New Episodes are Released Bi-weekly on Tuesdays! Welcome to Ditch the Suits, where reformed planners get real about the stuff no one in the financial world wants you to know about. If you are interested in learning from successful business owners about ho
The Ditch the Suits - Financial, Investment, & Retirement Planning podcast is an excellent resource for anyone looking to improve their financial knowledge and make informed decisions about their money. The three-part series on financial advisors was particularly informative, covering topics such as fiduciary duty, advisor compensation, and what to expect when working with an advisor. This podcast provides fair and unbiased information that is relatable to listeners. The hosts speak to specific financial situations and events, making the content relevant and valuable.
One of the best aspects of this podcast is its relatability and relevance. The hosts approach financial topics with real-life perspectives, making them relatable to everyday listeners. They discuss specific financial situations and events that many people can relate to, providing practical advice and guidance. The hosts also ensure that the information they provide is always relevant and up-to-date, keeping listeners informed about current trends in finance.
Another great aspect of this podcast is its educational value. The hosts have a deep understanding of finance and share their expertise in a way that is engaging and practical. Listeners gain a higher level of education about finance from professionals who are passionate about helping others understand complex financial concepts. This educational aspect helps alleviate financial anxiety and provides listeners with a better understanding of their next steps for the future.
However, there are no apparent worst aspects of this podcast mentioned by reviewers thus far.
In conclusion, the Ditch the Suits - Financial, Investment & Retirement Planning podcast is highly recommended for individuals looking for insightful content on money management. Whether you are a couple seeking financial advice or someone looking to take control of your own finances, this podcast offers valuable information from experienced professionals. The relatability of the hosts combined with their knowledge and expertise make each episode enjoyable and informative. Don't miss out on this valuable resource!
In this episode of Ditch the Suits, host Travis Maus sits down with Dr. Paul Gould, PhD, LICSW, a licensed clinical social worker and expert in anxiety and trauma, to unpack the mounting stress experienced by federal employees amid sudden funding cuts and workforce changes.With nearly 35% of all U.S. jobs tied in some way to federal funding, these shifts are rippling across the economy—impacting individuals, families, and financial futures. Travis and Dr. Gould dive into the differences between stress, anxiety, and trauma, and explore the real emotional toll these changes are taking on people. They discuss why common reactions like “toughen up” may be more harmful than helpful, and how political polarization and media overload are intensifying people's sense of fear and uncertainty.Most importantly, Dr. Gould offers practical, thoughtful advice on how to recognize and manage anxiety, maintain emotional well-being, and support others through challenging transitions. Whether you're directly affected or simply trying to make sense of the current climate, this episode delivers insights that are both grounding and empowering.________________________________________
In this episode, Travis and Steve delve into the complexities of tariffs, egg prices, and the broader implications for financial futures. They challenge common narratives surrounding these topics, emphasizing the importance of understanding the underlying factors affecting prices and regulations. The conversation highlights the role of supply issues, regulatory policies, and the misconceptions surrounding tariffs, ultimately advocating for a more informed perspective on economic issues. One key is Travis stating, "Awareness of the media agendas is essential for clarity and olitical conversations should be rooted in intelligence, not vitriol."They explore how tariffs serve as a mechanism for realigning competitive balance and discuss the importance of supporting local economies. The conversation also touches on investment strategies in a changing market and the broader implications of U.S. economic policies on global relations. Key TakeawaysEgg prices are high due to supply issues, not tariffs.Panic buying during crises can exacerbate price increases.Regulatory policies often dictate agricultural practices.Tariffs are a common tool used by many countries.The U.S. is not unique in its use of tariffs.Free trade, as commonly understood, does not exist.Understanding tariffs is crucial for informed financial decisions.There are opportunities in economic downturns.Emotional responses to economic news can cloud judgment.Sleeping on an issue can provide clarity and reduce emotional reactions.Tariffs are often misunderstood; they are not a direct tax on consumers.Local economies benefit when consumers prioritize local products.Investment strategies should consider the shifting dynamics of global trade.The U.S. economy is a significant player in the global market.Understanding tariffs can help consumers make informed choices.Consumer behavior is influenced by pricing and product quality.Economic policies can create opportunities for local businesses._________________________________________
In this episode, Travis and Steve discuss how to navigate market volatility, emphasizing the importance of understanding market corrections and crashes. They explore strategies for profiting during downturns, including Roth conversions and identifying investment opportunities. The conversation highlights the wisdom of Warren Buffett, encouraging listeners to view market fluctuations as "opportunities rather than threats."Key TakeawaysMarket volatility can be leveraged for profit.Understanding the difference between market corrections and crashes is crucial.Market resets can create buying opportunities.Roth conversions during market downturns can maximize tax benefits.Investors should focus on the value behind stocks, not just their prices.Fear often drives poor investment decisions during market crashes.Strategic planning can turn market downturns into financial opportunities.Investing requires a long-term perspective, especially during volatility.Research is essential before making investment decisions during downturns.Market catastrophes can provide rare buying opportunities for savvy investors.___________________________________________
In this episode, Travis and Steve delve into the complexities of taxation, focusing on common mistakes individuals make regarding tax reduction strategies. They discuss the difference between tax loopholes and traps, the concept of tax loss harvesting, and the risks associated with market timing. The conversation also covers the implications of deferring income taxes, the challenges of capital gains, and the strategic use of the zero percent tax bracket. Together, Travis and Steve emphasize the importance of understanding tax rules to avoid costly mistakes and maximize financial outcomes.TakeawaysUnderstanding the difference between tax loopholes and traps is crucial.Tax loss harvesting can be beneficial, but it comes with risks.Market timing can lead to missing significant market gains.Deferring income taxes may create future tax burdens.Capital gains taxes can be avoided through strategic planning.Living in a zero percent tax bracket can be misleading.Projections are essential for effective tax planning.Selling investments to avoid capital gains can be detrimental.Tax strategies should align with long-term financial goals.Professional guidance is vital for navigating complex tax situations.____________________________________________
We're diving deep into the world of financial planning with our awesome guest, Jeff Chase! Jeff is Vice President of Financial Planning and a Senior Wealth Manager at S.E.E.D. Planning Group.This episode shines a spotlight on the critical importance of choosing not just a financial planner, but the right firm that supports them. We discuss how organizations can make or break your financial journey, focusing on the concept of "bench strength"—essentially, what happens when your go-to planner is unavailable or out of the office. Plus, we'll explore the evolution of financial planning at S.E.E.D. and how we cater to a diverse range of clients, from those just starting to those with serious wealth. Takeaways:Understanding the difference between a financial planner and the actual 'real deal' planner is crucial for your financial health and peace of mind. The importance of bench strength in financial planning teams is highlighted, as not having a backup during your planner's vacation can lead to chaos. Choosing a financial planning firm is like finding a medical practice; you need a cohesive team that communicates well and puts your interests first. ______________________________________About Jeff ChaseJeff is the Senior Vice President of Financial Planning at S.E.E.D. Planning Group, a fee-only financial firm committed to acting in its clients' best interests as a fiduciary.He joined S.E.E.D. in 2020 and is a key member of the firm's leadership team. He currently oversees and leads the financial planning team which consists of nine financial planners and wealth managers.______________________________________
Today, we're diving deep into the nitty-gritty of what makes a financial planner the "real deal." Our special series guest, Jeff Chase, VP of Financial Planning and Senior Wealth Manager at S.E.E.D. Planning Group is back with us, and together we're about to drop some insights that'll help you see through all the shiny sales pitches out there. We're breaking down the art of financial planning and why it's not just about throwing money at investments and calling it a day. Instead, it's about crafting a tailored strategy that considers everything from taxes to healthcare, ensuring your financial future isn't left to chance. If you're tired of cookie-cutter advice and pushy sales professionals and want to understand how to get the most out of your money, stick around because this episode is packed with insights that could change your financial game!Takeaways:In financial planning, knowing your goals is key; without it, you're just guessing. A solid financial plan should dictate your investments, not the other way around, folks. Meeting with clients regularly is essential; it's not just about selling products, it's about relationships. Solo practitioners in finance face unique risks, so having a team can be a game changer for clients. Understanding risk is crucial; sometimes being conservative can protect you better than chasing high returns. Navigating the world of financial products requires a keen eye to avoid unnecessary fees and pitfalls. About JeffJeff is the Senior Vice President of Financial Planning at S.E.E.D. Planning Group, a fee-only financial firm committed to acting in its clients' best interests as a fiduciary.He joined S.E.E.D. in 2020 and is a key member of the firm's leadership team. He currently oversees and leads the financial planning team, which consists of nine financial planners and wealth managers.
Our special guest, Jeff Chase, Senior Vice President of Financial Planning at S.E.E.D. Planning Group, is back! In this episode, we're diving deep into financial planning and exposing financial advisors and professionals who might be more about sales than sound advice.We'll break down how to distinguish experienced, qualified financial planners from those who are just in it for the commission—because when it comes to your financial future, you deserve a true professional, not just a salesperson.We discuss how to find someone who's not only got your back but also understands the game, helping you make sound decisions for your future. It's your money and life! Takeaways:Navigating the financial world can feel like a treasure hunt with no map; we need to be wise and cautious about who we trust with our cash. A good financial advisor isn't just selling you products; they should be helping you level up in life and finances, like your personal finance Yoda. Don't let financial jargon trip you up; understanding your own money situation is more important than ever in this complicated world. The key to financial planning is more than just numbers; it's about helping clients prioritize their goals and navigate life's financial rollercoaster with empathy. About JeffJeff is the Senior Vice President of Financial Planning at S.E.E.D. Planning Group, a fee-only financial firm committed to acting in its clients' best interests as a fiduciary.He joined S.E.E.D. in 2020 and is a key member of the firm's leadership team. He currently oversees and leads the financial planning team, which consists of nine financial planners and wealth managers.
Navigating the world of financial advising can feel like wandering through a maze blindfolded. Not every financial advisor is created equal—some have the credentials and expertise, while others just have the title. So, how can you tell the difference?In this brand-new four-part series, we're joined by Jeff Chase, Senior Vice President of Financial Planning at S.E.E.D. Planning Group. Together, we're pulling back the curtain on the financial advising industry and trying to help you better identify and spot the real deal when it comes to working with a financial professional. Together, we break down the various titles floating around and uncover what truly separates a knowledgeable, trustworthy advisor from those just playing the part.Tune in as we demystify the world of financial planning and help you make more informed decisions about your financial future!Takeaways:Understanding the difference between a so-called financial advisor and a truly qualified one is crucial for your financial future. The financial planning industry is filled with a plethora of misleading titles that often confuse clients about whom they can trust. Building a career in financial planning requires passion and dedication beyond just chasing the paycheck, which many professionals often overlook. Networking and learning from experienced colleagues can significantly accelerate your growth and understanding in the financial planning world. About Jeff Jeff is the Senior Vice President of Financial Planning at S.E.E.D. Planning Group, a fee-only financial firm committed to acting in its clients' best interests as a fiduciary.He joined S.E.E.D. in 2020 and is a key member of the firm's leadership team. He currently oversees and leads the financial planning team which consists of nine financial planners and wealth managers.
Have you ever felt like the stock market is rigged against you? Well, you're not alone in that sentiment, but we're here to pull back the curtain and show you that it's all about understanding the rules of the game.Throughout the episode, we argue that many investors are distracted by the flashy allure of 'instant wealth' while ignoring the real strategies that could lead to sustainable success. We illustrate how knowledge and strategy can turn the tables. The conversation weaves through the emotional rollercoaster of investing, debunking the idea that markets are inherently unfair. Instead, they emphasize the importance of discipline and a solid investment thesis. By the end of this episode, you'll be equipped with insights that make you question every investment decision you've ever made, and maybe even inspire you to approach your portfolio like a chess game—strategically and with purpose!Takeaways:In this episode, we dive into the misconception that diversification always leads to better investment outcomes, highlighting that understanding the rules of investing is key. We explore how many people perceive the stock market as rigged, and how this perception often stems from a lack of knowledge about investment strategies and market dynamics. Understanding the importance of having an investment thesis can dramatically improve your investment outcomes, as it helps guide your decisions in a strategic manner. The discussion emphasizes the necessity of being disciplined and structured in investing, reinforcing that successful investors are those who play to win rather than play not to lose. ___________________________________________
Ever feel like the investment world is just one big emotional rollercoaster? Well, you're not alone! We're diving into the nitty-gritty of why the average investor is at a serious disadvantage and how to flip the script. We kick things off by addressing the emotional rollercoaster that is the stock market, likening it to an emotional teenager throwing tantrums over price fluctuations. It's all about understanding that while the market might be throwing a fit, we don't have to join the chaos. We dive deep into the common pitfalls that trap everyday investors, highlighting the lack of knowledge about their own investments and the emotional decision-making that often leads to financial disaster. Our conversation shifts to the practical side of investing, where we share Travis' top-ten actionable tips that folks can implement right away to regain control over their investment strategies. We're talking about understanding what you own, looking past the price tag, and recognizing the real value of your investmentsTakeaways:Investing is more than just buying stocks; it's about owning a piece of a company that should generate future profits, and knowing how to evaluate that is key. Understanding your investment statements is crucial; they should tell you not just the price, but the value of what you own and the story behind it. Don't let price fluctuations dictate your investment decisions; focus on the underlying value and long-term potential of the companies you invest in. If you're not confident in a company's future, or the leadership behind it, it might be time to reconsider your investment strategy altogether. ____________________________________________________
Would you like your investments to have more good days than bad days? Are you tired of logging in and seeing your investment account balances dropping? Why does the stock market feel like an emotional teenager throwing tantrums and making drama? Well, that's what we're diving into today!We're breaking down how the ups and downs of your investments mirror the wild mood swings of adolescence—think mood swings but with dollar signs. Between the media's sensational headlines and our natural urge to know “why,” we often find ourselves spiraling into panic mode. We're here to dish out some wisdom on how to remain calm and steadfast amidst the chaos and why, sometimes, sticking to the boring, steady path is the real way to win the investment game. Takeaways:The stock market behaves like an emotional teenager, having temper tantrums that leave investors questioning their choices. Investing isn't about quick gains; it's a long-term journey requiring discipline and patience, much like mastering a new skill. People often panic during market volatility due to the fear of losing money, missing the fact that markets naturally fluctuate over time. Understanding what you're invested in can help alleviate anxiety; many investors don't even know the details of their own portfolios. ___________________________________________
This episode dives into why teaming up with a competent attorney is essential for your financial well-being, especially when it comes to estate planning. We've got our go-to legal expert, Kristen Luce, Partner at Coughlin and Gerhart LLP, back in studio to share how the right attorney can make all the difference in ensuring your assets are handled according to your wishes. We chat about the importance of communication, transparency, and doing your homework when choosing legal professionals—because let's be honest, nobody wants to leave their loved ones tangled in a legal mess. Ask those tough questions and gauge how they respond. The right professionals will be eager to help you navigate your unique situation with ease, not just shove you into a one-size-fits-all plan.Plus, we tackle the misconception that estate planning is only for the elderly; hint: if you're 18 or have something you care about, it's time to get your ducks in a row! Takeaways:Understanding the importance of vetting financial advisors and attorneys can significantly impact your financial future. Collaborative efforts between attorneys and financial advisors can lead to better outcomes for clients' estate planning needs. Don't skip out on estate planning; even young adults need to have their own legal documents in order. Beneficiaries can trump what's in your will, so it's crucial to check your accounts regularly for accuracy. Choosing a fee-only financial planner can help eliminate conflicts of interest that might arise with commission-based advisors. Always communicate your wishes clearly; ambiguity in estate planning can lead to family disputes down the line. _______________________________________________
Today, we're diving headfirst into the nitty-gritty of estate planning with our special guest, Kristen Luce, Partner at Coughlin and Gerhart, LLP, who knows this stuff like the back of her hand. Our episode kicks off with a casual banter that sets the tone for a relaxed yet informative discussion. Kristen shares her journey and passion for helping clients navigate the often murky waters of estate planning. Together we discuss how many people feel overwhelmed and hesitant to start their estate planning because, let's face it, nobody wants to think about their mortality. But Kristen reassures us that it's all about getting organized and taking proactive steps. We touch on the importance of having a good team in your corner—fee-only financial planners and attorneys who actually communicate and work together.Together, we unravel the mystery of why having a solid estate plan is essential, especially when life throws curveballs your way. We tackle the common misconceptions that make people hesitant to seek professional help and why you should throw your trust into the hands of someone who knows what they're doing (spoiler alert: it's not always the first Google result). Kristen explains how you should navigate the legal labyrinth of financial planning, ensuring you don't end up in a pickle when it counts the most.Takeaways:Ditch the Suits podcast is all about sharing financial insights that the industry prefers to keep hush-hush, helping listeners navigate their money matters like seasoned pros. The transition to Patreon is a game-changer, making past episodes accessible and ensuring you never miss out on new content, so hop on board! Estate planning isn't a one-size-fits-all process; it's crucial to work with an attorney who gets your unique situation and crafts a plan that truly reflects your wishes. Clients often struggle to get organized for estate planning, but with a solid questionnaire and guidance, the process can be smoother and less daunting than you think! Understanding the legal side of financial planning is essential, especially during tough times, as it helps to ensure your family's stability and peace of mind in the future. Communication is key in estate planning; a good attorney listens to what's important to you and explains things in plain English, avoiding the dreaded legalese. ________________________________________Ms. Luce joined Coughlin & Gerhart, LLP in 2007 and is a partner with the firm. She is chair of the firm's Trusts & Estates Practice Group. Ms. Luce's practice is concentrated in the areas of Estate Planning, Trust & Estate Administration, Guardianships, Adoptions, Litigated Estate Matters, and Real Estate. She practices in the firm's main office, as well as the Owego branch office. She has been selected as a Rising Star among New York lawyers for Estate Planning from 2013 – 2018 by Upstate New York Super Lawyers magazine. In 2017 Ms. Luce was named in the 24th Edition of the Best Lawyers in America® in the practice area of Trust & Estates. Ms. Luce has been given this award every year since 2017 (for the Best Lawyers in America© for Trust & Estates).Ms. Luce is a current member of the Broome County and New York State Bar Associations. She is a member of the New York Bar Association's Elder Law and Special Needs Section. Ms. Luce previously served on the Board of Directors to the local American Automobile Association (AAA) Club. She is a past Co-Chair of the Broome County Bar Association's Young Lawyers Committee. She served on the Board
We're diving deep into the world of trust (or lack thereof) in the financial services industry! This episode is all about how trust in your financial advisor should be more than just a warm fuzzy feeling; it needs to be backed by proactive planning and accountability. We'll break down two compelling cases: one involving a major investment firm hit with a $17.5 million civil penalty for allegedly making misleading statements about its ESG-focused investments, and another where an advisor orchestrated a Ponzi scheme to deceive clients.
In this special episode of Ditch the Suits, Travis and Steve break down the results of a recent survey that asked 1,000 investors working with financial advisors: What matters more—trust or performance?Should it be just one thing or a combination? Don't you deserve to work with someone who you can both trust not to rip you off and expect performance from? Join us as we challenge the status quo and discuss why clients should raise their expectations.Key takeaways from the survey:
Jess Blake, Certified Trust and Fiduciary Advisor and Senior Wealth Manager at S.E.E.D. Planning Group returns for the last episode in this series to help clarify the common misconception that estate planning is only necessary for the wealthy or elderly. We engage in a lively debate, dispelling these myths and emphasizing that anyone over 18 with any form of asset should consider an estate plan. The discussion highlights the critical role of power of attorney documents and how vital they are, especially when the unthinkable happens. Jess recounts real-life situations where families were left to navigate the murky waters of financial chaos due to lack of preparation, making it clear that estate planning is not just for the affluent but for everyone who cares about their loved ones. Listeners are treated to practical advice on getting started with their estate planning journey, with enough banter and light-heartedness to keep the mood upbeat despite the seriousness of the topic. Takeaways:Estate planning isn't just for the wealthy; it's crucial for everyone, even those young and single! Delaying estate planning can lead to costly and complicated situations for your loved ones later on. Having a solid power of attorney in place is essential for managing your affairs if you become incapacitated. It's not just about having documents; you need to regularly check and update them to reflect your current wishes and needs. _______________________________________
Estate planning is one of those things that we often put off until it's too late. This episode of Ditch the Suits is here to change that mindset! We've got Jess Blake, Certified Trust and Fiduciary Advisor and Senior Wealth Manager at S.E.E.D. Planning Group back with us, and she's about to drop some bombs about how to avoid those critical estate planning blunders that could haunt your family long after you've gone. We kick off with a light-hearted chat about the misconceptions surrounding estate planning—many folks think it's just about writing a will. But Jess sets the record straight, explaining that it's a comprehensive process that involves organizing your finances, minimizing taxes, and ensuring your wishes are properly communicated.Throughout the episode, we explore the many facets of estate planning, from appointing guardians to managing your assets for tax efficiency. Jess shares fascinating stories about clients who thought they were set with a basic will but had no idea about the complex world of trusts and beneficiary designations. It's like thinking you can bake a cake with just flour and water—there's a whole lot more that goes into it! We also discuss the critical role of financial planners in this process, highlighting that we're not just here to sell you products; we're here to guide you through a thoughtful and strategic planning process that aligns with your values and goals.As we wrap, Jess emphasizes the importance of regular reviews and updates to your estate plan. Life is constantly changing—new grandkids, changing relationships, evolving charitable intents—and your estate plan should reflect those changes. We discuss the importance of having open communication between financial planners and attorneys to ensure that your estate planning documents are both legally sound and practically effective. So, if you've been putting off your estate planning, this episode is a must-listen. Tune in and learn how to take control of your legacy and set your family up for success—because let's be real, nobody wants to leave a mess behind when they're gone!Takeaways:Estate planning is about much more than just a will; it involves organizing assets, minimizing taxes, and ensuring your wishes are respected after you're gone. Many people mistakenly believe that having a simple will is all they need for estate planning, but there's way more to consider, like trusts and tax implications. The role of a financial planner in estate planning is crucial; they help clients navigate the complexities and work alongside attorneys to ensure a solid plan. Understanding the differences between various types of trusts and estate planning documents is key to avoiding critical mistakes that could affect your heirs. It's common for clients to assume their estate plan is bulletproof; however, many are shocked to discover gaps or outdated information in their plans. Regularly reviewing your estate plan is essential, especially after major life events; don't let your plan collect dust or become irrelevant! ________________________________________________________________________________________________________Thanks to our sponsor, S.E.E.D. Planning Group! S.E.E.D. is a fee-only financial planning firm with a fiduciary obligation to put your best interest first. Schedule your free discovery meeting at www.seedpg.comYou can watch all episodes, as well as other great content produced by NQR Media through their YouTube channel at https://youtube.com/@NQRMedia
In this episode, we dive into estate planning with Jessica Blake, a Senior Wealth Manager and Certified Trust and Fiduciary Advisor (CTFA) at S.E.E.D. Planning Group. Jessica shares real-life insights from working with clients every day, shedding light on the critical mistakes people make that can jeopardize their financial legacy.We explore why estate planning is often overlooked, how proper planning can prevent financial disaster, and why working with the right advisor makes all the difference. Jessica and the team discuss how financial planning goes beyond numbers—it's about creating a life that aligns with your goals and values. Whether you're saving for retirement, planning for your heirs, or just trying to make sense of your financial future, this episode is packed with valuable takeaways to help you avoid costly missteps.Tune in to learn how to take control of your estate plan before it's too late!Takeaways:Estate planning mistakes can totally wreck the legacy you worked hard to build, so don't wing it! Understanding the importance of tax planning is crucial; it's more than just numbers, folks! Your financial planner should be a matchmaker, pairing you with the right expertise and personality; it's a vibe! Financial freedom is about knowing how to use your savings—don't just hoard them, spend thoughtfully! Engaging in ongoing financial planning means adapting to life changes, not just checking off a transactional box. Creative solutions in financial planning can unlock opportunities you never knew existed—think outside the box! ______________________________________________________________Thanks to our sponsor, S.E.E.D. Planning Group! S.E.E.D. is a fee-only financial planning firm with a fiduciary obligation to put your best interest first. Schedule your free discovery meeting at www.seedpg.comYou can watch all episodes, as well as other great content produced by NQR Media through their YouTube channel at https://youtube.com/@NQRMedia
This episode of the Ditch the Suits focuses on the critical importance of estate planning and the common mistakes people make in this area. Travis and Steve welcome Jessica Blake, a Senior Wealth Manager and Certified Trust & Fiduciary Advisor (CTFA) from S.E.E.D. Planning Group, with extensive experience in estate planning, to share her insights. They discuss what constitutes an adequate estate plan and debunk the misconception that it's merely about having a will or life insurance. Jessica emphasizes the value of understanding the intricacies of estate planning, including tax implications and the potential for family conflict when things go awry. She also discusses the significance of the CTFA credential, the role of fiduciaries, and the transition from estate planning to comprehensive financial planning.You will appreciate Jessica's engaging anecdotes and the collaborative culture at S.E.E.D. Planning Group, which allows for a more holistic approach to financial and estate planning.Takeaways:Estate planning encompasses much more than just creating a will or purchasing life insurance; it's a comprehensive process. Having an adequate estate plan is crucial to avoid common mistakes and conflicts among heirs. An effective estate planner must understand various aspects, including tax implications and investment strategies. The CTFA designation indicates a deep understanding of trusts, fiduciary responsibilities, and estate planning complexities. Jessica emphasizes the importance of teamwork and mentorship in providing effective financial planning services. Being a fiduciary allows planners to prioritize clients' best interests without corporate constraints. ______________________________________________________________________________________________________________Thanks to our sponsor, S.E.E.D. Planning Group! S.E.E.D. is a fee-only financial planning firm with a fiduciary obligation to put your best interest first. Schedule your free discovery meeting at www.seedpg.comYou can watch all episodes, as well as other great content produced by NQR Media through their YouTube channel at https://youtube.com/@NQRMedia
Understanding your personal finances means treating them like a business, and that's exactly what this episode of Ditch the Suits emphasizes. Travis and Steve dive into the importance of recognizing yourself as the boss of your financial situation, encouraging listeners to engage with financial advisors as if they were hiring employees. They discuss the pitfalls of over-reliance on financial professionals who may not have your best interests at heart, and how to spot red flags in the financial services industry. Throughout the conversation, they highlight the necessity of being proactive and informed, ensuring that you delegate effectively while maintaining oversight of your financial decisions. This episode aims to empower listeners to take control of their money business and make informed choices for their financial future.Takeaways: Understanding your finances as a money business can empower you to make better financial decisions. When hiring a financial advisor, ensure they communicate in terms you understand clearly. Don't let intimidation from financial jargon prevent you from being an informed client. It's essential to treat your personal finances with the same diligence as running a business. Being proactive about your financial planning can save you from costly mistakes down the road. Look for financial planners who prioritize your best interests over their commission-based sales.
In our last episode, we did a status check on the state of the financial advice industry. We discussed that the term financial advisor is meaningless and how you can get more information on any potential financial advisor or firm you may consider working with. This episode is an open conversation about some of our experiences helping people find real value via financial planning.This episode of Ditch the Suits dives deep into the true value of financial planning and the importance of working with a fiduciary financial planner. We share experiences from our combined 25+ years working in the financial services industry, emphasizing how the term "financial advisor" can often be misleading. We argue that many individuals are unaware of the real benefits of fee-only financial planning and how it can lead to better financial decisions and outcomes. Through personal stories and insights, we illustrate the transformative impact that thoughtful financial guidance can have on people's lives, especially during pivotal moments. Listeners are encouraged to rethink their approach to financial advice and consider how transparent, client-focused planning can empower them to achieve their goals.Takeaways:The term 'financial advisor' is often misused, making it crucial to understand what a financial planner truly offers. Fee-only financial advisors are recommended for their transparency and commitment to client interests without conflicts of interest. Understanding your financial needs is essential; not everyone knows what they need without guidance. Financial planning should focus on a client's unique situation rather than a one-size-fits-all approach. Advisors should empower clients to make informed decisions and alleviate fears surrounding financial choices. Building a trusting relationship is vital; clients should feel comfortable exploring options without pressure.
Have you ever thought “should I work with a financial advisor” or if you already do, “do I need a second opinion?” Or maybe, “aren't all financial advisors the same?” In this episode you'll get the answer to these questions and more as we dig into the state of the financial advisor industry.Should you hire a financial advisor? This question lies at the heart of the latest discussion on the Ditch the Suits podcast, where hosts Travis and Steve peel back the layers of the financial services industry. They explore the different types of financial professionals, clarifying the distinctions between advisors and planners and emphasizing the importance of understanding the motivations behind the advice you receive. They tackle common misconceptions that lead consumers to make uninformed decisions, highlighting the critical need for transparency and fiduciary duty in financial planning. As they share their experiences, listeners are equipped with the knowledge to discern what genuine financial guidance looks like, ensuring they find a professional who truly has their best interests at heart.Takeaways: The financial industry is complex, and not all financial advisors provide the same services. Understanding the differences between financial advisors, investment managers, and insurance agents is crucial. Consumers should be aware that many financial advisors primarily focus on product sales rather than holistic planning. A fee-only financial planner is often a better choice for comprehensive financial guidance. Many people are unaware of the actual fiduciary obligations of their financial advisors. Transparency in financial planning is vital; always ask questions and get everything in writing. ______________________________________________________________Thanks to our sponsor, S.E.E.D. Planning Group! S.E.E.D. is a fee-only financial planning firm with a fiduciary obligation to put your best interest first. Schedule your free discovery meeting at www.seedpg.comYou can watch all episodes, as well as other great content produced by NQR Media through their YouTube channel at https://youtube.com/@NQRMedia
The holiday season brings a unique blend of reflection and anticipation for us on the Ditch the Suits podcast. In this episode, we take a moment to appreciate our journey over the past year, celebrating a remarkable 34% growth in listenership. We're excited to share updates to our content strategy, including guest interviews and deeper dives into key topics, to offer varied insights from active professionals in financial planning.A central theme of this discussion is the significance of personal connections during this busy time. We explore how financial planning should never come at the expense of meaningful relationships. Steve shares a moving story about the fleeting nature of time with loved ones, urging all of us to reflect on the importance of cherishing those moments. We encourage prioritizing relationships over material wealth, emphasizing that true fulfillment lies in connections with family and friends.As we look ahead to 2025, we aim to inspire listeners to pursue gradual improvements without perfectionism. Growth, we believe, is about small, meaningful changes over time. By fostering a supportive community where we can all share experiences, we hope to empower each other to take charge of our financial futures while enjoying the journey alongside loved ones.______________________________________________________________Thanks to our sponsor, S.E.E.D. Planning Group! S.E.E.D. is a fee-only financial planning firm with a fiduciary obligation to put your best interest first. Schedule your free discovery meeting at www.seedpg.comYou can watch all episodes, as well as other great content produced by NQR Media through their YouTube channel at https://youtube.com/@NQRMedia
Join us as we dive into a comprehensive recap of the past year's highlights from our Ditch the Suits podcast. This episode reflects on the critical financial insights we've shared, focusing on the importance of understanding your money in the context of life and personal fulfillment. From navigating estate planning to tackling the complexities of bonds, we explore how our discussions have aimed to empower listeners with practical knowledge for their financial journeys. We also address the impact of current events, such as corporate profits and election cycles, on personal finance, emphasizing the need for informed decision-making. As we wrap up the year, we encourage you to revisit episodes that resonate with you, ensuring you're equipped to make the most of your financial future in 2025.Takeaways: We discuss the importance of aligning your financial planning with your life goals. Understanding estate planning is crucial, as many people are unaware of their current status. Debt can be a tool for wealth creation if used wisely and not abused. Navigating the complexities of corporate profits can help you make better investment decisions. It's essential to understand the tax code, as it can significantly impact your financial strategy. We emphasize the value of communication about financial matters within families.______________________________________________________________Thanks to our sponsor, S.E.E.D. Planning Group! S.E.E.D. is a fee-only financial planning firm with a fiduciary obligation to put your best interest first. Schedule your free discovery meeting at www.seedpg.comYou can watch all episodes, as well as other great content produced by NQR Media through their YouTube channel at https://youtube.com/@NQRMedia
This episode of the Ditch the Suits Podcast dives deep into the emotional and financial complexities that arise after losing a loved one.. Co-hosts Travis Maus and Steve Campbell emphasize the importance of taking time to grieve and not rushing into decisions, advocating for a thoughtful gap analysis to assess financial needs and future goals. They explore the potential emotional burdens tied to property ownership and the responsibility that comes with selling, particularly the concern for future buyers. The conversation highlights the necessity of understanding the intention behind financial decisions made by the deceased, ensuring that those left behind honor their legacy rather than feeling obligated to make irrational choices. With practical insights and heartfelt advice, this episode provides guidance to anyone navigating the difficult terrain of grief and financial planning.Takeaways: Navigating the loss of a loved one involves financial and emotional complexities that require careful consideration. It's crucial to allow yourself time to grieve without making hasty financial decisions. Owner financing can provide flexibility when selling property, but it carries its own risks. Understanding the true value of your assets helps avoid emotional decision-making during grief. Always assess your financial position before selling a property to avoid future hardships. Building a financial projection helps clarify your goals and the reality of your situation. ______________________________________________________________Thanks to our sponsor, S.E.E.D. Planning Group! S.E.E.D. is a fee-only financial planning firm with a fiduciary obligation to put your best interest first. Schedule your free discovery meeting at www.seedpg.comYou can watch all episodes, as well as other great content produced by NQR Media through their YouTube channel at https://youtube.com/@NQRMedia
This episode of the Ditch the Suits Podcast explores the profound challenges of rebuilding life after the loss of a loved one. It focuses on both the emotional and practical decisions that arise in the wake of such a life-altering event.A show follower asked Travis and Steve about their experience managing a family farm after losing a partner while also navigating the responsibility of caring for a mother who wants to remain nearby. Recognizing that many people may face similar struggles, Travis committed to dedicating two full episodes to help others navigate life after loss.Travis underscores the importance of open and honest conversations—with oneself and loved ones—as a key part of coping with grief and making decisions. He advises listeners to allow themselves six to twelve months to grieve before considering any major life changes.Through personal stories and professional insights, Travis and Steve highlight the importance of understanding one's own emotions and desires while being mindful of the needs and feelings of those left behind.Show TakeawaysGrieving is a personal process that can take six to twelve months and should not be rushed.It's crucial to have open conversations about death and legacy while loved ones are still present.Avoid making financial decisions immediately after a loss; give yourself time to think.Engaging in difficult conversations with family members can prevent misunderstandings and guilt later on.Consider the emotional significance and practicality of maintaining shared properties after a loss.Focus on the legacy you want to create rather than simply the loss you feel.______________________________________________________________Thanks to our sponsor, S.E.E.D. Planning Group! S.E.E.D. is a fee-only financial planning firm with a fiduciary obligation to put your best interest first. Schedule your free discovery meeting at www.seedpg.comYou can watch all episodes, as well as other great content produced by NQR Media through their YouTube channel at https://youtube.com/@NQRMedia
This episode of Ditch the Suits Podcast delves into the intricate world of financial planning, particularly as the year draws to a close. Hosts Steve Campbell and Travis Maus discuss practical actions that individuals can take before the end of the year, emphasizing the importance of understanding capital gains and the potential benefits of tax loss harvesting. The discussion highlights the distinction between short-term and long-term capital gains and the associated tax implications, guiding listeners to make informed decisions about their investments. Moreover, they introduce charitable giving strategies, such as Qualified Charitable Distributions (QCDs) and Donor Advised Funds (DAFs), which can empower listeners to support their favorite causes while optimizing their tax situations.As the conversation unfolds, Travis and Steve challenge common misconceptions about capital gains and tax strategies. They encourage listeners to reflect on their financial decisions and consider how different approaches can impact their tax brackets and overall wealth. The dialogue transitions into a discussion about gifting to children, addressing the nuances of instilling financial responsibility and planning for future generations. Steve and Travis underscore the significance of understanding one's financial landscape and utilizing strategic gifting to enhance not just individual wealth but also family legacy. This episode stands out as a comprehensive guide for anyone looking to navigate the complexities of year-end financial planning, leaving listeners with actionable insights to improve their financial well-being.
This episode of the Ditch the Suits podcast gives practical financial insights that can significantly impact your money management strategies. Steve Campbell and Travis Maus emphasize the importance of completing a personal tax assessment, which acts as a mock tax return to identify potential opportunities and gaps in your financial planning. They also discuss the critical need to revisit your 401(k) contribution strategy, highlighting the risks of overfunding and underfunding these accounts. The conversation touches on the benefits of Roth conversions, particularly for those who may find themselves in higher tax brackets in the future. Additionally, the hosts explore the evolving benefits of 529 savings accounts, stressing how they can be utilized for a broader range of educational expenses beyond just college tuition.______________________________________________________________Thanks to our sponsor, S.E.E.D. Planning Group! S.E.E.D. is a fee-only financial planning firm with a fiduciary obligation to put your best interest first. Schedule your free discovery meeting at www.seedpg.comYou can watch all episodes, as well as other great content produced by NQR Media through their YouTube channel at https://youtube.com/@NQRMedia
This episode focuses on practical financial strategies for preparing for the end of the year and setting yourself up for success in the coming year. Travis and Steve discuss the importance of revisiting your budget, emphasizing that it should be a flexible tool rather than a rigid constraint. They introduce the concept of an income-sourcing plan for those approaching retirement, highlighting how to draw from various accounts to optimize tax efficiency effectively. Additionally, they reveal the hidden benefit of receiving extra paychecks throughout the year, which can be leveraged for debt reduction or savings. The conversation is packed with actionable insights aimed at helping listeners take control of their financial futures, making it a valuable resource for anyone looking to improve their financial well-being.______________________________________________________________Thanks to our sponsor, S.E.E.D. Planning Group! S.E.E.D. is a fee-only financial planning firm with a fiduciary obligation to put your best interest first. Schedule your free discovery meeting at www.seedpg.comYou can watch all episodes, as well as other great content produced by NQR Media through their YouTube channel at https://youtube.com/@NQRMedia
In this episode of Ditch the Suits, Steve Campbell and Travis Maus discuss the hidden costs of a high salary. They emphasize that financial freedom is more than just money and that stress and anxiety can lead to an unfulfilled life. The conversation explores whether a high salary equates to job satisfaction and personal happiness, the importance of considering the benefits package, and the possibility of making more money by earning less salary. They also discuss the impact of geography on salary and the need to reframe the conversation around salary and future prospects.__________________________________________________________Join our Skool Community at https://www.skool.com/ditch-the-suits-9234. You can interact with us, ask questions and get additional resources.Thanks to our sponsor, S.E.E.D. Planning Group! S.E.E.D. is a fee-only financial planning firm with a fiduciary obligation to put your best interest first. Schedule your free discovery meeting at www.seedpg.comYou can watch all episodes, as well as other great content produced by NQR Media through their YouTube channel at https://youtube.com/@NQRMedia
In this episode of Ditch the Suits, Steve Campbell and Travis Maus discuss the mistakes people make when selling a house or a business. They highlight the concept of anchoring bias, where individuals become fixated on a specific number and are unwilling to consider other options. They provide examples of how this bias can lead to financial losses and missed opportunities. The conversation covers the importance of considering the broader context, such as taxes, terms of the deal, and opportunity costs. Together, they emphasize the need for a comprehensive understanding of the numbers and the value they represent.______________________________________________________________Thanks to our sponsor, S.E.E.D. Planning Group! S.E.E.D. is a fee-only financial planning firm with a fiduciary obligation to put your best interest first. Schedule your free discovery meeting at www.seedpg.comYou can watch all episodes, as well as other great content produced by NQR Media through their YouTube channel at https://youtube.com/@NQRMedia
Part 2 of the Proposed Tax Policy Grab Bag delves into the potential repercussions of proposed tax legislation that could significantly impact wealth creation and financial mobility, particularly for middle-class individuals and small business owners. We discuss how changes to capital gains taxes, eliminating the step-up basis at death, and increased taxes on stock buybacks could lead to double taxation and hinder economic growth. We emphasize the importance of understanding these complex tax policies, as they may affect not only those in high-income brackets but also everyday Americans striving for financial stability. Our conversation highlights the need for vigilance and proactive financial planning in light of these legislative changes, which could have long-lasting effects on future generations. By unpacking these intricate issues, we hope to empower you to navigate the evolving financial landscape and make informed decisions about your money.______________________________________________________________Thanks to our sponsor, S.E.E.D. Planning Group! S.E.E.D. is a fee-only financial planning firm with a fiduciary obligation to put your best interest first. Schedule your free discovery meeting at www.seedpg.comYou can watch all episodes, as well as other great content produced by NQR Media through their YouTube channel at https://youtube.com/@NQRMedia
This episode delves into the potential impact of proposed tax policy changes that could significantly affect Americans, particularly those making over $400,000, and the broader implications for everyday citizens. We discuss how these tax changes, including increases on capital gains and the introduction of new taxes, may not only target high earners but could also trickle down to the average person in various ways. We emphasize the importance of understanding that tax policies can influence the economy as a whole, affecting prices and investment opportunities. We also highlight the misconception that only the wealthy will bear the burden of these tax increases, illustrating how small business owners and individuals experiencing wealth creation events could also face substantial tax liabilities. We encourage you to stay informed about these changes and consider how they might impact your financial future and the economy at large.______________________________________________________________Thanks to our sponsor, S.E.E.D. Planning Group! S.E.E.D. is a fee-only financial planning firm with a fiduciary obligation to put your best interest first. Schedule your free discovery meeting at www.seedpg.comYou can watch all episodes, as well as other great content produced by NQR Media through their YouTube channel at https://youtube.com/@NQRMedia
This episode into the controversial proposal of taxing unrealized capital gains, a measure that could have far-reaching consequences for individuals and the economy at large. Hosts Steve Campbell and Travis Maus break down the implications of such a tax, emphasizing that it not only targets the ultra-wealthy but could also negatively impact everyday Americans. They discuss how taxing assets that have not been sold creates a precarious situation where individuals might be forced to liquidate holdings to pay taxes on hypothetical gains, potentially destabilizing markets and affecting job security. The conversation highlights the ripple effects of such policies, illustrating how they could lead to diminished investment returns and economic uncertainty for all. By examining real-world scenarios and economic principles, the hosts aim to equip listeners with a clearer understanding of the risks associated with these proposed tax changes.______________________________________________________________Thanks to our sponsor, S.E.E.D. Planning Group! S.E.E.D. is a fee-only financial planning firm with a fiduciary obligation to put your best interest first. Schedule your free discovery meeting at www.seedpg.comYou can watch all episodes, as well as other great content produced by NQR Media through their YouTube channel at https://youtube.com/@NQRMedia
We continue our series by taking a critical look at the proposed taxation of unrealized capital gains, a topic that has stirred considerable debate among financial experts and policymakers. We initiate the conversation by defining unrealized gains—the increase in value of an asset that has not yet been sold—and how the proposed tax would apply primarily to individuals with substantial wealth, specifically those with assets exceeding $100 million. We argue that while the tax might seem targeted at the ultra-wealthy, its implications could have far-reaching effects on the economy and individuals across various financial brackets.We then pivot and delve into the potential consequences of such a tax, discussing how taxing unrealized gains could force individuals to sell investments to pay tax liabilities, thereby disrupting markets and causing volatility. We explore the fundamental unfairness of taxing income that has not yet been realized, questioning how this could affect personal financial decisions and overall financial planning. Additionally, we address the ethical considerations surrounding the enforcement of an unrealized gains tax, particularly the challenges of valuing non-liquid assets and the potential for disputes over asset valuations. We warn of the bureaucratic complexities that would arise from implementing such a tax, including the burden on taxpayers to provide accurate appraisals and the risk of unfair penalties from the IRS. As we conclude the episode, we emphasize the importance of staying informed and engaged with financial policy discussions, urging all of you to consider how these issues could affect your own financial futures and to prepare accordingly.______________________________________________________________Thanks to our sponsor, S.E.E.D. Planning Group! S.E.E.D. is a fee-only financial planning firm with a fiduciary obligation to put your best interest first. Schedule your free discovery meeting at www.seedpg.comYou can watch all episodes, as well as other great content produced by NQR Media through their YouTube channel at https://youtube.com/@NQRMedia
**We are pausing our current series to bring you five timely episodes surrounding suggested new tax policies**In this new series, we delve into the complexities of corporate taxation and its implications for individual investors. We argue that while raising taxes on corporations may seem like an attractive solution for increasing government revenue, the actual burden often trickles down to shareholders, employees, and consumers. This episode highlights the intricate flow of money through corporations, emphasizing that corporations are not standalone entities but rather integral components of the economy that directly impact personal finances. By increasing corporate taxes, the ripple effects can lead to reduced dividends, lower capital appreciation, and higher consumer prices. We stress the importance of understanding these dynamics, as they affect retirement savings and investment returns, making it crucial for listeners to grasp how such policies could impact their personal financial situations.______________________________________________________________Thanks to our sponsor, S.E.E.D. Planning Group! S.E.E.D. is a fee-only financial planning firm with a fiduciary obligation to put your best interest first. Schedule your free discovery meeting at www.seedpg.comYou can watch all episodes, as well as other great content produced by NQR Media through their YouTube channel at https://youtube.com/@NQRMedia
In this episode of the Ditch the Suits podcast, Steve Campbell and Travis Maus discuss why net worth is the wrong number to track for financial freedom. They emphasize that financial freedom is not just about money, but also about living a fulfilling life free from stress and anxiety. They explore why people stress about the volatility of their net worth and the value of their future estate. Travis explains that people's fixation on net worth is rooted in social pressure and the misconception that it determines their worth and flexibility. They also discuss the difference between price and value and the importance of understanding the true value of assets. Travis provides insights on how to reframe the conversation around net worth and focus on what really matters, such as educating children about finance, investing for the long term, and preparing heirs to manage wealth responsibly.__________________________________________________________Join our Skool Community at https://www.skool.com/ditch-the-suits-9234. You can interact with us, ask questions and get additional resources.Thanks to our sponsor, S.E.E.D. Planning Group! S.E.E.D. is a fee-only financial planning firm with a fiduciary obligation to put your best interest first. Schedule your free discovery meeting at www.seedpg.comYou can watch all episodes, as well as other great content produced by NQR Media through their YouTube channel at https://youtube.com/@NQRMedia
In this episode of the Ditch the Suits podcast, Steve Campbell and Travis Maus discuss the question of whether you really need a million dollars to retire. They explore the concept of financial freedom and how it is not just about money but also about living a fulfilling life. They challenge the idea of setting arbitrary financial goals and emphasize the importance of understanding one's own unique needs and circumstances. The conversation highlights the societal pressure to compare oneself to others and the need to have a better conversation around what truly matters. The four main takeaways from the episode are: stop comparing yourself to others on the internet, understand your resources and how they can work for you, focus on cash flow and liabilities, and prioritize financial planning over investment decisions.__________________________________________________________Join our Skool Community at https://www.skool.com/ditch-the-suits-9234. You can interact with us, ask questions and get additional resources.Thanks to our sponsor, S.E.E.D. Planning Group! S.E.E.D. is a fee-only financial planning firm with a fiduciary obligation to put your best interest first. Schedule your free discovery meeting at www.seedpg.comYou can watch all episodes, as well as other great content produced by NQR Media through their YouTube channel at https://youtube.com/@NQRMedia
In this episode, Steve and Travis discuss the impact of the media on our perception of current events and how it can influence our financial decisions. They highlight the framing techniques used by the media to shape our understanding of issues and the biases that can be present. They also provide examples of how the media has portrayed presidential candidates in the past and the negative tone often used in news coverage. The hosts emphasize the importance of being aware of these influences and taking a rational approach to financial decision-making.Episode References:State University of New York - https://courses.lumenlearning.com/atd-monroecc-americangovernment/chapter/the-impact-of-the-media/ Harvard Kennedy School – Shorenstein Center - https://shorensteincenter.org/patterson-2020-election-coverage/ Brookings Edu - https://www.brookings.edu/articles/is-the-economic-news-becoming-more-negative-and-does-it-matter-for-consumers/ ________________________________________________________________Join our Skool Community at https://www.skool.com/ditch-the-suits-9234. You can interact with us, ask questions and get additional resources.Thanks to our sponsor, S.E.E.D. Planning Group! S.E.E.D. is a fee-only financial planning firm with a fiduciary obligation to put your best interest first. Schedule your free discovery meeting at www.seedpg.comYou can watch all episodes, as well as other great content produced by NQR Media through their YouTube channel at https://youtube.com/@NQRMedia
In this episode, Steve and Travis discuss the impact of inflation and the importance of understanding compound interest. They emphasize that inflation is a real concern and can erode the value of money over time. They explain how compound interest works and how it can help grow wealth. They also highlight the dangers of being too conservative and not taking enough risk to combat inflation. The episode concludes with a discussion on the role of media and news in shaping financial decisions.________________________________________________________________Join our Skool Community at https://www.skool.com/ditch-the-suits-9234. You can interact with us, ask questions and get additional resources.Thanks to our sponsor, S.E.E.D. Planning Group! S.E.E.D. is a fee-only financial planning firm with a fiduciary obligation to put your best interest first. Schedule your free discovery meeting at www.seedpg.comYou can watch all episodes, as well as other great content produced by NQR Media through their YouTube channel at https://youtube.com/@NQRMedia
In this episode, Steve and Travis discuss the concept of DEI (Diversity, Equity, and Inclusion) and its impact on ESG (Environmental, Social, and Governance) investing. They explain that DEI is a relatively new hot topic and how it has become a part of the socially responsible investing space. They highlight the importance of understanding the definitions of ESG and SRI (Socially Responsible Investing) and how companies are using these concepts for PR purposes. They also discuss the challenges of investing based on trends and the need for individual investors to define their own values and build a portfolio that aligns with those values.notes________________________________________________________________Join our Skool Community at https://www.skool.com/ditch-the-suits-9234. You can interact with us, ask questions and get additional resources.Thanks to our sponsor, S.E.E.D. Planning Group! S.E.E.D. is a fee-only financial planning firm with a fiduciary obligation to put your best interest first. Schedule your free discovery meeting at www.seedpg.comYou can watch all episodes, as well as other great content produced by NQR Media through their YouTube channel at https://youtube.com/@NQRMedia
In this episode, Steve Campbell and Travis Maus discuss the concept of irreparable harm to your investment portfolio and how to avoid it. They emphasize the importance of understanding the difference between price and value when making investment decisions. They also highlight the significance of diversification and the correlation coefficient in managing risk and maximizing returns. The episode concludes with a reminder to seek professional advice and support in implementing these strategies.________________________________________________________________Join our Skool Community at https://www.skool.com/ditch-the-suits-9234. You can interact with us, ask questions and get additional resources.Thanks to our sponsor, S.E.E.D. Planning Group! S.E.E.D. is a fee-only financial planning firm with a fiduciary obligation to put your best interest first. Schedule your free discovery meeting at www.seedpg.comYou can watch all episodes, as well as other great content produced by NQR Media through their YouTube channel at https://youtube.com/@NQRMedia
In this episode, Steve Campbell and Travis Maus discuss the topic of mutual funds and why investors may receive a tax bill even when they lose money. They emphasize the importance of understanding net earnings and how much money actually ends up in your pocket after taxes and fees. They explain that mutual funds are required to make regular capital gains distributions to shareholders, which can result in unexpected tax bills. They also discuss the concept of diversification and the potential drawbacks of owning multiple mutual funds. Finally, they suggest that investors consider creating their own personalized portfolios to have more control over their investments and potentially reduce taxes and fees.________________________________________________________________Join our Skool Community at https://www.skool.com/ditch-the-suits-9234. You can interact with us, ask questions and get additional resources.Thanks to our sponsor, S.E.E.D. Planning Group! S.E.E.D. is a fee-only financial planning firm with a fiduciary obligation to put your best interest first. Schedule your free discovery meeting at www.seedpg.comYou can watch all episodes, as well as other great content produced by NQR Media through their YouTube channel at https://youtube.com/@NQRMedia
In this episode, Steve Campbell and Travis Maus continue their series on improving net earnings. They discuss the importance of understanding and evaluating investment fees. They explain the different types of investment fees, including sales commissions, product fees, management fees, transaction fees, and advice fees. They emphasize the need to be aware of the fees you are paying and to determine if they are worth the value you are receiving. They also highlight the potential savings that can be achieved by reducing investment fees and provide tips for evaluating and negotiating fees with financial professionals.________________________________________________________________Join our Skool Community at https://www.skool.com/ditch-the-suits-9234. You can interact with us, ask questions and get additional resources.Thanks to our sponsor, S.E.E.D. Planning Group! S.E.E.D. is a fee-only financial planning firm with a fiduciary obligation to put your best interest first. Schedule your free discovery meeting at www.seedpg.comYou can watch all episodes, as well as other great content produced by NQR Media through their YouTube channel at https://youtube.com/@NQRMedia
In this episode, Steve and Travis discuss the importance of understanding tax codes and the types of investment accounts.They emphasize the need to educate oneself about the tools available and how to use them to increase net earnings. They categorize accounts into retirement tax-advantaged accounts, annuities, and regular investment accounts. They also highlight the significance of considering factors such as age, risk, and product limitations when making investment decisions. The episode concludes with a reminder to have a comprehensive financial plan that guides investment choices.________________________________________________________________Join our Skool Community at https://www.skool.com/ditch-the-suits-9234. You can interact with us, ask questions and get additional resources.Thanks to our sponsor, S.E.E.D. Planning Group! S.E.E.D. is a fee-only financial planning firm with a fiduciary obligation to put your best interest first. Schedule your free discovery meeting at www.seedpg.comYou can watch all episodes, as well as other great content produced by NQR Media through their YouTube channel at https://youtube.com/@NQRMedia
Want to get in touch? Send us a text!In this episode, Travis and Steve discuss when to fund a Roth IRA and when not to. They emphasize the importance of understanding net earnings and the framework of financial projections. They explain the difference between a Roth IRA and a traditional IRA, highlighting the tax benefits and implications of each. They also discuss asset location and how it can optimize tax efficiency. The key takeaway is that financial planning should consider individual circumstances and future tax brackets to determine the best strategy for funding a Roth IRA.________________________________________________________________Thanks to our sponsor, S.E.E.D. Planning Group! S.E.E.D. is a fee-only financial planning firm with a fiduciary obligation to put your best interest first. Schedule your free discovery meeting at www.seedpg.com You can watch all episodes, as well as other great content produced by NQR Media through their YouTube channel at https://youtube.com/@NQRMedia
Want to get in touch? Send us a text!In this episode, Steve and Travis discuss three ideas to supercharge your charitable donations and save on taxes. The first idea is to use a donor-advised fund (DAF) to group your charitable donations together and take a larger deduction. The second idea is to donate highly appreciated stocks instead of cash, which allows you to avoid capital gains taxes. The third idea is to make qualified charitable distributions (QCDs) from your IRA, which can offset your required minimum distributions (RMDs) and reduce your taxable income. These strategies can help you maximize your charitable deductions and keep more money in your pocket. #taxes #charitabledonations #taxplanning________________________________________________________________Thanks to our sponsor, S.E.E.D. Planning Group! S.E.E.D. is a fee-only financial planning firm with a fiduciary obligation to put your best interest first. Schedule your free discovery meeting at www.seedpg.com You can watch all episodes, as well as other great content produced by NQR Media through their YouTube channel at https://youtube.com/@NQRMedia
Want to get in touch? Send us a text!In this episode, we discuss how to make money by leveraging debt. We explain the concept of spreads, which is the difference between the interest rate you borrow money at and the rate of return you can make by investing that money. We emphasize the importance of understanding income taxes and how they impact spreads. They also discuss the mindset shift from viewing cash as savings to viewing it as capital that can be invested or used to pay liabilities. The key takeaway is that leveraging good debt and managing spreads and income taxes can help build a bigger future balance sheet and cash flow.________________________________________________________________Thanks to our sponsor, S.E.E.D. Planning Group! S.E.E.D. is a fee-only financial planning firm with a fiduciary obligation to put your best interest first. Schedule your free discovery meeting at www.seedpg.com You can watch all episodes, as well as other great content produced by NQR Media through their YouTube channel at https://youtube.com/@NQRMedia
Want to get in touch? Send us a text!In this episode, we discuss the concept of running your personal finances like a business. We emphasize the importance of understanding your cash flow, liabilities, and assets, and using debt strategically to improve your balance sheet. We also highlight the need to focus on both current and future cash flow and to consider the long-term impact of financial decisions. The key takeaway is to not be afraid of using debt to improve your financial situation and to prioritize your financial goals.________________________________________________________________Thanks to our sponsor, S.E.E.D. Planning Group! S.E.E.D. is a fee-only financial planning firm with a fiduciary obligation to put your best interest first. Schedule your free discovery meeting at www.seedpg.com You can watch all episodes, as well as other great content produced by NQR Media through their YouTube channel at https://youtube.com/@NQRMedia
Want to get in touch? Send us a text!In this episode, we discuss the idea of debt and challenge the notion that all debt is bad. We emphasize the importance of understanding the purpose and value of debt, as well as the interest rate and how it compares to other cash usage opportunities. We also caution against insecurity masking as pride and making decisions based on societal expectations. This episode provides a framework for evaluating debt and making informed financial decisions.________________________________________________________________Thanks to our sponsor, S.E.E.D. Planning Group! S.E.E.D. is a fee-only financial planning firm with a fiduciary obligation to put your best interest first. Schedule your free discovery meeting at www.seedpg.com You can watch all episodes, as well as other great content produced by NQR Media through their YouTube channel at https://youtube.com/@NQRMedia
Want to get in touch? Send us a text!How do you navigate the tricky waters of talking money with your family? Today, we promise you'll gain insight into normalizing these vital conversations, making them less daunting and more productive. We explore why financial discussions with children and family members can be so challenging and the harmful effects of avoiding these conversations. Through real-life examples, we'll show you how to turn these difficult discussions into opportunities for fostering financial wisdom and preparedness.Imagine teaching your kids about money and values in a way that sticks with them for life. This episode covers the parental responsibility of imparting financial wisdom and the risks involved when this education is left to unreliable sources. Even if these conversations haven't started early, we'll equip you with strategies to overcome these challenges and ensure your children grow up financially literate and accountable.And it doesn't end there—practical advice is at your fingertips! Learn how to initiate money conversations with your kids, regardless of your financial background. We provide fun exercises like budgeting during shopping trips and discuss future salaries during college visits. We'll also talk about distinguishing between needs and wants in financial planning, and the importance of having a unified approach with your spouse. Turn everyday moments into teachable ones and build a financially responsible family prepared for future success.______________________________________________________________JUNE GIVEAWAY!!Want to win a sweet pair of Florsheim shoes?Fill out this form at https://www.ditchthesuits.com/contact for a chance to win!________________________________________________________________Thanks to our sponsor, S.E.E.D. Planning Group! S.E.E.D. is a fee-only financial planning firm with a fiduciary obligation to put your best interest first. Schedule your free discovery meeting at www.seedpg.com You can watch all episodes, as well as other great content produced by NQR Media through their YouTube channel at https://youtube.com/@NQRMedia