Ready to put your retirement income knowledge to the test? Take this quiz and follow along on today’s podcast to see how you do. Read more and get additional financial resources here: https://coveryourassetskc.com/episode-126-whats-your-retirement-income-literacy/ Take the quiz here: https://www.surveymonkey.com/r/2020-retirement-income-survey What we discuss on this episode: 0:56 - Could you pass this retirement income literacy quiz? 3:14 - What’s the most you can afford to withdraw each year t...
May 27, 2021•21 min•Ep. 126
Is paying off the house a worthwhile reason for taking Social Security early? Can life insurance create retirement income? David answers five very different questions from the mailbag in today’s episode. Read more and get additional financial resources here: https://coveryourassetskc.com/episode-125-mailbag-should-i-take-social-security-early/ What we discuss on this episode: 1:34 - Mailbag: Should I take Social Security early to help pay off the house? 7:12 - Mailbag: Can you use life insurance...
May 20, 2021•23 min•Ep. 125
Ready to learn some financial terms? David unpacks four financial terms and how they may relate to your financial plan. Read more and get additional financial resources here: https://coveryourassetskc.com/ep-124-4-terms-from-the-financial-dictionary/ What we discuss on this episode: 1:59 - What is overbought in the stock market? 6:16 - What is P/E ratio? 12:11 - What is a quitclaim deed? 14:33 - What is regressive tax?...
May 13, 2021•22 min•Ep. 124
Ironically, life insurance is a young man’s game. The perception among many people is that the need for a policy dramatically decreases or become completely unnecessary as you get older. But is that really the case? Today, we’ll explore the ins and outs of life insurance and its various uses when it comes to planning. Read more and get additional financial resources here: https://coveryourassetskc.com/episode-123-do-retirees-really-need-life-insurance/ What we discuss on this episode: 1:36 – Per...
May 06, 2021•16 min•Ep. 123
Are you divorced and wondering about spousal Social Security benefits in retirement? David shares seven things you need to know about the benefits and what they might look like on today’s podcast. Read more and get additional financial resources here: https://coveryourassetskc.com/episode-122-how-to-claim-social-security-benefits-of-an-ex-spouse/ What we discuss on this episode: 0:49 - What happens to your Social Security after a divorce? 2:05 - How do you qualify for an ex-spouse’s Social Secur...
Apr 29, 2021•19 min•Ep. 122
If you’ve found a good stock, how much is okay to invest in it? David answers this question from the mailbag, as well as three others related to when to retire and the stability of Social Security. Read more and get additional financial resources here: https://coveryourassetskc.com/episode-121-how-much-should-you-invest-in-one-stock/ What we discuss on this episode: 0:57 - Mailbag: Is it normal to work past 65 years old? 4:11 - Mailbag: Should you consider an early retirement package? 8:49 - Mai...
Apr 22, 2021•19 min•Ep. 121
When financial planning, what do you need to know about inherited IRAs when it comes to leaving a legacy? What is most beneficial to your heirs in the future? Read more and get additional financial resources here: https://coveryourassetskc.com/episode-120-whats-changed-with-inherited-iras/ What we discuss on this episode: 2:34 - In the last few years a lot has changed with inherited IRAs. 4:05 - Generally, you have up to 10 years to clear out an inherited IRA. 6:32 - What if you inherit an IRA f...
Apr 15, 2021•17 min•Ep. 120
As March Madness came to a close, we wanted to have a little fun and talk about what basketball and financial planning had in common. Is your financial plan ready for its one shining moment? Read more and get additional financial resources here: https://coveryourassetskc.com/episode-119-basketball-and-financial-planning/ What we discuss on this episode: 2:08 - What can we learn about retirement planning from basketball, starting with the shot clock? 7:24 - What’s the retirement equivalent of a d...
Apr 08, 2021•21 min•Ep. 119
Are you assuming when it comes to your financial plan? Let’s talk about what common assumptions people have and how to properly plan and prepare for retirement. Read more and get additional financial resources here: https://coveryourassetskc.com/episode-118-things-you-should-never-assume-in-the-financial-world/ What we discuss on this episode: 4:37 - Do you assume you’ll spend less in retirement? 6:57 - Assume your taxes will be lower in retirement? 10:34 - Think you should get your kids through...
Apr 01, 2021•17 min•Ep. 118
On the lookout for mutual funds with high returns because you’ve heard it’s possible? David answers three questions from the mailbag in today’s show as you make financial decisions. Read more and get additional financial resources here: https://coveryourassetskc.com/episode-117-where-can-i-find-mutual-funds-with-10-percent-returns/ What we discuss on this episode: 1:22 - Mailbag: Will my Social Security and pension be enough? 6:07 - Mailbag: Where can I find returns that earn over 10 percent? 11...
Mar 25, 2021•19 min•Ep. 117
Have you given much thought to taxes in retirement? What can you do to prepare effectively for what the future may hold? Read more and get additional financial resources here: https://coveryourassetskc.com/episode-116-4-steps-to-help-you-plan-ahead-for-taxes-in-retirement/ What we discuss on this episode: 0:37 - David is back in town! 4:05 - Why is it important to plan ahead for taxes? 6:17 - Should you include diversification in your retirement taxes? 7:51 - What are the four accounts to invest...
Mar 18, 2021•22 min•Ep. 116
What is your financial foundation? Every financial house needs a strong foundation. Whether you are just starting out or already into retirement, you want a firm and healthy foundation. On today’s episode of Cover Your Assets KC , David talks about the five keys you’ll want to build your financial base. Read more and get additional financial resources here: https://coveryourassetskc.com/episode-115-5-keys-to-a-strong-financial-foundation/ What we discuss on this episode: 1:29 - Have total contro...
Mar 11, 2021•23 min•Ep. 115
This or that? Which is better? David answers three mailbag questions that ask what to do while trying to make wise investment decisions. Read more and get additional financial resources here: https://coveryourassetskc.com/episode-114-save-up-for-rental-property-or-pay-off-house/ What we discuss on this episode: 0:26 - Feeling ready for spring? 2:04 - Mailbag: Pay off the house or save for a rental investment property? 10:28 - Mailbag: How many 401(k) funds should I have? 17:29 - Mailbag: Should ...
Mar 04, 2021•26 min•Ep. 114
If you’ve ever invested, you’re at least familiar with capital gains, but do you understand how much they impact your future? Today we’ll tell you five things that you need to know about capital gains and how to account for them when investing. Read more and get additional financial resources here: https://coveryourassetskc.com/episode-113-5-things-to-know-about-capital-gains/ What we discuss on this episode: 1:43 - What’s the difference between a short-term capital gain and a long-term capital ...
Feb 25, 2021•17 min•Ep. 113
What risks might you encounter when it comes to your finances? How prepared are you for what may come? Find out more about the different types of risk and how to account for them in planning. Read more and get additional financial resources here: https://coveryourassetskc.com/episode-112-types-of-financial-risk-to-watch-out-for/ What we discuss on this episode: 0:30 - Is David a risk-taker? 1:59 - What are the different types of risk in finances? 3:16 - Market risk 7:47 - Interest rate risk 12:1...
Feb 18, 2021•26 min•Ep. 112
What just happened with GameStop, causing a wild week on Wall Street? Today on the podcast, David gives an explanation of what GameStop is, why its stocks soared, and what we can learn from the situation . Read more and get additional financial resources here: https://coveryourassetskc.com/episode-111-the-story-behind-gamestop-stock/ What we discuss on this episode: 0:29 - David shares what part of the country he’s visiting right now. 2:29 - What lessons can be learned from GameStop? 6:44 - What...
Feb 11, 2021•24 min•Ep. 111
Have you started working on your financial resolutions yet? What kind of questions have delayed you from reaching your goals? Today we’ll provide answers to help you stay on track financially this year. Read more and get additional financial resources here: https://coveryourassetskc.com/episode-110-financial-resolutions-answering-your-questions/ What we discuss on this episode: 1:31 - Mailbag: How do I make a plan to address $30k in credit card debt? 2:49 - What five steps will get you to where ...
Feb 04, 2021•25 min•Ep. 110
Does your portfolio contain these three qualities? How can you create a balanced portfolio Today we’ll talk about some foundational principles that David’s business and financial security are built on. Show notes and additional financial resources: https://coveryourassetskc.com/episode-109-sly-safety-liquidity-and-yield/ What we discuss on this episode: 0:41 - What are the three qualities of money? 2:16 - What qualities do you want in a portfolio? 3:26 - Why can’t I have all three qualities at o...
Jan 28, 2021•20 min•Ep. 109
What can we learn from these retirement statistics? Sometimes the data available can help guide you and your decisions when it comes to planning for retirement. On today’s episode of the Cover Your Assets KC podcast, we discuss five important statistics you’ll want to keep in mind. Read more and get additional financial resources here: https://coveryourassetskc.com/episode-108-5-important-retirement-statistics/ What we discuss on this episode: 1:35 - What are important retirement statistics? 2:2...
Jan 21, 2021•21 min•Ep. 108
Ready to hit the ground running with your financial resolutions? David gives a list of seven things to cover in this two-part series. Check out part 1 here: https://coveryourassetskc.com/episode-106-2021-financial-new-years-resolutions-part-1/ Read more and get additional resources here: https://coveryourassetskc.com/episode-107-2021-financial-resolutions-part-2/ What we discuss on this episode: 0:54 - What were the first three financial resolutions? 3:00 - Save as much as you can as early as yo...
Jan 14, 2021•27 min•Ep. 107
As we kick off the new year, let’s look to some financial resolutions. Have you set resolutions for the year yet or are you feeling a bit of the 2020 burnout? These resolutions are really important to your financial future--so important, that this will be a two-part series. Hopefully by the end of January, you have all seven of these action steps nailed down. Read more and get additional financial resources here: https://coveryourassetskc.com/episode-106-2021-financial-new-years-resolutions-part...
Jan 07, 2021•24 min•Ep. 106
What can you still do before the year ends? David talks through four strategies that you’ll want to consider before the clock strikes midnight on December 31. Read more and get additional financial resources here: https://coveryourassetskc.com/episode-105-no-democratic-sweep-final-tax-strategies-of-2020/ What we discuss on this show: 0:23 - This is our final show of 2020. Ready for 2021! 3:43 - Biden will be taking over the presidency, but we don’t know yet about the Democratic sweep. 6:47 - Mak...
Dec 17, 2020•25 min•Ep. 105
What will happen to Social Security? Can you plan on it as a part of your retirement plan? How can you set realistic expectations for what’s to come? We’ll talk about this important piece of income planning. Read more and get additional financial resources here: https://coveryourassetskc.com/episode-104-are-you-counting-on-social-security/ What we discuss on this show: 1:13 - Should you count on getting Social Security? 4:25 - When will Social Security run out of money? 8:47 - Will my benefits b...
Dec 10, 2020•20 min•Ep. 104
Wondering what to do with your financial plan but don’t want to later regret it? Here’s a few things people never seem to come back and complain about. Read more and get additional financial resources here: https://coveryourassetskc.com/episode-103-things-nobody-says-about-their-financial-plan/ What we discuss on this show: 2:05 - What are some things nobody says? 2:35 - “I regret putting money into my Roth IRA every year.” 5:25 - “I should have spent more and saved less.” 7:36 - “The life insur...
Dec 03, 2020•21 min•Ep. 103
We cover one of David’s favorite topics while answering three questions from the mailbag today. From Roth conversions, investment choices, and pension decisions, we’ve got you covered when it comes to retirement planning. Read more and get additional financial resources here: https://coveryourassetskc.com/episode-102-whens-a-good-time-for-a-roth-conversion/ What we discuss on this show: 0:58 - Happy Thanksgiving! 2:31 - Mailbag: Is it a bad idea to do a Roth conversion on a high income? 7:50 - W...
Nov 24, 2020•21 min•Ep. 102
A lot has happened this year, particularly in the past few weeks. As 2021 approaches, how do we need to prepare? What’s significant about changing from one year to the next? What financial moves do you need to make now ? Read more and get additional financial resources here: https://coveryourassetskc.com/episode-101-end-of-year-financial-planning/ 2:17 - 2021 is around the corner. 4:07 - Tax moves you might want to make. 7:35 - What would happen if Biden increases the tax rate on long-term capit...
Nov 19, 2020•21 min•Ep. 101
How do you know when you have enough saved for retirement? How do you know when there’s enough left over to do something else like travel or take on a home renovation? We’ll answer your mailbag questions on today’s episode. Read more and get additional financial resources here: https://coveryourassetskc.com/episode-101-can-we-afford-to-do-this-and-still-have-enough-for-retirement/ What we discuss on the show: 1:04 - Today’s advice was recorded before the election. 1:47 - Mailbag: Will I spend mo...
Nov 06, 2020•20 min•Ep. 100
Do you have a will or trust? What part do they play in your financial plan? What mistakes do you want to be sure to avoid when setting them up? Read more and get additional financial resources here: https://coveryourassetskc.com/episode-99-understanding-and-implementing-wills-trusts/ What we discuss on this show: 2:40 - People often overlook estate planning. 3:24 - Why are wills and trusts important? 4:47 - How do you know if a will or trust is right for you? 6:55 - Is a trust just for money or ...
Oct 29, 2020•22 min•Ep. 99
Are you ready to put your knowledge of Social Security to the test? How does Social Security fit into your retirement plan? Take the quiz on today’s episode. Read more and get additional financial resources here: https://coveryourassetskc.com/episode-98-can-you-pass-this-social-security-quiz/ What we discuss on this show: 0:42 - David is putting co-host Walter to the test. 2:25 - What percent of Americans over age 65 receive Social Security? 3:36 - What’s the most common age for people to begin ...
Oct 22, 2020•27 min•Ep. 98
From Social Security benefits to long-term care coverage to incentivizing your children, we answer four questions from the mailbag today. David shares his advice for these listeners navigating different situations in their financial plan. Read more and get additional financial resources here: https://coveryourassetskc.com/episode-97-can-i-claim-ex-husbands-social-security-benefits-other-questions/ What we discuss on this show: 1:08 - Mailbag: How do you wisely handle sharing an unexpected inheri...
Oct 15, 2020•19 min•Ep. 97
