The Money Huddle

New Year, New Regulations: Here Comes SECURE Act 2.0

Thu, 12 Jan 2023 11:00:00 -0500

While we were celebrating the holidays, Congress was busy at working passing a massive 1.7 Trillion Dollar Omnibus bill. Part of this bill included language for The Secure Act 2.0--- even more provisions that can impact Americans who are planning for their retirement years.

In this episode we briefly highlight several areas which include:

New rules for required minimum distributions
Additional areas for consideration in ROTH IRAs & 529 Accounts
Changes to employer matching & catch-up provisions inside employer sponsored plans

One of the realities of financial planning is that rules and regulations can always be subject to change. This is why planning is a process---not an event.

Thanks for checking out our podcast!

We make every effort to discuss topics that we believe are relevant for the families that we serve. If you have any topics that you'd like us to cover, you can email us at:
themoneyhuddle@vcplanning.com

Interested in working with our team? You can create a FREE report using our Asset-Map software program. Click here to get started!

IUL Policies: The Retirement Account of the Future? Or Just Hype?

Fri, 30 Dec 2022 07:00:00 -0500

One of the most commonly misrepresented financial products is Indexed Universal Life insurance. You may have heard these described as:

MPI strategy
Compound Accounts
Millionaire's ROTH IRA
The Secret Sauce that Millionaire use

...and the list goes on and on.

In this episode, we talk to an insurance specialist in an attempt to separate fact from fiction when it comes to Indexed Universal Life products. Take a listen!

Are Annuities The Devil?

Fri, 16 Dec 2022 07:00:00 -0500

One of the most polarizing financial products in the marketplace is annuities. Love 'em or Hate 'em, annuities are not going away.

In this episode, we sit down with 2 industry experts that specialize in the fixed insurance space--specifically, working with annuities. Some areas we discuss:

how opinions on annuities are influenced by advisors & compensation
understanding how annuities can mitigate risk
what annuities can do that other asset classes can't do
how annuities can protect one's lifestyle in retirement

Please take a listen---and don't forget to subscribe to our podcast!

An Annuity is a long-term financial product designed largely for asset accumulation and retirement needs. All guarantees are backed by the claims-paying ability of the issuing insurance company.

Lighter Than Expected (2 minute drill)

Tue, 13 Dec 2022 11:00:00 -0500

The next 48 hours could be significant investors, as they attempt to digest several important economic data points:

CPI comes in lighter than expected at 7.1% vs 7.3%
The Fed has its December rate announcement on Dec. 14th
Could we see some dovish comments or more doublespeak?

Also, SBF was arrested.... strangely, he was taken 1 day before he was scheduled to testify. Odd timing for sure. More and more, this FTX thing appears to be another scam where custody is at the heart of the issue.

The Market Bounce, Dad Jokes, and The Bumpy Road into 2023

Thu, 08 Dec 2022 07:00:00 -0500

In this episode:

ChatGPT writes us a new intro
The coming Fed decision
The latest market moves and economic data we're watching
When to get started with Retirement Planning
Sneak peek into upcoming Money Huddle episodes

The Midterms Are Over (2 minute drill)

Thu, 17 Nov 2022 07:00:00 -0500

In this episode, we make a quick recap of several news stories we are monitoring:

the outcome of the 2022 midterm elections
some canaries in the economic coal mines
a major political announcement

We end with a response to an age-old question: "What do you think of gold as an investment?"

Nobody is Coming to Save You

Wed, 07 Sep 2022 07:00:18 -0400

In this episode, our conversation focuses on the idea that someone, somewhere is going to ride in and save us from financial failure.

Americans have become champion consumers, yet we need to be champion savers. We need to shake off the feelings of malaise and get focused on our long-term financial goals.

While this doesn't mean that we cannot "live" some today, it does mean that many of us need to get re-oriented towards a retirement future that is going to look quite different than retirement of today.

The Inflation Enhancement Act

Mon, 15 Aug 2022 07:00:01 -0400

Please see show webpage for summary and resources related to this episode.

Bear Market Rally 2.0

Mon, 30 May 2022 11:57:36 -0400

The last 2 months have been brutal for investors, as the market has posted 7 straight losing weeks.... that is, until this week.

Are we seeing a reversal in the downtrend?

OR

Is this a bear market bounce?

Master of The Twitterverse

Tue, 03 May 2022 07:30:24 -0400

Elon Musk steps in to buy Twitter.

Negative GDP print for Q1 2022.

Student loan debt forgiveness and borrowing trends.

Annuities should be part of Retirement...but maybe not why you think?

Interview with Jon Lohr, CFA®, CFP®

Thu, 31 Mar 2022 14:20:41 -0400

In this episode with sit down with Jon Lohr to discuss several topics that are top of mind for investors today. Jon has a diverse background in corporate finance and investment management, and we enjoy bringing him on the show to hear his perspective on technical topics like interest rates, inflation, and the yield curve.

State of the Markets w/ Steve Osterink, Jr.

Wed, 09 Mar 2022 07:00:06 -0500

In this episode we are joined by Steve Osterink, Jr. to discuss some recent updates and current trends within the stock market.

For a full description, you can visit the show's webpage at:

https://vertexcapitaladvisors.com/our-podcast/state-of-the-markets-with-steve-osterink-jr

Is Delivery The Future?

Tue, 22 Feb 2022 07:27:17 -0500

In this episode we touch discuss a handful of recent topics:

-Walmart earnings and the growing trend of delivery / convenience services in retail and food industries

-The Fed's latest minutes

-Will SC see a state income tax deduction?

-The recent market volatility and how investors can think about the road ahead

Thank you for listening.

The Great Re-Rating Has Begun

Mon, 07 Feb 2022 07:00:56 -0500

In this episode, we discuss the current market and economic climate after January 2022.

A Brief Look at 2021

Wed, 22 Dec 2021 14:40:48 -0500

This year has been quite a ride. There were numerous stories that captured attention. In this episode, we stroll down memory lane and chat about some of the stories that stuck out to us. What events had the most impact on you in 2021?

The Rise of Omicron

Thu, 02 Dec 2021 14:58:20 -0500

While many Americans were enjoying Thanksgiving leftovers and Black Friday shopping, the news broke that there is a new COVID variant of concern.

Zillow Takes an "L" and Stable Coins FTW

Tue, 16 Nov 2021 10:02:48 -0500

In this episode we discuss:

A huge blunder by Zillow

The rise of Stable Coins in the US financial system

A time tested Retirement Income "rule" could be on shaky ground.

The COVID Retirement Boom

Wed, 03 Nov 2021 10:34:48 -0400

Inflation and The Great Resignation

Sun, 17 Oct 2021 21:56:22 -0400

In this episode we discuss some of the persistent trends resulting from the COVID19 pandemic--inflation and employees leaving their jobs.

Check it out.

If Quarterbacks Were Stocks

Tue, 07 Sep 2021 16:30:22 -0400

One of our favorite conversation topics in the office is sports. No matter the season, we find something to discuss aside from our day to day conversations about money. Football, however, holds a special place in our hearts. That's why we are back this year with another "If Quarterbacks Were Stocks" episode. We hope you enjoy.

Black Belt Mentality

Tue, 17 Aug 2021 10:30:03 -0400

Halftime 2021: An Interview with Steve Osterink, Jr.

Tue, 29 Jun 2021 15:53:51 -0400

This week's episode is the audio from our monthly webinar series. This month, interviewed Steve Osterink, Jr. about several topics that we are monitoring with markets and the economy. Hope you enjoy the interview!

Interview with Jon Lohr, CFA®

Wed, 16 Jun 2021 07:00:00 -0400

Jon Lohr is a valued member of our team, and for this episode, we coaxed him out of his black box to share some thoughts with our listeners.

Jon currently handles the daily investment research and portfolio management responsibilities for the Investment Team with Advisory Alpha. This involves asset allocation research, fund monitoring, due diligence, investment strategy evaluation and implementation, and performance monitoring.

Join us as we have a virtual chat with Jon!

How Can You Turn a 45k Profit into an 800k Tax Bill?

Fri, 14 May 2021 15:08:57 -0400

Be Mindful of One Way Doors in Retirement

Mon, 19 Apr 2021 09:55:49 -0400

Planning for retirement involves many different (and sometimes difficult decisions). Pay close attention to some decisions that can only be made once.

How to Avoid Bad Decisions

Mon, 15 Mar 2021 08:58:34 -0400

In this episode, we discuss the new digital frontier for artists and creators that are using NFTs to get paid for their work. We also discuss a new Farnam Street blog that breaks down how we are wired to make bad decisions.

The Importance of Forward Progress

Mon, 01 Mar 2021 10:11:59 -0500

Investors should consider their true progress, not their activity, when it comes to reaching financial goals.

Revenge of the Little Guys

Tue, 02 Feb 2021 06:00:00 -0500

This week we take time on the show to explore the GameStop saga. A small army of online traders banded together and took on some major Wall Street hedge funds.

What looked like fun and games quickly became a huge story, as these traders watched their own trading platforms halt trading in real time. The story has been huge, and we haven't heard the last of it.

It's 2021. Pandemic Fatigue Is Real

Mon, 18 Jan 2021 06:00:00 -0500

Your Timing May Never Be Perfect

Wed, 30 Dec 2020 15:37:49 -0500

Will We See Student Loan Debt Forgiveness?

Wed, 25 Nov 2020 11:04:01 -0500

In this episode we discuss the latest updates on vaccine development, market trends, and the idea of student loan debt forgiveness coming from the Biden administration. Hope you enjoy the show!

Is The Recovery Real?

Mon, 02 Nov 2020 11:34:44 -0500

This week's episode is our last show before Election Day, and we have several topics that we cover in this week's show:

The return of a fast food icon
Economic data from Q3 2020
Encouragement to investors about investing and election outcomes
Wise uses of stimulus funds and how you view stimulus payments
Generation X-- are they really more interested in guaranteed income?

Hope you enjoy the show!

The Greatest Fear of Retirees

Mon, 26 Oct 2020 10:47:20 -0400

New Crisis, Same Low Rates

Mon, 12 Oct 2020 06:00:00 -0400

Does Amazon Have a Better Credit Rating than the US?

Mon, 05 Oct 2020 06:30:00 -0400

Money Stories: Interview w/ CT Kirk

Mon, 24 Aug 2020 08:56:00 -0400

Talking about money is somewhat taboo in our culture. While the trappings of personal finance are all around us-- homes, cars, clothes, etc.-- do you actually know what others believe about money?

Do you even know what you believe?

We are launching a series of interviews to explore and discuss finance on a personal level. Money is not taboo. It's just a tool. However, our ability to understand and use that tool can make us or break us.

Shifting Mindsets: Is the Pandemic of 2020 Leaving a Mark?

Tue, 28 Jul 2020 15:31:31 -0400

In this episode, we explore the rise of Tesla, the gamification of trading and millennial investors use of exotic investments, and how the pandemic may be driving people into early retirement.

How Healthy Is Your Money Mindset?

Mon, 20 Jul 2020 06:30:00 -0400

In this episode, Michael sits down with a financial therapist, Ed Coambs, to discuss the interior side of money. This topic is too broad to cover effectively in 1 hour, but we covered multiple areas of interest for those who want to understand how our life experiences can shape our views about money.

The Great Reset of 2020

Tue, 30 Jun 2020 16:55:30 -0400

Earlier this year, there was a new virus that was spreading fast overseas. It seemed like a threat, but no one seemed to know for sure.

Then it hit us.

The Coronavirus Pandemic has etched itself into history, changing the way we do almost everything. For many companies, that means changing their way of doing business and how they manage cash flow.

In this episode, we explore how some companies are responding by cutting dividends or examining their dividend policy moving forward. For folks relying on dividend income to fund their retirement spending, this could be a paradigm shift.

Some of the articles we discuss:

https://politicalcalculations.blogspot.com/2020/05/dividends-by-numbers-in-april-2020.html#.XvOMo0VKhPY

https://seekingalpha.com/article/4351939-dividends-numbers-in-may-2020

https://www.al.com/alabamafootball/2020/06/the-real-impact-of-alabama-football-far-below-2-billion-still-significant.html

https://www.nytimes.com/2020/04/24/business/coronavirus-stocks-investing-dividends.html

https://www.cnn.com/2020/04/01/investing/dividends-coronavirus-recession/index.html

How Can Business Owners Plan Their Exit Strategy?

Mon, 04 May 2020 09:25:42 -0400

In this episode, we have a special guest, Paul Fackler. Paul and his team at thecbagroup.com work with business owners who are looking to retire or sell their business.

It may surprise you that selling your business can be more complex than you think. We discuss the many areas to consider when it comes to planning your exit strategy as a business owner. If you're a business owner nearing a transition phase of life, this episode is for you.

Quarantine Chronicles Episode 2

Mon, 20 Apr 2020 10:44:41 -0400

In this episode we reflect on the terrible economic news that is coming our way, starting with unemployment numbers. We discuss our thoughts about why these numbers are going to be horrific, and at the same time, we chat about how we can look for a path to recovery.

Quarantine Chronicles: Episode 1

Mon, 13 Apr 2020 06:00:00 -0400

While we are stuck at home, we are making the best of things and trying to continue discussing events as they unfold. In this episode we discuss the CARES Act and some folks who could potentially benefit from the recent legislation.

There are multiple pieces to this legislation- from stimulus checks to penalty-free distributions from retirement accounts. This is fresh legislation, and we continue to get updates from Congress about how this will play out. Enjoy the discussion.

Positivity: It's Time to Refocus Our Emotions

Sun, 29 Mar 2020 20:42:49 -0400

As we move full swing into the Coronavirus media cycle, we are getting a constant barrage of negative headlines. Despite the serious nature of what's happening, there are some very encouraging and positive developments happening. We chose to speak about a few of these "happy" topics instead of the negative ones.

Coronavirus: Opportunity or Disaster?

Mon, 09 Mar 2020 06:00:00 -0400

By the time this show is published, the narrative on Coronavirus will be firmly entrenched in the media cycle. Fear, Doom and Gloom are running rampant, and there are growing concerns of what this latest threat could mean for the global economy.

We make an attempt to put this latest crisis into context, and we also discuss some positive money moves you can be doing at this time along with some potential outcomes we may see when this virus runs its course.

https://www.worldometers.info/coronavirus/

https://finance.yahoo.com/news/58-americans-less-1-000-090000503.html

https://www.bls.gov/opub/ted/2009/apr/wk1/art02.htm

https://www.creditcards.com/credit-card-news/rate-report.php

Bloomberg math tweet --

https://twitter.com/KFILE/status/1235808311834021888?s=20

How Can You Start Investing in Real Estate?

Mon, 02 Mar 2020 06:00:00 -0500

One of the most frequently discussed topics when it comes to investing is WHAT you should be considering as an investment. Many people also wonder what kind of investments make sense for them as they grow their wealth and look toward retirement. Real Estate investing is a popular topic, and there are some investors who are completely devoted to real estate as their means of building wealth and their retirement.

We decided to sit down with Jay Rinehart of Rinehart Realty, one of our local real estate experts, to discuss the basics of investing in real estate and how you can begin that journey. Enjoy the show.

How Can You Prep for Tax Season?

Mon, 03 Feb 2020 06:00:00 -0500

In this episode, we sit down with our friend Thomas Brown of TT Stein, a local tax team. We chat about some tax prep basics, and we also ask him to reveal what he believes to be one of the biggest mistakes people make when it comes to their taxes. We hope you enjoy the show!

2020 Begins - Retirement Era Ends January 2020

Mon, 13 Jan 2020 06:00:00 -0500

In this episode, we spend some time discussing some updates involving the SECURE Act, a new piece of regulation involving the retirement system here in the US. The end of the Stretch IRA will likely result in the need for some people to review estate plans and beneficiary designations on retirement accounts.

We also spend some time discussing the failure of yet another large pension plan and why this could be a significant indicator for the road ahead.

Some of the articles we discuss in the episode can be found in the links below:

https://www.postandcourier.com/news/south-carolina-s-looming-pension-crisis/article_dd4cd1e2-b03d-11e6-9d85-7b24e6e338ed.html

https://www.wsj.com/articles/mcclatchy-freezes-some-pension-benefits-as-publisher-seeks-bailout-11578007299

https://www.federalreserve.gov/releases/z1/dataviz/pension/funding_status/table/

https://www.coindesk.com/into-the-ether-90-of-all-eth-wallets-now-out-of-the-money

Market Memories: Christmas 2010

Fri, 06 Dec 2019 11:52:28 -0500

In this episode, we take a trip down memory lane to visit a headline that was shared with us by one of our listeners. Every year, they wrap their Christmas ornaments in newspaper, and this year they noticed they had an old headline from December 2010, which reflected the Dow just over 13k.

The question was "What would have The Money Huddle been discussing during December 2010?"

We also discuss the big news about Ron Rivera being fired as the Head Coach for the Carolina Panthers, why some folks can't take action, and the importance of experts.

Enjoy the show!

For articles and references check out:

Cramer's Meltdown- https://www.youtube.com/watch?v=rOVXh4xM-Ww

Bear Stearns article- https://www.history.com/this-day-in-history/bear-stearns-sold-to-j-p-morgan-chase

Study referenced came from-- Facilitating Financial Health: Tools for Financial Planners, Coaches, and Therapists, 2nd Edition 2nd Edition

If Quarterbacks Were Stocks Podcast 2019

Fri, 15 Nov 2019 06:00:00 -0500

In this episode, we had some fun comparing some NFL quarterbacks with stocks. This was both an attempt to be lighthearted and highlight some important challenges investors face when it comes to chasing returns, recency bias and the endowment effect.

We hope you enjoy the show!

Disclaimer: Nothing in this show should be considered advice or a recommendation to buy/sell securities. All price and return information was sourced from ycharts.com

Infinite Money Cheat Codes

Fri, 08 Nov 2019 06:00:00 -0500

In this episode, we discuss a recent discovery that was allowing online traders to generate almost unlimited trading leverage. We also dive into a recent article that revealed 10 Scary Statistics for Retirees and the fact that a certain insurance product still dominates in its marketplace.

To check out articles and topics discussed in this show, you can visit the links below:

Yahoo Article Infinite Money Cheat Code -

https://finance.yahoo.com/news/robinhood-traders-discovered-glitch-gave-164704113.html

Margin Accounts Explained -

https://www.investopedia.com/terms/m/marginaccount.asp

Youtube Video of Trader losing money -

https://www.youtube.com/watch?v=A-tNkuYV4_Q

ALCI Report -

https://www.acli.com/-/media/ACLI/Files/Fact-Books-Public/07FB19FChap7LifeInsurance.ashx?la=en

10 Scary Retirement Statistics -

http://bit.ly/10ScaryStats

Peter Mallouk Tweet About Private Equity -

https://twitter.com/PeterMallouk/status/1192081975508643843?s=20

The New Frontier For Investors

Fri, 01 Nov 2019 06:30:00 -0400

In this episode we discuss the recent announcements by multiple custodians that trading fees would be reduced to zero. This change made headlines recently, and it's been widely reported as a game-changer for investors.

What will the new frontier be for investors as cost barriers continue to face downward pressure?

This move only emphasizes how technology is opening up the investment world to new ideas and markets, yet we feel that the role of a trusted advisor is more crucial than ever.

We chat about investor behavior, the importance of a plan, college athletes getting paid, and the bank of mom and dad being alive and well.

Enjoy the conversation!

____________________

Articles we discuss in the show:

CNBC Article about trading fees

https://www.cnbc.com/2019/10/13/battle-for-client-assets-heats-up-as-brokers-cut-fees-to-zero.html

Jeff Bezos quote

https://www.goodreads.com/quotes/966699-i-very-frequently-get-the-question-what-s-going-to-change

College Athletes Getting Paid

https://www.cnbc.com/2019/10/29/ncaa-allows-athletes-to-be-compensated-for-names-images.html

Pew Research Center article

https://www.pewsocialtrends.org/2019/10/23/majority-of-americans-say-parents-are-doing-too-much-for-their-young-adult-children/?

Consistency Over Intensity:

Fri, 27 Sep 2019 06:00:00 -0400

In this episode, we discuss several topics:

-The demise of WeWork and how unicorn companies are being exposed in today's marketplace

-The perils of credit card debt and the impact it can have on your financial picture

-The idea that companies should get out of the retirement and healthcare business

-A tidbit from James Clear-- Consistency > Intensity

If you'd like access to the articles or resources we discuss in this show, check out the links below:

https://www.valuepenguin.com/average-credit-card-interest-rates

https://assets.bwbx.io/images/users/iqjWHBFdfxIU/ixtoFVX6eKiU/v1/-1x-1.png

https://twitter.com/ReformedBroker/status/1176548908077658113?s=20

Atomic Habits: An Easy & Proven Way to Build Good Habits & Break Bad Ones by Amazon

https://www.amazon.com/dp/0735211299/ref=cm_sw_em_r_mt_dp_U_hBpJDbC3DN9S5

Owning Your Bias and Scarce Understanding

Fri, 30 Aug 2019 06:00:00 -0400

In this episode we discuss the lost hours to hobbies such as fantasy football, financial professionals who can't seem to be objective, and the way people now value information because of ease and speed...not for understanding.

We also chat about what we've been reading and listening to lately.

Several of the articles we mentioned can be found at the links below:

https://thefsga.org/industry-demographics/

https://www.barrons.com/articles/financial-advisors-wear-more-hats-than-ever-51566938202

https://www.advisorperspectives.com/articles/2019/08/25/annuities-do-not-belong-in-401-k-plans

https://fs.blog/2015/08/in-praise-of-slowness/

https://www.stern.nyu.edu/faculty/bio/scott-galloway

Truth Over Facts - August 2019

Fri, 23 Aug 2019 06:30:00 -0400

In this episode, we discuss how some companies are looking to use their story or their vision to influence investors. It's no secret that some IPOs lately have disclosed some ridiculous risks in their S-1s. Are investors overlooking these risks because of a great story?

We also chat about how people who are planning for retirement could be using a flawed planning philosophy.

Lastly, we end up by asking an important question: Are Americans Doing Vacations in the Best Way?

Some of the references we discuss in the podcast can be found here:

https://www.benefitnews.com/news/unum-to-allow-workers-to-apply-pto-to-student-loan-debt

https://www.sec.gov/Archives/edgar/data/1533523/000119312519220499/d781982ds1.htm#toc781982_2

https://www.bing.com/search?FORM=SLBRDF&PC=SL10&q=DDD+Stock

https://www.bing.com/search?FORM=SLBRDF&PC=SL10&q=TLRY

https://www.economist.com/business/2019/08/08/holidays-are-good-for-workers-and-companies-alike

Could Retirement Be Outdated?

Fri, 02 Aug 2019 06:30:00 -0400

In this episode we discuss the latest revelations in what seems to be a new era for college admission scandals, the global retirement savings problem, and retirement itself--- Could Retirement Be Outdated?

Some of the references we mention in the article can be found at the links below:

https://www.propublica.org/article/university-of-illinois-financial-aid-fafsa-parents-guardianship-children-students

https://www.bloomberg.com/news/articles/2019-06-13/world-s-retirees-risk-running-out-of-money-a-decade-before-death

https://weforum.ent.box.com/s/w6cth9cdasx1k7g1vjnsqxttkv34t2su

All or Nothing:

Fri, 26 Jul 2019 05:30:00 -0400

In this episode we discuss another NFL athlete with financial issues, more IPO insanity, and the premiere of All or Nothing: Carolina Panthers.

For more info on some of the topics we discuss, check out the links below:

https://www.celebritynetworth.com/articles/entertainment-articles/floyd-mayweather-keeps-123-million-cash-checking-account/

https://www.cnbc.com/2019/03/25/wework-says-sales-more-than-doubled-last-year-but-so-did-net-loss.html

https://www.wsj.com/articles/wework-co-founder-has-cashed-out-at-least-700-million-from-the-company-11563481395

https://www.theadvocate.com/baton_rouge/sports/lsu/article_116f4336-acd2-11e9-9b43-43677be4c82c.html

https://www.lsu.edu/eng/about/pft-hall-overview.php

https://www.celebritynetworth.com/articles/sports-news/adrian-peterson-has-made-nearly-100-million-in-the-nfl-and-hes-still-broke/

Talking About Finances with Your Spouse and FinTech Banking

Fri, 12 Jul 2019 05:00:00 -0400

In this episode we discuss a recent article from Investment News that highlights the risks of some women who let their spouses control the finances. We chat about a few ways that couples at different phases of life can hopefully open up discussions about their shared financial goals. We also spend a few moments addressing a fast growing trend- online banks and banking apps that are creating some unique opportunities for savers and investors.

If you'd like read the article from Investment News, you can follow this link:

https://www.investmentnews.com/article/20190706/FREE/190709979/women-whose-spouses-control-the-finances-may-be-putting-themselves

Some of the other items we discuss can be found here:

https://www.forbes.com/sites/learnvest/2012/09/10/how-to-combine-finances-with-your-partner/#61d2f03be22c

https://www.chimebank.com/2018/04/30/how-does-chime-make-money/

https://thecollegeinvestor.com/17610/top-automatic-savings-apps/

Annuities: The Donald Trump of Financial Products

Fri, 28 Jun 2019 05:30:00 -0400

In this episode, we tip our cap to "Annuity Awareness Month" by discussing one of the most polarizing financial products -- annuities.

It's extremely rare to encounter a financial professional that doesn't have a strong opinion about annuities. In our view, annuities are one of the most marketed, yet least understood, financial products. Whether you love them or hate them, they aren't going away.

We think it's important for clients to be educated on annuities, and in this episode we touch on some areas we think are keys to understand.

Lastly, we briefly touch on a recent development in personal finance...where people are actually taking on personal loans to pay for their weddings!

If you'd like to read the article mentioned in the podcast, you can find it here:

https://www.washingtonpost.com/business/2019/06/19/married-debt-couples-are-taking-out-loans-pay-their-weddings/?noredirect=on&utm_term=.5fea7c0d00c9

Delayed Gratification and the Most Googled Financial Topics

Fri, 21 Jun 2019 05:30:00 -0400

In this episode we discuss how difficult it can be for us to practice the art of delayed gratification, using the NBA Free Agency system as an example. From there we move into the brilliant financial writing of Morgan Housel, and we finish up with a discussion on "The Most Googled Financial Topics."

Articles we reference in the show can be found here:

https://www.wealthmanagement.com/industry/seven-most-googled-financial-topics-united-states/gallery?slide=1

https://www.collaborativefund.com/blog/five-lessons-from-history/

The SECURE Act, a Major Sports Upset, and The Possible End of STRETCH IRAs

Fri, 07 Jun 2019 05:30:00 -0400

In this episode, we discuss some of the potential changes proposed in the SECURE Act, which is a retirement reform bill making its way through Congress. We also talk about coffee consumption and a recent upset in professional boxing--one that no one saw coming. Lastly, we focus on the effect of taxes in some states driving a flight to lower taxed states.

Some of the articles and ideas mentioned in this show can be found here:

https://www.bloomberg.com/news/articles/2019-05-24/migration-s-biggest-loser-is-connecticut-as-florida-profits

https://www.forbes.com/sites/jamiehopkins/2019/05/24/8-major-ways-the-secure-act-could-impact-your-retirement-plan/#22e908b63437

https://www.congress.gov/bill/116th-congress/house-bill/1994?q=%7B%22search%22%3A%5B%22Setting+Every+Community+Up+for+Retirement+Enhancement+Act%22%5D%7D&s=2&r=1

https://www.zillow.com/homes/for_sale/Fort-Mill-SC/fsba,fsbo,fore,cmsn_lt/90064647_zpid/31612_rid/globalrelevanceex_sort/35.160617,-80.618363,34.843394,-81.206818_rect/10_zm/0_mmm/

https://www.zillow.com/homes/for_sale/Cherry-Hill-NJ/fsba,fsbo,fore,cmsn_lt/38233600_zpid/37851_rid/globalrelevanceex_sort/39.980934,-74.849511,39.8324,-75.143738_rect/11_zm/0_mmm/

https://www.menshealth.com/uk/health/a27696049/drinking-up-to-25-cups-of-coffee-wont-harm-your-heart-says-science/

Gambling with House Money and Financial Sludge

Fri, 24 May 2019 05:30:00 -0400

In this episode with discuss a recent blunder by the winner of a large sports bet who suffered some serious overconfidence with his ability to predict future outcomes. We also dig into a common financial myth that is still being pushed by some folks in financial media.

Here are some of the articles we reference in this show:

https://dqydj.com/dow-jones-return-calculator/

https://dqydj.com/sp-500-periodic-reinvestment-calculator-dividends/

https://www.golfchannel.com/news/famed-masters-gambler-bets-tiger-grand-slam-win-10-million

https://www.cnbc.com/2017/06/18/the-sp-500-has-already-met-its-average-return-for-a-full-year.html

The Crash of the Iron Condor

Fri, 17 May 2019 08:04:28 -0400

In this episode, we discuss the growing concern about rising costs of long-term care insurance and how those over-hyped, "too good to be true" investment strategies can fall flat when markets get volatile.

For more details on the topics we discuss, you can check out the following links:

https://www.thinkadvisor.com/2019/05/02/genworth-says-it-needs-6-billion-in-additional-ltci-rate-hikes/

https://www.thinkadvisor.com/2019/05/01/2020-medicare-premium-hike-could-wipe-out-social-security-cola-for-many-retirees/

https://www.fidelity.com/viewpoints/active-investor/iron-condor-strategy

https://www.wealthmanagement.com/alternative-investments/ubs-clients-burned-iron-condor-strategy

https://seekingalpha.com/article/4236249-just-say-yes

http://www.theoptionsguide.com/iron-condor.aspx

The LYFT IPO, NFL Draft and Paying off a Mortgage Early

Fri, 10 May 2019 05:00:00 -0400

In this episode we discuss the recent IPO of LYFT, how NFL Draft analysis still doesn't guarantee a "sure thing," and the pros/cons of paying off a mortgage early.

If you'd like to see some of our calculations on the mortgage payoff scenarios, you can view them here: http://ow.ly/IvH330oH0O1

Some of the articles and topics discussed can be found at the following links:

https://seekingalpha.com/article/4252404-lyft-market-share-questions

https://www.axios.com/lyft-ipo-analysis-net-loss-profitability-49d3fe43-2e10-4e80-a03f-3349431127c9.html

https://www.sec.gov/Archives/edgar/data/1759509/000119312519059849/d633517ds1.htm#toc633517_4

NFL Draft Grades/Reactions http://www.nfl.com/combine/profiles/Robert-Griffin,%20III?id=2533033

Lyft sued by IPO investors for alleged overstatement of US ride share % (39% vs. 30%) and lack of disclosure of 1,000 ride share bikes being recalled for safety concerns. Risk factors in S1 disclose 911MM loss in 2018 and statement regarding potentially never becoming profitable or maintaining profitability. Maybe that is part of the problem?? Relate to draft grades vs. the reality of having a player on your team (lots of projection and guessing disguised as informed commentary).

Real Estate and Technology: Interview with Flint Foley

Fri, 26 Apr 2019 05:30:00 -0400

In this episode, we explore the various technology platforms available today and how they are changing the landscape of buying a home. Joining us is Flint Foley, our good friend and a real estate agent in the Charlotte, NC area.

Income Protection w/ Ken Bloch, Jr (Extended)

Fri, 12 Apr 2019 05:30:00 -0400

From time to time, we have to put something together that isn't the most exciting topic--but it's essential to a well-balanced financial life. In this episode, we serve up a healthy discussion on disability insurance AKA "income protection" and how it can be vital for one's household economy.

Our guest on this show is a good friend, Ken Bloch, Jr. If you are looking for a good resource for questions about disability or a place to refer clients with disability questions, I highly recommend The Bloch Agency. www.blochagency.com

Interview w/ Steve Osterink, Jr. CFA® CFP® AIF® (Part 2)

Fri, 05 Apr 2019 05:30:00 -0400

This episode is Part 2 of a 2-part interview we recently had with Steve Osterink, Jr. CFA® CFP® AIF®. We discuss investing topics like risk, asset allocation, market timing and diversification.

Feel free to email us questions or topics you'd like us to discuss at:

TheMoneyHuddle@vcplanning.com

Interview w/ Steve Osterink, Jr. CFA® CFP® AIF®

Fri, 29 Mar 2019 05:30:00 -0400

This episode is Part 1 of a 2-part interview we recently had with Steve Osterink, Jr. CFA® CFP® AIF®. We discuss investing topics like risk, asset allocation, market timing and diversification.

Operation Varsity Blues and Return of the Ponzi

Fri, 22 Mar 2019 05:30:00 -0400

In this episode, we discuss one of the biggest stories to break in 2019--the college admissions scandal that ensnared celebrities and elite families in the US. We also cover a few revelations of well-known financial personalities who turned out to be con artists.

Some of the articles we discuss in the show:

Jordan Goodman Story in NY Times

https://www.nytimes.com/2019/03/01/your-money/money-answers-man-jordan-goodman.html

Money Doctor Ponzi Scheme

https://www.wealthmanagement.com/people/sec-charges-texas-radio-host-196-million-ponzi-scheme?NL=WM-025&Issue=WM-025_20190313_WM-025_587&sfvc4enews=42&cl=article_1&utm_rid=CPG09000002828965&utm_campaign=19173&utm_medium=email&elq2=5dee8ce007e84af08ce216fe910a66da

TMZ Story on Celebrities

http://m.tmz.com/#!2019/03/12/felicity-huffman-lori-loughlin-arrested-college-admissions-bribery-scam/

ABC News Story on College Scandal

https://abcnews.go.com/amp/US/hollywood-actors-ceos-charged-nationwide-college-admissions-cheating/story?id=61627873&__twitter_impression=true

FBI Agent Report

https://www.justice.gov/file/1142876/download

SAT Percentile Rankings

https://blog.prepscholar.com/sat-percentiles-and-score-rankings

Social Security to Use FB

https://www.msn.com/en-us/money/personalfinance/facebook-instagram-posts-could-affect-your-social-security-disability-claim/ar-BBUVSBC

Life Scholarship Q&A

http://www.che.sc.gov/CHE_Docs/studentservices/life/FAQ-LIFE-3_2016.pdf

Entitlement Spending Set to Double and AOC's Tax Plan

Fri, 15 Mar 2019 05:30:00 -0400

In this episode, we discuss an epic fail from a cryptocurrency exchange, the exponential increase in entitlement spending, and AOC's tax proposals. A few themes we chat about:

With many assets moving to online access and reporting, we feel that it's very important to make plans in your estate to cover your digital footprints: social media, cryptocurrencies, and online accounts.

There's a new proposal regarding Social Security, the Social Security 2100 Act that could make waves with its proposed reforms.

AOC's tax plan could impact professional athletes in a major way.

Thanks for listening!

Articles / Videos Referenced:

https://www.youtube.com/watch?v=vQFaufWgCkM

Sample CA State Income Tax - https://smartasset.com/taxes/california-tax-calculator#mc1DK0D5vr

Stephen Curry Salary - https://www.spotrac.com/nba/golden-state-warriors/stephen-curry-6287/

Social Security 2100 Act - https://larson.house.gov/social-security-2100

Yahoo Finance Crypto Story - https://finance.yahoo.com/news/cryptocurrency-owners-apos-t-access-180045793.html

RootOfGood, FIRE Article on Obamacare Subsidies - https://rootofgood.com/obamacare_makes_early_retirement_easier_and_more_secure/

Bobby Bonilla, Money Happiness and Financial Literacy

Fri, 08 Mar 2019 05:30:00 -0500

In this episode, we discuss what could be considered one of the all-time great contracts for a professional athlete, how much money does or does not make us happy, and the shocking statistics about financial literacy in the U.S.

In this show, we reference the following articles and videos:

http://www.espn.com/mlb/story/_/id/16650867/why-mets-pay-bobby-bonilla-119-million-today-every-july-1-2035

https://nypost.com/2019/02/28/bryce-harpers-contract-wont-outlast-mets-bobby-bonilla-payments/

https://www.youtube.com/watch?v=7VuKfSdZWlg – Daniel Gilbert, Happiness

https://www.pnas.org/content/107/38/16489 - Daniel Kahneman, High Income Study

https://www.wyff4.com/article/1-point-5-billion-mega-millions-winner-comes-forward-says-simple-act-of-kindness-led-to-win/26632187

- Mega Millions Winner Comes Forward

https://www.investmentnews.com/article/20190302/FEATURE/190229936/financial-literacy-an-epic-fail-in-america

Millennials Owe 1T and Tax Refund Shrinkage

Fri, 01 Mar 2019 05:30:00 -0500

In this episode, we discuss the massive debt burden being carried by Millennials, disappointing tax refunds, and a cat that is likely the world's newest multimillionaire.

Some of the articles referenced in the podcast can be found here:

https://awealthofcommonsense.com/2019/02/whats-up-with-my-tax-refund/

https://www.cnbc.com/2019/02/21/karl-lagerfelds-cat-choupette-could-be-set-to-inherit-a-fortune.html

https://zerohedge.whotrades.com/blog/43382840196?gam=fcwn

https://www.bloomberg.com/news/articles/2019-02-25/millennials-face-1-trillion-debt-as-student-loans-pile-up

FYRE and FIRE:

Fri, 22 Feb 2019 05:00:00 -0500

In this show, we discuss two trending news topics--the defunct FYRE festival and the FIRE movement. The FYRE Festival is a perfect case study on how easily people can be influenced to spend money if the story you tell them is appealing enough, which is alarming. The FIRE movement is a new trend that's taking hold in younger generations.

RootOfGood, FIRE Article on Obamacare Subsidies - https://rootofgood.com/obamacare_makes_early_retirement_easier_and_more_secure/

Will Social Security Exist For Me?

Fri, 15 Feb 2019 05:30:00 -0500

In this episode, Michael and Ross discuss a question that is being asked more and more by younger couples:

"Will Social Security Exist For Me?"

There are many narratives that exist about the status of the social security program, and we think it's important for couples to understand how the program works. In this episode, Michael and Ross specifically reference a video posted by Stephanie Kelton, a Professor of Economics and Public Policy at Stony Brook University. You can view the video here:

https://youtu.be/6X51VPaXyr8

There is also a sample social security report that is mentioned in the program, and we have made it available for download.

Filial Laws and Plans for Aging Parents

Fri, 08 Feb 2019 16:10:40 -0500

In this episode, Michael and Ross discuss a news article from late 2018 which highlights a growing concern--people who are abandoning at-risk adults. It's possible that this type of behavior could result in the return or creation of filial laws.

Filial Law- Filial responsibility laws (filial support laws, filial piety laws) are laws in the United States that impose a duty upon third parties, usually (but not always) adult children for the support of their impoverished parents or other relatives. (Source: Wikipedia)

As caring for aging parents becomes more and more common, we encourage families to have a family meeting to discuss the plans for how to address this in the future.

Link to article discussed:

https://www.wkyc.com/article/news/investigations/man-with-alzheimers-sent-on-one-way-flight-to-denver-among-scores-of-patients-stranded-in-hospitals/95-615153854

The Retirement You Didn't See Coming

Fri, 25 Jan 2019 21:08:38 -0500

In this episode, Michael and Ross discuss early and unplanned retirement, which impacts a large number of workers today. Most of our thoughts about retirement revolve around how long we need to work and save so that we can retire on our own terms. However, for some folks, they don't get that chance.

Mentioned in the show:

Fox Business Article

https://www.foxbusiness.com/personal-finance/the-financial-struggles-of-unplanned-retirement

TransAmerica Study

https://www.transamericacenter.org/docs/default-source/retirees-survey/tcrs2018_sr_retirees_survey_financially_faring.pdf

Bitcoin 2019

Fri, 25 Jan 2019 08:59:10 -0500

In this episode we take a look back over the mania that was Bitcoin and cryptocurrency in late 2017. We review an article written by Michael during that time about Bitcoin's viability as an investment, and we take a look at how things have shaped up since then.

The article mentioned in the podcast can be found at this link:

https://www.linkedin.com/pulse/5-reasons-you-shouldnt-invest-bitcoin-michael-h-baker-cfp-ricp-/

How To Hire A Financial Advisor

Wed, 16 Jan 2019 10:50:17 -0500

In this episode, Michael shares some of his opinions on how to begin the process of hiring a financial advisor. He discusses some general areas that clients should consider when interviewing advisor candidates.

Should College Be About The Experience?

Wed, 16 Jan 2019 10:09:00 -0500

College can be one of the biggest financial burdens families with children are facing today. In this episode we discuss the college experience and some of our philosophy about selecting a college or university.