Thoughts On Money [TOM]

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Trevor Cummings
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Investing Business Education
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495 - 825 listeners Neutral 5.0 rating 33 reviews 222 episodes USA
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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.

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Recent Hosts, Guests & Topics

Here's a quick summary of the last 5 episodes on Thoughts On Money [TOM].

Hosts

Trevor Cummings Blaine Carver

Previous Guests

Blaine Carver
Blaine Carver is a financial expert specializing in investor psychology and financial planning. With a background in economics and years of experience in the financial services industry, Blaine has helped numerous clients navigate the complexities of financial decision-making. He is known for his insights into behavioral finance and the importance of understanding the psychological factors that influence investment choices.

Topics Discussed

market volatility strategies empathy encouragement truth high-frequency trading headline-induced anxiety advisor-client relationship resilience decision-making financial planning retirement go-go years slow-go years no-go years spending patterns asset allocation social security strategies tax optimization personalized planning simplicity Occam's Razor market timing dividend growth investing investment strategy perseverance complexity practical application personal finance theoretical finance windfalls inheritance Parable of the Prodigal Son financial education gifting strategies estate planning Investor Psychology Financial Planning Asset Growth Expenses Withdrawal Rates Expense-Based Planning Traditional Financial Advice Safety Nets Diversified Portfolio Sustainable Growth

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Episodes

Here's the recent few episodes on Thoughts On Money [TOM].

0:00 26:57

Surviving These Markets

Hosts
Trevor Cummings
Guests
Blaine Carver
Keywords
market volatility strategies empathy encouragement truth high-frequency trading headline-induced anxiety advisor-client relationship resilience decision-making

This week's blogpost - https://bahnsen.co/4jqFLrZ

Thriving Amid Market Volatility: Insights and Strategies

In this episode of the Thoughts and Money Podcast (Tom), host Trevor Cummings and guest Blaine Carver discuss strategies for navigating challenging market conditions. They reflect on the importance of empathy, encouragement, and truth in guiding clients through market downturns. Trevor recounts his recent trip to Dallas amidst stormy weather and both delve into the impacts of high-frequency trading and headline-induced anxiety. They emphasize the significance of staying invested despite fluctuations and stress the necessity of maintaining a strong advisor-client relationship to foster resilience and informed decision-making during volatile times. The episode concludes with advice on reaching out to advisors for support and open communication.

00:00 Welcome to the Thoughts and Money Podcast

00:17 Travel Tales and Lightning Adventures

01:20 Surviving These Markets: An Overview

04:45 Empathy: The First Tool in Your Toolkit

11:03 Encouragement: The Power of Positive Reinforcement

14:04 Truth: The Hard Facts About Market Timing

22:31 Final Thoughts and Encouragement to Connect

Links mentioned in this episode:

0:00 31:23

Go-Go, Slow-Go, and No-Go Years

Hosts
Trevor Cummings
Guests
Blaine Carver
Keywords
financial planning retirement go-go years slow-go years no-go years spending patterns asset allocation social security strategies tax optimization personalized planning

This week's blogpost - https://bahnsen.co/4lCcyvy

The Stages of Retirement: Strategies for Go-Go, Slow-Go, and No-Go Years

In this episode of the Thoughts on Money Podcast, host Trevor Cummings and guest Blaine Carver discuss financial planning for retirement, breaking it down into the 'go-go,' 'slow-go,' and 'no-go' years. They explore how spending patterns and needs change throughout each phase and stress the importance of flexibility in financial planning. Topics covered include the spending smile, asset allocation, social security strategies, and the significance of tax optimization. The episode emphasizes personalized planning and the relevance of continual reassessment to adapt to evolving needs and circumstances.

00:00 Welcome to the Thoughts on Money Podcast

00:14 Blaine's Hiking Adventures and Retirement Phases

02:42 The Go-Go, Slow-Go, and No-Go Years of Retirement

03:49 Financial Planning: Beyond the Paperweight Plans

07:36 The Spending Smile and Its Implications

13:01 Tax Strategies and Portfolio Withdrawals

16:22 Diversifying Retirement Accounts

17:19 Understanding the Logo Years

18:42 Long-Term Care and Charitable Planning

20:22 Navigating the No-Go Years

23:03 Simplifying Estate Planning

26:46 Final Thoughts and Listener Engagement

Links mentioned in this episode:

0:00 29:03

For Simplicity’s Sake

Hosts
Trevor Cummings Blaine Carver
Keywords
simplicity financial planning Occam's Razor market timing dividend growth investing investment strategy perseverance complexity

This week's blogpost - https://bahnsen.co/4l9W0e1

The Power of Simplicity in Financial Planning

In this episode of the Thoughts on Money Podcast, hosts Trevor Cummings and Blaine Carver discuss the principle of keeping financial strategies simple, centered around the concept of Occam's Razor. They contrast this with the overly complex methods similar to Rube Goldberg's inventions and stress the importance of embracing simplicity in investing. Key areas covered include the problems with market timing, the benefits of dividend growth investing, the importance of understanding one's investment strategy, and the necessity of perseverance in the markets. The hosts further emphasize avoiding unnecessary complexity and limiting mistakes to achieve long-term financial success. 00:00 Welcome to the Thoughts on Money Podcast

00:37 Occam's Razor and Financial Planning

02:17 Rube Goldberg vs. Occam's Razor in Investing

04:07 The Pitfalls of Market Timing

05:55 The Frogger Approach to Investing

09:06 Embracing Risk Like Happy Gilmore

12:19 Limiting Mistakes in Investing

19:59 The Superpower of Perseverance

23:30 Keep It Simple, Stupid (KISS)

26:42 Closing Thoughts and Listener Engagement

Links mentioned in this episode:

0:00 33:55

The Prodigal Son

Hosts
Trevor Cummings Blaine Carver
Keywords
practical application personal finance theoretical finance windfalls inheritance Parable of the Prodigal Son financial education gifting strategies estate planning

This week's blogpost - https://bahnsen.co/4hTqXjQ

Practical Financial Advice: Preparing Your Heirs for Wealth

In this episode of the Thoughts on Money Podcast, hosts Trevor Cummings and Blaine Carver discuss the importance of practical application in personal finance. They emphasize the difference between theoretical finance and practical advice, particularly when it comes to managing windfalls and preparing heirs for inheritance. Using examples like the Parable of the Prodigal Son and real-life cases of lottery winners and athletes, Trevor and Blaine highlight the dangers of unmanaged windfalls. They delve into practical strategies for gifting and educating heirs, including annual gifts, direct payments for education and medical expenses, and the importance of financial education and experience. They also stress the need for clear communication and setting expectations when passing on wealth.

00:00 Introduction and Greetings

00:24 The Importance of Practical Application in Finance

02:03 The Parable of the Prodigal Son and Financial Wisdom

04:21 Windfalls and Financial Preparedness

05:59 Practical Advice for Preparing Heirs

08:12 Lessons from Personal Financial Mistakes

13:41 Gifting and Estate Planning Strategies

16:06 Shaq's Wealth Advice and Giving Now

16:39 The Power of Financial Education

17:23 Direct Giving Strategies

20:06 Introducing Kids to Financial Advisors

24:05 Setting Expectations for Financial Gifts

26:28 Trevor's Personal Story and Final Thoughts

Links mentioned in this episode:

0:00 26:35

Mind the Gap

Hosts
Trevor Cummings
Guests
Blaine Carver
Keywords
Investor Psychology Financial Planning Asset Growth Expenses Withdrawal Rates Expense-Based Planning Traditional Financial Advice Safety Nets Diversified Portfolio Sustainable Growth

This week's blogpost - https://bahnsen.co/41LZ33h

Mind the Gap: Navigating Investor Psychology and Financial Planning

In this episode of the 'Thoughts of Money' podcast, host Trevor Cummings is joined by Blaine Carver to discuss the concept of 'Mind the Gap' in financial planning. They explore how understanding the gap between asset growth and expenses is crucial for long-term financial health. The conversation covers the importance of withdrawal rates, the limitations of traditional financial advice, and the benefits of expense-based planning. The hosts also emphasize the need for safety nets and a well-diversified portfolio to mitigate risks and ensure sustainable growth over time.

00:00 Introduction and Host Banter

00:58 Mind the Gap: Understanding Investor Psychology

05:05 The Importance of Withdrawal Rates

11:23 Expense-Based Planning vs. Traditional Financial Planning

22:52 Behavioral Risks in Retirement Planning

24:27 Conclusion and Listener Engagement

Links mentioned in this episode:

Ratings

Global:
5.0 rating 33 reviews

USA

5.0 ratings 32 reviews

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