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January 11th, 2019

617-Friday Q&A: Giving Money to Poor People, Contributing My Salary to my Wife's 401(k), Protecting Investment Accounts, Buying Term Life Insurance while FI, etc!

  1. 617-Friday Q&A: Giving Money to Poor People, Contributing My Salary to my Wife's 401(k), Protecting Investment Accounts, Buying Term Life Insurance while FI, etc! Joshua Sheats 1:08:05

1:45 – How can I give nice gift to people who are poorer than I am without creating a power imbalance?

15:20 – Can I contribute my salary into a 401(k) plan for my wife in order to maximize our Retirement account contributions?

28:05 – How can I protect my non-qualified investment accounts that are exposed to the claims of creditors?

44:30 – I don’t “need” term life insurance because I’m financially independent. Should I still buy some?

51:00 – I’m following Dave Ramsey’s baby steps and am almost out of debt; should I store up my emergency fund in a Roth IRA?

56:00 – I want to buy an investment that will pay for my new car instead of just burning all my cash on the car. How do I do that?

(For the context of any time-relevant comments relating to current events, this Q&A was recorded on 12/19/2018.)

Joshua Sheats Teacher, Host, Broadcaster, Entrepreneur

Joshua J. Sheats, MSFS, is the world's leading authority on integrating lifestyle goals and money goals without conflict. He teaches normal people how to seamlessly connect the science of financial planning with the joy of goal achievement.

Joshua is dedicated to helping normal people achieve financial freedom by merging creative (and crazy) ideas from the world of personal finance with the academic integrity of formal financial planning. He simplifies complex money topics and makes boring financial mumbo-jumbo less boring.