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Your REAL personal finance questions answered by CERTIFIED FINANCIAL PLANNER™ professionals, Scott Frank and James Conole. 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. James and Scott 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.
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Real Personal Finance
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089 - Is it Possible to Overfund Retirement?
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19:23
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In this episode James and Scott discuss whether or not it's possible to overfund retirement, and what you can do to avoid doing so. Questions discussed: How much is enough when it comes to funding for retirement? When can I stop funding for retirement? What is the best approach for my individual situation? Planning Points Discussed Tax Planning Ret…
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Real Personal Finance
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088 - Is an MBA Worth it? And How to Prepare Financially?
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14:12
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In this episode James and Scott discuss whether or not an MBA is worth it and how best to prepare financially. Questions discussed: Is an MBA worth it? What's the best way to prepare financially for an MBA? What are the benefits of an MBA? What do I want my MBA to do for me? Planning Points Discussed Personal Development Portfolio Management Aligni…
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087 - Investing a Lump Sum vs Dollar Cost Averaging - Which is Better?
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16:35
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In this episode James and Scott discuss whether or not you should invest all at once (lump-sum) or invest smaller amounts over a period of time (dollar-cost average). Questions discussed: Should I invest when the market is at all-time highs? When is the best time to invest? What is the best approach for my individual situation? Articles Mentioned: …
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086 - Should I Apply Extra Cash to a Mortgage Refinance or Invest It?
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18:32
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In this episode James and Scott discuss whether or not you should apply extra cash to paying down the mortgage. Questions discussed: What should I do with extra cash? Should I apply extra cash to my mortgage or should I invest the cash? Is paying down the principal of my mortgage the most wise use of extra cash? How does paying down my mortgage imp…
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Real Personal Finance
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085 - GameStop, AMC & More - How to Think About Hot Stocks as an Investor
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20:42
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In this episode James and Scott discuss Gamestop Stock, AMC, Reddit, Hedge Funds, and how to think about "hot" stocks as an investor. Questions discussed: Should I invest in GameStop, AMC, etc.? When do I know it's best to buy or sell? What does the halt of trading in Robinhood mean for the financial services industry? How much of my portfolio shou…
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Real Personal Finance
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084 - How Should You Know When to Use a Roth IRA vs Traditional IRA?
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20:10
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In this episode James and Scott discuss the difference between a Traditional IRA & Roth IRA and which may be ideal for you based on your individual situation. Questions discussed: Are you hoping to lower your taxable income today? Do you think your income will rise over the course of your lifetime? When does it make most sense to use a Roth IRA vs.…
Scott and James discuss 4 things you can do to invest in your personal and financial growth and outline the steps involved to reach them. Planning Points Discussed Retirement Planning Utilizing Time Efficiently Capital Appreciation Purchasing Power Other issues (IRAs, Inflation, Financial Goals, etc.) Timestamps: 3:35 - Investing: Time Horizon 5:54…
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082 - What is a Sustainable Withdrawal Rate?
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22:31
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What is a sustainable withdrawal rate in retirement? To put it in simple terms, it depends. Today we explain where the 4% withdrawal rate comes from and how it may apply to you and your ability to retire without worry. From new investors to those more well-seasoned, we discuss which factors you should consider when deciding what withdrawal rate wil…
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Real Personal Finance
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081 - What Should I Do When I Receive a Windfall?
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In this episode of the podcast, we have a listener question: I am about to come into a decent sum of money from selling a rental property. I’m 30 years old, invest 22 percent into my 401k (that has a balance of 45k currently). My plan was to invest this money in a total market index fund and an international index fund. Is this my best option? I al…
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Real Personal Finance
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080 - What Tax Investment Strategies Should I Be Aware of When Selling Stock Options
25:38
25:38
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In this episode of the podcast, we have a listener question: Just heard your podcast on the target date funds and really appreciate the insight as I'd just rebalanced my 401k and pulled out of them because of the fees and my level of attention to my portfolio. From a financial management perspective, I'm a DIY-er with a blend of Boglehead and FIRE,…
In this episode James and Scott discuss their thoughts on how they implement change in both their personal and financial lives. It’s well known that just because something is simple doesn’t mean it will be easy. There are four questions to ask yourself when it comes to achieving your goals, both personally and financially. 1) What can you do? 2) Ho…
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078 - How Should You Diversify the Bond Part of Your Portfolio?
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21:58
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In this podcast episode, we have a listener question: Since interest rates are so low and the bond market is so much bigger than the equity market, what are a good mix of bonds for a portfolio with a lot of bonds? Should it only be high quality corporate or should it be some TIPS, CMO, or anything else? There are a lot of options for bonds. Plannin…
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077 - Learn How "Asset Location" Can Lower Your Tax Bill
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In this podcast episode, we have a listener question: I just recently found your podcast when I was looking for some info on mega-backdoor roths. Thanks for all the info, you guys really are a wealth of knowledge. In an older episode, where you guys were talking about asset locations, one of you mentioned that if you have dividend-paying stocks, yo…
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Real Personal Finance
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076 - Financial Planning Issues to Consider Before Year-End
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In this week’s episode of Real Personal Finance, James and Scott discuss end of year tax planning. As the year comes to an end, we want to make sure your income and investments are in order. Whether you had a year of financial gain or financial loss we help you use that to your advantage, no matter your tax bracket. Time Stamps: 00:28 - Year-end ta…
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075 - What's the Best Way to Fund Large Purchases in Retirement?
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18:56
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In this podcast episode, we have a listener question: Husband/wife (70/69) both retired intending to down size. Debt free. Retirement assets are 1.7 mil (1.3 mil traditional ira/400 k Roth IRA). Monthly income before taxes (social security and pensions) is $7500. New home cost estimated at $400 k. Existing home to be sold after building new home ex…
In this episode James and Scott discuss their thoughts on Bitcoin and whether or not it belongs in your investment portfolio. They discuss: Traditional asset classes Alternative asset classes Risk vs growth potential Potential inflation hedges Considerations when adding new assets to your portfolio. LET'S CONNECT! James Facebook LinkedIn Website Sc…
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073 - Better Investor Series: How to Tilt Your Portfolio to Increase Your Odds of Success
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20:54
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In the third episode of the Better Investor Series James and Scott discuss ways you invest your portfolio for better potential long-term growth. Listen in as they discuss what parts of the stock market have historically demonstrated higher returns than others. Timestamps [2:35] Different types of stocks and bonds - which do you tilt toward? [3:12] …
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072 - Better Investor Series: Understanding Asset Allocation
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29:22
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In this episode, we dive deeper into three ways on how you should think about framing asset allocation; your ability to take risks, your willingness to take risks, and your need to take risks. Listen in to learn the fundamentals that should drive your investment decisions. Timestamps: What is asset allocation [0:30] The four factors in your ability…
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071 - Better Investor Series: 10 Steps to Investment Success
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26:08
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In this episode, we explain the principles you need to understand and apply for your investment success. They are simple principles but not always obvious. It is important to understand these frameworks based on economic research to improve your chances of investment success. Timestamps: How to understand economic frameworks that help you build fin…
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070 - How Should You Invest in an Election Year?
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15:49
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We are in the election year and you’re probably wondering whether you should make changes to your portfolio, right? In this episode, we talk about election years and how they affect the market and your investment choices. Timestamps: The difference between market statistics history during the election and non-election years [1:31] Reasons why capit…
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069 - Should You Use a Target Date Fund In Your 401(k) Plan?
16:39
16:39
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Is a Target Date Fund right for you? To put it in simple terms, it depends. Today we explain what the appropriate course of action is when approaching a Target Date Fund. From new investors to those more well-seasoned, we discuss what factors you should consider when deciding if you should use a Target Date Fund or select your own investment mix. T…
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068 - What is Mega Back Door Roth Contribution and Who Can Do It?
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20:09
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What do you do when you have fully maxed out your 401k contributions? This is where the Mega Backdoor Roth contributions may come into play. In this episode, we explain the mechanics behind a Mega Backdoor Roth contribution and how to approach this move strategically so you never have to pay taxes on that contribution again. Time Stamps: Introducti…
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067 - What's the Best Investment Strategy for a 5-7 Year Timeframe?
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18:44
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Today we answer questions from a listener on where to save your money in a 5-year span. From the stock market to the bond market we lay out what the probability of return is from daily to yearly and define what it means to be resilient when it comes to financial planning. Introduction - 00:10 Listener question - 00:25 How much of a gamble are you w…
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066 - How to Teach Kids About Money Basics?
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20:46
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065 - How to Navigate Open Enrollment: I Hope You Have It
15:16
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15:16
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064 - How to Navigate Open Enrollment: Stock Compensation
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19:57
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063 - How to Navigate Open Enrollment: Health Insurance
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Property Taxes Closing Costs Earnest Money Paying for the Escrow Homeowner's Insurance Other Taxes Interest Rates Moving Costs Utilities Home Maintenance & Repairs 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 r…
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061 - What do I do With My Emergency Fund with Interest Rates So Low?
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18:32
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High Yield Savings Account Certificate of Deposit (CD) Checking or Savings Account Taxable Investment Account Roth 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 wa…
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60 - What Tax-Efficient Investment Strategies Exist After I Max My 401(k)?
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What % of income are you saving to your retirement accounts? Where to put extra $ If not fully funding retirement .... After tax contributions to 401ks Mega-backdoor Roths Backdoor Roths HSA accounts Side Income Solo 401k Taxable account If fully funding retirement Other Goals Home Purchase - Savings Account College Savings - 529 Taxable Investment…
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059 - What Do I Do After a Parent Passes Away?
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25:21
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Cash Flow Estate Settlement Insurance Taxes Investments & Assets Other Issues 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…
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Real Personal Finance
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058 - Everything You Need to Know About 529 Plans
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21:53
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Who's who on a 529? Who is the best grantor? Which 529 should I choose? Incentive to invest in the in-state plan? Incentive to invest anywhere? No Incentive See what your state offers here How do you invest? Age-based Static risk-based Gifting to the account LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHO…
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Real Personal Finance
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057 - What Questions Should I Ask When Hiring a Financial Planner?
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What kind of advisor do you want? How are they compensated? What services to they provide? What types of clients to they work with? Are they a fiduciary .... ALL THE TIME? Disciplinary record with the SEC or FINRA? How will they help you reach your financial goals? What happens to your relationship with the firm is something happens to your advisor…
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056 - What Is The Value of Working With a Real Financial Planner?
24:48
24:48
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Professional Expertise Convenience Coaching Values Alignment 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…
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055 - Midyear Check Up: What To Look For In Your Insurance Policies
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Health Insurance Life Insurance Disability Insurance Long-Term Care 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…
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054 - LLC vs Sole Proprietorship: Which is Right For Your New Business?
18:47
18:47
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Forming your company Capital Funding Tax Issues Personal Liability 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…
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053 - Should You Invest In Bonds with Interest Rates so Low?
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Not all bonds are created equal Bond act as a ballast in your portfolio They provide fund to rebalance when the stock market is on sale 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…
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052 - What Are the Most Important Accounts to Save to First?
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Foundational Savings Healthcare Savings Retirement Savings Employer Benefits & Business Owner Savings College Savings and other accounts for kids Insurance? Other accounts 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…
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051 - What Issues Should I Consider When Buying a Home?
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Cashflow Mortgage Downpayment & Closing Tax Planning Estate Planning Other 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…
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050 - How Coronavirus Will Impact Future Social Security Benefits
22:18
22:18
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Impact of Covid on Social Security - Wharton Article How will you fix Social Security? Social Security Reformer 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…
Balance Sheet Spreadsheet 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
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048 - What Financial Issues Do I Need to Know if I Lose My Job?
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What should I think about if I lose my job? Cash flow Health Insurance Assets & Debts Tax Planning Career Planning 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…
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047 - Things You Didn't Know About Roth IRAs
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What is a Roth IRA? How can I contribute? Contributions available for withdrawal at any time 5 Year Rule From account opening Roth Conversions Beneficiaries Backdoor Roth Conversions No Required Minimum Distributions Spousal Roth IRAs Kid Roth IRAs LET'S CONNECT! James Facebook LinkedIn Website Scott Facebook Twitter Website ENJOY THE SHOW? Don’t m…
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046 - 5 Steps to Take When the Market Tanks
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23:07
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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. Ha…
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…
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 …
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042 - College Savings Options When College Isn't Far Away
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041 - How the $2 Trillion CARES Act Will Impact You
29:22
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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 …
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040 - Financial (and other) Resources for those impacted by Cornavirus
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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? Su…
