Rethink Your Money

There's a lot of noise out there when it comes to your finances. Join host John Hagensen and his guests from independent RIA Creative Planning as they cut through the headlines and loud takes to challenge the advice you may have been given and reaffirm what you know to be true. A Managing Director at Creative Planning and long-time host of the Rethink Your Money radio show, John aims to provide the most up-to-date information and freshest thinking on investing, taxes, estate planning and many other areas that impact your financial life. Make sure to subscribe on our new feed: Apple: https://podcasts.apple.com/us/podcast/rethink-your-money/id1638978691 Spotify: https://open.spotify.com/show/2Gm52JeNme9b49SfXyVZkL Important Legal Disclosure: https://protect-us.mimecast.com/s/X1EPC73yBLCVMQGNfNJ-eK?domain=creativeplanning.com/ Have questions or topic suggestions? Email us @ podcasts@creativeplanning.com

John has an exciting new podcast in development that is set to launch later this year! While "Live Richly" as you know it is going away, do not unsubscribe so that you will be notified when the new show is available. Thank you for the past several years of our discussion around life meeting money!

Reject The Home Team Bias - March 25, 2022 by The Live Richly Podcast

Sources: Nerd Wallet, The Tim Ferris podcast, Morningstar, The Wall Street Journal

Sources: Creative Planning, Ben Carlson, Morningstar, Kiplinger, USA Today

On today's podcast, John discusses how to deal with known and unknown risks.

On today's podcast, John discusses a variety of topics around the recent market volatility.

On today's podcast John discusses the following topics: Goals don't equal desired outcomes. Structure trumps discipline. Matthew 6:34 Often the best move is no move. Certainty isn't all that it's cracked up to be. ARK's fall from grace Life settlements. 2020 was a stock pickers dream scenario and 2021 had historically low negative volatility. Sources: Jason Zweig. The Wall Street Journal. Craig Groeschel. Morningstar. Ben Carlson.

On today's podcast, John discusses the following: - Legitimate diversification - What an investor's goal for returns should be - Proverbs 12:15 and 24:6 - Betterment shows how valuable nudges can be for investor behavior. - Rule of 55 - How to best predict your future behavior - Why the government is paralyzed by the advancement of crypto. - Is 2020's fiscal and monetary response representative of a new playbook? Sources: The Daily Wire, Morgan Housel, Morningstar, Kiplinger.com

Today's podcast hits on how to pivot into an incredible 2022 and how to learn from 2021. Sources: HumbleDollar.com, IrrelevantInvestor.com

Today's podcast discusses the 4 key differences for accumulating and retaining wealth. Sources: JP Morgan, Morningstar, Fox Business, CNBC, diffen.com, Department of Labor

On today's podcast John discusses a dozen money moves to consider prior to retirement. Sources: Kiplinger.com

Today's Thanksgiving Day podcast hits on the following: -Turkey Bowl Injuries -1 Chronicles 16:34. Give Thanks in All Things -Kiplinger Financial Topics for Thanksgiving Weekend -10 Little Known Thanksgiving Facts Sources: Kiplinger.com, Bestlifeonline.com, WSJ, Morningstar

Today's FBomb hits on a variety of considerations to potentially reduce your taxes. Sources: TurboTax.com, Kiplinger, Morningstar

Today's F-Bomb discusses the following: - Happy Veteran's Day - The Stock Market Says the Pandemic is Over - Gold is Still Awful - What's a Simple 401k? - 457 Plans - Be a Scout not a Soldier - 1 Thessalonians 5:16 - Money Helps, but Won't Make us Happy - 10-Year end Moves to Lower Your Taxes - Semifinals against our league's "Aaron Rodgers" Sources: Animal Spirits Podcast, Kiplinger, WSJ, Morningstar

Today's Fbomb discusses the following: - Kiplinger.com on the threat of inflation on retirees - It's not transitory - Rules for money: The Jones' aren't as rich as you think they are. - Philippians 4:8 - The value of meditation and how quieting yourself can lead to a 25B empire (JK Rowling) - Estate Planning Scenario. How do joint bank accounts get accessed during a disagreement between the two owners? - Business Entity Planning Scenario. How do Partnerships Work? - Don't forget about COBRA coverage - Retirement Planning Scenario on 60-day rollover rules - Most mistakes are due to one or a combination of 3 factors Sources: Kiplinger, Consumer Reports, Morningstar, Calculatemywealth.com, Dr. Daniel Crosby

Today's FBomb discusses the following: - Eisenhower Decision Matrix - The 5 Wrong Questions to Ask your Financial Adviser - James 1:17. God owns everything. - Parent Corner - How mutual funds are taxed and other options - 4 Big Banks Issue Stock Market Warnings - How to balance past, present, future for financial success Sources: Kiplinger, WSJ, Edelman

Today's podcast discusses the following: - Forecasts are for weathermen - Disneyland is NOT the happiest place on earth - Defense wins championships - Proverbs 27:17 - Elevate by changing your reference point - 28/36 Rule - A framework for proper healthy savings rates - Women are still better than men at humility Sources: Kiplinger, David Mclelen, Peter Mallouk, Dr. Daniel Crosby, WSJ, The Ric Edelman Show

Today's F-Bomb discusses the following: -Longevity in 2021 and the financial implications -Financial History Review -Everything Roth IRA (and 401k) -Rule For Money -4 Ways to have more satisfaction with your money -Proverbs 16:16 -Dividends aint what you think they are Sources: The Long View by Morningstar, Dr. Daniel Crosby, Kiplinger, WSJ

Today's F-Bomb discusses the following: -Life is more about reactions than actions -House Ways and Means Committee Tax Proposal -Schwab caught on their deception -Ephesians 4:2 -John's NFL week 1 takeaways -All time highs...so what!? -Ray Dalio can't figure it out so why can you or I? -8.3% increase on consumer goods from August-August -International valuations relative to US have never been more attractive Sources: WSJ, Charles Schwab, Investment News, USA Today, Forbes, Vanguard

Today's special episode hits on some of John's favorite reads from the past year or two. Faith: Something Needs to Change - David Platt The Ruthless Elimination of Hurry - John Mark Comer Family: Play to their Strengths - Brandon and Analyn Miller Finance: The Psychology of Money - Morgan Housel Football: The Dynasty - Jeff Benedict

Today's F-Bomb discusses the following: Confirmation Bias Delete Social Media Own It: Your Success is on YOU! ETFs: The pros and cons Broker/Dealers won't let antiquated retail mutual funds die the death they deserve Hometown International Stock 5-Questions to ask when interviewing a financial adviser Sources: WSJ, Ric Edelman Truth about Your Money, Dave Ramsey, CNBC, Investopedia

Today's FBomb discusses the following: Preseason football is an awful watch Gold still stinks The IRS Dirty Dozen are now available S&P 500 sizes Britney Spears conservatorship.

Today's FBomb discusses the following: Impossible to cancel companies Student loan moratorium extended Market froth isn't everywhere 2 Corinthians 9:7 What to expect out of your portfolio What rate of return do you need to accomplish your goals? Be aware of your limitations Once you've accomplished your goals financially...then what? Sources: The Compound and Friends, WSJ

Today's F-Bomb discusses the following: -Inflation Soaring -One decision can answer many others -Rich Barton founded two monster companies -Matthew 6:24 -Keep your investing simple -Farewell Leo Messi -The enormity of the nation's largest stocks

Today's F-Bomb discusses the following: - Vasectomies and frozen peas - "The measure of your wealth is how much you'd be worth if you lost all your money." - NBA Draft - John's Rules for Money: Behavior is Everything - Proverbs 22:7 - Fed Funds Rates - Simplification is key - Debt and Leverage aren't the same. Dave Ramsey is just flat wrong. Sources: BlairBellCurve.com, WSJ, Ric Edelman, Morningstar, The Ringer

Today's F-Bomb discusses: - Air travel is back - Perspective is more important than circumstances - Aaron Rodgers needs to reassess how good he has it - James 1:11, we're all dying and we can't take it with us - 1/2 of all Baby Boomers will suffer cognitive decline by age 85. - How old is your adviser? - Gas prices are highest in 7-years - Robinhood's IPO filing - How do I know how much risk I should take?

Today's F-bomb discusses the following: -Artificially boosting wages leads to unintended consequences -NBA players and NFL QBs make a lot of money because there is low supply and high demand -$15/hour minimum wage puts more people out of work -Can yield be increased without additional risk? -Psalm 82:3 -John Piper says give until you "feel it" -Who has benefited most during the pandemic -Charlie Ellis on what it takes to be a good investor -The amount needed to retire well in today's world -The best way to purchase an automobile in a seller's market Sources: Nora Naughton, Orla McAphry - WSJ, JD Power, Michael Batnick, The Daily Wire - Ben Shapiro, The Long View, Morningstar

Today's F-Bomb discusses the following: - Family debates - Reducing taxes through retirement plans (employee and employer options) - Roth vs Traditional - Luke 9:23 - A statistical dive into the financial state of Americans - Does debt in some cases make sense? Sources: Wall Street Journal, Nerd Wallet, Wealthy Nickel, The Long View Podcast, The Standard Deduction Podcast, Morningstar.com

Today's F-Bomb discusses the following: Unless you are homeless, you need a roof over your head. That's what makes housing a different animal than other wealth creating assets Suze Orman with another bizarre "crystal ball" assessment The fundamental reason for housing prices skyrocketing Apple is now larger than all but 5 countries by market cap Isaiah 55:8-9 Will rates stay low for decades Are dividend funds the answer for producing reliable income in retirement Child Tax Credit explained and who qualifies How financial advisers get paid "Frankenstein Firms" are filling up the wealth management space Sources: The Wall Street Journal, Ben Carlson, Morningstar, Animal Spirits Podcast, The Ric Edelman Show, Peter Mallouk, CNBC.com

Today's F-Bomb discusses: -Numerous choices don't always lead to better decisions and/or better peace around those decisions. -401k plan participation suffers in direct correlation to complexity of fund choices. -To win with gold, historically it comes down to trading it at the right time over short intervals. Buy and hold has lost to both stocks and bonds over the long-haul -Tax implications of selling a primary residence -Be encouragers of one another -Why we may be doing better than we think we are at saving for retirement -A widow's social security mistake -The difference between transitory and "real" inflation -Why you may still want to allocate a bit to bonds in an inflationary environment Sources: Investopedia, AARP.org, Morningstar's The Long View, Down the Middle Podcast, Andrew Biggs, Deutsche Bank

Today's F-Bomb discusses the following: - Hailing an Uber or Lyft is still damn near impossible - Kids sticker charts actually work - Biden's intention of adding 13T to our national debt the next decade - Romans 7:15, 18b,19 - If inflation arrives, hedge it with a 30-year fixed rate mortgage - Lump sum rollover vs systematic pension payment considerations - The death of cold calling has arrived - How to beneficiary accounts while single or with minor children - Commingling ownership of assets with other generations - Jim Cramer is an entertainer, not a fiduciary Sources: Morningstar.com, Dan Ariely, The Wall Street Journal, The Daily Wire Ben Shapiro Show, The New York Times, CNBC

Today's F-Bomb discusses the following: -Dalbar Study -Suns vs Lakers - Long-term perspective - S&P incredible 10-year run - Inflation and speculating with gold - How do we see things more as God does Sources: WSJ.com, Downtown Josh Brown, Dalbar QAIB, Charles Schwab

Today's F-Bomb hits on the following: - Poker Mania - When we are right, we are still often wrong. - Recap of the 6-months following the election - Example of prospective client with almost everything in stable value, cash, and bonds - Phil. 4:6-7 Do not be anxious - Markets correct. It's normal. How often do they drop, how often do they come back? - M1 money supply has basically broken the charts. - Social security mistakes and insights

On today’s F-Bomb John discusses the following: - Rising lumber prices - Yellen says that inflation is coming - We should be performing for an “audience of one” rather than seeking man’s approval - Home prices continue to skyrocket - Crypto insanity continues to catch fire - The danger of trying to “break even” - The Big 5 do more in sales each week than McDonalds does in an entire year - 9 of the 10 past years were positive in the stock market, but 40% of the index’s stocks posted negative returns during that time period Sources: Wall Street Journal, Cheryl Riley, Abnormal Returns, Josh Brown

Today F-Bomb discusses the following: - In America we have mobility amongst classes and social standing - "The Bet" - 5-Largest Stocks in 2000 and where they are today - Proverbs 11:29 and why our "Babylon" will eventually fall - Why dividend-stock strategies are not the simple answer for persistent income - Biden's lie about who pays their fair share of taxes - Bernie Madoff is dead - How you can avoid being scammed - Tough times define us all Sources: The Wall Street Journal, Ric Edelman, Taxfoundation.org, Bloomberg, yCharts, wealthmanagement.com, money.cnn.com

Today's F-Bomb hits on the following: Awful airplane movies Biden's 10T spending plan Perspective when confronted with presidential policies you disagree with Separate your politics from your portfolio The unemployment disaster - people follow incentives Proverbs 26:11. Don't eat your vomit like your pooch does Learn from mistakes, like when our 1-year old falls in the swimming pool NFL Draft. The Bengals do "Bengaly" things like normal How to deal with higher interest rates and tax implications of secondary residences and rental properties Can you deduct insurance premiums Hospice nurse confessions Sources: The Wall Street Journal, PowerofPositivity.com, Rotten Tomatoes

Today's F-Bomb hits on the following: -Having a friend with every random tool for every random project comes up huge in a neighbor -Which states are the most financially literate? -Mass Mutual Social Security Questions social-security-quiz -8 Ways to Fight Cancer -MUD WTR was Brittany's informal way of hosting an intervention -Money is here to provide us with the highest anxiety-adjusted returns -Rental car shortages are off the charts -Biden's proposal to increase capital gains tax -Permanent life insurance is the answer on very rare occasions. However, these scenarios may become more applicable to a larger subset of the population in response to rising taxes Sources: Blair DuQuesnay, Wall Street Journal, Mass Mutual, Ric Edelman

Today's F-Bomb discusses: - If you're all-in, I'm all-in. - EBRI survey shows many retirees never spend down their investments in retirement - 1 John 1:8 says that we have all made mistakes - John's traffic violation! - Be careful on your starting and end points when analyzing investment performance - Tax loss harvesting - United Airlines should worry about hiring the best pilots...period. - How to hedge currency risk - Is this a housing bubble? Sources: Wall Street Journal, Ben Carlson, EBRI, Market Watch

Today's F-Bomb touches on the following: -CFP Board Exam changes weighting to include Psychology of Money -It's easier to do the right thing when your friends are setting that example. Proverbs 27:17 -Don't platoon QBs and don't dance between growth and value cycles. -The Argegos Capital Management collapse -What did you expect from Manziel and Winston? Sources: awealthofcommonsense.com, Wall Street Journal, Ric Edelman

Today's F-Bomb talks about how we can create quality results in our lives by taking personal responsibility for our decisions. Also included in this episode: - How the 3rd round of stimulus has a retroactive on your 2020 taxes - Striving for equal opportunity, not outcomes - Different seasons of life dictate adjustments - Come off picks like Steph Curry - In case you weren't sure, when you're broke you're stressed

Today's F-Bomb highlights the role women play in our society and the importance they have within our lives! Faith: Women have been granted a God-given capacity to love and seek to help others. Family: Brittany is the catalyst behind most of our family's progress. Finance: Everything you need to know about this last round of stimulus. Football (March Madness): Gonzaga or the field?! Sources: Ric Edelman, Deutsche Bank, Wall Street Journal

Today's F-Bomb isn't a deep dive on analytics and how WAR has changed scouting in sports, but rather a discussion around defining value in our lives and finances. Faith: You are valued in God's eyes and that we should be living for an audience of one. Family: There is no debate, Brittany is more valuable around the Hagensen household than John Football: The Greek Freak is NOT more valuable than LeBron, and never has been Finance: What are the most valuable components of our financial lives and how do we enhance those areas?

Today's F-Bomb offers 8 areas to protect when it comes to your financial plan. Faith: God is one our side. That's solid protection! Family: Good luck trying to keep your Angel Monitor from signally false alarms. Finance: John offers practical protection strategies against common financial combatants. Football: The NFL is all about player safety, and make no mistake, that's a good thing for us fans!

Today's FBomb talks about the irony behind improving a situation not by what we can add, but rather by strategically removing excess. Faith: Bad company, corrupts good character. Family: My MIL's standup paddle board debacle. Football: Pick 6's are killers. Finance: 8 things to subtract from your financial plan for an immediate boost to your progress.

Today's F-Bomb differentiates investing from gambling through practical, digestible examples. Faith: Proverbs 15:22 Family: My Cascade Lanes victory! Football: Super Bowl Analogies Finance: Investors are...prepared for the unexpected, focused on the long-term, make thoughtful and proactive adjustments, and understand the end game.

Today's F-Bomb highlights that the most dangerous risks are the ones that we don't even know exist to begin with. Football: Does anyone prepare better than Andy Reid and Tom Brady? This is a clash of two of the best when given time to get ready for a big game. Faith: Revelation...are we prepared for Christ's return? Family: I once pulled over because I wasn't sure if Cruz was still breathing. No one, and I mean no one is adequately prepared to bring a newborn home from the hospital. Finance: Melvin Capital was completely unaware of the risk that internet formation could provide relative to short-squeezes. Check out Kenny Gatliff, CFA @ On-TheMoney.com for more market insights and his most recent blog post on Gamestop specifically.

On today's F-Bomb, John talks about 5 truths surrounding financial planning and investing. - Watch your wallet more than your investment performance - Avoid "paralysis by analysis" through an automated gameplan - Change your behavior - Familiarize yourself with the basics - Choices in market downturns makes the difference - Verse of the day: John 8:31-32 - Matt Lafleur's 4th quarter field goal decision Listener Questions: - Don't mix politics and portfolios - Gamestop bonanza References: Humbledollar.com Ben Carlson's "Everything You Need to Know About Saving for Retirement"

On today's F-Bomb, John discusses 10 paradoxes of life as well as 5 investing paradoxes. References: Tom Stevenson Blog Post - July, 2019 Michael Lynch Think Advisor Blog - January, 2021

On today's F-Bomb, John discusses 12 practical lessons to pull into the New Year. Faith- Philippians 3:13 Football- A comparison of stocks and NFL teams, according to John Family- Kids hoarding food may seem strange. However, once you consider their backgrounds it isn't surprising. We all view the world through our own lens based upon our past experiences. Finance- The 12 lessons for 2021 as well as Ben Carlson's story of Bob (A Wealth of Common Sense Blog) for those wondering if investing at market peaks is a wise decision. References: Morgan Housel's "Psychology of Money".

Today's F-Bomb: John comes up with twelve random thoughts, taken from his Rethink Your Money radio show, to go along with twelve financial moves you can make at year's end that could help lower your taxes. He mixes in brief comments on his youngest children and how they relate to one of his suggestions, as well as referencing this past week's edition of Monday Night Football.