Ever feel like your money plan looks perfect on paper, but you’re still stressed out about it? While spreadsheets give us the exact math, how we feel about our wealth is a whole different story. Joe and I dive into the big gap between money logic and human psychology to help you find some actual…
Bill listened to our episode with Bill Bengen, father of the 4% rule, and he wants to know if there was a way for him to figure out how much money he should be keeping in cash.
Heather inherited an IRA but MUST empty it within ten years – but she doesn’t need it right now. What should she do??
Sheryl gets stock from her company, and she would usually sell it…but the stock value has decreased. And now, she isn’t sure what she should do.
Julie and her husband have access to an HSA for ONE MONTH. Can they max it out before they lose access to it?
In today’s episode, former financial planner Joe Saul-Sehy and I tackle these tough questions.
Do you have a question on business, money, trade-offs, financial independence strategies, travel, or investing? Leave it here and we’ll answer them in a future episode.
Enjoy!
Colleen and her husband own SEVEN paid off rental homes. Now they’re heading into retirement and disagree on what to do with some of that equity.
Kevin wants to hit FIRE (Financial Independence, Retire Early) and believes his motivation comes from witnessing the financial trauma of the Great Recession. He’s wondering if others are motivated to reach FIRE for similar reasons.
Anonymous wants to learn more about utilizing HSA accounts and Susan wants to learn more about investing in tax liens.
My friend and former financial planner Joe Saul-Sehy joins me to answer these questions on today’s episode. Enjoy!
Do you have a question on business, money, trade-offs, financial independence strategies, travel, or investing? Leave it here and we’ll answer them in a future episode.
Anonymous and her husband have set themselves on the path of saving for retirement. But an old mistake haunts them: a financial planner convinced them to buy a mix of whole and term life insurance, which costs them $700 per month. Do they need whole life insurance, and where else can they save their money?
Mike has $60,000 in cash earning one percent interest. He has plans to buy a home and get married in three to five years. Where else can he put his cash to earn a little more? Is the stock market too risky for such a short time horizon?
Anonymous and her future husband are wondering: what’s a realistic amount to spend on a wedding?
My friend and former financial planner Joe Saul-Sehy joins me to answer these questions on today’s episode. Enjoy!
Do you have a question on business, money, trade-offs, financial independence strategies, travel, or investing? Leave it here and we’ll answer them in a future episode.
Julia and her husband, both 27, want to retire by their early to mid-40s. Is there a point at which they should stop contributing to tax advantaged accounts and only contribute to taxable accounts?
Ana and her family like their home, but it needs to be bigger. A cash-out refi didn’t give them enough funds for their dream renovation. Should they put their money into the market in the hopes that it will grow large enough to fund a future renovation? Or should they move into a bigger house, rent out their house, and fix it up years down the road?
Anonymous from MA is flummoxed by HSA-compatible health plans. His copay and deductible are awful, and even bronze plans seem better. Are HSA plans overrated, or does the math work out?
Aja’s mom is 75 and has to take required minimum distributions from her IRA. She doesn’t need the money. Where should she put it?
Nick has a seasonal business. Can a sweep account help stabilize him?
My friend and former financial planner, Joe Saul-Sehy, joins me to answer these questions on today’s show. Enjoy!
Do you have a question on business, money, trade-offs, financial independence strategies, travel, or investing? Leave it here and we’ll answer them in a future episode.
After paying basic living expenses and maxing out their 401k’s and Roth IRAs, Caroline and her partner have $4,000 – $5,000 left each month. Where should they put this money if their goal is to simply have their money work harder for them?
Sanjay is torn between selling his townhome or renting it out. The rental numbers don’t work on his 15-year mortgage — should he refinance to a 30-year mortgage instead?
“Olivia” has two unrelated questions: what are our thoughts on the housing market in relation to the moratoriums on mortgage payments and emergency bans on evictions? What will happen when they go away? Additionally, what tools, questions, or resources do we recommend to have a productive financial conversation with your partner?
Kyle wants to construct a portfolio with the highest Sharpe ratios and wants to know: would the risk parity model work? What are the downsides?
“Priyanka” wants to know: do you need to submit receipts for the HSA contributions you make?
G is curious: does the stimulus check received for their children count as earned income for the kids? If so, can they put it toward the Roth IRAs they opened for their children?
My friend and former financial planner, Joe Saul-Sehy, joins me as usual to tackle these questions. Enjoy!
Joe has a 24-year-old friend who won a $1 million settlement. How can she use this money to set herself up for financial independence?
Jay is 52 years old and wants to retire at 59.5. He began investing in individual stocks to achieve this goal, and has had excellent returns so far. Is this a sound plan for early retirement? Or should he work until age 62 for Social Security?
Steve is 54 years old. He plans to retire at 60, which is when he can collect 67 percent of his pension. A Vanguard advisor suggested that he direct some of his 403b contributions as Roth contributions, rather than pre-tax contributions. Should he act on this suggestion?
Brit wants to know: is it possible to invest in the S&P 500 Fossil Fuel Free Index through Vanguard?
Anonymous in New York City wants to invest their HSA contributions this year, but the expense ratios seem high. Can they move their HSA to a different provider? What fees are normal for HSAs?
My friend and former financial advisor, Joe Saul-Sehy, joins me on the show to answer these five questions. Enjoy!
Avie is looking for help in deciding between two good options: paying off a rental property, or funding a retirement account. Which option should she go with?
Sofia’s parents have been living with her for the past few years, but her job is taking her out-of-state. How should she transition her home to a rental property for her parents?
Lisa has a question about HSAs: when do you actually fund your HSA account?
Jim grew up frugally and has no qualms with this lifestyle, but his wife doesn’t share his views. He’s curious about how he can bring her to the frugal side, and how he can approach opening her eyes to starting a business so that she can stay at home with their kids.
Candice asks: what are your thoughts on online real estate investment crowdfunding platforms?
Kristen has a mortgage on her primary residence and a rental property. They’re both at similar interest rates. Which one should she focus on paying off first?
I answer these questions in today’s episode of the show. Let’s dive in!
Imagine that you’re going to take a 6-month to 9-month mini-retirement. How should you plan? What should you do? Sure, you’ll need to have enough savings to cover your expenses. You might want to find some part-time work. You may need to sell off a few investment. And of course, you’ll need to think about health insurance.
But what else should you consider? And how will your first taste of voluntary unemployment impact your mental and emotional health?
Former financial planner Joe Saul-Sehy and I discuss this in today’s podcast episode.
We also answer a question from a New York-based father of two who’s trying to choose a health insurance plan.
We talk to a woman who wants to roll her six-figure SEP-IRA balance into a Roth IRA account.
We answer a question from a listener who’s moving back to Amsterdam with his wife and two children, and is wondering what to do with his 401k in the U.S.
And we answer a question from a man who’s wondering if he should invest in a taxable brokerage account, rather than focusing on so many tax-advantaged retirement accounts, so that he can more easily access this money before he turns 59 and a half.
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Should a 25-year-old homeowner with healthy savings and no debt (other than his mortgage) upgrade his car? Should he make this choice if his current car is fine, and upgrading puts him into new debt?
Should a couple without access to an employer-sponsored retirement plan put their savings into a taxable account, or should they save for a downpayment on a rental property?
The market is fluctuating like mad; if someone has a lump-sum of cash, should they invest it now or should they slowly meter it in?
Should someone without an emergency fund enroll in an HSA-qualified health insurance plan? Or should they stick with a plan that has a smaller deductible?
How should a husband-and-wife team that’s self-employed and running a company together handle their health insurance?
Former financial planner Joe Saul-Sehy and I answer these five questions on today’s podcast. Enjoy!