120 episodes
Ditch the Suits - Your Money, Your Life NQR Media
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- Business
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4.7 • 42 Ratings
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**Named Best Podcast of the Year by Quill 2023 Podcast Awards**New Episodes are released weekly on Tuesdays! Welcome to Ditch the Suits (DTS), produced by NQR Media, where reformed planners get real about the stuff no one in the financial world wants you to know about. It's time you start getting the most from your money and life. And we can help! Listen to learn about a wide range of topics covering financial planning, planning for retirement, investing and tax planning, current economic news, and much more. If you are interested in learning from successful business owners about how to build your retirement and better manage your family’s wealth while protecting it from financial exploitation and so-called "financial advisors," stick around and join co-hosts Steve Campbell and Travis Maus for this unapologetic and thought-provoking no-holds-barred banter. Connect with us! Please email us at ditchthesuits@gmail.com with any thoughts, questions, or feedback.
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Risk Series: Trying to Avoid Risk In Retirement Creates More Risk
Want to get in touch? Send us a text!Are you unknowingly increasing your financial risk in retirement by trying to avoid it? Today's episode will transform your understanding of financial safety and risk management in retirement. We'll unravel the paradox of relying solely on fixed-income investments and explore the nuanced risks, such as interest rate and inflation risk, that might be lurking beneath the surface.Throughout this discussion, we'll share real-life stories and examples to showca...
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Risk Series: Navigating Risk in Retirement Planning
Want to get in touch? Send us a text!What if your retirement strategy is setting you up for financial instability? Discover why leaning too heavily on fixed-income sources like pensions and Social Security may be a costly mistake. In this episode, we discuss the pitfalls of being overly conservative with your retirement investments and the crucial need to balance risk for long-term financial success.Ever wondered what the real risks are in your investments as you approach retirement? We break...
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Financial Myth: Financial Advisors Making Commissions Can Provide Impartial Advice
Want to get in touch? Send us a text!In this episode, we discuss the myth that financial advisors who make commissions can provide impartial advice. We define impartial advice as someone who is not directly involved in a particular situation and is able to give a fair opinion or decision about it. Travis shares his experience in the industry and explains the various incentivized compensation structures that financial professionals receive, such as upfront commissions, new asset bonu...
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Financial Myth: Everyone Should Invest in Roths
Want to get in touch? Send us a text!In this episode, we discuss the myth that Roth IRAs are right for everyone. We explain what a Roth is and how it differs from a traditional IRA. We also discuss the different ways to access a Roth, including Roth 401(k)s, backdoor Roths, and Roth conversions. Our conversation emphasizes the importance of understanding tax brackets and how they can impact the decision to contribute to a Roth. Lastly, we highlight the benefits of Roth IRAs for reti...
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Financial Myth: You Need Three to Six Months of Emergency Funds Saved
Want to get in touch? Send us a text!In this episode, we discuss the myth that everyone should have three to six months' worth of expenses in their emergency fund. We argue that this advice is overly generic and fails to consider individual circumstances and lifestyles. We emphasize the importance of understanding your expenses and income over a prolonged period of time and tailoring the emergency fund accordingly. We also explore different tools and strategies for accessing cash in...
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2024 Elections: Are Politicians Making You Gamble With Your Future?
Want to get in touch? Send us a text!In this episode, Steve and Travis discuss the misconception that investing in the stock market is like gambling. They emphasize the importance of understanding the difference between price and value, and how short-term price fluctuations should not dictate investment decisions. They also highlight the long-term growth of the S&P 500 and the potential for significant returns over time. The conversation concludes with a reminder to filter out the noise a...
Customer Reviews
Honest and direct advice
The 3-part series on financial advisors was excellent. The discussion on what it means to be a fiduciary, how an advisor gets paid and why it matters, and what to expect when working with an advisor was so informative. Great education!
Mindless babble and do your research
One of the guest with her experience in higher education was an administrative assistant at Stevenson. Not sure what curriculum is written in “15-20” years of higher ed as an adminstrative assistant but seems dishonest. The rest of the podcast felt like mindless babble with absolutely zero substance.
Rambling and I knowledgeable
I found these guys online and was considering hiring them but listened to the podcast first. Holy cow did I do a 180. I gave it 4 episodes and found these guys to ramble without saying much of anything. I literally listened to 7 minutes of a metaphor about funnel cake at the state fair that went nowhere. But I lost it when I listened to the 4% withdrawal rate episode. Not only do these guys not have a clue how the 4% rule works, they spend the episode talking about how there’s a bunch of “financial planners” out there that just hear “4%” and blindly apply it without understanding it. THESE GUYS DONT UNDERSTAND IT! It’s not “withdraw 4% every year” it’s “withdraw 4% the first year, and then adjust that $ amount for inflation yearly”. It’s a deliberately low percentage based on historical sequence of return risk factored in, and these yahoos pat themselves on the back for poking holes in the theory because “you have to think about sequence of return”. They then go on to rail Bengen because he’s adjusted the 4% upwards in recent years, as his original work was based on just stocks and bonds and now uses a more diversified portfolio with small caps etc, but these guys simply say “he’s not even consistent!” The fact that people trust them with their retirements when they can’t read a simple article about a topic and educate themselves before basing several podcast episodes on it is frankly terrifying. Don’t waste your time on the rambling episodes but more importantly don’t expose yourself to bad information here.
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