Afford Anything
Afford Anything
Nov 26, 2020
PSA Thursday: How to Slash Your Food Budget, with Rosemary Fotheringham
Play • 31 min

According to the Bureau of Labor Statistics, in 2019, Americans spent just over $8,000 on food.

If you're on a tight budget, slashing your grocery bill is one of the easiest ways to spend less. But what if you don't want to compromise on healthy eating?

Today's guest, Rosemary Fotheringham, is a Functional Nutritional Therapy Practitioner (FNTP) who's also on the path to financial independence. She and her husband slashed their monthly grocery bill from $1,200 down to $300 - without eating pasta every night. She's here to explain their framework for healthy eating and her best tips for eating well on a tight budget.

For more information, visit the show notes at https://affordanything.com/psathursday

ChooseFI
ChooseFI
The Unstuck Network
290 | We're Talking Millions | Paul Merriman
* Does your portfolio own enough of the companies that carry a lot of the growth over extended periods of time? When you buy index funds, you aren't as diversified as you think you are. * Cap weighted index funds mean you are buying a lot of the companies that are doing really well. But there are two asset classes Paul Merriman is a fan of that he thinks don't get enough attention, small cap and value. * Although many people claim to believe in a buy and hold strategy with investing, their behavior says otherwise. They like to buy when things are hot because they believe it's going to keep going up. * If you look back as far as 1928, a lot of the time the S&P 500 is walloping small cap value returns, yet at the end of this 92 year period, small cap value made 24 times the amount of money the S&P 500 did. * Even though there are long periods of underperformance, when small cap value does take off, there is outstanding performance. Then when it reverts back to the mean, there is a higher compound rate of return. * Owning a large cap fund means each holding in that portfolio, and how much of the portfolio it represents is based on how large that company is. The big companies represent 80-85% of the corporate public value in our economy. * However, history shows that the smaller companies and the value companies produce a better rate of return because they are more risky. * It doesn't have to be a lot to make a big difference. If you were put 10% in a small cap value fund, it would give you a legitimate shot at having 20-30% more money when you retire. * The top 20 companies probably make up 20-30% of the money you have invested. Investing in an S&P 500 or total stock market fund provides an illusion of diversity. As companies get to be bigger in size, it becomes increasingly more difficult to double or triple in size. * Companies are valued by the number of shares times the price in the market. * Large cap index fund companies average a market capitalization value from $50 billion to $150 billion. * Small cap companies are roughly 1/50th the size of the big companies with values averaging $2 billion. They are legitimate companies, but many of them will fail. * Since 1928, the S&P 500 or total stock market compound rate of return has averaged 10%. However, research has shown that only 4% of those public companies made virtually all of that 10%, while 96% of companies averaged just 3%. * As an aggregate, small companies are much more likely to double or triple in size. * Value companies can be seen as companies that are out of favor and years later, they may still be out of favor. Academics don't advise buying value companies one at a time. * People come into value companies to make them more meaningful, profitable, and efficient turning those companies around. * The problem with great companies with a great future is that when something happens to pop the ballon, those companies can fall 25% in a day, similar to what happened with the Dot-com bubble in 2000. * Telsa, for instance, is a car company on the verge of bankruptcy several years ago and now it's up 400% even though it is barely turning a profit. With a current share price of $800, it's going to take a lot to double your money, yet people still believe in Tesla. * Paul wants to help people figure out how to invest in an unemotional way and don't get caught up believing in something that isn't likely to happen. * Last year, growth companies were up 35-40%, however, looking back at 90 years of evidence, growth produced a lower rate of return than value by 2% a year. * Paul's latest book, We're Talking Millions!, is all about the extra half of 1%. For every half of 1% you can make on your portfolio over a lifetime, you add a million dollars. Finding more of those half of 1% and adding them up is a lot sexier than finding the hottest thing in the market. * In his book, Paul lays out 12 simple ways to capture those half 1% that the market is ignoring. * Paul's been hearing complaints for years that his work has been too complex. It's was something his firm did for his clients, but most individuals do not want to make it that complex. * Someone in their twenties, investing just $5,000 a year for 40 years, can use these strategies to make millions over an investing lifetime. * It's not all because you took more risk, it's also how you protect your money from others getting their hands on it, like money managers. * Choosing to save can be a million decision, and choosing to save early can be another million. * In one mind-blowing statistic, Paul says 25% of millennials will not put money in the stock market. * The ultimate buy and hold portfolio might be difficult to replicate inside a 401K. To make things more simplified, Chris Pedersen developed a system to implement the philosophy with roughly 98% of the benefits. * The goal is to keep it as simple as possible so that anyone can do it and won't need to manage it other than for a few minutes a year. * One way to buy a target date fund. But because they don't have enough value or small cap companies represented, have 90% of contributions go to the target date fund and 10% to a small cap value fund. The target date fund is broadly diversified and automatically adjusts to become more conservative as you age. * Chris said the problem is young people should have more invested in small cap value and came up with a formula for calculating just how much, which is 1.5 times your age into a target fund and the remainder in small cap value. * For example, a 30-year-old should multiply 30 years x 1.5 to get 45% in a target date fund and 55% in small cap value. * Paul and Chris encourage continuing to hold 10% in small cap value at the age of 60 and beyond which is good during the 30 or more years in retirement. * Not all target date funds are created equal. Look for one that is low cost and contains total stock market funds. * Jonathan doesn't like having bonds in his portfolio and notes that target date funds have bonds in them. Paul agrees and said he spoke with John Bogle about it once. He was told that bonds are defensive and do good when the rest of the portfolio is down 50%. * You can reduce your exposure to bonds in target date funds by adding equities to your portfolio. * With target date funds, the year indicates how aggressive it is. * As with a traditional portfolio, rebalancing your portfolio is a part of the small cap value strategy. If you want to be true to your strategy, you need to sell some winners and buy some of the losers. * Jonathan has modeled one of the Ultimate Buy and Hold Portfolio pies Paul has on his website in his taxable brokerage account with M1. * Paul says it's never been easier or efficient to invest. Even if the market does return as much as in the past, you can probably make the same return because it used to cost so much to do before. * They are coming out with all new recommendations for best-in-class ETFs. Paul has all his buy and hold funds in DFA dimensional funds and now anyone will be able to buy DFA funds through DFA or Avantis without paying a commission. Since it's an ETF, you can buy commission-free with M1. * Pauls' book is free for teachers and students, just email Paul at Paul@paulmerriman.com to get the PDF by email. The book is also available on Amazon. If you can't afford the $14.95 price tag, email Paul for the PDF. Resources Mentioned In Today's Conversation * ChooseFI Episode 130 Paul Merriman Introduces the Ultimate Buy and Hold Portfolio * We're Talking Millions!: 12 Simple Ways to Supercharge Your Retirement by Paul Merriman * M1 Finance Review – Completely Free Automated Investing! If You Want To Support ChooseFI: * Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy.  * Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence.
1 hr 2 min
Millennial Money
Millennial Money
Shannah Compton Game
The ABCs of How to Build Your Credit Score & Why It Matters (reboot) | Marsha Barnes
Your credit score has power and that three-digit number has a dramatic impact on your financial future. If you do nothing else this year, grab your credit score the tail and yank it up to 700+ (preferably over 740). You don’t have to go all crazy trying for an 850 score – but don’t get lazy. Even if you have a good score, it could drop tomorrow by one silly mishap. Marsha Barnes from The Finance Bar will share her best tips to get your score in check for the new year in this reboot episode. What You'll Learn * Why your credit score is a powerful piece of your financial future * How to create a better financial brand for yourself * Which credit scoring models do you need to care about * What action steps you should take this year to raise your score * How your score impacts your job and where you live * Why Marsha is so passionate about financial literacy LInks * FICO * The Finance Bar * Credit Karma * Credit Sesame Episode Sponsors Make it the year you finally cross life insurance off your list, and get protection for your loved ones. Go to Policygenius.com and get started. You could save 50% or more by comparing quotes and start the new year with one less thing to worry about. Literati Kids is a subscription book club for kids ages 0 - 12 that sends 5 beautiful children’s books to your door each hand-picked by experts. Go to http://www.literati.com/mymoney for TWENTY-FIVE PERCENT OFF your FIRST TWO ORDERS and pick your kid's book club gift today. SUBSCRIBE & SHARE Want to be the first to know when new episodes are released? Click here to subscribe in iTunes! IT’S FREE! 👉 Sign up for my weekly LET’S TALK MONEY email newsletter. ASK SHANNAH Have an Ask Shannah question, submit it here GET SOCIAL ·     Shannah on Twitter ·     Shannah on Instagram
43 min
BiggerPockets Money Podcast
BiggerPockets Money Podcast
BiggerPockets
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!
1 hr 20 min
Be Wealthy & Smart
Be Wealthy & Smart
Linda P. Jones
High-Yield Dividend ETFs
Learn which high-yield dividend ETFs are performing the best. The chart 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.)
12 min
Student Loan Planner
Student Loan Planner
Travis Hornsby
Feeling Frustrated About Your Student Debt? Here’s the High Cost of Student Loan Complexity
It’s no secret that student loan debt affects people’s lives — and not in a good way. The ever-increasing student loan debt is a major cause of frustration and stress for many college graduates in America. Why is that? Who benefits from student loan complexity? Join me as I discuss why you need to know the complexity behind student loans and who are the biggest beneficiaries. In today’s episode, you'll find out: * Why you need to know the complexity behind student loans * How student loan complexity can benefit borrowers * Why student loans are as complex as they are * When the student loan interest rate is irrelevant * How borrowers overestimate the accumulated interest * Why student loan interest isn’t the real problem - and what is * How knowing the rules can give you control over your student debt * The myth that says you can’t control your own future * How your student loan balance grows with capitalized interest * How forbearance can double your student loan balance every 10 years * The one-step plan to making sure your debt doesn’t stress you out anymore * Why student loan debt cancellation will never happen * How dental service organizations profit off the high cost of education * The way banks profit off the system by offering private student loans * The role of loan servicers in student loan complexity * Why student loans don’t have to be scary or frustrating and what to do about it Full show notes at: http://studentloanplanner.com/112 Like the show? There are several ways you can help! * Subscribe on Apple Podcasts, Spotify or Google Podcasts * Leave an honest review on Apple Podcasts * Follow on Facebook, Twitter, or LinkedIn Feeling helpless when it comes to your student loans? * Try our free student loan calculator * Check out our refinancing bonuses we negotiated * Book your custom student loan plan
40 min
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