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What Are Your Thoughts? episodes
- WAYT S3E4: The Seduction of Pessimism in Investing and Money
Why do we follow bad news more closely than good news - especially when it comes to money? I take a look at a chapter from Morgan Housel's book, The Psychology of Money, about why optimism gets written off and pessimism gets paid close attention.
26 min - WAYT S3E3: Are bonuses taxed at a higher rate than normal?; What tax docs do you need from your investment accounts?
*If listening on Spotify, you can now leave a 5-star review*
Why does it seem like bonuses are taxed at a higher rate than normal? I break down the numbers.
Also in this episode is a brief overview of what tax forms to look for from your retirement and non retirement investment accounts.
The Social Security tax limit for income that I couldn't remember off hand is $147,000 for 2022.
www.lifepointplanning.com/blog for links to articles from this episode.
25 min - WAYT S3E2: Calculating Retirement Income
Should your advisor tell you what your income should be in retirement? What's the best way to determine how much a retiree can spend based on their asset levels and income needs? Let's find out.
21 min - WAYT S3E1: Covid Mindset Shift, Stock Market Psychology, Most Popular Episodes from 2021
**If listening on Spotify, please leave a 5-star review**
In this episode:
- I discuss a mindset shift I've seen with my clients and prospects.
- How the 12-year bull market has impacted investor psychology.
- The most popular podcast episodes from 2021.
Link to Portfolio Visualizer referenced in the episode.
27 min - WAYT S2E12: Guest Colin Overweg, CFP® - Fee Structures and What You Should Know
In this episode, Colin Overweg joins me to discuss fee structures in financial planning. We talk about what types of clients might be the best fit for each type of model and also discuss the pros and cons of each model for both the advisor AND the client.
Colin utilizes the flat-fee model for a lot of his clients, so make sure you stick around to listen who that model is best suited for.
AUM or percentage-based fees
00:00 - 22:00 (AUM pros and cons 13:00)
Flat fees
22:00 - 41:00 (33:00 Pros and cons of a flat fee)
Commission-based
41:00 - 46:00
Hourly fees
46:00 - 53:30
1 hr 8 min - WAYT S2E11: Diversification vs. Concentration in Investing
You may have heard that a diversified portfolio is the best for most people. Is that the truth? If so, why? What are the pros and cons?
Link to asset class returns "quilt" here.
25 min - WAYT S2E10: Saving vs. InvestingYou may think the words "saving" and "investing" mean the same thing. You may wonder which one is "safer" or "better".In this episode, it's back to basics. Explaining the differences, pros and cons, and what it means to save and/or invest. This discussion has good takeaways for investors of all ages.20 min
- WAYT S2E9: Combining Finances In A RelationshipEver wondered about the best ways to merge/combine finances with your partner?In this episode, we talk about a few different ways that merging finances can work and also the pros and cons.21 min
- WAYT S2E8: Income Tax Refresh, The Best Way to BudgetA quick refresh on marginal vs. effective tax rates from episode 7.After that, it's all about reverse budgeting aka pay yourself first. Wouldn't it be nice to save first, automate everything, and then not feel guilty about spending the rest? Let's discuss.19 min
- WAYT S2E7: Federal Taxes 101, Taxing Income vs. Wealth/AssetsHow do federal taxes even work? What's the difference between marginal and effective tax rates?Should the US tax income (current process) or should it tax wealth and assets? Let's discuss.The marginal tax rate is the rate of tax charged on a taxpayer's last dollar of income. The effective tax rate is the actual percentage of taxes you pay on all your taxable income.YouTube video about taxing the rich from 2019.18 min
About What Are Your Thoughts?
From the publisher's feed
Financial advisors talk current financial topics, social culture around money, and questions their clients ask.