Every week, BudgetDog Academy students bring their most pressing financial questions to an open live Q&A call with Brennan Schlagbaum and his team. Brennan is a licensed CPA who paid off $304,000 in debt and built a seven-figure net worth before 30. The questions that surface on these calls reflect what real people navigating real financial decisions actually need to know.
Below is a breakdown of the topics covered in a recent session — and why each one matters.
Saving for Real Estate Deals: Cash Tranches and SPAXX
How should you hold cash you are accumulating for a real estate deal?
Students asked about using SPAXX — Fidelity’s Government Money Market Fund — as a place to park cash earmarked for future real estate investments. SPAXX offers liquidity alongside a yield that typically outpaces a standard savings account. For cash tranches set aside for specific deals, money market funds provide a practical middle ground between earning nothing and locking money into something less accessible.
One important clarification also surfaced: SPAXX is not FDIC insured in the traditional sense. However, it invests exclusively in government securities, which carries its own form of implicit federal backing. Students learned the distinction matters when evaluating risk tolerance for funds they will need to deploy on a timeline.
Short-Term CDs Versus Alternatives
The call addressed when a short-term CD makes sense relative to alternatives like high-yield savings accounts or money market funds. The answer depends primarily on your timeline and your need for liquidity. CDs lock your money for a defined term in exchange for a guaranteed rate. If you know you will not need the funds before the maturity date, the rate may justify the trade-off. If your timeline is uncertain, a money market fund or high-yield savings account preserves your flexibility.
Participating in Private Deals
Students asked about how to evaluate and participate in private investment deals — a topic that carries real complexity. Private deals often require accredited investor status, carry longer lock-up periods, offer less transparency than public markets, and involve legal documentation that warrants careful review. The guidance from the team emphasized due diligence, understanding your liquidity needs, and ensuring private deal exposure fits within a diversified portfolio rather than replacing it.
Aggressive CPAs and Tax Positions
What is the line between legitimate tax strategy and an overly aggressive position?
This question generated a direct answer. Not all CPAs operate with the same risk tolerance or ethical standard. A tax position that saves money in the short term can create significant exposure in an audit. Students learned to ask specific questions when evaluating a CPA’s recommendations — specifically whether a position would survive IRS scrutiny and what documentation exists to support it. Working with a licensed CPA on your financial plan who understands both the strategy and the risk is essential.
SEP IRA Rollovers and Fidelity HSA Benefits
Students with existing SEP IRA balances asked about rollover options and timing. The team walked through when rolling a SEP IRA into a traditional IRA or other qualified account makes sense — particularly for individuals whose business structure has changed or who want to simplify their retirement account picture.
On the HSA front, students discussed the specific advantages of holding an HSA at Fidelity, including no account fees, strong investment options, and no minimum balance requirement to invest. For anyone using an HSA as a long-term investment vehicle rather than a medical spending account, the platform choice matters.
Trump Accounts Versus 529s for Kids
A timely question addressed the comparison between recently discussed “Trump accounts” and traditional 529 education savings plans. The team provided context on what is currently known about each, including the tax treatment, flexibility, and intended use cases. The guidance was clear: 529 plans have a long track record, defined rules, and meaningful tax advantages that are available right now. New account types require legislation and implementation timelines before they can be practically evaluated.
Life Insurance Coverage Amounts and IUL Policies
Students asked how to determine the right amount of life insurance coverage — a question without a single universal answer. The team walked through the core factors: income replacement, outstanding debt, dependents, and the time horizon until financial independence. Generally, term life insurance in a multiple of ten to twelve times annual income provides a useful starting point for most households.
The call also addressed indexed universal life policies specifically. IULs are complex products that combine insurance with a cash value component tied to a market index. The team’s guidance was direct: for most people in the wealth-building phase, term insurance plus separate investment accounts is a more transparent and cost-effective structure. IULs may have a place in specific advanced planning scenarios, but they are frequently oversold.
Gifting From a Parent Brokerage Account and HoneyBook for Invoicing
The call also touched on the mechanics of gifting appreciated securities from a parent’s brokerage account to a child — including the annual gift tax exclusion and the step-up in basis considerations. Additionally, students running their own businesses asked about HoneyBook for invoicing and how it integrates with their overall business financial picture.
The Value of Weekly Access to a Licensed CPA
The range of topics covered in a single Q&A session reflects the breadth of what BudgetDog Academy students are working through. Real estate, retirement accounts, tax strategy, insurance, business tools, children’s savings accounts — these are not abstract topics. They are active decisions that affect real outcomes.
Having access to a licensed CPA and a knowledgeable team every week — with the ability to ask specific questions about your specific situation — is the kind of resource that most people do not have. That access is one of the core reasons BudgetDog Academy students make progress at the pace they do.