The Financial Classroom Podcast

Episode 63!

This week we spoke to Eric Preston from Regina, SK about his own personal journey in finance and how having a financial community group to talk with has helped him with his own finance. In this episode Eric talked to us about the importance of surrounding himself with people who also enjoy finance and the lesson he has learned from having such a community. Eric shared his own journey and how he started to learn about finances early on from his grandpa and shared a few lessons that was taught to him. He talked about how the book “The Wealthy Barber” gave him a new perspective on how he handled his finance and various ways he learned to manage personal finance. Eric opened up about the mistakes he’s made early on during his college years and how those mistakes helped shape who he is today. Check out the episode and learn why we do monthly spreadsheet parties today and how it has benefitted Eric!

If you are a 6 Figure Millennial or wanting to come on as a guest feel free to reach out to us at [email protected] or find us on Instagram or Facebook.

Death is not an easy subject to talk about, but it is also something that ABSOLUTLEY SHOULD be talked about – from an estate planning perspective, at least. In this episode, Will and Tim talk about this topic with Mark Stefan, a successful wealth planner who has been in the industry for 38 years. Mark breaks down this uncomfortable subject, explaining everything from how an estate plan should be part of a larger financial plan to the various components of an estate plan.
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Throughout our discussion, Mark navigated several complex questions, with simple, easy-to-understand explanations that will (hopefully) leave you feeling motivated and empowered to begin working on your own estate plan. Some of these questions include:
• Who should have a will?
• What is a power of attorney and an executor?
• Are DIY wills worth the savings?
• What taxes apply to your estate?
• What is probate?
• Is it worth it to try to minimize probate?
• What mistakes are people making with their estate planning?
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If you’re a 6-figure millennial or if you have a specific topic you would like to discuss on the podcast, we would love to talk to you! Reach out to us at [email protected] or find us on FB/Instagram.

2022 has been a rough year in the market and two days ago the Nasdaq 100 dropped more than 5% just in 1 single day! Its biggest since 2020, although it can be scary to see your portfolio drop so much in a single day, it is wise to continue investing during this bear market. In 2008 during the financial crisis, if someone had invested during the crash and continued investing they will be very wealthy today, the same goes for the 2000 dot com bubble crash, the 2020 Covid crash, and every other crash. The stock market has recovered every single time, and if you believe that the human race as a whole will continue to innovate and grow then those companies overtime will continue to expand as well. Don’t focus on the short term when it comes to investing, zoom on the charts and you will see that overtime the markets will recover and go up higher.



Remember the key to wealth is always: Live on less than you make, invest everything remaining and do so for a long long time.



Have you continued to invest during the 2022 market crash?

In today's 6-Figure Millennial episode, we talk with Darcy from "We Want Guac" blog. Darcy's journey has brought her from the humble beginnings of living in a shared attic apartment with no heat or AC after graduation. Fast forward, and she has managed to amass a $270k net worth at 28 years old. Listen as Darcy talks about several aspects of this journey, such as:

- Her mindset on living in the attic, and how she navigated this living situation
- How Darcy began investing and what resources she used to learn how to invest
- Darcy's mindset when the March 2020 market crash hit
- How building a nest egg can give you leverage in your work situation
- How much money you need to invest before 30 years old to (theoretically) be able to retire

Darcy also spoke about her blog and how she is using it as a tool to reach Gen Z to develop their careers, build their income, and gain investing knowledge early on in life. Spoiler alert! One of these tools may or may not include writing a rap song that is....shall we say "FIRE"? And we may or may not have featured a clip of this song in the episode.

If you’re a 6-figure millennial, we would love to talk to you! Reach out to us at [email protected] or find us on FB/Instagram. Please also reach out to Darcy through any of the following socials:

Blog: https://www.wewantguac.com/start-here/
IG:
Twitter:
"We Want Guac" Song: https://www.wewantguac.com/music/

EPISODE! FIFTY! We HAD to do something special for our 50th episode, and it just so happened that Tim hit 6-figure net worth at the same time as we were scheduled to release our 50th episode. Take a listen as Tim shares his story of growing up with frugal parents, overcoming student loans and how budgeting catapulted him from a negative net worth to a 6-figure millennial in a matter of a few years.

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Other topics that were discussed include:

-How tracking your spending can change your trajectory

-Saving and investing on an everyday person’s salary

-Tim’s most recent purchase

-How a recent episode impacted said purchase

-Tim’s financial goals

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Also, if. you haven’t already checked it out, go and give Jules’ 6-figure millennial interview a listen. It was released on October 12, 2020.