Adventures in Wealth Management

Personal: Tj dives into stats around what people who are actually retired wished they would have done + digs into the Kav Rule (2x your age outside a year).

Mkt: Charles digs into market sell offs.

Interesting: Looking at a report that highlights the cost of healthcare in the US and how we can potentially slow the increases.

https://www.linkedin.com/pulse/trouble-ahead-us-unless-we-reduce-healthcare-costs-bryan-r-lawrence-f3qfe%3FtrackingId=HqV8w3g9STO3kwXOHrBxHg%253D%253D/?trackingId=HqV8w3g9STO3kwXOHrBxHg%3D%3D

What a week.

Charles talks direct indexing.

TJ looks at market sells off greater than 1%.

Millennials finally get some good press around retirement savings.

https://www.wsj.com/personal-finance/retirement/millennials-on-better-track-for-retirement-than-boomers-and-gen-x-1aebf00

Disclosure - Past performance is not indicative of future results, and it is not possible to invest directly in an index. All investments carry a level of risk, including loss of principal. Direct indexing will result in performance that deviates from the index and may not be appropriate for all investors. There is no guarantee investment objectives or expected outcomes will be achieved. Diversification and asset allocation do not ensure a profit or protect against loss.

Episode 18

Show Notes

Personal Finance: TJ and Charles dig into the WSJ article on Personal Finance dates and getting everyone on the same page.

Markets: Charles and TJ discuss the pros and cons of target date funds.

Interesting: A takeaway from a Joe Rogan story after spending 10 days in an Alaskan rainstorm.

https://www.wsj.com/personal-finance/when-date-night-gets-between-the-spreadsheets-22902d67?mod=personal-finance_lead_pos1

Tj and Charles dig into a number of topics.

1. Charles digs into adjustments made for 2023 tax year.
   1. https://www.bairdwealth.com/insights/wealth-management-perspectives/2022/11/ratcheting-up-inflation-adjustments-to-your-2023-taxes/
2. Tj digs into the seasonality of the markets in September.
3. The story of Ronald Reed The Janitor Who Became A Multi-Millionaire by Retirement"

1. Tax Diversification in setting up your investments for long range planning
2. State of the Consumer
3. $70 tn Wealth Transfer

https://awealthofcommonsense.com/2023/08/the-70-trillion-wealth-transfer/#:~:text=It's%20morbid%20to%20think%20about,%2412%20trillion%20going%20to%20charity).

Episode 15

1. Personal Finance: WSJ article looking at what it's like to retire with $5mn - https://www.wsj.com/articles/heres-what-a-5-million-retirement-looks-like-in-america-1abc76d9
2. Market: Interest rate discussion on the back of Bill Ackman's CNBC interview. https://www.cnbc.com/2023/08/03/billionaire-investor-bill-ackman-says-hes-shorting-30-year-treasury-bills.html
3. Interesting: Charles digs into magazine covers.

We have the receipts (for HSA), house fire story, what type of rally is this?, the changing landscape of home finances.

Charles and TJ dig into several topics

1. Personal Finance: Important reminders about limits and characteristics.

2. Markets: What type of rally do we have here.

3. Interesting: whose name goes first when filing the taxes.

Episode 13

TJ digs into historical returns for equities, bonds and cash.

Charles breaks down some demographic and other trends that are shaping how he thinks about interest rates.

Interesting topic is how much people think they need for retirement.

Links

Timing interest rates: https://awealthofcommonsense.com/2023/03/market- timing-interest-rates/

Survey - https://www.im.natixis.com/us/resources/2023-individual-investor-survey-full-report

Yougov survey - Rumble in the jungle: what animals would win in a fight? | YouGov

Episode 12: Charles digs into Life Insurance. TJ and Charles talk about the different mindsets of coastal investors vs those in the middle of the country and how those affect investing ideas. The team ends with a discussion on the difference between being wealth and being rich.

Personal Finance - TJ digs into how to think about social security as more than just an income stream.

Markets: Charles looks at the markets post debt ceiling and how they tend to work after the first 100 trading days.

Interesting: The story of when Bryan Lawrence asked Warren Buffet " "How do we get to be like you but faster....the average stock goes up and down by 80% in a year. And that's an enormous advantage if you actually take the time to understand the underlying business because the stock price is not reflecting underlying value if it's going up and down by 80%.""

Links:

Social Security: https://www.kitces.com/blog/valuing-social-security-benefits-as-an-asset-on-the-household-balance-sheet/

100 Trading Days: In the Markets Now: First 100 Days (5/2023, Client Approved)

Bryan Lawrence Interview: https://www.theinvestorspodcast.com/episodes/beating-the-sp500-since-2004-w-bryan-lawrence/