B******t on Stilts: A Field Guide to Financial Bullshitology

Keli Alo & Mark Robinson
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B******t on Stilts is what happens when two seasoned financial minds trade spreadsheets for microphones—and decide to call it like they see it.   With over 50 years of combined experience managing $600M+ in investments, financial planning, hedge funds, venture capital, and risk management, these guys have seen it all—especially the nonsense.   Armed with finely tuned BS detectors and a dark sense of financial humor, they cut through clichés, crap-spackle, and the “get-rich” gobbledygook passed off as advice.   Each episode tackles the real decision-making behind money moves—minus the pressure, hype, or sales pitch.   Call it financial myth busting. Call it money therapy. Just don’t call it boring.   Hosted by two unofficial doctors of Bullshitology™, this show offers sharp analysis, sharp laughs, and a 99.1% BS-free zone for grown-up conversations about money, mindset, and modern financial madness.

  1. 04/11/2025

    Chicken Little's Guide to Terrified Investing (and Why It Fails)

    What if everything you thought you knew about investment risk was wrong? That's the fascinating premise we explore in this eye-opening episode that challenges conventional wisdom about what makes investing "risky." Most people equate risk with volatility—those stomach-churning ups and downs in your 401(k) statement. But as we unpack through lively discussion and real-world examples, that volatility is only risky when mismatched with your time horizon. For long-term investors, those same market fluctuations actually generate the superior returns that build substantial wealth over decades. The true danger lies in ourselves—our behaviors, perceptions, and emotional reactions that sabotage even the soundest investment strategies. We dive deep into the many faces of investment risk: market risk, credit risk, interest rate risk, inflation risk, liquidity risk, and concentration risk. But we don't stop there. We explore how social media algorithms create echo chambers that reinforce harmful financial beliefs, and how propaganda and misinformation shape our investment decisions in ways we rarely recognize. As financial behavior expert Charles Ellis wisely noted, "The problem is not in the markets but in ourselves and our reactions to the market." For those seeking solutions, we examine practical approaches to managing risk—from traditional diversification strategies to innovative risk transfer mechanisms through insurance products. Whether you're a seasoned investor or just starting your financial journey, this episode provides clear, actionable insights to help you make investment decisions aligned with your true goals rather than driven by fear or misunderstanding. What's your relationship with risk? Your answer might reveal more about your financial future than any market forecast ever could. We love to hear your thoughts, questions, and ideas. Send us a text! Developing your financial bullshit sniffer one episode at a time.

    1h 1m

  2. 03/28/2025

    The Final Annuity Chapter: Taxes and Tactics

    Annuities often appear in retirement planning discussions surrounded by jargon and overpromises. But what happens when you look beyond the glossy brochure? This episode cuts through the sales tactics to reveal what you actually need to know about annuity taxation. We dive deep into the practical differences between qualified and non-qualified annuities, explaining how each is taxed and when penalties might apply. Did you know non-qualified annuities use a "last in, first out" approach to taxation, meaning all your gains get taxed first? Or that even non-retirement annuities face that dreaded 10% penalty before age 59½? These critical details often get buried in financial fine print. Beyond taxation, we explore how annuities can function as alternative assets within a diversified portfolio. Rather than viewing them solely as income vehicles, we demonstrate how stripped-down indexed annuities might reduce portfolio volatility while potentially adding incremental returns without the fees associated with many bond funds. Most importantly, we provide context for when annuities might actually make mathematical sense in your financial plan. By layering guaranteed income sources to cover essential expenses, you can create retirement security without sacrificing growth potential or liquidity. But this requires understanding exactly what you're buying and why you're buying it. Whether you're considering an annuity purchase or already own one, this episode equips you with the right questions to ask financial professionals. Remember - it's not just what they tell you that matters, but how they respond to your informed questions that reveals whether they truly have your best interests at heart. We love to hear your thoughts, questions, and ideas. Send us a text! Developing your financial bullshit sniffer one episode at a time.

    54 min

  3. 03/14/2025

    Annuity Riders: Customizing Your Retirement Safety Net

    Ready to cut through the fog of annuity jargon? This comprehensive breakdown of annuity riders demystifies how these powerful contract features can transform your retirement strategy. Financial anxiety often centers on three major concerns: outliving your money, facing catastrophic healthcare costs, and losing purchasing power to inflation. The right annuity riders address each of these fears by transferring specific risks from your shoulders to the insurance company's balance sheet. But this peace of mind comes at a price – rider fees typically range from 0.5% to 1.5% annually and are deducted directly from your contract value. We dissect the five most popular riders dominating today's marketplace: Guaranteed Lifetime Withdrawal Benefits that ensure income regardless of how long you live, Long-Term Care riders that provide enhanced benefits during health crises, Death Benefit riders that protect legacy planning, Cost of Living Adjustment riders that help income keep pace with inflation, and Enhanced Income riders that substantially boost withdrawal percentages. Each serves a distinct purpose in customizing your retirement income strategy. Perhaps most revealing is our examination of annuity "bonuses" – those attractive premium enhancements that might advertise a 20% immediate boost to your investment. We expose the vesting schedules that determine when (and if) that bonus money truly becomes yours, helping you understand the real value behind the marketing. Whether you're considering an annuity or already own one, this episode equips you with the knowledge to evaluate whether specific riders deliver value worth their cost. Listen now to sharpen your financial BS detector and make more informed retirement planning decisions. Have questions about your specific annuity contract? Text us your concerns, and we'll tackle them in upcoming episodes! We love to hear your thoughts, questions, and ideas. Send us a text! Developing your financial b******t sniffer one episode at a time.

    26 min

  4. 02/28/2025

    The Price of Peace of Mind: Total Costs of Annuities

    Are you considering an annuity for your retirement plan? Before diving in, it’s crucial to understand the hidden costs that might be lurking beneath the surface! In this enlightening episode, we unravel the complexities around annuity fees, providing you with a comprehensive understanding of what to look out for. We begin by demystifying annuities, dissecting their layered fee structures and emphasizing the importance of knowing what comprises each cost. From surrender charges that penalize early withdrawals to administrative fees that cover the basic management of your policy, we expose the financial intricacies that can dictate your overall investment performance. Diving deeper, we discuss the often-misunderstood mortality and expense risk fees that may come with additional riders or guarantees. These fees can significantly influence your financial outcomes and require careful consideration. We also touch on investment management fees unique to variable annuities and how these can inflate costs with numerous underlying investments. All these factors combine into what we refer to as the "parfait" of annuity expenses, where each layer contributes to your total investment cost. We aim to equip you with insights that will not only bolster your financial knowledge but also make you a more informed investor in annuities. Tune in for an engaging discussion that challenges you to think critically about your investment choices. Don’t forget to subscribe, share your thoughts, and leave a review—we love hearing from you! We love to hear your thoughts, questions, and ideas. Send us a text! Developing your financial b******t sniffer one episode at a time.

    19 min

  5. 02/14/2025

    Unpacking Annuities: From Roman Soldiers to Modern Engines

    What if the secret to a financially secure retirement is hiding in plain sight? Grab your favorite drink and join us for the season kickoff of Bullshit on Stilts, where we unravel the intriguing world of annuities. Our guest brings fresh insights into these often-misunderstood financial tools, tracing their roots back to Roman soldiers and dissecting modern types, from the steady fixed annuity to the adventurous variable and the futuristic indexed. We promise a light-hearted yet informative discussion that will equip you with the knowledge to determine if annuities deserve a spot in your financial strategy. Get ready for an episode packed with relatable analogies and humorous takes as we compare annuities to car engines to make sense of their mechanics. Fixed annuities are the reliable gas engines, while variable ones are like hybrids, offering a mix of investment options. And then we have indexed annuities, the electric engines of the bunch, providing a modern twist by tracking stock market indices. We navigate the phases of annuities, from premium to payout, breaking down how each phase offers its blend of flexibility and potential financial benefit. Season two of Bullshit on Stilts kicks off with a funky vibe, thanks to our talented content creators and musicians. As always, our mission is to strip away the financial fluff and myths, offering clarity in a world often clouded by misinformation. Whether you’re curious about the complex mechanics of annuities or seeking to refine your retirement strategy, this episode promises a blend of humor, insight, and the occasional cultural reference to keep things entertaining. Keep those critical thinking skills sharp, and don't forget to share your financial curiosities with us for future episodes! We love to hear your thoughts, questions, and ideas. Send us a text! Developing your financial b******t sniffer one episode at a time.

    34 min

  6. 02/05/2025

    Promo - Season 2 of B******t on Stilts

    Ever felt like financial advice is written in a language more confusing than Egyptian hieroglyphs? Fear not, fellow Sniffers! Bullshit on Stilts is here to lead you through the tangled web of money matters with laughter as our companion. Join us as we embark on a candid, fun, and educational journey, arming you with the tools to ask the right questions and see through the murky world of cash flow, investments, and insurance. With our quirky blend of comedy and clarity, we're on a mission to make finance as fun and accessible as a rollercoaster ride through a financial funhouse. To kick off season two, we're unraveling the mysteries of annuities, starting with an episode that promises to clear the fog around these financial products. Tune in on February 14th and discover if annuities could be a "right fit" for achieving a financial outcome. With our unique style, think of us as your knucklehead guides to financial enlightenment. You'll laugh, you'll learn, and you'll wonder why it ever seemed so complicated in the first place. Join us, and let's turn the daunting world of finance into a lively, joy-filled adventure—no spreadsheets required! We love to hear your thoughts, questions, and ideas. Send us a text! Developing your financial bullshit sniffer one episode at a time.

    1 min

  7. 12/16/2024

    Estate Plans: Debunking Myths & Unpacking the Crap Spackle

    Think estate planning is just for the wealthy? Think again! We bust this and other common myths wide open in our latest episode, where we blend humor with insightful analysis to make estate planning a topic everyone can understand and appreciate. You’ll learn why estate planning isn’t just a financial tool for the elite but a vital step for anyone who wants to ensure their wishes are respected and their loved ones are cared for, regardless of the size of their estate. We even throw in a playful playlist of estate-themed tunes to keep the mood light as we tackle this serious subject. We dive deep into the essential documents that form the backbone of a comprehensive estate plan, from powers of attorney and living wills to trusts and beneficiary designations. Discover how these important tools empower you and your designated individuals to manage your affairs during times of incapacitation. We aim to equip you with the knowledge to confront life's uncertainties with confidence, ensuring your assets are distributed as you wish and providing peace of mind for you and your loved ones. Join us in navigating through these essential conversations with a mix of levity and gravity, challenging conventional wisdom and empowering you to set up a solid plan for the future. We love to hear your thoughts, questions, and ideas. Send us a text! Developing your financial bullshit sniffer one episode at a time.

    27 min

  8. 12/02/2024

    Financial Fairy Tales 3: 50% of Your 401(k) is the Government's

    Ever seen those financial ads that scream, “Half your 401(k) belongs to the government!”? They’re designed to spark fear and uncertainty about retirement savings and taxes—but how accurate is this really? In this episode, we’re pulling back the curtain on these misleading claims to help you sharpen your b******t detector and make smarter financial decisions.  First, let’s tackle the scary tax myths. While it’s true that taxes can impact retirement savings, most Americans don’t face the apocalyptic tax rates these ads suggest. In fact, understanding your actual tax bracket and how withdrawals work can reveal a much less frightening reality.  Then there’s the sneaky phrase: “Let’s see if you qualify.” It sounds exclusive and tailored, right? But often, it’s a marketing tactic to hook you into an insurance product sales call rather than rescuing your retirement. Recognizing these red flags is a critical step in protecting your financial future.  By the end of this episode, you’ll have the tools to see through some of the “financial fairy tales” spread across social media. You’ll feel confident navigating the noise and focusing on facts—not fear—when making retirement related decisions.  Want more tips? Check out our previous Episodes #17 and #18, where we dive into Tax-Free Retirement Accounts and Tax-Free Roth Conversions, cycling through social media financial misinformation traps. Let’s get after it!  We love to hear your thoughts, questions, and ideas. Send us a text! Developing your financial bullshit sniffer one episode at a time.

    15 min
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About

B******t on Stilts is what happens when two seasoned financial minds trade spreadsheets for microphones—and decide to call it like they see it.   With over 50 years of combined experience managing $600M+ in investments, financial planning, hedge funds, venture capital, and risk management, these guys have seen it all—especially the nonsense.   Armed with finely tuned BS detectors and a dark sense of financial humor, they cut through clichés, crap-spackle, and the “get-rich” gobbledygook passed off as advice.   Each episode tackles the real decision-making behind money moves—minus the pressure, hype, or sales pitch.   Call it financial myth busting. Call it money therapy. Just don’t call it boring.   Hosted by two unofficial doctors of Bullshitology™, this show offers sharp analysis, sharp laughs, and a 99.1% BS-free zone for grown-up conversations about money, mindset, and modern financial madness.

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