Afleveringen
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Retirement income planning requires balancing competing priorities and understanding crucial trade-offs. In this episode, Jessica Sclafani, Global Retirement Strategist at T. Rowe Price, introduces their innovative five-dimensional framework for evaluating retirement income solutions.
How to balance guaranteed income with flexibility needs Why one-size-fits-all retirement solutions rarely work Using visualization tools to understand product trade-offs Considerations for fiduciaries when selecting retirement solutions Strategies for participants with existing defined benefit plans
Traditional retirement planning often focuses solely on accumulation, but converting savings into sustainable income presents unique challenges. Jessica explains how plan sponsors and financial advisors can use this holistic framework to evaluate retirement income options based on five critical dimensions: longevity risk hedge, level of payments, volatility of payments, unexpected balance depletion, and liquidity of balance.
Key Topics:This conversation provides plan fiduciaries, advisors, and individual investors with a powerful framework to make more informed retirement income decisions.
👓 Learn more about our GUEST
Jessica Sclafani, CAIA
Global Retirement Strategist
T. Rowe Price
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Philip Chao
Website: https://philipchao.us
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DISCLOSURE: Views expressed in the Tao of Chao podcasts are individual opinions and they do not represent the employers of each guest or the firm with which each guest is associated. Our podcasts are for educational and informational purposes only and should not be deemed or viewed as investment advice or recommendations. Please consult your personal financial advisor, investment expert, or investment fiduciary before taking any actions about your plan and investments. -
Why is saving money so hard? Why is retirement planning so complicated? Gen Z and Millennials are anxious about their future, including their financial planning.
Why Gen Z and Millennials struggle with savingHow to save more without feeling deprivedThe psychology behind financial decision-makingExpert tips for maximizing retirement savingsCritical insights about Social Security's futureSimple "hacks" for better money management
Behavioral finance expert Anne Lester, author of "Your Best Financial Life: Safe, Smart Steps to the Future You Want" and former head of retirement solutions at JP Morgan Asset Management, reveals powerful insights about why we struggle with saving and investing - and shares practical solutions to overcome these challenges. Learn why your brain resists long-term financial planning and discover proven strategies to build wealth effortlessly.
Key Topics:
👓 Learn more about our GUEST
Anne Lester
Author of "Your Best Financial Life: Safe, Smart Steps to the Future You Want"
Former Head of Retirement Solutions JP Morgan
Website: https://annelester.com/👓 Learn more about our HOST
Philip Chao
Website: https://philipchao.us
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DISCLOSURE: Views expressed in the Tao of Chao podcasts are individual opinions and they do not represent the employers of each guest or the firm with which each guest is associated. Our podcasts are for educational and informational purposes only and should not be deemed or viewed as investment advice or recommendations. Please consult your personal financial advisor, investment expert, or investment fiduciary before taking any actions about your plan and investments. -
Zijn er afleveringen die ontbreken?
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What's ahead for the global economy and financial markets in 2025? Let's look back at past financial policy decisions and data for indicators.
Anthony Crescenzi, Executive Vice President and Market Strategist at PIMCO, shares his expert analysis of what's ahead in 2025. In this wide-ranging conversation recorded at the 2024 Spark Forum (on the eve of President Donald Trump's reelection), Crescenzi discusses the Federal Reserve's approach to price stability and interest rates, America's industrial renaissance, and the future of U.S. monetary policy.
Key topics covered:
- Federal Reserve's 2% inflation target and the true meaning of price stability
- Impact of government spending on interest rates
- U.S. dollar's role as global reserve currency
- Changing demographics and investment implications
- Future of fiscal policy and industrial initiatives
This podcast episode provides essential insights for institutional investors, retirement plan advisors, and investment professionals navigating an evolving economic landscape and political uncertainty.
👓 Learn more about our GUEST
Anthony Crescenzi
PIMCO
Executive Vice President and Market Strategist
Website: https://www.pimco.com/us/en/experts/tony-crescenzi👓 Learn more about our HOST
Philip Chao
Website: https://philipchao.us
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DISCLOSURE: Views expressed in the Tao of Chao podcasts are individual opinions and they do not represent the employers of each guest or the firm with which each guest is associated. Our podcasts are for educational and informational purposes only and should not be deemed or viewed as investment advice or recommendations. Please consult your personal financial advisor, investment expert, or investment fiduciary before taking any actions about your plan and investments. -
How can advisors and plan sponsors tackle the complexities of lifetime income and retirement sufficiency? In this episode of the Tao of Chao, Philip sits down with Bonnie Treichel, Chief Solutions Officer at Endeavor Retirement, to explore the critical role of frameworks, behavioral finance, and procedural prudence in addressing retirement challenges.
They discuss the importance of asking the right questions, the evolving landscape of QDIA solutions, and how collaboration across the industry can drive better outcomes for plan participants. Whether you're an advisor, plan sponsor, or financial professional, this episode offers actionable insights to improve your approach to retirement planning.
Subscribe to the Tao of Chao YouTube channel for expert conversations on fiduciary leadership, financial strategies, and industry innovation.
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Philip Chao
Website: https://philipchao.us
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DISCLOSURE: Views expressed in the Tao of Chao podcasts are individual opinions and they do not represent the employers of each guest or the firm with which each guest is associated. Our podcasts are for educational and informational purposes only and should not be deemed or viewed as investment advice or recommendations. Please consult your personal financial advisor, investment expert, or investment fiduciary before taking any actions about your plan and investments. -
In life, we all operate in a varying degree of ignorance or blindness when deciding the future. Information is the critical ingredient - even though the final decision is based on one’s judgment and interpretation of the information. In theory, the more relevant and accurate information we have, the higher the probability of us making the “right” decision about the future.
Even though there is no perfect prediction about how others would react to the same set of information, there should be an information advantage for those with more timely information in hand. Philip’s discussion with Will Kinlaw at State Street Bank introduces what State Street is doing about collecting more real-time information so that asset allocations, asset owners, and asset managers can make better-informed decisions.👓 Learn more about our HOST
Philip Chao
Website: https://philipchao.us
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DISCLOSURE: Views expressed in the Tao of Chao podcasts are individual opinions and they do not represent the employers of each guest or the firm with which each guest is associated. Our podcasts are for educational and informational purposes only and should not be deemed or viewed as investment advice or recommendations. Please consult your personal financial advisor, investment expert, or investment fiduciary before taking any actions about your plan and investments. -
Daniel Close, Lead Portfolio Manager for High-Yield Municipal Strategies at Nuveen, joins host Philip Chao in this episode of Tao of Chao to explore the evolving landscape of high-yield municipals. They discuss the effects of the Fed's rate cuts, differences between municipal and treasury yield curves, and the future of fixed-income solutions. Daniel shares his expert insights on municipal market growth, supply-demand dynamics, and what makes today's high-yield municipal bonds different from the past. Don't miss this deep dive into the opportunities and risks of municipal investing!
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📊 Nuveen's Municipal Market Update
See Daniel's Slide Deck PDF here: https://philipchao.us/wp-content/uploads/0831-municipal-market-update-presentation.pdf
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Philip Chao
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👓 Learn more about our GUEST
Daniel Close
Head of Municipals at Nuveen
Website: https://www.nuveen.com👓 Learn more about our HOST
Philip Chao
Website: https://philipchao.us
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DISCLOSURE: Views expressed in the Tao of Chao podcasts are individual opinions and they do not represent the employers of each guest or the firm with which each guest is associated. Our podcasts are for educational and informational purposes only and should not be deemed or viewed as investment advice or recommendations. Please consult your personal financial advisor, investment expert, or investment fiduciary before taking any actions about your plan and investments. -
In this episode of The Tao of Chao podcast, host Philip Chao switches roles and becomes the guest as he sits down with Bryan Moore for a deep dive into discretionary investment management and the importance of diversification. Philip shares insights into his work advising institutions, including the nuances of behavioral finance and portfolio management in today’s financial landscape. Together, they explore how tactical adjustments can protect clients from market volatility while also seizing new opportunities.
Philip also reflects on the early influences that shaped his financial journey and the balance between emotion and strategy in managing wealth. Don’t miss this engaging conversation packed with practical advice for investors and financial advisors alike.
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Philip Chao
Website: https://philipchao.us
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DISCLOSURE: Views expressed in the Tao of Chao podcasts are individual opinions and they do not represent the employers of each guest or the firm with which each guest is associated. Our podcasts are for educational and informational purposes only and should not be deemed or viewed as investment advice or recommendations. Please consult your personal financial advisor, investment expert, or investment fiduciary before taking any actions about your plan and investments. -
Join us as we sit down with Dr. Andrew Selee, president of the Migration Policy Institute, to discuss the complexities of immigration and migration policies globally, with a special focus on the United States, Latin America, and the Caribbean. Dr. Selee shares insights from his extensive research, the current state of migration, and the impact of immigration on economies and societies. Tune in to understand the challenges and opportunities in managing migration and the future of immigration policies.
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Philip Chao
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DISCLOSURE: Views expressed in the Tao of Chao podcasts are individual opinions and they do not represent the employers of each guest or the firm with which each guest is associated. Our podcasts are for educational and informational purposes only and should not be deemed or viewed as investment advice or recommendations. Please consult your personal financial advisor, investment expert, or investment fiduciary before taking any actions about your plan and investments. -
In the 20th episode of the Tao of Chao podcast, host Philip Chao sits down with Todd Levy, a Managing Director with The Retirement Plan Company, one of the country’s leading independent providers of account recordkeeping, third-party administration, and actuarial services for qualified retirement plans. They analyze the intricate world of fiduciary responsibilities, the evolving landscape of retirement planning, and the importance of maintaining clear client communication.
The discussion covers the critical aspects of fiduciary duties, including the importance of transparency, maintaining client trust, and navigating the complexities of providing various services within the retirement planning space. Two current class action cases involving cross-selling investment services by a recordkeeping and the use of managed account as a default investment were helpful case studies to illustrate fiduciary landmines. The allegations of fiduciary violation if proven true will have significant influence over how services would be offered and considered in a world where service provider revenues are squeezed with increasing demand for more services. Philip and Todd also explore the implications of the new fiduciary rule, and the significance of the SECURE Act in shaping the future of retirement planning.
Tune in to gain a deeper understanding of the fiduciary landscape and learn how industry professionals like Todd Levy navigate their multifaceted roles to serve the best interests of their clients.
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Philip Chao
Website: https://philipchao.us
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DISCLOSURE: Views expressed in the Tao of Chao podcasts are individual opinions and they do not represent the employers of each guest or the firm with which each guest is associated. Our podcasts are for educational and informational purposes only and should not be deemed or viewed as investment advice or recommendations. Please consult your personal financial advisor, investment expert, or investment fiduciary before taking any actions about your plan and investments. -
Michael Underhill, a trained economist, investment strategist, and investor in the infrastructure space, emphasizes the urgency of two crucial policy areas for the future — energy and immigration. Michael and Philip Chao stress the need for a comprehensive energy policy to prepare for increased energy dependence and a coherent immigration policy to support the human capital demand necessary for the American manufacturing revival. These policies are not just beneficial but essential for the future of our economy.
With $2 trillion committed by the government through the Infrastructure, CHIP, and Inflation Reduction Acts, the revival of U.S. manufacturing and infrastructure is underway. Over the next 5-20 years, private industry might invest an additional tenfold. The goal is to bring back high-value manufacturing and critical industries to the U.S., creating thousands of blue and white-collar jobs locally. Significant investments will focus on chip fabrication, energy production, and transition. The next five years may be a renaissance for the American economy, driven by a new industrial policy emerging from great power competition and supply chain insecurities highlighted by the pandemic.
However, challenges lie ahead, particularly in sourcing strategic minerals and accessing a labor force with the necessary skills. These limited resources are a concern for all major economies. Michael Underhill explores these themes and challenges, providing insights into why inflation and interest rates will likely remain high for much longer.
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Philip Chao
Website: https://philipchao.us
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DISCLOSURE: Views expressed in the Tao of Chao podcasts are individual opinions and they do not represent the employers of each guest or the firm with which each guest is associated. Our podcasts are for educational and informational purposes only and should not be deemed or viewed as investment advice or recommendations. Please consult your personal financial advisor, investment expert, or investment fiduciary before taking any actions about your plan and investments. -
If you are a student of the market and interested in gaining insights into the cyclical and secular landscape, topics that are highly relevant in today's economic climate, please tune in to this episode of Tao of Chao.
The world is always uncertain, and Dr. Onsel Gulbiten offers her view on inflation, interest rate risks, and geopolitical challenges. Michael Salm provides his perspective on separating sovereign, private, corporate, and banking balance sheets to understand the marketplace and the general economic driver first and then, through relative value, make investment decisions.
Philip Chao addresses several macroeconomic themes with Dr. Onsel Gulbiten and how this macro view impacts Michael Salm's view on the market. Both Michael and Onsel are on the Franklin Templeton fixed income team, where Michael is the Head of Multi-Sector Strategy and Onsel specializes in analyzing macroeconomic, political, financial, and other policy developments in global markets.
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Philip Chao
Website: https://philipchao.us
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DISCLOSURE: Views expressed in the Tao of Chao podcasts are individual opinions and they do not represent the employers of each guest or the firm with which each guest is associated. Our podcasts are for educational and informational purposes only and should not be deemed or viewed as investment advice or recommendations. Please consult your personal financial advisor, investment expert, or investment fiduciary before taking any actions about your plan and investments. -
“Personalization” in defined contribution retirement arrangements such as 401(k), 403(b), and 457 plans continues to gain momentum. This is not a fad or a marketing slogan. It is real and does improve outcomes. One way or another, personalization has seeped into our lives by suggesting entertainment, improving comfort in automobiles, saving time in kitchens, tailoring education, providing faster food service, and providing unique shopping experiences. However, personalization in retirement planning is not just a “feel good” comfort-driven sales experience. It uses data to build better solutions and make financial advice more accessible to employees. Shawn O’Brien at Cerulli has many years of research and “in the trenches” consulting experience, and he shares his contemporary insights on managed accounts, financial wellness, and the personalization ecosystem on the latest Tao of Chao podcast. This is an episode that HR executives, benefits professionals, plan fiduciaries, advisors, and consultants can all benefit from. We hope that you will enjoy listening to this episode.
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Philip Chao
Website: https://philipchao.us
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DISCLOSURE: Views expressed in the Tao of Chao podcasts are individual opinions and they do not represent the employers of each guest or the firm with which each guest is associated. Our podcasts are for educational and informational purposes only and should not be deemed or viewed as investment advice or recommendations. Please consult your personal financial advisor, investment expert, or investment fiduciary before taking any actions about your plan and investments. -
The Department of Labor has once again proposed changes to The Fiduciary Rule to expand fiduciary application to those selling investing products and delivering advice to retirement plans.
Kevin Walsh, a legal expert in this matter joins Philip Chao to discuss the reasons behind the push and what the DOL is trying to accomplish. There is no question that we need fiduciaries to serve in our best interest but will the DOL's approach succeed in extending projection under every circumstance?👓 Learn more about our HOST
Philip Chao
Website: https://philipchao.us
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DISCLOSURE: Views expressed in the Tao of Chao podcasts are individual opinions and they do not represent the employers of each guest or the firm with which each guest is associated. Our podcasts are for educational and informational purposes only and should not be deemed or viewed as investment advice or recommendations. Please consult your personal financial advisor, investment expert, or investment fiduciary before taking any actions about your plan and investments. -
Chinese Americans quickly learn that there are cultural differences between the Eastern and Western business worlds. Today's guest is our bridge between the two.
In this podcast episode, Philip Chao interviews Joy Chen, CEO of the Multicultural Leadership Institute. They discuss the importance of cross-cultural communication and the impact of cultural differences on leadership success. Joy shares her personal journey and how she developed cultural fluency through immersion in Western business cultures. From this personal story, Chen and Chao explore the challenges faced by Chinese immigrants in Western companies and the need to understand the unwritten rules of the game. From schooling to overcoming accent biases, they explore the shallow understanding of diversity and the need to focus on cultural diversity rather than just race.
From today's episode, you'll hear these key takeaways:
- What are "WEIRD" cultures (Western Educated Industrialized Rich Democracies)
- Grades are important, but they are not the sole determinant of success. Cultural and social skills are equally important.
- Accent bias exists in American society, but it can be overcome by developing relationships and showcasing one's value.
- Building relationships and venturing out of one's comfort zone is crucial for personal and professional growth.
- Diversity should be understood in terms of cultural diversity, not just race.👓 Learn more about our HOST
Philip Chao
Website: https://philipchao.us
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DISCLOSURE: Views expressed in the Tao of Chao podcasts are individual opinions and they do not represent the employers of each guest or the firm with which each guest is associated. Our podcasts are for educational and informational purposes only and should not be deemed or viewed as investment advice or recommendations. Please consult your personal financial advisor, investment expert, or investment fiduciary before taking any actions about your plan and investments. -
Welcome to Tao of Chao, where we explore some of the most important topics in finance and economics. Join Philip Chao as he welcomes Peter Scoblic to explore the fascinating world of strategic foresight. Peter is the co-founder, and principal of Event Horizon Strategies. Peter is also a professor at Georgetown University and Harvard’s Development Program, and he is currently writing a book about the history of decision making under uncertainty. In this episode, Peter dives into how to formulate strategies under uncertainty and predict and prepare for global macrotrends that will drive change for the next 30 years. Don't miss out — gain an advantage in your investment strategy!
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Philip Chao
Website: https://philipchao.us
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DISCLOSURE: Views expressed in the Tao of Chao podcasts are individual opinions and they do not represent the employers of each guest or the firm with which each guest is associated. Our podcasts are for educational and informational purposes only and should not be deemed or viewed as investment advice or recommendations. Please consult your personal financial advisor, investment expert, or investment fiduciary before taking any actions about your plan and investments. -
Welcome to Tao of Chao, where we explore some of the most important topics in finance and economics. Join Philip Chao as he welcomes Elliot Hentov back for an important discussion on Central Bank Digital Currency (CBDC). Elliot is the head of macro policy research and chief geopolitical strategist at State Street Global Advisors, so he's got a unique insight into this topic. Discover why CBDCs are growing in popularity, how they differ from cryptocurrencies, and what implications they have for public policy. Watch now!
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Philip Chao
Website: https://philipchao.us
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DISCLOSURE: Views expressed in the Tao of Chao podcasts are individual opinions and they do not represent the employers of each guest or the firm with which each guest is associated. Our podcasts are for educational and informational purposes only and should not be deemed or viewed as investment advice or recommendations. Please consult your personal financial advisor, investment expert, or investment fiduciary before taking any actions about your plan and investments. -
Welcome to Tao of Chao! Join us for this episode where Philip Chao sits down with Alona Gornick, managing director, senior investment strategist, and co-head of the Chicago office for Churchill Asset Management. Tune in as they discuss private credit and hear Alona's insights on this powerful complement to traditional fixed-income strategies. Don't miss out on this valuable conversation about private credit!
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Philip Chao
Website: https://philipchao.us
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DISCLOSURE: Views expressed in the Tao of Chao podcasts are individual opinions and they do not represent the employers of each guest or the firm with which each guest is associated. Our podcasts are for educational and informational purposes only and should not be deemed or viewed as investment advice or recommendations. Please consult your personal financial advisor, investment expert, or investment fiduciary before taking any actions about your plan and investments. -
In this episode of the Tao of Chao podcast, Philip Chao talks with Michael Cirami, managing director of Artisan Partners and lead portfolio manager of Emerging Markets Debt Strategies, as they discuss the emerging bond landscape and what kind of opportunities are available in today's uncertain global economy. With geopolitical conflicts flaring up around the world, it can be difficult to know what investments to make. Michael provides insight into how to identify opportunities amidst uncertainty and how you can leverage emerging markets for growth. Tune in now to learn more.
Check out previous Tao of Chao episodes for more insights into the world of retirement planning!
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Philip Chao
Website: https://philipchao.us
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DISCLOSURE: Views expressed in the Tao of Chao podcasts are individual opinions and they do not represent the employers of each guest or the firm with which each guest is associated. Our podcasts are for educational and informational purposes only and should not be deemed or viewed as investment advice or recommendations. Please consult your personal financial advisor, investment expert, or investment fiduciary before taking any actions about your plan and investments. -
In this episode of the Tao of Chao podcast, Philip Chao sits down with Matthew Mintzer, Executive VP of Pentegra Retirement Services, and financial industry veteran to discuss the significance of the Fiduciary Standard under ERISA (Employee Retirement Income Security Act). We live in an age where technology provides us with endless data, but how do fiduciaries navigate it wisely, and use it to advise clients on retirement planning?
Check out previous Tao of Chao episodes for more insights into the world of retirement planning!👓 Learn more about our HOST
Philip Chao
Website: https://philipchao.us
Follow Philip on LinkedIn
DISCLOSURE: Views expressed in the Tao of Chao podcasts are individual opinions and they do not represent the employers of each guest or the firm with which each guest is associated. Our podcasts are for educational and informational purposes only and should not be deemed or viewed as investment advice or recommendations. Please consult your personal financial advisor, investment expert, or investment fiduciary before taking any actions about your plan and investments. -
Philip Chao welcomes investment strategy expert John Lunt, President of Capital Management, Inc. to the Tao of Chao podcast to explore factor investing.
Learn the benefits of factor investing and how using macroeconomic and statistical factors to create an investment plan can result in greater diversification and a higher return on your investments, while mitigating risk. Don't miss this insightful conversation — listen now!👓 Learn more about our HOST
Philip Chao
Website: https://philipchao.us
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DISCLOSURE: Views expressed in the Tao of Chao podcasts are individual opinions and they do not represent the employers of each guest or the firm with which each guest is associated. Our podcasts are for educational and informational purposes only and should not be deemed or viewed as investment advice or recommendations. Please consult your personal financial advisor, investment expert, or investment fiduciary before taking any actions about your plan and investments. - Laat meer zien
