Cover Your Assets KC Podcast

As some of us look toward setting goals in the new year, you might have running a race on your list. How are you doing when it comes to running the marathon of planning and saving for the future? Today, we talk about how running a race like a marathon has a lot of parallels with retirement planning.   Here are four life events you’ll want to be prepared for: Training and preparation are required....

Let’s explore four major life events you might face that could cause you to make significant financial decisions. Instead of going with your knee-jerk emotions, David explains how you can approach these situations with reason and wisdom. He breaks down what questions you’ll want to consider and how to set yourself up for a strong financial future.   Here are four life events you’ll want to be prep...

After the last few podcasts and a few client meetings, David shares some recent listener questions he has received. These specific situations will cover things like Roth conversions, the rule of 72, inherited IRAs, and making wise financial decisions. As always, if you have a question for David, be sure to reach out!   Here are the listener questions David answers on today’s podcast: I’m 62, retir...

What could possibly be the benefits of inflation? Since the increased living costs have been hard to handle lately, David helps us look at the bright side of inflation on today’s show. From the higher dollar amount you can contribute to your IRA to changes in the tax brackets, David shares the numbers you’ll want to know.   Here’s what to add to your financial to-do list: There is a big Social Sec...

Every listener should care about RMDs, regardless of your age. If you inherit an IRA, you’ll have a required minimum distribution, even before you reach the age of 72. One thing you always want to avoid are penalties! David gives a breakdown on what to expect with RMDs and how to calculate yours.   Here’s what to add to your financial to-do list: Everyone should know and care about RMDs. (3:38) Ho...

With a couple months left before 2022 comes to a close, David has a list of things to focus on and take care of in your financial life. Whether you are retired or full-time employed, these are things you won’t want to overlook before the year ends. Don’t wait until the last minute! Now is a great time to work on these things.   Here’s what to add to your financial to-do list: Max out your IRA or 4...

When you retire, there are a few things that could throw your plan off track. Without a good plan, you could get nervous as things change in the market. Following rules of thumb may be a good place to start, but as time goes on, some of these rules may change. Are you prepared for these unexpected challenges? Here’s what we discuss on today’s show: Why we should pay attention to these challenges....

When it comes to bonds, there is often a lot of misunderstanding. Most people assume they are safe, but lately the news has talked about the risk and demise of bonds. Which is it? Within your portfolio, you likely own bonds, whether you realize it or not. David explains the ins and outs of bonds and how they can benefit your portfolio. . Here’s why you might consider also investing somewhere else:...

On a previous show, we mentioned a Mailbag episode coming up. Instead of a traditional Mailbag, we have a conglomerate episode to discuss the questions we have been getting about the market from clients and listeners, alike. In this episode, we discuss the stock market, how to determine what is overvalued vs. under-valued, and learn how you can use the Price Earning Ratio to look at individual sto...

If you’ve been watching the news, you may be following the hurricane on the East Coast this week. As the meteorologist talks through it, there are a lot of graphics to go along with the information to explain what to expect and how hurricanes work. Similarly, when retirement planning, we use a lot of ways to discuss what you should expect and how to prepare. Here’s why you might consider also inve...

You may have heard some of these rules of thumb before but should they be followed? A rule of thumb may be used as a starting point, but is no replacement for a custom financial plan created with your unique needs and goals in mind. David talks today about which of these are good financial guidance or which of these rules could leave you astray. Here’s why you might consider also investing somewhe...

We talk a lot about investing in 401(k)s and Roth IRAs, but what about investing in something else? David gets questions about this topic from young and old alike, so today we’ll talk about some alternative options and why you might choose to do so. Here’s why you might consider also investing somewhere else: There is freedom in having these other investment options. (4:16) Be prepared for your ta...

Once you’ve made the decision on some of these financial things, there’s no going back! Let’s talk through a few areas you want to make sure to carefully consider before making the decision.   Key Points: 0:40 - What is David up to this weekend? 1:40 - What happens when you start Social Security? 5:23 - How rigid is the decision to elect spousal benefits on your pension? 7:43 - Get life insurance...

Why would you get life insurance after the age of 65? David shares three good reasons why you might consider using this financial tool.   Key Points: 0:34 - David has been spending some time on the golf course! 4:08 - Why should we consider life insurance after 65? 5:00 - Some use life insurance for income replacement. 8:03 - Some policies can help cover long-term care needs. 11:04 - Having enough...

What kinds of things do you need to plan for? While you might not know what the future holds, you can be financially prepared for it.   Key Points: 0:40 - We can’t wait for some fall football! 2:19 - What retirement uncertainties are there? 4:04 - What is your life expectancy? 6:02 - Future tax rates are unknown but should be considered. 10:30 - What about the solvency of Social Security.   12:42...

What should you do with those retirement savings? Whether you are leaving a job or navigating big expenses in retirement, David is here to answer a few questions from the mailbag.   Key topics on this episode:  1:32 - Mailbag: Should I spend money on home updates in retirement? 8:24 - Mailbag: Should I convert my IRA rollover into a Roth?   For additional financial resources, visit us online: http...

From credit cards to Social Security, David shares his thoughts and advice regarding these common financial concepts. Which of these do you agree or disagree with?   What we discuss on this episode:  1:45 - Should you always pay off your house ASAP? 4:07 - Nobody needs life insurance in retirement? 6:59 - Should you never use credit cards? 8:37 - Buy mutual funds or ETFs instead of individual stoc...

Wondering what you need to know about a bear market, a mutual fund, or a recession? David tackles these sometimes confusing topics and shares the essentials you should know.   What we discuss on this episode: 0:46 - The Chiefs are getting up and running again! 1:20 - Let’s talk about some financial jargon. 2:05 - What should you know about bear and bull markets?  6:07 - Why is diversification impo...

Is now the right time to do a Roth conversion? David talks about which questions to ask before making the move.   What we discuss on this episode: 1:53 - Am I too old for a Roth conversion? 3:52 - What’s my tax rate? 9:07 - When will I start to need money from my IRA? 11:07 - Do I have non-IRA money to pay the tax? 15:19 - Taxes are low now but 2025 is right around the corner.   Get additional fin...

Is now the time to sell or time to stay put with your investments? David shares what to look for to determine when we’ve hit the bottom and when to invest.   What we discuss on this episode: 0:24 - It’s the dog days of summer! 1:38 - What do the experts say about the market? 4:26 - Is it too late to sell? 13:11 - Should we continue to buy even as it goes down?   Get additional financial resources...

Following some of our recent podcast topics, David answers a few questions from listeners wanting to get more information. Then, David shares his thoughts on untrustworthy advisors and what to do to avoid them.   What we discuss on this episode: 0:41 - David loves listener questions. 1:13 - Mailbag: What is the IRS requirement about the wash sale rule? 4:36 - Mailbag: When can I offset gains with...

Should you be considering a Roth conversion right now? David talks about the unique opportunities that a bear market provides.   What we discuss on this episode: 1:20 - Let’s talk about one of David’s favorite topics! 1:48 - What is a Roth conversion? 5:08 - Why would someone want to do a Roth conversion? 7:06 - How does a bear market impact a Roth conversion? 9:03 - Don’t wait for a market recove...

What’s the silver lining in a down market? David shares what might be a benefit to you, despite the losses you may currently face.   What we discuss on this episode: 0:49 - Listener feedback is always welcome. 1:49 - How should we look at taking losses in our portfolio? 3:12 - What are the basic types of accounts and which one are we talking about?  7:41 - Why talk about it now?   Get additional f...

Is the economy making you nervous right now as you near retirement? What can you do right now to keep your investments and your sanity intact?   What we discuss on this episode: 0:27 - Are you almost retired and worried about the market? 2:30 - Do you have a plan for your money right now? 8:20 - People sell out of fear. What can you do instead? 19:43 - What should you do now?   Get additional fina...

No one wants to make a mistake when it comes to their hard-earned money! David talks through common mistakes people make with an IRA and how to avoid them.   What we discuss on this episode: 0:32 - Let’s talk about common IRA mistakes.  2:28 - Worried about the five year rule? 5:37 - Is your 401(k) diversified before you retire? 7:56 - Are you being strategic about RMDs? 13:17 - There’s no do-over...