47: Net Worth of 1.4M - Custodian with a 40K Salary
Play • 40 min

This episode features Jeff, a school custodian with a net worth of 1.4M. He has worked for the same school district for over 30 years and currently makes 40K a year. He has 1M in retirement accounts, and 180K in home equity. We discuss happiness and confidence levels as savings and net worth grew, sacrifices made along the way, and how he was able to reach millionaire status. Jeff shares his life and investing strategy, and unveils his current portfolio allocation.

The Stacking Benjamins Show
The Stacking Benjamins Show
StackingBenjamins.com / Westwood One Podcast Network
Murder and Fortune at the Plaza Hotel (with Julie Satow)
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!
1 hr 13 min
Money! with Stacy Johnson
Money! with Stacy Johnson
Estate Planning Tips & Tricks
It's amazing how many people wait till the last minute to do their holiday shopping. It's not like it's a surprise. It's as inevitable as the sunrise, yet they don't prepare in advance. Planning for your death is the same way. If there's one thing we all have in common, it's that one day, we're all going to die. Yet, according to a recent Merril Lynch survey, nearly half of Americans over 55 don't have a will. Eveyone should have essential estate planning documents. They're easy to find, cheap to produce and the whole process is faster and easier than Christmas shopping. That's what this week's "Money!" podcast is about: how to know what you need, how to find it and how much it costs. Even if you've already taken the necessary steps, listen to it anyway: It's a good refresher. Ready to get your house in order with the least possible hassle? This podcast is for you. As usual, my co-host will be financial journalist Miranda Marquit and our producer, sound effects guy and participant is Aaron Freeman. Want more information? Check out these links: 8 Documents That Are Essential to Planning Your Estate 17 States With Inheritance or Estate Taxes — or Both How to Create a Meaningful Legacy for Your Loved Ones Extreme Financial Makeover: 30 Moves in 30 Days What Happens to Your Email and Social Media After You Die? How Do I Choose an Executor for My Will? Should I Prepay My Funeral? Do I Really Need a Will? Is Fear of Death Hurting Your Retirement Nest Egg? Ask Stacy: Can I Put Together My Own Will? Have You Got The Power … of Attorney, That Is? 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.
39 min
The FI Show
The FI Show
Cody of Fly to FI and Justin aka Saving Sherpa
Geoarbitrage Case Studies | Diving into the Numbers with Cody & Justin
Today's episode rounds out our series on utilizing your location as a tool to financial independence and is led by just thew of us hosts. You may hear this idea called geo-arbitrage. We wanted to pick two locations where we would actually like to take a test run of financial independence in a foreign country. Cody picked Santiago, Chile and Justin picked Porto, Portugal. This episode covers an honest and holistic look at what it would cost for a couple to live in these countries while still really exploring and enjoying them. Take a listen and consider where you'd move if you had the freedom. Santiago, Chile Housing - $500 for a one BR apartment - Comes with parking, laundry, gym, BBQ and pool Utilities (Electricity, Heat, Cooling, Water, Garbage) $135 per month Cost of Flights to Other Locations - Flights around South America starting as low as $35. - $385 to get back to  Cody's home in New England Restaurant Samplings - Simple meal at inexpensive restaurant costs $5 Grocery Samplings - $30-35 per week. With mostly fish, vegetables, beans, eggs, “healthy” pasta, fruits, and smoothies Phone/Internet - $45 per month Public Transportation - Taxis will take you anywhere for less than $10 - Average of $150 per month (per expat survey) Healthcare - Ranked 33 out of 190 countries (similar to Australia and Denmark and many of the doctors speak english) - $100-120 for healthy adult expat insurance Visa Requirements (how long can I stay?) - 90 days (plus can pay $100 for another 90 day extension) Weather - Coldest months are June and July with average highs of 61 degrees Fahrenheit - Only downside is that it rains 4-5 days per week Total cost = $1650/month 500 housing 135 utilities 120 groceries 250 restaurants 45 phone/internet 100 transport 120 healthcare 400 entertainment $19,800 per year   Porto, Portugal Housing - $833 for a one BR apartment in heart of the city - Comes with parking, laundry, wifi, all utilities Utilities (Electricity, Heat, Cooling, Water, Garbage) Included Cost of Flights to Other Locations - Flights around Europe starting as low as $25. Paris: $25 Barcelona $49 Milan $53 - $670 to get back to  Justin's home in Austin Restaurant Samplings - Simple meal at inexpensive restaurant costs $6 - Anthony Bordain visited restaurant also serves $1.80 martinis Grocery Samplings - $40 per week. $2.60/lb chicken, $1.30/lb pork, $0.75 fresh bread, $0.90 apples, $2.50 bottle of wine as examples Phone/Internet - Wifi is free, 22gb data and unlimited call cell phone for $18 Public Transportation -Amazing train system for very cheap which I factor into "Travel" Healthcare - Emergency room visits are free - Research shows ~$40 per month for plans Visa Requirements (how long can I stay?) - 90 days with just the passport - Full citizenship appears attainable if you can prove you have healthcare as well as stable income source to fund your retirement Weather - Lowest highs are 57 degrees December/January - Highest highs are 77 degrees in July/August Total cost = $1770/month (for a couple) 833 housing 140 groceries 300 restaurants 18 phone/internet 80 healthcare 400 entertainment (includes transportation) $21,240 per year   Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community! Grab our FREE Budget Planner Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com If you like what you hear, please subscribe and leave a rating/review! >> You can do that by clicking here << Learn More About Your Hosts Fly to FI (Cody’s Blog) Saving-Sherpa (Justin’s blog)
34 min
Be Wealthy & Smart
Be Wealthy & Smart
Linda P. Jones
How Lottery Winners Should Invest
Learn how lottery winners should invest to keep their winnings and wealth. Most lottery winners lose all of their money within 5 years. In this podcast, we use the example of a real lottery winner who just won $731 million and talk about how to preserve their winnings and wealth. The article is here. TODAY'S SPONSOR On Be Wealthy & Smart, I've reported several computer DDOS attacks and other hacking schemes. These days you need to add an extra level of security to your computer. That's why I added the Trend Micro home network security device to my modem, so it connects to all of the devices in my home. Whether I'm talking on the phone or on my computer, I can see the virtual private network, or VPN, is on, shielding anyone from hacking my computer or seeing I'm online It protects all devices connected to the WiFi in my house. I don't have to worry about bank accounts, brokerage accounts, crypto accounts being seen by a hacker. I love the extra security and that there is one less thing to worry about with my finances. I recommend everyone sign up for this, it is well worth it for peace of mind and protection. Go to www.trendmicro.com or click this link and use the discount code LINDA20 to save $20 off your home network security decide purchase. That's www.trendmicro.com and code LINDA20. You can also check out the free Home Network Security device app in the App Store today. 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 APPLE PODCASTS 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. 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.)
24 min
The Power Of Zero Show
The Power Of Zero Show
David McKnight
My Interview with Former US Comptroller General David Walker (Part 2)
Things may seem bleak when you look at the numbers, but there are solutions that we can implement that could help our situation and ultimately prevent the worst outcomes when it comes to the national debt. David Walker’s book was divided into three parts: a wake up call, a call to action, and a way forward. He has a number of solutions that he’s proposed that meet six principles. Any solution would have to be: pro-growth, socially equitable, culturally acceptable, have mathematical integrity, be politically feasible, and have meaningful bipartisan support. We have to agree that the real metric to measure is debt-to-GDP and we need to get it to a sustainable level within a reasonable period of time. We also have to recognize that this can’t be done one reform at a time and needs to be addressed as a package. Medicare seems like the hardest nut to crack because it is tied to demographics and health care costs grow faster than inflation, which prevents the US government from printing their way out of the problem. Most Americans agree regarding gradually increasing the age of retirement over several years which was done in the 1980s Social Security reform package. Increasing the the taxable wage base cap and adjusting the benefits paid out (e.g., higher replacement rate for lower income and somewhat lower for higher income individuals) are reasonable solutions for Social Security. When it comes to healthcare there are a number of more complex issues to deal with. The first is that the US government has overpromised on healthcare. Government needs to determine a reasonable, affordable and sustainable level of healthcare that should be available to everyone and government needs to have a budget. Government will do more for the poor, disabled and veterans. The US is the only country on the Earth that doesn’t have a budget for healthcare, which is one of the reasons that there are so many healthcare horror stories in the US. If interest rates simply return to 2003 levels, the cost of servicing our current debt quintuples. Interest rates are not going to stay low, they are going to go up. The only question is how much and how fast. David Walker believes that we will not default on the debt because federal debt is guaranteed by the U.S. Constitution. The responsibilities of the federal government envisioned by the founders took up 97% of the budget in 1912. This has fallen to 29% of the budget, and was declining as of 2019. The higher the debt-to-GDP goes, the higher that taxes are likely to be, and the lower the level of economic growth we are likely to achieve. The longer we wait to solve the problem, the higher that taxes are likely to go as well. The biggest deficit the United States has is a leadership deficit. We have too many people living for today and not enough people focused on how to create a better tomorrow. The two party system is part of the problem. 43% of voters are unaffiliated, and are largely unrepresented. It ultimately falls onto the President to make this issue a top priority. We need a mechanism that engages the American people in unprecedented ways and sets the table for tough fiscal choices in Congress (e.g., a Fiscal Sustainability Commission), and the sooner we do it the better off we’ll be. President Biden needs to deal with this problem because we only have one President at a time and one bully pulpit where the message can really make an impact. We need a number of political reforms because today we have a Republic that’s not representative of, or responsive to, the general public. David recommends redistricting reform, integrated open primaries, ranked choice balloting, campaign finance reform, and 12-year term limits. Career politicians are not what the US needs. It’s not what the founding fathers intended and it’s one of the many things that we need to change to revitalize our republic. On a personal level, we need to focus on our families and our clients. We can’t control what happens in Washington but we have to take steps to hold our elected officials accountable as much as we can.
23 min
Bogleheads On Investing Podcast
Bogleheads On Investing Podcast
Episode 029: Frazer Rice, host Rick Ferri
Frazer Rice is the author of “Wealth, Actually: Intelligent Decision-Making for the 1%”, host of the “Wealth, Actually” podcast, creator of the "Wealth, Actually" blog, and a Northeast Regional Director for Pendleton Square Trust Company. Frazer is an attorney and experienced trust officer. His wealth management career has included serving for over 15 years as a Managing Director at Wilmington Trust Company. We cover a lot of ground in this episode including estate planning, reasons for using trusts, selecting trustees, family dynamics, investing for 1%'ers, and much more! This podcast is hosted by Rick Ferri, CFA, a long-time Boglehead and investment adviser. The Bogleheads are a group of like-minded individual investors who follow the general investment and business beliefs of John C. Bogle, founder and former CEO of the Vanguard Group. It is a conflict-free community where individual investors reach out and provide education, assistance, and relevant information to other investors of all experience levels at no cost. The organization supports a free website at Bogleheads.org, and the wiki site is Bogleheads® wiki. Since 2000, the Bogleheads' have held national conferences in major cities around the country. There are also many Local Chapters in the US and even a few Foreign Chapters that meet regularly. New Chapters are being added on a regular basis. All Bogleheads activities are coordinated by volunteers who contribute their time and talent. This podcast is supported by the John C. Bogle Center for Financial Literacy, a non-profit organization approved by the IRS as a 501(c)(3) public charity on February 6, 2012. Your tax-deductible donation to the Bogle Center is appreciated.
1 hr
BiggerPockets Money Podcast
BiggerPockets Money Podcast
165: How 'Finance Ninja" Daniel J. Mills Started at $30k a Year and Grew a US Rental Empire from Japan
While living abroad, it can be very difficult to invest in assets in your home country, especially if you’re an American. Daniel J. Mills found this out early in his professional career. As a English teacher living in Japan, he had to jump through a sizable amount of hoops to find a way to invest in American stocks, index funds, and later real estate all while overseas.  Growing up in southern California, Daniel knew that there was money to be made through entrepreneurialism. He saw his father grow a business that was profiting millions each year, only to see it later become liquidated. Daniel didn’t really think too much about money or growing his personal wealth until years later. After college, Daniel moved to Japan and became an English teacher making a salary of around $30,000 (USD) a year. He met his wife, settled down, and bought an apartment in an appreciating part of the city (contrary to many other parts of Japan). Daniel was saving around $1,000 a month, and realized he didn’t want to be making $30,000 a year forever. So, he started investing in index funds and stocks, which grew his net worth and allowed him to invest in other asset classes, like real estate. Daniel even shares a tax loophole that allowed him to write off 100% of his 6-figure income while he was in Japan (solely from real estate depreciation)!  Flash forward to today, Daniel has rental properties in Idaho, Alabama, and Tennessee with partners from Japan and the United States. Daniel agrees with many other real estate professionals in the fact that you need a tried and true team in cities where you’re investing. Living in Japan, he doesn't have much to worry about in the US, thanks to his fantastic property managers, handymen, partners, lenders, and real estate agents. In This Episode We Cover * The challenges and benefits of investing in American assets while abroad * Getting rid of debt fast so you’re able to scale your investments  * How money is easier to make as you become more educated and experienced  * The ins-and-outs of Japanese real estate compared to American real estate  * Converting bonus rooms to bedrooms for higher rent  * Forming partnerships with real estate professionals who can help you * And So Much More! Check the full show notes here: https://www.biggerpockets.com/moneyshow165
1 hr 20 min
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