Becoming Work Optional

In this episode of Becoming Work Optional, Matt and Rachael focus on overrated financial planning topics, emphasizing the importance of distinguishing between effective strategies and those driven by marketing hype. Key discussions included the limitations of direct indexing, the misconceptions surrounding dividend investing, and the realities of real estate as a source of passive income. The speakers encouraged a more thoughtful approach to investing, prioritizing total returns and personal financial goals over popular trends.Key Points Discussed:Many financial planning topics are overrated and distract from important strategies.Work optional status emphasizes meaningful projects over traditional retirement.Direct indexing may be more marketing than a beneficial investment strategy.Tax loss harvesting has limitations and may not guarantee better performance.Dividend investing focuses on total return, not just income from dividends.Crypto is often marketed as a financial escape, which can be misleading.Real estate is not truly passive income; it requires significant management effort.Private investments carry high risks and fees; not essential for wealth growth.Traditional retirement and extreme frugality are often overrated concepts.Business expense write-offs are not free money; they simply reduce taxable income.Join Rachael and Matt as they provide practical advice for navigating the complex world of personal finance, helping listeners make informed decisions to secure their financial future.RachaelX/Twitter - @camp_wealthrachaelcampwealth.comMattX/Twitter - @matthew_garasicunrivaledwm.comDisclaimer: This podcast provides general information and discussion about finance, investing, and related subjects. The content provided in this podcast is not intended as investment advice and should not be taken as such. Always seek the advice of a professional or conduct your own research before making financial decisions.Rachael Camp offers advisory Services are offered through Creative Financial Designs, Inc., a Registered Investment Adviser, and Securities are offered through cfd Investments, Inc., a Registered Broker/Dealer, Member FINRA & SIPC, 2704 S. Goyer Rd., Kokomo, IN 46902. 765-453-9600.Neither Camp Wealth or Unrivaled Wealth Management are affiliated with the CFD companies or each other.

In this episode of Becoming Work Optional, Matt and Rachael focus on the benefits and considerations of electing S-Corp status for business owners, particularly regarding self-employment tax savings. Key points included the importance of determining a reasonable salary, the implications of QBI deductions, and the necessity of maintaining clean financial records. They emphasize consulting with professionals to navigate the complexities of S-Corp elections and ensure compliance with tax laws.Key Points Discussed:S-Corp election can significantly reduce self-employment tax for profitable business owners.S-Corp is a tax status, not an entity type; requires LLC or corporation first.Electing S-Corp adds payroll and separate tax return requirements.Reasonable salary must be justified to avoid IRS penalties.QBI deduction and retirement contributions impact tax savings and salary decisions.Commingling personal and business funds can lead to legal issues.Some states may not favor S-Corp status; check local regulations.Professional guidance is essential for navigating S-Corp complexities and compliance.Join Rachael and Matt as they provide practical advice for navigating the complex world of personal finance, helping listeners make informed decisions to secure their financial future.RachaelX/Twitter - @camp_wealthrachaelcampwealth.comMattX/Twitter - @matthew_garasicunrivaledwm.comDisclaimer: This podcast provides general information and discussion about finance, investing, and related subjects. The content provided in this podcast is not intended as investment advice and should not be taken as such. Always seek the advice of a professional or conduct your own research before making financial decisions.Rachael Camp offers advisory Services are offered through Creative Financial Designs, Inc., a Registered Investment Adviser, and Securities are offered through cfd Investments, Inc., a Registered Broker/Dealer, Member FINRA & SIPC, 2704 S. Goyer Rd., Kokomo, IN 46902. 765-453-9600.Neither Camp Wealth or Unrivaled Wealth Management are affiliated with the CFD companies or each other.

In this episode of Becoming Work Optional, Matt and Rachael interview Matt Chiappetta, a CPA turned solopreneur, shares insights on his journey to achieving work optional status while emphasizing the importance of flexibility and lifestyle goals over revenue targets. He discussed the mental hurdles he faced before starting his business and the value of hiring a coach to navigate early challenges. The conversation highlighted the significance of taking action, maintaining a balanced approach to work and life, and the evolving definition of wealth and success.Key Points Discussed:Importance of flexibility in solopreneurship and work optional lifestyle.Mental hurdles faced before transitioning to solopreneurship.Value of hiring a business coach early on.Balancing lifestyle goals with business growth.Challenges of managing time during tax season.Common mistakes solopreneurs make regarding pricing and hiring.Importance of separating personal and business finances.Revenue goals structured in phases for financial planning.Emphasis on action over analysis paralysis in entrepreneurship.The significance of physical health for mental clarity and productivity.Join Rachael and Matt as they provide practical advice for navigating the complex world of personal finance, helping listeners make informed decisions to secure their financial future. Matt ChiappettaX/Twitter - @mattchiacpamattchia.cpaRachael X/Twitter - @camp_wealth rachaelcampwealth.com Matt X/Twitter - @matthew_garasic unrivaledwm.com Disclaimer: This podcast provides general information and discussion about finance, investing, and related subjects. The content provided in this podcast is not intended as investment advice and should not be taken as such. Always seek the advice of a professional or conduct your own research before making financial decisions. Rachael Camp offers advisory Services are offered through Creative Financial Designs, Inc., a Registered Investment Adviser, and Securities are offered through cfd Investments, Inc., a Registered Broker/Dealer, Member FINRA & SIPC, 2704 S. Goyer Rd., Kokomo, IN 46902. 765-453-9600. Neither Camp Wealth or Unrivaled Wealth Management are affiliated with the CFD companies or each other.

In this episode of Becoming Work Optional, Matt and Rachael interview Aleksandr Volodarsky, CEO of Lemon.io. They discuss his journey growing up in the Soviet Union to building a successful tech company. The conversation highlights the importance of focusing on profitability, inspired by the book "Profit First," and how this approach has stabilized his business. Additionally, Volodarsky shares insights on entrepreneurship, personal finance, and the challenges of building in public.Key Points Discussed:Work optional status and pursuing passion projects over traditional retirement.CEO of Lemon.io, building a profitable company.Prioritizing profit before expenses for sustainable growth.Money habits shaped by Soviet Union upbringing.Entrepreneurship challenges and overcoming early business failures.Lemon.io: marketplace connecting tech companies with vetted engineers.Importance of sales and how crucial the skill is for founders to develop.Managing expenses to maintain profitability.Building in public: transparency in business growth and challenges.Balancing business expenses with personal financial goals.Join Rachael and Matt as they provide practical advice for navigating the complex world of personal finance, helping listeners make informed decisions to secure their financial future.Aleksandr Volodarsky X/Twitter - @volodarik lemon.io RachaelX/Twitter - @camp_wealth rachaelcampwealth.com Matt X/Twitter - @matthew_garasic unrivaledwm.comProfit First: Transform Your Business from a Cash-Eating Monster to a Money-Making Machine Book by Mike MichalowiczDisclaimer: This podcast provides general information and discussion about finance, investing, and related subjects. The content provided in this podcast is not intended as investment advice and should not be taken as such. Always seek the advice of a professional or conduct your own research before making financial decisions. Rachael Camp offers advisory Services are offered through Creative Financial Designs, Inc., a Registered Investment Adviser, and Securities are offered through cfd Investments, Inc., a Registered Broker/Dealer, Member FINRA & SIPC, 2704 S. Goyer Rd., Kokomo, IN 46902. 765-453-9600. Neither Camp Wealth or Unrivaled Wealth Management are affiliated with the CFD companies or each other.

In this episode of Becoming Work Optional, Matt and Rachael focus on proactive tax planning strategies for business owners to optimize their financial outcomes in 2025. Key topics include the importance of making estimated quarterly tax payments, maintaining organized financial records, and exploring retirement account options like solo 401(k)s and S-Corp elections to reduce self-employment taxes. They emphasize the need for professional guidance to navigate complex tax regulations and maximize deductions while ensuring compliance.Key Points Discussed:Importance of proactive tax planning for business owners to avoid year-end catch-up.Start the year with revenue and expense projections to guide estimated quarterly tax payments.Keeping books organized is crucial for tracking finances and preparing for audits.Retirement account contributions, including IRAs and solo 401(k)s, can provide tax advantages.S-Corp election can reduce self-employment taxes by separating salary and distributions.Reasonable salary determination is essential for S-Corp owners to avoid IRS scrutiny.Hiring family members, like spouses and children, can provide tax benefits if justified.Home office deductions are available for business owners with dedicated workspaces.Pass-through entity tax strategies can help reduce taxable income at the entity level.Staying informed about compliance requirements, such as beneficial ownership filings, is essential for business owners.Join Rachael and Matt as they provide practical advice for navigating the complex world of personal finance, helping listeners make informed decisions to secure their financial future.RachaelX/Twitter - @camp_wealthrachaelcampwealth.comMattX/Twitter - @matthew_garasicunrivaledwm.comDisclaimer: This podcast provides general information and discussion about finance, investing, and related subjects. The content provided in this podcast is not intended as investment advice and should not be taken as such. Always seek the advice of a professional or conduct your own research before making financial decisions.Rachael Camp offers advisory Services are offered through Creative Financial Designs, Inc., a Registered Investment Adviser, and Securities are offered through cfd Investments, Inc., a Registered Broker/Dealer, Member FINRA & SIPC, 2704 S. Goyer Rd., Kokomo, IN 46902. 765-453-9600.Neither Camp Wealth or Unrivaled Wealth Management are affiliated with the CFD companies or each other.

In this episode of Becoming Work Optional, Matt and Rachael interview Justin Peters where they discuss the concept of achieving work optional status, focusing on the balance between financial independence and pursuing meaningful work. Justin shares his journey of side hustles, entrepreneurship, and the importance of consistency and risk-taking in personal and professional growth. Matt, Rachael and Justin emphasize the value of experimentation in one's 20s and the significance of creating white space for reflection and problem-solving in entrepreneurship. Key Points Discussed:The importance of using your 20s for exploration, experimentation, and spontaneity rather than focusing solely on career and life milestones. The concept of reaching a point where work is optional, allowing individuals to pursue projects that excite them rather than working solely for financial reasons. Justin discusses balancing a full-time job with side hustles, including marketplace flipping and running a podcast agency. Justin's perspective on reaching Coast FI, where one no longer needs to save aggressively for retirement, allowing for more risk-taking and focus on impact work. Justin's transition from a podcast listener to a creator, and how it became a significant part of his career during a sabbatical. The value of sales skills and networking, which Justin developed from a young age and throughout his career. Discussion on the relevance of college majors and the importance of building high-income skills and networks during college. The role of health and consistent habits, such as Justin's running streak, in supporting entrepreneurship and personal growth. The importance of having white space in one's schedule to think creatively and solve problems effectively. Encouragement to take risks, especially when young, as the ability to recover from failures is greater.Join Rachael and Matt as they provide practical advice for navigating the complex world of personal finance, helping listeners make informed decisions to secure their financial future.Justin Peters X/Twitter & Instagram - @justinleepeters tsirpodcast.com Rachael X/Twitter - @camp_wealth rachaelcampwealth.com Matt X/Twitter - @matthew_garasic unrivaledwm.comDisclaimer: This podcast provides general information and discussion about finance, investing, and related subjects. The content provided in this podcast is not intended as investment advice and should not be taken as such. Always seek the advice of a professional or conduct your own research before making financial decisions. Rachael Camp offers advisory Services are offered through Creative Financial Designs, Inc., a Registered Investment Adviser, and Securities are offered through cfd Investments, Inc., a Registered Broker/Dealer, Member FINRA & SIPC, 2704 S. Goyer Rd., Kokomo, IN 46902. 765-453-9600. Neither Camp Wealth or Unrivaled Wealth Management are affiliated with the CFD companies or each other.

In this episode of Becoming Work Optional, Matt and Rachael interview Carl Landau, an entrepreneur who has built and sold multiple businesses and now embraces a lifestyle of "unretirement" through podcasting and travel. Carl shares insights on the importance of pursuing passions beyond traditional retirement, emphasizing that many people struggle with identity and purpose after leaving their careers. The discussion highlights the value of planning for retirement and the role of financial advisors in helping individuals transition to a fulfilling post-work life.Key Points Discussed:They emphasize the concept of achieving a work optional status, where individuals can choose to work on projects that excite them rather than for financial necessity.Carl shares his experiences of building and selling three businesses and his current focus on podcasting and travel.Carl discusses his view of "unretirement," where he continues to engage in meaningful work rather than fully retiring.Carl reflects on the challenges and joys of entrepreneurship, including the importance of recognizing when to step back from a business.The importance of consulting with a financial advisor early to assess retirement readiness and financial security is highlighted.Many individuals struggle with their identity after retiring from a long career, emphasizing the need for meaningful activities post-retirement.They discuss travel as a significant area of spending and enjoyment in retirement, with Carl mentioning his travel experiences linked to his podcast.Carl shares how his dyslexia has shaped his entrepreneurial journey, allowing him to develop unique problem-solving skills.The conversation touches on the importance of learning from failures and recognizing market opportunities rather than being the first to market.The podcast stresses the need for proactive planning for retirement, encouraging listeners to think about their post-work life well in advance.Join Rachael and Matt as they provide practical advice for navigating the complex world of personal finance, helping listeners make informed decisions to secure their financial future.Carl LandauFacebook - @IUsedToBeSomebodyPodcastPodcast - I Used To Be Somebodypickleballmediahq.comRachaelX/Twitter - @camp_wealthrachaelcampwealth.comMattX/Twitter - @matthew_garasicunrivaledwm.comDisclaimer: This podcast provides general information and discussion about finance, investing, and related subjects. The content provided in this podcast is not intended as investment advice and should not be taken as such. Always seek the advice of a professional or conduct your own research before making financial decisions.Rachael Camp offers advisory Services are offered through Creative Financial Designs, Inc., a Registered Investment Adviser, and Securities are offered through cfd Investments, Inc., a Registered Broker/Dealer, Member FINRA & SIPC, 2704 S. Goyer Rd., Kokomo, IN 46902. 765-453-9600.Neither Camp Wealth or Unrivaled Wealth Management are affiliated with the CFD companies or each other.

In this episode of Becoming Work Optional, Matt and Rachael interview Ankur Nagpal, a successful entrepreneur who shares insights on achieving work-optional status and the importance of tax savings for business owners. Ankur discusses his journey to financial success, the significance of a healthy relationship with money, and various tax strategies, including the benefits of a Solo 401k and charitable giving. The conversation emphasizes the value of proactive tax planning and the mindset shift from scarcity to abundance for entrepreneurs.Key Points Discussed: Ankur achieved significant financial success early, selling his company Teachable for over $100 million and achieving work-optional status by age 31. A major focus of the episode is on strategies for business owners to save on taxes, highlighting the advantages of the U.S. tax code for entrepreneurs. The Solo 401(k) is presented as a powerful retirement account option for solo entrepreneurs, allowing for high contribution limits and tax deductions. The discussion includes the benefits of electing S-Corp status for tax savings, particularly regarding self-employment taxes and reasonable compensation. Charitable contributions can be optimized through strategies like donating appreciated assets and using donor-advised funds for tax efficiency. The QBI (Qualified Business Income) deduction provides a 20% tax deduction for business owners, with specific rules for high earners to maximize benefits. The podcast stresses the need for professional advice in tax planning, especially for complex strategies like cash balance plans and S-Corp elections. Ankur discusses the importance of maintaining a healthy relationship with money, viewing it as a tool for freedom rather than a measure of self-worth. The conversation touches on the balance between work and personal well-being, emphasizing the importance of health and lifestyle choices in the entrepreneurial journey.Join Rachael and Matt as they provide practical advice for navigating the complex world of personal finance, helping listeners make informed decisions to secure their financial future.Ankur Nagpal X/Twitter - @ankurnagpal Instagram - @ankurna carry.comRachael X/Twitter - @camp_wealth rachaelcampwealth.com Matt X/Twitter - @matthew_garasic unrivaledwm.comDisclaimer: This podcast provides general information and discussion about finance, investing, and related subjects. The content provided in this podcast is not intended as investment advice and should not be taken as such. Always seek the advice of a professional or conduct your own research before making financial decisions. Rachael Camp offers advisory Services are offered through Creative Financial Designs, Inc., a Registered Investment Adviser, and Securities are offered through cfd Investments, Inc., a Registered Broker/Dealer, Member FINRA & SIPC, 2704 S. Goyer Rd., Kokomo, IN 46902. 765-453-9600. Neither Camp Wealth or Unrivaled Wealth Management are affiliated with the CFD companies or each other.

In this episode of Becoming Work Optional, Matt and Rachael interview Dr. Brad Klontz and Adrian Brambila, discussing their new book "Start Thinking Rich," which explores 21 harsh truths about money. They cover their personal financial journeys from humble beginnings to achieving financial freedom, emphasizing the importance of mindset and strategic spending. They also discussed the concept of retirement, advocating for a life of purpose and financial freedom rather than traditional retirement.Key Points Discussed:"Start Thinking Rich" by Dr. Brad Klontz and Adrian Brambila covers 21 harsh truths about money, aiming to shake up traditional financial advice.The book emphasizes that beliefs about money can hinder financial success, advocating for a mindset shift.Both started from humble beginnings and became financially free through hustle and strategic financial decisions.They discussed the balance between saving aggressively and learning to spend wisely, focusing on experiences over materialism.Both authors criticize traditional retirement, advocating for a life with purpose and ongoing engagement rather than idleness.They emphasize finding work that serves a purpose and the importance of maintaining a sense of purpose throughout life.Brad and Adrian also discuss the importance of keeping some hobbies separate from work to maintain personal enjoyment.The impact of one's social circle on financial habits was highlighted, suggesting the need for a supportive environment.Join Rachael and Matt as they provide practical advice for navigating the complex world of personal finance, helping listeners make informed decisions to secure their financial future. Get "Start Thinking Rich" by Dr. Brad Klontz and Adrian Brambilastartthinkingrich.com/bwoDr. Brad KlontzX/Twitter, Instagram, YouTube, TikTok - @DrBradKlontzbradklontz.comAdrian BrambilaX/Twitter, Instagram, YouTube - @brambilabongTikTok - @adrianbrambilaadrianbrambila.comRachaelX/Twitter - @camp_wealthInstagram, YouTube - @campwealthrachaelcampwealth.comMattX/Twitter, Instagram - @matthew_garasicunrivaledwm.comDisclaimer: This podcast provides general information and discussion about finance, investing, and related subjects. The content provided in this podcast is not intended as investment advice and should not be taken as such. Always seek the advice of a professional or conduct your own research before making financial decisions.Rachael Camp offers advisory Services are offered through Creative Financial Designs, Inc., a Registered Investment Adviser, and Securities are offered through cfd Investments, Inc., a Registered Broker/Dealer, Member FINRA & SIPC, 2704 S. Goyer Rd., Kokomo, IN 46902. 765-453-9600.Neither Camp Wealth or Unrivaled Wealth Management are affiliated with the CFD companies or each other.

In this episode of Becoming Work Optional, Matt and Rachael interview Liz Giorgi, Emmy Award winner and CEO of Soona, discussing her entrepreneurial journey, emphasizing the importance of financial planning, resilience, and storytelling in business. She shared insights from her experiences with her first company, Mighteor, and the creation of Soona, highlighting the impact of providing affordable, professional content for brands. Liz also stressed the significance of setting personal finance goals and the value of celebrating successes along the way.Key Points Discussed:Entrepreneurship is difficult but can lead to significant financial freedom and personal fulfillment.Liz grew up in Northern Minnesota in a mining town, which shaped her perception of money and community reliance.Liz showed entrepreneurial tendencies from a young age, selling wild blueberries and raspberries and working at her families small business.Initially pursuing a career in television broadcasting, Liz found it unstable but valuable for networking and skill development.Liz founded her first company, Mighteor, leveraging her expertise in production and online advertising.Liz made early financial mistakes, such as not paying herself a salary, which she corrected through education at Babson College.Selling Mighteor for close to a million dollars, Liz prioritized her time and future aspirations over a higher sale price.Liz reinvested half of her earnings from Mighteor into her new venture, Soona, a same-day photo and video service for brands.Liz is a passionate advocate for gender equity in venture financing and supports women in entrepreneurship. Liz emphasizes the importance of setting specific financial goals and aligning them with personal values and aspirations.Join Rachael and Matt as they provide practical advice for navigating the complex world of personal finance, helping listeners make informed decisions to secure their financial future.LizX/Twitter - @lizgiorgisoona.coRachaelX/Twitter - @camp_wealthrachaelcampwealth.comMattX/Twitter - @matthew_garasicunrivaledwm.comDisclaimer: This podcast provides general information and discussion about finance, investing, and related subjects. The content provided in this podcast is not intended as investment advice and should not be taken as such. Always seek the advice of a professional or conduct your own research before making financial decisions.Rachael Camp offers advisory Services are offered through Creative Financial Designs, Inc., a Registered Investment Adviser, and Securities are offered through cfd Investments, Inc., a Registered Broker/Dealer, Member FINRA & SIPC, 2704 S. Goyer Rd., Kokomo, IN 46902. 765-453-9600.Neither Camp Wealth or Unrivaled Wealth Management are affiliated with the CFD companies or each other.

In this episode of Becoming Work Optional, Matt and Rachael discuss what to do when receiving a large bonus or windfall. They emphasize the importance of tax planning and working with a team of professionals, including a CPA and estate attorney. They also highlight the need to consider personal values and goals when deciding how to allocate the funds, and to take time to celebrate and reflect on the purpose going forward.Key Points Discussed:When receiving a large bonus or windfall, it is important to plan ahead for taxes and allocate a portion of the money for taxes.It is advisable to wait and take time to digest the windfall before making any hasty decisions or investments.Before taking action, it is essential to consider your values and goals to determine how you want to use the money to make an impact.Building a team of professionals, including financial advisors, CPAs, attorneys, and therapists, can help navigate the complexities of managing a large windfall.Setting aside enough money for taxes and establishing work optional status can provide financial security and peace of mind.Working with a proactive CPA can help identify tax strategies, such as donor-advised funds or tax loss harvesting, to mitigate tax liabilities.Estate planning considerations may arise for significant wealth events, and it may be necessary to establish trusts or other measures to protect and pass on assets efficiently.It is important to evaluate the return on hassle when considering complex investments solely for tax purposes, as simplicity and alignment with personal values should also be considered.Celebrating the windfall and taking time to enjoy it is essential, as it can be a life-changing event. Reflecting on the purpose and finding meaning beyond financial success is crucial for long-term happiness.Join Rachael and Matt as they provide practical advice for navigating the complex world of personal finance, helping listeners make informed decisions to secure their financial future.Rachael X/Twitter - @camp_wealthrachaelcampwealth.comMatt X/Twitter - @matthew_garasicunrivaledwm.comDisclaimer: This podcast provides general information and discussion about finance, investing, and related subjects. The content provided in this podcast is not intended as investment advice and should not be taken as such. Always seek the advice of a professional or conduct your own research before making financial decisions.Rachael Camp offers advisory Services are offered through Creative Financial Designs, Inc., a Registered Investment Adviser, and Securities are offered through cfd Investments, Inc., a Registered Broker/Dealer, Member FINRA & SIPC, 2704 S. Goyer Rd., Kokomo, IN 46902. 765-453-9600.Neither Camp Wealth or Unrivaled Wealth Management are affiliated with the CFD companies or each other.

In this episode of Becoming Work Optional, Matt and Rachael delve into the nuances of dividend investing, discussing both its advantages and tax implications. They break down the concept of dividends, including the distinction between qualified and non-qualified dividends, and explore how stock holding periods influence taxes. The conversation also covers the relationship between dividends and share prices, the limitations of focusing solely on dividends, and the importance of a diversified investment strategy. Matt and Rachael also weigh the merits of dividend investing against capital appreciation and highlight common misconceptions and risks associated with dividend investing.Key Points Discussed:Understanding Dividends: A dividend is a company's distribution of profits to shareholders. Qualified dividends are taxed at long-term capital gains rates, while non-qualified dividends are taxed as ordinary income. Dividends and Share Prices: Dividends are not 'free money.' Dividend Investing Strategies: Investing in large-cap value companies that pay dividends can limit the investment universe. High dividend yields can be misleading as they may reflect a declining share price rather than a solid investment.Limitations of Dividend Investing: Solely focusing on dividends may provide an incomplete picture of a company's performance. Taxes on dividends can be burdensome. Total return, which includes both price appreciation and dividends, is a more comprehensive measure of investment performance.Dividend Investing vs. Capital Appreciation: Diversification remains crucial, and investment decisions should not be based solely on dividend policies.Risks and Misconceptions: A high dividend yield does not necessarily equate to a good investment and could deplete the portfolio if unsustainable. Dividend stocks can still face significant volatility. Emphasizing total return and maintaining diversification is key to managing risk and achieving overall investment success.Connect with us:Rachael X/Twitter - @camp_wealthrachaelcampwealth.comMatt X/Twitter - @matthew_garasicunrivaledwm.comDisclaimer: This podcast provides general information and discussion about finance, investing, and related subjects. The content provided in this podcast is not intended as investment advice and should not be taken as such. Always seek the advice of a professional or conduct your own research before making financial decisions. Rachael Camp offers advisory Services are offered through Creative Financial Designs, Inc., a Registered Investment Adviser, and Securities are offered through cfd Investments, Inc., a Registered Broker/Dealer, Member FINRA & SIPC, 2704 S. Goyer Rd., Kokomo, IN 46902. 765-453-9600. Neither Camp Wealth or Unrivaled Wealth Management are affiliated with the CFD companies or each other.

In this episode, Rachael interviews Ron "Omani" Carson where he shares his journey from a challenging childhood in Nebraska to becoming a successful financial advisor and business owner, emphasizing the importance of persistence and the shift from a scarcity to an abundance mindset. He discussed the transformative impact of therapy and psychedelic experiences on his personal and professional life. Omani also highlighted his commitment to philanthropy and conscious leadership, including his new venture, Omya, aimed at promoting holistic well-being and social justice.Key Points Discussed:Mr. Carson grew up in Nebraska, where his family were farmers, and he faced financial struggles.Omani's childhood experiences with poverty and family bankruptcy instilled a fear and scarcity mindset.Omani struggled for six years in his financial advisory career before achieving significant success.A pivotal moment came when he sought therapy and psychedelic therapy, leading to a mindset shift from scarcity to abundance.Omani's relentless work ethic initially led to personal sacrifices, including limited time with family.Omani and his wife are deeply involved in charitable activities, focusing on issues like clean water, food security, and end-of-life dreams for the elderly.Mr. Carson is a proponent of conscious capitalism, aiming to create a positive impact through his business and personal efforts.Mr. Carson is launching a new business, Omya, focused on holistic living and conscious leadership.Mr. Carson aims to build a 100-year company and continues to set ambitious goals, driven by a desire to make a significant social impact.Join Rachael and Matt as they provide practical advice for navigating the complex world of personal finance, helping listeners make informed decisions to secure their financial future.Rachael X/Twitter - @camp_wealthrachaelcampwealth.comMatt X/Twitter - @matthew_garasicunrivaledwm.comDisclaimer: This podcast provides general information and discussion about finance, investing, and related subjects. The content provided in this podcast is not intended as investment advice and should not be taken as such. Always seek the advice of a professional or conduct your own research before making financial decisions.Rachael Camp offers advisory Services are offered through Creative Financial Designs, Inc., a Registered Investment Adviser, and Securities are offered through cfd Investments, Inc., a Registered Broker/Dealer, Member FINRA & SIPC, 2704 S. Goyer Rd., Kokomo, IN 46902. 765-453-9600.Neither Camp Wealth or Unrivaled Wealth Management are affiliated with the CFD companies or each other.

In this episode, Rachael and Matt discuss the mindset shift required when transitioning to a fully work optional status. They emphasize the importance of shifting focus from money to impact work and finding fulfillment in creating and contributing to the world. They also encourage listeners to challenge traditional work constructs and create a schedule that aligns with their natural rhythms and passions.Key Points Discussed:The shift to becoming work optional involves shifting your mindset away from working for money and towards impact work.It can be difficult to make this shift, especially for those who have been focused on earning a paycheck for most of their lives.Shifting to impact work requires taking on more risk and being comfortable with not relying on a steady paycheck.Exploring your hobbies and deeper values can provide a starting point for identifying impact work that aligns with your interests.It's important to focus on your internal scorecard and what brings you fulfillment, rather than solely chasing external markers of success.The goal of work optional status is not to retire and relax, but to continue working on things that align with your personal beliefs and values.It's important to figure out your ideal day and schedule, breaking away from the traditional nine-to-five pattern.Taking breaks and allowing for rest and rejuvenation can lead to increased productivity and focus.Challenging and questioning various aspects of your life can help in making the shift to work optional status.Join Rachael and Matt as they provide practical advice for navigating the complex world of personal finance, helping listeners make informed decisions to secure their financial future.Rachael X/Twitter - @camp_wealthrachaelcampwealth.comMatt X/Twitter - @matthew_garasicunrivaledwm.comDisclaimer: This podcast provides general information and discussion about finance, investing, and related subjects. The content provided in this podcast is not intended as investment advice and should not be taken as such. Always seek the advice of a professional or conduct your own research before making financial decisions.Rachael Camp offers advisory Services are offered through Creative Financial Designs, Inc., a Registered Investment Adviser, and Securities are offered through cfd Investments, Inc., a Registered Broker/Dealer, Member FINRA & SIPC, 2704 S. Goyer Rd., Kokomo, IN 46902. 765-453-9600.Neither Camp Wealth or Unrivaled Wealth Management are affiliated with the CFD companies or each other.

Episode Summary:In this episode of the 'Becoming Work Optional' podcast, Matt and Rachael delve into the intricacies of employee stock options, exploring both their benefits and complexities. They provide a comprehensive overview of how stock options work, including the critical differences between non-qualified and incentive stock options, the importance of vesting, and the role of stock performance. The episode wraps up with insights into cost basis, tax consequences, and the importance of diversification in managing company stock.Key Points Discussed:Overview of Stock Options: Matt and Rachael explain stock options as a form of equity compensation and the need for thorough organization for tax and strategic planning.Types of Stock Options: Differentiation between non-qualified stock options (NQSOs) and incentive stock options (ISOs), including their tax treatment—taxed upon buying (NQSOs) versus selling (ISOs).Stock Options Pricing and Vesting: Explanation of how stock options are priced and the significance of the vesting schedule.Tax Implications and Liquidity: Discussion on the tax impacts of exercising stock options and the differences in liquidity between private and public companies. Public companies often offer cashless exercises, simplifying access for employees.Cost Basis and Taxes: Exploration of the cost basis concept in stock transactions and its tax implications. Advice on managing company stock considering tax consequences and the importance of diversification.Financial Strategy and Risk Management: Emphasis on setting diversification limits, evaluating the overall financial strategy, and managing risk tolerance when deciding whether to sell stock options.Connect with us:Rachael X/Twitter - @camp_wealthrachaelcampwealth.comMatt X/Twitter - @matthew_garasicunrivaledwm.comDisclaimer: This podcast provides general information and discussion about finance, investing, and related subjects. The content provided in this podcast is not intended as investment advice and should not be taken as such. Always seek the advice of a professional or conduct your own research before making financial decisions. Rachael Camp offers advisory Services are offered through Creative Financial Designs, Inc., a Registered Investment Adviser, and Securities are offered through cfd Investments, Inc., a Registered Broker/Dealer, Member FINRA & SIPC, 2704 S. Goyer Rd., Kokomo, IN 46902. 765-453-9600. Neither Camp Wealth or Unrivaled Wealth Management are affiliated with the CFD companies or each other.

In this episode, Matt and Rachael discuss the concept of generational wealth and the goals that clients have for helping their children financially. They explore different tools and strategies, such as 529 accounts, UPMA accounts, brokerage accounts, and custodial Roth accounts, that can be used to pass on wealth to the next generation. They also touch on the importance of educating children about money and the potential downsides of generational wealth, such as lack of motivation and the need for careful estate planning.Key Points Discussed:Many clients have the goal of generational wealth and want to help their children financially.Understanding how you want to help your children is the first step, whether it's covering college expenses, providing a head start in life, or supporting their career choices.Different types of accounts, such as 529 plans, UPMA accounts, brokerage accounts, and custodial Roth accounts, can be used to build generational wealth.It's important to consider the tax implications, control, and restrictions of each account when deciding which ones to use.Lack of education about money is a common reason why generational wealth is destroyed, so it's important to educate children about budgeting, saving, and investing.Trusts and estate planning can be used to protect and preserve generational wealth, especially in high net worth situations.Being secretive about the extent of generational wealth and waiting to inform children until they have established their own careers and financial habits can help maintain their motivation and prevent entitlement.Lifetime gifting and transferring assets while still alive can be a beneficial strategy to see the impact of generational wealth and ensure it is used when most needed.It's important to balance providing financial support with allowing children to experience some hardship and develop their own financial responsibility.Join Rachael and Matt as they provide practical advice for navigating the complex world of personal finance, helping listeners make informed decisions to secure their financial future.Rachael X/Twitter - @camp_wealthrachaelcampwealth.comMatt X/Twitter - @matthew_garasicunrivaledwm.comDisclaimer: This podcast provides general information and discussion about finance, investing, and related subjects. The content provided in this podcast is not intended as investment advice and should not be taken as such. Always seek the advice of a professional or conduct your own research before making financial decisions.Rachael Camp offers advisory Services are offered through Creative Financial Designs, Inc., a Registered Investment Adviser, and Securities are offered through cfd Investments, Inc., a Registered Broker/Dealer, Member FINRA & SIPC, 2704 S. Goyer Rd., Kokomo, IN 46902. 765-453-9600.Neither Camp Wealth or Unrivaled Wealth Management are affiliated with the CFD companies or each other.

In this episode, Rachael and Matt discuss the important steps and expectations to consider when choosing a financial advisor. Whether you're looking for comprehensive financial planning or need help with a specific issue, understanding what to look for can help you make an informed decision. We cover key topics such as assessing rapport, the importance of transparency, and ensuring proactive communication from your advisor.Key Points Discussed:Know what you're looking forStep back and consider if you're really looking for someone to manage your complete financial situation or if you're only looking to solve a specific problem (e.g., “I'm paying too much in taxes”).Do your due diligenceResearch the advisor to learn everything you can about what they do, their process, and how they charge. This helps avoid an unwanted sales pitch.Assess rapportAn introductory meeting is all about getting a feel for the person and learning more about their service.Expect more than just investment managementLook for comprehensive financial planning, coordinating every element of your financial life (investments, cash flow/savings, tax, estate, insurance, and any other part of life that your money touches).Solutions instead of productsNo investment product replaces a financial plan.TransparencyKnow what you're paying.Know how your advisor gets paid.Understand conflicts of interest.EducationThe best advisor will help you understand your plan.You should be able to explain your plan to someone else.Proactive CommunicationYou should hear from your advisor more than once a year.ThoroughnessYou can't expect exceptional results with mediocre inputs.Onboarding should take time because there's so much to consider.Fiduciary duty at all timesUnderstand the difference between fiduciary duty when making investment recommendations vs. fiduciary duty at all times.Join Rachael and Matt as they provide practical advice for navigating the complex world of personal finance, helping listeners make informed decisions to secure their financial future.Rachael X/Twitter - @camp_wealthrachaelcampwealth.comMatt X/Twitter - @matthew_garasicunrivaledwm.comDisclaimer: This podcast provides general information and discussion about finance, investing, and related subjects. The content provided in this podcast is not intended as investment advice and should not be taken as such. Always seek the advice of a professional or conduct your own research before making financial decisions. Rachael Camp offers advisory Services are offered through Creative Financial Designs, Inc., a Registered Investment Adviser, and Securities are offered through cfd Investments, Inc., a Registered Broker/Dealer, Member FINRA & SIPC, 2704 S. Goyer Rd., Kokomo, IN 46902. 765-453-9600. Neither Camp Wealth or Unrivaled Wealth Management are affiliated with the CFD companies or each other.

In this episode Rachael and Matt discuss the traditional versus Roth debate when it comes to retirement contributions. They emphasized the importance of considering individual variables such as tax brackets, income changes, spending habits, and future tax implications. They also highlighted the value of timing strategies and Roth conversions in optimizing tax savings.Key Points Discussed:Traditional IRAs provide a tax deduction in the current year, grow tax-deferred, and are taxed upon withdrawal in retirement.Roth IRAs require you to pay taxes in the current year, but offer tax-free growth and tax-free withdrawals in retirement.The goal is to pay the least amount of tax, taking advantage of lower tax brackets.If your tax rate stays the same, there is no difference between traditional and Roth.Consider variables such as changes in tax laws, marital status, state income tax, spending habits, retirement age, and sources of retirement income.A rule of thumb is to contribute to Roth if you are in the 10-12% tax bracket, traditional or Roth in the 22-24% bracket, and traditional if you are in the 32% bracket or higher.Customize your approach based on your career stage, spending habits, and potential for future income changes.Pay attention to big swings in income and consider timing strategies for traditional or Roth contributions.Consider the impact of RMDs, Medicare premiums, and Social Security taxation in retirement.Many individuals are forced into a mix of traditional and Roth due to income limitations and employer plans.Roth conversions in retirement can be beneficial, especially for high earners or those with large brokerage accounts.It's important to customize your strategy based on your individual situation and seek professional advice.Connect with us:RachaelX/Twitter - @camp_wealthrachaelcampwealth.comMattX/Twitter - @matthew_garasicunrivaledwm.comDisclaimer: This podcast provides general information and discussion about finance, investing, and related subjects. The content provided in this podcast is not intended as investment advice and should not be taken as such. Always seek the advice of a professional or conduct your own research before making financial decisions.Rachael Camp offers advisory Services are offered through Creative Financial Designs, Inc., a Registered Investment Adviser, and Securities are offered through cfd Investments, Inc., a Registered Broker/Dealer, Member FINRA & SIPC, 2704 S. Goyer Rd., Kokomo, IN 46902. 765-453-9600.Neither Camp Wealth or Unrivaled Wealth Management are affiliated with the CFD companies or each other.

In this episode, Rachael and Matt tackle common financial mistakes and delve into the complexities of insurance coverage, investment strategies, and tax planning. From the misallocation of savings to the risks of speculative investments, they offer valuable insights into optimizing financial decisions and avoiding pitfalls.Key Points Discussed:Misallocation of savings and poor risk management stemming from undefined financial goals.Importance of adequate insurance coverage, particularly for disability insurance.Risks of market timing and speculative investments, emphasizing the need for a balanced portfolio.Importance of well-planned investment strategies and proactive tax planning.Significance of tax efficiency and cost minimization in investment returns.Strategies for optimizing savings, including utilizing employer benefits.Importance of understanding traditional versus Roth savings options and their implications for long-term financial goals.Join Rachael and Matt as they provide practical advice for navigating the complex world of personal finance, helping listeners make informed decisions to secure their financial future.Rachael X/Twitter - @camp_wealthrachaelcampwealth.comMatt X/Twitter - @matthew_garasicunrivaledwm.comDisclaimer: This podcast provides general information and discussion about finance, investing, and related subjects. The content provided in this podcast is not intended as investment advice and should not be taken as such. Always seek the advice of a professional or conduct your own research before making financial decisions. Rachael Camp offers advisory Services are offered through Creative Financial Designs, Inc., a Registered Investment Adviser, and Securities are offered through cfd Investments, Inc., a Registered Broker/Dealer, Member FINRA & SIPC, 2704 S. Goyer Rd., Kokomo, IN 46902. 765-453-9600. Neither Camp Wealth or Unrivaled Wealth Management are affiliated with the CFD companies or each other.

Episode Summary: In this episode of "Becoming Work Optional," hosts Rachael and Matt discussed the concept of becoming work optional, emphasizing the importance of giving up status games, living below one's means, and avoiding bad debt. They also highlighted the benefits of this lifestyle, such as increased happiness and flexibility, and the need for proper financial planning and investment strategies. Lastly, they stressed the balance between enjoying the present and planning for the future, and planned for future discussions on topics such as traditional versus Roth investing. Key Points Discussed: Work Optional Concept and Sacrifices The hosts discussed the sacrifices required to achieve a work optional life. They emphasized the importance of giving up status games and the desire for immediate gratification, highlighting the need for a long-term perspective. Lastly, they stressed the importance of defining one's own path and goals, and considering whether the end result is truly desired. Work Optional Living and Prioritizing Freedom The hosts argued that living below one's means is a crucial step towards achieving financial freedom and reducing the reliance on a paycheck. They also highlighted the importance of understanding the opportunity cost of every decision, considering the time, money, energy, and attention it will consume.Avoiding Bad Debt and Enhancing Insurance Rachael and Matt emphasized the importance of avoiding bad debt and ensuring proper insurance coverage as crucial components of their overall financial strategy. They highlighted that bad debt, such as loans taken out for depreciating assets, can significantly hinder wealth building efforts. Discussing Work Optional Lifestyle and Financial Planning They discussed the concept of becoming 'work optional', which focuses on achieving financial independence to create a more fulfilling and flexible lifestyle. They highlighted the benefits of this lifestyle, such as increased happiness, creativity, and the ability to pursue personal interests. The discussion also touched on the idea of progressing through different levels of financial goals.Balancing Work and Life Priorities Matt and Rachael discussed the concept of living a work optional life and the balance between enjoying the present and planning for the future. They emphasized that making financial sacrifices should not come at the cost of valuable time with family and loved ones. This episode serves as a comprehensive guide for listeners looking to understand the foundations of investing and how to approach it in a thoughtful and informed manner.Connect with us:Rachael X/Twitter - @camp_wealth rachaelcampwealth.com Matt X/Twitter - @matthew_garasic unrivaledwm.com Disclaimer: This podcast provides general information and discussion about finance, investing, and related subjects. The content provided in this podcast is not intended as investment advice and should not be taken as such. Always seek the advice of a professional or conduct your own research before making financial decisions. Rachael Camp offers advisory Services are offered through Creative Financial Designs, Inc., a Registered Investment Adviser, and Securities are offered through cfd Investments, Inc., a Registered Broker/Dealer, Member FINRA & SIPC, 2704 S. Goyer Rd., Kokomo, IN 46902. 765-453-9600. Neither Camp Wealth or Unrivaled Wealth Management are affiliated with the CFD companies or each other.

Episode Summary: In this episode of "Becoming Work Optional," hosts Matt and Rachael explore the basics of investing and address common misconceptions. They debunk the myth that successful investing requires access to exclusive investment options and emphasize the importance of making educated decisions. The discussion covers asset allocation, the debate between active and passive investing, and the impact of tax efficiency and expense ratios on investment returns.Key Points Discussed:Simplicity in Investing:Matt and Rachael emphasize that investing success doesn't hinge on complexity or access to exclusive options. They argue that basic understanding and education outweigh the allure of complicated strategies promoted through social media or by celebrities.Asset Allocation and Diversified Portfolios:The importance of asset allocation is highlighted as crucial for managing risk and achieving consistent long-term performance. Rachael introduces three tests to help listeners determine their proper asset allocation based on their ability, willingness, and need to take on risk.Debating Active vs. Passive Investing:The hosts debate the merits of active versus passive investing. They discuss findings from a study by S&P Dow Jones Indices, which suggests that actively managed funds often underperform their benchmarks, particularly over longer periods. The study can be found HERE.Tax Efficiency and Expense Ratios:The discussion turns to the importance of considering tax efficiency and the impact of expense ratios on investment returns. The hosts agree that controlling costs is essential for maximizing long-term capital gains and that passive or index funds often offer more tax-efficient and cost-effective options.This episode serves as a comprehensive guide for listeners looking to understand the foundations of investing and how to approach it in a thoughtful and informed manner.Connect with us:RachaelX/Twitter - @camp_wealthrachaelcampwealth.comMattX/Twitter - @matthew_garasicunrivaledwm.comDisclaimer: This podcast provides general information and discussion about finance, investing, and related subjects. The content provided in this podcast is not intended as investment advice and should not be taken as such. Always seek the advice of a professional or conduct your own research before making financial decisions.Rachael Camp offers advisory Services are offered through Creative Financial Designs, Inc., a Registered Investment Adviser, and Securities are offered through cfd Investments, Inc., a Registered Broker/Dealer, Member FINRA & SIPC, 2704 S. Goyer Rd., Kokomo, IN 46902. 765-453-9600.Neither Camp Wealth or Unrivaled Wealth Management are affiliated with the CFD companies or each other.

Episode Summary: In this episode of Becoming Work Optional, Matt and Rachael discuss self-employed retirement accounts and the different options available for small business owners and solopreneurs. They break down the stages of entrepreneurship and recommend retirement plans based on factors such as savings capacity, number of employees, and anticipated business growth. The hosts emphasize the importance of consulting with professionals and conducting thorough due diligence before implementing any retirement plan. Key Points Discussed: Self-employed retirement accounts have significant benefits Tax savingsTax-efficient growthSaving for retirement It is important to choose the right retirement plan based on your business stage and financial situation.Good options for beginner entrepreneurs Starting with a traditional IRA or Roth IRAHealth savings account (HSA) if eligible Intermediate entrepreneurs can consider: SEP IRAs Solo 401(k)s (offering more flexibility and not disrupting a backdoor Roth IRA strategy) Advanced entrepreneurs can explore: Cash balance plans (require careful consideration and professional guidance)Significant contributionsTax savingsWhen choosing a retirement plan it is important to consider factors such as: Contribution limits Employee statusFuture business changesWorking with professionals, such as CPAs and actuaries, is crucial to navigate the complexities of retirement planning for self-employed individuals. Connect with us: Rachael X/Twitter - @camp_wealth rachaelcampwealth.com Matt X/Twitter - @matthew_garasic unrivaledwm.com Disclaimer: This podcast provides general information and discussion about finance, investing, and related subjects. The content provided in this podcast is not intended as investment advice and should not be taken as such. Always seek the advice of a professional or conduct your own research before making financial decisions. Rachael Camp offers advisory Services are offered through Creative Financial Designs, Inc., a Registered Investment Adviser, and Securities are offered through cfd Investments, Inc., a Registered Broker/Dealer, Member FINRA & SIPC, 2704 S. Goyer Rd., Kokomo, IN 46902. 765-453-9600. Neither Camp Wealth or Unrivaled Wealth Management are affiliated with the CFD companies or each other.

Episode Summary:In this episode of Becoming Work Optional, Matt and Rachael discuss the mental challenges of entrepreneurship and how to navigate them. They emphasize the importance of understanding the realities of starting a business, including the high failure rates and the need for a strong support system. They also highlight the need to acquire new skills and be adaptable in order to succeed in entrepreneurship.Key Points Discussed:Entrepreneurship is a challenging journeyRequires mental resilience and perseveranceThe goal of becoming work optional is often a driving force for entrepreneursAllows for greater control over time and scheduleIt is important to have a supportive network and surround yourself with people who believe in your vision.Starting a new business comes with a high risk of failureMentally prepare for the challenges and setbacksThe statistics show that a significant percentage of new businesses fail within the first few years.The mental toll of entrepreneurship can be overwhelmingIt is important to take care of your mental health during the processSkills from previous jobs may not directly translate to entrepreneurshipNew skills will need to be learned and developedConsistency and patience are key to success in entrepreneurshipResults may take longer than expected.It is common to experience both high highs and low lows in entrepreneurship, and it is important to stay focused and motivated during the tough times.Owning a business provides the opportunity for greater flexibility and control over one's schedule, but it requires hard work and dedication.The journey of entrepreneurship can be mentally and emotionally rewarding, but it is not for everyone.Connect with Us:RachaelX/Twitter - @camp_wealthrachaelcampwealth.comMattX/Twitter - @matthew_garasicunrivaledwm.comDisclaimer: This podcast provides general information and discussion about finance, investing, and related subjects. The content provided in this podcast is not intended as investment advice and should not be taken as such. Always seek the advice of a professional or conduct your own research before making financial decisions.Rachael Camp offers advisory Services are offered through Creative Financial Designs, Inc., a Registered Investment Adviser, and Securities are offered through cfd Investments, Inc., a Registered Broker/Dealer, Member FINRA & SIPC, 2704 S. Goyer Rd., Kokomo, IN 46902. 765-453-9600.Neither Camp Wealth or Unrivaled Wealth Management are affiliated with the CFD companies or each other.

Episode Summary: Rachael and Matt discuss the importance of insurance in protecting your income and wealth. They cover six types of insurance that individuals should consider, including life insurance, disability insurance, homeowners insurance, auto insurance, health insurance, and umbrella coverage. They emphasize the need for adequate coverage and highlight key considerations for each type of insurance. Key Points Discussed: Importance of insurance in protecting income and wealth Common misconception of being underinsured Types of insurance to considerLife insuranceDisability insuranceHomeowners insuranceAuto insuranceHealth insuranceUmbrella coverage Considerations for life insuranceTerm vs. permanentCoverage amountEstate tax implications Importance of disability insurance and statistics on disability events Components of homeowners insurance: DwellingPersonal propertyLiability Importance of liability coverage in auto insurance Considerations for health insuranceTotal cost analysisHigh deductible health plans Health savings accounts (HSAs) Benefits of umbrella coverage in protecting assets and earnings potential Importance of understanding policy wording and definitions in insurance policies Need for unbiased advice when choosing insurance policies Reminder to review and update insurance coverage regularlyConnect with Us:RachaelX/Twitter - @camp_wealthrachaelcampwealth.comMattX/Twitter - @matthew_garasicunrivaledwm.comDisclaimer: This podcast provides general information and discussion about finance, investing, and related subjects. The content provided in this podcast is not intended as investment advice and should not be taken as such. Always seek the advice of a professional or conduct your own research before making financial decisions.Rachael Camp offers advisory Services are offered through Creative Financial Designs, Inc., a Registered Investment Adviser, and Securities are offered through cfd Investments, Inc., a Registered Broker/Dealer, Member FINRA & SIPC, 2704 S. Goyer Rd., Kokomo, IN 46902. 765-453-9600.Neither Camp Wealth or Unrivaled Wealth Management are affiliated with the CFD companies or each other.

Episode Summary:Rachael and Matt dive into everything you need to know about your Restricted Stock Units (RSUs). They explore strategies for maximizing the benefits of this form of equity compensation, navigating taxes, and being mindful of concentration risk.Key Points Discussed:RSUs ExplainedWe walk through the two criteria for vestingHow vesting worksThe dates you need to be aware ofDouble trigger RSUsTaxes and RSUsHow RSUs are taxedHow to do tax planning for RSUsCommon mistakesTax planningHolding onto the stockConcentration riskConnect with Us:RachaelX/Twitter - @camp_wealthrachaelcampwealth.comMattX/Twitter - @matthew_garasicunrivaledwm.comDisclaimer: This podcast provides general information and discussion about finance, investing, and related subjects. The content provided in this podcast is not intended as investment advice and should not be taken as such. Always seek the advice of a professional or conduct your own research before making financial decisions.Rachael Camp offers advisory Services are offered through Creative Financial Designs, Inc., a Registered Investment Adviser, and Securities are offered through cfd Investments, Inc., a Registered Broker/Dealer, Member FINRA & SIPC, 2704 S. Goyer Rd., Kokomo, IN 46902. 765-453-9600.Neither Camp Wealth or Unrivaled Wealth Management are affiliated with the CFD companies or each other.

Duration: 35:02Episode Summary: Join Rachael and Matt in a thought-provoking discussion on the concept of delayed gratification and its impact on financial planning and personal happiness. This episode delves into the balance between saving for the future and enjoying the present, the challenges of job dissatisfaction, the journey of entrepreneurship, and the importance of work-life balance. Whether you're contemplating a career change, starting a business, or striving for financial security, this conversation offers valuable insights into making informed decisions that align with your long-term goals and immediate well-being.Key Points Discussed:The Double-Edged Sword of Delayed Gratification:Exploring the importance of saving for the future without sacrificing present happiness.Rachael shares insights from personal and client experiences on finding a balance.From Job Dissatisfaction to Entrepreneurship:Matt recounts his transition from an unfulfilling job to starting his own business, highlighting the necessity of a financial safety net.The significance of planning, realistic expectations, and a cash runway in pursuing entrepreneurship.The Challenge of Balancing Work and Success:Discussing the difficulty of appreciating success and maintaining a work-life balance amidst the drive to achieve more.The importance of self-care and allowing oneself to enjoy the fruits of hard work.Work-Life Balance vs. Financial Security:Rachael discusses the fear of reducing savings rates and the risks associated with delaying life experiences.The unpredictability of life and the importance of focusing on present fulfillment.Financial Planning with Life Balance in Mind:Matt emphasizes the value of pursuing passions before retirement and the role of financial planning in making informed decisions.Rachael introduces the concept of "mini-retirements" as a way to balance financial goals with personal exploration.Entrepreneurship, Failure, and the Journey:Sharing perspectives on embracing failure as a learning opportunity and the importance of enjoying the journey, not just the destination.The motivational role of a backup plan and the significance of finding joy in the process.Connect with Us:RachaelX/Twitter - @camp_wealthrachaelcampwealth.comMattX/Twitter - @matthew_garasicunrivaledwm.comClosing Thoughts: This episode serves as a reminder that while planning for the future is crucial, it's equally important to live fully in the present. Rachael and Matt's insights into delayed gratification, financial planning, and the pursuit of happiness offer a roadmap for navigating the complexities of work, life, and financial goals.Disclaimer: The content provided in this podcast is for informational purposes only and should not be construed as financial, legal, or professional advice. Always consult with a qualified professional before making any financial decisions.

Episode Summary: In this insightful episode of the "Work Optional" podcast, Rachael and Matt dive deep into the crucial role of understanding your cash flow to achieve a work-optional lifestyle. They discuss the basics of cash flow, common misconceptions with budgeting, how to track expenses, and the reverse budgeting strategy. Key Points Discussed:Cash flow basics:The importance of using a percentage of income today to save for future goals Budgeting misconceptions:Budgeting is the process of understanding where your money is going It does not have to be restrictive.Tracking expenses:Look at things on a high level: % of savings vs % of spending.Spend a few months tracking.Compare to the 50/30/20 benchmark. Reverse budgeting:The “pay yourself first method” Invest -> pay bills -> spendDisclaimer: This podcast provides general information and discussion about finance, investing, and related subjects. The content provided in this podcast is not intended as investment advice and should not be taken as such. Always seek the advice of a professional or conduct your own research before making financial decisions.Rachael Camp offers advisory Services are offered through Creative Financial Designs, Inc., a Registered Investment Adviser, and Securities are offered through cfd Investments, Inc., a Registered Broker/Dealer, Member FINRA & SIPC, 2704 S. Goyer Rd., Kokomo, IN 46902. 765-453-9600.Neither Camp Wealth or Unrivaled Wealth Management are affiliated with the CFD companies or each other.

Duration: 20:55Episode Summary: In this insightful episode of the "Work Optional" podcast, Rachael and Matt dive deep into the crucial role of tax diversity in achieving a work-optional lifestyle. They explore strategies for maximizing retirement savings, the benefits and limitations of different retirement accounts, and the importance of tax planning for future financial freedom. Join us as we unravel the complexities of tax-deferred, tax-free, and taxable accounts to help you navigate your path to work optionality.Key Points Discussed:Understanding Tax Diversity:The importance of having a mix of tax-deferred, tax-free, and taxable accounts for achieving work-optional status.How tax diversity can provide financial flexibility and potentially lower tax burdens in retirement.Tax-Deferred vs. Tax-Free Accounts:The benefits of tax-deferred accounts for growing investments without immediate tax implications and the strategic use of tax-free accounts for tax-free withdrawals in retirement.Strategies to avoid early withdrawals and maximize the growth potential of these accounts.Maximizing Retirement Savings:Techniques for high earners to maximize their retirement contributions, including the use of Backdoor Roth IRAs.The concept of tax arbitrage and its potential to enhance work optionality.The Role of Taxable Brokerage Accounts:How taxable brokerage accounts offer liquidity and flexibility for early retirees or those needing access to funds before traditional retirement age.The strategic placement of investments based on tax efficiency, known as tax location.Millennial Financial Challenges:The episode addresses the unique financial challenges millennials face, particularly the pitfalls of over-relying on tax-deferred accounts for long-term savings.The significance of tax diversification in providing financial flexibility and enabling life adjustments.Remember to Subscribe!Don't miss out on future episodes filled with actionable advice on navigating the path to financial freedom. Subscribe now!Disclaimer: This podcast provides general information and discussion about finance, investing, and related subjects. The content provided in this podcast is not intended as investment advice and should not be taken as such. Always seek the advice of a professional or conduct your own research before making financial decisions.Rachael Camp offers advisory Services are offered through Creative Financial Designs, Inc., a Registered Investment Adviser, and Securities are offered through cfd Investments, Inc., a Registered Broker/Dealer, Member FINRA & SIPC, 2704 S. Goyer Rd., Kokomo, IN 46902. 765-453-9600.Neither Camp Wealth or Unrivaled Wealth Management are affiliated with the CFD companies or each other.

#002 "How to Create Work Optional Goals"Hosts: Rachael Camp and Matt GarasicDuration: 31:30Episode Summary:Key points discussed:1. Get IntentionalAsk yourself questions:What does an ideal day look like to you?What experiences do you want to have?What do you want to splurge on without guilt?2. Break goals up into short, medium, and long-term goals3. Reverse engineer goals to the present year4: How to stay on trackCreate regular check-ins.You can change your goals - make them easier or more difficult.Automate!Remind yourself of your “why”Connect with Us:- Find Rachael on X @camp_wealth and Instagram/YouTube at @campwealth or by searching Rachael Camp on Google.- Find Matt on X and Instagram at @matthew_garasic or by searching Matthew Garasic on Google.Disclaimer: This podcast provides general information and discussion about finance, investing, and related subjects. The content provided in this podcast is not intended as investment advice and should not be taken as such. Always seek the advice of a professional or conduct your own research before making financial decisions.Rachael Camp offers advisory Services are offered through Creative Financial Designs, Inc., a Registered Investment Adviser, and Securities are offered through cfd Investments, Inc., a Registered Broker/Dealer, Member FINRA & SIPC, 2704 S. Goyer Rd., Kokomo, IN 46902. 765-453-9600.Neither Camp Wealth or Unrivaled Wealth Management are affiliated with the CFD companies or each other.

#001 - "Launching the Work Optional Podcast" Show NotesTitle: Launching the "Work Optional Podcast"Hosts: Rachael Camp and Matt GarasicDuration: 41:20Episode Summary:Welcome to the inaugural episode of the "Work Optional" podcast with your hosts, Rachael and Matt. This episode marks the beginning of a series dedicated to exploring personal finance strategies that empower you to achieve work optionality. Join us as we dive into what it means to be work optional and how it can transform your life.Key Points Discussed:1. Defining Work Optionality:- Matt explains the concept of work optionality as the freedom to choose your work path, whether it's quitting a job, taking a lower-paying but more flexible role, launching a side hustle, or working on your own terms.- Rachael emphasizes that achieving work optionality is more about a mindset shift than retiring from work. It's about transitioning from working for survival to working for impact and creativity.2. The Motivations Behind "Work Optional":- Discover the personal motivation behind why Rachael and Matt created this podcast.- Learn about their desire for freedom and flexibility in their work schedules and the various paths to achieving work optionality.3. Exploring Business Ownership:- Rachael and Matt delve into the motivations and challenges of being a business owner, including the desire for control over one's schedule and income.- They discuss the concept of starting a side hustle as a stepping stone to full-time entrepreneurship.4. Personal Career Journeys:- Matt shares his journey from studying petroleum geology to a career in financial services, leading to the founding of Unrivaled Wealth Management.- Rachael talks about her path from working in Chicago's finance sector to joining her father's firm and eventually starting her own business.Connect with Us:- Find Rachael on X and Instagram at @camp_wealth, her website https://www.rachaelcampwealth.com/, or by searching Rachael Camp on Google.- Find Matt on X and Instagram at @matthew_garasic, his website www.unrivaledwm.com, or by searching Matthew Garasic on Google.Closing Thoughts:Thank you for joining us on this journey to redefine the way we think about work and financial freedom. We're excited to share our experiences and insights with you and look forward to growing together in this journey towards work optionality.Remember to Subscribe!- Don't forget to subscribe to our podcast for regular updates on new episodes.---Disclaimer: This podcast provides general information and discussion about finance, investing, and related subjects. The content provided in this podcast is not intended as investment advice and should not be taken as such. Always seek the advice of a professional or conduct your own research before making financial decisions.Rachael Camp offers advisory Services are offered through Creative Financial Designs, Inc., a Registered Investment Adviser, and Securities are offered through cfd Investments, Inc., a Registered Broker/Dealer, Member FINRA & SIPC, 2704 S. Goyer Rd., Kokomo, IN 46902. 765-453-9600.Neither Camp Wealth or Unrivaled Wealth Management are affiliated with the CFD companies or each other.