Cover Your Assets KC Podcast

Mailbag: Investing Extra Income and Handling an Inherited IRA

In this mailbag episode, David answers two practical listener questions about managing unexpected financial opportunities. One listener recently paid off their mortgage and now has an extra $3,000 per month to invest, while another is navigating the tax implications of inheriting an IRA. David walks through several potential options for putting extra cash to work- ranging from CDs and brokerage accounts to fixed annuities- while also clarifying the complex withdrawal rules tied to inherited retirement accounts.
Here’s some of what we discuss in this episode:
🏠 Ideas of what to do with extra monthly cash after paying off your mortgage📈 Investment options beyond retirement accounts, including brokerage accounts and ETFs🏦 The pros and cons of CDs, money markets, and fixed annuities🧾 How inherited IRAs are taxed and the potential impact of the 10-year withdrawal rule⚖️ Why timing withdrawals carefully could help reduce your overall tax bill
 
For additional resources or to contact David, visit us online at http://coveryourassetskc.com or call 913-317-1414.

Retirement Gray Areas That Matter a Lot

Financial media loves simple answers: always do this or never do that. But real financial planning doesn’t work that way. Most of the biggest decisions people face in retirement live in the gray. David pulls back the curtain on the sensational advice dominating YouTube and financial media. Instead of chasing rigid rules, he explains why thoughtful coordination across multiple planning areas could potentially produce better outcomes.
Here’s some of what we discuss in this episode:
⏱️ Roth Timing Window: Converting before RMDs increase income
📊 Tax Bracket Planning: Filling lower brackets strategically
🧩 Annuity Purpose: Guarantees vs market exposure
🔍 Annuity Fine Print: Caps, riders, surrender terms
🏠 Mortgage Tradeoffs: Interest rate vs emotional security
 
Investment advisory services are provided in accordance with a fiduciary duty of care and loyalty that includes putting your interests first and disclosing conflicts. Insurance services have a best interest standard which requires recommendations to be in your best interest. Advisors may receive commission for the sale of insurance and annuity products
 
For additional resources or to contact David, visit us online at http://coveryourassetskc.com or call 913-317-1414.

Inherited a House — Are the Taxes Really That Bad?

Inheriting a home often comes with a lot of anxiety, especially around taxes. Many heirs assume selling means a massive tax bill, but that concern is often misplaced. In this episode, David breaks down what really happens when you inherit a house, why taxes are usually less painful than expected, and what non-tax issues can complicate the decision. If you’re facing an inherited property, or expect to someday, this conversation brings clarity where many people feel overwhelmed.
Here’s some of what we discuss in this episode:
🏠 Inherited Home Anxiety: Why taxes are often overestimated
📊 Stepped-Up Basis: How value resets at inheritance
⏳ Sale Timing Matters: When waiting changes the outcome
⚠️ Beyond the Numbers: Additional issues you need to know 
👨‍👩‍👧 Family Dynamics: Navigating shared decisions
For additional resources or to contact David, visit us online at http://coveryourassetskc.com or call 913-317-1414.

How Much Life Insurance Is Enough at Each Stage of Life?

The amount of life insurance you need changes significantly as your life and responsibilities evolve. David shares practical considerations for thinking through coverage needs at different stages of life, from early adulthood through retirement years. Rather than focusing on one-size-fits-all answers, David offers general tips to help listeners think more clearly about how life insurance might fit into a broader financial picture.
Here’s some of what we discuss in this episode:
🛡️ Coverage Basics: General considerations for determining an appropriate amount of life insurance
🧩 Life Factors: How income, family responsibilities, and financial obligations may influence coverage needs
📈 Peak Responsibility Years: Common planning considerations during working and family-raising years
⏳ Later-Life Coverage: How life insurance needs often shift in the late 50s and early 60s
👪 Legacy Planning: Using life insurance thoughtfully when considering heirs and long-term goals
 
For additional resources or to contact David, visit us online at http://coveryourassetskc.com or call 913-317-1414.

5 Steps To Take If You’re Behind On Your Retirement Savings

Feeling behind on retirement savings can be overwhelming, but it doesn’t mean you’re out of options. In this episode, David walks through five practical steps to help you regain clarity and momentum, whether you’re early in your career or approaching retirement. From tracking spending habits to maximizing workplace retirement plans, this episode focuses on actions you can actually control.
 
Here’s some of what we discuss in this episode:
🧮 How to determine if you’re truly “behind”
📊 Getting a clear snapshot of your net worth
💳 Identifying spending patterns that are holding you back
🔁 Maximizing your workplace retirement savings
📝 Why having a written retirement plan can change everything
 
For additional resources or to contact David, visit us online at http://coveryourassetskc.com or call 913-317-1414.

5 Major Events From 2025 That Impacted Retirement Plans

Today, David is breaking down some of the year’s biggest headlines and what they may mean for your plan moving forward. 2026’s headlines might look different, but the same drama will likely exist. So, what can you do? Aim to control your plan, your savings habits, and your long-term strategy. That’s what can help turn a chaotic year into a confident retirement path.
 
Here’s some of what we discuss in this episode:
🌍 Tariffs: market volatility and uncertainty spikes
📈 Inflation: persistent pressure on household budgets
🏦 High-Yield Savings: interest rates and cash decisions
🧾 Tax Changes: implications of the Big Beautiful Bill
🛟 Emergency Funds: lessons from the government shutdown
🔮 Looking Ahead: planning with perspective into 2026
 
For additional resources or to contact David, visit us online at http://coveryourassetskc.com or call 913-317-1414.

Better Retirement Questions (Part 2): Five Smarter Ways to Think About Your Future

Most people ask good retirement questions, but not always the right ones. In Part 2 of this series, David Dickens shares five more “better questions” pulled straight from real client meetings, revealing how small shifts could lead to better retirement decisions.
From Social Security timing to mortgage payoff strategies and more, we’ll explain how reframing the way you ask the question might change the quality of the answer.
This episode is straightforward and addresses many of the nuances retirees might miss when they think in terms of black-and-white choices.
Here’s some of what we discuss in this episode:
🧓 Social Security Isn’t 62 vs. 70
🏠 Mortgage Payoff Decisions Need Context
📉 You Can’t Avoid Risk — But You Might Be Able to ‘Right-Size’ It
🔒 Does Cash Help Provide Safety?
📅 Meeting Frequency Isn’t the Point
 
For additional resources or to contact David, visit us online at http://coveryourassetskc.com or call 913-317-1414.

Why Better Questions Helps Build Better Retirements

Sometimes the smartest move in retirement planning isn’t knowing all the answers. It’s about learning to ask better questions.
In this episode of Cover Your Assets KC, David walks through five common financial questions people ask, and then explains how to reframe them to get better results. From “How much money do I need to retire?” to “Where can I pay the lowest fees?”, we’ll explain how slight shifts in perspective can help lead to stronger, more personalized decisions.
Here’s some of what we discuss in this episode:
🩺 Long-Term Care Choices: Self-insure, insure, or blend options — it’s not just a yes/no decision.
📈 Chasing Returns: Why diversification matters when it comes to long-term performance.
⚖️ Fees vs. Value: Why “cheapest” isn’t the same as “best” when hiring a financial advisor.
🕰️ Tax Timing: Don’t just lower taxes this year — plan to reduce them for life.
🧠 Smart Strategies: Roth conversions, HSAs, and charitable distributions for lifelong tax efficiency.
 
For additional resources or to contact David, visit us online at http://coveryourassetskc.com or call 913-317-1414.

Do Your Feelings Belong in Your Financial Plan?

Most people think financial planning is about calculators, spreadsheets, and strategies. But that’s only half the story. The fact is, your feelings about money can have just as much impact on your retirement as the numbers do. Today, David explores the emotional side of planning and how your legacy goals can be shaped by what you feel, not just what you know.
Here’s some of what we discuss in this episode:
🧩 Whole-Person Planning: Why you want your plan to align your money with your mindset
⚖️ Simple or Complex?:  Simplicity in investments can be smarter than complexity
💳 Debt Decisions: Navigating emotional comfort around carrying debt in retirement
📉 Market Emotions: Managing anxiety and confidence through volatility
🎯 Risk Tolerance: How feelings shape your comfort with market ups and downs
 
For additional resources or to contact David, visit us online at http://coveryourassetskc.com or call 913-317-1414.

Is Now the Time to Invest More in Bonds?

Before we get started, please note that when we use the terms ‘safe,’ ‘safety,’ or ‘safe money’ in today’s discussion, we’re referring generally to strategies designed to help manage risk, not to any product or investment that is guaranteed or free from loss or any other risks. All investments involve risk, including possible loss of principal. While some products may offer a level of protection against market losses, they may involve numerous other risks, such as interest rate risk, liquidity risk, inflation risk, credit risk, and more. Listeners should consider their own financial situation and consult a qualified professional before making any financial decisions.
Bonds used to be the ‘boring’ part of a portfolio; considered conservative, steady, and not very exciting. But with yields at multi-decade highs, a lot of people are asking: is now the time to give bonds a bigger role in your investment strategy? David breaks down whether now may be a good time to add more bonds to your portfolio and how today’s higher yields impact both risk and opportunity. Bonds can provide income, balance, and confidence but they’re not one-size-fits-all. Before you ‘go all in,’ make sure the mix fits your long-term plan.
Here’s some of what we discuss in this episode:
💡 Bond Basics: understanding risk, liquidity, and yield (the “SLY” principle)
💥 Interest Rate Risk: why longer bonds can lose value as rates rise
📉 Short vs. Long Bonds: when short-term holdings might make more sense
⚖️ The Rule of 100: a timeless framework for balancing growth and protection
🔁 The 60/40 Portfolio Revisited: how higher yields change the conversation
 
For additional resources or to contact David, visit us online at http://coveryourassetskc.com or call 913-317-1414.