Talking Real Money - Investing Talk

Don McDonald
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Financial talk radio veteran, Don McDonald and former host of Serious Money on PBS, Tom C**k, join forces to talk about real money issues. In each episode, they solve real money problems, dole out real investing (not speculating) advice, and really explain the financial issues that effect all of us. Plus, it's actually fun! Talking Real Money is a podcast designed to provide the real help we all need to enjoy a really great future. Call in with your questions anytime at 855-935-TALK (8255).

  1. Yield Trap

    11小时前

    Yield Trap

    Questions? Comments? This episode opens with a blistering takedown of sensationalized financial media, using a Kiplinger income piece as the latest example of how risky, high-fee junk bond products get dressed up as safe income solutions for yield-hungry investors. Don and Tom explain why bonds are supposed to provide stability, not speculative upside, and why chasing eye-popping payouts usually means swallowing hidden risk, ugly expenses, and stock-like volatility. They then pivot to listener questions on building a teen’s Roth IRA, whether Avantis or Dimensional funds make more sense than Vanguard for a small/value tilt, and why their website still shows mutual funds more prominently than ETFs, before wrapping with some loose studio banter and a reminder to send questions through TalkingRealMoney.com. 0:04 Rant on terrible financial advice and declining media trust 0:24 Criticism of Kiplinger and “investment porn” content 1:08 Concerns about newsletter-driven incentives 2:35 Warning against using short-term returns 4:13 Breakdown of Nuveen Multi-Asset Income Fund and unrealistic yield claims 5:08 Junk bond exposure and credit risk explained 6:18 Expense shock: 0.03% vs 3.38% 7:18 High yields = high risk reality 8:01 “Safe income” claim debunked 8:57 Collapse risk in downturns 9:37 Core principle: risk and return are linked 10:38 Fed/yield curve speculation criticism 10:56 Purpose of bonds: stability vs yield 11:27 Bonds as capital preservation, not return drivers 12:05 Example of high-cost junk bond ETF 12:12 Fewer trustworthy financial sources 13:16 Stop consuming financial media noise 13:38 Do something better with your time 14:32 Listener: teen Roth IRA strategy 16:33 Recommendation: AVGV single-fund approach 17:40 Fund-of-funds diversification explained 18:38 Listener: Vanguard vs Dimensional Fund Advisors / Avantis 19:45 Case for small/value tilt 21:59 Listener: ETF vs mutual fund inconsistency 24:12 Simple portfolio: DFAW / AVGE + BND 25:11 Studio banter and mic technique Learn more about your ad choices. Visit megaphone.fm/adchoices

    30 分钟
  2. Final Broadcast - Two

    1天前

    Final Broadcast - Two

    Questions? Comments? In the final hour of the radio show, Don and Tom blend nostalgia with a blunt reality check—highlighting the looming Social Security shortfall that could force 20–25% benefit cuts within a decade. They explore politically painful solutions (tax increases, benefit reductions, later retirement ages), while reinforcing their core investing philosophy: ignore fear-driven moves like chasing gold, stay diversified, and avoid market timing. Listener calls drive discussions on fiduciary advice, ethical investing dilemmas, and planning for less financially engaged spouses. The show closes with gratitude, humor, and a transition to a podcast-only future—same mission, fewer commercials, and more freedom. 0:05 Aging perspective and how quickly decades pass 2:28 Social Security crisis and projected 20–25% benefit cuts 4:46 Proposed fixes: higher taxes, later retirement, reduced COLA 7:11 Caller considers switching from index funds to gold 8:17 Why gold is a poor long-term investment 11:10 Market timing is impossible to do consistently 15:07 Fiduciary vs. non-fiduciary advisors (Fidelity discussion) 17:16 “Best interest” standard vs. true fiduciary duty 21:26 Listener reminder: stay the course during market fear 24:03 Ethical investing and whether profits justify harm 27:32 ESG limitations and the difficulty of “pure” investing 28:52 “Pay yourself first” as foundational financial advice 31:23 Listener gratitude and behavioral investing success 32:55 Planning for a less-engaged spouse and advisor relationships 34:48 Longtime listener appreciation and show legacy 37:23 Transition from radio to podcast and what changes Learn more about your ad choices. Visit megaphone.fm/adchoices

    41 分钟
  3. Final Broadcast - One

    2天前

    Final Broadcast - One

    Questions? Comments? The final live radio episode of Talking Real Money blends nostalgia, listener appreciation, and core investing philosophy. Don and Tom reflect on nearly four decades of broadcasting while reinforcing their timeless message: consistent investing beats prediction. Using a simple S&P 500 example, they illustrate how discipline—not brilliance—builds wealth. They address current market declines with calm realism, urging listeners to ignore noise and stick to a plan. Calls cover everything from podcast transition logistics and annuity sales traps to credit freezes, tax surprises from brokerage accounts, and when to fire an advisor—ending the radio era exactly as it ran: practical, skeptical, and relentlessly investor-first. 0:04 Emotional opening and end of the radio era 0:46 Show history back to 1988 and investing perspective 1:55 $500/month S&P 500 example → ~$3.1M outcome 2:43 Market fears vs long-term investing reality 5:16 Podcast growth to #43 in U.S. investing category 6:40 Market drop discussion and “what should you do?” 7:29 Core advice: plan, ignore predictions, stay disciplined 8:57 Podcast call-in format going forward (Car Talk style) 11:01 How to challenge annuity salespeople effectively 13:22 Call from Paul Merriman reflecting on legacy 16:55 Listener success story: Roth IRA to $500K 20:32 Credit score drop and how to check/freezes 26:35 Why freezing credit is a smart default move 27:47 Tax shock from brokerage gains and hidden trading issues 32:11 Warning signs of poor advisor behavior (Wells Fargo case) 34:08 When to fire an advisor (fees, complexity, value gap) Learn more about your ad choices. Visit megaphone.fm/adchoices

    40 分钟
  4. College Pays

    3天前

    College Pays

    Questions? Comments? This episode mixes studio banter with a surprisingly substantive look at education and investing trade-offs. Don and Tom walk through data on the lowest-paying college majors, highlighting that many bachelor’s degrees—especially in education and the arts—start and stay low in income unless paired with advanced study. They push back on the idea that college isn’t worth it, citing Federal Reserve data showing higher lifetime earnings, better job stability, and longer life expectancy for graduates, while emphasizing the real danger: taking on large debt for low-paying fields. Listener questions cover Roth conversions (worth considering carefully within tax brackets), why 529 plans still beat so-called “Trump accounts,” and the flaws in covered-call income ETFs like JEPI—ultimately reinforcing their core philosophy: ignore gimmicks, focus on total return, and keep investing simple. 0:04 Almost-live intro from “studio” (aka broom closet) and end of radio era 2:10 Lowest-paying college majors and why outcomes vary 3:23 Pharmacy (without grad school) and theology incomes 4:22 Social services, performing arts, and education pay realities 5:42 Liberal arts debate—value vs. earning potential 7:42 Biology, hospitality, psychology, and other $45K careers 9:22 Should you skip college? ROI vs. cost and debt 10:44 Federal Reserve data on college ROI and lifetime earnings 11:48 Job stability, longevity, and socioeconomic effects of degrees 12:42 Mid-career earnings—education still lags badly 14:32 The real issue: debt vs. income mismatch 16:45 Roth conversion question—when it might (and might not) make sense 19:21 529 plans vs. “Trump accounts” for kids’ savings 20:59 Covered call ETFs (JEPI, etc.) and income strategy pitfalls 22:06 Why income-focused funds don’t reduce risk 23:07 Expense drag and hidden costs in “income” ETFs 24:14 Gimmick investing vs. simple total return strategy 25:43 Bellevue weather, Lyft misadventure, and wrap-up Learn more about your ad choices. Visit megaphone.fm/adchoices

    29 分钟
  5. Asking Away

    6天前

    Asking Away

    Questions? Comments? A lively Friday Q&A kicks off with some unintended voice effects courtesy of Don’s grandkids before diving into listener questions on money market funds versus high-yield savings accounts, Roth vs. traditional 401(k) decisions in high tax brackets, expense ratios in fund-of-funds like Avantis ETFs, the limited value of international bonds, the reality behind indexed annuity caps, and whether investors should ever move beyond simple one-fund portfolios. The throughline: keep it simple, understand risk vs. safety, and don’t overestimate your ability to outsmart well-constructed investment strategies. 0:04 Grandkids + Rodecaster voice effects open 1:55 HYSA vs. Schwab money market funds (SWVXX, Treasury MMFs) 3:54 Risk spectrum: prime vs. government money markets 5:35 Why some online banks are ditching ACH transfers 6:54 Roth vs. traditional 401(k) in a high tax bracket 8:11 Blended strategy and tax flexibility over time 10:21 AVGV expense ratio—are fees stacked? 10:47 Fund-of-funds pricing explained (no double dipping) 11:41 International bonds: worth it or unnecessary complexity? 13:22 Indexed annuity caps—can they go up? (the reality) 15:33 Why indexed annuities remain opaque and costly 16:08 One-fund portfolios vs. DIY allocation thresholds 17:42 Why simplicity often beats customization 18:47 Don’s own one-fund 401(k) approach 19:32 Plug: Short Storyverses podcasts 20:06 Plug: Financial Fysics Kindle release Learn more about your ad choices. Visit megaphone.fm/adchoices

    23 分钟
  6. Your Retirement Number

    3月26日

    Your Retirement Number

    Questions? Comments? The idea of a universal “retirement number” gets dismantled as misleading and overly simplistic, with Don and Tom arguing that retirement planning is deeply personal and depends on spending, income sources, and lifestyle. They walk through a practical way to calculate your own number—starting with real spending, subtracting Social Security and any pension, and determining what your portfolio must generate—while warning against blind reliance on rules like the $1 million target or aggressive withdrawal rates. The episode also tackles listener questions on ETF expense differences, early retirement withdrawal rules, and a real-world case involving retirement income and long-term care planning, emphasizing conservative strategies and the importance of housing equity in later-life care decisions. 0:04 The myth of “your retirement number” 0:28 Why $1 million became the default—and why it’s wrong 2:17 Inflation and the erosion of the “millionaire” benchmark 2:39 The only correct answer: “it depends” 3:17 The 4% rule origin and its limitations 4:04 How to actually calculate your retirement number 4:55 Northwestern Mutual’s $1.26M average—and cost skepticism 6:11 Reality check: most retirees don’t have pensions 6:46 The real starting point—what you actually spend 8:11 Reverse engineering your withdrawal needs 8:31 Why 6%+ withdrawal rates are dangerous 9:10 The truth about “safe” withdrawal rates 10:12 The importance of saving 15–20% early 10:41 New website podcast player and listener access 12:49 ETF expense differences: VBR vs VSIAX discussion 16:03 Rule of 55 vs. substantially equal payments 17:24 Listener case: $72K IRA and long-term care planning 18:35 Why $72K won’t cover care—housing becomes the asset 19:34 Conservative investing for near-term care needs 20:45 Reverse mortgage as a care funding strategy 22:23 Upcoming change: live listener calls on Fridays 23:52 Free portfolio review offer (fiduciary advisors) 24:51 Joke math on annuity commissions 25:47 Closing thoughts and transition to podcast-only futur Learn more about your ad choices. Visit megaphone.fm/adchoices

    28 分钟
  7. Retirement Myths

    3月25日

    Retirement Myths

    Questions? Comments? As Talking Real Money moves into its final week on terrestrial radio, Don and Tom mix transition talk with a practical rundown of common retirement myths. They push back on the idea that expenses automatically fall in retirement, warn that Social Security was never meant to cover everything, and explain why relying on the market alone can be dangerous when withdrawals begin. Callers bring in questions about the sketchy-sounding Quantum X trading platform, required minimum distributions, whether a high-income worker can retire at 62, ETF bid/ask spreads, and where to hold bonds when a 401(k) offers outrageously expensive fund options. The episode also doubles as a preview of how listeners can keep calling and interacting once the show becomes podcast-only. 0:04 Final countdown to the end of the radio show and shift to podcast-only 1:55 Retirement myths theme introduced 2:37 Myth #1: You’ll need less money in retirement 4:02 Myth #2: Social Security will cover most of your needs 5:41 Myth #3: The market will do all the heavy lifting 7:21 Caller asks about Quantum X; Don and Tom warn it looks like nonsense or worse 9:27 Simple alternative offered: broad diversification with VT 10:52 Caller asks about RMD confusion across multiple accounts 12:01 Advice to simplify scattered retirement accounts 13:58 More digging into Quantum X raises additional scam concerns 16:13 Caller asks if he can retire at 62 with substantial savings and pension income 17:21 Don presses on actual spending, not income, as the key retirement measure 21:23 Myth #4: You’ll be able to work as long as you want 23:34 Myth #5: Taxes will be much lower in retirement 26:13 Podcast listening gets easier through the website and apps 29:22 Caller asks about ETF bid/ask spreads, especially DFAW versus VT 32:55 Caller asks where to hold bonds when 401(k) bond fund costs are absurdly high 35:12 After-hours pricing explains bizarre ETF spread quotes 36:37 Example of a shockingly expensive Transamerica bond fund 38:04 How listeners can keep calling and participating after radio ends Learn more about your ad choices. Visit megaphone.fm/adchoices

    41 分钟
  8. You Can't Know

    3月24日

    You Can't Know

    Questions? Comments? With geopolitical tension rattling markets and investors stampeding into cash, gold, and energy, Don and Tom step back to deliver a familiar message: nobody knows what’s next—and anyone claiming otherwise is selling something. They walk through the behavioral traps of market timing, explain why diversification (especially beyond U.S. large caps) is quietly doing its job, and highlight the role of small cap and micro-cap stocks as part of a broader portfolio—not a silver bullet. Along the way, they mix in listener calls, practical tips (including liquidity strategies and avoiding irreversible investments), and a running acknowledgment that while their radio era is ending, the core mission—keeping investors from doing something dumb—isn’t going anywhere. 0:04 CBS Radio shutdown vs. TRM leaving radio—industry shift toward podcasts 1:32 War-driven market anxiety: money flows to cash, gold, and energy 2:54 Interest rate expectations flip—uncertainty dominates 3:16 Jason Zweig warning: beware “I know what’s next” pitches 4:24 Market timing trap—getting back in is the real failure point 5:37 Diversification reality—why global exposure smooths outcomes 7:08 Financial Fysics Kindle release and podcast transition reminders 9:53 “Retirement Plan” film event plug and discussion preview 13:37 Listener question: small cap value vs. large cap performance 15:44 Correlation explained—why asset classes don’t move in lockstep 16:29 Small cap value premium—historical outperformance rationale 21:49 Micro-cap ETF discussion (DFMC)—extreme diversification option 24:47 Caution: aggressive funds are optional, not necessary 27:52 Listener success story—laddering cash with CDs for caregiving 33:40 Core advice: avoid irreversible financial decisions 34:49 Liquidity matters—dangers of annuities and illiquid investments 35:55 Wall Street “new ideas” skepticism—most benefit the seller 36:21 Final push: transition to podcast-only format Learn more about your ad choices. Visit megaphone.fm/adchoices

    39 分钟
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Financial talk radio veteran, Don McDonald and former host of Serious Money on PBS, Tom C**k, join forces to talk about real money issues. In each episode, they solve real money problems, dole out real investing (not speculating) advice, and really explain the financial issues that effect all of us. Plus, it's actually fun! Talking Real Money is a podcast designed to provide the real help we all need to enjoy a really great future. Call in with your questions anytime at 855-935-TALK (8255).

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