Murder and Fortune at the Plaza Hotel (with Julie Satow)
Play • 1 hr 13 min

What do New York City's richest residents, murderous unions, and world-famous guests like Marilyn Monroe and the Beatles have in common? The Plaza Hotel! Julie Satow, award-winning journalist and author of The Plaza, joins us today to share the century of fascinating stories the hotel holds between its walls. From fortunes beyond measure to the Great Depression, from the Golden Age of Hollywood to Home Alone 2, the Plaza Hotel has never been shy about its place in history.

Plus, believe it or not, we're about to enter tax season! Tax expert Katherine Pomerantz joins us during today's headlines to share all-new tax rules. Between relaxed guidelines on charitable giving, new deductions for your student loan payments, and more savings than you'd think for your home office, this is one tax talk that'll keep you listening.

Cole and his wife are DINKS, and are contributing heavily to their IRAs and Roth accounts. They're planning on semi-retiring early and are looking for some advice on how they can best invest for the long-term, keep money relatively liquid, and have enough cash for living expenses. Thoughts? (And OH BOY, does Joe have some thoughts on this one. You don't want to miss this). Of course, after a short and sweet rant, Cole gets plenty of great advice for the future. Of course, we'll also save time for Doug's trivia, and much, much more. Thanks for listening!

Money! with Stacy Johnson
Money! with Stacy Johnson
MoneyTalksNews.com
Talking Money with Your Honey: How to Do It Painlessly
When my wife and I joined households 11 years ago, we combined our kitchen stuff, our furniture, our linens and just about everything else. The one thing we didn't combine? Our money. When it comes to money, she does her thing and I do mine. About the only time our money meets is on our joint tax return. This is the system that works for us, although it likely wouldn't work for everyone. That's the thing with money and relationships; there's no right answer. Anyone who tells you there's only one correct way to mix money and marriage, and there are plenty of "experts" who do, is just plain wrong. The one thing that's universally true is that money secrets are bad. My wife and I don't combine our money, but we do discuss it. Often. Whether you've been together for 30 months or 30 years, avoiding talking money puts your relationship at risk. This is especially true if you combine your finances and have different money "personalities" (spender or borrower vs saver or investor) and even more critical if finances are tight. To nobody's surprise, money routinely surveys as a major source of stress. So when, and exactly how, can we discuss money with our significant others without causing friction? How do we get on the same page and stay there? Or are differences about money just something couples have to learn to live with? In this week's "Money" podcast, we're going to find answers to these questions, as well as many more. Our guest is best-selling author and award-winning speaker Tarra Jackson, also known as Madame Money. Want more information? Check out these resources: 10 Things You Should Know about Joining Finances in Marriage 8 Key Steps to Planning for Retirement as a Couple 6 Ways to Get Your Spouse to Save More Money Living Together but Not Married? 5 Important Things to Know Business Insider: 8 ways to talk to your partner about money, according to experts Money Under 30: How To Have 'The Talk': 6 Tips For Couples Discussing Finances Mint Life: How to Talk Money in a Relationship: Dos and Don'ts NBC News: The 3 money conversations you and your partner need to have Subscribe to the Money Talks News newsletter Take our The Only Retirement Guide You'll Ever Need course Take our Money Made Simple course Hosts: MoneyTalksNews MirandaMarquit.com Ask us a question Become a member: https://www.moneytalksnews.com/members/ See omnystudio.com/listener for privacy information.
42 min
BiggerPockets Money Podcast
BiggerPockets Money Podcast
BiggerPockets
175: Staying Flexible in Early Retirement with A Purple Life
Last time we talked to Purple from A Purple Life, she told us about her plan to retire at the end of 2020. If you haven’t listened to that interview, you can listen to it here to get the full scoop on Purple’s journey from a $5,000 net worth to hundreds of thousands within only a few years.  Like many financially savvy early retirees, Purple put a lot of time into planning, saving, and investing her capital in order to retire in her early 30s. Well, she did it! As of October 2020, Purple is financially independent and retired! So, how’s it going so far with financial independence in Purple’s world? Purple talks about her hobbies, interests, and most importantly, how the final month of her employment went with her former employer. She also gives some great insight on taking advantage of her employer’s health insurance for the last month of work, making sure that she was able to keep her quarterly bonus, and how she ended up breaking the news to her boss.  It’s all worked well for Purple, but she did have some big plans to cancel. Purple had lined up 4 months worth of travel that all had to be canceled when COVID-19 hit and shutdowns began. She would have been snorkeling in Australia and scootering in Thailand right now! Thankfully, Purple has been able to adapt and take advantage of this off time to assess her financial situation and what she wants out of early retirement.  In This Episode We Cover * The importance of planning for early retirement even if you love your job * Having a lean FI number and low monthly expense so you can live comfortably in retirement  * How long a cash cushion should last you when you decide to retire  * Taxable vs. Non-taxable retirement accounts (and which to leverage) * Ending your employment in a respectful and polite way  * Being flexible with your retirement plans  * And So Much More!
52 min
Retirement Answer Man
Retirement Answer Man
Roger Whitney, CFP®, CIMA®, RMA, CPWA®, AIF®
On Your Mark, Get Set, Go! What to Do in the 5 Years Before Retirement - Start Your Engines
Do you want to have the confidence to truly rock retirement? Are you within 5 years of retirement? If so, this is the series for you. Over the next 5 episodes, we’ll explore what you should be focused on in the years leading up to retirement. Today we’ll explore the opportunities and risks that come within this time frame. Next week, we’ll start setting the stage to prepare you for retirement. After that, we’ll explore the financial and non-financial aspects of preparing for retirement. In the 4th episode of this series, you’ll learn how to put it all into a plan. And lastly, you’ll hear an episode full of wisdom from people who are a bit ahead of you in this retirement journey. Are you ready to get started? Press play now! Preparing for retirement is much like prepping for an adventure In the 5 years leading up to retirement, you need to get ready. It’s as though you are preparing for an adventure. I liken it to a backpacking trip I took a few years back. First, my partner and I had to decide where we wanted to go. Then we had to arrange the logistics. Next, we had to assess whether we had the right equipment for our journey. Then we had to consider both our physical and mental readiness. After that, we had to acquire the things we needed. Once we finally got to our destination we had to assess the trail ahead. We even had to add extra supplies based on those trail conditions. We had to remain agile throughout the course of our journey. The opportunities and barriers to preparing for retirement At this point in your career, you are probably making more money than you ever have before. You have a reputation and a vast professional network. You may even be at the tail end of the various financial engagements that come with raising a family. Now is a good time to evaluate your life. There are some barriers that you may need to overcome as you prepare for retirement. I often refer to the 50s as your not-so-thrifty 50s. It’s easy to save more and spend less now that you are earning more. It’s also easy to create a financial cage for yourself. Be careful of financial obligations like 2nd mortgages, RV or boat payments, or even that adult child that you continue to subsidize. These obligations could force you to work longer than you would like. Listen in to hear about more barriers you might face as you prepare for life in retirement. What can you do now to set yourself up for retirement? There are several steps you can take to begin to set yourself up for retirement. * Start to assess your risks and opportunities by dialing in your income, expenses, and savings. Think about your expenses. What does it really cost to live your life? Separate your discretionary and non-discretionary spending to realize what it takes to live a good baseline life. * Create your net worth statement listing your assets and liabilities. * Assess your boundaries at work. You have worked hard to build your career, but have you built up boundaries between work and home life? * Assess your social life. Who would you call to have coffee with tomorrow? Do you need to broaden your social network? * Assess your purpose. If you had 2 weeks to not think or talk about work what would you do each day? It’s a great time to join the Rock Retirement Club! Are you signed up for the 6-Shot Saturday newsletter? You’ll want to make sure that you are so that you can get our free net worth and expense worksheets. Have you been on the fence about joining the Rock Retirement Club? Now is a great time to join because on March 16 we are starting a 3-week sprint to assess your needs, wants, and wishes. You can try it out for 30 days with a money-back guarantee. Go ahead and join now to see whether it is right for you. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN PRACTICAL PLANNING SEGMENT * [3:30] A Rock Retirement Club update * [4:04] The five years leading up to retirement is much like prepping for an adventure * [7:27] You have opportunities that you don’t want to miss in the 5 years * [11:37] What can you do now to set yourself up for retirement? Q&A SEGMENT * [21:51] Using a Roth IRA to fund long term care * [27:11] Roth IRAs and the 5-year rule * [30:04] Roth IRAs and Game Stop TODAY’S SMART SPRINT SEGMENT * [31:57] Start to dial in your expenses and update your net worth statement Resources Mentioned In This Episode Share your wisdom with future retirees! RogerWhitney.com/askroger Rock Retirement Club Roger’s YouTube Channel - Roger That BOOK - Rock Retirement by Roger Whitney Work with Roger Roger’s Retirement Learning Center
34 min
Be Wealthy & Smart
Be Wealthy & Smart
Linda P. Jones
7 Places to Live Abroad and Work Remotely
Learn 7 places to live abroad and work remotely. Through digital nomad programs, you have the opportunity to live in another country for a year. The article is here. Are you investing well for financial freedom...or not? Financial freedom is a combination of money, compounding and time (my McT Formula). How well you invest, makes a huge difference to your financial future and lifestyle. If you only knew where to invest for the long-term, what a difference it would make, because the difference between investing $100k and earning 2% or 10% on your money over 30 years, is the difference between it growing to $181,136 or $1,744,940, an increase of over $1.5 million dollars. Your compounding rate, and how well you invest, matters! INTERESTED IN THE BE WEALTHY & SMART VIP EXPERIENCE? -Asset allocation model with ticker symbols and % to invest -Monthly investing webinars with Linda -Private Facebook group with daily insights -Weekly stock market commentary email -Lifetime access -US and foreign investors, no minimum $ amount required Extending the holiday offer, enjoy a 50% savings on the VIP Experience. More information is here or have a complimentary consultation with Linda to answer your questions. For an appointment to talk, click here. PLEASE REVIEW THE SHOW ON ITUNES If you enjoyed this episode, please subscribe and leave a review. I love hearing from you! I so appreciate it! SUBSCRIBE TO BE WEALTHY & SMART Click Here to Subscribe Via iTunes Click Here to Subscribe Via Stitcher on an Android Device Click Here to Subscribe Via RSS Feed WEALTH HEIRESS TV Please subscribe to Wealth Heiress TV YouTube channel (it’s not just for women, it’s for men too!), here. PLEASE LEAVE A BOOK REVIEW Leave a book review on Amazon here. Get my book, “You’re Already a Wealth Heiress, Now Think and Act Like One: 6 Practical Steps to Make It a Reality Now!” Men love it too! After all, you are Wealth Heirs. :) Available for purchase on Amazon. International buyers (if you live outside of the US) get my book here. WANT MORE FROM LINDA? Check out her programs. Join her on Instagram. WEALTH LIBRARY OF PODCASTS Listen to the full wealth library of podcasts from the beginning. Use the search bar in the upper right corner of the page to search topics. TODAY'S SPONSOR I want to take a few seconds to tell you about how I “read” more books and stay ahead of the curve. It’s by not reading books, but instead listening to them – like you are right now! With Audible, there are over 150,000 titles to choose from for your iPhone, Android, Kindle or mp3 player and…your first audiobook is FREE! I suggest you get the audio book of Think and Grow Rich, or you can check out my website Resources page where I list all of my favorite financial books and you see exactly what books I have read and recommend you read. Then get started with Audible by visiting https://lindapjones.com/FreeBook and order your first audio book free! Get Think and Grow Rich or another book from my recommend list, and be sure to get started checking off the books you want to read with your free book from Audible! Be Wealthy & Smart,™ is a personal finance show with self-made millionaire Linda P. Jones, America’s Wealth Mentor.™ Learn simple steps that make a big difference to your financial freedom. (Some links are affiliate links. There is no additional cost to you.)
15 min
Sound Investing
Sound Investing
Paul Merriman
The Ultimate Buy and Hold Strategy: 2021 Update
Paul Merriman discusses the 2021 updated Ultimate Buy and Hold Strategy, designed to show why the 10 equity asset classes should be part of a diversified portfolio. This new study uses an expanded base of returns so that all 10 equity asset classes are reflected in the 1970 to 2020 period. While the expansion of returns makes the returns more dependable, the results are virtually the same as with the previously limited data base. Every year since 2012, The Merriman Financial Education Foundation updates this UB&H Strategy as among its most important work. The 2021 study makes reference to two tables that listeners will want to review. They are the Worldwide Equity Portfolio Tables 50% US/50% Int’l and the Worldwide Equity Portfolio Tables 70% US/30% Int’l. This podcast is part of the educational offerings from The Merriman Financial Education Foundation, a registered 501(c)3.  If you found value in this podcast, here are five ways to support the podcast and our foundation: 1)     Leave a podcast review on your player of choice. 2)    Sign up for our biweekly newsletter at PaulMerriman.com 3)    Use our M1 Finance affiliate link to set up a brokerage account and use our portfolio suggestions. If you fund your account with a minimum of $1,000, our foundation will receive a one-time fee at no cost to you, which helps support our financial education projects.. 4)    Buy our latest book, We’re Talking Millions! 12 Simple Ways To Supercharge Your Retirement available at Amazon and other online outlets. 5)  Consider making a tax-deductible donation to the Foundation to support our mission to provide financial education to investors.  Thank you!
46 min
The Power Of Zero Show
The Power Of Zero Show
David McKnight
"From Forever Taxed to Never Taxed": My Interview with Ed Slott (Part 2)
Some people have a concern about the implications of the tax arbitrage they could be receiving if they just waited. This is the key to the Roth plans and Life Insurance vehicles that Ed described. The big myth is that you will be in a lower tax bracket when you retire. If you let your IRA just continue to grow, at age 72 the plan will be out of your control, and you will be forced to take the money out at the prevailing rates, whatever they are at the time, for the rest of your life. For married couples, there is another problem they don’t think about, and that’s that one spouse usually dies first. This means the surviving spouse becomes a single taxpayer again. This means they will have the same assets and income but at much higher rates. If you don’t pay the taxes now, there will always be uncertainty. If you lock them in now, you will never have to worry about taxes again. Most retirees don’t suddenly begin spending like rock stars. If your single child inherits a million dollar IRA, they are going to be forced to realize it as income over the course of 10 years when they are probably at their highest earning potential, at a period of time when they can least afford to pay the taxes. If you don’t need some of your money in retirement, doing a Roth conversion on that money is like a gift to your children and grandchildren. You can give them a tax-free account which can be coupled with a tax-free life insurance plan to maximize the benefits. We are in a period of historically low tax rates, and in a rising tax rate environment, it only makes sense to pay the taxes now and get the money moved to tax-free. Yet 90% of all retirement dollars are in tax-deferred accounts. Most people believe that tax rates are on the rise, yet still have the majority of money in tax-deferred accounts. The secret to having more later is to pay the tax now. All the good things in life you pay for upfront, but it’s the bad things that you defer that end up costing you. If you take care of the problem early, you have less to worry about. Like spending money on dental care, waiting until the very end makes the problems more painful and more expensive. Covid has led to people running to their estate planners. It has put more attention to making sure people have a plan in place in case they die or get sick. When you combine that with the additional $3 trillion dollars in debt the US government has accumulated, we are going to have to face the day of reckoning much sooner than we thought. Just like stocks, with taxes we should buy low and sell high. Right now taxes are low, and they may never be this low again in our lifetime. A good analogy is like paying off the mortgage to your house. When you finally make that last payment and own your house free and clear, it’s a great feeling. You can get that same feeling by paying the taxes now and owning your investments tax-free forever. You can do everything right when it comes to your IRA. You can build and save and invest well, but if you don’t protect it, all your family will remember about you is that you blew it. The people with the most money want the best trained advisors. Ed has several opportunities for advisors to learn how to help people keep more of their money and other tax planning technologies. All people want larger inheritances, more control, and less tax. You control your rate and which advisor you work with. Only invest with an advisor that invests in their education. The problem with the tax rules in the tax code is that they are rigid and unforgiving. You need to get the right answer the first time. Mentioned in this Episode: The New Retirement Savings Time Bomb by Ed Slott can be pre-ordered on Amazon here: https://www.amazon.com/gp/product/B07TSZSSY5/ref=dbs_a_def_rwt_bibl_vppi_i0
23 min
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