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BEST OF TALKING MONEY: Don’t get caught working with an advisor who is taking advantage of you!
How can you tell if your advisor is on the “up and up”?
Mike reviews some of the red flags that should warn you of potentially fraudulent activities. Plus, what are some definite activities to watch out for like churning your account or asking you to make a check payable to the advisor for an investment or insurance purchase.
Listen to the EpisodeBEST OF TALKING MONEY: A PENNY SAVED IS A PENNY EARNED
In The Way to Wealth, Benjamin Franklin gave some sage financial advice, even on how to control living expenses. He also gave timeless advice regarding avoiding debt.
Mike talks about some of those pieces of advice as well as answering a listener question about the recent interest rate increase and ideas about how to help others in your local community.
Mikes’ wife Cathy calls in to discuss ways she helped keep living expenses low as she and Mike raised their children.
He also shared an old Saturday Night Live skit.
Listen to the EpisodeBEST OF TALKING MONEY: The Way to Wealth
In 1785, Benjamin Franklin wrote an essay entitled “The Way to Wealth or Father Abraham’s Sermon.” It is a collection of phrases of wisdom and advice that are still applicable today. Phrases like:
- A word to the wise is enough.
- Lost time is never found again.
- Drive thy business, let not that drive thee.
- Early to bed, early to rise, makes a man healthy, wealthy, and wise.
- If we are industrious, we will never starve.
- Never leave for tomorrow what you can do today.
- Since you are not sure of a minute, don’t waste an hour.
- A life of leisure and life of laziness are two different things.
There is a lot of biblical truth in these statements as well. Biblical advice on money is always timely.
Whose money is it anyway? How does the way you spend your money reflect what you believe about money?
Listen to the EpisodeBEST OF TALKING MONEY: INSURANCE BASICS
Stephen Piper of Piper Insurance Group joins Mike to answer insurance questions:
- How does inflation affect home and auto insurance?
- What are some ways to save when you add a teenage driver?
- Is there a way to report insurance companies not paying what is due?
- How do you make sure you have enough coverage?
- What about coverage for the contents of the house?
- Do I need to take a video inventory of my possessions?
- What might be involved in the claims process if something happens?
- Should I insure my rental properties under an LLC or under my name?
- If I rent a car, am I covered under my personal policy?
BEST OF TALKING MONEY: PART II: The answers you need about the new IRA rules, without the sales pitch!
Which is better—Roth or Traditional IRA? When should you consider a back-door Roth IRA or a traditional non-deductible IRA? What is the new penalty if you forget to take your Required Minimum Distribution? Know the rules or suffer the consequences!! Tune into this Part II discussion!
Listen to the EpisodeBEST OF TALKING MONEY: The answers you need about the new IRA rules, without the sales pitch!
Which is better—Roth or Traditional IRA? When should you consider a back-door Roth IRA or a traditional non-deductible IRA? What is the new penalty if you forget to take your Required Minimum Distribution? Know the rules or suffer the consequences!!
Listen to the EpisodeBEST OF TALKING MONEY: A Trip Down Memory Lane
Mike goes back in time to share his growing up years; the transition to financial planning, including the beginning of PlanFIRST; wrapping up with a special appearance by Paul Wright, the brainchild behind getting Mike into radio and Talking Money. Enjoy and repost!!
Listen to the EpisodeBEST OF TALKING MONEY: BUSINESS LEADERS SHARE THEIR STORY
Blue Trust clients and business leaders of Eastern Industrial Supplies Inc., Kip and Kim Miller join Mike to answer some personal questions on money, business, and caring for their employees.
Listen to the EpisodeBEST OF TALKING MONEY: How much money do Americans say you need to be wealthy?
According to a recent Modern Wealth Survey conducted for Charles Schwab, Americans say you need $2.2M to “be wealthy.” The numbers drop significantly when those same people were asked how much they need to “feel wealthy.” On this program, Mike looks at how different generations from Gen Z to Boomers view wealth from a numbers perspective and from what being wealthy really means to them. Which would you say is more important: having a fulfilling personal life or having a lot of money?
Listen to the EpisodeBEST OF TALKING MONEY: The Bucket Strategy
What is the bucket approach to retirement planning? How do you adjust for inflation?
How can you determine your personal inflation rate? What factors come into play?
Which bucket should I focus on?
What are some different vehicles we use for income?
What are some other ways to try to retain income security in retirement?
Listen to the EpisodeBEST OF TALKING MONEY: New IRA RMD and contribution rules and new small business reporting coming soon
Mike and guest expert, Alan Cox, review the RMD and distribution rule changes with the SECURE Act 2.0. Plus, the new Corporate Transparency Act requires SMALL business owners to start reporting personal information about any “beneficial” owner. This is a must listen to podcast for all small business owners!!
Listen to the EpisodeBEST OF TALKING MONEY: What are Financial, Social, and Spiritual Capital?
We all know about Financial Capital, but what are Social and Spiritual Capital and how can you invest in them? Mike discusses some practical ways to invest in Social and Spiritual Capital. The value they provide far exceeds the face value of the money! Plus, how to avoid emotionally driven reactions to inflation.
Listen to the EpisodeBEST OF TALKING MONEY: More Money Leads to A Happier Life, Right?
Jim Wise shares his “money journey” from finally getting his dream home (lasted one week) to advising clients to pay off debt instead of investing. Jim’s story will encourage and convict–with a little humor along the way.
Listen to the EpisodeBEST OF TALKING MONEY: How is Social Security Income taxed and what you can do to reduce those taxes
Social Security expert, Eddie Holland, CPA/PFS, CFP, CKA, joins Mike to discuss how to reduce the taxes on your Social Security and the premiums on Medicare. Plus, what should widows consider when deciding which claiming strategy to choose. Get the information you need—WITHOUT the SALES Pitch!
Listen to the EpisodeBEST OF TALKING MONEY: WHAT IS A DONOR ADVISED FUND AND HOW IT CAN HELP YOU SAVE TIME AND MONEY
Gift Planning Attorney, Daniel Hicks joins Mike to discuss this great planning tool.
Listen to the EpisodeBEST OF TALKING MONEY: Annuities: best product since sliced bread or a house of mirrors? Part 2
The Wall Street Journal in 2014 published an article entitled “Beware of the annuity house of mirrors”! Last week and this week Mike gives you the information you need to be a smart consumer of annuities.
Listen to the EpisodeBEST OF TALKING MONEY: Annuities: best product since sliced bread or a house of mirrors? Part 1
The Wall Street Journal in 2014 published an article entitled “Beware of the annuity house of mirrors”! For the next two weeks, Mike gives you the information you need to be a smart consumer of annuities.
Listen to the EpisodeBEST OF TALKING MONEY: Beneficiary Designations – Don’t disinherit your grandchildren. Plus, does your financial advisor have skeletons in the closet?
Do you have your beneficiaries set up correctly on your life insurance and retirement accounts? Are Registered Investment Advisors required to tell you if clients have filed a written complaint, an arbitration claim or a civil lawsuit against them? Mike reviews some questions you need to ask when searching for a financial advisor.
Listen to the EpisodeBEST OF TALKING MONEY: Part Two: Mike Unpacks The Often-Confusing World of Life Insurance
Part Two: Life insurance is often referred to as a “necessary evil!” This week Mike shares his thoughts on who should buy it and what kind you should buy. There are plenty of options so it can be confusing. Plus, do you need life insurance even after you have retired?
Listen to the EpisodeBEST OF TALKING MONEY: Unpacking the Often-Confusing World of Life Insurance
Part One: Life insurance is often referred to as a “necessary evil!” This week Mike shares his thoughts on who should buy it and what kind you should buy. There are plenty of options so it can be confusing. Plus, do you need life insurance even after you have retired?
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