Learn how you can protect your loved ones financial abuse and how to minimize the damage if it happens! Financial Scams and Protecting Your Family A few years ago, my husband’s nana had sent over money to a scammer pretending to be him. She had thought he needed help and so she generously sent it […]
Want to up your game with your 401(k)?Learn what smart retirement moves you can make to optimize your portfolio and save for retirement!
Smart Retirement Moves for Your 401(k)
Last week we look at retirement planning from a high level – figuring out a ballpark of what you’d like your retirement to look like as well as how it fits in with what you’re doing now.
This week we’re focused on a very specific part – figuring out what to invest in when there are plenty of options.
Since I’m not a financial planner and I have no idea of your very specific finances, this episode will cover the process.
In this episode we’ll get into:
- Prioritizing your investments
- Look at whether index funds are really a smart move
- Optimizing your 401(k)
Hope you enjoy!
Resources to Rock Your Retirement
Ready to invest for retirement? Here are some fantastic resources to set things up and help you plan for your retirement together.
- Rock Retirement
- Investing Made Simple
- Free 401(k) Analysis: blooom
- The Secret Sauce to Financial Independence & Early Retirement
- Retirement Answer Man Podcast
- Best Budget and Money Apps: Personal Capital, Tiller, Mint
- Automatic Saving: Qapital
- Jumpstart Your Marriage and Your Money
- Financial Independence and Parenthood
- Setting Up Your Retirement with the Right Tools
- How to Get on the Same Page with Financial Independence
Support the Podcast!
Thank you so much for listening to the podcast!
- Spread the word! If you enjoyed this episode and think it can help a buddy get on the path to dumping debt and become financially free, please share.
- Leave a review. Honest feedback and reviews make a big difference and gets the word out about the podcast. Leave your review on Apple or Stitcher.
- Grab a copy of Jumpstart Your Marriage and Your Money. My book is designed for a busy couple to set up their finances in 4 weeks. Get tips and tools that have worked for other couples on their journey of building their marriage and wealth together!
Looking for a smarter way to plan for retirement? Nick, Divvy Investments founder, comes on the podcast to answer your biggest investing questions!
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What You Need to Know About Investing
I’ve been writing and (now podcasting) about personal finance and over the years I’ve received plenty of questions about money.
One popular topic is retirement.
While it may not be a day to day concern with many couples trying to juggle family, work and more, it doesn’t mean they’re not worried about it.
Today we’re going to answer your big investing questions.
As you may or may not know I’m not a financial expert. I started Couple Money as both a way to hold us accountable and connect with others on the same journey.
I’m a big believer in educating yourself with finances. No one is going to care about your finances like you do. Being knowledgeable helps you to protect yourself from making huge money mistakes.
But I’m not against learning from others and tapping into their expertise. So to get into the details with investing, I’ve recruited some help – Nick Bradfield, Divvy Investments founder.
Hope you enjoy!
Investing, Modern Portfolio Theory, & More
- Not Panicking When the Stock Market Falls
- Finding an Investment Strategy That Works for Us
- How to Beat 80% of Investors With 1% of the Effort
- How Bad Investing Habits Can Kill Your Returns
- How to Choose Your Asset Allocation
If you’re in the Raleigh/Durham area, COIN & Divvy are hosting an Investing Workshop series.
It’s a free four part personal finance and investing seminar that covers budgeting, self-employment finances, portfolio allocation and more.
- August 24th 10:00- 11:30 Finance Basics
- August 31st 10:00- – 11:30 Robo vs human
- September 7th 10:00 – 11:30 Owner/Operator
- September 14th 10:00 – 11:30 What can I do to get prepared?
The Frontier – 800 Park Offices Drive, Triangle, NC 27709 – RSVP here!
Thank You to Our Supporters
This episode is brought to you by Coastal Federal Credit Union.
If you’re sick and tired of being treated like a number by your bank, come over to the credit union side where you’ll be a member.
Coastal has been proudly serving its members, including me, for almost 50 years. They’re based in Raleigh, NC and provides service to members worldwide. Their network of 50,000 surcharge-free ATMs and 3,400 shared branches means you’ll always have access to your cash when you need it.
So if you’re ready to learn more and switch, please visit Coastal!
Support for this podcast also comes from Divvy Investments. If you’re looking for an easy way to help keep your portfolio on target for retirement without having to link your accounts to yet another service, check out Divvy.
Listeners can get a 10% discount; use the coupon code, “Couplemoney”.
Like the music in this episode? Our theme song is by Gentle Regime.
QUESTION OF THE DAY: What’s your investing strategy?
Want to easily set-up your retirement accounts without having to stress over it? Certified Public Accountant and author Mike Piper shares how index investing can help your achieve your investing goals.
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Today we’re at #5 of the top 10 episodes of the Couple Money Podcast!
Index Investing and You
Investing can be a tricky subject for many with all the noise out there on what’s stock hot or which mutual is about to rebound.
When I was putting together this episode my goal was to give you a few principles and resources that could get you set up with retirement investing even if you didn’t have a lot of money start off with.
During the interview Mike goes over a few essentials on investing, including:
- advantages of index funds
- what asset allocation is
- when robo-advisors can be helpful
- what to do when your 401(k) doesn’t offer index funds
Hope you enjoy!
Simple and Effective Investing with Mike Piper
Mike Piper has been helping people with their investing and more as a Certified Public Accountant and as personal finance author.
He founded Oblivious Investor and is a contributor to The Wall Street Journal and Money Magazine.
Looking for more information about investing? Please check out his posts on:
Start Investing Today
Setting them up was easy and the service has been wonderful with both companies.
Vanguard and Betterment offer you a way to invest effectively and efficiently with index funds and ETFs.
Want to invest using your expertise? Do you want to do more and put your money in what matters to you? Hardeep Walia founder of Motif Investing explains how thematic portfolios can be the solution.
For this edition of the podcast, we’re discussing investing – doing it effectively, efficiently, and within your values.
Is it possible to do all three? What are some options currently out there?
Today’s guest Hardeep Walia, founder of Motif Investing, makes a compelling case for thematic portfolios.
Why Diversification and Low Costs Matter with Investments
- you want it grow over time with some reasonable consistency
- you want to minimize costs so more of your money is working for you
Diversified investments can give you some protection.
While the stock market as a whole has risen in the long term, I’m sure you’ve seen the news where individual company stocks have bottomed out or one sector had a bubble that burst. If you are closer towards retirement, it can be stressful.
When your investments are spread out over different sectors, asset classes you minimize that volatility.
Buying a ton of individual stocks, though, can be incredibly expensive.
One solution is investing in mutual funds. With a well though out fund you can be diversified over a sector. But with actively managed funds, you’re paying for the fund manager.
Besides when active funds are compared to index funds, they tend to lose in the long run.
Index funds can be a practical solution for those who want to have diversified portfolio with low costs.
But is there a way for you to take the advantage diversification and tap into your insights? Not stock picking and going on hunches, but using your expertise and invest in what you know and what matters to you? And can it be done for a low cost?
Meet Hardeep Walia, Founder and CEO of Motif Investing
He serves on FINRA’s Technology Advisory Committee. Hardeep also has a regular column on Forbes and has been a guest on Bloomberg TV and CNBC.
What’s Covered in Today’s Episode
- How diversification can help you weather volitility
- The advantages of index funds over activetly managed mutual funds
- What thematic portfolios are and how you can get started
One concern for new investors is knowing where to put when you don’t have much to invest. When I started investing, there weren’t a ton of places where I could get a diversified portfolio with only $500.The good news is that there are low cost options today.
Diversified Index Funds
One of them is investing in index funds or ETFs. With this type of investing, you are simply trying to track whatever benchmark you’ve chosen, like the S&P 500.
Either all or a representative sample of a specific index are purchased. Since most of these are automated you typically pay lower fees.
They also have the advantage of giving you a diversified portfolio with one investment, depending on the index you want to track.
For those who want to do it themselves, here are a few funds that are fairly diversified and have a low minimum requirement to open an IRA:
- T. Rowe Price Equity Index 500 Fund (PREIX) – $1,000 minimum
- Schwab Total Stock Market Index Fund (SWTSX) – $100 minimum
- Schwab S&P 500 Index Fund (SWPPX) – $100 minimum
This certainly isn’t a comprehensive list, but it’s enough to get your started with investing.
Make Your (Retirement) Life Easier with Automatic Contributions
Once you’ve opened up your account and invested in your fund or ETF, you’ll most likely prefer to go ahead and set up automatic contributions.
It’s the easiest way to keep growing your portfolio and as your financial situation improves, you can increase your contributions.
What if you want something a bit more customizable, but still fairly easy to manage? You may want to look at using a robo-advisor such as Betterment. We use them for my husband’s Roth IRA. It’s extremely easy to set -up (took less than 20 minutes for us) and automate contributions so you can reach your financial goals.
We’re really happy with them and recommend Betterment for anyone who needs a a place to build their investments. Want More Info? Read How to Set Up Your IRA in 20 Minutes or Sign Up and Open an Account. For those who want more control over their portfolio, Vanguard is one of the best.
Thoughts on Investing
If you’re handling your own investments, I’d love to hear your thoughts on the topic. How did you determine your asset allocation? What resources do you recommend on learning more?