Save Like Dave Podcast

4 out of 5 parents wish they learned more about money as a kid and 59% of parents are uncomfortable talking to kids about money. On this Podcast, we are going to discuss some financial words that you may have heard but don’t really ‘get’.  I hope it helps a bit on your financial journey and a few suggestions to take you to the next step on YOUR way to financial success. Do you understand the basic...

One of the first steps in overcoming poverty is to receive an education. With each year of schooling, an individual’s income potential increases by around 10 percent. With more education, one has more opportunities. Today, Dave is going to get into specifics on how YOU can become educated in personal finance. He is going to show you a simple process to help you to understand how to navigate the me...

When Dave was younger, he learned a bit about finance but he soon realized he needed a professional to go to the next step. In 1991 he bought 100 shares of Microsoft @ $47 a share and 11 months later he sold it at $78. He made $3,100 in less than a year and proceeded to think he was a genius. Unfortunately, that's not the whole story. Listen in to this week's episode to learn from one of Dave's ea...

According to Morningstar (a firm that analyzes and rates mutual funds), over the last 10 years ending December 31, 2021, the average rate of return of all mutual funds is 8.51%.   That is looking at large, medium, and small-cap funds as well as international funds and bonds. Basically, that's all different types of stocks and bonds averaged out.   That is a whole lot better than what you can get i...

A recent survey found that 71% of people think social security will run out! Are you one of them? Do you believe that when you get to retirement age there will no longer be money left there for you? Is that true? Listen to this week's podcast as Dave shares 4 of these common financial myths that are being perpetuated today as Dave questions their validity. Remember that ½ of the people retire earl...

Are you in the camp that says I prefer to live my life now with all its benefits, OR are you a person that delays gratification for a future reward?   Listen to this, if you put the same amount of money in a traditional IRA and the same amount in a Roth IRA at the same time and received the same return, you would have the exact same amount at retirement… right? Yep, that's certainly true. However,...

Today we’re going to discuss a financial product that is in my opinion THE BEST way to achieve a truly awesome retirement! Do you know why?  If not, please take a minute and I’ll share with you about a financial product called a Roth IRA and why it’s so important to your future as a retired person. First of all, just saving for your retirement in an IRA is awesome! If you do that, you’ll be furthe...

Are you on track for your retirement? If you are, FANTASTIC, if you are not, or maybe are just not sure, stay with me here and we are going to do our best to help you in your personal finances. Learn all that and much more on this week's episode as Dave breaks down 3 things to consider when you ask yourself, "Am I saving enough for retirement?!" Here's another probing question for you. Do you tend...

In most of my prior podcasts, I’ve covered things you can and should do to be successful in your personal finances. Well, today I want to share a couple of financial decisions that you may not necessarily need to do. The two main pieces of financial advice that Dave discusses in this episode are target rate retirement funds and revocable living trusts. Perhaps, you might be wondering what exactly...

92% of people who set New Year's goals do NOT achieve them!  Wow, that is very unfortunate. Today we’re going to talk a bit about the other 8%. Which one do you lean towards, thinking or doing ? Let’s see where you fit in and how you can improve your odds on this week's episode. There is a balance between thinking and doing. Change does not come easily but with the right plan, it can be done. It's...

Just under 5% of people in the age group of 18-55 years old Americans are early retirees. I recently read a story of a guy who retired at 37 only to go back to work only 2 years later. He found that retirement was sorely missing 3 things: human connection, work fulfillment, and money. Stopping work is not the be-all, end-all for some people. Work can be exciting, rewarding, and a key to your perso...

Believe it or not, according to the statistics, 70% of lottery winners end up broke and a third go on to declare bankruptcy. With this new windfall of cash, lottery winners tend to spend way more than before they hit it big... and once you add in poor investment choices they burn through the money in next to no time. From rags to riches then back to rags again. In this episode, Dave is going to he...

We spend our lives working hard and dreaming of the day we can finally retire... But planning for retirement requires more than dreaming — it means being strategic and focused on consistent saving, among other things. In this episode, Dave shares 6 stark differences (from this article ) that separate comfortable retirees from those retirees that are just struggling to get by. As a whole, you can m...

Currently, millennials spend more than $3,000 a month on eating out. Is that you? Do you fall into that category? In this episode, Dave walks through 4 meaningful expenses that you can cut out or likely lower with just a tiny bit of focus. If you are challenged financially during these crazy times, please know that you are not alone. If you're struggling, but don’t know where to start, this is the...

How much money has the average 30-year-old American saved? The median bank account balance for this age group is just $3,240. In this episode, Dave compares and contrasts 3 different countries' savings rates. The 3 countries explored are China, the United Kingdom, and Germany. Each one of these countries has a very different savings rate and the important thing is it doesn't completely depend on h...

Eric Roberge, a Certified Financial Planner, can tell if you are good with money by how you handle these 3 things. What are these three things you ask? Listen and learn on this week's episode. Are you a saver or spender?   We touched on this topic in podcast #8, but if you tend to be a spender, I want to challenge you today to think differently and to set up processes to change that behavior. In t...

According to the Center for Retirement Research, 53% of US households are at risk of not having enough saved for retirement to maintain their current lifestyle. ...Yikes, that's over ½ of the U.S. population. In this episode, Dave shares how sometimes the littlest things can keep you from being a good saver. In many cases, there are tiny friction points that prevent you from taking action. When we...

Have you ever wondered how much is enough to retire? Are you concerned you're not on the right track for retirement? In this episode, we are going to share some cold hard facts on just how much you need to have saved for retirement. You are going to learn why the total retirement savings needed in large part depends on where you choose to live. Although each family's amount is different based on t...

Sports Illustrated estimates that 80% of retired NFL players go broke in their first three years out of the League. How is this possible in a sport rolling in revenue with an average salary of almost $2 million a year? Thankfully, Jimmy Garoppolo decided he wasn’t going to be like everyone else. Are you a natural saver or a spender ? Maybe you are like JimmyG and have to force yourself to be more...

Today we are going to tell you about a somewhat secret money hack that very few Americans are taking advantage of. It’s a benefit so good, you’d be crazy not to do it.  Right now, only 15 percent of Americans taking advantage of this tax savings benefit. In this episode, Dave walks us through two different examples from two different couples who each saved the exact same total amount. That said, w...

I hate to be morbid, but have you ever thought about what would happen if you were to suddenly die unexpectedly? In the United States, 7 thousand people die every day. Over half die without any life insurance. So, 52% of people who die every day do not leave anything behind for those they love most. Would you be able to provide for your loved ones if things were to change for the worse in an insta...

Does the word frugal scare you? Perhaps it has a negative connotation around it for you. What if I told you that being frugal can actually be quite fun and rewarding. In this podcast episode, you are going to learn how you can succeed with money by spending less .  I’m sure you have a friend or know someone that’s making more or twice as much as you… but good news, your fate is not set. Even if yo...

There's one key ingredient to your success with saving. Learn all about it and how you can implement it on this Save Like Dave episode. First, let’s do a little imagination exercise. In each case, you save $10,000 a year. The younger saver starts at age 25 and only saves for 15 years. So $10,000 X 15 years is $150,000 saved after those 15 years. The older saver starts saving at 35 and saves his or...

Dave shares another personal story in this episode as he walks through how he helped his sister save for retirement. His sister was generous and loving, but she was in big trouble when it came to her future. Despite not having saved for the first ten years of her career, she was able to completely change her financial future by following through on a simple method that Dave lays out in this episod...

Have you ever sat down and thought intently about where your money goes? Did you know that winning in finance is 80% behavioral and only 20% knowledge-based? Are YOU getting excited yet about the idea of being financially free? ... I hope so! In this episode, you are going to learn 9 practical money-saving tips for you to start winning with money. A life well-lived is all about living with intenti...