WCI #243: Annuities, Securities, and The Three Fund Portfolio

Dec 30, 2021

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ANECDOTE

Three Accounts Jim Uses For His Kids

Jim Dahle describes his kids' accounts: 529s, Roth IRAs, and a 'twenties fund' UTMA taxable account for early-adult expenses.
He values giving money for their twenties to cover things like weddings, cars, and down payments rather than only funding late-life retirement.

ANECDOTE

Behavior Drives Financial Results

Dr. Latifa Akintoye shares that behavior change, not math, is the main barrier to personal finance success for many clinicians.
She focuses coaching on underlying thoughts and emotions to align behavior with financial goals.

INSIGHT

Reframe Limiting Money Beliefs

Limiting money beliefs (e.g., 'money's the root of all evil' or 'rich people are bad') block healthy financial behavior.
Identifying and reframing such beliefs unlocks better decisions like investing and purposeful spending.

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This episode we discuss annuities, securities, and the three-fund portfolio. But we are also reaching the end of the year, which means it's time to take an assessment of how you did this year. Check out the End of Year Financial Checklist for 2021 https://www.whitecoatinvestor.com/end-of-year-financial-checklist/. This checklist will help you make sure you did everything you need to do at the end of the year. It's got everything on there from completing your 2021 Backdoor Roth IRA, plus a Mega Backdoor Roth IRA and Roth conversions. It covers making sure you maxed out your 401(k)s and HSAs and 529s ABLE accounts if you have a disabled kid as well as using up your flexible spending account and making sure you have insurance in place and giving to charity before the end of the year, if that's something you're interested in doing. There are a number of other things on that list to make sure you do once a year.

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