Episode 28 covers our breakdown of travel in 2023 and how we took advantage of our credit card points and other travel programs. Focusing primarily on Southwest Companion Pass and Marriott Bonvoy as the two main programs. But also how Reign Over Money utilizes different credit cards from Chase and CapitalOne to overcome the expenses of travel.
In this episode Reign Over Money shows a common tool financial advisors use in retirement planning and how to have some fun with it. The introduction of a Monte Carlo simiulation also helps to highlight what is called Sequence of Return Risk and why individuals should care about that near and in retirement.
In the final episode of 2023, Kevin gives a recap of the 18 episodes that made up the Reign Over Money Diamond. The diamond was created by Kevin as a building block for personal finance and all things money as a jumping off point for different topics. Each segment of the ROM Diamond will be discussed in much deeper detail in episodes to follow.
In Episode 24, Kevin talks about the major problem facing many people, how to control the variable expenses (wants) versus needs; those absolute needs (shelter, food) and allowable needs. This episode gives some ideas and food for thought on focusing on how to lower variable costs or wants to get to the ultimate goal of creating a surplus in income versus expense on a month to month basis.