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Author Topic: Finance  (Read 142 times)

Jared

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Finance
« on: March 05, 2017, 11:41:06 AM »

I haven't listened to all of the episodes yet so maybe it has already been covered. 

"Gentlemen tend their fields"-- I think I remember you had a good take on that phrase once upon a time.  In my opinion, a huge part of that concept is making sure you are financially-- not only handle your own financial affairs-- but to be in a position to support others if the situation presents itself.

I'm thinking things like living below your means, understanding basic tax code, basic investment tools, insurance, etc.
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Clay

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Re: Finance
« Reply #1 on: March 06, 2017, 06:07:46 AM »

That is a great podcast idea.  I am not very up on tax code and and investing but I can try and find someone to help out with that.

I did a similar podcast episode about retiring early, I think... the episodes kind of run together after 3 years.  I mentioned in that podcast that borrowing against your 401k was a possibility and got drug down the road by a guy that said that borrowing against their 401k under no circumstances is acceptable.  My argument was that you can borrow against it when the interest rate is lower than a typical loan and you understand the fact that you will be paying it back.  So my own personal finance methods are different than others.  Having differing opinions on the subject would be a great way to open up ideas on how to be financially stable and prepared for a hard time.
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Jared

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Re: Finance
« Reply #2 on: March 07, 2017, 06:42:12 AM »

We tapped our 401K to buy our first house actually.  The only reason we touched our savings was because we bought a duplex.  We went from paying rent that we will never see again to having someone else cover nearly all of our mortgage while building equity.  It was a huge step in the right direction financially.

I'll see if I can find your podcast on retirement and see if I can come up with any other angles on finance.
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Clay

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Re: Finance
« Reply #3 on: March 10, 2017, 06:23:52 AM »

I would appreciate that.  The financial world is scary to a lot of people.  Sometimes you have to make that big step and do something that makes you sick.  That is how I bought the house I am in for tax value and a bit of work to make it acceptable to live in.
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Jared

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Re: Finance
« Reply #4 on: March 25, 2017, 05:21:35 PM »

I agree.  There's so much that isn't taught in school that everyone should know about.  Just a basic understanding of finance can make such a difference in the lifestyle you can live.
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