We look back on 2021 and revisit some of the highs and lows.
================
LISTENER QUESTION/COMMENTS
================
Can you elaborate more on the pros/cons of I Bonds (Loren)
I’ve heard that you can pull money out of 457 plans before retirement age (Jacob, MA)
================
TOPICS
===============
BOO! - Vanguard is no longer sticking to its founding values.
What are alternative investments and how can they fit into your Rock Star financial independence roadmap?
================
ENCORE
================
Get your questions answered on the show: https://GoAskScott.com
Get your accounts in order with Optimize 401k: https://bit.ly/Optimize401k
How does inflation impact everyone’s finances? What do you need to know to protect your family from these termites that can destroy your future?
================
LISTENER QUESTION/COMMENTS
================
Any follow up on getting the Venture X card (General Kinobi)
Should I Bonds be part of an emergency fund strategy (Eddie)
I recently inherited a bunch of money. Is investing in a lump sum or over time better(Stone, Colorado)
I’m 35 and all of my 401k is invested in stocks. Is there a better recommendation for the allocation (Stephanie, Tampa, Florida)
================
TOPICS
===============
RED ALERT WARNING - Paying cash to contractors can backfire. Here's how to be cautious.
TRAVEL TIP - Use flights.google.com to find the cheapest fares to random destinations.
Nike is going to start selling virtual sneakers. My daughter is going to start selling virtual unicorn horns and get rich too.
================
ENCORE
================
Get your questions answered on the show: https://GoAskScott.com
Get your accounts in order with Optimize 401k: https://bit.ly/Optimize401k
You did something. You busted your but. You saved. You had discipline. You built good habits. And you should be proud of what you're doing. Not ashamed. And certainly not fall for the false belief that you were lucky.
================
LISTENER QUESTION/COMMENTS
================
I’m maxing out my 401k plan as well as max out a Roth IRA. I’m fortunate and looking to invest more money. Is the next place to look at investing in a brokerage account (Keani, Benton, AR)
Can/should I create an investment account for my children (Bruno Mars, Nevada)
What do you do when you want a nice vehicle, say a Porsche Carrera, Mercedes, or Land Rover, but don't want to hurt your future (savings) (Alan)
What are the best robo advisors in Canada (Alyssa, Canada)
================
TOPICS
===============
MONEY SAVING - Why now is a terrible time to buy a car but a great time to sell one.
INVESTING - Should you be buying Ibonds?
TAXES - Gordon Ramsey is moving his headquarters to a low-tax country.
================
ENCORE
================
Get your questions answered on the show: https://GoAskScott.com
Get your accounts in order with Optimize 401k: https://bit.ly/Optimize401k
The Millionaire Next Door pulled back the curtain on people who have built wealth. But they aren’t wearing jeans with holes in them and only eating out at McDonald's. For crying out loud - live like the rock star you are!
================
LISTENER QUESTION/COMMENTS
================
Are there better alternatives for an emergency fund than my bank (Matthew, California)
The retirement plan at my new company has a Roth 403b option. Is that better than a Roth IRA or can I do both (Vienna, Kansas)
Should I combine two 401ks at Fidelity into one (Brendan, Derry, NH)
Is it ok to skip the bonds for now (Andrew, Virginia)
================
TOPICS
===============
TRAVEL - the Goldilocks Windows for traveling hacking.
MONEY SAVING - How to save on high heating bills this winter.
https://scottalanturner.com/11-unique-things-homeowners-can-do-today-to-save-money-infographic/
RED ALERT MOMENT - Should you invest in art?
NEWS OF THE WEIRD - $600,000 found behind a toilet in a church.
================
ENCORE
================
Get your questions answered on the show: https://GoAskScott.com
Get your accounts in order with Optimize 401k: https://bit.ly/Optimize401k
I think we all have someone we're picturing in mind right now....(and if this person is you, you can just buy these for yourself).
================
LISTENER QUESTION/COMMENTS
================
Where on earth is all the money in the various stimulus packages coming from (Kayla, Cheyenne, Wyoming)
I can save about $15,000 per year. Should I be looking at a Roth IRA or use a 401k at work (Tyler, Arkansas)
Is an online kit available for about $100 to setup a trust ok to use (Gabrielle, WA)
What is the best account to hold a high yield dividend ETF (Amanda)
================
TOPICS
===============
MONEY MORON MOMENT - How not to buy life insurance.
Has Cathie Wood lost her touch?
Zoom Class action lawsuit - get $15!
https://www.ZoomMeetingsClassAction.com
================
ENCORE
================
Gifts for impatient people: https://www.buzzfeed.com/maitlandquitmeyer/gifts-for-impatient-people-2021
Get your questions answered on the show: https://GoAskScott.com
Get your accounts in order with Optimize 401k: https://bit.ly/Optimize401k
You are the best person to manage your finances. People are also our own worst enemy. A personal note on how complacency can be a wealth killer (or health killer) without anyone knowing it.
We also revisit the upcoming book First To A Million by Dan Sheeks.
================
LISTENER QUESTION/COMMENTS
================
Can I withdraw money from my IRA to pay off the debt (Jasmyn, Ft Lauderdale FL)
What allocation of stocks/bonds should I put my house savings for a downpayment (Conor, Indy)
If I pay off my kid's student loans will either of us have to pay taxes (Peter, Petoria)
================
TOPICS
===============
MONEY-SAVING TIP: Save your Subway receipts
MONEY-SAVING TIP: Asking service companies for discounts
RED ALERT WARNING: Another 'expert' gets it wrong
================
ENCORE
================
Get your questions answered on the show: https://GoAskScott.com
Get your accounts in order with Optimize 401k: https://bit.ly/Optimize401k
You don't need a budget. You just need something that works for you and you'll follow consistently. Tips that should make you feel better (less guilty!) about the perfect plan for you.
================
LISTENER QUESTION/COMMENTS
================
Is there a company for a Roth IRA that is safe, reliable, easy, and good (Sandy)
Should I leave my money in a 401k or roll it into an IRA? Would a self-directed IRA be best for home flipping? (Wayne)
My ex-son-in-law is going to set me up with a Robinhood account (Anita)
================
TOPICS
===============
MONEY-SAVING TIP: Amazon vs. Walmart
TRAVEL HACK: The new Capital One Venture X card is here
Scott's daughter joins the show without her knowing it.
================
ENCORE
================
Get your questions answered on the show: https://GoAskScott.com
Get your accounts in order with Optimize 401k: https://bit.ly/Optimize401k
Consider this your regular reminder that most personal finance gurus get rich not from their investment smarts, but from their ability to sell you on their investing smarts.
Support our latest sponsor - Chubby Bunny!
================
LISTENER QUESTION/COMMENTS
================
Should I finance a car and move the money to a higher-yielding account or pay cash for it (Bobbi, Houston)
Are I-bonds are a better vehicle for savings as opposed to other savings accounts (David)
I'm 21 and just started investing in a 401k managed by my bank but I'm scared that we'll go into a pandemic-induced recession at any moment and I'll lose everything. Don't know if this was really the best time to start investing (Abi)
================
TOPICS
===============
MONEY-SAVING TIP? Iron-stomached man discovers savings benefits of eating meals at a Six Flags park
Scott shares his favorite credit card and why he likes it.
It's time for taxes if you want to save money - https://turbotax.intuit.com/tax-tools/calculators/taxcaster/
================
ENCORE
================
Get your questions answered on the show: https://GoAskScott.com
Get your accounts in order with Optimize 401k: https://bit.ly/Optimize401k
If you have a pulse, you could be making more money at your current job if you follow this strategy. Today's job market is on fire, and people in the know are getting what they deserve.
================
LISTENER QUESTION/COMMENTS
================
ROCK STAR MILLIONAIRE - Listen to the story of how this person is crushing it.
My friend asks why I'm paying down our house so soon (Millionaire Nurse)
How do we move beyond the target date fund (Rodney)
================
TOPICS
================
MONEY MORON MOMENT: Watch out what you borrow money for.
MONEY SAVING TIP: Flying for Thanksgiving? Parking deals are here.
Why you should ignore the people you've passed.
================
ENCORE
================
Get your questions answered on the show: https://GoAskScott.com
Get your accounts in order with Optimize 401k: https://bit.ly/Optimize401k
First To A Million is a new book about financial independence (FI) aimed at teenagers. But it's so much more and the lessons and tips will apply no matter your age, stage, or wage. Scott reviews this book before you can get it - and you should plan to get it!
Pre-order the book on Amazon now:
https://www.amazon.com/First-Million-Teenagers-Achieving-Independence/dp/1947200461
================
LISTENER QUESTION/COMMENTS
================
How do I know if I'm getting the best rate on a mortgage quote (Deanna the Dog Walker)
I'm getting an increase in pay and jumping up in tax brackets. Where should I put my money if I'm maxing out my retirement accounts (OMG)
How should I treat my HSA - as part of my emergency fund (Chad, Illinois)
Can you do a custodial Roth for a minor that isn't a minor you own (Daren)
================
TOPICS
===============
RED ALERT WARNING: Why you don't need an Apple cloth.
Cocatalyst - How to donate appreciated stocks to charity:
https://www.cocatalyst.org/articles/how-to-donate-stock-to-a-charity
================
ENCORE
================
Get your questions answered on the show: https://GoAskScott.com
Get your accounts in order with Optimize 401k: https://bit.ly/Optimize401k
Whether you want a new car. A new house. A closet full of shoes. A better education for kids. Traveling in style. Even your own plane, this is how you get it.
================
LISTENER QUESTION/COMMENTS
================
I'm considering Legal Zoom for estate planning, what are your thoughts (Cardi, Michigan)
Is it best to have an emergency fund in cash (Joanie, Tampa Bay)
How can I be confident when it comes to investing (Heather)
What do you think of debt consolidation services (Mrs. Picard)
================
TOPICS
===============
RED ALERT WARNING: What does one big CEO say about Bitcoin?
Good news for teachers and non-profit workers when it comes to student loan forgiveness.
================
ENCORE
================
Get your questions answered on the show: https://GoAskScott.com
Get your accounts in order with Optimize 401k: https://bit.ly/Optimize401k
The math on compound interest is staggering. Even if you know this stuff already, seeing it in a different light will put a smile on your face and increase your confidence in your plan.
================
LISTENER QUESTION/COMMENTS
================
Is there any consistency to the market now (Rocio)
What can I do about a contractor that didn't complete some work (Mark)
How much money is required to get started investing (Marteen, Cape Town)
================
TOPICS
===============
When can putting your finances on auto pilot destroy your plan?
RED ALERT WARNING: Come on! Why is this company still around?
MONEY HACK: The worst myth about cars that keeps costing people money
I TOLD YOU SO: A museum says they gave an artist $84,000 in cash to use in artwork. Guess what happened?
================
ENCORE
================
Get your questions answered on the show: https://GoAskScott.com
Get your accounts in order with Optimize 401k: https://bit.ly/Optimize401k
Building wealth is so much more than spending less than you earn and investing the difference. Indecision is a decision. So what could you be doing today that will build wealth for your tomorrows?
================
LISTENER QUESTION/COMMENTS
================
Is a tax free retirement account (TRFA) like a Roth IRA (Jodie)
What can I do with the money in a 529 plan if my son doesn't use it for school (La Forge)
================
TOPICS
===============
What should you be doing about inflation right now?
RED ALERT WARNING: Another sad tale of social insecurity.
MONEY HACK: Get your credit score and credit monitoring for free from Discover without any strings attached.
I TOLD YOU SO: A museum says they gave an artist $84,000 in cash to use in artwork. Guess what happened?
================
ENCORE
================
Get your questions answered on the show: https://GoAskScott.com
Get your accounts in order with Optimize 401k: https://bit.ly/Optimize401k
Building your nest egg is just as important as making sure it doesn’t end up a scrambled mess. What's beyond the simplified advice of 'spend less than you earn'?
================
LISTENER QUESTION/COMMENTS
================
Can I contribute money to a Roth IRA for a child (Audrey, Chicago)
Where can I learn about stocks and bonds to get started investing (Marissa, Mass)
================
TOPICS
===============
SUCCESS TIP: What can you do to get ahead in any area of your life quickly?
================
ENCORE
================
Get your questions answered on the show: https://GoAskScott.com
Get your accounts in order with Optimize 401k: https://bit.ly/Optimize401k
Another entertaining review of MLMs. "LuLaRich" largely focuses on how LuLaRoe’s multi-level marketing structure ruined lives.
================
LISTENER QUESTION/COMMENTS
================
My financial advisor took out loans in my name and ruined me (Cheryl)
When is a good time to get umbrella insurance (Alex, Phoenix, AZ)
Will I get hit with capital gains on my home purchase if I rented it out (Fred, Idaho)
================
TOPICS
===============
RED ALERT WARNING: Back to school book fair that's unfair.
MONEY TIP: Hospitals are getting ready to publish what things cost, which is good for consumers.
Do you have this advice in your home to save on insurance?
================
ENCORE
================
Get your questions answered on the show: https://GoAskScott.com
Get your accounts in order with Optimize 401k: https://bit.ly/Optimize401k
Imagine the joy you would feel by being able to spring for a meal at a Michelin Star restaurant for an anniversary with your significant other? It's possible, if you know how.
================
LISTENER QUESTION/COMMENTS
================
Will 2022 be a better year to wait and buy a car (Addison, Maryland)
I have a travel tip for people if they can't go far (Keith, Honolulu, Hawaii)
I found $300 in savings over the past year just by paying attention to my bank statements (Trey, Worcester, MA)
================
TOPICS
================
Vermont is hiring!
RED ALERT WARNING: Are your last wishes in place so you don't get hosed when exiting the earth?
Would you opt out of social insecurity if you could?
================
ENCORE
================
Get your questions answered on the show: https://GoAskScott.com
NOLO Willmaker: https://store.nolo.com/products/quicken-willmaker-plus-wqp.html
INTRODUCING Optimize 401k: https://bit.ly/Optimize401k
INTRODUCING Optimize 401k: https://bit.ly/Optimize401k
Imaging your perfect place to live. What does it look like? People are moving now more than ever because of Covid. Are you dreaming and making some plans to get to your next place?
================
LISTENER QUESTION/COMMENTS
================
Is there a way to do a backdoor Roth and avoid the pro rata rule (Joel)
What's the right amount of money to have set aside if we buy an AirBnb vacation home so we don't get stuck if it doesn't rent (Jackson, Miami, FL)
How can I nudge my partner to get on this path to financial freedom (Sydney from Canada)
================
TOPICS
================
Here’s what happens to Social Security payments when you die.
RED ALERT WARNING: Another handsome man has the secret to building wealth. It's only $49!
SHOPPING TIP: Get your Christmas shopping down now while there is still junk to buy and the shelves are empty.
================
ENCORE
================
Get your questions answered on the show: https://GoAskScott.com
The total number of retirement millionaires has nearly doubled from one year ago. The outlook for retirement savers is only improving! No matter your age, stage, or wage, it's time to get inspired. Plus, tips to save.
================
LISTENER QUESTION/COMMENTS
================
Can I take the gains from the sale of a rental property to pay down my primary residence and avoid capital gain taxes (Andrew)
================
TOPICS
================
Here’s what happens to Social Security payments when you die.
RED ALERT WARNING: T-Mobile data breach and what you need to do and expect.
MONEY MAKING TIP: When all else fails, sue to get money.
James Bond’ actor Daniel Craig says his children won’t be receiving his multimillion-dollar fortune
================
ENCORE
================
Get your questions answered on the show: https://GoAskScott.com
Investing/saving/buying should be about seeing the future. Which is hard to do when people can't even admit they could be making a mistake.
================
LISTENER QUESTION/COMMENTS
================
Can I take the gains from the sale of a rental property to pay down my primary residence and avoid capital gain taxes (Andrew)
================
TOPICS
================
MONEY HACKS: Should you decline rental car liability coverage?
TRAVEL TIP: How to save on Covid tests
================
ENCORE
================
Get your questions answered on the show: https://GoAskScott.com
The best place for your retirement money could be a Roth. How can you stack it?
================
LISTENER QUESTION/COMMENTS
================
Jennifer from SoCal spots The High Priest in a West Texas Walmart.
Go big, then stop in order to build wealth with little effort.
Announcing the 2021 Personal Finance Scholarship $1,000 winners: Libby + Samantha.
================
TOPICS
================
TRAVEL TIP: Saving money on long term parking at the airport.
MONEY HACK: Keto for Kats?
At 46, African skateboarder finally wows mom at Tokyo Games.
================
ENCORE
================
Get your questions answered on the show: https://GoAskScott.com
Target date funds are the "easy button" for retirement investing. They can take the confusion and research out of investing and let you get back to your life. They can also cost investors a lot of money...in ways most people don't think about (no, not just fees).
================
LISTENER QUESTION/COMMENTS
================
Should I treat my Target Date Fund as if I'm 30 years old and will be in retirement for decades (Dan)
When tracking expenses how do I avoid double entries (Ray, Texas)
What are the red flags to look out for with insurance (Cathy, Boulder, CO)
================
TOPICS
================
How to max out your employer retirement plan above and beyond what you may think you can put in.
Student loan pausing is changing, here's how to get out in front of the October 1st deadline.
RED ALERT WARNING: Inflation - who should be worried?
The Olympian using Pop Tarts to go for the gold.
================
ENCORE
================
Summer Student Loan Debt Help: https://www.meetsummer.org/individuals
Long Term Disability Calculator: LTD Calculator: https://www.guardianlife.com/disability-insurance/long-term-disability-insurance-cost
Get your questions answered on the show: https://GoAskScott.com
Most people have a goal of owning investments that they’re comfortable with. Understanding the difference between risk tolerance and risk capacity will help you achieve your goals and avoid running out of money before running out of life.
================
LISTENER QUESTION/COMMENTS
================
We are building a mobile home empire. Is it better to go all in on real estate or continue to put money into my 401k/457 (Alejandra)
Is this year or next year better to convert a SEP IRA to a Roth (Andrew)
With the uncertainty of student loan forgiveness, is it better to wait and see what the administration does or just pay them off now (General Kinobi)
================
TOPICS
================
Travel Alert: What a world wide cruise could cost you.
Fun Facts: Cardiac Sweepstakes
================
ENCORE
================
Find out your Risk Number: https://rockstarfinancialplanning.com/risk-number/
Get your questions answered on the show: https://GoAskScott.com
Andrew has a product he's seen on Facebook and wonders if it's too good to be true? What are the filters you can use to determine if something is a good deal for your financial future or if it's something that's just going to be a big fat loser for your wallet.
================
LISTENER QUESTION/COMMENTS
================
Is it better to start converting some of my 401k money to Roth 401k money now (Dan, New Hampsha)
How do I get my wife and I on the same page when it comes to investing (Ned Flanders, Springfield)
I got a new higher paying job and am wondering what should I do with the extra $400-$500 a month in free cash (Barb)
================
TOPICS
================
RED ALERT WARNING: Capital One, Property Brothers, what are they pitching to unsuspecting consumers?
================
ENCORE
================
Coming soon: https://rockstarfinancialplanning.com/optimize-401k
Get your questions answered on the show: https://GoAskScott.com
Is there a difference between how much risk someone thinks they can take vs. how much risk science shows they really would be willing to take? And if so, how does that impact your strategy for financial security?
================
LISTENER QUESTION/COMMENTS
================
Do you have any retirement advice for someone who may not be able to enjoy 30 years of retirement but maybe only 10 because of health issues (Reese)
Does it ever make sense to bet the farm if there is plenty of time to recover (Tobias)
================
TOPICS
================
RED ALERT WARNING: The financial pirates are at it again with their stocking picking double talk.
Robin Hood is fined a Happy Meal for causing widespread harm to investors.
================
ENCORE
================
Coming soon: https://rockstarfinancialplanning.com/optimize-401k
Get your questions answered on the show: https://GoAskScott.com
Social insecurity should be the icing on the cake for a well planned retirement. That’s they key - well planned, and well executed. What should we be prepared for depending on our age?
================
LISTENER QUESTION/COMMENTS
================
Can you explain the 4% rule (Alexis from Texas)
Should I pay down my student loans if they government is talking about forgiving them (Jonah from Portland)
I bought $5,000 worth of Bitcoin when it was at $55,000. I sold it when it hit $30,000, and I’m out. Lesson learned. (Brett the Hitman Hart)
================
TOPICS
================
Are there some backdoor tricks to getting a house offer accepted in today's sellers market?
Why you need to have an emergency fund for your pets.
================
ENCORE
================
Coming soon: https://rockstarfinancialplanning.com/optimize-401k
Get your questions answered on the show: https://GoAskScott.com