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The Stacking Benjamins Show

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Live, from Joe's mom's half-finished basement....listen to a parade of financial headlines, personal finance experts, creatives, and people with stories that inspire us. Every Monday, Wednesday, and Friday, hosts Joe Saul-Sehy & OG meet at the card table and bring you guests, trivia, your letters about saving, investing, and risk management, and much more. Academy of Podcast winner for "best business podcast of the year," 2017 Plutus award winner for "best personal finance podcast," and Kiplinger magazine's only recommended personal finance podcast.
542 Episodes
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We all know that subscription costs add up: Amazon, Hulu, Netflix, maybe a lawn service or wine-of-the-month club. But how do you make the decisions which to keep and which to heave-ho? Today our roundtable team, including author Frankie Calkins (author of the new book The Money Resolution, 101 Ways to Save Money, Make Money, and Get Out of Debt in One Year), OG, and Paula Pant (host of the Afford Anything podcast). Whether you're in subscription hell or can't remember the last time you said yes to a subscription service, we'll chat our way casually through all the relevant stuff you need to think about. We heard from you when popular app Debitize went bye-bye, and halfway through the show we'll talk to Thomas Smyth, CEO and founder of cost cutting app Trim. The company recently purchased Debitize, and we'll ask Thomas to give us the skinny on what the future looks like? Why did they decide to buy Debitize, how are they integrating it, and what does the future look like for the new combined company. Of course, we'll then dive into Doug's ah-mayz-ing trivia, but then we'll field a voicemail from the Magnify Money Line from Trent. Trent's been given the opportunity to be a professional athlete. He's currently 23, and has been talking to financial advisors. Their advice is largely the same except in one area: whole life insurance. What's our take on the issue? Looking for something deeper than what we give you on the show? Three days a week not enough? Subscribe to our weekly newsletter: The Stacker. Thanks to AcreTrader for supporting Stacking Benjamins. Learn more at AcreTrader.com/sb.
We can learn a ton from the wealthiest among us, and Veronica Dagher from the Wall Street Journal, and host of the Secrets of Wealthy Women podcast, has a front row seat with some of the smartest and wealthiest people in the country. She'll share with us lessons from three women that easily apply to both women and men. You're going to pick up some great career, money, and life advice on today's show! In our headlines segment we're discussing two different pieces by MarketWatch and Financial Planning. Is it true that the stock market can't be beat? One MarketWatch article claims that what you think you know probably isn't the right answer. And in our second piece, is there a good reason why so many financial advisors are jumping ship? We'll give our take on why advisors are so eager to switch firms. Then in our Haven Life Line segment, we'll field a voicemail from Matt, who's looking to diversify his portfolio. What's our take on pot stocks? We'll also answer a letter from Craig, who writes in about how he is finally debt free and has a paid off home. He's now getting into some pretty aggressive investing and wants some advice on different strategies he has in place. Of course, we'll also make some room for some of Doug's trivia.
Scott Rieckens felt something wasn't right in his life. While he lived in a beautiful corner of the world, and despite he and his wife having fantastic jobs, life just wasn't what he'd expected. So, he did something that few people do...he actually decided to change. The results? He's teamed with Emmy Award-winning director Travis Shakespeare and created a documentary called Playing With Fire, which not only chronicles he and his spouse Taylor's journey toward a better future, but it also explains the concepts behind a movement called FIRE (financial independence/retire early). We'll talk to the makers of the film about how they created the final product. We'll preview the concepts Scott and Travis explain in the movie, and finally, we'll share some details about how and when you may be able to see it yourself. And in our headlines segment Joe will talk to Meredith Ryan Reid about MetLife's new study showing that Gen Y women are behind other groups on both their finances and their confidence in the workplace. Meredith will give us some advice and strategies on what to do when you find yourself falling behind. Later in the show we'll throw out the Haven Lifeline to Katherine, who has some questions on calculating her net worth. Wouldn't paying off debt also lower the amount of cash available to you, in turn keeping your net worth the same? Then, in our letters segment, we'll field a question from Wendy about what she should be doing with her full service brokerage account. She's taken some time to learn about commissions and high annual fees. What's the best plan on moving everything over to a new, low fee account? Of course, we'll also make some room for some of Doug's leprechaun-themed trivia. Just how do leprechauns earn all that gold they hide away at the end of the rainbow? Thanks to AcreTrader for supporting Stacking Benjamins. Learn more at AcreTrader.com/sb. Looking for something deeper than what we give you on the show? Three days a week not enough? Subscribe to our weekly newsletter: The Stacker.
Have you checked your credit lately? How does credit even work? Why do I have a low credit score? Today, Len Penzo, OG, and our special guest Gerri Detweiler tackle credit, credit cards, and hwo to best make your credit score your friend. Halfway through the show we'll take a break from our discussion while Joe talks to Carter Malloy from AcreTrader. When you think investments, does farmland come to mind? On today's fintech segment we'll talk to farmland a viable, attractive investment option. After Joe wraps things up with Carter, Doug will jump on the mic to deliver today's trivia question to our roundtable crew. Before the first transcontinental railroad was completed a coast to coast trip could easily cost $1000 or more. But how much did the trip cost after the railroad connected the two coastlines? Keep your answer in mind... but no cheating! Doug will give us the answer after the roundtable has a chance to get in their answers. After we declare a winner for our halftime gameshow, we'll answer a Magnify Money call from Andrew. Andrew and his family will be moving soon from their paid off condo into a townhome. Should the family use some of their emergency fund to pay down more cash on their townhome, or wait until their condo sells and use that money towards their new home? Looking for something deeper than what we give you on the show? Three days a week not enough? Subscribe to our weekly newsletter: The Stacker.
Erin Lowry from Broke Millennial learned early on about investing. As someone who's VERY conservative and not excited about losses, she didn't want much to do with investing. But, she'll tell us the story today about how she got started and about how you can make it easy. We'll talk about the types of funds to simplify your investment choices, how to add money, and what to do if the market isn't your friend (things start to fall apart). Plus, in our headlines segment, one man who called the last two market downturns says there's another on the way. Should we be preparing for choppy waters? Later on, we'll throw out the Haven Life Line to Larry, whose emergency fund has been drained after a few back-to-back expenses. Should Larry get his emergency fund back to capacity over time, or look towards his Roth IRA contributions to speed up the process? And in our letters segment, Brian has took a side gig delivering food for Uber Eats. After talking to some of his fellow drivers Brain is suspicious that they're defrauding the IRS by not paying any taxes on their earnings. Should Brian steer clear of their advice, or is he just missing out on easy money? As always, we'll still save some time for Doug's trivia...which today is exceptionally epic. Thanks to Ting for supporting Stacking Benjamins! Get $25 off your phone at sb.ting.com.
On today's show, we'll sit down with David Bach, the nine-time bestselling author. What's keeping you from achieving your financial goals? Is it a latte a day? While it doesn't necessarily have to be a latte, our discussion with David will shed some light on the simple things in your life that could be holding you back from reaching your destination. And in our headlines segment, we'll be joined by Ashley Boucher of Sallie Mae. Sallie Mae has released their Majoring in Money 2019 report, and among some of the more surprising discoveries is that some students hold FIVE credit cards. We'll discuss more of the big takeaways from the report during our call with Ashley, along with covering an article from InvestmentNews about Schwab's new portfolio management tool. Later in the show, we'll throw out the Haven Lifeline to Thomas, whose son has gotten all of his college paid for this past year, (with money to spare!) Thomas' son wants to put the extra $3000 into a Roth IRA. Are they allowed to do this, or are there some restrictions that are in place? Then, in our letters segment, Dano has some questions about how he should allocate his retirement funds. With Dano paying a percentage of his money to a pension, wouldn't that be considered his "safe" investment? When Dano is putting money into his Thrift Savings Plan account, couldn't he put all of the cash into the more aggressive funds? Of course, we'll also make some room for Doug's trivia, so don't you worry.
To end our rewind week we present one of our favorite roundtable topics. How do you start saving, when you feel like you can't? I think most people are in this boat, based on statistics about how much money the average person squirrels away. So, here with good facts and humor, were Len Penzo, Hilary Hendershott, and Hannah Rounds. Plus, our friend Shannon McLay was just opening her wildly successful Financial Gym in New York (now she's expanding it all over the USA). We talk to her in this episode about her launch. Here are the show notes from the original episode: What was the best advice someone could have given you when you first started investing? If you're a new investor OR a seasoned pro, you're in luck because our roundtable team are all sharing their best tips today to help get the ball rolling. We're joined by two great guests today (along with the amazing Len Penzo)...host of Profit Boss Radio, CFP Hilary Hendershott AND one of our favorite writers, Hannah Rounds from Unplanned Finances. Not only will we talk about getting started early with your financial plan, but then we'll also tackle problems with brokers and sales incentives. How do you know you won't get burned? Finally, we'll answer a question originally asked of The Moneyologist at MarketWatch.com...what would you do if you found out your mother had taken out lots of credit using your name illegally? Would you turn her in? You'll be surprised by all of our answers. THEN in the FinTech segment, we're actually going to go anti-FinTech this week and talk to our friend Shannon McLay about her new concept coming to a city near you, the Financial Gym. What happens when you give your money a workout? How does it work? Maybe, even though we talk about great ways to use your phone for planning purposes, maybe face-to-face coaching has a place in your planning, too. Thanks to Magnify Money for sponsoring our podcast! Support the companies that support us and help yourself along the way.
I'm personally excited for you to hear this episode. When this first aired I personally was going through some really dark stuff...and as always happens, I found a book that spoke to me and helped me through it. I needed to change. I needed a wake up call. Maybe you do, too. I was lucky that I found Cortney's book and wondered, "Would she come on the show and talk about this?" I'm grateful that she did. Of course, the rest of the episode is a lot of fun, as always. - Joe. Our original show notes: Where do you start when planning your money? Cortney McDermott, the author of one of this year's hottest self-help and business books, joins us in the basement to talk about starting out. If you don't know what you want, how do you know where to go? Yet, most of us don't ask ourselves the right questions to even begin the journey. Plus, we'll also share headlines from the world of financial planning, throw out the Haven Life line to a lucky listener, score with some of Doug's delightful trivia, and more. Huge thanks to Roofstock (check them out for real estate) and MagnifyMoney.com (when you're comparing financial tools like credit cards and savings accounts) for helping us with today's show. They're awesome companies and if you're not using them, I'm not sure you know what you're missing!
The "system" isn't fair. Names from Ray Dalio to Bill Gates talk about income inequality. Poverty is often swept under the rug by people who want to easily dismiss it as "not pulling yourself up," yet most know it isn't that easy. One man who knows very well how difficult inequality can be is John Hope Bryant. He came down to the basement to talk about "getting the memo" in 2017, and we've been talking about it ever since. To kick off rewind week (if you're new to the show, we play favorites for a week after eight weeks of new podcasts), we're excited to re-share this episode. Enjoy!
Here's Why You Aren't Rich

Here's Why You Aren't Rich

2019-04-2601:18:25

Why aren't you rolling in the dough? Maybe it's because you aren't focusing on the right parts of your budget. Studies have consistently shown that ONE area of savings beats all others. What is it? Tori Dunlap from HerFirst100k joins Len Penzo and OG to talk about why you aren't saving more money. While you'll learn the top reason why you aren't saving more, you might also have fun doing it.... Halfway through the show we'll take a break from our discussion while Joe talks with Jarrod from the new Easy Profit game. If you've spent any amount of time listening to the show you know that we love the idea of the science of play. So when we heard about a new game that'll teach you how to understand financial statements we just had to talk to the guy behind it all. Then, when Joe's done talking to Jarrod, we'll take some time for Doug's trivia. After a little Disney inspired gameshow fun we'll answer a voicemail from Demetrious, who's been hard at work paying down his loans. While Demetrious wants to keep bringing an extra cash all the overtime at his manufacturing job has been wearing down on his body. Are there some side hustles that he could turn to? Thanks to MetPro for supporting Stacking Benjamins. Get a complimentary Metabolic Profiling assessment and a 30-minute consultation with a MetPro expert at metpro.co/sb. Thanks to Experian for supporting Stacking Benjamins. Boost your FICO score instantly for free. Boost is only available at Experian.com/sb.com.
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Comments (3)

Joe Reed

Katie didn't have a very good recruiter

Mar 21st
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Joe Reed

I thought the headline was a joke. Did she really know what show she was going on? awesome trivia today

Sep 27th
Reply

Gabriel K Jones

Gentlemen, I will to disagree with the concept of over saving. Being prepared is never a bad idea, being prepared without a plan can be detrimental. Don't you agree?

May 19th
Reply
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