The Benefits of Generosity

What happens when you fail at market timing?: https://www.dimensional.com/us-en/insights/what-happens-when-you-fail-at-market-timing

The Periodic Table of Investment Returns: https://www.callan.com/research/2022-classic-periodic-table/

Dave guessing his Mom's Thanksgiving Pies: https://www.youtube.com/watch?v=1xa_ICrQHCM

Welcome to the Making Margin podcast! Greenway’s team is here to discuss common financial mistakes and to help you navigate them. 

Meet the voices behind this episode of Making Margin:

• Nick
• Natalie 
• Jeff
• Allie

Since its inception, the 529 has been a popular education savings vehicle. Over the years, it has received a few enhancements, but none better than the most recent one thanks to the Secure Act 2.0. We’ll talk about the 529, the changes, and how it might fit into a financial plan.

In 1996, U.S. Senator Bob Graham of Florida, where a prepaid plan was well established, and U.S. Senator Mitch McConnell of Kentucky, which had a savings trust, led a bipartisan effort to provide federal tax relief for all plans, resulting in the creation of Section 529 of the Internal Revenue Code (IRC).

Questions

• What have been the changes to 529 plans, previously and in 2023?
• How should a plan most appropriately be utilized? Who does it make sense for?

Resources:

https://www.collegesavings.org/history-of-529-plans#:~:text=In%201996%2C%20U.S.%20Senator%20Bob,Internal%20Revenue%20Code%20(IRC).

https://finaid.org/savings/state529deductions/

Making Margin Podcast
Episode 48 - The Psychology of Spending

Welcome to the Making Margin podcast! Greenway’s team is here to discuss common financial mistakes and to help you navigate them. 

Meet the voices behind this episode of Making Margin:

• Nick
• Jeff
• Natalie 
• Allie

“A subtle problem with money is that assets are easy to measure but liabilities can be hidden.”-Morgan Housel

Today we’re talking about the psychology of spending, and why setting arbitrary limits that are well below what you can currently “afford” can make it easier to build wealth.

Questions

• Do you set arbitrary spending limits on certain things, even those things that you enjoy and can afford?
• What influences cause people to overspend, either relative to what they can spend or what they should spend? 

Resources:

https://www.apa.org/monitor/2023/06/psychology-of-spending

https://collabfund.com/blog/rich-and-anonymous/

https://spectrum.mit.edu/winter-1999/the-psychology-of-spending/

Making Margin Podcast
Episode 47 - These Are The Biggest Money Mistakes That We See People Make
 

Welcome to the Making Margin podcast! Greenway’s team is here to discuss common financial mistakes and to help you navigate them. 

Meet the voices behind this episode of Making Margin:

• Nick
• Jeff
• Allie
• Natalie 
• Drew

We often talk to our clients about the importance of avoiding mistakes with their money. So much about personal finance isn’t about trying to hit home runs; it’s consistently hitting singles and avoiding mistakes. But what are the most common mistakes we see people make with their money?

We’re looking at an old Nick Magguilli (Mah-Julie) post from his blog Of Dollars and Data to guide our discussion, and where we agree and don’t agree with his assessment. 

Discussion Topics:

• What does he get right, what does he get wrong?
• Any other things that we would add? 

Resources:

https://ofdollarsanddata.com/biggest-money-mistakes/

Questions

• What happened to SVB? Explain it to me like I’m 5.
   
• What’s the risk of broader contagion?
   
• How do these events impact your 2023 market forecast?
   
• What should we be doing differently with our money?

Resources:

https://www.investopedia.com/what-happened-to-silicon-valley-bank-7368676

https://www.investopedia.com/terms/t/twofactor-authentication-2fa.asp

With so many negative headlines, is there a reason to be optimistic about the markets (and life in general) this year? What about in future years?

Questions

• The Dow is currently at ~34,000. Will it end the year higher or lower than 34,000?
   
• Michael Burry: why is pessimism so popular?
   
• Personally (and for the market) are you optimistic or pessimistic over the near-term? What about in the intermediate-long term?

Resources:

https://www.bloomberg.com/news/articles/2023-02-01/will-stocks-fall-michael-burry-says-sell-in-ominous-tweet-ahead-of-fed

Resources:

https://www.kiplinger.com/retirement/bipartisan-retirement-savings-package-in-massive-budget-bill

https://www.schwab.com/learn/story/secure-20-how-does-it-affect-retirement-plans