This week's blogpost - https://bahnsen.co/49AK0NH

In this episode of the Thoughts On Money Podcast, host Trevor Cummings, along with guests Blaine Carver and Brett Bonecutter, delve into the intricacies of making financial decisions. They explore the importance of challenging assumptions, understanding biases, and considering second-order effects when making seemingly simple financial choices, such as funding a 401k plan. The episode emphasizes the benefits of consulting financial advisors to navigate complex financial landscapes and highlights the need for a holistic approach to financial planning.

00:00 Welcome to the Thoughts On Money Podcast

00:03 Introducing the Hosts and Special Guests

00:46 The Nuances of Financial Decisions

01:27 Challenging Simple Financial Assumptions

01:44 Psychological Insights into Financial Decisions

03:09 The Role of Assumptions in Financial Planning

08:08 Behavioral Economics and Financial Decision-Making

09:59 The Impact of Inheritance on Financial Behavior

14:09 The Importance of Second Order Effects

19:10 Understanding Tax Implications in Retirement

20:00 The Fork in the Road: Financial Planning Decisions

20:28 401k vs. Taxable Investment Accounts

22:27 Tax Diversification Strategies

25:25 The Complexity of Financial Advice

30:26 The Importance of a Financial Team

37:07 Final Thoughts and Listener Engagement

Links mentioned in this episode:

• http://thoughtsonmoney.com
• http://thebahnsengroup.com

This week's blogpost - https://bahnsen.co/4szAiUr

Decoding 'The Fourth Turning': Understanding Generational Cycles and Their Impact on Investment Philosophy

In this episode of the 'Thoughts on Money' Podcast, hosted by Trevor Cummings and featuring guest Brett Bonecutter, the duo delves into the book 'The Fourth Turning: An American Prophecy' by William Strauss and Neil Howe. They explore its generational theories and cyclical view of history, which posits that every 80-100 years, society undergoes a significant transformation. By breaking down the book’s framework and its predicted

00:00 Introduction and Host Welcome

00:18 Guest Introduction: Brett Bonecutter

01:08 Book Review: The Fourth Turning

02:17 Understanding Worldviews and Narratives

07:40 Historical Philosophies and Investment Implications

14:41 Generational Cycles and The Fourth Turning

18:10 Current Generations and Crisis Predictions

24:04 Exploring Fascinating Quotes

25:28 The Fourth Turning Predictions

26:45 Reflecting on Y2K and Similar Events

29:15 Philosophical Worldviews and Fear

33:53 Investment Strategies and Human Nature

39:46 Concluding Thoughts and Future Outlook

Links mentioned in this episode:

• http://thoughtsonmoney.com
• http://thebahnsengroup.com

This week's blogpost - https://bahnsen.co/48ZUDcG

The Importance of Embracing Boredom

In this episode of the Thoughts and Money Podcast, host Trevor Cummings and guest Blaine Carver discuss the insights from Blaine's recent blog article titled 'You Need to Be Bored.' They explore how constant stimulation from technology can detract from addressing meaningful, big-picture financial questions, and how creating moments of boredom can lead to better financial decisions. The conversation also covers the pitfalls of making impulsive investment decisions and highlights the importance of having a structured financial plan. Additionally, they touch on the need for prioritizing high-importance and high-urgency financial tasks over less impactful activities. The hosts share their personal experiences with managing boredom and financial stress, emphasizing the value of focusing on long-term planning. They also reflect on how market distractions can lead to suboptimal investment behaviors and the cultural difficulty of being bored in today's fast-paced, tech-driven world.

00:00 Welcome to the Thoughts and Money Podcast

00:16 The Importance of Boredom

00:57 Arthur Brooks' Influence

02:39 Cultural Challenges with Boredom

03:34 Investment Behavior and Boredom

04:35 The Impact of Technology on Investing

05:23 The Role of Boredom in Creativity

06:51 The Psychology of Investing

10:54 The Value of Long-Term Investment Strategies

18:27 Micro vs. Macro Financial Planning

19:28 Prioritizing Financial Decisions

21:06 The Importance of Addressing Major Financial Issues

24:00 Balancing Urgency and Importance

25:52 Creating a Comprehensive Financial Plan

29:11 The Role of Boredom in Financial Planning

33:08 Avoiding Financial Distractions

39:03 Final Thoughts and Holiday Wishes

Links mentioned in this episode:

• http://thoughtsonmoney.com
• http://thebahnsengroup.com

This week's blogpost - https://bahnsen.co/3XPJNko

Finding Wisdom in the Age of Artificial Intelligence: Navigating Investing, Emotions, and Technology

In this episode of the Thoughts and Money Podcast, host Trevor Cummings and co-host Blaine Carver delve into the implications of artificial intelligence on the stock market and broader economy. Cummings, who authored a blog post titled 'Looking for Wisdom in a World of Artificial Intelligence,' discusses the importance of emotional intelligence (EQ) over IQ in investing, sharing insights on avoiding emotionally driven bad decisions. The discussion covers the risks and rewards of contrarian investing, emphasizing that being right is crucial, and the importance of wisdom and experience in financial planning. The episode concludes by exploring how AI can enhance, but not replace, the essential human element in financial advising and decision-making.

00:00 Introduction to the Thoughts and Money Podcast

00:17 The Rise of Artificial Intelligence in 2025

02:49 The Importance of Temperament in Investing

12:12 Contrarian Investing: Being Right Matters

20:12 The Both-And Philosophy at The Bahnsen Group

22:03 Embracing Technology with Timeless Wisdom

28:31 Conclusion and Listener Engagement

Links mentioned in this episode:

• http://thoughtsonmoney.com
• http://thebahnsengroup.com

This week's blogpost - https://bahnsen.co/48y6UVz

Understanding Credit Scores: A Personal Journey and Practical Advice

In this episode of the Thoughts on Money Podcast, host Trevor Cummings and guest Blaine Carver explore the intricacies of credit scores. Trevor shares a personal story about discovering the complexities of credit scores when purchasing a second home. The discussion covers the surprising statistic that the average age of first-time home buyers is now 40, up from 28 in 1991. The episode delves into the various factors that impact credit scores, including payment history, derogatory marks, credit age, total accounts, hard inquiries, and credit usage. Practical advice is given on managing credit, highlighting the importance of being proactive in monitoring and optimizing one's credit score for better mortgage rates. This episode aims to educate listeners on the importance of credit scores and offers actionable tips to improve them.

00:00 Welcome to the Thoughts on Money Podcast

00:31 The Rising Age of First-Time Home Buyers

03:04 Understanding Credit Scores

06:45 The Importance of Credit Usage

07:12 A Personal Story: Buying a Second Home

11:46 Strategies to Improve Your Credit Score

17:31 The Impact of Simplicity on Credit Scores

18:33 Strategies to Increase Your Credit Limit

19:01 Understanding Credit History and Its Effects

20:33 The Importance of Monitoring Your Credit

21:31 Key Factors That Influence Your Credit Score

21:58 Real-Life Credit Score Challenges and Solutions

23:16 Proactive Steps to Improve Your Credit Score

25:38 The Role of Credit Mix and Total Accounts

29:50 Final Thoughts on Credit Scores and Home Buying

Links mentioned in this episode:

• http://thoughtsonmoney.com
• http://thebahnsengroup.com

This week's blogpost - https://bahnsen.co/4og2etf

Understanding the Kyle Busch vs. Pacific Life Insurance Controversy

In this episode of the Thoughts On Money Podcast (Tom), host Blaine Carver, joined by Sarah Leitzke, The Bahnsen Group’s Director of Risk, discusses Kyle Busch's lawsuit against Pacific Life. The conversation covers the roles and importance of life insurance, how it can be both beneficial and detrimental, and the complexities involved in different types of life insurance policies. Sarah elaborates on the mismanagement and misleading marketing in the Busch case, highlighting issues such as unpaid premiums, policy lapses, and the consequences of an improperly managed Indexed Universal Life (IUL) policy. The episode encourages listeners to carefully examine financial advice, consider the qualifications of their advisors, and understand the intricate details of their insurance policies.

00:00 Welcome to the Thoughts On Money Podcast

00:09 Meet the Hosts: Blaine and Sarah

00:47 Understanding the Role of Director of Risk

01:46 Kyle Busch vs. Pacific Life: An Overview

02:06 The Metaphor of Insurance: Tools for Good or Harm

04:23 Breaking Down the Kyle Busch Case

07:26 Marketing and Mismanagement in Insurance

11:06 Term vs. Permanent Insurance: Key Differences

17:18 The Impact of Employment on Insurance Premiums

21:00 The Importance of Trustworthy Advice

29:24 Inside The Bahnsen Group's Risk Department

33:14 Final Thoughts and Takeaways

Links mentioned in this episode:

• http://thoughtsonmoney.com
• http://thebahnsengroup.com

This week's blogpost - https://bahnsen.co/47EvNQc

Navigating Long-Term Care: Get It or Forget It?

In this episode of the Thoughts and Money Podcast, hosts Trevor Cummings and Blaine Carver dive into the complexities of long-term care insurance. They discuss the increasing relevance of long-term care conversations among younger clients, especially those in their late forties and fifties. They explore the financial and emotional considerations of securing long-term care insurance, the impact of healthcare costs, and how these decisions affect a comprehensive financial plan. The episode also covers the evolution of long-term care policies, the pitfalls of older policies, and the importance of proactive planning. Whether self-insured or seeking coverage, understanding the nuances of long-term care can help mitigate future financial risks.

00:00 Introduction to the Podcast

00:16 Inspiration Behind the Article

01:12 The Sandwich Generation

02:13 Insurance and Risk Management

03:57 The Reality of Long-Term Care

06:46 Challenges with Long-Term Care Insurance

10:20 Hybrid Insurance Policies

13:45 Statistics and Financial Planning

17:22 Understanding Self-Insurance

18:28 Gender Differences in Long-Term Care

19:16 The Importance of Financial Planning

21:02 Personal Experiences with Long-Term Care

23:38 Risk Management and Insurance

27:13 Asset Allocation and Long-Term Care

32:35 Concluding Thoughts and Recommendations

Links mentioned in this episode:

• http://thoughtsonmoney.com
• http://thebahnsengroup.com

This week's blogpost - https://bahnsen.co/48Xhibo

Mastering Year-End Financial Planning: Contributions, Tax Strategies, and Generosity

In this episode of the Thoughts on Money Podcast, hosts Trevor Cummings and Sean Ullrich dive into year-end financial planning strategies. They discuss the importance of being proactive with financial and tax planning as the year closes, including various Roth IRA strategies, tax planning measures, and charitable giving options. Trevor and Sean highlight the necessity of preparing for the end of the year well in advance to avoid bottlenecks and maximize benefits. Additionally, they emphasize proper portfolio management, especially given recent strong market performance, and encourage reviewing previous tax returns for further planning insights. From maximizing 401k contributions to exploring donor-advised funds, they offer listeners actionable advice to improve their financial standing while concluding the year on a generous note.

00:00 Introduction and Guest Introduction

00:53 Discussing the Importance of Proactive Financial Planning

02:03 Analogies Between Sports and Financial Planning

04:25 Key Financial Planning Strategies

14:20 Tax Planning Insights and Strategies

27:15 Charitable Giving Strategies

34:11 Investment Strategy and Market Performance

39:21 Conclusion and Listener Engagement

Links mentioned in this episode:

• http://thoughtsonmoney.com
• http://thebahnsengroup.com