The Investor Coaching Show with Paul Winkler

FINRA Considers Competency Test for Complex Investments

Paul and Jim talk about the proposed changes of the Financial Industry Regulatory Authority (FINRA) to complex investment products. In a recent ThinkAdvisor article, industry leaders agreed that some products are too dangerously complex for investors and then debated if a competency test for investors is the right answer. Listen along as Paul and Jim discuss the issues around complex investments and how this kind of test would also create barriers to prudent investing. In the second half of the show, Paul addresses a listener who wanted to know how Paul makes a budget.

To get a copy of our new book, Confident Financial Planning, go to paulwinkler.com/book.

Taking Advantage of Investors During Down Markets

Paul and Jim talk about a company who claims to be practicing evidence-based investing but is really using short-term track records to sell investment products to people who are afraid of current market conditions. Jim encourages you to avoid products that are being sold based on their recent performance because investing is not about getting rich quickly; rather, it’s about building wealth over a lifetime. Paul warns investors not to get stuck in a cycle of ditching one bad investment while the market is down just to buy another one. 

To get a copy of our new book, Confident Financial Planning, go to paulwinkler.com/book.

Recovering From a Loss

This has been a tough year for a lot of investors who realized their portfolios had more risk in them than they thought. Today, Paul encourages the investors who are looking to recover and learn from their mistakes. It is always the right time to diversify and minimize your risk. You never know how markets are going to recover, and you could get hit hard by being overweighted in an area when the market goes down, only to be hit hard again by being underrepresented in the areas that experience the biggest bounce backs. Later in the episode, Paul talks about how inflation could ease government debts. 

To get a copy of our new book, Confident Financial Planning, go to paulwinkler.com/book.

Bonds Taking a Historic Hit

Paul shares the WSJ article “It’s the Worst Bond Market Since 1842. That’s the Good News.” He highlights some common misconceptions that people have about bonds and then explains how inflation affects bond prices. Listen along to hear why Paul doesn’t allow the maturity rates of bonds to get too long and why you should hold on to some cash in a portfolio. Later in the episode, Paul shares three reasons we fall for conspiracy theories.

To get a copy of our new book, Confident Financial Planning, go to paulwinkler.com/book.

Getting Out of a Cycle of Anxiety

Today, Paul explains what anxiety is and how the media and technology affect your mental health, and then he gives some simple, concrete steps to start breaking the cycle of anxiety in your life. Listen along as Paul covers a topic that many struggle with that can negatively affect their financial decisions as well. Later in the episode, inflation has some investors more interested in gold. Paul explains why this is a bad idea. 

To get a copy of our new book, Confident Financial Planning, go to paulwinkler.com/book.

Can You Afford Average Returns?

Calculating how much you need to save for retirement can feel complicated, but today Paul and Evan look to remove some of the guesswork. Listen along as they go by age comparing how much you need to save to get $1 million in retirement assets with average returns versus how much you need to save if you capture the return of the market. Paul warns that it can be costly to check out on your investments. Later in the show, Paul shares an article and explains why inflation has such a negative effect on tech companies in particular.

To get a copy of our new book, Confident Financial Planning, go to paulwinkler.com/book.

An Intro to HSAs

Paul finds an article that says you can stash more away for retirement in your health savings account (HSA). While the IRS has increased limits, Paul doesn’t consider these exclusively retirement accounts. Paul explains why he likes and recommends HSAs for people looking to save irregular or unexpected income or wanting to enjoy the tax benefits on future medical expenses. Listen along if you’re unfamiliar with HSAs and ever worry about covering these kinds of expenses. At the end, Paul shares where consumers should reduce spending due to inflation. 

To get a copy of our new book, Confident Financial Planning, go to paulwinkler.com/book.

Breaking Down the Financial Headlines

Today, Paul opens up the Wall Street Journal and puts himself in the perspective of someone trying to make the right investing decisions. Is now a good time to invest a little extra cash? Should you get out before it’s too late? Listen along as Paul breaks down the financial headlines so you can tune out the noise and relax about money. Later in the episode, Paul shares how the real estate market is less efficient than the stock market and how real estate investment can hurt you in a dynamic economy.

To get a copy of our new book, Confident Financial Planning, go to paulwinkler.com/book.

What Is the Worst Trait of a Financial Advisor?

Paul and Evan have a fun time reading through an article that lists all the potential reasons your advisor might be a bad fit. Listen along to hear which reason is the most dangerous and whether Paul and Evan agree. Later, Paul and Evan joke about how the financial industry twists research into predictions about the future. 

To get a copy of our new book, Confident Financial Planning, go to paulwinkler.com/book.

Some Interesting QCD Options

Knowing the rules about your qualified charitable distributions (QCD) can be complicated or confusing. Today, Paul and Evan talk about some interesting QCD options you might not know about and encourage you to find out if a certain donation will qualify rather than only assuming it will or won’t. Paul encourages you to take advantage of this benefit and make it as impactful as possible.

To get a copy of our new book, Confident Financial Planning, go to paulwinkler.com/book.