The Infamous 401(k) Rollover…The Why and The How

You leave a job and you have money in a 401(k) what should you do with it?

Podcast Details:

Podcast Title:   The Infamous 401(k) Rollover:  The Why and The How
Podcast Series: Financial Literacy Boot Camp
Video and illustrations available on our YouTube channel here.

Powerpoint Slides

Questions/Issues We’ll Address on this Episode:

  • There are two buckets of money…qualified or non-qualified (5:00)
  • What is a 401(k)? (6:00)
  • Is it mine?  (6:35)
  • Can I roll this into my new employer’s plan?  (10:35)
  • Can I still participate in my former employer’s plan?  (11:30)
  • How should I invest my  401(k)?  (12:33)
  • What is an IRA?  (15:35)
  • Why would I want to rollover my 401(k)? (17:00)
  • The steps to a 401(k) Rollover (19:00)

 

#financialliteracy #finlit #finance #financialplanning #financialeducation #advice #financialadvisor #money #finances #taxes #tips #retirement #investing #401k #401kplanning

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About Me:
Dominique Henderson, CFP® is founder of DJH Capital Management, LLC., a fee-only, registered investment advisory firm specializing in comprehensive financial planning and wealth management.

Where to Find Us:

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#FinancialLiteracyBootCamp

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Solutions to the Career Transition Problem: “Starting New Things”

In this podcast, I share the mic once again with Marques Ogden and we chat about his upcoming speaking academy, his newest endeavor, and a lightning round of topics that will be sure to intrigue you.

Podcast Details:

Podcast Title:  Solutions to the Career Transition Problem:  “Starting New Things”
Podcast Series: Financial Literacy Boot Camp

Video and illustrations available on our YouTube channel here.

Questions/Issues We’ll Address on this Episode:

 

-We talk about Marques’ upcoming speaking academy and how attendance has tripled (2:10)
-Marques’ advice on “fearing to fail” (3:48)
-Marques’ newest endeavor….SURPRISE!!!  (7:40)
-Another life lesson “unpacked” (14:40)
-The lightning round:  what is Marques think about….(16:40)

Solutions to the Career Transition Problem Series:  1st Interview, 2nd Interview, 3rd Interview, 4th Interview
Marques’ website
Marques’ FB/LinkedIn/Twitter

#financialliteracy #finlit #careertransition #branding #marketing #entrepreneur #motivationalspeaker #money #finances #cfl #canadianfootballleague

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About Me:
Dominique Henderson, CFP® is founder of DJH Capital Management, LLC., a fee-only, registered investment advisory firm specializing in comprehensive financial planning and wealth management.

Where to Find Us:

Facebook-Icon78-3 twitter-icon youtube google
#FinancialLiteracyBootCamp

Sound bumps provided by www.bensound.com

Are We Winning the Fight for Financial Literacy?

Are we winning the fight for financial literacy–what do you think? What influences our purchasing decisions and is that “force” the loudest of all voices? I’ll tackle this important subject this week.

Podcast Details:

Podcast Title:  Are We Winning the Fight for Financial Literacy?
Podcast Series: Financial Literacy Boot Camp
Video and illustrations available on our YouTube channel here.

Questions/Issues We’ll Address on this Episode:

The Question–“Are We Winning the Fight?” (2:25)

What drives or influences our spending decisions?  (5:30)

The influences that marketing has on us are undeniable.  We are constantly bombarded with the message of CONSUMPTION to, if not drive decision making, definitely influence our decision making.

What is US consumer spending?(8:00)
Domestic consumption of goods and services is near 70% (per the Bureau of Economic Analysis or the BEA).  This is measured by PCE or “personal consumption expenditures”. How much of that do you think is a result of the “Marketing Machine’s” influence?
What are the Facts? (9:40)
So how many people actually learn the basics around cash flow management, budgeting, saving or investing in high school?  or even college?  Here are some sobering statistics…
    • Per the WSJ, the US ranked 14th in a 2015 global study conducted with a grade of just 57%
    • As of May 2016, only 17 states require high school students to take a course in personal finance.
    • Another independent study that about 1/3 of students took a personal finance course in college
Two Articles from WSJ I reference:
Another Independent Study:
Past Problems (12:20)
 I think the most notable problem of the last decade was the US Housing crises where would-be homeowners were SOLD the idea through marketing that homeownership was good (which it is) regardless of your level of income and financial situation.  We needed more educated consumers back in the early 2000s (when was the bill passed?) that could have navigated the relaxed lending standards that allowed them to secure mortgages they couldn’t afford.  (What was the debt-to-equity ratio or the home ratio 1 or 2 back then compared to what it should be?)
Current/Future Problems (15:15)
Have we learned from our mistakes?  I don’t think we have or at least our children haven’t.  The next domino could indeed be something that is ironically enough, “in the name of education”–student loans.  Student loan debt is #2 on the list behind mortgages in the consumer credit market.  Per the St. Louis Fed, the number of student loans outstanding has increased 300% since 2006.
This all points to a problem of lack of education efforts towards financial literacy to keep consumers ignorant as to the consequences of their purchase decisions.
Solutions (19:30)
    • Start with earlier, more relevant education to younger students (my wife as a school teacher);
    • Financial services industry needs to take a more proactive to educate through pro-bono work;
    • Post-secondary lending standards need to be raised to stop the bleeding

#financialliteracy #finance #financialplanning #financialeducation #advice #financialadvisor #debt #studentloans #finlit #money

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About Me:
Dominique Henderson, CFP® is founder of DJH Capital Management, LLC., a fee-only, registered investment advisory firm specializing in comprehensive financial planning and wealth management.

Where to Find Us:

Facebook-Icon78-3 twitter-icon youtube google
#FinancialLiteracyBootCamp

Sound bumps provided by www.bensound.com

The Challenges Facing Financial Advisors in the 21st Century with Special Guest Tywanna Smith

I discuss the challenges facing financial advisors in the 21st century with special guest Tywanna Smith of Athlete’s Nexus

Podcast Details:

Podcast Title:  The Challenges Facing Financial Advisors in the 21st Century with Special Guest Tywanna Smith
Podcast Series: Financial Literacy Boot Camp
Video and illustrations available on our YouTube channel here.

 

Questions/Issues We’ll Address on this Episode:

I discuss the challenges facing financial advisors in the 21st century with special guest Tywanna Smith of Athlete’s Nexus (on Twitter @AthletesNeXus)

  • Who is Tywanna Smith (2:25)
  • Tywanna talks about her idea behind writing  “Surviving the Lights: A Professional Athlete’s Playbook to Avoiding the Curse”.  (4:50)
  • Tywanna and I dive into her book -“…
    • we don’t exploit athletes for revenue; we prepare them for life” (6:40)
    • How many athletes really understand how to leverage their brand to set up “life after the sport” (10:10)
    • For generations, the African-American culture has instilled a “loyalty” complex in its offspring to make decisions based on emotion rather than logic. (12:45)
    • Athletes operate best with good coaching, guidance, and teaching, and they are most receptive when someone connects with a level of understanding… (16:40)
    • As an athlete, how do you build a great team around you (20:04)
    • How athletes can use their current influence (29:30)
  • How to increase the level of financial literacy among athletes (31:25)

#financialliteracy #financialplanning #financialeducation #financialadvice #athletetransition #financialadvisor

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Sign up for more our free newsletter with financial updates like these!

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About Me:
Dominique Henderson, CFP® is founder of DJH Capital Management, LLC., a fee-only, registered investment advisory firm specializing in comprehensive financial planning and wealth management.

Where to Find Us:

Facebook-Icon78-3 twitter-icon youtube google
#FinancialLiteracyBootCamp

Sound bumps provided by www.bensound.com

The Art of Personal Branding with Marques Ogden

Marques and I discuss the “art of personal branding”.

Podcast Details:

Podcast Title:  The Art of Personal Branding with Marques Ogden
Podcast Series: Financial Literacy Boot Camp
Video and illustrations available on our YouTube channel here.

 

Questions/Issues We’ll Address on this Episode:

-Branding
-Social Media
-Marketing

-What to Include in your Digital Content Image (2:15)
-Marques top social media sites for personal branding (5:04)
-Differences in the use of social media across the age groups (7:30)
-Most important aspect of your personal brand (10:50)
-Is Twitter is optional? (13:45)
-Marques’ tricks of the trades for building followers (15:05)
-The obstacles that keep us from developing good personal brands (20:45)
-Preview for segment on personal branding for Marques’ upcoming academy (26:35)

#financialliteracy #personalbranding #marketing #socialmedia #entrepreneurship #smallbusinessowner

Submit a “Boot Camp Listener” question

Sign up for more our free newsletter with financial updates like these!

Subscribe to the podcast!

About Me:
Dominique Henderson, CFP® is founder of DJH Capital Management, LLC., a fee-only, registered investment advisory firm specializing in comprehensive financial planning and wealth management.

Where to Find Us:

Facebook-Icon78-3 twitter-icon youtube google
#FinancialLiteracyBootCamp

Sound bumps provided by www.bensound.com