Jason Feifer
speaker
848 appearances
6 recordings
2 series
first heard Nov 2024
last heard 12 Jun
Jason Feifer’s voice in public audio — every appearance, attributed to the second.
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recordings per month · last 12 monthsRecordings per month over the last 12 months — 1 in all, peaking in Jun 2026 with 1.
Appearances
Let's work on ways to improve them because within personal finance, with quick, quick solutions, you can see quick results.
I mean, the problem with that is like, especially someone who's let like over a hundred million dollars in the banking system is like, that's not terrible. And in fact, every, almost every large company that does revenue of over $10 million and greater needs debt to grow. Like that can be an amazing tool to build wealth, but it's like, what kind of debt does that person have?
The big question is why? And with those behaviors, have they been fixed? Are they going to continue to repeat? The big thing I hate about hearing headlines like that is we hear one thing and we have been trained in the finance world to immediately assume the negative connotation with it. We hear bad credit and assume all this negativity.
There are a lot of people that are worth multi, multi, multi-million dollars and some that have terrible debt or terrible credit score. It's okay to have certain issues. Let's understand them. Let's identify them. And see if those patterns are going to repeat or can be fixed. That's it. That's it. Right.
In my book, there was an example we had of someone who kind of had a situation that was wildly the example of financial infidelity. But she's making less than her husband. They got married pretty quickly. He said that he'll pay half the mortgage via Venmo or Zelle. And she had belief in that because she did see that he made more. So her name's on the mortgage.
They put both of their names on the deed. And then the day they closed, the IRS owned the entirety of her home because he had all these back taxes that were due. And so I think if we don't have these conversations, if we don't step into them, we're not doing our due diligence. And guess what? She went through a divorce. She was carrying his debt.
She ended up getting happily remarried to a really supportive guy. They together paid off his debt, the prior husbands, and now live a happy life. So that's the thing with finance. It can be fixed once identified and we need to get rid of judging.
Man, I would say go to therapy and figure out what the real issue is, right? And we're seeing, right, the wage gap is tightening. And in my opinion, it's 100% going to flip. And this concept is something that needs to be broken into, that needs to be shattered because it is completely backwards and asinine.
Yeah, correct. Correct. I think the short answer is, is that like good debt is any type of debt instrument that is used to hopefully support an appreciating asset of some nature. Right. We know historically real estate in the United States appreciates. Right. So a mortgage is collateralized by the home. And, you know, of course, it's more of a generalized statement.
But in general, homes in the United States as a macro perspective appreciate that. When we look at credit card debt, credit card debt is considered a bad form of debt because you are likely acquiring assets that depreciate or have no value, which is why I'm sure all your listeners know when you tie the risk associated with any form of debt with an interest rate.
You know, credit card debt is going to be the highest interest rate because the bank is taking on so much more inherent risk because there is no collateral for that debt that's being deployed. And so when I talk about good debt, when it comes to businesses, I'm talking about companies that are buying equipment to continue to grow. I'm talking about companies are buying real estate to grow.
Companies are supporting their employees through a line of credit to grow. companies that are using debt to acquire other companies. So there's a lot of forms in which you can use debt as a strategy to acquire appreciating assets. And that is night and day from assets that are bought through dollars that are spent on experiences or material items that depreciate in value. Stocks, not stuff.
I like it.
No secret accounts. I think the biggest thing in finance, you need full visibility to everything you have and to everything your partner has, especially if you are married or cohabitating. 100% pure visibility into everything and where it goes. When you have visibility, it absolutely eliminates all gray area.
When I think about joint accounts and separate accounts, at the end of the day, there is no cookie cutter solution for anything finance. It has to be customized. That's why I like some of these conversations could take weeks, months, even years to figure out after material, material due diligence based on everyone's circumstances and what their overall profile looks like. That being said, I think a
good solution. I'll give you one that I recommend in my book at Talk Money to Me. If you have a 15% to 20% income within one another, I think putting a joint account and having your own individual accounts are good, creating an amount that you can both contribute to your individual account and then operating as individual entities as well. But at the end of the day,
Net worth is your baseline for cash inflows and outflows. And even to go back to that earnings conversation, the amount of people I know that have less earnings than their partner but have more wealth is significant. Earnings is just one small part of the equation to building your overall net worth. And so that's why another reason to just immediately judge it is it's just it all.
There's nothing intuitive about it.
I think that Nick's kid is going to be set up quite well for financial success. Nick has had a ton of success. So any advice I'd give to anyone that has a newborn is, you know, before that newborn even comes to this beautiful earth, have a 529 set up.
All the birthdays, all the religious celebrations, all the graduations and everything in between, friends can contribute to a 529, but you have to have that account set up. And it is the best way to contribute to a child's future. And as we know, time, I'm sure all your listeners are well aware of the impact of time on growth and making money on your money.
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