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Ryan was proud. He had just bought a stock, and he wanted me to be impressed. He didn’t know much about the company, but he was sure it would make lots of money. I suspect it was really about the fun of having something to talk about.

I suggested an S&P 500 index fund. He nodded politely, and I haven’t heard from him since.

In this episode, I use Ryan’s story to talk about teaching money to young people. I explain why telling them “don’t” doesn’t work, and what to do instead. It’s a simple two-bucket approach, plus three questions that let a young person find the holes in their own thinking.

If you have a child or grandchild, or you were once a young person who bought a stock because it was exciting, this one is for you.

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You don’t spend what your investments earn. You spend what’s left after the IRS takes its share.

In this episode, I walk through the tax problem most investors never think about until April. I explain why waiting a few extra weeks to sell can save real money, how you can owe tax on a fund you never sold, and what to do with your losses. Then I get to retirement, where Social Security and required withdrawals can raise your tax bill in ways most people don’t expect.

Tax rules change, so check the numbers before you act. The principles last.

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Where do you put your retirement money: Traditional IRA, Roth IRA, 401(k), or something else? Most people get stuck on this and do nothing, which is the most expensive choice of all.

In this episode, I explain why the order matters more than the account. I start with the one deal no investment can beat, the employer match, then walk through the Traditional versus Roth decision (it’s a tax bet), when an IRA beats your 401(k), and the accounts you may not know about, including the SEP-IRA, Solo 401(k), 403(b), and the HSA. I also cover three mistakes that cost people more than picking the wrong account.

You don’t need to be clever. You just need to start.

Have a question or a topic you’d like me to cover? Leave me a message in Fan Mail.