Real Money Pros

Broadcasted live on September 3rd, 2022.

Hosts:

Brian Wiley, Financial Advisor

Alexandra Lundgren AIF®, Financial Advisor

Find Us:

https://www.therealmoneypros.com

https://www.treecityadvisors.com

Credit card balances have reached 20+ year highs. That’s crazy! What’s the cause? Higher costs of living or the urge to spend after two years of lockdowns? The one thing we do know, is to pay attention to your credit card rates and incur your debt wisely.

Resources:

https://www.cnbc.com/2022/08/05/credit-card-usage-surges-amid-record-inflation.html

https://wallethub.com/edu/cc/credit-card-landscape-report/24927#interest-rates

https://www.cnbc.com/2022/08/02/credit-card-balances-jump-13percent-as-inflation-outpaces-wage-growth.html

Host:

Nic Daniels BFA™, Financial Advisor

Find Us:

https://www.therealmoneypros.com

https://www.treecityadvisors.com

Have you seen how much new cars are selling for now-a-days?! There’s no wonder why people are reconsidering making that next major purchase. And it doesn’t just apply to vehicles! With the current economy, it’s not easy for the majority of us to spend thousands on something or risk a career change. How has your spending changed this last year?

Host:

Nic Daniels BFA™, Financial Advisor

Find Us:

https://www.therealmoneypros.com

https://www.treecityadvisors.com

As inflation rises, the Federal Reserve is staying busy to try to bring us back down. But are they doing their job effectively? Are they doing their job at all?! Alex and Brian talk about Biden's plan to relieve student loan debt and whether or not giving away "free" money is the best route to take. As you've gotten older and become more experienced at life, what are some of the financial lessons you learned as a young person that helped shape your money habits today?

Brian Wiley, Financial Advisor

Alexandra Lundgren AIF®, Financial Advisor

https://www.therealmoneypros.com

https://www.treecityadvisors.com

If you didn’t have to pay back student loans before, NOW YOU DO! Congrats! Europe is slowly, but surely figuring out how to become less dependent on Russian oil and Americans aren’t going to stop ordering french fries with their meals anytime soon. Can California fulfill their promise on banning the sale of gas-only vehicles by 2035? Your week in review!

Resources:

https://www.wired.com/story/russian-gas-europe/

https://www.theguardian.com/world/2022/jul/28/german-cities-impose-cold-showers-and-turn-off-fountains-in-face-of-russian-gas-crisis

https://www.cnbc.com/2022/08/25/irs-refunding-1point2-billion-in-late-filing-fees-for-nearly-1point6-million-.html

https://www.cnbc.com/2022/08/24/biden-expected-to-cancel-10000-in-federal-student-loan-debt-for-most-borrowers.html

https://www.tker.co/p/fry-attachment-rate-lamb-weston?triedSigningIn=true

https://www.barrons.com/livecoverage/jackson-hole-fed-jerome-powell-speech

https://www.latimes.com/environment/story/2022-08-25/california-poised-to-ban-sale-gas-powered-cars-2035

Nic Daniels BFA™, Financial Advisor

https://www.therealmoneypros.com

https://www.treecityadvisors.com

Starting next year, the Biden Administration plans on implementing a 1% excise tax on a company that performs a stock buyback or share repurchase. The plan is to raise $74B over the next ten years by enforcing the tax. Will it work, or will companies find another way to return cash to its shareholders?

Resources:

https://www.cnbc.com/2022/08/19/what-stock-buybacks-are-and-how-a-new-tax-affects-your-portfolio.html

https://www.usnews.com/news/business/articles/2022-08-16/companies-facing-first-tax-on-stock-buybacks-in-biden-bill

Nic Daniels BFA™, Financial Advisor

https://www.therealmoneypros.com

https://www.treecityadvisors.com

Making mistakes is inevitable, but don’t make them often! Minor financial mistakes that you make now, have the potential to have great repercussions as time goes on. Be sure to work with a professional! Brian learns what “woke” means and it sparks the conversation of how political views often bleed into your investment strategies. Beware – opportunities live on both sides…

Brian Wiley, Financial Advisor

Jeremiah Bates, Financial Advisor

https://www.therealmoneypros.com

https://www.treecityadvisors.com

87,000 new IRS agents were hired – for what?! The bigger question we should be asking, is “for whom”? Crypto hackings continue, skyrocketing the amount of money lost within investors’ crypto wallets. Companies continue to lay off their workforce, Turkey slashes interest rates despite ridiculously high inflation, and we learn that our kids are costing us a fortune.

Resources:

https://www.heritage.org/budget-and-spending/commentary/fact-checking-team-biden-who-those-87000-new-irs-agents-would-audit

https://www.reuters.com/markets/us/losses-crypto-hacks-surged-60-19-bln-jan-july-chainalysis-2022-08-16/

https://www.cnbc.com/2022/08/17/crypto-broker-genesis-slashes-20percent-of-workforce-and-announces-ceo-exit-.html

https://www.cnbc.com/2022/08/18/turkey-surprises-markets-with-rate-cut-despite-inflation-near-80percent-.html

https://www.reuters.com/business/retail-consumer/furniture-retailer-wayfair-cut-870-jobs-2022-08-19/

https://www.wsj.com/podcasts/minute-briefing/inflation-pushes-the-cost-of-raising-a-child-to-above-300000/24418493-9ad8-4c0f-90d9-10afac10db2a

Nic Daniels BFA™, Financial Advisor

https://www.therealmoneypros.com

https://www.treecityadvisors.com

Frequently asked questions – answered! Many of you have been asking about Roth IRAs, so Nic dives in to give you all some clarity. He explains what a contribution is, its limits, and more. Roth conversions, tax implications, and everything else you need to know!

Resources:

https://taxfoundation.org/2022-tax-brackets/

https://www.irs.gov/retirement-plans/plan-participant-employee/amount-of-roth-ira-contributions-that-you-can-make-for-2022

https://www.irs.gov/retirement-plans/plan-participant-employee/2022-ira-contribution-and-deduction-limits-effect-of-modified-agi-on-deductible-contributions-if-you-are-covered-by-a-retirement-plan-at-work

https://www.irs.gov/retirement-plans/plan-participant-employee/2022-ira-contribution-and-deduction-limits-effect-of-modified-agi-on-deductible-contributions-if-you-are-not-covered-by-a-retirement-plan-at-work

Nic Daniels BFA™, Financial Advisor

https://www.therealmoneypros.com

https://www.treecityadvisors.com

Is China still the big and intimidating country we thought it was becoming? We don’t know what they have up their sleeve when it comes to taking control of Taiwan, but we do know that a full scale invasion could mean trouble for their already-rocky-economy. China’s recent infrastructure development failures may be all we need to see to answer that question…

Sources:

https://www.city-journal.org/chinas-increasingly-fragile-economy

https://danieljmitchell.wordpress.com/2022/07/25/in-one-chart-everything-you-need-to-know-about-china/

https://247wallst.com/special-report/2022/07/22/foreign-countries-that-own-the-most-u-s-land/11/

Nic Daniels BFA™, Financial Advisor

https://www.therealmoneypros.com

https://www.treecityadvisors.com