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Dime to Diamonds podcast is a captivating financial podcast designed for everyone, regardless of their current financial knowledge. Whether you're a seasoned investor or just starting out on your financial...
show more
Dime to Diamonds podcast is a captivating financial podcast designed for everyone, regardless of their current financial knowledge. Whether you're a seasoned investor or just starting out on your financial journey, this podcast offers valuable insights and actionable advice to help you achieve your money goals.
Hosted by seasoned financial experts, each episode provides practical strategies for smart money management and savvy investing, making complex financial concepts accessible to all. Tune in to "Dime to Diamonds" and embark on a journey to financial empowerment, no matter where you are starting from.
show less
Hosted by seasoned financial experts, each episode provides practical strategies for smart money management and savvy investing, making complex financial concepts accessible to all. Tune in to "Dime to Diamonds" and embark on a journey to financial empowerment, no matter where you are starting from.
18 NOV 2024 · In this conversation, Suzanne Porske from Dime to Diamonds discusses financial planning and home buying with guests Jason Karn and Wayne R. They explore the importance of getting pre-approved for a mortgage, the role of community in home ownership, understanding mortgage options and credit scores, the correlation between wealth and health, and the steps towards achieving home ownership in the current market.
Takeaways
- Getting pre-approved is the first step in home buying.
- Building relationships is key in the home-building industry.
- Homeownership can significantly impact family trajectories.
- Not everyone has perfect credit, but options exist.
- Understanding credit scores is crucial for home buying.
- Discipline in lifestyle choices leads to better health and financial outcomes.
- Start building credit early for future home ownership.
- Pre-qualification for a mortgage is free and essential.
- The housing market in Oklahoma is experiencing low inventory.
- Incentives from builders can help first-time home buyers.
Sound Bites
- "Getting pre-approved really is the first step."
- "We're in the people business, we just happen to build homes."
- "Homeownership can change the trajectory of an entire family."
Chapters
00:00 Introduction to Financial Planning and Home Buying
06:14 Building Community Through Home Ownership
12:04 Understanding Mortgage Options and Credit Scores
17:52 The Correlation Between Wealth and Health
23:59 Steps Towards Home Ownership and Market Insights
4 NOV 2024 · In this episode of Dime to Diamonds, Suzanne Porske discusses Medicare with experts Rochelle Harp and Vanessa Tillman. They cover the essentials of Medicare, including the open enrollment period, the different parts of Medicare (A, B, D), and the differences between Medicare Advantage and Medigap plans. The conversation emphasizes the importance of understanding prescription drug coverage, the financial implications of Medicare costs, and the role of financial advisors in navigating these complex decisions. They also touch on tax considerations for Medicare beneficiaries and the importance of education and empowerment in making informed choices about healthcare in retirement.
Takeaways
- Medicare open enrollment runs from October 15 to December 7.
- Part A is premium-free and covers hospital expenses.
- Original Medicare has no maximum out-of-pocket limit.
- Medicare Advantage plans can be switched annually without medical questions.
- Part D is essential to avoid lifelong penalties.
- The birthday rule allows for annual changes to supplement plans.
- Medicare costs can significantly impact Social Security benefits.
- Tax implications exist for Medicare premiums and benefits.
- Working with a local financial advisor can provide personalized guidance.
- Education is key to making informed Medicare decisions.
Sound Bites
- "Medicare Advantage doesn't cover everything right?"
- "You will be penalized if you don't."
- "It costs nothing to talk to you?"
Chapters
00:00 Introduction to Medicare and Open Enrollment
02:59 Understanding Medicare Parts A, B, and D
05:49 Medicare Advantage vs. Medigap Plans
08:49 The Importance of Prescription Drug Coverage
12:14 Navigating Medicare Enrollment and Coverage Options
14:46 Financial Implications of Medicare Costs
17:58 Tax Considerations for Medicare Beneficiaries
20:59 The Role of Financial Advisors in Medicare Planning
23:57 Conclusion and Resources for Medicare Assistance
28 OCT 2024 · In this episode, the hosts discuss the impact of AI on investments and the world. They highlight the advantages of AI in analyzing large amounts of data in real time and making informed decisions. They also discuss the importance of the human element in financial planning and the need for emotional aspects and personal touch. The conversation then shifts to long-term care and the challenges with traditional long-term care policies. The hosts explore new ways to approach long-term care, such as incorporating it into life insurance and annuities. They also discuss the benefits of supplemental benefits and how they can offset the increasing cost of healthcare. The episode concludes with a discussion on self-employment and the tax benefits that can be utilized.
Takeaways
- AI plays a crucial role in analyzing large amounts of data and making real-time investment decisions.
- While AI is beneficial, the human element and emotional aspects are still important in financial planning.
- Traditional long-term care policies have limitations, and new approaches like incorporating them into life insurance and annuities offer more flexibility.
- Supplemental benefits can offset the increasing cost of healthcare and provide additional protection.
- Self-employed individuals can take advantage of tax benefits by properly organizing their finances and expenses.
Sound Bites
- "Chill because we have the artificial intelligence that is making those decisions"
- "The predictive power that AI provides being able to analyze such large amounts of data all at once"
- "There are some definite benefits to AI and how it's being used currently"
Chapters
00:00Introduction
01:00The Impact of AI on Investments and the World
09:04Rethinking Long-Term Care: Incorporating it into Life Insurance and Annuities
18:21The Benefits of Supplemental Benefits
25:03Tax Benefits for Self-Employed Individuals
32:08Conclusion
14 OCT 2024 · In this episode of Dime to Diamonds, the hosts discuss various topics including their partnership, community involvement, upcoming events, and personal interests. They also touch on the impact of elections on the stock market and the importance of estate planning and tax strategies. The conversation covers a wide range of subjects, providing insights and advice for listeners.
Takeaways:
- Partnerships and community involvement can lead to great teamwork and support
- The impact of elections on the stock market is not as significant as expected
- Estate planning and tax strategies are important for financial planning
- Having a diverse portfolio and seeking professional help can help mitigate tax implications
- Proper estate planning can avoid probate and provide peace of mind for loved ones
Sound Bites:
- "We've partnered and adopted her. Oh, it's been such a great, great, great, great teamwork."
- "We're just kind of here for the ride."
- "The financial markets are not partisan."
Chapters:
00:00Building a Strong Partnership and Community
06:35The Impact of Elections on the Stock Market
17:41The Importance of Estate Planning and Tax Strategies
30 SEP 2024 · In this conversation, the hosts discuss various financial topics, including the importance of financial planning, the impact of taxes on retirement, and the benefits of supplemental insurance plans. They also touch on the upcoming open enrollment period for healthcare plans and the importance of choosing the right coverage. The conversation concludes with a discussion on the NFL and the hosts' favorite football teams.
Takeaways:
- Having a financial team with different perspectives can lead to better outcomes for clients.
- It's important to be aware of the tax implications of financial decisions, especially in retirement.
- Supplemental insurance plans can provide valuable coverage for unexpected expenses.
- Choosing the right healthcare plan during open enrollment can have a significant impact on finances.
- Planning for retirement should include considerations for long-term care and reducing taxes.
- Maximizing Social Security benefits requires strategic planning based on individual circumstances.
- HSAs can be a valuable tool for reducing taxes and covering healthcare expenses.
- Early financial education is crucial for long-term financial success.
- The hosts have different favorite football teams and enjoy watching the NFL.
Sound Bites
- "We learn so much. I think we kind of bounce great off each other and it helps our clients so much."
- "That's the importance of having a team like we have."
- "Supplemental benefits are a huge game player in many people's finances."
Chapters:
00:00Introduction and Teamwork
13:03Avoiding the Retirement Crisis
18:14Reducing Taxes in Retirement
22:59Medicare and Healthcare
26:25HSAs and Tax Reduction
29:36Maximizing Social Security Benefits
32:31Financial Planning and Peace of Mind
16 SEP 2024 · In this episode, Suzanne Porske, Mark Farquhar, and Rachelle Harp discuss important topics related to sending a child off to college. They cover subjects such as establishing a durable power of attorney, healthcare directives, budgeting, taxes, insurance, and estate planning. They emphasize the importance of being financially organized and prepared for the future.
Takeaways
- Establish a durable power of attorney and healthcare directives for your child before they go off to college
- Create a budget and teach your child about financial responsibility.
- Consider the tax implications of sending a child to college and take advantage of education credits.
- Ensure your child has health insurance and consider renters insurance and car insurance discounts.
- Plan for the future by setting up life insurance policies for yourself and your child.
- Stay organized and keep important documents and financial information in one place.
- Consider gifting money to your child and take advantage of tax-free gift limits.
- Understand the different types of life insurance policies and choose the one that best suits your needs.
- Be aware of the limitations and exclusions of accidental death and dismemberment policies.
- Review your mortgage insurance policy and consider alternative options.
Sound Bites
- "Establishing a durable power of attorney for your now adult child."
- "Medical directives, I cannot stress this enough."
- "Teaching your child about budgeting and financial responsibility."
Chapters
00:00Introduction and Weekend Recap
03:56Preparing Your Child for College: Legal Considerations
07:21Budgeting and Tax Planning for College Expenses
12:29Insurance and Estate Planning for College Students
19:09The Importance of Financial Organization
23:43Life Insurance: Protecting Your Family's Future
26:53Understanding Different Types of Life Insurance Policies
30:32Avoiding Pitfalls: Accidental Death and Dismemberment Policies
34:53Maximizing Tax Benefits: Education Credits and Gift Tax Exemptions
37:44Planning for the Future: Estate Planning and Trusts
2 SEP 2024 · In this episode of Dime to Diamonds, Suzanne Porske and Mark Farquhar discuss the importance of teaching children financial literacy. They are joined by Mason Farquhar, who has published a book on college football recruiting, and Mekala Stiek, a photographer and virtual assistant. The conversation covers topics such as instilling financial responsibility in children, the basics of money management, and the importance of following one's passion. The guests share their personal experiences and offer advice for aspiring entrepreneurs. The episode concludes with a discussion of the challenges and rewards of pursuing one's dreams.
Takeaways
- Teaching children financial literacy is important and should be a part of family conversations and education.
- Instilling financial responsibility in children at a young age can help them make better financial decisions in the future.
- Following one's passion and taking risks can lead to fulfilling careers and personal growth.
- Multiple streams of income can provide financial stability and opportunities for growth.
- Facing obstacles and overcoming challenges is a part of the journey to success.
Sound Bites
- "Teaching children financial literacy is important and should be a part of family conversations and education."
- "Following one's passion and taking risks can lead to fulfilling careers and personal growth."
- "The rewards and challenges of pursuing dreams"
Chapters
00:00Introduction and Importance of Teaching Financial Literacy to Children
08:00Following Your Passion and Taking Risks
12:18The Rewards and Challenges of Pursuing Dreams
13:38Creating Multiple Streams of Income
21:23Overcoming Obstacles on the Path to Success
19 AUG 2024 · In this conversation, Mark and Suzanne discuss various topics related to personal finance and small business ownership. They touch on the importance of estate planning, the role of a financial advisor, the benefits of maxing out 401(k) contributions, and the need for small business owners to file a beneficial ownership report. They also emphasize the value of summer jobs and internships for young people, the strategic use of credit, and the importance of networking. The conversation concludes with a reminder to visit their website for more resources and information.
Takeaways
- Estate planning is crucial for protecting your assets and ensuring a smooth transition for your loved ones.
- Having a dedicated financial advisor can provide valuable guidance and support in managing your finances.
- Maximizing contributions to your 401(k) can lead to significant tax advantages and long-term growth.
- Summer jobs and internships offer valuable opportunities for networking and gaining real-world experience.
- Using credit strategically and understanding your paycheck are important aspects of financial literacy.
- Small business ownership can provide additional income and tax benefits, but it requires careful planning and compliance with filing requirements.
Sound Bites
- "A durable power of attorney is the only power of attorney that works when you're incapacitated."
- "Having a financial advisor in your corner is important for navigating the complexities of personal finance."
- "Maximizing 401(k) contributions is like getting free money and offers significant tax advantages."
Chapters
00:00Estate Planning and Power of Attorney
05:31The Role of a Financial Advisor
15:05Maximizing 401(k) Contributions
18:19The Value of Summer Jobs and Internships
23:32Using Credit Strategically and Understanding Your Paycheck
30:36Small Business Ownership: Benefits and Filing Requirements
6 AUG 2024 · In this conversation, Suzanne Porske and Mark Farquhar discuss the importance of tax planning, especially for women who may be underserved in the financial world. They highlight the need for women to have a trusted source to turn to for financial advice and the importance of incorporating women's goals and perspectives into financial planning. They also discuss the impact of the Tax Cut and Jobs Act, the potential changes in tax laws, and the importance of planning for taxes in retirement. The conversation covers topics such as required minimum distributions, tax deductions, social security taxation, and estate planning. In this conversation, the hosts discuss various topics related to taxes and retirement planning. They touch on the importance of open communication with financial advisors, the impact of taxes on retirement savings, and the need for long-term planning. They also discuss the importance of having a financial notebook and keeping track of expenses. The conversation covers topics such as inherited IRAs, the tax implications of one spouse passing away, and the benefits of having a trust. The hosts also provide tips for newly married couples and individuals starting a side business. They emphasize the importance of organization and documentation when it comes to taxes and financial planning.
Takeaways:
- Tax planning is crucial, especially for women who may be underserved in the financial world.
- Incorporating women's goals and perspectives into financial planning is essential.
- The Tax Cut and Jobs Act had significant implications for retirement planning and tax strategies.
- Planning for taxes in retirement is important, as taxes can have a significant impact on retirement income.
- Understanding required minimum distributions, tax deductions, social security taxation, and estate planning is crucial for effective tax planning. Open communication with a financial advisor is crucial for navigating tax and retirement planning.
- Long-term planning is essential to ensure a smooth transition into retirement and minimize tax implications.
- Having a financial notebook and keeping track of expenses can help with financial organization and tax planning.
- Inherited IRAs and the tax implications of one spouse passing away should be carefully considered and planned for.
- Starting a side business requires financial organization and documentation to maximize tax benefits.
- Having a trust can provide tax advantages and help with the transition of wealth to the next generation.
Sound Bites:
- "I believe to some degree, underserved women."
- "Planning for taxes in retirement is important."
- "Having both sides of it working together."
- "There's a purpose here. There's a higher source."
- "I want to buy it. Like, I wonder if she wants to start a little business or something."
- "How do we make sure we have a plan for the long term?"
Chapters:
00:00Introduction and Perspective on Weight Loss
03:22The Importance of Tax Planning for Underserved Women
07:31Incorporating Women's Goals and Perspectives in Financial Planning
14:32Planning for Taxes in Retirement
26:14Finding Purpose and Higher Source
27:47Long-Term Planning and Open Communication with Financial Advisors
28:17Retirement Planning and Purchasing Luxury Items
29:14The Value and Challenges of Owning Luxury Cars
30:54Tax Strategies for Retirement Savings
31:40Being Proactive and Prepared for the Future
33:14The Benefits of Having a Trust in Estate Planning
35:13The Importance of Open Communication in Financial Planning
36:07Navigating the Tax Implications of Inherited IRAs
37:30Tax Benefits of Home Offices and Small Businesses
39:11Financial Tips for Newly Married Couples
40:39Financial Organization and Documentation for Side Businesses
44:27Maximizing Tax Benefits through Organization and Documentation
45:46The Importance of Financial Organization in All Aspects of Life
48:41Considering Taxes and Retirement Planning
22 JUL 2024 · The conversation covers various topics related to financial planning and organization. The main themes include estate planning, financial organization, marriage and finances, and the importance of early financial planning. The conversation also touches on topics such as retirement planning, debt management, and the role of a financial professional. The hosts emphasize the importance of communication, budgeting, and making informed financial decisions. In this conversation, Mark Farquhar and Suzanne Porske discuss various financial topics, including long-term care strategies, estate planning, Medicare trust, social security planning, and taxes in retirement. They also mention upcoming speaking engagements and workshops. The conversation ends with a discussion of the importance of empowering and educating women in financial matters.
Takeaways:
- Estate planning and financial organization are crucial for ensuring one's assets and financial information are well-organized and easily accessible.
- Early financial planning is important for building wealth and preparing for retirement.
- Communication and budgeting are key in managing finances within a marriage or partnership.
- Working with a financial professional can provide guidance and help individuals make informed financial decisions.
- Debt management and saving for the future are important aspects of financial planning.
- Having open and honest conversations about money before marriage can help couples align their financial goals and values. Long-term care strategies and estate planning are important for financial security.
- Medicare trust can help protect assets from being used for long-term care expenses.
- Social security planning and medical directives are crucial aspects of financial planning.
- Taxes in retirement can be complex and require careful consideration.
- Empowering and educating women in financial matters is essential.
Sound Bites:
- "Estate planning and financial organization are crucial for ensuring that one's assets and financial information are well-organized and easily accessible."
- "Early financial planning is important for building wealth and preparing for retirement."
- "Working with a financial professional can provide guidance and help individuals make informed financial decisions."
- "Long-term care strategies that we provide"
- "Medicare trust, a lot of money if you don't plan for long-term care"
- "Social Security planning, medical directives, all that good stuff"
Chapters:
00:00Introduction and Setting the Stage
01:16The Importance of Estate Planning and Financial Organization
09:48Managing Finances within a Marriage or Partnership
14:27The Role of a Financial Professional in Making Informed Decisions
21:59Having Open Conversations About Money Before Marriage
25:42The Medicare Maze and the Importance of Being Informed
26:33Long-Term Care and Estate Planning
27:04Understanding Medicare Trust
28:03Social Security Planning and Medical Directives
30:12Taxes in Retirement
32:54Empowering Women: Financial Education and Planning
Dime to Diamonds podcast is a captivating financial podcast designed for everyone, regardless of their current financial knowledge. Whether you're a seasoned investor or just starting out on your financial...
show more
Dime to Diamonds podcast is a captivating financial podcast designed for everyone, regardless of their current financial knowledge. Whether you're a seasoned investor or just starting out on your financial journey, this podcast offers valuable insights and actionable advice to help you achieve your money goals.
Hosted by seasoned financial experts, each episode provides practical strategies for smart money management and savvy investing, making complex financial concepts accessible to all. Tune in to "Dime to Diamonds" and embark on a journey to financial empowerment, no matter where you are starting from.
show less
Hosted by seasoned financial experts, each episode provides practical strategies for smart money management and savvy investing, making complex financial concepts accessible to all. Tune in to "Dime to Diamonds" and embark on a journey to financial empowerment, no matter where you are starting from.
Information
| Author | Suzanne Porske |
| Organization | Suzanne Porske |
| Categories | Investing |
| Website | - |
| team@phx.financial |
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