What debt traps have caught you? Here are some to avoid!
Happy Monday! On today’s show, Jason Hull from Hull Financial Planning joins the roundtable fun. They’re talking about debt….specifically, how to avoid the biggest debt traps. Joe & OG also share some headlines about nightmare tax returns and commission-based advisors.
Should you shun commission-only advisors? One advisor says if she switched to fees she’d make more money, but her clients would be worse off.
It’s all that, Doug’s trivia, a great movie review, and more!
SHOW NOTES
<Open> Questions/Letters? Send them to joe at stacking benjamins cot com!
<1:34> StackingBenjamins.com/Amazon
<3:06> American Pilots living abroad. Expats still have to file a foreign tax return
“Am I not supposed to get paid this month?” OG
“Find your top 150 relationships and charge them a fee to be your financial planner.” 11:00
“Commission advisors have the highest rate of people implementing their advise”
<15:00> Roundtable
Len Penzo- Find his most recent post at LenPenzo.com
Jason Hull- Find his most recent post at Hullfinancialplanning.com
Greg McFarlane- Find Greg at his website controlyourcash.com
“No, I think most Americans know inflation is out there already,” – Len
“Most people don’t think about inflation until it’s too late,” – Greg
“People who are in credit card debt realize how stupid it is,” – Greg
“If you’re going to be an engineer, then student load debt is justified,” – Jason
“If you marry a totally financially irresponsible person, you could be in a whole world of hurt,” – Len
“Buying too much house isn’t great, but it’s an asset,” – Greg
“If all the doom and bloomers were right we would be living in bomb shelters right now,” – Jason
< 39:50 > Letters
“Contact the credit companies, the worst they can do is say no,” – OG
< 49:50 > End/Movies
Average Joe reviews 22 Jump Street
I just recently watched 21 Jump Street on DVD and I was surprised at how funny it was. The car chase scene cracked me up because it made fun of your typical car chase scenes. I’ll probably wait for 22 Jump Street to come out on DVD. I really want to see the Apes movie though!
I waited to comment, Tonya, because I was seeing Apes today. It was intense. VERY intense from start to finish. Good film (and in this crappy climate for movies, one of the best I’ve seen this summer).
“People who are in credit card debt realize how stupid it is,” that’s why I’m not a big fan of credit card before, owning a credit card has lots of advantages too. Being a responsible credit card holder is very important and maintaining a credit score too.
I agree, Clarisse, but I also agree with someone in a recent conversation….is our “credit rating” SO IMPORTANT because credit card companies want it to be? You’ll use your credit only a few times during your life, but we emphasize that WAY more than we do saving money…..