Trusts can be a powerful estate planning tool, but many people overlook them or assume they’re only for the wealthy. This episode breaks down how trusts work, including key differences between revocable and irrevocable trusts and their role in probate, asset management, and control. It also explores when a trust might make sense based on your goals, family needs, and financial situation. If you’re building an estate plan, understanding trusts can help you make more informed decisions.

After you listen:

• Find more of Schwab's educational resources on trusts.
• Learn more about estate planning from Austin Jarvis.

Financial Decoder is an original podcast from Charles Schwab.

If you enjoy the show, please leave us a rating or review on Apple Podcasts.

Reach out to Mark on X @MarkRiepe with your thoughts on the show.

Follow Financial Decoder on Spotify to comment on episodes.

Important Disclosures

This material is intended for general informational and educational purposes only. This should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned are not suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decisions.

All expressions of opinion are subject to change without notice in reaction to shifting market, economic or political conditions.

This general information is not intended to be a substitute for specific individualized tax, legal, or investment planning advice and is not intended to be construed as tax advice. This information cannot be used for the purpose of avoiding penalties that may be imposed under the Internal Revenue Code or applicable state or local tax law provisions. Where specific advice is necessary or appropriate, Schwab recommends consulting with a qualified tax professional, CPA, financial planner, investment manager , or estate attorney>.

Investing involves risk, including loss of principal.

The Schwab Center for Financial Research is a division of Charles Schwab & Co., Inc.

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Giving financial guidance to a college grad can be challenging, especially when advice is unsolicited or poorly timed. In this episode, host Mark Riepe is joined by returning guest, Patrick Means, to break down how to help new graduates make smarter financial and investing decisions by focusing on communication, not just content. Discover how to frame advice around a young adult's goals, avoid common pitfalls, and address behavioral biases such as procrastination and exponential growth bias. Plus learn the foundational habits that set college grads up for long-term financial success, from budgeting to investing.

After you listen:

• Find more educational resources at Schwab Moneywise Teens.
• Learn more about the Schwab Teen Investing Account.

Financial Decoder is an original podcast from Charles Schwab.

If you enjoy the show, please leave us a rating or review on Apple Podcasts.

Reach out to Mark on X @MarkRiepe with your thoughts on the show.

Follow Financial Decoder on Spotify to comment on episodes.

Important Disclosures

This material is intended for general informational and educational purposes only. This should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned are not suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decisions.

All expressions of opinion are subject to change without notice in reaction to shifting market, economic or political conditions.

For important information on the Schwab Teen Investor™ account, including restrictions and limitations, go to schwab.com/teen-account.

Investing involves risk, including loss of principal.

​Past performance is no guarantee of future results.

All corporate names and market data shown are for illustrative purposes only and are not a recommendation, offer to sell, or a solicitation of an offer to buy any security.

The Schwab Center for Financial Research is a division of Charles Schwab & Co., Inc.

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Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

After you listen:

• Check out "Tax Basics: How to Plan Year-Round."
• Find more financial-planning resources on Schwab's Insights & Education site.

On this episode, Mark Riepe examines why investors often approach taxes with a short-term mindset and how that can undermine long-term financial outcomes. Mark is joined by Hayden Adams, director of tax planning and wealth management research at the Schwab Center for Financial Research, to explore the difference between tax preparation and year-round tax planning. They discuss how tax aversion and loss aversion can distort decisions around investing, account selection, and retirement distributions, often leading people to prioritize minimizing today's tax bill over maximizing lifetime after-tax wealth. The conversation emphasizes the value of taking a longer view on taxes and integrating them thoughtfully into broader financial-planning decisions.

Financial Decoder is an original podcast from Charles Schwab.

If you enjoy the show, please leave us a rating or review on Apple Podcasts.

Reach out to Mark on X @MarkRiepe with your thoughts on the show.

Follow Financial Decoder on Spotify to comment on episodes.

Important Disclosures

This material is intended for general informational and educational purposes only. This should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned are not suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decisions.

All expressions of opinion are subject to change without notice in reaction to shifting market, economic or political conditions.

Schwab does not provide tax advice. Clients should consult a professional tax advisor for their tax advice needs.

This information is not a specific recommendation, individualized Tax advice. Tax laws are subject to change, either prospectively or retroactively. Where specific advice is necessary or appropriate, individuals should contact their own professional tax and investment advisors or other professionals (CPA, Financial Planner, Investment Manager, Estate Attorney) to help answer questions about specific situations or needs prior to taking any action based upon this information.

Investing involves risk, including loss of principal.

​Past performance is no guarantee of future results.

The Schwab Center for Financial Research is a division of Charles Schwab & Co., Inc.

0426-86DA

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.