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This episode is part of our series of retirement planning headlines and what they may or may not mean for your upcoming retirement. Our little roundup of things we've read over the last couple of weeks that are out there in the media. Watch it on YouTube HERE Today we are reviewing some of the headlines from December and January highlighting some of the better things we've seen out there for consumer financial planning. If you listen here, you don't have to read all of these articles, we do it for you and provide the highlights! Here are the articles: 6 Questions New Donors Should Ask Themselves About Charitable Giving How to learn about Charities Charity Navigator Candid Local Community Foundation How to give Time, talent, and treasures Taxes 501c3 Up to 60% of AGI if you itemize Doner advised funds, batching QCDs How Much Do We Give to Charities Now That We're Retired? Part of a series that follows newly retired Wall Street Journal Bureau chief Stephen Yoder and his wife Karen An insightful first-hand account of the decisions they are making and obstacles they face as new retirees What's Your Why? Madeline Hume, CFA writing for Morningstar A CFA reflects on how / why she became a Chartered Financial Analyst About figuring out the "why" of market movements, but also her "why" in terms of what she's doing Interesting stuff about formative experiences with money Money scripts - insights into how we consider and act, the stories we tell ourselves Your 401(k) Is Up. Don't Let It Go to Your Head "Don't let your self-worth balloon along with your net worth" The overconfidence that comes with big gains causes people to make mistakes (just like they do with big losses) What's Changing for Retirement in 2024? Higher tax thresholds No RMD for Roth 401k, so may not be as important to roll those over How Much House Can I Afford? This great piece explains how to figure out a housing budget Ratios for affordable payments 28% - DTI before mortgage 36% - DTI with mortgage 3 x salary method Doesn't take into account existing debt, so do both ways Interest rates and how they affect what you can afford How Retirement Spending Works in the Real World Retirees naturally reduce their spending over time Which would you prefer: Hold back early in retirement worrying about what you'll need Balanced spending may not be entirely sustainable, but in your late 70's we're having a difficult conversation about cutting some costs because you've done a bunch of cool stuff and now need to be a bit more careful (noting that you'll likely not want to do more stuff at that point anyway?) Retirement Planning Is More Than Financial Planning Finances are crucial, but when you only consider finances, it becomes a hub around which your life revolves. Instead, focus on building your life around being the best version of yourself. Money is a tool, not the end all be all of retirement planning The mathematical approach isn't always the best Gov. Whitmer Launches “MI Vehicle Rebate” Plan to Lower Vehicle Prices, Boost Sales in Michigan $2,500 on a new battery electric or hybrid vehicle manufactured in a facility where the workers are represented by an automotive union. $2,000 on a new battery electric or hybrid vehicle. $1,500 on a new internal combustion vehicle in a facility where the workers are represented by an automotive union. $1,000 on all other new internal combustion vehicles. The rebate will continue until Michiganders realize all savings in the $25 million program. Here are the links Nick mentions for tax incentives for an electric car purchase: Tax Credit Information Plug-in Hybrid Options Don't get fooled again: 3 ways investors are tricked, and 6 ways to protect yourself
In today's episode, Madeline Hume, a NEXT senior research analyst for Morningstar Research Services, talks about how high cash rates will affect bonds. Netflix Surpassed ExpectationsUnited Airlines Q2 Results SoaredPNC Projected Slower Growth Inflation, Cash, and BondsBond Outlook 2023Why Should Investors Consider Bonds?Opportunity Costs of Holding Money in Bond FundsIncome In Investor's Portfolio5 Surprising Investments That Shouldn't Be Long-Term Core Holdings Read about topics from this episode. Netflix Earnings: Solid Results as Paid Sharing Boosts Subscriber GrowthUnited Airlines Earnings: Robust Q2, but Costs Rising on Upgrades and New Labor AgreementsPNC Earnings: Funding Pressure Remains, but Smaller Changes to OutlookIs It Time to Break Up With the Bonds in Your Portfolio?What Role Should Cash Play in Your Portfolio? What to watch from Morningstar.Nasdaq 100 Rebalance: What It Means for Your PortfolioHiring a Financial Advisor? Honesty Counts (With Yourself, Too)Firing Your Financial Advisor? When To Stay, When To GoMidyear Market News: 'Unusual' Stock Rally and Today's Sticky Inflation Read what our team is writing:Ruth SaldanhaMadeline HumeChristine BenzAmy C. Arnott Follow us on social media.Ruth Saldanha on Twitter: @karishmaruthFacebook: https://www.facebook.com/MorningstarInc/Twitter: https://twitter.com/MorningstarIncInstagram: https://www.instagram.com/morningstar... LinkedIn: https://www.linkedin.com/company/5161/
Our guest on the podcast today is Micah Hauptman. Micah is the director of investor protection at the Consumer Federation of America, a nonprofit association of nearly 300 national, state, and local pro-consumer organizations. He leads CFA's investor protection work through conducting research and engaging in advocacy on investor protection issues, focusing primarily on the regulation of investment advisors, investment companies, and broker/dealers, particularly as they relate to the provision of retail investment products and services. Prior to rejoining CFA in early 2022 Micah served as counsel to Securities and Exchange Commission commissioner Caroline Crenshaw, and before that he served as CFA's financial services counsel for nearly seven years. He also worked at Public Citizen on a broad range of banking and tax issues and started his career as a prosecutor for the Los Angeles City Attorney's office. Micah received his bachelor's degree in political science from UCLA and his JD degree from the University of the Pacific McGeorge School of Law.BackgroundBioKey Challenges for Investors“New Offerings of Crypto in Retirement Plans Underscore Need for DOL Fiduciary,” by Micah Hauptman and Dylan Bruce, consumerfed.org, April 4, 2023.Department of Labor's 2016 Fiduciary Rule: Background and Issues“Improving Investment Advice for Workers & Retirees,” U.S. Department of Labor, dol.gov, June 29, 2020.Regulation Best InterestRegulation Best Interest (Reg BI) Overview“What Regulation Best Interest Means for Brokers and Asset Managers,” by Aron Szapiro, Morningstar.com, Nov. 18, 2019.“Beyond the FINRA Suitability Comfort Zone,” by Matthew Radgowski and Jill Axline, Morningstar.com, March 9, 2020.Cryptocurrency“Crypto: Risks Abound,” by Micah Hauptman, consumerfed.org, Nov. 17, 2022.“With Crypto, Advisors Need to Tread Carefully,” by Jasmin Sethi, Morningstar.com, Aug. 15, 2022.“Bitcoin in Your 401(k)? Not so Fast,” by Madeline Hume, Morningstar.com, April 27, 2022.Social Media“Investors in the United States: The Changing Landscape,” A Report of the FINRA Foundation National Financial Capability Study, finrafoundation.org, December 2022.“Why You Should Stop Taking Investment Advice From Social Media,” by Sunniva Kolostyak, Morningstar.com, June 16, 2021.Environmental, Social, and Governance“CFA Strongly Supports SEC Proposals to Enhance ESG-Related Disclosures and Update Names Rule,” by Micah Hauptman and Dylan Bruce, consumerfed.org, Aug. 16, 2022.“Amid Charges of Greenwashing, Sustainable-Investment Industry Attempts to Reassure Investors,” by Leslie Norton, Morningstar.com, June 8, 2022.Other“Robert Powell: ‘How Do I Generate the Income?'” The Long View podcast, Morningstar.com, March 14, 2023.Morningstar Investment Conference 2023
In this special two-part episode of Big Picture in Practice, Julie Willoughby and Syl Flood discuss the impact of cryptocurrency and digital financial assets on advice. First, they interview Morningstar Research Services analyst Madeline Hume on the current cryptocurrency landscape. Next, they interview Hashim Mitha, CEO of MeetAmi, on the challenges and opportunities that cryptocurrency provides for advisors.
In this week's podcast, Amy Arnott discusses how new retirees can make sure they don't outlive their assets, Susan Dziubinski shares her picks for stocks during market volatility, and Madeline Hume talks cryptocurrency myths.
In this week's podcast, Madeline Hume and Susan Dziubinski tell you what you need to know before investing in crypto, Patricia Oey and Susan Dziubinski bust some 529 plan myths ahead of “529 College Savings Day,” and Carole Hodorowicz shares six tips for college graduates.
In this week’s podcast, Russ Kinnel shares four highly-rated funds that have reopened for investors, Alex Bryan addresses the risks and rewards of value investing, Madeline Hume evaluates how the recent market crisis affects college savings, Christine Benz suggests strategies for retirees who rely on dividend stocks, and our data reveals that stocks are less attractive today than they were in March.
In this week’s podcast, our analysts highlight three great value funds, equity analyst Charles Fishman talks energy, Alex Bryan shares three bond ETFs for a low yield environment, analyst Madeline Hume discusses results from our recent college saving plan ratings, and Alec Lucas picks three gold-rated large growth funds for your shopping cart.
In this week’s podcast, our analysts highlight three great value funds, equity analyst Charles Fishman talks energy, Alex Bryan shares three bond ETFs for a low yield environment, analyst Madeline Hume discusses results from our recent college saving plan ratings, and Alec Lucas picks three gold-rated large growth funds for your shopping cart.
Allison Schrager is an economist who's studied negotiation, diversification, and also, the topic we'll discuss in today's episode, risk. She'll explain risk using a lens that we haven't seen someone use before...the eyes and actions of legal sex workers. To illustrate how people think about risk, she visited brothels, horse breeders, and, among others, poker players. We'll discuss the many ways we miscalculate risk, how to make better decisions, and what happens when we evaluate the wrong types of risk. And in our headlines segment, we'll call up Madeline Hume from Morningstar. They've completed a report on the state of 529 college savings plans nationally, and Joe and Madeline will dive into the data. We'll talk ab out the latest innovations in plans, plus shine a spotlight on some of the best and worst states to invest your hard-earned college money. Plus, we'll look at one piece describing a shakeup in the online financial planning community that could spell trouble for industry leader Vanguard. In our Haven Life Line segment, we'll throw out the line to Jason, who has some questions for OG about risk parity. Would something like a a 50/50 split between stocks and long-term treasuries a good idea? What are the possible downsides? After we spend some time giving advice to Jason we'll tear open Chris's letter, who has some social security questions. Considering the investments and pensions Chris and his wife already have on the table, would it make more sense to defer taking social security? We'll give our thoughts, but if you're looking for a more in depth conversation about social security you can check our our previous interview with Philip Moeller and Paul Solman. Thanks to Skillshare for supporting Stacking Benjamins. Get TWO months of courses for free at Skillshare.com/SB. Thanks to Simple Contacts for supporting Stacking Benjamins. Save $20 on your first Simple Contacts order at http://www.simplecontacts.com/sb and use promo code: sb.
In this week’s podcast, our analysts take a look at three great funds for your “mad money” account, retirement expert Ed Slott talks with Christine Benz about mistakes to avoid with Qualified Charitable Distributions, Seth Goldstein with an undervalued wide-moat stock, Russ Kinnel with three of his favorite actively managed large-cap funds, Madeline Hume recaps the findings in Morningstar’s latest 529 report, and Gregg Wolper takes a look at frontier funds.
In this week’s podcast, our analysts take a look at three great funds for your “mad money” account, retirement expert Ed Slott talks with Christine Benz about mistakes to avoid with Qualified Charitable Distributions, Seth Goldstein with an undervalued wide-moat stock, Russ Kinnel with three of his favorite actively managed large-cap funds, Madeline Hume recaps the findings in Morningstar’s latest 529 report, and Gregg Wolper takes a look at frontier funds.