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Your Money & Your Life Podcast

Business & Economics Podcasts

Financial and retirement planning guidance from Certified Financial Planner Donald Cash in Red Bank, NJ. Truly understanding what's happening inside your portfolio is so important to achieving retirement success. The planning process can be difficult if you tackle it alone, so make sure to listen to each episode to get great guidance and make the task much easier.

Location:

United States

Description:

Financial and retirement planning guidance from Certified Financial Planner Donald Cash in Red Bank, NJ. Truly understanding what's happening inside your portfolio is so important to achieving retirement success. The planning process can be difficult if you tackle it alone, so make sure to listen to each episode to get great guidance and make the task much easier.

Language:

English

Contact:

9193781410


Episodes

Little-known Tax deduction for your Valentine

2/14/2024
Punxsutawney Phil did not see his shadow, the Kansas City Chiefs won the Super Bowl, and Valentine’s Day is here. It’s a busy time of year, and while “Be my little tax deduction” isn’t the most romantic thing to say to your spouse this holiday, we’re going to discuss a tax deduction you can make for your Valentine before April 15th in today’s show. Here’s some of what we discuss in this episode: Resources for this episode: Wall Street Journal Article – Spousal IRAs https://www.wsj.com/personal-finance/retirement/theres-still-a-way-to-double-your-retirement-tax-breaks-before-filing-0f689dc1?st=cssro7zcnwkzp8r&reflink=desktopwebshare_permalink Income limits for IRA deductions https://www.irs.gov/retirement-plans/2023-ira-deduction-limits-effect-of-modified-agi-on-deduction-if-you-are-covered-by-a-retirement-plan-at-work Get in touch with Don and learn more: https://doncashpodcast.com/

Duration:00:19:36

Successful Retirement Planning Is Like The Movie “Groundhog Day”

2/1/2024
In celebration of the holiday this week, we thought we’d have a little fun and see what the movie “Groundhog Day,” starring Bill Murray and Andy MacDowell, can teach us about successful retirement planning. Just like Bill Murray’s character, Phil, is forced to relive the same day over and over and learn from his mistakes, retirement planning is an ongoing journey that calls for adaptability, continuous learning, and a commitment to positive change. Here’s some of what we discuss in this episode: Get in touch with Don and learn more: https://doncashpodcast.com/

Duration:00:25:27

Bad News Is Good News?

1/18/2024
It’s that time again when the world attempts to foresee the twists and turns the coming months might bring. As the air buzzes with predictions and forecasts, it's worth stepping back and glancing at the rearview mirror of history. In it, you’ll see that predicting the future isn’t as easy as it seems. Here’s some of what we discuss in this episode: Episode Resources Bad News For the Economy is Good News for the Stock Market https://www.cnbc.com/2023/11/03/bad-news-for-the-economy-is-good-news-for-the-stock-market-as-long-as-it-doesnt-get-too-bad.html%20 The Future is Bright If You Know Where To Look https://www.wsj.com/tech/ai/the-future-is-bright-if-you-know-where-to-look-98874b3d?st=qz6edtiza4mgqna&reflink=desktopwebshare_permalink%20The%20Future%20Is%20Unpredictable%20Even%20When%20It%E2%80%99s%20Certain%20 The Future Is Unpredictable Even When It's Certain https://www.wsj.com/articles/the-future-is-unpredictable-even-when-its-certain-2024-political-cycle-71996049?st=nqlq0lflg6nwlg5&reflink=desktopwebshare_permalink Get in touch with Don and learn more: https://doncashpodcast.com/

Duration:00:21:00

New Year’s Resolutions + Lessons From 2023

1/4/2024
The new year is upon us, so we thought we’d take this time to reflect on the past year and chat about starting the new year on the right footing. Join Don and Marc as they discuss a wide array of topics, ranging from health concerns to retirement, relationships, and unexpected global events that took place in 2023. Here’s some of what we discuss in this episode: Get in touch with Don and learn more: https://doncashpodcast.com/

Duration:00:28:41

3 Conversations To Have About Money Over The Holidays

12/14/2023
As we gather around festive tables and share the joy of the season with our loved ones, the holidays provide the perfect backdrop for meaningful conversations. In today’s episode we’re going to explore the three important money conversations that you should consider having during the holidays. Here’s some of what we discuss in this episode: Get in touch with Don and learn more: https://doncashpodcast.com/

Duration:00:29:32

Year End Planning: “In the Red Zone” (Part 2)

11/30/2023
We’re back to wrap up this two-part episode on year-end planning for 2023. As 2024 approaches, it is the perfect time of year for these conversations. If you missed part one, you can catch up on the conversation here! In this episode, we’ll chat about several topics including the looming expiration of the current tax code in 2026, the increasing national debt, and the potential rise in tax rates. Don will also share how those in need of long-term care can leverage their IRA assets to minimize taxes, talk about the often-overlooked 0% capital gains tax bracket, discuss the importance of proactive tax planning, and more. Here’s some of what we discuss in this episode: Get in touch with Don and learn more: https://doncashpodcast.com/

Duration:00:25:12

Year End Planning: It’s Not Too Early (Part 1)

11/9/2023
Join us for a two-part episode where we unpack our 2023 edition of key year-end planning strategies for those nearing or embracing their retirement years. With the holidays right around the corner, it is the perfect time of year for these conversations. Listen in as we cover a range of topics, from IRA and 401k contribution limits to Roth IRA conversions and charitable giving options. Here’s some of what we discuss in this episode: Wall Street Journal Article: https://www.wsj.com/lifestyle/travel/airline-customer-service-scam-twitter-x-e1879760?mod=Searchresults_pos1&page=1 Get in touch with Don and learn more: https://doncashpodcast.com/

Duration:00:25:29

Medicare Mistakes To Avoid During Open Enrollment Season

10/26/2023
It’s Medicare open enrollment season, so in today’s episode, we’re going to dive into some of its complexities and share the common mistakes you want to avoid during this critical period. Listen in as Don and Marc discuss the differences between traditional Medicare, Medicare Supplements and Medicare Advantage plans, and stress the importance of understanding Medicare drug plans. Here’s some of what we discuss in this episode: Wall Street Journal Article: https://www.wsj.com/health/healthcare/medicare-advantage-enrollment-risks-923e7952 Previouis Medicare Episodes: https://yourmoneyyourlife.podbean.com/e/abc-s-of-medicare/ https://yourmoneyyourlife.podbean.com/e/ep-61-abc-s-of-medicare/ Get in touch with Don and learn more: https://doncashpodcast.com/

Duration:00:27:48

Identity Theft: The Reality, Risks, and How to Stay Safe

10/11/2023
In a world where technology is integral to our daily lives, identity theft remains a significant concern. While we may be aware of the risks, it's easy to let our guard down, often not realizing the gravity until we become victims ourselves. Join Don and Marc as they delve into the world of identity theft, shedding light on the risks and often-overlooked vulnerabilities that put us at risk. Here’s some of what we discuss in this episode: Some services that can provide extra protection against identity theft Additional Resources: What is Identity Theft https://www.usa.gov/identity-theft Common Types of ID Theft https://www.experian.com/blogs/ask-experian/20-types-of-identity-theft-and-fraud/ Grandma I’m in Jail Fake Phone Calls – https://www.nbcsandiego.com/nbc-7-responds-2/grandma-im-in-jail-scammers-targeting-elderly-san-diegans/3229084/#:~:text=It%20comes%20in%20as%20an,someone%20claiming%20to%20be%20family.&text=The%20scammers'%20game%20is%20to,hospitalized%2C%20arrested%20or%20even%20kidnapped. Fake Microsoft Pop up virus alert – https://www.pcrisk.com/removal-guides/12308-virus-alert-from-microsoft-scam Home Title Theft – https://www.forbes.com/advisor/mortgages/real-estate/home-title-theft/ Get in touch with Don and learn more: https://doncashpodcast.com/

Duration:00:28:29

Get Your House in Order! Why You Need an Estate Plan

9/28/2023
As we move towards the end of the year, we’re looking over checklists for items that need some attention, and while it’s not specific year-end planning, now is a great time to address your estate plan. The fact is only 33% of Americans have an estate plan and only 43% have a will. Those numbers might be shocking, but the reality is many people just aren’t giving this critical piece of planning enough attention. So as you get things in order for the end of the year, let’s spend some time talking about why you need an estate plan. Here’s some of what we discuss in this episode: Links for this episode: Probate - https://trustandwill.com/learn/types-of-non-probate-assets Last Will and Testament – https://www.investopedia.com/terms/l/last-will-and-testament.asp Living Will and Power of Attorney https://www.mchughandmacri.com/blog/2017/02/the-difference-between-a-living-will-and-power-of-attorney/ Percentage of Americans without Estate Plan https://www.aarp.org/money/investing/info-2017/half-of-adults-do-not-have-wills.html https://www.cnbc.com/2022/04/11/67percent-of-americans-have-no-estate-plan-heres-how-to-get-started-on-one.html Spouse disinherited by accident https://nypost.com/2005/01/31/pension-pickle-broke-widower-loses-1m-to-in-law/ Wall Street Journal Article – Estate Planning - https://www.wsj.com/personal-finance/estate-planning-will-money-family-heirs-8f2eb6e8?st=tyfkq2ei0nprc1z&reflink=desktopwebshare_permalink Get in touch with Don and learn more: https://doncashpodcast.com/

Duration:00:31:05

Your Health Span vs Your Life Span

9/7/2023
We are all familiar with the term life span and the concern inflation and social security changes may impact living a long life. Today, we are going to talk about “health span” and what we need to think about as we live longer, and hopefully healthier, in retirement. Here’s some of what we discuss in this episode: Get in touch with Don and learn more: https://doncashpodcast.com/

Duration:00:23:59

Social Security Cost Of Living Changes For 2024 – What Does That Mean For You?

8/24/2023
In this episode, we’re taking a look at the new Social Security cost of living changes for 2024. Join Don and Marc as they decode the Consumer Price Index (CPI) and its impact on Social Security and retirement planning. They uncover the intricate world of CPI categories, from CPI-U to CPI-W, and how they determine Social Security cost of living adjustments. Here are some questions we answer in this episode: Resources for this episode: https://en.wikipedia.org/wiki/Consumer_price_index https://www.bls.gov/cpi/factsheets/common-misconceptions-about-cpi.htm https://www.ssa.gov/oact/cola/latestCOLA.html https://www.bls.gov/opub/hom/cpi/presentation.htm https://www.ssa.gov/oact/cola/colaseries.html https://www.bls.gov/news.release/cpi.t05.htm https://www.investopedia.com/terms/c/chain-linked-cpi.asp#:~:text=Chain%2DWeighted%20CPI%20Example&text=Smith%20buys%20two%20pounds%20of,has%20risen%20to%20%246%20%2F%20lb. https://www.ssa.gov/policy/docs/policybriefs/pb2008-03.html Get in touch with Don and learn more: https://doncashpodcast.com/

Duration:00:23:41

Government Bonds Downgraded – What Does That Mean to Me?

8/10/2023
On August 1, the Fitch Ratings agency downgraded the US debt from its top rating of AAA down a notch to AA+. This is the second time this has happened. Ironically, that was also in August but twelve years again 2011. At that time, the Standard and Poor’s downgraded US treasury debt from AAA to AA+. So why is this happening now and what does it mean to us as we save for and in retirement? Here’s some of what we discuss in this episode: Get in touch with Don and learn more: https://doncashpodcast.com/

Duration:00:23:40

100th Episode Spectacular! Looking Back On Our Prior Shows

7/27/2023
Welcome to our 100th episode of Your Money & Your Life! Today we’re taking a nostalgic look back at the past five years, from personal milestones to macro-economic events, such as the fluctuating real estate market and interest rates. We even rewind to some previous episodes, examining how our predictions on technology's role in investment strategies held up, and discussing the unforeseen impact of COVID-19 on our lives and finances. Here’s some of what we discuss in this episode: Get in touch with Don and learn more: https://doncashpodcast.com/

Duration:00:27:05

Mailbag: Should I Sell The Family Farmland I Inherited? And More

7/6/2023
We’re diving into the listener mailbag for today’s episode! We’ve received some excellent listener questions recently, and we’re going to dive into a few of them on today’s show. Doug asks where he should invest the money from his new raise. Sherry asks if she should lease or sell the family farmland that she inherited from her uncle. Tune in and see what you can learn from these listener questions! Here’s some of what we discuss in this episode: Get in touch with Don and learn more: https://doncashpodcast.com/

Duration:00:25:49

Should I Move to Another State to Save Money on Taxes & Expenses?

6/22/2023
Many retirees bounce around the idea of moving states in retirement with the goal of saving money on taxes and expenses. It makes sense on the surface but will it benefit you as much as you hoped? Today we’ll dive into the numbers, talk through some of the costs that blindside people, and help you better understand what needs to be evaluated before you make the move. Here’s some of what we discuss in this episode: Get in touch with Don and learn more: https://doncashpodcast.com/

Duration:00:31:05

Artificial Intelligence: Should We Be Afraid?

6/8/2023
Join Don and Marc as they dive into the fascinating world of artificial intelligence. Discover the potential risks, benefits, and the ever-expanding reach of AI across various industries. From AI-generated music and artwork to robot-advisors and facial recognition, AI is revolutionizing the way we interact with technology. In this episode, we’ll explore the origins of AI the blurred lines between reality and AI, and ultimately answer the question: should you be worried? Artificial Intelligence or AI, which is something that we are constantly hearing about. We will dive into it and talk about the potential risks as well as the benefits and some land minds to avoid as consumers and also investors in this technology. Here’s some of what we discuss in this episode: Resources mentioned on the show: ChatGPT - https://openai.com/blog/chatgpt Tom Cruise Video - https://www.youtube.com/shorts/l7FH_-GAlz8 Get in touch with Don and learn more: https://doncashpodcast.com/

Duration:00:27:51

The U.S. Debt Ceiling Drama Continues

5/26/2023
We’re back to discuss the ongoing battle over the debt ceiling in this episode. We’ll review recent federal budgets and expenses and compare these numbers to recent history. We’ll also dive into the impact of the COVID-19 relief spending, address some concerns about inflation, and share our thoughts about this situation as a whole. Here’s some of what we discuss in this episode: Get in touch with Don and learn more: https://doncashpodcast.com/

Duration:00:27:17

U.S. Debt Ceiling And Federal Reserve Rate Hikes- Insights For Investors

5/11/2023
In today’s episode, we’re going to dive into the pressing issues of the U.S. debt ceiling and Federal Reserve rate hikes. We’ll begin by unraveling the concept of the federal debt ceiling, examining its history, and shedding light on the federal government's current and prospective spending plans. Ultimately, we’ll discuss what all the recent buzz on this topic might mean for investors and whether there is cause for alarm. Here’s some of what we discuss in this episode: Get in touch with Don and learn more: https://doncashpodcast.com/

Duration:00:26:54

What Is Reinvestment Risk?

4/27/2023
Many of us have heard of typical investment risks, such as market risks, liquidity risks, credit risks, and concentration risks. But what is reinvestment risk? In today’s episode, we’ll explain what reinvestment risk is and how the fear of recent events might be driving this risk. Here’s some of what we discuss in this episode: Get in touch with Don and learn more: https://doncashpodcast.com/

Duration:00:24:38