Listen Money Matters - Free your inner financial badass. All the stuff you should know about personal finance.

We get dozens of emails from listeners each week asking really insightful financial questions. When a question needs a detailed answer or is of interest to a lot of people, we turn it into part of a 5 questions episode. Today we have 5 questions about spending a raise wisely, investing in a bull market, what to do with an inheritance, how to pay for an engagement ring, investing in weed stocks, and a bonus question about gold.

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Show Notes

Boont Barl: An amber ale.

Dogfish Head SeaQuench: A sour ale.

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Andrew and Matt share their stories and the lessons they learned creating a blog that makes passive income but more importantly, they are going to spell out the exact steps they took to achieve financial independence.

They will cover:

How to Start a Blog (Step-by-Step Guide) – Everything you need to get started in under 10 minutes with $160. The act of paying someone to host a blog for you is easy.

How to Monetize your Blog – The only two ways that matter and the one you should avoid at all costs.

Your Creation Strategy – Make what people are actually looking for. Also, 80% of SEO is bullshit. I am not special, the internet is filled with people doing exactly what I do. The difference is, I’m just going to tell you for free.

A Blog’s Growth Trajectory – What you should expect in year 1, 2, 3, 4 and 5. It’s all about appropriate expectations because slow and steady wins the race. Going viral is bullshit. Winning online isn’t about being the fastest, it’s being the one left after everyone else gave up.

How You Will Fail – It’s going to happen, and it’s going to happen a lot. Learn about the “Equal-Odds Rule” and how it applies to every success you’ve ever seen. For me, my failures have been far more instructive than what I’ve actually done right.

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Buying a house is a long-held tenet of the American Dream, one of the milestone markers of adulthood. But there are a lot of misconceptions about homeownership.

And there is a lot of misleading information about the process of how to buy a house, some of it seems deliberately misleading. An uninformed buyer is an easy mark for predatory real estate agents, home inspectors, contractors, banks, and mortgage brokers.

Buying a house to live in rather than to rent out is not an investment.

In reality, it’s usually a terrible investment. That’s because, at the end of the day, owning a home takes money out of your pocket: You’re paying property taxes, you’re paying maintenance, you’re paying insurance. There are all of these other things that happen with your home that you’ve got to pay for.

But every decision we make doesn't have to be based strictly on dollars and cents. No matter what we are, anyone else tells you, sometimes you just really want a house. A home of your own feels like stability. It allows you to put your stamp on your environment. A home is something a lot of people want when they decide to have children.

We respect all of those reasons, so if you're bound and determined to do it; we want to show you the smart way to buy a property.

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Show Notes

Psionic Blackberry: A sour from Unsung Brewing.

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Everyone wants to find success both in their personal lives and their professional lives. Because success is an almost universal desire, there are thousands of books, podcasts, articles, TV shows, and seminars that claim they can teach us how to be successful.

And all of the people selling those books and other things have a vested interest in making finding success seem harder and more complicated than it needs to be. But we like to keep things simple and assume you want the same. We love Marcus Lemonis of the TV show The Profit. He is a successful business person and on the show, takes failing businesses and teaches the owners how they can simply achieve success using the Three P's of Success.

There is no magic formula, no book to buy, no seminar to attend. You can spend a single hour after you finish reading this (for free!) and implement one small suggestion for each of the Three P's into your personal, professional, and financial life. Making small changes or minor improvements will not only make you more successful but make your life easier too. Building habits and creating systems are the small picture things that make up the big picture things. No one can overhaul their life in a single step but step-by-step, things get better and easier.

So what are the Three P's of Success? Let's find out.

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Show Notes

Mikkeller and Friends Shake Your Stack: An Imperial Stout

A 3 Hour Plane Ride with Sean Penn: Matt's own New England IPA

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We get dozens of emails a week asking financial questions. Sometimes we get a question so good, we want as many people as possible to hear it and the answer. That's how 5 questions episodes were born. We have questions about the 4% rule, staying financially motivated, and making passive income. Let's answer some questions.

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Show Notes

Gose Dragon's Milk-White: A  white stout.

Matt's Home Brew: A Kolsch.

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A dollar today isn't the same as a dollar tomorrow, that's the time value of money. Risk and return are expecting a dollar risked to earn more than a dollar.

The time value of money and risk and return are two core concepts in personal finance. Luckily, each boils down to a pretty simple statement.

The core principle of the time value of money means your dollar today is worth more than your dollar tomorrow.

Risk and return say that if you are to risk a dollar, you expect gains of more than just your dollar back. For each unit of risk you take on, you expect a slightly more significant unit of return.

Even though these money concepts are easy to simplify, I want to dig a bit deeper into each of them.

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Show Notes

Mikkeller Brewing Passion Pool - Gose-style ale with Passionfruit and Sea Salt

American Solera Movement and Color Member Blend - Foeder Ale Refermented with Chambourcin and Norton Grapes

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For most people, their mortgage is their biggest debt. And we all know that debt is bad. Debt is an emergency that we must pay off as soon as possible. But is all debt bad? Is paying off your mortgage quickly a good personal finance strategy? Paying off your mortgage more quickly has its advantages when done strategically but there are downsides too.

We get a lot of emails asking about paying off mortgages early and people site various reasons for wanting to do so. A lot of people want to join the FIRE movement. They want to quit their jobs, retire much earlier than the typical retirement age of 65, and sometimes start a business with their extra money and time.

Mr. Money Mustache is the God Father of the FIRE movement. He paid his mortgage off years ago to be able to live on something like $30,000 a year.

Some people just hate the idea of having any debt hanging over their heads and as we wrote, a mortgage is the biggest source of debt for most. And there are some homeowners who have a bad interest rate and want to save as much money as they can in a bad situation.

Yes, the idea of being mortgage free is seductive but before you decide anything, we want to show you how to pay off your mortgage strategically.

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Show Notes

Peachy Bones: An India Pale Ale

Jam Skate: A Double IPA

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We all want to get rich or rather wealthy. Being wealthy is much different and much better than being rich. If you want to know how to get rich without getting lucky, Twitter can teach you. A Twitter thread from Naval went viral in the spring of 2018.

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Show Notes

Jam Skate: An American Imperial IPA.

Trillium Brewing: A Double Dry Hopped India Pale Ale.

The Tweet text that inspired this episode. 

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Most people are familiar with Airbnb, the site that lets owners rent out a room or an entire home to travelers. Airbnb has become such a hit that many people use it exclusively when traveling for pleasure, work, or any other reason. Goodbye cramped hotel room, hello fully furnished house!

And Airbnb isn’t just a hit with those renting a place to stay. Airbnb is the most profitable way to make money in the gig economy.

What it did show was that 85% of gig economy workers make less than $500 per month.

But, Airbnb hosts, on average, make more than any other gig workers and are raking in an average $924 per month.

In fact, Airbnb can be more, a lot more, than a way to make a little money on the side. You know Airbnb but you may not be familiar with the acronym FIRE. It stands for Financial Independence Retire Early. And it’s more than an acronym. FIRE is a whole movement championed by people like Mr. Money Mustache and Tim Ferriss.

And the Retire Early part doesn’t mean retiring at 55, it’s more like retiring at 30. If you’re grinding away at a 9-5, have a lot of responsibilities, are in low-paying work, or don’t have a second home just sitting around waiting to host Airbnb guests, you might think this episode isn’t for you.

But wait until you hear the crazy story our guest is going to share. Zeona went from zero to FIRE using Airbnbs that weren’t even hers! Setting yourself on FIRE with Airbnb can be done by just about anyone.

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Show Notes

You’re Killin Me Smalls: A session ale IPA

The Truth Imperial: An IPA from Flying Dog

ZeonaMcIntrye.com: Zeon's consulting site

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We get some interesting questions from our listeners, and we like to address them on the podcast so the answers can help anyone who might have similar questions. Today we’re answering questions about raising rich kids, hiring help, and a $2 million inheritance.

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Show Notes

Saigon Scooter Selfie: A Vietnamese Style Coffee stout

Hell or High Watermelon: A wheat beer brewed with real watermelon.

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