Finerate

What is lifestyle creep and what are five ways to limit its impact on your financial journey? Anastasia and Bill explain the concept behind lifestyle inflation, describe its negative impact on personal finances when left unchecked, and provide actionable strategies for how to guard against it.

For questions, comments, or topics, you can email us at [email protected].

Bill and Anastasia discuss The Shred Method with Adam Carroll, who used this technique to pay off his mortgage quickly and save his family over $180,000 in interest. He is sharing this method to help others achieve more financial freedom within their lives. Adam also discusses strategies he used to successfully teach his children about personal finance and how important it is for parents to teach their kids about finances long before they take out student loans. Adam shares what it's like to give a TED talk, dealing with imposter syndrome, and how he's built a life geared towards his passion of financial literacy.

Adam has published four books, produced an award-winning documentary on student loan debt, and has a TED talk with over 6 million views. To learn more about The Shred Method, you can visit Adam's website at www.theshredmethod.com.

Bill and Anastasia continue their conversation on retirement to discuss what listeners should know about health care in this life stage. What is the difference between your healthspan and lifespan? How has health care in retirement changed and what are the challenges U.S. individuals face? Why is this important to know even when you are decades challenges U.S. individuals face? Why is this important to know even when you are decades out from this stage of life? Bill discusses situations he's witnessed as a financial advisor and how important it is to take action on what you can control. Anastasia shares a gratitude practice she learned from Shawn Achor's TED Talk, "The Happy Secret to Better Work."

The book that inspired this conversation is titled: "What Retirees Want: A Holistic View of Life's Third Age," by Ken Dychtwald, PHD and Robert Morison.

For questions, comments, or topics, you can email us at [email protected].

Will the current working generations retire the word "retirement"? What might that look like? How will retirement look different for Gen X, millennials, and Gen Z compared to Boomers? Bill and Anastasia discuss how increasing longevity will impact retirement and provide practical strategies for how to prepare yourself for this evolution. Bill gives an overview of the concept of retirement, explains its six stages, and discusses why some individuals choose to continue working. Anastasia manages to use an example from one of her favorite shows, Gilmore Girls, again.

The book that inspired this conversation is titled: "What Retirees Want: A Holistic View of Life's Third Age," by Ken Dychtwald, PHD and Robert Morison.

Creating Wealth is now on Instagram! You can follow @creatingwealthpodcast for macroeconomic news and commentary along with previews of episodes.

For questions, comments, or topics, you can email us at [email protected].

What is imposter syndrome and how does it impact personal finance? Anastasia discusses factors that have contributed to imposter syndrome in millennials and how they have created a lack of financial and professional confidence. Bill provides thoughts on how common this psychological phenomenon can be across generations. They discuss how the pandemic affected different age groups, the Arnold Schwarzenegger Netflix documentary, and share personal stories of how imposter syndrome has affected them. They discuss practical tips for how to overcome imposter syndrome and how to regain personal, professional, and financial confidence.

For questions and comments, you can email Bill and Anastasia at [email protected].

Risk tolerance isn't the most exciting topic, but it's absolutely fundamental to your investment strategy. Bill and Anastasia revisit this subject to explain why it's so important to understand your risk tolerance. Bill gives his thoughts on the current markets and provides multiple examples from his career for why misunderstanding your risk tolerance can lead you to make emotional decisions with your investments. How does a financial advisor manage a couple where both individuals have differing risk tolerances? (Spoiler: This happens pretty much every time.) How do financial advisors apply risk tolerance to a client's investment strategy?

For questions and comments, you can email Bill and Anastasia at [email protected].

How can you tell if you are suffering from burnout? What are the symptoms and how do you address burnout and resolve it? Anastasia and Bill explain how burnout impacts your professional, financial, and personal life and share times in their lives when they experienced burnout. They also provide practical tips for how to recover from burnout.

For a deeper dive on this topic and to reference information pulled for this episode, you can check out Emily Nagoski and Amelia Nagoski's book titled Burnout: The Secret to Unlocking the Stress Cycle.

For questions and comments, you can email Bill and Anastasia at [email protected].

To create wealth, you must have a fundamental understanding of your financial situation. Bill and Anastasia discuss many important questions to get you thinking about your money. Do you know how much money is coming in vs. going out? If your water heater died, how panicked are you? How much money would you get if you sold your house today? What's the highest interest rate you are paying on your debt? How much are you worth?

Bill shares important life lessons from people he has met, and Anastasia talks about how her emergency fund saved her from a lot of stress last year. She also wonders how expensive homeowners insurance policies are for the ultra luxury homes portrayed on Netflix's Selling Sunset.

For questions and comments, you can email Bill and Anastasia at [email protected].

Here's your Motivation Friday! Bill and Anastasia discuss what it takes to increase your income, including tips on how to negotiate salary, networking, how to determine what skills and education are needed, navigating career transitions, and how to stay motivated to work towards your income and career goals. Anastasia describes how financial planners, coaches, and advisors can assist their clients. Bill discusses an important concept to grasp as an employee.

For questions and comments, you can email Bill and Anastasia at [email protected].

The Artificial Intelligence revolution is here.

Bill and Anastasia discuss the AI change, how fast this change is happening, and how to future-proof your career. They describe their interactions with ChatGPT and whether AI capabilities are something to fear, or something to figure out. They cover the open letter by the Future of Life Institute to halt AI development for six months, and mention how countries are currently approaching regulation of AI. Anastasia gives her thoughts on whether AI is a threat to creative writing and brings up one her favorite theories to discuss, the Fermi Paradox.

For questions and comments, you can email Bill and Anastasia at [email protected].