12.4.20 Tesla Model S no longer recommended by Consumer Reports; Clark Stinks
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Consumer Reports has detailed some of the problems with the Tesla Model S.

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Retirement Answer Man
Retirement Answer Man
Roger Whitney, CFP®, CIMA®, RMA, CPWA®, AIF®
Retirement Plan Live 2021 - Unexpected Retirement: Counting It Up - Trish’s Resources
Last week in Retirement Plan Live, Trish dreamed up big dreams for her retirement. In this episode, we are going to outline her resources to see if she has the ability to fund those dreams. Organizing your resources is an important step in retirement planning. Listen in to learn how important it is to plan what you want to use your resources for, and let’s see if Trish has what it takes to build her retirement dreams. What is a resource? A resource is a natural source of wealth or revenue. It is also a natural feature that enhances the quality of life. It’s what you do with your resources that matters. If you are listening to this show you are probably over 50 which means that you have spent decades building your resources. You’ve built up all 3 categories of resources -- human capital, social capital, and financial capital. Human capital includes your skillset and reputation. Social capital includes pensions and Social Security. Financial capital doesn’t only include your money, it also includes houses and boats in addition to your retirement accounts. What will you use your resources for? When you look at your resources in retirement you have to ask yourself to what end are all these resources for? What is this money for? In retirement, your resources are meant to be used to express your values through your goals that you live out in the season of retirement. Dying with too much money is poor stewardship. It means that your resources were never harvested to live out your values. Think about what you want to do with your abundance. Be intentional and create the life that you want. Explore the options you have now so that you don’t leave your resources like a neglected crop left to be absorbed back into the earth. What kind of capital does Trish have? In our last episode, Trish dreamed big -- European vacations, a second and maybe 3rd home, a convertible, the works. Now that we’ve got her thinking big, we have to see what she can afford. It’s time to take stock of her resources. Just like you and I, Trish has social capital, human capital, and financial capital. She will collect Social Security when the time comes and would like to use her human capital in some capacity until she is 59. Listen in to hear how I walk her through her balance sheet and organize her resources. Check out the Rock Retirement Club to help you organize your own resources Have you been enjoying Retirement Plan Live? Would you like to have guidance as you organize your resources? In the Rock Retirement Club, we have a Retirement Masterclass that does just that. We walk you through all of this planning with worksheets and trainings and there is even an entire module that helps you organize all of your capital. Check it out at RockRetirementClub.com. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN WHAT DOES THAT MEAN? * [1:30] What is a resource? PRACTICAL PLANNING SEGMENT * [11:02] What kind of social capital does Trish have? * [15:32] Trish plans on using her human capital * [25:35] We organize Trish’s financial capital Q&A WITH NICHOLE * [36:10] How did we do on our words for 2020? * [37:32] Lisa asks how the 4% rule changes if you retire at 55 * [40:35] Should Jackie stop saving in her Roth IRA since her husband got laid off? * [44:53] Can Jim’s mother transfer an IRA to him? TODAY’S SMART SPRINT SEGMENT * [48:43] What is your word for 2021? Resources Mentioned In This Episode BOOK - So Good They Can’t Ignore You by Cal Newport Social Security Detailed Calculator Rock Retirement Club Roger’s YouTube Channel - Roger That BOOK - Rock Retirement by Roger Whitney Work with Roger Roger’s Retirement Learning Center
53 min
The Remote Real Estate Investor
The Remote Real Estate Investor
Not Ready to Buy a Property Yet? Here’s What You Should Do In The Meantime
Not in a buy cycle? In this episode, we talk about what investors can do in the meantime to prepare for when they are ready to invest. --- Transcript Tom: Greetings, and welcome to The Remote Real Estate Investor. On this weekend wisdom, we got a fun topic, it's what you can do as remote real estate investor, if you're not ready to buy, or not in an acquisition cycle, or just getting ready, all the different activities you can do to build the muscles to execute well, when it's time to buy. Alright, let's do it. All right, so this weekend wisdom is made for people who want to be remote real estate investor, or perhaps they are in remote real estate investor, and they are looking for things to do to help level up when they are just not ready to buy. Or perhaps they don't have the funds to buy something along those lines. So I've got a couple of ideas. But I think I'm going to make it more fun by just putting Emil on the spot. It looks like he's not necessarily listening. Alright Emil, what are some things that people who want to invest but perhaps are not ready to grab funds or whatever reason? How can they build muscles to be a good remote real estate investor without actually buying a property? Emil: I would say so I'm kind of going through this myself on a little temporary pause. I am trying to just network with other people who invest where I invest, either through Facebook groups, BiggerPockets, forums, Roofstock Academy, wherever it is just meeting other people who invest where I invest early in my investing career, I had this very scarcity mindset about real estate investing, like why would anyone want to share information with other investors, like we're all competing against one another. But really, so many investors are so giving and willing to like, talk with other investors, because there's not many of us out there. So when you find another investor, especially if you're a remote investor, it's like, you know, that's your community, that's a tribe people love sharing information and just like talking to each other and getting best practices and stuff. So like, for me, I've been trying to meet people who are local in St. Louis, talking to different property managers, different agents, just people who are local there who can help me, I don't know, get a better label and learn the market, find deals when I'm ready to find deals. So at this point, that's what I'm kind of focusing on. Tom: Love it. It's such a good one. And I think the logical fallacy that there's only you know, so many properties out there, and I need a box, everybody out is just such a logical fallacy. Like there's, there's literally millions of houses out there. And it's a great reason to connect and share. And I mean, I guess there could be situations, right, where you're making the property, you're making an offer on it, and somebody you know, is actively buying in that same area, like then it's reasonable to use a little bit of caution on very specific deals. But generally speaking, that's that's a fallacy. I think that I had as well getting into it thinking that, you know, it's a zero sum game. Michael: It could truly be a win win. I think, if you're thinking about that, and not willing to share information at a high level, like Tom you said, there are some things that of course, you want to keep your cards close to your vest, but at a high level, like if that's what you're thinking, then you're probably doing it wrong. Tom: All right, Michael, things you can do. As an investor, perhaps you're not ready to buy right now, or you're not in the buying cycle. Michael: Yeah, so similar to Emil. I'm kind of a great case study, because I'm not in a buy cycle. Right now. I am gearing up to be in a buy cycle. So right now, my wife and I sat down two weeks ago and are really honing in our finances and our spending and our savings rate, making sure that we are just storing up a bunch of dry powder. I'm also going through several refinances right now getting some equity out in the form of cash and just looking to hold on to that for a little bit. One so I can wrap up this project I've got working on and to just so I can have some more dry powder in the keg to deploy when I am ultimately ready to jump back into that buy cycle. So getting lean and mean and getting things in reserve. Emil: You hold dry powder in a keg? That's a dangerous man. Michael: That's not where you're supposed to hold right? Where do you hold your dry powder? Emil: On the floor? I don't know. Michael: But then there there's powder everywhere. Emil: In a savings account? Tom: On the shelf. Yes. Michael: I'm talking about dry powder in a pirate sense of the word. By the way, you know what the pirates favorite letter is? Emil: ARRR! Michael: No, that'd be the sea! Tom: Oh, Have you guys heard the Wellerman song remake? Ah, the Wellerman is just stuck in my head. It's like a pirate song and it was like a tick tock thing. Okay, here's your fun fact for the weekend wisdom. The wellerman is the person the ship that would deliver pirates their like goods. So like their tea and rum and stuff. And then the Tucker is the person from the whaling ship that had to clean the tongue anyways, sorry, that was it. So the Wellerman Search it up on YouTube while or when you guys will get it stuck in your head, catchy pirate song that was important. Michael: I added that I just love just continuing down this rabbit hole, how you're like, oh, delivering their goods like T and ROM as if that's the only thing that pirates consume. Like, no, they don't eat bread or cheese or meat just exclusively tea and rum, Tom: Listen to the Wellman song and you'll get it. Okay. Michael: Okay. I definitely will. So yeah, that has been my my wife's focus for the last several months here getting this probably over the finish line and getting lean and mean to be able to move forward easily. Some other things just that I think folks can do above and beyond, those two things are just starting to really learn their market and hone in what their buybox criteria look like. So if you are just starting to invest and not feeling like you're ready, yet, there's a number of things you can do. But first and foremost, go get educated, whatever that looks like. So whether that's joining the Roofstock Academy, or having someone hold your hand along the way, who has invested before getting very specific on your criteria, what you're expecting of your investments, and then learning about the different areas, different markets throughout the country, or the world, potentially, that will be able to give you those type of returns or meet those criteria, is what you should be spending the most of your time doing, because that's time very well spent. Tom: Awesome. I'll close this out here. So a couple of points that I was going to add on some of the existing stuff on learning the market super great. So pick a couple of markets that you think are you're interested in, I wouldn't have too many, just because what I'm gonna suggest you do is subscribe on there's a lot of online applications that you can get track, like sales as they're coming across like set boundaries in like similar to your buy box. So like set like the price range. And so you can just see every sold home and every new listing that comes up in that market. That's what we mean by knowing your market is like having a real pulse on what the transactions going on going in and going out are. So a lot of places where you can track that Roofstock is one of them, where you can follow properties on the education stuff. Roofstock is a great spot. There's a lot of good online education Roofstock Academy is great, it's risk free, it's a paid program, but it's full money back if you're not happy or satisfied, whatever. So that'll be my one quick plug for Roofstock Academy, coaching and 50 hours of online yada yada all that good stuff on the education side is to get nerdy with…
9 min
RV Podcast
RV Podcast
Mike Wendland
54 RVers Share the Most Important RV features they Expect in their Next RV
Listen up RV Industry! Here is what Real RVers say are the most important RV features they want when they buy their next RV. We surveyed and heard from more than 300 of them and it's clear they know what they want. And between the lines in their responses, it's equally clear that the RV Industry hasn't been delivering it. You can listen to the podcast in the player below. And scroll down this page for shownotes,  plus links and resources about all the things we talk about. Results of our Survey: The Most Important RV Features wanted by Real RVers We really hope the RV Industry gets ahold of this report because it's pretty clear to us that there seems to be a pretty big disconnect between what this industry is making and what real RVers want. Earlier this week, we asked a simple question on our RV Lifestyle Social Media accounts: What features do you want in your next RV? The response, from our RV Lifestyle Group, our RV Lifestyle Facebook Page, our RV Lifestyle YouTube community and our @rvlifestylemike Instagram followers was immediate, detailed, and well-informed. We had nearly 300 responses to that question, and more are still coming in. But from those responses we seen some clear trends. Here are the 10 things RVers say are the most important RV features they want in their next RV: Four-season capabilities, with things like heated tanks Lithium batteries for coach power Solar panels Office space for remote workers Ducted air conditioners Comfortable beds Stand up dry showers More storage space Pet friendly amenities Quality workmanship They said lots more, so much more we are going to share many of the messages we received on our voicemail line (586-372-6990) and we are going to print some selected text responses we received, too. From them all, we picked 54 responses that reflect on just about every single aspect of an RV. Clearly, consumers today know what they want. And clearly, many think the industry doesn’t know what they want. That’s why we think it so important for these voices from Real RVers be heard. Let’s start with some of the audio messages we received: Roger says local service and creature comforts count the most "Hi Mike and Jennifer, this is Rodger Stambaugh in response to your request about what we look for most in a RV. Number one is local maintenance of the chassis in the RV build. We recently ordered a Wonder we may have to change to a Unity because the local Ford dealer need not maintain that chassis of the Wonder. Next is a large storage area and a full-time bed. So in the unit they would go with the island bed, which has almost the same storage as The Wonder of rear twin beds. Next would be a dry restroom with a separate shower, and ease of dried driving, so it'd be a van chassis." Rod & Carla want a four-season camper "This is Rod and Carla in Topeka Kansas. We recently bought our first travel trailer a couple of months ago. Haven't even been out yet because of COVID but getting ready, learning a lot, reading a lot and learned a lot from this site. One thing on the table we will look for when we upgrade would be a four-season camper. We didn't even know there was such a thing before now. I think we would have to have that for starters. Enjoy camping" Reese wants an AWD Class C "Hi, Mike and Jen. My name is Reese with my husband is Mike and we're calling from Chesterfield, Virginia. We watch your Ask Us Anything show every Sunday night and have watched probably all videos over and over. Our next RV is actually our first RV and we have spent months and months during the shutdown, or lockdown, studying all the different models. And what we want for our next RV is a Class C model with all-wheel-drive, inverters, heated tanks, leveling jack options… things like that. We've looked at the Odyssey and the Quantum and the Four Winds and the Winnebago's and something lately called a Gemini.
46 min
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