The Financial Freshman

How does global conflict affect investments? Rod and Chloe break down how wars change the price of everything from gas to energy and much more. Chloe wonders if young adults should change course when war breaks out, and Rod explains why the best move is the one you made long before the headlines appear.

Retirement looks a lot different than it did for your grandparents, and much more of it is up to you. In this episode, Rod and Chloe talk about why company pensions faded out in favor of 401(k)s, and why index funds are a simple, low-cost place to start investing. They also discuss how to spot financial advice you shouldn’t trust, especially online, and when it makes sense to pay for a professional’s help.

This week, Rod and Chloe discuss the financial aspects of parenting as a young adult. From healthcare to childcare to paying for guitar lessons, it gets expensive—fast—so it's essential to have a clear plan, even if this stage of life is a few years away. McRae's budget template can help with that. When it comes to future expenses, is a 529, UTMA, or Trump account right for your family? Don't worry—the answers are here! 

How can the average person make meaningful financial progress over the years? Rod assures Chloe that there are plenty of ways to do this without having a high-paying job (which isn't always worth the salary). The pair also discuss alternative ways to build wealth, such as side hustles and real estate. 

Rod and Chloe discuss all things investing in this episode. How do you choose between stocks and bonds? Is it ok to choose somewhat "riskier" investments as a young adult? How important is diversification in this stage? Don't miss Rod's rapid-fire definitions at the end of the episode, too. 

Social media turns some people's highlights into everyone else's measuring stick, and it's messing with how we think about our money. On a more personal level, things can get even trickier when it comes to friends and finances; Rod and Chloe discuss how to stay financially considerate and responsible when dining out or hosting friends.

Is all debt bad? Not exactly, and Rod would tell you it largely depends on the type. In this episode, we break down the basics of debt and discuss an outline for what a manageable amount of debt actually looks like for someone in their 20s or 30s.

The real cost of homeownership includes a lot more than the "monthly estimate" lets on. This episode breaks it all down from additional costs like appraisals and taxes to how much income-based wiggle room you really need. Rod and Chloe talk about mortgages, your house as an investment, and what kind of return can you really expect when you sell.

How do I know if I'm ready to buy a house? And when should I combine finances with my partner? This episode makes sure you're going into big decisions such as these with a deep understanding of what's to come. Plus, Rod shares his essential piece of advice for any major life decision. 

What does a financial advisor do, and at what point do you need one? And until then, how do you properly manage your money on your own? We answer these questions and much more in this week's episode.

Bonus: Here's the infographic we talk about in the episode.