Thursday Apr 02, 2020
Coronavirus Update: Understanding the CARES Act
Your Money & Your Life Podcast
Financial and retirement planning guidance from Certified Financial Planner Donald Cash in Red Bank, NJ. Truly understanding what's happening inside your portfolio is so important to achieving retirement success. The planning process can be difficult if you tackle it alone, so make sure to listen to each episode to get great guidance and make the task much easier.
Listen on:
Episodes
Episodes
Thursday Mar 19, 2020
Thursday Mar 19, 2020
The coronavirus struck quickly across the country and it caused a rapid sell off in the market that has many people worried. How bad will this be? What can you be doing for your retirement plan? We get the latest from Don Cash with his perspective on what we’re witnessing.
Read more and get additional resources here: https://doncashpodcast.com/?p=257
Today's rundown:
1:24 - Let’s talk about what’s happening here and across the country with the coronavirus.
2:22 - Life has changed in many ways.
3:15 - Don talks about an app he’s been using to show gratitude daily.
4:23 - There’s not a lot of positivity in the news right now.
6:25 - Has Don been getting inundated with calls from clients? What kind of conversations is he having?
8:31 - What kind of financial topics are you covering right now?
9:30 - People are prone to react with fear in uncertain times.
10:44 - Is it a good time to buy?
12:44 - How do you see the government proceeding over the near term?
13:51 - People are looking for a v-shaped recovery.
15:01 - This time there’s no fear of a bank run.
15:58 - What are the things that can hurt your retirement plan right now?
18:04 - What other time of history would you rather be living in when it comes to dealing with this type of situation?
19:35 - With all the talk of selling, many people are actually adding.
21:30 - Getting to Know Don: What’s something you’ve done before that you’ll never do again?
Thursday Mar 05, 2020
Thursday Mar 05, 2020
Have you heard of inherited IRAs? The SECURE Act changed a lot of rules, including the details surrounding the inherited IRAs, so you’ll want to know how to plan accordingly.
Read more on this topic and get additional resources here: https://doncashpodcast.com/?p=244
Today's rundown:
1:27 - How has the SECURE Act changed things for us?
3:51 - How have inherited IRAs changed?
7:32 - Are there RMDs in the new rule?
9:26 - Which beneficiaries are exempt from this rule?
10:15 - If you listed a trust as your IRA beneficiary, you’ll want to revisit that with an estate planning attorney.
12:09 - Cash Connection: What are the contribution limits and rules for a Roth IRA?
17:42 - Getting to Know You: What is special about where Don grew up?
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
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
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
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
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 Dec 05, 2019
Thursday Dec 05, 2019
It was recently announced that the Medicare Part B monthly premiums and the annual deductible would be higher in 2020, so how is this amount calculated? We turn to Don Cash to explain Medicare premiums, IRMAA surcharges, and how it breaks down into different tiers.
Show Notes and Additional Resources: https://doncashpodcast.com/podcast/understanding-2020-medicare-premiums-and-irmaa-surcharges/
On This Episode:
0:32 – We made it through Thanksgiving (maybe a little heavier).
1:43 – In the News: It’s IRMAA Medicare season and more people are getting letters saying they’ll be paying a surcharge. Don explains.
6:16 – The five different tiers for surcharge levels.
7:44 – Where do people run up against these charges?
9:58 – Final thoughts from Don on IRMAA
11:39 – Time for Cash Connection
11:50 – Mailbag question: I’m in my mid-50s and I don’t have much saved for retirement at all. But I own my own business and I’m having a huge year so I’ll have some profits to invest. Can you give me some places to start?
14:11 – Getting to Know Don: What is your ideal way to relax after a long day or week of work?