Today, Stephanie and Kevin welcome Joe Saul-Sehy and Emily Guy Birken, the co-authors of Stacked: Your Super-Serious Guide to Modern Money Management.

Emily is a former educator, lifelong money nerd, and a Plutus Award-winning freelance writer who specializes in the scientific research behind irrational money behaviors. She has the amazing ability to make complex financial topics relatable.

Joe is the creator and co-host of Stacking Benjamins, probably one of the most popular personal finance podcasts out there. He was a financial advisor for 16 years. Prior to that he, like many of us, made plenty of money mistakes. This motivated him down the path he is on today.

Today’s discussion centers around why our guests decided to write a funny book on the “serious” topic of personal finance. And we’re excited that they’re stopping in Philly next week (Sunday, April 10) on their book tour! Stephanie will be there to get her book signed. Come out and join us – say hello in person.

Key Topics:

• What motivated Joe and Emily to opt for a humorous approach to personal finance? (4:18)
• “My goal is to create financial surround sound that isn’t in your face.” (12:11)
• Teaching in a more engaging way (15:32)
• Why we shouldn’t shame our “Inner Veruca Salt” (19:40)
• Giving readers permission to spend their money (22:48)
• How fear gets in the way of us achieving our financial goals (27:56)
• The most fun chapter in the book (31:05)
• Picking the right advisor (37:10)
• How to get in touch with Joe and Emily (46:33)
• “What’s one question you wish we asked?” (49:35)
• Stephanie and Kevin’s closing thoughts (53:30)

Resources Mentioned:

• Stacked: Your Super-Serious Guide to Modern Money Management
• StackingBenjamins.com/Stacked (book tour info)
• EmilyGuyBirken.com
• @emilyguybirken on Twitter
• Joe Saul-Sehy on Twitter
• The Stacking Benjamins Podcast

If you like what you’ve been hearing, we invite you to subscribe on your favorite platform and leave us a review. Tell us what you love about this episode! Or better yet, tell us what you want to hear more of in the future. [email protected] 

You can find the transcript and more information about this episode at www.takebackretirement.com.

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Today, Stephanie and Kevin welcome special guest Kylelane Purcell, who for over 30 years has been writing, editing, and managing communications in the investment industry. She has worked as an analyst at Morningstar, a manager at American Century Investments, and VP of Investment Communications at T. Rowe Price.

In 2005, she started her own company, Purcell Communications. She has come to take a keen interest in sustainable investing, and is in fact the lead on ESG-orientated research and thought leadership at her firm. She also partnered with Ben Vivari to start the sustainable investing initiative Till Investors, whose mission is to empower sustainable investors with the right knowledge they need to thrive as sustainable investors.

Listen in as we get Kyle’s take on all things values-aligned investing.

Key Topics:

• “The financial industry does not have a great reputation for explaining what they do clearly.” (2:11)
• The challenge with ESG investing (5:33)
• Kyle’s preferred ESG vehicles (9:25)
• Factors that active managers look for (12:40)
• The greenwashing problem (16:05)
• “Sustainable investing is a vote for accountability.” (18:41)
• Addressing common objections towards ESG (22:16)
• The upcoming wealth transfer (31:27)
• Stephanie and Kevin’s closing thoughts (38:29)

Resources Mentioned:

Till Website

Till on Twitter

Till on LinkedIn

If you like what you’ve been hearing, we invite you to subscribe on your favorite platform and leave us a review. Tell us what you love about this episode! Or better yet, tell us what you want to hear more of in the future. [email protected] 

You can find the transcript and more information about this episode at www.takebackretirement.com.

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Today, Stephanie and Kevin sit down with Janine Firpo, a seasoned values-aligned investor and social innovator. She has been working at the intersection of women and money for a long time, having held positions in Apple Computer, Hewlett Packard, The World Bank, and the Bill and Melinda Gates Foundation.

In 2017, she left her successful career to focus on how women can create a more just and equitable society using their money. In May 2021, she released the book Activate Your Money: Invest to Grow Your Wealth and Build a Better World.

Janine makes sure to walk the walk as well, having moved all of her money into investments that she feels good about. Last year, she joined forces with Ellen Remmer to found a nonprofit called Invest for Better where women come together to learn about values-aligned investing.

Key Topics:

• Releasing Activate Your Money and teaching women via Invest for Better. (2:20)
• How articles on financial issues traditionally differ when written for men versus women. (7:02)
• Making investing fun. (8:35)
• Why asset allocation is critical to your wealth-building goals. (13:45)
• The ESG philosophy and evaluating how well companies align with it. (15:34)
• “My goal is to invest every single dollar I have in ways that align with my values… and that includes my cash.” (17:41)
• The problem with “two-pocket thinking.” (23:01)
• “When you invest sustainably, you not only don’t give up financial return, but you can actually outperform.” (25:29)
• Why Janine decided to commit to values-aligned investing. (28:20)
• How to find better funds. (30:48)
• Knowing when to break up with your financial advisor and finding the right advisor. (34:18)
• “This is a marathon, not a sprint.” (40:45)
• Stephanie and Kevin’s closing thoughts. (43:57)

Resources Mentioned:

• Activate Your Money: Invest to Grow Your Wealth and Build a Better World (book)
• activateyourmoney.net
• investforbetter.org
• asyousow.org
• Activate Your Money on YouTube
• Janine Firpo on LinkedIn
• Janine Firpo on Twitter

If you like what you’ve been hearing, we invite you to subscribe on your favorite platform and leave us a review. Tell us what you love about this episode! Or better yet, tell us what you want to hear more of in the future. [email protected] 

You can find the transcript and more information about this episode at www.takebackretirement.com.

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“We focus on sustainability not because we’re environmentalists, but because we’re capitalists and fiduciaries to our clients.”

That’s a quote by Larry Fink, CEO of BlackRock, the world’s largest asset manager, and it gets to the heart of today’s episode, in which Stephanie and Kevin revisit the topic of ESG (Environmental, Social, and Governance) investing.

If you haven’t already, take a listen to the previous episode of the podcast (episode 34) where our hosts delved into ESG investing with the inimitable Liz Simmie of Honeytree Investment Management.

Listen in as Stephanie and Kevin give a brief history of ESG and explore exactly what each of these three letters mean in the context of pinpointing companies that align with this purpose-driven movement. They also discuss some considerations to make if you’re somebody who is looking into this fascinating approach to investing.

Key Topics:

• Why is TBR talking ESG? (2:31)
• Kevin gives a brief history of ESG and SRI (Socially Responsible Investing). (4:02)
• Stephanie’s take on SRI. (6:02)
• Unpacking each letter in “ESG.” (8:38)
• The ESG philosophy and evaluating how well companies align with it. (11:02)
• “But you’re giving up performance! Why would you want to do that?” (15:12)
• Compromises that some make when investing in ESG funds. (17:58)
• Considerations around ESG investing for beginners. (21:42)

Resources Mentioned:

• Take Back Retirement Episode 34: What the Heck is ESG Investing with Liz Simmie

If you like what you’ve been hearing, we invite you to subscribe on your favorite platform and leave us a review. Tell us what you love about this episode! Or better yet, tell us what you want to hear more of in the future. [email protected] 

You can find the transcript and more information about this episode at www.takebackretirement.com.

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Today, Stephanie and Kevin sit down with Liz Simmie, Co-Founder of Toronto-based Honeytree Investment Management, which just so happens to be one of the very few women-led responsible asset management firms around the world.

Honeytree truly believes that ESG (Environmental, Social, and Governance) data is just as important to assessing a company’s long-term growth and risk as financial data, and so they integrate both, equally. In other words, ESG is real investing!

With the belief that, “ESG is a core function of the board and the management team and part of day-to-day operations in all aspects of the business,” Liz tackles the all-too common pitfalls of ESG initiatives and by extension the usual criticisms that crop up against them. She paints a detailed picture of ESG done right and its resulting impact on an organization’s long-term bottom line.

Values-aligned investing is a big topic for us in 2022, so we’re excited to dive deep into the nuts and bolts of ESG investing with Liz!

Key Topics:

Defining “ESG” (2:03)

Liz’s journey and Honeytree (9:05)

Addressing greenwashing, pinkwashing, and other ESG stereotypes (15:40)

“Both Canada and Europe are way, way, way behind the U.S. on workforce racial diversity disclosure.” (23:35)

The case for stakeholder-governed businesses (26:53)

“We remember when ESG was SRI (Socially-Responsible Investing)…” (31:39)

“We’re whatever the opposite of activist investors are.” (37:35)

How to connect with Liz (41:50)

Stephanie and Kevin’s closing thoughts (43:38)

Resources Mentioned:

• Follow Liz on Twitter at twitter.com/LizSimmie
• Learn more about Honeytree Investment Management at www.honeytreeinvest.com.

If you like what you’ve been hearing, we invite you to subscribe on your favorite platform and leave us a review. Tell us what you love about this episode! Or better yet, tell us what you want to hear more of in the future. [email protected] 

You can find the transcript and more information about this episode at www.takebackretirement.com.

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Today, Stephanie and Kevin cover a topic that can often get confusing for many people: the estate and gift tax system. This is different from the income tax system, and both are federal tax systems that everyone needs to be aware of when planning for retirement.

At the end of the day, the IRS is getting paid. The only two questions, then, are: Who pays? and When? Our hosts tackle these questions and more.

While today’s discussion is a big picture overview of the estate and gift tax system, it will give you a general grasp of the concepts and vocabulary that will make your next meeting with your accountant or estate planning attorney a more insightful and productive one.

Key Topics:

“At the end of the day, the IRS is getting paid.” (2:47)

Defining estate taxes. (4:02)

What are “exclusion amounts?” (6:14)

Defining gift taxes. (8:16)

Maximizing how much your beneficiaries inherit. (11:53)

“My parents can only give me $16,000 a year…” Why this isn’t true. (17:30)

“I want to avoid probate, because if I can do that, then I’m not going to pay estate tax…” Why this isn’t true. (22:11)

Resources Mentioned:

• Take Back Retirement Episode 31: What the Heck is a Trust, and Why Might I Need One?
• Take Back Retirement Episode 32: True Confessions of Two Financial Planners.

If you like what you’ve been hearing, we invite you to subscribe on your favorite platform and leave us a review. Tell us what you love about this episode! Or better yet, tell us what you want to hear more of in the future. [email protected] 

You can find the transcript and more information about this episode at www.takebackretirement.com.

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Today, Stephanie and Kevin offer a unique perspective on the show by diving deep into their own backgrounds as financial planners.

The two kick things off with a brief history of their first jobs before reflecting on their first ever roles in the financial services industry.

Then, Stephanie discusses the inspiration behind Sofia Financial and how she and Kevin came to work together.

Finally, the pair do a rapid-fire Q&A, revealing a few little known tidbits about our hosts, from their guilty pleasures to their financial pet peeves to their dumbest purchases!

Key Topics:

• Stephanie and Kevin’s first jobs. (1:27)
• Entering the financial services industry. (6:37)
• From boiler room newbie to Certified Financial Planner. (12:28)
• “Where did ‘Sofia’ come from?” (16:05)
• What Kevin likes best about his current role. (20:22)
• How about Stephanie? (24:07)
• Rapid-fire Q&A. (26:17)

Resources Mentioned:

• Video: “Guy Suddenly Gets Disappointed After Looking at His First Paycheck”

If you like what you’ve been hearing, we invite you to subscribe on your favorite platform and leave us a review. Tell us what you love about this episode! Or better yet, tell us what you want to hear more of in the future. [email protected] 

You can find the transcript and more information about this episode at www.takebackretirement.com.

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Trusts.

What the heck are they and why might it be a good idea for you to have one?

Most people believe that trusts are this elusive thing reserved for the uber-wealthy…

…or have only heard of it as being a sort of plot device in a movie or murder mystery.

Joining us today is attorney Shannon Evans, a recognized expert in the area of trusts and estate planning. She practices out of Las Vegas and is a frequent speaker on the conference circuit.

With so much confusion around trusts, Shannon is a refreshing presence that gets to the heart of the matter real quick. She demonstrates that trusts are a lot more pedestrian—and a lot more useful—than most would think.

Key Topics:

So… What is a trust, exactly? (3:27)

Who should have a trust? (8:06)

What is an “irrevocable trust”? (14:39)

What you should take into consideration if someone asks you to be a trustee. (18:40)

In which state should you set up your trust? (22:48)

Why should you NOT have IRAs in trusts? (25:33)

Who is the fiduciary of a trust? (29:31)

Updating beneficiaries (33:51)

Stephanie and Kevin’s closing thoughts (40:49)

Resources Mentioned:

• Take Back Retirement Episode 14: What Women Need to Know About Caregiving and Elder Law with Cathy Sikorski
• Evans & Associates

If you like what you’ve been hearing, we invite you to subscribe on your favorite platform and leave us a review. Tell us what you love about this episode! Or better yet, tell us what you want to hear more of in the future. [email protected] 

You can find the transcript and more information about this episode at www.takebackretirement.com.

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You did it. You made the leap.

You left behind that corporate 9-to-5, the micromanaging boss, the freeloading coworker...

Now, you’ve started your own thing. You have endless potential. The world is your oyster. You can do what you’ve always dreamed of.

It’s a dream many of us are striving for. But, it’s easy to forget that we still should be saving for retirement. As a self-employed person or a business owner, how do we pick the right retirement plan to set ourselves up for success?

Listen in as Stephanie and Kevin shine a torch to guide us down the exciting but often muddy path to retirement by speaking on how to choose between the different retirement savings options available.

Key Topics:

“SEP-IRAs still may be the best option for you, but…” (2:37)

How do you save for retirement on a tax-favored basis if you’re self-employed? (2:50)

How to decide on the best plan or account option for you. (9:25)

The traditional and Roth IRA. (13:58)

The SEP-IRA. (20:10)

The SIMPLE IRA. (24:11)

How to save “gobs and gobs of money” with a pension plan. (28:35)

Stephanie and Kevin’s closing thoughts. (30:35)

Resources Mentioned:

• IRS Publication 560
• https://www.irs.gov/retirement-plans/retirement-plans-for-small-entities-and-self-employed          IRS landing page for Small Business retirement plans
• https://www.irs.gov/pub/irs-tege/rollover_chart.pdf        Rollover Chart
• Take Back Retirement Episode: 12: What Women Need to Know About IRA's, with Sarah Brenner
• Take Back Retirement Episode: 20: Women + Roth IRA's - What Should You Be Aware Of?

If you like what you’ve been hearing, we invite you to subscribe on your favorite platform and leave us a review. Tell us what you love about this episode! Or better yet, tell us what you want to hear more of in the future. [email protected] 

You can find the transcript and more information about this episode at www.takebackretirement.com.

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“How much money should I have in the bank?”

It’s a question that Stephanie and Kevin hear on a very regular basis.

No doubt about it: it’s important to have cash on hand; but, with a well-thought-out financial plan, you can really start to make cash work for you.

Listen in as Stephanie and Kevin invite listeners to sort out the purpose of their dollars to know where they should be going. They delve into the question of liquidity and the actual level of accessibility of different cash vehicles, from your bank checking account to your Venmo wallet.

After explaining the characteristics of cash and where to keep it, they talk about how much one should have in cash, and how to invest in your financial future if you happen to have more than enough cash.

Key Topics:

The job of money. (1:41)

What exactly does “cash” mean and where should you put it? (3:32)

The difference between saving and investing. (5:56)

Different places in which you can hold cash. (08:41)

Why your line of credit doesn’t count as part of your cash. (11:28)

Three factors to take note of in order to figure out how much cash you need. (12:58)

“Cash gives you flexibility, and you want flexibility when you’re not sure.” (16:50)

Have more cash on hand than you need right now? What do you do with it? (20:35)

How to invest without tax breaks. (24:59)

Why Stephanie is a big fan of cash. (28:51)

Resources Mentioned:

• Take Back Retirement Episode 20: Women + Roth IRA’s - What Should You Be Aware Of? (https://bit.ly/3Bpd1Zz)
• Take Back Retirement Episode 27: Health Savings Accounts (HSA’s): What Women Need to Know (https://bit.ly/3vX0Bap)

If you like what you’ve been hearing, we invite you to subscribe on your favorite platform and leave us a review. Tell us what you love about this episode! Or better yet, tell us what you want to hear more of in the future. [email protected]

You can find the transcript and more information about this episode at www.takebackretirement.com.

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