Is Couponing Worth it, Using Your Old Student ID for Discounts, Weirdest Way You’ve Made Money, and More | E155 Joel Larsgaard, Jackie Cummings Koski, Justin Brown Woods

The Struggle is Real: Making Financial Independence Feel Achievable and Fun

#Careers #Business #Justin Lee Peters #Trading #Podcasting Education #Im On

43:56

On August 20th, 1989, Lyle and Erik Menendez shot and killed their own parents. Until then, this Beverly Hills family had been a portrait of the American Dream. How did it go so wrong? To listen to all four episodes of 'The Menendez Brothers' right now and ad-free, go to IntoHistory.com . Subscribers enjoy uninterrupted listening, early releases, bonus content and more, only available at IntoHistory.com . If you or someone you know is in crisis, there is free help available at mhanational.org Learn more about your ad choices. Visit megaphone.fm/adchoices…

год назад 54:14

MP3•Главная эпизода

Okay, this episode was so much fun to create. This is outside my normal format but equally as informative and probably more entertaining.

In October, I attended FinCon, a conference for personal finance content creators. I know it is super nerdy of me but here you are listening to a personal finance podcast so you have no room to judge me.

This was my fourth time attending and my favorite part is all the friends I’ve made over the years. So like when any group of friends get together, we had to play a game. The only difference is since we are a bunch of podcasters, it also had to be recorded.

So in today’s episode, you are going to hear me and 3 friends play my version of Money Jeopardy. My three friends are Joel Larsgaard from How to Money, Jackie Cummings Koski from Catching Up to FI, and Justin Brown Woods from Price of Avocado Toast. These contestants will be choosing questions from 4 categories:

Binge or Cringe - are you in or out on this personal finance topic
History of Money - a tough money-related trivia question
Frugal or Cheap - are you being a good steward of your money or just a cheapo
Fill in the blank - complete this statement

You will chuckle and laugh throughout this whole conversation but you’ll also pick up tips and tricks along the way. Joel, Jackie, and Justin really crushed it. I’ve been thinking about adding some segments to the show that incorporate questions like this episode, send me an email at justin@simplepodstudios.com.

So kick back and get ready to have some fun. I hope you enjoy my conversation with Team J and fellow money nerds…Joel Larsgaard, Jackie Cummings Koski, and Justin Brown Woods.

More of Guests:

How to Money (Joel Larsgaard): https://www.howtomoney.com/

Catching Up to FI (Jackie Cummings Koski): https://catchinguptofi.com/financial-independence-podcast/

Price of Avocado Toast: https://www.priceofavocadotoast.com/podcast

More of The Struggle is Real:

Find show notes and more at https://www.tsirpodcast.com/

Connect with Justin on LinkedIn: https://www.linkedin.com/in/justinleepeters/

162 эпизодов

The Struggle is Real: Making Financial Independence Feel Achievable and Fun

Is Couponing Worth it, Using Your Old Student ID for Discounts, Weirdest Way You’ve Made Money, and More | E155 Joel Larsgaard, Jackie Cummings Koski, Justin Brown Woods

The Struggle is Real: Making Financial Independence Feel Achievable and Fun

published год назад

MP3•Главная эпизода

Okay, this episode was so much fun to create. This is outside my normal format but equally as informative and probably more entertaining.

Binge or Cringe - are you in or out on this personal finance topic
History of Money - a tough money-related trivia question
Frugal or Cheap - are you being a good steward of your money or just a cheapo
Fill in the blank - complete this statement

So kick back and get ready to have some fun. I hope you enjoy my conversation with Team J and fellow money nerds…Joel Larsgaard, Jackie Cummings Koski, and Justin Brown Woods.

More of Guests:

How to Money (Joel Larsgaard): https://www.howtomoney.com/

Catching Up to FI (Jackie Cummings Koski): https://catchinguptofi.com/financial-independence-podcast/

Price of Avocado Toast: https://www.priceofavocadotoast.com/podcast

More of The Struggle is Real:

Find show notes and more at https://www.tsirpodcast.com/

Connect with Justin on LinkedIn: https://www.linkedin.com/in/justinleepeters/

162 эпизодов

#Careers #Business #Justin Lee Peters #Trading #Podcasting Education #Im On

All episodes

1
Do You Know You Can Negotiate Your Medical Bills? Here’s how. | E161 Dr. Virgie Bright Ellington 37:34

12 дней назад37:34

37:34

In today’s conversation, we will learn how to negotiate your medical bills. Wait, you can do that? Yeah, this was new to me too. Maybe it was the confusing medical jargon or the assumption that hospitals charge fair prices, but negotiating never crossed my mind…and you know I love to negotiate just about everything. Not only should you be negotiating your medical bills, you should be scrutinizing them for errors. As you’ll learn in this episode, 80% of medical bills have errors, and go figure, they almost always work out in the favor of the medical provider. Today, Dr. Virgie Bright Ellington joins me to share her three-step process for negotiating medical bills. As an internal medicine physician and former health insurance executive, Dr. Virgie thought she understood the system - that was until she was diagnosed with cancer and saw firsthand how patients get crushed by medical debt. After witnessing her hospital roommate get taken advantage of by balance billing, Dr. Virigie had had enough. Now she is on a mission to help Americans fight back against excessive healthcare costs, one bill at a time. If you want to protect yourself from medical debt and take control of your healthcare costs, this episode is for you. I hope you enjoy my conversation with medical billing expert and 2-time cancer patient…Dr. Virgie Bright Ellington. Key Takeaways: The devastating impact of medical debt on Americans How to identify errors on your medical bills Why the first bill from your provider isn’t the final bill How to research fair pricing for medical services A step-by-step script for negotiating lower costs with your provider’s billing department More of Dr. Vrigie: Website: www.crushmedicaldebt.com More of The Struggle is Real: Find show notes and more at https://www.tsirpodcast.com/ Connect with Justin on LinkedIn: https://www.linkedin.com/in/justinleepeters/…

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Spending Experiments: Learn What Purchases Make You Happy | E160 Carl Jensen 55:52

26 дней назад55:52

55:52

Struggling to spend money? Same here. Honestly, I never thought this would be a problem as I got closer to financial independence. I mean, isn’t the goal to save up enough so we can finally spend on the things we want? Turns out, after 15 years of working hard to build wealth, it’s not so easy to let go. Add in some good old financial insecurities, and suddenly, I’ve got money, but I’m too nervous to spend it. And guess what? We are not the only ones. A lot of people in the FI community deal with this too, including Carl Jensen. Carl, known for his blog 1500 Days, has a net worth of $6 million. Yet, he still found it hard to spend money. That was until he started challenging himself to do it. Through these spending challenges, Carl figured out what really brings him joy, whether it’s something small like treating a friend to dinner or big like a $10,000 private concert with his favorite band (don’t worry, we’ll talk about that one!). So, if you’ve ever struggled to spend on things that would actually make you happy, this episode is for you. Hopefully, it inspires you to push past those money hang-ups and challenge yourself a little more. I hope you enjoy my conversation with the Telsa fantastic, dinosaur-loving, early FI trailblazer…Carl Jensen. Key Takeaways: How to recognize if you’re frugalism is hurting or helping Using spending experiments to uncover what is important to you One commonality of Carl’s favorite purchases What you can learn from the wrong purchases Mentions: Taming the Mammoth: Why You Should Stop Caring What Other People Think: https://waitbutwhy.com/2014/06/taming-mammoth-let-peoples-opinions-run-life.html More of Carl: Read Carl’s Blog: https://www.1500days.com/ More of The Struggle is Real: Find show notes and more at https://www.tsirpodcast.com/ Connect with Justin on LinkedIn: https://www.linkedin.com/in/justinleepeters/…

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Fast-Track Your 2025 Money Goals Using These Strategies | E159 Justin Brown-Woods 42:53

6 weeks назад42:53

42:53

It’s the start of a new year, and you’ve set some financial goals like paying off student loans, saving for a down payment, or maxing out your IRA. Whatever your goal, how awesome would it feel if you could fast-track your progress? It’ll take focus and dedication, but with the right strategies, you can turbocharge your cash flow and get there faster. Today, we’re joined by Justin Brown-Woods, Financial Coach and Co-Host of The Price of Avocado Toast. Justin not only helps his clients reach their financial goals but he has also walked the walk himself. After accumulating $220,000 in debt, Justin and his wife, Haley, decided to rewrite their financial story. In just 18 months, they paid off more than half of their debt and began rebuilding their wealth. And when I say “rebuilding,” I mean rebuilding. Before accumulating 6-figures of debt, they had $600,000 in the bank! It’s a story you don’t want to miss but I’ll let Justin spill the details in this episode. If you’re ready to fast-track your 2025 financial goals (without selling a kidney), this episode is packed with tips and inspiration to get you started. Key Takeaways: Opportunities that come with tightening your budget Practical ways to earn extra income that align with your lifestyle A simple side hustle you can start today Reward systems to keep you motivated and on track Tips for aligning financial goals with your partner More of Justin: Listen to the Price of Avocado Toast: https://www.priceofavocadotoast.com/podcast More of The Struggle is Real: Find show notes and more at https://www.tsirpodcast.com/ Connect with Justin on LinkedIn: https://www.linkedin.com/in/justinleepeters/…

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What Happens After I Reach FIRE? Withdrawal Strategy, Spending Changes, & Finding Meaning | E158 Jeremy Schneider 51:31

8 weeks назад51:31

51:31

Since discovering financial independence, I have focused on wealth-building: choosing the right accounts, investing wisely, and cutting expenses to save more. But now that I’m approaching my FIRE number, a new question has emerged—what happens after I reach financial independence? On one hand, there’s the technical side: What’s the best way to withdraw from my nest egg? This is something I hadn’t given much thought to until now. But beyond the finances, the bigger question is: What changes in life? Will I still scrutinize every expense? Do I worry about major market news? And most importantly, how do I want to spend my time? I need some guidance, and I’m guessing you do too, so I asked Jeremy Schneider to come to demystify life after reaching financial independence. Jeremy Schneider is the creator of the popular Instagram account, Personal Finance Club. He’s also the co-founder of Nectarine, a marketplace for advice-only financial advisors. Before launching Personal Finance Club and Nectarine, Jeremy built and sold a technology company for $5 million, achieving financial independence. This sum of cash catapulted him into financial independence. He had to answer the important questions quickly and in this episode, he shares what he learned from that experience. Whether you’re nearing your FIRE number or simply curious about what life looks like after financial independence, this episode is for you. I hope you enjoy my conversation with the man trying to bring light on the financial advising industry…Jeremy Schneider. Key Takeaways: A simple draw-down strategy for post-FI Finding purpose when work becomes optional Making peace with your life-long frugal habits What’s broken about the financial advising industry More of Jeremy: Get Financial Help: www.hellonectarine.com More of The Struggle is Real: Find show notes and more at https://www.tsirpodcast.com/ Connect with Justin on LinkedIn: https://www.linkedin.com/in/justinleepeters/…

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Anxiety-Free Purpose: Framework for Creating Purpose in Your Life | E157 Jordan Grumet 46:38

10 weeks назад46:38

46:38

Why save and invest? It’s a rhetorical question, but let’s think it through. When you save and invest, you’re sharing financial resources with your future self. This means your future self won’t have to worry about earning money. With that financial freedom, you gain time—the time you would’ve spent working. And with more time, you have more freedom to choose how to you spend your time. You might ask yourself, "What do I want to do with my time?" Maybe it’s traveling, exercising, or catching up on sleep. But then what? That question often leads to something deeper—finding your purpose. That’s a topic my friend Jordan Grumet, aka Doc G, knows a lot about. As a hospice doctor and the author of The Purpose Code, Jordan has explored purpose, connection, and identity in depth. In this episode, he shares insights from his latest book and helps answer the big question: “How do I find my purpose?”—or if it even needs to be found. If you’ve been reflecting on your purpose, well buckle up, this episode is for you. Get ready for a thought-provoking conversation with the hospice doctor and author of the newly minted book, The Purpose, Code..Jordan Grumet. Key Takeaways: How collections can bring you joy Little P purpose vs big P purpose The importance of the climb The 3 levers to create a more purpose-filled job How to create your purpose instead of find it Using a life review to identify what’s important to you Prioritizing community and connection More of Jordan: Order Jordan’s book, The Purpose Code at https://jordangrumet.com/books/ . Listen to Earn & Invest at https://www.earnandinvest.com/ . More of The Struggle is Real: Find show notes and more at https://www.tsirpodcast.com/ Connect with Justin on LinkedIn: https://www.linkedin.com/in/justinleepeters/…

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Creative Frugality: How to Do A Lot With A Little | E156 Jill Sirianni 50:01

12 weeks назад50:01

50:01

Who says you can’t have your cake and eat it too? With a little bit of creative frugality, I think it is possible to live below your means and buy the things that bring you joy. What do I mean by creative frugality? It is a two-part process. Number 1, identify the things you value and stop spending money on the things you don’t. That is what today’s guest calls value-based spending. Number 2, get creative with the rest of your spending. Let me give you an example. I have a friend that loves to try new restaurants but she hates spending money on dining out. So what did she do? She started an Instagram page where she reviews new restaurants that opened up in Austin. She reaches out to restaurants she wants to try and many of them invite her in and comp her meal. Sure it takes a little hustle but you know what that friend told me? She loves creating this content for her Instagram and she is enjoying getting to know the people who make up the restaurant scene in Austin. I’m not advocating you do this for every one of your spending categories. I’m just saying, think outside the box and experiment a little. This is exactly what Jill Sirianni did. While she was working to pay off $60,000 of debt on a social worker's salary, Jill knew she had to get creative. Housing cost is nearly unavoidable for everyone but Jill stepped back and asked “How could I spend less on housing but still have a home I love?” She found an opportunity to house-sit in a friend’s log cabin while they did some extended traveling. After that, Jill did two different stints living in an RV. She saved a ton of money, and similar to my friend, she actually enjoyed it. Now that her debt is paid off and Jill is financially well off, she bought a home in St. Petersburg FL but Jill told me she still cherishes the years she lived in the RV with her husband and it really made an impact on how she lives today. Nowadays, Jill is doing some cool stuff co-hosting the Frugal Friends Podcast and authoring the soon-to-be-released book, Buy What You Love Without Going Broke. It was a blast talking to Jill. I hope you enjoy my conversation with the licensed clinical social, gardener, and lover of the simple things…Jill Sirianni. Key Takeaways: How to identify what you want Values-based spending Frugality vs scarcity mindset Limitations lead to creative problem-solving How to give during the holidays without breaking the bank Affordable housing alternatives The benefits of frugality outside of saving money More of Jill: Frugal Friends Podcast: https://www.frugalfriendspodcast.com/episodes/ Buy What You Love Without Going Broke: https://www.frugalfriendspodcast.com/pre-order-buy-what-you-love-without-going-broke/ More of The Struggle is Real: Find show notes and more at https://www.tsirpodcast.com/ Connect with Justin on LinkedIn: https://www.linkedin.com/in/justinleepeters/…

1
Is Couponing Worth it, Using Your Old Student ID for Discounts, Weirdest Way You’ve Made Money, and More | E155 Joel Larsgaard, Jackie Cummings Koski, Justin Brown Woods 54:14

14 weeks назад54:14

54:14

Okay, this episode was so much fun to create. This is outside my normal format but equally as informative and probably more entertaining. In October, I attended FinCon, a conference for personal finance content creators. I know it is super nerdy of me but here you are listening to a personal finance podcast so you have no room to judge me. This was my fourth time attending and my favorite part is all the friends I’ve made over the years. So like when any group of friends get together, we had to play a game. The only difference is since we are a bunch of podcasters, it also had to be recorded. So in today’s episode, you are going to hear me and 3 friends play my version of Money Jeopardy. My three friends are Joel Larsgaard from How to Money, Jackie Cummings Koski from Catching Up to FI, and Justin Brown Woods from Price of Avocado Toast. These contestants will be choosing questions from 4 categories: Binge or Cringe - are you in or out on this personal finance topic History of Money - a tough money-related trivia question Frugal or Cheap - are you being a good steward of your money or just a cheapo Fill in the blank - complete this statement You will chuckle and laugh throughout this whole conversation but you’ll also pick up tips and tricks along the way. Joel, Jackie, and Justin really crushed it. I’ve been thinking about adding some segments to the show that incorporate questions like this episode, send me an email at justin@simplepodstudios.com . So kick back and get ready to have some fun. I hope you enjoy my conversation with Team J and fellow money nerds…Joel Larsgaard, Jackie Cummings Koski, and Justin Brown Woods. More of Guests: How to Money (Joel Larsgaard): https://www.howtomoney.com/ Catching Up to FI (Jackie Cummings Koski): https://catchinguptofi.com/financial-independence-podcast/ Price of Avocado Toast: https://www.priceofavocadotoast.com/podcast More of The Struggle is Real: Find show notes and more at https://www.tsirpodcast.com/ Connect with Justin on LinkedIn: https://www.linkedin.com/in/justinleepeters/…

1
10 Golden Rules of Personal Finance | E154 Jesse Cramer 50:40

16 weeks назад50:40

50:40

There are so many rules in the personal finance space. Some are helpful, others not so much. Let's set aside the bad ones for a minute (for example, stop buying avocado toast) and discuss the helpful ones. What comes to mind? I went through this practice and wrote down a bunch in preparation for an episode with Jesse Cramer on The Best Interest. I realized many would only be helpful for a certain group of people or at a particular time in someone's personal finance journey. One that comes to mind is to "avoid credit cards." This would be a great rule for those struggling with credit card debt. Probably not so great for everyone else. But through this process, I did land on 5 golden rules that I think would be helpful for everyone regardless of their situation...and Jesse did the same. Of course, as two podcasters would do, we took to the mics and debated our list. This conversation first aired on Jesse’s podcast, The Best Interest. Jesse is a good friend and has been on the show many of times. If you haven’t done so yet, go check out his podcast. He does a great job breaking down complex, financial topics and simplifying them through analogies and stories. You’ll get a taste of his style in this episode. Key Takeaways: Why do you need to track your money? How gift cards trick you into spending more The best investment is in yourself Simple is better than complex (almost always) Why and how you should prepare for risk. Why you MUST automate your finances, as much as possible Think long-term, but don’t forget the present Mentions: The original episode on The Best Interest: https://podcasts.apple.com/us/podcast/an-informative-debate-the-most-important-rules/id1553180943?i=1000651974649 More of Jesse: Blog: www.bestinterest.blog More of The Struggle is Real: Find show notes and more at https://www.tsirpodcast.com/ Follow us on Instagram at https://www.instagram.com/tsirpod/…

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You Can Afford to Leave Your Job But You’re Afraid to Quit | E153 Tess Waresmith & Nicole Franklin 48:35

18 weeks назад48:35

48:35

There will be a point in your FI journey when a stable salary will become less important to you. You’ve built up your savings and investments to a place where you are comfortable. The freedom and flexibility over your time are more valuable than that regular paycheck. The thought of leaving your job has you nervous though. Even after running the numbers and knowing you have enough, there are still a lot of emotions tied up in financial insecurity. “Do I really have enough? Maybe I should work for one more year.” On top of that, maybe you enjoy your job, don’t want to leave your team down a member during a busy period of work, or unsure what life will feel like without a regular 9-to-5 job. Setting all of that aside, deep down you know it is the right thing to do, you just can’t seem to pull the trigger. That is why I wanted to chat with my friends Tess Waresmith and Nicole Franklin. Both recently left their careers to pursue something else. If you listened to episode 138, you know Tess is a financial educator and money coach for women. Nicole Franklin and her husband Tyler are the creators behind the blog, Not Your Ordinary Plan, where they document their journey traveling the world while coasting to FI. In this episode, both Tess and Nicole share a ton of practical knowledge such as a checklist to prepare for your leave, how to tell your employer you’re quitting, and what to do about that pesky medical insurance. We also get into the mindset side of things such as how to feel confident this is the right decision and embrace the serendipity of a job-free life. If quitting is something you’ve been working towards, this is the episode for you. I hope you enjoy my conversation with world travelers and early retirees…Tess Waresmith and Nicole Franklin. Key Takeaways: How to know when it is time to leave your corporate job? Understanding money dysmorphia Test-driving retirement What to do before you tell your employer? How to let your employer know you’re quitting Embracing whitespace and serendipity of a job-free life Mentions: Die With Zero: Getting All You Can from Your Money and Your Life Taking Stock: A Hospice Doctor's Advice on Financial Independence, Building Wealth, and Living a Regret-Free Life More of Tess & Nicole: Instagram: @wealthwithtess and @notyourordinaryplan_ Tess’s Free Course: https://www.wealthwithtess.com/fi Nicole’s blog: https://notyourordinaryplan.com/start-here/ More of The Struggle is Real: Find show notes and more at https://www.tsirpodcast.com/ Connect with Justin on LinkedIn: https://www.linkedin.com/in/justinleepeters/…

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Ignoring the Rules and Paving Your Own Path to FIRE | E152 Diania Merriam 51:29

20 weeks назад51:29

51:29

I love FI because it allows me to break the rules and live outside the norm. Like, no one has time for 40 years of traditional employment. But little did I realize I left one set of rules only to get caught up in another - the rules of personal finance. For example, let's look at one popular idea, “spend less than you earn and invest the difference.” My friend Jeremy Schneider says this all the time and for the most part, he’s right. This is a great principle and one of the pillars of building wealth. But where we go wrong is when we get too fixated on a rule and let it box us in. Do we have to spend less than we earn…every year? No, we realize that is a silly idea. If you want to plan a year of travel, take off time to raise a newborn, or work on launching a business, that might be a year you spend more than you make…and that’s okay. I’m not saying Jeremy hasn’t had a year where he’s spent more than he’s earned. Knowing him, I’m guessing he’s had a couple but sometimes these general guidelines create a limited mindset. Another example is the 4% rule. This one boxed me in for years making me think I needed to reach my FIRE number before I could retire. I’ve been rethinking that a lot recently and one person who has impacted me is Diania Merriam. Through her 20s and early 30s, Diania worked in sales. In the midst of one of her peak earning years, she decided to take a 2-month sabbatical to walk 500 miles across northern Spain. A few years later, she quit that job entirely and retired from her corporate career at 33. Diania then founded the EconoMe Conference, a party about money. The conference wasn’t profitable the first few years but Diania didn’t care because she felt like organizing this event was her calling. She is the definition of rewriting the rule book which is why I wanted to have her on the show. I’m hoping through her story, you identify a personal finance rule that might be limiting your thinking. We get into topics like how to get your employer to say yes to a sabbatical, getting comfortable leaving a high-paying job, right-sizing work, and more. Key Takeaways: How to get your employer to say yes to a sabbatical Getting comfortable leaving a high-paying job Embracing an abundance mindset How to right-size your work Finding FI-lexbility More of Diania: EconoMe Conference: https://economeconference.com/ Optimal Finance Daily: https://oldpodcast.com/optimal-finance-daily-podcast/ More of The Struggle is Real: Find show notes and more at https://www.tsirpodcast.com/ Connect with Justin on LinkedIn: https://www.linkedin.com/in/justinleepeters/…

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When Your Spouse Makes More Than You | E151 Ed Coambs 45:04

22 weeks назад45:04

45:04

While we still have a lot of work to do, I’m really glad we’ve made strides in closing the gender pay gap. Women's increased incomes have led to significant changes in household dynamics. More women are becoming the primary or even sole breadwinner for their family. This change is great and has led to many positives for both men and women. However, our culture is still caught up in traditional gender roles, especially when it comes to money. Many people expect a man to be the primary breadwinner in a relationship. This leads to awkwardness, confusion and tension. In today’s episode, we are going to talk about those feelings, especially from the lens of men. There is no better person to have this conversation with then my friend Ed Coambs. Ed is a financial therapist and has over 20 years of experience working with individuals, couples, and families experiencing a wide range of money-related distress. In this conversation, we dive into topics such as overcoming your internal feelings about contributing less financially, managing money with your partner without feeding resentment, and responding to friends when they joke about the income disparity in your relationship. A lot of juicy topics, so if you’re ready for it, I hope you enjoy my conversation with firefighter turned certified financial therapist…Ed Coambs. Key Takeaways: What happens when your partner is making more than you Handling resentment when one partner makes significantly more money Managing your internal emotions when your significant other has the career spot light Understanding your money origin story Societal messaging about gender norms and money Responding to your friends make jokes More of Ed: www.healthyloveandmoney.com More of The Struggle is Real: Find show notes and more at https://www.tsirpodcast.com/ Connect with Justin on LinkedIn: https://www.linkedin.com/in/justinleepeters/…

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Roth vs Traditional: Which is Right For You If You’re Pursuing FIRE? | E150 Rachael Camp 45:17

24 weeks назад45:17

45:17

It’s one of the most hotly debated topics in personal finance…Roth or Traditional? Some argue that the national debt almost guarantees higher taxes in the future and that you should choose Roth and pay your taxes now. Others argue that flexibility and low-earning retirement years should lead you to choose traditional. And of course, some “professionals” highlight that retirement accounts are a scam and you should be investing in their life insurance product to avoid taxes altogether…for the sake of this conversation, we are ignoring that one. At the end of the day, we all know the correct answer…it depends. It wouldn’t be a controversial topic if there wasn’t nuance in the decision. Multiple factors make it a personalized decision for everyone. In today’s episode, we dive deep into many of those factors to help you feel equipped to make this decision for your situation. To help me with this goal, I invited on my friend and CFP Rachael Camp. Rachael recently appeared on the podcast in episode 143, so if you want to learn more about her story and her thoughts about work optionality, get that episode queued up. In this conversation, we jump straight into it, debunking bad advice, sharing a rule of thumb to decide if Roth or Traditional is the right option for you, discuss how unique factors such as which state you live in, RMDs, and medical subsidies might impact your decision, and ultimately, a case for why this decision should be revisited every year. So if you want to get deep into the weeds about Roth vs Traditional, this episode is for you. I hope you enjoy my conversation with the owner of Camp Wealth…Rachael Camp. Key Takeaways: The math behind bad advice If taxes are bound to increase, how does that change our decision? A Roth or Traditional rule of thumb based on your tax bracket Changes in your life that might impact how you should be investing How and why to create flexibility in your retirement accounts A year-by-year approach to maximize your tax savings More of Rachael: YouTube: https://www.youtube.com/@CampWealth/videos Website: https://www.rachaelcampwealth.com/ More of The Struggle is Real: Find show notes and more at https://www.tsirpodcast.com/ Connect with Justin on LinkedIn: https://www.linkedin.com/in/justinleepeters/…

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Is the US Stock Market Too Reliant on a Few Large Companies? | E149 Erik Baskin 43:44

26 weeks назад43:44

43:44

Over the last couple of years, a key group of companies known as The Magnificent Seven has emerged. This group of high-performing and influential companies includes Alphabet, Amazon, Apple, Meta, Microsoft, NVIDIA, and Tesla. These companies are at the forefront of sectors such as artificial intelligence, electric vehicles, cloud computing, and digital services. They have also been positively impacting much of the growth in the US stock market. Just last year in 2023, these 7 companies’ stocks grew 73% while the rest of the S&P 500 grew 8%. These companies are routinely showing up in many of the financial headlines and it got me wondering, is the US stock market too reliant on a few large companies? So I reached out to my friend and fellow CPA Erik Baskin, to see what he thought. He had a ton to say. Of course, as any podcaster would, I asked if he would be up to record a conversation about it. In this episode, Erik shares his thoughts about The Magnificient Seven’s impact on the stock market. We discuss if this concentration is new. We also explore what changes, if any, you should make to your investments because of this. Erik and I also had this awesome conversation near the end of the episode about when being a super-saver doesn’t make sense anymore. It really had me rethinking a few things in my life currently. Let’s get into it. I hope you enjoy my conversation with the Airman turned Financial Advisor…Erik Baskin. Key Takeaways: Has the US market become too reliant on a few large companies? Is this kind of concentration new? Equal weighted vs market cap Impacts of investing only in the S&P 500 Should we be investing at all-time highs? When being a super-saver doesn’t make sense anymore Mentions: Morning Star Portfolio X-Ray: https://www.morningstar.com/help-center/user-guide/x-ray-overview Die with Zero: https://www.amazon.com/Die-Zero-Getting-Your-Money/dp/0358099765 The Gap and The Gain: https://www.amazon.com/Gap-Gain-Achievers-Happiness-Confidence/dp/1401964362 More of Erik: Website: https://www.baskinfp.com/ BLUF Finance Podcast: https://www.baskinfp.com/podcast More of The Struggle is Real: Find show notes and more at https://www.tsirpodcast.com/ Connect with Justin on LinkedIn: https://www.linkedin.com/in/justinleepeters/…

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Reverse Budgeting: Low-Stress Way to Spend Guilt-Free and Keep Your Finances Healthy | E148 Peter Lazaroff 44:33

28 weeks назад44:33

44:33

Things can get complicated quickly in the world of personal finance. From investing and budgeting to estate planning and insurance, there are multiple ways to accomplish what you need to get done. Let’s take investing for example. There are different strategies including but not limited to passive index investing, value buying, the 3-fund portfolio, rental real estate, stock picking, target date funds, 70/30 splits…Honestly, I could rattle off a hundred different options which is why I wouldn’t be surprised if you got overwhelmed by all of the choices. The more experience I get, the more I realize, that simple is usually better. Although the word simple can mean different things to a lot of people, at the heart of the meaning, it means something is easily understood and easily done. So how can we simplify money? Well, my friend Peter Lazaroff wrote a whole book about the topic called Making Money Simple and he is on the show today to share some of those tips. In particular, we focus on investing and budgeting. On the investing side, we discuss why Peter chose to invest his personal portfolio into one index fund although he has gained a ton of knowledge managing six billion dollars as the Chief Investment Officer at Plancorp. And if you hate tracking every dollar you spend, we discuss an alternative to traditional budgeting, the reverse budget, which is a simplified way to make sure your spending is aligned with your income. Key Takeaways: What matters whenever it comes to successfully investing Why Peter invests in only one mutual fund The most important factor in investing How to simplify spending by reverse budgeting How to enjoy your money as it grows Mentions: Making Money Simple (free book): https://peterlazaroff.com/freebook How Peter Invests Guide: www.HowPeterInvests.com More of Peter: The Long-Term Investor Podcast: https://peterlazaroff.com/podcast More of The Struggle is Real: Find show notes and more at https://www.tsirpodcast.com/ Connect with Justin on LinkedIn: https://www.linkedin.com/in/justinleepeters/…

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How to Fight About Money Without Ruining a Relationship | E147 Allie Volpe 43:00

30 weeks назад43:00