Thoughts On Money [TOM]

By Trevor CummingsBusiness Investing

Thoughts On Money [TOM] episodes

January 31, 2020Slow and Steady Is the Way to Go
Topics discussed:
In the old fable The Tortoise and The Hare we find this classic tale of the slow and steady vs. the erratic and volatile. This fable lends itself well to many financial analogies, and rightfully so. Looking back at my personal investments over the years, I am pleased with the prudent, tortoise-like decisions I’ve made yet I still experience some level of disappointment as I reflect on a few emotional, hare-like choices that I now regret. As an analogy for much of life, investing is a marathon, not a sprint.
In TOM this week, let’s examine the nuances of taking one’s time when investments are involved and how easy it can be to rush toward a fast buck.
And off we go…
Links mentioned in this episode:
http://thoughtsonmoney.com
http://thebahnsengroup.com
11 min
January 23, 2020Only Hindsight is 20/20
Topics discussed:
I had two conversations last week that came to opposing conclusions about 2020. One friend told me they had a gut feeling about 2020 and they felt strongly that the momentum from 2019 would carry over and their stock investments would do even better in 2020. Another friend told me that they felt like 2019 led to an overheated market and they were fearful whether they should own any stocks at all. To both conclusions, I replied with the same question, “Why so?”
I asked this question because I wanted to know if their conclusion was grounded in logic and evidence or if it was simply birthed from a feeling. Our emotions can be deceiving, and our memories can be selective, which is why I don’t put a lot of confidence in these types of gut predictions. But, hey, let’s lean into these claims and parse them out in today’s Thoughts On Money.
Links mentioned in this episode:
http://thoughtsonmoney.com
http://thebahnsengroup.com
17 min
January 17, 2020Clarity on Charity
Topics discussed:
As we closed out 2019, I fielded a lot of questions about Donor Advised Funds (DAFs). For some, this inquiry was sparked by an interest in the tax benefits for 2019 planning and for others, it came from a place of curiosity whether a DAF would be suitable for their situation. I know we’ve touched on Donor Advised Funds before here at TOM but based on all the inquiries, it would appear to be worthwhile to conduct a refresher.
Giving has its own rewards. This week, TOM helps you increase those benefits as you pay it forward. Join me as we discuss one of my favorite tools in personal finance.
Links mentioned in this episode:
http://thoughtsonmoney.com
http://thebahnsengroup.com
0 min
January 10, 2020Funding Education Doesn't Have to Break The Bank
Topics discussed:
As we enter into 2020, we know one thing to be true – politics are going to be a hot topic. Each week the news is going to headline different candidates, we will get a break down of each of their platforms, and there is going to be much uncertainty around who will win the election.
One of these topics that are going to get a lot of air time is student debt. Currently, the U.S. Department of Education has lent to about 43 million borrowers, and there is about $1.4 trillion of outstanding debt These are big numbers! Find out how to plan for success in funding education.
Links mentioned in this episode:
http://thoughtsonmoney.com
http://thebahnsengroup.com
14 min
December 23, 2019Lessons Learned - A Tale of Two Decades
Topics discussed:
As we approach the end of the year, I brace myself for the many retrospective look-backs on 2019 from my favorite media sources. And being that this year also marks the end of a decade, it will naturally invite even more reflection of how the past may inform our future.
In the world of investing, the former decade (2000-2009) has now been appropriately deemed, “The Lost Decade.” A ten-year period that was bookended by two significant market events – The Dot Com Crash and The Great Recession.
And this leads me to wonder, what central theme will we assign to the 2010’s?
Links mentioned in this episode:
http://example.com
http://second-example.com
13 min
December 19, 2019Appreciating Income is the Thing To Do
Topics discussed:
The end of the year is a season when I conduct a lot of review meetings with clients. Along with discussing holiday plans, sharing updates on our families, and so on, it’s the perfect opportunity to do some year-end tax planning, review how investments have fared over the year, and to catch up on any other planning items we are working on. It’s also a great opportunity to itemize our goals and notate tasks that we’d like to get completed in the coming year.
While these client meetings are never exactly the same, some themes come up time and time again like that of the math behind “total return.” I’ve found myself writing this equation down with a sharpie in numerous client conversations: Total Return = Appreciation + Income.
I know, it’s simple. It almost seems silly to mention, but there is so much behind this simple equation that I think it’s worth discussing. I’ll use the example of three areas most people are familiar with as it relates to their assets and the value they derive from each of them – Real Estate, Stocks, and Bonds.
Links mentioned in this episode:
http://example.com
http://second-example.com
19 min
December 18, 2019It's Okay to Budge on your Budget
Topics discussed:
As we approach the New Year many of us will begin to think about the resolutions that we want to make for 2020. We know from experience that these resolutions are often short-lived, and we realize that making a commitment to something like a new diet may not be realistic or sustainable.
Amongst these common resolutions are often financial goals like saving more or sticking to a budget. Today on TOM I want to talk about some practical ways that you can achieve these resolutions without putting too much strain on yourself.
Links mentioned in this episode:
http://example.com
http://second-example.com
14 min
November 22, 2019'Tis The Season To Be Tax Planning
I absolutely cannot believe that we are already preparing for Thanksgiving. It feels like 2019 flew by, right? Well, I know from experience, that these last 6-weeks of the year seem to fly by at hyper-speed as well. This is indeed a great time of the year to spend time with family, rest, and reflect on the year. It’s also a great time to do some end of year tax planning.
I know, I know, tax planning is not so festive, and it isn’t as fun as a turkey dinner, but the holiday season is our final opportunity to help reduce our 2019 tax bill. Who doesn’t like to pay less in taxes, right? So, with that spirit in mind, today’s TOM will be dedicated to a quick list of three potential strategies to employ before the end of the year.
Links mentioned in this episode:
https://thoughtsonmoney.com
http://thebahnsengroup.com
14 min
November 18, 2019 Is it safe to invest when markets are at all-time highs?
Thoughts on Money Podcast is hosted by Partner, Private Wealth Advisor Trevor Cummings from The Bahnsen Group in Newport Beach, California.
9 min
November 05, 2019 What Direction Does Your Cash Flow?
Here is a very common question I get as an advisor, “Should I pay off my mortgage?”
This is a difficult question to answer for two reasons:
Most of the people asking have already come to their own conclusion, and they’d be hard-pressed to be convinced otherwise. They are looking for confirmation rather than insight.
The answer to this question depends on the particulars of one’s situation, this is not a quick and easy, black and white, yes or no answer. Some significant discussion and financial planning needs to come first.
Which makes this the perfect question to address on TOM.
In today’s podcast, I’d encourage you to pay close attention to the step by step process for how we come to a conclusion. The greatest lesson from our discussion will not be the actual conclusion, but rather the thought process leading up to it. Learning to be a better “financial thinker” and how to better construct an assessment for these types of questions are the primary goals.
19 min

About Thoughts On Money [TOM]

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THOUGHTS ON MONEY [TOM] is a podcast looking at simple truths on money. Everything from budgeting to investing to decision making. A great place to come for answers to your personal financial…