Preparing for a Recession: Our Family’s 5 Step Financial Plan
A recession may be headed our way. How can we prepare? I'm walking through our family's 5 step financial plan to prepare for a recession.
Second, we’re back with our Mortgage Free Family segment! This month we’re featuring Sandra Park from Texas. She’s going to share how she paid off her mortgage in his 40s and how it allowed her more cash flow and the ability to help her son pay for college.
Last, we're sharing the Good Word once again. My son Calvin and I are sharing the latest World Happiness Report, how the United States ranks, and how service to others matters.
EPISODE RESOURCES:
Sponsors + Partners + Deals
Sandra Park: https://engineerherpath.com
Good Word Story - CNBC: https://www.cnbc.com/2025/03/19/world-happiness-report-2025-finland-is-the-happiest-country.html
CHAPTERS
00:00 – Intro
01:50 – Step 1: Shore Up Your Emergency Fund
04:35 – Step 2: Continue Investing According to Your Plan
05:50 – Step 3: Reduce Expenses, Not Your Happiness
11:30 – Step 4: Earn More Without Burning Out
13:55 – Step 5: Be Generous Where It's Needed
16:40 – Mortgage-Free Family: Interview with Sandra Park
17:45 – Sandra's Mortgage-Free Journey
20:00 – Budgeting, Downsizing, and Mindset Shifts
29:00 – Post-Mortgage Life and Financial Freedom
32:50 – Generational Wealth and Lessons for the Next Generation
38:00 – Good News Segment with Calvin Hill
46:35 – Shoutout of the Month
MKM RESOURCES:
MKM Coaching: Want 1-on-1 support with your family finance journey? Book a time with me today.
Make My Kid a Millionaire Course: Want to build generational wealth and happiness for your kid? Learn more about my course!
Coast FIRE Calculator: A free calculator to help you find out when you can slow down or stop investing for retirement.
Mortgage Payoff Calculator: A free calculator to help you see how fast you can become mortgage free.
YouTube: Subscribe for free to watch videos of these episodes and interviews.
RECOMMENDED RESOURCES (SPONSORS AND AFFILIATES):
Monarch Money - Best Budget App for Families & Couples
Empower - Free Portfolio Tracker
Crew - HYSA Banking Built for Families - Get an Extra 0.5% APY with my partner link
Ethos - Affordable Term Life Insurance
Trust & Will - Convenient Estate Planning
HOW WE MAKE MONEY + DISCLAIMER:
This show may contain affiliate links or links from our advertisers where we earn a commission, direct payment or products.
Opinions are the creators alone.
Information shared on this podcast is for entertainment purposes only and should not be considered as professional advice.
Marriage Kids and Money (www.marriagekidsandmoney.com) is a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for sites to earn advertising fees by advertising and linking to amazon.com.
CREDITS:
Podcast Artwork: Liz Theresa
Editor: Johnny Sohl
Podcast Support: Nev Maraj
Learn more about your ad choices. Visit megaphone.fm/adchoices
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53:10
True Wealth Is More Than Money | Dr. Daniel Crosby
Andy Hill sits down with Dr. Daniel Crosby—renowned psychologist, behavioral finance expert, and author of Soul of Wealth—to explore the true meaning of wealth beyond money.
Dr. Crosby breaks down why financial success alone won’t bring happiness and how our beliefs, relationships, and personal growth play a crucial role in our well-being. He shares fascinating insights on why some of the wealthiest people still feel unfulfilled, the psychological traps we fall into when chasing money, and practical ways to balance financial goals with a meaningful life.
If you’re striving for financial success but don’t want to lose sight of what truly matters, this conversation is a must-listen.
Listen now to redefine your wealth and purpose!
#Wealth #DrDanielCrosby #MoneyMindset #FinancialWellness
RESOURCES:
Sponsors + Partners + Deals
The Soul of Wealth (book): https://amzn.to/3FcQh6K (affiliate)
EPISODE CHAPTERS:
00:00 – Introduction to the Episode
01:02 – Why Do We Believe Money Will Make Us Happy?
03:01 – How Money Can Buy Happiness (But Only to a Point)
07:07 – Dr. Daniel Crosby’s Personal Struggle with Money vs. Meaning
08:40 – The Five Pillars of Happiness and Where Money Fits In
11:49 – How to Find Balance Between Wealth and Purpose
12:14 – The Three B’s of Meaning: Believing, Belonging, and Becoming
17:41 – Teaching Kids About Wealth and Meaning
20:58 – The Reality of Generational Wealth
24:19 – One Actionable Step to Prioritize Meaning Alongside Wealth
25:08 – Where to Find Dr. Daniel Crosby and Soul of Wealth
GUEST BIO - Dr. Daniel Crosby:
Dr. Daniel Crosby is a psychologist and behavioral finance expert who helps organizations understand the intersection of mind and markets. Dr. Crosby's first book, Personal Benchmark: Integrating Behavioral Finance and Investment Management, was a New York Times bestseller.
His second book, The Laws of Wealth, was named the best investment book of 2017 by the Axiom Business Book Awards and has been translated into 14 languages. His third book, The Behavioral Investor, was Axiom's best investment book of 2019 and is a comprehensive look at the neurology, physiology and psychology of sound financial decision-making.
His latest book, The Soul of Wealth, is an exploration of money and meaning. When he's not decoding market psychology, Daniel is a father of 3, a fanatical follower of the St. Louis Cardinals, an explorer of the American South, and an amateur hot sauce chef.
MKM RESOURCES:
MKM Coaching: Want 1-on-1 support with your family finance journey? Book a time with me today.
Make My Kid a Millionaire Course: Want to build generational wealth and happiness for your kid? Learn more about my course!
Coast FIRE Calculator: A free calculator to help you find out when you can slow down or stop investing for retirement.
Mortgage Payoff Calculator: A free calculator to help you see how fast you can become mortgage free.
YouTube: Subscribe for free to watch videos of these episodes and interviews.
RECOMMENDED RESOURCES (SPONSORS AND AFFILIATES):
Monarch Money - Best Budget App for Families & Couples
Empower - Free Portfolio Tracker
Crew - HYSA Banking Built for Families - Get an Extra 0.5% APY with my partner link
Ethos - Affordable Term Life Insurance
Trust & Will - Convenient Estate Planning
HOW WE MAKE MONEY + DISCLAIMER:
This show may contain affiliate links or links from our advertisers where we earn a commission, direct payment or products.
Opinions are the creators alone.
Information shared on this podcast is for entertainment purposes only and should not be considered as professional advice.
Marriage Kids and Money (www.marriagekidsandmoney.com) is a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for sites to earn advertising fees by advertising and linking to amazon.com.
CREDITS:
Podcast Artwork: Liz Theresa
Editor: Johnny Sohl
Podcast Support: Nev Maraj
Learn more about your ad choices. Visit megaphone.fm/adchoices
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32:58
Retirement Is Now Easier - Bye 4% Rule, Hello 5% Rule | Bill Bengen
Can you really retire comfortably with a 5% withdrawal rate? Financial researcher and author Bill Bengen—the creator of the legendary 4% rule—joins us to share why his latest research shows that 5% is the new 4%. In this interview, Bill explains how his thinking has evolved, what today’s retirees should know, and how you can plan smarter for a fulfilling, financially free retirement.
RESOURCES:
Sponsors + Partners + Deals
A Richer Retirement (book): https://amzn.to/4iWzaVJ (affiliate)
CHAPTERS
00:00 – Intro – Bill Bengen
01:53 – What is the 4% rule?
04:01 – The rise of the 4% rule
05:17 – Evolving to the 5% rule
06:59 – Over-saving and regret
08:45 – Advice for young savers
10:31 – Thoughts on the 8% rule
12:34 – Portfolio allocation in retirement
13:55 – Downsides of 3% withdrawal rate
14:28 – Bill's personal withdrawal strategy
15:55 – Natural increase in withdrawal rate
17:38 – How to take your foot off the gas
19:16 – Long-term investing advice
20:35 – New book details
22:22 – Andy’s 3 takeaways from the conversation
26:52 – Credits and closing quote
MKM RESOURCES:
MKM Coaching: Want 1-on-1 support with your family finance journey? Book a time with me today.
Make My Kid a Millionaire Course: Want to build generational wealth and happiness for your kid? Learn more about my course!
Coast FIRE Calculator: A free calculator to help you find out when you can slow down or stop investing for retirement.
Mortgage Payoff Calculator: A free calculator to help you see how fast you can become mortgage free.
YouTube: Subscribe for free to watch videos of these episodes and interviews.
RECOMMENDED RESOURCES (SPONSORS AND AFFILIATES):
Monarch Money - Best Budget App for Families & Couples
Empower - Free Portfolio Tracker
Crew - HYSA Banking Built for Families - Get an Extra 0.5% APY with my partner link
Ethos - Affordable Term Life Insurance
Trust & Will - Convenient Estate Planning
HOW WE MAKE MONEY + DISCLAIMER:
This show may contain affiliate links or links from our advertisers where we earn a commission, direct payment or products.
Opinions are the creators alone.
Information shared on this podcast is for entertainment purposes only and should not be considered as professional advice.
Marriage Kids and Money (www.marriagekidsandmoney.com) is a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for sites to earn advertising fees by advertising and linking to amazon.com.
CREDITS:
Podcast Artwork: Kayli Groves
Editor: Johnny Sohl
Podcast Support: Nev Maraj
Learn more about your ad choices. Visit megaphone.fm/adchoices
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31:36
Reclaim Your Life From Work | Simone Stolzoff (BEST OF MKM)
In this episode, we sit down with Simone Stolzoff, author of The Good Enough Job, to explore how modern work culture has taken over our identities—and how we can break free. This Best of MKM episode revisits one of our most powerful conversations about redefining success, setting boundaries, and reclaiming our time. If you're looking to escape the hustle mentality and build a more balanced life, this one’s a must-listen!
RESOURCES:
Sponsors + Partners + Deals
CHAPTERS
00:00 – Introduction: More Than Your Job
01:10 – Meet Simone Stolzoff & The Premise of The Good Enough Job
02:20 – Workism and Our Cultural Identity
04:30 – The Historical Shift in Work's Role
06:00 – The Risks of Overidentifying with Work
08:20 – Story of Kay He: The Wall Street Banker Burnout
11:00 – Simone’s Personal Journey with Career Identity
13:40 – What Makes a Job 'Good Enough'?
15:40 – Identity Diversification: The Key to Resilience
18:30 – Practical Advice to Reclaim Life from Work
20:45 – Where to Find Simone & The Good Enough Job
21:15 – Closing Thoughts & Dalai Lama Quote
MKM RESOURCES:
MKM Coaching: Want 1-on-1 support with your family finance journey? Book a time with me today.
Make My Kid a Millionaire Course: Want to build generational wealth and happiness for your kid? Learn more about my course!
Coast FIRE Calculator: A free calculator to help you find out when you can slow down or stop investing for retirement.
Mortgage Payoff Calculator: A free calculator to help you see how fast you can become mortgage free.
YouTube: Subscribe for free to watch videos of these episodes and interviews.
RECOMMENDED RESOURCES (SPONSORS AND AFFILIATES):
Monarch Money - Best Budget App for Families & Couples
Empower - Free Portfolio Tracker
Crew - HYSA Banking Built for Families - Get an Extra 0.5% APY with my partner link
Ethos - Affordable Term Life Insurance
Trust & Will - Convenient Estate Planning
HOW WE MAKE MONEY + DISCLAIMER:
This show may contain affiliate links or links from our advertisers where we earn a commission, direct payment or products. Opinions are the creators alone.
Information shared on this podcast is for entertainment purposes only and should not be considered as professional advice.
Marriage Kids and Money (www.marriagekidsandmoney.com) is a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for sites to earn advertising fees by advertising and linking to amazon.com.
CREDITS:
Podcast Artwork: Liz Theresa
Editor: Johnny Sohl
Podcast Support: Nev Maraj
Learn more about your ad choices. Visit megaphone.fm/adchoices
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26:24
Thriving Financially After Divorce: Kathryn Hanna and Chris Luger (BEST OF MKM)
In this Best of MKM episode, Andy Hill shares inspiring conversations with Kathryn Hanna and Chris Luger, two individuals who found financial freedom after divorce. Kathryn achieved Coast FIRE in her late 30s, while Chris became a mortgage-free millionaire. They discuss navigating finances post-divorce, aligning money with personal values, and building a brighter financial future. Whether you're rebuilding or planning ahead, this episode offers real stories and practical advice for thriving financially after a major life change like divorce.
RESOURCES:
Sponsors + Partners + Deals
CHAPTERS
00:00 – Intro
02:20 – Kathryn Hanna Coast FIRE FIve
05:00 – How She Got Started
07:40 – Divorce & Coast Fire
09:00 – Investing Strategy
11:30 – Flexibility After Divorce
13:30 – Financial Independence in Marriage
14:50 – Single Mom Budgeting
16:45 – What’s Next
18:30 – One Step to Start
21:00 – Connect with Kathryn
22:25 – Chris Luger Introduction
23:00 – Mortgage-Free Three
24:15 – Why Go Mortgage-Free
26:30 – Divorce Sparked Change
30:00 – Real Estate Growth
32:15 – Retirement Contributions
34:00 – Is Paying Off Smart?
36:30 – Step One: Track Spending
38:00 – Connect with Chris
39:00 – Final Thoughts
MKM RESOURCES:
MKM Coaching: Want 1-on-1 support with your family finance journey? Book a time with me today.
Make My Kid a Millionaire Course: Want to build generational wealth and happiness for your kid? Learn more about my course!
Coast FIRE Calculator: A free calculator to help you find out when you can slow down or stop investing for retirement.
Mortgage Payoff Calculator: A free calculator to help you see how fast you can become mortgage free.
YouTube: Subscribe for free to watch videos of these episodes and interviews.
RECOMMENDED RESOURCES (SPONSORS AND AFFILIATES):
Monarch Money - Best Budget App for Families & Couples
Empower - Free Portfolio Tracker
Crew - HYSA Banking Built for Families - Get an Extra 0.5% APY with my partner link
Ethos - Affordable Term Life Insurance
Trust & Will - Convenient Estate Planning
HOW WE MAKE MONEY + DISCLAIMER:
This show may contain affiliate links or links from our advertisers where we earn a commission, direct payment or products.
Opinions are the creators alone.
Information shared on this podcast is for entertainment purposes only and should not be considered as professional advice.
Marriage Kids and Money (www.marriagekidsandmoney.com) is a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for sites to earn advertising fees by advertising and linking to amazon.com.
CREDITS:
Podcast Artwork: Liz Theresa
Editor: Johnny Sohl
Podcast Support: Nev Maraj
Learn more about your ad choices. Visit megaphone.fm/adchoices
About Marriage Kids and Money: Personal Finance for Families
The Marriage Kids and Money Podcast will strengthen your family tree and help you live financially free. We work to help you build the life of your dreams!
Each week, award-winning Family Finance Coach Andy Hill shares wealth-building tips that help parents and couples to design their ideal lifestyle. Learn how to get on track with your finances, work toward financial freedom, and even build generational wealth.
Knowing community makes for a happier future, Andy interviews millionaire parents, couples who have reached financial independence, or other money pros so listeners get a well-rounded perspective.
With over 400 episodes and counting, you are sure to find an episode to help you. Show topics include strategies on becoming debt free, how to invest simply, setting your kids up for success, and living more generously.
Don’t just take our word for it! Marriage Kids and Money has been hailed as a top podcast by US News and World Report.
Join the family wealth-building conversation by listening to our top-rated personal finance podcast today!
Listen to Marriage Kids and Money: Personal Finance for Families, The Diary Of A CEO with Steven Bartlett and many other podcasts from around the world with the radio.net app