85 episodes

Young families receive little to no personal finance help. We all grow up to have jobs and money, yet our education system focuses on Shakespeare and Algebra. Even professional advice can be hard to come by, with the majority of the industry chasing retirees and existing wealth.

Joe Okaly's podcast is aiming to change this, providing personal financial advice geared specifically to professionals with young families. This podcast is dedicated to making life more enjoyable for young families, by hitting on the financial topics that tend to weigh on us, stress us out, and distract our focus from simply enjoying life.

Joseph P Okaly is a CFP Certified Financial Advisor who fits directly in with who this podcast is focused on - a young professional with a family. With over a decade of experience as an advisor, there is passion and knowledge to make a difference.

Securities offered through TFS Securities, Inc., Advisory Services through TFS Advisory Services, a SEC Registered Investment Advisor Member FINRA / SIPC. TFS Securities, Inc. located at 437 Newman Springs Road, Lincroft, NJ 07738 (732) 758-9300.

Enjoy More 30s: Family Finance Joseph P. Okaly

    • Education
    • 5.0 • 13 Ratings

Young families receive little to no personal finance help. We all grow up to have jobs and money, yet our education system focuses on Shakespeare and Algebra. Even professional advice can be hard to come by, with the majority of the industry chasing retirees and existing wealth.

Joe Okaly's podcast is aiming to change this, providing personal financial advice geared specifically to professionals with young families. This podcast is dedicated to making life more enjoyable for young families, by hitting on the financial topics that tend to weigh on us, stress us out, and distract our focus from simply enjoying life.

Joseph P Okaly is a CFP Certified Financial Advisor who fits directly in with who this podcast is focused on - a young professional with a family. With over a decade of experience as an advisor, there is passion and knowledge to make a difference.

Securities offered through TFS Securities, Inc., Advisory Services through TFS Advisory Services, a SEC Registered Investment Advisor Member FINRA / SIPC. TFS Securities, Inc. located at 437 Newman Springs Road, Lincroft, NJ 07738 (732) 758-9300.

    Getting Good Debt Gone | Series 9.8

    Getting Good Debt Gone | Series 9.8

    If you had the option to either save 4% or make 7%, which would you choose?
    Certain debts are regarded as good and so getting rid of something good would have to then generally be regarded as a bad thing to do. (01:07)
    If you had the option to save 4% or make 7%, the best answer for those who do not want to be a millionaire would be to save 4%. Saving 4% is obviously much less than making 7. (01:24)
    This can apply to things such as lower interest student loans, or even just switching to a 15 year mortgage instead of a 30 year, forcing you to commit to paying back more money more quickly into a perhaps very low or even potentially tax deductible, good debt like a mortgage. (01:57)

    Quote for the episode: "So paying off a 4% mortgage for example, early with extra payments, instead of taking that same exact money and putting it into a well diversified investment that may make 7% for example long term is a great strategy to not be a millionaire." (01:39)
    Securities offered through TFS Securities, Inc., and Advisory Services through TFS Advisory Services, an SEC Registered Investment Advisor Member FINRA/SIPC. TFS Securities, Inc., is located at 437 Newman Springs Road, Lincroft, NJ 07738 (732) 758-9300.

    • 4 min
    Blowing the Bonus | Series 9.7

    Blowing the Bonus | Series 9.7

    Receive a bonus every year? Be intentional with it! It could have a profound effect on your finances in either direction!
    Bonuses can be a great additional way to build wealth. (01:09)
    If you were to receive a $5,000 bonus every year for 35 years working, that is $175,000. If that were to be invested every year and receive 10% over those same 35 years, it would be worth a whopping 1.3 million. (01:21)
    As it is not money you depend on for bills, you can pretend it doesn't really exist and give your wealth a boost. Even if you just saved half, it would likely make a very clear and profound difference for you. (02:32)

    Quote for the episode: "...saving your annual bonus is an excellent way to go about it. It could mean an extra 1 million or more like in our example, allowing you to be more comfortable on a monthly basis with your cash flow and reaching your goals much more quickly." (02:14)
    Securities offered through TFS Securities, Inc., and Advisory Services through TFS Advisory Services, an SEC Registered Investment Advisor Member FINRA/SIPC. TFS Securities, Inc., is located at 437 Newman Springs Road, Lincroft, NJ 07738 (732) 758-9300.

    • 3 min
    Pretending You Can't Die | Series 9.6

    Pretending You Can't Die | Series 9.6

    If you have a family, chances are, you need life insurance!
    To have the best chance of not being a millionaire then that would mean leaving this huge asset exposed by pretending death cannot happen to you. (01:48)
    Simply don't ask yourself questions like, "How would my family be able to stay in our home?" "How would my spouse be able to pay all the bills?" "How would my children pay for college?" "How would my spouse be able to stay on track for all the goals we laid out together?" (01:58)
    If you do want to have answers to all those questions, though, if you want protection for your spouse and your kids so that they wouldn't have to perhaps uproot their entire life because of financial deficiencies while simultaneously mourning your loss, then there is life insurance. (02:20)
    And if you are young and healthy, a fixed rate term policy is incredibly affordable. (02:48)

    Securities offered through TFS Securities, Inc., and Advisory Services through TFS Advisory Services, an SEC Registered Investment Advisor Member FINRA/SIPC. TFS Securities, Inc., is located at 437 Newman Springs Road, Lincroft, NJ 07738 (732) 758-9300.

    • 4 min
    Budgeting Backwards | Series 9.5

    Budgeting Backwards | Series 9.5

    "Paying yourself first" - look it up!
    The best way to avoid saving is to only save what is left at the end of the month. This way, you have a great chance of spending all of your income, leaving absolutely nothing left to save towards yourself. (01:13)
    If you are really committed to not being a millionaire, then you would take it a step even further and spend even more than you make every month, accumulating credit card debt and severely hampering your overall wealth ability. (01:26)
    Saving $500 a month for 30 years at 10% comes out to over $1.1 million. Someone who saves just $300 a month because they are spending first and saving last, would come out at over $450,000 less over those same 30 years and 10% rate. (01:50)

    Quote for the episode: "Saving part of your income is one of the main drivers in building wealth." (01:02)
    Securities offered through TFS Securities, Inc., and Advisory Services through TFS Advisory Services, an SEC Registered Investment Advisor Member FINRA/SIPC. TFS Securities, Inc., is located at 437 Newman Springs Road, Lincroft, NJ 07738 (732) 758-9300.

    • 3 min
    Disinterested in Disability | Series 9.4

    Disinterested in Disability | Series 9.4

    Your future income potential is your greatest asset; protect it!
    To have the best chance of not being a millionaire, then that would mean leaving this huge asset exposed to one of the most likely occurrences; disability. (01:31)
    Getting to that roughly 60% of income protection to age 65 is most times considered a good level of protection. (02:24)
    ...if it does occur, it not only takes out your income, but it also may add on a huge amount of expenses to take care of the disability itself. (01:52)

    Quote for the episode: "Disability is about three times as likely to occur as death while working so this exposure would be one of the most likely to be realized." (01:42)
    Securities offered through TFS Securities, Inc., and Advisory Services through TFS Advisory Services, an SEC Registered Investment Advisor Member FINRA/SIPC. TFS Securities, Inc., is located at 437 Newman Springs Road, Lincroft, NJ 07738 (732) 758-9300.

    • 3 min
    Rushing Past the Roth | Series 9.3

    Rushing Past the Roth | Series 9.3

    Roth IRAs grow tax-free! A great way to build your wealth!
    Roth retirement accounts, whether that be a Roth IRA, which would be a retirement account that you set up on your own, or a Roth 401(k), which would be a retirement account you set up through work, all grow completely tax free. (01:06)
    The more you pay in taxes, the more it will hamper your financial situation. Perfect for avoiding the building up of wealth. (01:32)
    While Roth IRAs always have income limits, if you make too much you are not eligible. (02:34)

    Quote for the episode: "Now if you actually do want to be a millionaire and pay less in taxes on all that investment growth, a Roth account would likely be a great way to do that." (02:14)
    Securities offered through TFS Securities, Inc., and Advisory Services through TFS Advisory Services, an SEC Registered Investment Advisor Member FINRA/SIPC. TFS Securities, Inc., is located at 437 Newman Springs Road, Lincroft, NJ 07738 (732) 758-9300.

    • 3 min

Customer Reviews

5.0 out of 5
13 Ratings

13 Ratings

kcamp24 ,

Educational, relatable, and quick!

It can be daunting trying to figure out how to save for a wedding, car, house, etc.... Joe does a great job of providing information without leaving me overwhelmed!!

gameiiiiiii ,

Exceptionally easy to understand

Thank you for lessening my anxiety each week by simplifying my financial outlook and preparation for the future. Your easy manner and analogies into your family life allow each step to be uncomplicated and tension-free.

lexborino ,

SO good!

Joe is SO relatable! This is not just your typical run of the mill finance podcast. This is something anyone & everyone can listen to and learn from! I have basically zero knowledge when it comes to finances, kinda just do as I’m told but after episode 1, I already feel soo much more confident! Coming into 2021 ready to get it together! Thanks Joe!

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