Building Your Financial Dream House with Greg Powell (SB RWD 112)

The Stacking Benjamins Show

Joe Saul-Sehy and Josh ‘OG’ Bannerman, CFP

Education, Business, Money, Investing, Financial Planning, Cfp, Personal Finance, Retirement

4.4 • 2K Ratings

🗓️ 2 September 2020

⏱️ 61 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

What does your financial dream house look like? Financial planner Greg Powell says that he always has trouble convincing people to complete a financial plan because it sounds like a ton of work. But a financial dream house? That’s a much easier sell, and he’s going to help you sell yourself on that concept in today’s episode. We’ll talk about where investments fit into the overall structure (not as far up the priority list as you’d think), how to work through building your “plans,” and then how to build a team that effectively helps you finally create the “structure” of the house.

Happy Hump Day! We're keeping our rewind week going strong with today's show featuring our time with Greg Powell. We thought his unique approach to financial planning was interesting then, and we think it's interesting now. Also from our original show notes:

On the Haven Life line, Garrett asks about company stock inside of his 401k. Should he dump it? If you have company stock inside of YOUR 401k, this’ll be helpful for you…and if you own LOTS of one company’s stock, you’ll also like this segment. We also answer a letter from Andrew, who wonders about his target date fund. As you know (if you’ve listened to us before), we’ve been pretty critical of target date funds. What is his next best move? Do YOU have a target date fund? Maybe today’s letter segment will help you, too!

Of course we have Doug’s trivia, some bad jokes, and lots more….

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Transcript

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0:00.0	Pre-recorded from Joe's mom's basement, it's a rewind episode of the stacking Benjamin show.
0:05.2	Hey everyone, I'm Griffin the intern, or like the neighborhood door-to-the-door mask salesman likes to call me the Fintern.
0:11.6	Finance. Pretty boring stuff, am I right? Anyone? No? Well, that's a lesson learned for me. I should have never
0:18.8	violated rule number one of comedy. Know your audience. But do you know what I would say if I weren't talking to a much of money nerds whose crazy idea of a Friday night is a bottle of wine, a darkboard covered with ticker symbols, and a... Where was that going with that? Oh, right. So, personal finance can be pretty daunting for a lot of new investors. How does someone go from racking up debt one month to creating a plan in the next one?
0:40.3	Financial planner Greg Powell had seen one too many people skip out on creating a solid plan
0:44.3	and decided to come up with a new approach that he found works much better, having people
0:49.3	create their financial dream house.
0:51.3	I won't give away too much, but I think you'll like his approach just as much
0:54.5	as I do. Plus, the guys will cover what to do if you have company stock inside your 401k,
0:59.7	and, in a question that remains timeless, the guys will answer a listener letter about target date
1:04.5	funds. This episode originally released in 2017, so ignore any giveaways or investment advice you here. Fintern out.
1:16.3	Hello, my name is Enigo Montoya. You kill my father. Prepare to die.
1:28.5	Live from Joe's Mom's's basement, I'm Joe's mom's neighbor Doug, and this is the Stacking Benjamin's show.
1:39.8	Turn up the AC, make some bicles, and put on the shades because today is officially the first day of summer.
1:52.1	What does summer remind everyone of?
1:54.2	A beach house.
1:55.4	And our guest today is going to help us make our financial plan the best beach house ever. Certified financial
2:02.3	planner Greg Powell. Pop open a few cold ones because we also have some headlines on where
2:08.2	to retire. We'll answer your letters and throw out a Haven Lifeline to Garrett who wants to know
2:13.3	about 401k options and wash it all down with some of my amazing beach-related trivia.
2:19.7	Now here's two guys who are a couple of bomb pops themselves, Joe and OJJJJJJJ.
2:32.6	It's very awkward right now. Why is it awkward? Doesn't this seem a little awkward right now? Because you're a bump-up? That's one reason. Yeah. Hey, everybody. I am Joe Sal C. High Average Joe Money on Twitter. And welcome back to another episode of the Stacking Benjamin Show. You found us again. And man, we're going to deliver the goods today, OG, because we're constructing a beach
	...

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