Who'll Help Me Build a Money Foundation? (with Rebecca Wiggins)

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

🗓️ 10 August 2020

⏱️ 72 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Sure, financial planners work with people, but many only work with you ONCE you have your act together and you're ready to begin working on big-money problems. What do you do if you're just learning how to set up a budget, get out of credit card debt, or save systematically? Today we'll tackle all of that with Rebecca Wiggins, the executive director of the Association for Financial Counseling & Planning Education, on how financial coaches (not financial advisors...that's something else!) help people like you set up a better financial life.

Plus, we don't know if you've looked lately at gold prices...but if not, BAM! It's through the roof. Should you buy some? In our headlines segment, we'll share a piece that Joe and OG just might agree with on the topic.... Also, LSU football star Joe Burrows has become a rich man after signing an NFL deal. However, this star says that he only plans to live off endorsements... and his dad says Joe can finally get out of his parent's basement. (Looks like Joe should have thought twice before signing a cash-packed contract). Is living in a basement bad? Should Burrows think twice before saving all that money? We'll have some answers and takeaways today.

After we break for Doug's trivia today, we'll finish up the show with the Haven Life Line. When the wealthy in-laws want to help finance your new house, do you take their money? How can you accept large sums of money without big tax implications? Should you accept a 6-figure gift from parents? We'll cover it all for Jim, who wrote in with his VERY first-world dilemma.

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Transcript

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0:00.0	Hey, I'm Rob Berger when I'm not rolling in the dough. That's right, I'm stacking
0:03.7	Benjolins.
0:09.6	Live from Joe's Mom's Bas Doug, and here's a question.
0:27.1	What do you do when you can't get any traction with your money?
0:30.8	Today, swooping in to help save your budget, we welcome the executive director from the Association for Financial Counseling and Planning
0:39.0	Education, Rebecca Wiggins. Plus, not only is there gold in them our hills, there's also
0:46.2	been a big change in gold prices. With the run-up on gold, should you add more precious
0:51.8	metals to your portfolio? We'll give you our take during the headline segment.
0:57.1	Later, we'll toss out the Haven Lifeline to a lucky caller, and don't fret.
1:02.0	I'll also amaze you with my amazing trivia.
1:06.7	Now, two guys who've probably gone in 100% on podcasting, it's Joe and O Jha,
1:15.8	Jha, Jha, Jee.
1:22.0	That was a grievous error when we decided to go 100% podcasting. Hey, everybody. Welcome to Monday. I am Joe Salcy. Hi, average Joe Money on Twitter. And to kick off another week across a card table from me, it's my good friend, OG.
1:39.0	Does it seem like it's just flying by?
1:41.7	August 10th. It's already the middle of August for crying out loud. The good news is Christmas is almost here. Ho, ho, ho. Good news. But isn't Christmas going to be just another day that ends in a Y? Isn't everyday Christmas? You could tell the kids today's Christmas and it would be the same shit. You're not wrong.
2:01.8	You're not wrong.
2:03.3	We got a great show today, man.
2:04.7	We've got Rebecca Wiggins coming down to the basement.
2:07.8	She leads, as you know, this huge group of people, OG, just looking for financial knowledge
2:13.0	and support, a foundation, the basics, financial coaches, people like our friends Lacey Langford
2:21.7	and Jen Hemphill, and man, we know a bunch of great financial coaches. She's the head of that
2:27.9	whole organization. So she's going to talk about, especially during these times of COVID,
	...

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