Your Money with David Hays

Catch Your Money Thursdays at 6pm and Saturday mornings at 9

It's a step in the (potentially) right direction. This week the House passed legislation to make daylight saving-time permeant. What does that mean for Hoosiers, and the rest of the country? David will share thoughts on the impact - and upcoming conversations with state elected officials.  Also, is the Australian system of retirement something the US should consider? David will discuss how Australia's retirement program works, and why it may be something to consider as Social Security continues to be challenged for Americans - especially those not yet retired.  Plus - are your beneficiaries in good order? Have you looked at your income and tax situation? David will dive into the different ways people look at financial planning, and why it's important to see the big picture in things.  All this, plus Rod Holloway from CFCI with a market update.

Have you ever heard of the five-year rule, as it relates to Roth IRAs? This week David will discuss why Roth IRA owners need to pay attention to this rule when taking distributions and how converted funds relate to the guideline. June was Annuity Awareness Month, and there was some discussion on the investment product in the June 18th episode. This week David takes a deep dive into the various types of annuities and what potential investors should consider. Plus the new Trump accounts went live on July 4 - so what's happened since the first day? David will give the latest... but much more in the show this week! 

It was announced this week that the already-expected Social Security shortfall has crept up - now to late 2032. The Wall Street Journal reported this week that "unless Congress shores up the retirement program, the depletion of reserves would trigger a 22% reduction in benefits in late 2032." David will be discussing what this means for retirees and future retirees and what Congress needs to do to fix the situation.  Also this week - as the Great Wealth Transfer begins (with Baby Boomers passing along their assets to children and grandchildren), many families are starting the gifting process ahead of schedule. David will discuss gift taxes and how to to properly manage the process.  Plus - last week's jobs reported the economy added 172,000 jobs in May - more than double what economists had expected. What does that mean for the "big picture?" 

At the end of March, the US national debt hit a new milestone - exceeding 100% of GDP (gross domestic product). This week David will take a look at what that means to the average American, as well as compare interest on our debt against national spending on defense. Plus, could this mean higher taxes? David will share details from his Ed Slott Elite IRA Advisor conference last month.  Many people have heard about "The Great Wealth Transfer," as Baby Boomers pass along inheritances to their heirs. However, people are living longer and more Americans are spending money on different things in their later years. David will talk about how this may impact Gen X.  Also - have you reviewed your 2025 tax return? Are you doing tax preparing or tax planning - because there is a difference!