If you’re wondering how the inside world of high-end real estate works, our guest today will share stories. Kirsten Jordan is the newest cast member of popular Bravo reality series Million Dollar Listing: New York. She’s a real estate broker who’s overseen over $500M in sales, so if anyone knows how to sell real estate, it’s her. Today she’ll talk about the price of mentorship, staging homes, leaving people feeling good vs trying to scoop up every dollar, and realizing that not all financial purchases can be whittled to numbers on a spreadsheet.
Are you receiving misleading, inaccurate data from your financial advisors? Riskalyze CEO Aaron Klein says his company, which provides data advisors use for their clients, is superior to another company’s inaccurate information. Is Klein speaking the truth, or is there something more at play here? Thankfully, OG has extensive experience with both systems and breaks down what really matters here – and it’s not type of graphs you’re using.
Of course, because it’s Monday, we have to share a new TikTok video of the week. The fun this go-round? How about some guy who made all the wrong decision – maxing our credit cards, investing all of his spare cash and savings, and consolidating all of his previously diverse stocks into a single position – and still somehow struck gold… Sounds like a lucky dream? Only if Mr. Diamond-Hands chose to cash out.
We also share some news that proves we were wrong and couldn’t be happier about it. Like many people, we wrongly assumed the stimulus money would go to electronics, games, and new smart TVs. While that did happen, a LOT more money than we expected flowed into stocks. While not our favorite choice, cash also made its way into cryptocurrencies (as today’s TikTok shows). It’s good news, but we play Devil’s Advocate a bit too: could some minor market events scare of a new generation of investors out the market? Has investing become to gamified with the rise of easy-to-invest apps? We discuss that and more during our second headline.
Our Haven Life Line finishes today’s show: Elle’s advisor wants her father to rollover his 401k to an IRA. Hypothetically, this would let Elle use a Stretch IRA when she receives her inheritance. Only problem? The Secure Act of 2019 killed the Stretch IRA. Plus, Elle’s father has company stock in his 401k and messing with that comes with big tax savings considerations. (You’ll hear one of our hosts tell you this is turn around and find another advisor level of a mess-up). More on that during the show.
Of course, we always make some time for Doug’s trivia. Enjoy!
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Talking Real Money
Co-hosts Don McDonald and Tom Cock deliver straight forward, honest, advice on building the wealth you need for a more secure future. You can listen in wherever you listen to podcasts, or at TalkingRealMoney.com.
- Riskalyze tears into Orion’s HiddenLevers over predictive modeling (InvestmentNews)
- Americans Can’t Get Enough of the Stock Market (WSJ)
A big thanks to Kirsten Jordan for talking real estate, mentorship, and negotiation with us today! You can find more from Kirsten at her site KirstenJordan.com, on Bravo’s Million Dollar Listing New York, and on her Youtube channel which you can find below:
- What baking related phrase is typically attributed to companies who are playing games with their financial records?
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.
- Should Elle’s father rollover his 401k to an IRA? We share why that’s a possibly bad idea if you hold a lot of company stock, and also why you should RUN from any advisor giving you years old advice.
Written by: Richie Rutter-Reese
Miss our last show? We forgive you, you can listen in here: Money, Secrets, and Lies (plus a peek into Clarity Money/Marcus Insights)