#550: Paul Merriman, a former wealth manager turned financial educator, joins us to share investing wisdom that could reshape how you think about your money. We kick things off talking about portfolio diversification. Paul suggests a simple four-fund strategy that includes large cap, small cap, and value stocks. He says this mix has historically beaten the S&P 500 with lower risk. We then dive into international investing. Paul explains that while adding international stocks doesn't necessarily ...
Oct 18, 2024•1 hr 5 min•Ep 550•Transcript available on Metacast #549: Steven is stuck on the question of financial stability. How do you know if you have it? Is there an objective answer based on net worth? Or is it a calculation relative to your income and age? Jack isnt sure how to factor his house into his net worth. Its an asset, but he has a mortgage against it, and there are transaction costs associated with selling it. How should he frame it? Patricia and her husband are debt-free with a $2.2 million net worth, but shes constantly stressed about their...
Oct 15, 2024•1 hr 16 min•Ep 549•Transcript available on Metacast #548: Economist Dr. Karsten Jeske talks with us about the current economic landscape. Karsten, who retired at 44, breaks down the Fed's recent decisions and how they might affect our finances. He explains how markets often anticipate interest rate changes before they happen. Karsten challenges traditional views on inflation and unemployment, telling us that textbook models don't always match reality. Karsten shares his personal investing experiences, covering both market highs and lows. He empha...
Oct 11, 2024•1 hr 19 min•Ep 548•Transcript available on Metacast #547: An anonymous caller and her husband have a $2 million net worth at 40, but theyre worried that the one-fund portfolio that got them there isnt good enough anymore. Are they right? Jared feels frustrated that so much personal finance media is centered around tech and freelance workers. Does Paula and Joe have negotiation advice for someone in the union? Sam owns two overseas properties in a country thats experienced runaway inflation for the past decade. Hes worried hell lose $500,000 worth...
Oct 08, 2024•1 hr 14 min•Ep 547•Transcript available on Metacast #546: The Federal Reserve slashed interest rates by half a percentage point. What does this mean for your mortgage, your savings account, and the economy at large? In this First Friday economic episode, we dive deep into the Fed's decision. But that's just the beginning. As the presidential election looms, we'll also unpack the economic proposals from both candidates, examining how their plans for housing, taxes, and more could shape your financial future. We emphasize critical, non-partisan ana...
Oct 04, 2024•2 hr 31 min•Ep 546•Transcript available on Metacast #545: Kat feels thrown off. Shes realizing that the simple investing strategy that nearly 5xd her portfolio in six years might be unwise. Should she course correct? And how? Ryan and his wife are torn between buying what they want (a single-family house) and what seems prudent (a multi-family house). How do they decide? Is there a third way? At 30, Danielle has saved enough for a traditional retirement. But shes confused about how this meshes with planning for an early retirement. How should she...
Oct 01, 2024•1 hr 11 min•Ep 545•Transcript available on Metacast #544: Remember that time you found a $20 bill in an old jacket pocket? The rush of excitement, followed by the quick mental math of what you could buy with it? That's your money mindset at work. In this episode, we dive deep into the psychology behind our financial decisions. You'll hear about the three money mindsets: anxious, obsessed, and avoidant. Ever clutched onto every penny out of fear? That's the anxious mindset. Spent big to impress others? Money obsession. Ever thought "I'd rather be ...
Sep 27, 2024•45 min•Ep 544•Transcript available on Metacast #543: Picture this: You're at a car dealership, trying to get the best price on your dream car. The salesperson hits you with a "take it or leave it" offer. Your palms are sweaty, your heart's racing. What do you do? That's just one of the tricky situations we dive into in this episode. We're tackling seven types of hardball negotiation tactics that can trip you up in all sorts of situations - from asking for a raise to haggling at a flea market. First up, we break down the "take it or leave it"...
Sep 24, 2024•1 hr 14 min•Ep 543•Transcript available on Metacast #542: Ever feel like you're never doing enough with your money, even when your finances look good on paper? You're not alone. Katie Gatti Tassin, host of the Money with Katie podcast, dives into a phenomenon called "money dysmorphia" in todays interview. She shares how she got flooded with responses when she asked her listeners about money dysmorphia. Folks with hefty savings and investments still worry they're not doing enough. It's like they're always waiting for the other shoe to drop. Where ...
Sep 20, 2024•39 min•Ep 542•Transcript available on Metacast #541: Ever wondered if you're making the right choice between a Traditional and Roth 401(k)? You're not alone. In this episode, Katie Gatti Tassin, host of MorningBrews Money with Katie podcast, joins us to tackle this common retirement savings dilemma. We deep-dive into the debate between using Traditional vs. Roth 401(k) accounts for retirement savings, in the context of: Future tax rates Tax complexities for small business owners and high earners Social Security uncertainty Stock-based compen...
Sep 18, 2024•33 min•Ep 541•Transcript available on Metacast Originally aired August 2023: Stanford psychology professor Jamil Zaki shares his research and findings around the science of empathy and how we can apply this to improving our relationships with colleagues, clients, customers, co-founders, and business and investing cohorts. Zaki is the director of the Stanford Social Neuroscience Lab, and the author of The War For Kindness. We'll break down the science. We talk about why empathy matters in business, investments, and in career growth, and well ...
Sep 16, 2024•1 hr 1 min•Transcript available on Metacast #540: What can M&Ms, McDonalds, Harry Potter, Aquafina, Taylor Swift, Jeopardy, and Bed Bath & Beyond teach us about landing a dream job or securing a promotion? Plenty. Imagine you're at a job interview. You've rehearsed your answers, polished your resume, and you're feeling confident. But what if the key to landing that job isn't just about your skills and experience? What if it's about how you make people feel? How you make people feel is your brand, Zane says. That's what Leslie Zane, a Harv...
Sep 13, 2024•1 hr 26 min•Ep 540•Transcript available on Metacast #539: An anonymous caller feels trapped. She owes $100,000 in back taxes on earnings she had to give up as a result of a lawsuit with her former business partner. What should she do? Saul and his wife want to retire in Mexico but they dont want to give up the ability to continue investing in US stocks. Can they buy a primary residence that doubles as a short-term rental? Nina and her partner are eager to start a $500,000 renovation on their home but theyre still three years away from saving enou...
Sep 10, 2024•1 hr 4 min•Ep 539•Transcript available on Metacast #538: The latest jobs report just dropped, and it's a game-changer. Job creation numbers are lower than expected, at 142,000 new jobs in August. This comes on the heels of the biggest downward revision in job numbers since 2009. We're diving deep into what this means for the Federal Reserve's long-anticipated first rate cut. Are we looking at a modest quarter-point cut in interest rates, or a more substantial half-point drop? The Fed's decision could mean the difference between that dream house ...
Sep 06, 2024•38 min•Ep 538•Transcript available on Metacast #537: Frequent contributor Joe Saul-Sehy shares an emotional, personal story of getting into a soul-crushing level of debt in his 20s and early 30s. He owed so much in back taxes to the IRS that he didnt file a tax return for three years. He ran out of gas and was stranded on the side of the highway, with 85 cents remaining in his bank account. By the time he pulled himself out of debt, his twin son and daughter were seven years old. Learn the gripping, gut-wrenching story of Joes past money mis...
Sep 03, 2024•2 hr 31 min•Ep 537•Transcript available on Metacast #536: NYU Psychology Professor Dr. Tessa West has spent nearly two decades studying relationships, including those in the workplace. She talks about her research on why people feel disconnected from their jobs and what to do about it. Dr. West breaks down five main ways people might feel unhappy at work: 1. Crisis of identity: This is when you've poured a lot into your career, but you're starting to question if it's really who you are anymore. 2. Drifting apart: This happens when your job change...
Aug 30, 2024•57 min•Ep 536•Transcript available on Metacast #535: Melissa and her partner are preparing for the best earning years of their lives. Could they benefit from automated tax-loss harvesting and transition from DIY investing to a robo-advisor? An anonymous caller just learned something surprising about their Roth 401k and feels squeamish about making future contributions to this account. Whats Paula and Joes advice? Hampton is following up on a question from Episode 524 to spark an intriguing discussion on the generational tax advantages of a R...
Aug 28, 2024•47 min•Ep 535•Transcript available on Metacast #534: We sit down with David Novak, the co-founder and former CEO of Yum! Brands, the giant parent company behind KFC, Taco Bell, Pizza Hut, and the Habit Burger Grill. David shares stories from his remarkable career, offering insights into leadership, decision-making, and personal growth. We dive into one of Davids most memorable projects: the creation of Crystal Pepsi. David talks about how the idea was born out of a gut instinct when he noticed a trend toward clear beverages. The media buzz w...
Aug 23, 2024•2 hr 40 min•Ep 534•Transcript available on Metacast #533: Kristin is floored by the 60 percent increase in her homeowners insurance this year. Should she cancel the policy and self-insure instead? Susana and her husband are torn. They bought their dream home last year but now need to relocate indefinitely. What should they do with the house? An anonymous caller wants to help his soon-to-be wife invest a five-figure gift she received in another country. How do they untangle the complexities of managing money from abroad? Former financial planner J...
Aug 20, 2024•1 hr 9 min•Ep 533•Transcript available on Metacast #532: Were diving deep into the art of negotiation, especially when it comes to asking for a raise. The episode is broken down into three main parts, each designed to give you practical tools and insights that you can apply right away. First up, setting the stage. Before you even think about negotiating, its crucial to understand the difference between interests and positions. Youll learn why knowing the underlying reasons behind what both you and the other party want is key to finding a win-win...
Aug 17, 2024•1 hr 4 min•Ep 532•Transcript available on Metacast #531: Let's talk about negotiations. You know, those back-and-forth talks where you try to get the best deal possible on a used car, a house, or a couch on Facebook Marketplace? Or when you ask your boss for a raise? Turns out, asking the right questions can be a game-changer. According to Jeff Wetzler, Ed.D., people often hold back information when they're negotiating. They might be worried about looking bad or giving away too much. But if you can get them talking, you can learn a lot. It's lik...
Aug 14, 2024•1 hr 14 min•Ep 531•Transcript available on Metacast #530: We sit down with financial educator Brian Feroldi to dive into the often-overlooked world of stock-based compensation. This form of compensation is becoming more common, especially in large companies, but many employees dont fully understand how to make the most of it. Brian helps break down the basics, explaining what stock-based compensation is and why companies use it to attract and retain employees. We start by discussing why companies offer stock options or restricted stock units (RSU...
Aug 12, 2024•1 hr 1 min•Ep 530•Transcript available on Metacast #529: Anonymous, 60, recently lost her job and is worried about retirement. She owns a paid-off triplex, living in one unit and renting the others for $30,000 a year. She used her 401(k) funds to buy the triplex and now has $50,000 in retirement savings and $150,000 in cash. She expects only $2,400 a month from Social Security at age 67. After losing her son two years ago, she's seeking advice on managing her underfunded retirement. Noelle, 40, and her husband, 49, want to cancel his whole life ...
Aug 06, 2024•1 hr 17 min•Ep 529•Transcript available on Metacast #528: The Federal Reserve recently decided to hold interest rates steady, leading to significant shifts in the stock market. The Dow dropped over 850 points, and the NASDAQ entered correction territory, falling more than 10% from its peak. But what do these numbers mean for you? We break down the latest jobs report, which shows a rise in unemployment to 4.3%, triggering a recession indicator known as the Sahm Rule. This isn't just economic jargon; it affects real lives, impacting job security, i...
Aug 02, 2024•32 min•Ep 528•Transcript available on Metacast #527: Luke and his wife are breaking some personal finance rules in the name of financial independence. Are they right to take this approach or is there a better way? Christina is worried. Shes retired with a paid-off condo in Florida. But rising fees, insurance rates, and a major HOA assessment are killing her cash flow. Is it time to become a renter? Les is surprised by Paula and Joes allocation recommendations for international equities. Based on market capitalization, it makes no sense. What...
Jul 30, 2024•1 hr 1 min•Ep 527•Transcript available on Metacast #526: Recorded LIVE on stage at the Morningstar Conference in Chicago! We chat with behavioral finance professor Meir Statman. He breaks down the differences between standard finance and behavioral finance, making it clear that understanding human behavior is an essential part of investing. Statman starts by explaining that standard finance assumes people are rational. They make decisions purely based on logic and aim to maximize wealth. However, behavioral finance sees people as normal, not alw...
Jul 26, 2024•1 hr 6 min•Ep 526•Transcript available on Metacast #525: We chat with renowned financial advisor Michael Kitces at the Morningstar Investor Conference in Chicago. Kitces answers a big question: Is the economy worse than we think? He explains that a few big companies like Nvidia, Meta, and Alphabet are holding up the S&P 500. But this doesnt mean the economy is bad. It's common for a small group of companies to drive the market. Since its hard to predict which companies will do well, he stresses the need for diversification. Kitces tells us to fo...
Jul 23, 2024•2 hr 43 min•Ep 525•Transcript available on Metacast #524: Mark and his partner will soon inherit an IRA worth over a quarter million dollars. With todays elevated interest rates, would throwing it all at a primary residence be the smartest play? An anonymous caller and his girlfriend are musicians who dream of building a home with a monetizable recording studio. How do they untangle personal wants from business needs? Will feels stumped about the options in his defined benefit pension plan. When should he choose a guaranteed annuity over a lump s...
Jul 19, 2024•1 hr 6 min•Ep 524•Transcript available on Metacast #523: How much is an hour of your time worth? Google's Executive Productivity Advisor , Laura Mae Martin, joins us to answer that question. Learn more about your ad choices. Visit podcastchoices.com/adchoices
Jul 16, 2024•50 min•Ep 523•Transcript available on Metacast #522: Emily Anne is worried about her obsessive tracking behavior. Shes in great financial shape but struggles to shake the constant compulsion to check her accounts. What should she do? An anonymous caller and his partner plan to use geo-arbitrage to retire early before reaching their financial independence number. Can they have their cake and eat it too? Kevin and his wife are having second thoughts about their Delaware Statutory Trust (DST) real estate investments. How do they back out withou...
Jul 12, 2024•1 hr 8 min•Ep 522•Transcript available on Metacast 
