The Live Richly Podcast: Recent Episodes
The Live Richly Podcast
“Live Richly” is a personal finance podcast meeting you at the intersection where life meets money. Join CERTIFIED FINANCIAL PLANNER TM John Hagensen as he discusses faith, family, and finances.
There’s a lot of noise out there when it comes to your finances. Join host John Hagensen and his guests from independent RIA Creative Planning as they cut through the headlines and loud takes to challenge the advice you may have been given and reaffirm what you know to be true. A Managing Director at Creative Planning and long-time host of the Rethink Your Money radio show, John aims to provide the most up-to-date information and freshest thinking on investing, taxes, estate planning and many other areas that impact your financial life.
Make sure to subscribe on our new feed: Apple: https://podcasts.apple.com/us/podcast/rethink-your-money/id1638978691 Spotify: https://open.spotify.com/show/2Gm52JeNme9b49SfXyVZkL
Important Legal Disclosure: https://protect-us.mimecast.com/s/X1EPC73yBLCVMQGNfNJ-eK?domain=creativeplanning.com/
Have questions or topic suggestions? Email us @ podcasts@creativeplanning.com
John has an exciting new podcast in development that is set to launch later this year! While "Live Richly" as you know it is going away, do not unsubscribe so that you will be notified when the new show is available. Thank you for the past several years of our discussion around life meeting money!
On today's podcast, John discusses a variety of topics around the recent market volatility.
On today's podcast John discusses the following topics:
Goals don't equal desired outcomes. Structure trumps discipline. Matthew 6:34 Often the best move is no move. Certainty isn't all that it's cracked up to be. ARK's fall from grace Life settlements. 2020 was a stock pickers dream scenario and 2021 had historically low negative volatility.
Sources: Jason Zweig. The Wall Street Journal. Craig Groeschel. Morningstar. Ben Carlson.
On today's podcast, John discusses the following:
- Legitimate diversification
- What an investor's goal for returns should be
- Proverbs 12:15 and 24:6
- Betterment shows how valuable nudges can be for investor behavior.
- Rule of 55
- How to best predict your future behavior
- Why the government is paralyzed by the advancement of crypto.
- Is 2020's fiscal and monetary response representative of a new playbook?
Sources: The Daily Wire, Morgan Housel, Morningstar, Kiplinger.com
Today's podcast hits on how to pivot into an incredible 2022 and how to learn from 2021.
Sources: HumbleDollar.com, IrrelevantInvestor.com
Today's podcast discusses the 4 key differences for accumulating and retaining wealth.
Sources: JP Morgan, Morningstar, Fox Business, CNBC, diffen.com, Department of Labor
On today's podcast John discusses a dozen money moves to consider prior to retirement.
Sources: Kiplinger.com
Today's Thanksgiving Day podcast hits on the following:
-Turkey Bowl Injuries
-1 Chronicles 16:34. Give Thanks in All Things
-Kiplinger Financial Topics for Thanksgiving Weekend
-10 Little Known Thanksgiving Facts
Sources: Kiplinger.com, Bestlifeonline.com, WSJ, Morningstar
Today's FBomb hits on a variety of considerations to potentially reduce your taxes.
Sources: TurboTax.com, Kiplinger, Morningstar
Today's F-Bomb discusses the following:
-
Happy Veteran's Day
-
The Stock Market Says the Pandemic is Over
-
Gold is Still Awful
-
What's a Simple 401k?
-
457 Plans
-
Be a Scout not a Soldier
-
1 Thessalonians 5:16
-
Money Helps, but Won't Make us Happy
-
10-Year end Moves to Lower Your Taxes
-
Semifinals against our league's "Aaron Rodgers"
Sources: Animal Spirits Podcast, Kiplinger, WSJ, Morningstar
Today's Fbomb discusses the following:
-
Kiplinger.com on the threat of inflation on retirees
-
It's not transitory
-
Rules for money: The Jones' aren't as rich as you think they are.
-
Philippians 4:8
-
The value of meditation and how quieting yourself can lead to a 25B empire (JK Rowling)
-
Estate Planning Scenario. How do joint bank accounts get accessed during a disagreement between the two owners?
-
Business Entity Planning Scenario. How do Partnerships Work?
-
Don't forget about COBRA coverage
-
Retirement Planning Scenario on 60-day rollover rules
-
Most mistakes are due to one or a combination of 3 factors
Sources: Kiplinger, Consumer Reports, Morningstar, Calculatemywealth.com, Dr. Daniel Crosby
Today's FBomb discusses the following:
- Eisenhower Decision Matrix
- The 5 Wrong Questions to Ask your Financial Adviser
- James 1:17. God owns everything.
- Parent Corner
- How mutual funds are taxed and other options
- 4 Big Banks Issue Stock Market Warnings
- How to balance past, present, future for financial success
Sources: Kiplinger, WSJ, Edelman
Today's podcast discusses the following:
-
Forecasts are for weathermen
-
Disneyland is NOT the happiest place on earth
-
Defense wins championships
-
Proverbs 27:17
-
Elevate by changing your reference point
-
28/36 Rule
-
A framework for proper healthy savings rates
-
Women are still better than men at humility
Sources: Kiplinger, David Mclelen, Peter Mallouk, Dr. Daniel Crosby, WSJ, The Ric Edelman Show
Today's F-Bomb discusses the following:
-Longevity in 2021 and the financial implications
-Financial History Review
-Everything Roth IRA (and 401k)
-Rule For Money
-4 Ways to have more satisfaction with your money
-Proverbs 16:16
-Dividends aint what you think they are
Sources: The Long View by Morningstar, Dr. Daniel Crosby, Kiplinger, WSJ
Today's F-Bomb discusses the following:
-Life is more about reactions than actions
-House Ways and Means Committee Tax Proposal
-Schwab caught on their deception
-Ephesians 4:2
-John's NFL week 1 takeaways
-All time highs...so what!?
-Ray Dalio can't figure it out so why can you or I?
-8.3% increase on consumer goods from August-August
-International valuations relative to US have never been more attractive
Sources: WSJ, Charles Schwab, Investment News, USA Today, Forbes, Vanguard
Today's special episode hits on some of John's favorite reads from the past year or two.
Faith: Something Needs to Change - David Platt The Ruthless Elimination of Hurry - John Mark Comer
Family: Play to their Strengths - Brandon and Analyn Miller
Finance: The Psychology of Money - Morgan Housel
Football: The Dynasty - Jeff Benedict
Today's F-Bomb discusses the following:
Confirmation Bias
Delete Social Media
Own It: Your Success is on YOU!
ETFs: The pros and cons
Broker/Dealers won't let antiquated retail mutual funds die the death they deserve
Hometown International Stock
5-Questions to ask when interviewing a financial adviser
Sources: WSJ, Ric Edelman Truth about Your Money, Dave Ramsey, CNBC, Investopedia
Today's FBomb discusses the following:
Preseason football is an awful watch
Gold still stinks
The IRS Dirty Dozen are now available
S&P 500 sizes
Britney Spears conservatorship.
Today's FBomb discusses the following:
Impossible to cancel companies
Student loan moratorium extended
Market froth isn't everywhere
2 Corinthians 9:7
What to expect out of your portfolio
What rate of return do you need to accomplish your goals?
Be aware of your limitations
Once you've accomplished your goals financially...then what?
Sources: The Compound and Friends, WSJ
Today's F-Bomb discusses the following:
-Inflation Soaring
-One decision can answer many others
-Rich Barton founded two monster companies
-Matthew 6:24
-Keep your investing simple
-Farewell Leo Messi
-The enormity of the nation's largest stocks
Today's F-Bomb discusses the following:
-
Vasectomies and frozen peas
-
"The measure of your wealth is how much you'd be worth if you lost all your money."
-
NBA Draft
-
John's Rules for Money: Behavior is Everything
-
Proverbs 22:7
-
Fed Funds Rates
-
Simplification is key
-
Debt and Leverage aren't the same. Dave Ramsey is just flat wrong.
Sources: BlairBellCurve.com, WSJ, Ric Edelman, Morningstar, The Ringer
Today's F-Bomb discusses:
-
Air travel is back
-
Perspective is more important than circumstances
-
Aaron Rodgers needs to reassess how good he has it
-
James 1:11, we're all dying and we can't take it with us
-
1/2 of all Baby Boomers will suffer cognitive decline by age 85.
-
How old is your adviser?
-
Gas prices are highest in 7-years
-
Robinhood's IPO filing
-
How do I know how much risk I should take?
Today's F-bomb discusses the following:
-Artificially boosting wages leads to unintended consequences
-NBA players and NFL QBs make a lot of money because there is low supply and high demand
-$15/hour minimum wage puts more people out of work
-Can yield be increased without additional risk?
-Psalm 82:3
-John Piper says give until you "feel it"
-Who has benefited most during the pandemic
-Charlie Ellis on what it takes to be a good investor
-The amount needed to retire well in today's world
-The best way to purchase an automobile in a seller's market
Sources: Nora Naughton, Orla McAphry - WSJ, JD Power, Michael Batnick, The Daily Wire - Ben Shapiro, The Long View, Morningstar
Today's F-Bomb discusses the following:
-
Family debates
-
Reducing taxes through retirement plans (employee and employer options)
-
Roth vs Traditional
-
Luke 9:23
-
A statistical dive into the financial state of Americans
-
Does debt in some cases make sense?
Sources: Wall Street Journal, Nerd Wallet, Wealthy Nickel, The Long View Podcast, The Standard Deduction Podcast, Morningstar.com
Today's F-Bomb discusses the following:
Unless you are homeless, you need a roof over your head. That's what makes housing a different animal than other wealth creating assets
Suze Orman with another bizarre "crystal ball" assessment
The fundamental reason for housing prices skyrocketing
Apple is now larger than all but 5 countries by market cap
Isaiah 55:8-9
Will rates stay low for decades
Are dividend funds the answer for producing reliable income in retirement
Child Tax Credit explained and who qualifies
How financial advisers get paid
"Frankenstein Firms" are filling up the wealth management space
Sources: The Wall Street Journal, Ben Carlson, Morningstar, Animal Spirits Podcast, The Ric Edelman Show, Peter Mallouk, CNBC.com
Today's F-Bomb discusses:
-Numerous choices don't always lead to better decisions and/or better peace around those decisions.
-401k plan participation suffers in direct correlation to complexity of fund choices.
-To win with gold, historically it comes down to trading it at the right time over short intervals. Buy and hold has lost to both stocks and bonds over the long-haul
-Tax implications of selling a primary residence
-Be encouragers of one another
-Why we may be doing better than we think we are at saving for retirement
-A widow's social security mistake
-The difference between transitory and "real" inflation
-Why you may still want to allocate a bit to bonds in an inflationary environment
Sources: Investopedia, AARP.org, Morningstar's The Long View, Down the Middle Podcast, Andrew Biggs, Deutsche Bank
Today's F-Bomb discusses the following:
-
Hailing an Uber or Lyft is still damn near impossible
-
Kids sticker charts actually work
-
Biden's intention of adding 13T to our national debt the next decade
-
Romans 7:15, 18b,19
-
If inflation arrives, hedge it with a 30-year fixed rate mortgage
-
Lump sum rollover vs systematic pension payment considerations
-
The death of cold calling has arrived
-
How to beneficiary accounts while single or with minor children
-
Commingling ownership of assets with other generations
-
Jim Cramer is an entertainer, not a fiduciary
Sources: Morningstar.com, Dan Ariely, The Wall Street Journal, The Daily Wire Ben Shapiro Show, The New York Times, CNBC
Today's F-Bomb discusses the following:
-Dalbar Study
-Suns vs Lakers
-
Long-term perspective
-
S&P incredible 10-year run
-
Inflation and speculating with gold
-
How do we see things more as God does
Sources: WSJ.com, Downtown Josh Brown, Dalbar QAIB, Charles Schwab
Today's F-Bomb hits on the following:
-
Poker Mania
-
When we are right, we are still often wrong.
-
Recap of the 6-months following the election
-
Example of prospective client with almost everything in stable value, cash, and bonds
-
Phil. 4:6-7 Do not be anxious
-
Markets correct. It's normal. How often do they drop, how often do they come back?
-
M1 money supply has basically broken the charts.
-
Social security mistakes and insights
On today’s F-Bomb John discusses the following:
-
Rising lumber prices
-
Yellen says that inflation is coming
-
We should be performing for an “audience of one” rather than seeking man’s approval
-
Home prices continue to skyrocket
-
Crypto insanity continues to catch fire
-
The danger of trying to “break even”
-
The Big 5 do more in sales each week than McDonalds does in an entire year
-
9 of the 10 past years were positive in the stock market, but 40% of the index’s stocks posted negative returns during that time period
Sources: Wall Street Journal, Cheryl Riley, Abnormal Returns, Josh Brown
Today F-Bomb discusses the following:
-
In America we have mobility amongst classes and social standing
-
"The Bet"
-
5-Largest Stocks in 2000 and where they are today
-
Proverbs 11:29 and why our "Babylon" will eventually fall
-
Why dividend-stock strategies are not the simple answer for persistent income
-
Biden's lie about who pays their fair share of taxes
-
Bernie Madoff is dead
-
How you can avoid being scammed
-
Tough times define us all
Sources: The Wall Street Journal, Ric Edelman, Taxfoundation.org, Bloomberg, yCharts, wealthmanagement.com, money.cnn.com
Today's F-Bomb hits on the following:
Awful airplane movies
Biden's 10T spending plan
Perspective when confronted with presidential policies you disagree with
Separate your politics from your portfolio
The unemployment disaster - people follow incentives
Proverbs 26:11. Don't eat your vomit like your pooch does
Learn from mistakes, like when our 1-year old falls in the swimming pool
NFL Draft. The Bengals do "Bengaly" things like normal
How to deal with higher interest rates and tax implications of secondary residences and rental properties
Can you deduct insurance premiums
Hospice nurse confessions
Sources: The Wall Street Journal, PowerofPositivity.com, Rotten Tomatoes
Today's F-Bomb hits on the following:
-Having a friend with every random tool for every random project comes up huge in a neighbor
-Which states are the most financially literate?
-Mass Mutual Social Security Questions social-security-quiz
-8 Ways to Fight Cancer
-MUD WTR was Brittany's informal way of hosting an intervention
-Money is here to provide us with the highest anxiety-adjusted returns
-Rental car shortages are off the charts
-Biden's proposal to increase capital gains tax
-Permanent life insurance is the answer on very rare occasions. However, these scenarios may become more applicable to a larger subset of the population in response to rising taxes
Sources: Blair DuQuesnay, Wall Street Journal, Mass Mutual, Ric Edelman
Today's F-Bomb discusses:
-
If you're all-in, I'm all-in.
-
EBRI survey shows many retirees never spend down their investments in retirement
-
1 John 1:8 says that we have all made mistakes
-
John's traffic violation!
-
Be careful on your starting and end points when analyzing investment performance
-
Tax loss harvesting
-
United Airlines should worry about hiring the best pilots...period.
-
How to hedge currency risk
-
Is this a housing bubble?
Sources: Wall Street Journal, Ben Carlson, EBRI, Market Watch
Today's F-Bomb touches on the following:
-CFP Board Exam changes weighting to include Psychology of Money
-It's easier to do the right thing when your friends are setting that example. Proverbs 27:17
-Don't platoon QBs and don't dance between growth and value cycles.
-The Argegos Capital Management collapse
-What did you expect from Manziel and Winston?
Sources: awealthofcommonsense.com, Wall Street Journal, Ric Edelman
Today's F-Bomb talks about how we can create quality results in our lives by taking personal responsibility for our decisions. Also included in this episode:
- How the 3rd round of stimulus has a retroactive on your 2020 taxes
- Striving for equal opportunity, not outcomes
- Different seasons of life dictate adjustments
- Come off picks like Steph Curry
- In case you weren't sure, when you're broke you're stressed
Today's F-Bomb highlights the role women play in our society and the importance they have within our lives!
Faith: Women have been granted a God-given capacity to love and seek to help others.
Family: Brittany is the catalyst behind most of our family's progress.
Finance: Everything you need to know about this last round of stimulus.
Football (March Madness): Gonzaga or the field?!
Sources: Ric Edelman, Deutsche Bank, Wall Street Journal
Today's F-Bomb isn't a deep dive on analytics and how WAR has changed scouting in sports, but rather a discussion around defining value in our lives and finances.
Faith: You are valued in God's eyes and that we should be living for an audience of one.
Family: There is no debate, Brittany is more valuable around the Hagensen household than John
Football: The Greek Freak is NOT more valuable than LeBron, and never has been
Finance: What are the most valuable components of our financial lives and how do we enhance those areas?
Today's F-Bomb offers 8 areas to protect when it comes to your financial plan.
Faith: God is one our side. That's solid protection!
Family: Good luck trying to keep your Angel Monitor from signally false alarms.
Finance: John offers practical protection strategies against common financial combatants.
Football: The NFL is all about player safety, and make no mistake, that's a good thing for us fans!
Today's FBomb talks about the irony behind improving a situation not by what we can add, but rather by strategically removing excess.
Faith: Bad company, corrupts good character.
Family: My MIL's standup paddle board debacle.
Football: Pick 6's are killers.
Finance: 8 things to subtract from your financial plan for an immediate boost to your progress.
Today's F-Bomb differentiates investing from gambling through practical, digestible examples.
Faith: Proverbs 15:22
Family: My Cascade Lanes victory!
Football: Super Bowl Analogies
Finance: Investors are...prepared for the unexpected, focused on the long-term, make thoughtful and proactive adjustments, and understand the end game.
Today's F-Bomb highlights that the most dangerous risks are the ones that we don't even know exist to begin with.
Football: Does anyone prepare better than Andy Reid and Tom Brady? This is a clash of two of the best when given time to get ready for a big game.
Faith: Revelation...are we prepared for Christ's return?
Family: I once pulled over because I wasn't sure if Cruz was still breathing. No one, and I mean no one is adequately prepared to bring a newborn home from the hospital.
Finance: Melvin Capital was completely unaware of the risk that internet formation could provide relative to short-squeezes.
Check out Kenny Gatliff, CFA @ On-TheMoney.com for more market insights and his most recent blog post on Gamestop specifically.
On today's F-Bomb, John talks about 5 truths surrounding financial planning and investing.
- Watch your wallet more than your investment performance
- Avoid "paralysis by analysis" through an automated gameplan
- Change your behavior
- Familiarize yourself with the basics
-
Choices in market downturns makes the difference
-
Verse of the day: John 8:31-32
-
Matt Lafleur's 4th quarter field goal decision
Listener Questions: - Don't mix politics and portfolios - Gamestop bonanza
References: Humbledollar.com Ben Carlson's "Everything You Need to Know About Saving for Retirement"
On today's F-Bomb, John discusses 10 paradoxes of life as well as 5 investing paradoxes.
References: Tom Stevenson Blog Post - July, 2019 Michael Lynch Think Advisor Blog - January, 2021
On today's F-Bomb, John discusses 12 practical lessons to pull into the New Year.
Faith- Philippians 3:13
Football- A comparison of stocks and NFL teams, according to John
Family- Kids hoarding food may seem strange. However, once you consider their backgrounds it isn't surprising. We all view the world through our own lens based upon our past experiences.
Finance- The 12 lessons for 2021 as well as Ben Carlson's story of Bob (A Wealth of Common Sense Blog) for those wondering if investing at market peaks is a wise decision.
References: Morgan Housel's "Psychology of Money".
Today's F-Bomb: John comes up with twelve random thoughts, taken from his Rethink Your Money radio show, to go along with twelve financial moves you can make at year's end that could help lower your taxes. He mixes in brief comments on his youngest children and how they relate to one of his suggestions, as well as referencing this past week's edition of Monday Night Football.
Introduction: Airplane example Getting into an elevator Kids being held over the spa
Football: NFC East: The Eagles put their faith in Carson Wentz. The Cowboys put their faith in Mike McCarthy and Zeke. The Washington Football Team put their faith in Dwayne Haskins. The Giants put their faith in Saquon Barkley.
Verse of the day: Hebrews 11:1 says, “Now faith is the assurance of things hoped for, the conviction of things not seen.”
Lecrae said “If I’m wrong about God then I wasted my life. If you’re wrong about God then you wasted your eternity.”
Faith: Faith means being willing to encounter challenges and welcome them because you know that the conviction of things not seen will produce results in your life.
Listener Question for the Day: I listen to both Dave Ramsey and you, you feel differently about paying off your house and handling debt. Please explain why he’s wrong.
Finance: Faith in human resilience and ingenuity in the midst of trial.
Faith in America, but also faith in the world as a whole (international investing).
Faith in your team (are they experts, are their interests aligned).
Faith in yourself (Dalbar study).
MLK said, “Faith is taking the first step even when you don’t see the whole staircase.”
Today's FBomb discusses the most important two steps we must take in accomplishing our financial goals.
Faith: How do we help those in need during this holiday season? How do we help point people back to the one source of peace and hope?
Family: Our adoption journey didn't begin in Ethiopia, but rather through a simple, seemingly insignificant first step.
Football: Coach Spo and Handsome Sean McVay took first steps to realizing their coaching dreams!
Finance: Two "first steps" needed to achieve everything you desire financially.
Write-in Questions: An overview of Biden's new tax proposal and what you can consider if it gets passed into law in 2021.
Today's FBomb hits on having an attitude of gratitude in the midst of even a tough year like 2020.
Faith: Act 16 is a great reminder of Paul and Silas offering praise to God even while in prison.
Family/Personal: John is grateful for God's creation, his family, his health, and our nation!
Football: A reflection on the greatest Hagensen family Thanksgiving story.
Finance: We have so much to be grateful for as investors: 1) Access seamlessly to the capital markets, even with small amounts of money to invest 2) Compressed costs 3) Better advice and services 4) Low tax rates
Q&A: 1) With more government stimulus, have a plan that accounts for expected inflation, rising interest rates, as well as higher taxes in the future. 2) Ensure that your estate plan is customized and takes into account the expected tax brackets of each beneficiary.
Today's FBomb highlights that we are what our record says we are. Occasionally we get lucky or unlucky, but by the time we are 30, 40, or 50 years old (or even older) our life is most accurately a reflection of the aggregation of our choices. If we want to improve our destiny, we must first improve the quality of our decisions.
Faith: Galations 6:7-9 A man reaps what he sows. 8 Whoever sows to please their flesh,from the flesh will reap destruction; whoever sows to please the Spirit, from the Spirit will reap eternal life. 9 Let us not become weary in doing good, for at the proper time we will reap a harvest if we do not give up.
Family: Brittany loves the podcast that answer questions...so I'm going with listener questions today. Submit yours to info@keystonewealthpartners.com
Football: Bill B and Pete C made gutsy, but quality decisions that changed the destiny of their careers as well as the franchises they coach.
Finance: -Separate your politics from your portfolio -Remove personal biases (loyalty, endowment, recency, etc.) -Stop "resulting" -Get objective advice
Today's FBomb discusses how vital it is for us to have a solid support system. Trials and challenges will occur and our likelihood of coming out the other side successful depends as much on our support as it does on our own grit.
Faith: Proverbs 13:20 Walk with the wise and become wise; associate with fools and get in trouble.
Family: Brittany and I love living in the sunshine, but understand our friends who choose to live back by family for a better support system.
Football: Carson Wentz didn't suddenly forget how to play football. His support system has evaporated.
Finance: CPA, Attorney, Financial Planner, and Psychologist (financial counselor) are the four legs of a successful financial planning support system.
Today's F-Bomb discusses why deceiving ourselves may temporarily relieve pain, but we will only be truly set free through discovery and acceptance of the truth.
Faith: John 8:32. Not all things are relative. There is absolute truth in the world. The earth is round and the ocean is blue. That isn't controversial. It's okay to believe that Jesus is the Son of God unashamedly.
Family: Our kids aren't capable of doing "whatever they put their minds to." Bek didn't have the size, speed, or skill to play football at ASU, and I told him that when he shared with me that playing Pac12 football was his post high school plan.
Football: "Jerry's World" is one filled with delusion. The teams that are willing to accept the truth, they are rebuilding and not a real contender, tend to fare much better than those who lie to themselves. See the Cowboys of the past 20-years for an example.
Finance: The 5 truths around retirement planning that can be overcome if addressed and strategized within a comprehensive financial plan.
Today's F-Bomb focuses on why action rather than knowledge is what achieves results. How do we best establish an action plan? Remove the friction, automate, and create a path of least resistance.
Faith: James 1:22 "But be doers of the Word, and not hearers only, deceiving yourselves."
Family: Jude thinks that talking about veggies being healthy, and stirring his vegetable soup will make him strong. Sorry dude, you have to eat them!
Football: Marshawn Lynch is all 'bout that action boss!
Finance: 12-things-you-can-now-improve-your-financial-life.html
Chris Smith Family Mission Statement: https://familybrand.com
Front Row Dads: https://frontrowdads.com
Today's F-Bomb hits on how we can avoid the unforced errors that so often determine our outcomes in life.
Faith: Are we tithing? Not giving back to God is an unforced error.
Family: My Costco runs are filled with unforced errors, and I followed that up with another one this week.
Football: DK Metcalf with the unforced error of the season against Dallas.
Finance: 1) Don't Beat Yourself 2) Prepare Well 3) Know the Rules (and adapt to rule changes) 4) Always Give 100% Effort
Today's F-Bomb looks at how wide the gap between good to great is, even though so often it is nearly indecipherable at first glance.
Faith: Carlton's miraculous recovery. Prayer works and our God is certainly GREAT! John's pathetic realization that he couldn't find his Bible Sunday morning.
Family: If we want great, we must surround ourselves with greatness.
Football: The NFL isn't hard to figure out. Get a GREAT QB and you have a good chance. Have an average or bad QB, you're a hopeless fanbase.
Finance: Who is quarterbacking your financial plan? You can't do it alone and the outcomes will be vastly different if you hire Patrick Mahomes instead of Sam Darnold.
Today's F-Bomb focuses on the importance of both the playbook itself as well as our ability to execute upon it.
Faith: Psalm 119:105 says we have the playbook. It's the Bible. But how well can we execute it?
Family: My new goal in life is to not have to build another Ikea piece of furniture.
Football: Leo's famous quote, the infamous Super Bowl interception, and McVay not being as wise as God.
Finance: The 8 rules that every investor should have within their playbook.
Today's F-Bomb focusses on why changing your mind is a sign of thoughtfulness and growth, not a lack of conviction. Pride is a difficult thing to overcome, but if we can maintain a level of humility and provide both ourselves and others the space to evolve the world will be become more unified than divided.
Faith: Ephesians 4:22-24. The very essence of Christianity is conversion. God provides a great blueprint for showing grace and forgiveness on our journey of sanctification. If He can do it for us, then how much more can we do this for others?
Family: Parenting presents a lot of mistakes and in turn opportunities to "rethink you parenting". Changing your mind is essential to even being a half-way decent parent - which is hard enough on its own!
Football: Pete's oldschool approach isn't as effective in 2020 with the rules changes that favor an air-raid approach. When you have Russell Wilson, you have to "Let Russ Cook"!
Finance: It's okay to change your mind on how you've always viewed investing and financial planning. The rules are different nowadays and your strategy should reflect that. Reassess the following: tax deferral, individual stock buying, active management, paying commissions, static planning, retirement income, etc.
Today's F-Bomb illuminates the reality that our actions have wide stretching consequences - both good and bad - far beyond what we often comprehend.
Faith: Billy Graham's path to faith.
Family: As parents, we are shaping the "ripple effect" of our families for generations.
Finance: Estate, Investment, Spending, Giving ripple effects to assess.
Today's F-Bomb brings a random triage of information dumped out of John's brain and into your ears.
Faith: Philippians 1:9-10
Family: Kids are born curious. We carry that forward as adults and it's a bit of a double edged sword.
Football: Rookie QBs tend to benefit from less information and fewer elements of the playbook rather than an Offensive Coordinator trying to give them ALL the information at once. Less information, and less over-thinking can be "more".
Finance: Home prices, Tesla, Zoom, mortgage delinquencies, bond yields less than 1%, income inequality, Apple going beast mode, Capitalism lifting us out of poverty, technology is a win/win...and much more!
Today's F-Bomb focuses on the calm after the storm. 2020's pandemic will ultimately pass, and when it does will we be well positioned to take advantage of the next decade and the opportunities that lie ahead?
Faith: Jeremiah 29:11. There is hope in the future, especially when we put our focus on the most important, and eternal aspects of our lives.
Family: The Bismarck windstorm was gnarly that we went through almost a decade ago.
Finance: Low interest rates, international markets, historically low tax rates, and government stimulus programs are just a few of the unique opportunities that exist in midst of the storm in 2020.
Football (hockey): The Great One has one of the great quotes when asked what makes him so good. His response: "I skate to where the puck is going, not where it has been."
Today's F-Bomb hits on how we create, sustain, and evaluate progress in the midst of unprecedented times.
Faith: 1 Timothy 4:15 says, "Take pains in these things; be absorbed in them, so that your progress will be evident to all." Where are you at in your current faith journey? Are you making progress?
Football: Progress is easy to measure on the football field.
Family: John's interesting solo beach trip with his group of the four youngest kids.
Finance: Set SMART goals for the three areas: Giving, Saving, and Spending. If you don't have clarity on where your destination is, it'll be near impossible to get there.
Today's F-Bomb encourages us to think independently, rather than blindly following the masses. In today's world of confusing and cluttering information, it's vital that we consider facts and arrive at our own conclusions, based upon our objective research.
CDC Weekly Deaths Per Age Chart https://www.cdc.gov/nchs/nvss/vsrr/covid_weekly/index.htm Weekly deaths in America have dropped from approximately 15,000/week in April to less than 500/week as of the week ending August 1st.
Faith: 1 John 4:4-5 and Romans 12:2. We aren't supposed to live life in a way that resembles society, but rather should be set apart. This feels even more pertinent given the current state of our culture.
Family: I made my family wait in the car while I stood 3-deep in line for a bathroom that wasn't even occupied.
Football: The Big Ten and PAC-12 urinated on our legs and told us it was raining.
Finance: 1) Don't chase heaters 2) Diversify globally to more discounted asset categories (EM Value) 3) Value and growth have some of the largest price disparity in market history. 4) If you make south of 325k (MFJ), consider NOT deferring taxes. 5) Bonds stink. Don't assume if you're closer to retirement that it's time to load up on fixed income as today's economic environment possesses unique risks.
Today's F-Bomb poses the question, "What in your life are you putting off for another day?"
Family- If you fly into Hawaii, for a brief moment you'll think you're in a real life scene from the Handmaid's Tale.
Faith- James 4:14. Tomorrow is far from guaranteed. Start pursuing the things God has put on your heart TODAY.
Football- There is nothing worse than being a fan for the perennial "We will be good NEXT year team"
Finance- The time to start giving is NOW. The time to start savings is NOW. The time to retire is NOW.
Today's F-Bomb focuses on the lasting benefits of achieving more by seeking less.
Football: Sports have a massive impact on the economy. The NFL is the absolute king and it would crush networks if there isn't a full season. Baseball will benefit from less games.
Family: Brittany lives in a scary world where moving is fun for her.
Faith: Jesus himself gives us the blueprint of less being more. 5 Biblical Examples of less being more
Finance: Practical tips to simplify your financial life for more peace of mind and reduced anxiety.
Today's F-Bomb focuses on the massive over-performance of technology stocks and why not chasing them now is prudent.
Faith: Discipline is so much harder to execute in practice than in theory.
Football: Mahomes deal was expensive, but wasn't over-priced. Don't compare Zoom or Amazon's current PE Ratio to Mahomes' record deal. Better comparison? Todd Gurley.
Family: Kids want to follow the crowd and compare themselves to their friends. We do the same thing when those around seem to be making huge returns buying only a handful of seemingly obvious tech winners and giants.
Finance: Nasdaq continues setting new highs. If you don't overload on the likes of Amazon and Tesla you feel like you're missing the most obvious returns available. Going all-in on tech comes with the risk of not making money for 15-years when you overpay like the late 90's.
Today's F-Bomb hits on how to filter through the mountains of information in 2020 to distinguish helpful advice from misleading myth.
Futbol: There is nothing more "fake" than European transfer rumours (notice the fancy spelling here).
Family: Teaching your kids the tools to filter information is much more valuable than force-feeding them only our own beliefs as their parents.
Faith: Be careful what you read, even regarding Biblical interpretations.
Finance: Kiplinger's great article on the 7 practical ways to decipher "fake financial news".
Today's F-Bomb focuses on the nuances around the idea of financial independence. What does it mean and how can you work toward achieving it?
Family: Aloha! We are homeschooling our kids on a coffee farm on Maui!
Faith: The only true "freedom" we have on earth is in the knowledge that our sin no longer defines us, and that Christ has paid the price on our behalf.
Finance: Freedom means doing what you want, with who you want, when you want, and where you want...without the constraints of finances factoring into the decision. Practically, how do we get to this point?
Today’s F-Bomb discusses how to evolve in an ever-changing world and why the premise of “too big to fail” is fools gold.
Football: Remember the year that Ricky Williams and Ronnie Brown confused DCs across the NFL with the wildcat?
Faith: Change is constant here on earth, but one thing we can count on is that God is unchanging and only the eternal will never fade.
Family: Seems incredible to think that I was once amazed by Brittany’s brick phone and stylist pen.
Finance: The “Big 5” now make up 22% of the S&P500. What does that mean for the markets and your financial plan as we continue forging ahead through the pandemic?
Today's F-Bomb discusses the lasting impacts that may accompany COVID-19 and what you should be considering in the midst of heightened uncertainty and rising confirmed cases.
Faith: Worrying solves nothing. Cast our cares on the Lord.
Family: Homeschooling FTW.
Finance: Now is not the time to pull out of the market, assuming you have a long time horizon and a well diversified portfolio. Make sure your emergency fund is beefed up, and even consider augmenting it with a cash-out refi while rates are low to provide the necessary buffer to withstand a prolonged recession.
Football: Colleges need football in the fall. Football pays for virtually all other college sports (almost all of which lose money), and in some cases account for over 60% of the school's overall revenue. A lost football season would be more than just disappointing for fans, it would have a lasting ripple effect on higher education forever.
Re: Ric Edelman's COVID-19 report.
Today's F-Bomb says that in the midst of rioting, social injustice, coronavirus, and record unemployment levels your reaction to the chaos will define your future, rather than the uncontrollable circumstance itself.
Faith: Mark 12:30-31 simplifies our response in the midst of the tragic murder of George Floyd - "LOVE THY NEIGHBOR AS YOURSELF."
Football (sports): Never let someone else "prove it" to knock you out of a H-O-R-S-E game.
Finance: You have full control over many aspects of your financial destiny. Focus on those areas and ignore the things you cannot control.
Family: As a father to 4 black children, wrestling with the systemic racism in America as a white male is incredibly difficult.
Today's F-Bomb hits on why it's so important to constantly be looking to evolve and improve. If you don't you may get run over by the Uber driver as you walk to your mailbox to drop in letters that you refused to send via email.
Faith: Don't anchor to the faith of our parents or what we have always "believed to be true" but rather be willing to mature and grow as you discover more about the Lord.
Family: You want to see what progress and adapting looks like? Just have an 11-month old in your house.
Finance: There are far too many outdated financial strategies. It's time to look for improved and relatent ways we can adapt our finances rather than doing them how "they've always been done."
Football: Chip Kelly changed the way offense was run in both college and the NFL. Then everyone caught up, and he never adapted.
Today's F-Bomb focuses on living in alignment with God's calling rather than focusing on what others say, tweet, or text - and ultimately why their response should be irrelevant to the decisions we make when seeking to live a purposeful life.
Football (MJ): Why we should follow the Michael Jordan example of never worrying about what others say, but rather relentlessly pursuing sometimes unpopular goals.
Family: Our kids love online school and quarantine. What does that teach us as parents?
Finance: If your financial life looks like most Americans, stop doing whatever you're doing now and change it up. The "average" American's finances are in disarray.
Faith: God calls us to seek lives that focus on His purpose, not the world's idea of a good life. We should welcome chirping from the masses, and at least an eyebrow or two raised from time to time. Once that happens we're probably closer to being on the right track according to the Word of God!
Today's F-Bomb distinguishes the subtle difference between learning from our past and allowing our past to dictate our future.
Finance: Warren Buffet lives off of past reputation and the stock market is always looking forward as evidenced by the constant disconnect between Main Street and Wall Street.
Family: Brittany wanted to know all about John's past when they began dating. He couldn't care less about her past relationships.
Football: Organizations get into trouble when they negotiate future contracts based upon past performance rather than expected production.
Faith: God washes us white as snow and thankfully we are able to focus on the new creation we are in Him rather than where we used to be.
Today's F-Bomb is a valuable reminder that the biggest miracles emerge out of life's most traumatic messes.
Football: The devastation of Drew Bledsoe's injury is what paved the way for the GOAT.
Family: As a highschool senior, John endured a trial that seemed to have no purpose or silver lining. That couldn't have been more wrong!
Finance: 1) Assess where you're spending your money. 2) Align your life's goals with your financial goals. 3) Evaluate where you are going for advice.
Faith: God is working all things for good, but often that blessing is below the surface and far out of our immediate view.
Today's F-Bomb is a classic rant about why grading things in life too early is a dangerous proposition.
Football: Mel Kiper Jr, Bleacher Report, the virtual NFL Draft, irrelevant draft-day grades, and why the young coaches know how to decorate their mansions a heck of a lot better than Bill B and his cut-up hoodie.
Family: If Brittany had graded marriage in year-1, John may not have liked the draft grade.
Finance: We just experienced the fastest bear market in nearly 100-years. Don't grade your portfolio in the midst of a pandemic, but rather do the right things so that in 2030 you will have massive financial success.
Faith: Isn't it reassuring that God doesn't grade us based upon our worst days and decisions? The very reason we need a savior is because whenever we are the General Manager within the War Room of life, we scream and shout that Ryan Leaf is a way better pick than Peyton Manning. And yes, that IS another shot Mel Kiper...and our sinful nature!
On today's podcast John discusses how we look to the future in the midst of a pandemic, rather than the limiting mindset of simply yearning for things to get back to how they "used to be".
On today's podcast John discusses how we can utilize unique times to reveal neglected areas in our lives.
On today's podcast, John outlines the four unique opportunities that exist in the midst of the Covid-19 pandemic. These opportunities will not last forever, so listen in to learn what you could be doing today to propel you to a brighter future.
On today's podcast John reflects on five common questions asked during the midst of the 2008-2009 financial crisis and, most importantly, what we can learn from their answers for our present situation.
On today's podcast, John discusses the blessings we can find in being stuck, and the four specific opportunities that exist in the midst of the coronavirus pandemic.
On today's podcast, John discusses the confluence of three factors, making right now a unique moment in history to build weatlh.
On today's podcast, John discusses the five ways to protect your portfolio from coronavirus destruction. (Source: Peter Mallouk)
Coronavirus, SARS, Zika . . . there seem to be these global virus outbreaks that cause panic and market volatility. On today's podcast, John discusses the four responses you can take to find peace amidst the chaos.
On today's podcast John discusses the five key conversations every couple should have around their finances.
On today's podcast, John discusses one of the most controllable - and important - aspects of your financial plan.
On today's podcast, John discusses why complicated questions can often have simple answers. There is one simple word that contributes more than any other to achieving financial freedom. Listen to find out what it is! Source: www.mswma.com
On today's podcast, John discusses the five things that make both a football tam and financial plan successful.
On today's podcast John discusses how to remain confident in the midst of global conflict and unrest.
On today's podcast, John discusses how much more effective it is to be preventative rather than waiting until something goes wrong.
On today's podcast, John discusses the steps for getting started on your 2020 financial planning, Kirk Cousins, and why this isn't a new decade.
On today's show, John provides some last minute opportunities to execute for lower taxes.
On today's podcast, John discusses how being grateful can actually help you achieve greater financial success. Credit: TheBalance.com and Miranda Marquit.
On today's podcast, John discusses the basic framework to get you from Point A to Point B with your retirement plan.
On today's podcast, John discusses the Five Step End of Year financial checklist, and why you should knock it out sooner rather than later.
On today's podcast, John discusses the six biggest mistakes investors make and how you can avoid them.
On today's podcast, John discusses the challenges many couples face in getting on the same page with their financial priorities - as well as the six steps to make progress together!
On today's podcast, John explains why your long term success is directly linked to your ability to effectively prioritize.
On today's podcast, John discusses the seven steps to removing your fear of the future.
On today's podcast, John discusses the importance of clearing your life of less meaningful distractions so that you have room to maximize potential and focus.
On today's pod, John talks about the 30 years it takes most to become an "overnight success".
On today's podcast, John discusses why so often we over-complicate things unnecessarily. Reference: Ben Carson, Ritholtz Wealth Management.
On today's show, John discusses the lessons to live by in your 30's.
Content References: Kiplinger and Mother Nature Network.
On today's podcast, John discusses the financial planning considerations as we head into another election year frenzy.
On today's podcast, John outlines the five step process you should consider prior to donating money.
On today's show, John discusses the credence in burning down capitalism and free markets.
On today's podcast, John discusses the enormous shift in life when you become a parent. Most of these changes require major financial considerations.
On today's pod, John discusses the zero sum game of our time and offers a little trick to better aligning our stated priorities and actions.
On today's podcast, John discusses the new SEC "Best Interests Rule". In short, it isn't defined, isn't enforceable and still doesn't require Registered Representatives to act in their clients best interests. To make matters worse, the SEC also has done away with the word "fiduciary" due to it being dubbed "jargon" that Americans don't understand. So as of June 30th, RIA's like Keystone Wealth Partners - who actually are legally held to a fiduciary standard - are not supposed to refer to themselves as fiduciaries and instead lump in to the "best interests" pile of advisers who in fact are salespeople. How did this happen? One word, big broker dealer lobbyists and money. The financial industry continues its corrupt descent at the expense of hard-working Americans.
On today's podcast, John discusses what opportunities exist in this low interest rate environment for savvy investors.
On today's podcast, John discusses the financial ramifications of enabling our children.
On today's podcast, John discusses the nine Practical Principles you need to know when combining faith and money. Reference: https://protect-us.mimecast.com/s/c5GLCXDX9oUnJ2MMf6WNQs?domain=tithe.ly article by Jesse Wisnewski
On today's podcast, John discusses the importance of having both spouses involved in financial decisions.
On today's pod, John discusses the states now moving forward on legislation that will require financial advisers to act in their clients' best interests, and the absurd response of broker-dealers within those states.
On today's podcast, John discusses the five steps you can take to progress on your path toward a stress-free money experience.
On today's podcast, John discusses one of the most misunderstood aspects of personal finance.
On today's podcast John discusses the six steps you can take to relieve stress around your investment plan.
On today's podcast, John discusses the five action items in remembering that "you only live once".
On today's show John discusses the value of genuine human connection in both our lives and with our money.
On today's podcast, John discusses the three most common human emotions that trip us up on our path to financial success.
On today's podcast, John outlines two of the most pivotal decisions we all confront with our money.
On today's podcast, John discusses one of the most common mistakes millions of investors make.
On today's show, John provides the practical framework to evaluate whether your retirement plan is on track.
On today's podcast, John discusses how imprudent it is to use past performance in determining future results.
On today's podcast, John discusses what the key differences are regarding Roth and traditional IRAs.
On today's podcast, John discusses what ultimately drives us to take action and why more than we'd like, it's far too late. (Reference: "The Fifth Risk" by Michael Lewis.)
On today's podcast John discusses the challenges we all have in fulfilling our New Year's resolutions, and how creating structure around our goals will increase our likelihood of success. (Reference: Book "The Miracle Morning" by Hal Elrod.)
On today's show, John discusses the five things to remember when markets get as volatile as they have in this final quarter of 2018.
In life nothing frustrates us more than focusing our attention on what we cannot control. On today's show, John discusses the aspects of our money that we CAN control.
On today's podcast, John illustrates the similarities between life and the stock market.
On today's podcast John discusses why we can all be grateful as investors in 2018. Reference: Marketwatch,com
On today's podcast, John discusses why our financial circumstances are less relevant to our happiness than we might otherwise have thought.
On today's podcast, John discusses how magnified our short term experiences influence our thoughts, and distort our judgment while attempting to make prudent, long-term money moves.
On today's podcast, John discusses the reality that 44 million Americans currently live with student loan debt. Unfortunately, that number only continues to climb.
On today's podcast, John discusses what we can learn from baseball about our money. Reference: Charles Schwab, Patience at the Plate by Davidow.
No one likes being surprised when it comes to their life savings. Knowing three things can help you avoid being caught off guard in times of market uncertainty.
On today's show, John discusses how the "fear of missing out" can lead to bad behavior with our money.
On today's podcast, John reminds us of nine facts likely forgotten about the largest corporate bankruptcy in history. Citation: The Motley Fool
Ever wondered why the pain of losing hurts more than the joy of winning? Listen in to learn how it affects our money moves.
What if you had the misfortune of mistiming the market over and over? Would you still be able to retire? Listen and find out. And a shout out to Ben Carlson, CFA, for the blog post referenced in the show.
What do sunken treasures and Johnny Depp teach us about the markets? Today John has some thoughts, so listen and find out!
On today's podcast, John discusses the frustration of losing things, and why real estate purchases within IRA's should be given careful consideration.
On today's podcast, John dispels the myth that "Socially Responsible Investing" (SRI) improves the world, and shares how to better position your investments to make a real difference for causes you value.
On today's podcast John discusses Dave Ramsey's national network of "trustworthy" financial advisers and the layers associated with it.
Today's podcast focuses on the four takeaways investors can learn from the World Cup, and how to jump off the emotional roller coaster ride.
On today's pod, John discusses the challenges with properly planning for Social Security benefits and what you ought to know for yourself, parents or grandparents who approaching the age for filing.
On today's podcast, John discusses the growth of Apple stock and why you likely don't know many filthy rich friends who invested in Apple.
On today's pod, John talks about the seven Freedom Facts outlined by Tony Robbins in his latest book, "Unshakable", and how to handle the reality that markets will routinely disappoint you.
On the podcast, John looks at the shocking data related to what percentage of stocks actually drive returns.
On this podcast, John discusses the principals we can learn from two billionaires' purchase of the Milwaukee Bucks.
On today's podcast, John discusses the three steps to align your money and your purpose. Credit to Atypical Finance and Picky Pinchers for the great insight and reference.
On today's podcast, John discusses what we can learn from the Royal Wedding and how we ought to view the media regarding our financial planning.
On today's podcast, John references an article in USA Today written by Ken Fisher on why your home is probably a worse investment than you think.
On the pod John marvels at how an unassuming underdog topped one of our nation's blue-blood institutions.
On today's pod, John discusses why paying off your mortgage early - or even worse, paying cash for your home - may be one of the most destructive financial decisions of your life. Sorry Dave Ramsey, but you couldn't be more wrong!
On today's pod, John discusses how you can avoid some of the common pitfalls related to under-diversification. If you want to maximize return and minimize risk, listen in.
Did you realize we are in one of the lowest tax environments in the history of America? Should you continue deferring savings into retirement accounts, or is there a more efficient way in light of current tax rates? John takes on those issues on today's pod.
On today's pod, John outlines the third potential hurdle in accomplishing our goals and how - now more than ever - inflation is a concern for most investors.
On the pod John provides simple solutions to avoid poor spending habits and remain focused on your long-term objectives.
On today's pod, John outlines the negative impact procrastination has on long-term financial success.
Santa Claus, the Easter Bunny and the Tooth Fairy are all relatively harmless lies we share with our young children. Unfortunately, the three investment myths discussed on today's pod are far more destructive than these jolly holiday characters.
In today's episode, John discusses the three primary reasons people invest in gold, and the mythology behind each one. He then provides evidence-based reasons for why you should wear gold, but never "wear it in your portfolio".
On today's podcast, John puts rising interest rates, inflation and downward volatility in perspective and what you ought to be thinking about in relation to your money.
As 2017 drew to a close, Congress passed the "Tax Cuts and Jobs Act", tax reform legislation that made sweeping changes to the Internal Revenue Code. When Congress last reformed the tax code in 1986, the legislative process took over two years. This time Congress accomplished the same feat in two months. What does it mean for your personal finance situation and what are big-picture areas you should be considering in terms of taking advantage of it?
In a world where financial advice is more accessible than anytime in history, studies are showing that we are counter-intuitively making worse money-moves than ever before. How can you evaluate the credence of the advice you are receiving? It's not enough that your advisor is a neighbor, goes to your church, or coaches your kids' soccer team (the ways that most Americans select a financial adviser). Today's show is spoken from the the mouth of an "ex-broker", and is designed to help you create the framework for evaluating and confirming the quality of advice you receive. After all, this is your life savings we are talking about!