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Paul taught a financial stewardship class at Trevecca earlier this month and was surprised at some of the questions students brought about investing and financial stewardship. Listen along as Paul shares some of the best questions from this class with Ira Work and his answers, to give you a look into what a financial stewardship class with Paul would look like.
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Paul and Ira talk about how ubiquitous market timing is in the investment industry and how investors never really know how to measure whether or not their portfolios are successful. The reality is that a portfolio can go up 190% in 20 years and underperform the worst asset category during that time. Companies don’t usually educate investors about risk and return in investing, and instead they try to use track records and fund ratings to push products that make them the most money.
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More and more people either can’t afford, can’t qualify for, or get dropped from their homeowners and auto insurance plans and are forced to get state insurance plans. Today, Paul and Ira talk about why having a rental property that needs a new roof and being in an accident that wasn’t your fault can be enough to get you dropped by an insurance company. Paul thinks it’s important to be an educated consumer and talks about insurance in the United States right now. The unfortunate reality is that insurance companies usually penalize you for using your insurance and there are some steps you can take to mitigate risk. Later in the episode, Paul talks about State Farm dropping 72,000 homeowners insurance policies in California and how to search for unclaimed property that may belong to you.
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How much you save for retirement is important, but what’s more important is how much you will get to keep. In a two-part episode, Paul recaps a recent workshop he taught on taxes called “Tax Planning Through The Four Phases of Retirement”. Paul covers the different kinds of taxable retirement accounts and programs like social security and medicare so that you can avoid unnecessary taxes and relax about money.
Start relaxing about investing by scheduling a 15-minute call with one of our advisors here.
How much you save for retirement is important, but what’s just as important is how much you will get to keep. In this two-part episode, Paul recaps a recent workshop he taught on taxes called “Tax Planning Through the Four Phases of Retirement.” Paul covers the different kinds of taxable retirement accounts and programs like Social Security and Medicare so that you can avoid unnecessary taxes and relax about money.
Start relaxing about investing by scheduling a 15-minute call with one of our advisors here.
Evan brings a column from MoneyWatch that talks about what happens when people get asked to put financial decisions above personal and moral decisions. You could have a strong opinion about not moving in together until you realize the amount of money you both could save by doing it. You could be against stealing or cheating until you realize how much money you could gain by being dishonest in a business deal. The reality is that money decisions exist in many places that you may not expect. Evan and Jonathan share their opinions on this column and why it’s so important not to think that money is the most important factor in decision-making. Later in the show, Evan talks about scammers pretending to be wealthy billionaires on Facebook offering investing advice.
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A survey shows that most Americans don’t see retirement as a time to kick back with their feet in the sand, but they see it as a time to live in their purpose and accomplish some of the best work of their life. Evan and Jonathan explore the implications of this on saving and planning for retirement and why there may be more optimism about retirement now than in the past. Later in the show, Evan talks about the benefit of spousal retirement contributions in your tax filing.
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Jim at the Goodlettsville office sent Paul a summit for younger investors held by a company that pushes value-based investing. The truth is companies profit from young investors who want to make a difference. Paul cautions young investors trying to make a difference in the world with their money because companies will market products that seem to make a difference, but the money doesn’t actually go to the cause; it goes to the fund company. Paul explains what happens to your money when you invest, why the returns are so low for these funds, and how you can use your money in ways that line up with your values. Later in the episode, Paul talks about a conversation he had with an investor who was leaving to invest somewhere else.
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If you’re going to go through the trouble of doing estate planning, you need to keep your heirs involved in the process. An inheritance should be a gift you give to your loved ones, but can quickly become a nightmare. Today, Evan brings a recent WSJ article called “The $1 Billion Art Collection That’s Tearing a Family Apart” to talk about the goal of an estate plan and how to keep your estate from becoming part of a legal battle that separates a family. Later in the episode, Evan brings a few common tools our brains use to make sense of the world around us that are actually “false patterning.”
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Taking care of your mind and body are two of the most important parts of finding fulfillment in retirement. Today, Paul and Anne discuss a recent book about Nobel Prize winner Adam Smith and what it takes to stay sharp in your 80s and beyond. Listen along to hear what happens to your brain as you age and the steps you can take today to improve your mental health. Later in the episode, Paul and Anne look at a preliminary study about whether or not working with a CFP can improve your marriage.
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