The 30th episode of the ‘Heart of Money’ podcast, hosted by Austin Bl and Bob Wessler, centered on the important topic of saving money for college. They shared personal experiences and advice about college savings plans, underscoring the benefits and limitations thereof. Bob detailed his approach for managing his children’s college savings, emphasizing advantages like educational discounts and scholarships. Austin, a novice in the process, shared his utilization of the post-tax 529 savings plan that offers tax-free growth when used for education expenses. The hosts exhaustively discussed two main avenues for funding higher education – the Education Savings Account (ESA) and the 529 plan, pointing out their unique features and limitations. The listeners were urged to continue researching and consulting with professionals, given the continuous evolution of these plans. The importance of seeking all available scholarships, regardless of eligibility criteria, was also stressed. The podcast concluded by underscoring the significance of early investments, consistency, planning, and professional advice in making higher education financially manageable.

In the 28th episode of the “Heart of Money” podcast, host Austin Blog and guest Bob Wessler explored the risks involved in debt and investment. They discussed factors that determine whether one option might be less risky than the other, admitting there’s no definitive answer. The conversation examined debt versus investment from a long-term perspective, such as when one purchases real estate or makes retirement plans. The hosts underlined the importance of making considered decisions guided by understanding the market, emotional, logical, and economical parts, and avoiding impulse purchases. They warned about the risks in both debt and investment, advising listeners to seek wise counsel when making significant financial decisions. The episode ended with a call to listeners to engage in social media discussions, rate the podcast, and look forward to the next episode on personal finance learning.

Episode 26 of the Heart of Money podcast, hosted by Austin Black and Bob Wessler, completes a series on the successful financial habits of wealthy individuals. Topics include the misunderstood art of investing, which for wealthy people typically involves assets that grow in value rather than tangible goods. The hosts underline the role of financial education and patience in investing, citing the ‘set it and forget it’ practice that allows growth over time. They also point to the critical nature of consistent investing, regardless of market conditions. Wealthy individuals often invest in 401ks, Roth IRAs and mutual funds. Potential areas for investment include starting a business, real estate and collectible novelty items, although their value is dependent on what someone is willing to pay for them. The podcast emphasizes the importance of having financial advisors and maintaining a continuous, automatic investment approach.

In the 24th episode of the Heart of Money podcast, host Austin Black and guest Bob Wessler discussed the significance of adopting the strategies of the wealthy for improved financial management. They emphasized that replicating successful models is more effective than inventing unique approaches. The discussion marked the beginning of a two-part series on the top five habits of rich individuals, aimed at helping listeners to reach their financial goals. Key points of wealth generation included the importance of savings, delayed gratification, thoughtful credit card usage, and robust financial planning. They acknowledged that while these strategies may appear simple, their implementation requires discipline and time. Further complex strategies will be explored in subsequent discussions.