Shows
Not Just Numbers: Honest Conversations with a Financial Advisor (and Lawyer!)Ep. 54 Making Sense of Equity Compensation with Maureen DonahueSend us a textIn this episode of Not Just Numbers: Honest Conversations with a Financial Advisor and Lawyer, Madison and Mike are joined by Certified Financial Planner Practitioner Maureen Donahue to unpack one of the most misunderstood, and potentially most valuable parts of employee compensation: equity. From stock options to RSUs, the team dives into what these benefits actually are, how to evaluate them, and what to consider when they're part of your compensation package. Whether you're a tech professional, executive, or just curious about how equity fits into your total compensation, this episode will help...2025-06-2612 minNot Just Numbers: Honest Conversations with a Financial Advisor (and Lawyer!)Ep. 53 Turning Retirement Savings into a Steady Income Plan Then joined by Eric from The Garden ArtisanSend us a textIn this episode of Not Just Numbers, Madison and Mike dive into one of the most common questions clients ask: How do I turn my retirement savings into reliable income? Mike explains the importance of timing Social Security benefits, strategies for minimizing lifetime taxes through smart withdrawal planning, and how to protect your portfolio against market downturns with proper asset allocation. Whether you’re approaching retirement or advising someone who is, this episode offers practical insights for creating a sustainable income plan.Then, Madison and Mike sit down with Eric, the fo...2025-06-1241 minNot Just Numbers: Honest Conversations with a Financial Advisor (and Lawyer!)Ep. 52 Why Zero Income Tax Doesn’t Mean Zero Financial SurprisesSend us a textIn this episode of Not Just Numbers, Madison and Mike break down a recent Wall Street Journal article that challenges the popular belief that moving to a no-income-tax state guarantees retirement savings. From skyrocketing insurance costs to hidden fees and property taxes, Mike explains why retirees need to think beyond just income tax rates when relocating. Learn how financial strategies like Roth conversions can help reduce state-level tax burdens, and why every move should come with a full cost-of-living analysis. Don’t pack your bags without tuning in first. Link to WSJ...2025-05-1511 minNot Just Numbers: Honest Conversations with a Financial Advisor (and Lawyer!)Ep. 51 Beyond the Numbers: Preparing Mentally and Emotionally for a Fulfilling RetirementSend us a textIn this episode of Not Just Numbers: Honest Conversations with a Financial Advisor and Lawyer, Madison and Mike dive into a New York Times article about the mental and emotional challenges of retirement. They discuss why thoughtful preparation beyond finances is essential for a successful and fulfilling retirement, the importance of finding purpose after leaving the workforce, and how social engagement, hobbies, and volunteer work can significantly impact retirees' well-being. Mike shares real-world insights and emphasizes that retirement planning is about much more than just hitting a savings goal — it’s about designing a me...2025-05-0114 minNot Just Numbers: Honest Conversations with a Financial Advisor (and Lawyer!)Ep. 50 Financial Market Recap with Mike Then Employee Spotlight on Amy GarrySend us a textIn this episode of Not Just Numbers: Honest Conversations with a Financial Advisor and Lawyer, hosts Madison Demora and Mike Garry introduce April’s Employee Spotlight, Amy Garry—financial planning associate at Yardley Wealth Management. Amy shares her journey into the industry, her dedication to the firm's mission, and a few fun personal details. Mike also dives into a candid discussion about recent market volatility, offering perspective on long-term investing, stress-testing financial plans, and how emotions and news headlines can mislead even seasoned investors. Whether you're new to financial planning or navigating uncertain mark...2025-04-1715 minNot Just Numbers: Honest Conversations with a Financial Advisor (and Lawyer!)Ep. 49 The Psychology of Financial Wellness: A Conversation with Dr. Emily KoochelSend us a textIn this episode of Not Just Numbers, hosts Mike Garry and Madison DeMora sit down with Dr. Emily Koochel, a leading expert in financial wellness, behavioral finance, and financial psychology. As the Manager of Financial Wellness at eMoney Advisor, Dr. Koochel shares insights on how our relationship with money is shaped from an early age, the impact of financial transparency on trust, and strategies for navigating financial conflicts in relationships. She also discusses the psychological challenges of retirement and the importance of connecting with one’s future self. Whether you’re a financial prof...2025-04-0343 minNot Just Numbers: Honest Conversations with a Financial Advisor (and Lawyer!)Ep. 48 Investing Smarter: Strategies for Long-Term Success with Apollo LupescuSend us a textIn this episode, Mike and Maddie welcome Apollo Lupescu, Vice President at Dimensional Fund Advisors, a premier investment manager with over $800 billion in assets. With a Ph.D. in Economics and Finance from UC Santa Barbara and 21 years at Dimensional, Apollo offers deep insights into the firm’s data-driven approach to investing. He explains key investment concepts, including the differences between mutual funds and ETFs, the benefits of stock ownership, and how bonds serve as an alternative to equities. Apollo also discusses the evolution of investing strategies, the importance of global diversification, and wh...2025-03-201h 00Not Just Numbers: Honest Conversations with a Financial Advisor (and Lawyer!)Ep. 47 Roth IRA vs. Traditional IRA: Is a Conversion Right for You? Then joined by Tim and Suzanne from T. Foster & Co.Send us a textIn this episode of Not Just Numbers: Honest Conversations with a Financial Advisor and Lawyer, hosts Madison Demora and Mike Garry break down everything you need to know about Roth IRA conversions. If you're considering converting your traditional IRA to a Roth IRA but aren’t sure if it’s the right move, this episode is for you. Mike explains the key differences between traditional and Roth IRAs, the tax implications of a conversion, and who should (or shouldn’t) consider making the switch. They discuss timing strategies, how much to convert, and why fa...2025-03-0648 minNot Just Numbers: Honest Conversations with a Financial Advisor (and Lawyer!)Ep. 46 Retirement Spending Fears: Why Even Wealthy Retirees Hold BackSend us a textIn this episode of Not Just Numbers, Madison Demora and Mike Garry discuss the surprising trend of wealthy retirees underspending in retirement despite having the financial means to enjoy it. They explore the "retirement consumption puzzle" and the psychological shift from decades of saving to spending. Mike shares insights from client experiences, explains the importance of planning for meaningful spending, and offers strategies to strike the right balance between financial security and enjoying life's best years.WSJ article link: https://www.wsj.com/personal-finance/retirement/retirement-spending-longer-life-savings-4b5110532025-02-2016 minNot Just Numbers: Honest Conversations with a Financial Advisor (and Lawyer!)Ep. 45 Why Paying More Taxes Now Can Be a Smart MoveSend us a textIn this episode of Not Just Numbers: Honest Conversations with a Financial Advisor and Lawyer, Madison Demora and Mike Garry break down a recent Wall Street Journal article, "Paying More Tax Can Be a Smart Play" by Laura Saunders. They discuss why traditional tax-deferral strategies may backfire, especially for retirees with large tax-deferred accounts like 401(k)s and IRAs. Mike explains how proactive tax planning such as strategic Roth conversions and capital gains management can help reduce overall lifetime tax burdens. Tune in for expert insights on navigating required minimum distributions (RMDs), Medicare...2025-02-0619 minNot Just Numbers: Honest Conversations with a Financial Advisor (and Lawyer!)Ep. 44 The Pursuit of a Perfect Credit Score - Is It Worth It? Then joined by Ryan Dittes from RDs Total LawnSend us a textIn this episode of Not Just Numbers: Honest Conversations with a Financial Advisor and Lawyer, Madison and Mike discuss the fascinating story of Steve Mitchell, a Texas engineer who became determined to achieve a perfect 850 credit score. They explore Mitchell's journey, the strategies he used, and whether perfection is truly necessary when it comes to credit scores. Mike shares the importance of responsible credit habits, and when focusing on your score can become counterproductive. Tune in for practical advice on maintaining strong credit while keeping your financial health in perspective. Later in the...2025-01-2355 minNot Just Numbers: Honest Conversations with a Financial Advisor (and Lawyer!)Ep. 43 Maximizing Your Stock Awards: A Guide to RSUs and Stock OptionsSend us a textIn this episode of Not Just Numbers: Honest Conversations with a Financial Advisor and Lawyer, hosts Madison Demora and Mike Garry break down the essentials of employer stock awards, including Restricted Stock Units (RSUs), stock options, and the key financial strategies you need to know. Learn how vesting schedules, strike prices, and cashless exercises work, and discover how to manage tax implications while maximizing your income potential. Whether you're new to stock-based compensation or looking to diversify your portfolio, this conversation will help you make informed decisions about your financial future.2025-01-0917 minNot Just Numbers: Honest Conversations with a Financial Advisor (and Lawyer!)Ep. 42 Communicate with Your Loved Ones to Ensure Your Wishes Are Honored then joined by Paula Zimmerman from ProSonder SolutionsSend us a textIn this episode of Not Just Numbers: Honest Conversations with a Financial Advisor and Lawyer, Madison and Mike discuss the critical importance of living wills and advance directives. Inspired by a recent Wall Street Journal article, "When Making a Living Will, Talk to Your Loved Ones." If you’ve ever wondered how to ensure your medical wishes are honored or how to prepare your loved ones for difficult decisions, this episode provides practical advice to help you navigate these essential conversations. Then, we welcome Paula Zimmerman, founder of ProSonder Solutions, an HR consulting fi...2024-12-121h 02Not Just Numbers: Honest Conversations with a Financial Advisor (and Lawyer!)Ep. 41 Job Switching and Your 401(k): How to Stay on Track with Retirement SavingsSend us a textIn this episode of Not Just Numbers: Honest Conversations with a Financial Advisor and Lawyer, hosts Madison Demora and Mike Garry discuss the hidden financial impacts of job changes on 401(k) savings. Reviewing insights from a recent Wall Street Journal article by Anne Tergesen, they explore how job-switching can disrupt retirement planning, often leading to neglected 401(k) enrollments or lowered savings rates. Together, they discuss practical strategies to avoid common pitfalls, from maintaining steady contributions to understanding the importance of proactive planning when rolling over 401(k) funds into IRAs. Tune in to discover...2024-11-1418 minNot Just Numbers: Honest Conversations with a Financial Advisor (and Lawyer!)Ep. 40 Including Pets in Your Estate Plan for Peace of Mind. Then joined by Michael Silverman from Silver Lining Insurance AgencySend us a textIn this episode of Not Just Numbers: Honest Conversations with a Financial Advisor and Lawyer, hosts Madison and Mike discuss the growing trend of including pets in estate planning. They explore why more people are designating guardians and funds for pets in their wills, a practice once limited to the wealthy. Key topics include the benefits and risks of including pets in estate plans, how much money to allocate for their care, the lack of legal oversight for pet guardians, and whether pet trusts, such as the one created by Leona Helmsley, are...2024-10-3152 minNot Just Numbers: Honest Conversations with a Financial Advisor (and Lawyer!)Ep. 39 Understanding Capital Gains: What Mutual Fund Investors Need to KnowSend us a textIn this episode of Not Just Numbers: Honest Conversations with a Financial Advisor and Lawyer, hosts Madison Demora and Mike Garry dive into an article from the Wall Street Journal titled "These Mutual-Fund Holders Should Brace Themselves for a Big Tax Bill" by Daisy Maxey. They discuss the tax implications of capital gains distributions in mutual funds, why these distributions occur, and how investors can minimize the tax impact. Mike shares personal anecdotes about his connection with the article's author and provides actionable strategies for managing mutual fund investments in taxable accounts. Tune...2024-10-1714 minNot Just Numbers: Honest Conversations with a Financial Advisor (and Lawyer!)Ep. 38 The Hidden Drivers of Market Success: Understanding Stock Market OutliersSend us a textIn this episode of Not Just Numbers: Honest Conversations with a Financial Advisor and Lawyer, Madison and Mike dive into the fascinating world of stock market gains. They discuss a recent article by Russ Wiles, highlighting research by Dr. Hendrik Bessembinder, which reveals that just over 4% of stocks account for all net wealth growth in the stock market over the last 100 years. Mike, a CFP® practitioner and estate planning attorney, breaks down the forces behind why such a small percentage of stocks drive long-term gains and challenges common assumptions about stock picking versus i...2024-10-0312 minNot Just Numbers: Honest Conversations with a Financial Advisor (and Lawyer!)Ep. 37 Making the Right Move: 401(k) vs. IRA - What’s Best for Your Retirement?Send us a textIn this episode of Not Just Numbers: Honest Conversations with a Financial Advisor and Lawyer, hosts Madison Demora and Mike Garry explore the complexities of managing your retirement savings. In the beginning of the episode, they tackle a listener's question on long-term care insurance. Then, dive into a Wall Street Journal article by Olivia Mitchell, discussing the pros and cons of rolling over a 401(k) into an IRA versus leaving it in an employer-sponsored plan. Mike shares expert insights on investment options, fees, fiduciary protections, and estate planning considerations. Whether you’re nearing re...2024-09-1926 minNot Just Numbers: Honest Conversations with a Financial Advisor (and Lawyer!)Ep. 36 Avoiding Complexity: Why Simplicity Should Drive Your Investment ChoicesSend us a textMadison and Mike discuss three articles from the Wall Street Journal related to the financial industry, focusing on the implementation of a fiduciary rule, the pros and cons of interval funds, and the high fees and lack of transparency in closed-end funds. They also explore the potential risks and returns of interval funds, the importance of educating investors about complex investment products, and the missed opportunities by Bill Ackman due to not innovating with lower fees and a direct approach to individual investors. The discussion concludes with the importance of lower expenses, transparency...2024-09-0537 minNot Just Numbers: Honest Conversations with a Financial Advisor (and Lawyer!)Ep. 35 Should I Have Umbrella Insurance? Featuring an Employee Spotlight on Madison DeMoraSend us a textMadison and Mike discuss the rising need for umbrella insurance due to increasing costs and larger claims, emphasizing its role in providing additional liability coverage. They highlight the importance of considering one's personal assets, risk profile, and net worth when determining the amount of umbrella coverage needed, especially for individuals with high visibility or in certain professions. Later, Mike turns the employee spotlight on Madison for a change! Madison discusses her journey at Yardley Wealth Management, her role in producing the company's podcast, and her personal interests outside of work. Madison also shares...2024-08-2225 minNot Just Numbers: Honest Conversations with a Financial Advisor (and Lawyer!)Ep. 34 Should I Buy Stocks Because of Their High Dividend Yield? Then joined by Ben Madden from Allied Cleaning ServicesSend us a textMadison and Mike discuss why investors might be drawn to high dividend yields, such as the potential for steady income and the allure of getting returns without waiting for stock appreciation. However, Mike cautions against the risks, including the possibility that a high yield might result from a declining stock price or unsustainable payouts. He also advises against focusing solely on high dividend yield stocks and instead considering a broader investment strategy, aiming for a globally diversified portfolio based on other factors. Later, we sit down with Ben Madden, the owner of Allied...2024-08-0827 minNot Just Numbers: Honest Conversations with a Financial Advisor (and Lawyer!)Ep. 33 Should I Transfer My House into My Children’s Names?Send us a textMadison and Mike discuss the complexities and financial implications of transferring a house to a child, including potential risks, tax liabilities, and the impact on Medicaid eligibility. They emphasize the importance of consulting with a financial advisor and elder law attorney to make a well-informed decision and stress that each individual's situation is unique. The discussion concludes with a call for listeners to gather all necessary information and seek expert advice before making any decisions.2024-07-2512 minNot Just Numbers: Honest Conversations with a Financial Advisor (and Lawyer!)Ep. 32 Pre-Retiree Education Series 5 of 5: Managing the Transition to RetirementSend us a textMadison and Mike discuss the key decisions to be made before and during retirement, emphasizing the importance of maintaining strong relationships, planning for uncertainties, and creating a retirement budget. They also underscore the need to prioritize physical and mental health, and to have essential legal documents in place. Lastly, they highlighted the importance of finding a balance between relaxation and staying active in strengthening relationships with family and friends.2024-07-1109 minNot Just Numbers: Honest Conversations with a Financial Advisor (and Lawyer!)Ep. 31 Pre-Retiree Education Series 4 of 5: Understanding Medicare BasicsSend us a textMadison and Mike discuss the intricacies of Medicare, focusing on its different types of coverage and eligibility criteria. Mike underscores the significance of enrolling during the initial period and the advantages of supplemental coverage like Medicare Advantage plans and Medicaid Gap policies. They also highlight the need for consultation with a Medicare specialist to tailor coverage to individual needs and budget.2024-06-2705 minNot Just Numbers: Honest Conversations with a Financial Advisor (and Lawyer!)Ep. 30 Pre-Retiree Education Series 3 of 5: Is Long Term Care Insurance Something You Should Consider?Send us a textMadison and Mike consider the significance of long-term care insurance in retirement planning, discussing its role in covering costs for individuals needing assistance due to aging, disability, or illness. They also address the complexities and challenges of long-term care insurance, including policy considerations and potential limitations, and highlighted the value of a personal assessment and the role of a financial advisor. Lastly, for those who wish to look into Long-Term Care insurance, they suggest the need for customizing policies to individual circumstances and recommended starting the search for such policies in your late f...2024-06-1310 minNot Just Numbers: Honest Conversations with a Financial Advisor (and Lawyer!)Ep. 29 Pre-Retiree Education Series 2 of 5: Transforming Social Security into a Winning Retirement StrategySend us a textMadison and Mike kick off series 2 of 5 of pre-retiree education. They discuss the role of social security as a retirement strategy, including its eligibility requirements and the benefits and drawbacks of claiming benefits at different ages. They also explore the impact of spousal and survivor benefits, and emphasized the importance of financial planning in optimizing social security within the larger context of retirement goals. 2024-05-3008 minNot Just Numbers: Honest Conversations with a Financial Advisor (and Lawyer!)Ep. 28 Pre-Retiree Education Series 1 of 5: Retirement IncomeSend us a textMadison and Mike introduce a new series involving pre-retiree preparation. In this episode they discuss retirement planning, focusing on income sources, longevity, inflation, healthcare expenses, investment returns, and tax implications. They emphasize the importance of a comprehensive and strategic approach to ensure financial sustainability throughout retirement. They also agree to continue the discussion in future episodes, with the next episode focusing on turning social security into a successful retirement plan.2024-05-1612 minNot Just Numbers: Honest Conversations with a Financial Advisor (and Lawyer!)Ep. 27 Navigating Conflicts with Financial Advice Then Joined by Realtor Amy PattersonSend us a textMadison and Mike discuss the shift towards fee-based and fee-only financial advisors and its impact on reducing conflicts of interest and improving clarity for clients. They also explore the potential conflicts of interest related to social security claiming behaviors and the trend of carrying mortgages into retirement. Lastly, they clarify the difference between a fee-based and a fee-only advisor and emphasize the importance of understanding and managing conflicts of interest in financial decision-making. Then Amy Patterson, a realtor at Remax in Newtown discusses her role in the home selling process, recent trends in...2024-05-021h 09Not Just Numbers: Honest Conversations with a Financial Advisor (and Lawyer!)Ep. 26 Can Bitcoin Become Obsolete? And then Carrie Reininger from Kitchen Me NowSend us a textMadison and Mike discuss the historical and potential risks associated with investing in Bitcoin, comparing it to the decline in value of natural pearls due to technological advancements. They highlight the importance of diversification, risk management, and hedging against Bitcoin's uncertain future. Additionally, they discuss the potential vulnerability of Bitcoin's code and the emergence of new digital currencies, emphasizing that no technology is immune to being replaced or disrupted. Lastly, they stress the importance of maintaining strong skills and financial stability. Later, joins Carrie Reininger from Kitchen Me Now. Carrie and her husband...2024-04-1846 minNot Just Numbers: Honest Conversations with a Financial Advisor (and Lawyer!)Ep. 25 Rethinking Dave Ramsey's Advice Feat. Charles Barrett from FZ Works & FZ CreativeSend us a textMadison and Mike discuss the pros and cons of Dave Ramsey’s financial advice, and how even the better parts of it have been challenged by societal and economic changes. They critiqued Ramsey's advice on debt management, car buying, and credit scores, and discussed the importance of considering individual circumstances and seeking help from financial advisors. They also explored the potential generational shift in attitudes towards debt and financial freedom, and the complexities of financial planning, including safe withdrawal rates and stock market returns. Later, Charles Barrett joins from FZ Works and FZ Cr...2024-04-0455 minNot Just Numbers: Honest Conversations with a Financial Advisor (and Lawyer!)Ep. 24 Are you Ready to Start Your Own Business? Feat. Julia Gambell from Salon J RaineSend us a textMadison and Mike discuss entrepreneurship. They emphasize the importance of investigating whether a business idea or passion can be profitable and scalable to be worth the time and money invested. They highlight the challenges of translating a talent or passion into a profitable business, the need for market research, developing a comprehensive business plan, and understanding one's target audience. They also discuss the different types of business structures, and whether someone should choose ad LLC or an S Corp. Later, Julia Gambell joins and shares her professional journey and experiences as a salon...2024-03-2156 minNot Just Numbers: Honest Conversations with a Financial Advisor (and Lawyer!)Ep. 23 Tax Planning Strategies in Your 60’s Featuring an employee spotlight on Maureen Donahue, CFP®Send us a textMadison and Mike stress the significance and opportunity of financial planning for individuals and couples in their sixties who are in the sweet spot of being able to withdraw money without penalty from their IRAs, but don’t yet have to take Social Security or Required Minimum Distributions from their IRAs. Tax planning can make a crucial difference in how much people ultimately pay in taxes and how secure their retirement is. Maddie and Mike also discuss tax-efficient investment strategies and the tax implications of investment income. They conclude that professional financial advice is...2024-03-0736 minNot Just Numbers: Honest Conversations with a Financial Advisor (and Lawyer!)Ep. 22 529 Plan Basics Feat. Heather Manley from Ninja DudsSend us a textMadison and Mike discuss the differences between education savings plans and prepaid tuition plans, and the benefits of 529 college savings plans. Later, they are joined by Heather Manley from Ninja Duds, a local consignment business. Heather explains that Ninja Duds operates by taking in clothing items from consigners, which are then posted on their website. Customers can browse items based on brand, size, or style, and make purchases online and then pick them up at their headquarters in Washington Crossing. Heather, a former teacher, shares her journey of transitioning into a new career...2024-02-221h 14Not Just Numbers: Honest Conversations with a Financial Advisor (and Lawyer!)Ep. 21 Will There be a Soft Landing? Featuring an employee spotlight on Karen Lynch!Send us a textMadison and Mike discuss the article "Beware the most crowded trade on Wall Street" by James Mackintosh of the Wall St. Journal and the widely held belief among investors in a forthcoming soft landing and lower interest rates. They also talk about the potential implications of the Federal Reserve's recent dovish forecast, as well as the potential impact of external factors on the likelihood of a soft landing and lower interest rates. The conversation concludes with a discussion about the importance of having a clear plan and being prepared for unpredictable issues. Later...2024-02-0829 minNot Just Numbers: Honest Conversations with a Financial Advisor (and Lawyer!)Ep. 20 How to Find the Right Financial AdviserSend us a textMadison and Mike discuss an article about the challenges faced by financial advisors competing with large brokerage firms. The article suggested a two-pronged approach of presenting an assigned fiduciary oath and utilizing the FINRA broker check website. Maddie and Mike emphasized the importance of finding a competent and experienced financial planner and the potential advantages and drawbacks of working with a large financial services company.USA Today article Mike is featured in: https://www.usatoday.com/story/money/personalfinance/2014/07/09/how-to-find-a-financial-adviser/12312291/2024-01-2540 minNot Just Numbers: Honest Conversations with a Financial Advisor (and Lawyer!)Ep. 19 Don't Listen to Predictions, Do This InsteadSend us a textMadison and Mike discuss the article Mike wrote about financial predictions, emphasizing the importance of long-term financial planning over short-term market predictions. They also discussed budgeting, financial planning, tax planning strategies, estate planning, and the importance of insurance. They stressed the need for individuals to understand their spending, income, investments, and pensions, and to have an emergency fund in a high-yield savings account. They also highlighted the importance of having proper estate planning documents in place and the potential drawbacks of relying solely on financial predictions for financial decision making.2024-01-1128 minNot Just Numbers: Honest Conversations with a Financial Advisor (and Lawyer!)Ep. 18 When Should I buy a Bond or a Bond Fund, and how much should I buy?Send us a textMadison and Mike discuss the ongoing debate between investing in individual bonds or bond mutual funds and ETFs. Mike prefers funds for ongoing investment but says that individual issues around specific savings goals make a lot of sense. The conversation also emphasized the importance of diversification, professional management, and tax implications. Towards the end, they discussed the potential safety and benefits of investing in bonds or bond funds, especially when there's a specific future need for the money.Link to article: https://www.wsj.com/finance/investing/bonds-vs-bond-funds-how-higher-rates-are-changing-the-calculation-2dbaf8be2023-12-2823 minNot Just Numbers: Honest Conversations with a Financial Advisor (and Lawyer!)Ep. 17 Revenge of the Boomers? Feat. Dan McLaughlin from Yardley RefillerySend us a textMike and Maddie discuss an article about potential losses boomers fear during their retirement due to these funds' potentially risky investments. They also touch on the shift from defined benefit plans to 401K plans and the responsibility it places on employees to manage their own retirement savings. Mike is concerned by the fact that target date funds are in practically all 401k plans but each fund company manages their funds differently and there are no standards. Madison and Mike talk with Dan McLaughlin, one of the owners of Yardley Refillery, discussing the...2023-12-141h 01Not Just Numbers: Honest Conversations with a Financial Advisor (and Lawyer!)Ep. 16 Even at 5%, Keeping too Much in Cash Will Cost You Feat. Anthony Tozzi from Regerts Ink RemovalSend us a textMadison and Mike discuss the factors investors should consider when deciding how much cash to hold in their portfolios, the risks of excessive cash holdings, the safety of money market funds, and the importance of diversification. They also explore the role of cash in an investment portfolio.Madison and Mike interview Anthony Tozzi, the owner of Regerts Ink, a tattoo removal company. They learned that changes in life or relationships and dissatisfaction with tattoo quality are common reasons people seek tattoo removal services. The business is doing well but faces branding and...2023-11-2333 minNot Just Numbers: Honest Conversations with a Financial Advisor (and Lawyer!)Ep. 15 Can Ai Replace your Financial Advisor?Send us a textIn this episode, Mike and Maddie discuss an article about whether Artificial Intelligence can replace your Financial Advisor. AI tools like ChatGPT have made impressive strides and can handle tasks like passing the bar exam for lawyers and assisting with medical diagnoses. The article explores whether AI is ready to replace financial advisers and assesses AI's performance against five essential qualities for effective financial advice.Link to article: https://www.wsj.com/tech/ai/ai-financial-advisers-chatgpt-7f0cac602023-11-0918 minNot Just Numbers: Honest Conversations with a Financial Advisor (and Lawyer!)Ep. 14 More Information doesn't Necessarily Lead to Better Investing feat. Scott Burney from Vault Brewing CompanySend us a textMadison and Mike discuss an article from the Wall Street Journal about the potential downsides of having too much information in investing. The article highlights the risks of making bad decisions due to over confidence from having so much information. Mike advises people to consider their overall financial plan instead of constantly checking their portfolios. He also mentions the evolution of information accessibility. It used to be thought that old time brokers got paid for having the information, while the role of advisors now is in making sense of it, using knowledge, context...2023-10-2645 minNot Just Numbers: Honest Conversations with a Financial Advisor (and Lawyer!)Ep. 13 Why Are Americans so Positive About Their Own Situation and so Negative About the Country's? Feat. Realtor Rico RodriguezSend us a textMadison and Mike discuss an article in the Trentonian based on a tweet by New York Times columnist David Brooks, which sparked a conversation about the current economic situation. Madison and Mike talk about the discrepancy between public perceptions of the economy and individual financial well-being, and the potential impact of social media on public perception. They also discuss the importance of maintaining historical perspective and not overestimating current hardships. Rico Rodriguez, a realtor at Berkshire Hathaway in Yardley, shares his background and experience in the real estate business. He highlights the...2023-10-1242 minNot Just Numbers: Honest Conversations with a Financial Advisor (and Lawyer!)Ep. 12 Mike Reflects on 25 YearsSend us a textMadison and Mike celebrated two anniversaries, one marking Mike's 25th year in the financial industry and the other commemorating his fifth year since completing an IRONMAN triathlon. Mike shared his journey from being a law school graduate struggling to establishing his career to moving to the financial industry. He also shared his experience of transitioning from being a wire house broker, to an independent financial advisor to starting his own firm, Yardley Wealth Management, and the challenges he faced. Mike emphasized the importance of continuous learning and adapting to changing circumstances, and the...2023-09-2849 minNot Just Numbers: Honest Conversations with a Financial Advisor (and Lawyer!)Ep. 11 Why Should I Care About Foreign Diversification for Stocks? Can't I Just Buy all Tesla? Or Google? Or AmazonSend us a textIn this episode, Mike and Maddie discuss the idea that you should diversify your stock holdings across countries and among many large and small companies. That doing so means your portfolio will go up and down in a more stable way, reducing a lot of risk. Buying stocks in only one country or a small number of companies is not a good strategy. Yes, the U.S. has been a great place to invest, and Tesla, Amazon and Google have had some great returns for investors, but it hasn’t be been all ro...2023-09-1417 minNot Just Numbers: Honest Conversations with a Financial Advisor (and Lawyer!)Ep. 10 What Percentage of your Portfolio Should be in Stocks? Feat. Sandy Smith From Smith PublicitySend us a textIn this episode, Mike and Maddie discuss a Wall Street Journal article that suggests that Baby Boomers are investing like 30-year-olds and questions the wisdom of that. As he always does, Mike takes issue with some of the methodology in the reporting and the conclusions the paper drew from it. Mike thinks that most people should have somewhere between 50 and 100% of their portfolio in stock funds, with retires probably around 50 to 70%. Of course, people with much more or less money than the clients he sees may want to be above or below those...2023-08-3152 minNot Just Numbers: Honest Conversations with a Financial Advisor (and Lawyer!)Ep. 9 What is a CD and How Does it Compare Among Other Cash Options? Feat. Sally Gadea From Panna Gelateria & BakerySend us a textMadison and Mike discuss Certificates of Deposit (CD’s), what they are, and options that are available. He explains that since the Fed started raising interest rates, people are more interested in bonds and other fixed-income securities for the first time in 15 years. He advises Madison and our listeners to buy only individual securities if they are backed by insurance or a government. Madison asks if CDs can be used as emergency savings, and Mike confirms that they can be, but they are more for short-term savings because if you liquidate them early, th...2023-08-1733 minNot Just Numbers: Honest Conversations with a Financial Advisor (and Lawyer!)Ep. 8 Advanced Estate Planning Techniques Feat. Bill Franchi From Old Republic Specialty Insurance Underwriters, IncSend us a textIn this episode, Mike and Maddie discuss advanced estate planning and its difference from basic estate planning. Michael explains that advanced estate planning uses the tax code to save taxes to effectively transfer more assets to other people or charities in your estate plan. Common advanced estate planning techniques include Irrevocable Life Insurance Trusts and Annual Gifting, which allows you to transfer assets to loved ones during their lifetime while reducing your taxable estate. Later, Bill Franchi joins to talk about his background and give some career advice to our listeners. Bill is...2023-08-0332 minNot Just Numbers: Honest Conversations with a Financial Advisor (and Lawyer!)Ep. 7 Do You Need a Trust? What are they? Feat. Liz Young the Owner of CommonPlace ReaderSend us a textMadison and Mike discuss Trusts and some of their more common uses. Mike explains that a Trust is a legal document that can stand on its own or be part of someone's Will. People with children and grandchildren as beneficiaries of their Will often use them to manage money and property for the younger generation.Liz Young, the owner of Commonplace Reader bookstore on Main Street in Yardley, explains that she sells fiction and non-fiction new books for adults, young adults, and children. She is originally from Massachusetts but moved to Yardley, P...2023-07-2048 minNot Just Numbers: Honest Conversations with a Financial Advisor (and Lawyer!)Ep. 6 Why You Need to Do Your Estate Plan and What you Need Feat. Heather Diprato the Publisher of Yardley Living and Newtown NeighborsSend us a textIn this episode, Mike and Maddie discuss why a Will, Power of Attorney, and Advance Health Directive are key components of an Estate Plan. Hiring a lawyer who specializes in estate planning is the best way to ensure a will is legally valid and effective. Later in the episode, Heather DiPrato joins us to share about her business. Heather is the publisher of Yardley Living and Newtown Neighbors, a magazine that features stories about upcoming events and expert contributors who write about topics of interest for the community. Heather also expresses her desire...2023-07-0651 minNot Just Numbers: Honest Conversations with a Financial Advisor (and Lawyer!)Ep. 5 Should you use the VIP section of Personal Finance – Venture Capital, Private Equity, Hedge Funds, Non-Traded REITS, and BDCs?Send us a textIn this episode Mike and Maddie discuss how Yardley Wealth Management decides which asset allocations make sense for clients, which mutual funds or ETFs to use, when we change funds, and when we re-balance. While we use 3rd party software (Fi360 and Tamarac) to help with our decision-making, it is mature, rational financial advisors who make those decisions, not a computer algorithm. We also discuss whether it is worth paying a premium to invest like an accredited investor by buying Venture Capital, Private Equity, Hedge Funds, Non-Traded REITS, and BDCs.2023-06-2218 minNot Just Numbers: Honest Conversations with a Financial Advisor (and Lawyer!)Ep. 4 We're Talking Free Money, Maddie, Free Money! Just Make Sure it is Insured.Send us a textIn this episode, Mike and Maddie talk about how we invest money for our clients with mutual funds and ETFs at Charles Schwab and TD Ameritrade, including why we prefer funds to individual stocks. Then we talk about all the money people are giving up by keeping their savings in low yield accounts at mega banks like Wells Fargo. Mike goes on about the credit union he uses and loves (Police & Fire Federal Credit Union or PFFCU for short) and says as long as the bank or credit union account insured, moving from...2023-06-0826 minNot Just Numbers: Honest Conversations with a Financial Advisor (and Lawyer!)Ep. 3 Saving and Investing are Different, So Let’s Talk about Risk, MaddieSend us a textIn this episode, Mike and Maddie discuss how we work with clients, how Mike stays current with the financial and legal landscapes, and how clients should take appropriate risks. That means for different goals they should often do different things with their money. We go over a story from the New York Times where a guy lost a lot of money not realizing the amount of risk he was really taking.Link to NYT article: https://www.nytimes.com/2022/12/05/business/cryptocurrency-investors-ftx-blockfi.html2023-05-2525 minNot Just Numbers: Honest Conversations with a Financial Advisor (and Lawyer!)Ep. 2 Is the 60/40 Portfolio a Bulletproof Way to Invest for Retirement?Send us a textIn this episode, Mike and Maddie discuss our process for onboarding new clients, a little about the financial planning process and the 60/40 portfolio. In a podcast and an article, the Wall Street Journal said a lot about the 60/40 portfolio that Mike and Maddie take issue with. Short story: its not bulletproof or dead, its an asset allocation that can make a lot of sense for many people.Link to article: https://www.wsj.com/articles/investment-retirement-stocks-bonds-market-11668015638 Link to podcast: https://www.wsj.com/podcasts/the-journal/a-historically-bad-year-to-retire/338a8c8d-a905-48...2023-05-1115 minNot Just Numbers: Honest Conversations with a Financial Advisor (and Lawyer!)Ep. 1 What To Do If a Loved One Dies, And You've Never Handled The MoneySend us a textIn this episode, Mike and Maddie discuss the purpose for the podcast, give an intro to our fee-only firm, and discuss how to handle things when a loved one dies and you have never handled the family's money. Spoiler alert: we discuss the "F" word, yes fiduciary2023-04-2521 min