Cover Your Assets KC Podcast
Bite-sized financial and retirement planning guidance from David Dickens in Kansas City. Dave Dickens is the President of CreativeOne Advisors Group and is a Chartered Financial Analyst (CFA®). He has more than 35 years of experience in the investment business. Any references to KC Financial Advisors should now be understood as referring to CreativeOne Advisors Group. Investment advisory services are offered through CreativeOne Wealth, LLC, a Registered Investment Adviser. CreativeOne Advisors Group is a DBA of CreativeOne Wealth. Insurance services are offered through Licensed Insurance Professionals.
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Episodes
Thursday May 14, 2020
Thursday May 14, 2020
Are you using non-correlated income wisely? On this episode, David explains what non-correlated income is and how you should use it within your financial plan.
Read more and get additional financial resources here: https://coveryourassetskc.com/episode-76-understanding-non-correlated-income/
Today's show schedule:
0:22 - What is non-correlated income?
1:33 - Why is non-correlated income important?
2:45 - What are some examples of non-correlated income?
3:43 - How much of a retiree’s income should be non-correlated?
5:02 - What’s an example of someone who used non-correlated income to add stability to their retirement?
Thursday May 07, 2020
Thursday May 07, 2020
Just like you have a doctor to help you manage your health, a financial advisor helps manage your financial health. Let’s discuss some of the parallels between your relationship with your doctor and with your financial advisor.
Read more and get additional financial resources here: https://coveryourassetskc.com/episode-75-financial-lessons-from-the-world-of-medicine/
Today's show schedule:
0:35 - Even if you feel fine, it’s good to get a regular check-up.
2:51 - Sometimes you can self-diagnose your issues, and sometimes you can’t.
5:38 - Different specialists will perform different functions.
9:31 - A second opinion may make a big difference.
Thursday Apr 30, 2020
Thursday Apr 30, 2020
Do you actually need to have life insurance or is it just another expense? David talks through the importance of life insurance and how it might be worth having as a part of your financial plan.
Read more and get additional resources here: https://coveryourassetskc.com/episode-74-do-you-really-need-life-insurance/
Today's show schedule:
0:22 - Why is “life insurance” a bit of a dirty word to some people?
1:17 - How do you know if you actually need life insurance?
3:05 - What is the right amount of life insurance to get?
4:42 - What are some strategic uses of life insurance that might be less obvious?
5:55 - How does this relate to your retirement savings?
Thursday Apr 23, 2020
Thursday Apr 23, 2020
Between coronavirus fears and the current market volatility, how can you navigate this turmoil wisely? What should you be doing with your money?
Read more and get additional resources: https://coveryourassetskc.com/episode-73-coronavirus-the-economy-navigating-the-turmoil/
Today's show schedule:
1:04 - It’s a lot to navigate through this pandemic. No one knows how it will all unfold.
2:08 - There was a market crash and then a bounce back. Will the volatility continue?
3:40 - What caused the market to drop?
5:24 - What caused the bounce back?
8:05 - Is the bounce back sustainable?
10:34 - How do you invest amidst uncertainty?
13:02 - What do you do now with your money?
Thursday Apr 16, 2020
Thursday Apr 16, 2020
In response to coronavirus, the CARES Act has been passed. What will this mean for you and your financial planning? Let's look at the three biggest provisions in this stimulus bill.
Read more and get additional resources here: https://coveryourassetskc.com/episode-72-3-key-provisions-in-the-cares-act/
Today's show rundown:
2:11 - What are three key provisions in the CARES Act?
3:14 - Free money will be deposited into the bank accounts of most Americans.
7:21 - The tax filing deadline has been bumped back to July 15.
10:51 - RMDs are not required this year.
14:33 - Bonus: REAL IDs will have another year before being required for travel.
Thursday Apr 09, 2020
Thursday Apr 09, 2020
Sometimes you hear a quote that might have been said a long time ago, but it still rings true today. What quotes from Will Rogers apply when it comes to making financial decisions?
Read more and get additional resources here: https://coveryourassetskc.com/episode-71-financial-planning-wisdom-and-quotes-from-will-rogers/
Today's rundown:
0:36 - There are three kinds of men says Will Rogers. What are they?
2:46 - What’s the difference between death and taxes?
5:03 - Is satisfaction all there is to success?
7:01 - “It’s not what you pay a man, but what he costs you that counts.”
9:13 - Are you concerned about the return on your money?
Thursday Apr 02, 2020
Thursday Apr 02, 2020
When it comes to your financial plan, are you basing it off of facts or fiction? Consider the decisions you’re making and where you’re getting your information. We'll help you do that on this episode.
Read more and get additional resources: https://coveryourassetskc.com/episode-70-are-these-financial-views-fact-or-fiction/
Today's rundown:
0:29 - Fact or Fiction: Your Social Security is taxable.
2:22 - Fact or Fiction: Your taxes will likely be lower in retirement.
4:00 - Fact or Fiction: Term life insurance is better than whole insurance.
5:25 - Fact or Fiction: Medicare will cover most of your medical needs in retirement.
6:14 - Fact or Fiction: As you get older, you should gradually switch from stocks to bonds.
Thursday Mar 26, 2020
Thursday Mar 26, 2020
In March, we usually spend a lot of time paying attention to basketball. While it’s not on right now, let’s talk though some of the strategy behind the game as it applies in our own lives.
Read more and get additional resources here: https://coveryourassetskc.com/episode-69-finan…nd-off-the-court/
Today's rundown:
0:52- How does the shot clock in basketball relate to financial planning?
2:54- Do you have a plan for what happens with Social Security?
4:31- If you have a pension, how much do you want the surviving spouse to have?
6:51- When somebody commits a foul in basketball, what does that do to the team?
Thursday Mar 19, 2020
Thursday Mar 19, 2020
What can you do while the market goes downward? What kind of impact with the coronavirus make on your financial plan? Today we'll lay out three steps you can take in the midst of the volatility.
Read more and get additional resources here: https://coveryourassetskc.com/episode-68-coron…ntinues-downward/
Today's rundown:
0:28- Continuing the conversation about the coronavirus and economic uncertainty.
0:57- What does it mean to be uncomfortable financially right now?
3:28- Step 1: Don’t react emotionally.
6:26- Step 2: Understand exactly what you own.
7:26- Step 3: Review your plan and rebalance.
Thursday Mar 12, 2020
Thursday Mar 12, 2020
The market has fluctuated dramatically in recent weeks and we’ve seen much more down than up. What is causing this? Is it all about the coronavirus? Should we be concerned or do something different with our portfolios?
Read more and get additional resources here: https://coveryourassetskc.com/episode-67-coronavirus-market-volatility-3-reasons-stocks-are-down/
Today's rundown:
0:41 - People are worried about market volatility.
4:46 - Reason #1: The coronavirus has caused economic uncertainty.
6:57 - An oil trade war added to the economic uncertainty.
8:31 - Reason #2: Political uncertainty is occurring with the upcoming election.
10:39 - Reason #3: Excessive leverage
15:36 - What do you do if you’re nervous?