Our 2 Cents

Spring is in the air, and March Madness is right around the corner! All the upcoming bracket excitement got us thinking about the similarities between picking teams and picking investments. Plus, we'll share some helpful reminders to protect yourself against financial scams.  

1. Money and Madness:
   • How trying to pick the winning team out of 68 is just like trying to pick winning stocks.
   • How personal bias and emotions can influence your picks.
   • If you could change your picks along the way, would you? And should you?
   • Having a game plan and sticking to it may yield the best results after all.
2. Safeguard Your Finances Against Scams:
   • Tips to avoid falling victim to phishing, vishing, smishing and more scams. 
   • An important lesson from one lady who lost it all.
   • Staying hyper-vigilant in the face of advancing technology and AI scams.

The focus of today's episode of Our 2 Cents is using fear as an opportunity. Steve and Gabriel start out the show by giving a brief recap of our recent 2024 Market and Economic Update client event. Then, they dig into the idea that you can make fear a valuable tool in investing. 

1. Market & Economic Update Recap:
   • Notable market events from 2023 that are shaping the landscape in early 2024.
   • The 'Magnificent 7' driving most of the market growth.
   • Some thoughts on what lies ahead for us for the remainder of this year.
2. Harnessing Fear to Build Wealth:
   • The importance of facing fears head-on and finding ways to alleviate them. 
   • How stress-testing your portfolio or exploring alternative options can help create investment opportunities.
   • Common investor fears and how they can impact your decision making. 

On this episode of Our 2 Cents, Steve and Gabriel discuss the latest inflation data and its impact on consumers. They also share some fun Valentine's Day facts and then wrap up the show with a couple 'Getting to Know Us' questions. 

1. Valentine's Day Fun Facts:
   • Did you know chocolate used to be prescribed by doctors? We didn't either!
   • We'll warm your heart with these fun Valentine's Day facts!
2. The Impact of the Latest Inflation Data:
   • The CPI rose by 3.1% in January. We'll explain what that means, and break down some of the core categories.
   • $3 for a McDonald's hashbrown? Customers have had enough of these rising prices.
   • Inflation isn't the only problem, it's 'shrinkflation,' too.
   • Ways to protect your quality of life in the face of rising costs.
3. Getting to Know Steve and Gabriel:
   • What's your favorite snack at the movies?
   • What fictional character would you like to hang out with?

In this episode of Our 2 Cents, Steve and Gabriel discuss two interesting topics on opposite ends of the spectrum: Bitcoin and "Lazy Money." They talk about the recent approval of Bitcoin ETFs and the potential for mainstream investors to enter the Bitcoin market. Plus, they share ideas for that cash sitting idle in a savings account. 

1. Breaking Down Bitcoin ETFs:
   • The basics: What is Bitcoin and the blockchain?
   • The future of Bitcoin - is it a digital currency or an asset?
   • The introduction of Bitcoin ETFs
   • Should you consider buying Bitcoin or a Bitcoin ETF?
2. Put Your "Lazy Money" to Work:
   • What we mean when we say lazy money, and what makes it "lazy?"
   • Why do people sometimes have too much money on the sidelines?
   • What are some ideas to put that lazy money to work?

On this episode of Our 2 Cents, Steve and Gabriel discuss various financial topics, including new work benefits that employers may offer, how Social Security is taxed, and if it's possible to pay zero taxes on your benefits. They also address a couple great listener questions at the end.

1. New Workplace Benefits to Help Increase Savings in 2024:
   • Making student loan payments could help boost your 401(k).
   • Accessing 401(k) money for emergencies.
   • A 401(k) match for building emergency savings.
   • Lowering the bar for 401(k) participation.
2. Strategies to Pay Zero Taxes on Social Security:
   • Just how is Social Security taxed to begin with?
   • How contributions to certain IRA or HSA accounts can help.
   • Implementing additional tax planning strategies can also help lower your taxable income.
3. Listener Questions:
   • "Gabe, Steve, I recently retired a few weeks ago and I'm feeling very uncomfortable living on income from my investments. I'm considering going back to work. Is that a normal reaction?" - Joyce
   • "The majority of my 401(k) is invested in company stock. I know that I am not diversified but I am very confident in my company's future. I am wondering if that is okay?" - Danielle

On today's podcast episode, Steve and Gabriel are talking about their New Year's resolutions and the importance of aligning money with one's values and goals. They then shift gears to discuss the risks of investing in individual companies, highlighting several big companies that went bankrupt in 2023. Click a link below to listen in now!

1. Your Money Resolutions for 2024:
   • Figure out what financial wellbeing means to you.
   • Determine what the purpose of your money is.
   • Spend in ways that are true to who you are, not what others expect of you.
   • Buy yourself time.
   • Focus on what drives your values and your happiness.
2. Well-Known Bankrupt Companies from 2023:
   • Although filing for bankruptcy doesn't necessarily mean these business went bust, it does highlight the potential risks in investing in individual companies.
   • We'll share seven household-name US retailers and businesses who faced a laundry list of problems in 2023.

Welcome to Our 2 Cents in 2024! We are ushering the new year with a great new episode. Today, Gabriel and Steve discuss interest rate predictions from some of the major banks on Wall Street. Then they share a couple big changes for retirement coming in 2024. Don't miss Gabriel's quote of the month to wrap up the show!

1. 2024 Interest Rate Predictions:
   • The Fed's expected end-of-2024 interest rates.
   • Bank of America's prediction on the likelihood of a Fed rate cut by March.
   • Goldman Sachs' forecast on rate cuts.
   • JPMorgan's revised interest rate outlook.
   • UBS' expectation on a recession in 2024 and massive rate cuts.
2. Big Retirement Changes for the New Year:
   • Social Security's COLA for 2024.
   • Increased Medicare expenses for the new year.
   • New rules for 529 plans that could add an interesting layer to your retirement planning.
3. Gabriel's Quote of the Month:
   • "Don't let money run your life, let money help you run your life better." — John Rampton

Join us today as we remember the late Charlie Munger, a great investor, philanthropist, and businessman. Then, we're getting in the holiday spirit on this episode of Our 2 Cents with some "merry retirement facts." Finally, Steve and Gabriel share some thoughts on stock market trends and projections.

1. Remembering Charlie Munger:
   • If you read any business news, you probably heard of the passing of Charlie Munger.
   • In honor of him, we're sharing some of his quotes that are our favorites.
2. Merry Retirement Facts:
   • We often share some of the scary stats about retirement, but today we're taking a cheerier look. 
   • The steady growth of IRA balances, increased savings among Americans, and the embrace of retirement savings by younger generations.
3. How Elections Affect the Stock Market:
   • While there may be some trends, it is difficult to predict market performance based on political outcomes.
   • How much do elections actually affect the stock market? 
   • Plus, a quick recap of what the markets did over the last few election periods.
4. Quick Market Perspectives:
   • Vanguard's financial market projections for the next 10 years.
   • Highlighting the expected growth rates for different asset classes.
   • The importance of diversification and the potential for international investments to outperform US equities.

In this episode of "Our 2 Cents," Steve and Gabriel discuss the concept of delayed gratification and its impact on building wealth. But first, they're sharing quotes of the month, their thoughts on the current national debt, and some tax-friendly states for retirees.

1. Gabriel's Quotes of the Month:
   • "Wealth is largely the result of habit." — John Jacob Astor
   • "The goal isn't more money, the goal is living life on your terms." — Chris Brogan
2. America's National Debt - Is it Really a Problem?:
   • How government deficits don't exactly work like household debt.
   • The notion of "servicing" debt as opposed to paying it off in full.
3. States That Don't Tax Your Nest Egg:
   • Where you live and retire can have a pretty big impact on your retirement income.
   • The states that don't tax any income, the ones that don't tax retirement income specifically, those who don't tax Social Security, and the states with no tax on pensions.
4. The Benefits of Delaying Gratification:
   • Not pausing your retirement savings to pay for more things today.
   • Not saving in only tax-deferred accounts.
   • Waiting for interest rates to go down before making big purchases.

Long-term care insurance can be complex, and some people may not fully understand what is covered and what is not. Policies vary widely, and individuals may be unsure if the coverage is worth the cost. On today's podcast, Steve and Gabriel are sharing some must-know stats about long-term care to help you make more informed decisions.

1. Must-Know Long-Term Care Statistics:
   • Usage of Long-Term Care: The percentage of people who will need long-term care in their lifetime, including paid services, nursing care facilities, and more.
   • The Role of Dementia: The prevalence of Alzheimer's disease or other forms of dementia, specifically for those in nursing homes.
   • The Cost of Care: Estimated lifetime costs of care for various care needs.
   • Long-Term Care Insurance: Polices are changing these days, how in-demand are they, and are they worth it?
2. Getting to Know Steve and Gabriel:
   • What's a small thing that makes your day better?
   • What was your favorite age growing up?