Protecting Yourself from Financial Loss: Insurance, Identity Theft, and Fraud Prevention

In part five of the financial literacy miniseries, Mark delves into strategies for protecting oneself from financial loss through insurance, identity theft prevention, and fraud avoidance. 

Mark covers the four primary risk management techniques: risk avoidance, risk reduction, risk retention, and risk transfer. He discusses various types of insurance, including health, homeowners, renters, auto, and life insurance, outlining their importance and the details of how they function. 

Additionally, Mark provides strategies to protect against identity theft and common fraud schemes, emphasizing vigilance in monitoring financial activities and securing personal information. 

The episode concludes with a preview of the final part of the miniseries, which will cover income taxes and provide a summary of the top 10 financial lessons from the miniseries in an easy-to-remember format.

Episode Links:

Mark’s Money Mind YouTube Channel

My Social Security Account

Official Annual Credit Report website

Experian Credit Freeze

Equifax Credit Freeze

TransUnion Credit Freeze

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The Power of Compounding and Understanding Credit Reports and Credit Scores

In this episode, host Mark Trautman explores the topics of compounding, credit reports and credit scores. He begins with an engaging riddle that demonstrates the astonishing impact of compounding to illustrate its significance. Then using historical data and examples, Mark explains how starting early with investments can result in significant financial growth over time. 

Mark then transitions to the second segment, where he breaks down the intricacies of credit reports and scores. He discusses what factors influence credit scores, the importance of maintaining a good payment history and minimizing credit utilization. Mark then covers the various implications of different credit score ranges. He also provides practical advice on accessing and monitoring your credit report and credit score. 

This episode is part four of the financial literacy miniseries designed to help listeners improve their financial knowledge, avoid common financial pitfalls and achieve financial freedom.

Episode Links:

Mark’s Money Mind YouTube Channel

Official Annual Credit Report website

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Understanding Liabilities and Calculating Net Worth

In this episode, Mark continues the financial literacy miniseries by focusing on liabilities and how to calculate net worth. He explains various short-term and long-term liabilities, including credit cards, student loans, auto loans, and home mortgages. 

Mark emphasizes the importance of managing credit card debt and understanding the implications of student loans. Additionally, he discusses the structure of auto loans and mortgages and their impact on financial health. 

The episode concludes with a step-by-step guide on calculating net worth.

Episode Links:

Mark’s Money Mind YouTube Channel

Federal Student Aid website

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Understanding Your Net Worth Statement: Assets Unveiled

In this episode Mark guides listeners through the asset side of the net worth statement. Building on the last episode's discussion on tracking income and expenses with a money journal, Mark explains the importance of categorizing assets into cash and cash equivalents, investments, and use assets. 

He delves into the specifics of each category, offering practical advice on how to compile and assess these assets for your financial snapshot. From understanding different types of accounts to recognizing the value of personal property and investments, this episode serves as a comprehensive guide to mastering the asset side of your net worth statement. 

Tune in next time for the next part of the mini-series, where liabilities and calculating net worth will be discussed.

Episode Links:

Mark’s Money Mind YouTube Channel

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Kickstarting Financial Literacy: Tracking Income and Expenses

In this episode Mark introduces a special miniseries aimed at the high school seniors of Crested Butte Community School. Mark outlines his plan for making financial literacy accessible through podcast episodes that parallel his classroom lessons. 

He delves into the key components of the first lesson: tracking income and expenses. Mark discusses setting up a ‘Money Journal,' understanding paychecks, categorizing expenses, and prioritizing savings. He emphasizes the importance of living within your means and avoiding 'lifestyle creep.' 

Tune in to explore actionable steps towards financial freedom and learn about tools and techniques to maintain a healthy financial life.

Episode Links:

Mark’s Money Mind YouTube Channel

Spending Tracker App (iPhone)

Spending Tracker App (Google)

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In this episode Mark delves into the intricacies of ACA subsidies and the significant changes expected in 2026, including the return of the subsidy cliff and increases in Expected Premium Contribution levels based on household Federal Poverty Level guidelines. 

He also shares insights from the new book 'Tax Planning To and Through Early Retirement' by Cody Garrett, CFP and Sean Mullaney, CPA which challenges his current approach to Roth IRA conversions.

Mark also discusses his personal financial planning strategy for 2026 while offering listeners insight on how to navigate the evolving healthcare landscape.

The episode concludes with a light-hearted note about Halloween preparations.

Episode Links:

Mark’s Money Mind YouTube Channel

Beyond the Basics ACA Subsidy Reference Chart - Coverage Year 2025

Beyond the Basics ACA Subsidy Reference Chart - Coverage Year 2026

Tax Planning To and Through Early Retirement

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In this episode Mark shares his personal approach to fourth quarter income and tax planning. He explains the benefit of using a one-page financial plan and discusses strategies for Roth IRA conversions, tax planning, handling required minimum distributions (RMDs), and navigating the Affordable Care Act's (ACA) advanced premium tax credits. 

Mark provides detailed insights into social security benefits for survivors, including his own experience claiming benefits at age 60. He also touches on maintaining liquidity, setting up automatic monthly 'paychecks' from investment accounts, and the implications of income on Medicare insurance premiums. 

This comprehensive episode is a great listen for anyone looking to optimize their financial situation as we head toward year’s end.

Episode Links:

Mark’s Money Mind YouTube Channel

DinkyTown Tax Calculator

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In this heartfelt episode, Mark dedicates this show to his late niece Emily, sharing valuable lessons from her life and how they align with the principles of Financial Independence (FI). Mark recounts Emily's prudent financial decisions, like investing early, living frugally, and finding joy in repurposing items. 

He highlights her strategic choices in education, transportation, and home buying—all quintessential FI practices. Emily’s approach to financial independence emphasized enjoying life in the present while preparing for the future, providing a poignant example that motivates listeners to balance saving with life experiences. 

This episode also underscores the importance of shared experiences with loved ones, echoing the principles from the book 'Die With Zero.' Tune in for a touching tribute to Emily and insightful takeaways on living a fulfilling life while pursuing financial freedom.

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In this live recorded episode Mark and co-host Kevin Sebesta welcome a variety of guests from CampFI Rocky Mountain Week 3 in Colorado Springs. 

The show begins with an engaging conversation with Scott, a physician assistant, and his daughter Zoe, who share their journey towards Financial Independence (FI) and the life experiences that shaped their financial decisions. 

The episode also features Lauren, a former federal employee who discusses her career transition and personal growth journey. Key themes include the value of early financial education, the significance of sabbaticals, and the power of community in achieving financial goals. Lauren emphasizes living intentionally, exploring new opportunities, and overcoming fears, all while navigating the path to financial freedom.

Episode Links:

Mark’s Money Mind YouTube Channel

CampFI

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In this episode Mark is joined by tax expert Sean Mullaney, CPA live from CampFI in Colorado Springs. They dive into the recent changes brought by the new tax legislation, the One Big Beautiful Bill Act (OBBBA), signed into law on July 4th. 

Key topics include permanent tax rates, increased standard deductions, higher child tax credit, new personal exemptions for seniors, potential future tax adjustments, and expanded eligibility for HSA contributions under ACA plans. 

They also discuss strategic tax planning for early retirees and Sean’s upcoming book on tax planning co-authored with Cody Garrett, CFP®.

Episode Links:

Mark’s Money Mind YouTube Channel

FI Tax Guy blog

Sean Mullaney YouTube channel

U.S. Code § 36B - Refundable credit for coverage under a qualified health plan

Tax Planning To and Through Early Retirement

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This show is for education and entertainment purposes only and should not be considered investment, tax, or legal advice. Please consult the appropriate advisor or advisors before implementing anything you hear on this show or any other show for that matter.

Mark, his guests, and the Mark’s Money Mind show do not endorse Sean Mullaney, Mullaney Financial & Tax, Inc. and their services.