In this episode, Don and Tom tackle the investor's most persistent foe—fear—especially during volatile markets. They draw on insights from Vanguard and others to reinforce the value of long-term investing, explain why missing a few key days in the market can devastate returns, and stress the importance of rebalancing over reacting. The duo also takes on political distractions, market timing myths, asset location dilemmas, and the emotional turbulence that causes people (including Don’s wife!) to question their portfolios. It all wraps with a cheeky new market jingle courtesy of ChatGPT and a shirt that reached Everest. Yeah, literally.

0:04 Welcome, podcast humor, and the pain of being downloaded
1:10 The recurring fear-driven urge to “do something” with your portfolio
1:33 Set it and forget it? Vanguard and others weigh in
2:44 Remember AOL? The danger of investing with confidence in the wrong thing
3:35 Volatility is the cost of real returns—don’t try to dodge it
4:50 Presidential influence and personal political biases in investing
5:50 Real portfolios with too few stocks and too much risk
6:55 Missing just 10 good days in the market could cut your returns in half
7:59 Buy and hold ≠ do nothing: how disciplined rebalancing works
9:17 Should you be buying international now? Maybe… but only if rebalancing
10:21 Feelings ≠ facts: don’t let emotions dictate portfolio moves
11:31 “Tune Out the Noise”—free advice and a free YouTube documentary
13:06 A musical market mantra written by ChatGPT
14:47 When even your spouse doubts your strategy: the advisor's personal dilemma
16:57 T-shirt spotted at Everest Base Camp—financial fame ascends
18:14 Can you contribute to a Roth IRA using last year’s wages?
19:54 Why young investors should love down markets
20:11 Asset location dilemma: comparing AVUV vs FISVX in 401(k) plans
23:54 Bedford, TX and a lesson in regional geography
24:31 Don’t chase performance—get help and rebalance smart
25:05 One more round of “Clueless is Smart”—market timing parody jingle

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In this extra-packed Friday Q&A episode, Don powers through a barrage of listener questions while recovering from an attempted heart ablation (yep, he's okay—but not fixed). He dives into everything from sketchy SIMPLE IRA fees and Roth rollover rules, to when it actually makes sense to take Social Security. You’ll also hear a checklist of questions to grill a potential financial advisor with, a primer on small-cap value stocks, and a lightning-round suggestion for international bond exposure. And yes, he dishes on why many advisors don’t actually want you to read those pesky prospectuses.

0:04 Don's in his VO booth—surgery didn’t go as planned
1:38 SIMPLE IRA fees: 5% commissions and better alternatives
3:53 Roth IRA strategy: match in SIMPLE, max out Roth with AVGE
8:35 Why that Raymond James advisor doesn’t want change
9:43 Social Security breakeven isn’t one-size-fits-all
11:35 Roth IRA transfer to Robinhood: does 5-year clock reset?
13:04 What to ask when hiring a financial advisor
16:06 Small-cap value vs. other stocks explained
18:59 Comment: Prospectuses scare advisors (and why)
21:42 Best international bond index fund? Try BNDX

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On this Talking Real Money episode, Don and Tom tag-team one of the biggest financial myths around: your house as a retirement plan. With over $35 trillion locked in U.S. home equity, they challenge the idea that owning a home equals wealth. From the emotional pull of mortgage payoffs to the liquidity traps of reverse mortgages and HELOCs, the duo breaks down the risks, rewards, and real returns of homeownership. Then it’s on to listener questions about IRAs, 401(k)s, rollovers, and... fiber (yes, the breakfast and internet kind). And they end with a little brag—because 154,000 monthly listeners can’t be wrong.

0:04 $35 trillion tied up in homes—does that make us rich or just house-poor?
1:20 Post-COVID home equity boom: 80% growth, but at what cost?
2:53 Renting vs. buying: the case for liquidity over bricks
3:44 Property tax pain for retirees and why Florida isn't so tax-free after all
4:21 Mortgage payoff: emotional win, financial mistake?
5:48 Why home equity shouldn’t be your retirement income plan
6:37 Housing’s historic returns: barely 3% pre-inflation
7:54 Forced savings illusion and the real cost of home improvements
8:45 If you’d invested instead of buying… you’d have more
9:35 Reverse mortgages, HELOCs, and why it’s harder to get cash out
10:19 Home equity lines now ~8%—not cheap or easy to get
12:30 Big picture: don’t include home equity in your retirement spending plan
14:05 Florida vs. California: which really costs more to live in?
16:38 Insurance, taxes, and Florida's fraud problem
18:50 Listener Q: Can you do both an IRA and a 401(k) in the same year? (Yes.)
20:40 IRA vs. 401(k): pros, cons, and personal strategy
22:53 Listener Q: Should we roll an old 403(b) to a Roth IRA?
23:44 Talking Real Money’s audience numbers: brag-worthy and booming
25:19 Retirement prep tip: match income to lifestyle before you retire

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Tom and Roxy Butner to co-host a packed episode of Talking Real Money, tackling the ever-elusive "magic number" for retirement with a healthy dose of realism, humor, and data. They dig into a Northwestern Mutual study that shows Americans lowering their retirement savings goals—even as confidence continues to slip. Roxy breaks down why retirement planning is all about cash flow, not some mythical lump sum. They field questions on company stock in 401(k)s, bonus check strategies, RMD tax strategies, and how to get young people started right. From Monte Carlo analysis to Roth IRA advantages, the duo bust myths and offer practical steps listeners of all ages can act on today.

0:04 Tom introduces Roxy and the episode’s core question: “Do I have enough to retire?”
1:01 Why the idea of a single “magic number” is misleading and varies by lifestyle
2:41 Roxy: $600k may be enough—or $3M might not be; it’s all about cash flow
4:32 Despite lowering their goals, only 51% believe their retirement plan will work
6:15 Roxy explains Monte Carlo analysis and why asset type (Roth vs. pre-tax) matters
7:31 Why tracking actual spending matters more than estimates before retirement
8:32 Caller: Should we sell the company stock in my wife’s 401(k)?
9:18 Tom warns of overconfidence and stock concentration risk, citing WaMu collapse
10:45 Roxy and Tom agree: diversify ASAP—don’t let company loyalty cloud judgment
12:14 Historical cautionary tales on once-great companies that fell apart
13:26 Regional bias: How geography skews investor confidence in local companies
14:46 Caller: What to do with a $20k bonus after maxing out the 401(k)?
16:11 Roth IRA contribution options for him and his wife, and the 5-year rule
18:10 Bonus: Enhanced catch-up contributions for ages 60–63 explained
20:31 Caller asks about RMDs, tax planning, and long-term care deductions
21:53 Only qualified charitable distributions (QCDs) avoid tax on RMDs
23:24 Roth contributions early in life can lead to massive long-term advantages
24:47 Caller asks about a bond fund change in her HRA and 60/40 portfolio safety
29:45 Why “safe” is the wrong word—know your plan, goals, and risk tolerance
31:13 Caller wants her daughter to connect with Roxy for help managing her paycheck
32:54 Yes—Roxy helps young clients with budgeting and financial foundations
34:31 Why early saving and simple investing in your 20s is so powerful
36:09 Tom announces upcoming trip to Portland and free portfolio reviews
37:08 Final notes: building trust, long-term planning, and why they love the work

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Tom Cock takes the mic solo (with Don recovering from a “procedure”) and brings in advisor Roxy Butner for a special live episode. They reflect on Warren Buffett’s decision to retire in 2025, discussing lessons from his value investing strategy and massive cash holdings. Listener questions roll in on topics like compound interest assumptions, the risks of holding company stock, ETF mechanics, and how best to diversify for retirement. They also recommend the YouTube documentary Tune Out the Noise, tackle behavioral finance biases, and offer free portfolio reviews—including Tom’s upcoming in-person trip to Oregon.

0:05 Tom hosts solo, Don out recovering, show call-in number shared
0:53 Warren Buffett announces 2025 retirement; lessons from his investing style
2:49 Value investing, risk tolerance, and why most portfolios ignore value stocks
5:05 Buffett’s ultimate advice: low-cost index funds, tune out the noise
7:09 Guest Roxy Butner joins the live show for the first time
7:28 Listener Q: YouTube doc Tune Out the Noise and Dimensional Fund Advisors
8:44 Listener Q: Using 7% return assumptions—how conservative is that?
10:53 Monte Carlo simulations vs. flat-rate assumptions in planning
12:32 Saving percentages, lifestyle choices, and setting early-retirement goals
14:04 You can't count on future returns—only saving and diversification
15:22 Company stock danger: bias, volatility, and concentrated risk
17:51 Behavioral finance: home bias and overconfidence in familiar firms
20:32 Listener Q from Orlando: DFIV vs. VEU, building a smart ETF mix
23:30 Discussing stock/bond ratios, fund tilts, and tax efficiency
25:34 Roxy’s advice: multiple funds offer tax flexibility in taxable accounts
27:16 Listener Q from Ottawa: Do ETF trades affect prices of underlying stocks?
29:59 ETF structure explained, flash crash risk, and long-term thinking
34:17 Listener wants a Talking Real Money nickname—challenge accepted
34:44 ETF vs. mutual funds in taxable vs. retirement accounts
36:19 Free portfolio reviews and Tom's May 21 visit to Lake Oswego
38:29 Roxy's biggest mistake she sees: U.S. large-cap overconcentration

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Don and Tom get real about the most important lessons every young person should learn about money—before life (and bad decisions) get in the way. From money values to compound interest, tax realities to the unpredictability of markets, they each offer a list of financial truths no teen should graduate without. Along the way, they drop stories from their own lives, take questions from listeners, and somehow end up discussing soccer (and why Don still doesn’t get it).

0:04 Back to basics: What young people really need to know about money
1:35 Why financial literacy is shockingly low and how Don is tackling it
2:47 Tom’s top five lessons: values, saving habits, compound interest, taxes, and risk
10:48 Don’s five(ish) truths: uncertainty, diversification, history, luck, and time
18:33 Bonus lesson: Save and invest for what money can do, not just to have more
19:04 Q&A: Should a 36-year-old shift from a target fund to DFAW and AVGE?
22:02 Listener wants to up international exposure without “buying winners”
24:47 Rebalancing tips: why it’s okay to shift your allocation now in retirement accounts
25:24 Reflections on past podcasts, Lit Reading, and leaving a legacy
26:30 Soccer vs. baseball: Don’s confused but still trying

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Don records this Q&A episode a bit early—right before heart surgery—to make sure listeners don’t miss their Friday dose. He kicks off with a listener confused by a boilerplate $50 foreign stock fee warning on a Fidelity Zero fund (spoiler: it doesn’t apply). Another caller is teetering on the edge of retirement viability with $500K, pensions, and Social Security—Don offers honest thoughts on withdrawal flexibility and why waiting on SSI might be wise. Then comes a takedown of Wealthfront’s direct indexing for small investors (aka “gimmickry”), a nuanced answer about annuitizing a pension vs. taking the lump sum, and finally, a nearly microscopic comparison of IXUS vs. VEU for international exposure. Birds chirp, bells ring, and Don reminds everyone that free help is just a click away

0:05 Early episode recording—Don preps for heart surgery
2:07 Fidelity Zero fund confusion over $50 foreign stock disclosure
5:40 Can I retire with $500K, two pensions, and a 60/40 Roth portfolio?
9:07 Is Wealthfront’s direct indexing portfolio worth it at $20K?
12:46 Should I annuitize my pension or take the lump sum?
15:30 IXUS vs. VEU for international diversification—does it matter?

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On this myth-busting episode of Talking Real Money, Don and Tom tackle persistent financial fables that sound logical but often lead investors astray. With help from a Kiplinger list and their own experience, they dissect myths around mortgage payoff returns, Roth conversions, Social Security fears, withdrawal rules, and tax refunds—plus three bonus myths that still haunt conversations today. Along the way, Don shares his own recent experience filing for Social Security online (spoiler: it was surprisingly smooth), and they answer listener questions about muni bond funds and a bizarre Social Security payback tax mix-up. As always, it’s myth-busting with a side of snark and a dash of real advice.

0:04 Myth-busting opener and Greek mythology jokes
1:03 Myth #1: Paying off a 5% mortgage equals a 5% return
5:14 Myth #2: Roth conversions always reduce taxes
7:57 Myth #3: Social Security is going bankrupt
13:20 Myth #4: The 4% rule guarantees retirement success
17:16 Myth #5: It's better to get a tax refund than owe taxes
18:54 Bonus myths: “I can save later,” “Investing is zero-sum,” and “High-cost funds perform better”
21:21 Listener question: Social Security payback tax confusion
26:42 Listener question: Best muni bond ETF for a high-tax-bracket senior

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Tariffs, fear, and stockpiling—oh my! Don and Tom break down how consumer sentiment, not just consumer spending, is shifting dramatically under the weight of tariff uncertainty. They connect behavioral shifts—like Googling “recession” and panic-buying tires—to bigger economic signals and what it all means for investors. From the role of emergency savings to the misleading pitch of indexed annuities, they dismantle hype and stress the importance of sticking to a real plan. They also field smart questions on Roth conversions, muni bonds, and whether now is the time to invest that idle cash. Oh, and don’t worry: most of our toilet paper is made right here in the good ol’ USA!

0:11 Consumers drive the economy—and investment returns
0:47 Sentiment is slipping fast, and it could trigger a slowdown
2:05 “Recession” and “depression” searches spike amid uncertainty
3:11 Tariffs shift what we buy: food in, luxury out
4:24 What investors should do now: boost emergency savings
7:22 Auto stockpiling and tariff-fueled panic buying
8:50 Prices rising, brand loyalty falling, and psychology shifting
10:27 Volatility confuses perception—despite flat portfolio returns
12:16 Emergency funds are real insurance without the gimmicks
14:14 Spry 102-year-olds and the power of Bulgarian yogurt
17:47 Best muni bond fund choice for high tax brackets: VTEB
20:31 Can’t milk a Buckeye, but they might ward off arthritis
22:52 Roth conversions: should you pay the tax now or wait?
28:57 Indexed annuities: steak dinners, sales tricks, and the ugly truth
34:16 Why the commissions are so high—and the returns so low
37:55 Got cash on the sidelines? Here's what to do before investing
39:27 Final advice: plan first, invest later, ignore the noise

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Our memories—and sometimes our parents'—shape how we invest, often more than logic or data. Don and Tom break down how generational financial trauma, recent market trends, and asset class myths (like gold and U.S.-only investing) skew our thinking. They call out flawed stock picking contests, revisit the real long-term returns on gold versus stocks, and explain why short-term memory leads to bad long-term decisions. Listener questions hit everything from where to park house savings to bond fund risks, rebalancing strategies, and simplifying retirement saving using the TSP. Oh, and yes, the laundry room podcast myth lives on, and the Fyre Festival somehow still smolders in the background.

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