In this day and age, who needs cash, right? You’ve got your debit card, credit card, and digital wallet. That should cover it. Well, sort of. We’re here to shut down all the myths and tell you that cash is making a comeback. Yes, that green paper with presidential faces and numbers, the dollars and cents you have in your pocket, and the stuff that’s chilling in your checking and savings accounts. It’s essential to have that liquidity, but did you know that instead of just letting it sit there like a bump on a log, it can actually get up to a 2% + return? We know, mind blown!

In this episode of A Place of Possibility™, we are diving into all things cash and why it’s important to be prepared in today’s world and economy. We will discuss:

• How much you should have on hand
• If you should have cash in your investment account
• Six options to help you get a reasonable rate of return
• FDIC Insurance

And more.

So, if you don’t have cash readily available or if you do and it’s just sitting in the bank, this is your sign to make some changes to get yourself prepared with liquidity and make a little extra on what you do have. Let’s get started. We’re excited to share our insights from this show.

According to a 2022 survey done by Caring.com, 1 in 3 Americans who do not have a will or a living trust claim they don’t have enough assets to leave behind. We call that crazy! Now we get it. Estate planning is not something that is top of mind. No one wants to think about dying or a future without them, but the reality is that estate planning is so much more than just preparing for when you’re gone. What about incapacity or special needs? How about qualifying for Medi-Cal or Medicaid and long-term care planning? And getting back to the “after death” part, do you really want your heirs to spend months or even years in court, potentially fighting and wasting the money you left behind? No! Estate planning is for everyone regardless of your assets. Building the right estate plan and staying on top of it helps you avoid costly mistakes, and ultimately, it protects the best interest of you and your loved ones. We’re thrilled to welcome friend and expert estate planning attorney Kirsten Howe to the show. For more than 20 years, individuals and families from the greater Walnut Creek area have trusted Kirsten and her team at Absolute Trust Counsel with unique individualized estate plans, trust administration, probate, Medi-Cal planning, special needs planning, and other estate-related needs, effectively securing their legacies. Together we will be discussing:

• The importance of a living trust
• How to solve disagreements among trustees and beneficiaries
• How often someone should update their trust
• Pros and cons of using online tools like Legal Zoom

And more.

Again, this is an important show for everyone, no matter where you are in your estate planning journey, so we hope you will find a quiet spot and start listening. We’ll join you in podcast land!

It’s hard to turn on the T.V., pick up the newspaper, or look at social media without seeing something about Russia, Ukraine, sanctions, gas, oil, etc. The list goes on. There’s so much noise and so much misinformation that it’s hard to know what’s what and how the Russian invasion is and will continue to impact the rest of the world and us here at home. So, to help sift through the information overload, we’re thrilled to welcome former U.S. Ambassador to Germany, John Emerson, to the show. John works in global distribution as the vice chairman of Capital Group International, Inc. and has over 20 years of experience with the firm. He most recently served as the United States ambassador to the Federal Republic of Germany. In 2015, John was awarded the State Department’s Susan M. Cobb Award for Exemplary Diplomatic Service, which is given annually to one non-career ambassador, and in 2017 he was awarded the CIA Medal and the U.S. Navy’s Distinguished Public Service award. Before accepting the ambassadorial posting, John was president of Capital Group Private Client Services. Prior to joining Capital, he was deputy assistant to President Clinton, where he coordinated his economic conferences, served as the president’s liaison to the nation’s governors, and led the administration’s efforts to obtain congressional approval of the GATT Uruguay Round Agreement and the extension of China’s MFN trading status. Additionally, he was appointed by President Obama to serve on his Advisory Committee for Trade Policy and Negotiations.

Interestingly enough, John was ambassador to Germany from 2013 to 2017, right when the whole Ukraine crisis started, so he’s observed the issues taking place overseas from the beginning. In this episode, we will be tackling some of the hard-hitting questions about the Russian invasion, including,

• What Putin’s trying to accomplish with the invasion
• How effective sanctions are
• How the Ukrainians have been able to hold off the mighty Russian army for this long
• If there will be serious long-term repercussions to our financial markets

And more.

While the situation is still very much unfolding, and we may have a way to go before we see an end to this crisis, we hope this episode and the insights from John will help ease your mind. We thank you for taking the time to listen or watch this episode, and we’ll catch you behind the microphone.

You may have heard this statistic from us before, but if you haven’t, did you know that 90% of families fail to keep their wealth for three generations? Why? The top reasons include lack of communication, lack of trust within the family, unprepared heirs, and no purpose for the money or family mission that is mutually agreed on. If one or more of these topics resonate with you, don’t worry. Hope is not lost. By learning to address these items, your family may be able to successfully keep its wealth for generations to come, and we will help teach you how.

In this episode of A Place of Possibility, we will give you actionable steps on how to hold family meetings that eliminate future conflict and foster purpose and harmony among your kids. Our tips and strategies include:

• How to encourage and rally your family to join the meeting
• The different meeting logistics you may need to consider
• All of the topics that should be discussed
• How to build an agenda
• Tips to cope with resistance

And more!

If you’ve been avoiding the estate planning discussion, this is your sign to finally make it happen. As we hinted above, avoiding it could be detrimental to your family’s well-being beyond the realm of wealth and finances. This is your chance to make your decisions heard and create an environment of understanding amongst all those involved. So, without further ado, let’s dive in!

Talking about money is difficult for people. If you’ve listened to our previous podcasts, you’ve probably heard us say that many of us grew up being taught not to talk about money. The problem is that it can lead to conflict, especially in relationships. As you may know, money is a top cause of divorce. It breaks relationships apart. We’re here to tell you that if you talk about money early in your relationships and have ongoing conversations about finances, it can actually be a bonding experience for you and your partner. That sounds great, right? But how do you get there? Well, you’re in luck! In this episode of A Place of Possibility, we are diving back into our “Getting Your Financial House in Order” series to give you the nuts and bolts of how to have the money talk with your significant other. We will discuss,

• How to set the stage or foundation to begin this conversation
• What types of questions you should be asking each other
• The five different methods to managing finances
• How to find compromise if you have two completely different views on budgets, spending, debt, credit, etc.

And more! No matter where you are in your relationship, it can be challenging to know how to start this topic of conversation or even continue the dialogue. Our goal is to help you level the playing field, ultimately bringing you closer. You and your partner don’t have to be a perfect money match, but you should understand where the other is coming from to help find solutions that work for you both. So, let’s get started!

Podcast family gather round. Richard and Angela are back with another stock market reality check. As investors, many of us know that the stock market fluctuates daily. That’s just what it does. It can be a hard thing to wrap your head around when you have a well-diversified portfolio, and all you see is red – the charts show downtrends, and the news is screaming at you. First things first, turn off the dang news and stop following the trends. It’s a beautiful thing to have that diverse portfolio under your belt, especially when things turn around and all you see is green, literally, because you’ll end up coming out on top.

With all that being said, we understand it can be hard to put your emotions away and cope with market meltdowns. So, in this episode, we will give it to you straight and prove that there is absolutely no reason to fear a down day. We have some charts some historical facts, and we will share insights on:

• How to make the most of a down market versus letting that type of market own you!
• Changing your perspective to see a market decline as an opportunity.
• Politics, because they have no bearing on long-term financial success. Never have and never will – at least that we know.
• How to not let your emotions get the best of you.

And more!

So, if you’re someone who is always anxious about the constant up and down or just can’t take the investment heat, it’s time to grab your headphones and take a walk with us. We promise you will feel A LOT better when you hear what we have to say. It’s time to stop losing money, so let’s get started!

More often than not, financial conversations tend to be a challenge. After all, money has been proven to be a significant stressor on marriage and familial relationships. Nearly half of all marriages end in divorce, and one of the two biggest reasons is that darn green stuff. And when we’re young, the majority of us are taught that talking about money is taboo. How many of you remember your parents telling you not to talk money or politics at the dinner table? Yes, we see those hands out there. The problem is, talking money is one of the most critical conversations you can have with your significant other. You can’t just sweep a spending or saving problem under the rug. That will just cause more issues. If you bring two different viewpoints to the table, that’s okay. You need to hash things out, but we get it. Money is tricky, so we’re here to help.

In a new episode of A Place of Possibility™, we are thrilled to welcome guest Andy Bryce to the show. Andy is a therapist with more than 30 years of experience helping couples and families with their relationships. Over the years, Andy has helped us break down challenging financial conversation barriers with our clients. In this episode, we’re discussing some of the psychology behind certain financial perspectives and how to approach money discussions with your significant other effectively. We will discuss:

• Why a person’s background is a major obstacle
• Spouse expectations and how they impact the conversation
• The role of power and powerlessness
• Vulnerability
• Tactics to avoid conflict

And more!

The time is now, folks. If you’ve been putting off these types of conversations, find a quiet spot, grab your partner, and press play. It’s not too late to get started and find a solution. We hope that you will be able to turn this discussion into a bonding moment for your relationship rather than a breaking point.

The holidays are coming to an end, and tax season is just around the corner. That means there are documents to gather, figures to add up and accounts to get in order. This can be an overwhelming task for even the most prepared individual, but it's so important to help you save some big money and end 2021 strong. We know, it's a lot easier said than done, so if you are one of many dreading this time of year, team DMG has your back. In this new episode of A Place of Possibility, Richard and Angela cover everything you need to know and should include in your year-end financial checklist, including:

• Why you may want to avoid having money in regular IRA accounts
• Maximizing your retirement contributions
• How to save through charitable contributions
• Organizing your portfolio
• Making sure you don't unknowingly increase your Medicare premiums in 2023
• Tax-loss harvesting
• Taxable gains harvesting

And more!

Our goal is always to ensure that your money works for you. And we hate to say it, but time is running out. So, if it's been a while since you've had a good look at your finances, now is the time. With our year-end checklist, we will help you get the most out of your money and save big time. The New Year is almost here. Press play today!

If you’re thinking about purchasing a home or refinancing, chances are you’ve got a ton of information flying at you. And with that, you probably have many questions, like: What’s the current mortgage rate? What type of loan is the best deal for me? What exactly do I need to know about Fannie Mae and Freddie Mac? Does the Fed actually have an impact on rates? And the list goes on. Trying to keep up with the ever-evolving mortgage market can be a job, literally. Surprisingly, people tend to have more opportunities than they realize. In a new episode of A Place of Possibility, Richard and Angela are joined by Senior Loan Officer, Erin Ekstrum, of Wymac Capital, Inc.  

With over 20 years of experience, it’s safe to say Erin has seen it all, and we’re excited to have her discuss the ins and outs of mortgages, along with some tips on how to better leverage a mortgage. In this episode we will cover:  

• The different types of loans 
• New loan limits for 2022
• Pre-approval insights for first-time buyers 
• The current state of the mortgage and home buying markets  
• Why you should really take advantage of the current low rates NOW

And more!  

Our goal is to help you get closer to mortgages, the market, and the processes that go along with this financial tool. We want to help you protect and make the most of your greatest real estate assets. So, we invite you to download a copy of our guide below, find a cozy spot, and press play. 

A couple of typical questions we always get is, “what are other people doing, what’s going on with your other clients?” Or “what can I be doing better? Is this not a smart direction to go?” Which is valid because there’s always a learning opportunity to be had, right? Intelligent people know that they need to handle the big financial decisions head-on with a proven strategy for the best results. But it’s those things that you don’t know that will creep up and get you. And believe us when we say there are many things dealing with finance that people just don’t understand without the proper guidance.

In this episode of A Place of Possibility, we’re sharing stories of the smart strategies and the lessons learned from clients who have come to us for help. We will cover:

• Smart ways to save on taxes
• Income diversification
• Ponzi Schemes
• The importance of advanced planning

And more!

No matter where you are in your financial journey, there is a best practice to be had. We hope this episode will give you a little taste of what’s really happening out there. If you’ve been wondering about some of the moves you’re making or just want to get ahead, this is the perfect episode for you. Don’t forget to download a copy of our guide and press play for all the juicy details.