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In this episode, I talk about the rapid rise in interest rates and the three personal finance implications to look out for. Key Timestamps: 00:00 Introduction00:58 Why Rates Are Rising02:47 Impact One Borrowing Costs04:43 Impact Two Cash Matters06:47 Impact Three Investing Shifts09:40 Conclusion And Action Steps More of Baskin Financial Planning: Think you might be a good fit form my firm? ⁠⁠⁠⁠⁠⁠Join the waitlist here! Questions or comments, drop me a note at: ⁠⁠[email protected]⁠⁠ ⁠⁠www.baskinfp.com/post/81

In this episode, I talk about why I am not recommending Trump Account contributions beyond any free money, and how to save for your kids instead. Key Timestamps: 00:00 Introduction and What Trump Accounts Are03:56 Problem 1: Kiddie Tax07:07 Problem 2: Inflexibility08:44 Problem 3: State Taxes10:24 How to Save for Kids15:14 Summary and Wrap UpResources Mentioned: Trump Account Website to Open and Manage Accounts$250 Dell Foundation Contribtuon Zip Code Lookup‍ More of Baskin Financial Planning: Think you might be a good fit form my firm? ⁠⁠⁠⁠⁠⁠Join the waitlist here! Questions or comments, drop me a note at: ⁠⁠[email protected]⁠⁠ ⁠⁠www.baskinfp.com/post/80

In this episode, I talk about the Iran War and its' implications on markets and personal finance. ‍ Key Timestamps: 00:00 Introduction 01:47 How Markets React to Wars04:20 Oil, Inflation, and Interest Rates8:01 Personal Finance Takeaways11:40 Wrap Up and DisclaimerResources Mentioned: Investopedia article on the impact of war on markets across timeInflation Adjusted Barrel of Oil History Price ChartU.S. Gas Per Gallon Price over historyMortgage Rate Chart‍ More of Baskin Financial Planning: Think you might be a good fit form my firm? ⁠⁠⁠⁠⁠⁠Join the waitlist here! Questions or comments, drop me a note at: ⁠⁠[email protected]⁠⁠ ⁠⁠www.baskinfp.com/post/79

In this episode, I talk about the top 5 most impactful personal finance books I've ever read that I would recommend you check out in the new year! ‍ Key Timestamps: 00:00 Intro and Top 5 Personal Finance Books Overview 00:51 Book 1: The Psychology of Money 02:05 Book 2: Your Money or Your Life 03:25 Book 3: Die With Zero 05:29 Book 4: A Random Walk Down Wall Street 06:37 Book 5: The Millionaire Next Door 07:57 Conclusion and Additional Resources ‍ Resources Mentioned: Psychology of Money- Morgan HouselYour Money or Your Life - Vicki RobinDie With Zero- Bill PerkinsRandom Walk Down Wallstreet- Burton MalkielThe Millionare Nextdoor-  Dr. Thomas StanleyFollow me on Goodreads More of Baskin Financial Planning: Think you might be a good fit form my firm? ⁠⁠⁠⁠⁠⁠⁠⁠Join the waitlist here!⁠⁠ Questions or comments, drop me a note at: ⁠⁠⁠⁠[email protected]⁠⁠⁠⁠ ⁠⁠www.baskinfp.com/post/78

‍In this episode, I talk about red flags to look for in investments that are too good to be true, including three real life examples I've seen in my financial planning practice. Key Timestamps: 00:00 Introduction and Announcements 01:20 Core Principles of Sound Investing 02:20 Identifying Red Flags in Investment Opportunities 04:34 Real-World Examples of Investment Scams 09:02 Protecting Yourself from Investment Scams 09:50 Conclusion and Final Thoughts Resources Mentioned: Bernie Madoff FBI Case Paul Regan Fraud Scheme 2024 ‍ More of Baskin Financial Planning: Think you might be a good fit form my firm? ⁠⁠⁠⁠⁠⁠⁠⁠Join the waitlist here!⁠⁠ Questions or comments, drop me a note at: ⁠⁠⁠⁠[email protected]⁠⁠⁠⁠ ⁠⁠www.baskinfp.com/post/77

‍In this episode, I go through the three tax-efficient strategies for maximizing the value of your charitable giving. ‍ Key Timestamps: 00:00 – Intro01:25 – Standard deduction explained04:40 – Strategy 1: Bunching05:46 – Strategy 2: Donor-Advised Funds07:04 – Strategy 3: QCDs08:41 – Recap & final thoughts Resources Mentioned: Episode 37 on Donor Advised Funds (DAFs) ‍ More of Baskin Financial Planning: Think you might be a good fit form my firm? ⁠⁠⁠⁠⁠⁠⁠⁠Join the waitlist here!⁠⁠ Questions or comments, drop me a note at: ⁠⁠⁠⁠[email protected]⁠⁠⁠⁠ ⁠⁠www.baskinfp.com/post/76

In this episode, I go through the three things that need to be true for it to make sense to keep your house as a rental property. ‍ Key Timestamps: 00:00 – Introduction00:49 – 1. The Math03:31 – 2. Qualitative Fit05:21 – 3. Long-Term Fit09:06 – Recap & Final Thoughts More of Baskin Financial Planning: Think you might be a good fit form my firm? ⁠⁠⁠⁠⁠⁠⁠⁠Join the waitlist here!⁠⁠ Questions or comments, drop me a note at: ⁠⁠⁠⁠[email protected]⁠⁠⁠⁠ ⁠⁠www.baskinfp.com/post/75

‍In this episode, I discuss the basic principles of term insurance and why for most families it is the preferred method of life insurance over permanent insurance, SBP, and VGLI. Key Timestamps: 00:00 Introduction & why term life insurance 01:10 Principles of Term Insurance 03:35 How much term insurance do you need? 05:35 Calculating your coverage 07:10 Comparing Term vs. Permanent, VGLI, and SBP 12:09 Final thoughts & summary ‍ Resources Mentioned: Episode 22: Whole vs. Term Life InsuranceVGLI Costs‍ More of Baskin Financial Planning: Think you might be a good fit form my firm? ⁠⁠⁠⁠⁠⁠⁠⁠Join the waitlist here!⁠⁠ Questions or comments, drop me a note at: ⁠⁠⁠⁠[email protected]⁠⁠⁠⁠ ⁠⁠www.baskinfp.com/post/74

In this episode, I discuss the art of the backdoor Roth IRA for high income earners. We walk through what it is, how to do it, and key mistakes to look out for. ‍ Key Timestamps: 00:00 Introduction to the Backdoor Roth IRA 02:21 Step-by-Step Guide to Backdoor Roth IRA 04:51 Key Caveats and Pro-Rata Rule 07:26 Fixing Past Contribution Mistakes 10:06 Conclusion and Final Tips 10:47 Additional Resources and Disclaimer ‍ ‍ More of Baskin Financial Planning: Think you might be a good fit form my firm? ⁠⁠⁠⁠⁠⁠⁠⁠Join the waitlist here!⁠⁠ Questions or comments, drop me a note at: ⁠⁠⁠⁠[email protected]⁠⁠⁠⁠ ⁠⁠www.baskinfp.com/post/73 ‍

In this episode, I dive into when it makes sense and does not make sense to refinance your mortgage when rates are falling. Key Timestamps: 00:00 Introduction: Is Now a Good Time to Refinance?00:55 Understanding Refinancing Basics02:03 VA Loan Refinancing: Uncle Earl Explained03:12 When Refinancing Makes Sense06:06 When Refinancing Doesn't Make Sense08:02 Veteran-Specific Provisions for Refinancing09:50 Conclusion and Final Thoughts Resources Mentioned: Episode 16: VA Loans with Evan Kaufman Episode 50: Refinancing VA Loans with Evan Kaufman More of Baskin Financial Planning: Think you might be a good fit form my firm? ⁠⁠⁠⁠⁠⁠⁠⁠Join the waitlist here!⁠⁠ Questions or comments, drop me a note at: ⁠⁠⁠⁠[email protected]⁠⁠⁠⁠ ⁠www.baskinfp.com/post/72

In this episode, I dive into the provisions of the One Big Beautiful Bill Act (OBBBA) passed on July 4, 2025 and how it is likely to impact your tax bill this year and for the years to come. Key Timestamps: 00:00-Introduction to the One Big Beautiful Bill Act 01:22- Understanding the Tax Rate Extensions and Standard Deductions 02:43- Charitable Giving and Itemized Deductions 04:53- State and Local Tax (SALT) Deduction Changes 06:45- Child Tax Credit and Senior Deduction 08:55- Tax Exemptions on Tips, Overtime, and Business Provisions 11:16- Estate and Lifetime Gift Tax Exemptions 12:55- Vehicle-Related Tax Provisions1 5:40- Education and Trump Accounts 17:31- Actionable Takeaways and Conclusion More of Baskin Financial Planning: Think you might be a good fit form my firm? ⁠⁠⁠⁠⁠⁠⁠⁠Join the waitlist here!⁠⁠ Questions or comments, drop me a note at: ⁠⁠⁠⁠[email protected]⁠⁠⁠⁠ www.baskinfp.com/post/71

In this episode, I dive into the essentials of college savings, focusing on 529 plans and how to decide the best approach for your family. I cover the pros and cons, recent rule changes, and practical tips for making smart education funding decisions. ‍ Key Timestamps: 00:00 - Introduction and Personal Update01:56 - Philosophy of Education Savings04:12 - 529 Accounts Overview06:48 - What 529 Plans Cover08:27 - Pros of 529 Plans11:54 - Cons of 529 Plans14:09 - Making the Right Decision16:41 - Outro and Resources ‍ ‍ More of Baskin Financial Planning: Think you might be a good fit form my firm? ⁠⁠⁠⁠⁠⁠⁠⁠Join the waitlist here!⁠⁠ Questions or comments, drop me a note at: ⁠⁠⁠⁠[email protected]⁠⁠⁠⁠ www.baskinfp.com/post/70

Today, I talk about how the way you consume financial news can have a huge impact on your emotional state and your long-term success as an investor. I’ve noticed that most financial media today—especially TV and digital platforms—is designed to get you riled up, not to inform you. It’s biased, sensationalized, and built to sell ads, which makes it really dangerous for investors who are trying to stay focused on the long term. Studies show that many investors underperform their actual investments by 3–7% because of emotional decision-making, often driven by news consumption. My advice? Stop watching the news and start reading it. Limit your intake—maybe 15 minutes a day or even just once a week—and stick to reliable, relatively unbiased sources like The Economist (which I read in print), The Wall Street Journal (minus the opinion section), Financial Times, Bloomberg, Morningstar, and Investopedia. Building a smarter, calmer news habit helps you stay informed without being overwhelmed or emotionally swayed—and ultimately makes you a better, more focused investor. Key Takeaways: • The average investor underperforms their own investments by 3–7%, largely due to behavior driven by emotional news cycles. • The Economist and The Wall Street Journal are trusted, relatively balanced sources of financial information. • Doomscrolling is a destructive habit, especially when it comes to financial decision-making. • Opinion sections and talk shows are entertainment, not reliable sources of economic insight. • Choosing quality over quantity in your news consumption makes you a more informed, more resilient investor—and a more grounded person overall. • Most modern financial media is designed to entertain and provoke, not to inform objectively. Key Timestamps: (00:00) – Introduction and Personal Update (00:33) – The Impact of News on Investing (01:50) – The Problem with Modern Financial Media (03:48) – Recommended Financial News Sources (06:37) – Building Smarter News Habits (08:12) – Conclusion and Final Thoughts Key Topics Discussed: BLUF Veteran Finance Podcast, Military Finance, Veteran Financial Planning, Military Money Management, VA Benefits, Military Retirement Planning, Financial Literacy for Soldiers, Military Budgeting Tips, Debt Management for Service Members, VA Loans, Military Investment Strategies, Saving for Deployment, Thrift Savings Plan (TSP), Transitioning to Civilian Life, Military Tax Benefits, Financial Independence for Veterans, Military Money Manual, The Military Money Show More of Baskin Financial Planning: Think you might be a good fit form my firm? ⁠⁠⁠⁠⁠⁠⁠⁠Join the waitlist here!⁠⁠ Questions or comments, drop me a note at: ⁠⁠⁠⁠[email protected]⁠⁠⁠⁠ www.baskinfp.com/post/69

I talk about the often misunderstood process of probate and why simply having a will isn’t enough to avoid it. Most people assume a will guarantees a smooth transfer of assets, but the truth is, many of those assets still go through probate - a public, court-supervised process that can take months or even years and cost thousands in legal fees. I explain why we want to avoid probate and how to do it. There are three main ways I recommend: first, owning property jointly - especially with a spouse - so it transfers automatically; second, using beneficiary designations on financial accounts and insurance policies, which actually override what’s written in a will and allow for faster transfers; and third, setting up a revocable living trust, which keeps everything private, gives you more control, and avoids probate altogether. I share how I’ve seen this work for clients and why smart estate planning is one of the best gifts you can leave your loved ones. Key Takeaways: • Probate is a public legal process where a court oversees the distribution of your assets after death. • Legal fees during probate can cost 3–5% of your estate’s value, reducing what your heirs receive. • Joint bank accounts transfer directly to the surviving co-owner, skipping probate. • Roth IRAs must be individual accounts, so naming both primary and contingent beneficiaries is critical. • Trusts can include specific instructions for how and when beneficiaries receive assets. • Proper estate planning minimizes stress, cost, and confusion for your loved ones after you pass. Key Timestamps: (00:00) – Understanding Probate: What It Is and Why It Matters (01:00) – The Drawbacks of Probate (02:17) – Three Strategies to Avoid Probate (03:26) – Beneficiary Designations: A Crucial Step (05:41) – Setting Up a Living Trust (07:21) – Summary and Final Thoughts (08:15) – Conclusion and Additional Resources Key Topics Discussed: BLUF Veteran Finance Podcast, Military Finance, Veteran Financial Planning, Military Money Management, VA Benefits, Military Retirement Planning, Financial Literacy for Soldiers, Military Budgeting Tips, Debt Management for Service Members, VA Loans, Military Investment Strategies, Saving for Deployment, Thrift Savings Plan (TSP), Transitioning to Civilian Life, Military Tax Benefits, Financial Independence for Veterans, Military Money Manual, The Military Money Show More of Baskin Financial Planning: Think you might be a good fit form my firm? ⁠⁠⁠⁠⁠⁠⁠⁠Join the waitlist here!⁠⁠ Questions or comments, drop me a note at: ⁠⁠⁠⁠[email protected]⁠⁠⁠⁠ www.baskinfp.com/post/68

Today, I explain that while a market correction - defined as a 10% or more drop - is never fun, it’s actually quite normal and often healthy. Historically, corrections happen every year or so, and the average recovery time is about four months. I walk through data showing that after 10%, 20%, or even 30% declines, markets tend to rebound strongly over one-, three-, and five-year periods. I stress that trying to time the market doesn’t work - you can’t afford to miss the best days, which often come right after the worst ones. I emphasize that policies like tariffs are temporary and shouldn’t shake our long-term investing strategy. Businesses adapt, markets recover, and the long arc of investing continues upward. For those with excess cash, downturns can be a good time to invest, rebalance, harvest losses, or consider a Roth conversion. I also encourage listeners to reassess their risk tolerance, especially if they’re nearing short-term goals. My main message: zoom out, stay focused on the long term, and remain optimistic - this time is not different. Key Takeaways: • Market corrections are a normal part of investing, not a reason to panic. • Tariffs and trade tensions may cause short-term market movements, but their long-term impact is often overstated. • Staying invested through downturns is a key to building wealth and fear-based decisions can derail years of smart investing. • Corrections can create buying opportunities if you’re positioned wisely. • Comparing today to past corrections helps put things in perspective. • Volatility can test your resolve, but staying the course is usually the right call. Key Timestamps: (00:00) – Market Corrections: Frequency and Impact (02:29) – Expected Market Rebounds After Declines (05:56) – The Importance of Staying Invested (07:55) – Temporary Nature of Policies (10:05) – Businesses' Adaptability and Long-Term Outlook (11:16) – Practical Steps During Market Downturns (13:52) – Conclusion and Final Thoughts Key Topics Discussed: BLUF Veteran Finance Podcast, Military Finance, Veteran Financial Planning, Military Money Management, VA Benefits, Military Retirement Planning, Financial Literacy for Soldiers, Military Budgeting Tips, Debt Management for Service Members, VA Loans, Military Investment Strategies, Saving for Deployment, Thrift Savings Plan (TSP), Transitioning to Civilian Life, Military Tax Benefits, Financial Independence for Veterans, Military Money Manual, The Military Money Show More of Baskin Financial Planning: Think you might be a good fit form my firm? ⁠⁠⁠⁠⁠⁠⁠⁠Join the waitlist here!⁠⁠ Questions or comments, drop me a note at: ⁠⁠⁠⁠[email protected]⁠⁠⁠⁠ www.baskinfp.com/post/67