All About Your Benjamins™

In this episode, Terry and Justin talk about health, longevity, and the Yin and Yang of living longer and trying to do so with good health. Special guests in today's episode! https://youtu.be/E3BatdXyCb0 Listen: Apple Podcasts Spotify Disclaimer: Nothing on this blog should be considered advice, or recommendations. If you have questions pertaining your individual situation you should consult your financial advisor. For all of the disclaimers, please see my disclaimers page.

In this episode, Terry reflects on the first year of his "Encore", aka retirement. The guys not only talk about how Terry has adjusted to his new life but also discuss some of the economic headwinds being experienced right now. In addition to The Next Episode, Terry has started writing about his experiences on his blog, Terry's Thoughts. Check it out at www.terrysthoughts.co. Plan to see an uptick in episodes of The Next Episode---we're looking to find our cadence to where you can expect to see a new episode every other week. https://youtu.be/2ftDFHfxDUA Listen: Apple Podcasts Spotify Disclaimer: Nothing on this blog should be considered advice, or recommendations. If you have questions pertaining your individual situation you should consult your financial advisor. For all of the disclaimers, please see my disclaimers page.

This episode of the More Than Money Series features Andrew Martz CFP®, MBA. Andrew's chapter, What The Hat Lady Of Hollywood Taught Us can be found on page 105. Be sure to stay tuned for more episode with the authors of More Than Money. If you haven’t purchased your copy you can do so by clicking here–your purchase will help support The BLX Internship and The Foundation Of Financial Planning, so not only will you have a great book to read but you’ll be helping us move our profession One Step Forward! https://youtu.be/7-gg7bvXVuk Disclaimer: Nothing on this blog should be considered advice, or recommendations. If you have questions pertaining to your individual situation you should consult your financial advisor. For all of the disclaimers, please see my disclaimers page.

This episode of the More Than Money Series features Jordan Benold. Jordan's chapter, High Earners, Not Wealthy...Yet can be found on page 89 . Be sure to stay tuned for more episode with the authors of More Than Money. If you haven’t purchased your copy you can do so by clicking here–your purchase will help support The BLX Internship and The Foundation Of Financial Planning, so not only will you have a great book to read but you’ll be helping us move our profession One Step Forward! https://youtu.be/inyPOo_bve8 Disclaimer: Nothing on this blog should be considered advice, or recommendations. If you have questions pertaining to your individual situation you should consult your financial advisor. For all of the disclaimers, please see my disclaimers page.

This episode of the More Than Money Series features Melissa Joy. Melissa's chapter, From Unanswered Questions To Financial Confidence, can be found on page 221. Be sure to stay tuned for more episode with the authors of More Than Money. If you haven’t purchased your copy you can do so by clicking here–your purchase will help support The BLX Internship and The Foundation Of Financial Planning, so not only will you have a great book to read but you’ll be helping us move our profession One Step Forward! https://youtu.be/osD_1MTiUT4 Disclaimer: Nothing on this blog should be considered advice, or recommendations. If you have questions pertaining to your individual situation you should consult your financial advisor. For all of the disclaimers, please see my disclaimers page.

This episode of the More Than Money Series features Kevin Mahoney. Kevin's chapter, Living Your Own Financial Life can be found on page 193 . Be sure to stay tuned for more episode with the authors of More Than Money. If you haven’t purchased your copy you can do so by clicking here–your purchase will help support The BLX Internship and The Foundation Of Financial Planning, so not only will you have a great book to read but you’ll be helping us move our profession One Step Forward! https://youtu.be/UY24wHkAc-k Disclaimer: Nothing on this blog should be considered advice, or recommendations. If you have questions pertaining to your individual situation you should consult your financial advisor. For all of the disclaimers, please see my disclaimers page.

This episode of the More Than Money Series features Todd Bryant. Todd's chapter, A Change Of Retirement Plans can be found on page 155. Be sure to stay tuned for more episode with the authors of More Than Money. If you haven’t purchased your copy you can do so by clicking here–your purchase will help support The BLX Internship and The Foundation Of Financial Planning, so not only will you have a great book to read but you’ll be helping us move our profession One Step Forward! https://youtu.be/1jRU0QVJ9uI Disclaimer: Nothing on this blog should be considered advice, or recommendations. If you have questions pertaining to your individual situation you should consult your financial advisor. For all of the disclaimers, please see my disclaimers page.

This episode of the More Than Money Series features Douglas Lynch. Douglas’s chapter, Picking Up The (Financial) Pieces can be found on page 71. Be sure to stay tuned for more episode with the authors of More Than Money. If you haven’t purchased your copy you can do so by clicking here–your purchase will help support The BLX Internship and The Foundation Of Financial Planning, so not only will you have a great book to read but you’ll be helping us move our profession One Step Forward! https://youtu.be/WD4BvvhCDak Disclaimer: Nothing on this blog should be considered advice, or recommendations. If you have questions pertaining to your individual situation you should consult your financial advisor. For all of the disclaimers, please see my disclaimers page.

This episode of the More Than Money Series features Steven Fox. Steven’s chapter, What Matters The Most can be found on page 95. Be sure to stay tuned for more episode with the authors of More Than Money. If you haven’t purchased your copy you can do so by clicking here–your purchase will help support The BLX Internship and The Foundation Of Financial Planning, so not only will you have a great book to read but you’ll be helping us move our profession One Step Forward! https://youtu.be/q1g1XboxtF8 Disclaimer: Nothing on this blog should be considered advice, or recommendations. If you have questions pertaining to your individual situation you should consult your financial advisor. For all of the disclaimers, please see my disclaimers page.

This episode of the More Than Money Series features Michael Baker. Michael's chapter, Finding A New Life Plan can be found on page 63. Be sure to stay tuned for more episode with the authors of More Than Money. If you haven’t purchased your copy you can do so by clicking here–your purchase will help support The BLX Internship and The Foundation Of Financial Planning, so not only will you have a great book to read but you’ll be helping us move our profession One Step Forward! https://youtu.be/icAsRPjB5tM Disclaimer: Nothing on this blog should be considered advice, or recommendations. If you have questions pertaining to your individual situation you should consult your financial advisor. For all of the disclaimers, please see my disclaimers page.

This episode of the More Than Money Series features Dana Menard. Dana's chapter, The American Dream can be found on page 113. Be sure to stay tuned for more episode with the authors of More Than Money. If you haven’t purchased your copy you can do so by clicking here–your purchase will help support The BLX Internship and The Foundation Of Financial Planning, so not only will you have a great book to read but you’ll be helping us move our profession One Step Forward! https://youtu.be/mynEp9rGGSQ Disclaimer: Nothing on this blog should be considered advice, or recommendations. If you have questions pertaining to your individual situation you should consult your financial advisor. For all of the disclaimers, please see my disclaimers page.

This episode of the More Than Money Series features Elliott Appel. Elliott's chapter, Living Today Planning For Tomorrow can be found on page 205. Be sure to stay tuned for more episode with the authors of More Than Money. If you haven’t purchased your copy you can do so by clicking here–your purchase will help support The BLX Internship and The Foundation Of Financial Planning, so not only will you have a great book to read but you’ll be helping us move our profession One Step Forward! https://youtu.be/-cN3KGM_2As Disclaimer: Nothing on this blog should be considered advice, or recommendations. If you have questions pertaining to your individual situation you should consult your financial advisor. For all of the disclaimers, please see my disclaimers page.

We kick the More Than Money Series with Shanna Due, AFC®. Shanna is not only the author of the chapter Save A Life?, which you can find on page 213 of the book but she is also the leader of the effort to bring More Than Money To Life. Be sure to stay tuned for more episode with the authors of More Than Money. If you haven't purchased your copy you can do so by clicking here--your purchase will help support The BLX Internship and The Foundation Of Financial Planning, so not only will you have a great book to read but you'll be helping us move our profession One Step Forward! https://youtu.be/AgzzLrJM0Ok Disclaimer: Nothing on this blog should be considered advice, or recommendations. If you have questions pertaining to your individual situation you should consult your financial advisor. For all of the disclaimers, please see my disclaimers page.

“The headlines that may or may not be impacting your financial plan and portfolio.” https://youtu.be/sBUKbgxWgPc Week In Review Articles The WSJ: The Markets Are Locked in a Game of Chicken With the Fed The WSJ: U.S. Consumer Sentiment Edged Up to Nine-Month High in Early January as Inflation Eased The WSJ: Economists in WSJ Survey Still See Recession This Year Despite Easing Inflation The WSJ: Yellen Calls on Congress to Raise Debt Limit https://twitter.com/AndreWorrell7/status/1614715010642739200 Weekly Mixtape Morgan Housel: The Art and Science of Spending Money "But that ultimate goal can break down when your relationship with money becomes an ingrained part of your personality. You struggle to break away from focusing on money because the focus itself is a big part of who you are." Casey Grisez: Trophies "What if we lived every day to win the "trophies" we want at the end of life rather than grinding ourselves down over today's game of whack-a-mole?" Dr. Joy Lere: Tipping The Scales "Unfortunately, many people lack the humility to admit that they don't (can't) know it all. They won't acknowledge that what works for them may not be appropriate for everyone everywhere. " Dr. Phil Pearlman: Gamifying Yourself "Whatever journey you are embarking on, whatever mountain you are about to climb, start with something that you feel confident you can do. Easy level one." Wealth Found Me: Decisions, Decisions: "It took me long after that school project to realize that the real risks are the silent, mundane tasks of everyday life. Our diets, posture, and even our sleep balance. What that project really taught me was that you need to get to the problem before the problem finds you." Jeremy Finger: Principles of Success From Charlie Munger, Finding Inner Calm, & The Science of Well-Being "Reputation and integrity are your most invaluable asset and can be lost in a heartbeat." A Wealth Of Common Sense: The Long-Term Wins "Patience will still be rewarded. Long-term investors will always have a higher probability of success than short-term investors." Of Dollars And Data: It's Time To Work "I don’t say this because I have anything against investment research, but to point out something that the investment industry doesn’t want you to know—most people don’t get rich through their investment decisions, they get rich through their income. They get rich through their work. Even those who do get rich from their investments, typically, had to work to get the money they used to invest in the first place." PRST: On Our PRST--Creativity On The Court With Justin Ochoa My Daily Notes Disclaimer: Nothing on this blog should be considered advice, or recommendations. If you have questions pertaining to your individual situation you should consult your financial advisor. For all of the disclaimers, please see my disclaimers page.

“The headlines that may or may not be impacting your financial plan and portfolio.” https://youtu.be/2-GgDLWmjIM Week In Review Articles The WSJ: Fed Raises Rate by 0.5 Percentage Point, Signals More Increases Likely The WSJ: U.S. Inflation Eased in November, CPI Report Shows The WSJ: Stocks Fall, Pressured by Mounting Recession Concerns The WSJ: Congress Faces Deadline for Keeping Government Funded The WSJ: FTX’s Sam Bankman-Fried Charged With Criminal Fraud, Conspiracy https://twitter.com/joelakamag/status/1603357394846760960?s=61&t=9yDC-ZlV5Q9Y7pltiMsTcQ Weekly Mixtape Morgan Housel: Why Competitive Advantages Die "The only thing harder than gaining a competitive edge is not losing that advantage when you have one. That’s as true for careers and investment strategies as it is for business. And since people are naturally optimistic, there’s a tendency to put more thought into finding an edge than not losing it once you find one." Casey Grisez: Sidewalk View "But when the boys and I went by other houses, we saw people relaxed and enjoying Thanksgiving. I began to feel like I was looking at how the holidays are supposed to be. I don't know if it was the fresh air, the huge meal, or the second glass of wine, but I thought about how many Thanksgivings I have left." Dr. Joy Lere: It's A Wonderful Life "We don't get to watch the reel of what this world would be like without us. Still, we need to live, love, and work knowing that it will count in ways that we will never fully know.  Think about the people you love the most. " Dr. Phil Pearlman: Setting Health Goals For 2023 "You don’t need to set impossible goals that will lead to injury if you don't know how your body responds to pushing it to its limits. Not getting injured is important as recovery time sets you backwards." Of Dollars and Data: The Gift Of Time "Because everything I write isn’t really about money, it’s about time. Time with your loved ones. Time to enjoy yourself. Time to live the life youwant. In the end, all of your money will be converted back to time anyways. If not now, then later. And if not by you, then by someone else. Possibly after you’re gone." More To That: The Meaning Of Life Is Absurd "In this futile pursuit of escaping the absurd, nothing will ever be good enough because we are always chasing an elusive grand narrative, our overarching meaning of life. We will forever be chasing our own tails, wondering when the hell the universe will answer our individual calls for purpose." A Wealth Of Common Sense: Money Lessons From White Lotus "The murder mystery aspect of the show was tremendous but my finance brain couldn’t help but notice a number of money and behavioral psychology lessons from this season’s cast." Clint Haynes: How Inflation Affects Planning Your Retirement "Inflation can really eat into your retirement if you’re not careful. However, with proactive planning, you can effectively combat inflation. You don’t have to let inflation slowly erode your lifestyle over time." Elliott Appel: Is Long Term Care Insurance Worth It? "How will you pay for care? Which assets will you use? Do you plan to receive care at home? Can you rely on friends and family for care and if so, for how long? Is long-term care insurance worth it? " All About Your Benjamins: This Year's Best Present: Your Presence Disclaimer: Nothing on this blog should be considered advice, or recommendations. If you have questions pertaining to your individual situation you should consult your financial advisor. For all of the disclaimers, please see my disclaimers page.

“The headlines that may or may not be impacting your financial plan and portfolio.” https://youtu.be/FfKqValJtfA Week In Review Articles The WSJ: November Employment Report Shows U.S. Economy Added 263,000 Jobs The WSJ: Jobs Report Keeps Federal Reserve on Track for 0.5-Point Rate Rise The WSJ: Dow Shines as Higher Rates Squeeze Nasdaq’s Tech Stocks The WSJ: Yield Curve Inversion Reaches New Extremes The WSJ: Kroger Says Food Inflation Beginning to Ease https://twitter.com/FiSurgi/status/1597415923207802881 Weekly Mixtape Morgan Housel: Getting Wealth vs. Staying Wealthy "But keeping money requires the opposite of taking risk. It requires humility, and fear that what you’ve made can be taken away from you just as fast. It requires frugality and an acceptance that at least some of what you’ve made is attributable to luck, so past success can’t be relied upon to repeat indefinitely." Dr. Joy Lere: The Gifts We Give Our Kids "Older kids who may have more of a sense of what things cost can often catch on pretty quickly if someone is trying to replace time or presence with nice things. I talk to these people in therapy. Trust me, this strategy doesn't work. You can't buy love.' Dr. Phil Pearlman: A Practical Guide To Staying Healthy Over The Winter "It is my hunch that over the coming years, we will find that mobile device addiction, including use at night, is much worse for our mental and physical health than even the most ardent digital minimalists currently claim." Khe Hy: How To Deal With Regrets "I personally don’t have many regrets. Not because I’m special or risk-seeking, but because I see the actions I’ve taken in my life as exactly that: my life." A Wealth Of Common Sense: This Year Could Have Been Worse For Investors "Rational investing comes from the understanding that long-run returns are the only ones that matter." Of Dollars And Data: How Much Growth Can You Expect? "I wanted to share these results because there are many personal finance gurus who will advertise expected growth numbers far in excess of this and it can be quite misleading. " The Reformed Broker: Why They Clapped For Sam Bankman-Fried "Bernie Madoff confessed his crime to his sons and he was in handcuffs before the end of the day. And that shit was like fifty times more complex than wiring customer funds into a hedge fund or using collateral to buy properties in the Bahamas in your parents’ names. Madoff had an entire floor of an office building in Manhattan dedicated to creating fake account statements, staffed with multiple accomplices, over the course of decades. Sam looks like an amateur in comparison. A dabbler. Still walking free, weeks later. It’s inexplicable." Jeremy Finger: Retirement Spending Is Just As Important As Retirement Savings "You have more immediate control over what you spend, than what you earn. Too often, financial articles talk about how to make more money. They don’t talk enough about needing less money." Disclaimer: Nothing on this blog should be considered advice, or recommendations. If you have questions pertaining to your individual situation you should consult your financial advisor. For all of the disclaimers, please see my disclaimers page.

https://youtu.be/sbE1MqzpwBc “The headlines that may or may not be impacting your financial plan and portfolio.” Week In Review Articles Mindful.org: How To Practice Gratitude CNBC.com: Black Friday Online Sales Top $9 Billion In New Record The WSJ: Congress Returns To Tackle Government Funding, Same-Sex Marriage, Railroad Strife CNBC.com: Student Loan Payments May Not Resume Until August Subscribe To The Weekly PRST to connect Mind, Body, Soul and Money. https://twitter.com/thejustinwelsh/status/1595115694768754704 Weekly Mixtape Casey Grisez: Thankful "While writing about that nightmare from 2003, I realized something: I'm grateful for it. It provided an appreciation for life, health, and the kindness and support of those around me. Realizing how short and unpredictable life is has fueled my desire to take (calculated) risks." Of Dollars And Data: Learning To Live "Many times in life you’ll have the opportunity to assume negative intent in others. Don’t do it. You’ll often be wrong and even when you are right, assuming negativity all the time is no way to go through life. Most people don’t want to wrong you. Keep this in mind before rushing to judgment. After all, one man’s trash isn’t always what it seems." Dr. Joy Lere: Boundaries--The Gift That Keeps Giving "When people first think of holding boundaries, they often think about how to set limits with others, but it's important to master yourself first. We are often our own worst enemy. We're quick to give ourselves excuses when we opt for the easy way out instead of showing up as the person we truly want to be." Dr. Phil Pearlman: The Seasonality Of Weight Gain "The Right Foot Rule says start the day super healthy. For me, this means 2 things. 1.) Getting a run or a workout in before the festivities begin, and 2.) Making sure the first thing you eat is healthy and satiating. This might mean having a bunch of eggs before the party or maybe you go in hard on the turkey before having anything else." Darius Foroux: To Build Inevitable Wealth, Simply Avoid Financial Ruin "There are multiple ways to build wealth. You can get rich in endless ways. That’s exactly what makes building wealth so difficult." Not Boring: Discounting Belief "The more uncertainty there is around cash flows and valuation methodologies, the more sensitive an asset should be to changes in the macro Belief Rate. That, I think, is the main reason crypto prices jumped so high during the 2020-2021 bull run and why they’ve tanked so hard in this bear market." A Wealth Of Common Sense: The S&P 500 is Not the Economy "But even if you had a crystal ball that foretold which one of those scenarios was coming in the new year, it probably wouldn’t help you predict what’s going to happen to the stock market." The Reformed Broker: Past Performance "Stocks have been the best asset class in terms of outperforming inflation over the last century. We know this for certain. Over the last seventy years, stocks are undefeated versus inflation, but only over the longest time horizons. Stocks have outperformed inflation 100% of the time over all twenty year periods." All About Your Benjamins: Why I'm Thankful I Burned Out "While you reflect back on what you’re thankful for this Thanksgiving holiday weekend don’t forget to look at the imperfect events in your life that with the benefit of hindsight were actually positives for you." Disclaimer: Nothing on this blog should be considered advice, or recommendations. If you have questions pertaining to your individual situation you should consult your financial advisor. For all of the disclaimers, please see my disclaimers page.

“The headlines that may or may not be impacting your financial plan and portfolio.” https://youtu.be/BIjuR1wGoVU Week In Review Articles The WSJ: Inflation Sits at 8.2% as Core Prices Hit Four-Decade High The WSJ: Dow Closes More Than 800 Points Higher in Volatile Day The WSJ: Mortgage Rates Hit 6.92%, a 20-Year High The WSJ: Inflation Pushes Social Security COLA to 8.7% in 2023, Highest Increase in Four Decades https://twitter.com/jayclouse/status/1580535354343686145 ☝️You can replace creators with everyone ☝️ Weekly Mixtape Morgan Housel: Little Rules About Big Things "People have vastly different desires, except for three things: Respect, feeling useful, and control over their time. Those are nearly universal." Casey Grisez: Resistance "I resorted to writing "STS = LTS" at the top of all my notes and papers: Short-Term Sacrifice equals Long-Term Success. (No, I was not one of the cool kids.) I wanted to remind myself to work through the hard classes, long days of homework, late nights, and endless frustration because it would pay off in the end" Andrew Zaro: Every Storm Runs Out Of Rain "While inside of those negative periods, our brains turn on their “pessimism bias,” where our thoughts tend to skew towards the negative, insinuating things will never get better and we are doomed. The truth is rather somewhere in between - as it always seems to happen." Dr. Joy Lere: Fault Lines "The times we choose blame are when we need nuance the most. Blame is easy, but it won’t get you where you want to go. Exert the cognitive effort to practice self-awareness and take a fuller perspective. It's much more likely to pay off. Pointing fingers rarely leads to productive outcomes." The Reformed Broker: You Weren't Supposed To See That "When some people have prosperity and the American Dream is still a brass ring for the masses to reach for, the system works. Everyone stays in line. When the American Dream is actually attained – by everyone all at once – the system buckles. That’s what you’re living through today." A Wealth Of Common Sense: What The Worst Case Scenario For Stocks "But when it comes to investing, you also have to balance being optimistic with being realistic. For me that means being a long-term rational optimist with the understanding that things can and will get really bad in the short-term on occasion." Pragmatic Capital: There's No Fed Pivot Coming "Many people these days are talking about a Fed “pivot”. This idea that they will alter their rate of change in interest rates and manage the “soft landing” they desire. But this implies that they’re in control and still moving the ball towards scoring. No. The Fed has already turned the ball over and they don’t realize it yet. And when they do they’ll have to backpedal. There will be no pivot because you can’t pivot when you’ve already committed a turnover." The Irrelevant Investor: Bad News Is Good News "Stocks go up over time, but they can experience brutal setbacks that make you question everything you once thought to be true. The key to harvesting that long-term return is patience, a strong stomach, and proper risk management, which can vary wildly from investor to investor." PRST: On Our PRST with Austin Keen--The Grinder PRST: The PRST--Why You Need To Keep Your Mind Positive https://youtu.be/Trmxq5xhyxQ Disclaimer: Nothing on this blog should be considered advice, or recommendations. If you have questions pertaining to your individual situation you should consult your financial advisor. For all of the disclaimers, please see my disclaimers page.

It's been a little over six months since Terry joined me at RLS Wealth and officially embarked on his "encore". I thought it would be fun to turn the mic on him and ask him what he's learned so far and what he sees coming in the future. We didn't cover everything in this first episode, so we'll be recording a part 2 soon. https://youtu.be/v0NTpm0OVhg Listen (coming soon) Apple Podcasts Spotify Google Podcasts Disclaimer: Nothing on this blog should be considered advice, or recommendations. If you have questions pertaining your individual situation you should consult your financial advisor. For all of the disclaimers, please see my disclaimers page.

“The headlines that may or may not be impacting your financial plan and portfolio.” https://youtu.be/sdO81L-GST8 https://twitter.com/lazettabraxton/status/1573853721137713158 Weekly Mixtape Morgan Housel: Incentives--The Most Powerful Force In The World "Stories are the only realistic solution, simplifying complex problems into a few simple sentences. And the best story always wins – not the best idea or the right idea, but just whatever sounds the best and gets people nodding their head the most. " The Reformed Broker: You're Not Good At This "It’s not numbers on a spreadsheet. We’re talking about people’s lives being played with. The social costs of being separated from employment are obvious on an aggregate level. On a local and personal level they can be catastrophic. Creating massive bubbles in one calendar year only to have to pop them in the following calendar year is irresponsible. There should be something in between 90mph and slamming on the e-brake. Is this not taught in PhD school? Most of us are taught moderation in elementary school. The marshmallow test. Impulse control. Nap time. Listening." Bob Seawright's The Better Letter: Working Hypothesis "Free global markets do not test reality directly. But a new product that works better than existing products can garner capital, sales, and profits, making such “truth” actionable. And false claims generally indicate a poor product and lead to fewer sales, providing accountability." Dr. Joy Lere: Third Eye Blind "Humans will go to great lengths to avoid looking in the mirror. The truth can be hard to stomach, but we can only reach our full potential when we dare to see ourselves clearly. This process occurs through relationships. We need other people to refract the parts of us we can’t, don't, and won’t see." Morningstar: The Worst Year In U.S. History For The 60/40 Portfolio "An even better reason not to jump off a cliff is the performance of the 60%/40% portfolio following past occasions in which it lost as much or more as it has this year. Over the five subsequent years following those past occasions, the portfolio turned in well-above-average returns -- as you can see from the table below." Disclaimer: Nothing on this blog should be considered advice, or recommendations. If you have questions pertaining to your individual situation you should consult your financial advisor. For all of the disclaimers, please see my disclaimers page.