The Stacking Benjamins Show

Have you ever thought about quitting your job, getting out of the rat race, and instead working on your passion? Maya Chupkov is a force of nature, and did just that. After scoring what was the "job of a lifetime," she realized that the actual work didn't meet what she wanted in life. So instead, she quit that job to focus on her lifestyle and needs. Her new boss at a smaller paycheck firm wanted to promote her into more responsibility (and more money) and Maya again said "no." Instead, she spends her time shining a light on the plight of stutterers, something that has not only been a part of Maya's life since she's been born, but also has been a part of the life of one of our SB podcast hosts (Joe). Maya is not only now the host of the acclaimed Proud Stutterer podcast, but also is working a documentary about a man whose life changed because of his stutter, and not for the better. It's called Rock of Hope, and Maya today details not only what it took to quit a high paying job, but also how she's gained skills, connections, and funding for this new project. It's a fascinating walk through the life of a woman who's pursuing her dream: to help stutterers everywhere come out of hiding and focus on their strengths with the help of the community around them.

In our headline segment, trouble on the "making more money" front. The Wall Street Journal reports that pay raises are shrinking. What do you do if you aren't going to be scoring as big a raise in the future as you have in the past? We share tips and ponder different avenues you should explore to try to not only tighten the belt, but make more money when others are not. We also spend some time on the back porch talking about Stackers who are Olympians, and feedback about our recent sandwich survey episode. Of course, we sandwich that all around Doug's amazing trivia question.

FULL SHOW NOTES: https://www.stackingbenjamins.com/maya-chupkov-1547/

Deeper dives with curated links, topics, and discussions are in our newsletter, The 201, available at https://www.stackingbenjamins.com/201

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The piggy bank is clearly outdated. What kid needs to learn about cash now? It's far more important to know what those plastic things in mom or dad's wallet really are and how to use them responsibly. While contemplating the piggy bank we asked ourselves, "What are some other outdated ideas about money that we're holding?" That topic created this wild ride of a podcast episode where OG, Doc G (Earn & Invest podcast), and Paula Pant (Afford Anything) share and critique each other's ideas of outdated money concepts. You'll hear everything from big ideas to tactical solutions that no longer work on today's show. From the concept of "retirement age" to "don't refinance until you can beat your interest rate by 2%," you'll hear it all.

Of course, as we do every Friday, we'll feature our year-long contest between our contributors for the big Dollar Store trophy prize. Paula actually won trivia last week...can she make it two in a row?

FULL SHOW NOTES: https://stackingbenjamins.com/outdated-financial-concepts-1557

Deeper dives with curated links, topics, and discussions are in our newsletter, The 201, available at https://www.StackingBenjamins.com/201

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What's the most fun way to look at inflation? Well, even though it might not be fun to watch your wallet disappear at the grocery store, it is VERY fun to watch trends in food costs over time. Len Penzo began his annual sandwich study to just prove that packing your lunch is cheaper than buying food at a restaurant. He also wanted to show just how much money you could save to either pay down debt or invest. Instead, many years later, Len's sandwich study is always compared to the classic "Big Mac" study, where they track the price of a Big Mac. We prefer Len's study because making a sandwich is healthier, cheaper, and also maybe a little more fun. So today we'll compare the cost of ten sandwiches and see which one is this year's champion...but more importantly, we'll see if your grocery bill has gone up or down from a year ago.

In our headline segment, your home is your castle so it probably holds LOTS of cash value that you may want to tap into during your retirement years. How do financial planners look at home prices that might not rise as quickly in the future as they have in the past? We'll chat about housing, selling your house for retirement, how people navigate selling and "downsizing" in real life, and much more.

Of course, we still take a call from a Stacker on our Better Call Saul....Sehy and OG segment. Plus, we always leave room for a helping of Doug's trivia.

FULL SHOW NOTES: https://stackingbenjamins.com/len-penzo-2024-sandwich-survey-1556

Deeper dives with curated links, topics, and discussions are in our newsletter, The 201, available at https://www.stackingbenjamins.com/201

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You've played the game by the rules...moving your money from a 401k to an IRA when you change jobs (which happens in the USA far more often than you'd think). But are you forgetting a "step two" that could cost you over a million dollars? A recent Wall Street Journal piece says that you may be making a HUGE mistake. Today we'll break down where people are getting it wrong so that YOU aren't stuck with a much smaller retirement nest egg than you'd hoped or expected.

We also take a question from a Stacker who's accepted a "job" that pays her as a 1099 "employee." How does she make sure she doesn't owe too much in taxes at the end of the year? In general, how should she set up her money now that she's going to be responsible not just for taxes, but for her own benefits and more? We'll help her (and maybe you, if you ever decide to start your own business or side hustle) take control of her money so that she's in great shape come tax time and beyond.

Of course, we also share Doug's amazing trivia question AND a TikTok minute that might mess with Doug's brain.... (not too difficult, really).

FULL SHOW NOTES: https://stackingbenjamins.com/401k-rollover-mistakes-to-avoid-1555

Deeper dives with curated links, topics, and discussions are in our newsletter, The 201, available at https://www.stackingbenjamins.com/201

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Are we overusing popular "helper" apps like DoorDash, Instacart, and Uber? One popular blogger thinks so, which made us ask some of the top podcasters in the money space: do you agree? This simple question helped create a fantastic discussion about the importance of community, real-life neighborhoods, avoiding "using" people while still appreciating them, and so much more. Dr. Bill Yount joins us from the Catching Up To FI podcast. Bill's a natural community builder, so we were thrilled that he agreed to join Paula Pant (Afford Anything) and Doc G (Earn & Invest) in this wide-ranging discussion.

As always, we'll also include another EPIC edition of Doug's trivia in the middle of today's chat!

FULL SHOW NOTES: https://www.stackingbenjamins.com/how-to-save-big-money-on-doordash-instacart-and-uber-sb1554

Deeper dives with curated links, topics, and discussions are in our newsletter, The 201, available at https://www.StackingBenjamins.com/201

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One of the world's largest money management companies is raising fees AND has a new CEO from a competing firm. Are times a-changin' at Vanguard? We'll dive into all of the behind-the-scenes action, and discuss how this just might affect your wallet. Of course, we'll widen the argument for those of you NOT at Vanguard. If your money is with another firm, what happens when there's a change at the top? What should you look out for when it comes to prudently deciding whether it's time to move your nest egg?

Plus, in our TikTok minute, one crypto is paying a walloping 19.55 percent! Cowabunga! Should you back the truck up and shovel money in? We'll share our thoughts.

And we take a call from a Stacker wondering what "Velocity Banking" is all about? How does it work, and if you can use this method to pay off your loans faster, should you jump in?

All of that AND Doug's trivia on today's show!

FULL SHOW NOTES: https://stackingbenjamins.com/vanguard-changing-course-1553

Deeper dives with curated links, topics, and discussions are in our newsletter, The 201, available at https://www.stackingbenjamins.com/201

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Want to know how to make your money perform better? Begin controlling that stuff between your ears. Between negative self-talk and obviously-bad money moves, we find plenty of ways to sabotage our long term goals. Today we're joined by behavioral economist Dr. Daniel Crosby, who dives into what he calls "the soul of money." We'll discuss wisdom from some of the world's greatest legendary figures, like Alexander the Great, and dive into stories like The Kite Runner and what we can learn about money, happiness, "more," and being truly wealthy.

Plus, in our headline segment, one type of worker is loading up on cash inside of their retirement fund at work. Who? It turns out, that it's workers at companies that have decided to default retirement contribution plan percentages at a higher rate. Huh? It's not only fascinating, but probably the reason why you might be able to save more...but never have been able to pick the lock. If you're a great saver, you'll also know this is the key--so send this headline to your friends! Joe and OG tackle this topic from beginning to end, and hopefully, you'll be richer as a result (or on your way to riches).

We also take a call from Stacker Blake, who asks about his Acorns account. Now that he's been using it for awhile, should he move it to a different home so that he doesn't have several different accounts?

Of course, we'll also save time for Doug's trivia question, groan about the state of Ohio, and more!

FULL SHOW NOTES: https://stackingbenjamins.com/psychology-and-money-1552

Deeper dives with curated links, topics, and discussions are in our newsletter, The 201, available at https://www.stackingbenjamins.com/201

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If you could win medals for your financial performance, what would you need to accomplish? Today, four-time Olympian and the first American woman to medal in both the winter AND summer games, CFP Lauryn Williams, joins us to both share the inside look at tonight's opening ceremonies and help our roundtable team outline the moves YOU need to make to score gold with your money. We'll talk about the foundation it takes to begin the journey and then the moves beyond to be a true champ. Of course, our gold-medal team of Paula Pant (Afford Anything) and CFP OG from our podcast join in the fun. On top of some great advice, you'll also hear our weekly trivia challenge between our participants as THEY try to score gold for correct answers.

It's a great episode marking a fun date in history. Let the games begin!

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A new study shows that baby boomers are tapped out. On today's show we dive into the reasons why this is the case and explore a TON of ways that you can ensure that you aren't running out of money before you run out of life. We'll explore lots of areas, like:

...and lots more.

In our TikTok minute we explore estate planning. What happens when dad is about to die and he tells his son, "Just put me in my boat and let the sea take care of me." The reply from the son may not be what you'd expect. We also take a call from Stacker Eric, who's wondering if he should keep pumping money into his HSA even though he has a significant amount saved already. What if he doesn't need that money?

Of course, we also save time for Doug's trivia AND we avoid celebrating "old joke day."

FULL SHOW NOTES: https://stackingbenjamins.com/running-out-of-money-in-retirement-1550

Deeper dives with curated links, topics, and discussions are in our newsletter, The 201, available at https://www.stackingbenjamins.com/201

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Tessa West has seen lots of people in the wrong careers. Either the job has drifted from what they'd initially thought, or maybe they're a leader at work, but they're passed over for promotions or raises. There are many reasons why people feel the malaise of a job that doesn't work anymore, but the effect is nearly always the same. Either you stagger through the work, wasting your life, or you dream about early retirement. What if there was another answer? What if the job that lights you up is actually out there? You need to know the tools to go find it. That's what Tessa Woods gifts us on today's show. You'll learn how to throw off the ennui and find meaning at work by either rebooting your current career or finding a new job elsewhere. We'll talk about how to engage in effective networking, how to assert yourself as a leader in your field, and why changing fields isn't a bad idea--even if you're an older worker. While many of us think that we wouldn't qualify for jobs against seasoned pros who've already had experience in the given area, Tessa shares how and why employers often want someone with a fresh perspective. You have to know how to sell your strengths, and we'll share some keys today.

In our headline segment, we'll review how Mark Cuban saved his fortune from disaster when everyone else lost money in the 2000-2002 tech wreck. We'll share the tools he used and how it all went down. Plus we'll answer the question: should YOU also use this strategy to avoid losses? It's a great question, and we tackle it head-on! We'll cover options, market declines, and the financial planning reasons Cuban executed this strategy.

FULL SHOW NOTES: https://stackingbenjamins.com/find-a-job-you-love-1549

Deeper dives with curated links, topics, and discussions are in our newsletter, The 201, available at https://www.stackingbenjamins.com/201

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