This week's blogpost - https://bahnsen.co/4gJS8OT

Navigating Big Decisions: Frameworks for Financial Planning

In this episode of the Thoughts on Money podcast, host Trevor Cummings, along with Sean Latimer and Blaine Carver, discusses strategies for tackling big life decisions and financial planning. They explore the concept of breaking down overwhelming tasks into manageable steps, using a humorous anecdote about choosing schools for their children and buying a conversion van. The conversation delves into the importance of having a decision-making framework, the paradox of choice, and the key pillars of selecting a financial advisor—advice, custodian, strategy, and plan. They emphasize the significance of long-term relationships, likability, trustworthiness, and the balance between personal rapport and measurable financial benefits.

00:00 Welcome to the Thoughts on Money Podcast

00:21 The Elephant in the Room: Tackling Big Decisions

00:49 School Choices: Private vs. Public

03:05 The Paradox of Choice

06:20 Choosing the Right Financial Advisor

14:17 The Importance of Custodians in Financial Planning

19:01 Cybersecurity and Custodian Competition

19:52 Challenges with Smaller Custodians

21:41 Choosing the Right Financial Advisor

22:03 Understanding Investment Strategies

26:08 The Importance of Financial Planning

36:27 Balancing Rapport and Substance in Client Meetings

37:46 Conclusion and Contact Information

Links mentioned in this episode:

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

This week's blogpost - https://bahnsen.co/3Xw16Gr

Navigating Financial Media Hype and Sensationalism

In this episode of the Thoughts on Money (TOM) podcast, host Trevor Cummings, along with Sean Latimer and Blaine Carver, delve into the impact of sensationalism in financial media. They discuss a particular article titled 'You've Got to be Kidding Me,' examining why sensational headlines attract more reader engagement. The conversation covers topics such as market volatility, the unpredictability of stock movements, and the dangers of reacting to short-term market trends. They also emphasize the importance of long-term investing, the psychological traps investors can fall into, and the role of an investment advisor. The episode wraps up with humorous anecdotes and reflections on disciplined investment strategies.

00:00 Welcome to the Thoughts on Money Podcast

00:16 The Most Popular Article

01:52 Sensationalism in Financial Media

03:47 Market Reactions and Investor Behavior

06:24 The Role of the Fed and Social Media

09:25 Investment Strategies and Market Trends

16:22 Evaluating Financial Advisors: Key Qualities to Look For

17:01 The Importance of Low Turnover and Long-Term Investments

18:09 Understanding the Omikase Approach in Financial Advising

19:39 The Pitfalls of Style Box Investing

21:34 Finding Your Edge as an Investor

22:45 The Power of Optimism in Long-Term Investing

28:09 Avoiding Big Mistakes in Financial Planning

30:49 Final Thoughts and Listener Engagement

Links mentioned in this episode:

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

This week's blogpost - https://bahnsen.co/4d9Z1FY

Mastering Dollar Cost Averaging: Soccer Strategies for Smarter Investments

In this episode of the Thoughts on Money Podcast, hosts Trevor Cummings and Blaine Carver discuss the importance of dollar cost averaging (DCA) as an investment strategy. Blaine shares an engaging analogy comparing DCA to soccer strategies, specifically the buildup approach and counterattack method, which helps simplify the concept for listeners. The conversation covers the benefits of DCA, addressing market volatility, and how it can help hesitant investors commit to a systematic investment process. The episode also touches on the pitfalls of market timing and the necessity for diversifying investments.

00:00 Introduction to the Podcast

00:38 Blaine Carver's Article and Soccer Analogy

08:13 Dollar Cost Averaging Explained

14:00 Lump Sum vs. Dollar Cost Averaging

18:04 Psychological Aspects of Investing

27:36 Final Thoughts and Advice

31:01 Conclusion and Contact Information

Links mentioned in this episode:

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