It may have been over a year since I last put together a podcast episode, but I’m back today to talk with Consumerism Commentary Podcast guest Carl Richards. Carl is here to talk about his new book, The One-Page Financial Plan: A Simple Way to Be Smart About Your Money. The author will also be the keynote speaker at the upcoming FinCon Expo.
In today’s podcast, Carl and I discuss why reducing a complex financial plan to one page can be key for living the fulfilled life you envision and how certain emotions can stand in the way. We talk about avoiding financial mistakes, and what a financial adviser’s (or a friend’s) role might be.
Because Carl is “The Sketch Guy” for The New York Times, we talk about the origins of Carl’s sketches, and how these sketches and Carl’s other art have been received in the art scene.
Finally, Carl and I discuss the process of publishing, and listeners will get an early listen to what might be the focus of his FinCon keynote address.
Consumerism Commentary is offering five free copies of The One-Page Financial Plan to five Consumerism Commentary readers. To be considered for receiving one copy of the book, which is also available at retailers, leave a comment below the transcript.
[click to continue…]
Today’s guest on the Consumerism Commentary is author Zac Bissonnette. Zac last appeared on the show four years ago, and he’s back today to talk about his new book, Good Advice from Bad People: Selected Wisdom from Murderers, Stock Swindlers, and Lance Armstrong.
The study of hypocrisy seems to be infinite, but it is particularly evident in the self-help and motivational genres — and you don’t have to look far from personal finance advice to find some of the most egregious examples of experts and gurus living by rules different than those they preach. Zac’s book is a fascinating read about the lives of notorious people who, if judged by their words of advice alone, should be saints.
You might be familiar with Bernie Madoff, but reading about the lives of motivational swindlers like Charles Givens, Barry Minkow, and Myron Scholes gave a different kind of context to the words they’ve written and the speeches they’ve performed.
Can you separate the advice from the people who speak it? What makes someone worthy of offering advice? Zac and I discuss these things — and Tim Tebow. Continue reading this article to listen to or download the podcast. You can also subscribe to the podcast in iTunes.
[click to continue…]
This interview should be required listening for women — and men — who are in a relationship, particularly a marriage, in which the woman earns more than the man. This is precisely the situation in which author Farnoosh Torabi has found herself, and as a popular financial columnists, she discovered she wasn’t alone.
Based on her own experiences, questions from her readers, she began researching relationships for her latest book, When She Makes More: 10 Rules for Breadwinning Women. The book features stories from and advice for the growing number of couples who are seeing this non-traditional income dynamic.
The book will be released May 1, but Farnoosh is offering several special deals for anyone who orders the book before its release. You could win care baskets from the author’s favorite brands and services, including TaskRabbit, Evernote and Stella & Dot. You might also win lunch with the author and a backstage pass to the NBC Today Show.
In today’s episode of the Consumerism Commentary Podcast, Farnoosh Torbai discusses this phenomenon and offers tips and suggestions for adapting to a different financial balance. Continue this article to listen to the podcast. You can also subscribe to the podcast in iTunes.
[click to continue…]
Although I was tracking my net worth closely, I can’t pinpoint the exact moment my total net worth would have crossed into seven figures and someone might consider me a millionaire. It was something I wasn’t thinking about for a variety of reasons, but because I was an entrepreneur, I was the owner of a business that was increasing in value. It was difficult to assign a specific value to that business, but because I ended up selling that business — this website — the buyer and I both had to agree on a value.
Sometime before then, I also crossed the point of having a balance sheet that included investable (non-business) assets of a million dollars. One of the reasons I stopped publicly tracking my finances as I wasn’t interested in drawing attention to the fact. I tracked my finances to hold myself accountable for making better decisions with my money on a day-to-day basis; as my business grew, most daily decisions had little impact on my financial well-being.
So I stopped. And I don’t talk about my net worth. Instead, I let Consumerism Commentary readers track theirs, like I did for many years, through Naked With Cash. But there are a lot of people who like talking about what it means to be a millionaire. For most people who have reached that abritray round-number milestone with their investable net worth, life hasn’t changed too much from when their net worth was lower.
Jaime Tardy founded Eventual Millionaire to talk to as many millionaires as possible, with the goal of gaining some insight about entrepreneurship that could help people see that kind of success. But does it make sense to look at that millionaire milestone as the target? Most people in my age group (I’m 38 years old as of last week — happy birthday to me) would probably need several million dollars invested if they wish to be financially independent today or would need as much twenty years from now for a healthy retirement living a middle class life.
In this podcast, I discuss this issue with Jaime, and we determine what we might be able to learn from millionaire entrepreneurs. Her new book, The Eventual Millionaire: How Anyone Can Be an Entrepreneur and Successfully Grow Their Startup, is now available.
Continue reading this article to listen to the audio or to find a link to download the audio for later. You can also subscribe to the podcast in iTunes.
[click to continue…]