Financial Freedom Podcast

Episode 198: Saving Your Home from Foreclosure with DJ Olojo

As a bankruptcy attorney, I help lots of people to save their homes from foreclosure by filing a chapter 13 bankruptcy to make catch-up payments on their mortgage. But there are other ways to do it. That's why in this episode of the podcast I talk to DJ Olojo about how he helps people to save their homes without filing bankruptcy. In this episode you will learn: - Telling Foreclosure Myth from Fact - About the Mortgage Bank's Foreclosure Playbook - Foreclosure Prevention Tactics - T...

Episode 197: A Discussion with Anti-Financial Advisor Chris Miles

There are many ways to save and invest for retirement (or just to build wealth) and most are recommended by traditional financial advisers. But sometimes it's a good idea to explore some non-traditional ways to do it that might be better suited to your situation. That's why in this episode of the podcast I talk to Chris Miles, a self-described anti-financial advisor who walks that road less traveled with his clients to help them reach their own financial freedom. In this episode you will...

Episode 196: Graduating College Debt Free with Jeannie Burlowski

The student loan crisis has made parents and students more cautious when it comes to taking out student loans. But even then, the average student debt is $30,000, which is a lot to owe fresh out of college with no job. But what if you could graduate debt free and into a job you love? To answer that question I talked with academic strategist Jeannie Burlowski on how it can be done! In this episode you will learn: - Strategies for when you're not in a position to save money - How to lev...

Episode 195: Achieving Practical Wealth with Curtis May

Achieving financial freedom means getting your personal finances in order, so that you are living within your means and have money at the end of the month. But to have true financial freedom long term, with long term goals like retirement, you have to have a financial plan. That's why in this episode of the podcast I talk with fellow personal finance podcaster Curtis May on attaining what he calls Practical Wealth. In this episode you will learn about: - Practical Wealth - Cash Flow M...

Episode 194: The Importance of Bonds in Retirement Savings

Stocks are a key part of any retirement savings portfolio. Their potential to grow over the course of your working life with a rate of return, despite ups and downs, that can't be beat by CDs or a savings account. But bonds are also important to a well balanced portfolio. To find out the particulars in this episode of the podcast, I bring back Certified Financial Planner Michael Karwic for a talk on bonds and how they can be key to a successful retirement.  In this episode you will learn...

Episode 193: Getting Your Best Financial Life with Anne Lester

As I've said in previous episodes, the earlier you start saving and investing for retirement, the better. As soon as you graduate with your degree and get a job, you should start on your path to long term financial freedom. But how do you get started? How do you put together a plan for retirement investment that will work long term? That's why in this episode of the podcast I talked with retirement expert Anne Lester to get answers to this question. In this episode you will learn about: ...

Episode 192: Personal Finance Tip Roundup

Financial freedom is a journey, not a destination. Even if you are in good shape now, it takes good habits and discipline to maintain it on into the future. Laws and financial circumstances can change, and you need to be adaptable. That's why in this episode of the podcast I wanted to report on some tips, tricks, and changes in the law that might help you have a financially free 2024.  In this episode you will learn: - Good options for short term savings - About college fund to Roth I...

Episode 191: How to Choose a Financial Advisor

Achieving financial freedom is not always easy. Some people have the skills to do it on their own, while others need some expert help and guidance. That's never a bad thing. Having that guidance means hiring a financial advisor. But how do you pick one? How do you know if you have the right one for your needs? Getting you answers to those questions is why in this episode of the podcast I talk about the steps you need to take in choosing the right financial advisor for you. In this episod...

Episode 190: Taming the High Cost of College with Brad Baldridge

The cost of a college education is getting higher and higher. Students are graduating with crushing debt and are either unable to find a job or can't get one that will earn them enough money to pay the loans. Parents often get into debt by cosigning loans, or sacrifice their retirement. That's why in this episode of the podcast I wanted to talk to someone who could provide advice and strategies on approaching the cost of higher education and making sure that parents and students have a pla...

Episode 189: Year-End Tax Planning Tips for 2023

As the holiday season approaches, we're all thinking about the celebrations, gift giving, and general joy that we experience during this time. But as the year comes to a close, we should also be thinking about our finances and the tax bill that may come in the new year. Thant's why in this episode of the podcast, although it isn't as exciting and uplifting as the holidays, I wanted to talk about some tax planning you can do now that may reduce that tax bill next April. In this episode yo...

Episode 188: Forming an Entrepreneurial Mindset with Danielle Hayden

No matter the size of a family business, the owner is an entrepreneur. This is an important realization, as having an entrepreneurial mindset is key to the success and growth of any business. That's why in this episode of the podcast I talk to Danielle Hayden of Kickstart Accounting about the entrepreneurial mindset, how to create a financial vision for your small business, and how to make sure that business weathers bad times. In this episode you will learn: - How to transform your mo...

Episode 187: Are You Falling Behind on Your Retirement Savings?

As people get older and closer to retirement, they start to worry about whether they are ready and whether they can afford to retire. Do they have enough money set aside? How much is enough? That's why in this episode of the podcast I wanted to talk about how many people think they're behind, how much they think they need to retire, how to tell whether you really ARE behind, and how to catch up if you are. In this episode you will learn: - How many people think they're behind - How mu...

Episode 186: Financial Therapy with Wendy Wright

If someone is having emotional, mental, or social problems, you might send them to therapy. But what if they are having financial problems? Is there any such thing as financial therapy? Well according to Wendy Wright, a therapist and money coach, there is! That's why in this episode of the podcast I wanted to talk to her about what financial therapy is and how it can help people change their thinking about money, communicate it better with their spouse, and get out of debt. In this episo...

Episode 185: Using Exchange Traded Funds in Your Retirement Savings

When it comes to retirement savings and investing, or any long term investing goal, there are many options for where to put your money. There are mutual funds, individual stocks, bonds, and the like. One option is something called Exchange-Traded Funds. These funds with the rather mysterious name can be a good option for investors. That's why in this episode of the podcast I wanted to talk about these funds, what they are, and whether you should consider them for your investment portfolio....

Episode 184: Your Business as a Franchise with Giuseppe Grammatico

According to the authors of the book The Millionaire Next Door, self-employed people make up less than 20 percent of the workers in America but account for two-thirds of the millionaires. So for those who want financial freedom on the millionaire level, being their own boss is something that should at least be looked into. But starting a business isn't easy, and most of them fail within the first 3 years. This has some people thinking about owning a franchise instead. That's why in this ep...

Episode 183: Series I Bonds. Are They for You?

Treasury bonds can be a key part of your long term investment strategy. There's been a lot of talk about Series I bonds, which were created to protect you against inflation (something we've all been struggling with over the past couple of years). But are they still a smart choice in today's economy? In this episode of the podcast I wanted to talk about this classification of treasury bond, how it can help you in your portfolio, and whether now is a good time to buy them. In this episode ...

Episode 182: A Personal Finance News Update

Although student loans continue to be a hot topic in personal finance news, there are many interesting articles and tips out there that can help you on your path to financial freedom.  These include a new repayment plan for student loans, a better place to put your savings, tips on saving on wedding costs, and tips on making your children financially independent. Thant's why in this episode of the podcast I wanted to talk about these various news items, many of which are cause for optimism...

Episode 181: Doing Your Mid-Year Financial Checkup

Your personal finances are never "set it and forget it." Even if you have set up a budget, have autopay on your bills, and a good retirement savings strategy, you still need to check in periodically to be sure that your financial ship is sailing in the right direction. That's why in this episode of the podcast I wanted to talk about how to do a mid-year checkup. You need to do this now (better yet every quarter) to make sure that your financial ship doesn't need a course correction. In t...

Episode 180: Dealing with Financial Stress

With all that is going on in our economy, from inflation to worries about recession and the resumption of student loan payments, people are getting stressed out about their finances. Money woes and fears can really weigh on your mind. That's why in this episode of the podcast I wanted to talk about how that stress can affect your life, and what you can do to reduce it. You should also check out Episode 105 of the podcast where I talk about this with psychologist Dr. David Weiman. In this...

Episode 179: Planning for the Resumption of Your Student Loan Payments

Everyone who has federal student loans is waiting breathlessly for the Supreme Court to rule on President Biden's federal student loan forgiveness program later this month. But no matter what the decision, the moratorium on payments will be coming to an end, and you will have to start paying on them again. That's why in this episode of the podcast I wanted to discuss what you need to do before the music starts up again to be sure that you are ready with an affordable repayment plan. What y...

Episode 178: Creating a Budget for Retirement

Everyone looks forward to retirement, that time when they can relax and enjoy life, made possible by the fruits of their labor during their working lives. However, that retirement isn't going to last that long, or be that enjoyable, if you don't adjust your non-salaried income to your non-working expenses going forward. That's why in this episode of the podcast I talk about how to create a retirement budget to make sure that your golden years are solid, and not just plated. In this episo...

Episode 177: Starting Your Own Business Empire with Soroya Garner

Episode 176: Tips for Buying a Home in 2023

As we approach the summer months, many people start thinking about shopping for a home. The weather is warmer, and it gives potential buyers an opportunity to see the whole home, both inside and out. But is it a good idea to buy a home in this real estate market? Would it be better to rent instead? That's why in this episode of the podcast I wanted to discuss the ins and outs of the process, along with tips on how to find the home of your dreams. In this episode you will learn: - How t...

Episode 175: Finding the Right Place for Financial Freedom with Ryan Frederick

Where you live can have a significant effect on your financial freedom, whether it's during your working life or in retirement. It can influence cost of living, opportunities in your careeer, or resale value when you are ready to downsize. That's why in this episode of the podcast I talk to Ryan Frederick about how he sees where you live and how location, location, location means so much more to your financial well-being. In this episode you will learn: - How being in the wrong place c...

Episode 174: Finding Financial Peace and Happiness with Dawn Dahlby

The current economy has people stressed out with inflation and talk of an impending recession. As a result, the process of saving for retirement, already seen by many as a slog and a struggle, can seem even mre difficult and anxiety-inducing. That's why in this episode of the podcast I talk with Dawn Dahlby, who is not only a Certified Financial Planner, but also a behavioral financial advisor. From her we can learn how to find financial peace and happiness in troubling economic times. I...

Episode 173: Retirement Savings Tips

Saving and investing for retirement has always been challenging, but in the turbulent economic times we've been living in lately, it can be even tougher. Inflation and talks of a recession have made many people fearful of the future and whether they will be able to make their investment goals this year. That's why in this episode of the podcast I wanted to discuss some tips by the experts on what you can do to be sure you are staying the course and doing what you need to do to reach your u...

Episode 172: The Hidden Costs of Divorce

According to Divorce.com, the U.S. has the highest divorce rate in the world at 40-50%, although the Census Bureau report suggests that the rate dropped from 2009 to 2019. 60% of second marriages and 73% of third marriages end in divorce. Divorce is also expensive, both financially and emotionally. But beyond the lawyers fees, there are many hidden costs that can wreak havoc with your personal finances and which need to be considered. That's why in this episode of the podcast I wanted to d...

Episode 171: A Personal Finance News Update

There's a lot in the news these days on personal finance, including a possible new repayment plan for student loans, dealing with marital "financial incompatibility," and new laws pertaining to retirement savings. With all of this going on, it can be hard to keep track and get all of the key facts. Thant's why in this episode of the podcast I wanted to talk about these various news items, many of which are cause for optimism in the new year. I hope they can help you avoid a tax audit, redu...

Episode 170: Preparing Your 2022 Tax Return

With tax season having officially started on January 23, the IRS is expecting taxpayers to file more than 168 million returns, most of them before the April 18 deadline. But depending on how involved your finances are, this can be a rather stressful time. That's why in this episode of the podcast I wanted to talk about the preparation process for your 2022 tax return in an effort to relieve at least some of that stress. Here's what you need to know about preparing it, filing it, and some d...

Episode 169: Building a Path to Financial Freedom with Eric Brotman

Positioning yourself for financial freedom early on in life is the best way to do it, and creates a greater chance of success. However, this can be done at any age through discipline and planning. Certified Financial Planner Eric Brotman has written several books on the process and helped countless people to achieve their goals. That's why on this episode of the podcast I wanted to talk to Eric about his books, his experience, and the advice he gives to his clients to help them to build th...

Episode 168: Preparing Your Finances for 2023

2022 was a rough year with inflation and recession rearing their ugly heads and causing us concern for our financial freedom (at least in the short term). But gas prices have dropped significantly, and recession has not been officially declared, so there's reason for hope in the new year. That's why in this episode of the podcast I wanted to talk about what the financial and economic experts are saying, whether you should listen to them, and what you should do to prepare your finances for ...

Episode 167: Using Post-Nuptual Agreements in Your Personal Finances

In Episode 128 I talked about the divorce of Bill & Melinda Gates, the fact that they didn't have a pre-nuptual agreement, and when these agreements might be a good idea. Although they are of particular importance in community property states, here in New Jersey and other equitable distribution states, it still might be a good idea. But what if you got married without a prenup? What happens then? Is it too late to agree on certain issues, such as the division of property, alimony, and chil...

Episode 166: Inflation Beating Holiday Shopping Tips

The Christmas of 2021 presented its own challenges. Shipping delays and supply chain bottlenecks made it difficult for stores to keep items on their shelves, which led to less than stellar deals and long delivery times. I talked about all of this in Episode 141. But this Christmas is different and requires a different strategy. You, as the consumer, are more in the driver's seat when it comes to getting deals and getting your gifts in time for the holiday. That's why in this episode of the...

Episode 165: Getting Permanent Disability Benefits with Sam Gaylord

Becoming permanently disabled can be devastating to your personal finances and seriously challenge your financial freedom and independence. In Episode 28 I covered how to deal with this if it's a result of a job-related injury. But what if it's for some other reason, like an auto accident or a debilitating disease? That's why in this episode of the podcast I bring back attorney Sam Gaylord to talk about how to get disability benefits, where you can get them, how you qualify for them, and h...

Episode 164: Having the Right Money Beliefs with Derrick Kinney

Financial freedom and independence can be achieved by diligently implementing proven strategies and tactics that will get you there. But if you don't have the right beliefs about money, it will be difficult, if not impossible to be successful. I discussed money mindsets in Episodes 34 through 36, but thought it was time to discuss it again. That's why in this episode of the podcast I talk with personal finance coach Derrick Kinney who has some great ideas, thoughts, and stories about havin...

Episode 163: Personal Finance Tip Roundup

With issues like inflation, recession, and student loans being hot issues this Fall, there are lots of items in the news discussing them. People are concerned with the rising cost of living, salaries at their jobs that might not be tracking with it, and student loan debt that they are struggling to pay, if they can afford to pay them at all. That's why in this episode of the podcast I wanted to do a roundup of some of the stories in the news that discuss these issues in hopes that the info...

Episode 162: Planning an Affordable Wedding of Your Dreams

With the pandemic essentially over with no more lockdowns of large gatherings, more and more people are setting dates and planning weddings. In Episode 96, I talked about getting your finances ready for marriage. But what about getting Ready for the Big Event itself? Weddings cost, on average, $20,000 at least, even before you pay for the guests at the reception ($70 per guest, average, so 100 guests would be another $7,000). This is a big expense before starting a life together. That's wh...

Episode 161: Federal Student Loan Relief

Now is an exciting and hopeful time for student loan borrowers. President Biden has announced a forgiveness program that will help many people struggling with payments. But there's more at work here than that. There are programs already in place that could also allow you to pay off your remaining balances sooner or get out of default (and repair your credit) while getting an affordable monthly payment. That's why in this episode of the podcast I go into detail about these programs, which o...

Episode 160: Benefits of a High Credit Score

In the last episode, and in Episode 149, I talked about the credit myths that may be holding you beck from building good credit and FICO scores that reflect it. Good credit scores are key to financial freedom and a bright financial future. But what can you expect when you get there? What does good credit look like and what are the advantages? Knowing the answers to these questions and what you are working towards, will help keep you motivated towards your goal, which is why I discuss these...

Episode 159: Busting More Credit Score Myths

Achieving and maintaining a good credit score is essential to maintaining your financial freedom. It allows you to get credit more easily and at more favorable rates. But many people are thwarted from doing this by all the myths and misconceptions that are out there about credit scores. I talked about this in Episode 149, but in my research I found a dozen more that are out there spreading "fake news" about what can help or harm your score. So let's dispel them right now. In this episode...

Episode 158: How to Deal with Inflation AND Recession

The news media has been talking a lot lately about inflation and the growing possibility of a recession. This has people worried about their short term financial plans, in dealing with inflation, and what a recession could do to their long term financial plans. That's why in this episode of the podcast I wanted to talk about not only inflation (which I've addressed in previous episodes), but recession as well, and offer a few tips for preparing your finances. In this way I hope to reduce y...

Episode 157: Strategies to Lower Your Tax Bill & Avoid an Audit

With inflation driving up prices and straining our budgets, we’re all looking for ways to save money. That includes increasing our take home pay by reducing the bite taken out of our paychecks by the government. That’s why in this episode of the podcast I wanted to talk about ways in which you can increase your tax deductions and decrease your taxable income. Also, because people are often afraid to do this because they fear an audit, I will also talk about audit red flags and how to avoid...

Episode 156: What to Do Should You Lose Your Job

Although unemployment is low these days, there are many that are warning that we are headed into a recession, and that not only will the hot job market cool, but that layoffs may be headed our way. In addition, many companies that have made offers have since withdrawn them, often with people who accepted those offers having given notice at their previous job. That’s why in this episode of the podcast, I wanted to talk about what you should do if you should lose your job, or how to prepare ...

Episode 155: Is Buy Now Pay Later For You?

At its Worldwide Developers Conference earlier this month, Apple announced that it would be offering a Buy Now, Pay Later program as a part of its financial services to customers. This alternative form of payment for goods and services has had a resurgence during the pandemic, and Apple’s announcement has put it in the news. But what is Buy Now, Pay Later, and should you be making use of it as part of your household finances and budget? In this episode, I will dive deep into this service a...

Episode 154: Making a Health Savings Account Part of Your Retirement Plan

Back in Episode 80 I talked about Health Savings Accounts in conjunction with some high deductible health insurance plans through the Affordable Care Act. An HSA is a great idea if you have one of these plans. However, since I have been talking about retirement planning and saving lately, I wanted to revisit this great savings option, as these accounts can serve two purposes: protect you from medial costs in a high deductible health plan and help you save for retirement at the same time. F...

Episode 153: Starting Your Kids on the Path to Retirement

In the past two episodes, I have talked about financial education for our children and instilling them with a basic working knowledge and literacy when it comes to money. I also discussed in Episode 136 about how you should start saving for retirement in your 20s and how it can be done. But what if you started earlier than that? What if our kids started saving for retirement even before they graduated from high school? In this episode of the podcast, I will talk about how parents can help ...

Episode 152: Development of Financial Personalities with Vince Shorb

In the last episode I talked with Jake Cousineau, a California educator who teaches financial literacy to high school students. But looking into this further I discovered that attitudes about money (called Financial Personalities) form way before a child reaches high school. Thus, teaching children from an early age (as I discussed in Episode 130) becomes very important. That’s why in this episode of the podcast I talk with Vince Shorb, a financial wellness advocate and educator, who has d...

Episode 151: Personal Finance for the Real World with Jake Cousineau

When I was growing up, the boys took shop, and the girls took home ec. The latter, as we would say today, stressed gender roles, and consisted of cooking, sewing, and the like. But real home economics should deal with household finances, budgeting, credit, and the like. It should help to prepare high school students for the real world. That’s why in this episode of the podcast, I wanted to talk about how that should change, and has been changing in some schools around the country. To that ...

Episode 150: Financial Planning for Widowed or Divorced Women

There are many challenges that face people on the road to financial freedom, including credit card debt, student loans, and a loss of employment or reduction in income. Overcoming them can be a real struggle, but necessary in reaching financial independence. But women, particularly widowed or divorced women, face particular challenges that need to be addressed in order for them to get back onto their financial feet. That’s why, in this episode of the podcast, I talk with Certified Financia...

Episode 149: Busting the Credit Score Myths

The pandemic has been disruptive economically to many people, to say the least! Jobs have been lost, income has been scaled back, and as we come out of all this, people are looking to rebuild and get a fresh start financially. Part of this is rebuilding their credit. But there are those out there who will be hampered from the start because of all the misinformation and misconceptions out there about credit and how it works. That’s why in this episode of the podcast I wanted to bust those m...