Tag Archives: investing

The Podcast Post

“Sounds boring.”
“Like the news?”
“I’ll just listen to music.”

These are just a few of the responses that I’ve gotten when I’ve mentioned that I listen to podcasts, or encouraged others to do so. For those of you out of the loop, a podcast by definition is “a multimedia digital file made available on the Internet for downloading to a portable media player, computer, etc..” Perhaps this boring definition is the very reason people avoid them. Among non-listeners, I’ve noticed some pretty major misconceptions about these audio gems! For one, they don’t have to be boring. There are so many different types of podcasts that I’m confident every single person could find one that engages and interests them. They are also not all news-related (though of course, some are). I actually do get most of my news fix from my podcasts, but they certainly don’t have to serve that purpose for everyone. I usually listen to my podcasts when I’m in the car or walking for a while (time that would otherwise be totally unproductive), and they’re perfect for just that. Think about all of the time you spend in your car each week. If you were enjoying a podcast or listening to an audiobook, think of how much more you could take away from that experience. I look forward to my commute every day because of the way I spend it. I’ve heard some of the most thought-provoking stories of my life on “This American Life,” laughed with “Wait… Wait… Don’t Tell Me,” and learned to understand the global economic crisis (in a fun way) with “NPR’s Planet Money.”  I highly recommend to any non-listeners, take a moment and think about when you are on the move and least productive, perhaps even bored. Now fill that time with one of the following podcasts (all available on iTunes) that I highly recommend. You’ll never look at travel time the same way again.

 

This American Life
Genre: Radio journalism.
Quote from website:
“So usually we just say what we’re not. We’re not a news show or a talk show or a call-in show. We’re not really formatted like other radio shows at all. Instead, we do these stories that are like movies for radio. There are people in dramatic situations. Things happen to them. There are funny moments and emotional moments and—hopefully—moments where the people in the story say interesting, surprising things about it all. It has to be surprising. It has to be fun.”
Why I listen: I’ve shared many moments with this show over the past three years, during which I’ve been a devout listener. I’ve learned a surprising amount of useful information, heard countless tales and true stories that have taught me lessons and some that have changed my perspective. This is my favorite podcast by far and I highly recommend it to anyone and everyone.

The Moth
Genre: True Stories Told Live
Quote from website:
“Moth shows are renowned for the great range of human experience they showcase. Each show starts with a theme, and the storytellers explore it, often in unexpected ways. Since each story is true and every voice authentic, the shows dance between documentary and theater, creating a unique, intimate, and often enlightening experience for the audience.”
Why I listen: People have amazing stories tell. Period. If you don’t have the courage to make conversation with others about their lives, attend a Moth event or listen to the podcast, it may inspire you to start doing just that.

Stuff You Should Know
Genre: Informational
Quote from Wikipedia:
“The podcast, released every Tuesday and Thursday, educates listeners on a wide variety of topics, often using popular culture as a reference giving the podcast comedic value … The podcast covers a variety of odd questions and topics, like How Twinkies Work, Do Zombies Exist?, How Tickling works, and How Albert Einstein’s Brain Worked.”
Why I listen: Josh and Chuck are the funniest pair in the podcast world, as far as I’m concerned. They take you through the most mundane and obscure parts of our world, and make you laugh along the way. Before long you’ll find yourself pulling out random facts about everything mid-conversation.

NPR: Planet Money
Genre: Economics (it’s interesting and fun, I promise!)
Quote from website:
“Money makes the world go around, faster and faster every day. On NPR’s Planet Money, you’ll meet high rollers, brainy economists and regular folks — all trying to make sense of our rapidly changing global economy.”
Why I listen: The broadcasters that record and put together this show do a fantastic job at taking a topic that many assume is boring (economics) and making it extremely interesting and relevant to your immediate world and mine. Recent episode topic: Did Katy Perry’s record label make money off of her last year? The answer may surprise you.

Motley Fool Money
Genre: Investing & Finance
Quote from website:
“Discussions of topics related to recent news from Wall Street and Washington, DC that affects investors.”
Why I listen: Though I don’t have an exorbitant amount of money to invest, I like to listen to this podcast because they talk a lot about big corporations and tech companies. Listening has educated me on how good companies run, which ones are good and bad bets, and the way the business world functions.

So… which one will you listen to first?


Tips for a Wealthy Gen-Y Retirement

Your future wealth is in your hands right now!At the tender age of 21, I began saving for retirement. If I was more financially-conscious years earlier, I would have started saving the day I was legally capable of opening an account. Since I began to think about my personal finances I’ve read dozens of articles, blogs, magazines, and books on the subject; I continue to read more every day. Thinking retrospectively, I wish the importance of saving and investing was stressed in my high school days. Though I’ve never been a big spender, at that age I never had a concept of how important growth is to accumulating wealth. Your money cannot simply sit in a savings account and subsequently provide a cushion of money for your later life. Accumulated wealth doesn’t unfold that way. Perhaps a simpler but more important concept that failed to be taught was the idea of compounding. I hope you are all educated on compounding, as I won’t get into details (if you aren’t familiar, check out The Simple Dollar’s explanation). Since opening this account, I have made a financial plan for my future, which I fully intend to accomplish (most likely once I begin a stable career post graduate school). Nevertheless, I’ve begun planning and handling my money to prepare a comfortable retirement (something that is grimly forecasted for Generation Y). If you haven’t begun already, it is never too late (but it definitely helps to start early)! Here are few (basic) tips to get you started:

1. Open a retirement account.

I’ve been amazed to hear how many people entered their 30′s, 40′s, and even 50′s without a dime towards retirement. For 20-somethings, you’re probably hoping that you’ll be in a higher tax bracket in retirement than you are now. If this is the case (although there are exceptions), a Roth IRA is right for you. In a Roth, you contribute after-tax income at your current tax rate, therefore avoiding your higher tax rate in retirement. There are several limitations on income and contributions, so before opening a Roth you should do more research to ensure it is a good fit for you.

Recommended Reading: Comparison Table from www.SavingtoInvest.com

2. Create a Budget.

What is the point of allocating your cash if you don’t know how much you need and for what? If your goal is never to touch your savings, you need to be aware of your living expenses. You should do a thorough assessment of all expenses and create a budget (a much less daunting task than many believe it to be). There are thousands of resources on the web to help you create a realistic budget that will get you on track for financial responsibility. Though budgeting is a regular responsibility, something that needs maintaining, it is a necessary part of your growth as a saver! With a budget, you can set aside enough of your income to cover expenses and any cash you want for pleasure (responsibly, of course). Anything else can be put towards your savings, retirement, or debt. There are various strategies about the order in which to contribute to these entities, and the situation varies for everyone; talk to a knowledgeable individual or a financial planner about what your best options are.

Recommended Reading: Four-Step Budget Template from Life After College

3. Read, read, read. Then adopt a plan a stick with it.

The more you read, the more you’ll be able to cater to your individual financial circumstances. Whether you start following Suze Orman, reading personal finance blogs, or listening to audiobooks, find a resource that you enjoy learning from and can effectively incorporate into your life. There is a wealth of knowledge (pun intended) out there, and the only way to absorb it is to reach out. Hopefully, if you’re like me, you’ll find that taking responsibility for your personal finances can be fun, interesting, and exciting! With time and effort you’ll see your debt (if you’ve got any) shrink, and your net worth grow. Why wait until you’re middle-aged to think about these things? Form your plan now!

Recommended Reading: Free Financial Freedom Blueprint courtesy Gen Y Wealth

These are three very basic jump-starts to your wealth-building. This list could go on and on, but there are plenty of resources out there for you to learn from. This process can be a thrilling one if you choose to make it so. You’ve got the power of your future in your hands, right now!

As there is much left to be said about this journey, please share your additional tips in the comments. We all need to learn from one another!


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