401k plans, Roth IRAs, Coverdell IRAs, separately managed accounts, and more. What do they have in common? YOU asked about all of these and more on today’s show! Our letters episodes are some of our most downloaded podcasts and today we’ll fill empty the mailbag by answering SEVEN of your questions to the podcast.
In our headline segment we kiss the MyRA goodbye. Why did it fail? While we don’t know the reason for sure, the guys discuss what might have gone wrong and if you were hoping to use the MyRA, what some great alternatives might be. We also talk to Mike Brown from LendEDU about their recent credit cards and millennials survey. Wait until you see what SOME millennials think happens to your credit score when you miss a payment. You’ll be shocked….
We’ll also throw out the Haven Life Line, feature some hair-raising trivia from Doug, and more.
Special thanks to M1Finance and Tiller for sponsoring our show! We couldn’t do any of this without the support of this awesome company.
Why compromise with investments when you can use an intuitive, easy-to-use, robust platform? M1Finance combines the power of automated investing platforms with the flexibility of do-it-yourself but more expensive brokers. Be Invested.
Looking for a better spreadsheet to handle your budgeting needs? Tiller Money automatically downloads your data from the source into fully customizable Google Sheets. You can even download a Stacking Benjamins template designed with help from Joe Saul-Sehy!
- Treasury Announces Steps to Wind Down myRA Program (Treasury.gov)
- LendEDU – Mike Brown interview
- What popular hair growth product, and part of the $225 million hair growth industry, originally started off as medicine for high-blood pressure?
<27:32> Haven Life Line
Need life insurance? You could be insured in 20 minutes or less and build your family’s safety net for the future. Use StackingBenjamins.com/HavenLife to calculate how much you need and apply.
<13:40> Letters From the Mailbag
Need help with your financial plan? Use this link to schedule a meeting with OG: StackingBenjamins.com/OG
- Adrian has a Schwab PCRA available in his 401k plan at work. Is it worth looking into?
- Aaron wants to know how he should be investing his Coverdell account for his children, who he plans to send to private high school. Should his plan be conservative, or have some risk in it being that his kids are young?
- Pat is a naval officer about to retire. Both him and his wife usually max out their Roth, and the kids college funds are taken care of. What’s he supposed to do now?
- Terry’s wedding is approaching. Terry wants to know if we have any suggestions on questions to ask a financial advisor on how the two should start investing into a portfolio.
- Matt is a school teach who recently moved to a new state from Illinois. He has uncertainty about the pension being available when he needs to retire. Should he take the money out of the pension and invest himself?
<> Join us Wednesday
It’s time for Len Penzo’s yearly sandwich survey. If you’ve listen to the survey in the past, you know this is a rockingly fun interview that you don’t want to miss.
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