Ignition to Wealth: Recent Episodes
Ignition to Wealth
You got a college degree, a job…and debt. Ignition to Wealth jump starts your path to making money and a successful career. Hear from successful people under 30 who found wealth, as they share “Ignition Points” designed to make you money, save you money, and get you out of debt.
In Today’s Episode
Ever hear of the Bucket Strategy? I’m sure you’ve heard us talk about it before. Today, Eric and Brandon breakdown this strategy and what type of investments can be used in each.
What You’ll Get Out of Today’s Show
- Short-term goals
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Savings, checking, high-yield savings, etc.
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Intermediate goals
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CD’s, bonds, index funds, etc.
-
Long-term goals
- Individual stocks, mutual funds, etc.
Links Mentioned in This Episode
ignitiontowealth.com/resources
ignitiontowealth.com/tools
ignitiontowealth.com
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In Today’s Episode
Are I Bonds a viable investment with inflation being so rampant? Eric and Brandon discuss some positives and negatives on I Bonds.
What You’ll Get Out of Today’s Show
- Positives and negatives on I Bonds
- How they might be a great addition to your investing strategy now that they are at 9.62%
- How I Bonds could negate the current inflation rate
Links Mentioned in This Episode
ignitiontowealth.com/resources
ignitiontowealth.com/tools
ignitiontowealth.com
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In Today’s Episode Eric and Brandon go over a few financially responsible options to put your tax refund. They also explain why sometimes taking a little bit of the refund and using it on yourself and/or family is a good thing too.
What You’ll Get Out of Today’s Show
- Some financially responsible options to put your refund towards
- Paying down debt
- Additional mortgage payment
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Roth IRA or other retirement account
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Maybe using a little bit of the refund for a nice night out or a small surprise for yourself, spouse/significant other, and/or family
Links Mentioned in This Episode
ignitiontowealth.com/resources
ignitiontowealth.com/tools
ignitiontowealth.com
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In Today’s Episode
What does the Fed actually do and how do they impact our everyday lives by increasing interest rates? Eric and Brandon answer some common questions about the Fed and breakdown what increased interest rates actually impact.
What You’ll Get Out of Today’s Show
- Brief description of why too hot and too cold of a market can be bad
- How the Fed can keep the market at a ‘lukewarm’ level
- How the following are impacted by increased interest rates
- Stocks
- Bonds
- Savings and high-yield savings
- Consumer credit
Links Mentioned in This Episode
ignitiontowealth.com/resources
ignitiontowealth.com/tools
ignitiontowealth.com
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In Today’s Episode
Eric and Brandon break down some news in the points world. Why is now the best time to book your trips with points? Points will become significantly more devalued within the next couple of years.
What You’ll Get Out of Today’s Show
- How inflation and rising fuel prices are leading to a devaluation of points
- Why points are NOT seen as good long-term investments
- Some airlines and hotel chains are changing how points will be used
- No longer distance based, but based on dollar amount of ticket
Links Mentioned in This Episode
https://grow.acorns.com/use-points-travel-rewards-before-they-get-devalued-in-2022/
ignitiontowealth.com/resources
ignitiontowealth.com/tools
ignitiontowealth.com
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In Today’s Episode
What would happen if you were literally the world’s worst market timer? Eric and Brandon go through a case study discussing what would happen if you only invested at market peaks until retirement.
What You’ll Get Out of Today’s Show
- A hypothetical breakdown of someone who invested right before the 4 biggest crashes from 1972 through 2007
- Why time in the market is much more important than timing the market
- How powerful the 8th Wonder of the World is…Compound Interest
- The important lesson to take away from this hypothetical situation
Links Mentioned in This Episode
https://awealthofcommonsense.com/2014/02/worlds-worst-market-timer/
ignitiontowealth.com/resources
ignitiontowealth.com/tools
ignitiontowealth.com
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In Today’s Episode Eric and Brandon discuss the best ways to redeem credit card reward points! With travel now starting to pick up in the United States, the guys wanted to share some of the more efficient ways to redeem points to fuel your future travel.
What You’ll Get Out of Today’s Show
- Why using your points on short flights is usually less efficient than using them for more expensive or long distance flights
- Why redeeming points on Amazon and other shopping portals might not be worth it
- Some ways to efficiently redeem points on long distance trips
- Why a travel card that partners with multiple airlines or hotels are usually the best cards to get
Links Mentioned in This Episode
ignitiontowealth.com/resources
ignitiontowealth.com/tools
ignitiontowealth.com
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In Today’s Episode
The part of side hustles that isn’t usually talked about…taxes. Yes, side hustle income does need to be reported as income on your tax return, but how does it need to be reported?
What You’ll Get Out of Today’s Show
- A good rule of thumb of what you should set aside for quarterly tax payments
- How working for an App-type side hustle (Grubhub, DoorDash, Uber, etc.) will make it nearly impossible for you to incorrectly report your income with 1099’s
- What threshold may cause you to pay additional fees
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What the IRS constitutes as Intentionally Under Withholding
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Difference between self employment taxes and W-2 taxes
Links Mentioned in This Episode
https://www.cpapracticeadvisor.com/tax-compliance/news/21258991/uber-taxes-yes-gig-job-income-is-taxable
ignitiontowealth.com/resources
ignitiontowealth.com/tools
ignitiontowealth.com
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In Today’s Episode
Should you look at your net worth during a market correction? Eric and Brandon discuss some reasons why they do or don’t and what type of impact it can have on your decision making.
What You’ll Get Out of Today’s Show
- Why you would want to take a look at your net worth during a market correction
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What type of impact it could have on your investing mindset
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Why you wouldn’t want to take a look at your net worth during a market correction
- Best practices during a downturn
- Why a novice investor should not look at their net worth
Links Mentioned in This Episode
ignitiontowealth.com/resources
ignitiontowealth.com/tools
ignitiontowealth.com
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In Today’s Episode
Eric and Brandon discuss the current situation going on with the IRS…24 million returns backlogged! Due to the backlog of returns, there may be a significant delay in getting your return filed.
What You’ll Get Out of Today’s Show
- Detailed statistics on the current backlog
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- 24 million returns behind
- Mix of returns, amended returns, stimulus payments, and correspondence with the IRS
- What seems to be holding up the processing of these returns and notices
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- Amount of paper filings and paper correspondence
- Hiring issues for IRS
- Some best practices to try and avoid these delays and backlogs
Links Mentioned in This Episode
https://www.washingtonpost.com/politics/2022/02/11/irs-returns-backlog/
https://www.irs.gov/filing/free-file-do-your-federal-taxes-for-free
ignitiontowealth.com/resources
ignitiontowealth.com/tools
ignitiontowealth.com
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In Today’s Episode
It’s all in the details! Brandon talks about some new credit card benefits that he’s signed up for. Eric and Brandon also discuss how important it is to pay attention to emails in order to take full advantage of these benefits to cover the cost of the annual fee… especially if you aren’t traveling as often.
What You’ll Get Out of Today’s Show
- American Express and Panera partnership
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- Breakdown of the benefit offered to cardholders and Brandon’s strategy to take full advantage
- Chase Sapphire and DoorDash partnership
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- Breakdown of the benefit offered to cardholders and Eric and Brandon’s strategy of taking full advantage
- A recent update to the benefit to current cardholders
- The importance of using these offers in order to cover your annual fee in benefits…but do it responsibly!
Links Mentioned in This Episode
ignitiontowealth.com/resources
ignitiontowealth.com/tools
ignitiontowealth.com
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In Today’s Episode
Greg and Beth Langston from the College Flight Plan sit down with the guys to discuss the importance of self-discovery at an early age! Our late teenage years are when a lot of very important decisions are made, especially with career and college debt choices. Join us as we get to listen in on how the College Flight Plan has helped students and young professionals make better decisions during this time for over 20 years!
What You’ll Get Out of Today’s Show
- Professional background of both Greg and Beth
- What they experienced as parents raising their children
- What made them realize that self-discovery can put young individuals so much further ahead in life
- How College Flight Plan helps young individuals with self-discovery and self-improvement
- How College Flight Plan leads to saving thousands, if not tens of thousands, in additional student loans
Links Mentioned in This Episode
https://ignitiontowealth.com/college-flight-plan/
ignitiontowealth.com/resources
ignitiontowealth.com/tools
ignitiontowealth.com
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In Today’s Episode
Lot’s of red for investments in January 2022…don’t panic! Eric and Brandon discuss what to do during a pullback (or almost an actual correction) in the market.
What You’ll Get Out of Today’s Show
- Explanation of what we are seeing in the overall market today
- Why this might be a market correction and not just a pullback
- Some things that Eric and Brandon are looking at to invest
- What types of stocks and investments perform best in pullbacks/corrections
Links Mentioned in This Episode
ignitiontowealth.com/resources
ignitiontowealth.com/tools
ignitiontowealth.com
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In Today’s Episode
With the New Year upon us, the guys put together a New Year Financial Checklist! There are a lot of benefits to going through a financial checkup once a year. There’s no better time to do this than at the beginning of the year!
What You’ll Get Out of Today’s Show
- List of financial and personal items to reevaluate
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- Reevaluate Short-Term Goals
- Reevaluate Long-Term Goals
- Review your emergency fund to adjust the balance (especially due to increase in inflation)
- Boost retirement savings based on new increased contribution limits
- Rebalance you portfolio
- Review insurance policies
- Check your credit report
- Review your will
Links Mentioned in This Episode
ignitiontowealth.com/resources
ignitiontowealth.com/tools
ignitiontowealth.com
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In Today’s Episode
Eric and Brandon discuss some important forms that most people will be receiving now that tax season is upon us. The guys run through some of the most common forms that you can expect to receive in order to fill out your return accurately.
What You’ll Get Out of Today’s Show
- Rundown of what forms to expect:
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- W-2
- 5498
- 1099-NEC
- 1099-B
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- 1099-INT
- 1099-DIV
- K-1
- What information is on all of those forms
- When you can expect to receive these forms via email or mail
- BONUS: Brandon tells a story about one of the most interesting tax return signings he has ever worked on!
Links Mentioned in This Episode
ignitiontowealth.com/resources
ignitiontowealth.com/tools
ignitiontowealth.com
In Today’s Episode
Happy New Year! Eric and Brandon are starting off 2022 with a list of goals that they want to accomplish by the end of the year. They hope to inspire their listeners to set some financial goals for the year and to also hold themselves accountable.
What You’ll Get Out of Today’s Show
- Eric and Brandon’s major financial goals and a couple personal goals for 2022
- Why the guys are calling them goals and not resolutions
- Which goals they feel are the most difficult to achieve
- What their biggest goal is to accomplish
- Why the non-financial goals are just as important in the long run as well
- Why being held accountable is so important for being successful in any aspect in life
Links Mentioned in This Episode
ignitiontowealth.com/dividend
ignitiontowealth.com/resources
ignitiontowealth.com/tools
ignitiontowealth.com
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In Today’s Episode
Eric and Brandon talk about the recent dip in the market and what they have been buying as the market has gone red. The guys also go over the psychology of investing as the year comes to a close!
What You’ll Get Out of Today’s Show
- Eric and Brandon go over some individual stocks, mutual funds, and ETF’s
- The guys go over some strategies that they’ve adopted during the last month and why they were buying some of these assets
- An explanation of the psychology of investing
- Background of what the guys did during the huge market dip back in 2020 and what their thought process and psychology was for their decisions and how they apply it to the smaller dips we see throughout the year
Links Mentioned in This Episode
ignitiontowealth.com/dividend
ignitiontowealth.com/resources
ignitiontowealth.com/tools
ignitiontowealth.com
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In Today’s Episode
Eric and Brandon go over some updates with the Ignition to Wealth Dividend Portfolio! It’s an episode filled with new strategies and some new technology!
What You’ll Get Out of Today’s Show
- An update on one holding that the guys are no longer investing in and a new strategy with this change
- Adding a new asset within the fund in the near future and a strategic breakdown as to why this asset was picked
- How DRIPs are allocated out in the M1 Finance app
- A breakdown on DivTracker a new app that Brandon is using to track annual dividends
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- What he likes about this app
- What he is using this app for in the future
- What value DivTracker is adding to his investing strategy and how it helps him make quicker and better decisions…This is NOT a paid ad!
Links Mentioned in This Episode
ignitiontowealth.com/dividend
ignitiontowealth.com/resources
ignitiontowealth.com/tools
ignitiontowealth.com
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In Today’s Episode
Eric and Brandon are back and talking about HSA’s! Open enrollment season is upon us so the guys wanted to discuss the very powerful financial tool of HSA’s!
What You’ll Get Out of Today’s Show
- Updated contribution limits for 2022, catch-up contribution limits for 2022, High Deductible Health Plan deductible for 2022, and High Deductible Health Plan maximum out-of-pocket amounts for 2022
- Explanation of what a High Deductible Health Plan is
- What is a triple tax benefit?
- Strategy for leveraging medical expenses for additional cash flow later...and why saving receipts are critical!
- Why the age 65 is so important with HSA’s
Links Mentioned in This Episode
ignitiontowealth.com/resources
ignitiontowealth.com/tools
ignitiontowealth.com
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In Today’s Episode
Eric and Brandon discuss the updated contribution limits for retirement accounts. The guys also discuss some strategies and some benefits of the new updated limits.
What You’ll Get Out of Today’s Show
- Updated contribution limits for most retirement accounts per the IRS
- Updated catch-up contribution limits for most retirement accounts per IRS
- A numbers example of how much the difference in limits actually make over a long period of time assuming 8% growth per year
Links Mentioned in This Episode
ignitiontowealth.com/resources
ignitiontowealth.com/tools
ignitiontowealth.com
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In Today’s Episode
Brandon received a question from one of his friends about buying a house in the next 18-24 months. Where should you store your money while saving for a down payment? Eric and Brandon break down the question and give their opinions on some of their potential solutions.
What You’ll Get Out of Today’s Show
- A real life example of planning for a purchase of a home
- Eric and Brandon’s input on what they would do in this situation
-
- Allocating between multiple accounts
- Timeline of where to put your money over the 18-24 months
- What types of investments to invest in over this period of time
Links Mentioned in This Episode
ignitiontowealth.com/resources
ignitiontowealth.com/tools
ignitiontowealth.com
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In Today’s Episode
Eric and Brandon discuss the strategy of knowing when to sell an investment. The guys breakdown some reasons why you’d want to cut your losses and some strategies to use when looking at your portfolio.
What You’ll Get Out of Today’s Show
- What signs to look for when an investment no longer fits your portfolio
- Sometimes taking a profit is better than sitting on an investment that you don’t think will keep increasing in value
- How swing trades come into play when selling an investment
- How to incorporate a Stop-Loss in your investment accounts to prevent a blindside drop in value
- Using your losses as a tax loss harvesting strategy
Links Mentioned in This Episode
ignitiontowealth.com/resources
ignitiontowealth.com/tools
ignitiontowealth.com
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In Today’s Episode
Eric provides his thoughts on what Jerome Powell just said about inflation and the coming taper of asset purchases. Eric discusses how the market will react to this taper, and how he plans to invest in the coming year.
What You’ll Get Out of Today’s Show
- Has Jerome Powell changed his viewpoint on inflation?
- What impact will the fed taper have on the market?
-
- Should the average investor be worried about the coming taper?
- What will the projected taper of bond purchases look like?
- When will the Fed raise interest rates?
Links Mentioned in This Episode
ignitiontowealth.com/resources
ignitiontowealth.com/tools
ignitiontowealth.com
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In Today’s Episode
Eric and Brandon provide their thoughts on a topic that has been thrown around in the news most of this year, and that is taxing unrealized capital gains. It’s been tossed around by some politicians as a potential solution to fund the $3.5 trillion infrastructure bill.
What You’ll Get Out of Today’s Show
- Eric and Brandon provide their opinions on taxing unrealized capital gains
- What kind of impact this could do have on the average individual
-
- How strategizing for taxes would be crucial throughout the year
- Individuals finding new ways to invest in order to avoid taxing unrealized gains
- Would you be refunded for having unrealized losses?
- How this idea may have set up some more realistic ideas such as taxing step-up basis
Links Mentioned in This Episode
ignitiontowealth.com/resources
ignitiontowealth.com/tools
ignitiontowealth.com
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In Today’s Episode
Last week, Eric and Brandon took on the No Spend Challenge thanks to some input from Sarah, one of their listeners! This week, the guys break down their individual results from the No Spend Challenge and some things they learned.
What You’ll Get Out of Today’s Show
- Breakdown of both Eric and Brandon’s
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- Weekly total saved
- How that weekly total looks per month
- How that monthly total looks per year
- The guys also analyzed how their monthly saving from unintentional saving looked like in the future assuming 8% compound annual interest
-
- At 5 years
- At 10 years
- At 20 years
- At 40 years
- You’ll be SHOCKED at the results!
Links Mentioned in This Episode
ignitiontowealth.com/resources
ignitiontowealth.com/tools
ignitiontowealth.com
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In Today’s Episode
Eric and Brandon were challenged by one of their listeners to a 7 day No Spend Challenge! The guys break down what a No Spend Challenge is and what they will be doing with the data they find. They also challenge their listeners to participate in the 7 day No Spend Challenge with them!
What You’ll Get Out of Today’s Show
- A description of a No Spend Challenge
- What rules the guys are following for the next 7 days
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- No unnecessary spending
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- Going out to eat
- Non emergency clothing
- Keeping track of what they would have spent at times if the No Spend Challenge wasn’t in place
- The additional positives this challenge can provide
-
- The strength of your budgets
- Potential leaks in unnecessary spending
Links Mentioned in This Episode
ignitiontowealth.com/resources
ignitiontowealth.com/tools
ignitiontowealth.com
If You Want to Support Ignition to Wealth
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In Today’s Episode
Eric and Brandon provide their thoughts on the US potentially defaulting on its debt. What is the debt ceiling and what could happen if the US does default on its debt? The guys also pivot to how they invest and keep track of their investments especially when preparing for a potential dip in the market.
What You’ll Get Out of Today’s Show
- A brief explanation of the debt ceiling and what needs to happen before October 18th
- What if the US defaults on its debt?
-
- How it will impact the everyday individual
- Eric and Brandon’s opinion on how the stock market could potentially react
- What Eric and Brandon plan to do with the market while this situation is going on
- How the guys analyze their individual assets and how they prepare for a potential dip in the market
Links Mentioned in This Episode
ignitiontowealth.com/resources
ignitiontowealth.com/tools
ignitiontowealth.com
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In Today’s Episode
Eric provides his thoughts on the ongoing Evergrande situation in China. What is Evergrande, and how will this company’s debt affect the stock market? Is this the catalyst for a global recession, or will this pass while the stock market soars to record highs?
What You’ll Get Out of Today’s Show
- An explanation of what is going on with Evergrande
-
- The amount of debt this company is in
- What led to this potential default?
- Eric’s opinion on what we should do as investors
-
- Should we sell now and wait out the volatility?
- Buy the dip?
- Seek out other investments?
- Watch and wait while the stock market does its thing?
Links Mentioned in This Episode
ignitiontowealth.com/resources
ignitiontowealth.com/tools
ignitiontowealth.com
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In Today’s Episode
Eric provides an update on the Ignition to Wealth Dividend portfolio! He goes through each stock and briefly discusses the growth in the last six months of the investment. Eric also discusses each of the three stocks he sent out to our email list subscribers in August. He reviews the current price of the stock, and whether or not he will consider buying in the future.
Links Mentioned in This Episode
ignitiontowealth.com/resources
ignitiontowealth.com/tools
ignitiontowealth.com
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In Today’s Episode
Eric and Brandon discuss the dangers of day trading. Can someone really make a career out of trading stocks each day? Is it too risky of an investment strategy? Find out in this episode!
What You’ll Get Out of Today’s Show
- Some inherent risks of day trading
- Some things you have to be aware of when day trading
-
- The need to beat the market
- The need to time the market three times
- Some statistics regarding day trading
-
- The percentage of day traders who made a profit
- The percentage of day traders who make more than minimum wage
Links Mentioned in This Episode
ignitiontowealth.com/resources
ignitiontowealth.com/tools
ignitiontowealth.com
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In Today’s Episode
Eric and Brandon talk about how this year is truly the year of the index funds! They discuss the current events of where some of their favorite index funds are currently sitting, what their year-to-date growth number is, and what their 12 month growth is.
What You’ll Get Out of Today’s Show
- Current Year to Date growth, 12 month growth, dividend yield, and expense ratios of the following index funds:
-
- Vanguard Total Stock Market Index Fund ($VTSAX)
- Fidelity MSCI Information Technology Index ETF ($FTEC)
- Vanguard S&P 500 Growth ETF ($VOO)
- Vanguard High Dividend Yield Index Fund ETF ($VYM)
- Fun fact: FTEC’s lifetime growth (inception date: October 21, 2013) is 406.07%!
Links Mentioned in This Episode
ignitiontowealth.com/resources
ignitiontowealth.com/tools
ignitiontowealth.com
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In Today’s Episode
Eric and Brandon break down the investing strategy buy and hold. The guys stumbled upon an article that gave some opinions on buying and holding and the guys give their opinions on those thoughts.
What You’ll Get Out of Today’s Show
- Eric and Brandon’s opinion on the following statements made in the article:
-
- Buy and hold makes no sense because it implies the risk of assets is always justified by the reward
- Buy and hold implies that prices don't matter
- Buy and hold uses dynamically composed investment indexes (S&P 500, etc.) to support the case for a static investment strategy (buy and hold)
- Buy and hold is a purely offensive investment strategy that ignores the defensive half of the investing equation - risk management
- Buy and hold is passive
Links Mentioned in This Episode
financialmentor.com/category/investment-advice/buy-and-hold
ignitiontowealth.com/resources
ignitiontowealth.com/tools
ignitiontowealth.com
If You Want to Support Ignition to Wealth
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In Today’s Episode
Eric and Brandon continue their discussion on side hustles. Today, the guys focus on side hustles that generate passive income. These can be completely passive, or require a bit of work to get started initially. Each one, however, will definitely help you earn some extra cash to invest!
What You’ll Get Out of Today’s Show
- Ideas on how where to find ideas to earn passive income
- Ways to generate passive income via online surveys and watching online videos
- Bonus idea at the end of the episode!
Links Mentioned in This Episode
ignitiontowealth.com/resources
ignitiontowealth.com/tools
ignitiontowealth.com
If You Want to Support Ignition to Wealth
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In Today’s Episode
Eric and Brandon discuss ways to make additional income through side hustles. There are so many ways to make some additional income to offset some expenses, pay off debt quicker, or even just earn some additional cash to invest...which would definitely be our choice!
What You’ll Get Out of Today’s Show
- Ideas on how to start a side business either using your skills or even just receiving passive income
- Utilizing free online courses to learn new skills to then sell to businesses or individuals
Links Mentioned in This Episode
ignitiontowealth.com/resources
ignitiontowealth.com/tools
ignitiontowealth.com
If You Want to Support Ignition to Wealth
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In Today’s Episode
Eric and Brandon discuss different strategies and scenarios for working your way through school. The guys talk about full-time, part time, and working jobs that may not necessarily have anything to do with your major
What You’ll Get Out of Today’s Show
- An appreciation for the different possibilities of working through school
- Working hard so your boss will work with you in creating schedules that align with your class schedule
- Looking for internships that will advance your future career
- Taking learning experiences from jobs that do not necessarily line up with your future career
Links Mentioned in This Episode
ignitiontowealth.com/resources
ignitiontowealth.com/tools
ignitiontowealth.com
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In Today’s Episode
Aloha! Eric and Brandon are coming to you live from Hawaii! In today’s episode, the guys talk about the steps that were taken to get to Hawaii using points. They also talk about the Islands and some of their favorite activities so far.
What You’ll Get Out of Today’s Show
- How the guys got to the Island’s and some strategies they used
- The importance of splurging a little bit while on vacation. You worked hard for it so don’t be afraid to enjoy it!
-
- Sometimes there are ways to capitalize on splurging...ever heard of bonus points spent on a resort?
- Some activities the guys are doing on the Island’s. Hopefully our listeners can make their way out there utilizing some of our strategies!
Links Mentioned in This Episode
ignitiontowealth.com/resources
ignitiontowealth.com/tools
ignitiontowealth.com
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In Today’s Episode
Eric and Brandon talk about an interesting headline that came up a few weeks ago. How someone was able to generate a balance of over $5 billion in their Roth IRA account.
What You’ll Get Out of Today’s Show
- Background of Peter Thiel, the individual who was able to accomplish this
- Why this is so significant and what kind of benefits a Roth IRA is providing in this situation
- A breakdown of some possible options and strategies that the everyday investor can try to do to copy Peter’s strategy
- Some potential cons to holding a private business in your Roth IRA
Links Mentioned in This Episode
ignitiontowealth.com/resources
ignitiontowealth.com/tools
ignitiontowealth.com
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In Today’s Episode
Eric and Brandon discuss the very necessary topic of keeping your portfolio healthy. The guys will go over some of their typical routines and go over what you should do as well
What You’ll Get Out of Today’s Show
- Performing a wellness check
- Refresher on asset allocation and rebalancing
-
- Touch on auto rebalancing features
- What items you should look at during your rebalance
- Potentially doing some tax planning at year end
Links Mentioned in This Episode
ignitiontowealth.com/resources
ignitiontowealth.com/tools
ignitiontowealth.com
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In Today’s Episode
Eric and Brandon discuss how to perform fundamental analysis on a stock. Not only will they go over a live example, but they will also go over some things that they look at when evaluating a stock.
What You’ll Get Out of Today’s Show
- A breakdown of what Discounted Cash Flow is and how it can be used to evaluate a stock
- A live example of Discounted Cash Flow using Johnson & Johnson
- Some other things Eric and Brandon look for in a stock
-
- Position of company
- Long-term vision
- Debt numbers
- Earnings
Links Mentioned in This Episode
ignitiontowealth.com/resources
ignitiontowealth.com/tools
ignitiontowealth.com
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In Today’s Episode
Eric and Brandon continue the discussion of their addiction to the stock market! Today the guys talk about their watch list, which stocks they are watching closely, and some things to be aware of when evaluating momentum stocks.
What You’ll Get Out of Today’s Show
- A discussion on watch lists for stocks
- Some examples of stocks on the guys' watch lists
- Some things to be aware of in evaluating momentum stocks
- Volatility
- "Missing your window"
Links Mentioned in This Episode
ignitiontowealth.com/resources
ignitiontowealth.com/tools
ignitiontowealth.com
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In Today’s Episode
Eric and Brandon come clean on a confession...they have a stock market addiction! The guys talk about their daily, weekly, bi-weekly, etc. habits for checking the market and their own holdings.
What You’ll Get Out of Today’s Show
- Eric and Brandon’s typical day when it comes to checking the market and their holdings
- The guys also talk about how often they check
-
- Their investments
- Their current balances within their investment accounts
- How many investment assets they own individually and how many they currently are looking at on their watchlist
Links Mentioned in This Episode
ignitiontowealth.com/resources
ignitiontowealth.com/tools
ignitiontowealth.com
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In Today’s Episode
Eric and Brandon continue their discussion on the May CPI Report. They look into how the market and the general public will respond to rising inflation concerns. Will inflation cause a stock market pullback? Or have inflation expectations already been priced in?
What You’ll Get Out of Today’s Show
- A discussion on how companies will respond to inflation concerns
-
- Increased starting wages
- Cost of living adjustments
- A deeper look at how the stock market has responded to the CPI data
-
- Market movement at release, and in the days since
- Other stock market catalysts this week
- Eric and Brandon’s strategy for maneuvering the current state of the market
Links Mentioned in This Episode
ignitiontowealth.com/resources
ignitiontowealth.com/tools
ignitiontowealth.com
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In Today’s Episode
Eric and Brandon breakdown May’s Consumer Price Index (CPI) report. The guys discuss some of the industries with the biggest fluctuations and some real world experiences they have seen recently.
What You’ll Get Out of Today’s Show
- Breakdown of what the CPI report is
- The difference between the month-to-month and annual inflation percentages
- Industries with the biggest fluctuations
-
- Vehicles
- Travel
- Etc.
- Real world examples of how inflation is impacting certain industries and how it’s impacting the consumers
Links Mentioned in This Episode
bls.gov/news.release/pdf/cpi.pdf
ignitiontowealth.com/resources
ignitiontowealth.com/tools
ignitiontowealth.com
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In Today’s Episode
Eric and Brandon discuss the interesting topic of spinoffs. The guys breakdown what a spinoff is and how it applies to the everyday investor. They also discuss an upcoming spinoff that was just announced.
What You’ll Get Out of Today’s Show
- What a spinoff is and why a company would initiate a spinoff
- The behind the scenes work a brokerage firm does to complete a spinoff
- How partial shares are converted to cash in lieu
- Some potential risks of spinoffs and the companies that announce spinoffs
- Breakdown of Pfizer’s recent spinoff back in 2020
- Discussion on what will probably come from the AT&T and Discovery spinoff coming in 2022
Links Mentioned in This Episode
ignitiontowealth.com/resources
ignitiontowealth.com/tools
ignitiontowealth.com
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In Today’s Episode
Eric and Brandon talk about calculating your FI (Financial Independence) Number. The guys discuss some of the easier ways to calculate your FI number and how to incorporate your everyday spending to reach that goal.
What You’ll Get Out of Today’s Show
- How to calculate your FI number
- What the 4% rule is and how it can play a part in retiring early
- Is the 4% rule potentially outdated? The guys discuss their thoughts on this
- The importance a budget plays in achieving your FI number
Links Mentioned in This Episode
ignitiontowealth.com/resources
ignitiontowealth.com/tools
ignitiontowealth.com
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In Today’s Episode
Eric and Brandon discuss some early retirement strategies. Not only will they cover some of the most well known strategies, but they will also give a little bit of insight as to what strategies they use as well.
What You’ll Get Out of Today’s Show
- The importance of increasing your savings rate
- Why a budget will be your best tool
- How simply decreasing your expenses can make a huge impact
- Increasing income and revenue streams can make a huge difference in lifestyle leading up to retirement
- Which strategies Eric and Brandon use the most
Links Mentioned in This Episode
ignitiontowealth.com/resources
ignitiontowealth.com/tools
ignitiontowealth.com
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In Today’s Episode
Eric and Brandon discuss their thoughts on five important topics couples should talk about. The guys will talk about why each topic is important and give their own opinion on which they believe is the most important.
What You’ll Get Out of Today’s Show
- A description of 5 important topics that should be discussed between people in a relationship
-
- Beliefs and values regarding money
- Net worth
- Monthly cash flow
- Financial situation
- Financial goals
- Eric and Brandon will also discuss their opinions on these 5 topics and why it’s important to discuss them if this will be a long-term relationship
Links Mentioned in This Episode
https://invested.mdm.ca/md-articles/five-financial-topics-every-couple-should-discuss
https://tickertape.tdameritrade.com/personal-finance/talking-about-money-to-build-happy-marriages-15205
https://fns-prod.azureedge.net/sites/default/files/crc2015_March2017.pdf
ignitiontowealth.com/resources
ignitiontowealth.com/tools
ignitiontowealth.com
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In Today’s Episode
Eric and Brandon break down the state of the market and discuss some sectors and asset classes they are looking at right now. They discuss how this market downturn is not the time to panic, but to be excited about the potential buying opportunities. Join them as they discuss “The State of Ignition to Wealth,” the mindset one should be utilizing while investing in this market.
What You’ll Get Out of Today’s Show
- A breakdown of which asset classes might be undervalued
- A few stocks that Eric and Brandon are currently looking at and excited to buy
- Insight into how an investor should be feeling about the current state of the market
- An explanation of Eric and Brandon’s current investing mindset
Links Mentioned in This Episode
ignitiontowealth.com/dividend
ignitiontowealth.com/resources
ignitiontowealth.com/tools
ignitiontowealth.com
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In Today’s Episode
Eric shares his research on the subject of cryptocurrency! More specifically, Eric breaks down his knowledge on Bitcoin vs Ethereum. What is Bitcoin? What is Ethereum? What does each one do? What can we do with each one? Find out by listening to today’s episode!
What You’ll Get Out of Today’s Show
- A breakdown of the origin of cryptocurrency
- Insight into Type 1, 2, and 3 Civilizations, and what they have to do with cryptocurrency
- An explanation of Bitcoin’s capabilities and uses
- An explanation of Ethereum’s capabilities and uses
- A breakdown of smart contracts and the implications they carry
- A slight insight into NFTs, Non Fungible Tokens
- A reference to and small explanation of Altcoins
Links Mentioned in This Episode
ignitiontowealth.com/resources
ignitiontowealth.com/tools
ignitiontowealth.com
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In Today’s Episode
Brandon unveils a special project he has been working on, a dividend investment portfolio! Eric asks Brandon questions regarding his insight into picking the stocks and funds that made it into the dividend portfolio. The goal for the portfolio is to create a passive income stream in the form of dividends, so tune in to see how you can utilize this investment strategy! Check out the website to find the full portfolio!
What You’ll Get Out of Today’s Show
- A breakdown of a few stocks and funds that made it into Brandon’s portfolio
- Insight into Brandon’s thought process when evaluating stocks and mutual funds
- An explanation of how to utilize dividend investing to generate a passive income stream
- Information on making a dividend investment portfolio work for you
- An explanation of long term thinking when it comes to dividend investing
Links Mentioned in This Episode
ignitiontowealth.com/dividend
ignitiontowealth.com/resources
ignitiontowealth.com/tools
ignitiontowealth.com
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In Today’s Episode
Eric and Brandon discuss Roth IRA’s...again! Eric and Brandon break down their own strategies and thoughts on Roth IRA’s and even talk about brokerages too.
What You’ll Get Out of Today’s Show
- Extension on IRA contributions
- What investments do you house in Roth IRA’s?
- Some recent individual stock news
Links Mentioned in This Episode
ignitiontowealth.com/resources
ignitiontowealth.com/tools
ignitiontowealth.com
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In Today’s Episode
Eric and Brandon finish their discussion on buying a house. Today, Eric and Brandon debate which is better: renting or buying. It’s Eric vs. Brandon as they provide their arguments for renting and buying a home. Sometimes in real estate, the answer might be more fluid than you’d think
What You’ll Get Out of Today’s Show
- The Pros of Buying a Home
-
- Freedom
- The house is yours after the mortgage
- Investing in a physical asset
- Building Equity
- Potential tax benefits
- The Pros of Renting
-
- Saving money on interest and taxes
- No need to worry about maintenance and repairs
- Short term flexibility
Links Mentioned in This Episode
https://www.cnbc.com/2018/08/09/millions-of-millennials-are-locked-out-of-homeownership-heres-why.html
https://www.marketwatch.com/story/why-it-makes-more-sense-to-rent-than-buy-2018-01-11
ignitiontowealth.com/resources
ignitiontowealth.com/tools
ignitiontowealth.com
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In Today’s Episode
Eric and Brandon continue the discussion on buying a house! Have you looked into purchasing a house in this crazy sellers market? Have you felt overwhelmed with the overabundance of information about buying a house? We’ll help break it down into bite sized pieces for you! Today the guys talk about some important things to keep in mind and some rules of thumb to follow!
What You’ll Get Out of Today’s Show
- HOA fees and why they’re important to keep in mind
- What the heck is going on with Lumber prices?
- How to increase resale value
-
- Location, location, location
- House flipping
- The importance of keeping a fully funded emergency fund
- Utilizing future vision thinking
- The rules of thumb about total debt and total house payments
- Rules of thumb on home affordability and purchase price:
-
- 28/36 rule
- 30/30/3 rule
- 32% rule
- 40% rule
- 2.5 X rule
Links Mentioned in This Episode
ignitiontowealth.com/resources
ignitiontowealth.com/tools
ignitiontowealth.com
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In Today’s Episode
Eric and Brandon discuss the very hot topic of buying a house! Have you looked into purchasing a house in this crazy sellers market? Have you felt overwhelmed with the overabundance of information about buying a house? We’ll help break it down into bite sized pieces for you! Today’s episode is on prerequisites!
What You’ll Get Out of Today’s Show
- Where your credit score should be while looking for a house
- What your down payment number should look like based on your specific situation
- What an FHA loan is
- What PMI is and how it pertains to a loan
- Interest rates and what part they play in valuation
- Debt-to-income ratio and where it needs to be to qualify for a good loan
- The basic steps to get pre-approval
- How important a good realtor is
Links Mentioned in This Episode
ignitiontowealth.com/resources
ignitiontowealth.com/tools
ignitiontowealth.com
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In Today’s Episode
Eric and Brandon continue their conversation about asset allocation! This episode provides some best practices to utilize when determining your asset allocation after learning your risk tolerance.
What You’ll Get Out of Today’s Show
- Things to consider when figuring out your asset allocation
- Types of assets
-
- Stocks
- Bonds
- Money Market Accounts
- The best way to utilize diversification
- Best practices for allocating your assets
-
- Examples based on your risk tolerance
- What rebalancing is and how it applies to your portfolio
Links Mentioned in This Episode
ignitiontowealth.com/risk-tolerance
ignitiontowealth.com/resources
ignitiontowealth.com/tools
ignitiontowealth.com
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The Extra Spark series is here to answer our listener questions and provide extra insight into the world of finance. Today’s segment is on Auto-Enrollment!
Links Mentioned in This Episode
ignitiontowealth.com/risk-tolerance
ignitiontowealth.com/resources
ignitiontowealth.com/tools
ignitiontowealth.com
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In Today’s Episode
Eric and Brandon discuss the very important topic of asset allocation! Have you ever looked into investing and not known where to begin after figuring out your risk tolerance? Well give this episode a listen because we break down the next steps after knowing your risk tolerance, and some tips to get you started on allocating your portfolio!
What You’ll Get Out of Today’s Show
- Things to consider when figuring out your asset allocation
- Types of assets
-
- Stocks
- Bonds
- Money Market Accounts
- The best way to utilize diversification
Links Mentioned in This Episode
ignitiontowealth.com/risk-tolerance
ignitiontowealth.com/resources
ignitiontowealth.com/tools
ignitiontowealth.com
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The Extra Spark is here to answer our listener questions and provide extra insight into the world of finance. Each segment of The Extra Spark aims to provide additional knowledge as requested by our listeners!
Links Mentioned in This Episode
ignitiontowealth.com/resources
ignitiontowealth.com/tools
ignitiontowealth.com
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In Today’s Episode
Eric and Brandon discuss the shining topic of precious metals! The guys talk about the modern history of gold in the United States and some ways to invest in precious metals. The main metals that are discussed are Gold, Silver, Platinum, and Palladium.
What You’ll Get Out of Today’s Show
- What a safe haven asset is
- Why precious metals don’t correlate with the stock market...usually
- How to invest in precious metals
-
- ETF’s
- Physical metals (bullions)
- Risks associated with investing
- Our opinions on how to invest in precious metals and the strategy we would use
Links Mentioned in This Episode
ignitiontowealth.com/resources
ignitiontowealth.com/tools
ignitiontowealth.com
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In Today’s Episode
Eric and Brandon finish up part two on how to buy a car! Join us as we talk about some tips and tricks for buying a car. We’ll also touch on leasing a car as well. Don’t feel overwhelmed with the thought of buying a car ever again!
What You’ll Get Out of Today’s Show
- Explanation of depreciable assets
- Other things that could impact vehicle price
-
- Maintenance fees
- Age of vehicle
- History of vehicle
- Some reasons you can make a case to buy new
- Leasing
-
- What it entails
- What to have in preparation
- Some “non-negotiables” going in
-
- 20% down payment
- Don’t finance fees and taxes
- Shorter terms are best
- Why leases shouldn’t be your first choice but do have a purpose
Links Mentioned in This Episode
kbb.com
carfax.com
ignitiontowealth.com/resources
ignitiontowealth.com/tools
ignitiontowealth.com
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In Today’s Episode
Eric and Brandon discuss part one of a two part series on how to buy a car! Join us while we break down what to look for and how to come up with an affordable number for your situation. There’s no reason to feel overwhelmed after today’s episode!
What You’ll Get Out of Today’s Show
- Bust some common myths on our Fact or Fiction segment
- Talk about a few different methods to come up with how much car you can afford
- Share our personal vehicle purchase stories and our opinions on depreciable assets
Links Mentioned in This Episode
ignitiontowealth.com/resources
ignitiontowealth.com/tools
ignitiontowealth.com
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In Today’s Episode
Eric and Brandon discuss what documents and information you need for your individual income tax preparation. The more prepared and organized you are, the easier and quicker it will be to file your tax return.
What You’ll Get Out of Today’s Show
- Additional documents you need if it’s your first ever tax return
- Income documents:
-
- 1099-INT
- 1099-DIV
- 1099-R
- Brokerage statements
- W-2’s
- Deductions:
-
- Medical expense documents (subject to AGI threshold)
- Charitable deductions
- Property taxes
- State and local taxes
- IRA and HSA contributions
- Credits
-
- AOTC - American Opportunity Tax Credit for college students
- Child credit tax
- Self-Employment records:
-
- Credit card statements
- Bank statements
- Receipts
- Mileage
- Quarterly estimates
Links Mentioned in This Episode
ignitiontowealth.com/resources
ignitiontowealth.com/tools
ignitiontowealth.com
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In Today’s Episode
Eric and Brandon discuss one of the hottest topics in the financial world right now, Short Squeezes! You’ve probably heard about GameStop and AMC, but do you know what’s actually going on? Check out today’s episode to learn about what’s going on and why it matters.
What You’ll Get Out of Today’s Show
- What shorting a stock means
- How a short squeeze occurs
- Explanation of the GameStop situation
- What hedge funds are doing because of the short squeeze
- Robinhood’s involvement
- Our opinions on the matter
- Some potential alternatives for brokerage accounts
Links Mentioned in This Episode
ignitiontowealth.com/resources
ignitiontowealth.com/tools
ignitiontowealth.com
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In Today’s Episode
Eric and Brandon discuss one of their favorite topics, Dividends! Aren’t all Dividend stocks safe? Well, not necessarily. Join us on this episode to find out how to look for relatively safe Dividend stocks and some strategies to utilize them in your portfolio.
What You’ll Get Out of Today’s Show
- What Dividends are and how they work
- Explanation of Dividend Aristocrats and Dividend Kings
- Things to look for with Dividend Safety
- Description of High Dividend Yield and High Dividend Growth Rate
- What a Monthly Dividend Portfolio looks like
- What type of accounts to house these investments in based on your individual situation
Links Mentioned in This Episode
ignitiontowealth.com/resources
ignitiontowealth.com/tools
ignitiontowealth.com
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In Today’s Episode
Eric and Brandon talk about the ever exciting topic of...Social Security. How much do you know about Social Security? Do you think it’ll be around when you retire? Join the guys in today’s episode to hear more!
What You’ll Get Out of Today’s Show
- What is Social Security and how does it work?
- The different types of benefits
-
- Retirement
- Disability
- Survival
- How to incorporate Social Security into your Retirement Planning
Links Mentioned in This Episode
ignitiontowealth.com/resources
ignitiontowealth.com/tools
ignitiontowealth.com
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In Today’s Episode
Eric and Brandon continue their discussion with part two of Retirement Planning. The guys broke down a simple strategy to get you started on your retirement planning in part one, but today they break down some other strategies to get you started!
What You’ll Get Out of Today’s Show
- Strategies to give you a good idea of where to start now that you know what you’re looking for in retirement from part one.
- What the most common strategies are being talked about:
-
- 4% rule and what it actually means
- Million dollar target number and why it might not work for everyone and could be outdated
- Why the 100% Current Income Rule would be a good number to start with
Links Mentioned in This Episode
ignitiontowealth.com/risk-tolerance
ignitiontowealth.com/resources
ignitiontowealth.com/tools
ignitiontowealth.com
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In Today’s Episode
Eric and Brandon start a two part episode on Retirement Planning. Have you thought about at what age you’d like to retire? How much money will you need in retirement? The guys break down a simple strategy to get you started on your retirement planning.
What You’ll Get Out of Today’s Show
- The first steps you should take when looking to retire
-
- Planning out a timeline
- Map out your retirement needs
- Map out your retirement wants
- Some other tips
- Figuring out a net worth number that works for you
Links Mentioned in This Episode
ignitiontowealth.com/resources
ignitiontowealth.com/tools
ignitiontowealth.com
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In Today’s Episode Eric and Brandon continue the discussion on Travel Rewards, except this time it’s on Non-Branded Credit Cards. The first two companies they go over are Capital One and Chase!
What You’ll Get Out of Today’s Show
- Capital One
-
- List of partners
- Breakdown of their two most popular cards: Venture Rewards and VentureOne Rewards
- What to expect with:
-
- Annual fees
- Bonus miles
- Strategies
- Perks
- Chase
-
- List of partners
- Breakdown of their two most popular cards: Sapphire Preferred and Sapphire Reserve
- What to expect with:
-
- Annual fees
- Bonus miles
- Strategies
- Perks
Links Mentioned in This Episode
Thepointsguy.com
ignitiontowealth.com/creditcards
ignitiontowealth.com/resources
ignitiontowealth.com/tools
ignitiontowealth.com
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In Today’s Episode
Eric and Brandon discuss what to look for when searching for a financial advisor! They discuss the qualities a good financial advisor possesses, what services they provide, and the value they can add to your financial well being.
What You’ll Get Out of Today’s Show
- The definition of a good financial advisor
- An outline of the processes a good financial advisor will assist with
- Situations in which having a financial advisor will provide the most value
- Specific qualities to look for in a financial advisor
- An explanation of the different certifications a financial advisor may hold.
- The different types of fees you may encounter when working with a financial advisor
-
- Client fees
- Commissions
- Hourly fees
- Fixed or flat fees
- Assets Under Management fees
- Definition of a Registered Investment Advisory Firms
- How to utilize your financial advisor as a teacher
Links Mentioned in This Episode
brokercheck.finra.org
ignitiontowealth.com/resources
ignitiontowealth.com/tools
Ignitiontowealth.com
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In Today’s Episode
Eric and Brandon continue the series on financial crimes and fraud with the story of Enron!
What You’ll Get Out of Today’s Show
- The rise and fall of Enron
- An explanation of how much of an impact this had on so many people and their well-being
- Comparison to Amazon or Apple in today’s terms
- Types of crimes they committed
- How they were able to function for so long without being caught
- What lead them to being caught
- The final outcome of all individuals involved
Links Mentioned in This Episode
ignitiontowealth.com/resources
ignitiontowealth.com/tools
ignitiontowealth.com
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In Today’s Episode
Eric and Brandon introduce the very exciting and broad topic of Travel Rewards! The guys talk about some of the ways to earn points and even some different Airline Travel Rewards programs that are available. They also talk about the best way to look at points programs, is it similar to a savings account or checking account?
What You’ll Get Out of Today’s Show
- Most efficient ways to earn points
-
- Sign Up Bonuses
- Shopping Portals
- Strategic Spending
- Using Branded Cards
- List of Airlines that offer rewards programs
-
- Delta
- United
- American Airlines
- Hawaiian Airlines
- Southwest
- And many others
- Other tips and things to look for
-
- How do you justify an annual fee?
- What types of perks are out there?
- How do you choose which card to use?
Links Mentioned in This Episode
ignitiontowealth.com/resources
ignitiontowealth.com/tools
ignitiontowealth.com
thepointsguy.com
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In Today’s Episode
Eric and Brandon break down the exciting topic of Credit Cards! The guys talk about some positives and negatives of credit cards, along with fees that are associated with them. They also talk about the different types of credit cards that are out there. Bonus: There’s a bonus trivia question this week!
What You’ll Get Out of Today’s Show
- Some positives and negatives of credit cards
- Types of fees associated with credit cards
-
- Late payment fees
- Balance transfer fees
- Foreign transaction fees
- Over the credit limit fees
- Convenience fees
- Annual fees
- Secured credit cards
- Unsecured credit cards
-
- Student credit cards
- Business credit cards
- Rewards credit cards
-
- Cash back credit cards
- Travel rewards credit cards
- Branded credit cards
- Charge cards
Links Mentioned in This Episode
ignitiontowealth.com/resources
ignitiontowealth.com/tools
Ignitiontowealth.com
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In Today’s Episode
Eric and Brandon discuss the important topic of Credit Building. The guys explain the factors that make up a credit score and discuss some strategies to build your credit. Whether you’re new to the game, have bad credit, or just have some room to grow, this episode is for you!
What You’ll Get Out of Today’s Show
- The 5 factors that make up your credit score
-
- Payment history
- Total amount owed
- Length of credit
- Type of credit
- New credit
- Easiest and best ways to start building your credit
- Strategies to help build your credit
-
- Paying bills on time
- Credit line increase
- Keeping credit cards open
- Student loan restructuring
- Utilizing a monthly FICO score tool
Links Mentioned in This Episode
ignitiontowealth.com/resources
ignitiontowealth.com/tools
Ignitiontowealth.com
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In Today’s Episode
Eric and Brandon start a new series about infamous financial crimes! Al Capone is the topic of discussion today!
What You’ll Get Out of Today’s Show
- The history and story of Al Capone
- Different types of crimes Capone commited
- How much money did Capone really make and where did it mostly come from?
- Run ins with the IRS (Internal Revenue Service) and FBI
- What led to his inevitable downfall
- Prison life and influence
Links Mentioned in This Episode
ignitiontowealth.com/resources
ignitiontowealth.com/tools
Ignitiontowealth.com
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In Today’s Episode
Eric and Brandon breakdown some top level Individual Tax Topics and the main forms of an Individual Tax Return. The guys discuss the types of income that show up on a tax return and how they are taxed. Check out the 2020 and 2021 Tax Brackets!
What You’ll Get Out of Today’s Show
- A breakdown of the 2020 and 2021 Tax Brackets
- Top level review of the Individual Tax return including:
-
- Form 1040
- Schedule 1: Additional Income and Adjustments to Income
- Schedule 2: Additional Taxes
- Schedule 3: Additional Credits and Payments
- Schedule A: Itemized Deductions
- Schedule B: Interest and Ordinary Dividends
- Schedule C: Profit and Loss from Business
- Schedule D: Capital Gains and Losses
- Schedule E: Supplemental Income and Loss
- What is Adjusted Gross Income (AGI)?
- Types of deductions:
-
- Medical and Dental
- Additional taxes paid
- Interest paid
- Charitable givings
- Casualty and theft loss
- Short-term and Long-term capital gains and how they are taxed
- Where rental income, royalty income, REIT’s, passive income, estates, trusts, etc. all get input on the tax return
Links Mentioned in This Episode
ignitiontowealth.com/resources
Ignitiontowealth.com
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In Today’s Episode
Fact or Fiction is back! Eric and Brandon discuss Brokerage Accounts, and the strategies involved in utilizing them for retirement. The guys discuss the different types of income that you can generate from brokerage accounts.
What You’ll Get Out of Today’s Show
- A breakdown of what a brokerage account is and how to use it to your advantage
- Deep dive on short-term capital gains and long-term capital gains and how they are taxed
- What Qualified Dividends and Ordinary Dividends (Unqualified Dividends/Non-Qualified Dividends) are and how they are taxed differently
- DRIP (Dividend Reinvestment Plan) breakdown along with strategies on how to use them to your advantage
- What is a Robo-advisor? A description of what they are and how to know when to use one
- Professionally managed accounts
- A couple options and other tips to look at when finding the right brokerage account for you
Links Mentioned in This Episode
ignitiontowealth.com/resources
Ignitiontowealth.com
https://www.nerdwallet.com/article/investing/what-is-how-to-open-brokerage-account
https://jlcollinsnh.com/stock-series/
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In Today’s Episode
Eric and Brandon wrap up the three part series called The Risk Tiers. The guys explain what characteristics make up Tier 3 and breakdown the different types.
What You’ll Get Out of Today’s Show
- A breakdown of the types of Tier 3 investments
-
- Bonds
- Money Market Accounts
- Certificate of Deposits (CD’s)
- Annuities
- New type of resource with the Risk Tolerance Questionnaire! Answer some questions dealing with risk and get a personalized email with what Tier you fall into based on your answers
Links Mentioned in This Episode
ignitiontowealth.com/risk-tolerance
ignitiontowealth.com/resources
ignitiontowealth.com
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In Today’s Episode
Eric and Brandon continue with part two of the three part series called The Risk Tiers. The guys explain what characteristics make up Tier 2 and breakdown the different types.
What You’ll Get Out of Today’s Show
- A breakdown of the types of Tier 2 investments
-
- Mutual Funds
- ETF’s
- Index Funds
- Real Estate
- Real Estate Investment Trusts (REITs)
- Whole Life Insurance
- Why these investments are considered Tier 2
Links Mentioned in This Episode
ignitiontowealth.com/resources
ignitiontowealth.com
If You Want to Support Ignition to Wealth
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In Today’s Episode
Eric and Brandon introduce a three part series called The Risk Tiers. The guys go into detail about the definition of risk and break down the different types of investments that make up Tier 1, which are riskier investments.
What You’ll Get Out of Today’s Show
-
An understanding of what risk is in finance
-
What factors make up your risk tolerance
-
- Time
- Capital/Resources
- Goals
-
A breakdown of the types of Tier 1 investments
-
- Stocks
- High-Yield Debt
- Derivatives
- Venture Capital
- Cryptocurrency
Links Mentioned in This Episode
ignitiontowealth.com/resources
ignitiontowealth.com
If You Want to Support Ignition to Wealth
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In Today’s Episode
Eric and Brandon discuss Individual Retirement Accounts, and the strategies involved in utilizing them for retirement. The guys discuss the different types of IRAs and the pros and cons of each.
What You’ll Get Out of Today’s Show
-
An understanding of Individual Retirement Accounts, and their advantages.
-
A description of what can be held in an IRA such as stocks, bonds, and ETFs
-
A list of the different types of IRAs
-
An in-depth description of Traditional, Roth, and Rollover IRAs
-
A description of the tax strategies that can be employed through your IRA
-
An understanding of the income that can be used to fund and IRA
-
A description of what to look for in a broker to house your IRA
-
Contribution Limits that apply to IRAs
-
An explanation of how Modified Adjusted Gross Income affects your IRA
-
An explanation of when you can withdraw money from different IRAs
-
An Introduction to the first-time home buyers rule for Roth IRAs
Links Mentioned in This Episode
ignitiontowealth.com/resources
ignitiontowealth.com
If You Want to Support Ignition to Wealth
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In Today’s Episode
Eric and Brandon discuss the ever complex topic of 401(k)’s. Traditional and Roth accounts are discussed along with some discussion on loans, fees, and employer matches. The guys also talk about some audience feedback about the show.
What You’ll Get Out of Today’s Show
-
An explanation and in depth look at 401(k) plans
-
Brandon and Eric touch on some Pros and Cons of 401(k) loans
-
Eric provides an analogy for a better understanding between Traditional and Roth 401(k)’s
-
Eric and Brandon continue the segment Fact Or Fiction, the 401(k) edition
-
Brandon outlines tax bracket contribution limits for different accounts
-
Brandon describes Required Minimum Distributions (RMD’s)
Links Mentioned in this Episode
ignitiontowealth.com/resources
Ignitiontowealth.com
Facebook Group
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In Today’s Episode
Brandon asks Eric a few questions about his personal debt story. Eric holds nothing back in explaining how graduating with student loan debt made him feel, and what he did about it. The guys also discuss debt management strategies, along with their pros and cons.
What You’ll Get Out of Today’s Show
-
An in-depth look at a personal journey with debt
-
Eric details some personal tips he used to make extra payments on his student loans
-
Eric highlights some repayment mistakes he made to demonstrate that it is never too late to change strategies
-
Brandon and Eric unveil a new segment: Fact Or Fiction, the debt management edition
-
Brandon describes Debt to Income ratios
-
Details on different debt management strategies you can use to your advantage.
Links Mentioned in this Episode
ignitiontowealth.com/tools
ignitiontowealth.com
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In Today’s Episode
Eric and Brandon discuss the exciting world of budgeting and the effect it will have on your personal finance story. The guys also examine some sample budgets, and review their pros and cons.
What You’ll Get Out of Today’s Show
-
Brandon shares his first experience with budgeting: his parents’ version of the envelope system.
-
The guys debunk some myths about budgeting that are commonly seen and heard.
-
They cover budgeting in detail from what they are, to what is included in them.
-
They demonstrate how budgeting allows you to take control of your finances, and set aside money for saving and investing.
-
Eric and Brandon discuss the importance of knowing where your money is going and tracking your spending.
-
The guys discuss the differences between essential and non-essential expenses
-
Brandon highlights some simple ways to save money on your non-essential expenses
-
Eric highlights how to save money on some essential expenses and discusses his two-dollar meal plan
-
The guys explore some sample budgets and discuss the limitations of the 50/30/20 budget.
-
Eric and Brandon provide tips to beginning one of the most important steps in your financial journey
Links Mentioned in this Episode
ignitiontowealth.com/resources
ignitiontowealth.com
If You Want to Support Ignition to Wealth
-
Sign up for our email list
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Subscribe to the podcast
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Leave us a 5 star rating and written review
In Today’s Episode
Eric and Brandon discuss what Ignition to Wealth is all about, and provide you with your very first Ignition Point.
What You’ll Get Out of Today’s Show
-
An appreciation for Ignition to Wealth’s goals and aspirations as a project
-
A description of an emergency fund, and what it is designed for
-
A breakdown of some of the most popular vehicles used to house emergency funds
-
An Ignition Point of your own to work on for next week
Links Mentioned in this Episode
investor.gov
If You Want to Support Ignition to Wealth
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Sign up for our email list
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Subscribe to the podcast
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Leave us a 5 star rating and written review