Wow - did someone just say that your 401k is a bad plan? Yes. Rebecca Walser comes on the show to share with us why your 401k isn’t just hurting you...it’s actually KILLING your financial plan. It all started back in 1978 when the famous 401k plan was in a way created by accident. Back in the late 1970s, most employers contributed to a defined benefit plan (AKA a pension) and that cost employers a lot of money. During this same time, tax rates were much higher than they were today and some very ...
Aug 28, 2020•37 min•Ep. 143
Do you get paid a little differently each month? Maybe you are an entrepreneur, a real estate agent, in sales, or you you're a self-employed independent contractor. If this is you, you need to learn how to budget with irregular income. This week on the show, I am going to walk you through the 6 steps to irregular income budgeting. This is the same system I have used in my own business when setting up a monthly budget based on fluctuating income. Step 1: Find Your 90 Day Average Income Step 2: De...
Aug 21, 2020•22 min•Ep. 142
Today I am going to break down the exact same budget our students are currently using to save on average $500 or more each month. A recent study shows that nearly 80% of Americans are currently living paycheck to paycheck. This isn't because they aren't making enough or that they're spending too much — it's because what gets measured gets managed. On the show I will be breaking down the 7 steps below in detail and explain how they work and why each step is so important. Step 1: Go back 90 days S...
Aug 14, 2020•16 min•Ep. 141
On Monday, the Senate pushed through the HEALS Act which is expected to be signed into law on August 7th. What to expect from the HEALS Act: Stimulus Checks $1,200 for individuals making less than $75k and phasing out at $99k $2,400 for families making less than $150k and phasing out at $198k $500 for dependents 19 and younger OR 24 and younger if they are a student Unemployment Benefits The $600 weekly benefit (in addition to state benefits) expires on 07/31/2020 Decreased amount to $200 per we...
Jul 31, 2020•18 min•Ep. 140
We focus so much about helping our kids with the finances, but what about our parents? Right now there are close to 50 million Americans who are age 65 and over. This means 1 out of every 7 Americans should at least start having the money talk sooner than later. But how do you start a money conversation with your parents? What should you say, and more importantly - what do you NOT say? What things need to be in place before it's too late? What are the real-life examples of the shattered families...
Jul 24, 2020•34 min•Ep. 139
This week there was a post floating around social media right now (you've probably seen it) about the reality of a Cashless Society. I am going to break down that post, compare the facts vs fiction and the pros vs cons of a Cashless Society . Some of the facts surrounding the idea of a cashless society is absurd, a little bit of it actually makes sense, and part of this may even get the hairs on your neck to stand up! Don't worry, I'm not going to make you wonder where I stand on this topic...I'...
Jul 17, 2020•40 min•Ep. 138
Talaat McNeely from His and Her Money is on the show today to talk about how they paid off their mortgage in 5 years. Talaat and his wife Tai started His and Her Money back in 2015 and have become known as America's Couple Money Experts. They have an incredible YouTube channel with 144k subscribers and one of their highest viewed video is where they walk into the bank and pay off their mortgage! From starting with a negative net worth, lies about money inside the marriage, and a pile of debt — t...
Jul 03, 2020•39 min•Ep. 137
Affluenza is the damage done to our health, our families, our communities, and our environment by the obsessive quest for material gain. To make this simple: Affluenza is the "we need more stuff to be happy" epidemic. Since the late 1950s, the happiness inside the United States has steadily decreased. However, incomes have almost doubled, our houses have more than doubled in size, and the quest to gain happiness through "stuff" is at an all time high. And what about the consequences of Affluenza...
Jun 26, 2020•29 min•Ep. 136
Benjamin Brandt, host of the Retirement Starts Today Radio Show and Founder/CEO of Capital Wealth Management is coming on the show today to talk about the 5 steps to building wealth inside your 401k. Believe it or not, $1 million may seem like a lofty goal by today's standards, but will it be enough if you're planning on retiring 20-30 years from now? Here are the 5 steps we will discuss during the show: Step 1: Start Saving Today The money you will be living off of in retirement is not from the...
Jun 19, 2020•37 min•Ep. 135
What if God spoke to you and told you to take a year off from work? Not in a few months or years from now, but right now? This is exactly what happened to the founder of Seedtime.com — a Christian personal finance site dedicated to teaching biblical principles about money. During the interview, Bob shares how he was just coming off another great year in his business when he felt the nudge from God to take a year off. Timing could not have been worse for Bob when he felt God call him to do this, ...
Jun 12, 2020•33 min•Ep. 134
Why would anyone want to invest in real estate? Maybe it's to diversify their retirement nest egg? Or maybe they're looking for a passive income stream? Or maybe they want to build long-term wealth they can pass down to future generations? Whatever your reasoning is for investing in real estate, the biggest question should be: How do I get started? I'll be honest - even for someone who has spent years inside the financial world, I still have many questions and I am definitely NOT an expert in re...
Jun 05, 2020•43 min•Ep. 133
Chris explains some really interesting ways to improve our credit that I had never heard of before. One thing Chris mentions is making sure you pay down the balance on your statement close date and not on the payment due date. This is because the banks report to the credit bureaus on the statement close date — not on your due date. This means even if you pay off your credit card on-time, you could still be hurting your credit if your balance is above the available credit line threshold. Also, Ch...
May 21, 2020•40 min•Ep. 132
Do you have a ROTH 401(k) option with your employer? Right now about 50% of employers who offer a 401(k) are now offering a ROTH 401(k) as an alternative option for retirement, and 60% of those who have access to a ROTH 401(k) are using them. In this episode, I am going to talk about why the ROTH 401(k) is a much better option and explain exactly how the ROTH 401(k) works. Once you understand the why behind the ROTH 401(k), you'll be making the call to your HR department and start contributing t...
May 15, 2020•21 min•Ep. 131
Have you noticed that every successful brand, company, and entrepreneur have one thing in common - they all have a blog? Blogging has become the #1 way to help a business create loyalty from their customers by creating valuable information their future customers both want and need. A real estate agent may blog about the housing market, a stylist could blog about DIY tips for your hair, and a personal finance coach may even blog about tips to living on a budget! The point is, all brands should ha...
Apr 30, 2020•34 min•Ep. 130
How much money can you really make as a virtual assistant? Lately as we enter week 5 of quarantine, I have had many people ask me how they can start to generate income from home. One of my favorite ways I recommend to others is as a virtual assistant. Which brings me to my guest on the show today - Kayla Sloan. She is my former virtual assistant for Money Peach and today Kayla has moved away from doing virtual assistant work to actually helping others get started. Over the past few years, she ha...
Apr 20, 2020•37 min•Ep. 129
There are many changes to retirement distributions since the passing of the CARES Act. I will cover: • Waiving the ealy withdrawal penalty from retirement account • New rules for taking a loan against your retirement account • RMDs and how this could be used towards your advantage this year • Paying taxes on withdrawals and how it has changed • Current retirement plan loan and how that has changed for 2020 If you have a question, visit moneypeach.com/askpeach and you can leave an audio recording...
Apr 16, 2020•23 min•Ep. 128
I have Deacon Hayes, founder of Well Kept Wallet and money expert when it comes to side hustles and making extra money. This episode was recorded live and streamed to both the Money Peach Facebook and Money Peach Youtube channels. In the episode we share some of the best places to make money from home. Freelancing from home has become extremely popular over the years - especially during COVID-19. But, if you still feel like you're ready to leave the house and make money at some of the essential ...
Apr 09, 2020•26 min•Ep. 127
Robert Farrington from The College Investor - an expert in everything student loans, is here to tell us everything we need to know about Student Loans and what to expect with the passing of the CARES Act. How long do you have to completely stop making payments? How will the interest be accrued on your student loan? What about income-driven student loans? What if you have a PSLF student loan? What if your set up on auto-debt - what should you do? What if your student loan is currently under tax o...
Apr 03, 2020•32 min•Ep. 126
Today on the show I bring on Jacob Wade from iHEARTBUDGETS to share everything you need to know when it comes to changes to the finances with COVID-19. Jacob was recently featured on CNET, the Plutus Foundation and many other sites as the go-to resource for financial relief during this crisis. In the interview, we discuss: How much each person will receive from the CARES Act When they can expect to see the money hit their account How they will receive the money How much you will receive for each...
Apr 02, 2020•42 min•Ep. 125
Dave Ramsey personality Chris Hogan is coming on the show today to explain how the everyday normal guy can in fact become a millionaire. Now, before you raise your eyebrow at me - let me be clear on what a millionaire is… A millionaire does NOT mean you earn a million dollars per year. Instead, Chris explains that a millionaire is simply someone who has a NET WORTH of a million dollars or more. This means if you take their assets (what they own) and subtract their liabilities (what the owe), the...
Jan 14, 2019•29 min•Ep. 124
I know, I know - Medicare is not a very sexy topic in life. But, what if I told you there was an opportunity to save thousands of dollars in the future by PAYING attention to Medicare right now? By the way - did you know medical coverage in retirement is the largest expense you will all face later in life? And, since I haven’t covered this topic at all on the show, I knew now was the perfect time. I also knew I wanted to bring the best of the best on when it comes to experts in this arena, so I ...
Dec 20, 2018•29 min•Ep. 123
Well, are you about to freak out yet? Why? Because we are about a week away from Christmas and the spending is in full force right about now. In fact, did you know the average American family will spend over $845 in 2018 and closer to $1,000 in 2019?! I am not saying you shouldn’t spend that much this Christmas. I say if you have the money and want to spend it - by all means, go right ahead! But what if you don’t have the money? What if the holiday season sneaks up on you and the only option is ...
Dec 13, 2018•12 min•Ep. 122
For the longest time I have poo-pooed the idea of travel hacking. For me, it meant you were supposed to go out and sign up for as many travel credit cards as possible. Then, you would try to spend as much as money on each credit card to “chase the rewards.” I remember thinking: Wow! I can spend $40,000 on a credit card and score a free plane ticket - no thanks! Then I met Travis. Side note: I met Travis at a little dive bar in Philadelphia last summer through a mutual friend. When he first told ...
Nov 22, 2018•39 min•Ep. 121
Eighteen months ago I brought my wife on the show to talk about how her and I FINALLY got on the same page with money inside our marriage. The episode was one of the most downloaded episodes of all time...and then we were told by the news station she was working for at the time that the show would have to pulled down ASAP. However, she has since retired and now the episode is being relaunched because I know how many of you will be able to relate. The backstory… We had just got married, had great...
Nov 15, 2018•32 min•Ep. 120
Joseph Hogue is an online serial entrepreneur. What I mean by that is he has created multiple different income streams online and has had success multiple times over. I asked Joseph to come on the show to share his journey with us so we can create some ideas of our own when it comes to generating income online. Joseph has owned 6 different personal finance blogs. All of Joseph’s blogs have made money and he has even sold two of them. He has also authored 10 books which he sells passively on Amaz...
Nov 08, 2018•28 min•Ep. 119
I am honored to have the hosts of one of the most successful marriage podcasts come on the the show: Tony and Alisa DiLorenzo from the One Extraordinary Marriage Podcast. Tony and Alisa are experts when it comes to everything marriage: dating, kids, sex, lifestyle, and MONEY. I of course would like to talk about all of it with them, but on the show this week we are solely going to focus on the money. Here’s what we have in store for you: • Should couples share a bank account and why (or why not)...
Nov 01, 2018•39 min•Ep. 118
Eric Brotman is on the show to share with us the four strategies everyone needs to implement to keep Uncle Sam away from your money. There are so many different ways to build wealth, but the ones Eric focuses on during our interview all has to do with taxes. Believe it or not, very simple decisions you make today will have tremendous benefits or consequences later in life. Whether we are talking about a 401k, ROTH IRA, 529, or even some outside-of-the-box strategies, all of them have tax implica...
Oct 25, 2018•32 min•Ep. 117
Peter Hug has been in the gold industry for nearly 40 years which makes him an expert in my opinion when it comes to gold. Now to be honest, I am not a fan of gold (yet). In fact, I have never once invested in gold because I have personally never liked gold as an investment. So, why am I willing to learn more about gold now, right? First off - I don’t know much about gold. One of my rules is I do not invest in things I don’t understand. Therefore, investing in gold was never something I was comf...
Oct 18, 2018•26 min•Ep. 116
She’s been the leading lady on local tv for nearly 15 years and now, she is stepping into the next chapter. She’s also my leading lady in life and the Mama to our crazy kiddos. We sit down and she answers the ONE question EVERYBODY has asked us since she resigned from her position. “How can you just leave a job? An income? Are you scared?” Many of you know our debt free story and how we were buried under $52,000 in debt in 2010. For those that don’t, well, we tried to keep up with the Jones’ for...
Oct 11, 2018•29 min•Ep. 115
Wow - did someone just say that your 401k is a bad plan? Yes. Rebecca Walser comes on the show to share with us why your 401k isn’t just hurting you...it’s actually KILLING your financial plan. It all started back in 1978 when the famous 401k plan was in a way created by accident. Back in the late 1970s, most employers contributed to a defined benefit plan (AKA a pension) and that cost employers a lot of money. During this same time, tax rates were much higher than they were today and some very ...
Oct 04, 2018•38 min•Ep. 114
