617-Friday Q&A: Giving Money to Poor People, Contributing My Salary to my Wife's 401(k), Protecting Investment Accounts, Buying Term Life Insurance while FI, etc!
Radical Personal Finance
Joshua J. Sheats, MSFS, CFP, CLU, ChFC, CASL, RHU, REBC, CAP
4.2 • 1.9K Ratings
🗓️ 11 January 2019
⏱️ 68 minutes
🧾️ Download transcript
Summary
1:45 - How can I give nice gift to people who are poorer than I am without creating a power imbalance?
15:20 - Can I contribute my salary into a 401(k) plan for my wife in order to maximize our retirement account contributions?
28:05 - How can I protect my non-qualified investment accounts that are exposed to the claims of creditors?
44:30 - I don't "need" term life insurance because I'm financially independent. Should I still buy some?
51:00 - I'm following Dave Ramsey's baby steps and am almost out of debt; should I store up my emergency fund in a Roth IRA?
56:00 - I want to buy an investment that will pay for my new car instead of just burning all my cash on the car. How do I do that?
(For the context of any time-relevant comments relating to current events, this Q&A was recorded on 12/19/2018.)
Transcript
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| 0:00.0 | Make Match days easy with Google Pay. |
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| 0:15.6 | Today in Radical Personal Finance, it's live Q and day. And Welcome to Radical Personal Finance the Show dedicated to providing you with knowledge, |
| 0:38.1 | skills, insight and encouragement you need to live a rich and meaningful life now |
| 0:41.7 | while building a plan for |
| 0:42.7 | financial freedom in 10 years or less. My name is Joshua I am your host and |
| 0:47.1 | today on the show we do live Q&A. You get to call me up, ask me any question, |
| 0:52.2 | make any comments, we could talk about whatever you want to talk about. |
| 0:57.0 | That's what a live Q&A show means. A couple of quick notes as we begin these shows or as I begin today's show. |
| 1:11.4 | These shows are entirely driven by you and what you would like to |
| 1:14.1 | talk about which means sometimes they work out really well and sometimes they don't. I do my |
| 1:18.7 | best to keep the content moving along I'll do my best to deal with the calls but I just simply take them in the order that they come in I don't pick and choose I don't sell some people they can't call in I just take them in the order that they come in so a couple of notes you will notice if you look in the notes on your podcast listening device. |
| 1:35.4 | You will notice that I have put into those notes the different questions and topics along with |
| 1:40.4 | some time stamps. |
| 1:41.6 | So if there's a call that's just simply not |
| 1:43.2 | interesting to you and you want to just skip forward, go ahead and feel free to do that. |
| 1:46.7 | Won't offend me one bit, but I do my very best to keep things concise and focused |
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