Money Talks Podcast With Dan Joss: Recent Episodes
Dryden Joss
Daniel D. (Dan) Joss, MBA, CFP®, RLP®, CKA® believes in enjoying a simple, generous, relaxed, and active lifestyle. Named a “Top Financial Professional” by Northern Virginia Magazine multiple times, Dan has also been recognized as a top advisor and Registered Investment Advisor by Washingtonian Magazine and Financial Advisor Magazine.
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For more info check out https://www.jossbrown.com/ or call (757) 903 - 2127
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On this week’s episode of Money Talks, Dan speaks about the importance of gratitude. He challenges the audience to be grateful for the little things as it can lead to more valuable relationships and beneficial outcomes.
For more info check out https://www.jossbrown.com/ or call (757) 903 - 2127
moneytalks #financialwisdom For more info check out https://www.jossbrown.com/ or call (757) 903 - 2127
moneytalks #financialwisdom For more info check out https://www.jossbrown.com/ or call (757) 903 - 2127
moneytalks #financialwisdom For more info check out https://www.jossbrown.com/ or call (757) 903 - 2127
moneytalks #financialwisdom For more info check out https://www.jossbrown.com/ or call (757) 903 - 2127
moneytalks #financialwisdom For more info check out https://www.jossbrown.com/ or call (757) 903 - 2127
moneytalks #financialwisdom For more info check out https://www.jossbrown.com/ or call (757) 903 - 2127
moneytalks #financialwisdom For more info check out https://www.jossbrown.com/ or call (757) 903 - 2127
moneytalks #financialwisdom For more info check out https://www.jossbrown.com/ or call (757) 903 - 2127
moneytalks #financialwisdom Fall is here! Today Dan explains to Greg that the fall is the time for employers to establish an ira for their employees before the deadline. For more info check out https://www.jossbrown.com/ or call (757) 903 - 2127
moneytalks #financialwisdom For more info check out https://www.jossbrown.com/ or call (757) 903 - 2127
moneytalks #financialwisdom For more info check out https://www.jossbrown.com/ or call (757) 903 - 2127
moneytalks #financialwisdom For more info check out https://www.jossbrown.com/ or call (757) 903 - 2127
moneytalks #financialwisdom For more info check out https://www.jossbrown.com/ or call (757) 903 - 2127
moneytalks #financialwisdom For more info check out https://www.jossbrown.com/ or call (757) 903 - 2127
moneytalks #financialwisdom For more info check out https://www.jossbrown.com/ or call (757) 903 - 2127
moneytalks #financialwisdom For more info check out https://www.jossbrown.com/ or call (757) 903 - 2127
moneytalks #financialwisdom For more info check out https://www.jossbrown.com/ or call (757) 903 - 2127
moneytalks #financialwisdom For more info check out https://www.jossbrown.com/ or call (757) 903 - 2127
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Should you and your spouse both have life insurance? Today Dan Joss answers that question.
For more info check out https://www.jossbrown.com/ or call (757) 903 - 2127
moneytalks #financialwisdom For more info check out https://www.jossbrown.com/ or call (757) 903 - 2127
moneytalks #financialwisdom For more info check out https://www.jossbrown.com/ or call (757) 903 - 2127
moneytalks #financialwisdom For more info check out https://www.jossbrown.com/ or call (757) 903 - 2127
moneytalks #financialwisdom For more info check out https://www.jossbrown.com/ or call (757) 903 - 2127
moneytalks #financialwisdom For more info check out https://www.jossbrown.com/ or call (757) 903 - 2127
moneytalks #financialwisdom For more info check out https://www.jossbrown.com/ or call (757) 903 - 2127
moneytalks #financialwisdom For more info check out https://www.jossbrown.com/ or call (757) 903 - 2127
moneytalks #financialwisdom For more info check out https://www.jossbrown.com/ or call (757) 903 - 2127
moneytalks #financialwisdom Whether it's HOA fees, maintenance fees, or improvements, there are many hidden fees that first time homeowners might not be aware of. For more info check out https://www.jossbrown.com/ or call (757) 903 - 2127
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There's been a few changes to 401k plans. Employees can now contribute $20,500. This is 1000 dollars more than you could contribute last year. Simple 401k's can now contribute 14,000 dollars. Learn from Dan Joss more about 401k mandates in today's episode.
For more info check out https://www.jossbrown.com/ or call (757) 903 - 2127
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Make a plan tot get out of debt and be aggressive with your plan. Know exactly where your money is going to and make sure it's going to your essentials. You need to save cash where you can by ending subscription services and selling items you don't use anymore. Debt is crippling because of the interest rates, so you must get out as fast as you can.
For more info check out https://www.jossbrown.com/ or call (757) 903 - 2127
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Financial infidelity is not hiding your occasional fast food habits from a spouse, but it is hiding accounts or cash. One of the greatest reasons people have for divorce is finances. Arguments might occur but healthy marriages involve talking about money together.
505 of couples that experience financial infidelity are in debt whereas couples that don't experience financial infidelity are only 22.7 likely to be in debt.
For more info check out https://www.jossbrown.com/ or call (757) 903 - 2127
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Inflation is up. Rent, travel, and food is up. Now is not the time for big expenses such as cars. We've had high inflation before in this country, so even after years of high inflation, your stock return will be average, not a crash. There will be short term volatility in the markets. So ask yourself, do you want to spend 40% more on a car, or can you wait a bit longer?
For more info check out https://www.jossbrown.com/ or call (757) 903 - 2127
moneytalks #financialwisdom For more info check out https://www.jossbrown.com/ or call (757) 903 - 2127
moneytalks #financialwisdom For more info check out https://www.jossbrown.com/ or call (757) 903 - 2127
moneytalks #financialwisdom Today Dan Joss describes some Christian non-profit resources to help Christians with their finances. For more info check out https://www.jossbrown.com/ or call (757) 903 - 2127
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What exactly is crypto currency? Is it an asset, a currency, or something else? Today Dan Joss explains what crypto is and how some people use it.
For more info check out https://www.jossbrown.com/ or call (757) 903 - 2127
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IRA's vs Roth IRA's. What tax bracket are in you now and what tax bracket will you been in in the future? A Roth IRA let's you save money that you can take out in the future tax free. This is a preferred IRA for younger people age 18-25. For more info check out https://www.jossbrown.com/ or call (757) 903 - 2127
moneytalks #financialwisdom Over 50% of people who have taken out student loans have answered on a survey that the loans were not worth it. The chances of getting a high paying job to pay off your high loans are very slim. Many people feel regret when it comes to loans because debt is very crippling. Every dollar borrowed will eventually cost two dollars to pay back. If you have student loan debt that you need help with, please call Dan Joss for a plan to get you out of debt. For more info check out https://www.jossbrown.com/ or call (757) 903 - 2127
moneytalks #financialwisdom Have you regretted retiring early? There are three things that could lead to this. Many people retire without a pension, social security benefits might not be what they were expected to be, and you can't wait around to die. Here's what will help you in planning for retirement. You must know the cost of your living expenses and if you will be able to fund that. A much simpler way to transition into retiring is to keep a part time job. For more info check out https://www.jossbrown.com/ or call (757) 903 - 2127
moneytalks #financialwisdom For more info check out https://www.jossbrown.com/ or call (757) 903 - 2127
moneytalks #financialwisdom For more info check out https://www.jossbrown.com/ or call (757) 903 - 2127
#moneytalks #financialwisdom For more info check out https://www.jossbrown.com/ or call (757) 903 - 2127
moneytalks #financialwisdom For more info check out https://www.jossbrown.com/ or call (757) 903 - 2127
moneytalks #financialwisdom For more info check out https://www.jossbrown.com/ or call (757) 903 - 212
moneytalks #financialwisdom For more info check out https://www.jossbrown.com/ or call (757) 903 - 2127
moneytalks #financialwisdom For more info check out https://www.jossbrown.com/ or call (757) 903 - 2127
moneytalks #financialwisdom For more info check out https://www.jossbrown.com/ or call (757) 903 - 2127
moneytalks #financialwisdom For more info check out https://www.jossbrown.com/ or call (757) 903 - 2127
moneytalks #financialwisdom For more info check out https://www.jossbrown.com/ or call (757) 903 - 2127
moneytalks #financialwisdom For more info check out https://www.jossbrown.com/ or call (757) 903 - 2127
moneytalks #financialwisdom For more info check out https://www.jossbrown.com/ or call (757) 903 - 2127
moneytalks #financialwisdom For more info check out https://www.jossbrown.com/ or call (757) 903 - 2127
moneytalks #financialwisdom For more info check out https://www.jossbrown.com/ or call (757) 903 - 2127
moneytalks #financialwisdom For more info check out https://www.jossbrown.com/ or call (757) 903 - 2127
moneytalks #financialwisdom For more info check out https://www.jossbrown.com/ or call (757) 903 - 2127
moneytalks #financialwisdom For more info check out https://www.jossbrown.com/ or call (757) 903 - 2127
moneytalks #financialwisdom For more info check out https://www.jossbrown.com/ or call (757) 903 - 2127
moneytalks #financialwisdom For more info check out https://www.jossbrown.com/ or call (757) 903 - 2127
moneytalks #financialwisdom For more info check out https://www.jossbrown.com/ or call (757) 903 - 2127
moneytalks #financialwisdom For more info check out https://www.jossbrown.com/ or call (757) 903 - 2127
moneytalks #financialwisdom For more info check out https://www.jossbrown.com/ or call (757) 903 - 2127
moneytalks #financialwisdom For more info check out https://www.jossbrown.com/ or call (757) 903 - 2127
moneytalks #financialwisdom For more info check out https://www.jossbrown.com/ or call (757) 903 - 2127
moneytalks #financialwisdom For more info check out https://www.jossbrown.com/ or call (757) 903 - 2127
moneytalks #financialwisdom For more info check out https://www.jossbrown.com/ or call (757) 903 - 2127
moneytalks #financialwisdom For more info check out https://www.jossbrown.com/ or call (757) 903 - 2127
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There are many ways and many reasons to give. In this episode of Money Talks, Greg and Dan explore best practices in giving and how to make giving a disciplined practice.
For more info check out https://www.jossbrown.com/ or call (757) 903 - 2127
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Being disciplined in your spending and lifestyle can provide important insights about your financial situation. In this episode of Money Talks, Greg and Dan unpack what it means to be financially disciplined and specific ways to re-engage control over your money.
For more info check out https://www.jossbrown.com/ or call (757) 903 - 2127
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How can we leave our children with the optimal financial situation for them? In this episode of Money Talks, Greg and Dan discuss organizing your financial legacy and helping your children be purposeful, generous, and content.
For more info check out https://www.jossbrown.com/ or call (757) 903 - 2127
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Individual Retirement Accounts (IRAs) can help you save for your best possible retirement. In this episode of Money Talks, Greg and Dan explore both Traditional and Roth IRAs and some of the nuances involved in saving for retirement.
For more info check out https://www.jossbrown.com/ or call (757) 903 - 2127
Many Americans recently received a stimulus check and aren't sure of the best path forward. In this episode of Money Talks, Greg and Dan consider multiple options with "sudden money" and how to plan before receiving it.
#moneytalks #financialwisdom For more info check out https://www.jossbrown.com/ or call (757) 903 - 2127
moneytalks #financialwisdom For more info check out https://www.jossbrown.com/ or call (757) 903 - 2127
moneytalks #financialwisdom For more info check out https://www.jossbrown.com/ or call (757) 903 - 2127
moneytalks #financialwisdom For more info check out https://www.jossbrown.com/ or call (757) 903 - 2127
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For more info check out https://www.jossbrown.com/ or call (757) 903 - 2127
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How can the economy be so poor right now, but stocks are sky rocketing? Well this can be because a few companies are doing very well, while many are doing poorly. UPS, FEDEX, Amazon, Netflix are a few companies doing very well. But cruise lines and entertainment are not great. Just because some markets are doing well doesn't mean that the economy is doing well. The stock market always goes up because the strong companies survive. This we invest with a longview perspective. For more info check out https://www.jossbrown.com/ or call (757) 903 - 2127
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Time stewardship. There are three groups of time: focus time, free time, and buffer time. Focus time is for working at what you need to do your best at. Free time is for rest and relaxation. Buffer time is for everything in between. Wealth advisor Dan Joss explains how to divide our time, so we are always working hard, but resting just as hard. For more info check out https://www.jossbrown.com/ or call (757) 903 - 2127
moneytalks Dan Joss talks about life insurance for unemployed people like some spouses for example. Life insurance for the employed usually is given to the spouse after the employed passes away. However the unemployed spouse brings value tot he relationship and if they were to pass away, the living spouse would need to pay someone to fulfill that value that the deceased spouse brought to the relationship. Those costs should be added together to determine how much life insurance the unemployed spouse deserves. The money would not replace the spouse by any means but it would help with expenses after their death. For more info check out https://www.jossbrown.com/ or call (757) 903 - 2127
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A study in 2016 found that about half of 65 year olds today will eventually develop a disability and require long term care services. This services are usually for everyday basic activities such as bathing and getting out of bed. Health insurance does not cover the help required. Medicaid does not cover this. Long care insurance must be purchased before you need it and before it's too expensive. For more info check out https://www.jossbrown.com/ or call (757) 903 - 2127
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Give as you've decided, not under compulsion. God loves a cheerful giver, but make sure you give what you've decided to give. Make sure you make a budget for how much you give, instead of overthinking how much you will give. Don't give expecting to get something in return, and also don't give more than you are able. We are giving, not trading. For more info check out https://www.jossbrown.com/ or call (757) 903 - 2127
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Everyday brings new decisions and many of those will be money related. Dan Joss has a separate fund called an opportunity fund. These are savings used for opportunities that come up. This is different than a emergency fund because this is specifically put aside for opportunities that are non necessity. If there is an opportunity for a boat, a fancy car, a new computer or anything else, this fund is used for that.
For more info check out https://www.jossbrown.com/ or call (757) 903 - 2127
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People buy many things over their lifetime, but do they know how much total cost of ownership is? Sure a new car might be $20k, but there are other fees that go into that. Taxes, fuel, maintenance, insurance are all "hidden" fees that go into the whole price of ownership for that car. Rent might be cheap but don't forget HOA fees, utilities, WIFI and other various fees. Take this into account when you purchase new things.
For more info check out https://www.jossbrown.com/ or call (757) 903 - 2127
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Social security is a retirement income. Now you can withdraw your benefits within 12 months of starting it. This way you can apply later for a higher benefit when you are 70. This could be a strategic move to do if you think your life expectancy will be higher than previously thought. Or you can do this is you want the remaining spouse to receive full benefits.
For more info check out https://www.jossbrown.com/ or call (757) 903 - 2127
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In this episode of Money Talks, Dan Joss financial advisor and life planner discusses some various statistics concerning he current state of the economy. For example he goes over how people spent their stimulus check that was given during early covid. He also explains the current state of loans and why interest rates are at an all time low.
For more info check out https://www.jossbrown.com/ or call (757) 903 - 2127
moneytalks Save early, save often. All retirement accounts in some sense are IRA's. Traditional IRA's can be funded with $6000 a year, or $7000 if you are over 50. Instead of waiting to put money in your IRA right before tax season, Dan Joss says you should start putting money in the account in early January. By doing this that money has 16 months to "work for you". There are many other IRA's that can help you save even up to 25% of your yearly income. So that $6000 could possible become $50,000 if that's 25% of your total income. For more info check out https://www.jossbrown.com/ or call (757) 903 - 2127
Financial planner Dan Joss says life insurance is an important thing as it helps your loved ones after you death. This money can be used to turn into income, pay off loans, pay off debt, or pay off a house. If you are going to purchase life insurance make sure you have a plan for how that money is to be used after your death.
#moneytalks For more info check out https://www.jossbrown.com/ or call (757) 903 - 2127
moneytalks For more info check out https://www.jossbrown.com/ or call (757) 903 - 2127
Before difficult times, Dan Joss advises that you make a plan or budget that has margin for change. You never know what the future holds, so make sure you can adapt. Maybe these means eating out less, but you should try to be intentional with the money you do spend.
moneytalks For more info check out https://www.jossbrown.com/ or call (757) 903 - 2127 Dan Joss talks about gold in today's episode of Money Talks. Gold has recently gone up in value during these hard times, some say even more than 40%. Interestingly enough Dan thinks that gold is not an investment because it doesn't create value. It can be part of a portfolio however because it holds value.
#moneytalks For more info check out https://www.jossbrown.com/ or call (757) 903 - 2127 Your future self will thank you! Financial planner Dan Joss advises that you save roughly 10-15% a month for retirement and another 10% a month for short term savings/emergency.
moneytalks For more info check out https://www.jossbrown.com/ or call (757) 903 - 2127
When an ira account owner dies it gets distributed to the beneficiaries, if none are listed it goes through probate. We don't want that to happen, so make sure you list beneficiaries and keep them updated. Listen to financial planner Dan Joss go more into detail in this episode of Money Talks.
moneytalks For more info check out https://www.jossbrown.com/ or call (757) 903 - 2127
The dollar isn't the bottom line anymore. Companies are trying to be more charitable and environmentally and community friendly. So when investing, be sure to look at the impact of the company on the community and the world.
moneytalks For more info check out https://www.jossbrown.com/ or call (757) 903 - 2127
Financial planner Dan Joss says that the Bible holds a lot of monetary wisdom regardless of how you view the Bible. There is also a huge correlation between Biblical financial wisdom and nations that are wealthy. Some of these simple principles are, flee debt, live generously, don't be greedy, and be content with what you have.
moneytalks For more info check out https://www.jossbrown.com/ or call (757) 903 - 2127
Money makes the world go round. Most describe it as a necessity and a tool which is true. It's simply a medium of exchange that takes place of a barter system. Money is only as good as the perceived value of it.
moneytalks For more info check out https://www.jossbrown.com/ or call (757) 903 - 2127
Covid 19 has hit communities hard. A great number of people have lost their jobs. Dan Joss advises that if you have free time, you should help your community by volunteering your talents. For those that didn't lose their jobs or take a pay-cut, Dan advises that they help the community by donating to charity. We can get through this together if we give our time, talents, and treasure.
moneytalks For more info check out https://www.jossbrown.com/ or call (757) 903 - 2127
Bequests are specific requests as to how your estate will be divide among your family members when you die. Dan Joss advises that you make these as specific as possible as to avoid confusion for you family. These can simply be written in a letter that you update as often as you want before you pass away.
moneytalks For more info check out https://www.jossbrown.com/ or call (757) 903 - 2127
Inheritance doesn't necessarily have to be given after you die. Financial planner Dan Joss explains that you should use your best judgement with the inheritance money. You can use that money to help your child while you are still alive as it doesn't necessarily have to be given after your death. Dan advises that you think critically about the money that will be given to your children, as if you don't have a plan for it, after you die it will go away.
moneytalks For more info check out https://www.jossbrown.com/ or call (757) 903 - 2127
"Under per capita, the share of any beneficiary that precedes you in death is shared equally among the remaining beneficiaries. ... With per stirpes, if one child were to precede you in death, the other child would receive half, and the children of the deceased child would get the other half." Make sure you write a will that divides your estate the way you want to, because if not it will be divided based on how the local government authorizes it to be divided.
There are many things you can do after the markets drop by 40%. Don’t act from fear. Greg and Dan talk through three likely responses most investors have. Two of them are worth considering seriously.
What are the guys up to today on the podcast? They will talk in good detail about ESG Investing, a movement to make investing better. Environmental. Social. Governance. Most people want responsible investments and ESG’s are for the individuals who want to make a greater impact with their investments. Listen today as Dan explains each letter in ESG investing. Find out how this type of investing maybe right for you. Call Dan Joss at 757-903-2127
nnuity- Is a contract between an individual and an insurance company that requires the insurer to make payments either immediately or in the future. This is income insurance! Listen today as to why people buy annuities, how they work, the type of annuity options, and if they are truly beneficial. If you are not sure about annuities and someone is trying to sell you one, please call a financial planner to find out all the ins and outs of annuities. Especially one who can explain the fees, expense risk, and penalties. A financial planner who knows you well along with your financial goals is the best person to help you decide if you need an annuity.
Contact Dan at jossfinancial.com
These two guys are funny today! What is an RIA- a registered investment advisor, a person who advises clients on investments and manages their portfolios who are registered with the SEC and/or the state. So why is it important to hire an RIA? This podcast will help you understand how an RIA is held accountable with the state, and how having a fiduciary obligation to clients is in the best interest of clients. Listen today to understand the importance on having an RIA to help you with your financial planning and portfolio management. To contact Dan, who is an RIA, see his website jossfinancial.com
Another Bias! Let’s talk Tracking Error Regret. If you ever decided that the grass is greener on the other side, then you have experienced Tracking Error Regret. Find out when TER is a good thing and when it can be a bad thing when it comes to your financial portfolio. Dan and Greg have a great discussion about TER and investing on today’s podcast. Be aware of comparisons when it comes to investing and your portfolio. This is why it is a good idea to have a wealth manager who helps you build a meaningful financial portfolio. Check out Dan’s website at jossfinancial.com
Dan and Greg talk about health savings accounts (HSA) as opposed to flexible spending accounts (FSA) in today’s podcast.
FSA- An employer contribution plan that puts money in an account for employees to use for healthcare needs. This is a use or lose account.
But on the other hand...
HSA- An account contributed to by employer or employee up to a certain maximum per year. Contributions are tax deductible, tax deferrable, and tax free dollars can be removed for use, also these accounts are not use or lose but carry forward year to year.
Listen today as Dan and Greg discuss HSA’s and the benefits of having one and when to actually use it.
Do you have an HSA?
Contact Dan at jossfinancial.com
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Dan encourages today’s listeners to create a vision of giving. Charity Navigator did a study and has noted that charitable contributions have increased by 5% over the years. Most people want to give more but don’t. Listen to Dan’s take on this. Do you have a plan to give? Let Dan help you determine what values you have that align with a charity you wish to support; how to give to that charity while taking into consideration tax and other consequences; and how to get your family involved along with making the best impact.
What does success look like for you in your charitable giving?
Contact Dan at jossfinancial.com
Hear some practical and very applicable tips today from Dan and Greg about what we should teach our children about money. Number one, we should be teaching our children not to covet what others have or compare themselves to others. And two, we would teach our children to be mindful of their money in order to be good stewards.
Listen as Dan shares some financial examples parents can demonstrate for their kids. Then learn from today’s lesson, what it means to pay yourself first. Or
how is compound interest the 8th wonder of the world? Or why you should teach your children to invest early and often?
You will find this to be one of Dan’s most helpful podcasts when teaching kids about money or....
Contact joss financial.com today and have Dan help you build you and your children’s financial portfolios.
Sunk Cost Fallacy is a behavior bias which is based on the behavior of not wanting to let go of something of value based on all the time, money, and effort invested into it. When we sink time and effort into something, we tend to hold on to it even at a risk. Listen to what Dan and Greg have to say about this Fallacy. Have you ever held on to a failing investment? Talk to a planner to help you manage your financial portfolio and help you identify your some of your bias that may be keeping you from your financial goals.
Contact Dan Joss at jossfinancial.com
Dan and Greg talks about money Apps. These are Apps, and there are many out there that Dan names off, that you may download to your phone to help you budget and categorize spending. In other words, these apps help you plan to spend the money you have in an easy way. You can see the categories you are spending from and if you are getting satisfaction from spending money in the way you are spending it. Planning how you spend and evaluating spending is an important part of managing your funds. These Apps are great ways to track spending but also come with some risks as you are sharing personal information and linking bank accounts. So when you do use these Apps, be sure you are using them securely. Also consider the purpose of using these Apps- why am I using this app, what do I hope to accomplish are just a few things you can ask yourself.
Having a Financial Planner is an important part of helping you manage your outflow. A planner can identify areas of spending that may be keeping you from your financial goals. If you are a money app user, but are still struggling to meet your financial goals, it may be time to call an advisor.
Contact Dan by visiting our website jossbrown.com today.
In this episode Dan and Greg breakdown what financial tasks need to be done by year-end. Listen today and learn which tasks need to be accomplished in the current calendar year and which can be done up until tax filing in April. A diligent advisor is an important part or reminding you which tasks need to be done to avoid expensive mistakes. Much of what is shared in today’s podcast is not often common knowledge. Are you sure you understand what needs to be done by December 31st? Do not wait until last minute to accomplish these tasks, as your planner may not have availability to assist you. A good financial advisor will be doing these tasks or reminding you to do these year-end tasks in September!
Visit our website jossfinancial.com for a phone call today.
Dan explains a Financial Portfolio can include many accounts and the basics of a portfolio is cash, stocks, and bonds where cash and bonds are not as volatile as stocks.
Listen to Dan tell Greg about the gas and brakes of a portfolio and explains all types of bonds. Bonds have outperformed large US company stocks 7 of the last 20 years. Stocks perform well over time but can be volatile, where bonds in the long run may outperform stocks. Do you know the difference between a stock and bond? Listen for this podcast to understand the difference.
What is your risk tolerance? Take the Financial Life Stress Test on jossfinancial.com today.
Stocks provide real return and potential for real return. A stock is a part of ownership in a company. Some companies pay a dividend which is a small return on your investment. Each company sets their own policy on how they set the dividend amounts shared with the investors. A few companies do not pay dividends but reinvest those amounts back into the company. Dan also explains the difference between small and large companies and how for many years those small companies have outperformed the large companies on the stock exchange. Greg and Dan also chat about international companies and their roll in the stock market.
Do you have a diversified portfolio that contains stocks?
Listen as Dan gives Greg and overview of 529 Plans. Did you know that a computer or other qualified educational expenses can be paid for with funds from a 529 Plan? That a 529 is not just monies sent to an institution to pay for classes? Did you know that a gain in a 529 plan is tax free if used for qualified expenses? Learn some other interesting facts about 529 Plans in today’s podcast.
Is a 529 Plan part of your investment plan?
In today’s podcast Greg asks Dan why anyone would hire a Financial Advisor. Dan points out that an advisor educates, organizes, and is an accountability partner in the financial life of his clients. The advisor/client relationship is understood as a partnership where the advisor educates the client, understands the clients goals, gives accountability, helps clients avoid mistakes, and evaluates their progress.
- Is your financial life in order?
- Do you understand what documents are required in an organized financial plan?
- Do you have financial goals? What is a financial goal?
- What is one thing you would like a financial planner to help you do?
- Have you ever made a financial mistake?
- Are you ready to hire a financial planner?
Listen to Dan convince Greg that everyone needs a financial planner!
“Herd Mentality” is a psychological principle that refers to the way people naturally conform to the behavior of others. In a positive sense, herd mentality is why traffic lights are societal norms everyone adheres to. But in the world of financial investments, it can be detrimental to your portfolio and ultimately the markets. In 2008, people got spooked and soon everyone was selling—causing American financial markets to drop 40 percent.
Tune in to hear what mullets and Herd Mentality have in common.
People often assume that since a nondeductible IRA contribution does not affect their taxes at the time they contribute, they don’t need to report it. But this is not true. The account owner is responsible for keeping track of the taxes if they want to eliminate the possibility of double taxation when the funds are drawn down the road. The IRS Form 8606 can help.
On this episode of Money Talks, we break down how this often-overlooked form could be the key to keeping your taxes on track.
How do you know how much life insurance is right for you—and is there ever a time you’ll stop needing it? ‘Term’ life insurance is designed to provide coverage through specific seasons of life, and any needs you may encounter during that time. But your family’s situation changes over time, and what you need at 25 is different than what you’ll need in retirement.
On this episode of Money Talks, financial advisor Dan Joss helps us unpack why insurance isn’t something you should just automatically buy—but “explore, consider and evaluate.”
When it comes to market volatility and investments, every investor has a tendency toward either “greed” or “fear”—and both can cloud their ability to make wise decisions. For instance, an investor with a bias toward fear may be more likely to panic and sell, while someone with a bias toward greed carries a tendency to see stock rising and hold on too long.
These natural, human tendencies are just another reason why it’s important to work with an advisor you trust. We can help you assess your personal risk tolerance and make unbiased recommendations.
Easily confused with a second mortgage or home loan, a Home Equity Line Of Credit provides homeowners an opportunity to tap into their home’s value for cash – with the flexibility to draw on it as needed instead of taking a lump sum. It’s almost like having an open checkbook for home renovations, emergencies or other personal need – but paying interest only on what you use (often for rates lower than a credit card).
On this episode of Money Talks, we discuss the pros, cons, and versatility of HELOCs, and why they’re an important tool to discuss with your financial advisor.
Greg talks with Dan about the biblical principle of seeking guidance.
One of the smartest things we can do is admit what we don’t know – then seek the help of a professional who does. Whether you need tax preparation, estate planning or a thorough tooth-cleaning, it just makes good sense to seek out a professional in their field. But asking for help is more than just a good idea.
The Bible considers it wise – repeatedly encouraging us to seek guidance and counsel from well-versed advisors. Ultimately, wise advisors can help us make better decisions, be more purposeful with our financial future, and discover fresh ways to make a greater impact through our daily lives.
Proverbs 20:18 Plans are established by counsel, so make war with guidance.
Proverbs 15:22 Plans fail when there is no council, but with abundant advisers they are established.
Greg and Dan discuss long-term investing and diversification. Additionally Dan discusses what investing and wealth creation actually consists of. Ideas, Labor, Raw Materials, and Capital.