Your Money & Your Life Podcast

Double Trouble: Avoiding Double Taxation on Your Retirement Income

In this eye-opening episode, Don and Marc tackle one of retirement’s most overlooked traps: double taxation on retirement income. From after-tax 401k contributions to state tax rules that sneak up on unsuspecting savers, they break down how easily your hard-earned money can get taxed more than once, and what to do about it.
 
Here’s some of what we discuss in this episode:
💰 What “double taxation” actually means
⚠️ How NJ tax rules increase the risk
📉 The 401k rollover mistake that’s easy to make
📋 How Form 8606 helps prevent being taxed twice
📈 Strategies to protect both you and your heirs
 
Get in touch with Don and learn more: https://doncashpodcast.com/

The End of Taxes on Social Security? What Retirees Need to Know

What if taxes on your Social Security benefits disappeared entirely? That’s one of several proposals being floated in Washington, and in this episode, Don and Marc break down what it could mean for retirees. They explain how Social Security benefits became taxable, why outdated income thresholds are causing more people to pay taxes today, and explore the possible reforms being discussed.
 
Here’s some of what we discuss in this episode:
📉 Why more retirees are paying taxes on Social Security
🕰️ How outdated income limits haven’t kept up with inflation
💡 Legal strategies to reduce (or eliminate) Social Security taxes
📊 The "provisional income" formula
💬 State tax considerations for Social Security benefits
 
Resources for this episode:
No tax on overtime or tips and reduction of Social Security tax – Wall Street Journal
https://www.wsj.com/politics/policy/overtime-tax-plan-bill-103db323?st=bdShTX&reflink=desktopwebshare_permalink
IRS – How much of my Social Security benefits are taxable –
https://www.irs.gov/newsroom/irs-reminds-taxpayers-their-social-security-benefits-may-be-taxable
1984 Change to Social Security –
https://www.fool.com/retirement/2025/01/15/average-social-security-benefit-1984-now/
1993 Change to Social Security –
https://www.aarp.org/social-security/history-timeline/
Donald W. Cash Article on Planning in the May 2025 Slott Report –
https://irahelp.com/newsletter/C2PMay2025
 
Get in touch with Don and learn more: https://doncashpodcast.com/

The Garden State Giveback: Navigating NJ Property Tax Benefits

With headlines full of tariffs and political drama, it’s easy to miss a major win for New Jersey homeowners, especially retirees. In this episode of Your Money & Your Life, Don and Marc shine a spotlight on the 2025 NJ property tax relief programs that could save residents thousands of dollars. From the long-standing Property Tax Freeze program to the more recent ANCHOR rebate and the brand-new Stay NJ benefit, the guys break down who qualifies, how the programs work, and what’s changed. 
 
Here’s some of what we discuss in this episode:
🧾 NJ’s 3 Key Property Tax Relief Programs
📦 Why NJ is fighting to keep retirees from moving away
🏡 Stay NJ: Up to $6,500 in annual property tax relief
🔍 A few nuances of these property tax programs
📅 Key deadline: PAS-1 form due by October 31, 2025
 
Resources for this episode:
The Stay NJ Program –
https://www.nj.gov/treasury/taxation/staynj/index.shtml
NJ PAS-1 form (The unified Property Tax Freeze, Anchor Rebate and Stay NJ Program)–
https://www.nj.gov/treasury/taxation/pdf/24-pas1cp.pdf
NJ Income Tax Rates –
https://blog.turbotax.intuit.com/income-tax-by-state/new-jersey-109037/
NJ Income Tax for Seniors –
https://www.nj.gov/treasury/taxation/njit7.shtml
 
Get in touch with Don and learn more: https://doncashpodcast.com/

Tariffs, Tariffs, Tariffs

Tariffs, tariffs, tariffs- they’re dominating the headlines. With new tariffs implemented across nearly 90 countries, market volatility has surged, investor anxiety is rising, and confusion is everywhere. Don brings clarity to the chaos by explaining what tariffs actually are, who really pays them, and why the market is reacting the way it is.
Here’s some of what we discuss in this episode:
📦 What tariffs are and who’s really footing the bill
📉 How markets are reacting to tariff headlines
🔍 The inflation impact (and media spin)
📊 Why diversification still wins in volatile markets
🔁 Historical lessons from past downturns
 
Get in touch with Don and learn more: https://doncashpodcast.com/

Stock Market Turmoil - Is It Time To Panic? Part 2

Today we’re piggybacking off last episode’s conversation about market volatility and the emotion that sets in for investors. Is this time different than market corrections of years past? People feel inclined to panic during turbulent times, so Don will explore that fear by breaking down what’s actually happening, investor fears, and what history can teach us about managing uncertainty.
Here’s some of what we discuss in this episode:
📉 Market corrections are normal—how should you handle the headlines?
💡 Reversion to the mean explains why recent big gains may not last
📊 How today’s market reminds Don of the late 90s/early 200s.
📈 Diversified portfolios historically weather volatility better
🧠 The key to confidence is having a plan—and sticking to it
 
Get in touch with Don and learn more: https://doncashpodcast.com/

Panic or Patience? The Truth About Market Drops & Smart Investing

In this episode, Don Cash tackles the pressing question on everyone’s mind: Should we panic about recent market drops? With the stock market experiencing sharp fluctuations and fears of a recession looming, he breaks down the economic landscape and provides a clear perspective on what really matters for investors.
💰 Don covers inflation to the "Magnificent 7" stocks—including the dangers of market concentration and why diversification is key. He also introduces a powerful storm analogy to illustrate how many investors live on an "Island of Complacency", ignoring risks until disaster strikes.
Here’s what we discuss in this episode:
🔄 The cyclical nature of market corrections – Why they happen & how to stay calm⚠️ Understanding investment risks – The downside of putting too much in one place📰 How media hype affects investor psychology – Separating fear from reality📊 Why diversification matters – A balanced portfolio can mean fewer sleepless nights🌪️ The “Island of Complacency” analogy – What happens when risk is ignored
 
Get in touch with Don and learn more: https://doncashpodcast.com/

Smart Tax Moves: Maximize Savings Before April 15th

In this episode, Don and Marc explore smart tax moves to consider before the April 15th deadline. They focus on ways to take advantage of accounts like IRAs and HSAs, as well as important deductions that often go overlooked. The conversation highlights opportunities to maximize savings for the 2024 tax year, covering everything from retirement contributions to charitable donations.
They also explore how certain tax moves can help you minimize your taxable income, whether you're self-employed or planning for retirement. This episode offers practical tips for anyone looking to make the most of their tax situation before filing.
Here’s some of what we discuss in this episode:
Tax forms to be on the lookout for in retirement
Strategies for maximizing IRA contributions
The benefits of SEP IRAs for self-employed individuals
Health savings accounts (HSAs) and their tax benefits
Tax considerations for charitable contributions and qualified charitable distributions (QCDs)
Resources for this episode:
HSA accounts –
https://www.irs.gov/publications/p969
1099 forms –
https://www.kiplinger.com/retirement/tax-forms-retirees-receive-and-what-they-mean
Wall Street Journal Article on 2024 Tax Planning –
https://www.wsj.com/personal-finance/retirement/retirement-taxes-contributions-withdrawals-guide-bc308053?st=MNY85o&reflink=desktopwebshare_permalink
 
Get in touch with Don and learn more: https://doncashpodcast.com/

DOGE, Tariffs and the real problem with Government Spending

We knew this year would bring plenty to talk about, and so far, it's certainly living up to that expectation. In this episode, Don and Marc dive into the key economic issues making headlines: government spending, tariffs, and the DOGE (Department of Government Efficiency).
With a new administration in office, they break down important economic indicators like inflation and employment, and discuss how tariffs impact both inflation and global trade. They also take a closer look at the history of tariffs, their economic effects, and why the Federal Reserve has decided to keep interest rates steady.
The conversation also covers the DOGE initiative, led by Elon Musk, the tensions surrounding the project, and the growing federal deficit and what it means for taxpayers. Tune in for a timely and thought-provoking conversation today!
Here’s some of what we discuss in this episode:
Current key economic indicators and recent Fed actions
The historical context of tariffs and their role in government revenue
The Department of Government Efficiency (DOGE) and it’s purpose
The controversy over DOGE’s authority and access to sensitive information
The impact of Government spending on Americans
Resources for this episode:
The US Debt Clock
https://www.usdebtclock.org/
Get in touch with Don and learn more: https://doncashpodcast.com/