Roger Whitney, age 51, calls himself The Retirement Answer Man. As a financial planner, investment analyst and podcast host, he focuses on helping Baby Boomers craft a traditional (past-age-60) retirement. Today, he joins me to answer two questions that come in from our community. Our first question is from Emily, who says: “I’m trying to…
A few years ago, my friend J.D. Roth told me a story that’s stuck in my mind ever since. ⠀ ⠀ During his 20’s and early 30’s, J.D. was broke and in credit card debt. But in his mid-30’s, he started a business, and within three years, he sold it for a significant sum. He…
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…