Radical Personal Finance

I've featured several doom-and-gloom guests on recent shows. I like to give people an opportunity to make their case to me as convincingly as possible and I always enjoy challenging myself with catastrophic predictions.

But I struggle with a lot of the advice from those who predict global chaos in short order. Frankly, much of it is impractical.

So, in today's show I tackle the subject the way that I would tackle it if I were asked for my practical advice on the subject.

I hope it's useful for you!

Enjoy,

Joshua

• Do you have student loans? Check out SoFi to see if you can refinance and save some cash! http://radicalpersonalfinance.com/sofi
• Support Radical Personal Finance directly on Patreon: http://radicalpersonalfinance.com/patron

I like to share as much "behind the curtains of the financial advice industry" stuff as possible. But I like to do it from a diverse perspective.

If you like seeing how good financial planning can dramatically impact a real-life scenario, this is a show for you.

My guest is Patrick Renn, a 35-year veteran of the financial planning industry. Patrick runs a wealth management firm in Atlanta, GA and specializes in helping his clients develop well-designed charitable giving programs.

If you enjoy seeing nuts and bolts of financial planning applied in the real world, you'll enjoy this show.

Enjoy!

Joshua

• Patrick's book: "Finding Your Money's Greater Purpose: How to Make Your Legacy Count" http://rpf.link/1Ux8H1o
• Website for the book: http://www.moneysgreaterpurpose.com/
• Patrick's Wealth Management site: http://www.rennwealth.com/
• Use the best budgeting tool in the world! http://radicalpersonalfinance.com/radical
• Have student loans? Get a consultation with Jay Fleischman: http://studentloanshow.com/radical
• Support Radical Personal Finance! http://radicalpersonalfinance.com/patron

On Fridays I do a Q&A show for Patrons of the show. www.radicalpersonalfinance.com/patron

Today, we cover these topics:

• Thoughts on Giving Unsolicited Advice
• Average Rate of Return vs. Real Rate of Return
• Group Life Insurance and Long-Term Disability Insurance Decisions
• and More!

Enjoy the show!

Joshua

• Support Radical Personal Finance on Patreon! www.radicalpersonalfinance.com/patron

I recently had the opportunity to interview Robert Kiyosaki, the author of Rich Dad, Poor Dad, which is the top selling personal finance book of all time.

The concepts of Rich Dad, Poor Dad are well known in the personal finance circles.

Rather than trying to get Robert to outline the content of his 20 books, I sought to unwrap a little bit of the man behind the story.

You can judge how I did!

Enjoy the show,

Joshua

• Kiyosaki's website: www.richdad.com
• Need a financial advisor? www.radicalpersonalfinance.com/paladin
• Looking for a new brokerage account? Get $100 bonus when you open an account here! www.tradeking.com/radical
• Support Radical Personal Finance on Patreon! www.radicalpersonalfinance.com/patron

In January 2013, I bought a house, proceeded through the whole process really carefully and thought I'd made some pretty good decisions.

But a couple months after closing, I found out that I'd missed an awesome tax credit and kissed $2,000 a year goodbye. How frustrating!

I hate missing out on free money, especially when I can get it out of the coffers of the US Government!

So, I want to help you do better. And I want to teach you about the Mortgage Credit Certificate (MCC) program.

Enjoy!

Joshua

• Florida's MCC program details: http://rpf.link/1YCSCre
• Need a Financial Advisor? Start here: www.radicalpersonalfinance.com/paladin
• Open a brokerage account with TradeKing and get $100 credited to your account! www.tradeking.com/radical
• Support RPF on Patreon: www.radicalpersonalfinance.com/patron

On Fridays, we do a Q&A phone conference here at Radical Personal Finance. Today's call was unusual in that we only had one caller, so we spent a lengthy amount of time discussing one particular issue.

Today's caller was responding to a previous podcast about how my wife and I handle our finances, specifically with regard to my role as a husband and her role as a wife.

We had an excellent conversation on the role of earning money versus the role of being a parent and how to work that out within the context of a family.

Enjoy the show!

Joshua

• If you'd like to participate in these weekly Q&A calls, please become a patron of the show and you will gain access to the calls. www.RadicalPersonalFinance.com/patron
• Why I Choose to Believe the Bible http://rpf.link/1QPPWAu

Will you pay less taxes when investing in a Traditional IRA or a Roth IRA? Do you know? Are you sure?

If you're not sure, the answer may surprise you.

Let me know if you're surprised!

Joshua

• Support Radical Personal Finance: www.radicalpersonalfinance.com/patron

Hey Radicals!

If you have emailed me (especially through the contact form on my website) and I haven't personally responded, please assume that I simply never received your message.

I'd love to hear from you, so please write again!

From July of 2015 until February of 2016 the contact form had a technical glitch that prevented emails from coming through.

That means that I missed hundreds of your communications.

I'm sorry!

We've fixed the problem now, so please try again.

I'd enjoy communicating with you personally. I work very hard to respond to all of your emails so it's disheartening to me that many of you have sent me notes to which I never responded.

Again, my apologies!

Joshua

Today on the show we answer this question:

"Hey Joshua,"I'm a fairly new listener and have been going through some of your older podcasts to absorb as much info as possible. I think you could potentially provide some good advice that I'd love to hear answered in an upcoming podcast if possible..."Since discovering your podcast I've completely changed my thoughts on savings and consumption. I've always lived pretty frugally (I thought) but it turns out I was making poor decisions all along. I bought a house last year thinking that was a fool proof way to hang on to my money. I only just ran the numbers this month since I've discovered your podcasts on homeownership, and I've discovered I would have been much better off renting. I've also cut my cell phone bill in half (still $70/month though) and cut back on my weekend golf habit which I was spending about $200/month on. In place of that I've decided to train for a triathlon which is free since I already have a decent road bike. So thank you for all those tips on saving! I'm continuing to find ways to save."My situation that I'd like your advice on is my current job. I'm an engineer making just south of $200,000/year. I'm working at a nuclear power plant in the middle of no where in Georgia. The closest town is Augusta which is still a 50+ minute commute each way (I'm single, 30 years old, and living in a trailer in the woods near the plant wouldn't going to help that situation). I'm working 50 hours/week plus the commute and 30 minute unpaid lunch break. My entire week is consumed by work and travel to work. This is a paperwork heavy desk job which brings me zero fulfillment. I would love to quit and chase short term seasonal outage work but my dividend/investment income isn't nearly enough to live off and I can't justify turning down this kind of steady income stream. I'm miserable but well paid. I'm afraid that if I quit, my experience level isn't enough to land me the highly sought after seasonal work I'd be trying to get. I believe you were likely in a similar pay scale when you quit your job and since your situation was similar to mine is I'd like your advice as to how to get more enjoyment out of life and work."Love the podcast!"

Enjoy the show!

Joshua

• Get a $100 bonus when you open an account at TradeKing: www.tradeking.com/radical
• Support Radical Personal Finance on Patreon! www.radicalpersonalfinance.com/patron

I'm up here in Nashville, TN at the moment and had the opportunity to connect with Dan Miller from 48 Days to the Work You Love.

Dan is a legend in the career advice business. He has helped many, many people transition from work that paid the bills to work that they love.

Dan has a lifetime's experience as an entrepreneur and in today's interview he shares his advice with us on:

• Should everyone be an entrepreneur?
• Is entrepreneurship risky?
• How can we teach our kids to be entrepreneurs?
• How to decide when to save and when to spend.

Enjoy!

Joshua

• Dan's website: www.48days.com
• Support RPF! www.radicalpersonalfinance.com/patron