Stuff About Money

In this episode of the Stuff About Money They Didn’t Teach You in School podcast, certified financial planner Erik Garcia speaks directly to those regularly investing in a 401(k), 403(b), or IRA. With the market constantly shifting, it can be tempting to pause contributions and wait for “better” times. But that move might cost you more than you think. Erik explains why dollar cost averaging—investing consistently regardless of market conditions—is actually your retirement plan’s greatest superpower. You’ll hear about three powerful benefits of dollar cost averaging, along with two real challenges that make it tough to stick with. This episode is all about helping you stay confident and committed to your long-term plan—even when the headlines say otherwise. If you're wondering whether to keep investing through market noise, this one’s for you. Listen here: https://apple.co/4cuMQEI Watch here: https://bit.ly/4lNDecW

In this episode of Stuff About Money They Didn't Teach You in School, I (Erik Garcia, CFP®, ChFC®, BFA™) take a solo journey back to 2019—pre-COVID, pre-pandemic stimulus, pre-whatever the heck this current economy is. It's wild to think how much has changed… and how much has stayed the same. This episode opens with a confusing encounter with a Polish website and a German iPhone—setting the stage for how disorienting the financial world can feel when recession fears start swirling. And lately? With inflation still lingering, market volatility, and general unease—it's giving déjà vu all over again. Though recorded years ago, the financial wisdom in this episode remains rock solid. I unpack five economic realities that hold true no matter the cycle, explain key market terms you’re probably hearing more of, and walk through a 4-step plan that works at any income level. Whether you're nervous about what's next or just want to make smarter money moves, this episode is a reminder that fear doesn’t have to drive your decisions—clarity and preparation can. Be sure to follow the show and share it with someone who could use a little financial calm in the chaos. Listen here: https://apple.co/4cuMQEI

We all think having more money will make us happier, but what if the way we instinctively spend it isn’t actually the key to lasting happiness? In this episode of Stuff About Money, Erik Garcia, CFP®, dives into five ways we can use money, and why the thing we want to do with it—buying more stuff—won’t bring us the deep, fulfilling happiness we hope for. Instead, he explores the four things that actually do create happiness: investing in experiences, buying back time, giving generously, and saving for the future. From reflecting on a family trip to Disney World to the conversation we all love to have—“What would you do if you won the lottery?”—this episode challenges the way we think about money and what it can (and can’t) buy. Erik breaks down why spending money on experiences creates memories that last, why buying time back only works if you actually use it wisely, and how generosity is one of the most unexpected happiness boosters. Plus, he explains why saving money isn’t just about financial security—it’s about progress, and progress makes us happy. If you’re looking for a way to shift your mindset on money and happiness, this episode is for you. Tune in, challenge yourself to rethink how you spend, and share this episode with someone who could use a fresh perspective on what really leads to financial joy. Plan wisely, live confidently! Listen here: https://apple.co/4cuMQEI Watch here: https://bit.ly/4iNHdUA

Debt. Some people hate it. Some people tolerate it. And when it comes to a mortgage, the debate gets even more interesting. In this episode of Stuff About Money They Didn’t Teach You in School, Erik Garcia unpacks the question that’s been on the minds of several clients this week: Should I pay off my mortgage early? With four unique client scenarios—ranging from low-interest-rate borrowers with excess cash flow to high-rate homeowners debating a refinance—Erik highlights why there’s no one-size-fits-all answer. Along the way, he shares his personal philosophy on debt (hint: not all debt is created equal) and why blindly following financial advice can sometimes backfire. As the episode unfolds, Erik explores the key factors to consider when making this decision—your interest rate, cash flow, investment potential, and, most importantly, your comfort level with risk. Sure, being mortgage-free sounds appealing, but what if paying it off means leaving yourself cash-poor? Trading your liquidity for a paid-off home might seem like the responsible move, but could it actually be a risky bet? Before you rush to throw extra payments at your mortgage, tune in to this thought-provoking conversation to ensure your financial strategy aligns with your long-term goals. Listen here: https://apple.co/4cuMQEI Watch here: https://bit.ly/3FlChaM

In this episode of the Stuff About Money podcast, Erik and Xavier kick off this episode with a slightly humorous conversation about the unique way people from New Orleans speak—because if nothing else, in The Big Easy, they have their own way of doing things. But that same tendency to do things our way extends beyond language—it also applies to how we handle money. More specifically, how we don’t handle it. That’s right, this episode dives into the all-too-common habit of financial procrastination and why we keep telling ourselves, “I’ll take care of it tomorrow.” Why do we put off saving for retirement, getting life insurance, or investing for the future? It turns out, human nature makes it easy to prioritize today’s wants over tomorrow’s needs. Erik and Xavier explore the psychology behind why we delay crucial financial decisions, touching on everything from marshmallow experiments to why our future selves feel like total strangers. They also break down practical ways to stop stalling and start acting—from automation to visualization and a little bit of accountability (actually, a lot of accountability). Lean into this conversation for a fresh perspective on making smarter financial choices—or at the very least, to expand your New Orleans vocabulary. Listen here: https://apple.co/4cuMQEI Watch here: https://bit.ly/4bbeHJY

In this episode of Stuff About Money They Didn’t Teach You in School, certified financial planners Erik Garcia, CFP®, and Xavier Angel, CFP®, are joined by Javier Sanchez, AVP of Financial Literacy for Fidelity Bank. Together, they explore how teaching kids about money has shifted in the digital age. The classic piggy bank may be fading, but the need for financial education is stronger than ever. Javier shares practical insights on starting financial conversations early, navigating the risks of credit cards, and the importance of modeling good money behavior for our children. They also dive into how mobile banking apps and automated savings can help young people develop healthy financial habits. From personal stories—like Erik’s experience of spending more when swiping a credit card compared to paying with cash—to actionable advice on budgeting and avoiding credit card debt, this episode is packed with valuable tips for parents and caregivers. And hey, even if you think you’ve got your finances figured out, you might just walk away with a few new money skills yourself—or at least feel slightly more prepared than your kids. Be sure to follow, share, and let us know how you’re teaching money skills at home! Listen here: https://apple.co/4cuMQEI Watch here: https://bit.ly/40sc8Ot

What should you expect in 2025? Will market volatility and inflation trends continue to dominate the economy? In this dynamic episode of Stuff About Money They Didn’t Teach You in School, host Erik Garcia, CFP®, sits down with Phil Blancato, Chief Market Strategist for Osaic Wealth Management and CEO of Ladenburg Thalmann, to break down the biggest surprises of 2024 and what’s ahead for the markets. They dive into whether the explosive growth of the Magnificent 7 tech giants can continue and discuss how market corrections and volatility could impact investors in the coming year. Are you ready for potential market pullbacks in 2025? Erik and Phil share practical strategies to help you navigate economic uncertainty and position your portfolio for long-term success. Tune in for valuable insights and expert guidance on managing risk in today’s unpredictable market. If you find this episode helpful, follow the show and share it with someone who’s looking to make smarter financial moves this year! Listen here: https://apple.co/4cuMQEI Watch here: https://bit.ly/4g3g1zj

Why do most New Year's resolutions fail, and why is it often a waste of time to even set them? In this engaging episode of "Stuff About Money," certified financial planners Xavier Angel and Erik Garcia commit to changing their mindset as they usher in 2025. They explore the common pitfalls of resolutions, revealing that a staggering 80% of goals fall by the wayside within the first month. Instead of traditional resolutions, Xavier and Erik emphasize the importance of actionable strategies that focus on living in the gain and creating new neural pathways for lasting change. Listeners will discover practical tips on how to celebrate their achievements, no matter how small, and the significance of accountability in achieving financial goals. From automating savings to embracing a mindset of continuous improvement, this episode is packed with insights that will inspire you to take charge of your financial future. Tune in and learn how to make 2025 your most successful year yet! Listen here: https://apple.co/4cuMQEI Watch here: https://bit.ly/3PtuERo

In this episode of Stuff About Money They Didn't Teach You in School, host Erik Garcia, CFP®, teams up with Brenton Harrison, the host of the New Money, New Problems podcast, to discuss the most common financial mistakes clients make. Recorded live at Osaic's annual Connected conference in Orlando, they explore the emotional factors that influence poor investment decisions, the critical differences between risk tolerance and risk capacity, and the myths surrounding passive income. Erik and Brenton share real-world examples and insights from their practices as financial advisors, highlighting how emotions like fear and greed can derail sound financial planning. They stress the importance of defining financial purpose and aligning investment strategies with personal goals. Tune in for actionable tips and a deeper understanding of how to make informed financial decisions for a more secure future. Listen here: https://apple.co/4cuMQEI

In this episode, Erik Garcia, CFP®, and host of the Stuff About Money podcast, continues his conversation with John Hupalo from My College Corner, exploring the complex world of student loans. Building on their previous discussion about the FAFSA form, they cover the various types of loans available to students, including federal, private, and state-based options. John shares valuable insights on responsible borrowing, the differences between subsidized and unsubsidized loans, and how parents can navigate the financial landscape to support their children's education. Join them as they unpack essential questions surrounding student loans, such as what to consider when comparing offers, the impact of cosigners, and effective repayment strategies. This episode aims to empower parents and students with the knowledge they need to make informed decisions about financing college, ensuring a brighter financial future for everyone involved. Listen here: https://apple.co/4cuMQEI Watch here: https://bit.ly/3Zv7jUh