Our 2 Cents

The New Year and new updates to your retirement plan! Today we discuss how the SECURE Act is changing the way you can contribute to your retirement accounts and the new start date to take your RMDs. After that, we converse about all the tax dollars that state of Illinois received after the first day of Marijuana being legalized! Tune in now!2019 Stock Market Review: Quick Hits – SGL Financial How Changes in Retirement and Tax Law Will Help Save You Cash in 2020 (Yahoo Finance)Why The SECURE Act makes 2020 The Year of Missed RMDs From IRAS (Forbes)Nearly $3.2 million in legal weed sold in Illinois on the first day of sales, marketing one of the strongest showings in history of marijuana (Chicago Tribune)Google’s AI system can beat doctors at detecting breast cancer (CNN)

In honor of our 30th episode today, we take a ‘deep dive’ into reviewing what a retirement income plan really is and how to build one. After our ‘deep dive’, we come up to the surface to see what new technology Elon Musk and Ford have in store for us.Tune in now!Special Podcast Deep-DiveReviewing Your Retirement Income PlanWhat is a retirement income plan?Do you have a plan?What should you be reviewing?What could go wrong?Ford is turning McDonald’s coffee waste into headlights (CNN)Tesla reveals Cybertruck, but breaks its ‘unbreakable’ windows during unveiling (CNN)

Trump’s impeachment trial is leaving everyone with one big question; how is this effecting the markets? Then we jump into spending and saving this holiday and why you need to stay disciplined with your budget. Concluding with a ‘course correction’, we review today’s top ten most expensive cars in the world! Tune in now!The stock market heads to record heights even as the Trump impeachment hearings enter a new phase – here’s why (MarketWatch)How to Choose the Right Budget System (NerdWallet)Hotel Zachary opens ‘glamp’ site on its terrace, with hot toddies, a hygge vibe and views of Wrigley (Chicago Tribune)Amazon announces deals, says Black Friday sale starts Nov. 22 (WGN News)Survey: 1 in 6 shoppers are still paying off last year’s holiday debt (Yahoo Finance)The 10 Most Expensive Cars in the World (Esquire)

It’s a cold brisk morning so the heat is on! Callers questions are discussed and answered on investment fees and Medicare options. Then as Gabriel steals the ball back, we get right down to the paint on the court; should students get paid to play.Tune in now!Daylight savings time: These states want to make DST permanent (Yahoo)Caller Question"It’s open enrollment time, should I explore other options for Medicare Part D?" (Rick)Caller Question"Am I being overcharged for investment fees?" (Debbie)The NCAA Votes to Allow Student Athletes to be Compensated (Morning Brew)Tesla’s solar-roof sales will grow ‘like kelp on steroids,’ Musk vows (Market Watch)Here’s everything Apple isn’t telling you about its new credit card (Market Watch)

Today Steve takes the wheel and steals the show! We discuss the big economic, “What-If?” and how the herding mentality of investors can really pull the markets in one direction. After the heat is over, it’s all about Food! Tune in now!US. Recession Chances Hit 27% Within Next 12 Months: Tracker (Bloomberg)Behavioral Finance: Concepts, Examples and Why It’s Important (The Street)The Best Dog Foods, According to Veterinarians (The Strategist)How Do the New Plant-Based Burgers Stack Up? We Taste-Tested Them (The New York Times)FedEx Completes First Commercial Drone Delivery (Transport Topics)

On today’s “shoe”, GE’s pensions follow United Airlines suit into a deep freeze. Next up is our Monthly Stock Market Review and finally, we talk about the elephant in the room: Saving for your retirement or college tuition. Tune in now!GE freezes worker pensions – what to do if your employer changes the terms of your retirement plan (MarketWatch)The No. 1 highest paid, most in-demand job in every U.S. state (MarketWatch)Monthly Market Review (SGL Financial) Do You Save for College or for Retirement? What Parents Need to Know (Kiplinger)When Efforts to Eat ‘Clean’ Become An Unhealthy Obsession (NPR)‘Storm Area 51’ Fails to Materialize (NPR)

This week’s episode we discuss what FSAs and HSAs are; (Flexible Spending Accounts and Health Savings Accounts) and which one could be a better option for you. Then we dive into another one of our Listener’s Questions on after tax contributions and converting to a Roth. Is it quite that simple?Tune in now!· FSAs Vs. HSAs: Which is the Best Fit for You? (U.S. News)· Federal Reserve’s interest-rate cuts hurt the economy by tamping down lending (MarketWatch)· Listener Question – Erico After tax contributions inside of an IRA – can he convert to a Roth IRA?· Women lag behind men in retirement savings in a big way, report shows (USA Today)· Willis Tower owner is buying a majority stake in Great Wolf Resorts, which plans to expand its chain of water park lodges (Chicago Tribune)

On today’s show we introduce our new Monthly Market Update section to keep you ahead of the curve. Our runner up article showcases just how influential one small tweet can be and then we round our show up on how to keep your brain active in retirement years.Tune in now!How to keep your 401(k) running smoothly – no matter what (MarketWatch)JPMorgan has created a ‘Volfefe Index’ to track how Trump’s tweets move markets (CNN)Client Question – Amy -At our last economic event, Amy asked “Is it better to rent or to buy?”Monthly Market Summary (SGL)To Save Your Brain, Fill Your Calendar (AARP)

Today we look at some interesting, but obvious ways to destroy your retirement. Then, just in case you’re already doing a great job of ruining your retirement, we talk about 38 side hustles to earn extra cash. Finally, we'll tell you how to spend it on a weekend getaway in Grand Rapids, MI!Tune in now!10 money pits that can ruin your retirement (MarketWatch)38 Ways to Earn Extra Cash in 2019 (Kiplinger)2Q Annuity Sales Bust More Records (The Wealth Advisor)Fall Weekend Getaway to Grand Rapids (Midwest Living)

On today’s show we see how the economy is edging closer to a recession and what that means for investors. Then we cover the idea of “cutting the cord” and finally we see how much of a mess Google Maps made.Tune in now!Here’s what was covered in this episode: World Economy Edges Closer to a Recession as Trade Dread Deepens (Bloomberg)Sentiment Investor Sentiment Survey (AAII)The days of trying to haggle over your cable TV fee are gone (Yahoo Finance) 2020 Mid-Engined Corvette C8: Everything We Know (Motor1) Google Maps Leads about 100 Drivers Into a “Muddy Mess” in Colorado (NPR)

On today’s show we review the Federal Budget and what more spending means for the economy. Then we switch over to answer one of our listener’s question if she should lend money to a family member and finally, we question Chicago Mayor, Lori Lightfoots’ plan for a new casino.Tune in now!Here’s what was covered in this episode: Federal budget would raise spending by $320 billion (The New York Times)Listener Question – should I loan money to a family member? “Anna from Oak Brook”Proving you deserve $20,000 from Equifax settlement will be nearly impossible (CNBC)Am I Keeping Too Little in My Checking Account? (Money)Lightfoot names five sites, all on South and West sides, as possible casino locations (Chicago Tribune)

This week’s episode we talk discuss how your kids can potentially destroy your retirement, gearing up for the big two-day sale on Amazon next week and then learning the basics of how to read trust and what all the legal jargon really means.Tune in now!Here’s what was covered in this episode: Don't Let the Kids Wreck Retirement (Kiplinger)Amazon Prime Day 2019: Everything we know so far (Yahoo Finance)A Beginner's Guide To Reading A Trust (Forbes)16 Great Small Towns for Early Retirement (Kiplinger)Illinois’ Gas Tax Hike: It’s Going to Hit More Than Motorists (Chicago Tribune)

Our 2 Cents – Episode #019On today’s show this week, we keep things fun and joyous for our nations upcoming holiday, discuss how Financial Therapy really impacts your overall well-being and ponder on what happens if there’s a shortage of avocados!Tune in now!Here’s what was covered in this episode: Fun 4th of July facts (Acei Global)Using Financial Therapy to Deal With Money Issues (Forbes)We get more joyful as we age (Forbes)Sales to Watch for on 4th of July (Yahoo Finance)Avocado Prices Rising (Yahoo Finance)

Our 2 Cents – Episode #018One third of the worlds oil flows through the checkpoint at The Strait of Hormuz in Iran; imagine what could happen to the economy if this “black swan” event continues.On today’s episode, we look at what’s happening in Iran and how it can affect the stock market. Then we dive right into the worries and woes of a potential bear market on the horizon.After that we discuss one of our listener’s question; Rick from Mount Prospect, IL want’s to know if now is the time to invest in the Cannabis Industry.We wrap up the show by talking about the $22,393,460,288.22 debt our country is facing and what that means for you and your taxes.Fun fact; Did you know, that in 1835, one of our nations Presidents footed the bill completely eliminating our nations debt?Here’s what was covered in this episode: Will Iran Torpedo The Stock Market? Threats Multiply For The “Longest Bull Market Ever”https://www.forbes.com/sites/jeffcamarda/2019/06/19/will-iran-torpedo-the-stock-market-threats-multiply-for-the-

Our 2 Cents – Episode #017Last Minute Gifts for Father’s Day, How to pay for Long Term Care and The Robots are Back! On today’s show with Gabriel, Steve and Trent, they talk about who some last-minute gifts for the Dad’s out there. Letting your Dad win in the 18 rounds of golf just might be worth the drive… All pun intended! We then shift gears and discuss the elephant in the room that no one wants to talk about… long term care. Did you know that 52% of people over the age of 65 will need long term care? That’ something to think about. At the end of the show we wrap it up with the new and cool way to get around Chicago. This Saturday the scooters are coming! Tune in now to hear all the excitement! Here’s what was covered in this episode: 11 last-minute Father’s Day gifts 2019 (Today)https://www.today.com/style/father-s-day-gift-guide-t97926A new way to pay for the single biggest expense in retirement (Marketwatch)https://www.marketwatch.com/story/long-term-care-insurance-has-a-shaky-future-here-are-new-ways-t

Join Gabriel, Steve and Trent on this week’s podcast where they discuss an important retirement reform bill called the SECURE Act and the ways in which the new bill could affect your retirement savings and contributions.We then take some time to talk about debt, and the types of debt that truly impact many of our everyday lives. From student loan and credit card debt and Elizabeth Warren’s plan to #CancelMyDebt, to ways to get credit card perks and reward without applying for a new card, we’ll cover it all.We shift focus to Social Security where we share our thoughts on whether or not it will be around in the future, and what all that fine print in your statement actually means.We wrap up this episode with some interesting new updates coming soon to the way you will be able to watch Chicago Cubs games! Don’t miss out! Listen now!

Our 2 Cents – Episode #015Debating Suze Orman, Reverse Mortgage Highlights and Side Hustles for Extra CashWhen listening to the big celebrity money experts, do they really have your personal goals and interest in mind? On Suze Orman’s own money “no-no list”, Number 6 is: Don’t put blind faith in a financial adviser. If you listen to everything she says, then you’re not listening to her advice. After agreeing to disagree with celebrity money experts, we focus on re-building a sound financial foundation; What is a reverse mortgage, how do they work and is it right for you. And if you need a little boost to your income for some extra spending money, we converse about the 26 ways you can start earning cash today! Here’s what was covered in this episode: Suze Orman Says These are the Biggest No-No’s (Yahoo Finance)https://finance.yahoo.com/news/suze-orman-says-biggest-money-142928266.htmlWhat is a Reverse Mortgage? (Retirement Living)https://www.retirementliving.com/what-is-a-reverse-mortgage26 Legit Ways to Make

The trade war between President Trump and China’s President, Xi Jinping is waging even more now. After Beijing increased tariffs on $60 billion of U.S. goods, President Trump is ready for a sit down. Do you think they will come to terms?After that heavy debate, we discuss whether it’s worth it to buy a timeshare. Can the pros outweigh the cons? The maintenance alone could be the caveat to your decision. Speaking of spending money…. Do you know what the biggest money wasters are for the average American? If you said tattoos and shoes, you might be on to something! Here’s what was covered in this episode: Quick Trump Tariff War Updates (Morningstar)So, Should I Purchase That Timeshare? (SGL Financial) Listener Q&A - Joe from Mt. Prospect - Should my Trust be the Beneficiary of my IRA? (Joe, Mount Prospect)Retirement money Wasters (Marketwatch)What Does it Take to be a Millionaire (Yahoo Finance)Best Companies for Employees (Yahoo Finance)

America’s Strongest Workforce, Managing Your RMDs, G.O.T. Spoiler Alert and the Costs for MedicareBaby boomers are still America’s strongest workforce today. What’s in store for the rest of us once that generation is retired?After that segment, we take a closer look at Required Minimum Distributions and the options you may have lurking behind your door. Should you convert to Roth? Should you reinvest? Or should you take the money and run like Starbucks did from G.O.T.’s last episode?Lastly, we discuss the various options that Medicare has to offer and how much it really costs… Oops, did you think it was free? Here’s what was covered in this episode: Elderly Workforce Has Doubled Since 1985 (Yahoo)The Key Essentials of RMDs (Yahoo Finance)Starbucks Gets $2.3 Billion in free Advertising for Game of Thrones mishap (CNBCWhat You Need to Know About Medicare (CNBCWalmart Doubling Down on Robot Janitors (CNN)

Warren Buffets One Sentence Advice, Pritzker’s Toilets & Taxes and Retiring Without BordersOur 2 Cents – Episode #012Warren Buffets One Sentence Advice, Pritzker’s Toilets & Taxes and Retiring Without Borders!On this week’s podcast, we discuss Warren Buffett’s latest advice; “…Never listen to people like me…” and why time spent in the market is more important than trying to time the market.Governor Pritzker is currently under federal investigation for property tax fraud at his personal mansion in the Gold Coast…that didn’t take long, Illinois!We also discuss some of the most exotic and best weather spots to retire all around the world and whether it’s really worth the move. Tune In Now!Here’s what was covered in this episode: Is the Worst Over yet for Apple & iPhone? (CNN)Warren Buffets 1-Sentence Advice for Investing (Yahoo Finance)Should you invest in Real Estate in Retirement? (CNN)JB Pritzker Accused of Property Tax Appeals Fraud (WBEZ 91.5 Chicago)The Countries With the Best Weather For Retir