The Money Seat with Ross Krause: Recent Episodes
KKNW | Hubbard Radio
Ross Krause answers unscripted questions from guests covering topics such as, why accumulating wealth is only a small part of financial planning, whether investment apps are worth it, how to set up and manage a budget, best practices for paying off student loans, how 401Ks work, traditional vs Roth IRA’s, how to save for the rising cost of college, and how to maintain a long-term focus in the stock market.
For his final episode of The Money Seat, Ross focuses solely on retirement planning. Sharing a story about hiking the Grand Canyon, Ross compares that experience to the process of saving for the future – the first part easiest, it’s about getting back up again. Ross also details how the role of a Certified Financial Planner has changed over the last fifty tears. Citing longer life spans, access to more misinformation via the internet and a more DIY approach to financial planning, he explains how today’s CFPs must be more informed and actively involved in client’s long term goals. Ultimately, Ross’s message is clear, whether you’re just starting out or starting to wind down, having a CFP like Ross as your sherpa will save you money and emotion. Connect with Ross at https://www.rosskrause.com
Ross shares that The Money Seat podcast must come to an end for compliance reasons. He shares the origin story behind the podcast and where money falls on his shortlist of priorities. He asserts once again how finding a Certified Financial Planner you can trust means your priorities will align with their focus. Ross also explains why a podcast was the perfect vehicle for an introverted non-salesman like himself and he talks about his frustration with not being able to engage with people via social media platforms to share his mission of financial literacy for all. To learn more about Ross go to https://www.rosskrause.com
Ross welcomes Stacy Heller of STACY CONNECTS to the program. Responsible in part for gathering content and questions, Stacy circles back on a few topics she feels require pushback, clarification or more information. Ross finds himself in the Hot Seat as he responds to feedback from last week’s, House of Cards episode, opinions on retirement investment strategies for 20-somethings and what to know when you know nothing. Each topic further cements Ross’s belief that everyone should be financially literate and everyone should have a Certified Financial Planner who knows YOU. To learn more about Ross go to https://www.rosskrause.com/
After a few reminders about the start of tax season, Ross responds to a series of questions from an interior designer and decorator about the value of investing in your home as your biggest asset. Ross debunks that myth explaining that your 401K and other retirement funds should be your biggest investment. His view is that your assets should be more readily accessible and that investing too much in upgrades and remodels for anything other than personal satisfaction, rarely offers the ROI homeowners hope for. He takes the opposite view for business owners who require brick and mortar space. To learn more about Ross go to https://www.rosskrause.com/
Ross starts out 2022 with an episode inspired by the tradition of making personal, professional, and financial resolutions. Using multiple sources, but mostly an online article from Forbes, Ross responds to common financial advice given to start your new year. From building up cash reserves to taking planned time off, Ross shares seven things to consider that will help set you on a path to a financially successful 2022. To learn more about Ross go to https://www.rosskrause.com/
Ross welcomes Boston-bred, Chicago-based, personal trainer Ted to the show for this two-part episode pre-taped just before Superbowl LV. In part two, Ted poses question four, a question about alternative types of investments to consider. Ross explains the importance of knowing the risk around these types of investments and understanding potential obstacles to accessing your money quickly. Ted’s last question is about how Ross can help those that are young or simply behind the financial eight-ball. Ross begins his response the same way he starts with clients, understanding your debt and goals. Listen to part-one for Ted’s first three questions.
Ross welcomes Boston-bred, Chicago-based, personal trainer Ted to the show for a two-part episode pre-taped just before Superbowl LV. In part one, Ted asks Ross, “Why should you work with a Financial Planner?” Ross explains, likening his services to Ted’s as a personal trainer – a customized experience based on an ongoing relationship built on trust. They also discuss what factors shape a good investment strategy and cryptocurrency. Listen to part-two for Ted’s last questions.
Ross uses his last live episode of 2021 to talk about inflation; he starts by explaining that the rate increase is due to an overcorrection from the real estate bubble crash in 2007. With an average rate increase of 2-3%, the anticipated 6-6.5% increase is sending people into a tizzy. Ross shares and reacts to a recent article from Fortune offering advice for navigating inflation. Listen to learn his thoughts on what Fortune’s eight financial planners suggest and why general advice isn’t advice at all. To connect with Ross go to https://www.rosskrause.com/
After clarifying some points from last week’s episode, Ross spends the rest of the episode breaking down the one question he hasn’t been specifically asked yet – how to afford higher education? Talking about why it’s important to plan beyond simply saving, Ross breaks down what 529 Plans are and how they work. As an investment account that offers tax benefits, Ross explains how no matter what path your children (or you) may take, it’s a great way to ease the financial burden of the future whether it includes private school, college, grad school, technical school, room and board or books. To connect with Ross go to https://www.rosskrause.com/
Will calls in with more questions for Ross; since they last spoke (his 2-part episode aired in June 2021), Will has graduated from college and is gainfully employed. His questions include common concerns for young people trying to save for the future while the present is up in the air. They touch on how aggressive you should be when contributing to a ROTH IRA keeping in mind short term needs, intermediate needs and long term goals, navigating employee stock purchase plans, the pros and cons of “house hacking,” whether cryptocurrency is here to stay, and finally, the volatility of the market as of late November 2021.
Ross makes it to the studio just in time to go live, and is joined by his wife Haley. He starts with a couple questions that were sent in; the first about paying off student loans once the Covid-relief period ends in January and the second about the tax benefit of gifting money before the end of a calendar year. Ross also touches on another year-end deadline, investing in Roths without penalty via a Backdoor Roth. And lastly, Haley asks the question on many a newlywed’s mind, “How much will it cost to have a child?” Ross answers all without breaking a sweat! To learn more or connect with Ross, go to https://www.rosskrause.com/
Ross clarifies a point from his episode about Washington state’s Long Term Healthcare tax; after a listener contacted him, he learned that it’s not currently available, all options are “frozen” for the time being. Guest, Tom from Chicago, is a contact Ross previously answered questions for; after a good experience where he learned a lot, he decided to call in with additional questions. They cover several topics including what to expect with the new infrastructure bill , how inflation impacts investing and sports. To connect with Ross or ask your own question, go to www.rosskrause.com
Ross dedicates an entire episode to address a hot-button topic for Washington state residents; a new payroll tax called the Washington Long-Term Care Tax. The law which goes into effect January 1, 2022 (and is permanent) will tax people’s wages to pay for long-term care benefits in the future. The law is mandatory and will cost $0.58 on every $100 of wages. Washington residents have one opportunity to opt-out of this tax by having a long-term care insurance (LTC) policy in place by November 1st, 2021. Ross goes into greater detail to explain the main points of the tax and what you should know about it if you live or work in WA state. Connect Ross at rosskrause.com if you have additional questions.
After a quick recap of his previous two episodes featuring guest, and now client JD, Ross dives into a text from a senior in college looking for insights about paying for grad school. Ross shares his thoughts from the perspective of the student and what they need to consider and then factor into getting an advanced degree. And he also shares what parents, mentors or guardians should consider if they’re going to offer help financially or otherwise. Lastly, Ross announces his intention to talk next time about the Long Term Healthcare Tax in WA state and what it really means.
Ross invites previous guest JD back to the show to check in on his progress. He first called into The Money Seat looking for help with budgeting, basic financial planning and general guidance about how to get out of the unhealthy financial cycle he was stuck in for years. After the call, JD started working with Ross to educate him on the basics and get him out of his loop. JD’s take on working with Ross, “He was good at making a difficult subject clear, setting me at ease, inspiring me and holding me accountable at the same time.” Take a listen to learn what they did.
Ross gets a call from small business owner Bruce, who has questions about Covid-19 Economic Injury Disaster Loans (or EIDLs) and if given one, how do you maximize the benefits before needing to pay back the loans. The ensuing conversation keeps Ross on his toes and most definitely in The Money Seat. The episode ends with Bruce final question, “Which is dumber, penny stocks or cryptocurrency?” Take a listen for Ross’s answer.
Ross starts the show sharing plans for future shows that will go into more depth on topics like longterm health, refinancing and investing before answering a wide range of questions ranging from Covid’s impact on the market, creating a sustainable portfolio and why working with Ross is different than investing with your banker. Connect with Ross at https://www.rosskrause.com/.
In part two of his episode with Adam, Ross answers Adam’s final two questions. The first question centers on what to do with cash or liquid investments. Ross talks about the necessity of having cash in the bank to cover emergencies and not much else, before turning the tables on Adam to ask him about his financial goals. The episode ends with Ross sharing his opinion about investing in global stocks. To connect with Ross or ask your own question, go to www.rosskrause.com
This two-part episode was recorded right after the GameStop short squeeze in January 2021. Ross is joined by Adam, newly married and living in Illinois, he works in Healthcare doing corporate finance. Ross and Adam discuss MBAs before Adam asks about what was happening with GameStop shares at the time. Part one of the episode ends with a question about how risky you can/should be with 401Ks in your thirties. To ask Ross a question go to www.rosskrause.com
Ross welcomes Stacy Heller of STACY CONNECTS to the program. Stacy has a slew of questions for Ross about owning and operating her small business. Starting with wanting advice about managing the stress and insecurities she has about her financial illiteracy to questions about what she should be doing as a woman-owned business that can make a bigger impact in her personal financial life, Stacy peppers Ross with enough questions to keep it spicy. To work with, question or connect with Ross, go to www.rosskrause.com/.
Back from a bout with Covid (in spite of being vaccinated), Ross addresses several of the questions that have built up in his absence. Beginning with Gail in search of advice about whether you can negotiate salary for a first-time job offer to Hannah who asks the question on a lot of people’s mind; long term healthcare Ross answers their questions and a few more on subjects such as easy apps to track spending, how inflation impacts the market and basic market terms) on a jampacked episode of the money seat. If you want to put Ross in the Money Seat, go to https://www.rosskrause.com/. He’ll address your question on an upcoming episode.
Ross welcomes longtime friend Will Lokridge to the show. Will has a myriad of questions for Ross from whether to invest when the market is high or wait, to financially prepping for retirement with questions about investing in cryptocurrency, saving on taxes and what a CFP does anyway? It’s a mixed bag that Ross handles deftly as usual. To ask a question or connect with Ross, go to www.rosskrause.com
Ross is back in the saddle after getting married! His first guest is Steve from Seattle who has some questions for Ross about retirement planning such as making assumptions on return rates, cash returns, and safe withdrawal rates – topics Ross plans to expand on in a later episode. Ross also answers questions emailed in from listeners Kathryn and Greg who ask about whether to buy or lease and debit versus credit cards and how many to have. To learn more about Ross, ask your own question or connect go to https://www.rosskrause.com/
In part two of his conversation with Sofiya from Chicago, Ross answers questions more specific to newly-engaged Sofiya such as how much each partner should contribute to a joint account when combining resources. Ross responds and jokes that “therapy” resulting from these types of questions is a BIG part of the work he does with clients. Sofiya’s last questions is about green or socially responsible investing. To connect with Ross or ask a question, go to https://www.rosskrause.com/
In part one of another two-part conversation, Ross answers questions for Sofiya from Chicago, an aggressive saver with periods of financial panic. The conversation starts basic, yet broad when Sofiya essentially asks, “What is money exactly?” She follows up with a question about what to invest in if the economy were to collapse. Ross jokes toilet paper and other basics, before answering why that’s not likely in the United States. The conversation then takes a more personal turn which will continue into part two next time.
Ross continues answering Andrew’s questions with far reaching topics including how the role of Financial Planner has evolved over time, how much you should save/invest toward your future, Ross’s core curriculum for financial education, why budgeting is key and more. It’s a lot of information, however, his five cents is priceless. To connect with Ross find him at https://www.rosskrause.com/.
Ross welcomes Andrew from Chicago to the show; a GM at a fast-casual restaurant, his first questions for Ross are about labor costs, managing margins and the conundrum of paying minimum wage. Ross gives Andrew some guidance about how to know what a business can afford to pay versus what they would like to pay hard-working, deserving employees. This leads to a conversation about salaries both here and abroad. Their conversation continues in the next episode of The Money Seat.
On today’s episode, Ross focuses on questions he’s been emailed. Topics range from gifting money and merging accounts when merging lives, to the benefits of life insurance as a singleton and how working with a Financial Planner actually works. There’s a lot covered in this episode, sharpen your pencil and take notes or contact Ross at rosskrause.com.
Part one of a two-part episode. Ross welcomes longtime friend Valery to the show. Valery asks Ross about long term financial planning with her partner and whether they should combine their finances given they’re neither engaged nor married. From there Valery asks how to approach expenses from joint ownership of the home she shares with her partner. They shift gears when Valery asks about tips for starting to invest. Stay tuned for the rest of Valery and Ross’s conversation in the next episode. To connect with Ross with your own questions, go to www.rosskrause.com
Ross welcomes JD of the podcast, “This Show is All About You” into the studio for a conversation about JD’s finances gone awry between school debt, divorce and dumb luck/choices. JD openly (and bravely) shares his struggle and need for help righting the ship so it’s smooth sailing ahead. Ross asks pointed questions to get a clear idea of what they’re facing and starts talking about universal strategies to help JD and others like him navigate their way out of trouble. By the end, JD agrees to work with Ross and check in on a quarterly basis on The Money Seat. To connect with Ross go to www.rosskrause.com
This is part two of a special episode of The Money Seat. Recent college grad, Will Heller continues to pepper Ross with questions. He asks about budgeting and the lore of Robinhood. Ross answers the first question and touches on the missed opportunity most families and schools make in terms of real-life training. He also addresses the pros and cons of Robinhood and similar apps in context to bigger market history and trends. Whether 22 or 52, Ross’s answers are universal.
This episode of The Money Seat, is part one of a two part conversation with recent college graduate Will Heller. Ross answers Will’s first few questions about the unprecedented situation surrounding the GameStop stock boom of 2021, the potential long-term impact of micro investing apps on the industry and the best way to approach paying off student debt loans with the least amount of future financial fallout. The remaining part of Ross and Will’s conversation will air next time.
On today’s episode, Ross answers questions about alternative types of investments such as art and jewelry. The topic covered whether art is an investment and if it has to be considered “valuable” to be of value (read: by a noted artist or in demand). Ross answers similar questions about jewelry, specifically gold. He also covers the varying levels of real estate as an investment. Finally, Ross answers some basic questions like how much to pay attention to your stock portfolio, where to get educated and how and where to start off a curious kid investor.
Today Ross was asked questions via text from a new mom with a 9 month old son; she had a lot of questions about setting up her son’s future for success in spite of currently struggling financially. Ross made some suggestions about accounts they can open and reminded listeners how much even the smallest amount can grow over time. She also asked if she should have her own bank account separate from her boyfriend’s, how to fix bad credit and lastly whether they should have life insurance. Ross shared a helpful acronym - LIFE to explain why everyone should have life insurance. Listen to the episode to learn what it means.
Ross talks with Jack, a junior in college who is starting to contemplate his next steps post-graduation. They discuss paying off student loans and how internships (or any summer job) can help keep ahead of expenses. Jack also asks Ross to expand on 401K basics, what perks are considered valuable when contemplating which job opportunity to take. And lastly, Jack asks Ross about how to factor cost-of-living expenses as he starts job search.
Today Ross spoke with Barb who was curious about whether investment properties are truly an investment and the unique challenges you face in preparing for the next chapter in life. Ross also touched on other ways to diversify your portfolio depending on your life stage. Most important though is your available cash flow.
Today Ross spoke with Grace, a college junior in CT. She asked whether Robinhood is a trend worth looking into or if it’s just a way for guys to impress girls (and vice versa). She also inquired about the growing trend of investing in Roth IRAs, the perils of getting a credit card and where a young woman (or man) should start their financial journey as they prepare to enter the real world post-graduation.
Ross has a conversation with Jason about his current financial situation and how a lack of financial education and familial modeling have impeded his financial journey. Ross gives him some advice and assurances that the educational system has failed multiple generations when it comes to financial literacy.
This week on The Money Seat, Ross answers questions from David, a small business owner considering buying a home with his partner. Since there are no “get rich quick” solutions for making or saving money, Ross suggests prioritizing and patience with your money. They also discuss various IRA options for David including a SEP IRA.
This week on The Money Seat, Ross answers questions from David, a small business owner considering buying a home with his partner. Since there are no “get rich quick” solutions for making or saving money, Ross suggests prioritizing and patience with your money. They also discuss various IRA options for David including a SEP IRA.
To introduce his new podcast, The Money Seat, Ross Krause answers questions about himself, his experience and his purpose in doing a podcast. Moving forward, he’ll be answering questions related to financial planning and money concerns.