In this final episode of 2024, hosts AJ and John explore the complexities of handling sudden unexpected windfalls, major financial decisions like purchasing a home (or vacation home), and some last-minute year-end planning tips.

 

Key Moments & Topics:

0:00 Show introduction and 2024 wrap-up

• The psychology of sudden wealth and how to avoid common pitfalls

4:35 Handling unexpected windfalls

• Smart strategies for managing capital injections without lifestyle inflation

9:15 Home purchasing strategies

• The 20% down payment rule and affordability considerations

16:05 The vacation home debate

• The "6 weekend rule" and why rental income shouldn't factor into your decision

20:33 Year-end financial planning

• Last-minute FSA spending and charitable giving strategies

25:56 Looking ahead to 2025

• Personal reflections and intentional goal setting

Plus, they share their own experiences transitioning roles at BKFi and lessons learned from 2024.