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Thursday Feb 20, 2020
Coronavirus, Impeachment, & Election – How News Might Affect Our Retirement
Thursday Feb 20, 2020
Thursday Feb 20, 2020
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 to Know Don: What do you do to stay in shape during the winter?
Thursday Feb 06, 2020
Surviving The Sandwich Generation
Thursday Feb 06, 2020
Thursday Feb 06, 2020
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’s New Year’s resolutions going?
Thursday Jan 23, 2020
RMDs: Are You Billy Or Are You Bruce?
Thursday Jan 23, 2020
Thursday Jan 23, 2020
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?
Thursday Jan 02, 2020
2019 Financial Year in Review
Thursday Jan 02, 2020
Thursday Jan 02, 2020
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 leaving all his assets to his kids. Someone told me in New Jersey that you can’t leave everything to your kids. Is that true?
14:45 – What does Don’s planning process look like when it comes to estates?
16:57 – Getting to Know Don: What is something people would be surprised to know about you?
Thursday Dec 19, 2019
SECURE Act Update Heading Into 2020
Thursday Dec 19, 2019
Thursday Dec 19, 2019
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 in the year 2025 so the next few years are important.
10:21 – Cash Connection: I keep getting these fake emails from people claiming to be Nigerian bankers wanting to send me money. I know it’s fake but my friend opened an email that looked to be from American Express and ended up opening a link to a virus. How can I protect myself from all the scams out there?
15:25 – Getting to Know Don: Do you have any new year’s resolutions?
Thursday Nov 07, 2019
How Legal Documents Impact Your Finances and Retirement - Part 2
Thursday Nov 07, 2019
Thursday Nov 07, 2019
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 adult children to think about legal documents.
8:50 – How often should people be updating these types of documents.
10:36 – Cash Connection time
10:40 – Mailbag question: I keep hearing that if President Trump is impeached, the stock market will crash. What do you think I should do?
11:57 – Trivia Question: Who are the only two presidents to be impeached?
15:00 – Getting to Know Don: Any television shows that you’re into right now?
Thursday Sep 19, 2019
What Can We Learn From Interest Rates?
Thursday Sep 19, 2019
Thursday Sep 19, 2019
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 Dan: What universally well-known movie have you never seen?
To get the full show notes and additional resources, go here: https://doncashpodcast.com/podcast/what-can-we-learn-from-interest-rates/
Wednesday Jul 03, 2019
"Fake News" Impacting Your Financial Life
Wednesday Jul 03, 2019
Wednesday Jul 03, 2019
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”.