In this episode, we explore how today’s investors are adapting to volatility, inflation, and complexity across markets.

Lance Roberts & Jon Penn explore Structured Notes: These complex instruments promise tailored returns, but they come with tax pitfalls and credit risks investors must understand before buying. We’ll break down how structured notes work—and why they may belong inside an IRA rather than a taxable account.
The Return of Adjustable-Rate Mortgages (ARMs): Homebuyers are betting that interest rates have peaked—opting for lower initial payments despite future risks. Are ARMs smart financial strategy or a sign of desperation in a high-cost housing market?

0:19 - Palantir : No Rewards for "Good" Results
5:19 - Does the Next Correction Start Today?
10:46 - Christmas Tree Forest & The Hobby Lobby Date
12:31 - Structured Notes Explained
15:39 - Why Am I So Lucky?
16:58 - Debt Obligation & Phantom Taxes
20:09 - What is the Risk - What Can Go Wrong?
23:54 - The Problem with Chasing Returns
27:05 - Know What You Own
29:12 - A word About Options & Puts
31:41 - Adjustable Rate Mortgages - The Worst Thing Ever Invented
36:36 - Don't Become Imprisoned by Your Home Mortgage
38:41 - What a "Starter Home" Should Cost
40:49 - Always Plan for What Could Go Wrong

Whether you’re a Gen Z investor, a first-time homebuyer, or a seasoned investor exploring structured products, this discussion will help you understand how financial behavior evolves when markets, rates, and risk collide.

📈 Subscribe for more data-driven insights on investing, risk management, and personal finance from Real Investment Advice.

Hosted by RIA Advisors Chief Investment Strategist, Lance Roberts, CIO, w Senior Investment Advisor, Jonathan Penn, CFP

Produced by Brent Clanton, Executive Producer
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Watch Today's Full Video on our YouTube Channel:
https://www.youtube.com/watch?v=G0B99SnHJ4U&list=PLVT8LcWPeAugpcGzM8hHyEP11lE87RYPe&index=1&t=24s
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Articles Mentioned in Today's Show:
"Gold Myths Luring Investors Into Risk"
https://realinvestmentadvice.com/resources/blog/gold-myths-luring-investors-into-risk/
"Investor Dilemma: Pavlov Rings The Bell"
https://realinvestmentadvice.com/resources/blog/investor-dilemma-pavlov-rings-the-bell/
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The latest installment of our new feature, Before the Bell, "Futures Flash Warning Signs" is here:
https://www.youtube.com/watch?v=slUg9jxb_Lo&list=PLwNgo56zE4RAbkqxgdj-8GOvjZTp9_Zlz&index=1#MarketUpdate
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Our Previous Show, "Investor Dilemma: Pavlov Rings the Bell," is here:
https://www.youtube.com/watch?v=GyKGGi6LSV8&list=PLVT8LcWPeAugpcGzM8hHyEP11lE87RYPe&index=1
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