Cover Your Assets KC Podcast

Do you actually need to have life insurance or is it just another expense? David talks through the importance of life insurance and how it might be worth having as a part of your financial plan.   Read more and get additional resources here:  https://coveryourassetskc.com/episode-74-do-you-really-need-life-insurance/     Today's show schedule:  0:22 - Why is “life insurance” a bit of a dirty word...

Between coronavirus fears and the current market volatility, how can you navigate this turmoil wisely? What should you be doing with your money?   Read more and get additional resources:  https://coveryourassetskc.com/episode-73-coronavirus-the-economy-navigating-the-turmoil/     Today's show schedule:  1:04 - It’s a lot to navigate through this pandemic. No one knows how it will all unfold. 2:08...

In response to coronavirus, the CARES Act has been passed. What will this mean for you and your financial planning? Let's look at the three biggest provisions in this stimulus bill.    Read more and get additional resources here:  https://coveryourassetskc.com/episode-72-3-key-provisions-in-the-cares-act/     Today's show rundown:  2:11 - What are three key provisions in the CARES Act? 3:14 - Free...

Sometimes you hear a quote that might have been said a long time ago, but it still rings true today. What quotes from Will Rogers apply when it comes to making financial decisions?   Read more and get additional resources here:  https://coveryourassetskc.com/episode-71-financial-planning-wisdom-and-quotes-from-will-rogers/     Today's rundown:  0:36 - There are three kinds of men says Will Rogers....

When it comes to your financial plan, are you basing it off of facts or fiction? Consider the decisions you’re making and where you’re getting your information. We'll help you do that on this episode.   Read more and get additional resources:  https://coveryourassetskc.com/episode-70-are-these-financial-views-fact-or-fiction/     Today's rundown:  0:29 - Fact or Fiction: Your Social Security is ta...

In March, we usually spend a lot of time paying attention to basketball. While it’s not on right now, let’s talk though some of the strategy behind the game as it applies in our own lives.   Read more and get additional resources here:  https://coveryourassetskc.com/episode-69-finan…nd-off-the-court/     Today's rundown:  0:52- How does the shot clock in basketball relate to financial planning? 2:...

What can you do while the market goes downward? What kind of impact with the coronavirus make on your financial plan? Today we'll lay out three steps you can take in the midst of the volatility.   Read more and get additional resources here:  https://coveryourassetskc.com/episode-68-coron…ntinues-downward/     Today's rundown:  0:28- Continuing the conversation about the coronavirus and economic u...

The market has fluctuated dramatically in recent weeks and we’ve seen much more down than up. What is causing this? Is it all about the coronavirus? Should we be concerned or do something different with our portfolios?   Read more and get additional resources here:  https://coveryourassetskc.com/episode-67-coronavirus-market-volatility-3-reasons-stocks-are-down/     Today's rundown:  0:41 - People...

Have you heard about Roth conversions? Wonder if it’s the right thing for you? David talks through different scenarios related to Roth conversions to see if it’s something that could benefit you.     Read more and get additional resources here:  https://coveryourassetskc.com/episode-66-everything-you-need-to-know-about-roth-conversions/     Today's rundown:  1:38 - What is a Roth conversion? 3:37...

Do you want your net worth to be higher? How can you increase it? You can do it by implementing these four simple strategies.   Check out the show notes and get additional resources here:  https://coveryourassetskc.com/episode-65-4-simple-strategies-to-increase-your-net-worth/     Today's show rundown:  2:19 - You may know the strategies to do, but you have to take action. 3:10 - Start by knowing...

It’s never a great idea to make assumptions and that’s especially true when it comes to your money and your retirement. Let’s identify the common assumptions people make with their financial planning that could end up really costing you in retirement.   Check out the show notes and get additional resources here:  https://coveryourassetskc.com/ep-64-dont-make-these-retirement-assumptions/     Today...

Ever wonder what it is they aren’t telling you when it comes to your financial decisions? What are those dirty little secrets in the financial world? And how can you strategize accordingly?   Show notes and additional resources:  https://coveryourassetskc.com/episode-63-the-dirty-little-financial-secrets/     Today's rundown:  0:58 - Nobody can predict the future. 2:06 - Most of the things we argu...

What are the rules now when you inherit an IRA? How has the SECURE Act changed things, and what was a stretch IRA? It’s the second installment of our series on the SECURE Act and what it means for your retirement.   Show notes and additional resources:  https://coveryourassetskc.com/episode-62-secure-act-changes-part-2-inherited-iras/     Today's rundown:  0:47 - What are inherited IRAs and how do...

Are you wondering what the SECURE Act means for you? Whether you are in your childbearing years or 70 and a half, the changes will impact you and your financial plan.   Read more about the SECURE Act here:  https://coveryourassetskc.com/episode-61-six-key-changes-in-the-secure-act-part-1/     Today's Rundown:  1:53 - Is the SECURE Act significant? 2:41 - There is no maximum age to contribute to an...

While it’s not a fun topic to consider, long term care is an important part of a financial plan. Do you know how you plan to address long term care needs?   Show notes and additional resources:  https://coveryourassetskc.com/episode-60-how-to-plan-for-long-term-care-needs/     Today's rundown: 0:12 - How important is long term care? 1:10 - How realistic is it for someone to self-insure? 2:30 - Wha...

Do you want the good news or the bad news first? When it comes to financial situations, you hope to not have any bad news. In these four statements, David explains why the good news to follow isn’t really enough to soften the bad news.   Show notes and additional resources:  https://coveryourassetskc.com/episode-59-the-good-news-and-bad-news-in-financial-situations/     Today's rundown:  0:44 - Th...

As you enter the new year, do you have these items on your list of resolutions and to-dos? For those over 60 years old, this list will help you gain the clarity and confidence in your financial direction.   Show Notes and Additional Resources:  https://coveryourassetskc.com/episode-58-5-financial-new-years-resolutions-if-youre-over-60/     Today's Rundown:  1:29 - What resolutions to follow betwee...

If you’re under 50, this list of financial resolutions is the perfect way to start of your year. Having these financial details in place will give you a direction and peace of mind as you enter into the new decade. Show Notes and Additional Resources:  https://coveryourassetskc.com/episode-57-5-financial-new-years-resolutions-if-youre-under-50/ Today's Rundown: 2:20 - Calculate a net worth stateme...

Whether you are nearing retirement or already in it, you may be ready to gift some of your money to future heirs even before you die. What kind of taxable event does giving a financial gift cause?   Show Notes and Additional Resources:  https://coveryourassetskc.com/episode-56-understanding-the-gift-tax/     Today's Rundown:  1:31 - Debunking the estate tax problem. 4:35 - What gift amount creates...

It takes a lot to get David worked up, but we found some things within the financial industry that drives him and other good advisors crazy. Let’s find out what those are on today’s episode.   Show Notes and Additional Resources:  https://coveryourassetskc.com/financial-things-that-drive-you-crazy/     Today's Rundown:  0:36 – When folks come in and you find all these hidden fees they knew nothing...

Do you feel like you have a handle on what to expect when it comes to Social Security? Are you clear on what your benefits may be and when the best time is to start taking them? If not, this is a good place to start as we review the top five common Social Security misunderstandings.   Show Notes and Additional Resources:  https://coveryourassetskc.com/episode-54-top-5-social-security-misunderstand...

Financial advisors hear a lot of crazy things when it comes to managing money. But do you want to know what they never hear? Have you said any of these things to your advisor?   Show Notes and Additional Resources: https://coveryourassetskc.com/ep-53-things-nobody-says-to-their-financial-advisor/   Today's Rundown:  0:56 - “I regret putting money into my Roth IRA.” 1:45 - What are the key benefits...

Did you recently inherit an IRA? What rules do you need to know and what options do you have in order to make the best decision for you and your family?   Show Notes: https://coveryourassetskc.com/episode-52-3-things-to-know-about-inherited-iras/   Today's Rundown:  1:22 - What do you need to know about a normal IRA?    2:48 - What if you inherit an IRA from a spouse? 3:47 - What happens with an i...

Perhaps you have several different investments and mutual funds. Does that mean you have proper diversification? Not necessarily!   Show Notes: https://coveryourassetskc.com/episode-51-keys-to-diversifying-your-portfolio/   Today's Rundown:  0:28 - How does the average person define diversification?  1:53 - What does diversification really look like? 3:12 - Is it possible to be too diversified? 5:...

What should you be considering when building a retirement plan? Instead of following a cookie cutter plan, know what you need to factor in to ensure your retirement plan suits your needs. Show notes: https://coveryourassetskc.com/ep-50-variables-that-shape-your-retirement-plan/ Today's rundown:  1:53 - How much income do I need in retirement? 4:50 - What will push me into a different tax bracket i...