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Fast and Finance

Patrick McCrindle

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Welcome to Fast and Finance! This podcast is designed for everyday, normal people just looking to improve their personal wealth management and expand their knowledge on the markets. We'll cover all the basic concepts so you have a strong base knowledge before we dive into anything more specific. Wealth management is a concept that is overlooked in many school systems, and we're here to change that! Please send us your questions to: patrick.mccrindle@lpl.com - Securities offered through LPL F ...
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Brought to you by LPL Research: Last week was a pivotal one for markets, with the S&P 500 coming off a 3% weekly decline the week before. In terms of economic data, we got our first look at first quarter gross domestic product (GDP) as well as the March reading of the Federal Reserve’s (Fed) favorite inflation measure — the core PCE deflator. If th…
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I want to take this episode to talk about one of my favorite concepts when it comes to investing – and I'm sure you’ve heard me say it before – and I’ll say it again, we cannot time the market. A french mathematician named Louise Bachelier first coined the random walk theory term – and he pretty much said that share price movement, or prices in the…
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A lot of kids don’t grasp the importance of money, and that makes sense. To them, it’s just paper, right? At least in my early education as a child, there was certainly not any financial literacy courses. I think some of our school systems are changing for the better now, and there are more financial literacy tools available now than ever; but as i…
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Brought to you by LPL Research through the Weekly Market Commentary. (Jeffrey Roach, Chief Economist and Jeffrey Buchbinder, Chief Equity Strategist.) When we wrote the annual outlook last November, the data was mixed. Some metrics hinted at emerging cracks in the economy while others suggested the growth trajectory in capital markets and the econo…
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If any of our listeners find themselves feeling “lost” in their finances, I think this episode should help. We all know that life can get really overwhelming at times, especially when it comes to finances. Job transitions, bank changes, ex-financial advisors, uncashed checks, unclaimed property... These things over time can certainly cause that “br…
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For regular listeners of Fast & Finance, you know that I talk about budgeting A LOT... some may even be sick of hearing about it by now, but it’s necessary! SO many people struggle with impulsive purchases today, and with how easy online shopping & checking out has gotten, there’s no wonder. However, there ARE some ways to help stop yourself from i…
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You spend decades of your life investing and accumulating your hard-earned money. Wouldn’t you want to ensure that your nest egg is built well enough to withstand certain inevitable risks within the market? Market risk, or systematic risk, is inherent to the entire market. Textbook definition is something like, a change or decrease in the value of …
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I’ve mentioned in previous episodes, financial advisors can be of great benefit to ANYONE – not just the high to ultra-high net worth individuals. There are plenty of transparent, honorable financial advisors out there without high account minimums. Now that we have that established and clear – For those who have financial advisors now or any sort …
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Brought to you by LPL Research - To say 2023 was challenging may be an understatement. While stocks had a surprisingly impressive year, there was no shortage of obstacles for investors to overcome, including historic interest rate volatility, recession risk, banking sector turmoil, and a game of monetary policy chicken played between the markets an…
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I wanted to take this episode to talk about something that goes unnoticed pretty often. There are so many people out there that just have poor relationships with their money. Not just spending problems, okay... but actual, poor relationships with their money. They don’t know how much they have, how much they’re spending, they don’t think twice abou…
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I wanted to dedicate an episode to individuals wondering when “the best” time to invest is. Some people may be worried that it’s too late due to age, or possibly the markets have been up for quite some time, and they’re worried they “missed the run.” Well, you guys have heard me say before... you can’t time the market. One of my favorite sayings re…
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As host of Fast & Finance, I’m super excited to announce a new series of guest episodes with a focus on local small businesses and their owners. I think we all know over the past few years; such a large number of small businesses took a hit from the pandemic. I mean, people who had just opened their doors, or opened during the pandemic – how did th…
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This week's episode is brought to you by LPL Research's Weekly Market Commentary: After a difficult September for stocks, investors are surely ready to flip the calendar to October. That’s the month that kicks off the historically strong fourth quarter. Expecting this pattern to repeat this year is tricky given the recent overhang of a government s…
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I think we all know over the past few years; such a large number of small businesses took a hit from the pandemic. I mean, people who had just opened their doors, or opened during the pandemic – how did they stay afloat? It comes down to the hard-working, brave owners and employees that impact our lives in so many ways. I want to hear their stories…
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There’s a certain stigma around credit cards... Specifically, because of debt, right? Some people may struggle with credit cards and get intimidated by them due to accumulated debt over the years and high interest rates. But I wanted to talk about using credit as a tool this episode.. I’ll go over the basics regarding what makes up your score, ways…
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If you tuned into the last episode here on Fast & Finance, you heard me talk about the concerns people have when their investments are down. And the theme of this episode also applies to having those down years – try not to strive for perfection, but progress. You’re hearing this from a perfectionist.... So, I understand how difficult that can be, …
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We’re going to discuss a sensitive, yet timely topic today... Considering where the markets are at right now and what we experienced in 2022, a lot of people are facing worries regarding their portfolios being down in value. And of course, why would anybody be happy about that? Rather than panicking and possibly making some emotion-controlled, irra…
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So the past few episodes have had a theme if you haven’t noticed... Budgeting, paying yourself first, and now.. Living within your means. I talk about these things often throughout different episodes, but I figured they all needed their own spotlight since the value that they hold in our financial lives. Now that you know how to structure a budget,…
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I figured after the last episode on breaking down the 50/30/20, I wanted to take some time to speak about the concept of paying yourself first – also known as reverse budgeting. If you are still brand new to budgeting and haven’t tried something like the 50/30/20 structure yet, I suggest you check out our previous episode before this one. The whole…
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I’ve had a prior episode where we touched on the 50/30/20, but I want to reiterate it and go a tad more in depth. One thing that I tend to talk about a lot throughout these episodes is budgeting – and the conversation can really go on and on about it, because everyone’s scenario is different. For some people, their monthly income and expenses are v…
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I think we can all relate to stressful setbacks that at first, may seem nearly impossible to overcome. It’s usually just our emotions that place that obstacle of getting over the setback, so the first step is getting those emotions under control. Accidents happen, emergencies happen, and unfortunately that’s just how the cookie crumbles sometimes. …
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If you guys are normal listeners to Fast & Finance, I’m sure you have heard me say the term “set it & forget it,” or “think long-term,” but I figured I would take this episode to dive into it a little bit more. Most people in the U.S are retiring between 65-70 years old... Now, for a lot of young people that just seems so far away, that there is no…
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A lot of people think that you need a HIGH net-worth to hire a financial advisor, and I’ll be the first one to tell you that is certainly not the case. There are so many situations out there in the real world that could call for a financial professional to assist you. I wanted to go over some of the most common scenarios in which people would benef…
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I know we have talked about the basics of budgeting in prior episodes, but I want to dive in more to the actual structure of your budget, finding the balance that works best for you, and making any necessary changes as you move along. Before I get into the actual budgeting part, I want to talk about some mindsets that you should try to maintain whi…
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Before we dive into anything here, I just want to make a couple things clear. Don’t make the assumption that just because you have debt, that you’re bad with your finances. Of course, within moderation and a schedule to pay that debt back, comes responsibility. Let’s try to break down a couple of methods that could help you pay off your debt faster…
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I think we all know that college isn’t cheap these days. If you’re part of the younger generations, I’m sure many of you listening right now have had a conversation with your parents about their cost of tuition being a fraction of what it is today. If only there was a way to get ahead of the game for these outrageous tuition prices…. Or maybe, ther…
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Among the many milestones in our lives – buying your first home and retiring from your career, require a lot of planning, saving… and sometimes stress. But with considerate and careful planning, it doesn’t have to be that complicated. I want to talk through these two scenarios to help individuals decide for themselves – which one comes first?…
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It can be difficult to pinpoint what your financial priorities are. Of course, there are going to be the “right” priorities and the “wrong” priorities. It’s important to know what you are working towards and set goals for yourself before figuring out a plan to get there. Setting goals and priorities will get you familiar with your situation, so you…
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There are numerous factors that come into play when we say, “get comfortable with your finances.” Finances can be a stressful topic for a large majority of people, whether it’s lack of financial education or maybe they just need some assistance. Let’s be honest, there are a lot more topics that people would rather speak about. Before taking any ste…
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So, you guys have heard me say this numerous times now by this point, but that’s okay because it’s the simplest way to explain diversification; Don’t put all your eggs in one basket. If you have eggs in multiple baskets, you won’t break all of them. To explain it in a more formal way, it’s the process of allocating your portfolio’s investments in s…
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I wanted to dedicate this whole episode to explaining dollar cost averaging and why we do it. But before diving into that, I want to talk about a concept that has been around for a long time. The concept is “timing the stock market.” – something that nobody can do. None of us know what will happen in the market for sure, as it is all a form of spec…
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I’ve been getting this question a lot over the past few months, and reasonably so; What really is a recession? Well, in simple words... growth stops, and economic activity starts to decline. Especially after a period of unsustainable growth. And for a lot of people, this is a scary time. News headlines, articles, and especially following a period o…
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The business cycle is just a termed used to describe the increase and decrease pattern in economic activity over time. And by economic activity, I mean all activities that produce, trade, and consume goods/services within the U.S. So, this can include businesses, employees, and consumers. So, the total amount of productivity within these areas is w…
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I have gotten a lot of questions regarding inflation lately, and so I figured it was most appropriate to break inflation down given the environment of our economy right now. Everyone knows that things are more expensive right now, from gas prices to grocery prices. Simply put, inflation is the rate at which the price of goods and services increases…
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For many people, the idea of budgeting can be challenging. Days are taken up with work, friends, family and the energy and activities required just to manage your life. There never seems to be enough time to focus on finances. However, budgeting is really the foundation of everything in our financial lives. Developing a budget can do more than trac…
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Indifferent to mutual funds, ETFs have intraday price movement, meaning that they are issuing and redeeming shares on an ongoing basis throughout the day, whereas mutual funds are only priced one time a day if you recall from our mutual fund episode. This ability that an ETF has to issue and redeem shares like this, helps keep the price of ETFs on …
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I’ve briefly touched on mutual funds in prior episodes when speaking on diversification and not keeping your eggs all in one basket... and mutual funds are a perfect place to get started with that concept. In short, a mutual fund is a company that pools money from numerous investors and places all the funds in varying securities such as stocks, bon…
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In our episode of debt, we had briefly touched on the definition of bonds and their creditworthiness. Just to go over it again and in laymen’s terms – a bond is simply a loan to a company or even the government, in which the investor will receive a fixed rate of return on that loan. So, in essence, bonds work by paying the “coupon rate,” which is t…
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