Is Too Much Debt Hampering Your Saving Discussions? (Your Letters)

The Stacking Benjamins Show

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

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

4.4 • 2K Ratings

🗓️ 21 January 2019

⏱️ 59 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

We're dedicating this episode to a very special guest: YOU. Our mailbag is overflowing, so today we realized it was time to devote a whole episode to answering your burning questions. Scott has cash left over after he pays bills and maxes out his regularly scheduled savings contributions... should he open up a Roth IRA? How should Laura prioritize her savings goals: pay down debt, add to retirement accounts, or build her emergency funds? Tyler has been recruited by his local Edward Jones agent. Should he begin his career with them? In our headlines segment, one recent piece asks the question, "Is your debt the driving factor behind your savings discussions?" We'll tackle why that's an issue, and how it can harm your long term plans. In our second headline we'll look at some changes coming this year to health savings accounts (HSAs). Later on, we'll throw out the Haven Life Line to John, who wants to know how to invest his lump sum. Should he dollar cost average over the next year or dump his stash of money into his account at one time? And don't worry... we'll still take some time for Doug's trivia. Thanks to MagnifyMoney.com for sponsoring Stacking Benjamins. MagnifyMoney.com saves users on average $450 when they compare, ditch, switch and save on credit cards, student loan refinancing, checking, savings and more. Check out MagnifyMoney.com for your savings. Thanks to Grammarly for supporting Stacking Benjamins. For 20% off a Grammarly premium account, go to Grammarly.com/sb. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0	I mean you're living in your mother's basement right in the blog on finance really you should stay off the computer son and get a job
0:30.0	Seriously Live from Joe's mom's basement, and on today's show's mom's neighbor dug and on today's show, pure letters. Should Scott open up a Roth IRA? Should Doug become a European
0:36.1	fashion model? Should Tyler become a stockbroker? Should Doug exclusively
0:41.5	wear loin cloths?
0:43.0	How should Laura prioritize her savings goals?
0:46.0	Should Doug become the next American Ninja Warrior?
0:50.0	We'll tackle all of that.
0:52.0	Throw out the Haven Lifeline, tackle two headlines, and top it all off with my incredible trivia.
0:59.6	And now two guys who are huddling around the microphone ready to record, it's Joe and OJJJJJJJJJJJJJJJJ
1:08.8	G.
1:09.8	It is freezing down here in the basement.
1:15.0	Hey there kids, welcome to another episode of stacking
1:20.0	vegements. I'm Joe See High, average Joe money on Twitter and here wearing his mittens is Mr.
1:27.2	O.G.
1:28.2	I'll say don't you have a fireplace down here?
1:30.2	Not in the basement.
1:32.4	How long you been here now what three weeks? Well I mean it's a lot
1:35.8	bigger than the old basement so I have it is it is a lot bigger than the old
1:38.9	basement. How are you man? Happy Monday. I want a campfire.
1:43.0	Any kind of fire?
1:44.0	A butane lighter, something?
1:46.0	Do you say, happy Martin Luther King Jr. holiday?
	...

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