The Decision Dividend

Greenspring Advisors
  • 5.0 (7)
  • Investing
  • Biweekly

A podcast specifically focused on helping every person live their ideal life by helping them make better decisions around their finances, relationships, and life.

  1. 4d ago

    Year-End Financial Planning Decisions You Need to Make by December 31

    Some financial-planning opportunities can wait until you file your tax return. Others disappear when the calendar turns to January. In Episode 45 of The Decision Dividend, Marcus Schafer is joined by Tim Daly, CFP®, CPA, TPCP® to discuss the year-end decisions investors should evaluate before December 31. Rather than focusing only on reducing this year’s taxes, the conversation examines how today’s choices can affect your lifetime tax bill. You’ll learn: How to identify the year-end moves that fit your situation, including Roth conversions, realizing investment gains or losses, charitable giving, retirement contributions, and annual gifts. Why your marginal tax rate may be more complicated than the bracket shown on a tax table, particularly when deductions, capital-gains rates, Medicare premiums, and other phaseouts interact. How a year-end tax projection can help coordinate your income, deductions, withholding, and estimated payments before important deadlines pass. Chapters 00:00 Year-End Decisions to Make Before December 31 01:54 Tax Planning vs. Tax Preparation 04:18 What Changed for 2026 Tax Planning 05:43 The Hidden Tax Rates Created by Phaseouts 13:07 New Charitable-Giving Decisions for 2026 17:31 Harvesting Losses and Gains 31:02 When a Roth Conversion Makes Sense 35:00 Annual Gifts Before Year-End 36:21 Retirement Contribution Limits and QCDs 39:08 Required Minimum Distributions 40:19 Withholding, Estimated Payments, and Tax Penalties 42:48 Why You Should Not Wait Until December 31 45:16 Focus on Your Lifetime Tax Bill   If charitable giving is part of your year-end planning, our previous episode, Advanced Charitable Giving Strategies, takes a deeper look at how to give more effectively, including strategies that can help align your generosity with your tax, investment, and legacy goals. Follow The Decision Dividend Subscribe on Apple Podcasts Follow on Spotify Subscribe for Episode Updates Disclosure Information contained herein has been obtained from sources considered reliable, but its accuracy and completeness are not guaranteed. It is not intended as the primary basis for financial planning or investment decisions and should not be construed as advice meeting the particular investment needs of any investor. This material has been prepared for information purposes only and is not a solicitation or an offer to buy any security or instrument or to participate in any trading strategy. Past performance is no guarantee of future results. This material is not tax or legal advice. Consult qualified tax and legal professionals before implementing a year-end planning strategy.

    Year-End Financial Planning Decisions You Need to Make by December 31

  2. Oct 13

    Advanced Charitable Giving Strategies

    Giving starts with a cause you care about. But once you decide to give, another question follows: What is the most effective way to do it? Writing a check may be the simplest option, but it is not always the most effective. In Episode 44 of The Decision Dividend, Pat Collins and Marcus Schafer continue their conversation on intentional philanthropy by exploring the financial-planning and tax considerations behind charitable giving. How to choose the right giving strategy based on your goals, tax situation, and stage of life. Ways to make charitable dollars go further, from appreciated investments and donor-advised funds to qualified charitable distributions. When advanced planning strategies may make sense for families focused on legacy, estate planning, and long-term impact. The goal is not simply to reduce taxes. It is to coordinate your giving with your investments, income, estate plan, and the impact you want your charitable dollars to have. If giving is part of your plan, this episode can help you understand the options and ask better questions before you act.   Chapters 00:00 From the “Why” to the “How” of Charitable Giving 01:43 Start with Your Financial Plan 03:10 The Real Financial Cost of Giving 06:13 Standard vs. Itemized Deductions 10:45 How New Tax Rules Affect Charitable Giving 12:19 Bunching Multiple Years of Charitable Giving 16:14 Why a Tax Projection Helps 17:30 Donating Appreciated Investments Instead of Cash 20:14 Resetting Cost Basis and Diversifying Your Portfolio 24:21 How Donor-Advised Funds Work 29:34 Qualified Charitable Distributions from an IRA 33:09 A Common QCD Tax-Reporting Mistake 36:27 Private Foundations 42:36 A New Deduction for Cash Gifts 43:19 Charitable Trusts 48:46 Putting the Charitable Giving Strategies Together 50:10 Giving Well Requires Planning If you missed Episode 43, our conversation with the CEO of the Baltimore Community Foundation explores how to evaluate causes, nonprofits, and philanthropic impact before deciding where to give. Watch Episode 43: How to Give More Intentionally with Dr. Shanaysha Sauls   Follow The Decision Dividend Subscribe on Apple Podcasts Follow on Spotify Subscribe for Episode Updates   Information contained herein has been obtained from sources considered reliable, but its accuracy and completeness are not guaranteed. It is not intended as the primary basis for financial planning or investment decisions and should not be construed as advice meeting the particular investment needs of any investor. This material has been prepared for information purposes only and is not a solicitation or an offer to buy any security or instrument or to participate in any trading strategy. Past performance is no guarantee of future results. This material is not tax or legal advice. Consult qualified tax and legal professionals before implementing a charitable-giving strategy.

    Advanced Charitable Giving Strategies

  3. Sep 29

    How to Give More Intentionally with Dr. Shanaysha Sauls

    Giving sounds easy. Giving well takes thought. In Episode 43 of The Decision Dividend, Dr. Shanaysha Sauls, President & CEO of the Baltimore Community Foundation, joins us to discuss her simple framework for charitable decision-making. Gut. Head. Heart. Together we discuss: • How thoughtful donors evaluate nonprofits before making significant gifts  • What Form 990s and funding sources can reveal about a nonprofit's financial resilience • Why overhead is often misunderstood and impact is difficult to measure  • How families can transfer not just wealth, but philanthropic values and legacy  • How businesses can develop a giving strategy that reflects their values and community priorities Chapters 00:00 Giving Sounds Easy. Giving Well Takes Thought. 06:21 What Community Foundations Actually Do 09:43 Defining Your Philanthropic Why 14:55 Gut. Head. Heart. 19:22 Understanding Nonprofit Funding Sources 26:04 The Truth About Overhead 32:36 Measuring Impact Beyond Outputs 39:44 Transferring Legacy Across Generations 47:51 Building a Corporate Giving Strategy 52:29 The One Question Every Donor Should Ask Follow The Decision Dividend Subscribe on Apple Podcasts  Follow on Spotify  Subscribe for Episode Updates  Information contained herein has been obtained from sources considered reliable, but its accuracy and completeness are not guaranteed. It is not intended as the primary basis for financial planning or investment decisions and should not be construed as advice meeting the particular investment needs of any investor. This material has been prepared for information purposes only and is not a solicitation or an offer to buy any security or instrument or to participate in any trading strategy. Past performance is no guarantee of future results. This material is not tax or legal advice. Consult qualified tax and legal professionals before implementing a charitable-giving strategy.

    How to Give More Intentionally with Dr. Shanaysha Sauls

  4. Sep 15

    The Most Important Number in Finance: The Risk-Free Rate

    What it is, why it matters, and who really sets it. Interest rates influence nearly every financial decision, from what you earn on cash to what you pay on a mortgage and how stocks, bonds, real estate, and businesses are valued. But despite how often we hear about “the interest rate,” there is no single rate, and the Federal Reserve does not control all interest rates. In Episode 42 of The Decision Dividend, Pat Collins and Marcus Schafer explain the risk-free rate, the forces that shape it, and what changes in interest rates actually mean for savers and borrowers. You’ll learn: Why “the interest rate” is actually a curve with different rates for different time periods How the Federal Reserve and financial markets each influence interest rates How changing rates may affect your cash, debt, investments, taxes, and financial plan Market rates and statistics are as of August 27, 2026. Sources Board of Governors of the Federal Reserve System, “15 Selected Interest Rates.” Federal Reserve Bank of New York, “Monetary Policy Implementation.” Eugene F. Fama, “Does the Fed Control Interest Rates?” The Review of Asset Pricing Studies, 2013. Fama, “Does the Fed Control Interest Rates?” John H. Cochrane, “Who Is Walking Who?” 2015. Cochrane, “Who Is Walking Who?” Dimensional Fund Advisors, “What Happens to Stocks When Interest Rates Change?” Vanguard, “Why Higher Yields May Be Good for Many Retirement Investors,” 2023. Federal Reserve H.15 and Federal Reserve Bank of New York for rates Investment Company Institute [for money market fund assets] https://www.ici.org/research/stats/mmf YCharts https://www.linkedin.com/posts/-justinbrown_investing-chartoftheweek-activity-7498762196001157120-vdPh?utm_source=share&utm_medium=member_desktop&rcm=ACoAADVDgmAB8c4Wr1FL_cn1hvA9192lEx_eUYQ   Follow The Decision Dividend Subscribe on Apple Podcasts Follow on Spotify Subscribe for Episode Updates   Information contained herein has been obtained from sources considered reliable, but its accuracy and completeness are not guaranteed. It is not intended as the primary basis for financial planning or investment decisions and should not be construed as advice meeting the particular investment needs of any investor. This material has been prepared for information purposes only and is not a solicitation or an offer to buy any security or instrument or to participate in any trading strategy. Past performance is no guarantee of future results.

    The Most Important Number in Finance: The Risk-Free Rate

  5. Sep 1

    License to Spend: How to Use Money to Build a Happier Life

    Last episode explored how more money can improve well-being. So, how should you spend it to improve your life? In Episode 41 of The Decision Dividend, Pat Collins and Marcus Schafer explore research suggesting that experiences, spending on others, and buying back time often produce more happiness than material purchases alone. You’ll learn: Why experiences create lasting happiness through anticipation, connection, and memories How giving to others can strengthen relationships and create a greater sense of purpose Why buying back time can reduce stress and make room for what matters most How to make material purchases more rewarding   Episodes Referenced Episode 40, Can Money Buy Happiness? A Nobel Laureate’s Famous Finding Revisited Episode 10, How Much Money Do I Need to Retire? Episode 33, Where Should Your Extra Savings Go?   Sources Elizabeth W. Dunn, Daniel T. Gilbert, and Timothy D. Wilson, “If Money Doesn’t Make You Happy, Then You Probably Aren’t Spending It Right,” Journal of Consumer Psychology, 2011. https://www.sciencedirect.com/science/article/abs/pii/S1057740811000209 Thomas Gilovich, Amit Kumar, and Lily Jampol, “A Wonderful Life: Experiential Consumption and the Pursuit of Happiness,” Journal of Consumer Psychology, 2015. https://www.sciencedirect.com/science/article/abs/pii/S105774081400093X Bill Perkins, Die With Zero: Getting All You Can from Your Money and Your Life, 2020. https://dwzero.com/ Leaf Van Boven and Thomas Gilovich, “To Do or to Have? That Is the Question,” Journal of Personality and Social Psychology, 2003. https://pubmed.ncbi.nlm.nih.gov/14674824/ Elizabeth W. Dunn, Lara B. Aknin, and Michael I. Norton, “Spending Money on Others Promotes Happiness,” Science, 2008. https://pubmed.ncbi.nlm.nih.gov/18356530/ Lara B. Aknin, Elizabeth W. Dunn, and Michael I. Norton, “Happiness Runs in a Circular Motion: Evidence for a Positive Feedback Loop Between Prosocial Spending and Happiness,” Journal of Happiness Studies, 2012. https://www.hbs.edu/faculty/Pages/item.aspx?num=42426 Ashley V. Whillans, Elizabeth W. Dunn, Paul Smeets, Rene Bekkers, and Michael I. Norton, “Buying Time Promotes Happiness,” Proceedings of the National Academy of Sciences, 2017. https://www.pnas.org/doi/10.1073/pnas.1706541114 Sandra C. Matz, Joe J. Gladstone, and David Stillwell, “Money Buys Happiness When Spending Fits Our Personality,” Psychological Science, 2016. https://pubmed.ncbi.nlm.nih.gov/27056977/ https://www.irs.gov/retirement-plans/retirement-plan-and-ira-required-minimum-distributions-faqs Follow The Decision Dividend Subscribe on Apple Podcasts Follow on Spotify Subscribe for Episode Updates Information contained herein has been obtained from sources considered reliable, but its accuracy and completeness are not guaranteed. It is not intended as the primary basis for financial planning or investment decisions and should not be construed as advice meeting the particular investment needs of any investor. This material has been prepared for information purposes only and is not a solicitation or an offer to buy any security or instrument or to participate in any trading strategy. Past performance is no guarantee of future results.

    License to Spend: How to Use Money to Build a Happier Life

  6. Aug 18

    Can Money Buy Happiness? A Nobel Laureate’s Famous Finding Revisited

    The headline was simple: happiness reaches a point of diminishing returns around $75,000 of income. The research that followed revealed a more complicated reality in which additional income can still improve well-being, but not equally for everyone or in every circumstance. In Episode 40 of The Decision Dividend, Pat Collins and Marcus Schafer explore what the evolving evidence can teach us about money, happiness, and the meaning of “enough.” You’ll learn: What the original $75,000 happiness study actually found and how newer research changed its interpretation The one question Pat asked to get his family talking about money and why the same dollar can represent security, freedom, or generosity to different people How high earners and millionaires can make more intentional financial decisions, including whether to work longer, spend more, or use their wealth to create greater belonging and purpose For a deeper look at the financial side of defining enough, revisit Episode 10, How Much Money Do I Need to Retire?   Chapters 00:00 Can Money Buy Happiness? (1, 2, 3) 03:37 Measuring Happiness and the Famous $75,000 Finding (1) 10:44 What Does “Enough” Really Mean? 15:50 How Income Affects Happy and Unhappy People Differently (2, 3) 18:29 Wealth, Luck, and Gratitude 22:31 Security, Belonging, and Purpose 27:25 What Does Money Mean to You? 31:12 How High Earners and Millionaires Can Think About Spending 35:41 Buying Back Time and Strengthening Relationships 40:17 Should You Work One More Year?   Sources Daniel Kahneman and Angus Deaton, “High Income Improves Evaluation of Life but Not Emotional Well-Being,” Proceedings of the National Academy of Sciences, 2010 https://www.pnas.org/doi/full/10.1073/pnas.1011492107 Matthew A. Killingsworth, “Experienced Well-Being Rises with Income, Even Above $75,000 per Year,” Proceedings of the National Academy of Sciences, 2021 https://www.pnas.org/doi/full/10.1073/pnas.2016976118 Matthew A. Killingsworth, Daniel Kahneman, and Barbara Mellers, “Income and Emotional Well-Being: A Conflict Resolved,” Proceedings of the National Academy of Sciences, 2023 https://www.pnas.org/doi/10.1073/pnas.2208661120   Follow The Decision Dividend Subscribe on Apple Podcasts Follow on Spotify Subscribe for Episode Updates   Sources include Kahneman and Deaton (2010), Killingsworth (2021), and Killingsworth, Kahneman, and Mellers (2023). These studies report population-level associations between income and self-reported well-being; they do not establish causation or predict results for any individual. Study measures, samples, and income levels differ. This discussion is for educational purposes and is not individualized investment, tax, or legal advice. Financial planning involves assumptions and cannot assure that goals will be achieved. Individual circumstances and outcomes vary. The examples and heuristics referenced are illustrative rules of thumb, not planning advice. Information contained herein has been obtained from sources considered reliable, but its accuracy and completeness are not guaranteed. It is not intended as the primary basis for financial planning or investment decisions and should not be construed as advice meeting the particular investment needs of any investor. This material has been prepared for information purposes only and is not a solicitation or an offer to buy any security or instrument or to participate in any trading strategy. Past performance is no guarantee of future results. This discussion is for educational purposes and is not individualized investment, tax, or legal advice. Financial planning involves assumptions and cannot assure that goals will be achieved. Individual circumstances and outcomes vary.

    Can Money Buy Happiness? A Nobel Laureate’s Famous Finding Revisited

  7. Aug 6

    Is Direct Indexing Worth the Complexity with Brant Cavagnaro

    Have markets and technology advanced enough that investors should consider owning the individual stocks in an index rather than investing through a pooled vehicle such as an ETF or mutual fund? In Episode 39 of The Decision Dividend, we’re joined by Brant Cavagnaro to explore how direct indexing works, who may benefit most, and when a low-cost commingled fund may still be the better choice. You’ll learn: What distinguishes direct indexing from an ETF, mutual fund, or traditional separately managed account How direct indexing may turn tax drag into potential tax alpha, even in rising markets Which investors may benefit most from personalizing portfolios, harvesting losses, offsetting large gains, and donating appreciated securities The limits of direct indexing, from the downsides of personalization to tax benefits that may fade over time Sources Shomesh E. Chaudhuri, Terence C. Burnham, and Andrew W. Lo, “An Empirical Evaluation of Tax-Loss-Harvesting Alpha,” Financial Analysts Journal, 2020 https://rpc.cfainstitute.org/research/financial-analysts-journal/2020/0015198x-2020-1760064 Vanguard, “Tax-Loss Harvesting: Why a Personalized Approach Is Important” https://corporate.vanguard.com/content/dam/corp/research/pdf/tax_loss_harvesting_why_a_personalized_approach_is_important.pdf Libor Gromis, Nathan Sosner, and Steven Krasner, “The Tax Benefits of Direct Indexing: Not a One-Size-Fits-All Strategy,” AQR https://www.aqr.com/Insights/Research/Journal-Article/The-Tax-Benefits-of-Direct-Indexing Savina Rizova and Mark Krasniewski, “A Historical Perspective on Multifaceted Tax Management,” Dimensional Fund Advisors, 2025 https://www.dimensional.com/us-en/insights/a-historical-perspective-on-multifaceted-tax-management For a broader look at how direct indexing fits alongside other investment innovations, revisit Episode 27, The Future of Investment Management: https://www.youtube.com/watch?v=NktNNSc44NM&t=492s Follow on Apple Podcasts: https://podcasts.apple.com/us/podcast/greenstream/id1795467982 Follow on Spotify: https://open.spotify.com/show/26NYX6WD7godcJAYVE0Yk8?si=Qxj-H7HiRdGmbNlW8uuV9g Subscribe for Email Updates: https://greenspringadvisors.com/the-decision-dividend/ Meet with Pat & Marcus: https://outlook.office365.com/book/MarcusCalendaratGreenspringAdvisors@Greenspringos33.onmicrosoft.com Information contained herein has been obtained from sources considered reliable, but its accuracy and completeness are not guaranteed. It is not intended as the primary basis for financial planning or investment decisions and should not be construed as advice meeting the particular investment needs of any investor. This material has been prepared for information purposes only and is not a solicitation or an offer to buy any security or instrument or to participate in any trading strategy. Past performance is no guarantee of future results.

    Is Direct Indexing Worth the Complexity with Brant Cavagnaro

  8. Jul 21

    Don’t Let Taxes Choose Your Retirement State

    Retirement is a natural time to rethink where you live. But moving states is not just a tax decision. In Episode 38 of The Decision Dividend, Pat and Marcus discuss how to evaluate a retirement move by starting with quality of life, then running the numbers. The goal is not to ignore taxes, but to understand them in the context of your actual retirement income, residency, housing, insurance, and relationships. You’ll learn: Why retirement tax rates can look different from your working years How even modest tax savings can compound, and where timing creates planning opportunities Why lower taxes can be offset by other costs, and why the best moves strengthen relationships Chapters 00:00 Don’t Let Taxes Choose Your Retirement State 02:13 Relationships Before Tax Rates (1) 05:46 Why Retirees Move States (2) 08:14 Cost of Living vs. Tax Rates 11:38 Retirement Income Tax Differences (3, 4) 14:27 Residency and Second Homes 18:27 Survivor Tax Penalty and Estate Taxes 23:04 Timing the Move and Planning Opportunities 31:35 The Costs That Offset Tax Savings 35:32 Quality of Life First, Money Second Sources Harvard Study of Adult Development, “Grant and Glueck Study.” https://www.adultdevelopmentstudy.org/grantandglueckstudy SmartAsset, “Where Retirees Are Moving - 2025 Study.” https://smartasset.com/data-studies/where-retirees-move-2025 Fidelity, “The Best States to Retire for Taxes.” https://www.fidelity.com/learning-center/personal-finance/best-states-to-retire-for-taxes Fidelity, “Is Social Security Income Taxed?” https://www.fidelity.com/learning-center/personal-finance/is-social-security-taxed Related episodes The Goal of Tax Planning is to Minimize Lifetime Taxes https://www.youtube.com/watch?v=4yqL1F5lCCI Where Should Your Extra Savings Go? | The Decision Dividend #33 https://www.youtube.com/watch?v=MeusOx0uNEU Should You Sell or Borrow from Your Portfolio? | Return on Reason #30 https://www.youtube.com/watch?v=FlhdhEhDx1I Follow and subscribe Follow on Apple Podcasts: https://podcasts.apple.com/us/podcast/greenstream/id1795467982 Follow on Spotify: https://open.spotify.com/show/26NYX6WD7godcJAYVE0Yk8?si=Qxj-H7HiRdGmbNlW8uuV9g Subscribe for Email Updates: https://greenspringadvisors.com/greenstream-podcast Meet with Pat & Marcus: https://outlook.office365.com/book/MarcusCalendaratGreenspringAdvisors@Greenspringos33.onmicrosoft.com Disclaimer Information contained herein has been obtained from sources considered reliable, but its accuracy and completeness are not guaranteed. It is not intended as the primary basis for financial planning or investment decisions and should not be construed as advice meeting the particular investment needs of any investor. This material has been prepared for information purposes only and is not a solicitation or an offer to buy any security or instrument or to participate in any trading strategy. Past performance is no guarantee of future results. While no single study can determine what is most important for every individual, this research illustrates that non-financial considerations can play an important role when evaluating retirement decisions.   * CFP Board owns the marks CFP®, CERTIFIED FINANCIAL PLANNER®, and CFP® (with plaque design) in the U.S.

    Don’t Let Taxes Choose Your Retirement State
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5
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About

A podcast specifically focused on helping every person live their ideal life by helping them make better decisions around their finances, relationships, and life.

Information

  • Creator
    Greenspring Advisors
  • Years Active
    2025 - 2026
  • Episodes
    45
  • Rating
    Clean
  • Copyright
    © Copyright 2026 All rights reserved.
  • Show Website
    The Decision Dividend

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