Jake Of All Trades

Jake and Kirk discuss the prospect of a divided government and why the marketplace is loving that right now. When they recorded this episode, the Presidential election was still undecided. Much of their assessment was based on the projection that Joe Biden would win President and that Republicans would maintain control of the Senate.   *“Tax preparation, planning, IRS representation, and business...

On this episode Jake and Kirk discuss a Wall Street Journal opinion piece that pits two different opinions on this issue. One side claims that the whole system of student loans is broken and thus should be forgiven, the other says that the system is not perfect, but it works and loans should not be forgiven. You won’t be disappointed by the interesting discussion between the two hosts!  https://ww...

On this episode Jake and Kirk react to a video of Dave Ramsey explaining his secrets of the rich. While there are some aspects in which Jake agrees with Dave, there are many areas of disagreements. Most notably, the ways in which Dave Ramsey obscures the truth. Tune in for a fun reaction video! *“Tax preparation, planning, IRS representation, and business valuation services offered through iFile T...

Many of us believe this presidential election may be the world’s last. Doom and gloom are everywhere on our feeds these days. One of the dangers of acting out of emotion is making financial mistakes that can harm us long into the future. On this episode, Jake and Kirk go through a presentation of 10 truths, (with graphs) to prove that things won’t be so bad no matter who wins the 2020 election LIS...

Many of us believe this presidential election may be the world’s last. Doom and gloom are everywhere on our feeds these days. One of the dangers of acting out of emotion is making financial mistakes that can harm us long into the future. On this episode, Jake and Kirk go through a presentation of 10 truths, (with graphs) to prove that things won’t be so bad no matter who wins the 2020 election. *“...

On this episode Jake and Kirk react to a Joe Rogan Experience podcast clip. In this one Peter Schiff and Joe discuss the causes of the outrageous student loan expenses. Jake and Kirk give their commentary, including some interesting disagreements of Maestro Schiff. *“Tax preparation, planning, IRS representation, and business valuation services offered through iFile Tax Planning and Preparation Se...

In this two part episode Jake and Kirk go through a recent Wall Street Journal article that presents 30 pieces of advice given by financial experts from various professions, each explaining a unique mistake people make during a recession. The article has CEOs, CFOs, financial analysts, CFPs and everything in between. Jake and Kirk read each piece of advice and give you their take on each one. http...

In this two part episode Jake and Kirk go through a recent Wall Street Journal article that presents 30 pieces of advice given by financial experts from various professions, each explaining a unique mistake people make during a recession. The article has CEOs, CFOs, financial analysts, CFPs and everything in between. Jake and Kirk read each piece of advice and give you their take on each one. http...

On this episode Jake and Kirk discuss an article by the New York Times which gives financial guidance to young professionals during this pandemic. Kirk explains some of the lessons he has learned as well. Some of the guidance given may sound familiar, but there are some profoundly new perspectives to consider. Here is the article: https://www.nytimes.com/2020/08/29/at-home/manage-finances-save-mon...

On this episode Jake and Kirk will be reacting to a clip from the Joe Rogan Experience with guest Peter Schiff. Joe and Peter discussed various aspects of the effects of shutting down the economy, from monetary effects to commercial real estate and more. You’ll be able to hear this clip from Rogan and hear Jake and Kirk’s responses and commentary. *“Tax preparation, planning, IRS representation, a...

In this episode Jake and Kirk discuss an article in The Economist about the art and science of bubbles. Today, with the advent of day-trading apps like Robinhood, bubbles have become more prevalent and harder to identify. In this show we discuss what a bubble is and is not and why they are important to understand for our financial future. Here is the article: https://www.economist.com/finance-and-...

In this episode Jake and Kirk investigate (or try to wrap their heads around) the executive order to defer payroll taxes. Defer till when you say? Well you’ll have to listen to the show! (ok we don’t know either). What is this order supposed to accomplish? What is it really all about? What’s President Trump’s agenda? Check out this episode to find out our thoughts on this order. And visit us on Fa...

In this episode Jake and Kirk discuss the Robinhood app, a new global phenomenon where millions of people can trade in individual stocks with just a few dollars. Jake discusses how to think about using this app in your financial portfolio, and whether or not it is healthy to use it as an important investment tool.   *“Tax preparation, planning, IRS representation, and business valuation services o...

Jake and Kirk discuss FAANMG (Facebook, Apple, Amazon, Netflix, Microsoft, Google) and ask the question: Is the rise of these enormous corporation a sign of a dystopia? We discuss what a dystopia is and some of our favorite dystopian novels. They also come to a very insightful idea about how reading dystopias can help you plan for your financial future. *“Tax preparation, planning, IRS representat...

Do you plan on retiring? Many Americans are beginning to believe this will be a dream they never achieve? In this episode Jake and Kirk discuss the idea of retirement, and some alternative ways to achieve “retirement,” without actually “retiring.” Also, Kirk proposes a plan to solve all of our social security and college debt problems. *“Tax preparation, planning, IRS representation, and business...

Is it a bad thing? Jake and Kirk discuss an article about the biggest tech companies in the world, “FAANMG” Facebook, Apple, Amazon, Netflix, Microsoft, Google. These six companies collectively are driving the US economy, despite the actions of the U.S. government. Can there be positives in this trend? Tune in and share your thoughts. Article: https://ritholtz.com/2020/07/big-tech-drives-stocks/ D...

With the pandemic, protests and civil unrest, many people are asking big questions about the future of our world. One of those questions has to do with the way in which we invest. Investing for pure financial gain may only be one way that future investors may be thinking about their investments. Some investors—perhaps you?—may be interested in investing with their hearts and minds rather than sole...

In this episode Jake and Kirk explore aa graph that shows how various groups of Americans are spending the trillions of dollars that has been injected into the economy. *“Tax preparation, planning, IRS representation, and business valuation services offered through iFile Tax Planning and Preparation Services are separate and unrelated to Commonwealth.” Have questions about managing your financial...

There are many good financial books that have become popular. Some books like The Richest Man in Babylon profess to share fundamental and timeless insights on how to become wealthy. There are popular books like “I will Teach you to Be Rich,” which claim to give readers insights into the habits of the wealthy. There are also many simple books that give important advice from practical wealth builder...

With interest rates near zero, many are asking if it is a good time to buy that house, refinance their mortgage or even get a private loan for their student debt. Jake Rivas and Kirk Barbera discuss times when this  may be a good move for someone and times when it may not. Even though interest rates are low, it may not be a good idea for some. Tune in to learn the financial concept used by profess...

How can the stock market appear to be rising as the world ventures further into chaos? Unemployment is still increasing, protesting and looting are occurring and many places are still under quarantine. It would seem logical that the stock market would decrease accordingly, and yet we find that during some of the darkest moments it had actually been on the rise. Jake explains why this happens and h...

Can we make future decisions based on the past? The advice given by financial advisors for decades has been to diversify your portfolio and have a long term time horizon for your investments. This advice is based on a glimpse into the past. But what if the future is dramatically different than the past? At what point can we say new financial advice needs to be construed? Jake and Kirk explore this...

The Coronavirus, AID, Relief, and Economic Security ACT (CARES) has been passed, but how does it effect you? This is a 2.2 TRILLION dollar bill (watch Kirk have his mind blown). We all know about the $1,200 checks, but who do they go to and how are they going to receive them? This is only one small part of the act. Jake and Kirk don’t cover every detail of this massive bill, that would take days,...

Your dreams can be built on a river of poop. That’s right. This is a terrible time for a young person to go out into the job market. We have record unemployment and a recession that may rival the 2008 Great Recession, which Millennials experienced back in 2008. Jake and Kirk discuss the general advice they got and lessons they learned from the great recession. *“Tax preparation, planning, IRS repr...

Eventually we will re open our economy. And according to epidemiologists like Dr. Amesh Adalja at Johns Hopkins, this virus is here to stay and a vaccine is 12-18 months away best case scenario. This means that there will be a time soon when we reopen and live with coronavirus. That brings up the question, what will the world look like? How might this effect your pocket books, your business, your...