This week's blogpost - https://bahnsen.co/47bXUEB The Power of Expectations in Life, Finance, and Happiness In this episode of the Thoughts on Money (Tom) podcast, hosted by Trevor Cummings with guests Blaine Carver and Sean Latimer, the focus is on Trevor's article titled 'What to Expect When You're Expecting.' The discussion explores the impact of expectations on various aspects of life, including relationships, happiness, and investments. They delve into how expectations can shape experiences, using examples from personal anecdotes and the stock market. The conversation also touches on the importance of understanding market efficiency, emotional investment, and the distinction between investing and speculating. The episode emphasizes the critical role of managing expectations for achieving financial and personal satisfaction. 00:00 Introduction and Greetings 00:13 Discussing Expectations 03:22 The Impact of Expectations on Happiness 05:47 Expectations in Finance 07:59 Efficient Market Hypothesis 24:08 Speculation vs. Investing 26:58 Conclusion and Final Thoughts Links mentioned in this episode: http://thoughtsonmoney.comhttp://thebahnsengroup.com

This week's blogpost - https://bahnsen.co/3Z6Nowf Understanding the Power of Compounding and Legacy Planning In this episode of the Thoughts of Money (TOM) podcast, hosts Trevor Cummings and Blaine Carver discuss the concept of 'playing with house money' and how it relates to investing and compounding interest. They explain the importance of understanding compounding returns, providing visual analogies like a rolling basketball or snowball to illustrate the accelerating growth over time. The episode also delves into legacy planning, stressing the need for intentional decisions about how accumulated wealth will be used or passed down. Trevor and Blaine emphasize that planning for the descent—akin to planning for the drive home—is as crucial as the ascent in one’s financial journey. The episode aims to educate listeners on both the qualitative and quantitative aspects of managing and planning for their wealth long-term. 00:00 Introduction to the Podcast 00:26 The Concept of Playing with House Money 00:58 Understanding Compounding Interest 01:42 Visualizing Compounding with Real-Life Analogies 04:10 The Importance of Legacy Planning 06:04 Client Conversations and Financial Prudence 07:30 The Millionaire Next Door 11:56 The Power of Compounding Over Time 15:35 Planning for the Descent: Legacy and Wealth Distribution 21:19 Final Thoughts and Call to Action Links mentioned in this episode: http://thoughtsonmoney.comhttp://thebahnsengroup.com

This week's blogpost - https://bahnsen.co/3MidbtW Navigating Financial Milestones: From Youth to Golden Years In this episode of the Thoughts on Money Podcast, host Trevor Cummings and guests Blaine Carver and Sean Latimer discuss Blaine's article on financial milestones. The group humorously reflects on age-specific privileges and responsibilities that influence financial decisions. Covering milestones from childhood to retirement, they delve into the importance of starting investment accounts for minors, the benefits of different savings strategies, the significance of life and disability insurance, and tax planning. They also explore Roth conversions, estate planning, and the psychological impacts of money management, offering practical insights and a few personal anecdotes along the way. 00:00 Welcome to the Thoughts on Money Podcast 00:32 Discussing Financial Milestones 02:28 Planning for Children's Future: UTMA vs. 529 06:37 Creative Uses of 529 Plans 10:55 Importance of Insurance in Early Adulthood 13:53 Building Savings Habits 18:38 Pre-Retirement Planning in Your 50s 20:36 Understanding IRA Withdrawals and Penalties 22:32 Navigating Social Security and Medicare 26:11 Tax Planning Strategies in Your 60s 30:02 Charitable Giving and Required Minimum Distributions 33:39 Estate Planning and Financial Management in Your 70s 40:50 Final Thoughts and Practical Advice Links mentioned in this episode: http://thoughtsonmoney.comhttp://thebahnsengroup.com

This week's blogpost - https://bahnsen.co/3M8Yj0S T-Bill and Chill vs. Market Returns: A Game Film Analysis In this episode of the Thoughts on Money Podcast, the hosts Trevor Cummings, Sean Latimer, and Blaine Carver discuss the 'T Bill and Chill' investment strategy and its opportunity costs over the past two years compared to the stock market's performance. They draw parallels between reviewing investment game film and analyzing critical decisions in NFL football, notably the Seattle Seahawks' controversial play in the 2015 Super Bowl. The hosts argue for having a structured investment framework and using financial planning to enhance investment returns while managing risk tolerance and behavioral biases. They also underscore the importance of patience and long-term strategies in achieving significant financial rewards. 00:00 Welcome to the Thoughts on Money Podcast 00:13 NFL Talk: The Infamous Seahawks vs. Patriots Super Bowl 01:01 T-Bill and Chill: A Financial Strategy Revisited 01:24 The Importance of Game Film in Investing 05:54 Analyzing the T-Bill and Chill Strategy 07:37 The Real Cost of Missing Market Upswings 10:12 Balancing Risk and Return in Financial Planning 16:08 Balancing Growth and Spending 17:18 Risk Tolerance and Financial Planning 18:07 The Role of Advisors 19:49 Investment Strategies and Market Conditions 22:16 Consistency in Investment Philosophy 23:33 Behavioral Aspects of Investing 29:26 The Importance of Patience 32:37 Final Thoughts and Listener Engagement Links mentioned in this episode: http://thoughtsonmoney.comhttp://thebahnsengroup.com

This week's blogpost - https://bahnsen.co/3YzxRos Personal Finance 101: Building a Strong Financial Framework In this episode of the Thoughts on Money podcast, host Trevor Cummings and co-host Blaine Carver dive into the basics of personal finance. The discussion centers around simplifying financial concepts and creating a solid framework for managing money, covering topics such as giving, saving, spending, and planning for the future. Trevor shares practical advice, anecdotes, and book recommendations to help listeners navigate their financial journeys. The episode emphasizes the importance of awareness, setting achievable goals, and considering long-term legacy planning. 00:00 Welcome to the Thoughts on Money Podcast 00:23 Back to Basics: Simplifying Personal Finance 01:58 Navigating Financial Conversations with Clients 03:15 Book Recommendations for Financial Literacy 04:50 The Importance of Giving in Personal Finance 10:13 Saving Strategies: Pay Yourself First 13:59 The Debate on Budgeting 17:23 Assigning Homework for Financial Awareness 18:08 Tracking Expenses for Long-Term Success 18:37 Freedom Within a Financial Framework 19:46 Mentoring and Practical Financial Exercises 20:55 Addressing Major Expenses First 21:56 The Importance of Financial Handoffs 23:36 Passing Down Wealth and Values 26:07 Balancing Enjoyment and Financial Prudence 32:35 Teaching Financial Principles to the Next Generation 34:09 Final Thoughts and Simple Financial Frameworks Links mentioned in this episode: http://thoughtsonmoney.comhttp://thebahnsengroup.com

This week's blogpost - https://bahnsen.co/46y1Y1F Cleanliness in Finances: The Secret to a Tidy Portfolio In this episode of the Thoughts on Money Podcast, hosts Trevor Cummings and Sean Latimer discuss the importance of cleanliness and organization, both in day-to-day life and financial portfolios. They share personal stories and insights on chores and parenting, discussing how these lessons apply to maintaining a clean and efficient investment strategy. The episode emphasizes avoiding 'trinkets' in portfolios, the false sense of diversification, and ensuring every investment has a purpose. Tune in for a blend of personal anecdotes and professional financial advice. 00:00 Welcome to the Thoughts on Money Podcast 00:51 Parenting Challenges and Funny Stories 09:22 The Concept of Cleanliness and Its Importance 12:22 Financial Cleanliness: Simplifying Your Portfolio 17:43 False Diversification and Common Portfolio Mistakes 21:09 The Importance of a Common Thread in Investing 26:10 Conclusion and Final Thoughts Links mentioned in this episode: http://thoughtsonmoney.comhttp://thebahnsengroup.com

This week's blogpost - https://bahnsen.co/3Yf7XGt Who's the Boss: Mastering Self-Control in Life and Investing In this episode of the Thoughts on Money podcast, hosted by Trevor Cummings along with Sean Latimer and Blaine Carver, the trio dives into the importance of self-control and awareness in various aspects of life, including dieting, parenting, and investing. They explore how external influences like cravings, emotions, and even hunger can impact decision-making. Drawing from personal anecdotes and references to popular culture, including Batman and the fable of Hansel and Gretel, the hosts stress the significance of having a well-thought-out plan and staying true to it, especially in the volatile stock market. The episode underscores the importance of being the 'boss' of one's actions to avoid regretful decisions. 00:00 Introduction to the Podcast 00:17 The Concept of Influence 02:56 Diet and Cravings 08:14 Parenting Challenges 12:50 Emotional Triggers and Self-Control 15:14 Legal Analogies and Financial Advice 24:13 Market Warnings and Investment Strategies 27:21 Conclusion and Final Thoughts Links mentioned in this episode: http://thoughtsonmoney.comhttp://thebahnsengroup.com

This week's blogpost - https://bahnsen.co/3S8texp Power of Great Teachers: Insights from the Thoughts on Money Podcast In this episode of the Thoughts on Money (Tom) podcast, hosted by Trevor Cummings, along with Sean Latimer and Blaine Carver, they explore the crucial role of great teachers in personal and financial life. The discussion centers around distinguishing great teachers from ordinary ones and stresses the importance of having influential mentors. The episode also touches on the attributes of effective teachers, such as conviction, flexibility, curiosity, and the ability to simplify complex ideas. The hosts share personal experiences and movie references to illustrate their points, emphasizing continuous learning and mentorship's vital role in achieving success. 00:00 Introduction and Host Welcome 01:00 Favorite Movies Discussion 04:42 Importance of Great Teachers 12:41 Conviction and Flexibility in Teaching 16:30 Insatiable Curiosity in Learning 17:41 The Power of Curiosity 18:13 Learning from Others 18:52 Curiosity in Practice 19:43 Foundations and Flexibility 21:57 Clarity and Simplicity 28:02 Teaching and Mentorship 31:58 Final Thoughts and Encouragement Links mentioned in this episode: http://thoughtsonmoney.comhttp://thebahnsengroup.com

This week's blogpost - https://bahnsen.co/4eTRm0N Discussing Financial Independence and the FIRE Movement In this episode of the Thoughts on Money (TOM) Podcast, guest hosts Blaine Carver and Sean Latimer discuss the concept of financial independence, its rising popularity, and its implications. They share personal anecdotes about 4th of July celebrations and the challenges of managing noise with small children and pets. The conversation transitions into an exploration of the FIRE (Financial Independence, Retire Early) movement and how it differs from traditional financial planning. Blaine and Sean highlight the importance of understanding personal financial goals, the definition of financial independence, and the emotional aspects of investing. They also delve into obstacles to financial independence, including excessive risk, emotional investing, and inflation. The episode concludes with insights on balancing current enjoyment with future financial security and understanding the nuances between financial independence and financial freedom. 00:20 4th of July Celebrations 01:49 Transition to Financial Independence 03:23 Defining Financial Independence 05:10 The FIRE Movement Explained 13:37 Challenges to Financial Independence 23:08 Strategies for Achieving Financial Independence 28:27 Financial Independence vs. Financial Freedom 29:40 Conclusion and Closing Remarks Links mentioned in this episode: http://thoughtsonmoney.comhttp://thebahnsengroup.com

This week's blogpost - https://bahnsen.co/3zpcXxW Embracing Volatility: Lessons from Nature and Investing In this episode of the Thoughts on Money Podcast, host Trevor Cummings, alongside colleagues Sean Latimer and Blaine Carver, discusses the concept of volatility in both nature and financial markets. Trevor shares personal stories about observing butterflies in his backyard and ties these experiences to investment strategies, emphasizing the importance of enduring market volatility to achieve long-term gains. The discussion also touches on the necessity of having a plan and safety nets in place to handle unforeseen circumstances. Listeners are encouraged to view market fluctuations as a feature, not a bug, that ultimately offers investment opportunities. 00:00 Welcome to the Thoughts on Money Podcast 00:21 The Struggle of Writing and Inspiration 00:49 Butterflies and Life Lessons 05:25 Connecting Nature to Financial Wisdom 05:57 The Importance of Volatility in Investing 08:28 Setting Realistic Expectations 12:19 Lessons from Hiking and Investing 25:54 The Role of Optionality in Financial Planning 27:19 Closing Thoughts and Upcoming Episodes Links mentioned in this episode: http://thoughtsonmoney.comhttp://thebahnsengroup.com

This week's blogpost - https://bahnsen.co/3KS7Ng9 Financial Advice: Owner vs. Coach In this episode of the Thoughts of Money podcast, host Trevor Cummings is joined by colleague Josh Klooz. They discuss the complexities of managing personal finances, emphasizing the importance of collaboration, integration, and trust between clients and advisors. Through analogies from football to cooking, they explore the roles of clients as either owners or coaches in their financial lives and the need for professional guidance. The episode covers topics like financial planning, the importance of customized advice, and how best to manage and delegate financial responsibilities to ensure alignment with personal life goals. 00:00 Introduction and Guest Welcome 01:04 The Love for College Football 03:34 Financial Planning: The Coach vs. Owner Analogy 05:31 The Importance of Collaboration in Financial Planning 07:39 Challenges of Do-It-Yourself Financial Management 10:38 The Role of Trust in Financial Advisory 19:13 Customized Financial Planning and Project Checklists 29:42 The Virtue of Giving and Leaving Well 30:33 Conclusion and Final Thoughts Links mentioned in this episode: http://thoughtsonmoney.comhttp://thebahnsengroup.com

This week's blogpost - https://bahnsen.co/4b4UxiQ Navigating Home Affordability: Practical Insights In this episode of the Thoughts on Money podcast, Trevor Cummings, joined by Blaine Carver, explores the current challenges of home affordability, discussing the impact of rising real estate prices and mortgage rates. They provide insights into why today's housing market is less affordable compared to previous decades, emphasizing the importance of considering financial ratios, such as home price-to-income. The conversation also delves into social pressures around home ownership and offers practical advice, including the significance of patience in financial decisions, the pitfalls of financial acrobatics, and the crucial role of parents in guiding their children through these financial choices. 00:00 Introduction to Thoughts on Money 00:40 Controversial Real Estate Opinions 01:34 Emotional Attachment to Real Estate 03:38 Baseball Anecdote and Home Prices 06:52 Affordability and Financial Ratios 11:12 Impact of Mortgage Rates on Home Buying 16:59 Generational Perspectives on Home Buying 20:41 Social Pressure and Home Ownership 21:49 Renting vs. Buying: Personal Experiences 24:52 Financial Acrobatics in Home Buying 26:55 Parental Support and Financial Independence 28:59 Key Financial Advice for Home Buyers 32:25 The Importance of Patience in Financial Decisions 38:16 Final Thoughts and Closing Remarks Links mentioned in this episode: http://thoughtsonmoney.comhttp://thebahnsengroup.com

This week's blogpost - https://bahnsen.co/3x5Xemm The Platypus Parallel: Unmasking Investor Behavior In this episode of the Thoughts on Money (TOM) podcast, host Trevor Cummings and his cohost Sean Latimer delve into the latest blog post that draws unexpected parallels between a zoo visit and investing. They discuss fun facts about animals from Trevor's family's frequent zoo visits and Wild Kratts adventures. The conversation transitions into a deeper exploration of black swan events in the market, the importance of not overreacting to such events, and the lack of a concrete 'antidote' for market downturns. They emphasize the value of enduring market volatility, likened to surviving excruciating yet non-lethal platypus venom, and how past experiences build resilience, drawing a whimsical reference to Kelly Clarkson's song 'What Doesn't Kill You Makes You Stronger.' Practical examples of hedging, market timing, and long-term investing strategies are explored, illustrated with engaging anecdotes and market insights. 00:00 Introduction to the Podcast 00:25 Zoo Adventures and Fun Facts 03:33 Investment Philosophy and Market Analogies 06:23 Black Swan Events and Market Timing 10:09 The Cost of Hedging and Insurance Strategies 16:12 Endurance and Long-Term Investing 21:41 Final Thoughts and Conclusion Links mentioned in this episode: http://thoughtsonmoney.comhttp://thebahnsengroup.com

This week's blogpost - https://bahnsen.co/3X2qzZp Breaking Records and Financial Progress: Embracing Market Highs and Human Innovation In this episode of the Thoughts on Money podcast (TOM), host Trevor Cummings and guest Blaine Carver delve into the concept of breaking records and the nature of progress, both in sports and financial markets. They discuss notable sports records, such as Roger Bannister’s sub-four-minute mile and LeBron James' scoring milestone, emphasizing how once-unthinkable achievements became benchmarks for future generations. Shifting focus to financial markets, they explore investor psychology, the recurrent nature of market highs, and the overarching theme of gradual human progress driving long-term market growth. The importance of maintaining a positive, diligent perspective amidst sensationalist headlines and market highs is highlighted, along with practical investment advice and the value of well-reasoned decision-making. The episode also offers timeless wisdom on embracing incremental improvements, both in personal and financial contexts. 00:00 Introduction and Welcome 00:33 Unbreakable Sports Records 02:13 The Mile Record: Breaking Barriers 06:01 The Concept of Progress 08:42 Market Highs and Investor Emotions 15:15 Practical Investment Advice 17:32 The Importance of Diligence and Perspective 27:30 Conclusion and Final Thoughts Links mentioned in this episode: http://thoughtsonmoney.comhttp://thebahnsengroup.com

This week's blogpost - https://bahnsen.co/4bTgiTx One of the secrets to long-term financial success is avoiding big mistakes.  Big mistakes come in all different shapes and sizes, which is exactly what we will unpack today.  We will cover the consequences of concentration, panic, big losses, and what I like to call tax magic.  This should be a fun one, and I hope you won’t miss it.  Links mentioned in this episode: http://thoughtsonmoney.comhttp://thebahnsengroup.com

This week's blogpost - https://bahnsen.co/3wBQQ6i Today I have the honor and privilege of welcoming a first-time Thoughts On Money contributor. Josh Klooz is leading the charge on our recent endeavors in Houston, TX and is joining us today to share the importance of not just passing down financial wealth, but financial wisdom. Josh grew up on a farm in Nebraska is well-acquainted with hard work. Josh unpacks the life lessons he’s gleaned from his childhood and how he is passing this wisdom down to the next generation. So, with summer just around the corner, please join us today for Josh’s Thoughts on Money: Summer Work. Links mentioned in this episode: http://thoughtsonmoney.comhttp://thebahnsengroup.com

This week's blogpost - https://bahnsen.co/3QF5Zum The decade from 2000-2009 included both the Dot-Com Bubble and the Global Financial Crisis (GFC).  We call this the Lost Decade because it was a rare occurrence where stock investors experienced a negative return over a 10-year period. This decade will live in infamy and will be the talk of countless financial books, newsletters, blogs, and white papers.   Today, I would like to unpack what I call the New Lost Decade, which we live in now.  This topic doesn’t seem to be catching as much attention, but I will point out why this is so important to you as an investor.  This has nothing to do with the stock market and everything to do with the bond market.   I hope you can join me today to discuss the New Lost Decade.     Links mentioned in this episode: http://thoughtsonmoney.comhttp://thebahnsengroup.com

This week's blogpost - https://bahnsen.co/3USNw01 Today, I am excited to introduce our guest author, Sean Ullrich. Sean hails from our Nashville office.  His visit to Newport Beach this week made for perfect timing to record the podcast and publish his first Thoughts On Money contribution.     Please join us as Sean bridges the connection between duck hunting and taxes in his article, It’s All About What You Keep. Links mentioned in this episode: http://thoughtsonmoney.comhttp://thebahnsengroup.com

This week's blogpost - https://bahnsen.co/3y08bG8 Let me ask you this, why did Goldilock’s parent allow her to wander alone in the forest? It’s never a good idea to invade the space of a bear, especially not three of them.  I don’t want you wandering the forest of personal finance tabloids or hanging around permabears.  Join me as I unpack the history of gold and call into question some of the headlines that you might be seeing out there.  Links mentioned in this episode: http://thoughtsonmoney.comhttp://thebahnsengroup.com

This week's blogpost - https://bahnsen.co/446kXz1 Turns out, the path to a prosperous retirement is not too different than learning to line-dance. The steps you take, and the sequence of those steps, can either carry you to the finish line or leave you woefully out of place. Without spoiling the surprise, join us today as James Andrews unpacks the steps to securing your retirement. Links mentioned in this episode: http://thoughtsonmoney.comhttp://thebahnsengroup.com