The Life Money Balance™ Podcast

Should You Claim Social Security at 62?Dr. Preston Cherry challenges the idea that you have to wait until 70 to claim Social Security. For Gen Xers juggling aging parents and kids, claiming at 62 could offer more than just a check—it could bring peace of mind, flexibility, and better use of your money now. The key? Making the choice that fits your life, not someone else's rule of thumb.Takeaways:• More Flexibility Now• Less Portfolio Stress• Smart Tax Moves• Fits Gen X Life• Your Goals Matter00:00 Intro00:59 Should You Really Wait Until 70?03:52 Claiming Early as a Tax Strategy06:11 The Trap of Default Advice07:14 Final ThoughtsWant to learn more? Connect with us below!Stay informed and inspired! Join our FREE wealth & well-being newsletterDo you want confidence & clarity? Check out our award-winning wealth advice servicesGrab Your Copy of Dr. Cherry's book ‘Wealth In The Key of Life'Disclosure: episodes are educational only, not advice. Review our disclosures here: https://www.concurrentfp.com/disclosures/

In this episode, Dr. Preston Cherry breaks down why many high-income Gen Xers still feel stuck financially. Even with good paychecks, lifestyle creep and unclear goals can cause stress. Dr. Cherry explains how aligning your money with your values—not just chasing more—can lead to real peace and freedom. It's not about starving your present for your future. It's about balance.Takeaways:• Lifestyle creep adds stress• Align money with values• Spending shows priorities• Net worth ≠ freedom• Reroute cash, gain peaceWant to learn more? Connect with us below!Stay informed and inspired! Join our FREE wealth & well-being newsletterDo you want confidence & clarity? Check out our award-winning wealth advice servicesGrab Your Copy of Dr. Cherry's book ‘Wealth In The Key of Life'Disclosure: episodes are educational only, not advice. Review our disclosures here: https://www.concurrentfp.com/disclosures/

In this episode, Dr. Preston Cherry breaks down how Gen X professionals can use a smart tax strategy called Net Unrealized Appreciation (NUA) to turn company stock in their 401(k)s into tax-efficient income. He explains how the right moves can help you retire earlier and keep more of your money—and how one wrong step can cost you big.Takeaways:• Company stock matters• NUA lowers taxes• Don't rush to IRA• Act with a plan• Mistakes are costlyWant to learn more? Connect with us below!Stay informed and inspired! Join our FREE wealth & well-being newsletterDo you want confidence & clarity? Check out our award-winning wealth advice servicesGrab Your Copy of Dr. Cherry's book ‘Wealth In The Key of Life'Disclosure: episodes are educational only, not advice. Review our disclosures here: https://www.concurrentfp.com/disclosures/

In this episode, Dr. Preston Cherry breaks down the often confusing world of inherited IRAs. He explains how taxes, rules, and recent law changes (like the SECURE Act) can impact your inheritance. Whether you're a spouse or a non-spouse heir, knowing the rules is key to avoiding costly mistakes. With smart planning, an inherited IRA can help grow your wealth and honor your loved one's legacy.Takeaways:• Know the tax rules• Don't miss RMDs• SECURE Act changes• Spouses have options• Plan to protect wealthWant to learn more? Connect with us below!Stay informed and inspired! Join our FREE wealth & well-being newsletterDo you want confidence & clarity? Check out our award-winning wealth advice servicesGrab Your Copy of Dr. Cherry's book ‘Wealth In The Key of Life'Disclosure: episodes are educational only, not advice. Review our disclosures here: https://www.concurrentfp.com/disclosures/

In this episode, Dr. Preston Cherry talks about why Gen X should focus on health span—how well you live—not just lifespan—how long you live. He explains that many people over-save for retirement and miss out on living fully now. Instead of treating retirement as one big block of time, he encourages planning for different life stages. The key is to spend in ways that match your current life and values—so you can enjoy life while building for the future.Takeaways:• Plan for health span• Spend by life stage• Avoid over-saving trap• Live well now• Retirement has chaptersWant to learn more? Connect with us below!Stay informed and inspired! Join our FREE wealth & well-being newsletterDo you want confidence & clarity? Check out our award-winning wealth advice services.Grab Your Copy of Dr. Cherry's book ‘Wealth In The Key of Life'Disclosure: episodes are educational only, not advice. Review our disclosures here: https://www.concurrentfp.com/disclosures/

In this episode, Dr. Preston Cherry sheds light on why even high-income earners need solid financial education. Earning more doesn't mean knowing more about money. He explains how true financial literacy helps people make smarter decisions, avoid costly mistakes, and feel more confident. Using real-life examples, he shows that financial wellness is not just about managing money—it's also about understanding it, emotionally and practically.Takeaways:• Income ≠ Financial smarts• Education boosts confidence• Avoid costly mistakes• Plan with clarity• Money affects emotionsWant to learn more? Connect with us below!Stay informed and inspired! Join our FREE wealth & well-being newsletterDo you want confidence & clarity? Check out our award-winning wealth advice servicesGrab Your Copy of Dr. Cherry's book ‘Wealth In The Key of Life'Disclosure: episodes are educational only, not advice. Review our disclosures here: https://www.concurrentfp.com/disclosures/

In this episode, Dr. Preston Cherry breaks down this old investing rule and why it might not work anymore. Originally tied to London's horse racing season, the idea was to cash out in May and return in November. But in today's fast-paced, data-driven markets, that strategy is losing steam. Dr. Cherry explains why staying invested and using smarter tactics beats trying to time the market.Takeaways:• Old rule, outdated• Timing rarely wins• Stay invested long-term• Use smart rebalancing• Focus beats fearWant to learn more? Connect with us below!Stay informed and inspired! Join our FREE wealth & well-being newsletterDo you want confidence & clarity? Check out our award-winning wealth advice servicesGrab Your Copy of Dr. Cherry's book ‘Wealth In The Key of Life'Disclosure: episodes are educational only, not advice. Review our disclosures here: https://www.concurrentfp.com/disclosures/

In this episode, Dr. Preston Cherry breaks down why Health Savings Accounts (HSAs) are a powerful tool—not just for today's medical bills but for building your retirement nest egg. With big tax perks and long-term flexibility, HSAs can do more than you think. Learn how to use them smartly now and in retirement.Takeaways:• Triple Tax Advantage• Max Out Contributions• Invest for Growth• Cover Future Healthcare• No Expiration DateWant to learn more? Connect with us below!Stay informed and inspired! Join our FREE wealth & well-being newsletterDo you want confidence & clarity? Check out our award-winning wealth advice servicesGrab Your Copy of Dr. Cherry's book ‘Wealth In The Key of Life'Disclosure: episodes are educational only, not advice. Review our disclosures here: https://www.concurrentfp.com/disclosures/

In this episode, Dr. Preston Cherry breaks down key retirement accounts like 401(k)s, Roth IRAs, and traditional IRAs. He explains where to save, invest, and withdraw money for retirement — and why taxes matter. The talk covers contribution limits, tax perks, smart strategies for high earners, and common planning mistakes to avoid.Takeaways:• Know where to save• Use employer plans• Roth vs. traditional• Max out contributions• Avoid common errorsWant to learn more? Connect with us below!Stay informed and inspired! Join our FREE wealth & well-being newsletterDo you want confidence & clarity? Check out our award-winning wealth advice servicesGrab Your Copy of Dr. Cherry's book ‘Wealth In The Key of Life'Disclosure: episodes are educational only, not advice. Review our disclosures here: https://www.concurrentfp.com/disclosures/

In this episode, Dr. Preston Cherry breaks down a common mistake investors make: thinking the S&P 500 is enough. While it's a strong index, it's mostly U.S.-focused and tech-heavy. This “home bias” can hurt your returns, especially during U.S. market downturns. Adding international stocks spreads your risk and gives you access to different economies, industries, and opportunities. History shows: global diversification works.Takeaways:• Avoid home bias• Add global balance• Tech isn't everything• Diversify by country• Review regularlyWant to learn more? Connect with us below!Stay informed and inspired! Join our FREE wealth & well-being newsletterDo you want confidence & clarity? Check out our award-winning wealth advice servicesGrab Your Copy of Dr. Cherry's book ‘Wealth In The Key of Life'Disclosure: episodes are educational only, not advice. Review our disclosures here: https://www.concurrentfp.com/disclosures/

In this episode, Dr. Preston Cherry challenges the “self-made millionaire” myth, revealing that wealth is rarely built alone. Real success comes from more than just hustle—it's shaped by support systems, relationships, and access to resources. Using real stories, he reminds us to stay humble and grateful for the help we receive along the way.Takeaways:• Success takes support• Hustle isn't enough• Networks build wealth• Gratitude matters• Invest in yourselfWant to learn more? Connect with us below!Stay informed and inspired! Join our FREE wealth & well-being newsletterDo you want confidence & clarity? Check out our award-winning wealth advice servicesGrab Your Copy of Dr. Cherry's book ‘Wealth In The Key of Life'Disclosure: episodes are educational only, not advice. Review our disclosures here: https://www.concurrentfp.com/disclosures/

In this episode, Dr. Cherry breaks down why Gen X is struggling the most with student loans—and what you can do about it. From confusing repayment plans to the fine print of forgiveness programs, understanding your options now can save you thousands later. If you're feeling stuck or overwhelmed, this conversation can help you take back control of your financial future.Takeaways:• Gen X = Highest debt• Know your repayment plan• Forgiveness is possible• Avoid costly forbearance• Act now, save laterWant to learn more? Connect with us below!Stay informed and inspired! Join our FREE wealth & well-being newsletterDo you want confidence & clarity? Check out our award-winning wealth advice services.Grab Your Copy of Dr. Cherry's book ‘Wealth In The Key of Life'Disclosure: episodes are educational only, not advice. Review our disclosures here: https://www.concurrentfp.com/disclosures/

In this episode, Dr. Cherry honors Warren Buffett by breaking down his famous investment strategies and clearing up common myths. She explains why understanding frugality, cash flow, and thinking long-term are crucial for growing wealth. Dr. Cherry also points out how individual investors differ from big institutions, especially when it comes to risk and timelines. The talk ends with a powerful reminder: mindset and education are the real keys to financial success.Takeaways:• Spend less, invest more• Cash flow builds wealth• Think long-term always• Stay ready for opportunities• Mindset drives successWant to learn more? Connect with us below!Stay informed and inspired! Join our FREE wealth & well-being newsletterDo you want confidence & clarity? Check out our award-winning wealth advice services.Grab Your Copy of Dr. Cherry's book ‘Wealth In The Key of Life'Disclosure: episodes are educational only, not advice. Review our disclosures here: https://www.concurrentfp.com/disclosures/

In this episode, Dr. Cherry breaks down the financial challenges oil and gas executives face—like managing complex pay packages, stock units (RSUs), and big tax bills. He shares smart strategies to avoid tax surprises, protect wealth, and plan for a secure retirement.Takeaways:• Plan for tax hits• Watch RSU timing• Limit company stock• Max out 401(k)• Think long-termWant to learn more? Connect with us below!Stay informed and inspired! Join our FREE wealth & well-being newsletterDo you want confidence & clarity? Check out our award-winning wealth advice servicesGrab Your Copy of Dr. Cherry's book ‘Wealth In The Key of Life'Disclosure: episodes are educational only, not advice. Review our disclosures here: https://www.concurrentfp.com/disclosures/

In this episode, Dr. Preston Cherry breaks down why taxable brokerage accounts are a smart tool for building long-term wealth. While the word “taxable” might sound like a disadvantage, these accounts offer surprising benefits: flexible withdrawals, lower taxes on gains, and smart strategies like tax loss harvesting. They're also great for estate planning, giving your heirs a valuable step-up in cost basis. When used right, these accounts can play a powerful role in your financial plan.Takeaways:• Build long-term wealth• Lower tax rates• Withdrawal flexibility• Offset investment losses• Boost estate valueWant to learn more? Connect with us below!Stay informed and inspired! Join our FREE wealth & well-being newsletterDo you want confidence & clarity? Check out our award-winning wealth advice servicesGrab Your Copy of Dr. Cherry's book ‘Wealth In The Key of Life'Disclosure: episodes are educational only, not advice. Review our disclosures here: https://www.concurrentfp.com/disclosures/

In this episode, Dr. Preston Cherry opens up the conversation Gen X needs to have—with their parents and grandparents. From healthcare decisions to family legacies, it's time to stop avoiding the tough talks and start planning with heart and clarity. Dr. Cherry shares how to begin these discussions, what documents matter most, and why talking now can save a lot of confusion later. It's not just about the money—it's about meaning, values, and dignity.Takeaways:• Start the Talk Early• Plan with Purpose• Protect Family Legacy• Secure Long-Term Care• Keep Dignity IntactWant to learn more? Connect with us below!Stay informed and inspired! Join our FREE wealth & well-being newsletterDo you want confidence & clarity? Check out our award-winning wealth advice servicesGrab Your Copy of Dr. Cherry's book ‘Wealth In The Key of Life'Disclosure: episodes are educational only, not advice. Review our disclosures here: https://www.concurrentfp.com/disclosures/

In this episode, Dr. Preston Cherry breaks down two popular ways to invest: dollar cost averaging (investing smaller amounts over time) and lump sum investing (putting all your money in at once). He explains how emotions like fear and regret influence our choices, and why understanding your own goals and risk tolerance is key. Backed by real data, this conversation helps you figure out which strategy might work best for you.Takeaways:• Mindset matters• DCA reduces risk• Lump sum wins long-term• Cash drag hurts returns• Know your goalsWant to learn more? Connect with us below!Stay informed and inspired! Join our FREE wealth & well-being newsletterDo you want confidence & clarity? Check out our award-winning wealth advice servicesGrab Your Copy of Dr. Cherry's book ‘Wealth In The Key of Life'Disclosure: episodes are educational only, not advice. Review our disclosures here: https://www.concurrentfp.com/disclosures/

In this episode, Preston Cherry talks about how Gen X is facing big financial pressure from mortgage debt—especially as they near retirement. He shares smart, simple ways to tackle that debt early, like making extra payments or using surprise money (windfalls) to get ahead. He also warns against common mistakes and encourages being financially ready for retirement.Takeaways:• 38% Gen X in debt• Debt-free = peace of mind• Extra payments = big win• Windfalls can help• Don't tap retirement fundsWant to learn more? Connect with us below!Stay informed and inspired! Join our FREE wealth & well-being newsletterDo you want confidence & clarity? Check out our award-winning wealth advice services.Grab Your Copy of Dr. Cherry's book ‘Wealth In The Key of Life'Disclosure: episodes are educational only, not advice. Review our disclosures here: https://www.concurrentfp.com/disclosures/

In this episode,Dr. Preston Cherry shares why financial planning should go beyond just investments. Many people feel let down by traditional advice that doesn't reflect their real lives. He explains how the best financial plans connect your money with your goals, values, and well-being. At the heart of it all? Trust, understanding, and a big-picture approach.Takeaways:• Connect money + life• Go beyond investing• Clients want trust• Advisors must listen• Plan the whole pictureWant to learn more? Connect with us below!Stay informed and inspired! Join our FREE wealth & well-being newsletterDo you want confidence & clarity? Check out our award-winning wealth advice servicesGrab Your Copy of Dr. Cherry's book ‘Wealth In The Key of Life'Disclosure: episodes are educational only, not advice. Review our disclosures here: https://www.concurrentfp.com/disclosures/

In this episode, Dr. Preston Cherry dives into geographic arbitrage—how moving to a different state or country can stretch your income and improve your quality of life. Dr. Cherry covers key factors like retirement locations, managing Social Security and investments abroad, and handling taxes as a U.S. citizen overseas. Plus, the discussion highlights how cost of living, healthcare, and lifestyle choices play a big role in relocation decisions.Takeaways:• Retire richer by relocating• Lower costs = higher income• Social Security works abroad• U.S. taxes still apply• Healthcare costs varyWant to learn more? Connect with us below!Stay informed and inspired! Join our FREE wealth & well-being newsletterDo you want confidence & clarity? Check out our award-winning wealth advice servicesGrab Your Copy of Dr. Cherry's book ‘Wealth In The Key of Life'Disclosure: episodes are educational only, not advice. Review our disclosures here: https://www.concurrentfp.com/disclosures/

In this episode, Dr. Preston Cherry challenges traditional budgeting and introduces reverse budgeting, a method that prioritizes personal values and guilt-free spending while ensuring financial security. He outlines a five-step approach: knowing your retirement number, automating finances, covering fixed costs, enjoying discretionary spending, and reviewing regularly. His approach emphasizes a holistic, flexible path to financial wellness.Takeaways:• Budgets can feel restrictive• Reverse budgeting prioritizes paying yourself first• Aligning money with values boosts well-being• Guilt-free spending is possible• Regular financial check-ins matterWant to learn more? Connect with us below!Stay informed and inspired! Join our FREE wealth & well-being newsletterDo you want confidence & clarity? Check out our award-winning wealth advice servicesGrab Your Copy of Dr. Cherry's book ‘Wealth In The Key of Life'Disclosure: episodes are educational only, not advice. Review our disclosures here: https://www.concurrentfp.com/disclosures/

In this episode, Dr. Preston Cherry dives into how the concept of wealth is evolving and why being a millionaire isn't what it used to be.With inflation and rising living costs, the financial landscape has shifted. He shares key insights on income, net worth, and how to focus on your unique financial path rather than comparing yourself to others. Dr. Cherry also debunks wealth myths and offers practical strategies for long-term financial success.Takeaways:• $1 million isn't enough anymore• Only 10% of Americans are millionaires• Inflation weakens money's value• Focus on your financial journey• Define wealth beyond dollarsWant to learn more? Connect with us below!Stay informed and inspired! Join our FREE wealth & well-being newsletterDo you want confidence & clarity? Check out our award-winning wealth advice servicesGrab Your Copy of Dr. Cherry's book ‘Wealth In The Key of Life'Disclosure: episodes are educational only, not advice. Review our disclosures here: https://www.concurrentfp.com/disclosures/

In this episode, Dr. Preston Cherry breaks down the essentials of equity compensation—RSUs, ISOs, NQSOs, and ESPPs. He explains how taxes and behavioral biases can influence your decisions and offers smart strategies to maximize your equity benefits while avoiding common traps.Takeaways:• Know your tax impact• Sell RSUs to cover taxes• ISOs can lower taxes• ESPPs offer discounted stock• Plan ahead to win bigWant to learn more? Connect with us below!Stay informed and inspired! Join our FREE wealth & well-being newsletterDo you want confidence & clarity? Check out our award-winning wealth advice servicesGrab Your Copy of Dr. Cherry's book ‘Wealth In The Key of Life'Disclosure: episodes are educational only, not advice. Review our disclosures here: https://www.concurrentfp.com/disclosures/

In this episode, Dr. Preston Cherry breaks down how business owners can choose and use retirement plans to boost income, cut taxes, and maintain their lifestyle. He covers Simple IRAs, SEP IRAs, Solo 401ks, and cash balance plans while explaining key tax-saving strategies, like diversifying tax exposure and using Health Savings Accounts (HSAs).Takeaways:• Maximize income & tax savings• Choose the right plan• Solo 401ks = big contributions• Cash balance = higher limits• HSAs = triple tax benefitsWant to learn more? Connect with us below!Stay informed and inspired! Join our FREE wealth & well-being newsletterDo you want confidence & clarity? Check out our award-winning wealth advice servicesGrab Your Copy of Dr. Cherry's book ‘Wealth In The Key of Life'Disclosure: episodes are educational only, not advice. Review our disclosures here: https://www.concurrentfp.com/disclosures/

In this episode, Dr. Preston Cherry explores how couples can turn financial tension into teamwork. He highlights the emotional side of money talks and shares a framework for better communication, including regular check-ins, understanding each other's views, and resolving conflicts without fighting. The goal? Less stress, more financial harmony.Takeaways• Money conflicts cause stress• Emotions shape money talks• Check-ins ease tension• Teamwork beats compromise• Shared goals build harmonyWant to learn more? Connect with us below!Stay informed and inspired! Join our FREE wealth & well-being newsletterDo you want confidence & clarity? Check out our award-winning wealth advice servicesGrab Your Copy of Dr. Cherry's book ‘Wealth In The Key of Life'Disclosure: episodes are educational only, not advice. Review our disclosures here: https://www.concurrentfp.com/disclosures/

In this episode, Dr. Preston Cherry explains how to handle market corrections with the Core and Satellite strategy. He stresses the importance of a diversified portfolio to manage risk and highlights how downturns create investment opportunities. He also shares tips on staying calm and strategic instead of panicking during market shifts.Takeaways• Corrections are frequent (every 1–1.5 years)• Diversification reduces risk• Opportunities arise in downturns• Strategy beats panic• Smart investing pays offWant to learn more? Connect with us below!Stay informed and inspired! Join our FREE wealth & well-being newsletterDo you want confidence & clarity? Check out our award-winning wealth advice servicesGrab Your Copy of Dr. Cherry's book ‘Wealth In The Key of Life'Disclosure: episodes are educational only, not advice. Review our disclosures here: https://www.concurrentfp.com/disclosures/

In this episode, Dr. Preston Cherry breaks down market volatility, explaining crashes, corrections, and bear markets. He highlights why understanding these shifts helps manage emotions during downturns. He also shares key strategies like dollar cost averaging and staying calm instead of panic selling.Key Points:• Volatility is normal• Corrections = 10% drop• Bear markets = 20%+ drop• Timing the market fails• Stay invested, don't panicWant to learn more? Connect with us below!Stay informed and inspired! Join our FREE wealth & well-being newsletter.Do you want confidence & clarity? Check out our award-winning wealth advice services.Grab Your Copy of Dr. Cherry's book ‘Wealth In The Key of Life'Information on the Life Money Balance Podcast is for educational purposes only, not financial advice. Review our disclosures: https://www.concurrentfp.com/disclosures/

In this episode, Dr. Preston Cherry breaks down key retirement savings benchmarks for your 40s, 50s, and 60s. He explores the emotional challenges of saving—like anxiety and comparison—and shares practical tips to build financial freedom. His advice? Adjust your lifestyle, diversify income, and stop procrastinating. Stay focused on your own financial journey and take action now.Key Points:• Savings benchmarks: 3x salary by 40, 6x by 50, 6-8x by 60• Gen X median retirement savings: $100K• Life is uncertain—plan accordingly• Save more without sacrificing lifestyle• Procrastination hurts financial progressWant to learn more? Connect with us below!Stay informed and inspired! Join our FREE wealth & well-being newsletterDo you want confidence & clarity? Check out our award-winning wealth advice servicesGrab Your Copy of Dr. Cherry's book ‘Wealth In The Key of Life'Information on the Life Money Balance Podcast is for educational purposes only, not financial advice. Review our disclosures: https://www.concurrentfp.com/disclosures/

In this episode, Dr. Preston Cherry breaks down why emergency funds are a must—even for high earners. He explains that they act as financial protection, not an investment, and shares smart strategies to build and maintain one. From how much to save to balancing cash reserves with investments, this conversation clears up common myths and offers practical advice for managing money wisely.Key Points:• Emergency fund = security• It's insurance, not investment• Automate savings for consistency• Too much cash = fear• Balance liquidity & growthWant to learn more? Connect with us below!Stay informed and inspired! Join our FREE wealth & well-being newsletterDo you want confidence & clarity? Check out our award-winning wealth advice servicesGrab Your Copy of Dr. Cherry's book ‘Wealth In The Key of Life'Information on the Life Money Balance Podcast is for educational purposes only, not financial advice. Review our disclosures: https://www.concurrentfp.com/disclosures/

In this episode, Dr. Preston Cherry breaks down estate planning trusts and why they matter for high-income and high-net-worth folks—not just the uber-wealthy. He explains three key types: Revocable Living Trusts, Irrevocable Life Insurance Trusts, and Charitable Remainder Trusts, showing how they help protect assets, reduce taxes, and ensure your wishes are honored.Key Points:• Avoid probate hassles• Stay in control (Revocable Trusts)• Reduce estate taxes (Irrevocable Trusts)• Support charities & save (Charitable Trusts)• Ensure asset protectionWant to learn more? Connect with us below!Stay informed and inspired! Join our FREE wealth & well-being newsletterDo you want confidence & clarity? Check out our award-winning wealth advice servicesGrab Your Copy of Dr. Cherry's book ‘Wealth In The Key of Life'Information on the Life Money Balance Podcast is for educational purposes only, not financial advice. Review our disclosures: https://www.concurrentfp.com/disclosures/

On this episode, Dr. Preston Cherry breaks down estate planning in a way that makes it clear: everyone needs a plan, not just the rich. He explains key documents like wills, living trusts, powers of attorney, and healthcare directives—tools that protect your assets and ensure your wishes are followed.He also shares strategies to avoid probate, minimize taxes, and keep your family from unnecessary stress. Most importantly, he urges open conversations about estate planning to prevent future conflicts and make sure your legacy is honored.Key Points:• Estate planning is for all• Wills and trusts protect assets• Plan ahead to avoid probate• Update documents, talk openlyWant to learn more? Connect with us below!Stay informed and inspired! Join our FREE wealth & well-being newsletterDo you want confidence & clarity? Check out our award-winning wealth advice servicesGrab Your Copy of Dr. Cherry's book ‘Wealth In The Key of Life'Information on the Life Money Balance Podcast is for educational purposes only, not financial advice. Review our disclosures: https://www.concurrentfp.com/disclosures/

In this episode, Dr. Preston Cherry delves into the complexities and benefits of incorporating annuities into retirement portfolios. With the startling statistic that 63% of Americans fear outliving their money more than death itself, Dr. Preston offers a comprehensive exploration of annuities as a solution to this anxiety.He clarifies misconceptions by defining annuities not as investments, but as insurance against outliving one's savings. Through an engaging discussion, Dr. Preston sheds light on how annuities can provide a guaranteed income stream, thereby offering peace of mind and financial security during retirement.Key Points:• Understanding Annuities• Types of Annuities• Role in Retirement Portfolios• Myths and Fiduciary Responsibility• Famous IllustrationsWant to learn more? Connect with us below!Stay informed and inspired! Join our FREE wealth & well-being newsletterDo you want confidence & clarity? Check out our award-winning wealth advice servicesGrab Your Copy of Dr. Cherry's book ‘Wealth In The Key of Life'Information on the Life Money Balance Podcast is for educational purposes only, not financial advice. Review our disclosures: https://www.concurrentfp.com/disclosures/

In this episode, Dr. Preston Cherry explores financial harmony, guiding listeners from financial anxiety to alignment by connecting money decisions with personal values.With 60% of Americans experiencing financial anxiety, Dr. Cherry presents a framework to help individuals and households align their finances with life goals. The episode also introduces the 6A alignment system, offering actionable steps for financial clarity. Dr. Cherry also delves into financial therapy, emphasizing the emotional and psychological aspects of money. By addressing money avoidance and using strategies like journaling and self-audits, listeners can reduce stress, achieve financial confidence, and create a fulfilling life.Key Points:• Definition of Financial Harmony• Impact of Misalignment• The 6A Alignment System• Financial Therapy• Practical Tips for Financial HarmonyWant to learn more? Connect with us below!Stay informed and inspired! Join our FREE wealth & well-being newsletterDo you want confidence & clarity? Check out our award-winning wealth advice servicesGrab Your Copy of Dr. Cherry's book ‘Wealth In The Key of Life'Information on the Life Money Balance Podcast is for educational purposes only, not financial advice. Review our disclosures: https://www.concurrentfp.com/disclosures/

Building wealth through real estate is often promoted as a path to financial freedom, but it may not suit everyone, especially those in their 40s focusing on lifestyle and retirement goals.In this episode, Dr. Preston Cherry emphasizes prioritizing foundational investments like 401(k)s, IRAs, and brokerage accounts before considering real estate, as nearly half of real estate owners fail to achieve a 10% return. Challenges such as maintenance costs, tenant management, and market volatility are explored, alongside passive alternatives like REITs and crowdfunding. Ultimately, aligning financial strategies with one's life stage and goals is key, as real estate is just one of many paths to financial success.Want to learn more? Connect with us below!Pre-Order Dr. Cherry's book 'Wealth In The Key of Life'Sign up for 'Make Your Finances Flourish' Live Workshop!Get a Free Finances Guide and Check Out Financial Planning ServicesReceive Our Free Personal Finance NewsletterDr. Preston D. CherryWhat we share here is for educational purposes only, not personal financial advice. Feel free to join in the discussion! See our disclosures for more information: https://www.concurrentfp.com/disclosures/

In this episode, Dr. Preston Cherry dispels common myths about retirement age and encourages proactive emotional and financial preparation to ensure that retirement is approached with confidence and clarity.He emphasizes the significance of redefining retirement not just as an end but as a transition into a phase of freedom and opportunity.Key Points:• Redefine Retirement• Know Your Freedom Number• Implement a Spending Plan• Emotional Intelligence Preparation• Prioritize HealthWant to learn more? Connect with us below!Pre-Order Dr. Cherry's book 'Wealth In The Key of Life: https://www.amazon.com/Wealth-Key-Life-Finding-Financial/dp/1394268661Sign up for 'Make Your Finances Flourish' Live Workshop! https://concurrentfp.mykajabi.com/transformyourfinancesGet a Free Finances Guide and Check Out Financial Planning Services https://www.concurrentfp.com/Receive Our Free Personal Finance Newsletter https://concurrentfp.mykajabi.com/life-money-balance-personal-finance-newsletterDr. Preston D. Cherry: https://www.concurrentfp.com/dr-preston-cherry/What we share here is for educational purposes only, not personal financial advice. Feel free to join in the discussion! See our disclosures for more information: https://www.concurrentfp.com/disclosures/

Are you falling into the trap of following the herd? In this episode, Dr. Preston Cherry breaks down why blindly imitating others can hurt your finances, especially when it leads to buying high and selling low.This episode emphasizes the importance of understanding one's long-term financial goals and matching investment actions to these objectives, avoiding impulsive decisions driven by fear of missing out (FOMO).Key Points:• Behavioral Pitfalls in Investing• Core and Satellite Strategy• Crypto Caution and Discipline• Traditional vs. Decentralized Finance• Educating InvestorsWant to learn more? Connect with us below!Pre-Order Dr. Cherry's book 'Wealth In The Key of Life'Sign up for 'Make Your Finances Flourish' Live Workshop! Get a Free Finances Guide and Check Out Financial Planning ServicesReceive Our Free Personal Finance NewsletterDr. Preston D. CherryWhat we share here is for educational purposes only, not personal financial advice. Feel free to join in the discussion! See our disclosures for more information: https://www.concurrentfp.com/disclosures/

There is a powerful link between gratitude and financial success, especially for Generation X. In this episode, Dr. Preston Cherry shares how combining gratitude with grit and grace can improve financial decisions and boost life satisfaction. Using the PERMA model, it explains how gratitude impacts the brain, enhances emotional well-being, and drives personal and financial success.Key Points:The Power of GratitudeThe PERMA ModelGeneration X's Financial StrugglesDaily Gratitude PracticesSupportive NetworkWant to learn more? Connect with us below!Pre-Order Dr. Cherry's book 'Wealth In The Key of Life'Sign up for 'Make Your Finances Flourish' Live Workshop!Get a Free Finances Guide and Check Out Financial Planning ServicesReceive Our Free Personal Finance NewsletterDr. Preston D. CherryWhat we share here is for educational purposes only, not personal financial advice. Feel free to join in the discussion! See our disclosures for more information: https://www.concurrentfp.com/disclosures/

In this episode, Dr. Preston Cherry and Shana Sissel discuss the importance of alternative investments in portfolio construction and risk management. They explore the vast universe of alternatives, how they can align with personal values, and the evolving landscape of investment strategies.Key Points:• Alternative investments offer diverse opportunities outside of traditional stocks and bonds.• A balanced portfolio should mix core and alternative investments to manage risk.• Knowing how different assets interact helps in creating a strong investment strategy.• Investors should choose alternatives that align with their values and interests.• Discussing risk, liquidity, and goals with clients is key for building successful investment plans.Want to learn more? Connect with us below!Pre-Order Dr. Cherry's book 'Wealth In The Key of Life'Sign up for 'Make Your Finances Flourish' Live Workshop!Get a Free Finances Guide and Check Out Financial Planning Services Receive Our Free Personal Finance NewsletterDr. Preston D. CherryWhat we share here is for educational purposes only, not personal financial advice. Feel free to join in the discussion! See our disclosures for more information: https://www.concurrentfp.com/disclosures/

In this episode, Dr. Preston Cherry talks about retirement income, breaking down the famous 4% rule with its creator, Bill Bengen, renowned for his groundbreaking work in retirement planning.Key Points:1. The 4% rule should be seen as a flexible guideline rather than a strict rule, adaptable to individual retirement timelines and economic conditions.2. Creating a diversified investment portfolio is crucial for managing risks and optimizing returns.3. Continual assessment and adjustment of the retirement plan are essential.4. Implementing strategies like guardrails allows retirees to adjust their withdrawal rates in response to market and inflation changes, ensuring sustainability of their retirement income over the long term.5. Building and sticking to a retirement plan requires psychological resilience, especially during market downturns.Want to learn more? Connect with us below!Pre-Order Dr. Cherry's book 'Wealth In The Key of Life'Sign up for 'Make Your Finances Flourish' Live Workshop! Get a Free Finances Guide and Check Out Financial Planning Services Receive Our Free Personal Finance Newsletter Dr. Preston D. Cherry

In this episode, Dr. Preston Cherry uncover the indispensable tax benefits of 401(k) plans and eliminate common misconceptions surrounding them.This episode brings to light the economic cycles and challenges Gen X has traversed, providing clear, actionable advice on navigating retirement planning amidst these complex realities.Want to learn more? Connect with us below!Pre-Order Dr. Cherry's book 'Wealth In The Key of Life'Sign up for 'Make Your Finances Flourish' Live Workshop!Get a Free Finances Guide and Check Out Financial Planning ServicesReceive Our Free Personal Finance NewsletterDr. Preston D. Cherry

In this episode, Dr. Preston Cherry delves into the crucial topic of balancing the present with saving for retirement.This episode tackles common financial regrets like under-saving for retirement, underestimating medical expenses, and the fear of outliving one's resources, all while promoting a harmonious life-money balance.Want to learn more? Connect with us below!Pre-Order Dr. Cherry's book 'Wealth In The Key of Life'Sign up for 'Make Your Finances Flourish' Live Workshop!Get a Free Finances Guide and Check Out Financial Planning ServicesReceive Our Free Personal Finance NewsletterDr. Preston D. Cherry

Optimizing open enrollment is crucial, yet often overlooked, with over 40% of individuals regretting missed opportunities. It's important to remember that compensation includes not just salary but also benefits like medical and risk insurance, retirement contributions, and wellness perks. Failing to maximize these can leave financial value on the table.Key areas to focus on include reviewing retirement contributions, utilizing tax-advantaged accounts like HSAs and FSAs, and updating medical plans and beneficiary information. Employer life insurance, while limited, can complement private plans. Staying proactive ensures employees align their benefits with current needs and secure greater financial well-being.Want to learn more? Connect with us below!Pre-Order Dr. Cherry's book 'Wealth In The Key of Life'Sign up for 'Make Your Finances Flourish' Live Workshop!Get a Free Finances Guide and Check Out Financial Planning ServicesReceive Our Free Personal Finance NewsletterDr. Preston D. Cherry

In this episode, Dr. Preston Cherry explores the pros and cons of using Reddit for financial advice. He weighs the sense of community and user-driven insights against the risks of misinformation, emphasizing the value of personalized advice from trusted financial professionals. Want to learn more? Connect with us below! Pre-Order Dr. Cherry's book 'Wealth In The Key of Life' Sign up for 'Make Your Finances Flourish' Live Workshop!Get a Free Finances Guide and Check Out Financial Planning ServicesReceive Our Free Personal Finance NewsletterDr. Preston D. Cherry

In this episode, the Cherrys explored the delicate balance between supporting adult children and fostering their financial independence. Charles emphasized the importance of teaching responsibility early, while Carla highlighted the long-term benefits of gradual but firm self-reliance.They discussed setting boundaries to prevent prolonged dependency and shared personal experiences to demonstrate the value of financial and life skills for their children's independence.Part 1: Are Gen X Parents Ruining Retirement by Supporting Their Adult Childrenhttps://youtu.be/seUMBnV9a2AWant to learn more? Connect with us below! Dr. Preston D. Cherry: https://www.concurrentfp.com/dr-preston-cherry/Sign up for 'Make Your Finances Flourish' Live Workshop!https://concurrentfp.mykajabi.com/lmb-wealth-workshop-find-your-financial-independenceGet a Free Finances Guide and Check Out Financial Planning ServicesWww.concurrentfp.comReceive Our Free Financial Education Newsletterhttps://concurrentfp.mykajabi.com/life-money-balance-personal-finance-newsletterPre-Order Dr. Cherry's book 'Wealth In The Key of Life: https://www.amazon.com/Wealth-Key-Life-Finding-Financial/dp/1394268661

Are Gen X Parents Ruining Retirement by Supporting Their Adult Children?In this episode, Dr. Preston Cherry delves into the critical issue of whether Gen X parents are jeopardizing their own retirement by financially supporting their adult children.By providing practical advice and discussing expert data, he equips parents with the tools to make informed decisions and set healthy financial boundaries.Want to learn more? Connect with us below! Dr. Preston D. Cherry on LinkedIn: https://www.linkedin.com/in/drprestoncherry/Dr. Preston D. Cherry's Website: https://www.drprestoncherry.com/Get your free wealth assessment! Visit our website for more insights and personalized guidance. Click here to go to our website: https://concurrentfp.com

In this episode, Dr. Preston D. Cherry delves into the intricacies of moving your 401k after leaving your job, featuring expert insights from Dr. Philip Gibson, a seasoned wealth advisor and chief compliance officer at Concurrent Financial Planning.Together, they explore both direct and indirect transfers of employer-sponsored plans, providing clarity on the 60-day rule and the potential 20% tax hit if funds are not moved accordingly.Want to learn more? Connect with us below! Dr. Preston D. Cherry on LinkedInDr. Preston D. Cherry's WebsiteDr. Philip Gibson on LinkedInGet your free wealth assessment! Visit our website for more insights and personalized guidance. Click here to go to our website: https://concurrentfp.com

In this episode, Dr. Preston D. Cherry provides a comprehensive exploration into the world of luxury hotels, addressing the perennial question: Are luxury hotels worth it?  He delves into the critical alignment between personal finances and the value luxury accommodations bring to one's travel experience. Dr. Cherry offers clear and practical insights into the costs, benefits, and personal factors involved in choosing luxury accommodations.Want to learn more? Connect with us below! Dr. Preston D. Cherry on LinkedIn: https://www.linkedin.com/in/drprestoncherry/Dr. Preston D. Cherry's Website: https://www.drprestoncherry.com/Get your free wealth assessment! Visit our website for more insights and personalized guidance. Click here to go to our website: https://concurrentfp.com

In this episode, Dr. Preston D. Cherry breaks down the true meaning of wealth, going beyond the numbers. He sheds light on how understanding and managing wealth can improve our quality of life by aligning financial and personal goals. Listen in for practical advice and a realistic view on how to use your financial resources to thrive in all areas of life.Want to learn more? Connect with us below! Dr. Preston D. Cherry on LinkedInDr. Preston D. Cherry's WebsiteGet your free wealth assessment! Visit our website for more insights and personalized guidance. Click here to go to our website.

Join Dr. Preston D. Cherry and Dr. Renée Baker, as they dive deep into how aligning your life goals with smart financial planning can lead to true fulfillment. This episode is packed with valuable lessons on the importance of building strong relationships, being financially prepared, and keeping a growth mindset. Together, they inspire you to create a life where your dreams and finances thrive in perfect harmony.Want to learn more? Connect with us below! Dr. Renée Baker on LinkedIn.Dr. Renée Baker's WebsiteDr. Preston D. Cherry on LinkedIn Dr. Preston D. Cherry's Website Get your free wealth assessment! Visit our website for more insights and personalized guidance. Click here to go to our website.

Got a bonus check that feels smaller than expected? Don't worry, you're not alone! In this episode, Dr. Preston Cherry explores why bonus checks often feel like they're taxed more heavily than regular paychecks and shares practical strategies to mitigate the tax impact.Want to learn more? Connect with us below!Dr. Preston D. Cherry on LinkedIn.Dr. Preston D. Cherry's Website.Get your free wealth assessment! Visit our website for more insights and personalized guidance. Click here to go to our website.

Join Dr. Preston D. Cherry and Josh Brown, as they talk about the multifaceted relationship between wealth, spending habits, and time management. Through engaging anecdotes and practical advice, Dr. Cherry and Josh Brown encourage listeners to rethink their approach to wealth, time, and overall well-being.Want to learn more? Connect with us below! Josh Brown on LinkedIn.Dr. Preston D. Cherry on LinkedIn.Dr. Preston D. Cherry's Website.Get your free wealth assessment! Visit our website for more insights and personalized guidance. Click here to go to our website.