What's My Age Again? Financial Mistakes We Made at 25

What's My Age Again? Financial Mistakes We Made at 25

We all made money mistakes in our 20s. The question is whether we learned from them. In this episode, Derek and Kelly are joined by guest Maggie Garden to talk about what they wish they knew at 25. From skipping the 401(k) to buying the wrong car to completely ignoring their credit scores, they get real about the financial decisions they'd do differently — and what you can do right now so you don't make the same ones. This one's part therapy session, part financial planning crash course. What's covered: * Why your 20s are actually your most valuable investing years (and what it costs you to wait) * The car mistake almost everyone makes — and why it matters more than you think * Credit scores: what they are, why they matter, and how most people find out the hard way * Health insurance gaps that can wreck your finances before your career even gets started * How lifestyle inflation quietly sneaks up on you * The case for taking more risks early — in life and with your money * Real talk on housing: what they got right, what they got wrong, and what they'd tell their younger selves Whether you're in your 20s right now or just wishing you could go back, this episode has something for you. Chapters 00:00 Reflecting on Our 25-Year-Old Selves 01:33 Life at 25: Personal Experiences and Financial Realities 07:51 Lessons Learned: Regrets and Aha Moments 10:31 Financial Mistakes and Health Insurance Woes 11:57 Navigating Credit Scores and Financial Awareness 16:55 Traveling and Keeping Up with Friends 23:54 Big Financial Decisions: Cars and Investments 32:51 Advice to Our Younger Selves: Key Takeaways

We're Going Streaking... Through Your College Savings Account

The conversation delves into the challenges and considerations of college planning, including the looming cost of college, the evolution of college, the impact of college reputation, the rise of trade schools, and the importance of flexibility in college planning. It also explores the various college savings and investment accounts available, the role of FAFSA in college planning, and the importance of exposure to career options for effective college planning. Takeaways * College costs are increasing drastically, and it's important to plan for the financial implications of higher education. * Flexibility in college planning is crucial, and exposure to various career options is essential for effective decision-making. * Understanding the different college savings and investment accounts available can help in creating a comprehensive college funding strategy. Chapters * 00:00 The Looming Cost of College * 05:17 The Value of College Education * 10:31 College Savings and Investment Accounts * 15:37 The College Experience and Career Paths * 21:17 The Utma Account and College Savings * 26:24 The Flexibility of the Utma Account for College Savings * 31:34 The Realities of FAFSA and College Funding

It's Getting Financially Hot Takes in Here

The internet is full of financial "facts" that sound smart but don't hold up. This week, Derek and Kelly put 10 of the most popular financial hot takes to the test. Topics covered: * Do you actually need 20% down to buy a house? * Are credit cards really that bad? * Is all debt the enemy? * Is the stock market basically gambling? * Should you pay off your mortgage as fast as possible? * Should you always refinance when rates drop? * How much do you actually need in an emergency fund? * Are side hustles necessary to build wealth? * Is lifestyle inflation something you need to avoid at all costs? * Should you wait for interest rates to drop before buying a house? Spoiler: they disagree with the internet on most of them and they've got the math to back it up. Derek Mazzarella is a CFP® and author of Just Retire Already: An Unconventional Retirement Guide. Kelly Turner is a licensed mortgage broker. Together they host Millennial Money Matters, a personal finance podcast built for people who want real answers without the jargon. Reach out to Kelly Turner at kturner@totalmortgage.com [kturner@totalmortgage.com] and Derek Mazzarella at dmazzarella@mygfpartner.com [dmazzarella@mygfpartner.com] Hosted on Ausha. See ausha.co/privacy-policy [https://ausha.co/privacy-policy] for more information.

Baby Don't Hurt Me: With This Utility Bill

Most people calculate their mortgage payment and think that's the number. It's not even close. Derek and Kelly break down every cost of homeownership that nobody warned you about — from the obvious stuff like utilities and lawn care, to the things that will blindside you at 10pm on a Sunday night. Kelly shares her two basement flooding stories (yes, two), Derek explains the 1% maintenance rule (and why it's probably wrong), and they go through 38 responses from real homeowners on the hidden costs that surprised them most. Topics covered: The actual cost of utilities (heating, water, trash — yes, trash) Regular maintenance: lawn care, snow removal, dryer vents, septic pumping, radon systems The "OOP fund" — the stuff you budget for vs. the stuff that just breaks How property taxes and homeowner's insurance quietly creep up every year Ice dams: what they are and why you can't predict them Why the mortgage pre-approval number and what you should actually spend are two very different things If you're buying a home soon, already own one, or just want to know what you're getting into — this one's for you. ⏱️ TIMESTAMPS 0:00 – Intro / It's raining (again) 01:00 – Why the cost of homeownership conversation matters 03:00 – The 1% maintenance rule (and why $8,800/year is more accurate) 07:40 – Two cost buckets: expected maintenance vs. the unexpected 09:00 – Transitioning from renting to owning — the size shock 11:00 – Utilities deep dive: heating, water, electricity 16:20 – Cable/internet trap ($383/month to Starlink story) 19:15 – Regular home maintenance: lawn, snow removal, landscaping 24:15 – Annualized costs: septic, furnace, radon, HVAC 28:30 – The "OOP fund" — what breaks and what it actually costs 33:55 – Community responses: 38 hidden costs people didn't see coming 37:00 – Trees, wildlife, dryer vents, faucets (seriously, faucets) 41:30 – Property taxes and homeowner's insurance: why they always go up 43:15 – Ice dams explained 44:30 – Closing thoughts: eyes wide open Reach out to Kelly Turner at kturner@totalmortgage.com [kturner@totalmortgage.com] and Derek Mazzarella at dmazzarella@mygfpartner.com [dmazzarella@mygfpartner.com] Hosted on Ausha. See ausha.co/privacy-policy [https://ausha.co/privacy-policy] for more information.

All I Do is S&P, S&P, No Matter What

Is the S&P 500 all it's cracked up to be? Derek and Kelly break down everything you actually need to know about the most popular investment on the planet — what it is, why everyone recommends it, and why "just buy the S&P 500" isn't the complete answer. They cover how the index actually works (spoiler: it's not an equal split of 500 companies), why passive investing changed the game, the "Lost Decade" that nobody talks about, and the tax stuff that quietly eats your returns if you're not paying attention. Plus — fractional shares, the real barrier to entry for new investors, and why leaving money in cash inside your retirement account is a mistake more people make than you'd think. This is the episode for anyone who's Googled "where should I invest my money" and gotten the same three-word answer every time. Key Topics Covered: What the S&P 500 actually is (and why "Standard and Poor's" is a terrible name for something you want your money in) Market cap weighting — why 10 companies now control 35-40% of the index The Lost Decade: 2000-2010, when the S&P went nowhere for 10 years Active vs. passive management — and the real odds of beating the market long-term Tax efficiency of index funds vs. mutual funds Why "diversified" and "S&P 500 only" aren't the same thing anymore Fractional shares and how you can build a real portfolio with $100 The costly mistake of funding a retirement account and forgetting to actually invest it ⏱️ Timestamps 0:00 Intro — March Madness and Little League season 03:11 What is the S&P 500? 04:07 How companies enter and exit the index 04:5 4Market cap weighting explained 05:34 Why not just put everything in the S&P? 05:56 The Vanguard philosophy and passive investing 07:07 Index funds vs. individual stocks for new investors 07:45 The Rule of 72 09:57 The Lost Decade (2000–2010) 10:55 Active vs. passive management — the odds 12:45 Tax efficiency: index funds vs. mutual funds 14:31 Kelly's takeaway: investing and taxes are more connected than you think 16:06 Tax loss harvesting and why one fund limits your options 17:08 The "dinghy vs. yacht" analogy — when simplicity stops being enough 17:36 Are you actually diversified? The 10-company concentration problem 18:34 The vanilla ice cream vs. vanilla bean problem 19:00 Ice cream and hot chocolate: how real diversification works 20:04 Market volatility, behavior, and why the best days follow the worst 22:29 Are we entering a new cycle? International stocks and what's changing 23:24 Making predictions — what we can and can't know 24:08 Diverse portfolio vs. S&P only — what 2008 actually showed 25:00 Derek's advice: the S&P as the core, then build around it 25:30 Starting with $100 — what's actually possible now 28:35 Fractional shares and Gen Z's investing advantage 30:11 The cover charge on old mutual funds — why it used to be so much harder 31:07 The passbook savings account era 31:29 Common mistake: having a retirement account but not investing it 33:25 Final takeaway: S&P 500 is great — it just shouldn't be your only thing Reach out to Kelly Turner at kturner@totalmortgage.com [kturner@totalmortgage.com] and Derek Mazzarella at dmazzarella@mygfpartner.com [dmazzarella@mygfpartner.com] Hosted on Ausha. See ausha.co/privacy-policy [https://ausha.co/privacy-policy] for more information.