Financial talk radio veteran, Don McDonald and former host of Serious Money on PBS, Tom Cock, join forces to talk about real money issues. In each episode, they solve real money problems, dole out real investing (not speculating) advice, and really explain the financial issues that effect all of us. Plus, it's actually fun! Talking Real Money is a podcast designed to provide the real help we all need to enjoy a really great future. Call in with your questions anytime at 855-935-TALK (8255).

Don’s back from NYC with pride (and maybe jet lag), tackling a full slate of thoughtful listener questions. From Roth conversions and the TSP G Fund to cash balance plan gimmicks, RMD timing, overpriced 401(k) plans, and yes, the eternal question: Are annuities ever worth it? Don delivers straight talk, a little outrage, and no-nonsense advice—with some well-placed jabs at the industry’s smoke and mirrors.

0:04 Don returns from NYU graduation trip and thanks listeners for sending questions0:56 Should a 54/61-year-old couple convert traditional IRA to Roth? “It depends”3:05 Federal employee asks about the TSP G Fund – why it’s loved, and when not to use it5:47 High earners ask about cash balance plans – Don says beware the fees and opacity11:05 Planning for RMDs at 73 – monthly, quarterly, or lump sum? Don prefers year-end13:38 60-year-old stuck in a principal 401(k) with 2.3% fees – Don goes full outrage18:28 “Are annuities ever appropriate?” Yes—but rarely, and only immediate ones
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Talking Real Money - Investing Talk

You Ask. Don Rants.

Don and Tom launch into a globe-trotting episode—complete with multilingual greetings and a cameo from Cookie Monster—before diving into the serious question of global investing. They challenge the "home country bias" that keeps investors overly concentrated in U.S. stocks, highlight the recent performance gap favoring international small-cap value, and remind listeners that chasing returns and market timing are just two sides of the same bad investing coin. With personal anecdotes, Japan’s long recovery, and fund comparisons (VT, AVGE, DFAW), they make a rock-solid case for global diversification. Plus: a real-life trustee dilemma, a potentially smart annuity strategy, and a few dad jokes you didn’t ask for.

0:04 Multilingual greetings, Cookie Monster, and off-the-rails intro1:38 Listeners ignore the banter—jump straight to annuity questions2:05 “Why would I want foreign stocks?” US home bias gets roasted2:39 International small-cap value up, S&P down—performance flips3:23 Blackberry nostalgia, Don’s voiceover gigs, and cowboy auditions5:30 U.S. vs. international investing—timing or chasing returns?6:48 Market cycles and why global investing reduces regret8:26 Feelings aren’t facts—own the planet, not your predictions10:08 Japan's 34-year climb back—and the real lesson of 199011:49 Dividends matter: Japan’s returns weren’t all dead12:20 Comparing VT, AVGE, and DFAW for global exposure14:33 Why Don prefers global funds over DIY U.S./intl combos15:30 A 1992 Japan vs. global return showdown—$10k becomes $41k or $233k17:50 They buried the lead—global diversification wins again18:14 Listener corrects math on 4% rule—Don admits the slip19:06 Comment on borrowing from 401(k) and the “double-tax” myth20:04 Facebook dad jokes derail Tom’s patience20:53 Trust investing dilemma: annuity vs. portfolio income23:50 Immediate annuity may be the best fit for a “failed-to-launch” son25:23 Where to shop for no-load annuities—Fidelity, Ameritas, Stan the Annuity Man
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Diversify or Die (Poor)?

In this episode, Don and Tom rewind to the not-so-golden era of Wall Street paperwork, bringing a modern perspective to old-school investing habits. They tackle listener questions around dividend investing, the allure of individual stocks, and whether the 'buy and hold forever' mindset still holds up in the era of ETFs. Along the way, they dismantle outdated advice, give historical context to stock certificate culture, and steer listeners back toward diversified, evidence-based strategies. A little nostalgia, a lot of myth-busting.

0:00 — Opening thoughts on old-school investing1:30 — Why dividend stocks still captivate investors (and why they shouldn’t)3:45 — Caller wants to hand-pick dividend stocks for income—Don’s got a better plan6:12 — The problem with nostalgia-driven portfolios7:55 — What a pile of stock certificates used to represent—and what it doesn’t anymore9:40 — Why ETFs offer smarter, cheaper, saner exposure to dividends12:18 — Tom reflects on the emotional appeal of owning "pieces of companies"14:02 — Another caller asks: Should I dump my dividend ETF for higher-yield stocks?15:40 — Compounding, risk, and the illusion of control17:00 — Why chasing yield can lead to capital destruction19:15 — Final thoughts: Don’t mistake familiar for safe, or paper for value
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There's an Easier Way

Don and Tom take aim at America's favorite financial myths—starting with the widespread belief that real estate and gold are the best long-term investments. They present nearly 100 years of historical data to show why stocks have far outpaced both. The conversation also tackles misleading annuity pitches, a classic pension lump sum dilemma, and the age-old question facing 20-somethings: save for a house or retirement? Callers bring smart questions about guaranteed annuities, where to park surplus cash, and the VT vs. VTI+VXUS tax argument. As always, the show delivers investing wisdom with skeptical charm and a few zingers.

0:10 — A third of Americans believe real estate or gold are the best long-term investments1:40 — The real historical winners: stocks beat gold and real estate by miles3:03 — Nearly 100 years of returns: real estate (4.2%), gold (5%), stocks (9.9%)6:00 — Don’s missed heart procedure and Tom’s recycled joke vault7:49 — Don’s NYC hotel sticker shock vs. Tom’s five-star absence excuse9:02 — Caller Jim asks about multi-year guaranteed annuities as bond alternatives10:01 — Why MYGAs aren’t remotely comparable to U.S. Treasuries13:07 — If something looks too good (5.8% guaranteed), it probably isn't14:25 — Another Jim (Florida) asks: lump sum or $250/month pension?17:30 — Financial flexibility vs. longevity risk in pension decisions21:32 — Listener dilemma: save for retirement or a house at 24?23:57 — Why early Roth contributions beat early homeownership for long-term wealth25:41 — Kyle in Indianapolis has an extra $40K—where should it go?27:26 — If it’s 5 years, don’t risk stocks. If it’s 10+, maybe30:47 — Allie from Wyoming asks: VT vs. VTI+VXUS for better foreign tax credits32:25 — Why foreign tax credit isn’t a good enough reason to skip VT34:21 — Global GDP, stock valuations, and the eternal U.S. vs. international allocation debate
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Don McDonald

Talking Real Money - Investing Talk by Don McDonald

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