Real Personal Finance

How do you secure your retirement against an uncertain future? In this episode of “Real Personal Finance,” Scott Frank, founder of Stone Steps Financial, and Meg Bartelt, founder of Flow Financial Planning, LLC, explore strategies to predict future expenses and ensure financial readiness, even if retirement is decades away. They address a listener question about preparing 26 years ahead, covering...

Rethink  your charitable giving and maximize your tax benefits with Donor-Advised Funds. Discover how this streamlined and tax-efficient alternative to traditional donation methods might just be a game-changer to your financial strategy. Scott and Meg contrast DAFs with conventional giving methods like checks and credit cards, to paint a clearer picture of their advantages. They also address commo...

Are you using your Health Savings Account to its full potential? HSAs are great for covering immediate healthcare costs, but with careful planning, they can also become a strategic part of your long-term wealth plan. This week, Scott Frank, founder of Stone Steps Financial, and Meg Bartelt, founder of Flow Financial Planning, LLC, take on HSAs, sharing the ins and outs of eligibility, their triple...

Deciding what to do with your stocks can prove to be a problem, challenge, and opportunity all at once. With a huge portfolio in front of you, what can you do to slim it down? This week, Scott Frank, founder of Stone Steps Financial, and Meg Bartelt, founder of Flow Financial Planning, LLC, provide insights on how to cut down on your stocks to achieve the life you’ve dreamed of.  We have emotional...

Is your cash currently sitting under your mattress, withering away with inflation? While stashing your cash seems like a safe bet, it limits your access to investment opportunities. With inflation rising, the value of your cash may not have the longevity you hoped for. If you currently have a pile of cash and are asking yourself, “Well…what now?” this week’s episode of “Real Personal Finance” guid...

What does being financially independent mean to you? Those chasing FIRE (Financial Independence, Retire Early) are choosing to live frugally now to achieve early retirement. FIRE is a means to unlock a life where work is optional and the freedom of choice reigns supreme. Scott Frank, founder of Stone Steps Financial, and Meg Bartelt, founder of Flow Financial Planning, LLC, discuss the movement&ap...

Does your anxiety spike every time tax season rolls around? The possibility of receiving an unexpected tax bill can bring a sense of dread to the entire month of April. We all have to pay taxes, but we don’t have to stress about them. Scott Frank, founder of Stone Steps Financial, is joined by Meg Bartelt, founder of Flow Financial Planning, LLC, to simplify conversations around money and tax plan...

Scott and James thank all of the fans for years of support for listening to the podcast and review where you can find them if you're looking for customized advice when it comes to maximizing your finances.  LET'S CONNECT! James YouTube | Website | Podcast Scott Facebook | Twitter | Website

Scott and James discuss how to balance a home purchase with saving for retirement. Listener Question: We want to stay in manhattan and want to be home owners but can’t make the math work. Our current rental 2 bed 2 bath just went up to $4400/mo. A comparable condo would sell around $1.3-$1.5m. That would put the mortgage at around $7,000 with another $2,000-$3,000 in maintainable and taxes a month...

Scott and James discuss what to do if you make too much to contribute to a Roth IRA. Listener Question: I am currently 33 years old, single, and am nearing a $129,000 annual salary. I have been investing in a Roth IRA and realize the phaseout limits for single taxpayers are from $129k - $144k. My question is, how do I lower my income, besides contributing to my traditional 401k, so I can keep cont...

Scott and James discuss whether or not an MBA is worth it. Planning Points Discussed Utilizing Time Efficiently Capital Appreciation Purchasing Power Other issues (IRAs, Inflation, Financial Goals, etc.) Timestamps: 2:30 - Listener Quesiton 5:30 - Why MBA? 7:46 - Pros/Cons of MBAs 8:30 - Debt v. Investing 16:05 - Aligning Your Financial Goals LET'S CONNECT! James YouTube LinkedIn Website Scot...

Scott and James discuss the tax implications of withdrawing income from various accounts in retirement. Listener Question: Can you talk about how some of the main retirement accounts are taxed upon withdrawal?  Example topic: Are withdrawals just subject to Federal taxes, or FICA taxes as well? And how / if withdrawing from retirement accounts affects eligibility / taxes you have to pay on social...

Scott and James discuss how to reduce costs inside of your company's 401(k). Join the Real Personal Finance Community and click on "The Nation" We're on YouTube here ! Listener Question: What is a good expense ratio for a retirement account? Is this something you can control with an employer sponsored plan? I want to make sure my money is working for me and I am maximizing my r...

Scott and James discuss how real estate should factor into your retirement plan. Join the Real Personal Finance Community and click on "The Nation" We're on YouTube here ! Listener Question: Me and my wife enjoy doing live and flip rentals and are planning on the cash flow to be part of our retirement funds. We are planning to move in a year and would like to pick up a third house t...

Scott and James discuss how to best diversify a concentrated stock holding. Join the Real Personal Finance Community and click on "The Nation" We're on YouTube here ! Listener Question: How do I exit a concentrated stock position? I’m an employee at a large tech company and I’ve vested RSUs over the last 4 years. Some of my stock has appreciated 4x since I was granted it. My non-com...

Scott and James discuss how 5 things to start the new year right with your finances. Join the Real Personal Finance Community and click on "The Nation" We're on YouTube here ! Planning Points Discussed Utilizing Time Efficiently Capital Appreciation Purchasing Power Other issues (IRAs, Inflation, Financial Goals, etc.) Timestamps: 2:30 - We're on YouTube HERE! 6:17 - Financial...

Scott and James discuss how you should choose your survivor benefits options for your pension. Join the Real Personal Finance Community and click on "The Nation" We're on YouTube here ! Listener Question: I'm not sure if this can be a whole show but I was wondering if you guys can go over how to think about choosing between the Survivor Benefit Plan (SBP) and whole or term insu...

Scott and James discuss misleading financial rules to avoid. Join the Real Personal Finance Community and click on "The Nation" We're on YouTube here ! Listener Question: How do you both think about the common wisdom that you should have a certain multiple of your income saved by a specific age (e.g. save at least 1x your salary by 30, 3x by 40, 6x by 50, 8x by 60, and 10x by 67)? I...

Scott and James discuss annuities and announce Real Personal Finance NATION! Join the Real Personal Finance Community and click on "The Nation" We're on YouTube here ! Listener Question: I've met with multiple financial advisors and all of them have 2 things in common. 1. They all say they are Fiduciary. 2. They all try and pitch me on various types of annuities to supplement o...

Scott and James discuss the best way to enter the financial planning industry as a career changer. Wilson Liu Financial Resources We're on YouTube here ! Listener Question: I really enjoy your podcast. I've had a 10-year career in nonprofit development, but I've had a passion for investing and personal finance since I was a little kid. I'm trying to pivot into wealth management...

Scott and James discuss how you can know when you're financially free. NEW: We're on YouTube here! Listener Question: If you think we can step away from work when I hit "my number" whether it be at age 49 or 54 - knowing that I would only pull approx 3% from my brokerage until I reach 59.5. My goal would be to leave FT work at age 50, and have my wife and I only work PT or cons...

Scott and James discuss the most how individual stocks compare to investing in funds. NEW: We're on YouTube here! Listener Question: I listen to your podcast and it has inspired me to invest however, I have invested into individual stocks and it has lost around 50% of its value so I invested money into VOO because I thought it was safer and I continue to invest $55 every two weeks im 18 and t...

Scott and James discuss the most effective way to incorporate giving into your financial plan. NEW: We're on YouTube here! Listener Question: Am I on track to retire at 52? Am I over-investing in retirement at the expense of more freedom now? How would you recommend incorporating pension plans into overall retirement planning (ideal year:pension percentage break-even point?)?  Planning Points...

Scott and James discuss if you should ever purchase your home fully in cash. NEW: We're on YouTube here! Listener Question: I’m 27 and my goal is to have a paid for house by the time I'm 45. In the next 18 years, if I save and invest aggressively will I have potentially have enough to pay in cash or is it better to get the mortgage when I'm able to and pay the interest because house...

Scott and James discuss how a pension fits into your overall retirement plan. NEW: We're on YouTube here! Listener Question: Am I on track to retire at 52? Am I over-investing in retirement at the expense of more freedom now? How would you recommend incorporating pension plans into overall retirement planning (ideal year:pension percentage break-even point?)?  Planning Points Discussed Utiliz...