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Semper Gumby
A phrase we’ve adopted here in the office is “Semper Gumby”. It’s taken from the popular US Marine Corps motto “Semper Fi” that means ‘always faithful’, but in this case it means ‘always flexible’. We don’t know what the world and the market is going to throw at us this year. We need to remain…
What Can You Control?
In Ep. 227 of the Mullooly Asset Show, Tom gives viewers a strong message for 2021: focus on what you can control financially. There is PLENTY that goes on each day out of our control, but we can control a few VERY important things in our own financial lives. https://tpmullooly.wistia.com/medias/60bpmbcsjy?embedType=async&videoFoam=true&videoWidth=640 Show Notes ‘Keeping Your Cool…
2021 Market Outlook Season
This week, Tom addresses the 2021 market projections you’ll see over the next few weeks. If 2020 taught us anything, it’s that NOBODY knows what will happen in the next year. These projections are purely entertainment, and should NOT be taken seriously. Show Notes ‘2021 Price Targets Don’t Matter’ – Mullooly Asset Podcast 2021 Market…
A Firm Financial Foundation
In this week’s episode, Tom stresses the importance of a firm financial foundation. That starts with knowing your monthly numbers. If you don’t know how to figure out your numbers, we can help you! ? A Firm Financial Foundation – Transcript Tom Mullooly: In episode 224 we talk about starting with a firm foundation. I…
Will You Have Enough for Retirement?
In Ep. 223 of the Mullooly Asset Show, Tom addresses the popular question: will I have enough money for retirement? In our office, that’s one of the most common questions. He addresses the challenges of retiring at the Jersey Shore, asks folks what their current plan is, and offers guidance to those who need it!…
A Useful 2020 Tax Deduction
In the spirit of Giving Tuesday, this week Tom highlights a new “above the line” tax deduction created by the CARES Act in 2020 tied to charitable giving! It may not be a big deduction, but every bit helps! Check out the video below for more information: ? Show Notes St. Vincent de Paul Society…
What to Say to Your Adult Kids About Your Estate
In this week’s episode, Tom walks through how to talk to your adult kids about your estate. Talking about estate planning is awkward and never fun, but clearly communicating your wishes is very important. ? Show Notes ‘What to Tell Your Adult Kids When Planning Your Estate’ – Sarah O’Brien – CNBC What to Say…
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The Benefit of a Fiduciary in 2020
In 2020, there have been a LOT of opportunities to jump in and out of the market – only to investor’s detriment. Having a fiduciary advisor on your side can help investors remain invested through tough markets knowing the advice they’re getting is in their best interest. ? The Benefit of a Fiduciary in 2020…
The Plan Remains the Same Regardless of the News
We could record this video on Monday before the election, and post it today before results are final because the message DOES NOT CHANGE. Regardless of the news, our message stays the same. An election is not a reason to rip up a long-term strategy. ? The Plan Remains the Same Regardless of the News…
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Be Prepared for Short Term Volatility
Heading into the Presidential election next week, we expect to see some short term volatility in the markets. That’s OKAY. In this episode, Tom explains why short term market moves are NOT a reason to rip up the script with your investments. This is not a time to panic and make emotional decisions. ? Be…
The Lesson in 2020 From Black Monday 1987
It’s been 33 years since the stock market crash (aka Black Monday) in October of 1987. 33 years could be how long your retirement lasts. In this week’s video, Tom takes a few lessons away from 1987 and applies it to what we’re going through here in 2020. ? Show Notes ‘Terrible Tuesday: How the…
If You’re in a Hole, Stop Digging!
If you’re in a hole, stop digging! In this week’s video, Tom talks about debt. In 2017, 33% of college students graduated with $10,000 in credit card debt. Digging yourself a hole of debt that early in life makes it even tougher to build a strong financial base. ? Show Notes ‘Why Most People Fail…
How to Stay Up to Speed
We post A LOT of content here at Mullooly Asset Management on a weekly basis. From the Mullooly Asset Show, to the podcast, to our own individual blog posts and social media accounts – it can be a lot to keep track of. In this week’s video, Tom condenses it all into one bite-sized video…
Be Sure to Leave Room for Error
Piggybacking off of Ep. 212, Tom talks about the need for a margin of safety – both physically and mentally in your investment strategy. With enough room for error, you can render any forecast or headline irrelevant. You won’t have to react to every jolting headline or every miniscule move in the market. That’s how…
How the News Affects Your Money
We all woke up to some news this morning. In this week’s episode, Tom talks about not letting the jolting day-to-day headlines during election season impact your LONG-TERM investment decisions. Volatility in the market is a feature, not a bug, and should be expected. ? How the News Affects Your Money – Transcript Tom Mullooly:…
A Message to Struggling Friends or Family Members
In Ep. 211 of the Mullooly Asset Show, Tom has a strong message to any friends or family members you may have that are struggling financially. Filing bankruptcy is NOT a life sentence. In fact, it can help turn your financial life around and become a long-term positive – if you let it! ? Show…
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Retirement Money vs. Home Equity
In Ep. 210 of the Mullooly Asset Show, Tom talks about the different options available besides taking a taxable distribution from your retirement plan at work. Home equity is STILL a viable option for a lot of people, despite what some may think following the SALT Act. ? It is important to remember that individuals…
Why ‘Good Enough’ Can Avoid Catastrophe
In Ep. 209 of the Mullooly Asset Show, Tim explains why diversification can help investors get ‘good enough’ and avoid catastrophe. Loading your entire account into individual stocks and sectors that are hot at the moment is a dangerous game. Even the best performing stocks over the last decade haven’t escaped MASSIVE drawdowns. ? Show…
The Difficulties of Day Trading
In Ep. 208 of the Mullooly Asset Show, Tim outlines a few of the reasons why day trading stocks is so difficult. Hardly anyone ever day trades their way to a happy, successful retirement nest egg. Find out why in this week’s video! ? Show Notes ‘Why You Should Not Day Trade’ – The White…
The Price for Safety
In Ep. 207 of the Mullooly Asset Show, Tom talks about the new price for safety. With interest rates are practically zero, it’s becoming increasingly difficult to find any traditionally “safe” investments that yield much of anything. ? Show Notes ‘Money Funds Waive Charges to Keep Yields From Falling Below Zero’ – The Wall Street…
Reexamining Your Risk Appetite
If the market volatility in March/April freaked you out, now might be a good time to revisit how much risk you’re taking in your portfolio. If you’re waiting for things to “get back to normal”, we have bad news for you. Find out what it is in this week’s episode! ? Reexamining Your Risk Appetite…
3 Documents Everyone Over 18 MUST Own
When it comes to getting your financial estate in order, there are 3 documents everyone over the age of 18 MUST own. In Ep. 204 of the Mullooly Asset Show, Tom breaks down what those documents are, and why they are so important. ? Show Notes ‘What Happens if You Pass Away Without a Will?’…
Roth Conversion: Is 2020 the Year?
Is 2020 the year for a Roth conversion? If you’re income is lower than expected, it could seem like an ideal year to do one. However, in Ep. 203 of the Mullooly Asset Show, Tom walks through a few other factors you may not have considered. They need to be taken into account before pulling…
Keeping Your Cool When Markets are Hot
In this week’s video, Tom talks about staying cool while markets are volatile. He recalls a few conversations back in March where folks wanted to completely jump out of the market, and how those decisions could have cost them over $100,000. Working with a trusted advisor can really help you keep your emotions in check…
Should You Take Money From Your 401(k)?
Under the CARES Act, folks can take early withdrawals in 2020 from their 401(k) plan at work with incurring the usual 10% early withdrawal penalty. But just because you CAN, doesn’t necessarily mean you SHOULD. In this episode, Tom walks through PROS and CONS of taking an early distribution. ? Show Notes ‘Cashing Out a…
An Important Message for Future Retirees
In Ep. 200 of the Mullooly Asset Show, Tom has an important message for all future retirees out there. If you plan on retiring at some point in the future: LISTEN UP! Retirement isn’t something you plan overnight. You need to start planning today, but make sure it’s on your terms and nobody else’s. ?…
Should Banks Use Stock Dividends?
In Ep. 199 of the Mullooly Asset Show, Tom explains why stock dividends might be a good idea for bank stocks during an economic downturn. He explains how they work and the benefits they offer both the company and the shareholders. ? Should Banks Use Stock Dividends? – Transcript Tom Mullooly: What should banks do…
Are Dividend-Focused Sectors Safe?
Investors often flock to sectors of the market that pay dividends because they’re seen as “safer” parts of the equity market. Are they really? In Ep. 198, Tom breaks down a few popular dividend-focused sectors and the risks involved. ? Are Dividend-Focused Sectors Safe? – Transcript Tom Mullooly: Do you own stocks just for the…
Living Off of Stock Dividends
In Ep. 197 of the Mullooly Asset Show, Tom sheds light on the risks involved with relying on solely stock dividends for retirement income. He walks viewers through a pretty telling example of what can happen when a company decides to cut its dividend. ? Living Off of Stock Dividends – Transcript Tom Mullooly :…
One Reason Why Dividends Matter
In Ep. 196 of the Mullooly Asset Show, Tom talks about stock dividends. When it comes to investing, there is one main reason why dividends are important. Two words: TOTAL RETURN. It’s important to keep track of your own personal investments with total return, and not just the nominal return. ? Show Notes ’25 Years…
Not All Stocks That Crash Come Back
In Ep. 195 of the Mullooly Asset Show, Tom explains how dangerous speculating on stocks that have crashed can be. Not all stocks that crash make it back to their previous levels. Some go away for good! He talks about the activity going on at Robinhood with some “crash candidate” stocks like Hertz. ? Not…
What Happens in Bankruptcy
In Ep. 194 of the Mullooly Asset Show, Tom explains the different types of bankruptcy. How come companies can be “in bankruptcy”, but still be operating normally? What’s the difference between Chapter 7 and Chapter 11 bankruptcy? Find out in this video! ? What Happens in Bankruptcy – Transcript Tom Mullooly: In episode 194, we…
The Math Behind Market Declines
In this week’s episode, Tom walks viewers through the math behind making your money back after a market decline. If you lose 35%, then gain back 30%, you should only be down 5% – right? Not quite. Find out why in this video! ? The Math Behind Market Declines – Transcript Tom Mullooly: In episode…
Credit Cards and COVID-19
In Ep. 192 of the Mullooly Asset Show, Tim talks about managing your credit cards during the COVID-19 crisis. Now more than ever it’s important to keep a close eye on your credit card debt. Some credit card companies have begun reducing lines of credit for consumers, but at the same time many companies have…
What Did Warren Buffett Actually Say?
In Ep. 191 of the Mullooly Asset Show, Tom talks about the annual Berkshire Hathaway meeting and comments made by Warren Buffett. A lot is being made about his comments, but what do they actually mean for every day long-term investors? It sometimes gets forgotten that Buffett runs one of the largest companies in the…
What Does GDP Mean For Your Investments?
In Ep. 190 of the Mullooly Asset Show, Tim discusses the recently released GDP numbers for the 1st quarter of 2020. What do they mean, if anything, for your long-term investments? He also discusses how these GDP numbers were NOT a surprise to anyone, and how the economy and the stock market are not the…
What Happened With Oil?
In Ep. 189 of the Mullooly Asset Show, Tom explains what exactly happened with oil prices on Monday afternoon. He explains the difference between the price of crude oil and the monthly oil futures contracts, how often oil prices “crash”, and what happens when they do. ? Show Notes Crude Oil Option Contract Specs -…
What Do I Do With My 401k Now?
In Ep. 188 of the Mullooly Asset Show, Tom answers the popular question: what do I do with my 401k now? Do I go to cash? Do I wait for a potential re-test of the lows? If you have a systematic plan for your retirement contributions, you take the guessing and the THINKING out of…
The Financial Entertainment Industry
In Ep. 187, Tom talks about the BOLD claims “experts” have been making on TV. It’s important to remember that what you see on TV is financial entertainment, and most of it will NOT apply to the every day long-term investor. Tom shares some insights into regular long-term investor behavior towards to the end of the video.…
The Problem With Buying Back in at the Bottom
In Ep. 186 of the Mullooly Asset Show, Tom explains why trying to buying back in at the bottom is so difficult. Waiting for an “all-clear” signal from the market to get back in is not a plan. In 2009, waiting just THREE months after the bottom to invest again could’ve caused someone to leave…
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This is Not 1929 or 2008
In Ep. 185 of the Mullooly Asset Show, Tom illustrates why this market decline is NOT like 1929 or 2008. Despite what the media reports, there are plenty of reasons to be optimistic moving forward. Find out what they are in this week’s video! ? This is Not 1929 or 2008 – Transcript Tom Mullooly:…
Emergency Funds and the Coronavirus
In Ep. 184 of the Mullooly Asset Show, Tom talks about the importance of having an emergency fund during times like this. It’s also a perfect example of why you need to keep your emergency fund SAFE during good periods in the economy and the market. You never know what can change, or when. ?…
Stocks & the Virus: When Will the Craziness End?
In Ep. 183 of the Mullooly Asset Show, Tom continues to address growing concerns for the economy due to the coronavirus and the decline in the oil industry. How long will all of this craziness last? When can we potentially expect things to level off? How much will this impact the market in 2020? Find…
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The Fed Cuts Rates, And…
In Ep. 182 of the Mullooly Asset Show, Tom addresses the “surprise” interest rate cut from The Fed. He talks about why they decided to cut rates, what it could mean for the economy, and how it should (or shouldn’t) impact your investment decisions! ? The Fed Cuts Rates, And… – Transcript Tom Mullooly: In…
More Thoughts on the Coronavirus
In Ep. 181 of the Mullooly Asset Show, Tom shares some more thoughts on the coronavirus and what it could mean for your portfolio. Making panic-driven decisions with your investments is never a good idea, and we follow a strict rules-based approach here at Mullooly Asset Management with your money. ? Show Notes Experts Discuss…
New Changes to Form W-4
In Ep. 180 of the Mullooly Asset Show, Tom talks about new changes to the Form W-4, and how it can affect individual’s tax withholding. These changes will make it easier to get your withholding just right. ? Show Notes Tax Withholding Estimator – IRS.gov New Changes to Form W-4 – Transcript Tom Mullooly: In…
Does Your Employer Help With ‘Financial Wellness’?
In Ep. 179 of the Mullooly Asset Show, Tom talks about how some employers have begun helping employees with their ‘financial wellness’ outside of a traditional salary. They utilize methods like pay-day advances, auto-deductions for student loans, auto-enrollment in retirement plans and more! Some methods are more helpful than others, though. ? Show Notes ‘More…
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What is an Average Market Drawdown?
In Ep. 178 of the Mullooly Asset Show, Tom talks about historically what the average drawdown is per year in the market. He shares numbers going back to 1920, and more recently from 1980 onward. He also has a message for those who get scared when the market drops a couple hundred points. ? Show…
The Coronavirus and the Stock Market
In Ep. 177 of the Mullooly Asset Show, Tom talks about the new coronavirus making its way around the world, and how the stock market has performed during previous outbreaks and epidemics. ? Show Notes ‘What Happened to Stock Markets During Previous Pandemics?’ – Fidelity International – Wharton School of Penn The Coronavirus and the…
How Does Your 401(k) Stack Up?
In Ep. 176 of the Mullooly Asset Show, Tom shares some statistics from Investopedia about the average 401(k) balance by age. How does your 401(k) stack up to the averages? But more importantly, does it matter how you’re doing versus the average? ? Show Notes ‘What’s the Average 401(k) Balance By Age?’ – Investopedia How…
Credit Card Rewards are Not Very Rewarding
In Ep. 175 of the Mullooly Asset Show, Tom explains why credit card reward programs are not as rewarding as you might think. Getting another credit card just because they offer points is usually a bad idea. ? Credit Card Rewards are Not Very Rewarding – Transcript Tom Mullooly: In episode 175 we talk about…
The Power of Patience
In Ep. 174 of the Mullooly Asset Show, Tom gives a great example of the power of compound interest and patience when it comes to your investments. Making 10% means very different things when you have $20,000 or $200,000. ? The Power of Patience – Transcript Tom Mullooly: In episode 174 we talk about the…
Get 2020 Started on the Right Foot
In Ep. 173 of the Mullooly Asset Show, Tim shares a few important financial planning tips to check off your list as we move into 2020! Financial plans are never set in stone, and it’s important to review what’s happened over the last year. ? Show Notes ‘A Year-End To-Do List for Bucket Investors’ -…
Fall in Love With People, Not Stocks
In Ep. 172 of the Mullooly Asset Show, Tom talks about why it’s so easy for people to fall in love with individual stocks’ stories. Clinging onto stocks with “good stories” is also a good way to eventually getting burned by stocks. Tom uses a few examples in this week’s episode. ? Show Notes ‘Boeing…
Everybody Pays Something to Invest
In Ep. 171 of the Mullooly Asset Show, Tom talks about a recent survey that showed a large number of people who think they are paying “nothing” for their investments. That could not be further from the truth, and investment fees are very important to understand. ? Show Notes ‘Investment Fees? Some Investors Think They…
Does a Will Supersede a Beneficiary?
When it comes to life insurance policies, does a will supersede a beneficiary? This is a question we deal with a lot here in the office, so tune in to Ep. 170 of the Mullooly Asset Show to find out the answer! ? Show Notes ‘Your Life Insurance Beneficiary Determines Who Gets the Money Upon…
Social Security Myths
In Ep. 169 of the Mullooly Asset Show, Tom clears up some commonly heard myths about Social Security. Social Security can be a confusing topic for many people, so be sure to tune in to this week’s episode! ? Social Security Myths – Transcript Tom Mullooly: Hey. We’re glad you’re tuned in because in episode…
Financial Mistakes in a Divorce
In Ep. 168 of the Mullooly Asset Show, Tom talks about some very costly mistakes that people make when going through a divorce. Going through a divorce is hard enough, don’t make it more difficult by making easy-to-avoid financial mistakes! ? Show Notes ‘Divorce, Retirement Accounts, and Taxes: The Importance of Getting it Right’ -…
Charles Schwab, TD Ameritrade, and You
In Ep. 167 of the Mullooly Asset Show, Tom addresses the new rumors of Charles Schwab purchasing TD Ameritrade, and what brokerage firms merging should mean to the end client. It’s a person-to-person business, and your relationship with your advisor shouldn’t change! **UPDATE** On November 25, 2019 (four days after this original post), Charles Schwab…
10 Scary Retirement Statistics
In Ep. 166 of the Mullooly Asset Show, Tom shares 10 scary retirement statistics from a Think Advisor post, and talks about why these stats are so scary for people in or nearing retirement. If you’re closing in on retirement, listen up! ? Show Notes ’10 Scariest Retirement Statistics: 2019′ – Think Advisor 10 Scary…
HELOCs vs. Personal Loans
In Ep. 165 of the Mullooly Asset Show, Tom looks at the differences between HELOCs and personal loans, the merits of using each of them, and the underlying problem behind using these types of loans. ? Show Notes ‘HELOCs are So 2007, Americans Aren’t Using Homes as Piggy Banks Anymore’ – LA Times HELOCs vs.…
Don’t Beat Yourself Up
In Ep. 164 of the Mullooly Asset Show, Tom talks about why it’s important to stay positive and not beat yourself up about your finances. If you have a financial plan, save for retirement, and do the right things each month – you’re better off than most people out there! ? Show Notes ‘The Toll…
How to Measure Returns
In Ep. 163 of the Mullooly Asset Show, Tom explains the important difference between 12-month rolling returns, and year-to-date returns. In a market environment like what we’ve had through the last 2 years, knowing how to measure your returns is especially important. ? How to Measure Returns – Transcript Tom Mullooly: In Episode 163 we…
Credit Card Interest Rates: What’s Going On?
In Ep. 162 of the Mullooly Asset Show, Tom talks about how interest rates have fallen pretty much across the board: except with credit cards! Here’s why it’s important to get your financial house in order NOW! ? Show Notes ‘Interest Rates are Falling – But Your Credit Card Rate Could Be Going Up’ -…
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Public Service Announcement About WeWork
In Ep. 160 of the Mullooly Asset Show, Tom talks about the disaster that is the WeWork initial public offering (IPO). He warns the viewers of a few lesson to be learned here, and how the approach more hot IPO’s that will come in the future. ? Show Notes ‘WeWork Still Needs Cash After Pulling…
Don’t Get Discouraged by the Headlines
In Ep. 159 of the Mullooly Asset Show, Tom talks about headlines in the financial media. Often times the headlines of folks who “saved $100,000 in 2 years” aren’t entirely true, and are just designed to make you feel bad about your own savings and buy into whatever the author is selling. DON’T FALL FOR…
What Does Per Stirpes Mean?
In Ep. 158 of the Mullooly Asset Show, Tom talks about the term ‘per stirpes’ and what it means to you. When it comes to beneficiaries and estate planning, every little detail matters! ? What Does Per Stirpes Mean? – Transcript Tom Mullooly: In episode 158 we’re going to learn the meaning of the term…
Questions to Ask Your New Advisor
In Ep. 157 of the Mullooly Asset Show Tom shares a handful of very useful questions to ask an advisor when you begin working with them. Hopefully these questions get answered in the initial meeting or two, but if not – don’t be afraid to ask! ?? ‘The Most Important Questions Successful People Ask in…
How to Find a Good Accountant
In Ep. 156 of the Mullooly Asset Show, Tom tells the viewers how to find a good accountant, and also how to make the MOST out of your current accountant! ? Show Notes ‘How to Get Tax Breaks When You Support Your Parents’ – MarketWatch How to Find a Good Accountant – Transcript Tom Mullooly:…
Beware of Student Loan Scams
In Ep. 155 of the Mullooly Asset Show, Tom sheds some light on the potential scams out there with these student debt relief programs. There are a few warning signs to look out for when researching some of these companies, and we spell it out for you in this episode! ? Show Notes ‘Soaring Student…
Simple is Better
In Ep. 154 of the Mullooly Asset Show, Tom talks about whether you’re upgrading your internet speeds or getting the “latest and greatest” investment product, keeping it simple is probably the better choice. Sure, all the bells and whistles seem nice, but it also…
Reading Headlines Can Lead to Mistakes
In Ep. 153 of the Mullooly Asset Show, Tom talks about how searching for reasons why the market moves up and down each day can lead to misleading headlines in the media. Every time you visit a financial website you’ll find articles saying how one thing is good…
4 Ways to Stay Out of Bankruptcy Court
In Ep. 152 of the Mullooly Asset Show, Tom talks about some pieces of advice from a bankruptcy court judge. The judge outlined four ways for people to stay OUT of bankruptcy court. If you don’t want to end up in bankruptcy court…
5 Mistakes Retirees Make
In Ep. 151 of the Mullooly Asset Show, Tom talks about some important mistakes that retirees seem to be making. Whether it is investing too conservatively, or overspending their retirement budget on unplanned things, these five points are things to avoid in retirement.
When Safe Deposit Boxes Aren’t So Safe
? Show Notes ‘Don’t Put Your Valuables in the Bank’ – Bloomberg ‘Safe Deposit Boxes Aren’t Safe’ – The New York Times When Safe Deposit Boxes Aren’t So Safe – Transcript Tom Mullooly: In episode number 150 we’re going to talk about when a safe deposit box isn’t so safe. Stay tuned. Welcome to the…
A Few Notes on the Student Loan Discussion
In Ep. 149 of the Mullooly Asset Show, Tom talks about the student loan crisis. There’s a few important points to consider BEFORE entering into these loans, both from the student’s perspective AND the parent’s perspective as well. ? Show Notes ‘Parents are Largely to Blame for the Student Loan Crisis’ – John Crudele -…
What Should We Make For Dinner? Reservations
In Ep. 148 of the Mullooly Asset Show, Tom talks about how to help your waistline AND your budget. The average American spends over $3,400 a year eating out instead of making food at home. This is hurting not only your budget but most likely your diet as well. ? Show Notes ‘This May Be…
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Bobby Bonilla and Compound Interest
In Ep. 147 of the Mullooly Asset Show, Tom tells the tale of Bobby Bonilla and his contract deferment with the New York Mets. It’s a perfect example of the powers of how compound interest can work for you (Bonilla) AND against you (the Mets). ? Show Notes ‘Bobby Bonilla Day: The Perfect Example of…
Should Capital Gains be Tied to Inflation?
In Ep. 146 of the Mullooly Asset Show, Tom talks about capital gains taxes and what it would mean to tie them to inflation. It would certainly change the amount of taxes that people would have to pay, but is it a good idea? Find out more in the video! ? Show Notes ‘Capital Gains…
Egg Noodles and Ketchup
In Ep. 145 of the Mullooly Asset Show, Tom talks about “egg noodles and ketchup” from the movie Goodfellas, and how in 2019 it’s essentially impossible to pull a fast one on the IRS. Things have changed drastically over the last few decades, and today everything is tracked. As we’re finding out, even bitcoin gains…
Fee-Only vs. Fee-Based
In Ep. 144 of the Mullooly Asset Show, Tom talks about the difference between fee-only and fee-based advisors. Although the names sound very similar, they couldn’t be more different! ? Show Notes ‘Fee-Only vs. Commission Financial Advisor: How They’re Different’ – Business Insider Fee-Only vs. Fee-Based – Transcript Tom Mullooly: In episode 144, we’re going…
Would You Get These Money Questions Right?
In Ep. 143 of the Mullooly Asset Show, Tom asks six money questions that a majority of college students got wrong. Some of the questions were a bit tricky, but can YOU answer all of them before Tom gives the answer? ? Show Notes ‘More Than Half of College Students Fail This 6-Question Money Quiz…
What’s the Difference Between 401(k)’s and Roth 401(k)’s?
In Ep. 142 of the Mullooly Asset Show, Tom talks about the differences between Roth 401(k)’s and traditional 401(k)’s. There’s one key element that separates the two! ? Show Notes ‘Wow, Did We Get a Lot of Questions About the Roth 401(k)?’ – The Wall Street Journal What’s the Difference Between 401(k)’s and Roth 401(k)’s?…
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How Advisors Help Investors in Different Life Phases
? Show Notes ‘The Three Phases of an Investor’s Life’ – Josh Brown – The Reformed Broker How Advisors Help Investors in Different Life Phases – Transcript Tim Mullooly: In episode 141 we’re going to talk about the three phases of an investor’s life. Stick around. Welcome to the Mullooly Asset Show. I’m your host…
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New Improvements from TD Ameritrade
In Ep. 140 of the Mullooly Asset Show, Tom talks about some great new technological changes at TD Ameritrade. Using the Advisor Client app, clients can log in, view their accounts, and even deposit money right into their account by taking a picture of the check! ? Show Notes TD Ameritrade – Advisor Client New…
Estates Should Have ONE Executor
In Ep. 139 of the Mullooly Asset Show, Tom talks about a few things that have been going on in the office the last few weeks. We talk about the importance of having ONE executor on an estate, updating beneficiaries, and knowing your numbers for retirement. ? Estates Should Have ONE Executor – Transcript Tom…
Why Aren’t People Going on Vacation?
In Ep. 138 of the Mullooly Asset Show, Tom talks about a few articles that outline why there’s been a decline in people planning vacations this year. Some people use their tax refunds to fund their vacations, and with smaller refunds can’t afford it. Others have been using their money to pay down debt (GOOD)! …
How Would a New Jersey Fiduciary Rule Affect You?
In Ep. 137 of the Mullooly Asset Show, Tom talks about a new piece of legislation in New Jersey that would impose a fiduciary standard of care for all broker-dealers, agents, investment advisors, and investment advisor representatives. What does this mean for you? Find out in this week’s video. ? Show Notes ‘NJ Proposes Fiduciary…
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What Would You Do With a $5,000 Bonus?
In Ep. 136 of the Mullooly Asset Show, Tim talks about a recent CNBC article that outlines how people say they’d spend a $5,000 bonus. However, the reality is people often don’t do what they say they will. Tim outlines the importance of prudently utilizing a bonus or tax refund. ? Show Notes ‘Here’s What…
When To Use Your Emergency Fund
In Ep. 135 of the Mullooly Asset Show, Tom talks about a few occasions when it’s okay to tap into your emergency fund. There aren’t MANY instances, but some occasions would be acceptable. ? Show Notes ‘6 Reasons to Tap Your Emergency Fund’ – Karen Wallace – Morningstar When To Use Your Emergency Fund -…
The Pitfalls of Not Reading Your Mail
In Ep. 134 of the Mullooly Asset Show, Tom talks about why it’s important to ALWAYS read your mail from your advisors. Whether it is a statement, invoice, or any other type of correspondence, READ IT. ? The Pitfalls of Not Reading Your Mail – Transcript Tom Mullooly: In Episode 134, we’re going to talk…
What NOT To Do In Retirement
? Show Notes ‘How Secure is Employment at Older Ages?’ – Urban Institute ‘How Today’s Retirees are Financial Fairing in Retirement’ – TransAmerica ‘If You Plan on Retiring Soon, Take a Test Drive’ – The Wall Street Journal What NOT To Do In Retirement – Transcript Tom Mullooly: In episode 133, we’re going to talk…
How to Roll Over a 401(k)
In Ep. 132 of the Mullooly Asset Show, Tom talks about a topic some advisors take for granted. He breaks down the steps involved in rolling over a former workplace retirement account like a 401(k), 403(b), or 457 deferred compensation account. This is something advisors deal with everyday, but something most individuals only deal with…
Don’t Make This Accounting Mistake
A phrase we hear often in the office is “I’ll let my accountant figure that out”. In the past, accountants could potentially find unique ways for clients increase their write-offs and other taxable events. That is almost entirely a thing of the past now-a-days. When we hear people use that phrase, it’s often a red…
How Buying & Selling a Home is Changing
In Ep. 130 of the Mullooly Asset Show, Tom talks about how the world of buying and selling a home is changing…drastically! Companies like Zillow are starting to dip their toes in the water of buying and selling homes, and it is shifting the industry. ? Show Notes ‘Zillow is Now the Netflix of Homes’…
5 ‘Tricks’ for Better Investing
In Ep. 129 of the Mullooly Asset Show, Tom talks about an article from Barron’s that offers “tricks” to become better investors. It’s sometimes cringe-worthy when you read about “tricks” or “magic” investing, but we break down the different pieces of information discussed in the article. ? Show Notes ‘5 Mental Tricks to Make You…
Budgeting 101: Spend Less Than You Make
? Show Notes ‘2018 Baseline Survey Results’ – U.S. Financial Health Pulse Budgeting 101: Spend Less Than You Make – Transcript Tom Mullooly: In episode 128, we have some interesting survey numbers that we want to share with you. Stick around. Welcome to the Mullooly Asset Show. I’m your host, Tom Mullooly, and this is…
What is “Smart Money” and “Dumb Money”?
? Show Notes ‘The Dumb Money is Finally Starting to Smarten Up’ – Bloomberg What is “Smart Money” and “Dumb Money”? – Transcript Tom Mullooly: In episode 127 we’re going to find out that we’re actually the dumb money. Did you know that? Stick around. Welcome to the Mullooly Asset show I’m your host Tom…
Advertising Rules for Advisors
? Show Notes ‘The Investment Adviser Advertising Rule’ – Laura Anthony, Esq. – Lawcast Advertising Rules for Advisors – Transcript Tom Mullooly: In episode 126 we’re going to talk about testimonials and advertising. Stick around. Welcome to the Mullooly Asset Show. I’m your host, Tom Mullooly. And this is episode number 126. Thanks for tuning…
The Legend of Jack Bogle
? Show Notes The Greatest Investors: John (Jack) Bogle – Investopedia The Legend of Jack Bogle – Transcript Tom Mullooly: In Episode 125, we’re going to spend a few minutes talking about Jack Bogle and Vanguard Group. Stick around. Welcome to the Mullooly Asset Show. I’m your host, Tom Mullooly, and this is episode number…
