Ask HTM – Looking to the Stars to Save, High Price to Pay for Financial Advice, & Setting up a Roth for a Minor #1141
How to Money
iHeartPodcasts
4.6 • 3.2K Ratings
🗓️ 18 May 2026
⏱️ 53 minutes
🧾️ Download transcript
Summary
We’re kicking off the week by answering your listener questions! And if you have a question that you’d like for us to answer on the show, we’d love for you to submit your own via HowToMoney.com/ask , send us your voice memo. Regardless of how random or bizarre you might think it is, we want to hear it!
1 - Kid IRAs: How do I go about setting up a Roth IRA for a minor?
2 - Advisor fees: By my math, most folks are paying closer to 20-25% for financial advice!
3 - Pension credits: Should I spend $50,000 to purchase teacher service credits in order to boost my pension?
4 - US Mobile: I’m considering switching to the new Starlink home internet… good idea?
5 - Rent vs own: Why don’t y’all ever talk about the nightmares associated with renting?!
Want more How To Money in your life? Here are some additional ways to get ahead with your personal finances:
- Credit card perks: Check out our favorite credit cards that we use to maximize rewards and optimize our spending.
- Other money nerds: Find a thriving community of fellow money nerds by joining the HTM Facebook group!
- Newsletter: Sign up for the weekly HTM newsletter. It’s fun, free, & practical.
- Money Gears: knowing what to do with your money is crucial to your personal finance journey.
- MG7: and maybe you’re well on your way to financial independence but you’re looking for some financial reassurance, that’s when heading over to HowToMoney.com/Advisor and getting matched with a highly vetted financial advisor makes sense.
During this episode we enjoyed a Whippersnapper by Two Tides Brewing! And please help us to spread the word by letting friends and family know about How to Money! Hit the share button, subscribe if you’re not already a regular listener, and give us a quick review in Apple Podcasts or wherever you get your podcasts. Help us to change the conversation around personal finance and get more people doing smart things with their money!
Best friends out!
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Transcript
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| 0:00.0 | This is an I-Heart podcast. |
| 0:02.6 | Guaranteed Human. |
| 0:04.0 | Welcome to How to Money. |
| 0:05.6 | I'm Joel. |
| 0:06.2 | And I am Matt. |
| 0:07.5 | Today, we're answering your listener questions. |
| 0:09.4 | Thank you. That's right, buddy. Welcome to How to Money. This is the podcast where we talk about personal finances. |
| 0:33.2 | Are you welcoming me? Because I appreciate that. Sometimes we talk to each other. I'm directly speaking to the listeners out there who may have never listened to the show before. |
| 0:41.8 | This is a personal finance podcast. |
| 0:44.8 | And you know that by the fact that it's called how to money. |
| 0:47.9 | We used to not call it how to money. |
| 0:49.0 | We used to call it poor not poor. |
| 0:50.4 | Yeah, which was not very searchable. |
| 0:51.9 | I figured it was also easier to like know what you were getting into when it was called |
| 0:55.9 | how to money. |
| 0:56.6 | Yeah, people know we're going to talk about personal funding. You know what? I got actually, here's a, I got a little question for you. Well, normally I tease. Okay, so we're going to talk about a listener who's looking to Starlink to save money. gotta give folks a little taste of what to expect in this episode, Regul. |
| 1:10.3 | Another listener is asking about the price that he's paying for good financial advice, |
| 1:16.5 | whether or not it's too much or not. |
| 1:18.8 | We'll discuss IRAs for minors, plus other topics during the episode today, buddy. |
| 1:23.8 | But on the note of Poor Not Poor, that's back when we did place more of an emphasis on the beer. And actually, that's one of the things we took feedback from listeners where they're like, man, less of the craft beer talk. Because back in the day, we used to talk about it on the front end a little bit more as well. And it's more just like a way of setting the stage a little bit as far as the kind of conversation |
| 1:44.4 | that we're having. We just like to have a good time, enjoy life in the process. And make it approachable, right? Like, hey, you're talking about, you're hanging out with a buddy. A nerdy subject, but over a good beer. And hey, like, that's a better way to tackle it than reading a nerdy book with a monocle on. Exactly. But on that notes, I've got an alcohol-related question for you. What do you think about, and this is something I've, that folks will talk, well, Scott Galloway, this is something that he talks a decent bit about too. But he thinks that the legal drinking age should be lowered from 21 to age 18. And a lot of times folks will make |
| 2:19.8 | the argument, they're like, well, if you can die for your country, you ought to be able to enjoy a beer, |
... |
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