In no particular order, here’s a few interesting things I heard and read recently that I wanted to share.
Roth vs. Traditional 401(k): Study Finds a Clear Winner (Demetria Gallegos, Wall Street Journal)
I am a big fan of the ROTH and help people find ways to be able to add money to it. Whether it’s an option in a company retirement plan or somehow converting money to it on their own, I usually support Roth IRA contributions when possible. This is one of many studies that I read that support my mindset – a quick read that supports ROTH 401k contributions if available.
Never Split the Difference: Negotiating as if Your Life Depended on It (Chris Voss, author)
I have listened to several hundred podcasts over the past couple years. Yes, several hundred – I am addicted. It now replaces my music when I go to the gym, or when I am in the car. On a recent podcast I listened to this guy Chris Voss, a former FBI negotiator, and found him fascinating. The link above is one of the podcasts he appeared on (feel free to forward to the 4:45 mark for the interview). I immediately went and downloaded the book – free audiobook download from my local library – and I couldn’t stop listening to it. So much to learn and use in everyday business. I took notes and plan on listening to it again. I absolutely loved some of the techniques, and hopefully you will too (just don’t try to use them on me!). Check out his book!
We have six kids: Here’s how we put them all through college (reported by Tamara Holmes, USA Today)
Clients often ask about putting kids/grandkids through college, and it’s interesting to see how the thought process for each client is different on the matter. I have seen it done dozens of different ways, but I am always curious to hear how families “pull it off”. This article from a real family in Michigan – with six kids – talks about how they made it work. Most of the people I consult about college savings have less than six kids and make more income than this family, so I can now share some of the ideas that couple in a more challenging situation did!