All About Tariffs: What They Are And Why They Matter To You Creating Wealth podcast

29:34

Confused about Roth accounts? You’re not alone. In this episode, we’re breaking down one of the most important—and misunderstood—topics in retirement planning in the U.S. We’ll walk through the key differences between Roth and Traditional accounts, income limits for Roth contributions, and how Roth 401(k)s compare to Roth IRAs. You’ll also learn when it makes sense to contribute to a Roth, how the backdoor Roth strategy works, and when a Roth conversion might benefit your long-term plan. Plus, we’ll cover early withdrawal rules, required minimum distributions (RMDs), and how to incorporate Roth accounts into your overall retirement and tax diversification strategy. Whether you’re building your retirement roadmap or fine-tuning your portfolio, this conversation is packed with actionable insights to help you make the most of your money—now and in the future. We cover: The difference between Roth and Traditional accounts Roth IRA vs. Roth 401(k): Which one fits your goals Income limits for Roth contributions How and when to use a backdoor Roth What Roth conversions are and when they make sense Early withdrawal rules and how to avoid penalties How to include Roth accounts in a long-term retirement and tax diversification strategy Enjoy the show? Please subscribe, leave a review, or share this episode with a friend! Got questions or topics you'd like us to cover? Email us at askcreatingwealth@taberasset.com —we’d love to hear from you.…

Creating Wealth

1
AI in 2025: What’s New, What’s Next, and What It Means for You, Part Two 22:15

17 days ago22:15

22:15

Welcome to our annual AI update! A lot has changed in just a year, and in 2025, artificial intelligence is advancing faster than ever—impacting how we work, live, and interact with the world around us. In this two-part series, we break down the biggest developments in AI, how it’s becoming embedded in our everyday lives, and what you can do to stay ahead of the curve. In Part One, we focused on how AI has evolved over the past year, the most important trends to watch over the next 12–18 months, and what the average person should understand about the current pace of AI development. We also shared how we’ve personally been integrating AI tools into our daily lives—both professionally and at home. In Part Two, we’ll explore how AI is transforming the job market, which roles are being affected most (both positively and negatively), and the ethical concerns that are rising along with the technology. We’ll wrap with practical advice on how to stay informed and remain adaptable in a rapidly changing AI-driven world. For questions, comments, or feedback, email us at askcreatingwealth@taberasset.com . Be sure to subscribe and leave a review to stay updated on future episodes. Check out our previous episodes on AI: 2024 - Navigating the AI Revolution: Insights for Investors and Workers, Part One 2024 - Navigating the AI Revolution: Insights for Investors and Workers, Part Two 2023 - Are You Prepared for the AI Revolution?…

Creating Wealth

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AI in 2025: What’s New, What’s Next, and What It Means for You, Part One 22:30

4 weeks ago22:30

22:30

Welcome to our annual AI update! A lot has changed in just a year, and in 2025, artificial intelligence is advancing faster than ever—impacting how we work, live, and interact with the world around us. In this two-part series, we break down the biggest developments in AI, how it’s becoming embedded in our everyday lives, and what you can do to stay ahead of the curve. In Part One, we focus on how AI has evolved over the past year, the most important trends to watch over the next 12–18 months, and what the average person should understand about the current pace of AI development. We also share how we’ve personally been integrating AI tools into our daily lives—both professionally and at home. In Part Two, we’ll explore how AI is transforming the job market, which roles are being affected most (both positively and negatively), and the ethical concerns that are rising along with the technology. We’ll wrap with practical advice on how to stay informed and remain adaptable in a rapidly changing AI-driven world. For questions, comments, or feedback, email us at askcreatingwealth@taberasset.com . Be sure to subscribe and leave a review to stay updated on future episodes. Check out our previous episodes on AI: 2024 - Navigating the AI Revolution: Insights for Investors and Workers, Part One 2024 - Navigating the AI Revolution: Insights for Investors and Workers, Part Two 2023 - Are You Prepared for the AI Revolution?…

Creating Wealth

1
What Now? Navigating Job Loss and Industry Disruption 31:54

6 weeks ago31:54

31:54

In this episode, we talk about how to take control after a job loss and make smart decisions for your financial future and career. We discuss what to do in the immediate aftermath, including addressing the emotional impact of job loss and what key financial steps to take. You’ll also hear practical advice on how to start planning your next move, especially if your industry is evolving or no longer viable. Whether you’ve just been laid off, are navigating a major career pivot, or you’re supporting someone who is, this episode is here to guide you through those uncertain moments. For questions, comments, or feedback, email us at askcreatingwealth@taberasset.com . Be sure to subscribe and leave a review to stay updated on future episodes.…

Creating Wealth

1
Should I Have Kids? Expert Insights on Emotional and Financial Preparedness – with Ann Davidman 32:29

8 weeks ago32:29

32:29

In this insightful episode, we tackle one of life’s most consequential decisions: "Should I Have Kids?" with the help of our special guest, Ann Davidman—a seasoned marriage and family therapist from the San Francisco Bay Area. Together, we delve into the process of choosing or not choosing parenthood, and the role of financial readiness. Whether you're on the fence about starting a family or simply curious about the balance of emotional and financial preparedness, this episode offers valuable guidance to help you make a thoughtful, informed decision. Ann Davidman is a seasoned expert who has spent years working with others on this very topic. Ann earned her graduate degree from San Francisco State University. She’s a member of the California Association of Marriage and Family Therapists (CAMFT) and maintains a successful private psychotherapy practice in the San Francisco Bay area. She’s been featured in numerous publications, including Vox, The Washington Post, The New York Times, Fatherly, Refinery 29, Baby Center, ABC Australia, +Lifehacker, The Daily Mail, and more. Have questions or comments? Reach out to us at askcreatingwealth@taberasset.com , and don't forget to subscribe and leave a review. Tune in now for an essential conversation that could shape your future. Resources: Ann Davidman's website Book - "Motherhood: Is it for Me?" Connect with us on LinkedIn: Bill Taber and Anastasia Taber…

Creating Wealth

1
Baby Finances 401 4:27

10 weeks ago4:27

4:27

Welcome to a very special episode of our podcast! We’re taking a break from our usual deep dives into personal finance to explore a fun, unconventional perspective—through the eyes of Anastasia's toddler daughter (and Bill's granddaughter). We'll skip over the advanced classes in baby finances and jump straight to Baby Finances 401, where we ask the hard and existential questions about money. For questions, comments, and topics, you can email us at askcreatingwealth@taberasset.com . Don't forget to subscribe and review us—your support helps us bring more joy and insightful conversations to our community!…

Creating Wealth

1
From Theory to Practice: How to Increase Your Well-Being Every Day, Part Two 39:18

10 weeks ago39:18

39:18

Welcome back to our March series on well-being, inspired by Yale’s renowned Science of Well-Being course by Professor Laurie Santos. In our last episode, we debunked common myths about happiness and explored how our brains sometimes lead us astray in our pursuit of joy. In Part Two, we’re making it practical by delving into research-backed strategies that can boost your happiness and well-being. We unpack the concept of “rewirements” and discuss how small, intentional habits like practicing kindness, savoring positive moments, and daily gratitude can counteract hedonic adaptation. We’ll explore the power of resetting your reference points, the benefits of meditation, and offer actionable tips to seamlessly integrate these happiness habits into your everyday life. Whether you’re seeking an abundance mindset or looking for practical ways to enhance your personal well-being, this episode is packed with insights to help you cultivate lasting happiness. Tune in now to discover the one key takeaway that could transform your approach to living a better life! For questions, comments, or topic suggestions, email us at askcreatingwealth@taberasset.com . Enjoy the episode! Resources: The Science of Well Being course (free) The New Era of Positive Psychology TED Talk by Martin Seligman (2004) The Surprising Science of Happiness TED Talk by Dan Gilbert Learn your character strengths Use your strengths to boost happiness Connect with us on LinkedIn: Bill Taber and Anastasia Taber…

Creating Wealth

1
What Really Makes Us Happy? Insights from Yale's Science of Well-Being, Part One 32:38

12 weeks ago32:38

32:38

Welcome to our March series on well-being, inspired by Yale’s renowned Science of Well-Being course by Professor Laurie Santos. In this first episode, we dive into the core misconceptions about happiness and explore how our minds can sometimes trick us into chasing the wrong goals—like believing that a promotion or more money will automatically bring joy. We break down the science behind what truly makes us happy, discussing what factors play critical roles in boosting our overall well-being. We also examine the impact of social media on our perceptions of happiness and share actionable mindset shifts that can help you adopt an abundance mentality. Given the wealth of information offered in this course, we are splitting this conversation into two episodes. Part One will focus on what are misconceptions about happiness, how our minds trick us, and what actually makes us happy. Part Two will focus on how to apply practical strategies to increase your well-being and happiness. Tune in and join us on this journey to rethink what truly brings joy and to set the stage for a more fulfilling year! For questions or comments, reach out to us at askcreatingwealth@taberasset.com . Enjoy the episode! The Science of Well Being course (free) The New Era of Positive Psychology TED Talk by Martin Seligman (2004) The Surprising Science of Happiness TED Talk by Dan Gilbert Learn your character strengths Use your strengths to boost happiness Connect with us on LinkedIn: Bill Taber and Anastasia Taber…

Creating Wealth

1
Regulating Emotions During Jumpy Markets: A Re-Release 19:37

14 weeks ago19:37

19:37

Welcome back to the podcast! In this re-released episode, we revisit one of our most popular discussions—"Regulating Emotions During Jumpy Markets"—with fresh context for 2025. With the U.S. stock market at all-time highs and investment returns in 2023 and 2024 rivaling those of the dot-com boom, our conversation on market volatility has never been more relevant. In this episode, Bill shared his personal insights on the turbulent market conditions of May 2022—when inflation began to surge. He even drew a compelling analogy between Mito Pereira’s 2022 PGA Championship loss and the resilience required to navigate challenging market conditions. We also discussed whether it was time for investors to adjust their strategies amid ongoing economic uncertainties. If you’re feeling the market jitters or simply seeking guidance on maintaining focus on your long-term financial goals, this episode provides practical strategies for regulating your emotions and staying on course. For any questions or comments, feel free to reach out at askcreatingwealth@taberasset.com . Tune in for timely insights that help you navigate the ups and downs of today’s market! Resources: Connect with us on LinkedIn: Bill Taber and Anastasia Taber…

Creating Wealth

1
Finances and Forever: Building a Strong Foundation for Marriage - with Rev. Dr. Scott Paczkowski 42:36

16 weeks ago42:36

42:36

Thinking about getting married? Before saying "I do," it’s crucial to have honest conversations about communication, finances, and long-term goals to build a strong foundation for your marriage. In this episode, Rev. Dr. Scott Paczkowski, senior pastor at Westminster Presbyterian Church in Des Moines, IA, joins us to share his insights from years of pre-marital counseling experience. We’ll discuss: - The most common areas of conflict in marriage and how to address them early - Key questions couples should ask each other before getting married - How to improve communication and navigate financial differences - Steps to grow together emotionally and spiritually as a couple If you’re engaged, newly married, or planning for the future, this episode will help you prepare for a successful marriage with practical tips and expert advice. Have thoughts on this episode or a question for us? We’d love to hear from you! Connect with us on LinkedIn or send us an email at askcreatingwealth@taberasset.com . Don’t forget to subscribe and leave a review—it helps others find the show! Resources: Connect with us on LinkedIn: Bill Taber and Anastasia Taber About Rev. Dr. Scott Paczkowski…

Creating Wealth

1
All About Tariffs: What They Are and Why They Matter to You 30:34

18 weeks ago30:34

30:34

Tariffs—what are they, and why do they matter to you? In this episode, we break down the basics of tariffs, explaining why governments use them and how they impact everything from the price of everyday goods to job opportunities. If you’re wondering whether certain products will get more expensive or how global trade policies affect your financial future, we’ve got you covered. We’ll also dive into real-world examples, exploring how tariffs on industries like steel and electronics have shaped markets and consumer prices. Plus, we’ll discuss what these policies mean specifically for Millennials and Gen Z, from the impact on jobs to the cost of living. If you’ve ever wanted to make sense of the headlines and understand how trade decisions impact your daily life, this episode is for you! Don't forget to subscribe or share this episode with a friend. Have questions, thoughts, or ideas for future episodes? We'd love to hear from you--reach out on social media or send us an email to askcreatingwealth@taberasset.com . Resources: Connect with us on LinkedIn: Bill Taber and Anastasia Taber AP: What are tariffs and how do they work? National Bureau of Economic Research paper NBC: Tariffs contribute to job losses in American manufacturing, Fed report shows Yahoo Finance: Tariffs could raise car prices quickly What is the Smoot-Hawley Tariff Act?…

Creating Wealth

1
10 Tiny Tweaks That Will Transform Your Budget in 2025 35:33

20 weeks ago35:33

35:33

Start your financial year off right! In this episode, we review how our budgets went in the last year, what we learned, and what we want to focus on in the next year. We’ll also explore why focusing on small tweaks—not massive overhauls—is the key to long-term success, and reveal ten simple adjustments you can make to improve your budget and save more money. From tracking hidden expenses to optimizing your subscriptions, we’ll break down practical tips that anyone can implement. We’ll tackle common challenges, like staying motivated when progress feels slow, and share strategies to bounce back if you fall off track. Whether you’re looking to take control of your finances for the first time or refine your current system, this episode is packed with insights to help you achieve your 2025 financial goals. Tune in and discover which tiny tweak could make the biggest difference in your budget this year! If there’s one tweak from today’s conversation that resonated with you, we’d love to hear about it! Share your thoughts, questions, or successes with us on social media or through email at askcreatingwealth@taberasset.com . And if you found this episode helpful, don’t forget to share it with a friend who might also be looking to level up their financial game in 2025. Resources: Connect with us on LinkedIn: Bill Taber and Anastasia Taber Check out our other annual budgeting episodes: 2024 2023 2022 2021 2020…

Creating Wealth

1
Understanding the 4 Levels of Wealth: Where Do You Stand and How Can You Level Up? 27:32

22 weeks ago27:32

27:32

Are you ready to take control of your financial future? In this episode, we're breaking down the four levels of wealth—a powerful framework that can help you understand where you stand financially, where you want to go, and how to get there. Whether you're just starting out, working toward financial independence, or dreaming of reaching elite levels of wealth, this conversation is packed with practical tips, insights, and motivation to help you move up the wealth ladder. We'll explore how Millennials and Gen Z can assess their current financial standing using two key formulas, and we'll share actionable advice for moving from the lower or mid levels to higher levels of wealth. Along the way, we'll highlight common mistakes to avoid and strategies for staying motivated, even when progress feels slow. If you've ever felt stuck in your financial journey or wondered how to reach the next milestone, this episode is your roadmap to leveling up. Let's dive in and build a brighter financial future together! We love hearing from our listeners. If you have any questions, comments, or topic suggestions, you can reach out to us at askcreatingwealth@taberasset.com . Other Related Episodes 2020: Budgeting Spending Control 2021: Forming an Annual Budget Episode How to Increase Your Savings Rate 2022: How Is Your Budgeting Going? 2023: How to Prioritize Your Spending Negotiating Salaries - How to Increase Your Income 5 Ways to Limit Lifestyle Creep 2024: Reach Your 2024 Goals By Budgeting Understanding FIRE: How the Financial Independence Retire Early Movement Applies to You The Millionaire Next Door Discussion, Part One The Millionaire Next Door Discussion, Part Two…

Creating Wealth

1
Listener Reflections: Gratitude and the Abundance Mindset 27:00

24 weeks ago27:00

27:00

In this special episode, we're revisiting one of our favorite annual topics: gratitude. It's no secret that practicing gratitude can lead to a happier and more fulfilling life—but did you know it can also play a key role in building wealth? Join us as we reflect on the year 2024, share heartfelt messages of gratitude from our listeners, friends, and family, and discuss why focusing on abundance—rather than scarcity—can help you grow your wealth and make wiser financial choices. We'll also discuss how gratitude can serve as a powerful antidote to the negativity of social media and the 24-hour news cycle, helping you reframe your mindset and focus on what truly matters. Whether you're looking for positivity or inspiration to incorporate gratitude into your financial journey, this episode is for you. Tune in to start reflecting on what you're grateful for and get inspired for how gratitude can shape a brighter, more abundant future. We love hearing from our listeners. If you have any questions, comments, or topic suggestions, you can reach out to us at askcreatingwealth@taberasset.com . Resources: Free Yale course: The Science of Well-Being Br. David Steindl-Rast on gratitude…

Creating Wealth

1
Planning for the Unexpected: The Role of Insurance in Financial Security - with Michael Silverman 32:03

26 weeks ago32:03

32:03

Insurance can be a confusing and often overlooked part of personal finance, but it plays a critical role in safeguarding your financial future. In this episode, we're joined by Michael Silverman, President and CEO of Silver Lining Insurance Agency, Inc., and an independent insurance agent with over 40 years of experience. Together, we break down the essentials of insurance, including the common mistakes people make, how to adjust your policies for different life stages, and why regular reviews of your coverage are so important. Michael also shares practical tips for Millennials and Gen Z on shopping for insurance, insights on rising premiums caused by severe weather events, and how independent agents can help find personalized coverage that meets your unique needs. Whether you're navigating auto, home, health, or life insurance, this episode provides the expert advice you need to make smart decisions and protect what matters most. As 2024 comes to a close, we'd love to hear from you! For our final episode of the year, we're focusing on gratitude and reflection. If you'd like to share something you're grateful for this year--whether it's a financial win, a personal achievement, or a moment that brought you joy--send us a message! Your stories could inspire others and help us close the year on a positive note. For any questions, comments, or topic suggestions, email us at askcreatingwealth@taberasset.com . Resources: Michael's firm's website - Silver Lining Insurance Agency…

Creating Wealth

1
What You Need to Know About Estate Planning - with Olesya Sidorkina 36:48

28 weeks ago36:48

36:48

In this episode, we're tackling an essential yet often overlooked personal finance topic: estate planning. Whether you're just starting out in your career or well along your wealth-building journey, having an estate plan is critical for protecting your assets and loved ones. Our guest, Olesya Sidorkina, an experienced estate planning attorney, breaks down everything you need to know about wills, trusts, and avoiding probate. We'll discuss common mistakes, affordable options for young professionals, and why estate planning isn't just for the wealthy. If you've ever wondered where to start or why it's important to plan ahead, this episode is your guide to understanding and securing your financial legacy. For any questions, comments, or topic suggestions, email us at askcreatingwealth@taberasset.com . Resources: Olesya's firm's website - Essential Legal Planning…

Creating Wealth

1
Challenging Nostalgia: Millennials, Boomers, and Rose-Colored History 32:05

30 weeks ago32:05

32:05

Today, we're diving into the second part of a two-part series aimed at reversing some of the doom and gloom that seems so prevalent in American discourse today. Recent polls show that only 25% of Americans are satisfied with how things are going, but is the outlook really so bleak? In part one, we covered the current state of the U.S. economy, Anastasia shared some exciting personal news, and Bill explored the ten factors that make the U.S. economy the strongest in the world. In part two, we'll discuss how Millennials stack up against Baby Boomers at their age, and why the tendency to view past turbulence through rose-colored lenses may be skewing our perspective. Whether you're feeling stressed or anxious about the election results or just looking for a positive perspective on the economic outlook, this two-part episode series will help reorient your mindset toward abundance - a key theme of our podcast. For any questions, comments, or topic suggestions, email us at askcreatingwealth@taberasset.com . Resources: The Great Millennial Divide article Morgan Housel's podcast Wait But Why - Why I Lugged My 27-Pound Toddler to a Rocket Launch SpaceX catches Starship rocket booster The Internet and the Pandemic - Pew Research…

Creating Wealth

1
Hope Beyond the Headlines: Why the U.S. Economy is Stronger Than You Think 29:09

32 weeks ago29:09

29:09

Previously, we discussed market volatility leading up to the U.S. election. Today, we're diving into the first part of a two-part series aimed at reversing some of the doom and gloom that seems so prevalent in American discourse today. Recent polls show that only 25% of Americans are satisfied with how things are going, but is the outlook really so bleak? In part one, we'll cover the current state of the U.S. economy, Anastasia will share some exciting personal news, and Bill will explore the ten factors that make the U.S. economy the strongest in the world. In part two, we'll discuss how Millennials stack up against Baby Boomers at their age, and why the tendency to view past turbulence through rose-colored lenses may be skewing our perspective. Whether you're feeling stressed or anxious about the election or just looking for a positive perspective on the economic outlook, this two-part episode series will help reorient your mindset toward abundance - a key theme of our podcast. For any questions, comments, or topic suggestions, email us at askcreatingwealth@taberasset.com . The Envy of the World: The Economist special report Check out our related recent episode, Three Mistakes Investors Make During Election Years The election is stressing everyone out…

Creating Wealth

1
Why Social Security Matters for Millennials and Gen Z 30:08

34 weeks ago30:08

30:08

In this episode, we're diving into a topic that often seems distant for younger generations: Social Security. Many millennials and Gen Zers might think Social Security won't impact them for decades, but it's crucial to start understanding it now. We begin with a brief history of Social Security and explain how it works in the U.S. We'll explore why Social Security is still important for younger people's retirement planning and address the burning question: Is Social Security really running out? We'll discuss what factors are leading to concerns about the program's future and what potential reforms are being considered to keep it sustainable. Finally, we break down the key factors that determine how much you'll receive in Social Security benefits and offer insights on what younger generations should keep in mind as they plan their financial future. This episode is packed with important information to help you plan for long-term financial stability. Leave a review or send us your questions at askcreatingwealth@taberasset.com ! Resources: Retirees Face a $17,400 Cut If Social Security Isn't Saved Social Security's Financial Outlook…

Creating Wealth

1
Finance and Romance: Managing Money When One Partner is the CFO - with Dean Ensley 38:53

36 weeks ago38:53

38:53

In today's episode, Anastasia is joined by a special guest--her husband Dean--to explore the intersection of finance and romance. Managing finances in a relationship has its challenges, especially when one partner takes on the role of the "CFO" while the other is more hands-off. We share our personal experiences of navigating money management together. We'll discuss how we decided who would take the lead in handling finances, the challenges and benefits of this dynamic, and how we maintain open communication and shared financial goals. Whether you're the primary financial planner or your partner is, we've got practical tips to help you create financial harmony in your relationship. Plus, we'll dive into lessons learned and even our dream financial superpowers! Tune in to discover how to work together on building wealth while maintaining a strong partnership. Don't forget to leave a review or send us your questions at askcreatingwealth@taberasset.com ! Check out our previous related episodes: Timing Matters: When to Merge Finances with Your Partner (May 2024) How to Build Wealth With Your Partner (February 2023) Discussing Finances with Your Life Partner (July 2020) Bonds 201 (April 1, 2021)…

Creating Wealth

1
Three Mistakes Investors Make During Election Years 24:26

38 weeks ago24:26

24:26

How do U.S. elections impact the stock market? In this episode, we dive into "election anxiety" and how it affects your investment decisions. We'll explore the historical data on market performance during election years, whether it matters which political party controls the government, and the three common mistakes investors often make during the election season. Plus, we'll share actionable strategies to help you avoid these pitfalls and provide perspective on the best mindset to adopt during politically charged times. If you're feeling uncertain about the upcoming election and your investments, this episode is for you! Tune in to learn how to navigate market volatility during election seasons and keep your investment strategy on track. For any questions, comments, or topic suggestions, email us at askcreatingwealth@taberasset.com . Resources: List of largest daily changes in the Dow Jones Industrial Average S&P 500 Chart…

Creating Wealth

1
Fraud-Proof Your Finances: How to Keep Your Wealth Safe 42:44

40 weeks ago42:44

42:44

In today's digital age, fraudsters are becoming more sophisticated, targeting individuals through online scams, phishing emails, and identity theft. In this episode, we dive deep into how you can protect yourself from falling victim to fraud. We'll cover key strategies to recognize suspicious emails, phone calls, and messages, and how to verify the legitimacy of companies, investment opportunities, or charities before engaging with them. Learn about common psychological tactics scammers use to manipulate their victims, and discover practical steps to safeguard your personal and financial information. Whether you're shopping online, using mobile apps, or receiving unexpected communications, this episode will equip you with the knowledge to stay vigilant and secure. Join us as we explore how to respond to fraud, report fraudulent activities, and take proactive measures to protect yourself in an increasingly connected world. For any questions, comments, or topic suggestions, email us at askcreatingwealth@taberasset.com . Resources: Info on the Social Security number leak Check if your Social Security number was leaked Access Your Credit Reports Info on Credit Card Liability Rescuing Your Hacked Social Media Account How to Protect Yourself from Sim Swap Scams How to Freeze Your Child's Credit…

Creating Wealth

1
The Reality Behind Recent Market Dips: A Long-Term Investment Outlook 26:13

42 weeks ago26:13

26:13

In this episode, we dive into the recent market volatility that has left many investors concerned. If you've noticed your investment account balances dropping or seen chatter online about market dips, we're here to provide clarity and context. We'll discuss what's been happening in the markets lately, explore the key factors contributing to increased volatility right now, and break down the latest actions by the Federal Reserve regarding interest rates, inflation, and unemployment. We also address the "buy the dip" strategy that some retail investors are adopting during a downturn and offer our thoughts on its effectiveness. Whether you're a seasoned investor or new to the market, this episode will give you valuable insights to help you stay focused on your long-term investment goals. For any questions, comments, or topic suggestions, email us at askcreatingwealth@taberasset.com . Resources: The failure of Pets.com Check out our most recent AI two-parter Regulating Emotions During Jumpy Markets…

Creating Wealth

1
Understanding Influences on Your Money Habits: Experience, Luck, and Risk 29:00

44 weeks ago29:00

29:00

In this episode, we revisit one of our favorite personal finance books, "The Psychology of Money" by Morgan Housel to understand how our individual experiences and the elements of luck and risk influence our financial decisions. Building on key insights, we explore why personal history plays such a significant role in shaping how we view money and make financial choices. We'll discuss: 1. How personal experiences with money shape our financial worldview. 2. The impact of generational differences on attitudes towards money and wealth. 3. Insights for making informed financial decisions considering personal biases. 4. The balance between luck and risk in achieving financial success. 5. Memorable stories and quotes that highlight the unpredictable nature of financial outcomes. This episode will provide valuable perspectives to help you better understand your relationship with money and make more mindful financial choices. Tune in to gain practical advice and deeper insights into the psychology of financial behavior. For questions, comments, and topic suggestions, email us at askcreatingwealth@taberasset.com .…

Creating Wealth

1
How to Cultivate Financial Discipline to Meet Your Goals 36:57

46 weeks ago36:57

36:57

A 2023 survey conducted by payroll.org found that 78% of Americans live paycheck to paycheck and are struggling to save or invest after covering monthly expenses. Despite markets reaching all-time highs, recent years of inflation have driven significant stress and concern over the current economic state. Roughly half of 4,000 respondents in a June survey by Jenius Bank reported losing sleep over their financial situation. In this episode, we focus on what we can control: developing financial discipline. What does it take to be disciplined with your money? We'll expand on the statistics behind Americans living paycheck to paycheck, explore the history of personal savings, and dive into what it takes to be financially disciplined. We'll cover: 1. The top reasons why Americans live paycheck to paycheck. 2. The history of personal savings – how did people save money decades or centuries ago? 3. The nature of self-discipline – is it innate or a learned skill? 4. Common challenges people face when trying to develop financial discipline. 5. Practical strategies to increase financial discipline. We hope this episode empowers you with ideas and strategies to incorporate into your life, helping you increase your discipline in creating wealth. Let's begin! For any questions, comments, or topic suggestions, email us at askcreatingwealth@taberasset.com .…

Creating Wealth

1
Tax Strategies for Young Investors 33:12

48 weeks ago33:12

33:12

In this episode, we dive into essential tax strategies tailored for young investors. Discover the key differences between Roth and traditional IRAs and understand how these choices impact your tax strategy. We'll explain the concept of tax diversification and its importance for building a resilient financial future. Learn how to prioritize contributions to tax-advantaged accounts like 401(k)s, Roth IRAs, and HSAs, and avoid the five common mistakes that young investors may make. We'll also discuss how different types of investment accounts influence your tax burden and break down the nuances of capital gains taxes, dividends and interest income. Equip yourself with the knowledge to navigate taxes effectively and build wealth with confidence. For questions, comments, and topic suggestions, email us at askcreatingwealth@taberasset.com . Don't miss out-subscribe now to stay informed on the latest investment trends and personal finance topics! Related Episodes: Taxes 101 How to Manage Your 401(k)…

Creating Wealth

1
Navigating the AI Revolution: Insights for Investors and Workers, Part Two 14:59

50 weeks ago14:59

14:59

In April 2023, we discussed the rise of AI, our experiences with Chat GPT, and the profound changes AI is poised to bring to our world. We concluded that AI would transform nearly everything, with some changes foreseeable and others beyond our current understanding. Given the rapid advancements in AI, it’s time for an update. In Part One, we explore the latest developments that have occurred in the AI space, what new technology is on the horizon, the potential risks and societal implications of increased AI adoption, and key insights for investors navigating the evolving AI landscape. In Part Two, we continue the discussion to provide important information for workers to consider as they adapt to AI-driven changes in the job market. Join us as we unpack these developments, providing valuable perspectives for both investors and workers to navigate the ongoing AI revolution with confidence and success. For questions, comments, and topic suggestions, email us at askcreatingwealth@taberasset.com . Don’t miss out—subscribe now to stay informed on the latest investment trends and personal finance topics! Resources: The Last Blockbuster documentary The Precipice: Existential Risk and the Future of Humanity by Toby Ord List of nuclear warhead accidents Center for Humane Technology…

Creating Wealth

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Navigating the AI Revolution: Insights for Investors and Workers, Part One 28:21

1 year ago28:21

28:21

In April 2023, we discussed the transformative rise of AI, predicting that AI would revolutionize nearly every aspect of our lives. Now, a year later, it's time for an update on this rapidly evolving technology. In this episode, we explore the latest AI developments and what they mean for the future. Join us as we delve into: The newest advancements in AI since our last episode. Emerging AI technologies on the horizon. The risks and societal implications of increased AI adoption. Essential insights for investors navigating the AI landscape. Crucial information for workers adapting to AI-driven changes. Whether you’re an investor, a professional, or simply curious about the future of AI, this episode provides valuable perspectives and practical advice. Tune in to stay informed about the AI revolution and its impact on our world. For questions, comments, and topic suggestions, email us at askcreatingwealth@taberasset.com . Don't miss out—subscribe now for more insights on AI and its transformative power! Resources: Are You Prepared for the AI Revolution? Driverless Taxis Robot coffee…

Creating Wealth

1
Understanding FIRE: How the Financial Independence Retire Early Movement Applies to You 32:24

1 year ago32:24

32:24

In today's episode, we delve into the FIRE movement—Financial Independence Retire Early. Whether you're new to FIRE or looking to refine your approach, this episode covers what you need to know about applying the FIRE approach to your life. We explore the evolution of FIRE, break down its various types (Lean FIRE, Fat FIRE, Barista FIRE, and Coast FIRE), and discuss who can benefit most from this financial strategy. As fiduciaries—a financial advisor and a CERTIFIED FINANCIAL PLANNER™—we provide an unbiased analysis of the pros and cons of the FIRE movement. You'll gain valuable tips on how to implement FIRE principles into your own financial life, even if you don't fully commit to the movement. Tune in to discover how FIRE can help you achieve financial freedom and rethink your retirement strategy. For any questions, comments, and to suggest topics for the podcast, you can email us at askcreatingwealth@taberasset.com . More Resources: F.I.R.E. For Dummies by Jackie Cummings Koski Follow Your Bliss Choose FI - communities for Financial Independence, Retire Early…

Creating Wealth

1
Timing Matters: When to Merge Finances with Your Partner 24:20

1 year ago24:20