Your Money & Your Life Podcast

Inflation, Infrastructure, and Medicare Increases in 2022

Inflation! We are seeing it everywhere. From the gas we buy to our Thanksgiving turkeys, prices seem to be going up everywhere. How does this affect Medicare? Well, you’ll probably be paying more on premiums. Will the infrastructure bill make inflation worse? That remains to be seen but you should stay vigilant. We will discuss these issues and how they impact you on today’s show.
 
Read and get additional financial information: https://doncashpodcast.com/podcast/inflation-infrastructure-medicare/
 
 
What we discuss: 
0:53 – Thanksgiving is coming up!
2:09 – Inflation is heating up
4:30 – Medicare premium letters
7:11 – 2020 tax year for 2022 Medicare surcharge
8:34 – Infrastructure bill passed
11:16 – Will the bill affect inflation?
13:02 – Investors navigating inflation
15:17 – Residential real estate investments
17:23 – Home prices in the past
20:55 – How does inflation affect retirement planning?
24:11 – Mailbag: Will I run out of money without a budget?

The ABC’s of Medicare

It is open enrollment season for Medicare! On today's show, we are going to discuss Medicare with expert Ray Martin. We will be covering the different types of plans, premiums, and tips you should be aware of as you reach age 65 and beyond. 
 
Read and get additional financial information: https://doncashpodcast.com/podcast/the-abcs-of-medicare/
 
More Resources: 
A Brief History of Medicare -
https://www.medicareresources.org/basic-medicare-information/brief-history-of-medicare/
Medicare Handbook –
https://www.medicare.gov/medicare-and-you
The Nuts and Bolts of Medicare Book -
https://martinmedicare.lpages.co/fmbcom/
 
What we discuss: 
0:45 – Our guest Ray Martin
2:27 – Medicare basics
4:09 – Part A and B Medicare
5:44 – True universal coverage
6:54 – Premium for Medicare
10:20 – Working past 65
12:36 – Medicare supplements
15:22 – Medigap policies
17:18 – Medigap premium range
20:19 – Irmaa surcharge
21:46 – Medicare advantage plans
27:15 – Advantage plans and out of pocket expenses
29:45 – Key dates Oct 15th – December 7th
33:15 – After open enrollment
36:35 – Big limitations with switching
37:34 – Part D prescription drug plan
41:04 – Mistakes to avoid during open enrollment

Important Ages in Retirement

What should you be planning for as you reach 50? What is the best age to take Social Security? Today, we are going to go over some key ages to be aware of as you plan for and approach retirement. 
 
Read and get additional financial information: https://doncashpodcast.com/podcast/important-ages-in-retirement/
 
What we discuss: 
0:30 – What’s new?
3:15 – Important ages
4:50 – Turning 50  
6:50 – Contributing a total of $7,000
7:44 – Exceeding 26,000 in 401k
10:01 – Turning 55 & 59 ½
12:05 – Going into our 60s
18:03 – Waiting till 70 for Social Security
23:11 – Going into our 70s

Bonds, Interest Rates, and Tax Proposals

You’ve probably heard about the recent tax proposals in Congress. How will they affect your financial future if they pass? Today we will discuss these proposals, while also taking it back to 1981 to discuss bond rates.
 
Read and get additional financial information: https://doncashpodcast.com/podcast/bonds-interest-rates-and-tax-proposals/
 
What we discuss: 
0:36 – Happy October!
4:07 – 1981 Articles
6:18 – Bond rates in 1981
7:34 – Bonds & CDs
10:01 – Investing hindsight
13:00 – What can cause an increase in interest rates?
15:47 – Proposed tax changes
18:56 – Not than many billionaires  

5 Financial Biases to Avoid

What can get in the way of your financial success? Today we are talking about a few financial biases such as the fear of missing out and overconfidence. We will also discuss how to avoid these biases.
 
Read and get additional financial information: https://doncashpodcast.com/podcast/5-financial-biases-to-avoid/
 
What we discuss: 
0:50 - How has the summer been?
2:11 - Why should we care about how behavioral finance?
5:41 - What financial biases do we have?
15:46 - Cash Connection: When should I file for Social Security benefits?

Finding a New Path and Perspective after 9/11

Today we have a special episode of the podcast for you. With the 20th anniversary of 9/11 approaching, Don invited special guest Kevin Haney onto the show to talk about how his work took a turn after September 11th and what it meant for his life.
 
Read more and get additional financial resources here: https://doncashpodcast.com/podcast/finding-a-new-path-and-perspective-after-9-11/
 
About our guest: https://www.growingfamilybenefits.com/about/ 
 
What we discuss on this episode: 
0:21 - Today’s guest is Kevin Haney.
1:54 - What was Kevin’s personal story and experience after September 11th?
3:58 - Kevin originally was booked on flight 93 but changed it.
5:42 - What did Kevin do after that close call?
6:39 - When did Kevin find out what was happening?
9:46 - How did Kevin’s perspective change after that?
15:08 - What did Kevin transition into?
16:27 - What was it like to change careers mid-life?
19:14 - The same skill set didn’t all transfer over. How did he pivot?
21:13 - What advice would Kevin give other people looking to switch careers?
28:31 - What was it like selling insurance?
31:04 - What was Kevin learning?
33:20 - How did Kevin find out about Jesus?
38:33 - What was it like meeting Doreen?
42:19 - What’s Doreen’s unique family situation?
45:47 - What are Kevin’s plans for the future?

Budgeting Time and Money - With Ten Kids!

Today we’re excited to bring on special guest Brien Dunphy,who is a business consultant that balances work with his familyof 10 kids in New Jersey! How do they possibly manage thefinances? (Hint: Brien is not rich or living on a trust fund) Listento Brien’s amazing story on today’s podcast.
 
Read more and get additional financial resources here: https://doncashpodcast.com/podcast/budgeting-time-and-money-with-ten-kids/ 
 
About our guest: https://www.briendunphy.com/ 
 
What we discuss on this episode: 
0:18 - Introducing special guest: Brien Dunphy.
3:40 - How did Don and Brien meet? What’s Brien’s background?
9:00 - What did Brien learn during his master’s program?
11:38 - What systems had to be put in place after having kids?
14:03 - What is schooling like?
17:53 - How did Brien end up doing what he does now?
21:44 - What does it cost to run a household annually?
30:15 - What does daily life look like?  
37:45 - What is Brien’s guilty pleasure?  
39:38 - What did they learn from their daughter, Hope?
 

The Hidden Value of an HSA

Do you have the option of contributing to an HSA for medical expenses? Why does this matter? Don shares why an HSA can provide big benefits later on and in retirement.
 
Read more and get additional financial resources here: https://doncashpodcast.com/podcast/the-hidden-value-of-an-hsa/ 
 
What we discuss on this episode: 
1:17 - Delta is making waves.
6:54 - What is the hidden value of an HSA?
9:28 - How is an HSA different from a typical health insurance plan?
11:56 - What are the benefits of an HSA?
13:36 - What are the rules?
16:16 - How do you get the money out in retirement?