Real Personal Finance

Scott and James discuss the 5 employee benefits to get right during annual enrollment! NEW: 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! 4:25 - Retirement Contributions 10:59 - Credit Card Interest Rates 16:26 - Healthcare C...

Scott and James discuss if Roth or Traditional is better for FIRE (Financial Independence, Retire Early). NEW: We're on YouTube here! Listener Question: I’m wondering if I should change my 401k strategy from traditional to roth?  I’m a 35 year old high earner making around $175k a year plus bonus.  I’m currently maxing my traditional 401k plus a 5% match from my employer.  I need to work anot...

Scott and James discuss if you should dip into your retirement accounts to purchase a home. NEW: We're on YouTube here! Listener Question: Should I max out all of our retirement accounts and consider taking a loan against my 457b or take out contributions from my Roth IRA in order to make a sizeable down payment for this second home in the future? Or should I allocate a portion of that saving...

Scott and James discuss what to do when you receive a significant bump in income.  NEW: We're on YouTube here! Listener Question: I would like to do the more in-depth analysis you mentioned on today’s podcast if you are willing. We hope to retire in the next 5 years, at age 55/56. I am eligible to begin receiving a pension after this year, but plan to "double-dip" for the next 4-5....

Scott and James discuss if you should save your money for the future or spend it today. NEW: We're on YouTube here! Listener Question: I am 40 years old and want to know how I am doing. I have been through a divorce and a major job change and have been saving as much as possible, but it seems like I may have gotten to a place where I may be able to save less aggressively. I would really love...

Scott and James discuss where to invest excess income. NEW: 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! 4:19 - Anonymous Example 10:02 - Cash Flow 17:38 - Roth Contributions 22:41 - Risk Tolerance & Income Needs 25:37 -...

Scott and James discuss if your investments are too concentrated. NEW: 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! 5:03 - Individual Context 7:32 - Budgeting 13:45 - Importance of Tracking Efficiently 19:32 - Index Fund Adv...

Scott and James discuss how to understand the stock market. NEW: 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! 6:31 - What is the "market"? 10:28 - Investing in the "winners" 18:09 - What % Are The Major Co...

Scott and James discuss what insurances you need (and don't need). Planning Points Discussed Utilizing Time Efficiently Capital Appreciation Purchasing Power Other issues (IRAs, Inflation, Financial Goals, etc.) Timestamps: 2:30 - Insurance 7:01 - Proper Protection 10:41 - What Insurances To Avoid? 17:36 - Long-Term Care Needs 16:57 - Debt & Real Estate 25:31 - Aligning Your Financial Goa...

Scott and James discuss how this market impacts how we pull funds from 529 plans. Planning Points Discussed Utilizing Time Efficiently Capital Appreciation Purchasing Power Other issues (IRAs, Inflation, Financial Goals, etc.) Timestamps: 5:49 - Stocks & Bonds Correlation 9:58 - Cash Flow & Risk Level 14:49 - What Is A Good Rate? 18:50 - Additional Expenses 16:57 - Debt & Real Estate 2...

Scott and James discuss how to invest in stocks for beginners. Listener Question Sometimes I can tend to pull the trigger on things before doing enough due diligence. If I make a stock purchase and later am not sure it was the best decision, how long should I wait before selling the shares and moving on from that company. I'm not talking about buying a company and then a week later the stock...

Scott and James discuss how to understand your cash flow. Planning Points Discussed Utilizing Time Efficiently Capital Appreciation Purchasing Power Other issues (IRAs, Inflation, Financial Goals, etc.) Timestamps: 4:16 - Income  6:26 - Fundamentals 10:46 - Spending Isn't Negative 14:27 - Rules of Thumb 16:57 - Debt & Real Estate 21:12 - Tax Rates 25:45 - Aligning Your Financial Goals LET...

Scott and James discuss the pros and cons of using dividend investing to create passive income. Planning Points Discussed Utilizing Time Efficiently Capital Appreciation Purchasing Power Other issues (IRAs, Inflation, Financial Goals, etc.) Listener Question: What is your stance on dividend investing, with the goal of reaching a point where one can live off of "passive" income from divid...

Scott and James discuss how to understand your balance sheet. Planning Points Discussed Utilizing Time Efficiently Capital Appreciation Purchasing Power Other issues (IRAs, Inflation, Financial Goals, etc.) Timestamps: 6:17 - Having Multiple Accounts For Organization 10:08 - Goal-Based Investing Accounts 15:33 - Debt 20:25 - Net Worth Allocation 24:29 - Restrucutre Debt 26:48 - Aligning Your Finan...

Scott and James discuss how to invest during a bear market. Planning Points Discussed Utilizing Time Efficiently Capital Appreciation Purchasing Power Other issues (IRAs, Inflation, Financial Goals, etc.) Timestamps: 3:27 - What To Do As Investors Now 6:52 - Prices Are Reflected Today 11:03 - Averages Are In Your Favor 14:27 - Recovery Statistics 17:06 - Relatively "Normal" 17:44 - Align...

Scott and James discuss how to retire early. Planning Points Discussed Utilizing Time Efficiently Capital Appreciation Purchasing Power Other issues (IRAs, Inflation, Financial Goals, etc.) Timestamps: 2:05 - FIRE Movement 5:05 - Non-Traditional Retirement 7:25 - Social Security 10:09 - Additional Considerations 11:25 - Military Considerations 13:40 - Gap Fund 15:50 - What Will You Really Enjoy? 1...

Scott and James discuss how much company stock ownership is too much. Planning Points Discussed Utilizing Time Efficiently Capital Appreciation Purchasing Power Other issues (IRAs, Inflation, Financial Goals, etc.) Listener Question: I'm a manager at a blue chip company and they offer up to 20% of their stock in your 401K. Right now I have 8% of my 401K invested in company stock with the rest...

Scott and James discuss where to invest cash earmarked for a down payment. Planning Points Discussed Utilizing Time Efficiently Capital Appreciation Purchasing Power Other issues (IRAs, Inflation, Financial Goals, etc.) Listener Question: My wife and I have money (in cash, ~ $150k) earmarked for a down payment on a home.  There is no real urgency to buy a home other than setting down roots as our...

Scott and James discuss how to best mitigate risk in your investment strategy. Planning Points Discussed Utilizing Time Efficiently Capital Appreciation Purchasing Power Other issues (IRAs, Inflation, Financial Goals, etc.) Listener Question: I'm really enjoying your podcast and generally agree with your advice. I'm 37 and a personal investor who is focused on long term investments for r...

Scott and James discuss the benefits of Health Savings Accounts and how to maximize their impact. Planning Points Discussed Utilizing Time Efficiently Capital Appreciation Purchasing Power Other issues (IRAs, Inflation, Financial Goals, etc.) Listener Question: My question is around HSA's. Am I really missing out by not investing in this? I understand the power of tax advantage accounts, but...

Scott and James discuss if you should use an adjustable rate mortgage (ARM)? Planning Points Discussed Utilizing Time Efficiently Capital Appreciation Purchasing Power Other issues (IRAs, Inflation, Financial Goals, etc.) Timestamps: 1:10 - Mortgage Rate Options 4:17 - Mortgage Risk 6:38 - Payment Differences 10:27 - Additional Options 11:23 - Don't Push Debt Forward 13:45 - Aligning Your Fin...

Scott and James discuss how you can reduce taxes on side hustle income. Planning Points Discussed Utilizing Time Efficiently Capital Appreciation Purchasing Power Other issues (IRAs, Inflation, Financial Goals, etc.) Timestamps: 1:10 - Listener Question 3:25 - Taxes 5:50 - Retirement Contributions 7:43 - Retirement Contribution Maximums 9:14 - Solo 401(k) v. SEP IRA 11:35 - Can My Spouse Contribut...

Scott and James discuss what planning points to consider during a recession. Planning Points Discussed Utilizing Time Efficiently Capital Appreciation Purchasing Power Other issues (IRAs, Inflation, Financial Goals, etc.) Timestamps: 1:10 - What Can We Control 3:25 - Cash Flow 8:12 - Unemployment 10:13 - How To Withdraw in Retirement 14:42 - Roth Conversion 16:51 - Loss Carryover 19:33 - Aligning...

Scott and James discuss how to invest in down markets.   Listener Question With the markets increased volatiltiy in the past few weeks, we wanted to address how you can be investing amidst current market conditions. Thank you for submitting your questions and please continue to do so and we'll look to answer them in a future episode. Planning Points Discussed Utilizing Time Efficiently Capita...

Scott and James discuss how to account for matching contributions in retirement savings rates. Listener Question Wanted to find what both of yours opinions are on savings rate as it relates to employer match. I am currently saving 25% of my gross income between maxing out 401k, IRA and the rest to a brokerage, I bonds and ESPP. My employer matches 15% NEC on 100% income. I have a mandatory retirem...