Cover Your Assets KC Podcast
Bite-sized financial and retirement planning guidance from David Dickens in Kansas City. Dave Dickens is the President of KC Financial Advisors and is a Chartered Financial Analyst (CFA). He has more than 35 years of experience in the investment business.
Listen on:
Episodes
Thursday Jul 28, 2022
Thursday Jul 28, 2022
Wondering what you need to know about a bear market, a mutual fund, or a recession? David tackles these sometimes confusing topics and shares the essentials you should know.
What we discuss on this episode:
0:46 - The Chiefs are getting up and running again!
1:20 - Let’s talk about some financial jargon.
2:05 - What should you know about bear and bull markets?
6:07 - Why is diversification important?
12:10 - A lot of people are talking about a recession.
15:13 - What’s the difference between mutual funds, ETFs, and target date funds?
20:17 - 401(k) vs. Roth IRA vs. IRA?
Get additional financial resources here: https://www.coveryourassetskc.com/podcasts
Thursday Jul 21, 2022
Thursday Jul 21, 2022
Is now the right time to do a Roth conversion? David talks about which questions to ask before making the move.
What we discuss on this episode:
1:53 - Am I too old for a Roth conversion?
3:52 - What’s my tax rate?
9:07 - When will I start to need money from my IRA?
11:07 - Do I have non-IRA money to pay the tax?
15:19 - Taxes are low now but 2025 is right around the corner.
Get additional financial resources here: https://www.coveryourassetskc.com/podcasts
Thursday Jul 14, 2022
Thursday Jul 14, 2022
Is now the time to sell or time to stay put with your investments? David shares what to look for to determine when we’ve hit the bottom and when to invest.
What we discuss on this episode:
0:24 - It’s the dog days of summer!
1:38 - What do the experts say about the market?
4:26 - Is it too late to sell?
13:11 - Should we continue to buy even as it goes down?
Get additional financial resources here: https://www.coveryourassetskc.com/podcasts
Thursday Jul 07, 2022
Thursday Jul 07, 2022
Following some of our recent podcast topics, David answers a few questions from listeners wanting to get more information. Then, David shares his thoughts on untrustworthy advisors and what to do to avoid them.
What we discuss on this episode:
0:41 - David loves listener questions.
1:13 - Mailbag: What is the IRS requirement about the wash sale rule?
4:36 - Mailbag: When can I offset gains with losses?
14:03 - What does David think of advisors that take advantage of clients?
Get additional financial resources here: https://www.coveryourassetskc.com/podcasts
Thursday Jun 23, 2022
Thursday Jun 23, 2022
Should you be considering a Roth conversion right now? David talks about the unique opportunities that a bear market provides.
What we discuss on this episode:
1:20 - Let’s talk about one of David’s favorite topics!
1:48 - What is a Roth conversion?
5:08 - Why would someone want to do a Roth conversion?
7:06 - How does a bear market impact a Roth conversion?
9:03 - Don’t wait for a market recovery.
14:16 - Should you take advantage of the opportunity?
Get additional financial resources here: https://www.coveryourassetskc.com/podcasts
Thursday Jun 16, 2022
Thursday Jun 16, 2022
What’s the silver lining in a down market? David shares what might be a benefit to you, despite the losses you may currently face.
What we discuss on this episode:
0:49 - Listener feedback is always welcome.
1:49 - How should we look at taking losses in our portfolio?
3:12 - What are the basic types of accounts and which one are we talking about?
7:41 - Why talk about it now?
Get additional financial resources here: https://www.coveryourassetskc.com/podcasts
Thursday Jun 09, 2022
Thursday Jun 09, 2022
Is the economy making you nervous right now as you near retirement? What can you do right now to keep your investments and your sanity intact?
What we discuss on this episode:
0:27 - Are you almost retired and worried about the market?
2:30 - Do you have a plan for your money right now?
8:20 - People sell out of fear. What can you do instead?
19:43 - What should you do now?
Get additional financial resources here: https://www.coveryourassetskc.com/podcasts
Thursday May 26, 2022
Thursday May 26, 2022
No one wants to make a mistake when it comes to their hard-earned money! David talks through common mistakes people make with an IRA and how to avoid them.
What we discuss on this episode:
0:32 - Let’s talk about common IRA mistakes.
2:28 - Worried about the five year rule?
5:37 - Is your 401(k) diversified before you retire?
7:56 - Are you being strategic about RMDs?
13:17 - There’s no do-over on the 60-day rollover.
18:05 - There is no 60-day rollover on inherited IRAs.
Get additional financial resources here: https://www.coveryourassetskc.com/podcasts
Thursday May 19, 2022
Thursday May 19, 2022
Housing is a really important topic for a lot of retirees because, for many of us, it’s the biggest asset we’ll ever own or manage. We want to get that part of our financial equation correct, so it’s no surprise it takes up a nice slice of the retirement planning conversation. On this episode, we’ll cover some common housing questions from retirees and hopefully hit on an issue that might also be on your mind.
What we discuss on this episode:
0:36 - How is David celebrating his upcoming birthday?
2:47 - Let’s talk about your home.
4:30 - Interest rates are low(er) right now.
7:58 - Is it wise to downsize?
11:02 - Should you get a home equity line of credit?
14:25 - Is it a good idea to sign over your home to an heir?
17:30 - How is your home set up within an estate plan?
19:54 - Are reverse mortgages a good idea?
Get additional financial resources here: https://www.coveryourassetskc.com/podcasts
Thursday May 12, 2022
Thursday May 12, 2022
What’s the average amount some have saved? How many people plan to work in retirement? We talk through recent financial statistics to give you an idea of what matters and what isn’t a great marker of financial success.
What we discuss on this episode:
0:57 - Women have smaller overall retirement savings amounts.
5:25 - Experts estimate you’ll need $1.04 million to have a comfortable retirement.
8:44 - 55 percent of American workers plan to continue working in retirement.
10:27 - 25 percent of Americans increased savings as a result of the pandemic.
12:20 - The number of retired workers receiving Social Security benefits was almost 70 million in 2021.
17:07 - Retirees spent an average of $6,668 on healthcare in 2020.
Get additional financial resources here: https://www.coveryourassetskc.com/podcasts