Your Money & Your Life Podcast

Today we’re talking about media hype and how it can lead people to make bad financial decisions that could cause problems with or ruin their retirement. Find out if you have fallen for any of this hype.   What we discuss:  3:00 – Bitcoin 3:59 – Rhode Island couple 9:40 – Questionable Internet scheme 11:40 – Buying gold 14:20 – Investing in crypto 16:15 – Required minimum distributions   Resources:...

We are wrapping up our series on economic storms this week by focusing on the media. Between constant headlines and breaking news, there can be a lot of news to sift through. So, what should we expect from the media throughout 2022?   Screen Time - https://www.comparitech.com/tv-streaming/screen-time-statistics/#:~:text=The%20average%20American%20spends%20over,at%20a%20screen%20every%20day . The S...

What other economic storms can we expect in 2022? We’ll discuss stock market dips, geopolitical tensions, and more today.   What we discuss:  0:49 – Kids are back in school 4:37 – Historical tax rates 6:54 – Stock market turmoil 9:33 – Selling out of panic 10:56 – Diversification matters 12:57 – Geo-political risks 15:13 – Supply chain issues 17:51 – Increase in rent 19:12 – Top expenses 22:39 – Q...

What economic threats should we be preparing for in 2022? We’ll discuss inflation, taxes, and political turmoil today and how these storms could impact your plan.   What we discuss:  1:05 – We are into 2022  3:09 – There is a lot to worry about  6:09 – Inflation touches 7% 10:04 – Prepare for inflation 12:40 – Taxes in the short term and long term 17:03 – State income taxes  19:52 – Stealth taxes ...

As 2021 comes to an end, what can we learn from this year? On today’s episode, we’ll discuss some of the top headlines and predictions of this year. How many of those predictions turned out to be correct?   Read and get additional financial information: https://doncashpodcast.com/podcast/2021-year-in-review/   What we discuss:  1:06 – 2021 is coming to an end 2:47 – Highlights, headlines, and pred...

Giving Tuesday was this week and we are entering the most charitable time of the year. What do you need to know about charitable giving and taxes?   Read and get additional financial information: https://doncashpodcast.com/podcast/the-season-of-giving/   What we discuss:  4:09 - Itemized deductions vs. standard deductions 8:20 – Allowance of $300 9:39 – RMDs and giving 12:14 – What if you are unde...

Inflation! We are seeing it everywhere. From the gas we buy to our Thanksgiving turkeys, prices seem to be going up everywhere. How does this affect Medicare? Well, you’ll probably be paying more on premiums. Will the infrastructure bill make inflation worse? That remains to be seen but you should stay vigilant. We will discuss these issues and how they impact you on today’s show.   Read and get a...

It is open enrollment season for Medicare! On today's show, we are going to discuss Medicare with expert Ray Martin. We will be covering the different types of plans, premiums, and tips you should be aware of as you reach age 65 and beyond.    Read and get additional financial information: https://doncashpodcast.com/podcast/the-abcs-of-medicare/   More Resources:  A Brief History of Medicare - htt...

What should you be planning for as you reach 50? What is the best age to take Social Security? Today, we are going to go over some key ages to be aware of as you plan for and approach retirement.    Read and get additional financial information: https://doncashpodcast.com/podcast/important-ages-in-retirement/   What we discuss:  0:30 – What’s new? 3:15 – Important ages 4:50 – Turning 50   6:50 – C...

You’ve probably heard about the recent tax proposals in Congress. How will they affect your financial future if they pass? Today we will discuss these proposals, while also taking it back to 1981 to discuss bond rates.   Read and get additional financial information: https://doncashpodcast.com/podcast/bonds-interest-rates-and-tax-proposals/   What we discuss:  0:36 – Happy October! 4:07 – 1981 Art...

What can get in the way of your financial success? Today we are talking about a few financial biases such as the fear of missing out and overconfidence. We will also discuss how to avoid these biases.   Read and get additional financial information: https://doncashpodcast.com/podcast/5-financial-biases-to-avoid/   What we discuss:  0:50 - How has the summer been? 2:11 - Why should we care about ho...

Today we have a special episode of the podcast for you. With the 20th anniversary of 9/11 approaching, Don invited special guest Kevin Haney onto the show to talk about how his work took a turn after September 11th and what it meant for his life.   Read more and get additional financial resources here: https://doncashpodcast.com/podcast/finding-a-new-path-and-perspective-after-9-11/   About our gu...

Today we’re excited to bring on special guest Brien Dunphy, who is a business consultant that balances work with his family of 10 kids in New Jersey! How do they possibly manage the finances? (Hint: Brien is not rich or living on a trust fund) Listen to Brien’s amazing story on today’s podcast.   Read more and get additional financial resources here: https://doncashpodcast.com/podcast/budgeting-ti...

Do you have the option of contributing to an HSA for medical expenses? Why does this matter? Don shares why an HSA can provide big benefits later on and in retirement.   Read more and get additional financial resources here: https://doncashpodcast.com/podcast/the-hidden-value-of-an-hsa/     What we discuss on this episode:  1:17 - Delta is making waves. 6:54 - What is the hidden value of an HSA? 9...

Is now still a good time to refinance your home? With record low interest rates, the past year has resulted in a lot of people choosing to refinance. If you haven’t done so already, have you missed your chance? On today’s episode of the podcast, Don talks through what kind of numbers to pay attention to as you determine what is best.   Read more and get additional financial resources here: https:/...

Leaving an inheritance is often a goal, but how can it be done effectively? We talk through the different mistakes to avoid and the things to pay attention to when estate planning. Show notes & more resources: https://doncashpodcast.com/episodes/ Episode highlights: 0:38 - How does Don like to travel? 3:30 - Baby Boomers are starting to distribute record amounts of wealth. 5:29 - What’s the averag...

Before you go wild with your funds as the country opens up again, what should you do with your recent savings? Don shares some strategies to make sure you accomplish your financial goals.   Read more and get additional financial resources here: https://doncashpodcast.com/podcast/what-to-do-with-your-pandemic-savings/     What we discuss on this episode:  0:42 - Happy 4th of July! 1:34 - What shoul...

The word rich gets thrown around all the time but who actually falls into that category? It’s certainly subjective but the government’s definition by directly impact your future taxes. Let’s look at some statistics and get a better idea of how taxes are generated and who is actually paying them.     Read more and get show links here: https://doncashpodcast.com/podcast/who-is-the-rich/     What we...

When should you consider moving to another state? Sometimes tax benefits may be a motivator when making this decision. Don talks about the tax ramifications when living in certain states.   Read more and get additional financial resources here: https://doncashpodcast.com/podcast/moving-to-a-tax-friendly-state/     What we discuss on this episode:  0:48 - School’s coming to an end! 2:22 - The pande...

We’ve already seen tremendous inflation in housing, lumber and other areas since Covid hit. But will that soaring inflation continue?   Read more and get additional financial resources here: https://doncashpodcast.com/podcast/new-inflation-numbers-what-do-they-mean/     What we discuss on this episode:  4:53 – Most recent concern about inflation 6:24 – What to be concerned about? 8:07 – Short-term...

President Biden is approaching 100 days in office and is about to hold his first joint session in Congress. One of the things he’ll be talking about is the capital gains tax proposal. What do you need to know about this?   Read more and get additional financial resources here: https://doncashpodcast.com/podcast/how-could-the-capital-gains-tax-affect-you/     What we discuss on this episode:  0:30...

Are you or someone you know considering living in a retirement community? What should you know ahead of time? What kind of costs might come with that?   Read more and get additional financial resources here: https://doncashpodcast.com/podcast/what-you-need-to-know-about-continuing-care-retirement-communities/     What we discuss on this episode:  0:37 - Spring has sprung! 1:57 - Senior living comm...

If you thought the last COVID relief bill was big, have you heard about the infrastructure bill and the potential tax increases to pay for it? On our last show we talked about the most recent stimulus package and what it entailed. This episode of the podcast we discuss the new infrastructure bill being proposed.   Read more and get additional financial resources here: https://doncashpodcast.com/po...

We talk through what the stimulus package includes, what it means, and where we’re headed on today’s episode. Then, Don answers a question from the mailbag about refinancing.   Read more and get additional financial resources here: https://doncashpodcast.com/podcast/what-does-the-stimulus-package-mean-for-you/     What we discuss on this episode:  0:25 - What’s going on this week as we enter into...

What’s the best approach to the market? If you think you’re picking a “good stock” what does that really mean? And how can you make a good choice? On today’s podcast, Don shares the academic approach to the market as well as a number of comparisons of how this can look in everyday life.   Read more and get additional financial resources here: https://doncashpodcast.com/podcast/wall-street-approach...