Personal finance can be a dry topic. But Sarah and I both really love listening to the How to Money podcast, hosted by Joel Larsgaard and Matt Altmix. These two Atlanta-based best buddies talk money, while drinking craft beer, twice a week on their iHeartRadio podcast. I was a guest last spring, and so I was excited to have these two working dads come on Best of Both Worlds.
They talked about how they met, their money philosophy (you can save for the future while enjoying the present — hence the craft beers), and their various gigs. Both have main jobs — radio production (Joel) and a photography business (Matt) — and then side gigs including rental properties and (of course) the podcast. Joel and his wife have three kids, Matt and his wife have four, and these two friends’ infant sons were born two days apart this fall! Talk about doing everything together.
We discussed their schedules — the podcast is recorded as a “split shift” activity! — and how they arrived at their family set-ups. One of the reasons Joel became interested in finance is that he had seen his parents go through rough financial times. His mom had wanted to stay home with her kids, but hadn’t been able to, so to Joel, this was always a goal — that his wife would have a choice in the matter. He noted that since he worked in radio, not known for lofty salaries, this really got him thinking about other ways to generate income. Hence the growth of the rental property empire.
In the personal finance community, there’s a lot of emphasis on achieving “financial independence” (the point where income from investments can cover your living expenses, so you don’t have to work) and early retirement. Having lots of kids (as Joel and Matt have done), having stay-at-home spouses, and prioritizing spending time with your family (as opposed to taking second jobs requiring a lot of weekend/evening work) can all delay that. So we talked about their philosophy of needing to live the life you want while you work for your financial goals.
And finally, we talk about what to teach your kids about money — and what steps Joel and Matt are taking to help their kids make wise decisions there.
This was a really fun episode (we chatted for a while before and after too, but we couldn’t do a 2-hour podcast!) Please give it a listen, and be sure to check out the How to Money podcast as well.