401ks, FOREX, Cash, Rentals, and Leveraged Buyouts: Five Awesome Questions

Summary: If you want to know about 401ks, cash, rentals, and leveraged buyouts, we’re covering it with five awesome questions from you.<br> We have awesome listeners, and they send in great questions so from time to time we like to do a five questions episode.<br> Question One<br> Just found you guys a couple of weeks ago and have listened to several episodes. I am trying to increase my personal financial knowledge, and I have enjoyed your podcasts. Maybe my question will  make it onto a future five awesome questions episode.<br> My employer offers a 401k, and we have the option of either putting it into a Fidelity or TIAA account. Initially, I thought I would go 50/50 with each. However, in my mind, it seems that having it all go to one account will be better because there is a larger lump to gain interest on. However, if both companies perform the same, would the 50/50 strategy yield the same amount of gains over the long term?<br> Thanks,<br><br> Jason from Utah<br> We believe in keeping your finances as simple as possible and having two 401ks makes things more complicated than they should be. Take a deep dive into both funds. One may have a better selection of investments than another, but often you’ll see a lot of crossover.<br> The main decider should be the fees. Investment fees can eat up a <a href="https://www.listenmoneymatters.com/the-scariest-1-the-impact-of-fees-in-the-long-term/">huge chunk</a> of your wealth over time. <a href="https://www.listenmoneymatters.com/go/personal-capital-fee-analyzer/">Personal Capital</a> can show you exactly how much you’re paying in fees and the long-term implications.<br> Question Two<br> Hey guys!!! I’m a new listener to the show, and honestly, I love the content that I hear on every episode.<br> I met an individual who is involved in FOREX trading. He gave me a lengthy elevator speech about how it works and how he makes X-amount of money doing it, and I should come to his event that he hosts to further explain Forex trading.<br> Do you have any suggestions about this particular investment? Is it worth the time for me to go tomorrow or should I just skip it and do more research on how I can reduce my credit card debt?<br> I searched on your website and didn’t see this so maybe you guys could cover this on your show?<br> If not, it’s cool. Keep up the great work and look forward to hearing what you guys are drinking next!!<br> P.S- if I want to start looking into drinking beer, where would be a good place to start? Also, if I want to look into HEALTHY beer, do you have any suggestions?<br> Babatunde Shekoni<br> <a href="https://www.listenmoneymatters.com/how-to-pay-off-credit-card-debt/">Paying off credit card debt</a> should always be your priority. There is no investment that is going to make up in returns what you’re paying on credit card interest.<br> Anyone who invites you to a seminar is either a sucker or a scam artist. Do not attend!<br> FOREX means foreign exchange. You can buy one currency and sell another. This is the opposite of our set it and forget it investing strategy and almost a sure way to lose money.<br> If you’re new to beer, go to a brewery and order a flight. You’ll get several sample sized glasses of different beers so you can try each and start to get a sense of what you like. If by healthy you mean won’t get you drunk quickly, look for a low ABV beer. <a href="https://foundersbrewing.com/our-beer/all-day-ipa/">Founders All Day IPA</a> is just 4.7% alcohol by volume.<br> If by healthy you mean a gluten-free beer, try <a href="https://omissionbeer.com/">Omission.</a> All their beers are gluten-free.<br> Question Three<br> Hi!<br> My questions lie in the fact that my business is teaching yoga and most of my income comes in the form of cash. When you look at my income on paper at tax time, it looks as if I am very very poor.