That’s what the financial journey is all about. We’re not always hitting big wins all the time. There are a lot of mistakes, but those mistakes can sometimes be the biggest lessons and help us learn a lot.
And then there are mistakes that just really suck and you don’t learn anything from them!
Here are 5 major money mistakes I’ve made in my life. Hopefully, by sharing these money mistakes, it’ll help you avoid them in the future.
The FIRE movement (Financial Independence, Retire Early), has become a wildly popular concept over the last decade, but it’s also become wildly controversial.
Today, Andy talks with Lisa Harrison, the writer and podcast host behind Mad Money Monster. She’s had her story featured on major media outlets like Yahoo Finance, MarketWatch, and Forbes. She started off in love with the FIRE movement and idea of early retirement but then had a change of heart.
We’ll be diving into how she discovered FIRE, what changes she made to her lifestyle and what caused her to abandon the idea of early retirement altogether.
For our Fintech Spotlight segment this month, we are featuring our sponsor, Facet Wealth. They make working with a Certified Financial Planner professional simple and convenient.
I’ve invited a founding member and the Chief Evangelist of Facet Wealth, Brent Weiss to tell us more about this virtual financial advising company and how it’s helping clients of all wealth levels achieve their goals. We’re also going to discuss the importance of working with a fiduciary and defining what financial planning looks like.
On our Mortgage Freedom Series today, we’re going to interview a couple that paid off their mortgage in less than 3 years and is now one step closer to financial independence because of it. Julien and Kiersten Saunders are my guests today and they are the creators of Rich and Regular, a hot new personal finance media brand that is growing in popularity because of its honest, informative and relevant approach to money.
Julien and Kiersten’s story and advice have been featured in big publications like the New York Times, MarketWatch and Forbes. And when they’re not talking about money, they’re traveling the world and raising their son in Atlanta.
As our parents get older, their money problems can sometimes become our problems if we don’t plan ahead. And if we’re raising our children at the same time, there’s a reason they’re calling us the “sandwich generation”.
Today on the show, I have invited Cameron Huddleston to talk to us about how we can have that money talk with our parents and why we need to do it right away.
Our question of the month comes in from Anonymous from Cleveland:
I just finished reading an article of yours about paying off your mortgage early. Congratulations on that. I have a 30-year mortgage and I’m not sure if I want to pay it off, but it got me thinking about where I should be with my financial goals.
I’m 35, married, two kids. I want to make sure I’m on track.
What financial goals should I have checked off my list by the time I turn 40?
My wife and I are expecting our first child this year, so it will be a true test on how we work around the new costs we will be accruing. I am on pace to pay off a student loan in 3 years and I don’t want to break that. We max out our 401k and we pay extra on our mortgage and my student loan each month.
I don’t want to lose this momentum we have — we both promised ourselves we would never decrease our 401k contributions because we value investing in our future too much. I guess I’m divulging all of this to ask …
What do you advise so I don’t lose momentum when the baby comes?
When you truly become intentional about your actions, there’s little you can’t accomplish.
The next member of the Young Millionaire’s Club is walking, talking proof that good things come to the intentional.
Juan from A Journey to FI joins me today to discuss how taking some short-term sacrifices in his life lead to some long-term financial wins for his family. At a $1.3 million net worth in his late 30’s, Juan is charging toward financial independence and not stopping to look back.
We all have individual passions in our lives. Sometimes our interests don’t always gel with our spouse’s interests.
You might be really into brewing beer as a hobby, but your wife … not so much. She prefers photography. It’s all good though. Both of you respect each other, you do your own thing and you’re happy.
When it comes to our finances in marriage, that can be a whole different story. This is an area where teamwork, collaboration and partnership is required to be truly successful. Going off and “doing your own thing” when your money, future and retirement are at stake can be a recipe for disaster.