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Recent Episodes

S4EP11 Social Pressure - Do I Really Need That Beach/House/Porsche/Hermes?

In today's world, with social media's help (or curse?), we are beyond "keeping up with the Joneses." Billions of people on the internet are our "neighbor Jones" that we are trying to keep up and compete with, from the 5 bedrooms house in the Valley to the new Porsche, from traveling to Naples on a whim with some friends to the new Birkin special order. Social pressure spending can get out of control fast. Dan gave some chilling data: did you know 40% of millennials have gone into debt to keep up with their friends? Oh my... Gary gave some tips on keeping your FOMO ("fear of missing out") spending in check. One of my personal favorites: practice gratitude!

S3EP43 Silicon Valley Bank - Are My Deposits Safe?


Nathaniel and Tim discussed the collapse of Silicon Valley Bank: what happened and what went wrong. First, unlike most banks, most of SVB's clients are not retail individuals/small businesses, but VC-funded tech/crypto startups. As you know, they are having a tough year. They are burning through cash and thus taking significant deposits out of SVB. SVB had to sell its long-term bonds/Treasuries at a loss to cover its withdrawals. The snowball started to roll from there. Because most of its clients are VC-funded startups, the average account is a whopping $4.2 million, far over the FDIC's threshold of $250,000 per account per bank (the definition is more complex than this). Therefore, when the snowball got going, depositors had a legitimate worry that they may not get their money back, creating a feedback loop that exacerbated the situation. We believe this is an isolated situation because of SVB's unique client base and its management's apparent risk management oversight. Of course, nothing is risk-free (not even U.S. Treasuries), but the average person's accounts are likely safe.

S3EP9 SECURE ACT 2.0 - How Does It Impact Me?

Caroline and Tim discussed some highlights of SECURE ACT 2.0 and how it impacts us: 1. The age changes of RMDs (Required Minimum Distributions). 2. Allowing direct transfers from 529 plans to Roth IRAs under certain circumstances. 3. Changes with 401(k)s. 4. 401(k) catch-up contributions. 5. New Roth SIMPLE/SEP IRAs for small businesses and self-employment. 6. Employer's match for emergency savings. All these new rules have nuances/circumstances built around them; please consult an Advisor and see if they make sense for you.

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