Your Money & Your Life Podcast

The Highlights & Lowlights - Wrapping Up 2020

As you wrap your gifts and prepare for the ball drop, we wrap up 2020 by reviewing the highlights and lowlights that happened this year. Can you believe all that’s happened?
 
Read more and get additional financial resources here: 
https://doncashpodcast.com/podcast/the-highlights-lowlights-wrapping-up-2020/
 
Download the strategies checklist PDF: https://doncashpodcast.com/wp-content/uploads/2020/12/7-Best-Strategies-for-Year-End-Planning-2020.pdf 
 
What we discuss on this show: 
0:39 - It’s beginning to look a lot like Christmas with snow for Don.
3:28 - Let’s do a year-end wrap up of 2020.
5:37 - January was when we were talking about the impeachment of the president.
6:28 - March we started the shutdown.
6:50 - Early summer we had protests and riots.
8:07 - By fall we were watching the election.
10:40 - What lessons can we carry into 2021?
15:05 - What habits have we changed?
18:10 - What other surprises has 2020 brought?

End of Year Financial Checklist + Market Update

We’re closing in on the end of the year, which is a great time to catch up on a little rest and relaxation. Before you do that, there are some financial items you should review before the calendar turns to January. We’ll run through a list of five planning considerations on this show, and we’ll also get Don’s thoughts on the recent surge in the market.
 
Read more and get additional financial resources here: https://doncashpodcast.com/podcast/end-of-year-financial-checklist-market-update/ 
 
Download the strategies checklist PDF: https://doncashpodcast.com/wp-content/uploads/2020/12/7-Best-Strategies-for-Year-End-Planning-2020.pdf 
 
What we discuss on this show: 
1:14 – Holiday update
5:29 – Market up nearly 10% in November, surprising?
7:16 – How much is vaccine and treatment related?
8:25 – Value vs Growth companies
13:46 – Roth conversions
16:07 – IRA hardship distribution
17:07 – Qualified Charitable Distributions
18:49 – Estate Planning

Evaluating the End of the Year 2020

As we near the holiday season and end of the year, what’s been happening in our country? How does it impact what we do in our own financial planning? Anything we should do before the year is over?
What does the election mean for planning for 2021, especially when we don’t have official results yet? Even without total clarity on our politicians, the economic results are coming back fairly strong, especially when it comes to consumer spending.
We'll talk about that on today's episode.
 
Read the show notes here: https://doncashpodcast.com/podcast/evaluating-the-end-of-the-year-2020/ 
 
What we discuss on this show: 
1:14 - COVID is spiking sadly.
3:52 - The election results are not yet finalized.
5:22 - The stories about possible vaccines are promising.
7:16 - What does a divided Congress mean for taxes?
9:10 - What moves should we make before the end of the year?
10:29 - Any changes with Social Security?
12:46 - What specific financial planning moves should we consider?
16:19 - What are long-term capital gains and qualified dividends?

How This Election Compares to Previous Years

Election Day is behind us but the results for this year’s vote are still unclear. As unusual as the 2020 election has been, there are some surprising parallels to previous years. Join us as we go through those and then discuss what we can be doing from a planning standpoint during all the uncertainty.
 
Read more and get additional resources here: https://doncashpodcast.com/podcast/how-this-election-compares-to-previous-years/ 
 
What we discuss on this show: 
0:29 - Election Day has passed 
2:30 - Will be a while before things get settled 
3:50 - Similar to the great election controversy of 1876 
7:17 - So how was that election resolved?
9:52 - What planning considerations do we need to have during all this?
12:59 - What do we do now?
16:17 - Gaining that peace of mind for your future

Planning for Social Security Benefit Changes

The federal government recently announced an increase to Social Security benefits for 2021 but it also came with an increase in Medicare premiums. On this episode, we’ll tell you what you need to know about these adjustments along with thoughts on additional changes that could come be coming down the road.
 
Read more and get additional financial resources here: https://doncashpodcast.com/podcast/planning-for-social-security-benefit-changes/ 
 
What we discuss on this show: 
3:22 - Mixed signals from the market with the latest news.
4:37 - Canceled debates
6:55 - Cost of living & premium increase in Social Security benefits
9:08 - Is Social Security going broke?
11:04 - Stats on claiming benefits
12:11 - Ways they could make the program solvent
14:28 - Reducing the inflation benefit
16:47 - How does this impact someone in retirement now?
20:38 - Getting to Know Don: What’s a habit that drives you crazy that some people might have?

Electionomics

What are some of the economics surrounding an election year? How will our president impact our economy? Let’s talk about the 800 pound gorilla in the room as we head into the final quarter of 2020.
 
Read more and get additional financial resources here: https://doncashpodcast.com/podcast/lets-talk-electionomics/ 
 
What we discuss on this show: 
1:39 - What does it take to go boating these days?
4:31 - What should investors and retirees be doing leading up to the election?
6:12 - What do the polls indicate?
11:17 - How do the markets react?
16:04 - Why do we see the economy working independently of the presidents?

Obsolete Financial Planning Axioms

Have you ever heard of the 10-5-3 rule? It’s one of the outdated financial planning axioms that just don’t make sense anymore. Today we’ll tell you why and explain interest rates, inflation, and factors that determine where we’re headed.
 
Read more and get additional financial resources here: https://doncashpodcast.com/podcast/obsolete-financial-planning-axioms/ 
 
What we discuss on this show: 
0:33 – An update on what’s going on with Don.
3:45 – The 10-5-3 Rule
9:07 – An example of how inflation works.
11:59 – Items with the greatest inflation.
14:06 – Could 10-5-3 rule become more relevant?
15:16 – Cash Connection: Should I be investing different since we have this election approaching in a few months. 

Stock Market & Real Estate Update

As summer winds down, the economy is still facing numerous challenges but you wouldn’t know it by looking at the stock market and real estate these past few months. Let’s try to make some sense of what we’re seeing in both markets and find out what Don thinks about the rest of the year.
 
Read more and get additional financial resources here: https://doncashpodcast.com/podcast/stock-market-real-estate-update/ 
 
What we discuss on this episode: 
0:48 – What’s going on since last show?
5:48 – What should we make out of these market gains?
10:19 – Tech driving the market
12:56 – How will the election factor into the market?
16:45 – How is the housing market staying so strong?
23:25 – Does Don have any clients thinking about cashing out and moving?
24:24 – Where is Don getting his news from these days?