8 Money Mistakes Middle Class People Make (plus an intro to Blast)
The Stacking Benjamins Show
Joe Saul-Sehy and Josh ‘OG’ Bannerman, CFP
4.4 • 2K Ratings
🗓️ 24 August 2018
⏱️ 65 minutes
🧾️ Download transcript
Summary
As much as we don't like to admit it (and let's face it, Doug never will), we're not perfect here in the basement. We can mess up and make mistakes, just like anyone. But not all mistakes are created equal. Forgetting to start the dishwasher? Yeah, that's not the end of the world, but what about financial mistakes? A small one might mess up your weekend... but a big one could spell disaster. That's why today we're covering (and sharing some of our own) 8 mistakes the middle class is making with their money (a piece written by Holly Johnson for The Simple Dollar). Joining us today our special guest, from Rich Life Advisors, is Beau Henderson. Also joining in the discussion are our regular roundtable contributors, Paula Pant (Afford Anything) and Len Penzo (Len Penzo dot com).
Midway through the show we'll take a little break and talk to the co-founder and chairman of Acorns, Walter Cruttenden, about his new brand new venture, an app that mixes two unlikely ideas: video games and saving money. When we first heard about Blast we were intrigued by the possibilities, so we're excited to bring it to your attention, too.
And of course, we'll still have time for Doug's trivia and also to answer a listener question from Dan, who is looking for suggestions. How does someone in retirement create a more defensive portfolio? What types of investments should they consider adding to the mix?
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Transcript
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| 0:00.0 | Hey yo, this is Dave from the New York budget.com. |
| 0:12.0 | Texarkana, where you at? |
| 0:16.0 | Joe plays board games all the time. |
| 0:19.0 | O.G. still works the daily grind. |
| 0:21.6 | Roundtable views don't always align, but help financial peace of mind. |
| 0:26.6 | Suzanne's HR skills for the win. |
| 0:28.6 | Doug is in Mont's Cookieton. |
| 0:30.6 | P.K.'s attacking gin again. |
| 0:33.6 | All on stacking Benjamin's. |
| 0:35.6 | Stack. |
| 0:36.6 | Stack. Stacking Benjamin's Stack Stack Stack Stack Stacking Benjamins Kicking it all the way from the 212 to the 903 430 430. Live from Joe's |
| 1:02.4 | Moms basement, it's the stacking |
| 1:04.8 | Benjamin show. |
| 1:05.6 | I'm Joe's mom's neighbor, Doug, and I'm buying my first ETF. |
| 1:18.6 | I know, don't want to be too fast about this stuff, but if you've listened to this show, |
| 1:23.7 | you already know I'm a trailblazer. |
| 1:25.6 | And speaking of Trailblazers here today to help us talk about eight mistakes the middle class is making with their money, we welcome from the Rich Life Show, Bo Henderson. |
| 1:36.3 | And also from afford anything, say hello to Paula Pant. |
| 1:40.7 | And finally, from Len Penzo.com, Omarosa-Madagalt Newman. |
| 1:46.2 | I'm just kidding. |
| 1:47.7 | She's over in the corner taping this whole conversation. |
| 1:50.6 | She doesn't have time to talk to us. |
... |
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