Optimal Finance Daily - Financial Independence and Money Advice

An excerpt from the book Transparent Investing: How to Play the Stock Market Without Getting Played by Patrick Geddes

Episode 1893: An Excerpt From Transparent Investing: How to Play the Stock Market Without Getting Played by Patrick Geddes

The investment industry wants you to believe in stock market wizards who can predict the future and make a killing for you. But there’s a simpler way to invest using indexing that offers better returns and less stress—no crystal ball needed.

We all know from experience that rational thoughts often lose out to primal cravings: if someone handed you a plate of chocolate cake and a plate of broccoli right now, which would you instinctively reach for?

When investing, you face this same tension between the part of your brain that longs for the sweet, satisfying allure of beating the market versus the rational and wise part that chooses the boring solution offering better results. You also face an uphill battle against an industry that makes more money selling you the finance equivalent of chocolate cake.

This is the truth the investment industry doesn’t want you to know: a low-cost passive portfolio not only earns you higher returns on average than active investing (the kind that makes them the most money) but is also shockingly simple to build and manage. Smart investing doesn’t have to be intimidating or as complicated as the faux wizards behind the curtain want you to believe. With Transparent Investing, you’ll learn how the game works and how to achieve your investment goals with far less study, time, and anxiety than you might think.

Learn more about Kyle and the book here: https://patrickgeddes.co/book/ 

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Gordon Stein of Cash Flow Cookbook talks about the value of making simple financial changes

Episode 1892: Surfing to Financial Wellness by Gordon Stein of Cash Flow Cookbook on Making Simple Financial Changes

Gordon is an international personal finance speaker, author and blogger on a mission to help everyone attain financial wellness. North Americans are struggling with high levels of personal debt and higher levels of stress about money. Their financial worries affect their sleep, their job performance, their marriages and their mental health. He wants to fix that.

The original post is located here: https://cashflowcookbook.com/surfing-to-financial-wellness/ 

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Amy Blacklock and Vicki Cook of Women Who Money talk about the difference between preferred and common stocks

The co-founders of Women Who Money are Amy Blacklock from Life Zemplified and Vicki Cook, from Make Smarter Decisions. Vicki and Amy connected initially online and eventually met in person at a financial conference in the fall of 2017.

They’ve both reached financial independence and left full-time work to devote more time to family, pursue passion projects, and embrace fun and challenging opportunities.

They enjoy collaborating on original content and sharing great articles written by and for women.

The original post is located here: https://womenwhomoney.com/preferred-vs-common-stock/ 

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Brian Tracy shares 5 reasons why most don't become wealthy

Episode 1890: 5 Reasons Why Most Don't Become Wealthy by Brian Tracy on Taking The Long View On Your Finances

Brian Tracy's goal is to help you achieve your personal and business goals faster and easier than you ever imagined. BrianTracy has consulted for more than 1,000 companies and addressed more than 5,000,000 people in 5,000 talks and seminars throughout the US, Canada and 70 other countries worldwide. As a Keynote speaker and seminar leader, he addresses more than 250,000 people each year. He has studied, researched, written and spoken for 30 years in the fields of economics, history, business, philosophy and psychology. He is the top selling author of over 70 books that have been translated into dozens of languages.

The original post is located here: https://www.briantracy.com/blog/general/5-reasons-why-most-dont-become-wealthy/ 

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Melanie Lockert of Student Loan Planner talks about what to do with unused student loan money

Episode 1889: What to Do With Unused Student Loan Money by Melanie Lockert of Student Loan Planner on Reducing Debt Loans

Student Loan Planner has the country's top experts in figuring out exactly what to do with monster student loan debt. If you owe $20,000 to $1 million in student loans, they can help you by creating a custom student loan plan made just for you that details the path to debt freedom, and connect you with private lenders that will refinance your loans at a lower interest rate. You'll also get a cash back bonus. 

The original post is located here: https://www.studentloanplanner.com/return-unused-student-loan-money/ 

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Barney of The Escape Artist talks about taking control of your own investments and the value of wealth managers

Episode 1888: Honey, I Fired the Wealth Manager by Barney of The Escape Artist on Taking Control of Your Own Investments

Barney Whiter writes about money and financial freedom at The Escape Artist. He has a degree in economics, is a qualified chartered accountant and had a 20 year career in corporate finance in London.

Most recently, he is providing financial coaching to entrepreneurs, employees, and other people saving and investing towards financial freedom.

The original post is located here: https://theescapeartist.me/2015/09/07/honey-i-fired-the-financial-adviser/ 

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Craig Stephens of Retire Before Dad talks about how financial independence affects traveling

Episode 1887: The Holy Grail of Travel by Craig Stephens of Retire Before Dad on Finding Your Financial Independence

Craig Stephens of Retire Before Dad is a 43-year-old IT professional, investor, and blogger based in the Washington, DC metro area. His primary financial goal is to retire at age 55, one year before his Dad retired. He writes about how to build income streams so you can explore the unusual. His first love is his beautiful wife and three kids. His second love is travel. Combining both in early retirement is the ultimate goal and his primary motivation for financial independence.

The original post is located here: https://www.retirebeforedad.com/holy-grail-of-travel/ 

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Philip Taylor of PT Money shares 10 reasons to start a Roth IRA

Episode 1886: 10 Reasons to Get Off Your Butt and Start a Roth IRA by Philip Taylor of PT Money on Retirement Savings

PTMoney.com is about helping you make extra money, save more money, and spend your money wisely--all in an effort to help you fix your finances so you can build the life you want. It was started by Philip Taylor, a CPA, entrepreneur, and blogger who started the site in 2007. He also created FinCon, the popular conference for financial nerds.

The original post is located here: https://ptmoney.com/start-roth-ira-10-good-reasons/ 

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Sean Mullaney of FI Tax Guy talks about tax planning for inherited IRAs. This is part 2 of 2.

Episode 1885: [Part 2] Tax Planning For Inherited IRAs by Sean Mullaney of FI Tax Guy

Sean Mullaney is a financial planner and the President of Mullaney Financial & Tax, Inc. Mullaney Financial & Tax, Inc. offers fiduciary, fee-only, hourly, and advice-only financial planning.

Sean established Mullaney Financial & Tax, Inc. after a lengthy career in public accounting. He worked in the tax departments of both Deloitte & Touche and PwC, including over 6 years in PwC’s Washington National Tax Services practice.

Sean is a Certified Public Accountant licensed in California and Virginia. He is a member of the American Institute of Certified Public Accountants and an associate member of the National Association of Personal Financial Advisors. Sean has degrees in accounting, law, and taxation and a certificate in financial planning. 

The original post is located here: https://fitaxguy.com/2020/10/ 

 Visit Me Online at OLDPodcast.com

·        Note: The podcast ad for the IMPACT app is unscripted and being recorded live. It may contain some slight differences. Please visit https://impact.interactivebrokers.com/ for full details of products and services. Interactive Brokers, LLC member FINRA/SIPC.

·        The projections or other information generated by IMPACT app regarding the likelihood of various investment outcomes are hypothetical in nature, do not reflect actual investment results and are not guarantees of future results. Please note that results may vary with use of the tool over time.

·        The paid ad host experiences and testimonials within the Podcast may not be representative of the experiences of other customers and are not to be considered guarantees of future performance or success. The opinions provided within the ad belong to the host alone.  

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Sean Mullaney of FI Tax Guy talks about tax planning for inherited IRAs. This is part 1 of 2.

Episode 1884: [Part 1] Tax Planning For Inherited IRAs by Sean Mullaney of FI Tax Guy

Sean Mullaney is a financial planner and the President of Mullaney Financial & Tax, Inc. Mullaney Financial & Tax, Inc. offers fiduciary, fee-only, hourly, and advice-only financial planning.

Sean established Mullaney Financial & Tax, Inc. after a lengthy career in public accounting. He worked in the tax departments of both Deloitte & Touche and PwC, including over 6 years in PwC’s Washington National Tax Services practice.

Sean is a Certified Public Accountant licensed in California and Virginia. He is a member of the American Institute of Certified Public Accountants and an associate member of the National Association of Personal Financial Advisors. Sean has degrees in accounting, law, and taxation and a certificate in financial planning. 

The original post is located here: https://fitaxguy.com/2020/10/ 

 Visit Me Online at OLDPodcast.com

·        Note: The podcast ad for the IMPACT app is unscripted and being recorded live. It may contain some slight differences. Please visit https://impact.interactivebrokers.com/ for full details of products and services. Interactive Brokers, LLC member FINRA/SIPC.

·        The projections or other information generated by IMPACT app regarding the likelihood of various investment outcomes are hypothetical in nature, do not reflect actual investment results and are not guarantees of future results. Please note that results may vary with use of the tool over time.

·        The paid ad host experiences and testimonials within the Podcast may not be representative of the experiences of other customers and are not to be considered guarantees of future performance or success. The opinions provided within the ad belong to the host alone.  

Interested in advertising on the show? https://www.advertisecast.com/OptimalFinanceDaily

Learn more about your ad choices. Visit megaphone.fm/adchoices