The Long Game

Most people view finances in their marriage as one. You have one checking account, savings, account, etc. and that is the only correct way to do it. And if you don't do it that way, then you have bad marriage and don't trust the other person.

This could not be farther from the truth. There is no one correct way to do things, every person and relationship is different and the way you manage your finances can be too. 

In this episode we share the 4 different options couples have, how they work, which ones we have seen work best, etc. 

For the first time, we have a guest, Kent on this season of the Long Game.

In this episode we talk about 

-how to prepare for a home

-costs you may not think of that need to be planned for 

-how the process differers for business owners

-how to buy a rental property and the differences there 

And so much more. We truly take a deep dive in this episode, you don't want to miss it. 

In this episode Thomas and Treyton talk about flexibility and why it's so important for your life.

As young professionals, so much of your future is uncertain. We have no idea how our life will change, what we will want, etc. so planning for flexibility is extremely important.

Thomas and Treyton break down why they plan mostly for flexibility and how to do it. 

In this episode we talk about FIRE, what it is, how much it would take to save for it, and whether we like it or not.

Most people view retirement as an age range. "I will retire at age 60." When in reality, age is not the way to shoot for retirement. Retirement is just a math equation to figure out how much you need to retire. 

Check out this episode if you are thinking of going for FIRE or if you are wondering what it is. 

In this episode we share with you exactly how we manage our money. From:

-How we manage cash flow

-How we save for taxes

-How we set up of our business

-How we invest and what we invest in

Get to know exactly how a financial advisor manages their money and also things we don't do and why we don't do them. 

In this episode we talk about company benefits and how to maximize them with open enrollment being around the corner. 

Your benefits are a huge part of your compensation so it is important to take them seriously and thin through:

-which health insurance plan to use and why (HSA)

-disability insurance

-look into 401k and stock compensation

Then we finish the episode talking about how to tach your kids about money, different exercises, tools, etc. and why it all starts with you as a parent. 

In this episode Thomas and Treyton start out talking about the difference between investing and gambling and how they really aren't the same thing at all. With gambling, the house always has more favorable odds and the more you play, the lower your chances of coming out on top is. With investing, it is the exact opposite. The longer you hold and invest (a diversified portfolio) the higher your odds of making money are. You can read the full blog post here https://thomaskopelman.com/2020/10/investing-is-not-gambling/. 

Then we answer a question from our audience on how to save for short term goals. Most people don't segment out and save individually for each goal, you will hear us explain how and why it is so important to break up your savings goals. 

In this episode Thomas and Treyton talk about how personal finance is much more personal than it is finance. 

We are told all the time what the best textbook financial decisions are, but the thing is real life is not lived in the spreadsheets. You need to make decisions that are best for you and your life. 

We go into multiple examples of decisions that are not the most optimal but still can be the best for you.

Then we end talking about credit cards, if you should use them, who shouldn't, and also about 0% interest cards as well as spreading purchases out over months. 

In this episode Thomas and Treyton talk about what net worth is, how to calculate it, and why it is the most important metric to track. 

Then we chat about credit cards, tips for using them, if you should use 0% credit cards, etc. 

If you liked this episode please leave us a review! 

In this episode you will hear Thomas and Treyton talk about why investing is completely different than when our parents were younger. We have instant access to info, influencers and famous people pushing investments, new return expectations, etc.

Then we talk about the difference between ROTH and Traditional accounts and how to think through which one to use.