Everything Money

Military Divorce with Kate Reese

In this episode, Leah Jones, Director of Financial Planning for Hightower Bethesda, speaks with Kate Reese about military divorce, addressing anyone who is considering or going through a divorce that includes someone who is or has been a member of the military. They discuss things to consider such as the documents and resources you’ll need to collect and how to approach the division of assets.

 

“You just pick your battles. Run the numbers and see what the numbers look like… It’s just a choice that you have to make. Just need to be informed and it’s got to have the tax component considered.” -Kate Reese [28:59]

 

What You Will Learn:

• [00:39] Meet Kate
• [02:36] Who the podcast refers to in regards to military divorce
• [05:21] Documents and resources needed to collect
• [08:53] Military pension benefits and other income considerations
• [15:59] Ways to think about dividing assets
• [23:35] Steps to finalize everything
• [26:11] Other things to know and consider
• [31:53] How to contact Kate

 

Our Contacts:

Website: bethesda.hightoweradvisors.com

LinkedIn: Hightower Bethesda

Facebook: HightowerBethesda

Twitter: @LeahPlans4You

 

Guest’s Contacts:

Website: reeselawoffice.com

Phone number: (703) 279-5140

Email: kate@reese.law

Mid-year check in with Mike Zoller

In this episode, Leah Jones, Director of Financial Planning for Hightower Bethesda, speaks with Mike Zoller, Senior Investment Analysis for Hightower Bethesda. Mike and Leah conduct a mid-year check in, focusing on higher economic data and provide an update on the COVID-19 pandemic, both domestically and internationally. They talk about broad macro indicators, the U.S. stimulus and international markets, and they also address the topic of inflation.

 

“One thing I really want to emphasize is that the recovery we’re having today is not the 2009 recovery.” -Mike Zoller [09:46]

 

What You Will Learn:

• [01:04] An update on the COVID-19 pandemic
• [04:22] What broad macro indicators are telling us
• [07:28] How the American consumer is doing
• [12:30] Inflation risks and Hightower’s outlook on inflation
• [19:35] How the U.S. stimulus will play out in the future
• [22:52] How international markets are and will be affected by the pandemic

 

Our Contacts:

Website: bethesda.hightoweradvisors.com

LinkedIn: Hightower Bethesda

Facebook: HightowerBethesda

Twitter: @LeahPlans4You

Understanding Maryland 529 with Michelle Winner

In this episode, Leah Jones, Director of Financial Planning for Hightower Bethesda, talks to Michelle Winner, Director of Marketing for Maryland 529 plan, about using a 529 plan as a savings and investment plan for college costs specific to Maryland. They answer commonly asked questions about these types of plans.

 

“Adults can use the plan too. For example, maybe your child doesn’t need the money, but perhaps you want to go back to school. You could use the funds yourself to pay for your education expenses. So just something to think about too for those who are looking to maybe pursue a new career or a new trade.” -Michelle Winner [23:51]

 

What You Will Learn:

• [01:32] What is a 529 plan
• [02:08] The advantages of opening a 529 account vs a traditional savings account
• [05:30] Two different types of Maryland 529 plans
• [08:41] How to contact Maryland 529
• [09:23] What happens if the child choose an out-of-state school
• [14:23] What is a qualified higher education expense
• [18:44] If the funds can be used for anything other than college
• [23:37] Adults can use the Maryland 529 plan too
• [25:12] How 529 funds affects FAFSA
• [32:21] Options if the child doesn’t go to college
• [33:02] Contribution guidelines

 

Our Contacts:

Website: bethesda.hightoweradvisors.com

LinkedIn: Hightower Bethesda

Facebook: HightowerBethesda

Twitter: @LeahPlans4You

 

Guest’s Contacts:

Phone number: 888.4MD.GRAD

Financial Implications During A Divorce When the Woman is the Primary Bread Winner with Heather Hostetter

Meet Heather Hostetter, she is a family law attorney located in Bethesda Maryland with a long list of awards and a partner at Hostetter Strent. This is a domestic relations law that deals with divorce, property distribution, alimony, custody, and child support.

In this episode, Leah speaks with Heather about the process of property distribution during a divorce primarily with alimony and child support when the woman is the main breadwinner.

Listen in to learn the difference between alimony and child support and why they both exist. You will also learn why as a woman; you need to think hard before entering a legal marriage and what to consider before and during the marriage in terms of finances and support.

What you will learn:

• [2:28] The factors that come into play before the court awards alimony during a divorce and the types that exist.
• [6:29] She explains why it’s difficult for the fault to play part in alimony.
• [8:32] The factors that determine how the length of the marriage affects the alimony.
• [9:46] The difference between paying alimony and child support and how women breadwinners react to it.
• [20:58] She explains the legal consequences of an ending marriage and understanding them beforehand.
• [23:35] The alimony negotiations process and what the court has the power to do and not do.
• [26:04] How both women and men react to the issue of alimony during a divorce.
• [29:22] How child support is calculated and its relationship to alimony.
• [32:29] She explains how the child support money is divided to make sure it caters to children.
• [35:27] The importance of having a conversation before and during a marriage about the roles of both partners.
• [38:52] The purpose of thinking hard as a woman before getting married and understanding the consequences and whether you can live with them.

Our Contacts:

Website: http://bethesda.hightoweradvisors.com/

LinkedIn: https://www.linkedin.com/company/hightowerbethesda/

Facebook: https://www.facebook.com/HightowerBethesda/

Twitter: https://twitter.com/HighTowerBethsd

Cryptocurrency with Michael Sonnenshein

In this episode, Leah Jones, Director of Financial Planning for Hightower Bethesda, talks to Michael Sonnenshein, CEO of Grayscale Investments, the world largest digital currency asset manager. Michael oversees the strategic director and growth of the business and maintains relationships with key stakeholders. Michael talks about cryptocurrency, what it is, why it’s a polarizing topic and the rationale for owning it. He explains the differences between cryptocurrencies and how it can fit into someone’s portfolio. He also discusses how a company like Grayscale does due diligence on cryptocurrencies and how transparency and compliance come into play.

 

“There is very much a real world scenario where these exist side by side, both decentralized digital currencies, like BitCoin, along with a centralized digital currency like the US dollar.” -Michael Sonnenshein [23:45]

 

What You Will Learn:

 

• [02:09] What is cryptocurrency
• [04:54] Differences between the cryptocurrencies
• [06:43] How does someone evaluate a cryptocurrency
• [09:59] The lack of barriers to entry for cryptocurrency
• [16:08] How this could be implemented in the future
• [20:12] How companies can accept cryptocurrency
• [24:01] How Grayscale identify, evaluate and keep up with products
• [26:14] Transparency, compliance and taxes
• [30:19] Michael’s thoughts on Elon Musk and the media

 

Our Contacts:

Website: bethesda.hightoweradvisors.com

LinkedIn: Hightower Bethesda

Facebook: HightowerBethesda

Twitter: @LeahPlans4You

 

Guest’s Contacts:

LinkedIn: Michael Sonnenshein

Twitter: @Sonnenshein

An introduction to hedge funds with Jeff Vale

In this episode, Leah Jones, Director of Financial Planning for Hightower Bethesda, talks to Jeff Vale, founding partner and chief investment officer at Infinity Capital Partners. They provide an introduction to hedge funds, what they are and how they can be incorporated into an investor’s portfolio. They also discuss the media’s portrayal of hedge funds.

 

“Hedge funds are actually a good thing if they’re run correctly. Due diligence is key. You definitely have to do your work and find the very top managers.” -Jeff Vale [36:06]

 

What You Will Learn:

 

• [01:12] Hedge funds 101: the basics
• [07:04] Criteria to meet from an income or asset perspective
• [09:11] Long and short positions and hedge fund fees
• [15:08] How hedge funds did in 2020
• [19:40] What is illiquidity
• [22:45] What happened with GameStop
• [29:34] What happened with Archegos Capital

 

Our Contacts:

Website: bethesda.hightoweradvisors.com

LinkedIn: Hightower Bethesda

Facebook: HightowerBethesda

Twitter: @LeahPlans4You

 

Guest’s Contacts:

Website: infinityfunds.com

LinkedIn: Jeff Vale

30 Years as an Entrepreneur in Non-Profit Video Production with Robin Smith

In this episode, Leah Jones, Director of Financial Planning for Hightower Bethesda, talks to Robin Smith, founder and president of Video/Action, a non-profit dedicated to providing voices for the underserved and voiceless. Robin talks about why she started Video/Action when she was 40 years old. She shares her story, the lessons she’s learned along the way during her 30 years in business and her second act in impact producing.

 

“Another gift that you need to give yourself if you’re an entrepreneur is to know what are those things that you really are good at. And if it’s not something you’re good at, try to find somebody who can do it for you and bring that person in.” -Robin Smith [11:32]

 

What You Will Learn:

 

• [00:46] How Robin started Video/Action
• [04:54] How she transitioned from private sector to non-profit
• [10:37] What she’s learned along the way
• [19:43] Advice she’d give to aspiring entrepreneurs
• [23:17] Robin’s second act

 

Our Contacts:

Website: bethesda.hightoweradvisors.com

LinkedIn: Hightower Bethesda

Facebook: HightowerBethesda

Twitter: @LeahPlans4You

 

Guest’s Contacts:

Website: videoaction.org

LinkedIn: Robin Smith

The use of alternatives with Stephen Rosen

In this episode, Leah Jones, Director of Financial Planning for Hightower Bethesda, talks to Stephen Rosen, Managing Director and Partner at Hightower Bethesda. Stephen provides perspective on the use of alternatives which he refers to as the “third leg of the stool” in addition to equity and bonds. Listen as he shares what people need to know when investing in alternatives.

 

“Patience is a virtue. And sometimes people are reluctant to be patient. Sometimes people are reluctant to maybe hold cash or have a liquid alternative. Looking for the right thing, you don’t always have to jump in with both feet.” -Stephen Rosen [12:01]

 

What You Will Learn:

• [00:44] The use of alternatives
• [03:37] What does alternatives mean
• [07:10] The dilemma of finding return asset allocation
• [11:45] How this affects Hightower Bethesda
• [14:54] Ways to generate income through alternatives
• [22:55] Hightower Bethesda’s view on alternatives
• [30:13] What to know in investing in alternatives

Our Contacts:

Website: http://bethesda.hightoweradvisors.com/

LinkedIn: https://www.linkedin.com/company/hightowerbethesda/

Facebook: https://www.facebook.com/HightowerBethesda/

Twitter: https://twitter.com/LeahPlans4You

 

Resources:

Visit our website: https://bethesda.hightoweradvisors.com

Is Amicable Divorce Possible w/ Regina DeMeoDivorce

In this episode, Leah Jones, Director of Financial Planning for Hightower Bethesda, talks to Regina DeMeo, a family law attorney. Regina has worked with family law issues for 22 years, serving her clients to make divorce easier and more cost-effective as they work towards a resolution. She shares what an amicable divorce looks like and the difference between mediation and a collaborative approach. She also discusses how the COVID-19 pandemic has affected the process.

 

“If you can’t sit in that meeting and sort of have a clear mind, you shouldn’t be making legal decisions that are going to impact the rest of your life or the rest of your kids’ lives. Someone’s really got to be in a good emotional place and have a pretty good understanding of the issues that we’re about to discuss.” -Regina DeMeo [12:11]

 

What You Will Learn:

 

• [00:55] If it possible to have an amicable divorce
• [01:38] What does an amicable divorce looks like
• [05:17] Mediation vs collaborative approach
• [13:26] The difference in costs
• [18:26] How the COVID-19 pandemic affects divorce process
• [22:25] Why you should look at divorce as an investment and preversing good will

Our Contacts:

Website: http://bethesda.hightoweradvisors.com/

LinkedIn: https://www.linkedin.com/company/hightowerbethesda/

Facebook: https://www.facebook.com/HightowerBethesda/

Twitter: https://twitter.com/LeahPlans4You

 

Resources:

 

Visit our website: https://bethesda.hightoweradvisors.com

Visit Regina DeMeo’s website: https://www.reginademeo.com/

Current Tax Code Changes and Opportunities for Tax Planning w/ Louis Ruebelmann

In this episode, Leah Jones, Director of Financial Planning for Hightower Bethesda, talks to Louis Ruebelmann, a CPA and CFF at Mendelson & Mendelson about recent and upcoming tax changes and opportunities to help with tax planning. Louis has worked with individuals and businesses in tax planning since the 1970s. He shares guidance in regards to the Paycheck Protection Program (PPP) loan and the stimulus checks that provided financial relief during the COVID-19 pandemic. He also discusses the changes with the charitable contribution allowance and education deductions and credits.

 

“That payroll number is absolutely key. It must be 60%.” -Louis Ruebelmann [02:55]

 

What You Will Learn:

 

• [00:47] Louis’ guidance on the Paycheck Protection Program (PPP) loan
• [03:51] How the loan forgiveness work on a tax perspective
• [06:50] How a business owner can take a second PPP loan in 2021
• [09:38] The shift in deducting meals in 2021 and 2022
• [13:29] Things for business owners to know or think about for upcoming tax opportunities
• [15:16] What individuals should know about stimulus checks
• [18:38] The changes in the charitable contribution allowance
• [23:31] How taxes play into retirement account withdrawals for COVID-19 relief
• [26:32] The changes to education deductions and credits

Our Contacts:

Website: http://bethesda.hightoweradvisors.com/

LinkedIn: https://www.linkedin.com/company/hightowerbethesda/

Facebook: https://www.facebook.com/HightowerBethesda/

Twitter: https://twitter.com/LeahPlans4You

 

Resources:

 

Visit our website: https://bethesda.hightoweradvisors.com

 

Visit Mendelson & Mendelson website: http://www.mendelsoncpa.com/