36 Burst results for "Personal Finance"
Fresh "Personal Finance" from Morning Talk with Martha Zoller
"His personal finances have been bleeding money. Luckily, I've had credit cards and everything else because you answered and said paid yet there's a lot of stuff. Insurance did not pay for an EF four with winds at 170 miles an hour damage more than 1700 homes in cow Ada County back in March. You'll find more news had access Wi you win Looks like looks like the weather will be perfect for Mother's Day weekend. Here is the latest access Wdun forecast sunshine this afternoon Northwest winds gusting to 25 High of 69 Clear 48 tonight mostly sunny 72 Tomorrow 53 tomorrow night Sunday mostly sunny, gusty winds high of 81 Monday. Showers, Possibly a thunderstorm. 75 from the access Wdun Weather Center. I'm meteorologist Tom Wetherby. It is 54 degrees and Cornelia 52 in Buford Sunshine. 53. Gainesville From North George's News Talk. Am 5 50 FM, one of 2.9 Wdun. When you played cast for you could waste more. Hey, Cash. Four players. It's John Grow with great news for 44 days, 444 players will win $444 in the cash 4444 promotion just into your non winning cash for a ticket and cash for promotion, calm and will announce winners every week for 44 days. Will you play Castle? You could waste the Lord. That's the second chance drawing runs now through June eight. So be sure to enter in cash for promotion. Calm Play Cash, four from the Georgia Lottery, please play responsible. Always check inside your ticket, play the Georgia lottery and win big from anywhere with online digit game's over 50 fun games to choose from, and you can also play fantasy. Five. Key. No cash, pop mega millions of power ball on your phone online. You name it play Now. It played. Did you dot com Tune in the WSB Channel two for your official Georgia lottery drawing and check out the play. His club DJ Lottery. Calm North Georgia. It's timeto talk. This is the Martha Zoller Show. Presented by Gainesville. Mechanical on North Georgia's News. Talk AM by 50 and FM one or 2.9 Wdun. Thank you for the honor of serving as your mayor with Atlanta in my heart and Georgia on my mind, Keisha. Well, that was the kind of breaking news last night. It was supposed to happen this morning. But, you know, nobody can think of a secret anymore. Keisha Lance bottoms got onto a call with her. Friends and supporters and two of those people that were on the.
Business Economists More Optimistic About US Growth
"A difference a year could make. While to many of the challenges of the covert 19 pandemic remains, the economic outlook has brightened considerably, and that improvement should help lift the prospects for many Americans and their personal finances between trillions of dollars in federal spending vaccinations gaining traction and Americans essentially emerging from lockdown, US growth this year is expected to be the strongest in decades. It's yes, decades. This comes after one of the most dramatic and devastating economic retrenchments in history going back to March and April of last year, when 22 million jobs were shed. Economists look for growth this year of more than 6%, the most since the 19 eighties. Keep in mind that growth over the long term in the U. S. Has averaged less than 2%. There's not a single quarter this year with the consensus among economists suggests annualized growth of less than 10%. I'm Mark Emmerich.
Elizabeth Westendorf: Traumatics Accident and Career Transitions
"Today. I'm interviewing elizabeth weston dwarf. She is a comprehensive fee. Only hourly financial planner would financial planning. Her interest in personal finance started out of her own mental health journey where she saw the intersection of mental health and financial security and addressed her own financial mistakes. She brings that nuance and compassion to her work with clients. She also writes about her own experiences. An her career change to financial planning on her blog owning the stars. I'm so excited to have you on the show. Yeah thanks so much for having me melanie. I know this is so fantastic. We have been following each other in the blogosphere for several years. Now so super excited to see everything that you've done all the changes that you have made and super excited for you to be on the show. So i wanted to dive right in. I know you mentioned your own mental health kind of started you on this journey to money and i'm curious kind of like once your story with mental health and money. Yeah so i mean. I think that mental health plays a role in everything right wake it affects all aspects of our lives and of course that includes money and so when i found myself out of college in a job that i loved but i was stressed was i was adulting for the first time which was hard And as my mental health suffered so did my finances right. I was looking for quick fixes for quick comforts. Ordered a whole lot of takeout went to the department that was. I rented an apartment. That was too expensive for me. I adopted a second pet. When i couldn't afford that like so many things and then as i realized okay. This isn't going to get better. I need to fix it as i fixed my financial mistakes. I noticed that there was a direct correlation with my mental
Poll: 15% of Americans Are Worse Off Financially One Year After Pandemic
"Than before the pandemic hit the U. S. That's according to a new poll from Impact Genome and The Associated Press, an O R C Center for public affairs research. Overall, 55% of Americans say their financial circumstances are about the same now is a year ago with that, 30%, saying their finances have improved, but 15% say they are worse off. The problem is worse at lower income levels with 29% of those who live below the federal property line, saying their personal finances worsened in the past year, with about that, many also saying they struggled to pay bills in the past three months. I'm least Scylla, Sarah and this is Fox
How To Think Like a Breadwinner with Jennifer Barrett
"We are excited for conversation today. With jennifer barrett's jennifer is a long time financial journalist and she has written for publications like the new york times Wall street journal money as well as newsweek. She is she's prolific as she seemingly everywhere. She's hosted popular personal finance video. Course on mutiny. Talk on the importance of wealth-building she's also appeared on many tv shows as well and as impressive as all that is she also has a new book that just came out That's titled think like a breadwinner which is all about empowering women who want to earn more money so this is going to be a helpful episode for everybody but especially for the working woman so jennifer. Thank you for joining us on the podcast today. Thanks so much for having excited to be here. I really love your podcast. Thanks jennifer and we're glad to have you here with us. And matt we were talking with jennifer before we began the show and jennifer mentioned that she loved crappier. So yeah. we're we're drinking a banana cream pie style. Bureau the show right now while we what we have this combo but matinee. We always drink a craft beer on our episodes. Because it's something that we love is something that we splurge on also being intentional and trying to save well for the future so we want to know from you. What's your craft beer equivalent. Oh it is craft beer. I love it is one one exact same thing. Yes i was just thinking that we could spend an entire episode is geeking out on beers. I am total beer geek. In fact i am looking. I'm not drinking just yet today. But i just splurge on a four pack of mckellar limited series. Yes very good and brewed with beer. Love them we're also very close to which my gosh dangerous because you're in brooklyn urging walking distance from other half and they have some amazing beers. I probably don't need to tell you. I was just thinking they have on called banana pandemic which you might like as part of their pastry series anyway. It's very easy to drop twenty twenty five dollars on a four pack to ease. It's worse than four beers
Interview With Cinneah of Flynanced
"Thanks so much for joining us today. Can you please tell us your name where you're from your current location and the name of your business. Hi everyone this is. I am from baltimore. Maryland but spent the last seven years living in new york city. I am currently into mexico. And i am the owner of finance. Llc so talk to us about all the things so you are twenty six. Now you have another birthday coming up this summer but you have just been like tearing through the world literally and figuratively so. You had a goal of traveling twenty five countries by the time. You're twenty five and also you started this brand financed where you wanted to share about all the good stuff that you're learning as you're traveling and then also like from your formal education so just tell us about where you came from like what. Your background is pleased. Yes so finance. Like you said is truly a labor of love that was birthed out of really my own challenges with personal finance and and how travel was at one point in my life actually causing me to take on financial debt that i didn't need so i'm from baltimore like i said so. I grew up understanding. What it what it means to struggle right. I i know what it's like to Really never feel like you have enough money to do the things that you wanna do But at the same time. I had a very cherished childhood. I am forever grateful for my family for doing what they needed doing. What they had to do to provide me with a safe cherish shot hood and honestly it's through my family that i even developed this. Like wonder less but right. They took on vacations. They encouraged me to apply for youth programs. Right so really. My love for travel and adventure was birthed in in my parents. Home when i got to college and attending a predominantly white institution and ivy league institution. I quickly saw that. Even though i had had one reality growing up in baltimore i was quickly reminded that i was not in the haves pot. Pot right You know being in college and being surrounded by folks who literally had so much wealth fat their families names were on the buildings that we were having classes in right and an understanding what it meant to have legacy and just understanding the ways that some of my peers were just able to effortlessly league guide through
Google Pay gets a major redesign with a new emphasis on personal finance
"All right let's talk about google's latest change of things. Google no stranger to discontinuing services. Sometimes they replace them with similar functionality. Like they did with google play music and youtube music companies now in the process of phasing out google pay and will replace it with google pay. Let's explain back in two thousand eighteen. Google rebranded all of its payment services. Google wallet checkout android. Pay all as google pay as of april fifth. That's going away. The new google pay operates differently. The new google pay will require you to download a new app and create a new account. Four peer to peer payments. If you want to send money to friends and family and such you'll need a new account. It doesn't just use your google account. The google pay website will stop functioning after april fifth. Oh and balance transfers. Debit cards are no longer free. They now carry a fee of one point. Five percent or thirty one cents. Of course this is only sending money to in from other people. The new google pay. We'll still use a google account for paying by nfc. If you're like paying at a cash register rendezvous dr technical points out that. This is a global adoption of google's india focused payment system previously known as google says. It is now being rebranded as google. Pay as well this. Sms identification as the basis for money transfer. Which is good in places without pervasive internet connections but also carry some limitations. Sms identification limit your sign in to a single device at a time. It's unclear how google pay will be supported on platforms like where os in that case. It's also tied to paid phone services meaning lose access to google. Pay if you don't pay your phone bill. Google tried a similar. Sms based approach with its now discontinued aloe messaging service. Which as i just mentioned is now discontinued.
Taxing time: How the pandemic will affect filing your taxes
"Tax filing season will look a bit different this year with the corona virus pandemic showing up here too there are several things tax filers should be aware of starting with the good news on those code relief checks you will not be taxed on the money that you've got on that but Associated Press personal finance reporter Sarah Skidmore sell advises anyone who collected unemployment benefits in twenty twenty to remember those are taxable they really face penalties and fines for failing to claim that income and if you were able to work from home last year don't get carried away with trying to write things off the home office deduction is really tricky because an employee of a company can claim it you can claim if you are self employed or a business owner but it has to be very truly dedicated space it has to be used solely for work and nothing else so your kitchen table or you also can eat dinner or your bedroom we also happen to sleep those do not count the IRS will begin accepting tax returns on February twelfth I'm Ben Thomas
Should Women and Men Handle Money Differently?
"So first of all. Let's talk about how you get money in the first place and that is earn it right and according to the pew research center Women earned eighty five percent of what men earned in two thousand eighteen That pay gap is shrinking Particularly for younger workers which is a positive trend but that is still a meaningful hurdle to overcome. The pay. Gap is partly due to to work history. You know like having kids great you know. But as we mentioned with the fidelity study earlier taking time off to have quetta's like it often leads to job offers in worse income prospects not to mention the years of not generating any income which often reflects years of not investing in a workplace retirement account in particular. If there's a match there right and those are some big disadvantages to overcome yell like you said at the beginning matt that stat also reflects some structural issues when it comes to male and female pay. But here's another thing to matt When we're talking about pay women are actually often averse to asking for more money than their male counterparts. There was a survey from ron saad. Last year the found that sixty percent of women have never negotiated with employer. Overpay women are also more likely to stay at a lower wage job to according to The personal finance web site the balance. And that's not good right because even just a small bump in pay with a new employer or in a job that been in for years can have just a massive impact on your ability to earn more throughout the years and then also save more for retirement. So i think of all of the things in this episode where we see. Maybe you know women as sex falling short. It is in in the ability to ask for more at knowing what they're worth again. This is another instance where you might be listening and you're thinking i've never had a problem negotiating a race like i've never had a problem asking for more money so again. It's important to keep in mind that though the research shows us like we know any totally doesn't apply to everyone. I'm specifically thinking of two conversations with Kirstin and julian saunders. The couple behind rich and regular that was episode. Eighty six and julianne was just bragging. About how great pearson is at negotiating. Evidently she's just like the queen negotiating more. Pay if you had to listen to that upset go back and listen to that one. Is that regardless of your gender. Earning more it's just so important right and all of us could stand to our abilities on that front And we've had lots of different conversations on the show that specifically cover you know not just stories of individuals negotiating but just how to go about doing that. I'm of Ramiz sadie that was Backing up said one ten and he outlined a great process a great method You know when it comes to wanting to up your salary. You know what steps you need to take. In order to negotiate a solid race gam thinking to matt had far new darabi on the show. She is just awesome personal finance expert and at the same time. She is someone who has made a killing as a small business owner. She knows her worth. she knows. how to negotiate. Yes so like you said there are many women out. there are crushing it. Who don't have a problem and asking for what they're worth. Who don't have a problem asking for a raise. It's just when you read those statistics. There are obviously a number of women who do though. And i wanna see. That number changed for the benefit of women as a whole absolutely. Let's about spending to do women spend more. That's an interesting question. My wife personally met hates to shop. I really. She just defies the stereotypes. And actually i don't know i don't mind shopping. A little bit roles are a little bit reverse exactly but there was a study by the wharton school of business that found that women are more likely to view shopping as a recreational activity. My mom definitely fits that bill Most men wanna leave the store with their purchases quickly as possible but even though women enjoy shopping more it turns out men still spend more than women in a typical year so while men might not enjoy the process of shopping as much. They still shopping. Just from a utilitarian standpoint sure yeah also that increase spending with the stats as well. There's there's a survey from wallet hub earlier this year. They showed that men are more likely to max out a credit card. Women are apparently seven percent less likely than men to have maxed out credit card at least once in so while women they might enjoy the shopping experience. More than men do a lot of different stats. Show that women are more cost conscious. They're more likely to shop at alice. Stores more likely to to wait till something they want is actually on sale The store brands more than men. And so you know when it comes to spending this this is definitely a win in this category for sure And so i i of see this as a call to min to stop spending so much money on neighboring items fan. Yeah i feel like. I'm totally guilty of this. I totally fall into the study. I don't like to go looking for the best deal. I do because i'm spending less but like i'll look at maybe two or three different sites and then i just purchase right whereas for you like i feel you are so good at hunting and making sure you're keeping your eyes on the best deals out there making sure that you're spending the the least amount of money possible. I feel that's something that we all need to make sure that we're doing right. And so you know regardless of who you are. We should all work to just become a little more conscious and how it is that we spend our money. I gotta say mets. I don't care whether you're man or woman but store brands should be high on your list because they're going to save you a ton of money it's just like in savings when you go for the storebrand over the name brand equivalent unless it's your craft beer equivalent And you're wanting to spend a little bit more on the because it makes you feel nice. Can't name brand everything though. I think i think sometimes that's a tendency here. Maybe that men have The men just gravitate towards the name brand no matter what it is without thinking about it and that's where we need to shake things up right and we we need to consider storebrand's more frequently also too. I think we've talked about this. The quality of store brand items has gone up a whole lot in recent years. Her kirkland signature brag. There's other ones too man. Like target has some great Store brands that are better than their name brand equivalent. Sometimes so yeah. It's not just costco yeah costco rockstar Let's see let's talk about saving as well. There's more good news here. It turns out that the the savings rate for women is actually higher than their male counterparts. They save a higher percentage of their pay. They spend less of what they bring in and much of. That is due to the more frugal. Tendencies that we just highlighted when we talked about spending differences but even the women are saving a higher percentage of their income on average. They've actually got less than thirty percent of what men have in savings accounts according to data from the federal reserve from a few years ago That is likely due to the fact that overall they're still making less like we discussed earlier which means a smaller amounts of money saved overall. Yeah one of the reasons. Women have a higher savings rate as well Is that according to a survey by. Us bank women of all ages value financial security more than men do. But here's the thing than that. Focus on financial. Security can often backfire. If you keep more of your overall assets and savings and cds instead of invested in the stock market right like savings for saving for long-term goals is really important but so is investing For the really long
The Mindful Photographer, with Kenna Klosterman
"Able to welcome back to this week in photo. I'm your host frederick than johnson. Today take see because i have kinnock lost min on the hookers. He's a photographer. And you may know her from creative live where she's a host and kind of runs the show over there in terms of what happens on screen so we're going to talk to kim. We're going to dive into who. She is as a photographer. And more importantly i think she is. What i kind of affectionately call people multimedia for. She does a lot of stuff you know and it all kinda has one thread of photography that runs through everything. So welcome to the show how you doing. I'm doing great frederick is an honor to be on your show. Love having you on the podcast host for great live. We are photographers. And i love this concept of multimedia for you that is you the master of mini media. That's so let's talk. let's talk about. let's start there. Let's dive in really wanna talk about just sort of your a lot of the things that you do because you you do my research on you you're are you are obviously be creative live you host a podcast for creative live called. We are photographers. You run workshops when we could do that you know. We read workshops around the world. You are a photographer. Obviously and on and on and on lots of stuff like i said has a common thread of photography reading through it. Let's start with we are. We are photographers. And we'll start there so tell me about the podcast and what was the inception of the podcast and come from. Yeah awesome so for those. That aren't familiar with creative live. We are a educational sites where we stream education and inspiration to Photographers makers all over the world creatives and creative entrepreneurs and so we have a multitude of types of people that watch creative live But i've always had my heart for photography. Because that's what i do and so We wanted to bring additional content and insights to our community global community out there so we started the podcast called. We are photographers. Because i kind of wanted to be inclusive on the we Not just like. Here's a photographer. And this is a photographer But we're all photographers whether that's professional amateur for the love of is And so I believe that there is something to learn from everyone's story and so this podcast is not about gear. is not about reviews of things. Those are all great but it really is about the human story of what can access all as creatives and you know. Everybody has a different story. But there's always themes and threads and we all have our ups and downs and so it's making us all feel alone in the creative struggle. I would say i love that. I love etem. Photo is very much in that in that jetstream. Because it's you know we talk about gear every now and then but in geek out like anyone else. But it's the show is more about these kinds of conversations connecting one on one with other people who just happen to share the love of photography with you and it could be business. It could be your technique or whatever you know. There's so much in this world to talk about in the photography world talk about. Everyone's experience is completely different. I want to kim. I want to dive into creative. Live a little bit I met chase jarvis way back in the day and i've had the opportunity to speak with him in person a couple of times and always always have that rockstar. Kind of you know trying to say something stupid frederick. It's always that and he started. This company called creative live when he started it or when when it got started it was and i don't know if it's still that you can correct me but the whole metaphor was watched for free. But if you wanna watch the replays then there's a small fee that you have to pay in order to get access to the replays. Is it still that model. Because it's been affectionately been kinda dubbed the creative live model in the industry is is still yes it absolutely is and yeah we we started. I've been there from the very beginning essentially as started out as a volunteer back now coming up on eleven years ago which is crazy and So yeah so so so. We are constantly bringing new classes to the platform. We have i think about two thousand classes on the platform now for over ten years time and so yes. There's always something playing for free across the across five different channels photo and video. Art design crafted maker music and then also our money in life channel which has a lot of entrepreneurial courses and everything from yoga to to personal finance and so a lot more than just photography Whether that's for your business hobby or life in general and so people can tune into something. There's always against playing five days a week for free Rotating schedule you can go and see what's playing. Our one of our core. Values is access giving people access to classes that instructors they wouldn't be able to necessarily go and see in person and then yes. It's kind of a for those ones Kind of try before you buy if you have a specific course that you want to be able to have lifetime access to That you want to be able to pause stop remind you can purchase that course and we also have what we call the crater pass and that's our subscription so just like a net flicks these days. You know everybody wants a subscription and so we've created that model where you can Pay one fee and then you have access to nearly all the classes and the catalog a while you have that subscription so again access to two thousand classes in some genres so so We still we still. We've evolved With a subscription but still. There's always something to watch for free and then you can also pay to own courses.
Investors get lessons, not profits, from GameStop frenzy
"Over the past few weeks the world watched as individual wall street investors rushed to buy shares in the struggling video. Game retail chain game stop. It was sold as a chance to punish wall street. Deletes especially those who bet that companies will fail. This is called shorting game stops share values. Climb to dizzying heights and then fell again. Virtually all of those market games evaporated washington post personal finance columnist. Michelle single terry talked about that. With no king. So a lot of newer investors younger investors are fascinated by the story of game stop stock and it has led some of them to get involved to put their money into the market for the first time that on its face is not necessarily a bad thing young people investing. But you have some concerns. What are those you know. I'm not a big fan of using investing like a game and what's happening with is really speculation is not the tried and true way that the average person who's like saving for retirement for example creates well for themselves. They do it. Slow and steady over decades really and with diversification often through mutual funds low index mutual funds. And so. i know that's not a sexy or exciting story for the children or young adults but the reality of it is that that's how they should be investing the mistakes that small investors are making when they jump into the market and scoop up a hot stock or get involved with something like game stop. What are the pitfalls that you see so the analogy that i use that. I think that they will identify with this. It's like when you go to las vegas casino and there are people who are winning. You hear the bells go off in the slot machines like yeah. That could be me. But that's not not like a casino. Sure they're gonna be winner. Sure you're gonna read the news stories about someone who invested gang stock in paid off the student loan debt but for everyone of that person. There are so many more who are going to lose money. They're going to invest money. Did they can't afford to lose and they're going to walk away. Not the better for your recent column. You spoke to an expert. Who made what would appear to be a very boring suggestion. But she claims it is not christine. Benz says buy some shares in a low cost s and p five hundred index fund. And you the buyer. We'll see that you are a part owner of what. So you're part of apple net flicks tessler all the major companies that. You're very familiar with the exciting ones. You know amazon. The problem is that when you buy a mutual fund you don't see the guts of it you know it's like putting together a stew and you got all the tomatoes and carrots and all that kind of stuff you're eating is great but then this though but when you look at the pot and you see it all you like carrots and there is beefing there. That's what an index fund. When i'm talking about the stock market and investing in and having money for your future i don't look at what the news is hyping. That's like the casino. Why when you hit it at a slot machine. Does the bell go off. Why would i want to let someone else know that. I've made money because they want to. They want other people to think they can win too. But we all know that the house always wins but the regular people who are not in the casinos. Who are he just walking on the strip and enjoying the you know as long as vegas without the gambling. They're investing in what people consider boring. But bahrain can make you a millionaire.
What the pandemic has revealed about the real value of college
"We've got a moment. We're in crisis. Can we do better. Ron lieber is asking that very question in his new book. The price you pay for college is the author of the new york times personal finance column your money ron for years and years and years. We weren't thinking about the price of college the value of college. Is it worth it. Well i think you have to start by asking yourself what college is right. what is college for. I wasn't sure what the answer to. That question was so i asked you know scores of families and i heard the same things over and over again colleges for getting an education for having your mind grown in your mind blown. It is for kinship. It is for finding the people who will carry you through life. It is for getting a credential whether it's the gold plated one that will open doors or just the degree that will allow you to grasp hold of the middle class and hopefully stay there and so in order to answer. The question of whether college is worth it. You need to find it for your individual family that we as a nation can dictate for any given individual but then how did we get to this place right. My dad worked in the summer and put himself through school and had a tiny bit of debt. After how did college get this expensive. There are so many more things pulling on our household incomes than there used to be. We are entirely responsible in most instances for our own retirement. We're paying more and more out of our own pockets for healthcare. Many people are paying off their own student. Loan debt well into their forties or fifties right so people don't have the same kind of disposable income as they might have earlier states have reduced their subsidies towards higher education which means the price of the state schools has gone up and the private institutions. They've gotten more and more expensive so the middle class. There is being squeezed. This whole idea of i want to go to a liberal arts college and better myself and in the world is will be. My voice. teacher is kind of an antiquated thought. Sure i'd like to enrich myself but not if it's going to put me in hundreds of thousands of dollars worth of debt. I remember when i was a senior in college. I went to lehigh and lee. Could absolutely help you on the career services front. If you wanted to go work in an accounting firm or be an engineer i wanted to work in investment banking so i drove to new york city with my mother and i stuck into the career services office at columbia university and i borrowed these giant binders. That had every piece of information that you needed for every bank every financial institution so you could apply for the summer internships. Now i went to the photocopy machine to start and you needed to have a school. I d to use the photocopier. I got caught. And i got kicked out the reason i bring this up. We send these kids to college but the best jobs are directly linked to only a few schools. So do we need to start looking at. Here's a college. What is the job. My child is going to get on the other side because otherwise they will be sitting here in hundreds of thousands of dollars with a debt. Yes to all of that first of all. That is the most bad ass career services story that i have ever heard your description of this as quote unquote best jobs right. I mean it is true that the best jobs in investment banking very narrow feel from certain institutions. Right unless you beat down the door but are those. The best jobs in america are the best jobs for anyone. Goldman sachs's is hiring. All these people in salt lake city now do not come from columbia and harvard and stanford mit. So then we have to ask ourselves well. These are iconic jobs in in certain social classes but are they really the best jobs out there for any given twenty two year old. I don't think so. Before the pandemic we knew there was a skills gap in the united states. We were at full employment yet. We had millions of americans who are not making enough money to support themselves. We had people who had jobs but good enough jobs. But you hear people making that argument saying you cannot afford to support yourself and your family working in a fast food restaurant but that job was never intended for someone who has a family to support. Is there an opportunity to actually create a real jobs program. A skills retraining program so it's not just about raising minimum wage. It's about retraining. People to qualify themselves for better higher paying jobs yes and that infrastructure already exists we can use the community college infrastructure to provide that skills training but we also have a shortage of qualified instructors to teach some of these skills. Why because the skills are so in demand that the people who would be doing the instructing are making five times as much money being actual practitioners. If you're a master plumber. You're not going to spend twenty hours a week teaching at a community college even though it would be a service to the community if you are a welder with twenty five years of experience right same thing is true. So how are we going to create the budget that allows for more people to be pushed through rigorous training programs. And so we need to do more I think from a state perspective and from a federal perspective not just provides the money but also to ensure equity and access to these programs
Navigating the Maze of Paying for College
"My colleague ron lieber joins us now. He is a personal finance columnist for the times and his latest book is called the price you pay for college an entirely new roadmap for the biggest financial decision. Your family will ever make ron. Thanks for being here. Thank you for having me. i you know. I had trouble reading that that subtitle. Because i am. I am one of those families This biggest financial decision that i will ever make. This is a big subject. Well i mean why not call it what it is right. I mean looms incredibly large not just because the list prices are so high but also because of the emotional component of the decision right. These are our children that we've invested a lot in both financially and emotionally and we're about to send them off into the world and the enormity is not to be underestimated especially emotionally but is the enormity we sort of put on the idea of college. Are we misplacing our priorities. When we think that college sort of equated with our children's future. I think it depends on who you are. And how much privilege coming to the table with me. And you're a new york times columnist and you went to a selective school and you are reasonably well networked. There's pretty good chance that your kid is going to be okay no matter what and no matter how you define okay whether it's income or friendship or connections or happiness in the world but if you're starting from someplace else right if you are from a low income background if you are a person of color. The school can make a sizable both difference in your trajectory. So it does depend on who you are. But i also understand why families who are more privileged than average get all caught up in the frenzy because it literally surrounds us in our communities in the media and certainly in the high schools you bring up an interesting point too about what the intended not just where you come from but what your purpose is what your intention is with regard to college. I mean some people see college as primarily a financial decision means to getting a job or career or even just getting by others see college and perhaps this is the the person of privilege viewpoint. As just a fundamental part of being an educated human being other people see it as a way to compensate for what they think was a shoddy secondary school education. Just kind of becoming reasonably well educated and then others of course it is like a fun way to spend four years should the way that you view college and its purpose influence how you view that investment yes and you hit each of the big three so i spent years asking people. What is Because you have to find that for yourself before you can go shopping for it and so there really are three components right people shop for an education right. They want their kids minds. Grown and minds blow number two. They go shopping for kinship. Right you're trying to find your people the people who will come to your wedding the people who will carry your casket the people who will hire you and also your mentors. The grown-ups who will influence you. And then the last part is the credential and people think about that in a couple different ways some people come to college because they are looking for you know the the basic degree that will allow them to grab hold of the middle class and hang on for dear life right so maybe they're coming from a low income background. They want to become a teacher. They want to become an account. They want to become a nurse. Know relatively recession proof jobs and then there are people who are reaching for the sort of gold nameplates. They want doors open to them. That might not be otherwise. And if they're already from a privileged background they're already part of a fancy alumni network. They don't want their children to you know downgrade in access or privileges and so they strive for it all right for people who are not conversant in the three numbers five to nine busily worrying about this. Let's just give a sense of. What does college costs. What is the cost in america of an average public school education and an average private school education right now well from the perspective of parents. We often use rice with cost rates that there's the net price or i'm sorry. There's a list price right so the list price at the most expensive private colleges and universities right now is over three hundred thousand dollars for four years and that's after taxes by the way right does that include like food and textbook. That's everything all in. Yeah at a flagship state universities. You may pay more than one hundred thousand dollars for four years. And that's if you can get through in four years and plenty of people cannot but the net price is something different. What's going on behind the scenes. Now is that there is not just the financial aid system of old where discounts were based. On what you earned what you had right so called need basting. There's also an entirely new parallel track of financial aid known as merit aid where people are given discounts for all sorts of reasons. Maybe because you're a good student or a good leader or maybe it's because the institution is in a market segment where just no longer has much pricing power. Maybe because everybody around it is discounting her because parents who have the ability to pay are no longer willing to pay for that particular institution so it's kind of unpredictable.
How Your Attachment Style Affects Your Mental and Financial Health in a Relationship
"I am interviewing ginger dean psychotherapist and founder of loving me after we her specialty is helping women overcome heartbreak. Increased self love and confidence after toxic relationship so they can become the best version of themselves. Love it thank you show. Thank you for having me. Melania it yeah. I'm so excited that you're here. You know we've gone way back for a while in the personal finance base. And i love what you're doing with loving me after we. I love your instagram. Your facebook group in everything that you're doing so you know before we jump into the questions i'd love for you to just tar audience a little bit about what you do and the community that you've started all right so my name is ginger dean and as you said i am the founder of loving the after we and that's where i help women healing after toxic relationships increase their confidence so they can become the best version of themselves so that might mean we cover a lot of topics around codependency toxic relationships childhood trauma attachment issues of course topics around narcissistic abuse. Do come up. But it's probably not my central focus but those are pretty much essential issues that we cover over loving me after way. It is such a helpful community. And i have to say that you know. I went through an incredibly devastating up three years ago. I ended my nine year relationship. That was probably the hardest thing i ever did. I didn't realize it was codependent. Until afterwards and you know. Because i had all of this these feelings of like why do i feel like my life has ended. And why is everything so hard. And then i got into really toxic. Rebound where i was always wanting more and he was always stand offish in that really how i kind of got turned onto this book called attached which was completely life-changing eye-opening. I feel like i read attached and suddenly everything made sense. I was like oh. This is why is behave. The way behaved in everyone relationship like a classic love anxious not not proud of it but it was good for me to realize that. Oh this is actually thing and as a love anxious person. I've attracted a avoid types and you know just like magnets and we just can't give each other what they want so new. That really just completely changed my life. And i just dug into the research really gave me insight into why behave the way. Behave my own relationships Happy to report that. I'm in a new relationship with a securely. Attached person in my own behavior has changed. And i've done so much healing in the past three years. So can you explain to our audience a little bit about attachment styles and how they affect relationships. Because to be quite honest i never even knew about them until after this break up rebound when i was like why am i in such a mess and you know it just opened up my eyes. So can you share that with our audience. Our craftsman styles are developed based on. You know how we were raised for example. Our caregivers are source. Figures to like teachers coaches mentors grandparents. Aunts and guest also our parents and so what can happen is depending on how we were raised. The weekend ended up being either secure anxious. Fearful avoiding or dismissive avoidance and so with the anxious types. You'll find that they're very overly concerned about whether or not their partners loved them. They will often. You know audition performance relationships. They're very hypersensitive to abandonment issues whether thoughts or just the perception around abandonment and rejection until they're often preoccupied with abandonment. However because they haven't really learned how to become secure because that was never really modeled for them. They tend to go after the partners that modeled how their parents were growing up. So if you're a parent was you know for example. And it doesn't have to be that it was. They were deliberately emotionally neglectful.
The Energy Sector in 2020 and Beyond
"Full answers. I'm also southwick. And i'm joined by robert. Brough ho ho bro. Camp personal finance expert here at the motley fool. That didn't work out at all seasons. Greetings to you all in this week's episode. It's part three of our year end. Investing series with the help of industry focuses nick cycle. We're gonna dig into the energy sector yet. It puns all that and more on this week's episode of multiple answers bro. What's up well also by the laws of personal finance multimedia. I am obliged at this time of year to offer a few year end financial planning tips. So i'm going to say you heard every year a there are a few that are unique to twenty twenty and boy. It's been a unique year so here are some ways to make the most of this interesting year. I have five number one. Max out employer's sponsored account so actually have until april fifteenth of next year to make twenty twenty contribution to an ira but the deadline for make for most employer sponsored accounts like 401k's and four. Three bs is december thirty first. So if you haven't yet maxed out the account if you have a little money lying around you still have a little bit of time. But you generally can't wait until the last day of the month for most employers you have to change your rate of contribution a few days before the final payroll of the year just an example the motley fool. If you want to max out your account this year you have until december tenth before four pm to do it but of course your job will be different so talked your hr department the bottom line here. Is that most 401k. Plans or at least many. Don't actually allow you. Just send a check you have to do it through the payroll just as a reminder of the contribution limits in two thousand twenty for most employer sponsored retirement accounts it's nineteen thousand five hundred with an additional sixty five hundred fifty or older by december. Thirty first for ira's six thousand dollars with an additional one thousand for the fifty in better crowd and those limits are not changing and twenty twenty one or staying the same that said income thresholds and being able to contribute to a roth or whether your contributions to a traditional ira deductible those will change so check those out if you're going to contribute to an ira twenty one number to make a corona virus related distribution from your employer account if possible so thanks to the cares act that was passed in march employers who have experienced certain health or financial related hardships due to the coronavirus can withdraw up to one hundred thousand dollars combined from their retirement accounts. Avoid the ten percent early distribution penalty. If they're not yet fifty nine half though you still taxes the good news is you have up to three years to return the money and it doesn't have to go back into the account from which it came. We've mentioned this a few times this year. This actually provides an opportunity for people who are in mediocre or worse employer plans to move the money to an ira however this option is only possible. this year in the deadline is actually december thirtieth. Not thirty first. So if you're intrigued. Sure to visit the irs website to make sure that you fit the criteria for making one of these rotavirus related distributions number three convert traditional to roth assets so you have to december thirty first to do a conversion for this year. This year is a particularly good one to consider a roth. Tax rates are historically low and income has dropped for many americans course you pay taxes on the convert amounts but then the money grows tax. Free as long as you follow. The rules of this is also a good year for americans over the age of seventy. Who want to do convergence. Normally you have to take your required minimum distribution from a traditional account first and then do the conversion no conversions do not count towards the required minimum distribution. But all our. Md's have been suspended for this year. So you can convert at will just remember that ever since the tax overhaul that passed in two thousand seventeen conversions could can no longer be undone by something known as a re characterization so only do a conversion if you're sure that it makes sense number four spend money remaining in flexible spending accounts depending on your employer's plan you have until december thirty first to spend the money in a dependent care or medical flexible spending plan. Some plans do have different deadlines some allow for extended grace period's up to maybe march fifteenth and for the medical account. Some plans allow you to roll up to five hundred and fifty dollars to two thousand twenty one. That's up from last year's five hundred dollar carryover amount also thanks to the cares act. The items that qualify for your medical flexible spending account have been greatly expanded visit. Fsa store dot com to see what's eligible and again reach out to your hr department to find out the deadlines for your plan and finally number. Five deduct charitable cash contributions. once again. Thanks to the cares act. Taxpayers can deduct up to three hundred dollars in cash contributions to call charities without having to itemize their tax returns. Make sure you visit the website for more info and it also has a searchable database to find which which organizations qualify
How To Shop Safely Online This Holiday Season
"The three biggest holiday shopping days of the year. Our thanksgiving black friday and cyber monday american spent twenty five billion dollars online this year. A record and if you're crooked an opportunity washington post columnist michelle. Single terry covers personal finance. She talked to steve about what you can do to protect yourself from scammers. You have given a list of things not to do. List of don'ts let's run through them and you can tell me why you say. Don't use your debit card. Why not right. You should think of your debit card like flying coach. Not just coach the middle seat. It just doesn't give you a lot of protections it doesn't give you the same protections as your credit card and it's also tied directly to your bank account so that if someone compromises you debit card. They're going to be taking money. That you might need to pay your rent your mortgage whereas with the credit card. You're not liable for fraudulent charges. And so you don't wanna use your debit card online. That is connected to your cash money in your bank account. Okay you also say. Don't be fooled because you're looking for a bargain. Lots of people are out of work or their income has been reduced. And so they're naturally looking for discounts and rewards and the scammers know this so they're sending emails shaw. You've won fifty dollar gift card to amazon for all your shopping enemies. You've been shopping a lot on these platforms. You like okay. That might make sense but it does. So that's how people protect themselves. Just a blanket. I don't click anything. Even if i'm expecting a delivery and i get a note i go to the website to double check and track from that platform. You also say don't be so loyal. Loyalty sounds so nice. Though why not be loyal to a merchant. Well anybody who has had an account with just about any company these days knows that data breaches has been happening like a diamond doesn't and so your data is out there. When you sign up for these loyalty programs now a retailer or maybe a grocery store that you frequent often then sure you get your discount but if you're just shopping for something and and a website is all just join our law program. Now try to limit the amount of your personal information that is online now in addition to the don't you have some things to do and one of them seems related to that checkout as a guest rather than giving all of your information permanently to a merchant is that for the same reason it's for the same reason the more information that you put on these sites the more likely that your data is going to be out there hackers going to hack them. Just check out as a guest. Don't store your credit card information that increases the likelihood that it's going to be compromised. You've just got to really protect yourself and take that extra step to look and check out sites before you use them. Do you have a sense of whether the problem of fraud has increased as online sales have increased during the pandemic talking to consumer advocates and experts at the federal trade commission and they have seen an uptick in scams the scammers playoff with news. So they know lots of people shopping online. So that's why you probably have seen an increase in a number of emails that you're getting about discounts and things like that so there is more scamming out there the to become so sophisticated you have to think like a criminal almost to save yourself from being scammed. Do you enjoy shopping online. I don't enjoy shopping at all. I look at it as a chore. And so i have a lot of anxiety at this time of year. But if you're gonna shop if gift-giving is your love language. Just be careful because the scammers are coming for you. Michelle single territories a pleasure talking with you. Thank you so much thank you.
Student loans in the United States
"Roughly 44 million student loan borrowers haven't had to pay anything on their student loans since March. This grace period offered as part of the coronavirus relief package will end on January 31st. That deadline was originally December 31st. But last Friday, Secretary of Education Betsy DeVos announced that borrowers would get an extra month of reprieve. But for many That's still not enough. I'm unemployed, and so I am concerned about not being able to pay my loans. I'm 61 years old been paying student loans since my twenties. If I were having to pay my student loan right now, during the pandemic, it would be to 36 a month. I have a lot of loans that air coming up for repayment, and I'm really worried that don't have a job yet. Asselin, who has recently completed grass school and who lost my job in July. Here. I've been grateful for the paws on student loan repayments. I just don't understand how we're supposed to pay off our loans. When the situation hasn't really changed. I don't have full time work and the payments are pretty steep. My parents willing, is $1400. And what are we supposed to do? This month's installment of dollars and cents. Our monthly personal finance series. We're talking about student loan debt, joining us his Alvin Hall. He's a financial educator and author of several personal finance books. Alvin, It's great to have you back. Also with us is Cara Perez. She's a financial educator and the founder of Bravely, Ah Financial education Company, Carol. Welcome back. Thanks for having me and we're also here with Susan Dinar ski. She's a professor of public policy, education and economics at the University of Michigan. Susan Welcome. Thanks for having me. So Susan first put the problem of student loan debt into context for us. How big of a problem is this in our country? We have a lot of people in debt, and we have some people who are having trouble with that debt. Since we've got so many millions of people who owe student loans, even a small proportion of them having difficulty adds up to a lot of people in trouble. How long has this been a problem? And is it getting better or worse? It was sort of important shift that took place during the great recession in about 10 years ago, where Ah lot of people who have the past who had not borrowed began borrowing folks who are going to community college is, for example. On BOC's who would tend to drop out after just a year or so. And default rates just went through the roof on. We haven't even completely recovered from from that period. So I would say, you know, we had student debt around for a long time. It's been affecting more people and causing more defaults, especially since three session, Keira. We heard from several people at the top who are out of work and who student loan payments are starting back up. February 1st. How can someone without income pay down student loan debt? What are their options? That's a great question and one certainly without easy answers. I think the first thing that anyone who does not have any income and is looking to make actual payments needs to do is sit down and assess their savings and understanding my trying to pay this out of what I currently have tucked away in savings or investments, or am I looking To do something like, ask outside of my finances to make these payments, But I think that more importantly, the question shouldn't be If I'm unemployed. Should I be trying to make these payments? The question is, if I'm employed, where can I find employment? Because once you have money coming in, it's going to make everything in your life, including paying your student loans much easier. We got this message from Kara on Facebook on Lee federal student loan borrowers haven't had to pay during the pandemic. I lost my job and still had to pay my student loans. I told my loan provider that I lost my job. Got the payments postponed until May, But I still have to pay $150 a month for the interest. What about private loan borrowers? Any thoughts? Yeah, I think the first thing that people should do is get in touch with their lone bar are their lenders. Justus carded here to figure out if there is a lower amount that they can pay or if there is some sort of grace period that they qualify for. Really, They're stuck between a rock and a hard place, right. If there's no money coming in money cannot go out. And so it really falls on these companies to understand we're in a global pandemic that the U. S. Has not handled particularly well. Can they work with their Lindy's so album for someone who is struggling? Who is working but is also struggling to pay for food and housing. Is there any advice you can give on how to start chipping away at their debt? Yes, I must tell you Agenda this, uh, the subject sits deep in my stomach because when I graduated from school in the seventies it was doing Great recession and I was in very much the situation. I had no savings. I had a job. The job was unstable Income was low. What I did during that period of time I took Another job. I took a job working in a department store selling men's furnishings, the nice words for men's underwear, belt and socks. And I would allocate as much money as I could. From that job. A job I really didn't like. But my purpose had to be to pay something on these loans because back then you did not have that many options. The other decision that I made during that period of time, which I was told everybody about was that I looked at the program of loan forgiveness and discovered that if I Heart in a particular school and a low income neighborhood or something like that, Then some of my loan would be forgiven. So actually did that. I took a job in what was then on area where the school was in the program, and that definitely helped repay part of my loan. So I think you have to be creative because Didn't have savings. My parents couldn't help me. I did not have a safety net. I'm thinking about the latest job numbers that came out and they were much lower than expected. And so for people who are maybe struggling to find that first job right now, or You know to secure income. The idea of finding a second job might feel particularly daunting album. It was daunting then, but If you are not proactive in some way. In handling this, then you get more depressed. It becomes more overwhelming. So you can call the student the government office on student aid and try to re negotiate. But Robbins and just sit there, it's good to be proactive in some way. So at least every day you're making one step forward toward a goal.
Ramit Sethi - How To Start Your Own Thing
"A follower in a student of her meets cities worked for the past eight years. And i love his take on building sensible sustainable businesses and a practical step by step way his book. I will teach you to be rich is a must read here on the hundred armed. Ba and for good reason. It's a sensible practical guide on getting your personal finances in order. One of the things that we discuss in today's guest interview is a lot of your money. Problems can be solved by making just a little bit more money. Earning more income. But how do you build that business to allow you to do. So how do you get started. And that's what we get into in today's episode. We're through meet sadie if you want to take it beyond today's episode then you're gonna want to check our meets new program called earn -able more about that later. But if you're curious you can head onto i w t dot com slash earn. But for. now we're going to segue into my conversation with ramiz safety on building your own thing. It's great to have your me on the show I've been a fan of your work. A follower of what you do for a very long time. It's funny because we have similar friends. You've talked about this before. And i've i've learned a lot of things through those people who learn from you. So it's great to actually get the source hunted as podcasts. And we really want to focus today on the subject of building. A business on the side were hopefully it can become their full-time thing. I want to hear a little bit about why you think this is important and and a little bit more about. Why do you think our listeners can benefit from today's lesson. When i asked people in their forties what is their number one concern. The answer is always the same money and when you think about money the way that we have been taught to think about money especially in america is one of restriction. It's sitting no no no. You can't spend money on law as no. You can't go on vacation no. You can't do anything and implicit in that. Is the idea that we only have a fixed pie. This is my money. Don't don't tax me. Don't charge me anything. Because this is all i have for the rest of my life. It's such a fixed mindset. And i have a different framework called the ceo. Framework cut. Costs is one that we're all familiar with e is for earned more and then always for optimizing your spending like negotiating your credit cards and things like that. The part is really what i want to talk about because it is so powerful. It's really a force multiplier and if we all take a hard look in the mirror we will all probably realize that. There's a limit to how much you can cut but there is no limit to how much you can earn so if you think about starting a business and you earn five hundred bucks a month for a lot of people that's life changing. Maybe you start there and you say hey i earned five hundred bucks made a couple of sales. Well maybe i could turn that into three thousand. Well if i can turn three thousand. I could turn that into thirty thousand. Of course i need to learn skills. That are different along the way. But i can see a path to that number and once you start to earn that money. You can decide. Hey do i wanna go full time on this or do i love my job and i just want to keep this on the side and spend saturdays doing it. And that's it. It gives us options. It gives us empowerment. It gives us the ability to create our rich life. So that's why. I'm excited to talk about starting a business how to do it. Pricing psychology. this is the stuff that i love talking about. All of this for those who will follow the show. They know that eyesight hustled for over a decade before. I went into full-time entrepreneurship. And one of the things that i am so thankful that side hustle period was it a gave me time with a safety net to find out. What kind of entrepreneur. i wanna be. What kind of business do i want to run. Do i like retail. Do like online too. I like products or services. And it's such a luxury to have that safety net. But i want to ask the question. At what point. How do they know how did you know it's time to say you know i'm been playing it safe site housing for a certain amount of time. One is the time to make the leap and say you know what leap of faith bell myself fulltime entrepreneurship. Here's what i did. I set a rule for myself. I'm not even going to think about leaving my fulltime job until i earn more from my side hustle. Three months consecutively. That's a pretty high bar that means that month one. I might do it onto. I didn't get it back to square one start again. So it's a pretty high bar. Why did they do that. Because i wanted to organize my finances before. I decided to make a leap because when i started a business. It's very much the same as when i go to make a purchase for something that's really important to me. I would rather save or invest. So that when i go to get that i don't have to think about money. I can get whatever i want. And that's the same way that i approached it with knowing when to make the leap now for other people that may not be the case. You may decide if i'm making x dollars per month. I'm going to make the leap fine little less conservative little bit more aggressive than my rule. 'cause i did it consecutively. But that's your rule. The key thing here is to have a rule ahead of time once you start making money generating customers you're gonna start thinking about other things and it's always good to have a guideline before you start. You can adjust it later. It's just on paper but it's good to have a rule whether it's my rule or your own personal rule for at an when you're ready to make a move
The IRS is Eyeing Crypto
"You're planning in on trying to cash some of your casino. I should say some of your bitcoin and trying to pocket. The gains will be prepared for a potential tax it. If you've owned or used bitcoin you may owe taxes no matter how you acquired used it. Cbc senior personal finance correspondent. Sharon edison is here now with more on what you need to know. Sharon hi andrew. Will you know if you bought or sold. Bitcoin or any crypto currency this year. The irs wants to know about it. It now asked this white on the first page of your ten forty federal income tax. Return at any time during twenty twenty. Did you receive sell send exchange or otherwise acquire any financial interest in any virtual currency. And you have to answer yes or no now you need to check. Yes if you involved. In any transaction with the crypto currency including selling it receiving it transferring it for free exchanging it for goods or services or other property including another virtual currency and like stocks any gain or loss from the sale or exchange of crypto currency is taxed as a capital gain or loss. So it's very important to keep good records of your transactions now. You're gonna find out a lot more about bitcoin and your taxes at cbc dot com slash smart tax planning andrew. So couple of questions consequences if you don't check the right box on your taxes. Turn either you're dodging purposely. Or maybe just don't know well you need to know you mean to make sure that you understand how this works and working with tax professional is key here because if you've made a transaction and you do not check that yes box that tax experts that we've spoken to say that you could be accused of tax evasion by the irs. There could be criminal consequences so this is a very serious consideration that you have to make right there at the top of the ten forty four. You can't miss the question. But you must answer truthfully is because there could be significant consequences. If you don't sharon just real quick our places like coin base and other institutions are they reporting your gains and losses as well to match. I'm so glad you asked that because like a brokerage firm will report. You know what you've done with your stock transactions your other transactions. This does not happen. At many of the exchange this does not happen with crypto currency. Usually so it's very important for you to keep very good records on your own and to make sure that you understand how to keep those records having cpa and enrolled agent some tax professional who has worked with quipped crypto currencies. His work with tax payers. Who are dealing with. This is very important so ask that question as you pick the right professional work with his sharon. I get the idea of having report if you've bought or sold crypto currency. But the idea of if you've used it for any transaction could get really complicated especially as more and more vendors are accepting it as a as a form of payment if you let's say you rented an airbnb on something using it. Let's say you bought a cup of coffee somewhere you've got to report. Every of those transactions that can be incredibly complicated. It says it says any so i know that but of course it is difficult to keep all of those records and all of those documents the issue is that people want reporting anything and i think the irs has been really looking to crack down on this looking at the millions of people who own bitcoin right now own cryptocurrency and. How just several hundred. Some years over the past few years have been reporting every year. so they're missing a lot of people and they just wanna make sure. I think that they're getting the accurate numbers of who has who owns bitcoin. Who's using it and how reporting it sharing this just just thinking about all the ramifications because early adopters. They may be smart enough to have their own little wallet where they don't even use a coin base and that may part of the appeal of bitcoin. I think is that it's so anonymous. Some people and we've seen historically what it's been used for so it has that You know the impression that that that it gives. But i would think anybody that buys on coin base or coin. Base is not going to be able to say. Oh no we're not going to provide anything coming. Base is going to have to generate if you answered. Do they generate like something to the irs. Right now about the people that they're dealing with or will they not a standard form life at ten ninety nine form. There's not a staredown. Four for crypto currency. So you may have a some institutions may have some type of form or paperwork that they deal with the irs. But there's no standard standard ten ninety nine like you get with the brokerage firm from what's coming telling. The market cap now is for bitcoin and for other cryptos that that's going to. That's that's gotta be near term for for the exchanges. I would think if you can't you know it's like a wild. Wild west only lasted for so long right exactly and that's again that's that's evidenced by the fact that it's not on the schedule anymore. It's not tucked away somewhere in tax documents where you have to report. This is right at the top on the first page of your ten forty form. So you're absolutely right. Things are definitely changing. Okay all right. Sharon thank you. I appreciate that thanks. People say that's why it was invented. We'll see when when the when the rubber meets the road. Whether everyone you know going to be it'd be interesting to watch Better better hire more. Irs agents. I think
"personal finance" Discussed on Radical Personal Finance
"Throughout the ark of radical personal finance of sought to emphasize for use in themes that i believe are very very important and are often underrepresented in the world of financial advice one of those themes that i have encouraged you to continually focus on is to put money in its rightful place money is important but it's not of utmost importance is not of the highest importance in fact if you were to sit down and to write down a list of the things in your life that are important if you were to be honest about it i think you'd have to put money pretty far down the list now the trick with money of course is that it influences all those other things so in many ways it doesn't even belong on the list because money is the fuel it's the the the energy that allows so many other important things to be accomplished its engaged in part of every other aspect of life but money is not of utmost importance i was reminded of this over the weekend i was reading my friend jd roth sweb site get rich slowly dot org really weldon website jd roth has been on the show personal friend of mine is one of the people in the world a personal finance that i most enjoy spending time with and he started get rich slowly back in two thousand and six in the early days of the online financial blaga sphere built the site up to be one of the leading personal finance site sold it that capitalised him to a place of being financially independent he retired.
"personal finance" Discussed on Radical Personal Finance
"In competition is you you the customer so you've all all the power act like it don't don't give into old outdated ideas don't give into old approaches act like you've got the power because you really do only two cars on sunday show plenty of room here as you can see if you would like to call into a future show a sometimes i have a lot of calls and sometimes they don't have a lot of calls with these shows but if you want to talk with me if you wanna talk about a an area of financial planning or of money management early retirement financial independence this is your best way to do it i'd love to have many more of you call last year we did a few shows way open of up to the wide audience and took a half a dozen a dozen calls an hour and those were fun so come on by radical personal finance that com slash patron and sign up they're radical personal finance dot com slash patron thank you to the several new of you who have done that so far this year i will be here to continue earning your support and continue earning your compensation thank you for those of you who do that red adverse vice i come such patron other and alan smith's could about a minute of music when you make sure the ceasefire have something useful to share with you in the next minute hope you enjoyed the discussion i've had on expenses hope that's been useful to you for many of us here in january one of the best things that you can do with regard to your 2018 financial household returns to cut expenses if you look at them individually the impact of any specific in the expensive probably pretty small but if you look at them collectively the expenses thousands of dollars for most of us sued don't don't fall prey to despising the small changes.
"personal finance" Discussed on Radical Personal Finance
"Wow what a fun question hub two big themes at two big themes occurred to me right off the bat and then probably some individual questions specifically the first theme that occurs to me would be somebody simply making it clear that there are open to advice in any area frequently somebody has a a stated scope and as a financial planner one of the things that you try to do is you lay out the scope of the engagement of using the kind of the formal language what is the scope of a nature of our engagement so somebody wants a review of their investment portfolio that's one thing if they want a review of their tax plan that's another thing but if somebody were to talk with me as a financial planner and say i'm interested in your thoughts in a review of my say life insurance policy then that doesn't necessarily give me permission to start talking to them about their plans for their child education now on radic personal finance i can do that and i do that very freely but in a professional context that generally is not accept it so the first thing that somebody could do as if they're interested in a holistic adviser holistic input then they can make that clear to a planner and just by simply saying something like by the way as we talk about this i want you to know that i'm interested in anything you have to say or any insight that you have about uh any other aspects of my financial situation uh in a way that they could do that practically would be to be clear about everything that they have instead of being secretive uh they could you say here's what i have i have this here have this other thing here as well now of course you as a client would need to balance you're at the need for privacy in those things i've talked about that elsewhere on the show but in general most people you don't have to protect every single thing and just being straightforward with it helps a lot for apparent financial planner a financial planner is in a in an interesting relationship with a client where much as unique as a doctor you y you there's a bit of.
"personal finance" Discussed on Radical Personal Finance
"It's a new year it's friday and that means it's time for friday qna thank you the that welcome radic force for finance the show that akin to provide you with alex yields insight and encouragement you need deliver written meaningful life now while building the plant and enter freedom its ears or less flemish joshua and i am here hosted on friday here to push for finance we do live fewer day the callers waiting on the phone line to go there and anything that you want to talk about that we talked about again the money if you would like to join four friday threw an egg hall liked the danes in the future i would love to have you icecream these calls extreme the callers to these calls based upon support of the show as a patron so these calls are open on fridays to people who support the show on patriot and you can do that at radical personal finance dot com slash patron again that is radical personal finance dot com slash patron if you sign up become a patron there at the appropriate level you will gain access to the friday qna colon information the time and the phone number and you'll be able to join for a call like this today we go first to shift in the state of washington she of walk radic personal finance how can i serve you today it was he happy new year to you on our listeners um i'm a long time listener firsttime caller i really appreciate all the work that you do.
"personal finance" Discussed on Radical Personal Finance
"Good friday to you radicals and merry christmas that i have for you the final upset of radical personal finance four 2017 and on today's show five specific topics number one is tax reform number two is bitcoin number three is your financial tracking for the new year number four the year end clans and number five his thoughts on the future and how it impacts her life let's start with tax reform as a record today show a little bit earlier today president trump here in the united states signed the tax reform bill officially known as the tax cuts and jobs act of two thousand and seventeen a overall i am happy to see some tax reform take place uh it's very hard to sort out my own personal opinions on the subject of an to look at things analytically so first let's just start with analysis for you i have been looking at the text of the bill looking at the analysis of it and as of yet i find it hard to fully ascertained the changes in the strategies that will be appropriate for you to make in the coming years based upon the tax reform bill this legislation definitely does have very significant impact but probably the most significant impact will be on corporations the elimination and also the elimination of the amt uh the alternative minimum tax uh which for them which is really really valuable for individuals this particular tax bill seems to be a mixed bag that's gonna bring out i'm sure new strategies that we can put in play to help you save on taxes and will eliminate some of the older strategies as of yet i'm not entirely clear uh with now that we've got the final legislation nuggets officially been signed i'm not entirely clear how to teach you about the changes so i'll be working on that and when i can i will discuss those of for for that going forward.
"personal finance" Discussed on Radical Personal Finance
"You know this when she gases is josh for will our personal finance podcast we're gonna bring him on questions them in custody some interviewing within yeah and john and like it it's it's not a joke it's hits not just slick marketing the radical personal finance podcast really is radical he has he's had me on two and basically let me go as far as i want on the privacy stuff he he has just a lot of interesting guests on and kind of some radical lifestyle suggestions actually jesse he just didn't episode a few weeks ago about living in your vehicle and he you know he doesn't recommend that for everybody but he's like man if you're if you're in a situation where you could you know you could buy a vehicle the camper or a you know by van or whatever you can save a ton of money he he's not your traditional financial adviser and i i absolutely love his show and if you're kind of knew that the world the financial advice he has a very approachable manner to them in a very just a very entertaining show if if nothing else so i'll quit rambling on about him will go ahead get him on here joshua welcome to the complete privacy and security podcast thank you for having me adjusts at long the show would you mind starting out by telling our audiences little bit about yourself in your experiences in a financial planning sure i was always a interested from an earlier pledge in the world of money i was the nerd who in high school when most people probably out playing football i'd be sitting around reading books on money and sire as a personal finance aficionado from an early age in two thousand eight that led to my deciding after got laid off from a job i decided to go into the actual financial planning business and so.
"personal finance" Discussed on Radical Personal Finance
"Very hard but possible the reason i say that is because that was the question that i had a number of years ago i remember at the time i had actually sent an email to cliff ravens draft who had a has a brand called the podcast answer man and i asked that question i said is it possible for somebody to build a business on the podcast alone he responded i can't remember how to respond yes nodded go read the but it is possible however my next point podcasting is a terrible business i repeat that point podcasting is a terrible business podcasting however no matter the size no matter the scale is a great support it's a great marketing support and has a great communications medium for a business if your interest is financial and prophet related and ords great support for your promulgation of an idea or an ideology if that's your area of interest so it is possible to build a business on podcasting alone but podcasting is a terrible business the numbers don't work it doesn't scale for you just to say on going to create a podcast maybe i'll sell some ads very very difficult it will only work if you are in the top few percent of abs excess for all podcasts now that is where radical personal finances and so therefore it has worked for me but hear me clearly i don't look at my podcast as a business i look at radical personal finance as a business which is led by a podcast that may be the biggest product that i currently have but it's not necessarily going to be the biggest products in the future.
"personal finance" Discussed on Radical Personal Finance
"Today a radical personal finance we continue our pathways to financial freedom in ten years or less series with a discussion of my idea of working as an rv mechanic david do the with the blue welcomed a radical personal finance the show dedicated to providing you with the knowledge skills insight encouragement and inspiration that you need a little rich and meaningful life now while building a plan for financial freedom in ten years less by name is joshua sheets i am by your friendly financial philosopher and fellow traveller down the road of freedom today i'm going to sketch out for you a blueprint that i think you can use and adapt to your situation the the guy plays episode is like us we'll call it the second in a in a very occasional series that i'm calling the pathways to financial freedom in ten years or less series are the first episode in the series was episode four hundred and seventy six in which i talked about pathways to financial freedom in ten years or less than i used the idea of working as an expediter in expediting expedited trucking and other live on the job opportunities and i sketched out how you could use a career such as expediting as a way for you to achieve financial freedom very quickly especially in that 10year or less timeframe this is something i say to you everyday when i opened the show i say financial freedom in ten years or less and i want to consistently paint these pathways out for you now there's nothing easy about any of these past but they're very very doable and to damage share with you a new one that.
"personal finance" Discussed on Radical Personal Finance
"Welcome to radical personal finance the show dedicated to providing you with the knowledge skills insight and encouragement unita need deliver rich and meaningful life now while building a plan for financial freedom in ten years or less money ms joshua and i am your host today's episode of the show is going to be quite a challenging one i had not intended to record a show uh this week at all i've been working on delivering the beta version of the crew an income guy that i'm working my way through an of an entirely focused on that and some of my end of the year plans and so episode after episode 500 i was planning to take a break but i feel i must record this show today and so i'm doing it uh but it's going to be a difficult one in a very challenging one uh basically a my goal today is to share with you some thoughts and ideas about how to protect yourself and to protect your career from being descend your financial your financial life from being destroyed because of allegations of shut sexual misconduct said actual scandal sexual sin that is my goal too quick upfront warnings as i begin today's show number one at a two most of radical personal finances consumable who up consumer will by the entire family today's episode is obviously related to adult topics and adult themes so i would consider a show like this mandatory listening for any person of perhaps double digit agent older but below doubledigits this may be one that you should screen first uh and consider carefully whether or not this will be helpful to your children's of your accustomed to living or listening to the show with your children i recommend that you skipped who different show uh uh and and enjoy that one today and then screen this one privately.
"personal finance" Discussed on Radical Personal Finance
"Well that was just reading personal finance and i was in the person i remember i think of a lazy man's retirement portfolio or something like that was the first book i read years ago that introduced me to index funds i am not an advocate of index funds neither online opponent of index funds and so when i was a financial advisor i didn't use so in the financial planning business that i built first few years i focused primarily on life insurance disability insurance longterm care insurance and health insurance because when your new and when you're young you can learn enough about insurance and you know a couple of months apart studied to be really useful to people and give good insurance advice it takes years learn about investing but over the years i've went through and i built up my knowledge and financial planning uh got at my neon charted life underwriter wound up becoming a certified financial planner later got a master's degree in financial planning along the way i changed my business and i changed from insurance primarily to investment primarily to working with retirees and in those portfolios i used both actively managed funds and passively managed funds for different clients so that's always been i'm not a on index only guy nor am i an opponent of the next thing i think in general many people most people will be better off with an index approach but i i even the most of the academic literatures against me and i have to admit that i still have a soft spot for several active managed funds and the approach of active management and i think it's a little bit more nuanced absorb not a where those my thoughts i indexing i got it i got it.
"personal finance" Discussed on Radical Personal Finance
"Oh we can golf memory that's five big round numbers so the first question is this what's the one thing that you do that may be others may not do that you phil's been the number one contributor to your financial success so far i think a probably willing to learn that's one of my strengths as i've always been a good student uh i was a good student when i was younger was a good student through school of always sought to be a good student and when it comes to finance it is exactly the same thing people often i think get the impression that you somehow have to go out and recreate the wheel and find some new great idea you don't it's absurd the principles haven't changed the principles exactly the same the exact application might be a little different but the principles haven't changed one of my favorite personal finance books is george clayton's rich men of babylon and its classic because he sets this financial allegory into the context of babylon three thousand years ago 4000 years ago something like that and he demonstrate how the principles are exactly the same and so one of the things that i've learned is simply that you can learn the skills of success and you can learn the principles of success in reality they're very very simple and the principles the actions can be applied in any culture in any context in any currency under any technology and once you see and understand that you see the consistent theme throughout society how to build financial success under any circumstances so if if there is a framework or a set up like that where you learn sorokin learn it wants the what can it keeps you motivated to continue learning.
"personal finance" Discussed on Radical Personal Finance
"Why from frisco texas this is master of money episode 37 radical personal finance with joshua sheets saving fifteen thousand dollars in to a roth ira what do i get i get a little bit of a tax deduction now and get whatever growth of mutual funds give him but now at second take that same fifteen thousand dollars and i can use that to buy four months of labour from somebody now that four months of labor is completely tax deductible and the benefits of labour viking hire a fulltime staffers of four months who can go out and help me ran as my marketing campaign who can help me do less fifteen dollar an our work and help me do more thousand dollar an hour the benefit of my pocket could be multiple six figures at the end of the year trust sheets is the creator of the radical personal finance podcast is the world's leading authority on integrating lifestyle goals and money goals without conflict he teaches normal people how to seamlessly connect science of financial planning with the joy of goal achievement josh was dedicated helping normal people achieve financial freedom by merging the creative and crazy ideas from the world of personal finance with academic integrity a formal financial planning in this episode josh when i have a long discussion about his truly radical journey with money we get into his past successes and failures and said some time going over his interesting goal for the future flipped again let's meet today's master money boom osceola welcome to the show awesome to be here to i'm so excited you doing this again i am an i am too and i'm anxious to hear more about your story obviously we've known each other for a few years now but uh it'll be good to kind of dig into the dirty details of your finances and take some lessons out ever a for others to explore so if i had that you didn't tell me to have by sheet ready artha if we're getting into dirty details.
"personal finance" Discussed on Radical Personal Finance
"Choices when i started recording radic personal finance four years ago i i didn't have some and i didn't have a clear philosophy that i was willing to say this is the philosophy but i'll tell you one thing that has become clearer i no longer advice i encourage basically all young people first goal ten grand in the bank and that's what you described 10 grand of the bank once you ten grand in the bank there are almost as almost there were you have tremendous flexibility second goal 100 ran in the bank when you got one hundred grand the bank available to you available to you not locked away in some retirement account that you have some emotional hang up out of taking out but 100 grand available to you there is almost no life choice but you can't make you can move from here to anywhere you can change from this job to that job you can start just about any business that you'd like to pursue you have freedom and you have a huge degree of autonomy and independence and i despise the way that we uh as little strong i don't like the way that we in the world run by the modern financial orthodoxy we take everyone's money and we put it away from them and so there are lots of people that i've council to have one hundred ram but as locked up in a 401 k account now that's a bit of a mirage you can still get it out but it takes that that comes with a lot of her chipman so i love hearing the freedom that you get so check out the podcast the wealthy healthy and i love that you are that you've built your own in that you're building your own encourage every listener build some little media project because there needs to be a diversity of voices people who are able to speak different languages both.
"personal finance" Discussed on Radical Personal Finance
"I find that i'm a very easy target for these people so radical personal finances helped me understand the financial environment a little bit better air it's helped me understand that there is a huge difference between high income and wealth and so that's what radical personal finance has done for me i have my own financial adviser and have done a lot of my own education on the side but i tune into you mostly because i want to hear your commentary so i want to hear you lab as others have said about what you think on various on various topics it's actually interesting to hear your thoughts process and that's really what i'm tuning into uh i believe you're wellread and i do think that your perspective on the personal finance space is very unique so i'm going to be continuing to listen and hopefully learning a lot the main changes that i have undertaken is that i started rethinking my idea without building wealth in the past that was all about mutual mutual funds and the common index funds and now it's more about investing in myself and investing in my side interests outside of medicine and trying to build social networks trying to build other other ways of generating income not so much because i'm trying to build even more wealth but because i feel that there is a lot more that a person can give back to the world and it starts it starts with me and that's what i'm investing being.
"personal finance" Discussed on Radical Personal Finance
"Still it was pretty disconcerting to realize that that have been going on for so long um i think we thought every line foul it's just an off month rda it'll be fine net the next month but never wise so um the i'll i'll add to that that unfortunately and as i have a master's degree my husband us tale where where were fairly well educated adults the by finance and money work for not his if 'expertise for heiss or or really interest allen but i decided that i had to get to the bottom of this and figure it out on the what what what were we doing and what can we do better because we make plenty of money there's no reason we should have felt set strapped um i i looked around online and i found all kinds of different shows like daveramsey in and what not that everything on it seemed too simplistic uh i really wanted to know the why and how will things on and faithfully so thankfully i found your show radical personal finance and it was just it was it was so um i opening and enlightening and uninspiring to tell you the truth um have devoured most of your archive i listen to all your new shows it has really inspired a curiosity and me that i had that i've ever had about a financial topics in investing um i had that about many other things that at the finance and and investing and never pendant just never been one of those subjects for me on.
"personal finance" Discussed on Radical Personal Finance
"Radical personal finance dot com slash patrons patrons uh always receive priority and receive access to these calls from time to time if i don't get enough insider enough calls from patrons of the show than i'll put out another a message somewhere else so for example this morning i put out a quick email to the email list uh and that's where a couple of callers today are joining us in from as well so make sure that uh if you have the financial means you mustn't of bucker to attend my way per month because he value radical personal finance i appreciate that you can do that right of personal finance dot com slash patron and in addition to that you can always come on by and make sure you join email us that doesn't cost you anything rejoined the facebook group direct personal finance facebook group i use both of those groups four notification sometimes i have to do it uh at the moment um i've choosing to limit the access to these calls just so i can do enough a'lem i probably this point could do a daily qna show and just open it up uh to the whole audience who knows maybe i'll do it at some point but right now that's now my plan go first to mark in washington state mark woken radic personal finance oh rebels retake recall go ahead with your question my wife and i and it background we've been following their deep area and we plan and air were unsure what we need to be doing i in their next step since the are looking to be moving internationally i'm moving back my wife country um there's a lot i could say on this that the basic point is we have concluded the.
"personal finance" Discussed on Radical Personal Finance
"Uh success doesn't isn't measured by metrics sometimes and things can be going really well from external pressure from an external perspective and just can not seemed to matter whether it's going well in terms of sales are downloads of a show or growth of an audience her income or whatever it that doesn't necessarily drive the person who's at the middle of it and that's what i've experienced uh just been really challenging the lost the vision i couldn't see the way forward i couldn't figure out how to accomplish what i am trying to accomplish the lack of a clear and working business plan as accomplishing my goals that made sense to me was not there and for lack of a vision people perish were there is no vision people perish and that's certainly been the case for me the last few months now my experience with business on growth in entrepreneurship and all the businesses that i've been involved in thus far is that they're cycles ups and downs ups and down ups and downs nothing that i've ever done has been just a consistent steady of success where everything to steadily goes up maybe it exists i admire people who are just a day in day out brilliantly consistent but i've never been able to do that doesn't fit with my personality and seems like just atomic get something working i blow it all up and so even the growth of of radical personal finance has been uh.