MTI092: How to Raise Financially Fit Kids with Shannon McLay

Our guest, Shannon McLay from FinancialGym.net, says ““Financial Literacy starts in the home”. She shares stories of her son’s experiences with money at a young age and how we too can raise a financially fit kid.

7 Tips to Teach Children the Value of Money

Tip #1: Say No
Tip #2: When you can say Yes, have a budget and set parameters around the decision
Tip #3: The ultimate teacher of financial literacy and money is CASH. It teaches math skills and healthy spending boundaries
Tip #4: Let your kids have financial failures
Tip #5: Make them responsible for their wants
Tip #6: Kids need to earn their money
Tip #7: Allow them to participate in family financial decisions

 

“Financial Literacy starts in the home” – Shannon McLay, Mother and Financial Planner

 

Then, the roundtable gets together to discuss giving kids and allowance and ask, “When is the right age to begin teaching children about money?” We also share our first jobs and money lessons learned when we were kids.

You can find out more about Shannon on her website, her podcast Martinis and Your Money, and Twitter

Today’s Panelists

Linda P. Jones | Be Wealthy and Smart
Joe Saul-Sehy | Stacking Benjamins
Miranda Marquit | Adulting.TV
Doug Goldstein | Rich as a King

For a quick bio of each of our show participants, head on over to our panelists page.

Send us your questions for a future Listener Letters episode

MTI091: Listener Letters about Finding an Investment Mentor, Stock Target Prices, and Investing Too Much

Time again for our panel to answer your questions:

*Justin wants to know what analysts mean by a stock target price?
*Emily is worried she may be saving TOO much.
*Listener “Invest Passionately” wants to know the panel’s opinion of target date funds.
*Annie is hearing rumors and reports of an upcoming market crash. Is this a time to sell or sit tight?
*Alejandro wants to know how to find an investing mentor.
*Bridget comments about guaranteed minimum income, then asks if there is a role for mental imagery/visualization training to prevent people from pulling out of the market in a panic, similar to techniques athletes use in training?

 

Do you agree? Send us your questions for a future Listener Letters episode or comment below.

 

Today’s Panelists

Miranda “Mirandela” Marquit | Planting Money Seeds
Doug “Dougie” Goldstein | Goldstein on Gelt
Linda “Lindy” P Jones | Be Wealthy And Smart

MTI090: Peter Schiff on Government Regulation and Financial Troubles

Economist and stockbroker, Peter Schiff, wonders if we would have Jetsons-like lives if the government didn’t put so many regulations on business.

In today’s episode, we discuss inflation, regulation, and stagnation

“Who knows what extra inventions we would have come up with if we had less government. Who knows what diseases we would have cured if we didn’t have the FDA. If the government didn’t make it so expensive to develop cures, maybe we could have cured cancer by know. Who knows? We don’t know but I think we would have a much higher standard of living with less government regulation” – Peter Schiff

Our expert panel discussion topics:

Is the negative trade balance in America due to the fact that Americans don’t have so much to export to the rest of the world?

Can we continue to support Social Security in its current state?

Would less government make our lives better?

Listen to the panel as they review Peter Schiff’s positions and the role of government in our financial lives.

Where you can find more Peter Schiffness:

Peter Schiff Radio: http://www.schiffradio.com/the-peter-schiff-show-podcast
The Schiff Report on YouTube: https://www.youtube.com/user/SchiffReport
Book: The Real Crash: America’s Coming Bankruptcy – How to Save Yourself and Your Country
Peter Schiff’s brokers: http://www.europac.com
Buy and sell gold or silver: http://schiffgold.com
Peter Schiff on Twitter: @PeterSchiff

 

Today’s Panelists

Doug Goldstein | Goldstein On Gelt
Barbara Friedberg | Barbara Friedberg Personal Finance
Miranda Marquit | Planting Money Seeds
Joe Saul-Sehy | Stacking Benjamins

For a quick bio of each of our show participants, head on over to our panelists page.

Send us your questions for a future Listener Letters episode

MTI089: Investing in Mobile Home Parks with Jefferson Lilly

Many investors don’t think about investing in mobile home parks.

Jefferson Lilly says most investors never considered buying into this asset class or think negatively about mobile home parks.

Consider this:

  • No new mobile home parks are being developed
  • About 1 percent of existing mobile home parks are being torn down
  • Demand for mobile homes is rising

This means demand in park ownership is low while inventory on the market is shrinking.

Also, the cost of maintaining the land is less expensive than maintaining a rental property. Jefferson Lilly explains how an On-site Manager is in charge of taking care of the properties in their current state and an Asset Manager works to improve the site overall – such as roads and drainage, etc.

You can learn more about mobile home park investing at Jefferson Lilly’s website http://ParkStreetPartners.net

Today’s Panelists

Miranda Marquit | Planting Money Seeds
Doug Goldstein | Rich as a King
Joe Saul-Sehy | Stacking Benjamins
Linda P. Jones | Be Wealthy and Smart

For a quick bio of each of our show participants, head on over to our panelists page.

 

Send us your questions for a future Listener Letters episode

 

MTI088: Making the Most of Credit Card Rewards with David Shelhammer

David Shelhammer is a credit card reward enthusiast.

He believes collecting credit card rewards or cash back from using credit cards can be a lucrative hobby.

David admits, along with our roundtable panelists, that they aren’t for everyone and you need to be in the position to take advantage of rewards rather than the reward cards taking advantage of you. Point collectors need to be able to pay off the credit card statement every month or the rewards become less lucrative.

Other considerations when selecting a rewards credit card:

  • Decide if you prefer to get cash back or rewards points
  • Be selective with the types of credit cards you choose for reward programs
  • Be aware of the expenses that may come along with rewards cards
  • Watch the fine print and be aware of redemption restrictions
  • Some cards pay higher rewards at certain stores or through specific companies

Today’s Panelists

Linda P. Jones | Be Wealthy and Smart
Shannon McLay | Martinis and Your Money
Miranda Marquit | Money Mastermind Show
Doug Goldstein | Goldstein On Gelt

For a quick bio of each of our show participants, head on over to our panelists page.

Send us your questions for a future Listener Letters episode

MTI087: Being a Socially Responsible Investor with Bill Holliday

Are you socially responsible with your investments?

Bill Holliday joins us to talk about SRIs (Socially Responsible Investments), what qualifies as an SRI, and if there is a place in our portfolio for such a niche type of investment.

Of course, our roundtable jumps on it to share how they invest responsibly and take a random walk down YouTube for a really cool awesome hoverboard video.

Connect with Bill Holliday on Twitter, his website, or check out his podcast on iTunes

Today’s Panelists

Joe Saul-Sehy | Stacking Benjamins Green Room
Miranda Marquit | Money Mastermind Show
Linda P. Jones | Be Wealthy and Smart
Doug Goldstein | Profile-financial.com

For a quick bio of each of our show participants, head on over to our panelists page.

Send us your questions for a future Listener Letters episode

MTI086: Burton Malkiel on Low Interest Rates, Corporate Bonds, and Dividend-paying Stocks for Retirees

 

Burton Malkiel is an American economist and writer, most famous for his classic finance book A Random Walk Down Wall Street.

He discusses ways retires should look at the current state of interest rates, purchasing corporate bonds, and dividend-paying stocks.

Following Mr. Malkiel’s talk with Doug, the rest of the panel discuss:

  • Should retirees buy preferred stock?
  • Are corporate bond funds really smart, since they don’t have a maturity date?
  • Would you encourage a nervous retiree to buy dividend-paying stocks?
  • Should people eat into principal as a way of funding retirement?
  • He didn’t mention real estate as a way to get income. Do you think it’s a good tool?
  • Is there anything truly wrong with being a gold digger and finding some wealthy widow or widower to marry for a few years and then collect a windfall at the end?

Yes, the roundtable tackles that last question in true Money Tree style.

Today’s Panelists

Doug Goldstein | Goldstein On Gelt
Joe Saul-Sehy | Stacking Benjamins
Miranda Marquit | Planting Money Seeds
Linda P. Jones | Be Wealthy and Smart

For a quick bio of each of our show participants, head on over to our panelists page.

Send us your questions for a future Listener Letters episode

MTI085: Investing an Inheritance, Dollar Cost Averaging, and Universal Basic Income

The panel discusses questions from YOU, the listeners!

  • Daniel is worried about pricing limit orders below flash-crash prices. How does he protect his valuable assets from doom (his words, not ours)
  • 30 year old, Sonny, wants to know if it is better to spread out his investment by dollar-cost averaging or dump it in all at once.
  • Chris wonders if using an automatic algorithm to purchase things every time the market dipped as little as .5% or 1% would be a good long-run strategy. Also, if the United States moved to Universal Basic Income, as some European nations are trying now, what would that look like for our economy, investing, and the markets?
  • Aaron wants help to figure out an exit strategy before he gets into ETFs.
  • Charlie wants to become a CFP (Certified Financial Planner) and wants to know which series test he should take to make stock recommendations to future clients.
  • Krista is 27 years old and struggling to figure out how to invest a large sum of inherited money.

Do you agree with the Panelists?

Send us your comments, questions, or strong arguments for a future Listener Letters episode

Today’s Panelists

Doug Goldstein | Rich as a King
Miranda Marquit | Planting Money Seeds
Linda P. Jones | Be Wealthy and Smart
Joe Saul-Sehy | Stacking Benjamins

For a quick bio of each of our show participants, head on over to our panelists page.

MTI084: Ty Crandall on Business Funding

Investing in your business is investing in yourself. A business can contribute to your retirement as an asset you could either sell or create an income for years to come.

Our guest, Ty Crandall, believes you can finance a business without putting our own money or assets at risk. He points out some alternative lending ideas for raising capital or borrowing business credit. Crowdfunding and angel investors are the most attractive options, but are more difficult to obtain. It is easier to use assets to obtain the credit to borrow money without the need for a personal guarantee (in many cases).

The round table discusses their experiences and thoughts about borrowing to build a business and where it seems appropriate or too risky.

You can find more about Ty Crandall on Twitter or at his website www.CreditSuite.com/ein

 

Today’s Panelists

For a quick bio of each of our show participants, head on over to our panelists page.

Send us your questions for a future Listener Letters episode

MTI083: Adaptive Asset Allocation with Adam Butler

Adam Butler is CFA and CEO of ReSolve Asset Management. He co-wrote a book, Adaptive Asset Allocation, with Michael Philbrick and Rodrigo Gordillo.

Adaptive asset allocation is a form of market rotation. The presumption is you have “some sort of edge over the active market participant in selecting which asset is going to under-perform or outperform with a risk adjusted basis over a shorter term horizon”.

The premise is there are long-term anomalies in markets to take advantage of.

Our panel discusses if – and when – it’s appropriate to take these risks.

You can find more about Alan Butler at InvestReSolve.com
Pick up the book, Adaptive Asset Allocation, at Amazon.com

 

Today’s Panelists

Joe Saul-Sehy | Stacking Benjamins
Doug Goldstein | Goldstein On Gelt
Miranda Marquit | Planting Money Seeds
Linda P. Jones | Be Wealthy and Smart

For a quick bio of each of our show participants, head on over to our panelists page.

Send us your questions for a future Listener Letters episode