Have you ever wondered if you should prepay your mortgage? In today's show I give you the information to make an informed decision based upon your personal situation. We take into account the analytical side of the decision as well as the emotional relief that can come from being DEBT FREE…. Read more at http://www.moneyguy.com/2008/02/should-you-prepay-your-mortgage-and-mutual-fund-opportunities Learn more about your ad choices. Visit megaphone.fm/adchoices...
Feb 11, 2008•26 min
January is officially history and there was a tremendous amount of volatility. On today's show I share how you can turn the lemons of January into sweet lemonade that can provide complete peace of mind on one of your largest assets (your home). For more information, visit the show notes at www.moneyguy.com/2008/02/nuts-and-bolts-of-obtaining-a-mortgage-and-how-to-cut-closing-costs Learn more about your ad choices. Visit megaphone.fm/adchoices...
Feb 04, 2008•36 min
We are covering: Details of the Government’s bipartisan economic stimulus program “How to drive your tax preparer crazy” discussion with CPA, Brandon Verner Listener’s Question Answered: What to do with 401k accounts from prior jobs Read more at http://moneyguy.com/2008/01/stimulus-package-tax-preparation-discussion-and-ira-rollovers Learn more about your ad choices. Visit megaphone.fm/adchoices...
Jan 28, 2008•48 min
If you need proof that this broad sell-off is nothing new then read an article that I wrote back in October 2002. (click here for a copy) In the article I let readers know that diversification and not letting their emotions get the best of them is the secret to long-term investing. Read more at http://www.moneyguy.com/2008/01/coping-with-an-uncertain-market-us-credit-under-fire-and-what-does-900-gold-mean Learn more about your ad choices. Visit megaphone.fm/adchoices...
Jan 21, 2008•49 min
A new year can represent a fresh start for many. I know that many out there have made financial resolutions and I want to be a resource to help you reach that goal of financial independence. Let's talk about some of the big areas that may need attention: Wills Life Insurance Beneficiary Designations on Life Insurance and Retirement Plans Asset Allocation For more information, visit the show notes at www.moneyguy.com/2008/01/2008-financial-resolutions-and-how-not-to-have-a-1987-portfolio Learn mo...
Jan 07, 2008•49 min
The emotions that your brain creates can lead to disaster if you do not know how to recognize where your decisions and actions are coming from (analytical side of the brain or emotional instinct to avoid risk). Remember when you are wondering if the financial markets are going up or down the answer is always, “YES” For more information, visit the show notes at http://www.moneyguy.com/2007/12/money-and-your-brain-amt-update Learn more about your ad choices. Visit megaphone.fm/adchoices...
Dec 22, 2007•48 min
If you are a Georgia listener then Christmas has come early this year. As of December 11th the GA 529 plan has been drastically improved (probably because of the pressure of competition between the different 529 plans). The big improvements included: ** Georgia state income tax deduction update – For tax years beginning on or after January 1, 2007, contributions to an account are deductible up to $2,000 on behalf of any Beneficiary for Georgia income tax purposes. A Georgia taxpayer is not requi...
Dec 17, 2007•48 min
Current events are impacting the world of personal finance and the financial markets. Many of you have asked me to provide more input on current financial events, and if you are one of those listeners you will get more than your fill with this show. For more information, visit the show notes at http://www.moneyguy.com/2007/12/mortgage-plan-review-e-commerce-booming-and-candidates-take-on-social-security Learn more about your ad choices. Visit megaphone.fm/adchoices...
Dec 10, 2007•47 min
The White House lowers ’08 economic forecast (click here for more information) October foreclosure filings up 94% over last year (click here for more information) I did not want you to think that I was only pulling out the bad news… I did want to give you a little ray of hope with this article: Q3 economic growth fastest in four years, revision shows (click here for more information) ** "Free" credit reports ** Many of you have probably figured this out. It appears that the credit reporting comp...
Dec 03, 2007•49 min
Capital Gains Looming Once Again by David Hoffman with Investment News … Investment News is an industry magazine that I get, but I think the information in the article is important because it ties to our discussion from last week about the level of distributions that many of us will recieve this year from our Mutual Funds. What Kind of Loan Should You Get provided by SmartMoney.com … Many of you have asked me to share my insights on what type of loan you should get for your home. For more inform...
Nov 19, 2007•49 min
On today’s show we discuss: 1st Segment includes information on what you need to look at with your portfolio at year end. ** Harvesting Tax Losses ** Avoiding Year End Mutual Fund purchases until after you determine whether year end distributions have been made by the fund (could be as high as 10% in some popular funds this year). ** Charitable donation reminder 2nd Segment Six Ways to Save on Auto Insurance by Stephanie AuWerter from SmartMoney Magazine 3rd Segment What’s Wrong with Variable An...
Nov 12, 2007•49 min
Defending credit card companies is hard to do because they do have quite a few practices that are down right sleazy (shrinking grace periods, escalating interest rate, holiday due dates, etc.), but if used properly they can be a helpful financial tool. In this episode we share articles from the following: " 8 Experts Recall Their Best Personal Finance Advice " by Dana Dratch from bankrate.com " Are Credit Cards Evil, or Just Dangerous? " by Liz Pulliam Weston from MSN Money " Where Do You Stand ...
Nov 05, 2007•48 min
"Should You Be Investing In the Roth 401(k)?" – I have received several emails from listeners asking questions about Roth 401k options at their workplace. I actually covered this topic in the first quarter issue of the "Wealth Report" newsletter. I am using that article in today’s show. For more information, visit the show notes at http://www.moneyguy.com/2007/10/roth-401k-financial-records-to-keep-and-social-security Learn more about your ad choices. Visit megaphone.fm/adchoices...
Oct 29, 2007•49 min
The Securities and Exchange Commission (SEC) called last week and let me know that they were stopping by our offices. As you can imagine, this is not my favorite kind of phone call. We had nothing to hide or worry about, but it’s still a stressful situation. In light of this visit I decided that this would be a great time for me to focus the show on a few "rainy day" articles I had put away to discuss. For more information, visit the show notes at http://www.moneyguy.com/2007/10/financial-leftov...
Oct 22, 2007•49 min
Points of Consideration for Education Planning Many of you have written to ask that I provide some guidance on education planning and I have stayed away from the subject because education planning is one of those subjects that has a limited audience. I always try to do the Money Guy show with the understanding that we have listeners that are new to investing and personal financial planning as well as tried and true weathered investors that I can still enlighten from time to time with my insight....
Oct 08, 2007•47 min
Terms needed to understand asset allocation: Domestic Stocks = US Companies Market Capitalization of US Stocks (According to Morningstar): Large Cap = US Companies with a Market Cap greater than $11 Billion (these are the companies that are household names like Wal-Mart, GE, Home Depot, Coca-Cola, Pfizer, and so forth) Mid Cap = US Companies with a Market Cap between $2-$11 Billion (these are companies that you might have heard of like HR Block, but are not the size of the previous listed group....
Oct 01, 2007•49 min
Basic Definitions Diversification: The idea of spreading out your money across many different types of investments. Choosing to diversify your investment holdings reduces your risk tremendously. Risk Tolerance: An investor’s ability to withstand losses caused by one or more of the different types of risk. This ability can be limited by your temperament as well as your time frame and financial circumstances. For example, someone who is investing for a goal 10 to 20 years or more in the future gen...
Sep 24, 2007•48 min
The focus of the program is on the changing retirement landscape. 1974 Retirement Funding: 11% Employee 89% Employer 2006 Retirement Funding: 51% Employee 49% Employer Defined Pensions: The Endangered Species For more information, visit the show notes at http://www.moneyguy.com/2007/09/retirement-in-crisis-update Learn more about your ad choices. Visit megaphone.fm/adchoices...
Sep 17, 2007•49 min
The most important concept that determines how financially successful an individual/family is going to be is: * Deferred gratification * The hardest part of financial independence is not the investing… it is the savings factor: In today’s world it is getting harder to be a good disciplined financial household. There is so much outside influence and temptation that only the strongest make it (faking success). **Credit Cards ** The desire to drive a new flashy car ** “Same as Cash” for everything...
Sep 10, 2007•46 min
I personally make use of both credit cards and the large sum of equity that I have in my personal residence. I responsibly pay my credit cards off each month, but thoroughly enjoy the $1,200 to $1,500 of annual rewards and cash back that I receive. I also use my home equity as a tool that allows me not to keep huge sums of cash sitting on the sidelines just in case I need money for an emergency. I want as much of my money working for me at all times, so that eventually my army of working dollars...
Aug 27, 2007•47 min
the benefits of using Long/Short Funds. A long/short fund takes advantage of a technique that many hedge funds use that allows them to make money in both a rising and falling market. Long/short fund managers divide their funds’ assets into two types of positions (long and short holdings). Long positions – meaning they buy stocks expecting that they will rise in value and can be sold at some point in the future at a gain (this is the traditional form of investing that most investors are use to… b...
Aug 10, 2007•34 min
I have spent the last two weeks preparing for the IRS. Unfortunately, I still do a small number of business tax returns (old habits are hard to get away from). One of my small business tax clients was selected for a full examination (Audit). I have over over 10 years of experience in completing tax returns, and this is the first business return that has been selected for an audit. I guess it was my turn to sit on the hot seat. We had the IRS agents here in the office on Wed. and then we met at t...
Jul 27, 2007•30 min
I’m a straight talker, so please don’t hate me for a harsh, but true statement: when people are falling short of their financial goals, it’s almost always because of their own actions and decisions. Examples: Putting off investing in your Roth IRA or maximizing your 401k at work (“I need the extra money to fake success for my friends and family”) Hating your boss and job, but doing nothing to change your situation (“I’m scared to try something new and the interviewing process for a new job is st...
Jul 13, 2007•26 min
A quick review of your financial health is today’s topic. I am taking a brief break from talking about investments. Instead I am going to load you up with planning ideas and even tools that I use to keep my financial house in order. Estate Planning & Risk Management (I know that it is dark to talk about death or other bad events that could occur in your life, but it is important to discuss). Wills – If you have children you must have a Will. Otherwise, you are leaving their future in the ...
Jun 29, 2007•37 min
First you guys need to know my thoughts on what is known as Efficient Market Theory Efficient Market – Since everyone has the same information about a stock, the price of a stock should reflect the knowledge and expectations of all investors. The bottom line is that an investor should not be able to beat the market since there is no way for him/her to know something about a stock that isn’t already reflected in the stock’s price. I feel that this Theory holds true for Large Cap. US Companies. Th...
Jun 15, 2007•33 min
There are tons of podcasts out there that explain how to spend less than you make, and how credit card debt can drain financial freedom. How many actually have the training and know how to help you with the crucial portion of your extra cash flow and retirement funds? I would dare to say not many because most either do not know what to tell you or they are trying to sell you a product so they will never tell you (unless you invest $2k into their proprietary system). I am here to help by focusing...
May 17, 2007•35 min
Tax Refund Challenge: Now that you have filed your taxes it is time to evaluate where you are financially. Say what you will about filing tax returns they at least allow you to take inventory on how much you earned in 2006. I am always talking about saving for the future and making sure that you are locking away 15%-20% of your gross wages for the future. That is easy to say when you earn a good living, but I know from emails that I receive that many out there are struggling financially. The ave...
Apr 18, 2007•27 min
The financial markets have been very choppy this quarter. We started off 2007 with day after day of the stock markets hitting new highs. Then one crazy Tuesday in February (27th to be exact) the bottom fell out of the market (I blame it on my producer Heidi; she was off that day spending time with her dentist and a root canal). Ever since it has been up and down to the point that many of you are wondering what in the world is going on. On today’s show I am going to share with you the resources t...
Mar 23, 2007•27 min
There is a storm of concern that has been building for quite some time, and it is finally getting the attention that it deserves…. 401K FEES: CNNMoney.com “Lawmakers to take close look at hidden 401(k) fees” US Deprtment of Labor “A Look at 401(k) Plan Fees” MarketWatch “More fee disclosure could save 401(k) owners money, Congress told” For more information, visit the show notes at http://www.moneyguy.com/2007/03/are-401k-fees-robbing-you-of-your-retirement Learn more about your ad choices. Visi...
Mar 12, 2007•32 min
Term Life Insurance is appropriate for people who want life insurance only for a limited term, such as until your children are grown or you reach retirement age. Term life insurance has become much more affordable in recent years due in part to the fact that people are living longer. A $500,000 term-life policy can now cost as little as $350 a year for 20 years, which is considerably cheaper in comparison to the more than $1,000 a year that it would have cost you in the early 1990s. For more on ...
Feb 23, 2007•46 min
