Are your taxes going up if Biden gets elected? David talks through some of the numbers and examples of how his tax plan could impact you. Read more and get additional financial resources here: https://coveryourassetskc.com/episode-96-would-my-taxes-go-up-if-biden-becomes-president/ What we discuss on the show: 0:40 - Will my taxes go up if Biden is elected? 2:01 - What do people typically fear will happen if Biden is elected? 5:24 - What will happen to the taxes of people not in the top 2 percen...
Oct 08, 2020•19 min•Ep. 96
You may have spent plenty of time planning for your legacy, but do your heirs know what they need to know? What conversations should you be having with them now? Read more and get additional financial resources here: https://coveryourassetskc.com/episode-95-3-things-your-heirs-should-know/ What we discuss on this show: 1:48 - What should you be thinking about with the next generation? 2:52 - #1: Make sure that you have a healthcare directive or living will. 5:39 - #2: Have a will and make sure y...
Oct 01, 2020•15 min•Ep. 95
Even though it’s still a little way off, how can Millennials best prepare for retirement? What kinds of strategies should they implement as a part of their financial plan? Read more and get additional financial resources here: https://coveryourassetskc.com/episode-94-millennials-in-retirement/ What we discuss on this show: 0:34 - What should Millennials be doing to save and prepare for retirement? 2:06 - Be focused and working on your career. 3:57 - Tip #1: Save at least 10 percent of what you m...
Sep 24, 2020•27 min•Ep. 94
Did you know…? From the global bond market to living benefits, we share what kind of stuff should you know when it comes to your financial decisions on today’s podcast. Read more and get additional financial resources here: https://coveryourassetskc.com/episode-93-stuff-you-should-know-in-the-financial-world/ What we discuss on the show: 0:34 - Fall sports are back! 2:26 - The global bond market is about twice the size of the global stock market. 5:09 - Income tax rates are currently close to hi...
Sep 17, 2020•20 min•Ep. 93
Are you wondering if you should do a rebalance? David answers this question, as well as two others from the mailbag this week. Read more and get additional financial resources here: https://coveryourassetskc.com/episode-92-mailbag-should-you-be-rebalancing/ What we discuss today: 1:47 - Mailbag: Should I rebalance? 2:48 - How does David breakdown a portfolio? 3:47 - Why is a rebalance important? 8:29 - Mailbag: Is 33 different mutual funds adequate diversification? 13:47 - Mailbag: Can I claim S...
Sep 03, 2020•19 min•Ep. 92
What should you know when it comes to Social Security in the future? Will it still be there for you when you need it? How should your retirement plan account for Social Security? We’ll talk all things Social Security on today’s show. Read more and get additional financial resources here: https://coveryourassetskc.com/episode-91-whats-the-future-of-social-security/ What we discuss: 1:07 - What is Social Security’s future? 2:48 - How will we keep it going? 4:03 - What’s the history of Social Secur...
Aug 27, 2020•18 min•Ep. 91
Regardless of your age, here are three reasons you may want to review your tax plans and estate plans before the end of the year. Do you have everything set up in the most beneficial way? Read more and get additional financial resources here: https://coveryourassetskc.com/episode-90-3-reasons-to-review-your-tax-and-estate-plan-now/ On today's show: 0:34 - This show has something for everyone when it comes to tax strategy. 1:31 - Why should you review your tax and estate plan right now? 3:21 - Wh...
Aug 20, 2020•16 min•Ep. 90
How does this year’s 2020 election results impact your finances? We run through several possible outcomes to see what may be most beneficial from a financial standpoint. Read more and get additional financial resources here: https://coveryourassetskc.com/episode-89-which-presidential-outcome-will-be-best-for-your-portfolio/ On today's show: 0:32 - What’s the latest in the news? 1:36 - Which presidential outcome will be best for your portfolio? 3:31 - What happens if it is full Democratic control...
Aug 13, 2020•21 min•Ep. 89
More than a mere structure, your financial plan creates the blueprint for the life and home you live in. What does it take to build a financial home that will withstand the test of time? Join us as we lay out the similarities between constructing a plan and constructing a house. Read more and get additional financial resources here: https://coveryourassetskc.com/episode-88-building-a-financial-house/ On today's show: 1:50 - What goes into building a house? 3:13 - Building a financial plan can fe...
Aug 06, 2020•19 min•Ep. 88
Should you follow the “Rule of 100”? Are you wanting to retire sooner than originally planned? Where should your retirement income come from? David answers these listener questions on today’s episode of Cover Your Assets KC . Read more about this topic: https://coveryourassetskc.com/episode-87-3-listener-questions-about-retirement-planning/ On today's show: 1:02 - Mailbag: Can you explain the rule of 100? 4:34 - Mailbag: Which account should you withdraw from first in retirement? 8:08 - Mailbag:...
Jul 30, 2020•16 min•Ep. 87
Do you know when and how to do a 401(k) rollover? What type of rollover do you choose and where do the funds go? Find out on today’s podcast. Read more and get additional financial resources here: https://coveryourassetskc.com/episode-86-what-your-401k-rollovers-options-are/ Today's show schedule: 1:07 - What are your options for rolling over a 401(k)? 2:53 - When you leave a company, what happens with your 401(k)? 6:01 - What’s the difference between direct and indirect rollovers? 10:57 - What ...
Jul 23, 2020•17 min•Ep. 86
While it’s unpleasant to think about, preparing for what happens when one spouse dies is a critical component of your financial plan. David has worked with several surviving spouses and shares what’s important to focus on when it comes to your financial plan during that transition. Read more and get additional financial resources here: https://coveryourassetskc.com/episode-85-dealing-with-the-death-of-a-spouse/ Today's show schedule: 1:45 - What are the financial difficulties following the death...
Jul 16, 2020•22 min•Ep. 85
Does retiring at 55 sound like a good idea? Russ, one of our listeners, thinks so and wants to know how he can prepare to do so. Read more and get additional financial resources here: https://coveryourassetskc.com/episode-84-how-to-prepare-for-early-retirement/ Today's show schedule: 1:24 - Mailbag: What can I do to prepare to retire early? 3:14 - How much am I going to spend in retirement? 5:38 - How will you cover your healthcare? 7:29 - Where will your income come from? 10:21 - Will my money ...
Jul 09, 2020•17 min•Ep. 84
Annuities might just be the most controversial topic in the retirement landscape, but why are they such a polarizing set of products? Find out what David thinks about the four different types of annuities and get lots of detail on each one on today’s episode. Show Notes, Resources & Contact Info: https://coveryourassetskc.com/podcasts/ Timestamps: 0:59 - Annuities are a controversial topic. 3:15 - It’s important to use the right tools. 5:04 - Type #1: Immediate annuity 9:22 - Type #2: Fixed ...
Jul 02, 2020•25 min•Ep. 83
From financial plans and needs to your retirement lifestyle, your retirement is decidedly not the same as dear old Dad’s. How will your retirement (and retirement plans) be different? Show Notes, Contact & Resources: https://coveryourassetskc.com/podcasts/ Timestamps: 0:51 - It was assumed you would automatically retire at 65. 2:53 - Retirement living was cheaper. 4:24 - Retirees today have a lot more problems than previous generations of retirees. 6:49 - Retirement portfolios now need to be...
Jun 25, 2020•11 min•Ep. 82
Are you aware of all of the changes that the SECURE Act brought about? How does that potentially change your financial plan right now? We’ll answer those questions and more on today’s episode. Read more and get additional financial resources here: https://coveryourassetskc.com/episode-81-how-the-secure-act-changed-inherited-iras/ Today's show schedule: 0:32 - The SECURE Act was supposed to be the big financial news. 2:45 - What happens when you inherit an IRA? 3:40 - The first category of benefi...
Jun 18, 2020•17 min•Ep. 81
If you think a Roth conversion might be the right thing for you, how do you do it correctly? Creating a strategic plan for your conversion can make a significant difference in your finances and we'll discuss the reasons many people are choosing to make this move. Read more and get additional financial resources here: https://coveryourassetskc.com/episode-80-what-is-the-strategy-behind-a-roth-conversion/ Today's show schedule: 1:14 - What is the strategy behind a Roth conversion? 3:47 - What is a...
Jun 11, 2020•20 min•Ep. 80
We’re told to use common sense when making decisions, yet often we still do otherwise. Today’s podcast will highlight several areas where people tend to go outside of the common sense and why. Read more and get additional financial resources here: https://coveryourassetskc.com/episode-79-uncommon-sense-in-financial-planning/ Today's show schedule: 0:53 - “Buy low and sell high.” 3:37 - Don’t pay more in taxes than you have to. 6:06 - Keep costs low within your investments. 8:33 - “Don’t put all ...
Jun 04, 2020•14 min•Ep. 79
Everybody likes to hear about scams but nobody likes to be involved in one. Today, let’s cover the two most common types of scams and then four ways to avoid a scam. Read more and get additional financial resources here: https://coveryourassetskc.com/episode-78-how-to-spot-avoid-scams-in-the-coronavirus-environment/ Today's show schedule: 0:34 - Scams continue to be a risk. 2:26 - The most common scam is by phone. 4:22 - If you pick up the phone and they say they are from the IRS -- they aren’t....
May 28, 2020•23 min•Ep. 78
Wondering what’s most important as you near retirement? How about, what’s the worst course of action you can be taking? Find out the top three worst financial decisions you can make as you enter into retirement. Read more and get additional financial resources here: https://coveryourassetskc.com/episode-77-3-worst-financial-decisions-you-can-make-near-retirement/ Today's show schedule: 1:56 - What are some of the worst decisions you can make as you approach retirement? 3:05 - Bad Decision #1: En...
May 21, 2020•23 min•Ep. 77
Are you using non-correlated income wisely? On this episode, David explains what non-correlated income is and how you should use it within your financial plan. Read more and get additional financial resources here: https://coveryourassetskc.com/episode-76-understanding-non-correlated-income/ Today's show schedule: 0:22 - What is non-correlated income? 1:33 - Why is non-correlated income important? 2:45 - What are some examples of non-correlated income? 3:43 - How much of a retiree’s income shoul...
May 14, 2020•9 min•Ep. 76
Just like you have a doctor to help you manage your health, a financial advisor helps manage your financial health. Let’s discuss some of the parallels between your relationship with your doctor and with your financial advisor. Read more and get additional financial resources here: https://coveryourassetskc.com/episode-75-financial-lessons-from-the-world-of-medicine/ Today's show schedule: 0:35 - Even if you feel fine, it’s good to get a regular check-up. 2:51 - Sometimes you can self-diagnose y...
May 07, 2020•12 min•Ep. 75
Do you actually need to have life insurance or is it just another expense? David talks through the importance of life insurance and how it might be worth having as a part of your financial plan. Read more and get additional resources here: https://coveryourassetskc.com/episode-74-do-you-really-need-life-insurance/ Today's show schedule: 0:22 - Why is “life insurance” a bit of a dirty word to some people? 1:17 - How do you know if you actually need life insurance? 3:05 - What is the right amount ...
Apr 30, 2020•9 min•Ep. 74
Between coronavirus fears and the current market volatility, how can you navigate this turmoil wisely? What should you be doing with your money? Read more and get additional resources: https://coveryourassetskc.com/episode-73-coronavirus-the-economy-navigating-the-turmoil/ Today's show schedule: 1:04 - It’s a lot to navigate through this pandemic. No one knows how it will all unfold. 2:08 - There was a market crash and then a bounce back. Will the volatility continue? 3:40 - What caused the mark...
Apr 23, 2020•18 min•Ep. 73
In response to coronavirus, the CARES Act has been passed. What will this mean for you and your financial planning? Let's look at the three biggest provisions in this stimulus bill. Read more and get additional resources here: https://coveryourassetskc.com/episode-72-3-key-provisions-in-the-cares-act/ Today's show rundown: 2:11 - What are three key provisions in the CARES Act? 3:14 - Free money will be deposited into the bank accounts of most Americans. 7:21 - The tax filing deadline has been bu...
Apr 16, 2020•18 min•Ep. 72
Sometimes you hear a quote that might have been said a long time ago, but it still rings true today. What quotes from Will Rogers apply when it comes to making financial decisions? Read more and get additional resources here: https://coveryourassetskc.com/episode-71-financial-planning-wisdom-and-quotes-from-will-rogers/ Today's rundown: 0:36 - There are three kinds of men says Will Rogers. What are they? 2:46 - What’s the difference between death and taxes? 5:03 - Is satisfaction all there is to...
Apr 09, 2020•12 min•Ep. 71
When it comes to your financial plan, are you basing it off of facts or fiction? Consider the decisions you’re making and where you’re getting your information. We'll help you do that on this episode. Read more and get additional resources: https://coveryourassetskc.com/episode-70-are-these-financial-views-fact-or-fiction/ Today's rundown: 0:29 - Fact or Fiction: Your Social Security is taxable. 2:22 - Fact or Fiction: Your taxes will likely be lower in retirement. 4:00 - Fact or Fiction: Term l...
Apr 02, 2020•10 min•Ep. 70
In March, we usually spend a lot of time paying attention to basketball. While it’s not on right now, let’s talk though some of the strategy behind the game as it applies in our own lives. Read more and get additional resources here: https://coveryourassetskc.com/episode-69-finan…nd-off-the-court/ Today's rundown: 0:52- How does the shot clock in basketball relate to financial planning? 2:54- Do you have a plan for what happens with Social Security? 4:31- If you have a pension, how much do you w...
Mar 26, 2020•11 min•Ep. 69
What can you do while the market goes downward? What kind of impact with the coronavirus make on your financial plan? Today we'll lay out three steps you can take in the midst of the volatility. Read more and get additional resources here: https://coveryourassetskc.com/episode-68-coron…ntinues-downward/ Today's rundown: 0:28- Continuing the conversation about the coronavirus and economic uncertainty. 0:57- What does it mean to be uncomfortable financially right now? 3:28- Step 1: Don’t react emo...
Mar 19, 2020•17 min•Ep. 68
The market has fluctuated dramatically in recent weeks and we’ve seen much more down than up. What is causing this? Is it all about the coronavirus? Should we be concerned or do something different with our portfolios? Read more and get additional resources here: https://coveryourassetskc.com/episode-67-coronavirus-market-volatility-3-reasons-stocks-are-down/ Today's rundown: 0:41 - People are worried about market volatility. 4:46 - Reason #1: The coronavirus has caused economic uncertainty. 6:5...
Mar 12, 2020•21 min•Ep. 67
