Your Everyday Rich

Welcome back to another episode of Your Everyday Rich Podcast!

In Episode 35, Jason goes solo to interview his stock market trading mentor Eddy Li. 

During 2020 with people all locked down at home, day trading in the stock market became a massive phenomenon, prompting the rise and fall of meme stock and Wallstreetbets.  Many people made a fortune, but many more also lost it all.  Jason dabbled into trading for months, and it was during this time when Jason discovered Eddy through similar networks, and seeing first hand the possibilities of what trading can do for building a financial nest egg and creating financial freedom.

Eddy is a successful stock market investor and trader with 20 years of experience.  Having gone through several bull and bear cycles, and at one point losing all his money in the stock market, it took years to transition from value investor and learn how to trade properly to become profitable.  From learning English, getting bullied, hustling for money in grade school, to learning computers, his humble beginnings in the stock market started in the early 1999.  It was only during the meme stock era of 2020 that he entered the world of options trading and was able to capitalize on the wild market volatility to make multiple 7 figure day returns!  

Eddy shares the story his rough childhood growing up in a small town as an immigrant, how he navigates market crashes, his biggest daily win ever (it’s mind boggling big), what to focus on as a newbie trader, and his number 1 secret to becoming a successful trader.  You don’t want to miss his jaw dropping story.

Day trading options is extremely risky, even to a professional.  Do not attempt to trade options (or day trade at all) before understanding the inherent risk and nature of this stock market instrument.  But if properly executed, it can be a life skill that can lead to LIFE CHANGING money.

Why do these conversations matter? They matter because these convos are happening behind closed doors ansd we want them to be front and centre so you can be empowered to achieve financial success.  You don’t know what you don’t know but we are here to change that and provide you with the info, insight, and tips you can use to make the best decisions around your money and investing so that it is built around Your Everyday Rich life. 🚀

🚀🚀🚀 To learn stock trading and get day trading mentorship from Eddy use our affiliate link below:

https://www.licapitaltrading.com/a/dq7jn

Follow Jason and Jenn’s social media:

Jason’s Instagram: ⁠https://www.instagram.com/mrjasonkao⁠

Jenn’s Instagram: ⁠https://www.instagram.com/jennfahh27⁠

Your Everyday Rich instagram ⁠https://www.instagram.com/youreverydayrich⁠

Youtube: ⁠https://www.youtube.com/@youreverydayrich⁠

DM us or leave a comment! We want to hear what you think are important living room convos!

Listen on:

Apple:⁠ ⁠⁠https://podcasts.apple.com/us/podcast/your-everyday-rich/id1676179014\⁠

Spotify: ⁠https://open.spotify.com/show/1JHf9dfrh1xrQ8on5sPQIg⁠

Disclaimer

Your Everyday Rich Podcast is presented solely for general informational, educational, and entertainment purposes. Any such information or other material referenced in this podcast should not be construed as legal, tax, investment, financial, or other advice. It is not intended as a substitute for the advice of a qualified professional.

Welcome back to another episode of Your Everyday Rich Podcast!

In Episode 34, Jenn and Jason talk shop about Tax-Free Savings Accounts (TFSA) and Registered Retirement Savings Plans (RRSP). Which is better for retirement?  Often debated as the Jordan vs LeBron argument for two popular Canadian investment vehicles, there are a few things that should be considered when picking which Allstar should lead your investing accounts.  They explain the differences between these two accounts, including tax benefits and contribution limits. Additionally, they highlight the importance of considering your income level when deciding whether to invest in an RRSP or TFSA.

It gets juicy when Jason and Jenn delve into the complexities of withdrawing funds from an RRSP, particularly when you reach your retirement. No one talks about how to withdraw the money during retirement or the process.  This conversation really started after hearing their parents try to figure out all the details around withdrawing funds from RRSP’s and why maybe contributing could be a negative. They also touch upon the potential drawbacks of contributing to an RRSP, such as converting into RRIF at a defined age and  the difficulties in withdrawing large sums without incurring high taxes and losing government benefits like the Old Age Security (OAS). 

This episode really stresses the importance of understanding the long-term implications of your investment choices and the potential challenges you may face when accessing your funds in retirement.  The conversation underscores the need to continually adapt these strategies as personal circumstances change and to stay informed about evolving government rules and benefits for an effective approach to retirement planning.

Why do these conversations matter? They matter because these convos are happening behind closed doors and we want them to be front and centre so you can be empowered to achieve financial success.  You don’t know what you don’t know but we are here to change that and provide you with the info, insight, and tips you can use to make the best decisions around your money and investing so that it is built around Your Everyday Rich life. 🚀

Follow Jason and Jenn’s social media:

Jason’s Instagram: ⁠https://www.instagram.com/mrjasonkao⁠

Jenn’s Instagram: ⁠https://www.instagram.com/jennfahh27⁠

Your Everyday Rich instagram ⁠https://www.instagram.com/youreverydayrich⁠

Youtube: ⁠https://www.youtube.com/@youreverydayrich⁠

DM us or leave a comment! We want to hear what you think are important living room convos!

Listen on:

Apple:⁠ ⁠⁠https://podcasts.apple.com/us/podcast/your-everyday-rich/id1676179014\⁠

Spotify: ⁠https://open.spotify.com/show/1JHf9dfrh1xrQ8on5sPQIg⁠

Disclaimer

Your Everyday Rich Podcast is presented solely for general informational, educational, and entertainment purposes. Any such information or other material referenced in this podcast should not be construed as legal, tax, investment, financial, or other advice. It is not intended as a substitute for the advice of a qualified professional.

Welcome back to another episode of Your Everyday Rich Podcast!

In Episode 33, Jenn and Jason are serving up a Thanksgiving-themed episode with a side of inflation discussion. Despite dealing with the remnants of a persistent cough, the hosts dive into the challenges of navigating Thanksgiving during an era of rising costs. Sipping on Oktoberfest drinks they serve up an pre drink of a living room convo on how inflation’s impact isn't uniform across society as it often hits lower-income households the hardest.

As an appetizer, they share their observations about the resilience of the consumer market despite rising inflation and express their surprise about people's spending habits during these times. They also touch on the impact of inflation on different income groups, noting that it tends to affect lower-income individuals more significantly.

With the main course, Jenn and Jason delve into strategies for dealing with inflation. They emphasize the importance of finding ways to increase your income, as well as being disciplined in your spending habits, building up cash reserves, and how even small increments can significantly impact your finances.

Why do these conversations matter? They matter because these convos are happening behind closed doors and we want them to be front and centre so you can be empowered to achieve financial success.  You don’t know what you don’t know but we are here to change that and provide you with the info, insight, and tips you can use to make the best decisions around your money and investing so that it is built around Your Everyday Rich life. 🚀

Follow Jason and Jenn’s social media:

Jason’s Instagram: ⁠https://www.instagram.com/mrjasonkao⁠

Jenn’s Instagram: ⁠https://www.instagram.com/jennfahh27⁠

Your Everyday Rich instagram ⁠https://www.instagram.com/youreverydayrich⁠

Youtube: ⁠https://www.youtube.com/@youreverydayrich⁠

DM us or leave a comment! We want to hear what you think are important living room convos!

Listen on:

Apple:⁠ ⁠⁠https://podcasts.apple.com/us/podcast/your-everyday-rich/id1676179014\⁠

Spotify: ⁠https://open.spotify.com/show/1JHf9dfrh1xrQ8on5sPQIg⁠

Disclaimer

Your Everyday Rich Podcast is presented solely for general informational, educational, and entertainment purposes. Any such information or other material referenced in this podcast should not be construed as legal, tax, investment, financial, or other advice. It is not intended as a substitute for the advice of a qualified professional.

Welcome to another episode of "Your Everyday Rich" podcast.  *Raspy voice edition*

In this episode of "Your Everyday Rich" podcast, Jason and Jen discuss the concept of work-life balance. They emphasize that this traditional notion of balance between work and personal life doesn't exist in the way it's often portrayed. Instead, they propose a more flexible approach, portraying it as more of a pendulum swinging between different life priorities rather than a strict equilibrium.

The hosts share their personal experiences, highlighting how their priorities have shifted over the years, particularly with a focus on family. 

They acknowledge that the boundary between work and personal life has blurred, exacerbated by the prevalence of smartphones and email communication. While they discuss setting personal boundaries for different phases of life and different moments, they emphasize that priorities should dictate those boundaries.

They encourage listeners to determine their own priorities and not blindly follow social media trends or advice from others especially when it comes to investing. They stress the importance of aligning your career with your life goals and how this can impact your overall happiness and success.

This episode challenges the idea of work-life balance and suggests that it's essential to adapt and prioritize based on your current life phase and circumstances.

Why do these conversations matter? They matter because these convos are happening behind closed doors and we want them to be front and centre so you can be empowered to achieve financial success.  You don’t know what you don’t know but we are here to change that and provide you with the info, insight, and tips you can use to make the best decisions around your money and investing so that it is built around Your Everyday Rich life. 🚀

Follow Jason and Jenn’s social media:

Jason’s Instagram: ⁠https://www.instagram.com/mrjasonkao⁠

Jenn’s Instagram: ⁠https://www.instagram.com/jennfahh27⁠

Your Everyday Rich instagram: ⁠https://www.instagram.com/youreverydayrich⁠

Youtube: ⁠https://www.youtube.com/@youreverydayrich⁠

DM us or leave a comment! We want to hear what you think are important living room convos!

Listen on:

Apple:⁠ ⁠⁠https://podcasts.apple.com/us/podcast/your-everyday-rich/id1676179014\⁠

Spotify: ⁠https://open.spotify.com/show/1JHf9dfrh1xrQ8on5sPQIg⁠

Disclaimer

Your Everyday Rich Podcast is presented solely for general informational, educational, and entertainment purposes. Any such information or other material referenced in this podcast should not be construed as legal, tax, investment, financial, or other advice. It is not intended as a substitute for the advice of a qualified professional.

Welcome to another episode of "Your Everyday Rich" podcast. 

In Episode 31, Jason and Jennifer reflect on their recent experience with their son, Joshua, going through his first select/rep baseball tryouts. 

Witnessing their sons’s first time being in a more competitive environment was an interesting experience and watching him go through the physical as well as the emotional aspects of it was a lesson that they all will never forget.

As parents, Jason and Jennifer were also going through the emotional roller coaster themselves all while trying to help their son navigate through his own emotions.

Life experiences like these help us all grow as people regardless of age. Success and failures provide valuable lessons and experiences along the way.  They are part of the process and we should also recognize that they are not the ultimate destinations but rather stepping stones in our personal growth.   

Why do these conversations matter? They matter because these convos are happening behind closed doors and we want them to be front and centre so you can be empowered to achieve financial success.  You don’t know what you don’t know but we are here to change that and provide you with the info, insight, and tips you can use to make the best decisions around your money and investing so that it is built around Your Everyday Rich life. 🚀

Welcome to another episode of "Your Everyday Rich" podcast. 

In Episode 30, Jason and Jennifer celebrate their recent 10th wedding anniversary and talk about insights about their decade long journey.

They've learned that spending quality time apart and embracing personal hobbies is vital. They've discovered that roles and responsibilities in a relationship evolve over time, requiring adaptability and support.

Jason and Jen also stress the evolution of date nights, moving beyond traditional romantic dinners to incorporate deeper discussions about future goals and aspirations.

Additionally, they emphasize the importance of picking battles wisely and resolving concerns constructively. Their ultimate message is clear: choosing the right partner is one of life's most crucial decisions, impacting various aspects of life, including finances and family planning.

They also share some funny stories about themselves such as weird habits they learned about each other while getting accustomed to being married. There are several LOL moments in this episode.

Why do these conversations matter? They matter because these convos are happening behind closed doors and we want them to be front and centre so you can be empowered to achieve financial success.  You don’t know what you don’t know but we are here to change that and provide you with the info, insight, and tips you can use to make the best decisions around your money and investing so that it is built around Your Everyday Rich life. 🚀

Follow Jason and Jenn’s social media:

Jason’s Instagram: ⁠https://www.instagram.com/mrjasonkao⁠

Jenn’s Instagram: ⁠https://www.instagram.com/jennfahh27⁠

Your Everyday Rich instagram ⁠https://www.instagram.com/youreverydayrich⁠

Youtube: ⁠https://www.youtube.com/@youreverydayrich⁠

DM us or leave a comment! We want to hear what you think are important living room convos!

Listen on:

Apple:⁠ ⁠⁠https://podcasts.apple.com/us/podcast/your-everyday-rich/id1676179014\⁠

Spotify: ⁠https://open.spotify.com/show/1JHf9dfrh1xrQ8on5sPQIg⁠

Disclaimer

Your Everyday Rich Podcast is presented solely for general informational, educational, and entertainment purposes. Any such information or other material referenced in this podcast should not be construed as legal, tax, investment, financial, or other advice. It is not intended as a substitute for the advice of a qualified professional.

Welcome to another episode of "Your Everyday Rich" podcast. 

In Episode 29, Jason and Jennifer discuss a living room conversation about the question of maternity leave and its impact on women's careers. They discuss the financial aspects of extended maternity leave, including the cost of childcare and the trade-offs between being a stay-at-home parent and returning to work. They also emphasize the importance of personal fulfillment and maintaining career skills during this time. Additionally, they highlight the changing landscape of entrepreneurship (while still working a 9-5) and the opportunities it offers to individuals, including stay-at-home parents.

Overall, Jason and Jenn encourage you to consider your own unique circumstances, values, and aspirations when making decisions about maternity leave and their careers. They emphasize that these decisions should not be solely driven by financial concerns but should also encompass personal development and fulfillment.

Why do these conversations matter? They matter because these convos are happening behind closed doors and we want them to be front and centre so you can be empowered to achieve financial success.  You don’t know what you don’t know but we are here to change that and provide you with the info, insight, and tips you can use to make the best decisions around your money and investing so that it is built around Your Everyday Rich life. 🚀

Follow Jason and Jenn’s social media:

Jason’s Instagram: ⁠https://www.instagram.com/mrjasonkao⁠

Jenn’s Instagram: ⁠https://www.instagram.com/jennfahh27⁠

Your Everyday Rich instagram ⁠https://www.instagram.com/youreverydayrich⁠

Youtube: ⁠https://www.youtube.com/@youreverydayrich⁠

DM us or leave a comment! We want to hear what you think are important living room convos!

Listen on:

Apple:⁠ ⁠⁠https://podcasts.apple.com/us/podcast/your-everyday-rich/id1676179014\⁠

Spotify: ⁠https://open.spotify.com/show/1JHf9dfrh1xrQ8on5sPQIg⁠

Disclaimer

Your Everyday Rich Podcast is presented solely for general informational, educational, and entertainment purposes. Any such information or other material referenced in this podcast should not be construed as legal, tax, investment, financial, or other advice. It is not intended as a substitute for the advice of a qualified professional.

Welcome to another episode of "Your Everyday Rich" podcast. 

In Episode 28, Jason and Jennifer discuss the costs associated with raising children. They reflect on various stages of a child's life, from infancy to adolescence, and the changing expenses that come with each stage. They talk about the rising costs of childcare, extracurricular activities, food, and even the financial burden of infertility treatments, such as IVF, for couples struggling to conceive. 

As always, they focus on the financial aspects of parenting, particularly within the context of millennial Asian immigrant households.

Jason and Jenn emphasize the importance of being financially prepared for the expenses that come with parenthood and how it's essential to plan and budget accordingly. While raising children is an emotionally rewarding experience, it's crucial for parents to be aware of and plan for the financial aspects. Because ultimately, we all want to provide the best opportunities for our children.

Why do these conversations matter? They matter because these convos are happening behind closed doors and we want them to be front and centre so you can be empowered to achieve financial success.  You don’t know what you don’t know but we are here to change that and provide you with the info, insight, and tips you can use to make the best decisions around your money and investing so that it is built around Your Everyday Rich life. 🚀

Follow Jason and Jenn’s social media:

Jason’s Instagram: ⁠https://www.instagram.com/mrjasonkao⁠

Jenn’s Instagram: ⁠https://www.instagram.com/jennfahh27⁠

Your Everyday Rich instagram ⁠https://www.instagram.com/youreverydayrich⁠

Youtube: ⁠https://www.youtube.com/@youreverydayrich⁠

DM us or leave a comment to get exclusive access to our NETWORTH calculator! 📲📩⌨️

Listen on:

Apple:⁠ ⁠⁠https://podcasts.apple.com/us/podcast/your-everyday-rich/id1676179014\⁠

Spotify: ⁠https://open.spotify.com/show/1JHf9dfrh1xrQ8on5sPQIg⁠

Disclaimer

Your Everyday Rich Podcast is presented solely for general informational, educational, and entertainment purposes. Any such information or other material referenced in this podcast should not be construed as legal, tax, investment, financial, or other advice. It is not intended as a substitute for the advice of a qualified professional.

Welcome to another episode of "Your Everyday Rich" podcast. 

In Episode 27, Jason and Jennifer get into a living room convo about the challenges posed by herd mentality when it comes to the financial markets and investing, and how that impacts your money. With candid conversations and personal experiences, they explore the impact of blindly following trends, the dark psychological side of social media influence, and jumping into investments without understanding why. Through anecdotes and personal insights, they emphasize the importance of education, emotional control, and disciplined decision-making to avoid falling into the herd mentality trap. Tune in to gain valuable strategies for more informed and confident investing.

Follow Jason and Jenn’s social media:

Jason’s Instagram: ⁠https://www.instagram.com/mrjasonkao⁠

Jenn’s Instagram: ⁠https://www.instagram.com/jennfahh27⁠

Your Everyday Rich instagram ⁠https://www.instagram.com/youreverydayrich⁠

Youtube: ⁠https://www.youtube.com/@youreverydayrich⁠

DM us or leave a comment to get exclusive access to our NETWORTH calculator! 📲📩⌨️

Listen on:

Apple:⁠ ⁠⁠https://podcasts.apple.com/us/podcast/your-everyday-rich/id1676179014\⁠

Spotify: ⁠https://open.spotify.com/show/1JHf9dfrh1xrQ8on5sPQIg⁠

Disclaimer

Your Everyday Rich Podcast is presented solely for general informational, educational, and entertainment purposes. Any such information or other material referenced in this podcast should not be construed as legal, tax, investment, financial, or other advice. It is not intended as a substitute for the advice of a qualified professional.

Welcome to another episode of "Your Everyday Rich" podcast. 

In Episode 26, Jason and Jennifer get into a chat about how the interest rates are playing out in August 2023 and how it's influencing the whole "should I pay off my mortgage or invest" argument.

They delve into scenarios based on fixed and variable interest rates, pondering the financial challenges of simultaneously managing mortgage payments and investments, especially when income, debt levels, and life stages vary. They emphasize the psychological relief of paying down mortgages early in high-interest rate environments, as it offers peace of mind and reduces potential future financial strains. J&J also touch on the concept of home equity lines of credit (HELOC), which allows homeowners to unlock equity for potential investment opportunities, promoting financial leverage aka using banks money, something they were able to tap into to launch their real estate portfolio.

Jason and Jenn point out how where you are in life matters, and they toss in some real talk about figuring out what feels right for you, your comfort level, and your big-picture financial goals when it comes to this topic.  

Why do these conversations matter? They matter because these convos are happening behind closed doors and we want them to be front and centre so you can be empowered to achieve financial success.  You don’t know what you don’t know but we are here to change that and provide you with the info, insight, and tips you can use to make the best decisions around your money and investing so that it is built around Your Everyday Rich life. 🚀

In this episode we chop it up about:

Shout out to Kevin Huynh of Empire mortgage group Episode 6, DM him to understand how to navigate purchasing a home in this high interest rate environment

Looking to understand what to do about debt, go to Episode 25 to learn.

Follow Jason and Jenn’s social media:

Jason’s Instagram: ⁠https://www.instagram.com/mrjasonkao⁠

Jenn’s Instagram: ⁠https://www.instagram.com/jennfahh27⁠

Your Everyday Rich instagram ⁠https://www.instagram.com/youreverydayrich⁠

Youtube: ⁠https://www.youtube.com/@youreverydayrich⁠

DM us or leave a comment to get exclusive access to our NETWORTH calculator! 📲📩⌨️

Listen on:

Apple:⁠ ⁠⁠https://podcasts.apple.com/us/podcast/your-everyday-rich/id1676179014\⁠

Spotify: ⁠https://open.spotify.com/show/1JHf9dfrh1xrQ8on5sPQIg⁠

Disclaimer

Your Everyday Rich Podcast is presented solely for general informational, educational, and entertainment purposes. Any such information or other material referenced in this podcast should not be construed as legal, tax, investment, financial, or other advice. It is not intended as a substitute for the advice of a qualified professional.