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4.80 stars

21:53

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Real Personal Finance

by Scott Frank and James Conole

Your REAL personal finance questions answered by CERTIFIED FINANCIAL PLANNER™ professionals, Scott Frank and James Conole. With all of the misinformation and jargon in the financial industry, it's no wonder most people are confused about how to best manage their money. James and Scott are here to give clear answers to the important questions they hear most often. If you're ready to use your finances to create a more secure financial future, this show is for you.

Episodes

What's the Most Effective Way to Incorporate Giving Into Your Financial Plan?

26m · Published 16 Nov 11:00

Scott and James discuss the most effective way to incorporate giving into your financial plan.

NEW: We're on YouTube here!

Listener Question:

Am I on track to retire at 52? Am I over-investing in retirement at the expense of more freedom now? How would you recommend incorporating pension plans into overall retirement planning (ideal year:pension percentage break-even point?)?

Planning Points Discussed

Utilizing Time Efficiently
Capital Appreciation
Purchasing Power
Other issues (IRAs, Inflation, Financial Goals, etc.)

Timestamps:

2:30 - We're on YouTube HERE!

6:17 - Redefining Giving

10:30 - Truth of Money

13:16 - 503(c) organizations

18:20 - Tax Planning

20:53 - Life Insurance

22:49 - Business Assets

26:00 - Aligning Your Financial Goals

LET'S CONNECT!

James

YouTube LinkedIn Website

Scott

Facebook Twitter Website

ENJOY THE SHOW?

Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play.

What's the Most Effective Way to Incorporate Giving Into Your Financial Plan?

26m · Published 16 Nov 11:00

Scott and James discuss the most effective way to incorporate giving into your financial plan.

NEW: We're on YouTube here!

Listener Question:

Planning Points Discussed

Utilizing Time Efficiently
Capital Appreciation
Purchasing Power
Other issues (IRAs, Inflation, Financial Goals, etc.)

Timestamps:

2:30 - We're on YouTube HERE!

6:17 - Redefining Giving

10:30 - Truth of Money

13:16 - 503(c) organizations

18:20 - Tax Planning

20:53 - Life Insurance

22:49 - Business Assets

26:00 - Aligning Your Financial Goals

LET'S CONNECT!

James

YouTube LinkedIn Website

Scott

Facebook Twitter Website

ENJOY THE SHOW?

Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play.

Does it Ever Make Sense to Purchase a Home with All Cash Down?

27m · Published 09 Nov 11:00

Scott and James discuss if you should ever purchase your home fully in cash.

NEW: We're on YouTube here!

Listener Question:

I’m 27 and my goal is to have a paid for house by the time I'm 45. In the next 18 years, if I save and invest aggressively will I have potentially have enough to pay in cash or is it better to get the mortgage when I'm able to and pay the interest because house prices will go up more than what I could earn in interest in the stock market? To me, it seems that any appreciation the house might gain will be lost in the interest I'm paying to the bank for the mortgage. I don't want to pay interest and since I can't even get a loan for enough to buy a house in my area I'm wondering if it's not a better idea to save in an investment account and once the account reaches the right number, use that money to buy the house without a mortgage.

Planning Points Discussed

Utilizing Time Efficiently
Capital Appreciation
Purchasing Power
Other issues (IRAs, Inflation, Financial Goals, etc.)

Timestamps:

2:30 - We're on YouTube HERE!

5:02 - Assumptions

10:30 - Understanding Interest

14:14 - Personal Finance is Personal

18:20 - Subjective & Objective Personal Finance

23:00 - Aligning Your Financial Goals

LET'S CONNECT!

James

YouTube LinkedIn Website

Scott

Facebook Twitter Website

ENJOY THE SHOW?

Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play.

Does it Ever Make Sense to Purchase a Home with All Cash Down?

27m · Published 09 Nov 11:00

Scott and James discuss if you should ever purchase your home fully in cash.

NEW: We're on YouTube here!

Listener Question:

Planning Points Discussed

Utilizing Time Efficiently
Capital Appreciation
Purchasing Power
Other issues (IRAs, Inflation, Financial Goals, etc.)

Timestamps:

2:30 - We're on YouTube HERE!

5:02 - Assumptions

10:30 - Understanding Interest

14:14 - Personal Finance is Personal

18:20 - Subjective & Objective Personal Finance

23:00 - Aligning Your Financial Goals

LET'S CONNECT!

James

YouTube LinkedIn Website

Scott

Facebook Twitter Website

ENJOY THE SHOW?

Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play.

How Does A Pension Fit In Your Overall Retirement Plan?

23m · Published 02 Nov 10:00

Scott and James discuss how a pension fits into your overall retirement plan.

NEW: We're on YouTube here!

Listener Question:

Planning Points Discussed

Utilizing Time Efficiently
Capital Appreciation
Purchasing Power
Other issues (IRAs, Inflation, Financial Goals, etc.)

Timestamps:

2:30 - We're on YouTube HERE!

5:02 - Assumptions

10:30 - Retirement Planning

14:14 - Pension Considerations

18:20 - Subjective & Objective Personal Finance

20:53 - Life Insurance

22:11 - Optimizing Finances

23:00 - Aligning Your Financial Goals

LET'S CONNECT!

James

YouTube LinkedIn Website

Scott

Facebook Twitter Website

ENJOY THE SHOW?

Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play.

How Does A Pension Fit In Your Overall Retirement Plan?

23m · Published 02 Nov 10:00

Scott and James discuss how a pension fits into your overall retirement plan.

NEW: We're on YouTube here!

Listener Question:

Planning Points Discussed

Utilizing Time Efficiently
Capital Appreciation
Purchasing Power
Other issues (IRAs, Inflation, Financial Goals, etc.)

Timestamps:

2:30 - We're on YouTube HERE!

5:02 - Assumptions

10:30 - Retirement Planning

14:14 - Pension Considerations

18:20 - Subjective & Objective Personal Finance

20:53 - Life Insurance

22:11 - Optimizing Finances

23:00 - Aligning Your Financial Goals

LET'S CONNECT!

James

YouTube LinkedIn Website

Scott

Facebook Twitter Website

ENJOY THE SHOW?

Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play.

175 - 5 Employee Benefits To Get Right During Annual Enrollment

37m · Published 27 Oct 15:19

Scott and James discuss the 5 employee benefits to get right during annual enrollment!

NEW: We're on YouTube here!

Planning Points Discussed

Utilizing Time Efficiently
Capital Appreciation
Purchasing Power
Other issues (IRAs, Inflation, Financial Goals, etc.)

Timestamps:

2:30 - We're on YouTube HERE!

4:25 - Retirement Contributions

10:59 - Credit Card Interest Rates

16:26 - Healthcare Considerations

23:05 - Life Insurance Coverage

29:12 - Savings Rates

33:39 - Deferred Compensation

36:00 - Aligning Your Financial Goals

LET'S CONNECT!

James

YouTube LinkedIn Website

Scott

Facebook Twitter Website

ENJOY THE SHOW?

Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play.

174 - Is Roth or Traditional Better for FIRE?

26m · Published 19 Oct 07:00

Scott and James discuss if Roth or Traditional is better for FIRE (Financial Independence, Retire Early).

NEW: We're on YouTube here!

Listener Question:

I’m wondering if I should change my 401k strategy from traditional to roth? I’m a 35 year old high earner making around $175k a year plus bonus. I’m currently maxing my traditional 401k plus a 5% match from my employer. I need to work another 7 year to hit my FI number ($2.5M) and I have $160k in my traditional 401k right now. When I run the numbers on compounding interest, I show that I’ll have somewhere between and $1.2M - $2M in traditional when I hit 59 1/2 if I just continue getting my match (no more personal contributions). I feel like if I continue to contribute to traditional 401k, I will have a huge tax bill when I hit 59 1/2 and I'm worried about RMDs. What should I do? Do I continue to take the tax deduction now since I’m a high earner or transition to roth to create more tax diversification? On a side note, I’m already performing a roth ira conversion each year ($6k), maxing my HSA ($7.3k), and contributing to a brokerage account monthly ($1.5k).

Planning Points Discussed

Utilizing Time Efficiently
Capital Appreciation
Purchasing Power
Other issues (IRAs, Inflation, Financial Goals, etc.)

Timestamps:

2:30 - We're on YouTube HERE!

4:35 - Listener Question Summary

8:37 - Tax Basics

13:47 - 401(k) Maximum

18:20 - Optimize Income & Savings

21:57 - Savings Rates

24:22 - Personal Capital

26:00 - Aligning Your Financial Goals

LET'S CONNECT!

James

YouTube LinkedIn Website

Scott

Facebook Twitter Website

ENJOY THE SHOW?

Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play.

173 - Should I Dip into My Retirement Accounts to Purchase a Home?

21m · Published 12 Oct 07:00

Scott and James discuss if you should dip into your retirement accounts to purchase a home.

NEW: We're on YouTube here!

Listener Question:

Should I max out all of our retirement accounts and consider taking a loan against my 457b or take out contributions from my Roth IRA in order to make a sizeable down payment for this second home in the future? Or should I allocate a portion of that savings money into a brokerage account instead for 10 years to save for this down payment? I am leaning toward taking a loan/Roth contribution instead of brokerage due to 1) tax benefits 2) simplicity and 3) because I view it as essentially "diversifying" my retirement by putting that money toward a lakehouse.

Planning Points Discussed

Utilizing Time Efficiently
Capital Appreciation
Purchasing Power
Other issues (IRAs, Inflation, Financial Goals, etc.)

Timestamps:

2:30 - We're on YouTube HERE!

4:15 - Listener Summary

6:35 - Insurance Needs

10:32 - Different Goals & Priorities

14:30 - When To Make a Purchase

17:19 - Property Growth

20:35 - Aligning Your Financial Goals

LET'S CONNECT!

James

YouTube LinkedIn Website

Scott

Facebook Twitter Website

ENJOY THE SHOW?

Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play.

172 - What Should I Do When I I Receive a Significant Bump in Income?

22m · Published 05 Oct 07:00

Scott and James discuss what to do when you receive a significant bump in income.

NEW: We're on YouTube here!

Listener Question:

I would like to do the more in-depth analysis you mentioned on today’s podcast if you are willing. We hope to retire in the next 5 years, at age 55/56. I am eligible to begin receiving a pension after this year, but plan to "double-dip" for the next 4-5. I have questions about 403(b) and 457 accounts, rollovers, and distributions.

Planning Points Discussed

Utilizing Time Efficiently
Capital Appreciation
Purchasing Power
Other issues (IRAs, Inflation, Financial Goals, etc.)

Timestamps:

2:30 - We're on YouTube HERE!

4:15 - Income Basics

10:02 - Income Raises & Planning Changes

17:38 - How Much To Save For Different Goals

20:32 - Aligning Your Financial Goals

LET'S CONNECT!

James

YouTube LinkedIn Website

Scott

Facebook Twitter Website

ENJOY THE SHOW?

Don’t miss an episode, subscribe via iTunes, Stitcher, Spotify, or Google Play.

Real Personal Finance has 216 episodes in total of non- explicit content. Total playtime is 78:49:48. The language of the podcast is English. This podcast has been added on October 26th 2022. It might contain more episodes than the ones shown here. It was last updated on March 2nd, 2024 19:10.