In Episode 616, I argued the point that if missing one paycheck is a problem for you, you're behaving stupidly. My guest on today's show took umbrage with my commentary on Twitter. So invited her on to discuss!
Chris Moody and I have both spent the last 6 months traveling the width and breadth of the United States with an eye toward understanding the current moment. In this podcast, we discuss our findings.
1:45 - How can I give nice gift to people who are poorer than I am without creating a power imbalance?
15:20 - Can I contribute my salary into a 401(k) plan for my wife in order to maximize our retirement account contributions?
28:05 - How can I protect my non-qualified investment accounts that are exposed to the claims of creditors?
44:30 - I don't "need" term life insurance because I'm financially independent. Should I still buy some?
51:00 - I'm following Dave Ramsey's baby steps and am almost out of debt; should I store up my emergency fund in a Roth IRA?
56:00 - I want to buy an investment that will pay for my new car instead of just burning all my cash on the car. How do I do that?
(For the context of any time-relevant comments relating to current events, this Q&A was recorded on 12/19/2018.)
Stop behaving stupidly with your money.
Today, I share my advice for young men on how they can find an excellent wife. In short, you must become an excellent man. That's the task. Here are some ideas on how.
2:00 - Should we pay off our mortgage or invest?
9:50 - Should I put more money into one of my child's 529 plans in order to help them on their financial aid calculations?
18:30 - Should a retiree in her 60s pay 1.7% as a financial planning fee?
47:20 - How should we unravel the tax situation for a house that I live in but don't own?
1:13:00 - What college financial planning organization should I choose?
1:30-Should I dollar cost average into my Roth IRA or wait for a market downturn?
6:00-How can I get money to my child so they can make a Roth IRA contribution?
21:30-Can I do good asset protection by transferring all my money into a secret Bitcoin wallet that's kept completely offline?
34:00-Can I become a financial planner without pursuing it full-time?
2:45 - If you move from one state to another, do you have to start all over with your asset protection plan?
15:30 - How frequently does a state change its laws that relate to asset protection planning?
21:30 - What is the interplay between Federal regulations and State regulations?
23:35 - Is a 403(b) protected the same as a 401(k)?
25:30 - How have Joshua’s views on education changed in the last four years?
36:30 - What specific inspirational resources would Joshua recommend on the topic of education?
43:20 - How do you set financial priorities when you’re expecting a baby?
51:15 - How do you plan when you have a highly fluctuating income?
1:00:15 - How do you balance having a stockpile of cash while looking at big personal lifestyle expenses?
1:04:35 - Is Patreon a good option to monetize your website?
1:24:00 - Should our company add a Health Savings Account or Christian Healthcare Sharing Ministry option to our health plan?