Your Money & Your Life Podcast

Bonds, Interest Rates, and Tax Proposals

You’ve probably heard about the recent tax proposals in Congress. How will they affect your financial future if they pass? Today we will discuss these proposals, while also taking it back to 1981 to discuss bond rates.
 
Read and get additional financial information: https://doncashpodcast.com/podcast/bonds-interest-rates-and-tax-proposals/
 
What we discuss: 
0:36 – Happy October!
4:07 – 1981 Articles
6:18 – Bond rates in 1981
7:34 – Bonds & CDs
10:01 – Investing hindsight
13:00 – What can cause an increase in interest rates?
15:47 – Proposed tax changes
18:56 – Not than many billionaires  

5 Financial Biases to Avoid

What can get in the way of your financial success? Today we are talking about a few financial biases such as the fear of missing out and overconfidence. We will also discuss how to avoid these biases.
 
Read and get additional financial information: https://doncashpodcast.com/podcast/5-financial-biases-to-avoid/
 
What we discuss: 
0:50 - How has the summer been?
2:11 - Why should we care about how behavioral finance?
5:41 - What financial biases do we have?
15:46 - Cash Connection: When should I file for Social Security benefits?

Finding a New Path and Perspective after 9/11

Today we have a special episode of the podcast for you. With the 20th anniversary of 9/11 approaching, Don invited special guest Kevin Haney onto the show to talk about how his work took a turn after September 11th and what it meant for his life.
 
Read more and get additional financial resources here: https://doncashpodcast.com/podcast/finding-a-new-path-and-perspective-after-9-11/
 
About our guest: https://www.growingfamilybenefits.com/about/ 
 
What we discuss on this episode: 
0:21 - Today’s guest is Kevin Haney.
1:54 - What was Kevin’s personal story and experience after September 11th?
3:58 - Kevin originally was booked on flight 93 but changed it.
5:42 - What did Kevin do after that close call?
6:39 - When did Kevin find out what was happening?
9:46 - How did Kevin’s perspective change after that?
15:08 - What did Kevin transition into?
16:27 - What was it like to change careers mid-life?
19:14 - The same skill set didn’t all transfer over. How did he pivot?
21:13 - What advice would Kevin give other people looking to switch careers?
28:31 - What was it like selling insurance?
31:04 - What was Kevin learning?
33:20 - How did Kevin find out about Jesus?
38:33 - What was it like meeting Doreen?
42:19 - What’s Doreen’s unique family situation?
45:47 - What are Kevin’s plans for the future?

Budgeting Time and Money - With Ten Kids!

Today we’re excited to bring on special guest Brien Dunphy,who is a business consultant that balances work with his familyof 10 kids in New Jersey! How do they possibly manage thefinances? (Hint: Brien is not rich or living on a trust fund) Listento Brien’s amazing story on today’s podcast.
 
Read more and get additional financial resources here: https://doncashpodcast.com/podcast/budgeting-time-and-money-with-ten-kids/ 
 
About our guest: https://www.briendunphy.com/ 
 
What we discuss on this episode: 
0:18 - Introducing special guest: Brien Dunphy.
3:40 - How did Don and Brien meet? What’s Brien’s background?
9:00 - What did Brien learn during his master’s program?
11:38 - What systems had to be put in place after having kids?
14:03 - What is schooling like?
17:53 - How did Brien end up doing what he does now?
21:44 - What does it cost to run a household annually?
30:15 - What does daily life look like?  
37:45 - What is Brien’s guilty pleasure?  
39:38 - What did they learn from their daughter, Hope?
 

The Hidden Value of an HSA

Do you have the option of contributing to an HSA for medical expenses? Why does this matter? Don shares why an HSA can provide big benefits later on and in retirement.
 
Read more and get additional financial resources here: https://doncashpodcast.com/podcast/the-hidden-value-of-an-hsa/ 
 
What we discuss on this episode: 
1:17 - Delta is making waves.
6:54 - What is the hidden value of an HSA?
9:28 - How is an HSA different from a typical health insurance plan?
11:56 - What are the benefits of an HSA?
13:36 - What are the rules?
16:16 - How do you get the money out in retirement?

Is It Still A Good Time to Refinance?

Is now still a good time to refinance your home? With record low interest rates, the past year has resulted in a lot of people choosing to refinance. If you haven’t done so already, have you missed your chance? On today’s episode of the podcast, Don talks through what kind of numbers to pay attention to as you determine what is best.
 
Read more and get additional financial resources here: https://doncashpodcast.com/podcast/is-it-still-a-good-time-to-refinance/ 
 
What we discuss on this episode: 
1:42 - Don’s facing a car shortage.
4:24 - Should you refinance your home?
7:58 - Why are the rates low while inflation is high?
11:28 - So it is still a good time?
15:53 - Should retirees consider selling or downsizing?
21:04 - Don’t fall victim to recency bias.

Passing Down An Inheritance

Leaving an inheritance is often a goal, but how can it be done effectively? We talk through the different mistakes to avoid and the things to pay attention to when estate planning.
Show notes & more resources: https://doncashpodcast.com/episodes/
Episode highlights:
0:38 - How does Don like to travel?
3:30 - Baby Boomers are starting to distribute record amounts of wealth.
5:29 - What’s the average inheritance?
6:04 - Some choose to gift to their children and grandchildren while they are alive.
9:21 - How did the SECURE Act impact inheritances?
10:54 - There are designated beneficiaries and non-designated beneficiaries. 
15:55 - How does the beneficiary form differ from a will?
19:36 - Cash Connection: What’s the best way to help my 18-year-old with retirement savings?

What To Do With Your Pandemic Savings?

Before you go wild with your funds as the country opens up again, what should you do with your recent savings? Don shares some strategies to make sure you accomplish your financial goals.
 
Read more and get additional financial resources here: https://doncashpodcast.com/podcast/what-to-do-with-your-pandemic-savings/ 
 
What we discuss on this episode: 
0:42 - Happy 4th of July!
1:34 - What should you do with your pandemic savings?
4:23 - Where should you invest?
6:09 - What do you want your money to do? Are you planning to travel?
9:13 - Does Don anticipate a strong third quarter?
14:06 - What is happening with inflation right now?
16:10 - Getting to Know Don: What’s one thing that always makes your day better?