This week's blogpost - https://bahnsen.co/3XPJNko

Finding Wisdom in the Age of Artificial Intelligence: Navigating Investing, Emotions, and Technology

In this episode of the Thoughts and Money Podcast, host Trevor Cummings and co-host Blaine Carver delve into the implications of artificial intelligence on the stock market and broader economy. Cummings, who authored a blog post titled 'Looking for Wisdom in a World of Artificial Intelligence,' discusses the importance of emotional intelligence (EQ) over IQ in investing, sharing insights on avoiding emotionally driven bad decisions. The discussion covers the risks and rewards of contrarian investing, emphasizing that being right is crucial, and the importance of wisdom and experience in financial planning. The episode concludes by exploring how AI can enhance, but not replace, the essential human element in financial advising and decision-making.

00:00 Introduction to the Thoughts and Money Podcast

00:17 The Rise of Artificial Intelligence in 2025

02:49 The Importance of Temperament in Investing

12:12 Contrarian Investing: Being Right Matters

20:12 The Both-And Philosophy at The Bahnsen Group

22:03 Embracing Technology with Timeless Wisdom

28:31 Conclusion and Listener Engagement

Links mentioned in this episode:

• http://thoughtsonmoney.com
• http://thebahnsengroup.com

This week's blogpost - https://bahnsen.co/48y6UVz

Understanding Credit Scores: A Personal Journey and Practical Advice

In this episode of the Thoughts on Money Podcast, host Trevor Cummings and guest Blaine Carver explore the intricacies of credit scores. Trevor shares a personal story about discovering the complexities of credit scores when purchasing a second home. The discussion covers the surprising statistic that the average age of first-time home buyers is now 40, up from 28 in 1991. The episode delves into the various factors that impact credit scores, including payment history, derogatory marks, credit age, total accounts, hard inquiries, and credit usage. Practical advice is given on managing credit, highlighting the importance of being proactive in monitoring and optimizing one's credit score for better mortgage rates. This episode aims to educate listeners on the importance of credit scores and offers actionable tips to improve them.

00:00 Welcome to the Thoughts on Money Podcast

00:31 The Rising Age of First-Time Home Buyers

03:04 Understanding Credit Scores

06:45 The Importance of Credit Usage

07:12 A Personal Story: Buying a Second Home

11:46 Strategies to Improve Your Credit Score

17:31 The Impact of Simplicity on Credit Scores

18:33 Strategies to Increase Your Credit Limit

19:01 Understanding Credit History and Its Effects

20:33 The Importance of Monitoring Your Credit

21:31 Key Factors That Influence Your Credit Score

21:58 Real-Life Credit Score Challenges and Solutions

23:16 Proactive Steps to Improve Your Credit Score

25:38 The Role of Credit Mix and Total Accounts

29:50 Final Thoughts on Credit Scores and Home Buying

Links mentioned in this episode:

• http://thoughtsonmoney.com
• http://thebahnsengroup.com

This week's blogpost - https://bahnsen.co/4og2etf

Understanding the Kyle Busch vs. Pacific Life Insurance Controversy

In this episode of the Thoughts On Money Podcast (Tom), host Blaine Carver, joined by Sarah Leitzke, The Bahnsen Group’s Director of Risk, discusses Kyle Busch's lawsuit against Pacific Life. The conversation covers the roles and importance of life insurance, how it can be both beneficial and detrimental, and the complexities involved in different types of life insurance policies. Sarah elaborates on the mismanagement and misleading marketing in the Busch case, highlighting issues such as unpaid premiums, policy lapses, and the consequences of an improperly managed Indexed Universal Life (IUL) policy. The episode encourages listeners to carefully examine financial advice, consider the qualifications of their advisors, and understand the intricate details of their insurance policies.

00:00 Welcome to the Thoughts On Money Podcast

00:09 Meet the Hosts: Blaine and Sarah

00:47 Understanding the Role of Director of Risk

01:46 Kyle Busch vs. Pacific Life: An Overview

02:06 The Metaphor of Insurance: Tools for Good or Harm

04:23 Breaking Down the Kyle Busch Case

07:26 Marketing and Mismanagement in Insurance

11:06 Term vs. Permanent Insurance: Key Differences

17:18 The Impact of Employment on Insurance Premiums

21:00 The Importance of Trustworthy Advice

29:24 Inside The Bahnsen Group's Risk Department

33:14 Final Thoughts and Takeaways

Links mentioned in this episode:

• http://thoughtsonmoney.com
• http://thebahnsengroup.com

This week's blogpost - https://bahnsen.co/47EvNQc

Navigating Long-Term Care: Get It or Forget It?

In this episode of the Thoughts and Money Podcast, hosts Trevor Cummings and Blaine Carver dive into the complexities of long-term care insurance. They discuss the increasing relevance of long-term care conversations among younger clients, especially those in their late forties and fifties. They explore the financial and emotional considerations of securing long-term care insurance, the impact of healthcare costs, and how these decisions affect a comprehensive financial plan. The episode also covers the evolution of long-term care policies, the pitfalls of older policies, and the importance of proactive planning. Whether self-insured or seeking coverage, understanding the nuances of long-term care can help mitigate future financial risks.

00:00 Introduction to the Podcast

00:16 Inspiration Behind the Article

01:12 The Sandwich Generation

02:13 Insurance and Risk Management

03:57 The Reality of Long-Term Care

06:46 Challenges with Long-Term Care Insurance

10:20 Hybrid Insurance Policies

13:45 Statistics and Financial Planning

17:22 Understanding Self-Insurance

18:28 Gender Differences in Long-Term Care

19:16 The Importance of Financial Planning

21:02 Personal Experiences with Long-Term Care

23:38 Risk Management and Insurance

27:13 Asset Allocation and Long-Term Care

32:35 Concluding Thoughts and Recommendations

Links mentioned in this episode:

• http://thoughtsonmoney.com
• http://thebahnsengroup.com

This week's blogpost - https://bahnsen.co/48Xhibo

Mastering Year-End Financial Planning: Contributions, Tax Strategies, and Generosity

In this episode of the Thoughts on Money Podcast, hosts Trevor Cummings and Sean Ullrich dive into year-end financial planning strategies. They discuss the importance of being proactive with financial and tax planning as the year closes, including various Roth IRA strategies, tax planning measures, and charitable giving options. Trevor and Sean highlight the necessity of preparing for the end of the year well in advance to avoid bottlenecks and maximize benefits. Additionally, they emphasize proper portfolio management, especially given recent strong market performance, and encourage reviewing previous tax returns for further planning insights. From maximizing 401k contributions to exploring donor-advised funds, they offer listeners actionable advice to improve their financial standing while concluding the year on a generous note.

00:00 Introduction and Guest Introduction

00:53 Discussing the Importance of Proactive Financial Planning

02:03 Analogies Between Sports and Financial Planning

04:25 Key Financial Planning Strategies

14:20 Tax Planning Insights and Strategies

27:15 Charitable Giving Strategies

34:11 Investment Strategy and Market Performance

39:21 Conclusion and Listener Engagement

Links mentioned in this episode:

• http://thoughtsonmoney.com
• http://thebahnsengroup.com

This week's blogpost - https://bahnsen.co/3WlUXwC

Mastering the Art of Investing: The ‘Tell Me More’ Approach

In this episode of the Thoughts. So Money podcast, hosts Trevor Cummings and Blaine Carver dive into the critical topic of timeshares, using it as a springboard to discuss the importance of maintaining an inquisitive mindset in investing. They emphasize the value of asking more questions, understanding the difference between earnings growth and multiple expansions, and the necessity of being aware of portfolio concentration. The conversation also explores boom and bust cycles and how to avoid being caught on the wrong side of market fluctuations. Through relatable analogies and real examples, they advocate for a thoughtful and cautious approach to investing, aiming to create sustainable growth while avoiding speculative pitfalls.

00:00 Introduction and Welcome

00:16 The Allure and Pitfalls of Timeshares

01:04 Skepticism in Investing

04:16 The 'Tell Me More' Principle

07:10 Understanding Portfolio Movements

08:20 The Role of Concentration in Investing

12:16 Earnings Growth vs. Multiple Expansion

18:53 Understanding Boom and Bust Cycles

19:09 The Importance of Attribution in Finance

20:09 Concentration in the S&P 500

21:26 Sector Analysis and Market Performance

22:32 The Impact of Sentiment on Stock Prices

25:07 Speculation vs. Investment

25:20 The Role of Price-Earnings Ratios

29:39 Concentration and Sustainability

29:54 The Boom and Bust Cycle Explained

36:32 Behavioral Coaching in Finance

38:26 The Concept of Yield on Cost

39:55 Final Thoughts and Listener Engagement

Links mentioned in this episode:

• http://thoughtsonmoney.com
• http://thebahnsengroup.com

This week's blogpost - https://bahnsen.co/48suqVy

Navigating Financial Strategies: Running Your Race, Taking Inventory, and Understanding Liquidity

In this episode of the Thoughts and Money Podcast (TOM), host Trevor Cummings discusses three timeless pieces of financial advice: 'Run Your Race,' 'Take Inventory,' and the 'Unappreciated Value of Liquidity.' Trevor shares his insights on focusing on individual financial goals, regularly reviewing and consolidating financial assets, and maintaining sufficient liquidity to manage unexpected financial needs. The discussion also highlights the importance of sticking with a chosen investment strategy, avoiding the pitfalls of chasing returns, and the balance between liquidity and opportunity cost. Listeners are encouraged to continuously update and simplify their financial plans to ensure alignment with their goals and readiness for unforeseen circumstances.

00:00 Welcome to the Thoughts and Money Podcast

00:36 Three Unrelated Pieces of Advice

01:22 Run Your Race: Focus on Your Goals

01:59 The AI Bubble and Investment Strategies

06:03 The Importance of Sticking to Your Strategy

15:31 Taking Inventory: Understanding Your Assets

18:06 Taking Inventory: The Foundation of Financial Planning

19:06 Reconciling Accounts and Ensuring Alignment

19:59 The Importance of Simplification and Efficiency

20:48 Real-Life Examples of Financial Inventory

23:24 Understanding Liquidity and Access to Funds

31:04 Balancing Redundancy and Risk Management

34:04 Concluding Thoughts and Practical Advice

Links mentioned in this episode:

• http://thoughtsonmoney.com
• http://thebahnsengroup.com

This week's blogpost - https://bahnsen.co/46XjbC4

Join Blaine Carver and special guest Darren Lightfoot, as they discuss key investment philosophies, inherent biases, and the importance of challenging your own viewpoints. In this episode, they explore confirmation bias, recency bias, and the danger of herd mentality in investment decisions. They also emphasize the need for a disciplined investment strategy, the benefits of occasional check-ins, and learning from past decisions. This insightful episode provides practical advice for individual investors and highlights the value of having a detailed investment plan and accountability.

00:00 Introduction and Welcome 00:22 The Mirror: A Humorous Marriage Story 01:54 Investment Committee Insights from New York 02:49 Understanding and Challenging Biases 05:23 Confirmation Bias: The Optimistic Vikings Fan 11:58 Recency Bias: Lessons from Seattle 16:10 Herd Mentality and FOMO in Investing 18:31 The Importance of Self-Reflection and Game Film 26:18 Final Thoughts and Practical Advice 29:33 Podcast Conclusion and Disclaimers

Links mentioned in this episode:

• http://thoughtsonmoney.com
• http://thebahnsengroup.com