Catching the Coin: Recent Episodes
Tim Rosen & Troy Barrilleaux
Catching the Coin is a highly unique and insightful weekly podcast dedicated to creating more wealth for you. We do this by sharing tips, trends, and non-conventional thinking, enabling you to save and keep more of your hard-earned coin!
We offer solid wisdom on investing, reducing living expenses, and buying smart; all while helping you avoid dangerous financial pitfalls!
We will provide tools to help you learn to live with more passion, greater focus, and catch more coin!
Fun, Food & Entertainment: It's like Disneyland for your ears!
Hosted by Tim Rosen and Troy Barrilleaux each Wednesday. Subscribe now and don’t miss our jam packed informational episodes each week!
Tim and Troy briefly reflect upon the past 50 weeks of serving up Catching The Coin and The Lighter Side on this final episode and talk about the transition to the new podcast—Faith and Finances.
In This Episode We Look At: * What we've learned and what our listeners may have learned. * Re-visiting our personal favorite episodes * How to find and follow us on our new podcast
One Thing You Can Do Today to Improve Your Financial World: * Go and listen to our new podcast over at Faith and Finances, of course.
What Are Your Thoughts? If you have a question or comment about today's topic, we invite you to share your thoughts.
We've heard that for years people are living longer!
Now we are noticing a new phenomenon of older people who actually want to keep working.
Today we review an article written by Linda Marsa, posted on Nautil.us, entitled "Retiring Retirement".
In This Episode We Look At: * The aging of America is not the crisis that is often portrayed in the media or even in scholarly papers. + > “Today’s seniors are healthier, better educated, and more productive than ever,” Richard Johnson says. “The challenge we face is finding ways to harness their talents.” > > * There have always been people who defy society’s expectations: Jimmy Carter, 91; Bernie Sanders, 74; George H.W. Bush, 91 * With medical and technological breakthroughs we can reach our older years in better health than previously expected * Our own thoughts of working into our 70's and 80's. Will Troy become an astronaut? Will Tim recite poetry in a beatnik coffee shop? Tune in to find out!
Today's Resources and Links: * Source Article—Retiring Retirement * Older People Are Happier—Ted Talk * "Unretirement: How Baby Boomers are Changing the Way We Think About Work, Community and the Good Life" by Chris Farrell [Affiliate Link]
One Thing You Can Do Today to Improve Your Financial World: * While we normally advocate investing for your future, we challenge you today to invest in your health. For a healthier (and less expensive) life in your later years, combine regular exercise with responsible eating habits.
What Are Your Thoughts? If you have a question or comment about today's topic, we invite you to share your thoughts.
Rules! Who actually gets excited about following rules?
Today we review 10 Money Rules that you really should be following.
In This Episode We Look At: * Good old standards like: + Live below your means + Pay yourself first + Treat your retirement funding like a regular bill * The how's and whys for saving to make purchases, avoiding debt, and daring to be different than the over-spending, non-saving crowd
Today's Resources and Links: * Source Link * Richest Man in Babylon, by George Clayson [Affiliate Link]
One Thing You Can Do Today to Improve Your Financial World: * Pause for a moment and take a personal, financial inventory. How would you grade yourself on these 10 Rules? Which rules have you resisted or rejected? Which can you start applying to your financial world today?
What Are Your Thoughts? If you have a question or comment about today's topic, we invite you to share your thoughts.
It's nostalgic to look back at the past decades and notice the outdated trends and technology that no longer exist.
Yet, when it comes to financial advice; it's disturbing to learn just how many beliefs and teachings still abound that are clearly outdated.
Today, we review a blogpost on TheSimpleDollar titled, "Outdated Financial Advice".
In This Episode We Look At: * Financial beliefs and advice that are still alive and kicking, but should be let out to pasture, like: * + "Depend on your husband's income" + "Find a solid company and work there until you retire" + "Everyone should attend college immediately after High School" + "You should buy as much home as you can afford" + "Always use a Debit card instead of Cash"
Today's Resources and Links: * Outdated Financial Advice
One Thing You Can Do Today to Improve Your Financial World: * Ask yourself when reading or receiving financial advice: "Is this true for my financial needs today?"
What Are Your Thoughts? If you have a question or comment about today's topic, we invite you to share your thoughts.
The poverty line for a family of three is $20,090 a year. The median household income in America is $53,657. Politicians draw $250,000 as the line between the middle and upper classes. And the true starting point of real wealth remains a cool $1,000,000.
Esquire magazine asked four more or less typical men, each of whom earns one of these incomes, to tell them about the lives they can afford.
Tim and Troy re-enact the interviews and discuss the results…
In This Episode We Look At: * The benefit of having and maintaining a household budget * The irony of higher earners who do not despise their income tax rates * America offers a system that provides equal opportunity, not equal reward
Today's Resources and Links: * Esquire Article
One Thing You Can Do Today to Improve Your Financial World: * Take a close look at where every dollar in your household is going. Assign a budget to the controllable expenses.
What Are Your Thoughts? If you have a question or comment about today's topic, we invite you to share your thoughts.
Sprichst du Deutsch? We don't sprichst German either (although we've been known to spritzen some lime into our water).
Do you speak Financial Jargon? We do! We are going to explain some of the most misunderstood terms in the money realm.
In This Episode We Look At: * The meanings, in plain English, of such terms as: + 401(k) + IRA + Net + FICO score + Unrealized Gains/Loss
Today's Resources and Links: * Financial Jargon Decoded * Common Stock Market Jargon Explained
One Thing You Can Do Today to Improve Your Financial World: * Review these terms to increase your comfort level of understanding. Never hesitate to ask for clarity when speaking with a financial professional.
What Are Your Thoughts? If you have a question or comment about today's topic, we invite you to share your thoughts.
Prognosticators have been making their predictions since long before we were born.
What is a Prognosticator? Someone who makes predictions and forecasts. Let's take a look at that….
In This Episode We Look At: * Infamous predictions of the past—that didn't happen * Current financial predictions and how acting upon them can destroy your wealth * Why individuals and institutions make predictions? HINT: They can profit from your fear.
Today's Resources and Links: * You can have a look at the downside of predictions, in the shoes of one who made a big prediction and learned to regret it: LINK
One Thing You Can Do Today to Improve Your Financial World: * Learn to recognize the Doom and Gloom predictions. Stay true to your planned investment strategy and remember that wealth is created by owning equities for the long term.
What Are Your Thoughts? If you have a question or comment about today's topic, we invite you to share your thoughts.
Today we address a question that comes up often as Tim counsels couples- "Should we start a home-based business?"
In This Episode We Look At:
What are MLMs, and why do they often carry a negative stigma?
Are there legitimate MLMs and do they work?
Our suggestions for those wanting to jump in
Today's Resources and Links:
Top MLM Companies
Best Multi-level Marketing
One Thing You Can Do Today to Improve Your Financial World:
Take some time and consider products or services that you personally believe in and are excited about. Balance that with the possibility that you may earn as much, if not more money, simply picking up a part-time job in an area you enjoy.
What Are Your Thoughts?
If you have a question or comment about today's topic, we invite you to share your thoughts.
"This is not your father's retirement!"
Today's focus of retirement is shifting from deadline-oriented planning (retire at 65) to longevity in the workplace with more mobility (work as long as I feel productive, but on my terms).
In This Episode We Look At:
- Defining Traditional Retirement: With its age requirements and dependence upon Social Security and/or a pension; is it all that it's cracked up to be?
- Retirement Re-engineered: Less age-based and more mobility-minded: with the advent of countless remote capabilities, today's worker can earn an income while living remotely
- Financial fundamentals cannot be overlooked while shifting between retirement mindsets
Today's Resources and Links:
- Retirement methods compared
One Thing You Can Do Today to Improve Your Financial World:
- Do some serious soul-searching and ask yourself just how much you enjoy the current field you are working in. Would you work longer in life if you were working in a different field? Why not pursue that now?
What Are Your Thoughts?
If you have a question or comment about today's topic, we invite you to share your thoughts.
Tim and I were talking about this episode and I got to thinking about an Internet meme that I saw on Facebook. It was a cute cat waiting to be petted with the caption, "I really want you to pet me, but I also kinda want to bite you." See Below, lol.
That pic really sums up the duality of our human nature in that our short-term goals normally conflict with our long-term goals. We really want to accomplish both, but they rarely intersect in practical ways without some serious lifestyle planning.
Hence the title, "Ice cream and Saving Money"; we speak about what that means on a very practical level. "I want to be healthy and fit, but I really want ice cream." "I want to financially independent in my retirement years, but I want a new car and bigger house." And of course, "I really want you to pet me, but I also kinda want to bite you."
In This Episode We Look At:
Why "may the best one win" might be ok for battling ice cream cravings, but that attitude won't cut it for retirement saving
How blind spots and bad inputs can wreck your path to financial health
The importance of having reasonable expectations and timeframes with your lifestyle changes. Stay Focused!
Today's Resources and Links:
- Art of Manliness discusses willpower
One Thing You Can Do Today to Improve Your Financial World:
- Saturate yourself with quality personal finance material (Hey, I can think of a podcast to start with!) Find blogs to read and podcasts to listen to that will keep your awareness and focus on your long-term goals.
What Are Your Thoughts?
If you have a question or comment about today's topic, we invite you to share your thoughts.
A light and fluffy take on some money issues.
Tim drags me to the mall to replace a 10+ year old suit… a podcast episode ensues… The best part is that I forgot my wallet, lol.
Today, we'll be doing things a bit different and I'll (Troy) be interviewing Tim about his book, Against the Grain. The point of the interview is to help explain the "using non-conventional wisdom" part of our podcast objectives.
Since his book is wholly focused on going against some of today's financial conventional wisdom; it's perfect to use as a template for our explanation.
In This Episode We Look At: * Part 1: "Live for Today!" * Part 2: "Max Out Your 401K" * Part 3: "Pay Off Your Mortgage"
Today's Resources and Links: * Against the Grain [Affiliate Link]
One Thing You Can Do Today to Improve Your Financial World: * Realize that many times conventional wisdom stems from an untried or untrue foundation and is only popular because of our herd nature as humans. Strive to be above the herd and be as financially healthy as possible.
What Are Your Thoughts? If you have a question or comment about today's topic, we invite you to share your thoughts.
The Lighter Side of Money is a shorter, light, and fluffy take on money issues.
Today we share some iPhone apps that are our absolute must-haves. We also argue about screen clutter and the definition of nesting.
Patterns Produce A Product. Think about that.
Besides being a catchy alliteration, it demonstrates the truth that how we habitually act will always produce a result - whether good or bad.
In This Episode We Look At:
- Taking an honest look at ourselves to identify patterns that lead to unwanted products in our finances
- Clearly identifying replacement patterns to achieve desirable financial results (product)
- The myriad benefits of making small adjustments in our financial patterns
Today's Resources and Links:
- Mint
One Thing You Can Do Today to Improve Your Financial World:
- As the video of my golf swing unmistakably displayed my faulty swing pattern- take an objective look at your money patterns. What ONE pattern could you adjust that would give you the greatest improvement in your financial health?
What Are Your Thoughts?
If you have a question or comment about today's topic, we invite you to share your thoughts.
A light and fluffy take on some money issues.
Tim and I discuss the monumental success (or lack thereof) of our conjoined garage sale.
There seems to be a supplement for just about everything concerning the human body. While there's nothing inherently wrong with many supplements on the market these days, it's easy to go overboard. Doing so can negatively impact your financial well-being.
In This Episode We Look At:
- A blogpost by Drew Housman, posted on TheSimpleDollar.com
- When supplement consumption becomes excess
- External "pressures" to purchase supplements
- Some common sense alternatives to many supplements
Today's Resources and Links:
- Source Article
One Thing You Can Do Today to Improve Your Financial World:
- Check your cabinet where you store your vitamins and such. Are there supplements you haven't taken in the last year or two? Chances are, you don't need them. Look to whole foods as a source for your nutrients.
What Are Your Thoughts?
If you have a question or comment about today's topic, we invite you to share your thoughts.
A light and fluffy take on some money issues.
Today, Tim and I beat up some fitness supplement marketing silliness.
Do you recall the time when you had to pay for long distance phone calls? Times seemed to have changed quite quickly.
There are many services that have either evolved or simply become free through fair competition.
Today, we discuss a blogpost written by Holly Johnson for TheSimpleDollar.com.
In This Episode We Look At:
-
The many sacred cows that we just assume we need to pay for- not so!
-
Free alternatives for such things as Rental Car coverage, ATM fees, credit score services and more
Today's Resources and Links:
- Source Article
- RetailMeNot's Mobile Apps
One Thing You Can Do Today to Improve Your Financial World:
- Don't freely give your money to companies who don't realize that it's 2016! Choose to keep your money and put it to work for you.
What Are Your Thoughts?
If you have a question or comment about today's topic, we invite you to share your thoughts.
A light and fluffy take on some money issues.
Today, Tim wanders around a group of 9 yr olds trying to get some financial advice.
You get an unexpected bonus or tax refund and you're wondering what's the best way to improve your financial picture with those funds. Should you invest it, or should you pay off debt?
Today, we discuss a GetRichSlowly.com article by William Cowie titled "Why investing can be better than repaying debt".
In This Episode We Look At:
- Risks that can be negated by paying off debt. It's not healthy for anyone to make assumptions of future job income.
- Enhancing our lifestyle by eliminating debt. Freedom is far superior to indebtedness .
- The wealth-building benefits of compounding growth. Investing now and consistently for maximization of financial growth.
Today's Resources and Links:
- Link to original article at www.getrichslowly.com
One Thing You Can Do Today to Improve Your Financial World:
- Strike a balance and split "extra" money between eliminating debt and investing. Time is a crucial factor in both areas.
What Are Your Thoughts?
If you have a question or comment about today's topic, we invite you to share your thoughts.
A light and fluffy take on some money issues.
How much money would motivate you to dig in some dumpsters? You may be surprised (we sure were!) at how much people have made from dumpster diving or garage sale hunting.
Warnings are often good things. Warnings can saves lives… and warnings can save your finances. Today we attempt the latter as we review an article by Suba Iyer posted on GetRichSlowly.com
In This Episode We Look At:
- Lifestyle spending mistakes to avoid
- Taking care of your health (No, you're not 10ft tall and bulletproof)
- Career changes later in life; you're not too old to "Level up!"
Today's Resources and Links:
- Source Article
- Epic Safety Video
- Family Financial Workbook, by Larry Burkett [affiliate link]
One Thing You Can Do Today to Improve Your Financial World:
- Look at your level of saving, investing and spending. Would you say you are on a profitable trajectory or is there a need for some tweaks? Better to make small adjustments now, than to be in a position later when you have to make MAJOR adjustments.
What Are Your Thoughts?
If you have a question or comment about today's topic, we invite you to share your thoughts.
A light and fluffy take on some money issues.
Today we talk about Tim's ties… and suits… And consider that I may be a slob in regards to dress.
When it comes to money, we all prefer positives in life over negatives, right? It's hard to beat the joy experienced when you discover a large tax refund. But is a large tax refund financially wise?
In This Episode We Look At:
- The definition of a tax refund: Is it a bonus, did you win something?
- The missed opportunity which we refer to as "The Poverty Process"
- We'll show you how to harness the power of your refund throughout the year using "The Prosperity Process"
Today's Resources and Links:
- IRS page for the W-4
- TurboTax explains the W-4
- Fund Your Future: a Tax-Smart Savings Plan by Ed Slott [Affiliate Link]
One Thing You Can Do Today to Improve Your Financial World:
- Look at your last three years of tax returns and check for a pattern of consistent refunds of over $1,000. That's money that can be better managed throughout the year by YOU, not the IRS. Adjust your W-4 today.
What Are Your Thoughts?
If you have a question or comment about today's topic, we invite you to share your thoughts.
A light and fluffy take on some money issues.
We examine what some folks have found in their backyards. Expect everything from gold to Louis Lane to turn up back there.
Why do you work as hard as you do?
Most of us would give the noble answer that we work to provide for ourselves and family. But how many can answer correctly (it's yourself!) when asked, "Who gets paid first when you get paid?"
In This Episode We Look At:
- Three enemies of your financial future
- Three moves to defeat those enemies
- A real-world look at the difference between financial dependence (where most Americans remain) and financial independence
Today's Resources and Links:
- Richest Man in Babylon, by George Clayson [Affiliate Link]
- Rich Dad, Poor Dad, by Robert Kiyosaki [Affiliate Link]
- Have a free Audible book on us (first time users only) [Affiliate Link]
- Debt elimination calculator [Credit Karma]
One Thing You Can Do Today to Improve Your Financial World:
- Decide to make the changes, even hard changes, required so that you can start paying yourself first. Then use an online calculator to project how much you can accumulate over the next 10, 20, even 30 years!
What Are Your Thoughts?
If you have a question or comment about today's topic, we invite you to share your thoughts.
A light and fluffy take on some money issues.
That's no laugh track in the background. Today we talk Valentine's Day with an unexpecting crowd of friends.
A bear market is a gift from the financial Gods-and the longer it lasts, the better off you will be. Instead of running from the bear, you should embrace him.”
Jason Zweig The Wall Street Journal “Stop Worrying, and learn to Love the Bear” July 12, 2008 “The Intelligent Investor”
Today we take an objective look at bear markets- the period of time when markets drop 20% or more- and consider ways to profit from such market conditions.
In This Episode We Look At:
- The misbehavior of most investors and how you can benefit from doing the opposite
- The destructive effects of mainstream media
- The key strategies for enduring long term through Bear Markets.
Today's Resources and Links:
- Video: Is there already a global bear market?
- The Elements of Investing [Affiliate Link]
One Thing You Can Do Today to Improve Your Financial World:
- Investors that endure market volatility- Bear Markets- are provided the opportunity to obtain better returns than fixed income securities. Be strong and courageous through down markets and buy more of what you own while the prices are down!
What Are Your Thoughts?
If you have a question or comment about today's topic, we invite you to share your thoughts.
A light and fluffy take on some money issues.
Zombies! In this Lighter Side episode, Tim picks Troy's brains about the pending zombie apocalypse.
In times of downward volatility, many investors run to bonds. Why is that? And should everyone own some bonds?
In This Episode We Look At:
- Hedging against the volatility of stocks with bonds
- Understanding the main categories of bonds and which may serve you better
- Bond duration and how that impacts the safety of your principle
Today's Resources and Links:
- Here is a helpful visual illustrating the increasing risk of longer term bonds.
- Here's a quick rundown of the pros and cons of bonds.
- The Pocket Idiot's Guide to Investing in Bonds. [Affiliate Link]
One Thing You Can Do Today to Improve Your Financial World:
- Take a look at your 401(k) or brokerage statement and identify what fund, if any, may represent bonds. The word Bond may be in the fund name, or you see "Government Fund" or "Fixed Income", which also consists of bonds. Is that portion too much or too little for your stage of life? Adjust it accordingly.
What Are Your Thoughts?
If you have a question or comment about today's topic, we invite you to share your thoughts.
A light and fluffy take on some money issues.
Looking to make over $100,000 a year? How about being a chef on a submarine in Australia? Tim and Troy take on some interesting jobs that can rake in over 100K Benjamins.
It can be said that our lives are the sum total of our habits. There are habits we know we have, but there are also habits that we don't realize we have. Yet, there is a reward or consequence for each habit in our lives.
Ellie Kay is the co-author of "Lean Body, Fat Wallet" an incredibly insightful book that helps you learn and apply new habits that will bring improved physical and financial health.
Also known as America's Family (and Military) Financial Expert, Ellie will share how she has been able to positively impact the lives of thousands of people.
In This Episode We Look At:
- The 3D Habit: Determine, Distract and Delay
- The In and Out Habit (Nope, not burgers!)
- The Sustainable Lifestyle Habit
Today's Resources and Links:
- EllieKay.com
- Lean Body, Fat Wallet: Discover the Powerful Connection to Help You Lose Weight, Dump Debt, and Save Money [Affiliate Link]
- RetailMeNot's Mobile Apps
- TravelZoo's Mobile Apps
One Thing You Can Do Today to Improve Your Financial World:
- Choose just One of these habits taught today and determine to apply it to your life this week. Share this new habit decision with your spouse or best friend and ask them to keep you accountable.
What Are Your Thoughts?
If you have a question or comment about today's topic, we invite you to share your thoughts.
A light and fluffy take on some money issues.
In this episode we talk about some really bad excuses for calling in to work.
So many investors, having experienced the ups and downs of the market , or perhaps have suffered setbacks and great loss, are desperate for a quick-fix or easy way out.
We hear stories like, "If you would have invested $100 in Coca Cola when it first went public, you'd have over $10,000,000!"
They hope to find that hidden nugget or the Guru who will tell you which stock is going to skyrocket to 1000%.
In This Episode We Look At:
- Being aware of the temptation to take short cuts
- Identifying actual scams and cons, as well as the emotions which cause us to fall prey to them
- Real world formulas for financial success
Today's Resources and Links:
- We really appreciate and recommend Stephen Covey's seminal work, "7 Habits of Highly Successful People" [affiliate link]
- Here's an awesome Ted Talk on the key to success.
- I (Tim) was really challenged and encouraged when I listened to Tim Ferris' interview with Kevin Costner on building his career.
One Thing You Can Do Today to Improve Your Financial World:
- Love what you do for a living and pour passion into it (or change careers to pursue what you are passionate about). Commit to keeping a portion of everything you earn - it is yours. Invest it for your financial future.
What Are Your Thoughts?
If you have a question or comment about today's topic, we invite you to share your thoughts.
A light and fluffy take on some money issues.
Today we give our take on some rather ridiculous Kickstarter campaigns.
Now is a really good time of year to take a rest of sorts: to pause and think.
We want to encourage you to pause and consider the source of your future income.
Will you work until you die? Do you wish to be able - financially - to stop working ?
Obviously, you will still need money.
In This Episode We Look At:
- The Reality of higher future income taxes and the possibility of avoiding them
- Plans to reduce the taxation of your future income
- How to contribute to a Roth IRA when you exceed income limits
Today's Resources and Links:
- "The Power of Zero" by David McKnight [Affiliate Link]
- IRA FAQs - Rollovers and Roth Conversions
- The Back Door Roth Conversion [Wall Street Journal]
One Thing You Can Do Today to Improve Your Financial World:
- Plan today to beat tomorrow's egregious income taxes. Take advantage of the Roth IRA and non-retirement accounts to greatly minimize or eliminate the taxation of retirement income.
What Are Your Thoughts?
If you have a question or comment about today's topic, we invite you to share your thoughts.
Let's be real: Money isn't exactly a romantic topic to discuss while dating…. so many couples avoid it.
Today we've invited our wives to join us on the podcast. We speak candidly about the differences in our views on money, and how we went from conflict to copasetic!
In This Episode We Look At:
- Intentionally learning about your spouse's upbringing for a better understanding of their personal views
- Identifying underlying views toward our spouse that undermines real communication
- Getting on The Same Page and strengthening your relationship and finances
Today's Resources and Links:
-
Faith and Finances- Eternal Promises for Today's Resources [Affiliate Link]
-
YNAB app link
-
Our friends over at The Simple Dollar have a great read about joint/separate finances in marriage.
One Thing You Can Do Today to Improve Your Financial World:
- Sit down with your spouse and seek to understand each other's financial influences early in life. Do NOT place blame.
Establish action plans based on each other's strengths.
What Are Your Thoughts?
If you have a question or comment about today's topic, we invite you to share your thoughts.
A light and fluffy take on some money issues.
Last week we discovered some outrageous tax deductions; this week we'll look at some outrageous taxes.
Tim and I hope that you had a Merry Christmas and will have a Happy New Year.
We invite you enjoy one our most popular episodes while we enjoy some time off with our families.
Please consider and enjoy Episode 7, The $500K Car.
A light and fluffy take on some money issues.
Is body oil a valid tax exemption?
Disturbingly enough, the answer is yes…
You know the drill… Christmas is past and there's only a few days before the New Year and you don't have any goals or resolutions written down.
While our tendency is to hastily write vows that will be abandoned within two weeks, perhaps there's a better way?
In This Episode We Look At:
- When it comes to pursuing change or improvements, less is best
- The power of focusing on ONE thing.
- What an anchor habit is, and how it helps create other, supportive habits.
Today's Resources and Links:
- "The Power of Habits"
- YNAB (You Need A Budget)
- "The One Thing"
One Thing You Can Do Today to Improve Your Financial World:
- Choose just ONE area in your financial world to improve or change for the better and stick with it. It will become habit and other supportive habits will develop around it.
What Are Your Thoughts?
If you have a question or comment about today's topic, we invite you to share your thoughts.
A light and fluffy take on some money issues.
Today we look at the crazy amounts of money people spend insuring their body parts.
John Michalski was 28 and earning $12 an hour when he set out to buy his first house in 2009. Today he is 34 and plans to retire in 2016.
We will hear from John how he planned, saved, and hustled to get to where he is now, as well as his plans moving forward.
We were challenged and inspired by John's story and believe you will be too.
In This Episode We Look At:
- How John saved up $5,000 for his first house, and $20,000 for his second
- Hard lifestyle adjustments that John made in order to reach his goals
- The sources John sought for instruction, guidance, and mentorship
- Applying John's strategies to your situation
Today's Resources and Links:
- Biggerpockets.com
- "The Millionaire Next Door"
- "The Four Hour Work Week"
- John's Website- Weddingphotobliss.com
- John's Facebook
One Thing You Can Do Today to Improve Your Financial World:
- Clearly define your financial goal and then decide what real world adjustments you are willing to make in order to achieve that goal. Educate yourself by seeking the wisdom and counsel of others who have achieved success in the area you are pursuing.
What Are Your Thoughts?
If you have a question or comment about today's topic, we invite you to share your thoughts.
You can reach us on Facebook, Twitter, or email us.
A light and fluffy take on some money issues.
Today we tackle the true cost of The 12 Days of Christmas as well as expose the secret behind the numbers in the song.
Christmas is meant to be a time of celebration, joy, and gratitude. However, we easily allow pressures (Black Friday, feeling obligated to buy pricey gifts, the stress of travel) to rob us of this joy.
In This Episode We Look At:
- The benefits of focusing on experiences
- Choosing a total dollar amount for gifts
- Creative ways to be thoughtful this season
Today's Resources and Links:
- Average American spending on Christmas
- Apps/Tools to help with Christmas budgeting
- A Christmas Carol Movie or Book.
One Thing You Can Do Today to Improve Your Financial World:
Do yourself a favor and avoid debt. Discuss and establish what is a reasonable amount of money to spend on Christmas gifts. If it's causing you stress, then lower the budget!
What Are Your Thoughts?
If you have a question or comment about today's topic, we invite you to share your thoughts.
You can reach us on Facebook, Twitter, or email us.
Due to the fact that they aren't normally included in the process, many kids see their parents providing for their needs and wants but have little concept of the value of money.
This next generation needs our help to learn the rewards of work, the benefits of saving, and the need to avoid debt.
In This Episode We Look At:
- Your power of influence on your children's view of money
- Creative ways to teach young ones to wait and save up for purchases
- Helping teens understand and prepare for the costs of living in the grown up world
Today's Resources and Links:
- The app Troy's wife used with their kids- iAllowance and the free trial version- iAllowance
One Thing You Can Do Today to Improve Your Financial World:
- Use dinner together or the drive to school to have fun and educational talks about money with your kids.
What Are Your Thoughts?
If you have a question or comment about today's topic, we invite you to share your thoughts.
You can reach us on Facebook, Twitter, or email us.
In Episode 4 about how to preserve your source of income by increasing your knowledge, skills, and having a strong work ethic.
Nevertheless, one accident or health issue can cause you to lose all sense of financial security.
Your parents and grandparents were truly on to something when they quoted Ben Franklin: "An ounce of prevention is worth a pound of cure."
In This Episode We Look At:
- Can your family survive a missing paycheck? How about several paychecks?
- Unplanned life events that can cause us to lose it all.
- Whether to self-insure or leverage the risk onto someone else.
Today's Resources and Links:
- www.SelectQuote.com- website for life insurance quotes
One Thing You Can Do Today to Improve Your Financial World:
- Grab some low-cost term insurance while you are young and in good health. This serves to replace the income your family is dependent upon in the event you leave this world.
- Bonus Tip: Avoid the Big Box retailers- go online (link above) and get insurance companies competing for your business; or get several quotes from your trusted financial advisor.
What Are Your Thoughts?
If you have a question or comment about today's topic, we invite you to share your thoughts.
You can reach us on Facebook, Twitter, or email us.
Tim Rosen is the author of two books, Against The Grain- Avoiding the Financial Pitfalls of Conventional Wisdom, and Faith and Finances- Eternal Promises for Today's Resources.
He is also an International Speaker whose main focus is to coach individuals in prudent investing - helping them avoid gambling, speculation, and destructive investor behavior.
Today we get to hear about Tim's personal journey; from retail management to coaching investors and overseeing $23 Million in assets.
Today's Resources and Links:
- Against The Grain- Avoiding the Financial Pitfalls of Conventional Wisdom [Affiliate Link]
- Faith and Finances- Eternal Promises for Today's Resources [Affiliate Link]
One Thing You Can Do Today to Improve Your Financial World:
Reach out to us with YOUR story if you'd like to be featured as a guest on Catching the Coin!
What Are Your Thoughts?
If you have a question or comment about today's topic, we invite you to share your thoughts.
You can reach us on Facebook, Twitter, or email us.
According to a study prepared for the Financial Industry Regulatory Authority Investor Education Foundation, 84 percent of Americans have been solicited with a potentially fraudulent investment offer.
How can you know when an offer, recommendation, or deal is a fraud or legit?
In This Episode We Look At:
- Ponzi schemes that destroyed lives and the perpetrators that pulled them off
- Incredibly destructive advice from some well-known financial magazines
- There are no sophisticated investors. We mention some rather famous people who were duped in Ponzi schemes.
Today's Resources and Links:
- Study prepared for the Financial Industry Regulatory Authority Investor Education Foundation
- "Madoff with the Money" book from Amazon
- Brokercheck Website
One Thing You Can Do Today to Improve Your Financial World:
- Always know who actually has your money by utilizing a member SIPC third party custodian. These member organizations will have insurance to cover you in the event of their fraud.
What Are Your Thoughts?
If you have a question or comment about today's topic, we invite you to share your thoughts.
You can reach us on Facebook, Twitter, or email us.
The world of investing can be murky. When seeking the help of an Investment professional, how can you know if they are putting your interests before their own?
Today we interview Dan Cuprill from Cincinnati, Ohio. Dan is a Certified Financial Planner and Chartered Financial Consultant who has been assisting investors since 1994 with a less-than-common approach of doing so.
In This Episode We Look At: * Pros and cons of Wall St. "What does McDonald's have in common with buying stocks?" * We'll find out why Dan says, "Everyone I've ever met pays more in taxes than they should." and what taxpayers can do about it. * What is a Backdoor Roth IRA?
Today's Resources and Links: * The Investment Answer * QuizDan.com
One Thing You Can Do Today to Improve Your Financial World: When choosing an investment professional, look for someone who is focused on educating and guiding you instead of focused on selling a product. There should also be a "feel-good" connection between you.
What Are Your Thoughts? If you have a question or comment about today's topic, we invite you to share your thoughts.
You can reach us on Facebook, Twitter, or email us.
This is NOT the show where we teach you how to get out of debt. There are great programs and books out there that can help with eliminating debt; that's Dave Ramsey's wheelhouse. I wrote about it in Against The Grain and I like David Bach's book on the subject as well.
If someone is disciplined and has the right perspective of credit cards, can they be used to our advantage?
In This Episode We Look At:
- Addressing the question, "Do you need to have credit today?"
- Building or re-establishing credit
- Financial benefits of using credit cards wisely
- Fraud protection
Today's Resources and Links:
- Credit Karma
- The Total Money Makeover, Dave Ramsey
- Against the Grain, Tim Rosen
One Thing You Can Do Today to Improve Your Financial World:
- If you have the discipline to avoid keeping a debt balance, shop for the one credit card that offers the largest reward (a percentage in cash back or miles - whichever benefits you the most.) Look to avoid annual fees as these are often not necessary in order for you to receive the rewards.
What Are Your Thoughts?
If you have a question or comment about today's topic, we invite you to share your thoughts.
You can reach us on Facebook, Twitter, or email us.
Ah! The American Dream of home ownership.
Wait… what decade are we in?
After WWII, America got back to work and started the Baby Boom. As a result, new home construction and purchases boomed as well.
The American Dream was born.
The question for today is whether home ownership remains part of the American Dream? And more importantly, is YOUR home really an investment?
Get the rest of the show notes here.
There was a period of time when this setting aside money for your children was not only thought to be noble, but also found its way into practically every financial planning textbook.
Unfortunately, every family has their own set of values and traditions.
While there is no empirical yes or no to the question, "Should we set aside money for our children's future?", we will look at some pros and cons for those who choose to do so.
In This Episode We Look At:
- The importance of taking care of YOUR finances as a priority.
- Setting a SPECIFIC and MEASURABLE savings goal.
- Protecting your family assets: a quick glance at estate planning.
Today's Resources and Links:
- A good start to finding the right estate planning attorney for you.
- READ- Beyond the Grave, Revised and Updated Edition: The Right Way and the Wrong way of Leaving Money to Your Children (and Others)
One Thing You Can Do Today to Improve Your Financial World:
- Determine if you plan to pass assets on to your children (or others) someday, and if so, speak with an estate planning attorney for assistance.
What Are Your Thoughts?
If you have a question or comment about today's topic, we invite you to share your thoughts.
You can reach us on Facebook, Twitter, or email us.
Time is an invaluable commodity. As we wrap up our "Where Does Wealth Come From?" series with Part 3, we look closely at 3 different aspects of time and how they relate to the wealth creation experience.
Any worthy endeavor is worthy of the time to learn to do it well. It may involve reading (or listening on Audible for free!) a couple of great books on the subject (recommendations below). It may also mean hiring an investment coach to teach you how the markets work, what to avoid, and what really works.
And hey, continuing to listen to us here at Catching The Coin will be time well invested in the pursuit of investing knowledge. But hey… we may be a little partial ;-).
It's during times of volatility that wealth transfers from the emotional and fearful investors to the disciplined and strong willed investors. This is demonstrated time after time when we take a look at the historical charts. Check out Episode 006 for a closer look at these emotions that can destroy your wealth.
Understand that successful investing is a long term experience that affords the opportunity to consistently capture market rates of return.
Remember that incredible growth of wealth is attainable through a long term commitment to a globally diversified portfolio of equities and fixed income.
In This Episode We Look At:
- Investing a modest amount of time to LEARN about investing.
- Periods of time during the investing experience may TEST your intestinal fortitude.
- The importance of having the LONG-TERM view of investing.
Today's Resources and Links:
- A Random Walk Down Wall St by Burton Malkiel
- Winning The Loser's Game by Charles Ellis
- Check out Audible for a convenient and cost effective means to listen to such books while you drive to work and by following this link you can grab your first audiobook on us for free!
One Thing You Can Do Today to Improve Your Financial World:
- Fight the temptation to change your mix of investments simply because the markets move down and the media touts doom and gloom. #HoldFast
What Are Your Thoughts?
If you have a question or comment about today's topic, we invite you to share your thoughts in the Comments section below.
You can also find us on Facebook or Twitter.
Welcome to Part 2 in our series, "Where Does Wealth Come From?"
Today we will look at the stock markets (equities). The equities markets is one of the greatest wealth creation tools known to man.
But… the market isn't only the S&P 500.
While we hear the most about the S&P500, it is one of many academically identified Investment categories. If your portfolio consists of mainly the S&P500 and it tanks like it did in 2008-2009, then your whole portfolio is likely to tank as well.
An asset category like the S&P 500 has a long term average of 9% and U.S. Small Value has a long term average return of over 12%. It is possible, through proper diversification and discipline, to experience an average annual return somewhere between those rates. (Gross returns, before investing related fees)
Owning asset categories with dissimilar price movements (one goes moves down in value while the other is likely to go up), brings a balance to your portfolio and helps you optimize growth.
In This Episode We Look At:
-
Growth comes from the market itself. (It DOESN'T come from gurus, timing, or trying to beat the market.)
-
It is possible to get market rates of returns.
-
What is DIVERSIFICATION and why is it so important?
Today's Resources and Links:
The Value of being truly diversified.
One Thing You Can Do Today to Improve Your Financial World:
- Be sure that you have a TRULY balanced portfolio.
- Own a cross-section of market categories for diversification and add a portion of fixed income (if needed) for a "cushion" against the full force of the equities markets.
What Are Your Thoughts?
If you have a question or comment about today's topic, we invite you to share your thoughts in the Comments section below.
You can also find us on Facebook or Twitter.
We are surrounded by wealth! An expanded understanding of how wealth is created just might assist us in increasing our own wealth.
Welcome to Part One of a three part series, "Where Does Wealth Come From?"
Free Markets exist when there is: Rule of Law, property rights, and patent protection. Isn't it awesome that we have the freedom to go out and buy the newest MacBook or a flat screen TV whenever we want?
Capitalism is designed to be win-win. One party is willing to part with their money in exchange for a desired product or service. This is win-win, not win-lose.
For the most part, prices are determined by supply and demand. The greater the demand, the greater the seller can increase price. When there exists an abundance of a product, it becomes easily accessible and prices can move down.
You may have noticed that companies are not done creating cool stuff. On the contrary, there are so many exciting breakthroughs and innovations in technology that it's enough to blow your mind. Innovation leads to sales (hopefully!) and sales translate (generally) to profits!
E-Bay is a great economic experiment. Why would someone pay $90 for a can of baked beans? Or $1,200 for a wedding dress modeled by an ex-husband? If enough people want the same thing, then that will drive up the price.
In This Episode We'll Look At:
- Free Markets and our LOVE for shopping.
- The beauty of Innovation.
- What DEFINES value?
- The magic that happens between willing parties.
Today's Resources and Links:
- Fiverr
One Thing You Can Do Today to Improve Your Financial World:
Take a few minutes to watch this video and commit to develop a healthy perspective on wealth.
What Are Your Thoughts?
If you have a question or comment about today's topic, we invite you to share your thoughts.
You can also find us on Facebook or Twitter.
These are exciting times here at Catching the Coin! Today we share our first guest interview, Alex Branning of Branning Group.
Alex is transparent as he leads us through his journey of growing multiple small businesses, accumulating debt, and his climb back up to building wealth.
In This Episode We'll Look At:
- Alex's journey from debt-free, to sizable debt, and then on the building wealth.
- Alex's tips that helped him accomplish his financial goals.
- Ask for help from a PROFESSIONAL.
- ALLOW yourself to be coached.
- Change your view of money to viewing it as a TOOL.
-
FOLLOW the plan!
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How giving actually helped Alex to climb out of debt.
Today's Resources and Links:
- Branning Group
- Branning Group on Facebook
- Branning Group on Twitter
Alex's Recommended Reading:
- Total Money Makeover
- Against the Grain
- The Giver
- E-Myth Revisited
- Getting Things Done
One Thing You Can Do Today to Improve Your Financial World:
Fast-forward to your desired retirement age.
What amount of income do you need? Spent some real time thinking about it. If a conservative withdrawal amount is 4% a year from your investments, how much do you need to accumulate?
For Example: 4% of $1,000,000 is $40,000. Many of us are going to want/need more than $40,000/year.
Begin planning today for THAT amount.
What Are Your Thoughts?
If you have a question or comment about today's topic, we invite you to share your thoughts in the Comments section below.
You can also find us on Facebook or Twitter.
Wealth isn't always openly displayed.
You'd likely be surprised to learn who the millionaires around you are.
In This Episode We'll Look At:
- Why you should ignore the get-rich-quick appeal
- Workers earning $50,000- $70,000 that have been able to accumulate well over $1,000,000 during their careers!
- If you earn $150,000 and invested 10% of your gross income, you have the potential to accumulate approximately $1.4 million over 25 years. Think, "25 years from now, I could be a millionaire!"
- How working just 5 more years and continuing to invest 10% creates the potential for up to $2.2 million.
Today's Resources and Links:
Mr Earl, the parking attendant
One Thing You Can Do Today to Improve Your Financial World:
Purpose to live within your means and pay your future self. Do this by investing 10% of your gross income and give yourself the potential to accumulate over $1,000,000 for your retirement.
What Are Your Thoughts?
If you have a question or comment about today's topic, we invite you to share your thoughts in the Comments section below.
You can also find us on Facebook or Twitter.
While it's easy to blame the markets for investment losses, the reality is that it is often investor behavior that brings devastation and loss to our investments.
In This Episode We'll Look At:
- The DANGER of tapping into your retirement accounts
- Building a reasonable plan to assure sufficient income for your future
- How to recognize and AVOID chasing a hot sector
- How seeking safety is not always a wise play
- Recognizing the folly of selling in down markets
Today's Resources and Links:
-
115 years of the popular US markets
-
See show notes page for picture.
One Thing You Can Do Today to Improve Your Financial World:
Write out your personal, long-term investing plan. Be sure to do this during a time when you are able to be objective with yourself and your finances.
Refer back to your plan every time you are tempted to make one of the above mistakes.
A sample looks like:
"I will maintain 70% of my portfolio in broadly diversified equities, 30% in Fixed Income. I will buy more in down markets and sell a portion in up markets in order to maintain my 70/30 mix."
What Are Your Thoughts?
If you have a question or comment about today's topic, we invite you to share your thoughts in the Comments section below.
You can also find us on Facebook or Twitter.
In our quest to Carpe Diem, Seize the Day; we often forget to Carpe Cras, Seize Tomorrow.
However, the costs and expenses of tomorrow can certainly catch us off guard and the startling truth is that a large percentage of Americans are ONE emergency away from being BROKE!
In This Episode We'll Look At:
- Great reasons to save today for expected future expenses
- A great idea on how you can add several hundred dollars to your Stuff Happens savings account without touching your paycheck
- Walking you through the next steps in building a healthy Stuff Happens savings account
Today's Resources and Links:
- Articles
- Nearly Half the U.S. Can't Afford Unexpected $400 Bill
- 26% of Americans Have ZERO Emergency Savings
One Thing You Can Do Today to Improve Your Financial World:
Open a separate, online savings account and nickname it Stuff Happens.
Bonus Round:
Sell one semi-valuable possession that you know you can repurchase in a year or two (probably even a better model) and add that money to your new savings account.
What Are Your Thoughts?
If you have a question or comment about today's topic, we invite you to share your thoughts in the Comments section below.
You can also find us on at www.catchingthecoin.com, Facebook, or Twitter.
We love that "New Car" smell just as much as the next guy. However, compared to having that car payment, what we love even more is the incredible wealth-building power of investing monthly.
We need a car (arguable depending on where you live), but we need wealth for our future as well.
Today, we teach you the tale of............
The $500,000 Used Car!
In This Episode We Will Look At:
- Smart ways to buy newer model cars
- The benefits to paying off your car loan sooner, and begin paying yourself instead
- The incredible wealth-building power of investing your car payment over the course of your working years.
Today's Resources and Links:
CarGurus.com
Edmunds.com
TrueCar.com
One Thing You can Do Today to Improve Your Financial Picture:
Begin investing the dollar amount of your car payment the very month after your loan is paid off and keep that car until just before it dies!
Bonus Round: Begin saving for the down payment of your future car (half-down would be great!)
What Are Your Thoughts?
If you have a question or comment about today's topic, we invite you to share your thoughts in the Comments section below.
You can also find us on Facebook or Twitter.
Emotions are wonderful and needed in marriages in relationships, but in regards to our investments they can be disastrous!
The primary emotions that plague investors are pleasure and pain These can also be thought of as greed and fear.
Either can lead to making decisions or changes that devastate your wealth.
In This Episode We'll Look At:
- Indicators that trigger harmful emotions
- The necessity of a written plan to keep you on track
- How to avoid maneuvers that cause unnecessary losses
Today's Resources and Links:
- Nothing today
One Thing You Can Do Today to Improve Your Financial World:
When you are thinking calmly and reasonably, take the time to write out your long-term investment plan (strategy). Revisit and review your written plan every time you begin to feel fearful or overly confident.
What Are Your Thoughts?
If you have a question or comment about today's topic, we invite you to share your thoughts in the Comments section below.
You can also find us on Facebook or Twitter.
By planning vacations ahead of time, you can save money and have less stress.
There's no doubt that summer is one of the most popular seasons for family vacations.
In today's episode, we will cover some vacation tips and hacks to help you catch and keep more of your hard earned coin.
In This Episode We'll Look At:
- Starting with a plan
- Budgeting monthly for your vacation
- Awesome Packing tips
- Travel- Relax… Take a breath and make some awesome memories!
- Choosing vacations times toward the end of the season, and even off-season, can save you tons of money. In some cases, early June and late August can mean lower prices.
- Examples of sites to try: Hotels.com, Hotwire, Travelocity, Air B&B, Yelp
Today's Resources and Links:
- Flights
- Google Flights
-
Kayak
-
Hotels
- Yelp
- TripAdvisor
- Hotels.com
- Hotwire
- Travelocity
-
AirB&B
-
Membership Only Sites
- AAA
- BJ's Wholesale
- Sam's
- Costco
-
USAA
-
Uber
- iTunes Suitcase app
- Video showing how to pack for 30 days in a duffle bag.
One Thing You Can Do Today to Improve Your Financial World:
Add "Vacation" as category in your monthly budget. Saving a set dollar amount per month is more financially beneficial than getting in debt or withdrawing from a retirement account to cover vacation costs.
What Are Your Thoughts?
If you have a question or comment about today's topic, we invite you to share your thoughts in the Comments section below.
You can also find us on Facebook or Twitter.
Enjoying a healthy income today is both awesome and truly a blessing.
One key factor to accumulating wealth is protecting today's income. Doing so insures that you can enjoy an income in the future.
Additionally, it is absolutely necessary that we part with a portion of today's income to invest in our future financial well-being.
Click HERE for the rest of the show notes.
There's no doubt that life gets busy!
As we tend to live for today, it's easy to let time slip away and not plan properly for our financial future.
We want to help by showing you some simple, but often overlooked steps that you can take to both live for today and prepare for tomorrow .
In This Episode You'll Learn:
- How you can still enjoy today while planning for the future.
- Aesop's classic fable, The Ant and the Grasshopper, is an outstanding, longstanding example of the importance of this principle.
- To permit yourself a certain amount (monthly or annually) to spend on the things that spin your dials.
Today's Takeaways
3 Accounts/Buckets of Money
- Stuff Happens: This is a savings account that you want to feed every month. It has to be automatic (out of sight, out of mind) and the goal should be about $5,ooo for homeowners.
- Projects: This is another savings account with a nickname. It is used to accumulate for a future purchase (ie. replace computer, car, kid's education/wedding, etc.).
- Rest of Your Life: This is for the timeframe when you are longer working. It should be made mostly of investments in the market. It represents a source from which to draw a future income.
Today's Resources and Links
- Tim's cash flow worksheet LINK
- USA Today study on Baby Boomers: LINK
What Are Your Thoughts?
- Are you the "Ant" or the "Grasshopper"?
- What projects are you "bucketing" money for right now?
If you have a question or comment about today's topic, we invite you to share your thoughts in the Comments section below.
Should you bother having anything other than a 401(k) or IRA?
Today we introduce you to the Roth IRA. The ROTH IRA is one of the most under-utilized retirement plans available to wage earners today.
We'll go against "conventional wisdom" and introduce you to an outstanding tax saving tool.
In This Episode You'll Learn:
- How to identify the pitfalls of conventional retirement planning.
- The difference between tax deferral and real tax savings.
- The qualifications to contribute to a Roth IRA.
- The financial benefits of faithfully maximizing this strategy.
Resources
IRS Rules for ROTH IRA
Against The Grain, Avoiding the Financial Pitfalls of Conventional Wisdom by Tim Rosen [Amazon Affiliate link]
What Are Your Thoughts?
Are you currently using a ROTH IRA?
If you have a question or comment about today's topic, we invite you to share your thoughts in the Comments section below.
What's a few dollars here and there? Does it really make a difference what you're paying for cell service or Internet access?
In today's show, we discuss the little things that you can do differently that will result in huge long term financial changes for your future.
Many believe that building accumulating wealth requires large sums of money, perhaps waiting for an inheritance, or to sell your home for a profit.
You'll be surprised to learn the awesome accumulative power of "Little Things" in our lives .
In This Episode You'll Learn:
-
The Power of Little things in our finances
-
We walk you through the process of adding just a "little" extra to your credit card payment and how that can pay the balance off up to a decade sooner than the minimum payment.
- We share the huge benefits of investing the little amount of $100 a month and how that $100 can potentially make a 20 year old a Millionaire by 65.
Today's Takeaways:
- A "Little" amount of money, focused in the right direction can have a huge impact on your wealth.
- It's not difficult to discover dollars that are slipping through your figures. Those dollars can be recaptured for building your wealth.
- There are most likely utilities and other services that you are paying too much for. Those can possibly be reduced through a simple phone call.
Today's Resources and Links
http://www.moneychimp.com/calculator/retirement_calculator.htm
What Are Your Thoughts?
If you have a question or comment about today's topic, we invite you to share your thoughts in the Comments section below.
This is our pre-episode to explain who we are and what the content of the podcast will contain.
Although it's listed on our webpage, allow me to share the Mission Statement of Catching the Coin with you right here:
As Catching the Coin, we are committed to providing free, quality, personal finance information on a consistent basis through means of written and spoken means.
As you can see from our mission statement, our focus is on serving you!
Our goal is to use the podcast as the primary method to accomplish this goal. Here are just some of the content we plan to share:
- Money "Hacks"
- Get out of debt
- Free up tangled money
- Money History (for perspective)
- Interviews with experts