It's All About the $Money, Honey!

Of all the classes of assets people can invest in, the one that seems to attract the most interest, but has the least amount of understanding, is alternatives. For many people, the idea of investing in alternatives is exciting, exclusive, and maybe a bit dangerous. Promising huge potential returns, alternatives can be a great way to multiply your wealth, or lose it all. In this episode, we discuss three of the most popular types of alternatives, Private Equity, Hedge Funds, and Real Estate Investment Trusts. And later, we'll visit with Lisa Ward, CFP® to discuss what really is a financial plan.

It was hard to ignore the big financial story from the past few weeks. We're talking about tariffs. President Trump announced tariffs on imports from Canada, Mexico, and China and, not surprisingly, the stock market reacted negatively.  Tariffs have a lot of Americans nervous about the future for our economy, yet recent history suggests they might not be such a big deal. In this episode, we examine the potential impact of these tariffs and whether or not they will happen at all.

There is more to life than accumulating wealth. What's the point of saving it unless you choose to spend some of it? One of the biggest expenses for many retirees is travel, with air fare making up a large percentage of that. Yet, who has time to scour the internet for the best deals on flights? In this episode, we share an app you can download to your smartphone that not only saves you money on flights, but also notifies you when a preferred destination is on sale.

One question we get quite frequently is "Should I consider using Roth accounts?" Like almost every financial question, the answer is, 'It depends." While using Roth accounts won't really make any difference in the investment choices you make, they can have major impacts on your future taxes. Choosing to use Roth accounts or Roth Conversions is a judgment call based on your specific goals and needs. In this episode, we examine situations where using tax-free Roth accounts in your retirement plan could give you a significant advantage in retirement.

It's often said that the only things certain in life are death and taxes. However, there is one missing from that list. One thing that is absolute certain is uncertainty. Change is inevitable and this includes the economy and market. Still, while we can't predict what or when changes will occur, it is possible to take steps to prepare your money. In this episode, we share how to navigate financial changes with tried and true strategies.

Every new year brings new financial rules and laws that impact our money and the financial decisions we make. As we begin 2025, this year is no different. Changes to Medicare, Social Security, taxes, and 401k plans have all taken effect and it's vital that you know what's changing and how they will impact you.

As 2025 approaches, there will be no shortage of headlines that dominate the news in the coming months. Among those are financial headlines that will likely have significant impacts on the economy and market. In this episode, we reveal the top financial headlines for 2025 we will be watching. And later, we will share a better way for setting New Year's Resolutions that ensures a much higher probability you will achieve your big goals.

Millionaires have a very low probability of running out of money in retirement. Yet, there are those that are very happy, contented, and living their best lives and there are those that are unhappy, stressed, and always chasing more. How can there be such a disparity in the the experiences of people with similar financial resources? In this episode, we share common characteristics of The Unhappily Rich. Later, we reveal some of the most popular AI features on Apple and Samsung phones you probably aren't using.

More than 66 percent of Americans have no estate plan of their choosing and are relying on courts and state laws to decide what happens to their lifetime of accumulated assets after they pass away. Sadly, the people that are impacted most are the loved ones left behind. In this episode, we discuss why creating an estate plan is the ultimate gift of love to your family. And later, we share why a financial plan is the perfect gift to give the younger members of your family this Christmas.

Studies show that those who live to the age of 65 have a 70 percent probability of needing some type of long-term care at some point in their lives. As human life expectancy grows, this fact makes it more likely that children will become caregivers for aging parents. In this episode, we examine some of the actual experiences of clients we serve and how they have handled the significant challenges and burdens of becoming a caregiver. Then later, we share some of our strategies for reducing or even eliminating taxes in retirement.

Most of your life will be spent in the accumulation phase of managing your wealth. The goal is to grow your nest egg so that when you retire, it's as big as possible. However, there will come a time when the primary goal is to preserve and spend your wealth in retirement. This is called the decumulation phase and mastering it takes a totally different mindset than the growth phase. In this episode, we reveal why having a growth mindset in retirement can actually hurt you. Later, we discuss year-end charitable giving strategies you can use to reduce your tax bill.

While having a lot of money in retirement can certainly make life easier and more enjoyable, it does not guarantee happiness. What truly makes wealthy retirees happy is what they do with the wealth they have. In this episode, we reveal 5 key habits happy retirees share. And later, we share simple strategies you can use to put your lazy cash to work.

Approximately 90 percent of wealthy families will see their accumulated wealth disappear within three generations. It shouldn't be surprising that the generations who had little or no role in creating the wealth have little respect for how hard it was to earn it and preserve it. In this episode, we talk with Pam Mowry, CEO of Canterbury Voices, about the importance of shared vision and values among families and the role that philanthropy plays in a successful financial plan.

Most people have some idea about what their retirement will look like. Travel, spending time with family and friends, volunteering, etc. However, other things they thought would be important often turn out not to be. In this episode, we share 4 retirement realities that many people get wrong.

Preparing for retirement is a journey that takes planning and time with a multitude of decisions to make. Some, like how much cash flow you'll need each month, are pretty evident. Others are less so. These are the misunderstood and overlooked decisions you didn't even consider. In this episode, we share some of those spooky retirement decisions that hide like monsters under your bed, ready to scare you when least expected.

Most people think of planning for retirement as creating the perfect investment portfolio. That's definitely a big part. However, there are so many others parts that are easy to overlook, even by professional financial advisors. Often, they aren't thought of until there's a problem. In this episode, we share some interesting and little asked questions retirees face and how to deal with them.

Do you feel in total control of your financial choices? You buy or invest in something and believe you know exactly what to expect as a result. However, there are often unintended consequences from the financial choices we make. You pull one lever not realizing it could trigger others down the road you can't see. In this episode, we examine some common financial decisions people make and how to anticipate the consequences beyond your initial choice.

Hurricanes, wars, election tension, labor strikes? That was all in just the last week of September 2024. It doesn't matter the time or season, there will always be bad news that causes uncertainty and fear in the market. It can truly be a mad, mad, mad mad world. However, making financial decisions based on your emotional reactions to these headlines will usually end up costing you. On today's show, we are giving you the playbook we use for our Millionaire clients so you can avoid spending mad money.

As we near the 4th quarter of 2024, many year-end deadlines are approaching that impact you financially. This means you have just three short months, or less, to make some of the biggest financial decisions you will make all year long. In this episode, we share your year-end financial housekeeping list and options you should consider before the calendar turns to 2025.

It's often said the greatest fear retirees have is running out of money. While that is true, and probably always will be, it's not quite accurate enough. What retirees truly fear is not being able to generate income in retirement. This makes sense because choosing retirement is choosing 30+ years of voluntary unemployment. With no more paycheck from work, you must find a way to generate income in retirement. In this episode, we share our favorite strategies for building your retirement paycheck so you can keep doing all the things you enjoy.

While it's not a given, there is a high probability that we will soon see The Federal Reserve announce they are lowering interest rates. Naturally, many are asking, "How far and how fast will rates fall?" Regardless of when and how much interest rates decrease, what can we expect to happen when they do? In this episode, we share 5 things to expect as interest rates begin to fall and how you can use them to your advantage.

The Great Wealth Transfer is underway! As Baby Boomers age over the next decade, it is is expected that nearly $90 trillion in wealth will pass from them to their heirs. If you plan to leave a legacy to your family, at some point, they need to know your plans, where the money is, and what to do and whom to call should something happen to you. In this episode, we share the essential estate planning documents you should have to make the transition of your wealth to your heirs much smoother.

With Election Day just two months away, our thoughts begin turning to the Presidential race. Among the many things Americans will consider as they step up to the ballot box, the potential impacts to their families' financial futures will likely be near the top of the list. Of chief concern will be taxes. There are few things the economy and market care about in Washington, D.C., but taxes are one of them. In this episode, we compare the likely tax policies of the two Presidential candidates, Donald Trump and Kamala Harris.

If you haven't heard already, a massive data breach was recently reported involving the theft of more than 2 billion pieces of personal data, including, among many other things, Social Security Numbers of millions of Americans. It is very possible that every Social Security number was stolen, with the true scope of the breach yet to be understood. So, what should you do to protect yourself? In this episode, we share the exact steps we've advised our clients to take so you can protect yourself and your family from identity theft.

Have you ever heard someone say, "I love playing the stock market.”? Usually, they mean they enjoy trying to hit the big winners. It's a rush they get from guessing right. Sounds a lot like going to the casino, right? However, we rarely hear anyone say, “I love playing the interest rate market.” The impact of interest rates on your wealth is just as, and perhaps more, important as stock prices. Yet, so few investors actually understand what power interest rates truly have. In this episode, we share ways that you can use changing interest rates to your advantage.

With the threat of a recession still lurking, higher interest rates, and unemployment rising, it's no surprise that the market recently had a terrible, horrible, no-good, very bad week. This led a lot of investors to run for cover and proclaim the sky is falling. If you don't have a plan, this could well be the case. However, those that have prepared their money for whatever comes are much less fearful. In this episode, we share some simple strategies for surviving the stock market roller coaster and enjoying the ride a lot more than some of the people you know.

When you become a Millionaire, lots of opportunities will come your way. It will also cause you to have a lot more questions. As these questions pile up, you may find yourself suffering from paralysis by analysis. A good wealth manager will help you focus on what's really important to consider and provide clarity. In this episode, we share some of the big questions Millionaires ask and insights into how we as advisors answer them.

Technology has allowed the entire world to stay connected at the click of a button. Almost anything you want is at your fingertips in seconds, including your financial information. Unfortunately, that means it's also available to criminals. Sadly, we can often be our own worst enemies by sharing our personal information too easily and not taking steps to protect ourselves. In this episode, we share real stories of recent fraud events and how we've helped our clients recover.

In a follow up to our previous episode on avoiding travel headaches, we share even more tips to help you travel like a pro including how to find hotel upgrades reserved for only the most well-connected travelers.

It's nearly the middle of summer which means a lot of people are or soon will be traveling. If you've traveled anywhere recently, particularly by plane, you've likely experienced delays, cancellations, bad weather, traffic, and all sorts of other problems. If you choose to travel, some of this comes with the territory. Still, there are things you can do to travel like a pro. In this episode, we share some of our favorite pro tips for making your summer travel heavenly rather than a headache.

If there is one thing that connects every single one of us, it is our distaste for paying taxes. Regardless of who you are or how much money you have, disinheriting Uncle Sam is one task that every American has on their to do list. Yet, while we are working to disinherit him, Uncle Sam has one major weapon in his arsenal to stymie us – changing the tax code. Beginning in 2026, major tax code changes are coming that will impact literally every American. In this episode, we share some of the biggest and what you can do now to prepare.

As you plan your retirement, you'll read and hear a lot about what to expect. Much of it will be true. However, some of it will be based on myths people believe. As with any myth, they are often based in some facts. Yet, as time goes by, the facts get twisted and it's hard to know what's real and what's not. In this episode, we share some of the biggest retirement myths people believe, what's really happening, and what you can do to prepare.

So long as you work to earn money and build wealth, there will be scammers, con artists, and criminals who make it their job to separate you from it. In this episode, we share some of the most common scams you'll run across and step you can take to protect yourself and help put those scammers in the slammer.

Perhaps more than any other financial strategy, there seems to be a deep love-hate relationship when it comes to insurance. We hate paying for it when we don't use it, but love it when we need it to save us from a catastrophic financial loss. In this episode, we share four situations when having insurance can really save you.

Our recent episode on 5 crucial retirement decisions you will have to make was so popular that we decided to follow it up with 5 more crucial retirement decisions. In this episode, we discuss retirement decisions ranging from tax minimization and Medicare to recovering from the loss of a loved one and how you'll spend your time. 

In order to plan for retirement, you have to make some assumptions about the future. These include assumptions like how long you'll live, the rate of inflation, and the expected rate of return you'll get. Some assumptions you make from educated estimates. Others you make because everyone else you know is also making them. In this episode, we share 4 assumptions a lot of people make about their retirement years that aren't as correct as you might think. We'll also share a new scam you need to know about so you can protect yourself.

Before and during retirement, there are massive decisions you will have to make and many of these can only be made one time. Unfortunately, the consequences of getting them wrong range from minor to catastrophic. In this episode, we discuss five crucial decisions you will have to make that will dictate the direction for your lifestyle and healthcare in retirement.

“The stock market is a device to transfer money from the impatient to the patient.” – Warren BuffettDealing with volatility is the price of admission for future returns. If you want to reap the wealth the market can provide, you've got to be willing to ride the downs as well as the ups. However, the consistent fear and negative headlines in the media make it difficult to stay focused on what's important – the long term. In this episode, we share why the average investor far underperforms the market and what you can do to stay calm when the market goes crazy.

At the beginning of each show, you hear us say “It's not what you earn, but what you keep.” Becoming wealthy takes work, discipline, and planning – but believe it or not, that's actually the easy part. Staying wealthy is harder, because typically, you're using your wealth in retirement, with no regular paycheck to replenish it. In this episode, we share 3 keys to staying wealthy and increasing the odds you don't run out of money.

We spend lots of time sharing what Millionaires are doing right so you can do what they do. However, perhaps even more instructive than what Millionaires do right is what they do wrong. Nobody's perfect and Millionaires make mistakes just like everyone else. In this episode, we share some of the biggest mistakes Millionaires make and how you can avoid them.

Beginning January 2026, the amount of wealth you can pass to heirs before triggering the dreaded estate tax is falling from more than $13 million per person to around $5 million. This means far more wealthy American families will be subject to estate taxes, which can erode 40% or more of your wealth. We know the change is coming. In this episode, we share how you can take steps now to minimize or eliminate the chances of negatively impacting you and your family.

Retiring is usually a one-day affair. You simply stop working. They throw you a party and that's it. However, RETIREMENT is a marathon that spans 30+ years. This means that your retirement plan needs to be designed to navigate every bump, pothole, landmine, mountain, ditch, and smooth stretch you'll experience. In this episode, we share how to create the ultimate All Terrain Retirement Plan.

The idea of a perfect retirement is different for everyone. However, there is one aspect of retirement planning that impacts, quite literally, everyone. It is the silent killer in your retirement plan, and each year, it slowly but inexorably eats away at your purchasing power. This silent killer is inflation. In this episode, we explore what causes inflation, the damage it can inflict, and how you can protect yourself from it. Later, we explain what Warren Buffet's favorite market indicator is saying about the near-term future of the market.

Private, family-owned businesses are the source of a large percentage of the $50 trillion expected to pass from Baby Boomers to their heirs over the next 10 to 15 years. They can also be the source of some of the greatest frustration and anxiety for families who are unprepared to make the transition properly. In this episode, we share our key considerations before selling a privately held family business to heirs and/or business partners.

Considering the number of decisions you'll have to make as you prepare for retirement, it's not a surprise that there are often a lot of mistakes made. Many times, a choice you thought was a great one at the time can end up having negative unintended consequences later. In this episode, we share what you need to know so you can anticipate those consequences and make better decisions to avoid them.

In the final few years leading up to retirement, there are dozens of decisions to be made and actions to be taken so you can you stroll into retirement with confidence. So what are they? How will you know if you're on track? Who can help you make the best decisions? In this episode, we share the Countdown to Retirement, the key things you should do beginning no later than 3 years prior to retirement. 

No one enjoys paying taxes. However, when you do pay them, don't complain about having a large tax bill too much, because it means you earned a lot of income. The thing to do is find ways to reduce, or even eliminate, the taxes you owe. In this episode, we reveal to you some of our favorite tax reduction strategies we use to help our clients. Later, we share why chasing the highest interest rates for your cash may not always be the best idea.

As a wealth building asset, real estate checks many boxes. Income production. Appreciation in value. Hedge against stock market volatility. Tax shelter. Legacy planning tool. In this episode, we visit with special guest Carol Hefner, VP at Cedars Commercial Real Estate and Development in Oklahoma City, to discuss the benefits and pitfalls of investing in real estate. Carol also shares her insights and advice on how to work with your family to create wealth and pass on your values to your heirs.

If you're an investor, you receive quarterly investment statements. Typically, they are several pages long and crammed with small print and numbers. Do you really need to pay attention to all of it? Which parts are most important to pay attention to? In this episode, we share the key things everyone should focus on in their quarterly investment statements, what to focus on while you're working, and what to focus on when you're retired.

It might seem like life with your money is one continuous journey. In reality, it's a series of transitions from one phase of life to another. Managing your money while in the prime of your career is different from the last few years of it. Retiring is one of the biggest transitions of all. What about the transition of caring for your aging parents? Finally, we all transition to the end of life when making sure our family is cared for is mot important. In this episode, we discuss some of the key transitions your life and your money make and how to manage them with confidence.

If you're a high-income earner, you are well aware of the fact that you pay more income tax on every dollar you earn. What you might not know about are some other hidden taxes and expenses you can trigger as your income increases. In this episode, we examine what can cause 85% of your Social Security to be taxed, how your Medicare premiums can skyrocket, and two taxes specifically aimed at wealthier families. We'll also share the latest tactic cyber-thieves are using to steal identities, Ghost Hacking.