Episode 327 - How Ryan is funding his kid's college education
Beer & Money
In this episode, Ryan Burklo and Alex Collins discuss the intricacies of college planning, focusing on Ryan's personal experience with his daughter touring the University of Arizona. They explore various funding strategies for education, emphasizing the importance of flexibility in financial planning. The conversation also touches on navigating the FAFSA process, the emotional aspects of financial decisions, and the significance of seeking advice from knowledgeable sources. Check out our website: beerandmoney.net Find us on YouTube: https://www.youtube.com/@beerandmoney Subscribe to our...
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Episode 326 - Rules Around Inherited IRAs
Beer & Money
In this episode of Beer and Money, Ryan Burklo discusses the essential rules and obligations associated with inheriting an IRA. He explains the importance of understanding required minimum distributions (RMDs), the tax implications of withdrawals, and the necessary steps to set up an inherited IRA correctly. The conversation emphasizes the need for strategic financial planning and coordination with tax professionals to ensure compliance and optimize tax outcomes. Check out our website: beerandmoney.net Find us on YouTube: https://www.youtube.com/@beerandmoney Subscribe to our newsletter:...
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Episode 325 - 3 Takeaways from the Art of Spending Money
Beer & Money
In this episode of Beer and Money, Ryan Burklo discusses key takeaways from Morgan Housel's book, The Art of Spending Money. He emphasizes the importance of balancing spending and saving, minimizing future regrets, cherishing memories over material possessions, and the value of independent thinking in financial decisions. The conversation encourages listeners to reflect on their financial choices and align them with their personal values. Check out our website: beerandmoney.net Find us on YouTube: https://www.youtube.com/@beerandmoney Subscribe to our newsletter: Check out our...
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Episode 324 - Let's Get Real About Retirement
Beer & Money
In this episode of Beer & Money, Ryan Burklo discusses the critical aspects of retirement planning, emphasizing the importance of understanding income risks and market volatility. He explores strategies for managing retirement funds, including the necessity of having a diversified approach with different buckets of money to ensure financial stability throughout retirement. The conversation also delves into the real risks of outliving one's money and presents alternative strategies to mitigate these risks, ultimately guiding listeners on how to effectively plan for their financial future....
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Episode 323 - Safeguard your Wealth: A conversation with Rob Bukacek
Beer & Money
In this episode of Beer and Money, Ryan Burklo and Rob Bukacek delve into the intricacies of estate planning, focusing on a sample client with a $4 million estate. They discuss the importance of revocable living trusts, the avoidance of probate, and the management of assets to ensure they are passed on to heirs in a protected manner. The conversation also touches on the implications of spousal trusts, estate taxes, and strategies for safeguarding assets for future generations, emphasizing the need for careful planning to protect family wealth. Check out our website: beerandmoney.net Find...
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Episode 322 - The Rise of Alternative Strategies in Retirement Planning
Beer & Money
In this episode of Beer and Money, Ryan Burklo and Alex Collins discuss the integration of private equity and alternative assets into 401k plans. They explore the performance of endowments, the nature of private equity and private debt, and the associated risks. The conversation emphasizes the importance of understanding these investment options, the role of 401k plans in holding illiquid assets, and the need for informed decision-making to avoid chasing returns without proper knowledge. Check out our website: beerandmoney.net Find us on YouTube: https://www.youtube.com/@beerandmoney...
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Episode 321 - Tax Loss Harvesting
Beer & Money
In this episode of Beer and Money, Ryan Burklo discusses tax loss harvesting, a strategy to reduce taxes by selling investments that have lost value. He explains the mechanics of tax loss harvesting, its benefits, and the importance of working with financial professionals to align tax strategies with personal financial goals. Check out our website: beerandmoney.net Find us on YouTube: https://www.youtube.com/@beerandmoney Subscribe to our newsletter: https://www.quantifiedfinancial.com/subscribe-now For a quick assessment of your current financial life go to: #taxlossharvesting...
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Episode 320 - Let's Talk About Interest Rates
Beer & Money
In this episode of Beer and Money, Ryan Burklo and Alex Collins discuss the recent interest rate cuts by the Federal Reserve, exploring the implications for savings accounts and debt financing. They emphasize the importance of understanding market-based returns and cash flow when making financial decisions. The conversation also touches on the significance of individualized financial planning and the need for professional guidance in navigating these changes. Check out our website: beerandmoney.net Find us on YouTube: https://www.youtube.com/@beerandmoney Subscribe to our newsletter:...
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Episode 319 - 5 Questions to ask when interviewing a Financial Advisor
Beer & Money
In this episode of Beer and Money, Ryan Burklo discusses essential questions to ask when interviewing financial advisors. He emphasizes the importance of understanding personal goals and finding an advisor who aligns with those goals. The conversation covers key topics such as advisor compensation, services offered, and how to measure success in the client-advisor relationship. Ryan provides actionable insights to help listeners make informed decisions when selecting a financial advisor. #financialadvisor #questionstoask #personalfinance #wealthmanagement #client-advisorrelationship...
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Episode 318 - Small Thinking vs Big Thinking
Beer & Money
In this episode of Beer and Money, Ryan Burklo discusses the contrast between small thinking and big thinking in financial planning. He emphasizes the importance of focusing on larger financial goals rather than getting caught up in minor savings habits, such as cutting out small luxuries like Starbucks. By analyzing the impact of lifestyle choices on savings and the power of incremental changes, Ryan illustrates how a small adjustment in spending can lead to significant wealth accumulation over time. He encourages listeners to adopt a big picture mindset to enhance their financial well-being....
info_outlineIn this episode of Beer and Money, Ryan Burklo and Alex Collins discuss the three most common portfolio mistakes they encounter with clients. They emphasize the importance of understanding asset classes, avoiding over-concentration in US large stocks, and ensuring proper diversification to mitigate risks. The conversation highlights the significance of a balanced investment strategy and the need for clients to be aware of their portfolio's composition and associated risks.
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For a quick assessment of your current financial life go to: https://www.livingbalancesheet.com/lbsVision/lite/RyanBurklo
Takeaways
Clients often over-concentrate their investments in US large stocks.
Many investors are unaware of the overlap in their mutual funds.
Diversification is essential to manage risk effectively.
Understanding asset classes can lead to better investment decisions.
Investing should not be based solely on past performance.
Proper portfolio construction can enhance returns without increasing risk.
Clients often do not realize the risks associated with their portfolios.
The S&P 500 is heavily influenced by a few large tech companies.
Investors should look forward, not just at past performance.
A balanced portfolio is crucial for long-term success.
Chapters
00:00 Introduction to Common Portfolio Mistakes
02:19 Understanding Asset Classes and Concentration
09:55 The Dangers of Overlap in Investments
11:43 The Importance of Diversification
19:59 Navigating Market Volatility and Black Swan Events