Financial Freedom Podcast

The student loan crisis has made parents and students more cautious when it comes to taking out student loans. But even then, the average student debt is $30,000, which is a lot to owe fresh out of college with no job.

But what if you could graduate debt free and into a job you love? To answer that question I talked with academic strategist Jeannie Burlowski on how it can be done!

In this episode you will learn:

- Strategies for when you're not in a position to save money
- How to leverage more need-based aid from schools
- How private schools can be a better deal than state ones
- Talking to teens about career goals before they apply

Achieving financial freedom means getting your personal finances in order, so that you are living within your means and have money at the end of the month. But to have true financial freedom long term, with long term goals like retirement, you have to have a financial plan.

That's why in this episode of the podcast I talk with fellow personal finance podcaster Curtis May on attaining what he calls Practical Wealth.

In this episode you will learn about:

- Practical Wealth
- Cash Flow Mapping
- Accumulation Theory
- Velocity of Money Strategy
- Privatized Banking

Stocks are a key part of any retirement savings portfolio. Their potential to grow over the course of your working life with a rate of return, despite ups and downs, that can't be beat by CDs or a savings account.

But bonds are also important to a well balanced portfolio. To find out the particulars in this episode of the podcast, I bring back Certified Financial Planner Michael Karwic for a talk on bonds and how they can be key to a successful retirement. 

In this episode you will learn:

- What Kinds of Bonds There Are
- How Bonds Balance Risk Tolerance
- About the Tax Advantages of Certain Bonds
- How Interest Rates Can Vary on Bonds

As I've said in previous episodes, the earlier you start saving and investing for retirement, the better. As soon as you graduate with your degree and get a job, you should start on your path to long term financial freedom.

But how do you get started? How do you put together a plan for retirement investment that will work long term? That's why in this episode of the podcast I talked with retirement expert Anne Lester to get answers to this question.

In this episode you will learn about:

• What your "money type" is
• Creating a retirement plan in your 20s & 30s
• How to find money to invest
• Retirement planning for the self-employed

Financial freedom is a journey, not a destination. Even if you are in good shape now, it takes good habits and discipline to maintain it on into the future. Laws and financial circumstances can change, and you need to be adaptable.

That's why in this episode of the podcast I wanted to report on some tips, tricks, and changes in the law that might help you have a financially free 2024. 

In this episode you will learn:

- Good options for short term savings
- About college fund to Roth IRA Rollovers
- How a "Dry January" can save you money
- About the 12 month student loan "on-ramp"
- Job Search Tips for 2024
- How to decide when to claim Social Security benefits

Achieving financial freedom is not always easy. Some people have the skills to do it on their own, while others need some expert help and guidance. That's never a bad thing.

Having that guidance means hiring a financial advisor. But how do you pick one? How do you know if you have the right one for your needs? Getting you answers to those questions is why in this episode of the podcast I talk about the steps you need to take in choosing the right financial advisor for you.

In this episode you will learn about:

- The Steps to Choosing an Advisor
- The Types of Advisors
- The Kinds of Services They Provide
- Common Mistakes People Make in Choosing an Advisor

The cost of a college education is getting higher and higher. Students are graduating with crushing debt and are either unable to find a job or can't get one that will earn them enough money to pay the loans. Parents often get into debt by cosigning loans, or sacrifice their retirement.

That's why in this episode of the podcast I wanted to talk to someone who could provide advice and strategies on approaching the cost of higher education and making sure that parents and students have a plan in place way before they decide on a school.

In this episode you will learn:

- Where (and when) to begin the planning process
- How to find out the true cost of a school before picking it
- How parents can help their children without sacrificing their retirement
- Can private schools be as affordable as public ones?
- Is there a different strategy for graduate school?

As the holiday season approaches, we're all thinking about the celebrations, gift giving, and general joy that we experience during this time. But as the year comes to a close, we should also be thinking about our finances and the tax bill that may come in the new year.

Thant's why in this episode of the podcast, although it isn't as exciting and uplifting as the holidays, I wanted to talk about some tax planning you can do now that may reduce that tax bill next April.

In this episode you will learn:

- How to maximize retirement contributions for tax benefits.
- About contributing to HSAs and FSAs for healthcare tax deductions.
- Why you should regularly review and update your tax withholdings.
- Why you should explore family and education tax credits.
- About reviewing your investment portfolio for tax-efficient strategies.

No matter the size of a family business, the owner is an entrepreneur. This is an important realization, as having an entrepreneurial mindset is key to the success and growth of any business.

That's why in this episode of the podcast I talk to Danielle Hayden of Kickstart Accounting about the entrepreneurial mindset, how to create a financial vision for your small business, and how to make sure that business weathers bad times.

In this episode you will learn:

- How to transform your money mindset
- About creating a financial vision for your business
- About achieving financial fluency so you can interpret your financial data
- How to recession-proof your business

As people get older and closer to retirement, they start to worry about whether they are ready and whether they can afford to retire. Do they have enough money set aside? How much is enough?

That's why in this episode of the podcast I wanted to talk about how many people think they're behind, how much they think they need to retire, how to tell whether you really ARE behind, and how to catch up if you are.

In this episode you will learn:

- How many people think they're behind
- How much people think they need to retire
- How to find out if you are behind
- Jow to get caught up if you are

If someone is having emotional, mental, or social problems, you might send them to therapy. But what if they are having financial problems? Is there any such thing as financial therapy?

Well according to Wendy Wright, a therapist and money coach, there is! That's why in this episode of the podcast I wanted to talk to her about what financial therapy is and how it can help people change their thinking about money, communicate it better with their spouse, and get out of debt.

In this episode you will learn:

- What financial therapy is
- How it can improve your relationship with money
- How to talk to you loved ones/partner about money
- How financial therapy can help you stop the debt cycle
- How to deal with sudden wealth

When it comes to retirement savings and investing, or any long term investing goal, there are many options for where to put your money. There are mutual funds, individual stocks, bonds, and the like. One option is something called Exchange-Traded Funds.

These funds with the rather mysterious name can be a good option for investors. That's why in this episode of the podcast I wanted to talk about these funds, what they are, and whether you should consider them for your investment portfolio.

In this episode you will learn about:

- What ETFs Are
- The different kinds of ETFs
- How to buy them
- Tax Implications
- Factors to consider in choosing ETFs

According to the authors of the book The Millionaire Next Door, self-employed people make up less than 20 percent of the workers in America but account for two-thirds of the millionaires. So for those who want financial freedom on the millionaire level, being their own boss is something that should at least be looked into.

But starting a business isn't easy, and most of them fail within the first 3 years. This has some people thinking about owning a franchise instead. That's why in this episode of the podcast I talk to Giuseppe Grammatico about the franchise model, and whether it's right for you.

In this episode you will learn about:

- The freedoms that come with business ownership
- The secrets to starting (and scaling up) a lucrative side hustle
- Why you should consider the franchise model for your business
- The risks of owning a franchise

Treasury bonds can be a key part of your long term investment strategy. There's been a lot of talk about Series I bonds, which were created to protect you against inflation (something we've all been struggling with over the past couple of years). But are they still a smart choice in today's economy?

In this episode of the podcast I wanted to talk about this classification of treasury bond, how it can help you in your portfolio, and whether now is a good time to buy them.

In this episode you will learn:

- What Series I Bonds Are
- Whether They're a Good Investment
- How to Buy I Bonds
- Whether You Should Buy I Bonds
- What the Risk Factors Are

Although student loans continue to be a hot topic in personal finance news, there are many interesting articles and tips out there that can help you on your path to financial freedom.  These include a new repayment plan for student loans, a better place to put your savings, tips on saving on wedding costs, and tips on making your children financially independent.

Thant's why in this episode of the podcast I wanted to talk about these various news items, many of which are cause for optimism in the latter half of this year. I hope they can help you build your emergency fund, pay down your student loans, and make your child financially independent.

In this episode you will learn:

- Whether to Move Your Savings to a Money Market Account
- Tips on Cutting Wedding Costs
- How paying with cash helps you to forget "guilty pleasures"
- Information on President Biden's new student loan plans
- How to help yor child become financially independent

Your personal finances are never "set it and forget it." Even if you have set up a budget, have autopay on your bills, and a good retirement savings strategy, you still need to check in periodically to be sure that your financial ship is sailing in the right direction.

That's why in this episode of the podcast I wanted to talk about how to do a mid-year checkup. You need to do this now (better yet every quarter) to make sure that your financial ship doesn't need a course correction.

In this episode you will learn:

- Why a Mid-Year Checkup is Important
- The Importance of Tax Planning Now
- How Reviewing Your Budget at the Halfway Point Helps
- About Reviewing Your Net Worth

With all that is going on in our economy, from inflation to worries about recession and the resumption of student loan payments, people are getting stressed out about their finances. Money woes and fears can really weigh on your mind.

That's why in this episode of the podcast I wanted to talk about how that stress can affect your life, and what you can do to reduce it. You should also check out Episode 105 of the podcast where I talk about this with psychologist Dr. David Weiman.

In this episode you will learn about:

- The Effects of Financial Stress on Your Life
- How to Identify the Cause of the Stress
- How Getting Control of Your Finances Can Reduce Stress
- Saving on Gas For Your Summer Road Trip

Everyone who has federal student loans is waiting breathlessly for the Supreme Court to rule on President Biden's federal student loan forgiveness program later this month. But no matter what the decision, the moratorium on payments will be coming to an end, and you will have to start paying on them again.

That's why in this episode of the podcast I wanted to discuss what you need to do before the music starts up again to be sure that you are ready with an affordable repayment plan. What you do now will be critical to your financial freedom going forward.

In this episode you will learn:

• A Way to Accelerate Your Repayment Period
• A Simple Way to Get Out of Default
• Options to Create Affordable Repayment Plans

Everyone looks forward to retirement, that time when they can relax and enjoy life, made possible by the fruits of their labor during their working lives. However, that retirement isn't going to last that long, or be that enjoyable, if you don't adjust your non-salaried income to your non-working expenses going forward.

That's why in this episode of the podcast I talk about how to create a retirement budget to make sure that your golden years are solid, and not just plated.

In this episode you will learn:

- The Four Steps to Retirement Budgeting
- The Things to Consider in Creating One
- How to Align Adjustments with Your Personal Retirement Goals
- Managing Your Spending