Talking Real Money - Investing Talk

Don McDonald
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Financial talk radio veteran, Don McDonald and former host of Serious Money on PBS, Tom C**k, join forces to talk about real money issues. In each episode, they solve real money problems, dole out real investing (not speculating) advice, and really explain the financial issues that effect all of us. Plus, it's actually fun! Talking Real Money is a podcast designed to provide the real help we all need to enjoy a really great future. Call in with your questions anytime at 855-935-TALK (8255).

  1. The Right Withdrawal Rate?

    21 小時前

    The Right Withdrawal Rate?

    Tom and Don tackle one of retirement’s hardest questions: how much can you safely spend from your portfolio without blowing up the rest of your life? They walk through the familiar 4% rule, flexible withdrawal strategies, why a flat 10% withdrawal is usually fantasyland, and why the “right” spending rate depends heavily on your age, timeline, and tolerance for adjusting in bad markets. They also answer a listener question about a 22-year-old’s investment allocation and close with a timely discussion of the latest Social Security trust fund warning, what it actually means, and the only real ways Congress can fix it. 00:12 — How much can you safely spend in retirement? Tom and Don tee up the big question: 4% rule, 5% flexible rule, or something more personalized. 02:08 — Survey shocker: many people think they need 30 years of income saved before retiring comfortably. 03:03 — Longevity math: how long retirement might actually last, and why that matters for withdrawal rates. 04:40 — Can you really withdraw 10% a year? Tom and Don push back on overly aggressive retirement spending assumptions. 05:59 — Why generic withdrawal rules fall apart in real-life retirement planning. 06:25 — Every retiree needs a personalized withdrawal strategy based on their own timeline and circumstances. 07:17 — Retiring at 60 vs. 70: why earlier retirement makes even “safe” withdrawal rates riskier. 09:04 — Why it’s worth having a professional review your retirement withdrawal plan, even if you’ve used calculators. 09:58 — The case for flexible withdrawals: spending more in strong markets and less in weak ones. 10:20 — Three common retirement planning mistakes: not saving enough, not knowing your needed return, and taking the wrong amount of risk. 12:16 — Listener question: a 22-year-old with $28,500 invested wants to know if his allocation makes sense. 13:28 — Breaking down DFAW, VT, and VTI: overlap, diversification, and whether the portfolio is too complicated. 16:21 — The bigger story: a 22-year-old already has a terrific head start on retirement savings. 17:56 — Social Security update: the trust fund could run short in 2032 if nothing changes. 18:37 — The only real ways to fix Social Security: raise taxes, cut benefits, or some combination of both. 19:52 — Why scary Social Security headlines should not automatically push people to file early. 21:22 — One possible fix: raising or removing the payroll tax cap. 23:27 — The demographic problem under Social Security: too few workers supporting too many retirees. Questions? Comments? Click!

    28 分鐘
  2. Mom (Dad) and Money

    1 天前

    Mom (Dad) and Money

    As parents age, money can get more complicated—bill paying, account access, healthcare decisions, investment management, and eventually the possibility that someone else may need to step in. In this episode, Don and Tom walk through how families can start that conversation before a crisis hits. They cover when to begin talking, what adult children should know about accounts and spending, why durable powers of attorney need to be checked with custodians in advance, and the importance of reviewing wills, beneficiaries, and backup decision-makers. They also talk about the emotional side of these transitions, including independence, trust, and the danger of children projecting their own investing preferences—or financial self-interest—onto aging parents. Then they answer two listener questions: one about whether it’s time to fire an evasive advisor charging 1% plus expensive funds, and another about alternative career paths in financial planning beyond the traditional CFP route. 0:05 – Intro: the hard conversation families need to have about aging and money 1:00 – When parents—or you—reach the point where financial help may be needed 1:56 – Tom’s family experience and the challenge of stepping in gracefully 3:17 – Why families should talk early about money, spending, and where accounts are held 5:24 – Account access, passwords, and why digital organization matters more than ever 7:38 – Durable power of attorney: why you need one and why custodians should review it in advance 9:01 – Backups for everything: POAs, wills, beneficiaries, and successor decision-makers 10:02 – Why adult children should meet their parents’ financial advisor before a crisis 11:07 – When a trusted advisor can help if parents don’t want children directly involved 11:28 – How to approach the conversation as an adult child without expecting instant control 12:28 – Don’t project your own investing style onto your parents’ retirement portfolio 13:28 – The uncomfortable reality of greed and inheritance influencing family decisions 13:40 – Why this belongs at the top of the planning checklist for older families 14:07 – How to send your own questions to Talking Real Money 14:58 – Listener question: Is it time to fire a wealth manager who won’t answer basic questions? 17:15 – Don and Tom’s verdict on an advisor charging 1% while dodging accountability 18:48 – Listener question: Are there good financial-planning career paths besides becoming a CFP? 20:41 – The regulatory reality of giving investment advice for a fee 22:32 – Relationship roles, planning roles, and the growing specialization inside advisory firms Questions? Comments? Click!

    28 分鐘
  3. It's Very Volatile!

    2 天前

    It's Very Volatile!

    Don and Tom take on the latest crypto hype cycle, arguing that Bitcoin remains speculation—not a reliable store of wealth—and that putting crypto inside retirement accounts is especially dangerous. They discuss a new self-directed IRA crypto platform, the risks of private equity and alternative assets in retirement plans, and why “get rich quickly” pitches should set off alarm bells. Then they answer two listener questions. First, Mark from Ohio asks how to prepare a retirement portfolio for a likely market downturn and how withdrawals and rebalancing should work once retirement begins. Later, Doug from Utah asks whether market-linked CDs make sense compared with Treasuries and whether the “no downside” promise is worth the tradeoffs. Don and Tom explain why they dislike market-linked CDs, how bank brokers get paid to sell them, and why simpler fixed-income tools often make more sense. They wrap up with a warning about growing bank-related scam tactics and a publishing scam Don has been seeing aimed at authors. 0:05 – Intro: one-star Bitcoin review and why crypto losses are hard to ignore 1:16 – Bitcoin’s drop, crypto volatility, and retirement-account crypto pitches 2:42 – Self-directed IRAs, IRA Financial, and the “get rich quick” problem 5:27 – Why crypto, private equity, and alternative assets can be dangerous in retirement plans 6:58 – Why most people bought Bitcoin: speculation, not currency utility 10:29 – Hot money shifts: crypto, gold, semiconductors, and chasing momentum 12:20 – Don’s bottom line on crypto as speculation vs. wealth storage 13:16 – Listener question from Mark: preparing for a market downturn before retirement 15:32 – Is an 80/20-ish portfolio too aggressive with retirement four years away? 17:13 – Bonds vs. cash/CDs: what fixed income should do near retirement 18:56 – Withdrawal strategy during a downturn and how rebalancing fits in 20:46 – Listener question from Doug: market-linked CDs vs. Treasuries 23:47 – Why Don and Tom dislike market-linked CDs 26:42 – The danger of taking investment advice from a bank salesperson 29:18 – Building Treasury and CD ladders through a brokerage instead 31:23 – Banks training tellers to spot scam victims before money is lost 34:04 – Don’s author scam warning: fake book clubs and fake promotional offers Questions? Comments? Click!

    39 分鐘
  4. Clickbait Investing

    6 天前

    Clickbait Investing

    Don and Tom take apart a clickbait Kiplinger piece touting the “five top buy-and-hold investments to manage market volatility,” arguing that the list is a random grab-bag of recent winners rather than a coherent portfolio. They explain why the suggested mix—VOO, VXUS, a healthcare sector ETF, Apple stock, and gold—does little to reduce volatility and instead layers on concentration risk, sector bets, and performance chasing. From there, they broaden the discussion into a more useful question: where should investors actually go for trustworthy information, how should listeners think about evaluating a financial advisor, and what really matters when judging portfolio design. The back half of the episode features a thoughtful call about investing a spendthrift trust for two sons over a 12-year horizon, plus a warning that advisor performance can’t be measured by returns alone without understanding risk, asset allocation, and the planning services being delivered. 0:05 Cold open, podcast intros, and Tom’s ever-growing aircraft museum 1:40 Don tees up a Kiplinger clickbait article on the “five top buy-and-hold investments” for market volatility 2:14 Why the article’s opening about political uncertainty and inflation could apply to almost any year 3:36 The one part they agree with: long-term wealth is built by disciplined exposure to quality assets, not reacting to headlines 4:53 The rise of numbered clickbait headlines and whether numbers in titles actually matter 5:53 Why “stability” and “stock picks” don’t belong in the same sentence 6:27 Kiplinger pick #1: VOO — fine as a broad U.S. stock fund, but hardly a volatility solution 7:06 Kiplinger pick #2: VXUS — the one recommendation they think mostly holds up 8:21 Kiplinger pick #3: XLV healthcare ETF — a sector bet masquerading as a defensive holding 9:33 Why a healthcare sector fund lags a total-world approach while adding unnecessary concentration 10:28 Kiplinger pick #4: Apple stock — and why adding a single stock you already own inside the S&P 500 makes little sense 10:59 The problem with betting on one company instead of owning the economy through broad diversification 12:20 Kiplinger pick #5: gold — and why recent gains don’t make it a volatility manager 12:48 Gold’s long-term history, lack of fundamentals, and why its recent performance actually illustrates volatility rather than reducing it 14:12 The bigger issue: how do you decide which financial publications or sources are worth trusting? 15:26 Why Vanguard and Dimensional research tend to be more reliable than headline-driven finance content 16:35 The real reason people click these articles: fear, underperformance anxiety, and the urge to “improve” a portfolio 17:23 Why the Kiplinger portfolio is missing the one thing you’d expect in a true volatility-management portfolio: bonds 18:51 Don and Tom’s plea to listeners: follow evidence-based advice rather than clickbait lists 19:30 Listener call from Brian in Bremerton about investing spendthrift trusts for his sons over a 12-year horizon 20:55 The challenge: balancing growth with the possibility of distributions for education, cars, weddings, or a house 23:08 Don’s suggested framework: keep a cash/fixed-income reserve for near-term needs and invest the rest aggressively for growth 24:48 Why a target-date fund may not be the best fit for this kind of trust structure 25:37 A practical allocation idea: roughly 80/20 with a global equity fund plus a broad bond fund 26:51 Brian explains that Roth IRA funding is already part of the family’s gifting and estate strategy 27:32 A listener from Seoul praises the show and begs them not to turn into a “humblebrag retirement call-in show” 29:49 Listener question: how do you measure whether your financial advisor is performing well? 30:42 Why advisor performance should not be judged by returns alone 32:11 The importance of understanding what services you’re actually paying for: planning, rebalancing, tax guidance, income strategy, and more 33:11 What to examine in a portfolio besides returns: risk level, asset allocation, and whether key asset classes are missing 34:11 Why even benchmark comparisons can be misleading if the portfolio isn’t properly diversified 35:18 The better question: is your advisor delivering the services and portfolio design you actually need? Questions? Comments? Click!

    38 分鐘
  5. Another Money Quiz

    7月1日

    Another Money Quiz

    Can Tom beat the average American on a personal finance quiz? Don puts Tom in the hot seat with eight questions drawn from a financial literacy quiz developed by researchers at Stanford University and TIAA. The topics range from earning, budgeting, inflation, investing, debt, insurance, and risk to evaluating investment advice. Along the way, there’s plenty of good-natured ribbing, a debate over compounding, and a reminder that even financial professionals can stumble on carefully worded questions. Later, the guys answer listener questions about whether the small-cap value premium still exists despite the rise of private equity, and whether exotic portfolios like the “Golden Butterfly” really deserve their impressive back-tested reputations. Plus, Tom gives an enthusiastic endorsement of Don’s Civil War novel, The Line Uncrossed. 00:18 – Tom faces an eight-question financial literacy quiz 03:49 – Inflation versus savings: the trickiest question 05:53 – Why diversification beats owning a single stock 07:11 – The power—and danger—of compound interest 08:50 – Insurance coverage young adults actually need 09:52 – Expected value and lottery math 11:10 – Appropriate investments for different ages 12:40 – Why compounding may be the most important concept in investing 13:39 – Which asset classes have historically produced the highest returns? 16:03 – Does the small-cap value premium still exist? 23:01 – Should investors trust the Golden Butterfly portfolio? 26:45 – Tom’s review of The Line Uncrossed 29:17 – Free meetings with Appella advisors 31:11 – Blue shirts, blue eyes, and wrapping up Questions? Comments? Click!

    34 分鐘
  6. You Can't Beat 'Em

    6月30日

    You Can't Beat 'Em

    Don and Tom tackle the blurry line between free speech and market manipulation after the conviction of prominent short seller Andrew Left. They debate whether financial influencers should be allowed to profit from public stock recommendations, discuss why members of Congress continue trading individual stocks despite widespread public opposition, and explain why ordinary investors should avoid trying to outsmart people with superior information or influence. The conversation then shifts into listener questions covering Roth employer matches, Roth IRA withdrawal rules, Roth conversion strategies for retirees, and whether paying taxes now simply to benefit heirs makes financial sense. Along the way, there’s plenty of lighthearted banter about soccer, politics, podcast reviews, and Don’s growing passion for his Litreading short story podcast. 00:05 – Introduction and Independence Day reflections 01:27 – Andrew Left convicted of stock market manipulation 03:24 – Is market manipulation protected free speech? 06:56 – Why Don opposes congressional stock trading 09:18 – Congress made over 13,000 stock trades in 2025 12:29 – Why public officials should be held to a higher standard 14:12 – The lesson for ordinary investors: you can’t beat insiders 15:27 – Podcast reviews, politics, and avoiding crypto 17:12 – Florida’s proposed property tax amendment 18:22 – Transition to listener questions 19:38 – Employer Roth 401(k) matching contributions 20:10 – Can you withdraw Roth IRA money before age 59½? 21:49 – Should retirees convert large IRAs to Roth accounts? 24:52 – Soccer, World Cup talk, and the “laws” of the game 26:44 – Don promotes Litreading and Short Storyverses Questions? Comments? Click!

    31 分鐘
  7. Cash Can Be Trash

    6月29日

    Cash Can Be Trash

    Are you keeping too much money in cash because you’re waiting for the “right time” to invest? In this episode, Tom and Don explain why market timing has historically been one of the costliest investing mistakes—and why even the worstinvestment timing has dramatically outperformed sitting on the sidelines. They also answer listener questions about immediate annuities, I Bonds, portfolio allocation, sequence-of-returns risk, and why using whole life insurance as an investing strategy is a bad idea. 00:05 – Why so much money is sitting in cash 03:21 – Americans hold over $20 trillion in cash-like accounts 05:08 – The enormous cost of waiting to invest 07:27 – Morningstar’s “Mind the Gap” study and investor behavior 10:41 – Cash is trash (except when it isn’t) 11:41 – How to earn more on your bank savings 15:55 – Should immediate annuities count as bonds in your portfolio? 17:23 – I Bonds vs. TIPS and inflation protection 19:50 – Is 20% cash too much in retirement? 20:43 – Whole life insurance for sequence-of-returns risk? 22:28 – Why the advisor’s recommendation raises red flags 23:39 – The real way to manage sequence risk in retirement Questions? Comments? Click!

    30 分鐘
  8. Q&A Big Day

    6月26日

    Q&A Big Day

    This week’s Friday Q&A is packed with six listener questions covering some of the biggest financial decisions people face before and during retirement. Topics include whether actively managed bond funds are worth the extra cost, how the new senior tax deduction may affect Roth conversions, whether a 24-year-old should keep a whole life insurance policy, financial planning before marriage, the role of mid-cap funds, and whether it’s worth abandoning a target-date fund before retirement. If you’ve ever wondered whether you’re making your portfolio more complicated than it needs to be, this episode is for you. 00:00 Welcome and Fourth of July schedule update 02:21 Active vs. passive bond funds: Avantis, Dimensional, or BND? 05:00 Using the new senior deduction to reduce Roth conversion taxes 08:01 Does a 24-year-old need whole life insurance? 10:35 Money conversations every engaged couple should have 15:53 Are mid-cap funds worth owning? 17:52 Should you leave a target-date fund before retirement? 23:37 How to submit your own questions Questions? Comments? Click!

    25 分鐘
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主持人與來賓

4.5
（滿分 5 顆星）
811 則評分

簡介

Financial talk radio veteran, Don McDonald and former host of Serious Money on PBS, Tom C**k, join forces to talk about real money issues. In each episode, they solve real money problems, dole out real investing (not speculating) advice, and really explain the financial issues that effect all of us. Plus, it's actually fun! Talking Real Money is a podcast designed to provide the real help we all need to enjoy a really great future. Call in with your questions anytime at 855-935-TALK (8255).

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