What Are Your Thoughts - Ep. 2



Here are the notes on the topics discussed:


1. Dietbet - Getting paid to lose weight.


You literally pay money into a pot of money and "bet" that you can lose a certain percentage of your body weight within the contest's duration. For instance, below is a photo of a contest where you put $35 into the pot. There are over 6,000 people that did this. The total pot is over $180,000.

If you lose 4% of your body weight between May 24 - Jun 24, you get your $35 dollars back, PLUS you share in the winnings and split the money of the people that put the $35 in but didn't lose the weight. It's simple - you lose the weight, you probably get $35 plus an extra $20-$30. If you don't lose the weight, you forfeit your $35 buy-in. What we like: it holds people accountable because they have skin in the game. What we DON'T like: it doesn't necessarily build long term habits. What we would like to see: incentives in the financial world to save money. Contests for people that want to save X% of their income are then rewarded if they accomplish the goal.


2. The best way to start investing (or if you're a DIY investor)


It's frustrating for to see people that aren't sure how to start investing. Here are a couple of our favorite places to get started or to be a DIY-er:


Acorns (disclaimer: I use this platform):


Basically, they set up an investment account for you and invest "round-ups" into a low-cost portfolio. You buy something for $1.25, and they automatically invest $0.75 for a "total purchase" of $2. It's out of sight and out of mind.


Betterment (I also use this for my personal accounts as well as clients' accounts):


Super simple. You can set up savings of any amount and anytime throughout the month. They pick portfolios of low-cost investments so the investors doesn't even have to think about anything except savings.


3. Using a standard Gmail address as a business email


If you see a person representing themselves as a financial professional and they use a non-business Gmail, run fast. Come on. What a joke.


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Lifepoint planning, doug Oosterhart, cfp near me, financial planner near me, financial planner, financial advisor near me, financial advisor, fee only, fee only financial planner, fee only financial advisor, retirement planning, retirement planner, fiduciary financial advisor, fiduciary financial planner, certified financial planner near me, zoe financial, zoe financial planner, zoe financial advisor
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