What Can We Learn From Day Traders? (Your Letters)

The Stacking Benjamins Show

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

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

4.4 • 2K Ratings

🗓️ 25 June 2019

⏱️ 67 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

We're barring the doors, closing the shades, and not answering any house calls because today we're answering YOUR letters. From paying down a mortgage principle or investing, to allocations, backdoor conversions, and even the best strategies on giving kids an allowance... this show has it all, thanks to YOU!

Plus, in our headlines segment, what can we learn from the life of a day trader? Longtime listeners can probably imagine the whole team's collective groan when we first broached this topic, but the more we discussed this headline, the more we found LOTS of great ideas that everyday investors can use. We love some of the lessons we can distill when learning what separates a good day trader from a bad one. In our second headline, we'll wonder out loud where is the future of financial advice is headed. We'll look over one report from Hartford Funds on important financial considerations you need to keep in mind and give our two cents while we're at it.

Later, after we take a break during Doug's trivia, we'll queue up a voicemail from Pete, who no longer works at a job with 401k access. What are his options for investing with tax benefits? Can he still max our his Roth IRA through a backdoor conversion?

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Transcript

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0:00.0	Hey, Stackers, good news. Because I was in Seattle last week, I didn't have enough time to tell you about our fantastic giveaway that OG and I have going on right now. Get this. You can bring a friend with you here in just a few weeks. July 15th is when you'll fly to Detroit.
0:24.3	We'll bring you from any place in the lower 48 states.
0:27.2	Stay at a hotel here a couple nights.
0:29.1	You get to hang out with OG and, dare I say it, even Doug.
0:34.0	How amazing will that be.
0:36.6	But the big reason we're bringing you to town is so you can see
0:39.9	the new playing with fire documentary. And if you're familiar at all with financial documentaries,
0:46.4	this is a big boy. So here's how you sign up. Head to stack you Benjamin's.com forward slash fire fire movie that'll give you all the details you fly in
0:58.2	Monday Tuesday you'll have lunch with as many of the Detroit area financial influencers as we can
1:04.3	round up including the stacky Benjamin's team and Scott Rickens the co-creator and star of the Playing with Fire documentary.
1:13.6	And then you'll attend the screening.
1:16.5	We'll also have a discussion afterwards, maybe have a little post-party fun.
1:23.7	And then on Wednesday, you fly you home.
1:25.0	Anywhere in the lower 48 states. That's the deal, guys.
1:28.6	Apologies to everybody outside the lower 48, but that's the best we're going to be able to do.
1:32.4	You have until Thursday at noon, tomorrow at noon, stackybenjamins.com forward slash fire movie.
1:38.8	All right, on with the show.
1:41.4	You know, I don't understand this podcasting thing.
1:45.2	How come you boys can't have those keg parties and chase the girls like all the other nice boys do?
1:51.8	Y'all are nerds.
1:58.3	Live from Joe's Bomb's basement.
2:03.3	It's the Stacking Benjamin Show.
	...

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