Can't Have Everything
Don tackles the dangerous myth of “safe” high-yield investments, calling out misleading financial advice around covered call funds and non-traded real estate deals. He takes calls on 529 plans vs. UTMA, long-term care insurance pitfalls, robo-advisors for special needs planning, and a shady pitch for a fixed-indexed annuity disguised as a fiduciary recommendation. He ends with a birthday shoutout and a reminder of why good advice matters.
0:04 Greed and the myth of “safe” investments
1:27 Human desire for more with less risk—prime for exploitation
3:02 The illusion of safety: high-yield savings vs. riskier “alternatives”
3:50 Covered call funds are not safe—Don’s own experience
4:42 Non-traded real estate and price illusion
5:22 Financial Flinch Reflex PSA
6:23 How to call the show and why listener questions matter
7:36 529 vs. UTMA for a newborn + Fidelity Zero Fund vs. FSKAX
10:44 529s can convert to Roth IRAs—huge benefit
11:15 Long-term care insurance: costs, limitations, and reality checks
13:57 Hybrid LTC policies: gimmicky, commission-driven
16:34 Premium examples: $5K to $10K/year for minimal coverage
17:53 Funding a disabled daughter’s future using Schwab Intelligent Portfolio
19:50 Dollar-cost averaging lump sums? Don says no—invest now
21:12 Don on vacation guilt and cheap travel habits
22:24 529s owned by a trust—yes, and Utah’s My529 gets Don’s stamp
24:25 More trust pros and Utah’s fee/vehicle advantages
25:42 Listener wary of FIA pitch for TSP rollover—Don smells fraud
27:48 The match, the cap, the “no annuity” claim—Don calls B.S.
29:24 How to verify if someone’s actually a fiduciary
32:43 Why fixed-indexed annuities dodged SEC regulation
34:05 The real reason they’re pushing 70% of your money into an FIA
36:00 Listener calls just to wish Don happy birthday
37:32 Don thanks his audience and reflects on why he keeps doing this
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