I've had today's show in my head for the last few weeks as I've watched Hollywood--and the world--rocked day by day with allegation after allegation of sexual abuse by major, major stars.
I've watched careers destroyed, movie premiers canceled, and marriages torn asunder.
I've thought again and again about the financial destruction being wrought by these allegations against so many men. Not only the loss of careers, the mega-million-dollar settlements, but the financial destruction of forthcoming divorces and the emotional distress leading to lost productivity.
To me, it seemed like an important topic to discuss with regard to finances.
But I held back, because I felt as though I would be picking on ideological opponents when they're down and I don't want to be one who rejoices in another's time of distress.
When the allegations came out via the Washington Post against Judge Roy Moore in Alabama, I felt I couldn't stay silent any longer.
And so, today, here are my...
I'm working on some back-office work this week and hustling to finish delivering the Radical Personal Finance Guide to Career and Income Planning before the Thanksgiving holiday, so today you get an "Out & About" interview!
This episode was released as Episode 37 of the Masters of Money Podcast on August 30, 2017. https://ptmoney.com/masters-money/
Today's show is very special. Together, we celebrate 500 episodes together! The show is centered on your voices and your feedback.
This is a very meaningful milestone for me. When I began RPF, I committed myself to recording 1,000 episodes, even if no one listened. 4 years later, I'm half finished with that commitment! And I'm so honored that thousands of you do listen. Your feedback in this episode is so encouraging to me.
Lots of people wind up living in their cars out of extreme financial stress. But today, I'm going to share with you a few of my strategies for living in your car for fun.
I've never lived in my car for a long period of time, but I have done it for up to two weeks. And, living (or more accurately staying/camping?) in your car can be:
You should seriously consider it. And I'm here today to tell you why and how to do it well.
I recently took a friend of mine (who is super broke) through a grocery store and shared with him some of my strategies to fill your tummy when you're flat broke.
This should help you save some cash...or at least help you teach someone else who's hungry how to eat cheap.
Today, we handle this interesting question from a listener:
"In talking about Samaritan to a pastor-friend he threw out the scenario that your middle school age son is injured in an accident while riding in a friend's car, and the police find marijuana in the car--what happens?
When I asked a Samaritan rep about it he said their board would carefully review the situation and if they deemed that your son wasn't responsible for/aware of the pot then his injury would be covered; if he was responsible/aware then he would not be covered.
While my kids are all under 8 right now and this scenario is a ways off as a possibility for us, I'm concerned that when they reach middle/high school age I may need to look into alternatives for a couple reasons: (1) I'm not fully convinced of an investigatory board's ability to discern for sure in such a scenario what was going on and (2) while I'm teaching my kids to obey their parents and the civil authorities, they are still sinners and, growing up...
Fun question today for our Friday episode...comes in from Chris:
Looking to see if you have any insight on emotional/psychological decisions versus logical decisions when it comes to finance.
Back story -
I have a paid for 20 year old Harley. I have not ridden it in three years, I spend $200/year on an insurance policy, each spring I do maintenance on it which costs about $30, and living in Minnesota, we only really have 6 months or so of decent riding weather. I have a big garage so storage is not an issue, apart from each winter when I have to move it around in and tell myself I'll sell it in the spring.
I can make the logical argument to myself that I need to sell this. It is a depreciating asset, costs money to maintain and insure, and it really brings no value to my life.
However, I can not bring myself to sell it. I have no pressing financial obligations so the $5-6k that I would get from selling it would really not do much to improve my life. About the only thing...