The Financial Philosophers

Chris & Danny

Welcome to our Channel! Join us as we seek the answers to intriguing and unique questions about different financial ideas. We strive to put thoughtfulness and intention behind every dollar we use and search for that perfect balance between planning for your future self and living in the moment. We're Chris and Danny, two long-time college friends (and nerds) with a passion for personal finance. Chris is a CFP® professional, and Danny is just beginning his certification journey, having just become a Qualified Professional Financial Paraplanner®. We hope you enjoy the podcast, welcome your feedback, and can't wait to Philosophize these Finances!

For the video version of this podcast, check out our YouTube channel:

https://www.youtube.com/@financialphilosophers

To contact us for Interviews or Business Inquiries, please refer to the About page of our Youtube channel.

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Exploring the Diversification Puzzle: How Important is Diversification? - Episode 46

Exploring the Diversification Puzzle: How Important is Diversification? - Episode 46

Send us a Text Message.Everyone has heard the term "diversification" before. Most people have also been told it is important to be "diversified" in their portfolio. However, most people do not fully understand what diversification means. In today's episode, Chris and Danny have a candid conversation about the diversification puzzle and why it is so challenging. They discuss the nuances of diversification, as well as why some people may be for or against it. While today's episode won't solve the diversification puzzle, it will certainly leave you with some thought-provoking things to consider. Don't miss this one! If you would prefer the video version of this podcast, join us on our YouTube channel over at https://www.youtube.com/@financialphilosophers To contact us for Interviews or Business Inquiries, please refer to the About page of our Youtube channel. --------------------------------------------------------------------This podcast is for informational purposes only and should not be considered or regarded as personalized investment or financial advice. All opinions expressed by Chris, Danny, and any guests are solely their own opinion. Any mention of a particular security and related performance data is not a recommendation to buy or sell that security. The information provided from this program (including any information that may be accessed through this website) is not directed at any individual, investor, or category of individuals or investors and is provided solely as general information. Obviously nothing on this channel should be considered as personalized financial advice or a solicitation to buy or sell any securities.

Episodes

Exploring the Diversification Puzzle: How Important is Diversification? - Episode 46

Exploring the Diversification Puzzle: How Important is Diversification? - Episode 46

Send us a Text Message.Everyone has heard the term "diversification" before. Most people have also been told it is important to be "diversified" in their portfolio. However, most people do not fully understand what diversification means. In today's episode, Chris and Danny have a candid conversation about the diversification puzzle and why it is so challenging. They discuss the nuances of diversification, as well as why some people may be for or against it. While today's episode won't solve the diversification puzzle, it will certainly leave you with some thought-provoking things to consider. Don't miss this one! If you would prefer the video version of this podcast, join us on our YouTube channel over at https://www.youtube.com/@financialphilosophers To contact us for Interviews or Business Inquiries, please refer to the About page of our Youtube channel. --------------------------------------------------------------------This podcast is for informational purposes only and should not be considered or regarded as personalized investment or financial advice. All opinions expressed by Chris, Danny, and any guests are solely their own opinion. Any mention of a particular security and related performance data is not a recommendation to buy or sell that security. The information provided from this program (including any information that may be accessed through this website) is not directed at any individual, investor, or category of individuals or investors and is provided solely as general information. Obviously nothing on this channel should be considered as personalized financial advice or a solicitation to buy or sell any securities.

The Benefits of Qualified Dividends - Episode 45

The Benefits of Qualified Dividends - Episode 45

Send us a Text Message.Many people are interested in learning more about how dividends might complement their portfolio. However, did you know there is a difference between ordinary dividends and qualified dividends? In today's episode, Chris and Danny have a nerdy deep dive conversation about qualified dividends. How are qualified dividends taxed, and what advantages do they offer? How might dividends fit in one's overall diversified portfolio? What are some of the pros and cons to be aware of? Who might they be a good fit for? Tune in to this episode to learn more! If you would prefer the video version of this podcast, join us on our YouTube channel over at https://www.youtube.com/@financialphilosophers To contact us for Interviews or Business Inquiries, please refer to the About page of our Youtube channel. --------------------------------------------------------------------This podcast is for informational purposes only and should not be considered or regarded as personalized investment or financial advice. All opinions expressed by Chris, Danny, and any guests are solely their own opinion. Any mention of a particular security and related performance data is not a recommendation to buy or sell that security. The information provided from this program (including any information that may be accessed through this website) is not directed at any individual, investor, or category of individuals or investors and is provided solely as general information. Obviously nothing on this channel should be considered as personalized financial advice or a solicitation to buy or sell any securities.

An Interesting And Motivating Thought Experiment On Paying Off Debt - Episode 44

An Interesting And Motivating Thought Experiment On Paying Off Debt - Episode 44

Send us a Text Message.In today's episode Chris and Danny discuss a motivating thought experiment about paying off debt. Many people are motivated by the idea of saving up enough money to provide passive income to support their living needs. A similar motivating idea can be explored with paying off debt. The less debt one has, the less income they actually need to support their needs. Putting this concept into numbers can be a powerful tool that may further inspire you to take steps towards financial freedom. Be sure to check this episode out! If you would prefer the video version of this podcast, join us on our YouTube channel over at https://www.youtube.com/@financialphilosophers To contact us for Interviews or Business Inquiries, please refer to the About page of our Youtube channel. --------------------------------------------------------------------This podcast is for informational purposes only and should not be considered or regarded as personalized investment or financial advice. All opinions expressed by Chris, Danny, and any guests are solely their own opinion. Any mention of a particular security and related performance data is not a recommendation to buy or sell that security. The information provided from this program (including any information that may be accessed through this website) is not directed at any individual, investor, or category of individuals or investors and is provided solely as general information. Obviously nothing on this channel should be considered as personalized financial advice or a solicitation to buy or sell any securities.

You Might Not Understand Investment Returns - Part 2 - Episode 43

You Might Not Understand Investment Returns - Part 2 - Episode 43

Send us a Text Message.In today's episode, Chris and Danny continue their conversation about investment returns. Topics covered include simple interest vs. compound interest, how not all interest compounds the same, APR vs. APY, and common misconceptions people have regarding fixed returns found in cash-like instruments (e.g., savings accounts, CDs, money market funds, etc.) and fixed income assets (e.g., individual bonds, bond funds, etc.). This episode is a good way to further round out your understanding of some fundamental concepts about investment returns. If you would prefer the video version of this podcast, join us on our YouTube channel over at https://www.youtube.com/@financialphilosophers To contact us for Interviews or Business Inquiries, please refer to the About page of our Youtube channel. --------------------------------------------------------------------This podcast is for informational purposes only and should not be considered or regarded as personalized investment or financial advice. All opinions expressed by Chris, Danny, and any guests are solely their own opinion. Any mention of a particular security and related performance data is not a recommendation to buy or sell that security. The information provided from this program (including any information that may be accessed through this website) is not directed at any individual, investor, or category of individuals or investors and is provided solely as general information. Obviously nothing on this channel should be considered as personalized financial advice or a solicitation to buy or sell any securities.

You Might Not Understand Investment Returns Part 1 - Episode 42

You Might Not Understand Investment Returns Part 1 - Episode 42

Send us a Text Message.In today's episode, Chris and Danny have a casual conversation about what investment returns actually mean. Many people get hyper fixated on their investment returns, but don't actually understand the full picture. Do you know the difference between time-weighted and dollar-weighted returns? Did you know that using terms like "I made money" or "I lost money" in the context of investing may actually be misleading and harmful? This episode is a good starting point to get you thinking about investment returns with a different attitude. If you would prefer the video version of this podcast, join us on our YouTube channel over at https://www.youtube.com/@financialphilosophers To contact us for Interviews or Business Inquiries, please refer to the About page of our Youtube channel. --------------------------------------------------------------------This podcast is for informational purposes only and should not be considered or regarded as personalized investment or financial advice. All opinions expressed by Chris, Danny, and any guests are solely their own opinion. Any mention of a particular security and related performance data is not a recommendation to buy or sell that security. The information provided from this program (including any information that may be accessed through this website) is not directed at any individual, investor, or category of individuals or investors and is provided solely as general information. Obviously nothing on this channel should be considered as personalized financial advice or a solicitation to buy or sell any securities.

House Hacking & Real Estate Investing - An Interview with Anson Young - Episode 41

House Hacking & Real Estate Investing - An Interview with Anson Young - Episode 41

Send us a Text Message.In today's episode Chris and Danny have a discussion with Anson Young from The Property Squad podcast. Anson is a real estate investor, real estate agent, and author. You can also find Anson's content on BiggerPockets. Our discussion with Anson covers the pros and cons of house hacking and real estate investing. Have you ever wondered about creating additional cash flow through house hacking? Are you curious about the risks and rewards with real estate investing? Tune in to today's episode to learn more! If you would prefer the video version of this podcast, join us on our YouTube channel over at https://www.youtube.com/@financialphilosophers To contact us for Interviews or Business Inquiries, please refer to the About page of our Youtube channel. --------------------------------------------------------------------This podcast is for informational purposes only and should not be considered or regarded as personalized investment or financial advice. All opinions expressed by Chris, Danny, and any guests are solely their own opinion. Any mention of a particular security and related performance data is not a recommendation to buy or sell that security. The information provided from this program (including any information that may be accessed through this website) is not directed at any individual, investor, or category of individuals or investors and is provided solely as general information. Obviously nothing on this channel should be considered as personalized financial advice or a solicitation to buy or sell any securities.

Candid Thoughts About Infinite Banking and Whole Life Insurance - Episode 40

Candid Thoughts About Infinite Banking and Whole Life Insurance - Episode 40

Send us a Text Message.In today's episode, we have a candid conversation about infinite banking through the use of a participating whole life insurance policy. What is infinite banking? Do some people take infinite banking too far? Is infinite banking a scam? Why is there so much controversy surrounding this topic? Chris and Danny have a lengthy conversation about this topic. Whether you love infinite banking or hate it, you are bound to learn something new from this episode. If you would prefer the video version of this podcast, join us on our YouTube channel over at https://www.youtube.com/@financialphilosophers To contact us for Interviews or Business Inquiries, please refer to the About page of our Youtube channel. --------------------------------------------------------------------This podcast is for informational purposes only and should not be considered or regarded as personalized investment or financial advice. All opinions expressed by Chris, Danny, and any guests are solely their own opinion. Any mention of a particular security and related performance data is not a recommendation to buy or sell that security. The information provided from this program (including any information that may be accessed through this website) is not directed at any individual, investor, or category of individuals or investors and is provided solely as general information. Obviously nothing on this channel should be considered as personalized financial advice or a solicitation to buy or sell any securities.

Episode 39 - How to Use Your Roth IRA as an Emergency Fund

Episode 39 - How to Use Your Roth IRA as an Emergency Fund

Send us a Text Message.In today's episode, Chris and Danny discuss using a Roth IRA as a supplement to one's emergency fund. This is an often under appreciated and overlooked strategy, as a Roth IRA offers more flexibility than meets the eye. Be sure to check this episode out! If you would prefer the video version of this podcast, join us on our YouTube channel over at https://www.youtube.com/@financialphilosophers To contact us for Interviews or Business Inquiries, please refer to the About page of our Youtube channel. --------------------------------------------------------------------This podcast is for informational purposes only and should not be considered or regarded as personalized investment or financial advice. All opinions expressed by Chris, Danny, and any guests are solely their own opinion. Any mention of a particular security and related performance data is not a recommendation to buy or sell that security. The information provided from this program (including any information that may be accessed through this website) is not directed at any individual, investor, or category of individuals or investors and is provided solely as general information. Obviously nothing on this channel should be considered as personalized financial advice or a solicitation to buy or sell any securities.

Episode 38 - Interview With A Successful 3rd Party Amazon Seller

Episode 38 - Interview With A Successful 3rd Party Amazon Seller

Send us a Text Message.Join us in today's episode, as we conduct our first interview on the show. Our guest, Eamonn, is a successful entrepreneur who runs a business as a 3rd party Amazon seller. Eamonn has many insights to share about the journey of becoming an entrepreneur, as well as some of the risks and rewards. There is a lot of good wisdom in this episode, and we hope you enjoy! If you would prefer the video version of this podcast, join us on our YouTube channel over at https://www.youtube.com/@financialphilosophers To contact us for Interviews or Business Inquiries, please refer to the About page of our Youtube channel. --------------------------------------------------------------------This podcast is for informational purposes only and should not be considered or regarded as personalized investment or financial advice. All opinions expressed by Chris, Danny, and any guests are solely their own opinion. Any mention of a particular security and related performance data is not a recommendation to buy or sell that security. The information provided from this program (including any information that may be accessed through this website) is not directed at any individual, investor, or category of individuals or investors and is provided solely as general information. Obviously nothing on this channel should be considered as personalized financial advice or a solicitation to buy or sell any securities.

Episode 37 - When, How, and Why You Should Use A Health Savings Account (HSA)

Episode 37 - When, How, and Why You Should Use A Health Savings Account (HSA)

Send us a Text Message.A health savings account (HSA) is a very unique and powerful vehicle to contribute to. However, the case for using an HSA depends on the individual, their situation, and their personal preferences. In today's episode we cover what an HSA is, the contribution limits, the tax savings features, interesting planning strategies, and who an HSA might be good for. Tune in to learn more! If you would prefer the video version of this podcast, join us on our YouTube channel over at https://www.youtube.com/@financialphilosophers To contact us for Interviews or Business Inquiries, please refer to the About page of our Youtube channel. --------------------------------------------------------------------This podcast is for informational purposes only and should not be considered or regarded as personalized investment or financial advice. All opinions expressed by Chris, Danny, and any guests are solely their own opinion. Any mention of a particular security and related performance data is not a recommendation to buy or sell that security. The information provided from this program (including any information that may be accessed through this website) is not directed at any individual, investor, or category of individuals or investors and is provided solely as general information. Obviously nothing on this channel should be considered as personalized financial advice or a solicitation to buy or sell any securities.

Episode 36 - Be Wary of Velocity Banking

Episode 36 - Be Wary of Velocity Banking

Send us a Text Message.There are a lot of financial coaches and finance gurus on YouTube who promote the concept of Velocity Banking. Many of them claim that it is the ultimate strategy for aggressively paying off debt and decreasing interest. Others claim it is nothing more than mental gymnastics, or worse, an outright scam. Like most controversial topics, the truth is often found somewhere in-between. In today's episode, Chris and Danny will cover what Velocity Banking is, as well as the pros and cons you need to be aware of. If you would prefer the video version of this podcast, join us on our YouTube channel over at https://www.youtube.com/@financialphilosophers To contact us for Interviews or Business Inquiries, please refer to the About page of our Youtube channel. --------------------------------------------------------------------This podcast is for informational purposes only and should not be considered or regarded as personalized investment or financial advice. All opinions expressed by Chris, Danny, and any guests are solely their own opinion. Any mention of a particular security and related performance data is not a recommendation to buy or sell that security. The information provided from this program (including any information that may be accessed through this website) is not directed at any individual, investor, or category of individuals or investors and is provided solely as general information. Obviously nothing on this channel should be considered as personalized financial advice or a solicitation to buy or sell any securities.

Episode 35 - Is A Roth Conversion Right For You?

Episode 35 - Is A Roth Conversion Right For You?

Send us a Text Message.To Roth, or not to Roth, that is the question! Most people are aware that they may be able to make Roth IRA and Roth 401(k) contributions, but what about Roth conversions? Do you know the fundamental differences between Roth contributions and conversions? How does one do a Roth conversion, and what might that entail? What are the pros and cons? Who might be a good fit for Roth conversions? What potential pitfalls does one need to be aware of if they are considering this tax planning strategy? Join us in this episode to find out! Social Security Calculator:https://www.ssa.gov/OACT/quickcalc/ If you would prefer the video version of this podcast, join us on our YouTube channel over at https://www.youtube.com/@financialphilosophers To contact us for Interviews or Business Inquiries, please refer to the About page of our Youtube channel. --------------------------------------------------------------------This podcast is for informational purposes only and should not be considered or regarded as personalized investment or financial advice. All opinions expressed by Chris, Danny, and any guests are solely their own opinion. Any mention of a particular security and related performance data is not a recommendation to buy or sell that security. The information provided from this program (including any information that may be accessed through this website) is not directed at any individual, investor, or category of individuals or investors and is provided solely as general information. Obviously nothing on this channel should be considered as personalized financial advice or a solicitation to buy or sell any securities.

Episode 34 - Investing In Lego Sets

Episode 34 - Investing In Lego Sets

Send us a Text Message.You may have heard stories online of people selling Lego sets for huge returns, but is it really all roses and sunshine? Is it all hype? Can you actually make money selling Lego sets? In today's episode, Chris shares some of his insights and experience with selling Lego sets. What is Lego reselling, and how do you do it? What are some of the pros, cons, and risks involved? What does Lego reselling look like in 2024 and beyond? How might Lego reselling affect one's personal finances? Tune in today to find out more about this unique and interesting topic! If you would prefer the video version of this podcast, join us on our YouTube channel over at https://www.youtube.com/@financialphilosophers To contact us for Interviews or Business Inquiries, please refer to the About page of our Youtube channel. --------------------------------------------------------------------This podcast is for informational purposes only and should not be considered or regarded as personalized investment or financial advice. All opinions expressed by Chris, Danny, and any guests are solely their own opinion. Any mention of a particular security and related performance data is not a recommendation to buy or sell that security. The information provided from this program (including any information that may be accessed through this website) is not directed at any individual, investor, or category of individuals or investors and is provided solely as general information. Obviously nothing on this channel should be considered as personalized financial advice or a solicitation to buy or sell any securities.

Episode 33 - Let's Talk About Tax-Loss Harvesting

Episode 33 - Let's Talk About Tax-Loss Harvesting

Send us a Text Message.In today's episode, Chris and Danny discuss the specifics about tax-loss harvesting. Specifically, you will learn more about the rules, pros, cons, and pitfalls related to tax-loss harvesting. Is tax-loss harvesting the right strategy for you, or would tax-gain harvesting be better? What are some things you need to be aware of when harvesting capital losses? How does tax-loss harvesting even work? Join us in this episode to find out! If you would prefer the video version of this podcast, join us on our YouTube channel over at https://www.youtube.com/@financialphilosophers To contact us for Interviews or Business Inquiries, please refer to the About page of our Youtube channel. --------------------------------------------------------------------This podcast is for informational purposes only and should not be considered or regarded as personalized investment or financial advice. All opinions expressed by Chris, Danny, and any guests are solely their own opinion. Any mention of a particular security and related performance data is not a recommendation to buy or sell that security. The information provided from this program (including any information that may be accessed through this website) is not directed at any individual, investor, or category of individuals or investors and is provided solely as general information. Obviously nothing on this channel should be considered as personalized financial advice or a solicitation to buy or sell any securities.

Episode 32 - How to Sell Your Items on Ebay (and other platforms)

Episode 32 - How to Sell Your Items on Ebay (and other platforms)

Send us a Text Message.Do you have a bunch of old belongings you want to sell and declutter? Perhaps you are interested in learning how to sell on eBay (or other platforms) for some extra cash? In this episode, Chris and Danny walk through some best practices for selling your old things. Learn how to get to most out of your sales, how to properly value your items, how to manage sales and buyer inquiries, and other miscellaneous tips. If you would prefer the video version of this podcast, join us on our YouTube channel over at https://www.youtube.com/@financialphilosophers To contact us for Interviews or Business Inquiries, please refer to the About page of our Youtube channel. --------------------------------------------------------------------This podcast is for informational purposes only and should not be considered or regarded as personalized investment or financial advice. All opinions expressed by Chris, Danny, and any guests are solely their own opinion. Any mention of a particular security and related performance data is not a recommendation to buy or sell that security. The information provided from this program (including any information that may be accessed through this website) is not directed at any individual, investor, or category of individuals or investors and is provided solely as general information. Obviously nothing on this channel should be considered as personalized financial advice or a solicitation to buy or sell any securities.

Episode 31 - Some Financial Thoughts To Consider When Having A Child

Episode 31 - Some Financial Thoughts To Consider When Having A Child

Send us a Text Message.Chris, the nerdy financial planner, is going to be a father soon! In today's episode, Danny asks Chris some questions about how his financial views or goals might change in light of having a child. Whether you're thinking of starting a family, already have kids, or simply want to hear what Chris and Danny have to say, then today's episode is for you! If you would prefer the video version of this podcast, join us on our YouTube channel over at https://www.youtube.com/@financialphilosophers To contact us for Interviews or Business Inquiries, please refer to the About page of our Youtube channel. --------------------------------------------------------------------This podcast is for informational purposes only and should not be considered or regarded as personalized investment or financial advice. All opinions expressed by Chris, Danny, and any guests are solely their own opinion. Any mention of a particular security and related performance data is not a recommendation to buy or sell that security. The information provided from this program (including any information that may be accessed through this website) is not directed at any individual, investor, or category of individuals or investors and is provided solely as general information. Obviously nothing on this channel should be considered as personalized financial advice or a solicitation to buy or sell any securities.

Episode 30 - All The Different Ways Financial Advisors Get Paid

Episode 30 - All The Different Ways Financial Advisors Get Paid

Send us a Text Message.Are you aware of how your financial advisor is getting paid? What about your insurance agent? This episode is meant to provide full transparency into how financial professionals are compensated, and what kinds of conflicts of interest may arise. This is a great episode to listen to, especially if you are currently working with (or thinking of working with) a financial professional. If you would prefer the video version of this podcast, join us on our YouTube channel over at https://www.youtube.com/@financialphilosophers To contact us for Interviews or Business Inquiries, please refer to the About page of our Youtube channel. --------------------------------------------------------------------This podcast is for informational purposes only and should not be considered or regarded as personalized investment or financial advice. All opinions expressed by Chris, Danny, and any guests are solely their own opinion. Any mention of a particular security and related performance data is not a recommendation to buy or sell that security. The information provided from this program (including any information that may be accessed through this website) is not directed at any individual, investor, or category of individuals or investors and is provided solely as general information. Obviously nothing on this channel should be considered as personalized financial advice or a solicitation to buy or sell any securities.

Episode 29 - 5 Financial Tasks to Start 2024 Off Strong

Episode 29 - 5 Financial Tasks to Start 2024 Off Strong

Episode description not available.

Episode 28 - How To Handle Layoffs, Losing A Job, or Losing Your Income.

Episode 28 - How To Handle Layoffs, Losing A Job, or Losing Your Income.

Send us a Text Message.Have you ever been laid off? Do you think you might lose a job? Are you thinking of quitting your job? Whether you are actively losing a job, or simply want to prepare for that potential scenario, today's episode will give you the tools to handle that situation. Losing your source of income can be tough, but there are things you can do to greatly improve your situation and outlook. Join us to find out! If you would prefer the video version of this podcast, join us on our YouTube channel over at https://www.youtube.com/@financialphilosophers To contact us for Interviews or Business Inquiries, please refer to the About page of our Youtube channel. --------------------------------------------------------------------This podcast is for informational purposes only and should not be considered or regarded as personalized investment or financial advice. All opinions expressed by Chris, Danny, and any guests are solely their own opinion. Any mention of a particular security and related performance data is not a recommendation to buy or sell that security. The information provided from this program (including any information that may be accessed through this website) is not directed at any individual, investor, or category of individuals or investors and is provided solely as general information. Obviously nothing on this channel should be considered as personalized financial advice or a solicitation to buy or sell any securities.

Another Few Cents #15 - What's the Deal with Collectibles?

Another Few Cents #15 - What's the Deal with Collectibles?

Episode description not available.