Can't Have Everything

Don tackles the dangerous myth of “safe” high-yield investments, calling out misleading financial advice around covered call funds and non-traded real estate deals. He takes calls on 529 plans vs. UTMA, long-term care insurance pitfalls, robo-advisors for special needs planning, and a shady pitch for a fixed-indexed annuity disguised as a fiduciary recommendation. He ends with a birthday shoutout and a reminder of why good advice matters.

0:04 Greed and the myth of “safe” investments

1:27 Human desire for more with less risk—prime for exploitation

3:02 The illusion of safety: high-yield savings vs. riskier “alternatives”

3:50 Covered call funds are not safe—Don’s own experience

4:42 Non-traded real estate and price illusion

5:22 Financial Flinch Reflex PSA

6:23 How to call the show and why listener questions matter

7:36 529 vs. UTMA for a newborn + Fidelity Zero Fund vs. FSKAX

10:44 529s can convert to Roth IRAs—huge benefit

11:15 Long-term care insurance: costs, limitations, and reality checks

13:57 Hybrid LTC policies: gimmicky, commission-driven

16:34 Premium examples: $5K to $10K/year for minimal coverage

17:53 Funding a disabled daughter’s future using Schwab Intelligent Portfolio

19:50 Dollar-cost averaging lump sums? Don says no—invest now

21:12 Don on vacation guilt and cheap travel habits

22:24 529s owned by a trust—yes, and Utah’s My529 gets Don’s stamp

24:25 More trust pros and Utah’s fee/vehicle advantages

25:42 Listener wary of FIA pitch for TSP rollover—Don smells fraud

27:48 The match, the cap, the “no annuity” claim—Don calls B.S.

29:24 How to verify if someone’s actually a fiduciary

32:43 Why fixed-indexed annuities dodged SEC regulation

34:05 The real reason they’re pushing 70% of your money into an FIA

36:00 Listener calls just to wish Don happy birthday

37:32 Don thanks his audience and reflects on why he keeps doing this
Learn more about your ad choices. Visit megaphone.fm/adchoices