Your Money & Your Life Podcast

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/

California Wildfires: What You Need To Know To Protect You And Your Family

Just this month, Los Angeles was ravaged by unprecedented, devastating wildfires. These catastrophic events have left thousands of homeowners grappling with total losses, denied claims, underinsurance, and unexpected coverage gaps. In the wake of these tragedies, it’s important to ask: Could this happen to you? Are you truly covered, or do you just think you are?
Here’s some of what we discuss in this episode:
The basics of homeowners insurance and what it typically covers
Having separate flood insurance if you live in a flood-prone area
Real-life examples of common insurance claims, like water leaks and fire damage
Why it’s important to review your insurance policy regularly
Links for today's show:
FAQ’s on Homeowners Insurance –
https://www.nj.gov/dobi/ins_ombudsman/om_hofaq.htm
NJ Homeowners Risks –
https://www.nj.com/cape-may-county/2025/01/insurance-companies-are-hiking-costs-dropping-nj-homeowners-more-often-due-to-climate-risks.html
https://www.cbsnews.com/newyork/news/weather-disaster-home-insurance-new-jersey/
Check your home’s elevation –
https://whatismyelevation.com/
 
Get in touch with Don and learn more: https://doncashpodcast.com/

What’s in store for 2025 AND …It’s been 25 years since Y2K! Lessons Learned

Happy 2025! It’s hard to believe that 25 years have passed since the world braced itself for the so-called “Millennium Bug.” For those old enough to remember, it was a time filled with fear, speculation, and intense efforts to prevent potential chaos.
This week, Don and Marc explore the parallels between then and now and reflect on the lessons learned from that era of uncertainty.
Here’s some of what we discuss in this episode:
Reflecting on the Y2K and its parallels to today
Lessons from the Dom-Com bubble
The importance of diversification in investing
Looking at history and learning from the past
Potential changes on the horizon in 2025
Market returns 2000-2010
https://www.bogleheads.org/forum/viewtopic.php?t=435176
Get in touch with Don and learn more: https://doncashpodcast.com/

3 Holiday Conversations to Have About Money

As the holiday season approaches, many of us find ourselves gathering with loved ones, sharing stories, laughter, and sometimes, unexpected topics. In this holiday edition of the show, Don brings a fascinating mix of cheer and wisdom to the table by helping you with three vital financial conversations you can have with loved ones this holiday season.
Here’s some of what we discuss in this episode:
What does Don think about the drones that have been over New Jersey?
Why you should talk with aging parents about their financial and legal documents.
The best approach to guiding children towards financial independence.
How to frame discussions with your spouse.
Don’s favorite Christmas movies.
Get in touch with Don and learn more: https://doncashpodcast.com/

Year End Roth IRA and Tax Planning

December is here, so in this episode, Don and Marc take a moment to look ahead at what changes may be coming in 2025, particularly when it comes to IRA planning and potential tax shifts. Listen in as they break down the key factors to consider when deciding whether to convert your traditional IRA to a Roth IRA, including tax rates, the timing of your conversion, and how it fits into your overall retirement strategy.
Throughout the conversation, Don shares some practical examples, such as how retired couples or those nearing retirement can benefit from converting at today’s lower tax rates. The episode also covers important considerations like Medicare premiums and the potential for future changes to Social Security taxation.
 
Here’s some of what we discuss in this episode:
Converting traditional IRAs to Roth IRAs vs deferring taxes
Ideal scenarios for conversions, such as being retired or working part-time before age 73
The potential impact of Roth conversions on Medicare premiums (IRMAA)
The advantages of being married for Roth conversions
Changes coming down the pike for 2025 to have on your radar
 
Get in touch with Don and learn more: https://doncashpodcast.com/

2024 Election Aftermath: Planning & Tax Implications – No Tax on Social Security?

After months of political debates and campaign ads, the election season has finally come to a close. While some of our clients are celebrating the results, others are feeling disappointed. However, the reality is that many of the key financial issues we faced before remain unchanged. Taxes, investing, Medicare, long-term care, estate planning—these are the areas we’ll continue navigating regardless of the election outcome.
In today’s episode, we’re going to discuss what we might expect now that the Republicans have secured control of the Senate and likely the House of Representatives. We’ll also dive into tax and planning considerations in the wake of the election and explore what lies ahead.
Here’s some of what we discuss in this episode:
The possible extension of the Tax Cuts and Jobs Act
State and local tax (SALT) proposals
The potential elimination of taxes on Social Security benefits
The Social Security solvency issue and proposed changes
Links for today's show
Federal Tax Rates –
https://taxfoundation.org/data/all/federal/2024-tax-brackets/
The SALT Deduction –
https://suozzi.house.gov/media/in-the-news/trump-signals-hed-restore-full-salt-deduction-democrats-are-skeptical
https://www.cnbc.com/2021/11/19/house-democrats-pass-package-with-80000-salt-cap-through-2030.html
Taxation of Social Security Benefits –
https://taxfoundation.org/blog/social-security-benefits-tax-inflation/
The Social Security Trust Fund and Future Cuts-
https://www.ssa.gov/policy/docs/ssb/v70n3/v70n3p111.html
The Debt Clock –
https://www.usdebtclock.org/
Get in touch with Don and learn more: https://doncashpodcast.com/