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Thoughts On Money [TOM] Trevor Cummings
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- 商業
THOUGHTS ON MONEY [TOM] is a podcast looking at simple truths on money. Everything from budgeting to investing to decision making. A great place to come for answers to your personal financial questions or to spark thought on how to improve your financial life.
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Who's On Your Team?
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.com
http://thebahnsengroup.com -
What Goes Up Must Come Down?
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.com
http://thebahnsengroup.com -
The Playtpus
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.com
http://thebahnsengroup.com -
Records are Made to be Broken
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.com
http://thebahnsengroup.com -
Avoiding Big Mistakes
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.com
http://thebahnsengroup.com -
Summer Work
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.com
http://thebahnsengroup.com