Libsyn Directory

Life Expectancy, Caregiving Costs, & Retirement Planning | Christine Benz - E103

Personal Finance for Long-Term Investors - The Best Interest

Release Date: 03/26/2025

Buffett’s Blueprint - 8 Examples of Warren’s Timeless Wisdom - E110

Personal Finance for Long-Term Investors - The Best Interest

Jesse explores the timeless wisdom of Warren Buffett, highlighting both his disciplined investment philosophy and his unwavering emphasis on trust and character. Jesse breaks down Buffett’s approach to buying great businesses at fair prices, holding them long-term, and focusing on intrinsic value, margin of safety, and staying within one’s circle of competence. He also examines Buffett’s early warnings about derivatives as speculative tools that undermine market integrity, and how Buffett built Berkshire Hathaway not just through smart investing, but through a foundation of honesty,...

Scrimping, Splurging, and Other Crazy Spending Stories - E109

Personal Finance for Long-Term Investors - The Best Interest

Jesse explores the value of financial priorities and the balance between spending and saving with guests Diania Merriam, Justin Peters, Bill Yount, Jeremy Schneider, Doc G, and Joe Saul-Sehy. Diania highlights the “iceberg principle” of stealth wealth—how true wealth is often what you don’t see, like deferred purchases and unspent money. Justin shares a personal story about the cost and memories of boat ownership, emphasizing the lesson to buy utility and rent luxury. Bill discusses the different seasons of life in relation to frugality and spending, while Jeremy reflects on ingrained...

Go Roth Now Before It’s Too Late? And Other Listener Questions | AMA #7 - E108

Personal Finance for Long-Term Investors - The Best Interest

Jesse answers a range of listener questions on topics including estate planning, life insurance, financial benefits of marriage, tax strategies for high earners, healthcare in retirement, and investing during economic uncertainty. He explains that heirs to traditional IRAs must pay income tax on withdrawals, while taxable accounts benefit from a step-up in basis, and argues that whole life insurance is generally a poor investment choice for most people. He outlines how married couples enjoy more financial advantages due to shared costs, tax benefits, and retirement perks, though singles...

19 Questions to Uncover Good, Bad, and Ugly Financial Advisors | Don McDonald - E107

Personal Finance for Long-Term Investors - The Best Interest

Today, Jesse is joined by Don McDonald to offer a critical examination of the financial advising and annuity industries, warning retirees and near-retirees about misleading sales tactics that exploit fear - especially the fear of market losses. They emphasize the importance of working with fee-only, fiduciary advisors who are legally obligated to act in clients' best interests, in contrast to commission-based salespeople who often obscure fees, misrepresent guarantees, and use charm to build trust. Drawing from Jason Zweig’s “19 Questions to Ask Your Financial Advisor,” Jesse highlights...

Retirees’ Mistakes and Wake-Up Calls: Expectations vs. Reality - E106

Personal Finance for Long-Term Investors - The Best Interest

Jesse explores insights from the Retirements and Perspectives study, which captures the experiences and expectations of individuals transitioning into retirement, especially those aged 50 to 75. With half of the participants recently retired and the other half preparing to retire within two years, the study offers a timely look at the "final glide path" into retirement and the early years that follow. Authored by retirement experts Fritz Gilbert and Eric Weigel, the report dives into preparedness, lifestyle satisfaction, and evolving concerns. It reveals a common disconnect between what...

It’s Not Too Late: Smart Money Moves After 50 | Bill Yount - E105

Personal Finance for Long-Term Investors - The Best Interest

Jesse explores the financial journey of late starters with guest Bill Yount, co-host of Catching Up to FI. In the opening monologue, Jesse shares his “Stupidly Simple Secret Sauce” for personal finance: spend less than you earn, grow income without inflating lifestyle, invest consistently, and prioritize savings. He warns against flashy success stories, consumer culture, and speculation, instead advocating for steady, index-fund investing and disciplined budgeting. The episode also addresses market volatility and debunks the “buy the dip” strategy, showing that long-term consistency...

Tariffs, Turbulence, and the Harsh Truths We Must Now Face - Bonus Episode

Personal Finance for Long-Term Investors - The Best Interest

Today, Jesse critiques emotional, reactive investing during volatile market conditions—especially in response to tariffs and recession fears—while promoting disciplined, evidence-based strategies. Tariffs, though intended to protect domestic industries, often raise prices and stoke inflation, ultimately harming consumers, businesses, and investor sentiment, with economists warning they may slow growth or trigger stagflation. Market reactions, such as those seen during the Trump-era tariffs, highlight investor uncertainty and the self-inflicted nature of such economic disruptions. Jesse...

"Tax-Free Retirement" - Smart Strategy or Overhyped Gimmick? And Other Listener Questions | AMA #6 - E104

Personal Finance for Long-Term Investors - The Best Interest

Jesse answers listener questions on financial planning, investment management, and retirement. He discusses the challenges of rising homeowner’s insurance costs in high-risk areas, the differences between Treasuries, CDs, and high-yield savings accounts, and the inefficiencies of using life insurance for tax-free retirement. He advises Casey, a future retiree, on tax-efficient withdrawal strategies and investment choices, and guides Chris, a federal worker, on pension decisions, TSP management, and career changes. Jesse also addresses Rachel’s concerns about bond funds versus individual...

Life Expectancy, Caregiving Costs, & Retirement Planning | Christine Benz - E103

Personal Finance for Long-Term Investors - The Best Interest

The Truth About the U.S. National Debt (And How It Impacts You Personally) - E102

Personal Finance for Long-Term Investors - The Best Interest

Today we take a look at the U.S. national debt, distinguishing it from household debt and analyzing its impact on individuals and investors. Jesse traces the debt’s history and explains its structure, funding through Treasury bonds, and refinancing process. The discussion covers Modern Monetary Theory (MMT), which suggests that as a currency issuer, the U.S. cannot default but must manage inflation through taxation—though critics question the feasibility of this approach. While deficit spending can drive economic growth, excessive money printing may erode investor confidence. Interest...

More Episodes

Jesse Cramer speaks with Christine Benz, Director of Personal Finance at Morningstar, about insights from her book How to Retire. Before their discussion, Jesse contrasts gambling with long-term investing, emphasizing the risks of short-term market bets versus the reliability of patient investing. Christine highlights the shift in financial advice toward holistic retirement planning, including the importance of low-cost, diversified portfolios and planning for life transitions. The episode also explores the financial impact of caregiving, particularly on women, and the necessity of proactive retirement savings and long-term care planning. John Guyton’s "guardrails approach" is discussed as a strategy for adjusting withdrawals based on market performance. Additionally, the conversation underscores the role of psychology in financial decision-making and the non-financial aspects of retirement, such as maintaining social connections and redefining work-life balance. The overarching message is that successful retirement planning requires a combination of careful financial preparation, behavioral awareness, and long-term strategic thinking.

Key Takeaways:
• Short-term stock market movements may seem random, but long-term investing historically trends upward, making it a safer and more strategic approach compared to gambling.
• Many people underestimate their lifespan, which can lead to financial shortfalls in retirement; actuarial data and family history should be factored into planning.
• Persuasive stories can shape financial decision-making, sometimes leading people to overlook critical advice in favor of compelling but misleading pitches.
• Taking on unpaid caregiving roles can impact financial security, and couples should consider financial agreements to ensure fair distribution of assets.
• Beyond finances, maintaining social connections and finding purpose are crucial for a satisfying retirement.
• A successful retirement is not just about financial security but also about ensuring a meaningful and well-balanced life in later years.

Key Timestamps:
(00:00) Casino vs. Investment
(11:09) Understanding Life Expectancy for Retirement
(15:29) The Man Who Never Looked Up
(20:41) Interview with Christine Benz
(23:06) The Shift to Holistic Planning
(23:47) Consumer Investment Preferences
(24:26) Christine's Book: How to Retire
(25:04) Personal Story: Christine's Parents
(27:16) The Role of Financial Planners
(30:24) Flexible Financial Planning Models
(39:46) Retirement Planning for Women
(45:28) Navigating Retirement as a Couple
(47:24) Insights from The Long View Podcast
(49:17) Conclusion and Contact Information

Key Topics Discussed:
The Best Interest, Jesse Cramer, Rochester New York, financial planner, financial advisor, wealth management, retirement planning, tax planning, personal finance

Mentions:
Website: https://www.morningstar.com/podcasts/the-long-view

LinkedIn: https://www.linkedin.com/in/christine-benz-b83b523/

Mentions:

https://bestinterest.blog/how-long-will-you-live/

https://bestinterest.blog/some-bets-im-willing-to-make/

https://bestinterest.blog/the-man-who-never-looked-up/

More of The Best Interest:
Check out the Best Interest Blog at bestinterest.blog
Contact me at [email protected]

The Best Interest Podcast is a personal podcast meant for educational and entertainment. It should not be taken as financial advice, and is not prescriptive of your financial situation.

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