Something More With Chris Boyd Show Podcasts

More Rules of Thumb – Chris Boyd and Jeff Perry go back to a recent conversation of common financial rules of thumb. They start off by defining the term “net worth”. Chris reflects on the book “The Millionaire Next Door” and Jeff mentions a financial calculation that compares one’s net worth against their income. Next the duo explains the Rule of 72 and how it is helpful when doing quick calculations of when an investment is expected to double. The often- discussed term of Financial Freedom is deliberated in the context of a formula of one’s annual expenses. Chris closes out the segment with an explanation of the 4% withdrawal rate for retirement assets with cautions of depending solely on rules of thumb. For more information or to reach Chris Boyd or Jeff Perry, click the below link: https://www.wealthenhancement.com/s/advisor-teams/amr

What if you don’t need your RMD? – Chris Boyd and Jeff Perry dig into the commonly asked question of what to do with Required Minimum Distributions (RMDs) when you don’t need the money, and would like to avoid the resulting income taxes. Chris and Jeff converse about how frequent it is for clients to reach an age when the IRS requires you to start withdrawing money from retirement accounts that you don’t need to tap into just yet. Chris and Jeff discuss various options of how to invest, spend, or give to a charitable cause. (See reference article at the link below). https://finance.yahoo.com/news/rmds-dont-money-yet-140430152.html For more information or to reach Chris Boyd or Jeff Perry, click the below link: https://www.wealthenhancement.com/s/advisor-teams/amr

0Picking up the Pieces – Brian Regan joins Chris Boyd and Jeff Perry for this episode to discuss Brian’s recently written article titled “Picking up the Pieces”. Brian starts off with his straightforward commentary of what he calls the “Cult of Private Investments”. The dialogue shifts to the debate of hiring a financial advisor compared to simply buying index funds. The trio next offers their thoughts on why high yield savings accounts are so popular and when it is prudent to use one. Brian next shares his thoughts on why Municipal Bonds are not that attractive in most circumstances. To conclude this segment Chris, Brian and Jeff dig into investment returns and how they are compared and should be compared against a benchmark. For more information or to reach Chris Boyd or Jeff Perry, click the below link: https://www.wealthenhancement.com/s/advisor-teams/amr

In the News – With no shortage of newsworthy topics to discuss, Chris Boyd and Jeff Perry review popular news stories of the week. On a lighter note, Chris and Jeff start off with expressions of appreciation for moving our clocks one hour ahead to Daylight Savings time. The duo shifts to the political topic of President Biden and former President Trump basically locking up their respective primaries. Chris and Jeff speculate what could happen to change this expected election rematch. The segment ends with a review of the week’s economic data, including the CPI, PPI, and unemployment numbers. For more information or to reach Chris Boyd or Jeff Perry, click the below link: https://www.wealthenhancement.com/s/advisor-teams/amr

Rules of Thumb – Chris Boyd and Jeff Perry dig into a variety of financial generalized rules of thumb when it comes to personal finance ratios. Chris starts off by questioning Jeff on his views about how much is too much regarding common family purchases such as home costs and automobile buying. Chris and Jeff debate the best way to approach student debt and student loans (they don’t exactly agree). Jeff asks questions to Chris about common rules when it comes to how much one should be saving for retirement. Jeff next asks Chris for his view of how risk exposure to stocks changes as an investor grows older.

In the News – Chris Boyd and Jeff Perry start of this segment with commentary about the current state of the news in America and the lack of unbiased sources of current events. The conversation shifts to the topic of the growing national debt. Jeff highlights a variety of data points from the US Debt Clock (see link below). Chris and Jeff reflect on recent statements by Jamie Dimon about the future negative economic impacts of the national debt. Chris and Jeff turn to Federal Reserve Chairman Jerome Powell’s statement and testimony to Congress this week and its impact on the markets. Chris and Jeff discuss the assorted topics of interest rates, economic data and the influences of elections and politics. https://usdebtclock.org/

Tax Guide Offer – Chris Boyd and Jeff Perry welcome listeners to an entertaining discussion announcing that the Something More Podcast is approaching its 1000 th episode. The pair share planning thoughts to celebrate the milestone. Chris and Jeff shift the discussion with an offer to listeners of a complimentary 2024 Income Tax Guidebook. Chris and Jeff summarize the topics in the guidebook, including tax brackets, exemptions, credits, records retention and more. The segment concludes with Chris telling a personal story of the excellent customer service he recently received from a local locksmith.

What Warren Buffet says – Chris Boyd and Jeff Perry dig into Warren Buffett’s most recent letter to shareholders where he outlines some of the things that have made Berkshire so successful at picking the best companies to invest in over longer time periods, including having a clarity of purpose when choosing a stock, only focusing on quality investments, favoring companies run by good managers, holding onto investments for the longer term, and practicing fiscal conservatism (see related Morningstar article below). https://www.morningstar.com/stocks/warren-buffett-charlie-munger-realistic-investment- expectations-stocks-he-wont-sell #smwcb #warrenbuffet #morningstar #weg #financialadvisor #shareholders #investments

Are Interest Rates high or does it just feel like it? – Over the last few years, the rate on the average 30-year fixed-rate home mortgage jumped from less than 3% to more than 7%. Chris Boyd and Jeff Perry discuss the history of interest rates and debate whether rates are currently high (see related Bottomline article below). This dialogue shifts to what level of investment returns investors should plan for in the short and long term. Chris offers detailed commentary on the challenges of market declines in the years following retirement. https://www.bottomlineinc.com/money/economy/what-the-history-of-interest-rates-can- tell-us-about-todays-rates#   #interestrates #smwcb #weg #mortgage #financialpodcast

Family Finances – Chris Boyd and Jeff Perry dig into the difficult topic of managing family finances. Chris starts off the segment with an introduction of the 50/15/5 rule (see link below) which suggests separating expenses into various categories to ensure you are not spending too much in any one area. After Chris and Jeff comment on each allocation category, the conversation shifts to how a married couple can get on the same financial page with positive conversations. Chris and Jeff reference the article from Kiplinger’s noted below. https://www.fidelity.com/viewpoints/personal-finance/spending-and-saving https://www.kiplinger.com/personal-finance/how-a-couple-can-get-on-the-same- financial-page   #familyfinances #smwcb #weg #kiplingers #fidelity    

Tax Talk – In the midst of the income tax filing season, Chris Boyd and Jeff Perry review a number of 2023 deductions and credits. Jeff brings up that the Internal Revenue Service (IRS) now allows taxpayers to establish an online account with the IRS. Chris and Jeff offer their thoughts on how long you are required to maintain tax records and supporting documentation. The conversation turns to tax planning for 2024. Chris offers a complimentary 2024 Tax Guide to listeners.   #smwcb #weg #taxtalk #financialpodcast

Brian Regan joins the show to review recent updates on Inflation and what investors should make of these reports.  Also discussed are Debt & Deficits.  With $34 Trillion in US Debt and perhaps as much as $2 Billion per day cost of the debt service, Brian shares thoughts on the ongoing challenges need practical solutions. 

With big earnings and stock movements from semiconductor makers, Brian Regan shared some insights into the industry, as well as how to invest smartly even if you weren’t in on the ground floor of some big market movers.  Chris also references American College of Financial Services survey reported on by Barron’s which answers the question, “Do Financial Advisors Really Improve Retirement Readiness?”  

Could a Government Shut Down be only days away?  Chris shares insights about the risks of a 3/1/24 deadline and what it should mean for investors if we do have a shut down.  Complicating negotiations are enormous deficits and growing debt.  Chris weighs in on declining global trade, the challenges of target date funds, and other items in this week’s news.

More Mail Bag Questions – Chris Boyd and Jeff Perry dig into more questions from podcast and radio listeners. In this episode Chris discusses how too many investors are chasing yield, which may actually be adding more risk than is perceived. Chris and Jeff share their thoughts regarding total return versus income. The segment concludes with a dialogue of the dangers and costs of buying and owning a timeshare.   #InvestmentYield #TotalReturnVsIncome #FinancialInsights #InvestmentTips #RiskManagement #TimeshareRisks       Chasing Investment Yield Total Return vs. Income Debate Timeshare Ownership Risks Understanding Investment Risks Avoiding High-Risk Investments Timeshare Costs and Dangers Financial Planning Advice Investment Strategy Mistakes

Survey of the five worst things that harm your retirement plan – Chris Boyd and Jeff Perry discuss a recent nationwide survey which asked workers and retirees about mistakes and major life events, and how it impacted their retirement. Chris and Jeff review the top five results and offer specific commentary on how to avoid making these mistakes and other ways to enhance your retirement financial plan. A copy of this article can be found at the link below: https://www.fool.com/retirement/2024/02/01/americans-label-these-5-things-as-their- worst-reti/   #RetirementPlanningMistakes #RetirementSurvey #FinancialPlanningTips #AvoidRetirementMistakes #RetirementSavings   Retirement Planning Mistakes Major Life Events Affecting Retirement Nationwide Retirement Survey Results Enhancing Retirement Financial Plans Avoiding Retirement Planning Mistakes Retirement Savings Tips Financial Planning for Retirees Workers and Retirement Survey Insights

Chris Boyd and Jeff Perry dig into questions from podcast and radio listeners. In this episode Jeff asks Chris about the merits of UITs/Defined Portfolios, Closed-End Funds, & other illiquid types of investments. Jeff also questions Chris about investment portfolios with an overly simplistic design, broad balanced funds, and portfolios with a concentration in a single fund family.   #InvestmentTrusts #DefinedPortfolios #ClosedEndFunds #IlliquidInvestments #InvestmentStrategies #BalancedFunds   Unit Investment Trusts (UITs) Defined Portfolio Investments Closed-End Fund Strategies Illiquid Investment Types Simplistic Investment Portfolios Broad Balanced Funds

Family Meetings – Chris Boyd and Jeff Perry welcome Robert Mauterstock of Plan4Life to discuss when and why family members should be included financial planning meetings. The trio discusses real-life situations where including family members in meetings with financial advisors makes the most sense. Bob offers advice on what types of information should be shared with your children and in what context. The importance of estate planning is also highlighted.   #FamilyFinancialPlanning #EstatePlanning #FinancialAdvisors #FamilyFinance #Plan4Life #FinancialTips #FinancialInsights #EstatePreparation #FinanceForFamilies     Family Financial Planning Estate Planning Advice Financial Advisors Meetings Involving Family in Finance

Valentine’s Day and healthy marital finances – With Valentine’s Day quickly approaching, Chris Boyd and Jeff Perry dig into why and how good financial communication between spouses/partners is essential to a happy long-lasting relationship.  Jeff shares how he and his wife Lisa have a monthly financial review meeting.  The conversation turns to a study discussed at the link noted below from the Bowling Green State University’s National Center for Family & Marriage noting that 31% of those 65 and over are remarried. The article goes on to discuss important things to consider when remarrying later in life, including the need for a pre-nuptial agreement, revised estate planning documents and excellent communication between the spouses.  Chris and Jeff discuss common issues of family strife that occur when there is not clear financial expectations between the parties and their families.    https://www.aarp.org/money/investing/info-2023/financial-checklist-before-remarriage.html

“Live Long, Die Short” – Chris Boyd and Jeff Perry welcome Dr. Roger Landry to the show. After a twenty-three year career in the Air Force, he became the President and Chief Content Officer of Masterpiece, which is an organization with the goal to research and change the perception on “health, change, and aging”. In addition, Dr. Landry is the author of “Live Long, Die Short: A Guide to Authentic Health and Successful Aging”. Dr. Landry focuses his comments on helping older adults achieve and maximize their true potential for healthy longevity, one that is based on research-backed content and lifestyle-focused measurements.  Dr. Landry calls his holistic approach to a “Health Portfolio” is driven by having a purpose, learning new things, engaging in physical movement, and maintaining strong social connections.