Thoughts On Money [TOM]

Trevor Cummings
  • 5.0 (35)
  • Investing
  • Updated Biweekly

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.

  1. 22h ago

    Share It. Now.

    This week's blogpost - https://bahnsen.co/3RwqRr9 Trevor Cummings hosts the Thoughts on Money (TOM) podcast with Blaine Carver and blog author Matt Gregory to discuss Matt’s article on lifetime gifting versus waiting to transfer wealth at death. They explain the annual gift exclusion ($19,000 per person, doubled for married couples) and how repetition can move substantial amounts without using the federal lifetime exemption (about $15 million per person), especially when gifts are invested outside the taxable estate and annual limits may rise. They cover practical gifting methods such as direct payments for education and medical costs, using notes and annual loan forgiveness for home purchases, and trusts with guardrails to avoid harming children’s motivation. The conversation addresses state-level estate taxes (noting 13 states and Illinois’s $4 million threshold), the importance of communication, and cautions about AI advice and gifting appreciated stock due to basis and capital gains implications. 00:00 Welcome and Introductions 00:37 Why Give While Living 02:41 What Holds Families Back 03:53 Client Conversations Driving It 05:47 Creative Gifting Strategies 06:54 Repetition Builds Wealth 09:42 Avoid Ruining the Kids 12:10 Training Wheels and Family Talks 14:14 Balancing Transparency and Prudence 18:36 Communication and Expectations 22:24 State Estate Tax Nuances 28:09 AI Advice and Hidden Pitfalls 32:22 Final Takeaways and Wrap Up Links mentioned in this episode: http://thoughtsonmoney.com http://thebahnsengroup.com

  2. Jul 17

    Why Planning for Aging Has to Start Before There’s a Crisis

    This week's blogpost - https://bahnsen.co/4wQMnWQ Trevor Cummings hosts the Thoughts on Money podcast with Blaine Carver and blog author Sarah Leitzke, who opens with a family story about her grandparents buying “Vitamin O,” later found to be a scam, to highlight how older adults can become vulnerable to fraud, especially amid cognitive decline. The conversation covers real-world scam examples, warning signs of memory issues, and the importance of proactive family communication, document organization, and having trusted advisors involved before problems escalate, including challenges posed by AI deepfake voices. They discuss long-term care planning, including when to consider coverage (roughly ages 50–75), underwriting limits, and the shift from traditional long-term care policies with rising premiums toward hybrid life/long-term-care policies and indemnity-style benefits. They close with practical steps: start conversations early, update estate documents, inventory accounts and policies, and plan for solo agers. 00:00 Welcome to TOM 00:17 Vitamin O Storytime 02:49 Aging and Scam Risks 07:00 Spotting Cognitive Decline 11:41 Proactive Family Planning 16:41 Long Term Care Basics 21:36 Insurance Pooling Explained 24:21 Stress Testing the Plan 29:05 Ideal Age and Benefits 32:26 Practical Next Steps 39:04 Advisor Value and Wrap Up Links mentioned in this episode: http://thoughtsonmoney.com http://thebahnsengroup.com

  3. Jul 10

    Temptation or Temperament?

    This week's blogpost - https://bahnsen.co/4vpHumt On the Thoughts on Money (TOM) podcast, host Trevor Cummings, Ishan, and Blaine Carver discuss Ishan’s article “Temptation or Temperament,” contrasting efficient capital markets (efficient market hypothesis, especially the semi-strong form where public information is priced in) with inefficient human behavior. They explore how sentiment and biases—loss aversion, recency bias, and herding—drive bubbles and poor decisions, illustrated by Isaac Newton’s South Sea Company loss after initially profiting, plus examples like ticker-symbol confusion and volatile AI-related stocks. The group emphasizes that fear often outweighs greed for investors, that long time horizons and staying invested matter, and that active management supports price discovery when paired with conviction and discipline. They also cover how advisors balance empathy with prudence when clients request risky trades, underscoring self-control and proactive expectation-setting. 00:00 Podcast Introductions 00:26 Self Control Story 02:10 Markets Versus Humans 04:22 What Efficiency Means 06:38 Forms of EMH 09:24 Bubbles And EMH 11:47 Newton And South Sea 17:09 Biases And Herding 18:33 Greek Yogurt Herding 19:41 Fear Versus Greed 21:17 Fear Versus Entrepreneurship 22:07 AI Trade And Market Themes 24:59 Temperament And Time Horizon 25:25 Why Active Management Matters 28:19 Efficient Markets Or Wild Swings 30:44 Human Errors And Market Irrationality 34:29 Advisors Empathy With Discipline 38:34 Research Process And Conviction 41:54 Closet Indexing And Active Share 45:37 Final Thoughts Self Control Links mentioned in this episode: http://thoughtsonmoney.com http://thebahnsengroup.com

  4. Jun 26

    Trump Accounts: Game-Changer or Gimmick?

    This week's blogpost - https://bahnsen.co/4eu3cR3 Brett Bonecutter hosts “Thoughts on Money” with author Blaine Carver to discuss “Trump accounts,” launching July 4, and whether they’re a game changer or gimmick. Carver compares them to his grandmother’s $1,000 investing gift and argues the accounts’ biggest impact is behavioral—getting more Americans, especially those without assets in a “K-shaped economy,” invested in markets and compounding. Any U.S. child under 18 with a Social Security number can have an account; children born 2025–2028 receive a $1,000 Treasury seed deposit, and contributions up to $5,000/year are allowed but not deductible. Funds are largely locked until 18, invested in U.S. stock index funds, then treated like a traditional IRA with taxes/penalties on early withdrawals, making them poor for college or down payments. Carver highlights a potentially powerful Roth conversion strategy in early adulthood and contrasts use cases with 529s, UTMAs/UGMAs, trusts, and child Roth IRAs. 00:00 Trump Accounts Intro 01:47 Blaine Investing Origin Story 03:45 Early Money Mindset 06:22 Behavioral Game Changer 07:50 K Shaped Economy Context 12:35 Compounding From Birth 14:36 Eligibility And Seed Money 17:50 Rules And Restrictions 20:26 Tax Tradeoffs Explained 22:17 Who Owns The Account 23:08 Retirement Focus Tension 24:40 Early Withdrawal Temptation 25:32 Stronger Penalties Debate 27:11 Basis and Tax Complexity 32:27 Take the Free Seed Money 34:19 Roth Conversion Strategy 41:45 Choosing the Right Account 46:12 Dave Ramsey and Behavior 48:40 Closing and Next Episode Links mentioned in this episode: http://thoughtsonmoney.com http://thebahnsengroup.com

  5. Jun 12

    Food for Thought - The Economics of Eating

    This week's blogpost - https://bahnsen.co/3RTyKah Trevor Cummings hosts the Thoughts on Money (TOM) podcast with Brett Bonecutter and Blaine Carver to discuss Brett’s article on food and its economic and cultural implications. They explore how nearly any topic connects to money, then reflect on family dinners, modern home layouts, and how convenience and abundance may reduce intentional time together. Brett shares “food dollar collapse” data: food fell from nearly 50% of household budgets in the early 1900s to 9.7% in 2025, while spending has flipped from mostly groceries to mostly eating out/convenience, and time in the kitchen dropped from six hours per day to about 45 minutes. They discuss trade-offs like lowered appreciation, snacking, delivery markups, loss of cooking skills, and “options overload” in stores with 32,000 items, plus a brief MAHA-related comparison of past low medical spending versus today’s higher costs. 00:00 Welcome to TOM 00:14 Why Talk About Food 02:15 Dinner Table Culture 06:30 Food Memories and Nostalgia 09:46 Food Dollar Collapse 15:29 Abundance Trade Offs 20:12 Convenience and Eating Out 22:04 Convenience And Doomscrolling 23:50 Cooking As Joy And Budget 26:55 Learning Kitchen Skills 28:36 Generations And Eating Out 30:42 MAHA Food And Healthcare 33:09 Pop Tarts And Choice Overload 36:09 Tradeoffs Gratitude And Wrap Links mentioned in this episode: http://thoughtsonmoney.com http://thebahnsengroup.com

  6. Jun 5

    A Financial Planning Superpower

    This week's blogpost - https://bahnsen.co/4voyr5t Trevor Cummings and Brett Bonecutter discuss superheroes as a metaphor for investing, contrasting “superhuman” finance promises that are often too good to be true with the practical “Batman” approach of using tactical discipline. Trevor argues that earmarking—assigning a clear purpose and time horizon to every dollar—is a personal finance superpower that guides account selection, tax strategy (e.g., using a 529 for college savings), liquidity needs, and asset allocation, and helps avoid being over-allocated to either stocks for near-term needs or cash for long-term goals. They explore why common allocations like 60/40 exist, how disconnected investors can be from the purpose of their portfolios, how estate planning naturally forces earmarking, and why some clients with projected surpluses may benefit from gifting during their lifetime, while warning that earmarking can be overdone in retail banking-style account proliferation. 00:00 Welcome 00:34 Superhero Fandom Stories 02:32 Favorite Powers and Old Movies 04:37 Batman vs Superman Finance 07:09 Earmarking Explained 10:45 Purpose Before Investing 14:12 Portfolio Theory vs Reality 15:22 Why 60 40 Exists 20:34 Popcorn Portfolio Metaphor 22:42 Big Expense Earmarks 25:34 Vacations Versus Budget 26:35 Legacy And Estate Goals 29:40 Gifting While Alive 32:14 4 Percent Rule Surplus 34:01 Overearmarking Cautionary Tale 36:47 Envelope Method Explained 41:31 All Money Has Purpose 43:29 Cash Heavy Portfolios 45:55 Conclusion Links mentioned in this episode: http://thoughtsonmoney.com http://thebahnsengroup.com

  7. May 28

    35,000 Feet & The Things That Matter

    This week's blogpost - https://bahnsen.co/4eayQTh Today, Matthew Gregory writes the Thoughts on Money article, and discusses with Trevor about how to reframe estate planning from something morbid into an act of love that protects the people you care about by reducing logistical and legal burdens during grief. Using The Princess Bride’s “prepare to die” line and analogies like board games and omakase, they emphasize starting with basics (wills, trusts, medical directives, powers of attorney, guardianship) before complex strategies, and ensuring plans are stored and understood (even via one-page flowcharts). They note estate planning applies at all ages, including young adults facing HIPAA limits, and can be revisited as life and laws change. Trevor argues estate planning often ranks ahead of investment strategy, and they close by suggesting viewers consider whether planned end-of-life gifts (to family or charity) might be better made during life for qualitative and potential tax benefits. 00:00 Intro 00:49 Estate Planning as Love 03:50 "Prepare to Die" Moment 05:41 Executor Lessons and Family First 08:34 Start Simple, Not Complex 11:38 Settler's of Catan Strategy 16:39 Guided Advice, Omakase Style 19:59 Estate Planning Before Investing 25:47 All Ages and Family Transparency 27:52 Avoid Overengineering the Plan 32:45 Lean Into Discomfort 33:48 Give While Living 35:57 Wrap Up and Conclusions Links mentioned in this episode: http://thoughtsonmoney.com http://thebahnsengroup.com

  8. May 22

    The Jetsons vs. The Terminator - The Two Visions of Artificial Intelligence

    This week's blogpost - https://bahnsen.co/3PFBC9R With Trevor Cummings out, host Blaine Carver talks with author Brett Bonecutter about artificial intelligence through the competing visions of a utopian “Jetsons” future versus a dystopian “Terminator” outcome. They discuss how AI may be overhyped in the short run but underestimated over the long run, define AI as pattern-recognition systems that amplify human creativity and error, and address concerns about sentience, hacking, and misuse. Brett contrasts materialist and spiritual views of what it means to be human, arguing AI will mirror human nature and produce both major benefits (like medical breakthroughs) and serious harms. They cover job disruption, emphasizing roles involving “emotional friction,” and investing implications, noting most diversified investors already have significant AI exposure and that picking winners may include losers. 00:00 Trevor Is Out Today 00:52 AI Hype And FOMO 03:35 Dotcom Lessons For AI 07:18 Disruption And Destruction 10:28 Utopia Vs Dystopia 13:07 Defining Artificial Intelligence 18:25 Singularity And AI Risks 22:40 What It Means To Be Human 24:54 Materialism Meets AI 26:49 AI as New Species 27:27 Imago Dei Framework 31:39 Purpose to Transform 32:28 AI Mirrors Humanity 34:08 Jetsons vs Terminator 34:55 Jobs and Emotional Friction 39:17 Kitchen Table Work 41:49 Investing Without FOMO 44:35 Culture Shapes AI 46:59 Wrap Up and Disclosures Links mentioned in this episode: http://thoughtsonmoney.com http://thebahnsengroup.com

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About

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.

Information

  • Creator
    Trevor Cummings
  • Years Active
    2019 - 2026
  • Episodes
    279
  • Rating
    Clean
  • Copyright
    © Trevor Cummings All Rights Reserved
  • Show Website
    Thoughts On Money [TOM]

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