Your Money & Your Life Podcast
Donald Cash
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Financial and retirement planning guidance from Certified Financial Planner Donald Cash in Red Bank, NJ. Truly understanding what's happening inside your portfolio is so important to achieving retirement success.
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Sep 7, 2023
Your Health Span vs Your Life Span
We are all familiar with the term life span and the concern inflation and social security changes may impact living a long life. Today, we are going to talk about “health span” and what we need to think about as we live longer, and hopefully healthier, in retirement.
Here’s some of what we discuss in this episode:
* The average lifespan is about 79 for women and 73 for men, which dropped for the first time in 25 years.
* What are the leading causes of death today compared to the year 1900.
* How your health span factors into planning and determining how much money you need.
* What we encourage our clients to do in order to maintain that health span.
Get in touch with Don and learn more: https://doncashpodcast.com/
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Aug 24, 2023
Social Security Cost Of Living Changes For 2024 – What Does That Mean For You?
In this episode, we’re taking a look at the new Social Security cost of living changes for 2024. Join Don and Marc as they decode the Consumer Price Index (CPI) and its impact on Social Security and retirement planning. They uncover the intricate world of CPI categories, from CPI-U to CPI-W, and how they determine Social Security cost of living adjustments.
Here are some questions we answer in this episode:
* What is the COLA in relation to Social Security benefits?
* How is the COLA calculated and what index is used?
* Why does the reported CPI increase sometimes feel inaccurate?
* What is the impact of different CPI indices on Social Security benefits?
Resources for this episode:
https://en.wikipedia.org/wiki/Consumer_price_index
https://www.bls.gov/cpi/factsheets/common-misconceptions-about-cpi.htm
https://www.ssa.gov/oact/cola/latestCOLA.html
https://www.bls.gov/opub/hom/cpi/presentation.htm
https://www.ssa.gov/oact/cola/colaseries.html
https://www.bls.gov/news.release/cpi.t05.htm
https://www.investopedia.com/terms/c/chain-linked-cpi.asp#:~:text=Chain%2DWeighted%20CPI%20Example&text=Smith%20buys%20two%20pounds%20of,has%20risen%20to%20%246%20%2F%20lb.
https://www.ssa.gov/policy/docs/policybriefs/pb2008-03.html
Get in touch with Don and learn more: https://doncashpodcast.com/
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Aug 10, 2023
Government Bonds Downgraded – What Does That Mean to Me?
On August 1, the Fitch Ratings agency downgraded the US debt from its top rating of AAA down a notch to AA+. This is the second time this has happened. Ironically, that was also in August but twelve years again 2011. At that time, the Standard and Poor’s downgraded US treasury debt from AAA to AA+.
So why is this happening now and what does it mean to us as we save for and in retirement?
Here’s some of what we discuss in this episode:
* Don will provide some background and a big picture view on what’s happening with these ratings.
* Why does this downgrade seem like it’s getting less of a reaction?
* Could we continue to slip even further with more downgrades in the future?
* The stock market’s response over the next decade was still very positive after the last downgrade.
* As an investor, what are the different lessons we can take from last time?
* What does the downgrade of 10 banks mean for me?
* Where do we go from here and what will Don be watching in the future?
Get in touch with Don and learn more: https://doncashpodcast.com/
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Jul 27, 2023
100th Episode Spectacular! Looking Back On Our Prior Shows
Welcome to our 100th episode of Your Money & Your Life! Today we’re taking a nostalgic look back at the past five years, from personal milestones to macro-economic events, such as the fluctuating real estate market and interest rates. We even rewind to some previous episodes, examining how our predictions on technology's role in investment strategies held up, and discussing the unforeseen impact of COVID-19 on our lives and finances.
Here’s some of what we discuss in this episode:
* Don and Marc reflect on the past five years + podcast episodes from the beginning of the show. (0:43)
* The podcast during COVID-19 + Don’s role as an advisor during that time. (8:26)
* The impact of inflation in 2023. (14:54)
* The slight easing of inflation + The Debt-To-GDP ratio. (18:43)
* The importance of following time-tested planning principles and not making emotional financial decisions. (23:26)
Get in touch with Don and learn more: https://doncashpodcast.com/
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Jul 6, 2023
Mailbag: Should I Sell The Family Farmland I Inherited? And More
We’re diving into the listener mailbag for today’s episode! We’ve received some excellent listener questions recently, and we’re going to dive into a few of them on today’s show. Doug asks where he should invest the money from his new raise. Sherry asks if she should lease or sell the family farmland that she inherited from her uncle. Tune in and see what you can learn from these listener questions!
Here’s some of what we discuss in this episode:
* Mailbag: I just got a raise, but now I make too much money to put into my Roth. Where should I invest my money now? (3:20)
* Mailbag: My daughter is getting married this year and I don’t want to pay a lot of taxes by withdrawing money from our retirement accounts to pay for the wedding. Any advice? (9:34)
* Mailbag: I inherited 100 acres of land from my uncle. I’m sentimentally attached, but should I just sell it? (16:28)
Get in touch with Don and learn more: https://doncashpodcast.com/
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Jun 22, 2023
Should I Move to Another State to Save Money on Taxes & Expenses?
Many retirees bounce around the idea of moving states in retirement with the goal of saving money on taxes and expenses. It makes sense on the surface but will it benefit you as much as you hoped?
Today we’ll dive into the numbers, talk through some of the costs that blindside people, and help you better understand what needs to be evaluated before you make the move.
Here’s some of what we discuss in this episode:
* The migration trend and what’s behind the move to different states. (2:20)
* Here are some of the advantages. (5:31)
* What you should consider if you’re approaching retirement and considering a move. (6:59)
* Costs that often blindside people. (13:15)
* A few more factors to pay attention to. (17:40)
* The 3 big taxes you need to assess before moving. (20:40)
Get in touch with Don and learn more: https://doncashpodcast.com/
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Jun 8, 2023
Artificial Intelligence: Should We Be Afraid?
Join Don and Marc as they dive into the fascinating world of artificial intelligence. Discover the potential risks, benefits, and the ever-expanding reach of AI across various industries. From AI-generated music and artwork to robot-advisors and facial recognition, AI is revolutionizing the way we interact with technology. In this episode, we’ll explore the origins of AI the blurred lines between reality and AI, and ultimately answer the question: should you be worried?
Artificial Intelligence or AI, which is something that we are constantly hearing about. We will dive into it and talk about the potential risks as well as the benefits and some land minds to avoid as consumers and also investors in this technology.
Here’s some of what we discuss in this episode:
* The idea of AI has been around for a long time, and this technology will only become more common. (3:36)
* The “technology turn” during COVID + Chat GPT. (10:41)
* AI should be used as a tool and not to replace people. (14:33)
* How video and voice technology is rapidly advancing. (18:38)
* What can we do to protect ourselves? (21:02)
* Being smart with your investing strategy. (24:11)
Resources mentioned on the show:
ChatGPT - https://openai.com/blog/chatgpt
Tom Cruise Video - https://www.youtube.com/shorts/l7FH_-GAlz8
Get in touch with Don and learn more: https://doncashpodcast.com/
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May 26, 2023
The U.S. Debt Ceiling Drama Continues
We’re back to discuss the ongoing battle over the debt ceiling in this episode. We’ll review recent federal budgets and expenses and compare these numbers to recent history. We’ll also dive into the impact of the COVID-19 relief spending, address some concerns about inflation, and share our thoughts about this situation as a whole.
Here’s some of what we discuss in this episode:
* What’s the recent debt ceiling update? (3:26)
* What’s driving the debates around this topic and what may occur in the next week. (5:35)
* U.S. spending since the pandemic. (7:28)
* Getting this spending back into check. (9:54)
* What is the "Fear Index" and how does it relate to all of this? (13:55)
* How people are spending money outside of Washington. (17:57)
Get in touch with Don and learn more: https://doncashpodcast.com/
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May 11, 2023
U.S. Debt Ceiling And Federal Reserve Rate Hikes- Insights For Investors
In today’s episode, we’re going to dive into the pressing issues of the U.S. debt ceiling and Federal Reserve rate hikes. We’ll begin by unraveling the concept of the federal debt ceiling, examining its history, and shedding light on the federal government's current and prospective spending plans. Ultimately, we’ll discuss what all the recent buzz on this topic might mean for investors and whether there is cause for alarm.
Here’s some of what we discuss in this episode:
* Should we be concerned about the debt ceiling conversations in America? (2:21)
* What exactly is the debt ceiling? (4:36)
* What happens if the debt ceiling isn’t raised? (7:42)
* Looking back at recent interest rate raises in comparison to today. (14:57)
* So, what should investors do? (18:00)
* What is the issue with higher bank rates? (20:50)
* History repeats itself and diversification is important. (22:05)
Get in touch with Don and learn more: https://doncashpodcast.com/
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Apr 27, 2023
What Is Reinvestment Risk?
Many of us have heard of typical investment risks, such as market risks, liquidity risks, credit risks, and concentration risks. But what is reinvestment risk? In today’s episode, we’ll explain what reinvestment risk is and how the fear of recent events might be driving this risk.
Here’s some of what we discuss in this episode:
* Don discusses the fees for credit transactions that are becoming more frequent. (2:56)
* What is reinvestment risk? (5:27)
* The two classes of CD and bond buyers right now. (13:26)
* How bonds should act as a stabilizer in a portfolio. (15:01)
* How rebalancing, patience, discipline and understanding play a huge part in a sound investment strategy. (18:53)
Get in touch with Don and learn more: https://doncashpodcast.com/
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Apr 6, 2023
The Taxman Cometh – 2023 Edition
What many people are starting to realize is that taxes in retirement might actually be more than they were when they were working. We’ve been taught our entire lives to defer taxes by contributing to an IRA and 401(k), but that ends up leaving retirees with more to pay down the road.
What’s important to know is that the taxman will cometh at some point, and it could be for more than you are paying today. Today we'll share some tax planning strategies that you should consider and point out a couple key areas in retirement where planning will be critical.
Here’s some of what we discuss in this episode:
* As we finish our taxes for 2022, what should people be looking at for 2023. (2:34)
* Where are the blinds spots for people in terms of taxes? (4:30)
* How will the government pay off the rising debt we’re facing. (8:05)
* One of the biggest strategies right now is utilizing a Roth. (12:20)
* An example of how longterm care and medical bills play into tax planning. (1…
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Mar 23, 2023
Bank Failures & Your Investment Planning – What’s Happening Now?
The biggest news in the financial world this month has been the failure of major banks like Silicon Valley Bank and Signature Bank. There didn’t seem to be any concerns about their stability even a few weeks ago, but things fell apart quickly.
So the obvious question is what happened and how will this impact me? In this episode, Don will provide a breakdown of what went wrong with SVB and how this might impact other banks across the country. Plus, we’ll touch on how this all relates to investing and retirement planning.
Here’s some of what we discuss in this episode:
* A high-level look at banking and investing. (4:14)
* What does the FDIC protect? (6:00)
* What exactly happened with SVB? (10:34)
* Should we worry that other banks have done something similar? (16:37)
* How does this all tie back into retirement planning? (17:51)
Get in touch with Don and learn more: https://doncashpodcast.com/
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Mar 9, 2023
What is ESG Investing? Don’t Get Fooled
This episode will help explain what ESG investing is and how it impacts your retirement planning. Plus, are these investments actually helping the environment and why is the government getting involved? Don Cash will sort out a lot of the facts on this topic so you’ll be more informed.
Here’s some of what we discuss in this episode:
* What is ESG investing and why we’re talking about this today? (3:00)
* Some background on how this began and where the money is being made. (5:33)
* The fees can be significantly different for these investments. (8:22)
* What classifies a company as an ESG company? (11:10)
* What is the government’s role in all of this? (13:48)
Get in touch with Don and learn more: https://doncashpodcast.com/
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Feb 23, 2023
Is Social Security Going Broke? Myths, Truths & Opportunities
What we want to do in this episode is make sense of what exactly is happening with Social Security and which concerns are legit and which ones might be overblown. This isn’t the first time Social Security has had to make adjustments since it was originally introduced in 1935, and we’ll take you through what has changed over the past nearly 90 years.
Here’s some of what we discuss in this episode:
* Historical background on where we got to where we are today with Social Security. (4:11)
* Here are the facts around Social Security right now. (7:57)
* Why do we keep hearing about bankruptcy and whether the benefits will be gone soon? (10:11)
* This isn’t the first time changes have been made to Social Security. (12:31)
* What changes could be considered in the near future? (16:49)
* Do you ever make too much money to qualify for Social Security? (23:12)
Additional Resources:
Proposed SS changes - https://www.ssa.gov/OACT/solvency/
The Social Security Trust fund -…
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Feb 2, 2023
Threats, Traps, and Tips for Tax Season
Tax season is officially here for 2023 and while many of us will slowly ease into it, now is the time to start thinking about what you need to accomplish over the next few months.
In this episode, Don is going to help you prepare for tax season by explaining the key documents that you’ll want to be on the lookout for, highlighting the financial planning conversations you need to be having with your advisor, and sharing a few tips for finding the right CPA.
Here’s some of what we discuss in this episode:
* A new tax deadline for 2023. (4:11)
* The most common forms you’ll need to be on the lookout for. (7:37)
* The top financial planning action points to be considering. (12:04)
* What type of CPA would be the best fit for you? (17:28)
* Be mindful of these two things when preparing taxes with a CPA. (20:17)
* The most common missed tax planning opportunities. (23:13)
Additional resources to help you with tax season:
Groundhog Day - https://www.cnn.com/2023/02/02/u…
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Jan 19, 2023
Landmines and Opportunities in SECURE Act 2.0
Another round of retirement changes are on the way after President Biden passed SECURE Act 2.0 into law on December 23rd. While we’ve been anticipating this legislation for a while, we didn’t know exactly what we be in the final bill.
Retirees and pre-retirees need to spend some time with their advisor to discuss what this legislation means, how it might impact you, and what planning opportunities this could open up.
Here’s some of what we discuss in this episode:
* The required minimum distribution age moved back again. (4:11)
* The complications with taxes surrounding Inherited IRAs still remain. (11:41)
* Significant changes to workplace plans (17:10)
* An update on the New Jersey ANCHOR program (21:45)
* Don’s overall opinion on SECURE Act 2.0. (27:57)
Get in touch with Don and learn more: https://doncashpodcast.com/
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Dec 21, 2022
2022 Year in Review
Market volatility became the norm in 2022. In this episode, we will be discussing the ups and downs of the last year, from volatility to celebrity news.
Here's some of what we discuss in this episode:
* Current inflation and the outlook for next year. (5:19)
* Examples of volatility throughout this last year. (14:47)
* Big events/drama that happened in 2022. (20:34)
Get additional financial information: https://doncashpodcast.com/episodes/
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Dec 8, 2022
Year End Planning (It’s Not Too Late)
We are heading toward Christmas and The New Year at lightning speed. We are only weeks away from 2023.
It looks like we came off Black Friday and Cyber Monday with lots of shoppers and over the past week we have had better-than-expected economic data, yet the stock market has dropped. What are we to make of that??
Right now, all of the pundits are trying to read the tea leaves (so to speak) about what is likely to happen at the next Federal Reserve Meeting this week.
Oddly enough, it seems like bad economic news – higher unemployment, weaker consumer spending, and home sales are good for the stock market. It means the Federal Reserve is likely to hit the brakes on rate increases.
A few things to keep in mind as we head into 2023.
The law pending in Washington to change the IRA rules yet again has not yet been signed into law. They are calling this The Secure Act 2.0, the changes are designed to do things like -
Expanded access to retirement plans at work. Additional investment…
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Nov 22, 2022
The FTX Scandal: The Difference Between Wisdom & Knowledge
Happy Thanksgiving!
We wish you all the blessings of the holiday as we spend time with family and friends and gather for the long Holiday weekend.
As we rapidly move From Thanksgiving into the Christmas season and New Year’s Day (I can’t believe it’s almost 2023), we want to talk about finishing strong as well as touch on the difference between knowledge and wisdom, the big FTX scandal, and how good thinking affects our planning decisions and helps us avoid disasters.
The FTX bankruptcy is a huge scandal. It comes from the Theranos health technology outrage earlier in the year.
It’s pretty complex but comes down to the fact that a lot of smart young people, mainly only in their late 20’s ran the company and many smart hedge funds and investors lost a lot of money. It’s a collapse that rivals Enron and Lehman brothers.
FTX was basically a cryptocurrency exchange that traded a variety of digital tokens like Bitcoin, Ethereum, Dogecoin, and many others. The entire house o…
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Nov 10, 2022
The Elections are Over! Now What?
The elections are over! (At least most of them are) Now what?
It seems like, over the past month, we have been bombarded with nasty political ads or commercials by Joe Namath, Jimmy JJ Walker, and Tom Selleck pitching Medicare plans. At least the political ads are over for now (except for Georgia). We just have to put up with the Medicare ads for the next month.
In this episode, we discuss the election results and the effects on our planning for the remainder of this year and into 2023. Can you believe it’s only 6 weeks away? It looks like the next two years will bring a solidly divided government. What will that mean to you and your family?
I’ll bet you didn’t know – Every year since 1950 after a midterm election, the stock market has gone up regardless of the party in power! Past performance is no guarantee of future performance (You knew I would say that). Of course, this year came with a very volatile market; interest rates, a war overseas, and soaring inflation, and it…
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Oct 20, 2022
ABC’s of Medicare
You’ve probably seen the commercials with the legendary quarterback, Joe Namath or Tom Selleck and William Shatner (Captain Kirk). They are selling Medicare Advantage plans letting us know that now, October 15th through December 7th is open enrollment season. So, what is a Medicare Advantage plan and should you get one?
On today’s show, we are going to discuss Medicare with expert Ray Martin. This will be our 2nd annual show with Ray. We will be covering the different types of plans, premiums, and tips you should be aware of as you reach age 65 and beyond.
Medicare is great for retirees but it can be confusing to navigate. Ray Martin joins us today, the author of The Nuts and Bolts of Medicare, to explain the basics of Medicare and open enrollment.
Signed into law in 1965, around 10,000 baby boomers join Medicare every day. Through the years Medicare has expanded into a comprehensive and successful medical plan. There are now multiple parts of Medicare including Medicare supplem…
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Sep 29, 2022
Weather the Storm and Don’t Lose Focus
Weather enthusiasts and retirement planning worlds collide… Each Fall we spend a lot of time watching and listening to the news and the Weather Channel getting reports of developing hurricanes and are treated to lots of updated graphics to bring us a refresher on how hurricanes work. So, let’s take the opportunity to see what we can learn about retirement planning from a discussion about hurricanes.
In this episode, we will talk about the volatility of the market. Are market dips something you should be wary of? What global events cause market changes? Let’s dive into some of the things that often make us lose focus as we invest for retirement.
Here’s some of what you’ll learn on this episode:
* Why you need to accept that the value of the stock market will drop at some point. (6:11)
* You must be careful not to be influenced by the wrong people. (10:44)
* Here are some things you should look out for over the next few months. (16:26)
Additional resources:
The “Yo…
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Sep 8, 2022
Inflation, Early Retirement, & Proposed Changes to Social Security
In a normal year, just one of these topics would be significant news for us to discuss, but 2022 is filled with headlines that impact retirement planning. On this episode, we’re going to provide an update on inflation and the indicators to be watching, share stats on the early retirement trend, and give you the truth on the latest proposed legislation that impacts Social Security.
Here’s some of what you’ll learn on this episode:
* What’s the latest on inflation? (3:31)
* Stats on the early retirement trends we’re seeing. (8:07)
* What other effects have we seen due to COVID? (9:16)
* The considerations you need to weigh for early retirement. (13:02)
* The details on the ‘You Earned It, You Keep It Act’ and taxes. (15:46)
* What’s the catch to this new Social Security legislation? (18:55)
* Phil’s big takeaway from this bill as it relates to retirement. (20:31)
Additional resources:
The “You Earned It, You Keep It Act” -
https://www.govtrack.us/…
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Aug 25, 2022
What the Inflation Reduction Act Means for Planning
Washington recently passed the Inflation Reduction Act, which on the surface appears to be aimed at solving the inflation problem. But there’s much more inside the bill, including a few different items that directly impacts financial planning. We’ll break down this new legislation on the podcast and highlight other laws that might be on the way.
Here’s some of what you’ll learn on this episode:
* Don’s initial thoughts on the Inflation Reduction Act and how it impacts individuals. (5:10)
* Why the SALT cap was being discussed a lot in New Jersey. (7:37)
* What we need to know about the SECURE Act part 2. (10:21)
* Required Minimum Distribution age pushing back even more? (15:37)
* How to calculate RMDs from inherited IRAs and personal accounts. (19:16)
Inflation Reduction Act resources –
https://www.ncoa.org/article/what-the-inflation-reduction-act-means-to-older-adults
https://www.morningstar.com/articles/1109390/the-inflation-reduction-acts-impact-on-retire…
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Aug 11, 2022
Lessons Learned: 40th Anniversary of the Historic Bull Run
For economic geeks like ourselves and those old enough to remember, this week will be seen as the anniversary of one of the greatest bull markets in history. It was on August 12, 1982, that the Dow Jones Industrial Average dropped to its low of 777 (lucky number) —almost precisely where the Index had closed in January 1964, more than 18 years earlier!
Here’s some of what you’ll learn on this episode:
* Human nature doesn’t change and we’re still prone to the same financial mistakes today that we were back then. (5:10)
* The issues the dealt with through the 60s and 70s seem remarkably similar to what we’re experiencing now. Guess what coming out of those tumultuous years? (7:49)
* Why proper diversification could have produced really good returns during The Lost Decade to start this century. (11:25)
* The major mistakes that we make when we’re near or in retirement. (16:40)
Visit us online: http://doncashpodcast.com
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Jul 21, 2022
Summer Heat and Economic Stress
There’s a heat wave spreading across the world right now, along with a lot of economic stress. On today’s episode, we’ll explore some expert opinions on our current bear market. Does Don agree or disagree with them?
Listen for these key points:
0:29 – Did you have a good summer trip?
1:25 – Don’s daughter is getting married!
2:42 – What we’re going to analyze today
4:53 – Demand for services are still good
6:50 – Value stocks over growth stocks
11:18 – We can’t time the market
14:53 – Be aware of emotional decisions
17:20 – Mailbag – Do I really need an advisor?
Get additional financial information: https://doncashpodcast.com/episodes/
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Jun 30, 2022
The Risk of Losing Financial Independence
Are we losing our financial independence to inflation, a possible recession, and longevity? On today’s episode, we’ll explore the various risks that can complicate your plan and your finances.
Listen for these key points:
0:28 – Happy 4th of July!
3:20 – Fear of running out of money
6:06 – Life expectancy
7:48 – Pushing your plan to 90+
8:35 – Dying too young, living too long
9:32 – Costs for long term care
10:30 – So, what do we do?
12:38 – Long-term care coverage
13:34 – What about savings?
15:31 – The Investment Answer
16:18 – Reach out to a professional
18:32 – Watch out for confirmation bias
Get additional financial information: https://doncashpodcast.com/episodes/
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Jun 16, 2022
Should We Be Worried? Inflation, Interest Rates and Bonds
With summer comes rising temperatures and this year, rising inflation! On today’s episode we’re going to discuss the importance of education, managing expectations, and understanding when it comes to navigating a volatile market.
Listen for these key points:
0:40 – Are you ready for summer?
2:53 – Is this permanent?
4:56 – Raise rates fast or slow?
6:35 – Fewer people working
8:00 – What are we going to do?
10:59 – Education, expectation, understanding
13:52 – Preparing for unexpected
15:50 – Buying before a crash
16:34 – Looking at the big picture
19:21 – What do we do to protect our wallets?
21:08 – Don’t inflate your expenses 8%
22:39 – Expenses aren’t linear
Get additional financial information: https://doncashpodcast.com/episodes/
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Jun 2, 2022
Solutions to Investor Anxiety
Last week we spoke on the cycle of investor anxiety. How can we break this cycle and enjoy a fruitful financial future without the stress?
Listen for these key points:
0:35 – This past Memorial Day
4:40 – Phase 1
7:02 – Phase 2
8:56 – Phase 3
13:19 – Phase 4 & 5
15:52 – How do we break the cycle?
18:12 – Change your news up!
18:45 – Maximize returns, minimize risk
20:50 – Let others be emotional
21:55 – Hire a holistic planner
Get additional financial information: https://doncashpodcast.com/episodes/
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May 19, 2022
The Cycle of Investor Anxiety
How do we overcome the cycle of anxiety we face as investors? On today’s episode, Don breaks down the 5 stages of investor anxiety and how we can overcome these obstacles in today’s world.
Listen for these key points:
0:55 – It’s hot here!
3:36 – Phases of anxiety
4:49 – A broken process
5:45 – Fear of the future
6:38 – Addicted to technology
10:06 – You can’t predict the future
11:15 – Track record investing
13:22 – Information overload
14:51 – Emotional decisions
18:34 – Breaking the rules
19:36 – How to overcome this cycle
Get additional financial information: https://doncashpodcast.com/episodes/
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May 5, 2022
Inflation, Interest Rates, and Investment Volatility - Part 2
It seems like all the talk lately as been inflation, interest rates and investment volatility. Every time you look at the news you see rising inflation numbers, gas prices seem to have actually gone up again and the stock market has been crazy volatile. Add in another interest rate increase by the Federal Reserve and the list of issues gets longer and longer. We didn't have enough time to dig deep into all of these things so, let’s see if we can make some sense of what’s going on and what we can do about it.
Listen to part 1: https://doncashpodcast.com/podcast/inflation-interest-rates-and-bond-prices-oh-my/
Listen for these key points:
0:53 – Allergies and COVID
2:29 – Used car prices
3:51 – Setting up part 2 of the conversation
5:32 – Last time rates were at 5%
6:19 – Interest rates
7:21 – World events impacting inflation
8:31 – Imbalances
11:51 – Wages and workers
14:11 – Other price increase examples
15:16 – Hidden tax
17:21 – What can individu…
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Apr 21, 2022
Inflation, Interest Rates and Bond Prices - Oh My!
Interest rates are going up, inflation is impacting our wallets, and bond prices are down. On today’s episode, we break down these issues and how they could impact you.
What we discuss:
0:53 – Changing mask rules
2:16 – Will travel start up again?
3:16 – Air travel and fuel are up
5:09 – Why are rates jumping up?
7:16 – Prices of homes have gone up
9:55 – Impact on stocks and bonds
11:07 – Bonds are stable, but can go down
13:00 – Reinvesting at a higher rate
14:45 – What is causing this?
16:11 – What is an advisor’s job?
17:29 – As you get closer to retirement
Get additional financial information: https://doncashpodcast.com/episodes/
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Apr 7, 2022
Winners and Losers 2 Years After Covid Market Crash
What does it take to be a winner in today’s stock market? We’ll explore the difference between winners and losers when it comes to investing on today’s episode.
What we discuss:
0:53 – UNC versus Kansas
3:43 – The market since 2020
5:10 – Winners have a plan
6:49 – Changes since 2020
11:19 – Greed and gains
14:20 – What makes a winner?
16:55 – Waiting to get back in
19:49 – Mailbag: “Non-financial suggestions for retirement?”
Get additional financial information: https://doncashpodcast.com/episodes/
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Mar 24, 2022
Proposed IRA Changes and Roth Tax Tips
Last month some new IRA changes were proposed. How could these possible changes impact your financial future and your family’s?
What we discuss:
0:32 – Spring has sprung
2:27 – IRS rule changes
4:29 - Inheritance rules
6:47 – New proposed required distributions
7:49 – When the original owner dies
9:21 – Designated beneficiaries
11:37 – Impact on generational wealth
13:13 – Make a comment to the government
13:52 – Roth tax advantages
14:58 – Tax planning tips for 2021
17:35 – What’s the catch?
18:28 – Is there a MAGI?
Submit a formal comment: https://www.federalregister.gov/documents/2022/02/24/2022-02522/required-minimum-distributions
Referenced Article: https://www.journalofaccountancy.com/news/2022/feb/proposed-regulations-update-rmds-secure-act-changes.html
Get additional financial information: https://doncashpodcast.com/episodes/
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Mar 10, 2022
Facing Geopolitical Risk
Today, we will discuss the geopolitical events of the past and present. Geopolitical risk is nothing new, but will current conflicts significantly impact the economy?
What we discuss:
0:30 – Things change quickly
2:05 – Keeping perspective
3:16 – Ukraine and Russia history
3:56 - Ukraine wanting to join NATO
6:00 – Different types of risk
8:37 – Geopolitical risk in perspective
10:46 – 26 market corrections since WWII
13:14 – Gas prices throughout history
15:28 – Four mega trends
17:46 – What can we expect to see?
20:29 – Not everything is affected equally
22:20 – What is the ‘solution’?
Get additional financial information: https://doncashpodcast.com/episodes/
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Feb 24, 2022
How Media Hype Can Lead to Bad Retirement Decisions
Today we’re talking about media hype and how it can lead people to make bad financial decisions that could cause problems with or ruin their retirement. Find out if you have fallen for any of this hype.
What we discuss:
3:00 – Bitcoin
3:59 – Rhode Island couple
9:40 – Questionable Internet scheme
11:40 – Buying gold
14:20 – Investing in crypto
16:15 – Required minimum distributions
Resources:
https://leedaily.com/2021/12/05/a-couple-stored-ira-gold-at-home-they-owe-the-irs-more-than-300000/
https://www.irahelp.com/slottreport/proceed-caution-when-investing-your-ira-gold
Get additional financial information: https://doncashpodcast.com/episodes/
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Feb 10, 2022
Coming Economic Storms and Media Mania
We are wrapping up our series on economic storms this week by focusing on the media. Between constant headlines and breaking news, there can be a lot of news to sift through. So, what should we expect from the media throughout 2022?
Screen Time -
https://www.comparitech.com/tv-streaming/screen-time-statistics/#:~:text=The%20average%20American%20spends%20over,at%20a%20screen%20every%20day.
The Social Dilemma –
https://www.thesocialdilemma.com/
The Reticular Activating System -
https://www.sciencedirect.com/topics/veterinary-science-and-veterinary-medicine/reticular-activating-system#:~:text=The%20reticular%20activating%20system%20(RAS,awake%2C%20desynchronized%20cortical%20EEG%20patterns.
What we discuss:
0:42 – Snow storm!
2:41 – Financial news
4:18 – How big media works
6:29 – Getting you addicted
8:21 – Collecting your information
10:15 – Goal to get people watching
11:43 – What do you get from the media?
13:13 – What actions are you going to take?
1…
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Jan 27, 2022
Economic Storms in 2022 - Part 2
What other economic storms can we expect in 2022? We’ll discuss stock market dips, geopolitical tensions, and more today.
What we discuss:
0:49 – Kids are back in school
4:37 – Historical tax rates
6:54 – Stock market turmoil
9:33 – Selling out of panic
10:56 – Diversification matters
12:57 – Geo-political risks
15:13 – Supply chain issues
17:51 – Increase in rent
19:12 – Top expenses
22:39 – Quality of life
Get additional financial information: https://doncashpodcast.com/episodes/
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Jan 13, 2022
Economic Storms in 2022 - Part 1
What economic threats should we be preparing for in 2022? We’ll discuss inflation, taxes, and political turmoil today and how these storms could impact your plan.
What we discuss:
1:05 – We are into 2022
3:09 – There is a lot to worry about
6:09 – Inflation touches 7%
10:04 – Prepare for inflation
12:40 – Taxes in the short term and long term
17:03 – State income taxes
19:52 – Stealth taxes
23:22 – Political turmoil
Resources:
https://www.wsj.com/articles/the-best-investment-2022-stock-market-advice-11641571196
Get additional financial information: https://doncashpodcast.com/episodes/
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Dec 16, 2021
2021 Year in Review
As 2021 comes to an end, what can we learn from this year? On today’s episode, we’ll discuss some of the top headlines and predictions of this year. How many of those predictions turned out to be correct?
Read and get additional financial information: https://doncashpodcast.com/podcast/2021-year-in-review/
What we discuss:
1:06 – 2021 is coming to an end
2:47 – Highlights, headlines, and predictions
3:47 – Let’s not put too much pressure on 2022
5:24 – Making financial decisions based on the news
7:30 – COVID impacting the market
10:27 – Is this inflation permanent?
14:00 – Political review of 2021
15:13 – Being prepared for the next year
17:03 – Investments in cryptocurrency
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Dec 2, 2021
The Season of Giving
Giving Tuesday was this week and we are entering the most charitable time of the year. What do you need to know about charitable giving and taxes?
Read and get additional financial information: https://doncashpodcast.com/podcast/the-season-of-giving/
What we discuss:
4:09 - Itemized deductions vs. standard deductions
8:20 – Allowance of $300
9:39 – RMDs and giving
12:14 – What if you are under 70 and a half?
13:45 – Donating appreciating stock or real estate
16:04 – Estate planning standpoint
18:22 – Cash connection question
More Resources:
https://www.pe.com/2021/11/07/gift-money-now-before-estate-tax-laws-sunset-in-2025/
https://www.forbes.com/sites/ashleaebeling/2020/12/22/new-bigger-charitable-tax-break-for-2021-in-year-end-spending-package/?sh=56747c5a5710
https://www.kiplinger.com/taxes/tax-deductions/601993/charitable-tax-deductions-an-additional-reward-for-the-gift-of-giving
https://www.kiplinger.com/taxes/603773/5-year-end-moves-to-help-retirees-trim-…
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Nov 18, 2021
Inflation, Infrastructure, and Medicare Increases in 2022
Inflation! We are seeing it everywhere. From the gas we buy to our Thanksgiving turkeys, prices seem to be going up everywhere. How does this affect Medicare? Well, you’ll probably be paying more on premiums. Will the infrastructure bill make inflation worse? That remains to be seen but you should stay vigilant. We will discuss these issues and how they impact you on today’s show.
Read and get additional financial information: https://doncashpodcast.com/podcast/inflation-infrastructure-medicare/
What we discuss:
0:53 – Thanksgiving is coming up!
2:09 – Inflation is heating up
4:30 – Medicare premium letters
7:11 – 2020 tax year for 2022 Medicare surcharge
8:34 – Infrastructure bill passed
11:16 – Will the bill affect inflation?
13:02 – Investors navigating inflation
15:17 – Residential real estate investments
17:23 – Home prices in the past
20:55 – How does inflation affect retirement planning?
24:11 – Mailbag: Will I run out of money without a bu…
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Nov 4, 2021
The ABC’s of Medicare
It is open enrollment season for Medicare! On today's show, we are going to discuss Medicare with expert Ray Martin. We will be covering the different types of plans, premiums, and tips you should be aware of as you reach age 65 and beyond.
Read and get additional financial information: https://doncashpodcast.com/podcast/the-abcs-of-medicare/
More Resources:
A Brief History of Medicare -
https://www.medicareresources.org/basic-medicare-information/brief-history-of-medicare/
Medicare Handbook –
https://www.medicare.gov/medicare-and-you
The Nuts and Bolts of Medicare Book -
https://martinmedicare.lpages.co/fmbcom/
What we discuss:
0:45 – Our guest Ray Martin
2:27 – Medicare basics
4:09 – Part A and B Medicare
5:44 – True universal coverage
6:54 – Premium for Medicare
10:20 – Working past 65
12:36 – Medicare supplements
15:22 – Medigap policies
17:18 – Medigap premium range
20:19 – Irmaa surcharge
21:46 – Medicare advantage plans
27:15 – Adva…
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Oct 21, 2021
Important Ages in Retirement
What should you be planning for as you reach 50? What is the best age to take Social Security? Today, we are going to go over some key ages to be aware of as you plan for and approach retirement.
Read and get additional financial information: https://doncashpodcast.com/podcast/important-ages-in-retirement/
What we discuss:
0:30 – What’s new?
3:15 – Important ages
4:50 – Turning 50
6:50 – Contributing a total of $7,000
7:44 – Exceeding 26,000 in 401k
10:01 – Turning 55 & 59 ½
12:05 – Going into our 60s
18:03 – Waiting till 70 for Social Security
23:11 – Going into our 70s
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Oct 7, 2021
Bonds, Interest Rates, and Tax Proposals
You’ve probably heard about the recent tax proposals in Congress. How will they affect your financial future if they pass? Today we will discuss these proposals, while also taking it back to 1981 to discuss bond rates.
Read and get additional financial information: https://doncashpodcast.com/podcast/bonds-interest-rates-and-tax-proposals/
What we discuss:
0:36 – Happy October!
4:07 – 1981 Articles
6:18 – Bond rates in 1981
7:34 – Bonds & CDs
10:01 – Investing hindsight
13:00 – What can cause an increase in interest rates?
15:47 – Proposed tax changes
18:56 – Not than many billionaires
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Sep 23, 2021
5 Financial Biases to Avoid
What can get in the way of your financial success? Today we are talking about a few financial biases such as the fear of missing out and overconfidence. We will also discuss how to avoid these biases.
Read and get additional financial information: https://doncashpodcast.com/podcast/5-financial-biases-to-avoid/
What we discuss:
0:50 - How has the summer been?
2:11 - Why should we care about how behavioral finance?
5:41 - What financial biases do we have?
15:46 - Cash Connection: When should I file for Social Security benefits?
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Sep 9, 2021
Finding a New Path and Perspective after 9/11
Today we have a special episode of the podcast for you. With the 20th anniversary of 9/11 approaching, Don invited special guest Kevin Haney onto the show to talk about how his work took a turn after September 11th and what it meant for his life.
Read more and get additional financial resources here: https://doncashpodcast.com/podcast/finding-a-new-path-and-perspective-after-9-11/
About our guest: https://www.growingfamilybenefits.com/about/
What we discuss on this episode:
0:21 - Today’s guest is Kevin Haney.
1:54 - What was Kevin’s personal story and experience after September 11th?
3:58 - Kevin originally was booked on flight 93 but changed it.
5:42 - What did Kevin do after that close call?
6:39 - When did Kevin find out what was happening?
9:46 - How did Kevin’s perspective change after that?
15:08 - What did Kevin transition into?
16:27 - What was it like to change careers mid-life?
19:14 - The same skill set didn’t all transfer over. How did he pivot?
21:13…
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Aug 26, 2021
Budgeting Time and Money - With Ten Kids!
Today we’re excited to bring on special guest Brien Dunphy, who is a business consultant that balances work with his family of 10 kids in New Jersey! How do they possibly manage the finances? (Hint: Brien is not rich or living on a trust fund) Listen to Brien’s amazing story on today’s podcast.
Read more and get additional financial resources here: https://doncashpodcast.com/podcast/budgeting-time-and-money-with-ten-kids/
About our guest: https://www.briendunphy.com/
What we discuss on this episode:
0:18 - Introducing special guest: Brien Dunphy.
3:40 - How did Don and Brien meet? What’s Brien’s background?
9:00 - What did Brien learn during his master’s program?
11:38 - What systems had to be put in place after having kids?
14:03 - What is schooling like?
17:53 - How did Brien end up doing what he does now?
21:44 - What does it cost to run a household annually?
30:15 - What does daily life look like?
37:45 - What is Brien’s guilty pleasure?
39:38 - What did…
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Aug 12, 2021
The Hidden Value of an HSA
Do you have the option of contributing to an HSA for medical expenses? Why does this matter? Don shares why an HSA can provide big benefits later on and in retirement.
Read more and get additional financial resources here: https://doncashpodcast.com/podcast/the-hidden-value-of-an-hsa/
What we discuss on this episode:
1:17 - Delta is making waves.
6:54 - What is the hidden value of an HSA?
9:28 - How is an HSA different from a typical health insurance plan?
11:56 - What are the benefits of an HSA?
13:36 - What are the rules?
16:16 - How do you get the money out in retirement?
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Jul 29, 2021
Is It Still A Good Time to Refinance?
Is now still a good time to refinance your home? With record low interest rates, the past year has resulted in a lot of people choosing to refinance. If you haven’t done so already, have you missed your chance? On today’s episode of the podcast, Don talks through what kind of numbers to pay attention to as you determine what is best.
Read more and get additional financial resources here: https://doncashpodcast.com/podcast/is-it-still-a-good-time-to-refinance/
What we discuss on this episode:
1:42 - Don’s facing a car shortage.
4:24 - Should you refinance your home?
7:58 - Why are the rates low while inflation is high?
11:28 - So it is still a good time?
15:53 - Should retirees consider selling or downsizing?
21:04 - Don’t fall victim to recency bias.
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Jul 15, 2021
Passing Down An Inheritance
Leaving an inheritance is often a goal, but how can it be done effectively? We talk through the different mistakes to avoid and the things to pay attention to when estate planning.
Show notes & more resources: https://doncashpodcast.com/episodes/
Episode highlights:
0:38 - How does Don like to travel?
3:30 - Baby Boomers are starting to distribute record amounts of wealth.
5:29 - What’s the average inheritance?
6:04 - Some choose to gift to their children and grandchildren while they are alive.
9:21 - How did the SECURE Act impact inheritances?
10:54 - There are designated beneficiaries and non-designated beneficiaries.
15:55 - How does the beneficiary form differ from a will?
19:36 - Cash Connection: What’s the best way to help my 18-year-old with retirement savings?
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Jul 1, 2021
What To Do With Your Pandemic Savings?
Before you go wild with your funds as the country opens up again, what should you do with your recent savings? Don shares some strategies to make sure you accomplish your financial goals.
Read more and get additional financial resources here: https://doncashpodcast.com/podcast/what-to-do-with-your-pandemic-savings/
What we discuss on this episode:
0:42 - Happy 4th of July!
1:34 - What should you do with your pandemic savings?
4:23 - Where should you invest?
6:09 - What do you want your money to do? Are you planning to travel?
9:13 - Does Don anticipate a strong third quarter?
14:06 - What is happening with inflation right now?
16:10 - Getting to Know Don: What’s one thing that always makes your day better?
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Jun 17, 2021
Who is the Rich?
The word rich gets thrown around all the time but who actually falls into that category? It’s certainly subjective but the government’s definition by directly impact your future taxes. Let’s look at some statistics and get a better idea of how taxes are generated and who is actually paying them.
Read more and get show links here: https://doncashpodcast.com/podcast/who-is-the-rich/
What we discuss on this episode:
0:48 – Are we post-COVID?
2:37 – Clarifying comments from previous episode on New Jersey
5:02 – Who is the rich?
7:70 – $40,000 dilemma
8:48 – Issue of the wealthy not paying enough in taxes
10:33 – How much puts you in the top 1%
12:15 – Income tax rates
15:48 – Cash Connection question on long-term care policy rate increase
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Jun 10, 2021
Moving to a Tax-Friendly State
When should you consider moving to another state? Sometimes tax benefits may be a motivator when making this decision. Don talks about the tax ramifications when living in certain states.
Read more and get additional financial resources here: https://doncashpodcast.com/podcast/moving-to-a-tax-friendly-state/
What we discuss on this episode:
0:48 - School’s coming to an end!
2:22 - The pandemic has changed the way people do things.
4:19 - New Jersey is number one in lifetime total taxes paid.
6:52 - Why are people leaving certain states?
14:55 - Why does Florida appeal to retirees?
18:40 - It’s important to work with an advisor.
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May 20, 2021
New Inflation Numbers, What Do They Mean?
We’ve already seen tremendous inflation in housing, lumber and other areas since Covid hit. But will that soaring inflation continue?
Read more and get additional financial resources here: https://doncashpodcast.com/podcast/new-inflation-numbers-what-do-they-mean/
What we discuss on this episode:
4:53 – Most recent concern about inflation
6:24 – What to be concerned about?
8:07 – Short-term or long-term inflation?
10:05 – Persistent inflation?
11:58 – Why did stock market drop?
13:42 – Don’t put all eggs in one basket
15:55 – Smooth out the ride
18:40 – Sensible but difficult in practice
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Apr 29, 2021
How Could the Capital Gains Tax Affect You?
President Biden is approaching 100 days in office and is about to hold his first joint session in Congress. One of the things he’ll be talking about is the capital gains tax proposal. What do you need to know about this?
Read more and get additional financial resources here: https://doncashpodcast.com/podcast/how-could-the-capital-gains-tax-affect-you/
What we discuss on this episode:
0:30 - Spring brings allergies and storms.
2:35 - Don’t forget about this year’s tax deadline.
3:53 - Biden is coming up on 100 days.
5:22 - What is the capital gains tax?
8:24 - How might this affect everyone?
15:27 - What about the step-up in basis?
21:06 - What is publication 590-B?
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Apr 15, 2021
What You Need to Know About Continuing Care Retirement Communities
Are you or someone you know considering living in a retirement community? What should you know ahead of time? What kind of costs might come with that?
Read more and get additional financial resources here: https://doncashpodcast.com/podcast/what-you-need-to-know-about-continuing-care-retirement-communities/
What we discuss on this episode:
0:37 - Spring has sprung!
1:57 - Senior living communities struggling financially.
5:14 - What if you don’t like it?
6:24 - How has COVID affected these communities?
8:18 - Are people usually satisfied living in these communities?
10:15 - What suggestions does Don have when considering a CCRC?
12:24 - What questions should you ask and assess?
18:50 - Cash Connection: Collecting Social Security as a widow?
22:51 - Getting to Know You: What did Don do with some raffle winnings?
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Apr 1, 2021
Infrastructure Bill and Future Taxes
If you thought the last COVID relief bill was big, have you heard about the infrastructure bill and the potential tax increases to pay for it? On our last show we talked about the most recent stimulus package and what it entailed. This episode of the podcast we discuss the new infrastructure bill being proposed.
Read more and get additional financial resources here: https://doncashpodcast.com/podcast/infrastructure-bill-and-future-taxes/
What we discuss on this episode:
0:33 - March Madness is coming to an end.
3:05 - What potential tax increases are we looking at?
6:48 - How reliable are these renewable sources of energy?
8:04 - What other items are included in this bill?
10:36 - Who is paying for this bill?
22:47 - Getting to Know You: What’s the luckiest thing that’s happened to Don recently?
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Mar 18, 2021
What Does the Stimulus Package Mean For You?
We talk through what the stimulus package includes, what it means, and where we’re headed on today’s episode. Then, Don answers a question from the mailbag about refinancing.
Read more and get additional financial resources here: https://doncashpodcast.com/podcast/what-does-the-stimulus-package-mean-for-you/
What we discuss on this episode:
0:25 - What’s going on this week as we enter into spring?
3:04 - $1.9 trillion stimulus package was passed.
11:02 - Are we headed toward inflation?
13:32 - Mailbag: Is it too late to refinance?
15:31 - What did Don look at when he refinanced?
21:39 - Where would Don like to retire?
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Feb 25, 2021
Wall Street Approach vs Academic Approach
What’s the best approach to the market? If you think you’re picking a “good stock” what does that really mean? And how can you make a good choice? On today’s podcast, Don shares the academic approach to the market as well as a number of comparisons of how this can look in everyday life.
Read more and get additional financial resources here: https://doncashpodcast.com/podcast/wall-street-approach-vs-academic-approach/
What we discuss on this episode:
1:43 - Winter weather presses on.
2:26 - What’s the latest college “resource”?
4:49 - Is buying “good stocks” still a speculation?
7:07 - What’s the academic approach to the market?
12:35 - How likely are you to beat the market?
16:32 - What does Don think about the economy?
18:34 - What is recency bias?
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Feb 11, 2021
GameStop Stock Situation
What just happened with GameStop? What can we learn from it, and how does it apply to your financial plan? We’ll get Don’s perspective on today’s show.
Read more and get additional financial resources here: https://doncashpodcast.com/podcast/gamestop-stock-situation/
What we discuss on this episode:
1:06 - Don’s theory when it comes to picking a team to cheer for in the Super Bowl.
2:40 - What other drama has occurred in February?
3:48 - What good news has happened so far this year?
6:49 - What’s been happening with GameStop?
9:01 - What’s a short sell? What was different this time?
13:31 - What’s long-term investing and what’s luck?
15:25 - Why does this situation remind Don of a TV show?
17:26 - Don’t get greedy!
18:16 - Did any of Don’s clients consider buying GameStop stock?
19:43 - How do you build wealth?
21:07 - What age did Don love being?
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Jan 28, 2021
What Should You Be Thinking About For 2021?
What does Don predict for the new year? How can we prepare our financial plan appropriately for what may come in the future? Let’s talk about some areas that need attention in 2021.
Read more and get additional financial resources here: https://doncashpodcast.com/podcast/what-should-you-be-thinking-about-for-2021/
What we discuss on this show:
0:50 - As predicted, 2021 hasn’t exactly been the brand-new start we all hoped for.
3:09 - What’s the latest in vaccine and COVID news?
10:17 - What is the economic side of what’s to come?
14:27 - What is the real estate market like right now?
18:17 - What should we be thinking about in 2021?
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Dec 18, 2020
The Highlights & Lowlights - Wrapping Up 2020
As you wrap your gifts and prepare for the ball drop, we wrap up 2020 by reviewing the highlights and lowlights that happened this year. Can you believe all that’s happened?
Read more and get additional financial resources here:
https://doncashpodcast.com/podcast/the-highlights-lowlights-wrapping-up-2020/
Download the strategies checklist PDF: https://doncashpodcast.com/wp-content/uploads/2020/12/7-Best-Strategies-for-Year-End-Planning-2020.pdf
What we discuss on this show:
0:39 - It’s beginning to look a lot like Christmas with snow for Don.
3:28 - Let’s do a year-end wrap up of 2020.
5:37 - January was when we were talking about the impeachment of the president.
6:28 - March we started the shutdown.
6:50 - Early summer we had protests and riots.
8:07 - By fall we were watching the election.
10:40 - What lessons can we carry into 2021?
15:05 - What habits have we changed?
18:10 - What other surprises has 2020 brought?
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Dec 3, 2020
End of Year Financial Checklist + Market Update
We’re closing in on the end of the year, which is a great time to catch up on a little rest and relaxation. Before you do that, there are some financial items you should review before the calendar turns to January. We’ll run through a list of five planning considerations on this show, and we’ll also get Don’s thoughts on the recent surge in the market.
Read more and get additional financial resources here: https://doncashpodcast.com/podcast/end-of-year-financial-checklist-market-update/
Download the strategies checklist PDF: https://doncashpodcast.com/wp-content/uploads/2020/12/7-Best-Strategies-for-Year-End-Planning-2020.pdf
What we discuss on this show:
1:14 – Holiday update
5:29 – Market up nearly 10% in November, surprising?
7:16 – How much is vaccine and treatment related?
8:25 – Value vs Growth companies
13:46 – Roth conversions
16:07 – IRA hardship distribution
17:07 – Qualified Charitable Distributions
18:49 – Estate Planning
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Nov 19, 2020
Evaluating the End of the Year 2020
As we near the holiday season and end of the year, what’s been happening in our country? How does it impact what we do in our own financial planning? Anything we should do before the year is over?
What does the election mean for planning for 2021, especially when we don’t have official results yet? Even without total clarity on our politicians, the economic results are coming back fairly strong, especially when it comes to consumer spending.
We'll talk about that on today's episode.
Read the show notes here: https://doncashpodcast.com/podcast/evaluating-the-end-of-the-year-2020/
What we discuss on this show:
1:14 - COVID is spiking sadly.
3:52 - The election results are not yet finalized.
5:22 - The stories about possible vaccines are promising.
7:16 - What does a divided Congress mean for taxes?
9:10 - What moves should we make before the end of the year?
10:29 - Any changes with Social Security?
12:46 - What specific financial planning moves should we consider?
16:19…
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Nov 5, 2020
How This Election Compares to Previous Years
Election Day is behind us but the results for this year’s vote are still unclear. As unusual as the 2020 election has been, there are some surprising parallels to previous years. Join us as we go through those and then discuss what we can be doing from a planning standpoint during all the uncertainty.
Read more and get additional resources here: https://doncashpodcast.com/podcast/how-this-election-compares-to-previous-years/
What we discuss on this show:
0:29 - Election Day has passed
2:30 - Will be a while before things get settled
3:50 - Similar to the great election controversy of 1876
7:17 - So how was that election resolved?
9:52 - What planning considerations do we need to have during all this?
12:59 - What do we do now?
16:17 - Gaining that peace of mind for your future
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Oct 15, 2020
Planning for Social Security Benefit Changes
The federal government recently announced an increase to Social Security benefits for 2021 but it also came with an increase in Medicare premiums. On this episode, we’ll tell you what you need to know about these adjustments along with thoughts on additional changes that could come be coming down the road.
Read more and get additional financial resources here: https://doncashpodcast.com/podcast/planning-for-social-security-benefit-changes/
What we discuss on this show:
3:22 - Mixed signals from the market with the latest news.
4:37 - Canceled debates
6:55 - Cost of living & premium increase in Social Security benefits
9:08 - Is Social Security going broke?
11:04 - Stats on claiming benefits
12:11 - Ways they could make the program solvent
14:28 - Reducing the inflation benefit
16:47 - How does this impact someone in retirement now?
20:38 - Getting to Know Don: What’s a habit that drives you crazy that some people might have?
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Oct 1, 2020
Electionomics
What are some of the economics surrounding an election year? How will our president impact our economy? Let’s talk about the 800 pound gorilla in the room as we head into the final quarter of 2020.
Read more and get additional financial resources here: https://doncashpodcast.com/podcast/lets-talk-electionomics/
What we discuss on this show:
1:39 - What does it take to go boating these days?
4:31 - What should investors and retirees be doing leading up to the election?
6:12 - What do the polls indicate?
11:17 - How do the markets react?
16:04 - Why do we see the economy working independently of the presidents?
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Sep 17, 2020
Obsolete Financial Planning Axioms
Have you ever heard of the 10-5-3 rule? It’s one of the outdated financial planning axioms that just don’t make sense anymore. Today we’ll tell you why and explain interest rates, inflation, and factors that determine where we’re headed.
Read more and get additional financial resources here: https://doncashpodcast.com/podcast/obsolete-financial-planning-axioms/
What we discuss on this show:
0:33 – An update on what’s going on with Don.
3:45 – The 10-5-3 Rule
9:07 – An example of how inflation works.
11:59 – Items with the greatest inflation.
14:06 – Could 10-5-3 rule become more relevant?
15:16 – Cash Connection: Should I be investing different since we have this election approaching in a few months.
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Sep 3, 2020
Stock Market & Real Estate Update
As summer winds down, the economy is still facing numerous challenges but you wouldn’t know it by looking at the stock market and real estate these past few months. Let’s try to make some sense of what we’re seeing in both markets and find out what Don thinks about the rest of the year.
Read more and get additional financial resources here: https://doncashpodcast.com/podcast/stock-market-real-estate-update/
What we discuss on this episode:
0:48 – What’s going on since last show?
5:48 – What should we make out of these market gains?
10:19 – Tech driving the market
12:56 – How will the election factor into the market?
16:45 – How is the housing market staying so strong?
23:25 – Does Don have any clients thinking about cashing out and moving?
24:24 – Where is Don getting his news from these days?
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Aug 20, 2020
Preparing For Financial Storms
Are you prepared for a financial storm? We explain what to do and why a financial advisor is so important in helping you weather tough conditions when the forecast gets dark.
Read more and get additional financial resources here: https://doncashpodcast.com/podcast/preparing-for-financial-storms/
On today's show:
5:35 – We react and don't plan for financial storms
7:30 – Positives and negatives of diversification
9:07 – Hot stocks
10:02 – Tesla
13:54 – Mailbag: Should financial advisor help with social security, life insurance and legacy planning?
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Aug 6, 2020
Have You Made a 'Corona Purchase'?
Have you made a big splurge recently? How have your finances shifted in the past several months during the pandemic? Today we’ll talk about how spending has changed as our lifestyles have slowed down.
Read more and get additional financial resources here: https://doncashpodcast.com/podcast/have-you-made-a-corona-purchase/
On today's show:
0:26 - Don talks summer heat and summer fun before school starts again.
6:28 - Have you heard about the “Corona Purchase”?
9:08 - Home improvements projects and remodels are popular right now.
14:51 - Inventory on some hot items are running low.
15:51 - Who benefits economically from these improvements?
18:10 - Are you diversified?
22:14 - Getting to Know You: Would you rather make twice as much money next year or make the same amount of money while only working half as much?
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Jul 16, 2020
What Happens Financially After the Loss of a Spouse?
Times like these may make you think more soberly and realistically about if something tragic were to occur. How do you prepare financially for the inevitable of one spouse passing away? We’ll take you through the important considerations on this episode.
Read more and get additional financial resources here: https://doncashpodcast.com/podcast/what-happens-financially-after-the-loss-of-a-spouse/
Today's show schedule:
0:27 - Don shares about his holiday.
3:01 - What happens after the loss of a spouse financially?
5:16 - What does it look like when only one spouse takes care of the financial plan?
6:58 - What can people do ahead of time to prepare?
9:08 - What tax changes will happen after a spouse dies?
11:37 - Mailbag: Is this a good time to buy bonds?
16:10 - Do you know your risk tolerance as well as your goals?
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Jul 2, 2020
Assess Your Financial Health With A Stress Test
Don recently went to the doctor for a checkup and a cardio stress test. All is well, but the experience reminded him just how similar it is to the testing he puts his clients’ portfolios through to make sure they can weather life’s various financial storms. He’ll also give you five easy-to-follow rules for how to survive the next stock market crash.
Show Notes, Resources & Contact Info:
https://doncashpodcast.com/
Timestamps:
0:35 – Life is slightly back to normal for Don.
2:23 – Don stumps Marc on some July 4th trivia. How many signers were on the Declaration of Independence?
4:23 – Have you ever gone through a cardio stress test? Don just experienced one during a health checkup.
10:09 – What does the financial stress test really look like? Don lays out three key elements.
12:50 – Let’s learn some lessons from the 2020 market crash with the 5-Rule Market Crash Survival Guide.
17:02 – Don discusses some more tweaks to this year’s Required Minimum Distribu…
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Jun 18, 2020
Financial Lessons from Mark Twain & Picking the Right IRA
We look at several quotes from Mark Twain in today’s episode to see how it may apply in our own financial life. Then, we talk through traditional and Roth IRAs to see which is better for you.
Read more and get additional financial resources here: https://doncashpodcast.com/?p=305
Today's show schedule:
0:31 - Don shares his summer plans and how they’ve had to change.
2:17 - What can we learn about money from Mark Twain?
4:13 - Thinking the market will always go up can lead to panic when it doesn’t.
6:18 - October…and basically all of our months are dangerous for stocks.
7:57 - What are people talking about when they mention the stock market?
9:34 - A balanced portfolio does better during turbulent times.
11:19 - Choosing between a traditional and Roth IRA.
13:12 - What is the power of the Roth IRA?
14:33 - What’s the difference between a Roth conversion and contribution?
16:23 - Who should contribute to a traditional and who should contribute to a Roth IRA?
18:25…
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Jun 5, 2020
June Economic Update
With a constant changing world, particularly in the last four months, what is going on with the economy right now? What takeaways should we have from that when mapping out our financial plan?
Read more and get additional financial resources here: https://doncashpodcast.com/?p=301
Today's show schedule:
0:43 - Hopefully we move toward a better tomorrow.
2:01 - How can we have high unemployment and a rising stock market?
3:17 - How is this possible?
6:43 - Why is it important to diversify?
9:13 - Cash Connection: Is it worth the penalty in a variable annuity to move my money somewhere with lower fees?
13:04 - Getting to Know You: What does Don get nostalgic about from the past?
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May 21, 2020
How Have Our Clients Been Doing Through Quarantine?
We spend a lot of time on the financial side of life, but money is nothing without your physical and mental health. Today we talk to Don about how clients have been handling isolation, how they’re staying healthy, and whether they are starting to venture out.
Read more and get additional financial resources here: https://doncashpodcast.com/?p=290
Today's show schedule:
1:09 – What’s the latest update on opening up businesses?
2:57 – Don was finally able to get a haircut but here’s what he had to do.
5:15 – How are clients doing financially and emotionally through this pandemic?
7:06 – Are clients starting to venture out yet at all?
10:13 – The isolation is starting to wear on people.
13:20 – Many deceased people are receiving stimulus checks.
14:59 – A lot of companies like insurance are providing discounts during this time.
16:56 – Cash Connection question: I just inherited a large sum of money from my dad. I thought it would be a bout $50,000 but it’…
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May 7, 2020
What Does Economic Health Looks Like?
As we transition into a new routine and daily life, the economy continues to struggle. What has the Fed done? And will it be enough to help our economy?
Read more and get additional resources here: https://doncashpodcast.com/podcast/what-does-economic-health-looks-like/
Today's show schedule:
1:45 - Life feels a bit like the movie “Groundhog Day” that repeats over and over.
3:35 - What lessons could be learned from the movie?
5:32 - In the News: Police in New York City broke up an illegal night club/barbershop.
7:23 - What is the Federal reserve doing to help with the high unemployment rate?
11:15 - The Fed is trying to pump money into the economy.
12:02 - What should you do with your stimulus check?
12:25 - What is the formula for economic health?
13:37 - Using an example of a restaurant dinner bill, how will that money be used?
17:12 - Cash Connection: Should you refinance your mortgage?
21:18 - Have you been inundated with virus-related emails? Be careful!
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Apr 23, 2020
The Latest Financial Update on Coronavirus
As we approach the third month dealing with the coronavirus health crisis, let’s get an update on where things stand. Don will tell us how he’s dealing with the quarantine, what clients are concerned about, and the adjustments you might want to consider.
Read more and get additional resources here: https://doncashpodcast.com/?p=277
Today's show schedule:
1:56 - Some quarantine trivia.
3:47 - How is the family doing through all this?
4:47 - Don’s three good things to reflect on.
6:30 - How are clients and other people in the industry dealing with this?
7:39 - It’s hard to find context for a lot of the statistics we’re hearing.
10:42 - What kind of feedback are you hearing from clients since last month?
11:28 - The changes in the IRA rules have caused some confusion. Don clears things up.
13:45 - Tax obligations for these provisions.
14:24 - What adjustments are clients making right now?
17:00 - Does this law affect charitable donations at all?
19:09 -…
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Apr 2, 2020
Coronavirus Update: Understanding the CARES Act
Have you heard about the CARES Act, which will provide aid and relief for individuals and businesses? What adjustments have you made recently due to coronavirus and its impact? We'll discuss a few key areas to pay attention to.
Read more and get additional resources here: https://doncashpodcast.com/?p=269
Today's rundown:
0:40 - What a world we’re living in now with social distancing and flattening the curve.
5:40 - Have people been making big changes with their financial plans?
7:49 - People typically fear getting sick or running out of money.
8:20 - What can you control?
9:54 - What has changed with the CARES Act?
14:40 - What are coronavirus-related distributions?
18:31 - Planning is a process and this will pass.
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Mar 19, 2020
Coronavirus Market Update
The coronavirus struck quickly across the country and it caused a rapid sell off in the market that has many people worried. How bad will this be? What can you be doing for your retirement plan? We get the latest from Don Cash with his perspective on what we’re witnessing.
Read more and get additional resources here: https://doncashpodcast.com/?p=257
Today's rundown:
1:24 - Let’s talk about what’s happening here and across the country with the coronavirus.
2:22 - Life has changed in many ways.
3:15 - Don talks about an app he’s been using to show gratitude daily.
4:23 - There’s not a lot of positivity in the news right now.
6:25 - Has Don been getting inundated with calls from clients? What kind of conversations is he having?
8:31 - What kind of financial topics are you covering right now?
9:30 - People are prone to react with fear in uncertain times.
10:44 - Is it a good time to buy?
12:44 - How do you see the government proceeding over the near term?
13:51 - Peo…
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Mar 5, 2020
Revisiting the SECURE Act: Inherited IRAs
Have you heard of inherited IRAs? The SECURE Act changed a lot of rules, including the details surrounding the inherited IRAs, so you’ll want to know how to plan accordingly.
Read more on this topic and get additional resources here: https://doncashpodcast.com/?p=244
Today's rundown:
1:27 - How has the SECURE Act changed things for us?
3:51 - How have inherited IRAs changed?
7:32 - Are there RMDs in the new rule?
9:26 - Which beneficiaries are exempt from this rule?
10:15 - If you listed a trust as your IRA beneficiary, you’ll want to revisit that with an estate planning attorney.
12:09 - Cash Connection: What are the contribution limits and rules for a Roth IRA?
17:42 - Getting to Know You: What is special about where Don grew up?
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Feb 20, 2020
Coronavirus, Impeachment, & Election – How News Might Affect Our Retirement
It’s been a busy year already and we aren’t even through February yet. Today we’ll address the top stories dominating the news right now – the Coronavirus, impeachment, and the election – and discuss whether these things will affect our retirement and planning in 2020.
Show notes and additional resources: https://doncashpodcast.com/?p=243
Today's rundown:
1:28 – In the News: What’s Don’s take on the Coronavirus and its impact?
4:34 – Don has a client that’s a doctor who’s always surrounded by viruses and never gets sick. This was his advice.
5:35 – In the News: How about the impeachment and election and its impact?
6:53 – The key is wisdom and the media doesn’t always provide that.
8:12 – Cash Connection question #1: I just retired and my husband is retired as well. We’re thinking about doing some serious traveling now. Should we buy travel insurance?
10:49 – Here are the conversations we have with our clients about travel.
14:37 – Getting t…
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Feb 6, 2020
Surviving The Sandwich Generation
Are you caught in the middle of caring for both aging parents and a young family, or even, adult children and grandchildren? It can be a difficult time full of stress. In today’s episode of Your Life, Your Money, Don shares a few examples of what this can look like and how to navigate it.
Show notes and additional resources: https://doncashpodcast.com/?p=236
Today's rundown:
0:57 - The “sandwich” generation consists of people taking care of both their aging parents and grown children.
3:12 - Everyone’s situation is different, but it can often feel like one sibling takes on the most responsibility.
5:13 - How do you handle the stresses of being caught in the sandwich generation?
5:53 - Don’t do it all yourself.
6:43 - Assess your own situation for the future.
7:13 - On the other side, parents may feel a lot of pressure to help their children succeed.
9:29 - Cash Connection: Is it a good idea to sell your home and move into a retirement community?
14:09 - How are Don…
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Jan 23, 2020
RMDs: Are You Billy Or Are You Bruce?
Feeling confused about what the SECURE Act means for you and your RMDs? Don will talk you through what you need to know and help you figure out whether you’ll need to take RMDs sooner or later.
Show notes and additional resources: https://doncashpodcast.com/podcast/rmds-are-you-billy-or-are-you-bruce/
Today's rundown:
1:38 - The SECURE Act is making people feel insecure about their RMDs.
2:57 - Are you more like Billy Joel or like Bruce Springsteen?
7:44 - How does Don help clients navigate these changes?
10:08 - Cash Connection Question: Can you explain the widow’s tax?
13:41 - Is there anything that can be done ahead of time to prepare for this tax?
17:02 - Getting to Know You: How does Don start the day?
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Jan 2, 2020
2019 Financial Year in Review
Before we turn the page and move into the new decade, let’s take a look back at a busy 2019. We saw a strong market, interest rate cuts, the passing of the SECURE Act, and more, but there are also some signs for concern heading into 2020.
Show notes and additional resources: https://doncashpodcast.com/?p=220
Today's rundown:
0:35 – Hard to believe it’s already 2020.
1:33 – What does Don see in store for 2020 from a financial perspective?
4:39 – People ask frequently about what’s going to happen in the stock market.
5:11 – Think about what was happening one year ago (December 2018) and the predictions we heard.
7:52 – Here’s what hasn’t changed financially in the last year.
8:21 – There are a few things to be concerned about heading into 2020.
11:52 – Cash Connection Question: My dad is 91 and remarried about 15 years ago. Both my dad and stepmother are in assisted living and thankfully have long-term care plans that cover the cost. He has told us he’s…
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Dec 19, 2019
SECURE Act Update Heading Into 2020
We’ve been keeping an eye on the SECURE Act for months now and recent legislation passed by Congress will make it effective starting in 2020. Get an overview of the adjustments and find out why Don believes this is the most important change to retirement accounts in nearly 15 years.
Show Notes and Additional Resources: https://doncashpodcast.com/podcast/secure-act-update-heading-into-2020/
Today's Rundown:
0:27 – Christmas time is here!
1:52 – In the News: Congress passed a $1.4 trillion spending bill in December to avert a government shutdown. Included in this was the SECURE Act. Can you give us an update on what this means to listeners.
3:25 – We reviewed the SECURE Act earlier this summer but there hasn’t been much to update since then.
4:12 – The 3 biggest changes in the SECURE Act
5:20 – Some important notes to know.
6:56 – Don sees some big problems potentially.
7:48 – Will everyone have to deal with these issues?
9:00 – The current tax code reverts…
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Dec 5, 2019
Understanding 2020 Medicare Premiums and IRMAA Surcharges
It was recently announced that the Medicare Part B monthly premiums and the annual deductible would be higher in 2020, so how is this amount calculated? We turn to Don Cash to explain Medicare premiums, IRMAA surcharges, and how it breaks down into different tiers.
Show Notes and Additional Resources: https://doncashpodcast.com/podcast/understanding-2020-medicare-premiums-and-irmaa-surcharges/
On This Episode:
0:32 – We made it through Thanksgiving (maybe a little heavier).
1:43 – In the News: It’s IRMAA Medicare season and more people are getting letters saying they’ll be paying a surcharge. Don explains.
6:16 – The five different tiers for surcharge levels.
7:44 – Where do people run up against these charges?
9:58 – Final thoughts from Don on IRMAA
11:39 – Time for Cash Connection
11:50 – Mailbag question: I’m in my mid-50s and I don’t have much saved for retirement at all. But I own my own business and I’m having a huge year so I’ll have some profi…
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Nov 21, 2019
Common Misunderstandings When It Comes to Social Security
Myths, rumors, and misunderstandings are pervasive in the world of Social Security. On this show, we’ll look to clear up the most common misunderstandings about Social Security, provide some background on the program, and forecast possible changes that could be coming.
Show Notes and Additional Resources: https://doncashpodcast.com/podcast/common-misunderstandings-when-it-comes-to-social-security/
On This Episode:
0:56 – Happy Thanksgiving!
2:23 – In the News: Social Security announced benefits would increase by 1.6% to cover cost of living. What are some of the common misunderstandings around Social Security?
3:37 – Here are the five most common misconceptions that Don hears.
4:25 – Let’s talk about the idea that Social Security is going broke. It’s been around since the beginning.
8:20 – How Social Security works exactly.
10:54 – Here’s how the ages break down for claiming Social Security.
13:58 – A fact about cost of living increases and how it all beg…
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Nov 7, 2019
How Legal Documents Impact Your Finances and Retirement - Part 2
Americans believe it’s important to have a will, but less than half have one. Not only do many Americans lack a basic will, they often lack very important legal documents. On part two of this series, Don will discuss how his family handles these documents and the process of getting his children updated.
Show Notes: https://doncashpodcast.com/podcast/how-legal-documents-impact-your-finances-and-retirement-part-2/
Today's Rundown:
0:36 – Baseball season not going any better for Don than football.
2:05 – What we talked about during part 1 of this series.
2:45 – Don fills us in on how the estate planning is going for his family.
3:24 – Don had to make changes with his children getting older.
4:03 – Typically, the husband will name the wife as the executor of the will.
4:53 – Where do your children’s spouses fit into the plan?
5:33 – Remember that not all of your assets get passed on through the will.
6:25 – Here’s how Don got to thinking about getting his ad…
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Oct 17, 2019
How Legal Documents Impact Your Finances and Retirement - Part 1
Americans believe that it is important to have a will, but less than half have one. Not only do many Americans lack a basic will, they often lack very important legal documents like a power of attorney, an advanced healthcare directive (living will) or HIPPA authorization forms. We will begin this discussion in part 1 of 2.
On this episode:
1:30 – Don Cash, a NY Jets fan, shares what the acronym J-E-T-S stands for in 2019.
2:26 – A recent survey found most Americans find it’s important to have a will but less than half actually have one. Why is that?
3:45 – We’re creatures of habit so if no one is talking about these things, they are easily ignored.
5:42 – What are some reasons you need to update your legal documents?
7:50 – A couple more things people should think about: gifting assets, protecting the children, clear up conflicts.
9:07 – For many folks, the 401k, IRA, or life insurance is the biggest asset and it doesn’t get passed on based on will. Instead it…
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Oct 3, 2019
What Can We Learn About Retirement from Flying?
You’ve likely never thought about it before, but there’s a lot we can learn about retirement from flying. Yes, many of the same processes and principles that are used by pilots and planes can be applied to our financial plan. We’ll take you through those on this episode.
Today's rundown:
1:08 – Setting up today’s conversation on flying and retirement.
2:45 – The first thing pilots do is log their flight plan.
4:57 – Turbulence affects people in different ways.
7:28 – Even pilots have help along the way.
8:31 – Going through the different phases of investing.
12:46 – Mailbag question: I’m retiring in six months and I’m wondering what will happen if we have another crash before I get to the finish line. Do you think I’ll be ok?
15:54 – Getting to Know Don: What’s a movie or play you’ve seen recently that you really enjoyed?
Get the full show notes and additional resources by visiting our website here: https://doncashpodcast.com/podcast/what-can-we…
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Sep 19, 2019
What Can We Learn From Interest Rates?
We read and hear a lot about interest rates as the move up and down, but how much do you know the rates and how they’re established? Find out how the Federal Reserve operates and what the changing rates mean for the economy and your finances.
Today's rundown:
2:00 – We’re talking interest rates today.
2:17 – It’s amazing how much influence the Federal Reserve has on the market today.
2:38 – Don asks a trivia question.
4:04 – How the Federal Reserve controls short-term interest rates.
5:24 – Why lower the rates now?
6:02 – The Federal Reserve has this basic objective.
6:38 – Show does this affect the consumer?
7:58 – Here’s the bigger story though.
8:54 – There’s been some demand for long-term bonds.
11:16 – Can the inverted yield curve predict a recession?
12:32 – Cash Connection question: I own my own business and haven’t paid much into Social Security even though I’ve had a nice income. Should I be worried?
16:42 – Getting to Know Da…
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Sep 5, 2019
Use the 3rd & 4th Quarter to Get Your Finances Organized
The second half of the year can be a great time to evaluate your portfolio and take the necessary steps to get your finances organized. If you don’t know where to start, we’ll give you a checklist of items you should be focused on during the 3rd and 4th quarter.
Check out the full show notes by clicking here.----more----
Today's rundown:
1:20 – What we’ll talk about today in 3rd & 4th quarter planning.
1:36 – Item 1: IRA and Roth IRA planning. Opportunity to evaluate your accounts and see if you can move money into Roth.
3:44 – Item 2: Charitable donations. Consider donating out of your IRA.
5:30 – Item 3: Update your retirement income estimates.
5:49 – Item 4: Rebalance the portfolio if needed.
6:23 – Item 5: Planning for taxes.
7:18 – Item 6: Make sure your legal documents are updated.
9:41 – Cash Connection, Question 1: What kind of annual return should I be seeking on investments in my retirement?
10:42 – Don shares a story about a recent experien…
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Aug 23, 2019
Should You Be Worried About Large Drops in the Stock Market?
A recent dip the in the stock market has stirred up some concern and worry amongst investors. Is it a sign that something worse might be up ahead or is this just another bump in the road?
Check out the full show notes by clicking here. ----more----
Today's rundown:
0:39 – Volatility returns to the market once again.
1:36 – Many of the same issues are lingering.
2:27 – There are still some positive indicators.
3:26 – This same phrase keeps coming up: “It’s different this time.”
3:59 – What does history tell us
7:33 – Should we be less worried than many people want us to be?
8:46 – If you diversify correctly, you can avoid these big losses.
10:07 – Technology has things worse.
10:42 – Don shares a story about a recent experience where technology wasn’t front and center.
13:10 – How an advisor can help guide you through the volatility and the concerns you have.
14:34 – Cash connection time on the show.
14:45 – Question #1: I’m being forced i…
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Aug 1, 2019
Should New Technology Influence Your Investment Strategy?
From a man walking on the moon half a century ago to self-driving cars by the end of the year, technology is always changing. So should our investment strategy change alongside it? It's a question we can't avoid anymore so we'll dive into it.
To see the full show notes, click here. ----more----
Here's the rundown for this episode:
2:39 - In the News: Ford claims it will have 100 self-driving cars on the road by the end of the year.
5:04 - Advanced safety features of a car are another form of technology being updated in cars.
6:16 - Broad diversification allows you to benefit from the movement of technology.
8:29 - Getting to Know You: What do you remember from the summer of ‘69?
12:53 - Technology has come a long way.
14:55 - Cash Connection: Forced into early retirement but too young for Social Security. Should I get another job?
15:47 - Look at your expenses, but don’t be afraid to spend your non-IRA dollars.
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Jul 25, 2019
How The SECURE Act Might Impact Your Retirement Planning
The SECURE Act passed in the House and brought with it 29 provisions that would change some of the decisions and actions you’ll take when planning for retirement. What are some of the top things you should be aware of? We'll discuss that in this episode.
Check out the full show notes by clicking here.
Take a look at what you can expect:
2:05 - One of the provisions in the SECURE Act would raise the required minimum distribution age to 72.
7:08 - The new bill removes the age limitation on IRA contribution.
8:18 - The option for a stretch IRA for heirs has been removed, which is one of the negative sides of the bill.
11:21 - Contact your senators to let them know about your thoughts, especially about the stretch IRA being removed.
12:20 - Getting to Know You: What is Don’s greatest accomplishment?
15:15 - Cash Connection: Are all long-term care insurance policies so expensive?
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Jul 3, 2019
"Fake News" Impacting Your Financial Life
The term “fake news” has become synonymous with the political climate of the past few years. But the phenomenon has spread to other parts of our culture as well. What about fake news in the financial space? We’ll look at some recent news headlines to see if they qualify to be labeled as “fake news”.
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Jun 20, 2019
Recent Headlines: Last Month's Volatility & Brexit
Major US stock indexes fell more than 6% in May, so we'll take a quick look back at last month and discuss what brought about these changes. And to continue with the news topics, we'll talk about recent updates on Brexit, and get Don's opinion on how we should take all of these news events into account in regards to our financal plans. We'll close out with an email question about the pros and cons of gifting assets.
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Jun 6, 2019
Plan Your Summer Vacation & Your Retirement
If you’re heading out on a road trip this summer, there’s a long checklist of items that you want to be sure you haven’t forgotten. And in retirement planning, some of those exact same items need to be addressed. Let’s look at some of the items that should appear on both your road trip checklist and your retirement planning checklist...
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May 16, 2019
5 Key Retirement Planning Mistakes
When it comes to retirement planning, it's easy to make a mistake that you can't undo. And oftentimes, it just comes down to the fact that you don't know what you don't know. So this week, Don sheds some light on the top 5 mistakes he has seen people make throughout the planning process.
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May 2, 2019
College Planning And The Looming Debt Crisis
Outstanding student loans currently total 1.5 trillion dollars, and according to a recent news event they may have a hand in our next major recession. We'll find out Don's thoughts on the debt crisis, and how we should take this into account when planning for our children and grandchildren's future college education.
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Apr 18, 2019
Presidential Candidates & Future Tax Rates
On this first episode of the "Your Money & Your Life" podcast, we'll get to know Don a bit better and find out how his background in the field has shaped his investing and holistic planning philosophies. After that, we'll dive into our first topic. Don will help us unpack the key points of the new tax code, and we'll learn how the upcoming election may affect both our future tax rates and our retirement accounts.
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Apr 3, 2019
Coming Soon - Introducing The Your Money & Your Life Podcast
Coming soon you'll be able to get great financial and retirement planning guidance from Certified Financial Planner Donald Cash in Red Bank, NJ on his new podcast, Your Money & Your Life. You'll get to hear two new episodes each month as Don helps you navigate the complexities of the financial world.
The first episode launches in April and don't forget to subscribe on iTunes and your favorite podcast apps.
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