Catholic Money Mastermind - Financial Planning conversations with Catholic CFP® Practitioners - Investing 101: Stocks, Mutual Funds, and ETFs Explained | Nick Orenduff

Investing 101: Stocks, Mutual Funds, and ETFs Explained | Nick Orenduff

07/24/24 • 40 min

Catholic Money Mastermind - Financial Planning conversations with Catholic CFP® Practitioners

In this episode of the podcast hosted by Ben Martinek from the Catholic Financial Planners Network, guest Nick Orenduff of Orenduff Associates shares his insights on various investment vehicles and the importance of diversification. They discuss the differences between stocks, mutual funds, ETFs, and bonds, highlighting the roles these instruments play in a diversified investment portfolio. The conversation also covers the distinctions between fixed income investments and stock ownership, explaining the purposes and benefits of each. Additionally, they emphasize the significance of long-term investing and prudent financial planning for achieving financial freedom, particularly as one approaches retirement. If you’re looking for a quick introduction to investing, this is the episode for you!

Key Takeaways:

• What’s the difference between stocks, mutual funds, ETFs, and bonds? And how do I know which investment vehicle is right for me?

• How diversification and long term thinking will lead to success.

• How Isaac Newton got swept up in the stock market.

• Why are bonds less popular than stocks? And what are their benefits?

Key Timestamps:

(00:00:00) - Introduction

(00:01:34) - Nick's Journey in Financial Planning

(00:02:42) - Understanding Investing

(00:07:16) - What is a Stock and Why Do Companies Sell It?

(00:16:59) - Mutual Funds and ETFs Explained

(00:24:19) - Exploring Fixed Income Investments

(00:29:00) - How Can Bonds Serve Investors?

(00:31:26) - The Importance of Diversification

(00:34:08) - Letting the Markets Work for You

Key Topics Discussed:

Catholic Money Mastermind, Catholic financial planning, Catholic financial planners, Catholic financial advisors, Ben Martinek, faith and finances, Nick Orenduff, Orenduff and Associates, stock market, ETFs, bonds, investments

Mentions:

Nick’s Website: https://www.planmember.com/orenduff/

More of Catholic Money Mastermind:

Catholic Money Mastermind Podcast is a personal podcast meant for educational and entertainment. It should not be taken as financial advice, and is not prescriptive of your financial situation.

Are you looking to hire an advisor? Browse our members.

https://www.catholicfinancialplanners.com/financial-planners/

Are you a Financial Advisor who is serious about the Catholic Faith? Join our network.

[email protected]

Key Takeaways:

• What’s the difference between stocks, mutual funds, ETFs, and bonds? And how do I know which investment vehicle is right for me?

• How diversification and long term thinking will lead to success.

• How Isaac Newton got swept up in the stock market.

• Why are bonds less popular than stocks? And what are their benefits?

Key Timestamps:

(00:00:00) - Introduction

(00:01:34) - Nick's Journey in Financial Planning

(00:02:42) - Understanding Investing

(00:07:16) - What is a Stock and Why Do Companies Sell It?

(00:16:59) - Mutual Funds and ETFs Explained

(00:24:19) - Exploring Fixed Income Investments

(00:29:00) - How Can Bonds Serve Investors?

(00:31:26) - The Importance of Diversification

(00:34:08) - Letting the Markets Work for You

Key Topics Discussed:

Mentions:

Nick’s Website: https://www.planmember.com/orenduff/

More of Catholic Money Mastermind:

Catholic Money Mastermind Podcast is a personal podcast meant for educational and entertainment. It should not be taken as financial advice, and is not prescriptive of your financial situation.

Are you looking to hire an advisor? Browse our members.

https://www.catholicfinancialplanners.com/financial-planners/

Are you a Financial Advisor who is serious about the Catholic Faith? Join our network.

[email protected]

Previous Episode

Income Tax Efficiency | Charlie Horonzy

We’re all going to pay taxes, but knowing how the system works can prepare us for retirement with a little more money in our savings accounts. Today’s guest, Charlie Horonzy, returns to discuss the ways we can use the tax code to our advantage. We discuss how tax planning is one of the most critical aspects of financial planning, how much better retirement can be when well-planned for, and when you should be paying taxes now vs later. Charlie gives some great examples of how the Tax Cuts and Jobs Act can benefit different people depending on their tax bracket and why an emergency fund is an important part of tax planning. Near the end of the episode we discuss why your planner and your accountant must be communicating, in order for you to get the best deal on your taxes - without any surprises. This episode is a great listen for anyone ready to dig a little deeper into their tax plans.
Key Takeaways:
• How saving a few percentage points on taxes each year will pay off in the long run.

• Should you pay taxes now or later? And what savings plans are going to be right for your situation?

• How different accounts and careful reading of documents can save you a lot of pain.

• Why you should ensure your accountant and your financial planner are communicating.

Key Timestamps:
(00:00:00) - Introduction
(00:01:33) - Financial Planning is Tax Planning
(00:06:23) - Taxes Now or Taxes Later?
(00:10:17) - Tax Cuts and Jobs Act
(00:15:12) - Tax Planning for Retirement
(00:21:02) - How to Adapt Savings to Taxes
(00:23:40) - How to Plan for Changes of Plan
(00:28:22) - Emergency Funds for Tax Surprises
(00:32:02) - The Backdoor Roth
(00:35:10) - Your Planner and Accountant Need to Collaborate
(00:37:49) - Charlie’s Closing Comments
Key Topics Discussed:
Catholic Financial Planning, Catholic Financial Advisors, Catholic Money Mastermind, Faith, Finance, Tax Cuts and Jobs Act, Roth IRA, 401k, tax deferred
Mentions:
Website: https://www.focusedupfinancial.com/
LinkedIn: https://www.linkedin.com/in/charles-horonzy-cfp%C2%AE-cpa-8802b910/
More of Catholic Money Mastermind:
Catholic Money Mastermind Podcast is a personal podcast meant for educational and entertainment. It should not be taken as financial advice, and is not prescriptive of your financial situation.

Next Episode

Listen, Listen. Love, Love. | Joe Petry

Joe Petry, a fellow member of the Catholic Financial Planners Network and founder of Mayfair Financial, shares his journey from economist to financial planner, motivated by his firsthand experience with retirement and ministry. In this episode, Joe emphasizes the importance of empathy, trust, and integrating faith into his work. From working with a refugee support initiative and the Kairos prison ministry to his time teaching economics at the university level, Joe brings a wealth of empathy and knowledge to his work. His experiences have deepened his understanding of compassion and the significance of treating others with dignity, which he applies to his role as a financial advisor, particularly in helping clients navigate the psychological and financial challenges of retirement. If you’re looking to learn how ministering and financial planning go hand in hand, this is the episode for you.

Key Takeaways:

• How Joe went from economist to financial planner.

• How Joe’s experience ministering to Afghan refugees informs his work as a financial planner.

• What is an ACTS Retreat?

• What it’s like to minister in the prison system.

• How God’s love can help us become better financial planners.

• Joe’s mantra, “Listen, listen. Love, love.”

Key Timestamps:

(00:00) – Joe's Background and Career Shift

(05:33) – The Role of a Trusted Financial Advisor

(08:52) – Joe's Ministry Work with Refugees

(16:18) – Integrating Faith and Financial Planning

(23:09) – Ego and God's Work

(24:51) – Kairos Prison Ministry

(25:41) – ACTS Retreats: A Path to Vulnerability

(30:36) – Connecting Ministry to Financial Advising

(34:05) – Transformative Experiences in Prison Ministry

(42:55) – Listen, Listen, Love, Love

Key Topics Discussed:

Catholic Money Mastermind, Catholic financial planning, Catholic financial planners, Catholic financial advisors, Ben Martinek, faith and finances, Joe Petry, prison ministry, ACTS Retreat, refugees

Mentions:

Website: https://www.mayfair-financial.com/

Mentions: https://www.actsmissions.org/about/

More of Catholic Money Mastermind:

Catholic Money Mastermind Podcast is a personal podcast meant for educational and entertainment. It should not be taken as financial advice, and is not prescriptive of your financial situation.

Are you looking to hire an advisor? Browse our members