In this recent Wall Street Journal article, the authors give a breakdown of three generic pieces of financial advice we all get in America, and why they may not be the best for you. Jake and Kirk discuss each of them and give you new ways to look at your financial life. For instance, we may want our children to go to college and our parents encouraged their children to attend college, but have we asked if incurring the debt is actually worth the long-range financial setback? Tune in today!

https://www.wsj.com/articles/your-parents-financial-advice-is-kind-of-wrong-11568367000?mod=e2fb&fbclid=IwAR1fWEob_4wm7QFWF3jNEZw73I9m1aSLY9Rx4ktVlyXW32tMAz_ZOQixSug

Have questions about managing your financial lifestyle? Email Jake@youandifinancial.com and Jake Rivas may read your questions on the show!

Follow Jake on Twitter and Facebook @jakestwocents
​
Securities and advisory services offered through Commonwealth Financial Network, Member FINRA/SIPC, a Registered Investment Adviser. Fixed insurance products and services offered through CES Insurance Agency. Actual performance and results will vary. These interviews do not constitute a recommendation as to the suitability of any investment for any person or persons having circumstances similar to those portrayed. Consult a Financial Advisor regarding your specific circumstances. I*financial is located at 1901 NW Military Hwy. STE. 102. San Antonio, TX 78213. Phone number 210-342-4346

It's easy to find negativity around the world today, especially online. But we believe there is much to be optimistic about. With the right support system in your life, you can navigate pretty much anything. That's what we are here for. 

I'm Jake Rivas a financial advisor in San Antonio, TX. I focus on helping millennials navigate their financial lives. As a young person creating my own financial freedom, I am ecstatic about sharing that wisdom with you.

Today I am sharing 6 short audio episodes from my podcast "Jake of All Trades, " where Every week I give my professional perspective on financial topics that impact your every day life. Basically, the stuff we should've been taught in school. 

The short episodes are called Fact Versus Fiction, where I take a common financial misconception and explain what is wrong with that way of thinking. These are under five minutes.

The FVF episodes are 5 minutes or less and packed with the type of advice I give to clients. The episode "Financial Windfalls" is slightly longer, but I explore different ways to utilize a windfall payment like an inheritance (or a bonus check.) 

Last up is a longer episode (around 20 minutes) with my Co-Host Kirk Barbera, where we discuss a news article from the Wall Street Journal about the 2017 tax reforms.

Fact or Fiction: I always pay the minimum payment on my Credit Card and that’s fine.
​
​On this episode Jake helps you understand how credit card companies work and how to have the right mentality with credit card payments.

Fact or fiction? You should always prioritize paying your student loans and mortgage off early.
​
This is a common question Jake receives in his financial planning practice. In this episode he briefly explains both sides of the issues and discusses his views on the common advice given to young people today of "debt free debt free debt free!"

Is that always the best advice?

Powerball has offered opportunities to win  $1.6 billion. Let's say you received a chunk of that money. We all know you will have taxes and such to pay. But after that, what you are left with would be called a "financial windfall."
​
Winning the powerball is unlikely. But, what is quite possible for you is to inherit money from the previous generation. The Baby Boomer generation is the wealthiest generation in the history of the world.

​Some companies have a special feature attached to your retirement plan. The feature is called a profit sharing feature. 

In this episode Jake breaks down exactly what this feature is, how it works and what to do once you have it.
Not every company has this feature.

However, you should discover if you have this option available to you. It is one you may want to take advantage of.

MYTH: The Money in Your FSA Carries over every Year
In this episode, your host discusses Flexible Spending Accounts (FSAs). This is an arrangement through your employers that allows you to pay for many medical expenses with tax free dollars. Jake explains the how FSAs work and many of the common misconceptions surrounding them.
Jake answers:

• What are FSAs?
• How to use them?
• Why use them?

Many people who were not expecting it were hit hard by the new tax reforms. Jake and Kirk discussed how most companies did not help their employees prepare with a proper withholding and also some strategies to ensure your company withholds the proper amount from your paycheck for 2020. https://www.wsj.com/articles/once-more-with-feeling-fix-your-withholding-11555061406

Like the podcast? Subscribe on iTunes or Spotify or wherever you listen to podcasts

Have questions about managing your financial lifestyle? Email Jake@youandifinancial.com and Jake Rivas may read your questions on the show!

Follow Jake on Twitter and Facebook @jakestwocents

Securities and advisory services offered through Commonwealth Financial Network, Member FINRA/SIPC, a Registered Investment Adviser. Fixed insurance products and services offered through CES Insurance Agency. Actual performance and results will vary. These interviews do not constitute a recommendation as to the suitability of any investment for any person or persons having circumstances similar to those portrayed. Consult a Financial Advisor regarding your specific circumstances. I*financial is located at 1901 NW Military Hwy. STE. 102. San Antonio, TX 78213. Phone number 210-342-4346

It turns out that each generation has a different view of when someone becomes an adult. When do you think a person has become an adult?
 
Jake and Kirk discuss the various ways generations think about adulting and how to be an adult. Is the millennial generation really taking the longest to become an adult or are they on the same track as the baby boomers? Also, most surveys find that there is one main subject (hint hint it’s near and dear to our hearts on this show) is the key to max “ADULTING!” Tune in for this fun episode (with dogs!)
 
https://www.goodnewsnetwork.org/its-amusing-the-ways-each-generation-defines-adulting/
 Have questions about managing your financial lifestyle? Email Jake@youandifinancial.com and Jake Rivas may read your questions on the show!
Follow Jake on Twitter and Facebook @jakestwocents
Securities and advisory services offered through Commonwealth Financial Network, Member FINRA/SIPC, a Registered Investment Adviser. Fixed insurance products and services offered through CES Insurance Agency. Actual performance and results will vary. These interviews do not constitute a recommendation as to the suitability of any investment for any person or persons having circumstances similar to those portrayed. Consult a Financial Advisor regarding your specific circumstances. I*financial is located at 1901 NW Military Hwy. STE. 102. San Antonio, TX 78213. Phone number 210-342-4346

“The fix to Public Service Loan Forgiveness hasn’t Helped very much”
 
More than 54,000 people have applied for their public service loan forgiveness, and only 1% (around 640) have had their loans forgiven. This forgiveness program was initiated a little over 10 years ago. The program would begin forgiving loans 10 years later, and that is where we are today. This means that the program will be receiving tens of thousands of more applicants in the near future. And if this problem persists, it will be a major issue. As Jake and Kirk discuss, this program has affected the lives of many people in our country. Maybe yours. Many people chose their majors under the auspices that their loans would be forgiven, if they followed the procedure. They may have been mistaken.
 
https://www.cnbc.com/2019/09/05/this-fix-to-public-service-loan-forgiveness-hasnt-helped-very-much.html
 Have questions about managing your financial lifestyle? Email Jake@youandifinancial.com and Jake Rivas may read your questions on the show!
Follow Jake on Twitter and Facebook @jakestwocents
Securities and advisory services offered through Commonwealth Financial Network, Member FINRA/SIPC, a Registered Investment Adviser. Fixed insurance products and services offered through CES Insurance Agency. Actual performance and results will vary. These interviews do not constitute a recommendation as to the suitability of any investment for any person or persons having circumstances similar to those portrayed. Consult a Financial Advisor regarding your specific circumstances. I*financial is located at 1901 NW Military Hwy. STE. 102. San Antonio, TX 78213. Phone number 210-342-4346

On this episode Jake and Kirk discuss the value of choosing your friends based on your financial needs.  Are you the type of person who can eat a single bite of a chocolate bar and then put it away? If that’s you, then you may disregard this advice! But if you aren’t, it may be helpful to surround yourself with friends who are more frugal.
https://www.wsj.com/articles/frugal-friends-and-how-to-find-them-11566050401

Have questions about managing your financial lifestyle? Email Jake@youandifinancial.com and Jake Rivas may read your questions on the show!

Follow Jake on Twitter and Facebook @jakestwocents
​
Securities and advisory services offered through Commonwealth Financial Network, Member FINRA/SIPC, a Registered Investment Adviser. Fixed insurance products and services offered through CES Insurance Agency. Actual performance and results will vary. These interviews do not constitute a recommendation as to the suitability of any investment for any person or persons having circumstances similar to those portrayed. Consult a Financial Advisor regarding your specific circumstances. I*financial is located at 1901 NW Military Hwy. STE. 102. San Antonio, TX 78213. Phone number 210-342-4346

The current administration is considering privatizing Fannie Mae and Freddie Mac. In 2007, these organizations were privatized. It was after the 2008 crisis that the government stepped in. Is this a good move by the government? If this occurs what would be the effect on normal Americans? Jake Rivas and Kirk Barbera have an interesting conversation about this controversial topic.

https://www.wsj.com/articles/a-primer-on-the-future-of-fannie-freddie-11566898207

Have questions about managing your financial lifestyle? Email Jake@youandifinancial.com and Jake Rivas may read your questions on the show!
​
Follow Jake on Twitter and Facebook @jakestwocents

Securities and advisory services offered through Commonwealth Financial Network, Member FINRA/SIPC, a Registered Investment Adviser. Fixed insurance products and services offered through CES Insurance Agency. Actual performance and results will vary. These interviews do not constitute a recommendation as to the suitability of any investment for any person or persons having circumstances similar to those portrayed. Consult a Financial Advisor regarding your specific circumstances. I*financial is located at 1901 NW Military Hwy. STE. 102. San Antonio, TX 78213. Phone number 210-342-4346

On this episode Jake Rivas and Kirk Barbera discuss a Bloomberg.com article “U.S. Stocks Plunge Most in 2019 on Trade Tension.” Now that investors are beginning to grasp the potential for a long-term trade conflict, they are shifting their investments to haven investments (gold, cryptocurrency.) Meanwhile, China is (supposedly) lowering their own currency. Jake explains all of this and how it affects you. Tune in!
Bloomberg Article:
https://www.bloomberg.com/news/articles/2019-08-04/asia-stocks-set-to-drop-with-trade-back-in-focus-markets-wrap?srnd=premium
Have questions about managing your financial lifestyle? Email Jake@youandifinancial.com and Jake Rivas may read your questions on the show!
Follow Jake on Twitter and Facebook @jakestwocents
Securities and advisory services offered through Commonwealth Financial Network, Member FINRA/SIPC, a Registered Investment Adviser. Fixed insurance products and services offered through CES Insurance Agency. Actual performance and results will vary. These interviews do not constitute a recommendation as to the suitability of any investment for any person or persons having circumstances similar to those portrayed. Consult a Financial Advisor regarding your specific circumstances. I*financial is located at 1901 NW Military Hwy. STE. 102. San Antonio, TX 78213. Phone number 210-342-4346

When the federal reserve changes its interest rate policy, how does this affect you? Since the 2008 financial crisis interest rates have been set quite low in historic standards. Growth occurred slowly despite the change in interest rate policy. This very well may change the way interest rate policy will be determined in the future. Jake Rivas and Kirk Barbera discuss this change in the interest rate policy and how you can plan your financial future around these changes.
https://www.bloomberg.com/news/articles/2019-07-23/a-decade-of-low-interest-rates-is-changing-everything?srnd=businessweek-v2
Have questions about managing your financial lifestyle? Email Jake@youandifinancial.com and Jake Rivas may read your questions on the show!
Follow Jake on Twitter and Facebook @jakestwocents
Securities and advisory services offered through Commonwealth Financial Network, Member FINRA/SIPC, a Registered Investment Adviser. Fixed insurance products and services offered through CES Insurance Agency. Actual performance and results will vary. These interviews do not constitute a recommendation as to the suitability of any investment for any person or persons having circumstances similar to those portrayed. Consult a Financial Advisor regarding your specific circumstances. I*financial is located at 1901 NW Military Hwy. STE. 102. San Antonio, TX 78213. Phone number 210-342-4346