Your REAL personal finance questions answered by CERTIFIED FINANCIAL PLANNER™ professionals, Scott Frank and Nick Covyeau. With all of the misinformation and jargon in the financial industry, it's no wonder most people are confused about how to best manage their money. Scott and Nick are here to give clear answers to the important questions they hear most often. If you're ready to use your finances to create a more secure financial future, this show is for you.
Rebalance your portfolio Resist the urge to panic sell Use tax laws in your favor Protect your cash flow and balance sheet Focus on the long term LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Sticher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here...
Should I rebalance my portfolio? Why rebalance? When should I rebalance? LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Sticher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here...
Do you have cash on hand to weather the storm? What is the money for? Where should I put it? How quickly should you enter? LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Sticher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here...
Description Scott and James discuss how to align your money with life: Focus First on What is Most Essential to You Kinder's Three Questions LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Sticher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here...
New York Time Article - A Hub for Help During the Coronavirus Crisis US Chamber of Commerce Guide & Checklist LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website 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...
New York Time Article - A Hub for Help During the Coronavirus Crisis Mint Article - COVID Resources LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website 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...
On this week's episode: What are the best retirement options for small businesses? 401k Simple IRA SEP IRA Defined Benefit Plan Profit Sharing Traditional IRA LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website 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...
On this week's episode: Scary Markets - What should I do? Feel the feelings Let's look at what is normal Review your plan LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website 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...
On this week's episode: Should I Just Own the S&P 500 Index? What is the S&P 500? What is an index? What is the Russell 3000? What about International? What about Emerging Markets? Invest in S&P 500 only or Globally, who wins by decade? LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website 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? Sub...
On this week's episode: A deeper dive on refinancing Where should you look to refinance? How can you go about it? What to look for: rate, points, and closing costs Know your breakeven for the refinance What type of loan is best for you? LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website 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...
On this week's episode: Should I Invest in Gold? A brief history of gold Commodity vs. Investment Inflation hedge? Portfolio Diversification LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website 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...
On this week's episode: Do I Need Disability Insurance? Which is more likely death or disability? What are the most common types? What is disability insurance? Am I covered with Social Security Disability Insurance? Types of Disability Insurance (DI) Where can you get DI? Terms to know Benefit Period Elimination Period Coverage Amount Cost of insurance Taxation LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTune...
On this week's episode: What can I really control in my financial life? What can't I control? What can I control? Savings Rate Mindful spending Asset Allocation Asset Location Investing in my career Creating a financial plan Having the proper insurance Optimizing cash flow and taxes Having an estate plan in place Treating planning as a process, not a thing LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, St...
On this week's episode: What changed with SECURE Act? Required Minimum Distributions (RMD) Pushed to age 72 IRA Contributions No longer an age limit Non-spouse Inherited IRAs Small Business Retirement Plans Other provisions Beware of annuities in 401(k)s! College Changes Super Geeky Detail if you want more! Thank you Jeff Levine LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google P...
On this week's episode: Should I leave my financial advisor? What are your options? Balanced Mutual Fund Ex: Vanguard Welling Fund Admiral Shares Robo Advisors Vanguard Personal Advisor Services Betterment Traditional Financial Advisor Find an Advisor Vanguard's Advisor Alpha What we believe a great financial should do: The 4 C's Competence Coaching Continuity Convenience There is a spectrum of advice .... what is right for you? Don't overpay for the level of advice you want Ex: Pay 1% of invest...
On this week's episode: How Social Security works Keys to maximizing Social Security What is the payback on Social Security? Should I delay Social Security or start as soon as possible? Other odds and ends LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Sticher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here...
On this week's episode: What is a credit score? Where does it come from? What factors count toward my score? Where can I find my credit history? Annual Credit Report Where can I find my credit score? Credit Karma LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Sticher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here...
On this week's episode: Pay Yourself First Have Sufficient Liquidity Pay Off Bad Debts Own the right-sized home Invest in your Career Five Fundamentals Of Fiscal Fitness LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Sticher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here...
On this week's episode: What is long-term care? How much does long term care cost? How do I pay for it? When should I consider Long-Term Care Insurance? Other considerations LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Sticher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here...
Pay Off Debt Save For Retirement Save For a Large Purchase Spend It! Have a plan ahead of time LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Sticher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here...
What is ESPP? The price discount is generally 15%. Enrollment period - decide how much of your paycheck you will contribute. Can’t contribute more than $25k/year, although companies can limit the amount to a % of salary. Purchase period - usually 6 months. The period during which Look back provision - not required for all ESPPs, but allows the discount on the lower of the stock price on the first or last day of the purcase period. Is it smart to tie up with a single employer? If you sell your sh...
What are Restricted Stock Units (RSUs)? Stock Options vs. Restricted Stock Units (RSUs) Vesting Taxes Create a plan for your RSUs LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Sticher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us to answer? Submit one here...
Understand the purpose of what you’re saving for Know your short to medium term goals Emergency Fund Home purchase fund Other goals? Travel, new car, etc... Start with the short-term goals. Can you save enough to these goals and still save enough for your retirement needs? If so great. If not then something needs to give. General guidelines: If you have a 401k match, take it. Make sure you have an emergency fund LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY ...
Progressive tax bracket Everyone pays $1,905 on first $19,050 of taxable $140k taxes at $400k? 35% tax bracket Actual taxes = $91,379 (22.8% taxes) Tax Rate Taxable Income Bracket 10% $0 to $19,050 12% $19,051 to $77,400 22% $77,401 to $165,000 24% $165,001 to $315,000 32% $315,001 to $400,000 35% $400,001 to $600,000 37% $600,001 or more Deductions Standard deduction - $24,400 Itemized - mortgage interest, state/local taxes, charitable giving, medical expenses over 7.5% of AGI Other considerati...
“My parents bought a home for $300k 30 years ago now it’s worth $1mm” About 4% rate of return in this example Lots many variables: Cost of renting Interest rates Property taxes & maintenance costs Cash for down payment Is it a good investment compared to what? S&P 500 long-term return is 10% Historically, housing prices have averaged around 4% per year Huge differences in different parts of the country, but this is national average Shouldn’t be viewed as a purely financial decision What ...
Know your retirement funding deadlines: 12/31 - Last day to pay itemized deductions, establish a solo 401k, complete contributions to employer 401k IRAs, Roth IRAs - 4/15/20 SEPs tax filing deadline Maximize 401k and HSA Evaluate capital gains / losses in taxable accounts Loss carry forward? Tax loss or tax gain harvesting Will you itemize your deductions? Standard vs itemize What can you deduct? Lump deductions Check your withholding Make estimated payments Review eligibility of 199A pass throu...
Do I Need an Emergency Fund? Rule of thumb 3 to six months of income Is there a better way? Know your expenses What would you spend if you could only use money for essential living? How many months would you want to feel safe? Another way:10% of income if salaried or 20% if self-employed - Keep another 20% or 40% in retirement funds as a back up to the back up. Example $100k per year salared $10k in online savings account, $20k in bond funds in retirement accounts. If self-employed double. Where...
Is now a good time to refinance my mortgage? Where do you stand today? Current rate Credit Score Income How seasoned is your loan? Amort example $500k loan year 3 vs year 15 Year 3 P&I 5% $2,684.00 P=698 I=1986 Year 15 P=1270 I=1414 What are new rates? 3.625% Typically .5% reduction or more is worth a look What will the new rate do for cashflow? $485k 3.625 $2,212 Saves 472 per month or $5,600 per year How much are closing costs? Expect $3 - 4k in SoCal How long to payback? What will you do ...
In this episode: Are they a fiduciary Are they a CFP® Pro What types of clients do they work with? Do they understand your problems? Are they really listening? How do I pay you? How else are you paid? Should you go with big firm or an individual financial planner LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t miss an episode, subscribe via iTunes, Sticher, Spotify, or Google Play. Leave us a review on iTunes. Have a money question you want us ...
