Apella - Bellevue

New Episode! "Mom (Dad) and Money"

As parents age, money can get more complicated—bill paying, account access, healthcare decisions, investment management, and eventually the possibility that someone else may need to step in. In this episode, Don and Tom walk through how families can start that conversation before a crisis hits. They cover when to begin talking, what adult children should know about accounts and spending, why durable powers of attorney need to be checked with custodians in advance, and the importance of reviewing wills, beneficiaries, and backup decision-makers. They also talk about the emotional side of these transitions, including independence, trust, and the danger of children projecting their own investing preferences—or financial self-interest—onto aging parents.

Then they answer two listener questions: one about whether it’s time to fire an evasive advisor charging 1% plus expensive funds, and another about alternative career paths in financial planning beyond the traditional CFP route.

0:05 – Intro: the hard conversation families need to have about aging and money
1:00 – When parents—or you—reach the point where financial help may be needed
1:56 – Tom’s family experience and the challenge of stepping in gracefully
3:17 – Why families should talk early about money, spending, and where accounts are held
5:24 – Account access, passwords, and why digital organization matters more than ever
7:38 – Durable power of attorney: why you need one and why custodians should review it in advance
9:01 – Backups for everything: POAs, wills, beneficiaries, and successor decision-makers
10:02 – Why adult children should meet their parents’ financial advisor before a crisis
11:07 – When a trusted advisor can help if parents don’t want children directly involved
11:28 – How to approach the conversation as an adult child without expecting instant control
12:28 – Don’t project your own investing style onto your parents’ retirement portfolio
13:28 – The uncomfortable reality of greed and inheritance influencing family decisions
13:40 – Why this belongs at the top of the planning checklist for older families
14:07 – How to send your own questions to Talking Real Money
14:58 – Listener question: Is it time to fire a wealth manager who won’t answer basic questions?
17:15 – Don and Tom’s verdict on an advisor charging 1% while dodging accountability
18:48 – Listener question: Are there good financial-planning career paths besides becoming a CFP?
20:41 – The regulatory reality of giving investment advice for a fee
22:32 – Relationship roles, planning roles, and the growing specialization inside advisory firms

Questions? Comments? Click!

Mom (Dad) and Money As parents age, money can get more complicated—bill paying, account access, healthcare decisions, investment management, and eventually the possibility that someone…

New Episode! "You Only Live Once"

Why do so many retirees struggle to spend money they’ve spent decades saving? Don and Tom explore the psychology behind retirement spending, including the fear of running out of money, the reluctance to touch principal, and how guaranteed income sources like Social Security, pensions, and even simple immediate annuities can make retirees more comfortable enjoying their wealth. They discuss practical strategies for creating spending confidence, the importance of comprehensive retirement planning, and why delaying meaningful experiences can be riskier than spending. The episode also answers a listener question about setting up a Roth IRA for a teenager and examines the latest uncertainty surrounding 529-to-Roth transfers.

0:05 Introduction: Why retirees struggle to spend money they can afford to spend
1:36 Fear of running out versus fear of missing out in retirement
2:52 Why even millionaires worry about spending their savings
3:51 The saver mentality and the challenge of switching to spending mode
4:47 Research shows many retirees barely touch their nest eggs
5:29 YOLO, aging, and the reality of declining mobility later in life
6:02 Why retirees prefer spending Social Security, dividends, and interest over principal
8:04 Travel, aging, and the danger of postponing experiences
8:49 Creating confidence through retirement planning
9:56 Using Social Security and RMDs to cover essential expenses
10:12 Flexible withdrawal strategies for retirement spending
11:39 Could a simple immediate annuity help retirees spend more confidently?
12:42 Healthcare costs, aging, and changing spending patterns
13:30 Recency bias and how it distorts retirement decisions
14:48 Why lifelong savers have trouble becoming spenders
16:27 Summer slowdown and a request for more listener questions
17:58 Listener question: Setting up a Roth IRA for a 19-year-old daughter
19:16 Evaluating Avantis ETFs and M1 Finance for a young investor
19:48 Why a single-fund solution may be better for small accounts
20:56 The importance of emerging markets exposure
22:40 Understanding 529-to-Roth IRA transfer rules
24:33 The unanswered question of beneficiary changes and the 15-year rule

Questions? Comments? Click!

You Only Live Once Why do so many retirees struggle to spend money they’ve spent decades saving? Don and Tom explore the psychology behind retirement spending, including the fear of r…

New Episode! "Summer Travel Tips"

Tom welcomes consumer advocate and longtime journalist Herb Weisbaum to discuss the surprisingly expensive and increasingly chaotic summer travel season. Herb explains why airfare and travel costs remain elevated, why airline prices may not fall even if fuel costs eventually decline, and how travelers can save money through flexibility, airline perks, and smart planning. The conversation also explores travel insurance, airline schedule cuts, baggage fees, vacation-rental scams, fake airline customer-service numbers, and the importance of using credit cards rather than debit cards for travel purchases. The episode is packed with practical consumer-protection advice for anyone traveling this summer.

0:05 Introduction to consumer advocate Herb Weisbaum and the challenges facing travelers this summer.
0:55 Airfare surge: domestic fares up roughly 18% year over year and international fares up about 8%.
1:23 Why airline ticket prices may stay high even if fuel costs eventually decline.
2:38 Airline executives signal that fare increases could become permanent if demand remains strong.
3:10 Strong travel demand despite higher prices and the impact of reduced low-cost competition.
3:42 Concerns about consumers financing vacations with credit cards and buy-now-pay-later programs.
4:36 Strategies travelers can use to reduce costs despite rising fares.
4:58 Rising checked baggage fees and how airline credit cards or elite status can help avoid them.
5:42 The value of flexible travel dates and considering less-crowded destinations.
6:30 Why booking trips sooner rather than later may be advantageous.
7:04 Travel insurance considerations, including “cancel for any reason” coverage.
7:39 Basic travel insurance limitations and war-related exclusions.
8:03 Airlines reducing schedules and eliminating routes because of fuel and operational pressures.
8:42 International carriers cutting thousands of flights and what it means for travelers.
9:24 Why this may be the most unpredictable travel season since the pandemic.
10:02 Practical advice for travelers facing uncertainty and disruptions.
10:18 The importance of airline apps for rebooking and managing travel disruptions.
10:42 Growing scams involving fake airline customer-service phone numbers appearing in search results.
11:46 A simple clue that a customer-service number may actually be a scammer.
12:19 Credit cards versus debit cards for travel purchases and fraud protection.
13:57 Why wire transfers, cryptocurrency payments, and peer-to-peer apps create major consumer risks.
14:58 Vacation rental scams involving major booking platforms.
16:25 A real-world family reunion rental scam and the challenges of obtaining refunds.
18:03 Differences between how major vacation-rental platforms handle payments and disputes.
18:59 World Cup travel, ticket scams, and avoiding fraudulent offers.
20:50 Why major events create ideal conditions for scammers.
21:46 Herb shares where listeners can find his articles, podcast, and consumer resources.

Questions? Comments? Click!

Summer Travel Tips Tom welcomes consumer advocate and longtime journalist Herb Weisbaum to discuss the surprisingly expensive and increasingly chaotic summer travel season. Herb expla…