These two guys are funny today! What is an RIA- a registered investment advisor, a person who advises clients on investments and manages their portfolios who are registered with the SEC and/or the state. So why is it important to hire an RIA? This podcast will help you understand how an RIA is held accountable with the state, and how having a fiduciary obligation to clients is in the best interest of clients. Listen today to understand the importance on having an RIA to help you with your financial planning and portfolio management.   To contact Dan, who is an RIA, see his website jossfinancial.com

Another Bias! Let’s talk Tracking Error Regret. If you ever decided that the grass is greener on the other side, then you have experienced Tracking Error Regret. Find out when TER is a good thing and when it can be a bad thing when it comes to your financial portfolio. Dan and Greg have a great discussion about TER and investing on today’s podcast. Be aware of comparisons when it comes to investing and your portfolio. This is why it is a good idea to have a wealth manager who helps you build a meaningful financial portfolio.   Check out Dan’s website at jossfinancial.com

Dan and Greg talk about health savings accounts (HSA) as opposed to flexible spending accounts (FSA) in today’s podcast. 

 

FSA- An employer contribution plan that puts money in an account for employees to use for healthcare needs. This is a use or lose account. 

 

But on the other hand...

 

HSA-  An account contributed to by employer or employee up to a certain maximum per year. Contributions are tax deductible, tax deferrable, and tax free dollars can be removed for use, also these accounts are not use or lose but carry forward year to year. 

 

Listen today as Dan and Greg discuss HSA’s and the benefits of having one and when to actually use it. 

 

Do you have an HSA?

 

Contact Dan at jossfinancial.com 

 

Please rate our podcasts and share them with friends. 

Dan encourages today’s listeners to create a vision of giving. Charity Navigator did a study and has noted that charitable contributions have increased by 5% over the years. Most people want to give more but don’t. Listen to Dan’s take on this. Do you have a plan to give? Let Dan help you determine what values you have that align with a charity you wish to support; how to give to that charity while taking into consideration tax and other consequences; and how to get your family involved along with making the best impact. 

 

What does success look like for you in your charitable giving? 

 

Contact Dan at jossfinancial.com 

Hear some practical and very applicable tips today from Dan and Greg about what we should teach our children about money. Number one, we should be teaching our children not to covet what others have or compare themselves to others. And two, we would teach our children to be mindful of their money in order to be good stewards.

Listen as Dan shares some financial examples parents can demonstrate for their kids. Then learn from today’s lesson, what it means to pay yourself first. Or 

how is compound interest the 8th wonder of the world? Or why you should teach your children to invest early and often? 

You will find this to be one of Dan’s most helpful podcasts when teaching kids about money or....

 

Contact joss financial.com today and have Dan help you build you and your children’s financial portfolios. 

Sunk Cost Fallacy is a behavior bias which is based on the behavior of not wanting to let go of something of value based on all the time, money, and effort invested into it. When we sink time and effort into something, we tend to hold on to it even at a risk. Listen to what Dan and Greg have to say about this Fallacy. Have you ever held on to a failing investment? Talk to a planner to help you manage your financial portfolio and help you identify your some of your bias that may be keeping you from your financial goals. 

 

Contact Dan Joss at jossfinancial.com 

Dan and Greg talks about money Apps. These are Apps, and there are many out there that Dan names off, that you may download to your phone to help you budget and categorize spending. In other words, these apps help you plan to spend the money you have in an easy way. You can see the categories you are spending from and if you are getting satisfaction from spending money in the way you are spending it. Planning how you spend and evaluating spending is an important part of managing your funds.  These Apps are great ways to track spending but also come with some risks as you are sharing personal information and linking bank accounts. So when you do use these Apps, be sure you are using them securely.  Also consider the purpose of using these Apps- why am I using this app, what do I hope to accomplish are just a few things you can ask yourself.  

 

Having a Financial Planner is an important part of helping you manage your outflow. A planner can identify areas of spending that may be keeping you from your financial goals. If you are a money app user, but are still struggling to meet your financial goals, it may be time to call an advisor. 

 

Contact Dan by visiting our website jossbrown.com today. 

 

In this episode Dan and Greg breakdown what financial tasks need to be done by year-end. Listen today and learn which tasks need to be accomplished in the current calendar year and which can be done up until tax filing in April.  A diligent advisor is an important part or reminding you which tasks need to be done to avoid expensive mistakes.  Much of what is shared in today’s podcast is not often common knowledge. Are you sure you understand what needs to be done by December 31st? Do not wait until last minute to accomplish these tasks, as your planner may not have availability to assist you. A good financial advisor will be doing these tasks or reminding you to do these year-end tasks in September! 

 

Visit our website jossfinancial.com for a phone call today.

Dan explains a Financial Portfolio can include many accounts and the basics of a portfolio is cash, stocks, and bonds where cash and bonds are not as volatile as stocks. 

Listen to Dan tell Greg about the gas and brakes of a portfolio and explains all types of bonds. Bonds have outperformed large US company stocks 7 of the last 20 years. Stocks perform well over time but can be volatile, where bonds in the long run may outperform stocks. Do you know the difference between a stock and bond? Listen for this podcast to understand the difference. 

 

What is your risk tolerance? Take the Financial Life Stress Test on jossfinancial.com today. 

Stocks provide real return and potential for real return. A stock is a part of ownership in a company.  Some companies pay a dividend which is a small return on your investment.  Each company sets their own policy on how they set the dividend amounts shared with the investors. A few companies do not pay dividends but reinvest those amounts back into the company. Dan also explains the difference between small and large companies and how for many years those small companies have outperformed the large companies on the stock exchange. Greg and Dan also chat about international companies and their roll in the stock market. 

 

Do you have a diversified portfolio that contains stocks?