Explorez tous les épisodes du podcast Real Personal Finance
| Titre | Date | Durée | |
|---|---|---|---|
| Should I Rent or Should I Buy? | 05 Dec 2024 | 00:33:53 | |
To be a home owner or not to be a home owner, that is the question – and the answer is anything but simple! Tune in as we discuss when home ownership makes sense and when it may be better to rent. Ready to learn more? Money can be confusing—but it doesn’t have to be. When you’re able to understand the complexities, you can make better decisions to improve your daily life. Are you ready to align your money with your ideal life? Connect with us at Stone Steps Financial or Flow Financial Planning. | |||
| When Roth Conversions Make Sense (and When They Don’t) | 21 Nov 2024 | 00:27:39 | |
Roth conversions can be a great tool for minimizing your tax burden, but you don’t want to jump in blind. If you have a 401(k) and/or an IRA, you don’t want to miss this episode. Join us as we look at the what, when and why of Roth conversions. Ready to learn more? Money can be confusing—but it doesn’t have to be. When you’re able to understand the complexities, you can make better decisions to improve your daily life. Are you ready to align your money with your ideal life? Connect with us at Stone Steps Financial or Flow Financial Planning. | |||
| How to Stop Your Instincts and Biases From Ruining Your Portfolio Returns | 18 Jul 2024 | 00:20:46 | |
People say it’s just business, it’s not emotional, but that’s really not the case. In this episode of Real Personal Finance, Scott Frank, founder of Stone Steps Financial, and Meg Bartelt, founder of Flow Financial Planning, LLC, tackle the psychological minefield of investment decisions and uncover how recent trends, like the meteoric rise of big tech stocks, can warp your perspective. They delve into the cognitive biases, specifically recency bias, that often stand in the way of sound financial strategies and illustrate how structured systems can safeguard your portfolio against these mental pitfalls. Past performance, while tempting to rely on, is not a reliable predictor of future success. Learn how to use tolerance bands to maintain a balanced portfolio by adhering to timeless principles like "buy low, sell high." Ready to learn more? Money can be confusing—but it doesn’t have to be. When you’re able to understand the complexities, you can make better decisions to improve your daily life. Are you ready to align your money with your ideal life? Connect with us at Stone Steps Financial. | |||
| 112 - How Do I Incorporate Real Estate As Part of My Retirement Plan? | 11 Aug 2021 | 00:20:49 | |
Scott and James discuss how to incorporate real estate as part of your retirement plan. Planning Points Discussed
Timestamps: 1:30 - Introduction 3:22 - Costs of Real Estate 5:42 - Quantifying Your Real Estate Asset 8:30 - How To Determine If You Should Incorporate Real Estate 10:50 - What Are My Expenses With Real Estate? 13:14 - Alternative Real Estate Ownership Options 16:00 - What Are Your Goals Behind Owning Real Estate? 17:39 - Taxation of Real Estate 18:54 - Diversification Benefits 20:04 - Aligning Your Financial Goals
LET'S CONNECT! James Scott ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here | |||
| 111 - What's the Best Way to Invest My Portfolio In Retirement? | 04 Aug 2021 | 00:19:36 | |
Scott and James discuss the best way to invest your portfolio throughout retirement. Planning Points Discussed
Timestamps: 1:30 - Introduction 2:45 - Target-Date Funds 4:37 - Bucket Strategy v. Total Return 8:21 - What is a Sustainable Withdrawal Rate? 11:54 - Retirement Funds Aren't All Created Equal 14:36 - What Portfolio Mix Is Right For Me? 16:25 - Benefits of Owning Multiple Funds 17:51 - Aligning Your Life With Your Financial Goals
LET'S CONNECT! James Scott ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here | |||
| 110 - How Much Should Your Net Worth Increase Each Year? | 28 Jul 2021 | 00:19:01 | |
Scott and James discuss how to view your entire financial picture and how you can align it with your financial goals. Planning Points Discussed
Timestamps: 1:30 - Introduction 2:30 - Understanding Your Net Worth 6:45 - Stock Market Volatility 9:07 - What Metrics Should I Focus On? 11:18 - Should I Decrease My Net Worth Intentionally? 13:40 - Utilizing Debt 14:09 - Inputs v. Outputs 16:15 - Aligning Your Financial Goals
LET'S CONNECT! James Scott ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here | |||
| 109 - How to Prioritize Different Financial Strategies | 21 Jul 2021 | 00:22:44 | |
Scott and James discuss how to prioritize conflicting financial strategies. Planning Points Discussed
Timestamps: 1:30 - Introduction 3:02 - Asset Location v. Asset Allocation 5:38 - International Investments 8:21 - Taxation of Retirement Accounts 11:04 - Retirement Account Penalties 14:36 - Focusing On Your Goals 17:31 - Municipal Bond Taxation 20:06 - Importance of Your Time Horizon 21:24 - Aligning Your Financial Goals
LET'S CONNECT! James Scott ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here | |||
| 108 - Should I Add Real Estate To My Portfolio After I’ve Maxed Everything Else Out? | 14 Jul 2021 | 00:26:50 | |
Scott and James discuss how to invest after maxing everything else out. Planning Points Discussed
Timestamps: 1:30 - Introduction 3:52 - Investing In Real Estate 4:45 - How To Use Your Balance Sheet To Achieve Your Goals 8:30 - What Is A Great Rate of Return? 12:15 - What Is Passive Real Estate Investing? 14:30 - Aspects of Real Estate Investing 16:00 - Using Leverage For Real Estate 16:54 - What Are The Risks Of Investing In Real Estate? 20:44 - How To Invest Your Time, Energy & Talent 25:31 - Aligning Your Financial Goals
LET'S CONNECT! James Scott ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here | |||
| 107 - How to Plan When You Got a Late Start | 07 Jul 2021 | 00:22:43 | |
Scott and James discuss how how to plan for your goals when you got a late start. Planning Points Discussed
Timestamps: 1:30 - Listener Question 4:53 - Investing In The Market 6:20 - What Is My Time-Horizon? 7:20 - The Power of Consistent Saving 12:34 - Am I Too Old To Invest Aggressively? 15:35 - What Other Assets Can I Use To Retire? 19:00 - Retirement Expenses Example In Retirement 20:51 - Aligning Your Financial Goals
LET'S CONNECT! James Scott ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here | |||
| 106 - What Are Your Numbers? | 30 Jun 2021 | 00:17:57 | |
Scott and James discuss how to view your entire financial picture and how you can align it with your financial goals. Planning Points Discussed
Timestamps: 1:30 - Introduction 2:30 - Gross Income v. Net Income 5:49 - What Percentage Are You Saving? 7:10 - How To Save For Your Different Goals 9:07 - What Is My Saving Rate? 12:18 - Living vs. Spending 14:47 - How To View Your Taxes 16:54 - What Do I Need To Focus On? 18:55 - Aligning Your Financial Goals
LET'S CONNECT! James Scott ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here | |||
| 105 - What Do All the Different Indexes Mean? | 23 Jun 2021 | 00:22:09 | |
Scott and James discuss different indexes, both what they mean and why they're important to you as an investor. Planning Points Discussed
Timestamps: 1:30 - Listener Question 3:30 - What Makes Up The Global Market? 5:35 - What Does It Mean To Invest In "The Market"? 6:15 - How Is A Value Of A Company Determined? 10:11 - Russell 2000 vs. Russell 3000 - What's Different? 14:47 - How Do I Invest In The Developed Markets? 18:37 - What Are The Core Indexes? 19:55 - Aligning Your Financials With Your Goals
LET'S CONNECT! James Scott ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here | |||
| 104 - How Does This Political Climate Impact Our Investments? | 16 Jun 2021 | 00:20:20 | |
Scott and James discuss how this political climate impacts our investments. Planning Points Discussed
Timestamps: 1:30 - Listener Question 3:30 - How Should Politics Impact My Investment Strategy? 6:04 - Why Are We Investing? 8:35 - The Power of The S&P 500 12:18 - What Crises Tell Us About Investing 14:47 - What Is A Risk Premium? 16:54 - What Do I Need To Focus On? 18:55 - Aligning Your Financial Goals
LET'S CONNECT! James Scott ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here | |||
| 103 - Should I Save on Taxes Now Or In The Future? | 09 Jun 2021 | 00:23:58 | |
Scott and James discuss whether or not you should be saving on taxes now or in the future. Planning Points Discussed
Episodes Mentioned Episode 6: To Roth or Not to Roth? Timestamps: 1:30 - Listener Question 3:30 - Should I Invest In A Roth IRA? 5:45 - How Does A Traditional IRA Work? 7:36 - How Does A Roth IRA Work? 9:47 - How Should I Invest As Tax Brackets Change? 11:27 - How Do Tax Brackets Work? 16:55 - Will I Be In A Larger Tax Bracket In The Future? 21:25- Aligning Your Financial Goals
LET'S CONNECT! James Scott ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here | |||
| How to Build an Emergency Plan | 04 Jul 2024 | 00:24:52 | |
How prepared are you for a financial crisis when job security feels more fragile than ever? In today's episode, Scott Frank and Meg Bartelt break down the essential steps to creating a strong emergency plan able to withstand the tech industry’s volatile job market. Learn how to navigate financial instability with actionable strategies. In order to save money, people are often advised to cut small expenses, but that’s not enough. We discuss why that practice isn’t enough and how managing major costs can protect your financial future. We provide a clear, step-by-step guide to maintaining a balanced investment mix. Tune in for these essential tips to safeguard your financial future in uncertain times. Ready to learn more? Money can be confusing—but it doesn’t have to be. When you’re able to understand the complexities, you can make better decisions to improve your daily life. Are you ready to align your money with your ideal life? Connect with us at Stone Steps Financial. | |||
| 102 - Where Should You Save Your Extra Income? | 02 Jun 2021 | 00:17:28 | |
Scott and James discuss where you should save your extra income. Planning Points Discussed
Timestamps: 1:30 - Listener Question 3:30 - Where Should I Save Extra Income? 5:45 - Long-Term v. Short-Term Savings 8:05 - Education Funding 9:47 - How To Think About "Liquidity" 12:21 - Should I Invest In A SEP IRA or Roth IRA? 13:00 - Flexibility v. Tax Benefits 19:20 - Aligning Your Financial Goals
LET'S CONNECT! James Scott ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here | |||
| 101 - How to Balance Cash Savings and Long-Term Investing | 26 May 2021 | 00:27:15 | |
Scott and James discuss how to balance cash savings & long-term investing. Planning Points Discussed
Timestamps: 1:30 - Introduction 3:40 - How To Allocate To Different Goals 7:15 - Should I Invest For Short-Term Goals? 8:24 - Importance of Different Accounts 13:58 - Portfolio Diversification 19:32 - How Do I Maximize Returns? 25:06 - Understanding Why We Invest 26:15 - Aligning Your Finances With Your Life LET'S CONNECT! James Scott ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here | |||
| 100 - 100th Episode! Reflection on the first 100 Episodes | 19 May 2021 | 00:17:29 | |
Scott and James reflect on the first 100 episodes of the Real Personal Finance Podcast. Planning Points Discussed
Episodes Mentioned: Episode 83: 4 Things You Can Invest In Episode 16: Budgeting Sucks, Do This Instead Timestamps: 1:30 - Introduction 4:15 - The Magic of Compounding 5:45 - Which Episode Received The Most Downloads? 7:20 - Understanding Your Vision 9:14 - Where Do I Start With My Financial Journey? 12:02 - The Power of Automation 15:10 - How We Started The Podcast 15:45 - Thank You Listeners! LET'S CONNECT! James Scott ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here | |||
| 099 - How To Save For a Home in This Crazy Real Estate Market | 12 May 2021 | 00:21:14 | |
Scott and James discuss how to save for a home in this crazy real estate market. Planning Points Discussed
Timestamps: 1:30 - Listener Question 3:30 - Retirement Accounts 5:25 - Cost Basis Example 7:50 - Diversification of Investing 10:20 - Cash v. Bonds 13:00 - Diversification Benefits 15:10 - Understanding Costs of Home Ownership 17:50 - What Mortgage Can You Afford? 20:00 - Aligning Your Financial Goals LET'S CONNECT! James Scott ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here | |||
| 098 - Should I Move to Another State to Save Money and Retire Earlier? | 05 May 2021 | 00:15:57 | |
Scott and James discuss the pros and cons of moving to another state to save money in order to retire early. Planning Points Discussed
Timestamps: 1:30 - Listener Question 2:25 - Savings Rates 3:30 - Moving For Financial Reasons 7:00 - Longevity v. Financial Impacts (short-term) 9:50 - What Do You Really Want? 11:31 - Aligning Your Financial Goals 12:45 - Building Financial Habits 13:33 - Do A "Test-Run" 14:30 - Overview
LET'S CONNECT! James Scott ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here | |||
| 097 - How to Balance Debt Paydown, Savings, and Long-Term Investing | 28 Apr 2021 | 00:20:54 | |
Scott and James discuss how best to balance debt paydown, savings, and long-term investing. Planning Points Discussed
Episodes mentioned: Episode 72: Better Investor Series: Understanding Asset Allocation Episode 93: Should I Front Load Retirement Accounts When I'm Young? Timestamps: 2:30 - Listener Question 3:41 - Managing Debt 6:20 - How To Pay Off Debt 8:22 - Investing For Your Goals 9:24 - Why Credit Matters 11:54 - The Ups & Downs of the Stock Market 13:42 - What's Your Time Horizon? 15:53 - What's Your Risk Tolerance? 16:15 - Saving For Your Goals 18:54 - Overview LET'S CONNECT! James Scott ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here | |||
| 096 - Should I Give My 4 Year Old a Credit Card? | 21 Apr 2021 | 00:17:57 | |
Scott and James discuss whether or not you should give your 4 year old a credit card. Planning Points Discussed
Timestamps: 1:30 - Listener Question 3:05 - Determining Your Credit Score 6:20 - Credit Utilization 7:00 - 10 years vs. 34 years of Saving 9:24 - Why Credit Matters 11:11 - How To Teach Kids About Money 12:45 - Building Financial Habits 13:00 - Using "FamZoo" - Preparing Kids For Finances 15:10 - Aligning Your Financial Goals 16:30 - Overview
LET'S CONNECT! James Scott ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here | |||
| 095 - What To Do When You Have "Too Much Cash" | 14 Apr 2021 | 00:17:50 | |
Scott and James discuss what to do when you have "too much cash". Planning Points Discussed
Timestamps: 1:30 - Celebration of 100,000 downloads 3:30 - Rationality of Investing 5:45 - What's The Right Solution For You? 7:50 - Determining Your Emergency fund 9:33 - When Is Cash "Too Much Cash"? 12:24 - Assigning Ideas To Your Cash 14:00 - How Would I Feel If My Mortgage Was Paid Off? 15:43 - Aligning Your Finances With Your Life
LET'S CONNECT! James Scott ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here | |||
| 094 - When Should People Hire a Financial Planner? | 07 Apr 2021 | 00:27:13 | |
Scott and James discuss when it's best for people to consider hiring a financial planner. Planning Points Discussed
Episodes Mentioned Episode 56: What Is The Value Of Working With A Financial Planner? Episode 57: What Questions Should I Ask When Hiring A Financial Planner? Timestamps: 2:00 - Why Hire A Financial Planner? 6:00 - How Advisors Are Different 9:30 - Tax Planning 13:11 - Emotional Thinking 15:23 - What Is Your Financial Strategy? 19:16 - Not Everyone Needs A Financial Planner 22:35 - Peace of Mind 24:32 - Finding The Right Planner For You 25:10 - Overview
LET'S CONNECT! James Scott ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here | |||
| 093 - Should I Front Load Retirement Accounts When I'm Young? | 31 Mar 2021 | 00:16:51 | |
Scott and James discuss whether or not you should front load retirement accounts while you're young. Planning Points Discussed
Timestamps: 1:30 - Listener Question 3:30 - Retirement Accounts 5:45 - Front-Loading Retirement Accounts 7:00 - 10 years vs. 34 years of Saving 10:10 - Non-Financial Compounding 12:05 - Aligning Your Financial Goals 13:00 - Overview of Opportunity Costs 15:10 - Understanding Your Expenses
LET'S CONNECT! James Scott ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here | |||
| How Can You Plan For An Uncertain Future? | 20 Jun 2024 | 00:22:01 | |
How do you secure your retirement against an uncertain future? In this episode of “Real Personal Finance,” Scott Frank, founder of Stone Steps Financial, and Meg Bartelt, founder of Flow Financial Planning, LLC, explore strategies to predict future expenses and ensure financial readiness, even if retirement is decades away. They address a listener question about preparing 26 years ahead, covering how to assess current expenses and plan for changing costs like mortgages. Estimating future medical expenses is crucial yet challenging, but informed planning brings peace of mind. Our discussion extends to the importance of ongoing financial reassessment, considering life's unexpected events—such as starting a business or caregiving—that impact your finances. Regularly reviewing and adjusting financial plans is key to staying on course. Join the conversation, submit questions, and engage with our community for insights that strengthen financial resilience and align with long-term goals. Ready to learn more? Money can be confusing—but it doesn’t have to be. When you’re able to understand the complexities, you can make better decisions to improve your daily life. Are you ready to align your money with your ideal life? Connect with us at Stone Steps Financial. | |||
| 092 - [Guest Interview] Can I use income earned overseas to fund US Retirement Accounts? | 24 Mar 2021 | 00:18:55 | |
Listener Question: I'm a US citizen living abroad. I started listening to your podcast when I hit 30. Alas, it was time to get my ducks in a row. I've followed your advice to open an IRA and a few online CDs, I appreciate the gentle mindset shift your podcast has on me. Recently, when I told a friend I planned to contribute to my IRA, he warned me not to do that. He warned that if I contributed to my IRA with income earned and taxed overseas - income protected from double taxation by the foreign earned income exemption, then I would have to pay US taxes on my full income earned and taxed aboard. Can income earned and taxed overseas not be contributed to an IRA without trigger full overseas income taxation? If yes, what tax-advantaged options does a US citizen have for income earned overseas? Guest Interviewer Connect with Ashley Murphy, CFP®, AIF® Global Financial Planning Institute Planning Points Discussed
Timestamps: 2:30 - Introduction & Listener Question 4:30 - IRA vs. Roth IRA Benefits 7:00 - Retirement Planning For Your Country 9:47 - Citizen-Based Taxation 11:25 - Foreign Earned Income Exemption 12:12 - Taxation Dependent on Type of Income 13:00 - Real Estate Income v. Portfolio Income 14:17 - Tax Implications of Dual-Citizenship 15:30 - Overview
LET'S CONNECT! James Scott ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here | |||
| 091 - [Guest Interview] How to Invest for Retirement If You Might Not Retire in the US | 17 Mar 2021 | 00:30:28 | |
Listener Question How do immigrants should strategize investing when there is a real possibility of going back to home country because of work visa denial? Should we continue to invest in the states or invest offshore where we would retire? Thank you. I have been living in the United States for 11 plus years now. Because I am an immigrant, I did not invest in 401k until 2015. But again, I was just contributing 6% to get employer match. I started my financial independence journey a year back. I maxed my 401k, contributed to Roth IRA. Thank you for the wonderful podcast to inspire millions of listeners. Guest Interview Connect with Ashley Murphy, CFP®, AIF® Global Financial Planning Institute Planning Points Discussed
Timestamps: 2:00 - Introduction to Guest Interview 5:30 - International v. Cross-Border Financial Planning 8:27 - Every Country is Different 7:00 - Why the 4% Withdrawal Rule is Conservative 8:00 - When Can I Ensure I Can Retire? 12:30 - Tax Implications 13:00 - Foreign Tax Credits 17:37 - Roth IRAs for Dual Citizens 22:00 - How to Avoid Pitfalls 22:51 - PFIC (Passive Foreign Investment Company) 28:30 - Overview
LET'S CONNECT! James Scott | |||
| 090 - How Do I Determine Taxes Owed on RSUs and ESPPs? | 10 Mar 2021 | 00:22:34 | |
In this episode James and Scott discuss how to determine taxes owed on RSUs and ESPPs. Questions discussed: What are the tax implications of my stock options? When is the best time to exercise my options? How do I maximize my options? What is the best approach for my individual situation? Planning Points Discussed
Timestamps: 2:30 - RSUs & ESPPs 3:25 - Vesting Period 5:32 - How Best To Navigate Stock Options 7:02 - "Sell to Cover" 10:20 - How To Minimize Risk 13:25 - Tax Arbitrage With Stock Options 17:15 - Tax Implications 19:33 - Aligning Goals with Your Finances
LET'S CONNECT! James Scott ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here | |||
| 089 - Is it Possible to Overfund Retirement? | 03 Mar 2021 | 00:19:22 | |
In this episode James and Scott discuss whether or not it's possible to overfund retirement, and what you can do to avoid doing so. Questions discussed: How much is enough when it comes to funding for retirement? When can I stop funding for retirement? What is the best approach for my individual situation? Planning Points Discussed
Timestamps: 2:30 - Listener Question 4:00 - Should I Max Out My Retirement Accounts? 6:13 - How Much Is Too Much For Retirement? 7:30 - Historical Performance: Lump-Sum vs. Dollar-Cost Averaging 10:20 - Importance of Balance Sheet 13:25 - How To Use RMDs In Retirement 15:25 - Aligning Goals with Your Finances
LET'S CONNECT! James Scott ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here | |||
| 088 - Is an MBA Worth it? And How to Prepare Financially? | 24 Feb 2021 | 00:14:11 | |
In this episode James and Scott discuss whether or not an MBA is worth it and how best to prepare financially. Questions discussed: Is an MBA worth it? What's the best way to prepare financially for an MBA? What are the benefits of an MBA? What do I want my MBA to do for me? Planning Points Discussed
Timestamps: 2:30 - Listener Question 4:02 - Investing In Personal Education 5:00 - Is an MBA a Worthy Investment? 6:20 - Investing To Pay For an MBA 8:04 - How To View Student Loans 9:35 - How Much Debt Is Too Much Debt? 11:00 - Finding Your "MBA" Mentor 12:30 - Aligning Your Money With Your Life
LET'S CONNECT! James Scott ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here | |||
| 087 - Investing a Lump Sum vs Dollar Cost Averaging - Which is Better? | 17 Feb 2021 | 00:16:34 | |
In this episode James and Scott discuss whether or not you should invest all at once (lump-sum) or invest smaller amounts over a period of time (dollar-cost average). Questions discussed: Should I invest when the market is at all-time highs? When is the best time to invest? What is the best approach for my individual situation? Articles Mentioned: Article Reference- Dollar-Cost Averaging vs. Lump-Sum (Of Dollars & Data) Planning Points Discussed
Timestamps: 2:30 - Lump Sum v. Dollar-Cost Averaging 3:25 - What is Lump-Sum Investing? 5:32 - Can You Time The Market? 7:30 - Historical Performance: Lump-Sum vs. Dollar-Cost Averaging 10:20 - How To Minimize Risk 13:25 - What's Your Dollar-Cost Average "Policy"? 15:20 - Aligning Goals with Your Finances
LET'S CONNECT! James Scott ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here | |||
| 086 - Should I Apply Extra Cash to a Mortgage Refinance or Invest It? | 10 Feb 2021 | 00:18:31 | |
In this episode James and Scott discuss whether or not you should apply extra cash to paying down the mortgage. Questions discussed: What should I do with extra cash? Should I apply extra cash to my mortgage or should I invest the cash? Is paying down the principal of my mortgage the most wise use of extra cash? How does paying down my mortgage impact my overall financial situation? Planning Points Discussed
Timestamps: 2:30 - Listener Question 4:12 - Pay Down Mortgage or Invest? 6:21 - When Should I Refinance? 8:30 - Backdoor Roth Contributions 12:20 - How To Maximize 401(k)s 15:50 - Aligning Your Money With Your Life
LET'S CONNECT! James Scott ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here | |||
| 085 - GameStop, AMC & More - How to Think About Hot Stocks as an Investor | 03 Feb 2021 | 00:20:41 | |
In this episode James and Scott discuss Gamestop Stock, AMC, Reddit, Hedge Funds, and how to think about "hot" stocks as an investor. Questions discussed: Should I invest in GameStop, AMC, etc.? When do I know it's best to buy or sell? What does the halt of trading in Robinhood mean for the financial services industry? How much of my portfolio should I allocate to investing in individual stocks? Planning Points Discussed
Timestamps: 1:30 - Investing vs. Speculation 4:12 - Wealth Accumulation: Short-Term & Long-Term 6:21 - Maximizing Wealth 8:30 - Gambling or Informed Investing: What's the Difference? 12:49 - How Likely Is One Company To Go Out Of Business? 15:50 - Aligning Your Money With Your Life 17:20 - How Investing Has Changed
LET'S CONNECT! James Scott ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here | |||
| 084 - How Should You Know When to Use a Roth IRA vs Traditional IRA? | 27 Jan 2021 | 00:20:09 | |
In this episode James and Scott discuss the difference between a Traditional IRA & Roth IRA and which may be ideal for you based on your individual situation. Questions discussed: Are you hoping to lower your taxable income today? Do you think your income will rise over the course of your lifetime? When does it make most sense to use a Roth IRA vs. Traditional IRA? How should I invest in my Roth IRA or Traditional IRA? Planning Points Discussed
Timestamps: 2:30 - Listener Question 4:35 - Pre-tax vs. Post-tax Contributions 7:51 - IRA vs. Roth IRA Tax Implications 9:30 - Having an Accountability Partner 10:11 - 401(k) vs. Roth 401(k) 15:50 - Aligning Your Money With Your Life
LET'S CONNECT! James Scott ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here | |||
| 083 - 4 Things You Can Invest In | 20 Jan 2021 | 00:20:13 | |
Scott and James discuss 4 things you can do to invest in your personal and financial growth and outline the steps involved to reach them. Planning Points Discussed
Timestamps: 3:35 - Investing: Time Horizon 5:54 - Timeblocking 8:30 - Time & Financial Journey 11:41 - Investing In Yourself 15:00 - Personal & Financial Goals 17:47 - Aligning Your Financial Goals 18:00 - What Is Essential To You?
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| Is Giving to a Donor-Advised Fund Worth It? | 06 Jun 2024 | 00:28:26 | |
Rethink your charitable giving and maximize your tax benefits with Donor-Advised Funds. Discover how this streamlined and tax-efficient alternative to traditional donation methods might just be a game-changer to your financial strategy. Scott and Meg contrast DAFs with conventional giving methods like checks and credit cards, to paint a clearer picture of their advantages. They also address common myths surrounding DAFs, especially the idea that they're only a tool for tax avoidance. Learn from real-life examples about when a DAF is the best choice and why genuine charitable intent is crucial to take advantage of its full potential. DAFs allow you to separate the tax event from the actual act of giving. This can be particularly beneficial during high-income years, letting you maximize your tax benefits while taking the time to thoughtfully select the right charities. Scott and Meg also tackle the concept of "bunching" donations for optimal itemized deductions and discuss how DAFs can facilitate family involvement in your philanthropy, turning giving into a shared family mission. Tune in to discover how integrating DAFs into your financial planning can lead to both personal fulfillment and community support. Ready to learn more? Money can be confusing—but it doesn’t have to be. When you’re able to understand the complexities, you can make better decisions to improve your daily life. Are you ready to align your money with your ideal life? Connect with us at Stone Steps Financial. | |||
| 082 - What is a Sustainable Withdrawal Rate? | 13 Jan 2021 | 00:22:30 | |
What is a sustainable withdrawal rate in retirement? To put it in simple terms, it depends. Today we explain where the 4% withdrawal rate comes from and how it may apply to you and your ability to retire without worry. From new investors to those more well-seasoned, we discuss which factors you should consider when deciding what withdrawal rate will ensure you have a comfortable retirement. Planning Points Discussed
Timestamps: 2:00 - Overview of Withdraw Rates 2:30 - What is the 4% Withdrawal Rate? 4:00 - Success Rates of Retirement 7:00 - Why the 4% Withdrawal Rule is Conservative 8:00 - When Can I Ensure I Can Retire? 11:21 - Capital Preservation Rule 14:45 - What Is A Sustainable Growth Rate For Me? 20:10 - The Mix of Growth & Income Assets In Retirement
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| 081 - What Should I Do When I Receive a Windfall? | 06 Jan 2021 | 00:14:37 | |
In this episode of the podcast, we have a listener question: I am about to come into a decent sum of money from selling a rental property. I’m 30 years old, invest 22 percent into my 401k (that has a balance of 45k currently). My plan was to invest this money in a total market index fund and an international index fund. Is this my best option? I also have a house that I owe about 215k on. Thank you in advance! Planning Points Discussed
Timestamps: 1:00 - Shoutout to the Listener Question 5:00 - When Should I Start Investing After Receiving A Large Sum? 6:20 - When Does A 1031 Exchange Make Most Sense? 7:35 - Where To Start When Making An Investment Plan? 8:18 - Refinancing Your Home & Interest Rates 12:05 - Having An Emergency Plan LET'S CONNECT! James Scott ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here | |||
| 080 - What Tax Investment Strategies Should I Be Aware of When Selling Stock Options | 30 Dec 2020 | 00:25:37 | |
In this episode of the podcast, we have a listener question: Just heard your podcast on the target date funds and really appreciate the insight as I'd just rebalanced my 401k and pulled out of them because of the fees and my level of attention to my portfolio. From a financial management perspective, I'm a DIY-er with a blend of Boglehead and FIRE, philosophically. Currently 1/3 of my wealth is concentrated in RSU/stock options from my company as part of my annual compensation package. Is there a tax strategy in regard to timing and/or amount to sell my options to ease the tax burden?What are some options that would make sense to reallocate the funds from the sales? My wife has an annuity in her 403b, which I've heard/read is not a great idea, so can you explain under what circumstances an annuity is or isn't a good option? Planning Points Discussed
Timestamps: 3:45 - Restricted Stock Units 4:19 - Tax Planning of Stock Options 10:00 - Vesting of RSU 16:06 - Deciding When Best To Sell For Your Goals 20:15 - Why Should I Invest In An Annuity?
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| 079 - 4 Steps to Implementing Change | 23 Dec 2020 | 00:14:27 | |
In this episode James and Scott discuss their thoughts on how they implement change in both their personal and financial lives. It’s well known that just because something is simple doesn’t mean it will be easy. There are four questions to ask yourself when it comes to achieving your goals, both personally and financially. 1) What can you do? 2) How will you do it? 3) When will you do it? 4) Who can hold you accountable along the way? Planning Points Discussed
Timestamps: 2:45 - Simple Doesn’t Equal Easy 6:15 - Avoiding Barriers 7:30 - Examples of Implementing Change 9:30 - Having an Accountability Partner 12:20 - Advisors Have Financial Advisors 12:50 - Aligning Your Money With Your Life
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| 078 - How Should You Diversify the Bond Part of Your Portfolio? | 16 Dec 2020 | 00:21:57 | |
In this podcast episode, we have a listener question: Since interest rates are so low and the bond market is so much bigger than the equity market, what are a good mix of bonds for a portfolio with a lot of bonds? Should it only be high quality corporate or should it be some TIPS, CMO, or anything else? There are a lot of options for bonds. Planning Points Discussed
Timestamps: 2:05 - What types of bonds should I invest in? 2:30 - What is a bond? 4:30 - Mortgage Terms (30 year, 20 year, 15 year) 8:30 - Qualified Tax Treatment 9:43 - Bond Yields 12:30 - Where do I start when trying to figure out what’s right for me? 15:30 - The Purpose of Holding Bonds in a Portfolio 20:00 - The Danger of Yield Chasing
LET'S CONNECT! James Scott ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here | |||
| 077 - Learn How "Asset Location" Can Lower Your Tax Bill | 09 Dec 2020 | 00:18:29 | |
In this podcast episode, we have a listener question: I just recently found your podcast when I was looking for some info on mega-backdoor roths. Thanks for all the info, you guys really are a wealth of knowledge. In an older episode, where you guys were talking about asset locations, one of you mentioned that if you have dividend-paying stocks, you should hold them in a retirement account, so you don't get messed up with paying taxes on the dividends. I have been of the understanding that investment dividends are taxed at long-term capital gains rates, so for MFJ, you would need to make over $80,000 in dividend income before you pay any taxes in 2020. If this is the case, and your dividend stock or fund paid 2% per year, you would have to hold $4,000,000 to reach that first 15% threshold. In this case, taxable accounts seem like a great place to hold dividend-paying stocks. Am I misunderstanding something about this? Planning Points Discussed:
Key Points:
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| 076 - Financial Planning Issues to Consider Before Year-End | 02 Dec 2020 | 00:26:41 | |
In this week’s episode of Real Personal Finance, James and Scott discuss end of year tax planning. As the year comes to an end, we want to make sure your income and investments are in order. Whether you had a year of financial gain or financial loss we help you use that to your advantage, no matter your tax bracket.
Time Stamps: 00:28 - Year-end tax planning 01:00 - Core concepts to focus on for EOY planning 01:44 - Harvesting gains or losses in your portfolio 04:30 - Tax gain harvesting 06:55 - Planning for future higher income and how it impacts your tax bracket 08:13 – Planning for future lower income 10:00 - Charitable donation changes with the passage of the CARES Act 13:45 - Tax planning with stock compensation 15:14 - Cash flow 18:34 - 529 plans 19:41 - HSA vs. FSA 22:17 - Estate planning 23:13 - Roth conversions 25:04 - Conclusion
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| 075 - What's the Best Way to Fund Large Purchases in Retirement? | 25 Nov 2020 | 00:18:55 | |
In this podcast episode, we have a listener question: Husband/wife (70/69) both retired intending to down size. Debt free. Retirement assets are 1.7 mil (1.3 mil traditional ira/400 k Roth IRA). Monthly income before taxes (social security and pensions) is $7500. New home cost estimated at $400 k. Existing home to be sold after building new home expected to sell for $150 k. So, how do we pay for new home: cash or finance? If cash: use traditional ira or Roth? If finance: how much? Thanks. Look forward to your reply. Planning Points Discussed
LET'S CONNECT! James Scott ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here | |||
| 074 - Should You Invest in Bitcoin? | 18 Nov 2020 | 00:23:00 | |
In this episode James and Scott discuss their thoughts on Bitcoin and whether or not it belongs in your investment portfolio. They discuss:
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| 073 - Better Investor Series: How to Tilt Your Portfolio to Increase Your Odds of Success | 11 Nov 2020 | 00:20:53 | |
In the third episode of the Better Investor Series James and Scott discuss ways you invest your portfolio for better potential long-term growth. Listen in as they discuss what parts of the stock market have historically demonstrated higher returns than others. Timestamps [2:35] Different types of stocks and bonds - which do you tilt toward? [3:12] Market overview the end of 2019 - the United States stock market represented 54% of the global stock market. [5:40] Pros and cons of diversification. [9:40] The uncommon average in investing. How do "average" returns compare to what you can actually expect? [17:01] How to use time to increase your odds of success. [19:50] There is no silver bullet solution - focus on what you can control. LET'S CONNECT! James Scott ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here | |||
| Should I Invest in My Health Savings Account? | 23 May 2024 | 00:27:16 | |
Are you using your Health Savings Account to its full potential? HSAs are great for covering immediate healthcare costs, but with careful planning, they can also become a strategic part of your long-term wealth plan. This week, Scott Frank, founder of Stone Steps Financial, and Meg Bartelt, founder of Flow Financial Planning, LLC, take on HSAs, sharing the ins and outs of eligibility, their triple tax benefits, and how it can become a vital nest egg for end-of-life care later on. HSAs were created to help offset the cost of healthcare, so start letting your account do the work! Scott and Meg’s insights help clear the confusion around HSAs, giving listeners actionable advice to help them decide on future plans. Let’s face it—the world won’t get any cheaper. Investing in an HSA is an opportunity to protect your financial future. Ready to learn more? Money can be confusing—but it doesn’t have to be. When you’re able to understand the complexities, you can make better decisions to improve your daily life. Are you ready to align your money with your ideal life? Connect with us at Stone Steps Financial. | |||
| 072 - Better Investor Series: Understanding Asset Allocation | 04 Nov 2020 | 00:29:21 | |
In this episode, we dive deeper into three ways on how you should think about framing asset allocation; your ability to take risks, your willingness to take risks, and your need to take risks. Listen in to learn the fundamentals that should drive your investment decisions. Timestamps:
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| 071 - Better Investor Series: 10 Steps to Investment Success | 28 Oct 2020 | 00:26:07 | |
In this episode, we explain the principles you need to understand and apply for your investment success. They are simple principles but not always obvious. It is important to understand these frameworks based on economic research to improve your chances of investment success. Timestamps:
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| 070 - How Should You Invest in an Election Year? | 21 Oct 2020 | 00:15:48 | |
We are in the election year and you’re probably wondering whether you should make changes to your portfolio, right? In this episode, we talk about election years and how they affect the market and your investment choices. Timestamps:
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