All About Your Benjamins™

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Financial Planning For Young Professionals With Douglas Boneparth, CFP® (023) Sep 08, 2018

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Many Millennials are entering a stage in their lives where proper financial planning will make a huge impact on their futures. The trouble is, for so long financial advisors didn't want to work with young professionals, which led to a group of individuals believing they don't need or aren't ready for financial planning. Fortunately, there is a growing force of financial advisors dedicating their practices towards the young professional; Douglas Boneparth, CFP® is one of those advisors. Douglas is a financial advisor and the founder of Bone Fide Wealth in New York City, where he helps young professionals establish and build upon their financial foundations. Like so many of my guests, I met Douglas through Twitter; if you're active on or a follower of FinTwit you definitely know him--you've probably seen him on CNBC, read him in various publications, or watched his videos on his YouTube channel. Between running his firm, taking care of his clients, and creating content to help spread financial literacy, Douglas is one of the busiest financial advisors in the business--something I have mad respect for! This podcast has something for everyone: For the young professional (or anyone really), we discuss why they need a financial plan, what financial planning looks like and by default, what bad financial planning looks like, and more. For financial advisors, we discuss why they should be focusing on young professionals, what our business models look like, the future of our business, and more. For fitness buffs, we talk about Peloton bikes. For hip-hop fans, we discuss Eminem, Logic and Kendrick Lamar. If you're a reader of my blog, you certainly fall into one of those categories, and I'm positive you'll learn something beyond the topic of your initial interest. I had a great time talking with Douglas--we kept the conversation going for another hour offline--I should have kept the tapes rolling because there was some good stuff covered. I hope you enjoy! iTunes: All About Your Benjamins The Podcast Ep. 023 Show Notes: Twitter: @dougboneparth Bone Fide Wealth FaAF Apparel IG: Dougnotsofunny CNBC: Financial Planning Is Not A Quick Fix Peloton Bikes Disclaimer: Nothing on this blog should be considered advice, or recommendations. If you have questions pertaining to your individual situation you should consult your financial advisor. For all of the disclaimers, please see my disclaimer page.

Talkin’ Taxes With Bill Sweet (022) Aug 16, 2018

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Unless you're a CPA, you probably don't like to think about taxes, but after listening to this episode with Bill Sweet, you just might. Bill is the CFO and resident tax expert at Ritholtz Wealth Management, one of the fastest growing RIA's in the country, and he is the perfect guest to make taxes interesting. I asked Bill to join me to discuss the importance of considering the tax implications of our financial decisions. Without crossing the line of giving advice, we discuss a number of different ways to as Bill likes to say, "pay the least amount of income taxes on our assets over time". I cannot stress enough that the ideas Bill and I discuss should not be mistaken as advice; tax planning is dependent upon your personal situation, so consult your tax advisor to discuss ways to improve your plan. I've been fortunate to know Bill for a few years now, and I always have a great time when I get a chance to talk to him. In addition to being a great advisor and tax wizard, Bill is just an overall great guy, and I'm excited for more people to get to know him! I hope you enjoy! iTunes: All About Your Benjamins The Podcast Ep. 022 Show Notes: Twitter: @BillSweet Family Inc. By Douglas McCormick Michael Kitces: Roth vs Traditional IRA: The Four Factors That Determine Which Is Best Disclaimer: Nothing on this blog should be considered advice, or recommendations. If you have questions pertaining to your individual situation you should consult your financial advisor. For all of the disclaimers, please see my disclaimer page.

Esports and Gaming With Blake Street (021) Jul 30, 2018

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Gaming and esports are quietly becoming a multi-billion dollar industry, and it's not just the game and device makers profiting. Gamers and e-athletes are receiving college scholarships, endorsements, and surprising incomes for playing their favorite video games. Blake Street, a founding partner and Chief Investment Officer for Warren Street Wealth Advisors, is not only a financial advisor but a gamer himself. I asked Blake to join me for a discussion about all things gaming. We cover everything from the difference between gaming and esports, how gamers and e-athletes are creating careers out of their passion for gaming, ways to participate in the growth of this industry and more. Blake even shares a little about his past life as a professional gamer. To round out the conversation, we take it from the digital court to the NBA hardwood and discuss his beloved Lakers offseason signing of LeBron James and Lance Stephenson, along with Kobe Bryant. If you are new to or have children interested in gaming, this will be an eye-opening episode. I hope you enjoy! iTunes: All About Your Benjamins The Podcast Ep. 021 Show Notes: Twitter: @bmcstreet Twitter: @notyourdadsplan Warren Street Wealth Advisors Not Your Dad's Plan (coming soon) F45 Disclaimer: Nothing on this blog should be considered advice, or recommendations. If you have questions pertaining to your individual situation you should consult your financial advisor. For all of the disclaimers, please see my disclaimer page.

The Life + Liberty Index With Perth Tolle (020) Jul 27, 2018

Show notes

In America, we tend to take the economic and personal freedoms we have for granted; not all countries allow for basic human rights like property ownership, equal rights for women, banking rights, and more. In this episode, I am joined by Perth Tolle, the founder of Life and Liberty Indexes to discuss the index she has created which allows investors to invest in emerging market countries with human and economic freedoms. I had been following Perth for a while on Twitter, and I finally had the opportunity to meet her in person at the EBI West conference earlier this summer. After talking with her for a short time, I knew I had to have her on to share her story. The story behind Life and Liberty Indexes is fascinating, especially the story of Perth's time in Hong Kong and China and her friend, who was one of the many inspirations behind Perth's mission. In our conversation, we cover Perth's start in financial services as a financial advisor, how the idea of Life and Liberty Indexes came to her, why she decided to make the index a reality, the people who have been instrumental in her success, and her hopes for her company. Oh, and I think she may have committed to the March For The Fallen, what do you think? I always say this, and it's true...I had a great time talking with Perth, and you're going to be amazed by the work she is doing. I'll leave you with a simple quote from Perth that sums up the Life and Liberty Emerging Market Index, " Protection of individual freedoms is an effective indicator of economic growth and stability." I hope you enjoy! iTunes: All About Your Benjamins The Podcast Ep. 020 Show Notes: Twitter: @Perth_Tolle LinkedIn Life and Liberty Indexes Website Perth on Bloomberg Discussing Emerging Markets and Life and Liberty Indexes Alpha Architect March For The Fallen Disclaimer: Nothing on this blog should be considered advice, or recommendations. If you have questions pertaining to your individual situation you should consult your financial advisor. For all of the disclaimers, please see my disclaimer page.

Socially Responsible and ESG Investing with Joey Fishman (019) Jul 19, 2018

Show notes

Wouldn't it be great if your investment dollars were able to impact the way the world's largest companies conduct business? Thanks to Socially Responsible Investing (SRI), investors have the ability to invest in companies meeting a variety of different screens in an attempt to do just that. One of the most popular themes of SRI is ESG investing, which places an emphasis on rewarding companies with "good" environmental, social and corporate governance scores. ESG has caught the attention of large institutional investors, financial advisors, and to some extent, the average investor. In the nineteenth episode of All About Your Benjamins The Podcast, I'm joined by my friend, Joey Fishman, an Investment Advisor Representative with Ritholtz Wealth Management. I give Joey the credit for opening my eyes to Socially Responsible Investing and encouraging me to learn more about it, so it was a no-brainer that I have him on to introduce listeners to SRI, specifically ESG investing, share how his firm is bringing the investment strategy to their clients, discuss the problems SRI faces and share his view on the future of investing within the space. Even though I've spent many hours reading and learning about Socially Responsible Investing, I still learned a lot from my conversation with Joey. Before you listen, I'd like to leave you with one quote from Joey summarizing ESG investing's goal... "ESG falls under the broader mandate of Socially Responsible investing...what ESG essentially attempts to do is strikes the right balance between market-level returns and pushing to have some semblance of better output in terms of social values." I hope you enjoy! iTunes: All About Your Benjamins The Podcast Ep. 019 (coming soon) Show Notes Twitter: @JoeyFishman Ritholtz Wealth Management How Investors Can (And Can't) Create Social Value MSCI ESG Investing Sustainalytics John Hale on Medium Disclaimer: Nothing on this blog should be considered advice, or recommendations. If you have questions pertaining to your individual situation you should consult your financial advisor. For all of the disclaimers, please see my disclaimer page.

Project One Question-EBI West (018) Jun 29, 2018

Show notes

The eighteenth episode of All About Your Benjamins The Podcast is a special project I came up with shortly before heading to California for the Evidence-Based Investing Conference (EBI); this special project consisted of asking some of my friends from FinTwit (Finance Twitter), along with some of the individuals I look up to the most, one question and one question only. "What's the one thing about money you wish someone told you when you were younger?" Fair warning was issued via Twitter and I set out with my microphone in hand, well in my backpack, beginning the second day. The participation and responses I received far exceeded my expectations; so much so, I put my summary blog post on the back burner so I could edit the podcast and get it out A.S.A.P. I've compiled the various answers into a single episode; my hope is the wisdom shared on this podcast will impact at least one listener. A couple of observations regarding the answers: Some answers will overlap. Some answer will be the same, just worded differently. Some answers will conflict. I say "Awesome" way too much. The beauty behind these observations is they show just how individualized and personal money is; they also show how much fun this profession can be given the different points of view that can be used to help clients develop plans and improve their finances. There's no one right answer to this question, just as there is no one right way to structure a financial plan. As you listen to the podcast you will hear from individuals you probably know and from others you might be meeting for the first time. I can assure you everyone on this podcast is doing amazing work in the worlds of finance, financial planning or investing. These are the individuals blazing a new path for the future of financial services--check the links below, they're all legit. The episode is arranged in no particular order, with the exception of trying to end it with a bang. See below for the outline of names and the order. Finally, thank you to everyone who participated; I was beyond excited to speak with each of you, and I cannot express my gratitude enough for your willingness to help me out. If there's anything I can ever do to repay the favor, I'm publicly stating all you need to do is ask. I really hope you enjoy this one! iTunes: All About Your Benjamins The Podcast Episode 018 Participants (Click name to visit their Twitter pages): Read by Justin: Kyle Moore Jon Boorman Recorded Live: Joey Fishman Morgan Housel Ryan Kirlin Jack Vogel Kris Venne Dina Isola Blake Street Jonathan Novey Howard Lindzon Perth Tolle Peter Lazaroff Phil Huber Ian Rosen Blair duQuesnay Taylor Schulte Tony Isola Nick Maggiulli Christie Hamilton Bill Sweet Tadas Viskanta Carolyn Gowen Michael Batnick Barry Ritholtz Josh Brown Disclaimer: Nothing on this blog should be considered advice, or recommendations. If you have questions pertaining to your individual situation you should consult your financial advisor. For all of the disclaimers, please see my disclaimer page.

The Geometry Of Wealth With Brian Portnoy (017) Jun 19, 2018

Show notes

On the seventeenth episode of All About Your Benjamins The Podcast I'm joined by Brian Portnoy, Director of Investment Education for Virtus Investment Partners. In addition to his role with Virtus, Brian is also an esteemed author, and I asked him to join me to discuss his newest book, The Geometry Of Wealth. As you will hear me mention in the podcast, I think The Geometry Of Wealth should be required reading before beginning down the financial planning path. Understanding why humans view money they way we do is an important concept that can have a positive impact on a financial plan. Brian does an outstanding job of breaking this down and making it very easy to understand. While we cover a lot of ground in our conversation, we only touch on the tip of the iceberg; you will most certainly want to grab a copy of The Geometry Of Wealth to get the rest of Brian's expertise on the subject. Not only will you receive a great education by purchasing his book, but Brian is also donating 100% of the proceeds to various charities important to him and his family. You learn and others benefit financially---better grab a couple of copies to share the knowledge. I feel fortunate to have connected with Brian via Twitter and to have him take the time to join me for this episode. It was a great conversation and an even better book. I hope you enjoy! iTunes: All About Your Benjamins The Podcast Ep. 017 Show Notes The Geometry Of Wealth by Brian Portnoy The Investors Paradox by Brian Portnoy Twitter: @BrianPortnoy Disclaimer: Nothing on this blog should be considered advice, or recommendations. If you have questions pertaining to your individual situation you should consult your financial advisor. For all of the disclaimers, please see my disclaimer page.

Cryptoassets with Tyrone Ross, Jr.(016) Jun 11, 2018

Show notes

Disclaimer: Before you listen, please remember this conversation is for informational and educational purposes only. The cryptoassets discussed with Tyrone are not recommendations; it is imperative you consult a financial advisor to determine how and if cryptoassets fit into your overall financial plan. On the sixteenth episode of All About Your Benjamins The Podcast, I'm joined by Tyrone Ross Jr., a managing partner and financial advisor at NobleBridge Wealth. Tyrone is a true triple threat...financial advisor, cryptoasset expert and world-class athlete. Very few financial advisors are currently advising their clients on crypotassets and Blockchain, but Tyrone has positioned himself as one of the go-to financial advisor experts in the space. I've spent a substantial amount of time researching cryptoassets, but I'm still not to ready to begin incorporating them into my practice, which is why I asked Tyrone to join me for a conversation centered around how he discovered cryptoassets, when he began helping clients with them, and the future of the space. Be sure to check the show notes below because Tyrone provides a lot of great resources and I've linked to them all. And you already know we found time to talk about fitness...it's not every day I have an Olympic Trial qualifier on the show; be sure to check out his Instagram page for some crazy pull-up action, along with some great book recommendations. I really enjoyed my time with Tyrone, and I'm looking forward to staying in touch with him and having him back on as the world of cryptoassets continues to evolve. I think you're really going to dig this one! I hope you enjoy! Itunes: All About Your Benjamins the Podcast Ep. 016 (link available soon) Show Notes: Satoshi Whitepaper Cryptoassets by Chris Burniske and Jack Tatar All About Your Benjamins: Blockchain and Cryptocurrency Posts DailyBit Newsletter Token Daily Proof Of Work Twitter: @TR401 LinkedIn: Tyrone Ross Jr. Instagram: @Tyrun401 NobleBridge Wealth Disclaimer: Nothing on this blog should be considered advice, or recommendations. If you have questions pertaining to your individual situation you should consult your financial advisor. For all of the disclaimers, please see my disclaimer page.

Listener Questions (015) May 23, 2018

Show notes

On the fifteenth episode of All About Your Benjamins The Podcast you're stuck with just me! Before you decide to skip this episode, I'm answering some great questions from listeners, and I'm hoping to be able to do this periodically as more questions come in...send them to me at contact @ allaboutyour benjamins dot com or on Twitter, @Jus10Castelli. In the first listener Q & A episode, I'm answering questions about: Coffee and intermittent fasting One tip for someone finally making "real money" Three things young families should have to help put their finances in order How much life insurance someone needs Active vs. passive management Whether or not now is a good time to get into the markets How a pension might impact how aggressive an individual can invest As you can see, they are great questions and I really enjoyed working through them. Not only can you listen to me answer the questions, but you can also watch me as I record this episode on The All About Your Benjamins YouTube Channel. I hope you enjoy! iTunes: All About Your Benjamins The Podcast Ep. 015 YouTube: All About Your Benjamins The Podcast Live Ep. 015 (Be Sure To Subscribe!!) Show Notes: All About Your Benjamins The Podcast Ep. 013 Live Longer And Prosper With Tim Hays Of Dollars And Data: Success By Exhaustion Disclaimer: Nothing on this blog should be considered advice, or recommendations. If you have questions pertaining to your individual situation you should consult your financial advisor. For all of the disclaimers, please see my disclaimer page.

Behavioral Finance With Brendan Mullooly, CFP® (014) Apr 17, 2018

Show notes

On the fourteenth episode of All About Your Benjamins The Podcast I'm joined by my friend Brendan Mullooly, CFP® of Mullooly Asset Management. In one of my first podcast episodes, I mentioned one of my goals was to have other financial advisors that were early in their careers on before they become big names in the profession--Brendan, along with his brother Tim (a former podcast guest), fit the bill. In this episode, Brendan and I discuss an increasingly popular topic amongst financial advisors--behavioral finance. As our profession moves from a sales to providing actual advice and financial planning, financial advisors are focusing more on behavioral finance to have a better understanding of why individuals make the decisions they make with their money. Advisors need to provide more value than just asset management going forward and helping clients manage their behavior will be critical. As the client, it is important for you to understand why you may have struggled to stick to your financial plan in the past; understanding and being able to identify different biases we all struggle with is the first step in being able to overcome them, and Brendan and I discuss a number of different biases...you're sure to recognize at least one of them. Staying true to form, we end with a brief conversation about yoga, running and intermittent fasting. I enjoyed my conversation with Brendan and I'm looking forward to catching up with him later this year at the Evidence-Based Investing Conference in NYC. I hope you enjoy! iTunes: All About Your Benjamins The Podcast Ep. 014 Show Notes: Your Money and Your Brain by Jason Zweig Of Dollars and Data: The Echo Chamber CFA Institute: Understanding Behavioral Biases Course Twitter: @BrendanMullooly Mullooly Asset Management Website Disclaimer: Nothing on this blog should be considered advice, or recommendations. If you have questions pertaining to your individual situation you should consult your financial advisor. For all of the disclaimers, please see my disclaimer page.

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