Keep it Simple assetbuilder

Tune in to 'Keep It Simple' with host Adam Morris, Janet Griffith, and Joey Badinger from Asset Builder to explore the intricacies and advantages of Roth conversions today!
 
The discussion covers the fundamentals of what a Roth conversion is, the benefits, including tax optimization and managing required minimum distributions (RMDs), and its strategic advantages in certain market conditions. The team also challenges common myths about Roth conversions and emphasizes the importance of planning and asset location. They provide actionable insights for both novice and experienced investors, underscoring the significance of financial planning in securing a tax-efficient future.
 
01:07 Demystifying Roth Conversions: What You Need to Know
03:45 Roth IRA Basics: Understanding the Fundamentals
09:13 The Advantages of Roth Conversions for Future Planning
11:59 Inherited IRAs and the Impact of Recent Legislation
16:57 Maximizing Lifetime Wealth Through Strategic Tax Planning
18:32 Leveraging Roth Conversions in a Down Market
22:54 Exploring Asset Location in Investment Strategies
27:03 Debunking Myths Around Roth Conversions
29:17 Optimizing Roth Conversions for Different Tax Brackets
36:02 Strategic Planning: Roth Accounts and Estate Planning
40:22 Investment Wisdom and Financial Literacy Evolution
 

👉 Connect with Team at Asset Builder: https://assetbuilder.com/.
 
 

In this episode of 'Keep It Simple,' the team discusses strategies for tax planning in anticipation of the expiring provisions of the Tax Cuts and Jobs Act of 2017, set to phase out by the end of 2025.
 
Joined by advisors Adam Morris, Janet Griffith, and Joey Badinger, they explore potential changes in tax rates, deductions, and credits, emphasizing the need for individuals and businesses to plan ahead. The discussion extends to the implications for estate and gift taxes, and the episode offers insights into making strategic decisions to optimize tax positions. The advisors remind listeners that while they are not tax professionals, their insights aim to prompt thoughtful consideration and consultation with tax experts.
 
Key topics include maximizing tax brackets, leveraging charitable donations, understanding the shifting landscape of deductions, and the importance of early planning for estate taxes.
 
00:34 Special Topic: Tax Planning for the Tax Cuts and Jobs Act of 2017
01:09 Understanding the Sunset of Tax Provisions
04:08 Strategies for Tax Optimization Before 2026
12:25 Estate and Gift Taxation Changes
14:11 Long-Term Tax Planning Strategies
23:31 Utilizing Capital Gains and Loss Harvesting
26:35 Conclusion and Next Steps

Ever thought about the countless variables that influence your investment decisions and how mastering the art of simplicity could be a game-changer? Join us, Jared and Adam, as we dissect Morgan Housel's enlightening book, "Same as Ever". Filled with bite-sized wisdom, this book reveals the power of long-term thinking, the beauty of focusing on constants over variables, and the potential traps of emotional investing. With Jeff Bezos' business strategy as a case study, you'll understand how these concepts work in the real world.
Life, just like history, is unpredictable - small moments can drastically alter its course. From the Revolutionary War to the sinking of the Lusitania, we illustrate how seemingly insignificant factors can have enormous impacts. Drawing from these historical events, we delve into the importance of humility when predicting future trends, particularly for investing. After all, acknowledging our inability to foresee every detail could be the key to avoiding costly financial mistakes.
In our final segment, we invite you to step back and look at the bigger picture, both in terms of your investments and life in general. We draw parallels between the roller coaster rides of the market and life, discussing the significance of managing expectations and practicing gratitude in cultivating happiness. Furthermore, we delve into the backstory of Housel's other book "The Psychology of Money," sharing how personal experiences, including a near-death experience, shaped his views on finance. As we wrap up, we leave you with a powerful story from the book that underscores the impact our financial decisions can have. Join us in this insightful journey as we navigate the often unpredictable, yet rewarding world of investing.
(00:00) - Morgan Household's Book on Behavioral Finance Lessons
(12:13) - Unpredictable History and Future
(25:20) - The Importance of Perspective and Mindfulness
(37:16) - Spread Knowledge and Share Personal Story

Gear up as we guide you through the fascinating world of financial trends, market volatility, and the simple pleasures of life, like attending a Baylor football game or organizing one's garage. We guarantee our casual yet in-depth discussion will not only enrich your understanding of asset classes and diversification but also shed light on the importance of gratitude in our lives. We'll chew over everything from fresh perspectives on investment strategies to the delights of ordering a pizza when you're worn out.
This episode is a treasure trove of insights into the performance of various asset classes in the third quarter, the volatility of markets, and the benefits of premium investing. We peel back the layers of market performance, revealing what's behind the numbers, and explore the strategy of buying and holding funds that target specific characteristics of stocks. Be prepared to question conventional wisdom as we debunk the reliability of market forecasts and underline the long-term stability of value stocks.
In our final segment, we reflect on the transformational power of gratitude. We share our thoughts on how an attitude of thankfulness can positively impact our lives and relationships. We discuss how social media has influenced our perceptions of gratitude and provide insights on cultivating a genuine sense of appreciation. Wrapping things up, we open the floor for your questions and comments. Don't miss out on this episode brimming over with thoughtful discussions, practical recommendations, and invaluable investment tips!
(00:00) Quarterly Review and Current Trends(08:41) Asset Class Performance and Diversification Importance(18:17) Market Volatility and Rebalancing Strategies(26:51) Premium Investing and Stock Characteristics(31:42) The Changing View of Economic Growth(42:44) Adam and Janet's Farewell and Appreciation

Join us as we navigate through topics such as the current Middle East situation and the looming tax season. As we approach tax season, we share insights on how to provide a smooth, fast and easy process for our clients in the preparation of their taxes. Furthermore, we discuss the unpredictability of the markets and the multiple factors that go into the evaluation of a share price. Despite the ongoing events in the Middle East, we unravel why markets continue to rise. 
In this captivating conversation with Peter Zahan, a geopolitical strategist, we analyze the macroeconomic view of markets, economic trends, and population changes across the globe. We dig into Russia's military strategy and the necessity for them to retain land in Eastern Europe. Also, we explore how population trends in western Europe impact their economy. The conversation wraps up with an inviting suggestion to relax and enjoy a bonfire, with smores of course! 
We also explore the lighter side of life as we chat about our plans to see comedian Nate Bargatzi, the high water bill due to extreme temperatures in Plano, and our busy weekend filled with plans for pickleball. We underline the importance of taking care of oneself and avoiding injury. We further analyze the 'Four Pillars' book series by Joseph Bernstein and emphasize the importance of avoiding overconfidence when making personal trading decisions. We delve into the difference between wealth and riches, and discuss how wealth is built over time through wise investing and allowing your money to generate interest. Listen in for an enlightening conversation!
(0:00:01) - Tax Season and Market Predictability(0:06:11) - Recommendations and Anticipation(0:12:14) - Nate Bargatzi Show and Water Bill(0:14:09) - The Psychology of Investing(0:25:36) - Emotions and Influence in Investing(0:34:55) - Emotional Management in Investing Importance

Prepare for a journey that will arm you with timeless investing principles. This episode is set to demystify the complexities of investing as we unpack the enduring principles outlined in "The Four Pillars of Investing" by William Bernstein. We shed light on the intricate link between risk and reward, revealing why the brightest markets often yield the lowest returns, while the bleakest ones offer the highest. We also address the emotional turmoil that most investors face when grappling with the idea of higher risk for higher returns.
Take a deeper look at the fascinating world of small and large cap stocks. We scrutinize their differences and dissect the historic trend of small cap stocks yielding higher long-term returns. As we navigate through this, we also touch on the potential implications of the US holding larger equity value than the rest of the world and the possible pitfalls this might pose for US investors. Discover the indispensable role of global diversification in maximizing returns and why it's crucial for every investor. 
Surely, you've heard the phrase, "this time it's different"? We'll explore why this mindset can be an expensive mistake, drawing from the canal revolution in England as a case study. Join us as we delve into the dangers of market frenzy brought about by inexperienced investors, and how understanding the principles of security valuation can serve as your compass. We also illuminate how current market conditions may lead to a bubble and the protective shield indexing provides. Then, we delve into the universe of returns, pulling data from various indexes. Remember, understanding bear markets and staying committed to your allocation is critical for any investor. You won't want to miss this episode!
(0:00:01) - Exploring the Four Pillars of Investing(0:13:01) - Small vs Large Cap Stocks(0:26:22) - Market Bubbles and Long-Term Data Understanding(0:37:44) - Understanding Risk and Return in Investing(0:46:30) - Contact and Sponsor Information for Podcast