Happy Friday, Stackers! On today’s riveting roundtable discussion, we dive into piggy banks and other outdated financial concepts. Joining us are Paula Pant, the force behind Afford Anything; Doc G of Earn & Invest; and our resident financial planner, OG.
In the second half of the show, sponsored by DepositAccounts.com, we dive deeper into outdated financial advice, concepts, and ideas.
Be sure to stick around for Doug’s sweeeeeeeet Ben & Jerry’s-related trivia question!
Deeper dives with curated links, topics, and discussions are in our newsletter, The 201, available at https://www.StackingBenjamins.com/201
Enjoy!
Watch This Episode On YouTube:
Our Topic:
No more piggy banks (Apex Money)
During our conversation, you’ll hear us mention:
- How to educate kids about money in today’s day and age.
- Stuffing money under the mattress.
- A one-size-fits-all retirement age.
- Making more money makes you happy.
- The role of quality relationships in happiness.
- Building smart financial habits even when not earning much.
- “Money doesn’t lead to happiness, but lack of money leads to unhappiness.”
- How comparison to peers leads to happiness/unhappiness.
- How increased life expectancy affects asset allocation over time.
- Differentiating age vs. timeline when deciding asset allocation.
- The strength of spending and investing habits you develop when you are young.
- Thinking beyond your own lifetime and into leaving a legacy.
- Wealth that is attained through habits vs. wealth given.
- The danger of squandering generational wealth.
- The fallacy that investing is hard.
- VTSAX & chill?
- Using debt instruments as cash or emergency funds.
- Investing in all stocks and holding ample cash reserves.
- The notion that all debt is bad.
- The assumption that college is for everybody.
- Financial trade-offs.
- Ineffective risk tolerance charts.
Our Contributors
A big thanks to our contributors! You can check out more links for our guests below.
Doc G
Another thanks to Doc G for joining our contributors this week! Hear more from Doc G on his show, Earn & Invest podcast at Earn & Invest on Apple Podcasts.
Check out his book Taking Stock: A Hospice Doctor’s Advice on Financial Independence, Building Wealth, and Living a Regret-Free Life.
Paula Pant
Check Out Paula’s site and amazing podcast: AffordAnything.com
Follow Paula on Twitter: @AffordAnything
OG
For more on OG and his firm’s page, click here.
Doug’s Game Show Trivia
- How many new jobs has Ben & Jerry’s supplier Greyston Bakery created under its open hiring business practice?
DepositAccounts
Thanks to DepositAccounts.com for sponsoring Stacking Benjamins. DepositsAccounts.com is the #1 place to go when you’re looking to see if your rate is the BEST rate on savings, CDs, money markets, and even checking accounts! Check out ALL of the rates ranked from best to worst (and see the national averages) at DepositAccounts.com.
Join Us on Monday!
Tune in on Monday when you’ll learn how to budget for the activities that fulfill your heart but don’t make you any money with documentarian Maya Chupkov.
Miss our last show? Check it out here: Pack a Lunch: Len Penzo’s Annual Cost of a Sandwich Study (SB1556).
Written by: Kevin Bailey
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