Our 2 Cents

We have a great episode in store for you today!Steve and Gabriel kick things off by discussing a bit of a hit-or-miss topic: The Student Loan Forgiveness Plan. Next, they tackle the complex world of marketing and advertising in our industry, and finish the show answering a couple 'Getting to Know Us' questions!The Student Loan Forgiveness Plan:Who is going to see their federal student loans forgiven?How do you know if you qualify for the forgiveness?Insights into the controversial nature of this topicWhat are the presumed economic impacts from this?Marketing Manipulation:How headlines like "Invest Like the 1%" and "Hedge Funds For the Rest of Us" have gotten popular and garner a lot of attentionWhy marketing companies try to elicit emotional and instant reactions with their messaging Do these marketing companies have compliance oversight or regulations in the financial industry?Are there people with hidden agendas behind the messaging?Getting to Know Steve and Gabriel:If you coul

Gabriel and Steve are back at it again to review The Inflation Reduction Act now that it's been signed into law, they deliver a Pop Quiz on household health, and wrap up with a listener question! Listen now for a great new episode!The Inflation Reduction Act:Key provisions to pay attention to as they may impact you and we'll share when the changes will begin.Prescription drug benefits, premium tax credits for the ACA, hiring more IRS staff, and more.Changes to Medicare Part D such as out-of-pocket costs cap and "smoothing," premium increase limits, and other benefits to Medicare recipients.Pop Quiz!:What cleaning supplies contain VOCs (Volatile Organic Compounds)?What percentage of households typically do spring cleaning every year?What area of the bedroom did researchers find contains more germs than a chimpanzee bed?Which of these cleaning activities does not reflect the calories burned by a 150-lb person for one hour of the activity?Which household products are not recommended as safe c

We are back with another new episode of Our 2 Cents! Today we are discussing the rate increase for Social Security that might be coming your way, the dangers of procrastinating on your retirement planning and answering a question from one of our loyal listeners. Click below to listen in now!Social Security Raise Ahead in 2023 :Current assumptions show a huge jump in 2023 due to inflation.Just how much of an impact could that make for retirees?What else should you be aware of with a Social Security raise like this?The Procrastination Problem:Reasons procrastination might be stalling your retirement planning.Have you been "hitting the snooze button" on important planning decisions?How to overcome procrastination challenges.The importance of thinking longer-term and not only the immediate consequences.Listener Question:"You often talk about having retirement funds in different tax buckets. Do you recommend residents of Illinois contribute to Roth 401(k)s? I ask because I believe contributions to a

On this week's podcast episode, Steve and Gabriel give a synopsis of the proposed Inflation Reduction Act of 2022 and how the various innerworkings of the Act could potentially impact you.Next, they'll discuss times that they've found themselves "going against the grain" in terms of their financial planning advice. Join us now for this discussion!The Inflation Reduction Act of 2022:Will the effects be felt immediately or longer term?Expanding ACA subsidies and the impacts on premium tax creditsPrescription drug pricing reform and Medicare costsIRS funding and tax enforcementPlus more!Going Against The Grain:Using life insurance in retirement planningNever having any debtHave 6 months worth of cash for emergenciesBuying an annuity

Welcome back for another new episode of Our 2 Cents! We're talking about winning big in the lottery, another round of rate hikes by the Fed, and then we're having a lot of fun providing our perspectives on the advice of some well-known industry experts. Tune in now, and let us know what grade you'd give to some of these gurus.The Mega Millions Jackpot Surges:What should you do if you were to win?Should you take the lump sum or opt for the payments over several years?The Fed is At It Again:The Federal Reserve again lifted interest rates by 0.75%.Why are they doing this, and will it continue to slow down the economy?What could happen at their next meeting in September?Grading the Gurus & Their Advice:Phil Orlando (an Equity Strategist) says the market will decline further over the summer, and he favors value stocks over growth stocks.Sam Robson (a Financial Author) says the bear market is a fantastic opportunity for long-term investors; long-term being the key phrase.Robert Kiyosaki (an Autho

This week's episode of Our 2 Cents covers an interesting topic impacting many Americans over recent years. What to do if you find yourself unexpectedly without a job? Whether layoffs hit your department, or you just decided you've had enough at your current job, we're discussing the challenges and opportunities that exist when you're in between work. Then, we're spending some time diving in-depth into three great listener questions. Click below to listen in now!What To Do When You're In Between Jobs:Do you tap into your retirement savings for extra money while income is slowed or stopped?Should you find a new job or start your own business?How could retiring earlier than expected impact your financial plan?Listener Questions:"I have a weird situation. I have been funding my IRAs and 401ks over the years and have close to $2 million in those accounts. But now I need cash for a home repair I wasn't expecting and only have around $5,000 in the bank. Should I take the money

It's time to sharpen your pencils and get ready for our retirement planning pop quiz! We'll give you the questions below, but be sure to listen in to this week's episode to hear the multiple choice options and to see if you can answer them correctly!Plus, keep listening until the end for another "Getting to Know Steve and Gabriel" question!Retirement Planning Pop Quiz:At what age should people start saving for retirement?Which of these is the best estimate of how much income you'll need in retirement?Which of these do you find that retirees fear the most?Which of these examples best represents a diversified retirement plan?To make sure you don't run out of money in retirement, only withdraw _____ percent from your portfolio each year.Getting to Know Steve & Gabriel:What is your favorite cereal, now and when you were a kid?

Welcome back for another episode of the Our 2 Cents podcast!We're helping you spot "red flags" when interviewing potential financial advisors, or even when reviewing your current advisor. Then we're answering some very thoughtful listener questions today. Listen in now!Financial Advisor "Red Flags":Biases and the way advisors thinkNot getting what you need from who you likeToo much technical jargon, not enough valuable communicationOverconfident market predictionsAll upside, no downsideFamily tiesListener Questions:"According to Terry Savage, Suze Orman, and my tennis partner, I should be buying I Bonds. I've never done anything like this before. What do you think?" - John"I am curious how Savant is fairing during this Bear Market. Is their level of diversification standing up better than most?" - Tom

Storms were brewing here in Chicagoland and on Wall Street this week, and we're back to discuss it all on a new episode of Our 2 Cents!From the Fed's rate hike decision, to the current Bear Market, we're covering all the major events that took place this week. Plus, we're sharing some local "quick hits" and answering listener questions. Join us now!The Fed's Aiming for a "Soft Landing":The Fed raised interest rates again in hopes to cool inflation, what does this mean for investors?Are we going into a recession? If we do, what could happen to the market?We've officially entered Bear Market territory - we'll explain what that means.Local Quick Hits:To infinity... and beyond! The new "Lightyear" movie premiered June 16.Caterpillar joins Boeing by making a major move.From an EF-0 tornado to a heatwave, Chicago weather continues to keep us on our toes.Listener Questions:"I'm interviewing and comparing a couple of different financial adviso

Welcome back to Our 2 Cents! This week's podcast takes a different view of retiring that is not often discussed: the pitfalls that can come with retirement.It's not all sunshine and rainbows every day of your golden years and we'll share some of the realities you may face when you retire, as well as some ways to avoid these problems. Then we're talking about levels of risk in your portfolio, and answering a getting to know us question!The Downsides of Retirement:The surprising fact about your net worthWhen boredom begins to creep inStruggling with spending guiltMany years in retirementWhat is Your Risk Profile?:Are you too much of a risk-taker?Risk assessments: how to identify a disconnect between your feelings about risk and your portfolioWays to reconcile the risk with your retirement moneyGetting to Know Steve and Gabriel:What kind of books do you like to read?

We start off with some fun on this week's episode of Our 2 Cents by drawing the names of our three raffle winners, congratulations to you all!Then, we're posing a few questions to see what "side of the fence" Gabriel and Steve are on. Next we take a look at some priorities to keep in mind as you approach retirement, and finish up by answering a question from one of our listeners.Debatable Questions - Where Do You Stand?:Is the market going to go up or go down?Should you always pay off your house as soon as you can?Should you ever use credit cards?Are individual stocks better than buying mutual funds or ETFs?The Countdown to Retirement:What are you planning to do in retirement, and how will you pay for it?Health insurance and ensuring there are no gaps in coverageReducing or eliminating debt before retiringPlanning your income sources and Social Security benefitsListener Question:"I am pretty much ready to retire, but I won't be old enough for Medicare for another six months. Shou

We've officially recorded 100 episodes of Our 2 Cents and we're so happy you're here to celebrate with us! Not only did we record the podcast for you to listen to this week, we also recorded a video of the episode so you can get a sneak peak at what happens behind the scenes! Watch the episode on our YouTube channel!On today's episode, we take a look back at the most popular episodes based on some listener data, we share Steve and Gabriel's favorite episodes, and the guys ask each other some blind questions. Tune in now to hear it all and find out how you can enter to win our special 100th Episode $100 Giveaway!Top 3 Favorite Listener Episodes:Based on number of listens, downloads and our growing listenership, we will share the top 3 most popular episodesSteve and Gabriel's Favorite Episodes:Steve and Gabriel will share what their favorite episode so far is, and why!Asking Blind Questions:We wrap up the episode with some interesting questions that the guys didn't get to see

The stock market has been very active and challenging lately so that is our sole focus of today's podcast episode.There are many questions that are top-of-mind for people right now mainly because we haven't seen a market quite like this in awhile. Gabriel and Steve are answering some of these questions for you, so listen in now!Answering Some of Your Questions:"What should I do with my portfolio right now?""I'm worried the market is going to go down further and a recession is coming. Should I sell to cash and ride this out?""What are you doing in my portfolio right now?""How much further is the market going to go down?"And more!

Gabriel and Steve kick off today's episode by discussing some of the issues that are plaguing the markets right now. Then they cover some things you might be wasting money on, and wrap up by answering a couple "get to know you" questions!We're Living in Turbulent Times:Two things you need to do when investing in the stock marketHow to successfully navigate the persistent volatility we're experiencingIs this the same old story we've heard before?What is causing this market volatility?7 Things You're Wasting Money On:Recapping an article we found online, we're sharing things that you might be wasting money on that can really add up over timeWays to spot these extra costs and cut them outGetting to Know Steve and Gabriel:Would you rather have only green lights for the rest of your life, or never have to wait in line ever again?What is your cure for the hiccups?

We've got another great episode of the Our 2 Cents podcast for you this week! Gabriel and Steve are sharing parallels between heathy eating and financial planning. Then they cover some financial terms and their meaning, before wrapping up with a listener question.Fixing Unhealthy Financial Habits:What are the empty calories that could be in your financial plan.How added sugar in your plan could be really bad.What should you have in your "pantry" and why it's important to know what you do and don't have.Why trans fats are so tempting, but might be unhealthy to have in your financial plan just like your diet.How to determine if you have a healthy plan.Breaking Down Financial Terms:VolatilityDiversificationCapital Gain and Capital LossListener Question:"There's been a lot of media coverage lately on the inverted yield curve. What does that mean? When it occurs do you suggest any client action as media coverage usually mentions it has often preceded recession periods?" - Je

On this week's new episode of the Our 2 Cents podcast, the guys are recapping Steve's recent appearance on WGN 9 news where he shared helpful tips for tax filing procrastinators. Then they outline 5 useful ways to include life insurance in your financial planning that isn't just about the death benefit. Listen in now!The Looming Tax Filing Deadline:Filing an extension - why it matters if you owe or if you are getting a refund.What you need to know now if you plan to use MyTax Illinois to file your state tax return.For those who took advantage of the child tax credit payments, how might that impact your taxes?Why your large refund is the same as giving an interest-free loan to the government.How tax planning is different from tax preparation, and how it can make a huge difference in your overall wealth.The Many Uses of Life Insurance:There are tons of misconceptions about what life insurance can offer in financial planning, which means many investors don't think about it outside of its trad

Breaking down a recent USA Today article, on today's episode Steve and Gabriel are discussing issues that are increasing the difficulty in retirement planning. They also talk about the current state of the bond market and share some great getaways across the U.S.!Murky Issues in Retirement Planning:How much income or asset growth is needed to offset inflation?How much income will Social Security provide in retirement?What is an ideal, or safe, withdrawal rate?Challenges Investors are Facing in the Sliding Bond Market:Quarter-end bond statements might be surprising to many investors, as the bond market has experienced its worst performance in recent memory.What options exist for you? Should you look into replacing your bonds, or ride out the storm in anticipation of a rebound?What about that extra cash that you may have otherwise put into bonds, what bond-alternatives can you explore?Adventure Ideas - Day Trips Near Big Cities:New York, Atlanta, Los Angeles and more! We're sharing some unique and adv

Spring training is top-of-mind on today's episode of Our 2 Cents! Sit back and enjoy the baseball analogies for thinking about your investments. Next, the guys jump into some listener questions and then there's another question to get to know Steve and Gabe at the end of the show!How to Plan Your Retirement Like a Game of Baseball:Should your lineup consist of only home run hitters, or is playing "small ball" the real way to win?How can you pick hitters that can handle the curveballs and fastballs that may come your way?The "Moneyball" approach to building your team - data, research, & analyticsIn baseball, five-tool players possess five specific skill sets. In investing, it's impossible for one single investment to cover all five core priorities. We'll share how to build an all-star lineup to cover them all.Listener Questions:"I've got all my money in all tax-deferred IRAs and 401(k)s, should I move some of it somewhere else to be more diversified?"

Welcome back for another episode of Our 2 Cents. Steve and Gabriel jump right in by talking about some hidden voices you may have in your head that influence your money decisions. Then they cover the world of designations and credentials and how to detect which are important. They wrap up with a fun question, too! Listen in now!The "Money Voices" in Your Head:How are we influenced by the "money voices" in our heads without realizing it?The two main voices: Greed and Fear, and how they drive our decisions.What can you do to silence the voices and listen to the facts instead?Advisor Alphabet Soup:What are all those letters at the end of advisors' name?Which designations have more weight than others?Experience vs. education—which is more important?Getting to Know Steve and Gabriel:"What is something that you do that makes you feel old?"

On today's podcast episode, Steve and Gabriel begin by discussing the Russia-Ukraine conflict's impact on the stock market and economy. Then they share some hidden biases that cost investors money and how to spot them within yourself. Last, they wrap up with a thought-provoking question from one of Gabriel's clients.The Market Reacts to the Russia-Ukraine Crisis:Broadly speaking, what might the overall impact on the markets be in light of the current Russian invasion of Ukraine?Gas prices and inflation are already on the rise - what can we expect next?The S&P 500 has already entered into correction territory, what needs to happen for us to see a Bear market?Are Your Money Biases Costing You?:There are 4 main money biases: Present bias, loss aversion, overconfidence & base rate neglectHidden biases affect the money decisions you make, without you even knowing itOver 98 percent of study participants exhibited biases that cost them financially. So, how can you identify money biases within