Financial Freedom Podcast

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

As we approach the summer months, many people start thinking about shopping for a home. The weather is warmer, and it gives potential buyers an opportunity to see the whole home, both inside and out. But is it a good idea to buy a home in this real estate market? Would it be better to rent instead? That's why in this episode of the podcast I wanted to discuss the ins and outs of the process, along with tips on how to find the home of your dreams. In this episode you will learn: - How to make the decision to rent or buy - 9 Realtor's tips to homebuyers - 8 tips to homebuyers from a mortgage professional

Where you live can have a significant effect on your financial freedom, whether it's during your working life or in retirement. It can influence cost of living, opportunities in your careeer, or resale value when you are ready to downsize. That's why in this episode of the podcast I talk to Ryan Frederick about how he sees where you live and how location, location, location means so much more to your financial well-being. In this episode you will learn: - How being in the wrong place can be isolating - How climate change could affect where you relocate to - How your location could increase or decrease cost of living and financial freedom

The current economy has people stressed out with inflation and talk of an impending recession. As a result, the process of saving for retirement, already seen by many as a slog and a struggle, can seem even mre difficult and anxiety-inducing. That's why in this episode of the podcast I talk with Dawn Dahlby, who is not only a Certified Financial Planner, but also a behavioral financial advisor. From her we can learn how to find financial peace and happiness in troubling economic times. In this episode you will learn: - How to relieve the anxiety of uncertain financial times - Why saving for retirement doesn't have to be a struggle - How "spending freedom" can change your financial outlook - How to cultivate a positive financial mindset

Saving and investing for retirement has always been challenging, but in the turbulent economic times we've been living in lately, it can be even tougher. Inflation and talks of a recession have made many people fearful of the future and whether they will be able to make their investment goals this year. That's why in this episode of the podcast I wanted to discuss some tips by the experts on what you can do to be sure you are staying the course and doing what you need to do to reach your ultimate goal: a comfortable retirement! In this episode you will learn: - How Moving in Retirement Can Help - How Much Savings Will You Need - How to Recover From 2022 Losses - Retirement Investment Tips for Women - Spousal IRAs  

According to Divorce.com, the U.S. has the highest divorce rate in the world at 40-50%, although the Census Bureau report suggests that the rate dropped from 2009 to 2019. 60% of second marriages and 73% of third marriages end in divorce. Divorce is also expensive, both financially and emotionally. But beyond the lawyers fees, there are many hidden costs that can wreak havoc with your personal finances and which need to be considered. That's why in this episode of the podcast I wanted to discuss those, so that if you are getting divorced or considering it, you can take them into consideration and maybe minimize them. In this episode you will learn: - How to Prepare for the Hidden Costs - "The Worst Offenders" of Hidden Costs - The Impact on Financial Planning

There's a lot in the news these days on personal finance, including a possible new repayment plan for student loans, dealing with marital "financial incompatibility," and new laws pertaining to retirement savings. With all of this going on, it can be hard to keep track and get all of the key facts. 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 new year. I hope they can help you avoid a tax audit, reduce financial conflict with your spouse, and make for a better retirement savings plan. In this episode you will learn: - About a New Student Loan Repayment Plan - How Much Your Refund Could Be - About Resolving "Financial Incompatibility" with Couples - Status of the Federal $10,000 Deduction Limit for State & Local Taxes - Four Reasons the IRS May Flag Your Return for Audit - About a New Retirement Law That Increases Tax-Free Savings Options

With tax season having officially started on January 23, the IRS is expecting taxpayers to file more than 168 million returns, most of them before the April 18 deadline. But depending on how involved your finances are, this can be a rather stressful time. That's why in this episode of the podcast I wanted to talk about the preparation process for your 2022 tax return in an effort to relieve at least some of that stress. Here's what you need to know about preparing it, filing it, and some deductions you might have missed. In this episode you will learn: - What You Need to Know When Filing Your Tax Return - Tips for Making the Filing of Your Return Easier - Important Things to Need to Know - About Tax Deductions You May Be Missing

Positioning yourself for financial freedom early on in life is the best way to do it, and creates a greater chance of success. However, this can be done at any age through discipline and planning. Certified Financial Planner Eric Brotman has written several books on the process and helped countless people to achieve their goals. That's why on this episode of the podcast I wanted to talk to Eric about his books, his experience, and the advice he gives to his clients to help them to build their path to financial freedom. In this episode you will learn: - How to Pay Yourself First and Ensure Retirment Savings - How Saving for Retirement in Your 20s is Easier Thank You Think - About the Importance of Tax Planning in Your Retirement Portfolio - How to Leverage Your 401k If You Have Student Loans - How to Pay Down Debt Through Financial Triage

2022 was a rough year with inflation and recession rearing their ugly heads and causing us concern for our financial freedom (at least in the short term). But gas prices have dropped significantly, and recession has not been officially declared, so there's reason for hope in the new year. That's why in this episode of the podcast I wanted to talk about what the financial and economic experts are saying, whether you should listen to them, and what you should do to prepare your finances for the 12 months ahead. In this episode you will learn: - What the Experts Are Saying - Whether You Should Listen to Them - How to Prepare for the Year Ahead  

In Episode 128 I talked about the divorce of Bill & Melinda Gates, the fact that they didn't have a pre-nuptual agreement, and when these agreements might be a good idea. Although they are of particular importance in community property states, here in New Jersey and other equitable distribution states, it still might be a good idea. But what if you got married without a prenup? What happens then? Is it too late to agree on certain issues, such as the division of property, alimony, and child custody? Maybe not. Which is why in this episode of the podcast I wanted to talk about something called a post-nuptual agreement, what it is, what it does, and whether you should think about having one. In this episode you will learn: - What a Post-Nuptual Agreement Is - How it Differs from a Pre-Nuptual Agreement - Who Should Have One - Circumstances That Could Trigger the Need for One - The Pros and Cons

The Christmas of 2021 presented its own challenges. Shipping delays and supply chain bottlenecks made it difficult for stores to keep items on their shelves, which led to less than stellar deals and long delivery times. I talked about all of this in Episode 141. But this Christmas is different and requires a different strategy. You, as the consumer, are more in the driver's seat when it comes to getting deals and getting your gifts in time for the holiday. That's why in this episode of the podcast, I wanted to talk about shopping tips for the current situation to help you have the best holiday ever! In this episode you will learn: - Money Saving Shopping Tips - How to Make a Holiday Shopping Budgett - How to Do Your Whole List for $500 - Holiday Shopping for Busy People

Becoming permanently disabled can be devastating to your personal finances and seriously challenge your financial freedom and independence. In Episode 28 I covered how to deal with this if it's a result of a job-related injury. But what if it's for some other reason, like an auto accident or a debilitating disease? That's why in this episode of the podcast I bring back attorney Sam Gaylord to talk about how to get disability benefits, where you can get them, how you qualify for them, and how they can help you maintain your financial freedom. In this episode you will learn: - What disability benefits are available from Social Security - What the requirements are to get those benefits - How you apply for them - How do pension disability benefits work - What pensions offer them - How these disability benefits interact with each other

Financial freedom and independence can be achieved by diligently implementing proven strategies and tactics that will get you there. But if you don't have the right beliefs about money, it will be difficult, if not impossible to be successful. I discussed money mindsets in Episodes 34 through 36, but thought it was time to discuss it again. That's why in this episode of the podcast I talk with personal finance coach Derrick Kinney who has some great ideas, thoughts, and stories about having good money beliefs and how to get past the bad ones. In this episode you will learn: - How to keep fear of making an investment mistake from holding you back - How to let go of money fears and mindsets from your childhood - That you can still start investing for retirement in your 20s  

With issues like inflation, recession, and student loans being hot issues this Fall, there are lots of items in the news discussing them. People are concerned with the rising cost of living, salaries at their jobs that might not be tracking with it, and student loan debt that they are struggling to pay, if they can afford to pay them at all. That's why in this episode of the podcast I wanted to do a roundup of some of the stories in the news that discuss these issues in hopes that the information they provide will help you navigate the current financial landscape. In this episode you will learn: - How to Know Your Worth in the Job Market - What to Look for in Your Credit Report to Help Increase Your Score - How to Save on Groceries as Food Prices Soar - How to Prepare for a Recession - What To Do If Your Student Loan Forgiveness Application is Audited

With the pandemic essentially over with no more lockdowns of large gatherings, more and more people are setting dates and planning weddings. In Episode 96, I talked about getting your finances ready for marriage. But what about getting Ready for the Big Event itself? Weddings cost, on average, $20,000 at least, even before you pay for the guests at the reception ($70 per guest, average, so 100 guests would be another $7,000). This is a big expense before starting a life together. That's why in this episode of the podcast I wanted to talk about how to have a great wedding without mortgaging your future together! In this episode you will learn: - The Right Mindset for Wedding Planning - How to Set a Budget for the Wedding - Tips for Negotiating with Vendors - Tips on Saving Money from the Flowers to the Reception