The Modest Millions Show - Personal Finance, Budgeting, Early Retirement, Financial Independence and Getting Out of Debt Tips for Average Folks

The Modest Millions Show - Personal Finance, Budgeting, Early Retirement, Financial Independence and Getting Out of Debt Tips for Average Folks

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Personal Finance, Budgeting, Early Retirement, Financial Independence and Getting Out of Debt Tips for Average Folks
MM019: 15 Personal Finance Resolutions for the New Year - The Modest Millions Show - Personal Finance, Budgeting, Early Retirement, Financial Independence and Getting Out of Debt Tips for Average Folks
Jan 8 • 28 min
We come into January energized and refreshed to conquer the world. We set ambitious resolutions so we can better ourselves and achieve our goals. And then, almost as quickly as we made the resolutions, our resolve falters and we give up on our New Year’s…
MM018: The Importance of Reflecting at Year’s End - The Modest Millions Show - Personal Finance, Budgeting, Early Retirement, Financial Independence and Getting Out of Debt Tips for Average Folks
Dec 29, 2017 • 18 min
This time of year, specifically during the week between Christmas and New Year’s, I always like to take a beat to reflect on the previous year and do some heavy planning for the upcoming year. It’s usually pretty quiet at work and at home (with the…
MM017: How We Cut the Cord Without Losing Our Sanity - The Modest Millions Show - Personal Finance, Budgeting, Early Retirement, Financial Independence and Getting Out of Debt Tips for Average Folks
Dec 29, 2017 • 35 min
Almost exactly a year ago, we cut the cord and ditched our cable. Along the way, we learned a few things that might be helpful to you as you consider cutting the cord. The fact is, nobody needs a 200-channel cable package; you’re just paying for extra…
MM016: How to Find Your Side Hustle - The Modest Millions Show - Personal Finance, Budgeting, Early Retirement, Financial Independence and Getting Out of Debt Tips for Average Folks
Aug 7, 2017 • 28 min
I’ve been known to have an idea or two for a side hustle. Some are ridiculous ideas. Some are impossible ideas. Some ideas are so far-fetched I don’t know how in the world I came up with them. And then some ideas are solid, feasible, actionable and…
MM015: How to Create a Money Binder - The Modest Millions Show - Personal Finance, Budgeting, Early Retirement, Financial Independence and Getting Out of Debt Tips for Average Folks
Jul 19, 2017 • 23 min
If you manage your family’s personal finances, what would happen if the worst happened and you were no longer “available” to manage the household finances? In our house, I manage the finances, and Mrs. Modest is perfectly okay with that. If something…
MM014: The Simple Math of Calculating Inflation in Retirement - The Modest Millions Show - Personal Finance, Budgeting, Early Retirement, Financial Independence and Getting Out of Debt Tips for Average Folks
Jul 3, 2017 • 19 min
Figuring out how to calculate how inflation affects your retirement savings is made out to be a super-complicated process, requiring advanced math skills. What’s frustrating is that calculating how your retirement savings is impacted by inflation isn’t…
MM013: The Power of Small Dollars for Personal Finance - The Modest Millions Show - Personal Finance, Budgeting, Early Retirement, Financial Independence and Getting Out of Debt Tips for Average Folks
Jun 15, 2017 • 18 min
There’s this misperception out there that you need to have a bunch of money socked away before you can invest in either a retirement account or taxable account. Some of this advice comes from popular pundits who promote a debt-free-first lifestyle, some…
MM012: Price is What You Pay Value is What You Get - The Modest Millions Show - Personal Finance, Budgeting, Early Retirement, Financial Independence and Getting Out of Debt Tips for Average Folks
Jun 1, 2017 • 26 min
As a proud budgeteer, I’ll be the first to admit that I say “no” more often than I say “yes” when it comes to budget decisions. But sometimes, you need (or want) to flex your budget to make room for various purchases. So, how do you figure out the best…
MM011: A Tribute to Moms - The Modest Millions Show - Personal Finance, Budgeting, Early Retirement, Financial Independence and Getting Out of Debt Tips for Average Folks
May 16, 2017 • 5 min
Let’s take a quick departure from our regularly scheduled personal finance programming to talk about moms, specifically about the two most important moms in my life, Mama Modest and Mrs. Modest. It’s because of the money management principles that my mom…
MM010: Setting SMART Personal Finance Goals - The Modest Millions Show - Personal Finance, Budgeting, Early Retirement, Financial Independence and Getting Out of Debt Tips for Average Folks
May 8, 2017 • 19 min
That which is measured improves. Easier said than done when you’re trying to figure out your personal finance goals for the next 30 years. So how do you keep you personal finance goals on track? It all starts with SMART goal setting. In this episode we’ll…
MM009: Being Happy with “Having Enough” - The Modest Millions Show - Personal Finance, Budgeting, Early Retirement, Financial Independence and Getting Out of Debt Tips for Average Folks
May 1, 2017 • 10 min
Society encourages us to work hard so we can keep working our way up the corporate ladder so we can ultimately find success at the top. Along the way, we’ll see our income increase and almost inevitably so will our lifestyle. But, as we’re chasing…
MM008: Roth vs. Traditional IRA Which is Right for Me? - The Modest Millions Show - Personal Finance, Budgeting, Early Retirement, Financial Independence and Getting Out of Debt Tips for Average Folks
Apr 26, 2017 • 35 min
What do you do when you have the option to contribute to either a Roth IRA or a traditional IRA? Is it better to take the tax break now in the hopes that the added investment juice and a projected lower tax rate in retirement leads to a larger nest egg?…
MM007: Tax Day Takeaways - The Modest Millions Show - Personal Finance, Budgeting, Early Retirement, Financial Independence and Getting Out of Debt Tips for Average Folks
Apr 17, 2017 • 9 min
Today is Tax Day in the U.S. It’s a day dreaded by many, but hopefully this year’s tax season was relatively stress-free and free of any major surprises for you. As we wrap up one tax year and plan for the next, it’s time to look back at what you would…
MM006: Understanding Retirement Accounts: IRAs - The Modest Millions Show - Personal Finance, Budgeting, Early Retirement, Financial Independence and Getting Out of Debt Tips for Average Folks
Apr 10, 2017 • 29 min
Sometimes you don’t have access to a 401(k). Sometimes you want to have more control over which funds you’re investing in. Sometimes you just want to have more retirement savings vehicles available to you. The IRA is the unheralded hero of the modern-day…
MM005: Understanding Retirement Accounts: Traditional 401(k) - The Modest Millions Show - Personal Finance, Budgeting, Early Retirement, Financial Independence and Getting Out of Debt Tips for Average Folks
Apr 3, 2017 • 34 min
You’ve heard of 401(k)s at work, and heck you might (hopefully!) contribute to one. But do you really know how they work and how they can maximize your retirement savings? Let’s dive in and learn more about the Traditional 401(k) account. IN THIS WEEK’S…
MM004: What is the 4% Rule and is it Right for Me? - The Modest Millions Show - Personal Finance, Budgeting, Early Retirement, Financial Independence and Getting Out of Debt Tips for Average Folks
Mar 27, 2017 • 40 min
Have you heard about the 4% Rule and how you can use it to safely make withdrawals from your savings in retirement? It can be a simple rule of thumb to make sure you’re able to withdraw enough money to cover your retirement expenses without needing to…
MM003: The New Retirement Model and the Goldilocks Goal - The Modest Millions Show - Personal Finance, Budgeting, Early Retirement, Financial Independence and Getting Out of Debt Tips for Average Folks
Mar 13, 2017 • 16 min
“Retirement” is such a dated term. It conjures images of senior citizens who have worked their whole life, only to retire with nothing to do. What if, instead, people gained financial independence so they could have the option to put their life skills to…
MM002: How to Set Up a Budget - The Modest Millions Show - Personal Finance, Budgeting, Early Retirement, Financial Independence and Getting Out of Debt Tips for Average Folks
Mar 12, 2017 • 15 min
Today, we tackle how to set up a budget, the cornerstone of any personal finance plan. The household budget is where it all starts, and without a firm foundation in place, it’s easy for our long-term savings and retirement goals to slip from our grasp.…
MM001: Breaking the Rules of Retirement: A Manifesto - The Modest Millions Show - Personal Finance, Budgeting, Early Retirement, Financial Independence and Getting Out of Debt Tips for Average Folks
Mar 12, 2017 • 14 min
On today’s inaugural episode, we talk about the goals and objectives the podcast, household budgeting, the difference between “retirement” and “personal finance” one of the first tools I used while getting a handle on our personal finances and I’ll give…