The Stacking Benjamins Show

F is for Fun. And we have a ton of fun today talking to Rob Phelan about his new children's book M is for Money. He was inspired by reading with his own son and realizing there weren't any books on the market that teach basic personal finance to kids. Even if you don't have kids yourself, this book might be a great gift for a kid in your family. We also dive into financial literacy in general and why so few programs are successful. If you have any interest in improving the money habits of the people around you, we've got you covered.

During our headline segment, IRA and tax expert Ed Slott joins us to talk about a five billion dollar Roth IRA! That's right, Peter Thiel's Roth IRA balance is over a cool five b's at this point. Ed helps explain how it happened and what changes Congress might make to prevent this in the future. For many who dream about crypto riches, can you replicate Thiel's feat (or score a measly 2-3 million) in YOUR Roth IRA? We'll ask Ed about that as well.

We'll also throw out the Haven Life line to Justin who wrote in to our basement Facebook group to ask about how much to gift his niece for graduation (we have some great ideas and alternatives to monetary gifts!). And of course we'll leave time for Doug's amazing trivia.

Enjoy!

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14 minutes. Today we talk to Chris Field about changing the world using only 1% of your time (14 minutes a day). Chris will share why "charity begins at home" is a misguided approach to life...not for the world around you, but for your own return on investment. The work he's done has made an impact on the world and he shares how you can make a difference too (and it's much easier than you may think!)

We also share some bad news during our headline segment. The new inflation numbers are in and they're ugly with a capital "ugh." What does this mean though, really, for you? It turns out...a lot. We'll walk through inflation with regard to your job, your savings, your spending, and more. We'll also share why experts say that inflation isn't as ugly as the numbers may suggest.

Speaking of ugly...we'll also share a TikTok video that's gone viral recently about a job interview...or at least the "promise" of one. Somebody named Chuck might be cleaning out his desk now that this video's out. And, there's no better way to round out the show than by talking about franchise businesses during our Haven Life line call. Doug's trivia? Well that's just the cherry on top, isn't it?

Enjoy!

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Do you buy second-hand clothes instead of new? How about waiting to buy that special something until there's an awesome deal? Dumpster dive? Argue with clerks for a discount? There's a ton of frugal living tips out there but when does frugal cross the line and you're just being cheap? Today our roundtable team discusses the five times one blogger says that being frugal goes too far. Plus, we're performing this episode LIVE on the new Fireside app, so you'll hear from several members of our live audience, too (we've also linked their information below)!

Joining us for this special episode we welcome half of the Frugal Friends podcast duo, Jen Smith. Plus, OG and Paula Pant (Afford Anything) pitch in to make this a wide-ranging, fun conversation with more than several takeaways. We discuss the value of our time as it relates to purchases, the tendency to overconsume when we see a deal, and we'll all share some great stories about our own frugal living.

Of course, what would a Friday episode be like without our trivia challenge? Diania Merriam (EconoMe Conference) takes over the "Doug" duties today and dishes a great question for our contestants. Enjoy!

Enjoy!

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How do homemade ice cream and financial education go together? You're about to find out, because today we interview two of our fellow Stackers, Lisa and Tom, and one of them shares how they began making homemade ice cream for family and friends and teaching them finance basis! The other recently retired and gives us tips and advice that helped them make the exciting decision to retire.

During our headline segment, we talk about Wells Fargo and their recent decision to close all existing personal lines of credit. They've been in the news a lot over the years (mostly negative!) and we offer our thoughts. We'll also hear from Will Rhind, CEO of GraniteShares, who shares all the details about what's going on in the current precious metals market.

We'll finish it out with our Haven Life line call from Nick and answer his questions about 529 contributions. And of course we'll include some of Doug's trivia!

Enjoy!

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Rachel Richards achieved financial independence at the young age of 27. How did she do it? The now 29 year old joins us today to talk about lessons, strategies, and more on today's show. Plus, we'll share a headline about the current job climate. It seems that everyone is quitting their job! What should you think about before telling your boss adios? We'll share a few tips on today's show....plus throw out the Haven Life line to a lucky listener and share some of Doug's amazing trivia. Enjoy!

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With summer in full swing, do you need ideas for things to do with your kids? Before they start their first lemonade stand, listen to today’s episode about teaching kids about money. Even if you don’t have kids, we have Kate Ryan from TIAA join us to share money tips and stories that you’ll enjoy.

To finish out our rewind week, this episode aired in 2018, so be sure to ignore any mention of current events.

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Are you ready to win with your money? You've trained hard and now it's showtime. You're in luck because, just in time for the Olympics, we dig into all the money tips from Olympic sprinter, bobsledder, financial planner and host of the Worth Listening podcast, Lauryn Williams, on today's episode.

This episode aired in 2018 so be sure to ignore any mention of current events. Tax laws and changes are hard enough to keep up with and we originally had a headline segment talking about 2017 tax filing that has been omitted in this rewind episode. Take a look at our original show notes, here.

We'll round out our rewind week on Friday. Enjoy!

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While the first person to tell you that nothing good happens while you're using drugs will be today's guest Michael Brody-Waite, he WILL insist that the skills he learned in recovery are the same skills we all need for success with life and money. He should know. As a man who's walked the journey from drug addict to CEO and success coach, Michael funnels his darkest experiences into powerful lessons he'll share with you. Today, Michael will teach you how to rebalance your priorities, reclaim your energy, and thrive in both work and life.

A new bond has arrived! The Treasury announced a 20-year note to help offset the massive spending lately in Washington. We'll discuss how that works and may impact your wallet in our headlines segment. Also, we'll cover the results of a recent Morningstar study that shows why it is more important than you might thank to have a thorough financial plan and an (emotional) support network in place. It turns out that it's easy to stay the financial course when everything is going right. The problem is when panic starts to set in, not pressing that big, red "sell everything" button.

Today we'll throw out the Haven Life line to a caller a not-quite-usual question about loan repayment. Due to COVID-19 reasons, Vanessa was laid off from work. However, she was building up her savings beforehand. Vanessa also receives unemployment and severance pay. She wonders, "Should I use savings to pay off student loans? Or, would it be better to keep making minimum payments and keep her cash buffer?" Of course, Joe and OG have an opinion.

One last thing: Happy Twilight Zone Day! Doug has a special treat in store for you in celebration. Enjoy!

(This is a rewind episode from the summer of 2020, so there will be references to events and days that aren't current. Please keep this in mind as you listen.)

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Ever wish that saving money and spending less were easier? Today we've got your back because Chris Hutchins, Mr. Hack himself and host of the All The Hacks podcast, joins us to discuss a delicious list pulled from the popular Inspired Budget blog that lists a whopping 30 money hacks you should try in 2021. What hacks do you love that are missing from this list? On today's show recorded live on the new Fireside app, we're joined not only by Chris Hutchins but also Paula Pant (Afford Anything podcast) and Len Penzo (Len Penzo dot com) as they dive into their favorites (and also skewer one or two that they aren't as fond of). At the end of the discussion we'll ditch the list and this crack team will even add a few of their own.

Before we're done we'll also magnify Tom's money, who asks what we think about popular trading app Robinhood. You know us...this is going to be good! And of course we can't forget about Doug's trivia! He has a heart-wrenching question today. Literally.

Enjoy!

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Alan Corey had a small goal: he just wanted to pay his internet bill automatically, and in the process stumbled upon a strategy that would lead him to wealth in real estate at an early age. Today he joins us to share his journey to financial independence, from moving to NYC and realizing he couldn't control his income in the corporate world, to purchasing real estate with a goal of purchasing one property a year for five years. Fast forward and he's now buying five properties in a month! His unique thought process of using rental income to offset fixed costs in his life helped propel his real estate success. You'll also never guess who he sold his first property to in NYC!

For our headline, we'll look at a piece from Morningstar that talks about cryptocurrency in retirement plans. Would you want the option to invest in crypto in your 401k? We'll share the results of the survey and you might be surprised by the results.

We'll also throw out the Haven Life line to Bill who has questions about rebalancing his portfolio. And of course we'll also throw in some of Doug's trivia.

Enjoy!

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