The Financial Philosophers

Send us Fan Mail In today's episode, Chris and Danny challenge you to earn is as much money as you can by taking one PTO day and doing some financial spring cleaning. Do you think $2,500 is an unrealistic number? You might be surprised by how much you can make! Chris and Danny will share some real life stories, as well as give some tips on how to clean up your finances (and make money!) on yo...

Send us Fan Mail Chris and Danny have a challenge for you. The $50,000 Challenge. Do you think you can handle it? Approximately 60% of Americans cannot come up with $1,000 in an emergency. Furthermore, approximately 60% of Americans have less than $50,000 saved for retirement. In today's episode, Chris and Danny discuss this thought-provoking challenge, and they hope it inspires you to take a...

Send us Fan Mail Everyone has heard the term "diversification" before. Most people have also been told it is important to be "diversified" in their portfolio. However, most people do not fully understand what diversification means. In today's episode, Chris and Danny have a candid conversation about the diversification puzzle and why it is so challenging. They discuss the...

Send us Fan Mail Many people are interested in learning more about how dividends might complement their portfolio. However, did you know there is a difference between ordinary dividends and qualified dividends? In today's episode, Chris and Danny have a nerdy deep dive conversation about qualified dividends. How are qualified dividends taxed, and what advantages do they offer? How might divid...

Send us Fan Mail In today's episode Chris and Danny discuss a motivating thought experiment about paying off debt. Many people are motivated by the idea of saving up enough money to provide passive income to support their living needs. A similar motivating idea can be explored with paying off debt. The less debt one has, the less income they actually need to support their needs. Putting this...

Send us Fan Mail In today's episode, Chris and Danny continue their conversation about investment returns. Topics covered include simple interest vs. compound interest, how not all interest compounds the same, APR vs. APY, and common misconceptions people have regarding fixed returns found in cash-like instruments (e.g., savings accounts, CDs, money market funds, etc.)  and fixed income asset...

Send us Fan Mail In today's episode, Chris and Danny have a casual conversation about what investment returns actually mean. Many people get hyper fixated on their investment returns, but don't actually understand the full picture. Do you know the difference between time-weighted and dollar-weighted returns? Did you know that using terms like "I made money" or "I lost mone...

Send us Fan Mail In today's episode Chris and Danny have a discussion with Anson Young from The Property Squad podcast. Anson is a real estate investor, real estate agent, and author. You can also find Anson's content on BiggerPockets. Our discussion with Anson covers the pros and cons of house hacking and real estate investing. Have you ever wondered about creating additional cash flow...

Send us Fan Mail In today's episode, we have a candid conversation about infinite banking through the use of a participating whole life insurance policy. What is infinite banking? Do some people take infinite banking too far? Is infinite banking a scam? Why is there so much controversy surrounding this topic? Chris and Danny have a lengthy conversation about this topic. Whether you love infin...

Send us Fan Mail In today's episode, Chris and Danny discuss using a Roth IRA as a supplement to one's emergency fund. This is an often under appreciated and overlooked strategy, as a Roth IRA offers more flexibility than meets the eye. Be sure to check this episode out!  Support the show Support the Show: patreon.com/TheFinancialPhilosophers If you would prefer the video version of this...

Send us Fan Mail Join us in today's episode, as we conduct our first interview on the show. Our guest, Eamonn, is a successful entrepreneur who runs a business as a 3rd party Amazon seller. Eamonn has many insights to share about the journey of becoming an entrepreneur, as well as some of the risks and rewards. There is a lot of good wisdom in this episode, and we hope you enjoy!  Support the...

Send us Fan Mail A health savings account (HSA) is a very unique and powerful vehicle to contribute to. However, the case for using an HSA depends on the individual, their situation, and their personal preferences. In today's episode we cover what an HSA is, the contribution limits, the tax savings features, interesting planning strategies, and who an HSA might be good for. Tune in to learn m...

Send us Fan Mail There are a lot of financial coaches and finance gurus on YouTube who promote the concept of Velocity Banking. Many of them claim that it is the ultimate strategy for aggressively paying off debt and decreasing interest. Others claim it is nothing more than mental gymnastics, or worse, an outright scam. Like most controversial topics, the truth is often found somewhere in-between....

Send us Fan Mail To Roth, or not to Roth, that is the question! Most people are aware that they may be able to make Roth IRA and Roth 401(k) contributions , but what about Roth conversions? Do you know the fundamental differences between Roth contributions and conversions? How does one do a Roth conversion, and what might that entail? What are the pros and cons? Who might be a good fit for Roth co...

Send us Fan Mail You may have heard stories online of people selling Lego sets for huge returns, but is it really all roses and sunshine? Is it all hype? Can you actually make money selling Lego sets? In today's episode, Chris shares some of his insights and experience with selling Lego sets. What is Lego reselling, and how do you do it?  What are some of the pros, cons, and risks involved? W...

Send us Fan Mail In today's episode, Chris and Danny discuss the specifics about tax-loss harvesting. Specifically, you will learn more about the rules, pros, cons, and pitfalls related to tax-loss harvesting. Is tax-loss harvesting the right strategy for you, or would tax-gain harvesting be better? What are some things you need to be aware of when harvesting capital losses? How does tax-loss...

Send us Fan Mail Do you have a bunch of old belongings you want to sell and declutter? Perhaps you are interested in learning how to sell on eBay (or other platforms) for some extra cash? In this episode, Chris and Danny walk through some best practices for selling your old things. Learn how to get to most out of your sales, how to properly value your items, how to manage sales and buyer inquiries...

Send us Fan Mail Chris, the nerdy financial planner, is going to be a father soon! In today's episode, Danny asks Chris some questions about how his financial views or goals might change in light of having a child. Whether you're thinking of starting a family, already have kids, or simply want to hear what Chris and Danny have to say, then today's episode is for you! Support the sho...

Send us Fan Mail Are you aware of how your financial advisor is getting paid? What about your insurance agent? This episode is meant to provide full transparency into how financial professionals are compensated, and what kinds of conflicts of interest may arise. This is a great episode to listen to, especially if you are currently working with (or thinking of working with) a financial professional...

Send us Fan Mail Support the show Support the Show: patreon.com/TheFinancialPhilosophers If you would prefer the video version of this podcast, join us on our YouTube channel over at https://www.youtube.com/@financialphilosophers To contact us for Interviews or Business Inquiries, please refer to the About page of our Youtube channel.  --------------------------------------------------------------...

Send us Fan Mail Have you ever been laid off? Do you think you might lose a job? Are you thinking of quitting your job? Whether you are actively losing a job, or simply want to prepare for that potential scenario, today's episode will give you the tools to handle that situation. Losing your source of income can be tough, but there are things you can do to greatly improve your situation and ou...

Send us Fan Mail Support the show Support the Show: patreon.com/TheFinancialPhilosophers If you would prefer the video version of this podcast, join us on our YouTube channel over at https://www.youtube.com/@financialphilosophers To contact us for Interviews or Business Inquiries, please refer to the About page of our Youtube channel.  --------------------------------------------------------------...

Send us Fan Mail Join us as we discuss the nuances of hiring a financial advisor. There is a lot more to financial planning beyond how much in assets you have to invest. When is the right time to hire an advisor? What should one be thinking about when they hire an advisor. What are some ways financial advisors can add value to a client's financial outcomes? Tune in to find out more! Support t...

Send us Fan Mail In today's episode, Chris and Danny answer a listener question about precious metals (e.g., gold, silver, etc.). Is this a legitimate asset class? How might precious metals fit in as part of one's overall allocation? What are some of the pitfalls to be aware of? Come join us and find out! Support the show Support the Show: patreon.com/TheFinancialPhilosophers If you woul...

Send us Fan Mail In today's episode, we discuss three more high-yield options for parking your cash. Whether you're trying to decide where to stash your emergency fund or save for a short-term goal, there are more options here for you to consider. This is Part 2 of this conversation, where we discuss Treasuries (T-Bills), Series I Savings Bonds (I Bonds), and Multi-Year Guaranteed Annuit...