Financial Decoder

After you listen:

• Read Patrick's article, 7 Car Buying Mistakes That Could Cost You

In this episode, Mark Riepe and Patrick Means explore the financial and behavioral aspects of car buying, including the biases that can cloud our judgment when making the decision. Their conversation covers practical advice on financing, maintenance, and the importance of research and preparation.

Links mentioned in the episode: 

• Kelley Blue Book
• Edmunds
• Consumer Reports

Financial Decoder is an original podcast from Charles Schwab. For more on the series, visit schwab.com/FinancialDecoder. 

If you enjoy the show, please leave us a rating or review on Apple Podcasts.

Reach out to Mark on X @MarkRiepe with your thoughts on the show.

Follow Financial Decoder on Spotify to comment on episodes.

Important Disclosures

The information provided here is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned here may not be suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decision. 

All expressions of opinion are subject to change without notice in reaction to shifting market conditions. Data contained herein from third-party providers is obtained from what are considered reliable sources. However, its accuracy, completeness, or reliability cannot be guaranteed. 

Examples provided are for illustrative purposes only and not intended to be reflective of results you can expect to achieve.

Investing involves risk, including loss of principal.

All  names and market data shown above are for illustrative purposes only and are not a recommendation, offer to sell, or a solicitation of an offer to buy any security.

The Schwab Center for Financial Research is a division of Charles Schwab & Co., Inc.

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After you listen:

• Explore more of Schwab's market commentary and education for bond investors.

In this episode, Mark Riepe and Kathy Jones delve into the essentials of bond investing. They discuss the fundamentals that every investor should understand, including the nature of bonds, the significance of credit risk, the relationship between interest rates and bond prices, and the concept of duration. Their conversation also touches on psychological barriers to sound strategies for managing bond investments, the implications of the yield curve, and the Federal Reserve's influence on the bond market.

Financial Decoder is an original podcast from Charles Schwab. For more on the series, visit schwab.com/FinancialDecoder. 

If you enjoy the show, please leave us a rating or review on Apple Podcasts.

Reach out to Mark on X @MarkRiepe with your thoughts on the show.

Follow Financial Decoder on Spotify to comment on episodes.

Important Disclosures

Investors should consider carefully information contained in the prospectus, or if available, the summary prospectus, including investment objectives, risks, charges, and expenses. You can request a prospectus by calling 800-435-4000. Please read the prospectus carefully before investing.

The information provided here is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned here may not be suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decision. 

All expressions of opinion are subject to change without notice in reaction to shifting market conditions. Data contained herein from third-party providers is obtained from what are considered reliable sources. However, its accuracy, completeness, or reliability cannot be guaranteed. 

Examples provided are for illustrative purposes only and not intended to be reflective of results you can expect to achieve. 

Investing involves risk, including loss of principal. 

Past performance is no guarantee of future results.

Fixed income securities are subject to increased loss of principal during periods of rising interest rates. Fixed income investments are subject to various other risks including changes in credit quality, market valuations, liquidity, prepayments, early redemption, corporate events, tax ramifications, and other factors. Lower rated securities are subject to greater credit risk, default risk, and liquidity risk.

Diversification and asset allocation strategies do not ensure a profit and cannot protect against losses in a declining market.

A bond ladder, depending on the types and amount of securities within the ladder, may not ensure adequate diversification of your investment portfolio. This potential lack of diversification may result in heightened volatility of the value of your portfolio.As compared to other fixed income products and strategies, engaging in a bond ladder strategy may potentially result in future reinvestment at lower interest rates and may necessitate higher minimum investments to maintain cost-effectiveness. Evaluate whether a bond ladder and the securities held within it are consistent with your investment objective, risk tolerance and financial circumstances.

​Tax-exempt bonds are not necessarily a suitable investment for all persons. Information related to a security's tax-exempt status (federal and in-state) is obtained from third parties, and Charles Schwab & Co., Inc. does not guarantee its accuracy. Tax-exempt income may be subject to the Alternative Minimum Tax (AMT). Capital appreciation from bond funds and discounted bonds may be subject to state or local taxes. Capital gains are not exempt from federal income tax.

International investments involve additional risks, which include differences in financial accounting standards, currency fluctuations, geopolitical risk, foreign taxes and regulations, and the potential for illiquid markets. Investing in emerging markets may accentuate these risks.

This information provided here is for general informational purposes only, and is not intended to be a substitute for specific individualized tax, legal, or investment planning advice. Where specific advice is necessary or appropriate, you should consult with a qualified tax advisor, CPA, Financial Planner, or Investment Manager.

The Schwab Center for Financial Research is a division of Charles Schwab & Co., Inc.

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After you listen:

• Explore more of Schwab’s education on fraud prevention.

In this episode, Mark Riepe discusses the rising threat of cybercrime, focusing on the psychological tactics used by modern fraudsters to exploit their victims. Featured guest and Certified Fraud Examiner Lisa Lang emphasizes the importance of skepticism and awareness among other strategies for protecting yourself from financial scam attempts.

Links mentioned in this episode:

Identity Theft Central | Internal Revenue Service

Guide to Identifying and Avoiding Securities Fraud | SEC.gov 

Financial Decoder is an original podcast from Charles Schwab. For more on the series, visit schwab.com/FinancialDecoder. 

If you enjoy the show, please leave us a rating or review on Apple Podcasts.

Reach out to Mark on X @MarkRiepe with your thoughts on the show.

Follow Financial Decoder on Spotify to comment on episodes.

Important Disclosures

The information provided here is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned here may not be suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decision. 

All expressions of opinion are subject to change without notice in reaction to shifting market conditions. Data contained herein from third-party providers is obtained from what are considered reliable sources. However, its accuracy, completeness, or reliability cannot be guaranteed. 

Examples provided are for illustrative purposes only and not intended to be reflective of results you can expect to achieve.

Investing involves risk, including loss of principal.

The Schwab Center for Financial Research is a division of Charles Schwab & Co., Inc.

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After you listen:

• Visit Schwab Moneywise to learn more about financial literacy.
• Read more insights from experts like Cindy Scott on Schwab's Money Talk.

In this episode of Financial Decoder, Mark Riepe discusses the complexities of setting financial goals with Cindy Scott. They explore the emotional challenges of goal setting, the importance of specificity, and how to prioritize multiple goals. The conversation also touches on aligning financial goals and relationships, the impact of social media on financial planning, and the strategies for overcoming financial anxiety. Listeners are encouraged to create a financial plan based on their personal values and to celebrate their progress along the way.

Financial Decoder is an original podcast from Charles Schwab. For more on the series, visit schwab.com/FinancialDecoder. 

If you enjoy the show, please leave us a rating or review on Apple Podcasts.

Reach out to Mark on X @MarkRiepe with your thoughts on the show.

Follow Financial Decoder on Spotify to comment on episodes.

Important Disclosures

The information provided here is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned here may not be suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decision.  

All expressions of opinion are subject to change without notice in reaction to shifting market conditions. Data contained herein from third-party providers is obtained from what are considered reliable sources. However, its accuracy, completeness, or reliability cannot be guaranteed.  

Examples provided are for illustrative purposes only and not intended to be reflective of results you can expect to achieve. 

Investing involves risk, including loss of principal. 

The information and content provided herein is general in nature and is for informational purposes only. It is not intended, and should not be construed, as a specific recommendation, individualized tax, legal, or investment advice. Tax laws are subject to change, either prospectively or retroactively. Where specific advice is necessary or appropriate, individuals should contact their own professional tax and investment advisors or other professionals (CPA, Financial Planner, Investment Manager) to help answer questions about specific situations or needs prior to taking any action based upon this information. 

The Schwab Center for Financial Research is a division of Charles Schwab & Co., Inc.

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After you listen

• Read Cooper Howard's 2025 Municipal Bond Outlook.
• Read Collin Martin's 2025 Corporate Bond Outlook.
• Read Kathy Jones's 2025 Treasury Bonds and Fixed Income Outlook.
• Follow the Schwab Center for Financial Research on X @SchwabResearch.

Is the bond market caught between the Federal Reserve's plans to cut interest rates and the risk of higher inflation and federal debt levels? In Part 2 of our 2025 Market Outlook, we focus on the fixed income markets, including corporate and muni bonds. 

First, Kathy Jones interviews Collin Martin about his outlook for investment-grade corporate bonds, floating-rate notes, and preferred securities.

Next, Cooper Howard offers his outlook on the municipal bond market. He and Kathy also discuss credit quality and the implications of potential tax law changes.

Finally, Kathy gives her 2025 outlook for Treasuries and the fixed income markets overall. 

On Investing is an original podcast from Charles Schwab. For more on the show, visit schwab.com/OnInvesting.

If you enjoy the show, please leave a rating or review on Apple Podcasts.

Important Disclosures

The information provided here is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned here may not be suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decision. 

All expressions of opinion are subject to change without notice in reaction to shifting market conditions. Data contained herein from third-party providers is obtained from what are considered reliable sources. However, its accuracy, completeness, or reliability cannot be guaranteed. 

Examples provided are for illustrative purposes only and not intended to be reflective of results you can expect to achieve. 

Investing involves risk, including loss of principal. 

Past performance is no guarantee of future results, and the opinions presented cannot be viewed as an indicator of future performance.

Performance may be affected by risks associated with non-diversification, including investments in specific countries or sectors. Additional risks may also include, but are not limited to, investments in foreign securities, especially emerging markets, real estate investment trusts (REITs), fixed income, municipal securities including state specific municipal securities, small capitalization securities and commodities. Each individual investor should consider these risks carefully before investing in a particular security or strategy.

​Fixed income securities are subject to increased loss of principal during periods of rising interest rates. Fixed income investments are subject to various other risks including changes in credit quality, market valuations, liquidity, prepayments, early redemption, corporate events, tax ramifications, and other factors. Lower rated securities are subject to greater credit risk, default risk, and liquidity risk.

Preferred securities are a type of hybrid investment that share characteristics of both stock and bonds. They are often callable, meaning the issuing company may redeem the security at a certain price after a certain date. Such call features, and the timing of a call, may affect the security's yield. Preferred securities generally have lower credit ratings and a lower claim to assets than the issuer's individual bonds. Like bonds, prices of preferred securities tend to move inversely with interest rates, so their prices may fall during periods of rising interest rates. Investment value will fluctuate, and preferred securities, when sold before maturity, may be worth more or less than original cost. Preferred securities are subject to various other risks including changes in interest rates and credit quality, default risks, market valuations, liquidity, prepayments, early redemption, deferral risk, corporate events, tax ramifications, and other factors.

All names and market data shown above are for illustrative purposes only and are not a recommendation, offer to sell, or a solicitation of an offer to buy any security.

Tax-exempt bonds are not necessarily a suitable investment for all persons. Information related to a security's tax-exempt status (federal and in-state) is obtained from third parties, and Schwab Center for Financial Research does not guarantee its accuracy. Tax-exempt income may be subject to the Alternative Minimum Tax (AMT). Capital appreciation from bond funds and discounted bonds may be subject to state or local taxes. Capital gains are not exempt from federal income tax.

Forecasts contained herein are for illustrative purposes only, may be based upon proprietary research and are developed through analysis of historical public data.

The policy analysis provided by the Charles Schwab & Co., Inc., does not constitute and should not be interpreted as an endorsement of any political party.

This information is not intended to be a substitute for specific individualized tax, legal, or investment planning advice. Where specific advice is necessary or appropriate, you should consult with a qualified tax advisor, CPA, Financial Planner, or Investment Manager.

Indexes are unmanaged, do not incur management fees, costs and expenses, and cannot be invested in directly. For more information on indexes, please see schwab.com/indexdefinitions.

BLOOMBERG® is a trademark and service mark of Bloomberg Finance L.P. and its affiliates (collectively "Bloomberg"). Bloomberg or Bloomberg's licensors own all proprietary rights in the Bloomberg Indices. Neither Bloomberg nor Bloomberg's licensors approves or endorses this material or guarantees the accuracy or completeness of any information herein, or makes any warranty, express or implied, as to the results to be obtained therefrom and, to the maximum extent allowed by law, neither shall have any liability or responsibility for injury or damages arising in connection therewith.

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After you listen

Follow the hosts on social media:

• Kathy Jones on X and LinkedIn.
• Liz Ann Sonders on X and LinkedIn.

After another year of the bull market, what's in store for stocks in 2025? In this year-end episode, Schwab experts look ahead to consider what investors might expect from the markets in the new year.

First, Liz Ann Sonders, Schwab's chief investment strategist, speaks with senior investment strategist Kevin Gordon. Liz Ann and Kevin discuss their perspective on the direction of the U.S. economy and stock market. She and Kevin cover tariffs, immigration, and potential policy changes, among other topics. Uncertainty remains a major theme.

Next, Kathy Jones, Schwab's chief fixed income strategist interviews Jeffrey Kleintop—Schwab's chief global investment strategist. He analyzes and explains what 2025 might hold for the global economy and markets.

On Investing is an original podcast from Charles Schwab. For more on the show, visit schwab.com/OnInvesting.

If you enjoy the show, please leave a rating or review on Apple Podcasts.

Important Disclosures

Investors should consider carefully information contained in the prospectus, or if available, the summary prospectus, including investment objectives, risks, charges, and expenses. You can request a prospectus by calling 800-435-4000. Please read the prospectus carefully before investing.

The information provided here is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned here may not be suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decision. All expressions of opinion are subject to change without notice in reaction to shifting market conditions. Data contained herein from third-party providers is obtained from what are considered reliable sources. However, its accuracy, completeness, or reliability cannot be guaranteed.  

Examples provided are for illustrative purposes only and not intended to be reflective of results you can expect to achieve. All names and market data shown above are for illustrative purposes only and are not a recommendation, offer to sell, or a solicitation of an offer to buy any security.

Investing involves risk, including loss of principal. 

Past performance is no guarantee of future results and the opinions presented cannot be viewed as an indicator of future performance.

Performance may be affected by risks associated with non-diversification, including investments in specific countries or sectors. Additional risks may also include, but are not limited to, investments in foreign securities, especially emerging markets, real estate investment trusts (REITs), fixed income, municipal securities including state specific municipal securities, small capitalization securities and commodities. Each individual investor should consider these risks carefully before investing in a particular security or strategy.

Forecasts contained herein are for illustrative purposes only, may be based upon proprietary research and are developed through analysis of historical public data.

Digital currencies such as bitcoin are highly volatile and not backed by any central bank or government. Digital currencies lack many of the regulations and consumer protections that legal-tender currencies and regulated securities have. Due to the high level of risk, investors should view digital currencies as a purely speculative instrument.

International investments involve additional risks, which include differences in financial accounting standards, currency fluctuations, geopolitical risk, foreign taxes and regulations, and the potential for illiquid markets.

Indexes are unmanaged, do not incur management fees, costs and expenses, and cannot be invested in directly. For more information on indexes, please see schwab.com/indexdefinitions.

BLOOMBERG® is a trademark and service mark of Bloomberg Finance L.P. and its affiliates (collectively "Bloomberg"). Bloomberg or Bloomberg's licensors own all proprietary rights in the Bloomberg Indices. Neither Bloomberg nor Bloomberg's licensors approves or endorses this material or guarantees the accuracy or completeness of any information herein, or makes any warranty, express or implied, as to the results to be obtained therefrom and, to the maximum extent allowed by law, neither shall have any liability or responsibility for injury or damages arising in connection therewith.

Apple, the Apple logo, iPad, iPhone, and Apple Podcasts are trademarks of Apple Inc., registered in the U.S. and other countries. App Store is a service mark of Apple Inc.

Spotify and the Spotify logo are registered trademarks of Spotify AB.

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After you listen:

• Check out the 2024 tax rates and brackets.
• Learn more about donor-advised funds.
• Explore more tax-planning content.

Mark Riepe breaks down important 2024 tax updates, covering changes to income tax brackets, standard deductions, and retirement contribution limits. He shares actionable year-end tax strategies to help you maximize savings, including tips on retirement account contributions, HSAs, and charitable donations. Plus, Mark provides key questions to ask yourself as you plan for the year ahead, ensuring you're making the most of every opportunity to reduce your tax liability and boost your financial efficiency. 

Follow Financial Decoder for free on Apple Podcasts or wherever you listen.

Financial Decoder is an original podcast from Charles Schwab. For more on the series, visit schwab.com/FinancialDecoder. 

If you enjoy the show, please leave us a rating or review on Apple Podcasts.

Reach out to Mark on X @MarkRiepe with your thoughts on the show.

Follow Financial Decoder  on Spotify to comment on episodes.

Important Disclosures

The information provided here is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned here may not be suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decision.

All expressions of opinion are subject to change without notice in reaction to shifting market conditions. Data contained herein from third-party providers is obtained from what are considered reliable sources. However, its accuracy, completeness, or reliability cannot be guaranteed. 

Examples provided are for illustrative purposes only and not intended to be reflective of results you can expect to achieve. 

The information and content provided herein is general in nature and is for informational purposes only. It is not intended, and should not be construed, as a specific recommendation, individualized tax, legal, or investment advice. Tax laws are subject to change, either prospectively or retroactively. Where specific advice is necessary or appropriate, individuals should contact their own professional tax and investment advisors or other professionals (CPA, Financial Planner, Investment Manager) to help answer questions about specific situations or needs prior to taking any action based upon this information.

All names and market data shown above are for illustrative purposes only and are not a recommendation, offer to sell, or a solicitation of an offer to buy any security. Supporting documentation for any claims or statistical information is available upon request.

This general information is not intended to be a substitute for specific individualized tax, legal, or investment planning advice and is not intended to be construed as tax advice. This information cannot be used for the purpose of avoiding penalties that may be imposed under the Internal Revenue Code or applicable state or local tax law provisions. Where specific advice is necessary or appropriate, Schwab recommends consulting with a qualified tax professional, CPA, financial planner, or investment manager. 

The Schwab Center for Financial Research is a division of Charles Schwab & Co., Inc.

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After you listen:

• Listen to the Choiceology podcast, hosted by Katy Milkman.
• Read the article "Charitable Donations: The Basics of Giving."
• Read the article "12 Tax-Smart Charitable Giving Tips for 2024."

In this special episode of Financial Decoder, the team explores the theme of gratitude through personal stories, scientific insights, and reflections on holiday traditions. The conversation highlights the emotional and psychological benefits of gratitude, emphasizing its role in enhancing well-being and fostering positive relationships. Listeners are encouraged to reflect on their own experiences of gratitude and consider how it can impact their lives, especially during the holiday season.

Follow Financial Decoder for free on Apple Podcasts or wherever you listen.

Financial Decoder is an original podcast from Charles Schwab. For more on the series, visit schwab.com/FinancialDecoder. 

If you enjoy the show, please leave us a rating or review on Apple Podcasts.

Reach out to Mark on X @MarkRiepe with your thoughts on the show.

Follow Financial Decoder on Spotify to comment on episodes.

Important Disclosures

The information provided here is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned here may not be suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decision.

All expressions of opinion are subject to change without notice in reaction to shifting market conditions. Data contained herein from third-party providers is obtained from what are considered reliable sources. However, its accuracy, completeness, or reliability cannot be guaranteed. 

Examples provided are for illustrative purposes only and not intended to be reflective of results you can expect to achieve. 

The information and content provided herein is general in nature and is for informational purposes only. It is not intended, and should not be construed, as a specific recommendation, individualized tax, legal, or investment advice. Tax laws are subject to change, either prospectively or retroactively. Where specific advice is necessary or appropriate, individuals should contact their own professional tax and investment advisors or other professionals (CPA, Financial Planner, Investment Manager) to help answer questions about specific situations or needs prior to taking any action based upon this information.

All names and market data shown above are for illustrative purposes only and are not a recommendation, offer to sell, or a solicitation of an offer to buy any security. Supporting documentation for any claims or statistical information is available upon request.

The Schwab Center for Financial Research is a division of Charles Schwab & Co., Inc.

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After you listen:

• Watch the video version of this episode on the Charles Schwab YouTube Channel.
• Visit the Schwab Wealth Advisory site to learn more about Schwab's approach to wealth management.
• Discover helpful educational resources about personal finance at Schwab Moneywise.

In this special episode, host Mark Riepe is joined in-studio by Stephanie Shadel, a senior wealth advisor at Schwab Wealth Advisory, to help define wealth management and explain what a wealth advisor generally does for their clients.

After delineating when personal finance topics begin to justify needs for the broader, more holistic scope of wealth management, they discuss some of the key elements involved, including investment planning, retirement planning, risk management, education support, banking, estate planning, and tax planning. 

Later, Stephanie speaks to the personalization of financial strategies and the corresponding importance of understanding clients' personal histories and preferences. She and Mark also talk about the impact of cognitive and emotional biases on financial decision-making, especially when factoring in the influences of a spouse, business partner, or family member.

Follow Financial Decoder for free on Apple Podcasts or wherever you listen.

Financial Decoder is an original podcast from Charles Schwab. For more on the series, visit schwab.com/FinancialDecoder. 

If you enjoy the show, please leave us a rating or review on Apple Podcasts.

Reach out to Mark on his LinkedIn or on X @MarkRiepe with your thoughts on the show.

Follow Financial Decoder on Spotify to comment on episodes.

Important Disclosures

Schwab Wealth Advisory™ ("SWA") is a non‐discretionary investment advisory program sponsored by Charles Schwab & Co., Inc. ("Schwab"). Schwab Wealth Advisory, Inc. ("SWAI") is a Registered Investment Adviser and provides portfolio management for the SWA program. Schwab and SWAI are affiliates and are subsidiaries of The Charles Schwab Corporation.

Portfolio Management provided by Schwab Wealth Advisory, Inc., a Registered Investment Adviser and affiliate of Charles Schwab & Co., Inc. (Schwab). Please read the Schwab Wealth Advisory and the Schwab Wealth Advisory, Inc. Disclosure Brochures for information and disclosures about this program. The Wealth Advisor, Associate Wealth Advisor, and other representatives making investment recommendations in your Schwab Wealth Advisory accounts are employees of Schwab Wealth Advisory, Inc.

The information provided here is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned here may not be suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decision.

All expressions of opinion are subject to change without notice in reaction to shifting market conditions. Data contained herein from third-party providers is obtained from what are considered reliable sources. However, its accuracy, completeness, or reliability cannot be guaranteed. 

Examples provided are for illustrative purposes only and not intended to be reflective of results you can expect to achieve. 

 Investing involves risk, including loss of principal.

Market fluctuations may cause the value of investment fund shares held in a donor-advised fund (DAF) account to be worth more or less than the value of the original contribution to the funds.

​Diversification and asset allocation strategies do not ensure a profit and cannot protect against losses in a declining market.

The information and content provided herein is general in nature and is for informational purposes only. It is not intended, and should not be construed, as a specific recommendation, individualized tax, legal, or investment advice. Tax laws are subject to change, either prospectively or retroactively. Where specific advice is necessary or appropriate, individuals should contact their own professional tax and investment advisors or other professionals (CPA, Financial Planner, Investment Manager) to help answer questions about specific situations or needs prior to taking any action based upon this information.

Past performance is no guarantee of future results, and the opinions presented cannot be viewed as an indicator of future performance.

Performance may be affected by risks associated with non-diversification, including investments in specific countries or sectors. Additional risks may also include, but are not limited to, investments in foreign securities, especially emerging markets, real estate investment trusts (REITs), fixed income, municipal securities including state specific municipal securities, small capitalization securities and commodities. Each individual investor should consider these risks carefully before investing in a particular security or strategy.

There are risks associated with investing in dividend paying stocks, including but not limited to the risk that stocks may reduce or stop paying dividends.

All names and market data shown above are for illustrative purposes only and are not a recommendation, offer to sell, or a solicitation of an offer to buy any security. 

The Schwab Center for Financial Research is a division of Charles Schwab & Co., Inc.

Schwab Moneywise® is provided by Charles Schwab & Co., Inc.

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Mark Riepe is joined by Michael Townsend, managing director of legislative and regulatory affairs at Schwab, to discuss the cognitive and emotional biases that influence political decision-making, the gap between campaign promises and legislative realities, and the complexities surrounding federal debt and entitlement programs like Social Security and Medicare. 

Their conversation emphasizes the importance of understanding the legislative process, the impact of affective forecasting on political perceptions, and the disconnect between political actions and market performance. Michael also highlights the challenges of addressing long-term issues in a short-term political environment and the need for investors to filter out noise and focus on their long-term goals.

Follow Financial Decoder for free on Apple Podcasts or wherever you listen.

Financial Decoder is an original podcast from Charles Schwab. For more on the series, visit schwab.com/FinancialDecoder. 

If you enjoy the show, please leave us a rating or review on Apple Podcasts.

Reach out to Mark on X @MarkRiepe with your thoughts on the show.

Follow Financial Decoder on Spotify to comment on episodes.

Important Disclosures

The policy analysis provided by the Charles Schwab & Co., Inc., does not constitute and should not be interpreted as an endorsement of any political party.

The information provided here is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned here may not be suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decision.

All expressions of opinion are subject to change without notice in reaction to shifting market conditions. Data contained herein from third-party providers is obtained from what are considered reliable sources. However, its accuracy, completeness, or reliability cannot be guaranteed. 

Examples provided are for illustrative purposes only and not intended to be reflective of results you can expect to achieve. 

 Investing involves risk, including loss of principal.

The information and content provided herein is general in nature and is for informational purposes only. It is not intended, and should not be construed, as a specific recommendation, individualized tax, legal, or investment advice. Tax laws are subject to change, either prospectively or retroactively. Where specific advice is necessary or appropriate, individuals should contact their own professional tax and investment advisors or other professionals (CPA, Financial Planner, Investment Manager) to help answer questions about specific situations or needs prior to taking any action based upon this information.

Past performance is no guarantee of future results, and the opinions presented cannot be viewed as an indicator of future performance.

Performance may be affected by risks associated with non-diversification, including investments in specific countries or sectors. Additional risks may also include, but are not limited to, investments in foreign securities, especially emerging markets, real estate investment trusts (REITs), fixed income, municipal securities including state specific municipal securities, small capitalization securities and commodities. Each individual investor should consider these risks carefully before investing in a particular security or strategy.

All names and market data shown above are for illustrative purposes only and are not a recommendation, offer to sell, or a solicitation of an offer to buy any security. Supporting documentation for any claims or statistical information is available upon request.

The Schwab Center for Financial Research is a division of Charles Schwab & Co., Inc.

Apple, the Apple logo, iPad, iPhone, and Apple Podcasts are trademarks of Apple Inc., registered in the U.S. and other countries. App Store is a service mark of Apple Inc.

Spotify and the Spotify logo are registered trademarks of Spotify AB.

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