Your Money & Your Life Podcast

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.

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

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?

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?

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?

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?

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?
 

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?