Don and Tom go after one of their favorite targets: bad actors in the financial industry—especially those who flee regulation by becoming insurance salesmen. They break down a shocking new study showing that 98% of brokers kicked out by FINRA stay in the business by selling annuities and other insurance products, often with little oversight. The duo compares this behavior to “cockroaches,” slamming state insurance commissions for weak enforcement and minimal fines. Later, they tackle Washington State’s ballot measure SR 8201 on investing long-term care funds, answer listener questions about 529 plans versus UTMAs, discuss 457 plan costs and fund choices, and close with a fun chat about Halloween chaos and coffee and cocoa prices.

0:04 Opening rant on misbehavior in the financial industry and the perils of “bad advisors.”

1:03 How fired brokers reappear as insurance salesmen—98% stay in the industry.

3:10 Why state insurance oversight is toothless and how low the penalties really are.

5:14 Insurance firms masquerading as planners—why fiduciary-only advisors matter.

6:03 The study’s “cockroach” comparison and why the problem persists.

7:37 How to vet your advisor using FINRA’s BrokerCheck and state insurance lookups.

9:16 State vs. federal regulation—why the insurance lobby spent $200 million to avoid SEC oversight.

11:08 Caller Beth from Washington asks about SR 8201—investing long-term care funds in stocks.

13:27 The fiduciary perspective: diversification and realistic expectations.

15:23 Caller Gene from Puyallup on 529 plans vs. UTMAs for grandkids.

17:55 Tax control, gift rules, and the best state 529 options.

19:20 Holiday gifting and a little banter about who’s on Tom’s “nice list.”

20:22 Halloween costumes, tourists, and Celebration, Florida trick-or-treat madness.

23:28 Behind the scenes: Don reveals the entire “Talking Real Money” production staff (himself).

24:32 Podcast email list plug—how to subscribe at TalkingRealMoney.com.

25:35 Explaining podcasts for the AM radio crowd—how to find Talking Real Money on your phone.

27:30 Listener question from Matthew in Illinois about 457 plan costs and hidden fees.

30:38 The truth about 457s, penalties, and why Schwab’s low-cost ETFs may be smarter.

32:34 Caller Rob from Bellevue discusses attending RetireMeet and noticing the Apella building.

33:18 Wrapping with cocoa and coffee futures—good news for chocolate, bad for espresso lovers.

37:49 Don plugs Litreading’s Scary Story Season before switching to Christmas stories.

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