Support The Podcast & Join The Conversation On Our Private Discord Chat: https://www.patreon.com/averagemoneyThe Beginners Guide To Trading Options!! https://averagemoney.teachable.comVoice Mail Link: https://www.speakpipe.com/AverageMoney?fbclid=IwAR1N1H5y33uqAf2GoL4ob6glEHzLMxU14Sy6Uhw0YbGyj30E84YvLhrUcl8Full Video Of This Episode On Our YouTube Channel! https://www.youtube.com/channel/UCouWgQ9TLXsSkZ32lSZhDmg

Support The Podcast & Join The Conversation On Our Private Discord Chat: https://www.patreon.com/averagemoneyThe Beginners Guide To Trading Options!! https://averagemoney.teachable.comVoice Mail Link: https://www.speakpipe.com/AverageMoney?fbclid=IwAR1N1H5y33uqAf2GoL4ob6glEHzLMxU14Sy6Uhw0YbGyj30E84YvLhrUcl8Full Video Of This Episode On Our YouTube Channel! https://www.youtube.com/channel/UCouWgQ9TLXsSkZ32lSZhDmg

Support The Podcast & Join The Conversation On Our Private Discord Chat: https://www.patreon.com/averagemoneyThe Beginners Guide To Trading Options!! https://averagemoney.teachable.comVoice Mail Link: https://www.speakpipe.com/AverageMoney?fbclid=IwAR1N1H5y33uqAf2GoL4ob6glEHzLMxU14Sy6Uhw0YbGyj30E84YvLhrUcl8Full Video Of This Episode On Our YouTube Channel! https://www.youtube.com/channel/UCouWgQ9TLXsSkZ32lSZhDmgOver the past 5 years the Stock Market has been a roller coaster of emotions. At this point, we pretty much feel as though we have seen everything that the Stock Market has to throw at us. But here's the thing, we are prepared for everything that the Stock Market has to throw at us. That isn't the case for everyone. There are so many new investors out there that we feel have a misrepresentation and false expectation of what the reality of the situation is. Maybe this is the new normal, but we doubt it.

This is made worse by the fact that we are content creators. We have been being fighting a moral dilemma about the content we produce and the manipulation of YouTube on us, not as viewers, but as creators. Everywhere you look on YouTube there are stock channels pumping penny stocks and yolo options plays and we aren't pointing fingers at anyone but ourselves. Our biggest fear is that the new investor will enter this market with some expectation of return and we have a correction in the market. Now this new investor thinks that this is gambling, they have a bad taste in their mouths, and they never return to investing again.

In this episode, we will give a behind the scenes look at how we feel about the stock market now in 2021 and how our personal investing decisions and our YouTube investing decisions totally differ. We want beginner and veteran investors alike to know where we stand on investing, the market, and YouTube as well. 

We hope you enjoy!Cheers

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As young adults, we always hear SAVE MORE and INVEST NOW! Although this statement is true and great advice, there still needs to be a balance.  Sometimes, we get so caught up in trying to get ahead financially that we forget that it is ok to live a little. In today's episode, we talk about an amazing question from Trevor. Trevor asks about short term gratification and living life to the fullest vs growing net worth as fast as possible. Trevor is debt free, 22 years old, and has a net worth approaching $400k. Although he is doing so well with money, he is finding it hard to find the right time to spend a little bit of his money and enjoy it!

We discuss things we have done and wish they would have done as a younger adult. We both agree that we would make some changes, but still talk about the importance of saving money and setting yourself up financially FIRST. You have to enjoy life while you are here and there are ways you can do so without going thousands of dollars into credit card debt or spending all of your money on materialistic items.Thank you so much for your question Trevor!Cheers

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In this episode we break down Dave Ramsey's 7 Baby Steps. Who is Dave Ramsey? Dave Ramsey is a personal money management expert, podcast host, and author with over 11 Million copies of his books sold. By his mid 20's he had built a multimillion dollar real estate portfolio, all to lose it all and file for bankruptcy by age 30. 

He is the creator of Financial Peace University (FPU), a program that helps people pay off their debt as quickly as possible, take control of their personal finance, and learn to live a life based founded on commitment and accountability.

In FPU, Dave lays out the 7 Baby Steps. He claims that it will "show you how to save for emergencies, pay off all your debt for good, and build wealth." Baby Step 1 is to save $1,000 for a starter emergency fund. Baby Step 2 is to pay off all your debt (except the house) as fast as possible using the Debt Snowball Method. Step 3 is to buy a 3-6 month fully funded emergency fund. Step 4 is to invest 15% of your house hold income into retirement savings. Step 5 says to save for your child's college education. Dave wants you to pay off your house early in Baby Step 6 and "live and give like no one else" in Baby Step 7 by growing wealth. Brad and JJ both have experience with the 7 Baby Steps. In this episode we break down the 7 Baby Steps.Cheers.

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Full Video Of This Episode On Our YouTube Channel! https://www.youtube.com/channel/UCouWgQ9TLXsSkZ32lSZhDmgRecorded Saturday January SecondThis question comes in from Jacob. Jacob wanted to know how we utilize and employ trailing stop limits as well as limit orders on our stock purchases, and options trades. What is a stop loss?A stop-loss order is an order placed with a broker to buy or sell a security when it reaches a certain price. Stop-loss orders are designed to limit an investor’s loss on a position in a security and are different from stop limit orders. When a stock falls below the stop price the order becomes a and it executes at the next available price. For example, a trader may buy a stock and places a stop-loss order 10% below the purchase price. Should the stock drop, the stop-loss order would be activated, and the stock would be sold as a market order.

Thanks so much for your question JacobCheers!

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Full Video Of This Episode On Our YouTube Channel! https://www.youtube.com/channel/UCouWgQ9TLXsSkZ32lSZhDmgRecorded Saturday January SecondDo you think you could narrow down your favorite stocks down to a list of only 5? In this video we both made a list of our favorite stocks to buy and hold forever. This included some dividend stocks and some growth stocks as well. 

Before recording, we did not discuss our list with each others and some of our picks surprised the heck out of each other. This was a fun episode to record for sure and we think you will be able to hear that joy in our voices. We hope you enjoy listening as much as we enjoyed making it!

Cheers

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Full Video Of This Episode On Our YouTube Channel! https://www.youtube.com/channel/UCouWgQ9TLXsSkZ32lSZhDmgTodays voice mail question comes from Scott. He has been invest in stocks and has recently become more interested in trading options. He was curious what our opinion would be on the best way to start. We talk about the pros and cons of buying vs selling options and a few different choices that beginners will have. This includes selling covered calls and cash secure puts and building that into the wheel strategy. Even if you are not ready to start trading options we highly recommend giving this a listen so you know where you may want to begin one day. Cheers

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In today's episode we are going to be talking about the wonderful Roth IRA and why we think it is the BEST investment vehicle of 2021. We will break down exactly what a Roth IRA and how you can open it. We will break down the different types of investments you can put inside your Roth IRA and whether we like to Dollar Cost Average our investment or Lump Sum it all in at the beginning of the year. We will also look at some of the less common pros of the Roth IRA that many people dont know about including how Brad uses it as part of his emergency fund. For the real money nerd out there, the episode will be one of your favorites. Sit back, relax, and let's all become Tax Free Millionaires.

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This weeks voicemail question comes from Aaron and asks how we plan to teach our kids about money and what lessons we hope to instill on our kids as they get older. 

As parents, the financial success of our children's weighs heavy on our shoulders. Too many times I hear from parents who, later in life, feel like they didn't give their children the best chance to succeed with money. There is such a tough balance between trying to give our kids all things maybe "we never had" while at the same time teaching them the purpose and value of money. 

Passing down the things we have learned about money is an amazing way to continue generational wealth. We are both parent to young children are faced with the task of making sure our kids grow up with a foundation of personal finance. 

Whether you are already a parent or plan to be on in the future, this episode will give you some ideas on how to teach your kids about money and set them up for success. 

Thank you so much for listening!