Hearing From Haters Talking Real Money

24:44

Don’s back from NYC with pride (and maybe jet lag), tackling a full slate of thoughtful listener questions. From Roth conversions and the TSP G Fund to cash balance plan gimmicks, RMD timing, overpriced 401(k) plans, and yes, the eternal question: Are annuities ever worth it? Don delivers straight talk, a little outrage, and no-nonsense advice—with some well-placed jabs at the industry’s smoke and mirrors. 0:04 Don returns from NYU graduation trip and thanks listeners for sending questions 0:56 Should a 54/61-year-old couple convert traditional IRA to Roth? “It depends” 3:05 Federal employee asks about the TSP G Fund – why it’s loved, and when not to use it 5:47 High earners ask about cash balance plans – Don says beware the fees and opacity 11:05 Planning for RMDs at 73 – monthly, quarterly, or lump sum? Don prefers year-end 13:38 60-year-old stuck in a principal 401(k) with 2.3% fees – Don goes full outrage 18:28 “Are annuities ever appropriate?” Yes—but rarely, and only immediate ones Learn more about your ad choices. Visit megaphone.fm/adchoices…

Talking Real Money - Investing Talk

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Diversify or Die (Poor)? 29:57

3 дні тому29:57

29:57

Don and Tom launch into a globe-trotting episode—complete with multilingual greetings and a cameo from Cookie Monster—before diving into the serious question of global investing. They challenge the "home country bias" that keeps investors overly concentrated in U.S. stocks, highlight the recent performance gap favoring international small-cap value, and remind listeners that chasing returns and market timing are just two sides of the same bad investing coin. With personal anecdotes, Japan’s long recovery, and fund comparisons (VT, AVGE, DFAW), they make a rock-solid case for global diversification. Plus: a real-life trustee dilemma, a potentially smart annuity strategy, and a few dad jokes you didn’t ask for. 0:04 Multilingual greetings, Cookie Monster, and off-the-rails intro 1:38 Listeners ignore the banter—jump straight to annuity questions 2:05 “Why would I want foreign stocks?” US home bias gets roasted 2:39 International small-cap value up, S&P down—performance flips 3:23 Blackberry nostalgia, Don’s voiceover gigs, and cowboy auditions 5:30 U.S. vs. international investing—timing or chasing returns? 6:48 Market cycles and why global investing reduces regret 8:26 Feelings aren’t facts—own the planet, not your predictions 10:08 Japan's 34-year climb back—and the real lesson of 1990 11:49 Dividends matter: Japan’s returns weren’t all dead 12:20 Comparing VT, AVGE, and DFAW for global exposure 14:33 Why Don prefers global funds over DIY U.S./intl combos 15:30 A 1992 Japan vs. global return showdown—$10k becomes $41k or $233k 17:50 They buried the lead—global diversification wins again 18:14 Listener corrects math on 4% rule—Don admits the slip 19:06 Comment on borrowing from 401(k) and the “double-tax” myth 20:04 Facebook dad jokes derail Tom’s patience 20:53 Trust investing dilemma: annuity vs. portfolio income 23:50 Immediate annuity may be the best fit for a “failed-to-launch” son 25:23 Where to shop for no-load annuities—Fidelity, Ameritas, Stan the Annuity Man Learn more about your ad choices. Visit megaphone.fm/adchoices…

Talking Real Money - Investing Talk

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There's an Easier Way 42:35

4 дні тому42:35

42:35

In this episode, Don and Tom rewind to the not-so-golden era of Wall Street paperwork, bringing a modern perspective to old-school investing habits. They tackle listener questions around dividend investing, the allure of individual stocks, and whether the 'buy and hold forever' mindset still holds up in the era of ETFs. Along the way, they dismantle outdated advice, give historical context to stock certificate culture, and steer listeners back toward diversified, evidence-based strategies. A little nostalgia, a lot of myth-busting. 0:00 — Opening thoughts on old-school investing 1:30 — Why dividend stocks still captivate investors (and why they shouldn’t) 3:45 — Caller wants to hand-pick dividend stocks for income—Don’s got a better plan 6:12 — The problem with nostalgia-driven portfolios 7:55 — What a pile of stock certificates used to represent—and what it doesn’t anymore 9:40 — Why ETFs offer smarter, cheaper, saner exposure to dividends 12:18 — Tom reflects on the emotional appeal of owning "pieces of companies" 14:02 — Another caller asks: Should I dump my dividend ETF for higher-yield stocks? 15:40 — Compounding, risk, and the illusion of control 17:00 — Why chasing yield can lead to capital destruction 19:15 — Final thoughts: Don’t mistake familiar for safe, or paper for value Learn more about your ad choices. Visit megaphone.fm/adchoices…

Talking Real Money - Investing Talk

1
Two-Thirds are Wrong 40:48

5 днів тому40:48

40:48

Don and Tom take aim at America's favorite financial myths—starting with the widespread belief that real estate and gold are the best long-term investments. They present nearly 100 years of historical data to show why stocks have far outpaced both. The conversation also tackles misleading annuity pitches, a classic pension lump sum dilemma, and the age-old question facing 20-somethings: save for a house or retirement? Callers bring smart questions about guaranteed annuities, where to park surplus cash, and the VT vs. VTI+VXUS tax argument. As always, the show delivers investing wisdom with skeptical charm and a few zingers. 0:10 — A third of Americans believe real estate or gold are the best long-term investments 1:40 — The real historical winners: stocks beat gold and real estate by miles 3:03 — Nearly 100 years of returns: real estate (4.2%), gold (5%), stocks (9.9%) 6:00 — Don’s missed heart procedure and Tom’s recycled joke vault 7:49 — Don’s NYC hotel sticker shock vs. Tom’s five-star absence excuse 9:02 — Caller Jim asks about multi-year guaranteed annuities as bond alternatives 10:01 — Why MYGAs aren’t remotely comparable to U.S. Treasuries 13:07 — If something looks too good (5.8% guaranteed), it probably isn't 14:25 — Another Jim (Florida) asks: lump sum or $250/month pension? 17:30 — Financial flexibility vs. longevity risk in pension decisions 21:32 — Listener dilemma: save for retirement or a house at 24? 23:57 — Why early Roth contributions beat early homeownership for long-term wealth 25:41 — Kyle in Indianapolis has an extra $40K—where should it go? 27:26 — If it’s 5 years, don’t risk stocks. If it’s 10+, maybe 30:47 — Allie from Wyoming asks: VT vs. VTI+VXUS for better foreign tax credits 32:25 — Why foreign tax credit isn’t a good enough reason to skip VT 34:21 — Global GDP, stock valuations, and the eternal U.S. vs. international allocation debate Learn more about your ad choices. Visit megaphone.fm/adchoices…

Talking Real Money - Investing Talk

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Investing in Scary Times 27:39

6 днів тому27:39

27:39

In this episode, Don and Tom tackle the investor's most persistent foe—fear—especially during volatile markets. They draw on insights from Vanguard and others to reinforce the value of long-term investing, explain why missing a few key days in the market can devastate returns, and stress the importance of rebalancing over reacting. The duo also takes on political distractions, market timing myths, asset location dilemmas, and the emotional turbulence that causes people (including Don’s wife!) to question their portfolios. It all wraps with a cheeky new market jingle courtesy of ChatGPT and a shirt that reached Everest. Yeah, literally. 0:04 Welcome, podcast humor, and the pain of being downloaded 1:10 The recurring fear-driven urge to “do something” with your portfolio 1:33 Set it and forget it? Vanguard and others weigh in 2:44 Remember AOL? The danger of investing with confidence in the wrong thing 3:35 Volatility is the cost of real returns—don’t try to dodge it 4:50 Presidential influence and personal political biases in investing 5:50 Real portfolios with too few stocks and too much risk 6:55 Missing just 10 good days in the market could cut your returns in half 7:59 Buy and hold ≠ do nothing: how disciplined rebalancing works 9:17 Should you be buying international now? Maybe… but only if rebalancing 10:21 Feelings ≠ facts: don’t let emotions dictate portfolio moves 11:31 “Tune Out the Noise”—free advice and a free YouTube documentary 13:06 A musical market mantra written by ChatGPT 14:47 When even your spouse doubts your strategy: the advisor's personal dilemma 16:57 T-shirt spotted at Everest Base Camp—financial fame ascends 18:14 Can you contribute to a Roth IRA using last year’s wages? 19:54 Why young investors should love down markets 20:11 Asset location dilemma: comparing AVUV vs FISVX in 401(k) plans 23:54 Bedford, TX and a lesson in regional geography 24:31 Don’t chase performance—get help and rebalance smart 25:05 One more round of “Clueless is Smart”—market timing parody jingle Learn more about your ad choices. Visit megaphone.fm/adchoices…

Talking Real Money - Investing Talk

1
Six Subject Show 26:40

9 днів тому26:40

26:40

In this extra-packed Friday Q&A episode, Don powers through a barrage of listener questions while recovering from an attempted heart ablation (yep, he's okay—but not fixed). He dives into everything from sketchy SIMPLE IRA fees and Roth rollover rules, to when it actually makes sense to take Social Security. You’ll also hear a checklist of questions to grill a potential financial advisor with, a primer on small-cap value stocks, and a lightning-round suggestion for international bond exposure. And yes, he dishes on why many advisors don’t actually want you to read those pesky prospectuses. 0:04 Don's in his VO booth—surgery didn’t go as planned 1:38 SIMPLE IRA fees: 5% commissions and better alternatives 3:53 Roth IRA strategy: match in SIMPLE, max out Roth with AVGE 8:35 Why that Raymond James advisor doesn’t want change 9:43 Social Security breakeven isn’t one-size-fits-all 11:35 Roth IRA transfer to Robinhood: does 5-year clock reset? 13:04 What to ask when hiring a financial advisor 16:06 Small-cap value vs. other stocks explained 18:59 Comment: Prospectuses scare advisors (and why) 21:42 Best international bond index fund? Try BNDX Learn more about your ad choices. Visit megaphone.fm/adchoices…

Talking Real Money - Investing Talk

1
Hidden Wealth 28:45

10 днів тому28:45

28:45

On this Talking Real Money episode, Don and Tom tag-team one of the biggest financial myths around: your house as a retirement plan. With over $35 trillion locked in U.S. home equity, they challenge the idea that owning a home equals wealth. From the emotional pull of mortgage payoffs to the liquidity traps of reverse mortgages and HELOCs, the duo breaks down the risks, rewards, and real returns of homeownership. Then it’s on to listener questions about IRAs, 401(k)s, rollovers, and... fiber (yes, the breakfast and internet kind). And they end with a little brag—because 154,000 monthly listeners can’t be wrong. 0:04 $35 trillion tied up in homes—does that make us rich or just house-poor? 1:20 Post-COVID home equity boom: 80% growth, but at what cost? 2:53 Renting vs. buying: the case for liquidity over bricks 3:44 Property tax pain for retirees and why Florida isn't so tax-free after all 4:21 Mortgage payoff: emotional win, financial mistake? 5:48 Why home equity shouldn’t be your retirement income plan 6:37 Housing’s historic returns: barely 3% pre-inflation 7:54 Forced savings illusion and the real cost of home improvements 8:45 If you’d invested instead of buying… you’d have more 9:35 Reverse mortgages, HELOCs, and why it’s harder to get cash out 10:19 Home equity lines now ~8%—not cheap or easy to get 12:30 Big picture: don’t include home equity in your retirement spending plan 14:05 Florida vs. California: which really costs more to live in? 16:38 Insurance, taxes, and Florida's fraud problem 18:50 Listener Q: Can you do both an IRA and a 401(k) in the same year? (Yes.) 20:40 IRA vs. 401(k): pros, cons, and personal strategy 22:53 Listener Q: Should we roll an old 403(b) to a Roth IRA? 23:44 Talking Real Money’s audience numbers: brag-worthy and booming 25:19 Retirement prep tip: match income to lifestyle before you retire Learn more about your ad choices. Visit megaphone.fm/adchoices…

Talking Real Money - Investing Talk

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Will I Have Enough? 45:31

11 днів тому45:31

45:31

Tom and Roxy Butner to co-host a packed episode of Talking Real Money , tackling the ever-elusive "magic number" for retirement with a healthy dose of realism, humor, and data. They dig into a Northwestern Mutual study that shows Americans lowering their retirement savings goals—even as confidence continues to slip. Roxy breaks down why retirement planning is all about cash flow, not some mythical lump sum. They field questions on company stock in 401(k)s, bonus check strategies, RMD tax strategies, and how to get young people started right. From Monte Carlo analysis to Roth IRA advantages, the duo bust myths and offer practical steps listeners of all ages can act on today. 0:04 Tom introduces Roxy and the episode’s core question: “Do I have enough to retire?” 1:01 Why the idea of a single “magic number” is misleading and varies by lifestyle 2:41 Roxy: $600k may be enough—or $3M might not be; it’s all about cash flow 4:32 Despite lowering their goals, only 51% believe their retirement plan will work 6:15 Roxy explains Monte Carlo analysis and why asset type (Roth vs. pre-tax) matters 7:31 Why tracking actual spending matters more than estimates before retirement 8:32 Caller: Should we sell the company stock in my wife’s 401(k)? 9:18 Tom warns of overconfidence and stock concentration risk, citing WaMu collapse 10:45 Roxy and Tom agree: diversify ASAP—don’t let company loyalty cloud judgment 12:14 Historical cautionary tales on once-great companies that fell apart 13:26 Regional bias: How geography skews investor confidence in local companies 14:46 Caller: What to do with a $20k bonus after maxing out the 401(k)? 16:11 Roth IRA contribution options for him and his wife, and the 5-year rule 18:10 Bonus: Enhanced catch-up contributions for ages 60–63 explained 20:31 Caller asks about RMDs, tax planning, and long-term care deductions 21:53 Only qualified charitable distributions (QCDs) avoid tax on RMDs 23:24 Roth contributions early in life can lead to massive long-term advantages 24:47 Caller asks about a bond fund change in her HRA and 60/40 portfolio safety 29:45 Why “safe” is the wrong word—know your plan, goals, and risk tolerance 31:13 Caller wants her daughter to connect with Roxy for help managing her paycheck 32:54 Yes—Roxy helps young clients with budgeting and financial foundations 34:31 Why early saving and simple investing in your 20s is so powerful 36:09 Tom announces upcoming trip to Portland and free portfolio reviews 37:08 Final notes: building trust, long-term planning, and why they love the work Learn more about your ad choices. Visit megaphone.fm/adchoices…

Talking Real Money - Investing Talk

1
Lessons from a Legend 45:33

12 днів тому45:33

45:33

Tom Cock takes the mic solo (with Don recovering from a “procedure”) and brings in advisor Roxy Butner for a special live episode. They reflect on Warren Buffett’s decision to retire in 2025, discussing lessons from his value investing strategy and massive cash holdings. Listener questions roll in on topics like compound interest assumptions, the risks of holding company stock, ETF mechanics, and how best to diversify for retirement. They also recommend the YouTube documentary Tune Out the Noise , tackle behavioral finance biases, and offer free portfolio reviews—including Tom’s upcoming in-person trip to Oregon. 0:05 Tom hosts solo, Don out recovering, show call-in number shared 0:53 Warren Buffett announces 2025 retirement; lessons from his investing style 2:49 Value investing, risk tolerance, and why most portfolios ignore value stocks 5:05 Buffett’s ultimate advice: low-cost index funds, tune out the noise 7:09 Guest Roxy Butner joins the live show for the first time 7:28 Listener Q: YouTube doc Tune Out the Noise and Dimensional Fund Advisors 8:44 Listener Q: Using 7% return assumptions—how conservative is that? 10:53 Monte Carlo simulations vs. flat-rate assumptions in planning 12:32 Saving percentages, lifestyle choices, and setting early-retirement goals 14:04 You can't count on future returns—only saving and diversification 15:22 Company stock danger: bias, volatility, and concentrated risk 17:51 Behavioral finance: home bias and overconfidence in familiar firms 20:32 Listener Q from Orlando: DFIV vs. VEU, building a smart ETF mix 23:30 Discussing stock/bond ratios, fund tilts, and tax efficiency 25:34 Roxy’s advice: multiple funds offer tax flexibility in taxable accounts 27:16 Listener Q from Ottawa: Do ETF trades affect prices of underlying stocks? 29:59 ETF structure explained, flash crash risk, and long-term thinking 34:17 Listener wants a Talking Real Money nickname—challenge accepted 34:44 ETF vs. mutual funds in taxable vs. retirement accounts 36:19 Free portfolio reviews and Tom's May 21 visit to Lake Oswego 38:29 Roxy's biggest mistake she sees: U.S. large-cap overconcentration Learn more about your ad choices. Visit megaphone.fm/adchoices…

Talking Real Money - Investing Talk

1
Money Lessons That Matter 32:36

13 днів тому32:36

32:36

Don and Tom get real about the most important lessons every young person should learn about money—before life (and bad decisions) get in the way. From money values to compound interest, tax realities to the unpredictability of markets, they each offer a list of financial truths no teen should graduate without. Along the way, they drop stories from their own lives, take questions from listeners, and somehow end up discussing soccer (and why Don still doesn’t get it). 0:04 Back to basics: What young people really need to know about money 1:35 Why financial literacy is shockingly low and how Don is tackling it 2:47 Tom’s top five lessons: values, saving habits, compound interest, taxes, and risk 10:48 Don’s five(ish) truths: uncertainty, diversification, history, luck, and time 18:33 Bonus lesson: Save and invest for what money can do , not just to have more 19:04 Q&A: Should a 36-year-old shift from a target fund to DFAW and AVGE? 22:02 Listener wants to up international exposure without “buying winners” 24:47 Rebalancing tips: why it’s okay to shift your allocation now in retirement accounts 25:24 Reflections on past podcasts, Lit Reading, and leaving a legacy 26:30 Soccer vs. baseball: Don’s confused but still trying Learn more about your ad choices. Visit megaphone.fm/adchoices…

Talking Real Money - Investing Talk

1
All Questions, No Dumb Ones 21:40

17 днів тому21:40

21:40

Don records this Q&A episode a bit early—right before heart surgery—to make sure listeners don’t miss their Friday dose. He kicks off with a listener confused by a boilerplate $50 foreign stock fee warning on a Fidelity Zero fund (spoiler: it doesn’t apply). Another caller is teetering on the edge of retirement viability with $500K, pensions, and Social Security—Don offers honest thoughts on withdrawal flexibility and why waiting on SSI might be wise. Then comes a takedown of Wealthfront’s direct indexing for small investors (aka “gimmickry”), a nuanced answer about annuitizing a pension vs. taking the lump sum, and finally, a nearly microscopic comparison of IXUS vs. VEU for international exposure. Birds chirp, bells ring, and Don reminds everyone that free help is just a click away 0:05 Early episode recording—Don preps for heart surgery 2:07 Fidelity Zero fund confusion over $50 foreign stock disclosure 5:40 Can I retire with $500K, two pensions, and a 60/40 Roth portfolio? 9:07 Is Wealthfront’s direct indexing portfolio worth it at $20K? 12:46 Should I annuitize my pension or take the lump sum? 15:30 IXUS vs. VEU for international diversification—does it matter? Learn more about your ad choices. Visit megaphone.fm/adchoices…

Talking Real Money - Investing Talk

1
Modern Money Myths Meet Their Match 31:50

17 днів тому31:50

31:50

On this myth-busting episode of Talking Real Money , Don and Tom tackle persistent financial fables that sound logical but often lead investors astray. With help from a Kiplinger list and their own experience, they dissect myths around mortgage payoff returns, Roth conversions, Social Security fears, withdrawal rules, and tax refunds—plus three bonus myths that still haunt conversations today. Along the way, Don shares his own recent experience filing for Social Security online (spoiler: it was surprisingly smooth), and they answer listener questions about muni bond funds and a bizarre Social Security payback tax mix-up. As always, it’s myth-busting with a side of snark and a dash of real advice. 0:04 Myth-busting opener and Greek mythology jokes 1:03 Myth #1: Paying off a 5% mortgage equals a 5% return 5:14 Myth #2: Roth conversions always reduce taxes 7:57 Myth #3: Social Security is going bankrupt 13:20 Myth #4: The 4% rule guarantees retirement success 17:16 Myth #5: It's better to get a tax refund than owe taxes 18:54 Bonus myths: “I can save later,” “Investing is zero-sum,” and “High-cost funds perform better” 21:21 Listener question: Social Security payback tax confusion 26:42 Listener question: Best muni bond ETF for a high-tax-bracket senior Learn more about your ad choices. Visit megaphone.fm/adchoices…

Talking Real Money - Investing Talk

1
Scares, Stockpiles and Smart Planning 45:38

18 днів тому45:38

45:38

Tariffs, fear, and stockpiling—oh my! Don and Tom break down how consumer sentiment, not just consumer spending, is shifting dramatically under the weight of tariff uncertainty. They connect behavioral shifts—like Googling “recession” and panic-buying tires—to bigger economic signals and what it all means for investors. From the role of emergency savings to the misleading pitch of indexed annuities, they dismantle hype and stress the importance of sticking to a real plan. They also field smart questions on Roth conversions, muni bonds, and whether now is the time to invest that idle cash. Oh, and don’t worry: most of our toilet paper is made right here in the good ol’ USA! 0:11 Consumers drive the economy—and investment returns 0:47 Sentiment is slipping fast, and it could trigger a slowdown 2:05 “Recession” and “depression” searches spike amid uncertainty 3:11 Tariffs shift what we buy: food in, luxury out 4:24 What investors should do now: boost emergency savings 7:22 Auto stockpiling and tariff-fueled panic buying 8:50 Prices rising, brand loyalty falling, and psychology shifting 10:27 Volatility confuses perception—despite flat portfolio returns 12:16 Emergency funds are real insurance without the gimmicks 14:14 Spry 102-year-olds and the power of Bulgarian yogurt 17:47 Best muni bond fund choice for high tax brackets: VTEB 20:31 Can’t milk a Buckeye, but they might ward off arthritis 22:52 Roth conversions: should you pay the tax now or wait? 28:57 Indexed annuities: steak dinners, sales tricks, and the ugly truth 34:16 Why the commissions are so high—and the returns so low 37:55 Got cash on the sidelines? Here's what to do before investing 39:27 Final advice: plan first, invest later, ignore the noise Learn more about your ad choices. Visit megaphone.fm/adchoices…

Talking Real Money - Investing Talk

1
Your Brain’s Investing Mistakes 38:10

19 днів тому38:10

38:10

Our memories—and sometimes our parents'—shape how we invest, often more than logic or data. Don and Tom break down how generational financial trauma, recent market trends, and asset class myths (like gold and U.S.-only investing) skew our thinking. They call out flawed stock picking contests, revisit the real long-term returns on gold versus stocks, and explain why short-term memory leads to bad long-term decisions. Listener questions hit everything from where to park house savings to bond fund risks, rebalancing strategies, and simplifying retirement saving using the TSP. Oh, and yes, the laundry room podcast myth lives on, and the Fyre Festival somehow still smolders in the background. 0:04 Don and Tom settle into the show—studio quirks, mic levels, and inviting questions 0:52 How memory bias—from the Great Depression to dot-com boom—influences investment behavior 2:07 Family stories from the Depression era and why stock picking games teach the wrong lesson 2:54 Why investors wrongly believe growth stocks always beat value—thanks to recent performance 5:20 Myths about market trends: U.S. dominance, buy-the-dip thinking, and time horizon confusion 7:46 Gold mania: Recent price surge vs. long-term returns—spoiler, stocks win 9:58 Long-term perspective: $10k in 1980—Gold vs. Treasuries vs. Global portfolio 10:28 Listener: Where to park house construction funds short-term—ETFs vs. money markets 13:30 Why those new ultra-short ETFs may be a trap 15:17 Listener: Should I buy callable bonds with 6% yields? And what’s with PIMCO’s “14%”? 17:36 Risks of leveraged bond funds like PDI—why they don’t belong in a stable portfolio 19:46 Listener: How often should I rebalance in a 401(k)? 23:12 Listener in Albuquerque: Should I go all-in on the C Fund for simplicity? 25:39 Roth vs. TSP—what matters more: today’s tax rate or the future’s unknowns? 27:33 Future goals: quarterly travel in retirement and pizza roof update 28:22 Investing in “brands” like Fyre Festival—don’t 32:30 $63 offer for the Fyre trademark, and a plug for free fiduciary advice Learn more about your ad choices. Visit megaphone.fm/adchoices…

Talking Real Money - Investing Talk

1
Leverage: Fast Fortune or Failure 22:03

20 днів тому22:03