A special giving episode. Hogan talks about why it is better to give and shares the story of Janine, an outrageous giver, in Bonnyville, Alberta, Canada. Her charity is creating a ripple effect in her community. What ripple effect will you create?
Visit us at Ramsey Solutions in Nashville! If you are a fan of the show, Hogan’s producer, DW, wants to meet with you and hear your story. It doesn’t matter where you are on your journey to your high-definition dreams. DW wants to learn how you heard about us, hear your questions for Hogan, and get feedback about the show! If you ask for DW at the front desk and he’s in town, he'll want to come see you!
When you’re in debt, you’re making others wealthy—especially the bank! When you invest that money instead, you’re building wealth for yourself and your loved ones. In this episode, Chris Hogan gives you practical steps to get on track with growing wealth. As a bonus, to celebrate the 25th Anniversary of The Dave Ramsey Show, Hogan recalls a classic Dave story you probably never heard. Also featured in this episode: Retire Inspired poetry; Hear from the People; and a new Millionaire Moment.
1:30—A CLASSIC DAVE RAMSEY MOMENT
In light of the 25th Anniversary of The Dave Ramsey Show, Hogan recalls a time at an event where he was eyewitness to a classic Dave moment.
6:08—WEALTH BUILDING PLAN
Look at the big picture (@9:14).
Define your strategy (@11:09).
Match your actions to your goals (@12:01).
Invest with your style (@12:54).
Keep diversifying your investments (@13:36).
Stay focused on the long term (@14:23).
Don’t flinch (@14:53).
Understand your investing average (@15:40).
Get professional advice (@16:16).
Never hand off your dream (@17:07).
22:33—LISTEN UP VIPS
Chris gives a call back to Episode #26: You or Your Kids. He references an article that offers credit card tips to college students. Hogan gives his own advice for college students about living out their dreams so credit card companies don’t live out theirs. Article link: MSN article 7-credit-card-tips-for-soon-to-be-college-grads
Remember to share the RI podcast and subscribe! No one can promote our podcast better than you! Your friends and family can find the podcast on chrishogan360.com or on the following apps: Apple Podcasts, GooglePlay, and Stitcher.
26:10—THE SMOOTH, COOL POET
Hogan puts the beanie back on. With the aid of a little jazz, he performs retirement poems written and submitted by several VIPs:
A listener has a Baby Step 4 question about pensions, percentages and “gravy on the biscuit” (@30:57)
A 47-year-old listener asks a question about retirement savings and debt in regard to a ROTH investment (@33:18)
37:34—THE MILLIONAIRE MOMENT
Meet Ron, a self-made millionaire with a net worth of over 3 million dollars. He learned early on how to remove the word “can’t” from his vocabulary. Do you want to be a self-made millionaire like Ron? Then you need an investing plan. Click here for help:
Which should come first for you: save for retirement or college? There’s a 50% chance that your child will go to college and graduate, but there’s a 100% chance that you will retire—and possibly sooner than you think. In this episode, Chris talks about wants versus needs and higher education versus higher awareness. He offers several tips for parents who are thinking about their kids’ college and hoping to retire inspired. Also featured in this episode: a Hogan rant; Wake-Up Calls; The Takeaway: The Comeback; and a new Millionaire Moment.
1:30—YOUR KIDS’ COLLEGE VERSUS YOUR RETIREMENT
Hogan discusses the pressing dilemma of paying for kids’ college versus saving for retirement. He offers seven principles:
Do the math. (@13:38)
Don’t wander off into crazy land (@14:49)
Zero in on your options. (@15:27)
Remember, your kids are not doomed if you can’t pay their tuition. (@16:02)
Talk to your kids often. (@17:03)
Work with your kids to create a good plan. (@18:01)
Do the federal paperwork. (@18:47)
22:13—LISTEN UP VIPS
At daveramsey.com, we are giving away $20,000 throughout the month of May. You can your name each day to try to win your share! Email us your retirement dreams and wins @ email@example.com.
Hogan references a survey in which 84% of people say they have less than $10,000 in their savings.
A 52-year-old VIP who wants to retire but has $38k of debt (@29:18)
A VIP who needs help with real estate (@33:05)
A VIP who needs investing help (@36:32)
39:20 —THE TAKEAWAY: THE COMEBACK
Hogan gives solid advice on what to do when you’ve made financial mistakes.
46:02—THE MILLIONAIRE MOMENT
Hogan shares insight from a self-made millionaire couple in their 30s, Victoria and Jeremy, whose net worth is over $1.2 million. They’re first generation millionaires who understand the importance of money management and giving.
48:35—CALL TO ACTION
Hogan wants to invite you to be a part of our rapidly growing online community. Go on Facebook and search: Hogan’s Retirement Challenge.
Help your circle of influence by telling them about the Retire Inspired Quotient tool (R:IQ) at chrishogan360.com
The 401(k) is a tool for building your financial future, but many people have questions about it. So many people have emailed Hogan regarding the subject that we’ve dedicated an entire episode to take an in-depth look at the 401(k), 403(b), and other similar investing options. He also answers some of the most common questions asked about the topic. Also featured in this episode: Exclusive Backstage Access from a recent Retire Inspired Event; The Takeaway: Mountain Climbing; and a new Millionaire Moment. Professor Hogan also makes a cameo appearance and defines financial jargon and pop culture terms.
Emails with questions about all things 401(k) have flooded in. Hogan responds with answers that make sense. Here are the topics and time codes:
Tools and bridges (@2:22)
Baby-step skippers beware (@3:08)
401(k) defined (@6:04)
Don’t uproot the bush (compound interest) (@6:42)
Differences between 401(k), 403(b), 457, and TSP (@8:16)
Investing options and professional help (@9:39)
How do the 401(k) and Roth 401(k) actually work? (@10:16)
Employer matching (@12:08)
Changing employers and roll overs (@13:30)
Common questions and answers (@14:50)
For more information:
Go to chrishogan360.com for articles about the 401(k) and other similar investing options.
While on Hogan’s site, click on “Dream Team” and connect with a SmartVestor Pro who can answer your specific investing questions.
Check out Chris Hogan’s book, Retire Inspired: It’s Not An Age; It’s a Financial Number. Both Chapter 5 and Chapter 6 address the topic of investing.
20:56—EXCLUSIVE BACKSTAGE ACCESS
Listen in on another VIP backstage experience, the Q&A session, at one of the Retired Inspired live events. Hogan and a SmartVestor Pro answer questions on investing and retirement:
Hogan answers a question about spouses and home repairs (@21:22).
Hogan and a SmartVestor Pro answer a question about investing options (@23:59).
Hogan and a SmartVestor Pro answer a question about investing 15% and the Roth 401(k) (@27:07).
Hogan answers a question about mortgage payments and investing amounts (@29:14).
31:40—SPECIAL EVENT OFFER
If you want to see Hogan live, we’re offering $10 off his events in April and May. Go to “events” on the menu bar at chrishogan360.com and use the code HOGANPODCAST at checkout.
Professor Hogan breaks down and defines more of those ten-dollar financial terms that seem like a bunch of gobbledygook.
What are non-managed index funds and managed mutual funds? (@32:53)
From Rachel Cruze’s book, Love Your Life Not Theirs, what is a “life hack”? (@33:47)
What exactly does ROI stand for and mean? (@34:46)
What are the age ranges for millennials, Gen X, and Gen Y? (@35:28)
37:36—THE MILLIONAIRE MOMENT
Hogan shares insight from a self-made millionaire, Carolyn, whose net worth is over $1.3 million. She proves that living like no one else now is worth it in the long run.
40:17 —THE TAKEAWAY: MOUNTAIN CLIMBING
49:08—CALL TO ACTION
Help your circle of influence by telling them about the Retire Inspired Quotient tool (R:IQ) and the investing professionals called SmartVestor Pros. Information on both are at chrishogan360.com
Email us your retirement dreams or wins, your halftime speeches, and your Retire Inspired poetry. Send them to firstname.lastname@example.org. You can also write a review of the Retire Inspired podcast on iTunes and subscribe to future episodes.