back to indexSB309_Investing_to_BE_Dave_Ramsey_with_Joshua_Sheats
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Hey, Stackers, just a quick note before we get today's show a-rolling. 00:00:08.680 |
I know a lot of you follow our movie and television suggestions, and you also may know that every 00:00:16.840 |
I list every single movie that I saw the year before. 00:00:19.720 |
This last year, I saw 39, which is down significantly from the 62 that I saw the year before, but 00:00:27.080 |
I saw a lot more TV this year, as some of you that follow the show closely know. 00:00:34.840 |
If you want to see my rankings and avoid bad movies, which will be the bottom third of 00:00:40.520 |
the movies that I saw, and also if you want to help the show and you're watching them 00:00:44.240 |
on Amazon, we have click-throughs right to Amazon. 00:00:48.660 |
We get a little thank you from Amazon when you do that. 00:00:51.120 |
And you also can make sure that you don't see movies that stink. 00:00:55.760 |
Here's where you go, stackingbenjamins.com/2015. 00:01:01.600 |
It's stackingbenjamins.com and the number 2015. 00:01:11.800 |
Hi, this is James Kenson from the Cash Car Convert podcast. 00:01:17.840 |
When I'm not crushing car debt, I'm stacking Benjamins. 00:01:26.760 |
Live from Joe's mom's basement, it's the Stacking Benjamins Show. 00:01:42.880 |
From radical personal finance, Joshua Sheets. 00:01:46.360 |
Plus, why 44% of top US executives don't want to hire you. 00:01:51.880 |
And it's not because of all those papers you plagiarized in college, Mike. 00:01:57.320 |
And we'll have a discussion of the recent film, The Big Short. 00:02:02.080 |
And now, two guys we refer to as a couple of big shorts, Joe and O, G-G-G-G-G. 00:02:24.120 |
Unless you're from the Northeast, then there's an R in just about everything, isn't there? 00:02:31.320 |
I'm just saying that you just throw an R in there and you fit in. 00:02:38.560 |
It's like now, you know, I've got to learn to start saying y'all. 00:03:02.960 |
And on today's show, we've got some fun because as Doug so appropriately said before, Joshua 00:03:08.800 |
Sheets, radical personal finance, getting radical, OG. 00:03:17.480 |
We're going to show you how to invest like Dave Ramsey to become- and by the way, it 00:03:23.920 |
This is not going to be a anti-Dave Ramsey show. 00:03:30.080 |
I'm just pointing out that just because we're pointing out a different- 00:03:40.060 |
I was thinking they're going to come with us to go torch and pitchfork Dave Ramsey. 00:03:49.540 |
Put them away, everybody, because Dave is a friend and Dave's always trying to get on 00:03:53.280 |
the show and we never seem to have time for him. 00:03:55.420 |
But something we do have time for is to head to stackingbedgements.com/magnifiedmoney. 00:04:01.240 |
Because you save so much money when you go there. 00:04:04.980 |
I love getting letters from people saying, "Guess what? 00:04:07.420 |
I just found out how bad my checking account stinks because I went to stackingbedgments.com/magnifiedmoney." 00:04:16.100 |
So I'm talking to my brother on the phone and my brother says, "I hear your magnified money 00:04:26.660 |
So he never opens his bank statements because he does all his banking online. 00:04:31.220 |
So in fact, he was saying the other day, doesn't he know why he still gets bank statements. 00:04:34.940 |
He's like, "I should have had that turned off." 00:04:37.420 |
But anyway, he said he decided to look after listening to a recent show. 00:04:43.380 |
He said, "I made three cents of interest on my money market account." 00:04:50.180 |
So stackingbedgments.com/magnifiedmoney and my brother and everybody else out there will 00:04:58.300 |
And another place that's heaven, if you pay your bills on time, stackingbedgments.com/sofi. 00:05:09.760 |
And when you go to Sofi, what you'll find is that they have fantastic rates on refinancing 00:05:15.680 |
Talked on Monday about our friend, Cece, saving her friend a bunch of money because she told 00:05:21.980 |
Dan Macklin and the gang over there, they do a great job of taking care of you when 00:05:27.080 |
it comes to your personal loans, to refinancing your house, buying a new house or student 00:05:40.400 |
Let's make you and I happy by talking about some headlines, OG. 00:05:43.220 |
Hello, darlings, and now it's time for your favorite part of the show, our Stacking Benjamins 00:05:50.100 |
I know why 44% of the top U.S. executives don't want to hire you, OG. 00:05:54.700 |
Because I'll overshadow them in the boardroom. 00:05:57.860 |
Joshua Spodek, contributor from Inc.com, wrote this at Inc.com recently in a survey of U.S. 00:06:06.220 |
44% said Americans lack soft skills, which are poorly taught by traditional education. 00:06:12.980 |
You know, we were talking about English majors a couple of weeks ago. 00:06:20.200 |
We're about to say something good about English majors. 00:06:22.940 |
Because soft skills, it turns out, are the area that most employers think that people 00:06:27.900 |
are competent when it comes to the area of expertise, OG. 00:06:31.220 |
They don't know how to get along with other people. 00:06:39.400 |
That's the thing you have a problem with, isn't it? 00:06:40.940 |
Well, I think that's why you keep me down here. 00:06:45.740 |
But I have been known to have a tough working environment relationship before. 00:06:58.180 |
You see those studies about how hard it is to train a new employee though, and how much 00:07:01.980 |
Well, that's like the whole Zappos thing, right? 00:07:04.500 |
They go through the whole first two weeks of training and then tell them, "We will give 00:07:11.540 |
If this isn't for you, take the two grand and run. 00:07:13.820 |
Because it's more expensive for us to keep you around than it is just to cut your check 00:07:17.940 |
They say that the US is not the only country monopolizing this stat, that the people don't 00:07:24.420 |
Across the Atlantic, a study by Development Economics Research Group last year estimated 00:07:29.140 |
that by 2025, the shortage of soft skills in the UK alone could cost as much as $22 00:07:38.620 |
Just because people don't know how to communicate with each other and get the job done right 00:07:55.340 |
That means we need you to be more productive. 00:07:57.500 |
That commercial with Mike Krzyzewski from Duke, where he texts his former player and 00:08:12.900 |
So he texts him an Emoticon and it doesn't represent anything. 00:08:16.380 |
So then the next commercial, he's watching with his kids and he says, "Hey, great shot. 00:08:34.140 |
They're all just communicating in this weird language. 00:08:36.260 |
That's what we need as a 14 year old to translate this whole show. 00:08:38.940 |
Maybe transcribe the show into all Emoticons. 00:08:44.660 |
There you've got the Stacky Benjamin show right there. 00:08:53.960 |
Soft skills come from experience, not abstract learning. 00:08:59.980 |
You have to have communication with other people so you can decide what's appropriate 00:09:05.540 |
That's why when I see kids buried with their faces in their iPads and not talking to anybody, 00:09:10.140 |
this is what they're talking about right here. 00:09:11.820 |
It's so interesting when you look at all of these platforms we have, right? 00:09:15.780 |
These social platforms we have to talk to each other and we've forgotten how to talk 00:09:21.980 |
We'll link to that on our show notes at stackybenjamins.com. 00:09:24.540 |
Second article today comes to us from Napa-Net.org, the National Association of Plant Advisors, 00:09:34.980 |
This headline, health savings accounts surged last year in 2015. 00:09:40.260 |
Assets and health savings accounts, HSAs, totaled more than $30 billion in assets at 00:09:47.500 |
It's a year-over-year increase of 25% for HSA assets and HSA investment assets increased 00:09:55.780 |
HSA investment assets reaching an estimated $4.2 billion in December, up 33% year-over-year. 00:10:03.860 |
Well, HSAs are the wave of the future, right? 00:10:06.740 |
Everybody's going to these high deductible plans and putting more of the cost of standard 00:10:13.500 |
And assuming you're healthy, OG, it's a great way to go. 00:10:16.980 |
Well, healthy, unhealthy is immaterial because more and more companies are going to these 00:10:21.740 |
plans exclusively, you know, just to help mitigate the rising cost of healthcare. 00:10:26.540 |
They say that with retirement security of growing concern and paying healthcare expenses 00:10:30.660 |
in retirement is of course a large part of that concern. 00:10:33.580 |
HSAs offer account owners a number of advantages, including contributions, reduced taxable income 00:10:39.220 |
because your money goes in pre-tax, earnings on the account build up tax-free, distributions 00:10:44.540 |
for qualified expenses from the account are not subject to taxation. 00:10:49.180 |
According to recent Fidelity study, a couple aged 65 today needs a quarter million dollars 00:10:57.260 |
So when you look at your investment portfolio or you look at your retirement accounts, take 00:11:01.780 |
250,000 of that and say, this is my healthcare account. 00:11:09.020 |
HSAs are a popular option that you can consider, especially if you start early, whereby you 00:11:14.580 |
might be able to accumulate some of that, or if not all of that, quote unquote, need 00:11:26.220 |
So our lessons, number one, be nice to your neighbors, OG. 00:11:37.820 |
Far more, well, not far more important, but equally as important as the technical aspects 00:11:41.780 |
that we talk about on this show, learn to deal with other people and you'll get further 00:11:46.100 |
And those 44% of people that don't want to hire people will want to hire you. 00:11:50.000 |
So that's, you want to get a leg up in the workforce, learn communication skills. 00:11:53.940 |
And then number two, HSA, it's not just for lunch anymore. 00:12:03.820 |
It doesn't make sense to me, but rarely do things make sense to me. 00:12:07.900 |
Just trying to put a slogan on these, you know, all the popular shows have slogans these 00:12:13.740 |
So yeah, the segment brought to you by, right. 00:12:17.460 |
Joshua, Joshua Sheets, radical personal finance. 00:12:21.500 |
We've been talking to Joshua about coming on this show forever. 00:12:24.260 |
And finally, Joshua is finally, he was bored enough, ran out of everything else to do. 00:12:31.420 |
Of course, the show radical personal finance, Joshua and I joke that we are the yin and 00:12:34.940 |
yang and the personal finance shows where our show is magazine style, lots and lots 00:12:42.220 |
So Joshua dives deep into one topic while on most of his shows, he has more letters 00:12:55.280 |
He's a financial planner of the world's leading authority. 00:12:58.280 |
Integrating lifestyle goals without conflict. 00:13:00.280 |
And of course, he always has a strong opinion. 00:13:01.280 |
Let's talk to him about his opinion on becoming Dave Ramsey. 00:13:04.280 |
Joshua Sheets, the world's leading authority.