rich & REGULAR with Kiersten and Julien Saunders

This week, Jackie Cummings Koski, author of "F.I.R.E. For Dummies," sits down with us to share her personal experience and offer some wisdom for anyone, no matter how late they are in the game, to begin building their financial future. This episode isn't your typical FIRE fantasy. As a Black, divorced, single mom who retired with $1.3 million at age 49, Jackie's got the receipts and the real talk about what it looks like to navigate personal finances when your story is a little more complicated than the usual "quit your job, sail the world" narrative. Jackie’s story is one of resilience, of taking on the challenge of reaching back to help your family when you're the first one to make it, and even more importantly, it's a story of recognizing that you have time on your side, even when you are a late starter.We discuss: The Great Un-Representation: Why the financial world needs more diverse voices, and especially more Black women, in the conversation.From "F.I.R.E. For Dummies" to Family Dinners: How the psychological aspects of money shape our choices, and why helping those closest to you often means reaching back instead of up.The Truth About Social Security: Jackie breaks down the reality of Social Security for early retirees (spoiler alert: it's a powerful backup, but don't expect it to be a cash cow).Beyond the Numbers: Living a life of purpose and leaving a meaningful legacy can be more important than just the final dollar figure.Is the 4% Rule a Myth?: Jackie shares her experiences with the 4% rule and how it can be adapted to your own circumstances and goals.Links:Get Jackie’s book F.I.R.E. For Dummies hereListen to Catching Up to FI podcast with Jackie and Bill Yount Visit her website, Instagram, and LinkedIn  Connect with Julien and Kiersten on our website, Instagram, Twitter, and YouTube.Join our email list to get updates from us, opportunities for discounts, freebies and a quick rundown on the relevant financial and career news impacting your life. Get our book Cashing Out: Win the Wealth Game by Walking Away, named 2023 best overall book about investing by Business Insider and one of the best personal finance books by ForbesIf you would like to learn more about investing, check out our newest class, Making Money Grow

Are you dreaming of owning your own business? Maybe you picture yourself running a bustling coffee shop or a sleek fitness studio in the perfect area of your town. Franchising often seems like the shortcut to that dream – a pre-packaged path to success, where the brand and the system are already in place. But, as with most things in life, the reality is a little less glamorous than the Instagram-filtered facade.In this episode, we take a deep dive into the world of franchising. From the initial allure of a "cheat code" to building wealth to the often-overlooked realities of bureaucracy, legal entanglements, and the never-ending dance of stakeholders, we lay bare the realities of franchise ownership.This episode is a must-listen for anyone considering franchising. We’ll help you cut through the hype and make informed decisions about whether franchise ownership is the right fit for you.Key TakeawaysBeyond the “Cheat Code”: Franchising isn’t a magic bullet to wealth. It’s a business model with its own set of complexities and challenges.It’s Not Just a Sign-Up: Before jumping in, be prepared for a thorough application process, including fees and scrutiny of your financial standing.You’ll be juggling more than just your own employees. Franchise ownership means navigating a symphony of stakeholders, including sales teams, operations support, and vendors.Location, Location, Location: The hype often centers around “prime” locations, but the reality is most franchises operate in less-than-ideal spots. Demand generation is crucial, and you’ll need to build your own customer base.Beyond the Honeymoon Phase: The initial excitement of a franchise can fade quickly as you face the day-to-day realities of running a business within the constraints of a corporate model.Deep Pockets & Deep Relationships: You'll need financial stability to handle unexpected costs and a strong network to navigate challenges and find reliable help. Connect with Julien and Kiersten on our website, Instagram, Twitter, and YouTube.Join our email list to get updates from us, opportunities for discounts, freebies and a quick rundown on the relevant financial and career news impacting your life. Get our book Cashing Out: Win the Wealth Game by Walking Away, named 2023 best overall book about investing by Business Insider and one of the best personal finance books by ForbesIf you would like to learn more about investing, check out our newest class, Making Money Grow

You've heard of the Snowball and Avalanche methods, but which one is right for you? In this episode, we discuss the nuances of these popular debt payoff strategies, exploring the psychology behind each and how they might affect your financial journey.We're not here to shame you about debt. Let’s be real, in this economy, it's practically a badge of honor to have survived the last few years without getting buried in debt. But, when you're ready to take charge, knowing the right approach can be the difference between a successful debt-free journey and a cycle of frustration.We'll break down the pros and cons of each approach, sharing insights on how your mindset can play a crucial role in success. Because let's face it, sometimes even the best strategy falls short if you're not mentally prepared for the challenges ahead.TakeawaysThe snowball method involves paying off the smallest debt first, providing quick wins and motivationThe avalanche method focuses on paying off the debt with the highest interest rate, resulting in less interest paid over timeYour mindset is just as important as the math. Choosing a debt payoff strategy depends on personal preferences and financial goalsUsing windfall money and balance transfers can accelerate debt payoffThink of it like chicken soup. Do you want to pop open a can of Campbell's? It's quick, easy, and gets the job done, but lacks the depth and soul of homemade. Or, are you willing to invest a little more time and effort to craft a broth that will simmer in your heart (and stomach) for days?Focus on making progress over the next 90 days to reduce debt before the holiday seasonReassess, adjust, and celebrate. Don't get stuck in a rut. If one method isn't working, switch it up. And remember to celebrate every milestone, even the small ones.Links: Episode 93 - credit card balance transfersEpisode 142 - how we paid off $200,000 in debt Episode 138 - Tips to avoid holiday overspending Connect with Julien and Kiersten on our website, Instagram, Twitter, and YouTube.Join our email list to get updates from us, opportunities for discounts, freebies and a quick rundown on the relevant financial and career news impacting your life. Get our book Cashing Out: Win the Wealth Game by Walking Away, named 2023 best overall book about investing by Business Insider and one of the best personal finance books by ForbesIf you would like to learn more about investing, check out our newest class, Making Money Grow

Dive into the classic debate of net worth versus cash flow! Discover how cash-producing assets like rental properties and dividend stocks can create income now while building wealth for the future. The hosts emphasize the importance of balancing these financial metrics for stability. They explore the ups and downs of investments and highlight innovative strategies that maximize both cash flow and growth opportunities. Plus, they share tips on managing investments and navigating potential pitfalls for long-term success.

This week we’re talking about the stock market's latest tantrum and what it means for YOU. (Spoiler: maybe not as much as you think!) 🤫In this episode we’re breaking down the psychology of fear and hype, and talking about how to avoid getting caught up in the noise while building a long-term strategy that makes you more confident and less stressed.Takeaways:An overvalued stock is one where the price is higher than its actual worth based on its current performance and future expectations.Market volatility and fluctuations in stock prices are often driven by market sentiment and short-term traders.Forget the hype and focus on fundamentals - For long-term investors, it is important to focus on the core fundamentals of a company and not get caught up in short-term fluctuations.Valuation is an art and science - Evaluating stock valuations requires a mix of quantitative measures (e.g., price-to-earnings ratio, price-to-earnings growth ratio) and qualitative factors (e.g., CEO and executive movements, insider trading).Long-term investing is about more than money - It's about building confidence and a sense of control over your finances. Diversification, dollar-cost averaging, and focusing on what you can control are key strategies for navigating stock market fluctuations.You're in control of your destiny, not the market's - Developing a solid investing philosophy and understanding your risk tolerance is crucial for making informed investment decisions. Connect with Julien and Kiersten on our website, Instagram, Twitter, and YouTube.Join our email list to get updates from us, opportunities for discounts, freebies and a quick rundown on the relevant financial and career news impacting your life. Get our book Cashing Out: Win the Wealth Game by Walking Away, named 2023 best overall book about investing by Business Insider and one of the best personal finance books by ForbesIf you would like to learn more about investing, check out our newest class, Making Money Grow

This week we're ditching the usual deep dives and trying a new format. The Quick Dip is where we embrace shallow takes, and in this episode we’re talking about everything from the Olympics and bankruptcy to the creepy world of personalized pricing. First we tackle the Olympic exploitation issue, questioning the disparity in pay and prize money for athletes across the globe. Then we discuss the rising bankruptcy trend, wondering if we're becoming numb to the stigma or if it’s truly just changing. And finally, we explore the spooky world of surveillance pricing, wondering if we've lost our privacy in the pursuit of convenience. Get ready to be surprised, provoked, and possibly slightly horrified Links: Why are Olympians so Broke?Download our free Financial Technology ToolkitBankruptcies up 16% YoYImpact to credit score and likelihood for bankruptcy in states with legalized bettingFTC files special report regarding surveillance pricing Connect with Julien and Kiersten on our website, Instagram, Twitter, and YouTube.Join our email list to get updates from us, opportunities for discounts, freebies and a quick rundown on the relevant financial and career news impacting your life. Get our book Cashing Out: Win the Wealth Game by Walking Away, named 2023 best overall book about investing by Business Insider and one of the best personal finance books by ForbesIf you would like to learn more about investing, check out our newest class, Making Money Grow

Julien shares his personal story about the emotional and financial challenges of finding affordable housing for his aging mother. He discusses the bureaucratic hurdles and the heavy toll these decisions take on families. The conversation delves into the high costs of senior living, especially for those on fixed incomes, and the necessity of early preparation for conversations about the future. They emphasize the importance of community support and understanding systemic barriers that complicate the search for suitable housing.

This podcast explores the complexities of ADHD, its impact on relationships and finances. It delves into the emotional roller coaster of diagnosis, challenges faced by women, and the role of a partner in support. The discussion covers executive functions, genetic aspects, work dynamics, and the importance of embracing vulnerability and communication.

Unlock the hidden potential of brokerage accounts, offering flexibility for short-term and retirement investing. You have full control of your investments, and it's easier than you think to get started. Don't overlook the short-term potential of brokerage accounts for various financial goals.

Money is a hot topic, and it's easy for disagreements to turn into full-blown fights. In this episode, we dive into the common reasons why we fight about money with our partners, family members, and even friends. We explore how our past experiences, cultural influences, and even the nature of our brains can lead to conflict and how to navigate these situations with grace and understanding.Key Takeaways:We're not taught how to argue about money: Most of us don't have the skills to discuss financial matters without resorting to emotion or negativity."On the same page" doesn't mean conflict-free: Healthy relationships include differences of opinion, even about money.We often hit below the belt: Media and cultural narratives can influence how we approach conflict, and sometimes we end up attacking our loved ones without realizing it.Ultimatums are a form of coercion: Instead of trying to control someone's actions with threats, learn to set clear boundaries and communicate your needs respectfully.The "money fight" is often about something deeper: Underlying insecurities about control, trust, and personal values can trigger intense conflict around money.Respecting each other's processes is key: Understand that everyone comes from a different place, has different experiences, and different beliefs.It's okay to not have all the answers: Embrace the process of communication, negotiation, and compromise. Connect with Julien and Kiersten on our website, Instagram, Twitter, and YouTube.Join our email list to get updates from us, opportunities for discounts, freebies and a quick rundown on the relevant financial and career news impacting your life. Get our book Cashing Out: Win the Wealth Game by Walking Away, named 2023 best overall book about investing by Business Insider and one of the best personal finance books by ForbesIf you would like to learn more about investing, check out our newest class, Making Money Grow