Off The Wall

Is now a good time to buy a house? Do kitchens and bathrooms really sell houses? What will mortgage interest rates do going forward? Should you consider an adjustable-rate mortgage? Tune in to find out!

In this episode of Off The Wall, hosts David Armstrong and Jessica Gibbs welcome Joan Stansfield of Stansfield Signature Real Estate and David Turner of Prosperity Home Mortgage to talk about residential real estate in the current market.

Joan shares her top tips for buyers and sellers in this highly competitive market. For people who are planning to be in their home for the foreseeable future, she gives her perspective on a reasonable long-term rate you can assume your home value will grow.

Dave talks through the notable change in mortgage interest rates since 2021 and where rates could be going in the future. He also gives his take on using adjustable-rate mortgages right now in case rates come back down in the future, and more.

Episode Timeline/Key Highlights

Part 1: Buying and Selling a Home [00:50] Introducing Joan Stansfield. [03:26] Is now a good time to buy a home? Are home prices going to keep going up? [07:32] Tips for buyers on how to compete in a competitive market. [09:51] Waiving contingencies: Good or bad idea? [11:56] Why people are panic selling real estate & Is it still a seller's market? [14:18] Why is the housing market so expensive? [16:37] Using real estate as a long-term investment. [21:02] Home improvements and renovations that increase and decrease the resale value of a property.

Part 2: Interest Rates & Lending [26:12] Introducing David Turner. [26:45] The current state of mortgage interest rates & Will interest rates keep going up? [27:40] How federal interest rates affect mortgage interest rates & Should I wait to buy a home until interest rates to go down? [29:28] Adjustable-rate mortgages (ARM) vs. Fixed-rate mortgages [36:45] What you need to know about Jumbo Loans. [39:39] Rules for VA Loans have changed… Here's how you might benefit!

Relevant Resources Mentioned Stansfield Signature Real Estate: https://www.stansfieldsignature.com Prosperity Home Mortgage: https://www.phmloans.com

About Joan Stansfield Joan Stansfield is the President and Owner of Stansfield Signature Real Estate LLC. Her team, licensed in DC, MD & VA, specializes in residential real estate consultative services, serving both sellers & buyers -- from first-time home buyers, to luxury listings, relocations, military families, move-up buyers, renters & investors!

Joan is a Certified Luxury Home Marketing Specialist, Global Property Specialist, e-PRO, GREEN, Short Sale & Foreclosures and Relocation Specialist.

Her team promises to "spoil" you in the process of buying, investing or selling!

Connect with Joan Visit Joan's website: https://bit.ly/3caRE7N Connect with her on LinkedIn: https://bit.ly/3TjM4AW Listen to the Listed4Love® Podcast: https://apple.co/3zXO9cR

About David Turner David Turner is a Senior Mortgage Consultant at Prosperity Home Mortgage LLC. He started his career in mortgage banking after graduating from Virginia Tech in 1982. David has lived and worked in Alexandria for over 45 years, giving him the ability to build and maintain lifelong relationships with clients and referral partners. David's vast industry knowledge and years of experience have given him the privilege of assisting many customers on the road to homeownership. He specializes in VA and low down payment conventional conforming and non-conforming loan products. David sees his role as a mortgage advisor with the goal of guiding clients through the mortgage process delivering a solution that meets or exceeds expectations.

Connect with David Visit Prosperity Home Mortgage's website: https://bit.ly/3A9Fbcy Connect with him on Facebook: https://bit.ly/3Kb62cO

Connect with Monument Wealth Management Visit our website: https://bit.ly/monumentwealthwebsite Follow us on Instagram: https://bit.ly/MonumentWealthIG Follow us on Twitter: https://bit.ly/MonumentWealthTW Connect with us on LinkedIn: https://bit.ly/MonumentWealthLI Connect with us on Facebook: https://bit.ly/MonumentWealthFB

About "Off the Wall" Off the Wall is a podcast aimed at helping you answer the questions: What is the point of my wealth, and what actions can I take to accomplish that purpose? Your answers to those questions will be different from everyone else's. As Wealth Managers, we're skilled at helping our clients think through these challenging, but important, questions.

Learn more about our hosts, Dave and Jessica on our website at https://monumentwealthmanagement.com.

Please see important podcast disclosure information at https://monumentwealthmanagement.com/disclosures.

Is inflation slowing down? Can I expect future fed rate hikes? Does it even matter if we're in a recession or not?

Get the answers in this episode of Off The Wall with hosts David Armstrong and Jessica Gibbs, featuring Monument's portfolio managers Erin Hay, CFA and Nate Tonsager, CIPM.

Listen in to this quarterly market update (Q3 of 2022) as they address the booming inflation debate, take an insightful look ahead to earnings season, and dive deep into the future of federal rate hikes. Plus, you'll hear about what's on their minds right now as we approach the middle of Q3.

"Just because you're getting a lower inflation number, it doesn't mean that prices are coming down, necessarily, it just means that they're going up at a slower rate. Disinflation is not deflation." – David Armstrong

Episode Timeline/Key Highlights:

[00:50] Introducing Nate Tonsager & The topic of today's episode

[02:40] The State of Nate: Inflation & Federal rate hikes

[05:29] Does it matter if inflation goes down or not?

[09:23] Will the market rebound in Q3 (July/August) continue in the short-term?

[12:48] When should I re-enter the market after a "storm"? Should I wait to invest my cash until I feel better?

[13:55] Will the market rebound in Q3 continue in the long-term? What is the probability of a recession happening in the future?

[17:45] What is MONCON? & The MONCON level we're at right now.

[25:00] Why we don't pay attention to individual earnings reports and expectations.

[32:37] The future of fed rate hikes & How to use the CME FedWatch Tool

[40:17] What's on our minds right now: Outperformance of small cap stocks & The breakout between services and goods inflation.

Relevant Resources & Episodes Mentioned:

Article about MONCON: https://bit.ly/3Aqpv6c

CME FedWatch Tool: https://bit.ly/3JXW0vv

Learn about and connect with Nate Tonsager, CIPM: https://bit.ly/3C99piu

Learn about and connect with Erin Hay, CFA: https://bit.ly/3QOiMrN

Connect with Monument Wealth Management:

Visit our website: https://bit.ly/monumentwealthwebsite

Follow us on Instagram: https://bit.ly/MonumentWealthIG

Follow us on Twitter: https://bit.ly/MonumentWealthTW

Connect with us on LinkedIn: https://bit.ly/MonumentWealthLI

Connect with us on Facebook: https://bit.ly/MonumentWealthFB

Subscribe to our blog: https://bit.ly/MonumentWealthBlog

About "Off the Wall":

Off the Wall is a podcast aimed at helping you answer the questions: What is the point of my wealth, and what actions can I take to accomplish that purpose? Your answers to those questions will be different from everyone else's. As Wealth Managers, we're skilled at helping our clients think through these challenging, but important, questions.

Learn more about our hosts, Dave and Jessica on our website at https://monumentwealthmanagement.com.

Please see important podcast disclosure information at https://monumentwealthmanagement.com/disclosures.

You want to be as financially unbreakable as possible, even after your career ends, right? No matter what age you "retire", or stop working, you still need to have an income to thrive. So, how do you plan to have an income after you stop working?

In this episode of Off the Wall, hosts David Armstrong and Jessica Gibbs welcome Christine Benz, Director of Personal Finance and Retirement Planning at Morningstar, to talk about how to plan to have an income when you aren't working anymore, regardless of your age.

Listen in to learn the recommended withdrawal rate for spending, the role of asset allocation and inflation in retirement planning, and how to navigate a down market near the end of your career. Plus, you'll learn tips and tactics for making your savings last longer, refilling your cash reserve after spending it, and improving the sustainability of your post-career wealth plan.

"Most people, if they have a more vanilla asset class exposure in their portfolios, will not find easy pickings for rebalancing, which is why I think we come back to this idea of having 12 months', 18 months', 2 years' worth of portfolio withdrawals in cash to protect you in an environment like this one." – Christine Benz

Episode Timeline/Key Highlights:

[00:55] Introducing Christine Benz & The topic of today's episode

[02:59] The 4% withdrawal rate explained & Is it still the right rule of thumb for retirement?

[08:21] Variables, like bequest motives, that influence your personal withdrawal strategy.

[11:38] When is the updated Morningstar report on withdrawal rates coming out?

[12:36] Sequence of return risk & How should investors navigate a down market around the end of their full-time job?

[21:14] How to refill and rebalance your cash bucket, bond bucket, growth bucket, etc.

[29:03] Practical ways to make your savings last longer without compromising your quality of life.

[33:55] Do I need a financial planner?

[35:36] How to approach rising inflation in retirement.

[42:03] Unique challenges and decisions that come with a $5 million+ portfolio.

Relevant Resources & Episodes Mentioned:

Listen to The Long View podcast: https://bit.ly/3SaKsJ6

Read "The State of Retirement Income: Safe Withdrawal Rates": https://bit.ly/3PMxwrl

Your Money or Your Brain by Jason Zweig: https://amzn.to/2M96AFx

The Little Book of Safe Money by Jason Zweig: https://amzn.to/3bea9Ib

About Christine Benz:

Christine Benz is Morningstar's director of personal finance and retirement planning and author of 30-Minute Money Solutions: A Step-by-Step Guide to Managing Your Finances and the Morningstar Guide to Mutual Funds: 5-Star Strategies for Success. She's also the host of Morningstar's podcast, The Long View, where she talks to influential leaders in investing, advice, and personal finance about a wide range of topics like asset allocation and balancing risk and return.

In 2020, Christine was named to the Investment Advisor 25 (IA25), ThinkAdvisor's List of the 25 Most Influential Financial Leaders, and Barron's Inaugural List of 100 Most Influential Women in U.S. Finance.

Connect with Christine

Follow her on Twitter: https://bit.ly/3PW0IvQ

Connect with her on LinkedIn: https://bit.ly/3ORRBeA

Buy Christine's books: https://amzn.to/3QcH8v5

Read articles written by Christine: https://bit.ly/3cZ4tSK

Listen to The Long View podcast: https://bit.ly/3bmwdjZ

Connect with Monument Wealth Management

Visit our website: https://bit.ly/monumentwealthwebsite

Follow us on Instagram: https://bit.ly/MonumentWealthIG

Follow us on Twitter: https://bit.ly/MonumentWealthTW

Connect with us on LinkedIn: https://bit.ly/MonumentWealthLI

Connect with us on Facebook: https://bit.ly/MonumentWealthFB

Subscribe to our blog: https://bit.ly/MonumentWealthBlog

About "Off the Wall"

Off the Wall is a podcast aimed at helping you answer the questions: What is the point of my wealth, and what actions can I take to accomplish that purpose? Your answers to those questions will be different from everyone else's. As Wealth Managers, we're skilled at helping our clients think through these challenging, but important, questions.

Learn more about our hosts, Dave and Jessica on our website at https://monumentwealthmanagement.com.

Please see important podcast disclosure information at https://monumentwealthmanagement.com/disclosures.

Whether you realize it or not, your views on money are rooted in your early life experiences. Those views impact your financial decisions and your emotional and financial well-being. So, it's important to become aware of the money lessons that shaped you, define what financial well-being means to you, and prioritize funding contentment. Tune in to learn how!

In this episode of Off The Wall, hosts David Armstrong and Jessica Gibbs welcome Dr. Joy Lere, Licensed Clinical Psychologist, Behavioral Finance Consultant, and Co-Founder at Shaping Wealth, to talk about boosting your emotional and financial well-being.

Listen in to learn the power of self-awareness in making informed, empowered financial decisions, how your survival instincts can impact your financial decisions, tips and advice on choosing a trustworthy financial advisor, and more.

"If there's something you're avoiding, [question] why that is… For some people, when it comes to managing their money, this is a very emotionally fraught thing. So, it can be anxiety-provoking." – Joy Lere

Let us help you decrease your anxiety around money and stick to a realistic wealth plan.

Episode Timeline/Key Highlights:

[00:50] Introducing Joy Lere & The topic of today's episode.

[02:22] How our understanding of money early in life impacts our adulthood.

[06:38] At what age do kids start understanding conversations about money?

[08:40] Families develop unspoken rules about finances. How do these shape your financial behaviors?

[10:39] Why is creating and sticking to a wealth plan so hard for me? & How to overcome the lack of motivation and drive to start a wealth plan.

[14:19] A skilled financial advisor understands the psychology of money.

[15:25] The importance of sticking to your values and defining financial well-being for yourself.

[20:09] How to focus on your present financial well-being AND your future wealth, even after financial trauma or feelings of scarcity.

[24:20] How to choose a trustworthy financial advisor.

[31:50] When to listen to (or ignore) your survival instincts when making financial decisions.

[34:01] How to test whether or not your financial advisor has good intentions.

Relevant Resources & Episodes Mentioned:

Learn about Shaping Wealth: https://bit.ly/shapingwealth-pod

About Joy Lere:

Joy Lere, Psy.D. is a licensed clinical psychologist and behavioral finance consultant with a practice in Napa, California. She previously served as an Associate Clinical Professor of Clinical Psychology at George Washington University and held clinical and research positions at Children's National Medical Center, the Penn Medicine Princeton Health, and the Department of Defense. Joy is the Founder of Shaping Wealth, a learning platform that's transforming the human experience of money through original content on money, minds, and markets.

Connect with Joy:

Visit Joy's website: https://bit.ly/JoyLerePE

Follow her on Instagram: https://bit.ly/JoyLereIG-PE

Follow her on Twitter: https://bit.ly/JoyLereTW-PE

Connect with her on LinkedIn: https://bit.ly/JoyLereLI-PE

Subscribe to her blog, Finding Joy: https://bit.ly/JoyLereBlog-PE

Connect with Monument Wealth Management:

Visit our website: https://bit.ly/monumentwealthwebsite

Follow us on Instagram: https://bit.ly/MonumentWealthIG

Follow us on Twitter: https://bit.ly/MonumentWealthTW

Connect with us on LinkedIn: https://bit.ly/MonumentWealthLI

Connect with us on Facebook: https://bit.ly/MonumentWealthFB

Subscribe to our blog: https://bit.ly/MonumentWealthBlog

About "Off the Wall":

Off the Wall is a podcast aimed at helping you answer the questions: What is the point of my wealth, and what actions can I take to accomplish that purpose? Your answers to those questions will be different from everyone else's. As Wealth Managers, we're skilled at helping our clients think through these challenging, but important, questions.

Learn more about our hosts, Dave and Jessica on our website at https://monumentwealthmanagement.com.

Please see important podcast disclosure information at https://monumentwealthmanagement.com/disclosures.

Are you wondering: Are we in a recession right now? How is the current market affecting my long-term wealth management plan?

We're going to answer those questions and more in this episode of Off The Wall with hosts David Armstrong and Jessica Gibbs, and Portfolio Manager Erin Hay.

Listen in to this quarterly and year-to date market update for 2022, as they break down how a well-constructed wealth management plan can give you confidence (even during a recession), whether or not we're in a recession and what to do (and not do) about it, and the wealth management strategies we're using that WORK in the current environment.

"This is your moment… to stop winging it, to get out of your own way, and basically become a more skillful steward of your wealth." – Jessica Gibbs

Episode Timeline/Key Highlights:

[01:59] Introducing the topic of today's episode

[03:03] A mid-year review: What should be in everybody's wealth management plan in 2022?

[05:20] How we use Monte Carlo Analysis to stress test our clients' wealth planning scenarios

[10:34] Newly retired or close to retirement? Here's how you need to plan for it and why you need an Investment Policy Statement regardless of the stage of life you're in.

[13:06] What to do if you don't have a wealth management plan.

[14:37] US Market Update for the second quarter of 2022 and year-to-date

[18:06] Are we in a recession?

[26:48] Should I invest in stocks (for the long-term) right now or save in cash?

[30:49] 4 things that can help us determine the market bottom

[32:42] Wealth management strategies Monument used this year that WORK

[37:10] Parting thoughts & Words of wisdom: Cryptocurrency & Possibilities vs probabilities of markets going up/down

Relevant Resources & Episodes Mentioned:

Listen to the Off the Wall episode with Dr. Daniel Crosby: https://bit.ly/3Ru9zpJ

Connect with Monument Wealth Management:

Visit our website: https://monumentwealthmanagement.com

Follow us on Instagram: https://www.instagram.com/monumentwealth

Follow us on Twitter: https://twitter.com/MonumentWealth

Connect with us on LinkedIn: https://www.linkedin.com/company/1137603

Connect with us on Facebook: https://www.facebook.com/MonumentWealthManagement

About "Off the Wall":

Off the Wall is a podcast aimed at helping you answer the questions: What is the point of my wealth, and what actions can I take to accomplish that purpose? Your answers to those questions will be different from everyone else's. As Wealth Managers, we're skilled at helping our clients think through these challenging, but important, questions.

Learn more about our hosts, Dave and Jessica on our website at https://monumentwealthmanagement.com.

Please see important podcast disclosure information at https://monumentwealthmanagement.com/disclosures.

What's on the economic and political horizon? Bob Stein, Deputy Chief Economist at First Trust Advisors, joins the podcast to share what he thinks the future of the tech sector, trade wars, energy, banks and taxes will be. Bob also gives his predictions on what will happen in the upcoming congressional elections in 2022 and the presidential election in 2024.

Follow Bob Stein on Twitter @BobStein_FT

Learn more about Monument Wealth Management at: www.monumentwealthmanagement.com

Please see important podcast Disclosure Information: https://monumentwealthmanagement.com/disclosures

Markets are volatile right now. How you react will determine your success.

Monument's Portfolio Manager Erin Hay joins Dave Armstrong and Jessica Gibbs for a timely rundown on what's been going on the markets and what it all means for investors.

Dave and Erin discuss whether we are or are not in a recession, cryptocurrency drawdowns and their impact on general investor sentiment, and why losses hurt so much.

Learn more about Monument Wealth Management at: www.monumentwealthmanagement.com

Important Disclosures: https://monumentwealthmanagement.com/disclosures

"Rich" is a number, "wealth" is a mindset.

Dr. Brian Portnoy, one of the world's leading experts on the psychology of money, joins the podcast to discuss his book The Geometry of Wealth: How To Shape a Life of Money and Meaning. Brian explains how money fits into your happiness and the life you want to lead (not the other way around)—it's what he calls "funded contentment." Brian also answers the big questions: Does money buy happiness? And how do you strike the balance between more and enough?

Learn more about Monument Wealth Management at: www.monumentwealthmanagement.com

Important Disclosures: https://monumentwealthmanagement.com/disclosures

Dr. Richard Orlando of Legacy Capitals is back for Part 2 of our conversation about successfully transferring wealth to the next generation.

Rich does a deeper dive on gifting to kids, including sharing ideas on timing gifts around core life stages. He explains what is a family meeting and why it is important, and suggests possible items to have on your family meeting agenda. Rich also addresses the increased importance of family wealth conversations in the age of social media and influencers.

Listen to the end for his observations on why doing legacy planning in conjunction with a wealth manager has been successful for families he's worked with.

About Legacy Capitals: www.legacycapitals.com

Rich's book is Legacy: The Hidden Keys to Optimizing Your Family Wealth Decisions

Learn more about Monument Wealth Management at: www.monumentwealthmanagement.com

Important Disclosures: https://monumentwealthmanagement.com/disclosures

There are lot of questions, worry and anxiety surrounding leaving an inheritance. How do I prepare my kids to be good stewards of this wealth? How can I make sure the money doesn't create entitled kids? Do I tell my kids how much I'm worth?

Dr. Richard Orlando, Founder of Legacy Capitals, joins the podcast to share his expertise on how to successfully pass on wealth to the next generation. In this Part 1 of our discussion, Rich focuses on five things you can do to jumpstart the conversation with your family about wealth, including defining the purpose of your family wealth, how to start and evolve the conversation about wealth with your kids, gifting, and how to raise happy children.

About Legacy Capitals: www.legacycapitals.com

Rich's book is Legacy: The Hidden Keys to Optimizing Your Family Wealth Decisions

Learn more about Monument Wealth Management at: www.monumentwealthmanagement.com

Important Disclosures: https://monumentwealthmanagement.com/disclosures