Cover Your Assets KC Podcast

Episode 116: 4 Steps to Help You Plan Ahead for Taxes in Retirement

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 in?
13:05 - How would someone use those accounts to build their retirement?
17:50 - What’s the most efficient way to manage these accounts?

Episode 115: 5 Keys to a Strong Financial Foundation

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 control of your checking and savings accounts.
4:50 - Do you have a workplace retirement account?
8:44 - If no workplace retirement account, do you still have a retirement account?
11:28 - Make sure you have life insurance.
17:56 - Should you have a taxable brokerage account?

Episode 114: Mailbag - Save Up for Rental Property or Pay Off House?

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 I use a robo-advisor tool to invest my HSA? 
22:50 - What’s the most important thing to do financially when you’re young?

Episode 113: 5 Things to Know About Capital Gains

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 gain?
5:55 - Which one is better?
6:22 - Does it change if you’re in a Roth IRA or traditional IRA?
10:00 - What happens if you sell something at a loss?
13:29 - What do you need to know about annuities? 

Episode 112: Types of Financial Risk to Watch Out For

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
12:10 - Inflation risk
16:14 - Tax rate risk
22:40 - Longevity risk 

Episode 111: The Story Behind GameStop Stock

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 does Reddit and GameStop have to do with a short stock?
10:18 - What made this become a big story in the news?
14:54 - GameStop was only the beginning.
18:47 - Were any of David’s clients impacted by that market volatility?

Episode 110: Financial Resolutions - Answering Your Questions

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 you want to be?
12:24 - Mailbag: Should I be concerned about my retirement if my net worth didn’t grow last year?
16:00 - Looking at the net worth statement gives you forward momentum.
18:25 - Mailbag: Am I falling behind if I haven’t started saving for retirement at age 32?
19:25 - What can you do if you don’t have a 401(k)?

Episode 109: SLY - Safety, Liquidity, and Yield

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 once?
6:27 - What’s a balanced portfolio look like?
9:22 - What types of annuities could be considered?
11:17 - What qualities does real estate have?
14:34 - How does David help clients find the right balance?

Episode 108: 5 Important Retirement Statistics

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?
2:29 - 17 percent of American workers are confident they’ll have enough money in retirement.
7:27 - The average 65-year-old woman has a life expectancy of 20.7 more years.
9:31 - 16.5 percent of our population is over age 65.
11:58 - The average retiree will spend almost $300k for out-of-pocket medical expenses.
15:47 - 90 percent of people over 60 years old say a written plan is important.

Episode 107: 2021 New Year's Financial Resolutions, Part 2

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 you can.
7:11 - Are you taking advantage of systematic savings? 
12:36 - Have you done your annual net worth statement?
19:17 - Have you checked your beneficiary designations?