Emotional Balance Sheet with Paul Fenner TAMMA Capital

As we dive into the summer vacation season, a frequently asked question arises: should I buy a vacation home or rental property?
I share personal insights and experiences from when my family purchased a vacation home in Traverse City, Michigan, diving into the various considerations and decisions involved in such a significant financial commitment.
Here are some key takeaways to consider
Understand the purpose: investment property vs. future retirement home Factor in costs: property management fees, higher taxes, maintenance/repairs Rental income may not cover all expenses, especially for a future retirement home Limits ability to travel elsewhere if frequently using the vacation home I hope this episode provides helpful guidance as you navigate the complexities of owning a second home.  Learn what factors you should weigh before taking the plunge into vacation home ownership.
Connect with Paul
Contact Paul here or schedule a time to meet with Paul here.
For resources discussed in this episode, visit tammacapital.com/podcast.
Follow Paul on LinkedIn, Instagram, and Facebook.
And feel free to email Paul at pfenner@tammacapital.com with any feedback, questions, or ideas for future guests and topics.
Resources Featured in This Episode:
Vacation Real Estate You Can Understand
HGTV Host Provides Insights on How to Make a Second Home a Reality
Understanding Capital Gains Taxes on Home Sales

Recently, a massive breach at Ticketmaster potentially affected over 500 million people.  While this is not an isolated incident, data breaches are becoming increasingly common.  So what can you do?
In this episode, I'll be sharing practical steps you can take to safeguard your personal information, including investing in a credit monitoring service, using a password manager, and possibly freezing your credit.
Connect with Paul
Contact Paul here or schedule a time to meet with Paul here.
For resources discussed in this episode, visit tammacapital.com/podcast.
Follow Paul on LinkedIn, Instagram, and Facebook.
And feel free to email Paul at pfenner@tammacapital.com with any feedback, questions, or ideas for future guests and topics.
Resources Featured in This Episode:
ID Shield
Dashlane
Ticketmaster, Live Nation sued: Millions of customers' personal data listed on black market, suit claims

 
Do you believe the U.S. government is going bankrupt?
It's becoming more of a common question as our national debt levels have ballooned to epic proportions.  It might even conjure up emotions of fear if you listen to mainstream media sources.
However, if we go beyond the headlines, we will find that the U.S. is not going bankrupt, and we should likely be thankful for the wealth we have created in part from our increase in national debt.
I call on my friend and economic expert Cullen Roche's writing to help us see that America's fiscal health is far from critical.  Why the government, with its monetary might and 'printing press' capability as seen during the COVID crisis, cannot go bankrupt like a typical household.
Connect with Paul
Contact Paul here or schedule a time to meet with Paul here.
For resources discussed in this episode, visit tammacapital.com/podcast.
Follow Paul on LinkedIn, Instagram, and Facebook.
And feel free to email Paul at pfenner@tammacapital.com with any feedback, questions, or ideas for future guests and topics.

Have you ever wondered if standardized tests like the SAT or ACT are still relevant, especially when colleges offer test-optional admissions?
The debate around standardized testing has become more nuanced than ever.  With the rise of test-optional college admissions, many students and parents grapple with the question: Is taking the SAT or ACT still necessary?
I wanted to speak with Dr. Shaan Patel, the founder and CEO of Prep Expert, a leading test preparation company, to shed light on this topic.  Dr. Patel's expertise offers invaluable insights into why standardized tests still matter, even in a test-optional era.
Drawing from his experience of conquering standardized tests and securing scholarships, he highlights the pivotal role of motivation and resilience in achieving academic and professional goals.
From navigating the pressures of Shark Tank to finding harmony between a career in dermatology and entrepreneurship, Dr. Patel's story offers practical advice for families and valuable lessons in pursuing passions and seizing opportunities.
Please enjoy my conversation with Dr. Shaan Patel.
Connect with Paul
Contact Paul here or schedule a time to meet with Paul here.
For resources discussed in this episode, visit tammacapital.com/podcast.
Follow Paul on LinkedIn, Instagram, and Facebook.
And feel free to email Paul at pfenner@tammacapital.com with any feedback, questions, or ideas for future guests and topics.

Welcome to a special "Emotional Balance Sheet" graduation episode where we're diving into real-world advice for all the fresh graduates.  Congratulations on this incredible milestone in your life!  Now, let's talk about what comes next.
While the world often echoes Steve Jobs' famous 2005 Stanford speech urging graduates to follow their passion, today, we will shake things up and challenge that narrative.  Instead, I encourage you to pursue what you enjoy and what can sustain you financially because passion alone doesn't pay the bills.
To help get you started with this next phase of life, I have brought in one of my favorite writers, Morgan Housel.  Morgan wrote an article that provides unsolicited advice to recent college grads, which I wanted to share with you today, sprinkled in with a few thoughts of my own.
The beauty of this advice in typical Morgan fashion is that it applies to adults who could be in the prime of their careers.
Connect with Paul
Contact Paul here or schedule a time to meet with Paul here.
For resources discussed in this episode, visit tammacapital.com/podcast.
Follow Paul on LinkedIn, Instagram, and Facebook.
And feel free to email Paul at pfenner@tammacapital.com with any feedback, questions, or ideas for future guests and topics.

Have you ever taken the time to think about who you are?  We all have multiple identities, but how do the different people we represent come together to form who we are?
Christina Gossayn, a behavioral scientist and Ph.D. in Organizational Behavior candidate, has focused her research on how identities evolve over time, especially under the mantle of responsibility that comes with age.  Our self-reflection can take a backseat as we juggle various roles, from professionals to parents.
For many, particularly working parents, the struggle to make time for reflection is real.  Christina and I discuss practical ways for individuals to prioritize and define their purpose amidst the hustle of daily life.
Here are three key takeaways:
Understanding the value of taking time to contemplate one's purpose and objectives even amidst daily responsibilities. Acknowledging that our identity is not static but constantly shaped by experiences and reflections opening doorways to authentic growth and leadership. Challenging the notion that our careers solely define us and recognizing the importance of empathy, relationships, and personal joys. So, as we prepare to embark on this journey into self, I invite you all to take a step back, reflect, and maybe discover something new about the ever-changing landscape of your own identity.
Please enjoy my conversation with Christina Gossayn.