New Money New Problems Podcast
New Money New Problems Podcast
Financial Literacy Horror Stories
Use Left/Right to seek, Home/End to jump to start or end. Hold shift to jump forward or backward.
EPISODE RESOURCES
Register for the Financial Symposium!
Check out the Change of Plans Checklist
Financial Literacy Month Horror Stories: Credit, Taxes, Insurance, Investing, and Estate Planning Mistakes
In honor of April being Financial Literacy Month, we share de-identified “horror stories” from real client experiences to show how small financial mistakes can create major consequences. You'll hear the dangers of co-signing loans, highlighting a divorce scenario where an overlooked private student loan left a co-signer responsible after the ex-spouse defaulted. We also tell a frightening tale of a homeowner whose seemingly small decision to close a card cost them over $150,000! On taxes, we recount a sale where an incorrect report of an investment sale doubled a client's tax bill and took over 6 months to correct. Taxes, Estate planning, investments: plenty of spooky stories for all.
TUNE IN!
00:00 Financial Literacy Horror Stories
00:56 Why April Matters
02:18 Cosigning Gone Wrong
05:12 Credit Mistakes Before Closing
08:20 Tax Return Cost Basis Error
10:32 Gap Finder Break
11:41 Insurance Policy Surprise
13:54 REIT Taxes Explained
16:10 Net Unrealized Appreciation
18:29 Estate Planning Pitfalls
21:31 Final Takeaways and Event