Episodes

Don flies solo on this episode of Talking Real Money, fielding calls and calling out the nonsense in fancy investment gimmicks. From market-neutral funds to buffered ETFs, he lays out the case for simplicity, diversification, and discipline over complexity and high fees. Along the way, he compares real-world returns of flashy funds to the humble Vanguard Balanced Index, explains the math behind risk and reward, and gently teases listeners dabbling in covered calls and premium farming. With real ...

In this episode of Talking Real Money, Don McDonald and Tom Cock discuss practical strategies for navigating recessions without panic or unnecessary market timing. They critique the constant, fear-driven speculation around economic downturns and emphasize maintaining a disciplined, long-term approach. Highlighting actual investor behavior from Dalbar studies, they explain why market timing almost always results in poorer returns. Tom humorously criticizes aggressive pickup truck drivers and touc...

Don and Tom explore the role of risk, resilience, and rational investing as they tackle stock market uncertainty, Roth conversion confusion, and Robinhood’s attempt to lure new users. They mix in practical advice with plenty of caller questions—plus a detour into air-dried laundry, social media skepticism, and an appreciation for the film Tune Out the Noise. It's Talking Real Money in its purest form: smart, skeptical, and occasionally funny. 0:04 Intro: Making money more understandable 1:09 T...

Wild market swings, political chaos, and investor confusion set the stage for this episode. Don and Tom break down the emotional impact of volatility, the myths of market timing, and the wisdom in sticking to long-term plans. With insights from Jason Zweig and some smart listener Q&A, they remind us that discipline—not prediction—is what builds wealth, even in uncertain times. 0:01 Intro with the 'interesting times' curse and the current market confusion 0:48 S&P 500 drops 10.5% in two days, b...

In this classic swirl of candor, humor, and financial sense, Don and Tom tackle the human habit of financial foolishness—from betting big on speculative ETFs to ignoring global diversification. They call out the irony of investment products like ELON, roast the current state of the Motley Fool, and offer real-world perspective on international investing, market timing myths, and retirement portfolio design. They even sprinkle in a few thesaurus gems for good measure. 0:04 Welcome and warning: t...

It’s a full-on Q&A Friday as Don tackles listener questions on account consolidation, fund choices, proper bond allocation, and portfolio construction. From dissecting the merits of AVGE vs. DFAW vs. VT+AVUV, to helping federal employees estimate how much to save, and even clearing up confusion about average returns—this episode is a masterclass in real-world investing for every phase of life. Whether you’re building your portfolio, nearing retirement, or just trying to clean up a financial mish...

Don and Tom put popular retirement rules of thumb under the microscope—testing everything from the 4% withdrawal rule to the idea of downsizing your home in retirement. With equal parts logic and skepticism, they explore whether these oft-repeated guidelines still hold up in today's financial landscape. Along the way, they touch on portfolio construction, social security timing (with Don’s real-life dilemma), and why rules are made to be... at least bent. Plus, a few listener questions round out...

This episode dives deep into the market’s latest mood swing and the potential impact of new tariffs on consumer costs—like the real price of your next iPhone. Don and Tom explain what tariffs are, how they work, and why they’re likely to fuel inflation. Plus, they tackle a range of listener questions, from the risks of fixed-income annuities and rebalancing portfolios, to why bonds (yes, still) deserve a place in your portfolio. And of course, they throw shade at both annuity commissions and sel...

In this episode, Don and Tom address the market’s recent correction—without ever saying the “D-word.” They explain how global diversification cushions the blow, why balanced portfolios aren’t as battered as headlines suggest, and how reacting emotionally is the real danger. They also dive into classic investing mistakes, like stock concentration and chasing headlines, and share guidance on rebalancing thresholds. Listener questions include when to rebalance, how to strategically tap accounts in ...

In this episode of Talking Real Money, Don and Tom sound the alarm on a troubling trend: more people are dipping into their 401(k)s for emergencies. While hardship withdrawals are allowed under IRS rules, they come with serious penalties, taxes, and long-term setbacks. The hosts stress the importance of building an emergency fund before maxing out retirement contributions to avoid turning your future into a piggy bank. They also respond to questions about how to find fiduciary advisors and criti...

It’s Q&A Day on Talking Real Money, and Don tackles listener questions on everything from crypto and REITs to emergency funds and IRA contributions. He reiterates his firm stance against crypto as an investment, warns about the risks of individual REITs, and supports diversified REIT funds for long-term portfolios. Don also confirms that yes, you can contribute to a Roth for 2024 and a traditional IRA for 2025 in the same calendar year, as long as you stay within annual limits. Emergency cash? A...

In this episode of Talking Real Money, Don and Tom dive deep into the question of whether long-term investing in stocks truly guarantees returns. Challenging the conventional wisdom, they examine research by Professor Edward McQuarrie that reveals 10- and even 30-year periods in U.S. and international markets where investors lost money—especially when adjusting for inflation. Despite these sobering findings, the hosts reaffirm their belief in equity markets, emphasizing diversification and the h...

At Talking Real Money, we emphasize fundamental financial principles like disciplined saving, diversification, and cautious investing—highlighted this episode through insights on wealth distribution in America, noting that successful financial outcomes depend heavily on diligent saving and investing, particularly in equities, businesses, and real estate. We caution against chasing high-dividend stocks, explaining their risks and why they're often poor investment choices compared to a broadly div...

At Talking Real Money, we’re here to reinforce core investing principles: diversify, plan carefully, and never attempt to predict market swings—a point underscored by famed hedge fund manager Ray Dalio, who advocates holding multiple uncorrelated asset classes rather than timing market downturns. Dalio warns of economic shocks comparable to past crises like the dot-com bust but emphasizes preparation, not prediction, urging investors to diversify across stocks and bonds to mitigate volatility. W...

At Talking Real Money, we consistently emphasize that investing requires diversification, low costs, planning, and acknowledgment that predicting the future is impossible—a lesson humorously highlighted by the saga of Argentina's 100-year bond. Originally mocked after Argentina defaulted in 2020, this bond, offering an initially enticing 7.9% yield, remarkably bounced back following political reforms under Javier Milei, outperforming both U.S. Treasuries and Austria's similar bond, which lost ar...

On this Friday's episode of Talking Real Money, Don McDonald continued his weekly tradition of answering listener questions, covering practical financial concerns in a straightforward and engaging way. He tackled questions ranging from understanding bid-ask spreads when purchasing ETFs, to choosing the best short-term investment options, such as high-yield savings, CDs, and money market funds. Don also clarified the subtle differences between various Vanguard money market funds, providing gui...

On today's Talking Real Money, Don McDonald welcomed two special guests from Dimensional Fund Advisors (DFA)—founder David Booth and co-CEO Dave Butler—to discuss their unique investment philosophy and the importance of tuning out financial noise. The conversation centered around DFA's documentary, "Tune Out the Noise," which emphasizes an academically-based investment strategy focused on sensible, disciplined investing rather than market timing and stock picking. Don and his guests explained...

On today's Talking Real Money, Don and Tom dug deep into some surprisingly terrible mutual funds—those wealth destroyers that somehow manage to lose investors piles of money year after year. They highlighted the infamous ARK funds, which collectively burned through billions, and even exposed a Fidelity long-term treasury bond index fund that unexpectedly landed among the biggest losers over the past decade, illustrating precisely why they've been cautioning against holding long-term bonds. Al...

Hosts Don McDonald and Tom Cock discuss timely market volatility, emphasizing the importance of maintaining diversified global portfolios rather than reacting to short-term market shifts. They address listener concerns, including the complexities of decumulation in retirement and the critical value of seeking personalized financial planning from fiduciary advisors, particularly during life's transitions. Using real-life scenarios, they illustrate how seemingly minor financial decisions, like the...

Hosts Don McDonald and Tom Cock emphasize the critical importance of hiring a fiduciary financial advisor, legally required to act in your best interests and transparently disclose conflicts of interest, such as fees and commissions. They caution listeners against advisors who misleadingly claim fiduciary status and advise verifying credentials through reliable resources like FINRA's BrokerCheck. By reviewing documents like Form ADV Part 2, investors can clearly identify conflicts of interest an...

It’s Friday, and you know what that means — Q&A day! We tackled five great listener questions, starting with a deep dive into why that seemingly “safe” $71,000 annuity actually shortchanges you compared to a basic 4% Treasury ladder or a modest balanced portfolio. Then we crunched the numbers on HSAs and proved that investing the tax savings can indeed leave you ahead — despite what your accountant might say. Municipal bonds made an appearance, too, as we broke down the breakeven math for differ...

Imagine a world where investment firms actually worked in your best interest and financial regulators had your back—yeah, keep dreaming. The reality is getting worse, not better. The latest proof? A flood of sketchy "investment opportunities" dressed up as safe and innovative. Take the new PRIV ETF, which claims to focus on "investment grade" private credit—except 95% of its holdings are junk-rated. Or BlackRock sneaking Bitcoin into its model portfolios, giving investors exposure to one of the ...

Another day, another batch of money myths to bust. In this episode of Talking Real Money, Tom and Don take a sledgehammer to the idea that becoming a millionaire requires some kind of magical stock picking, insane work hours, or pure dumb luck. Spoiler: It’s mostly about spending less than you make, investing consistently, and avoiding financial landmines (like high-interest debt). A listener asks whether bonds are still the best diversifier in a portfolio, which leads to a deep dive into why no...

In this episode of "Talking Real Money," hosts Don McDonald and Tom Cock address recent market volatility, emphasizing that despite headlines about markets "nosedives," the S&P 500 is still up 10% over the past year and only down 4.4% year-to-date, while globally diversified portfolios have fared even better with minimal losses. They criticize alarming financial media headlines that cause investor panic and warn that emotional reactions to market fluctuations are more damaging to portfoli...