Finerate

What does risk tolerance mean and how important is it in forming your investment strategy? What should you keep in mind as you start to invest? How do you know when to listen to your gut feeling about an investment decision and when not to? Bill discusses at what point after the 2008-2009 financial crisis that he knew the financial markets were about to improve. Anastasia compares risk tolerance t...

How does Bill advise his clients when it comes to paying for adult children? What are the pros and cons of continuing to financially support children into adulthood? And for children, how important is it to discuss finances with parents, and when should that discussion begin? On the other hand, how do parents instill a sense of financial independence if their children know they can afford to pay f...

Which should you focus more on for wealth creation: Spending less money, or making more money? Bill and Anastasia discuss an example of buying a used car, as depicted in The Millionaire Next Door by Thomas J. Stanley. How important is it to learn how to spend less money? What are some examples of simple ways to save money? On the other hand, can you be too focused on saving money? Bill provides co...

What are the benefits of paying with a credit card vs. paying with cash? As society transitions to more and more cashless based transactions, what are some important things to keep in mind as a consumer? Bill gives a brief overview of the history of the credit card industry, discusses the pros and cons of using credit cards, and Anastasia mentions what one of her favorite science fiction writers,...

What should high income earners do once they have maxed out their tax advantaged accounts? What is a back door Roth? In what scenario should you invest in the stock market yourself and when should you consider hiring an investment manager?  Bill and Anastasia continue their discussion from Investing in Common Stock, Part One to answer more specific questions about how young high income earners can...

How do you invest in the stock market and what is really important to keep in mind as you do? Bill and Anastasia follow up on the Intro to Investing episode with specific questions related to how an investor should approach the stock market and how to get started. Bill analogizes his favorite sport baseball to common stock selection. This is Part One of a longer discussion between Bill and Anastas...

What are the different kinds of financial professionals you can work with and how are they compensated? Bill and Anastasia discuss the duties of a financial planner, investment manager, asset manager, and wealth manager, as well as the differences between a Registered Investment Advisor (RIA) and a broker. This episode serves as a basic introduction to the financial services industry. For question...

How do you approach a discussion of financial habits and goals with your life partner? Bill and Anastasia discuss the importance of being on the same financial page with your partner and what that might look like. What if one person is a saver and the other is a spender? Bill describes some of the obstacles he has seen couples face and his joy in being a father. For questions and comments, you can...

Everyone has a vague awareness that the U.S. national debt is a problem, but exactly how big of a problem is it and what does it mean for the average citizen? Bill and Anastasia discuss how the pandemic has exacerbated the issue and what steps people can take to address it. For those wanting a refresher on how the economy works, Bill mentions a highly informative 30 minute video done by Mr. Ray Da...

Bill and Anastasia discuss the basics of owning a savings account--the first step to building wealth. What is the difference between a savings account, a checking account, and an investment account and what should you use them for? What does it mean if your account is FDIC insured? What do you need to know about the different savings accounts you can own (e.g.- a money market fund) and what do the...

How do you begin the practice of investing if you're new to it? Bill and Anastasia discuss the basics:  How to get started with investments, when to hire an investment advisor (the three Ts), and why younger generations especially need to contribute to a 401(k) or other retirement savings account. For questions and comments, you can email us at  askcreatingwealth@taberasset.com .

What is having an abundance mentality and how does it relate to your finances? Bill and Anastasia discuss how thinking abundantly, or positively about money, can set you up for financial success. Bill shares a time in his life when he discovered the importance of having an abundance mentality and Anastasia shares her experience of thinking positively during her first ski lesson. For questions and...

The COVID-19 pandemic has raised a series of questions of how people should approach personal finance. In this special episode, Bill and Anastasia discuss how their quarantines are going, how people should handle their finances during this time, and provide perspective on how this economic crisis relates to past ones. For questions and comments, you can email us at askcreatingwealth@taberasset.com...

When you're new to budgeting, it's hard to know how to get started. Bill and Anastasia provide insight in how to approach budgeting if you're new to the practice, or offer a refresher for more experienced budgeters.  For questions and comments, you can email us at askcreatingwealth@taberasset.com .