The Investor Coaching Show with Paul Winkler

The Bitcoin 2024 Conference Comes to Nashville

Today, Paul talks about the Bitcoin 2024 conference, an event that recently came to Nashville and got a lot of local and national attention. Amid all the hype of VIP lounges, star-studded panels, and media frenzy, Paul wants you to know that Bitcoin hasn’t fundamentally changed since its invention in 2008. Paul explains why Bitcoin evangelists constantly preach similar messages about how Bitcoin will revolutionize the financial industry and turn average investors into wealthy, modern, and savvy investors. Paul wants you to know that confident investors don’t take risks they aren’t fairly compensated for and don’t chase products to feel significant or intelligent. Later in the episode, Paul talks about how he assumed a mortgage on his first house and how almost 23% of mortgages in the United States are currently assumable.

 

For more information about what we do or how we can help you, schedule a 15-minute call with us here: paulwinkler.com/call.

Annuity Claims to Offer a 20% Premium Bonus as a Sales Pitch

Dan has a client bring in a product offer that claims to have a 20% premium bonus, but Dan looks into it and quickly realizes that this isn’t really in anyone’s best interest but the insurance company selling it. Then, Paul shares his biggest complaint about annuity sales. Listen along to hear why insurance companies keep morphing their products to address problems people know about while creating new problems that are hard to understand. Later in the episode, Paul shares a clip that says Bitcoin is a good asset to own because it doesn’t move in the same direction as markets. Paul is very skeptical of that claim because we only have about 10 years of data so far on Bitcoin and it has been very rocky.

 

For more information about what we do or how we can help you, schedule a 15-minute call with us here: paulwinkler.com/call.

What Is Tax Lien Investing?

Nik mentions an ad that has been popping up all week on the YouTube videos he’s watching about a Tax Lien Workshop coming to Nashville soon. Nik asks Paul, Evan and Dan to explain what tax lien investing is and if there is any merit to it. Listen along as the advisors clearly explain tax lien investing principles and explain why people who are selling workshops or insider information about investing are usually profiting more from the worksop than they are from the investing itself. Later in the episode, Paul talks about how China used debt to force real estate growth and how it is coming back to hurt them economically.

 

For more information about what we do or how we can help you, schedule a 15-minute call with us here: paulwinkler.com/call.

Final Guidelines from IRS on Secure Act 2.0 Inherited IRA Rules

Since the Secure Act 2.0, inherited IRAs must be emptied within 10 years of the death of the original owner. The problem was that the IRS was not specific about how the money needed to come out during this time. Today, Evan shares the final rules about withdrawing money from inherited IRAs and how the schedule of withdrawals is largely determined by whether or not the previous owner was taking RMDs before they passed. Later in the show, Evan brings up two great examples where investors have been interested in getting too creative with bonds in their portfolio and they have put themselves at unnecessary risk because of it. 

 

For more information about what we do or how we can help you, schedule a 15-minute call with us here: paulwinkler.com/call.

Paul and Evan React to Trump Rally Shooting, Then Discuss Gold vs. Stocks

Paul and Evan reconnect after the third hour of the show didn’t air live last week due to breaking news around the failed assassination attempt on the former President. They explain how the uncertainty around the news regarding the shooting and regarding the other side of the ticket are what is causing the markets to dip. Next, Paul and Evan have a conversation about gold dealers’ biggest sales pitch – that it protects investors from inflation and economic disaster. Paul and Evan explain why people who sell gold work create fear around the dollar and stock markets and offer gold as the best alternative. Listen along as the advisors reveal the returns of both stocks and gold after inflation and encourage investors not to trust gold advertisements but well documented, Nobel Prize-winning strategies. Later, Paul and Evan talk about banks dumping real estate loans.  

For more information about what we do or how we can help you, schedule a 15-minute call with us here: paulwinkler.com/call.

Do Not Get Estate Planning Advice from Famous People

Today, Evan finds some with a large online following encouraging everyone to have a trust in their estate plan. The first red flag about this advice is that this person is not an estate planning lawyer nor are they a financial advisor. Today, Paul and Evan talk specifically about the trouble with the advice about trusts from this social media post, and then they get into a larger conversation about why getting financial advice from family, friends, and famous people you trust is dangerous and can lead to all kinds of bad financial decisions. 

For more information about what we do or how we can help you, schedule a 15-minute call with us here: paulwinkler.com/call.

“I Have No Idea If I’m Saving Enough”

Today, Paul brings an article that highlights a young woman who can’t relax about money because she doesn’t know if she’s even saving enough. Most people don’t realize that it is possible to forecast what your retirement savings and income will look like based on your current savings plan. Listen along as Paul shares a lightbulb moment in his early career about this and explains what you need to know to take the mystery out of the process. Paul also cautions that the financial industry is quick to sell products based on the promise of safety and stability in retirement, but that most of these products are better for the people that sell them than they are for the buyer. Later in the episode, Paul and Evan talk about an alarming increase in consumer credit card debt.

For more information about what we do or how we can help you, schedule a 15-minute call with us here: paulwinkler.com/call.

The President Is Facing a Common Dilemma Around Employment and Retirement

For the last month, the national conversation around the president has focused on whether or not he should consider transitioning away from working life due to his age. This transition is something that financial planners help people plan for all the time. Today, Paul shares some recent quotes from Arthur Brooks on the topic and explains why every employee faces two choices: to leave before they feel ready or to be pushed out by their employer. Later in the episode, Evan explains a glaring similarity between Capital Hill and Wall Street: people in power have a hard time admitting they’ve made mistakes. 

 

For more information about what we do or how we can help you, schedule a 15-minute call with us here: paulwinkler.com/call.

Good Advice for Those Getting Started (Part 2)

This week Paul met with the 20-year-old son of a longtime friend after the young man expressed interest wanting to start his marriage relationship with money off on the right food. As he told him: whether you're just getting started yourself or you have children or grandchildren who are beginning to get out on their own, there are a few things you should know about saving, investing, and debt, and some bad advice you should avoid. Listen along to the first part of this conversation as Paul talks about what impressed him from this meeting and covers topics like debt, 401(k) plans, and buying a home. 

 

For more information about what we do or how we can help you, schedule a 15-minute call with us here: paulwinkler.com/call.

Good Advice for Those Getting Started (Part 1)

This week Paul met with the 20-year-old son of a longtime friend after the young man expressed interest wanting to start his marriage relationship with money off on the right food. As he told him: whether you're just getting started yourself or you have children or grandchildren who are beginning to get out on their own, there are a few things you should know about saving, investing, and debt, and some bad advice you should avoid. Listen along to the first part of this conversation as Paul talks about what impressed him from this meeting and covers topics like debt, 401(k) plans, and buying a home. 

 

For more information about what we do or how we can help you, schedule a 15-minute call with us here: paulwinkler.com/call.