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Creating Wealth is an in-depth conversation between Bill Taber, an experienced financial advisor, and his millennial daughter about personal finance, investing, and financial planning.
Bill and Anastasia cover a listener requested topic regarding the student loan debt crisis in the U.S. They tackle this issue through the lens of financial advisors looking at it on a macroeconomic scale--addressing how student loans grew into a crisis, the contributing factors, consequences, potential solutions, and what they think consumers shoul…
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Creating Wealth
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What Credentials Should My Financial Advisor Have?
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There are over 200 designations and certifications that a financial services representative can hold, making it difficult for consumers to understand the differences between them. When did advisor credentials become so popular and why? What is the difference between a securities license and a certification? What should you be aware of when hiring a…
Bill and Anastasia cover a concept everyone is familiar with but might not know how to explain - specifically, what are corporations? How are they related to other business entities like sole proprietorships, LLCs, LPs, etc? Who runs a corporation? What's the difference between a CEO, a COO, and a CFO? What power do shareholders have? Bill also pro…
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Creating Wealth
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Why is U.S. Health Care So Expensive? Part Two
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From the perspective of a financial advisor, Bill and Anastasia tackle the meaty topic of U.S. health care in this two-part episode series. In Part Two, Bill offers strategies that consumers can use to help mitigate the cost of health care. Bill and Anastasia touch on different health insurance options and the benefits of a HSA (Health Savings Acco…
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Creating Wealth
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Why is U.S. Health Care So Expensive? Part One
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From the perspective of a financial advisor, Bill and Anastasia tackle the meaty topic of U.S. health care in this two-part episode series. In Part One, Bill covers reasons why the U.S. spends more on health care per capita than any country in the world. Additionally, why are Anastasia's friends receiving bills before insurance kicks in of $38,000+…
With the recent stock market volatility, Bill and Anastasia set out to provide some perspective on persevering during the ups and downs. Bill discusses how investors and the overall market are feeling, how he is feeling personally, and how this volatile period compares to the rest of his career. Bill analogizes Mito Pereira's recent PGA Championshi…
Bill explains the basic concept behind inflation, why core CPI is lower than actual inflation, how often inflation occurs, and how governments may stop it, before outlining steps that individuals can take to reduce the impact of inflation on their budgets. Bill answers the question of whether investing in the stock market is still a good way to com…
Bill and Anastasia continue answering listener questions in this second of a two-part series. In Part Two, they discuss what to do if your significant other has different spending priorities, why a 401(k) plan is named "401(k)," how to know whether you are saving enough for retirement, when is a good time to set up a checking or savings account for…
Bill and Anastasia tackle several questions from listeners in this two-part series. In Part One, they discuss rolling over a 401(k) account, how to prioritize credit card repayment, contributing to a Roth vs. a traditional IRA and how to prioritize contributions to various retirement accounts, and whether to get a second credit card. Bill and Anast…
Bill and Anastasia discuss the many different kinds of stocks (stalks?) out there. For questions and comments, you can email us at askcreatingwealth@taberasset.com.By Bill Taber and Anastasia Taber
What are paper hands versus diamond hands, and is it effective to think in these terms when it comes to investing? Bill and Anastasia use these terms to dive into several recent questions they've been receiving from nervous or curious investors. Should you change your investment strategy in anticipation of a downturn? Are there certain strategies t…
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Creating Wealth
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What Should You Know About Credit Scores?
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What should you know about credit scores? What actually affects your credit score, and what doesn't? Bill and Anastasia dive into the evolution of credit lending and offer advice and information for those with credit or looking to start. Bill and Anastasia also briefly covered this topic in "Life Advice From Financial Experts," as well as the pros …
Bill and Anastasia take advantage of Anastasia's recent personal experience to talk weddings. How much money do you need to plan a wedding? What vendors do you need and how much do they cost on average? How do you find out if your family will help pay for the wedding? How do you prioritize the cost of a wedding vs. a down payment on a first home? W…
Bill and Anastasia answer questions they have been receiving from individuals recently related to the U.S. stock market downturn in January 2022. Was the market drop a correction and how often does this happen? What does the level of volatility in the market mean for you? Is it time to buy the dip? Why are these questions arising now? Bill and Anas…
In this follow up to last year's episode, "Forming an Annual Budget," Bill and Anastasia cover more tools that are available for budgeting. What is an income statement, balance sheet, and cash flow statement, and why are these important in creating a budget? Bill and Anastasia also discuss what software programs they prefer to use and tips for thos…
When can you retire? What savings rate is needed to achieve a secure retirement? What impact will Social Security have on your retirement? What are the different retirement accounts that may be available to you? How do you balance other life expenses with saving for retirement, and how should you prioritize them? Bill relates his answers to his dec…
In practice of having an abundance mindset, Bill and Anastasia return to their end of year tradition in taking stock of what they and others are grateful for in the past year. A special thanks to those who shared their messages of gratitude with Creating Wealth, and to healthcare workers who continue to save lives. For questions and comments, you c…
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Creating Wealth
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Why Are Interest Rates Important to Investors?
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What is an interest rate and why do investors pay close attention to them? In this episode, Bill and Anastasia discuss how interest rates affect stocks, bonds, and how the Federal Reserve's actions impact the broader economy. They cover what is going on with today's interest rates, how that compares to the historical average, and what investors sho…
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Creating Wealth
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Finding the Right Investing Style for You
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This is a continuation of the conversation on investing styles from the previous episode (How Do You Invest?). In this second part, Bill and Anastasia cover several other concepts - sector funds, dollar cost averaging, margin of safety. And investing styles including momentum and contrarian investing. They discuss the importance of where you get yo…
When it comes to investing, what are your guiding principles? Bill and Anastasia discuss several different investing strategies including value vs. growth investing, active vs. passive investing, and using fundamental vs. technical analysis to determine the value of a stock. Bill provides perspective on the current strong bull market and whether va…
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Common Challenges of a Small Business Owner
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What are the common obstacles that small business owners face? This is the second of a two-part series on starting and running your own business with special guest speaker, Bob Clements--Cofounder, Partner, and General Counsel of Benchmark Business Group. Part Two covers the obstacles that owners typically face as their business grows: For example,…
This is a two-part series on starting and running your own business with a special guest speaker, Bob Clements--Cofounder, Partner, and General Counsel of Benchmark Business Group. Part One covers what people should consider if they want to start their own business. Why would an individual prefer to be self-employed vs. work for someone else? In wh…
What is going on in the stock market? Before diving into the topic, Anastasia provides news updates relating to topics discussed in previous episodes: The Rise of GameStop (GME) Stock, Investing in Common Stock Part Two, and How to Pay for College. Bill and Anastasia then discuss inflation concerns, what the autumnal dip is and why it happens, the …
How can you fund attending college in the U.S.? Bill and Anastasia first discuss reasons why an individual should attend college and when they shouldn't, before launching into a discussion of the various ways you can save or pay for college if you are a U.S. citizen. How does FAFSA work? What type of student loans are available? How and when should…
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Creating Wealth
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Is Investing in the Stock Market the Same as Gambling?
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Is investing the same as gambling? Bill and Anastasia dive into a topic that has come up in separate conversations with millennials about cryptocurrency trading. They start by defining investing, gambling, and speculating, then launch into a discussion of casino gambling, sports betting, why people may conflate investing with gambling, and why the …
What are the common financial concerns of those in their 60s and 70s? Bill and Anastasia tackle the third and final life stage to discuss common questions that individuals ask before, during, or after retirement. How should you balance your portfolio in this life stage? How do you receive Social Security benefits - do you have to register for it? A…
What are the common financial concerns of those in their 40s and 50s? Bill and Anastasia tackle the second of three life stages to discuss common questions that individuals ask in the middle of adulthood, sometimes called "The Sandwich Generation." How do you balance a family budget of food, utilities, travel, child care costs, assisting any aging …
What are the common financial concerns of those in their 20s and 30s? Bill and Anastasia tackle the first of three life stages to discuss common questions that individuals ask at the beginning of adulthood. When should you start saving for retirement? When you get married, how do you merge financial assets? If you have kids, how should you start fu…
How do you buy a home and how do you know when you are ready to do so? What matters more - your credit score or the amount of money you have saved up? Should you base any decisions on macroeconomic trends--for example, wait to buy in an overheated market? Anastasia and Bill discuss housing ratios to determine what you can afford, what contingencies…
In the last few years, cryptocurrency has become a full blown phenomenon. In Part Two, Bill and Anastasia discuss listeners' questions on the tax ramifications and liquidity of cryptocurrencies, and where they see cryptocurrency going from here. Stay tuned: Anastasia makes an important announcement near the end of their discussion. Since this is a …
In the last few years, cryptocurrency has become a full-blown phenomenon. Bill and Anastasia discuss Bitcoin and what makes people so excited, and concerned, about cryptocurrencies. Bill answers what makes cryptocurrency valuable and why it's different from any financial product he's ever seen before in his 42 year career. There was so much to cove…
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Creating Wealth
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What's the Difference Between Income and Wealth?
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What is the difference between income and wealth, and why is it fundamental to understanding wealth creation? What do people get wrong by focusing on income instead of wealth? Bill talks about the importance of building wealth for retirement and reiterates a formula introduced in the Season One episode "Spending Control" for determining how much yo…
What happens in the aftermath of a parent's death? What is an executor and what are they responsible for? How different is it to work with a non-family executor versus a family member who acts as one? How different is the process when a parent dies with a living spouse than when a widow/widower dies? Bill and Anastasia discuss the myriad of questio…
On TV, a lack of money is often used as an obstacle to challenge characters. Anastasia describes the money problems of characters in TV shows Breaking Bad, The Office, Gilmore Girls, etc and Bill suggests possibilities that the characters could have considered to avoid or resolve their financial difficulties, providing a few takeaways for real, non…
What is a tax and its purpose? What are the benefits of taxes? Bill and Anastasia discuss the major forms of taxes in the U.S. and what you should know about each one. Why do some states have income tax and others don't? Bill discusses from a financial advisor's perspective when you should file your own taxes and when to hire a tax expert. For ques…
Bill and Anastasia discuss when they first heard of bonds, which bonds are the riskiest, which bonds are short-term, medium-term, and long-term, and what is important to know about those bonds. For questions and comments, you can email us at askcreatingwealth@taberasset.com.
What are four simple actions you can take to increase your savings rate? Why is focusing on your savings rate so important? Do younger people struggle more with saving or is it a challenge for all ages? Bill provides an example from his career of someone who was frugal and diligent with budgeting. As the world exits the pandemic era, what should yo…
What is the purpose of a national stimulus and why should individuals care about it? When has the U.S. done a national stimulus before? Bill mentions when a stimulus is helpful and what investors need to keep in mind about economic cycles. Anastasia discusses an update to the conclusion of Creating Wealth's National Debt episode. For questions and …
What are bonds and why do people invest in them? What should you keep in mind when investing in bonds and can you have a successful investment strategy without them? Bill discusses periods of rising interest rates, Puerto Rico municipal bonds after Hurricane Maria in 2017, and mortgage bonds during the Great Recession of 2008/2009 as examples when …
Bill applies his perspective of decades as an investment advisor to what happened with GameStop (GME-nyse) stock in late January 2021. What fueled the rise of GME? What made the event so unique and what are the implications for the financial industry moving forward? Bill compares GME stock to what happened with tulips in the Netherlands in the 1600…
What is a trade deficit and should individuals be concerned if their country has a high trade deficit? What should the average citizen consider when it comes to how trade functions in their country and in the world? Bill and Anastasia discuss bilateral vs. multilateral trade deals, and also notable current and future trends in U.S. trade. For quest…
Bill and Anastasia return to one of their favorite topics to discuss what goes into forming an annual household budget. How do you create a yearly budget? How do you budget for specific goals like going on a long vacation or a house renovation project? As a future-oriented thinker, Bill explains how he starts by visualizing goals before he sits dow…
2020 has been a difficult year for most, and also an incredible year of change. As a practice in the abundance mindset, Bill and Anastasia read messages of gratitude in the past year from listeners and discuss what they are thankful for in a year that has thrown many curve balls. A special thanks to those who contributed a message, and to the many …
What should you be doing to manage your 401(k)? How does active vs. passive investing apply to your retirement accounts? Bill provides some historical context for the rise of the 401(k) plan and a few important takeaways when it comes to saving for retirement. Anastasia discusses the various employer sponsored 401(k) presentations she's sat through…
Bill and Anastasia answer a listener question about credit reports before diving into a free-form discussion based on financial and lifestyle tips from famous experts known for their financial prowess. Bill talks about his career and finally achieving a role he loved. They discuss how hard work early in a career can open up opportunities later in l…
When should we focus on paying off debt and when can we start investing? Are there certain loans you need to pay down before you can really start putting money away towards investments? Bill and Anastasia discuss a common sentiment expressed by younger generations who are eager to build wealth and how to figure out what to prioritize. Bill mentions…
How important is thinking positively when it comes to creating wealth? How can you retrain your brain to think abundantly? In this follow-up to the third episode, "Having an Abundance Mentality," Bill and Anastasia discuss what it takes to think positively about your finances. Bill mentions examples of negative thoughts you or family members may ha…
What kind of insurance policies can you buy and why should you have them? Are there policies you should avoid, or insurance that is only needed at certain points in your life? Both Bill and Anastasia share anecdotes from their careers. Anastasia somewhat reluctantly shares why she is glad she had wedding ring insurance and discusses the Taber curse…
What does risk tolerance mean and how important is it in forming your investment strategy? What should you keep in mind as you start to invest? How do you know when to listen to your gut feeling about an investment decision and when not to? Bill discusses at what point after the 2008-2009 financial crisis that he knew the financial markets were abo…
How does Bill advise his clients when it comes to paying for adult children? What are the pros and cons of continuing to financially support children into adulthood? And for children, how important is it to discuss finances with parents, and when should that discussion begin? On the other hand, how do parents instill a sense of financial independen…
