The Personal Finance Project

The midterm elections are over, and the markets have already had plenty to say about the results.

In Episode 84 of The Personal Finance Project, we break down the market's reaction to the election and what the new political landscape could mean for investors. We discuss the volatility in AI and energy stocks, the risks of concentrated positions, potential changes to taxes and estate planning, and why making major financial decisions based on election results can be a mistake.

Plus, we discuss why a little portfolio defense may make sense after several strong years for equities, regardless of who controls Washington.

The internet has plenty of opinions about money, but how much of that advice actually holds up in the real world?

In another edition of Financial Advisors React, the team breaks down viral financial clips covering credit cards, debt, index funds, multiple streams of income, preparing financially for kids, rental real estate, budgeting, and more.

Along the way, they discuss where these popular money rules get it right, where they oversimplify, and why good financial planning often requires more context than a viral video can provide.

How much cash should you actually keep on hand, and does that answer change as you get closer to retirement?

In this episode of The Personal Finance Project, we break down the role cash can play throughout your financial life, from building an emergency fund and accumulating wealth to preserving assets in retirement and planning for the next generation. We discuss high-yield savings accounts, money market funds, the potential opportunity cost of holding too much cash, and why chasing the highest available yield isn't always the best strategy.

Plus, we explore how the purpose of cash can evolve over time and why the right amount may have just as much to do with your financial goals and comfort level as it does with maximizing returns.

What happens when a tax strategy promises enormous savings but ultimately proves too good to be true?

In this installment of What Are You Doing in Tax Court?, we examine comedian Jimmy Carr's involvement in the K2 tax scheme, an offshore arrangement that reportedly allowed participating UK earners to pay dramatically reduced income taxes. We explain how the arrangement worked, why its loan structure attracted scrutiny and what happened when UK authorities challenged it.

The episode also explores the broader lessons for investors considering sophisticated tax strategies, including offshore trusts, spousal lifetime access trusts and Section 351 exchanges. The key takeaway: Professional advice does not eliminate the taxpayer's risk. Before implementing a complicated strategy, understand its purpose, ongoing costs and potential consequences if the taxing authority determines that it follows the letter of the law but violates its substance.

Midterm elections can create uncertainty, but should they change the way you invest? In this episode of The Personal Finance Project, Scott and Chris discuss how markets have historically responded following midterm elections, why divided government may provide greater policy clarity, and the risks of making dramatic portfolio decisions based on political predictions.

They also explore potential changes involving taxes, Social Security, Roth accounts, AI, data centers, market concentration, and the federal debt. The central takeaway: political headlines may be loud, but a diversified portfolio built around your long-term financial goals should not depend on which party controls Washington.

Prediction markets have exploded in popularity, allowing people to trade on the outcomes of elections, sporting events, economic developments, pop culture moments, and even the possibility of alien life.

In this episode of The Personal Finance Project, Hannah Gowdy is joined by Certified Financial Planner™ professional Scott Bartos to explain how prediction markets work, how platforms such as Kalshi and Polymarket establish their probabilities, and why these markets are often much closer to gambling than traditional investing.

They also explore how prediction markets compare with political polling, whether the "wisdom of crowds" can produce reliable forecasts, and how bias, insider information, public perception, and overconfidence can influence the odds. Most importantly, they discuss what prediction markets mean for everyday investors, retirees, and anyone concerned about missing the next major financial trend.

Topics discussed include:

• How prediction markets work
• Prediction markets versus traditional investing
• What an implied probability actually means
• The differences between prediction markets and polling
• The risks of speculation, bias, and insider information
• Why diversification still matters during uncertain events
• Whether prediction markets belong in a long-term financial plan

Prediction markets may be interesting to follow, but that does not necessarily mean they need to be part of your investment portfolio.

Inflation may have cooled from its 2022 highs, but for many Americans, life still feels expensive. In this episode of The Personal Finance Project, Scott and Chris unpack the so-called "affordability crisis" and explore why rising costs continue to dominate conversations about personal finance.

The discussion covers the pandemic-era economic response, inflation, housing affordability, mortgage rates, college costs, healthcare expenses, and the shifting realities facing today's families and young professionals. They also examine whether the headlines tell the full story and why personal experiences with affordability can vary dramatically.

Most importantly, they share practical strategies for navigating higher costs, building financial resilience, and staying focused on long-term goals even when economic conditions feel challenging.

Topics discussed:

• What caused the recent inflation surge
• Why housing remains the biggest affordability challenge
• The impact of higher mortgage rates
• College costs and lifetime earning potential
• Healthcare expenses and future trends
• Practical financial habits that can help combat rising costs

A high-profile connection may have brought attention to the Swift Ark case, but the lessons extend far beyond professional athletes and celebrity investors.

In this episode of The Personal Finance Project, we examine the timeline of the Swift Ark investment scheme, how an allegedly diversified fund became heavily concentrated in a single thinly traded security, and how new investor money was used to satisfy earlier redemption requests. The episode then shifts from the case itself to the practical questions every investor should ask before committing capital.

You'll learn why it is important to understand:

• What you own
• Why you own it
• How it supports your long-term financial goals
• Who verifies the investment's performance
• Whether added complexity is actually worth the additional risk

The central message is simple: your portfolio should support your independence, peace of mind, and long-term objectives. It should not be a source of unnecessary excitement or surprises.

Listen for a practical framework designed to help you evaluate unfamiliar investments, recognize potential warning signs, and make more intentional portfolio decisions.

This episode is for informational and educational purposes only and should not be considered individualized investment advice.

Winning $1 million on Survivor should have been a life-changing financial opportunity. Instead, Richard Hatch's decision not to properly report his prize money and other income led to tax-evasion convictions, multiple prison sentences, and a federal tax judgment of approximately $3.3 million.

In the first installment of"What Are You Doing at Tax Court?", we examine how the case unfolded and explore the financial planning strategies that could have produced a much different outcome. The episode covers taxes on cash and noncash prizes, estimated-tax safe harbors, charitable bunching, donor-advised funds, offers in compromise, and the critical difference between legal tax mitigation and criminal tax evasion.

The lesson is simple: when you experience an unusually high-income year, seek qualified professional guidance, understand your tax obligations, plan carefully, and pay what is due.

How much of the financial advice you see online is actually true?

In this episode of The Personal Finance Project, two financial advisors react to viral claims about an S&P 500 warning signal, the CAPE ratio, billionaire estate-planning strategies, irrevocable trusts, popular budgeting rules, retirement withdrawals, and whether most people really need a financial advisor.

Along the way, they separate useful guidance from oversimplified advice, explain why diversification still matters, correct common misunderstandings about the 50/30/20 and 4% rules, and explore when professional financial or tax guidance may provide meaningful value.

Plus, stay tuned for news about the podcast's refreshed brand and upcoming video format.