Your Money & Your Life Podcast

Weather the Storm and Don’t Lose Focus

Weather enthusiasts and retirement planning worlds collide… Each Fall we spend a lot of time watching and listening to the news and the Weather Channel getting reports of developing hurricanes and are treated to lots of updated graphics to bring us a refresher on how hurricanes work. So, let’s take the opportunity to see what we can learn about retirement planning from a discussion about hurricanes.
 
In this episode, we will talk about the volatility of the market. Are market dips something you should be wary of? What global events cause market changes? Let’s dive into some of the things that often make us lose focus as we invest for retirement.
 
Here’s some of what you’ll learn on this episode:
Why you need to accept that the value of the stock market will drop at some point. (6:11)
You must be careful not to be influenced by the wrong people. (10:44)
Here are some things you should look out for over the next few months. (16:26)
 
Additional resources: 
The “You Earned It, You Keep It Act” -
https://www.govtrack.us/congress/bills/117/hr8717
 
Workers leaving the workforce: 
https://www.nytimes.com/2022/05/19/business/economy/older-workers-labor-force.html
 
IRS Loses records –
https://www.crapo.senate.gov/news/in-the-news/weekly-column-why-did-the-irs-destroy-30-million-paper-returns
 
Emergent Intelligence –
https://unanimous.ai/emergent-intelligence-from-a-jar-of-beans/
 
Sir Issac Newton Stock Loss –
https://physicstoday.scitation.org/doi/10.1063/PT.3.4521#:~:text=However%2C%20he%20did%20lose%20a,a%20good%20bit%20more%20besides.

Inflation, Early Retirement, & Proposed Changes to Social Security

In a normal year, just one of these topics would be significant news for us to discuss, but 2022 is filled with headlines that impact retirement planning. On this episode, we’re going to provide an update on inflation and the indicators to be watching, share stats on the early retirement trend, and give you the truth on the latest proposed legislation that impacts Social Security.
 
Here’s some of what you’ll learn on this episode:
What’s the latest on inflation? (3:31)
Stats on the early retirement trends we’re seeing. (8:07)
What other effects have we seen due to COVID? (9:16)
The considerations you need to weigh for early retirement. (13:02)
The details on the ‘You Earned It, You Keep It Act’ and taxes. (15:46)
What’s the catch to this new Social Security legislation? (18:55)
Phil’s big takeaway from this bill as it relates to retirement. (20:31)
 
Additional resources: 
The “You Earned It, You Keep It Act” -
https://www.govtrack.us/congress/bills/117/hr8717
 
Workers leaving the workforce: 
https://www.nytimes.com/2022/05/19/business/economy/older-workers-labor-force.html

What the Inflation Reduction Act Means for Planning

Washington recently passed the Inflation Reduction Act, which on the surface appears to be aimed at solving the inflation problem. But there’s much more inside the bill, including a few different items that directly impacts financial planning. We’ll break down this new legislation on the podcast and highlight other laws that might be on the way.
 
Here’s some of what you’ll learn on this episode:
Don’s initial thoughts on the Inflation Reduction Act and how it impacts individuals. (5:10)
Why the SALT cap was being discussed a lot in New Jersey. (7:37)
What we need to know about the SECURE Act part 2. (10:21)
Required Minimum Distribution age pushing back even more? (15:37)
How to calculate RMDs from inherited IRAs and personal accounts. (19:16)
 
Inflation Reduction Act resources – 
https://www.ncoa.org/article/what-the-inflation-reduction-act-means-to-older-adults
https://www.morningstar.com/articles/1109390/the-inflation-reduction-acts-impact-on-retirees
 
NJ Property Tax Freeze – https://www.state.nj.us/treasury/taxation/ptr/
 
 
For more, visit us online: http://doncashpodcast.com

Lessons Learned: 40th Anniversary of the Historic Bull Run

For economic geeks like ourselves and those old enough to remember, this week will be seen as the anniversary of one of the greatest bull markets in history. It was on August 12, 1982, that the Dow Jones Industrial Average dropped to its low of 777 (lucky number) —almost precisely where the Index had closed in January 1964, more than 18 years earlier!
 
Here’s some of what you’ll learn on this episode:
Human nature doesn’t change and we’re still prone to the same financial mistakes today that we were back then. (5:10)
The issues the dealt with through the 60s and 70s seem remarkably similar to what we’re experiencing now. Guess what coming out of those tumultuous years? (7:49)
Why proper diversification could have produced really good returns during The Lost Decade to start this century. (11:25)
The major mistakes that we make when we’re near or in retirement. (16:40)
 
Visit us online: http://doncashpodcast.com 

Summer Heat and Economic Stress

There’s a heat wave spreading across the world right now, along with a lot of economic stress. On today’s episode, we’ll explore some expert opinions on our current bear market. Does Don agree or disagree with them?
 
Listen for these key points: 
0:29 – Did you have a good summer trip?
1:25 – Don’s daughter is getting married!
2:42 – What we’re going to analyze today
4:53 – Demand for services are still good
6:50 – Value stocks over growth stocks
11:18 – We can’t time the market
14:53 – Be aware of emotional decisions
17:20 – Mailbag – Do I really need an advisor?
 
Get additional financial information: https://doncashpodcast.com/episodes/

The Risk of Losing Financial Independence

Are we losing our financial independence to inflation, a possible recession, and longevity? On today’s episode, we’ll explore the various risks that can complicate your plan and your finances.
 
Listen for these key points: 
0:28 – Happy 4th of July!
3:20 – Fear of running out of money
6:06 – Life expectancy
7:48 – Pushing your plan to 90+
8:35 – Dying too young, living too long
9:32 – Costs for long term care
10:30 – So, what do we do?
12:38 – Long-term care coverage
13:34 – What about savings?
15:31 – The Investment Answer
16:18 – Reach out to a professional
18:32 – Watch out for confirmation bias
 
Get additional financial information: https://doncashpodcast.com/episodes/

Should We Be Worried? Inflation, Interest Rates and Bonds

With summer comes rising temperatures and this year, rising inflation! On today’s episode we’re going to discuss the importance of education, managing expectations, and understanding when it comes to navigating a volatile market.
 
Listen for these key points: 
0:40 – Are you ready for summer?
2:53 – Is this permanent?
4:56 – Raise rates fast or slow?
6:35 – Fewer people working
8:00 – What are we going to do?
10:59 – Education, expectation, understanding
13:52 – Preparing for unexpected
15:50 – Buying before a crash
16:34 – Looking at the big picture
19:21 – What do we do to protect our wallets?
21:08 – Don’t inflate your expenses 8%
22:39 – Expenses aren’t linear  
 
Get additional financial information: https://doncashpodcast.com/episodes/

Solutions to Investor Anxiety

Last week we spoke on the cycle of investor anxiety. How can we break this cycle and enjoy a fruitful financial future without the stress?
 
Listen for these key points: 
0:35 – This past Memorial Day
4:40 – Phase 1
7:02 – Phase 2
8:56 – Phase 3
13:19 – Phase 4 & 5
15:52 – How do we break the cycle?
18:12 – Change your news up!
18:45 – Maximize returns, minimize risk
20:50 – Let others be emotional
21:55 – Hire a holistic planner
 
Get additional financial information: https://doncashpodcast.com/episodes/