Reign Over Money

Episode 28 covers our breakdown of travel in 2023 and how we took advantage of our credit card points and other travel programs. Focusing primarily on Southwest Companion Pass and Marriott Bonvoy as the two main programs. But also how Reign Over Money utilizes different credit cards from Chase and CapitalOne to overcome the expenses of travel.

In this episode Reign Over Money shows a common tool financial advisors use in retirement planning and how to have some fun with it. The introduction of a Monte Carlo simiulation also helps to highlight what is called Sequence of Return Risk and why individuals should care about that near and in retirement.

In the final episode of 2023, Kevin gives a recap of the 18 episodes that made up the Reign Over Money Diamond. The diamond was created by Kevin as a building block for personal finance and all things money as a jumping off point for different topics. Each segment of the ROM Diamond will be discussed in much deeper detail in episodes to follow.

Reign Over Money talks about the importance of having a fundamental estate plan no matter your asset size. Simple items like; retirement account beneficiaries, life insurance and wills among other topics most people should work towards having are discussed.

In Episode 24, Kevin talks about the major problem facing many people, how to control the variable expenses (wants) versus needs; those absolute needs (shelter, food) and allowable needs.

This episode gives some ideas and food for thought on focusing on how to lower variable costs or wants to get to the ultimate goal of creating a surplus in income versus expense on a month to month basis.

Kevin gives a high level overview of each type of insurance and why they are important. He also explains how his family has utilized each and the plan for insurance during his retirement. Briefly touches on the importance of term over whole life and utilizing an HSA at work if available.

We all have different views on why money is important to us. Understanding your relationship with money and what it means to you and what you want it to do for you in life is something that evolves over time. The way you approach money and investing can significantly increase your chances for success if you know what you want. Kevin shares how his thoughts have changed over time and gives some advice for potential success as you form your thoughts and beliefs around money and investing.

In Episode 20, Kevin focuses on the most important piece that will fuel your financial success and that is how you make money. Kevin reflects on his 25 year career and time as a small business owner, working for a small company and working for a large company. Having this background the pros and cons of each are discussed along some tidbits learned along the way on how to succeed at whatever your job or career is or becomes.

In the first episode of season 2, Reign Over Money continues to unlock the ROM Diamond with the subject of Asset Allocation. Kevin tries to simplify the subject and relays to the audience his long-time allocation guidelines. Kevin also introduces the Callan Periodic Table of Investment Returns as a nice research piece.