Cover Your Assets KC Podcast

Episode 170: Understanding Financial Jargon

Instead of pretending to understand these terms, let’s break it down and learn together what this financial jargon means and how it impacts you.
 
What we discuss on this episode:
0:33 - There’s always something to look forward to!
2:20 - What financial jargon should we know more about?
3:44 - What causes inflation? 
8:08 - What does a recession look like?
13:36 - How does dollar-cost averaging work?
17:01 - What are bonds vs. stocks?
21:27 - What are the rules with capital gains and losses?
 
Get additional financial resources here: https://www.coveryourassetskc.com/podcasts

Episode 169: 5 Things to Know About Qualified Charitable Distributions

What’s a QCD and how might it benefit you? David talks through the ins and outs of qualified charitable distributions on today’s show.
 
What we discuss on this episode:
1:18 - What is a QCD?
4:54 - How much can you give with a QCD?
5:34 - Can it be done from a 401(k)?
6:24 - Where can it go?
8:38 - How does it work at tax time?
10:05 - When should you do it?
11:32 - Is it only for people who have RMDs? 
 
Get additional financial resources here: https://www.coveryourassetskc.com/podcasts

Episode 168: The Most Important Birthdays In Retirement Planning

After you blow out the candles, what do you need to know as you cross the threshold of certain birthdays in your life? David shares important ages when financial planning.
 
What we discuss on this episode:
0:30 - How do we feel about that final NCAA tournament game? 
3:01 - What should you be aware of around 30 years old?   
4:18 - What can you do at age 50?
7:17 - What happens at age 55?
9:14 - By 62, what options do you have?
12:11 - At 65 you’re eligible for Medicare.
13:02 - What’s important about 66 and 67?
14:31 - You can delay Social Security benefits until 70.
15:04 - RMDs start at 72.
18:16 - What age is most important?
 
Get additional financial resources here: https://www.coveryourassetskc.com/podcasts

Episode 167: 8 Key Steps to Organizing Financial Records

We all have important papers, but how do you know what you really need vs. what you can toss? David shares what to shred and what to hold onto when it comes to your financial records.
 
What we discuss on this episode:
1:45 - What should you do with investment statements?
4:37 - Should you keep bank statements? 
7:08 - How long do you need your tax records?
8:39 - Do you need current year’s tax return documents?
10:50 - Birth certificates and Social Security cards are tough to replace.
13:22 - Wills and estate planning documents should be kept.
14:30 - Home improvement documents should be kept as long as you own the house.
16:59 - Receipts for valuable items you have should be kept.
 
Get additional financial resources here: https://www.coveryourassetskc.com/podcasts

Episode 166: Financial Documents Needed Through Your Life Stages

What financial documents do you most need, based on where you are in life? David points us toward the right ones you want to focus on in your life stage.
 
What we discuss on this episode:
0:28 - March Madness is here!
2:06 - Which financial documents do you need in which life stage?
3:46 - Do you have the right beneficiary designations listed?
8:49 - If you own a home, who is it set to go to?
9:51 - Do you have financial goals?
12:45 - Do you have a will in place?
16:30 - Who will speak for you if you can’t? 
18:06 - Do you have a living will?
20:27 - What do you need ready in your 50s and into retirement?
 
Get additional financial resources here: https://www.coveryourassetskc.com/podcasts

Episode 165: Understanding Financial Designations

What do all those letters and terms following an advisor’s name mean? We explain what you need to know and what’s important when it comes to designations in the financial industry.
 
What we discuss on this episode:
 
0:35 - What do all those financial advisor designations mean?
2:13 - What does IAR or RIA mean?
5:26 - What does the letter “C” stand for in these designations and why should I care?
12:28 - What does a “series” mean when promoted by an advisor?
16:12 - Does a financial advisor need a certain college degree?
18:30 - What designations should an advisor have to prepare someone for retirement?
 
Get additional financial resources here: https://www.coveryourassetskc.com/podcasts

Episode 164: Mailbag - How Much Can I Spend Yearly and Not Run Out of Money?

Today, we are answering some more mailbag questions from our listeners. How much can you spend without running out of money? How does a 401(k)-rollover work? We’ll answer these and more on today’s show.
 
What we discuss on this episode:
0:38 – How is David doing?
2:00 – “How much can I spend yearly without running out of money?”
5:55 – “I have all my money in an IRA; should I move it somewhere else?”
9:36 – “How do I reduce the risk in my portfolio?” 
13:27 – “How does a 401(k)-rollover work?”
 
Get additional financial resources here: https://www.coveryourassetskc.com/podcasts

Episode 163: Mailbag - Should I Care About What the Fed is About To Do?

How closely should you pay attention to what is happening with the Fed right now? David answers this and two other questions from the mailbag on today’s podcast
 
What we discuss on this episode:
0:54 - Should I care about what the Fed is about to do?
7:29 - Will my Social Security checks get smaller if I don’t withdraw soon? 
13:18 - Will this downturn be similar to 2001 or 2008? 
 
Get additional financial resources here: https://www.coveryourassetskc.com/podcasts

Episode 162: The Most Important Part of Retirement Planning

Just what matters most when it comes to planning and saving toward your retirement? We compare notes between a number of experts and David weighs in on how and where to focus your efforts.
 
What we discuss on this episode:
0:23 - It’s still snowing!
1:59 - What is the most important part about retirement planning?
3:16 - Decide what you want to do with your time.
5:55 - Start now.
8:28 - How much you’ll spend in retirement is hard to predict.
11:00 - Are proper allocations arguably the most important step?
12:55 - Is your retirement fulfilling?
15:14 - Picking the right planner makes all the difference.
16:59 - What does David say is most important?
 
Get additional financial resources here: https://www.coveryourassetskc.com/podcasts

Episode 161: Updates to Rollovers and Required Distributions

Are you ready to do a rollover or dreading the need to do a required distribution? David explains some recent updates that may make this a bit easier for you.
 
What we discuss on this episode:
0:30 - Today we’ll talk about something for everyone. 
1:09 - What recent changes have been made?
2:30 - Why does the life expectancy table change matter?
7:34 - How can you do an IRA rollover without issue?
10:45 - David shares a client example of a rollover. 
 
Get additional financial resources here: https://www.coveryourassetskc.com/podcasts