Long Story Short

The headlines around Morningstar's updated safe withdrawal rate study sent many retirees into a panic. The so-called "4% rule" just became the "3.9% rule," which sounds like a rounding error worth ignoring. But Adam breaks down why the assumptions behind that number matter much more than the headline itself. The conversation moves to estate planning and an interesting Wall...

In this look back at 2025, Adam and Andy break down the charts and trends that defined the year. From international equities quietly outperforming U.S. stocks by nearly double, to gold unexpectedly beating Bitcoin, the year delivered some surprises most investors missed. They discuss why bonds finally delivered the returns investors have been waiting for since 2022, what drove the massive AI infra...

Welcome to 2026. In this episode, Adam and Andy kick off the new year by breaking down the financial housekeeping tasks you should tackle in January, plus key tax law changes taking effect this year. They also address the question everyone's asking: Can this bull market keep going? Adam walks through historical data showing that the current 38-month, 90% rally is actually quite average compare...

Adam and Andy tackle an important investment decision: how to divide your portfolio across cash, bonds, stocks, and alternatives. They start by explaining the two factors that actually matter for determining asset allocation: your personal risk tolerance and how much income you need from the portfolio. Age-based rules like "subtract your age from 100" completely miss these critical input...

Adam and Andy explain required minimum distributions (RMDs) after fielding countless year-end questions from clients. If you've ever been confused about when RMDs start, how they're calculated, or what happens if you mess them up, this episode covers everything you need to know. The conversation shifts to CNN's Fear & Greed Index hitting "extreme fear" after just a 5% mar...

Adam and Andy dissect a Wall Street Journal article calling for a prolonged bear market to "fix" investor behavior. Spoiler: the argument falls apart under scrutiny, considering we've had five bear markets since 2008. The conversation shifts to Bitcoin's recent decline from all-time highs and why retail investors might actually be getting smarter about crypto volatility. Then the...

As Thanksgiving approaches, Andy and Adam tackle money conversations at every life stage. From teaching kindergarteners about spending, saving, and giving to helping retirees navigate Social Security claiming decisions. Andy shares his new allowance system for his 5-year-old, designed to build lifelong financial habits through three buckets: give, save, and spend. The conversation then shifts to c...

Post-Halloween candy rankings lead into two big topics: life insurance strategies and bubble fears. Adam discusses term versus permanent life insurance, explaining why term policies make sense for most people and when permanent policies might actually fit. He covers laddering strategies, the investment component of permanent policies, and why most people just need pure coverage at the lowest cost....

Andy dresses up as an index fund for Halloween (yes, really). The costume sparks a conversation about what index funds actually are, why they've dominated recent returns, and what happens when mega-cap stocks stop outperforming. Plus, Adam breaks down three approaches to retirement spending - from detailed spreadsheets to the famous 4% rule to a more flexible guardrails method. They also discu...

Open enrollment season is here, which means it's time to review your Medicare coverage. Adam walks through the ABCs of Medicare, explains the difference between original Medicare and Medicare Advantage, and shares why even if you're happy with your plan, an annual review matters. Plus, Andy and Adam tackle two common retirement questions: how to reduce those dreaded required minimum distri...

Markets dropped 1% and the headlines went wild. Andy and Adam cut through the noise to explain why this is completely normal, what the recent data tells us about stock picking versus index investing, and why all-time highs aren't something to fear. They also tackle a critical retirement question: how do you know when you've saved enough to actually spend your money? Plus, Adam shares why a...

Andy lives right outside DC, where government shutdowns actually matter. For the rest of the country? Not so much. Markets barely react to these political theatrics anymore. Seven out of ten shutdowns since 1980 saw positive stock returns. The worst decline was 2% back in 1990. But there's a tax change coming in 2026 that does matter: if you make over $145,000 and contribute catch-up dollars t...

Andy opens with a confession: industrial psychology taught him that job interviews are terrible predictors of success. That same human irrationality shows up everywhere, especially in investing. The hosts walk through seven behavioral biases that trip up even professional investors. From overconfidence after hitting it big on Nvidia to confirmation bias keeping us stuck in echo chambers, these men...

Halloween decorations are acceptable, but $7 trillion in "cash on the sidelines"? Andy explains why this bullish talking point might be overblown when you examine the actual numbers relative to market size. Plus, Andy & Adam discuss the complex world of 351 conversions - a 100+ year old tax code provision that's suddenly relevant for modern ETF launches. From charitable remainder...

Adam and Andy record live from Jackson Lake Lodge in Wyoming. It’s the same scenic backdrop where the Federal Reserve holds its annual retreat. Fitting timing, as they're discussing the Fed rate cut happening that very day and what it really means for your money. They tackle a listener question about cutting through financial media noise to find the truth beneath the headlines. From Paul Volck...

Andy's elaborate NFL betting model, designed to win a family football pool, always loses to his aunt who watches three games a year. This perfectly illustrates the over-optimization trap that plagues everything from fantasy football to financial planning. Adam and Andy explore why the pursuit of perfection in long-term planning often backfires, from clients demanding 12.3% returns to the fatigue t...

Bill Belichick coaching UNC proves retirement needs purpose, but the real surprise this year has been international markets. Andy and Adam break down why overseas stocks are quietly crushing US returns, plus advanced strategies for charitable giving and health savings accounts. From Germany leading global markets to donor-advised funds and charitable remainder trusts, this episode covers the sophi...

College football season is starting, but Adam and Andy are more excited to tackle annuities (sort of). They explain why these "guaranteed income" products usually don't make sense, from hidden costs to lost flexibility to expensive fees. Plus, they address recession fears while markets sit at all-time highs, discuss whether the AI trade is really dead, and debate the government's...

A major alternative investment platform just made headlines for all the wrong reasons. Andy and Adam discuss what went wrong with YieldStreet and why “investing like the 1%” isn't as simple as it sounds. Plus, they tackle a listener question about withdrawal strategies during market downturns. When you need money from your portfolio during bear markets, how do you avoid selling stocks at fire-sale...

The AI trade is back in full swing, but should you chase it? Andy and Adam discuss why investment themes can be exciting but dangerous, and how to think about hot trends like AI, data centers, and nuclear energy. Plus, Adam walks through the basics of family gifting strategies. From annual exclusions to gifting appreciated stock, they cover practical ways to help family members while potentially s...

Alternative investments are coming to 401(k) plans for the first time. Is this great news for regular investors or a recipe for disaster? Andy and Adam debate whether Main Street should get excited about accessing private equity and private credit, or whether these investments will just be expensive versions of what people already have. Plus, Adam walks through why retirement completely changes yo...

The Romans invented retirement in 13 BC for soldiers who served 20 years. Today, you might be retired longer than you actually worked. Andy and Adam explore why traditional retirement investing advice doesn't work when you're looking at a 40-50 year retirement. They discuss the psychology of switching from accumulation to distribution, the real math behind withdrawal rates, and why the old 60/40 p...

Should you spend more or save more? And what's the best way to fund your grandchildren's education? In episode 4 of Long Story Short, Andy Pratt and Adam Newman tackle the financial advice that seems to contradict itself. From "stop buying Starbucks" to "die with zero," they explore how to find the right balance for your situation. Plus, they break down the practical di...

Andy and Adam tackle two critical topics every investor should understand: the new tax legislation and why chasing dividend income might be costing you money. Fresh off Adam's solo deep dive into the 900-page tax bill, they break down the key changes that matter most to clients. Then Andy explains why he gets fired up about dividend-focused investing strategies and shares a real client example...