Once upon a time, in southern California in 1994, there lived a man named William Bengen. He read many claims, widespread at the time, that said that since the markets return at least 7-9 percent compounding rates on average, retirees could withdraw and spend 7 percent of their portfolio. William had a hunch that this…
Questions — I get questions! Today, I’m tackling four queries about real estate investing that come from the audience. Here are the details: Sam says: I work full-time and I’m not handy, so I definitely need a property manager. I’ve found an amazing property management company, but they only serve a small, specific neighborhood. Should…
I live in a two-bedroom condo. It’s furnished with a used couch and used coffee table. My shoe rack is made from old cardboard boxes glued together. Almost everything else in my home is from Craigslist, Amazon and Overstock. I consider IKEA to be a splurge. My favorite hobbies are hiking and camping (free and…
My friend and financial expert Farnoosh Torabi joins me to answer a relationship & money question from a listener named Janice.⠀⠀ ⠀⠀ Janice is engaged, and she calls to ask: Should she get married?⠀⠀ ⠀⠀ She earns double what her fiancé makes. She has no debt except her mortgage. Her retirement accounts are well-funded. He…
Stacy and her boyfriend would like to downsize to one vehicle. But they’re collectively $14,500 underwater on their car loans. Stacy owes $11,000 on her car, but its trade-in value is $7,200. She’s paying a 12.74% interest rate and her payoff date is 2021. Her boyfriend is in worse shape. He owes $18,500 on his…
Rachel Cruze was born the year her father, Dave Ramsey, filed for bankruptcy. During her childhood, she watched her parents transition from struggling and rebuilding from their bankruptcy, to becoming debt-free multimillionaires. Her dad went on to become the host of The Dave Ramsey Show, a money management radio show and podcast that reaches more…
This week, I answer five questions about real estate investing from the audience. Joelle asks: I own a home outright on the West Coast. I’m thinking about taking out $100,000 from my home equity, and using this money to buy a rental property. I found a community out east where I can buy a property…
Natalie Sisson was tired of the corporate world. She wanted freedom, adventure and fulfillment. In 2008, she quit her job and co-founded a tech company — but soon she discovered that running a company felt a lot like having a day job. Two years later, she quit her own company in order to truly strike…
How can I convince my spouse to invest in low-fee index funds? How should my fiancé and I combine our finances? If I’d like to invest in rental properties, should I also buy stocks? Former financial planner Joe Saul-Sehy joins me to tackle these audience questions and more. Thomas asks: My wife is suspicious of…
Tanja Hester and Mark Bunge used to have demanding but fulfilling careers as political and social cause consultants. While they loved the mission behind their work, they grew tired of the exhausting hours and grueling travel. Their home felt like a weekend crash pad. They had no time or energy to pursue outside passions like…