On this week’s Best of Simply Money podcast, Amy and Steve dive into the topic of the Great Wealth Transfer, a significant financial phenomenon set to occur as the silent generation and baby boomers pass down $85 trillion in assets to Gen X and millennials over the next two decades.

They explore the implications this wealth shift might have on society, individual financial planning, and the potential challenges it presents for younger generations.

With insights into managing newfound inheritance, the importance of communication within families, and strategic planning to navigate this economic change, this episode offers valuable advice for anyone likely to be affected by this transformative generational exchange.

On this week’s Best of Simply Money podcast, Amy and Steve delve into the crucial elements of crafting a successful financial plan. This episode breaks down the seven major components necessary for a robust retirement strategy, starting with determining your retirement income needs. Learn how to account for expenses that disappear post-retirement and understand the phases of the go-go, slow-go, and no-go years.

Discover effective debt management tactics aimed at ensuring a stress-free retirement. With insightful discussions on tax planning, Amy and Steve emphasize the importance of organizing your accounts for optimal tax efficiency, including strategies like Roth conversions and tax loss harvesting. Investment management also takes center stage, providing a comprehensive look at risk management and maximizing portfolio returns to ensure your financial plan supports your desired lifestyle.

The episode further explores essential aspects of estate planning, offering guidance on avoiding probate and ensuring your legacy is intact. Additionally, it highlights the significance of maintaining diversified income sources throughout retirement, ensuring flexibility and tax advantages. Tune in to learn how a well-rounded financial plan can secure your financial future while allowing you to enjoy your retirement years to the fullest.

On this week’s Best of Simply Money podcast, Amy and Steve delve into how one crucial chart can significantly impact the stock market and your 401k. In a lively discussion with Allworth advisor Bob Sponseller, they explore the emotional rollercoaster investors face during volatile market days and emphasize the importance of limited 401k checks to maintain peace of mind.

The episode highlights recent market movements driven by Federal Reserve announcements, focusing on their "dot plot" and unexpected comments that triggered investor reactions. Listeners will gain insight into the market's adjustment to updated interest rate expectations and the impact of strategic investor behavior.

Amy, Steve, and Bob underscore the importance of diversification, cautioning against over-reliance on a single stock, no matter how promising it appears. They offer practical advice for protecting your investments from sudden market swings influenced by leadership statements from major companies such as Microsoft and NVIDIA.

On this week’s Best of Simply Money podcast, Amy and Steve discuss the ever-popular topic of financial predictions, focusing on what the stock market could look like in 2025. They dive into the motivations behind market forecasts and why it's crucial not to let fear and greed drive your investment decisions.

With mentions of recent bold predictions by various financial analysts, they emphasize the importance of sticking to a long-term financial plan regardless of speculative headlines. Tune in to understand how emotional investing can derail financial futures and why a solid, facts-based financial strategy is your best bet for success.

On this week’s Best of Simply Money podcast, Amy and Steve delve into the dangers of investing in a market that's currently on a high. While it may seem like the best time to invest heavily in thriving stocks, such as those in the S&P 500, Amy and Steve caution listeners about the lack of true diversification.

They also cover the latest offer from Robinhood – incentivizing rollovers of 401(k)s with a 1% match. While this might seem like an attractive proposal at first glance, Amy and Steve urge caution, discussing potential pitfalls and the importance of truly understanding what you’re getting into when moving retirement funds.

This episode is a must-listen for anyone looking to shore up their investment strategy amid current market trends.

On this week’s Best of Simply Money podcast, Amy and Steve delve into market dynamics and the optimal strategies to adopt when markets fluctuate.

In this episode, listeners gain insights into the characteristics of bear and bull markets, learning the historical data and emotional impacts of each. Amy and Steve lay out practical advice for maintaining a long-term investment strategy that's resilient to market highs and lows.

Plus, they discuss how to bounce back from a financial shock, and provide a list of items collecting dust that could be worth a fortune.

On this week’s Best of Simply Money podcast, Amy and Steve dive into the intriguing world of investments versus fads. In this episode, they explore historical financial trends, discussing past fads like cryptocurrency, the dot-com bubble, Beanie Babies, the housing bubble, meme stocks, and NFTs. They highlight how these trends captivated public attention but often lacked solid investment fundamentals.

Plus, they discuss the true cost of homeownership, and charitable giving techniques.

On this week’s Best of Simply Money podcast, Amy and Steve discuss how the markets are reacting to the anticipated pro-business policies of the incoming Trump administration. They explore the potential implications for stocks, bonds, and other investments, highlighting the importance of understanding market trends and avoiding reactionary financial decisions.

They delve into specific examples, such as Tesla's soaring market valuation, and discuss the rising strength of the U.S. dollar. Plus, they address the recent changes in the bond market and the potential impact of Trump's fiscal plans on investors.

On this week’s Best of Simply Money podcast, Amy and Steve delve into the implications of the recent presidential election on the financial markets and investment strategies.

The episode also touches on the significance of the Federal Reserve's actions over political changes and encourages investors to control what they can, such as their spending and investment strategies, while letting go of factors beyond their control.

On this week’s Best of Simply Money podcast, Amy and Steve dive into pivotal life moments when reaching out to a financial advisor becomes essential. Whether it's an unexpected increase in income, a sudden job loss, or other major life changes, they discuss the importance of seeking professional guidance to navigate these financial crossroads effectively.

They also explore the unique challenges faced by high earners not retired yet (HENRYs), offering strategies for tax-efficient savings and investment opportunities. From leveraging 401k contributions to maximizing health savings accounts and non-qualified deferred compensation plans, Amy and Steve provide valuable insights to help listeners make the most of their financial situation.

Plus, they address the significance of open communication in relationships during financial transitions, such as marriage or divorce.