How Much Cash Buys Financial Independence? (Your Letters)
The Stacking Benjamins Show
Joe Saul-Sehy and Josh ‘OG’ Bannerman, CFP
4.4 • 2K Ratings
🗓️ 29 October 2018
⏱️ 69 minutes
🧾️ Download transcript
Summary
We're kicking off the week talking about new jobs, annuities, paying down your mortgage, and spreadsheets....that's right, it's our favorite episode: we're answering YOUR letters. Joseph's got his first "big boy" job as an engineer after college. He's already got his eyes set on financial independence, what steps should he be taking to get there? Next, Gwen wants to know the reasoning behind not paying off your mortgage early. Wouldn't it be better to put $500 towards the mortgage each week rather than investing that amount? We're also answering a numbers question from Axel, who has a big question about calculating the end number for retirement. Based on the equation, Axel should have a lot more money than he actually does. What does that mean 40 years down the road?
Plus, in today's headline segment, is FAANG out the door? We're shining the spotlight on one recent piece that says we should be looking at "MAAN" stocks to lead us into the future. What new companies comprise MANN? Is it a good idea to change your way of investing? Then, in our second headline, insurer Ohio National is rolling out some big changes by eliminating advisor compensation on variable annuities. We'll talk to Lauren Minches from Blueprint Income for her take on why so many companies are changing so much in the annuity business.
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Transcript
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| 0:00.0 | You know, I don't understand this podcasting thing. |
| 0:03.6 | How come you boys can't have those keg parties and chase the girls like all the other nice boys do? |
| 0:10.0 | Y'all are nerds. |
| 0:16.4 | Live from Joe's Mom's Basement, it's the Stacking Benjamin Show. |
| 0:30.6 | I'm Joe's Mom's Neighbor Dug, and today my crazy holiday calendar says it's national Hermit Day, |
| 0:36.9 | which is perfect because all I intend to do |
| 0:39.6 | today is hang out with you. You are so welcome. Today, the whole team is all about you because we're |
| 0:47.6 | answering your letters. We'll answer a question from Joseph who's just starting to save, one from |
| 0:53.2 | Gwen, who wants to know how to pay off her |
| 0:56.4 | mortgage early, and even one from Axel, who wants to nerd out with the spreadsheets. |
| 1:03.1 | Well, that's an interesting transition from Guns and Roses. |
| 1:05.9 | Huh. |
| 1:06.3 | Well, that's not all. |
| 1:08.3 | There's big news happening in the world of annuities, |
| 1:13.9 | and we'll talk to one of our favorite annuity experts. |
| 1:17.7 | From Blueprint Income, we welcome Lauren Minches. |
| 1:21.7 | And now, two guys who could both be professional hermits because they definitely do not like to talk. |
| 1:24.7 | No, Joe and O JhaJ-J-J-J-J-J-G. |
| 1:36.1 | Is he trying to say we're chatty? |
| 1:38.0 | I was thinking, when he says Hermit, I immediately think crab legs. |
| 1:41.4 | Because I think hermit crab, and I go right to crab, and I'm going, all you can eat crab. And I think back of crab and I go right to crab and I'm going, all you can |
| 1:44.9 | eat crab. And I think back of a place I used to go for 19 bucks when I was in college on Tuesdays. |
... |
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