How to Avoid a Holiday Hangover
The Stacking Benjamins Show
Joe Saul-Sehy and Josh ‘OG’ Bannerman, CFP
4.4 • 2K Ratings
🗓️ 6 November 2020
⏱️ 104 minutes
🧾️ Download transcript
Summary
On today's show, we bring you a cornucopia of November financial topics! Is your rule of thumb going to leave you broke in retirement? We'll start off by talking about the nerd's updated version of the 4% rule and maybe throw in some advice explaining why generalized guidelines aren't the best investing strategy. Plus, in homage to our older roundtables, we'll give our contributors a few more headlines to chew on, including a new plan to push required minimum distributions to 75, AND our roundtable will cover the new college savings plan ranking system from Morningstar. Making today's super-show happen is our amazing team of contributors: Michael Anderson of the Big Idea podcast; Paula Pant from the Afford Anything podcast, and from our very own podcast, OG.
Halfway through the show, we'll FINALLY share our main topic, bow to avoid a holiday hangover. Joe and Belinda Rosenblum will talk about how to set up a strategy to make sure this is the year you finally are able to get ahead financially, or at the very least, stay afloat during the holiday season.
We'll finish today's show with some salacious gossip thanks to our question from Shane. He says that he loves our pieces on financial crimes, but what about the the less popular crimes? Shane wants to hear about daring financial crimes like money laundering and check kiting. Does our panel deliver? Yes! So make some popcorn, sit back, and enjoy this week's MagnifyMoney segment.
Of course, we'll always save some time for Doug. Think you know your sports history? You'll love Doug's question today.
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Transcript
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| 0:00.0 | I'm Liz, the chief mom officer, and when I'm not busy being the breadwinner of my family of five, I'm stacking Benjamins. |
| 0:11.0 | Live from Joe's mom's basement, Doug, and now that it's November, I think it's time for a Thanksgiving cornucopia of topics. |
| 0:33.6 | On our roundtable today, we'll talk about everything from the new and improved 5% rule, way better than the old 4% rule, the bipartisan plan to push required minimum IRA distributions to 75, and new college savings plan ranking systems from Morningstar. |
| 0:52.6 | To help us dig into this Friday feast, we welcome from |
| 0:56.3 | Marinanatha Financial, CFP Michael Anderson. And from the Afford Anything podcast, Paula Pant. And last |
| 1:04.9 | but not least, we'll get some help from the original guy, OG. Plus, as we near the holidays, how do you avoid a holiday hangover? |
| 1:14.6 | We'll talk about the reopening of our Making Money Easy course |
| 1:18.3 | with budget guru Belinda Rosenblum. |
| 1:21.8 | That's not a feast yet, you say? |
| 1:24.0 | Well, I'll also let you feast your ears on today's magnify money call and of course |
| 1:30.3 | I'll throw in some sports themed money trivia sound good yeah you're gonna be stuffed |
| 1:36.4 | and now a guy scouring the internet for the next great story it's Joe Saul |
| 1:43.3 | Siha. |
| 2:20.2 | And I think we got a bunch of great stories today for you. Hey, everybody. Welcome to Friday, or fray, his mom says here in the basement. I am Joe Salcii. Average Joe Money on Twitter. And across the card table from me, the man, the myth, the legend who's bringing the Friday, it's OG. Hey, so how about all those crazy election results, huh? Can we talk about the politics? I mean, who would have thought that? Just going to leave that one alone, my friend. Okay. We don't do that here. I'm sorry. I'd love to talk about that. But we got better stuff to talk about like the 5% rule. |
| 2:21.0 | Come on, man. |
| 2:22.1 | Oh, yes. |
| 2:22.9 | That's all we need. |
| 2:24.6 | The controversy. |
| 2:30.5 | He said it's 5% now. |
| 2:36.6 | We're going to talk about that and that voice you hear from an undisclosed location, |
| 2:40.3 | or is it disclosed yet? Have you disclosed yet where the hell you are? I have not not yet disclosed it. No. No, I'm still broadcasting from an undisclosed location. Yes. We, we know, |
| 2:45.7 | but we're not allowed to say. We've already had to sign the non-disclosure agreement. We'd have to pay tons of all, all $5 this podcast makes. |
... |
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