It's like rich little doing Johnny Carson okay. Yeah. That kind of sounds like him but. There's nothing nobody's ever been able to do any van. Halen. Did it make it feel a certain way? That each just the and he was that way at twenty two I mean, this is this is not a guy like it's not like David Blaine magic tricks where he gets bigger and better every year he started with card tricks that other people did I even Halen hit the ground running with Van Halen one playing an instrument that have been around for centuries unlike anybody else had ever done I mean he was on the Mount. Rushmore. Of Great Depar- players. At twenty two years old and then, and then he stuck around for another forty years still playing unlike anybody before sin. So I just think that in terms of. You know. Sheer unique. Mindset ambition combined with just. Great talent obviously. But but also phenomenal work ethic I mean he's just a complete unicorn in every sense of the word. How would you describe his guitar sound and I say that I know what I think of it but I wasn't I just messed van Halen like I came around right as you guys were blowing up honestly so that for me the van Halen was slightly classic rock slightly old rock to me as A. Kid. So as someone 'cause, you're just years older than I am but how would you describe his guitar sound someone who was in in it and living it in love and Van Halen? Well I can tell you that that was thirteen years old the first time I heard Van Halen and I remember it. I remember where I was I remember who I was with. It was going home from school in Hopkinsville Kentucky. You really got me there kinks the you know the their cover, the kinks song came on the radio. And and it was playing already and I said, Hey, mom turn that up. It was me and my mom and my friend Brooke. Lofton. The three of us in a car and she turned it up and I my first thought was. That must be like a live version of the king song and I was thinking like we don't they don't rock or do they. But when it hit that Solo and then by the time, the song ended I realized well, that does that's not ray Davey seeing this is clearly a cover version but what on earth is this and it was like making my? Hair on the back of my neck stand up. This is a time when I thought punk rock was the coolest thing in the world. and. The truth is Van Halen was more punk than the punks because they were truly breaking down a bunch of barriers if you will or they were going in their own. You know there hasn't been a band like Van Halen since led Zeppelin in terms of. Rock band hits the ground running at full steam and it obliterates everything in their path in a certain sense and. Jimmy van Halen sound it sounded like California was in my head. You know soon as I realized soon as I heard about them, they're from La, and as soon as I saw David Lee Roth and then as soon as I heard more than you know the next thing I heard was eruption Guitar Solo and you know hearing just two pieces of their first album and seeing what they look like it just. It felt brand new and it already felt like they're going to be around forever. You just knew from the jump and this is me as a thirteen year old kid who is obsessed with music. This band is one of the Alzheimer's like there's nothing like this and they all have the chops and the other thing too as long as I'm just rambling incessantly any van Halen was a great rhythm player. It wasn't just about the Solos he led the band rhythmically and he's also it needs to be noted not that it's not obvious. He's a hell of a songwriter I mean he really was. As I said before he's a true Unicorn I mean, just just nothing like it. What does this sound like do you? It sounds frequent and right in right in the zone near your your key. That's one thing because listen I played a little bit I don't play even as good as my friends who are real life musicians, but it's perfect frequency and frequency is in the tone or the, but as because it's a lot. I mean Brad Paisley plays unnoticed Brad. Paisley. Because I hear the chicken Pickin I hear a very distinct sound and again I didn't catch van Halen as it was happening in my childhood. But when I hear Van Halen Song even if I, it's I, don't know who it is. Just hear the guitar part I hear the Eddie van Halen because I how fast he shreds but the pattern that he does it, you can just tell. By By his fingers and it just kind of again it's hard to explain when you ask about music but that's what I think about and I try to. Always try to. Prepare analogies and most of the people who listen to this podcast here between twenty to forty, and if you were to make an analogy to another band, it's GonNa be tough because Van Halen was massive. But who later on had the kind of? Impact or. Reflected the mass listening that Van Halen had well. What band what yeah. What band can we look at now or in the last ten years and see? Okay. Well, that's how big Van Halen was to the people that were the kids in the eighties.
Guitar legend Eddie Van Halen dies at age 65
"And rock legend Eddie Van Halen has died of throat cancer at the age of 65. Jem Aswad is a senior music ever editor at Variety, and he joins us now to look back at Eddie Van Halen, Sze life and career Now, Jim, What was it about his guitar playing that made Eddie Van Halen such a legend? Well, he had a lot of flash and showmanship and, you know, dazzle, But underneath it all, there was a really salad musical foundation. He was he was classically trained. And although he never really mastered reading music or anything like that, that built a foundation that unlike a lot of other especially heavy metal guitar players, it wasn't just flash. There was a really foundation to it, and he was he was dazzling. When he first came out all the guitar players I knew were just like, how on earth does he do that? Well. The band, of course, found huge success in the eighties. But they went through a lot of changes but still continue to have hits. How did they persevere? Well, it is. The real basis was the first album. It's one of the greatest rock debuts ever made. It's one of the greatest debut albums ever as far as I'm concerned, so a lot of it built off of that, and you know the legend that ensued from it. As long as and they kept delivering hits throughout Theeighties. Even after David Lee Roth left in 1985, they continued to have hits and sell out, actually stadiums. They did the headline Stadium tour late in the eighties, so they would manage to have a really strong career after that, a classic first album. And to hear that we lost Eddie Van Halen at the age of just 65. Was this unexpected were fans aware how serious his condition was, Yes, they were and there. There have been rumors about his condition going around really for several years, and the only take away from it is cigarette. Smoking is bad because that he smoked for a very long time, and he died of throat cancer. That is Jem Aswad. He's the senior music editor at Variety. Thank you so much for joining us. Thank
Eddie Van Halen: Revered guitarist dies at 65 after cancer battle
"His his long long battle battle with with cancer cancer this this morning, morning, and and he he is is well well known known for for his his innovative innovative and and groundbreaking groundbreaking style style on on the the guitar, guitar, which which propelled propelled the the band band Van Van Halen Halen to to superstardom superstardom along along with with his his brother, brother, Alex on drums. Singer David Lee Roth and bassist Michael Anthony Van Halen rose to prominence in the late 19 seventies and was considered one of the top acts in the world. And he was born in Amsterdam and raised in Southern California. And Helen was born in 1955. That's
Social media amplifies conspiracies ahead of 2020 presidential election
"So we may be calling it Election day. But there might not be actual results for days, if not weeks in the presidential race, and that's because of all the mail in voting. Right. And during this waiting game, there is some kind of fear that people will start spreading conspiracy theories, especially on social media. Facebook and Twitter say they are well aware of this. They don't want their platforms used to undermine the democratic process. What are they going to do about it? So before we chat about this, we do want to note that Facebook is among among NPR's financial supporters on Let's turn out. NPR's Shannon Bond, who's been looking at all of this is in San Francisco. Good morning, Shannon. Good morning, David. So you're talking to social media companies about these fears? What are they telling you? Well, you know, they've been thinking about the election and misinformation for a long time, looking back to the lessons of 2016 when Russia used social media to try to manipulate voters, and also you know that things like the 2018 midterms other elections around the world. A lot of this planning takes the form of these threats, modeling exercises, So the companies you know, come up with different attacks and then game out how they would respond. You'll Roth, who leads site integrity, a Twitter gave me some examples. A high profile figures account gets taken over to the possibility of a large scale spam or bought attack to the risks of foreign interference like we saw in 2016. This time, As Facebook's chief operating officer, Sheryl Sandberg, told all things considered this week. You know, these companies were concerned about what happens not just before the election, but also after November, 3rd Both Twitter and Facebook say they're now going to be cracking down on post that say, For example, voting by mail is somehow fraudulent post that advocate violence to disrupt the transfer of power or premature claims of victory, and they'll do that by either labeling are removing We should say that some of these kinds of messages on DH spreading doubts have come from none other than the president of the United States himself. I mean, does that fact complicate things for these companies and what they could do? All right. We heard this again from President Trump this week at the debate. He's suggested he might not accept the results of this election. You know, In the case of Facebook, this company has come around pretty reluctantly to the idea that they might have to somehow moderate what the president says. And of course, we've had elections before where we've had to wait to find out who won remember back in 2000, the Bush versus Gore fight that dragged on for more than a month after Election Day, but disinformation expert Clint Watts says, you know we live in a different world now. Yeah, There's some angry lawyers and Bush versus core, but Is pretty tame compared to today. And of course, there wasn't Twitter or Facebook 20 years ago. It's true, and I mean you cover these companies. Twitter Facebook. Are they up to this? I mean, if this becomes a real mess Well, you know, this is not just about the rules that they're making its about whether they enforced thes rules and enforce them consistently. And frankly, the track record isn't particularly great. You know, Facebook specifically has come under a lot of criticism. For just not doing that not enforcing things evenly. Just this week. The Biden campaign called Facebook quote the nation's foremost propagator of disinformation about the voting process. Because it's chosen toe label and not take down a post by Trump attacked voting Now Facebook insists it applies its policies fairly. But you know, to answer the question. We just don't know if the social networks can hold the line after the election.
How Do I Do the Baby Steps on Disability?
"Eddie's weathers in Salt Lake City Hi Eddie how can we help? Rachel. Talked to you today you to what's up. Well I I'm wondering how my baby step journey actually is going to look I. most of my. Is actually from disability income. and I've somehow managed to make myself to pass baby sent three gut and. Now, I'm looking at. Trying to save for. The future and possibly by home Do you make a smaller earned income so I'm able to contribute to A. Roth IRA. But. I'm just Kinda wondering that doesn't quite get me to the fifteen percents. And I'm wondering how to do that and balance three be at the same time. On this kind of income. So what is your income? Make about. Forty eight, thousand from disability. What is the nature of your disability? blind blind. Okay. All. Right and who pays. Its from a workplace insurance policy thought I was actually injured on the job my goodness I'm sorry. Are you have you lost one hundred percent of your side or just most of it? Good Chunk of it. I still have. Some people would call functional being able to see. Some objects just no find detail at all just generally you can walk around the room but but but the idea of opening up a website and looking at it's off the off the off the out of the options. What are you doing for your extra earn money? I'm actually still teaching. On teaching. The subject that was trained in. So I was teaching chemistry. Able to do that still how That's so cool. How do you have been doing it for thirty? Years doing it all from memory. YEA, pretty? Much. Okay. All right and you got the lesson plans in Braille or whatever have you learned Braille I have some adaptable software Screen thing okay. Well, good and then after thirty five years off thing or two about it. Yeah. Yeah. That's promising. That's promising. Okay. Cool. Well, the reason I ask all these questions is on your right you can you you know you're doing good and how long ago was the accident? Seven years ago. Okay. How old are you? forty, seven you're over your and overcoming man you've been getting it I'm proud of you and your your impression. Thank you. So I, mean because that's a life altering to say the least and some people just get paralyzed and you just kept rolling man good for you. All right. So how much do you make teaching Eddie? Kind of. It's been as little as about. Nine thousand. And it's been as much as about thirteen. It's all depend on. You know how much I get person master? Okay. Yeah while say because between that and your disabilities or are you are you married kids family situation? Not just me. Okay. Well, I was GONNA say that's a relatively. Average income. That's the positive part is how to do the steps in disability is that people are doing it with this amount of income they're just working their way through it. So if you wanted to pause baby step forward to do baby step three B and go ahead and save up that down payment, you could for a short period of time just kind of accelerate that and actually get that quick win faster than if you were putting your money into that Roth Ira so you could do that as an option. Yeah. I agree I think you're getting there. Let me tell you what I'm hearing I'm hearing you got. Big Future ahead of you. And you've been through hell and so it might be harder for you to grasp that future but. I think I think you could do it I think you could I think you could do tutoring. Thank you. Could you might double your income If you push around and think about this a little bit you don't have to but you're just a survivor man I mean you've gotten after it. I'm so proud of you. So I would be continuing to think about ways you could do the teaching because you know your stuff like you said and anything you can do to get your income up, of course, accelerates all of these issues.
How Chicago's Death Alley Got Its Name
"By I decided to restart my day took a shower here. We are feeling good feeling in feel like I'm in the driver's seat. Good. Good. Yeah. That's a lesson forever and restart your day whenever you choose if you're not going the way, you want it. You get to restart it whenever you want and hydrate. And hydrate I'm going to a separate now. Everyone with us. Wasn't that refreshing. So before we get into the history of the Pittsburgh playhouse. Mercedes who again today script wrote us a little introduction. So without further ado, let's get into says. Introduction. She writes I love Pittsburgh. It's my home city, and in my humble opinion, it's one of the top two best cities on the planet. It's a place full of life and culture and history, but it's so small unleash that it tends to fly beneath the radar for most I grew up loving the city and knowing that it has a lot to offer when it comes artistic expression August Wilson, famously loved the city his home city so much that he created that connick Pittsburgh cycle it's an amazing city so to me, it just makes sense that if ghosts were real, they'd want to come back to hang out in the burgh I love for a little longer guests I love that you really heartfelt starts episode Mercedes. I think I need to go to Pittsburgh have you been now? Road trip I how far far could we drive from here? Yeah. I don't think it's far I think yeah I don't know. No I think. We'll take our stark reserves. Okay. So the history of the Pittsburgh playhouse. By Mercedes okay. The historic Pittsburgh playhouse originally on craft and was not so much a theater as it was a collection of buildings that were brought and then turned into theatrical spaces. The first of these was acquired in nineteen, thirty four and was formerly a German Social Club. This building was bought as a wedding present by Richard. Row for his wife Helen Wayne their stories actually very cute. So Richard. Fell in love with Helen when he first saw her perform in New York, his family was super rich and well-known Spanish factors in Pittsburgh. So he bought the location for Helen to give her a nice space to act in Pittsburgh. He basically did this so that they could live there together and she would feel fulfilled even though she wasn't a Big New York City Act trix actress. On that's so cute. Matching someone just give. The building. Just so that you can. Live in the and like feel like you're a big time. Yeah. I get jobs. Yes. Okay. So that their names are Helen and Richard Richard and So. With that, the Pittsburgh Civic playhouse was formed not just by Richard and Helen. It was a group of artists making up the company but like the rows. Oh but like the rows were moneybags. playhouses. Next purchase was an adjacent house to act as a lobby for what was then known as the Roth eater. The first performance in this theater and lobby space was in nineteen, thirty four. The playhouse was fairly popular in the thirties and forties staging productions of Noel Coward's private lives in Thornton wilders. Then new our town during his l.. Then new. Oh. I would like to, I. would like to live in a world where. Still felt new. During this, the playhouses signature leading lady was, of course, none other than Helen Wayne row, which seems like a pretty sweet deal and I'm jealous of her whole situation getting a sugar daddy to basically launch her acting career. Mercedes. SPEAK ON A. So the stage also housed musicals and featured a little known dancer choreographer just months before he would get his big break on Broadway you WanNa. Take a guess Fred Astaire. Close. Close. Oh Who Does skin I don't another dig her come on. It's obvious. Gene, Kelly. of. Yeah. Gosh. Okay. But I've heard he's like Not Nice well, did he like demand rehearsals like over and over again tell people bleeding? Yeah something wacko on in singing in the rain like I've brought up seeing in the rain on this podcast before which is funny. Okay. So that's NEAT I didn't know Gene Kelly was from. Pittsburgh neither that means Jim Kelly Okay Mall from the Burgh. What a gorgeous dancer what? Does little tap into. All right. Moving on. The third building that was additives Hodgepodge of theaters was formerly the tree of life synagogue the congregation moved to Squirrel Hill. I have to stop. I have to stop Squirrel Hill. Sounds like that sounds like a horrifying like like scary movie of chipmunks and squirrels like like. or or Blake dream. Yes my partner like squirrels. Okay. the congregation moved to Scroll Hill in nineteen fifty, one in this space was acquired by the playhouse making up their largest theater space. The Rock wealthier underneath the theater was a restaurant known as the playhouse restaurant. A former ballroom turned ice cream parlor. Cute. Wow. They're out here like setting up a small town. Lot of they got a restaurant. So there's three theaters. All connecting. So like spaces. Yeah. It was the playhouse restaurant, which is a ballroom to ice cream parlor. Got It. So you want got it another local Pittsburgh or to get their star at the playhouse before becoming a household name was one Shirley. Jones. I don't know that is. Listeners You do but I hope you do if you don't Google it we will. Profess, she performed in the playoffs. Many times Okay. Walmer says love that fact but. I feel like we're GONNA waking up in like feel stupid or something. Yeah. Well, another Pittsburgh native who has a history at the playhouse, oh? My Gosh is Jeff. Goldblum. We love chuckles literally Jeff. Goldblum pits. Pittsburgh playhouse butter boop. Out by I love. Jeff. Jacob Blue, that's the best I can I gotta wash him. Once when I go on benders watching Jeff Videos I can get that I can get that down pat? I can do really well that was impression to have like just in your back pocket it is it is when parties come back in twenty thirty I'll be sure to have perfected that party trick. Apparently, his first acting was done with the children's Cedar through playhouse junior an educational opportunities where children received professional training on a professional stage. Mercedes wrote feel free to have Goldblum here I would like to but I don't know why I love You love yes. We've why sorry I just I we did watch this show. But I'm just saying like outside of like that show on Disney plastic everyone by the way if you're busy plus stream Jeff. Goldblum show it's incredible but. I Love Jeff Goldblum I want his his interviews on Graham Norton also highly recommend every interview on. Yeah. True. True. Just pivoting entirely too grim noreen. My favorite episode did US maybe we are together. So don't get mad at me but did you watch that episode of Jeff. Goldblum the world according to Jeff Goldblum by the way is the full title did you watch the episode where he goes to Jeff Goldblum Day and gets like a tattoo like he'll give some tattoo people are getting Jeff. Goldblum. FLASH TATTOOS DID YOU. Know I didn't. But I've seen I've seen him Like. In an interview talking about people getting tattoos of him. And it's so funny. It's like I feel like we should be our next to you remember when we had just left London and somewhat some artists like installed this giant Jeff Goldblum statue on like Phil Lot on the lawn outside the the bridge theater setting somewhere around there and they had this like Gorgeous Gold Statue of Jeff Goldblum laying down like he doesn't Dross Park Oh. Yeah and he's like young his shirtless Yeah Walnut list but tank top or whatever no just a button down but it was like not buttoned half a Oh Anyway so you shouldn't. Superstar. He is he's got to love him. Okay. We're going to move on because this isn't his show but if he's listening it can be your show, Jeff. He's just sweet. Just send us an email. Go slight see the me calm your show. Can take over. So. The theater began to struggle financially and was acquired by point bark. Point Park University in nineteen sixty eight the playhouse continued to operate now mostly for students for many years this way this wasn't a perfect fit though the buildings of the playhouse were old and not originally intended for theater. They were also much farther from Point Park's main downtown campus making the playhouse more trouble for the school than it was worth in late two, thousand, eighteen, the old Pittsburgh playhouse buildings crafts avenue were demolished as the spirit of the playhouse was moved to a new home. Oh, that's a bummer. It's like cool history. The new Pittsburgh playhouse complex is located on Forbes and fourth, and while it may not have as many ghosts lingering as the old buildings had it is at the very least a space that was designed and intended to be used for theatre. Sad. Sad. Okay. Well, moving on things the hunting section of the Pittsburgh playhouse. We gotta get my my spooky vocal but We also Halloween town reference. Have you sir. Familiar. Halloween town. Longtime ago. I know. Collectively, Judge Lino, she was not raised on D. Calms and it shows in times like this. There's a wonderful line that Debbie Reynolds has when she corrects her grandson on how to make a ghost noise like make it like this out of a ghost sign it was one of the daughters anyway she's like she's like she says something about it being like like lower and more melancholic
Facebook, Twitter execs are bracing for protecting integrity during upcoming elections
"Social media companies are watching what people post ahead of the November election and they're also planning for the day after and beyond that, there's ul Roth told the Atlantic Council the days and weeks after November, 3rd could be a window for bad actors to sow discord in those moments when we don't yet have the results of the election because it's an unprecedented year in the United States. In In those moments, we should be particularly vigilant. Facebook's head of security policy said the platform will have a 24 hour operations center to respond in real time. Both companies say they're better prepared to deal with false or misleading posts. Then in
Trump's Postmaster General DeJoy will testifies before Congress
"Lewis to Joy testifies before Congress Today he is sure to be questioned about just how he is changing the U. S Postal Service. Joy has already promised to suspend his plans until after the election, but still faces concern about male delays and mail in ballots. That is especially the case in states where the vote may be close. Such as Pennsylvania, where NPR's Jeff Brady is based. Just about every summer. For more than two decades, Nancy Rothwell and her family have rented a vacation house at the Jersey Shore. This was the first year she ran into a problem with the mail. The realtor contacted me after about two weeks. And said, Hey, where is your money? And I said, What are you talking about? I mailed it in July. Sir, usually takes just a few days for mail to travel 80 miles from Roth Wells, Philadelphia suburb to the shore town. Fortunately, the check arrived, but just barely in time, three weeks from now. Tell him village to Ocean City, New Jersey is like ridiculous. The Postal Service declined to comment for this story. It referred NPR TOE. Postmaster General Lewis to Joy's announcement that cost cutting measures will be suspended until after the election to joy says the agency will be ableto handle whatever volume of election mail it receives. But postal service unions are not convinced. John Gibson is president of the National Postal Mail Handlers Union. Local 30 Wait, which covers Delaware. Pennsylvania and New Jersey. He says. Giant mail sorting machines that have already been removed aren't coming back. The trend facility took out 60 VCs machines, which sorts mail there not being returned. They're just not going to perceive with removing the other three. The loss of those machines now is a concern, says Gibson, because they also sort mail in ballots because of the pandemic. New Jersey is mailing ballots to everyone, and Gibson thinks not having these machines will slow down processing. Times. The steps that have been taken initially by the postmaster general have led to the slowing of the mail deliveries. No doubt about it. Ohio is another politically important state this election and at least one case, they're postal workers say equipment they thought would just be unplugged and covered with a tarp was instead dismantled and stored outside exposed to the elements. Ensuring it can't be used again. On top of these changes. Union official Gibson says the Corona virus pandemic also has slowed mail delivery. He says absenteeism among his members was up to 50% in spring, he says that's improving and has been cut in half. Still, even with change is suspended and workers coming back. Some voters like Yumi Kwan near Philadelphia are losing confidence that the Postal Service can ensure their votes will be counted and I going to get my mail in ballots on time. If I mail my ballots really get there on time. Voting is important to Quan. She's not a fan of President Trump, who won Pennsylvania four years ago by a narrow margin. With the Corona virus. She doesn't want to risk missing election day. Like if I get physically sick and I have to be hospitalized, I will not be able to go and vote. She signed up for a mail in ballot but has decided it will be best to deliver it in person. Jeff
The stock market has fully rebounded since its collapse in the Spring
"I think about over the years. How I never for a long long time ever took any kind of question about investing. We're not an investing show. But over the years gradually, there's been more more people asking me things about Roth IRA's 401k's that sort of thing as people who were never. Focused on the stock market or investing heaven forced to as employer pensions have generally vanished and so people who are not interested in it particularly studied for it are left having to understand enough. To protect themselves building towards financial future. And so a time like right now can get extremely confusing. So we're in the middle of a pandemic. We're in a recession. We been through a time period over the last five months where fifty million of our fellow Americans have fazed at least some time and unemployment we continue today with. Tens of millions still in unemployment people whose job situation has been unstable where they are employed on an. Employed again maybe facing another wave of unemployment. How in the world? In the midst of this could the stock market have cratered when the pandemic started? And now is it all time record highs? In addition. Apple. First Company I guess ever in history anywhere on earth to hit a value of two trillion dollars. I mean that's unbelievable. That's two thousand billion dollars in value. For one company. Well. I want you to drill down on this and understand how it affects you and your wallet. A lot of people are nervous. who have seen their accounts recover but still nervous like is another shoe going to drop. So it is normal with investing. The markets go up and down routinely over time. The recovery in the midst of a recession. Is By itself not unusual many times. The stock market is a leading indicator of where we're headed and remember the corona virus recession. Was Not a recession because of underlying problems with the general economy. It was because of. Health related problem that caused the unemployment and the recession that we're in. So the underlying fundamentals are sound. As for the values being assigned to stocks right now they are normally. So I would not say that this is a bubble. But I would say that stocks are overvalued. Let's say I'm right. What difference does that make to you? If you're putting money in a 401k. or a Roth IRA or something like that. If, you're well diversified in the fun choices in their urine, the target retirement fund choices you're in. Various index choices and you're building money every pay period or every month, and you're building towards future down the road then whether the market is overvalued today, even if some stocks like a tesla are in a bubble. It is insignificant and unimportant for the glide path you're on. So don't let the noise. Of. A market being good or bad. Change, your path if you were well diversified and by being well diverse by being a target retirement fund by itself is an example of you being well diversified with your money spread out across the economy various sectors. Typically thousands of stocks. And other alternative types of things to stocks, the simplest and the least Thing that would be alternative binds many times her in target retirement funds. If. You're in index funds you own. typically five hundred to three thousand stocks and so your money is spread out. I will tell you though, right. If you're an individual investor buying individual stocks. Including all the newbies on Robin Hood. Know that your buying and selling of individual stocks. Is. A? Riskier? Endeavor And a lot of people doing Robin Hood. Is I've been reading or even doing things like. Trading. This is very, very risky to you. And it is not the basis of where your financial life should be built I. Mean you can do whatever you want. I'm just telling you. It's more risky so. No also, there's a big concentration. In the run-up and stocks in a tiny number of high tech stocks plus, Tesla. And so it means that these stocks are priced for perfection. Plus. So. Do I think there could be a correction coming? Of course, there's always correction in the stock market. Do I think there could be a bear market in our future. Yes. But there's nothing imminent. That says something like that is going to happen. It happens typically when we least expect it. So steady is you go with clear goals in mind Is Key to your financial future and security.
Dont Connect & Pitch on LinkedIn! Do This Instead
"In today's sales culture. So often I think that sales people feel the need to. Reach their quotas and do whatever they can to hit every single day every single month, and what that's causing is sales people sales representatives are reaching out and they're connecting on Lincoln, and then they're immediately pitching sometimes that pitch is even in the connection request sometimes, it's promptly upon the connection request being accepted. We as a sales function must get away from this Lincoln at its core is a professional social network. It is not a place to be connecting and pitching. It's a place to add value. So what can you do instead of connecting and pitching? What I've found is really effective in not only having conversations with people, but really building relationships is going through an engaging in their content. Understand what it is. They're doing on a day to day on a week to week basis. What are they reading? What are they engaging with? What are they talking about? That's going to do three different things for you. One, it's going to have your name be associated with providing value to the prospect instead of just. A wild connected pitch that's coming out of nowhere number two. You'RE GONNA start to learn the language that your prospect is speaking. How were they talking about their role? How are they talking about their industry so that you will understand better if first of all, you can align with your prospect and with your prospects function, but you're also going to learn how they're speaking. So you can help frame your messaging to the way they speak and not vice versa number. Three you're also going to begin to help your prospect on Lincoln. You're going to help them get their content out wider, and you're going to have your network see that, and your prospect will appreciate that because they're going to associate your name with helpfulness kind of ties back to the first point a little bit, and we as a as sales leaders. We A- sales people we as a sales function must move away from connected pitch because what's going to happen. Is Selling over linked in will not work anymore. We're already seeing this with email email open rates are down email conversion rates are down email automation is way way up people do not want to feel like a robot is selling them they want to know there's someone on the other end of that that is done their due diligence that is a person that has feelings they want to feel the authenticity and the more we automate linked in the more we. The sales process especially early on in sales development and business development we are making our jobs harder moving forward. We already see different cell phone carriers in different phones actually ebeling cold calling you can literally go in and turn off the ringer. For numbers, you do not recognize we are seeing filters on company's websites that disallow. Emails that have links or gifts or memes. Let this happen on link did added value deposit before you withdraw. But most importantly do not connect and pitch add value before you go in and
China Sanctions 11 US Citizens Including Marco Rubio and Ted Cruz
"Will sanction 11 Americans in response to similar US measures announced last week against Hong Kong and Chinese officials. NPR's Emily Thing, reports. The move comes amid escalating tensions between Washington and Beijing among the American sanctions. Senators Marco Rubio and Ted Cruz, who China has already sanctioned in retaliation for other American sanctions over China's detention and abuse of millions of ethnic Uighur Muslims. Human Rights Watch executive director Kenneth Roth and Michael Abramowitz, the president of Freedom House will also be sanctioned meeting any assets they have in China will be frozen and they travel to China banned. Last week. The U. S sanctioned Hong Kong chief executive carry land and 10 other Hong Kong and Beijing officials for their involvement in the national security law that has been used to prosecute a broad range of dissent in Hong Kong. Emily Thing. NPR NEWS Beijing At the close on Wall
"j d roth" Discussed on Optimal Finance Daily
"This is optimal finance daily episode twelve, Forty, eight shopping for the sake of shopping. By J, D Roth get rich slowly dot org and I'm your host and narrator Monday ms Dan and welcome back to another Sunday edition of optimal finance. Daily I appreciate you being here every single day including weekends and holidays and I'm going to keep this Sunday intro nice and short for him. So let's get right to our post from jd as we start optimizing your life. Shopping for the sake of shopping by J. D Roth of get rich slowly dot org. When I was a boy, my family had a series of dogs, a Saint, Bernard Shitsu, a golden retriever, and a whole host of Matz because dogs will be dogs and because we lived in the country far from anything, our dogs would sometimes begin barking and continue barking for minutes or hours when this happened, my dad would shake his head and say that dog is barking for the sake of barking. borking for the sake of barking started as yet. Another silly father ISM. I'm sure your family has some too but it morphed into something more whenever somebody did something irrational. We'd say they were blanking for the sake of blanking. As most of you know, I used to be a compulsive shopper I lived beyond my means I used credit cards to fund a lifestyle I couldn't afford. Though my wife and my family tried to get me to change my ways. I wouldn't listen to reason, and of course, one day my father told me jd you've got gotTa Stop Your shopping for the sake of shopping. He was right. Shopping for the sake of shopping. As a younger man, I spent to feel better about myself. I spent to keep up with my friends I spent to have the things I felt that I deserved and often I, would spend for the sake of spending. What do I mean? Many Times I leave the House with the sole purpose of shopping I wouldn't have anything specific in mind to buy just wanted to spend money. I wanted the satisfaction of bringing home something new. I decided I wanted new comic books, for instance, even though I haven't read everything already owned, and so I spend a Saturday afternoon dropping from shop to shop I come home with fifty or a hundred bucks in new comics of which I'd never read or other times I'd be in a store and just buy things almost a random. They were things I wanted sure but wanted only. In the mildest sense for example, maybe I thought a voice recorder looked interesting. So I buy it and never use it or I'd grab a couple of impulse items in the checkout line when I, did these things I was shopping for the sake of shopping somehow in some way this spending made me feel better. It was the act of shopping itself that made me feel good about myself. Well obviously that's not sustainable. It's no wonder I found myself in debt and that I stayed there for so long it was only as I began to control my urge to shop for sport that I was able to start digging out of debt. Now good habits are ingrained. I find it difficult to go shopping. Even when I need to it used to be away for me to feel better about myself. Now I derive satisfaction from other activities like exercising or learning Spanish. That's not to say that I never make impulse purchases because I do but spending is no longer a way to boost my self esteem. High Fidelity. It has been a long time since I went shopping for the sake of shopping. I intentionally steer clear of recreational spending. But last week my friend Paul dropped the line to see if I wanted to go record shopping with him against my better judgment I agreed longtime readers know that I'm something of a luddite though I love the bleeding edge of modern technology I also cling to the past I have a record player actually three to are still at the house. With Chris and hundreds of records that I've acquired over my lifetime despite the advances in technology I've always had a record player since I was five or six years old. For a long time, it was tough to buy new records sure I bought lots of old vinyl at garage sales and thrift stores. But new albums they just didn't exist. Well, that's changed over the last few years. As people like Paul rediscover the joys of Vinyl. There's a growing market of old fogies like us who actually enjoy the knicks pops the impart a sense of nostalgia. So Paulin I headed out on Thursday to some record shopping we visited a handful of stores to leaf through the record bins looking for black gold he walked away with several treasures in the olden days I would have done the same this time though I was proud of myself even though I was shopping for the sake of shopping, I was smart about it. One I shopped from a list before we left I made a list of a few albums I wanted to buy and I stuck to that list two. I didn't let myself get caught up in the emotion of the experience I was having fun and in the past that would have been a recipe for disaster the fun would have made me want to spend more and that would have led to shopping momentum, etc. this time I kept my emotions in check. Three I ate I some of you may think this is silly but I'm one of those who tends to overspend when Hungary on. Thursday. I was ravenous as we set out I. Made sure we stopped for lunch before we entered a record store and I'm glad I did. Ultimately, bought only one album carole king's classic tapestry which I'm listening to even as I type I spent only three dollars and came home with a record that was on my list ten years ago I would come home with a dozen or more records, most of which would have gathered dust ten years ago I would have spent for the sake of spending I don't do that anymore and it makes me.
July Mailbag with Jason Moser
"The. Multiple answers I'm out Southwick and I'm joined, is always by broke camp. Personal Finance expert here at the Motley Fool. Hey, BRO, well! Hello Alison. It's the July mailbag where we answer your questions and this month it's with the help of multiple analyst Jason Moser. Should you buy a house now? What is modern portfolio theory and also here Jason's thoughts on a lot of stocks all that and more on this week's episode of Molly fully answers. Jason thanks coming back. you know I mean i. told you you invite me. I'M GONNA. Be here every single time. Thanks for having me back. I mean we appreciate it because we know you're a busy man, and so we do appreciate that you carve out time for us in our little show, don't. Always always make time for those important people in my life rule number one make time for allison and Bro I love. It sounds like a good one to me. Everybody wins. All right well, I guess we should just get into it, so the first question comes from Darren I've subscribed to the full for over a year and I'm really pleased with the service. I would like to know your thoughts about my holdings in Shop Affi- I've bought several times over the last three years, and it's now over thirty five percent of my portfolio and I. Don't know if I should continue holding or trimmed down. What would you advise a good problem to have I was gonna say that exact same thing? That's a good problem have? In a very glad, you have subscribed to our services in your really pleased. That's that's what we aim to to do. We aim to please help you make money and so yeah. This is one of those situations that we will find ourselves in from time to time as investors. A nice problem to have but something you do need to address at some point because it is going to be a little bit different for everybody. In so coming from the perspective of I, also own shop, a Fi stock in it's it's a wonderful investment. It certainly is taking up a bigger. Part of my portfolio a not at thirty five percent where you are. I think for me. It really does boil down to. That sleeping at night test in other words, you need to be able to go to sleep at night without worrying about this kind of stuff, and if you feel like shop, a Fi represents too much. Of your portfolio if you feel like you're overly allocated their, then, you may need to consider pulling it back a little, but now I mean it's. It's I think it's always important. Note you know. It's a big difference between building up a position buying a position to make this size to make this type of allocation in your portfolio. It's another thing entirely to have position grow into beat into becoming that size i. mean that that is that is in a little bit of a different dynamic there, so people all the different ways, some sometimes folks will, they will just sort of looking at it from the house money, concept or you. You just sell enough shares to recoup your initial investment, and then you let the rest of it go. Some people are perfectly fine with thirty five percent. Some people are not. They want a pair back so i. do think you need to kind of figure out what helps you sleep at night I do think that shop by a great business. I think the biggest risk in only shop, if I right now is valuation, just because it's dominating, it's space, but it's not making any money yet, and it's probably going to be a little while until they do so that valuation risk is there, but ultimately yeah I think determine. Where you feel most comfortable with it, and if you feel like you need to put a little bit of that money off the table, and he thirty five percents a lot, certainly very understandable. If they've said something you need to do if you do decide to pair it back a little bit. You've made multiple purchases, so you can identify the shares to sell to manage the tax consequence if this isn't a brokerage account and not an IRA. All right next question comes from Steven. If you are forced into unemployment, you are paying federal income taxes on unemployment payments are not contributing to social security nor to Medicare. How does this affect your future calculation of social security benefits and can one contribute to the social security fund during unemployment to mitigate any adverse effects on benefits, it is a little bit adding insult to injury, but you do owe federal income taxes on your unemployment benefits, and if your state charges has a state income tax, you probably have to pay state tax on that, although there are a handful of states that exempt unemployment benefits, so that's good news. And by the way you, you could have taxes withheld from your unemployment benefits you file. This form called form w four V. if you want, they withhold ten percent, or you can do quarterly estimated payments if you wanNA avoid that big tax bill at the end of the year, but if you're strapped for cash is probably just better to get the money now worried about your taxes later Eh. Stephen notes out. You do not pay payroll taxes. Those are the things that go into social security and Medicare so. So. It could result in a lower social security benefit, however, keep in mind that social security is based on your thirty five highest earning years, so if you enter the workforce at say twenty two and you work until you're mid to late sixties. That's more than forty years where the working so hopefully. If you miss out, if this year is not so good somewhere among those other forty, five or so years, you've had thirty five really good year so that this year won't be that big of a deal. So it probably will be okay. And then to address the last question. Unfortunately, no, you cannot make voluntary contributions to social security. There is at least one academic working paper out there. That suggested that people could buy into social security by like extra credits as opposed to contributing to your 401k, but so far that has not been passed by Congress I had an ex. Question comes from Sam. I heard to stocks discussed on another full podcast. When I read articles about them, it mentions they are thinly traded. I have two questions one I'm sure my position would still be quite small so I think I'd still be able to get in and out, but are there other things I should think about when it's a thinly traded stock and question number two. Is there a certain amount of? Daily volume you like to look for when considering a stock foreign investment. What volume do you want to see to not be? Quote thinly traded stock. Yes very good question in thinly traded stock just refers to the either the amount of shares or the dollar volume of shares that would trade on any given. Market Day and so. The. Thinly traded stock. The the problem is that you may not necessarily able to buy and or sell at the prices. You necessarily think you might be able to in other words when you look at a stock's price and you're looking through the. What what's going on throughout the day on the market, you'll see that did ask spread, which is essentially the bid. Ask spread is it's what someone's willing to pay for the stock versus what someone is asking to be paid for the stock? Because you know you have a buyer and a seller on on in every transaction they're. Normally most cases, these business business bread is very tiny, the couple of pennies maybe for most stocks because they're. They're heavily traded right there. There are plenty of dollar volume. But there are a lot of smaller companies small caps in particular in in you know a micro cap, specifically that don't necessarily meet these kinds of thresholds, and so you definitely have to be aware of that now I'll go back in time just a little bit, too. When we were running the service here at the fool called million dollar portfolios Roman Romani portfolio that we help manage members, and it was never really a problem, but we did have a condition in there. We were always looking for at least ten million dollars in average. Trading volume total daily volume now understand I'm not saying the number of shares saying the amount of money so basically shares times price, but we're always looking for at least ten million dollars. That wasn't set in stone it. It was an idea for us. It wasn't ever really a problem because we had a very diversified portfolio with a number of different types of companies, but when you're looking for smaller companies, you would've just keep that in mind that did ask. Spread is is something that just because it says the stock is twenty dollars. That doesn't necessarily mean you'll pay twenty dollars if there is a a big spread there between the bid, and the ask in so I think whenever you're considering stocks that have any lighter trading volume or thinly traded stock. Just be sure to use limit orders. Limit Orders of let us stipulate the price that you are willing to pay for or that you're willing to. To accept a if you're selling a limit, order is just a really good way to protect yourself from any unwanted surprise thinly traded stocks. You might not always necessarily get them when you want them, so you might have to lead that limited are in there for a little while, but but a limit order is a great way to protect you from any unwanted surprises. Next question comes from Randall. I'm in my late thirties now, but earlier in my life. I was very very bad with my money. Collection Calls Welfare and bankruptcy or not strangers to me. I've been at the bottom then I met the love of my life, and she convinced me to turn things around ten, and a half years later and I have done a complete one eighty, I took control of our finances rebuilt my credit and started investing and listening to all you find folks all. I opened it investing account with the goal of saving and building enough a down payment on a home. I'm happy to say we've now reached that goal. I recently sold at a profit because I didn't want that. Money tied up in the market. If we are close to needing it for a house, but now that we're here, I'm not sure what to do. We currently rent a basement apartment and our neighbors general living situation are less than ideal to put it mildly. So, we're champing at the bit to jump into the housing market that being said the experts have been calling for a drop in the housing market for a while, and that was before the pandemic hit now I'm worried that if we buy right away a year or two or three from now, interest rates will spike, and we could be put in a difficult situation. I live near Toronto. Canada or the housing market is already highly inflated in relation to the rest of the country should I be worried? While Randall first of all congrats on turning your financial life around love hearing success stories like that so good job on that. So I'll start with my standard answer with the rent versus buy decision, and that is just pull up spreadsheet and compare the all in cost of renting, including what you could earn on the money that use for down payment versus the all in cost of buying including the opportunity cost of putting down payment as opposed to having invested as well as insurance and taxes and maintenance, and all that stuff and project, where you might be in five to ten years based on various scenarios on what happens to stocks, if you. Rent an invest the down payment versus what happens to? What you'd look like depending on where home prices go. Generally speaking. If mortgage rates go up, that could way down on real estate prices we did see mortgage rates. Go Up for a bit a few years ago, but the housing market did find, but you could certainly envision a scenario where rates went much much higher, making houses, much less affordable and prices would have to adjust. But I don't expect that to happen anytime soon. I think we're. GonNa have low rates for awhile, but beyond that I don't know I've given up trying to predict where interest rates are going or even paying attention to people who try to predict where interest rates are going, so who knows? That said since you live in Canada. I thought I'd check. In where rates are these days and I and I got a brief reminder that things are actually different in Canada so I did a little bit of research. And then realize I had reach out to someone who knows, I reached out to Canadian Motley fool analysts Jim Gillies, and he had some thoughts so first of all just for you non-canadians out there. It is really different so in America. We get this thirty year mortgage than we have the same payment for thirty years. It's fixed. They don't have that in Canada. What's the most common is a twenty five year? But only the first few years or fixed. And then adjusts so in that context you can understand why Randall is worried about interest rates going up because over the next depending on which alone he gets the most popular is a five year fixed, and then you basically have to go get a new loan probably. So that put that in context, a little more, but also Toronto, really is crazy expensive. Vs from the end of last year that put it as the most overvalued real estate market in the world behind Munich. As Jim pointed out in our call here in the US we had our housing peak in two, thousand, six, two, thousand seven, and then we had what he called a reset, which is basically prices came down significantly candidate and have that slight downturn at home prices, but then they just kept on going up, so it really is different there, so when Jim explain all this to me, the difference in mortgages and the difference in home prices. Frankly he was inclined to say to this guy. You Might WanNa rent for while more and see what happens, but he also had the good advice of okay. What if you buy in prices? Come Down Fifteen percent twenty percent. What if they come down to a point where he upside down? You owe more than the home is worth. Are you okay with that? If. You're okay with that. Maybe it's okay to do that. But it certainly sounds like dicey situation than if someone were telling me like I'm thinking of do this in Dubuque Iowa or something like that. couple of other differences. In case you're curious about Canada in the US. Your mortgage is portable in Canada south. You Buy A. Get the five year mortgage, but then move get to take the mortgage with you for the next house and interest is not tax deductible. US Look at you, Robert, broke? Camp Can Canadian real estate experts there you go. Next! Question comes from Chris. I was on twitter the other day and saw that one of your contributors Brian Feroldi tweeted that he doesn't believe in a long list of technical trading terms and then modern portfolio theory. Can you help me understand what not believing an MP? T with mean this? He believed that diversification doesn't reduce risk. Also every financial adviser I've ever talked to his preached empty, so I would love to hear the counterargument. Jason you're not Brian for all the. Question I am not Brian for all the do get the talk of Brian Pretty good bit though. I I must admit I. Don't know what he said here in regard to modern portfolio theory and all of these technical trading arms. But I think I can take a guess. Generally speaking I agree with them, and I think you could sit there and look up the portfolio theory in you know read about it as much as you want. Just go to google modern portfolio theory, and you can dig right in there, but in a nutshell ultimately, what modern portfolio theory is the intention behind it? It's meant to reduce risk while maximizing returns. It assumes that investors don't like risk. They prefer less risky portfolios to riskier ones in order to achieve a certain level of return so right there. I kind of kind of lost me right there because I don't believe that every ever investors risk averse I think some investors have a very. Healthy, appetite for risk, and frankly I would say I got a pretty high tolerance for risk when it comes to investing, made it just because of what I do for a living but I. You know to me I like having that trade off least unhappy. Happy to take some risks there. If I feel like that upside, it's going to be potentially worth. So with modern portfolio theory, it introduces a lot of fancy math in the form of variances and correlations in order to come up with this. Quantifiable, investing strategy that ultimately helps reduce risk while allowing the investor to achieve. Certain returns in. Maybe it works for some not I'm not dismissing it personally I. Don't use it, I don't personally subscribe to it I. Don't need it. I think honestly for us. In a really believe it's extends to to most people in our full universe is that is individual investors I think a more meaningful way to reduce risk. is to just extend your timeline like invest longer. So like Tom Gardner said a number of years back when we were. Working on Motley, fool one basically take your take the time line that you think you want to own any individual stocks you buy shares of starbucks and I plan on owning it for you know five years. Okay, we'll just double it. Cloning it for ten in all of a sudden right there. You've given yourself more time. Time is one of the big advantages we have is individual investors. Money managers don't have that advantage, Wall Street done generally handed abandoned, either, but if you can be patient and just invest in good businesses. That risk really starts to come down over time. There are plenty of studies out there. That show that risk comes down the longer you hold onto those stocks, which into me, just renders modern portfolio, theory, more or less not useful mean on things, not useful for everybody, but it's not useful for me and based on Chris. Question It sounds like a agree with what Brian was saying there. We think I'll add to. That is I agree that risk is really not that much of a consideration if you are saving for retirement. But once you are in retirement man, and just say like you know what the market's not I'm going to extend my time highs in ten years. Because you need to spend money in that situation, I think diversification is important. It's important to have assets that don't always move the same direction at the same time. For some fools. That's just as simple as keeping any money need the next five years in cash, so you're right out any ups and downs, and that can be fine. But I. do think it makes sense to have. A mix of investment so that right now, technology stocks are doing very well, and we hope that continues to do well, but we remember was that happened in two thousand from two thousand to two, and there were down for quite a while anyone who retired in one, thousand, nine, hundred nine, or so it was very happy to have some small caps value maybe a. A little international, some reits to ride out the storm Yeah I think we talk about that often like recognizing where you are as an investor in life, are you in the grow your wealth stage, or are you in the protector stage, because they are two very different strategies, and we're all hopefully going to be in both of them at one point or another right? I personally and still on the grow your wealth stage I. Think we all probably are, but you will at some point get to where you need to focus on protecting the wealth that you've made so that you can then have that money to spend, and that definitely will dictate your investment strategy things that you're invested in and whatnot. Generally speaking I do like the idea for people who are just risk averse and have this notion that investing is just too risky. I mean the fact of the matter is not investing as far away greater risk like not investing. You will never grow your money if you don't the best, so if if if risk is a problem, I think generally speaking. Along the lines of diversification idea that that bros. talking about him, he just invest in invest in SNP index fund is something that just follows the progress and p. you know you're going to be participating in and if you look at that over the over the stretch of time, their five ten twenty thirty years, I mean that trend does go one way. It, but clearly the older you get, the more you need to start focusing on protecting your wealth, and that will change the way you view things. Right next question comes from Alex from Alexandria if I buy Muny bonds from another state in my IRA. Is it still taxable and Alexander with who we have a bond on and we do have a bunch. I know Alex up super excited about having a bunch on in Alexandria to I can't believe I haven't been there. It's like two miles from my house, but we still haven't been oh i. know because there's a global pandemic going on and we. saw. Alyx if we buy me bonds from another state in my IRA is still taxable. Bro, help him out or her or so Muny Barnes. People Invest Immunity bonds because they're free of federal taxes and in many cases. If you're buying bonds issued by the place you live, they might be free of state and local taxes, so that can be doubly triply tax free. That's why people buy 'em. There are some times, however that if you own immune, abound outside of an IRA. Pay Taxes and this surprises some people. There's something called the minimum tax. If you buy immunity bond at a discount, and then it matures at par. If you buy a distress, Muny bond for like you put an eight thousand dollars, and you sell it later for ten thousand dollars as a capital gain. You'll be taxed on that. So, there are some times when you would pay taxes on media. Now, Alex is asking what if it's an IRA? Do I have to worry about paying tax interest. If it comes from another state and the answer is no, you won't have to worry about that. The only thing I would say is. Generally speaking immune bond already has built in tax advantages, so you wouldn't keep it in an IRA, unless there's the example of the stuff I was saying previously like for. It's one of those exceptions when him UNIBOND would result in taxes than you might WanNa keep it an IRA, but generally speaking. If you're going to buy Muny Bond, keep it out of an IRA. Next question comes from Boone. I just did my first. Roth conversion and looked at that old account for the first time in. There was the expected dividend producing fund I remembered, but there was a stock chesapeake energy that I had completely forgotten about since I purchased the stock in two thousand, six fifteen. It's down way down like eight point five percent off the purchase price. What should I do with it now? It's in a tax deferred accounts so I. Don't think the loss is realized until I. Start to pull money out of the account and that might not. Not Be for fifteen years current value of all my shares will be about one percent of the value of the account after the conversion. Do I sell in the very little value? I had left and depend on E. Trade to keep up with lost for me or should I hold on based on the slim chance. The stock will be worth more in the next ten years. Oil Stocks do act unusually on occasion, only oil stocks. Stock everything else makes that usually. Chesapeake has been really. Interesting Story to follow and frankly. I don't I. Don't know that I would look at it today. As a business that I'd WANNA own so typically if I. You know I think it was yet idea. Didn't sound like a position are actively building united investment didn't work out. I mean that that happens to all of us. We don't get them all right. We have a philosophy here at the full. A lot of do we like to? Water flowers and pull the weeds, and that's just a nice way of saying. Add to our winners in to get rid of losers in. This I think is more than likely slated to continue being a loser I mean. Chesapeake has lost a lot of value. In it does sound like based on when you purchased this, these is absolutely busted I mean. There there are all sorts of reasons to sell one of them is if you thesis busted and the reason why you invest in the company is is no longer the case, and I would he probably is the case with Chesapeake so to me like you know, you could sit there and let it go, but but what's the goal trying to get back to even, or are you trying to get back a couple of bucks for me a lot of times? I'll I'll take a little opportunity here and there to just go ahead and pull those weeds sell it. Be Done with it. In even though it's just unique out a little bit value there, you can still take that money and do something more productive with it. So. Yeah T to me. I can't tell you to buy or sell obviously, but I can certainly understand. Selling in this case, but I you know. As as oil and natural gas energy can can turn around. This is going to be one that has a lot of headwinds in in. You might be waiting a very long time to to get any of this money back. I point out here that I it seems that maybe boone has a slight misunderstanding of how taxes in aries work because he talked about realizing the loss when he takes the money out and trade keeping track of the loss for him, it sounds to me that he thinks that he can write the loss off whence he takes the money out. That may not be the case, but just to be clear. One of the great benefits of an IRA is you don't pay taxes on the gains, interest and dividends from year to year. But. One of the drawbacks is. You can't take a capital loss on that as well so there's really no no way to benefit on your tax return from this loss. Next question comes from Benjamin. You recommend seeing a fee. Only financial adviser for check in every so often I know there is the Garrett planning network and others to help find an advisor. But what questions do you ask? And what answers do you listen for when trying to find one that is worth his or her one hundred fifty to two hundred fifty per hour. So I would say start first with asking yourself some questions. What are you looking for? You could go for the whole launch. Lada where someone is managing your money analyzing retirement plan helping new save and a five twenty nine. Maybe even doing your taxes with some financial planners do help with the state planning, or are you looking for something more targeted? You just want advice about am I saving enough for retirement, or are you close to retirement? You're like I just WanNa make sure that I'm doing right when terms like choosing my Medicare plan and claiming social security at the right time, so first of all just be very clear of what you're looking for. Then if it involves investments in any way, you WanNa, make sure that you find someone who is at least in the general same area philosophically and I say this, because many financial planners are hardcore index. And if you come to them as a motley fool, listener member with a lot of individual stocks. They may say okay. I'll give you some general asset allocation guidance, or they'll say I don't care if you like to pick. Stocks are not my advises, sell the stocks and go to index funds, so you want to make sure that if you're gonNA, ask for any sort of investment. Advice that you wanna find someone who's someone somewhat at least aligned for what you're looking for. Once, you've got that then. Just asked some of the typical stuff. You might expect so credentials certified financial planner. Are they a CPA either their personal financial specialist. How long they've been in the business. There are lots of people who. have not been in the business very long. Even though they're not young people, a lot of people choose financial planning as a second career, which I think is great, but just because someone may be look like they're in their forties or fifties. Sixties doesn't mean they've been in the business that long, and you WANNA. See if they've worked with someone like you right so if you have. Maybe. You have a large amount of wealth large income huge portfolio. You WanNa make sure that they have experienced with dealing with those issues, but on the flip side to if if you have, are you know middle income, decent size portfolio, but nothing too complicated. You don't WanNa. Go to someone who's used to dealing with someone who's wealthier partially because those people charge a lot more. You want to find someone who's kind of a little more lined up with what you're doing. Then make appointments with three folks. All of them will do get do free. Get acquainted means, and you're just looking for someone who you feel comfortable with. Since, you mentioned Garrett Big Fan of the Gary Planning Network and other is is not for the National Association of Personal Financial Advisers. But Garrett on their website has a how to choose an adviser section. Just Google attitude visor Garrett Planet Network has a great chapter from a dummies book that they wrote about how to choose adviser, and they have a good questionnaire that you can print out in US asking lots of good questions of financial planner. It's tough. Choosing a financial planner like my mom just went through that Bro! Is You know and she didn't really have a lot of options in Boise Idaho. Maybe two and one of them, she I never called her back, and never got back her, and the other one was just so busy just so busy, and just she just never. It's it can be rough. Finding a financial planner can be I. Think what we'll see is one of the consequences of this. Of the coronavirus pandemic. Just, like we are all used to working from home, many financial advisors and financial planners an now working from home. So in what they're doing is they're becoming licensed in more states. So, if you are more comfortable, working with someone over zoom remotely I think you don't have to stick with someone in your area. You can go beyond your locations, but you know some people don't feel comfortable that if if they're going to have someone managing their life savings, they want to be able to meet them in person. That's just a personal choice. All right next question comes from twitter. Is that right from sully what I hear? Okay? I just listened to the episode mentioning Your Weakness Two. Shopping carts and Tj, Maxx that me or you Jason. Accused me. Thoughts on the stock. If I had a war on Amazon, basket would be Costco TJ maxx Home Depot tractor supply. What would be your basket against online retail? That's funny. Well okay, listen I wouldn't have basket against online retail, because online retails where it's at. The whole idea. The whole idea behind the basket approaches to find a long term trend that you feel like the world is headed toward and so the war on cash basket, for example that was always one about people using cash war, traffic payments now with that said I get the spirit of the question some going to answer it because I do like some of these ideas. And I I would definitely include Costco in their in Home Depot's well. Home Depot gets a lot of my money. Doesn't, but they have a very loyal fan base of customers that just are happy to renew year in year out. So I love those membership models there, so costco and a Home Depot for sure you know I'm going to give a little shout at my wife Robin I. Know that she would approve of my adding target to the mixer. She hasn't been raving about targets APP and ordering on the APP the able to go to the store. Just pick it up right there I've talked with Ron Gross on more than one occasion about target and how this really has. Become a twenty first century resale right they're doing. They're doing everything online and in physical stores. What they call Alma Channel and then my fourth and I'm GONNA. Take this. You probably aren't expecting this when Alison. I'm GonNa Shock and all you. I'm ready. I'm ready Alta. We're going. Make up my I know my daughter's love. It ugly ugly Mug like this. What do I know about makeup? Tell you what. Get! A House with two daughters and a wife. That's what I know about make. There's a lot of it in an Ulta is a really really good business. They actually have a very nice diversified revenue stream. They've got the salon a`dynamic of the business which encourages people to go there they do have an online business. They have an augmented reality function there at where you can actually like. Try things on makeup to see how it looks. Mary Dillon just a phenomenal other adults of that's my fourth, their Ulta but they I appreciate the spirit of the question I like the idea I'm not saying this is the basket. I'm not tracking this basket in a not a not backing this basket, but in the spirit of the question if I had to develop. A basket, such as this one I think it'd go with those four. Yeah, I mean I guess you just have to think about what retail out there is something that you would still physically go to. Because the actual retail experience is being in the space is the experience and what you're there for? And I know I mean before Corona virus we I would go to target and just just couldn't believe how much money I had spent from walking through a few of the aisles. TJ Max is just a phenomenal business I mean what they've done through the years. Is really capitalized on the nature of the business, the advantage they have in that treasure hunt kind of nature like you go to TJ Max, maybe not necessarily looking for something, and then you end up finding a lot of things, and it can be a little bit lumping at times, but but generally speaking like management's a very good job of running that business, and they know how to exploit the advantage of experience. I think they're online game. Though I think they could probably get something going with online, and they just have not have not yet and so I. Haven't since Corona Virus for example. I haven't spent a single dollar there, but I continue to still shop at. Home Depot I. Think Yeah! We still shopping at home depot because we're doing. You know you gotta buy lumber somewhere. And I know my grandparents out in my my inlaws out in rural Virginia. They love tractor supply store, but that's not. That's not in where we live, but. Still New deck at the house there allison. I mean you, can you see? A big exposed beam behind me and some drywall work that needs to happen. Have lots of drywall work that needs to happen now though. Yeah Anyway get to that. All right next question comes from Matthew. I got married to my amazing wife nine days ago in a small Kobe nineteen wedding in our front yard after we postponed it from its original date in April all. It was definitely different, but still very special. My question is in relation to this wonderful event. My salary has been at a level that has allowed me to fund a roth. Ira I love the optionality of it, but after marrying my bad ass, wife are combined. Salaries are now over the limit that would allow me to fund the Roth. IRA does this affect occur immediately? Do I need to now open up a traditional. IRA and begin funding it or do I have until the end of the year. Matthew wants a Roth Bachelor party one last. Well Matthew I have bad news. When it comes to most things in taxes, your status and your age and things like that depends on where you are on the last day of the year, said if you're married on the last day of the year, you were considered married for the whole year. So that means if you contributed started contributing to a Roth IRA for twenty twenty. You need to call up your brokerage. Firm and re characterize that as a traditional. Now don't have any other traditional IRA, as it's very easy to do the back door, Ross which we've talked about before you can just google it or even when you call the brokerage, just say I want to do the backdoor. Roth and they'll tell you what to do. If, you have other traditional IRA as you can still do. It just becomes more complicated and you'll probably pay more taxes. So you, but you may not be totally out of luck and I should say that's only if you have a traditional IRA doesn't matter if your wife has traditional areas. One exception by the way of of what I just said. In terms of tax status and last day of the year is distributions from retirement accounts before it's age fifty nine and a half, you actually have to be age fifty nine and a half to avoid that ten percent early distribution penalty, unless some of the many exceptions that are out there exist. Right next question comes from Warren Warren Buffett. Maybe I don't know that's why I was thinking. He's asking about coq, so maybe maybe. Once James Opinion on coke. By? Or hold? Wants to now. I'd give buffet night give. Kiesel Warren of the same advice and I would say. For some I'm not buying it. Not Buying it I'm not holding it if I own it. I guess that means sell it. Even Atlanta Georgia person like you i. feel like it's almost sacrilege. I am pretty close to probably not being ever even invited back. But the facts are the facts. Okay, I mean you do have to look at the stock itself has been ain't bad stockton for the last five years. I mean I do understand why when you look at it what they do, I mean they have. Four hundred master brands, and less than fifty percent of them are the big global brands that are actually responsible for almost all of their revenue when I say almost only ninety eight percent, so it's a business. It's very reliant on on. You know a small portfolio of really successful grants. The problem is now. We've always talked about cocoa beans such a great distribution story and that's true. They've got a distribution network. It's just phenomenal, but the problem is now. They're what they're distributing is is being seen as not so good for you in so you're seeing them. Have it into to essentially pivot away from what you know brought them all of the success for all these years. Years in soda and that that's not going to change I. Mean you're always GonNa have people to drink soda? People are not to drinking as much soda going forward in the numbers of just kind of the kind of shown that through that through the quarters in the years of Coca, Cola and Pepsi Pepsi. Has the salty snacks division, which I've always been very. Impressed by I, mean I love a good Cheeto, and so I mean anytime you can throw a bag of those cheetos in my Patriot Amok GonNa, turn it their coq. Interrupting, but I think this is also very important point. You tried the Jalapeno White Cheddar crunchy cheetos. The White Shit or so. I've tried to Jalapeno ones but I've not seen the white Cheddar White Cheddar Jalapeno crunchy cheetos. Don't get the puffy. The poofy ones are not as good, but the crunchy white Cheddar Jalapeno Cheetahs. them by them. They're amazing. I have to back. Pain you. I'll get those next time. I promise I, mean Eh. One. crunchy wants the puffy ones, so that people won't you're not? You're not seeing poopie. Who using poofy Joe Copy? We'll be Coca doesn't have that dynamic of their business. They don't have that dynamic to their business, and they've suffered from that Pepsi's Pepsi's outperform coca-cola over the last several years. It's not safe. Pepsi or coke get it back. I'm sure they probably can. But what I am saying is I think there are a lot of better ideas out there, and so I wouldn't be putting new money into Coca Cola and frankly if I did own it. I probably would look at selling it and you know if you've got a beverage company, maybe own starbucks. It seems like the science coming out in support of coffee, right? It's coming and telling you that these sodas. They're gonNA. Make you fat. Coffee, it could extend your life. It could help you live longer. SMART Mexican looking this a starbucks as well is. That sounds like study from the copy roasters of America. Do! Something that Chris Hill sent me the other day. that. We sleep at night. I'm glad I've been drinking coffee as long as I have God knows what I would look like otherwise. You're a good looking man. Rick. good-looking next question comes from. A. I'm trying to save money for my kid's College. Fund while the five nine is a great option. I'm limited to investing in mutual funds, which means at best I'm going to get what the market gets assuming I do some sort of low cost index fund and I be a capital F. Fool investor have been doing much better than the market in the last three years of being a member of. Of Stock Advisor Enroll breakers, even during this pandemic mess by listening to every full podcast and following David and Tom's and yours and every one else's in the full universe. My portfolio of about one hundred stocks is up here today. Thirty percent to the market's down five percent as of day as of today weighed down by three sluggish five to nine plants that are also down five percent each. I feel like throwing away money by using the five to nine, and not being allowed to select my own great companies in which to invest. What's more, my understanding is that the five to nine does not count as an asset for the kid when applying for student aid, but the coverdale does. So I come to you with a simple question. Can I have my cake and eat it, too? What if I wanted to use the coverdell to buy individual stocks? Until the child is nearing college? At which point I then converted to a five to nine. This allows me to get better returns and avoid it being an asset for financial aid and get the favorable tax benefit. So, chose this question, because first of all Dune does a good job explaining the benefits of the coverdell over the five twenty nine, you can buy individual stocks. You can buy and sell them all day long. We recommend that, but you can. Whereas with the five twenty nine, you can only make two changes to the investments a year, and it's all mutual funds. So. That's you did a good job of explaining that. I will point out with the coverdell. It's gotta low contribution limit of only two thousand dollars a year, so for some people save more for college, but they can max out to cover it out, but then put the rest in a five twenty nine. One thing that doomed does not have quite right. Is The financial aid treatment the financial aid treatment? Coverdale's and five twenty nine is identical. They're treated as assets of the parent, not the kid that is favourable from a financial aid perspective. It's not negligible doesn't mean it doesn't have any effect on financial aid, but it's better than an asset that is owned. By the kid. He can. Transfer money from the Coverdell to the five twenty nine. If for some reason, he decides to do that, but you can't transfer it. The other way around so were convinced to try out the covered. You have money in a five twenty nine. You can't move it from the five twenty nine. To the coverdale. What other interesting thing that he pointed out is that he is doing very well with his investments, and he owns about one hundred stocks. We get this question a lot. Either on the show, or on the full live that we run every day for members of full services, and that is how many stocks should I own, and if I owned too many are not just owning index fund watering down my returns, but here's an example if someone owns a one hundred stocks is still crushing the market. Idol last question comes from Cameron thoughts on the valuation of Stone Co in light of the corona virus for a fragile country like Brazil. This could be the tipping point after so many other headwinds. But how does that affect stone? coz Business Jason I. Don't even know what Stone Co is. What is still business? Yes, don't Coz a payments company that's focused on Latin American markets in Brazil and particular in so I guess it could be. Draw you can draw a parallel to to a with square through pay pal at, but generally speaking I mean it's payments. Company focused on Latin America. Primarily Brazil. Is the big money making market kind of like Marco Libra, they're. In I, I, it's a it's. A NEAT opportunity, gained a lot of headline recently, when and it was, it was seen that Berkshire hathaway. Warren Buffett's company Berkshire hathaway taken a five percent position in the company, which is pretty considerable i. Think in the near term. You have to acknowledge the fact that. They're gonNA, be some real headwinds in in Brazil particularly because of the pandemic I mean. The flip side of that is role in same boat kind of in that regard. The entire world is dealing with it, so it's not specifically you know it's. It's not particular to one economy or one country some. To get hit harder than others I, do feel like Brazil. Be at a place where they can recover from this given You know some of the other businesses in the area. I mean that that that I think is. Who knows ultimately how? That's GONNA shake, but generally speaking. I think the move away from cash towards cashless. Transactions in and financial software that's not stopping if anything, this hastens that which which is what I think, Cameron's talking about there and for a company like stone. Co, neither are other companies in the space pags bureau in roquetas libra to but you know moving money around is a big big market opportunity, and there's nothing that says they won't be able to expand well beyond the Latin American markets, too, so I I'd say cautiously optimistic I mean I
What To Do When Stocks Go Down by The Finance Twins
"Twins dot com. If you're wondering what to do, when stocks go down, you're not alone. This is a question. We've started to get asked more and more. The stock market has been dropping and everyone is afraid that the incredible market performance is going to slow down and their 401K's will lose a lot of value. So what should you do with your investments? When stocks go down, the short answer is nothing. Don't change a thing. When the stock market drops, and the prices of your stocks go down. The problem with doing nothing is that it's hard. It goes against our natural instinct and desire to be proactive so that we aren't the last to move. Buy High and sell low is the mantra of investing right. Everyone wants to react when they see their investments lose value. When the stock market drops on the other hand. They want to invest more. When the stock market is shooting up, the problem here is that it's impossible to accurately time the market consistently. Don't be fooled by randomness. The research shows that this emotional desire to try to time the market by trying to buy low and sell high actually hurts investors, according to renowned Princeton economists and CIO of wealth, front the behavior. Behavior gap between the S. and P. Five hundred and the average investor returns may be as large as five percent annually over a twenty year period. What the data shows is that most investors will follow recent returns so when the stock market is going up, more money flows into stocks, but when the stock market drops, money will flow out of the market by reacting to performance. Investors are actually selling low and buying high the opposite of what they're trying to do. Won't I be protecting my investments by selling when they are high before their value drops. The problem with this train of thought is that no one knows when a stock has hit rock bottom or has truly peaked. If you knew exactly when to buy or sell, you'd already be a billionaire and would be on a private jet on the way to Paradise. Right now at least what we'd be doing. In an article by Hoffman at all, it is reported that investor risk tolerance decreased during the worst months of the two thousand eight recession. This highlights the emotional reactions taken by investors and the importance of sticking to your investing strategy. If you felt confident investing ninety percent of your 401k or Roth, IRA in stocks and ten percent in bonds when the market was strong, you should stick to your plan when the stock market drops. If you panic can sell, you will only hurt your investments more. So if my portfolio is losing most of its value, I should sit back and watch it drop without changing anything. For the long term investor, this is the perfect strategy. You want to minimize your emotional impact on your returns. If you are investing for the long term, which is what you should be doing know that your portfolio will recover with the markets. If you sell your investments, you will not have as much in the stock market when the prices pick up and you'll be kicking yourself. According to Dalbar is twenty fifteen report, the average mutual fund investor was outperformed by the S. and P. Five hundred by over three percent in two thousand fifteen. But how can you be outperformed by the S. and P. Five hundred, when you invest in a total stock market index fund that tracks the S. and p. five hundred, the answer is because people buy and sell throughout the year in hopes of timing the market, buying and selling based on what the market is doing prevents you from fully capturing the total market return. When should I invest? Should I wait to invest my money when stocks go down or we go into a recession?
"j d roth" Discussed on Oxford Road Presents: The Divided States of Media
"Switching gears though we do have a final segment at the Roth affect called. Now you know where you get to teach the audience something new and not that you haven't taught us a lot new already we just happened to be greedy. So Dan, what are we learning in are now you know seconds Okay. So one piece of Trivia that I think we should be thinking about over the summer as we celebrate our independence..
"j d roth" Discussed on Oxford Road Presents: The Divided States of Media
"You know the the Carol Roths podcast is going to be a hit and we need to be a part of that right and so that was what we're able to do. We were really able to kind of do our all of our focus group you know was solved when we had one advertiser test out the Adam Corolla podcast or the. Leo Laporte Podcast, and saw that it was it was good. That was all the data that we needed. Everything else could be figured out later and makes a lot of sense up since we're talking about marketing and finding customers as I talked to small businesses across the country and frankly around the world and I ask them, what is your biggest challenge I'm sure it is no surprise to you that it's always finding customers, which is just sort of a fancy way to say marketing So this is so squarely in your wheelhouse, what advice do you have for the small business owner who says I'm just struggling finding the customer? So. First of all I think that. There's there are a lot of layers to peel back on that onion because it may be finding the customer When you think it's finding the customer. But but if you know that your product is sound if you know that there's true market demand for what you're doing and you have a a competitive reason for being if you kind of have settled that in your mind and you're not just a you know piling into a crowded industry. Without any type of vantage So so presuming you have crossed over that threshold I think that one of the key things you can do is. Is Really Align yourself with content that has influenced and his opinion driven. Now, one more disclaimer look everybody's GonNa go on Google and facebook I because they are lower barriers to entry You know you can list yourself on Google and really control your exposure so that you can turn it on, turn it off, dial it in in real time in a way.
"j d roth" Discussed on Optimal Finance Daily
"I'm going to keep this Friday intro nice short for you today. So let's get right to it as we start optimizing your life in praise of financial resilience by J D Roth of get rich slowly dot org. I had lunch with my friend Craig. A few months ago Craig's an architect and he took me on a tour of his company's offices. The cool thing about this building he told me is that it's especially resilient. I could tell from the way he said it. That the word resilient meant something a little different than what? I might expect. What do you mean I asked? Craig explained in architecture. Resilience refers to structures ability to return to its original state after disturbance say strong winds caused a skyscraper to sway or an earthquake shakes house if the resilient those buildings move with the outside forces but then returned to normal when things calm down I said when I talk about personal finance preach resilience. Sure he said resilience is a good thing. Both in buildings and people ten years ago when I was still struggling with money my finances were not resilient. I had no savings and I was living paycheck to paycheck on fifty thousand dollars a year when even small things went wrong such as car trouble. I found myself in crisis mode. How would I pay to fix the problem? How could I meet my other financial responsibilities when I began to turn things around? One of my first actions was to set aside a small emergency fund of five hundred dollars to cope with the unexpected. This idea promoted by Dave Ramsey and many others built some resilience into my budget allowing me to cope with minor. Crises as time passed and my financial situation flourished my ability to bounce. Back from unexpected blows improved. This was partly because having more money gave me more options but it was also partly because I adopted an internal locus of control accepting responsibility for the things that happened to me in life instead of waiting for someone or something else to fix problems. I decided I would fix them myself. The national economy versus your personal economy over the past five years. I've come to hate the phrase in this economy after the market crash in two thousand eight. The mass media seemed to adopt the notion that we're weathering an economic storm. That simply will not stop even today. Despite the fact that most economic indicators are positive there are tons of articles built on the premise that the average person is being buffeted by forces beyond her control. I disagree besides even when the national economy is bad. That doesn't mean your personal economy has to suffer for a few years now. I've been sharing a metaphor. I've come to love. It's as if each of us is the captain of a ship sailing on the ocean. Sometimes the elements are favourable. Sometimes the Caesar Stormy yes. We can choose to surrender to the whims of the weather. But a smart captain does what he can to prepare for bad weather so that he can steer his ship safely to harbour in short..
"j d roth" Discussed on Reality TV RHAP-ups: Reality TV Podcasts
"It's a blanket. It's a scarf if on Ethan. I don't hair from me. Yeah this is a buffer me too. I love it. It's the sisterhood of the traveling scarf or Shawl or whatever realness It's it's just fantastic. And that's second picture of Parv with the sweater looking thing she just looks. Oh my gosh amazing. And there's little camels on it. How cute I bought this for sure. Are Those yeah. I guess they are camels leading each other. Yeah I don't know if that's a metaphor fall between the hyenas and the lions like where are they on the animals how. That's a good question. Now the camels are above it. They're like no. We don't have time for this. I'm like a camel. I conserve water and you could live live on survivor for miles of Desert Kevin. Is that like talking camel? Is that like talking Lama? Are they similar? I think they're in the same animal family. I'm assuming they both have. I was GONNA say both have four legs but I feel like that's a big family. Mike Similarities. There unjust classify animals two categories. You got your two legs four legs and those are the two animals your regular zoologist. That's me. I've watched a lot of that It was that show. There was a show on Animal Planet hosted by J D. Roth that will give you like zookeeper for a day. I can't remember the name of it now but it was. I used to watch that show all the time and apparently I learned nothing about animals except for how many like how to count how many legs they have the one skill I need. I'm going to give this a buff as well. I'M GONNA give extra credit to Ethan's use of it because I don't know why he felt the need to have a scarf especially in tribal council which meant no. It is breathing at tribal council really and so cold. I used to be so call travel council and then it would rain and if you were far away from the fire even worse. Oh Man Yeah no tribal council. Is it the right? Oh Gosh well then it makes even more sense and it's so big I love that Kirkwood's into the yeah so I I'm trying to figure out when they filmed it would have been the same kind of time period is us. It's warm at the beginning so you can see like it'd be watched my season. I'm wearing a blue dress at the very beginning and then towards the end I have every article of clothing I have on and I own in on in some sort of way because I am still so cold at tribal thing. I love that Ethan has a look here. Like he's got. The sweater is the scarf. He's the he's like rolled up his pants to make makeshift capris. He's got the decay. Chilean esque like very casual sits. Like I feel like I've seen this guy in many New York coffee shops. I know he's ready to like just bro. Somebody at a book club type of deal is. He is ready to drink his wine and talk about. Why the Heck Jessica did not show up for the fourth time. I Dare She Jessica. Exactly like he's like he's he's ready to sell you on his screenplay without saying anything for sure. Yeah talk about a fashion forward individual. Love could make him into a mean of hipster. Ethan like play played on survivor back. When.
"j d roth" Discussed on How to Money
"Joe We're back and we're talking about creating a debt payoff plan. Oh and by the way did you like my my little illustration about the escalator that was a great illustration another one. I was thinking of feels like okay. What about like headwinds and Wins at your back. I was GONNA say an example of You you know when you're up at the T box and you're playing off and getting ready to throw your driver but you've got that strong headwind. It's GonNa be a lot harder than if you had to win at your back true that's true. Yeah that's another great illustration and one that makes makes sense to me. But I feel like most folks have probably been on escalators more often than they've actually thrown a discussion probably true for most folks sadly because disc golf is a great sport. All right. We're GonNa talk right now though about what steps that you need to take when it comes to creating a debt payoff plan. These are the steps that we're going to actually help you to make real substantial progress this year. The first thing that you need to do is to make a list of all your debts. The first step in any plan of action is to get organized and so making sure that you're aware of all. The debts is a really important for step on under path to crushing debt. We've used this illustration before but if you're planning a road trip you're going to make the dots along the way where you want to stop you kind of want to know the layout about how long is it going to take me to get here and there especially the kids like where we're going to stop the P. or we're gonNA stop to eat. There's all these questions that come with the big major trip. That's right and so I think the same thing like paying paying off your debt. Is this big trip and you want to plan the points along the way you want to know. Exactly what's in store so that nothing terribly by surprise. Yeah you don't just throw everybody in the car born to start driving. That's a terrible plan. Look your finger stick it up in the air. Decide which way the we're GONNA go east. We'll see where we end up. Yeah yeah that's not a good way to go so yeah making a list of all your debts helps you at least get the lay of the land and then you need to pick your approach. We've talked before about the debt snowball approach versus the debt avalanche approach in which toine people should consider. We went to a lot of detail on how you decipher. which plan is better for you in episode eighty-six but do you need or just want some more emotional awards along the way or do you just WanNa pay these debts off as quickly as humanly possible while paying as little interest as you can either way you'll focus hard on completely obliterating one on debt while paying the minimums on the others in both approaches? Maintaining a high level of focus. Is the key to success. Could once you know that lay the Land Matt. It's really important to kind of choose which approach you're GonNa take and then sticking to it if you've come up with a strategy do you think is going to work for you looking at the strategy that might potentially work for you and then picking one and sticking to it is going to be crucial to your probability of success. Yeah Joe in one thing I'll say is that I think for folks especially who are listening to this podcast. They're they're thinking noman that avalanche the way to go look at the numbers. Do the math but the older I get. I realized that so much of our money is not just knowing knowing. The correct information isn't just seeing the numbers right because we don't operate as robots. We don't always make the rational decision. Our emotions play such a huge role when it comes to how we handle our money and because of that I think the debt snowball needs to be considered by way more people than it actually is because you are receiving that feedback more quickly. You're able to quickly pay off a debt and quickly move onto the next one and that feels good and and when it feels good. That's something that you'll continue to do exactly the best plan that we can create is the plan that we can stick to yes. It's not just the best plane in theory. It's the one that we can actually accomplish in real life and just quick example Matt for me for a lot of years. I wasn't it fully funding my Roth. IRA and I was just investing a lot more in my 401k. Because it was a lot easier for me to click the button that up. Two percentage point coming out of my paycheck barely felt it it than it was to actually increase automatic draft amount from my bank account into vanguard to fund my Roth and so it literally took more work for you up your Roth. Ira Save versus your 401k. And and really the work is the same. It's the mental hurdle I couldn't overcome and so I think that's a huge thing that we do need to consider wh- what's the easiest mental mental hurdle title for us to overcome and again the plan that we can stick with is the one that we need to commit to so true man all right so now you've made a list of all your debts. Got An organized. You've picked your approach. You you know you thought thought about which strategy going to work for you. The next step is we want you to look at your time line a little bit. This is when you are going to do some math. And you calculate how much monthly income you can put towards your debts and actually figure out how long it'll take you to be rid of it. All it is important to know how long this will take in order to manage manage your own expectations. If you don't take the step you might think you'll knock out your debt. Let's just say by the end of the year and then maybe October rolls around. And you realize that you're not even close us if you are not realistically approaching your debt. Payoff plan it can be easy to lose hope and basically just burn and fill out. It reminds me of our conversation with J D Roth not not too long ago. And he specifically mentioned he gave a very vivid picture of his Co. when he was in the bath yes okay he was like this is how I came up with my debt. Payoff Yeah Plan. I was in the shower. I had this epiphany. He's like Iran out. I didn't dry off. I had a towel around me and I sat at the table for hours and I came up with this plan. What a madman I know? Yeah I I totally picture I can tell you picture. It was maybe two vivid and he said he realized it was going to take thirty six months for pay off his debt after kind of calculating it out and and this time line helped him track progress knowing that timeline helped him have a realistic expectation in mind for how long it was going to take him to be rid of all his debt. And that's really important for us to take in. This process is to map out the length of time that it's going to take us to go from a bunch of debt to no debt yet because that can help us stick with it if we know that it's going to take three years. Well there's light at the tunnel if we have no idea and we just aimlessly attempting every month to put more money towards her debt. We don't have a timeframe in mind. Well then it could just be a little more difficult to actually stick with it. It's like the difference between running a marathon versus a four hundred meter sprint. Like you need. You didn't know the distance because if you start running a marathon a like year running a four hundred meter sprint. Well guess what you'RE GONNA burn out and you're going to completely give up and so having that goal in mind and and knowing that timeframe is so important and there are tools that can help by the way we'll link to those in the show notes whether you're taking the snowball approach or the avalanche approach willing to a tool. Well that can help you as you plug in your information it can give you that timeframe so that you're not just doing pendant paper you can actually plug into a spreadsheet and then you've got brad she you can share it with your your significant other or your partner and it's the perfect opportunity to be on the same page to be looking at the same numbers and it can Kinda Kinda help you out your path. Well you know I'm all about the spreadsheets. You our our buddy. Yeah and so we wanted to take is essentially to create a debt slaying identity. Basically what I want you to do if you're in debt and you're looking to get out of it is is I want you to say to yourself this year. I am all about paying off that debt..
"j d roth" Discussed on Optimal Finance Daily
"The post and start optimizing your life learning to use money as a tool by J D Roth of get rich slowly dot org. It's pretty clear by now that I have a different relationship with money than and when I started get rich slowly. I'm by no means perfect with the stuff but I've become firmly entrenched in the camp that sees money as a tool. I used to see it only as a means to instant in gratification. Here's a tiny example taking a page out of trance book. Chris has been on a crock pot. Kick lately this morning. She tried a new Swiss steak recipe. Can you do me a favor. She asked before leaving for work. Can you make some mashed potatoes to go with dinner. Of course I said I make awesome mashed potatoes. well as the day progressed aggressed. I became less enthused about the whole potato mashing process as you might guess. It had something to do with the Book Though I finished the manuscript last Friday. That's not the end of the work work in fact I've been buried in editing ever since this morning. I started editing. The chapter on housing. I expected it to take only four hours. Instead took seven next. I rushed to start editing the chapter on taxes and insurance but discovered it's packed with problems that need to be fixed a turned instead to the chapter on debt more problems. I don't have time to mash potatoes. I thought I have to edit and though I know this sounds strange it was then I had an epiphany all these months and years. I've have written about the notion of money as a tool and I sort of understood it intellectually. But it wasn't until this moment that actually knew what the concept meant it meant i. I was stopping by the supermarket to pick up some mashed potatoes money as a tool. It's difficult to describe their relationship that I used to have with money. It seemed like the ultimate zimet objective. It was what I wanted yet. I didn't do anything to earn or save the stuff instead. I'd spend it without thinking when I spent more than I could afford to to buy comics and video games. I got a little thrill it felt like I was somehow cheating the system. I know now that the only one I was cheating was me. It took me years to pay off the debt debt that I racked up by cheating now I really do see money as a tool. Monetary wealth isn't the goal happiness is the goal doing the things that make life meaningful info for me reading writing spending time with friends. That's the goal. Money is useful because it can help me. Do these things used wisely. One and money buys time. I think we all understand this abstractly sometimes as in the silly case of my mashed potatoes. Money almost literally buys time. But it's is usually more subtle than this when I think of my retirement savings. I think that every dollar buys me a certain amount of future time with which I can do as I wish to money helps you meet your goals. It helps you do the things that need to get done to us. Another example from my book writing process I've paid to buy books and Journal articles to support my research search as they begin to focus on fitness. There's no question that money helps me better pursue my objectives. If I don't spend on stuff and nonsense I can use money to pursue my priorities. Three money makes life easier. This one's obvious I suppose but you can use money to take away some of the drudgery in life you own a car so you don't have to walk or ride the bus. You might pay the neighbor kid to mow the lawn or in my case I rent office space so I can have a fortress of solitude in which to write for me me. The transition from using money for instant gratification to using it for bigger purposes has been slow on. It took a long time to even realize how stupid I was being. After I became financially self aware it took a few years more to break my old habits though I finally seem to be gaining some degree of self control as I mentioned last week. I haven't used money to buy anything on impulse yet in two thousand ten. That amazes me and I've reached a place in my life where I can buy mashed potatoes from the grocery store. and not feel an ounce of guilt because I know I'm practicing practicing conscious spending eight dollars per hour. Normally I think of supermarket mashed potatoes as sort of rip off for three ninety nine. You get a pound and and a half of Mediocre spuds for four bucks. I could make twenty pounds of homemade mashed potatoes. The taste much much better but was that three ninety nine a rip off today no who was a bargain. That three ninety nine bought me an extra thirty minutes to work on your money missing manual to me. That's cheap. Of course there's just one problem. I didn't actually use that thirty minutes to work on the book. I used it to write this blog post instead. Oh well sometimes things you build with your tools. Don't turn out the way you planned postscript Chris I have eaten dinner now her verdict. These mashed potatoes are tasty. She told me for the record. I was unimpressed. Sir Sir.
"j d roth" Discussed on Optimal Finance Daily
"Passions. And so you can spend time with your family and friends. Remember, my friends true wealth isn't about money. True wealth is about relationships. It's about good health and about continued self improvement true wealth is about happiness. Ultimately, it's more important to be happy than it is to be rich stuff. You just listened to the post titled it's more important to be happy than to be rich by j d Roth of get rich slowly dot org. And thank you once again to design crowd for their support design crowd has over six hundred fifty thousand designers from Sydney to San Francisco ready to help you with awesome, creative ideas. Get the perfect custom design every time it simple just post a brief describing the design you need. Then design crowd will invite its designers to submit and within hours, you'll receive your first design over the course of three to ten days. A typical project will receive sixty to a hundred or more designs from designers all around the world. And then you pick the best design and approve payment. If you're not happy, no worries because design crowd has a money back guarantee. So try it out you can crowd source just about any creative project on design crowd and for a special one hundred dollar VIP offer for our listeners checkout design crowd dot com slash. Finance to learn more and save up to a hundred dollars. When you start your next project. That's d e sl Jian CRO WD dot com forward slash finance or simply enter the discount code finance when posting a project on design crowd, and that'll do it for today. Thank you so much for being here. And as always for being a subscriber to our show, I will be back with you tomorrow where I'll have a post from afford anything. So I'll see there where your optimal life awaits.
"j d roth" Discussed on Optimal Finance Daily
"In a while, dropped by car dealership to see what's available. Take a test drive, even if you don't plan to purchase even practice negotiating with the slick car salesman a word of warning. One danger with these exercises is that you could become dissatisfied with your current situation with your current job or automobile or home, and that's not the purpose of this sort of practice. Your goals are to stay informed to develop the skills you'll need when you do have to make a big move and maybe to gradually build a better life. You just listened to the post titled how and why you should practice big financial moves before you need to make them by j d Roth of money boss dot com. And once again, if you'd like a chance to win a book from us, make sure you're on our mailing list at old podcast dot com. When you sign up, you'll also get some free financial spreadsheets from us, including one that shows you when you can retire as well as a video tutorial, a weekly Email with life tips quotes and more. So for all of that come join our weekly newsletter mailing list at old podcasts dot com. And that is it for today. Thank you so much for listening. Have a great rest of your day, and I'll see you in tomorrow's show where your optimal life awaits. Hello, Haifa. Optimize earlier. This is just Malik creator and producer of this podcast, but also optimal living daily. The show where I read to you from even more blogs, covering finance, productivity, minimalism personal development and more from incredible bloggers like Derek Sievers, zen habits, marketing angel, the minimalists and all the ones you here on this show to Soviet enjoyed today's episode and like taking amazing blogs on the go, come on over to optimal living daily and subscribe to that one too. And together we'll start optimizing your life. You've been listening to optimal finance daily, be sure to hit the subscribe button to stay up to date on each new episode and head till old podcast dot com. That's l. d. podcast dot com for a free gift as well as more actionable tips in resources to help you maximize your potential. Thanks for joining us and remember your optimal life aways.
"j d roth" Discussed on Optimal Finance Daily
"This is optimal finance, daily episodes, six, fifty two. How and why you should practice big financial moves before you need to make them by j d Roth of money boss dot com. And I am Dan your host. This is where I read to you, each weekday from some of the best personal finance blogs on the planet. And if you've been listening for a while, you should already know that we give away books to random people on our mailing list. So if you would like a chance to win one of those books you need to join, it's totally free. Just enter your Email address at old podcasts dot com. That is, oh, l. d. podcast dot com. Now, let's get right to our post. As we start optimizing your life. How and why you should practice big financial moves before you need to make them by JD RAV of money, boss dot com. Kim, and I have rolled into the Denver area where we'll spend the next week hanging out with family and friends. While here. I'm also working with Mr. money moustache to prepare our upcoming workshop for world domination summit yesterday afternoon as we sat in the RV outlining our presentation, Pete and I discussed the idea of practicing big financial moves before those moves are actually necessary. The average person doesn't look for a new place to live until she needs a new place to live. She doesn't practice buying a car until she needs a new car. She doesn't put in job applications until she needs a new job. In other words, the average person is reactive. He makes big moves when life dictates that he make big moves. As a result, he loses a lot of leverage during negotiations if you have to find a new job because your former employer just went out of business, you lose the luxury of taking your time of being choosey. But what if people took a proactive approach instead test-drive different jobs? I like the idea of. Practicing the job search process. Pete said, even if you have a great position, you can get a lot out of applying for other jobs. I have a friend back in Portland who does just that I said, quote, he has a high paying job that he loves, but that doesn't stop him from applying for other opportunities. He watches the want ads for promising positions. When he sees one, he submits an application. If he gets an interview, he takes time off work. He's not seriously looking to change companies. He simply trying to stay sharp and quote at the same time, this habit allows my friend to keep up with what's happening in his field, build a network of contacts and gain leverage for salary negotiations when his practice applications yield job offers. He can choose to take the new position or use the info to ask for a raise from his current employer. There are other ways to use the concept of practice to take control of your career to, for instance, you might conduct informational interviews to explore other opportunities. My friend, Michael is a career counselor, and he calls the. Formation interview the job hunters, secret weapon. Few workers asked for them. Those that do tend to jump start their careers. Never use an informational interview to ask for a job, use it instead to learn about other companies and careers or to pick the brains of experts in related fields. As an aside. I've never conducted a formal informational interview myself, but I have done something similar in a casual way back when I ran get rich slowly. I'd sometimes get interviewed by reporters from major outlets such as the New York Times all my life. I wanted to be a reporter. So after the interviews were over, I'd make sure to ask the reporters about their jobs. I'm glad I did without fail. They'd tell me that I did not want to be doing what they were doing. In fact, they said most reporters wished that they were in my shoes. Here's another example of how certain people might test drive different jobs. When we paused r v trip last autumn to spend six months in Savannah, Georgia, Kim decided she wanted to earn some money, but she also wanted to keep her schedule open. In case, we decided to explore the south instead of applying for fulltime dental hygienists positions. She scoured savannah dropping her resume at his many dental offices as possible. She told him players she was looking to do part time fill in work. It didn't take long for people to ask her to cover for sick days and family emergencies during our six months in Georgia. She had as much work as she wanted, and she still gets calls from people asking her to fill in when we get home to Portland next month, Kim intends to take the same approach there. She'll look for part time fill in work at local dental practices doing so will allow her to test drive different offices, checking whether the situation is a good fit for her and the employer. Perhaps if she finds the right place, she'll eventually accept a full time permanent position. This is a great example of the money boss philosophy in action under the traditional employment model, the employer holds most of the power he gets to test drive the employees, Kim has flipped this model on its head. She's the one. The power test driving the employer. She basically created a new job for herself. She's a substitute, dental, hygienist practice, home-buying, and car shopping. This concept can be applied to other aspects of your financial life. Pete and his wife used it to find their current home. For instance, we already owned a place here in Longmont. He told me we liked it. We didn't need to move, but I kept my eye on the local housing market. What if I could find someplace better someplace more by Qabail when our current home came on the market, we made an offer. It didn't matter whether or not the offer was accepted because we already had a fancy place to live. We weren't under any pressure, but our offer was accepted. And now we own a better home in a better location. Do you think this is something other people should do? I asked absolutely. He said quote, I think it's a great idea. Don't wait until you have to change homes. Keep an eye out for places closer to where you work. Can you move and ditch your car? Can you downsize your home so that you don't need to own so much stuff and quote. I think this is a smart approach, stay satisfied with your current spot, but maybe take one Saturday afternoon every six months to practice the home buying or apartment hunting experience, browse Craigslist to see what's available, attend, open houses, visit other neighborhoods, you'll stay informed on current market conditions and get a good feel for the types of homes available in your area. You can do the same thing with cars. You don't have to wait for your current vehicle to give up the ghost before you start shopping around every once in
"j d roth" Discussed on Optimal Finance Daily
"This is optimal finance, daily episode, five, forty, three. What is financial independence? The basics of F I explained in plain English by JD Roth of get rich slowly dot org, and I'm Dan, the guy who's here each weekday reading to you from some of the best blogs on personal finance and as of a month or two ago, I'm talking about business too. You can hear me narrate articles all about management, entrepreneurship, freelancing, productivity, creativity, marketing social media, and a lot more over on another of our podcast, optimal business daily. That's one of the newest shows in our network, and I took on the hosting duties for that one as well. Justin and Lee were the hosts of that show for three hundred codes, and then they decided that they wanted to implement some of the strategies that they've learned in the articles right from that show. So you can hear me narrate on optimal business daily starting with episode three, oh one. But for this show, today's post comes from JD Roth. And before we get to that, this part of optimal finance daily is brought to you by ZipRecruiter, the smartest way. To hire eighty percent of employers who post a job on ZipRecruiter, get a quality candidate through the site in just one day. Try it for free by going to ZipRecruiter dot com slash oh FD. That's ZipRecruiter, dot com slash oh FT. Now, let's get to our post as we optimize your life. What is financial independence? The basics of F I explained in plain English by J D Roth of get rich slowly, dot org. Nearly everyone I know wants to become financially independent to retire early, but most folks have no idea how to do. So the method I described in this article is simple to understand, although it might be tough to implement. I call it the money boss method with the money bus method. You manage your personal accounts as if you were managing a business doing so allows you to maximize profit and pursue financial independence or any other money goal you choose financial independence occurs when you've saved enough to support your current spending habits for the rest of your life without the need to earn more money, you might choose to work for other reasons such as passion or purpose, but you no longer need a job to fund your lifestyle to achieve financial independence or achieve other money goals. He'd the basic rule of personal finance to build wealth. You must spend less than you earn. Forget the standard advice to save ten percent or twenty percent of your income to be a money boss. Practice extreme saving. Your goal should be to save half of everything you earn and more as. Better sound impossible. It's not most of the advice here had get rich slowly, three point, oh, is built around helping you save half to do so in lead to conduct a three pronged attack, spend less. I minimize spending because a handful of expenses consume most of your budget pursued. These, I and with greatest vigor. Number one, choose a home in an area with a low cost of living reject the advice to buy as much as you can afford, buy as little as you need. Take out a small mortgage at a low interest rate repay it as quickly as possible. Don't be afraid to rent spend no more than twenty five percent of your income on housing and less is better to reduce your use of motor vehicles walk bike or take the bus. If you must have a car by fuel-efficient used model and drive it until it's dead three, be frugal with food, eat out less, be a savvy shopper and eliminate food waste with the money bus method. These won't seem like sacrifices. They'll be trade-offs made to. Pursue a more important purpose. Plus with mindful spending, you'll still have the freedom to spend on the things that matter most to you. Earn more next. Maximize your income. It's great to cut expenses and develop thrifty habits, but there's only so much fat. You can trim from your budget. In theory, there's no limit to how much you can earn on your job is your most important asset treated as such negotiate your salary, learn new skills, connect with colleagues and actively manage your career to become better educated studies confirm that greater education tends to bring greater pay, three, sell your stuff. It'll improve both your mental and financial health and four start a side gig. Make money from your hobby. Take a second job depending on your preferences and priorities. Your path to financial independence might emphasize for galaxy popular blogs like Mr. money, moustache, and early retirement. Extreme tend to promote the Power of thrift. Other people prefer a road to wealth that emphas-. Sizes, income for them sites, like I will teach you to be rich, can prove valuable. Me ending. It's best to do both. You'll have the best results if you reduce spending and increase earnings, your goal should be decreed a wide gap between the two. So aim to save half your income invest wisely. Finally, funnel your prophet into smart investments prophet is the same as savings. We prefer to talk about profit with the money. Boss method take advantage of employer and government sponsored retirement plans. I then route profit to regular investment accounts. Don't get fancy invest in low cost, diversified mutual funds. Ideally, choose a total market index fund such as vanguard's V T S X ignore the news, ignore market, fluctuations, ignore everybody, keep investing during good times and bad. If you can follow the three steps, you will become rich and sooner than you think with your prophet, you'll create a wealth