Joseph P. Okaly
Enjoy More 30s: Family FinanceEpisodes
Best Episodes of Enjoy More 30s
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Certain assets will now forgive all taxable gains, but what about losses?Now this original episode, we spoke about how if you inherit what they call taxable, so non IRA or annuity type assets, so really essentially, if money's in a joint accoun
Overall, what the market tends to be influenced by is certainty vs uncertainty.Studies have been done on the president, the House, the Senate, combining all three of these in different ways to see which one of those has been the most favorable
Open communication with your parents about money may be more important than you think, especially now.So how much are our parents affected? Can they still recover their expenses long term, if they're in these heavily bond weighted portfolios? (
Keep a long term view, this might just be traffic on the road to your destination....what we can do is still pause and take a look when it comes to finances just like Lauren and I do with that last luggage check. You know, what do we actually n
Reminding ourselves how the stock market tends to work, how it is a leading indicator, can be a helpful emotional refresher course.The stock market, if you remember is what they call a leading indicator. Basically, what that means is that it ac
With more education, there's less fear.A lot of times when it comes to finances is we don't even know what we don't know. (03:19)When stocks sell down, though you have that other area of your portfolio, right? Bonds, fixed income, they are more
Recapping easy traps people tend to fall into when it comes to money and saying good bye to Joe's game show voice!Someone who saves $500 a month at 10% for 30 years, winds up with over $1.1 million. Someone who waits 10 years and then starts th
Spending money does not equal wealth.Let's say between a little bit of a fancier car, larger house and other great lifestyle items, we can increase our spending by $500 a month. (01:45)And so for example, we can help ourselves miss out on an ex
Why do flight attendants say to put your oxygen mask on first, before helping others?Instead of utilizing the ample college loan opportunities, we can instead try and pay for college as much as possible out of our own pockets. (01:42)If we spen
If you had the option to either save 4% or make 7%, which would you choose?Certain debts are regarded as good and so getting rid of something good would have to then generally be regarded as a bad thing to do. (01:07)If you had the option to sa
Receive a bonus every year? Be intentional with it! It could have a profound effect on your finances in either direction!Bonuses can be a great additional way to build wealth. (01:09)If you were to receive a $5,000 bonus every year for 35 years
If you have a family, chances are, you need life insurance!To have the best chance of not being a millionaire then that would mean leaving this huge asset exposed by pretending death cannot happen to you. (01:48)Simply don't ask yourself questi
"Paying yourself first" - look it up!The best way to avoid saving is to only save what is left at the end of the month. This way, you have a great chance of spending all of your income, leaving absolutely nothing left to save towards yourself.
Your future income potential is your greatest asset; protect it!To have the best chance of not being a millionaire, then that would mean leaving this huge asset exposed to one of the most likely occurrences; disability. (01:31)Getting to that r
Roth IRAs grow tax-free! A great way to build your wealth!Roth retirement accounts, whether that be a Roth IRA, which would be a retirement account that you set up on your own, or a Roth 401(k), which would be a retirement account you set up th
What is the best kind of money? Free money, of course!A matching component is where they will give you essentially free money, the match, up to a certain percent. (01:15)Some plans might have a vesting feature or having to work there aka for a
Money needs time to grow, so the longer you wait to start saving, the better chance you have of NOT being a millionaire!Think of it like planting a fruit tree. Fruit trees can take three to five years before they start producing any fruit at al
Recapping 12 financial concepts through the timeless medium of storytelling!You're not going to cover everything in this series tomorrow or maybe ever. But if you take even one step forward, you are better off than before. (01:20)So look at tha
Everyone has unique abilities. Is your advisor's unique ability financial planning?We are all well suited for very different things, we all have what some might call our unique abilities. (02:17)So when we talk about financial planning, if desi
How sturdy is your three-legged stool of life?So it's easy to get caught up with all the fun or demanding elements of daily life. (02:19)Our goals for happiness sit on the top of these three legs, they're cashflow, insurance protection and inve
Danger doesn't give advanced warning so sharpen your tusks with planning! So planning is what we can do to sharpen our tusks just like the boar. (02:18)"What if something happens to me?" We know how much money your spouse would need and we now
Don't wait! Catch those small fish and watch them grow "in your own pond"!Just like how small fish grow over time to be big fish, seemingly small amounts of money can grow substantially over time as well. (02:08)Putting that fish into your own
Waiting for the perfect scenario can get in the way of making any progress at all!Now, right now, today is almost always better than perfect. (02:08)So get out there, get the insurance policy now and then when you get in better health, go get a
Accidents will happen in life so captain your ship or at least hire one!"Yes", he replied, "the boat went past me first on its way towards you." "You were lucky it missed you. I wasn't so lucky." "Well," said the newcomer, "I saw that it might
"Little by little, a little becomes a lot...plus compounding interest!" - paraphrasing a Tanzanian proverbYou get your first 401(k) statement that you threw a couple pebbles into and it essentially says you know, "well thanks for playing, but y
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