Money Tree Investing

ADD, Apps, and Asset Allocation: It's all covered in today's episode. Listeners Alicia, Sally, Katie, Jillian and Shanna sent in questions for this episode. If you'd like to have your question addressed, contact us here: http://moneytreepodcast.com/contact

Chris Hogan speaks to people all over the nation about how to make better moves with their money. As one of Ramsey Solution's speakers, he has the opportunity to address thousands of people who are looking for knowledge, solutions, and answers to their money problems. It's not about numbers, it's about stories One of the ways he gets his message across is by telling stories. Stories, as Joe Saul-Sehy says, is what's missing in today's financial media. Chris Hogan agrees that personal testimonies can open the door to learning about money and making changes for our own good. "A lot of us come to deal with money based on our own preconceived notions, our own failures, and our own knowledge. Much of this was based on how you were raised - how was money talked about and how do you view it. It doesn't matter where I came from or what I knew…it became a matter of what I'm learning and what am I doing as I move forward." Lightbulb moment Chris says his lightbulb moment was after he went "looking" at an SUV and came home with a $600 vehicle payment. He ran the numbers on how much the money could have become if he'd invested it rather than driving it and it became his wake-up moment. Becoming an Everyday Millionaire Chris Hogan and Ramsey Solutions are working with a research firm to study the habits and behaviors of over 10,000 millionaires. What they are finding is that people of all walks of life can become millionaires, and the book offers stories from some of the people in the study. For more information, visit the show notes at http://moneytreepodcast.com/212

Anand Talwar from Ally Bank explains how banks make their money. The primary way is through loans. Consumer loans, such as Ally's leading auto finance business, need to charge more in interest rates than they are paying out in savings account interest. This ensures the entity earns more than it spends on overhead and other expenses. Anand points out that brick-and-mortar banks have different expenses than online banks, as they need to cover facilities costs and on-site employees. This makes it easier for online banks to offer more competitive rates for their customers. Mobile banking has become much easier and convenient for the average customer. Smartphone apps allow you to deposit checks, transfer money, and even . If you are looking for cash, the apps can help locate an ATM within your network in close proximity to you. Banking apps, such as Ally's, can also allow you to trade stocks and ETFs, and customer service representatives are available 24 hours a day to help you open an IRA. The convenient services allow banks to provide you more services and products with less friction, making it much easier to do business with a bank. Ally estimates there are more than $3 trillion dollars of consumer's deposits are sitting at banks making almost nothing. That translates to $50 billion dollars of interest consumers are missing out on, but can be improved just by switching your bank. Ally will be facilitating "National Online Banking Day", so be sure to visit Ally.com to see what they are offering. For more information, go to http://moneytreepodcast.com/211

Would you move to an overseas city if it only cost $40k a year to live? CNBC wrote an article about five overseas cities where you could have a comfortable retirement for $37,000 a year. Miranda, Joe and Linda talk about the things one would have to leave behind but also the benefits of moving to a different location that don't only have to do with money. Pros and cons to moving overseas: The internet makes it easy to connect with anyone almost anywhere in the world In some locations the internet isn't always accessible or reliable Many overseas locations have better weather conditions Some countries have areas with greater concerns for security The cost of living can be much cheaper You need to be concerned with the availability and cost of healthcare We also go over the things you need to consider having in place before moving. For more information, visit the show notes at http://moneytreepodcast.com/210

Recently JP Morgan announced the release of their new investing app, which leave many saying "Welcome to the club". Fintech is changing the way we do money - and it's here to stay. Budgeting, spending, investing, and even trading are all influenced by fintech. Fintech products are helping people become influence marketers, and our guest Joe Saul-Sehy says apps help create community. One more thing that is coming out of the fintech movement is the ability to get people interested in money. Joe loves using how fintech is bringing various financial knowledge to the average person, and some even gamify the learning process. Listen to Linda P. Jones and Joe Saul-Sehy talk about using fintech to make better money decisions. For more information, visit the show notes at http://moneytreepodcast.com/209

75% of people who receive inheritances go through all the money within 5 years. Aretha Franklin passed away intestate (without having made a will). Doug Goldstein knows a thing or two about inheritances and released a book with helpful advice about how to handle a windfall - and how to properly leave an inheritance to your loved ones. For more information, visit the show notes at http://moneytreepodcast.com/208

Dr. Daniel Crosby shares the fundamental methods for investing success based on his studies of human behavior and finance. The 4 C's to behavioral investing: Consistency Clarity Courageousness Conviction and some of The Ten Commandments of Investment Behavior. For more information, visit the show notes at http://moneytreepodcast.com/207

If you believe we are due for a correction in the market, would you plan to borrow money on your house to invest during the downturn? That's what one listener, Sigmund from Norway, plans to do. He's debt free and has a paid-for cabin, which he plans to mortgage during the next recession. What does the panel think? Charles's daughter has $1,000 worth of EE Savings Bonds that were given to her over the years by her step-grandmother. They already have enough saved for her to go to college, so what should he do about the savings bonds? We dive deep into these topics with our varying experiences and opinions. Listen closely. For more information, visit the show notes at http://moneytreepodcast.com/206

Linda P. Jones feels the financial industry hasn't done a good job getting women interested in investing like it has for men. But what's the real harm? Linda shares reasons why it's important for women to become a "Wealth Heiress" so they don't outlive their savings and she gives clear direction with helpful tips in her new book "You're Already a Wealth Heiress! Now Think and Act Like One: 6 Practical Steps to Make It a Reality Now". For more information, visit the show notes at http://moneytreepodcast.com/205

Do you take into account the social mission or the social impact of the investments you buy? Eddie Lorin from ImpactHousing.com shares ways to invest well while doing good. Eddie helps people invest in ways that help people through the investments they purchase, such as REITs that invest in multi-family properties. For more information, visit the show notes at http://moneytreepodcast.com/204