Podcasts about cfp board

Send us a textOn this episode of The Get Ready Money Podcast, I spoke with Derek Notman, Adam Holt and Dick Weber about changing the way we think about life insurance agent training, retention and compensation. In this episode we discussed:Why life insurance agents struggle to succeed.The compensation structure is at the heart of the issue and needs to be revamped. Very few agents are taught to sell, rather than to service.Consumers need a fiduciary advisor to tell them what insurance they have.Advisors need to facilitate the conversation.We are in a people business and we need technology that facilitates great human connection.Connect with Adam Holt:Websites: (Asset Map) (Rubin Goldman and Associates) LinkedIn: (here) Connect with Derek Notman:LinkedIn:(here)Couplr.ai: (here) Connect with Dick Weber:Website (here)LinkedIn (here)  Podcast: ReThink. Financial Advice podcast with Adam Holt and Derek Notman (here) (YouTube)Bios: H. Adam Holt, CFP, ChFC is the CEO and Founder of Asset Map. Adam has been a financial advisor for over 25 years, during which time he has helped build and manage his wealth management firm to over $1.2B in assets under management. Adam is known for his early adoption of technology to build trend-setting client experiences. This mindset led him to found Asset-Map, a financial technology firm dedicated to creating engaging visual communication tools used throughout the customer and advisor journey and now used by thousands of advisors worldwide and over 1M consumers. Adam is also the co-host of Rethink the Financial Advisor PodcastDerek Notman is a the Founder & CEO of Couplr AI. Using data science and flip-flop-inspired thinking, we're tackling client acquisition & orphan client problems in the investment and insurance industries. Derek is the co-host of Rethink Financial Advice Podcast: We question everything about financial advice, because sometimes the best way to fix things is to laugh at them first.Richard M. Weber, MBA, CLU®, AEP® (Distinguished) is an Insurance Fiduciary® providing fee-only life insurance expertise to individuals, families and businesses seeking to make smart decisions about buying and managing their life insurance assets. Dick was the 2012-2013 President of the Society of FSP. A 58-year veteran of the life insurance industry, he has been a successful agent, an insurance company executive, and now is one of just a handful of fee-only insurance experts in the U.S.  Author of more than 350 articles encompassing products, sales practices, and the due diligence necessary to buy and place insurance and annuities.  Dick currently serves as a Consumer Representative to the NAIC and is a member of the Standards Resource Commission of the CFP Board.Support the showThe Get Ready Money Podcast and its guests do not provide investment advice. All content is for educational purposes. Guest opinions do not necessarily reflect the opinions of The Get Ready Money Podcast and Tony Steuer.

"Money should be working for you." It's never too late to level up! In this special event recording sponsored by Yahoo!, you'll learn from Judy Herbst, financial expert and the Executive Director of Savvy Ladies. This nonprofit is dedicated to providing free financial education and resources to women, empowering them to achieve financial independence.Moderated by Jackie Hyland, NYWICI member and Associate Director of Corporate Affairs, Sustainability at KPMG US, this conversation focuses on how to manage your money instead of it managing you. Whether it's building a diversified investment portfolio, shoring up an emergency fund that fits a tight job market (potentially 9 months of runway) or leveraging your earning potential, you'll come away with actionable tips to explore your next steps to long-term wealth building. Resources mentioned: Free Financial Helpline; CFP Board; Podcast: Power of the Ask; Ellevest; Jean Chatzky

Mike Zarrelli is a financial advisor at FSA Wealth Partners based out of Rockville, MD. He joins the show today to share why he got into financial planning—even though he was initially encouraged to pursue accounting instead. If you're interested in learning how to grow your career in financial planning, leverage transferable skills from previous jobs, or gain confidence in business development, this episode is for you! Listen in as Mike shares why he chose financial planning over accounting, how he landed his first role, and how his responsibilities evolved as he advanced within his firm. He also walks through what he was looking for in a role, how he strategically moved up the career ladder, and how his background in the restaurant industry helped him develop key skills. You can find show notes and more information by clicking here: https://tinyurl.com/2nde9xhc 

Rise UP!—your go-to weekly market and economic recap, where the week's biggest financial stories meet expert analysis. Hosted by two of the industry's most accomplished voices, Rise Growth Partners Terri Kallsen, CFP®, and Joe Duran, CFA, along with special guests Peter Boockvar and Scott Schwartz. This week on Rise Up! the team discusses the biggest financial stories of the week, including the latest CPI data, the potential impact of new tariffs, and the future of DEI initiatives. We also dive deep into crucial tax planning strategies for 2025, covering contribution limits, estate planning, and upcoming changes you need to know. Plus, we look ahead at the three big stories to watch in the coming week. Meet the Hosts: - Terri Kallsen, CFP®, former head of Schwab Investor Services, Chair of the CFP Board, and Managing Partner at Rise Growth Partners. - Joe Duran, CFA, serial entrepreneur, Goldman Sachs alum, and founder of Rise Growth Partners, one of the largest RIAs in the U.S. Connect with us online: Website: https://www.wealthion.com X: https://www.x.com/wealthion Instagram: https://www.instagram.com/wealthionofficial/ LinkedIn: https://www.linkedin.com/company/wealthion/ #Wealthion #Wealth #Finance #Investing #Markets #Economy #StockMarket #FinancialPlanning #MarketRecap #InvestmentTips #PersonalFinance #EconomicInsights #MoneyManagement #FedPolicy #MarketTrends ____________________________________ IMPORTANT NOTE: The information, opinions, and insights expressed by our guests do not necessarily reflect the views of Wealthion. They are intended to provide a diverse perspective on the economy, investing, and other relevant topics to enrich your understanding of these complex fields. While we value and appreciate the insights shared by our esteemed guests, they are to be viewed as personal opinions and not as investment advice or recommendations from Wealthion. These opinions should not replace your own due diligence or the advice of a professional financial advisor. We strongly encourage all of our audience members to seek out the guidance of a financial advisor who can provide advice based on your individual circumstances and financial goals. Wealthion has a distinguished network of advisors who are available to guide you on your financial journey. However, should you choose to seek guidance elsewhere, we respect and support your decision to do so. The world of finance and investment is intricate and diverse. It's our mission at Wealthion to provide you with a variety of insights and perspectives to help you navigate it more effectively. We thank you for your understanding and your trust. Learn more about your ad choices. Visit megaphone.fm/adchoices

It is not easy to delay gratification and even more difficult for people who have some neurodiversity, like ADHD. Otto Rivera, certified financial planner, joins us to share how her feels that ‘delayed gratification' is the more important skill you can teach your child to set the stage for financial wellness in the future. Find out more at emergent.tax and at CFP Board. Connect with Otto on LinkedIn.

Welcome to the latest episode of Rise UP!—your go-to weekly market and economic recap, where the week's biggest financial stories meet expert analysis. Hosted by two of the industry's most accomplished voices, Rise Growth Partners' Terri Kallsen, CFP®, and Joe Duran, CFA, along with special guest Scott Schwartz, principal at Bleakley Financial Group. Join us as we dive into: 1️⃣ The impact of new U.S. policies under the president's administration, including inflation-fighting measures, tariffs, and tax cuts. 2️⃣ Navigating market volatility amidst high valuations and speculation. 3️⃣ Key changes to inherited IRA rules and how to plan for them.

Welcome to your weekly dose of Rise UP!, where we break down the week's top market and economic events to help you stay ahead of the curve. In this episode, your hosts, Terri Kallsen, CFP®, and Joe Duran, CFA, along with special guest David Mandelbaum, Portfolio Manager at Bleakley Financial Group, will tackle the hottest financial topics. Here's what's on the agenda: Market Surges Amidst Economic Uncertainty: We analyze the S&P 500's surprising rally despite mixed economic signals, including rising inflation rates and strong earnings reports. Healthcare Sector's Unforeseen Dip: We examine the healthcare industry's unexpected underperformance and discuss if this presents a unique opportunity for savvy investors. Capital One's Consumer Controversy: We delve into the lawsuit against Capital One, exploring its implications for both consumers and investors. Plus, we'll address your burning questions on: Financial preparedness in the face of natural disasters Insurance dilemmas Economic forecasts for Canada and Japan Policy changes under the new administration Meet the Hosts: Terri Kallsen, CFP®, former head of Schwab Investor Services, Chair of the CFP Board, and Managing Partner at Rise Growth Partners. Joe Duran, CFA, serial entrepreneur, Goldman Sachs alum, and founder of Rise Growth Partners, one of the largest RIAs in the U.S. Don't miss out on this insightful episode filled with actionable advice and expert insights. Chapters: 00:00:00 - Introduction 00:02:17 - Market Performance and Economic Indicators 00:07:45 - Healthcare Industry Analysis 00:15:45 - Capital One Lawsuit 00:21:09 - Financial Preparedness for Disasters 00:29:29 - Insurance Concerns 00:30:32 - Economic Outlook: Canada and Japan 00:33:12 - Policy Implications and Portfolio Strategy 00:35:45 - Conclusion Connect with us online: Website: https://www.wealthion.com X: https://www.x.com/wealthion Instagram: https://www.instagram.com/wealthionofficial/ LinkedIn: https://www.linkedin.com/company/wealthion/ #Wealthion #Wealth #Finance #Investing #Markets #Economy #StockMarket #FinancialPlanning #MarketRecap #InvestmentTips #PersonalFinance #EconomicInsights #MoneyManagement #FedPolicy #MarketTrends ____________________________________ IMPORTANT NOTE: The information, opinions, and insights expressed by our guests do not necessarily reflect the views of Wealthion. They are intended to provide a diverse perspective on the economy, investing, and other relevant topics to enrich your understanding of these complex fields. While we value and appreciate the insights shared by our esteemed guests, they are to be viewed as personal opinions and not as official investment advice or recommendations from Wealthion. These opinions should not replace your own due diligence or the advice of a professional financial advisor. We strongly encourage all of our audience members to seek out the guidance of a financial advisor who can provide advice based on your individual circumstances and financial goals. Wealthion has a distinguished network of advisors who are available to guide you on your financial journey. However, should you choose to seek guidance elsewhere, we respect and support your decision to do so. The world of finance and investment is intricate and diverse. It's our mission at Wealthion to provide you with a variety of insights and perspectives to help you navigate it more effectively. We thank you for your understanding and your trust. Learn more about your ad choices. Visit megaphone.fm/adchoices

UMH is changing the world of wealth management, helping clients earn more and keep more through tax-smart, multi-account coordination. Many advisory firms recognize the benefits of UMH but often face challenges with its adoption. Having access to the right tools and technology solutions, however, best positions firms and advisors to increase assets under management. In this episode, Jack Sharry talks with Scott Smith, Director of Advice Relationships at Cerulli Associates and member of the CFP Board's Digital Advice Working Group. Scott has more than 20 years of experience in the financial services industry and leads Cerulli's research on investor behavior and advisory relationships. His research helps clients understand how to optimize their platforms. Jack and Scott discuss UMH, its core elements, and how it revolutionizes financial advisory services. Scott also unpacks his findings on UMH adoption, the challenges advisors face in its implementation, and the innovative solutions paving the way forward. In this episode: [02:05] - Implementing UMH [04:58] - The core elements of UMH [07:19] - Research methodology and findings on UMH adoption [13:09] - Asset location and its complexities [16:02] - Identifying and addressing barriers to UMH implementation [19:44] - The growing demand for retirement income solutions [23:02] - The future of asset location and income generation [25:31] - Scott's key takeaways [28:32] - Scott's interests outside of work Quotes [14:25] - "People are just getting overwhelmed by the number of accounts they have and the number of passwords they have. Anything we can do to make a client's life easier, bring those things together, and not have them worry about is a compelling story." ~ Scott Smith [25:43] - "Every tax optimization strategy is great, but it only matters if advisors use it. So, lack of adoption is the barrier to real impact." ~ Scott Smith [26:14] - "It (tax optimization strategy) has to be easy to understand. It has to be easier for advisors to use than what they're doing right now. And it has to be easy to explain the benefits to clients." ~ Scott Smith Links  Scott Smith on LinkedIn Cerulli Associates 55ip EY Vanguard Morningstar Envestnet Morgan Stanley Fidelity Investments Charles Schwab Kismet Improv Connect with our hosts LifeYield Jack Sharry on LinkedIn Jack Sharry on Twitter Subscribe and stay in touch Apple Podcasts Spotify LinkedIn Twitter Facebook

Welcome to the premiere episode of Rise UP!—your go-to weekly market and economic recap, where the week's biggest financial stories meet expert analysis. Hosted by two of the industry's most accomplished voices, Rise Growth Partners Terri Kallsen, CFP®, and Joe Duran, CFA, along with special guest Peter Boockvar, CIO of Bleakley Financial Group. Join us as we dive into: 1️⃣ The devastating financial and personal toll of the Los Angeles wildfires. 2️⃣ The Federal Reserve's 2025 rate strategy—what it means for your investments. 3️⃣ The cocoa crisis: How Hershey is navigating record-high prices.

Teralyn Pilgrim, author of "No Scrap Left Behind: My Life Without Food Waste," says that Americans are wasting significant dollars each month, simply with how they buy and use their groceries. She's not preaching radical lifestyle change as much is simply trying to plan and use food purchases efficiently to reduce or eliminate food waste. Todd Rosenbluth, head of research at VettaFi, reviews the year that was for ETFs; Kevin Roth, head of research for the CFP Board of Standards discusses the group's annual Debt and New Year's Resolution Report, which clearly shows that finances play a big role in New Year's resolutions. Plus,Sam Fleming, co-founder / chief technology officer at Moat Metrics, brings his firm's methods into focus in the Money Life Market Call.

Are you looking for ways to optimize your real estate investments and potentially defer taxes? Watch our latest recording where we explore how 1031 exchanges into Delaware Statutory Trusts (DSTs) may potentially provide a path to passive income while reducing the burden of property management. Presented by Chad Burton, CFP®, this seminar walks you through the current real estate environment, trends in 1031 exchanges, and how DSTs can likely enhance your investment strategy.   In this recording, we discuss topics such as: Understanding 1031 exchanges and how they work Exploring the factors of DSTs for passive investment income Considerations for real estate owners looking to diversify Strategies for deferring capital gains taxes while maintaining income flow This seminar is ideal for real estate investors, property owners, and individuals interested in simplifying their real estate portfolios while seeking tax-efficient investment strategies. The information being presented in this video is aimed at individuals who have at least $500,000 in investable assets.  Certified Financial Planner Board of Standards Inc. owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™, and in the U.S., which it awards to individuals who successfully complete CFP Board's initial and ongoing certification requirements. *Investable assets include qualified retirement plans (IRA, Roth IRA, 401(k), taxable brokerage, cash (savings/checking) and CDs. Investable assets do not include your home, vehicles, or collectibles.  

In this episode of the 9innings Podcast, host Kevin Thompson, founder and CEO of 9i Capital Group, discusses the fiduciary standard with guest Knute Rostad from the Fiduciary Institute. They explore the implications of a new administration potentially deprioritizing this standard, which mandates that financial advisors act in their clients' best interests. The conversation covers the importance of transparency, the evolution of the financial advisory landscape, and the challenges posed by different business models. Both speakers emphasize the need for ongoing education, ethical practices, and constructive dialogue within the financial advisory community to maintain trust and integrity.Discussion on the New Administration (00:01:27)Fiduciary Perspective Defined (00:02:25)Understanding Client Conflicts (00:05:17)Creating Factions in Financial Advice (00:09:04)Historical Context of Fiduciary Standards (00:11:42)The Current State of Financial Advice (00:12:38)Critique of Fiduciary Marketing (00:15:29)Higher Standards of Fiduciary Practice (00:19:50)Importance of Disclosure in Financial Planning (00:20:40)Broker-Dealer Challenges (00:22:45).Limitations of Disclosure (00:23:26)Misleading Standards (00:25:52)The Role of the CFP Board (00:30:11)Closing Remarks on the Fiduciary Standard (00:35:21)Follow Us: youtube: / @9icap Linkedin: / kevin-thompson-ricp%c2%ae-cfp%c2%ae-74964428 facebook: / mlb2cfp Buy MLB2CFP Here: https://www.amazon.com/MLB-CFP%C2%AE-... Hit the subscribe button to get new content notifications. Corrections: Editing by http://SwoleNerdProductions.com

Fortified Life Podcast Show NotesHost: Jason DavisGuest: Shane Enete, PhD, CFA, CFPIn this insightful episode, Jason Davis sits down with Dr. Shane Enete, an associate professor of finance at the Crowell School of Business, Biola University. With over 15 years of experience as an investment research professional, Dr. Enete shares his journey in the financial world and his passion for integrating faith with finance. As the founder of the CFP Board-certified program at Biola, Dr. Enete discusses how he equips students to manage their financial lives while loving Jesus Christ with all of their hearts. Tune in for valuable perspectives on faith, stewardship, and financial wisdom.

On this episode of The Active Advisor podcast, host Bryan Moore chats with Brian J. Probst, CFP®, CRPC®, Vice President of Wealth Management at Raymond James. Brian brings a wealth of experience to the show, and explains why dedication to clients is everything, saying “that's what we get up every day to do”. Don't miss Brian's take on the role of technology in financial planning process and client experience. Bryan and Brian also dive into why the term ‘retirement' could use a rethink, and discuss the reasons why flexibility is what most clients are pursuing when they plan for retirement. At Raymond James, Brian works with a wide range of clients throughout the United States who have accumulated wealth in corporate, family business, and individual assets. Brian has in-depth knowledge of a variety of important issues and strategies surrounding retirement planning, such as retirement income, employer-sponsored retirement plans and retirement cash flow. Branch address (27 S. Squirrel Rd., Suite 200, Auburn Hills. MI 48326), phone number (248-276-2810), Associates involved and their full name and approved Title (Brian J. Probst, CFP®, CRPC®, Vice President, Wealth Management) and the following disclosures: Raymond James is not affiliated with and does not endorse the opinions or services of Harbor Capital. Raymond James & Associates, Inc., member New York Stock Exchange/SIPC. Any opinions are those of the speakers, and not necessarily those of Raymond James. Expressions of opinion are as of this date and are subject to change without notice. Every investor's situation is unique, and you should consider your investment goals, risk tolerance and time horizon before making any investment. Investing involve risk and you may incur a profit or loss regardless of strategy selected. Be sure to contact your financial advisor regarding your particular situation before making any investment or withdrawal decision. Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER®, and CFP® (with plaque design) in the United States, which it authorizes use of by individuals who successfully complete CFP Board's initial and ongoing certification requirements.

Data shows that regardless of who is currently in office, the ebb and flow of the markets and economy continues to move to its own rhythm. Opinions and emotions go hand in hand and can often create biases when discussing financial plans with a client.This week on Framework, Ana Trujillo Limón, Director, Coaching and Advisor Content, welcomes back Greg Opitz, Executive Business Consultant at Carson Coaching, to discuss client communication strategies during times of change. They unpack the importance of truly knowing who your clients are when discussing changes in the political and economic landscape. Avoiding jokes or comments about current events could be the difference between maintaining or losing a client.Sharing loads of quotable advice and gold nuggets of wisdom, Greg continues to emphasize that sticking to your process is key and keeping track of milestones in your clients' financial plans is a crucial factor in communicating their achievements to them in times when they feel that they aren't doing as well as they should.Greg discusses: Really getting to know who your clients are in order to avoid unintentional offense when discussing polarizing topicsUnderstanding your own biases and beliefs and recognizing how they can affect your judgment and decision makingThe most important “P Words”: planning, process, and peopleStaying true to your processes, even when it feels as though turbulent and uncertain changes are comingKeeping track of milestones in a financial plan in order to reassure clients that they are doing well when they feels as though they are notAnd moreConnect with Ana Trujillo Limón: Carson Group LLCLinkedIn: Ana Trujillo LimónConnect with Greg Opitz:Carson CoachingLinkedIn: Greg OpitzAbout Our Guest: Greg Opitz is the Executive Business Consultant at Carson coaching. Greg has been working with financial planners for his entire professional career. Before joining Carson Coaching in May 2006, Greg served seven years as Director, Certification Services at the Certified Financial Planner Board of Standards. For the four years prior to his experience at the CFP Board, Greg was the Director, Student Service Center at the College for Financial Planning. He likes to joke with members, “I spent four years educating advisors, then seven years certifying them, and now consulting with them to enhance their practice and their lives.”Send us your questions, we'd love to hear from you! Email us at framework@carsongroup.com.

Sponsored Webinar   Founded in 2018, My Financial Coach has focused on providing financial planning and wellness through the use of technology and financial experts. Our leadership and operations team ranges from world-renowned economists to leading financial planners from famous fintech startups. We hope to shape the financial services industry towards a truly unbiased and unconflicted professional service that can dedicate itself to their clientele. Based out of Scottsdale, Arizona, and servicing the whole United States, My Financial Coach's planning service is mostly found as an employer benefit in leading companies. As such, our coaching model takes into account workplace benefits and couples it with personal assets. We look forward to changing the world of financial services one account at a time!   To learn more, visit www.MyFinancialCoach.com   About My Financial Coach   MFC provides financial-wellness programs to individuals with complex needs. The service is ideal for individuals who are a business or practice owner, have investments, multiple properties, have access to workplace benefits, etc. The CERTIFIED FINANCIAL PLANNER™ (CFP®) professionals develop personalized financial plans to meet the physicians's lifetime goals to ensure they and their families achieve maximum long-term results. The process can include consulting with qualified Subject Matter Experts to provide the best financial outcome for each client. Like and follow our pages on social media to keep updated on the news, or sign up for our monthly newsletter!   # #   Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the CFP® certification mark, the CERTIFIED FINANCIAL PLANNER™ certification mark, and the CFP® certification mark (with plaque design) logo in the United States, which it authorizes use of by individuals who successfully complete CFP Board's initial and ongoing certification requirements.     This is a sponsored webinar/podcast/recording. Please note that an interview is not considered an endorsement.  CONCIERGE MEDICINE TODAY IS THE INDUSTRY'S TRADE PUBLICATION, EST. 2007.   DISCLAIMER: THIS SITE DOES NOT CONSTITUTE MEDICAL, FINANCIAL, LEGAL, TAX OR OTHER PROFESSIONAL ADVICE. Educational/general information purposes only. Not an endorsement for or against. Results not vetted. Views of the guests do not represent those of the host or show. Please do your due diligence.    © 2024 CONCIERGE MEDICINE TODAY, LLC. ALL RIGHTS RESERVED.

Send us a Text Message.Our guest this week is the lovely Lauren Rosberg, MA CFP® CRPC® CDFA® AEP®, financial advisor and Purse Strings Approved Professional. As a financial professional and mother of four, she has some great tips to share with us today about nurturing financial literacy in kids. We also get to know a little more about her career, money story, and passion for helping women in the financial field.  Here's some of what we discuss in this episode:0:00 – Intro1:04 – Lauren's financial planning background4:54 – Lauren's money story11:27 – Making money conversations fun for your children20:09 – The value of spending money wisely25:51 – Starting financial literacy conversations with kids early on Learn more about LaurenLauren Rosberg, MA CFP®, CRPC® CDFA® began her career as an advisor over fifteen years ago. She cares deeply for her clients and loves being able to provide comprehensive financial plans to guide clients to their goals. She is authorized by the Certified Financial Planner Board of Standards (CFP® Board) to use the certification marks CFP® in accordance with CFP® Board certification and renewal requirements. Lauren has a master's degree in industrial/organizational psychology. Lauren lives in Libertyville with her husband, Eric. She is blessed with their four children – Blake, Aubreigh, Adelaide, and Amelia. Most recently, they added Oliver, a goldendoodle puppy, to complete their family. In her spare time, she enjoys being a classroom volunteer, jiu-jitsu, stand-up paddle boarding, ice skating, and reading.Episodes LinksLauren on Purse Stringshttps://pursestrings.co/professional/financial-advisor/illinois/schaumburg/lauren-rosberg-ma-cfp-crpc-cdfa-aep/Lauren at Mercer Advisorshttps://www.merceradvisors.com/meet-our-team/lauren-rosberg/Lauren on LinkedInhttps://www.linkedin.com/in/laurenkk/Join the Purse Strings Facebook group: https://www.facebook.com/pursestringsco/ To learn more about money and access additional episodes, visit us online: https://pursestrings.co/

Can one person's courage truly change others lives? Just days before his high school graduation, Lori's son, Josh, was injured during a school shooting. Josh displayed remarkable bravery by helping to disarm one of the shooters, tackling him to the ground. Lorie shares the gripping details of that day, the heart-wrenching moment when she received Josh's call, and the intense crisis that her family faced. This episode is a powerful testament to the extraordinary strength and composure that both Lorie and Josh exhibited in the face of unimaginable adversity.Lorie's story serves as a profound reminder of the significant impact one person's actions can have on a broader scale. We explore how Josh's courage inspired his classmates and how such individual acts of bravery contribute to collective effort. Lori reflects on how this life-changing experience has shaped her perspective on personal growth and courage. Join us as we embrace the core message: if you have a pivot, step into it. Our heartfelt gratitude goes to Lorie for her openness and for sharing her and Josh's transformative journey with us.GUEST BIO:Lorie began her career in financial services in 2013 with a Registered Investment Advisory firm in South Denver. Initially serving as a paraplanner, she provided technology and operations support before advancing to a Client Services Manager role with Empower Retirement, where she managed a portfolio of over 300 Core Market plans. She then joined Fidelis Wealth Advisors, bringing her extensive experience and dedication to client service.In addition to her securities licenses, Lorie holds health, life, accident, property, and casualty insurance licenses in the state of Colorado. She has earned her CERTIFIED FINANCIAL PLANNER™ designation from the CFP® Board of Standards and is an active member of the Financial Planning Association (FPA).Lorie recently launched the “Fearless Females” podcast, creating a platform for empowering discussions that inspire women in the financial services industry and beyond. Through insightful interviews and stories, she builds a community where challenges are met with resilience, amplifying female voices and demonstrating her commitment to fostering inclusivity and fearlessness in finance.PERSONALLorie holds an MBA from Colorado State University. In her leisure time, she loves hiking with her family, traveling with her husband David and their five children. Lorie is deeply committed to empowering women in finance and supports the Economic Literacy Council and Aspen Effect with their youth programs, helping to foster financial literacy and economic empowerment among the younger generation.Connect with Lorie Jones:LinkedIn: https://www.linkedin.com/in/loriejones Connect with Theresa and Ivana: Websites: Theresa, True Strategy Consultants: https://tsc-consultants.com/ Ivana, Courageous Being: https://www.courageousbeing.com/ Instagram: Ivana: https://www.instagram.com/courbeing/ Theresa: https://www.instagram.com/tscconsultants/ LinkedIn: Step into the Pivot: https://www.linkedin.com/showcase/step-into-the-pivot/ Theresa: https://www.linkedin.com/in/tree-conti/ Ivana: https://www.linkedin.com/in/ivipol/

Today, we sit down with David Strege to explore how he and his partner successfully transitioned their firm to thrive beyond their tenure. David delves into the importance of letting go, serving others, and engaging in industry organizations. His insights offer invaluable takeaways for purpose-focused advisors at every career stage. In this episode, Rob, Phil, and David delve into:The importance of succession planning and determining the ideal time to start crafting your plan… it's sooner than you thinkUsing a two-advisor strategy for client meetingsPhilanthropy as part of the retirement planning conversationHow to “practice” your retirement before you actually retireAn insider's view of the future growth of the financial planning industryFostering increased public trust and confidence in financial professionalsKey Takeaways: Build your firm from the beginning with the end in mind. Understand what you want your firm to accomplish and work towards that every step of the way.You will get out of industry associations what you put into them.You should understand your client's estate plan in order to appropriately compile a comprehensive financial plan. Part of wisdom comes from making decisions, letting go, and seeing how those decisions play out. Know what you're going to do in retirement before you retire. You need to know what your purpose will be and what makes you come alive. “We spend a lot of time on philanthropic giving, because life's not about things. You try to satisfy your soul or your personality with things, but it's really when you find using your gifts to serve others, that's when you come alive.” – David StregeAbout David Strege: David Strege serves clients as a Senior CERTIFIED FINANCIAL PLANNER™ practitioner at Syverson Strege in West Des Moines, Iowa. David earned a degree in finance from Drake University. He earned his CFP® certification in 1982 and in 2008 served as Chairman of the Board of Directors for the CFP Board. In 1987, he received the Chartered Financial Analyst® certification and earned the Certified Kingdom Advisor® designation in 2017.He has also served on the National Boards of the Financial Planning Association and of the National Endowment for Financial Education® (NEFE®), serving as Chairman in 2018. David still competes nationally and internationally in Men's indoor volleyball.Connect with David Strege: Website: https://www.onlyworkforyou.com/ LinkedIn: https://www.linkedin.com/in/david-strege-planner/ Episode References:The Truest Fan MastermindConnect with Rob Brown & Phil Calandra:Website: http://truestfan.com/ Facebook: https://www.facebook.com/truestfan LinkedIn: https://www.linkedin.com/in/truestfan/ YouTube: https://www.youtube.com/@truestfancoachingLinkedIn Group: https://www.linkedin.com/groups/8496989/ Facebook Group: https://www.facebook.com/groups/truestfan

How do some financial advisors seem to effortlessly connect and succeed with their clients? This week we're discussing the framework of Emotional Intelligence (EQ) and how it can significantly impact your success as a financial advisor and enrich your personal life.In this episode, Ana Trujillo Limón, Director, Coaching and Advisor Content, speaks with Greg Opitz, Executive Business Consultant at Carson Coaching, about emotional intelligence (EQ)  in the financial services industry. They unpack its pivotal role in shaping successful advisors and individuals. By sharing intriguing anecdotes and practical advice, Greg sheds light on the fundamental components of EQ, such as empathy, self-awareness, and the nuanced art of communication. Greg also unpacks how life experiences forge our EQ, enhancing our ability to connect, empathize, and ultimately succeed in the dynamic landscape of financial advising.Greg discusses: A deeper understanding of EQ and its critical role in developing meaningful client relationshipsThe impact of EQ on client relationships, emphasizing the importance of active listening and genuine engagementHow being a better person ties into being a better advisorHow personal and professional challenges cultivate EQ, leading to better understanding and empathyPractical tips for enhancing your own EQ to become a more effective and empathetic advisorHow the next-gen of advisors can develop self-awareness and emotional intelligenceHow he gages emotional intelligence in interviews from a talent development perspectiveAnd moreResources:Think Like a Monk by Jay ShettyNo Longer Awkward by Amy FlorianExcell 2024: The Advisor Growth ConferenceConnect with Ana Trujillo Limón: Carson Group LLCLinkedIn: Ana Trujillo LimónConnect with Greg Opitz:Carson CoachingLinkedIn: Greg OpitzAbout Our Guest: Greg Opitz is the Executive Business Consultant at Carson coaching. Greg has been working with financial planners for his entire professional career. Before joining Carson Coaching in May 2006, Greg served seven years as Director, Certification Services at the Certified Financial Planner Board of Standards. For the four years prior to his experience at the CFP Board, Greg was the Director, Student Service Center at the College for Financial Planning. He likes to joke with members, “I spent four years educating advisors, then seven years certifying them, and now consulting with them to enhance their practice and their lives.”Send us your questions, we'd love to hear from you! Email us at framework@carsongroup.com.

Nurturing a More Diverse Profession – with Rene Jarquin and JonPaul McBride According to data recently released by the CFP Board, less than 10% of the nearly 100,000 CFP® professionals report as Black, Hispanic, Latino, Asian or Pacific Islander. Only 24% are female. It's not news that we have much work to do to encourage individuals from underrepresented communities to join our ranks.  On this episode, Kathleen is joined by her fellow FPA of New England chapter members, Rene Jarquin and JonPaul McBride, to talk about their involvement with the New England chapter's Diversity, Equity & Inclusion committee and the work they are doing to advance diversity within our profession. Tune in to learn more about the various initiatives the DE&I committee is pursuing to attract more candidates from diverse backgrounds into the industry, what their experience was like attending the CFP Board's Diversity Summit, and how they continually adjust and improve their outreach efforts by listening to feedback they have gotten from the students they are trying to reach.  https://www.linkedin.com/in/jonpaulmcbride/ https://www.linkedin.com/in/rene-jarquin-66016/ https://www.mentimeter.com/ https://www.cfp.net/knowledge/reports-and-statistics/diversity-and-womens-research/racial-diversity-in-financial-planning-where-we-are-and-where-we-must-go https://wickedpissahpodcast.libsyn.com/episode-132-blx-internship-program-with-chloe-moore-and-luis-rosa  

#LetsTalkAboutItCurry beats lonescu 29-26 in debut NBA vs. WBNA 3-PT ChallengeSaints convert salary of C Erik McCoy into roster bonus to free up $7.18M in cap space.P Matt Araiza signs with Chiefs#CFB PAC12, commish Kliavkoff agree to part ways CFP Board unanimously approves 5 + 7 format 14 team format in discussion for CFP in 2026. ASU's Dillingham tells CFB coaches complaining about NIL, Portal to quitTamu commerce vs. Incarnate word team brawl in handshake line; 8 players suspended#TouchdownOrTurnoverChiefs tag Chris Jones 2nd year in a row Vikings refuse to give Kirk guaranteed deal#TakeOrTangentJimmy G banned 2 games for not reporting prescription Micah Parsons: cowboys should give pollard another shotLebron unsure if he'll seek retirement tour or ‘Tim Duncan it' Patriots' Slater retires after 16 seasons, 3 rings, 10 pro bowl selections 5x all pro: 2029 HOF?KD ironically wants to be a part of the seattle expansion team if it gets approved#FairOrFadeClippers HC Lue fined 35k for ‘questioning the integrity of game officials'Angels' Rendon: Baseball's ‘never been a top priority for me' #UnnecessaryToughnessRants

According to Yahoo Sports, Washington State president Kirk Schulz has indicated that the Pac-12 did not intend to obstruct the latest College Football Playoff (CFP) format change for the 2024 and 2025 events. However, he voiced concern over potential alterations to the format starting in 2026, particularly proposals from the Big Ten and SEC aiming to secure multiple automatic qualifier spots for their leagues.Schulz, who serves on the CFP Board of Managers, comprised of university presidents from each FBS conference and Notre Dame, expressed apprehension about any conference receiving guaranteed automatic berths beyond their champion, a sentiment shared by others.In a virtual meeting, CFP presidents unanimously approved a transition from the 6+6 model to a 5+7 format for the 2024 and 2025 seasons, adding an at-large spot while reducing automatic qualifying spots to five due to Pac-12 realignment.Last month, Schulz postponed a vote to pitch a proposal for the Pac-12 to retain its revenue and voting rights privileges from 2026 onward, but the idea didn't garner much support among presidents.He anticipates the commissioners' meeting to generate pivotal ideas for the CFP's future and hopes these proposals will involve presidents early in the approval process.Regarding the Pac-12, despite having only two members moving forward, it retains positions on both CFP governance groups. Each Pac-12 team will continue to receive its standard Power Five revenue distribution over the next two years. Schulz aims for the Pac-12 to remain engaged amid ongoing discussions about the conference's future, including potential restructuring or merging with the Mountain West.“There's a lot in flux right now,” Schulz remarked. “It's really, can we stay in the conversation?”Support Us By Supporting Our Sponsors!IbottaRight now, Ibotta is offering our listeners $5 just for trying Ibotta by using the code LOCKEDONCOLLEGE when you register.LinkedInThese days every new potential hire can feel like a high stakes wager for your small business. That's why LinkedIn Jobs helps find the right people for your team, faster and for free. Post your job for free at LinkedIn.com/lockedoncollege. Terms and conditions apply.GametimeDownload the Gametime app, create an account, and use code LOCKEDON for $20 off your first purchase.FanDuelNew customers, join today and you'll getONE HUNDRED AND FIFTY DOLLARS in BONUS BETS if your first bet of FIVE DOLLARS or more wins. Visit FanDuel.com/LOCKEDON to get started.eBay MotorsWith all the parts you need at the prices you want, it's easy to turn your car into the MVP and bring home that win. Keep your ride-or-die alive at EbayMotors.com. Eligible items only. Exclusions apply. eBay Guaranteed Fit only available to US customers.FANDUEL DISCLAIMER: 21+ in select states. First online real money wager only. Bonus issued as nonwithdrawable free bets that expires in 14 days. Restrictions apply. See terms at sportsbook.fanduel.com. Gambling Problem? Call 1-800-GAMBLER or visit FanDuel.com/RG (CO, IA, MD, MI, NJ, PA, IL, VA, WV), 1-800-NEXT-STEP or text NEXTSTEP to 53342 (AZ), 1-888-789-7777 or visit ccpg.org/chat (CT), 1-800-9-WITH-IT (IN), 1-800-522-4700 (WY, KS) or visit ksgamblinghelp.com (KS), 1-877-770-STOP (LA), 1-877-8-HOPENY or text HOPENY (467369) (NY), TN REDLINE 1-800-889-9789 (TN)Follow & Subscribe on all Podcast platforms…

According to Yahoo Sports, Washington State president Kirk Schulz has indicated that the Pac-12 did not intend to obstruct the latest College Football Playoff (CFP) format change for the 2024 and 2025 events. However, he voiced concern over potential alterations to the format starting in 2026, particularly proposals from the Big Ten and SEC aiming to secure multiple automatic qualifier spots for their leagues. Schulz, who serves on the CFP Board of Managers, comprised of university presidents from each FBS conference and Notre Dame, expressed apprehension about any conference receiving guaranteed automatic berths beyond their champion, a sentiment shared by others. In a virtual meeting, CFP presidents unanimously approved a transition from the 6+6 model to a 5+7 format for the 2024 and 2025 seasons, adding an at-large spot while reducing automatic qualifying spots to five due to Pac-12 realignment. Last month, Schulz postponed a vote to pitch a proposal for the Pac-12 to retain its revenue and voting rights privileges from 2026 onward, but the idea didn't garner much support among presidents. He anticipates the commissioners' meeting to generate pivotal ideas for the CFP's future and hopes these proposals will involve presidents early in the approval process. Regarding the Pac-12, despite having only two members moving forward, it retains positions on both CFP governance groups. Each Pac-12 team will continue to receive its standard Power Five revenue distribution over the next two years. Schulz aims for the Pac-12 to remain engaged amid ongoing discussions about the conference's future, including potential restructuring or merging with the Mountain West. “There's a lot in flux right now,” Schulz remarked. “It's really, can we stay in the conversation?” Support Us By Supporting Our Sponsors! Ibotta Right now, Ibotta is offering our listeners $5 just for trying Ibotta by using the code LOCKEDONCOLLEGE when you register. LinkedIn These days every new potential hire can feel like a high stakes wager for your small business. That's why LinkedIn Jobs helps find the right people for your team, faster and for free. Post your job for free at LinkedIn.com/lockedoncollege. Terms and conditions apply. Gametime Download the Gametime app, create an account, and use code LOCKEDON for $20 off your first purchase. FanDuel New customers, join today and you'll getONE HUNDRED AND FIFTY DOLLARS in BONUS BETS if your first bet of FIVE DOLLARS or more wins. Visit FanDuel.com/LOCKEDON to get started. eBay Motors With all the parts you need at the prices you want, it's easy to turn your car into the MVP and bring home that win. Keep your ride-or-die alive at EbayMotors.com. Eligible items only. Exclusions apply. eBay Guaranteed Fit only available to US customers. FANDUEL DISCLAIMER: 21+ in select states. First online real money wager only. Bonus issued as nonwithdrawable free bets that expires in 14 days. Restrictions apply. See terms at sportsbook.fanduel.com. Gambling Problem? Call 1-800-GAMBLER or visit FanDuel.com/RG (CO, IA, MD, MI, NJ, PA, IL, VA, WV), 1-800-NEXT-STEP or text NEXTSTEP to 53342 (AZ), 1-888-789-7777 or visit ccpg.org/chat (CT), 1-800-9-WITH-IT (IN), 1-800-522-4700 (WY, KS) or visit ksgamblinghelp.com (KS), 1-877-770-STOP (LA), 1-877-8-HOPENY or text HOPENY (467369) (NY), TN REDLINE 1-800-889-9789 (TN) Follow & Subscribe on all Podcast platforms…

The 12-team College Football Playoff evolved before it ever debuted. The expanded playoff that's set to launch this season originally had been devised as a 6+6 format. That is, automatic bids for the six-best conference champions, plus six at-large bids. But, after that format got approved, realignment crippled the Pac-12. So, on Tuesday, the CFP Board of Managers voted to change the playoff to a 5+7 format – automatic bids for the five-best conference champions, plus seven at-large bids. The CFP contract lasts another two seasons. For 2026 and beyond, no approved playoff format exists. On today's episode, hosts Blake Toppmeyer and John Adams react to this modified 12-team playoff format and speculate as to what might be in store for the playoff beginning with the '26 season. This much seems likely: SEC Commissioner Greg Sankey will have an influential voice in shaping the playoff's future, just as he swung a big stick in determining this 12-team playoff format. Stay connected on Twitter with Blake (@btoppmeyer) and John (@JohnAdamsKNS) and stay up to date on SEC football news by subscribing to KnoxNews: knoxnews.com/subscribe.

JC Shurburtt and Mike Morgan kick off your week with some college football talk. They get into the coaching changes still ongoing, and take a bit of a dive into the trend of head coaches jumping to coordinator positions. The CFP Board of Managers is set to meet and discuss format among other things. They get a look at the latest in the FSU and ACC saga. They have a full JC5 for you from Taylor Swift to OSU going full Caged Animal this offseason. To learn more about listener data and our privacy practices visit: https://www.audacyinc.com/privacy-policy Learn more about your ad choices. Visit https://podcastchoices.com/adchoices

Jake & Ben gave their takeaways for the NBA All-Star weekend and reacted to the CFP board revising 12-team playoffs. 

In this episode with Morgen Rochard, CFA, CFP®, RLP® we cover: Long term planning with Bitcoin (saving vs. investing) Planning with Bitcoin for different life stages (accumulating wealth, versus retirement) How much should you allocate to Bitcoin? Should you diversify? Challenges and opportunities with regards to estate planning - should you put your Bitcoin in a trust? CFP Board's informal inquiry of the Bitcoin Financial Advisors Network Will financial planners start recommending spot Bitcoin ETFs? --- Morgen Rochard, CFA, CFP®, RLP® manages Origin Wealth Advisers LLC, a fee-only, registered investment advisory firm. Alongside this, she is also a bitcoin financial consultant at her firm Money Owners LLC. Morgen is the author of the "Personal Financial Quickstart Guide" and a co-host on the "Bitcoin for Advisors" podcast. She is also in the process of writing a book focused on Bitcoin and personal finance. Follow her on X at: https://twitter.com/MorgenRochard  --- Mentioned Links: https://www.originwa.com https://www.moneyowners.com https://www.bitcoinpersonafinancebook.com https://bitcoinfinancialadvisorsnetwork.com/ --- Coin Stories is powered by Bitdeer Technologies Group (NASDAQ: BTDR), a publicly-traded leader in Bitcoin mining that stands alone as the only vertically-integrated, technology-focused Bitcoin mining company. Learn more at www.bitdeer.com.  — Natalie's Promotional Links:  Buy Bitcoin, secure it through multisig Collaborative custody, start a Bitcoin IRA or take out a Bitcoin loan with UNCHAINED: https://unchained.com/?utm_campaign=natalie promo code Natalie Bitcoin Nashville is July 25-27, 2024: Get 10% off your passes using the code HODL at  https://b.tc/conference BTC Inc is hosting its first Bitcoin Asia conference in Hong Kong on May 9-10th. Use code HODL at https://asia.b.tc/. Get 5% off your Bitcoin cold storage solutions at Coinkite, including the Coldcard wallet: https://store.coinkite.com/promo/COINSTORIES When I need to know when Saylor bought Bitcoin or Bitcoin ETFs change their holdings I go to www.BitcoinTreasuries.net CrowdHealth offers the Bitcoin community alternative to health insurance. I now spend just ~$100 a month on my health care. Sign up: https://www.joincrowdhealth.com/natalie  — This podcast is for educational purposes and should not be construed as official investment advice. -- VALUE FOR VALUE — SUPPORT NATALIE'S SHOWS Strike ID https://strike.me/coinstoriesnat/ Cash App $CoinStories   #money #Bitcoin #investing

Dr. Matt Goren CFP® | PVP - Financial Planning Education | BIO: Dr. Matt J. Goren, CFP® has created educational programs and taught courses on topics ranging from the psychology of personal finance to investing, global financial planning, cultural psychology, and statistics. As CeriFi's Product Vice President - Financial Planning Education, he oversees educational program development and administration, including the popular Dalton Education and Dalton Review programs for students pursuing the CFP® designation. Formerly, he served as Director of Knowledge for Practice at CFP Board. His past affiliations include The American College of Financial Services, UC Berkeley, and The University of Georgia. Matt lives in Chicago and is a regular world traveler, hiker, and news junky. Summary: In this conversation, Dr. Matt Goren discusses the role of emotions in decision-making and how they can be used as tools to make better financial decisions. He emphasizes the importance of listening to both negative and positive emotions and using them to guide financial choices. Matt also explores biases such as the anchoring bias, status quo bias, overconfidence bias, and the Dunning-Kruger effect. He suggests strategies for managing these biases, including providing relevant anchors, segmenting accounts, and creating controlled environments for testing investment strategies. Overall, the conversation highlights the need to understand and work with our emotions to achieve financial well-being. The conversation explores the shift towards psychology in financial planning and the declining importance of technical skills. It highlights the simplification of technical aspects in finance and the need for financial planners to focus on the human element. The blurring of roles in financial planning is discussed, as well as the evolution of financial planning education. The integration of subjective and objective thinking is emphasized, along with the importance of emotional skills in financial planning. Takeaways Emotions are a tool that can be used to make better financial decisions. Listening to negative emotions can provide valuable information and help avoid destructive decisions. Positive emotions can also guide financial choices, but it's important to be aware of their potential pitfalls. Technical skills in financial planning are becoming less important due to advancements in technology. Simplification of technical aspects in finance, such as budgeting and insurance products, is making financial planning more accessible. Financial planners must focus on the human element and develop coaching and counselling skills. The future of financial planning involves a blending of roles, with all planners needing to be coaches and therapists to some extent. Financial planning education is evolving to include more content on emotions and communication. Meeting clients where they're at and recognizing their individual needs is crucial in financial planning. The integration of subjective and objective thinking is essential in the field of financial planning. LINKS: Dalton Education CERIFI Dr. Matt Goren Linkedin: CLICK HERE

There are so many emotional and financial aspects to retirement. Navigating the transition to retirement can be extremely challenging. These challenges are compounded when planning for two within a marriage. This episode is about preparing for the transition to retirement when the retiree is married. Sam is joined by his brother, Nate Martinez who is a licensed family and marriage counselor. Nate is married and has three kids. Sam and Nate explore the complexities of transitioning to retirement within a marriage. Nate also shares three tips to navigate this transition.    Episode Highlights:  [04:03] Nate's primary focus is marriage. He has level one training in The Gottman Method.  [05:29] Common contention points in marriage include finances in different understandings and meanings of what money is. If each individual's definition of money isn't communicated well, conflict often develops. [06:12] Values can also be a point of conflict. How time is spent can be another issue. [07:01] Often the root of financial issues lies in not communicating well. We need to communicate expectations and what we understand money to be. [08:24] The go and the whoa.  [09:42] There needs to be transparency when one spouse is the one doing the finances. [11:44] The psychological effects of change in transition. The five stages to change include pre-contemplation, contemplation, preparation, action, and maintaining it. [13:37] Change is hard, because it creates fear and anxiety. [14:45] One of the hardest things about retirement is staying retired. A lot of value and meaning is wrapped up in our work. [16:22] A lot of people's identities are wrapped up in their work and their work relationships. [17:42] It's always helpful to get professional help for any transition. One of the best things to do is figure out how to communicate with each other through the transition. There needs to be appropriate speaker and listener communication. [19:01] When the listeners summarize what they're hearing, it shows that they're hearing what the listener would like for them to hear. [20:04] Have good self-awareness. If there's criticism, defensiveness, contempt, and stonewalling during a transition, things won't go well. [21:20]  There are perpetual problems and solvable problems. Most problems in relationships are perpetual. These are differences in personalities, identities, or values. [22:46] Perpetual problems can lead to gridlock. Compromising is one solution. Find the coordinate and try to be flexible. [23:29] Communicate what you want in retirement. Be self-aware and understand how you'll react if your expectations aren't met. Identify whether you're dealing with a perpetual or solvable problem. Be good speakers and good listeners. [24:36] Get a financial plan together when you're preparing for retirement. Talk through what you would like retirement to look like for you and your spouse. [25:24] Don't wait for retirement to do what you would like to do.   Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the CFP® certification mark, the CERTIFIED FINANCIAL PLANNER™ certification mark, and the CFP® certification mark (with plaque design) logo in the United States, which it authorizes use of by individuals who successfully complete CFP Board's initial and ongoing certification requirements.   Resources & Links Related to this Episode Wealthquest Get Started Living a Rich Life: The No-Regrets Guide to Building and Spending Wealth “Unretiring”: Why Recent Retirees Want to Go Back to Work

According to Benjamin Franklin, death and taxes are guaranteed. Just because they're inevitable doesn't mean we can't plan for them. This week, Sam and Wealthquest Director of Tax Planning, Brandon Butcher, tackle the planning stage of estate taxes. They talk about how to maximize the benefits of tax planning, along with specific action steps. They also dive into some of the most common misconceptions around estate planning and estate tax. Brandon shares how estate taxes are computed, discusses exclusions, and explains what high-end estates need to be aware of. He also explains the basis step-up, which reduces taxable gains.   Episode Highlights:  [04:37] Estate taxes are a tax on the transfer of all of your assets upon your death. The tax amount is the fair market value on the day of your death. The total of everything is the gross estate. [05:30] There are deductions allowed including mortgages, debts, administrative fees, property that passes on to a surviving spouse, and qualified charities. [05:56] After the net amount is computed, the value of lifetime taxable gifts is added to this number, and then the tax is computed. The taxes are then reduced by available unified credits. [07:06] There is an annual gift tax exclusion of $18,000 in 2024. [08:06] The federal lifetime exclusion is $13.61 million per person in 2024.  [10:03] Most simple estates don't require the filing of estate tax returns.  [12:27] The exemption is expected to go back down to $7 million in 2026, so high net worth individuals need to plan accordingly and revisit their estate plan.   [15:15] Estate taxes aren't going to affect everyone.  [17:59] Brandon helps clear up gift tax exclusion confusion. If the limitation is exceeded, a gift tax return is filed. Anything over the limit goes into the lifetime exemption.  [20:41] Cost basis receives a step up at its fair market value at death which reduces the tax gains the heir is liable for.    Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the CFP® certification mark, the CERTIFIED FINANCIAL PLANNER™ certification mark, and the CFP® certification mark (with plaque design) logo in the United States, which it authorizes use of by individuals who successfully complete CFP Board's initial and ongoing certification requirements.   Resources & Links Related to this Episode Wealthquest Get Started Living a Rich Life: The No-Regrets Guide to Building and Spending Wealth Brandon Butcher What You Need To Know About Deaths and Taxes Death and Taxes Event Recap (Death)

In this podcast episode, Daniel Hiebert, Associate Professor of Financial Planning at Minnesota State University, and his student Aidan Ryan discuss core financial planning principles, effective teaching strategies, and Aidan's unique perspective. Both share personal money memories, emphasizing experiences with savings accounts and challenges tied to family finances. Daniel underscores the experiential education focus in their CFP Board-certified program, aiming to graduate well-rounded candidates. The dialogue delves into the evolving financial planning landscape, discussing collaborative client-planner relationships and concluding with insights into the fiduciary standard and the importance of trust in client-advisor relationships.

Wealthquest's Director of Financial Planning, Megan Hammann, and Director of Tax Planning, Brandon Butcher, gave a webinar on death, taxes, and preparing for these inevitable events. In this episode, Sam and Megan give a recap of the event and focus on how to get through the transition of assets after a loss. We talk about assets, investments, property, and estate planning. Planning objectively for the legacy we want to leave is extremely important. It involves stepping back to consider how we're going to provide for our family. We talk about the importance of having beneficiaries and planning outside of a will. We also emphasize the importance of open communication and explaining your goals and decisions to prevent misunderstandings.   Episode Highlights:  [04:39] This episode is about making sure that we are setting up our beneficiaries for a smooth transition. [06:35] Thinking about mortality can be difficult, but the planning needs to happen in life. Talk it over with your family and have everyone on the same page.  [07:52] One of the biggest misconceptions people have is that everything will be taken care of if they have a will. A will isn't used any other way outside of probate court. [08:25] The transition is so much easier if we find ways not to have to use the will. The will doesn't take effect until you die. [09:36] The power of attorney will take care of your health care issues while you're still alive. [10:51]  Anything that goes through probate is public record. There are also filing fees and court fees. [11:20] Life can change so estate planning needs to be frequently or occasionally updated. [12:18] Money is emotional. Grief comes out in different ways. We don't want assumptions made during trying times.  [14:09] Be open and honest about your goals. Explain why you made your decisions.  [17:06] When you have beneficiaries, it's a direct transfer of the assets. A will is a backstop, but there are a lot of things that don't get to your will. [17:52] Money either goes through titling or ownership, beneficiaries, or through a will and probate. [18:31] To avoid assumptions, talk to your family about your charitable beneficiaries. [19:42] Planning can help lessen the stress. [20:38] A family meeting can also help give clarity. Be open about your intentions.  [22:52] Talk with your advisor or your team and make your planning in small chunks.   Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the CFP® certification mark, the CERTIFIED FINANCIAL PLANNER™ certification mark, and the CFP® certification mark (with plaque design) logo in the United States, which it authorizes use of by individuals who successfully complete CFP Board's initial and ongoing certification requirements.   Resources & Links Related to this Episode Wealthquest Get Started Living a Rich Life: The No-Regrets Guide to Building and Spending Wealth Brandon Butcher Megan Hammann What You Need To Know About Deaths and Taxes

Once you reach a certain age the government forces you to take withdrawals from your retirement account. These withdrawals affect your taxable income, medicare premiums, and even your ability to leave money to your heirs. I'm referring to required minimum distributions or RMDs. Most people are familiar with RMDs, but not as many people are aware of planning opportunities that they can use to help control the effects of making required withdrawals. Sam shares practical strategies that we can use to get the most out of our distributions.    Episode Highlights:  [02:48] Sam shares an example of a required minimum distribution. 401k and IRA savings are pre-tax. When we take funds out they are going to be taxable. [04:28] RMDs are required once someone hits 73 years old for this year. People are living longer, so they are moving the ages back. [06:34] If you have multiple accounts, each one will have its own RMD. You can take the aggregate amount from any account. [07:30] There are penalties for not taking your RMDs.  [08:29] If you take money out, you need to pay taxes on it. [09:39] If you put money in a 529 plan, you can save on federal taxes. You can also fund a Roth for a family member. [10:55] Qualified Charitable Distributions or QCDs can be given straight from a retirement account to a qualified charity. This will satisfy the RMD and no one will have to pay taxes on those dollars. [12:04] If you're already donating to a charity, you might want to consider a QCD.  [12:42] A Roth conversion is where you take pre-tax dollars and convert them to a Roth which is tax-free. You pay taxes when you withdraw the money. Once it's in the Roth, it can grow tax-free for the remainder of your life. [13:39] A Roth conversion is a great strategy for people who care about legacy. [15:36] Bonus: Still working, you don't have to start taking your RMDs until you retire.    Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the CFP® certification mark, the CERTIFIED FINANCIAL PLANNER™ certification mark, and the CFP® certification mark (with plaque design) logo in the United States, which it authorizes use of by individuals who successfully complete CFP Board's initial and ongoing certification requirements.   Resources & Links Related to this Episode Wealthquest Get Started Living a Rich Life: The No-Regrets Guide to Building and Spending Wealth

To help listeners prepare for the New Year, we sat down with Eric Gustafson, a certified financial planner professional with Gustafson Wealth Consultants of Raymond James, to talk about a financial checklist that can help people track and reach their financial goals. Raymond James & Associates, Inc., member New York Stock Exchange/ SIPC Any Opinions are those of the author and not necessarily those of Raymond James. This material is being provided for informational purposes only and is not a complete description, nor is it a recommendation. The information is educational and is not tailored to the investment needs of any specific investor. Investing involves risk and you may incur a profit or loss regardless of strategy selected. Past Performance is not indicative of future results. Raymond James and its advisors do not offer tax or legal advice. You should discuss any tax or legal matters with the appropriate professional. Certified Financial Planner Board of Standards Inc. owns the certification marks CFP® and CERTIFIED FINANCIAL PLANNER™ in the U.S., which it awards to individuals who successfully complete CFP Board's initial and ongoing certification requirements.If you have any questions you would like us to ask our Subject Matter Experts, send them our way to apennyforyourthoughts@centrisfcu.orgFollow Centris on Social!Facebook | Instagram | Twitter | LinkedInThis is another Hurrdat Media Production. Hurrdat Media is a podcast network and digital media production company based in Omaha, NE. Find more podcasts on the Hurrdat Media Network by going to HurrdatMedia.com or Hurrdat Media YouTube channel!

What options are available regarding Social Security, and how do we determine the best time to access these benefits? As we enter our 60s, we encounter irrevocable decisions about our future, including those related to Social Security. The goal for most of us is to maximize these benefits, considering both tax and estate planning.  Sam, along with Wealthquest's Director of Financial Planning, Megan Hammann, delve into three practical aspects to consider when navigating your Social Security options. We talk about whether Social Security will be here in the future and possible ways to remedy future shortfalls. We also talk about your options and what should be considered in your decision.    Episode Highlights:  [02:28] Megan is extremely knowledgeable about Social Security.  [03:02] Should Social Security even be included in your financial plan? According to current data, by 2034, only 75% of Social Security revenue will be covered by current Social Security taxes.  [04:27] Ways to solve this revenue shortage would be to generate more taxes, push back the retirement age, and reduce benefits. [07:00] The main goal of Social Security is to supplement losses in income.  [07:33] Social Security was created in the 1930s as a type of social insurance that would create economic stability. [08:30] Full Retirement Age or FRA is the age when we can collect our full Social Security benefits. [09:41] There's a reduction in benefits when you take Social Security early. [10:31] After full retirement age, there's an 8% benefit increase every year up until age 70. [11:14] You can claim on your own work history, as a spouse or an ex-spouse, or survivor benefits. [13:38] Start in advance to apply for benefits.  [14:50] Look at your own personal health, longevity, and how you want to care for your spouse. [15:31] You need 40 credits to be eligible, and you can earn four credits a year. Your benefit is based on your highest 35 years of working history. [17:13] Consider your health when choosing to delay your benefit. If you live longer, you may want the higher benefit. If you have poor health, it may make sense to take it earlier. [18:12] It's also important to look at your cash flow needs. [18:45] We also need to consider our loved ones, because when one spouse passes the other spouse becomes eligible for survivor benefits. [21:42] We need to weigh the pros and cons of what's more important. There isn't always a cut and dry answer.   Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the CFP® certification mark, the CERTIFIED FINANCIAL PLANNER™ certification mark, and the CFP® certification mark (with plaque design) logo in the United States, which it authorizes use of by individuals who successfully complete CFP Board's initial and ongoing certification requirements.   Resources & Links Related to this Episode Wealthquest Get Started Living a Rich Life: The No-Regrets Guide to Building and Spending Wealth Megan Hammann Social Security Administration

Sam and Wealthquest President David Kern continue their insightful dialogue on giving and generosity in this episode. They delve into tax-deductible methods of giving, highlighting the benefits of donating appreciated shares to avoid capital gains taxes. The conversation also explores the types of shares that may not be ideal for donation.  Furthermore, they discuss the advantages of donor-advised funds, combining charitable giving with effective tax strategies. This episode emphasizes the importance of integrating generosity with a comprehensive financial plan, ensuring flexibility and tax benefits in your philanthropic efforts.   Episode Highlights:  [02:55] We're now shifting gears to gifting to nonprofits or charities. This would be any 5013c that doesn't pay income tax. [03:11] You can be charitable and benefit these organizations and get a tax benefit in the process.  [03:26] Gifting shares or assets to charities. If you sell a stock that has increased in value, you'll have to pay income tax on it. If you gift that stock to a charity, neither of you pay taxes on it. [04:00] You can also record this on your Schedule A to see if it works for you this tax year. [05:08] You don't want to donate shares that have lost value. You want to donate shares with the lowest cost basis or the greatest amount of appreciation. [06:27] Think of a donor-advised fund like a holding pen for charitable donors. This fund can also receive appreciated securities. [09:53] Bunching is two years worth of giving in one year.  [12:27] Qualified charitable distributions or QCDs. Required minimum distributions RMDs.  [14:19] If you're already charitably inclined and you're going to give a certain amount, use a QCD instead of paying taxes on your required minimum distributions. [17:25] You can also make charities the beneficiaries of your accounts. If you leave an IRA to a charity, they won't have to pay taxes on that.  [18:47] Bonus: Specific to Ohio. Scholarship granting organization SGO is a new Ohio based tax scholarship program. It receives contributions from donors and grants scholarships to eligible students. [20:11] Giving to an SGO will reduce state tax liability.   Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the CFP® certification mark, the CERTIFIED FINANCIAL PLANNER™ certification mark, and the CFP® certification mark (with plaque design) logo in the United States, which it authorizes use of by individuals who successfully complete CFP Board's initial and ongoing certification requirements.   Resources & Links Related to this Episode Wealthquest Get Started Living a Rich Life: The No-Regrets Guide to Building and Spending Wealth David Kern The Power of Strategic Giving to Individuals - Part 2 What Motivates Generosity? - Part 1 Ohio SGO

This is the time of year when we think about giving and generosity. This episode is the second in a three-part series on the topic. Sam and David Kern, president of Wealthquest, discuss strategic giving to individuals in this episode. They will then explore ways to give offering tax benefits in the third part of the series, airing next week. We discuss the emotional and psychological benefits of being generous and the two key ingredients of generosity: action and attitude. We also talk about identifying 'circuit breakers' that prevent us from being generous. Additionally, we explore how creating an 'abundance fund' can foster a generous mindset. David encapsulates this idea by saying he's never seen an unhappy generous person, underscoring the importance of giving. Next week, we'll focus more technically on the quantitative side of generosity. We're going to discuss strategies and tools that you can use to be more generous, increase efficiency, and achieve better tax benefits.   Episode Highlights:  [05:59] Giving and generosity towards individuals is usually non-tax deductible. Generosity for entities that we do get tax benefits from. [06:58] The lifetime gift and estate tax exemption is 13 million dollars. The yearly threshold is $17,000. This is the annual gift tax exclusion. [08:28] A form 709 or gift tax return is required for any amount over that $17,000. The numbers change every year, so they need to be double-checked. [10:27] Cash gifts with those strings attached or wonderful. Even if the money is used in frivolous ways people are learning. [10:42] You can open a Roth IRA for a child or grandchild if they have income and gift a contribution on their behalf. This can jump start their retirement and get them investing. [11:43] 529 or educational savings accounts are also very popular. All of the growth of these accounts can be used tax-free as long as it goes towards educational expenses. [12:53] You can also pay medical or tuition expenses on behalf of someone else. When you pay directly to the institution it doesn't count towards the lifetime gift exemption. [13:35] You can also give appreciated shares of stock. You're transferring shares and transferring the tax burden. [15:24] Paying directly to an institution for medical or tuition is not tax deductible.   Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the CFP® certification mark, the CERTIFIED FINANCIAL PLANNER™ certification mark, and the CFP® certification mark (with plaque design) logo in the United States, which it authorizes use of by individuals who successfully complete CFP Board's initial and ongoing certification requirements.   Resources & Links Related to this Episode Wealthquest Get Started Living a Rich Life: The No-Regrets Guide to Building and Spending Wealth David Kern

Sam dives into a Wall Street Journal article that discusses the findings of a study conducted by the Mercer CFA Institute on global retirement systems. The study assigns the US a grade of C+, indicating that Social Security and 401(k) plans leave Americans less secure than retirees in other parts of the world. The study ranked 47 countries, with the US finishing in the middle at 22nd place. It considered factors such as benefits, government debt, demographics, and home ownership. Sam elaborates on how our retirement systems stack up against those of other nations and offers insights on major pitfalls to avoid as one approaches retirement.   Episode Highlights:  [02:10] This episode is inspired by a Wall Street Journal article called The U.S. Gets a C+ in Retirement based on a study that ranked 47 countries on retirement.  [04:16] They looked at the public sector and the private sector or Social Security and company sponsored retirement plans. [04:32] Two to three decades ago the private sector mostly had pension plans or defined benefit plans. All of the responsibility for providing retirement fell on the employer and their plan. [05:54] We've now seen a big shift into 401(k) plans or defined contribution plans. Employers often match. The burden has now shifted on to the individual. [06:48] The public sector is largely Social Security. [07:37] The US has shifted from defined benefit plans to defined contribution plans, whereas other countries haven't made that shift. [08:25] In the US, the main way we're going to have retirement is from what we save. Social Security is a supplement. Some people may also have a pension plan. [09:06] In other countries, a government pension is the main source of retirement. [09:26] Pros of the US system include many great savings options and autonomy. The cons include the benefit of retirement falling upon us. [11:22] When the responsibility falls on us we have more fear and more worry which can create panic and bad decisions. [11:53] The antidote to fear and worry is having a financial plan that will give you some certainty.   Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the CFP® certification mark, the CERTIFIED FINANCIAL PLANNER™ certification mark, and the CFP® certification mark (with plaque design) logo in the United States, which it authorizes use of by individuals who successfully complete CFP Board's initial and ongoing certification requirements.   Resources & Links Related to this Episode Wealthquest Get Started Living a Rich Life: The No-Regrets Guide to Building and Spending Wealth The U.S. Gets a C+ in Retirement Mercer CFA Institute Global Pension Index 2023

This time of year, many people begin to reflect on the concepts of giving and generosity. In a conversation between Sam and Wealthquest President David Kern, they delve into the significance of generosity. They also explore the distinction between 'generosity' and 'giving back', emphasizing that generosity is characterized by intention and thoughtfulness. Additionally, they touch upon the idea of activating one's "generosity circuit breakers." These encompass the contrasts between being fortunate and self-made, feeling gratitude versus entitlement, and adopting an abundance versus scarcity mindset. Research indicates a robust correlation between generosity and overall life satisfaction. Notably, Wealthquest exemplifies generosity for its employees and aids clients in strengthening their capacity for generosity.   Episode Highlights:  [02:51] Generosity is seeking to enhance the lives of others and lift their burdens. The two main ingredients of generosity are action and attitude. [03:29] The key ingredient of generosity is the heart behind the action. Generosity really takes off when people emotionally step in. [04:48] We talk about giving back versus generosity. There's more satisfaction with true generosity. [06:59] Generosity is intentional, thoughtful, and truly seeking to benefit the life of someone else. [07:33] Because of the comprehensive service we provide at Wealthquest, we can see if a client is charitably minded. We have a lot of conversations about generosity with our clients, and we also help them be charitable in better ways. [09:04] It's okay to give and benefit from giving. [09:50] Generosity circuit breakers need to be flipped to the on position. The three common generosity circuit breakers include fortunate versus self-made, gratitude versus entitlement, and abundance versus scarcity mindset. [13:47] We love it when we can show clients where they have room for charity and see them start exercising those muscles. [14:28] One of the things centered around the Wealthquest social contract is generosity. When we model generosity to our staff, they will in turn be generous when they go out into the world. [15:15] We want to be generous with our benefits. We also have half day Fridays, so our employees can spend time with their families. [16:33] There's a strong correlation between generosity and overall satisfaction in life. [17:52] Practical ways to be generous. What tugs at your heartstrings? Start giving back a little ways.  [19:20] Open up an abundance fund. This is a separate account that you contribute to in order to be generous. [21:24] David models generosity for his kids in a way that they can see it.    Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the CFP® certification mark, the CERTIFIED FINANCIAL PLANNER™ certification mark, and the CFP® certification mark (with plaque design) logo in the United States, which it authorizes use of by individuals who successfully complete CFP Board's initial and ongoing certification requirements.   Resources & Links Related to this Episode Wealthquest Get Started Living a Rich Life: The No-Regrets Guide to Building and Spending Wealth David Kern President Wealthquest

Buying a home is a big decision. There's a lot of stress finding the right home, the right neighborhood, and having the right finances. You have to look at what you can afford and the future of the housing market. Will housing prices continue to climb? Will interest rates go down in the future?  This episode will shine light on some of these issues. Sam is joined by Senior Wealth Advisor, Adam Day to talk about whether you should buy a home in 2023 or wait it out. We talk about historical interest rates to help shed light on current interest rates. We talk about home values and how the lifestage that you are in will affect your choices.    Episode Highlights:  [04:23] Average interest rates in the 1980s were close to 18%. In the early 2000s, interest rates were near 7 or 8%. In 2020, interest rates for two and a half for 3%. Now they are around 7 or 8% again. [05:19] 3.7% is the average rate of all outstanding mortgages currently. [06:11] First time home buyers will think these current rates are really high if they didn't experience them in the '80s. [06:23] For retirees, it's often more about downsizing and using cash. [06:49] In 2020, median home prices were around $330,000. The median home price skyrocketed to $480,000. Recent data is now $416,000. [09:06] Adam has always moved from a life stage perspective, not because of the market. [10:08] Similar to the stock market, the real estate market is very hard to time. [11:52] If it's the right time for your family to change homes, and you have a financial plan to make it happen then buying could be a good decision for you. [12:46] If you're trying to decide whether you should rent or buy a house, it usually comes down to your money story. [14:23] We talk about the home capital gain exclusion for your primary residence. There are rules, but it's up to $250,000 for single people and $500,000 for married people. [15:12] Can you afford the payment is your first consideration. Is a higher payment worth it? Price and rate matter, but what's important to your family is an important matter. [17:24] Your home shouldn't be an investment, it should be a use asset. Even though, historically it has been a great investment. [19:53] There is some flexibility when you buy and sell. If you don't have to make a move, it's okay to sit around and see what's going to happen. There are also creative ways to purchase a house. [21:55] A home purchase doesn't have to be forever, and you are not stuck in the decision. [22:36] Practical tips include understanding that things can change in a few years. You can also get creative with your mortgage or your financial advisor might have some good strategies. [23:11] Understand your own money story and why you want to move. [23:39] It's also possible to assume loans from the original seller. This is the strategy to keep interest rates down. You just have to have enough cash to cover the difference between the mortgage and the home value. [24:23] Things to avoid include withdrawing from an IRA. Try to put enough down to avoid PMI. Look at the details of the loan and avoid unnecessary fees and take your time making the correct decision. [25:31] Do you need a home this year and does it make sense from a spending perspective?   Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the CFP® certification mark, the CERTIFIED FINANCIAL PLANNER™ certification mark, and the CFP® certification mark (with plaque design) logo in the United States, which it authorizes use of by individuals who successfully complete CFP Board's initial and ongoing certification requirements.   Resources & Links Related to this Episode Wealthquest Get Started Living a Rich Life: The No-Regrets Guide to Building and Spending Wealth Adam Day

Your employer funded insurance open enrollment period usually rolls around once a year. A lot of people don't put enough thought into their options and benefit choices. With a well rounded financial plan the type of coverage your family needs and benefits for your specific situation should be taken into account.  Sam is going to go over five things that you should consider when revising or selecting a health coverage plan. He goes into why it's so important to be proactive and to weigh the options available for you. He talks about benefits and drawbacks of having an HSA or an FSA, and even how you can be covered, get tax benefits, and have a little extra to invest.  Sam also talks about how he sees people using an HSA and how he recommends using one. He also talks about similarities and differences in an FSA. He also talks about use it or lose it, grace periods, and rollover options. The enrollment period is a good time to look at retirement benefits and other insurance options. Sam also talks about common pitfalls and some of the biggest mistakes that people make.    Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the CFP® certification mark, the CERTIFIED FINANCIAL PLANNER™ certification mark, and the CFP® certification mark (with plaque design) logo in the United States, which it authorizes use of by individuals who successfully complete CFP Board's initial and ongoing certification requirements.   Resources & Links Related to this Episode Wealthquest Get Started Living a Rich Life: The No-Regrets Guide to Building and Spending Wealth

Senior Wealth Advisor Shawn Scott joins Sam to discuss the best ways to choose an investment option for your needs. Some of the topics we discuss include fear-based investing, discipline, and understanding what you know and don't know. Additionally, we cover two problematic long-term investment strategies that are very common. Shawn speaks about the importance of diversification, maintaining a general strategy, and seeking help when needed. We also tackle tips to remain invested for the long haul. The conversation concludes with Shawn sharing a single piece of advice that he wishes he had received when he was younger.   Episode Highlights:  [02:11] How do consumers navigate the many investment options available? [03:46] Media pushes us towards investment options based on fear. This is why discipline and understanding what you know and don't know is so important. [04:29] Most options are more sophisticated than most of us need. Shawn talks about avoiding the overthinking trap. [05:14] Media's role used to be to inform us, but now they are about generating revenue. People are also more likely to remember negative things as opposed to positive things. Media intentionally creates fear. [07:12] Shawn talks about making decisions based on fear generated by media outlets. [08:45] The pitfalls of creating an investment structure based on what happened in the past. This strategy isn't based on future goals, it's based on some type of historical information. [10:18] People tend to react to fear. Managing fear and grief is one of the most important things an investor can do. [12:17] Historically the average stock market return is a little over 10%. [14:45] Self-managed investment options.  [16:43] Index funds are supposed to track a specific index. ETFs track the market, but they aren't a perfect representation.  [18:43] The S&P 500 are the 500 largest publicly traded companies in the US.  [19:42] If you are going to self-manage your investments, you really need to understand what you're going to own, including what the indexes actually track and what the funds consist of. [20:24] A passive mutual fund tracks an index. Active funds have a fund manager and a group of analysts to make decisions. [22:07] Robo advisor. This was introduced in 2008. It's a system that uses an algorithm to buy and diversify a basket of investments. It's mostly ETFs and mutual funds based on age and goals. [24:18] All firms aren't the same. It's important to know what services you need before hiring. How do you know what you actually need? [26:09] Real estate investing. Investing solely in anything is a terrible idea. You won't have diversification.  [30:37] The best thing anyone can do as a starting point is to have a conversation with a professional. [33:37] Almost all people could benefit from hiring a firm. [36:30] Shawn's advice is to understand the true value of compound interest and investing overtime.    Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the CFP® certification mark, the CERTIFIED FINANCIAL PLANNER™ certification mark, and the CFP® certification mark (with plaque design) logo in the United States, which it authorizes use of by individuals who successfully complete CFP Board's initial and ongoing certification requirements.   Resources & Links Related to this Episode Wealthquest Get Started Living a Rich Life: The No-Regrets Guide to Building and Spending Wealth Shawn M. Scott

David Kern, President of Wealthquest talks with Wealthquest CEO Wade Daniel about the origins and growth of Wealthquest. Wade graduated with a chemical engineering degree from University of Cincinnati. He became interested in finance and wanted to help other people with their finances. As he began working in the field, he discovered there was a disconnect when businesses had to outsource parts of the financial plans such as taxes or estate planning. He was a pioneer in implementing the all under one roof financial plan. In 2006, James Lenhoff and Wade Daniel were co-founders of Wealthquest. They implemented the all under one roof financial planning concept and took it to the next level. David shares when he joined the team and wisdom shared by James Lenhoff before 2020. They stopped growing the company and grew and refined the team in order to offer the best possible client services. After exploring the Wealthquest origin story, David and Wade share what's new at Wealthquest and talk about why business growth is so important.    Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the CFP® certification mark, the CERTIFIED FINANCIAL PLANNER™ certification mark, and the CFP® certification mark (with plaque design) logo in the United States, which it authorizes use of by individuals who successfully complete CFP Board's initial and ongoing certification requirements.   Resources & Links Related to this Episode Wealthquest Get Started Living a Rich Life: The No-Regrets Guide to Building and Spending Wealth David Kern, President Wealthquest Wade Daniel, CEO Wealthquest

There are two types of people in this world. There are people who understand compound interest and take advantage of it, and there are people who get taken advantage of by it. Sam talks about how there aren't a lot of people who really understand what compound interest is or how to really use its power.  Einstein referred to compound interest as the 8th wonder of the world. The person who understands it, earns it. The one who doesn't will pay it. Sam breaks down ways people avoid compound interest and shares an example to illustrate how it works. This episode will help encourage all of us to take advantage of this powerful tool.    Episode Highlights:  [02:35] Who gets taken advantage of by compound interest? We think of credit cards and personal loans with high interest rates. [03:15] There's also an opportunity cost of avoiding things, such as avoiding investing or saving and missing out on compound interest. [03:47] Sam shares an example to illustrate compound interest. [04:07] The rule of 72 tells us how long it will take our money to double. You divide 72 by your expected rate of return and you get an average of how long it takes to double your money. [05:35] We're going to use a 10% rate of return and divide 72 by 10. With this calculation, his money will double every 7 years. At first it's not that big of a gain, but as the cycle repeats his money grows exponentially. [08:23] It's not difficult to see how significant this growth can be when you add money over time. [08:52] What's your biggest asset? People often overlook how time is one of our biggest assets. [09:33] According to James, we'll take time and time takes time. Time is one of our biggest assets. [09:58] Most people save in a retirement account that's either a Roth account or a traditional account. Traditional retirement accounts get a tax break when you pay into it, and you don't pay taxes until you withdraw the money. [10:39] With a Roth IRA you invest after paying the taxes on the money. The money grows tax-free, and it's tax-free when you take it out. [11:13] If John contributed $1,000, and has 127,000 of market growth would he want it to be tax-free or tax upon withdrawal? There are pros and cons to each scenario but thinking about it this way is a helpful starting point. [11:55] This just illustrates that all compound interest isn't created equal. [12:14] Compound interest can also add significant estate planning issues. All of these things need to be thought through. Proper planning is the key.   Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the CFP® certification mark, the CERTIFIED FINANCIAL PLANNER™ certification mark, and the CFP® certification mark (with plaque design) logo in the United States, which it authorizes use of by individuals who successfully complete CFP Board's initial and ongoing certification requirements.   Resources & Links Related to this Episode Wealthquest Get Started Living a Rich Life: The No-Regrets Guide to Building and Spending Wealth Sam Martinez Wealthquest

Do you know your retirement number? Is there a magic number that exists? How useful are retirement calculator tools? We dive into all of this today. By the end of this episode, you should be able to tell when you have enough. Stay tuned to combat that scarcity mindset that may be telling you that you'll ever have enough.  I'm thrilled to be diving into this topic with Megan Hammann, the Director of Financial Planning at Wealthquest. Megan has an MBA, experience at a brokerage firm, large bank, and a CPA and advisory firm. She's been at Wealthquest since 2022 and is excited about helping clients align financial goals through a holistic planning process.    Episode Highlights:  [03:51] When people ask what their retirement number is they really want to know if they're going to be okay.  [04:29] There isn't a magic number that works for everyone. Everyone has a number that makes them feel comfortable, but there's so many variables that we don't know what that number is. [05:46] We know parts of the puzzle, but we won't know the number until we put all of the pieces together. [07:21] Life changes, so it's hard to know what we actually want in retirement especially when it's so far in the future. [08:03] What do I like to do? How will I spend my time? Have a general vision of where you'll fall. [09:15] Calculators usually ask general questions about your assets and your earnings etc. Then it generates a model based on when you want to retire. This can be a ballpark datapoint but not specific enough. [10:28] Megan talks about the 4% rule. You can also estimate retirement by percent of earnings. There's also a 300 rule. How much do I want to spend each month? [12:05] There are goalposts at certain ages for retirement savings. [12:56] It's important to understand that our income and earning life aren't linear. There will be times when we have more money and times when we need more money. [13:45] If you really want to know if you have enough, do a full financial plan. [14:23] Having as much information as possible can help offset the fear of the future that some people have. [16:59] We talk about catching up on our retirement savings. Focus on you and stop comparing. Find where things went wrong and do a self-assessment and use the tools available to get on track.  [18:49] Balancing can be hard. There are more ways to save. Follow general guidelines. Err on the side of retirement first. Put your mask on first.  [21:12] There's a whole other side to retirement when you think about the psychological impact. Finding purpose and knowing what retirement actually looks like is very important. [22:44] It's important to have open communication about what life will look like after retirement.   Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the CFP® certification mark, the CERTIFIED FINANCIAL PLANNER™ certification mark, and the CFP® certification mark (with plaque design) logo in the United States, which it authorizes use of by individuals who successfully complete CFP Board's initial and ongoing certification requirements.   Resources & Links Related to this Episode Wealthquest Get Started Living a Rich Life: The No-Regrets Guide to Building and Spending Wealth Megan Hammann

Sam and Adam Day, Senior Wealth Advisor for Wealthquest take a dive into AI by asking ChatGPT or Bard financial questions. We examine the answers and Adam shares whether he agrees or not. We talk about whether money makes people happier, the first steps of DIY financial planning, and more.  AI can be helpful, but can't really replace a human professional. There are quite a few things that aren't too bad. Stay tuned to learn if AI can be your financial advisor or at least start getting you pointed in the right direction.    Episode Highlights:  [03:23] Question #1 Will having a lot of money make me happy? Wealthier people tend to be happier, but prioritizing money over time can have an opposite effect. [04:38] According to Adam, there is a certain amount of money that makes you happier. [06:43] What's the first step for someone new to financial planning? Take stock of your current situation. [09:59] Once you get past the first couple steps you really need a human advisor. Everyone's situation and goals will be different.  [11:07] What makes a good financial advisor? Knowledge, competence, and being able to explain things clearly make a good advisor. Sam asks AI about tax law and tax harvesting.  [12:11] The AI response is that tax law harvesting is using losses to offset gains. AI did a good job at breaking it down for a six year old.  [15:19] Best ways to save on taxes as a married couple with three children under 10 years old. Answers include claiming the child tax credit, claiming dependent care credit, contributing to a 529 plan, making pre-tax contributions to your retirement savings account, and taking advantage of tax deductions and credits. [16:48] The AI failed to point out charitable deductions and itemizing. [18:58] Sam asks Adam a question about estate planning and what documents the average person needs.  [21:18] Should I see an attorney or try online software? There are pros and cons. Online can work for a simple situation. [23:03] AI shares Sam's best investment advice including starting early, investing for the long term, diversifying, investing in low cost index funds, rebalancing your portfolio regularly, don't panic sell, and speak with a financial advisor. [25:22] Having a real advisor can help you not to panic sell. [25:39] Adam has AI give Warren Buffett's best investing advice and compares it to Sam's. Invest in yourself! Don't lose money. Invest in businesses you understand. Be patient.    Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the CFP® certification mark, the CERTIFIED FINANCIAL PLANNER™ certification mark, and the CFP® certification mark (with plaque design) logo in the United States, which it authorizes use of by individuals who successfully complete CFP Board's initial and ongoing certification requirements.   Resources & Links Related to this Episode Wealthquest Get Started Living a Rich Life: The No-Regrets Guide to Building and Spending Wealth Adam Day Wealthquest

Dan Larson is the Vice President here at Wealthquest. He is an accountant. Prior to Wealthquest, he was a tax manager. He is the perfect person to talk about taxes, as we dive into five major tax opportunities that are often missed. We talk about data gathering and ways to get a jump start on the following year's taxes. He also shares a technique to avoid tax surprises and the dread associated with tax time. Dan talks about digital and paper hybrid record keeping, coordinating information with different advisors, and more.    Episode Highlights:  [03:56] A healthy way to think about taxes is to start preparing for the next year after you file.  [04:21] Data gathering is a big headache. It can be made a lot easier if you have an organized system throughout the year.  [05:21] A mid-year check-in can also be a great way to run a tax projection. Avoiding surprises is very helpful. [06:28] Statements are hybrid with digital and paper. It's important to have those records and keep copies for seven years.  [09:00] Dan walks us through issues that can happen when working with an investment manager and a tax professional. At Wealthquest, we coordinate everything in house, so the client doesn't have to worry about communication between professionals.  [13:05] The model of having all of the separate professionals under one roof and coordinating together is becoming more common. [14:16] Dan talks about how having wealth management and tax advice in-house is an advantage. [17:17] Coordinating financial planning and taxes is an advantage when it comes to building out financial expectations for life. Having a financial plan puts things in place well ahead of tax time. [20:08] A big part of estate planning is avoiding estate tax. Having coordinated advisors can help with legacy goals, charitable giving, and gifts to children. [22:32] Tax preparation is when you do your yearly taxes. Preparation is when you plan for your taxes in advance. Technical expertise is required to navigate the tax codes in both areas. [26:14] Dan shares his thoughts on TurboTax.  [28:39] Missed tax planning opportunities include not planning at all and deferring taxes as long as possible.  [30:37] Proactively managing gains and losses can also get missed. [31:44] Dan shares an example of efficient tax planning and portfolio rebalancing from a client perspective.    Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the CFP® certification mark, the CERTIFIED FINANCIAL PLANNER™ certification mark, and the CFP® certification mark (with plaque design) logo in the United States, which it authorizes use of by individuals who successfully complete CFP Board's initial and ongoing certification requirements.   Resources & Links Related to this Episode Wealthquest Get Started Living a Rich Life: The No-Regrets Guide to Building and Spending Wealth Dan Larson

The world of financial planning has changed significantly, attracting a new generation of people who are beginning their journey along these paths. As this profession evolves, the coming together of academia and industry becomes more critical than ever.In this episode, Jamie Hopkins, Managing Partner of Wealth Solutions, and Ana Trujillo Limón, Director, Coaching and Advisor Content, speak with Dr. Martin Seay, Ph.D., CFP®, Department Head and Professor of  Personal Financial Planning at Kansas State University.Together, they explore the evolution of financial planning and share valuable insights and experiences, highlighting the importance of supporting students from all walks of life and creating a clear career trajectory to succeed as a certified financial planner.Dr. Seay discusses: The evolution of the financial planning profession and how it is attracting younger individuals into the fieldHow financial planning has become a priority for firms and the increase in job opportunities for graduatesOrganizations like the FinServ Foundation and the CFP Board that are working to create opportunities for engagement between schools and firmsThe high burnout rates among financial advisors and the impact on the professionThe efforts to increase awareness and interest in the financial planning profession for high school students and parentsThe high retention rates among Certified Financial Planners (CFPs) and the importance of firms supporting students in obtaining their CFP certificationThe challenges in supporting advisors to reach higher levels of success and the need for intentional structures and supportAnd more!Connect with Jamie Hopkins and Ana Trujillo Limón: Carson Group LLCLinkedIn: Jamie HopkinsLinkedIn: Ana Trujillo LimónConnect with Martin Seay:LinkedIn: Martin SeayMartin Seay: Kansas State UniversityAbout our Guest: Martin Seay, Ph.D., CFP®, is a Professor and Department Head of Personal Financial Planning at Kansas State University, where he oversees the CFP Board registered undergraduate, graduate certificate, M.S., and Ph.D. programs. He currently serves on the Board of Directors of the CFP Board of Standards, which is charged with overseeing the CFP® marks. He previously served as national president of the Financial Planning Association® (FPA®) in 2020, the largest membership organization for CFP® professionals in the country.Dr. Seay's research focuses on borrowing decisions, how psychological characteristics shape financial behavior, and methodology in financial planning research. His work has been published in the Journal of Financial Counseling and Planning, Financial Services Review, Journal of Consumer Affairs, Journal of Financial Services Professionals, Journal of Financial Planning, and Journal of Financial Therapy among others.His research has been recognized by the 2014, 2017, and 2019 FPA Annual Conference Best Applied Research Paper Awards, the 2016 CFP Board of Standards' ACCI Financial Planning Award, and the 2016 Montgomery-Warschauer Award, which is awarded by the Journal of Financial Planning for the paper that provided the most outstanding contribution to the betterment of the profession in the previous year.read by Ana

LifeBlood: We talked about overcoming adversity, navigating impossible situations, how to advocate for yourself, the importance of evaluating companies for fit, and how to keep moving forward, with Cary Carbonaro, award-winning financial advisor, women's wealth expert, CFP Board ambassador, speaker and author.       Listen to learn how to prepare yourself for life's uncertainties! You can learn more about Cary at CaryCarbonaro.com Facebook, LinkedIn, and Twitter. Thanks, as always for listening! If you got some value and enjoyed the show, please leave us a review here: ​​https://ratethispodcast.com/lifebloodpodcast You can learn more about us at LifeBlood.Live, Twitter, LinkedIn, Instagram, YouTube and Facebook or you'd like to be a guest on the show, contact us at contact@LifeBlood.Live.  Stay up to date by getting our monthly updates. Want to say “Thanks!” You can buy us a cup of coffee. https://www.buymeacoffee.com/lifeblood