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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.
567 Episodes
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Clutter is everywhere. We buy more stuff to make us happy and all it does is makes us miserable and broke. How do we get out of the cycle? On today's show we'll talk to Tracy McCubbin, founder of cleaning and organizing company dClutterfly. On today's show we'll Declutter your stuff by getting behind the emotions of clutter and dispelling some long-held myths. Plus, during our headlines segment, we'll cover one shocking piece by InvestmentNews, claiming that retirees are going to miss out on $3.4 trillion by claiming their Social Security too early. Is this a case of needing more cash for basic living expenses, or just ill informed retirees cashing in a few years too early? In our second headline we'll erxamine one trend that's gaining a bit of traction: financial apps that charge users to save money. Is it worth paying money to save more? After a little dose of Doug's trivia, we'll turn our attention to the Haven Life Line. Mike calls in today asking about 529 plans. His parents want to contribute to Mike's son's 592 plan. Can Mike use the interest from the account to invest in another account he owns? And as we finish out our letters bag, we'll tear open some mail from Brian, who has some questions about Roth conversions and the pro-rata rule. Can Brian and his wife avoid the tax hit if the conversion is done in his wife's name? Thanks to Skillshare for supporting Stacking Benjamins. Get TWO months of courses for free at Skillshare.com/SB.
Picture this: You and your friends are taking a road trip. You get off the highway and pull up to the third gas station of the day. You cut the ignition, take a look around the car and everyone avoids your gaze. You've paid for gas during the last two stops and no one is jumping up at the grand opportunity to fill the tank the third time around. What's your next move? Answering questions presented by one financial story which shines a light on situations like this and more today is our originals roundtable group: Paula Pant of Afford Anything, Len Penzo of LenPenzo.com, and OG from our very own Stacking Benjamins podcast. Halfway through the show, we'll take a break from our discussion on all things awkward while Joe sits down with Zohar Steinberg from Token. With privacy concerns and stolen credit card information constantly in the news, Zohar came up with a solution: unique credit card numbers for each transaction or service. Something goes wrong with one of your transactions or services? You'll have the peace of mind that the rest of your account is safe. Interested in knowing more? Joe will dive into the product with Zohar and learn all the ins-and-outs of Token. Plus, after we get through with Doug's trivia gameshow, we'll answer a voicemail from Lynn during our Magnify Money segment. Lynn will have about $5-7k left over after she pays off her travel expenses from long-term work trips. What should she do with the money? Should she focus on debt or investing? Our roundtable will give their 2 cents and provide Lynn some solid options on what to do with her money.
Worried about fighting with the people in your life about money? Here's the way to end it. Even if you're just struggling to talk to other people in your life about money...maybe it's not you. People don't talk in one financial language. According to Tarra Jackson, today's guest, there are actually FOUR different languages. We'll sit down with Tarra today to learn just what those four languages are, and how we can best communicate with people speaking in a different tongue. Worried about fighting with the people in your life about money? Here's the way to end it. In our headlines segment, we'll discuss weddings. Should we have a small wedding and invest the rest to ensure that we retire rich? Is it possible to do both (have a big wedding AND be rich)? We'll cover that plus another headline about employers seeking permission to send uncashed pension checks to the unclaimed proper funds. Should employers have fiduciary liability for former employees who refuse to cash their checks? Plus, after we take some time for Doug's trivia, we'll answer a question from Russell. Russell wants to know what's the point of being an accredited investor? Why should someone become an accredited investor? And as we finish up our letters segment, we're tearing open a letter from Jacob, who wants to move out of his parent's basement soon. Jacob and his girlfriend are currently living in the basement rent-free and are getting their finances ready to be on their own. Jacob sent in some info on their situation and want some input from fellow basement-dwellers. Are they going to be ready to move out?
Shaan Patel is one of the best examples you'll find of a person who started with some big disadvantages but who never made excuses about his situation. Growing up in a budget motel in Las Vegas, Shaan still found a way to ace the SAT, be valedictorian of his high school class, study medicine, start a company, and land a partnership with Mark Cuban. All of this before he was 30 years old. We can't wait for you to hear his story and use it to motivate yourself to get up, do more, and achieve your dreams. In our headlines segment, we're looking at one bill that will change the way your 401k works. Is it a positive or negative change to your retirement plan? We'll discuss ONE of the many aspects of the bill and come down...well, it depends on what you're looking for from your retirement law. Plus, in our second headline, we'll discuss one piece sent by a listener, which covers the story of one man who's being charged with multiple crimes regarding investing, securities, and exploitation of the elderly. The catch? He doesn't even have a license! After we take some time for Doug's trivia, we'll swing around to the Haven Life Line. Biff and his family don't have any debt, and the college costs for his kids are taken care of. At what point should they stop locking away cash in an IRA? We'll finish up with a letter from Matthew, who has some questions about a fund manager he heard about on the show. They're expenses are a bit higher than he's used to, but they've outperformed the market. Does a well managed fund justify the extra cost? Thanks to Away for supporting Stacking Benjamins. Go to awaytravel.com/sb20 and use the promo code sb20 to get $20 off a suitcase!
What are some of the biggest lies of retirement planning? Today we'll finish off our rewind week with one of our old school roundtable episodes. Back in 2017, we discussed 9 lies we're told about retirement planning. Going through the list with us was Paula Pant, former roundtable regular Greg Mcfarlane, and special guest Rich Jones from the Paychecks and Balances podcast.  Plus, long time listeners may remember this old segment: we also had a rousing conversation about a Marketwatch Moneyologist piece. If you had two kids, and one was irresponsible with money, would you disown him? That question spurred some interesting estate planning chatter that may bring up points you may want to address in your own planning.  Here is our original show description: On today's podcast we're talking about lying. A recent news piece reports that there are nine lies we're told about retirement planning. We'll break them down with Greg, Paula, and special guest Rich Jones from the hit podcast Paychecks and Balances. We won't stop there, thought. We'll also discuss a recent question to the Moneyologist at MarketWatch. If you had two kids and one was irresponsible, would you disown him? We ask our roundtable that very question and come up with some interesting estate planning themes you may want to address in your own planning. On the Freshbooks FinTech segment we talk to Michael Asare from Fee Belly. Ever feel like the fine print in a contract is completely against you? Fee Belly was designed to show you ALL of the fine print by highlighting it so you can easily see where contracts might not be in your favor. We'll ask him how it works on today's podcast. Thanks to SoFi and MagnifyMoney.com for sponsoring our show!
If anyone knows how to sell a house, it's Mindy Jensen. Not only is she a house flipper extraordinaire, but she also works at BiggerPockets, the home of one of the largest forums (if not the largest) for real estate investors. She knows LOTS of the best advice. We talked to her a year ago, and in the spirit of this home-buying season, we thought we should replay this episode because it was such great advice. Whether its your residence, a rental you've been meaning to get rid of, or you're dipping your feet into flipping homes, there are easy mistakes you can avoid to sell your home FAST and get the most out of a sell. Back in 2018 we talked to Mindy Jenson, a master house-flipper whose successfully sold house after house, and got some insider tips on tricks are coming out of the real estate market a winner.  Here is our original show description: In a crowded market, having a leg up by avoiding some easy mistakes might be the difference between selling your home quickly, and for the top dollar price possible, or not selling at all. House-flipper Mindy Jensen has sold COUNTLESS houses, and today stops by the basement with her best tips to help you sell your own homes faster. Whether it's your primary residence, rental property or flip, she'll detail how to prioritize and budget for repairs or improvements, and how to find the right help to sell your home. In our headlines segment, freelance writer Hannah Rounds has published a piece on which tax software makes her "recommended" list and which she says to avoid. She comes down to the basement to discuss winners and losers. Also in headlines, what can we learn about finance from basketball player LeBron James? Apparently, quite a bit, according to one publication. We'll talk about key lessons from LeBron on today's show. We'll of course have more from the world of financial planning, throw out the Haven Life line to lucky listener Marie, who wonders about better diversification for her money. Is ONLY having an S&P 500 fund a good approach? Of course, we'll still score with some of Doug's delightful trivia, and more. Why compromise with investments when you can use an intuitive, easy-to-use, robust platform? M1Finance combines the power of automated investing platforms with the flexibility of do-it-yourself but more expensive brokers. ...and now, it's FREE! Be Invested. Check out M1Finance .
The rules of work have changed over the last several years. You need to stay up to date on what's relevant so you aren't left behind and miss the next career opportunity. We were surprise when we went back and listened to this episode from 2017, when Joe sat down with Kathryn Minshew & Alex Cavoulacos, founders of TheMuse.com, to review what were then the new rules of business. Clearly, many still don't understand these. We find that these rules are just as relevant today as they were a few years ago, so we decided it was time to roll this episode again. Here is our original show description: Struggling at work? We'll review some of the "new rules" of business with the founders of TheMuse.com, Kathryn Minshew and Alex Cavoulacos. We'll talk about new rules in networking, finding the career you love, and working more effectively at the job you love. In our headline segment, Brian Barnes, CEO of M1Finance drops by to talk about tax planning. We know tax day was yesterday but these tips will help you make tax-smart moves while investing for the future. We'll also talk about another company being sued by an employee for rotten 401k options. Target date funds are again in the middle of some more controversy. Gena calls the Haven Life line to ask about the American Opportunity Credit, we share good news about recent guest Adam Dell and the Clarity app, and answer a letter from Ben about emerging markets investing. Is active investing the best way to go in smaller, more volatile markets? Of course, Doug brings down the trivia, and much, much more.
Less stress, easy overhead, and being debt-free... those are three fantastic reasons to chase financial independence. For a growing number of investors the top reason to save and live frugally has become a chance at early retirement. But, what type of freedom does early retirement bring? Is the freedom gained from early retirement worth it? We'll ask our contributors their thoughts on early retirement, and explore the concept of not retiring FROM something, but TO something on today's show. Assisting us in today's discussion is Rocky Lalvani from the Richer Soul podcast, Len Penzo from LenPenzo.com, and OG, from our very own Stacking Benjamins podcast. Halfway through the show, we'll hit the pause button on our discussion while Joe talks to Kevin Kidd, Roush Fenway competition director. You might be thinking, "WAIT, that's not FinTech! what does that have to do with finances?" As it turns out, there are a few financial lessons to be had from a professional racing team. Plus, after we finish a few laps around the track, we'll answer a voicemail from Rosie during our Magnify Money segment. Rosie's parents are retired, and she's recently learned her parents have been charged some crazy fees from their financial advisor. She wants to move them over to some low-cost index funds, but doesn't want to lose all their money in the process. What should their asset allocation look like? Thanks to Experian for supporting Stacking Benjamins. Boost your FICO score instantly for free. Boost is only available at Experian.com/sb 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.
We're barring the doors, closing the shades, and not answering any house calls because today we're answering YOUR letters. From paying down a mortgage principle or investing, to allocations, backdoor conversions, and even the best strategies on giving kids an allowance... this show has it all, thanks to YOU! Plus, in our headlines segment, what can we learn from the life of a day trader? Longtime listeners can probably imagine the whole team's collective groan when we first broached this topic, but the more we discussed this headline, the more we found LOTS of great ideas that everyday investors can use. We love some of the lessons we can distill when learning what separates a good day trader from a bad one. In our second headline, we'll wonder out loud where is the future of financial advice is headed. We'll look over one report from Hartford Funds on important financial considerations you need to keep in mind and give our two cents while we're at it. Later, after we take a break during Doug's trivia, we'll queue up a voicemail from Pete, who no longer works at a job with 401k access. What are his options for investing with tax benefits? Can he still max our his Roth IRA through a backdoor conversion?
What does a volcano have to do with your retirement? We won't use any crazy analogies here, like "things might erupt," or "danger could be bubbling below the surface," mostly because we wouldn't do something like that. But we don't need metaphors mostly because today we're talking to Dr. Rosaly Lopes, senior researcher, vulcanologist, and a TIAA client who speaks to us for a few minutes about her career, volcanoes, and how she's actively sought out annuities to fund her retirement. Why would she use them? What is a vulcanologist? What career advice does she have for people just starting down the path toward meaningful work? We'll ask all of those questions and more on today's show. And in our headlines segment, have you ever made bad financial decisions after a few drinks? (and we're definitely not referring to the kind the comes with free refills....). Maybe you ordered too much food, or indulged in some of Amazon's two-day shipping for "just a few" items you've had your eyes on? While breaking your diet for a night or ordering a new board game aren't exactly the biggest mistakes to make in the world, but how about drinking while you're on the job? While that may seem like duh moment for most of us, one exchange has recently made it official, telling workers to stop drinking on the job. Which business? Of course, it's a financial business...which is why we're talking about it today. Plus, in our second headline, scammers have ramped up schemes against people with medical bills. We'll cover 7 red flags to watch out for, and in a triple threat headlines segment today, we'll discuss one piece that proves how difficult it is to predict interest rates. It turns out even the brightest among us who study the market full time can't get it right. Later, after we take some time for Doug's specially themed volcanic trivia, we'll throw out the Haven Life Line to Mike, who's been thinking about exchange-traded funds. Should Mike have any concerns about using ETFs in his Roth IRA instead of mutual funds? After we're through discussing ETFs, we'll tear open a letter from Brian, who wants some fact-checking on his backdoor Roth conversion plans. Thanks to Experian for supporting Stacking Benjamins. Boost your FICO score instantly for free. Boost is only available at Experian.com/sb
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Comments (4)

Ari Fellman

this time, they recorded with Annette...

Jul 8th
Reply

Joe Reed

Katie didn't have a very good recruiter

Mar 21st
Reply

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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