Why The Joneses Will Bankrupt You (plus an intro to the WELA app)

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

🗓️ 15 June 2018

⏱️ 73 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

On Wednesday we talked about what goes into picking the right financial advisor. You'd want to be sure of the person your entrusting with your financials, after all. But would you trust a financial advisor who's a couple of decades younger than you? We're asking that same question to our wonderful panel of contributors: special guest Shannon Mclay (from Financially-Blonde.com), Len Penzo (from LenPenzo.com), and Paula Pant from Afford Anything. PLUS, in a second Friday headline, living next to a lottery winner makes YOU more likely to go broke. What's up with that? And halfway through the show we're taking a break to talk to Matt Reiner from Wela, the all-in-one budget app. Wela can track your daily spending, group transactions, and the app's AI, Benjamin, can answer any questions you may have about your money. Of course, we'll answer a three-oh call for help to the Blooom hotline. Julianne works on commission... how can she make a useful budget on a variable income? Also, should we be waiting on the market to go on sale before we buy more stocks? Thanks also 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 Honey for supporting Stacking Benjamins. Signup for FREE with joinhoney.com/SB Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0	Do you hear that? It might sound like nothing to you, but it's actually the sound of nuclear, wind and solar energy.
0:11.0	At EDF, we're busy generating more British
0:14.2	zero carbon electricity than anyone to help keep future energy
0:17.7	cost down for everyone and help cut UK carbon emissions to nothing.
0:21.8	Sound good to you? Find out more about our
0:24.9	zero carbon generation at EDF Energy.com slash Help in Britain.
0:28.6	Hi I'm Eric Rosenberg from Personal Profitability and when I'm not busy hustling my Tuckus off, I am Stackin'
0:37.0	Benjamin's. Live from Joe's mom's basement, it today we're celebrating Father's Day weekend on the show.
1:01.0	I'm headed to the carnival to look for my dad but you you lucky
1:04.5	dog you're listening to today's great show on today's great show on today's
1:08.4	podcast would you hire a younger advisor will detail one person who did and loved it.
1:14.0	Plus, we'll talk about keeping up with the Joneses and how it might be bad for your health.
1:19.0	Joining us to talk about this and to answer a Bloane call for help, we welcome our friend from the Financial
1:25.7	Jim and the Martinez and your Money Podcast, Shannon McLean. Plus from this podcast, oh gee!
1:34.0	But of course that's not all at the halfway point we'll say hello to Matt Reiner from Wella
1:39.0	about the Wella Financial app and their brand new money management app extension,
1:43.9	Benjamin, great name, dude.
1:46.6	And now, because what's Father's Day
1:48.9	without a father of two at the helm,
1:51.3	Joe Saul Seyhan. And I'm so happy it's Father's Day weekend. I thought that meant I got the day off. But no, I'm working on a Friday. It's a long weekend here in the basement apparently, but the good news is I've got great help with me
2:15.1	So let's introduce to the microphone across the table from me the one and only oh g
2:20.7	Do you kind of feel that Father's Day is the trap. It's like on Mother's Day, you got to get rid of the
	...

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