Honest and uncensored - this is not your father’s boring finance show. This show brings much needed ACTIONABLE advice to a people who hate being lectured about personal finance from the out-of-touch one percent. Andrew and Matt are relatable, funny, and brash. Their down-to-earth discussions about money are entertaining whether you’re a financial whiz or just starting out. To be a part of the show and get your financial questions answered, send an email to firstname.lastname@example.org.
Mr Money Mustache didn't retire because he was making so much money from his blog. He had actually been retired for six years before he started writing. The blog was born when he looked around at his friends who had good jobs but were still living paycheck to paycheck.
They bought into what has long been sold as the American Dream; go to college, get a job, buy a house, fill that house with as much stuff as it can hold (and when it can't hold anymore, rent a storage unit), have some kids, and get stuck in an unfulfilling job, dreaming of freedom that will always be out of reach.
Retire, maybe at 65 if you're lucky, and live out your days, just kind of existing, hoping your money will outlast you. The best years of your life long past. But what if you could be retired by thirty?
MMM started the blog out of frustration, he wanted to show them, and now us, that they could do what he did. And an empire started.
Original Broadcast Date September 8, 2014
Full Article Here
Mr Money Mustache: Everything you need to know to retire early.
The 4 Pillars of Investing: A book that helped MMM get his start.
Betterment: Start investing your 50% today.
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The biggest expenses in life are taxes and interest. If we can minimize those two things, we will put much more money in our own pockets and add many more years to our retirements.
Our guest, the Mad Fientist delves deep into advanced IRA strategies. Find out why you should have one and which one will best fit your needs.
Original Broadcast July 22, 2014
Full Article Here
The Mad Fientist: Brandon's website and podcast.
Betterment: Our favorite investing tool. Use this link and get six months with no fees!
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Laurel Staples joins us to teach us how to forget the American dream and talk about her journey becoming an entrepreneur. Start living our own dreams on our own terms.
In 2007 Laurel quit her job as a mechanical engineer to launch her popular blog, Go Fire Yourself. In January she will publish her book about how to quit your day job and run your own business.
Original Broadcast Date August 18, 2014
Full Article Here
Smuttynose Bouncy House IPA: an all-occasion American ale.
Martini: made with Blue Coat gin and vermouth.
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What a weird concept. Loving your kids too much. But it can be true. By giving them too much, by coddling them from every possible disappointment, we turn them into ineffectual adults.
From ensuring that everyone gets a trophy to always giving them money when they ask, kids today can't handle normal disappointment and have never had to work or struggle for anything. Mom and Dad are always waiting, poised to smooth whatever path their children are on. But in the name of loving them, we're taking away character building opportunities.
This episode was originally broadcasted on October 22, 2014
Full Episode Here
Succeed Faster: Adam's site to help you build a bigger life.
Broke, Busted and Disgusted: Adam's upcoming documentary about student loan debt.
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It’s almost Halloween and nothing is more frightening than money horror stories. Close the blinds, turn off the lights, light a candle and prepare to be scared. Matt and Andrew haven’t always been smart with money, well Andrew mostly has. But even they have finance horror stories and will share them with us.
This episode was first published on October 31 2014
Hopfish IPA: An English style IPA.
The Bowery Boys Haunted Brooklyn: Here’s a special Halloween treat. One of my favorite podcasts. If you like history or just scary stories, check out the Bowery Boys annual Halloween podcast devoted to ghost stories of Brooklyn.
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We tend to talk about stocks much more often than bonds. Why? Because since LMM began, our audience has skewed young, most of our listeners are in their twenties and thirties. But the show has been around for seven years now. Those who have been with us from the beginning are seven years older.
We want to serve our audience, so we need to focus a little more on bonds. Most of you know the basics, and we've covered bond investing in the past. Today we have returning guest J. David Stein to go a little deeper into the weeds and talk about the yield curve.
Full Article Here
Flatter Flatter: An IPA from SingleCut Beersmiths
Blue Light Rain: An unfiltered German Pilsner from Knotted Root Brewing Company
Money for the Rest of Us: J. David Stein's site and podcast.
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We get dozens of emails from listeners each week asking really thoughtful financial questions. When a question needs a detailed answer or might be helpful to others, we turn it into part of a 5 questions episode.Today we have 5 questions about buying a timeshare, the Lending Club strategy, f**k you money, buying a rental property, and what to do with a million-dollar inheritance.Full Article Here Show NotesCape May City To Shore: A Double IPAThick Blueberry Goo: A smoothy style Berliner Weiss.Learn more about your ad choices. Visit megaphone.fm/adchoices
There are a lot of bad things happening around us: climate change, weekly mass shootings, rampant opioid addiction, income inequality. And our government and American corporations don’t seem interested in doing anything to address these issues. In many cases, they are profiting directly from them at the expense of the citizens. Rather than feeling helpless and frustrated, let’s take matters into our own hands. That’s where socially responsible investing comes in. You can invest in the world you want to live in.Full Article HereShow NotesHopHands: An American Pale AleWisp: A Belgian style whipLearn more about your ad choices. Visit megaphone.fm/adchoices
Agriculture is the one industry that touches every person on the planet. Agriculture produces the food we eat, the liquids we drink, the clothes we wear, and the furniture we sit on. There are nearly 7.5 billion people on earth, all of whom consume what agriculture produces. Which makes investing in agriculture seem like a no brainer.Full Article Here Show NotesFat Orange Cat: A white stout brewed with coffee and chocolateMelcher Street: A double dry-hopped IPADallas Blonde: An American blonde ale.Harvest Returns: Grow your wealth with passive investments in farming and timberlandLearn more about your ad choices. Visit megaphone.fm/adchoices
The FIRE movement has carved out a big niche in the personal finance space. FIRE stands for Financial Independence, Retire Early but if you quit traditional work in your 30s or 40s, what will the rest of your life look like?Three or more decades is a lot of time to fill and sitting on the porch in a rocking chair or playing golf aren't going to be enough to fill it. The 30s to 60s can be the prime of life. We're still filled with energy, ideas, and ambitions.Full Article HereShow NotesApricot Compote: A Sour from Evil Twin Brewing.The Frugal Engineers: Kim and her husband's site. Learn more about your ad choices. Visit megaphone.fm/adchoices
We get dozens of emails from listeners each week asking really thoughtful financial questions. When a question needs a detailed answer or is of interest to a lot of people, we turn it into part of a 5 questions episode.Today we have 5 questions about debt consolidation, saving money on a move, combining finances, living paycheck to paycheck, and capital gains.Full Article HereShow NotesLightful: A German-style wheat beer from Tired Hands Brewery.Yule Smith: A double hopped IPA. Learn more about your ad choices. Visit megaphone.fm/adchoices
We talk a lot about making sure your portfolio is diverse enough to insulate your investments from risk. But if you want to ramp up returns, consider diversifying your retirement with alternative assets. How can you do that? A Self Directed IRA is one of the most powerful tools in your retirement arsenal. Alternative investments can improve your chances of retiring with enough money.Full Article HereShow NotesApricot Compote Sour: A refreshing summer beer from Evil Twin.Alto: The Alto platform provides users with a simple interface to set up, invest with, and manage a diversified portfolio of alternative assets. Learn more about your ad choices. Visit megaphone.fm/adchoices
The United States Department of Agriculture (USDA) estimates that it costs nearly a quarter of a million dollars to raise a child from birth to age 18. That tally does not include the cost of a college education.The largest piece of that pie lies in housing and transportation at a whopping $107,000. Next, you’ll factor in childcare and education at $44,000. (See? I told you this shit is expensive).Following that is clothing/miscellaneous and healthcare at $33,000 and $20,000 respectively. Let’s get crazy and add the cost of college into that number. Now we are easily pushing over $350,000 to raise one child. Having kids is not a business decision for most people but it comes with many of the same considerations. There are no “one size fits all”. Let's look at some things to consider before embarking on what I called my new business and what you would probably call your family. Let's talk about the business of babies.Full Article Here Learn more about your ad choices. Visit megaphone.fm/adchoices
Knowing your personal net worth is one of the most important aspects of personal finance. It's one of the best indicators we have to know if we are on target to meet our goals. Whether you want to be debt-free, buy a home, pay for college for your children, or to retire you need to be on target.Your net worth is a way to see what is holding us back. It's a very strong indicator of your overall financial health.Figuring out your net worth is easy. Add up the total value of all of your assets. Add up the total value of all of your debts. Now subtract the assets from the debts. You might have a positive net worth or a negative one.Not really into math? We hear you.We know someone who will do the math for you for free. Personal Capital will give you a complete picture of your net worth, compare yourself to others average net worth in your age or income bracket and track progress towards your goals.They also do a ton of other things for free like track your spending, analyze fees, investment checkups, and help your retirement plan. You can thank us later.Full Article HereShow NotesPersonal Capital - Track Your Net WorthMint - Budget Like a BadassLearn more about your ad choices. Visit megaphone.fm/adchoices
In its ongoing quest for world domination, Facebook is set to launch a cryptocurrency called Libra. And a digital wallet to store those Libra called Calibra. Given the company's somewhat shady privacy practices, would you trust Facebook with your money?Full Article HereShow NotesPassion Pool from Mikkeller and Friends: A gose.Craft Lager from Upslope Brewing Company: An American style lager.Learn more about your ad choices. Visit megaphone.fm/adchoices
We get dozens of emails from listeners each week asking really insightful financial questions. When a question needs a detailed answer or is of interest to a lot of people, we turn it into part of a 5 questions episode. Today we have 5 questions about spending a raise wisely, investing in a bull market, what to do with an inheritance, how to pay for an engagement ring, investing in weed stocks, and a bonus question about gold.Full Article HereShow NotesBoont Barl: An amber ale.Dogfish Head SeaQuench: A sour ale.Learn more about your ad choices. Visit megaphone.fm/adchoices
Andrew and Matt share their stories and the lessons they learned creating a blog that makes passive income but more importantly, they are going to spell out the exact steps they took to achieve financial independence. They will cover:How to Start a Blog (Step-by-Step Guide) – Everything you need to get started in under 10 minutes with $160. The act of paying someone to host a blog for you is easy.How to Monetize your Blog – The only two ways that matter and the one you should avoid at all costs.Your Creation Strategy – Make what people are actually looking for. Also, 80% of SEO is bullshit. I am not special, the internet is filled with people doing exactly what I do. The difference is, I’m just going to tell you for free.A Blog’s Growth Trajectory – What you should expect in year 1, 2, 3, 4 and 5. It’s all about appropriate expectations because slow and steady wins the race. Going viral is bullshit. Winning online isn’t about being the fastest, it’s being the one left after everyone else gave up.How You Will Fail – It’s going to happen, and it’s going to happen a lot. Learn about the “Equal-Odds Rule” and how it applies to every success you’ve ever seen. For me, my failures have been far more instructive than what I’ve actually done right.Full Article HereLearn more about your ad choices. Visit megaphone.fm/adchoices
Buying a house is a long-held tenet of the American Dream, one of the milestone markers of adulthood. But there are a lot of misconceptions about homeownership.And there is a lot of misleading information about the process of how to buy a house, some of it seems deliberately misleading. An uninformed buyer is an easy mark for predatory real estate agents, home inspectors, contractors, banks, and mortgage brokers.Buying a house to live in rather than to rent out is not an investment. In reality, it’s usually a terrible investment. That’s because, at the end of the day, owning a home takes money out of your pocket: You’re paying property taxes, you’re paying maintenance, you’re paying insurance. There are all of these other things that happen with your home that you’ve got to pay for.But every decision we make doesn't have to be based strictly on dollars and cents. No matter what we are, anyone else tells you, sometimes you just really want a house. A home of your own feels like stability. It allows you to put your stamp on your environment. A home is something a lot of people want when they decide to have children.We respect all of those reasons, so if you're bound and determined to do it; we want to show you the smart way to buy a property.Full Article HereShow NotesPsionic Blackberry: A sour from Unsung Brewing.Learn more about your ad choices. Visit megaphone.fm/adchoices
Everyone wants to find success both in their personal lives and their professional lives. Because success is an almost universal desire, there are thousands of books, podcasts, articles, TV shows, and seminars that claim they can teach us how to be successful.And all of the people selling those books and other things have a vested interest in making finding success seem harder and more complicated than it needs to be. But we like to keep things simple and assume you want the same. We love Marcus Lemonis of the TV show The Profit. He is a successful business person and on the show, takes failing businesses and teaches the owners how they can simply achieve success using the Three P's of Success.There is no magic formula, no book to buy, no seminar to attend. You can spend a single hour after you finish reading this (for free!) and implement one small suggestion for each of the Three P's into your personal, professional, and financial life. Making small changes or minor improvements will not only make you more successful but make your life easier too. Building habits and creating systems are the small picture things that make up the big picture things. No one can overhaul their life in a single step but step-by-step, things get better and easier.So what are the Three P's of Success? Let's find out.Full Article HereShow NotesMikkeller and Friends Shake Your Stack: An Imperial StoutA 3 Hour Plane Ride with Sean Penn: Matt's own New England IPALearn more about your ad choices. Visit megaphone.fm/adchoices
We get dozens of emails a week asking financial questions. Sometimes we get a question so good, we want as many people as possible to hear it and the answer. That's how 5 questions episodes were born. We have questions about the 4% rule, staying financially motivated, and making passive income. Let's answer some questions.Full Article HereShow NotesGose Dragon's Milk-White: A white stout.Matt's Home Brew: A Kolsch.Learn more about your ad choices. Visit megaphone.fm/adchoices
A dollar today isn't the same as a dollar tomorrow, that's the time value of money. Risk and return are expecting a dollar risked to earn more than a dollar.The time value of money and risk and return are two core concepts in personal finance. Luckily, each boils down to a pretty simple statement.The core principle of the time value of money means your dollar today is worth more than your dollar tomorrow.Risk and return say that if you are to risk a dollar, you expect gains of more than just your dollar back. For each unit of risk you take on, you expect a slightly more significant unit of return.Even though these money concepts are easy to simplify, I want to dig a bit deeper into each of them.Full Article HereShow NotesMikkeller Brewing Passion Pool - Gose-style ale with Passionfruit and Sea SaltAmerican Solera Movement and Color Member Blend - Foeder Ale Refermented with Chambourcin and Norton GrapesLearn more about your ad choices. Visit megaphone.fm/adchoices
For most people, their mortgage is their biggest debt. And we all know that debt is bad. Debt is an emergency that we must pay off as soon as possible. But is all debt bad? Is paying off your mortgage quickly a good personal finance strategy? Paying off your mortgage more quickly has its advantages when done strategically but there are downsides too.We get a lot of emails asking about paying off mortgages early and people site various reasons for wanting to do so. A lot of people want to join the FIRE movement. They want to quit their jobs, retire much earlier than the typical retirement age of 65, and sometimes start a business with their extra money and time.Mr. Money Mustache is the God Father of the FIRE movement. He paid his mortgage off years ago to be able to live on something like $30,000 a year.Some people just hate the idea of having any debt hanging over their heads and as we wrote, a mortgage is the biggest source of debt for most. And there are some homeowners who have a bad interest rate and want to save as much money as they can in a bad situation.Yes, the idea of being mortgage free is seductive but before you decide anything, we want to show you how to pay off your mortgage strategically.Full Article HereShow NotesPeachy Bones: An India Pale AleJam Skate: A Double IPALearn more about your ad choices. Visit megaphone.fm/adchoices
We all want to get rich or rather wealthy. Being wealthy is much different and much better than being rich. If you want to know how to get rich without getting lucky, Twitter can teach you. A Twitter thread from Naval went viral in the spring of 2018.Full Article HereShow NotesJam Skate: An American Imperial IPA.Trillium Brewing: A Double Dry Hopped India Pale Ale.The Tweet text that inspired this episode. Learn more about your ad choices. Visit megaphone.fm/adchoices
Most people are familiar with Airbnb, the site that lets owners rent out a room or an entire home to travelers. Airbnb has become such a hit that many people use it exclusively when traveling for pleasure, work, or any other reason. Goodbye cramped hotel room, hello fully furnished house!And Airbnb isn’t just a hit with those renting a place to stay. Airbnb is the most profitable way to make money in the gig economy.What it did show was that 85% of gig economy workers make less than $500 per month.But, Airbnb hosts, on average, make more than any other gig workers and are raking in an average $924 per month.In fact, Airbnb can be more, a lot more, than a way to make a little money on the side. You know Airbnb but you may not be familiar with the acronym FIRE. It stands for Financial Independence Retire Early. And it’s more than an acronym. FIRE is a whole movement championed by people like Mr. Money Mustache and Tim Ferriss.And the Retire Early part doesn’t mean retiring at 55, it’s more like retiring at 30. If you’re grinding away at a 9-5, have a lot of responsibilities, are in low-paying work, or don’t have a second home just sitting around waiting to host Airbnb guests, you might think this episode isn’t for you.But wait until you hear the crazy story our guest is going to share. Zeona went from zero to FIRE using Airbnbs that weren’t even hers! Setting yourself on FIRE with Airbnb can be done by just about anyone.Full Article HereShow NotesYou’re Killin Me Smalls: A session ale IPAThe Truth Imperial: An IPA from Flying DogZeonaMcIntrye.com: Zeon's consulting siteLearn more about your ad choices. Visit megaphone.fm/adchoices
We get some interesting questions from our listeners, and we like to address them on the podcast so the answers can help anyone who might have similar questions. Today we’re answering questions about raising rich kids, hiring help, and a $2 million inheritance.Full Article HereShow NotesSaigon Scooter Selfie: A Vietnamese Style Coffee stoutHell or High Watermelon: A wheat beer brewed with real watermelon.Learn more about your ad choices. Visit megaphone.fm/adchoices
For most people, their home is their most significant investment. As such, you not only want to protect your investment but increasing a property's value is important too. The right home improvements can do it. Doubling your property’s value might be a little too ambitious for anyone who isn’t a professional real estate flipper or property developer, but some money spent in the right places will improve your property’s value.Full Article HereShow NotesOak and Orchard :A sour from Epic Brewing. Hammertime Porter: A name Andrew and Matt made up in the absence of the actual name! Simple Wealth:A tool Andrew built to help compare rental properties. Learn more about your ad choices. Visit megaphone.fm/adchoices
The whole reason LMM started was to give as many people as we could reach free financial help. And in the past seven years, we’ve done that. We know because we get emails daily from people telling us that the show has helped them.We have dozens of shows and hundreds of articles that give free financial help to anyone who finds us. But not everyone can find us. There are millions of people who have no idea what a podcast even is.And because LMM is a podcast and a website, we are naturally limited to what we can do to help people. Most of what say and write is broad and general, meant to help the most people possible. For those with specific circumstances, it can be hard to translate our general advice into actionable advice.Some people are so lacking in personal finance education that even the material we create, especially for beginners is beyond them. And our content is only available in English which not everyone speaks or reads. Some people can absorb information through reading or listening, but not everyone learns the same way. Some people need intensive, tailored, one on one help.We want to help everyone possible but can’t do it alone. But you can get free financial help, one on one support right in your community.Full Article HereShow NotesKBS: A barrel aged stoutSpace Clouds: An American wild ale.Urbanupbound.org: Get or give free financial email@example.com: How to reach our guestLearn more about your ad choices. Visit megaphone.fm/adchoices
If you are interested in personal finance, you’ve probably heard the term timing the market. There is some debate about whether market timing is a good investment strategy or something impossible, or nearly impossible to do. You probably can't time the market. Unless you’re Warren Buffett which you are not.Even if you’re just a casual observer of economic news, you hear a lot of questions about what’s happening with the stock market or the housing market. These questions create a lot of speculation, but what should the average investor which most of us are, should be doing with our investments based on all of this speculation and crystal ball gazing?By not timing the market are we losing out on price movements that could net us significant market returns? If we’re on the brink of another Great Recession does the buy and hold strategy that LMM has been preaching from the beginning still stand? Should we stick to our index fund or should we all become day traders? It’s enough to make even the soberest long-term investors second guess themselves.We’ve attempted to address some of these issues with our Golden Butterfly, Recession Fire Drill and Investing in the Age of Anxiety episodes. But those episodes have generated some additional questions from listeners about investment decisions and timing the market. We’ll tackle those questions for you.Full Article HereShow NotesAlien Church: A New England style IPA.Cheap Cologne: Matt's own Kolsch.Learn more about your ad choices. Visit megaphone.fm/adchoices
If you run your own business, you go to great lengths to make sure that your business is a profitable one. Both Andrew and Matt run their own businesses. They regularly go over their accounting to see if the businesses are spending too much money and if they are, where? Do the profit margins need to be increased? How much money is being held in reserve in case of a period of lower cash flow?But how many of us do these things and ask these questions when it comes to our personal finances? We watch every penny going into and out of the business’s bank accounts but we’re much more cavalier about our personal bank accounts. It’s the weird dichotomy where we will sometimes say mean or rude things to friends or loved ones that we wouldn’t dream of saying to a stranger.Perhaps it’s because it’s easier to be objective about our business than our personal life. Ever how much you consider your business to be your baby, a part of you, it’s not you. Your life, which your personal finances are a big part of, is you. Your business is a thing but you’re a person and people have desires. You’ve never treated your business to a new pair of shoes or an expensive dinner out. How about yourself? Exactly!The question we’re asking is if you looked at your personal finances as if you were running a business, would you still be in business? You already run a profitable business, let’s focus on becoming a profitable person.There are seven principles to becoming a profitable person. We’ll explain each one.Full Article HereShow NotesTen Fiddy Barrel-aged Imperial StoutTor Triple Black IPA from Norway Black Ball or BaleLearn more about your ad choices. Visit megaphone.fm/adchoices
Some people who are hesitant to invest in the stock market are willing to invest in gold. Why? Gold is tangible, you can see it, hold it, and keep it right in your own house (or bunker). You can buy it from some guy in a late night infomercial. You can buy it with images of the fallen Twin Towers on it. Or an American eagle.You can’t say any of that about investing in the stock market! When you own stock, you don’t own a tangible thing. You have to deal with some slick stockbroker if you want to buy and sell it (you don’t). And stocks don’t come in a limited edition collector’s box.LMM hasn’t discussed gold very much in the past and like a lot of you, thought it was something only Doomsday preppers were interested in so not really relevant to us or our audience. But while doing research for the Golden Butterfly episode, we learned some legitimate reasons for investing in gold and none of them are related to the zombie apocalypse that is surely coming.Many of our listeners wanted to know more about it too, why and how to invest in gold. We got a lot of emails asking questions. You asked and we answered. This is all things gold.Full Article HereShow NotesNorthwestern University CFP Program - Prepare for a career as a financial planner Learn more about your ad choices. Visit megaphone.fm/adchoices
We know that none of you likes to think about death, but it’s inevitable, and you have no idea when. For the majority of us, the most important thing in our life is the well being of our family. We work hard for them; we take care of them. But how can you do that when you’re no longer here? By establishing a trust fund and a will. Don’t wait; there’s no reason to. You can finish reading this, spend a few minutes and a few hundred dollars and make sure your family is taken care of. Because what else is there?Full Article HereShow Notes18 Watt Session IPA: An IPA from SingleCut. Fruh Kolsch: A German-style beerLearn more about your ad choices. Visit megaphone.fm/adchoices
We love getting listener questions and we’ve had a lot recently so it’s time for 5 awesome questions from you. We’ll cover bond ETFs, the books we love, transitioning investments, long term investing, and retirement planning.Thanks, Everyone!We really appreciate your questions. After nearly seven years of episodes, we sometimes feel like we've covered everything but you all always throw something new at us. And if you're wondering about it, lots of other listeners are too. That's why we do these 5 questions episodes, so we can address your questions to a wider audience. Keep them coming!Show NotesLittle Sal: A sour aged with blueberries.Fruh Kolsch:A fermented beer.Learn more about your ad choices. Visit megaphone.fm/adchoices
Fear and anxiety are two different things. Some of us fear investing because we don’t know how to invest and that’s understandable. Investing can be intimidating. It has a language all its own which seems foreign to beginners.There are plenty of people who have a vested interest in making it seem more complicated than it is. If you don’t think you can possibly understand how investing works and how to invest successfully, you are more willing to pay someone else to do it for you.And perhaps the reason we fear investing most, it’s our money on the line. If you get it completely wrong, you can lose money, a lot of it. People who are anxious about investing don’t necessarily fear it. They speak the language, they’ve educated themselves on how to invest well, and they understand that while you can lose money, over the long haul, you make money when you invest.The anxiety is tied to the things going on around us that we can’t control. A recession is coming and probably sooner rather than later. Many investors in their 30s and 40s remember the impact of the last big recession all too well. Jobs lost, homes lost, retirement savings decimated.Automation is going to eliminate not only jobs but entire industries. And wages have been stagnant since the 1970s. When you put all of these things in a big pile, well, you can see why people might feel anxious.But we have to overcome our anxieties just as we have to overcome our fears. Investing in the age of anxiety is tough, but we can do it.Full Article HereShow NotesGoose Island Bourbon County Brand Stout: Aged in Bourbon barrelsAun Mas Cafe Jesus: Evil Twin BrewingBroke Millennial: Where you can find all things, ErinLearn more about your ad choices. Visit megaphone.fm/adchoices
Marie Kondo and her brand of decluttering and organizing are everywhere right now so we thought we’d hop on the bandwagon. And it’s not really much of a stretch. Our finances can become as cluttered and chaotic as our homes.But the consequences of disorganized finances can be much worse than those of a disorganized house (unless we’re talking Hoarders level of disorganized). When your finances are a mess, it can cost you money. Late fees, returned payment fees, deposits for utilities.Organizing your home and your finances have another thing in common. Neither is a one time job. If you let it go for too long, the job becomes completely overwhelming. But if you just do a few little things every so often, a big job just becomes a series of small tasks many of which can be taken care of in just a few minutes.Get ready to Marie Kondo your finances so they spark joy!Full Article HereShow Notes Goose Island Bourbon StoutOak Aged Stout Vanilla Dogfish HeadLearn more about your ad choices. Visit megaphone.fm/adchoices
If you’ve ever heard of using your whole life insurance policy (whole life as opposed to term life insurance) like a savings account to borrow against for personal use, then you’ve heard of the Infinite Banking Concept (IBC) - whether you realized it or not.The idea behind it advocates becoming your own bank by leveraging your whole life policy for easy access to cash while sidestepping high-interest payments from lenders in the form of loans.The main point of the IBC is that you lose money to creditors on the various loans you take out over your life. Things like:MortgagesCar loansCredit cardsCollege loansAll of the above examples will deplete your wealth over your lifetime in the form of interest payments.What the IBC advocates is by aggressively saving your money in whole life insurance, you could use that money to fund big-ticket items like a house or college tuition with your policy and not lose money to interest payments. It’s like an interest-free loan.In essence ~ Be your own bank.Full Article HereShow Noteshttps://www.ommegang.com/beers/game-of-thrones/https://infinitebanking.org/about/https://www.whitecoatinvestor.com/a-twist-on-whole-life-insurance/https://www.whitecoatinvestor.com/debunking-the-myths-of-whole-life-insurance/https://www.investopedia.com/terms/w/wholelife.asphttps://www.insuranceandestates.com/pros-and-cons-of-the-infinite-banking-concept/https://www.m1finance.com/Learn more about your ad choices. Visit megaphone.fm/adchoices
Did you know that almost half of Americans would not be able to come up with $400 to cover an emergency? And if ever there’s a genuine ‘need money now’ situation, it’s an emergency. If that isn’t shocking enough, 25% of those earning more than $100,000 are among that 47%. Sooner or later it happens to the best of us; you’re in a position where you need money now. If you are in a jam and need to come up with extra funds in the short-term, don’t stress out just yet. We’re here to help you make money today.It's scary to be in this position, and you might be tempted to do things that will make the problem even worse. Take a deep breath and read on. We are going to help you find the money you need.Full Article HereLearn more about your ad choices. Visit megaphone.fm/adchoices
Today on the show we have New York Times bestselling author and founder of I Will teach You To Be Rich Ramit Sethi on the show to talk about Mastering Psychology.If you follow all things personal finance, you know the name, Ramit Sethi. He wrote the best selling book, I Will Teach You To Be Rich and it was published at the worst point of the financial crisis in 2009. Ten years on, 98% of the advice in the book is still applicable. The recipe for getting rich doesn't really change very much over time.Now on the eve of its tenth anniversary of his first super successful book, comes a significant cover-to-cover revision. At the core of the revised book is Ramit’s shows you step-by-step how to beat banks and credit cards at the fee game, automate your savings and investments, negotiate a raise, manage student loans, and enjoy vacations and other things you love by practicing conscious spending. Full Article HereShow Notes18 Watt Session: An IPA from Beer Smiths.Technicolor Splendor: A Double IPAYou can preorder your copy of Ramits' new bookhere.Learn more about your ad choices. Visit megaphone.fm/adchoices
It's time for 5 questions about debt forgiveness, credit scores, and more Golden Butterfly. We got a ton of great questions lately, and the Golden Butterfly episode generated a lot of interest, so we wanted to dive a little deeper.We've been doing 5 questions episodes more regularly because we get so many great questions so keep sending them in!Full Article HereShow NotesImperial Doughnut Break: Evil Twin Brewing.Canvas:Outer Range Brewing CompanyLearn more about your ad choices. Visit megaphone.fm/adchoices
Oh to be young again or even just younger than you are now. Just think of all the things you would do differently. You wouldn't waste so much time dating losers, you would have taken better care of your health. So many mistakes. Youth is wasted on the young as the saying goes. But perhaps no mistakes sting quite so much as the money mistakes we made.Maybe you got into credit card debt, bought a house you couldn't really afford or lost a bundle on a bad investment. Or perhaps worse, waited so long to invest that you're scrambling to catch up so you can have enough money to retire. We all have the benefit of hindsight when it comes to the dumb things we did or did not do when we were younger. We can't change those mistakes but we can learn from them, correct them where we can, and not make them again.We have made a lot of money mistakes and we'll probably make more in the future. But looking back, this is the money advice we would give ourselves.Full Article HereShow NotesGrim Blended Mix:A Cultured Sour AleHigh Fiving a Million Angels: Matt's own brew, a New England Style IPALearn more about your ad choices. Visit megaphone.fm/adchoices
A lot can happen over the decades. There will be recessions, bear markets, bull markets, political upheaval, possibly even depressions. What should we do with our money in each of these scenarios? Do we up-end our asset allocation every time some pundit is on CNBC screaming at us?Certainly not. One of the key components of our investment philosophy is to set it and forget it. When you are constantly buying and selling based on the prevailing economic conditions, you’re practicing the exact opposite of set it and forget it investing.We need to create a portfolio that performs well in all conditions. Well, we don’t need to create this portfolio because someone has done it for us. And that someone is not just anyone. He happens to be Bridgewater Associates hedge fund manager Ray Dalio, one of history’s legendary investors.Ray Dalio created what is known as the All Weather Portfolio which contains the exact asset allocation you need to make money in any kind of economy. But Ray Dalio’s All Weather Portfolio has some competition, in the form of the Golden Butterfly Portfolio. LMM is a huge Ray Dalio fan. Can the Golden Butterfly best our boy?We love a good smackdown so we’ll breakdown the All Weather Portfolio and the Golden Butterfly Portfolio. May the best portfolio win.Full Article Here Show NotesPhiloso Raptor Jersey City Belgium Style AleDouble Dry Hopped Coriolis Effect New Zeland Style IPAGet Started Investing BettermentLearn more about your ad choices. Visit megaphone.fm/adchoices
Rental properties can be a great source of passive income but there are a lot of variables. What do you need to know to make sure you buy the right rental properties? Well, doing is the best way to learn anything.We podcasted about rental properties and wrote about rental properties and built a tool to help you find and compare rental properties. Oh, and Andrew and Laura bought 3 rental properties in quick succession.Mistakes have been made and lessons have been learned. Is cash flow the most important determining factor? Do you need to pay a management property? That cuts into your profits after all.Once you have a set of criteria that a house must meet in order to be a good real estate investment, should you change it? If so, when and why? If a tree falls in your front yard in Georgia but you live in Hoboken and don’t hear it, did it really fall?A few years ago LMM went on something of a rental property tangent. We were excited and you all got excited too. But then some big things happened. LMM became a full-time occupation, new sites were built and launched.During that time, we got lots and lots of emails wanting advice on buying rental properties and lots of people requesting an update on how the properties Andrew and Laura bought were doing. Did they regret buying them? Were they planning to buy more?We heard you. So here it is, 3 rental properties and 2.5 years later, we’re spilling the tea.Full Article HereShow NotesRaspberry Blush McKeller and Friends: A delicious sourNew England Style IPA own brewRoofstock - A Marketplace for Turnkey Rental PropertiesSimple Wealth - Research and evaluate rental properties and build a profitable real estate business.Learn more about your ad choices. Visit megaphone.fm/adchoices
We love 5 questions episodes because they are based on questions our listeners want answers to. We’re going to cover questions related to Betterment’s Smart Saver Account, student loans, investing with Fidelity versus Vanguard, your house as a retirement fund, and incorporating a business.Full Article HereShow NotesSide Squeeze: Gun Hill BrewingEchos: Outer Range Brewing CompanyKeep Em Coming!Thanks to everyone who wrote in with questions. We choose questions that cover topics lots of people are writing in about so we can reach a lot of you in one place. If you have questions, hit us up at firstname.lastname@example.orgLearn more about your ad choices. Visit megaphone.fm/adchoices
We’ve all made New Year's resolutions and then a year later, failed to achieve them. What if instead of planning ahead for one year, we made a ten-year plan? Ten years is a long time. You have time to fail and learn and try again. If you want to achieve not just a few resolutions but a remarkable life, you need to embrace the idea of creating a ten-year plan.Full Article HereShow NotesPillow Hat Little IPAOuter Range Shade it Black IPALearn more about your ad choices. Visit megaphone.fm/adchoices
The American Dream. Most of us were brought up with the idea of the American dream and home ownership has been sold to us as a fundamental part of that dream. But what’s so great about owning a home? Is it a great investment? No, it isn’t, not if you’re planning to live in it yourself. An investment is something that makes you money. A house does not make you money, not even after you’ve paid off your mortgage because you still have to pay for things like repairs, maintenance, and property taxes. Ideally, your home does make money once you sell it but there is no guarantee of that as we’ll see when we look at Matt’s numbers. Full Article HereShow NotesBig Ass Money Stout: Evil TwinI Love You With My Stout: Evil TwinLearn more about your ad choices. Visit megaphone.fm/adchoices
A majority of economists polled by the Wall Street Journal think that a recession is in our future in 2020, 59% to be exact. Another 22% say 2021 making over 80% of economists think we’re between 1 and 2 years away from a recession.Ray Dalio, our hero and spirit animal, said in February 2018 that we were about two years away from a recession. So, according to him, we have one year left.It’s time to seriously prepare.We were about 2 years from a recession, 1 year ago. 2019 is either the year you must get your shit together. There is no try. You saw what happened to the unprepared in 2008.Learn more about your ad choices. Visit megaphone.fm/adchoices
He was a writer, a publisher, a statesman, an inventor, and a renowned ladies man. Ben Franklin was a civic activist, an abolitionist and founded the Philadelphia Abolition Society, the first abolition organization in America. He was the first person to petition Congress to abolish slavery two months before his death in 1790, decades before the country fought a Civil War over the issue.He was timeless because Benjamin Franklin quotes are still relevant today.And he knew a thing or two about money because Forbes ranks him as the 89th richest man in American history. That even though he never patented any of his inventions. He preferred to gift them to the public as so many were things he invented to make everyday life easier.Full Article HereShow NotesAlien Church: A New England IPAGalaxy Double Dry Hopped Juicy Bits Weld WorksLearn more about your ad choices. Visit megaphone.fm/adchoices
Today we’re talking about The FIRE Movement and the skills and mindset used to become Financially Independent which are diametrically opposed to a life of Early Retirement. In fact, Early Retirement will kill you. Figuratively and literally. F.I., R.E., and F.I.R.E. aren’t destinations, they’re milestones.The movement, that stands for "financial independence, retire early", generally involves frugality and saving as much money as possible in order to get out of the rat race and spend your days doing what you want but having the freedom to live the way you want takes discipline and planning. Show NotesGun Hill Side Squeeze - : Belgian Saison (ABV): 5.10% Hip To the Lingo WeldWerks Brewing Co. - New England-style IPA brewed with Amarillo, Simcoe, & El Dorado hops (ABV) : 7.1% Learn more about your ad choices. Visit megaphone.fm/adchoices
Maybe you shop too much or are afraid of investing. As it turns out, it’s mostly your personality that guides how you deal with your finances. We call it your Money Personality and we want to break down what the four personality types are and how you can lean into them to improve your finances.Your money beliefs shape your decisions. So by understanding or recognizing your money personality you can find your weak spots and fix them as well as improve on your strengths. Knowing what drives your financial decisions can help you reach your money goals. Full Article HereShow Notes: ScorpionBowlIPA - Stone Brewery. To create a recipe so tropical and fruity without the addition of fruit was no feat our team of brewers would leave up to the gods. They took floral and citrus notes from Mosaic, Loral and Mandarina Bavaria hops to dish up a mouthwatering fruit punch to the palate. Get deserted on your own island or share with others. One thing is for sure: there is no need to light this one. It is already on fire.Shelter- Outer Range Brewing Co. is focused on brewing the great styles of craft beer that inspire us—Belgians and IPAs—and will strive to become a place and source of inspiration for the people that choose to leave the life below. Money Habitudes - Money Habitudes is an engaging, non-threatening way to help people recognize patterns and perspectives on money.Listen to Advanced IRA StrategiesLearn more about your ad choices. Visit megaphone.fm/adchoices
Today we have guest David Burkus on the show. He is a best-selling author, a sought-after speaker, and business school professor. His newest book, Friend of a Friend, offers readers a new perspective on how to grow their networks and build key connections—one based on the science of human behavior, not rote networking advice. We talk to him about salary transparency and using a network to grow your career and make more money.Show Notes:Friend of a Friend David's Website Philoso-Rapper Beer Learn more about your ad choices. Visit megaphone.fm/adchoices
We all know how important it is to be saving for retirement, the earlier the better. But when it comes to choosing the best retirement accounts the waters can be a bit murky. Today we're talking about all the different types of and help you decided which retirement accounts are best for you.Show Notes: Beer Geek Breakfast Mikkeller and Friends Harvest Special Ale Southern Tier Listen Money Matters Community to send in catchphrasesThe Financial ToolboxLearn more about your ad choices. Visit megaphone.fm/adchoices
This weeks we are covering five listener questions are on vesting, budgeting styles, starting an opportunity fund, IRA's and starting a blog.Question One: Balance between the spender and the saverWhat I struggle with the most it getting my spouse to follow the budget. I have tried mint, and YNAB and a cash envelope system. How do I get her to follow a budget. Or maybe how do I 'trick' her into it? I'm not going to leave my spouse because of some money issues that don't cause us negative effect. We just aren't making gains in our life. What happens when your partner has a different view on budgeting that you do? How do you find a system that works for both styles?Question Two: Starting a BlogBetter to start a blog sooner or wait till there is more content? Start now with 1 article, or wait 2 months and start with 15?Question Three: IRA’sNow a days people tend to make more and more lateral movements in their profession, collecting more and more IRAs. I was wondering if there was any research out there that suggests that merging IRAs to a currently higher performing IRA tended to outperform keeping a more diversified portfolio.Question Four: Opportunity fundAndrew has described the concept of an opportunity fund and has also mentioned that this current bull market run may be due for a significant correction. I am 31 and currently have a 90/10 stock/bond split in my Betterment account. If its more likely than not that a correction hits the stock market soon and prices drop, would it be prudent to slide my Betterment portfolio to a more conservative stock/bond ratio (say 60/40 or 50/50) in advance of this future correction. This would sort of be like a hedged "opportunity fund" within my Betterment account, and this extra money in bonds could then be used to buy more stocks once the correction has fully hit and stock prices are low. What do you think?Question Five: VestingMy employer enrolls all employees in an ESOP (employee stock ownership plan). Essentially, every year, each employee will receive a percentage of their base salary in stocks of the company, depending on how well the company does that year. After I have worked for the company for so many years I become fully vested in the stock I have been given. Before that time I am only partially vested (20%, 40%, 60%, 80%). Once I retire or leave company I will be forced to sell the stock back to the company at my vested percentage, I can't do anything with the stock before that.My question is how would you incorporate an ESOP benefit into your Financial Blueprint?Learn more about your ad choices. Visit megaphone.fm/adchoices
Unfortunately, there are quite a bit of predatory financial schemes out there including pyramid schemes, sold debt, predatory lending, eve your financial advisor. In this episode, we’re going to try and shine a lite on them so in the very least you can approach them “eyes wide open”. Show Notes:Heaven Hell or Hoboken from 902 Brewing Co - IPA BeerAvery Promiscuous - Barrel aged Sour BeerThe Financial Gym- Put your assets to workLearn more about your ad choices. Visit megaphone.fm/adchoices
The Personal Finance Blueprint 2.0 will show you how to build a strong financial foundation and show you when and where to start with investing.Show Notes Freddie Murkury IPA Mikkeller Brewing San DiegoLeftover - Matts new home brewBetterment Smart SaverSimple Bank- No ATM fees hereLearn more about your ad choices. Visit megaphone.fm/adchoices
There is a lot of chatter in the personal finance world about passive income, why you need it and how great it is. But what is it and why is it such a topic of conversation? Passive income is money that you earn without doing much to make it. Some passive income ideas take a degree of upfront work to earn, like writing an e-book and some don't take any effort at all, such as investing with a robo advisor. Today we talk about what exactly passive income is and understanding the non-passive nature of building it.Full Article HereShow Notes:Seated: You nee to use Seated to book restaurant reservations. Every time you complete a reservation, you get a gift code for up to 25% of your bill that you can use at Amazon, Uber, or Starbucks. The rewards are available within 24 hours of your completed reservation. Laura and I almost exclusively eat out with Seated because it saves us so much.Paribus: Receiving refund checks are our favorite past-time. As it turns out, stores owe you money but they don’t pay if you don’t ask. That’s where Paribus comes in – they go to bat for you. Price drop? Get cash back for the difference. Deliveries arrive later than advertised? Get cash back.Fundrise: Did you know that investors with 20% allocated to real estate outperform those who only invest in stocks and bonds? Diversify without the dramatics of actual tenants. The minimum investment is $500.Lending Club: The banks had a monopoly on personal loans until Lending Club came along. Now you can get a loan sourced from normal people. Reduce the cost of your debt and refinance. Lending Club has competitive rates and borrower benefits.Drop: Earn cash rewards from your favorite brands. Drop is the free app that's giving out millions in cash rewards for the spending you do everyday. BizBuySell: BizBuySell is the Internet's largest and most heavily trafficked business for sale marketplace, with more business for sale listings, more unique users, and more search activity than any other service. BizBuySell also has one of the largest databases of sale comparables for recently sold businesses and one of the industry's leading franchise directories. Learn more about your ad choices. Visit megaphone.fm/adchoices
Can money buy happiness? Science is here once again to save the day and show us exactly how to spend our money (or our time) to increase our level of happiness. We'll investigate the science of buying happiness. If you aren't buying happiness, you're using your money the wrong way. Full Article HereShow NotesBeer Geek Breakfast: An Oatmeal Stout.Rumpkin: A pumpkin beer aged in rum barrels.Join the Listen Money Matters Community on Facebook by visiting listenmoneymatters.com/community to send in new catchphrases for the show.And if you have any questions or topics you’d like us to talk about, email us at email@example.com. All the tools and resources we usually mention on the show are available at listenmoneymatters.com/toolbox.Learn more about your ad choices. Visit megaphone.fm/adchoices
We get all kinds of great questions, and it can be hard to choose just five, but everyone is interested in making money, we have a ton of questions about real estate investing, and timing the market is something we covered years ago so wanted to revisit it for our newer listeners. We love listener questions, and we have good ones. Here are 5 questions about making money, REI, and timing the market.Full Article HereShow NotesSouthern Tier Pumpking: The first pumpkin beer of the season!Southern Tier Pumpking:Rum barrel aged.Join the Listen Money Matters Community on Facebook by visiting listenmoneymatters.com/community to send in new catchphrases for the show.And if you have any questions or topics you’d like us to talk about, email us at firstname.lastname@example.org. All the tools and resources we usually mention on the show are available at listenmoneymatters.com/toolbox.Learn more about your ad choices. Visit megaphone.fm/adchoices
There are dozens and dozens of figures and formulas around anything related to investing but some of us (me) are math deficient and even if we are math savants. Sitting around calculating things before making any investment decisions is the total opposite our LMM’s Set It And Forget It philosophy. So if you have these few back pocket rules in mind, the mathematics of investing will be less mysterious. We know math is hard, but the mathematics of money are really straightforward and can help you make better financial decisions.Full Article HereShow NotesRiver Horse Tripel Horse:A Belgian Style Tripel Ale.WeldWerks Brambleberry Sour:A wheat ale.Join the Listen Money Matters Community on Facebook by visiting listenmoneymatters.com/community to send in new catchphrases for the show.And if you have any questions or topics you’d like us to talk about, email us at email@example.com. All the tools and resources we usually mention on the show are available at listenmoneymatters.com/toolbox.Ahrefs is the secret to LMM’s success. They cover every aspect of SEO. If you want to start a blog or improve traffic to an existing one, this is the tool. You can win a free Lite annual subscription by tweeting @ahrefs and @MoneyMattersMan and telling us why you should be our winner.Learn more about your ad choices. Visit megaphone.fm/adchoices
If you’re interested in personal finance, you know who Suze Orman is. She has written nine best-selling books, is a financial advisor, a speaker, and a television and podcast host. Suze’s book Women & Money addresses some of the financial issues that are unique to women.Full Article HereShow NotesSchlafly India Pale Lager: A clean, malty lager.Brunch: Matt’s homebrewBe Good or Be Gone:Suze sold out the legendary Appollo theater. The event was filmed. You can catch Suze Orman: Women & Money October 1 on the OWN Network.Ahrefs is the secret to LMM’s success. They cover every aspect of SEO. If you want to start a blog or improve traffic to an existing one, this is the tool. You can win a free Lite annual subscription by tweeting @ahrefs and @MoneyMattersMan and telling us why you should be our winner.Join the Listen Money Matters Community on Facebook by visiting listenmoneymatters.com/community to send in new catchphrases for the show.Learn more about your ad choices. Visit megaphone.fm/adchoices
Millions of us have student loan debt, and it hampers our progress towards financial independence. Let's get rid of it! We'll teach you how to handle your student loans like a pro. Because student loan debt is such a serious issue and because there are so many different ways to deal with it, we wanted to bring in an expert. Travis Hornsby from Student Loan Planner to explain how to handle your student loans.Full Article HereShow NotesSchlafly Kolsch:A classic, golden ale.Vincent Van Couch: An American wild ale.Ahrefs is the secret to LMM’s success. They cover every aspect of SEO. If you want to start a blog or improve traffic to an existing one, this is the tool. You can win a free Lite annual subscription by tweeting @ahrefs and @MoneyMattersMan and telling us why you should be our winner.Learn more about your ad choices. Visit megaphone.fm/adchoices
Do you know your net worth, does it matter? Yes, knowing your net worth is important, and that number is important because what gets measured gets managed. If you don't know this number, you don't have an overall picture of how financially healthy you are. There are tons of numbers to track when it comes to your finances, and net worth is one of them. But what exactly is net worth and is it a number worth tracking?Full Article HereShow NotesSchlafly Ibex Celler:A Barrel-aged Imperial Stout.Armadillo Ale Works Brunch Money:An Imperial Golden StoutAhrefs is the secret to LMM’s success. They cover every aspect of SEO. If you want to start a blog or improve traffic to an existing one, this is the tool. You can win a free Lite annual subscription by tweeting @ahrefs and @MoneyMattersMan and telling us why you should be our winner.Learn more about your ad choices. Visit megaphone.fm/adchoices
In fact, 2018 has been a record year for stock buybacks. By the end of the year, companies are predicted to have spent $1 trillion on buybacks. So why are so many buybacks happening now? The GOP tax cuts. The economy is doing well, and a lot of companies have a surplus of cash and don’t want to sit on it because it puts them at risk of being bought and it pisses off shareholders who want that money returned to them in either dividends or an increase in stock value. So what the f**k are stock buybacks exactly and what do they mean for you?Full Article HereShow NotesSchlafly Proper Cider: A raspberry hard cider.WeldWerks Conflict Resolution:An 8.2 ABC sour IPA.Thank you to our sponsor: Ahrefs Ahrefs is the secret to LMM’s success. They cover every aspect of SEO. If you want to start a blog or improve traffic to an existing one, this is the tool. You can win a free Lite annual subscription by tweeting @ahrefs and @MoneyMattersMan and telling us why you should be our winner.Learn more about your ad choices. Visit megaphone.fm/adchoices
Traveling is one of life's great pleasures, and it can be done for less money than you think. Especially if you have the right travel rewards cards and know how to use them. You can certainly go down a rabbit hole of ways to earn and maximize points. But realistically most of us don't have the time or patience for that. These are travel hacking tips that anyone can do. Anyone who pays off their credit cards in full every month.Full Article HereShow NotesSchlafly Local Oak:An ale aged in Missouri white oak tanks.Schlafly India Pale Lager:Tangerine and citrus flavors combined with a malty profile.Ahrefs is the secret to LMM's success. They cover every aspect of SEO. If you want to start a blog or improve traffic to an existing one, this is the tool. You can win a free Lite annual subscription by tweeting @ahrefs and @MoneyMattersMan and telling us why you should be our win.Learn more about your ad choices. Visit megaphone.fm/adchoices
Investing advice is often crafted for high earners. What about the rest of us? We have investing tips when you don’t have money to invest. The most important component of investing is not having a lot of money to invest; it’s the amount of time whatever money you can scrounge up is invested. So start checking your coat pockets and couch cushions.Full Article HereShow NotesChimay Pierre Trappist Grand Reserve Ale: A dark ale.Raspberry Lemonade Milkshake:An IPA from WeldWorksLearn more about your ad choices. Visit megaphone.fm/adchoices
Work-life balance gets a lot of ink but how do you achieve it? We'll show you an honest approach to work-life balance with Kevin Lawrence. Work-life balance has become one of those annoying buzzwords, but it does have merit. We'll strip away the touchy-feely aspects of the concept and teach you how to achieve it.Full Episode HereShow NotesLeinenkugel’s Summer Shandy: A traditional weiss beer with refreshing natural lemonade flavor that makes it the perfect summer beer.WeldWerks Spectral Class: A New England style IPA.Modelo Negra: A full-flavored lager.Your Oxygen Mask First: Kevin's book.LawrenceandCo.com: Where you can find more information on Kevin.Now Discover Your Strengths: Find out what you're good at.Learn more about your ad choices. Visit megaphone.fm/adchoices
The media loves to talk about the economy in a broad sense but what does it mean for us individually? We'll explain how the current economy is affecting your wallet. There are four major economic topics that are generating most of the ink in the past several months. What's happening in the current economy and should we worry?Full Episode HereShow NotesNeither host is drinking beer this week! I think that is a first.The Financial Toolbox: All the best stuff we use to manage our money.Learn more about your ad choices. Visit megaphone.fm/adchoices
Buying a home is still the American dream for many people but with home prices going up and up, how can you save up for a house without sleeping in your car? With the median home price in the U.S. at $188,900, it seems impossible. How the hell does someone save up for a house? Buying a home is such a part of the American dream. It seems like once you reach certain milestones that are considered part and parcel of being an adult, every which way you turn, someone or something is telling you to buy a house, you must buy a house! But should buying a home still be a part of the American dream?Full Article HereShow NotesDead Guy Ale: An ale aged in whiskey barrels. Stick's Pale Ale: A sessionable pale ale.Learn more about your ad choices. Visit megaphone.fm/adchoices
We have awesome listeners, and they send in great questions so from time to time we like to answer then on air. If you want to know about 401ks, cash, rentals, and leveraged buyouts, we’re covering it with five awesome questions from you. Full Article HereShow NotesIn the Steep: A double dry hopped IPA.Toolbox:All the best stuff to manage your money.Learn more about your ad choices. Visit megaphone.fm/adchoices
If you’ve listened to LMM from the beginning, you’re going to hear a familiar voice today. If you’ve never heard our early episodes, the voice is going to become familiar. Matt was the original co-host of LMM and was there for about the first 250 episodes of the show. He and Andrew disagreed about the direction of the show, and after a frustrating recording session, things blew up, and Matt left. But like Liz Taylor and Richard Burton, Andrew and Matt just can’t stay apart.Full Article HereShow NotesSo we begin a new chapter at LMM. We will miss Thomas, but this won't be the last you hear from him. If you haven't already, check out his College Info Geek podcast and tune in to future episodes because he'll come back from time to time.If you want to hear some of the old LMM episodes featuring Matt, their still available. One of my favorites was Money for the Love of Freedom. If you like what you hear, stay tuned to LMM and check out Matt's podcast, Money Lab. Salt of the Dog: Brewed with sea salt, coriander, and grapefruit puree.Learn more about your ad choices. Visit megaphone.fm/adchoices
What if we were to value other things in our lives in the same way or even more than we value money? Imagine if it weren’t about money? What if we viewed money for its actual intent, survival?Money is essential, but it shouldn’t consume your thoughts or your life. We should live with money, not for money. This is a podcast about money, but we also believe that money shouldn’t be the most important thing in your life. We have to live with money, but there is more to life than accumulating as much money as you can.Full Article HereShow NotesBitches Brew: An American Double/Imperial Stout by Dogfish Head.Fat Lama: Borrow almost anything.Learn more about your ad choices. Visit megaphone.fm/adchoices
We’re Listen Money Matters, but we’ve never discussed money. Get ready to holla. Dolla dolla bills y’all: The history and evolution of cash. Societies haven’t always used cash to transact business. The evolution of cash is pretty fascinating. Money is around 3,000 years old. Before that, societies bartered. I make candles. You make shoes. I need shoes, and you need candles. I give you some candles, and you give me some shoes. This isn’t a great system though. How many candles are the shoes worth? What if I need shoes, but you don’t need candles? There needed to be a better system.Full Article HereShow NotesStillwater Artisinal Recess: Dry hopped sour ale.Pod Recommendation:50 Things That Made the Modern EconomyLMM Community: Join your fellow money nerds! Learn more about your ad choices. Visit megaphone.fm/adchoices
We all make mistakes, but financial mistakes can be especially costly. These are the biggest financial mistakes people make and how to fix them. There are some mistakes you can’t fix, but financial mistakes usually don’t fall into that category. It’s not always easy, but most financial mistakes can be rectified. Joy Liu from The Financial Gym is here to tell us about the biggest financial mistakes she helps her clients fix.Full Article HereShow NotesTool Box: All the best stuff we use to manage our money.The Financial Gym:A personal trainer for your money!Learn more about your ad choices. Visit megaphone.fm/adchoices
You’ve probably heard the term but might not know what it means. What is an IPO? IPO stands for initial public offering and sometimes called “going public”. It’s the first time a company sells stock to the public. Before an IPO, a company is private with a few shareholders, typically the founders and sometimes professional investors. There have been so big IPOs in the last decade. Some killed it, and some landed with a thud. We’ll explain what an IPO is and whether or not you should invest in one. We’ll explain how they work and whether you should invest in one.Full Article HereShow NotesSiracha Hot Stout: A chile beer brewed by Rogue Ales.Learn more about your ad choices. Visit megaphone.fm/adchoices
No one can predict the future but based on past events; a market correction is coming. You need to start preparing for a market correction with an opportunity fund. We are in the second longest boom cycle in the history of the US. In exactly 12 months we will be tied for the longest with that boom cycle ending in the dot-com bubble in 2000. The low, slow burn of this recovery prevented things from overheating, and we avoided the fast boom-bust cycles that the economy has experienced in the past. There are some signs pointing to an upcoming correction.Full Article HereShow NotesTransmitter Saison Ale: An earthy, dry beer with hints of pepper and fruit.Tool Box: All the best stuff to manage your money.Learn more about your ad choices. Visit megaphone.fm/adchoices
Over the past several years, ride-sharing services like Lyft and Uber have made a remarkable splash in cities across the country. These ride-sharing services give users a platform to request a ride from freelance drivers who can get them from point A to point B safely and conveniently. If you’re looking for a low-cost way to make some extra cash, ride-sharing platforms like Uber and Lyft are a great choice. Want a behind the scenes look at what it's really like to be a driver? We'll talk to Harry Campbell, The Ride Share Guy to find out.Full Article HereShow NotesThe Ride Share Guy: Harry's Website for Uber and Lyft DriversLearn more about your ad choices. Visit megaphone.fm/adchoices
There are only so many hours in a day so you need to build a business that can grow while you’re sleeping, on vacation, or working on your next business. You have to do things that scale when starting a business that will take off. While we are discussing scaling a business, there are plenty of other areas of life that you can scale including investing and video games. To scale a business means to create a system, product, or service that can generate more money through some resource that isn’t your time. Scale is a concept that is meant to support infinite growth. When starting a business, you want to find ways to apply your time and money that are scalable and to shift your focus from things with a hard maximum return to things that have the potential to be infinitely scalable. Full Article HereShow NotesBoard Meeting: A coffee flavored brown ale.Tool Box: All the best stuff to manage your money.Do Things That Don't Scale: The essay Andrew mentioned by Paul Graham.Learn more about your ad choices. Visit megaphone.fm/adchoices
You’ve heard the term diversification, but you might not know precisely what it means. Turns out it’s more complicated than just owning stocks and bonds. We are going to deep dive and give you a master class on diversification with Adam Grealish. Full Article HereShow NotesBoard Meeting: A coffee flavored brown ale.Tool Box: All the best stuff to manage your money.Betterement: A great investing platform and where Adam Grealish works.Learn more about your ad choices. Visit megaphone.fm/adchoices
Almost 50% of Americans cannot come up with $400 if they needed it urgently. 1 in 3 Americans has $0 saved for retirement. In the U.S. it seems we’re much better at spending money then we are saving. This spending problem is leaving too many American households living paycheck to paycheck with close to nothing saved for the future. The savings rate has been falling for most of the past few decades. Maybe we stopped saving when our income growth flatlined after the recession, maybe it’s because we’re being buried in student loan debt, or maybe consumerism has taken over but it doesn’t change the cold hard truth that most people are not prepared for retirement at all. Full Article HereLearn more about your ad choices. Visit megaphone.fm/adchoices
Annuities are not exactly transparent, and neither are the people selling them. They are almost always a terrible investment, and when we explain what the f**k are Annuities, you will understand why and stay far away from them. There is so much misleading information out there for Annuities in no small part because the financial incentives for selling them s is very high. We will take an unbiased look at them. We’ve never accepted a dollar from an annuity company, and there probably won’t be any beating down our door after this!Full Article HereShow NotesTroegenator: A Double Bock with notes of caramel, chocolate, and dried fruit.Toolbox: All the best stuff to manage your money.Learn more about your ad choices. Visit megaphone.fm/adchoices
The worst has happened. Whether their fault, your fault or nobodies fault, you lost your job. We don’t want to make a bad situation even worse by making big financial mistakes. This is what to do after a job loss so you can stay or get back on your feet quickly. We have all probably suffered a job loss at some point so we know how scary it can be. But there are lots of things you can do to mitigate the damage. Full Article HereShow NotesBlunderbuss Barleywine Ale: Aged in oak barrels.Toolbox: All the best stuff to manage your money.Learn more about your ad choices. Visit megaphone.fm/adchoices
We get a lot of questions from listeners, and sometimes they are so good, we want to share them with everyone. Today we answer five awesome questions from you about LLCs, winning the lottery, budgeting an irregular income, Roth rollovers, and buying quality.Full Article HereShow NotesDog Fish Head 60 Minute IPA: A continuously hopped IPA.LMM Toolbox: All of the best stuff we use to manage our moneyLearn more about your ad choices. Visit megaphone.fm/adchoices
There is a lot of misinformation about the 10,000-hour rule theory of self-improvement, and it turns out now all 10,000 hours are the same. We delve into the truth behind the 10,000-hour rule and show you how to become great at anything. It's not really about the number of hours you put into something; it’s about deliberate practice. Full Article Here Show NotesArrogant Bastard: An aggressive beer that is probably too good for the likes of you!Learn more about your ad choices. Visit megaphone.fm/adchoices
Whenever you hear people talk about buying a home, they insist you need a 20% down payment. But there are ways around that. We will show you how to buy a house without putting 20% down. There are some good reasons to put 20% down when you buy a house. But that isn’t realistic for everyone, and it’s not only rich people who deserve to own a home. If you are dreaming of buying a house but can’t come up with 20% down, there are programs that can help. Full Article Here Show NotesArrogant Bastard: An aggressive beer that is probably too good for the likes of you!Learn more about your ad choices. Visit megaphone.fm/adchoices
None of us likes paying taxes, and everyone agrees that the tax code is too complicated. But taxes are not meant as a show of our civic commitment but as a series of incentives set by the government to encourage citizens to do things that grow the economy. And if you look at things that are deductions, buying a home, having a kid, and starting a business, you can see what the government wants us to do to bolster the economy. You know the typical write-offs, but we found 28 tax deductions you didn’t know you could write off. These are tax deductions that most people will be eligible for. If you have a business, you can check out the episode we did on LLCs and S Corps. Full Article HereShow NotesLagunitas Brown Shugga':An American strong ale.Simple Wealth: Research and evaluate rental properties.Learn more about your ad choices. Visit megaphone.fm/adchoices
You’re paying your money manager for his or her expertise, right? They know all the secrets and tricks to picking the right stocks and making the right investments. They know things you will never understand. Well, they don’t. According to the analysis, 99 percent of actively managed US equity funds sold in Europe have failed to beat the S&P 500 over the past 10 years. You need someone with expertise to make sure you don’t lose all of your money when the market is volatile. You don’t. Andrew did the math.Full Article HereShow NotesSerpent's Stout: An American Double, Imperial stout.How Not To Be Wrong: The math behind everyday things.Learn more about your ad choices. Visit megaphone.fm/adchoices
Maybe you are rich. Maybe you are poor. Maybe you have experienced being both at some point in your life. If you haven’t figured it out yet, being rich isn’t all about money. It’s about well-being, abundance, having time, success, and the right mindset. There are definitely social issues that contribute to poverty, however, rich vs poor mindsets can also drive wealth and success. There are many poor people with a rich mindset, financially poor due to circumstance. And there are many trust fund babies with a poor mindset.Full Article HereShow Notes:Order of Man PodcastMenfluential Conference The Dip By Seth GodinLearn more about your ad choices. Visit megaphone.fm/adchoices
At a certain point, you can’t save any more money; there just isn’t anything left to cut. And really, saving money is not nearly as impactful as making more. So whether you want to increase your income to pay off debt, save for a home, take a vacation, or retire early, we have ways to do it. Here are our favorite money making ideas. Full Article HereShow NotesCellar 3 Silva: An Imperial stout.Simple Wealth: Research and evaluate rental properties.Learn more about your ad choices. Visit megaphone.fm/adchoices
The most valuable thing in the world is knowledge. Everything else in our lives, money, health, things, love, they can all come and go. They can all be taken away from us. The one thing that no one can ever take from you once you have acquired it is knowledge. You can lose your money, all of it, and all of the stuff it brought you in an instant and through no fault of your own. But the knowledge you have earned is something that no one and nothing can ever take from you.Full Article HereShow NotesImpending Descent: A Russian Imperial StoutDeep Work: How to focus without distraction.Tax-Free Wealth: The book that started Andrew's rental property obsession!So Good They Can't Ignore You:Debunking the follow your passion myth.Learn more about your ad choices. Visit megaphone.fm/adchoices
The two most expensive things in life are taxes and interest, and we want to avoid both. One of the best ways to avoid taxes is by starting a business. We want to illustrate the massive tax advantages allowed to small businesses and how utilizing these advantages can be as beneficial if not more so as compared to traditional retirement accounts. Also, they can be used in conjunction with retirement accounts for an added big advantage. Today we will discuss LLC vs S Corp and the amazing tax benefits of having a business.Full Article HereShow NotesDisclaimer: We are not tax advisors, and you should consult with one before you start deducting things like crazy and stuff like that - both Thomas and Andrew do.Impending Descent: A bourbon barrel aged Imperial Stout.Gusto: A cloud-based payroll, benefits, and human resource management solution for businesses.Tool Box: All the best stuff to manage your money.Simple Wealth: Research and evaluate rental properties.Learn more about your ad choices. Visit megaphone.fm/adchoices
LMM loves listener questions. If you’re wondering, other people are too and doing a five questions episodes allows us to reach more of you. Today we have five awesome questions from you. Today we will answer your five awesome questions about individual stocks, student loans, the 4% rule, You Need a Budget, and investing 101.Full Article HereShow NotesAsahi Super Dry: A Japanese beer with a refreshing barely flavor.Tool Box: All the best stuff to manage your money.Thanks guys, we love reading your questions. You keep asking, and we'll keep answering!Learn more about your ad choices. Visit megaphone.fm/adchoices
What the f**k are stock options? Options are one of those personal finance concepts that can be intimidating if you aren’t familiar with it but when distilled down, is pretty straightforward. Our guest today, Kal Zurn, from Sharper Trades will break down what stock options are, how they work, what they are used for and why you should care. Full Article HereShow NotesHarviestoun Ola Dubh Special Reserve 21: An old ale style beer.Tool Box: All the best stuff to manage your money.Learn more about your ad choices. Visit megaphone.fm/adchoices
There is nothing more nerve-wracking than a job interview. All those questions and always the dreaded, “Where do you see yourself in five years?” Today we’ll have you navigate the minefield that is a job interview. As we have discussed in our future of work episode, the face of employment is changing. More than ever we need to be able to stand apart from the competition. One important way to do that is to improve your interview skills.Full Article HereShow NotesExport StoutTool Box: All the best stuff to manage your money.Learn more about your ad choices. Visit megaphone.fm/adchoices
The national debt is big boogeyman during election years but how bad is it really and do you need to worry about it? We hear a lot about the national debt, but many of us don’t really know what it is or how it works. Today we will have an a political discussion on how the national debt actually works. There are all kinds of doomsday scenarios surrounding what would happen if the US were to default, but the likelihood of that is pretty low. It could happen but it almost certainly won't. So like Warren Buffett, you can sleep tight and now let the national debt keep you up at night.Full Article HereShow NotesHarviestown Ola Dubh: Ale aged in whiskey casksUnderstanding the National Debt and Budget Deficit: YoutubeTool Box: All the best stuff to manage your money.Learn more about your ad choices. Visit megaphone.fm/adchoices
Our healthcare system is the worst in the developed world, but you can’t opt out of it. Because it affects us all, we need to discuss the importance of understanding the US healthcare system. Our guest today is here to explain how consumers can take back some control of healthcare costs. David Vivero is co-founder and CEO at Amino a healthcare transparency company working to connect everyone to better, more affordable care.Full Article HereShow NotesGrimm Sour Ale: A double dry hopped ale.Tool Box: All the best stuff to manage your money.Learn more about your ad choices. Visit megaphone.fm/adchoices
When the robots steal our jobs, we will have to have money coming in from somewhere to house and feed ourselves? One way to do that is through universal basic income. Last week we spoke about the future of work when automation wipes out 47% of American jobs. That episode begs the questions, will universal basic income be part of our future? Will free money be the answer to our problem? Today we look at the pros and cons of universal basic income and see how free money will effect out future. Full Article HereShow NotesThe Crisp: A German-style Pilsener.Tool Box: All the best stuff to manage your money.Learn more about your ad choices. Visit megaphone.fm/adchoices
Robots are going to take our jobs. Things are changing faster now than even during the industrial revolution. We have to start planning now because the future of work is changing rapidly. This episode is not meant to scare you. It’s meant to prepare you for the changing employment landscape. Breaking the looms is not a long-term solution. Full Article HereShow NotesDouble Negative: An Imperial Stout by GrimmBack Flipping Robot: From Boston DynamicsTool Box: All the best stuff to manage your money.The Rise of Robots: From VoxAutomation and AI are Destroying Jobs, Not Work: From QuartzThe Rise of Machines: From In a NutshellLearn more about your ad choices. Visit megaphone.fm/adchoices
You can DIY a lot of your financial life, but sometimes you need some help. But you only want to choose the best people when it comes to your money. Today we’re discussing how to interview and hire a financial team. Shannon McLay from Financial Gym is our guest today. Financial Gym provides one on one personal training to help people achieve their financial goals. Full Article HereShow NotesSimple Wealth: Research and evaluate rental properties.Tool Box: All the best stuff to manage your money.Financial Gym: Get financial personal trainingLearn more about your ad choices. Visit megaphone.fm/adchoices
Data breaches have been in the news recently, and the headlines are scary. Today Farnoosh Torabi joins us to discuss protecting yourself from credit card fraud and identity theft. Farnoosh Torabi of the So Money podcast is the Chase Slate Financial Ambassador. She can give us the insider’s scoop on how to protect our data and our credit scores from fraudsters and even ourselves. Full Article Here Show NotesGrimm Artisanal Ales: A dry hopped sour ale.Tool Box: All the best stuff to manage your money.Simple Wealth: Research and evaluate rental properties.Learn more about your ad choices. Visit megaphone.fm/adchoices
Most of us spend too much on food. You can still eat well or maybe better than you currently are, and spend less money. Looking for a way to make cheap meals that hit the spot? The shopping trolley is one of the easiest places to cut spending. Here is our ultimate guide to saving money on groceries and making good food on a tight budget.Full Article HereShow NotesThe Science of CookingCooked on NetflixKitchen Confidential Learn more about your ad choices. Visit megaphone.fm/adchoices
There are a lot of personal finance terms thrown around that many of us don’t understand so when we hear them, we just nod and smile. But LMM is all about education, so we’re going to devote this episode to understanding economic bubbles. Bubbles are nothing new. The first bubble may have happened nearly 400 years ago. Our episode a few weeks back on cryptocurrencies got us thinking about economic bubbles. It’s an interesting subject so we wanted to delve further into bubbles.Full Article HereShow NotesSuper Going: A dry-hopped ale with orange zest.Woodchuck Cider: An amber cider.Tool Box: All the best stuff to manage your money.Simple Wealth: Research and evaluate rental properties.Learn more about your ad choices. Visit megaphone.fm/adchoices
We spent years accumulating money for retirement, but when we finally get there, it’s all about decumulation, counting down your money. Learn how to retire and what to do with your time and money. We talk a lot about early retirement, but today we’re talking to someone who’s living it. J. David Stein retired at 46 and had since launched his successful podcast, Money for the Rest of Us. Full Article HereShow NotesMoney for the Rest of Us: People like us, invest like this.Simple Wealth: Research and evaluate rental properties.Learn more about your ad choices. Visit megaphone.fm/adchoices