Watching Trees Grow

Join Troutwood CEO Gene Natali for a quick episode on how to build a budget and build it well - in 3 steps!

Wondering how to get started on this easy 3-step budget? Listen to this episode of the Watching Trees Grow podcast to find out. 

Don’t be intimidated by finance lingo. A budget is a plan for saving and spending money, and it doesn’t need to be overly complex for it to work.

A simple budget shows your income and your expenses. The BIG goal is for your expenses to be less than your income. 

What is a 529 plan and why do you need one? On this week’s episode, Gene calls on the Mary Morris, CEO of the Virginia 529, to discuss the in’s and out’s of the plan and why everyone can, and should, have one! A four year college might not be for everyone, but that doesn’t mean you can’t have a plan. Apprenticeships, living expenses, certifications… the list goes on. Listen to hear why Mary and Gene agree that a 529 plan is a great investment into your, and your family’s, futures! 

Read more on the blog: https://blog.troutwood.com/2022/04/11/what-is-a-529/

In this Speaker Series episode, Greg McBride, Chief Financial Analyst for bankrate.com, joins the podcast. Greg is an advocate for financial literacy and education and has made it his life work to help bring resources and financial tools to young people.

Greg talks about his favorite Bankrate: Guiding you through life's financial journey tools, tips for opening your first credit card, maintaining a good credit score and the importance of saving.

Nervous about credit, debt, and how to get started? This episode is for you!

Did you know? You will also see Greg’s name on the back cover of Gene’s award winning book, The Missing Semester. First published in 2013, and updated in 2020, Greg provided an editorial review for the book.

Learn more at https://www.bankrate.com

Gene continues last week’s conversation on the importance of emergency preparedness. Rachel joins Gene on the podcast to talk more in depth about accessing your assets in an emergency. When does liquidity and easy access to your money become too tempting and too accessible?

What is Emergency preparedness? Maybe you’re prepared for an environmental emergency, but what about a health emergency or job loss? Gene and Jeff were inspired by the student questions while teaching a course at Grove City College. Gene answers some of those questions in this episode and how YOU can be prepared for anything!

0:26 Welcome

0:40 What is emergency preparedness?

1:05 – What inspired this episode

2:05 – Two most common emergency situations

2:32 – Two categories

2:45 – Financial capital and human capital

3:10 – Question to students: How do I even know where to start?

3:23 – Nine categories for the financial capital portion

4:46 – 401k

5:29 – Roth IRA

5:47 – Asset Allocation

6:17 – Sources of income

6:59 – Reducing and prioritizing debt

7:37 – Mandatory bills and expenses

8:17 – Recap of 9 Catagories for Financial Capital

9:00 – Human Capital

9:06 – What is human capital?

9:17 – Why human capital maters

10:53 – Certifications, job training, higher education

11:43 – Recap human capital

12:39 – End

Gene and Kweku discuss the ABC’s of investment Consulting, and share lessons that individual investors can learn from investment consultants. Marquette Associates is an investment consultant based in Chicago, Illinois. The company consults on 255 billion dollars of client assets. Kweku is a managing director for Marquette Associates and serves on the firm’s board of directors. Individuals can learn a great deal from the institutional investment model, and the approach that investment consultants apply to client portfolios. Gene and Kweku are uniquely positioned to have this important conversation.

In addition to a combined nearly 40 years of institutional experience, both have authored financial literacy books for students, and are passionate about helping individuals better understand their money choices. Kweku’s book, “Talking about the ABC’s of Financial Literacy” served as inspiration for the episode title.

Becoming a life-long investor doesn't happen over night. We know that. That's why we made a simulation for you to practice! In this episode, Gene and Jeff talk about the inspiration behind Buy Sell Hold and how you can use it to up your investing game!

Download the game here! https://apps.apple.com/gb/app/buy-sell-hold/id1530137002

Timestamps

0:29 - Intro

0:58 - Jeff explaining Buy Sell Hold

1:39 - Data points that helped build BSH

2:21 - Learning about investing in the class, this game is for you

2:41 - Can you beat Finn?

3:17 - It takes 30-60 seconds to play a single game

3:43 - Only 2% of players beat Finn

3:54 - Over 100 years worth of data

4:11 - Educators, parents, grandparents, and kids

4:34 - Prior to Troutwood, Gene and Jeff share their history

5:22 - Why aren't individuals getting ahead like institutional investors with their money?

5:56 - This isn't your typical influencer bragging about a 10% return on a stock 

7:09 - Gene has students play BSH in the classroom every week

7:53 - Challenge to educators

8:20 - You can start the game at $1, $5, or $10 per day

9:33 - two most powerful lessons from BSH

10:15 - end

What are the right financial questions to ask as you start your first job?

How do you start to file your own taxes for the very first time?

And more importantly, to whom do you ask these questions? In this episode, Gene tackles an email from a student that includes a lot of the "right questions" to ask about being an adult! Listen in to hear Gene's insights.

Have questions of your own? Email Gene at [email protected]

Only 15% of high school seniors will graduate with a financial plan, but 100% will make personal financial decisions.

Are your debt decisions helping or hurting your long-term financial goals? Gene talks about the importance of understanding types of debt and using debt to your advantage.

Interest rates have been in the news recently. How does a change in the federal interest rate affect me? From students to homeowners, everyone can feel an impact. Gene covers the basics in this short episode about interest rates and debt!