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Today I have a special guest, Amobi Okugo. Amobi was drafted to the Philadelphia Union in 2010, which just happened to be the inaugural season for the Union. He spent 5 years in Philly and was a starter and an integral part of the team until he moved on in 2015. He then bounced around the MLS for a couple of years, before becoming a free agent and missing a whole year in 2018. He's now been back at it in Austin playing for their USL team, which is the second tier of professional soccer in the United States. I explored with Amobi what it was like playing in Philadelphia, which has some of the most loyal fans in the country. We then get into what it's like being an athlete and the challenges as well as benefits it brings. We dive into what it is like being drafted to play the sport you love, and then at the same time, we explore what it's like to then be released by a team and not know what your future holds. Amobi is very driven and has started a company called the Frugal Athlete which he hopes will be the go-to place for athletes to find resources that help them make smarter financial decisions. Amobi knows there have been too many athletes that have lost all their money, so we get into that and how he's trying to help. I think I’ve talked long enough, lets just get into this special episode, I think you will enjoy it. Here's my conversation with Amobi Okubo.Connect with AmobiA Frugal AthleteTwitter
On today's show, I talk with David Barnett, who is an expert in buying and selling business.  I wanted to come at the conversation from the angle of buying a business as an income generating asset in retirement. He had a lot of wisdom to share. We cover:How did David become an expert in buying and selling "main street" businesses?Should you buy or sell a business in retirement?Aligning your business venture to your interestsWhy buying a business and being "hands-off" is an unrealistic expectationDon't be fooled by the promise of buying an "absent-owner" businessThere is a lot more to owning a self-serve car wash than just collecting quartersWhat are the most important things to think about when buying a main street businessWhy do you need to make a proper cash flow projectionThree components of the typical financing for main street business transactionsRed flags when buying a businessHow Seller Financing can help foster a successful transitionThe fragile nature of businessesDoes the goodwill of a business reside with the business or the owner?Connect with DavidYouTubeNew Website!The Invest Smarter Podcast has a new website! Go to www.investsmarterpod.com to check it out. You can subscribe to our newsletter right from there and get our eBook, "Successfully Navigating the Market Cycle.Connect with David DeWittSubscribe to the Invest Smarter Newsletter (Bottom of the page)Connect on LinkedInGet a Free Financial AssessmentIf you received any value from this podcast, please leave us a 5-star review on Apple!Leave a review!
Today I talk about inflation. Specifically, I talk about where we stand today with inflation, reasons it may subside, and reasons it may continue. I then discuss why it is so damaging to our wallets and cover the specific ways we can combat inflation. Outline of the showWhere do we stand with inflation? [1:25]How inflation hurts our wallets [11:45]How to combat inflation [15:00]Where do we stand with inflation?Inflation is currently running hot. The last official reading was 5.4% year over year. We've certainly seen much higher inflation at the grocery stores and the pump. The question is, are we going to have sustained high inflation, or will it subside? I talk about a few reasons for both outcomes. How inflation hurts our walletsInflation is terrible for cash. It eats away at the value of our money. If you have $100,000 in the bank, and over the next twelve months, the price of goods inflates by 5%, you effectively are left with 95,000 dollars. That is the problem will inflation.How to Combat InflationStarting from super conservative to adding on some risk, I cover the options to put our cash in places that will protect us better from inflation. From high-yield savings accounts to stocks, I talk about several choices we have.Articles Mentioned in the ShowArtificially Low Rates Are Risky, Says Howard Marks US CPI Inflation Metric Rises 0.4% in September, More Than ForecastedFood Industry Execs: Inflation Could Worsen Yet - The Food InstituteHere Are Six Reasons Why Inflation Will Not Be TransitoryNew Website!The Invest Smarter Podcast has a new website! Go to www.investsmarterpod.com to check it out. You can subscribe to our newsletter right from there and get our eBook, "Successfully Navigating the Market Cycle. Connect with David DeWittSubscribe to the Invest Smarter Newsletter (Bottom of the page)Connect on LinkedInGet a Free Financial AssessmentIf you received any value from this podcast, please leave us a 5-star review on Apple!Leave a review!
Today we talk about Roth IRAs for your kids and why you shouldn't wait for a dip to invest. Outline of the ShowRoth IRA for you kids [4:06]Don't wait for the dip [14:00]On today's show, we talk about why and how to open a Roth IRA for your child. Roth IRAs are super powerful. You put after-tax dollars into it, and you take the money out tax-free in retirement when you are over age 59 ½. Now if you have kids, I want you to consider opening a Roth IRA for them. And let me tell you why. Here are a couple of reasons:EducationOpening a Roth IRA for your child can help them become smart with their money. You can have them engage in investment decision-making. Maybe they are really into video games. You can have them invest in the companies that make their favorite games. Maybe your daughter loves fashion. You can research fashion companies to invest in. The Power Of CompoundingThis is also a great way to teach your child the power of compounding. Show them how much their summer earnings could grow by investing it instead of spending it.We go in this and much more on today's show.Listener QuestionMichael wants to know if he should wait for a dip to put money to work. I break down my answer for him and illustrate why I think waiting for a correction is the wrong way to go about it. New Website!The Invest Smarter Podcast has a new website! Go to www.investsmarterpod.com to check it out. You can subscribe to our newsletter right from there and get our eBook, "Successfully Navigating the Market Cycle.Articles Mentioned in the ShowTime Horizon is EverythingPersonal finance legislationFinancial Literacy StudyConnect with David DeWittSubscribe to the Invest Smarter Newsletter (Bottom of the page)Get a Free Financial Assessment
Rising rates, in theory, are bad for tech stocks. Is that always true? I dive in with the help of a recent article from Ben Carlson. Next, I look into how adding a bit of bitcoin to your portfolio could mean you are investing like a Nobel Prize-winning economist. Finally, we answer a listener's question about retiring early before a feared financial disaster in the economy.Outline of This Episode[] Are rising rates bad for tech stocks?[] Can Bitcoin help you diversify your portfolio?[] What should Steve think about retiring early while he also fears a market crash?Why are Rising Interest Rates Bad for Tech Stocks?This year, there is a definite relationship between rising rates and falling stock prices. The other day, Ben Carlson put out a great piece on his blog showing the inverse relationship between yields and the QQQ, which is the 100 biggest stocks in tech-heavy NASDAQ. Sure enough, in 2021, rising rates have equaled weakness in the QQQ. Why is this happening? In theory, it's all about cash flows. Every single financial assets valuation is equal to the present value of future cash flows. To come up with a present value of future cash flows, you discount that future cash flows at prevailing interest rates (or some variation of it depending on the asset class). The higher the discount rate, the lower the present value.Can Bitcoin help you diversify your portfolio?What do Bitcoin and legendary economist Harry Markowitz have in common? They both advocate for modern portfolio theory. At least Bitcoin has up until now (that is subject to change without notice!). Modern Portfolio Theory says that a rational investor should choose an optimal portfolio that maximizes return but doesn't take too much risk. While Bitcoin on its own has the volatility that would make even the staunchest investor quake, when added modestly to a portfolio, it has displayed positive contributions to portfolios as a whole.Steven has a QuestionSteven asks whether he should consider delaying his early retirement because he has been reading articles and fears a financial crisis could be around the corner. Without speculating on the odds of a crisis, I attempt to help Steven think through some considerations and ultimately recommend that he may be well served to speak with a planner who can stress test his financial plan. Articles MentionedWhy it is wise to add bitcoin to an investment portfolioAre Rising Interest Rates Bad For Tech Stocks?Connect with David DeWittSubscribe to the Invest Smarter NewsletterGet a Free Financial AssessmentSubscribe to the Invest Smarter podcast on your favorite platformApple Podcasts, Spotify, Google Podcasts, or Castbox
More VolatilityMarket volatility stayed elevated last week as interest rates made a move higher, a government shutdown loomed, and a major infrastructure deal hangs in the balance. Yet, the market is still less than 5% down from its all-time highs. Since we spent 220 plus days straight less than 5% from the highs, (S&P 500) it is natural that the first bout of volatility catches some of us off guard and causes us to make irrational decisions. Let's make sure that if this much volatility gets us feeling nervous, we gut-check our portfolios.Investing in MegatrendsMy guest today is Luke Hallard. He is the founder of Telescope Investing and the host of the Telescope Investing Podcast. He has a clear framework for investing in megatrends - trends that are shaping our future. It is very similar to thematic investing. In the interview we go over:Luke's journey to becoming a (nearly) full-time investorLuke's framework for investing in megatrendsSome of the biggest trends in the marketHow to hold on when volatility shows upWho megatrend investing is forSustainable investingand moreConnect with LukeTelescope Investing WebsiteTelescope Investing PodcastConnect with David DeWittSubscribe to the newsletterFollow on Twitter  Free Financial Assessment Subscribe to the Invest Smarter podcast on your favorite platformApple Podcasts, Spotify, Google Podcasts, or CastboxThe Invest Smarter podcast is the fastest-growing investing podcast in the United States. 
We finally had significant market volatility on Monday of last week (9/20/2021) as fears that a huge property developer in China, Evergrande, was going to default on its massive pile of debt and cause a 2008 style crisis all over again. Well, before we could blink, it was over and the market came right back.  However, could that have been the crack in the Armor? Also, we discuss how earnings calls can predict the performance of a stock, and how recent earnings calls show that inflation is on the mind of corporate America. Finally, there has been a new tax proposal that has serious implications for your retirement plans. I'll go over some of the biggest changes. Today's HeadlinesChina Evergrande: What Is It and Why Are Investors Worried?Evergrande debt: Collapse could have domino effect on China propertiesChina: Evergrande Portends Housing CrisisS&P 500 companies have inflation on the brain, as ‘inflation’ mentions on earnings calls hit 10-year highComplex Language on Earnings Calls Is a Warning to InvestorsMain Topic7 Ways The New Tax Bill Could Impact Retirement Planning Connect with David DeWittSubscribe to the newsletterFollow on Twitter  Free Financial Assessment The Invest Smarter podcast is the fastest-growing investing podcast in the United States. 
Do you have any 401(k)s left behind with previous employers? Should you keep them? Research shows that you could be leaving a small fortune of money on the table if you do. We get into this today on the show. Also, we talk about a recent headline from CNBC about "stock growth coming to a peak," how Bitcoin gets lost and found, and why the obesity pandemic is such a mystery. Today's headlinesFour reasons stocks may be approaching 'peak growth’ and what that may mean for investorsA father and son who help clients find forgotten crypto passwords estimate billions of dollars worth of lost bitcoin is recoverable.What happens to lost bitcoin?. Every year, millions of dollars worth… | by SatoshiLabsA Chemical Hunger – Part I: Mysteries – SLIME MOLD TIME MOLDA Chemical Hunger – Part II: Current Theories of Obesity are InadequateA Chemical Hunger – Part III: Environmental Contaminants – SLIME MOLD TIME MOLDMain TopicThe True Cost of Forgotten 401(k) AccountsConnect with David DeWittSubscribe to the newsletterGet your free 3-minute financial planFollow on Twitter  Subscribe to the Invest Smarter podcast on your favorite platformApple Podcasts, Spotify, Google Podcasts, or CastboxThe Invest Smarter podcast is the fastest-growing investing podcast in the United States.
Today I talk about investing in companies that actually innovate with Dan Toma, an innovation expert who helps companies transform into innovative machines. But first, I  talk about some staggering stats about how underprepared baby boomers are for retirement, and how legislative changes are coming to make saving for retirement easier and more flexible.Outline of this Episode[1:45] Baby Boomer's underprepared for retirement headline[5:25] Interview with Dan TomaBaby Boomer's are Underprepared For RetirementPrior to the 401k, savers relied more heavily on pensions and defined benefit plans. The 401k shifted the onus of saving from the employer to the employee. 40 years after this change, we see the results have been quite mixed. A study from the National Institute on Retirement Security, the median amount of financial assets owned by baby boomers is less than $50,000 which translates to only about $160 per month! I think education is the most important thing. We need to be teaching people about personal finance starting at an early age. A report called the Nations Report Card on Financial Literacy gives 66% of states a grade of C or worse for financial literacy instruction, so there's clearly room for improvement. Investing in Innovative CompaniesDan Toma is an innovation thought leader and the co-author of the award-winning book The Corporate Startup and Innovation Accounting.  His work focuses on enterprise transformation -- specifically on the changes, blue-chip organizations need to make to allow for new ventures to be built in a corporate setting. He was featured on the Thinkers50 2020 Radar list of management thinkers to watch and is a member of the World Economic Forum’s working group on accelerating digital transformation. In the interview we discuss:What is innovation?What is “innovation theater”?The value of financial statementsSmithsonian Institute as an Innovation exampleMicrosoft as an innovation exampleRoche as an innovation exampleThings to look for in a company that is fostering innovationESG is a neighbor of innovation?Identifying red flagsLooking at where a company is investingThe New Product Vitality Index (NPVI)Why you shouldn’t boil innovation down to one indicatorLearn More About Dan on his website where you can check out his blog and his books:Dan's WebsiteConnect with David DeWittSubscribe to the newsletterGet your free 3-minute financial planRegister for our upcoming webinar on tax planningSubscribe to the Invest Smarter podcast on your favorite platformApple Podcasts, Spotify, Google Podcasts, or Castbox 
Jimmy Song has written three books. His latest is called Thank God for Bitcoin, and he gets into why the current financial system is corrupt and why Bitcoin can fix it. And that is what we get into today. He is hands down the most interesting person I have talked to regarding Bitcoin and cryptocurrency. What you'll learn: What is a Bitcoin MaximalistWhat is BitcoinCommon arguments against Bitcoin and the RebuttalWhy Bitcoin is not like the Tulip BubbleWhy Bitcoin is volatileCan Bitcoin be a practical medium of exchange?Bitcoin adoption around the worldThe Bitcoin standard?Why is the US dollar the world's reserve currency?Why our current system is corruptWhy credit is corruptDirty little fiat secretAbout Jimmy's book - Thank God for BitcoinFollow Jimmy:Follow Jimmy on TwitterBitcoin Tech TalkThank God for Bitcoin on AmazonFollow Invest Smarter!Get our monthly newsletter on topics around financial planning, the latest news, markets, and more. Sign up for the newsletter
Today I am joined by Susana Selles. She is engineering her way to Financial Independence Retire Early- FIRE. Susana is doing this by investing smarter, not harder, and has a unique perspective on asymmetric investments. She is a huge proponent of cryptos and blockchain, and she tells us about its potential. She is the host of her own excellent podcast called Say YES to FIRE: Financial Diaries of a Millennial.
What's this episode about?My guest for this episode is Tristan Pelloux. He is passionate about all things fintech and is the founder of Fintechreview.net, a media website that has a mission to demystify the world of fintech.In today's show, we get into some topics you may have heard of before but aren't really sure what they mean. After listening to this episode, you still may be confused about exactly what embedded, and decentralized finance is, but I think you'll have a better idea. Because I know I am still confused!In this episode, we start talking about what fintech actually is because sometimes the term gets thrown around for things that don't actually qualify. Today, we talk about some of the biggest fintech themes, such as payments with companies like Stripe, and how the established banks attempt to stay relevant.We also dive into how fintech companies are changing the way we bank and invest. We both seem to agree that some of the companies that have "democratized" investing, like Robinhood, have not been purely positives for the consumer.We get into non-fungible tokens and how they are enabling a new way of owning assets digitally.Episode Resources:Fintech ReviewWhy is NFT a Game Changer for the Ticketing Industry?About the Podcast:The Invest Smarter Podcast is a show with a mission to bring valuable, insightful, and practical conversations to our audience. We want to enable people to invest smarter both in their portfolios and in themselves to live a healthier, wealthier life both now and in retirement. Host Dave DeWitt is a financial advisor with DeWitt Capital Management who is passionate about helping his clients invest smarter and plan for the best possible future.
Keeping a global perspective on markets is a must if you want to be the best investor you can possibly be. Today's guest, Jonathan Baird CFA, knows all about this. He was able to see trouble from COVID-19 coming early because his global research kept him astutely aware of all the action regarding the virus before it hit our shores in the USA.Jonathan is the author of the monthly report called the Global Investment Letter. After reading a few of these myself, I knew I was in for a treat. He has a wonderful, impressive, and nuanced worldview. Check it out here.On today's show, we talk about: Jonathan's approach to investing What is causing inflation Why Jonathan believes inflation will be transitory (his view is subject to change!) Why the markets are driven by psychology His thoughts on the durability of "meme stocks" His thoughts on Robinhood His advice for pre-retireesAnd more!
With a solo 401(k), you have so much more flexibility when it comes to your retirement account. This week we have solo 401(k) expert Daniel Blue on the show to give the lay of the land. One of the biggest pain points with your traditional 401(k) is the incredibly limited menu of investment selection. With a solo 401(k), your investment universe is virtually unlimited, allowing you to make your retirement dollars work for you the way you want them to.A solo 401(k) can give you the flexibility you need to access your money without triggering a taxable event, invest in real estate, pay down debt, or fund a new business venture. Listen now to learn and become a smarter investor. Visit Daniels website at https://www.danielblue.me/Visit his company website at https://www.yourquest.com/
Mark Willis is a man on a mission to help you think differently about your money, your economy, and your future. He graduated with six figures of student loan debt and watched everybody lose their retirement savings and home equity in 2008. He knew that he needed to find a more predictable way to meet his financial objectives and those of his clients.The Bank on Yourself™ that Mark employs has its critics, but from my research and conversations with others, I believe it can be a great strategy for the right person as a complement to all the important other parts of a well-rounded financial plan.As co-host of the Not Your Average Financial Podcast™, he shares some of his strategies for investing in real estate, paying for college without going broke, and creating an income in retirement you won’t outlive. Mark works with people who want to grow their wealth in ways that are safe and predictable, to become their own source of financing, and to create tax-free income in retirement.Check out Mark's podcast by clicking belowhttp://nyafinancialpodcast.com
This is the first episode of our new midweek episodes, where we will be talking all about retirement planning and investing topics in a shorter format. All of these episodes will be best enjoyed on our YouTube channel, where graphics will accompany the audio. We hope you enjoy this new expansion of our Podcast/YouTube channel. In this 15 minute podcast, you will learn what it is, why it's so surprising, theories as to why it has occurred, and reasons it may continue. In short, the age-old wisdom of more risk, more return hasn't particularly held up that well through history.Please leave us a review if you have enjoyed our podcast!Source of data: https://bmogamviewpoints.com/the-low-volatility-anomaly/
Today I talk with Brian Thorp, the founder of WealthTender. Wealthtender is an online service that can help individuals identify and discover financial resources that they might require- whether it's a financial advisor, financial coach, educational podcasts, and more. We talk about the critical role human financial advisors can play for individuals, we talk about how finding the right advisor doesn't mean they have to be down the street from you, and much more.He also turns the tables on me and asks me about my philosophy when it comes to investing in individual stocks as part of a financial plan, which I think can make working with an advisor a lot more engaging and, yes, even fun.I encourage you to visit wealthtender.com to explore all the great things Brian is up to.
On this week's show, we are back talking about investing and the markets. Our guest is Herb W. Morgan of Efficient Market Advisors. Herb is a sharp guy, and we get into several interesting and relevant topics. We dive into inflation, and the interesting market reaction to the latest Federal Reserve update to increase their inflation forecast. However, they still maintain that inflationary pressures are largely transitory. Herb believes the bifurcated market reaction, with value stocks all of a sudden rolling over and growth catching a big bid, is a sign of growth regaining a leadership position. We also discuss the Modern Monetary Theory (MMT) experiment and the risk that it ultimately leads to unknown but potentially dangerous unintended consequences. We talk about the US Dollar's role as the reserve currency for the world, Bitcoin's potential as a true currency, and much more. We have a wide-ranging and dynamic conversation that will help bring you up to speed in the markets. Herb has a fantastic podcast called Slaying Bulls & Bears, where every week, he breaks down the market in a methodical, data-driven, and compelling way. Listen to his podcast here. Enjoy this week's episode. 
Investing smarter can mean a lot of things. In the case of serial entrepreneur Rob Kessler, it means investing in yourself. After starting a screen printing and embroidery business, one thing led to another and he learned early that the best investment was in himself. It makes sense because he has a good track record! He also appreciates the importance of diversification, which is important for many entrepreneurs. In this show, he shares his story, gives valuable advice for entrepreneurs, and much more. He drops nuggets of knowledge throughout the interview, so give it a listen. In this show we talk about: The Million Dollar Collar and how he started the business His yacht charter business How his screen-printing business became a million-dollar business Advice for entrepreneurs Much more!Check out his product here. 
Abbie Leibowitz pioneered an industry of heath advocacy when he co-founded Health Advocate. Listen to his story as he talks about his early career as a pediatrician and how he then found himself as the Chief Medical Officer of the health insurance behemoth Aetna. Abbie has an inspirational story to share, and we hope you enjoy it.
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