DR Podcast 300: The Q&A Episode

You asked and Rob answered! We’re celebrating episode 300 of the Doughroller Podcast with questions from our listeners. One of the favorites: How do you know when you’ve reached financial freedom?

Episode 300 is all about you, our loyal listeners! We reached out to you on our Dough Rollers Facebook group to find out how we can best address your unanswered questions and boy, did we receive some great feedback!

First, you’ll hear about indexed universal life insurance. What exactly is that? It’s a form of permanent life insurance. Do you need it? Probably not and Rob will tell you why this could be more of a drain on your money than a safety net.

Homeowners, should you invest in real estate by purchasing a house every few years or using your home equity line of credit to buy one? There are some downsides to this but if you think about the value of your home and what you can get in the rental market, you may be on to something. “What if there’s another housing crisis?” you say. Rob faced this same issue back in 2008 and he’ll explain why this shouldn’t scare you away from being a landlord.

Sticking with investing, what does Rob think about bucket portfolios? While explaining the bucket strategy, Rob points us to an excellent resource for more thoughts on this. Check out this Morningstar article.

Next, how should you maximize your net worth? Should you pay off your mortgage or keep your cash in investments? The great news is there actually may not be a wrong answer!

You’ll also learn about the long-term viability of robo advisors. Will your assets be safe? And when it comes to your portfolio, should you be investing more in emerging markets?

Now, you’ve likely heard Rob say “the best thing money can buy is financial freedom”… but how exactly do you know when you get there? Surprisingly, there’s a simple equation for this and if you’re not a big spender, you might already be there!

Wrapping up this episode, Rob reflects on parenting and teaching kids about money to better prepare them for life. He’ll share a few ways to teach three important lessons: saving, giving, and the value of compounding.

While there wasn’t enough time to read through all the listener questions on this episode, we hope to address more on future podcasts. Also, be sure to join Dough Rollers on Facebook. The community has grown to over 5,500 members. It’s a great forum to request and comb through financial advice from like-minded, money-savvy individuals.

Until next time, we wish you well as you continue your journey to financial freedom!

Resources:

Topics: Podcast
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