Episode 350

  • Legacy discussion

    • some people don’t want to leave a numerical legacy

    • legacy planning is a huge part of an overall financial plan

  • Having a financial advisor, and planning for taking steps for leaving money to family or kids takes strategy

  • Estate planning, wills and trusts

    • what is the best? what does each require?

  • Designation of beneficiaries, name changes, update in family dynamics has to be discussed

  • You must fund the trust when you go to your attorney and start one!

    • document that is an entity that owns assets

    • in order for everything to be owned there has to be a title

    • getting things into your trust, first you must change the title on assets

  • Talk to your attorney further about this topic

  • What happens if you pass and you haven’t funded the trust?

    • legal process called probate

      • figures out who owns your stuff

      • setting this up ahead of time will helpers probate and eliminate that

      • things will be contested

May 9, 2019

Episode 349

  • Stock market is the greatest tool ever created to bring buyers and sellers together!

  • Why you should invest like warren buffet

  • The media makes investors believe they are invested in the “market”

    • you’re on invested in the market you’re invested in businesses

  • Risk is not knowing what you’re invested in!!!!

  • Business owners send to say the market is risky, and they would rather put money into their own business because then they would know where the money went

  • Yield, net return, instead of focusing on income

  • Focus so much on volatility!

  • Socialism vs capitalism

May 7, 2019

Episode 348

  • RMDs

    • consequences: there are taxes built in, you must pay a certain amount of tax

      • when you’re younger, you look at your tax bracket every year

      • how much money is your current income from the top of the bracket?

      • take that difference and put it in a Roth IRA (tax free on distribution and never subject to RMDs)

  • Talking about beneficiaries of investment accounts

    • distribution; what happens?

  • Strategies with inheritance that is important for clients to know

  • If you inherit an IRA… stop and call an advisor right away!

    • distributions can’t be undone

  • HOW do you save your money?

    • variables and strategies of saving

    • maximize turns and minimize risks

  • Discussing spousal rollovers

  • So much value in having an advisor who knows how to help you navigate these things

  • RMDs are significantly under discussed

  • What is a bene IRA?

    • how important is it?

  • If you’re 70.5 and you haven’t done anything about your RMDs you are stuck with a certain taxable amount

May 2, 2019

Episode 347

  • We don’t believe in comparing against indexes, and we believe in continually investing in great businesses

  • Last year or two many people have gone to cash

    • when do you “get back into the market”

    • DONE think that way!

  • Theres always a bull market somewhere! - Jim Cramer

  • Asset allocate and diversify so volatility is an opportunity!

  • Invest like a business owner

  • The industry tells you that volatility is bad and it causes you to lose money 

  1. Portfolio holdings

    Greatest risks in portfolio? how do you view holdings in your portfolio?

  2. Price Swings

    How do investors view the ups and downs of prices of things in their portfolio?

    Mutual funds can be extremely opaque

  3. Predictions

    How to investors view and predict predictions of the future

  4. Performance

May 1, 2019

Episode 346

  • People spend more time analyzing why they should pay an advisor

  • Look at what they’re losing and not what they’re gaining

  • MP story about the conversation with referral:

    • pulled his money out of the market

    • “didn’t know if he could justify paying for a financial advisor”

      • believes he: doesn’t have to do much since he doesn’t have an elaborate plan

      • An advisor will help you keep on track to your goals

      • 7 figure portfolio, and believes if he would have had an advisor he wouldn’t have pulled his money out

  • Indexes:

    • more important knowing the risks taken in your portfolio than comparing it to an index

  • Google announced earnings for the quarter

    • because of the size of google, it has a missive impact on the S&P

  • Chuck talks about the 4 Ps

  • Discussion on Risk with Chuck

    • fear and fear of missing out drive investors decisions

  • Never seen a portfolio go through the investment stress test and be appropriately allocated

April 30, 2019

Episode 345

Financial Advisor Thursdays: Social Security 

  • What age should I use social security in my financial plan, pre tax dollars or after tax?

  • Headlines saying social security will be no more, but also that they are doing great

  • Long term there is not enough money to pay for everyone in the social security system

  • TIME is the most important tool

  • iI you’re in your 20s/30s you should not count on social security at all. you should save MORE

    • if it ends up being around you can retire early

    • if not, you saved enough

  • Compounding interest on returns becomes important

  • Taxes and social security?

    • if you’re getting social security how does that impact taxes

    • individuals about to retire or are retiring

    • social security is taxable (up to 80%)

  • Pension on social security, RMD’s, etc all effect maximizing your assets

  • Putting your 401k into a roth 401k?

    • Roth grows tax deferred. comes out income tax free

    • helps when you retire and managing taxes

    • younger crowd can benefit 

April 25, 2019

Episode 344

April 24, 2019

Episode 343

The investor will have clarity based on how they view….

  • Portfolio holdings

  • How do investors view Price swings in the investment they own

  • How do investors view Predictions 

  • How do you view Performance, and compare in your portfolio 

In regards to the above:how does an investor view the four P’s?

1. Owner or renter

2. Opportunity or risk

3. Onerous or reliable

4. Own terms or rely on benchmarks

  • comparing portfolios is a diservice to yourself

FOMO

  • Fear of missing out

  • When there is a decrease in the market there is an increase in fear

  • People are selling their actively managed mutual funds and investing them into bond funds

  • One of the primary drivers of assets leaving the marketplace

LEI

Leading Economic Index

  • 10 pieces of data that have within the data a forecasting component that is “statistically consistent” with the rise and fall of the economy

    • “very reliable”

  • It is rarely talked about by the media

  • Last week the LEI was up

April 23, 2019

Episode 342

April 18, 2019

Episode 341

April 17, 2019

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Episode 340

April 16, 2019

Episode 339

April 10, 2019

Episode 338

  • In 2019 we have been very bullish for price appreciation of great businesses

  • 2019 should be a very big year

  • If your portfolio is properly asset allocated, then you should look forward to pull backs and recessions

    • corrections where you can rebalance and take advantage of buying things on sale

  • You must have volatility to propel your portfolio forward

    • its not risk if your portfolio is allocated in regards to your risk tolerance

  • Short term is tactical, long term is strategic

    • you must plan for both!

  • Make sure you reset your portfolio to the percentage that you should be invested into based on your plan

Every Thursday will be a financial planning focused radio show

  • Star Tribune article: portfolio/investing section

    • robo investing

    • “robo advisors are your friend”

    • Headline: not to be confused with financial planners but between picks, a computer could be your best pick

    • robos pick based on mathematical rules or algorithms

April 9, 2019

Episode 337

April 4, 2019

Episode 336

  • Not a factive vs passive investing

    • the industry is moving to a more simplistic approach for financial planning

    • planning is more strategic than that!

      • assessing options and having someone guide you in the unexpected can not be replaced

  • Passive investing: less buying and selling, leading investors to buy into mutual funds and ETFs

    • still the bigger market 

  • active & passive all in the same portfolio?

  • active investing: takes hands-on approach where someone steps in as a portfolio manager

    • takes advantage of short term price fluctuations

    • oversees a group that looks over quantitive and qualitative

  • successful investing is investing over time in companies regardless of entry price

    • if you believe in long term fundamentals and the current valuation is accurate thats all that matters

  • The key to successful investing is statistical probabilities

    • what is the probability you are right or wrong? and what is the impact to the overall portfolio

Headline: 

  • 3 ways to not make mistakes in investing and being a business owner

  • discussing the new Nepsis blog

April 3, 2019

Episode 335

  • Not a fan of giving blanket advice one radio because everyones life and situation is different!

  • whats right for one person isn’t necessarily best for another person and so on

  • Focused on talking more conceptually and educating on how to give perspective to help your decision making process when it comes to investing

    Two main questions:

    Are your investments doing the best they can and are you on track to reach your goals

    • the rate of return one gets in their portfolio is relative

    • the number is a result of a process

    • do not compare end results when you have no idea how they were achieved

      • its only important if you sell your end results!

    • Do you know what the greatest risk in your portfolio is?

    • do you know your largest holding and how it affects your plan?? not mutual fund or ETF… HOLDING

April 2, 2019

Episode 334

  • Head of research Chuck Etzweiler joins on the show

  • the underlying fundamentals and technicals of a business can tell you when to invest or sell

    • strategic cost averaging

  • there is strategy in deciding wether or not to invest in a business or not

  • buy and sell disciplines are extremely important as well as how you will execute your asset allocation strategy

  • going over headline vs the bottom line

  • traditional money management: using a cookie cutter process of allocation

    • based on investors risk tolerance and objectives

    • growth of mutual funds and ETFs have had a negative impact on investors

  • “why do i not own more bonds?” “why do i have so much money in cash”

    • cash is an asset, and part of an asset allocated portfolio 

    • paid to know when to OWN cash

  • the most important thing is not where it is asset allocated or how, it is more about the volatility of the portfolio (beta) during good times and bad times is conducive to your objectives and risk tolerance!

  • discussing the changed the rules on the inverted yield curve

March 28, 2019

Episode 333

  • Four Keys to Investing

  • Dalbar study: “nations leading investor study”

    • Investors sold some of their businesses

    • leaving them poorly positioned for the second half of the year

    • average investor was a net withdrawaler, but poor timing is what affected them most

    • the investors sold a bunch of their money in the past quarter

    • if they didn’t buy back in, they sold and missed out on the up swing!

  • short term thinking and comparing rates of return are never good for long term investments

  • investing is a combo of art and science 

  • people get emotional listening to headlines instead of bottom lines!

    • data given doesn’t have enough details of the facts and what numbers mean! what was the correction? why did it happen?

  • During this time Nepsis bought more in businesses for its clients and lowered cost basis

  • financial advisors are wealth managers, not portfolio managers

  • figure out your process, and understand it!

March 27, 2019

Episode 332

March 26, 2019

Episode 331

  • What steps do you need to take?

  • Sometimes people don’t trust the plan and they work outside of it

  • How do your goals coincide with your plan?

  • Historic goals mean nothing, fees don’t mean anything, if you don’t have a clear correlation between your plans and your goal

  • Decision making process of the investor and the advisor or money manager

    • Envisioning themselves on a road to successful investing

  • Are my investments doing the best they can and am I on track to reach my goals?

March 21, 2019