Financial Side of Life
Angie Furubotten-LaRosee Certified Financial Planner™ Pro: College, Retirement and Investments
- 15
- Episodes
- 2019
- First episode
About Financial Side of Life
Tax-smart retirement income planning and investment management for retirees, particularly PNNL employees, for a flat fee | Fiduciary | CFP® Pro
- Publisher
- Angie Furubotten-LaRosee Certified Financial Planner™ Pro: College, Retirement and Investments
- Category
- business · education · kids & family
- Language
- en
- Explicit
- No
- First episode
- 24 Jan 2019
- Latest episode
- 26 Jun 2020
Latest episodes
15 episodes in the feed.
26 Jun 2020
Life & Money Lessons From Dad
Life & Money Lessons From Dad, Special Father’s Day Edition Life and money lessons from Dad. A girl’s dad is a pretty special person. I got the chance to sit with my dad, Jim Furubotten, just before Father’s Day to talk about his memories and things he learned during his 8 decades on this planet. Watch this interview on YouTube. (https://www.youtube.com/watch?v=DGU78EaLOKM) I’ve done this a few times with my folks, sat and asked them questions on camera. (I even interviewed my mom on this episode Money Lessons from Mom – Special Mother’s Day Bonus (https://www.aveafp.com/ep-financial-life-lessons-from-mom/) for Mother’s Day in 2018.) But those interviews were just for me. This time I’m sharing it with you. In our interview, at times bringing up swells of emotion (which for this salt of the earth, mid-western, happy go lucky Norweigan is pretty atypical) he speaks frankly about his humble beginnings in a cabin with a dirt floor in Montana, through his graduation along with his older brother from SDSU (https://www.sdstate.edu/) as a civil engineer, meeting my mom and starting a family, moving to the Tri-Cities and a long career for the federal government. You’ll really want to listen all the way to the end. About 30 minutes in, I think he started to get in the groove of the podcast and really started to open up about his personal opinions and advice to families. And he made a plug for this Certified Financial Planner Tri-Cities. Subscribe and watch this podcast on my YouTube channel (https://www.youtube.com/channel/UC0O0cCLuhF0ghFPl79Qecqw). In this episode you’ll learn more about: * His memories about his own dad and ultimately what happened to him. * What kind of work his mom did to make ends meet? * What was the one thing that helped after a major tragedy occurred in his family? * What does he think about passing on his money values? * What are some of the most important things people should do themselves and in raising their kids? * What is something that no one ever talked to my dad about? * What’s his final piece of advice? * What are other life and money lessons from dad? Listen in to find out. Links * Like my dad says, everyone needs a good advisor. If you are a woman, somewhere… over 55, looking for a financial advisor to help you earn more, save more, invest more so you can do more, reach out to Angie (https://www.aveafp.com/schedule-a-meeting-with-avea-financial-planning/) today. * #FinancialPlannerTriCities (https://www.aveafp.com) #TriCitiesWA * This podcast is brought to you by Angie at Avea Financial Planning, LLC. (https://www.aveafp.com/), your Financial Planner Tri-Cities. Ask Angie, Your Financial Planner Tri-Cities Have a question that you’d like to have answered on a future podcast episode? or send your question — along with your first name and the city you live in — to angie@aveafp.com (mailto:angie@aveafp.com). Full podcast episode transcript. Coming soon. Episode 34.
17 May 2020
Ep. 33 – Plan for Long-Term Care, Protect Your Nest Egg
Ep. 33 – Plan for Long-Term Care, Protect Your Nest Egg Long-term care and estate planning are two financial life planning areas that everyone can benefit from. Subscribe to my newsletter. (https://aveafp.us3.list-manage.com/subscribe?u=bde590757c8d3c042d6e689c9&id=c7e459663e) But it is even more so a woman’s issue. Why? Two reasons. Women are oftentimes the caregiver for their spouses. And because women frequently outlive their spouses, there is no one to care for them. Although today’s podcast is intended for everyone, without a doubt, women need to pay close attention and plan for their own care and successful outcome. Liz Wallace, estate planning and specifically, elder law attorney with Agile Elder Law (https://www.agilelawfirmeast.com/), joins me, Angie Furubotten-LaRosee, your Financial Planner Tri-Cities, in this discussion. We are talking about estate planning with careful consideration given to planning for asset protection and long-term care. We are hosting a free webinar this month, How to Protect Your Nest Egg and Pay for Long-Term Care. May 28th 2020 at 5:15 PM . Register here aveafp.com/events (https://www.aveafp.com/event/estate-planning-long-term-care/). This is a complex issue with many variables. I hope you will listen in and join our webinar. Subscribe and watch this podcast on my YouTube channel (https://www.youtube.com/channel/UC0O0cCLuhF0ghFPl79Qecqw). As always, tune in to hear all the details. In this episode you’ll learn more about: * Why do most Americans not complete their will and estate plans? * What are important consequences for not completing estate planning documents? * How does estate planning even relate to long-term care planning? * 2 common mistakes you see people make. * What are risks of not having proper planning if you experience a long-term care event? * What are key steps people should take to protect themselves, their assets and their loved ones? Links * Liz Wallace, Agile Elder Law (https://www.agilelawfirmeast.com/) * Reach Liz at Liz@agilelawfirmeast.com (509) 530-2380 * Facebook (https://www.facebook.com/AGILE-Elder-Law-100111831680532/) and Instagram (https://www.instagram.com/agile_elder_law/) * If you are looking for a financial advisor to help you earn more, save more, invest more so you can do more, reach out to Angie (https://www.aveafp.com/schedule-a-meeting-with-avea-financial-planning/) today. * #FinancialPlannerTriCities (https://www.aveafp.com) #TriCitiesWA * This podcast is brought to you by Angie at Avea Financial Planning, LLC. (https://www.aveafp.com/), your Financial Planner Tri-Cities. Ask Angie, Financial Planner Tri-Cities Have a question that you’d like to have answered on a future podcast episode? or send your question — along with your first name and the city you live in — to angie@aveafp.com (mailto:angie@aveafp.com). Full podcast episode transcript. [00:00:00] Angie Furubotten-LaRosee, CFP®: [00:00:00] Hey everybody. It’s Angie here, Certified Financial Planner, and I want to welcome you to the financial side of life podcast. So today I enjoined by Liz Wallace. Say hello to our listeners, Liz. Liz Wallace,
30 Apr 2020
Ep. 32 – Washington 529 College Savings Plan – Post Covid-19
Ep. 32 – Washington 529 College Savings Plan – Post Coronavirus – What’s New, What’s The Same Washington 529 College Savings Plans update…Springtime seems to mean getting back together with Luke Minor and Jackie Ferrado from the Washington 529 College Savings Plans. I’ve checked in on the Washington 529 College Savings Plans for the last two years as my own oldest kid was nearing his freshman year of college. Here are the first two podcast interviews with them. It is time to check in again with them. Ep. 5 – DreamAhead and GET Ready to Pay for College (https://www.aveafp.com/ep-5-dreamahead-and-get-ready-to-pay-for-college/) Ep. 23 – WA529 Plans. The Best Decision You’ll Ever Make (https://www.aveafp.com/wa529-plans/) To watch video interview on YouTube. (https://www.youtube.com/watch?v=xLVzPPhos4k) Washington 529 College Savings Plans include two plans, the GET Guaranteed Education Tuition 529 Prepaid Tuition Program (https://www.get.wa.gov/) and the DreamAhead College Investment Plan (https://dreamahead.wa.gov/) which provide families with two powerful tools to save toward college goals. You can start here (https://wastate529.wa.gov/) for info on both plans. We did this interview in the early days of the Coronavirus pandemic in the Spring of 2020. We talk about some of the effects of the recent situation. Colleges have closed, students have been sent home, families have had refunds to some extent. We talk about the impact of refunds, what is new with college savings plans, and what has stayed the same. The Washington 529 College Savings Plan are hosting Knowledge Cafes and webinars (https://www.get.wa.gov/webinars#overlay-context=) frequently. See Calendar. (https://www.get.wa.gov/events) As always, tune in to hear all the details. In this episode you’ll learn more about: * What are the key things families should know right now about the two Washington 529 College Savings Plan? * What are some of the questions people are asking when they call Washington 529 College Savings Plan call center? * How are people reacting to the March drawdown in the markets? * The GET is a prepaid college savings plan guaranteed to pay future tuition. How solvent it is? * What to be thinking about if you are a current plan participant, especially if you have lost a job * What to be thinking about if you want to start saving for college. * Why saving is more important now than ever. * Washington 529 College Savings Plan main website (https://wastate529.wa.gov/) and Facebook (https://www.facebook.com/WA529/). * Ep. 5 – DreamAhead and GET Ready to Pay for College (https://www.aveafp.com/ep-5-dreamahead-and-get-ready-to-pay-for-college/) Ep. 23 – WA529 Plans. The Best Decision You’ll Ever Make (https://www.aveafp.com/wa529-plans/) * Watch this podcast on my YouTube (https://www.youtube.com/channel/UC0O0cCLuhF0ghFPl79Qecqw) channel The Financial Side of Life (https://www.youtube.com/channel/UC0O0cCLuhF0ghFPl79Qecqw). * If you are looking for a financial advisor to help you earn more, save more,
9 Apr 2020
Ep. 31 – What’s Happening with Mortgages & Refinancing Right Now with Brian Cook, Peak Mortgage
Ep. 31 – What’s Happening with Mortgages and Refinancing Right Now with Brian Cook, Peak Mortgage Mortgages and refinancing, what’s happening right now with them in the midst of the coronavirus pandemic, market crisis and pending recession? “Stay Home, Stay Healthy” has been the order for about 4 weeks. But that isn’t stopping people from taking advantage of some of the lowest interest rates in history. My guest is Brian Cook, mortgage advisor at Peak Mortgage (http://briancookhomeloans.com) here in the Tri-Cities, Washington, (https://www.aveafp.com/team/) and we get right into the details of what is happening now, and if you are thinking about doing a refi what to consider. We also talk about reverse mortgages. For example, this technique allows someone to stay in their home and therefore use the equity built up as a sort of a “bucket” of money to draw income from. Therefore, Brian talks about things to consider if you or a loved one is considering a reverse mortgage. There have been recent changes in law regarding keeping current on your mortgage payments. So Brian tells us stories of people who are thinking about skipping payments or taking advantage of “forbearance”. Right now, a lot of people are suddenly out of work and having a hard time keeping up on bills. He goes into detail what that means, some of the “gotchas” to watch out for and what to do if you find yourself in trouble. As always, tune in to hear all the details. In this episode you’ll learn more about: * Some background on why we’re seeing what’s happening in the mortgage arena. * Why are rates going lower right now? * He describes himself as a “Kennewick guy” and how to contact him. * What questions to ask a trusted mortgage advisor? * What you shouldn’t be afraid of. * Brian’s Peak Mortgage (http://www.briancookhomeloans.com/) website * Watch this podcast on my YouTube (https://www.youtube.com/channel/UC0O0cCLuhF0ghFPl79Qecqw) channel The Financial Side of Life (https://www.youtube.com/channel/UC0O0cCLuhF0ghFPl79Qecqw). * If you are looking for a financial advisor to help you earn more, save more, invest more so you can do more, reach out to Angie (https://www.aveafp.com/schedule-a-meeting-with-avea-financial-planning/) today. #FinancialPlannerTriCities (https://www.aveafp.com) Ask Angie Have a question that you’d like to have answered on a future podcast episode? Send your question — along with your name and the city you live in — to angie@aveafp.com (mailto:angie@aveafp.com).
19 Mar 2020
Ep. 30 – A Nexus Between Past Challenges and Future Opportunities with Sokhom Sek, NexusPoint
Ep. 30 – A Nexus Between Past Challenges and Future Opportunities with Sokhom Sek, NexusPoint NexuxPoint (https://www.thexocollaborative.com/) founder, Sokhom Sek and I met most recently at a Fuse (https://fusespc.com/) Co-Working networking event, got along splendidly and I was intrigued by her varied and interesting background. First thought? Podcast guest! Sokhom’s story starts with her family in late 1970’s Cambodia. The period of genocide carried out by the Khmer Rouge under the leadership of Pol Pot was coming to an end. After leaving their large extended family and country, and living in a refugee camp where she was born, her family ultimately immigrated to the US where she was the first to graduate from high school. She describes herself as a first-generation kid growing up in America. Growing up was tough, there were many challenges and lessons to be learned. She grew up in Long Beach California in the 90’s. Violence was the way of life. Gang violence, drugs, poverty. She was attacked as a 7-year-old on her way home from school. This was around the time of the 1992 LA riots in response to the acquittal of police offers for the beating of Rodney King. Her high school, Woodrow Wilson High School had a new, young teacher Erin Gruwell, who went on to teach students the power of reading and writing to effect change in their own lives. Sokhom was a part of the Freedom Writers these kids came to be known as. Ms. Gruwell went on to found the Freedom Writers Foundation (http://www.freedomwritersfoundation.org/) to continue this work. From this start, Sokhom began to realize her own potential. She continued to seek out opportunities and education to help her reach where she is today, president and consultant of her own firm, NexusPoint, a company that is built on diversity, equity and inclusion. For me, a Tri-City native, it is so hard to relate to the challenges she’s faced in her life. But her story is a compelling one of hope and possibilities. Tune in to hear all the details. In this episode you’ll learn more about: * How having a positive role model who believed in her changed her life. * The Freedom Writers * The book the Freedom Writers wrote and published. * How draws from her life experiences to help her manage her firm. Links * NexusPoint (https://www.thexocollaborative.com/) website * Sokhom Sek’s LinkedIn Profile (https://www.linkedin.com/in/sokhom-sek-9a9654a9/) * Erin Gruwell (https://en.wikipedia.org/wiki/Erin_Gruwell) * The Freedom Writers Diary (https://en.wikipedia.org/wiki/The_Freedom_Writers_Diary) * PBS special on the Freedom Writers (https://www.pbs.org/video/freedom-writers-stories-from-the-heart-jkr5ap/) Ask Angie Have a question that you’d like to have answered on a future podcast episode? Send your question — along with your name and the city you live in — to angie@aveafp.com (mailto:angie@aveafp.com).
14 Nov 2019
Ep. 29 – Taking Calculated Risks and Betting On Myself with Dr. Robyn Fisher
Ep. 29 – Taking Calculated Risks and Betting On Myself with Dr. Robyn Fisher My start in life, I was really quite lucky. Even as a young woman, I was surrounded by pretty amazing individuals. I might not have recognized it back then but so many of my women friends have grown up to do great things and really make an impact in the world. There’s Joy, or as I like to call her, General Joy, who I interviewed on two earlier podcasts, Ep 18 (https://www.aveafp.com/ep-18-every-forward-never-backwards-with-brigadier-general-joy-curriera/) and Ep. 19. (https://www.aveafp.com/ever-forward-never-backward-with-brigadier-general-joy-curriera-part-2/) Robyn was also a demonstrated leader even as early as junior high. As happens, we lost touch over the years, but through the magic of Facebook, I was able to hear tidbits of the cool things she was making happen, particularly in the area of access to higher education. We talk candidly about her own extensive education and background, building a business from the ground up for over 20 years, the challenges she faced, and most importantly, how she overcame them. Tune in to hear all the details. In this episode you’ll learn more about: * Her focus on helping kids prepare for college * Programs she runs throughout California and the nation. * Her advice to college-bound kids. * You’ll get to hear her amazing laugh. Oh, that takes me back!! Links * R.T. Fisher Educational Enterprises, Inc. (https://www.rtfisher.com/) * choosecollege4life.com (http://choosecollege4life.com/) * Watch our interview on YouTube. (https://youtu.be/pIl5AApN6uA) Ask Angie Have a question that you’d like to have answered on a future podcast episode? Send your question — along with your name and the city you live in — to angie@aveafp.com (mailto:angie@aveafp.com).
1 Aug 2019
EP 28 – Planner to Rocky Mountain Gen X & Y Techies With Lucas Casarez, CFP® Pro
EP 28 – Planner to Rocky Mountain Gen X & Y Techies With Lucas Casarez, CFP® Pro In this episode with fellow XY Planning Network advisor, Lucas Casarez of Level Up Financial Planning (https://www.levelupfinancialplanning.com/) we talk about how he serves younger clients who work in the tech industry in Colorado. In this episode you’ll learn more about: * What are some specific concerns for techies in that industry? * What does he do in his planning practice to make it fun? * What’s his new podcast about and where can you find it. * Where to see photos of his two adorable children. Links * Level Up Financial Planning (http://www.levelupfinancialplanning.com/) * Techie Personal Finance Bootcamp (https://www.levelupfinancialplanning.com/techie-personal-finance-bootcamp-podcast/) * Watch our interview on YouTube! (https://youtu.be/b-50wwKvXzk) Ask Angie Have a question that you’d like to have answered on a future podcast episode? Send your question — along with your name and the city you live in — to angie@aveafp.com (mailto:angie@aveafp.com).
11 Jul 2019
Ep. 27 – From PHS Band Teacher to Real Estate Investing Tycoon with Randy Hubbs
Ep. 27 – From PHS Band Teacher to Real Estate Tycoon with Randy Hubbs From fix and flip to single-family rentals to syndication, my guest on today’s podcast, Randy Hubbs, along with his wife Jana, has done it all over a nearly 40-year journey as a real estate investor. But to me and my peers, Randy is best known for being “Mr. Hubbs”, beloved high school band teacher in the ’80s, during my time at Pasco High School (https://www.psd1.org/Domain/91), here in the Tri-Cities (http://www.visittri-cities.com/). He continued his love of teaching and directing at Columbia Basin College (https://www.columbiabasin.edu/) for another 28 years before retiring and forging full steam ahead into real estate. I describe him as a real estate tycoon, all in good fun. But judging from his adventures in real estate investing, it goes to show that you cannot judge a book by its cover, band teacher or not. This guy’s story is truly amazing. He did it on a teacher’s salary, and you can too. Our 45-minute conversation is jam-packed full of his background as an educator turned real estate investor, how they got their first rental in his very first year teaching and what they did year after year to continue on their path to financial independence. As he said, he didn’t want to retire on a teacher’s salary. I’ve mentioned that I’m taking baby steps into the world of real estate investing. My first podcast conversation about real estate investing began with Hilario Zaragoza in Episode 24. (https://www.aveafp.com/real-estate-investing/) I am continuing to explore the ideas, terminology, and opportunities associated with real estate investing in my interview with Randy. He has done it all and has a breadth and depth of knowledge unlike anyone I’ve met. In this episode you’ll learn more about: * What influence family and upbringing had on them getting started in real estate. * How he handled a local real estate market crash, interest rates that were in the teens and the nationwide downturn of 2008. * Why they flipped houses early on and what they did after they had enough capital. * What they did after they got “Freddy and Fannie’d out”. * Key benefits of real estate investing * When building your real estate investment team, the most important question to ask your CPA. * How they handled being audited by the IRS, not once but 3 times. * What big names in real estate they now consider friends and what areas they actively invest in right now. * What do Tennessee, Texas, and Belize have in common? * His 2 key pieces of advice to those wanting to get started in real estate investing. Links * Equity First Home Group and Investment Housing Specialists (https://investmenthousingspecialists.com/) – Randy’s businesses * Rich Dad Poor Dad by Robert Kiyosaki (https://www.amazon.com/dp/1612680194?tag=amz-mkt-chr-us-20&ascsubtag=1ba00-01000-org00-win10-other-smile-us000-pcomp-feature-scomp-wm-5&ref=aa_scomp) * Rich Dad Poor Dad for Teens (https://www.amazon.com/Rich-Dad-Poor-Teens-Money-That-ebook/dp/B0175P5O9E) by Robert Kiyosaki * Real Estate Goddesses Podcast, Interview with Jana Hubbs (http://www.blogtalkradio.com/reig/2017/07/19/teacher-turned-real-estate-entrepreneur--interview-with-jana-hubbs) * <a href="https://www.applebrookeincomefund.
30 May 2019
Ep. 25 – From Podcasting to Physics With Brenden Davis
Ep. 25 – From Podcasting to Physics With Delta High School Intern Brenden Davis Today is one week from the most special day for many high school students: Graduation! One such high school student happens to be my intern, Brenden Davis. Brenden and I have been working together for almost one year now. Just like last year, I wanted to have an interview with him about his thoughts on the internship and his plans for the future, which involve everything from physics to psychology. Brenden shares with us his views on the internship, which were very positive (yeah!). He shares his side of the story for the past year, from working with technical mishaps to the better parts of the job. Afterward, he talks about his plans for the future, and boy are they plentiful. He’s planned out almost every step in his life, from what’s next, to his retirement; everything from Physics to computers, both science and more non-scientific pursuits. First up is WSU Tri-Cities (https://tricities.wsu.edu/), then it’s off to Pullman and beyond. Stay tuned to hear the wonderful ideas for what’s next in the life of this young physics savant. Links * Delta High School (http://www.thedeltahighschool.com/) * SpaceX (https://www.spacex.com/) * WSU TC (https://tricities.wsu.edu/) * WSU Pullman (https://wsu.edu/) Be sure to check out our interview with last year’s intern (https://www.aveafp.com/lexi_mcbreairty/), or the Work Based Learning internship coordinator from Delta High School (https://www.aveafp.com/ep/) Ask Angie Have a question that you’d like to have answered on a future podcast episode? Send your question — along with your name and the city you live in — to angie@aveafp.com (mailto:angie@aveafp.com).
9 May 2019
Ep. 24 – Real Estate Investing to a Richer Life With Hilario Zaragoza
Ep. 24 – Real Estate Investing to a Richer Life With Hilario Zaragoza (My apologies about the quality of the audio. I goofed something up, totally my fault. But the interview is so, so worth listening to, so hang in there.) Flipping, wholesaling, syndication, landlording, assigning, lease/options, rehabbing, BRRRR, abandoned properties, probates, auctions, REOs, land, mobile parks, self-storage, single family, multi-family and commercial properties; these are the terms of real estate investing. I’ve been attending my local Real Estate Investor meetups here in the Ti-Cities and I’ve picked up a bit of the lingo in the last few months, can’t you tell. My husband and I have had a rental for 15 years. It was our very first house, so cute that I couldn’t bear to part with it. My babies were born there, well not actually THERE, but while we lived there and it still kills me when people put nails in the beautiful plaster walls. I know, it isn’t the most ideal rental because of that deep, emotional connection, but I’m looking to expand my knowledge and consider new ways to acquire less emotionally-loaded properties. That led me to check out the local auction on a recent Friday literally at the steps of the Franklin County Courthouse (https://www.co.franklin.wa.us/commissioners/courthouse_history.php) (a beautiful building located in Pasco, WA and listed on the National Register of Historic Places). The 9 am auction I intended to observe, not participate in, was postponed, and I learned there was another at 10. I waited around and was chatting it up with the folks that were also waiting around. So that’s when I met my guest, Hilario Zaragoza, of Empire Bros Construction. We waited at least another 75 minutes to see if the next auction would go (it didn’t) and we talked much of that time. Asking lots of questions, I learned about his background, how he came to be a business owner and end up there at the auction that day. His story is one that I think will resonate with a lot of people who have the fear of starting something that they don’t know much about. He’s overcome a lot of obstacles, but man, does he have his head screwed on straight. He’s got BHAG, big hairy audacious goals that all start with real estate investing. You won’t want to miss this episode. In this episode, you’ll learn more about… * Where he got his start in construction. * How construction has helped him get closer to his real estate investing goals. * What is his exact process in finding, buying, rehabbing and selling a home. * What are some of the most important things to consider when bidding or buying a home to rehab and sell. * How he views risk. * How many siblings are involved in the business and their philosophy on debt. * What he thinks is the key to success. * What his vision is for his business. Links * Empire Bros. Construction (https://www.homeadvisor.com/rated.EmpireConstruction.72354922.html) * Auction.com Site (https://www.auction.com/) * Real Estate Investors of Tri-Cities Facebook Page (https://www.facebook.com/groups/843156625726981/) Ask Angie Have a question that you’d like to have answered on a future podcast episode? Send your question — along with your name and the city you live in — to angie@aveafp.com (mailto:angie@aveafp.com). Did you miss the last episode? Listen here. (https://www.aveafp.com/wa529-plans/)
18 Apr 2019
Ep. 23 – WA529 Plans. The Best Decision You’ll Ever Make
Ep. 23 – WA529 Plans. The Best Decision You’ll Ever Make 529 plans in Washington State had a year full of growth and change. Today we talk to Luke Minor, new Program Director of the Washington College Savings Plans (which is both the original Guaranteed Education Tuition program, GET for short and DreamAhead College Investment Plan. We are also joined by Jackie Ferrado who as Community Relations Manager, travels around Washington to communities large and small, to educate people on the benefits of using a 529 plan to help save for their child’s higher education. 529 Day is coming up on May 29th. In spite of our nation’s student loan crisis and the recent attention on the college admissions scandals, people still don’t know much about 529 plans which are designed for college savings. We had a little fun playing Debunk the 529 Myth game. I must say, Luke and Jackie know their stuff. Depending on what study you read or trust, the majority of Americans don’t know what a 529 plan is and do not plan to use it to save for college. That is unfortunate. When I plan with families, we use a multipronged approach to saving and paying for college with the 529 plan at the core. We add in taxable accounts, Roth IRA accounts for both parent and student, grandparent gifting strategies, cash flow, tax scholarships and more in fully rounding out our plan to pay for all 4 years. Why do we spend so much time in looking at this from every angle? Because at this time, there is approximately $1.6 trillion (http://collegedebt.com/) in student loan debt, with the fastest growing segment attributed to those over 60!! Who wants to be paying down student debt when you are wanting to retire? At the end of 2018, there were 13.8 million 529 plan accounts with $311.1 billion in assets. (https://www.ici.org/research/stats/529s/529s_18_q4) In this episode you’ll learn more about: * What are 529 plans and how do they work. * The differences between the two types of plans, prepaid and investment. * The strength of the GET guarantee. * Updates on the transition that took place last year. GET holders had 3 options, stay in the GET plan, rollover to the new DreamAhead plan at incentive payout rate, or get a refund and how did all that play out. * The actual numbers of those that rolled over or stayed and what kind of additional units did those who stayed receive. * We talk about current proposals to 529 plan rules that might allow more flexibility such as using those funds to pay off student loans * The best part, 529 myth busters! Tune in to hear all the details. Links * WA529 Washington College Savings Plans (https://wastate529.wa.gov/) * College Savings Plan Network (https://www.collegesavings.org/) * Article by Luke Minor, And Now For Something Completely Different? and the confusion around the terms. (https://www.collegesavings.org/and-now-for-something-completely-different/) * Joe Messinger of Capstone Wealth Partners Blog on 529 myths (https://www.capstonewealthpartners.com/529-myths-prevent-understanding-of-this-college-savings-tool/) * Past video discussing the changes to the GET and new DreamAhead (https://www.youtube.com/channel/UC0O0cCLuhF0ghFPl79Qecqw?view_as=subscriber) * Ready Set Grad (https://readysetgrad.wa.gov/) Ask Angie Have a question that you’d like to have answered on a future podcast episode?
28 Mar 2019
Ep. 22 – Parent Plus Loans, Caveat Emptor with Travis Hornsby of StudentLoanPlanner.com
Parent Plus Loans, Caveat Emptor with Travis Hornsby of StudentLoanPlanner.com Hey parents. If you’ve ever needed a healthy dose of reality when considering borrowing large amounts of money for college, you’ve got to listen to today’s episode with Travis Hornsby. He’s seen over 2000 different borrower outcomes of clients who have come to him and his fellow CFP® and CFA® advisors, through his business, Student Loan Planners.com. Let’s just say, those outcomes are not usually pretty. His average client has $280,000 in student debt and is coming to him after the fact. A little-known statistic is that the fastest growing segment of student loan borrowers are folks over 60. That’s right, they’ve got a new “mortgage” to pay off in the form of Parent Plus loans right at the time they are considering their own retirement. He says they don’t advertise it, but they can do pre-debt planning for grad or professional track wannabes. I’m a financial planner who helps people plan on the front-end to avoid getting into college debt problems, so I think this is a great, great thing. 2. Why he focuses on millennials. 3. How much a parent can borrow using a Parent Plus Loan and the costs for those. 4. What we mean when we say that financial aid officers are not financial advisors, and not a fiduciary. 5. The problem with “free” advice. 6. The process they take their clients through to help them figure out what to do to pay down debt. 7. The implications of being married and why your CPA might not have any idea why you should file separately. 8. What has changed about the economies of certain professions, like pharmacists and who to talk to to get a real idea of the outlook in certain careers. 9. Why he is not in favor of 6-7 year programs that take you straight into your profession. 10. His final piece of advice. Important Links * Student Loan Planner (https://www.studentloanplanner.com/) * Student Loan Planner podcast (https://www.studentloanplanner.com/category/podcast/) * The official Federal Student Aid site for Parent Plus loans (https://studentaid.ed.gov/sa/types/loans/plus/parent) Previous – Ep. 21 – The Millionaire Next Door in You with Sarah Fallaw of DataPoints (https://www.aveafp.com/ep-21-the-millionaire-next-door-in-you-with-sarah-fallaw/)
7 Mar 2019
Ep. 21 – The Millionaire Next Door in You With Dr. Sarah Stanley Fallaw of DataPoints
The Millionaire Next Door in You With Dr. Sarah Stanley Fallaw of DataPoints Are you the kind of person who never wins things like contests or drawings? Well, I’m not. Amazingly, I win a lot of times. Nothing super big, like a car or vacation. But when I attended the XY Planning Network annual conference in 2017, I visited the DataPoints vendor booth. I knew a lot about the Millionaire Next Door books, had read or listened to them all and when I found out that Sarah was Dr. Stanley’s daughter I had to go visit. I’m not that gushing fan type, and I’m not sure financial books warrant that kind of fan worship anyway. But I was a fan, a big fan. I believed in the millionaire next door concepts and honestly identified with the characteristics that Dr. Stanley and Dr. Fallaw talk about in their books. So getting back to winning. At her booth, they had a drawing for a free year of their awesome software for advisors. I put my card in, and turns out, I won! I feel like it was meant to be. Since then, Sarah and I have met again and talked a few times about how best to serve clients in understanding their own helpful or disruptive behaviors. At DataPoints, they coined the term, “the science of building wealth”. And there’s a lot of science behind the research into the millionaire mindset. We talk in our interview about the 6 wealth factors that they have determined to influence wealth building attitudes. I know from my own experience and hours of listening to clients and students talk about money and their situation, how critical the behavior behind the actions are. And to know that we have control over our own behavior, especially once identified, gives us the power to increase our wealth building potential. Her story, her science, her findings are fascinating. They build upon the deep body of work that her dad started back in the ’90s. Tragically, Dr. Stanley was killed by a drunk driver in 2015. But Sarah, has carried on his legacy and expanded on his ground-breaking work. Her most recent book “The Next Millionaire Next Door: Enduring Strategies for Building Wealth,” (https://www.amazon.com/Next-Millionaire-Door-Enduring-Strategies/dp/1493035355/ref=asc_df_1493035355/?tag=hyprod-20&linkCode=df0&hvadid=312106851030&hvpos=1o1&hvnetw=g&hvrand=17781175899870093371&hvpone=&hvptwo=&hvqmt=&hvdev=c&hvdvcmdl=&hvlocint=&hvlocphy=9033799&hvtargid=pla-555049528057&psc=1) updates us even more science behind the traits of 600 millionaires and how they built wealth. I think the biggest take away from reading the books and talking to Sarah is that any of us can become a millionaire. It does not happen overnight. But it also does not happen by accident. You can take the Wealth Potential assessment here (https://www.aveafp.com/wealthpotential/). Be sure to listen and learn about the 6 predictive wealth factors. In today’s episode, you’ll hear more about: * Who Dr. Sarah Stanley Fallaw is. * The Millionaire Next Door book series. * What DataPoints is. * How millionaires are the same yet different from other people. * The behavior traits that could help make you a “Millionaire Next Door”. * How to improve those traits. * How DataPoints came to be. * How to use what you learned. * Her final piece of advice. Links * DataPoints (https://www.datapoints.com/) * <a href="https://www.amazon.com/Next-Millionaire-Door-Enduring-Strategies-ebook/dp/B07G5HHFW6/ref=sr_1_1?keywords=next+millionaire+next+door&qid=1554521897&s=gateway&sr=8-1" target="_blank" rel="...
14 Feb 2019
Ep. 20 – From the Flip of a Coin With Red Mountain Vintner, Shae Frichette, Frichette Winery
Ep. 20 – From the Flip of a Coin With Red Mountain Vintner, Shae Frichette, Frichette Winery Red Mountain AVA is alive with entrepreneurial and community-minded folks like Shae and Greg Frichette of Frichette Winery (https://frichettewinery.com/). Shae joins me on this episode of Financial Side of Life (https://www.aveafp.com/financialsideoflife/) to talk about her journey all the way from rural South Carolina to the wine country on Red Mountain in Washington State. Red Mountain is an area just outside of Benton City and is named for the color of the cheatgrass that grows in the area during the spring. It is becoming a well-known and respected AVA due to the epic combination of great prehistoric glacial flood and volcanic soil and warm days with cool nights. It turns out, these are ideal conditions for growing high-quality grapes. We’ll learn about her background in corporate America and how that has played a role in helping them overcome some of the inevitable challenges they faced along the way. Shae attended Winthrop University (https://www.winthrop.edu/) and picked up some student loans along the way that she is proud to say are completely paid off. She tells us how she did that. You might appreciate a peek into how a startup winery gets off the ground with inexperienced new parents at the controls. She tells stories of how they got the money and the land on Red Mountain to get started and about the decisive flip of a coin that decided it all. In this episode you’ll also learn about: 1. How did Shae and her husband end up on Red Mountain in the Tri-Cities. 2. How the decision to open a winery was made. 3. What fears they had in starting the winery and how they overcame them. 4. The attributes that Shae brings to her business. 5. The importance of her community involvement. 6. Long term plans of the winery on Red Mountain. 7. What she thought she would grow up to be and how her life is different than she imagined. 8. How being a parent has changed things. 9. Where she will be in 20 years. Links * Frichette Winery (https://frichettewinery.com/) * Washington State Wines (https://www.washingtonwine.org/wineries) Ask Angie Have a question that you’d like to have answered on a future podcast episode? Send your question — along with your name and the city you live in — to angie@aveafp.com (mailto:angie@aveafp.com).
24 Jan 2019
Ep. 19 – Ever Forward, Never Backward With Brigadier General Joy Curriera Part 2
Ep. 19 – Ever Forward, Never Backward with Brigadier General Joy Curriera, Part 2 Welcome back to the second part of our conversation with my high school friend and Army Brigadier General, Joy Curriera. If you didn’t listen to the first half, be sure to do that here (https://www.aveafp.com/ep-18-every-forward-never-backwards-with-brigadier-general-joy-curriera/). In this episode, we continue to learn more about her amazing career and life path. She tells us about working in the world’s largest office, the Pentagon, and how close she came to being injured in the 9/11 attacks. She touches on the importance of leadership, relationships, her barrier-breaking promotion to Brigadier General in July of 2018 and how it all ties back to volleyball. In her own words, she is “just Joy”, a local, Pasco farm girl who was capable of going far in life, living the American dream. Be sure to listen all the way to the end to hear how she came up with her personal motto, Ever Forward, Never Backward, the surprise I discovered and her advice to listeners. Links * Joy’s Bio (http://www.acsim.army.mil/leaders/leadership_od.html) * Pasco, Washington (https://www.pasco-wa.gov/) * TCH Article about Joy (https://www.tri-cityherald.com/news/local/article214279649.html) * Pentagon (https://www.defense.gov/) * 9/11 Memorial (https://washington.org/dc-guide-to/pentagon-memorial)
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