494-Planning for Wildfires

Erin writes in and says: "I love listening to your podcast- I know you've had a few episodes recently in reaction to current events. As a resident of the Bay Area I hope you could do an episode in relation to wild fires (if there isn't a past episode I am overlooking)."

Erin et al, here are my suggestions for you!

Joshua

 

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493-Should I Sell My Harley and Buy Some More Mutual Funds?

Fun question today for our Friday episode...comes in from Chris:

Joshua,

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...

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492-Choose Your Hammer Carefully and Stop Beating Up Others for Preferring a Different Hammer

I thought about simply calling today's show, "On Hammers."

You pick the title you prefer...but recognize the truth: tools are tools and their usefulness depends not on their inherent attributes but on their appropriate application.

Joshua

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491-Q&A: More Money Into Retirement or Buy a House, Can I Use a Donor-Advised Fund for Church Contributions, Should I Move From Commission-Based Job to Salary-Based Job, Should I Keep an India-Based Whole Life Insurance Policy?

Today's show rounds out a special series of live Q&A shows. Today we cover:

  • 1:20 Should I put more money into my retirement plan or buy a house?
  • 18:45 Can I use a donor-advised fund as a smart way to get a bigger tax deduction for my contribution to my local church?
  • 32:30 Should I move from a commission-based job to a salary job which also means a salary cut?
  • 39:10 Should I buy a joint universal life insurance policy to protect my new baby?
  • 1:10:00 Should I keep an India-based whole life insurance policy now that I'm a US resident?

Enjoy the show!

Joshua

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490-Q&A: Paying for a Seminary Degree with Early Distributions from a Retirement Account, Can I Still Become Financially Indpendent if We Move to Paradise First, Should We Sell Our Rental House or Move Back for Tax-Free Gains, Are Healthcare Sharing Minis

I've been doing a live Q&A series...today we cover these:

  • 1:24 - Can I Pay for My Seminary Degree with Early Distributions from a Retirement Account?
  • 13:30 - Can I Still Become Financially Independent if We Move to Paradise First?
  • 25:45 - Should We Sell our Rental House Two States Away or Plan to Move Back to It In Order to Get the Tax-Free Gains on a Future Sale?
  • 37:45 - Are Healthcare Sharing Ministries Like Samaritan Ministries Any Good?

Joshua

 

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489-Lessons From Las Vegas: A Few Practical Ways You Can Prepare For Being Involved in an Active Shooter Scenario

As we all watch and process the mass shooting in Las Vegas this weekend, I thought it would be appropriate to share a few lessons learned.

I always try to process an event like this with an eye towards the lessons I can learn.

The tactical situation in Las Vegas was impossible. I don't think you could imagine a worse situation to be in as a concert-goer. An absolute nightmare.

But, I do have a few thoughts that I think can help. And since I don't hear anyone sharing anything practical, here are my suggestions.

If you have additional practical, actionable ideas, I'd love to hear them.

Joshua

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488-Q&A: What Should I Do With a Large Bonus, How Can I Counsel a Young Lady Who Is Using Her Earnings to Support Her Poor Mother

I'm hosting a special Q&A series this week which is open to the entire listening audience.

Today we tackle:

  • What Should I Do With a Large Bonus?
  • How Can I Counsel a Young Lady Who Is Using Her Earnings to Support Her Poor Mother?

If you'd like to call in for tomorrow's show, here are the details you need to know.

Joshua

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487-Friday Q&A: Should I Use a Whole Life Insurance Policy as My Retirement Bridge, Should I Concentrate All of My Investment Accounts With One Manager

On Friday's, we do Q&A for our Patrons! Today, we cover:

  • Should I Use a Whole Life Insurance Policy as My Retirement Bridge?
  • Should I Concentrate All of My Investment Accounts With One Manager?

Joshua

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486-Ignore the Republicans...What Do You Think Is the Right Approach To Income Taxation and Why?

I feel like I owe it to you to keep you semi-current on the state of tax policy in the USA. But, it's too early to have any serious details about the current Republican proposals.

I thought instead we could have a useful philosophical discussion about taxation. My challenge to you today is to answer these questions, for yourself.

  • Do you believe that a civil government has the moral right to tax an individual's income? Why or why not?
    • Do you believe that the US civil government has the constitutional right to tax an individual's income?
  • If you believe that a civil government does have this right, how much of a person's income can they claim? What's the right number and how would you know?
  • Do you believe that everyone should be required to pay income taxes?
  • Do you believe that some people should be treated differently than others and so be ordered to pay a different rate of income tax than others? Why or why not?
    • If so, how would we determine who should be treated differently...
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484-How Should I Handle a Sizable Gift From My In-Laws?

Today's question involves a generous financial gift from an in-law. How should this listener handle it to make sure it's a blessing and not a curse?

Joshua

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