Boba Fett from Kentucky has a multi-part question on long term financial planning.
Scott breaks it down into the thought process and strategies every Financial Rock Star must consider to earn/make/grow/keep more of your hard-earned money.
- Planning for the future
- Tax considerations
- What should an 80-year-old be invested in
- Health care considerations
- High school band uniforms
TOPICS:
When are you moving to Texas?
What does the future hold when the tax code changes?
Scott explains tax brackets in a way a 1st grader can understand. Finally! This will put you in the top 1% of smart people.
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Teach pre-school kids good money habits - Money A to Z is here:
https://tinyurl.com/MoneyAtoZ
What does Election 2020 mean to your money next year? It turns out Scott was in for a rude awakening this morning.
LISTENER QUESTIONS:
What is a good investment option inside my HSA (General Kenobi)
IN THE BAND: Thanks for your help. Our home has gone up in value by $100,000 and we got rid of PMI (Kristin)
TOPICS:
Which generation has the most student loan debt and how did it happen?
Realtors share disasters at the closing table for home purchases. Scott explains how to avoid these situations.
Travel Tip: The deals for Christmas vacation are amazing this year.
Stores in California are giving away free stuff and it's yours just for the taking!
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Teach pre-school kids good money habits - Money A to Z is here:
https://tinyurl.com/MoneyAtoZ
Some companies are going to start allowing employees to save for emergencies within their 401(k) plans. Scott dives into the pros/cons and what to think about when it comes to needing quick money.
LISTENER QUESTIONS:
Is a 457 better than a 403(b) (Jess, California)
What was that money saving tip for watering your lawn in the summer (Thomas, Roswell, Georgia)
I have an offer to buy back an investment I own. Should I take it? (Wil, Florida)
Can you explain the difference between a 3-fund portfolio and the 4 fund portfolio (D’Mani)
TOPICS:
Nest thermostats aren't all they are cracked up to be.
Prepare for doomsday by loading up on toilet paper again.
You're feedback wanted - let us know what you think!
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Teach pre-school kids good money habits - Money A to Z is here:
https://tinyurl.com/MoneyAtoZ
Another credit myth destroyed by evidence - some big wig that actually works for a credit reporting agency! More unbiased advice supporting what Scott has been saying all along, and how it will help you get the best rates for loans.
LISTENER QUESTIONS:
IN THE BAND: I followed your advice and got a reimbursement check for an accident (Jason)
Is pet insurance something we should consider (Roberta)
Please warn others about saving for the future (Ann, United Kingdom)
What do you think about life insurance for children (Rachel, Tempe, AZ)
I used your find missing money trick and got $139 from an old insurance reimbursement (Erin, Memphis, Tennessee)
TOPICS:
AS-IS: Anyone moving in/out of a place needs to hear this warning about what is expected, allowed, and can be challenged so you can save yourself from hassle.
What can you learn from another $10 BILLION money manager calling it quits after failing to provide consistent returns for investors.
Where to find missing money: MissingMoney.com
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Teach pre-school kids good money habits - Money A to Z is here:
https://tinyurl.com/MoneyAtoZ
Happy Ripoff Day Mr Ponzi! Today we celebrate 100 years of Ponzi schemes. From the first one in 1920, to the one Scott fell for when he was 16, to the one a couple got busted last month for $100M.
LISTENER QUESTIONS:
What considerations should I make to decide if I should rollover my old 401(k) (Jason in Nashville)
Should I rent/lease/buy an RV since we'll be hitting the road to work from 'home' (Victor)
I'm in a low-tax year because of Covid, should I pay taxes now to convert some of my retirement funds (Hayley, Seattle)
After doing some math and thinking I'm moving from a 403(b) to a 457 (Jess, California)
TOPICS:
What corporations are following the same proven, unbiased investing advice Financial Rockstars do? The answer may surprise you.
What's that K-POP investment worth from last week? (NOT GOOD)
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Teach pre-school kids good money habits - Money A to Z is here:
https://tinyurl.com/MoneyAtoZ
Music fans often cry and scream with delight at their favorite performers. But this week many fans of one K-POP sensation will by crying over the financial devastation of their money moron decisions.
Will the children (and adults) ever learn? This would never happen to Metallica fans. Or would it?
LISTENER QUESTIONS:
You often refer to losing $40,000 in the market. I’ve read your book, but I don’t recall the story (Dan, Cincinnati, Ohio)
My friend just got a Tesla Model 3, it seems like a pretty cool car. But for $40,000, is it worth it over a brand new $25,000 gas powered car (Joshua, Tennessee)
Any options on what to do with this student loan debt of $5,000 (Lily, Atlanta, Georgia)
We’ve never been landlords, what are some tips to make this painless (Charles, Compton California)
TOPICS:
TRAVEL TIP: Now is the time to get Christmas plane tickets.
TRAVEL TIP: Get your ski lift tickets in advance, they may run out this year.
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Teach pre-school kids good money habits - Money A to Z is here:
https://tinyurl.com/MoneyAtoZ
Discover the truth about leaving a 401(k) behind at an old company or if you should do something else with it. The financial adLIEsers want to put profit before people, and Scott calls them out.
How can I find missing money my dad might have had (Marianna, Indianapolis, IN)
What are some credit card travel hacks now that the airline industry is slow (Zahrah)
Should I rollover my 401(k) to a Roth IRA if I'm switching jobs (Bart)
TOPICS:
RED ALERT WARNING: Check your AT&T bill for junk charges and hidden fees
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Find Missing Money: https://missingmoney.com/en/
Teach pre-school kids good money habits - Money A to Z is here:
https://tinyurl.com/MoneyAtoZ
Use the Fork Test to know what advice is good or bad for you.
My son is a 19 year old college student who is interested in day trading. He has done some research but is confused about what might be the best account or way to start (Eric)
What are the quickest ways to start a budget and get spending under control (Dallin)
How can I get my dad to delay social security so he can get more money (Luke, Georgia)
How should we decide if a kitchen remodel is worth it (Christen)
Can you really get a good deal on engagement rings at Costco (Christopher, Birmingham, AL)
TOPICS:
Why you can't please everyone (and shouldn't try).
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Teach pre-school kids good money habits - Money A to Z is here:
https://tinyurl.com/MoneyAtoZ
How to know if you're on the right road to financial freedom, or if you could end up in a ditch by following bad money advice.
LISTENER QUESTIONS:
Is there a quick way to boost a score (Meagan, Michigan)
My husband is 32 years old and was recently denied coverage for a life insurance policy (Fermin)
Have you heard of anyone using Zillow Offers to sell their home (Angela, Germantown, Maryland)
In the band: Christopher finds a new career after being let go.
TOPICS:
Covid stock-up warning
RED ALERT WARNING: Chime banking contest scam
Where to find a lost 401(k):
https://twocents.lifehacker.com/how-to-find-your-lost-401-k-1845243448
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Teach pre-school kids good money habits - Money A to Z is here:
https://tinyurl.com/MoneyAtoZ
What if you were starting over from scratch, or with nothing. What are some things you could do to get ahead. And what are some things everyone could do right now to get ahead?
LISTENER QUESTIONS:
What can a now single girl in her 50’s do to become financially fit (Jacqueline)
How to explain tax to kids (Vincent, Parts-Unknown)
How do I get my brother to shut up about his investing schemes (Hali, Tennessee )
My wife would rather not invest and live life now. How can we get on the same page (Michael)
What should our top priorities be when getting our first home (Kailani, Baton Rouge, LA)
TOPICS:
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Teach pre-school kids good money habits - Money A to Z is here:
https://tinyurl.com/MoneyAtoZ
Scott goes on a rant about Home Owner Assassins (HOAs) trying to squeeze more money out of his house sale. What you need to watch out for when picking where to live so you can avoid getting shot with random bills.
LISTENER QUESTIONS:
How can I invest when I'm on a work visa (Chef)
My kids are rolling quarters what should we do with the change (Cheyenne, Kansas)
How do turnover ratios impact retirement plans (Tobias, Vermont)
TOPICS:
The guy who called the 2008 crash get its right (WRONG) again!
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Teach pre-school kids good money habits - Money A to Z is here:
https://tinyurl.com/MoneyAtoZ
Putting eggs in different baskets doesn't diversify if it's the wrong kind of eggs and the wrong baskets. Scott exposes this myth that can leave people in a world of financial hurt.
LISTENER QUESTIONS:
What's your review of Walmart+ (Bailey, Kentucky)
I'm 57 and behind on retirement should I do a Roth IRA or 401(k) (John, Hollywood Florida)
What was the name of that service you mentioned a long time ago where you can verify lawyers (Jamie, Idaho)
TOPICS:
Cool Christmas gift idea you need to order NOW.
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Hand painted portraits of yourself as nobility: https://nobilified.com/
Legal weasel reviews: https://www.martindale.com/
Teach pre-school kids good money habits - Money A to Z is here:
https://tinyurl.com/MoneyAtoZ
How to avoid the mistakes people are making these days because of the economy so you can stay on track with your money (and avoid big setbacks).
LISTENER QUESTIONS:
Can you, or how can you, start a business for 12-year old (Greg)
We saved money on our insurance by doing this (Q)
We free up $500/month by getting rid of our self-storage unit (Amy, Kentucky)
What can my freshman in college due to get ahead faster while he's at home studying (Annalee, Philadelphia, Pennsylvania)
Do investment newsletters have good information (Karen)
TOPICS:
What is MUTE MATH and how do the pied pipers of personal finance use it to take your hard-earned money?
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Teach pre-school kids good money habits - Money A to Z is here:
https://tinyurl.com/MoneyAtoZ
Why do some people never achieve their financial goals? Scott share's one reason that sets people back by years and costs them a lot of money.
LISTENER QUESTIONS:
Would it make sense to sell the shares every time some become available in a stock purchase plan (Dan)
What are your thoughts on Equal Weight Investing (Jeff)
TOPICS:
Red Alert Warning: Covid surcharges are coming to bills near you.
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FREE Digital Download of Scott's Children's Book: Money A to Z
https://tinyurl.com/MoneyAtoZ
Most people still don't realize they can build wealth over time. But there are some gotchas that keep people from having all the money they worked hard for.
LISTENER QUESTIONS:
Will putting money in my 401(k) at age 55 work for me (Wendy)
What are the pros and cons of using a self directed brokerage account in a 401(k) (Henry, Virginia)
Should I get a refi on my mortgage (Bob)
TOPICS:
The billionaire who gave away all his money
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Save Thousands On Your Next Car HERE: https://tinyurl.com/CarBuyingSecretsCourse
How to research a new place (apartment, condo, home) so you can avoid some hidden gotchas which can cost you dearly.
LISTENER QUESTIONS:
My stepdad asked if there is a way or insurance that he could join or open up for any funeral expenses (Steve)
Can I make money quickly to help my two friends (Kermit)
What's the purpose and value of a credit score (Wil, Florida)
Should I get a financial check-up (Renee, SouthWest Ohio)
Do I need a financial planner (No Name Paradise, Honolulu)
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Save Thousands On Your Next Car HERE: https://tinyurl.com/CarBuyingSecretsCourse
Do you own or have you thought about purchasing collectables, jewelry, or gold as an investment? Scott shares another money moron moment and the lessons he learned so you can avoid the same fate.
LISTENER QUESTIONS:
What’s your take on what will happen with the government debt and is there anything we should be doing (Alan, Knoxville, TN)
How do I get the best deal on a car (Levi, New Jersey)
What should I do with my gap year since I'm not going to college this fall (Vicki, Tionesta, Pennsylvania)
TOPICS:
Can you use the CARES Act to do a penalty free IRA rollover from a 401(k) or other retirement account?
Should you switch cell phone carriers to save money?
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Save Thousands On Your Next Car HERE: https://tinyurl.com/CarBuyingSecretsCourse
Scott explores the impact taxes have on your wealth. What to think about, how to minimize them, and what to do today so you can have more money tomorrow (to spend how you want!)
LISTENER QUESTIONS:
Best place to put short term money now (Deanna)
Are there really investments that beat the market (Miranda, Layton, Utah)
Where to shop for the best mortgage rates for a first time home (Joshua, Florida)
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Get The Millionaire Roadmap online course HERE: http://bit.ly/best789
Scott broadcasts from a basement while on vacation, sharing his observations on life events and how they impact your financial freedom.
Your questions answered:
- What type of bonds are good for income (Andrew)
- My CFP I used 3 years ago has retired. What are my options (Renee)
- Thoughts on a construction loan (Dany)
- Our dream house is to build a cabin (Marissa)
WINNER WINNER CHICKEN DINNER - Ashley is our 2nd recipient of $1,000
Scott is traveling this week. The microphone stinks but the knowledge and stories are just ok!
We are leaving Dallas! Also, a major Seattle company decides to sell it's BRAND NEW headquarters and is letting it's 1,200 employees work remotely. What are the takeaways you need to know as it applies to your life and financial freedom?
CHART TOPPER: I have a fully funded emergency fund and it's helped me during the pandemic! (Catwoman)
Should I help my parents change their investment options (Miguel, California)
This is what to watch out for in your 403(b)(Connor)
TOPICS:
How to find out if a college degree is worth the tuition.
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Get The Millionaire Roadmap online course HERE: http://bit.ly/best789
What should you be thinking about and planning for if another pandemic hits?
Should we set aside money in case we need to payback the pause on payroll taxes (Kemerling, Waltham, MA)
My insurance company didn't give me the refund I was expecting, how can I get this fixed (Jason, Nashville, TN)
How would you shop for a new washing machine (Hailey, Marietta, GA)
How do individual companies impact index and mutual funds (Rodion)
TOPICS:
How to find out if a college degree is worth the tuition.
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Get The Millionaire Roadmap online course HERE: http://bit.ly/best789
What should I do with any extra side money I earn? Should that go straight to the emergency fund or credit card or get split between both? (Megan)
YOUR QUESTIONS ANSWERED:
I was wondering if you have looked into Acorns Early at all and if so what your thoughts are (Kelly, New Jersey)
Am I looking at getting a trust, 529 plans, or some investing accounts to keep my irresponsible sister's fat fingers out of the cookie jar for her kids's inheritance (Tara, Folsom, CA)
TOPICS:
Another investing lesson from this week on why the KISS investing principle can make you rich, while the Robinhood App will Rob you of your future.
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Get The Millionaire Roadmap online course HERE: http://bit.ly/best789
Do you know the two dollar amounts needed to escape the rat race, have financial security, and have peace of mind? Scott tells you how to figure them out so you can set a goal to get there.
YOUR QUESTIONS ANSWERED:
I've went on soooo many interviews trying to get a job and can't get a call back (Shania)
I can't go home to Croatia because I don't have enough money (Andreja, Ireland)
Invest in free heat to be better off in the long run giving more opportunity to pay off debt (Dan, England)
I’m am 35 and I’m looking for something more aggressive and risky to invest in at Vanguard (Tyson, Afghanistan)
Is it easier to have a separate savings account for each savings fund? (Skylyn, Canada)
TOPICS:
Ferengi Rules of Acquisition and how they apply to your money.
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Get The Millionaire Roadmap online course HERE: http://bit.ly/best789
What's reasonable to sacrifice along the journey to financial freedom? Time? Lifestyle? Relationships?
IN THE BAND:
Barbara just paid off her car.
YOUR QUESTIONS ANSWERED:
When I dispute and resolve a collections claim, will my credit score go up (Bethany, Akron, OH)
Should $32,000 from a rental house sale be applied towards car payoffs or credit card debt (Michael, Charlotte, NC)
We are short on retirement at age 50. With a super low mortgage rate should we pay down the house faster or invest (Isaiah, Salem MA)
TOPICS:
Do you know what it takes to be 'financially comfortable'?
Another win for teachers as a big 403(b) plan administrator is set straight for ripping them off.
Is FoodServiceDirect.com worth your money?
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Get The Millionaire Roadmap online course HERE: http://bit.ly/best789