Markets were hit with fresh volatility after reports of an attack on the world’s largest natural gas field, sending oil prices sharply higher and raising new concerns about global energy supply. Chuck and Mark break down what this escalation means for crude markets, LNG infrastructure, inflation, and the broader economy—along with a hotter-than-expected Producer Price Index (PPI) report that could complicate the Fed’s path forward.

Todd Lutsky joins for Ask Todd to explain why life estates can create unintended tax consequences and loss of control—especially when compared to irrevocable trusts. He also answers listener questions on revocable trusts, protecting rental properties from the five-year lookback, and navigating the Massachusetts estate tax exemption.

A packed episode covering energy shocks, inflation pressures, and smart estate planning strategies.

On this week’s Ask Todd, Todd Lutsky explains why life estates can create serious tax, creditor, and control problems—and why an irrevocable trust is often the better solution for protecting your home.

He also answers listener questions on updating a revocable trust in your 90s, protecting rental property from the five-year lookback, and what happens when your assets grow beyond the Massachusetts estate tax exemption.

Download Todd’s free guide, The Calculating the Consequences of a Life Estate, to understand the risks before you sign anything.

Mike Armstrong and Marc Fandetti examine whether markets are underestimating growing recession risks.

With oil prices climbing amid escalating tensions involving Iran, historically high equity valuations, stubborn inflation, and renewed concerns in private credit, Mike and Marc ask a critical question: Are investors too complacent?

In this episode, they break down:
• How rising energy prices could slow growth and reignite inflation
• Why elevated stock valuations leave little room for error
• The potential risks building inside private credit markets
• Nvidia’s trillion-dollar AI forecast and what it means for tech leadership
• Why markets remain near record highs despite mounting macro pressures

Plus, a look at tax refund trends and what they signal about the broader economy.

Is this a temporary scare — or the early stages of something bigger?

Mike Armstrong and Marc Fandetti break down the growing economic fallout from the war in Iran as oil prices surge and recession risks climb.

With gas prices jumping sharply and diesel and jet fuel costs rising, Mike and Marc examine:
• How higher energy prices act like a tax on consumers
• Why Moody’s warns a recession may be hard to avoid
• The return of “stagflation” — and what it really means
• Whether the Federal Reserve can look past an oil-driven inflation spike
• How rising fuel costs could ripple through airlines and travel

Plus, they discuss market resilience despite geopolitical risk, concerns about private credit spillovers, and the longer-term implications of global instability.

Stay informed with The Financial Exchange.

Chuck Zodda and Mike Armstrong kick off the week with markets rebounding ahead of a critical Fed meeting — even as oil prices remain volatile and gas prices continue climbing.

In this hour:

• Can Nvidia maintain its dominance as AI shifts from training to inference?
• Why $50,000 cars — and sky-high financing rates — are stretching Americans to the limit
• The “tax bill” hiding inside your 401(k) and how required minimum distributions can surprise retirees
• Why Roth conversions aren’t one-size-fits-all
• What to do if (not if — when) your personal data is exposed in a breach
• The exploding cost of youth sports — and who’s really cashing in

Plus: market updates, Meta’s $27B AI infrastructure push, Micron’s Taiwan expansion, and a look at oil’s latest pullback.

Stay informed with The Financial Exchange.

Chuck Zodda and Mike Armstrong break down the mounting economic fallout from the Iran conflict, now entering its third week, as energy markets tighten and global supply gaps widen.

With the Strait of Hormuz largely restricted, the hosts examine:
• The growing daily oil supply deficit and what it means for prices
• Why spot energy prices are surging beyond futures markets
• Early warning signs of jet fuel and shipping disruptions
• The risk of renewed global supply chain stress
• How rising energy costs could ripple into inflation

Plus, ahead of this week’s Federal Reserve meeting, they discuss how Chair Jay Powell may respond to the twin risks of slowing labor data and a potential supply-driven inflation spike.

Markets may be rallying — but the real economic test could be just beginning.

Stay informed with The Financial Exchange.

Chuck Zodda and Mike Armstrong examine growing cracks in the private credit market — and why investors may be underestimating the broader risks.

With major alternative asset managers facing redemption pressures and some funds limiting withdrawals, the hosts break down what’s happening beneath the surface — and whether this could spill into insurance companies and other parts of the financial system.

Plus:
• Why traditional “safe haven” trades aren’t working
• Oil volatility and ongoing uncertainty around Iran
• Slowing GDP data and what it means for the Fed
• Mortgage rates jumping back above 6.3%
• Rising airfare costs as airlines pass along higher fuel prices
• The push for a $30 minimum wage in New York City

Markets remain near all-time highs — but are investors missing the warning signs?

Stay informed with The Financial Exchange.

Chuck Zodda and Mike Armstrong break down what may already be the largest energy shock in modern history, as the Strait of Hormuz remains effectively blocked and oil markets begin pricing in prolonged disruption.

With roughly 20 million barrels per day normally flowing through the region, traders are now factoring in sustained supply shortages, rising long-term crude contracts, and mounting global deficits.

Chuck and Mike explain: 
• Why futures markets suggest higher oil prices for longer• The growing global supply shortfall — and what SPR releases can (and can’t) fix
• How Southeast Asia could face energy rationing and coal substitution
• Why stocks haven’t panicked — yet
• Slowing GDP data and what it means for the Fed
• Mortgage rates jumping back above 6.3% just as spring housing heats up

Plus, a look at inflation risks, market psychology, and whether investors may be underestimating the downside.

Stay informed with The Financial Exchange.

Markets remain under pressure as oil pushes toward $97 per barrel, Treasury yields climb, and mortgage rates move back above 6.25%.

Chuck Zodda and Mike Armstrong cover:
• Day 13 of the Middle East conflict and continued disruption in the Strait of Hormuz
• Why Asian economies are feeling the strain first
• What rising oil means for gas prices and inflation
• How a higher CPI could impact Social Security COLA in 2027

Plus: Are Americans actually saving enough for retirement? A look at new data — and why the headline may be more optimistic than reality.

Stay informed with The Financial Exchange.