Simply Money presented by Allworth Financial

In this episode of Simply Money, hosts Bob Sponseller and Brian James warn listeners against common investor mistakes during periods of market volatility, particularly the urge to chase headlines, time sectors, or react emotionally to daily market swings. They emphasize that by the time investors react to news, the market has already priced it in, and missing just a few of the best market days can severely hurt long-term returns. The hosts advocate for disciplined, long-term investing and stress the importance of having a written financial plan that includes rebalancing, tax-loss harvesting, and avoiding emotional decisions. They also highlight the hidden tax consequences of impulsive trading, including capital gains, wash sale rules, and state and investment income taxes. Later, the discussion shifts to retirement planning, focusing on the 'retirement red zone'—the first 10 years of retirement—where poor spending habits and sequence of returns risk can deplete savings quickly. The hosts recommend proactive cash flow planning, strategic account withdrawals, and Roth conversions to manage taxes. Finally, they urge listeners to freeze their credit and their family’s credit as a simple, free, and powerful way to prevent identity theft.