Money Talks News: The Podcast

Money Talks News

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Welcome to Money Talks News: The Podcast, a podcast devoted to everything money: how to get it, how to grow it and how to keep it. From the creators of MoneyTalksNews.com, a leading source of personal finance news and advice since 1991.

18 SEPT

5 Things to Do Before You Inherit Your Parent's House

The great wealth transfer of trillions of dollars in assets – approximately $72.6 trillion over the next 20 years – has begun. Among those assets are inherited properties, but it's tough to deal with the baggage that comes with an inherited house. Pam Krueger from Wealthramp is back to go over essential questions to ask when you inherit a house. You can download the episode wherever you get your podcasts: Listen on Apple Podcasts Listen on YouTube Music (formerly Google Podcasts) Listen on Spotify Don't forget to check out our podcast page for more episodes designed to help you make the most of your money. Getting ready to inherit a house It's not unusual to consider a home as part of an inheritance. However, if you're on the receiving end of that inheritance, you might not be sure what to do. Pam points out that any type of inheritance can be emotional and lead to difficult conversations. If you need help talking to your parents, we have a podcast episode about how to talk to your aging parents about money. When you decide to talk about inheriting a house with your parents and siblings, it might also be a good idea to bring in a financial planning professional or estate planner. Getting everyone together so you're all on the same page can reduce the stress involved later. How to deal with an inherited house As you review the inheritance, there are some important questions to ask, and plenty of pitfalls to avoid. Some of the most important things to address include: Is there a reverse mortgage on the home? Once your parents pass, a reverse mortgage can potentially put some limitations on your ability to keep the home in the family. Miranda shares a story of a friend who had no idea there was a reverse mortgage on an inherited house and is dealing with the fallout. Do you understand the capital gains? Pam talks about stepped-up basis for capital gains taxes on an inherited house. The good news is that you'll be protected from some of the tax consequences of inheriting. Should you buyout the home? Talk to your siblings about a buyout if you want to be able to do what you want with the inherited house. How do you split the proceeds? If you're sharing, you need to know how to split the proceeds—after the estate pays out for taxes and upkeep and other expenses. What's the family situation? Be realistic about your family situation and your parents as you discuss family matters and take into account everyone's preferences. Meet this week's guest, Pam Krueger Pam Krueger is a recognized investor advocate, award-winning personal finance journalist and author. She is the founder and CEO of Wealthramp, an advisor-matching platform that connects consumers with rigorously vetted and qualified fee-only financial advisors. It is the only advisor referral service that gives people full control over when and how they talk to their referred advisors. Her perspectives on personal finance regularly appear in Marketwatch, Forbes, PBS Next Avenue, and she is a frequent speaker on fiduciary financial advice. In addition, Pam is an active volunteer member of the Retirement Income Committee at the Defined Contribution Institutional Investment Association (DCIIA), a non-profit dedicated to enhancing the retirement security of America's workers. She has also served on the California Jump$tart Coalition, an organization dedicated to increasing financial literacy among children and teens, where she created one of their most successful curricula available for K-12 teachers called, Investing Pays Off For Kids. Each year, she spends part of her time in San Francisco, California and lives in Cape Cod, Massachusetts. Wealthramp Podcast: MoneyTrack Podcast: Friends Talk Money Twitter LinkedIn Don't listen to podcasts? A podcast is basically a radio show you can listen to anywhere and anytime, either by downloading it to your smartphone, or by listening online. They're awesome for learning stuff and being entertained

26 min
9 SEPT

Trump Vs. Harris: Who's Better for Your Wallet?

In this episode of Money Talks News, Stacy Johnson and his team dive into the economic promises and potential impacts of the upcoming presidential election. With characteristic wit and skepticism, Stacy cuts through the campaign rhetoric to examine what Trump and Harris are really saying about the economy - and why much of it may be "bullsh--." From tariffs to tax cuts to home buyer incentives, Stacy breaks down the candidates' proposals and explains why many are unlikely to become reality. He also offers insights on how presidential policies actually affect the stock market and economy. If you're looking for straight talk on politics and your money, don't miss this lively and informative discussion! Become a member: https://www.moneytalksnews.com/members/ See omnystudio.com/listener for privacy information.

15 min
4 SEPT

Want to Make Money in Stock? Join the Club

You've undoubtedly met people who have made a lot of money in the stock market and dreamed you could become one, too. If that's you, I've got great news. You can learn to be a successful stock investor, make some money and maybe some friends while you're at it. How? By joining an investment club. Today we welcome Ionnie McNeill, a member of the nonprofit National Association of Investors to give us the lowdown. You can download the episode wherever you get your podcasts: Listen on Apple Podcasts Listen on YouTube Music (formerly Google Podcasts) Listen on Spotify Don't forget to check out our podcast page for more episodes designed to help you make the most of your money. What is an investment club? Our guest, Ionnie, talks about joining an investment club and how it's helped her and others become better investors. Even though it's relatively easy to start investing no matter how much money you have, sometimes it helps to learn from others. Plus, investment clubs can also provide support. For an index investor like Miranda, joining a club might not make sense. However, if you want to learn how to evaluate stocks and understand the metrics to use when picking stocks for your portfolio, an investment club can help. Ionnie takes us through the mechanics of her club and how it works to help new investors learn. Additionally, being part of an investment club can motivate you, even as a seasoned investor, to implement principles that will benefit your portfolio over time. We also talk about other types of investment clubs beyond stocks, like those that focus on real estate investing and other assets, that you can join based on your interests. How to avoid investment club scams Unfortunately, whenever you have a good thing, someone almost always wants to scam off it. That's the case with investment clubs as well. There are plenty of financial scams masquerading as investment clubs. Ionnie helps us understand some of the scam red flags to watch out for: A stranger approaches you online, through social media or texting app. There's no real vetting process. A legitimate investment club usually has requirements to join and a process that allows you to see if you fit. There's a focus on day trading or getting rich quick. The asset selection process isn't transparent and you're told there's minimal participation. Ionnie suggests joining the American Association of Individual Investors, which can help you find model portfolios and principles, and also checking out BetterInvesting.org, which can help you find (or even start) an investment club. Meet this week's guest, Ionnie McNeill[caption id="attachment_492295" align="alignnone" width="837"] Courtesy of Ionnie McNeill / Money Talks News[/caption] Ionnie McNeill is a longtime BetterInvesting member and volunteer, originally joining as a youth member. Currently, she is serving as a BI National Board Member and the President of the BetterInvesting South Florida Chapter. In the summer of 2020, Ionnie and 26 other people started the South Florida Model Investment Club, which welcomes visitors to come and observe how an investment club is run on BetterInvesting Principles. "The Baby Billionaire's Guide to Investing" is her children's book explaining the importance of investing early and the power of compound interest. She is originally from Miami, FL and is a proud graduate of Howard University. Don't listen to podcasts? A podcast is basically a radio show you can listen to anywhere and anytime, either by downloading it to your smartphone, or by listening online. They're awesome for learning stuff and being entertained when you're in the car, doing chores, jogging or riding your bicycle. You can listen to our latest podcasts here or download them to your phone from any number of places, including Apple, Spotify, RadioPublic, Stitcher and RSS. If you haven't listened to our podcast yet, give it a try, then subscribe. You'll be glad you did! About the h

46 min
30 AUG

Interest Rates Dropping Soon: Money Moves to Make Now

Today we’re tackling a hot topic in the world of finance—the possibility of the Federal Reserve cutting interest rates in September. That’s right, the market is buzzing with speculation about what the Fed might do, and we’re here to break down what a rate cut could mean for your investments, your retirement plans, and the economy as a whole. Could this potential move by the Fed be a boost to your portfolio, or might it signal something more concerning like a recession? We’ve got all the insights and strategies you need to prepare for whatever comes next. Become a member: https://www.moneytalksnews.com/members/ See omnystudio.com/listener for privacy information.

22 min
21 AUG

3 Steps to Take if Your Debts are Out of Control

Americans owe more than $1.1 trillion in credit card debt—and a good portion of that is because too many of us are using plastic to pay for basic necessities like rent and food. But no matter where your debt comes from, one thing's for sure. It's stressful. According to one survey, more than half of U.S. adults with debt say they feel stressed because of it. So what can you do if you're feeling overwhelmed? Consumer attorney and debt relief expert Leslie Tayne is here to save the day. She specializes in law-based debt solutions and today she's going to help us with the steps to take when we're feeling overwhelmed by debt. You can download the episode wherever you get your podcasts: Listen on Apple Podcasts Listen on YouTube Music (formerly Google Podcasts) Listen on Spotify Don't forget to check out our podcast page for more episodes designed to help you make the most of your money. Are you overwhelmed by your finances? It's not uncommon to feel overwhelmed by your debt. In fact, in this episode, we mention how Miranda made a mistake that destroyed her credit, even though she knew better. Stacy also talks about getting a handle on debt in his book Life or Debt. We also look at some of the signs that your finances might be heading off track with signs such as: Living paycheck to paycheck Having more bad debt vs. good debt Difficulty creating and sticking to a budget that works The good news is that you don't have to remain overwhelmed by your finances. And it doesn't mean you have to move or sell your car or take other steps that might not actually be helpful. Considerations when getting out of debt Our guest, Leslie, points out that no one method works for everyone. Some of the tips Leslie offers include: Try to detach from emotion as much as possible Look at your current finances, including whether you have a variable income Find ways to develop new habits and model better behaviors for your children Take into account short-term and long-term financial goals We also discuss debt consolidation vs. debt settlement and when it makes sense to seek help from an attorney like Leslie. Plus, if you're looking for help getting your credit score back on track, you can listen to our podcast episode about credit repair. Meet this week's guest, Leslie Tayne Leslie H. Tayne, Esq. is an award-winning financial attorney and author of Life & Debt. She has over 20 years of experience in consumer and business financial debt solutions, which includes negotiations with large international banks and credit agencies for loans, lines of credit, credit cards and student loans. Leslie is the founder and managing director of Tayne Law Group, P.C., a law firm headquartered in New York dedicated to debt solutions. Leslie is frequently sought out for her expertise on financial, credit, and debt topics in the media. As a speaker, she regularly provides insight and strategies regarding all areas of debt and credit-related solutions to outlets like the Huffington Post, Yahoo Finance, US News and World Report and MSN. Website Blog Twitter/X Instagram LinkedIn Don't listen to podcasts? A podcast is basically a radio show you can listen to anywhere and anytime, either by downloading it to your smartphone, or by listening online. They're awesome for learning stuff and being entertained when you're in the car, doing chores, jogging or riding your bicycle. You can listen to our latest podcasts here or download them to your phone from any number of places, including Apple, Spotify, RadioPublic, Stitcher and RSS. If you haven't listened to our podcast yet, give it a try, then subscribe. You'll be glad you did! About the hosts Stacy Johnson founded Money Talks News in 1991. He's a CPA, and he has also earned licenses in stocks, commodities, options principal, mutual funds, life insurance, securities supervisor and real estate. Miranda Marquit, MBA, is a financial expert, writer and speaker. She's been covering perso

41 min
14 AUG

The Top 4 Investing Blunders and How to Avoid Them

In this episode, we're talking about the top four mistakes investors make. When it comes to stocks, we all know we're supposed to buy low and sell high, but for many of us, that's a lot easier said than done. Many investors tend to buy when the market's topping, then panic and sell at the bottom. That's one common mistake investors make, but it's far from the only one. Today, we're talking to a behavioral investing expert about how simple mistakes can lead to big losses, especially during times of economic uncertainty. He's going to help us avoid falling into behavioral traps and make us all better investors. Host Stacy Johnson is joined by financial journalist Miranda Marquit. Listening in and sometimes contributing is producer Aaron Freeman. Our guest is Jason L. Smith, CEO and founder of C2P Enterprises and author of The Bucket Plan. Before you listen, remember: This isn't financial advice. So make sure to do your own research and consult your own experts before acting on anything you learn. You can listen to the podcast wherever you get your podcasts: Listen on Apple Podcasts Listen on Google Podcasts Listen on Spotify We all make money mistakes It's impossible to get through life without making a mistake or two. Whether it's listening to the wrong financial guru or even if you make a big mistake (like Miranda) that ruined your credit, we've all been there. We talk specifically about investing mistakes, but we have plenty of resources to help you identify and avoid other money mistakes. 12 Home-Selling Mistakes You'll Regret 7 of the Worst Car-Buying Mistakes You Can Make 6 Mistakes To Avoid When You Turn 65 27 Big Financial Mistakes That Most People Make — and How to Fix Them 14 Mistakes That Are Running Up Your Water Bill 16 First-Time Homebuyer Mistakes To Avoid 10 Embarrassing Mistakes Almost Everyone Makes 5 Retirement Planning Mistakes You'll Regret Forever 9 Money Mistakes Setting Fire to Your Future Investing for the future Don't let the fear of making mistakes keep you from investing. In fact, one of the biggest mistakes is not getting started. Here are some articles that can help you become a better investor. 3 Myths That Successful Investors Wish You'd Stop Believing Saving Is Not Enough: Why You Need to Invest 5 Simple Tips to Make Money With Stocks Investing in Gold and Gold IRAs: 5 Things You Need to Know How to Choose Between Active and Passive Investing 7 Things You Should Know Before Investing in I Bonds 9 Tips for Sane and Successful Stock Investing Environmental, Social and Governance (ESG) Investing: Hope or Hype? How to Invest When Both Stocks and Bonds Are Falling 7 of the Best Ways to Invest That Don't Involve Stocks How to Find the Best Dividend Stocks, Step by Step How to Position Your Investment Portfolio for Tax Advantages Meet this week's guest, Jason L. Smith Jason L. Smith, CEP®, BPC is a nationally acclaimed speaker, financial planner, best-selling author, coach, and entrepreneur. He is the founder and CEO of C2P, as well as JL Smith, his own holistically run financial services practice. Jason is the author of the best-selling book, The Bucket Plan: Protecting and Growing Your Assets for a Worry-Free Retirement, which was recently named by U.S. News & World Report as one of the Top 10 retirement planning books and the only one based on a financial planning process. He also wrote Clarity 2 Prosperity: An Advisor's Guide to Charging Planning Fees for Holistic Planning, and co-authored The Hiring Advantage. Jason's Bucket Plan philosophy inspired a children's book designed to teach kids responsible spending, saving, and earning principles, Days Can Be Sunny for Bunnies and Money. Jason and his wife, Holly, have a daughter, Jordan, and two sets of twins: Berkeley and Wyatt, and Lincoln and Lennon. Jason enjoys reading, grilling, yoga, strength training and anything that gets him outdoors. Website X (Twitter) Facebook Instagram LinkedIn Threads YouTube Don't li

39 min
7 AUG

5 Ways SECURE 2.0 Can Make You Richer

Americans are worried about retiring, with 61% concerned they won't have enough money to support their lifestyle. On top of that, 20% of those over the age of 50 don't have ANY retirement savings. This is a ticking time bomb for many people. But there's help on the horizon. Now, savers can supercharge their retirement savings now that more provisions from SECURE 2.0 Act of 2022 are going into effect. Secure 2.0 is a law encouraging employees to contribute to 401(k) or 403(b) plans. In today's podcast, Ed Slott, CPA and founder of IRAHelp.com, and author of The Retirement Savings Time Bomb Ticks Louder; helps us understand what savers need to know about SECURE 2.0 and how it can help them. You can download the episode wherever you get your podcasts: Listen on Apple Podcasts Listen on YouTube Music (formerly Google Podcasts) Listen on Spotify Don't forget to check out our podcast page for more episodes designed to help you make the most of your money. What you need to know about SECURE 2.0 This is a follow-up to an episode we did with Ed Slott last year, previewing SECURE 2.0 and what you need to know about the updates from the original SECURE Act passed in 2019. You might complain about politics and Congress, but it's important to stay on top of some of these changes. We talk about how some of the ways that SECURE 2.0 is starting to take effect, with our guest Ed pointing out that many of the provisions are spread out over the coming years. Some of the main changes you'll see in SECURE 2.0 include: New catch-up contributions for people aged 60-63 Automatic enrollment in 401(k) plans Roth versions of SEP and SIMPLE IRAs Updated QCDs The ability to roll 529 money into a Roth IRA What you need to know for a richer retirement Building a richer retirement is about planning and understanding how to use these new laws to get more bang for your retirement buck. We talk about how to plan for higher taxes in the future, whether an annuity makes sense and how to decide when to start relying on retirement income. We also discuss how some of the SECURE 2.0 provisions could lead to decisions that might not help your retirement. For example, the new ability to withdraw money for emergencies without paying the extra penalty could result in less money later. Ed points out that using retirement money in an emergency still results in taxes, and it could also lead to opportunity costs down the road. While life happens, having an emergency fund and only drawing on your retirement as a last resort. Meet this week's guest, Ed Slott Ed Slott is a nationally recognized IRA distribution expert, television personality, and best-selling author who has dedicated his life to educating Americans on the intricacies of IRAs.  He was named "The Best Source for IRA Advice" by The Wall Street Journal. Slott is the author of numerous highly acclaimed books, including his latest, The Retirement Savings Time Bomb Ticks Louder. He has also hosted several public television programs, including his latest, Ed Slott's Retirement Freedom!, and is a Professor of Practice at The American College of Financial Services. IRAhelp.com Get Ed's new book Don't listen to podcasts? A podcast is basically a radio show you can listen to anywhere and anytime, either by downloading it to your smartphone, or by listening online. They're awesome for learning stuff and being entertained when you're in the car, doing chores, jogging or riding your bicycle. You can listen to our latest podcasts here or download them to your phone from any number of places, including Apple, Spotify, RadioPublic, Stitcher and RSS. If you haven't listened to our podcast yet, give it a try, then subscribe. You'll be glad you did! About the hosts Stacy Johnson founded Money Talks News in 1991. He's a CPA, and he has also earned licenses in stocks, commodities, options principal, mutual funds, life insurance, securities supervisor and real estate. Miranda M

35 min
31 JUL

How to Retire at Any Age Using Your Retirement Number

Editor's Note: This episode initially aired on March 15, 2023. It may contain some details that are out of date. According to the latest report from Vanguard, looking at the average amount of money saved for retirement, there's a good chance you might not be on track for comfort in your golden years. The average 45-year-old has less than $180,000 saved for retirement. But how do you change that? How do you even figure out when you have enough to retire? This week's guest is going to help you figure out your retirement number — and how you can reach it. As usual, host Stacy Johnson is joined by financial journalist Miranda Marquit. Listening in and sometimes contributing is producer Aaron Freeman. This week's guest is Chris Mamula, one of the partners at Can I Retire Yet? He retired at 41 by figuring out his retirement number and working toward financial freedom. He's going to share his process and the steps you can take to retire earlier than you thought. Be aware that anything you hear on this podcast doesn't constitute financial advice. Always do your own research and consult your own experts before acting on anything you learn here. You can download the episode wherever you get your podcasts: Listen on Apple Podcasts Listen on Google Podcasts Listen on Spotify Don't forget to check out our podcast page for more episodes designed to help you make the most of your money. Do you know how much you need to save for retirement? We talk about the importance of being mindful, looking ahead and thinking about what you want out of life as you plan for retirement. Our guest, Chris, talks about the importance of a retirement number, but it's less of a specific number and more of a plan. Meet this week's guest, Chris Mamula used principles of traditional retirement planning, combined with creative lifestyle design, to retire from his career as a physical therapist at age 41. He, his wife and his young daughter then made a cross-country move from Pennsylvania to Utah to pursue their passion for outdoor adventure. After poor experiences with the financial industry early in his professional life, Chris educated himself on investing and tax planning, including recently completing the Certified Financial Planner education curriculum and passing the CFP exam. Chris now draws on his experiences to write and speak about DIY wealth building, investing, financial planning, early retirement and lifestyle design at the blog Can I Retire Yet? He is also the primary author of the book "Choose FI: Your Blueprint to Financial Independence." In addition, Chris works one-on-one with those looking to improve their finances and use them to create a better lifestyle as an advice-only financial planner with Abundo Wealth. Website Twitter Don't listen to podcasts? A podcast is basically a radio show you can listen to anywhere and anytime, either by downloading it to your smartphone, or by listening online. They're awesome for learning stuff and being entertained when you're in the car, doing chores, jogging or riding your bicycle. You can listen to our latest podcasts here or download them to your phone from any number of places, including Apple, Spotify, RadioPublic, Stitcher and RSS. If you haven't listened to our podcast yet, give it a try, then subscribe. You'll be glad you did! About the hosts Stacy Johnson founded Money Talks News in 1991. He's a CPA, and he has also earned licenses in stocks, commodities, options principal, mutual funds, life insurance, securities supervisor and real estate. Miranda Marquit, MBA, is a financial expert, writer and speaker. She's been covering personal finance and investing topics for almost 20 years. When not writing and podcasting, she enjoys travel, reading and the outdoors. Become a member: https://www.moneytalksnews.com/members/ See omnystudio.com/listener for privacy information.

38 min

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Creator

Money Talks News
Years Active

2019 - 2024
Episodes

102
Rating

Clean
Show Website

Money Talks News: The Podcast

Money Talks News: The Podcast

5 Things to Do Before You Inherit Your Parent's House

Trump Vs. Harris: Who's Better for Your Wallet?

Want to Make Money in Stock? Join the Club

Interest Rates Dropping Soon: Money Moves to Make Now

3 Steps to Take if Your Debts are Out of Control

The Top 4 Investing Blunders and How to Avoid Them

5 Ways SECURE 2.0 Can Make You Richer

How to Retire at Any Age Using Your Retirement Number

About

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Money Talks News: The Podcast

Episodes

5 Things to Do Before You Inherit Your Parent's House

Trump Vs. Harris: Who's Better for Your Wallet?

Want to Make Money in Stock? Join the Club

Interest Rates Dropping Soon: Money Moves to Make Now

3 Steps to Take if Your Debts are Out of Control

The Top 4 Investing Blunders and How to Avoid Them

5 Ways SECURE 2.0 Can Make You Richer

How to Retire at Any Age Using Your Retirement Number

About

Information

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