Wise Money Tools

Hi everyone and welcome to another wealthy and wise Wednesday. Hope you're doing great? Got a little background music going for you here. Maybe that will trigger a lot of memories for some of you with a little gray like I do and for others I just want you to know that the greatest music ever in the history of America was pretty much the seventies. So check it out. Anyway, I love those that era. We...

Well, hi everyone! And welcome to another Wealthy and Wise Wednesday. Glad you could join us on our video and podcast today! So how was last week for you? Last week was Thanksgiving. I hope you had a great one, ate a lot of Turkey and pie and maybe had a good nap too. 00:00:30 At the risk of dating myself, I'm going to tell you one of my favorite things as far as music is concerned, I love the old...

00:00:32 Hi everyone! Glad you could join us today. We've got kind of a podcast/videocast thing going on and glad to have you with me. This podcast is going to come out on Wealthy and Wise Wednesday, the day before Thanksgiving. So tomorrow is Thanksgiving. I hope you have a really good one. I hope you've got a lot to be thankful for and I hope you have family and friends around you to enjoy the d...

00:00:47 Hi everyone! This is Dan Thompson. And I want to welcome you again to another Wise Money Tools podcast. We're also going to shoot a video on this as well. 00:00:56 Today, I thought it would be good to talk about what we'll call Debt Discipline . 00:01:00 Now, don't get too worried about it. We're not going to talk about debt and get you all depressed and all that stuff. We're really wanti...

This is Dan Thompson and welcome again to our Wise Money Tools podcast. I want to ask you a question here. So if you could go back in time and see yourself, let's give ourselves, 15 or 20 years—what advice would you give yourself? Sometimes I think, if I could go see myself 20 years ago, what advice would I give myself? You remember that show Back to the Future II ? This is where Biff, since he go...

What is Sequence of Return? Does it matter? Find out what happens when it's time to retire and withdrawal money for income. You may be surprised at how the markets can either give or take away years of income. Be prepared by understanding the risks, and the gamble of sequence of returns.

I wish I kept some kind of count as to how many people I've talked to over the past nearly 33 years. I know it's in the thousands for sure. What is interesting is that even though there are some common themes, frustrations, goals and objectives, that run through people's financial situations, everyone is just a bit different. I realized early on that there is no such thing as cookie cutter financi...

A few years ago, I was talking with a couple who were about 2 years away from retiring. They had no idea how they were going to live. Don't get me wrong, they had a pile of money and lots of assets, but no plan as to how or where the income they needed would come from. As we looked at their investments and assets literally everything except about $50,000 was invested in the markets, all at risk, a...

The truth you must know about retirement. The pension is all but extinct. Retirement income is all on you. Where is it going to come from? What percentage of your assets can you spend each year, to make sure your money will last as long as you do? Everything has changed - and what you don't know, can hurt you. We'll talk about the critical retirement information you need to have a successful and w...

Debtor or Cash Buyer Are you a debtor or a cash buyer? What if I told you there isn't a lot of difference between them in the end? What are we told if we pay cash for big purchases? We're told that we'll save money and not pay interest. Of course, that is true – and interest can stack up. Listen to the quote regarding interest: Interest never sleeps nor sickens nor dies; it never goes to the hospi...

Where are we at so far We've defined a couple of things Pensions are all but history for most Americans Accumulating assets for retirement is pretty much up to you You better figure out how you are going to get a steady paycheck when you retire Annuities can offer a guaranteed income for life Have you ever looked at investing in an annuity? It can be overwhelming. There are a lot of choices and so...

Every retiree faces the same risks when it comes to taking income from their investments and savings. They are: Investment/Market risk Withdrawal Rate Risk Sequence of Return Risk Inflation Risk Deflation Risk Longevity Risk We better take a look at each of the risks and how they can impact you. Investment/market risk: This is pretty simple. If you have your money invested and at risk, you can suf...

Dr. Menahem Yaari turned the economic world upside down when he stated in 1965 that a retiree who wanted to maximize his income would put all of his money into a lifetime income annuity and that there was no other alternative that could guarantee a more optimal solution. The reason for this has to do with "Mortality Credits" ( MCs ). By combining your money with others in what is known as a risk p...

Have you ever seen a video of someone jumping off a diving board into a swimming pool, but somehow end up doing a BELLY FLOP? It's funny unless of course, it's you, right? The same goes for retirement and income planning. It's not so fun if you are the one that runs out of money and more and more retirees face that horrific event. But it doesn't have to be that way! I watched a video the other day...

Have you heard of Barber Shop Advice? Now before you get all over me, I'm not disparaging barbers around the globe. What it refers to is the stereotypical barber shop where gossip flies, oh, and let's not forget the beauty parlors too, it's just the gossip from there may not be of a financial nature. I'm going to get myself into trouble here aren't I. Now, go easy on me, we all know these are just...

If you've been planning for the eventual day of retirement, well, there are a few things you might want to know! In this episode we'll talk about 5 critical things you must know for a successful retirement. If you have any questions, contact me at questions@wisemoneytools.com Take care!

If you live long enough, sooner or later it will happen to you. You'll lose a loved one. The truth is, none of gets off this planet alive. The best thing we can do is make sure we don't leave behind a mess for our families....let's get prepared. I lost my black lab Shadow this week. Sad to see him go. He was a great dog!

Have you ever been repelling off a Cliffside? A few years ago, we were in Cancun and did a zip-line and repelling tour. For those on video or on our podcast page, you can see a picture. If you've gone repelling, maybe you thought the same thing that was going through my head, will this rope hold me? I did a little research and found out that repelling ropes can withstand a falling weight of just u...

As we progress in life there are different stages that most of us go through. Many of us have gone through all four stages, some of you are getting started and others are right in the middle of it. They go something like this: Struggling Surviving Arriving Thriving Struggling – this is the fun one, right? Haha If you've ever had to go through this stage then you know how difficult it can be. It's...

Benjamin Franklin provides us with an actual rather than a hypothetical case. When Franklin died in 1790, he left a gift of $5,000 to each of his two favorite cities, Boston and Philadelphia. He stipulated that the money was to be invested and could be paid out at two specific dates, the first 100 years and the second 200 years after the date of the gift. After 100 years, each city was allowed to...

Everyone has a wealth tree, large or small, it's there. Knowing how to cultivate and grow your wealth tree can make a big difference in your finances and investing. Understanding the different types of assets, and where they fit into your wealth tree, is critical in keeping your wealth tree strong and immovable.

This is Dan Thompson and welcome to our Wise Money Tools podcast, it's great to have you with us. I'm really looking forward to doing these podcasts. We have a lot of good stuff planned and I think you're going to get a lot from them and hopefully enjoy them in the process. I've been doing videos for many years, and I think these podcasts is going to be a lot of fun, and extremely informative for...

Hi everyone, this is Dan Thompson, and I'm really excited to get these things rolling! So, I want to welcome you to our podcast. I've been asked for a few years when we'd finally get a podcast going and now's the time. As many of you know we have a lot of videos out there, but a podcast can be a little less formal, we'll have some guests, and I think it will be great. I'm excited to share with you...