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Talking Real Money - Investing Talk

Modern Money Myths Meet Their Match

Talking Real Money - Investing Talk

Don McDonald

Investing, Education, Business, How To

4.5810 Ratings

🗓️ 1 May 2025

⏱️ 31 minutes

🧾️ Download transcript

Summary

On this myth-busting episode of Talking Real Money, Don and Tom tackle persistent financial fables that sound logical but often lead investors astray. With help from a Kiplinger list and their own experience, they dissect myths around mortgage payoff returns, Roth conversions, Social Security fears, withdrawal rules, and tax refunds—plus three bonus myths that still haunt conversations today. Along the way, Don shares his own recent experience filing for Social Security online (spoiler: ...

Transcript

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0:00.0

Reality Radio for a really great future.

0:08.0

We're talking real money.

0:10.5

Hello, everybody, and welcome to another exciting edition of Talking Real Money,

0:15.2

where we bust financial myths faster than Zeus tossing a lightning bolt.

0:22.9

I think something a little more recent in terms of analogy.

0:26.3

Well, because we're talking about myths.

0:28.2

You see, like, you know, Greek and Roman mythology.

0:30.8

Okay, that works.

0:31.6

Okay.

0:31.8

The world of investing is like, has got all these stories that have been passed down, these myths.

0:38.5

I thought it would be something more like sooner than Tom tells another bad joke or something.

0:42.4

I tried to beat you to the bad joke punch with a stupid illusion.

0:47.9

That was good.

0:49.4

But, you know, these myths are stories that are rarely rooted in reality.

0:56.1

They're sort of loosely connected, really rooted in reality.

1:00.9

And get this, you ready?

1:02.6

Yeah.

1:03.9

Financial fables, though, they're not, they're harmful.

1:08.1

They can actually cost you money.

1:10.5

So that's why when I saw this article from our

1:15.3

friends at Kiplinger about five money myths, I thought this is something we need to talk about

1:22.5

because we need to be like the show on reality television, whatever network it was on financial or, oh, better illiterate, illiterate, literate.

...

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