In this episode of the Personal Finance Club Show, Jeremy and Jenn kick off the episode with some back-to-school banter about supply budgets before jumping into "Scroll Patrol" to break down viral financial advice. Next, they take a deep dive into the "Hot Topics" segment to analyze NYC’s proposed wealth tax on non-primary residences. Jeremy walks through how tax structures historically favor the ultra-wealthy, highlighting real-world math on wealth inequality where the top 1% holds 35% of all household wealth while the bottom 50% shares just 2.5%.

In "Can I Ask A Dumb One?", the hosts answer a video question from Shaun, a high school teacher aiming for a massive 40-50% down payment to keep his mortgage payment manageable. They break down the 20% down payment baseline to avoid PMI, outline why total housing costs should stay under 30% of income, and give listeners permission to rent rather than stretch themselves house-poor. Finally, in "Jeremy Had Time Today," they review recent feedback on Threads, closing out with their golden rule: live below your means and invest early and often.

Helpful links:

• Ramit’s NYC Wealth Tax post: https://www.instagram.com/reels/DbbpVFVSKBm/

• Scroll Patrol: https://www.tiktok.com/@lysazal/video/7668384518897667341

• Ask a question: https://personalfinanceclub.com/ask/

• Flat-Fee Financial Advisors: https://hellonectarine.com/

• One hour learn to invest course (free): https://personalfinanceclub.com/start-here/