The Stacking Benjamins Show

Latest Episodes:

Tax Day 2019 (Plus Parenting Beyond the Rules with Connie Albers) Apr 15, 2019

Show notes

Connie Albers joins us today to talk about communication. Specifically, we'll talk about communicating with teenagers, but if you've ever struggled to communicate with anyone, Connie will share great tips on how to build bridges. We'll talk about how to ask the tough questions and have difficult conversations. We'll discuss ways to better understand what's going on in the other person's life. Most of all, we'll discuss ways to be a good leader for your children or for the people around you.

If you're still struggling to finish your taxes, Katherine Pomerantz of The Bookkeeping Artist swoops in to save the day. Katherine will share some great tips for ways to possibly save some money on your taxes and also provide some guidance for people not prepared to finish today. How do you file an extension? What if you can't pay the tax due? And in our second headline, the amount of money Americans are paying on credit card interest is only going up this year... by A LOT.

And later on in the show we'll throw out the Haven Life line to some new parents. Sebastian and his wife had their baby last year, and they're trying to secure his college future. They have a few different plans in mind, but would like some help on choosing the best one.

Then, in our letters segment, Tom has recently started using savings apps. This all sounds well and good, but he also has $13,000 in debt. Should Tom forgo the savings until he has in debt under control?

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We Make $500k a Year and Struggle With Our Budget (plus the Retirement Budget Calculator) Apr 12, 2019

Show notes

Why is a couple making $500,000 a year feel like they're just getting by? Shouldn't they feel better off than most people? On today's roundtable we'll examine the budget of the couple who feel just "average" and discuss why lifestyle inflation can eat up more of our income than we expect. Joining us on today's show we welcome special guest Michael Anderson (from Maranantha.com), Paula Pant (from AffordAnything.com), and from our very own podcast, OG.

Halfway through the show we'll take a break for our weekly Friday Fintech segment, this week featuring something really cool that can help your retirement plan. Joe sits down with Jason Parker from Sound Retirement Planning, who shares the work he's done to create a calculator that will more likely help you set up realistic scenarios that you can use for your planning.

And during our Magnify Money Call, we'll answer a voicemail from Annie. Annie's on the track to be debt-free. She's already been investing into her retirement accounts, and she has a four month emergency fund saved up right now. Annie will complete her last goal after she pays off her car loan and ups her emergency fund to six months. What should be her next milestone?

As always, of course, we'll still save some time for Doug's trivia.

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The Genius of Living Like It's Groundhog Day (with Austin Kleon) Apr 10, 2019

Show notes

How do you keep going when every day seems like a repeat of the last? What do you do to stay focused when either you're always asked to jump higher or may even just perform the same tasks again and again? Why do we turn every great hobby into a marketing opportunity and kill it by calling it a new a "side hustle" idea? What's the value of gifting something? What tools do you use to build your dreams? Our guest today, Austin Kleon, helps us address all of these fundamental questions and more. As a New York Times Bestselling author and creator, Kleon brings the creative mind of an artist to the pragmatic business world and shares some truths that can help all of us attain more of the life we're fighting for.

Great news! There's some exciting new legislation working its way through Congress that could offer better retirement options in the future. As always, we've invited an expert to help us make sense of it all. Chris Spence is senior director of federal government relations for TIAA, and has a front row seat to all of the changes. He'll share highlights, concerns, and the big wins for many of us on today's show.

Also during our headlines segment, we'll discuss one recent news article suggesting that those staying out of the equity rally are really starting to feel its effects. In fact, people staying on the sidelines in cash just might make this year's rally last longer.

Later on, we'll throw out the Haven Life Line to Harvey. Harvey and his wife are closing on their dream home soon (congratulations!) and are wondering what they should do with their condo. They know they can more than cover its expenses if they rent it out, but selling the property will save them a ton of cash on their new loan, along with PMI payments. What should the couple do?

Plus, when we get to our letters segment, we'll tear open some mail from Kevin, who's wondering if you can "exchange" ETFs like you can mutual funds.

As always, we'll still save some time for Doug's trivia...which today is exceptionally epic.

Compare checking, savings, credit cards, and loans before switching. Magnify Money makes it super easy to compare, switch and save.

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How To Fire Your Financial Advisor Apr 08, 2019

Show notes

Ever wonder about firing your advisor? One woman wrote to Joe about firing her advisor, and we realized that's a question that many people have. How does the process work? Do you tell them? How do you move your money somewhere else? In their haste to get rid of an advisor, some people make big mistakes that end up costing them lots of money.

Today we're letting you be a fly on the wall. In place of our regularly featured interview, we'll let you listen in on the recorded conversation Joe had with an anonymous listener who's gotten fed up with her financial advisor. They'll discuss whether to sell assets, what records to keep, how to talk to the advisor, and what to look for in new/better help and brokerages.

Plus, in our headlines segment (couldn't get rid of that, could we?), the nation's biggest bond investor has dismissed the possibility of a stock market downturn in the near future. BUT, many in the financial media think the signs all point to stock market doom and the downturn is at our doorstep. So, who should we believe? Should our financial plan change regardless of what happens?

And later in the show, we'll throw out the Haven Life Line to Danielle. Her son, who has special needs, is getting his job. They are working toward him living independently and want to open an account for him at a brick-and-mortar bank where he'll have assistance if needed and easy access to his cash. Thoughts?

Then, in our letters segment, we'll cover a (totally) hypothetical question from Matt. Would it make much sense to have his kid forgo the traditional college experience and instead put all the savings into an investment account? It's all about time in the market, right?

Don't you worry, we'll cover it all and more (including Doug's trivia), on today's content-packed episode of Stacking Benjamins.

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What Retirement Terms Should You Know? (plus an intro to the Penge app) Apr 05, 2019

Show notes

Do you think you could pass a quiz covering basic questions about retirement? While you MIGHT be confident that you know the basics, a recent TD Ameritrade survey suggests that most Americans would actually fail a simple retirement quiz. To help us make sense of whether the terms listed on this quiz are actually meaningful we're helped on Joe's Dad's shortwave by Paula Pant (Afford Anything), Andy Hill (Marriage Kids and Money), and special guest Daniel Angelone (Innovative Planning Partners.)

Halfway through the show we'll take small break from the roundtable for our weekly Friday Fintech segment. Joe will talk to Brittany Joiner, creator of the social finance app, Penge. Different than many of our interviews, the Penge app isn't yet "a thing." How does a developer create the idea for a new app and bring it to life? Brittany is living that right now. We'll also tackle how she realized that being inclusive with your social circle about personal finance can change our attitudes towards money. We'll cover that and more during today's Fintech segment.

And during our Magnify Money Call, we'll answer a voicemail from Calvin, who's still getting adjusted to the world of personal finance. From what he's learned so far ETFs and mutual funds are the best way to invest. Is there anything else he should be doing with his money to diversify?

As always, of course, we'll still save some time for Doug's trivia.

Thanks to Away for supporting Stacking Benjamins. Go to awaytravel.com/sb20 and use the promo code sb20 to get $20 off a suitcase!

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One Woman's Shark Tank Journey (with Tanya VanCourt) Apr 03, 2019

Show notes

Ever wonder what it'd be like to square off against the sharks? Tanya VanCourt from Goalsetter.co just did that and we'll share the exciting story from start to finish on today's show. Whether you're a fan of Shark Tank, Goalsetter, FinTech, or just entrepreneurship in general, you're going to love our blow-by-blow telling of Tanya's Shark Tank adventure. She shares LOTS of strategic lessons for anyone hoping to be a business owner, networker, or strategist.

Plus, in our headlines segment, we'll talk to Peter Polson (CEO of Tiller) about Apple's new credit card offering, which was announced just last week. While it's been getting a lot of hype from the media, is the card worth it? We'll break down the features of the new card, perceived benefits from it, and how this offering stacks up against others.

Also, we'll dive into one piece from Barrons that could throw a big wrench in a few retirement plans. Are you counting on your primary residence to finance your retirement? We'll discuss why that may not be the best strategy for your golden years. The Barron's piece calls it a trap, but do we agree?

Later on, we'll throw out the Haven Life Line to Les, who owes extra tax this year due to his 1099 income. Les also receives a W2 from his employer. Could he request extra withholding from his employer to cover his self employment taxes? We'll round out the show with a letter from Nathan, who's hopping jobs. Both of his employers have a 457 plan, but his new job won't have a company match. What should he do with his 457? Roll it over? Leave it alone? Roll it to a different plan?

As always, we'll still save some time for Doug's trivia...which today is exceptionally epic.

Thanks to MetPro for supporting Stacking Benjamins! Get your complimentary Metabolic Profiling assessment and a 30-minute consultation with a MetPro expert at metpro.co/sb.

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Whose Priorities Are You Working On? (with Laura Vanderkam) Apr 01, 2019

Show notes

We aren't foolin' around on April Fools Day, because bestselling author, TED speaker, and top researcher of successful people Laura Vanderkam joins us. Laura and Joe tackle time management and priorities. When you have more tasks to do than time to do them in, how do you decide what to do first? What do you ignore? She'll share some simple to implement ideas that will help you conquer your inbox and more importantly, help you increase your attention to what matters. If you need more money, more time, or more life, this is the episode for you.

In our headlines segment we'll also talk to Mike Foy from JD Power and Associates about their annual survey on full service advisory firms. This year it appears clients may be ready to ditch their advisor unless they're able to add to the bottom line (especially in a couple crucial areas). What is your advisor doing/not doing? We'll address that on today's show.

Also in our headlines segment, Securities America has been hit by an $18 million lawsuit. With the company's now fired broker facing up to 25 years in prison after pleading guilty to running a Ponzi scheme, what lessons should we be taking from a family who's taken an $18 million hit loss since 2001?

Of course, that's not all. We'll also throw out the Haven Life line to to Royale. With her financial plans on track and savings going well, is there anything Royale and her family are missing from their plan? Of course, we'll still take time to answer a listener letter. Today we'll field one from Michael, who wants to know if there's a good strategy for investments when the market starts to cool off. , and talk about a certain project Mom's Neighbor Doug may or may not be working on.

All of that and more in another action-packed episode of the Stacking Benjamins Show!

Thanks to Away for supporting Stacking Benjamins. Go to awaytravel.com/sb20 and use the promo code sb20 to get $20 off a suitcase!

Thanks to MetPro for supporting Stacking Benjamins. Get a complimentary Metabolic Profiling assessment and a 30-minute consultation with a MetPro expert at metpro.co/sb.

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See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Outdated Money Advice You Should Probably Ditch (plus an intro to MetPro) Mar 29, 2019

Show notes

On today's show, we'll cover all the (once) great financial strategies that have floated around the financial community. What outdated rules-of-thumb are you holding? We'll talk about which financial rules you should probably chuck out the window, and which ones still hold some water in today's world. Joining us on today's roundtable is Sophia Bera (Gen Y Planning), Paula Pant (Afford Anything), and from our very own podcast, OG.

Halfway through the show we'll take small break for our Friday Fintech segment, which today we're renaming "Friday HealthTech." Joe and OG sit down with Angelo Poli, the founder of personal lifestyle and weight loss company, MetPro. How do you get yourself in shape? Buy health and sell bad habits.

And during our Magnify Money Call, our contributors will take a walk down memory lane to answer Rob's question. Rob's a high school teacher with the opportunity to pass on good financial knowledge to his senior class. He'd like some advice on what knowledge we would've wanted before we started our life journey.

As always, of course, we'll still save some time for Doug's trivia.

Thanks to Skillshare for supporting Stacking Benjamins. Get TWO months of courses for free at Skillshare.com/SB.

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Making the Millionaire Choice (with Tony Bradshaw) Mar 27, 2019

Show notes

Tony Bradshaw believes that we all can become millionaires. Growing up in a low income household, Tony learned the hard way how difficult it was to make and keep a dollar. But, using some of the strategies he talks about on today's show, he set a goal, made a plan, and then worked his plan to become a millionaire before he was forty years old. We'll talk about how you can make similar choices on today's podcast.

Plus, in our headlines segment, we're NOT talking about Millennials, but instead, the newest study focused on... Gen Z. If we had to put a label or two on this generation's approach to the workplace it would read something like this: fast promotions and BIG raises. We'll dig behind the numbers and find some takeaways that are more than meets the eye, with the CEO of the company that studied the commission, Bill Bennett, from Inside Out Development.

Later on we'll throw out the Haven Life Line to David, who has some "big" investor questions. What's the deal with being an accredited investor? The group has to be pulling in a nice income every year, or has a big net worth already behind them. Is there really a higher class of investor who have better investing options than everyone else? After we spend some time sorting out the answer for David we'll field a letter from Kyle, who wants needs some guidance on what to do with a bonus from work. Should Kyle lump sump into his 401k (which will max out his contributions for the year), or dollar cost average the cash into his account?

As always, we'll still save some time for Doug's trivia.

Thanks to LinkedIn for supporting Stacking Benjamins. Go to LinkedIn.com/sb and get a $50 credit toward your first job post.

Thanks to Skillshare for supporting Stacking Benjamins. Get TWO months of courses for free at Skillshare.com/SB.

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See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

How To Find and Profit From Your Money Story (with Jean Chatzky) Mar 25, 2019

Show notes

What's your money story? What the heck IS a money story? Jean Chatzky from Her Money (and the Today Show money editor) joins us to talk about her money story, why it's important, and how to use it to avoid making mistakes in the future and capitalize on your strengths. We'll also talk about maximizing social security, why many women don't consider themselves to be "investors," and judgement-free financial discussions.

Plus, in our headlines segment, we'll cover one new story that suggests there's a "alphabeticity bias" in 401k investing. What is alphabeticity bias? We'll not only define it, but probably make you groan when you hear how it's hurting people's performance in their retirement plans.

Later on we'll field some of your questions. First we'll throw out the Haven Life Line to Tim, who has a pension fund at work and an estimated monthly benefit. How does he calculate his net worth statement. Next, we'll open up a letter from Tyler, who has recently read that he shouldn't own small cap funds in a taxable brokerage account because of capital gains. Does he have a right to be concerned?

As always, we'll still save some time for Doug's (completely epic) trivia.

Thanks to LinkedIn for supporting Stacking Benjamins. Go to LinkedIn.com/sb and get a $50 credit toward your first job post.

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See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.