ELECTION IMPACTS, INDEX OPINIONS, AND YOUR MORTGAGE RATE

This week on Upticks, join me and Cory as we discuss things to think about financially during an election year.

Should you judge someone for how they spend their money? How much work does marriage take? Who is celebrating half-birthdays? Is the Dow a reliable index? All this and more in this episode of Upticks.

Thank you for joining us this week! If you have a topic that you would like us to discuss or debate live on Upticks, please email it directly to Luke at?[email protected]?and I’ll be sure to ask him to bring it up on the show!

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Read a summary of the conversation below:

Introduction

Jake welcomes listeners back to the show, noting the approaching arrival of Cory’s baby. Jake shares his excitement about his new book, “Retiring Right: Smart Steps for Exiting Corporate America,” encouraging listeners to check it out on Amazon.

My View of Money, Your View of Money

Jake and Cory discuss an article by Carl Richards about the psychology and relationship with money. Jake shares a personal story about paying extra for early boarding on a flight, despite being teased by friends. The main takeaway is not to judge others’ spending habits, as the most important thing is having a sound financial plan that aligns with one’s values.

How Will the 2024 Election Impact Your Retirement?

Cory talks about the financial media’s focus on market predictions related to the upcoming 2024 election. He advises investors not to react emotionally to these predictions and to maintain a long-term financial plan. Jake adds that political outcomes should not lead to drastic changes in investment strategies, as markets persist regardless of the president.

Move Over, TurboTax? IRS Considers Expanding Free Tax-Filing Program

Jake and Cory discuss the IRS’s consideration of expanding its free tax-filing program. They debate whether it’s better for the government to simplify the tax code rather than develop complex software for filing taxes. Cory and Jake agree that while the intention might be good, there’s skepticism about the government’s ability to implement an efficient system.

Marriage Takes Work—Especially When Only One Spouse Retires

Cory shares insights from a Wall Street Journal article about the challenges couples face when one spouse retires while the other continues working. Only 11% of couples retire simultaneously, and staggered retirements can lead to tensions and changes in routines. The discussion emphasizes the importance of communication, managing expectations, and being mindful of the emotional aspects of retirement. Jake humorously concludes by suggesting his marriage is easy and doesn’t take work.

Adults—Yes, Adults—Are Throwing Half-Birthday Parties

Cory and Jake discuss a peculiar trend: adults throwing half-birthday parties. Both express skepticism about the practice, finding it unnecessary and even egotistical. Despite their lack of understanding, they invite listeners who celebrate half-birthdays to share their reasons.

The Dow Is a Terrible Index. But It Is Telling Us Something Important.

Moving on, the hosts delve into the Dow Jones Industrial Average’s shortcomings, critiquing its reliance on share price rather than market value. They compare its underperformance against the S&P 500, emphasizing the importance of individual portfolio performance over arbitrary indexes. They caution against using indexes as sole investment strategies, advocating for personalized financial plans.

Here’s What Goes into Your Mortgage Rate

In their final topic, Cory and Jake discuss mortgage rates, highlighting the variation by state and lender type. They stress the importance of shopping around for the best rates and fees. They also question why rates remain high despite underlying market conditions, speculating on potential collusion among lenders. Ultimately, they advise listeners to prioritize finding the lowest rate when securing a mortgage.

Thank you for tuning in, we hope you have a great week!

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