This week's blogpost - https://bahnsen.co/4tQ4xaA

Trevor Cummings hosts the Thoughts of Money Podcast with article author Blaine Carver and Brett Bonecutter, discussing Carver’s piece “Stock Market Expectations.” Using examples from relationships, premarital counseling, and sports fandom, they emphasize that expectations must be communicated early, clearly, and realistically to avoid disappointment, resentment, and poor decisions. They connect this to investing by explaining how stocks can fall even on good results when expectations are “priced to perfection,” why unrealistic return targets (e.g., 20–25% annually) break financial plans, and how compounding magnifies small percentage differences.

00:00 Welcome to the Thoughts on Money Podcast + Introducing Blaine & Brett

00:21 Under-Promise, Over-Deliver: Why Expectations Drive Everything

00:59 Vikings Season Story: Rock-Bottom Expectations → “Best” Year

02:05 From Football to Finance: Priced to Perfection & Pleasant Surprises

04:34 Expectations in Marriage (and Advisor-Client Relationships)

06:55 Unrealistic Return Targets: The 20% Conversation & Compounding Reality Check

10:39 Long-Run vs One-Year Thinking: Annual vs Annualized + Attribution

12:11 Strategy Whiplash: 2025 vs 2026 Reversal & Staying the Course

14:35 The Expectations Gap: Investors Want 12.6%, Advisors Model 7.1%

17:27 Why the Gap Exists: Valuations, History, and Risk Accountability (Bitcoin Example)

20:19 The “Road” Matters: Normal Drawdowns, Slow Recoveries, and the Bumpy Path

26:17 Coping Tools: Dividends, Business Fundamentals, and the 14% Intra-Year Drawdown

29:52 Optimists vs Pessimists: Experience, Confirmation Bias, and Fear of Running Out

37:37 Closing Reflections: Gratitude vs Grumbling + Final Thoughts & How to Reach Us

Links mentioned in this episode:

• http://thoughtsonmoney.com
• http://thebahnsengroup.com

This week's blogpost - https://bahnsen.co/3ZQiqYm

In this episode of the 'Thoughts So Money' podcast, host Trevor Cummings, joined by Blaine Carver and Brett Bonecutter, discusses the perils of fad investing, drawing comparisons with the long-term success of a grounded investment philosophy. The conversation explores various speculative trends, including cryptocurrency and gold, and emphasizes the importance of understanding the historical context and adhering to investment principles rooted in consistent cash flow and dividend growth. The team shares personal anecdotes and insights on why relying on speculative investments can be detrimental, while having a robust and historically proven strategy is key to financial success.

00:00 Introduction and Host Welcome

00:25 Fad Investing Explained

03:27 The Comfort of a Consistent Investment Philosophy

06:40 The Psychology of Investing

08:53 Artificial Intelligence and Investment

19:19 Gold as an Investment

23:12 Understanding Gold's Value

23:40 Speculation and Investment Philosophy

24:20 Cryptocurrency and Digital Gold

25:30 Speculative vs. Cash Flow Investments

29:02 Real Estate Investment Examples

31:11 The Risks of Speculative Investments

38:11 Investment Philosophy and Consistency

49:24 Concluding Thoughts and Advice

Links mentioned in this episode:

• http://thoughtsonmoney.com
• http://thebahnsengroup.com

This week's blogpost - https://bahnsen.co/4t4WLct

In this episode of the Thoughts and Money Podcast (TOM), host Trevor Cummings sits with Brett Bonecutter, author of the Thoughts and Money blog, to discuss practical mortgage insights. Brett shares five essential 'mortgage hacks' for navigating home loans and refinancing. The hacks include choosing the right lender, understanding rate quotes, and being cautious of flashy promotions. Brett emphasizes the importance of using a knowledgeable broker, exploring rate tables, and being aware of FICO score variations. This episode is designed to help listeners make informed decisions when buying a home or refinancing, and provides valuable tips for advising younger family members entering the market.

00:00 Welcome to the Thoughts and Money Podcast

00:47 Brett's Background and Midwest Roots

01:29 Real Estate and Interest Rates Overview

04:20 Trevor's Mortgage Mistake

07:07 Choosing the Right Mortgage Provider

09:02 The Role of Brokers in Mortgage Lending

16:56 Beware of Online Rate Quotes

19:31 The Need for Patience in Financial Decisions

19:53 The Impact of Instant Gratification on Society

20:58 Book Recommendation: Amusing Ourselves to Death

21:49 Guiding the Next Generation in Home Buying

22:38 The Shift Towards Analog Living

23:29 Understanding Mortgage Rates and Risk Buckets

36:40 The Importance of Knowing Your Credit Score

39:22 Final Thoughts and Practical Advice

Links mentioned in this episode:

• http://thoughtsonmoney.com
• http://thebahnsengroup.com

This week's blogpost -

In this episode of the Thoughts and Money Podcast, hosted by Trevor Cummings, financial experts Blaine Carver and Brett Bonecutter delve into the recent performance of small cap stocks, specifically highlighting a 14-day streak of outperformance compared to large cap stocks. They discuss the difference between small cap and large cap stocks, the impact of interest rates on small companies, and the historical performance of small caps. Using analogies and practical examples, the hosts explain key concepts like market capitalization, risk and reward, and the importance of diversification. The episode underscores the necessity of a well-thought-out investment philosophy, anchored expectations, and the practical application of financial strategies.

00:00 Welcome to the Thoughts and Money Podcast

00:35 Introduction to Small Cap Stocks

01:53 Sweetwater: A Hypothetical Town

03:51 Investment Strategies and Risk

06:26 The Size Premium and Market Trends

15:48 Behavioral Finance and Long-Term Investing

21:58 Active Management in Small Cap Investments

22:51 Tailoring Investment Strategies to Individuals

23:51 The Importance of Diversification

24:04 Understanding Risk and Returns

25:25 Illiquidity Premium and Expected Returns

29:56 Private Equity and Leverage

34:56 Small Caps and Market Cycles

36:31 Building a Balanced Portfolio

42:01 Setting Realistic Investment Expectations

43:46 Final Thoughts and Listener Engagement

Links mentioned in this episode:

• http://thoughtsonmoney.com
• http://thebahnsengroup.com

This week's blogpost - https://bahnsen.co/49AK0NH

In this episode of the Thoughts On Money Podcast, host Trevor Cummings, along with guests Blaine Carver and Brett Bonecutter, delve into the intricacies of making financial decisions. They explore the importance of challenging assumptions, understanding biases, and considering second-order effects when making seemingly simple financial choices, such as funding a 401k plan. The episode emphasizes the benefits of consulting financial advisors to navigate complex financial landscapes and highlights the need for a holistic approach to financial planning.

00:00 Welcome to the Thoughts On Money Podcast

00:03 Introducing the Hosts and Special Guests

00:46 The Nuances of Financial Decisions

01:27 Challenging Simple Financial Assumptions

01:44 Psychological Insights into Financial Decisions

03:09 The Role of Assumptions in Financial Planning

08:08 Behavioral Economics and Financial Decision-Making

09:59 The Impact of Inheritance on Financial Behavior

14:09 The Importance of Second Order Effects

19:10 Understanding Tax Implications in Retirement

20:00 The Fork in the Road: Financial Planning Decisions

20:28 401k vs. Taxable Investment Accounts

22:27 Tax Diversification Strategies

25:25 The Complexity of Financial Advice

30:26 The Importance of a Financial Team

37:07 Final Thoughts and Listener Engagement

Links mentioned in this episode:

• http://thoughtsonmoney.com
• http://thebahnsengroup.com

This week's blogpost - https://bahnsen.co/4szAiUr

Decoding 'The Fourth Turning': Understanding Generational Cycles and Their Impact on Investment Philosophy

In this episode of the 'Thoughts on Money' Podcast, hosted by Trevor Cummings and featuring guest Brett Bonecutter, the duo delves into the book 'The Fourth Turning: An American Prophecy' by William Strauss and Neil Howe. They explore its generational theories and cyclical view of history, which posits that every 80-100 years, society undergoes a significant transformation. By breaking down the book’s framework and its predicted

00:00 Introduction and Host Welcome

00:18 Guest Introduction: Brett Bonecutter

01:08 Book Review: The Fourth Turning

02:17 Understanding Worldviews and Narratives

07:40 Historical Philosophies and Investment Implications

14:41 Generational Cycles and The Fourth Turning

18:10 Current Generations and Crisis Predictions

24:04 Exploring Fascinating Quotes

25:28 The Fourth Turning Predictions

26:45 Reflecting on Y2K and Similar Events

29:15 Philosophical Worldviews and Fear

33:53 Investment Strategies and Human Nature

39:46 Concluding Thoughts and Future Outlook

Links mentioned in this episode:

• http://thoughtsonmoney.com
• http://thebahnsengroup.com

This week's blogpost - https://bahnsen.co/48ZUDcG

The Importance of Embracing Boredom

In this episode of the Thoughts and Money Podcast, host Trevor Cummings and guest Blaine Carver discuss the insights from Blaine's recent blog article titled 'You Need to Be Bored.' They explore how constant stimulation from technology can detract from addressing meaningful, big-picture financial questions, and how creating moments of boredom can lead to better financial decisions. The conversation also covers the pitfalls of making impulsive investment decisions and highlights the importance of having a structured financial plan. Additionally, they touch on the need for prioritizing high-importance and high-urgency financial tasks over less impactful activities. The hosts share their personal experiences with managing boredom and financial stress, emphasizing the value of focusing on long-term planning. They also reflect on how market distractions can lead to suboptimal investment behaviors and the cultural difficulty of being bored in today's fast-paced, tech-driven world.

00:00 Welcome to the Thoughts and Money Podcast

00:16 The Importance of Boredom

00:57 Arthur Brooks' Influence

02:39 Cultural Challenges with Boredom

03:34 Investment Behavior and Boredom

04:35 The Impact of Technology on Investing

05:23 The Role of Boredom in Creativity

06:51 The Psychology of Investing

10:54 The Value of Long-Term Investment Strategies

18:27 Micro vs. Macro Financial Planning

19:28 Prioritizing Financial Decisions

21:06 The Importance of Addressing Major Financial Issues

24:00 Balancing Urgency and Importance

25:52 Creating a Comprehensive Financial Plan

29:11 The Role of Boredom in Financial Planning

33:08 Avoiding Financial Distractions

39:03 Final Thoughts and Holiday Wishes

Links mentioned in this episode:

• http://thoughtsonmoney.com
• http://thebahnsengroup.com

This week's blogpost - https://bahnsen.co/3XPJNko

Finding Wisdom in the Age of Artificial Intelligence: Navigating Investing, Emotions, and Technology

In this episode of the Thoughts and Money Podcast, host Trevor Cummings and co-host Blaine Carver delve into the implications of artificial intelligence on the stock market and broader economy. Cummings, who authored a blog post titled 'Looking for Wisdom in a World of Artificial Intelligence,' discusses the importance of emotional intelligence (EQ) over IQ in investing, sharing insights on avoiding emotionally driven bad decisions. The discussion covers the risks and rewards of contrarian investing, emphasizing that being right is crucial, and the importance of wisdom and experience in financial planning. The episode concludes by exploring how AI can enhance, but not replace, the essential human element in financial advising and decision-making.

00:00 Introduction to the Thoughts and Money Podcast

00:17 The Rise of Artificial Intelligence in 2025

02:49 The Importance of Temperament in Investing

12:12 Contrarian Investing: Being Right Matters

20:12 The Both-And Philosophy at The Bahnsen Group

22:03 Embracing Technology with Timeless Wisdom

28:31 Conclusion and Listener Engagement

Links mentioned in this episode:

• http://thoughtsonmoney.com
• http://thebahnsengroup.com