What is a Health Savings Account (HSA) and is it a good money move for you?

With open enrollment right around the corner, I am going to break down everything Health Savings Account today. Here's what you will hear on the show today:

• How does an Health Savings Account Work?
• Who is eligible and who is not?
• How much can I contribute to an HSA?
• What are the tax benefits?
• Employed versus Self-Employed?
• Best places to open HSA?

And most importantly - How do I determine if an HSA is a good plan for me?

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Mentioned in this episode

• Best Place to Open an Health Savings Account

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Are you currently living on a plan for your life and money...AKA a budget?

The #1 habit of the most highly successful people is they are proactive. They don't wait for life and money to happen to them, they happen to their life and money.

If you haven't started yet, now is the best time to start living on a simple budget. It's time to be proactive.

Grab Free Budget Templates Here

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Thanks so much for listening to the show and if you feel the content of this podcast was helpful, please subscribe and leave a review!

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Today's show was brought to you by OneAZ Credit Union — my very own credit union I have been proud a member of since 2011. 

If you live in Arizona and are looking for a large credit union with a local, customer-focused feel for your personal or business banking needs, look no further than OneAZ Credit Union.

 

All the show notes, links and anything I mentioned can be found at https://www.moneypeach.com/session173

Do you have IRS problems or maybe worried that your tax situation may not be as good as you thought?

Or, are you a victim of identity theft and the IRS is telling you owe money you really don't owe?

First off — you're not alone. Whether you owe the IRS or you are trying to prove you don't owe the IRS, what are your options?

What can you do right now?

What should you be doing right now?

And what are your rights when it comes to managing a situation with the IRS?

I will be asking our IRS expert Ben Golden all of this and more when it comes to dealing with the IRS.

Mentioned in the Episode:

👉 https://irstroublesolvers.com

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Thanks so much for listening to the show and if you feel the content of this podcast was helpful, please subscribe and leave a review!

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Today's show was brought to you by OneAZ Credit Union — my very own credit union I have been proud a member of since 2011. 

If you live in Arizona and are looking for a large credit union with a local, customer-focused feel for your personal or business banking needs, look no further than OneAZ Credit Union.

All the show notes, links and anything I mentioned can be found at https://www.moneypeach.com/session172

When it comes time to drive off a new car, you have three basic options:

1. You can pay cash
2. You can get an auto loan 
3. You can drive off with a lease

But with the average price of a new car at almost $41,000, most drivers today are driving off the lot with either an auto loan or a lease.

❓ But which is better - an car lease or an auto loan?

What are the costs that go with each?

And how do you know if you're making the best financial decision when it comes to driving your next car?

Is there something we are missing when comparing the two?

Today on the show, I will compare the auto loan and car lease, so you can decide which is the best way to drive off the lot in a new car.

But, to start off, the simplest way to separate an auto loan and a lease is by understanding that an auto lease allows you to DRIVE the new car, whereas an auto loan allows you to DRIVE and BUY the car.

❗ ❗ Of course there’s a lot more to it and to tell the whole story let’s jump right in.

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Thanks so much for listening to the show and if you feel the content of this podcast was helpful, please subscribe and leave a review!

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Today's show was brought to you by OneAZ Credit Union — my very own credit union I have been proud a member of since 2011. 

If you live in Arizona and are looking for a large credit union with a local, customer-focused feel for your personal or business banking needs, look no further than OneAZ Credit Union.

All the show notes, links and anything I mentioned can be found at https://www.moneypeach.com/session171

On the show today I am breaking down the Cash-Out Refinance strategy.

Many people are noticing a high uptick in the value of their homes, and with this uptick in value comes an increase in home equity.

So what can you do with the equity in your home, how does it work, and what are the risks?

In this episode I am going to break down:

• How to calculate your home's equity
• How much of the equity you can actually tap into
• The process of of a cash-out refinance
• Reasons for going with a cash-out refi
• The risks the banks forge to tell you about

 

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Thanks so much for listening to the show and if you feel the content of this podcast was helpful, please subscribe and leave a review!

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Today's show was brought to you by OneAZ Credit Union — my very own credit union I have been proud a member of since 2011. 

If you live in Arizona and are looking for a large credit union with a local, customer-focused feel for your personal or business banking needs, look no further than OneAZ Credit Union.

All the show notes, links and anything I mentioned can be found at https://www.moneypeach.com/session170

On the show today is America's #1 Money Mentor, Chris Naugle.

I'll be honest — I brought Chris to have a conversation on a topic we don't agree on...infinite banking.

If you haven't heard of infinite banking before, you're perfectly normal. It's not a very popular term in the financial world and most financial gurus like Dave Ramsey and Suze Orman are completely against it.

But, what I've learned over the years in this world of personal finance is not every guru is always right.

Therefore, I decided to say "yes" to my guest today so I can ask him the hard questions about...

• how infinite banking works
• why it is (or is not) a scheme
• the risks
• do you have to wealthy to utilize infite banking
• are there better alternatives

Now, we will dive into infinite banking in depth, but here is the sceanrio/example he used inside the episode:

👉 You deposit $1,000 into a whole life cash value life insurance plan (yes, you read that correctly...and I was cringing when he said it).

👉 The life insurance plan pays out 4% guaranteed return plus non-guaranteed dividends. The dividends in this scenario were 2%. Therefore, your return is 6%.

👉 Then you immediately borrow from the life insurance plan $900, while your $1,000 remains inside the plan earning 6%. You borrow the $900 at 5%, earning a 1% spread.

👉 Next you take the $900 that you are paying 5% while earning 6% on your $1,000 and you use it to pay off high interest debt, to save, or to invest.

In theory, this looks great on paper. But, I had a lot of questions and concerns with this strategy and kudos to Chris Naugle (my guest) for answering every question I throw at him.

Mentioned in the Show

Learn more about Chris Naugle and Infinite Banking Here.

Watch the Free 90-minute webinar with Chris

Free Book: Mapping Out the Millionaire Mystery by Chris Naugle

[Watch] Dave Ramsey on Infinite Banking

Follow Chris on all social channels @thechrisnaugle

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Thanks so much for listening to the show and if you feel the content of this podcast was helpful, please subscribe and leave a review!

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Today's show was brought to you by OneAZ Credit Union — my very own credit union I have been proud a member of since 2011. 

If you live in Arizona and are looking for a large credit union with a local, customer-focused feel for your personal or business banking needs, look no further than OneAZ Credit Union.

All the show notes, links and anything I mentioned can be found at https://www.moneypeach.com/session169

There are so many strategies to building wealth and we try to explore all of them on this show.

Today I am interviewing an expert in multifamily real estate investing - Gino Barbaro.

Gino, and his partner Jake, are both experts in multifamily real estate investing and have achieved.

They are NOT from the financial world...meaning they didn't get a PhD in finance and then build their wealth. Nope, Gino was a pizza restaurant owner and Jake was a pharmaceutical rep...which just shows us that everyday people like you and I are learning AND actually building wealth.

Jake and Gino also have an entire website with multiple podcasts dedicated to showing you how to get started in real estate.

Jake and Gino

Learn more about Jake and Gino here.

The Book: Wheelbarrow Profits

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Thanks so much for listening to the show and if you feel the content of this podcast was helpful, please subscribe and leave a review!

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Today's show was brought to you by OneAZ Credit Union — my very own credit union I have been proud a member of since 2011. 

If you live in Arizona and are looking for a large credit union with a local, customer-focused feel for your personal or business banking needs, look no further than OneAZ Credit Union.

All the show notes, links and anything I mentioned can be found at https://www.moneypeach.com/session168

 

Have you ever tried using cash envelopes but realized it wasn't a lot of fun?

 

You know...carrying around envelopes full of cash at the grocery store or pulling out that sexy envelope container at dinner with friends?

 

Well, what if there was a way to use cash envelopes 100% electronically AND still having the same results of curbing the overspending?

 

Today on the show, I am bringing on founder of Qube Money, Ryan Clark, to explain how Qube allows you to use digital envelopes to help you manage your money.

 

***IT'S REALLY REALLY COOL!**

 

Qube Money

Learn more about Qube Money here.

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Thanks so much for listening to the show and if you feel the content of this podcast was helpful, please subscribe and leave a review!

**

Today's show was brought to you by OneAZ Credit Union — my very own credit union I have been proud a member of since 2011. 

If you live in Arizona and are looking for a large credit union with a local, customer-focused feel for your personal or business banking needs, look no further than OneAZ Credit Union.

All the show notes, links and anything I mentioned can be found at https://www.moneypeach.com/session167

 

On the show today, I am going to explain what a brokerage account is and how to open one.

There are three different ways to start investing in the stock market:

1. Through a Financial Planner or Financial Advisor
2. A Self-Directed Brokerage Account
3. A Robo-Advisor

Since it's pretty self-explanatory on how to get set up with a financial advisor, the purpose of this episode is to show you how to open up a self-directed brokerage account and/or how to get started with a robo-advisor.

By the end of this episode, you will have a better understanding of how each works, which will help you make your decision on which is best for your investment style!

BONUS

VIDEO: The Backend of My Own Investment Account

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Thanks so much for listening to the show and if you feel the content of this podcast was helpful, please subscribe and leave a review!

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Today's show was brought to you by OneAZ Credit Union — my very own credit union I have been proud a member of since 2011. 

If you live in Arizona and are looking for a large credit union with a local, customer-focused feel for your personal or business banking needs, look no further than OneAZ Credit Union.

All the show notes, links and anything I mentioned can be found at https://www.moneypeach.com/session166

Did you know you can generate passive income and/or diversify your retirement portfolio through Hard Money Lending?

A hard money loan is an interest-only short-term loan primarily used in real estate with the loan being secured by property.    In a nutshell, you become the "bank" and you lend money to borrowers and receive monthly interest payments just like a bank would receive monthly monthly payments from a mortgage borrower.   The only difference is you (the bank) can charge much higher interest between 10% and 18%, whereas the bank's current rates are right around 3.5%.   If you have a equity in your home, a pile of cash lying around, or you are looking to diversify your portfolio — hard money lending may be a great option for you.   BONUS

As a hard money lender myself, I will show you exactly how I am lending hard money each month. I will share with you some tricks I have learned along the way and share with you my exact numbers for you to see exactly how it works.

Also, make sure to download the templates I use as far the paperwork required prior to lending.

 

Mentioned in this episode

• Episode 162: How Does a HELOC work?
• Episode 164: What is the BEST Mortgage for Me Right Now?

 

• eForms: Promissory Note Template
• Vantage IRAs: Self-Directed IRAs

 

Thanks so much for listening to the show and if you feel the content of this podcast was helpful, please subscribe and leave a review!

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Today's show was brought to you by OneAZ Credit Union — my very own credit union I have been proud a member of since 2011. 

If you live in Arizona and are looking for a large credit union with a local, customer-focused feel for your personal or business banking needs, look no further than OneAZ Credit Union.

All the show notes, links and anything I mentioned can be found at https://www.moneypeach.com/session165

On the show today, I am going to break down 5 different mortgage loans you should know about:

1. Conventional Loan
2. Jumbo Loan
3. FHA Loan
4. VA Loan
5. USDA Loan

By the end of the show, you will have an understanding for each of these different mortgages work and which one is best for you.

Enjoy the show!

Mentioned in this episode

• Episode 132: How to Improve Your Credit Score
• FHA Loan Limits by County and State
• Free Personal Budget Download

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Thanks so much for listening to the show and if you feel the content of this podcast was helpful, please subscribe and leave a review!

**

Today's show was brought to you by OneAZ Credit Union — my very own credit union I have been proud a member of since 2011. 

If you live in Arizona and are looking for a large credit union with a local, customer-focused feel for your personal or business banking needs, look no further than OneAZ Credit Union.

All the show notes, links and anything I mentioned can be found at https://www.moneypeach.com/session164

Diania Merriam is on the show today to share her story of reaching financial independence in her 30s.

After living in New York City in her 20s and racking up $30k in debt, Diania decided enough was enough and it was time to change her mindset about money.

What would it be like to reach financial independence? 

After making the choice to turn away from her old financial habits, Diania shares how she reached financial independence in her 30s.

She shares how she:

• Changed her belief about money and consumerism
• How she paid off $30k in 11 months
• How she saves 60% of her income!
• Taking a 2 month sabatical and to backpack 500 miles through Spain
• Starting her own conference for like-minded people

Diania is also the founder of the EconoME Conference , a conference in Cincinnati each year where like-minded people get together to share their new found beliefs around financial independence, financial freedom, and early retirement.

BONUS: Use Promo Code "MONEYPEACH" to get a nice little discount on ticket prices to conference.

Even if you have no desire to attend the conference (which I will be attending and I would love to see you there), you'll still want to listen to Dania's story and how she dispells the myths about reaching financial independence.

Mentioned in this episode

• The EconoME Conference
• Diania's YouTube Video Making Her Last Debt Payment
• The Motley Fool

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Thanks so much for listening to the show and if you feel the content of this podcast was helpful, please subscribe and leave a review!

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Today's show was brought to you by OneAZ Credit Union — my very own credit union I have been proud a member of since 2011. 

If you live in Arizona and are looking for a large credit union with a local, customer-focused feel for your personal or business banking needs, look no further than OneAZ Credit Union.

All the show notes, links and anything I mentioned can be found at https://www.moneypeach.com/session163