The Life Planning 101 Podcast

AI and Retirement Planning

This week Angela discusses whether retirement planning is different today with the advent of artificial intelligence compared to the past. She shares her experiences from 2006 and emphasizes that while the tools and technology have evolved, the fundamental principles of successful retirement planning remain the same.
Key Takeaways 💡
Retirement planning software has evolved significantly since 2006, but advisors still need to understand the underlying principles and manually adjust the software's output to create accurate plans. Relying solely on software without understanding the fundamentals can lead to incorrect plans, highlighting the importance of hands-on experience and a deep understanding of financial mechanics.
Technology can aid in communication and problem-solving, but financial advisors must possess in-depth knowledge and troubleshooting skills, similar to a car mechanic who understands how all components work together. Advisors need to understand the intricacies of financial planning and be able to adapt to unforeseen circumstances.
A successful retirement plan requires a solid and truthful budget, clear goals, a healthy risk and income plan, a plan to address potential risks, and an understanding of economic cycles. While technology and tools evolve, these core elements remain constant and essential for achieving a successful and sustainable retirement.
A truthful budget is crucial for retirement planning, and a budget with rounded numbers is a red flag that the person doesn't know where their money is going. Understanding where your dollars are going is essential, as even a small miscalculation can significantly impact your retirement outcome.
While AI and technology offer an "easy button" for retirement planning, relying solely on these tools can be risky, as a successful retirement requires a comprehensive approach that considers individual circumstances and potential risks. Taking the time to develop a well-thought-out plan, even if it means foregoing the easy button, increases the chances of a successful and sustainable retirement.

Debt, Corruption, and the Future of America's Economy

Aaron Kennedy, Sam Barker, and Brent Bible tackle America’s $38 trillion debt, questioning whether the nation can grow out of it—or if corruption makes that impossible. From government investing and sovereign wealth funds to Bitcoin, AI, and lost freedoms, they explore how financial power and politics shape our future. Tune in for a candid, thought-provoking conversation on what it really means to live in a debt-driven economy.

This Week in the Market - Episode 90 (10-17-25)

Aaron, Sam, and Brent recap a steady week in the markets and why “boring” can be a good sign. They discuss ongoing negativity in the media, the freight recession that began in 2022, and how failures in trucking may actually lead to healthier pricing long term.
They also explore changes in shipping, automation, and technology—like drones—along with recent interest rate moves and a spike in overnight lending tied to tax season. The conversation also touches on silver and gold demand, currency mistrust, and real-world examples of price arbitrage.
To wrap up, they encourage listeners to get their risk right, keep some cash ready, and stay excited about future opportunities in a changing economy.

Pocketbook Power Plays

Inflation has made everything feel tighter—but there are ways to put money back in your pocket. In this episode, Angela shares five practical strategies to help you stretch your dollars without sacrificing your lifestyle:
✅ Reevaluate home and auto insurance✅ Use credit card rewards wisely✅ Make your cash actually earn interest✅ Cut interest costs on existing debt✅ Adjust your tax planning before 2026 hits
Talk is cheap—action saves money. Tune in and start putting these ideas to work today!

This Week in the Market - Episode 89 (10/10/25)

In this episode, Aaron, Sam, and Kade discuss the current state of the market, investment strategies, and potential opportunities amidst market fluctuations. They emphasize the importance of having a buy list, reframing down markets as opportunities, and understanding the impact of AI on various sectors. The guys also touch on the risks associated with chasing markets and the significance of aligning investments with one's risk tolerance.
Key Takeaways 💡
Down markets should be viewed as buying opportunities rather than negative events, and maintaining a buy list allows investors to capitalize when prices drop. It's crucial to reframe the perception of a down market to recognize the potential for future gains, as demonstrated by the opportunities presented during the COVID-19 pandemic.
The market is currently heavily influenced by AI, with a significant portion of growth concentrated in a few major technology companies. While these companies may be overvalued, there are numerous undervalued and overlooked sectors that present exciting investment opportunities, especially considering the transformative potential of AI across various industries.
The expansion of AI necessitates increased data, computing power, and energy, creating opportunities in sectors like nuclear energy, cooling solutions, and portable power. Companies involved in providing energy and infrastructure for data centers, such as those offering small modular nuclear reactors or advanced cooling systems, are poised for growth.
The Metals Company (TMC) presents an intriguing investment opportunity by sourcing rare earth metals from the ocean floor, offering a potentially environmentally friendly alternative to traditional mining. As rare earth metals are crucial for defense and computing, this venture could become increasingly important given China's dominance in the rare earth market and its use of these resources in trade negotiations.
While the current market resembles the dot-com boom in terms of excitement and high valuations, the underlying companies driving growth are generally of higher quality and generate more cash. However, investors should exercise caution and consider allocating a portion of their portfolio to safer assets like money market funds or short-term treasuries to mitigate potential losses in case of a market correction.
It's important to align investments with one's risk tolerance to avoid panic selling during market downturns, which can lead to permanent loss of capital. Investors should avoid drastically changing their investment strategy to chase returns, as this can result in buying high and selling low, ultimately hindering long-term financial goals.
Having a consistent stream of investable funds, such as through a 401k, allows investors to take advantage of down markets by purchasing assets at lower prices. This strategy can lead to significant gains when the market recovers, highlighting the importance of maintaining a long-term perspective and viewing market dips as opportunities to accumulate assets.

Your Estate Plan (Rebroadcast)

Angela discusses the importance of estate planning, particularly focusing on the differences between will-based and trust-based plans. She emphasizes the significance of having a well-organized estate plan to ensure that your assets are distributed according to your wishes and to avoid complications for your family after you're gone. The episode aims to demystify the concept of trusts and help listeners understand whether a trust-based plan is necessary for their specific situation.
Key Takeaways 💡
Estate planning is crucial because without a proper plan, settling an estate can take months or even years due to difficulties in locating and retitling assets. Companies often have strict requirements for retitling assets, such as medallion guarantee stamps, which can be challenging to obtain. Many people mistakenly believe that having a will is sufficient, but this may not always be the case, highlighting the need for a more comprehensive estate plan.
Overcomplicating estate planning can occur in two ways: either by becoming overly dedicated and trying to do too much at once, or by doing nothing and assuming everything will work out. Doing nothing can lead to more complications than having a plan in place. It's important to find a balance and take appropriate steps to ensure your estate is in order.
A will acts like a vacuum cleaner, picking up the remaining pieces of your estate after contract property (assets with specific titling or beneficiary designations) has been distributed. Contract property, such as IRAs or bank accounts with payable on death designations, supersedes the terms of your will. It is important to understand that titling and beneficiary designations take precedence over what your will states.
Assets passing through a will need to be itemized, found, listed, and valued, then go through probate, which can range from simple and quick to cumbersome, lengthy, and expensive. Many people underestimate the complexity of their estate, assuming it's simple because they consider themselves to be simple people with not a lot of assets. However, in reality, most Americans have more complex estates than they realize.
To understand the complexity of your estate, create a list of everything you own, including cash, personal possessions, bank accounts, CDs, investment accounts, credit cards, online accounts, annuities, life insurance policies, precious metals, businesses, properties, and safety deposit boxes. For each item, determine its value and how it is titled, as well as what would happen to it upon your death. This exercise will give you a taste of the homework your executor will have to do.
Probate involves working with an attorney, potentially going to court, paying creditors, closing accounts, and retitling assets, first to the estate and then to the beneficiaries. Some states are not friendly to probate, charging hefty fees to the estate. Probate can often be avoided by ensuring your contract property is set up correctly with appropriate beneficiary designations and payable on death designations.
A living trust, when used correctly, can alleviate heartache for a grieving family by avoiding probate. With a trust-based plan, the living trust becomes your will, and a pour-over will ensures any forgotten assets are included in the trust. Assets titled in the name of the living trust or with designations to go to the trust avoid probate, making the process of finding assets, documents, and retitling much simpler.
The downside of a living trust is that people often fail to retitle assets into the trust or continue to purchase assets without titling them to the trust, negating the benefits. A good trust document should make purchasing or financing items seamless for the trust. A living trust does not change your taxes, asset protection, or privacy. While setting up a trust can be expensive, it is often less expensive to administer than probating a will-based estate.

Two Reasons You Get Sued (Rebroadcast)

In this episode, Angela discusses the importance of asset protection planning in today's litigious society. She emphasizes that anyone can be sued, regardless of their wealth, and highlights the need for preventative measures to safeguard one's assets. The episode aims to educate listeners on how to create a holistic asset protection plan to mitigate risks and live life on purpose.
Key Takeaways 💡
There are an estimated 40 million lawsuits filed every year in the United States, highlighting the importance of being prepared for potential legal action. It's crucial to consider whether you could afford to defend yourself in a lawsuit and to understand the stress it would cause. Prevention is key, and having preventative measures in place is always a good idea.
An asset protection plan is a foundation for living life on purpose, and without it, individuals are vulnerable to financial loss. It is important to know where you stand, what is at risk, and who to call in case of a lawsuit. Preventative measures do not guarantee that you will not be sued, but they can help you know where you stand and what is at risk.
Many successful people lack a comprehensive asset protection plan, often because their existing professionals focus on their specific areas of expertise without considering the holistic picture. It's essential to have someone quarterback the plan and look at everything holistically to ensure all aspects are covered. Without a holistic asset protection plan, individuals may be exposed to significant financial risks.
Creating a good asset protection plan involves reviewing all assets, how they are titled, income, debt, and insurance policies to ensure they align properly. Many people operate under false assumptions, such as believing they have adequate umbrella insurance or that their trust provides sufficient protection. A revocable trust, for example, offers limited asset protection because the grantor can take the assets back, making them accessible to creditors.
Putting an asset protection plan in place often requires a team effort involving attorneys, insurance agents, accountants, and bankers who are all on the same page. A life planner can help facilitate communication between these advisors to ensure there are no gaps or overlaps in coverage. This holistic approach helps individuals live life on purpose by identifying and addressing potential risks to their financial well-being.
Procrastination, cost concerns, and not knowing where to start are common reasons why people don't have an asset protection plan. However, the time, cost, and stress of being sued can be far greater than the investment in a proactive plan. Planning now can prevent significant financial losses later, emphasizing the importance of taking action to protect one's assets and live LIFE on purpose.

Do You Really Want a Successful Retirement?

In this episode, Angela discusses the importance of truly wanting a successful retirement and being willing to make the necessary sacrifices to achieve it. She shares a personal story about her grandparents' disciplined approach to finances and uses an analogy of an elite pianist to illustrate the dedication required for success.
Key Takeaways 💡
Angela shares a story about her grandmother, who meticulously kept a budget in a little green book ever since retirement. Despite not having a lot of money, her grandmother never worried about finances because she had a clear understanding of her income and expenses, which allowed her to travel and enjoy her retirement.
Angela asks listeners to consider if they truly want a successful retirement and if they are willing to make the necessary sacrifices to achieve it. She challenges listeners to be honest with themselves about their financial habits and priorities, emphasizing the importance of aligning their actions with their retirement goals.
Angela shares a story about a pianist who, when told someone wished they could play like him, responded that they likely didn't truly want it. The pianist explained that achieving such skill requires immense dedication, sacrifice, and perseverance, implying that many people are not willing to put in the necessary effort.
Angela questions whether listeners are willing to change their lifestyle today to ensure a successful retirement, suggesting potential sacrifices such as downsizing their home, quitting expensive habits, and rearranging their priorities to save more. She stresses the importance of saving at least 20% of one's income, especially for young people, to secure their future.
Angela emphasizes the need to protect one's future through financial planning and insurance, even if it means sacrificing immediate gratification. She highlights the importance of gathering financial data and creating a plan with a financial planner, as well as being willing to implement the plan and make necessary changes.
Angela argues that most people don't truly want a successful retirement because they are not willing to do what it takes to achieve it. She points out the power of immediate gratification and how it can hinder long-term financial goals, urging listeners to examine their thinking and be honest about their priorities.

This Week in the Market - Episode 88 (9/19/25)

In this episode of Black and White Market Minute, Aaron Kennedy and Sam Barker discuss the current state of the market and economy. They explore whether the market is in a bubble, considering factors like investment, productivity, and historical comparisons. They also touch on the potential impact of AI and energy on future growth.

Do You Really Have Enough Life Insurance?

On this week's episode, Angela discusses the importance of life insurance and addresses common misconceptions about its cost and coverage. She emphasizes the need to assess whether individuals are adequately insured, especially considering that many Americans are either uninsured or underinsured. The episode aims to educate listeners on making informed decisions about life insurance to protect their families' financial futures.
Key Takeaways 💡
A significant number of Americans, estimated at 42%, believe they are either uninsured or underinsured, according to a 2024 LIMRA study; however, this is a self-diagnosed statistic, suggesting the actual number of underinsured individuals may be even higher, highlighting the need for greater awareness and education about adequate life insurance coverage.
While permanent life insurance policies have their place, they are not always the best solution for everyone, and it's crucial to avoid canceling term insurance to purchase smaller permanent policies, as having the right amount of coverage is more important than the type of policy.
When determining the appropriate amount of life insurance, it's essential to consider income replacement for the surviving spouse, especially for younger families or those building towards retirement, as well as those in retirement who may need to fill gaps due to pension benefits or expected inheritances.
A million dollars in life insurance may not provide as much income as one might think, as a sustainable income that keeps pace with inflation might only yield $30,000 to $40,000 per year, emphasizing the need to consider the amount of income that would need to be replaced in the event of one's death.
Term insurance can be an inexpensive way to obtain a significant amount of coverage, and a 45-year-old man in decent health can obtain a million-dollar term policy for around $170 a month, making it a viable option for those who may have thought they could not afford adequate coverage.
When selecting a life insurance policy, it's important to consider factors beyond just the cost, such as the insurance carrier's stability and the policy's features, including the ability to convert to a permanent product or use the death benefit for chronic care, as the cheapest policy may not offer these valuable benefits.
Individuals can use the life insurance needs calculator provided by the Life Happens organization to determine how much life insurance they need, and it is important to seek professional guidance to build a holistic plan that fits their needs and goals.

What is Your Money Really Making?

In this episode, Angela discusses the importance of considering taxes and inflation when evaluating investment returns. She emphasizes that ignoring these factors can significantly reduce the real rate of return and impact long-term financial planning. She also touches on the potential financial challenges facing future generations due to factors like boomer spending habits, healthcare costs, and tax implications on inherited retirement plans.
Key Takeaways 💡
When evaluating investment returns, it's crucial to consider the impact of taxes and inflation to determine the real after-tax rate of return. A seemingly good return of 10% can be significantly reduced to around 2.9% when factoring in a 40% tax rate and 3% inflation, highlighting the importance of tax-efficient investment strategies. Ignoring these factors can lead to an inaccurate understanding of how much money you're actually making and whether your investments are truly keeping pace with the rising cost of living.
Even seemingly safe investments like money markets and interest-bearing instruments can result in negative real returns after accounting for taxes and inflation. For example, a 4.5% return on such investments can turn into a negative 0.29% real return when subjected to a 40% tax rate and 3% inflation, illustrating the need to consider all financial planning aspects. This underscores the importance of seeking professional advice to navigate the complexities of tax planning and investment strategies.
Boomers like to spend money, and the X and Y generations should not rely on inheriting their parents' money for retirement. Boomers may be spending more than they can sustain, and long-term healthcare costs could deplete their funds. Additionally, inherited qualified retirement plans are subject to taxes within 10 years of inheritance, which could significantly reduce the amount received.
Ignoring taxes and inflation in financial planning is a mistake, as Uncle Sam and inflation can significantly erode investment gains. However, there are strategies to mitigate these effects, such as creating tax-free investment vehicles and adjusting investment strategies. It's essential to consult with a financial professional to develop a comprehensive financial and tax plan that addresses these challenges and helps achieve long-term financial goals.

What Do You Want Your Story to Be? (Rebroadcast)

In this episode, Angela encourages listeners to reflect on their lives and consider whether they are living with purpose. She shares an unusual obituary as a starting point for reflection and challenges listeners to envision their own lives and legacies, urging them to take steps to align their actions with their desired stories.
Key Takeaways 💡
Reflecting on others' lives, such as through obituaries, can provide valuable insights into our own lives and help us consider our purpose. The story of Pat Stocks, a 94-year-old woman whose obituary was shared on the podcast, serves as a reminder that life is short and encourages listeners to think about what they want their own stories to be.
It's important to periodically assess whether you are living the life you truly want and to align your actions with your values and goals. Many people get caught up in the busyness of life and fail to pause and reflect on whether they are living with purpose, often ignoring the signs that they may not be on the right path.
To gain clarity on your life's purpose, imagine yourself in your favorite place during your final days, looking back on your life and consider what you want your story to be. Then, assess whether you are currently living that story and identify any areas where you need to make changes.
We offer a tool called the "LifeScore Card" on our website (https://www.kennedy-financial.com/lifescore-card) to help individuals assess different areas of their lives and identify areas for improvement. This tool can provide a more detailed and nuanced understanding of how well you are living in alignment with your desired story.
Most people only get one chance to raise their kids, enjoy their grandkids, and experience retirement, so it's crucial to live with intention and purpose. Instead of simply going through the motions, strive to live a life that reflects your values and passions.
Writing your own obituary can be a powerful exercise to gain clarity on your priorities and identify areas where you may want to make changes in your life. This exercise can reveal discrepancies between what you consider important and how you are actually spending your time and energy.
The poem "The Dash" by Linda Ellis emphasizes that the most important aspect of a person's life is not their possessions or accomplishments, but how they lived and loved during the time represented by the dash between their birth and death dates. Listeners should reflect on whether they would be proud of how they spent their dash.