Financial Foursight

In this episode, the guys discuss a litany of topics but finish with some of the best thoughts that have ever been shared on a podcast episode.

They kick off the episode talking about the disconnect of the market and the real economy and why that is something that is normal.

Share a tweet of the week from @mkobach that talks about borrowing ideas from other industries to bring that cross-pollination of ideas. https://twitter.com/mkobach/status/1266108989189902336

Discuss the idea of financial advisory firms taking the PPP loan funds and the issues seen with doing that.

Finally, Colin prompts one of the rawest conversations on the podcast and what we are all feelings and seeing with the impacts of COVID-19 and the civil unrest.

On this week's episode, the guys discuss big picture investment philosophy.

Morningstar Long View: Inertia Can Actually Be A Helpful Thing: https://www.morningstar.com/podcasts/the-long-view/53

Setting the Record Straight on Asset Allocation

https://blogs.cfainstitute.org/investor/2012/02/16/setting-the-record-straight-on-asset-allocation/

In this episode Colin, Ian, and Isaiah discuss the following:

The New York Times article on where consumers are spending and where they are slashing consumption in today's market. https://www.nytimes.com/interactive/2020/04/11/business/economy/coronavirus-us-economy-spending.html

We have a lively debate on investing today: Do you continue as is? Would you put a big lump sum of money in the market? What has changed and what hasn't changed?

Finally, we discuss an article by Morgan Housel on the crisis and what will be forgotten and what will be sown into the fabric of society for years to come.  https://www.collaborativefund.com/blog/wounds-heal-scars-last/

In this episode, we talk about the biggest story of recent memory, which is COVID-19. We discuss the WFH (work from home) movement going to change significantly how we all work in the future? How we all work virtually and lessons learned.

The tweet of the week is one from Ryan Holiday (@RyanHoliday) and what he has learned from Tim Ferriss (@tferriss) - https://twitter.com/RyanHoliday/status/1240345479331950592

In this episode, we talk through the quickest 10% loss in stock market history. Prompting the question are markets efficient. Colin, Dwight, Ian, and Isaiah all weigh in.

The impact of the coronavirus to our lives, investing, and financial planning.

Tweet of the Week - WCI on Coronavirus https://twitter.com/WCInvestor/status/1234341853756973057?s=20

Isaiah brings up a topic that was a snarky comment from LinkedIn about Cash Value Life Insurance, and it's uses. We debate and discuss and share when it "may" make sense.

https://www.growingyournetworth.com/dont-buy-fear/

In today's episode, we discuss when to hire a tax professional and when it might make sense to do it yourself. How to think about paying for tax help and when it can be a lifesaver. Dwight dives into a lot of detail, given his CPA and tax background.

Tweet of the Week - A friend of the podcast Dan Routh talking about an analogy for fiduciary vs. suitability.  https://twitter.com/DanRouthCFP/status/1225813339705675793

Finally, we share the biggest and most avoidable tax mistakes we've seen and how best to avoid them!

In this episode, Colin, Dwight, and Ian dive into Ian’s trip and talking more in-depth about life planning and what it is and why it matters to you. How does life planning help people better align their money with their values and goals in life. Ian shares his video of the trip below.

Tweet of the Week – Kobe’s Legacy Investing or Basketball

Dwight shares an article called “How to Explain Anything to Anyone Four Steps To Clearer Communication”

Why having habits like investing allows you to adjust your lifestyle and compound the results you ultimately want over the longer term. How goal setting is not the way to drive change in your life regardless of the goal. You must set-up habits to help allow them to take over when motivation fails you. 

We share our lists of items we’d like to accomplish in 2020 and the things we are working on personally.

http://nautil.us/blog/the-problem-with-smart-new-years-goals

https://jamesclear.com/habits-fail

Emmanuel Kant’s Perfect Formula for a dinner party with friends is the Tweet of the Week.

https://twitter.com/danielcrosby/status/1211434551303647232?s=12

An update on the SECURE ACT and the impact it may have on you and your loved ones.

In today's episode, the guys discuss a family fable and why it's important to not forget why you truly are doing things and why we often overlook those important factors. S/O to Jeremy Walter for the post. https://calibratingcapital.com/a-50-family-fable/

The Tweet of the Week - https://twitter.com/DanaSchwartzzz/status/1196130242139578370

"Here's a thing I've learned: The terrible thing about [publishing a book/getting your dream job/starting a new relationship] is you wake up the next morning and you're still you. If you're not happy where you're at, no external accomplishment is going to change that. I spent a lot of time with a "diet starts on Monday" mentality for happiness: I'll be happy/clean my room/start keeping track of my finances/start exercising as soon as....... fill in the blank of a new "fresh start" accomplishment. I wasted a lot of time." 

Finally, we discuss investing and why capital gains are so important and it's what you keep not what you earn. Ensure you know what you own and why you own it. ETFs are on average much more tax-efficient in non-retirement accounts.  https://twitter.com/IDFinancial/status/1194747644477878273

On this episode, Colin, Dwight, Ian, and Isaiah discuss the following

Colin's recent video on asking a financial advisor for client referrals when doing due diligence. 

Colin's Post - https://twitter.com/advizewealth/status/1190265474153623552?s=20

Daily Routines of famous creatives over time - https://twitter.com/danielcrosby/status/1193890527512543232 & https://podio.com/site/creative-routines

Finally, tying in how Thanksgiving and how it applies to financial behaviors and planning from all four hosts.