Our guests on the podcast today are Cody Garrett and Sean Mullaney. They’re both advice-only financial planners, and they’re the co-authors of a new book called Tax Planning To and Through Early Retirement. Cody is a certified financial planner and the founder of Measure Twice Money, where he helped DIY investors make informed decisions aligned with their values. He also leads Measure Twice Planners, which is an educational community for financial planners. Sean Mullaney is a certified public accountant and head of Mullaney Financial & Tax. He also writes the blog, FITaxGuy.com, which is focused on the intersection between financial independence and taxes.

Sean Mullaney

Cody Garrett

Measure Twice Money

Measure Twice Financial

Measure Twice Planners

Mullaney Financial & Tax

FITaxGuy.com

Tax Planning To and Through Early Retirement, by Cody Garrett and Sean Mullaney

“The Backdoor Roth IRA After an Excess Contribution to a Roth IRA,” Sean Mullaney, FITaxGuy.com, Dec 16, 2025

“Why I Don’t Worry Much About Sequence of Returns Risk,” Sean Mullaney, FITaxGuy.com, Jun 10, 2025

“The Tax Planning World Has Changed,” by Sean Mullaney, FITaxGuy.com, Sep. 22, 2025

“Bogleheads on Investing® with Cody Garrett, CFP®, and Sean Mullaney, CPA on tax planning to and through retirement: Episode 89″ by Bogleheads on Investing® podcast, BogleCenter.net, Dec. 7, 2025

“Managing Taxes in Retirement with Sean Mullaney,” by the White Coat Investor Podcast, WhiteCoatInvestor.com, Nov 20, 2025.

Die With Zero: Getting All You Can from Your Money and Your Life―A Revolutionary Approach to Maximizing Life Experiences Over Accumulating Wealth, by Bill Perkins

“Reframing Risk In Retirement As “Over- And Under-Spending” To Better Communicate Decisions To Clients, And Finding “Best Guess” Spending Level,” by Michael Kitces, Kitces.com, Apr. 24 2024.

“My Baptism by FIRE: Lessons on Financial Independence,” by Christine Benz, Morningstar.com, May 29, 2025.

“Aiming to ‘Die with Zero’? Here Are the Implications for Portfolio Construction and Retirement Spending,” by Jess Bebel, Morningstar.com, Apri. 6, 2025

"Derek Tharp: An Alternative Approach to Calculating In-Retirement Withdrawals," The Long View podcast, Morningstar.com, Feb. 21, 2023

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Bio

“The Theory Behind the Age-Related Positivity Effect,” Andrew Reed and Laura Carstensen, NIH.gov, Sept. 27, 2012.

“Investing Without Blind Spots,” Better Vantage podcast, Nov. 12, 2025.

“Out of Sight, Out of Market: The IRA Cash Drag,” by Andy Reed et al., Vanguard.com, Sept. 5, 2024.

“Advisors and Investors Split on Inflation, Bond Views,” by Xiao Xu and Andy Reed, Vanguard.com, Sept. 12, 2025.

“Stress, Debt, and the Power of Planning,” by Anna Madamba and Andy Reed, Vanguard.com, April 9, 2025

“Improving Retirement Outcomes by Default: The Case for an IRA QDIA,” by Andy Reed, et al., Vanguard.com, July 2024.

"Maximizing versus Satisficing: Happiness Is a Matter of Choice," by Barry Schwartz, Andrew Ward, et al., NIH.gov, November 2002.

“The Ostrich Effect: Selective Attention to Information,” George Loewenstein and Duane Seppi, CMU.edu, Feb. 11, 2009.

“Inside the Minds of Equity Income Fund Investors,” Sharon Hill and Paulo Costa, Vanguard.com, Aug. 26, 2025.

“Trading Is Hazardous to Your Wealth: The Common Stock Investment Performance of Individual Investors,” Brad Barber and Terrance Odean, Berkeley.edu, April 2000.

The Paradox of Choice: Why More Is Less, by Barry Schwartz

Nudge: Improving Decisions About Health, Wealth, and Happiness, by Richard Thaler and Cass Sunstein

The Elements of Choice: Why the Way We Decide Matters, by Eric Johnson

“Was Bogle’s Princeton Thesis Eerily Prescient?” by Jess Bebel, Morningstar.com, May 27, 2022.

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Today on the podcast we welcome back Cullen Roche. He has a new book out called Your Perfect Portfolio: The Ultimate Guide to Using the World’s Most Powerful Investment Strategies. Cullen is also the founder and chief investment officer of Discipline Funds, and he heads up Orcam Group, a registered investment advisory firm he established in 2012. Cullen started his career as an advisor at Merrill Lynch and worked at an event-driven hedge fund before starting his RIA firm. He received his bachelor’s degree in finance from Georgetown University’s McDonough School of Business. Cullen, welcome back to The Long View.

Bio

Discipline Funds

Your Perfect Portfolio: The Ultimate Guide to Using the World’s Most Powerful Investment Strategies

Pragmatic Capitalism: What Every Investor Needs to Know About Money and Finance

“Three Things—Weekend Reading,” by Cullen Roche, disciplinefunds.com, Oct. 11, 2025.

“Three Things—Bubbles, Paradoxes & QE,” by Cullen Roche, disciplinefunds.com, Dec. 12, 2025.

“Three Things—Gold, Cuts and Divorces,” by Cullen Roche, disciplinefunds.com, Sept. 19, 2025.

“Three Things—Where Did the Integrity Go?” by Cullen Roche, disciplinefunds.com, Aug. 21, 2025.

“Bonds: It’s Still Time to Chill (For a Little Longer Though),” by Cullen Roche, disciplinefunds.com, May 22, 2025.

Discipline Funds’ Tariff Tracker

“Cullen Roche: What Tariffs Mean for Your Portfolio,” The Long View podcast, Morningstar.com, April 22, 2025.

Bill Bernstein

Taylor Larimore

“The Case for a ‘Good Enough’ Portfolio,” by Christine Benz, Morningstar.com, Oct. 27, 2025.

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Hi and welcome to The Long View. I’m Christine Benz, director of personal finance and retirement planning for Morningstar. On this week’s episode, we will feature some of our favorite clips from interviews we have done with financial planners, advisors, and retirement researchers over the past year. It’s a counterpart to a previously released “Best Of” episode that was all about investing. As usual, we delved into the topic of psychology and money, and the importance of tuning out the noise if you’re a long-term investor.

“JL Collins: The (Still) Simple Path to Wealth,” The Long View podcast, Morningstar.com, July 1, 2025.

“Charley Ellis: Indexing Is a Marvelous Gift,” The Long View podcast, Morningstar.com, Aug. 5, 2025.

“Larry Jacobson: ‘The Good Things in Our Life Are What Get in the Way of Great Things,’” The Long View podcast, Morningstar.com, Sept. 16, 2025.

“Dan Haylett: ‘The Retirement You Didn’t See Coming,’” The Long View podcast, Morningstar.com, Nov. 18, 2025.

“Kerry Hannon: What Gen Xers Need to Know About Their Retirement Plans,” The Long View podcast, Morningstar.com, Sept. 30, 2025.

“Carl Richards: The Case for ‘Deeply Human’ Financial Advice,” The Long View podcast, Morningstar.com, Oct. 21, 2025.

“Dana Anspach and Fritz Gilbert: ‘This Is What a Joyful Retirement Could Feel Like,’” The Long View podcast, Morningstar.com, Sept. 23, 2025.

“Barry Ritholtz: ‘How Not to Invest,’” The Long View podcast, Morningstar.com, Oct. 7, 2025.

“Nick Maggiulli: Climbing the Wealth Ladder,” The Long View podcast, Morningstar.com, July 22, 2025.

“Doug and Heather Boneparth: How Couples Can Find Financial Harmony,” The Long View podcast, Morningstar.com, Oct. 28, 2025.

“Ramit Sethi: ‘We Have to Make Money Fun and Connective,’” The Long View podcast, Morningstar.com, March 4, 2025.

“Beth Pinsker: Lessons From ‘My Mother’s Money,’” The Long View podcast, Morningstar.com, Nov. 4, 2025.

“Jean Chatzky: What Women Need to Do Differently With Their Money,” The Long View podcast, Morningstar.com, April 8, 2025.

“Sahil Bloom: ‘Curiosity Is the Fountain of Youth,’” The Long View podcast, Morningstar.com, Feb. 4, 2025.

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Hi, and welcome to The Long View. I’m Dan Lefkovitz, strategist for Morningstar Indexes. In this episode, we’ll share some of our favorite clips from 2025 interviews with portfolio managers, economists, and investment researchers. It’s a companion to Christine Benz’s “Best Of” episode featuring highlights from conversations with financial planners, advisors, and retirement researchers. We’ll begin with some prescient words from Hendrik du Toit, co-founder of global investment manager, Ninety One, who spoke to Christine Benz and me at the start of the year from Cape Town, South Africa. Hendrik talked about the appeal of emerging-markets investments, both debt and equity, asset classes that went on to have good years in 2025.

“Hendrik du Toit: ‘Small Things Can Make a Big Difference,’” The Long View podcast, Morningstar.com, Jan. 21, 2025.

“Cliff Asness: ‘The Problem Was Never Beta. The Problem Was Paying Alpha Fees for Beta,’” The Long View podcast, Morningstar.com, July 29, 2025.

“Vincent Montemaggiore: ‘The Two Best Defenses Against Tariffs Are a High-Gross Profit Margin and Pricing Power,’” The Long View podcast, Morningstar.com, April 15, 2025.

“Louis-Vincent Gave: ‘The Future Is Being Built Over There,’” The Long View podcast, Morningstar.com, Feb. 25, 2025.

“Jason Zweig: Revisiting ‘The Intelligent Investor,’” The Long View podcast, Morningstar.com, May 27, 2025.

“Mike Pyle: Looking for Uncorrelated Sources of Return,” The Long View podcast, Morningstar.com, Oct. 14, 2025.

“Neal Shearing: The World Isn’t Deglobalizing; It’s Fracturing,” The Long View podcast, Morningstar.com, Aug. 26, 2025.

“Sudarshan Murthy: ‘These Countries Are in Much Better Shape Than They Were 10 Years Back,’” The Long View podcast, Morningstar.com, March 25, 2025.

“Joe Davis: How to Capitalize on ‘Megatrends,’” The Long View podcast, Morningstar.com, Sept. 2, 2025.

“Callie Cox: A Student Teacher of Financial Markets,” The Long View podcast, Morningstar.com, Nov. 11, 2025.

“Brian Selmo: ‘Winning by Not Losing,’” The Long View podcast, Morningstar.com, July 15, 2025.

“Daniel Rasmussen: ‘Be Very Wary of Illiquid Asset Classes,’” The Long View podcast, Morningstar.com, May 6, 2025.

“Eric Jacobson: The Entire Face of the Bond Market Has Changed,” The Long View podcast, Morningstar.com, Nov. 25, 2025.

“Barry Ritholtz: ‘How Not to Invest,’” The Long View podcast, Morningstar.com, Oct. 7, 2025.

“John Rekenthaler: ‘The House Is With You When You’re Investing,’” The Long View podcast, Morningstar.com, Jan. 28, 2025.

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Our guest on the podcast today is Lyle Fitterer, a senior portfolio manager and co-lead on the municipal bond sector for Baird Advisors. He has 36 years of experience managing bond portfolios. Prior to joining Baird in 2019, he served as the co-head of global fixed income and the head of the municipal fixed income team as Wells Fargo Asset Management. Lyle obtained his undergraduate degree in accounting from the University of North Dakota. He earned the chartered financial analyst designation in 1996 and is currently a member of the CFA Institute and the CFA Society of Milwaukee.

Bio

Baird Short-Term Municipal Bond Fund BTMIX

Baird Strategic Municipal Bond Fund BSNIX

Baird Quality Intermediate Municipal Bond Fund BMBIX

Baird Core Intermediate Municipal Bond Fund BMNIX

Baird Municipal Bond Fund BMQIX

“The New Allure of Muni Bond Funds. Two Pros Point the Way,” by Debbie Carlson, barrons.com, Aug. 21, 2025.

“Fitterer: Muni Bond Market Offers Compelling Opportunities,” Podcast with Chuck Jaffe, bairdassetmanagement.com, July 29, 2025.

“Muni Bonds Aren’t Just for Rich Folks,” by Jeff Schlegel, fa-mag.com, Nov. 1, 2024.

“Muni Bonds Are Looking Better,” by Elizabeth Foos, Morningstar.com, Oct. 28, 2025.

Vanguard Tax-Exempt Bond Index Fund ETF Shares VTEB

Vanguard Tax-Exempt Bond Index Fund Admiral Shares VTEAX

“In Wreckage of Muni Market Crash, Brave Investors Eye Bonds at 90% Yields,” by Amanda Albright, advisorperspectives.com, March 25, 2020.

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Our guest on the podcast today is Joy Loverde. Joy is the author of Who Will Take Care Of Me When I’m Old? and The Complete Eldercare Planner. She also gives keynotes and workshops on aging and eldercare to many different types of organizations. In addition, she serves as a consultant to senior housing providers, HR professionals, attorneys, financial planners, clergy, and other members of the eldercare industry. She has also been a family caregiver to family and friends.

Bio

Who Will Take Care of Me When I’m Old? Plan Now to Safeguard Your Health and Happiness in Old Age

The Complete Eldercare Planner, Revised and Updated 4th Edition: Where to Start, Which Questions to Ask, and How to Find Help

“'Aging in Place Has a Shelf Life’: What This Eldercare Expert Wants You to Know,” by Beth Pinsker, marketwatch.com, Oct. 28, 2023.

“Preparing Solo Agers to Receive Long-Term Care,” by Joy Loverde, generations.asaging.org, June 21, 2023.

“How to Manage Sibling Conflict Over Care of Elderly Parents,” by Elaine K. Howley, health.usnews.com, Feb. 5, 2025.

“Going Solo: How to Plan for Retirement When You’re on Your Own,” by Diane Harris, nytimes.com, July 20, 2025.

“Create a Life of Independence and Connection in Later Years,” seattletimes.com, June 30, 2025.

My Mother’s Money: A Guide to Financial Caregiving, by Beth Pinsker

“Beth Pinsker: Lessons From ‘My Mother’s Money,’” The Long View podcast, Morningstar.com, Nov. 4, 2025.

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