True Wealth - Financial & Investing Podcast

With inflation running hot and the middle class getting squeezed, how do we push through difficult times and overcome the financial adversity? Let’s explore the pain points and learn how we can be better investors.

In a time where everything costs more, taxes are a burden and wage growth might not feel adequate, how do we fight back? This episode breaks down practical ways the middle class can stretch the dollar and make smart money moves. Episode Highlights: The potential investment value of firearms and ammunition, and the challenges the middle class faces in ascending to wealth. Impact of COVID-19 on global supply chains, the shift in manufacturing from China to other regions for resilience and national security, and the role of geopolitical tensions and media narratives on financial markets. Insights into economic cycles, the possibility of inflation or deflation, the role of the Federal Reserve and the complexity of managing government debt and interest rates. Strategies for wealth accumulation through asset allocation, the importance of investing in appreciating assets and balancing spending on life-enriching experiences with saving for financial growth. Principles of scarcity and leverage as they apply to economics, including the high market value of professional athletes due to their unique skills and limited supply and the strategic moves in industries such as semiconductor manufacturing. An understanding of how tax implications affect different income streams and the advantages of certain types of income such as long term capital gains, real estate and passive income over earned income. SUBSCRIBE ON YOUTUBE! Looking for Personal Financial Advice? - Learn More Here TRANSCRIPT 00:00:00 Here's the interesting thing about buying into, like the stock market. Okay? Now, admittedly– 00:00:05 This is what I tell my wife whenever I buy a new gun, honey, it's an asset. 00:00:09 Well, and the crazy thing is that guns have historically appreciated in value. Unless they are abused, they typically hold their value or even go up. 00:00:16 Interestingly enough, even ammo. You watch ammo prices continually jump, jump, jump. 00:00:21 Yeah. You know when ammo prices drop though? After you shoot it. It's really not worth as much. 00:00:27 Just hold on to it. 00:00:36 All right. It is that time of the week, the time where we complain about the inter music and get started with the True Wealth Radio Show. I'm your host, Dave Littlejohn. In studio today with me. 00:00:45 Matt Dickson. 00:00:46 Right. Because we're like, how did we pick that one? 00:00:49 Well, we didn't. So we just move on and– 00:00:52 Right. 00:00:53 We love it. 00:00:53 What song should we move toward? Can we pull the audio? I want everybody that's listening to throw, especially if you're watching this as a YouTube like thing. Go put the comments in there. We need some intro music. What should we try? Okay, so anyway, but this is not the show, this is not the True Wealth music program. We're not gonna do that. True Wealth Radio Show today. The topic of the day. Huh? 00:01:18 Are we talking about wealth? 00:01:19 We are, no, so this is– 00:01:20 True wealth? Artificial wealth? 00:01:22 Maybe. 00:01:22 What type of wealth? 00:01:23 Well, today we're gonna talk about being in the middle class and trying to break out of the middle class into the wealth class. 00:01:30 Okay. 00:01:31 Okay? Because– 00:01:32 These tricks and everything in between. 00:01:34 Well, there'll be a little bit of that. What did we say? It was kind of, I will call it mildly obnoxious, but like, right? Unfortunately, the middle class often gets– 00:01:45 Pinched. 00:01:46 The middle finger. 00:01:47 Yeah. 00:01:47 Right? 00:01:48 No, it's true. 00:01:49 The middle class gets the middle finger. 00:01:50 And every politician is gonna look at you and say, I got a plan to help you out. 00:01:54 Well,

Dive into the parallels between today's AI hype and the late 90's tech bubble. Discover similarities, differences, and valuable lessons for smart investing. Explore how historical trends can guide us in making smarter investment decisions amidst the current AI craze. Episode Highlights: AI's transformative potential, economic disruptions, and cybersecurity risks, balancing its benefits with potential drawbacks. The true cost of technology, particularly AI and its impact on the job market, including potential job losses. Energy usage and carbon footprint of AI platforms like ChatGPT, alongside the resource requirements of electric vehicles and AI technology. The adverse impacts of technology on social behavior, productivity, and the risk of dependency, prompting the necessity for a 'tech detox.' The speed of market transactions, the shift to decimal stock prices, blockchain technology, and the environmental impact of AI and digital technology. SUBSCRIBE HERE! Looking for Personal Financial Advice? - Learn More Here TRANSCRIPT 00:00:00 What's the diminishing return, right? AI can do everything in 0.001 seconds, but we need to get it down to 0.0001 seconds. And you're like, what's the differentiator? Right now, if it has to fight another AI for something and it needs that speed, maybe, you know, military, something like that. This is for most of us. It's like, I can wait the one 100th of a second and I don't have to spend twice as much. 00:00:32 All right, that's the new music. It tells us we're going again. Welcome to the True Wealth radio show. I'm your host Dave Littlejohn. Matt's in the studio with me today. And we're currently setting up cameras and making sure that they are live because we are chatty and sometimes, we're a little slow on the uptake here, but we've got a very interesting show for you. And again, this is the greatest Tuesday you've had all week. 00:01:01 First, I'm just going to say this out loud. I think we're going to have to try to get different music, right? This is not a news program. This is like a financial entertainment program. Right? So we got to talk about money and we got to talk about it. Make it fun. Right. So we, this, that news thing, it just makes me all stressed out. 00:01:22 Well, it's not my favorite. Yeah. 00:01:25 All right. So Dale, we've officially put our vote in Kyle. We were officially voting. We're going to change the music for our program. You know why? 00:01:33 What's like if your life was a theme song, what would it be? 00:01:36 Oh, probably something goofy. It's not like-- 00:01:39 I had a tiger or something super cool. 00:01:41 No, no, that's cool. That I'm like, I'm not the cool guy. I'm firmly in dadland now. And so my life is a stream together of dad jokes and finance. Yeah. 00:01:57 In that order? 00:01:57 Yeah. Do you need me to, are you going to fight the microphone? 00:02:00 I am. 00:02:01 That's like literally just, you guys are going to have to watch the video of it later because it's going to look ridiculous. Like, what are you, are you arm wrestling the microphone? 00:02:10 I'm just going to give up for the segment and say, you know what? We'll fix it at the break. 00:21:16 Yeah. So anyway, we got to thinking today, what would be the most valuable thing that we can talk about? And I will tell you, I feel like I was chasing a curveball today. 00:02:28 Yeah, but. 00:02:29 Well, why? You know, cause yesterday was tax day, right? So tax freedom day, which I haven't checked the actual date. You know, there's a thing by the way, you know, there's a thing called tax freedom days. 00:02:37 You have to work in order to like start to break even. And it's like, you work for the first, what, three or four months. 00:02:43 It's usually really close. It's somewhere in early February.

In this video, we'll explore how different generations view and manage money based on their historical experiences. From The Silent Generation to Gen Z, we'll discuss the unique perspectives each generation brings to money management.

Curious about mutual funds? In this video, we dive deep into the structure of mutual funds to help you understand them better. So many options, but we've got you covered!

Are you struggling to make financial decisions? A financial coach can help you reach your financial goals and reduce financial stress. Find out if a financial coach is right for you in this video! In this episode, you will learn the following : Human aspect of financial advising and the importance of personalized coaching. The transformative impact a financial mentor can have on an individual’s success. Significance of strategic advisory teams and the concept of having a personal ‘board of directors’ for different aspects of life. A holistic financial advice that encompasses taxes, legacy and trust planning is important. Value of tailoring a coach’s approach to the individual needs of clients for optimal growth. Role of third-party expertise in business and how it can contribute to monumental growth and avoidance of pitfalls. Building a strong professional network and being selective in choosing experts who can communicate effectively is necessary. VIEW FULL EPISODES ON YOUTUBE!

Confused about which retirement account is best for you? In this video, we break down the differences between Roth vs Traditional IRA, covering key details and considerations to help you make the best decision for your financial future. Watch now to become an expert on Roth vs Traditional IRA! In this episode, you will learn the following : ● Distinguishing between traditional and Roth IRAs, their tax implications and the significance of rolling over these accounts. ● The IRA contribution rules, emphasizing that one must have earned income to contribute. ● The importance of maximizing catch-up contributions for those over 50. ● The need to stay current with regulations that adjust for inflation and the changing ages for required minimum distributions (RMDs). ● The significance of keeping track of non-deductible IRA contributions, which can affect your tax situation upon withdrawal. ● The five-year rule for Roth IRAs, explaining that both contributions and conversions to a Roth IRA must satisfy a five-year holding period to avoid penalties. ● The estate planning considerations. ● The unique benefits of Roth IRAs in estate planning. SUBSCRIBE ON YOUTUBE! Looking for Personal Financial Advice? - Learn More Here TRANSCRIPT 00:00:00 Here's an example that you have to be aware of too, for example, a lot of people, oh, I've worked for years and I have a 401(k) plan. Years ago, my employer offered the ability to have a Roth 401(k). And so you took that up and put some money in there. 00:00:15 Perfect. 00:00:15 And then you say, I'm gonna retire and I'm gonna roll over my IRA and I'm going to– 00:00:23 I'm cringing. 00:00:24 Then take control of it and get it out of the company plan. Why are you cringing, Matt? 00:00:30 Because if you roll it over into the Roth portion, you're starting that five-year clock that we just talked about. And it's like, hey, I'm retired, and I'm ready to spend some of my money. And then you're like, mm. 00:00:43 Oops, I just rebooted my five-year clock. I just re-exposed myself to the taxes that I wasn't exposed to. 00:00:57 I'm so excited to be here. I can't even wait for the guitar riff, Matt. 00:01:01 You know what? Just cut that guitar riff out. 00:01:04 Let's do this thing. Welcome to the True Wealth Radio Show on this, the greatest Tuesday you've had all week. I'm your host, Dave Littlejohn. Joining me today. 00:01:12 Matt Dickson. 00:01:13 And we did show prep. 00:01:17 You did. 00:01:18 Yeah. 00:01:19 Well, I was kind of there for some of it, right? 00:01:20 You were. Oh, actually, no, we did do show prep, believe me. We've had a lot of discussion. Today, we are going to talk about something that should be relevant to all of our listeners. And no, we're not going to go run off into the weeds. We're not going to talk politics or anything like that, although it's probably unavoidable knowing who we are. But we are going to talk about IRAs. 00:01:41 Is it because April 15th is kind of around the corner? 00:01:44 April 15th is around the corner. No, it's the way you say it. 00:01:48 I feel like winter. 00:01:49 Irish Republican Army. Who is that? Not that IRA. 00:01:53 Not that IRA. No. 00:01:54 Yeah, I mean, that was sort of the start of it. And then I've had a number of questions that have just come up recently. We've had a number of clients that have also been talking to us about things like, should I convert some IRA into Roth and so forth? So we are going to talk today about exactly that. Right. 00:02:16 And maybe like, differences versus similarities? 00:02:18 Yeah, if you're, we're gonna look at traditional versus Roth IRAs and some of the use cases for the win of, you know, the different types. Like, why might you want one over another? Might you want both? What does it mean? And so, and some of this, we're not gonna shy away from, there aren't necessarily yes or no answers to th...

Have you checked to ensure your beneficiaries are up-to-date? Is your life insurance under the correct spouse? Should you consider gifting assets and cash, or allow heirs to inherit? Are your assets titled in the name of your trust? Do you need a trust, and how does it differ from a will? Is a Roth Conversion the right choice for me? What exactly is a backdoor Roth? Should I convert my home into a rental? Mistakes can be costly, so tune in now for tips, tricks, and everything in between. In this episode, you will learn the following: Understanding how life insurance policies are included in the estate value is essential. If not managed correctly, life insurance can lead to taxable events. Trusts can help manage estate tax exposure but do not eliminate tax obligations. It’s essential to fund a trust by retitling assets. Common mistakes in financial planning can lead to significant tax bills and legal complications. There’s a need for accurate financial knowledge and the value of seeking professional advice to avoid errors. Strategic planning is necessary to manage estate taxes and preserve wealth within families. Demystification of the backdoor Roth IRA strategy which allows high earners to maximize their retirement savings despite income limits on traditional Roth IRAs. The critical role of precise knowledge and the benefits of having a professional financial advisor.

Discover the various methods and approaches to market analysis in this insightful video. Learn all about factor investing and how it can enhance your investment strategy. Dive deep into the world of investment evaluation and broaden your financial knowledge today! In this episode, you will learn the following : The basics of factor-based investing and how it differs from asset class categorization. The relationship between risk and expected rates of return using personal credit as an analogy. The three-factor model which includes market capitalization, value versus growth investments and the book to market ratio. How different investment factors such as beta, value and quality impact the volatility and potential returns of a stock. The concept of the cost of capital, interest rates and their effects on consumers, businesses, and government spending. A comparison of how different sectors like technology and consumer staples deal with economic fluctuations. The importance of having a strategy to weather financial storms.

There seem to be two kinds of people in the world - spenders and savers. Spenders usually need to learn how to save. But when is the right time for savers to spend? If you're never going to spend the money, what kind of impact could you have? David and Justin tackle this question and more in this episode of True Wealth. In this episode, you will learn the following : The psychological barriers that prevent individuals from enjoying their finances. Financial industry's emphasis on wealth accumulation over strategic spending. The balance between enhancing one's lifestyle in retirement and planned giving to personal interests and charities. Strategies for managing retirement income, including safe withdrawal rates and the role of insurance. Financial implications of homeownership and the critical choice between self-insurance and the security of an annuity. Risk management in the golden years and considers the impact of deep-seated beliefs on financial behaviors.

In this era of escalating labor expenses, inflation, and real estate prices, how do you maintain healthy margins while expanding your business? As the True Wealth team welcomes a special guest to the show, tune in to hear from a prosperous local business owner.

As technology advances, what potential advantages and disadvantages might artificial intelligence have for the world? We must be alert and learn how to use this tool for good as the world evolves.

How efficient is the stock market? Should you put all your money in at once? There are a lot of theories floating around, so lets take a look at what these theories mean and how investors can benefit from educating themselves on the way markets operate.

What does preparedness in the face of natural disasters and potential system-wide challenges look like? Join Littlejohn Financial as they unveil a curated list of items crucial for turbulent times. Tune in to ensure you're equipped for any unforeseen circumstances.

While many advisors focus on downturns, we unveil crucial insights on how to capitalize on market highs. Tune in to learn actionable strategies and gain a competitive edge in handling a hot stock market.

With so many politicians on the naughty list this year, rumors are whirling about sightings of Santa opting to shovel coal as he flew over the capital this Christmas Eve. Bad actions often bring about unfavorable consequences: we need more accountability. Catch our top take aways from 2023 as we wrap up the year.

We examine the true extent of the nation's debt as it continues to rise. Is it possible to solve the issue? Things may appear slightly differently than you would think.

Although we are not in possession of a miraculous crystal ball that can see into the future, we may utilize technical and basic patterns to guide our decision-making. Don't pass up this fascinating viewpoint that you should hear.

Humor and catchy phrases make for easier ways to understand investing. You know you need a good laugh and a couple funny investment phrases, so tune in and laugh along with the True Wealth team as they run through a variety of ways to avoid mistakes and invest with confidence.

This show highlights 10 examples of financial mistakes. Learning from others blunders can save a lot of unnecessary pain, so tune in and learn how to leverage a little patience and control during high stress situations.