My Piggie Bank: Recent Episodes
Ed Sutkowski and Chuck LeFebvre
My Piggie Bank, a listener supported podcast, cuts through the noise to reveal uncompromised, absolute financial truths behind financial perceptions. With a combined 75 years of real-life financial experience, Ed Sutkowski and Chuck LeFebvre offer practical and actionable steps that lead to a solid, financial future.
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Moneyball
No one understands the "plans".
Free chicken on the 14th.
Ed and Chuck are 4's on the wierd scale.
There are alot of taxes.
"Don't accept the money, disclaim it".
CRT's
78 Cent Coffee
McDonald's Coffee is Not Bad
Long Lines at Dunkin' Donuts
Ed Loves to Talk About New Cars
Everyone Needs a 4X4
Joyrides in Chicago
IRS Audits
"My Cousin Vinny"
New and Improved Taxes
Special guest John Morris, CEO and president of the Peoria Riverfront Museum, joins Ed and Chuck for a discussion concerning profitability for non-profits.
The art of giving it all away
Magic number $11,579,999.99
Everybody is trying to take your money
12 million dollar toothpaste
Chicken feed
Give it all to charity?
Dancing with Ted Lewis. Who wouldn't want to?
Win the lottery. Hide the cash in your basement closet.
Free income for all?
Artists living in barns. Good/bad/spacious?
No more payroll tax
Jobs are expensive
Dissolving a professional corporation
The dreaded double tax
$9.8 trillion
Buy a sliced bread factory
Bad ideas never vanish
Everyone gets a 6% pay raise
There is no secret sauce
Ed's dog picks stock winners better than an investment adviser
Greek myths and the Internal Revenue Code
Charlie Chaplin was married 5 times
Should you invest in apartments?
Location, location, location
Don't sell your apartments, even after you die.
Cap Rates
Wind farms, solar farms, and old-fashioned growing corn farms.
The farmer says "you always gotta eat".
Only fall in love with dogs.
The Economist says "no one should own a home, but keep buying our magazine".
Kids aren't buying homes or cars.
Apartments bring in a lot of cash.
Exit strategies
Ed says "kids will not listen".
Forget dealing drugs. Open up a hospital.
Hospital CEO's coined the phrase "laughing all the way to the bank".
The Me Too Movement.
Hospital CEO's want special treatment when they get a manicure.
Dogs receive better medical treatment than people.
No one knows how much a new knee costs.
Becoming a doctor doesn't equal financial freedom.
In short, don't get sick and don't go near a hospital.
The eternal optimist.
"What do you do?"
Some custodians clean floors, some make buckets of money.
It's not hard for Ed to be surrounded by bright people.
Jack Welch was a celebrity.
It might rain frogs. The old guys have long tongues and all of the green.
$25 million gets you "premium content".
The 4 delusions.
Challenge executives at an open meeting.
Snake in the shirt trick.
Ed and Chuck are interested in a $400,000 vacation package.
Who re-decorated their office for $1.2 million?
It's not Peter, Paul, and Mary stealing from you.
The 12b-1. Investment advisers secret money machine.
3 proven ways to steal a clients money.
Should you learn Chinese?
Returning phone calls.
Hiding fees behind bonds.
Quick. Who says this? "I can steal your money and shine your shoes?"
Chuck likes low-skilled investment advisory firms.
You don't need Chucks permission.
40 year old technology time machine.
Who told on Bernie?
15 new cars. One for Ed? Nope.
Active vs passive investing.
What's an index?
Sail your yacht and do nothing.
Hit the throttle to maximize performance.
The best investment in the World.
I can't sleep at night.
Ladders. $1,000 to 1 million, maybe 10 million.
The most infamous investment manager quote, "I will make you a multi-millionaire when you retire".
The investment managers 1% skim-trick debunked.
"My best friend is an investment manager." Should someone ever say that?
Don't hug your investment adviser.
Car dealers and investment advisers mentioned in the same sentence. Hidden clue?
Investment advisers earned a lot of blurbs on this episode. Too many? Not enough?
Ed loves to dial up tons of information on his computer. Chuck probably does it. Should you?
"I'm a stock broker?" Do people still fall for that?
The most fascinating topic ever.
Start a squirrel flying school.
Banks don't loan money.
Convince your family to work for free.
Custodians have it made.
Building rocket ships with Elon Musk.
How many times can you visit your grandkids? and for how long?
Pickleball anyone?
American's are punished for working.
Ed is run over by a different truck. Last time didn't work.
Lobster pot revisited.
Value is a joke.
The ladies want a free ride in Ed's Buick.
Ed doesn't like tennis, golf, or pickleball. Does Chuck?
Chef+Wealthy Friend+"Great Idea"=Disaster
Food stamps don't buy diapers.
Fire your mom.
The greatest thing since sliced bread? The cash balance pension plan.
Everyone understands quantum physics.
Protect your assets.
People don't do what they should.
I have a house in Nevada and Boca Raton. I own a bunch of cars. I'm Jay Leno.
Live within your means.
Chasing high income from wages is foolish.
One paycheck a year.
Borrow money.
Take the leap. Few do.
Avoid income tax on over $300,000 of earned income.
The best kept secret of the tax code.
The old-fashioned pension plan.
Politicians keeping numbers under wraps.
Too much confusion.
The best thing since sliced bread revealed on the next episode.
ESOP's
Lawyers and accountants can't make hay from this.
Everyone can have skin in the game.
United Airlines and The Chicago Tribune.
Avoiding taxes.
The 80-20 rule reveals itself again.
How can you determine the value of anything?
Lose your job and your retirement plan tanks. Bad day.
Putting eggs in one basket.
Directors should have a lot of skin in the game. How much?
Spending other people's money.
Ed and Chuck might be run over by a tractor.
Ed and Chuck differentiate between the various qualified arrangements.
IRA's
SEP IRA's
Conversations from 20 years ago.
401(k)
Defer as much as you possibly can.
We are not looking to scratch anyone's back.
"Ed you are an obnoxious SOB but your results aren't too bad".
Deferring self gratification.
Protect your money from creditors.
IRA's are great for divorces.
Don't pay Obamacare tax, payroll tax, or State income tax.
Don't invest your money, invest someone else's.
Don't be a blockhead.
Ed and Chuck talk about the role of the investment adviser.
What happened to the term "stock brokers"?
Life insurance products and salesmen. They walk a thin line.
Financial planners, investment advisers, investment managers. Same? Different? Exploitative?
You win they win. You loose they win.
Quants of the World.
Ed is watching out for car bombs.
Whoring both sides of the street.
No back scratching.
Should you ask your surgeon for dental advice?
Accountants, family members, attorneys, and plumbers. None of these people should manage your money.
Look both ways when crossing the street.
Ed and Chuck elaborate on the investment process.
200 years of success.
The 80-20 rule shows up again.
Create leverage with debt.
There are no pockets in shrouds.
Fun mathematical principals with Chuck.
The magic of compounding interest.
If you want to loose money, leave it in your checking account.
Inflation is real.
Hidden fees in all insurance products.
Tread water with gold investments.
Can people teach cows how to fly?
Ed and Chuck remain in the Accumulation Phase and discuss "Why Income Taxes Matter".
The worst income source.
Aaron Rodgers makes a zillion and his life is being threatened.
CEO's are custodians.
How many cars can you drive?
How many pairs of shoes can you wear?
Fools' errands.
Ed's old car.
How much does happiness cost?
Don't be a blockhead.
IRA's, ESOP's
Teaching dogs to solve quadratic equations.
Long-term capital gains.
Die with debt.
Ed and Chuck discuss the various forms of business organizations.
"Should I form a corporation for a business I am starting?"
Corporations as liability shields.
Jeff Bezos ran over my dog. Sue Amazon and Jeff.
No corporate or business organization can insulate you from liability.
Accounting magic tricks.
Lobsters in a pot. Reach in and get burned.
Congress doesn't want you to work.
Ed and Chuck dive into the asset accumulation stage.
Becoming a part of a tribe.
Everyone wants a friend. Get a dog.
Default to the truth.
What are your concerns, what are your fears.
Focus on the journey.
Where are you going?
What is your destination?
Are you better today than yesterday?
Ed and Chuck help you determine your risk-reward levels as it pertains to investing.
The 80/20 debt rule.
Debt as a moral failing?
Budgets?
"I have no debt". "I have no cash".
The real definition of "investment risks".
The psychology of investing. Fear of failure.
Losing, winning, not even in the game.
Getting to know yourself.
Ed and Chuck explain the difference between investment and personal assets.
Is your house an investment?
Nominal vs real rates of return.
Life insurance? Good, bad, or just ugly?
Do you have a financial "adviser" or simply a good friend?
Ed Sutkowski and Chuck LeFebvre explain why they decided to publish a podcast, how the show will benefit the listener, and a preview of the upcoming episodes.