The #AskTheAdvisor Show

The #AskTheAdvisor Show

By Mike Desepoli
On a mission to transform personal finance. Teaching people how to use money as a tool to increase their return on life. Have a question? We would love to answer it, email them to mike@asktheadvisor.com

Securities offered through Registered Representatives of Cambridge Investment Research, Inc., a broker-dealer, member FINRA/SIPC. Advisory services offered through Cambridge Investment Research Advisors, Inc. a Registered Investment Adviser. Heritage Financial Advisory Group and Cambridge are not affiliated
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Ask The Advisor 153 | What's Driving The Rally in The Stock Market?
The market has been surging recently and there's 2 things on investors minds: What is powering the rally? And can the market continue to move higher? Mike discusses in this week' #AskTheAdvisor.
07:53
July 30, 2020
What Will The Economic Recovery Look Like? | #AskTheAdvisor 152
Predicting the future is dicey business, especially when it involves the future of business. Drawn-out uncertainty, as we’re experiencing with the impact of states retracting their shelter-in-place mandates, only makes it more so.  Covid-19 startled the world with its ferocity, spreading viral contagion and economic chaos at an accelerating pace. The federal stimulus packages, in addition to actions by the Federal Reserve to decrease short-term interest rates to zero and buy bonds, increased the money supply and injected liquidity into the financial system, but consumer sentiment is about as low as it can go. Everyone is anxious about their health, jobs and finances.  The silver lining? The economy will recover… at some point. What will the recovery look like? We discuss on #AskTheAdvisor .
04:51
June 16, 2020
For Better Or Worse | #AskTheAdvisor 151
The #1 question we are hearing these days is how can the market keep climbing higher with so many Americans unemployed and so many businesses shuttered? What if I told you the market doesn't care about "good" or "bad".....but instead sees the world through the lens of "better" or "worse". We know things are tough right now for the economy...but things appear to be "better" than they were a month ago, and for now that is what the market cares about most. Mike explains in this week's #AskTheAdvisor .
04:25
June 9, 2020
How Quickly Can I Double My Money? | #AskTheAdvisor 150
If you put your money in the right places, it can grow substantially over time, thanks to the power of compound interest. It could even double, while you don’t have to do a thing. Want to figure out just how fast your money could grow? The “Rule of 72” approximates how many years it will take for your money to double, given a fixed rate of return. This week on #Asktheadvisor we take a look at this simple math equation, and how it can help you with setting goals for your investments.
03:36
May 22, 2020
How We Can Save The US Economy
The federal response to the COVID-19 pandemic has been historic in its magnitude, speed, and nearly unanimous congressional support. But it has also created many unintended consequences for small businesses due to the government imposed lockdown policies. As the US continues to suffer from the economic destruction that lockdown policies create, it's time to think big and bold about how we can save the US economy. Here's Mike's take on how we can save the US economy.....hint: the answer lies in the hands of the US consumer.
07:04
May 8, 2020
Flatten The Curve....Not The Economy
Now, you've been hearing everywhere else about the Coronavirus and the latest numbers and the medical response. But I want to focus on what I think is an even bigger crisis, and that is the economic, social and above all, human cost of the total shutdown policy. But there is a huge gap between sensible social distancing and the total shutdown spreading across the country. Just as the spread of coronavirus creates a curve of the number of people infected, this economic shutdown is creating a curve of the numbers of people affected, losing their jobs, their homes, their businesses. We discuss in this week's #asktheadvisor
06:43
April 28, 2020
How Your Brain Reacts To A Stock Market Crash
When the stock market gets hammered, it's not just your portfolio that takes a beating, it's your brain too. Stress wreaks havoc on the human brain, and you’ll need to work hard to keep it from panicking and laying waste to all those long-term investing goals you put in place for yourself. This week on #AskTheAdvisor 147 we discussed the science behind behavioral finance, so you can have a better grip on your emotions the next time markets get choppy.
06:49
April 23, 2020
Why This Recession WILL NOT Be A Depression
With the US likely in a recession, the fear mongering media has a new favorite buzzword....."depression". Everywhere you turn these hacks are telling you that this recession is guaranteed to be a depression (because, ya know, they know so much about economics). I am here to tell you why this will not be a depression. 
05:51
April 15, 2020
Markets Have Their Best Week Since 1974
The stock market just wrapped up it's best week since 1974......yes, you read that right......the best week in 36 years. How on earth could the market trade higher with the news around coronavirus seemingly so bad? We discuss in today's podcast. 
05:20
April 9, 2020
Have We Reached A Turning Point?
Today is Monday March 30th, 2020 and the markets just closed for the day. We're here to tell you everything you need to know, and to answer one big question on investors minds...."Have we reached a turning point?". Listen to find out. 
04:59
March 30, 2020
The Stimulus Package: What You Need to Know
Late last night the senate passed the Care Act (finally). This stimulus package is aimed at helping families, individuals, and business weather the storm that is the Coronavirus. There's a ton of stuff in this bill, so we break down everything you need to know. 
07:29
March 26, 2020
Where The Hell Is Congress?
Markets roared higher today as the ineptitude of Congress is now on full display for the world to see. If anyone ever wondered why Americans have such a burning hatred for Congress, look no further. Their lack of action in America's most crucial time is disgusting, abhorrent, and we should make them ALL pay at the ballot box in November. 
06:10
March 24, 2020
How To Survive A Stock Market Crash
When stock markets crash, most investors feel a sense of panic. There’s nothing remotely comforting about seeing your stocks falling more than 10% in a single day. We humans are, by our very nature, loss-averse. The first thought that may come to mind, especially for inexperienced investors, is to start selling stocks. But history has shown us that doing this can be disastrous. We should be buying stocks at market lows and selling them at market highs (or better still, holding them and banking lots of juicy dividends), not the other way round. Check out this week's pod to hear my thoughts.
04:12
March 17, 2020
The Feds To The Rescue?
The federal government is floating the idea of fiscal stimulus to inject strength into the economy while it battles the coronavirus. Will it work? We discuss.
03:20
March 10, 2020
Capital Gains Explained | #AskTheAdvisor 143
If you have an investment account, it's very likely you have encountered capital gains at some point in the past. With tax season approaching, it's natural that investors will have a lot of questions about long term and short term capital gains. This week on #AskTheAdvisor we break it down simple and easy to give you the info you need to know.
04:30
March 4, 2020
What Kobe Bryant's Death Can Teach Us About Estate Planning
The sports world lost a titan on Sunday January 26th, 2020 when Kobe Bryant, along with 8 others including his 13 year old daughter, died tragically in a fiery helicopter crash. Kobe's influence extended far beyond the NBA, and through his talents and stardom he amassed over $680 million dollars of earnings throughout his career. In this week's episode we discuss the importance of estate planning, and how we can be prepared for what life throws at us.
04:49
February 21, 2020
The Coronavirus and The Economy | #AskTheAdvisor
This week on #asktheadvisor we discuss the coronavirus and the potential impact on the global economy.
04:46
February 4, 2020
My Favorite Spending Hack | AskTheAdvisor
The 30-day Rule is a Simple Method to Control Impulse Spending. Here's how it works: Whenever you feel the urge to splurge — whether it's for new shoes, a new videogame, or a new car — force yourself to stop. If you're already holding the item, put it back. Leave the store. When you get home, take a piece of paper and write down the name of the item, the store where you found it, and the price. Also write down the date. Now post this note someplace obvious: a calendar, the fridge, a bulletin board. (I use a text file on my computer.) For the next thirty days, think whether you really want the item, but do not buy it. If, at the end of a month, the urge is still there, then consider purchasing it. (But do not use credit to do so.) That's all there is to it. But it's surprisingly effective. The 30-day rule works especially well because you aren't actually denying yourself — you're simply delaying gratification. This rule has another advantage: it gives you a chance to research the item you want to purchase. This can save you from grief.
03:26
December 31, 2019
How Does Behavior Influence Investing?
When it comes to money and investing, we're not always as rational as we think we are—which is why there's a whole field of study that explains our sometimes strange behavior. Where do you, as an investor, fit in? Behavioral finance attempts to understand and explain how human emotions influence investors in their decision-making process. You'll be surprised at what they have found. Check out this week's #asktheadvisor and let us know what you think!
05:04
October 2, 2019
My Thoughts on The FIRE Movement
 The FIRE movement — which stands for financial independence, retire early — has been quickly gaining mainstream appeal in recent years. But there are alot of misconcepitions with this movement, so this week we break it down on #AskTheAdvisor .
04:17
July 17, 2019
How To Improve Your Relationship With Money
Ever wonder how you can improve your relationship with money? Many people have a complicated relationship with money. Hang-ups carried over from childhood experiences get mixed together with positive and negative experiences from adulthood. Few people ever take the time to reflect on what money really means to them and how they can “get right” with money to make smarter decisions. Take time to answer these 5 questions and you’ll do a better job of living your best life possible with the money you have.
07:11
June 19, 2019
What's The Difference Between Marketing, Advertising, and Branding?
In our work with entrepreneurs and executives we often hear alot about business growth strategies. Media, advertising, marketing, and branding are all terms that are thrown around alot, but many people don't know the difference between all of them. There are some important distinctions, and it's crucial to know them to ensure you are spending your time, money, and energy wisely to grow your business. If you work in marketing, we would love to hear from you! How do you help your clients navigate these complicated waters?
06:55
May 23, 2019
China Trade and The Tariff Tantrum
Tired of hearing about china, trade, and tariffs? We are too.....here's why it's important that you don't blink.
07:52
May 15, 2019
Investing Success Takes Discipline
 Investment discipline isn’t easy. Despite best intentions and claims to the contrary, many investors chase performance, and react emotionally to market moods. Even when there is a long-term plan in place, if it’s not followed, the plan is useless. Over the years, I’ve seen good intentions go by the wayside time and again because discipline was not followed. Anything worth achieving in life is going to take discipline. This week on#asktheadvisor we discuss why it's so important if you want to achieve your financial goals.
03:47
May 7, 2019
The Million Dollar Question: "Can I Retire?"
It's a simple question, but knowing when, and how much you need to retire can be tricky. Here are a few things to consider. 
04:04
May 2, 2019
Free College and Student Debt Forgiveness?? No Shot.
This week we break down Senator Elizabeth Warren's radical new proposal to make college free, and wash away your student loan debt. Sound like fantasy land? Not in her world. Here's our hot take.
07:32
April 23, 2019
The 7 Deadly Sins of Retirement Planning
For many Americans, their dreams of a prosperous retirement are giving way to nightmares. They have significantly unprepared themselves during their 40 years of work for their 25-30 years in retirement. With many of these folks growing up during an economic boom, how in the world did we get here? Committing the 7 deadly sins of retirement, that’s how.
08:42
April 16, 2019
4 Mistakes Millionaires Make
It’s not uncommon for those who amass wealth to lose focus on their long term goals and over time, their strategy starts to unravel. Here are 4 common mistakes millionaires make.
06:54
March 15, 2019
Why You Shouldn’t Want a Big Tax Refund
It’s tax filing season once again, and while everyone rushes off to their accountants hoping for a windfall in the form of a tax refund, we’re here to tell you why that is the LAST thing you should want.
07:20
March 6, 2019
This is the #1 Killer of Wealth
Bad spending decisions are crippling to your financial health, but I bet you would be shocked to find out what’s causing the biggest damage to your finances. Check out this week’s episode to find out what it is, and what you can do about it.
09:01
February 20, 2019
4 Letters That Are Destroying Your Finances
If you didn't already know it, YOLO is an acronym which stands for You Only Live Once. So far as we know that is certainly a true statement. But when it is stated in connection with finances, it is also associated with a spendthrift attitude, which is probably best summed up with the phrase "spend now and worry later." The problem with following that path is multifaceted, not least of which because all debts eventually come due. Worse still, it could destroy your financial future. Check out this week's episode and let me know what you think.
04:48
January 31, 2019
5 Things You Can Learn From The Stock Markets Correction
As you probably noticed, the stock market took investors on a wild ride last week. At times like this it is more important than ever that you keep your cool and stay grounded to your plan. We have 5 tips to help you out and make you better off for the next one.
05:05
October 16, 2018
Social security secrets most Americans don’t know
Social security plays an essential role in providing the income that Americans need after the end of their careers, yet many people don’t fully understand everything they should know about the program. What you don’t know can end up costing you after you retire, so tune in for some valuable info.
05:45
September 20, 2018
The 10 Commandments of Retirement
Americans are faced with a host of issues when it comes to retirement. Will social security remain solvent? Will Medicare be affordable? Am I saving enough money? In the end you don’t need to worry about all Americans, you only need to worry about yourself. Want a comfortable retirement? Follow my 10 commandments.
05:55
September 12, 2018
Aretha Franklin Died Without a Will
On August 16th the world lost the queen of soul after a long battle with pancreatic cancer. For all the success she had in her lifetime she failed to take care of one very simple estate planning basic......creating a will. She leaves behind an $80 million estate, and that will come with a hefty price.
06:57
September 5, 2018
9 Financial Moves You Will Always Regret
We all do dumb stuff with our money, especially when we’re young. But there are a handful of bad financial moves that almost always come out negative. Nobody’s perfect, but if you avoid these mistakes, you’ll probably be in good shape money wise.
05:50
August 28, 2018
5 Ways To Avoid Becoming a Failed Retiree
Developing a meaningful retirement doesn’t just happen. In fact, many people actually become a “failed retiree”. That is someone who is depressed with long days ahead and no fun or meaningful activities that they partake in. By following these five action steps, you can avoid becoming a failed, miserable retiree.
04:24
August 21, 2018
13 Power Moves for Your Money
Even if your savings aren’t on track, you don’t have to resign yourself to a life of poverty in retirement. In fact, you can retire rich enough to have a comfortable lifestyle by following these power moves for your money.
07:26
August 9, 2018
4 Surprising Ways To Build Wealth
You likely already know the standard advice about binding wealth: live below your means, max out your retirement accounts, pay off your debt...but in addition to those tried and true methods here are a few lesser known ways to build wealth.
05:07
July 31, 2018
The Worst Advice I Ever Heard
This week we breakdown the worst financial advice I’ve ever heard, and it may not be what you think.
04:07
July 19, 2018
Stop Lying to Yourself about Money
The only thing worse than making a financial mistake, is making it a 2nd time. This week we serve up a healthy dose of reality and challenge you to stop telling yourself lies to feel better about the dumb decisions you make with money.
04:57
June 27, 2018
4 Ways To Invest Your Time Wisely
In a world where time is money and efficiency is everything, here are 4 productivity hacks to make sure your not wasting a minute in your day.
04:22
June 19, 2018
The Hot Hand Fallacy
This week on #asktheadvisor we are in Las Vegas, and what better place to discuss the “hot hand fallacy”
03:59
June 4, 2018
5 Things Successful People Always Do
In a world where time is money, efficiency is everything. Check out these 5 productivity hacks that successful people do every single day.
03:58
May 21, 2018
This is killing your finances
This week we discuss the number one threat to your financial success, instant gratification. The need to see immediately results, or have the things we desire in an instant has a detrimental impact to your finance. Today we tackle the notion and what to do about it.
03:50
May 14, 2018
How to be productive, not busy
How to be productive, not just busy
03:56
May 9, 2018
Tips To Succeed Investing
Episode 1: Keys to being a successful investor!
04:55
April 30, 2018