Your Money & Your Life Podcast: Recent Episodes

Donald Cash

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

Long-term care planning is not just about how much money you have. It’s about protecting your choices, dignity, and family relationships before a crisis occurs. In this episode, Don walks through five common mistakes involving care communities, Medicaid, insurance, and family caregiving. Through real-world stories, he shows how early preparation can reduce stress, preserve options, and help loved ones avoid unnecessary financial and emotional burdens. What could your family prevent by planning before care is needed?

Here’s some of what we discuss in this episode:

💡 Planning Matters: Preparation shapes outcomes more than wealth

🏡 Contract Traps: CCRC refund rules can delay access

🧾 Medicaid Planning: IRA assets can trigger costly tax problems

❤️ Protecting Dignity: Good planning preserves family roles

🥪 Sandwich Generation: Early planning reduces stress and chaos

Get in touch with Don and learn more: https://doncashpodcast.com/

Life can change fast, and retirement is no different. In this episode, Don uses recent storms, outages, and unexpected disruptions as a powerful reminder that the biggest retirement risks are often the ones we never saw coming.

Building a plan that gives you options also provides confidence and peace of mind when life takes an unexpected turn. The goal isn’t to predict every storm, but to be ready when one arrives.

Here’s some of what we discuss in this episode:

🏠 Physical Prep: Don’t wait for a crisis

🏥 Health Reality: Plan beyond the diagnosis

🤝 Care Support: Protect the healthy spouse

⏳ Healthy Years: Spend while you can

⚖️ Rule Changes: Build flexible retirement plans

Get in touch with Don and learn more: https://doncashpodcast.com/

A new savings vehicle is generating plenty of headlines, questions, and debate. But beyond the politics and buzzwords, what does this new opportunity actually mean for families trying to build wealth for the next generation? Don breaks down the mechanics, opportunities, and potential pitfalls of Trump Accounts and explores how they compare to other savings strategies.

Here’s some of what we discuss in this episode:

🇺🇸 New Account: Understanding Trump Accounts basics

💵 Free Money: Government seed contribution explained

📈 Growth Potential: Long-term compounding opportunities

⚠️ Control Risk: Children gain ownership at 18

🎓 529 Comparison: Different tools, different goals

🎯 Know The Rules: Avoid costly mistakes

Trump accounts –

https://trumpaccounts.gov/

IRS Form 4547 -

https://www.irs.gov/pub/irs-pdf/f4547.pdf

Different Account Options for Minors -

https://drive.google.com/file/d/1DcDS2WUh6G-Pn9iJYn9hVYF7_zjZqYP8/view?usp=sharing

IRS Notice 2025-68 -

https://www.irs.gov/pub/irs-drop/n-25-68.pdf

Get in touch with Don and learn more: https://doncashpodcast.com/

A lot of families are asking the same question right now: why does everything feel so expensive? Don explores the growing financial pressure facing younger generations and why even high earners feel squeezed. He also highlights the importance of perspective, long-term thinking, and helping younger family members navigate financial stress in a world that often feels overwhelming.

Here’s some of what we discuss in this episode:

💸 Middle-Class Squeeze: Even high earners feel pressure

🏠 Modern Expenses: Housing and childcare changed everything

📱 Social Media Pressure: Comparison fuels financial anxiety

⏳ Wealth Takes Time: Most fortunes build slowly

👨‍👩‍👧 Perspective Matters: Older generations can guide younger ones

Wall Street Article:

https://www.wsj.com/opinion/why-everything-feels-more-expensive-c6d216a8?st=hfN6cG&reflink=desktopwebshare_permalink

Get in touch with Don and learn more: https://doncashpodcast.com/

Don explores one of the biggest financial stories unfolding right now: the massive transfer of wealth from Baby Boomers to the next generation. But as Don explains, this won’t simply be a giant wave of money changing hands overnight. Longer life spans, healthcare costs, taxes, and poor planning could dramatically reshape how much wealth families actually keep, and who ultimately benefits from it.

Here’s some of what we discuss in this episode:

💰 The Wealth Transfer Is Real: Trillions are expected to move between generations over time

🧾 Taxes Could Take More: Future policy changes may dramatically impact inherited wealth

🏥 Healthcare Changes Everything: Long-term care costs can reduce what families ultimately receive

🔄 Roth Strategies Matter More: Today’s tax environment may create unique planning opportunities

🧠 Behavior Drives Outcomes: Emotional decisions often create the biggest financial mistakes

Get in touch with Don and learn more: https://doncashpodcast.com/

Sometimes the biggest financial mistakes aren’t made with bad intentions; they come from trying to do the right thing without the right guidance. When it comes to estate planning, one simple move can trigger massive, unexpected tax consequences for your family. Today, Don walks through a real-life case where a well-meaning decision led to a six-figure tax hit. You’ll learn how capital gains rules actually work and how proper planning can help you avoid costly surprises.

Here’s some of what we discuss in this episode:

📊 Cost Basis Basics: Understand gains and exemptions

⚠️ Planning Mistake: Real estate transfer gone wrong

✅ Correct Strategies: Preserve step-up benefits

🤝 Team Approach: Coordinate advisors effectively

🏁 Your Next Step: Keys to consider before you act

Get in touch with Don and learn more: https://doncashpodcast.com/

Space missions and retirement might seem like worlds apart, but there’s a powerful connection between them. NASA’s Artemis II mission is a reminder that your retirement planning isn’t just about the day you stop working. It’s about what happens before—and after—your retirement date.

In this episode, we’ll use the Artemis II mission to illustrate why the principles of space exploration mirror the best practices for achieving a successful retirement.

Here’s some of what we discuss in this episode:

🚀 Artemis II is a test mission, just like the first 5 years of retirement

💡 Small mistakes in planning can snowball into major problems later

🔑 Preparation and redundancy (like diversification) are key to success

🧑‍🤝‍🧑 A strong retirement plan involves a collaborative team, just like space missions

⚖️ The goal of retirement isn’t the launch (or the finish line). It’s the long-term sustainability and legacy

What is Artemis II – https://en.wikipedia.org/wiki/Artemis_II

Apollo 11 – https://en.wikipedia.org/wiki/Apollo_11

Apollo 13 – https://en.wikipedia.org/wiki/Apollo_13

Get in touch with Don and learn more: https://doncashpodcast.com/

War headlines, rising oil prices, and market swings can make it feel like something bigger is unfolding. But while each situation feels unique, the pattern is often the same- markets react, investors worry, and emotions take over. In this episode, Don continues the conversation on how global conflict impacts markets and what that means for your financial plan. He focuses on what it means to be prepared- because the real question isn’t if volatility will happen, but whether your plan is built to handle it.

Here’s some of what we discuss in this episode:

⚠️ Conflict impact: Geopolitical events can trigger short-term market swings

⛽ Oil & markets: Rising energy prices influence inflation and sentiment

📚 Historical lessons: Every crisis feels new, but patterns repeat

🧭 Planning strategy: A well-built plan prepares for uncertainty

🧠 Emotional control: Discipline matters more than predictions

Episode Links:

Tariff Crash and Recovery –

https://www.jpmorgan.com/insights/markets-and-economy/top-market-takeaways/tmt-liberation-day-in-retrospect-6-things-that-surprised-investors

Emotions and Investing –

https://investor.vanguard.com/investor-resources-education/article/the-science-behind-money-and-emotion

https://www.visualcapitalist.com/sp/roller-coaster-of-emotional-investing/

Gas Prices –

https://finance.yahoo.com/news/gas-prices-every-decade-since-110002903.html?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&guce_referrer_sig=AQAAAEzDn58B-vgIQAZ1BgK9Tl5l2kWz9H0oSs8JsLwqhPMznVi1SxTvYM7o1fLvwy2h0E_Pk5xcZu4gqt6jiP7S9RhfRjxA2fh8qI_BoAaLuP-1kb2nUGcu1JE-lvGecoq8pIcM0_Cdbmccmf21ELwbZ3_Y9HZLXQfIbaHhuMthN-FP

The Ocean Gate Titan Story –

https://www.usatoday.com/story/news/nation/2023/06/22/timeline-oceangate-founding-expedition-history/70344305007/

The Blues Brother’s Movie Clip –

https://youtu.be/uHM9swoDTsw?si=oGQSmWLVU19QWkqV

Get in touch with Don and learn more: https://doncashpodcast.com/

When global conflict breaks out, it often triggers a wave of anxiety among investors. Headlines warn of uncertainty, markets react sharply, and many people begin to wonder whether this time might truly be different. But history tells a very consistent story about how markets behave during periods of geopolitical tension. Don explains how markets have historically responded to global conflicts and why long-term investors should be cautious about reacting emotionally to short-term news.

Here’s some of what we discuss in this episode:

🌤️ Spring & March Madness: Unpredictability appears in markets too

🌍 Global Conflict Concerns: News about Iran raises investor anxiety

📈 Historical Recoveries: Markets often rebound after crises

🧩 Diversification Matters: Balanced portfolios reduce volatility risk

🎲 Speculation Risks: Emotional decisions can hurt long-term results

📰 Media Influence: Headlines often amplify fear and uncertainty

Episode Links:

150 years of Market Drop and Recoveries –

https://www.morningstar.com/economy/what-weve-learned-150-years-stock-market-crashes

Too Much Concentration Risk in the Stock Market –

https://russellinvestments.com/content/ri/us/en/insights/russell-research/2024/09/today_s-markets-are-extremely-concentrated-what-does-this-mean-f.html

How well did a well-diversified portfolio in 2022 –

https://www.morningstar.com/portfolios/why-portfolio-diversification-helped-investors-2022

Lessons over the past 50 years –

https://www.boldin.com/retirement/history-of-market-downturns/

The Dalbar Study –

https://www.forbes.com/sites/wesmoss/2026/01/27/how-the-average-investors-returns-compare-to-the-market/

The Media Effect on the Investing –

https://kayne.com/insights/why-investors-should-avoid-the-noise-of-everyday-media/

Get in touch with Don and learn more: https://doncashpodcast.com/

Tax season has a way of sneaking up on people, just like a late winter snowstorm. One minute you think you're in the clear… the next, deadlines are piling up, and forms keep showing up in the mailbox. In this episode, Don walks through the most important April 15 tax updates for 2026 and new rules that could impact higher earners. Whether you're filing, extending, contributing, or adjusting withholdings, Don provides a practical checklist to reduce stress and avoid costly mistakes before the deadline hits.

Here’s some of what we discuss in this episode:

📅 Deadlines & Extensions: What must be paid by April 15 (even with an extension)

📊 Refund Shifts & Tax Law Changes: Why lower brackets may see bigger refunds

🏡 New Jersey Tax Updates: Property tax relief, retirement exclusions, and PAS-1 filing

🎁 Charitable & QCD Planning: Smart giving strategies before filing

💰 Catch-Up Contribution Changes: Roth requirements for higher earners

✅ Final April 15 Checklist: IRA, HSA, SEP, Solo 401(k), and tax credit review

Resources for this episode:

Tax estimates –

https://www.irs.gov/faqs/estimated-tax/individuals/individuals-2

OBBBA – Tax changes –

https://www.hrblock.com/tax-center/irs/tax-law-and-policy/one-big-beautiful-bill-taxes/?srsltid=AfmBOoocoe8Os9sGXLBBmzoSWSFq8guezLiJLObMGUi5UHfPQ4jK-HD3

SALT Deduction change –

https://blog.taxact.com/what-is-the-salt-tax-deduction/

What Tax Forms Do I Need to Keep for My Taxes –

https://share.google/aimode/Dir3OK4dgTglBT8rQ

NJ PAS – 1

https://www.nj.gov/treasury/taxation/propertyreliefforms.shtml

QCD forms –

https://www.morningstar.com/retirement/irs-adds-new-reporting-code-charitable-ira-gifts

Paper Checks Going Away –

https://www.irs.gov/newsroom/irs-to-phase-out-paper-tax-refund-checks-starting-with-individual-taxpayers

Trump Accounts –

https://trumpaccounts.gov/

Get in touch with Don and learn more: https://doncashpodcast.com/

Some investments shine brightly, until they burn the people holding them. Don explores how emotional decisions, flashy advertisements, and market hype can quietly derail long-term financial security. Protecting your future often means resisting what looks exciting in the moment.

Here’s some of what we discuss in this episode:

🧠 Emotional Investing: Fear and greed shape outcomes

📺 Financial Advertising: Hype versus real risk

₿ Crypto & Meme Stocks: Volatility and speculation

💰 Income Planning: Stability beyond market swings

⚖️ Risk Balance: Performance without overexposure

Resources:

Yrefy – Lawsuit

https://advertisinglaw.fkks.com/post/102jz6l/yrefy-enters-into-750k-settlement-with-massachusetts-over-use-of-celebrity-endor

Bitcoin Crash –

https://www.tradingview.com/news/newsbtc:aaa5b3d71094b:0-why-the-bitcoin-price-crash-toward-60-000-was-necessary/

Meme Stock Crash –

https://www.cnbc.com/2026/01/29/gamestop-meme-stocks-retail-investors-wall-street-young-investors.html

Get in touch with Don and learn more: https://doncashpodcast.com/

Winter storms have a way of revealing weak spots, just like life’s storms bring financial surprises in retirement. In this episode, Don uses recent winter weather events as a backdrop to highlight the expenses and risks that often catch retirees off guard. The focus isn’t on panic, but preparation, and planning ahead for when life’s storms hit.

Here’s some of what we discuss in this episode:

❄️ Financial Storms: Why unexpected costs hit harder in retirement

🧰 Storm Preparation: Planning before problems appear

🔌 Backup Systems: Home generators as a planning metaphor

🧾 Expense Pressure: Healthcare and insurance costs adding up

🏠 Insurance Coverage: Knowing what policies you actually need

🛡️ Long-Term Care: Planning for one of retirement’s biggest risks

Get in touch with Don and learn more: https://doncashpodcast.com/

Start the new year strong! In this episode, Don reframes 2026 resolutions around the intersection of health, relationships, and financial planning, and shows why ignoring one often undermines the others. If you want resolutions that support your life instead of competing with it, this episode sets a better foundation for 2026!

Here’s some of what we discuss in this episode:

🎯 2026 Reset: Rethinking resolutions with purpose and clarity

🏃‍♂️ Health as Wealth: Why wellness is a financial strategy

📵 Tech & Relationships: Using smartphones as tools, not substitutes

🛡️ Protection Over Growth: Reducing risk as retirement approaches

📜 Estate Plan Check: Updating beneficiaries before it’s too late

Get in touch with Don and learn more: https://doncashpodcast.com/

The holidays bring something most families rarely get enough of: time together. In this special year-end episode, Don Cash highlights three important financial conversations that are often avoided, but could make a lasting difference for the people you love.

Here’s some of what we discuss in this episode:

🎄 Talking with Parents About Money & Safety

🧓 The Growing Risk of Elder Financial Fraud

👨‍👩‍👧 Conversations with Kids & Grandkids

📄 Essential Documents After Age 18

💬 Spousal Conversations About Retirement & Purpose

Get in touch with Don and learn more: https://doncashpodcast.com/

As the calendar races toward December 31, Don breaks down the year-end financial moves that can save retirees thousands- both now and for years to come. In this episode, he explains why December, not April, is the true “strategy season” for tax planning and highlights the opportunities that disappear once the ball drops on New Year’s Eve. From using Qualified Charitable Distributions to reduce taxable income, to unlocking the little-known 0% capital gains bracket, to timing Roth conversions within favorable tax ranges, Don shows how proactive planning creates powerful long-term benefits.

Here’s some of what we discuss in this episode:

🔄 Tax Deadlines: Why December 31 is the real planning cutoff
🎁 QCD Advantage: Donate smarter, reduce income, avoid IRMAA
📈 0% Capital Gains Bracket: Sell appreciated assets with no federal tax
🔵 Roth Conversion Sweet Spot: Staying within the 24% bracket
💡 Medicare Fixes: How to appeal unexpected IRMAA surcharges
📋 Year-End Checklist: RMDs, deductions, gifting, beneficiaries

Get in touch with Don and learn more: https://doncashpodcast.com/

The holidays bring families together, and sometimes, they reveal things we’ve been too busy to notice. In this episode, Don talks about the subtle signs that a parent or loved one may need extra support and how Thanksgiving gatherings can spark important long-term care conversations. You’ll hear how the holidays are not just a celebration, but an opportunity to protect the people you love.

Here’s some of what we discuss in this episode:

🦃 Thanksgiving & Family Time: what holiday gatherings reveal about aging loved ones

👀 Holiday Reality Check: noticing changes in behavior, mobility, or routines

📍 First Steps in LTC Planning: how to begin the conversation without overwhelming anyone

🏥 Medical & Care Options: understanding home care, assisted living, and higher-level care

💸 Financial Impact: preparing for the true cost of long-term care

📄 Essential Legal Documents: powers of attorney, healthcare directives, and protection strategies

Resources for this episode:

InFocus: Local man spends 350+ days on beach in honor of late wife:

https://www.fox29.com/news/infocus-local-man-spends-350-days-on-beach-in-honor-of-late-wife

East of the Boardwalk: The Miracle of Ocean City’s #1 Beach Bum

https://a.co/d/a356HPv

Get in touch with Don and learn more: https://doncashpodcast.com/

As the year wraps up, it’s time to make smart moves that can lower your tax bill and set you up for a stronger 2025. Don breaks down key year-end planning strategies- covering deductions, charitable giving, and state-specific opportunities- that could help you keep more of what you’ve earned. Don’t miss these insights that might save you thousands before December 31!

Here’s some of what we discuss in this episode:

💼 New Deductions: key year-end tax updates and changes for 2025

📊 Above & Below the Line: understanding how different deductions impact your AGI

💰 End of Year Strategies: planning strategies for high earners under age 65

❤️ Giving Back: smart charitable and estate planning opportunities

🏛️ State Savings: unique New Jersey deductions and credits retirees should know

📅 Year-End Tips: what to do before December 31 to maximize savings

Get in touch with Don and learn more: https://doncashpodcast.com/

In this episode, Don and Marc huddle up for a fourth-quarter financial game plan to help you finish the year strong. With 2025 winding down, Don breaks down the key tax moves every retiree and pre-retiree should know before December 31st- including the expanded SALT deduction, the new Bonus Senior Deduction, and strategies for charitable giving and Roth conversions.

Here’s some of what we discuss in this episode:

🏈 Finishing the year strong with smart tax planning

💰 SALT deduction jumps to $40K for many households

🎁 Bonus Senior Deduction for retirees 65+

🙌 Bunching vs. QCDs for charitable giving

🔁 Roth conversions before rates rise again

🗓️ Year-end checklist to act before Dec. 31

MyLight

https://morelamplight.com/about-morelamplight/

Get in touch with Don and learn more: https://doncashpodcast.com/

The final months of the year are more than just football and holiday prep; they’re the most important time for financial strategy. As 2025 winds down, Don shares his year-end checklist for retirees and pre-retirees, covering the key moves that can save you money and set you up for success in 2026. From new tax law opportunities to shifting Medicare rules, this is the season to review, adjust, and make every dollar count.

Here’s some of what we discuss in this episode:

💰 Tax Planning: Year-end opportunities under the new tax law

🧮 RMD Rules: Avoiding penalties and double distributions

🩺 Medicare Enrollment: Reviewing plans and prescription changes

❤️ Charitable Giving: Maximizing QCDs for tax-free generosity

🏡 NJ Tax Perks: Property tax breaks and “Stay NJ” benefits

Get in touch with Don and learn more: https://doncashpodcast.com/

Medicare open enrollment is almost here, and this year it’s shaping up to be one of the most dramatic seasons ever. Millions of retirees are about to lose their Advantage plans or face major changes, while even those with traditional Medicare supplements could see higher costs ahead. In this episode, Don breaks down the why, what, when, and how of the Medicare shakeup.

Here’s some of what we discuss in this episode:

🍂 Medicare open enrollment runs Oct 15 – Dec 7

⚖️ Understanding Medicare Advantage vs. Supplement

🚨 2 million people losing Advantage coverage this year

💊 Rising medical & prescription costs driving plan changes

📝 Don’s “3 M’s”: Mail, Map, and Math

Get in touch with Don and learn more: https://doncashpodcast.com/

Planning for retirement comes with a flood of questions, some about taxes, others about investments, and often about protecting your family. Today, Don breaks down New Jersey’s new property tax relief program, explains how it bundles multiple programs into one, and shares what you need to know before the October 31st deadline. Don also weighs in on life insurance, when it’s a useful tool for family protection and estate planning, and when it’s just another aggressive sales pitch.

Tune in to hear Don's insights on these topics and more in this week's listener question episode!

Here’s some of what we discuss in this episode:

🏠 Decoding NJ property tax relief programs

💡 Smart questions to ask before buying life insurance

📈 Turning decades of savings into a retirement strategy

🔑 Why discipline and purpose matter more than timing the market

Get in touch with Don and learn more: https://doncashpodcast.com/

Feeling the squeeze of inflation? Even as headlines say it’s “cooling,” prices at the grocery store, restaurants, and on vacation aren’t letting up. In this episode, Don breaks down the paradox retirees face today: interest rates may be dropping, but the cost of living isn’t.

Here’s some of what we discuss in this episode:

💸 Why inflation still feels “sticky” even when the government says it’s easing

🏥 How inflation impacts healthcare, drug costs and Medicare premiums

🏠 How the generational divide impacts finances differently for millennials vs. retirees

📉 What lower interest rates mean for your savings and CDs

📊 How diversification, tax planning, and estate strategies can protect your future

Get in touch with Don and learn more: https://doncashpodcast.com/

Estate planning rules can be complex and costly if you miss a key step. In this episode, Don explains how recent changes to the estate tax exemption could impact your legacy, and why the term “permanent” in Washington rarely means forever. You’ll learn about the important concept of portability (preserving your late spouse’s unused estate tax exemption) and why filing the right form, even when no tax is owed, can save you millions.

Here’s some of what we discuss in this episode:

💰 Understand new estate tax exemption limits

🔄 Learn how portability works (and why deadlines matter)

🏦 Avoid costly filing mistakes that can erase tax savings

📉 Real case: $1.5M lost due to one oversight

📝 Key documents every 18+ year-old should have

The pros and cons of portability –

https://taxschool.illinois.edu/post/pros-and-cons-of-portability/

The Wall Street Journal Article - $1.5 million portability mistake

https://www.wsj.com/personal-finance/taxes/estate-taxes-portability-planning-mistakes-26111632?st=AbePZ6&reflink=desktopwebshare_permalink

Get in touch with Don and learn more: https://doncashpodcast.com/

This week, we’re back to take a deeper dive into the One Big Beautiful Bill (OBBB). Don breaks down how this sweeping legislation impacts standard deductions, estate taxes, Roth conversions, charitable giving, and more. Tune in to learn why the years 2025–2028 might be your “golden window” for smart, tax-efficient planning, and how to take full advantage of it.

Here’s some of what we discuss in this episode:

💸 Extra deduction opportunities after age 65

🏡 Estate tax changes that benefit most retirees

🔁 Strategic Roth conversion window until 2028

💰 Avoiding costly Medicare surcharges

🧾 The hidden costs of becoming a single filer

Get in touch with Don and learn more: https://doncashpodcast.com/

A new tax bill has officially passed (you’ve probably heard it mentioned as the “Big Beautiful Bill”). In this episode, Don breaks down what the newly signed bill actually means for retirees, pre-retirees, and anyone planning for their financial future. While the bill made headlines for its timing and optics, the real story lies in the planning opportunities it creates. Don walks through key updates, including the extension of current tax brackets, a higher SALT deduction cap, a new senior bonus deduction, and strategic opportunities for Roth conversions.

Here’s some of what we discuss in this episode:

🧾 What “permanent” really means in Washington tax law

📊 Extended tax brackets offer a rare window for low-tax Roth conversions

🧾 SALT deduction cap raised from $10K to $40K

💸 The new $12K “senior deduction” and its impact on Social Security taxes

💰 Estate tax exemption raised to $15M

⏳ Why 2028 could be a critical planning deadline

Get in touch with Don and learn more: https://doncashpodcast.com/

There’s a lot happening in the world right now- but quietly moving through Congress and the Senate is a major new tax bill. If passed, it could have a significant impact on retirees, investors, and families with larger estates. In this episode of Your Money and Your Life, Don breaks down the key provisions you need to know.

Here’s some of what we discuss in this episode:

📉 Proposed tax breaks for retirees over 65

🧾 Why Social Security is still taxable under the new bill

🏥 Medicaid changes and how they may (or may not) affect long-term care

🏛️ Clearing up confusion on potential estate tax updates

💡Cash Corner: planning moves to protect what you love

Resources for this episode:

New Jersey’s Estate and Inheritance Tax Episode:

https://yourmoneyyourlife.podbean.com/e/the-2025-social-security-increase-new-jersey-triple-tax-benefit/

Get in touch with Don and learn more: https://doncashpodcast.com/

We’ve all heard of FOMO: fear of missing out. But in 2025, a new investor emotion is taking center stage: FOGI, the fear of getting in. After watching market volatility, political headlines, and wild swings in interest rates, many investors are stuck sitting on the sidelines, afraid to buy back in, afraid to buy too late, and most of all, afraid of looking foolish. It’s not just about risk anymore. It’s about regret.

In this episode, Don discusses the emotional roadblocks keeping investors frozen, including timing fatigue and media panic cycles.

Here’s some of what we discuss in this episode:

🌀 What is FOGI and how it’s different from FOMO

💣 Why timing the market is so tempting… and so damaging

📢 The impact of media noise and headlines

🎯 What smart investors do instead of chasing or fleeing

🔄 Real strategies for getting back in without regret

Get in touch with Don and learn more: https://doncashpodcast.com/

In this eye-opening episode, Don and Marc tackle one of retirement’s most overlooked traps: double taxation on retirement income. From after-tax 401k contributions to state tax rules that sneak up on unsuspecting savers, they break down how easily your hard-earned money can get taxed more than once, and what to do about it.

Here’s some of what we discuss in this episode:

💰 What “double taxation” actually means

⚠️ How NJ tax rules increase the risk

📉 The 401k rollover mistake that’s easy to make

📋 How Form 8606 helps prevent being taxed twice

📈 Strategies to protect both you and your heirs

Get in touch with Don and learn more: https://doncashpodcast.com/

What if taxes on your Social Security benefits disappeared entirely? That’s one of several proposals being floated in Washington, and in this episode, Don and Marc break down what it could mean for retirees. They explain how Social Security benefits became taxable, why outdated income thresholds are causing more people to pay taxes today, and explore the possible reforms being discussed.

Here’s some of what we discuss in this episode:

📉 Why more retirees are paying taxes on Social Security

🕰️ How outdated income limits haven’t kept up with inflation

💡 Legal strategies to reduce (or eliminate) Social Security taxes

📊 The "provisional income" formula

💬 State tax considerations for Social Security benefits

Resources for this episode:

No tax on overtime or tips and reduction of Social Security tax – Wall Street Journal

https://www.wsj.com/politics/policy/overtime-tax-plan-bill-103db323?st=bdShTX&reflink=desktopwebshare_permalink

IRS – How much of my Social Security benefits are taxable –

https://www.irs.gov/newsroom/irs-reminds-taxpayers-their-social-security-benefits-may-be-taxable

1984 Change to Social Security –

https://www.fool.com/retirement/2025/01/15/average-social-security-benefit-1984-now/

1993 Change to Social Security –

https://www.aarp.org/social-security/history-timeline/

Donald W. Cash Article on Planning in the May 2025 Slott Report –

https://irahelp.com/newsletter/C2PMay2025

Get in touch with Don and learn more: https://doncashpodcast.com/

With headlines full of tariffs and political drama, it’s easy to miss a major win for New Jersey homeowners, especially retirees. In this episode of Your Money & Your Life, Don and Marc shine a spotlight on the 2025 NJ property tax relief programs that could save residents thousands of dollars. From the long-standing Property Tax Freeze program to the more recent ANCHOR rebate and the brand-new Stay NJ benefit, the guys break down who qualifies, how the programs work, and what’s changed.

Here’s some of what we discuss in this episode:

🧾 NJ’s 3 Key Property Tax Relief Programs

📦 Why NJ is fighting to keep retirees from moving away

🏡 Stay NJ: Up to $6,500 in annual property tax relief

🔍 A few nuances of these property tax programs

📅 Key deadline: PAS-1 form due by October 31, 2025

Resources for this episode:

The Stay NJ Program –

https://www.nj.gov/treasury/taxation/staynj/index.shtml

NJ PAS-1 form (The unified Property Tax Freeze, Anchor Rebate and Stay NJ Program)–

https://www.nj.gov/treasury/taxation/pdf/24-pas1cp.pdf

NJ Income Tax Rates –

https://blog.turbotax.intuit.com/income-tax-by-state/new-jersey-109037/

NJ Income Tax for Seniors –

https://www.nj.gov/treasury/taxation/njit7.shtml

Get in touch with Don and learn more: https://doncashpodcast.com/

Tariffs, tariffs, tariffs- they’re dominating the headlines. With new tariffs implemented across nearly 90 countries, market volatility has surged, investor anxiety is rising, and confusion is everywhere. Don brings clarity to the chaos by explaining what tariffs actually are, who really pays them, and why the market is reacting the way it is.

Here’s some of what we discuss in this episode:

📦 What tariffs are and who’s really footing the bill

📉 How markets are reacting to tariff headlines

🔍 The inflation impact (and media spin)

📊 Why diversification still wins in volatile markets

🔁 Historical lessons from past downturns

Get in touch with Don and learn more: https://doncashpodcast.com/

Today we’re piggybacking off last episode’s conversation about market volatility and the emotion that sets in for investors. Is this time different than market corrections of years past? People feel inclined to panic during turbulent times, so Don will explore that fear by breaking down what’s actually happening, investor fears, and what history can teach us about managing uncertainty.

Here’s some of what we discuss in this episode:

📉 Market corrections are normal—how should you handle the headlines?

💡 Reversion to the mean explains why recent big gains may not last

📊 How today’s market reminds Don of the late 90s/early 200s.

📈 Diversified portfolios historically weather volatility better

🧠 The key to confidence is having a plan—and sticking to it

Get in touch with Don and learn more: https://doncashpodcast.com/

In this episode, Don Cash tackles the pressing question on everyone’s mind: Should we panic about recent market drops? With the stock market experiencing sharp fluctuations and fears of a recession looming, he breaks down the economic landscape and provides a clear perspective on what really matters for investors.

💰 Don covers inflation to the "Magnificent 7" stocks—including the dangers of market concentration and why diversification is key. He also introduces a powerful storm analogy to illustrate how many investors live on an "Island of Complacency", ignoring risks until disaster strikes.

Here’s what we discuss in this episode:

🔄 The cyclical nature of market corrections – Why they happen & how to stay calm
⚠️ Understanding investment risks – The downside of putting too much in one place
📰 How media hype affects investor psychology – Separating fear from reality
📊 Why diversification matters – A balanced portfolio can mean fewer sleepless nights
🌪️ The “Island of Complacency” analogy – What happens when risk is ignored

Get in touch with Don and learn more: https://doncashpodcast.com/

In this episode, Don and Marc explore smart tax moves to consider before the April 15th deadline. They focus on ways to take advantage of accounts like IRAs and HSAs, as well as important deductions that often go overlooked. The conversation highlights opportunities to maximize savings for the 2024 tax year, covering everything from retirement contributions to charitable donations.

They also explore how certain tax moves can help you minimize your taxable income, whether you're self-employed or planning for retirement. This episode offers practical tips for anyone looking to make the most of their tax situation before filing.

Here’s some of what we discuss in this episode:

Tax forms to be on the lookout for in retirement
Strategies for maximizing IRA contributions
The benefits of SEP IRAs for self-employed individuals
Health savings accounts (HSAs) and their tax benefits
Tax considerations for charitable contributions and qualified charitable distributions (QCDs)

Resources for this episode:

HSA accounts –

https://www.irs.gov/publications/p969

1099 forms –

https://www.kiplinger.com/retirement/tax-forms-retirees-receive-and-what-they-mean

Wall Street Journal Article on 2024 Tax Planning –

https://www.wsj.com/personal-finance/retirement/retirement-taxes-contributions-withdrawals-guide-bc308053?st=MNY85o&reflink=desktopwebshare_permalink

Get in touch with Don and learn more: https://doncashpodcast.com/

We knew this year would bring plenty to talk about, and so far, it's certainly living up to that expectation. In this episode, Don and Marc dive into the key economic issues making headlines: government spending, tariffs, and the DOGE (Department of Government Efficiency).

With a new administration in office, they break down important economic indicators like inflation and employment, and discuss how tariffs impact both inflation and global trade. They also take a closer look at the history of tariffs, their economic effects, and why the Federal Reserve has decided to keep interest rates steady.

The conversation also covers the DOGE initiative, led by Elon Musk, the tensions surrounding the project, and the growing federal deficit and what it means for taxpayers. Tune in for a timely and thought-provoking conversation today!

Here’s some of what we discuss in this episode:

Current key economic indicators and recent Fed actions
The historical context of tariffs and their role in government revenue
The Department of Government Efficiency (DOGE) and it’s purpose
The controversy over DOGE’s authority and access to sensitive information
The impact of Government spending on Americans

Resources for this episode:

The US Debt Clock

https://www.usdebtclock.org/

Get in touch with Don and learn more: https://doncashpodcast.com/

Just this month, Los Angeles was ravaged by unprecedented, devastating wildfires. These catastrophic events have left thousands of homeowners grappling with total losses, denied claims, underinsurance, and unexpected coverage gaps. In the wake of these tragedies, it’s important to ask: Could this happen to you? Are you truly covered, or do you just think you are?

Here’s some of what we discuss in this episode:

The basics of homeowners insurance and what it typically covers
Having separate flood insurance if you live in a flood-prone area
Real-life examples of common insurance claims, like water leaks and fire damage
Why it’s important to review your insurance policy regularly

Links for today's show:

FAQ’s on Homeowners Insurance –

https://www.nj.gov/dobi/ins_ombudsman/om_hofaq.htm

NJ Homeowners Risks –

https://www.nj.com/cape-may-county/2025/01/insurance-companies-are-hiking-costs-dropping-nj-homeowners-more-often-due-to-climate-risks.html

https://www.cbsnews.com/newyork/news/weather-disaster-home-insurance-new-jersey/

Check your home’s elevation –

https://whatismyelevation.com/

Get in touch with Don and learn more: https://doncashpodcast.com/

Happy 2025! It’s hard to believe that 25 years have passed since the world braced itself for the so-called “Millennium Bug.” For those old enough to remember, it was a time filled with fear, speculation, and intense efforts to prevent potential chaos.

This week, Don and Marc explore the parallels between then and now and reflect on the lessons learned from that era of uncertainty.

Here’s some of what we discuss in this episode:

Reflecting on the Y2K and its parallels to today
Lessons from the Dom-Com bubble
The importance of diversification in investing
Looking at history and learning from the past
Potential changes on the horizon in 2025

Market returns 2000-2010

https://www.bogleheads.org/forum/viewtopic.php?t=435176

Get in touch with Don and learn more: https://doncashpodcast.com/

As the holiday season approaches, many of us find ourselves gathering with loved ones, sharing stories, laughter, and sometimes, unexpected topics. In this holiday edition of the show, Don brings a fascinating mix of cheer and wisdom to the table by helping you with three vital financial conversations you can have with loved ones this holiday season.

Here’s some of what we discuss in this episode:

What does Don think about the drones that have been over New Jersey?
Why you should talk with aging parents about their financial and legal documents.
The best approach to guiding children towards financial independence.
How to frame discussions with your spouse.
Don’s favorite Christmas movies.

Get in touch with Don and learn more: https://doncashpodcast.com/

December is here, so in this episode, Don and Marc take a moment to look ahead at what changes may be coming in 2025, particularly when it comes to IRA planning and potential tax shifts. Listen in as they break down the key factors to consider when deciding whether to convert your traditional IRA to a Roth IRA, including tax rates, the timing of your conversion, and how it fits into your overall retirement strategy.

Throughout the conversation, Don shares some practical examples, such as how retired couples or those nearing retirement can benefit from converting at today’s lower tax rates. The episode also covers important considerations like Medicare premiums and the potential for future changes to Social Security taxation.

Here’s some of what we discuss in this episode:

Converting traditional IRAs to Roth IRAs vs deferring taxes
Ideal scenarios for conversions, such as being retired or working part-time before age 73
The potential impact of Roth conversions on Medicare premiums (IRMAA)
The advantages of being married for Roth conversions
Changes coming down the pike for 2025 to have on your radar

Get in touch with Don and learn more: https://doncashpodcast.com/

After months of political debates and campaign ads, the election season has finally come to a close. While some of our clients are celebrating the results, others are feeling disappointed. However, the reality is that many of the key financial issues we faced before remain unchanged. Taxes, investing, Medicare, long-term care, estate planning—these are the areas we’ll continue navigating regardless of the election outcome.

In today’s episode, we’re going to discuss what we might expect now that the Republicans have secured control of the Senate and likely the House of Representatives. We’ll also dive into tax and planning considerations in the wake of the election and explore what lies ahead.

Here’s some of what we discuss in this episode:

The possible extension of the Tax Cuts and Jobs Act
State and local tax (SALT) proposals
The potential elimination of taxes on Social Security benefits
The Social Security solvency issue and proposed changes

Get in touch with Don and learn more: https://doncashpodcast.com/

Medicare Open Enrollment is upon us! Running from October 15th to December 7th, this window allows you to make important changes to your healthcare coverage. So, what should you be on the lookout for and what mistakes should you avoid during this time?

Today, we’re excited to welcome the one and only Ray Martin, the owner of Martin & Associates Insurance Services in Irvine, California. who will help us navigate this process. He is the author of The Nuts & Bolts of Original Medicare, Medicare Advantage and Medicare Supplement Insurance, and is a true expert in the field. Tune in as he walks us through the ABCs of Medicare and shares valuable tips for making informed choices.

Here’s some of what we discuss in this episode:

What is Medicare Open Enrollment season and how does it affect most seniors?
Changes in Medicare advertising regulations
The difference between Medicare Advantage and traditional Medicare plans
Benefit changes in Medicare Advantage and Part D plans due to the Inflation Reduction Act
The impact of IRMAA on seniors and the potential for increased costs
Key mistakes to avoid during Open Enrollment

Resources for this episode:

Last Medicare show –

https://doncashpodcast.com/podcast/the-abcs-of-medicare/

Medicare Part D –

https://www.medicare.gov/drug-coverage-part-d

Medicare Advantage –

https://www.medicare.gov/health-drug-plans/health-plans/your-health-plan-options

Medicare Plan Big Changes for 2025 –

https://www.wsj.com/health/healthcare/medicare-plans-are-making-big-changes-for-2025-heres-how-to-navigate-them-5c81fd05?st=aafBaT&reflink=desktopwebshare_permalink

Get in touch with Don and learn more: https://doncashpodcast.com/

In the wake of Hurricanes Helene and Milton, many are grappling with the devastation these powerful storms have caused. Now, more than ever, it’s crucial to understand how to safeguard our homes and finances against such natural disasters.

In today’s episode, Don offers a comprehensive guide on protecting your assets through homeowners and flood insurance. He and Marc also share some ways that you can support those affected by Hurricane Helene.

Here’s some of what we discuss in this episode:

Some ways to help those who have suffered in North Carolina
The tax benefits of charitable contributions + how QCDs work
Having proper homeowners’ insurance + the two sections of a homeowners policy
The difference between homeowners insurance and flood insurance
When to apply for flood insurance to ensure coverage

Resources for this episode:

Check out the Charity Navigator HERE

Visit Samaritan’s Purse

National Flood Insurance Program

https://www.floodsmart.gov/get-flood-insurance?gad_source=1&gclid=Cj0KCQjw05i4BhDiARIsAB_2wfA3xCHvd2i8V70upWfIhBR3h1ewIuse_3fNgV1GVKi7IHvZtC3rM6waAuZ6EALw_wcB

How to Prepare for a Storm

https://www.housebeautiful.com/lifestyle/organizing-tips/a28872132/how-to-prepare-for-a-hurricane/?utm_source=google&utm_medium=cpc&utm_campaign=mgu_ga_hbl_md_pmx_hybd_mix_us_281495960970879&gad_source=1&gclid=Cj0KCQjw05i4BhDiARIsAB_2wfBk2KXH8X_geZxDfxAFL31PJVHy6FCC1VNArz7pR3cVz-XJCmjya1UaAiQdEALw_wcB

What’s my home elevation?

https://whatismyelevation.com/location/35.59507,-82.55426/Asheville--NC--United-States-

Get in touch with Don and learn more: https://doncashpodcast.com/

As the leaves turn and we embrace the fall season, it's the perfect time to turn the page on your financial planning and get updated on the latest news that could impact your retirement. In this episode, we’re going to update you on the projected Social Security cost of living adjustment (COLA) for 2025 and the trip tax benefit for those residing in New Jersey.

Here’s some of what we discuss in this episode:

What the 2.5% increase means for your actual benefit each month.
How Medicare premiums might eat into your increase.
Details on the triple tax benefit for New Jersey residents.
The elimination of the New Jersey estate tax, which used to be a significant burden for many families.

Resources for this episode:

Historical Social Security Cost of Living Increases –

https://www.ssa.gov/oact/cola/colaseries.html

How the COLA is calculated –

https://www.ssa.gov/oact/cola/latestCOLA.html

The COLA for 2025-

https://www.cnbc.com/2024/09/11/social-security-cost-of-living-adjustment-for-2025-may-be-2point5percent.html

Medicare Part B Premiums and IRMAA surcharges for 2025 –

https://www.kiplinger.com/retirement/medicare/medicare-premiums-2025-projected-irmaa-for-parts-b-and-d

New Jersey Senior Freeze – Property Taxes

https://www.nj.gov/treasury/taxation/ptr/eligibility.shtml

New Jersey Anchor Benefit –

https://www.nj.gov/treasury/news/2024/08132024.shtml#:~:text=Payments%20ranged%20from%20%24450%20to,the%20ANCHOR%20benefit%20this%20season.

New Jersey Estate and Inheritance Taxes –

https://www.nolo.com/legal-encyclopedia/new-jersey-inheritance-tax.html#:~:text=Class%20A%20beneficiaries%20are%20exempt,parent%20or%20grandparent

Get in touch with Don and learn more: https://doncashpodcast.com/

Unrealized capital gains taxes have been a hot topic in recent financial news, stirring up a mix of curiosity and concern among investors. While the current proposal targets individuals with a net worth of over $100 million, there's a lingering concern about the potential for these thresholds to be lowered over time.

So what are “unrealized” capital gains and how might they impact you? In today’s episode, Don will answer that question and share his expertise on the myths, truths, and potential financial blind spots surrounding this issue.

Here’s some of what we discuss in this episode:

The proposed tax on “unrealized” capital gains + who it impacts
What exactly are “unrealized” capital gains?
The concerns of ordinary Americans who may not have the financial resources to pay the tax on unrealized gains
What does this mean for gifting to heirs?
Seeking professional advice and staying informed

Resources for this episode:

9-11 Survivor Story –

https://www.wsj.com/opinion/cantor-fitzgerald-bids-adieu-to-a-9-11-survivor-50de961e?st=ZMY7sY&reflink=desktopwebshare_permalink

Taxing Unrealized Capital Gains –

https://mises.org/mises-wire/madness-taxing-unrealized-capital-gains?gad_source=1&gclid=CjwKCAjw_4S3BhAAEiwA_64YhvwW8eXaO4wHC0gH0OXASQ_oSMgVNb2fScsWgx7BHVT2-zq9WSDOBhoC4kcQAvD_BwE

Analysis of Harris’s Billionaire Minimum Tax on Unrealized Capital Gains –

https://taxfoundation.org/blog/harris-unrealized-capital-gains-tax/

Get in touch with Don and learn more: https://doncashpodcast.com/

As summer winds down and fall approaches, it's a great time to reassess the financial landscape and prepare for the months ahead. In this episode, Don and Marc discuss the past few months' tumultuous events, the unpredictable nature of news, and its effects on the economy. Stay tuned as they highlight how market volatility and economic shifts have shaped the current outlook and what that means for the rest of the year.

Here’s some of what we discuss in this episode:

The significant political and economic events of the summer + market reactions
How diversification benefits investors in months of extreme volatility
Upcoming events that might rock the investment world
The historical performance of the markets during elections in 2012, 2016 and 2020

Get in touch with Don and learn more: https://doncashpodcast.com/

When it comes to investing, human biases often lead us astray. We have a natural tendency to react to recent news, a phenomenon known as recency bias. This can result in poor investment decisions, like selling stocks in a panic or buying into market hype. Listen in as Don and Marc talk about why it’s so important to recognize your biases, stick to your financial plan, and sometimes, do the opposite of what your instincts tell you (with the help of a financial advisor, of course).

Here’s some of what we discuss in this episode:

How human biases can impact investing decisions
Having a plan and sticking to it during periods of market volatility
The benefits of buying low and selling high during market drops
How FOMO (fear of missing out) can lead to poor financial choices
Not letting financial news dictate your decisions + focusing on consistent strategies

Resources for this episode:

George Costanza – Do The Opposite

https://youtu.be/CizwH_T7pjg?si=qEzNf3nJzj0CvK6R

Market Watch Article

https://www.marketwatch.com/story/the-stock-market-is-tanking-what-should-you-do-the-opposite-of-what-you-think-c2c92cd3

Cognitive Bias

https://www.sog.unc.edu/sites/www.sog.unc.edu/files/course_materials/Cognitive%20Biases%20Codex.pdf

Get in touch with Don and learn more: https://doncashpodcast.com/

Election years are always tumultuous, but the current political climate has reached new levels of unpredictability. As every election cycle seems to get more chaotic, how can you protect your portfolio? Tune in as Don explores how learning from historical events can help navigate these uncertain times.

Here’s some of what we discuss in this episode:

How the political and market climate of 1968 offers insights for today’s investors
Strategies to manage market volatility and avoid knee-jerk reactions during turbulent times
Why maintaining a diversified portfolio is crucial for long-term stability
Developing a plan that matches your goals, risk tolerance, and time horizon

Get in touch with Don and learn more: https://doncashpodcast.com/

This week’s episode serves as a warning to those neglecting their estate plans. Few stories illustrate the importance of updating beneficiary designations more poignantly than that of Jeffrey Rolison and Margaret “Peggy” Sjostedt, who dated in the 80s and broke up just a few years later. Despite their relationship ending, Jeffrey never updated the beneficiary designation on his Procter & Gamble retirement account, and Margaret stood to inherit $1 million.

Listen in as Don shares a few things that we can learn from this unfortunate oversight…

Here’s some of what we discuss in this episode:

The story of Jeffrey Rolison, who forgot to update his beneficiary designation
Jeffrey’s brothers nine-year legal battle to claim the retirement money
The importance of regularly reviewing and updating your beneficiary designations

Wall Street Journal Article

https://www.wsj.com/personal-finance/inherited-retirement-savings-beneficiary-breakup-divorce-849e3ff2

Get in touch with Don and learn more: https://doncashpodcast.com/

As we approach the 4th of July, it's a perfect time to reflect on the concept of independence- not just in terms of our nation, but also in our personal financial lives. In today’s episode, Don and Marc chat about some of the fascinating parallels between the celebration of Independence Day and the journey of retirement planning. Stay tuned as we talk about building a solid foundation for your financial future, celebrating milestones, looking forward to a secure and fulfilling retirement, and more!

Here’s some of what we discuss in this episode:

The importance of early and thorough retirement planning
Building a solid financial foundation through diligent saving, smart investing, and disciplined spending
Celebrating milestones in your retirement journey and learning to enjoy the fruits of your labor
Achieving financial independence and making empowered decisions on how to enjoy your retirement years
Overcoming challenges in retirement planning like market volatility, inflation, and unexpected health issues

Get in touch with Don and learn more: https://doncashpodcast.com/

With the rising costs of homeownership and the looming concerns of long-term care, it's no wonder that many parents consider transferring their homes to their kids. However, this seemingly generous act can come with significant financial pitfalls and tax consequences that you may not be aware of. Join us as Don shares some important items to consider and common mistakes to look out for…

Here’s some of what we discuss in this episode:

The annual gift exclusion limit for tax-free gifts in 2024
Gift exclusions for tuition and medical bills
Contributing to a tax-free Roth IRA for young family members as a gifting strategy
The capital gains tax implications when gifting a house versus inheriting it
A few state benefits that you could lose by gifting your home to your kids

Resources for this episode:

IRS Home sale exclusion –

https://www.irs.gov/taxtopics/tc701

IRS Gift Credit –

https://www.irs.gov/newsroom/estate-and-gift-tax-faqs

NJ Property Tax Freeze –

https://www.nj.gov/treasury/taxation/ptr/eligibility.shtml

NJ ANCHOR benefit –

https://www.nj.gov/treasury/taxation/anchor/index.shtml

Get in touch with Don and learn more: https://doncashpodcast.com/

In today’s episode, Don shares the astonishing story of attempted real estate fraud involving one of America's most iconic homes: Graceland. Did you know that the legendary estate of Elvis Presley was nearly auctioned off due to a scam? Listen in as Don takes us through the shocking details and the lessons we can learn to protect our own properties.

Here’s some of what we discuss in this episode:

The history of Graceland and its ownership since Elvis's passing
Details of the attempted fraud involving Graceland
Information about the fake company, Naussany Investments & Private Lending
Steps homeowners can take to protect themselves from similar fraudulent activities

Resources for this episode:

Wall Street Journal – Judge Blocks Efforts to Auction Graceland

https://www.wsj.com/real-estate/elvis-presley-graceland-riley-keough-judge-blocks-auction-fc424898?st=38uynto4rjjlffc&reflink=desktopwebshare_permalink

History of Graceland

https://en.wikipedia.org/wiki/Graceland

Judicial Foreclosure states

https://retipster.com/judicial-non-judicial-foreclosure-states-list-map/

Home Title Alert

https://www.propertyfraudalert.com/select

Paid Service

https://www.hometitlelock.com/?gad_source=1&gclid=CjwKCAjwgdayBhBQEiwAXhMxtnBjUN38QZs4FeIk24dUxd3dEt6Lg3YaQeJYcBpS0830_ZocjwTteRoC-XwQAvD_BwE

While you dream about the leisurely days ahead of you in retirement, it’s also important to think about some of the less glamorous items, including insurance. In this new season of life, your old policies may no longer suit your needs or may come to an end.

So, what types of coverage should you be considering for your golden years? What do you need to keep in mind as you prep for the transition? We’re going to walk you through the fundamentals in today's episode.

Here’s some of what we discuss in this episode:

Medicare supplement plans for those retiring before 65 + potential pitfalls of forgoing these plans
The high expenses of long-term care services + the factors that led to rising premiums
The advantages of older long-term care policies + options to modify coverage to reduce costs
Life insurance and long-term care combination policies
Reasons for long-term care insurance in retirement
The importance of property and casualty insurance + the benefits of umbrella policies

Open Enrollment Season episode

https://doncashpodcast.com/podcast/medicare-mistakes-to-avoid-during-open-enrollment-season/

Get in touch with Don and learn more: https://doncashpodcast.com/

As we approach the first week of May with tax season behind us, it’s the perfect time to look ahead. With the Tax Cuts and Jobs Act set to expire at the end of 2025, some big changes are in store for the next two years from a tax standpoint. In today’s episode, Don will dive into the changes you need to be aware of for 2024 and beyond.

Here’s some of what we discuss in this episode:

Changes in the capital gains rule for homeowners + potential planning mistakes with property ownership
The evolution of the taxation of Social Security benefits over the years
The importance of integrating Social Security decisions into an overall retirement plan
Keeping an eye on federal and state estate taxes + the importance of comprehensive estate planning

Get in touch with Don and learn more: https://doncashpodcast.com/

Did you know that roughly 50% of people over 50 lack essential legal documents, such as wills, power of attorney, and healthcare directives? The numbers are even more concerning for younger demographics, with 80% of those under 30 lacking any basic documents. With over $84 trillion in assets set to transfer to the next generation, ensuring your estate is in order has never been more important.

Here’s some of what we discuss in this episode:

The percentages of individuals across different age groups lacking essential estate planning documents
The importance of powers of attorney and healthcare directives once one turns 18
Outdated legal documents, misplacing wills, and updating your estate planning materials as life changes
Understanding IRA estate rules to avoid complications and tax liabilities
Carefully selecting executors and trustees + sharing passwords and communicating intentions with family members

Get in touch with Don and learn more: https://doncashpodcast.com/

Spring has sprung, pollen is in the air, and we are in the middle of college basketball March Madness! With tax season also approaching, Don and Marc are here to talk about Health Savings Accounts (HSAs) and the wealth of opportunities they can provide for savers and investors. Listen in as they share some benefits of contributing to an HSA, including significant tax deductions and tax-free withdrawals for qualified medical expenses.

Here’s some of what we discuss in this episode:

How HSAs work + a little history
The difference between the HSA-eligible health plan and the health savings account
The tax benefits an HSA offers + some potential downsides to consider
The nuances of HSAs for individuals over 65 + strategic approaches for managing HSA funds post-retirement
Considering HSA depletion rules + keeping proper records

Resources:

IRS Rules for HSAs – Publication 969

https://www.irs.gov/publications/p969

HSA benefits that may surprise you –

https://irahelp.com/slottreport/hsa-benefits-may-surprise-you/

5 HSA rules you need to know –

https://irahelp.com/slottreport/5-hsa-rules-you-need-know/

Get the most out of your HSA – Wall Street Journal –

https://www.wsj.com/buyside/personal-finance/what-is-an-hsa-dff3eb55?st=rxd75zyho7lfd45&reflink=desktopwebshare_permalink

Get in touch with Don and learn more: https://doncashpodcast.com/

In our last episode, we teased a discussion about long-term care insurance deductions and health savings accounts but ran out of time. Don't worry though, because today we're diving deep into these important topics.

Here’s some of what we discuss in this episode:

Don’s recent conference in Arizona + self-driving cars
The high cost of assisted living and long-term care + considerations for itemizing deductions on tax returns
Some missed opportunities that Don often sees when it comes to medical expenses
How deductions work for life care retirement communities
Alternate ways to deduct medical expenses for self-employed individuals using Schedule 1 on the 1040 form

Resources for this episode:

Tax forms –1040 form

https://www.irs.gov/pub/irs-pdf/f1040.pdf

Schedule 1 – Income & Adjustments

https://www.irs.gov/pub/irs-pdf/f1040s1.pdf

Schedule A –

https://www.irs.gov/pub/irs-pdf/f1040sa.pdf

Standard Deductions and Tax Brackets – 2023

https://www.irs.gov/newsroom/irs-provides-tax-inflation-adjustments-for-tax-year-2023

Long-Term Care Insurance Tax Deductions –

https://apps.irs.gov/app/vita/content/00/00_25_005.jsp

Waymo Driverless Cars –

https://waymo.com/

Get in touch with Don and learn more: https://doncashpodcast.com/

Punxsutawney Phil did not see his shadow, the Kansas City Chiefs won the Super Bowl, and Valentine’s Day is here. It’s a busy time of year, and while “Be my little tax deduction” isn’t the most romantic thing to say to your spouse this holiday, we’re going to discuss a tax deduction you can make for your Valentine before April 15th in today’s show.

Here’s some of what we discuss in this episode:

The randomness and unpredictability of Groundhog’s Day, the Super Bowl, and the stock market
What is a spousal IRA contribution and how does it differ from a normal IRA contribution?
How can spousal IRA contributions benefit retirees and pre-retirees in terms of tax deductions and retirement savings?
The implications of IRA contributions for individuals over age 73 + alternative retirement savings options for self-employed individuals

Resources for this episode:

Wall Street Journal Article – Spousal IRAs

https://www.wsj.com/personal-finance/retirement/theres-still-a-way-to-double-your-retirement-tax-breaks-before-filing-0f689dc1?st=cssro7zcnwkzp8r&reflink=desktopwebshare_permalink

Income limits for IRA deductions

https://www.irs.gov/retirement-plans/2023-ira-deduction-limits-effect-of-modified-agi-on-deduction-if-you-are-covered-by-a-retirement-plan-at-work

Get in touch with Don and learn more: https://doncashpodcast.com/

In celebration of the holiday this week, we thought we’d have a little fun and see what the movie “Groundhog Day,” starring Bill Murray and Andy MacDowell, can teach us about successful retirement planning. Just like Bill Murray’s character, Phil, is forced to relive the same day over and over and learn from his mistakes, retirement planning is an ongoing journey that calls for adaptability, continuous learning, and a commitment to positive change.

Here’s some of what we discuss in this episode:

The cyclical process of retirement planning + the role of annual rituals and reviews throughout the process
Getting burned by trying to predict the future when it comes to financial investments + the importance of financial preparedness
Learning from past financial mistakes and not repeating them
Adapting to changes in income, expenses, investment performance, health, and more
How small changes in financial planning can lead to big results

Get in touch with Don and learn more: https://doncashpodcast.com/

It’s that time again when the world attempts to foresee the twists and turns the coming months might bring. As the air buzzes with predictions and forecasts, it's worth stepping back and glancing at the rearview mirror of history. In it, you’ll see that predicting the future isn’t as easy as it seems.

Here’s some of what we discuss in this episode:

Despite positive economic indicators and predictions, the stock market and investors suffered in 2022
Despite concerns such as a softening job market, high office vacancies, and geopolitical tensions in the Middle East, the end of 2023 saw a surprising global market rally
The unpredictability of the future and the impact of past events in shaping the future
The overwhelming nature of the news + having a financial plan, purpose, and philosophy for your money
Don’s formula for clarity and confidence in financial planning: C > I + E + P x M (Cognitive Thinking greater than Instinct + Emotion + Perception multiplied by Media)

Episode Resources

Bad News For the Economy is Good News for the Stock Market

https://www.cnbc.com/2023/11/03/bad-news-for-the-economy-is-good-news-for-the-stock-market-as-long-as-it-doesnt-get-too-bad.html%20

The Future is Bright If You Know Where To Look

https://www.wsj.com/tech/ai/the-future-is-bright-if-you-know-where-to-look-98874b3d?st=qz6edtiza4mgqna&reflink=desktopwebshare_permalink%20The%20Future%20Is%20Unpredictable%20Even%20When%20It%E2%80%99s%20Certain%20

The Future Is Unpredictable Even When It's Certain

https://www.wsj.com/articles/the-future-is-unpredictable-even-when-its-certain-2024-political-cycle-71996049?st=nqlq0lflg6nwlg5&reflink=desktopwebshare_permalink

Get in touch with Don and learn more: https://doncashpodcast.com/

The new year is upon us, so we thought we’d take this time to reflect on the past year and chat about starting the new year on the right footing. Join Don and Marc as they discuss a wide array of topics, ranging from health concerns to retirement, relationships, and unexpected global events that took place in 2023.

Here’s some of what we discuss in this episode:

Some interesting facts on New Year's resolutions in America
Mental health, social media addictions, and fitness tracking
Health, relationships, and recreational goals for people over 50
Setting S-M-A-R-T goals in the new year and learning from last year’s investing lessons
The unpredictability of the stock market and the danger of making predictions based on the news

Get in touch with Don and learn more: https://doncashpodcast.com/

As we gather around festive tables and share the joy of the season with our loved ones, the holidays provide the perfect backdrop for meaningful conversations. In today’s episode we’re going to explore the three important money conversations that you should consider having during the holidays.

Here’s some of what we discuss in this episode:

Parents: Breaking the “no talk rule” about money with your parents, keeping legal documents updated, checking for signs of cognitive decline + ensuring appropriate living arrangements are being made
Kids: Providing them with basic knowledge about tax issues, assets, key financial contacts + encouraging responsible financial habits
Young Adults: Establishing car and health insurance, contributing to retirement accounts, building an emergency fund + filling out important legal documents
Your Partner: Conversations about finances, spending, and saving money + focusing on shared goals for the future, such as living arrangements and lifestyle preferences

Get in touch with Don and learn more: https://doncashpodcast.com/

We’re back to wrap up this two-part episode on year-end planning for 2023. As 2024 approaches, it is the perfect time of year for these conversations. If you missed part one, you can catch up on the conversation here!

In this episode, we’ll chat about several topics including the looming expiration of the current tax code in 2026, the increasing national debt, and the potential rise in tax rates. Don will also share how those in need of long-term care can leverage their IRA assets to minimize taxes, talk about the often-overlooked 0% capital gains tax bracket, discuss the importance of proactive tax planning, and more.

Here’s some of what we discuss in this episode:

How might changes in the tax code impact financial planning, considering the current national debt?
Some ways that long-term care expenses can be leveraged for significant tax deductions
How does the 0% capital gains tax bracket work?
What is the gifting limit, and how can it be strategically utilized for educational or medical expenses?

Get in touch with Don and learn more: https://doncashpodcast.com/

Join us for a two-part episode where we unpack our 2023 edition of key year-end planning strategies for those nearing or embracing their retirement years. With the holidays right around the corner, it is the perfect time of year for these conversations. Listen in as we cover a range of topics, from IRA and 401k contribution limits to Roth IRA conversions and charitable giving options.

Here’s some of what we discuss in this episode:

Medicare open enrollment, Social Security COLA changes for 2024 + and the new Medicare Part B premium
Changes to the Required Minimum Distribution (RMD) age
Making qualified charitable distributions (QCDs) from IRAs and their benefits in reducing taxable income
What are the contribution limits for retirement accounts like 401(k)s and IRAs?
Initiating financial decisions early to avoid potential year-end complications

Wall Street Journal Article:

https://www.wsj.com/lifestyle/travel/airline-customer-service-scam-twitter-x-e1879760?mod=Searchresults_pos1&page=1

Get in touch with Don and learn more: https://doncashpodcast.com/

It’s Medicare open enrollment season, so in today’s episode, we’re going to dive into some of its complexities and share the common mistakes you want to avoid during this critical period. Listen in as Don and Marc discuss the differences between traditional Medicare, Medicare Supplements and Medicare Advantage plans, and stress the importance of understanding Medicare drug plans.

Here’s some of what we discuss in this episode:

The key differences between traditional Medicare, Medicare Supplements and Medicare Advantage plans
What is Medicare Open Enrollment and when does it occur?
What are the potential downsides of Medicare Advantage plans?
The importance of reviewing annual letters of notification from your Part D drug plan.

Wall Street Journal Article:

https://www.wsj.com/health/healthcare/medicare-advantage-enrollment-risks-923e7952

Previouis Medicare Episodes:

https://yourmoneyyourlife.podbean.com/e/abc-s-of-medicare/

https://yourmoneyyourlife.podbean.com/e/ep-61-abc-s-of-medicare/

Get in touch with Don and learn more: https://doncashpodcast.com/

In a world where technology is integral to our daily lives, identity theft remains a significant concern. While we may be aware of the risks, it's easy to let our guard down, often not realizing the gravity until we become victims ourselves. Join Don and Marc as they delve into the world of identity theft, shedding light on the risks and often-overlooked vulnerabilities that put us at risk.

Here’s some of what we discuss in this episode:

What is a data breach and how is it different than identity theft?
What are common scams and red flags to watch out for in identity theft?
The role strong passwords play in protecting your personal information
What is home title theft, and how can it be prevented?
Some services that can provide extra protection against identity theft

Additional Resources:

What is Identity Theft

https://www.usa.gov/identity-theft

Common Types of ID Theft

https://www.experian.com/blogs/ask-experian/20-types-of-identity-theft-and-fraud/

Grandma I’m in Jail Fake Phone Calls –

https://www.nbcsandiego.com/nbc-7-responds-2/grandma-im-in-jail-scammers-targeting-elderly-san-diegans/3229084/#:~:text=It%20comes%20in%20as%20an,someone%20claiming%20to%20be%20family.&text=The%20scammers'%20game%20is%20to,hospitalized%2C%20arrested%20or%20even%20kidnapped.

Fake Microsoft Pop up virus alert –

https://www.pcrisk.com/removal-guides/12308-virus-alert-from-microsoft-scam

Home Title Theft –

https://www.forbes.com/advisor/mortgages/real-estate/home-title-theft/

Get in touch with Don and learn more: https://doncashpodcast.com/

As we move towards the end of the year, we’re looking over checklists for items that need some attention, and while it’s not specific year-end planning, now is a great time to address your estate plan.

The fact is only 33% of Americans have an estate plan and only 43% have a will. Those numbers might be shocking, but the reality is many people just aren’t giving this critical piece of planning enough attention. So as you get things in order for the end of the year, let’s spend some time talking about why you need an estate plan.

Here’s some of what we discuss in this episode:

What does a financial will do as opposed to a power of attorney and living will.
The role the power of attorney plays and why it’s arguably the most important document when you are living.
The five different types of power of attorneys and what they cover.
What happens if you get sick or disabled without a power of attorney?
The purpose of the living will and the purpose of the last will and testament.

Links for this episode: Probate -

https://trustandwill.com/learn/types-of-non-probate-assets

Last Will and Testament –

https://www.investopedia.com/terms/l/last-will-and-testament.asp

Living Will and Power of Attorney

https://www.mchughandmacri.com/blog/2017/02/the-difference-between-a-living-will-and-power-of-attorney/

Percentage of Americans without Estate Plan

https://www.aarp.org/money/investing/info-2017/half-of-adults-do-not-have-wills.html

https://www.cnbc.com/2022/04/11/67percent-of-americans-have-no-estate-plan-heres-how-to-get-started-on-one.html

Spouse disinherited by accident

https://nypost.com/2005/01/31/pension-pickle-broke-widower-loses-1m-to-in-law/

Wall Street Journal Article – Estate Planning -

https://www.wsj.com/personal-finance/estate-planning-will-money-family-heirs-8f2eb6e8?st=tyfkq2ei0nprc1z&reflink=desktopwebshare_permalink

Get in touch with Don and learn more: https://doncashpodcast.com/

We are all familiar with the term life span and the concern inflation and social security changes may impact living a long life. Today, we are going to talk about “health span” and what we need to think about as we live longer, and hopefully healthier, in retirement.

Here’s some of what we discuss in this episode:

The average lifespan is about 79 for women and 73 for men, which dropped for the first time in 25 years.
What are the leading causes of death today compared to the year 1900.
How your health span factors into planning and determining how much money you need.
What we encourage our clients to do in order to maintain that health span.

Get in touch with Don and learn more: https://doncashpodcast.com/

In this episode, we’re taking a look at the new Social Security cost of living changes for 2024. Join Don and Marc as they decode the Consumer Price Index (CPI) and its impact on Social Security and retirement planning. They uncover the intricate world of CPI categories, from CPI-U to CPI-W, and how they determine Social Security cost of living adjustments.

Here are some questions we answer in this episode:

What is the COLA in relation to Social Security benefits?
How is the COLA calculated and what index is used?
Why does the reported CPI increase sometimes feel inaccurate?
What is the impact of different CPI indices on Social Security benefits?

Resources for this episode:

https://en.wikipedia.org/wiki/Consumer_price_index

https://www.bls.gov/cpi/factsheets/common-misconceptions-about-cpi.htm

https://www.ssa.gov/oact/cola/latestCOLA.html

https://www.bls.gov/opub/hom/cpi/presentation.htm

https://www.ssa.gov/oact/cola/colaseries.html

https://www.bls.gov/news.release/cpi.t05.htm

https://www.investopedia.com/terms/c/chain-linked-cpi.asp#:~:text=Chain%2DWeighted%20CPI%20Example&text=Smith%20buys%20two%20pounds%20of,has%20risen%20to%20%246%20%2F%20lb.

https://www.ssa.gov/policy/docs/policybriefs/pb2008-03.html

Get in touch with Don and learn more: https://doncashpodcast.com/

On August 1, the Fitch Ratings agency downgraded the US debt from its top rating of AAA down a notch to AA+. This is the second time this has happened. Ironically, that was also in August but twelve years again 2011. At that time, the Standard and Poor’s downgraded US treasury debt from AAA to AA+.

So why is this happening now and what does it mean to us as we save for and in retirement?

Here’s some of what we discuss in this episode:

Don will provide some background and a big picture view on what’s happening with these ratings.
Why does this downgrade seem like it’s getting less of a reaction?
Could we continue to slip even further with more downgrades in the future?
The stock market’s response over the next decade was still very positive after the last downgrade.
As an investor, what are the different lessons we can take from last time?
What does the downgrade of 10 banks mean for me?
Where do we go from here and what will Don be watching in the future?

Get in touch with Don and learn more: https://doncashpodcast.com/

Welcome to our 100th episode of Your Money & Your Life! Today we’re taking a nostalgic look back at the past five years, from personal milestones to macro-economic events, such as the fluctuating real estate market and interest rates. We even rewind to some previous episodes, examining how our predictions on technology's role in investment strategies held up, and discussing the unforeseen impact of COVID-19 on our lives and finances.

Here’s some of what we discuss in this episode:

Don and Marc reflect on the past five years + podcast episodes from the beginning of the show. (0:43)
The podcast during COVID-19 + Don’s role as an advisor during that time. (8:26)
The impact of inflation in 2023. (14:54)
The slight easing of inflation + The Debt-To-GDP ratio. (18:43)
The importance of following time-tested planning principles and not making emotional financial decisions. (23:26)

Get in touch with Don and learn more: https://doncashpodcast.com/

We’re diving into the listener mailbag for today’s episode! We’ve received some excellent listener questions recently, and we’re going to dive into a few of them on today’s show. Doug asks where he should invest the money from his new raise. Sherry asks if she should lease or sell the family farmland that she inherited from her uncle. Tune in and see what you can learn from these listener questions!

Here’s some of what we discuss in this episode:

Mailbag: I just got a raise, but now I make too much money to put into my Roth. Where should I invest my money now? (3:20)
Mailbag: My daughter is getting married this year and I don’t want to pay a lot of taxes by withdrawing money from our retirement accounts to pay for the wedding. Any advice? (9:34)
Mailbag: I inherited 100 acres of land from my uncle. I’m sentimentally attached, but should I just sell it? (16:28)

Get in touch with Don and learn more: https://doncashpodcast.com/

Many retirees bounce around the idea of moving states in retirement with the goal of saving money on taxes and expenses. It makes sense on the surface but will it benefit you as much as you hoped?

Today we’ll dive into the numbers, talk through some of the costs that blindside people, and help you better understand what needs to be evaluated before you make the move.

Here’s some of what we discuss in this episode:

The migration trend and what’s behind the move to different states. (2:20)
Here are some of the advantages. (5:31)
What you should consider if you’re approaching retirement and considering a move. (6:59)
Costs that often blindside people. (13:15)
A few more factors to pay attention to. (17:40)
The 3 big taxes you need to assess before moving. (20:40)

Get in touch with Don and learn more: https://doncashpodcast.com/

Join Don and Marc as they dive into the fascinating world of artificial intelligence. Discover the potential risks, benefits, and the ever-expanding reach of AI across various industries. From AI-generated music and artwork to robo-advisors and facial recognition, AI is revolutionizing the way we interact with technology. In this episode, we’ll explore the origins of AI, the blurred lines between reality and AI, and ultimately answer the question: should you be worried?

Here’s some of what we discuss in this episode:

The idea of AI has been around for a long time, and this technology will only become more common. (3:36)
The “technology turn” during COVID + Chat GPT. (10:41)
AI should be used as a tool and not to replace people. (14:33)
How video and voice technology is rapidly advancing. (18:38)
What can we do to protect ourselves? (21:02)
Being smart with your investing strategy. (24:11)

Get in touch with Don and learn more: https://doncashpodcast.com/

We’re back to discuss the ongoing battle over the debt ceiling in this episode. We’ll review recent federal budgets and expenses and compare these numbers to recent history. We’ll also dive into the impact of the COVID-19 relief spending, address some concerns about inflation, and share our thoughts about this situation as a whole.

Here’s some of what we discuss in this episode:

What’s the recent debt ceiling update? (3:26)
What’s driving the debates around this topic and what may occur in the next week. (5:35)
U.S. spending since the pandemic. (7:28)
Getting this spending back into check. (9:54)
What is the "Fear Index" and how does it relate to all of this? (13:55)
How people are spending money outside of Washington. (17:57)

Get in touch with Don and learn more: https://doncashpodcast.com/

In today’s episode, we’re going to dive into the pressing issues of the U.S. debt ceiling and Federal Reserve rate hikes. We’ll begin by unraveling the concept of the federal debt ceiling, examining its history, and shedding light on the federal government's current and prospective spending plans. Ultimately, we’ll discuss what all the recent buzz on this topic might mean for investors and whether there is cause for alarm.

Here’s some of what we discuss in this episode:

Should we be concerned about the debt ceiling conversations in America? (2:21)
What exactly is the debt ceiling? (4:36)
What happens if the debt ceiling isn’t raised? (7:42)
Looking back at recent interest rate raises in comparison to today. (14:57)
So, what should investors do? (18:00)
What is the issue with higher bank rates? (20:50)
History repeats itself and diversification is important. (22:05)

Get in touch with Don and learn more: https://doncashpodcast.com/

Many of us have heard of typical investment risks, such as market risks, liquidity risks, credit risks, and concentration risks. But what is reinvestment risk? In today’s episode, we’ll explain what reinvestment risk is and how the fear of recent events might be driving this risk.

Here’s some of what we discuss in this episode:

Don discusses the fees for credit transactions that are becoming more frequent. (2:56)
What is reinvestment risk? (5:27)
The two classes of CD and bond buyers right now. (13:26)
How bonds should act as a stabilizer in a portfolio. (15:01)
How rebalancing, patience, discipline and understanding play a huge part in a sound investment strategy. (18:53)

Get in touch with Don and learn more: https://doncashpodcast.com/

What many people are starting to realize is that taxes in retirement might actually be more than they were when they were working. We’ve been taught our entire lives to defer taxes by contributing to an IRA and 401(k), but that ends up leaving retirees with more to pay down the road.

What’s important to know is that the taxman will cometh at some point, and it could be for more than you are paying today. Today we'll share some tax planning strategies that you should consider and point out a couple key areas in retirement where planning will be critical.

Here’s some of what we discuss in this episode:

As we finish our taxes for 2022, what should people be looking at for 2023. (2:34)
Where are the blinds spots for people in terms of taxes? (4:30)
How will the government pay off the rising debt we’re facing. (8:05)
One of the biggest strategies right now is utilizing a Roth. (12:20)
An example of how longterm care and medical bills play into tax planning. (14:28)
Why understanding the seven tax brackets are important. (20:01)

Get in touch with Don and learn more: https://doncashpodcast.com/

The biggest news in the financial world this month has been the failure of major banks like Silicon Valley Bank and Signature Bank. There didn’t seem to be any concerns about their stability even a few weeks ago, but things fell apart quickly.

So the obvious question is what happened and how will this impact me? In this episode, Don will provide a breakdown of what went wrong with SVB and how this might impact other banks across the country. Plus, we’ll touch on how this all relates to investing and retirement planning.

Here’s some of what we discuss in this episode:

A high-level look at banking and investing. (4:14)
What does the FDIC protect? (6:00)
What exactly happened with SVB? (10:34)
Should we worry that other banks have done something similar? (16:37)
How does this all tie back into retirement planning? (17:51)

Get in touch with Don and learn more: https://doncashpodcast.com/

This episode will help explain what ESG investing is and how it impacts your retirement planning. Plus, are these investments actually helping the environment and why is the government getting involved? Don Cash will sort out a lot of the facts on this topic so you’ll be more informed.

Here’s some of what we discuss in this episode:

What is ESG investing and why we’re talking about this today? (3:00)
Some background on how this began and where the money is being made. (5:33)
The fees can be significantly different for these investments. (8:22)
What classifies a company as an ESG company? (11:10)
What is the government’s role in all of this? (13:48)

Get in touch with Don and learn more: https://doncashpodcast.com/

What we want to do in this episode is make sense of what exactly is happening with Social Security and which concerns are legit and which ones might be overblown. This isn’t the first time Social Security has had to make adjustments since it was originally introduced in 1935, and we’ll take you through what has changed over the past nearly 90 years.

Here’s some of what we discuss in this episode:

Historical background on where we got to where we are today with Social Security. (4:11)
Here are the facts around Social Security right now. (7:57)
Why do we keep hearing about bankruptcy and whether the benefits will be gone soon? (10:11)
This isn’t the first time changes have been made to Social Security. (12:31)
What changes could be considered in the near future? (16:49)
Do you ever make too much money to qualify for Social Security? (23:12)

Get in touch with Don and learn more: https://doncashpodcast.com/

Tax season is officially here for 2023 and while many of us will slowly ease into it, now is the time to start thinking about what you need to accomplish over the next few months.

In this episode, Don is going to help you prepare for tax season by explaining the key documents that you’ll want to be on the lookout for, highlighting the financial planning conversations you need to be having with your advisor, and sharing a few tips for finding the right CPA.

Here’s some of what we discuss in this episode:

A new tax deadline for 2023. (4:11)
The most common forms you’ll need to be on the lookout for. (7:37)
The top financial planning action points to be considering. (12:04)
What type of CPA would be the best fit for you? (17:28)
Be mindful of these two things when preparing taxes with a CPA. (20:17)
The most common missed tax planning opportunities. (23:13)

Additional resources to help you with tax season:

Groundhog Day - https://www.cnn.com/2023/02/02/us/groundhog-day-punxsutawney-phil-2023-trnd/index.html

Tax forms for 2022 filing - https://www.fool.com/taxes/the-13-most-common-tax-forms/

Tax Forms for retirees - https://advancedretirementstrategies.com/retiree-tax-document-checklist-what-documents-do-i-need-to-file-taxes/

Key Filing dates for 2022 Tax season - https://www.usatoday.com/story/money/taxes/2023/01/09/irs-taxes-file-efile-2023/11018054002/

IRA contribution rules - https://www.kiplinger.com/retirement/retirement-plans/traditional-ira/603958/traditional-ira-contribution-limits-for-2022

Get in touch with Don and learn more: https://doncashpodcast.com/

Another round of retirement changes are on the way after President Biden passed SECURE Act 2.0 into law on December 23rd. While we’ve been anticipating this legislation for a while, we didn’t know exactly what we be in the final bill.

Retirees and pre-retirees need to spend some time with their advisor to discuss what this legislation means, how it might impact you, and what planning opportunities this could open up.

Here’s some of what we discuss in this episode:

The required minimum distribution age moved back again. (4:11)
The complications with taxes surrounding Inherited IRAs still remain. (11:41)
Significant changes to workplace plans (17:10)
An update on the New Jersey ANCHOR program (21:45)
Don’s overall opinion on SECURE Act 2.0. (27:57)

Get in touch with Don and learn more: https://doncashpodcast.com/

Market volatility became the norm in 2022. In this episode, we will be discussing the ups and downs of the last year, from volatility to celebrity news.

Here's some of what we discuss in this episode:

Current inflation and the outlook for next year. (5:19)
Examples of volatility throughout this last year. (14:47)
Big events/drama that happened in 2022. (20:34)

Get additional financial information: https://doncashpodcast.com/episodes/

We hope you enjoyed your Thanksgiving and are looking forward to the upcoming holidays. With 2023 around the corner, we thought it would be helpful to discuss upcoming changes as the Feds prepare to meet again.

Here's some of what we discuss in this episode:

How economic news affects the stock market. (3:44)
We discuss the first required IRA distribution age changes. (6:20)
What to consider if you’re in a higher tax bracket or don’t plan on leaving wealth to family. (10:31)

Get additional financial information: https://doncashpodcast.com/episodes/

As we move at breakneck speed toward the end of the year and into 2023, we want to talk about finishing strong as well as touch on the difference between knowledge and wisdom, the FTX bankruptcy scandal, and how good thinking affects our planning decisions.

Listen for these key points:

Have you heard about the FTX scandal? Here are the details. (5:50)
How people fell for FTX and why you must be careful not to confuse knowledge and wisdom. (12:12)
Sometimes wanting to believe in something you shouldn’t, can get you into trouble. (14:56)

Get additional financial information: https://doncashpodcast.com/episodes/

While we can’t predict the future, we can look at the past and see patterns in the market and make estimations about the foreseeable future.

In this episode, we discuss all of the hot topics related to the ways the market has changed over 2022 and address some speculations for 2023.

2022 came with a very volatile market; interest rates and inflation have soared, and it’s left many anxiously attempting to time the market. Let’s takes look a look at history and some facts that might bring some clarity for the future.

Here’s some of what you’ll learn in this episode:

Here we discuss how the market changes during elections. (7:15)
How current issues and market changes reflect history. (12:52)
Some big changes you should expect in the future. (20:00)

Additional resources:

https://www.prnewswire.com/news-releases/despite-recent-sp-losses-of-nearly-25-federal-government-still-requires-retirement-withdraws--nationally-recognized-ira-expert-donald-w-cash-interviewed-by-the-wall-street-journal-301670524.html

It’s time for our 2nd annual Medicare episode! Navigating Medicare on your own can be confusing, even stressful. Some people have been tricked into switching Medicare plans when they don’t want to!

In this episode, we will go over the ABC’s of Medicare. You’ll want to learn how to find the right agents, how your income could affect what you pay, and so much more. We have Ray Martin, a Nationally recognized Medicare expert and the Owner of Martin Associates Insurance Services as a guest to break down each step.

Here’s some of what you’ll learn in this episode:

The government announced the inflation increase in Social Security accounts, and it’s the largest number in 40 years. (1:41)
How Health Savings Accounts work with Medicare. (12:15)
What you need to know about the Income-Related Monthly Adjustment. (22:01)

Additional resources:

Medicare Resources:

http://martinassociatesmedicare.com/book/

https://www.kiplinger.com/retirement/medicare-costs-to-go-down-in-2023

https://www.kiplinger.com/retirement/medicare/medicare-open-enrollment-starts-now-what-you-need-to-know

https://faq.ssa.gov/en-us/Topic/article/KA-01951

Weather enthusiasts and retirement planning worlds collide… Each Fall we spend a lot of time watching and listening to the news and the Weather Channel getting reports of developing hurricanes and are treated to lots of updated graphics to bring us a refresher on how hurricanes work. So, let’s take the opportunity to see what we can learn about retirement planning from a discussion about hurricanes.

In this episode, we will talk about the volatility of the market. Are market dips something you should be wary of? What global events cause market changes? Let’s dive into some of the things that often make us lose focus as we invest for retirement.

Here’s some of what you’ll learn on this episode:

Why you need to accept that the value of the stock market will drop at some point. (6:11)
You must be careful not to be influenced by the wrong people. (10:44)
Here are some things you should look out for over the next few months. (16:26)

Additional resources:

The “You Earned It, You Keep It Act” -

https://www.govtrack.us/congress/bills/117/hr8717

Workers leaving the workforce:

https://www.nytimes.com/2022/05/19/business/economy/older-workers-labor-force.html

IRS Loses records –

https://www.crapo.senate.gov/news/in-the-news/weekly-column-why-did-the-irs-destroy-30-million-paper-returns

Emergent Intelligence –

https://unanimous.ai/emergent-intelligence-from-a-jar-of-beans/

Sir Issac Newton Stock Loss –

https://physicstoday.scitation.org/doi/10.1063/PT.3.4521#:~:text=However%2C%20he%20did%20lose%20a,a%20good%20bit%20more%20besides.

In a normal year, just one of these topics would be significant news for us to discuss, but 2022 is filled with headlines that impact retirement planning. On this episode, we’re going to provide an update on inflation and the indicators to be watching, share stats on the early retirement trend, and give you the truth on the latest proposed legislation that impacts Social Security.

Here’s some of what you’ll learn on this episode:

What’s the latest on inflation? (3:31)
Stats on the early retirement trends we’re seeing. (8:07)
What other effects have we seen due to COVID? (9:16)
The considerations you need to weigh for early retirement. (13:02)
The details on the ‘You Earned It, You Keep It Act’ and taxes. (15:46)
What’s the catch to this new Social Security legislation? (18:55)
Phil’s big takeaway from this bill as it relates to retirement. (20:31)

Additional resources:

The “You Earned It, You Keep It Act” -

https://www.govtrack.us/congress/bills/117/hr8717

Workers leaving the workforce:

https://www.nytimes.com/2022/05/19/business/economy/older-workers-labor-force.html

Washington recently passed the Inflation Reduction Act, which on the surface appears to be aimed at solving the inflation problem. But there’s much more inside the bill, including a few different items that directly impacts financial planning. We’ll break down this new legislation on the podcast and highlight other laws that might be on the way.

Here’s some of what you’ll learn on this episode:

Don’s initial thoughts on the Inflation Reduction Act and how it impacts individuals. (5:10)
Why the SALT cap was being discussed a lot in New Jersey. (7:37)
What we need to know about the SECURE Act part 2. (10:21)
Required Minimum Distribution age pushing back even more? (15:37)
How to calculate RMDs from inherited IRAs and personal accounts. (19:16)

Inflation Reduction Act resources –

https://www.ncoa.org/article/what-the-inflation-reduction-act-means-to-older-adults

https://www.morningstar.com/articles/1109390/the-inflation-reduction-acts-impact-on-retirees

NJ Property Tax Freeze – https://www.state.nj.us/treasury/taxation/ptr/

For more, visit us online: http://doncashpodcast.com

For economic geeks like ourselves and those old enough to remember, this week will be seen as the anniversary of one of the greatest bull markets in history. It was on August 12, 1982, that the Dow Jones Industrial Average dropped to its low of 777 (lucky number) —almost precisely where the Index had closed in January 1964, more than 18 years earlier!

Here’s some of what you’ll learn on this episode:

Human nature doesn’t change and we’re still prone to the same financial mistakes today that we were back then. (5:10)
The issues the dealt with through the 60s and 70s seem remarkably similar to what we’re experiencing now. Guess what coming out of those tumultuous years? (7:49)
Why proper diversification could have produced really good returns during The Lost Decade to start this century. (11:25)
The major mistakes that we make when we’re near or in retirement. (16:40)

Visit us online: http://doncashpodcast.com

There’s a heat wave spreading across the world right now, along with a lot of economic stress. On today’s episode, we’ll explore some expert opinions on our current bear market. Does Don agree or disagree with them?

Listen for these key points:

0:29 – Did you have a good summer trip?

1:25 – Don’s daughter is getting married!

2:42 – What we’re going to analyze today

4:53 – Demand for services are still good

6:50 – Value stocks over growth stocks

11:18 – We can’t time the market

14:53 – Be aware of emotional decisions

17:20 – Mailbag – Do I really need an advisor?

Get additional financial information: https://doncashpodcast.com/episodes/

Are we losing our financial independence to inflation, a possible recession, and longevity? On today’s episode, we’ll explore the various risks that can complicate your plan and your finances.

Listen for these key points:

0:28 – Happy 4th of July!

3:20 – Fear of running out of money

6:06 – Life expectancy

7:48 – Pushing your plan to 90+

8:35 – Dying too young, living too long

9:32 – Costs for long term care

10:30 – So, what do we do?

12:38 – Long-term care coverage

13:34 – What about savings?

15:31 – The Investment Answer

16:18 – Reach out to a professional

18:32 – Watch out for confirmation bias

Get additional financial information: https://doncashpodcast.com/episodes/

With summer comes rising temperatures and this year, rising inflation! On today’s episode we’re going to discuss the importance of education, managing expectations, and understanding when it comes to navigating a volatile market.

Listen for these key points:

0:40 – Are you ready for summer?

2:53 – Is this permanent?

4:56 – Raise rates fast or slow?

6:35 – Fewer people working

8:00 – What are we going to do?

10:59 – Education, expectation, understanding

13:52 – Preparing for unexpected

15:50 – Buying before a crash

16:34 – Looking at the big picture

19:21 – What do we do to protect our wallets?

21:08 – Don’t inflate your expenses 8%

22:39 – Expenses aren’t linear

Get additional financial information: https://doncashpodcast.com/episodes/

Last week we spoke on the cycle of investor anxiety. How can we break this cycle and enjoy a fruitful financial future without the stress?

Listen for these key points:

0:35 – This past Memorial Day

4:40 – Phase 1

7:02 – Phase 2

8:56 – Phase 3

13:19 – Phase 4 & 5

15:52 – How do we break the cycle?

18:12 – Change your news up!

18:45 – Maximize returns, minimize risk

20:50 – Let others be emotional

21:55 – Hire a holistic planner

Get additional financial information: https://doncashpodcast.com/episodes/

How do we overcome the cycle of anxiety we face as investors? On today’s episode, Don breaks down the 5 stages of investor anxiety and how we can overcome these obstacles in today’s world.

Listen for these key points:

0:55 – It’s hot here!

3:36 – Phases of anxiety

4:49 – A broken process

5:45 – Fear of the future

6:38 – Addicted to technology

10:06 – You can’t predict the future

11:15 – Track record investing

13:22 – Information overload

14:51 – Emotional decisions

18:34 – Breaking the rules

19:36 – How to overcome this cycle

Get additional financial information: https://doncashpodcast.com/episodes/

It seems like all the talk lately as been inflation, interest rates and investment volatility. Every time you look at the news you see rising inflation numbers, gas prices seem to have actually gone up again and the stock market has been crazy volatile. Add in another interest rate increase by the Federal Reserve and the list of issues gets longer and longer. We didn't have enough time to dig deep into all of these things so, let’s see if we can make some sense of what’s going on and what we can do about it.

Listen to part 1: https://doncashpodcast.com/podcast/inflation-interest-rates-and-bond-prices-oh-my/

Listen for these key points:

0:53 – Allergies and COVID

2:29 – Used car prices

3:51 – Setting up part 2 of the conversation

5:32 – Last time rates were at 5%

6:19 – Interest rates

7:21 – World events impacting inflation

8:31 – Imbalances

11:51 – Wages and workers

14:11 – Other price increase examples

15:16 – Hidden tax

17:21 – What can individuals do today?

20:37 – Investment strategies

23:09 – Closing thoughts

Get additional financial information: https://doncashpodcast.com/episodes/

Interest rates are going up, inflation is impacting our wallets, and bond prices are down. On today’s episode, we break down these issues and how they could impact you.

What we discuss:

0:53 – Changing mask rules

2:16 – Will travel start up again?

3:16 – Air travel and fuel are up

5:09 – Why are rates jumping up?

7:16 – Prices of homes have gone up

9:55 – Impact on stocks and bonds

11:07 – Bonds are stable, but can go down

13:00 – Reinvesting at a higher rate

14:45 – What is causing this?

16:11 – What is an advisor’s job?

17:29 – As you get closer to retirement

Get additional financial information: https://doncashpodcast.com/episodes/

What does it take to be a winner in today’s stock market? We’ll explore the difference between winners and losers when it comes to investing on today’s episode.

What we discuss:

0:53 – UNC versus Kansas

3:43 – The market since 2020

5:10 – Winners have a plan

6:49 – Changes since 2020

11:19 – Greed and gains

14:20 – What makes a winner?

16:55 – Waiting to get back in

19:49 – Mailbag: “Non-financial suggestions for retirement?”

Get additional financial information: https://doncashpodcast.com/episodes/

Last month some new IRA changes were proposed. How could these possible changes impact your financial future and your family’s?

What we discuss:

0:32 – Spring has sprung

2:27 – IRS rule changes

4:29 - Inheritance rules

6:47 – New proposed required distributions

7:49 – When the original owner dies

9:21 – Designated beneficiaries

11:37 – Impact on generational wealth

13:13 – Make a comment to the government

13:52 – Roth tax advantages

14:58 – Tax planning tips for 2021

17:35 – What’s the catch?

18:28 – Is there a MAGI?

Submit a formal comment: https://www.federalregister.gov/documents/2022/02/24/2022-02522/required-minimum-distributions

Referenced Article: https://www.journalofaccountancy.com/news/2022/feb/proposed-regulations-update-rmds-secure-act-changes.html

Get additional financial information: https://doncashpodcast.com/episodes/

Today, we will discuss the geopolitical events of the past and present. Geopolitical risk is nothing new, but will current conflicts significantly impact the economy?

What we discuss:

0:30 – Things change quickly

2:05 – Keeping perspective

3:16 – Ukraine and Russia history

3:56 - Ukraine wanting to join NATO

6:00 – Different types of risk

8:37 – Geopolitical risk in perspective

10:46 – 26 market corrections since WWII

13:14 – Gas prices throughout history

15:28 – Four mega trends

17:46 – What can we expect to see?

20:29 – Not everything is affected equally

22:20 – What is the ‘solution’?

Get additional financial information: https://doncashpodcast.com/episodes/

Today we’re talking about media hype and how it can lead people to make bad financial decisions that could cause problems with or ruin their retirement. Find out if you have fallen for any of this hype.

What we discuss:

3:00 – Bitcoin

3:59 – Rhode Island couple

9:40 – Questionable Internet scheme

11:40 – Buying gold

14:20 – Investing in crypto

16:15 – Required minimum distributions

Resources:

https://leedaily.com/2021/12/05/a-couple-stored-ira-gold-at-home-they-owe-the-irs-more-than-300000/

https://www.irahelp.com/slottreport/proceed-caution-when-investing-your-ira-gold

Get additional financial information: https://doncashpodcast.com/episodes/

We are wrapping up our series on economic storms this week by focusing on the media. Between constant headlines and breaking news, there can be a lot of news to sift through. So, what should we expect from the media throughout 2022?

Screen Time -

https://www.comparitech.com/tv-streaming/screen-time-statistics/#:~:text=The%20average%20American%20spends%20over,at%20a%20screen%20every%20day.

The Social Dilemma –

https://www.thesocialdilemma.com/

The Reticular Activating System -

https://www.sciencedirect.com/topics/veterinary-science-and-veterinary-medicine/reticular-activating-system#:~:text=The%20reticular%20activating%20system%20(RAS,awake%2C%20desynchronized%20cortical%20EEG%20patterns.

What we discuss:

0:42 – Snow storm!

2:41 – Financial news

4:18 – How big media works

6:29 – Getting you addicted

8:21 – Collecting your information

10:15 – Goal to get people watching

11:43 – What do you get from the media?

13:13 – What actions are you going to take?

14:54 – Using keywords to get views

16:47 – Inflation is a real concern

18:24 – How do we deal with it?

20:18 – Don’t act on greed, fear, or anxiety

Get additional financial information: https://doncashpodcast.com/episodes/

What other economic storms can we expect in 2022? We’ll discuss stock market dips, geopolitical tensions, and more today.

What we discuss:

0:49 – Kids are back in school

4:37 – Historical tax rates

6:54 – Stock market turmoil

9:33 – Selling out of panic

10:56 – Diversification matters

12:57 – Geo-political risks

15:13 – Supply chain issues

17:51 – Increase in rent

19:12 – Top expenses

22:39 – Quality of life

Get additional financial information: https://doncashpodcast.com/episodes/

What economic threats should we be preparing for in 2022? We’ll discuss inflation, taxes, and political turmoil today and how these storms could impact your plan.

What we discuss:

1:05 – We are into 2022

3:09 – There is a lot to worry about

6:09 – Inflation touches 7%

10:04 – Prepare for inflation

12:40 – Taxes in the short term and long term

17:03 – State income taxes

19:52 – Stealth taxes

23:22 – Political turmoil

Resources:

https://www.wsj.com/articles/the-best-investment-2022-stock-market-advice-11641571196

Get additional financial information: https://doncashpodcast.com/episodes/

As 2021 comes to an end, what can we learn from this year? On today’s episode, we’ll discuss some of the top headlines and predictions of this year. How many of those predictions turned out to be correct?

Read and get additional financial information: https://doncashpodcast.com/podcast/2021-year-in-review/

What we discuss:

1:06 – 2021 is coming to an end

2:47 – Highlights, headlines, and predictions

3:47 – Let’s not put too much pressure on 2022

5:24 – Making financial decisions based on the news

7:30 – COVID impacting the market

10:27 – Is this inflation permanent?

14:00 – Political review of 2021

15:13 – Being prepared for the next year

17:03 – Investments in cryptocurrency

Giving Tuesday was this week and we are entering the most charitable time of the year. What do you need to know about charitable giving and taxes?

Read and get additional financial information: https://doncashpodcast.com/podcast/the-season-of-giving/

What we discuss:

4:09 - Itemized deductions vs. standard deductions

8:20 – Allowance of $300

9:39 – RMDs and giving

12:14 – What if you are under 70 and a half?

13:45 – Donating appreciating stock or real estate

16:04 – Estate planning standpoint

18:22 – Cash connection question

More Resources:

https://www.pe.com/2021/11/07/gift-money-now-before-estate-tax-laws-sunset-in-2025/

https://www.forbes.com/sites/ashleaebeling/2020/12/22/new-bigger-charitable-tax-break-for-2021-in-year-end-spending-package/?sh=56747c5a5710

https://www.kiplinger.com/taxes/tax-deductions/601993/charitable-tax-deductions-an-additional-reward-for-the-gift-of-giving

https://www.kiplinger.com/taxes/603773/5-year-end-moves-to-help-retirees-trim-their-tax-bill

Inflation! We are seeing it everywhere. From the gas we buy to our Thanksgiving turkeys, prices seem to be going up everywhere. How does this affect Medicare? Well, you’ll probably be paying more on premiums. Will the infrastructure bill make inflation worse? That remains to be seen but you should stay vigilant. We will discuss these issues and how they impact you on today’s show.

Read and get additional financial information: https://doncashpodcast.com/podcast/inflation-infrastructure-medicare/

What we discuss:

0:53 – Thanksgiving is coming up!

2:09 – Inflation is heating up

4:30 – Medicare premium letters

7:11 – 2020 tax year for 2022 Medicare surcharge

8:34 – Infrastructure bill passed

11:16 – Will the bill affect inflation?

13:02 – Investors navigating inflation

15:17 – Residential real estate investments

17:23 – Home prices in the past

20:55 – How does inflation affect retirement planning?

24:11 – Mailbag: Will I run out of money without a budget?

It is open enrollment season for Medicare! On today's show, we are going to discuss Medicare with expert Ray Martin. We will be covering the different types of plans, premiums, and tips you should be aware of as you reach age 65 and beyond.

Read and get additional financial information: https://doncashpodcast.com/podcast/the-abcs-of-medicare/

More Resources:

A Brief History of Medicare -

https://www.medicareresources.org/basic-medicare-information/brief-history-of-medicare/

Medicare Handbook –

https://www.medicare.gov/medicare-and-you

The Nuts and Bolts of Medicare Book -

https://martinmedicare.lpages.co/fmbcom/

What we discuss:

0:45 – Our guest Ray Martin

2:27 – Medicare basics

4:09 – Part A and B Medicare

5:44 – True universal coverage

6:54 – Premium for Medicare

10:20 – Working past 65

12:36 – Medicare supplements

15:22 – Medigap policies

17:18 – Medigap premium range

20:19 – Irmaa surcharge

21:46 – Medicare advantage plans

27:15 – Advantage plans and out of pocket expenses

29:45 – Key dates Oct 15th – December 7th

33:15 – After open enrollment

36:35 – Big limitations with switching

37:34 – Part D prescription drug plan

41:04 – Mistakes to avoid during open enrollment

What should you be planning for as you reach 50? What is the best age to take Social Security? Today, we are going to go over some key ages to be aware of as you plan for and approach retirement.

Read and get additional financial information: https://doncashpodcast.com/podcast/important-ages-in-retirement/

What we discuss:

0:30 – What’s new?

3:15 – Important ages

4:50 – Turning 50

6:50 – Contributing a total of $7,000

7:44 – Exceeding 26,000 in 401k

10:01 – Turning 55 & 59 ½

12:05 – Going into our 60s

18:03 – Waiting till 70 for Social Security

23:11 – Going into our 70s

You’ve probably heard about the recent tax proposals in Congress. How will they affect your financial future if they pass? Today we will discuss these proposals, while also taking it back to 1981 to discuss bond rates.

Read and get additional financial information: https://doncashpodcast.com/podcast/bonds-interest-rates-and-tax-proposals/

What we discuss:

0:36 – Happy October!

4:07 – 1981 Articles

6:18 – Bond rates in 1981

7:34 – Bonds & CDs

10:01 – Investing hindsight

13:00 – What can cause an increase in interest rates?

15:47 – Proposed tax changes

18:56 – Not than many billionaires

What can get in the way of your financial success? Today we are talking about a few financial biases such as the fear of missing out and overconfidence. We will also discuss how to avoid these biases.

Read and get additional financial information: https://doncashpodcast.com/podcast/5-financial-biases-to-avoid/

What we discuss:

0:50 - How has the summer been?

2:11 - Why should we care about how behavioral finance?

5:41 - What financial biases do we have?

15:46 - Cash Connection: When should I file for Social Security benefits?

Today we have a special episode of the podcast for you. With the 20th anniversary of 9/11 approaching, Don invited special guest Kevin Haney onto the show to talk about how his work took a turn after September 11th and what it meant for his life.

Read more and get additional financial resources here: https://doncashpodcast.com/podcast/finding-a-new-path-and-perspective-after-9-11/

About our guest: https://www.growingfamilybenefits.com/about/

What we discuss on this episode:

0:21 - Today’s guest is Kevin Haney.

1:54 - What was Kevin’s personal story and experience after September 11th?

3:58 - Kevin originally was booked on flight 93 but changed it.

5:42 - What did Kevin do after that close call?

6:39 - When did Kevin find out what was happening?

9:46 - How did Kevin’s perspective change after that?

15:08 - What did Kevin transition into?

16:27 - What was it like to change careers mid-life?

19:14 - The same skill set didn’t all transfer over. How did he pivot?

21:13 - What advice would Kevin give other people looking to switch careers?

28:31 - What was it like selling insurance?

31:04 - What was Kevin learning?

33:20 - How did Kevin find out about Jesus?

38:33 - What was it like meeting Doreen?

42:19 - What’s Doreen’s unique family situation?

45:47 - What are Kevin’s plans for the future?

Today we’re excited to bring on special guest Brien Dunphy, who is a business consultant that balances work with his family of 10 kids in New Jersey! How do they possibly manage the finances? (Hint: Brien is not rich or living on a trust fund) Listen to Brien’s amazing story on today’s podcast.

Read more and get additional financial resources here: https://doncashpodcast.com/podcast/budgeting-time-and-money-with-ten-kids/

About our guest: https://www.briendunphy.com/

What we discuss on this episode:

0:18 - Introducing special guest: Brien Dunphy.

3:40 - How did Don and Brien meet? What’s Brien’s background?

9:00 - What did Brien learn during his master’s program?

11:38 - What systems had to be put in place after having kids?

14:03 - What is schooling like?

17:53 - How did Brien end up doing what he does now?

21:44 - What does it cost to run a household annually?

30:15 - What does daily life look like?

37:45 - What is Brien’s guilty pleasure?

39:38 - What did they learn from their daughter, Hope?

Do you have the option of contributing to an HSA for medical expenses? Why does this matter? Don shares why an HSA can provide big benefits later on and in retirement.

Read more and get additional financial resources here: https://doncashpodcast.com/podcast/the-hidden-value-of-an-hsa/

What we discuss on this episode:

1:17 - Delta is making waves.

6:54 - What is the hidden value of an HSA?

9:28 - How is an HSA different from a typical health insurance plan?

11:56 - What are the benefits of an HSA?

13:36 - What are the rules?

16:16 - How do you get the money out in retirement?

Is now still a good time to refinance your home? With record low interest rates, the past year has resulted in a lot of people choosing to refinance. If you haven’t done so already, have you missed your chance? On today’s episode of the podcast, Don talks through what kind of numbers to pay attention to as you determine what is best.

Read more and get additional financial resources here: https://doncashpodcast.com/podcast/is-it-still-a-good-time-to-refinance/

What we discuss on this episode:

1:42 - Don’s facing a car shortage.

4:24 - Should you refinance your home?

7:58 - Why are the rates low while inflation is high?

11:28 - So it is still a good time?

15:53 - Should retirees consider selling or downsizing?

21:04 - Don’t fall victim to recency bias.

Leaving an inheritance is often a goal, but how can it be done effectively? We talk through the different mistakes to avoid and the things to pay attention to when estate planning.

Show notes & more resources: https://doncashpodcast.com/episodes/

Episode highlights:

0:38 - How does Don like to travel?

3:30 - Baby Boomers are starting to distribute record amounts of wealth.

5:29 - What’s the average inheritance?

6:04 - Some choose to gift to their children and grandchildren while they are alive.

9:21 - How did the SECURE Act impact inheritances?

10:54 - There are designated beneficiaries and non-designated beneficiaries.

15:55 - How does the beneficiary form differ from a will?

19:36 - Cash Connection: What’s the best way to help my 18-year-old with retirement savings?

Before you go wild with your funds as the country opens up again, what should you do with your recent savings? Don shares some strategies to make sure you accomplish your financial goals.

Read more and get additional financial resources here: https://doncashpodcast.com/podcast/what-to-do-with-your-pandemic-savings/

What we discuss on this episode:

0:42 - Happy 4th of July!

1:34 - What should you do with your pandemic savings?

4:23 - Where should you invest?

6:09 - What do you want your money to do? Are you planning to travel?

9:13 - Does Don anticipate a strong third quarter?

14:06 - What is happening with inflation right now?

16:10 - Getting to Know Don: What’s one thing that always makes your day better?

The word rich gets thrown around all the time but who actually falls into that category? It’s certainly subjective but the government’s definition by directly impact your future taxes. Let’s look at some statistics and get a better idea of how taxes are generated and who is actually paying them.

Read more and get show links here: https://doncashpodcast.com/podcast/who-is-the-rich/

What we discuss on this episode:

0:48 – Are we post-COVID?

2:37 – Clarifying comments from previous episode on New Jersey

5:02 – Who is the rich?

7:70 – $40,000 dilemma

8:48 – Issue of the wealthy not paying enough in taxes

10:33 – How much puts you in the top 1%

12:15 – Income tax rates

15:48 – Cash Connection question on long-term care policy rate increase

When should you consider moving to another state? Sometimes tax benefits may be a motivator when making this decision. Don talks about the tax ramifications when living in certain states.

Read more and get additional financial resources here: https://doncashpodcast.com/podcast/moving-to-a-tax-friendly-state/

What we discuss on this episode:

0:48 - School’s coming to an end!

2:22 - The pandemic has changed the way people do things.

4:19 - New Jersey is number one in lifetime total taxes paid.

6:52 - Why are people leaving certain states?

14:55 - Why does Florida appeal to retirees?

18:40 - It’s important to work with an advisor.

We’ve already seen tremendous inflation in housing, lumber and other areas since Covid hit. But will that soaring inflation continue?

Read more and get additional financial resources here: https://doncashpodcast.com/podcast/new-inflation-numbers-what-do-they-mean/

What we discuss on this episode:

4:53 – Most recent concern about inflation

6:24 – What to be concerned about?

8:07 – Short-term or long-term inflation?

10:05 – Persistent inflation?

11:58 – Why did stock market drop?

13:42 – Don’t put all eggs in one basket

15:55 – Smooth out the ride

18:40 – Sensible but difficult in practice

President Biden is approaching 100 days in office and is about to hold his first joint session in Congress. One of the things he’ll be talking about is the capital gains tax proposal. What do you need to know about this?

Read more and get additional financial resources here: https://doncashpodcast.com/podcast/how-could-the-capital-gains-tax-affect-you/

What we discuss on this episode:

0:30 - Spring brings allergies and storms.

2:35 - Don’t forget about this year’s tax deadline.

3:53 - Biden is coming up on 100 days.

5:22 - What is the capital gains tax?

8:24 - How might this affect everyone?

15:27 - What about the step-up in basis?

21:06 - What is publication 590-B?

Are you or someone you know considering living in a retirement community? What should you know ahead of time? What kind of costs might come with that?

Read more and get additional financial resources here: https://doncashpodcast.com/podcast/what-you-need-to-know-about-continuing-care-retirement-communities/

What we discuss on this episode:

0:37 - Spring has sprung!

1:57 - Senior living communities struggling financially.

5:14 - What if you don’t like it?

6:24 - How has COVID affected these communities?

8:18 - Are people usually satisfied living in these communities?

10:15 - What suggestions does Don have when considering a CCRC?

12:24 - What questions should you ask and assess?

18:50 - Cash Connection: Collecting Social Security as a widow?

22:51 - Getting to Know You: What did Don do with some raffle winnings?

If you thought the last COVID relief bill was big, have you heard about the infrastructure bill and the potential tax increases to pay for it? On our last show we talked about the most recent stimulus package and what it entailed. This episode of the podcast we discuss the new infrastructure bill being proposed.

Read more and get additional financial resources here: https://doncashpodcast.com/podcast/infrastructure-bill-and-future-taxes/

What we discuss on this episode:

0:33 - March Madness is coming to an end.

3:05 - What potential tax increases are we looking at?

6:48 - How reliable are these renewable sources of energy?

8:04 - What other items are included in this bill?

10:36 - Who is paying for this bill?

22:47 - Getting to Know You: What’s the luckiest thing that’s happened to Don recently?

We talk through what the stimulus package includes, what it means, and where we’re headed on today’s episode. Then, Don answers a question from the mailbag about refinancing.

Read more and get additional financial resources here: https://doncashpodcast.com/podcast/what-does-the-stimulus-package-mean-for-you/

What we discuss on this episode:

0:25 - What’s going on this week as we enter into spring?

3:04 - $1.9 trillion stimulus package was passed.

11:02 - Are we headed toward inflation?

13:32 - Mailbag: Is it too late to refinance?

15:31 - What did Don look at when he refinanced?

21:39 - Where would Don like to retire?

What’s the best approach to the market? If you think you’re picking a “good stock” what does that really mean? And how can you make a good choice? On today’s podcast, Don shares the academic approach to the market as well as a number of comparisons of how this can look in everyday life.

Read more and get additional financial resources here: https://doncashpodcast.com/podcast/wall-street-approach-vs-academic-approach/

What we discuss on this episode:

1:43 - Winter weather presses on.

2:26 - What’s the latest college “resource”?

4:49 - Is buying “good stocks” still a speculation?

7:07 - What’s the academic approach to the market?

12:35 - How likely are you to beat the market?

16:32 - What does Don think about the economy?

18:34 - What is recency bias?

What just happened with GameStop? What can we learn from it, and how does it apply to your financial plan? We’ll get Don’s perspective on today’s show.

Read more and get additional financial resources here: https://doncashpodcast.com/podcast/gamestop-stock-situation/

What we discuss on this episode:

1:06 - Don’s theory when it comes to picking a team to cheer for in the Super Bowl.

2:40 - What other drama has occurred in February?

3:48 - What good news has happened so far this year?

6:49 - What’s been happening with GameStop?

9:01 - What’s a short sell? What was different this time?

13:31 - What’s long-term investing and what’s luck?

15:25 - Why does this situation remind Don of a TV show?

17:26 - Don’t get greedy!

18:16 - Did any of Don’s clients consider buying GameStop stock?

19:43 - How do you build wealth?

21:07 - What age did Don love being?

What does Don predict for the new year? How can we prepare our financial plan appropriately for what may come in the future? Let’s talk about some areas that need attention in 2021.

Read more and get additional financial resources here: https://doncashpodcast.com/podcast/what-should-you-be-thinking-about-for-2021/

What we discuss on this show:

0:50 - As predicted, 2021 hasn’t exactly been the brand-new start we all hoped for.

3:09 - What’s the latest in vaccine and COVID news?

10:17 - What is the economic side of what’s to come?

14:27 - What is the real estate market like right now?

18:17 - What should we be thinking about in 2021?

As you wrap your gifts and prepare for the ball drop, we wrap up 2020 by reviewing the highlights and lowlights that happened this year. Can you believe all that’s happened?

Read more and get additional financial resources here:

https://doncashpodcast.com/podcast/the-highlights-lowlights-wrapping-up-2020/

Download the strategies checklist PDF: https://doncashpodcast.com/wp-content/uploads/2020/12/7-Best-Strategies-for-Year-End-Planning-2020.pdf

What we discuss on this show:

0:39 - It’s beginning to look a lot like Christmas with snow for Don.

3:28 - Let’s do a year-end wrap up of 2020.

5:37 - January was when we were talking about the impeachment of the president.

6:28 - March we started the shutdown.

6:50 - Early summer we had protests and riots.

8:07 - By fall we were watching the election.

10:40 - What lessons can we carry into 2021?

15:05 - What habits have we changed?

18:10 - What other surprises has 2020 brought?

We’re closing in on the end of the year, which is a great time to catch up on a little rest and relaxation. Before you do that, there are some financial items you should review before the calendar turns to January. We’ll run through a list of five planning considerations on this show, and we’ll also get Don’s thoughts on the recent surge in the market.

Read more and get additional financial resources here: https://doncashpodcast.com/podcast/end-of-year-financial-checklist-market-update/

Download the strategies checklist PDF: https://doncashpodcast.com/wp-content/uploads/2020/12/7-Best-Strategies-for-Year-End-Planning-2020.pdf

What we discuss on this show:

1:14 – Holiday update

5:29 – Market up nearly 10% in November, surprising?

7:16 – How much is vaccine and treatment related?

8:25 – Value vs Growth companies

13:46 – Roth conversions

16:07 – IRA hardship distribution

17:07 – Qualified Charitable Distributions

18:49 – Estate Planning

As we near the holiday season and end of the year, what’s been happening in our country? How does it impact what we do in our own financial planning? Anything we should do before the year is over?

What does the election mean for planning for 2021, especially when we don’t have official results yet? Even without total clarity on our politicians, the economic results are coming back fairly strong, especially when it comes to consumer spending.

We'll talk about that on today's episode.

Read the show notes here: https://doncashpodcast.com/podcast/evaluating-the-end-of-the-year-2020/

What we discuss on this show:

1:14 - COVID is spiking sadly.

3:52 - The election results are not yet finalized.

5:22 - The stories about possible vaccines are promising.

7:16 - What does a divided Congress mean for taxes?

9:10 - What moves should we make before the end of the year?

10:29 - Any changes with Social Security?

12:46 - What specific financial planning moves should we consider?

16:19 - What are long-term capital gains and qualified dividends?

Election Day is behind us but the results for this year’s vote are still unclear. As unusual as the 2020 election has been, there are some surprising parallels to previous years. Join us as we go through those and then discuss what we can be doing from a planning standpoint during all the uncertainty.

Read more and get additional resources here: https://doncashpodcast.com/podcast/how-this-election-compares-to-previous-years/

What we discuss on this show:

0:29 - Election Day has passed

2:30 - Will be a while before things get settled

3:50 - Similar to the great election controversy of 1876

7:17 - So how was that election resolved?

9:52 - What planning considerations do we need to have during all this?

12:59 - What do we do now?

16:17 - Gaining that peace of mind for your future

The federal government recently announced an increase to Social Security benefits for 2021 but it also came with an increase in Medicare premiums. On this episode, we’ll tell you what you need to know about these adjustments along with thoughts on additional changes that could come be coming down the road.

Read more and get additional financial resources here: https://doncashpodcast.com/podcast/planning-for-social-security-benefit-changes/

What we discuss on this show:

3:22 - Mixed signals from the market with the latest news.

4:37 - Canceled debates

6:55 - Cost of living & premium increase in Social Security benefits

9:08 - Is Social Security going broke?

11:04 - Stats on claiming benefits

12:11 - Ways they could make the program solvent

14:28 - Reducing the inflation benefit

16:47 - How does this impact someone in retirement now?

20:38 - Getting to Know Don: What’s a habit that drives you crazy that some people might have?

What are some of the economics surrounding an election year? How will our president impact our economy? Let’s talk about the 800 pound gorilla in the room as we head into the final quarter of 2020.

Read more and get additional financial resources here: https://doncashpodcast.com/podcast/lets-talk-electionomics/

What we discuss on this show:

1:39 - What does it take to go boating these days?

4:31 - What should investors and retirees be doing leading up to the election?

6:12 - What do the polls indicate?

11:17 - How do the markets react?

16:04 - Why do we see the economy working independently of the presidents?

Have you ever heard of the 10-5-3 rule? It’s one of the outdated financial planning axioms that just don’t make sense anymore. Today we’ll tell you why and explain interest rates, inflation, and factors that determine where we’re headed.

Read more and get additional financial resources here: https://doncashpodcast.com/podcast/obsolete-financial-planning-axioms/

What we discuss on this show:

0:33 – An update on what’s going on with Don.

3:45 – The 10-5-3 Rule

9:07 – An example of how inflation works.

11:59 – Items with the greatest inflation.

14:06 – Could 10-5-3 rule become more relevant?

15:16 – Cash Connection: Should I be investing different since we have this election approaching in a few months.

As summer winds down, the economy is still facing numerous challenges but you wouldn’t know it by looking at the stock market and real estate these past few months. Let’s try to make some sense of what we’re seeing in both markets and find out what Don thinks about the rest of the year.

Read more and get additional financial resources here: https://doncashpodcast.com/podcast/stock-market-real-estate-update/

What we discuss on this episode:

0:48 – What’s going on since last show?

5:48 – What should we make out of these market gains?

10:19 – Tech driving the market

12:56 – How will the election factor into the market?

16:45 – How is the housing market staying so strong?

23:25 – Does Don have any clients thinking about cashing out and moving?

24:24 – Where is Don getting his news from these days?

Are you prepared for a financial storm? We explain what to do and why a financial advisor is so important in helping you weather tough conditions when the forecast gets dark.

Read more and get additional financial resources here: https://doncashpodcast.com/podcast/preparing-for-financial-storms/

On today's show:

5:35 – We react and don't plan for financial storms

7:30 – Positives and negatives of diversification

9:07 – Hot stocks

10:02 – Tesla

13:54 – Mailbag: Should financial advisor help with social security, life insurance and legacy planning?

Have you made a big splurge recently? How have your finances shifted in the past several months during the pandemic? Today we’ll talk about how spending has changed as our lifestyles have slowed down.

Read more and get additional financial resources here: https://doncashpodcast.com/podcast/have-you-made-a-corona-purchase/

On today's show:

0:26 - Don talks summer heat and summer fun before school starts again.

6:28 - Have you heard about the “Corona Purchase”?

9:08 - Home improvements projects and remodels are popular right now.

14:51 - Inventory on some hot items are running low.

15:51 - Who benefits economically from these improvements?

18:10 - Are you diversified?

22:14 - Getting to Know You: Would you rather make twice as much money next year or make the same amount of money while only working half as much?

Times like these may make you think more soberly and realistically about if something tragic were to occur. How do you prepare financially for the inevitable of one spouse passing away? We’ll take you through the important considerations on this episode.

Read more and get additional financial resources here: https://doncashpodcast.com/podcast/what-happens-financially-after-the-loss-of-a-spouse/

Today's show schedule:

0:27 - Don shares about his holiday.

3:01 - What happens after the loss of a spouse financially?

5:16 - What does it look like when only one spouse takes care of the financial plan?

6:58 - What can people do ahead of time to prepare?

9:08 - What tax changes will happen after a spouse dies?

11:37 - Mailbag: Is this a good time to buy bonds?

16:10 - Do you know your risk tolerance as well as your goals?

Don recently went to the doctor for a checkup and a cardio stress test. All is well, but the experience reminded him just how similar it is to the testing he puts his clients’ portfolios through to make sure they can weather life’s various financial storms. He’ll also give you five easy-to-follow rules for how to survive the next stock market crash.

Show Notes, Resources & Contact Info:

https://doncashpodcast.com/

Timestamps:

0:35 – Life is slightly back to normal for Don.

2:23 – Don stumps Marc on some July 4th trivia. How many signers were on the Declaration of Independence?

4:23 – Have you ever gone through a cardio stress test? Don just experienced one during a health checkup.

10:09 – What does the financial stress test really look like? Don lays out three key elements.

12:50 – Let’s learn some lessons from the 2020 market crash with the 5-Rule Market Crash Survival Guide.

17:02 – Don discusses some more tweaks to this year’s Required Minimum Distribution rules. Lots of IRA law tinkering this year…

19:55 – Getting To Know Don: If you were going to own a different business, what kind of business would it be?

We look at several quotes from Mark Twain in today’s episode to see how it may apply in our own financial life. Then, we talk through traditional and Roth IRAs to see which is better for you.

Read more and get additional financial resources here: https://doncashpodcast.com/?p=305

Today's show schedule:

0:31 - Don shares his summer plans and how they’ve had to change.

2:17 - What can we learn about money from Mark Twain?

4:13 - Thinking the market will always go up can lead to panic when it doesn’t.

6:18 - October…and basically all of our months are dangerous for stocks.

7:57 - What are people talking about when they mention the stock market?

9:34 - A balanced portfolio does better during turbulent times.

11:19 - Choosing between a traditional and Roth IRA.

13:12 - What is the power of the Roth IRA?

14:33 - What’s the difference between a Roth conversion and contribution?

16:23 - Who should contribute to a traditional and who should contribute to a Roth IRA?

18:25 - How does the Roth conversion work?

With a constant changing world, particularly in the last four months, what is going on with the economy right now? What takeaways should we have from that when mapping out our financial plan?

Read more and get additional financial resources here: https://doncashpodcast.com/?p=301

Today's show schedule:

0:43 - Hopefully we move toward a better tomorrow.

2:01 - How can we have high unemployment and a rising stock market?

3:17 - How is this possible?

6:43 - Why is it important to diversify?

9:13 - Cash Connection: Is it worth the penalty in a variable annuity to move my money somewhere with lower fees?

13:04 - Getting to Know You: What does Don get nostalgic about from the past?

We spend a lot of time on the financial side of life, but money is nothing without your physical and mental health. Today we talk to Don about how clients have been handling isolation, how they’re staying healthy, and whether they are starting to venture out.

Read more and get additional financial resources here: https://doncashpodcast.com/?p=290

Today's show schedule:

1:09 – What’s the latest update on opening up businesses?

2:57 – Don was finally able to get a haircut but here’s what he had to do.

5:15 – How are clients doing financially and emotionally through this pandemic?

7:06 – Are clients starting to venture out yet at all?

10:13 – The isolation is starting to wear on people.

13:20 – Many deceased people are receiving stimulus checks.

14:59 – A lot of companies like insurance are providing discounts during this time.

16:56 – Cash Connection question: I just inherited a large sum of money from my dad. I thought it would be a bout $50,000 but it’s about 10x that amount. I’ve been saving on my so I don’t really know what to do with this. Any recommendations?

18:39 – Different tax treatment for each asset in the inheritance

As we transition into a new routine and daily life, the economy continues to struggle. What has the Fed done? And will it be enough to help our economy?

Read more and get additional resources here: https://doncashpodcast.com/podcast/what-does-economic-health-looks-like/

Today's show schedule:

1:45 - Life feels a bit like the movie “Groundhog Day” that repeats over and over.

3:35 - What lessons could be learned from the movie?

5:32 - In the News: Police in New York City broke up an illegal night club/barbershop.

7:23 - What is the Federal reserve doing to help with the high unemployment rate?

11:15 - The Fed is trying to pump money into the economy.

12:02 - What should you do with your stimulus check?

12:25 - What is the formula for economic health?

13:37 - Using an example of a restaurant dinner bill, how will that money be used?

17:12 - Cash Connection: Should you refinance your mortgage?

21:18 - Have you been inundated with virus-related emails? Be careful!

As we approach the third month dealing with the coronavirus health crisis, let’s get an update on where things stand. Don will tell us how he’s dealing with the quarantine, what clients are concerned about, and the adjustments you might want to consider.

Read more and get additional resources here: https://doncashpodcast.com/?p=277

Today's show schedule:

1:56 - Some quarantine trivia.

3:47 - How is the family doing through all this?

4:47 - Don’s three good things to reflect on.

6:30 - How are clients and other people in the industry dealing with this?

7:39 - It’s hard to find context for a lot of the statistics we’re hearing.

10:42 - What kind of feedback are you hearing from clients since last month?

11:28 - The changes in the IRA rules have caused some confusion. Don clears things up.

13:45 - Tax obligations for these provisions.

14:24 - What adjustments are clients making right now?

17:00 - Does this law affect charitable donations at all?

19:09 - Getting to Know Don: If you could relay a message to yourself 20 years ago, what would you tell yourself knowing what you know now?

Have you heard about the CARES Act, which will provide aid and relief for individuals and businesses? What adjustments have you made recently due to coronavirus and its impact? We'll discuss a few key areas to pay attention to.

Read more and get additional resources here: https://doncashpodcast.com/?p=269

Today's rundown:

0:40 - What a world we’re living in now with social distancing and flattening the curve.

5:40 - Have people been making big changes with their financial plans?

7:49 - People typically fear getting sick or running out of money.

8:20 - What can you control?

9:54 - What has changed with the CARES Act?

14:40 - What are coronavirus-related distributions?

18:31 - Planning is a process and this will pass.

The coronavirus struck quickly across the country and it caused a rapid sell off in the market that has many people worried. How bad will this be? What can you be doing for your retirement plan? We get the latest from Don Cash with his perspective on what we’re witnessing.

Read more and get additional resources here: https://doncashpodcast.com/?p=257

Today's rundown:

1:24 - Let’s talk about what’s happening here and across the country with the coronavirus.

2:22 - Life has changed in many ways.

3:15 - Don talks about an app he’s been using to show gratitude daily.

4:23 - There’s not a lot of positivity in the news right now.

6:25 - Has Don been getting inundated with calls from clients? What kind of conversations is he having?

8:31 - What kind of financial topics are you covering right now?

9:30 - People are prone to react with fear in uncertain times.

10:44 - Is it a good time to buy?

12:44 - How do you see the government proceeding over the near term?

13:51 - People are looking for a v-shaped recovery.

15:01 - This time there’s no fear of a bank run.

15:58 - What are the things that can hurt your retirement plan right now?

18:04 - What other time of history would you rather be living in when it comes to dealing with this type of situation?

19:35 - With all the talk of selling, many people are actually adding.

21:30 - Getting to Know Don: What’s something you’ve done before that you’ll never do again?

Have you heard of inherited IRAs? The SECURE Act changed a lot of rules, including the details surrounding the inherited IRAs, so you’ll want to know how to plan accordingly.

Read more on this topic and get additional resources here: https://doncashpodcast.com/?p=244

Today's rundown:

1:27 - How has the SECURE Act changed things for us?

3:51 - How have inherited IRAs changed?

7:32 - Are there RMDs in the new rule?

9:26 - Which beneficiaries are exempt from this rule?

10:15 - If you listed a trust as your IRA beneficiary, you’ll want to revisit that with an estate planning attorney.

12:09 - Cash Connection: What are the contribution limits and rules for a Roth IRA?

17:42 - Getting to Know You: What is special about where Don grew up?

It’s been a busy year already and we aren’t even through February yet. Today we’ll address the top stories dominating the news right now – the Coronavirus, impeachment, and the election – and discuss whether these things will affect our retirement and planning in 2020.

Show notes and additional resources: https://doncashpodcast.com/?p=243

Today's rundown:

1:28 – In the News: What’s Don’s take on the Coronavirus and its impact?

4:34 – Don has a client that’s a doctor who’s always surrounded by viruses and never gets sick. This was his advice.

5:35 – In the News: How about the impeachment and election and its impact?

6:53 – The key is wisdom and the media doesn’t always provide that.

8:12 – Cash Connection question #1: I just retired and my husband is retired as well. We’re thinking about doing some serious traveling now. Should we buy travel insurance?

10:49 – Here are the conversations we have with our clients about travel.

14:37 – Getting to Know Don: What do you do to stay in shape during the winter?

Are you caught in the middle of caring for both aging parents and a young family, or even, adult children and grandchildren? It can be a difficult time full of stress. In today’s episode of Your Life, Your Money, Don shares a few examples of what this can look like and how to navigate it.

Show notes and additional resources: https://doncashpodcast.com/?p=236

Today's rundown:

0:57 - The “sandwich” generation consists of people taking care of both their aging parents and grown children.

3:12 - Everyone’s situation is different, but it can often feel like one sibling takes on the most responsibility.

5:13 - How do you handle the stresses of being caught in the sandwich generation?

5:53 - Don’t do it all yourself.

6:43 - Assess your own situation for the future.

7:13 - On the other side, parents may feel a lot of pressure to help their children succeed.

9:29 - Cash Connection: Is it a good idea to sell your home and move into a retirement community?

14:09 - How are Don’s New Year’s resolutions going?

Feeling confused about what the SECURE Act means for you and your RMDs? Don will talk you through what you need to know and help you figure out whether you’ll need to take RMDs sooner or later.

Show notes and additional resources: https://doncashpodcast.com/podcast/rmds-are-you-billy-or-are-you-bruce/

Today's rundown:

1:38 - The SECURE Act is making people feel insecure about their RMDs.

2:57 - Are you more like Billy Joel or like Bruce Springsteen?

7:44 - How does Don help clients navigate these changes?

10:08 - Cash Connection Question: Can you explain the widow’s tax?

13:41 - Is there anything that can be done ahead of time to prepare for this tax?

17:02 - Getting to Know You: How does Don start the day?

Before we turn the page and move into the new decade, let’s take a look back at a busy 2019. We saw a strong market, interest rate cuts, the passing of the SECURE Act, and more, but there are also some signs for concern heading into 2020.

Show notes and additional resources: https://doncashpodcast.com/?p=220

Today's rundown:

0:35 – Hard to believe it’s already 2020.

1:33 – What does Don see in store for 2020 from a financial perspective?

4:39 – People ask frequently about what’s going to happen in the stock market.

5:11 – Think about what was happening one year ago (December 2018) and the predictions we heard.

7:52 – Here’s what hasn’t changed financially in the last year.

8:21 – There are a few things to be concerned about heading into 2020.

11:52 – Cash Connection Question: My dad is 91 and remarried about 15 years ago. Both my dad and stepmother are in assisted living and thankfully have long-term care plans that cover the cost. He has told us he’s leaving all his assets to his kids. Someone told me in New Jersey that you can’t leave everything to your kids. Is that true?

14:45 – What does Don’s planning process look like when it comes to estates?

16:57 – Getting to Know Don: What is something people would be surprised to know about you?

We’ve been keeping an eye on the SECURE Act for months now and recent legislation passed by Congress will make it effective starting in 2020. Get an overview of the adjustments and find out why Don believes this is the most important change to retirement accounts in nearly 15 years.

Show Notes and Additional Resources: https://doncashpodcast.com/podcast/secure-act-update-heading-into-2020/

Today's Rundown:

0:27 – Christmas time is here!

1:52 – In the News: Congress passed a $1.4 trillion spending bill in December to avert a government shutdown. Included in this was the SECURE Act. Can you give us an update on what this means to listeners.

3:25 – We reviewed the SECURE Act earlier this summer but there hasn’t been much to update since then.

4:12 – The 3 biggest changes in the SECURE Act

5:20 – Some important notes to know.

6:56 – Don sees some big problems potentially.

7:48 – Will everyone have to deal with these issues?

9:00 – The current tax code reverts in the year 2025 so the next few years are important.

10:21 – Cash Connection: I keep getting these fake emails from people claiming to be Nigerian bankers wanting to send me money. I know it’s fake but my friend opened an email that looked to be from American Express and ended up opening a link to a virus. How can I protect myself from all the scams out there?

15:25 – Getting to Know Don: Do you have any new year’s resolutions?

It was recently announced that the Medicare Part B monthly premiums and the annual deductible would be higher in 2020, so how is this amount calculated? We turn to Don Cash to explain Medicare premiums, IRMAA surcharges, and how it breaks down into different tiers.

Show Notes and Additional Resources: https://doncashpodcast.com/podcast/understanding-2020-medicare-premiums-and-irmaa-surcharges/

On This Episode:

0:32 – We made it through Thanksgiving (maybe a little heavier).

1:43 – In the News: It’s IRMAA Medicare season and more people are getting letters saying they’ll be paying a surcharge. Don explains.

6:16 – The five different tiers for surcharge levels.

7:44 – Where do people run up against these charges?

9:58 – Final thoughts from Don on IRMAA

11:39 – Time for Cash Connection

11:50 – Mailbag question: I’m in my mid-50s and I don’t have much saved for retirement at all. But I own my own business and I’m having a huge year so I’ll have some profits to invest. Can you give me some places to start?

14:11 – Getting to Know Don: What is your ideal way to relax after a long day or week of work?

Myths, rumors, and misunderstandings are pervasive in the world of Social Security. On this show, we’ll look to clear up the most common misunderstandings about Social Security, provide some background on the program, and forecast possible changes that could be coming.

Show Notes and Additional Resources: https://doncashpodcast.com/podcast/common-misunderstandings-when-it-comes-to-social-security/

On This Episode:

0:56 – Happy Thanksgiving!

2:23 – In the News: Social Security announced benefits would increase by 1.6% to cover cost of living. What are some of the common misunderstandings around Social Security?

3:37 – Here are the five most common misconceptions that Don hears.

4:25 – Let’s talk about the idea that Social Security is going broke. It’s been around since the beginning.

8:20 – How Social Security works exactly.

10:54 – Here’s how the ages break down for claiming Social Security.

13:58 – A fact about cost of living increases and how it all began.

14:45 – How we work with clients to determine the best strategies to maximize benefits.

15:31 – Most people do need to pay taxes on their Social Security benefits.

16:02 – How has the current program evolved over the years and is it going broke?

16:56 – 5 ways that Social Security could change to generate more money.

19:35 – Getting to Know Don: Any new renovations going on at your house?

Americans believe it’s important to have a will, but less than half have one. Not only do many Americans lack a basic will, they often lack very important legal documents. On part two of this series, Don will discuss how his family handles these documents and the process of getting his children updated.

Show Notes: https://doncashpodcast.com/podcast/how-legal-documents-impact-your-finances-and-retirement-part-2/

Today's Rundown:

0:36 – Baseball season not going any better for Don than football.

2:05 – What we talked about during part 1 of this series.

2:45 – Don fills us in on how the estate planning is going for his family.

3:24 – Don had to make changes with his children getting older.

4:03 – Typically, the husband will name the wife as the executor of the will.

4:53 – Where do your children’s spouses fit into the plan?

5:33 – Remember that not all of your assets get passed on through the will.

6:25 – Here’s how Don got to thinking about getting his adult children to think about legal documents.

8:50 – How often should people be updating these types of documents.

10:36 – Cash Connection time

10:40 – Mailbag question: I keep hearing that if President Trump is impeached, the stock market will crash. What do you think I should do?

11:57 – Trivia Question: Who are the only two presidents to be impeached?

15:00 – Getting to Know Don: Any television shows that you’re into right now?

Americans believe that it is important to have a will, but less than half have one. Not only do many Americans lack a basic will, they often lack very important legal documents like a power of attorney, an advanced healthcare directive (living will) or HIPPA authorization forms. We will begin this discussion in part 1 of 2.

On this episode:

1:30 – Don Cash, a NY Jets fan, shares what the acronym J-E-T-S stands for in 2019.

2:26 – A recent survey found most Americans find it’s important to have a will but less than half actually have one. Why is that?

3:45 – We’re creatures of habit so if no one is talking about these things, they are easily ignored.

5:42 – What are some reasons you need to update your legal documents?

7:50 – A couple more things people should think about: gifting assets, protecting the children, clear up conflicts.

9:07 – For many folks, the 401k, IRA, or life insurance is the biggest asset and it doesn’t get passed on based on will. Instead it goes off beneficiary form.

9:40 – It’s a tough issue to tackle which is why we work to help clients on these circumstances.

10:43 - Not only do we avoid this for our own finances, but we also don’t help our children.

12:02 - Mailbag question: I have to pay an extra premium for Medicare because my income is too high. My wife passed away a few years ago but my income hasn’t really changed. Am I stuck with this penalty?

14:02 - There is an appeal you can file if the surcharge is due to 1 of 8 life-changing events.

Medicare Surcharge and Appeal Form: https://www.ssa.gov/forms/ssa-44-ext.pdf

Caring. Com Estate Planning Survey:https://www.caring.com/caregivers/estate-planning/wills-survey/

Show notes: https://doncashpodcast.com/podcast/how-legal-docume…etirement-part-1/

You’ve likely never thought about it before, but there’s a lot we can learn about retirement from flying. Yes, many of the same processes and principles that are used by pilots and planes can be applied to our financial plan. We’ll take you through those on this episode.

Today's rundown:

1:08 – Setting up today’s conversation on flying and retirement.

2:45 – The first thing pilots do is log their flight plan.

4:57 – Turbulence affects people in different ways.

7:28 – Even pilots have help along the way.

8:31 – Going through the different phases of investing.

12:46 – Mailbag question: I’m retiring in six months and I’m wondering what will happen if we have another crash before I get to the finish line. Do you think I’ll be ok?

15:54 – Getting to Know Don: What’s a movie or play you’ve seen recently that you really enjoyed?

Get the full show notes and additional resources by visiting our website here: https://doncashpodcast.com/podcast/what-can-we-learn-about-retirement-from-flying/

We read and hear a lot about interest rates as the move up and down, but how much do you know the rates and how they’re established? Find out how the Federal Reserve operates and what the changing rates mean for the economy and your finances.

Today's rundown:

2:00 – We’re talking interest rates today.

2:17 – It’s amazing how much influence the Federal Reserve has on the market today.

2:38 – Don asks a trivia question.

4:04 – How the Federal Reserve controls short-term interest rates.

5:24 – Why lower the rates now?

6:02 – The Federal Reserve has this basic objective.

6:38 – Show does this affect the consumer?

7:58 – Here’s the bigger story though.

8:54 – There’s been some demand for long-term bonds.

11:16 – Can the inverted yield curve predict a recession?

12:32 – Cash Connection question: I own my own business and haven’t paid much into Social Security even though I’ve had a nice income. Should I be worried?

16:42 – Getting to Know Dan: What universally well-known movie have you never seen?

To get the full show notes and additional resources, go here: https://doncashpodcast.com/podcast/what-can-we-learn-from-interest-rates/

The second half of the year can be a great time to evaluate your portfolio and take the necessary steps to get your finances organized. If you don’t know where to start, we’ll give you a checklist of items you should be focused on during the 3rd and 4th quarter.

Check out the full show notes by clicking here.----more----

Today's rundown:

1:20 – What we’ll talk about today in 3rd & 4th quarter planning.

1:36 – Item 1: IRA and Roth IRA planning. Opportunity to evaluate your accounts and see if you can move money into Roth.

3:44 – Item 2: Charitable donations. Consider donating out of your IRA.

5:30 – Item 3: Update your retirement income estimates.

5:49 – Item 4: Rebalance the portfolio if needed.

6:23 – Item 5: Planning for taxes.

7:18 – Item 6: Make sure your legal documents are updated.

9:41 – Cash Connection, Question 1: What kind of annual return should I be seeking on investments in my retirement?

10:42 – Don shares a story about a recent experience where technology wasn’t front and center.

13:27 – Getting to Know Don: If time and money wasn’t an issue, what hobby would you take up?

15:14 – Getting to Know Don: Who is someone that always makes you laugh?

A recent dip the in the stock market has stirred up some concern and worry amongst investors. Is it a sign that something worse might be up ahead or is this just another bump in the road?

Check out the full show notes by clicking here. ----more----

Today's rundown:

0:39 – Volatility returns to the market once again.

1:36 – Many of the same issues are lingering.

2:27 – There are still some positive indicators.

3:26 – This same phrase keeps coming up: “It’s different this time.”

3:59 – What does history tell us

7:33 – Should we be less worried than many people want us to be?

8:46 – If you diversify correctly, you can avoid these big losses.

10:07 – Technology has things worse.

10:42 – Don shares a story about a recent experience where technology wasn’t front and center.

13:10 – How an advisor can help guide you through the volatility and the concerns you have.

14:34 – Cash connection time on the show.

14:45 – Question #1: I’m being forced into early retirement at 57 from the state. I’ll have my pension but do I need to find another job since I’m too young for Social Security and IRA withdrawals.

15:11 – How health insurance fits into early retirement.

From a man walking on the moon half a century ago to self-driving cars by the end of the year, technology is always changing. So should our investment strategy change alongside it? It's a question we can't avoid anymore so we'll dive into it.

To see the full show notes, click here. ----more----

Here's the rundown for this episode:

2:39 - In the News: Ford claims it will have 100 self-driving cars on the road by the end of the year.

5:04 - Advanced safety features of a car are another form of technology being updated in cars.

6:16 - Broad diversification allows you to benefit from the movement of technology.

8:29 - Getting to Know You: What do you remember from the summer of ‘69?

12:53 - Technology has come a long way.

14:55 - Cash Connection: Forced into early retirement but too young for Social Security. Should I get another job?

15:47 - Look at your expenses, but don’t be afraid to spend your non-IRA dollars.

The SECURE Act passed in the House and brought with it 29 provisions that would change some of the decisions and actions you’ll take when planning for retirement. What are some of the top things you should be aware of? We'll discuss that in this episode.

Check out the full show notes by clicking here.

Take a look at what you can expect:

2:05 - One of the provisions in the SECURE Act would raise the required minimum distribution age to 72.

7:08 - The new bill removes the age limitation on IRA contribution.

8:18 - The option for a stretch IRA for heirs has been removed, which is one of the negative sides of the bill.

11:21 - Contact your senators to let them know about your thoughts, especially about the stretch IRA being removed.

12:20 - Getting to Know You: What is Don’s greatest accomplishment?

15:15 - Cash Connection: Are all long-term care insurance policies so expensive?

The term “fake news” has become synonymous with the political climate of the past few years. But the phenomenon has spread to other parts of our culture as well. What about fake news in the financial space? We’ll look at some recent news headlines to see if they qualify to be labeled as “fake news”.

Major US stock indexes fell more than 6% in May, so we'll take a quick look back at last month and discuss what brought about these changes. And to continue with the news topics, we'll talk about recent updates on Brexit, and get Don's opinion on how we should take all of these news events into account in regards to our financal plans. We'll close out with an email question about the pros and cons of gifting assets.

If you’re heading out on a road trip this summer, there’s a long checklist of items that you want to be sure you haven’t forgotten. And in retirement planning, some of those exact same items need to be addressed. Let’s look at some of the items that should appear on both your road trip checklist and your retirement planning checklist...

When it comes to retirement planning, it's easy to make a mistake that you can't undo. And oftentimes, it just comes down to the fact that you don't know what you don't know. So this week, Don sheds some light on the top 5 mistakes he has seen people make throughout the planning process.

Outstanding student loans currently total 1.5 trillion dollars, and according to a recent news event they may have a hand in our next major recession. We'll find out Don's thoughts on the debt crisis, and how we should take this into account when planning for our children and grandchildren's future college education.

On this first episode of the "Your Money & Your Life" podcast, we'll get to know Don a bit better and find out how his background in the field has shaped his investing and holistic planning philosophies. After that, we'll dive into our first topic. Don will help us unpack the key points of the new tax code, and we'll learn how the upcoming election may affect both our future tax rates and our retirement accounts.

Coming soon you'll be able to get great financial and retirement planning guidance from Certified Financial Planner Donald Cash in Red Bank, NJ on his new podcast, Your Money & Your Life. You'll get to hear two new episodes each month as Don helps you navigate the complexities of the financial world.

The first episode launches in April and don't forget to subscribe on iTunes and your favorite podcast apps.