Today we’re talking about our simple strategy for owning and managing rental properties. We have a course called Rental Properties for Passive Investors and we got some feedback that we think it’s important to address.Show NotesInvestableRental Properties For Passive Investors CourseStart Investing with Roofstock Learn more about your ad choices. Visit megaphone.fm/adchoices

Today we’re talking about our simple strategy for owning and managing rental properties. We have a course called Rental Properties for Passive Investors and we got some feedback that we think it’s important to address.Show Notes<a href="https://getinvestable.co/" rel="nofollow" target="_blank">Investable</a><a href="https://learn.listenmoneymatters.com/rental-properties-for-passive-investors?coupon=PRESALE_PODCAST" rel="nofollow" target="_blank">Rental Properties For Passive Investors Course</a>Start Investing with <a href="https://www.listenmoneymatters.com/roofstock/?src=display_box" rel="nofollow" target="_blank">Roofstock</a> Learn more about your ad choices. Visit <a href="https://megaphone.fm/adchoices" rel="nofollow" target="_blank">megaphone.fm/adchoices</a>

A Simple Strategy for Rental Properties

Marc Randolph

Today we have a guest on the show - the Co-Founder and first CEO of Netflix. Marc Randolph to talk about his new book That Will Never work. The real-life, totally improbable story of Netflix’s early days, told in Marc Randolph’s unconventional, engaging, inspiring style. A vivid primer on the realities of startup ventures, and a seriously entertaining read. Now a National Bestseller.Show Noteshttps://www.marcrandolph.com/ Learn more about your ad choices. Visit megaphone.fm/adchoices

Today we have a guest on the show - the Co-Founder and first CEO of Netflix. Marc Randolph to talk about his new book That Will Never work. The real-life, totally improbable story of Netflix’s early days, told in Marc Randolph’s unconventional, engaging, inspiring style. A vivid primer on the realities of startup ventures, and a seriously entertaining read. Now a National Bestseller. Show Notes<a href="https://www.marcrandolph.com/" rel="nofollow" target="_blank">https://www.marcrandolph.com/</a> Learn more about your ad choices. Visit <a href="https://megaphone.fm/adchoices" rel="nofollow" target="_blank">megaphone.fm/adchoices</a>

That Will Never Work with Netflix Co-Founder Marc Randolph

Is there’s an index fund bubble? Today we’re talking about how index funds are taking over and how the state of index funds should affect how you invest. Learn more about your ad choices. Visit megaphone.fm/adchoices

Is there’s an index fund bubble? Today we’re talking about how index funds are taking over and how the state of index funds should affect how you invest. Learn more about your ad choices. Visit <a href="https://megaphone.fm/adchoices" rel="nofollow" target="_blank">megaphone.fm/adchoices</a>

The Great Index Fund Takeover

Today we’re taking a look at how the Golden Butterfly has performed in the recent market correction compared to other investment strategies. We will be looking at The Golden Butterfly, The All Weather Portfolio; and Vanguard’s Total Stock Index and we’re going to compare each portfolio by pretending you had $100,000 perfectly allocated in each strategy as of October 2, 2019 (before COVID-19) and compare it to the portfolio’s value as of April 1, 2020 (6 months later).Show NotesRental Properties for Passive Investors- An LMM course on our proven, data-driven approach to building a portfolio of income-producing rental properties that perform in the long-term.  Use this link to get $50 off the course.Portfoliocharts.com - Portfolio Charts explores practical worldwide index investing strategies using intuitive charts and real-world examples that look beyond the raw numbers Learn more about your ad choices. Visit megaphone.fm/adchoices

Today we’re taking a look at how the Golden Butterfly has performed in the recent market correction compared to other investment strategies. We will be looking at The Golden Butterfly, The All Weather Portfolio; and Vanguard’s Total Stock Index and we’re going to compare each portfolio by pretending you had $100,000 perfectly allocated in each strategy as of October 2, 2019 (before COVID-19) and compare it to the portfolio’s value as of April 1, 2020 (6 months later).Show NotesRental Properties for Passive Investors- An LMM course on our proven, data-driven approach to building a portfolio of income-producing rental properties that perform in the long-term. <a href="https://learn.listenmoneymatters.com/rental-properties-for-passive-investors?coupon=PODCAST" rel="nofollow" target="_blank">Use this link to get $50 off the course.</a><a href="https://portfoliocharts.com/portfolios/" rel="nofollow" target="_blank">Portfoliocharts.com</a> - Portfolio Charts explores practical worldwide index investing strategies using intuitive charts and real-world examples that look beyond the raw numbers Learn more about your ad choices. Visit <a href="https://megaphone.fm/adchoices" rel="nofollow" target="_blank">megaphone.fm/adchoices</a>

Golden Butterfly Update - Will It Weather The Storm

Today is 5 questions episode and we will be talking about foreclosures as a real estate investment, coding bootcamps, timing the market, Fundrise IPO and managing financial goals in your relationship. Learn more about your ad choices. Visit megaphone.fm/adchoices

Today is 5 questions episode and we will be talking about foreclosures as a real estate investment, coding bootcamps, timing the market, Fundrise IPO and managing financial goals in your relationship. Learn more about your ad choices. Visit <a href="https://megaphone.fm/adchoices" rel="nofollow" target="_blank">megaphone.fm/adchoices</a>

5 Questions: Foreclosures, Bootcamps and Timing The Market

It is no secret that Andrew and I each own multiple online businesses that earn us passive income. Before we started we had no idea what we were doing. It’s not easy to start a website from scratch and if you’re not already building an online business you might not even know what a great idea looks like. Today we’re talking about how you can buy an existing online business. We have a special guest on the show today, Blake Hutchinson, the CEO of Flippa.com. We’ll get into the details of buying on the platform, what to look for, and how to properly value an online business. Learn more about your ad choices. Visit megaphone.fm/adchoices

It is no secret that Andrew and I each own multiple online businesses that earn us passive income. Before we started we had no idea what we were doing. It’s not easy to start a website from scratch and if you’re not already building an online business you might not even know what a great idea looks like. Today we’re talking about how you can buy an existing online business. We have a special guest on the show today, Blake Hutchinson, the CEO of <a href="http://Flippa.com" rel="nofollow" target="_blank">Flippa.com</a>. We’ll get into the details of buying on the platform, what to look for, and how to properly value an online business. Learn more about your ad choices. Visit <a href="https://megaphone.fm/adchoices" rel="nofollow" target="_blank">megaphone.fm/adchoices</a>

How to Buy Income-Producing Websites 

Today we are talking about payday loans or what some new fin-tech companies are now calling “early wage access”. These companies seem to be disguising predatory lending with shiny new apps geared towards millennials making it even easier to get a payday loan. Learn more about your ad choices. Visit megaphone.fm/adchoices

Today we are talking about payday loans or what some new fin-tech companies are now calling “early wage access”. These companies seem to be disguising predatory lending with shiny new apps geared towards millennials making it even easier to get a payday loan. Learn more about your ad choices. Visit <a href="https://megaphone.fm/adchoices" rel="nofollow" target="_blank">megaphone.fm/adchoices</a>

The Modern Payday Loan

Today is 5 questions episode and we will be talking about dividend stocks, The Fisher Effect, employees stock options. non-taxable accounts and what to do if history repeats itself. Learn more about your ad choices. Visit megaphone.fm/adchoices

Today is 5 questions episode and we will be talking about dividend stocks, The Fisher Effect, employees stock options. non-taxable accounts and what to do if history repeats itself. Learn more about your ad choices. Visit <a href="https://megaphone.fm/adchoices" rel="nofollow" target="_blank">megaphone.fm/adchoices</a>

5 Questions: Dividend Stocks, The Fisher Effect and  Employee Stock Options

Today is we are talking about the Rule of 55. We’ve gotten quite a few listeners who have asked us to cover this so today we wanted to explain exactly what it is and how it works. The Rule of 55 isn’t the only way to access your 401k early so, were also talking about other ways to tap into your 401k and what would be the right reasons to take advantage of these early distributions Learn more about your ad choices. Visit megaphone.fm/adchoices

Today is we are talking about the Rule of 55. We’ve gotten quite a few listeners who have asked us to cover this so today we wanted to explain exactly what it is and how it works. The Rule of 55 isn’t the only way to access your 401k early so, were also talking about other ways to tap into your 401k and what would be the right reasons to take advantage of these early distributions Learn more about your ad choices. Visit <a href="https://megaphone.fm/adchoices" rel="nofollow" target="_blank">megaphone.fm/adchoices</a>

The Rule of 55, Explained

Today we are answering a question from a listener, Andres about buying into a franchise and how they look as business opportunity. We get into actual franchise profitability, compare two popular franchises and explain how one franchisee makes over $2 billion a year.Show NotesFranchise Index Learn more about your ad choices. Visit megaphone.fm/adchoices

Today we are answering a question from a listener, Andres about buying into a franchise and how they look as business opportunity. We get into actual franchise profitability, compare two popular franchises and explain how one franchisee makes over $2 billion a year. Show Notes<a href="%20https://www.entrepreneur.com/franchises/" rel="nofollow" target="_blank">Franchise Index</a> Learn more about your ad choices. Visit <a href="https://megaphone.fm/adchoices" rel="nofollow" target="_blank">megaphone.fm/adchoices</a>

To Franchise Or Not To Franchise

Honest and uncensored - this is not your father’s boring finance show. This show brings much needed ACTIONABLE advice to a people who hate being lectured about personal finance from the out-of-touch one percent. Andrew and Matt are relatable, funny, and brash. Their down-to-earth discussions about money are entertaining whether you’re a financial whiz or just starting out. To be a part of the show and get your financial questions answered, send an email to listenmoneymatters@gmail.com.

Have you released anything over the last couple of weeks?

Any new episodes?

Easy to follow, entertaining hosts and a ton of valuable information.

Best Personal Finance Podcast

Listen Money Matters - Free your inner financial badass. All the stuff you should know about personal finance.

Accordingly to the Fidelity Millionaire Outlook Survey, 86% of millionaires are self-made. Even more remarkable, 78% of them started out as middle class or poor. Only 22% grew up in the upper class. That means that the vast majority of millionaires built their wealth the old fashioned way: hard work, consistent saving and investing in the long-term.We’ll explain why rich people are cheap and how you can adopt their simple habits to become a millionaire yourself.Show NotesWarren Buffett Documentary HBOHoneyMrBeast Spending 1,000,000 in 24 Hours Learn more about your ad choices. Visit megaphone.fm/adchoices

Accordingly to the Fidelity Millionaire Outlook Survey, 86% of millionaires are self-made. Even more remarkable, 78% of them started out as middle class or poor. Only 22% grew up in the upper class. That means that the vast majority of millionaires built their wealth the old fashioned way: hard work, consistent saving and investing in the long-term.We’ll explain why rich people are cheap and how you can adopt their simple habits to become a millionaire yourself. Show Notes<a href="https://www.amazon.com/Becoming-Warren-Buffet-Buffett/dp/B01MSBOHUM" rel="nofollow" target="_blank">Warren Buffett Documentary HBO</a><a href="https://www.listenmoneymatters.com/honey-review/" rel="nofollow" target="_blank">Honey</a><a href="https://www.youtube.com/watch?v=bs0SWXbty18" rel="nofollow" target="_blank">MrBeast Spending 1,000,000 in 24 Hours</a> Learn more about your ad choices. Visit <a href="https://megaphone.fm/adchoices" rel="nofollow" target="_blank">megaphone.fm/adchoices</a>

Why Rich People are Cheap

We get dozens of emails from listeners each week asking really insightful financial questions. When a question needs a detailed answer or is of interest to a lot of people, we turn it into part of a 5 questions episode. Today we have 5 questions about spending a raise wisely, investing in a bull market, what to do with an inheritance, how to pay for an engagement ring, investing in weed stocks, and a bonus question about gold.Full Article HereShow NotesBoont Barl: An amber ale.Dogfish Head SeaQuench: A sour ale. Learn more about your ad choices. Visit megaphone.fm/adchoices

We get dozens of emails from listeners each week asking really insightful financial questions. When a question needs a detailed answer or is of interest to a lot of people, we turn it into part of a 5 questions episode. Today we have 5 questions about spending a raise wisely, investing in a bull market, what to do with an inheritance, how to pay for an engagement ring, investing in weed stocks, and a bonus question about gold.<a href="%20https://www.listenmoneymatters.com/5-questions-august-2019/" rel="nofollow" target="_blank">Full Article Here</a>Show Notes<a href="https://avbc.com/our-beers/boont-barl-bourbon-barrel-amber-ale/" rel="nofollow" target="_blank">Boont Barl:</a> An amber ale.<a href="https://www.dogfish.com/blog/our-new-session-sour-seaquench-ale-finally-here" rel="nofollow" target="_blank">Dogfish Head SeaQuench:</a> A sour ale. Learn more about your ad choices. Visit <a href="https://megaphone.fm/adchoices" rel="nofollow" target="_blank">megaphone.fm/adchoices</a>

5 Questions: Weed, Buying an Engagement Ring, and Bull Markets

Adam Carroll joins us to discuss how to actually save thousands on your mortgage with home equity lines of credit. When we interviewed Adam for our new Rich Tips series, he mentioned how he is paying off his mortgage years ahead of schedule and saving thousands of dollars in interest. We were intrigued and asked him to join us to explain his strategy in greater detail. What Is A Home Equity Line Of Credit? A home equity line of credit, HELOC, is “An open ended line of credit extended to a homeowner that uses the borrower’s home as collateral. Once a maximum loan balance is established, the homeowner may draw on the line of credit at his or her discretion. Interest is charged on a predetermined variable rate, which is usually based on prevailing prime rates.” Most institutions will lend up to about 90% of loan to value. Strategy Adam has an ingenious use for his HELOC and you can use his strategy too. The HELOC is used as a checking account. All of your income is deposited into it and all of your expenses are paid out of it. Depositing your paycheck into the HELOC acts like a payment so you aren’t adding a monthly payment. The money left over at the end of the month gets sent to the mortgage. What this does is send a massive payment to your mortgage each month. The trick to make this work though is that you have to make more than you spend. Let’s look at an example: You bought a home for $100,000 with a $20,000 down payment. You can immediately take out a HELOC for $10,000. You then put that toward your mortgage. In order for this to work though, you must make more than you spend. You make $5,000, spend $4,000 and have $1,000 left. That $1,000 goes into the HELOC until it’s paid off, so for ten months. Let’s say your interest rate is 5%. So that’s $500 over 12 months, $41.33 the first month in interest but when the income goes in, you’re paying a little less each month because you’re slowly paying the loan down with that $1,000 a month. Rather than taking ten months to pay off, it takes around 7. And because your mortgage went from $80,000 to $70,000, you will pay less interest not just over ten months but over the entire life of the loan. What If You Don’t Own A Home? You can still use a similar strategy if you don’t own a home. You can get a personal line of credit, PLOC. A PLOC is “A loan that you use like a credit card account that you access without using a card. Instead, you write special checks or request a transfer to your checking account by phone or online. You have a credit limit, receive a monthly bill, make at least a minimum payment, pay interest based on your outstanding balance, and possibly pay a fee each time you use the account.  PLOC are unsecured, unlike HELOCs, which are backed by a mortgage on your home. PLOCs are offered by banks and credit unions and usually require that you also have a checking account with the same institution.” PLOCs have their drawbacks. The interest rate is higher than a HELOC and the interest is not tax deductible. But if you have high-interest debt and don’t own a home, they can be beneficial. What Keeps Us In Debt It’s the way we bank and borrow. Taking out a 30 year mortgage is just SOP in the United States. Amortization is the process of paying off a debt, like a mortgage over time with regular payments. An amortization schedule is a table detailing each periodic payment on an that loan. We borrowed $80,000 to buy our home above. With a 30 year mortgage at 3.5%, you will pay $50,000 in interest when it’s all over! Your first mortgage payment will be $359, Learn more about your ad choices. Visit megaphone.fm/adchoices

Adam Carroll joins us to discuss how to actually save thousands on your mortgage with home equity lines of credit. When we interviewed Adam for our new Rich Tips series, he mentioned how he is paying off his mortgage years ahead of schedule and saving thousands of dollars in interest. We were intrigued and asked him to join us to explain his strategy in greater detail. What Is A Home Equity Line Of Credit? A home equity line of credit, <a href="http://www.investopedia.com/terms/h/homeequitylineofcredit.asp" rel="nofollow" target="_blank">HELOC</a>, is “An open ended line of credit extended to a homeowner that uses the borrower’s home as collateral. Once a maximum loan balance is established, the homeowner may draw on the line of credit at his or her discretion. Interest is charged on a predetermined variable rate, which is usually based on prevailing prime rates.” Most institutions will lend up to about 90% of loan to value. Strategy Adam has an ingenious use for his HELOC and you can use his strategy too. The HELOC is used as a checking account. All of your income is deposited into it and all of your expenses are paid out of it. Depositing your paycheck into the HELOC acts like a payment so you aren’t adding a monthly payment. The money left over at the end of the month gets sent to the mortgage. What this does is send a massive payment to your mortgage each month. The trick to make this work though is that you have to make more than you spend. Let’s look at an example: You bought a home for $100,000 with a $20,000 down payment. You can immediately take out a HELOC for $10,000. You then put that toward your mortgage. In order for this to work though, you must make more than you spend. You make $5,000, spend $4,000 and have $1,000 left. That $1,000 goes into the HELOC until it’s paid off, so for ten months. Let’s say your interest rate is 5%. So that’s $500 over 12 months, $41.33 the first month in interest but when the income goes in, you’re paying a little less each month because you’re slowly paying the loan down with that $1,000 a month. Rather than taking ten months to pay off, it takes around 7. And because your mortgage went from $80,000 to $70,000, you will pay less interest not just over ten months but over the entire life of the loan. What If You Don’t Own A Home? You can still use a similar strategy if you don’t own a home. You can get a personal line of credit, PLOC. A <a href="http://www.consumerfinance.gov/askcfpb/901/what-personal-line-credit.html" rel="nofollow" target="_blank">PLOC</a> is “A loan that you use like a credit card account that you access without using a card. Instead, you write special checks or request a transfer to your checking account by phone or online. You have a credit limit, receive a monthly bill, make at least a minimum payment, pay interest based on your outstanding balance, and possibly pay a fee each time you use the account.  PLOC are unsecured, unlike HELOCs, which are backed by a mortgage on your home. PLOCs are offered by banks and credit unions and usually require that you also have a checking account with the same institution.” PLOCs have their drawbacks. The interest rate is higher than a HELOC and the interest is not tax deductible. But if you have high-interest debt and don’t own a home, they can be beneficial. What Keeps Us In Debt It’s the way we bank and borrow. Taking out a 30 year mortgage is just SOP in the United States. Amortization is the process of paying off a debt, like a mortgage over time with regular payments. An amortization schedule is a table detailing each periodic payment on an that loan. We borrowed $80,000 to buy our home above. With a 30 year mortgage at 3.5%, you will pay $50,000 in interest when it’s all over! Your first mortgage payment will be $359, Learn more about your ad choices. Visit <a href="https://megaphone.fm/adchoices" rel="nofollow" target="_blank">megaphone.fm/adchoices</a>

How to Actually Save Thousands on Your Mortgage

Maybe you are rich. Maybe you are poor. Maybe you have experienced being both at some point in your life. If you haven’t figured it out yet, being rich isn’t all about money. It’s about well-being, abundance, having time, success, and the right mindset. There are definitely social issues that contribute to poverty, however, rich vs poor mindsets can also drive wealth and success. There are many poor people with a rich mindset, financially poor due to circumstance. And there are many trust fund babies with a poor mindset.Full Article HereShow Notes:Order of Man PodcastMenfluential Conference The Dip By Seth Godin Learn more about your ad choices. Visit megaphone.fm/adchoices

Maybe you are rich. Maybe you are poor. Maybe you have experienced being both at some point in your life. If you haven’t figured it out yet, <a href="https://www.listenmoneymatters.com/how-to-become-a-millionaire-get-rich/" rel="nofollow" target="_blank">being rich isn’t all about money</a>. It’s about well-being, abundance, having time, success, and the right mindset. There are definitely social issues that contribute to poverty, however, rich vs poor mindsets can also drive wealth and success. There are many poor people with a rich mindset, financially poor due to circumstance. And there are many trust fund babies with a poor mindset.<a href="https://www.listenmoneymatters.com/rich-vs-poor-mindset/" rel="nofollow" target="_blank">Full Article Here</a>Show Notes:<a href="http://www.orderofman.com/category/podcast/" rel="nofollow" target="_blank">Order of Man Podcast</a><a href="https://menfluentialconference.com/" rel="nofollow" target="_blank">Menfluential Conference </a><a href="https://www.amazon.com/Dip-Little-Book-Teaches-Stick/dp/1591841666" rel="nofollow" target="_blank">The Dip By Seth Godin</a> Learn more about your ad choices. Visit <a href="https://megaphone.fm/adchoices" rel="nofollow" target="_blank">megaphone.fm/adchoices</a>

The Real Difference Between a Rich Mindset vs. a Poor Mindset

Your paycheck gets deposited, groceries purchased, bills paid, and then you’re broke again until the next payday. That is the story for almost half of American households, and the vicious cycle is hard to break. It won’t be easy, but you can stop living paycheck to paycheck. An NYU study found that about 70 million Americans live in “wealthy hand-to-mouth” households. These are families that own assets like homes, retirement accounts, college funds and cars but yet still live paycheck to paycheck. They spend almost every dollar of their annual income to keep up their lifestyle and pay all the bills. Why is it happening? If you want to stop living paycheck to paycheck, you need to find the root of the problem. It is probably very simple – you are spending more than you earn. You may not throw your money away on extravagant things, but you are still living above your means. It’s time to consider making some lifestyle changes. Start by making a list of necessary and optional expenses see where you can save. If your spending is already very low, ask yourself what you need to survive and reframe your lifestyle choices. That can mean moving to a cheaper apartment, stop eating out,  taking the bus to work, making lunch at home, getting rid of the gym membership or get your bills lowered. There are many people who people survive on very little – look at Mr. Money Mustache. Take a hard look at the choices you have been making and create a budget that will give you the flexibility to save, even if it’s just $50 a month. You can build wealth one dollar at a time.  Prosperity Mindset The mind is a powerful thing. To make real changes in our lives, we need to create a positive shift in our thinking. I’m not talking about The Secret “think it and it shall happen” bullshit. Well, maybe a little. Having a bigger vision for what you believe is possible for yourself is the first step to getting there. There is truth in the law of attraction. If you feel that you will never be financially stable or you’ll never get out of debt you most likely won’t. That negativity is reinforcing your limitations. Take full responsibility for your financial circumstances. Your willingness to change it is a key factor in your ability to make better financial decisions. Remember, prosperity is not about having a big house or ton of money. It is about being happy and living comfortably, and the way to get there is with a positive attitude and motivation. Breaking the Cycle Think for a moment on what you’ll gain from breaking the cycle. How will it feel to have extra money at the end of the month? Once you start having money left at the end of every pay cycle, you’ll begin to feel a little freer. Having financial breathing room will significantly reduce your stress.  Give yourself a pay cut. Living slightly below your means will help you stashing away some savings every month to grown an emergency fund. Try to pretend you earn less than you do. Start a crash savings program and do it in a short period like one to two months. Try saving 5-10% of your paycheck. Set up an automatic transfer to your account so it is easier to stick with it. Roughing it for a short period is all you need to get out of the cycle. Once you see that it is doable, it will be much easier to stay on course. If cutting expenses aren’t enough, then you need to build more income. Having an additional stream will make a huge difference even if it’s only $100 extra a month.  It doesn’t necessarily have to be another job. If you have a few extra hours a week, Learn more about your ad choices. Visit megaphone.fm/adchoices

Your paycheck gets deposited, groceries purchased, bills paid, and then you’re broke again until the next payday. That is the story for almost half of American households, and the vicious cycle is hard to break. It won’t be easy, but you can stop living paycheck to paycheck. An NYU study found that about 70 million Americans live in “wealthy hand-to-mouth” households. These are families that own assets like homes, retirement accounts, college funds and cars but yet still live paycheck to paycheck. They spend almost every dollar of their annual income to keep up their lifestyle and pay all the bills. Why is it happening? If you want to stop living paycheck to paycheck, you need to find the root of the problem. It is probably very simple – you are spending more than you earn. You may not throw your money away on extravagant things, but you are still living above your means. It’s time to consider making some lifestyle changes. Start by making a list of necessary and optional expenses see where you can save. If your spending is already very low, ask yourself what you need to survive and reframe your lifestyle choices. That can mean moving to a cheaper apartment, <a href="https://collegeinfogeek.com/eating-healthily-cheaply-quickly/" rel="nofollow" target="_blank">stop eating out</a>,  taking the bus to work, making lunch at home, getting rid of the gym membership or <a href="https://www.listenmoneymatters.com/go/billshark/" rel="nofollow" target="_blank">get your bills lowered.</a> There are many people who people survive on very little – look at <a href="https://www.listenmoneymatters.com/mr-money-mustache/" rel="nofollow" target="_blank">Mr. Money Mustache</a>. Take a hard look at the choices you have been making and create a budget that will give you the flexibility to save, even if it’s just $50 a month. You can build wealth one dollar at a time. Prosperity Mindset The mind is a powerful thing. To make real changes in our lives, we need to create a positive shift in our thinking. I’m not talking about <a href="http://amzn.to/2a53q2f" rel="nofollow" target="_blank">The Secret</a> “think it and it shall happen” bullshit. Well, maybe a little. Having a bigger vision for what you believe is possible for yourself is the first step to getting there. There is truth in the law of attraction. If you feel that you will never be financially stable or you’ll never get out of debt you most likely won’t. That negativity is reinforcing your limitations. Take full responsibility for your financial circumstances. Your willingness to change it is a key factor in your ability to make better financial decisions. Remember, prosperity is not about having a big house or ton of money. It is about being happy and living comfortably, and the way to get there is with a positive attitude and motivation. Breaking the Cycle Think for a moment on what you’ll gain from breaking the cycle. How will it feel to have extra money at the end of the month? Once you start having money left at the end of every pay cycle, you’ll begin to feel a little freer. Having financial breathing room will significantly reduce your stress.  Give yourself a pay cut. Living slightly below your means will help you stashing away some savings every month to grown an emergency fund. Try to pretend you earn less than you do. Start a crash savings program and do it in a short period like one to two months. Try saving 5-10% of your paycheck. Set up an automatic transfer to your account so it is easier to stick with it. Roughing it for a short period is all you need to get out of the cycle. Once you see that it is doable, it will be much easier to stay on course. If cutting expenses aren’t enough, then you need to build more income. Having an additional stream will make a huge difference even if it’s only $100 extra a month.  It doesn’t necessarily have to be another job. If you have a few extra hours a week, Learn more about your ad choices. Visit <a href="https://megaphone.fm/adchoices" rel="nofollow" target="_blank">megaphone.fm/adchoices</a>

Stop Living Paycheck to Paycheck

 Today we’re answering listener questions. Student loans, home equity loans, over paying your mortgage and a day in the life of a data engineer. We love to answer your questions on the podcast. If you are wondering, odds are someone else in the audience would like to know too. 1. I miscalculated and took out too much in student loans. Should I pay it back right away? Yes, pay it back if you don’t need it. Pay off the higher interest rate loan first. 2. Should I take out a home equity loan to pay for roof repairs? Yes, a home equity loan will have a lower interest rate than a personal loan or heaven forbid, putting it on a credit card. 3. Should we use Betterment as a savings account for a down payment, to bulk pay student or car loans, and as a place to keep a 3-6 month emergency fund? If you’re going buy a house in less than five years, no. Yes to the loans again applying the five year rule. Yes to keeping your emergency fund there. 4. How to allocate extra money to mortgage payments versus to a retirement fund or emergency fund? It’s almost never best to over pay the mortgage. It’s better to throw extra at the retirement account. If you do want to pay extra to the mortgage, pay more than once a month to cut down on the interest you pay. 5. What’s a typical day for a data engineer? Data engineer is a niche job so it commands good money. Andrew has an undergrad in info technology. He pulls data from various sources, builds warehouses to store it, and gathers insight from the culled data. He goes to lots of meetings.Show Notes:Betterment: The easy way to invest. Patreon: Help support LMM. Learn more about your ad choices. Visit megaphone.fm/adchoices

Today we’re answering listener questions. Student loans, home equity loans, over paying your mortgage and a day in the life of a data engineer. We love to answer your questions on the podcast. If you are wondering, odds are someone else in the audience would like to know too. 1. I miscalculated and took out too much in student loans. Should I pay it back right away? Yes, pay it back if you don’t need it. Pay off the higher interest rate loan first. 2. Should I take out a home equity loan to pay for roof repairs? Yes, a home equity loan will have a lower interest rate than a personal loan or heaven forbid, putting it on a credit card. 3. Should we use Betterment as a savings account for a down payment, to bulk pay student or car loans, and as a place to keep a 3-6 month emergency fund? If you’re going buy a house in less than five years, no. Yes to the loans again applying the five year rule. Yes to keeping your emergency fund there. 4. How to allocate extra money to mortgage payments versus to a retirement fund or emergency fund? It’s almost never best to over pay the mortgage. It’s better to throw extra at the retirement account. If you do want to pay extra to the mortgage, pay more than once a month to cut down on the interest you pay. 5. What’s a typical day for a data engineer? Data engineer is a niche job so it commands good money. Andrew has an undergrad in info technology. He pulls data from various sources, builds warehouses to store it, and gathers insight from the culled data. He goes to lots of meetings.Show Notes:<a href="https://www.listenmoneymatters.com/go/betterment/" rel="nofollow" target="_blank">Betterment:</a> The easy way to invest. <a href="https://www.listenmoneymatters.com/go/support/" rel="nofollow" target="_blank">Patreon: </a>Help support LMM. Learn more about your ad choices. Visit <a href="https://megaphone.fm/adchoices" rel="nofollow" target="_blank">megaphone.fm/adchoices</a>

5 Questions: Home Equity Loans, Student Loans, and Mortgages

Most of us are not going to get rich simply from our jobs – we have a limited amount of time for actively working. To reach financial independence, we have to create sources of passive income. Smart real estate investing can bring in big returns and grow your net worth.  Like investing in the stock market, real estate investing can seem intimidating. It’s really not though. There are just some key fundamentals you need to know before you get started. Everyone wants to be the Donald Trump of their neighborhood. But with less turnover. Fewer walls. Better inter-neighbor relations.  OK, maybe that was a bad example. But, maybe not. “It’s tangible, it’s solid, it’s beautiful. It’s artistic from my standpoint, and I just love real estate.” – Donald Trump Maybe this human candy corn topped with cheese whiz is on to something. Real estate is a physical asset you can touch and is not going out of business any time soon. Unless people all of sudden choose to live off the land again…  Nah! No matter how you slice it, real property is here to stay, which is why many choose to put their money into it. Investing in real estate has crossed all of our minds at one point or another.  But if this is an investment option you’re considering, you may have no idea where to start.  To successfully pursue investment opportunities in the real estate market, you must first do your due diligence to ensure that you understand the intricacies of your local market and the factors that dictate the profitability of what you’re investing in.  In this article, I will offer you a broad overview of just about everything you need to know about beginning with investing in property; the very basics. And I promise, no more bear attacks or Trump references. An overview of real estate investments At a basic level, real estate investing is a method of making money by renting, flipping or owning residential, industrial, commercial properties, or parcels of land. Some investors may find these properties on their own, or through the use of an online real estate marketplace like Roofstock, the Multiple Listing Services, or Zillow.  Residential real estate investments are the most common forms of real estate investing. These include single-family homes, condos, and townhomes that can be re-sold or rented out to turn a profit.  For example, you buy a condo in Beach City 5 miles from you for $100,000, you rent it out on Airbnb for $100 a night, you make a lotta tuna.   Simple as that. Well, maybe there’s a bit more to it. But more on that later. Larger residential properties and those that are intended for use by businesses fall under the category of commercial real estate. Owners can make money from commercial properties by leasing out office space or multifamily residential units. The rule of thumb is anything that’s rented out to a business and any residential building with more than 4 units inside it, is classified as commercial. These types of properties have different lending criteria when applying for a mortgage. Regardless of the type of property you own, you can benefit monetarily profit from an investment property in four key ways: rent, appreciation, tax benefits, and interest. Rent The owner of a single-family home, condo, townhome, multifamily property, commercial building, crowdfunded real estate or industrial real estate may generate rental income by leasing out all or ... Learn more about your ad choices. Visit megaphone.fm/adchoices

Most of us are not going to get rich simply from our jobs – we have a limited amount of time for actively working. To reach financial independence, we have to create sources of passive income. Smart real estate investing can bring in big returns and grow your net worth.  Like investing in the stock market, real estate investing can seem intimidating. It’s really not though. There are just some key fundamentals you need to know before you get started. Everyone wants to be the Donald Trump of their neighborhood. But with less turnover. Fewer walls. Better inter-neighbor relations.  OK, maybe that was a bad example. But, maybe not. “It’s tangible, it’s solid, it’s beautiful. It’s artistic from my standpoint, and I just love real estate.” – Donald Trump Maybe this human candy corn topped with cheese whiz is on to something. Real estate is a physical asset you can touch and is not going out of business any time soon. Unless people all of sudden choose to live off the land again…  Nah! No matter how you slice it, real property is here to stay, which is why many choose to put their money into it. <a href="https://www.listenmoneymatters.com/rental-property-investing/" rel="nofollow" target="_blank">Investing in real estate</a> has crossed all of our minds at one point or another. But if this is an investment option you’re considering, you may have no idea where to start. To successfully pursue investment opportunities in the real estate market, you must first do your due diligence to ensure that you understand the intricacies of your local market and the factors that dictate the profitability of what you’re investing in. In this article, I will offer you a broad overview of just about everything you need to know about beginning with investing in property; the very basics. And I promise, no more bear attacks or Trump references. An overview of real estate investments At a basic level, real estate investing is a method of making money by renting, flipping or owning residential, industrial, commercial properties, or parcels of land. Some investors may find these properties on their own, or through the use of an <a href="https://www.listenmoneymatters.com/roofstock-review/" rel="nofollow" target="_blank">online real estate marketplace</a> like <a href="https://www.listenmoneymatters.com/go/roofstock/" rel="nofollow" target="_blank">Roofstock</a>, the <a href="http://www.mls.com/" rel="nofollow" target="_blank">Multiple Listing Services</a>, or <a href="https://www.zillow.com/" rel="nofollow" target="_blank">Zillow</a>. Residential real estate investments are the most common forms of real estate investing. These include single-family homes, condos, and townhomes that can be re-sold or rented out to turn a profit. For example, you buy a condo in Beach City 5 miles from you for $100,000, you rent it out on Airbnb for $100 a night, you make a lotta tuna. Simple as that. Well, maybe there’s a bit more to it. But more on that later. Larger residential properties and those that are intended for use by businesses fall under the category of commercial real estate. Owners can make money from commercial properties by leasing out office space or multifamily residential units. The rule of thumb is anything that’s rented out to a business and any residential building with more than 4 units inside it, is classified as commercial. These types of properties have <a href="https://www.investopedia.com/articles/personal-finance/100314/commercial-real-estate-loans.asp" rel="nofollow" target="_blank">different lending criteria</a> when applying for a mortgage. Regardless of the type of property you own, you can benefit monetarily profit from an investment property in four key ways: rent, appreciation, tax benefits, and interest. Rent The owner of a single-family home, condo, townhome, multifamily property, commercial building, <a href="https://www.listenmoneymatters.com/go/fundrise/" rel="nofollow" target="_blank">crowdfunded real estate</a> or industrial real estate may generate rental income by leasing out all or ... Learn more about your ad choices. Visit <a href="https://megaphone.fm/adchoices" rel="nofollow" target="_blank">megaphone.fm/adchoices</a>

A Beginners Guide To Real Estate Investing

Acorns

Competition is heating up among the Robo-Advisors. We get a lot of emails asking which is better: Acorns vs. Betterment vs. Wealthfront so we broke down each of the services to see who deserves your investment. The whole point of going with a Robo-Advisor is the ease of use. Based on the research, it’s highly unlikely you’ll outperform the market on your own. Better yet, if you tried to do it on your own, it would be much more expensive. For someone just looking to invest with the right service, it’s getting harder and harder to tell where you should put your money. Before we get started, I also wrote an incredibly in-depth Betterment Review, an equally detailed Wealthfront Review as well as interviewed the Acorns founders so if you’re looking to go even deeper check those out. In this article, I’ll be focusing more on the nuances of each service than the nitty-gritty features and how they work. Let the Robo-Advisor battle begin!   A Birds Eye View Every good investment comparison needs a sexy chart breaking down the differences. I’m not one to leave you wanting so bask in its glory:           Promotions Students Invest For Free Up to 6 Months Free Invest $15,000 Free   Management Fees 0.25% a year 0.25% – 0.5% a year 0% – 0.25% a year   Minimum Deposit None None None   Automatic Rebalancing Yes Yes Yes   Tax Loss Harvesting No Yes Yes   Assets Under Management $73.6 Million $5 Billion $3.5 Billion   iOS App Yes Yes Yes   Android App Yes Yes Yes   Taxable Accounts Yes Yes Yes   IRAs Yes Yes Yes           On paper they’re very comparable but as you know, the magic is in the details. In order to objectively compare Acorns vs Betterment vs Wealthfront I’ve come up with three main rounds the services will battle in to win your investment.  Round 1: Ease of Use and Sex Appeal Acorns has a beautiful app and a beautiful website. It’s one of the best-designed apps on my phone by a long shot. I’m of course not the only one to notice this – they’ve won some design award every year since they opened their doors.  That’s sexy investing, am I right or am I right? This Round was just going to be called Ease of Use, but Acorns elevated it to Sex Appeal. I’m willing to bet this is the biggest way they get people to try them out. Sexy screenshots. That can also be a downside though. We’re about investing for the long-term here so if you need to keep opening your app just to see the pretty colors; you’ll also see daily fluctuations and go slowly insane. Learn more about your ad choices. Visit megaphone.fm/adchoices

Competition is heating up among the Robo-Advisors. We get a lot of emails asking which is better: Acorns vs. Betterment vs. Wealthfront so we broke down each of the services to see who deserves your investment. The whole point of going with a Robo-Advisor is the ease of use. Based on <a href="http://www.spindices.com/documents/spiva/persistence-scorecard-june-2014.pdf" rel="nofollow" target="_blank">the research</a>, it’s highly unlikely you’ll outperform the market on your own. Better yet, if you tried to do it on your own, it would be much more expensive. For someone just looking to invest with the right service, it’s getting harder and harder to tell where you should put your money. Before we get started, I also wrote an incredibly in-depth <a href="https://www.listenmoneymatters.com/betterment-review-experiment/" rel="nofollow" target="_blank">Betterment Review</a>, an equally detailed <a href="https://www.listenmoneymatters.com/wealthfront-review/" rel="nofollow" target="_blank">Wealthfront Review</a> as <a href="https://www.listenmoneymatters.com/acorns-review/" rel="nofollow" target="_blank">well as interviewed the Acorns founders</a> so if you’re looking to go even deeper check those out. In this article, I’ll be focusing more on the nuances of each service than the nitty-gritty features and how they work. Let the Robo-Advisor battle begin! A Birds Eye View Every good investment comparison needs a sexy chart breaking down the differences. I’m not one to leave you wanting so bask in its glory: Promotions Students Invest For Free Up to 6 Months Free Invest $15,000 Free Management Fees 0.25% a year 0.25% – 0.5% a year 0% – 0.25% a year Minimum Deposit None None None Automatic Rebalancing Yes Yes Yes Tax Loss Harvesting No Yes Yes Assets Under Management $73.6 Million $5 Billion $3.5 Billion iOS App Yes Yes Yes Android App Yes Yes Yes Taxable Accounts Yes Yes Yes IRAs Yes Yes Yes On paper they’re very comparable but as you know, the magic is in the details. In order to objectively compare Acorns vs Betterment vs Wealthfront I’ve come up with three main rounds the services will battle in to win your investment. Round 1: Ease of Use and Sex Appeal Acorns has a beautiful app and a beautiful website. It’s one of the best-designed apps on my phone by a long shot. I’m of course not the only one to notice this – they’ve won some design award every year since they opened their doors. That’s sexy investing, am I right or am I right? This Round was just going to be called Ease of Use, but Acorns elevated it to Sex Appeal. I’m willing to bet this is the biggest way they get people to try them out. Sexy screenshots. That can also be a downside though. We’re about investing for the long-term here so if you need to keep opening your app just to see the pretty colors; you’ll also see daily fluctuations and go slowly insane. Learn more about your ad choices. Visit <a href="https://megaphone.fm/adchoices" rel="nofollow" target="_blank">megaphone.fm/adchoices</a>

5 Questions: Roth IRA's, Investing 10K, and Using Acorns

The Personal Finance Blueprint 2.0 will show you how to build a strong financial foundation and show you when and where to start with investing.Show Notes Freddie Murkury IPA Mikkeller Brewing San DiegoLeftover - Matts new home brewBetterment Smart SaverSimple Bank- No ATM fees here Learn more about your ad choices. Visit megaphone.fm/adchoices

The Personal Finance Blueprint 2.0 will show you how to build a strong financial foundation and show you when and where to start with investing.Show Notes <a href="https://untappd.com/b/mikkeller-brewing-san-diego-freddie-murkury/2355968" rel="nofollow" target="_blank">Freddie Murkury IPA Mikkeller Brewing San Diego</a>Leftover - Matts new home brew<a href="https://www.listenmoneymatters.com/go/betterment-smart-saver/" rel="nofollow" target="_blank">Betterment Smart Saver</a><a href="https://www.listenmoneymatters.com/go/simple/" rel="nofollow" target="_blank">Simple Bank</a>- No ATM fees here Learn more about your ad choices. Visit <a href="https://megaphone.fm/adchoices" rel="nofollow" target="_blank">megaphone.fm/adchoices</a>

The Personal Finance Blueprint 2.0

Used properly, a credit card can have all sorts of benefits. Used improperly, it can drag you into bankruptcy.  A credit card can be a blessing or a curse. Some people refuse even to touch one. But if you know how to use one, it is a tool like anything else. Full Article HereShow NotesTallgrass Brewing Buffalo Sweat:  A sweet, oatmeal cream stout.Credit Karma:  Get your credit score for free.Extra Pack of Peanuts:  Learn how to churn airline miles.LMM How to Improve Your Credit Score:  Hacks to boost your score fast.LMM Best Travel Cards: If you want free flights and hotels, these are the best cards. Learn more about your ad choices. Visit megaphone.fm/adchoices

Used properly, a credit card can have all sorts of benefits. Used improperly, it can drag you into bankruptcy.  A credit card can be a blessing or a curse. Some people refuse even to touch one. But if you know how to use one, it is a tool like anything else. <a href="https://www.listenmoneymatters.com/how-to-use-credit-card/" rel="nofollow" target="_blank">Full Article Here</a>Show Notes<a href="http://www.tallgrassbeer.com/beers/buffalo-sweat" rel="nofollow" target="_blank">Tallgrass Brewing Buffalo Sweat:</a>  A sweet, oatmeal cream stout.<a href="https://www.listenmoneymatters.com/go/credit-karma/" rel="nofollow" target="_blank">Credit Karma:</a>  Get your credit score for free.<a href="http://www.extrapackofpeanuts.com/" rel="nofollow" target="_blank">Extra Pack of Peanuts:</a>  Learn how to churn airline miles.<a href="https://www.listenmoneymatters.com/how-to-improve-your-credit-score/" rel="nofollow" target="_blank">LMM How to Improve Your Credit Score:</a>  Hacks to boost your score fast.<a href="https://www.listenmoneymatters.com/best-travel-rewards-credit-cards/" rel="nofollow" target="_blank">LMM Best Travel Cards:</a> If you want free flights and hotels, these are the best cards. Learn more about your ad choices. Visit <a href="https://megaphone.fm/adchoices" rel="nofollow" target="_blank">megaphone.fm/adchoices</a>

How To Use a Credit Card Like A Responsible Adult

Buying a home is still the American dream for many people but with home prices going up and up, how can you save up for a house without sleeping in your car? With the median home price in the U.S. at $188,900, it seems impossible. How the hell does someone save up for a house? Buying a home is such a part of the American dream. It seems like once you reach certain milestones that are considered part and parcel of being an adult, every which way you turn, someone or something is telling you to buy a house, you must buy a house! But should buying a home still be a part of the American dream?Full Article HereShow NotesDead Guy Ale: An ale aged in whiskey barrels. Stick's Pale Ale:  A sessionable pale ale. Learn more about your ad choices. Visit megaphone.fm/adchoices

Buying a home is still the American dream for many people but with home prices going up and up, how can you save up for a house without sleeping in your car? With the median home price in the U.S. at $188,900, it seems impossible. How the hell does someone save up for a house? Buying a home is such a part of the American dream. It seems like once you reach certain milestones that are considered part and parcel of being an adult, every which way you turn, someone or something is telling you to buy a house, you must buy a house! But should <a href="https://www.huffingtonpost.com/entry/american-dream-home-ownership_us_5b2c5736e4b00295f15ae32a" rel="nofollow" target="_blank">buying a home</a> still be a part of the American dream?<a href="https://www.listenmoneymatters.com/how-to-save-for-a-house/" rel="nofollow" target="_blank">Full Article Here</a>Show Notes<a href="https://www.beeradvocate.com/beer/profile/132/355/" rel="nofollow" target="_blank">Dead Guy Ale:</a> An ale aged in whiskey barrels. <a href="https://www.beeradvocate.com/beer/profile/29681/140088/" rel="nofollow" target="_blank">Stick's Pale Ale:</a>  A sessionable pale ale. Learn more about your ad choices. Visit <a href="https://megaphone.fm/adchoices" rel="nofollow" target="_blank">megaphone.fm/adchoices</a>

How The Hell Does Someone Save Up For a House?

There is a lot of chatter in the personal finance world about passive income, why you need it and how great it is. But what is it and why is it such a topic of conversation? Passive income is money that you earn without doing much to make it. Some passive income ideas take a degree of upfront work to earn, like writing an e-book and some don't take any effort at all, such as investing with a robo advisor. Today we talk about what exactly passive income is and understanding the non-passive nature of building it.Full Article HereShow Notes:Seated:  You nee to use Seated to book restaurant reservations. Every time you complete a reservation, you get a gift code for up to 25% of your bill that you can use at Amazon, Uber, or Starbucks. The rewards are available within 24 hours of your completed reservation. Laura and I almost exclusively eat out with Seated because it saves us so much.Paribus: Receiving refund checks are our favorite past-time. As it turns out, stores owe you money but they don’t pay if you don’t ask. That’s where Paribus comes in – they go to bat for you. Price drop? Get cash back for the difference. Deliveries arrive later than advertised? Get cash back.Fundrise: Did you know that investors with 20% allocated to real estate outperform those who only invest in stocks and bonds? Diversify without the dramatics of actual tenants. The minimum investment is $500.Lending Club: The banks had a monopoly on personal loans until Lending Club came along. Now you can get a loan sourced from normal people. Reduce the cost of your debt and refinance. Lending Club has competitive rates and borrower benefits.Drop: Earn cash rewards from your favorite brands. Drop is the free app that's giving out millions in cash rewards for the spending you do everyday. BizBuySell: BizBuySell is the Internet's largest and most heavily trafficked business for sale marketplace, with more business for sale listings, more unique users, and more search activity than any other service. BizBuySell also has one of the largest databases of sale comparables for recently sold businesses and one of the industry's leading franchise directories.  Learn more about your ad choices. Visit megaphone.fm/adchoices

There is a lot of chatter in the personal finance world about passive income, why you need it and how great it is. But what is it and why is it such a topic of conversation? Passive income is money that you earn without doing much to make it. Some passive income ideas take a degree of upfront work to earn, like writing an e-book and some don't take any effort at all, such as investing with a robo advisor. Today we talk about what exactly passive income is and understanding the non-passive nature of building it.<a href="https://www.listenmoneymatters.com/passive-income-ideas/" rel="nofollow" target="_blank">Full Article Here</a>Show Notes:<a href="https://seated.app.link/9naVUnK96D" rel="nofollow" target="_blank">Seated</a>:  You nee to use Seated to book restaurant reservations. Every time you complete a reservation, you get a gift code for up to 25% of your bill that you can use at Amazon, Uber, or Starbucks. The rewards are available within 24 hours of your completed reservation. Laura and I almost exclusively eat out with Seated because it saves us so much.<a href="https://www.listenmoneymatters.com/go/paribus/" rel="nofollow" target="_blank">Paribus</a>: Receiving refund checks are our favorite past-time. As it turns out, stores owe you money but they don’t pay if you don’t ask. That’s where Paribus comes in – they go to bat for you. Price drop? Get cash back for the difference. Deliveries arrive later than advertised? Get cash back.<a href="https://www.listenmoneymatters.com/go/fundrise/" rel="nofollow" target="_blank">Fundrise</a>: Did you know that investors with 20% allocated to real estate outperform those who only invest in stocks and bonds? Diversify without the dramatics of actual tenants. The minimum investment is $500.<a href="https://www.listenmoneymatters.com/go/lending-club-refinance/" rel="nofollow" target="_blank">Lending Club</a>: The banks had a monopoly on personal loans until Lending Club came along. Now you can get a loan sourced from normal people. Reduce the cost of your debt and refinance. Lending Club has competitive rates and borrower benefits.<a href="https://www.listenmoneymatters.com/go/drop/" rel="nofollow" target="_blank">Drop</a>: Earn cash rewards from your favorite brands. Drop is the free app that's giving out millions in cash rewards for the spending you do everyday. <a href="https://www.bizbuysell.com/" rel="nofollow" target="_blank">BizBuySell</a>: BizBuySell is the Internet's largest and most heavily trafficked business for sale marketplace, with more business for sale listings, more unique users, and more search activity than any other service. BizBuySell also has one of the largest databases of sale comparables for recently sold businesses and one of the industry's leading franchise directories.  Learn more about your ad choices. Visit <a href="https://megaphone.fm/adchoices" rel="nofollow" target="_blank">megaphone.fm/adchoices</a>

How to Make Passive Income a Reality

Does champagne taste hurt your wealth building?  Unless you’re a Russian oligarch, the answer may be yes.  We like nice things even if we can’t  afford them.There comes a time when we have to live within our means.  Easier said than done when you have expensive tastes.  Even harder to do in a big urban area like New York City.  The reason we are so revolted by mediocrity is because we are surrounded by excellence.  But when it comes to wealth building, this is a dangerous mindset.Dinners, cars, clothes.  We all have our weak spots.  So what to do about it?  Does everything have to be top shelf for your special self?  It’s not like you’re the Pope or anything.  So instead of the $50 bottle of Bordeaux, how about the $25 bottle?  You’re probably no wine expert either so likely won’t notice the difference.  That’s not too say you can’t ever have the really good stuff.  But save it for special occasions.  It’s part of what makes them special.Quality is sometimes largely perception.  Quality doesn’t always mean the most expensive.  It’s better meaning would be the most durable.  Many people who buy only the most expensive things often don’t recognize quality anyway.  They just follow the herd in buying what they’ve been told is the best via advertising.  People interested in quality have done enough research to discern quality from cost.We’re not condoning PBR consumption but after beer number four, what difference does it make really?  I type this as I’m listening to Matt describe Andrew rubbing his new I-Phone on his face.  So what is the point of this episode?  Do as we say not as we do?  No, that doesn’t seem like the correct message to send.  How about this?  Buy the best that you need, not the best you can afford.Show Notes Mint:  Track how many I-phones you buy! Betterment:  Invest so you have money for more I-phones! Learn more about your ad choices. Visit megaphone.fm/adchoices

Does champagne taste hurt your wealth building?  Unless you’re a Russian oligarch, the answer may be yes.  We like nice things even if we can’t  afford them. There comes a time when we have to live within our means.  Easier said than done when you have expensive tastes.  Even harder to do in a big urban area like New York City.  The reason we are so revolted by mediocrity is because we are surrounded by excellence.  But when it comes to wealth building, this is a dangerous mindset. Dinners, cars, clothes.  We all have our weak spots.  So what to do about it?  Does everything have to be top shelf for your special self?  It’s not like you’re the Pope or anything.  So instead of the $50 bottle of Bordeaux, how about the $25 bottle?  You’re probably no wine expert either so likely won’t notice the difference.  That’s not too say you can’t ever have the really good stuff.  But save it for special occasions.  It’s part of what makes them special. Quality is sometimes largely perception.  Quality doesn’t always mean the most expensive.  It’s better meaning would be the most durable.  Many people who buy only the most expensive things often don’t recognize quality anyway.  They just follow the herd in buying what they’ve been told is the best via advertising.  People interested in quality have done enough research to discern quality from cost. We’re not condoning PBR consumption but after beer number four, what difference does it make really?  I type this as I’m listening to Matt describe Andrew rubbing his new I-Phone on his face.  So what is the point of this episode?  Do as we say not as we do?  No, that doesn’t seem like the correct message to send.  How about this?  Buy the best that you need, not the best you can afford. Show Notes <a href="https://www.listenmoneymatters.com/go/mint/" rel="nofollow" target="_blank">Mint:</a>  Track how many I-phones you buy! <a href="https://www.listenmoneymatters.com/go/betterment/" rel="nofollow" target="_blank">Betterment:</a>  Invest so you have money for more I-phones! Learn more about your ad choices. Visit <a href="https://megaphone.fm/adchoices" rel="nofollow" target="_blank">megaphone.fm/adchoices</a>

Expensive Taste May Be Prohibiting Your Financial Growth

Many people are afraid to get started investing. Some are scared to lose money, feel they don't have enough money or it can be due to lack of personal finance knowledge. Investing is not hard and anyone can do it. You can start investing with any amount money and the earlier you start, the better. We'll explain the fundamental concepts, lingo, types of investments and the basics of how to start investing. You got this!Full Article HereShow NotesAn Mas Chili Jesus: 12% ABV, what else do you need to know?Krane Financial Solutions: Justin's fee only investing firm.JKrane.com:Justin teaches business owners how to be smart with their money so they can fund personal goals.Simple Wealth: Research and evaluate rental properties. Learn more about your ad choices. Visit megaphone.fm/adchoices

Many people are afraid to get started investing. Some are scared to lose money, feel they don't have enough money or it can be due to lack of personal finance knowledge. Investing is not hard and anyone can do it. You can start investing with any amount money and the earlier you start, the better. We'll explain the fundamental concepts, lingo, types of investments and the basics of how to start investing. You got this!<a href="https://www.listenmoneymatters.com/how-to-start-investing/%20" rel="nofollow" target="_blank">Full Article Here</a>Show Notes<a href="https://www.beeradvocate.com/beer/profile/24300/151313/" rel="nofollow" target="_blank">An Mas Chili Jesus:</a> 12% ABV, what else do you need to know?<a href="http://kranefinancialsolutions.com/" rel="nofollow" target="_blank">Krane Financial Solutions:</a> Justin's fee only investing firm.<a href="http://jkrane.com/" rel="nofollow" target="_blank">JKrane.com:</a>Justin teaches business owners how to be smart with their money so they can fund personal goals.<a href="https://simplewealth.co/" rel="nofollow" target="_blank">Simple Wealth: </a>Research and evaluate rental properties. Learn more about your ad choices. Visit <a href="https://megaphone.fm/adchoices" rel="nofollow" target="_blank">megaphone.fm/adchoices</a>

Investing Is Not Hard And Anyone Can do It

 Larry Ludwig from Investor Junkie is our guest today to explain what the Federal Reserve is, does, and why you need to know. Put simply, the Fed sets monetary policy and either adds or removes money from the system. There are twelve regional Feds across the country to help manage local banks. It was created in 1913 as a way to prevent feature economic disasters. Bit of a fail I think. The chairperson is appointed by the president but is supposed to operate independently of the government. Prior to 1971, we operated on the gold standard so the Fed made sure the amount of money matched the amount of gold. Now we operate on a “faith based” system where we rely on the government to determine the value of money. In order to help stimulate the economy after the crash, the Fed allowed banks to borrow money at 0% interest. The rate has been that low for seven years. Lowering the interest rates is meant to stimulate the economy. When rates are low, people can borrow money to buy things they couldn’t afford before. When interest rates are raised, that means that the economy is doing well and is at nearly full employment. The Fed is also tasked with keeping inflation/deflation in check. They have not always been successful but the average rate of inflation has been about 3% since the Fed’s creation. The Fed also determines how much cash banks must have in reserve. Ultimately it’s productivity that grows an economy and not slight of hand by the Fed. And a lot of economists consider all this smoke and mirrors to be merely kicking the can down the road, just delaying the next 2008 style melt down. Is the Fed good or bad? That’s up for debate. The Fed has helped pull us out of crisis but did they create the crisis in the first place? Are they creating artificial cycles? What can you do to protect yourself against the whim of the Fed? Make sure to have a good asset allocation strategy. Aside from that and repatriating, there isn’t much else you can do. It’s good to understand the Fed but ultimately, invest your money in the LMM set it and forget it style and don’t worry too much about what they are doing. Show Notes White Beer: A crisp, summer beer. Investor Junkie: Larry’s site dedicated to helping you become a better investor. The Creature from Jekyll Island: A look at the Federal Reserve. Betterment: Don’t worry about the Fed and invest your money. Patreon: Want to keep LMM ad free? Donate now! Learn more about your ad choices. Visit megaphone.fm/adchoices

Larry Ludwig from Investor Junkie is our guest today to explain what the Federal Reserve is, does, and why you need to know. Put simply, the Fed sets monetary policy and either adds or removes money from the system. There are<a href="http://www.federalreserve.gov/otherfrb.htm" rel="nofollow" target="_blank"> twelve</a> regional Feds across the country to help manage local banks. It was created in 1913 as a way to prevent feature economic disasters. Bit of a fail I think. The chairperson is appointed by the president but is supposed to operate independently of the government. Prior to 1971, we operated on the gold standard so the Fed made sure the amount of money matched the amount of gold. Now we operate on a “faith based” system where we rely on the government to determine the value of money. In order to help stimulate the economy after the crash, the Fed allowed banks to borrow money at 0% interest. The rate has been that low for seven years. Lowering the interest rates is meant to stimulate the economy. When rates are low, people can borrow money to buy things they couldn’t afford before. When interest rates are raised, that means that the economy is doing well and is at nearly full employment. The Fed is also tasked with keeping inflation/deflation in check. They have not always been successful but the average rate of inflation has been about 3% since the Fed’s creation. The Fed also determines how much cash banks must have in reserve. Ultimately it’s productivity that grows an economy and not slight of hand by the Fed. And a lot of economists consider all this smoke and mirrors to be merely kicking the can down the road, just delaying the next 2008 style melt down. Is the Fed good or bad? That’s up for debate. The Fed has helped pull us out of crisis but did they create the crisis in the first place? Are they creating artificial cycles? What can you do to protect yourself against the whim of the Fed? Make sure to have a good asset allocation strategy. Aside from that and repatriating, there isn’t much else you can do. It’s good to understand the Fed but ultimately, invest your money in the LMM set it and forget it style and don’t worry too much about what they are doing. Show Notes <a href="http://www.beeradvocate.com/beer/profile/741/3458/" rel="nofollow" target="_blank">White Beer:</a> A crisp, summer beer. <a href="http://investorjunkie.com" rel="nofollow" target="_blank">Investor Junkie:</a> Larry’s site dedicated to helping you become a better investor. <a href="https://www.listenmoneymatters.com/go/amazon/" rel="nofollow" target="_blank">The Creature from Jekyll Island: </a>A look at the Federal Reserve. <a href="https://www.listenmoneymatters.com/go/betterment/" rel="nofollow" target="_blank">Betterment:</a> Don’t worry about the Fed and invest your money. <a href="https://www.patreon.com/listenmoneymatters?ty=h" rel="nofollow" target="_blank">Patreon:</a> Want to keep LMM ad free? Donate now! Learn more about your ad choices. Visit <a href="https://megaphone.fm/adchoices" rel="nofollow" target="_blank">megaphone.fm/adchoices</a>

What the F**k is the Federal Reserve?

All of us have spending leaks, money we spend that we shouldn’t. We’re getting back to basics. While you were all busy investing in real estate and monitoring your portfolios, you’ve been steadily wasting money. We’re all guilty of it, but from time to time we need to go back to personal finance 101 and take a hard look at how much we are spending day to day. Stop wasting money already!  And remember what gets measured gets managed.Full Article HereShow NotesCascade Kriek Ale:A sour ale from Cascade Brewing.LMM Pro:Research, evaluate, and track rental property.Toolbox:All the best stuff we use to manage our money.Community: Join the conversation. Learn more about your ad choices. Visit megaphone.fm/adchoices

All of us have spending leaks, money we spend that we shouldn’t. We’re getting back to basics. While you were all busy investing in <a href="https://www.listenmoneymatters.com/realtyshares-review/" rel="nofollow" target="_blank">real estate</a> and monitoring your portfolios, you’ve been steadily wasting money. We’re all guilty of it, but from time to time we need to go back to personal finance 101 and take a hard look at how much we are spending day to day. Stop wasting money already!  And remember what gets measured gets managed.<a href="https://www.listenmoneymatters.com/wasting-money/" rel="nofollow" target="_blank">Full Article Here</a>Show Notes<a href="https://www.beeradvocate.com/beer/profile/2391/42193/" rel="nofollow" target="_blank">Cascade Kriek Ale:</a>A sour ale from Cascade Brewing.<a href="https://pro.listenmoneymatters.com/" rel="nofollow" target="_blank">LMM Pro:</a>Research, evaluate, and track rental property.<a href="https://www.listenmoneymatters.com/toolbox/" rel="nofollow" target="_blank">Toolbox:</a>All the best stuff we use to manage our money.<a href="https://www.listenmoneymatters.com/go/support/" rel="nofollow" target="_blank">Community:</a> Join the conversation. Learn more about your ad choices. Visit <a href="https://megaphone.fm/adchoices" rel="nofollow" target="_blank">megaphone.fm/adchoices</a>

It’s About Time You Stop Wasting Money

Do you dream of retiring early? We interview the expert in early retirement, Mr Money Mustache. We must learn his ways. Learn more about your ad choices. Visit megaphone.fm/adchoices

Do you dream of retiring early? We interview the expert in early retirement, Mr Money Mustache. We must learn his ways. Learn more about your ad choices. Visit <a href="https://megaphone.fm/adchoices" rel="nofollow" target="_blank">megaphone.fm/adchoices</a>

How To Retire Early with Mr. Money Mustache

Are you looking for a way to invest in real estate without all of the hassles of becoming a landlord? Then REIT investing might be just what you’re looking for. But what the f**k is REIT investing? Real estate can be an important addition to your investment portfolio, but it seems out of reach for many of us. We don’t even live in our own house, we rent. So how are we going to ever own real estate? There is a way! What is are REIT Investments? A REIT or Real Estate Investment Trust is a company that owns, manages or bankrolls income-producing real estate. The rent generated from the properties is distributed to shareholders in the form of dividends. REIT is similar to a mutual fund and trade on the major market exchanges. It allows individual investors to pool their money and own real estate that they wouldn’t be able to afford on their own. When you own stock in a REIT, you own a small sliver of the apartment or office buildings they own just like when you own stock in a company you own a tiny piece of that company. Due to the nature of real estate investing, REITs typically do better in low-interest rate environments and when there are higher rates it is usually a bumpy ride for the REIT market.  To qualify as a REIT, a company has to adhere to specific guidelines put in place by Congress. These guidelines include:  * Is considered a corporation according to the IRS revenue code * Is managed by a board of directors * Has at least 100 shareholders * Have no more than 50% of its shares held by five or fewer individuals * Has at least 75% of its assets in real estate, US Treasurys, or cash * Generates at least 75% of its net income from real estate * 95% of its income must be passive like rent * At least 90% of its taxable income is paid to shareholders via dividends  There are two kinds of REITs. Equity REITs About 90% of REITs are equity REITs. Equity REITs buy, manage, build, remodel, and sell real estate. The revenues from these REITs come mainly from rental income. The types of real estate properties include residential, retail, office, industrial, and hotels. Equity REITs often specialize in a specific property types. Residential REIT’s invest in single-family homes or apartment buildings and retail REITs invest in shopping and strip malls. Mortgage REITs Mortgage REITs only make up about 10% of REITs. A mortgage REIT lends money to real estate buyers or buys existing mortgages or mortgage-backed securities. The revenue from these REITs come from the interest paid on the mortgage loans. Mortgage REITs often specialize too, either in residential or commercial mortgages. How to start investing in REITs The ultimate goal of any investment is to make money so how do you make money on a REIT?  REIT stocks let investors invest in real estate the same way they invest in any other industry, by purchasing stocks through a mutual fund or ETF on the stock market. When you are a shareholder in a REIT, you earn a portion of the money generated by that investment. REITs are exempt from corporate taxes as long as they adhere to the Congressional guidelines we outlined above. Because a REIT’s income is not taxed, there is more money for shareholders. Shareholders though do have to pay capital gains taxes on the dividends at their ordinary income tax rate. Investors can deduct 20% of REIT dividends though lowering the maximum tax rate from 39.6% to 29.6%. REITs often provide high dividends, and those dividends can increase over time as the REIT’s properties appreciate in asset value. eREIT If a $3,000 minimum, the initial investment is too rich for your blood, there is a company in the REIT arena called  Learn more about your ad choices. Visit megaphone.fm/adchoices

Are you looking for a way to invest in real estate without all of the hassles of becoming a landlord? Then REIT investing might be just what you’re looking for. But what the f**k is REIT investing? Real estate can be an important addition to your <a href="https://www.listenmoneymatters.com/the-anatomy-of-a-well-balanced-portfolio/" rel="nofollow" target="_blank">investment portfolio</a>, but it seems out of reach for many of us. We don’t even live in our own house, we rent. So how are we going to ever own real estate? There is a way! What is are REIT Investments? A REIT or Real Estate Investment Trust is a company that owns, manages or bankrolls income-producing real estate. The rent generated from the properties is distributed to shareholders in the form of dividends. REIT is similar to a mutual fund and trade on the major market exchanges. It allows individual investors to pool their money and own real estate that they wouldn’t be able to afford on their own. When you own stock in a REIT, you own a small sliver of the apartment or office buildings they own just like when you own stock in a company you own a tiny piece of that company. Due to the nature of real estate investing, REITs typically do better in low-interest rate environments and when there are higher rates it is usually a bumpy ride for the REIT market. To qualify as a REIT, a company has to adhere to specific guidelines put in place by Congress. These guidelines include: * Is considered a corporation according to the IRS revenue code * Is managed by a board of directors * Has at least 100 shareholders * Have no more than 50% of its shares held by five or fewer individuals * Has at least 75% of its assets in real estate, US Treasurys, or cash * Generates at least 75% of its net income from real estate * 95% of its income must be passive like rent * At least 90% of its taxable income is paid to shareholders via dividends There are two kinds of REITs. Equity REITs About 90% of REITs are equity REITs. Equity REITs buy, manage, build, remodel, and sell real estate. The revenues from these REITs come mainly from rental income. The types of real estate properties include residential, retail, office, industrial, and hotels. Equity REITs often specialize in a specific property types. Residential REIT’s invest in single-family homes or apartment buildings and retail REITs invest in shopping and strip malls. Mortgage REITs Mortgage REITs only make up about 10% of REITs. A mortgage REIT lends money to real estate buyers or buys existing mortgages or mortgage-backed securities. The revenue from these REITs come from the interest paid on the mortgage loans. Mortgage REITs often specialize too, either in residential or commercial mortgages. How to start investing in REITs The ultimate goal of any investment is to make money so how do you make money on a REIT? REIT stocks let investors invest in real estate the same way they invest in any other industry, by purchasing stocks through a mutual fund or ETF on the stock market. When you are a shareholder in a REIT, you earn a portion of the money generated by that investment. REITs are exempt from corporate taxes as long as they adhere to the Congressional guidelines we outlined above. Because a REIT’s income is not taxed, there is more money for shareholders. Shareholders though do have to pay capital gains taxes on the dividends at their ordinary income tax rate. Investors can deduct 20% of REIT dividends though lowering the maximum tax rate from 39.6% to 29.6%. REITs often provide high dividends, and those dividends can increase over time as the REIT’s properties appreciate in asset value. eREIT If a $3,000 minimum, the initial investment is too rich for your blood, there is a company in the REIT arena called  Learn more about your ad choices. Visit <a href="https://megaphone.fm/adchoices" rel="nofollow" target="_blank">megaphone.fm/adchoices</a>

What the F**k is REIT Investing?

A few months ago we did an introduction to bonds episode. We wanted to get a little deeper into the topic and a listener, Eric, agreed to help us out. As you heard in the disclaimer, this is a complex topic. Stick with it though, it will all make sense by the end of the episode. There are many types of bonds but the most basic description would be, a bond is an IOU. A coupon is the interest payment and you get that on a semi-annual basis until the bond matures. At maturity, you get the face value back. A government bond is a treasury bond. These are often the benchmark that other bond rates are based on. Agency bonds are issued by government-sponsored agencies like Fannie May. Mortgage-backed securities are mortgages sold off by the mortgage lender. Corporate bonds are what many of us are familiar with. These are sold when a company needs to raise money. A municipal bond is issued by a city, town, state, or even a water company to fund expenses. Even Yankee Stadium has bonds! The yields are lower but from a tax stand point, they are a good investment. Bonds are affected by interest rates and their credit ratings. Triple A is the highest rating. Anything rated below Triple B- is considered a junk bond. Since most of our audience are buy and hold investors, we don’t need to be concerned with bond pricing on a day to day basis. You just need to be happy with the coupon payments you will receive and the credit rating of the bond. This is why Treasury bonds are a good investment for buy and holders. Phew, get all that? Show Notes Backpocket Brewing Penny Whistle: A Bavarian wheat with spice notes. Betterment: The easy way to invest. Learn more about your ad choices. Visit megaphone.fm/adchoices

A few months ago we did an introduction to bonds episode. We wanted to get a little deeper into the topic and a listener, Eric, agreed to help us out. As you heard in the disclaimer, this is a complex topic. Stick with it though, it will all make sense by the end of the episode. There are many types of bonds but the most basic description would be, a bond is an IOU. A coupon is the interest payment and you get that on a semi-annual basis until the bond matures. At maturity, you get the face value back. A government bond is a treasury bond. These are often the benchmark that other bond rates are based on. Agency bonds are issued by government-sponsored agencies like Fannie May. Mortgage-backed securities are mortgages sold off by the mortgage lender. Corporate bonds are what many of us are familiar with. These are sold when a company needs to raise money. A municipal bond is issued by a city, town, state, or even a water company to fund expenses. Even Yankee Stadium has bonds! The yields are lower but from a tax stand point, they are a good investment. Bonds are affected by interest rates and their credit ratings. Triple A is the highest rating. Anything rated below Triple B- is considered a junk bond. Since most of our audience are buy and hold investors, we don’t need to be concerned with bond pricing on a day to day basis. You just need to be happy with the coupon payments you will receive and the credit rating of the bond. This is why Treasury bonds are a good investment for buy and holders. Phew, get all that? Show Notes <a href="http://www.beeradvocate.com/beer/profile/30553/51799/" rel="nofollow" target="_blank">Backpocket Brewing Penny Whistle:</a> A Bavarian wheat with spice notes. <a href="https://www.listenmoneymatters.com/go/betterment/" rel="nofollow" target="_blank">Betterment:</a> The easy way to invest. Learn more about your ad choices. Visit <a href="https://megaphone.fm/adchoices" rel="nofollow" target="_blank">megaphone.fm/adchoices</a>

Getting Schooled On Bonds

We all make mistakes, but financial mistakes can be especially costly. These are the biggest financial mistakes people make and how to fix them. There are some mistakes you can’t fix, but financial mistakes usually don’t fall into that category. It’s not always easy, but most financial mistakes can be rectified. Joy Liu from The Financial Gym is here to tell us about the biggest financial mistakes she helps her clients fix.Full Article HereShow NotesTool Box: All the best stuff we use to manage our money.The Financial Gym:A personal trainer for your money! Learn more about your ad choices. Visit megaphone.fm/adchoices

We all make mistakes, but financial mistakes can be especially costly. These are the biggest financial mistakes people make and how to fix them. There are some mistakes you can’t fix, but financial mistakes usually don’t fall into that category. It’s not always easy, but most <a href="https://www.listenmoneymatters.com/big-money-mistakes-big-changes/" rel="nofollow" target="_blank">financial mistakes</a> can be rectified. Joy Liu from <a href="https://www.listenmoneymatters.com/go/the-financial-gym/" rel="nofollow" target="_blank">The Financial Gym</a> is here to tell us about the biggest financial mistakes she helps her clients fix.<a href="https://www.listenmoneymatters.com/the-biggest-financial-mistakes/%20" rel="nofollow" target="_blank">Full Article Here</a>Show Notes<a href="https://www.listenmoneymatters.com/toolbox/" rel="nofollow" target="_blank">Tool Box:</a> All the best stuff we use to manage our money.<a href="https://www.listenmoneymatters.com/go/the-financial-gym/" rel="nofollow" target="_blank">The Financial Gym:</a>A personal trainer for your money! Learn more about your ad choices. Visit <a href="https://megaphone.fm/adchoices" rel="nofollow" target="_blank">megaphone.fm/adchoices</a>

The Biggest Financial Mistakes People Make and How to Fix Them

The best podcast episodes on non-current politics. Covering topics such as universal basic income, democracy, poverty & justice and more. For anyone interested in learning more about politics that affect that world, not just now, but in the longer term. Add episodes you're interested into your queue below!

Best Non-Current Politics Podcasts

The Best Multi-Part Documentaries, with documentaries on Obama, Federer vs Nadal, the making of Star Wars, Netflix vs Blockbuster and more. Add episodes you're interested into your queue below!