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Your Life Your Wealth Network

Steve Cordasco, CEO of Cordasco Financial Network brings you LIVE exclusive interviews, the nation's best guests and expert insights on the latest news in the world of personal finance, global markets and politics every week! Gain comfort and clarity for your retirement by listening to the Your Life, Your Wealth podcast today!
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Now displaying: Category: general
Jul 11, 2019

The IRS tax code, as it stands today, won’t survive.  Some recent changes will either expire in 2026 or, if the political winds in Washington shift, perhaps sooner. Taxes are one of the biggest expenses you’ll face in retirement. Proper tax planning is imperative.  In this episode, I detail four important strategies for Roth IRA conversions you can use today that will help you save on taxes in the years ahead. 

Program Length: 33 minutes

Jul 4, 2019

How are you judging your investment success?  Are you an outcome driven or performance driven investor?  There are many priorities you should consider before simply judging the success of your investment strategy purely on performance numbers. As an investor, your priorities are unique.  Measuring your investment returns against arbitrary benchmarks isn’t necessarily the best way to evaluate your specific situation.  I discuss ways outcome driven investors more likely to attain success, as compared to those who focus entirely on the numbers.

Program Length 24 minutes

Jun 27, 2019
State and local tax deductibility was capped in the 2018 federal tax law changes causing high tax states to look for ways to get around parts of the new law.  The IRS has now ruled against the state’s efforts to circumvent the cap causing some in congress to start pushing for a repeal of the SALT (state and local tax) cap. Cordasco Financial Network CPA Jim Tate joins me to discuss the dollars and cents of this and the unlikely position some politicians find themselves in by supporting the elimination of the SALT cap.

Program Length: 22 minutes

Jun 21, 2019

In the last ten years, exchange traded funds have become very popular, in part because investors can buy and sell any time the markets are open. In today’s discussion, I fill you in on something new called interval funds, which restrict total withdrawals to a range of 5% to 25% of fund assets in a specified period, such as once a quarter. Some fund companies believe interval funds can deliver higher returns because of illiquidity.  These funds also use higher risk investments that are usually only available to wealthy or institutional investors.  

Program Length: 24 minutes

 

 
 
Jun 13, 2019
We’re nearing the end of the first half of 2019, a time to look back, and look ahead, as I’m joined by Chad Tischer, member of the CFN investment team at DiMeo, Schneider & Associates. We cover the equity and bond markets, tariffs, Federal Reserve policy, the employment outlook, and more.

Program Length: 23 minutes

Jun 6, 2019

Retirement Planning Tips for Age Gap Couples

Married couples with a sizable age difference face unique challenges relating to retirement. I discuss the issues including how age gap retirement impacts social security decisions, asset distributions, and other financial matters.  I also talk about the psychological and social effects of one spouse retiring as the other maintains full-time employment.

Program Length: 25 minutes

May 30, 2019
Six Pieces of Common Financial Advice You May Want to Avoid
 
Whether it’s from a financial professional or your brother-in-law, there’s no shortage of financial advice being dispensed.  I discuss some common advice that perhaps you shouldn’t heed.
 
 
Program Length: 25 minutes
May 24, 2019

A Shocking Number of Americans Unaware of The True Meaning of Memorial Day

Far too many Americans recently surveyed didn’t know that on Memorial Day we honor those who have served our country and paid the ultimate price.  I’m joined by Col. Kenneth DeTreux, U.S.M.C. Ret., currently Commandant of Cadets at Valley Forge Military Academy & College to discuss the true meaning of Memorial Day.

Program Length: 18 minutes

May 17, 2019
Tariff Talk Rocks the Markets 
 
Tariffs and the threat of a trade war with China were back in the news.  I’ll bring you up-to-date on where the negotiations currently stand, discuss the impact tariffs could have on your wallet, our economy and the strong influence news reports on tariffs have on the equities markets.
 
Program Length: 19 minutes
May 9, 2019

Increase Your Investment Returns with this Tax Saving Strategy 

I discuss tax loss harvesting, a way to realize losses to offset gains in your investment portfolio. It’s a strategy that could give you a half point increase in your investment returns, but there are some specific conditions you need to consider. 

Program Length: 18 minutes

May 2, 2019

Social Security Scandal

Questions about the future solvency of the social security system populate our news feeds.  There are a variety of gloomy predictions about the survival of the system.  As a preamble to future podcasts on social security, I briefly discuss whether or not our nation’s pool of social security money should be more aggressively invested. Could more aggressive investing of those dollars reduce the likelihood of a coming social security shortfall? Some consider the failure to more aggressively invest a real social security scandal.  

Program Length: 9 minutes 

Apr 25, 2019

The Key to Real Retirement Happiness

My guest Michael Finke, Chief Academic Officer of the American College of Financial Services, has been researching the elements of true retirement happiness for years.  His findings indicate that there are three strong predictors, the first two are money and health.  The third, perhaps equally as important to the first two, is the nurturing of personal and social relationships, especially the quality of your relationship with your spouse. We go in-depth discussing his findings and focus, as we so often do, on the all-important life side of retirement. Our guest reinforces the fact that true happiness in your retired years can not be found exclusively through money or wealth.

Program Length: 26 minutes

Apr 19, 2019
 
 

The "Extra Eyes" Have It: Income Tax Review

At Cordasco Financial Network, we don’t “do" your taxes, but we do offer the invaluable service of looking over the details of your return to ensure accuracy and make certain every tax-saving opportunity is realized.  CFN Financial Advisor John Walker joins me to discuss the details.  

Program Length: 8 minutes

Apr 12, 2019

Jags to Jail Cells

Operation Varsity Blues is back in the news this week.  Several high-profile wealthy parents pleaded guilty to tax evasion charges for trying to bribe their children's way into college.  Those who didn’t plead guilty saw their charges increased from mail fraud to the more serious charges of money laundering and conspiracy to commit fraud.  Philadelphia Attorney Ian Comisky, Partner with the firm Fox Rothschild, joins me to discuss the scandal along with other legal issues in the news this week.

Apr 4, 2019

Do You Know How Much Money You Will Really Need In Retirement?

The biggest fear many retirees have is running out of money. I’m joined by Aline Holzworth, a Behavioral Scientist at Duke University, who recently co-authored a Wall Street Journal article on her research to help determine the amount of money you may need in retirement. It’s a surprisingly high percentage of the annual income earned during your working years, and a much larger number than is often used as a rule-of-thumb by many planners. I also explain why it’s necessary to go beyond the numbers to live your best life in retirement.

Program Length: 14 minutes

Mar 28, 2019

Too many investors spend too much time chasing specific stocks or trying to time the market, while at the same time are careless about maximizing their tax benefits.  Carefully managing your taxes is an area where you can have a significant impact on the growth of your investments. Being smart about where you invest for retirement and even smarter about which retirement accounts you withdraw from, and in what order, can make a significant difference in the amount of money you keep and how much you send to Uncle Sam. I share tips and strategies you need to know.

Program Length: 33 minutes

Mar 22, 2019

Jerome Powell says the Federal Reserve is going to be rate neutral for now. What do his comments mean to you? I talk with Senior Financial Analyst Joe Cortese. We discuss market fundamentals as we approach the end of the first quarter of 2019. Plus, the Fed’s inflation fight, corporate debt and the strength of the U.S. dollar.  I also give my take on the markets and how volatility can bring opportunities. 

Program Length: 25 minutes

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Mar 15, 2019

It’s considered either a “fantastic new idea” or “the path to financial ruin.” There's a controversial new and growing trend relating to retirement called FIRE, Financial Independence Retire Early.  It’s a movement, largely supported by millennials, promoting the idea of living frugally while saving up to half of your income early in your career, then retiring in your mid 40’s.  I discuss the FIRE concept and look at the possible benefits and many problems connected to this very different type of financial life plan.

Program Length: 18 minutes

Mar 7, 2019

Jersey Shore Towns Take Hit on Property Values

Research indicates that the increase in property values at some Jersey Shore towns is being stunted by rising sea levels. Towns including Brigantine, Atlantic City, Sea Isle City, and North Wildwood are among the top 20 locations impacted, with the burgeoning retirement town of  Ocean City being the hardest hit.  I'm a resident of the Jersey Shore and skeptical of these findings, but wanted further detail. I’m joined by Columbia University researcher Jeremy Porter to explain his perspective on the data. 

Program Length: 24 minutes

Mar 1, 2019

Retirement Account Consolidation

If you’ve worked for various companies during your career, you may have accumulated several 401(k) accounts.  As retirement approaches, perhaps you should consider consolidating those accounts. This streamlining process can be complicated, and there could be benefits to maintaining separate accounts. I’ll walk you through the process and detail the pros and cons of retirement account consolidation.  

Program Length: 18 minutes

Feb 22, 2019

Investing In Innovation: Disruptive Technologies

Catherine Wood, Groundhog Day presenter and CEO of ARC Invest, joins me for a discussion about investing in disruptive technologies.  Ark Invest seeks investment opportunities with companies who specialize in technological innovations such as robotics, big data, cloud computing, and energy storage.  

Program Length: 18 minutes

Feb 14, 2019

Giving Back to Those Who've Served: A Conversation with Rear Admiral Thomas C. Lynch (USN Ret.) 

My broadcast from the 26th Annual Emerald Groundhog Day Investment Forum continues.  I’m joined by Rear Admiral Thomas C. Lynch (USN Ret.) along with Joe Besecker, Founder, Chairman, and President of Emerald Asset Management.  We discuss Admiral Lynch’s long and distinguished military and business career and his current work managing the nation’s leading VA mortgage company. Joe joins the conversation and discusses his personal and professional association with Admiral Lynch.  Plus, we’ll revisit an entertaining encounter I had with Adm. Lynch, Roger Staubach, Joe Besecker, and my son Vincent, years back at an Army/Navy game. 

Program Length: 22 minutes

Feb 8, 2019
Giving Back to Those Who Serve
 
 
I’m joined by Cal Quinn, Naval Academy graduate and service-wounded veteran who participated in Operation Enduring Freedom just after the 9/11 attacks.  Cal, who also works in the financial industry, and I discuss his military service and the importance of helping veterans by teaching skills that will serve them throughout their careers.  Our conversation was recorded at the 26th annual Groundhog Day Investment Forum hosted in Philadelphia by Emerald Asset Management.
 
 
Program Length: 40 minutes
Feb 1, 2019

Preparing for the Inevitable (Not Death!)

Ben Franklin famously said: “In this world, nothing is certain but death and taxes.” I’ll leave the death discussion for another day. For now, tax season is here and Cordasco Financial Network CPA Tim Joseph joins me for a review of several new tax laws that will impact your filing this year.

Program Length: 15 minutes

 

Jan 25, 2019

Where Science Meets Money

How old are you? It may no longer be just a simple question. I share new scientific data about chronological vs. biological age, and how it may someday be used to more accurately develop the wealth part of your financial plan.

Program Length: 15 minutes

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