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| Titre | Date | Durée | |
|---|---|---|---|
| Questions Aplenty | 03 Apr 2026 | 00:25:28 | |
This Q&A episode tackles a mix of practical retirement and investing questions, starting with why spousal Social Security benefits rarely change the core advice to delay claiming. Don explains the limits of basic retirement calculators versus more robust planning tools, then reassures a late-starting saver that simple, low-cost investing (like target-date funds) often beats complexity. A listener’s story about $242 stock commissions leads into a blunt reality check on day trading (spoiler: still a losing game), while another question explores how and when to share wealth details with adult children. The episode wraps with a clear affirmation of total-market investing—and a striking demo of AI audio cleanup that turns an unusable question into something crystal clear. 0:11 Intro to Q&A format and how listeners submit questions 1:32 Social Security spousal benefits and why they rarely change the “delay” strategy 4:13 What to look for in retirement calculators (and best free options) 6:43 Late-start saver with pension: Roth strategy and keeping investing simple 10:58 $242 commissions and the fall of high-cost brokerage trading 12:00 Day trading reality: why most lose (and why firms loved it) 14:57 Sharing wealth details with adult children and choosing a financial “leader” 18:00 AI audio enhancement demo—bad recording vs. cleaned version 19:06 Total market investing: owning everything vs. chasing winners 22:22 Wrap-up and advisor offer | |||
| Yield Trap | 02 Apr 2026 | 00:29:51 | |
This episode opens with a blistering takedown of sensationalized financial media, using a Kiplinger income piece as the latest example of how risky, high-fee junk bond products get dressed up as safe income solutions for yield-hungry investors. Don and Tom explain why bonds are supposed to provide stability, not speculative upside, and why chasing eye-popping payouts usually means swallowing hidden risk, ugly expenses, and stock-like volatility. They then pivot to listener questions on building a teen’s Roth IRA, whether Avantis or Dimensional funds make more sense than Vanguard for a small/value tilt, and why their website still shows mutual funds more prominently than ETFs, before wrapping with some loose studio banter and a reminder to send questions through TalkingRealMoney.com. 0:04 Rant on terrible financial advice and declining media trust 0:24 Criticism of Kiplinger and “investment porn” content 1:08 Concerns about newsletter-driven incentives 2:35 Warning against using short-term returns 4:13 Breakdown of Nuveen Multi-Asset Income Fund and unrealistic yield claims 5:08 Junk bond exposure and credit risk explained 6:18 Expense shock: 0.03% vs 3.38% 7:18 High yields = high risk reality 8:01 “Safe income” claim debunked 8:57 Collapse risk in downturns 9:37 Core principle: risk and return are linked 10:38 Fed/yield curve speculation criticism 10:56 Purpose of bonds: stability vs yield 11:27 Bonds as capital preservation, not return drivers 12:05 Example of high-cost junk bond ETF 12:12 Fewer trustworthy financial sources 13:16 Stop consuming financial media noise 13:38 Do something better with your time 14:32 Listener: teen Roth IRA strategy 16:33 Recommendation: AVGV single-fund approach 17:40 Fund-of-funds diversification explained 18:38 Listener: Vanguard vs Dimensional Fund Advisors / Avantis 19:45 Case for small/value tilt 21:59 Listener: ETF vs mutual fund inconsistency 24:12 Simple portfolio: DFAW / AVGE + BND 25:11 Studio banter and mic technique Learn more about your ad choices. Visit megaphone.fm/adchoices | |||
| Fewer Q Friday | 20 Mar 2026 | 00:20:26 | |
Don fields listener questions on asset allocation, advisor timing, and investing complexity with his usual bias toward simplicity and self-awareness. He emphasizes that the decision to add bonds isn’t about age but about emotional tolerance for loss, shares his own shift to a more conservative 55/45 portfolio, dismisses futures markets as largely speculative noise for most investors, and advises a listener nearing retirement that while there’s no urgency to hire an advisor, the value of planning—especially around taxes and income strategy—becomes increasingly important in the early 60s. 0:04 Thunderstorm intro and Q&A format setup 1:37 100% stock portfolio—when (and how) to add bonds 5:47 Don’s personal portfolio breakdown and evolution 10:25 Futures markets explained (and why to ignore them) 13:00 When to hire a financial advisor approaching retirement Learn more about your ad choices. Visit megaphone.fm/adchoices | |||
| Leverage Dangers | 06 Nov 2025 | 00:27:38 | |
Don and Tom take listeners on a wild ride through the booming (and frequently disastrous) world of leveraged ETFs. They break down how these funds promise double or triple the excitement but mathematically bleed away returns through volatility decay. A few listener questions follow, covering retirement cash buffers, negotiating advisory fees on large portfolios, and comparing IRTR vs AOM for a near-retiree allocation. Humor, subtle self-mockery, a Jonas Brothers detour, and a reminder that gambling is not investing. 0:04 Opening banter and the thrill-seeker pitch for leveraged ETFs 1:29 Leveraged single-stock ETFs explode from zero to $40B 3:26 MicroStrategy example: stock up ~30%, 2x ETF down ~65% 5:03 How volatility decay quietly destroys leveraged returns 7:36 5x ETFs and the “go to zero in one day” problem 9:01 When leverage stops being “investing” and starts being gambling 11:38 Listener question: Should retirees hold a bigger cash buffer to avoid selling in downturns? 14:37 Listener question: Should a $4M managed client negotiate fees? (Yes.) 17:43 IRTR vs AOM comparison for someone three years from retirement 22:54 Seasonal weather rant and hunkering down for productivity Learn more about your ad choices. Visit megaphone.fm/adchoices | |||
| Don's Big Q&A Day | 11 Feb 2022 | 00:29:09 | |
Wow! Six questions in one podcast. Learn more about your ad choices. Visit megaphone.fm/adchoices | |||
| Self-Regulation Oxymoronic | 10 Feb 2022 | 00:27:18 | |
Can an industry actually protect consumers from itself? Learn more about your ad choices. Visit megaphone.fm/adchoices | |||
| Congress, Stocks, and You | 09 Feb 2022 | 00:24:41 | |
There is one lesson for everyone from Congress. Learn more about your ad choices. Visit megaphone.fm/adchoices | |||
| Blockchain Blockheads | 08 Feb 2022 | 00:37:06 | |
Crypto insanity is reaching new levels of stupidity. Learn more about your ad choices. Visit megaphone.fm/adchoices | |||
| No Solo Stocks | 07 Feb 2022 | 00:36:07 | |
Trying to pick individual stocks can be dangerous. Learn more about your ad choices. Visit megaphone.fm/adchoices | |||
| 5.12.17 – Real College Investing | 06 Feb 2022 | 01:06:35 | |
Another old show from 2017 Learn more about your ad choices. Visit megaphone.fm/adchoices | |||
| 5.9.17 – Do You Really Believe...? | 05 Feb 2022 | 01:05:34 | |
Here's more from the past. Learn more about your ad choices. Visit megaphone.fm/adchoices | |||
| Another Big Q&A Day | 04 Feb 2022 | 00:31:10 | |
Don takes on seven of your questions. Learn more about your ad choices. Visit megaphone.fm/adchoices | |||
| Buying the Robots | 03 Feb 2022 | 00:31:17 | |
An odd mix: Full-service brokers and robo-advisors. Learn more about your ad choices. Visit megaphone.fm/adchoices | |||
| Ignoring the Facts | 02 Feb 2022 | 00:29:46 | |
Many tell you what you want to hear. Learn more about your ad choices. Visit megaphone.fm/adchoices | |||
| Most Investors Fail | 05 Nov 2025 | 00:41:18 | |
Don and Tom tackle the universal truths of investing — namely, that most investors underperform the market due to their own behavior. They discuss the persistence of emotional decision-making, the dangers of market timing, and the importance of diversification and sticking to a plan. Listener calls cover UGMA accounts, bond allocation in IRAs, downsizing for assisted living, robo-investing, annuities, and advisor ethics. The show mixes data-driven insight with classic Real Money humor and real-world financial guidance. 0:04 Universal truths of investing and investor behavior 2:07 Why investors underperform their own funds (Morningstar “Mind the Gap”) 3:30 Market sentiment, cash levels, and memories of 2000 and 2008 4:31 Peter Lynch on market corrections and investor overconfidence 5:40 The danger of timing the market and trusting stocks too much 6:40 “Financial Flinch Reflex” parody PSA (Appella Wealth ad) 7:41 Listener: diversifying a Vanguard UGMA for grandson’s education 12:14 Listener: TSP rollover, age-based bond allocation, and risk tolerance 14:40 The right asset mix for long-term investors in their 40s 15:48 Listener: selling condo for assisted living — planning for late-life care 18:45 Spending vs. inheritance — why it’s okay to use your own money 20:27 Producer’s question: is SoFi robo-investing safe for beginners? 22:56 Emergency funds vs. long-term investing; debt priorities 26:03 Listener: spouse investing in individual stocks — handling differences 28:32 Listener: total market vs. S&P 500 core fund; AVGE and DFAW explained 30:17 Listener: 8% annuity “crediting rate” myth and why it’s misleading 35:42 Real internal rate of return on annuities and risk comfort 37:12 Listener: following advisor from Ameriprise to a bank — fiduciary warning 39:36 Why commissioned products persist and how fiduciary rules differ Learn more about your ad choices. Visit megaphone.fm/adchoices | |||
| Over Stocked? | 01 Feb 2022 | 00:36:20 | |
Are you too heavily invested in stocks. Learn more about your ad choices. Visit megaphone.fm/adchoices | |||
| Quit Portfolio Peeking | 31 Jan 2022 | 00:36:53 | |
Close your eyes during trying times. Learn more about your ad choices. Visit megaphone.fm/adchoices | |||
| 5.26.17 – Questions from Classes | 30 Jan 2022 | 01:07:54 | |
An episode tucked away sine 2017 Learn more about your ad choices. Visit megaphone.fm/adchoices | |||
| 6.2.17 – Advisor a Fiduciary? | 29 Jan 2022 | 00:22:34 | |
Here's another archived episode from 2017 Learn more about your ad choices. Visit megaphone.fm/adchoices | |||
| Another Day of Q&A | 28 Jan 2022 | 00:25:46 | |
You have questions. Don has answers. Learn more about your ad choices. Visit megaphone.fm/adchoices | |||
| Avoid Portfolio Panic | 27 Jan 2022 | 00:24:38 | |
Wade Pfau is not an unbiased source of financial advice. Learn more about your ad choices. Visit megaphone.fm/adchoices | |||
| Crypto to Zero? | 26 Jan 2022 | 00:21:56 | |
How low can crypto go? Learn more about your ad choices. Visit megaphone.fm/adchoices | |||
| Dumb "Smart" Money | 25 Jan 2022 | 00:36:59 | |
Wall Street hopes you know the future. Learn more about your ad choices. Visit megaphone.fm/adchoices | |||
| Vanguard's Big, Bad Surprise | 24 Jan 2022 | 00:37:05 | |
An example of the dark side of regular mutual funds Learn more about your ad choices. Visit megaphone.fm/adchoices | |||
| 6.2.17 – You Charge How Much?! | 23 Jan 2022 | 00:24:58 | |
An episode from the vault. Learn more about your ad choices. Visit megaphone.fm/adchoices | |||
| Take More Risk? | 04 Nov 2025 | 00:40:56 | |
Don and Tom tackle the timeless question: why do you invest? They challenge the “TINA” mindset (“There Is No Alternative”) and dissect new research claiming retirement savers should own no bonds at all. They argue that while stocks outperform over long stretches, bonds remain essential for emotional stability and survival during market crashes. Listeners join in with sharp questions about CD ladder withdrawal strategies, crypto-based dividend schemes, securities lending, and international ETF allocation. The show wraps with a skeptical look at Vanguard’s growing tilt toward active management and new global funds from Avantis. 0:04 Why do you invest? Defining purpose versus chasing returns 1:29 The rise of “TINA investing” — there is no alternative to stocks? 2:30 Bonds as shock absorbers when markets collapse 3:57 Questioning global overweights in new stock research 5:01 The emotional toll of chasing maximum returns 6:12 Bonds’ true role: keeping investors calm and consistent 7:50 Zweig’s conclusion — even he still owns bonds 9:06 Retirement timing risk and the case for diversification 10:29 Caller Jay from Georgia — testing a five-year CD ladder withdrawal plan 12:34 Turning the CD ladder into part of a bond portfolio 13:46 What to do with the ladder during a market downturn 14:47 Caller Jason from Washington — Elon Musk, Bitcoin, and the “Strike/Strive” gimmick 15:49 The math behind high-yield crypto preferreds doesn’t add up 17:18 When hype meets hazard: Ponzi parallels in risky yields 18:57 Why “everyone’s doing it” isn’t a defense for bad strategy 20:04 Why MicroStrategy’s dividend promises defy logic 21:15 Listener question — securities lending in IRAs 23:09 How stock lending actually works (and why it barely pays) 24:18 Why most small investors shouldn’t bother 27:15 Vanguard’s new identity crisis: the push into active management 27:47 The profitability problem of index funds 28:53 Can Vanguard’s active funds really beat their benchmarks? 31:48 Why past performance still fails as a predictor 33:14 Vanguard’s crypto flirtation and industry pandering 35:43 Caller Craig from Seattle — expanding global exposure with AVNV 36:32 The case for adding Avantis International Value ETF 37:46 Early results and long-term expectations Learn more about your ad choices. Visit megaphone.fm/adchoices | |||
| 6.2.17 – Find the Fees | 22 Jan 2022 | 00:18:50 | |
Another archived episode from 2017. Learn more about your ad choices. Visit megaphone.fm/adchoices | |||
| Down Day Q&A | 21 Jan 2022 | 00:29:09 | |
Bad week for stocks, good one for your questions. Learn more about your ad choices. Visit megaphone.fm/adchoices | |||
| Ignore Future Guesses | 20 Jan 2022 | 00:28:10 | |
Why prepare for predictions that may be wrong? Learn more about your ad choices. Visit megaphone.fm/adchoices | |||
| Stock Go Up More | 20 Jan 2022 | 00:35:09 | |
It doesn't matter if you buy at the top. Learn more about your ad choices. Visit megaphone.fm/adchoices | |||
| Bonds Went Down! | 19 Jan 2022 | 00:23:03 | |
Why should you own bonds? Learn more about your ad choices. Visit megaphone.fm/adchoices | |||
| An Overloaded ETF Goes Down | 17 Jan 2022 | 00:36:31 | |
ARK took on too much money. Learn more about your ad choices. Visit megaphone.fm/adchoices | |||
| 6.9.17 – What, Tom Arrogant? | 15 Jan 2022 | 00:25:36 | |
Here's another blast from the past. Learn more about your ad choices. Visit megaphone.fm/adchoices | |||
| Don Loves Questions | 14 Jan 2022 | 00:32:21 | |
We have some great questions and asnwers for you. Learn more about your ad choices. Visit megaphone.fm/adchoices | |||
| Query Catch-Up | 13 Jan 2022 | 00:27:20 | |
Questions and a curious coincidence. Learn more about your ad choices. Visit megaphone.fm/adchoices | |||
| Missing the Real Target | 12 Jan 2022 | 00:23:35 | |
Are target-date funds suitable for everyone? Learn more about your ad choices. Visit megaphone.fm/adchoices | |||
| Experts Need Experts | 03 Nov 2025 | 00:28:54 | |
Don and Tom unpack why even smart, financially literate people sometimes need a financial advisor — prompted by Morningstar’s Christine Benz explaining why she hires one. They explore the value of second opinions, professional organization, tax guidance, spending permission, and succession planning. The conversation also draws lines around who doesn’t need an advisor (DIY investors under 50 with good discipline) versus who does (retirees, disorganized investors, and anyone over 65 facing complexity). Later, they tackle listener questions about small-cap value ETFs — comparing AVUV, DFSV, and SLYV — and close with a retirement scenario review for a disciplined 77-year-old federal retiree. A lighthearted finish touches on long-term care insurance, empty nesting, and the Raiders’ black hole stadium. 0:04 Reintroducing the need for financial help (but not that kind of help) 1:17 Christine Benz’s surprising admission: she has a financial planner 2:27 The value of a “responsible second opinion” 3:25 Why Benz says peace of mind has real value 3:50 Reasons to hire an advisor: second opinions, tax guidance, rebalancing, perspective 4:54 When hourly financial advice makes sense 6:38 Organization and accountability as hidden benefits 8:08 The disinterested spouse problem 8:40 Why succession planning matters more than you think 9:32 “Permission to spend” — an underrated role of advisors 10:19 Who doesn’t need an advisor: young savers and disciplined investors 11:27 When to get a second opinion even if you’re DIY 12:18 Spotting bad advice and hidden annuities 13:03 Who does need an advisor: hodgepodge portfolios and over-50 investors 14:09 Complexity and the need for help beyond 65 14:47 The problem of small investors being preyed upon by salespeople 15:52 Listener question: adding small-cap value exposure 16:47 Comparing AVUV, DFSV, and SLYV performance and structure 19:00 Expense ratios and diversification differences 20:18 Don and Tom’s ETF verdict 21:10 Retirement checkup: 77-year-old with pension and LTC coverage 22:06 Evaluating liquidity, income, and survivorship 23:48 The vanishing quality of long-term care policies 24:56 Tom’s empty-nest plans and aching knee 25:43 Raiders jokes and the black-painted stadium Learn more about your ad choices. Visit megaphone.fm/adchoices | |||
| Bad Investing Habits | 11 Jan 2022 | 00:35:16 | |
Quit paying attention to the financial news Learn more about your ad choices. Visit megaphone.fm/adchoices | |||
| Financial Knowledge in Jeopardy | 10 Jan 2022 | 00:35:04 | |
A basic investing "answer" stumps the contestants. Learn more about your ad choices. Visit megaphone.fm/adchoices | |||
| 6.16.17 – Lying by Omission | 09 Jan 2022 | 00:23:00 | |
Another long forgotten episode from June 2017. Learn more about your ad choices. Visit megaphone.fm/adchoices | |||
| Don's Friday Quiz Show | 07 Jan 2022 | 00:34:38 | |
We've made it through the last of your 2021 questions. Learn more about your ad choices. Visit megaphone.fm/adchoices | |||
| An Extra Day of Q&A | 06 Jan 2022 | 00:21:45 | |
We attack our giant pile of listener questions. Learn more about your ad choices. Visit megaphone.fm/adchoices | |||
| The Case Against Gold | 05 Jan 2022 | 00:21:43 | |
No matter how you present it, gold is a bad investment. Learn more about your ad choices. Visit megaphone.fm/adchoices | |||
| Hope Springs Eternal | 04 Jan 2022 | 00:36:11 | |
Someday their predictions will come true. Learn more about your ad choices. Visit megaphone.fm/adchoices | |||
| Fear Foolishness | 03 Jan 2022 | 00:36:26 | |
The biggest problem facing investors is fear. Learn more about your ad choices. Visit megaphone.fm/adchoices | |||
| 6.9.17 – Life Insurance Truth | 02 Jan 2022 | 00:23:08 | |
We head back to June of 2017 again. Learn more about your ad choices. Visit megaphone.fm/adchoices | |||
| 6.9.17 – Are We Arrogant? | 01 Jan 2022 | 00:25:36 | |
Yet another archived show from June of 2017. Learn more about your ad choices. Visit megaphone.fm/adchoices | |||
| Halloween Qs | 31 Oct 2025 | 00:22:48 | |
Don answers a range of listener questions covering topics from Fidelity’s fully paid lending program to the Roth 401(k) decision and mortgage payoff strategies. He explains why stock lending rarely adds much value for ETF investors, why paying off a 2.6 percent mortgage makes little financial sense, and why even Berkshire Hathaway isn’t a substitute for true diversification. Listeners also learn about HSA payroll tax savings and how to build Roth flexibility without triggering the pro-rata rule. 0:04 Friday Q&A intro and listener invitation 1:25 Fidelity’s fully paid lending program explained—small returns, limited upside 3:47 When stock lending might make sense for rare or hard-to-borrow shares 4:33 Mortgage payoff debate—2.6% rate vs. 7% investing return 5:30 Don confirms: investing wins, emotion aside 7:09 Caller argues for Berkshire Hathaway B as the “perfect” one-stock portfolio 9:14 Don dismantles the myth—Buffett’s own warnings, risk concentration 11:23 401(k) vs. Roth 401(k)—how to decide and why a plan matters 14:04 Backdoor Roth options for self-employed spouses 15:32 Importance of long-term planning once portfolios near $1 million 15:56 HSA payroll advantage—no Social Security tax on contributions 17:11 Using a Roth to store “extra mortgage” money until retirement 18:08 Why paying off a low-rate mortgage later may not make sense 19:37 Free fiduciary portfolio checkup offer from Apella Wealth Learn more about your ad choices. Visit megaphone.fm/adchoices | |||
| 6.9.17 – Hiring a Robot | 31 Dec 2021 | 00:23:14 | |
An long unheard archived episode. Learn more about your ad choices. Visit megaphone.fm/adchoices | |||
| 6.16.17 – Not a True Fiduciary | 30 Dec 2021 | 00:24:10 | |
Another show from our 2017 archives. Learn more about your ad choices. Visit megaphone.fm/adchoices | |||
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