It's All About the $Money, Honey!
223 episodes - English - Latest episode: 26 days ago - ★★★★ - 3 ratingsIt's the show where fun meets finance. Join The Financial Diva, Victoria Woods, and the King of Finance, Damon King, each week for tips on how to Rock Your Retirement!
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Episodes
Episode 66: Year End Financial Checklist
November 24, 2021 00:00 - 55 minutes - 38.4 MBAs we near the end of another year, it's a great time to review the financial moves you can still make by December 31 to improve your financial situation. It's also a great time to consider how you your retirement assets are positioned for the future. In this episode, we share some of the key tax moves you can still make before year end, how to take advantage of open enrollment period, some major changes coming to Medicare in 2022, and when the next recession might happen.
Episode 65: Celebrating Our Veterans
November 15, 2021 00:00 - 56 minutes - 38.5 MBIt's November and while our thoughts naturally turn to the holiday season, we must also never forget Veteran's Day. The women and men throughout history that have served our nation faithfully deserve our thanks and respect. They also deserve to know the unique financial benefits available to them. In this episode, we visit with our special guest Joe Bryant, founder of Ultrathin Ribbons and Medals and a veteran of the U.S. Air Force. Joe shares his amazing experiences as a veteran an...
Episode 64: Keys To The Financial Future
November 08, 2021 00:00 - 55 minutes - 38.4 MBAs we near the end of 2021, it's only natural to begin thinking about the year to come. What are the key factors and trends that will influence the future of the market and economy in he United States and around the world? Wil we see a recession in 2022? Why will women dictate the direction of the market? Could the next few years see the most active period for Roth conversions we've seen in a while? Why could proper estate planning be more important now than ever before?
Episode 63: Minerals, Farms, and Heirs, Oh My!
October 18, 2021 00:00 - 55 minutes - 38.4 MBIt's complicated enough passing on easy to value assets like retirement accounts, precious metals, houses, and the like to your heirs. What about harder to value and more complex assets like family farms and mineral rights? There are right and wrong ways to pass on these valuable assets to your loved ones. In this episode, we visit with estate planning attorney Richard Winblad to discuss key things you should consider when leaving farms and minerals in your estate plan. Plus, examin...
Episode 62: Questions To Ask When Hiring A Retirement Advisor
October 04, 2021 00:00 - 55 minutes - 38.4 MBThe financial decisions you make up until retirement are largely been about how to manage your 401(k) and your budget. However, in retirement, the number and complexity of decisions and questions increases dramatically. When should you apply for Social Security? Which expenses will Medicare cover, and which will it not? Should you keep your life insurance or drop it and get long term care insurance instead? How should your portfolio change? Will you run out of money? Not just any fi...
Episode 61: Dealing With Life Changes
September 20, 2021 00:00 - 55 minutes - 38.4 MBIt's said that the only guarantees in life are death and taxes. Change is another guarantee. Life is ever-changing and the decisions you make need to adapt to these changes. This means the plans you make need to adapt as well. In this episode, we share examples of how we help our clients' financial plans adapt and change as their lives change.
Episode 60: More Money = More Problems
September 13, 2021 00:00 - 55 minutes - 38.4 MBWhen you become a Millionaire, more opportunities to grow your wealth will come your way. Of course, becoming a Millionaire can also present more challenges. It's just a fact of life that as your wealth grows, there are more things you have to handle. Protecting your wealth, minimizing taxes, managing cash flow, leaving a legacy, and analyzing new investment opportunities are all part of being a Millionaire. In this episode, to give you some ideas for handling your wealth, we share ...
Episode 59: Real Question From Real Clients
August 30, 2021 00:00 - 55 minutes - 38.4 MBWe get questions from everywhere. Listeners of our radio show and podcast. Viewers of our television show. Guests in our educational courses and webinars. The lion's share of questions come from our clients. This week's episode features real questions from real clients. How should I handle an inheritance to be more tax efficient? Why did my Medicare premiums increase? Why could now be a good time for a Roth conversion? What's the benefit in delaying my Social Security? Plus, how you...
Episode 58: Control The Controllables
August 24, 2021 00:00 - 55 minutes - 38.4 MBThe current state of our world has millions of people on edge. If you're feeling a little out of sorts, you definitely are not alone. You've likely heard family and friends describe feeling unhappy, anxious, or afraid. It feels as though you have no control over anything. It's at times like these that you do the only thing you can do - control the controllables. One thing you have total power over is your money. How to save it. How to invest it. How to spend it. In this episode, we ...
Episode 57: The Evolution Of Investing
August 17, 2021 00:00 - 55 minutes - 38.4 MBInvesting used to be relatively simple with few options. Choose a few mutual funds, focus on growth, and let it ride. Today, we have instant access to an almost limitless amount of information. Yet, it's still difficult making good investment decisions. We've gone from having too little information and guidance to having too much, causing confusion, anxiety, and frustration. In this episode, special guest, Frank Maggiora of AssetMark, Inc., one of the largest investment management p...
Episode 56: How To Be A Terrible Investor
August 09, 2021 00:00 - 55 minutes - 38.4 MBWhat decisions would you need to make to earn the worst possible return in the stock market? That's probably not a question anyone has ever asked you, or that you have ever considered. However, it could be the key to avoiding some of the biggest mistakes investors make. It's called Inversion Thinking. If you can identify the worst decisions, you can take steps to make the opposite ones. In this episode, we share how ignoring taxes, timing the market, chasing big returns, and having ...
Episode 55: Is The Coronavirus Recession Over?
August 06, 2021 00:00 - 6 minutes - 4.61 MBIn this short podcast, Damon King, CFP® explores whether or not the economic recession caused by the COVID-19 pandemic is over and, if so, what evidence is there to suggest that it's true.
Episode 54: A New Retirement Law That Could Impact You
July 30, 2021 00:00 - 8 minutes - 5.62 MBIn this short podcast, Damon King, CFP® discusses the Securing A Strong Retirement Act that is currently being debated in the Senate and House of Representatives. If passed, the new law would have significant impacts on retirement planning, and the way you save and use your money.
Episode 53: Managing Cash Flow and Tax Efficiency
July 30, 2021 00:00 - 55 minutes - 38.4 MBWhen you're retired, where will you live? How much will it cost? What insurance will you need? How will your portfolio change? Will you need to update your Will or Trust? As important as these questions are, you can boil retirement planning down to two key factors - cash flow and tax efficiency. Everything you want to do in retirement will either be helped or hindered by your cash flow, and that cash flow will be taxed. If you get these two things right, most everything else falls i...
Episode 52: Two Bold Predictions
July 26, 2021 00:00 - 55 minutes - 38.4 MBAt the start of 2021, we made two bold predictions about the market. The first was that it would continue growing through the first quarter then slow down and level out as we went through the summer. The second was that we would then see the market pick up steam entering the fourth quarter and end the year strong. In this episode, we examine how we're doing on those predictions. We also share why you might want to limit your exposure to European stocks in the short term.
Episode 51: Overcoming Barriers To Saving
July 19, 2021 00:00 - 55 minutes - 38.4 MBPeople procrastinate in saving for retirement for a variety of reasons. It seems overwhelming, work gets in the way, they don't feel confident in their decision making, etc. It's different for everyone. However, a recent survey by Charles Schwab identified some common factors that cause people to procrastinate MOST in saving for retirement. In this episode, we'll reveal the key factors that might be paralyzing you from taking action to save and steps you can take to overcome them. ...
Episode 50: Building and Keeping Wealth
July 12, 2021 00:00 - 55 minutes - 38.4 MBWhether it's reading more books, watching less television, or simply staying out of debt, millionaires practice great wealth building habits. Something else millionaires do well is maintain their wealth after they build it. After all, it's not about what you earn, but what you keep. In this episode, we explore how millionaires preserve their wealth, including 6 ways they are using life insurance, unique tax deferral and avoidance strategies, and simple ways to reduce family fighting...
Episode 49: 5 Retirement Myths Too Many People Still Believe
July 06, 2021 00:00 - 55 minutes - 76.9 MBEven if you're already well on your way to saving for retirement, you might not know exactly what it takes to get there. You are not alone. Fidelity Investments surveyed 1,200 Americans who were not yet retired, but had at least one retirement account. What they found was concerning – too many Americans have a lot of misconceptions about retirement, causing them to make poor decisions. In this episode, we share 5 retirement myths including how much you should have saved, how much yo...
Episode 48: It's A Woman's World
June 21, 2021 00:00 - 55 minutes - 38.4 MBThere are many factors that determine the direction of the economy. Interest rates. Inflation. Politics. Taxes. However, there is another factor that isn't as apparent or easy to measure. Women. Women control most of the wealth in the United States and make most of the purchasing decisions. Women aren't just part of the economy. They ARE the economy. In this episode, we explore the reasons women are better investors, the unique financial challenges women face, and how men can use the...
Episode 47: Summertime Blues?
June 14, 2021 00:00 - 55 minutes - 38.4 MBIt's Summertime and the livin' may be easy, yet, the retirement questions keep on coming. In fact, we probably get more questions in the Summer than at any other time because people have more time on their hands to think and wonder. In this episode, we share more of the best questions we've received from Clients, listeners, and fans of our television series, including about Social Security, taxes on selling a home, and how to use hedging strategies in your investment portfolio.
Episode 46: 13 Point Wealth Management Inspection
June 07, 2021 00:00 - 55 minutes - 38.4 MBEveryone understands that purchasing a vehicle is not difficult. It's all the expense and maintenance after the purchase that guarantees it will start every time you need it. The same could be said of your retirement plan. Just putting it into place isn't enough. It requires ongoing maintenance, and sometimes expense, to ensure it's ready to go when you are. In this episode, we share a portion of our 13 Point Wealth Management Inspection designed to help you keep your plan for retire...
Episode 45: Clearing Up Annuity Confusion
June 01, 2021 00:00 - 55 minutes - 38.4 MBOne of the biggest questions we get from Clients and listeners of our show is "What are my options for protecting myself from market losses?" One way a lot of people choose to protect themselves is with an annuity. But, what type of annuity? There are many different options available, which leads to a lot of confusion, anxiety, and frustration. In this episode, we take a look at your annuity report card: Which type do you own? Is it built for protection or growth? How does it earn in...
Episode 44: Questions, Questions Everywhere
May 24, 2021 00:00 - 55 minutes - 38.4 MBSince the start of the COVID-19 pandemic in spring 2020, life has been challenging for everyone. However, signs of normal life are returning. Businesses reopening, travelers on airplanes, masks coming off faces. Still, there is much uncertainty. Fears of rising inflation, interest rates, and taxes have investors on edge, worried that the economic and market boom we're seeing now will fall apart. In this episode, we share some of the most common questions we've received from clients a...
Episode 43: Tax Avoidance Is Not Illegal
May 17, 2021 00:00 - 55 minutes - 38.4 MBIf you've ever traveled to Alcatraz Island, you likely came face to face with Al Capone, or at least the cell he is believed to have lived in during his incarceration. One of the most notorious gangsters in US history, Capone was engaged in many illicit and illegal enterprises. None of these took him. What ultimately did was tax evasion. Yes, it took the IRS to take down Scarface. However, while tax evasion is illegal, tax avoidance and reduction is not. In fact, our voluminous tax c...
Episode 42: One Size Fits You
May 10, 2021 00:00 - 55 minutes - 38.4 MBThink about all the services you rely on to get things done. Auto repair, restaurants, doctors, hair dressers, dry cleaners. While very different, they all have one thing in common. They cater to your very specific needs. Shouldn't your financial advisor as well? In this episode, we highlight why there is no such thing as "One Size Fits All" in retirement planning.
Episode 41: Recovering From Financial Mistakes
May 03, 2021 00:00 - 55 minutes - 38.3 MBThere is no such thing as the perfect retirement plan, because there is no one alive who can plan perfectly. Everyone has made or will make a financial mistake. There is no shame in making mistakes and there are few mistakes you can make that you cannot recover from. The real key is making sure you don't repeat them. In this episode, we share some financial mistakes we've helped people recover from, Social Security myths people believe that lead them to make poor decisions, and 401(k...
Episode 40: 401(k) Tips, Traps, and Tales
April 25, 2021 00:00 - 55 minutes - 38.4 MBYou spend most of your life saving money in an employer retirement plan like a 401(k), 403(b), 457(b), and TSP. Regardless of the numbers and letters, they all have one key thing in common - they are tax deferred retirement plans. You reduce your taxable income today and set money aside to live on later. As popular as these plans are, they can be tricky and confusing to handle. In this episode, we discuss how your 401(k) should change as you get closer to retirement, your options aft...
Episode 39: Are You Emotionally Prepared To Retired?
April 19, 2021 00:00 - 55 minutes - 38.4 MBWhen we ask someone "How prepared are you to retire?", the answer we typically hear is, "I feel like I've saved enough, but I'm not sure." Having enough money to live on is certainly key to surviving retirement. However, it's not the only key, and possibly not even the most important. Are you emotionally prepare to retire? Have you thought about how you'll spend your time? What will you do? Whom will you see and spend time with? In this episode, we share 8 questions you should ask yo...
Episode 38: Is Bad Inflation On The Way?
April 11, 2021 00:00 - 55 minutes - 38.4 MBWith trillions of dollars being spent by our federal government to fight COVID-19 and expectations for significant growth in demand as the economy reopens, fears of rising hyper-inflation are growing. However, how real is the threat of a major spike in inflation in 2021 and beyond? In this episode, we examine what's driving inflation fears, why it might not happen, and how you can prepare for whatever the market and economy might throw your way.
Episode 37: Retirement Tax Traps To Avoid
April 05, 2021 00:00 - 55 minutes - 38.4 MBIt is April, which is usually tax time. Due to the ongoing impacts of COVID 19 and winter storms, the IRS has extended the tax filing deadline for 2021. However, we still have to talk taxes, because they run through everything, everyday. There are a handful of sneaky tax traps that can kill your retirement plans you if you don’t know how they are triggered and how to fight back. In this episode, we explore how taxes and penalties can affect your Social Security benefit, what can caus...
Episode 36: Harness Your Retirement Superpower
March 29, 2021 00:00 - 55 minutes - 38.4 MBDid you know that 60% of retirees in the U.S. do not believe they have saved enough money for retirement? Clearly, the fear of running out of money is the #1 fear of all retirees, including you. This means you will need to tap into your most valuable and powerful superpower - generating income. In this episode, we share why income planning is so important and how to get started with your own plan. Our special guest, Vernon Walker, CPA, will share some important tax deadlines that hav...
Episode 35: When Traditional Investing Is Scary
March 22, 2021 00:00 - 55 minutes - 38.4 MBThe US Government has spent more than $5 trillion to fight the COVID-19 virus. This is equal to 25% of our annual economic output in a year. With so much spending, fears of rampant inflation triggering rising interest rates, and the threat of higher taxes, have a lot of investors looking for alternatives. Where do you invest your money when the stock market is too risky? In this episode, we examine some alternative investments that range from totally protected to more risky that coul...
Episode 34: Is The 4% Rule Dead?
March 08, 2021 00:00 - 55 minutes - 38.4 MBIf you have ever researched or thought about retirement, you have likely run across the 4% Rule. A Rule of Thumb held as iron-clad by many, the 4% Rule states that, in retirement, you should expect to withdraw 4% of your savings in order to live on interest only and preserve principal. However, is it still valid? In this episode, we explore why the 4% Rule may be outdated, why it may be difficult to live on interest alone in, and why you might want to dip into principal in retirement...
Episode 33: Become A Better Investor
March 01, 2021 00:00 - 55 minutes - 38.4 MBThe growth of technology and information has brought the stock market within reach of anyone that wants to access it. That ease of access also has a dark side. It's far more likely you'll make a mistake and live to regret it. We've also seen a rise in identity theft and privacy issues as more information trades hands online. To protect yourself, you need to become a better investor. In this episode, we share key principles for long-term investing from JPMorgan, an alternative to inve...
Episode 32: Love Languages of Money
February 15, 2021 00:00 - 55 minutes - 38.4 MBAs we near Valentine's Day, many of us will be thinking of ways to show that special someone that we love them. Cards, flowers, a special night out. All are love languages we use to show we care. What about the love language of...money? We show the people we care about how much we love them by making sure they are provided for if something happens to us. In this episode, we discuss the love languages of insurance, education, and legacy planning.
Episode 31: Little Orphan 401(k)
February 08, 2021 00:00 - 55 minutes - 38.4 MBIt used to be that people stayed with one employer for most, if not all, of their adult lives. Pension plans were prevalent and retirement income planning seemed easier. Today, pensions have been largely replaced by 401(k) plans, which presents a new problem. We are a much more mobile and flexible society. People change jobs every few years. One of the unintended consequences of this is multiple orphaned 401(k) accounts left with old employers. In this episode, we share some of the r...
Episode 30: Changing The World Through Investing
February 01, 2021 00:00 - 55 minutes - 38.4 MBSince 1995, the concept of socially responsible investing has grown exponentially. Today, it even has its own name: ESG investing. Environment, Social, and Governance investing focuses on companies whose practices and policies help improve our world. Today, $1 out of every $3 invested with professional money managers uses ESG investing, and that number will only continue to grow. In this episode, we explore in more detail what ESG investing is, some ESG funds expected to perform well...
Episode 29: Is Now The Time To Protect Yourself?
January 25, 2021 00:00 - 55 minutes - 38.4 MBYou've heard us say it before - the time to protect yourself is when the sun is shining. The sun is definitely shining on the market right now. With major stock indices at all time highs, it's the perfect opportunity to harvest some gains and protect a portion of your retirement nest egg. In this episode, we share what true protection is, how to use it to your advantage, and how it plays a role in helping you not run out of money.
Episode 28: 7 Mistakes When Hiring a Financial Advisor
January 11, 2021 00:00 - 55 minutes - 38.4 MBBecause there are so many chances to make a mistake in retirement planning, hiring a financial advisor for your retirement is a near necessity. Of course, recognizing that is easy. Doing it is hard. There are so many different types of "financial advisor" to choose from that it's tough knowing which is best for you. Is my advisor a fiduciary? What specialties can my advisor provide? What questions should I even be asking? In this episode, we share 7 common mistakes people make when h...
Episode 27: New Year, New Opportunities
January 04, 2021 00:00 - 55 minutes - 38.4 MBWe've all been waiting for 2020 to make its exit so we can usher in 2021. It's finally happened, bringing with it renewed hope, optimism, and opportunities. In this episode, we'll share 3 financial steps you should take in the first 90 days of 2021, what has us excited for the year to come, and opportunities that will likely present themselves.
Episode 26: Two Interviews You Need To Hear
December 28, 2020 00:00 - 56 minutes - 38.5 MBIn this very special episode of It's All About the $Money, Honey!, we interview two of the most influential business and thought leaders today - Charles Payne and George Ross. Mr. Payne is the host of Making Money With Charles Payne for Fox Business and is a well-known investment and financial professional and commentator. Mr. Ross is best known as one of the lead advisors on the hit reality show, The Apprentice and served as President Donald Trump's personal coach for more than 40 y...
Episode 25: Protect Yourself While The Sun Is Shining
December 20, 2020 00:00 - 55 minutes - 38.4 MBLong-time listeners of our show are accustomed to hearing us say "The time to protect yourself is when the sun is shining." This means the time to think about protecting a portion of your money is when the market is up and the future outlook is positive. With the market at all-time highs, that's where we find ourselves this last week of 2020. In this episode, we share what protection is and is not, why now is a great time to protect some of your money, and how protection impacts your...
Episode 24: Building Your Tax Fortress
December 14, 2020 00:00 - 55 minutes - 38.4 MBWith just a few weeks left in 2020, time is running out on some of the strategies you have for lowering your tax bill for this year. As we like to say, the Tax Code taketh and giveth, so let's examine how to build your Tax Fortress – that monument to tax efficiency and only paying what you must. In this episode, we share simple steps you can take now to lower taxes on your investment accounts, how to take advantage of lower tax rates we are enjoying right now, and two key tax traps y...
Episode 23: Will 2021 Be Naughty or Nice?
December 07, 2020 00:00 - 55 minutes - 38.4 MBThe holiday season marches on and Christmas is just a few weeks away. Of course, the children of the world are excited about the arrival of Santa Claus. From an early age, we learn than there are two lists Santa uses in determining who gets what – the Nice list and the Naughty list. With a new year on the way, we wondered, will 2021 be Naughty or Nice? In this episode, we share economic perspectives from one of our top high net worth strategists, market commentary from our good frien...
Don't Nap On Your Retirement
November 23, 2020 00:00 - 55 minutes - 38.4 MBThanksgiving is almost here, which, for many of you means food, family, football, and….finances? It turns out Thanksgiving can teach us a lot about money. There are many traditions we observe and experiences we have at Thanksgiving that can apply to how you build your retirement plan. In this episode, we’ll share our favorite recipes for creating income and reducing taxes, the perfect Black Friday plan for your retirement, and how to avoid napping on the stock market.
Operation Warp Speed
November 16, 2020 00:00 - 55 minutes - 38.4 MBIf ever there was a year to take it easy, play it safe, and just wait until next year, 2020 has been it. However, opportunities abound, even in the year of COVID-19. Those who charge ahead at warp speed in the face of adversity are those that will succeed. In this episode, we discuss what a vaccine might mean for your financial decision making, how to stay focused on positivity, and how we've pivoted to serve clients no matter what.
Life After The Election
November 09, 2020 00:00 - 55 minutes - 38.4 MBNow that the Presidential election is behind us, we can turn our attention to other matters. As uncertain as the future seems, life does go on. However, there are some key issues we continue to monitor that could have implications for your retirement plan in 2021 and beyond. In this episode, we'll share expectations for the market and economy in 2021, consider whether or not Social Security and Medicare are in trouble, and discuss the outlook for inflation and interest rates.
The Monsters In Your Retirement Plan
November 02, 2020 00:00 - 55 minutes - 38.4 MBIt's Halloween and while you might be too old to go trick-or-treating, you probably still enjoy curling up on the couch to watch a classic scary monster movie. While those monsters aren't realy, the monsters in your retirement plan are. In this episode, we confront the force that will bleed you dry like Dracula, why you probably have a Frankenstein financial plan, how your plan may have split personality disorder like Jekyll and Hyde, and why you might have a Mummy retirement plan w...
Year End Deadlines Are Approaching
October 26, 2020 00:00 - 55 minutes - 38.4 MBThe last quarter of each year is extremely important when it comes to your financial future. It would be hard enough if these deadlines and decisions were about just one or two issues. However, there are multiple deadlines you need to know to take advantage of and maximize certain retirement planning benefits. In this episode, we share why October is one of the best months for re-evaluating your CDs, key retirement plan deadlines coming up at the end of December, changes coming to ...
The Advisor Advantage
October 19, 2020 00:00 - 55 minutes - 38.4 MBWhether you are retired now or will be retired in the next 10 years, hiring a financial advisor can literally add 2%-3% to your portfolio growth over time. This is because an advisor can help you clarify your goals, stay committed to a plan, and stay disciplined. However, not everyone calling themselves a financial advisor is the same. You need to know what to look for to get the advisor advantage. In this episode, we share what you should look for in an advisor, how your advisor ca...