16 episodes

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.

Thoughts On Money [TOM] Trevor Cummings

    • Investing

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.

    Episode 15 - Clarity on Charity

    Episode 15 - Clarity on Charity

    Topics discussed:
    As we closed out 2019, I fielded a lot of questions about Donor Advised Funds (DAFs). For some, this inquiry was sparked by an interest in the tax benefits for 2019 planning and for others, it came from a place of curiosity whether a DAF would be suitable for their situation. I know we’ve touched on Donor Advised Funds before here at TOM but based on all the inquiries, it would appear to be worthwhile to conduct a refresher.

    Giving has its own rewards. This week, TOM helps you increase those benefits as you pay it forward. Join me as we discuss one of my favorite tools in personal finance.

    Links mentioned in this episode:

    http://thoughtsonmoney.com
    http://thebahnsengroup.com

    Episode 14 - Funding Education Doesn't Have to Break The Bank

    Episode 14 - Funding Education Doesn't Have to Break The Bank

    Topics discussed:
    As we enter into 2020, we know one thing to be true – politics are going to be a hot topic. Each week the news is going to headline different candidates, we will get a break down of each of their platforms, and there is going to be much uncertainty around who will win the election.

    One of these topics that are going to get a lot of air time is student debt. Currently, the U.S. Department of Education has lent to about 43 million borrowers, and there is about $1.4 trillion of outstanding debt These are big numbers! Find out how to plan for success in funding education.

    Links mentioned in this episode:

    http://thoughtsonmoney.com
    http://thebahnsengroup.com

    • 13 min
    Episode 13 - Lessons Learned - A Tale of Two Decades

    Episode 13 - Lessons Learned - A Tale of Two Decades

    Topics discussed:
    As we approach the end of the year, I brace myself for the many retrospective look-backs on 2019 from my favorite media sources. And being that this year also marks the end of a decade, it will naturally invite even more reflection of how the past may inform our future.

    In the world of investing, the former decade (2000-2009) has now been appropriately deemed, “The Lost Decade.” A ten-year period that was bookended by two significant market events – The Dot Com Crash and The Great Recession.

    And this leads me to wonder, what central theme will we assign to the 2010’s?

    Links mentioned in this episode:

    http://example.com
    http://second-example.com

    • 12 min
    Episode 12 - Appreciating Income is the Thing To Do

    Episode 12 - Appreciating Income is the Thing To Do

    Topics discussed:
    The end of the year is a season when I conduct a lot of review meetings with clients. Along with discussing holiday plans, sharing updates on our families, and so on, it’s the perfect opportunity to do some year-end tax planning, review how investments have fared over the year, and to catch up on any other planning items we are working on. It’s also a great opportunity to itemize our goals and notate tasks that we’d like to get completed in the coming year.

    While these client meetings are never exactly the same, some themes come up time and time again like that of the math behind “total return.” I’ve found myself writing this equation down with a sharpie in numerous client conversations: Total Return = Appreciation + Income.

    I know, it’s simple. It almost seems silly to mention, but there is so much behind this simple equation that I think it’s worth discussing. I’ll use the example of three areas most people are familiar with as it relates to their assets and the value they derive from each of them – Real Estate, Stocks, and Bonds.

    Links mentioned in this episode:

    http://example.com
    http://second-example.com

    • 18 min
    Episode 11 - It's Okay to Budge on your Budget

    Episode 11 - It's Okay to Budge on your Budget

    Topics discussed:
    As we approach the New Year many of us will begin to think about the resolutions that we want to make for 2020. We know from experience that these resolutions are often short-lived, and we realize that making a commitment to something like a new diet may not be realistic or sustainable.

    Amongst these common resolutions are often financial goals like saving more or sticking to a budget. Today on TOM I want to talk about some practical ways that you can achieve these resolutions without putting too much strain on yourself.

    Links mentioned in this episode:

    http://example.com
    http://second-example.com

    • 13 min
    Episode 10 - 'Tis The Season To Be Tax Planning

    Episode 10 - 'Tis The Season To Be Tax Planning

    I absolutely cannot believe that we are already preparing for Thanksgiving. It feels like 2019 flew by, right? Well, I know from experience, that these last 6-weeks of the year seem to fly by at hyper-speed as well. This is indeed a great time of the year to spend time with family, rest, and reflect on the year. It’s also a great time to do some end of year tax planning.

    I know, I know, tax planning is not so festive, and it isn’t as fun as a turkey dinner, but the holiday season is our final opportunity to help reduce our 2019 tax bill. Who doesn’t like to pay less in taxes, right? So, with that spirit in mind, today’s TOM will be dedicated to a quick list of three potential strategies to employ before the end of the year.

    Links mentioned in this episode:

    https://thoughtsonmoney.com
    http://thebahnsengroup.com

    • 13 min

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