Your Money & Your Life Podcast

U.S. Debt Ceiling And Federal Reserve Rate Hikes- Insights For Investors

In today’s episode, we’re going to dive into the pressing issues of the U.S. debt ceiling and Federal Reserve rate hikes. We’ll begin by unraveling the concept of the federal debt ceiling, examining its history, and shedding light on the federal government's current and prospective spending plans. Ultimately, we’ll discuss what all the recent buzz on this topic might mean for investors and whether there is cause for alarm. 
 
Here’s some of what we discuss in this episode:
Should we be concerned about the debt ceiling conversations in America? (2:21)
What exactly is the debt ceiling? (4:36)
What happens if the debt ceiling isn’t raised? (7:42)
Looking back at recent interest rate raises in comparison to today. (14:57)
So, what should investors do? (18:00)
What is the issue with higher bank rates? (20:50)
History repeats itself and diversification is important. (22:05)
 
Get in touch with Don and learn more: https://doncashpodcast.com/

What Is Reinvestment Risk?

Many of us have heard of typical investment risks, such as market risks, liquidity risks, credit risks, and concentration risks. But what is reinvestment risk? In today’s episode, we’ll explain what reinvestment risk is and how the fear of recent events might be driving this risk.
 
Here’s some of what we discuss in this episode:
Don discusses the fees for credit transactions that are becoming more frequent. (2:56)
What is reinvestment risk? (5:27)
The two classes of CD and bond buyers right now. (13:26)
How bonds should act as a stabilizer in a portfolio. (15:01)
How rebalancing, patience, discipline and understanding play a huge part in a sound investment strategy. (18:53)
Get in touch with Don and learn more: https://doncashpodcast.com/

The Taxman Cometh – 2023 Edition

What many people are starting to realize is that taxes in retirement might actually be more than they were when they were working. We’ve been taught our entire lives to defer taxes by contributing to an IRA and 401(k), but that ends up leaving retirees with more to pay down the road.
What’s important to know is that the taxman will cometh at some point, and it could be for more than you are paying today. Today we'll share some tax planning strategies that you should consider and point out a couple key areas in retirement where planning will be critical.
 
Here’s some of what we discuss in this episode:
As we finish our taxes for 2022, what should people be looking at for 2023. (2:34)
Where are the blinds spots for people in terms of taxes? (4:30)
How will the government pay off the rising debt we’re facing. (8:05)
One of the biggest strategies right now is utilizing a Roth. (12:20)
An example of how longterm care and medical bills play into tax planning. (14:28)
Why understanding the seven tax brackets are important. (20:01)
 
Get in touch with Don and learn more: https://doncashpodcast.com/

Bank Failures & Your Investment Planning – What’s Happening Now?

The biggest news in the financial world this month has been the failure of major banks like Silicon Valley Bank and Signature Bank. There didn’t seem to be any concerns about their stability even a few weeks ago, but things fell apart quickly.
So the obvious question is what happened and how will this impact me? In this episode, Don will provide a breakdown of what went wrong with SVB and how this might impact other banks across the country. Plus, we’ll touch on how this all relates to investing and retirement planning.
Here’s some of what we discuss in this episode:
A high-level look at banking and investing. (4:14)
What does the FDIC protect? (6:00)
What exactly happened with SVB? (10:34)
Should we worry that other banks have done something similar? (16:37)
How does this all tie back into retirement planning? (17:51)
 
Get in touch with Don and learn more: https://doncashpodcast.com/

What is ESG Investing? Don’t Get Fooled

This episode will help explain what ESG investing is and how it impacts your retirement planning. Plus, are these investments actually helping the environment and why is the government getting involved? Don Cash will sort out a lot of the facts on this topic so you’ll be more informed.
Here’s some of what we discuss in this episode:
What is ESG investing and why we’re talking about this today? (3:00)
Some background on how this began and where the money is being made. (5:33)
The fees can be significantly different for these investments. (8:22)
What classifies a company as an ESG company? (11:10)
What is the government’s role in all of this? (13:48)
Get in touch with Don and learn more: https://doncashpodcast.com/

Is Social Security Going Broke? Myths, Truths & Opportunities

What we want to do in this episode is make sense of what exactly is happening with Social Security and which concerns are legit and which ones might be overblown. This isn’t the first time Social Security has had to make adjustments since it was originally introduced in 1935, and we’ll take you through what has changed over the past nearly 90 years.
 
Here’s some of what we discuss in this episode:
Historical background on where we got to where we are today with Social Security. (4:11)
Here are the facts around Social Security right now. (7:57)
Why do we keep hearing about bankruptcy and whether the benefits will be gone soon? (10:11)
This isn’t the first time changes have been made to Social Security. (12:31)
What changes could be considered in the near future? (16:49)
Do you ever make too much money to qualify for Social Security? (23:12)
 
Additional Resources: 
Proposed SS changes - https://www.ssa.gov/OACT/solvency/
The Social Security Trust fund - https://www.ssa.gov/news/press/factsheets/WhatAreTheTrust.htm
 
Get in touch with Don and learn more: https://doncashpodcast.com/

Threats, Traps, and Tips for Tax Season

Tax season is officially here for 2023 and while many of us will slowly ease into it, now is the time to start thinking about what you need to accomplish over the next few months.
In this episode, Don is going to help you prepare for tax season by explaining the key documents that you’ll want to be on the lookout for, highlighting the financial planning conversations you need to be having with your advisor, and sharing a few tips for finding the right CPA.
 
Here’s some of what we discuss in this episode:
A new tax deadline for 2023. (4:11)
The most common forms you’ll need to be on the lookout for. (7:37)
The top financial planning action points to be considering. (12:04)
What type of CPA would be the best fit for you? (17:28)
Be mindful of these two things when preparing taxes with a CPA. (20:17)
The most common missed tax planning opportunities. (23:13)
 
Additional resources to help you with tax season: 
Groundhog Day - https://www.cnn.com/2023/02/02/us/groundhog-day-punxsutawney-phil-2023-trnd/index.html
 
Tax forms for 2022 filing - https://www.fool.com/taxes/the-13-most-common-tax-forms/
 
Tax Forms for retirees - https://advancedretirementstrategies.com/retiree-tax-document-checklist-what-documents-do-i-need-to-file-taxes/
 
Key Filing dates for 2022 Tax season - https://www.usatoday.com/story/money/taxes/2023/01/09/irs-taxes-file-efile-2023/11018054002/
 
IRA contribution rules - https://www.kiplinger.com/retirement/retirement-plans/traditional-ira/603958/traditional-ira-contribution-limits-for-2022
 
Get in touch with Don and learn more: https://doncashpodcast.com/

Landmines and Opportunities in SECURE Act 2.0

Another round of retirement changes are on the way after President Biden passed SECURE Act 2.0 into law on December 23rd. While we’ve been anticipating this legislation for a while, we didn’t know exactly what we be in the final bill.
Retirees and pre-retirees need to spend some time with their advisor to discuss what this legislation means, how it might impact you, and what planning opportunities this could open up.
 
Here’s some of what we discuss in this episode:
The required minimum distribution age moved back again. (4:11)
The complications with taxes surrounding Inherited IRAs still remain. (11:41)
Significant changes to workplace plans (17:10)
An update on the New Jersey ANCHOR program (21:45)
Don’s overall opinion on SECURE Act 2.0. (27:57)
 
Get in touch with Don and learn more: https://doncashpodcast.com/