Your Money & Your Life Podcast

Planning for retirement comes with a flood of questions, some about taxes, others about investments, and often about protecting your family. Today, Don breaks down New Jersey’s new property tax relief program, explains how it bundles multiple programs into one, and shares what you need to know before the October 31st deadline. Don also weighs in on life insurance, when it’s a useful tool for family protection and estate planning, and when it’s just another aggressive sales pitch. Tune in to hear Don's insights on these topics and more in this week's listener question episode! Here’s some of what we discuss in this episode: 🏠 Decoding NJ property tax relief programs 💡 Smart questions to ask before buying life insurance 📈 Turning decades of savings into a retirement strategy 🔑 Why discipline and purpose matter more than timing the market Get in touch with Don and learn more: https://doncashpodcast.com/

Feeling the squeeze of inflation? Even as headlines say it’s “cooling,” prices at the grocery store, restaurants, and on vacation aren’t letting up. In this episode, Don breaks down the paradox retirees face today: interest rates may be dropping, but the cost of living isn’t. Here’s some of what we discuss in this episode: 💸 Why inflation still feels “sticky” even when the government says it’s easing 🏥 How inflation impacts healthcare, drug costs and Medicare premiums 🏠 How the generational divide impacts finances differently for millennials vs. retirees 📉 What lower interest rates mean for your savings and CDs 📊 How diversification, tax planning, and estate strategies can protect your future Get in touch with Don and learn more: https://doncashpodcast.com/

Estate planning rules can be complex and costly if you miss a key step. In this episode, Don explains how recent changes to the estate tax exemption could impact your legacy, and why the term “permanent” in Washington rarely means forever. You’ll learn about the important concept of portability (preserving your late spouse’s unused estate tax exemption) and why filing the right form, even when no tax is owed, can save you millions. Here’s some of what we discuss in this episode: 💰 Understand new estate tax exemption limits 🔄 Learn how portability works (and why deadlines matter) 🏦 Avoid costly filing mistakes that can erase tax savings 📉 Real case: $1.5M lost due to one oversight 📝 Key documents every 18+ year-old should have Wall Street Journal Article: https://www.wsj.com/personal-finance/taxes/estate-taxes-portability-planning-mistakes-26111632?utm_source=chatgpt.com Get in touch with Don and learn more: https://doncashpodcast.com/

This week, we’re back to take a deeper dive into the One Big Beautiful Bill (OBBB). Don breaks down how this sweeping legislation impacts standard deductions, estate taxes, Roth conversions, charitable giving, and more. Tune in to learn why the years 2025–2028 might be your “golden window” for smart, tax-efficient planning, and how to take full advantage of it. Here’s some of what we discuss in this episode: 💸 Extra deduction opportunities after age 65 🏡 Estate tax changes that benefit most retirees 🔁 Strategic Roth conversion window until 2028 💰 Avoiding costly Medicare surcharges 🧾 The hidden costs of becoming a single filer Get in touch with Don and learn more: https://doncashpodcast.com/

A new tax bill has officially passed (you’ve probably heard it mentioned as the “Big Beautiful Bill”). In this episode, Don breaks down what the newly signed bill actually means for retirees, pre-retirees, and anyone planning for their financial future. While the bill made headlines for its timing and optics, the real story lies in the planning opportunities it creates. Don walks through key updates, including the extension of current tax brackets, a higher SALT deduction cap, a new senior bonus deduction, and strategic opportunities for Roth conversions. Here’s some of what we discuss in this episode: 🧾 What “permanent” really means in Washington tax law 📊 Extended tax brackets offer a rare window for low-tax Roth conversions 🧾 SALT deduction cap raised from $10K to $40K 💸 The new $12K “senior deduction” and its impact on Social Security taxes 💰 Estate tax exemption raised to $15M ⏳ Why 2028 could be a critical planning deadline Get in touch with Don and learn more: https://doncashpodcast.com/

There’s a lot happening in the world right now- but quietly moving through Congress and the Senate is a major new tax bill. If passed, it could have a significant impact on retirees, investors, and families with larger estates. In this episode of Your Money and Your Life, Don breaks down the key provisions you need to know. Here’s some of what we discuss in this episode: 📉 Proposed tax breaks for retirees over 65 🧾 Why Social Security is still taxable under the new bill 🏥 Medicaid changes and how they may (or may not) affect long-term care 🏛️ Clearing up confusion on potential estate tax updates 💡Cash Corner: planning moves to protect what you love Resources for this episode: New Jersey’s Estate and Inheritance Tax Episode: https://yourmoneyyourlife.podbean.com/e/the-2025-social-security-increase-new-jersey-triple-tax-benefit/ Get in touch with Don and learn more: https://doncashpodcast.com/

We’ve all heard of FOMO: fear of missing out. But in 2025, a new investor emotion is taking center stage: FOGI, the fear of getting in. After watching market volatility, political headlines, and wild swings in interest rates, many investors are stuck sitting on the sidelines, afraid to buy back in, afraid to buy too late, and most of all, afraid of looking foolish. It’s not just about risk anymore. It’s about regret. In this episode, Don discusses the emotional roadblocks keeping investors frozen, including timing fatigue and media panic cycles. Here’s some of what we discuss in this episode: 🌀 What is FOGI and how it’s different from FOMO 💣 Why timing the market is so tempting… and so damaging 📢 The impact of media noise and headlines 🎯 What smart investors do instead of chasing or fleeing 🔄 Real strategies for getting back in without regret Get in touch with Don and learn more: https://doncashpodcast.com/

In this eye-opening episode, Don and Marc tackle one of retirement’s most overlooked traps: double taxation on retirement income. From after-tax 401k contributions to state tax rules that sneak up on unsuspecting savers, they break down how easily your hard-earned money can get taxed more than once, and what to do about it. Here’s some of what we discuss in this episode: 💰 What “double taxation” actually means ⚠️ How NJ tax rules increase the risk 📉 The 401k rollover mistake that’s easy to make 📋 How Form 8606 helps prevent being taxed twice 📈 Strategies to protect both you and your heirs Get in touch with Don and learn more: https://doncashpodcast.com/

What if taxes on your Social Security benefits disappeared entirely? That’s one of several proposals being floated in Washington, and in this episode, Don and Marc break down what it could mean for retirees. They explain how Social Security benefits became taxable, why outdated income thresholds are causing more people to pay taxes today, and explore the possible reforms being discussed. Here’s some of what we discuss in this episode: 📉 Why more retirees are paying taxes on Social Security 🕰️ How outdated income limits haven’t kept up with inflation 💡 Legal strategies to reduce (or eliminate) Social Security taxes 📊 The "provisional income" formula 💬 State tax considerations for Social Security benefits Get in touch with Don and learn more: https://doncashpodcast.com/

With headlines full of tariffs and political drama, it’s easy to miss a major win for New Jersey homeowners, especially retirees. In this episode of Your Money & Your Life, Don and Marc shine a spotlight on the 2025 NJ property tax relief programs that could save residents thousands of dollars. From the long-standing Property Tax Freeze program to the more recent ANCHOR rebate and the brand-new Stay NJ benefit, the guys break down who qualifies, how the programs work, and what’s changed. Here’s some of what we discuss in this episode: 🧾 NJ’s 3 Key Property Tax Relief Programs 📦 Why NJ is fighting to keep retirees from moving away 🏡 Stay NJ: Up to $6,500 in annual property tax relief 🔍 A few nuances of these property tax programs 📅 Key deadline: PAS-1 form due by October 31, 2025 Get in touch with Don and learn more: https://doncashpodcast.com/

Tariffs, tariffs, tariffs- they’re dominating the headlines. With new tariffs implemented across nearly 90 countries, market volatility has surged, investor anxiety is rising, and confusion is everywhere. Don brings clarity to the chaos by explaining what tariffs actually are, who really pays them, and why the market is reacting the way it is. Here’s some of what we discuss in this episode: 📦 What tariffs are and who’s really footing the bill 📉 How markets are reacting to tariff headlines 🔍 The inflation impact (and media spin) 📊 Why diversification still wins in volatile markets 🔁 Historical lessons from past downturns Get in touch with Don and learn more: https://doncashpodcast.com/

Today we’re piggybacking off last episode’s conversation about market volatility and the emotion that sets in for investors. Is this time different than market corrections of years past? People feel inclined to panic during turbulent times, so Don will explore that fear by breaking down what’s actually happening, investor fears, and what history can teach us about managing uncertainty. Here’s some of what we discuss in this episode: 📉 Market corrections are normal—how should you handle the headlines? 💡 Reversion to the mean explains why recent big gains may not last 📊 How today’s market reminds Don of the late 90s/early 200s. 📈 Diversified portfolios historically weather volatility better 🧠 The key to confidence is having a plan—and sticking to it Get in touch with Don and learn more: https://doncashpodcast.com/

In this episode, Don Cash tackles the pressing question on everyone’s mind: Should we panic about recent market drops? With the stock market experiencing sharp fluctuations and fears of a recession looming, he breaks down the economic landscape and provides a clear perspective on what really matters for investors. 💰 Don covers inflation to the "Magnificent 7" stocks—including the dangers of market concentration and why diversification is key. He also introduces a powerful storm analogy to illustrate how many investors live on an "Island of Complacency", ignoring risks until disaster strikes. Here’s what we discuss in this episode: 🔄 The cyclical nature of market corrections – Why they happen & how to stay calm ⚠️ Understanding investment risks – The downside of putting too much in one place 📰 How media hype affects investor psychology – Separating fear from reality 📊 Why diversification matters – A balanced portfolio can mean fewer sleepless nights 🌪️ The “Island of Complacency” analogy – What happens when risk is ignored Get in touch with Don and learn more: https://doncashpodcast.com/

In this episode, Don and Marc explore smart tax moves to consider before the April 15th deadline. They focus on ways to take advantage of accounts like IRAs and HSAs, as well as important deductions that often go overlooked. The conversation highlights opportunities to maximize savings for the 2024 tax year, covering everything from retirement contributions to charitable donations. They also explore how certain tax moves can help you minimize your taxable income, whether you're self-employed or planning for retirement. This episode offers practical tips for anyone looking to make the most of their tax situation before filing. Here’s some of what we discuss in this episode: Resources for this episode: HSA accounts – https://www.irs.gov/publications/p969 1099 forms – https://www.kiplinger.com/retirement/tax-forms-retirees-receive-and-what-they-mean Wall Street Journal Article on 2024 Tax Planning – https://www.wsj.com/personal-finance/retirement/retirement-taxes-contributions-withdrawals-guide-bc308053?st=MNY85o&reflink=desktopwebshare_permalink Get in touch with Don and learn more: https://doncashpodcast.com/

We knew this year would bring plenty to talk about, and so far, it's certainly living up to that expectation. In this episode, Don and Marc dive into the key economic issues making headlines: government spending, tariffs, and the DOGE (Department of Government Efficiency). With a new administration in office, they break down important economic indicators like inflation and employment, and discuss how tariffs impact both inflation and global trade. They also take a closer look at the history of tariffs, their economic effects, and why the Federal Reserve has decided to keep interest rates steady. The conversation also covers the DOGE initiative, led by Elon Musk, the tensions surrounding the project, and the growing federal deficit and what it means for taxpayers. Tune in for a timely and thought-provoking conversation today! Here’s some of what we discuss in this episode: Resources for this episode: The US Debt Clock https://www.usdebtclock.org/ Get in touch with Don and learn more: https://doncashpodcast.com/

Just this month, Los Angeles was ravaged by unprecedented, devastating wildfires. These catastrophic events have left thousands of homeowners grappling with total losses, denied claims, underinsurance, and unexpected coverage gaps. In the wake of these tragedies, it’s important to ask: Could this happen to you? Are you truly covered, or do you just think you are? Here’s some of what we discuss in this episode: Get in touch with Don and learn more: https://doncashpodcast.com/

Happy 2025! It’s hard to believe that 25 years have passed since the world braced itself for the so-called “Millennium Bug.” For those old enough to remember, it was a time filled with fear, speculation, and intense efforts to prevent potential chaos. This week, Don and Marc explore the parallels between then and now and reflect on the lessons learned from that era of uncertainty. Here’s some of what we discuss in this episode: Get in touch with Don and learn more: https://doncashpodcast.com/

As the holiday season approaches, many of us find ourselves gathering with loved ones, sharing stories, laughter, and sometimes, unexpected topics. In this holiday edition of the show, Don brings a fascinating mix of cheer and wisdom to the table by helping you with three vital financial conversations you can have with loved ones this holiday season. Here’s some of what we discuss in this episode: Get in touch with Don and learn more: https://doncashpodcast.com/

December is here, so in this episode, Don and Marc take a moment to look ahead at what changes may be coming in 2025, particularly when it comes to IRA planning and potential tax shifts. Listen in as they break down the key factors to consider when deciding whether to convert your traditional IRA to a Roth IRA, including tax rates, the timing of your conversion, and how it fits into your overall retirement strategy. Throughout the conversation, Don shares some practical examples, such as how retired couples or those nearing retirement can benefit from converting at today’s lower tax rates. The episode also covers important considerations like Medicare premiums and the potential for future changes to Social Security taxation. Here’s some of what we discuss in this episode: Get in touch with Don and learn more: https://doncashpodcast.com/

After months of political debates and campaign ads, the election season has finally come to a close. While some of our clients are celebrating the results, others are feeling disappointed. However, the reality is that many of the key financial issues we faced before remain unchanged. Taxes, investing, Medicare, long-term care, estate planning—these are the areas we’ll continue navigating regardless of the election outcome. In today’s episode, we’re going to discuss what we might expect now that the Republicans have secured control of the Senate and likely the House of Representatives. We’ll also dive into tax and planning considerations in the wake of the election and explore what lies ahead. Here’s some of what we discuss in this episode: Links for today's show Federal Tax Rates – https://taxfoundation.org/data/all/federal/2024-tax-brackets/ The SALT Deduction – https://suozzi.house.gov/media/in-the-news/trump-signals-hed-restore-full-salt-deduction-democrats-are-skeptical https://www.cnbc.com/2021/11/19/house-democrats-pass-package-with-80000-salt-cap-through-2030.html Taxation of Social Security Benefits – https://taxfoundation.org/blog/social-security-benefits-tax-inflation/ The Social Security Trust Fund and Future Cuts- https://www.ssa.gov/policy/docs/ssb/v70n3/v70n3p111.html The Debt Clock – https://www.usdebtclock.org/ Get in touch with Don and learn more: https://doncashpodcast.com/