Tall Oaks Podcast

Your Budget Probably Isn't Working Because You're Doing It Wrong

Most people avoid two simple documents their entire financial life — and it's costing them more money than they realize. If you've ever felt like managing your personal finance is more complicated than it should be, you're not alone. The problem usually isn't complexity — it's a lack of clarity. In this episode, Branden  Du Charme and Carisa Bertrand break down the two foundational tools that turn financial confusion into a clean, organized money management system: a net worth statement and a cash flow statement. No software required, no complicated formulas — just honest answers to the two questions most people never sit down to answer: What do I own, and what do I owe? Here's the trap most people fall into with their personal finances: they assume small accounts don't matter, that real estate wealth means financial security, and that budgeting works the same way for everyone. It doesn't — and the gap between what people think their money situation looks like and what it actually looks like is where most wealth management mistakes are made. What we cover in this episode: •Net worth statement basics — assets, liabilities, and the math that creates instant money clarity •What to include, what to simplify, and why "small" accounts can have big tax and estate planning consequences •How a net worth statement protects a spouse or partner in a financial emergency •The asset-rich, cash-poor trap — especially common for real estate owners building wealth •Cash flow statement fundamentals — personal finance simplified to income minus expenses •Rigid budgeting vs. reverse budgeting — which money management approach fits your life •Why taxes and planned savings are the most commonly missed line items in any budget •Setting a real retirement planning spending target and avoiding the mistake of working longer than you need to •Using both statements together to manage wealth, plan withdrawals, and reduce financial stress •Long-term tax opportunities hiding in your numbers — Roth conversions and RMD planning for retirement Whether you're just starting to build wealth, planning for retirement, or trying to get a clear picture of your money for the first time, this episode gives you the foundation every solid financial plan starts with. Find Du Charme Wealth Management here: https://ducharmewealth.com Phone:  (435) 288-3396 DISCLAIMER: Information presented on this program is believed to be factual and up-to-date, but we do not guarantee its accuracy, and it should not be regarded as a complete analysis of the subjects discussed. Discussions and answers to questions do not involve the rendering of personalized investment advice, but are limited to the dissemination of general information. A professional advisor should be consulted before implementing any of the options presented. Encompass More Asset Management LLC is a registered investment adviser with the U.S. Securities and Exchange Commission (SEC) and only transacts business in states where it is properly registered, or is excluded or exempted from registration requirements. 0:00 Net Worth Statement In Plain English 5:20 What To Include And What To Skip 9:51 Organization That Protects Your Family 12:36 Cash Flow Explained Without Fancy Tools 19:40 Budgeting Versus Reverse Budget Reality 22:35 Retirement Targets And Real World Tradeoffs 30:54 Taxes, Roth Moves, And Keeping It Simple

The Social Security Claiming Mistake Almost Every Retiree Makes

Should you claim Social Security at 62, 67, or 70? That single decision can change your lifetime retirement income by $500,000 or more—and it's permanent. In this episode, Branden sits down with Steve Durdin, a New Jersey financial planner and Social Security expert, to break down exactly how to make this choice. With 11,000 Americans turning 65 every day, most people are claiming too early and leaving hundreds of thousands of dollars on the table. We explain the three claiming ages—62 (early with permanent reduction), 67 (full retirement age), and 70 (maximum delayed credits)—and show you how to calculate which one makes sense for YOUR situation, including: ✅ How your highest 35 earning years determine your benefit ✅ Why claiming at 62 reduces your check by ~30% permanently ✅ How delayed retirement credits boost benefits 8% per year after 67 ✅ Spousal benefits (50% of PIA cap) and why timing matters for couples ✅ Survivor benefits—why the higher earner's decision protects the surviving spouse ✅ Divorced spouse rules (10-year marriage requirement) ✅ Social Security taxation traps that catch even wealthy retirees ✅ Why you need to set up your SSA.gov account TODAY Find Harvest Well Financial Partners here: https://www.stevedurdin.com/ sdurdin@harvestwellfp.com Find Du Charme Wealth Management here: https://ducharmewealth.com Phone:  (435) 288-3396 DISCLAIMER: Information presented on this program is believed to be factual and up-to-date, but we do not guarantee its accuracy, and it should not be regarded as a complete analysis of the subjects discussed. Discussions and answers to questions do not involve the rendering of personalized investment advice, but are limited to the dissemination of general information. A professional advisor should be consulted before implementing any of the options presented. Encompass More Asset Management LLC is a registered investment adviser with the U.S. Securities and Exchange Commission (SEC) and only transacts business in states where it is properly registered, or is excluded or exempted from registration requirements. 0:00 Claiming Ages And Program Pressure 3:06 Insolvency Myths And Trust Fund Math 10:04 Key Terms FRA PIA Earnings Record 14:28 Spousal Benefits And Timing Rules 24:07 Survivor Benefits And The Delay Advantage 30:18 Divorced Spouse Rules And Deemed Filing 35:53 Social Security Taxes And Planning Traps 42:17 Finding Help And Final Takeaways

Paying Off Your Mortgage Early: The Part Nobody Tells You

Should you pay off your mortgage early or invest the extra cash? The answer isn't as simple as the math suggests — and making the wrong call can quietly cost you flexibility when life gets complicated. In this episode, we answer real audience questions on the real estate decisions that sound straightforward but get complex fast once taxes, risk, and liquidity enter the picture. What we cover: •Pay off mortgage vs. invest — why after-tax returns change the break-even math •Optionality and liquidity — why extra principal payments are harder to undo than people realize •Mortgage recasting as a way to lower required payments while keeping flexibility •Using a HELOC or cash-out refi to buy structured notes — and the hidden risks behind the yield •Why a paid-off home doesn't mean zero monthly payment (property taxes, insurance, escrow) •Why using home equity as a retirement income tool can backfire through cash flow and tax exposure •Rent vs. buy in a higher-rate environment — how to "pay yourself" the spread •Setting a hurdle rate using the risk-free rate plus a real market risk premium •Modeling rental ROI with NOI — including capex budgeting, vacancy, and collection losses •How real estate cash flow and appreciation stack up against stocks, bonds, REITs, and other alternatives The through line: manage downside risk first, set a realistic hurdle rate, and let the upside take care of itself over time. 📌 If this helped you, subscribe so you don't miss future Q&A episodes. 💬 Drop your real estate question below — we read every one. 📤 Share this with a friend wrestling with a mortgage or rental decision. DISCLAIMER: Information presented on this program is believed to be factual and up-to-date, but we do not guarantee its accuracy, and it should not be regarded as a complete analysis of the subjects discussed. Discussions and answers to questions do not involve the rendering of personalized investment advice, but are limited to the dissemination of general information. A professional advisor should be consulted before implementing any of the options presented. Encompass More Asset Management LLC is a registered investment adviser with the U.S. Securities and Exchange Commission (SEC) and only transacts business in states where it is properly registered, or is excluded or exempted from registration requirements. [00:00:00] Can Leverage Get You Ahead [00:02:49] Pay Off The Mortgage Or Invest [00:08:35] Structured Notes Using Home Equity [00:15:01] Property Taxes And Insurance Reality [00:23:20] Renting Versus Buying Without FOMO [00:27:58] Other People's Money Equals Leverage [00:32:42] Setting Return Targets And Hurdle Rates [00:39:00] Modeling NOI Capex Vacancy And Taxes [00:50:18] Manage Downside Risk And Wrap Up

You Don't Actually Understand Risk (And Why That's Dangerous) | Dr. Ron Picanini

Risk gets thrown around like it's a math term, but your life experiences it as a margin call. In this episode, we sit down with Ron Piccinini to rebuild the definition from the ground up: risk is the loss you can take and the collateral you'd need to survive the bad day. Once you see it that way, "more risk" stops meaning "more volatility" and starts meaning something you can actually manage with sizing, constraints, and a plan. We dig into tail risk, heavy tails, and why markets don't behave like a normal distribution. Ron explains the difference between true black swans and events that only look shocking because the model was underpowered. We also tackle the uncomfortable truth that a tiny number of days can drive the bulk of long-term stock market returns—which is why emotional exits near the lows can quietly ruin an otherwise solid investment plan. Then we move into portfolio diversification, correlation failures, and why the classic 60/40 can disappoint when regimes change. We connect the dots to global liquidity, central banks, and why assets that "should diversify" can fall together when financing conditions shift. The big takeaway: Build a robust risk management process that helps you stay invested through stress without pretending you can predict the exact day the storm hits. Find Ron here: https://altiumstrategies.com/ Find Du Charme Wealth Management here: https://ducharmewealth.com Phone:  (435) 288-3396 DISCLAIMER: Information presented on this program is believed to be factual and up-to-date, but we do not guarantee its accuracy, and it should not be regarded as a complete analysis of the subjects discussed. Discussions and answers to questions do not involve the rendering of personalized investment advice, but are limited to the dissemination of general information. A professional advisor should be consulted before implementing any of the options presented. Encompass More Asset Management LLC is a registered investment adviser with the U.S. Securities and Exchange Commission (SEC) and only transacts business in states where it is properly registered, or is excluded or exempted from registration requirements. [00:00:00] Rethinking Risk Beyond Volatility [00:09:09] From LTCM Blowup To Research [00:20:10] Tail Risk Meets Human Behavior [00:28:51] Why A Few Days Matter Most [00:36:21] Robust Systems And Volatility Regimes [00:40:36] Active Management And Real Benchmarks [00:52:02] When Correlations Break In Practice [01:06:13] Prudence, Process, And The House Edge [01:16:41] How To Reach Ron And Wrap

Does Your Rental Deal Actually Pencil? (We Run The Real Numbers)

A rental property can feel safer than the stock market because you can touch it, but the math doesn't care how tangible it feels. In this episode, we walk through a real rental deal in St. George, Utah and ask the only question that matters: does the deal pencil? We run a full analysis model including vacancy, property management, capex reserves, taxes, insurance, and transaction costs—showing how a property can look "fine" on the surface and still deliver weak cash flow and negative NPV. We explain why if there's no room for a property manager, you're not buying an investment, you're buying a job. Then we zoom out to the big drivers most people ignore: interest rates, discount rates, opportunity cost, and why cap rates matter when prices detach from what rents can support. We tackle the common pushback—"but home prices always rise"—and break down why appreciation can only decouple so far from fundamentals, especially when affordability is stretched and rents soften. We finish with nuance: real estate CAN work as a tail hedge in extreme inflation scenarios when you use leverage, but that's not a great primary plan for most households. We also introduce our favorite filter: return on hassle—because an extra percent isn't worth it if the liability, time, and tax complexity take over your life. KEY TOPICS: Recency bias in real estate  Full deal setup walkthrough  Vacancy & property management costs  Capex reserves & turnover  Discount rate & NPV analysis  Cap rate reality check  Interest rates & affordability constraints Real estate as leverage hedge  Liquidity risk & return on hassle Find Du Charme Wealth Management here: https://ducharmewealth.com Phone:  (435) 288-3396 DISCLAIMER: Information presented on this program is believed to be factual and up-to-date, but we do not guarantee its accuracy, and it should not be regarded as a complete analysis of the subjects discussed. Discussions and answers to questions do not involve the rendering of personalized investment advice, but are limited to the dissemination of general information. A professional advisor should be consulted before implementing any of the options presented. Encompass More Asset Management LLC is a registered investment adviser with the U.S. Securities and Exchange Commission (SEC) and only transacts business in states where it is properly registered, or is excluded or exempted from registration requirements. [00:00:00] Welcome And Deal Mindset [00:06:35] Deal Setup And Financing Assumptions [00:17:53] Discount Rate NPV And Cap Rate [00:23:42] Appreciation Limits And Having An Edge [00:30:39] Why Higher Rates Change Everything [00:47:10] Liquidity Shocks And Tenant Risk [00:56:20] Return On Hassle And Getting Advice [01:02:10] Recap And Listener Questions