Quote: Nelson Mandela once said: “I learned that courage was not the absence of fear, but the triumph over it. The brave man is not he who does not feel afraid, but he who conquers that fear.” Kim "KC" Campbell - "Fear can prevent us from achieving success or it can lead us to a greater path of growth and change if we harness it effectively." Your story: Mother and father...encouraging You developed a higher calling, higher purpose...? Air Force Academy, the first time that a father and daughter...
Feb 24, 2023•1 hr 2 min•Season 1Ep. 51
Dave Goetsch shares his fascinating story about his investing experience and journey. He started as an investor that was emotionally tied to every up and down the stock market experienced. He was known as the “Chief Worrier.” Through his own studies and the counsel of his financial advisor, he’s more at peace with the short-term craziness of the stock markets, and continuous news headlines of impending doom we all seem to hear daily. In many ways, Dave’s journey is very similar to all of ours. H...
Feb 10, 2023•1 hr 31 min•Season 1Ep. 50
Airline News Delta Airline Pilot Contract Updates: https://www.cnbc.com/2022/12/03/delta-pilots-would-get-more-than-30percent-in-pay-raises-under-new-contract-deal.html The agreement includes an 18% increase on the day the contract is signed, then a 5% increase one year later and two 4% raises in each of the following years. It also includes a one-time payment of 4% of 2020 and 2021 pay each, plus 14% of 2022 pay. Being a Father: https://vitaliy.substack.com/p/being-a-father?utm_source=emarketin...
Jan 27, 2023•42 min•Season 1Ep. 49
Flight #48: New 401k, IRA Limits New SECURE ACT 2.0 A Airline News: New IRA, 401k 401(a)17 and 415 Limits Secure Act 2.0 Highlights: Setting Every Community Up for Retirement Enhancement (SECURE) Act...originally passed in December 2019. December 23, 2022, passed the Consolidated Appropriations Act of 2023, an omnibus spending bill that includes the much anticipated and long-awaited retirement bill known as SECURE Act 2.0. RMD 73,75...plus reduced penalty 73-1951-1959 / 1960+ RMD 75 ▪ What does ...
Jan 13, 2023•45 min•Season 1Ep. 48
Q&A: Most common client questions lately: The whole world is going into a recession! What is a recession? Schwab “dominoes” diagram...there’s only a few things missing to be in a recession – Labor market weakness, EPS growth falls, NBER (Nat’l Bureau of Economic Research) recession declared. See Flight #33 for “Inverted Yield Curve – Canary in the Coal Mine.” https://podcasts.apple.com/us/podcast/inverted-yield-curve-canary-in-the-coal- mine/id1557278856?i=1000564180334 So, what does this me...
Dec 30, 2022•41 min•Season 1Ep. 47
Resources: https://awealthofcommonsense.com/2013/08/ignore-noise/ https://podcasts.apple.com/us/podcast/stay-wealthy-retirement- show/id1260181429?i=1000470057040 The Narrative There’s a lot going on...in the past few years; Covid, Stock Market stress, impending recession, inflation, politics...crypto collapse??? Our audience is especially vulnerable to information (news) overload: Traveling; downtime pick up the phone and review news, talk about it during the 3-hour flight, TV on in the hotel r...
Dec 16, 2022•45 min•Season 1Ep. 46
Q&A: Most common client questions lately: Election Lessons Learned: “Vote with your ballot not yourlife savings.” ~Dimensional founder David Booth https://my.dimensional.com/elect-to-leave-your-portfolio-alone Will the stock market do worse now that xxx party has won and the election is over? What do the numbers show? Does the stock market do better or worse when “X” party is in office, power? Lessons learned – do not anticipate or try to outguess the markets. Maintain discipline. Lots of ad...
Dec 02, 2022•45 min•Season 1Ep. 45
Q&A: Most common client questions lately: Will I have to change my retirement goals or retirement income due to the down market? Short-term risk versus long-term risk, taxes, inflation, overspending Sequence of return risk... https://www.schwab.com/learn/story/timing-matters-understanding-sequence-returns-risk Worst year ever for bonds? https://www.advisorperspectives.com/articles/2022/10/17/six-good-things-to-tell-clients-about-this-horrible-market Article: “Six Good Things to Tell Clients ...
Nov 18, 2022•34 min•Ep. 44
Information about today’s podcast: Dimensional Fund Advisors (DFA) - https://us.dimensional.com/ “The assets we(DFA)manage represent more than shares in a portfolio. That money represents the savings, sacrifice, and dreams that investors have entrusted to us. We take this responsibility seriously. Founded in 1981, Dimensional has a long history of applying academic research to practical investing. We offer a full range of equity and fixed income strategies designed to target higher expected retu...
Nov 04, 2022•1 hr 1 min•Ep. 43
Q&A: Most common client questions lately: Headline of the day! (See slide...) https://www.jpmorgan.com/wealth-management/wealth-partners/insights/the-case-for-always-staying-invested#infographic-text-version-uniqId1663780633203 This chart shows the annualized performance of a $10,000 investment made between January 2002 and January 2022. A fully invested investment returned 9.4% or $60,253. When the investor missed the 10 best days, the return is 5.21% or $27,604. When the investor missed th...
Oct 21, 2022•51 min•Ep. 42
15 Lessons Aviation Can Teach You About Life: 1. You are responsible. 2. Attention is life. Inattention will be at least minimally harmful if not deadly. 3. There is always a curriculum. Preparation is advised. 4. A well-lived life, like flying, requires constant adjustments. 5. Think before you speak or key the mic. .... Listen for more. Q&A: Most common client questions lately: o Headlines – Beware! ▪ See housing market headline from Redfin o Headlines are meant to make you fearful. They h...
Sep 23, 2022•50 min•Season 1Ep. 41
Financial Q&A: Most common client questions lately: 1. How to get some sort of return/interest for short-term goals? 1-5 years? a. I-Bonds: Currently paying an annualized 9.62% for the next six months. https://www.treasurydirect.gov/indiv/research/indepth/ibonds/res_ibonds_iratesandterms.htm#:~:text=The%20composite%20rate%20for%20I,October%202022%20is%209.62%20percent . b. Treasury Bills: Payingabout 2.8%-3.4% depending on the term. https://ycharts.com/indicators/3_month_t_bill https://ychar...
Sep 09, 2022•39 min•Season 1Ep. 40
The Basics of Roth Conversions 1. In General, young, lower income (e.g., new First Officer) expect a higher tax bracket in retirement...Roth can be a no-brainer. a. But there are other very important considerations that may go against this rule of thumb. 2. Important to know – Everyone, regardless of income, can contribute to an after-tax or nondeductible IRA. 3. What are my options if I only have pre-tax IRAs? a. Convert the pre-tax IRA to a Roth IRA, and you will be taxed at your marginal inco...
Aug 26, 2022•40 min•Season 1Ep. 39
In this podcast, we discuss steps to maintain a high-performance, high-energy lifestyle as we get older. More specifically, creating a life where you feel great, more fulfilled, and more joyful as well as creating a legacy with not just your wealth but your health and outlook on life for generations to come. Our audience is high-performing professionals and pilots, BUT we all go through times where we are not performing at our peak; mentally, spiritually, physically. Especially as we age... Now ...
Aug 12, 2022•57 min
Leading Edge’s own, co-founder and CFO, Kevin “The Professor” Gormley, CPA, PFS, CFP® is our special guest today. We think of a 5-year runway to take off for retirement. It can take that long to mentally prepare for the end of your career. It also may be enough time until retirement to make significant course corrections if necessary. At a minimum, this is the time to make sure you run that last Before Takeoff (retirement) checklist, and you are ready for a great retirement! A quick peek into th...
Jul 29, 2022•39 min
In this episode, the Pilot Money Guys are talking about Value investing. We describe what value investing is, and talk about lessons learned as investors in value companies. Value Investing and Lessons Learned Even though past returns are not indicative of future performance, Value investing has shown to do well during periods of higher inflation. The recent poor performance of Value investing is almost unprecedented. Therefore, making it difficult to stick with a disciplined, diversified portfo...
Jul 15, 2022•29 min
In this episode of the Pilot Money Guys we sit down with Peachez, aka Micah Porter. Micah is a former Top Gun Navy fighter pilot turned Air Force fighter pilot and current UPS pilot who sheds light on what its really like in Top Gun and how he rates Tom Cruise's performance in the new movie. We hope you enjoy a break from the financial topics - this is a fun one! We'll be back next time talking Value Investing on the next episode. Thanks for listening! The Pilot Money Guys
Jul 01, 2022•35 min
We’re calling this episode of the pilot money guys “Forever in Blue Jeans” because as the famous song goes: “Money talks But it don't sing and dance and it don't walk And long as I can have you here with me I'd much rather be forever in blue jeans” In this episode we discuss the Florida man who lands a plane with no experience, we have a Q&A segment, and we have a heart felt discussion about creating lasting and fulfilling success with finances. Thank you for listening!...
Jun 17, 2022•43 min
In this episode of the pilot money guys, we are talking about the yield curve inversion that has been the topic of many new articles recently. If you’re unfamiliar, an inverted yield curve is supposed to be the magic predictor of a looming recession. Recently the yield curve inverted, so is a recession on the horizon? Charlie and Rob dive into the yield curve topic and cover in this discussion: What is a yield curve? What if it points to a recession every time? If it was 100% reliable, would tha...
May 27, 2022•36 min
We’re all going to die... Someday. Yes, this is not a fun topic to cover, but unfortunately we’ve dealt with a few deaths over the last 12 months and we want to talk about the lessons we’ve learned. We get philosophical in this one, but we think it’s extremely important! Top 5 things to do to make sure you take care of loved ones when you’ve gone: Beneficiaries Life Insurance How do you access each account? Where are physical documents located? Accounting – Financial Assets and Liabilities Devel...
May 20, 2022•43 min
The majority of 401(k) plans are invested in Target Date funds. These funds give diverse exposure in stocks and bonds, and as we get closer to the target retirement date, the fund automatically adjusts as to be more conservative. This has helped many people to avoid the stress of picking funds in their retirement plan, as well as helping to protect the funds as retirement gets closer. Many times, these funds has low expenses, and they often get close to market returns. So, are these funds right ...
Apr 28, 2022•40 min
In this episode of the Pilot Money Guys, we discuss the Frontier - Spirit Airlines merger, where investment returns come from, and why Cowbell should permanently replace Rubber Mallet. (Ok maybe not this...). In this podcast, we are joined by Carson McLean, CFP®. Carson is a regional director with Dimensional Fund Advisors, and a true expert in the industry. We're so excited to share our conversation and want to give a big thank you to Carson for joining us. We cover everything from callsigns to...
Apr 19, 2022•58 min
In this episode, we are joined by The Professor aka Kevin Gormley CPA, CERTIFIED FINANCIAL PLANNER®. Where we discuss: The airline news segment for this podcast is on China’s Eastern Airline flight 5735, where we break down what we know so far. When rising inflation is coupled with slow economic growth and increased joblessness, that is known as Stagflation. Just recently the billionaire investor Ray Dalio said that we he believes we will have a period of Stagflation. So, is stagflation looming ...
Apr 12, 2022•47 min
We’re back in action with a new episode (recorded 3/11) of the Pilot Money Guys. In this episode Rubber Mallet is replaced by Cow Bell, the topic is the news of the markets: Russian’s Invasion of Ukraine, and Charlie tells us about getting chased by a lion, a water buffalo, and a hippo. On Ukraine and Russia: What can history tell us about investing through conflicts? What is the economic scale of the conflict? What do we expect from the markets going forward? What is the real risk in the market...
Mar 31, 2022•44 min
A special episode of The Pilot Money Guys featuring an interview with Amelie Riendl: Amelie is a Financial Coach at Mil Money Coach and has spent years studying the best methods for budgeting. She graduated from Michigan Technological University, where she gives back to every year. She has a Master of Engineering in Chemical Engineering from Princeton University. She's worked for Johnson and Johnson as a Senior Scientist and Quality Engineer where she won multiple awards. She is a Project Manage...
Feb 25, 2022•57 min
We often have clients contact us with unique investment ideas. We will evaluate them and give out honest thoughts and concerns. One of the more popular ‘investments’ that we have seen lately is insurance products that are pitched as investments. So, is it possible to use insurance as an investment? That would be the best of both worlds, right? Today, the Pilot Money Guys are joined by Kevin Gormley, aka the Professor, to discuss the idea that you can use insurance as an investment. We talk about...
Feb 10, 2022•44 min
Why are the markets down year to date and what can we do about it? In this episode, the Pilot Money Guys reflect on the volatility that has been going on in the markets this year. We discuss the craziness with the ongoing situation in Ukraine, the Fed’s new changes, and inflation and how those are affecting the market. We are talking about 7 action items that you can do to in a market downturn. Tax loss harvesting Roth conversions Rebalance AND rebalance into the pain. Accelerate savings – 401k,...
Jan 31, 2022•43 min
Over the years, Charlie has tracked and compiled financial news headlines that made bold predictions. Looking back on them is comical - only in hindsight - the predictions were ridiculous. However, at the time of the articles were published, these headlines were straight-up scary. In this podcast we are talking: How do people get their news - specifically financial news? CNBC, FoxBusiness, Twitter? What are the biases? What about the Confirmation Bias? How can this biased information be a detrim...
Jan 19, 2022•47 min
Happy New Year! It’s time to review our mission! Our mission is, “To help our clients build and protect wealth to achieve their dreams and goals.” Building wealth may actually be the easier part of that equation. Of course, it may not be easy but saving for the future is often started by default. 401(k)s are automatically set up with companies from the get-go and investing is automated. Social security is automatically deducted from your pay checks and will be paid to you in retirement. Most of ...
Jan 05, 2022•47 min
We're back with another checklist! But first, we honor the women listeners of the Pilot Money Guys podcast with a call sign reveal for a special listener Dr. Jane, aka call sign Arc! Since you loved the Quick Reaction Checklist so much, we thought we'd keep with the trend and bring you a podcast on the End-of-year Financial Checklist. Every year there are things you should consider doing before the end of the year, here's what we think you should review before the end of 2021! 1. Max contributio...
Dec 22, 2021•40 min
