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

MTI082: Terrance Odean – Making Simple Smart Financial Decisions

In this complex world of finance, we need to keep these main areas simple: Saving, insurance and investing

1. Saving, Spending, and Credit

If you aren’t saving enough you are probably spending too much. One reason is today it is easier to spend money.

For example: You have to pay off your credit card every month. If you can’t maintain the discipline to pay off credit card debt every month then you are better off not using a credit card.

It’s also harder to know how much to save. Working 35 years at one company for a pension ensured an income stream for the rest of your life. The U.S., we have had a big switch from traditional pensions to what are called defined contribution pensions like 401k plans. This puts the all the responsibility to save and invest wisely on the individual worker.

Commit today to raise your savings rate in the future. For instance, commit to putting half of your next raise into savings. This makes saving more palatable.

2. Insurance (Car, Home, Life)

Terrance Odean recommends we figure out what insurance we need and what we don’t need.

When it comes to life insurance, if someone is dependent on your income to live then you need life insurance. With car insurance, homeowner’s or renter’s insurance – go out and get quotes from 3-4 companies. You may be surprised by the difference in prices between companies.

Also consider taking a bigger deductible. Choose a deductible that won’t be a disaster for you that it would set you back financially.

You can get better investment returns and the same amount of life insurance coverage if you separate your insurance and investing into term life insurance and investing in mutual funds or other products. There may be people who have unusual circumstances that would benefit form one of these more complex insurance product, but the fees tend to be quite high when compared to other investment vehicles like index or mutual funds.

3. Keep Investing Simple

Complexity is the enemy of the consumer.

The financial services industry likes complex products because it makes it difficult for consumers to compare products between companies.

Commit to having savings and investment contributions automated with each paycheck.

 

To find out more about Terance Odean and sign up for his free course, visit Odean.org.

 

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.

Send us your questions for a future Listener Letters episode

Money Tree Investing Podcast Logo

MTI081: Build Wealth, Not a Credit Score with Steve Stewart

Can you be credit worthy without a credit score? That’s what Financial Wellness Coach, Steve Stewart, believes.

A credit score is based on your credit report – but the only things on credit reports are debts, debt products, and bills that don’t get paid (bad debts).

What doesn’t get reported are everyday bills like cell phones, cable, and car insurance. Even rent gets no love from the majority of credit score algorithms.

Instead of playing the credit score game, Steve recommends you increase monthly cash-flow by eliminating all consumer debt and increase savings.

What does the round-table think? Listen to find out.

You can find more information about Steve Stewart at http://SteveStewart.me

Today’s Panelists

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

MTI080: Safety Scores with Kevin Stewart

Kevin Stewart introduced the Safety Score to StocksForTheWeek.com.

The Safety Score looks at the typical income statement items a financial analyst would use to come up with a score for more than 2,400 companies.

At a glance someone could quickly look at which sectors, industries and companies are safest to invest in.

Find out more about Kevin Stewart or download one of their apps at www.stocksfortheweek.com

 

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

Money Tree Investing Podcast Logo

MTI079: Listener Questions on ETF Arbitrage, Index Funds, and Pay Down Mortgage or Invest

We are back to answer your questions!

John bought oil stock and lost money. Then bought the Direxion Daily S&P500 Bull 3X ETF (SPXL) at the low – about $64. What do we think about it?

Rick wants to know if two ETF that are the inverse of each other, meaning one is up 2 percent and the other is down 2 percent, is there an arbitrage opportunity if one is up 2 percent and the other down 1 percent?

Isabelle is very interested to invest in Money Tree but I have no idea what it is? Doug marks the price and Linda explains the process.

Andrew reflects on a previous episode where Doug Goldstein gave the example around the 1830 mark about investing $400,000 with a hypothetical of a 50/50 split between stocks/bonds. Would he really put $200,000 into the S&P Index fund?

David is a 24yr old and started dipping into ETFs. What are some suggestions for spotting good ETF’s? He looks at expense ratios, fees, tracking errors and finding your asset class. Any there other good indicators?

Scott has an extra $100 a month and just got bought a house with a mortgage. Does it make sense to pay an extra $100 at the beginning of the amortization schedule and then switch 10 years down the road to investing? Would the return on the first 10 years have benefited me more than paying down the mortgage?

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