Thoughts On Money [TOM]

This week's blogpost - https://bahnsen.co/4keLRM3 In this episode of the Thoughts and Money Podcast ('Tom'), host Trevor Cummings and co-host Blaine Carver break down financial planning into three distinctive categories: surplus, steady, and sinking. They discuss how most Americans fit into these categories based on their spending and saving habits. The conversation covers the pros and cons of each financial trajectory, the psychological impacts, and the importance of understanding one's financial status for better planning. Listeners are encouraged to diagnose their financial category with their advisor and explore the risks and opportunities associated with their financial planning. The episode highlights the importance of intentional planning to turn uncertainty into clarity and confidence. 00:00 Introduction to the Podcast 00:19 Surplus, Steady, and Sinking Explained 00:51 Understanding Surplus Retirement 02:46 The Loquat Tree Analogy 04:45 Financial Planning and Surplus Retirement 11:39 Steady Retirement Insights 17:46 Spending Dividends and Interest in Retirement 18:27 The Desire for a Secure Retirement 18:52 The Challenges of a Sinking Financial Strategy 19:46 The Importance of Asset Allocation and Safety Nets 22:01 Understanding Your Financial Trajectory 25:47 Diagnosing and Treating Your Financial Health 31:06 The Role of Advisors in Financial Planning 33:54 Final Thoughts and Encouragement Links mentioned in this episode: http://thoughtsonmoney.com http://thebahnsengroup.com

This week's blogpost - https://bahnsen.co/3YWQUs6 The Case for Dividend Growth: Insights from the Thoughts and Money Podcast In this episode of the Thoughts and Money Podcast, host Trevor Cummings and colleague Blaine Carver delve into the subject of dividend growth investing. They discuss common questions from clients about why more people don't adopt dividend growth strategies and how these strategies differ from others touted as the best. Trevor shares his personal journey of becoming a dividend growth advocate, emphasizing the importance of 'eating your own cooking'—investing in the same strategies recommended to clients. They highlight the benefits of dividend growth, including its potential for stable and increasing cash flow, its built-in mechanism for value investing, and its appeal to financial planners aiming to mitigate sequence of returns risk for retirees. The episode also addresses the psychological shift needed to focus on income rather than stock prices and concludes with anecdotes affirming the real-world application and success of dividend growth investing. 00:00 Welcome to the Thoughts and Money Podcast 00:16 Travel Tales and Client Interactions 00:43 Why Dividend Growth? 02:37 The Importance of Eating Your Own Cooking 03:10 Lack of Dividend Growth Advocates 05:54 Dividend Growth: An Evergreen Strategy 06:47 Dividend Growth and Personal Responsibility 12:21 The Significance of Stock Price 21:10 Dividend Growth: A Financial Planner's Dream 27:03 Psychological and Mathematical Advantages of Dividend Growth 35:52 Final Thoughts and Listener Engagement Links mentioned in this episode: http://thoughtsonmoney.com http://thebahnsengroup.com

This week's blogpost - https://bahnsen.co/4jqFLrZ Thriving Amid Market Volatility: Insights and Strategies In this episode of the Thoughts and Money Podcast (Tom), host Trevor Cummings and guest Blaine Carver discuss strategies for navigating challenging market conditions. They reflect on the importance of empathy, encouragement, and truth in guiding clients through market downturns. Trevor recounts his recent trip to Dallas amidst stormy weather and both delve into the impacts of high-frequency trading and headline-induced anxiety. They emphasize the significance of staying invested despite fluctuations and stress the necessity of maintaining a strong advisor-client relationship to foster resilience and informed decision-making during volatile times. The episode concludes with advice on reaching out to advisors for support and open communication. 00:00 Welcome to the Thoughts and Money Podcast 00:17 Travel Tales and Lightning Adventures 01:20 Surviving These Markets: An Overview 04:45 Empathy: The First Tool in Your Toolkit 11:03 Encouragement: The Power of Positive Reinforcement 14:04 Truth: The Hard Facts About Market Timing 22:31 Final Thoughts and Encouragement to Connect Links mentioned in this episode: http://thoughtsonmoney.com http://thebahnsengroup.com

This week's blogpost - https://bahnsen.co/4lCcyvy The Stages of Retirement: Strategies for Go-Go, Slow-Go, and No-Go Years In this episode of the Thoughts on Money Podcast, host Trevor Cummings and guest Blaine Carver discuss financial planning for retirement, breaking it down into the 'go-go,' 'slow-go,' and 'no-go' years. They explore how spending patterns and needs change throughout each phase and stress the importance of flexibility in financial planning. Topics covered include the spending smile, asset allocation, social security strategies, and the significance of tax optimization. The episode emphasizes personalized planning and the relevance of continual reassessment to adapt to evolving needs and circumstances. 00:00 Welcome to the Thoughts on Money Podcast 00:14 Blaine's Hiking Adventures and Retirement Phases 02:42 The Go-Go, Slow-Go, and No-Go Years of Retirement 03:49 Financial Planning: Beyond the Paperweight Plans 07:36 The Spending Smile and Its Implications 13:01 Tax Strategies and Portfolio Withdrawals 16:22 Diversifying Retirement Accounts 17:19 Understanding the Logo Years 18:42 Long-Term Care and Charitable Planning 20:22 Navigating the No-Go Years 23:03 Simplifying Estate Planning 26:46 Final Thoughts and Listener Engagement Links mentioned in this episode: http://thoughtsonmoney.com http://thebahnsengroup.com

This week's blogpost - https://bahnsen.co/4l9W0e1 The Power of Simplicity in Financial Planning In this episode of the Thoughts on Money Podcast, hosts Trevor Cummings and Blaine Carver discuss the principle of keeping financial strategies simple, centered around the concept of Occam's Razor. They contrast this with the overly complex methods similar to Rube Goldberg's inventions and stress the importance of embracing simplicity in investing. Key areas covered include the problems with market timing, the benefits of dividend growth investing, the importance of understanding one's investment strategy, and the necessity of perseverance in the markets. The hosts further emphasize avoiding unnecessary complexity and limiting mistakes to achieve long-term financial success. 00:00 Welcome to the Thoughts on Money Podcast 00:37 Occam's Razor and Financial Planning 02:17 Rube Goldberg vs. Occam's Razor in Investing 04:07 The Pitfalls of Market Timing 05:55 The Frogger Approach to Investing 09:06 Embracing Risk Like Happy Gilmore 12:19 Limiting Mistakes in Investing 19:59 The Superpower of Perseverance 23:30 Keep It Simple, Stupid (KISS) 26:42 Closing Thoughts and Listener Engagement Links mentioned in this episode: http://thoughtsonmoney.com http://thebahnsengroup.com

This week's blogpost - https://bahnsen.co/4hTqXjQ Practical Financial Advice: Preparing Your Heirs for Wealth In this episode of the Thoughts on Money Podcast, hosts Trevor Cummings and Blaine Carver discuss the importance of practical application in personal finance. They emphasize the difference between theoretical finance and practical advice, particularly when it comes to managing windfalls and preparing heirs for inheritance. Using examples like the Parable of the Prodigal Son and real-life cases of lottery winners and athletes, Trevor and Blaine highlight the dangers of unmanaged windfalls. They delve into practical strategies for gifting and educating heirs, including annual gifts, direct payments for education and medical expenses, and the importance of financial education and experience. They also stress the need for clear communication and setting expectations when passing on wealth. 00:00 Introduction and Greetings 00:24 The Importance of Practical Application in Finance 02:03 The Parable of the Prodigal Son and Financial Wisdom 04:21 Windfalls and Financial Preparedness 05:59 Practical Advice for Preparing Heirs 08:12 Lessons from Personal Financial Mistakes 13:41 Gifting and Estate Planning Strategies 16:06 Shaq's Wealth Advice and Giving Now 16:39 The Power of Financial Education 17:23 Direct Giving Strategies 20:06 Introducing Kids to Financial Advisors 24:05 Setting Expectations for Financial Gifts 26:28 Trevor's Personal Story and Final Thoughts Links mentioned in this episode: http://thoughtsonmoney.com http://thebahnsengroup.com

This week's blogpost - https://bahnsen.co/41LZ33h Mind the Gap: Navigating Investor Psychology and Financial Planning In this episode of the 'Thoughts of Money' podcast, host Trevor Cummings is joined by Blaine Carver to discuss the concept of 'Mind the Gap' in financial planning. They explore how understanding the gap between asset growth and expenses is crucial for long-term financial health. The conversation covers the importance of withdrawal rates, the limitations of traditional financial advice, and the benefits of expense-based planning. The hosts also emphasize the need for safety nets and a well-diversified portfolio to mitigate risks and ensure sustainable growth over time. 00:00 Introduction and Host Banter 00:58 Mind the Gap: Understanding Investor Psychology 05:05 The Importance of Withdrawal Rates 11:23 Expense-Based Planning vs. Traditional Financial Planning 22:52 Behavioral Risks in Retirement Planning 24:27 Conclusion and Listener Engagement Links mentioned in this episode: http://thoughtsonmoney.com http://thebahnsengroup.com

This week's blogpost - https://bahnsen.co/4iNZBwe Taking Inventory of Your Cash: Balancing Security and Growth In this episode of the Thoughts on Money (TOM) podcast, host Trevor Cummings delves into the concept of taking inventory of your cash. Discussing the 'squirrel principle' and the psychology behind holding large amounts of cash, Trevor explores the pros and cons of cash in managing near-term and emergency expenses versus its long-term disadvantages in the fight against inflation. He offers practical advice on creating a layered strategy for cash allocation, balancing immediate liquidity, and long-term financial security. Listeners are encouraged to evaluate their own cash holdings and investment strategies to achieve a balanced, strategic approach to financial planning. 00:00 Welcome to the Thoughts on Money Podcast 01:34 The Squirrel Principle and Cash Hoarding 03:04 The Benefits and Drawbacks of Holding Cash 06:59 Strategizing Your Cash Allocation 09:30 Building a Multi-Layered Safety Net 12:57 The Long-Term Impact of Cash Surplus 16:58 Practical Steps to Assess Your Cash 18:29 Conclusion and Listener Engagement Links mentioned in this episode: http://thoughtsonmoney.com http://thebahnsengroup.com

This week's blogpost - https://bahnsen.co/4iaAOD0 Financial Wisdom, Tools, and Advice: Answering Your Questions In this episode of the Thoughts on Money (TOM) podcast, host Trevor Cummings, joined by guest Darren Lightfoot, wraps up the mini-series on answering listener questions. They dive deep into topics like financial book recommendations for youth, the importance of behavioral finance foundations from sources like Proverbs and modern literature, and share their most crucial pieces of financial advice for young people. They also discuss budgeting tools and the importance of tracking spending for financial awareness, mentioning various tools and personal strategies. The podcast concludes with some light-hearted banter about the Denver Broncos and an invitation for listeners to stay engaged and keep the financial questions coming. 00:00 Welcome to the Thoughts on Money Podcast 00:24 Introducing the Guest Host: Darren Lightfoot 01:01 The Importance of Asking Questions 02:12 Recommended Books for Financial Wisdom 08:12 The Challenge of Budgeting and Financial Awareness 14:24 Practical Financial Advice for Young People 18:31 Effective Tools for Tracking Finances 23:33 Closing Remarks and Future Plans Links mentioned in this episode: http://thoughtsonmoney.com http://thebahnsengroup.com

This week's blogpost - https://bahnsen.co/3XjyQYt Exploring Taxes and Principal Withdrawal in Retirement: Listener Questions Answered In this episode of the Thoughts of Money podcast, hosts Trevor Cummings and Blaine Carver delve into listener questions about managing taxes and withdrawing principal in retirement. The discussion touches on common tax misconceptions, the impact of interest rates on tax bills, and strategies for achieving tax efficiency. They also explore the psychological and practical considerations of withdrawing dividends and interest versus dipping into principal, urging listeners to balance financial prudence with enjoying life. The hosts emphasize the importance of financial planning and professional guidance to navigate these crucial aspects of retirement strategy. 00:00 Introduction and Host Welcome 00:12 Continuing the Miniseries 00:26 The Importance of Questions 02:08 Client Questions: Taxes and Distributions 02:39 Understanding Taxes and Tax Efficiency 09:29 Asset Allocation and Location 15:08 Withdrawing from Principal vs. Dividends and Interest 17:45 Encouraging Clients to Enjoy Their Wealth 24:27 Conclusion and Contact Information Links mentioned in this episode: http://thoughtsonmoney.com http://thebahnsengroup.com

This week's blogpost - https://bahnsen.co/3QACWaF Thoughts on Money: The Benefits of Giving and Investment Strategies In this episode of the Thoughts on Money podcast, Trevor Cummings and co-host Blaine delve into several thought-provoking financial topics. They discuss the advantages of giving wealth during one's lifetime versus bequeathing it after death, highlighting both qualitative and quantitative benefits. The hosts also explore the current trend of investing in U.S. Treasury bills instead of the stock market, offering insights into why it might not always be a sound strategy. Lastly, they tackle the common question, 'Did I beat the market?' and emphasize the importance of adhering to a well-thought-out investment philosophy over constantly comparing returns. The episode encourages listeners to ask deeper questions about their financial goals and strategies. 00:00 Introduction and Welcome 00:18 Travel Woes and Tiredness 01:17 Q&A: The Most Engaging Part 03:27 The Four Uses of Money 04:57 Transcendent Wealth and Giving 13:28 Strategic Gifting and Estate Planning 16:52 Treasuries vs. Stock Market 26:01 Beating the Market: Does It Matter? 31:51 Conclusion and Next Week's Preview Links mentioned in this episode: http://thoughtsonmoney.com http://thebahnsengroup.com

This week's blogpost - https://bahnsen.co/3Qk01hU Answering Your Financial Questions: Annuities, Social Security, and Roth vs. Traditional IRAs In this episode of the Thoughts on Money Podcast, Trevor Cummings and Blaine Carver discuss various financial topics including annuities, the best time to claim Social Security benefits, and whether to fund a Roth or traditional IRA. Trevor emphasizes the importance of identifying the risks annuities mitigate, such as longevity and emotional risk. They delve into the breakeven points for claiming Social Security and the preference of positive cash flow in retirement. The conversation also simplifies the Roth vs. traditional IRA decision to whether to pay taxes now or later, carefully considering both current and future tax brackets. The episode kicks off a mini-series focused on answering common financial questions collected from clients. Tune in for practical insights and actionable advice. 00:00 Welcome to the Thoughts on Money Podcast 00:07 Weather Talk and Personal Anecdotes 01:10 Introducing the Q&A Mini-Series 01:30 The Value of Q&A Sessions 02:03 Trevor's College Experience and Teaching Style 04:42 Client Questions: Annuities Explained 07:53 Understanding Insurance and Risk 20:09 Client Questions: Social Security Strategies 28:54 Client Questions: Roth vs. Traditional IRAs 37:40 Wrapping Up and Looking Ahead Links mentioned in this episode: http://thoughtsonmoney.com http://thebahnsengroup.com

This week's blogpost - https://bahnsen.co/40Ph7J9 Bonds Explained: Understanding Their Role and Importance in Investment Portfolios In this episode of the Thoughts on Money podcast, host Trevor Cummings is joined by guest and colleague Blaine Carver. They discuss bonds, distinguishing between stocks and bonds, and explaining the foundational concepts of owning and loaning money. The conversation delves into government bonds, interest rates, and their impact on personal finance. Blaine articulates the historical and economic contexts influencing bond prices, particularly during recent years, and differentiates between 'boring bonds' and 'credit.' They discuss the critical role bonds play in diversified investment portfolios, especially for income generation and risk mitigation, and explain why investors should not abandon bonds based on recent performance alone. The episode is framed around an analogy featuring a memorable NBA game to illustrate how different assets contribute to a balanced and effective investment strategy. 00:00 Introduction and Greetings 00:51 Understanding Bonds: A Basic Overview 03:39 The Role of Bonds in Personal Finance 05:42 Interest Rates and Their Impact on Bonds 09:45 Bonds vs. Stocks: A Comparative Analysis 11:57 Historical Performance and Future Expectations 20:37 Different Types of Bonds 25:41 The Importance of Diversification 29:45 Final Thoughts and Listener Engagement Links mentioned in this episode: http://thoughtsonmoney.com http://thebahnsengroup.com

This week's blogpost - https://bahnsen.co/3Ekku3k Guiding Financial Futures with Purpose: A Conversation with Josh Klooz In this episode of the Thoughts on Money (TOM) Podcast, hosted by Trevor Cummings, special guest Josh Klooz shares his journey from serving in the military to entering the finance industry, emphasizing the importance of trust and personal connection in financial advising. They discuss the pitfalls of marketing in the financial industry, the necessity of caring for clients beyond temporary fixes, and the ongoing pursuit to enhance service offerings at The Bahnsen Group. They touch on topics like the emotional impact of missing family moments during military service, the complexities of financial planning, and the importance of a holistic approach that includes tax and estate planning. The conversation provides valuable insights for both existing and prospective clients on finding an advisor who truly cares and can help fulfill their financial purposes. 00:00 Welcome to the Thoughts on Money Podcast 00:45 Introducing Josh Clues and His Background 03:11 From Military Service to Financial Industry 04:36 Critique of the Financial Industry 17:19 The Importance of Trust and Competency in Financial Advisors 24:55 Aligning Financial Resources with Life Purpose 28:04 Closing Remarks and Contact Information Links mentioned in this episode: http://thoughtsonmoney.com http://thebahnsengroup.com

This week's blogpost - https://bahnsen.co/3DZvaUY Preparing for Unexpected Disasters: Financial Planning Essentials In this episode of the Thoughts on Money podcast, host Trevor Cummings is joined by Sean Latimer to discuss the importance of financial preparedness in the wake of natural disasters, specifically focusing on the recent devastating fires in Southern California. They share personal experiences, emphasize the importance of thorough insurance reviews, maintaining an inventory of home items, and creating a comprehensive 'financial go-bag.' They also offer actionable advice on ensuring adequate replacement costs and properly documenting valuables to aid in insurance claims. The episode underscores the balance between preparation and maintaining hope for the future. 00:00 Introduction and Welcome 00:21 Current Events: California Fires 02:18 Importance of Property and Casualty Insurance 02:57 Actionable Steps for Insurance Review 07:04 Real-Life Examples and Advice 12:49 Financial Planning Go Bag 16:41 Conclusion and Final Thoughts Links mentioned in this episode: http://thoughtsonmoney.com http://thebahnsengroup.com

This week's blogpost - https://bahnsen.co/40dvKFY Consolidation Over Resolutions: Simplifying Your Finances for a Healthier Financial Future In this New Year episode of the Thoughts on Money (TOM) podcast, host Trevor and guest Blaine Carver discuss the pitfalls of multiple financial accounts and the importance of consolidation. Through personal anecdotes and practical insights, they highlight the challenges of managing numerous banking relationships, the complications for estate planning, and the inefficiencies in financial tracking. They also touch upon the impact of sports rule changes, making metaphors to illustrate their points about financial tidiness. The episode emphasizes practical, actionable advice for simplifying one's financial life to avoid unnecessary complexity and future headaches. Listeners are encouraged to reflect on their own financial arrangements and consider consolidating accounts to improve overall financial health. 00:00 Welcome to the Thoughts of Money Podcast 00:10 New Year's Resolutions and Rule of Life 00:34 Sports and Points of Emphasis 02:32 Simplifying Finance: Practical Wisdom 05:26 The Importance of Consolidation 13:42 Pitfalls of Having Too Many Accounts 18:50 Next Steps and Practical Tips 22:27 Listener Feedback and Closing Remarks Links mentioned in this episode: http://thoughtsonmoney.com http://thebahnsengroup.com

This week's blogpost - https://bahnsen.co/41GZwW0 The Heart of Financial Advice: Insider Insights from the Thoughts on Money Podcast In this episode of the Thoughts on Money podcast, host Trevor Cummings is joined by Blaine Carver, author of the Thoughts on Money blog. They reflect on the year 2024 and discuss Blaine's recent article, 'The Heart of Financial Advice.' The conversation delves into their personal journeys in the financial advice industry and the evolution of their roles from analysts to advisors emphasizing human psychology in financial planning. They also highlight the importance of patience in financial decisions, the evolving nature of financial advice, and the unique experience and value that financial advisors bring to their clients. Additionally, Blaine shares some exciting personal news about expecting his fourth child. The episode concludes with expressions of gratitude for being part of clients' financial journeys and a holiday message to the listeners. 00:00 Welcome to the Thoughts on Money Podcast 00:14 The Heart of Financial Advice 00:31 The Role of a Financial Advisor 05:07 Personal Journey into Financial Advising 07:33 Early Influences and Career Beginnings 15:16 Building Client Relationships 17:04 Client Experiences with Financial Planning 18:06 Advising the Next Generation 18:56 The Value of a Dedicated Advisor 21:03 Navigating Market Volatility 26:39 The Ever-Evolving Financial Landscape 28:45 Personal Stories and Final Thoughts Links mentioned in this episode: http://thoughtsonmoney.com http://thebahnsengroup.com

This week's blogpost - https://bahnsen.co/3ZA5XY7 Setting Realistic Expectations in an Exceptional Market Year In this episode of the Thoughts on Money (TOM) podcast, host Trevor Cummings discusses financial expectations with his guest, Blaine Carver. They reflect on memorable personal experiences from sports events and how these relate to setting realistic expectations in investing. They emphasize the importance of understanding average returns, the atypical nature of recent market performance, and the necessity of calibrating expectations to avoid disappointment. They also stress the value of long-term investment strategies and prudent financial planning, touching upon the potential for mean reversion in markets. The episode is a rich blend of practical advice, market insights, and thoughtful anecdotes. 00:00 Welcome to the Thoughts on Money Podcast 00:32 Dodgers Game Adventure 02:14 Hockey Game Experience 03:25 Setting Realistic Investment Expectations 05:46 Understanding Market Performance 09:15 The Importance of Financial Planning 13:18 The Power of Compounding and Long-Term Investing 27:22 Closing Remarks and Holiday Wishes Links mentioned in this episode: http://thoughtsonmoney.com http://thebahnsengroup.com

This week's blogpost - End-of-Year Financial Planning with Special Guest Darren Lightfoot In this episode of the Thoughts on Money Podcast, host Trevor Cummings welcomes special guest Darren Lightfoot to discuss end-of-year financial planning. The episode covers a range of practical topics including creating a checklist for year-end, the importance of making contributions, distributions, and donations before the year closes, and strategies for tax-efficient giving. Darren shares his personal experiences and insights from his transition from operations to the planning team at The Bahnsen Group. The conversation also delves into the importance of tracking expenses, earmarking funds for upcoming large purchases, and planning for taxes. This episode is filled with actionable advice to help listeners prepare for the financial year's end. 00:00 Welcome to the Thoughts on Money Podcast 00:03 Meet Our Special Guest: Darren Lightfoot 00:55 The Importance of Year-End Checklists 01:17 Packing Woes and Family Dynamics 03:13 End-of-Year Financial Planning Tips 05:13 Tax-Efficient Charitable Giving 08:42 Understanding Contributions and Distributions 14:53 Gifting Strategies for Family Members 19:04 Tracking Expenses and Market Insights 25:21 Final Thoughts and Tax Considerations 26:42 Closing Remarks and Listener Engagement Links mentioned in this episode: http://thoughtsonmoney.com http://thebahnsengroup.com

This week's blogpost - https://bahnsen.co/4i45vK6 Strategic Moves for a High Valuation Market In this episode of the Thoughts on Money Podcast, host Trevor Cummings joins colleagues Sean Latimer and Sean Ullrich to discuss the implications of future stock market returns predicted by a Goldman Sachs article. They revisit the topic to offer actionable advice for clients concerned about high market valuations. Key points include the importance of understanding valuations, the risks of market timing, and practical strategies like deleveraging, raising cash for future expenses, averaging new investments, and rebalancing portfolios. They also explore the concept of winterizing your portfolio as a precaution against inevitable market volatility, using both practical and cultural anecdotes to illustrate their points. 00:00 Introduction and Hosts Introduction 00:22 Discussing Future Stock Market Returns 01:18 Valuations and Market Timing 03:32 Strategic and Tactical Financial Planning 04:05 Movie Analogy: Lessons from 'Taken' 08:47 Actionable Financial Advice 26:54 Cultural Indicators and Market Sentiment 33:18 Winterizing Your Portfolio 34:28 Conclusion and Holiday Wishes Links mentioned in this episode: http://thoughtsonmoney.com http://thebahnsengroup.com

This week's blogpost - https://bahnsen.co/3UT2L8u The Secret to Financial Serenity: Confidence and Strategy Join Trevor Cummings and today's author Blaine Carver as they explore the core elements of financial confidence in this engaging episode of 'Thoughts on Money.' They discuss Blaine's latest blog article, 'The Secret to Financial Serenity,' delving into the psychology of money, the importance of financial planning, and how to manage investments. They share personal anecdotes, including Trevor's experience with his son's first steps and the impact of childhood on financial attitudes. The podcast also addresses key questions like ensuring financial stability, understanding investment strategies, and aligning wealth with personal values. Don't miss this insightful conversation aimed at helping you achieve true financial confidence! 00:00 Introduction and Welcome 00:23 Introducing the Article: The Secret to Financial Serenity 00:44 Trevor's Role and Leadership at PWAG 02:40 Personal Stories and Financial Confidence 05:52 The Core Issue: Financial Security 09:30 Four Key Financial Questions 10:26 Question 1: Am I Going to Be Okay? 15:31 Question 2: Am I Invested in the Right Stuff? 19:41 Question 3: Am I Stewarding My Wealth Properly? 24:19 Question 4: How Do All the Pieces Fit Together? 30:05 Conclusion and Final Thoughts 32:13 Disclaimer and Legal Information Links mentioned in this episode: http://thoughtsonmoney.com http://thebahnsengroup.com

This week's blogpost - https://bahnsen.co/3CgKBaB Saving on Taxes: The Power and Pitfalls of Roth Conversions In this episode of the Thoughts on Money (TOM) podcast, host Trevor Cummings and guest Blaine Carver dive into strategies for saving on taxes, focusing particularly on Roth conversions. They discuss the often misunderstood benefits of converting retirement accounts into Roth IRAs, where taxes are paid upfront but future growth is tax-free. The episode explores the historical shift from pensions to 401(k) plans, the nuances of tax planning, and the concept of 'tax diversification.' Through personal anecdotes and detailed explanations, the hosts explain why and how Roth conversions can be a significant tax-saving strategy, especially during certain 'gap years' between retirement and required minimum distributions. The episode also touches on the importance of personalized financial advice and the impacts of taxes on long-term financial planning. 00:00 Introduction to the Podcast 00:29 The Importance of Roth Conversions 01:32 Personal Anecdotes and Misunderstandings 03:49 Historical Context of Retirement Plans 06:08 Detailed Explanation of Roth Conversions 09:53 Tax Implications and Strategies 18:31 Estate Planning and Roth Conversions 25:10 Final Thoughts and Recommendations 29:26 Conclusion and Disclaimer Links mentioned in this episode: http://thoughtsonmoney.com http://thebahnsengroup.com

This week's blogpost - https://bahnsen.co/4f8lpS0 Predicting the Next Decade's Market Returns: An In-Depth Analysis In this episode of the Thoughts on Money (TOM) podcast, host Trevor Cummings, along with Blaine and Sean, delve into the topic of future market returns, discussing insights from a recent Goldman Sachs research paper predicting stock market returns of around 3% annually over the next 10 years. The discussion covers the implications of high valuations, potential economic catalysts, and diverging opinions within the finance community. The hosts also explore the importance of diversification and dividends as key strategies for navigating uncertain market conditions. Through an engaging conversation, they provide listeners with actionable advice on how to build a resilient investment portfolio. 00:00 Introduction to the Podcast 00:51 Goldman Sachs' Provocative Prediction 02:43 Debating the Future of Market Returns 04:32 Understanding Valuations and Catalysts 08:27 The Role of Dividends and Diversification 12:31 Value Investing Insights 17:28 Inflation and Real Returns 22:44 Concluding Thoughts and Advice Links mentioned in this episode: http://thoughtsonmoney.com http://thebahnsengroup.com

This week's blogpost - https://bahnsen.co/3NrWc90 Transforming Financial Mindsets: From Planning to Legacy In this multifaceted episode of the 'Thoughts on Money' podcast, hosts Trevor Cummings and Blaine Carver delve into various aspects of financial decision-making and planning. They discuss Trevor's blog article 'Can You Afford It?' and debate the merits of financial stretching in contexts like real estate and insurance, taking into account different life stages. The conversation reframes the question 'Can I afford it?' to 'Should I afford it?' and explores the saver-spender paradigm. The hosts introduce 'dreamstorming' to encourage the inclusion of personal aspirations in financial planning and emphasize the importance of executing these plans. Using analogies and real-life examples, they highlight the rewarding nature of giving and effective estate planning. Additionally, the dynamic nature of financial planning is discussed, along with the importance of adaptability, inviting listener interaction and feedback. The episode underscores the role of financial advisors in helping clients navigate their financial journeys with clarity and confidence. 00:00 Introduction and Greetings 00:38 Discussing the Article: Can You Afford It? 01:28 Real Estate Advice and Personal Experiences 04:53 Term Life Insurance Insights 08:28 Financial Frameworks and Personal Finance 13:55 Transitioning from Saver to Spender 16:50 Brainstorming Financial Goals 17:45 Dream Big: The 10-Star Experience 18:48 Prioritizing and Planning 19:24 Legacy and Intentional Spending 21:08 The Role of Financial Advisors 22:00 Balancing Saving and Spending 25:53 The Importance of Giving 31:42 Final Thoughts and Encouragement Links mentioned in this episode: http://thoughtsonmoney.com http://thebahnsengroup.com

This week's blogpost - https://bahnsen.co/4h3n4cK Navigating Half Truths in Finance and Life In this episode of the Thoughts on Money Podcast, host Trevor Cummings, along with co-host Sean Latimer, discusses the complexities of handling half truths in financial decisions and personal life. The conversation navigates through the challenges Trevor faced preparing sermons, particularly on the tough topic of unforgiveness, drawing parallels to financial advisory. They explore how misleading half truths can be detrimental, especially concerning investment terminologies like 'growth' and 'value' stocks, and the common misperceptions regarding political impacts on markets. The hosts emphasize the importance of understanding the full truth to avoid emotional and financial pitfalls, particularly in light of current election anxieties and misguided investment strategies. They encourage listeners to seek wisdom, question their beliefs, and to reach out for guidance. 00:00 Welcome to the Thoughts on Money Podcast 00:23 The Stress of Public Speaking 01:38 The Burden of Unforgiveness 02:45 Half-Truths and Their Impact 04:24 Investment Misconceptions 06:16 The Reality of Growth Stocks 08:40 Capital Allocation Decisions 14:22 Election Anxiety and Market Predictions 16:05 Navigating Emotional Investment Decisions 16:49 The Impact of Political News on Financial Choices 18:28 Unpacking Investment Strategies and Risks 20:27 The Role of Advisors in Financial Planning 23:50 Understanding Fees and Performance in Investments 26:40 Balancing Taxes and Investment Decisions 28:01 The Importance of Trust and Context in Financial Advice 32:03 Concluding Thoughts and Listener Engagement Links mentioned in this episode: http://thoughtsonmoney.com http://thebahnsengroup.com

This week's blogpost - https://bahnsen.co/4ePs5nr Reprogramming Financial Mindsets: From Earning to Spending This episode of the 'Thoughts on Money' podcast features Blaine Carver, Sean Latimer, and Trevor discussing the need to reprogram financial mindsets, particularly as one transitions from earning a steady income to spending in retirement. The conversation highlights common misconceptions, such as the belief in maintaining lifelong spending habits, the influence of personal anecdotes related to sports, and the challenges faced in advising clients to spend more versus saving excessively. The hosts discuss creating robust financial plans that go beyond basic rules of thumb, managing retirement anxiety, and transitioning from savings to income production. They stress the importance of understanding the distinction between needs and surplus in financial planning, preparing for life's variability, and establishing a sustainable spending rhythm that ensures money outlasts one's lifetime. The episode concludes with practical solutions for converting investments into a reliable income stream during retirement. 00:00 Welcome to the Thoughts on Money Podcast 00:20 Reprogramming Your Mindset 00:40 Personal Stories and Analogies 06:25 Transitioning to Retirement 07:54 Financial Planning and Spending Strategies 23:04 The What-If Trap and Probabilities 26:27 Converting Assets to Income 29:23 Wrapping Up and Contact Information Links mentioned in this episode: http://thoughtsonmoney.com http://thebahnsengroup.com

This week's blogpost - https://bahnsen.co/4gJS8OT Navigating Big Decisions: Frameworks for Financial Planning In this episode of the Thoughts on Money podcast, host Trevor Cummings, along with Sean Latimer and Blaine Carver, discusses strategies for tackling big life decisions and financial planning. They explore the concept of breaking down overwhelming tasks into manageable steps, using a humorous anecdote about choosing schools for their children and buying a conversion van. The conversation delves into the importance of having a decision-making framework, the paradox of choice, and the key pillars of selecting a financial advisor—advice, custodian, strategy, and plan. They emphasize the significance of long-term relationships, likability, trustworthiness, and the balance between personal rapport and measurable financial benefits. 00:00 Welcome to the Thoughts on Money Podcast 00:21 The Elephant in the Room: Tackling Big Decisions 00:49 School Choices: Private vs. Public 03:05 The Paradox of Choice 06:20 Choosing the Right Financial Advisor 14:17 The Importance of Custodians in Financial Planning 19:01 Cybersecurity and Custodian Competition 19:52 Challenges with Smaller Custodians 21:41 Choosing the Right Financial Advisor 22:03 Understanding Investment Strategies 26:08 The Importance of Financial Planning 36:27 Balancing Rapport and Substance in Client Meetings 37:46 Conclusion and Contact Information Links mentioned in this episode: http://thoughtsonmoney.com http://thebahnsengroup.com

This week's blogpost - https://bahnsen.co/3Xw16Gr Navigating Financial Media Hype and Sensationalism In this episode of the Thoughts on Money (TOM) podcast, host Trevor Cummings, along with Sean Latimer and Blaine Carver, delve into the impact of sensationalism in financial media. They discuss a particular article titled 'You've Got to be Kidding Me,' examining why sensational headlines attract more reader engagement. The conversation covers topics such as market volatility, the unpredictability of stock movements, and the dangers of reacting to short-term market trends. They also emphasize the importance of long-term investing, the psychological traps investors can fall into, and the role of an investment advisor. The episode wraps up with humorous anecdotes and reflections on disciplined investment strategies. 00:00 Welcome to the Thoughts on Money Podcast 00:16 The Most Popular Article 01:52 Sensationalism in Financial Media 03:47 Market Reactions and Investor Behavior 06:24 The Role of the Fed and Social Media 09:25 Investment Strategies and Market Trends 16:22 Evaluating Financial Advisors: Key Qualities to Look For 17:01 The Importance of Low Turnover and Long-Term Investments 18:09 Understanding the Omikase Approach in Financial Advising 19:39 The Pitfalls of Style Box Investing 21:34 Finding Your Edge as an Investor 22:45 The Power of Optimism in Long-Term Investing 28:09 Avoiding Big Mistakes in Financial Planning 30:49 Final Thoughts and Listener Engagement Links mentioned in this episode: http://thoughtsonmoney.com http://thebahnsengroup.com

This week's blogpost - https://bahnsen.co/4d9Z1FY Mastering Dollar Cost Averaging: Soccer Strategies for Smarter Investments In this episode of the Thoughts on Money Podcast, hosts Trevor Cummings and Blaine Carver discuss the importance of dollar cost averaging (DCA) as an investment strategy. Blaine shares an engaging analogy comparing DCA to soccer strategies, specifically the buildup approach and counterattack method, which helps simplify the concept for listeners. The conversation covers the benefits of DCA, addressing market volatility, and how it can help hesitant investors commit to a systematic investment process. The episode also touches on the pitfalls of market timing and the necessity for diversifying investments. 00:00 Introduction to the Podcast 00:38 Blaine Carver's Article and Soccer Analogy 08:13 Dollar Cost Averaging Explained 14:00 Lump Sum vs. Dollar Cost Averaging 18:04 Psychological Aspects of Investing 27:36 Final Thoughts and Advice 31:01 Conclusion and Contact Information Links mentioned in this episode: http://thoughtsonmoney.com http://thebahnsengroup.com

This week's blogpost - https://bahnsen.co/47bXUEB The Power of Expectations in Life, Finance, and Happiness In this episode of the Thoughts on Money (Tom) podcast, hosted by Trevor Cummings with guests Blaine Carver and Sean Latimer, the focus is on Trevor's article titled 'What to Expect When You're Expecting.' The discussion explores the impact of expectations on various aspects of life, including relationships, happiness, and investments. They delve into how expectations can shape experiences, using examples from personal anecdotes and the stock market. The conversation also touches on the importance of understanding market efficiency, emotional investment, and the distinction between investing and speculating. The episode emphasizes the critical role of managing expectations for achieving financial and personal satisfaction. 00:00 Introduction and Greetings 00:13 Discussing Expectations 03:22 The Impact of Expectations on Happiness 05:47 Expectations in Finance 07:59 Efficient Market Hypothesis 24:08 Speculation vs. Investing 26:58 Conclusion and Final Thoughts Links mentioned in this episode: http://thoughtsonmoney.com http://thebahnsengroup.com

This week's blogpost - https://bahnsen.co/3Z6Nowf Understanding the Power of Compounding and Legacy Planning In this episode of the Thoughts of Money (TOM) podcast, hosts Trevor Cummings and Blaine Carver discuss the concept of 'playing with house money' and how it relates to investing and compounding interest. They explain the importance of understanding compounding returns, providing visual analogies like a rolling basketball or snowball to illustrate the accelerating growth over time. The episode also delves into legacy planning, stressing the need for intentional decisions about how accumulated wealth will be used or passed down. Trevor and Blaine emphasize that planning for the descent—akin to planning for the drive home—is as crucial as the ascent in one's financial journey. The episode aims to educate listeners on both the qualitative and quantitative aspects of managing and planning for their wealth long-term. 00:00 Introduction to the Podcast 00:26 The Concept of Playing with House Money 00:58 Understanding Compounding Interest 01:42 Visualizing Compounding with Real-Life Analogies 04:10 The Importance of Legacy Planning 06:04 Client Conversations and Financial Prudence 07:30 The Millionaire Next Door 11:56 The Power of Compounding Over Time 15:35 Planning for the Descent: Legacy and Wealth Distribution 21:19 Final Thoughts and Call to Action Links mentioned in this episode: http://thoughtsonmoney.com http://thebahnsengroup.com

This week's blogpost - https://bahnsen.co/3MidbtW Navigating Financial Milestones: From Youth to Golden Years In this episode of the Thoughts on Money Podcast, host Trevor Cummings and guests Blaine Carver and Sean Latimer discuss Blaine's article on financial milestones. The group humorously reflects on age-specific privileges and responsibilities that influence financial decisions. Covering milestones from childhood to retirement, they delve into the importance of starting investment accounts for minors, the benefits of different savings strategies, the significance of life and disability insurance, and tax planning. They also explore Roth conversions, estate planning, and the psychological impacts of money management, offering practical insights and a few personal anecdotes along the way. 00:00 Welcome to the Thoughts on Money Podcast 00:32 Discussing Financial Milestones 02:28 Planning for Children's Future: UPMA vs. 529 06:37 Creative Uses of 529 Plans 10:55 Importance of Insurance in Early Adulthood 13:53 Building Savings Habits 18:38 Pre-Retirement Planning in Your 50s 20:36 Understanding IRA Withdrawals and Penalties 22:32 Navigating Social Security and Medicare 26:11 Tax Planning Strategies in Your 60s 30:02 Charitable Giving and Required Minimum Distributions 33:39 Estate Planning and Financial Management in Your 70s 40:50 Final Thoughts and Practical Advice Links mentioned in this episode: http://thoughtsonmoney.com http://thebahnsengroup.com

This week's blogpost - https://bahnsen.co/3M8Yj0S T-Bill and Chill vs. Market Returns: A Game Film Analysis In this episode of the Thoughts on Money Podcast, the hosts Trevor Cummings, Sean Latimer, and Blaine Carver discuss the 'T Bill and Chill' investment strategy and its opportunity costs over the past two years compared to the stock market's performance. They draw parallels between reviewing investment game film and analyzing critical decisions in NFL football, notably the Seattle Seahawks' controversial play in the 2015 Super Bowl. The hosts argue for having a structured investment framework and using financial planning to enhance investment returns while managing risk tolerance and behavioral biases. They also underscore the importance of patience and long-term strategies in achieving significant financial rewards. 00:00 Welcome to the Thoughts on Money Podcast 00:13 NFL Talk: The Infamous Seahawks vs. Patriots Super Bowl 01:01 T-Bill and Chill: A Financial Strategy Revisited 01:24 The Importance of Game Film in Investing 05:54 Analyzing the T-Bill and Chill Strategy 07:37 The Real Cost of Missing Market Upswings 10:12 Balancing Risk and Return in Financial Planning 16:08 Balancing Growth and Spending 17:18 Risk Tolerance and Financial Planning 18:07 The Role of Advisors 19:49 Investment Strategies and Market Conditions 22:16 Consistency in Investment Philosophy 23:33 Behavioral Aspects of Investing 29:26 The Importance of Patience 32:37 Final Thoughts and Listener Engagement Links mentioned in this episode: http://thoughtsonmoney.com http://thebahnsengroup.com

This week's blogpost - https://bahnsen.co/3YzxRos Personal Finance 101: Building a Strong Financial Framework In this episode of the Thoughts on Money podcast, host Trevor Cummings and co-host Blaine Carver dive into the basics of personal finance. The discussion centers around simplifying financial concepts and creating a solid framework for managing money, covering topics such as giving, saving, spending, and planning for the future. Trevor shares practical advice, anecdotes, and book recommendations to help listeners navigate their financial journeys. The episode emphasizes the importance of awareness, setting achievable goals, and considering long-term legacy planning. 00:00 Welcome to the Thoughts on Money Podcast 00:23 Back to Basics: Simplifying Personal Finance 01:58 Navigating Financial Conversations with Clients 03:15 Book Recommendations for Financial Literacy 04:50 The Importance of Giving in Personal Finance 10:13 Saving Strategies: Pay Yourself First 13:59 The Debate on Budgeting 17:23 Assigning Homework for Financial Awareness 18:08 Tracking Expenses for Long-Term Success 18:37 Freedom Within a Financial Framework 19:46 Mentoring and Practical Financial Exercises 20:55 Addressing Major Expenses First 21:56 The Importance of Financial Handoffs 23:36 Passing Down Wealth and Values 26:07 Balancing Enjoyment and Financial Prudence 32:35 Teaching Financial Principles to the Next Generation 34:09 Final Thoughts and Simple Financial Frameworks Links mentioned in this episode: http://thoughtsonmoney.com http://thebahnsengroup.com

This week's blogpost - https://bahnsen.co/46y1Y1F Cleanliness in Finances: The Secret to a Tidy Portfolio In this episode of the Thoughts on Money Podcast, hosts Trevor Cummings and Sean Latimer discuss the importance of cleanliness and organization, both in day-to-day life and financial portfolios. They share personal stories and insights on chores and parenting, discussing how these lessons apply to maintaining a clean and efficient investment strategy. The episode emphasizes avoiding 'trinkets' in portfolios, the false sense of diversification, and ensuring every investment has a purpose. Tune in for a blend of personal anecdotes and professional financial advice. 00:00 Welcome to the Thoughts on Money Podcast 00:51 Parenting Challenges and Funny Stories 09:22 The Concept of Cleanliness and Its Importance 12:22 Financial Cleanliness: Simplifying Your Portfolio 17:43 False Diversification and Common Portfolio Mistakes 21:09 The Importance of a Common Thread in Investing 26:10 Conclusion and Final Thoughts Links mentioned in this episode: http://thoughtsonmoney.com http://thebahnsengroup.com

This week's blogpost - https://bahnsen.co/3Yf7XGt Who's the Boss: Mastering Self-Control in Life and Investing In this episode of the Thoughts on Money podcast, hosted by Trevor Cummings along with Sean Latimer and Blaine Carver, the trio dives into the importance of self-control and awareness in various aspects of life, including dieting, parenting, and investing. They explore how external influences like cravings, emotions, and even hunger can impact decision-making. Drawing from personal anecdotes and references to popular culture, including Batman and the fable of Hansel and Gretel, the hosts stress the significance of having a well-thought-out plan and staying true to it, especially in the volatile stock market. The episode underscores the importance of being the 'boss' of one's actions to avoid regretful decisions. 00:00 Introduction to the Podcast 00:17 The Concept of Influence 02:56 Diet and Cravings 08:14 Parenting Challenges 12:50 Emotional Triggers and Self-Control 15:14 Legal Analogies and Financial Advice 24:13 Market Warnings and Investment Strategies 27:21 Conclusion and Final Thoughts Links mentioned in this episode: http://thoughtsonmoney.com http://thebahnsengroup.com

This week's blogpost - https://bahnsen.co/3S8texp Power of Great Teachers: Insights from the Thoughts on Money Podcast In this episode of the Thoughts on Money (Tom) podcast, hosted by Trevor Cummings, along with Sean Latimer and Blaine Carver, they explore the crucial role of great teachers in personal and financial life. The discussion centers around distinguishing great teachers from ordinary ones and stresses the importance of having influential mentors. The episode also touches on the attributes of effective teachers, such as conviction, flexibility, curiosity, and the ability to simplify complex ideas. The hosts share personal experiences and movie references to illustrate their points, emphasizing continuous learning and mentorship's vital role in achieving success. 00:00 Introduction and Host Welcome 01:00 Favorite Movies Discussion 04:42 Importance of Great Teachers 12:41 Conviction and Flexibility in Teaching 16:30 Insatiable Curiosity in Learning 17:41 The Power of Curiosity 18:13 Learning from Others 18:52 Curiosity in Practice 19:43 Foundations and Flexibility 21:57 Clarity and Simplicity 28:02 Teaching and Mentorship 31:58 Final Thoughts and Encouragement Links mentioned in this episode: http://thoughtsonmoney.com http://thebahnsengroup.com

This week's blogpost - https://bahnsen.co/4eTRm0N Discussing Financial Independence and the FIRE Movement In this episode of the Thoughts on Money (TOM) Podcast, guest hosts Blaine Carver and Sean Latimer discuss the concept of financial independence, its rising popularity, and its implications. They share personal anecdotes about 4th of July celebrations and the challenges of managing noise with small children and pets. The conversation transitions into an exploration of the FIRE (Financial Independence, Retire Early) movement and how it differs from traditional financial planning. Blaine and Sean highlight the importance of understanding personal financial goals, the definition of financial independence, and the emotional aspects of investing. They also delve into obstacles to financial independence, including excessive risk, emotional investing, and inflation. The episode concludes with insights on balancing current enjoyment with future financial security and understanding the nuances between financial independence and financial freedom. 00:20 4th of July Celebrations 01:49 Transition to Financial Independence 03:23 Defining Financial Independence 05:10 The FIRE Movement Explained 13:37 Challenges to Financial Independence 23:08 Strategies for Achieving Financial Independence 28:27 Financial Independence vs. Financial Freedom 29:40 Conclusion and Closing Remarks Links mentioned in this episode: http://thoughtsonmoney.com http://thebahnsengroup.com

This week's blogpost - https://bahnsen.co/3zpcXxW Embracing Volatility: Lessons from Nature and Investing In this episode of the Thoughts on Money Podcast, host Trevor Cummings, alongside colleagues Sean Latimer and Blaine Carver, discusses the concept of volatility in both nature and financial markets. Trevor shares personal stories about observing butterflies in his backyard and ties these experiences to investment strategies, emphasizing the importance of enduring market volatility to achieve long-term gains. The discussion also touches on the necessity of having a plan and safety nets in place to handle unforeseen circumstances. Listeners are encouraged to view market fluctuations as a feature, not a bug, that ultimately offers investment opportunities. 00:00 Welcome to the Thoughts on Money Podcast 00:21 The Struggle of Writing and Inspiration 00:49 Butterflies and Life Lessons 05:25 Connecting Nature to Financial Wisdom 05:57 The Importance of Volatility in Investing 08:28 Setting Realistic Expectations 12:19 Lessons from Hiking and Investing 25:54 The Role of Optionality in Financial Planning 27:19 Closing Thoughts and Upcoming Episodes Links mentioned in this episode: http://thoughtsonmoney.com http://thebahnsengroup.com

This week's blogpost - https://bahnsen.co/3KS7Ng9 Financial Advice: Owner vs. Coach In this episode of the Thoughts of Money podcast, host Trevor Cummings is joined by colleague Josh Klooz. They discuss the complexities of managing personal finances, emphasizing the importance of collaboration, integration, and trust between clients and advisors. Through analogies from football to cooking, they explore the roles of clients as either owners or coaches in their financial lives and the need for professional guidance. The episode covers topics like financial planning, the importance of customized advice, and how best to manage and delegate financial responsibilities to ensure alignment with personal life goals. 00:00 Introduction and Guest Welcome 01:04 The Love for College Football 03:34 Financial Planning: The Coach vs. Owner Analogy 05:31 The Importance of Collaboration in Financial Planning 07:39 Challenges of Do-It-Yourself Financial Management 10:38 The Role of Trust in Financial Advisory 19:13 Customized Financial Planning and Project Checklists 29:42 The Virtue of Giving and Leaving Well 30:33 Conclusion and Final Thoughts Links mentioned in this episode: http://thoughtsonmoney.com http://thebahnsengroup.com

This week's blogpost - https://bahnsen.co/4b4UxiQ Navigating Home Affordability: Practical Insights In this episode of the Thoughts on Money podcast, Trevor Cummings, joined by Blaine Carver, explores the current challenges of home affordability, discussing the impact of rising real estate prices and mortgage rates. They provide insights into why today's housing market is less affordable compared to previous decades, emphasizing the importance of considering financial ratios, such as home price-to-income. The conversation also delves into social pressures around home ownership and offers practical advice, including the significance of patience in financial decisions, the pitfalls of financial acrobatics, and the crucial role of parents in guiding their children through these financial choices. 00:00 Introduction to Thoughts on Money 00:40 Controversial Real Estate Opinions 01:34 Emotional Attachment to Real Estate 03:38 Baseball Anecdote and Home Prices 06:52 Affordability and Financial Ratios 11:12 Impact of Mortgage Rates on Home Buying 16:59 Generational Perspectives on Home Buying 20:41 Social Pressure and Home Ownership 21:49 Renting vs. Buying: Personal Experiences 24:52 Financial Acrobatics in Home Buying 26:55 Parental Support and Financial Independence 28:59 Key Financial Advice for Home Buyers 32:25 The Importance of Patience in Financial Decisions 38:16 Final Thoughts and Closing Remarks Links mentioned in this episode: http://thoughtsonmoney.com http://thebahnsengroup.com

This week's blogpost - https://bahnsen.co/3x5Xemm The Platypus Parallel: Unmasking Investor Behavior In this episode of the Thoughts on Money (TOM) podcast, host Trevor Cummings and his cohost Sean Latimer delve into the latest blog post that draws unexpected parallels between a zoo visit and investing. They discuss fun facts about animals from Trevor's family's frequent zoo visits and Wild Kratts adventures. The conversation transitions into a deeper exploration of black swan events in the market, the importance of not overreacting to such events, and the lack of a concrete 'antidote' for market downturns. They emphasize the value of enduring market volatility, likened to surviving excruciating yet non-lethal platypus venom, and how past experiences build resilience, drawing a whimsical reference to Kelly Clarkson's song 'What Doesn't Kill You Makes You Stronger.' Practical examples of hedging, market timing, and long-term investing strategies are explored, illustrated with engaging anecdotes and market insights. 00:00 Introduction to the Podcast 00:25 Zoo Adventures and Fun Facts 03:33 Investment Philosophy and Market Analogies 06:23 Black Swan Events and Market Timing 10:09 The Cost of Hedging and Insurance Strategies 16:12 Endurance and Long-Term Investing 21:41 Final Thoughts and Conclusion Links mentioned in this episode: http://thoughtsonmoney.com http://thebahnsengroup.com

This week's blogpost - https://bahnsen.co/3X2qzZp Breaking Records and Financial Progress: Embracing Market Highs and Human Innovation In this episode of the Thoughts on Money podcast (TOM), host Trevor Cummings and guest Blaine Carver delve into the concept of breaking records and the nature of progress, both in sports and financial markets. They discuss notable sports records, such as Roger Bannister's sub-four-minute mile and LeBron James' scoring milestone, emphasizing how once-unthinkable achievements became benchmarks for future generations. Shifting focus to financial markets, they explore investor psychology, the recurrent nature of market highs, and the overarching theme of gradual human progress driving long-term market growth. The importance of maintaining a positive, diligent perspective amidst sensationalist headlines and market highs is highlighted, along with practical investment advice and the value of well-reasoned decision-making. The episode also offers timeless wisdom on embracing incremental improvements, both in personal and financial contexts. 00:00 Introduction and Welcome 00:33 Unbreakable Sports Records 02:13 The Mile Record: Breaking Barriers 06:01 The Concept of Progress 08:42 Market Highs and Investor Emotions 15:15 Practical Investment Advice 17:32 The Importance of Diligence and Perspective 27:30 Conclusion and Final Thoughts Links mentioned in this episode: http://thoughtsonmoney.com http://thebahnsengroup.com

This week's blogpost - https://bahnsen.co/4bTgiTx One of the secrets to long-term financial success is avoiding big mistakes.  Big mistakes come in all different shapes and sizes, which is exactly what we will unpack today.  We will cover the consequences of concentration, panic, big losses, and what I like to call tax magic.  This should be a fun one, and I hope you won't miss it.  Links mentioned in this episode: http://thoughtsonmoney.com http://thebahnsengroup.com

This week's blogpost - https://bahnsen.co/3wBQQ6i Today I have the honor and privilege of welcoming a first-time Thoughts On Money contributor. Josh Klooz is leading the charge on our recent endeavors in Houston, TX and is joining us today to share the importance of not just passing down financial wealth, but financial wisdom. Josh grew up on a farm in Nebraska is well-acquainted with hard work. Josh unpacks the life lessons he's gleaned from his childhood and how he is passing this wisdom down to the next generation. So, with summer just around the corner, please join us today for Josh's Thoughts on Money: Summer Work. Links mentioned in this episode: http://thoughtsonmoney.com http://thebahnsengroup.com

This week's blogpost - https://bahnsen.co/3QF5Zum The decade from 2000-2009 included both the Dot-Com Bubble and the Global Financial Crisis (GFC).  We call this the Lost Decade because it was a rare occurrence where stock investors experienced a negative return over a 10-year period. This decade will live in infamy and will be the talk of countless financial books, newsletters, blogs, and white papers.   Today, I would like to unpack what I call the New Lost Decade, which we live in now.  This topic doesn't seem to be catching as much attention, but I will point out why this is so important to you as an investor.  This has nothing to do with the stock market and everything to do with the bond market.   I hope you can join me today to discuss the New Lost Decade.     Links mentioned in this episode: http://thoughtsonmoney.com http://thebahnsengroup.com

This week's blogpost - https://bahnsen.co/3USNw01 Today, I am excited to introduce our guest author, Sean Ullrich. Sean hails from our Nashville office.  His visit to Newport Beach this week made for perfect timing to record the podcast and publish his first Thoughts On Money contribution.     Please join us as Sean bridges the connection between duck hunting and taxes in his article, It's All About What You Keep. Links mentioned in this episode: http://thoughtsonmoney.com http://thebahnsengroup.com

This week's blogpost - https://bahnsen.co/3y08bG8 Let me ask you this, why did Goldilock's parent allow her to wander alone in the forest? It's never a good idea to invade the space of a bear, especially not three of them.  I don't want you wandering the forest of personal finance tabloids or hanging around permabears.  Join me as I unpack the history of gold and call into question some of the headlines that you might be seeing out there.  Links mentioned in this episode: http://thoughtsonmoney.com http://thebahnsengroup.com

This week's blogpost - https://bahnsen.co/446kXz1 Turns out, the path to a prosperous retirement is not too different than learning to line-dance. The steps you take, and the sequence of those steps, can either carry you to the finish line or leave you woefully out of place. Without spoiling the surprise, join us today as James Andrews unpacks the steps to securing your retirement. Links mentioned in this episode: http://thoughtsonmoney.com http://thebahnsengroup.com

This week's blogpost - https://bahnsen.co/3VNPHTq Lately, bonds have been behaving a lot like stocks. This can become a major issue for investors. The growing correlation between stocks and bonds challenges the historical diversification benefits that investors have relied on. What is an investor to do? Join me today as I unpack diversification via dividends and present a classic solution to a modern problem. You won't want to miss it… Links mentioned in this episode: http://thoughtsonmoney.com http://thebahnsengroup.com

This week's blogpost - https://bahnsen.co/3vzmbWH The stock market has quite the win streak going. I submit that this in itself should not concern investors, but it is something investors should be aware of. Markets are indeed unpredictable, and markets are multi-directional. Sometimes win streaks can lull us to sleep allowing us to forget that markets are… multi-directional. Join me today as I discuss this current win streak, kids on roller coasters, and the importance of healthy expectations. Links mentioned in this episode: http://thoughtsonmoney.com http://thebahnsengroup.com