Your Money or Your Life? With Vicki Robin (SB RWD 111)

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

🗓️ 31 August 2020

⏱️ 70 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Most of us have been at home a lot more than normal, which led us to realize that this week may be high time for a discussion about "stuff." Too many of us have too much clutter. Clutter not just in our house, but in our minds, in our thoughts, and in our goals. That's why today's episode is super important to us.

Happy rewind week! While Joe and OG are hanging up at the beach sipping mojitos (okay, maybe not really), I’m turning back the clock to visit some of our favorite past interviews. We're kicking this week off strong with one of our favorite interviews in the catalogue: Vicki Robin, author of bestselling book, Your Money or Your Life. You can read our original show notes below:

Why are you saving money? How much joy are you receiving from that “stuff” you own? You may rethink your financial plan after today’s show, because our guest is the co-author of the HUGE bestselling book, Your Money or Your Life. Vicki Robin helped shape the financial independence/retire early movement, and she’s on her way down to the basement today to talk to us about re-examining your beliefs around your life and your money. Your money or your life, indeed.

In our headlines segment we’ll talk about student loans with Robert Farrington from The College Investor. He’ll talk about how over 3,000 people just took part in an event to pay off a TON of student loan debt. We’ll share best practices, how best to apply to lower interest rates on your debt, and how to pay them down in a way that makes sense for your situation. We’ll also discuss the new SEC proposed fiduciary rule. Is THIS finally the rule we’ve been looking for? Will it replace the mostly knocked-down rule from the Department of Labor? We’ll review the rule and discuss what you need to know about it on today’s show. Plus, we throw out the Haven Life line to Karen, who’s contributing to a brand spankin’ new health savings account. How should she best use it? We’ll share how these plans work on today’s show. We’ll also answer another listener letter, throw out Doug’s trivia question, and watch him try to juggle….one ball.

Thanks to MagnifyMoney.com for sponsoring Stacking Benjamins as well. 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.

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Transcript

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0:00.0	Pre-recorded from Joe's Mom's Basement, it's a rewind episode of the Stacking Benjamin Show. Hey everyone, I'm Griffin the Intern, or like my cross-country Uber driver likes to call me, the Fintern. Having Monday, Stackers, and good luck to everyone starting their first day of class today. I should have been starting, but I've already been to four towns in three states today just to find out where Joe's Mom's Basement has moved. I can't say I'm sure where I'm at right now, but I'm loving the cactuses. But here's one thing I do know. If you haven't heard the guys interview the woman we call the mother of the fire movement, financial independence retire early, that is, you're about to. Her name is Vicky Robin, and her book, Your Money or Your Life, has been changing lives for years. Buckle up for your own change, because whether you want a new financial mindset, a look at a different perspective, or you're just getting into finance for the first time, you'll find our interview has a little something for everyone. Of course, we'll also have headlines, a listener voicemail, and a letter from a guy who wants to know what can be done about his company attempting to recoup an overpayment.
0:58.2	Yeah. Remember, this is a rewind show from a couple of years ago, so disregard any investment advice or giveaways.
1:04.8	Enjoy, Fintern out.
1:19.6	In a world, we're overspending, debt, and keeping up with the Joneses rules us all, where the voices from the merchants, and credit companies lured over the common man.
1:25.6	Out of the darkness, like a beacon of hope,
1:29.7	comes a new voice, a voice that's rich and creamy,
1:33.5	like your favorite butter, and delicious,
1:36.4	like cheeseburger pizza on your diet cheat day.
1:40.5	It's the Stacking Benjamin Show.
1:43.2	The Stacking Benjamin Show.
1:54.4	Live from Joe's mom's basement, it's the stacking Benjamin show.
2:06.9	I'm Joe's Mom's Neighbor, Doug, and today is National Juggling Day.
2:08.3	I've been practicing all day.
2:11.9	Check out how I can juggle all the great stuff we're doing on today's show.
2:18.5	First, we welcome the co-author of the Financial Classic Book, Your Money or Your Life, Vicky Robin.
2:24.1	We'll also talk about a movement that helped people pay down tons of student loan debt from the college investor we welcome Robert Ferrington. We won't stop there, though. We'll throw
2:30.3	out the Haven Lifeline to Karen, who wonders about how best to use her health savings account, and we'll answer a letter from Jason, whose employer sent him too much money.
2:40.9	Should he send that back?
2:42.7	Jason, yo, dude, over here.
2:44.8	Little help?
2:45.4	Little help over here, Jason?
2:46.8	Okay.
	...

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