Money Talks News: The Podcast By cover art

Money Talks News: The Podcast

By: Money Talks News
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  • Welcome to Money Talks News: The Podcast, a podcast devoted to everything money: how to get it, how to grow it and how to keep it. From the creators of MoneyTalksNews.com, a leading source of personal finance news and advice since 1991.
    2024 Money Talks News
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Episodes
  • How to Painlessly Talk Money With Your Honey

    How to Painlessly Talk Money With Your Honey
    Jun 5 2024
    Editor's Note: Here's one of the best podcasts from the archive that you may have missed. This episode initially aired on March 06, 2021. When my wife and I joined households 11 years ago, we combined our kitchen stuff, our furniture, our linens and just about everything else. The one thing we didn't combine? Our money. When it comes to money, she does her thing and I do mine. About the only time our money meets is on our joint tax return. This is the system that works for us, although it likely wouldn't work for everyone. That's the thing with money and relationships: There's no right answer. Anyone who tells you there's only one correct way to mix money and marriage -- and there are plenty of "experts" who do -- is just plain wrong. The one thing that's universally true is that money secrets are bad. My wife and I don't combine our money, but we do discuss it. Often. Whether you've been together for 30 months or 30 years, avoiding talking money puts your relationship at risk. This is especially true if finances are tight, or if you combine your finances and have different money "personalities" -- such as a spender or borrower in a relationship with a saver or investor. To nobody's surprise, money is routinely cited in surveys as a major source of stress. So when, and exactly how, can we discuss money with our significant others without causing friction? How do we get on the same page and stay there? Or are differences about money just something couples have to learn to live with? In this week's "Money!" podcast, we're going to find answers to these questions, as well as many more. Our guest is best-selling author and award-winning speaker Tarra Jackson, also known as Madam Money. As usual, my co-host will be financial journalist Miranda Marquit, and we're joined by our producer and sound effects guy, Aaron Freeman. Sit back, relax and listen to this week's "Money!" podcast: Listen on Apple PodcastsListen on Google PodcastsListen on Spotify Not familiar with podcasts? A podcast is basically a radio show you can listen to anytime, either by downloading it to your smartphone or other device, or by listening online. They're totally free. They can be any length (ours are typically about a half-hour), feature any number of people and cover any topic you can possibly think of. You can listen at home, in the car, while jogging or, if you're like me, when riding your bike. You can listen to our latest podcasts here or download them to your phone from any number of places, including Apple, Spotify, RadioPublic, Stitcher and RSS. If you haven't listened to a podcast yet, give it a try, then subscribe to ours. You'll be glad you did! Show Notes Want more information? Check out these resources: MadamMoney.com (Tarra's website)"10 Things You Should Know about Joining Finances in Marriage""8 Key Steps to Planning for Retirement as a Couple""6 Ways to Get Your Spouse to Save More Money""Living Together but Not Married? 5 Important Things to Know"Business Insider: "8 ways to talk to your partner about money"Money Under 30: "How To Have 'The Talk': 6 Tips For Couples Discussing Finances"Mint Life: "How to Talk Money in a Relationship: Dos and Don'ts"NBC News: "The 3 money conversations you and your partner need to have"Subscribe to the Money Talks News newsletterTake our The Only Retirement Guide You'll Ever Need courseTake our Money Made Simple course About me I founded Money Talks News in 1991. I'm a CPA, and I have also earned licenses in stocks, commodities, options principal, mutual funds, life insurance, securities supervisor and real estate.Become a member: https://www.moneytalksnews.com/members/See omnystudio.com/listener for privacy information.
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    41 mins
  • 3 Tips for Buying a Home When the Market Stinks

    3 Tips for Buying a Home When the Market Stinks
    May 29 2024
    In this episode of Money Talks News, the podcast dives into the challenging housing market as Stacy Johnson and Miranda Marquit discuss strategies for buying a home despite high rates and low inventory. They are joined by real estate expert Mindy Jensen from BiggerPockets. Mindy shares insights on preparing finances, creative financing options, and the pitfalls to avoid in such a tight market. The conversation extends to the recent legal changes affecting real estate agent commissions, offering listeners a thorough understanding of the current landscape. Whether you're an eager buyer or a cautious renter, this episode provides valuable advice and perspectives. 00:00 Welcome to Money Talks News: Navigating the Housing Market00:33 Expert Insights with Mindy Jensen on Real Estate01:32 The Art of Live-In Flips and Tax Benefits03:16 Navigating a Tough Market: Strategies and Stories09:44 Financial Strategies for Buying in a High-Rate Market10:57 Understanding Mortgage Payments and Home Affordability14:50 The Rent vs. Buy Debate in Today's Market18:02 Exploring Alternative Financing and Investment Strategies19:56 The Risks and Rewards of Margin Loans for Real Estate23:12 Making Decisions in a Challenging Real Estate Market24:20 Navigating Real Estate Pricing and Mortgage Payments26:11 The Art of Negotiation and Seller Financing32:52 Exploring Mortgage Assumptions and Creative Financing42:36 Adjustable Rate Mortgages: A Risky Solution?45:17 The Future of Real Estate Commissions and Buyer's Agents Existing home sales surged 9.5% in February 2024, the largest increase in a year. Even with the rate of home sales slowing down a bit, they remain relatively strong. With home sales still fairly strong, we're not likely to see prices come down anytime soon. Combine that with relatively high mortgage rates, and it's definitely NOT a buyers market. But what if you're ready to buy a home anyway? What can you do to best position your finances to get ready to buy a home, no matter what's going on with the market? In this episode we welcome back a friend of the show Mindy Jensen from BiggerPockets to help us sort out how to get the best bang for your homebuying buck. Remember, even though we sometimes talk about money and specific investments on this show, don't take them as recommendations. Before investing in anything or making any money moves, do your own research and make your own decisions. You can download the episode wherever you get your podcasts: Listen on Apple PodcastsListen on Google PodcastsListen on Spotify Don't forget to check out our podcast page for more episodes designed to help you make the most of your money. Why is the housing market so tough for buyers right now? We start by taking a look at why the housing market is so tough right now—and why prices remain stubbornly high. Some of the reasons that home prices haven't come down as much as we'd like: There remains a housing shortage of at least 1.5 million homes.It can be difficult to buy a home on a current income since home prices have far outpaced wage growth in recent years.Coming up with a down payment can feel challenging in the current climate. On top of that, there are concerns about how the recent settlement with the National Association of Realtors could impact buyer representation and costs for buyers. However, some of these pressures might finally help bring home prices down, at least in some markets. Depending on where you hope to buy, you might be able to find lower home prices as you move forward with your homebuying journey. Tips for preparing your finances for buying a home in any market Our episode includes helpful information on buying a home, pointing out that it depends on your goals. Trying to time the housing market, especially when you're looking for your primary residence, might not make much sense in the long run. We reference a past episode featuring Mindy, which offers tips on getting the best homebuying deal possible. But we also talk about some of the realities of getting financing these days. You don't need to put down 20%, even though that's the conventional wisdom. Indeed, first-time homebuyers often put down 6%, and some conventional programs through Fannie Mae and Freddie Mac allow as little as 3% down. Figuring out how to come up with a down payment is one of the most difficult parts of the process.Government programs can help you get a lower down payment. We talk about FHA loans and VA loans as ways to get help financing a home with a low down payment.Another option is to use seller financing. If you can work out a deal with the seller, and they don't need an immediate chunk of cash, you might be able to convince someone to help you with a deal.Keep your credit score as high as possible and make sure you have a low debt-to-income ratio to increase your chances of being approved at the most competitive rates.Understand your goals for buying. In some cases, getting a cheap live-in fix and flip, like what ...
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    51 mins
  • The Ultimate Guide to Roth Retirement Accounts: Why You Need One Now

    The Ultimate Guide to Roth Retirement Accounts: Why You Need One Now
    May 22 2024
    Editor's Note: This episode initially aired on June 22, 2023. It may contain some details that are out of date. Are you familiar with Roth IRAs? If you're not, you should be, because Roth IRAs are a great way to get tax-free income after you retire. There is a potential fly in the ointment, however. Namely, not everyone qualifies for a Roth. If you make too much money, Uncle Sam says you can't use 'em. But there's a way around that rule: Fund a regular retirement account, then roll it over to a Roth. It's called a backdoor Roth. Sounds sneaky, right? Should you do it? And if so, how do you go about it? Let's find out. In this podcast episode, we're talking about how to convert an IRA to a Roth IRA without getting eaten alive by income taxes. In addition, we'll be talking about nearly every facet of Roth accounts and why they should be an integral part of every retirement strategy. Host Stacy Johnson is joined by financial journalist Miranda Marquit. Listening in and sometimes contributing is producer Aaron Freeman. This week's guest is Ed Slott, the founder of IRAhelp.com. He's ready to tell us why a Roth conversion is his No. 1 tax tip for this year. Before we start, remember this isn't financial advice. So make sure to do your own research and consult your own experts before acting on anything you learn here. You can download the episode wherever you get your podcasts: Listen on Apple PodcastsListen on Google PodcastsListen on Spotify Using an IRA for your retirement We talk about individual retirement accounts (IRAs) in this episode. Here are some great resources on how to make the most of your IRA — whether you get a traditional or a Roth. Investing in Gold and Gold IRAs: 5 Things You Need to KnowThe 7 Most Popular IRA Investments15 Mistakes People Make With Roth IRAsGot an IRA? Here’s How to Use the Bear Market to Your AdvantageHow a Roth IRA Conversion Turns a Stock Market Plunge Into a Plus8 Ways to Maximize Your Traditional or Roth IRAHow to Buy Real Estate With Your IRA If you decide to do a Roth conversion, like our guest Ed suggests, make sure you know the rules. We recommend checking out Investopedia's article "Roth IRA Conversion Rules." Learn more about retirement accounts An IRA isn’t your only choice for retirement. There are different accounts and strategies you can use to make the most of your golden years. Here are some great resources for getting more out of retirement. My Retirement Savings Are Shrinking. Should I Worry?How to Retire at Any Age Using Your Retirement Number12 ‘Course Corrections’ That Will Improve Your RetirementThe Top 11 Sources of Retirement Income, According to Retirees5 Dumb Retirement Mistakes Everyone MakesHow to Boost Your Social Security by 30% + 7 Tips for a Richer RetirementHow to Save for Retirement, Decade by Decade11 Huge Retirement Costs That Are Often Overlooked9 Topics to Tackle Now to Survive Retirement With Your Spouse8 Countries That Offer Retirement Visas to AmericansHow 401(k) Plans Could Soon Be More Like PensionsHave a 401(k)? Here’s a Secret Retirement Plan You Probably Don’t Know About7 Key Habits of 401(k) and IRA Millionaires4 Ways to Save for Retirement Without a 401(k)Why a Solo 401(k) Offers Big Savings Opportunities for the Self-Employed Meet this week's guest, Ed Slott[caption id="attachment_426514" align="alignnone" width="1920"] Courtesy of Ed Slott / Money Talks News[/caption] Ed Slott is a nationally recognized IRA distribution expert, television personality, and best-selling author who has dedicated his life to educating Americans on the intricacies of IRAs.  He was named "The Best Source for IRA Advice" by The Wall Street Journal. Slott is the author of numerous highly acclaimed books, including his latest, "The New Retirement Savings Time Bomb" (Penguin Random House, 2021) and "Ed Slott's Retirement Decisions Guide: 2022 Edition" (IRAHelp, 2022). He has also hosted several public television programs, including his latest,  "Ed Slott's Retirement Freedom," and is a professor of practice at the American College of Financial Services. IRAhelp.com Don't listen to podcasts? A podcast is basically a radio show you can listen to anywhere and anytime, either by downloading it to your smartphone or by listening online. They're awesome for learning stuff and being entertained when you're in the car, doing chores, jogging or riding your bicycle. You can listen to our latest podcasts here or download them to your phone from any number of places, including Apple, Spotify, RadioPublic, Stitcher and RSS. If you haven't listened to our podcast yet, give it a try, then subscribe. You'll be glad you did! About the hosts Stacy Johnson founded Money Talks News in 1991. He's a CPA, and he has also earned licenses in stocks, commodities, options principal, mutual funds, life insurance, securities supervisor and real estate. Miranda Marquit, MBA, is a financial expert, writer and speaker. She's been covering personal...
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    30 mins
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Afraid to Negotiate??

Liked that my hesitancy to negotiate could be overcomes by taking a deep breath and asking for whatever deal I was looking for. Need to get over the hesitancy.

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