Money Map: No Shortcuts
episode
DIY Money | Personal Finance, Budgeting, Debt, Savings, Investing
23 min
3 speakers
6 chapters
transcribed 1 month ago
Transcript
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Transcript generated automatically by AI and may contain errors.
What is the main topic discussed in this episode?
Hey, this is Allie, and thanks for listening to the show. Give us a five-star review where you listen and share this episode with someone who might need to hear it. Now, enjoy the show.
Welcome back. Ladies and gentlemen, you're listening to another edition of DIY Money. DIY Money.
Washington A. Howard. Having a hard time with my mic today. Yeah, what's going on there? I didn't position it before.
I'm ready. And DIY Money. And DIY Money.
What is the purpose of the DIY Money series and who is it for?
Welcome back. We're wrapping up our series today. This was really an organic series. We didn't pre-plan this. I mean, once it started, we kind of pre-planned it. It was kicked off by a podcast we did that was just titled Stop It. And it got a tremendous amount of positive response, and I think it resonated with a lot of people, which, listen, we're human, and sometimes we stray off course, reminded us of why we started this podcast in the very beginning. And the reason was not to... And mind you, I've loved all the questions about all the uniqueness of IRAs and Roth IRAs and complexities here and so forth. But it wasn't about that. It was about... The desired goal was to help people that would never step foot in our office.
Not because you're in California and you have a complex question about your 401k or your IRA and you're not going to step foot in our office. But because... you normally would not engage a financial advisor when you're running out of money before you run out a month. Or you just married your spouse, you're totally not on the same page with money, and it's destroying your family. So instead of that roadblock of somebody going, well, I don't have any money, why would I talk to a financial advisor? That's what this podcast and brand is for. That's what this whole thing is about. And we have kind of rewrited the ship had a come-to-Jesus moment, and it's like, no, we're going back to the basics, and this is what we're talking about.
You said it, mister.
And similarly, with the questions, over time, it's gotten from, well, what is a 401k? Which is what we want to be addressing. Those are the kinds of people that we want to be able to have this resource for. And we've gotten into Megadac Store Roth and the pension program.
And listen, I'm not going to short that. There's... That is a strong thing, and if we lose a variety of our audience members because of that, I will hate to see you go. But there are a tremendous amount of resources out there that can cater to that. I don't believe there are a tremendous amount of resources that are there to – from where we sit, which is typically a higher level in finance, coming back down to where we all were at some point in our life, empathizing and helping an individual go from point A to point B, C, D, E, and F. That's what we're trying to do. I've been revitalized, re-energized through that. The tribe is open. We're back on social media. For those of you out there who are fans of the show, I think some of you know that my wife and I, a year or so ago, kicked off a high school program.
And the high school program was to go into the classroom and educate kids about finance, investing. managing real money with the goal of when that money grows, which, by the way, it's not growing right now. It's actually receding, but it will grow over time. Those proceeds going back into the school for scholarships. We're going to expand that program. We're expanding that program in our local community. We want to ultimately expand that program in our state. And ultimately, I mean, I'm a big dreamer. I want to expand that program nationally. I take it back.
Why did the hosts decide to 'rewrite the ship' and return to basics?
You're not a loser. This fits hand in glove with that. So, all right, I'm going to get off that hot horse. But keep the questions coming because this is the last episode of kind of us just on our soapbox ranting about various topics. We'll get back to questions. Send those questions to podcast at diymoney.org. We have a great lineup of questions that have been coming in as we've been doing these podcasts. And remember, when we use that question on the show, we will send you a $25 Amazon gift card.
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Chapters
6 chapters
1
What is the main topic discussed in this episode?
0:01–0:26
2
What is the purpose of the DIY Money series and who is it for?
0:26–3:48
3
Why did the hosts decide to 'rewrite the ship' and return to basics?
3:48–12:38
4
How does the hosts' high school finance program fit into their mission?
12:38–19:27
5
What does 'No Shortcuts' mean on the Money Map journey?
19:27–21:56
6
What evidence shows consistent investing beats get-rich-quick schemes?
21:56–23:07