PharmD Money Derek Delaney

Welcome in to the 105th episode of the PharmD Money Podcast.

On todays episode, we take a look at the upcoming 2024 election. The White House, Senate, and House of Representatives are up for grabs.

Who wins what is anyone's guess at this point. However, that doesn't mean you shouldn't be planning for each possible outcome. Especially when it comes to your tax planning.

Derek walks through what his prediction for the future of taxation will be depending on who wins in 2024. He looks at what might happen to future taxes if Republicans sweep, if Democrats sweep, or if a mixed government happens.

Enjoy the show!

What is a trust? Do you need a trust? Is a trust the end all, be all of estate planning? There are a lot of questions people have when it comes to their estate planning. Creating a trust is one of the most important.

In this podcast episode, Derek outlines what a trust is and the different types of trusts that can be created.

If you're interested in learning more about trusts and determining if one fits your needs, this episode is for you!

It's common advice to get a Will or a Trust created as part of your estate planning strategy. Often times, many people don't understand what happens when those type of documents "kick-in."

When it comes to your Will, you're heirs will most likely get to experience the probate process after you die.

So what is the probate process and how does it work?

In this podcast episode, Derek talks about the purpose of probate, the advantages and disadvantages, and what type of assets will be subject to probate when you die.

Enjoy the show!

Picking out a trusted individual or company to serve as a trustee is a key part of estate planning. However, the duties that fall onto the shoulders of the trustee can sometimes create a lot of stress and uncertainty.

Many times a trustee is a close family member or friend, and usually isn't as qualified to manage a trust as they otherwise should be. And that is no fault of the trustee. It can be a difficult role to step into.

In this podcast episode, Derek takes a deeper dive into helping explain what a Trustee is and the duties that are required. Hopefully this provides some helpful insight on a complicated topic.

Enjoy the show!

It can be very hard to pass-up on unsolicited advice online. Especially if it's coming from a source that has proven success. Afterall, if Tiger Woods started giving away free golf lessons online, I'd tune in!

But your money is different. Most "experts" are wrong more than their right with their predictions. Especially when it's investment related. 

In this podcast episode, Derek walks through one of the worst stretches of investment advice found online from a very recognizable name. Following this individual would have ruined any good investment portfolio.

Enjoy the show!

As a 20 year old who is just getting started with their career to a 55 year old who is reaching the pinnacle of theirs, it can be hard to figure out what comes next. Many use the benchmark of what they perceive others have done in their similar situation.

However, it can be terribly misleading in todays age of social media. This can lead many to believe they aren't accomplishing enough or are the only person in their peer group struggling. In this podcast episode, I want to lift that veil.

I'm going to shine a light on what I've found in my financial planning practice working with individuals in each decade. I talk what I've seen as the most common lifestyle and wealth structure of individuals in their 20s, 30s, 40s, 50s, & 60+.

Enjoy the show!