Why Lazy Investors Become Wealthy – with Mansi Singhal from qplum

For our Fintech Spotlight segment this month, we are featuring qplum, a company that is bringing AI, data-driven strategies, and affordability to the world of investing. I’ve invited the co-founder and CEO of qplum, Mansi Singhal, to tell us more about the company today.

We’re also going to discuss why monitoring our investment portfolio might actually be a really bad idea.

Andy Hill: The markets have been up and down a lot lately, and I’ve been checking my portfolio a lot more frequently. Why is that not a good idea?

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Should I Stop Investing For Retirement When Paying Off Debt?

Our second question of the month comes in from a new listener named Erik!

Hey Andy,

Erik here. I’m a new listener on the Marriage, Kids and Money Podcast. I appreciate all you’re doing to help families achieve financial independence.

When you originally started out with Dave Ramsey doing the Total Money Makeover, did you stop continuing saving for retirement during Baby Step 2?

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How to Increase Your Net Worth by $800,000 in 8 Years

One fall night in 2010, my wife Nicole and I were watching the Suze Orman Show. (Yes, I used to DVR it). There was this fun segment where someone would call in and Suze would analyze that person’s financial health and give them a grade. It was called How Am I Doing?

One term that we kept seeing over and over again on this segment was “Net Worth”. Since we were personal finance newbies, we had no idea what this meant. Nicole and I were making a combined six-figure income together so we figured our net worth must be HUGE.

After the show was over, we decided to see how rich we really were. There was no doubt in our mind that we’d be better off than most of the jokers that call in to the show and get an “F” grade from Suze!

via GIPHY

We walked upstairs and started to write down all of our numbers on a big white board. By separating our “assets” (what we owned) and our liabilities (what we owed) into two big columns, we started to discover that we weren’t rich.

We were kinda broke.

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How to Become a Millionaire in your 30’s – Interview 19 (Adam)

A major step in becoming a young millionaire is tracking your net worth. On the other hand, wealth building is not all about the numbers.

Our guest today, Adam from Minafi, sees wealth building as a way to travel, explore the world and create lifelong memories with his wife. By securing solid financial footing in his 30’s, Adam has been able to realize those dreams early in his life.

Let’s hear how Adam took advantage of the opportunities in his life and honored his family by pursuing a life of simplicity and stress-freedom. Continue reading “How to Become a Millionaire in your 30’s – Interview 19 (Adam)”

I’ve maxed out my 401k. Where else can I invest?

Our second question of the month comes from Angela from California:

Hi Andy,

I’m enjoying your podcast and wanted to ask you a question as I’m starting to get into more aggressively saving for my retirement.

I’m 32 years old. I recently modified my contributions to my workplace 401k so I’ll be maxing it out at $18,500 this year. I recently paid off my last student loan and had extra money. My husband is matching his 401k too after a little convincing. So we’re really getting serious about our retirement savings now. Both our companies match so that’s another perk.

I do feel like I’m behind overall though. Where else should we consider investing outside of our 401k?

Any feedback you have would be great.

Angela

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How to Become a Millionaire in your 30’s – Interview 17 (Trip Seibold)

When you’re free to openly plan your day and your future, a whole new world starts to open up to you. What once wasn’t clear … is now clear.

That’s how the young millionaire Trip Seibold from Financially Possible described it to me in today’s interview. As a financially independent 30-something millionaire, Trip has the ability to spend quality time with his family and pursue his dreams.

Let’s learn more about his path, his new motivations and how his family is at the center of all of it.

Enjoy!

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How to Become a Millionaire in your 30’s – Interview 12 (Blake)

Have you ever heard the saying, “If you can’t measure it, you can’t improve it”?

It rings true for a lot of us … especially those of us who are looking to improve our financial situation.

Our next Young Millionaire, Blake from The Dividend Pig, decided to track his net worth for the first time just three years ago. That tracking (and his hard work to improve his situation) helped him to increase his net worth by $300,000 in just 3 short years.

Check out Blake’s incredible story of 30-something success!

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Ethical Investing – When Doing Well and Doing Good Meet

Every time we contribute to stock mutual funds in our 401k or IRA, we’re investing in a little slice of the companies that are included that fund. These can be tech companies like Apple or Microsoft or automotive juggernauts like General Motors or Ford. With each retirement contribution you make, you’re essentially becoming a minority shareholder in these businesses.

But what if you don’t agree with the way things are being handled at one of these companies?

  • Perhaps you care about a cleaner and greener future and one of the companies you’re investing in is a huge polluter.
  • Or maybe you’re appalled by the way factory employees are being treated globally at one of your businesses.
  • Possibly there is evidence of racial or gender discrimination happening within the four walls of a company you own a piece of.
  • How can we invest for our family’s future and get the returns required to retire comfortably while  still following our hearts?

Welcome to the world of Ethical Investing!

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Don’t Time the Market – with Rocky Lalvani

It is so important to evolve and to keep up with the ever-changing world. Because when we’re complacent and stuck in our ways, opportunities, excitement and potential wealth can pass us by.

I’ve invited someone on the show today who lives by this credo and his name is Rocky Lalvani.

Rocky is a life and money coach who has built a multi-million dollar fortune, not from his coaching biz, but from living a life focused on flexibility, frugality, and family.

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