Stuff About Money They Didn't Teach You In School Podcast Por Erik Garcia CFP® & Xavier Angel CFP® arte de portada

Stuff About Money They Didn't Teach You In School

Stuff About Money They Didn't Teach You In School

De: Erik Garcia CFP® & Xavier Angel CFP®
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 They might not have taught you the stuff about money you needed to know to build wealth, but Xavier and Erik are ready to take you back to school. When it comes to money, it is never too late to start learning.2021 Economía Finanzas Personales
Episodios
  • Episode 89: Prepare for Future Spending by Practicing the Payment

    Episode 89: Prepare for Future Spending by Practicing the Payment
    May 20 2025
    In this episode of the Stuff About Money They Didn't Teach You in School podcast, host ⁠Erik Garcia⁠, CFP®, ChFC®, BFA™, shares a practical financial strategy he personally uses—what he calls practicing your future payment. Whether you’re planning to buy a home, send a child to college, or take on any significant financial commitment, Erik walks through how simulating that future expense now can reduce stress, build confidence, and help you make smarter money decisions. Plus, he dives into the psychology behind this tactic, including why naming a savings account after your future goal can be surprisingly powerful. Erik outlines three reasons to practice your future payment and three key benefits that come from doing it, including building a custom emergency fund and creating margin before you need it. Backed by behavioral research and real-world application, this episode offers a clear, actionable approach to preparing for life’s financial milestones. If this helps you, share it with someone else who’s facing a big financial decision, and don’t forget to follow the show for more thoughtful money strategies. Episode Highlights: Erik explains the idea of planning for predictable future expenses by simulating those costs in advance. (01:00) Erik outlines three reasons to practice future payments: stress testing your budget, building confidence, and evaluating the decision’s wisdom. (01:43) Erik shares the mechanics of how to implement the strategy using a named savings account and automatic transfers. (04:00) Erik provides examples of future costs like buying a house, a car, or college tuition, and explains how to simulate those payments. (04:48) Erik highlights the benefits: building a savings buffer, easing financial transitions, and creating financial margin. (06:27) Erik references research on “episodic future thinking” and its impact on behavior and reduced money-related stress. (09:00) Key Quotes: “I'm speaking as a fellow sojourner with you, someone who is actively trying to manage their finances better.” - Erik Garcia, CFP®, BFA “You're building in some space financially that if things go wrong, you've got money set aside in savings.” - Erik Garcia, CFP®, BFA Resources Mentioned: ⁠Erik Garcia, CFP®, BFA⁠ ⁠Xavier Angel, CFP®, ChFC, CLTC⁠ ⁠Plan Wisely Wealth Advisors⁠
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    14 m
  • Episode 88: Parent PLUS vs. Private College Loans with John Hupalo

    Episode 88: Parent PLUS vs. Private College Loans with John Hupalo
    May 6 2025
    In this episode of the Stuff About Money podcast, Erik Garcia, CFP®, welcomes back longtime guest and college funding expert John Hupalo from MyCollegeCorner.com. As Erik navigates the emotional rollercoaster of planning for his own child’s college costs, he brings listeners along for a candid conversation about the realities of paying for school when savings and cash flow aren’t enough. From the tension between dreams and debt to that Rodrigue Blue Dog artwork hanging behind John in New York, this episode blends practical advice with real-world emotion. Erik and John dive deep into the differences between federal Parent PLUS loans and private student loans—unpacking the risks, benefits, repayment structures, and emotional consequences of each. They also share smart strategies for comparing options, planning payments, and managing expectations. Whether you’re a parent feeling overwhelmed or a financial professional advising clients, this conversation is packed with insight. If you enjoy the episode, follow the show and share it with someone navigating the same road. Episode Highlights: Erik opens up about the emotional and financial challenges of navigating college costs as both a financial advisor and a parent. (01:19) John explains the three ways families can pay for college: saving, cash-flowing, or borrowing—emphasizing this discussion focuses on borrowing options beyond federal student loans. (02:28) Erik and John discuss the potential dangers of Parent PLUS loans and explain why parents must understand the loan structure and long-term implications before committing. (09:30) John shares how private loans differ from Parent PLUS loans, including credit-based underwriting, variable rates, and the absence of origination fees. (17:01) Erik encourages “practicing the payment” as a proactive strategy—making mock loan payments in advance to test affordability before borrowing. (36:29) John suggests reducing market risk by shifting 529 funds to conservative options in advance of college payments. (38:01) They stress the value of planning for contingencies, including hidden risks like a student withdrawing mid-semester, and mention TuitionGuard as a resource to explore. (39:44) Key Quotes: “You just got to really be careful how far you're willing to reach for your, your students' dreams.” - John Hupalo “This is the time to be realistic and throughout the optimism, throughout the pessimism, and get the family together and talk about what can actually happen.” - John Hupalo Resources Mentioned: John Hupalo Invite Education MyCollegeCorner.com Erik Garcia, CFP®, BFA Xavier Angel, CFP®, ChFC, CLTC Plan Wisely Wealth Advisors
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    45 m
  • Episode 87: Dollar Cost Averaging: Your 401(k)’s Superpower

    Episode 87: Dollar Cost Averaging: Your 401(k)’s Superpower
    Apr 22 2025
    In this episode of the Stuff About Money They Didn’t Teach You in School podcast, certified financial planner Erik Garcia speaks directly to those regularly investing in a 401(k), 403(b), or IRA. With the market constantly shifting, it can be tempting to pause contributions and wait for “better” times. But that move might cost you more than you think. Erik explains why dollar cost averaging—investing consistently regardless of market conditions—is actually your retirement plan’s greatest superpower. You’ll hear about three powerful benefits of dollar cost averaging, along with two real challenges that make it tough to stick with. This episode is all about helping you stay confident and committed to your long-term plan—even when the headlines say otherwise. If you're wondering whether to keep investing through market noise, this one’s for you. Episode Highlights: Erik explains the concept of dollar cost averaging and why it's a hidden 401(k) superpower. (01:01) Erik outlines how volatility can be an opportunity for 401(k) investors through consistent investing. (03:21) Erik shares how dollar cost averaging helps remove emotional decision-making from investing. (04:28) Erik emphasizes the role of automated discipline in building long-term wealth. Erik cautions that dollar cost averaging doesn't remove investment risk and long-term perspective is key. (06:23) Erik warns about the emotional challenge of staying invested during market drops. (07:57) Erik encourages investors to keep contributing, and possibly increase contributions, during down markets. (09:00) Key Quotes: “ The third benefit of dollar cost averaging is you are building a very important habit that's gonna help you build wealth, and that is discipline.” - Erik Garcia, CFP®, BFA “ investing in a down market is actually a very good long-term investment strategy, so stay invested. Keep investing. Use your superpower, your dollar cost averaging superpower to build your wealth in your 401k.” - Erik Garcia, CFP®, BFA Resources Mentioned: Erik Garcia, CFP®, BFA Xavier Angel, CFP®, ChFC, CLTC Plan Wisely Wealth Advisors
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    11 m
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