Financial Foursight
28 episodes - English - Latest episode: almost 4 years ago - ★★★★★ - 5 ratingsWelcome to Financial Foursight. This podcast is hosted by four fee-only CFP Professionals to help consumers understand the financial industry. Each provides candid insights on topics that matter.
The podcast is for general information and entertainment purposes only and should not be considered investment advice. Nothing contained in this podcast constitutes tax advice, a recommendation for purchase or sale of any security, or investment advisory services. The opinions expressed by the hosts and guests are solely their own and not representative of any of their respective firms.
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Episodes
#28 Real Economy vs. Stock Market, PPP Abuse, and 2020 Thoughts
June 05, 2020 09:00 - 39 minutes - 36.2 MBIn this episode, the guys discuss a litany of topics but finish with some of the best thoughts that have ever been shared on a podcast episode. They kick off the episode talking about the disconnect of the market and the real economy and why that is something that is normal. Share a tweet of the week from @mkobach that talks about borrowing ideas from other industries to bring that cross-pollination of ideas. https://twitter.com/mkobach/status/1266108989189902336 Discuss the idea of finan...
#27 - What's Your Investment Philosophy?
May 22, 2020 15:46 - 1 hour - 46.2 MBOn this week's episode, the guys discuss big picture investment philosophy. Morningstar Long View: Inertia Can Actually Be A Helpful Thing: https://www.morningstar.com/podcasts/the-long-view/53 Setting the Record Straight on Asset Allocation https://blogs.cfainstitute.org/investor/2012/02/16/setting-the-record-straight-on-asset-allocation/
#25 - Where are we spending money? | Do I Invest Today? | Wounds & Scars from COVID-19
April 24, 2020 19:18 - 38 minutes - 35.7 MBIn this episode Colin, Ian, and Isaiah discuss the following: The New York Times article on where consumers are spending and where they are slashing consumption in today's market. https://www.nytimes.com/interactive/2020/04/11/business/economy/coronavirus-us-economy-spending.html We have a lively debate on investing today: Do you continue as is? Would you put a big lump sum of money in the market? What has changed and what hasn't changed? Finally, we discuss an article by Morgan Housel on...
#24 COVID-19 & Long-term Impacts | Lessons Learned
March 22, 2020 15:46 - 29 minutes - 67.5 MBIn this episode, we talk about the biggest story of recent memory, which is COVID-19. We discuss the WFH (work from home) movement going to change significantly how we all work in the future? How we all work virtually and lessons learned. The tweet of the week is one from Ryan Holiday (@RyanHoliday) and what he has learned from Tim Ferriss (@tferriss) - https://twitter.com/RyanHoliday/status/1240345479331950592 Batch Activities Together Treat Everyone Like They Can Put You On The Front Pa...
#23 Market Efficiency | Coronavirus | Uses of Cash Value Life Insurance
March 06, 2020 02:15 - 34 minutes - 78.1 MBIn this episode, we talk through the quickest 10% loss in stock market history. Prompting the question are markets efficient. Colin, Dwight, Ian, and Isaiah all weigh in. The impact of the coronavirus to our lives, investing, and financial planning. Tweet of the Week - WCI on Coronavirus https://twitter.com/WCInvestor/status/1234341853756973057?s=20 Isaiah brings up a topic that was a snarky comment from LinkedIn about Cash Value Life Insurance, and it's uses. We debate and discuss and sh...
#22 CPA or DIY | Lawful Good | The Tax Mistakes You Can Avoid
February 18, 2020 13:29 - 31 minutes - 71.5 MBIn today's episode, we discuss when to hire a tax professional and when it might make sense to do it yourself. How to think about paying for tax help and when it can be a lifesaver. Dwight dives into a lot of detail, given his CPA and tax background. VITA - Free Tax Prep for those that qualify through the IRS - https://www.irs.gov/individuals/free-tax-return-preparation-for-you-by-volunteers AARP - Free Tax Help - https://www.aarp.org/money/taxes/info-2020/get-free-tax-filing-help.html Tw...
#21 Life Planning, Kobe's Legacy, and Improving Communication
February 05, 2020 15:04 - 29 minutes - 26.8 MBIn this episode, Colin, Dwight, and Ian dive into Ian’s trip and talking more in-depth about life planning and what it is and why it matters to you. How does life planning help people better align their money with their values and goals in life. Ian shares his video of the trip below. https://www.openworldfp.com/vlog/65-2020-01-23.html https://www.kinderinstitute.com/ Tweet of the Week – Kobe’s Legacy Investing or Basketball https://twitter.com/carlquintanilla/status/1221809757666914305 ...
Habits > Goals for 2020, The Perfect Formula for Dinner with Friends, and the SECURE ACT
January 11, 2020 14:19 - 33 minutes - 75.8 MBWhy having habits like investing allows you to adjust your lifestyle and compound the results you ultimately want over the longer term. How goal setting is not the way to drive change in your life regardless of the goal. You must set-up habits to help allow them to take over when motivation fails you. We share our lists of items we’d like to accomplish in 2020 and the things we are working on personally. http://nautil.us/blog/the-problem-with-smart-new-years-goals https://jamesclear.com/...
#19 The Family Fable | Happiness Mentality | Tax Efficiency in Investing
December 06, 2019 13:25 - 26 minutes - 61.5 MBIn today's episode, the guys discuss a family fable and why it's important to not forget why you truly are doing things and why we often overlook those important factors. S/O to Jeremy Walter for the post. https://calibratingcapital.com/a-50-family-fable/ The Tweet of the Week - https://twitter.com/DanaSchwartzzz/status/1196130242139578370 "Here's a thing I've learned: The terrible thing about [publishing a book/getting your dream job/starting a new relationship] is you wake up the next mo...
#18 Client Referrals, Daily Routines, and Thanksgiving
November 22, 2019 13:56 - 24 minutes - 55.5 MBOn this episode, Colin, Dwight, Ian, and Isaiah discuss the following Colin's recent video on asking a financial advisor for client referrals when doing due diligence. Colin's Post - https://twitter.com/advizewealth/status/1190265474153623552?s=20 Daily Routines of famous creatives over time - https://twitter.com/danielcrosby/status/1193890527512543232 & https://podio.com/site/creative-routines Finally, tying in how Thanksgiving and how it applies to financial behaviors and planning fro...
#13 Mortgages, Refinancing, and the Yield Curve? | A Flawed Investment Measure
November 11, 2019 18:21 - 29 minutes - 68.4 MBIn today's show we chat on an article looking at why people are refinancing mortgages with the yield curve inversion. https://blairbellecurve.com/yield-curve-inversion-in-the-mortgage-market/ The Tweet of the Week: https://twitter.com/behaviorgap/status/1164671595522056192 The flawed investment measure that is commonly shown is from the Dalbar study. We discuss a recent article and others discussing the issues with how the data is the presented. https://www.advisorperspectives.com/art...
#17 Finding Meaningful Work, Growing Your Income, and Annoying Aspects of an Industry
November 11, 2019 14:43 - 26 minutes - 60 MBOn today's show, Colin, Dwight, Ian, and Isaiah discuss why finding meaningful work is so important to our generation. What is passive income and how to grow your personal income? Finally, they all discuss the annoying sometimes true aspects of the financial services industry, Links: https://moretothat.com/pointless-job/ https://www.amazon.com/Start-Why-Leaders-Inspire-Everyone/dp/1591842808/ref=tmm_hrd_swatch_0?_encoding=UTF8&qid=&sr=
#16 How the financial advice industry is shifting to a profession
October 28, 2019 14:46 - 23 minutes - 21.7 MBIn this episode, Dwight, Ian, and Isaiah discuss the following: The shift of fee models in the financial advice world and why that’s a good thing. The profession is moving from just sales. The idea of being a specialist as well. Tweet of the Week: The problem with social media trolls and direct messaging nasty-grams. Do better! Finally, why choosing a financial advisor based on an awards list is often not the wisest choice. Ensure you understand how these awards are given, and the inherit...
#15 Our Biggest Financial Mistakes
October 11, 2019 15:30 - 38 minutes - 88.3 MBOn today's show, Colin, Dwight, Ian, and Isaiah all share their biggest personal financial mistakes in hopes you can learn from their errors. Colin's - Learned about being a 1099 employee that doesn't pay quarterly taxes...OUCH! Dwight's - Buying a motorcycle with a credit card Ian's - Using a portion of an inheritance to buy a new car. Joining a network marketing company. Isaiah's - Investing by buying a story stock, without having any "true" knowledge on the company or why you should...
#14 The American Dream Has Changed | Lifestyle vs. Status | Location Arbitrage
September 24, 2019 22:48 - 25 minutes - 59.2 MBIn this episode, Colin, Dwight, Ian, and Isaiah are all together to chat on the topic of The American Dream per an article that Dwight found. https://www.wsj.com/articles/your-parents-financial-advice-is-kind-of-wrong-11568367000 Tweet of The Week: https://twitter.com/Wealth_Theory/status/1166210963277848576 The final topic is one on the high cost of living areas vs. lower cost better know as "Location Arbitrage." https://www.kitces.com/blog/weekend-reading-for-financial-planners-sep-14...
#12 Long Term Care Questions | Scarcity and Branding | Who should get insurance commissions ?
August 29, 2019 20:58 - 33 minutes - 77.3 MBIn today's episode we tackle Long Term Care (LTC) Insurance and the big misunderstanding that are associated with the products. The advances and changes to what's in the marketplace. Why it's important whether it's for you or a family member. The actual amount of most US retirees will spend on LTC. The issues with relying on Medicaid to provide care. https://www.ltctree.com/activities-of-daily-living-and-long-term-care-insurance/ https://www.genworth.com/aging-and-you/finances/cost-of-car...
#11 How societies evolve and improve | S&P 500 or bust
August 23, 2019 12:24 - 26 minutes - 24.5 MBIn today's episode we chat on a piece from Ben Carlson https://awealthofcommonsense.com/2019/08/this-is-what-happens-as-societies-become-wealthier/ Tweet of the Week - https://bpsandpieces.com/2019/07/03/portfolio-appendectomy/ S&P 500 Returns have crushed everything and why the last ten years are not indicative of the past. What's been the last performer in the last 20 years? The answer will surprises you.
#10 Results or Process? | A better way to buy a vehicle
July 25, 2019 18:00 - 23 minutes - 54.8 MBOn Today's show we discuss an article that talks about the "resulting" and the issues that are associated with that thinking. https://www.forbes.com/sites/ryanfrailich/2019/01/25/how-resulting-impacts-your-personal-finances/#3cbb25733ee5 We also discuss a better way to buy a car and how to remove the emotion and poor judgement we all have or will make. https://twitter.com/KaliRoberge/status/1153310198012022786 https://momanddadmoney.com/how-to-negotiate-with-the-dealers/
#9 Financial designations what do they mean? | Is cold calling dead?
July 19, 2019 14:49 - 25 minutes - 59.4 MBOn today's show we talk about what does the alphabet soup of financial designations mean? CFP®, CFA®, CPA, CPWA, and CDFA + the 100's of others... https://www.finra.org/investors/highlights/3-things-know-about-financial-designations https://www.finra.org/investors/professional-designations https://www.wsj.com/articles/SB10001424052748703927504575540582361440848 CPA: https://www.finra.org/investors/professional-designations/cpa CFA: https://www.finra.org/investors/professional-designa...
#8 I'm never retiring! | Your Money History | Privacy Concerns?
July 17, 2019 14:58 - 28 minutes - 26.2 MBOn today's show we discuss How you were raised, how money was treated in your family, and your parent's job affect how you view your finances. Article Link: https://www.forbes.com/sites/riankadorsainvil/2019/06/28/why-we-cant-talk-about-money-without-talking-about-culture/#5b1cf3dd5e8d Isaiah's Podcast Recommendation Financial Education for Family's: https://podcasts.apple.com/us/podcast/frazer-rice-financial-education-for-all-net-worths/id1331238711?i=1000430137877 The issues with o...
#7 Crappy Car = Wealth? | Empathy | Diversifying Your Income Sources
June 28, 2019 17:37 - 29 minutes - 67.9 MBOn today's show we talk about the MarketWatch article about by driving a older car you are on the "road to riches" Article Link https://twitter.com/beyondfinances/status/1140665525556645897 Tweet of the Week Colin brings up a question he continues to hear which is, "I need to diversify my income sources." We discuss why and how this makes sense and when it doesn't.
#6 Happiness & Money | You take the Stairs | The boring BIG news
June 14, 2019 11:00 - 24 minutes - 57.1 MBOn today's show Ian shares an articles from fellow XYPN member David Rae: Money and Happiness & from Nature: Happiness, income satiation and turning points around the world https://www.forbes.com/sites/davidrae/2019/06/10/lgbt-community-happy/#37cc3ebf5fa8 https://www.nature.com/articles/s41562-017-0277-0 Isaiah's Tweet of the Week - You are taking the Stairs Tim Ferriss & Julie Rice The boring big news out from the Security and Exchange Committee's Regulation Best Interest - Why it ...
#5 Financial Planning for the Future | What’s Reported vs. What Matters in the Media| Free Dinners?
June 07, 2019 18:19 - 29 minutes - 68.5 MBColin and Ian talked about this trip to FPA NextGEN and the future of financial planning. What they've learn and how the industry of financial advice is changing. Dwight's tweet of the week going meta with the talking about, " What we die from, what we worry about dieing from and what the media tells us we die from. " Link: https://twitter.com/iand/status/1134113358758776832 Isaiah talks about a recent article from Rick Ferri talking about his experience "Free" Retirement Dinner and th...
#4 When to keep Cash vs. Invest | Building blocks of good investor behavior | Maximizing Employer Benefits
June 04, 2019 00:49 - 29 minutes - 67.4 MBIn this episode we chat about when does holding more cash make sense? When is it a poor decision? Did you know that the best performing asset class in 2018 was cash? Tweet of the Week: Dr. Daniel Crosby's crack at trying to decipher the fundamental building blocks of good investor behavior. Accept Responsibility Embrace Pain Develop Patience Welcome Uncertainty Relish Simplicity Measure by Purpose Why do employer benefits get so overlooked by financial advisors? The items to lo...
#3 The Buy vs. Rent Debate & Is Bitcoin a Buy?
May 24, 2019 01:45 - 37 minutes - 86.1 MBIn this episode we discuss is buying a home better than renting? Is a house an investment? Why we all three own homes. https://www.usatoday.com/story/money/columnist/2018/03/04/hear-you-but-your-home-still-lousy-investment/388540002/ https://twitter.com/charliebilello/status/1102316373500407808 https://www.businessinsider.com/reasons-not-to-buy-a-home-financial-planner-2018-7 https://www.businessinsider.com/cost-to-buy-a-house-in-every-state-ranked-2018-8 Tweet of the Week: Financial ...
#2 Uber IPO & IPO Investing | Journaling before bed? | Wealth Survey Results - What's Rich?
May 17, 2019 01:00 - 27 minutes - 62 MBWarning: Game of Thrones Spoiler mentioned On this week's show we talk about: Uber's IPO and IPO's in general. Why they often aren't a purchase worth making. The challenges of investing at the IPO and more. Resources: https://awealthofcommonsense.com/2017/03/the-downfall-of-the-popular-ipo/ & https://www.investopedia.com/ask/answer/12/ipo-lockup-period.asp Tweet of the Week: https://twitter.com/justglew/status/1104648009415966721?s=12 Schwab's Modern Wealth Survey: https://www.bl...
#1 Investing at all-times highs | Is there differences from Financial Freedom & Financial Independence? | Schwab's New Financial Planning Offering
May 10, 2019 01:59 - 31 minutes - 41.4 MBWe chat about the following Investing at all-time highs Why the investment news is not a positive for your investment allocation The boring nature of an asset allocation portfolio Is there differences from Financial Freedom & Financial Independence? Why Schwab's new offering is good for advisors and consumers Show Notes at https://coverweg1.wixsite.com/financialfoursight Tweet of the week article https://www.physicianonfire.com/financial-independence-versus-financial-freedom/ Coli...
Welcome to Show!
May 09, 2019 13:23 - 2 minutes - 6.22 MBTired of boring financial podcasts? So were we...so we decided to have a little fun and create something that provides content that someone can learn from and still enjoy. Take a listen and let us know your thoughts at [email protected] or check out https://coverweg1.wixsite.com/financialfoursight To follow us on Twitter: Ian Bloom - https://twitter.com/IanHBloom Dwight Dettloff - https://twitter.com/WindingTrailFin Isaiah Douglass - https://twitter.com/IDFinancial ...