Creating Wealth: Recent Episodes
Bill Taber and Anastasia Taber, CFP®
Creating Wealth brings you information and clarity to the world of investing and personal finance with your hosts, Anastasia Taber, CERTIFIED FINANCIAL PLANNER™, and Bill Taber, an investment advisor with over 40 years experience. The father-daughter pair answers your questions on how to invest, the psychological mindset it takes to create wealth, and dissects what you need to know about emerging financial trends.
What should you actually be teaching your teenager about money and when? In this episode of Finerate, CFP® Anastasia Taber and 45-year investment advisor Bill Taber tackle the real, practical money conversations parents should be having with 13-17 year olds, drawing on Bill's firsthand experience raising four financially independent adult children.
Anastasia and Bill break down the specific financial "firsts" worth being intentional about, from a teen's first job to their first credit-building move, along with the most common mistake parents make when talking to teenagers about money, and when to adjust your approach based on personality. They also cover Trump Accounts, the new federal child savings account that launched in July 2026, and how it stacks up against a Roth IRA or 529 plans.
In this episode, you'll learn:
- The financial "firsts" every teenager should experience before leaving home
- What Trump Accounts are, how they work, and whether they're actually a good fit for a working teen compared to a Roth IRA or 529 plan
- The most common mistake parents make when talking to teenagers about money and how to adjust your approach based on your teen's motivation style
- Why financial knowledge alone doesn't build financial confidence and what actually does
Whether you're the parent of a teenager, planning ahead for one, or curious about what real financial preparation for young adults should look like, this episode offers grounded, experience-based guidance from two financial professionals; one who's done it in his own family, four times over.
Finerate is a financial education community helping people move from financial anxiety to financial confidence. Join the waitlist at getfinerate.com.
Why are so many young investors choosing meme stocks, options trading, and crypto over traditional saving and investing? In this episode of Finerate, CFP® Anastasia Taber and 45-year investment advisor Bill Taber break down the psychology and economics behind the rise of high-risk retail trading and what it says about the state of financial confidence today.
A growing share of investors under 35 say they need to take big financial risks to reach their goals. Anastasia and Bill dig into why: rising home prices, wealth inequality, and a feeling that the slow, steady path - save consistently, invest patiently, wait decades - no longer guarantees the future it once did. Bill shares his read on strategies like buying call options on large-cap stocks, and reflects on how "paying tuition" for a hard lesson in the markets means something very different for a disciplined long-term investor than it does for someone chasing a quick win.
In this episode, you'll learn:
- Why more investors are embracing high-risk trading strategies instead of traditional investing
- How options trading actually works and what the real odds of success look like
- Whether Gen Z and millennials are falling behind financially versus feeling that way early on
- Why access to zero-commission trading apps changed retail investing forever
- How the housing affordability crisis is connected to rising financial risk-taking
- What separates destructive risk-taking from productive risk-taking
- What a healthier alternative to "swinging big" looks like
If you're curious about the meme-stock economy, wondering if you're behind on your own financial goals, or just want a grounded take on why so many people are gambling on their financial future, this episode offers real perspective from two financial professionals who've seen market cycles come and go.
Finerate is a financial education community helping people move from financial anxiety to financial confidence.
Join the waitlist at getfinerate.com.
Resources:
Gen Z Traders Go For Broke in Pursuit Of A New American Dream
Related Episodes:
Is Investing in the Stock Market the Same as Gambling?
What Really Makes Us Happy? Insights from Yale's Science of Well-Being, Part One
After six years and 163 episodes of Creating Wealth, we're turning the page.
This is the episode where we tell you what we're building, why now, and what drove each of us to take this step. Because Finerate came from something we kept seeing and haven't stopped thinking about.
Anastasia has spent years watching the financial planning industry concentrate its resources on high net worth families. But what about the people who are earlier in their journey, who are trying to figure it out, who know they should be doing something with their money, but don't have a clear path to professional guidance? They've largely been left out. Finerate is their answer to that gap.
Bill has spent 45 years in the room for conversations about money that most people never get to have, watching what separates the people who build financial security from those who don't, and wanting to give that knowledge to the people who need it.
Together, we're building Finerate: A financial education community for people who are ready to act. Not just another place to get financial information, but a place to close the gap between knowing and doing.
In this episode:
- Why we started Creating Wealth in April 2020 and what six years of conversations with listeners taught us about what people actually need
- The gap in the financial planning industry that motivated us to build something new
- What Bill has witnessed across four decades of advising that drives his conviction
- What Finerate actually is, including what the name means and who it's for
- Why this has to be a community and not just content
- The one question to ask yourself if you're trying to figure out whether Finerate is for you
- How to join from the very beginning and help shape what this becomes
If you've been listening to Creating Wealth and wondering what's next: This is it.
And if you're new here, this is actually a perfect place to start.
Join the Finerate waitlist at getfinerate.com
Finerate is the home of the podcast formerly known as Creating Wealth. Hosted by Anastasia Taber, CFP®, and her father Bill Taber, a 45 year investment advisor. New episodes every other Friday.
If you haven't heard Part 1 yet, start there first.
Part 1 laid out what's happening and named some truly wild predictions. Part 2 answers the question that actually matters: given all of that, what do you do?
With your money. With your career. With your mindset. And with the fear that many people feel right now.
In this episode:
- One prominent thinker predicted we're heading toward an "emotional pandemic" driven by the pace of AI change. Not a technological failure, but an emotional one.
- The United States is the most pessimistic country about AI. What does that tell us, and is the fear proportionate to the actual risk?
- If your income is less certain and your career is harder to predict, do the fundamentals of financial planning actually change or do the old principles hold?
- 55% of Americans now use AI to help manage their finances, up from 10% just a year ago. How good is that advice and what are the risks most people aren't thinking about? The research on this is more surprising than you'd expect
- The traits that matter most in an AI-disrupted world and what it means financially to invest in yourself right now
- Our honest gut reactions to where all of this is heading. Not the CFP® answer or the advisor answer, the human one
- The one thing each of us would tell you to do differently this week because of everything we discussed across both episodes
Finally, we're thrilled to announce that we are building Finerate: a financial education community for people who are ready to move from financial anxiety to financial confidence. Join the waitlist at getfinerate.com.
Check out our previous episodes on AI:
AI in 2025: What's New, What's Next, and What It Means for You, Part One
AI in 2025: What's New, What's Next, and What It Means for You, Part Two
2024 - Navigating the AI Revolution: Insights for Investors and Workers, Part One
2024 - Navigating the AI Revolution: Insights for Investors and Workers, Part Two
2023 - Are You Prepared for the AI Revolution?
We do this once a year: a dedicated episode on artificial intelligence and what it means for your financial life. And every year, the material is big enough for a two-parter.
Part 1 is the orientation: what's happening with AI right now, our honest reactions to some crazy predictions, and our biggest takeaways for adapting to these turbulent times.
We're not AI experts. We're a CFP® and a 40+ year investment advisor making sense of what we're seeing through the lens of our work, our experiences, and our long-term approach.
In this episode:
- What each of us has noticed in our daily lives over the last 12 months
- Why this technological moment feels different from any change that has come before it
- The predictions being made by those closest to the technology
- Why one prominent CEO says we're in the "hard takeoff" right now and wakes up to an AI breakthrough every morning, and how to evaluate a claim like that without either dismissing it or panicking
- The counternarrative: the more measured voices pushing back on the extreme predictions, and what approach to take
- What the mind-boggling investment numbers and record-breaking IPOs say about where we are in the cycle
Part 2 covers your money, your career, your mindset, and what to actually do. Subscribe on Apple Podcasts or Spotify so it lands directly in your feed in two weeks.
Check out our previous episodes on AI:
AI in 2025: What's New, What's Next, and What It Means for You, Part One
AI in 2025: What's New, What's Next, and What It Means for You, Part Two
2024 - Navigating the AI Revolution: Insights for Investors and Workers, Part One
2024 - Navigating the AI Revolution: Insights for Investors and Workers, Part Two
2023 - Are You Prepared for the AI Revolution?
We're bringing this one back, because the problem it covers is even more relevant in today's environment.
Social comparison has always been part of human nature. But financial social comparison in 2026 is a different beast. TikTok has entire subcultures built around money. Algorithms are engineered to show you exactly what makes you feel behind. The explosion of AI generated content will make the problem worse, not better.
This influences more people to make financial decisions based on what they think others are doing, without considering the consequences.
In this episode, Anastasia and Bill dig into the psychology and financial reality behind social comparison:
- How common is it for Millennials and Gen Z to compare their financial situations?
- What are some negative effects to comparing your finances to others?
- What strategies can you use to avoid comparison?
- Are there benefits to discussing finances with friends, or should you keep it confidential?
- What really matters when it comes to building your own version of financial success
Originally recorded in 2024 and more relevant than ever.
Creating Wealth is hosted by Anastasia Taber, CFP®, and her father Bill Taber, a 40+ year investment advisor. New episodes every other Friday.
One in three Americans plans to start a side hustle or business in 2026. Most of the conversation around that number is about how to do it. Few conversations are about whether you're ready and what to do with the money when it starts coming in.
That's this episode.
They cover:
- What's actually driving the side hustle surge: ambition versus necessity
- The financial readiness checklist before you start
- The order of operations when you start receiving consistent side hustle income
- The self-employment tax surprise that blindsides many first-timers
- Why building a side hustle around what you genuinely want to offer beats chasing trends
- Whether 2026 with its slow hiring market, AI disruption, economic uncertainty, is actually a good time to start something new
If you're sitting on an idea, already running something informally, or wondering whether the timing is finally right, this one is for you.
Remember to subscribe, leave a review, and share this episode with someone who could benefit.
Creating Wealth is hosted by Anastasia Taber, CFP®, and her father Bill Taber, a 40+ year investment advisor. New episodes every other Friday.
The S&P 500 is near record highs. So why does your financial life still feel uncertain?
In this episode, Anastasia and Bill tackle the disconnect that a lot of people are feeling in this moment where markets are up, hiring is slow, costs are still high, and a general sense that the headline numbers don't match what's happening on the ground.
In this episode, we cover:
- Why the gap between what markets are doing and what households are experiencing is real and what it means for your decisions
- Bill and Anastasia's revised emergency funds number
- How to guard against your own protective instincts
- Why millennials have been conditioned to buy the dip, and why that assumption deserves a second look
- What Bill and Anastasia both believe will define the people who look back on this economic moment and say they made it through stronger
This is about laying the financial foundation that makes you okay regardless of what the headlines say.
Creating Wealth is hosted by Anastasia Taber, CFP®, and her father Bill Taber, a 40-year investment advisor. New episodes every other Friday.
What does Star Wars have to do with building wealth? More than you'd think.
In this episode, Anastasia introduces Bill to the core framework from James Clear's bestselling Atomic Habits: An Easy & Proven Way to Build Good Habits & Break Bad Ones. This wide-ranging conversation connects several threads like Daoism, Newton's First Law, and what Yoda would say, to help you establish your best financial habits.
- Bill shares three real patterns he has seen across 40+ years of working with clients and the small mistakes that can quietly derail wealth building over time.
- Why "I am someone who builds wealth" is fundamentally different from "I want to save more money" and the ancient philosophy behind it.
- Anastasia and Bill disagree on what they have seen when it comes to money beliefs.
- The specific moment when people damage the compounding curve without fully understanding what they've lost.
- The single financial habit Bill recommends above almost everything else and the small salary move Anastasia says will compound your wealth.
- Why starting is the hardest part, what a gym story about 100 lbs has to do with your savings account, and what Social Security and AI have to do with urgency right now.
Listen in to learn how Atomic Habits by James Clear applies to your financial life.
Creating Wealth is hosted by Anastasia Taber, CFP®, and her father Bill Taber, a 40-year investment advisor. New episodes every other Friday.
Fair warning: this one is a little different.
Every April Fools Day, Anastasia and Bill take a break from their regularly scheduled financial wisdom to do something a little silly, and this year is no exception. In today's episode, they take a "deep dive" on cryptocurrency, unpacking blockchain technology, decentralization, volatility, peer-to-peer transactions, and the importance of planning for your ultimate long-term investment.
Yes, that one.
If you make it to the end without groaning at least once, we'll be genuinely impressed.
Six years in, and this might be our favorite tradition. Thank you for being part of it.
What if the biggest obstacle to building wealth isn't what you know, but what you believe?
This is one of our most downloaded episodes ever, and we're bringing it back because three years later, it's more relevant than ever. In this conversation, Anastasia and Bill break down the four money beliefs, also called money scripts, that most of us picked up in childhood, long before we had any real experience with money. Because they formed so early, most people don't even know they have them.
They cover:
- Money avoidance: the belief that money is bad, that you don't deserve it, or that good people shouldn't want it
- Money worship: the belief that more money will solve everything, leading to chronic overspending or overworking
- Money status: tying your self-worth to your net worth, and what that quietly does to your financial decisions
- Money vigilance: the anxious, secretive relationship with money that can lead to under-spending even when you can afford more
Understanding which of these scripts is running in the background of your financial life is the first step to changing it, and this episode will help you figure out exactly that.
Originally released March 3, 2023. Re-released because some conversations are worth having twice.
Creating Wealth is hosted by Anastasia Taber, CFP®, and her father Bill Taber, a 40+ year investment advisor. New episodes every other Friday.
What if the best financial advice ever written came from ancient Babylon and was published exactly 100 years ago?
In this episode, Anastasia and Bill walk through the seven money principles from George S. Clason's classic The Richest Man in Babylon and break down why every single one of them still holds up in 2026. Bill has had his own handwritten notes from this book for decades, and today he brings them to the conversation.
They cover:
- Pay yourself first — why 10% before anything else is the non-negotiable foundation of wealth, and what actually gets in the way
- Control your expenditures — the difference between what you need, what you want, and what you think you're supposed to have
- Make your money multiply — what compounding actually looks like over a lifetime, and where to start if you feel like you have nothing to invest
- Guard your money from loss — what Clason called "romantic desires in investment," and what that looks like today (hint: you've seen it on social media)
- Own your home, insure your future income, and increase your ability to earn — which of these three is the most underrated in 2026, and why Anastasia and Bill don't agree
They also explore a bigger question: Did George Clason understand the psychology of money before behavioral finance was even a field?
Whether you've read the book or never heard of it, this episode will leave you with at least one principle you can act on this week.
Enjoyed this episode? Subscribe on Apple Podcasts or Spotify, and share it with someone in your life who needs to hear it: a friend who's been putting off their finances, a young adult just getting started, or anyone who could use a reset on how they think about money.
How often should you rebalance your investment portfolio?
If you Google this question, you'll find the standard answer: quarterly or annually. But what if that advice doesn't fit YOUR situation?
In this episode, father-daughter advisor team Bill and Anastasia Taber tackle the rebalancing debate:
Questions answered:
✓ What is portfolio rebalancing and why does it matter?
✓ Why do passive investors rebalance on a calendar schedule?
✓ What does academic research say about rebalancing benefits?
✓ When should you break the quarterly rebalancing rule?
✓ How do taxes change your rebalancing strategy?
✓ Should you rebalance differently in your 401(k) vs. taxable account?
✓ What's the difference between rebalancing for passive vs. active investors?
The surprising truth: Without rebalancing, a 60/40 portfolio can drift to 80%+ stocks, creating way more risk than you intended. But rigid calendar-based rebalancing isn't the only solution. And for some investors, it's not even the best one.
Anastasia (CERTIFIED FINANCIAL PLANNER™) and Bill (40+ years managing client money) explain why they don't follow conventional rebalancing advice, share real examples of when calendar rebalancing hurts returns, and reveal the tax implications many investors miss.
Your takeaway: A clear framework for deciding how often YOU should rebalance based on your investment style, tax situation, and time horizon.
Perfect for DIY investors, those working with advisors, or anyone trying to build a smarter investment strategy.
Subscribe for behavioral finance insights and practical financial tips. New episodes every other Friday.
Bitcoin dropped from all-time highs. AI agents are making headlines. Ray Dalio is warning about a once-in-a-generation debt cycle. So what should you actually do with your money right now?
In this episode, we cut through the noise to help millennials navigate today's volatile markets. We break down what's really happening with crypto, investor sentiment, and the AI revolution, and why the fundamentals of wealth building matter more during uncertainty, not less.
Here's what we cover:
- Why investor sentiment above 70% is a historical warning sign
- Ray Dalio's Big Cycle Framework and what Stage 5 means for your money
- The AI boom: Separating what's interesting vs. what's actually actionable for your portfolio
- How to handle FOMO around AI stocks and crypto
- We end with an action plan to protect your financial future
Whether you're wondering if you should sell everything, go to cash, or YOLO into AI stocks, this episode gives you the perspective and discipline to stay the course when headlines are screaming at you to panic.
Boring works. Boring wins. And this episode explains why.
Remember to subscribe, leave a review, and share this episode with someone who could benefit. For future podcast topics, you can email us at askcreatingwealth@taberasset.com.
Related Episodes
What History Teaches Us About the Future of the U.S. Economy
Regulating Emotions During Jumpy Markets: A Re-Release
Is Investing in the Stock Market the Same as Gambling?
Why do lottery winners often end up broke within three years? Why do you suddenly face an unexpected car repair the moment you get a raise?
It's not bad luck—it's your Money Blueprint.
In this episode, we dive deep into the psychology of wealth with a breakdown of T. Harv Eker's classic book, Secrets of the Millionaire Mind. We explore the groundbreaking premise that financial success is 80% psychology and only 20% mechanics. You can know everything about stocks and real estate, but if your internal "financial thermostat" is set to "struggle," you will subconsciously sabotage your own growth.
In this episode, we cover:
- The "Financial Thermostat": Why you are subconsciously programmed to earn a specific amount of money (and how to reset it higher).
- Interest vs. Commitment: The difference between "wanting" to be rich and doing what is required.
- The 5 Wealth Files: The specific mindset shifts millennials need to make, including:
- Victim vs. Creator: Stopping the blame game to take 100% responsibility.
- Offense vs. Defense: Why playing "not to lose" keeps you stuck in the middle class.
- Net Worth vs. Working Income: Why high earners often have low wealth.
- The Rewiring Process: A practical 5-step system (Awareness, Understanding, Disassociation, Declaration, Action) to uninstall your limiting beliefs.
- The 7-Day Challenge: How to use physical declarations to change your internal programming this week.
If you feel like you are working hard but staying in the same financial place, this episode will show you how to stop fighting your results and start changing your roots. Remember to subscribe, leave a review, and share this episode with someone who could benefit. For future podcast topics, you can email us at askcreatingwealth@taberasset.com.
Is your New Year's resolution to "spend less"? We think you can do better. In this episode, we ditch the restrictive "financial diet" mentality and focus on a Value-Based Audit for 2026.
Budgeting isn't just about math; it's about alignment. We share our personal year-end spending reviews (the good, the bad, and the surprising) and introduce a new framework to help you design a budget that funds your "Future Self" rather than your past habits.
In this episode, we cover:
- The Personal Audit: What we learned from our own spending in 2025.
- Keep, Kill, Pivot: A 3-step framework to audit your expenses without the guilt.
- The "Million-Mile Mindset": Why driving your car into the ground is the ultimate "Creating Wealth" hack.
- The "Grace Clause": Why most January budgets fail by February, and what system you need to stay on track when life happens.
- Spending Truisms: Why "what gets measured, gets managed" is still the golden rule of personal finance.
Whether you are looking to pay off debt or simply align your spending with your values, this episode is full of specific advice and wisdom to help you have a successful financial year ahead.
Don't forget to subscribe, leave a review, and share this episode with someone who could benefit. For future podcast topics, you can email us at askcreatingwealth@taberasset.com.
Are you "bad with money," or are you just exhausted?
If your brain feels like a browser with 100 tabs open, you are likely carrying a heavy mental load. While we often talk about mental load regarding chores or parenting, there is a Financial Mental Load, the invisible worry, planning, and remembering, that is silently sabotaging your bank account.
In this episode, we explore why burnout is not just an emotional issue; it is a financial one. We break down why smart, capable professionals struggle to stick to a budget and how decision fatigue leads to expensive impulse buys and "convenience costs."
In this episode, you will learn:
- The "Bandwidth Tax": Why having a full to-do list literally lowers your financial IQ and leads to poor money decisions.
- The "Ostrich Effect": Why we ignore our bank accounts when we are stressed and how to break the cycle of avoidance.
- Revenge Bedtime Procrastination: The psychology behind why we stay up late shopping online to regain a sense of control.
- The "Financial Uniform": How to reduce decision fatigue by standardizing your money choices.
- Systems Over Willpower: Tools to automate your finances so they work even when you are running on empty.
Stop beating yourself up for being tired. Tune in to learn how to lower your mental load and build a financial system that supports you, rather than drains you.
Listen now and don't forget to subscribe, share, or leave a review to help others discover tools for financial growth and emotional well-being. For future podcast topics, you can email us at askcreatingwealth@taberasset.com.
It's our favorite tradition of the year! In this special holiday episode, we step away from the spreadsheets and stock charts to focus on the "mental game" of money: Gratitude.
We believe that an Abundance Mindset is critical for financial success. When you appreciate what you have, you make better spending decisions, feel less financial stress, and build wealth from a place of confidence rather than fear.
Today, we are reading anonymous messages from our listeners, friends, and family sharing their wins, reflections, and moments of thanks from 2025. From big financial milestones to the quiet moments that matter most, these stories define what it truly means to be wealthy.
In this episode, we celebrate:
- Real-life stories of resilience and growth from the Creating Wealth community.
- A list of questions that help you incorporate the process of gratitude into your life.
- Why reflection is the most important step in year-end financial planning.
Listen now and don't forget to subscribe, share, or leave a review to help others discover tools for financial growth and emotional well-being. For future podcast topics, you can email us at askcreatingwealth@taberasset.com.
Don't let your emotions and 'mental shortcuts' sabotage your financial future. This is the essential deep-dive into the Invisible Costs of Cognitive Biases and the behavioral finance secrets that cost millennials thousands in lost savings and poor investing decisions.
If you know the basics of personal finance but still struggle with execution, this episode is for you. We move beyond "Behavioral Finance 101" to uncover the sneaky biases that drain your net worth without you realizing it.
In this episode, you will learn:
- Restraint Bias: Why relying on "willpower" is the most expensive financial strategy you have, and how to fix it.
- How the power of inertia (Status Quo Bias) is costing you
- How Recency Bias and Social Proof are destroying long-term asset allocation and distorting your sense of "enough."
- Mental Accounting: How 'bucketing' affects your total wealth-building.
- The Anti-Bias Toolkit: Actionable defense mechanisms like the Ulysses Contract, Friction Design, and automating your finances to defeat Decision Fatigue.
Your financial plan is only as strong as your psychology. Tune in and learn how to recognize and neutralize these unconscious errors to make clearer, more grounded money decisions starting today.
Special Note: It's that time of year again! We are about to record our annual gratitude episode which we've done every year since we began the podcast, and we need YOUR messages. We find it's a wonderful way to end the year and remind ourselves of what truly matters. If you've never submitted a message before, we highly encourage you to send us one this year. If you've submitted one in the past, we'd love to hear an update on how your last year has gone. You can send them to us on our social media, by PMing Anastasia or by emailing us at askcreatingwealth@taberasset.com. Please submit them as soon as possible – by Friday December 12th. We can't wait to hear from you!
PM Anastasia on LinkedIn
Related Episodes:
Behavioral Finance 101
How to Manage Your 401(k)
5 Ways to Limit Lifestyle Creep
Artificial intelligence is evolving at lightning speed, but how do you separate innovation from the hype? And what does any of this mean for your daily life, your privacy, and your investment decisions?
In this episode, we break down the biggest AI breakthroughs since our last update and explore how everyday people can use chatbots without feeling overwhelmed. We cover simple AI use cases, the strategies that make AI far more powerful, and the biggest risks to watch out for when using AI casually, especially around privacy and financial tools.
We also dig into the headlines about AI stocks, sky-high valuations, and whether we're entering bubble territory…or just seeing noise. You'll learn what's trustworthy, what's exaggerated, and how to stay grounded when markets get loud.
We discuss:
The most important AI breakthroughs since our last update:
-AI's current "superpower"
-Practical ways to use chatbots in daily life
-Frameworks for going beyond basic prompts
-The biggest risks of using AI casually (and how to avoid them)
-How to tell whether AI-powered financial tools are trustworthy
-What to know about privacy when using chatbots or AI assistants
-Whether AI stocks are entering bubble territory: what's valid and what's noise
If you're curious about using AI to improve your life and want to understand today's market environment, this episode will ground you in what matters most.
For questions, comments, or feedback, email us at askcreatingwealth@taberasset.com. Be sure to subscribe and leave a review to stay updated on future episodes.
Related Episodes
May 2025 AI Update, Part One
May 2025 AI Update, Part Two
2024 - Navigating the AI Revolution: Insights for Investors and Workers, Part One
2024 - Navigating the AI Revolution: Insights for Investors and Workers, Part Two
2023 - Are You Prepared for the AI Revolution?
What if the biggest barrier to financial success isn't your income, but your mindset?
In this episode, we sit down with John Longhill, a certified NeuroChange Solutions consultant who teaches Dr. Joe Dispenza's Change Your Mind – Create New Results program. John helps people understand the neuroscience behind their thoughts, how past experiences and subconscious patterns shape their financial behaviors, and how to rewire the brain for confidence, clarity, and abundance.
We explore how to break free from scarcity thinking, overcome limiting beliefs about money, and create lasting change through intentional mindset shifts. Whether you've struggled with fear of not having enough, guilt about spending, or constant financial comparison, this conversation will help you take steps toward a healthier, more empowered relationship with money.
In this episode, you'll learn:
-What it really means to "change your mind" (and why it matters)
-The neuroscience behind scarcity vs. abundance thinking
-How to retrain your brain for success and financial confidence
-Simple, science-backed strategies to sustain mindset shifts long-term
If you're ready to stop feeling stuck and start thinking differently about your potential, this episode is for you.
Listen now and don't forget to subscribe, share, or leave a review to help others discover tools for financial growth and emotional well-being. For future podcast topics, you can email us at askcreatingwealth@taberasset.com.
Resources:
Contact John Longhill
The U.S. national debt has surged to record highs, crossing $38 trillion and counting. What does that really mean for the U.S. economy and our financial future? In this episode, we revisit the topic of America's debt since our discussions in 2020 and 2023 and explore how we got here, what potential solutions exist, and most importantly, what you can do about it.
You'll come away with a clear understanding of how America's debt story impacts your own financial picture, and one simple takeaway you can apply today.
Don't forget to subscribe, leave a review, and share this episode with someone who could benefit. For future podcast topics, you can email us at askcreatingwealth@taberasset.com.
Related episodes:
Why Social Security Matters for Millennials and Gen Z
How Rising U.S. Debt Affects You - 2023 episode
National Debt - 2020 episode
Science of Well-Being episode, part one
Science of Well-Being episode, part two
The Psychology of Spending: What Actually Makes Us Happier?
Alternative investments (also known as “alts”) are gaining traction with investors who want to go beyond the traditional 60/40 portfolio. But what exactly are they? And are they a good fit for your financial goals?
In this episode, we break down everything you need to know about alternative investments. We’ll explain what qualifies as an alt, how they differ from stocks and bonds, and why they’ve become more popular and accessible in recent years. You’ll also learn about different types of alts, from real estate and private equity to cryptocurrencies and collectibles, and the potential benefits and risks of adding them to your portfolio.
We’ll walk through:
- What counts as an alternative investment
- How alts are different from traditional assets
- Real estate, hedge funds, private equity, crypto, collectibles, and more
- Why some investors use alts to hedge against inflation and diversify
- Risks to watch out for: liquidity, fees, complexity, and lock-up periods
- Who alts are best suited for, and what questions to ask before investing
If you're curious about alts, this episode will help you make smarter, more informed decisions.
Don't forget to subscribe, leave a review, and share this episode with someone who could benefit. For future podcast topics, you can email us at askcreatingwealth@taberasset.com.
In this episode, we sit down with Jenny Groberg, founder and CEO of BookSmarts Accounting, to talk about what it really means to feel confident with your finances. Jenny brings both strategic know-how and real-life perspective as a CEO, financial educator, and mom of five.
We discuss how personal and business finances differ (and why it matters), how AI is transforming bookkeeping and accounting, and what financial habits truly build long-term success. Jenny also shares empowering advice for women and younger professionals who want to feel more in control of their money, plus one common financial myth she wishes everyone would leave behind.
Don’t forget to subscribe, leave a review, and share this episode with someone who could benefit. For future podcast topics, you can email us at askcreatingwealth@taberasset.com.
Jenny's company: BookSmarts Accounting & Bookkeeping BookSmarts Instagram: @Booksmartspro Jenny's Instagram: @thejennygroberg
Are you still helping your adult children financially while also trying to plan for your own retirement? You’re not alone. A recent AARP survey found that 75% of parents with adult children provide some financial support, often averaging more than $7,000 a year.
In this episode, we explore how today’s financial landscape is shifting parenthood later into life and what that means for your long-term financial well-being.
We’ll talk about:
- Why more parents are supporting adult kids longer
- What conversations you should be having with your children
- How to evaluate what’s help and what’s enabling
- What you should do if you are supporting your adult children financially
- How to foster financial independence
If you have adult children, will soon have adult children, or are someone receiving parental support yourself, this episode will help you understand balancing love with financial responsibility and long-term planning.
Don’t forget to subscribe, leave a review, and share this episode with someone who could benefit. For future podcast topics, you can email us at askcreatingwealth@taberasset.com.
Is America on the decline, and what does that mean for your financial future?
In this thought-provoking episode, we unpack key ideas from billionaire investor Ray Dalio’s Principles for Dealing with The Changing World Order: Why Nations Succeed and Fail and explore how rising global powers, growing debt, and historical cycles could reshape the economy in the years ahead.
We break down the indicators Dalio uses to measure a nation's strength and examine how the U.S. stacks up today. We also explore what it means if the U.S. loses its reserve currency status, and how everyday investors can protect their wealth through diversification, hard assets, and financial resilience.
Whether you're curious about global economics or just want to better prepare for the future, this episode offers practical insights inspired by one of the world's most respected financial minds.
Don’t forget to subscribe, leave a review, and share this episode with someone who wants to stay ahead of economic changes. For future podcast topics, you can email us at askcreatingwealth@taberasset.com.
What’s the One Big Beautiful Bill Act and why is it making U.S. headlines? In this episode, we break down this new major tax law and explore how it affects financial planning for individuals, families, business owners, and retirees.
From changes to deductions and the SALT cap, to new opportunities for saving and investing, we’ll discuss what’s in the bill, why it matters, and the steps you might want to take now to prepare for 2025 and beyond.
If you’re a U.S. taxpayer curious about how the OBBBA may affect your wallet, or you want to understand how this may impact the U.S. economy and standing within the world order, this episode will help you understand the key takeaways from this major piece of legislation.
What You’ll Learn in This Episode:
What the One Big Beautiful Bill Act is and why it’s important
How tax changes affect everyday taxpayers
New deductions and savings strategies
Practical steps you can take now to prepare for 2025 tax planning
Related Episodes
AI in 2025: What's New, What's Next, and What It Means For You, Part One
All About Tariffs: What They Are and Why They Matter to You
Raising Kids Without Breaking the Bank: Where Finances Meet Family
If you enjoyed this episode and want to stay ahead of financial planning changes, subscribe to the podcast, leave us a review, and share this episode with a friend or colleague who could benefit from the discussion.
Can money actually buy happiness? In this episode, we explore the surprising science behind happier spending, based on insights from the book Happy Money by Elizabeth Dunn and Michael Norton. We dive into five key principles—like buying experiences instead of things, making indulgences rare, and investing in others—to help you make financial decisions that actually enhance your well-being.
If you enjoy the episode, don’t forget to subscribe, leave us a review, and share it with a friend who wants to spend more meaningfully. You can email us with any comments, questions, or topics for future episodes at askcreatingwealth@taberasset.com.
Related episodes:
What Really Makes Us Happy? Insights from Yale's Science of Well-Being, Part One
From Theory to Practice: How to Increase Your Well-Being Every Day, Part Two
Resources:
Happy Money: The Science of Happier Spending by Elizabeth Dunn and Michael Norton
In today’s digital age, financial misinformation is everywhere, especially on social media platforms like TikTok, Instagram, and YouTube. In this episode, we’re diving into the growing problem of financial misinformation online and how it can seriously impact your financial future.
Join us as we discuss what financial misinformation is, how common it is for people to seek financial advice online, and the most popular money myths circulating today. We’ll also break down the real-life consequences of following bad advice and what you should know before taking action on any financial information you find online.
In this episode, you’ll learn:
- What counts as financial misinformation
- Why social media is a hotspot for misleading money advice
- The most common personal finance and investing myths online
- How bad advice can derail your financial goals
- How to evaluate financial advice found online
Before you act on that next viral money tip, listen to this essential conversation on protecting your finances from misinformation.
Questions or feedback? Email us at askcreatingwealth@taberasset.com and don’t forget to subscribe and share if you find this helpful!
What if your biggest financial obstacle isn’t your income or expenses, but your mindset? In this re-released episode, we're revisiting one of our most popular conversations. Originally recorded in 2020 as a follow-up to our discussion on having an abundance mentality, this episode explores how your thoughts, beliefs, and emotions around money can directly shape your financial future.
Bill and Anastasia break down the subtle (and not-so-subtle) ways negative beliefs about money can hold you back. You’ll hear practical strategies for identifying limiting thoughts, shifting into an abundance mindset, and staying positive.
Whether you're working toward financial independence or simply trying to feel more confident with your money choices, this episode will help you reset your mindset and approach wealth creation with intention.
Topics Covered:
- How negative beliefs about money develop (and how to reframe them)
- The impact of social media and news on financial confidence
- Why abundance thinking is essential for long-term success
- Simple mindset shifts that can change your financial trajectory
Questions or feedback? Email us at askcreatingwealth@taberasset.com and don’t forget to subscribe and share if you find this helpful!
Related Episodes:
Having an Abundance Mentality
5 Reasons You Should Have an Abundance Mentality
Ever thought about leaving your 9-to-5 and building a business of your own? In this episode, we sit down with co-host and seasoned entrepreneur Bill Taber to explore what it really takes to succeed as a small business owner. With over 25 years of experience running a successful Registered Investment Advisory (RIA) firm, Bill shares hard-earned lessons on shifting from employee to entrepreneur, the habits that helped him stay grounded, and the biggest mindset changes he’s made along the way.
We dive into questions aspiring business owners often wrestle with: How do you know if you’re ready to launch? What financial basics should you have in place? What do people often misunderstand about being your own boss? And what’s still exciting about business ownership even after two decades?
Whether you're just starting to consider a career pivot or you're already building something of your own, this episode is packed with real-world insights and encouragement to help you stay the course.
Topics covered:
- What inspired Bill to start his own firm
- The mindset shift from W2 employee to business owner
- Habits that have supported long-term success
- Signs someone may not be ready to start a business yet
- How to balance daily operations with long-term growth
- What’s still exciting after 25+ years in business
Have questions or ideas for future episodes? Email us at askcreatingwealth@taberasset.com
Don’t forget to subscribe, leave a review, and share this episode with someone dreaming of starting their own business!
Our previous episodes on small business and well-being: Starting Your Own Business Common Challenges of Small Business Owner What Really Makes Us Happy? From Theory to Practice: How to Increase Your Well-Being Every Day Resources: Man's Search for Meaning by Victor Frankl The E-Myth Revisited: Why Most Small Businesses Don't Work and What To Do About It by Michael Gerber Exponential Organizations: Why new organizations are ten times better, faster, and cheaper than yours (and what to do about it) by Salim Ismail Exponential Organizations 2.0 by Salim Ismail
Confused about Roth accounts? You’re not alone. In this episode, we’re breaking down one of the most important—and misunderstood—topics in retirement planning in the U.S.
We’ll walk through the key differences between Roth and Traditional accounts, income limits for Roth contributions, and how Roth 401(k)s compare to Roth IRAs. You’ll also learn when it makes sense to contribute to a Roth, how the backdoor Roth strategy works, and when a Roth conversion might benefit your long-term plan. Plus, we’ll cover early withdrawal rules, required minimum distributions (RMDs), and how to incorporate Roth accounts into your overall retirement and tax diversification strategy.
Whether you’re building your retirement roadmap or fine-tuning your portfolio, this conversation is packed with actionable insights to help you make the most of your money—now and in the future.
We cover:
- The difference between Roth and Traditional accounts
- Roth IRA vs. Roth 401(k): Which one fits your goals
- Income limits for Roth contributions
- How and when to use a backdoor Roth
- What Roth conversions are and when they make sense
- Early withdrawal rules and how to avoid penalties
- How to include Roth accounts in a long-term retirement and tax diversification strategy
Enjoy the show? Please subscribe, leave a review, or share this episode with a friend! Got questions or topics you'd like us to cover? Email us at askcreatingwealth@taberasset.com—we’d love to hear from you.
Welcome to our annual AI update! A lot has changed in just a year, and in 2025, artificial intelligence is advancing faster than ever—impacting how we work, live, and interact with the world around us. In this two-part series, we break down the biggest developments in AI, how it’s becoming embedded in our everyday lives, and what you can do to stay ahead of the curve.
In Part One, we focused on how AI has evolved over the past year, the most important trends to watch over the next 12–18 months, and what the average person should understand about the current pace of AI development. We also shared how we’ve personally been integrating AI tools into our daily lives—both professionally and at home.
In Part Two, we’ll explore how AI is transforming the job market, which roles are being affected most (both positively and negatively), and the ethical concerns that are rising along with the technology. We’ll wrap with practical advice on how to stay informed and remain adaptable in a rapidly changing AI-driven world.
For questions, comments, or feedback, email us at askcreatingwealth@taberasset.com. Be sure to subscribe and leave a review to stay updated on future episodes.
Check out our previous episodes on AI:
2024 - Navigating the AI Revolution: Insights for Investors and Workers, Part One
2024 - Navigating the AI Revolution: Insights for Investors and Workers, Part Two
2023 - Are You Prepared for the AI Revolution?
Welcome to our annual AI update! A lot has changed in just a year, and in 2025, artificial intelligence is advancing faster than ever—impacting how we work, live, and interact with the world around us. In this two-part series, we break down the biggest developments in AI, how it’s becoming embedded in our everyday lives, and what you can do to stay ahead of the curve.
In Part One, we focus on how AI has evolved over the past year, the most important trends to watch over the next 12–18 months, and what the average person should understand about the current pace of AI development. We also share how we’ve personally been integrating AI tools into our daily lives—both professionally and at home.
In Part Two, we’ll explore how AI is transforming the job market, which roles are being affected most (both positively and negatively), and the ethical concerns that are rising along with the technology. We’ll wrap with practical advice on how to stay informed and remain adaptable in a rapidly changing AI-driven world.
For questions, comments, or feedback, email us at askcreatingwealth@taberasset.com. Be sure to subscribe and leave a review to stay updated on future episodes.
Check out our previous episodes on AI:
2024 - Navigating the AI Revolution: Insights for Investors and Workers, Part One
2024 - Navigating the AI Revolution: Insights for Investors and Workers, Part Two
2023 - Are You Prepared for the AI Revolution?
In this episode, we talk about how to take control after a job loss and make smart decisions for your financial future and career. We discuss what to do in the immediate aftermath, including addressing the emotional impact of job loss and what key financial steps to take. You’ll also hear practical advice on how to start planning your next move, especially if your industry is evolving or no longer viable. Whether you’ve just been laid off, are navigating a major career pivot, or you’re supporting someone who is, this episode is here to guide you through those uncertain moments.
For questions, comments, or feedback, email us at askcreatingwealth@taberasset.com. Be sure to subscribe and leave a review to stay updated on future episodes.
In this insightful episode, we tackle one of life’s most consequential decisions: "Should I Have Kids?" with the help of our special guest, Ann Davidman—a seasoned marriage and family therapist from the San Francisco Bay Area. Together, we delve into the process of choosing or not choosing parenthood, and the role of financial readiness. Whether you're on the fence about starting a family or simply curious about the balance of emotional and financial preparedness, this episode offers valuable guidance to help you make a thoughtful, informed decision.
Ann Davidman is a seasoned expert who has spent years working with others on this very topic. Ann earned her graduate degree from San Francisco State University. She’s a member of the California Association of Marriage and Family Therapists (CAMFT) and maintains a successful private psychotherapy practice in the San Francisco Bay area. She’s been featured in numerous publications, including Vox, The Washington Post, The New York Times, Fatherly, Refinery 29, Baby Center, ABC Australia, +Lifehacker, The Daily Mail, and more.
Have questions or comments? Reach out to us at askcreatingwealth@taberasset.com, and don't forget to subscribe and leave a review. Tune in now for an essential conversation that could shape your future.
Resources:
Ann Davidman's website
Book - "Motherhood: Is it for Me?"
Connect with us on LinkedIn: Bill Taber and Anastasia Taber
Welcome to a very special episode of our podcast! We’re taking a break from our usual deep dives into personal finance to explore a fun, unconventional perspective—through the eyes of Anastasia's toddler daughter (and Bill's granddaughter). We'll skip over the advanced classes in baby finances and jump straight to Baby Finances 401, where we ask the hard and existential questions about money.
For questions, comments, and topics, you can email us at askcreatingwealth@taberasset.com. Don't forget to subscribe and review us—your support helps us bring more joy and insightful conversations to our community!
Welcome back to our March series on well-being, inspired by Yale’s renowned Science of Well-Being course by Professor Laurie Santos. In our last episode, we debunked common myths about happiness and explored how our brains sometimes lead us astray in our pursuit of joy. In Part Two, we’re making it practical by delving into research-backed strategies that can boost your happiness and well-being.
We unpack the concept of “rewirements” and discuss how small, intentional habits like practicing kindness, savoring positive moments, and daily gratitude can counteract hedonic adaptation. We’ll explore the power of resetting your reference points, the benefits of meditation, and offer actionable tips to seamlessly integrate these happiness habits into your everyday life.
Whether you’re seeking an abundance mindset or looking for practical ways to enhance your personal well-being, this episode is packed with insights to help you cultivate lasting happiness. Tune in now to discover the one key takeaway that could transform your approach to living a better life!
For questions, comments, or topic suggestions, email us at askcreatingwealth@taberasset.com. Enjoy the episode!
Resources:
The Science of Well Being course (free)
The New Era of Positive Psychology TED Talk by Martin Seligman (2004)
The Surprising Science of Happiness TED Talk by Dan Gilbert
Learn your character strengths
Use your strengths to boost happiness
Connect with us on LinkedIn: Bill Taber and Anastasia Taber
Welcome to our March series on well-being, inspired by Yale’s renowned Science of Well-Being course by Professor Laurie Santos. In this first episode, we dive into the core misconceptions about happiness and explore how our minds can sometimes trick us into chasing the wrong goals—like believing that a promotion or more money will automatically bring joy. We break down the science behind what truly makes us happy, discussing what factors play critical roles in boosting our overall well-being. We also examine the impact of social media on our perceptions of happiness and share actionable mindset shifts that can help you adopt an abundance mentality.
Given the wealth of information offered in this course, we are splitting this conversation into two episodes. Part One will focus on what are misconceptions about happiness, how our minds trick us, and what actually makes us happy. Part Two will focus on how to apply practical strategies to increase your well-being and happiness. Tune in and join us on this journey to rethink what truly brings joy and to set the stage for a more fulfilling year!
For questions or comments, reach out to us at askcreatingwealth@taberasset.com. Enjoy the episode!
The Science of Well Being course (free)
The New Era of Positive Psychology TED Talk by Martin Seligman (2004)
The Surprising Science of Happiness TED Talk by Dan Gilbert
Learn your character strengths
Use your strengths to boost happiness
Connect with us on LinkedIn: Bill Taber and Anastasia Taber
Welcome back to the podcast! In this re-released episode, we revisit one of our most popular discussions—"Regulating Emotions During Jumpy Markets"—with fresh context for 2025. With the U.S. stock market at all-time highs and investment returns in 2023 and 2024 rivaling those of the dot-com boom, our conversation on market volatility has never been more relevant.
In this episode, Bill shared his personal insights on the turbulent market conditions of May 2022—when inflation began to surge. He even drew a compelling analogy between Mito Pereira’s 2022 PGA Championship loss and the resilience required to navigate challenging market conditions. We also discussed whether it was time for investors to adjust their strategies amid ongoing economic uncertainties.
If you’re feeling the market jitters or simply seeking guidance on maintaining focus on your long-term financial goals, this episode provides practical strategies for regulating your emotions and staying on course. For any questions or comments, feel free to reach out at askcreatingwealth@taberasset.com. Tune in for timely insights that help you navigate the ups and downs of today’s market!
Resources:
Connect with us on LinkedIn: Bill Taber and Anastasia Taber
Thinking about getting married? Before saying "I do," it’s crucial to have honest conversations about communication, finances, and long-term goals to build a strong foundation for your marriage. In this episode, Rev. Dr. Scott Paczkowski, senior pastor at Westminster Presbyterian Church in Des Moines, IA, joins us to share his insights from years of pre-marital counseling experience.
We’ll discuss:
- The most common areas of conflict in marriage and how to address them early - Key questions couples should ask each other before getting married - How to improve communication and navigate financial differences - Steps to grow together emotionally and spiritually as a couple
If you’re engaged, newly married, or planning for the future, this episode will help you prepare for a successful marriage with practical tips and expert advice.
Have thoughts on this episode or a question for us? We’d love to hear from you! Connect with us on LinkedIn or send us an email at askcreatingwealth@taberasset.com. Don’t forget to subscribe and leave a review—it helps others find the show!
Resources:
Connect with us on LinkedIn: Bill Taber and Anastasia Taber
About Rev. Dr. Scott Paczkowski
Tariffs—what are they, and why do they matter to you? In this episode, we break down the basics of tariffs, explaining why governments use them and how they impact everything from the price of everyday goods to job opportunities. If you’re wondering whether certain products will get more expensive or how global trade policies affect your financial future, we’ve got you covered.
We’ll also dive into real-world examples, exploring how tariffs on industries like steel and electronics have shaped markets and consumer prices. Plus, we’ll discuss what these policies mean specifically for Millennials and Gen Z, from the impact on jobs to the cost of living. If you’ve ever wanted to make sense of the headlines and understand how trade decisions impact your daily life, this episode is for you!
Don't forget to subscribe or share this episode with a friend. Have questions, thoughts, or ideas for future episodes? We'd love to hear from you--reach out on social media or send us an email to askcreatingwealth@taberasset.com.
Resources:
Connect with us on LinkedIn: Bill Taber and Anastasia Taber
AP: What are tariffs and how do they work?
National Bureau of Economic Research paper
NBC: Tariffs contribute to job losses in American manufacturing, Fed report shows
Yahoo Finance: Tariffs could raise car prices quickly
What is the Smoot-Hawley Tariff Act?
Start your financial year off right! In this episode, we review how our budgets went in the last year, what we learned, and what we want to focus on in the next year. We’ll also explore why focusing on small tweaks—not massive overhauls—is the key to long-term success, and reveal ten simple adjustments you can make to improve your budget and save more money. From tracking hidden expenses to optimizing your subscriptions, we’ll break down practical tips that anyone can implement. We’ll tackle common challenges, like staying motivated when progress feels slow, and share strategies to bounce back if you fall off track.
Whether you’re looking to take control of your finances for the first time or refine your current system, this episode is packed with insights to help you achieve your 2025 financial goals. Tune in and discover which tiny tweak could make the biggest difference in your budget this year!
If there’s one tweak from today’s conversation that resonated with you, we’d love to hear about it! Share your thoughts, questions, or successes with us on social media or through email at askcreatingwealth@taberasset.com. And if you found this episode helpful, don’t forget to share it with a friend who might also be looking to level up their financial game in 2025.
Resources:
Connect with us on LinkedIn: Bill Taber and Anastasia Taber
Check out our other annual budgeting episodes:
2024
2023
2022
2021
2020
Are you ready to take control of your financial future? In this episode, we're breaking down the four levels of wealth—a powerful framework that can help you understand where you stand financially, where you want to go, and how to get there. Whether you're just starting out, working toward financial independence, or dreaming of reaching elite levels of wealth, this conversation is packed with practical tips, insights, and motivation to help you move up the wealth ladder.
We'll explore how Millennials and Gen Z can assess their current financial standing using two key formulas, and we'll share actionable advice for moving from the lower or mid levels to higher levels of wealth. Along the way, we'll highlight common mistakes to avoid and strategies for staying motivated, even when progress feels slow.
If you've ever felt stuck in your financial journey or wondered how to reach the next milestone, this episode is your roadmap to leveling up. Let's dive in and build a brighter financial future together!
We love hearing from our listeners. If you have any questions, comments, or topic suggestions, you can reach out to us at askcreatingwealth@taberasset.com.
Other Related Episodes
2020: Budgeting
Spending Control
2021: Forming an Annual Budget Episode
How to Increase Your Savings Rate
2022: How Is Your Budgeting Going?
2023: How to Prioritize Your Spending
Negotiating Salaries - How to Increase Your Income
5 Ways to Limit Lifestyle Creep
2024: Reach Your 2024 Goals By Budgeting
Understanding FIRE: How the Financial Independence Retire Early Movement Applies to You
The Millionaire Next Door Discussion, Part One
The Millionaire Next Door Discussion, Part Two
In this special episode, we're revisiting one of our favorite annual topics: gratitude. It's no secret that practicing gratitude can lead to a happier and more fulfilling life—but did you know it can also play a key role in building wealth?
Join us as we reflect on the year 2024, share heartfelt messages of gratitude from our listeners, friends, and family, and discuss why focusing on abundance—rather than scarcity—can help you grow your wealth and make wiser financial choices. We'll also discuss how gratitude can serve as a powerful antidote to the negativity of social media and the 24-hour news cycle, helping you reframe your mindset and focus on what truly matters.
Whether you're looking for positivity or inspiration to incorporate gratitude into your financial journey, this episode is for you. Tune in to start reflecting on what you're grateful for and get inspired for how gratitude can shape a brighter, more abundant future.
We love hearing from our listeners. If you have any questions, comments, or topic suggestions, you can reach out to us at askcreatingwealth@taberasset.com.
Resources:
Free Yale course: The Science of Well-Being
Br. David Steindl-Rast on gratitude
Insurance can be a confusing and often overlooked part of personal finance, but it plays a critical role in safeguarding your financial future. In this episode, we're joined by Michael Silverman, President and CEO of Silver Lining Insurance Agency, Inc., and an independent insurance agent with over 40 years of experience. Together, we break down the essentials of insurance, including the common mistakes people make, how to adjust your policies for different life stages, and why regular reviews of your coverage are so important.
Michael also shares practical tips for Millennials and Gen Z on shopping for insurance, insights on rising premiums caused by severe weather events, and how independent agents can help find personalized coverage that meets your unique needs. Whether you're navigating auto, home, health, or life insurance, this episode provides the expert advice you need to make smart decisions and protect what matters most.
As 2024 comes to a close, we'd love to hear from you! For our final episode of the year, we're focusing on gratitude and reflection. If you'd like to share something you're grateful for this year--whether it's a financial win, a personal achievement, or a moment that brought you joy--send us a message! Your stories could inspire others and help us close the year on a positive note.
For any questions, comments, or topic suggestions, email us at askcreatingwealth@taberasset.com.
Resources:
Michael's firm's website - Silver Lining Insurance Agency
In this episode, we're tackling an essential yet often overlooked personal finance topic: estate planning. Whether you're just starting out in your career or well along your wealth-building journey, having an estate plan is critical for protecting your assets and loved ones. Our guest, Olesya Sidorkina, an experienced estate planning attorney, breaks down everything you need to know about wills, trusts, and avoiding probate. We'll discuss common mistakes, affordable options for young professionals, and why estate planning isn't just for the wealthy. If you've ever wondered where to start or why it's important to plan ahead, this episode is your guide to understanding and securing your financial legacy.
For any questions, comments, or topic suggestions, email us at askcreatingwealth@taberasset.com.
Resources:
Olesya's firm's website - Essential Legal Planning
Today, we're diving into the second part of a two-part series aimed at reversing some of the doom and gloom that seems so prevalent in American discourse today. Recent polls show that only 25% of Americans are satisfied with how things are going, but is the outlook really so bleak?
In part one, we covered the current state of the U.S. economy, Anastasia shared some exciting personal news, and Bill explored the ten factors that make the U.S. economy the strongest in the world.
In part two, we'll discuss how Millennials stack up against Baby Boomers at their age, and why the tendency to view past turbulence through rose-colored lenses may be skewing our perspective.
Whether you're feeling stressed or anxious about the election results or just looking for a positive perspective on the economic outlook, this two-part episode series will help reorient your mindset toward abundance - a key theme of our podcast.
For any questions, comments, or topic suggestions, email us at askcreatingwealth@taberasset.com.
Resources:
The Great Millennial Divide article
Morgan Housel's podcast
Wait But Why - Why I Lugged My 27-Pound Toddler to a Rocket Launch
SpaceX catches Starship rocket booster
The Internet and the Pandemic - Pew Research
Previously, we discussed market volatility leading up to the U.S. election. Today, we're diving into the first part of a two-part series aimed at reversing some of the doom and gloom that seems so prevalent in American discourse today. Recent polls show that only 25% of Americans are satisfied with how things are going, but is the outlook really so bleak?
In part one, we'll cover the current state of the U.S. economy, Anastasia will share some exciting personal news, and Bill will explore the ten factors that make the U.S. economy the strongest in the world.
In part two, we'll discuss how Millennials stack up against Baby Boomers at their age, and why the tendency to view past turbulence through rose-colored lenses may be skewing our perspective.
Whether you're feeling stressed or anxious about the election or just looking for a positive perspective on the economic outlook, this two-part episode series will help reorient your mindset toward abundance - a key theme of our podcast.
For any questions, comments, or topic suggestions, email us at askcreatingwealth@taberasset.com.
The Envy of the World: The Economist special report
Check out our related recent episode, Three Mistakes Investors Make During Election Years
The election is stressing everyone out
In this episode, we're diving into a topic that often seems distant for younger generations: Social Security. Many millennials and Gen Zers might think Social Security won't impact them for decades, but it's crucial to start understanding it now. We begin with a brief history of Social Security and explain how it works in the U.S. We'll explore why Social Security is still important for younger people's retirement planning and address the burning question: Is Social Security really running out?
We'll discuss what factors are leading to concerns about the program's future and what potential reforms are being considered to keep it sustainable. Finally, we break down the key factors that determine how much you'll receive in Social Security benefits and offer insights on what younger generations should keep in mind as they plan their financial future.
This episode is packed with important information to help you plan for long-term financial stability. Leave a review or send us your questions at askcreatingwealth@taberasset.com!
Resources:
Retirees Face a $17,400 Cut If Social Security Isn't Saved
Social Security's Financial Outlook
In today's episode, Anastasia is joined by a special guest--her husband Dean--to explore the intersection of finance and romance. Managing finances in a relationship has its challenges, especially when one partner takes on the role of the "CFO" while the other is more hands-off. We share our personal experiences of navigating money management together. We'll discuss how we decided who would take the lead in handling finances, the challenges and benefits of this dynamic, and how we maintain open communication and shared financial goals. Whether you're the primary financial planner or your partner is, we've got practical tips to help you create financial harmony in your relationship. Plus, we'll dive into lessons learned and even our dream financial superpowers!
Tune in to discover how to work together on building wealth while maintaining a strong partnership. Don't forget to leave a review or send us your questions at askcreatingwealth@taberasset.com!
Check out our previous related episodes:
Timing Matters: When to Merge Finances with Your Partner (May 2024)
How to Build Wealth With Your Partner (February 2023)
Discussing Finances with Your Life Partner (July 2020)
Bonds 201 (April 1, 2021)
How do U.S. elections impact the stock market? In this episode, we dive into "election anxiety" and how it affects your investment decisions. We'll explore the historical data on market performance during election years, whether it matters which political party controls the government, and the three common mistakes investors often make during the election season. Plus, we'll share actionable strategies to help you avoid these pitfalls and provide perspective on the best mindset to adopt during politically charged times. If you're feeling uncertain about the upcoming election and your investments, this episode is for you!
Tune in to learn how to navigate market volatility during election seasons and keep your investment strategy on track.
For any questions, comments, or topic suggestions, email us at askcreatingwealth@taberasset.com.
Resources:
List of largest daily changes in the Dow Jones Industrial Average
S&P 500 Chart
In today's digital age, fraudsters are becoming more sophisticated, targeting individuals through online scams, phishing emails, and identity theft. In this episode, we dive deep into how you can protect yourself from falling victim to fraud. We'll cover key strategies to recognize suspicious emails, phone calls, and messages, and how to verify the legitimacy of companies, investment opportunities, or charities before engaging with them. Learn about common psychological tactics scammers use to manipulate their victims, and discover practical steps to safeguard your personal and financial information. Whether you're shopping online, using mobile apps, or receiving unexpected communications, this episode will equip you with the knowledge to stay vigilant and secure. Join us as we explore how to respond to fraud, report fraudulent activities, and take proactive measures to protect yourself in an increasingly connected world.
For any questions, comments, or topic suggestions, email us at askcreatingwealth@taberasset.com.
Resources:
Info on the Social Security number leak
Check if your Social Security number was leaked
Access Your Credit Reports
Info on Credit Card Liability
Rescuing Your Hacked Social Media Account
How to Protect Yourself from Sim Swap Scams
How to Freeze Your Child's Credit
In this episode, we dive into the recent market volatility that has left many investors concerned. If you've noticed your investment account balances dropping or seen chatter online about market dips, we're here to provide clarity and context. We'll discuss what's been happening in the markets lately, explore the key factors contributing to increased volatility right now, and break down the latest actions by the Federal Reserve regarding interest rates, inflation, and unemployment. We also address the "buy the dip" strategy that some retail investors are adopting during a downturn and offer our thoughts on its effectiveness. Whether you're a seasoned investor or new to the market, this episode will give you valuable insights to help you stay focused on your long-term investment goals.
For any questions, comments, or topic suggestions, email us at askcreatingwealth@taberasset.com.
Resources:
The failure of Pets.com
Check out our most recent AI two-parter
Regulating Emotions During Jumpy Markets
In this episode, we revisit one of our favorite personal finance books, "The Psychology of Money" by Morgan Housel to understand how our individual experiences and the elements of luck and risk influence our financial decisions. Building on key insights, we explore why personal history plays such a significant role in shaping how we view money and make financial choices.
We'll discuss:
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How personal experiences with money shape our financial worldview.
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The impact of generational differences on attitudes towards money and wealth.
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Insights for making informed financial decisions considering personal biases.
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The balance between luck and risk in achieving financial success.
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Memorable stories and quotes that highlight the unpredictable nature of financial outcomes.
This episode will provide valuable perspectives to help you better understand your relationship with money and make more mindful financial choices. Tune in to gain practical advice and deeper insights into the psychology of financial behavior.
For questions, comments, and topic suggestions, email us at askcreatingwealth@taberasset.com.
A 2023 survey conducted by payroll.org found that 78% of Americans live paycheck to paycheck and are struggling to save or invest after covering monthly expenses. Despite markets reaching all-time highs, recent years of inflation have driven significant stress and concern over the current economic state. Roughly half of 4,000 respondents in a June survey by Jenius Bank reported losing sleep over their financial situation. In this episode, we focus on what we can control: developing financial discipline. What does it take to be disciplined with your money? We'll expand on the statistics behind Americans living paycheck to paycheck, explore the history of personal savings, and dive into what it takes to be financially disciplined. We'll cover: 1. The top reasons why Americans live paycheck to paycheck. 2. The history of personal savings – how did people save money decades or centuries ago? 3. The nature of self-discipline – is it innate or a learned skill? 4. Common challenges people face when trying to develop financial discipline. 5. Practical strategies to increase financial discipline. We hope this episode empowers you with ideas and strategies to incorporate into your life, helping you increase your discipline in creating wealth. Let's begin! For any questions, comments, or topic suggestions, email us at askcreatingwealth@taberasset.com.
In this episode, we dive into essential tax strategies tailored for young investors. Discover the key differences between Roth and traditional IRAs and understand how these choices impact your tax strategy. We'll explain the concept of tax diversification and its importance for building a resilient financial future. Learn how to prioritize contributions to tax-advantaged accounts like 401(k)s, Roth IRAs, and HSAs, and avoid the five common mistakes that young investors may make. We'll also discuss how different types of investment accounts influence your tax burden and break down the nuances of capital gains taxes, dividends and interest income. Equip yourself with the knowledge to navigate taxes effectively and build wealth with confidence.
For questions, comments, and topic suggestions, email us at askcreatingwealth@taberasset.com. Don't miss out-subscribe now to stay informed on the latest investment trends and personal finance topics!
Related Episodes:
Taxes 101
How to Manage Your 401(k)
In April 2023, we discussed the rise of AI, our experiences with Chat GPT, and the profound changes AI is poised to bring to our world. We concluded that AI would transform nearly everything, with some changes foreseeable and others beyond our current understanding. Given the rapid advancements in AI, it’s time for an update. In Part One, we explore the latest developments that have occurred in the AI space, what new technology is on the horizon, the potential risks and societal implications of increased AI adoption, and key insights for investors navigating the evolving AI landscape. In Part Two, we continue the discussion to provide important information for workers to consider as they adapt to AI-driven changes in the job market. Join us as we unpack these developments, providing valuable perspectives for both investors and workers to navigate the ongoing AI revolution with confidence and success. For questions, comments, and topic suggestions, email us at askcreatingwealth@taberasset.com. Don’t miss out—subscribe now to stay informed on the latest investment trends and personal finance topics! Resources: The Last Blockbuster documentary The Precipice: Existential Risk and the Future of Humanity by Toby Ord List of nuclear warhead accidents Center for Humane Technology
In April 2023, we discussed the transformative rise of AI, predicting that AI would revolutionize nearly every aspect of our lives. Now, a year later, it's time for an update on this rapidly evolving technology. In this episode, we explore the latest AI developments and what they mean for the future.
Join us as we delve into:
- The newest advancements in AI since our last episode.
- Emerging AI technologies on the horizon.
- The risks and societal implications of increased AI adoption.
- Essential insights for investors navigating the AI landscape.
- Crucial information for workers adapting to AI-driven changes.
Whether you’re an investor, a professional, or simply curious about the future of AI, this episode provides valuable perspectives and practical advice. Tune in to stay informed about the AI revolution and its impact on our world.
For questions, comments, and topic suggestions, email us at askcreatingwealth@taberasset.com. Don't miss out—subscribe now for more insights on AI and its transformative power!
Resources:
Are You Prepared for the AI Revolution?
Driverless Taxis
Robot coffee
In today's episode, we delve into the FIRE movement—Financial Independence Retire Early. Whether you're new to FIRE or looking to refine your approach, this episode covers what you need to know about applying the FIRE approach to your life. We explore the evolution of FIRE, break down its various types (Lean FIRE, Fat FIRE, Barista FIRE, and Coast FIRE), and discuss who can benefit most from this financial strategy.
As fiduciaries—a financial advisor and a CERTIFIED FINANCIAL PLANNER™—we provide an unbiased analysis of the pros and cons of the FIRE movement. You'll gain valuable tips on how to implement FIRE principles into your own financial life, even if you don't fully commit to the movement. Tune in to discover how FIRE can help you achieve financial freedom and rethink your retirement strategy.
For any questions, comments, and to suggest topics for the podcast, you can email us at askcreatingwealth@taberasset.com.
More Resources:
F.I.R.E. For Dummies by Jackie Cummings Koski Follow Your Bliss Choose FI - communities for Financial Independence, Retire Early
Lately, Anastasia has received questions from several couples who are considering merging their finances. When and how should couples start involving each other in their financial information? What kind of approach should each partner take before initiating discussions around money habits? How do you prompt these kinds of conversations? Are there scenarios where couples should not merge their finances?
For any questions, comments, and to suggest topics for the podcast, you can email us at askcreatingwealth@taberasset.com.
Check out our other related episodes:
Discussing Finances with Your Life Partner
How to Build Wealth With Your Partner
What is Deworsification? Why are index funds so popular? Today we jump into the debate of passive versus active investing and consider what investors should understand about these different investing styles. What should investors understand before purchasing an index fund? What are reasons to have an active investment strategy? What should you ask before hiring an active manager? Bill provides perspective from his 40+ year career in investing on what he has seen work when it comes to defining your investment strategy and his thoughts on the prevalence of index funds.
For any questions, comments, and to suggest topics for the podcast, you can email us at askcreatingwealth@taberasset.com.
Check out our other investing episodes:
How Do I Invest My Own Money?
How Do You Invest?
Finding the Right Investing Style for You
Investing in Common Stock, Part One
Investing in Common Stock, Part Two
Is Investing in the Stock Market the Same as Gambling?
Intro to Investing
We revisit one of the core principles of Creating Wealth that is fundamental to wealth building: an abundance mentality. We discuss five reasons why you should have an abundance mentality and share our recent thoughts and advice in implementing this within your financial life.
For any questions, comments, and to suggest topics for the podcast, you can email us at askcreatingwealth@taberasset.com.
Check out the other episodes we mentioned today.
Your Health and Your Wealth
Your Financial Mindset
Having an Abundance Mentality
The Seduction of Pessimism and the Power of Optimism
Other resources we mentioned:
The Artists Way by Julia Cameron
Twin Study on Netflix
Joseph Campbell, mythologist
Today, we cover the four different forms of finance that are essential to understand in your wealth building journey.
For any questions, comments, and to suggest topics for the podcast, you can email us at askcreatingwealth@taberasset.com.
What are the signs you are considering a magic bullet? We discuss why people are drawn to magic bullets when it comes to personal finance and share stories of how to identify them and understand them. What really matters when it comes to creating wealth? We share practical tips on how to implement the fundamentals to wealth building.
For any questions, comments, and to suggest topics for the podcast, you can email us at askcreatingwealth@taberasset.com.
Check out our last episode on elevating your career.
The first of our crypto two-parter.
Remember to invest, not speculate.
Blackrock CEO says retiring by age 65 is crazy.
The National Association of Realtors settled a lawsuit that could up-end the way real estate agents are paid.
It's about time in the market, not timing the market.
In today's rapidly evolving job market, navigating job transitions and career changes is becoming increasingly common. Whether you're contemplating a new career path, facing unexpected layoffs, or striving for advancement, managing these transitions effectively is crucial.
We'll clarify how to identify new job opportunities, enhance your resume and personal brand, and leverage your networking strategies. We'll also discuss the importance of financial preparedness during transitions, providing practical tips for building an emergency fund and weathering financial uncertainty.
We share our own insights and experiences, offering advice on how to cope with change and maintain resilience. If you're embarking on a job or career transition or contemplating your next move, this episode provides actionable advice to help you navigate career transitions with confidence and success.
For any questions, comments, and to suggest topics for the podcast, you can email us at askcreatingwealth@taberasset.com.
Resources:
If you liked this episode, check out How to Increase Your Income.
Having a financial abundance mindset is key.
Does everyone have an inner monologue?
More on meditation.
Creating Wealth has made it to 100 episodes! In this podcast, we're diving into the personal side of things--we'll discuss our podcasting journey over the last almost four years, what we've learned through this process, and what we hope for the next 100 episodes. We talk about how we were drawn to the financial services industry and how we learned to manage our money. Aside from being a more personal episode, our goal is for you to understand more about our industry and have some takeaways that apply to your own life and get you thinking about what you want from it.
As always, please consider sharing this episode with a friend, family member, or coworker. We appreciate your support as listeners!
For questions, comments, and topics, you can email us at askcreatingwealth@taberasset.com.
Social comparison is everywhere, but how does it affect your finances? Today we're diving into the topic of comparison--how common is it for millennials and Gen Z to compare their financial situations? What are some potential negative effects of comparing your finances to others? What are strategies to avoid overuse of comparision? Are there benefits to discussing finances with friends, or should you keep it confidential?
We'll talk about what really matters when it comes to forging your own path of financial success and provide a few examples to ponder.
As always, please consider sharing this episode with a friend, family member, or coworker. We appreciate your support as listeners!
For questions, comments, and topics, you can email us at askcreatingwealth@taberasset.com.
Annuities are not the simplest of investments to understand—yet they are definitely worth understanding! So today we’re going to discuss annuities, how they work, in what cases they make sense to buy—and when they don't. We’ll also discuss the questions you should ask before buying an annuity: How do I buy one? How are they taxed?
We hope this episode brings you a much better understanding of what annuities are, and how they work as a tool in your financial toolkit.
As always, please consider sharing this episode with a friend, family member, or coworker. We appreciate your support as listeners!
For questions, comments, and topics, you can email us at @askcreatingwealth@taberasset.com.
January is typically the time when people are thinking about goals for the year ahead. And a key component to accomplishing those goals is budgeting—one of our favorite topics! Join us as we discuss what we found interesting as we reviewed our 2023 budgets, and how we’re thinking about our budgets in 2024. We’ll also touch on the demise of Mint as a free online tool, cash flow thoughts from listeners, and share some helpful tips as you work on honing your own planning process.
As always, please consider sharing this episode with a friend, family member, or coworker. We appreciate your support as listeners!
For questions, comments, and topics, you can email us at askcreatingwealth@taberasset.com.
Anastasia announces an unanticipated quick break in the podcast after sad family news.
For questions and comments, you can email us at askcreatingwealth@taberasset.com.
Why is it that negative headlines get way more attention than positive headlines?
Join us as we revisit The Psychology of Money by Morgan Housel to discuss the chapter titled “The Seduction of Pessimism” and share our thoughts on the recent market downturn. We’ll also cover a recent Barron’s article titled “The Economic Cost of Unhappiness,” which contemplates how the unhappiness prevalent among young Americans may impact the wider economy. Finally, we’ll close out our discussion with why it pays to stay optimistic.
As always, please consider sharing this episode with a friend, family member, or coworker. We appreciate your support as listeners!
For questions, comments, and topics, you can email us at @askcreatingwealth@taberasset.com.
Raising kids is one of the most rewarding experiences in life. But it also comes with financial responsibilities and challenges—from diapers to daycare, and from college savings to family vacations. In this episode, we discuss the financial considerations that accompany starting a family. We explore budgeting, saving and investing for your children’s future, finding affordable childcare and education options, as well as insurance and estate planning to create a robust financial safety net for your family.
Whether you’re already a parent, thinking about becoming one, or just curious about the financial side of parenthood, join us as we guide you through this financial journey and provide clear takeaways. Ready to discover how to afford raising kids without breaking the bank? Listen now!
As always, please consider sharing this episode with a friend, family member, or coworker. We appreciate your support as listeners!
For questions, comments, and topics, you can email us at @askcreatingwealth@taberasset.com.
Why does getting wealthy and staying wealthy involve two different skill sets? Author of The Psychology of Money: Timeless Lessons on Wealth, Greed, and Happiness, Morgan Housel says, "There are a million ways to get wealth, but only one way to stay wealthy." Join us today as we focus on a few particularly enlightening chapters from Housel's book, which is filled with rich wisdom and interesting examples. Together we'll wrap our minds around his fascinating insights on the psychology of money.
As always, please consider sharing this episode with a friend, family member, or coworker. We appreciate your support as listeners!
For questions, comments, and topics, you can email us at @askcreatingwealth@taberasset.com.
Join us today as we provide an update on the progress of the Federal Reserve's journey to reduce inflation. We'll explore the implications of recent union strikes, the transformative role of artificial intelligence in the job landscape, and share savvy tips to navigate these soaring prices.
As always, please consider sharing this episode with a friend, family member, or coworker. We appreciate your support as listeners!
For questions, comments, and topics, you can email us at @askcreatingwealth@taberasset.com.
Younger generations are estimated to inherit as much as $70 trillion worth in wealth over the next 20 years. The questions are, what do you do with this money? How do you best honor the legacy of the inheritance while applying it in a way that aligns with your goals and values? Bill discusses what he's seen over his career of the five categories of adult children receiving an inheritance. He also shares how he reacted to his own inheritance. He walks though how he works with investing advisory clients who have received an inheritance. Anastasia shares a minor (minor!) spoiler for the Barbie (2023) movie.
For questions, comments, or topics, you can email us at askcreatingwealth@taberasset.com.
What is lifestyle creep and what are five ways to limit its impact on your financial journey? Anastasia and Bill explain the concept behind lifestyle inflation, describe its negative impact on personal finances when left unchecked, and provide actionable strategies for how to guard against it.
For questions, comments, or topics, you can email us at askcreatingwealth@taberasset.com.
Bill and Anastasia discuss The Shred Method with Adam Carroll, who used this technique to pay off his mortgage quickly and save his family over $180,000 in interest. He is sharing this method to help others achieve more financial freedom within their lives. Adam also discusses strategies he used to successfully teach his children about personal finance and how important it is for parents to teach their kids about finances long before they take out student loans. Adam shares what it's like to give a TED talk, dealing with imposter syndrome, and how he's built a life geared towards his passion of financial literacy.
Adam has published four books, produced an award-winning documentary on student loan debt, and has a TED talk with over 6 million views. To learn more about The Shred Method, you can visit Adam's website at www.theshredmethod.com.
Bill and Anastasia continue their conversation on retirement to discuss what listeners should know about health care in this life stage. What is the difference between your healthspan and lifespan? How has health care in retirement changed and what are the challenges U.S. individuals face? Why is this important to know even when you are decades challenges U.S. individuals face? Why is this important to know even when you are decades out from this stage of life? Bill discusses situations he's witnessed as a financial advisor and how important it is to take action on what you can control. Anastasia shares a gratitude practice she learned from Shawn Achor's TED Talk, "The Happy Secret to Better Work."
The book that inspired this conversation is titled: "What Retirees Want: A Holistic View of Life's Third Age," by Ken Dychtwald, PHD and Robert Morison.
For questions, comments, or topics, you can email us at askcreatingwealth@taberasset.com.
Will the current working generations retire the word "retirement"? What might that look like? How will retirement look different for Gen X, millennials, and Gen Z compared to Boomers? Bill and Anastasia discuss how increasing longevity will impact retirement and provide practical strategies for how to prepare yourself for this evolution. Bill gives an overview of the concept of retirement, explains its six stages, and discusses why some individuals choose to continue working. Anastasia manages to use an example from one of her favorite shows, Gilmore Girls, again.
Creating Wealth is now on Instagram! You can follow @creatingwealthpodcast for macroeconomic news and commentary along with previews of episodes.
For questions, comments, or topics, you can email us at askcreatingwealth@taberasset.com.
What is imposter syndrome and how does it impact personal finance? Anastasia discusses factors that have contributed to imposter syndrome in millennials and how they have created a lack of financial and professional confidence. Bill provides thoughts on how common this psychological phenomenon can be across generations. They discuss how the pandemic affected different age groups, the Arnold Schwarzenegger Netflix documentary, and share personal stories of how imposter syndrome has affected them. They discuss practical tips for how to overcome imposter syndrome and how to regain personal, professional, and financial confidence.
For questions and comments, you can email Bill and Anastasia at askcreatingwealth@taberasset.com.
Risk tolerance isn't the most exciting topic, but it's absolutely fundamental to your investment strategy. Bill and Anastasia revisit this subject to explain why it's so important to understand your risk tolerance. Bill gives his thoughts on the current markets and provides multiple examples from his career for why misunderstanding your risk tolerance can lead you to make emotional decisions with your investments. How does a financial advisor manage a couple where both individuals have differing risk tolerances? (Spoiler: This happens pretty much every time.) How do financial advisors apply risk tolerance to a client's investment strategy?
For questions and comments, you can email Bill and Anastasia at askcreatingwealth@taberasset.com.
How can you tell if you are suffering from burnout? What are the symptoms and how do you address burnout and resolve it? Anastasia and Bill explain how burnout impacts your professional, financial, and personal life and share times in their lives when they experienced burnout. They also provide practical tips for how to recover from burnout.
For a deeper dive on this topic and to reference information pulled for this episode, you can check out Emily Nagoski and Amelia Nagoski's book titled Burnout: The Secret to Unlocking the Stress Cycle.
For questions and comments, you can email Bill and Anastasia at askcreatingwealth@taberasset.com.
To create wealth, you must have a fundamental understanding of your financial situation. Bill and Anastasia discuss many important questions to get you thinking about your money. Do you know how much money is coming in vs. going out? If your water heater died, how panicked are you? How much money would you get if you sold your house today? What's the highest interest rate you are paying on your debt? How much are you worth?
Bill shares important life lessons from people he has met, and Anastasia talks about how her emergency fund saved her from a lot of stress last year. She also wonders how expensive homeowners insurance policies are for the ultra luxury homes portrayed on Netflix's Selling Sunset.
For questions and comments, you can email Bill and Anastasia at askcreatingwealth@taberasset.com.
Here's your Motivation Friday! Bill and Anastasia discuss what it takes to increase your income, including tips on how to negotiate salary, networking, how to determine what skills and education are needed, navigating career transitions, and how to stay motivated to work towards your income and career goals. Anastasia describes how financial planners, coaches, and advisors can assist their clients. Bill discusses an important concept to grasp as an employee.
For questions and comments, you can email Bill and Anastasia at askcreatingwealth@taberasset.com.
The Artificial Intelligence revolution is here.
Bill and Anastasia discuss the AI change, how fast this change is happening, and how to future-proof your career. They describe their interactions with ChatGPT and whether AI capabilities are something to fear, or something to figure out. They cover the open letter by the Future of Life Institute to halt AI development for six months, and mention how countries are currently approaching regulation of AI. Anastasia gives her thoughts on whether AI is a threat to creative writing and brings up one her favorite theories to discuss, the Fermi Paradox.
For questions and comments, you can email Bill and Anastasia at askcreatingwealth@taberasset.com.
Bill breaks down the timeline of events of the banking crisis that began in March 2023 and explains what happened. How big of a deal were the bank failures? Why did this happen? How much does this matter for you and the average investor? Bill gives his thoughts on whether we are heading for a recession while Anastasia manages to break down the very not-intuitive relationship between interest rates and bond prices. She also creates analogies to the banking crisis using examples from the 1946 film, "It's a Wonderful Life," and Harry Potter.
For questions and comments, you can email Bill and Anastasia at askcreatingwealth@taberasset.com.
Bill and Anastasia discuss the different species of bear markets.
For questions and comments, you can email Bill and Anastasia at askcreatingwealth@taberasset.com.
Bill and Anastasia discuss how you can prepare financially for traumatic events, such as a job loss, injury, or the death of a spouse. Do single people need life insurance? Is disability insurance necessary? How do you decide who to choose for legal guardianship of your children? What are estate planning tools you need to consider?
For questions and comments, you can email Bill and Anastasia at askcreatingwealth@taberasset.com.
Bill and Anastasia continue discussing emotion-based money topics by covering the four money beliefs that may form during childhood and how they can affect your approach towards money in adulthood, and ultimately your ability to build wealth. They discuss each money script using examples from Netflix shows and Bill's career. They then provide insight into how you can go about rewriting those scripts.
For questions and comments, you can email Bill and Anastasia at askcreatingwealth@taberasset.com.
Bill and Anastasia revisit a topic covered in one of Creating Wealth's first episodes "Discussing Finances with a Life Partner" to discuss the advantages that couples have in building wealth and how to end up on the same financial page with your partner. Why do spenders end up with savers and vice versa? How have macroeconomic trends affected millennials' opportunity to find a partner and build wealth? What should you do if your partner is uncomfortable with sharing their finances?
Many of the thoughts in this episode were sparked by the February 11th episode of the Apple News in Conversation podcast titled, "Money ruins marriages. It doesn't have to." You can listen to the episode on Apple News.
For questions and comments, you can email Bill and Anastasia at askcreatingwealth@taberasset.com.
Since Creating Wealth's National Debt episode in 2020, the total U.S. national debt has increased from $24 trillion to $31.5 trillion. Bill describes what caused the increase and how this will affect the U.S.'s standing in the world, using examples from Britain and China to compare and contrast. Bill explains what may happen to entitlements and what the implications are for individuals and investors. What strategies can investors take to hedge against this risk and what can U.S. citizens do about this?
For questions and comments, you can email us at askcreatingwealth@taberasset.com.
Bill and Anastasia continue their January topic on budgeting (a key component of creating wealth) to discuss how their respective family budgeting and goal setting processes went this year. Anastasia mentions the spending category that took her by surprise and compares the practice to getting back into workouts. She shares responses from others on whether they budget and what they find most challenging about it. Bill gives tips for how to stay motivated and what to do if you fall out of practice. He provides thoughts on whether it's necessary to continue tracking expenses closely once you have a handle on it.
For questions and comments, you can email us at askcreatingwealth@taberasset.com.
When it comes to vacations, do you pay first, budget later? Bill and Anastasia discuss their favorite vacations (which happen to be their most expensive vacations) and their least favorite unexpected vacation expenses before diving into Bill's process in budgeting for a vacation. What are some ways to save money while traveling? How do you factor in unexpected expenses? What travel luxuries may be worth the expense? What are the differences in planning for a couple vacation vs. a family vacation? What parts of the world are less expensive to travel to now or over time? When should you buy a travel package?
For questions and comments, you can email us at askcreatingwealth@taberasset.com.
In practice of having an abundance mindset, Bill and Anastasia return to their end of year tradition (for the third year in a row!) to take stock of what they and others are grateful for in the past year.
A special thanks to those who shared their messages of gratitude with Creating Wealth, and to healthcare workers who made sacrifices and risked their lives through the worst of the pandemic.
For questions and comments, you can email us at askcreatingwealth@taberasset.com.
Happy Holidays!
You've heard of them in the news - what is a merger and why do they matter? Are mergers good for shareholders, managers, employees, or society? What is important to understand about mergers as an investor? Bill and Anastasia discuss Penguin Random House's bid to merge with Simon & Schuster, Elon Musk's takeover of Twitter, and DuPont and Pioneer's merger.
Our next episode will be our annual reflection of what we're grateful for in 2022. You can submit your messages of gratitude to our email by Thursday, December 15th to be included in the podcast!
To submit questions or topics to the podcast, you can email us at askcreatingwealth@taberasset.com.
How do you buy a car? Is it better to buy a new car or a used car? How much should you spend? In what cases should someone lease a car instead of buying? How do you negotiate with a car salesperson? What fees are attached to the car aside from the sticker price? Should you consider electric? Bill talks about his recent and past car purchases. Anastasia explains why she's glad she didn't listen to a friend's advice when buying her first car.
To submit questions or topics to the podcast, you can email us at askcreatingwealth@taberasset.com.
What type of investor should hire a financial advisor and what can you expect from that relationship? Bill and Anastasia turn the spotlight on TABER Asset Management to discuss what services the firm offers and how they differ from other financial advisors. Anastasia asks whether investing in index funds is useful advice and Bill explains his active approach and how he avoids "diworsification."
Special Announcement: We are offering a free 45 minute consultation session covering any financially related questions to one person who rates, reviews, and follows our podcast, Creating Wealth. First, visit Apple Podcasts and search for our show. Click the "+" button in the top right-hand corner to follow the show. Then scroll down to the bottom until you reach Ratings & Reviews. Click one of the five stars and leave a rating. Tap "Write a Review" to review the show. Finally, take a screenshot of your review and send it to our email address: askcreatingwealth@taberasset.com.
Be sure to send any questions or comments to our email.
What type of investor should hire a financial advisor and what can you expect from that relationship? Bill and Anastasia turn the spotlight on TABER Asset Management to discuss what services the firm offers and how they differ from other financial advisors. Anastasia asks whether investing in index funds is useful advice and Bill explains his active approach and how he avoids "diworsification."
Special Announcement: We are offering a free 45 minute consultation session covering any financially related questions to one person who rates, reviews, and follows our podcast, Creating Wealth. First, visit Apple Podcasts and search for our show. Click the "+" button in the top right-hand corner to follow the show. Then scroll down to the bottom until you reach Ratings & Reviews. Click one of the five stars and leave a rating. Tap "Write a Review" to review the show. Finally, take a screenshot of your review and send it to our email address: askcreatingwealth@taberasset.com.
Be sure to send any questions or comments to our email.
What has been the impact of rising interest rates on the economy? Will a recession happen and when? Should you buy a house now or wait until interest rates go back down? Bill and Anastasia revisit a topic covered in "Why Are Interest Rates Important to Investors?" from December 2021 to discuss the Federal Reserve's actions this year and their plans to continue bringing inflation down. Anastasia discusses a recent documentary she watched on Hulu called "Bitterbrush" and wonders if cereal will ever cost less than $6 a box at her local grocery store.
To submit questions or topics to the podcast, you can email us at askcreatingwealth@taberasset.com.
Bill and Anastasia expand on a recent blog post on www.taberasset.com titled "How I Invest My Own Money" to provide three money management tips before discussing how Bill manages his own investments, which is the same approach he applies to clients' portfolios. Anastasia relates Bill's concepts to the Netflix reality TV show Bling Empire and George R.R. Martin's writing style.
To submit questions to the podcast or send comments on current episodes, you can email us at askcreatingwealth@taberasset.com.
In Part Two of this two part episode series, Bill and Anastasia continue to discuss findings from The Millionaire Next Door and its follow-up, The Next Millionaire Next Door by Thomas Stanley and his daughter, Sarah Stanley Fallaw.
Which of the following three variables is the best predictor of consumption - income, net worth, or market value of your home? What kind of cars do millionaires drive and why is that important? Is a million dollars "enough" anymore? Are millionaires happier? Bill and Anastasia get a bit more philosophical as they sum up their thoughts on this book and how it relates to creating wealth and the importance of "thinking abundantly."
For questions or comments, you can email us at askcreatingwealth@taberasset.com
In Part One of this two part episode series, Bill and Anastasia discuss findings from The Millionaire Next Door and its follow-up, The Next Millionaire Next Door by Thomas Stanley and his daughter, Sarah Stanley Fallaw.
Is wealth creation really about spending control, or how much wealth you start out with? Bill and Anastasia define and cover characteristics of "the millionaire next door" and what to emulate. Anastasia mentions six key behaviors that lead to wealth accumulation. Why do millionaires refrain from telling their children how wealthy they are? Bill and Anastasia talk about their social media use and Anastasia finds an excuse to talk about Gilmore Girls again when discussing the importance of critics in a millionaire's life.
For questions and comments, you can email us at askcreatingwealth@taberassset.com
In Part One of this two part episode series, Bill and Anastasia discuss findings from The Millionaire Next Door and its follow-up, The Next Millionaire Next Door by Thomas Stanley and his daughter, Sarah Stanley Fallaw.
Is wealth creation really about spending control, or how much wealth you start out with? Bill and Anastasia define and cover characteristics of "the millionaire next door" and what to emulate. Anastasia mentions six key behaviors that lead to wealth accumulation. Why do millionaires refrain from telling their children how wealthy they are? Bill and Anastasia talk about their social media use and Anastasia finds an excuse to talk about Gilmore Girls again when discussing the importance of critics in a millionaire's life.
For questions and comments, you can email us at askcreatingwealth@taberassset.com
In Part One of this two part episode series, Bill and Anastasia discuss findings from The Millionaire Next Door and its follow-up, The Next Millionaire Next Door by Thomas Stanley and his daughter, Sarah Stanley Fallaw.
Is wealth creation really about spending control, or how much wealth you start out with? Bill and Anastasia define and cover characteristics of "the millionaire next door" and what to emulate. Anastasia mentions six key behaviors that lead to wealth accumulation. Why do millionaires refrain from telling their children how wealthy they are? Bill and Anastasia talk about their social media use and Anastasia finds an excuse to talk about Gilmore Girls again when discussing the importance of critics in a millionaire's life.
For questions and comments, you can email us at askcreatingwealth@taberassset.com
In this episode, Anastasia shares the breadth of research she compiled on maternity leave policy in the United States. What is the Family Medical Leave Act (FMLA)? How does family leave policy differ in the U.S. from other countries? What are the benefits of maternity leave? What should you look for in a parental leave policy? Is it generally paid or unpaid, how long is it, and is it flexible when it can be taken? When should you look into maternity leave policies offered by employers?
If you have questions or comments, you can email us at askcreatingwealth@taberasset.com.
In this episode, Anastasia shares the breadth of research she compiled on maternity leave policy in the United States. What is the Family Medical Leave Act (FMLA)? How does family leave policy differ in the U.S. from other countries? What are the benefits of maternity leave? What should you look for in a parental leave policy? Is it generally paid or unpaid, how long is it, and is it flexible when it can be taken? When should you look into maternity leave policies offered by employers?
If you have questions or comments, you can email us at askcreatingwealth@taberasset.com.
Anastasia and Bill cover the psychology of investing aka behavioral finance. Anastasia explains how behavioral finance differs from traditional finance, and Modern Portfolio Theory, before diving into a discussion of common biases and how they can affect individual investors' decisions. Why is it important to be aware of potential biases? Bill relates several biases to what he has seen in his career and offers advice for investors. Anastasia talks about credit card points and why you should be aware of mental accounting.
To submit questions to the podcast or send comments on current episodes, you can email us at askcreatingwealth@taberasset.com.
Bill and Anastasia cover a listener requested topic regarding the student loan debt crisis in the U.S. They tackle this issue through the lens of financial advisors looking at it on a macroeconomic scale--addressing how student loans grew into a crisis, the contributing factors, consequences, potential solutions, and what they think consumers should know. Bill and Anastasia debate the policy suggestion of forgiving student loans - is the immediate relief worth it and/or will it address the underlying issues which caused the crisis? Anastasia describes the problems with the public service loan forgiveness program and whether it's worth trying to get loans forgiven.
If you have any questions or comments, please email us at askcreatingwealth@taberasset.com
There are over 200 designations and certifications that a financial services representative can hold, making it difficult for consumers to understand the differences between them. When did advisor credentials become so popular and why? What is the difference between a securities license and a certification? What should you be aware of when hiring a financial services rep? Anastasia explains the basics of several security licenses and a few major financial designations you may come across when looking to hire an advisor.
Anastasia and Bill also discuss the fiduciary standard and cover what you should know about fee-only vs. fee-based advisors.
If you have any questions or comments, please email us at askcreatingwealth@taberasset.com
Bill and Anastasia cover a concept everyone is familiar with but might not know how to explain - specifically, what are corporations? How are they related to other business entities like sole proprietorships, LLCs, LPs, etc? Who runs a corporation? What's the difference between a CEO, a COO, and a CFO? What power do shareholders have? Bill also provides insight into what he considers about a corporation before he decides to invest in one.
From a moral standpoint, are corporations only incentivized to make profits to keep shareholders happy? How much difference does a CEO have on making ethical or environmentally-friendly decisions? Do corporations deserve a bad rap?
For comments and questions, you can email us at askcreatingwealth@taberasset.com.
From the perspective of a financial advisor, Bill and Anastasia tackle the meaty topic of U.S. health care in this two-part episode series. In Part Two, Bill offers strategies that consumers can use to help mitigate the cost of health care. Bill and Anastasia touch on different health insurance options and the benefits of a HSA (Health Savings Account).
If you haven't yet, be sure to listen to Part One before starting this episode. In Part One, Bill covers reasons why the U.S. spends more on health care per capita than any country in the world. Additionally, why are Anastasia's friends receiving bills before insurance kicks in of $38,000+ for a baby delivery without complications? Why is insulin so expensive when the inventor originally sold the patent for $1?
For comments and questions, you can email us at askcreatingwealth@taberasset.com.
From the perspective of a financial advisor, Bill and Anastasia tackle the meaty topic of U.S. health care in this two-part episode series. In Part One, Bill covers reasons why the U.S. spends more on health care per capita than any country in the world. Additionally, why are Anastasia's friends receiving bills before insurance kicks in of $38,000+ for a baby delivery without complications? Why is insulin so expensive when the inventor originally sold the patent for $1?
Bill relates his experience serving on the board of a local hospital. For 25 years, Bill served Broadlawns Medical Center, the publicly owned community hospital in Polk County, Iowa (the Greater Des Moines Metro Area) - 11 years as a non-paid publicly elected member of the Board of Trustees, including three years as Board Chair, and 14 years in an advisory role to the Board's Finance Committee. Bill has been credited with being the "architect of the turnaround" at the hospital, designing a plan that led to higher quality care at a more affordable price for all of Polk County citizens.
Be sure to check out the rest of this topic, including strategies consumers can use to mitigate health care costs, during Part Two in two weeks!
For comments and questions, you can email us at askcreatingwealth@taberasset.com.
With the recent stock market volatility, Bill and Anastasia set out to provide some perspective on persevering during the ups and downs. Bill discusses how investors and the overall market are feeling, how he is feeling personally, and how this volatile period compares to the rest of his career. Bill analogizes Mito Pereira's recent PGA Championship loss to what is needed to weather difficult markets, and addresses whether investors should change their strategy at this time.
To submit questions to the podcast or send comments on current episodes, you can email us at askcreatingwealth@taberasset.com.
Bill explains the basic concept behind inflation, why core CPI is lower than actual inflation, how often inflation occurs, and how governments may stop it, before outlining steps that individuals can take to reduce the impact of inflation on their budgets. Bill answers the question of whether investing in the stock market is still a good way to combat inflation while markets are trending downward. Anastasia discusses how inflation has been impacting her household's budget and choices.
To submit questions to the podcast or send comments on current episodes, you can email us at askcreatingwealth@taberasset.com.
Bill and Anastasia continue answering listener questions in this second of a two-part series. In Part Two, they discuss what to do if your significant other has different spending priorities, why a 401(k) plan is named "401(k)," how to know whether you are saving enough for retirement, when is a good time to set up a checking or savings account for children, and what exactly is an inverted yield curve and does it reliably predict recessions?
Bill and Anastasia have covered each of these topics generally in previous episodes, but it can help to hear how others are applying these concepts in specific situations. For relevant former episodes to today's questions, check out "Discussing Finances With Your Life Partner," "When Can You Retire?" "Discussing Finances With Family," and "Bonds 101."
To submit your own question for a future episode, you can email us at askcreatingwealth@taberasset.com.
Bill and Anastasia tackle several questions from listeners in this two-part series. In Part One, they discuss rolling over a 401(k) account, how to prioritize credit card repayment, contributing to a Roth vs. a traditional IRA and how to prioritize contributions to various retirement accounts, and whether to get a second credit card.
Bill and Anastasia have covered each of these topics generally in previous episodes, but it can help to hear how others are applying these concepts in specific situations. For relevant former episodes to today's questions, check out "How to Manage Your 401(k)," "Pay Off Debt vs. Start Investing," "Investing in Common Stock" two-parter, and "What Should You Know About Credit Scores?"
To submit your own question for a future episode, you can email us at askcreatingwealth@taberasset.com.
Bill and Anastasia discuss the many different kinds of stocks (stalks?) out there.
For questions and comments, you can email us at askcreatingwealth@taberasset.com.
What are paper hands versus diamond hands, and is it effective to think in these terms when it comes to investing? Bill and Anastasia use these terms to dive into several recent questions they've been receiving from nervous or curious investors. Should you change your investment strategy in anticipation of a downturn? Are there certain strategies that work better in an upmarket than a down-market? How much can outside events, like war, affect the stock markets? Bill wraps up the discussion with some investing truths that have worked for him. Anastasia mentions the "Blade Runner curse" that plagued many corporations after the release of the 1982 movie starring Harrison Ford.
If you like this episode, consider listening to (or re-listening to) previous episodes, "The Rise of GameStop (GME) Stock" from February 2021 and "Is Investing in the Stock Market the Same as Gambling?" from September 2021.
For questions and comments, please email us at askcreatingwealth@taberasset.com
What should you know about credit scores? What actually affects your credit score, and what doesn't? Bill and Anastasia dive into the evolution of credit lending and offer advice and information for those with credit or looking to start.
Bill and Anastasia also briefly covered this topic in "Life Advice From Financial Experts," as well as the pros and cons of credit cards in "Cash vs. Credit," so be sure to check out those episodes if you haven't already.
For questions and comments, please email us at askcreatingwealth@taberasset.com.
Bill and Anastasia take advantage of Anastasia's recent personal experience to talk weddings. How much money do you need to plan a wedding? What vendors do you need and how much do they cost on average? How do you find out if your family will help pay for the wedding? How do you prioritize the cost of a wedding vs. a down payment on a first home? What items are worth spending more on, what are worth spending less on? How do you resolve a situation where your partner prioritizes a decision differently than you? Anastasia discusses takeaways from her experience hosting a wedding during a pandemic.
For questions and comments, you can email us at askcreatingwealth@taberasset.com.
Bill and Anastasia answer questions they have been receiving from individuals recently related to the U.S. stock market downturn in January 2022. Was the market drop a correction and how often does this happen? What does the level of volatility in the market mean for you? Is it time to buy the dip? Why are these questions arising now? Bill and Anastasia also address the recent Bitcoin downturn and what that might mean for crypto moving forward.
With the U.S. national debt over $30 trillion, now may be a good time to check out Creating Wealth's "National Debt" episode if you haven't already.
For questions and comments, you can email us at askcreatingwealth@taberasset.com.
In this follow up to last year's episode, "Forming an Annual Budget," Bill and Anastasia cover more tools that are available for budgeting. What is an income statement, balance sheet, and cash flow statement, and why are these important in creating a budget? Bill and Anastasia also discuss what software programs they prefer to use and tips for those who have gotten a year or more of budgeting under their belts.
For other episodes on budgeting, you can check out "Budgeting," "Spending Control" and "Forming an Annual Budget."
For questions and comments, you can email us at askcreatingwealth@taberasset.com.
When can you retire? What savings rate is needed to achieve a secure retirement? What impact will Social Security have on your retirement? What are the different retirement accounts that may be available to you? How do you balance other life expenses with saving for retirement, and how should you prioritize them? Bill relates his answers to his decades of providing advice to individuals nearing or entering retirement. Anastasia "OK Boomer"s Bill for the first time on this podcast, but don't worry, it was all in good fun. For those looking to plan ahead for life in retirement, Bill recommends reading What Color is Your Parachute? For Retirement, by John Nelson and Richard Bolles.
For questions and comments, you can email us at askcreatingwealth@taberasset.com.
In practice of having an abundance mindset, Bill and Anastasia return to their end of year tradition in taking stock of what they and others are grateful for in the past year.
A special thanks to those who shared their messages of gratitude with Creating Wealth, and to healthcare workers who continue to save lives.
For questions and comments, you can email us at askcreatingwealth@taberasset.com.
Happy Holidays!
What is an interest rate and why do investors pay close attention to them? In this episode, Bill and Anastasia discuss how interest rates affect stocks, bonds, and how the Federal Reserve's actions impact the broader economy. They cover what is going on with today's interest rates, how that compares to the historical average, and what investors should keep in mind with the Fed's announced interest rate increases for 2022. Bill discusses AMC stock and Anastasia mentions how she guest starred on a friend's Dungeons and Dragons podcast, playing a "financial wizard." Bill and Anastasia also invite listeners to submit their messages of gratitude for the next and last episode of 2021. You can send in what you are thankful for this year to askcreatingwealth@taberasset.com by Thursday, December 16. For an example of how this was done, check out last year's episode "Hindsight is 2020."
To listen to Anastasia's guest star spot on the D&D podcast, check out Adequately Advanced Magic, specifically the Bonus Episodes titled "Taco-y Financial Relations."
This is a continuation of the conversation on investing styles from the previous episode (How Do You Invest?). In this second part, Bill and Anastasia cover several other concepts - sector funds, dollar cost averaging, margin of safety. And investing styles including momentum and contrarian investing. They discuss the importance of where you get your information - Bill shares a few sources he uses to analyze investment opportunities and Anastasia explains why you should take advice from anonymous internet commenters with a grain of salt. They end the discussion with Bill's advice on sticking with an investment style through a full market cycle.
If you haven't listened to the previous episode, "How Do You Invest?" be sure to do so before starting this one.
For questions and comments, you can email us at askcreatingwealth@taberasset.com.
When it comes to investing, what are your guiding principles? Bill and Anastasia discuss several different investing strategies including value vs. growth investing, active vs. passive investing, and using fundamental vs. technical analysis to determine the value of a stock. Bill provides perspective on the current strong bull market and whether value investing is possible right now. He explains what type of investing analysis he prefers to do and how to determine what investing style best suits you. There was a lot to discuss, so Bill and Anastasia will continue the conversation in the next episode to cover additional popular investing strategies.
For questions and comments, you can email us at askcreatingwealth@taberasset.com.
What are the common obstacles that small business owners face? This is the second of a two-part series on starting and running your own business with special guest speaker, Bob Clements--Cofounder, Partner, and General Counsel of Benchmark Business Group. Part Two covers the obstacles that owners typically face as their business grows: For example, a lack of funds, lack of time, trouble managing employees, and marketing. Bob discusses his practical tips for those seeking to build a lasting business. Be sure to check out Part One before you dive into this episode. If you are interested in working with Bob on your business, you can find him online at www.benchmarkbusinessgroup.com or by phone: (515) 288-6984.
For questions and comments, you can email us at askcreatingwealth@taberasset.com.
This is a two-part series on starting and running your own business with a special guest speaker, Bob Clements--Cofounder, Partner, and General Counsel of Benchmark Business Group. Part One covers what people should consider if they want to start their own business. Why would an individual prefer to be self-employed vs. work for someone else? In what situations does being self-employed make sense, and when does it not work? Why do so many small businesses fail, and what makes the successful ventures different? Bob explains what business owners should focus on in the beginning stages, informed by his decades of successful business coaching and consulting. If you are interested in working with Bob on your business, you can find him online at www.benchmarkbusinessgroup.com or by phone: (515) 288-6984.
For questions and comments, you can email us at askcreatingwealth@taberasset.com.
What is going on in the stock market? Before diving into the topic, Anastasia provides news updates relating to topics discussed in previous episodes: The Rise of GameStop (GME) Stock, Investing in Common Stock Part Two, and How to Pay for College. Bill and Anastasia then discuss inflation concerns, what the autumnal dip is and why it happens, the effects of crypto trading on the markets and how much we should pay attention to China. Bill provides some very important long-term prospective for investors and Anastasia brings up a conversation she had while getting scuba-certified.
For questions and comments, you can email us at askcreatingwealth@taberasset.com.
How can you fund attending college in the U.S.? Bill and Anastasia first discuss reasons why an individual should attend college and when they shouldn't, before launching into a discussion of the various ways you can save or pay for college if you are a U.S. citizen. How does FAFSA work? What type of student loans are available? How and when should you begin saving for a child's or grandchild's college education? Bill discusses how he set the expectation early for his children to attend college and Anastasia mentions a controversy in a recent episode of a (guilty pleasure) reality TV show. For questions and comments, you can email us at askcreatingwealth@taberasset.com.
Is investing the same as gambling? Bill and Anastasia dive into a topic that has come up in separate conversations with millennials about cryptocurrency trading. They start by defining investing, gambling, and speculating, then launch into a discussion of casino gambling, sports betting, why people may conflate investing with gambling, and why the rise of Bitcoin seems to be affecting how millennials view the stock market. Anastasia discusses risk tolerance and the importance of beating inflation. Bill provides long-term perspective on speculative bubbles and his thoughts on the bull market we've been living in since 2009. For more information:
-If you have not listened to Creating Wealth's two-parter on Cryptocurrency Explained or Risk Tolerance, these make good companion episodes to this one.
-Bill also highly recommends two books: Reminiscences of a Stock Operator by Edwin Lefevre and Extraordinary Popular Delusions and Madness of Crowds by Charles Mackay.
For questions and comments, you can email us at askcreatingwealth@taberasset.com.
What are the common financial concerns of those in their 60s and 70s? Bill and Anastasia tackle the third and final life stage to discuss common questions that individuals ask before, during, or after retirement. How should you balance your portfolio in this life stage? How do you receive Social Security benefits - do you have to register for it? As your health expenses typically increase in this age, how much can you expect Medicare to cover? When should I consider selling my house and downsizing to a smaller space, or moving to a retirement home? How should I plan to assist children or grandchildren with expenses (education, weddings, etc)? And the question on everyone's minds: When do you have enough money to retire? If you haven't yet, be sure to check out our previous two related episodes, Financial Challenges of Your 20s and 30s and Financial Challenges of Your 40s and 50s. For questions and comments, you can email us at askcreatingwealth@taberasset.com.
What are the common financial concerns of those in their 40s and 50s? Bill and Anastasia tackle the second of three life stages to discuss common questions that individuals ask in the middle of adulthood, sometimes called "The Sandwich Generation." How do you balance a family budget of food, utilities, travel, child care costs, assisting any aging family members, etc? How might you manage moving to a bigger home or more desirable school district? What should you be doing at this stage to prepare for retirement? When should you start preparing for end-of-life care and when should you update your will or estate plan? Bill and Anastasia swap stories of mediocre supervisors. Anastasia attempts to explain the purpose of pet insurance to Bill.
If you haven't yet, be sure to check out our previous episode, Financial Challenges of Your 20s and 30s. For questions and comments, you can email us at askcreatingwealth@taberasset.com.
What are the common financial concerns of those in their 20s and 30s? Bill and Anastasia tackle the first of three life stages to discuss common questions that individuals ask at the beginning of adulthood. When should you start saving for retirement? When you get married, how do you merge financial assets? If you have kids, how should you start funding their education? When should you write a will? In a callback to the previous episode, how important is it in terms of wealth creation to buy a home and stop renting? Bill counsels on how to avoid a mid-life crisis and Anastasia jokes about what happens when paying the restaurant bill.
For questions and comments, you can email us at askcreatingwealth@taberasset.com.
How do you buy a home and how do you know when you are ready to do so? What matters more - your credit score or the amount of money you have saved up? Should you base any decisions on macroeconomic trends--for example, wait to buy in an overheated market? Anastasia and Bill discuss housing ratios to determine what you can afford, what contingencies are and what you might use them for, and how much you should leave in your bank account when all is said and done. Anastasia bought a house during the pandemic so breaks down the process for anyone wondering how she went about it. For questions and comments, you can email us at askcreatingwealth@taberasset.com.
In the last few years, cryptocurrency has become a full blown phenomenon. In Part Two, Bill and Anastasia discuss listeners' questions on the tax ramifications and liquidity of cryptocurrencies, and where they see cryptocurrency going from here. Stay tuned: Anastasia makes an important announcement near the end of their discussion.
Since this is a two-part episode, be sure to check out Part One first if you haven't listened to it yet.
For questions and comments, you can email askcreatingwealth@taberasset.com.
In the last few years, cryptocurrency has become a full-blown phenomenon. Bill and Anastasia discuss Bitcoin and what makes people so excited, and concerned, about cryptocurrencies. Bill answers what makes cryptocurrency valuable and why it's different from any financial product he's ever seen before in his 42 year career.
There was so much to cover that we had to split the episode. Part Two will come out in two weeks.
For questions and comments, you can email us at askcreatingwealth@taberasset.com.
What is the difference between income and wealth, and why is it fundamental to understanding wealth creation? What do people get wrong by focusing on income instead of wealth? Bill talks about the importance of building wealth for retirement and reiterates a formula introduced in the Season One episode "Spending Control" for determining how much your net worth should be by age, how to find out what you will receive in Social Security in retirement, and how much you will need in order to retire. Bill shares an example from his career of what can happen when you aren't focused on wealth and Anastasia finds a way to talk about Gilmore Girls again.
For questions and comments, you can email us at askcreatingwealth@taberasset.com. Be sure to send us questions for our upcoming episode on cryptocurrencies.
What happens in the aftermath of a parent's death? What is an executor and what are they responsible for? How different is it to work with a non-family executor versus a family member who acts as one? How different is the process when a parent dies with a living spouse than when a widow/widower dies? Bill and Anastasia discuss the myriad of questions that may come up in the aftermath of a parent's death and what you can do ahead of time to help ease what can be a very difficult and emotional process.
For questions or comments, please email us at askcreatingwealth@taberasset.com.
On TV, a lack of money is often used as an obstacle to challenge characters. Anastasia describes the money problems of characters in TV shows Breaking Bad, The Office, Gilmore Girls, etc and Bill suggests possibilities that the characters could have considered to avoid or resolve their financial difficulties, providing a few takeaways for real, non-fictional listeners.
If you have any questions for the podcast, please send them to askcreatingwealth@taberasset.com.
What is a tax and its purpose? What are the benefits of taxes? Bill and Anastasia discuss the major forms of taxes in the U.S. and what you should know about each one. Why do some states have income tax and others don't? Bill discusses from a financial advisor's perspective when you should file your own taxes and when to hire a tax expert.
For questions and comments, you can email us at askcreatingwealth@taberasset.com.
Bill and Anastasia discuss when they first heard of bonds, which bonds are the riskiest, which bonds are short-term, medium-term, and long-term, and what is important to know about those bonds.
For questions and comments, you can email us at askcreatingwealth@taberasset.com.
What are four simple actions you can take to increase your savings rate? Why is focusing on your savings rate so important? Do younger people struggle more with saving or is it a challenge for all ages? Bill provides an example from his career of someone who was frugal and diligent with budgeting. As the world exits the pandemic era, what should you keep in mind as our spending habits change again (and likely increase)?
For questions and comments, you can email us at askcreatingwealth@taberasset.com.
What is the purpose of a national stimulus and why should individuals care about it? When has the U.S. done a national stimulus before? Bill mentions when a stimulus is helpful and what investors need to keep in mind about economic cycles. Anastasia discusses an update to the conclusion of Creating Wealth's National Debt episode.
For questions and comments, you can email us at askcreatingwealth@taberasset.com.
What are bonds and why do people invest in them? What should you keep in mind when investing in bonds and can you have a successful investment strategy without them? Bill discusses periods of rising interest rates, Puerto Rico municipal bonds after Hurricane Maria in 2017, and mortgage bonds during the Great Recession of 2008/2009 as examples when bonds can involve risk.
For questions and comments, you can email us at askcreatingwealth@taberasset.com.
Bill applies his perspective of decades as an investment advisor to what happened with GameStop (GME-nyse) stock in late January 2021. What fueled the rise of GME? What made the event so unique and what are the implications for the financial industry moving forward? Bill compares GME stock to what happened with tulips in the Netherlands in the 1600s. Anastasia relates one of the most poignant moments in the film, The Big Short, to the anger that fueled many retail investors' decision to buy GME stock.
For questions and comments, you can email us at askcreatingwealth@taberasset.com.
What is a trade deficit and should individuals be concerned if their country has a high trade deficit? What should the average citizen consider when it comes to how trade functions in their country and in the world? Bill and Anastasia discuss bilateral vs. multilateral trade deals, and also notable current and future trends in U.S. trade.
For questions and comments, you can email us at askcreatingwealth@taberasset.com.
Bill and Anastasia return to one of their favorite topics to discuss what goes into forming an annual household budget. How do you create a yearly budget? How do you budget for specific goals like going on a long vacation or a house renovation project? As a future-oriented thinker, Bill explains how he starts by visualizing goals before he sits down to crunch the numbers. Anastasia mentions her husband's latest attic project, which had some unanticipated consequences.
For questions and comments, you can email us at askcreatingwealth@taberasset.com.
2020 has been a difficult year for most, and also an incredible year of change. As a practice in the abundance mindset, Bill and Anastasia read messages of gratitude in the past year from listeners and discuss what they are thankful for in a year that has thrown many curve balls.
A special thanks to those who contributed a message, and to the many frontline workers and countless others who have made sacrifices to help their neighbors stay safe, healthy, and connected.
For questions and comments, you can email us at askcreatingwealth@taberasset.com.
What should you be doing to manage your 401(k)? How does active vs. passive investing apply to your retirement accounts? Bill provides some historical context for the rise of the 401(k) plan and a few important takeaways when it comes to saving for retirement. Anastasia discusses the various employer sponsored 401(k) presentations she's sat through and Bill gives his thoughts on the oft recommended "target date fund."
For questions and comments, you can email us at askcreatingwealth@taberasset.com.
Bill and Anastasia answer a listener question about credit reports before diving into a free-form discussion based on financial and lifestyle tips from famous experts known for their financial prowess. Bill talks about his career and finally achieving a role he loved. They discuss how hard work early in a career can open up opportunities later in life. Anastasia connects the Great British Bake-Off to the power of positive mindset. And of course, Yoda.
For questions and comments, you can email us at askcreatingwealth@taberasset.com.
When should we focus on paying off debt and when can we start investing? Are there certain loans you need to pay down before you can really start putting money away towards investments? Bill and Anastasia discuss a common sentiment expressed by younger generations who are eager to build wealth and how to figure out what to prioritize. Bill mentions what the debt experts have to say on the topic. Anastasia relates what she learned helping friends through budgeting.
If you haven't yet, be sure to check out other related episodes - Intro to Investing, Investing in Common Stock Part One and Part Two.
For questions and comments, you can email us at askcreatingwealth@taberasset.com.
How important is thinking positively when it comes to creating wealth? How can you retrain your brain to think abundantly? In this follow-up to the third episode, "Having an Abundance Mentality," Bill and Anastasia discuss what it takes to think positively about your finances. Bill mentions examples of negative thoughts you or family members may have about wealth and how to address them. Anastasia suggests negative news can influence how you view wealth creation and admits that social media ads have sometimes worked on her.
For questions and comments, you can email us at askcreatingwealth@taberasset.com.
What kind of insurance policies can you buy and why should you have them? Are there policies you should avoid, or insurance that is only needed at certain points in your life? Both Bill and Anastasia share anecdotes from their careers. Anastasia somewhat reluctantly shares why she is glad she had wedding ring insurance and discusses the Taber curse.
For questions and comments, you can email us at askcreatingwealth@taberasset.com.
What does risk tolerance mean and how important is it in forming your investment strategy? What should you keep in mind as you start to invest? How do you know when to listen to your gut feeling about an investment decision and when not to? Bill discusses at what point after the 2008-2009 financial crisis that he knew the financial markets were about to improve. Anastasia compares risk tolerance to the entertaining documentary, Class Action Park.
For questions and comments, you can email us at askcreatingwealth@taberasset.com.
How does Bill advise his clients when it comes to paying for adult children? What are the pros and cons of continuing to financially support children into adulthood? And for children, how important is it to discuss finances with parents, and when should that discussion begin? On the other hand, how do parents instill a sense of financial independence if their children know they can afford to pay for them without risking financial hardship? Bill provides anecdotes from his career and Anastasia compares the effects of family wealth on children to the fictional family depicted in the HBO show Succession.
For questions and comments, you can email us at askcreatingwealth@taberasset.com.
Which should you focus more on for wealth creation: Spending less money, or making more money? Bill and Anastasia discuss an example of buying a used car, as depicted in The Millionaire Next Door by Thomas J. Stanley. How important is it to learn how to spend less money? What are some examples of simple ways to save money? On the other hand, can you be too focused on saving money? Bill provides context to these questions from advising clients over the years.
What are the benefits of paying with a credit card vs. paying with cash? As society transitions to more and more cashless based transactions, what are some important things to keep in mind as a consumer? Bill gives a brief overview of the history of the credit card industry, discusses the pros and cons of using credit cards, and Anastasia mentions what one of her favorite science fiction writers, Margaret Atwood, has to say about living in a cashless society.
What should high income earners do once they have maxed out their tax advantaged accounts? What is a back door Roth? In what scenario should you invest in the stock market yourself and when should you consider hiring an investment manager? Bill and Anastasia continue their discussion from Investing in Common Stock, Part One to answer more specific questions about how young high income earners can optimize wealth building.
Be sure to check out Investing in Common Stock, Part One before listening to this episode.
For questions and comments, you can email us at askcreatingwealth@taberasset.com.
How do you invest in the stock market and what is really important to keep in mind as you do? Bill and Anastasia follow up on the Intro to Investing episode with specific questions related to how an investor should approach the stock market and how to get started. Bill analogizes his favorite sport baseball to common stock selection. This is Part One of a longer discussion between Bill and Anastasia.
For questions and comments, you can email us at askcreatingwealth@taberasset.com.
What are the different kinds of financial professionals you can work with and how are they compensated? Bill and Anastasia discuss the duties of a financial planner, investment manager, asset manager, and wealth manager, as well as the differences between a Registered Investment Advisor (RIA) and a broker. This episode serves as a basic introduction to the financial services industry.
For questions and comments, you can email us at askcreatingwealth@taberasset.com.
How do you approach a discussion of financial habits and goals with your life partner? Bill and Anastasia discuss the importance of being on the same financial page with your partner and what that might look like. What if one person is a saver and the other is a spender? Bill describes some of the obstacles he has seen couples face and his joy in being a father.
For questions and comments, you can email us at askcreatingwealth@taberasset.com.
Everyone has a vague awareness that the U.S. national debt is a problem, but exactly how big of a problem is it and what does it mean for the average citizen? Bill and Anastasia discuss how the pandemic has exacerbated the issue and what steps people can take to address it.
For those wanting a refresher on how the economy works, Bill mentions a highly informative 30 minute video done by Mr. Ray Dalio on economicprinciples.org. Mr. Dalio also participated in an April 2020 TED Talk on how the pandemic is affecting the global economy, available to view on ted.com.
For questions and comments, you can email us at askcreatingwealth@taberasset.com.
Bill and Anastasia discuss the basics of owning a savings account--the first step to building wealth. What is the difference between a savings account, a checking account, and an investment account and what should you use them for? What does it mean if your account is FDIC insured? What do you need to know about the different savings accounts you can own (e.g.- a money market fund) and what do they mean? Why do some banks offer better interest rates?
For questions and comments, you can email us at askcreatingwealth@taberasset.com.
How do you begin the practice of investing if you're new to it? Bill and Anastasia discuss the basics: How to get started with investments, when to hire an investment advisor (the three Ts), and why younger generations especially need to contribute to a 401(k) or other retirement savings account.
For questions and comments, you can email us at askcreatingwealth@taberasset.com.
What is having an abundance mentality and how does it relate to your finances? Bill and Anastasia discuss how thinking abundantly, or positively about money, can set you up for financial success. Bill shares a time in his life when he discovered the importance of having an abundance mentality and Anastasia shares her experience of thinking positively during her first ski lesson.
For questions and comments, you can email us at askcreatingwealth@taberasset.com.
The COVID-19 pandemic has raised a series of questions of how people should approach personal finance. In this special episode, Bill and Anastasia discuss how their quarantines are going, how people should handle their finances during this time, and provide perspective on how this economic crisis relates to past ones.
For questions and comments, you can email us at askcreatingwealth@taberasset.com.
When you're new to budgeting, it's hard to know how to get started. Bill and Anastasia provide insight in how to approach budgeting if you're new to the practice, or offer a refresher for more experienced budgeters.
For questions and comments, you can email us at askcreatingwealth@taberasset.com.