Is an annuity a good way to generate passive guaranteed income in retirement? In today's episode we break down what an annuity is, the major downsides of owning an annuity, and why an annuity might still be a good solution in some cases.

Can you guess what the best-performing stock of all time is? What happens when you give people $1000/mo for free? France's new left-wing party won the election and wants to tax the wealthy at 90%. Southwest is finally abandoning open-seating.

Last year, Josh and Emily Hall fulfilled their dream of living abroad in Europe for 9 months. They managed to do it all without selling their house or quitting their jobs, and they only ended up spending $15,000 more during those 9 months than they would have back home in North Carolina!
We talk about the highlights of their trip as well as the challenges (like getting stuck in Israel during the October 7 attack!), and how this experience shaped their view of money and its role in their lives.

Last year, Josh and Emily Hall fulfilled their dream of living abroad in Europe for 9 months. They managed to do it all without selling their house or quitting their jobs, and they only ended up spending $15,000 more during those 9 months than they would have back home in North Carolina!
We talk about the highlights of their trip as well as the challenges (like getting stuck in Israel during the October 7 attack!), and how this experience shaped their view of money and its role in their lives.

June 2024 Money Minute. New report shows than "hidden" home costs now top $18,000 a year for average home. Americans are spending more than ever on restaurants. The Texas Stock Exchange is set to open later this year in Dallas. NBA close to finalizing new TV deal worth 2.5x more than its current one.

Harley Snode with Inspire Counseling Ministries joins me to discuss the intricate relationship between our money and our mental health:

- How does our upbringing and childhood shape our view of money?

- Are our money decisions based more on math or emotion?

- How do envy and social comparison rob us financial security?

https://inspirecounsel.com/

https://www.facebook.com/harleysnode

How often should I reevaluate my investment strategy? (1:30)

How much can I safely withdraw from my retirement account? (6:48)

Can churches give a tax-free gift to their pastor at retirement? (15:50)

Law of diminishing returns in your personal finances (21:56)

When is it ok to withdraw from my IRA? (32:34)

Thoughts on IULs (indexed universal life insurance) (38:18)

Links:

https://www.clergyfinancial.com/is-a-pastors-retirement-gift-taxable/

https://pastorswallet.com/are-gifts-to-retired-ministers-taxable/

https://www.honestmath.com/iul

- Summer is here! How much should you allocate for yearly getaways?

- Social Security reserves are projected to be depleted by 2033, then what?

- Jim Simons ran the Medallion Fund for 30 years with a staggering 66% average annual return!

- The case for why Americans are overestimating how good of an investment real estate will be in the future

Years ago, Warren Buffett stood in front of a room of college students and offered them a simple thought experiment - instead of investing in a stock, what if you could invest in one of your friend’s and get 10% of their income for life? Who would you choose and why? 

The 2024 Presidential Election is fast approaching, and many important economic questions remain unanswered.

With all this political uncertainty, is now the time to be making strategic changes to your investments?