Final Episode - How To Stay In Touch With Us!
Real Personal Finance
by Scott Frank and James Conole
1y ago
Scott and James thank all of the fans for years of support for listening to the podcast and review where you can find them if you're looking for customized advice when it comes to maximizing your finances.  LET'S CONNECT! James YouTube | Website | Podcast Scott Facebook | Twitter | Website ..read more
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How to Balance a Home Purchase with Saving for Retirement?
Real Personal Finance
by Scott Frank and James Conole
1y ago
Scott and James discuss how to balance a home purchase with saving for retirement. Listener Question: We want to stay in manhattan and want to be home owners but can’t make the math work. Our current rental 2 bed 2 bath just went up to $4400/mo. A comparable condo would sell around $1.3-$1.5m. That would put the mortgage at around $7,000 with another $2,000-$3,000 in maintainable and taxes a month. Rent does keep increasing and I don’t want to keep getting squeezed but does buying in Manhattan just not make sense?  Planning Points Discussed Utilizing Time Efficiently Capital Appreciation ..read more
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How Are Different Types of Investment Withdrawals Taxed?
Real Personal Finance
by Scott Frank and James Conole
1y ago
Scott and James discuss the tax implications of withdrawing income from various accounts in retirement. Listener Question: Can you talk about how some of the main retirement accounts are taxed upon withdrawal?  Example topic: Are withdrawals just subject to Federal taxes, or FICA taxes as well? And how / if withdrawing from retirement accounts affects eligibility / taxes you have to pay on social security?  Can you talk about how after tax brokerage accounts are taxed both while investing and when you start to withdraw? And what withdrawals from that look like when you are retired ..read more
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How Can I Reduce Costs Inside Of My Company's 401(k)?
Real Personal Finance
by Scott Frank and James Conole
1y ago
Scott and James discuss how to reduce costs inside of your company's 401(k). Join the Real Personal Finance Community and click on "The Nation" We're on YouTube here! Listener Question: What is a good expense ratio for a retirement account? Is this something you can control with an employer sponsored plan? I want to make sure my money is working for me and I am maximizing my returns 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 - Expense Overview ..read more
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How Should Real Estate Factor In My Retirement Plan?
Real Personal Finance
by Scott Frank and James Conole
1y ago
Scott and James discuss how real estate should factor into your retirement plan. Join the Real Personal Finance Community and click on "The Nation" We're on YouTube here! Listener Question: Me and my wife enjoy doing live and flip rentals and are planning on the cash flow to be part of our retirement funds. We are planning to move in a year and would like to pick up a third house to add to our portfolio when we do. How would you run the numbers to see if this is a safe investment for us. Ensure we are not taking on too much risk to expand. Planning Points Discussed Utilizing Time Efficiently ..read more
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How Should You Choose Survivor Benefits Options For Your Pension?
Real Personal Finance
by Scott Frank and James Conole
1y ago
Scott and James discuss how you should choose your survivor benefits options for your pension. Join the Real Personal Finance Community and click on "The Nation" We're on YouTube here! Listener Question: I'm not sure if this can be a whole show but I was wondering if you guys can go over how to think about choosing between the Survivor Benefit Plan (SBP) and whole or term insurance. I'm in the military and will be retiring soon. I work with a lot of members that are retiring and this choice seems like a coin flip or they simple go off of what someone else did. I know this decision is differen ..read more
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Misleading Financial Rules That You Should Avoid
Real Personal Finance
by Scott Frank and James Conole
1y ago
Scott and James discuss misleading financial rules to avoid. Join the Real Personal Finance Community and click on "The Nation" We're on YouTube here! Listener Question: How do you both think about the common wisdom that you should have a certain multiple of your income saved by a specific age (e.g. save at least 1x your salary by 30, 3x by 40, 6x by 50, 8x by 60, and 10x by 67)? I am in a situation where my income has tripled between ages 30 and 35. As an example, let's say I had 100K saved at age 30 (1x my salary), but I'm 35 and my salary is now 300K. I don't have 900K saved in retirement ..read more
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[BIG ANNOUNCEMENT!] How to Find the Right Solution For Your Financial Needs
Real Personal Finance
by Scott Frank and James Conole
1y ago
Scott and James discuss annuities and announce Real Personal Finance NATION! Join the Real Personal Finance Community and click on "The Nation" We're on YouTube here! Listener Question: I've met with multiple financial advisors and all of them have 2 things in common. 1. They all say they are Fiduciary. 2. They all try and pitch me on various types of annuities to supplement or augment my portfolio. Can you please address annuities on a show? Everything I have read online says to stay away from annuities (all types), and I am losing trust for the financial advisor industry. Are there cases wh ..read more
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What's the Best Way for a Career Changer to Get Into the Financial Planning Industry?
Real Personal Finance
by Scott Frank and James Conole
1y ago
Scott and James discuss the best way to enter the financial planning industry as a career changer. Wilson Liu Financial Resources We're on YouTube here! Listener Question: I really enjoy your podcast. I've had a 10-year career in nonprofit development, but I've had a passion for investing and personal finance since I was a little kid. I'm trying to pivot into wealth management. I know in a recent episode you addressed the path into the industry for someone coming out of college. I'd love to hear if you have any insight for someone making a pivot mid-career. Maybe the pathway is the same, but ..read more
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How Do You Know When You're on Track to be Financially Free?
Real Personal Finance
by Scott Frank and James Conole
1y ago
Scott and James discuss how you can know when you're financially free. NEW: We're on YouTube here! Listener Question: If you think we can step away from work when I hit "my number" whether it be at age 49 or 54 - knowing that I would only pull approx 3% from my brokerage until I reach 59.5. My goal would be to leave FT work at age 50, and have my wife and I only work PT or consulting to cover expenses and carry healthcare - w/o withdrawing from the portfolio until we hit our number (BTW we think total number is about 3.5M).  We're both 40 We have about 900,000 in liquid assets (not inclu ..read more
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