In the first episode of season 2, Reign Over Money continues to unlock the ROM Diamond with the subject of Asset Allocation. Kevin tries to simplify the subject and relays to the audience his long-time allocation guidelines. Kevin also introduces the Callan Periodic Table of Investment Returns as a nice research piece.
In this episode Reign Over Money focuses on how you go about getting money from your retirement account or brokerage account into your bank account to spend when needed. Many investors understand how to put money away for retirement or savings but many don’t understand how to access their money when they need it.
Anyone that invests in retirement plans through an employer already uses dollar cost averaging (DCA). Its quite simply the easiest and surest way to grow your investments over time. DCA takes the psychological burden of the daily stock market grind out of your hands and with constant, periodic, investments that can capitalize on the down trends in the market and reap the benefits of the up markets.
In Episode 16 Kevin takes advantage of Kentucky Derby week to talk about the difference in investing, speculating and gambling. Setting guardrails for how much money you put into each category can set you up for success in the future and make each an enjoyable adventure.
Spending some time introducing the flexible and important brokerage account. Much of the focus with investing is on retirement, but non-retirement investing is another valuable piece to the puzzle. This episode focuses on the difference of a traditional brokerage account and the benefits it can give an investor for many different options.
Opening up the discussion on Retirement Planning, touching on some of the inputs that go into planning for retirement along with introducing probably the most popular way to draw down funds in retirement, the 4% Rule. More in depth episodes will follow down the road.
Here is the link for all to play around with. I’ll do a tutorial at some point in the near future about how I utilize the tool to get the most out of it.
Breaking down the differences in the two terms. The focus on Episode 13 is on the holistic process of financial planning with retirement planning coming in the next episode of Reign Over Money. The financial planning discussion focuses on what all goes into a financial plan and Kevin discusses a tool he has used for years to track his financial plan, The Flexible Retirement Planner.
We’re talking about ways to take advantage of current interest rates and earn more on lazy money that just may be hanging out in your bank account earning very little. Also, a high-level overview of additional interest earning options such as tax-free bonds and dividend paying stocks for those willing to take on a bit more risk.
In Episode 11 I mentioned multiple Chase and Capital One Rewards cards that stand out. I’ve added links to both for review and also comparison.