Today we sit down with Rob Berger, host of the Dough Roller podcast and author of Retire Before Mom & Dad about the five lies we all are told about money. Because we fall into these traps, we’re duped to live a life on the hamster wheel, working harder and harder, but getting nowhere. Today we’ll talk about debt, investing, insurances, advisors and more, so that you can take charge of your finances.
Plus, during our headlines segment we’ll cover one piece from Financial Planning about an ex advisor who is off to prison for duping his clients with a Ponzi scheme. What did he do wrong? We’ll share. We’ll also jump into some big news from the IRS. One product’s tax treatment with regard to advisor’s fees is changing. That may change the way advisors…and YOU view that particular tool.
And after we take some time for some of Doug’s french fry themed trivia we’ll take a voicemail from Jason during our Haven Life Line. Jason wants to know our thoughts about funds and strategies that will deliver the highest risk-adjusted return. Should he be 100% equities with his money or something safer?
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Show Notes:
Grammarly
Thanks to Grammarly for supporting Stacking Benjamins. Get 20% off a Grammarly premium account, go to Grammarly.com/sb.
<> Headlines
- Ex-rep sentenced, daughter indicted as victims detail $11M Ponzi scam (Financial Planning)
- IRS delivers ‘game changer’ for fee-based annuities (InvestmentNews)
<> Rob Berger
Want to check out Rob’s blog and podcast? Click here: DoughRoller.net
You can pre-order Rob’s book, Retire Before Mom and Dad, by clicking below:
<> Doug’s Trivia
- What is the number one rated restaurant French fry?
<> Haven Life Line
- Jason wants to know our thoughts on an assert allocation that will give the highest risk-adjusted return.
Want the guys to answer your question? You can call into the Haven Life Line and get your question answered on-air HERE.
Join us Wednesday!
We’re rolling our annual sandwich survey episode with Len Penzo!
I think Rob hints at it when he talked about the “joy” list, but FI has more in common with Buddhism and Stoicism in that your here and now is when you should be finding happiness. The future wealth is an abstract entity that some think will bring happiness. The trip to the Bahamas, fancy car and big house are nice at first but the happiness wears off. But waking up and going for a morning walk is happiness that you can always tap into. So is spending time with your family or doing your hobby.
Agreed. I tire of “I’ll be happy when I reach retirement/that goal/another goal.” No you won’t. You’ll still emotionally be the same you, but with more time/stuff/opportunity.