Your Money & Your Life Podcast

100th Episode Spectacular! Looking Back On Our Prior Shows

Welcome to our 100th episode of Your Money & Your Life! Today we’re taking a nostalgic look back at the past five years, from personal milestones to macro-economic events, such as the fluctuating real estate market and interest rates. We even rewind to some previous episodes, examining how our predictions on technology's role in investment strategies held up, and discussing the unforeseen impact of COVID-19 on our lives and finances.
 
Here’s some of what we discuss in this episode:
Don and Marc reflect on the past five years + podcast episodes from the beginning of the show. (0:43)
The podcast during COVID-19 + Don’s role as an advisor during that time. (8:26)
The impact of inflation in 2023. (14:54)
The slight easing of inflation + The Debt-To-GDP ratio. (18:43)
The importance of following time-tested planning principles and not making emotional financial decisions. (23:26)
 
Get in touch with Don and learn more: https://doncashpodcast.com/
 

Mailbag: Should I Sell The Family Farmland I Inherited? And More

We’re diving into the listener mailbag for today’s episode! We’ve received some excellent listener questions recently, and we’re going to dive into a few of them on today’s show. Doug asks where he should invest the money from his new raise. Sherry asks if she should lease or sell the family farmland that she inherited from her uncle. Tune in and see what you can learn from these listener questions! 
 
Here’s some of what we discuss in this episode:
Mailbag: I just got a raise, but now I make too much money to put into my Roth. Where should I invest my money now? (3:20)
Mailbag: My daughter is getting married this year and I don’t want to pay a lot of taxes by withdrawing money from our retirement accounts to pay for the wedding. Any advice? (9:34)
Mailbag: I inherited 100 acres of land from my uncle. I’m sentimentally attached, but should I just sell it? (16:28)
 
Get in touch with Don and learn more: https://doncashpodcast.com/
 

Should I Move to Another State to Save Money on Taxes & Expenses?

Many retirees bounce around the idea of moving states in retirement with the goal of saving money on taxes and expenses. It makes sense on the surface but will it benefit you as much as you hoped?
Today we’ll dive into the numbers, talk through some of the costs that blindside people, and help you better understand what needs to be evaluated before you make the move.
 
Here’s some of what we discuss in this episode:
The migration trend and what’s behind the move to different states. (2:20)
Here are some of the advantages. (5:31)
What you should consider if you’re approaching retirement and considering a move. (6:59)
Costs that often blindside people. (13:15)
A few more factors to pay attention to. (17:40)
The 3 big taxes you need to assess before moving. (20:40)
 
Get in touch with Don and learn more: https://doncashpodcast.com/

Artificial Intelligence: Should We Be Afraid?

Join Don and Marc as they dive into the fascinating world of artificial intelligence. Discover the potential risks, benefits, and the ever-expanding reach of AI across various industries. From AI-generated music and artwork to robot-advisors and facial recognition, AI is revolutionizing the way we interact with technology. In this episode, we’ll explore the origins of AI the blurred lines between reality and AI, and ultimately answer the question: should you be worried?
 
Artificial Intelligence or AI, which is something that we are constantly hearing about. We will dive into it and talk about the potential risks as well as the benefits and some land minds to avoid as consumers and also investors in this technology.
 
Here’s some of what we discuss in this episode:
The idea of AI has been around for a long time, and this technology will only become more common. (3:36)
The “technology turn” during COVID + Chat GPT. (10:41)
AI should be used as a tool and not to replace people. (14:33)
How video and voice technology is rapidly advancing. (18:38)
What can we do to protect ourselves? (21:02)
Being smart with your investing strategy. (24:11)
 
Resources mentioned on the show: 
ChatGPT - https://openai.com/blog/chatgpt
Tom Cruise Video - https://www.youtube.com/shorts/l7FH_-GAlz8
 
Get in touch with Don and learn more: https://doncashpodcast.com/
 

The U.S. Debt Ceiling Drama Continues

We’re back to discuss the ongoing battle over the debt ceiling in this episode. We’ll review recent federal budgets and expenses and compare these numbers to recent history. We’ll also dive into the impact of the COVID-19 relief spending, address some concerns about inflation, and share our thoughts about this situation as a whole.
 
Here’s some of what we discuss in this episode:
What’s the recent debt ceiling update? (3:26)
What’s driving the debates around this topic and what may occur in the next week. (5:35)
U.S. spending since the pandemic. (7:28)
Getting this spending back into check. (9:54)
What is the "Fear Index" and how does it relate to all of this? (13:55)
How people are spending money outside of Washington. (17:57)
 
Get in touch with Don and learn more: https://doncashpodcast.com/

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/