471-Friday Q&A: What's the Best Type of Retirement Plan for my Wife's Side Business, How Can I Help My Sister-in-Law Who is Asking me for Financial Advice, Should I Pay Off My Debt as Fast as Possible or Save Up and Pay it Off in Large Chunks?
Radical Personal Finance
Joshua J. Sheats, MSFS, CFP, CLU, ChFC, CASL, RHU, REBC, CAP
4.2 • 1.9K Ratings
🗓️ 21 July 2017
⏱️ 52 minutes
🧾️ Download transcript
Summary
On Fridays, I host a Q&A call. Patrons of the show are invited to call in and ask any question they want!
Today, we cover:
- (1:57) What's the best type of retirement plan for my wife's side business? (SEP IRA, SIMPLE IRA, Solo 401(k)?)
- (16:45) How can I help my sister-in-law who is asking me for financial advice?
- (30:20) Should I pay off my debt as fast as possible or save up and pay it off in large chunks of money?
Joshua
- Become a Patron of the show and gain access to future Q&A shows here: www.radicalpersonalfinance.com/patron
Transcript
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| 0:00.0 | It's Friday. We got the phone lines open. That means it's a Friday Q&A show. |
| 0:23.8 | This is the show that's dedicated to providing you |
| 0:25.4 | with the knowledge, skills, insight, and encouragement |
| 0:28.0 | you need to live a rich and meaningful life now |
| 0:30.3 | while building a plan for financial freedom in 10 years or less. |
| 0:33.0 | Friday is where you can call in and talk to me. |
| 0:35.0 | We can talk about your plans towards financial freedom, |
| 0:37.0 | talk about any comment or question that you want to talk about. |
| 0:40.0 | I show up with a calculator, a pen and a not bad, and we do our best to come up |
| 0:44.5 | together with some useful inputs. Friday Q&A shows are opened up to patrons of the show, about 250, 270 of you, something like |
| 0:58.9 | that, who support the show financially each and every month on a voluntary basis. You can sign up to |
| 1:04.3 | become a patron at radical personal finance.com slash patron would be thrilled if |
| 1:08.3 | many more of you would do that. I've struggled a little bit with the Patreon |
| 1:11.7 | program figuring out, I know we've rephrase it, I've struggled a little bit with the Patreon program, figuring out, |
| 1:13.2 | I don't rephrase it, I've struggled a lot with the Patreon program, trying to figure out |
| 1:16.8 | how to set things up and what to offer and what not to offer. I've really struggled with that. |
| 1:21.8 | It's been one of the things that I've found more challenging |
| 1:24.1 | to figure out what to do, what I can do. But one of the best things about it is it has worked out |
| 1:28.6 | really well for me to open up these Q&A calls to listeners who want to call in and by opening it up to |
| 1:35.8 | paying clients that allows me to keep the numbers small enough to be manageable |
| 1:40.9 | but it allows you any of you who are interested to gain access to these |
| 1:46.0 | Q&A shows. So today so if you'd like to call in for a future show just join on the |
... |
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