9 Biggest Ways you are wasting money

<p dir="ltr">There are many apps that helps us to organize our financial lives. Nevertheless, there are simple mental shifts that can help you rethink the way you are spending money so that you aren’t wasting it. </p>  </p> <p dir="ltr">*“Tax preparation, planning, IRS representation, and business valuation services offered through iFile Tax Planning and Preparation Services are separate and unrelated to Commonwealth.”</p> <p dir="ltr">Have questions about managing your financial lifestyle? Email Jake@youandifinancial.com and Jake Rivas may read your questions on the show!</p> <p dir="ltr">Follow Jake on Twitter and Facebook @jakestwocents</p> <p dir="ltr">Securities and advisory services offered through Commonwealth Financial Network, Member FINRA/SIPC, a Registered Investment Adviser. Fixed insurance products and services offered through CES Insurance Agency. </p> <p dir="ltr">Actual performance and results will vary. These interviews do not constitute a recommendation as to the suitability of any investment for any person or persons having circumstances similar to those portrayed. Consult a Financial Advisor regarding your specific circumstances. I*financial is located at 1901 NW Military Hwy. STE. 102. San Antonio, TX 78213. Phone number 210-342-4346</p>  </p>

00:36:46

Beyond the Hype: The Realities of Rental Property Investments

In a recent episode of the "Jack of All Trades" podcast, host Jake Nuno delved into the subject of passive income from rental properties, a topic currently gaining traction, especially among young professionals. While low mortgage rates until 2022 made owning multiple properties seem appealing, rising rates are beginning to change that narrative. Jake highlighted the need for investors to be aware of the hidden costs and potential pitfalls of using mortgages for such investments. Drawing from personal experience, he shared the story of considering turning his previous home into a rental property. Despite the potential for a positive cash flow, Jake factored in property management fees and unforeseen expenses, like a failing water heater. Such unexpected costs could have easily turned a seemingly profitable venture into a financial burden. Jake's core message: while rental properties can be lucrative, potential investors should be wary of operating costs and have realistic profit expectations. The podcast continued with a discussion on budgeting for a house purchase.</p> <p dir="ltr">*“Tax preparation, planning, IRS representation, and business valuation services offered through iFile Tax Planning and Preparation Services are separate and unrelated to Commonwealth.”</p> <p dir="ltr">Have questions about managing your financial lifestyle? Email Jake@youandifinancial.com and Jake Rivas may read your questions on the show!</p> <p dir="ltr">Follow Jake on Twitter and Facebook @jakestwocents</p> <p dir="ltr">Securities and advisory services offered through Commonwealth Financial Network, Member FINRA/SIPC, a Registered Investment Adviser. Fixed insurance products and services offered through CES Insurance Agency. </p> <p dir="ltr">Actual performance and results will vary. These interviews do not constitute a recommendation as to the suitability of any investment for any person or persons having circumstances similar to those portrayed. Consult a Financial Advisor regarding your specific circumstances. I*financial is located at 1901 NW Military Hwy. STE. 102. San Antonio, TX 78213. Phone number 210-342-4346</p>  </p>

00:30:55

Is a Housing Bust Coming?

<p dir="ltr">A Houston-based landlord has reduced their portfolio of rental units from 7,000 to 3,000 in a relatively short period of time. This raises the question of whether this is indicative of a larger problem. Tune in to Jake and Kirk's discussion to learn more.</p>  </p> <p dir="ltr">*“Tax preparation, planning, IRS representation, and business valuation services offered through iFile Tax Planning and Preparation Services are separate and unrelated to Commonwealth.”</p> <p dir="ltr">Have questions about managing your financial lifestyle? Email Jake@youandifinancial.com and Jake Rivas may read your questions on the show!</p> <p dir="ltr">Follow Jake on Twitter and Facebook @jakestwocents</p> <p dir="ltr">Securities and advisory services offered through Commonwealth Financial Network, Member FINRA/SIPC, a Registered Investment Adviser. Fixed insurance products and services offered through CES Insurance Agency. </p> <p dir="ltr">Actual performance and results will vary. These interviews do not constitute a recommendation as to the suitability of any investment for any person or persons having circumstances similar to those portrayed. Consult a Financial Advisor regarding your specific circumstances. I*financial is located at 1901 NW Military Hwy. STE. 102. San Antonio, TX 78213. Phone number 210-342-4346</p>  </p>

00:37:40

Living Single and Maximizing Your Money

<p dir="ltr">What can you do to maximizing your money and financial future if you are single? There are many tax advantages as well as planning advantages to having two incoomes. Today Jake and Kirk discuss single life and how to improve your finances.</p>  </p> <p dir="ltr">*“Tax preparation, planning, IRS representation, and business valuation services offered through iFile Tax Planning and Preparation Services are separate and unrelated to Commonwealth.”</p> <p dir="ltr">Have questions about managing your financial lifestyle? Email Jake@youandifinancial.com and Jake Rivas may read your questions on the show!</p> <p dir="ltr">Follow Jake on Twitter and Facebook @jakestwocents</p> <p dir="ltr">Securities and advisory services offered through Commonwealth Financial Network, Member FINRA/SIPC, a Registered Investment Adviser. Fixed insurance products and services offered through CES Insurance Agency. </p> <p dir="ltr">Actual performance and results will vary. These interviews do not constitute a recommendation as to the suitability of any investment for any person or persons having circumstances similar to those portrayed. Consult a Financial Advisor regarding your specific circumstances. I*financial is located at 1901 NW Military Hwy. STE. 102. San Antonio, TX 78213. Phone number 210-342-4346</p>  </p>

00:31:45

They’ve Made a Deal: Debt Ceiling and the Market’s Reactions

<p dir="ltr">The Debt ceiling has been raised and you’ll likely have to make some changes to your financial planning. </p> <p dir="ltr">On this episode we have added a new segment: Money Monologue with Jake Nuno. He will teach a financial concept each week in a short talk. This week he will discuss how media effects your financial biases.</p> <p dir="ltr">*“Tax preparation, planning, IRS representation, and business valuation services offered through iFile Tax Planning and Preparation Services are separate and unrelated to Commonwealth.”</p> <p dir="ltr">Have questions about managing your financial lifestyle? Email Jake@youandifinancial.com and Jake Rivas may read your questions on the show!</p> <p dir="ltr">Follow Jake on Twitter and Facebook @jakestwocents</p> <p dir="ltr">Securities and advisory services offered through Commonwealth Financial Network, Member FINRA/SIPC, a Registered Investment Adviser. Fixed insurance products and services offered through CES Insurance Agency. </p> <p dir="ltr">Actual performance and results will vary. These interviews do not constitute a recommendation as to the suitability of any investment for any person or persons having circumstances similar to those portrayed. Consult a Financial Advisor regarding your specific circumstances. I*financial is located at 1901 NW Military Hwy. STE. 102. San Antonio, TX 78213. Phone number 210-342-4346</p>  </p>

00:33:02

Financial Literacy for Kids

<p dir="ltr">Jake and Kirk believe in the power of financial literacy in building happy and fulfilled lives. On this episode they discuss some methods and techniques for teaching children about financial literacy at a young age. They break this down into ages as young as 6 years old and on up to high school age.</p> </p> <p dir="ltr">*“Tax preparation, planning, IRS representation, and business valuation services offered through iFile Tax Planning and Preparation Services are separate and unrelated to Commonwealth.”</p> <p dir="ltr">Have questions about managing your financial lifestyle? Email Jake@youandifinancial.com and Jake Rivas may read your questions on the show!</p> <p dir="ltr">Follow Jake on Twitter and Facebook @jakestwocents</p> <p dir="ltr">Securities and advisory services offered through Commonwealth Financial Network, Member FINRA/SIPC, a Registered Investment Adviser. Fixed insurance products and services offered through CES Insurance Agency. </p> <p dir="ltr">Actual performance and results will vary. These interviews do not constitute a recommendation as to the suitability of any investment for any person or persons having circumstances similar to those portrayed. Consult a Financial Advisor regarding your specific circumstances. I*financial is located at 1901 NW Military Hwy. STE. 102. San Antonio, TX 78213. Phone number 210-342-4346</p>  </p>

00:45:19

Hey Small Businesses, Did your Tax Bill SHOCK You?

<p dir="ltr">Unfortunately, many small businesses with surprised on April 18th, Tax Day, when they discovered some hefty additional taxes. For 2022, it may be too late to alter your taxes (though you should speak to a tax professional to make certain). However, these tax changes can affect you for 2023. You should be taking steps to reduce your tax burden during the year. On this episode Jake and Kirk discuss some of these steps you can take and plans you can make for 2023. </p> <p dir="ltr"> </p> <p dir="ltr">*“Tax preparation, planning, IRS representation, and business valuation services offered through iFile Tax Planning and Preparation Services are separate and unrelated to Commonwealth.”</p> <p dir="ltr">Have questions about managing your financial lifestyle? Email Jake@youandifinancial.com and Jake Rivas may read your questions on the show!</p> <p dir="ltr">Follow Jake on Twitter and Facebook @jakestwocents</p> <p dir="ltr">Securities and advisory services offered through Commonwealth Financial Network, Member FINRA/SIPC, a Registered Investment Adviser. Fixed insurance products and services offered through CES Insurance Agency. </p> <p dir="ltr">Actual performance and results will vary. These interviews do not constitute a recommendation as to the suitability of any investment for any person or persons having circumstances similar to those portrayed. Consult a Financial Advisor regarding your specific circumstances. I*financial is located at 1901 NW Military Hwy. STE. 102. San Antonio, TX 78213. Phone number 210-342-4346</p> <p dir="ltr"> </p>

00:35:11

5 Steps to Take in a Banking Crisis

<p dir="ltr">Jake and Kirk discuss the banking crisis and give 5 specific steps to consider amidst this particular crisis and other potential ones in the future.</p> <p dir="ltr">*“Tax preparation, planning, IRS representation, and business valuation services offered through iFile Tax Planning and Preparation Services are separate and unrelated to Commonwealth.”</p> <p dir="ltr">Have questions about managing your financial lifestyle? Email Jake@youandifinancial.com and Jake Rivas may read your questions on the show!</p> <p dir="ltr">Follow Jake on Twitter and Facebook @jakestwocents</p> <p dir="ltr">Securities and advisory services offered through Commonwealth Financial Network, Member FINRA/SIPC, a Registered Investment Adviser. Fixed insurance products and services offered through CES Insurance Agency. </p> <p dir="ltr">Actual performance and results will vary. These interviews do not constitute a recommendation as to the suitability of any investment for any person or persons having circumstances similar to those portrayed. Consult a Financial Advisor regarding your specific circumstances. I*financial is located at 1901 NW Military Hwy. STE. 102. San Antonio, TX 78213. Phone number 210-342-4346</p>  </p>

00:37:11

Life Insurance through work?

<p dir="ltr">How can you know if the life insurance through your work is sufficient for your needs? On this episode Jake and Kirk discuss ways to think through what is a proper life insurance for you. This of course differs for everyone. But there are helpful principles.</p>  </p> <p dir="ltr">*“Tax preparation, planning, IRS representation, and business valuation services offered through iFile Tax Planning and Preparation Services are separate and unrelated to Commonwealth.”</p> <p dir="ltr">Have questions about managing your financial lifestyle? Email Jake@youandifinancial.com and Jake Rivas may read your questions on the show!</p> <p dir="ltr">Follow Jake on Twitter and Facebook @jakestwocents</p> <p dir="ltr">Securities and advisory services offered through Commonwealth Financial Network, Member FINRA/SIPC, a Registered Investment Adviser. Fixed insurance products and services offered through CES Insurance Agency. </p> <p dir="ltr">Actual performance and results will vary. These interviews do not constitute a recommendation as to the suitability of any investment for any person or persons having circumstances similar to those portrayed. Consult a Financial Advisor regarding your specific circumstances. I*financial is located at 1901 NW Military Hwy. STE. 102. San Antonio, TX 78213. Phone number 210-342-4346</p>  </p>

00:18:18

Should I Opt out of my Pension to Pay for Rising Cost of Living

<p dir="ltr">With cost of living expenses rises and incomes not necessarily meeting those costs, people are having difficult conversations about their finances. One question financial advisors get during times like this is about opting out of one’s pension plan in order to meet the rising costs. On this episode Jake and Kirk discuss this issue and what can be done.</p> <p dir="ltr">*“Tax preparation, planning, IRS representation, and business valuation services offered through iFile Tax Planning and Preparation Services are separate and unrelated to Commonwealth.”</p> <p dir="ltr">Have questions about managing your financial lifestyle? Email Jake@youandifinancial.com and Jake Rivas may read your questions on the show!</p> <p dir="ltr">Follow Jake on Twitter and Facebook @jakestwocents</p> <p dir="ltr">Securities and advisory services offered through Commonwealth Financial Network, Member FINRA/SIPC, a Registered Investment Adviser. Fixed insurance products and services offered through CES Insurance Agency. </p> <p dir="ltr">Actual performance and results will vary. These interviews do not constitute a recommendation as to the suitability of any investment for any person or persons having circumstances similar to those portrayed. Consult a Financial Advisor regarding your specific circumstances. I*financial is located at 1901 NW Military Hwy. STE. 102. San Antonio, TX 78213. Phone number 210-342-4346</p> <p dir="ltr"> </p>  </p>

00:26:04