Podcast appearances and mentions of kathy longo

Episode #75: The 2022 Bear Market is Over The bottom of the 2022 bear market happened in mid-October when the market was down 25% on a year-to-date basis, and it was the second time the market hit a 25% dip last year, which is actually better than the average bear market loss of 34%. There has been upward momentum since then, and Jay Pluimer discusses the specifics in this optimistic episode. Want more Flourish Insights? Check out the Insights Blog at https://www.flourishinsights.com. If you enjoyed this episode, please write a review of this podcast on Apple Podcasts or Alexa. EPISODE TRANSCRIPT Hi everyone, Jay Pluimer here with Flourish Insights. As the director of investments at Flourish Wealth Management, I take pride in providing our clients, colleagues, and friends with resources and information that can help them make strategic and effective choices regarding their investments. If you've been enjoying the show, be sure to subscribe on Apple, Spotify, Google, or wherever you get your podcasts, so you'll never miss an episode. Today, we are discussing what measures are used to determine that The 2022 Bear Market is Over.   The technical definition of a Bear Market for Stocks is a loss of 20% or more, while the definition of a Bull Market for Stocks is a gain of 20% or more. Because bear markets frequently decline by more than 20%, the technical end of a bear market frequently happens before the market has made a full recovery. In addition, the math of bear and bull market cycles don't equate to a full recovery. For example, a market starting at $100 with a 20% drop will have a value of $80, but a gain of 20% from $80 results in a value of $96 which meets the bull market recovery but doesn't mean the investor has made all of their money back. The bottom of the 2022 bear market happened in mid-October when the market was down 25% on a year-to-date basis. That was the second time the market hit a 25% dip last year, which is actually better than the average bear market loss of 34%. There was a mini-rally for stocks in the latter part of the year as the S&P 500 Index ended with a loss of 19%. The market has continued to gain ground over the first 5-plus months of 2023, leading to a 20% gain from the mid-October 2022 bottom and the official end of the 2022 bear market. There have been a few different factors supporting the stock market recovery, some of which are more favorable than others. The least positive aspect of the 2023 recovery is the dominance of Big Tech stocks, particularly stocks like Nvidia and Apple with large exposure to Artificial Intelligence. This has led to what's called a narrow or shallow recovery because a small number of stocks have driven the market to a 20% recovery, meaning that a large number of companies have not made meaningful progress to recoup their losses from 2022. You may recall references to so-called FAANG stocks which referred to Facebook, Apple, Amazon, Netflix and Google, the Big Tech stocks that drove market performance for most of the 2010s. According to Goldman Sachs, the new acronym for Big Tech is MAGMA which stands for Meta (the new brand of Facebook), Amazon, Google, Microsoft, and Apple. These 5 stocks currently represent 24% of the S&P 500 Index and have represented an outsized percentage of stock market returns in 2023. For example, MAGMA stocks are up 42% year-to-date while the other 495 stocks in the Index are up a combined 2%. This lack of market depth is definitely a concern and will play a big role in determining whether or not the new bull market will be able to sustain itself. The other key drivers of the stock market recovery reflect optimism that (1) we are getting closer to the end of high inflation and that (2) the Federal Reserve will begin to cut interest rates at some point in 2023 or early 2024. We think the market might be early in the expectations for Fed rate cuts and that there is actually a good chance that there is at least one more rate hike before the end of the year, but we are more optimistic about the downward trend for inflation rates. The most recent Consumer Price Index or CPI data from April reflected an inflation rate of 5%, down significantly from the 2022 high of 9% but with room for additional progress toward the 2% target inflation rate. The 2022 bear market was the longest since the 1940s, lasting 14 months compared to the average duration of 12-months, while the 25% drop was below the bear market average of 34%. I won't miss the bear market but I'm not exactly rushing into the arms of the new bull market because it would be helpful to see more stocks participating in the recovery with a more definitive timeline for when the Fed will start to cut rates. In fact, we expect to experience a fair amount of stock market volatility over the next 3 to 6 months while we get clarity about progress for lowering inflation and whether or not the US will be able to avoid a recession. There could also be market swings if the Fed hikes interest rates or takes longer to begin cutting rates than market participants think currently. So although it's important to note the end of a bear market, we are balancing acknowledgment of the market transition with patience for a more sustained recovery.   If you enjoyed this episode, please take a moment to rate and review us on Apple Podcasts so that more investors like you can find the show. And don't forget to check out Flourish Wealth Management's other podcast, Flourish Financially with Kathy Longo, available on all your favorite podcast providers. Thanks for listening, and don't forget to stay focused and think long-term. Send us your feedback online: https://pinecast.com/feedback/flourish-insights/425f32af-969d-46e1-8749-733a767ff11d

Episode #74: Emotional Roller-Coaster Ride With the last market all-time high occurring more than 450 days ago - and another not yet in sight - the stock market has been quite the emotional rollercoaster for investors. Looking at history, though, shows that time favors the patient investor. Jay Pluimer shares tips on how to weather the ride back to the top in this optimistic episode. Always check back next week for more Flourish Insights with Jay Pluimer and don't forget to check out our insights blog at https://www.flourishinsights.com. Enjoying the show? Please write a review of this podcast on Apple Podcasts or Alexa! Episode Transcript: Hi everyone, Jay Pluimer here with Flourish Insights. As the director of investments at Flourish Wealth Management, I take pride in providing our clients, colleagues, and friends with resources and information that can help them make strategic and effective choices regarding their investments. If you've been enjoying the show, be sure to subscribe on Apple, Spotify, Google, or wherever you get your podcasts, so you'll never miss an episode. Today, we are discussing why investing in the stock market leads to an Emotional Roller Coaster Ride.   The last time the stock market hit an all-time high was on January 3rd of 2022, which is over 450 days ago. It probably feels like longer for most investors, and there doesn't seem to be much hope on the near-term horizon that we will experience another market peak any time soon. Welcome to the emotional roller coaster ride called the Stock Market! There have been 11 Bear Markets with a drop of over 20% since the mid-1950s. The average stock market loss during those downturns has been a painful 35% and Bear Markets have lasted an average of 14 months. In addition, it has generally taken over 3 years for a market to exceed the previous all-time high through a Bear Market. Those are some scary statistics and are a big reason why investors generally have a much more vivid memory of the fall down a roller coaster than the slow trip to the prior peak. To brighten the mood a little, the stock market has had positive returns over 100% of the 20-year time periods and 95% of 10-year time periods. That means time is definitely in favor of the patient investor who keeps their money in the stock market for longer periods of time. Five-year returns have been positive over 88% of the time and 3-year returns have been positive over 84% of the time, meaning that even medium-term investors have a very good chance of making money on their investments. However, the numbers become closer to a coin flip when looking at 1-day stock market returns which are positive around 55% of the time. One-month returns aren't much better at 63% showing that investors will experience a lot of unfavorable daily losses on the way to experiencing a positive 20-year return. I think it can be helpful to compare the emotional ups and downs of the stock market to a roller coaster ride because there are significant similarities between the two. For example, 100% of investors make money over 20-year time periods and close to 100% of people who ride roller coasters are alive at the end of the ride. In addition, the downturns tend to produce screams and a desire to shut your eyes until the bad part is over. The ride to the top of the roller coaster is generally less exciting or memorable, except that part toward the end when the peak is approaching, which is also where the anxiety starts to build before everything turns downward. Those last couple of sentences were about the stock market but are hard to differentiate from the description of a roller coaster ride. I'm afraid of heights and am reluctant to ride roller coasters, but no matter how high my anxiety spikes during the ride I feel safe knowing I'll get through the ride. I encourage investors and clients to embrace a similar approach when looking at the daily, weekly, or monthly ups and downs in the stock market. It can be hard to remember hitting a peak while suffering through the initial downturn and the following smaller hills afterwards, but it's important to know that another peak is on its way. The biggest difference between a roller coaster and the stock market is that we can usually see when another upswing is coming our way on a roller coaster, while stock investors need to stay patient and remember that a recovery is inevitable no matter how bleak things might feel toward the bottom of the downturn. And please remember – the more often you look at your stock market investments the more likely it will make you feel terrible and lose hope for a recovery, even when your brain knows that your investments will end up with positive returns over longer periods of time.   If you enjoyed this episode, please take a moment to rate and review us on Apple Podcasts so that more investors like you can find the show. And don't forget to check out Flourish Wealth Management's other podcast, Flourish Financially with Kathy Longo, available on all your favorite podcast providers. Thanks for listening, and don't forget to stay focused and think long-term. Send us your feedback online: https://pinecast.com/feedback/flourish-insights/7f9db6c5-8268-49d4-937e-7cd6ba2e83a9

Episode #72: "Mr. Worldwide" is Back For the past 14 years, U.S. stocks have outperformed international stocks by a wide margin. However, things have begun to change over the last several months. Although it's too early to tell at this point whether or not this trend change is sustainable, there are reasons to favor International stocks in the current market environment. Always check back next week for more Flourish Insights with Jay Pluimer and don't forget to check out our insights blog at https://www.flourishinsights.com Please write a review of this podcast on Apple Podcasts or Alexa Episode Transcript: Hi everyone, Jay Pluimer here with Flourish Insights. As the director of investments at Flourish Wealth Management, I take pride in providing our clients, colleagues, and friends with resources and information that can help them make strategic and effective choices regarding their investments. If you've been enjoying the show, be sure to subscribe on Apple, Spotify, Google, or wherever you get your podcasts, so you'll never miss an episode. Today, we are discussing why “Mr. Worldwide” is Back.   For pop music fans, the title “Mr. Worldwide” is immediately associated with the artist named Pitbull. I like his music because it incorporates a global beat and brings a lot of positive energy. It's also fortunate that Pitbull has collaborated with a large number of other music stars because that brought a lot of depth to his music. He gave himself the title “Mr. Worldwide” based on the premise that his songs incorporated themes and genres from around the world, that he toured the world performing his music, and that as part of an immigrant family growing up in the United States Pitbull represents the American Dream of success that is generally shared around the world. I promise that is the end of my efforts to take a deep dive into pop music culture! Today's podcast is really about the positive returns from International Stock investments which are affirming the desire to have a globally diversified investment portfolio. We frequently reference a chart in client meetings from JP Morgan showing that US Stocks have outperformed International Stocks for over 14 years with a performance advantage of over 275%. It has been difficult to justify global diversification over that time period because US Stocks were providing better performance almost every year, and frequently with significantly better returns. However, International Stocks have flipped the script over the past few months. The MSCI Europe Asia Far East (aka EAFE) market Index is up over 23% since November 1st of 2022 compared to 7% for the S&P 500 Index. That is the largest performance differential between these two stock market indexes over the past 15 years and the first that has demonstrably favored International stocks. Although it's too early to tell at this point whether or not this trend change is sustainable, there are reasons to favor International stocks in the current market environment. The past 10+ years featured low inflation and historically low interest rates, an environment that favored Growth-oriented investments. Technology and Communications stocks represent 30% of the S&P 500 Index compared to just 15% for the MSCI EAFE, so a favorable environment for Growth stocks will consistently favor US markets. However, a period with moderate inflation and moderate interest rates will favor stocks that have consistent revenues, profits, and favorable valuations (also known as Value stocks). The EAFE Index has a 47% allocation to Value sectors like Industrials, Financials, Energy, and Materials compared to 27% for the S&P 500 Index. Assuming the era of free money is over, there are reasons to add exposure to Value investments. A sustained period of moderate interest rates is favorable for Financial Services companies like banks because they will be able to generate more revenues from loans with higher interest rate payments. In addition, most Financial Services stocks have relatively low prices due to mediocre long-term performance. Similarly, Industrial stocks have lagged due to a lack of investment in manufacturing over the past decade but the transition to “near-shoring” is adding manufacturing capabilities in India, Mexico, and Canada as companies shift away from China. The emphasis on renewable energy also means that many of the existing manufacturing facilities are being updated to be more efficient and sustainable across the globe. The last time period of sustained International Stock outperformance was in the 2000s before the Great Recession. International Stocks outperformed by over 65% during those 7 years, which was the longest time period of outperformance by either US or International Stocks until the recent 14+ years of US stock market dominance. We have always incorporated a global stock market approach in client portfolios at Flourish with International and Emerging Markets representing 30% to 35% of the stock investments. The commitment to International Stock diversification has consistently demonstrated benefits from a risk reduction standpoint, and it would be nice if clients experience a performance benefit for the first time in the 9-year history of Flourish. Although our Investment Committee has not made a decision to actively increase exposure to International Stocks at this time, it will be an important topic of discussion in our monthly meetings as we explore tactical asset allocation opportunities.   If you enjoyed this episode, please take a moment to rate and review us on Apple Podcasts so that more investors like you can find the show. And don't forget to check out Flourish Wealth Management's other podcast, Flourish Financially with Kathy Longo, available on all your favorite podcast providers. Thanks for listening, and don't forget to stay focused and think long-term. Send us your feedback online: https://pinecast.com/feedback/flourish-insights/e0080198-08e3-4d5b-9651-8b13a6ef2566

Episode #71: The Debt Ceiling Question The U.S. Government hit its legal debt limit of $31.4 trillion in debt on January 19, 2023, and we're getting closer and closer to June - when the 6-month extension expires. So, will Congress take measures to reset the limit? Will we have another close call? What does it all mean for the markets? I answer these questions and more in this episode. Want more Flourish Insights? Check out our insights blog at https://www.flourishinsights.com EPISODE TRANSCRIPT: Hi everyone, Jay Pluimer here with Flourish Insights. As the director of investments at Flourish Wealth Management, I take pride in providing our clients, colleagues, and friends with resources and information that can help them make strategic and effective choices regarding their investments. If you've been enjoying the show, be sure to subscribe on Apple, Spotify, Google, or wherever you get your podcasts, so you'll never miss an episode. Today, we are discussing The Debt Ceiling Question.   An interesting comment about recording this episode in late February is that over 95% of the articles I looked at about the debt ceiling were dated in mid- to late-January. That's odd because we are a month closer to running out of money but conversations about the debt ceiling are no longer grabbing headlines or being featured in doom-and-gloom articles. Just a guess, but debt ceiling articles will become all rage again and grabbing attention at some point in June because that's when the debt ceiling will be approaching a final expiration date. The US Government hit its legal debt limit of $31.4 trillion in debt on January 19th, 2023. By definition, the debt ceiling sets the limit that the US Government can borrow to keep the country running. The US has used debt ceilings since 1917 to cap government spending, although its been a very flexible cap that has been raised or suspended 102 times over the past 104 years. The US can continue to spend and borrow money for a few months due to “extraordinary measures” by the Treasury Department and the Federal Reserve, but those can't keep the government afloat for more than about 6 months. Congress is in charge of the debt ceiling and is responsible for resetting the debt limit as needed. The last extension took place with minimal fanfare back in 2021 when Covid relief spending still had bipartisan support. In contrast, partisanship is all the rage in Washington DC these days as both sides of the political aisle are using the debt ceiling topic as a beach ball to whack back and forth in the Halls of Congress. The odds are in favor of a deal happening at some point over the next few months because there has never been a time when the US failed to increase the debt ceiling or defaulted on debt payments. The closest call to a default took place in 2011 when negotiations concluded just 2 days before the US was going to run out of money. The close call resulted in the first and only downgrade for the US Credit Rating from AAA to AA+, plus the US Dollar sold off and the stock market dropped by over 16%. An uncomfortable similarity between now and 2011 is that we had the exact same political configuration then as we do today with a Democratic President and Senate paired with a Republican majority in the House of Representatives. Many analysts and commentators have expressed surprise that the US Stock Market is up over 8% through the first 7 weeks of the year with the debt ceiling crisis looming over the markets. Without getting into the weeds of political discourse in Washington DC, both parties have legitimate arguments about how the US Government should or shouldn't spend money in the future. Although there don't seem to be any adults in the room to help politicians put their egos on the back burner and negotiate in good faith at the moment, there is hope that fear will eventually provide the motivation necessary for a solution to take place. And there is good reason for politicians from whichever party looks most responsible for failing to negotiate in good faith to be fearful because Republicans took the brunt of the blame for the debt ceiling crisis in 2011 and then performed poorly at the polls during the 2012 election. From my perspective, the debt ceiling crisis will most likely get lumped into conversations about persistently high levels of inflation that will continue to be a problem through the first half of 2023. Although these considerations are independent of each other, it's hard to argue with the coincidence when two worrisome things are happening at the same time. However, if the stock and bond markets start to dip in April and May due to these concerns that will put additional pressure on Congress to make a deal. The most likely outcome is increased market volatility with the potential to give up most or all of the gains from the first couple of months of 2023 until a deal happens. At that point we expect the Fed to be closer to the end of their interest rate increases which should provide a dual tailwind for the markets during the second half of the year. What is the worst-case scenario? There are scenarios where hardliners from either or both political parties refuse to negotiate and commit to turning the global markets upside down. That could put not only the credit rating of US debt at risk but it would also likely result in a significant downfall for the US Dollar, creating a powerful double whammy that would be hard to recover from. The global economy does not want this scenario to take place because there isn't another great option for a default currency or a safe lender that issues as much debt as the US does on an annual basis. I don't want to go too far down this line of thought because the chances of a default happening are low…but they aren't zero. What should investors do to prepare for something that may or may not create significant market turmoil? Historical evidence consistently demonstrates that the best option is to stay fully invested, maintain a diversified portfolio, add money if possible during a downturn, and make sure you have an emergency reserve to support at least 6 months of spending if a worst-case scenario takes place. Our Team at Flourish will provide as much education as possible throughout the political negotiating process, staying optimistic for a timely resolution while also being prepared for a default. In addition, I recommend that you avoid getting too invested in watching headlines or articles while the politicians in Washington DC play beach volleyball with the debt ceiling topic. None of us can influence this conversation until the next time we vote, so it won't help anybody to get too wrapped up in the debt ceiling conversation.   If you enjoyed this episode, please take a moment to rate and review us on Apple Podcasts so that more investors like you can find the show. And don't forget to check out Flourish Wealth Management's other podcast, Flourish Financially with Kathy Longo, available on all your favorite podcast providers. Thanks for listening, and don't forget to stay focused and think long-term.   Send us your feedback online: https://pinecast.com/feedback/flourish-insights/a384097b-b182-4f0a-8201-423014e67b99

The common spot business owners always point to when asked about challenges is letting go and learning to delegate. It's extremely difficult to turn responsibility over to someone who might not have the same level of knowledge or passion over the business, but it's critical to growth and balance.  Today's guest has learned that lesson and focusing every day on doing her best regardless of outcome. Kathy Longo is a Certified Financial Planner® practitioner, Chartered Advisor in Philanthropy®, and a Certified Divorce Financial Analyst with over twenty-five years of wealth management experience.    Join us today as we discuss these things: How she found the profession in college and followed that passion ever since. (2:02) Doing her best and letting go of the outcomes is a key to balance.  (4:56) What has she gained the most from having mentors and other professionals. (6:30) The challenges to growing and scaling teams and putting standards and processes in place to manage it all. (11:15) Ways to stay centered and focus on our values.  (17:48)  The advice she'd give other advisors struggling with balance. (20:49)     RESOURCES Learn more:  https://www.flourishwealthmanagement.com/  https://www.kathylongo.com/ Email: travis@travisparry.com YouTube: https://www.youtube.com/channel/UC46ekvB-U-CJDdsd7aqJMuA  Get Travis' newest book!  

Episode #68: 2022 - A Year of Hard Lessons Much of 2022 gave us market events that had a negative impact on performance - and created headlines focused on short-term market movements. However, long-term investors can learn a lot from the past 12 months, too. In this episode, we'll review stats and facts with an eye to the future to help you make smart investment decisions in 2023 and beyond. Always check back next week for more Flourish Insights with Jay Pluimer and don't forget to check out our insights blog at https://www.flourishinsights.com Please write a review of this podcast on Apple Podcasts or Alexa EPISODE TRANSCRIPT: Hi everyone, Jay Pluimer here with Flourish Insights. As the director of investments at Flourish Wealth Management, I take pride in providing our clients, colleagues, and friends with resources and information that can help them make strategic and effective choices regarding their investments. If you've been enjoying the show, be sure to subscribe on Apple Podcasts, Spotify, Google Podcasts, or wherever you get your podcasts, so you'll never miss an episode. Today, we are discussing 2022 – A Year of Hard Lessons.   There were a lot of historic market events that took place during 2022. Although most of those events had a negative impact on performance on client account values, long-term investors can learn a lot from the past 12 months. I prefer to avoid using terms like “unprecedented” or “historic” in client conversations because they tend to put a lot of emphasis on short-term market movements and feed into mass media storylines. However, a year like 2022 had so many different things happen that either had never happened before or hadn't happened in the same way that there were a lot of learning opportunities. My goal with this podcast episode is to share some of the stats and facts from 2022 with an emphasis on what we can learn to help with future investment decisions. Stocks and Bonds both fell by double digits in 2022. It's rare for both markets to lose money at the same time, just 4 times in the past 100 years, but this was the first time ever when Stocks and Bonds both lost over 10% in the same year. The lesson is that Bonds are an important tool to decrease portfolio volatility, with the caveat that the diversification didn't work in a rapidly rising interest rate environment. The Federal Reserve wanted the Stock market to fall. Although the primary target for Fed rate hikes was to reduce inflation, a preferred side-effect was to reduce stock market valuations after hitting record highs in 2021. There were multiple Federal Reserve Governors who went on the record talking about the Stock market, noting that falling stock markets would reduce wealth and decrease consumer spending. I don't recall a situation where the Fed targeted stocks in this way, so it's important to learn how they view stock market investments. Mortgage rates doubled and then some last year. Mortgage rates hit historic lows in 2021 and supported a red-hot housing market where prices were increasing at an unsustainable rate. I'm sure we all remember stories of houses selling at prices well above ask, all-cash deals, and buys without an inspection (or even seeing the house in-person). Mortgage rates of 7% or more in 2022 sucked the air out of demand for home purchases and took a big bite out of home prices. It makes sense that a rising interest rate environment would significantly increase mortgage rates, but the impact on the housing market could be felt throughout 2023 and beyond if mortgage rates stay above 5% for an extended period. Cryptocurrencies were not an inflation hedge. Although I am on record as a crypto skeptic, I was open to the premise that they were an uncorrelated asset that wouldn't be affected by rising Fed interest rates. The premise was that the various cryptocurrencies were independent of the Federal Reserve, government spending, and inflation. Unfortunately for crypto investors, this premise did not hold true with various cryptocurrencies down 60% or more. It's a good reminder of the lesson that just because an investment's characteristics are described in a certain way, investors should wait to see if those alleged characteristics hold up in the real world. My final lesson from 2022 is that gas price fluctuations don't necessarily dictate whether or not it makes sense to invest in sustainable energy. There was justifiable concern about the ability to fill gas tanks when the price of gas went over $5 a gallon after Russia invaded Ukraine in early 2022, but prices eventually dipped back below $3 a gallon. I read a lot of articles in the first half of the year blaming governments and corporations for pursuing solar and wind power generation because none of those could fill up a tank of gas. In the end, disruptions in the supply of gas are independent of long-term investments in sustainable energy resources, particularly when the cost of the sustainable resources are decreasing on a consistent basis regardless of geopolitical events. I hope this was a helpful opportunity to revisit various aspects of market activity from 2022 in a growth mindset. I'm sure there will be more surprises and lessons to learn throughout 2023 and in future years, one of the many characteristics of investing that I find to be challenging and rewarding in equal measures. Hopefully, these lessons will lead to a patient investment approach that emphasizes long-term growth of assets over short-term trading opportunities. Best wishes for success in 2023 and beyond!   If you enjoyed this episode, please take a moment to rate and review us on Apple Podcasts so that more investors like you can find the show. And don't forget to check out Flourish Wealth Management's other podcast, Flourish Financially with Kathy Longo, available on all your favorite podcast providers. Thanks for listening, and don't forget to stay focused and think long-term. Send us your feedback online: https://pinecast.com/feedback/flourish-insights/bfd925f2-5a27-4b66-8b0d-0844027788f6

Episode #67: Bonds Aweigh There are two major questions many investors are asking with regard to the bond market these days, and we'll examine both in this episode. We'll also discuss the impact of inflation, provide historical context, and share the Flourish Wealth Management approach to client portfolios within this context. Want more Flourish Insights with Jay Pluimer? Check out our insights blog at https://www.flourishinsights.com If you're enjoying this podcast, please write a review of this podcast on Apple Podcasts or Alexa EPISODE TRANSCRIPT Hi everyone, Jay Pluimer here with Flourish Insights. As the director of investments at Flourish Wealth Management, I take pride in providing our clients, colleagues, and friends with resources and information that can help them make strategic and effective choices regarding their investments. If you've been enjoying the show, be sure to subscribe on Apple Podcasts, Spotify, Google Podcasts, or wherever you get your podcasts, so you'll never miss an episode. Today, we are discussing the state of the bond market while putting the bad performance from the first half of 2022 into context. When interest rates go up, bond prices go down. The price impact can be particularly painful when bond yields are at historically low levels and can't provide much of an offset. This has been the story for bond markets in 2022 as interest rates have risen at a staggering pace on the backs of high inflation expectations and aggressive interest rate hike policies from the Federal Reserve. It's important to note that although we will be focused on the US Bond Market in this episode, 40 countries are currently raising interest rates in efforts to fight high global inflation rates, meaning we are not alone with this problem and there is no place to hide from the bad environment. Bond prices have been falling across the spectrum, hitting corporate and municipal bonds at the same time while causing the worst returns in over 40 years. As of June 30th, UltraShort Bonds had lost 3%, Short-Term Bonds dropped 7%, Core Bonds were down 10%, and High Yield Bonds were down over 14%. This is the first time since 1994 that stocks and bonds have both lost money at the same time. These dramatic losses raise a couple questions. The first question is whether or not we are in a Bond Bear Market. We all know that a 20% drop in the Stock Market is the definition of a Bear Market for stocks, but there isn't a similarly clear definition for bonds. Part of the reason we don't have a definition for bonds is that they have been in a Bull Market for the past 40 years during a mostly declining interest rate environment, plus it's extremely rare for bond investments to fall that much. If a 10% loss for long-term bonds and a 5% loss for core bonds define a bear market, then we have definitely exceeded those benchmarks. The last broad-based bear market for bonds occurred from 1960-1981, during a period of high inflation in the US. The yield on a 10-year US Treasury rose from 3.9% to 15.8% during that time. Since bond prices fall when interest rates rise, we would expect the total return on the 10-year Treasury note to have been abysmal during that period. In fact, while annual returns ranged from -5.4% to 18.3%, the average annualized return during this period was 4% because as interest rates rose, income and principal payments could be reinvested at higher rates and offset the impact of price decreases. The second question is whether or not now is a good time to buy into the bond market. We have been encouraging clients with cash on the sidelines to add stock exposure while the market is on sale by 20%, but we are not as optimistic about bonds at the moment. The first consideration is that the Federal Reserve is not done raising interest rates, so the yield curve could continue to be a headwind for bond investors. In addition, core and long-term bond rates have not moved up in tandem, with short-term rates leading to a slightly inverted yield curve, an environment that is not favorable for new investments. Although bond yields are higher now than 6 months ago, we could continue to see negative bond returns through the rest of the year. In addition, looking at real returns for bonds means calculating the current return minus inflation, meaning that a 3% return for bonds over the next 6 to 12 months has a negative real return of 6% when inflation is at 9%. Our approach in client portfolios over the past few months has been to purchase short-term CDs, between 6 and 24 months, to capture moderate yields between 2.5% and 3.5% while protecting the principal of the investments. Staying short-term also maintains flexibility to buy higher yielding bonds in the future if the Fed continues to increase interest rates. We feel this provides a safe approach to capture positive bond yields to offset some of the damage from earlier in the year, but we will continue to closely monitor the bond markets for investment opportunities. Hopefully the next couple of years will be more favorable for bond investors so we can recover from historically bad bond market returns in 2022, understanding that bonds continue to be an important part of client portfolios because they reduce risk for a diversified portfolio while providing reliable income. If you enjoyed this episode, please take a moment to rate and review us on Apple Podcasts so that more investors like you can find the show. And don't forget to check out Flourish Wealth Management's other podcast, Flourish Financially with Kathy Longo, available on all your favorite podcast providers. Thanks for listening, and don't forget to stay focused and think long-term. Send us your feedback online: https://pinecast.com/feedback/flourish-insights/72294d5b-2ad9-400e-ba93-792dda8cac63

Episode #64: Tech Wreck Over the last few weeks, we've experienced perhaps the most significant market decline of 2022, and many investors see nothing but a bleak outlook ahead. Tech stocks, in particular, have taken a beating. However, analyzing statistics about drawdowns and looking to history as a guide is helpful in understanding why it's happening - and why there's still a great probability for positive returns in 2022. Want more Flourish Insights with Jay Pluimer? Check out our Insights blog at https://www.flourishinsights.com. Like what you hear? Please write a review of this podcast on Apple Podcasts or Alexa EPISODE TRANSCRIPT Hi everyone, Jay Pluimer here with Flourish Insights. As the Director of Investments at Flourish Wealth Management, I take pride in providing our clients, colleagues, and friends with resources and information that can help them make strategic and effective choices regarding their investments. If you've been enjoying the show, be sure to subscribe on Apple Podcasts, Spotify, Google Podcasts, or wherever you get your podcasts, so you'll never miss an episode. Today, we're talking about the ongoing Tech Wreck. In direct contrast to the most recent episode of Flourish Insights about Silver Linings, the stock market has been experiencing another steep decline over the past couple of weeks. This is the third time we've experienced a dip in the markets during 2022, and so far it seems to be the most aggressive with a couple of days when the S&P 500 Index dropped by over 2%. Small Cap Growth and Large Cap Technology stocks have been hit even harder and are both in Bear Market territory, meaning they have lost over 20% so far this year. Although it seems like the S&P 500 has done as bad or worse this year, Large Cap Stocks are down around 15% so far this year. An important statistic during periods when stock prices are dropping is that the market spends about one-third of the time in drawdown. Drawdowns have happened in 33 of the 96 years that we have market data. The drawdown actually has two components – the decline and the recovery. The decline is what we are in right now when the market is falling and nobody seems to know how long it will last or how low the market will go. Bear markets have historically lasted a little over a year with a total loss of around 33%. However, at some point the downward slide ends and the recovery stage begins until the market reaches the pre-downturn level. It might help to know that the average annual market drop over the past 40 years is 14%. The market is down at some point during the year 100% of the time but has a positive return 75% of the time. That means that our current loss of 15% is pretty average based on market activity over the past 40 years, and that there is still a 75% chance of a positive return in 2022. But let's talk about why the market downturn this year feels so bleak. The barrage of negative headlines about inflation, rising food prices, the War in Ukraine, and pain at the pump is a lot to bear for investors. Add in worries about a recession from aggressive Federal Reserve interest rate hikes and it's not a surprise that investors are questioning why they should stay in the market. (By the way, people definitely should stay in the market or they will lock in the year-to-date losses and miss out on the eventual recovery.) The hardest hit part of the market so far has been Large Cap Technology and Communications stocks. These companies make up the majority of the NASDAQ Composite which is down about 26% this year. It's a grim part of the market with 4,700 stocks where 61% of those stocks are down more than 20%, 43% of the stocks are down more than 40%, and 29% are down over 60%. Some of the notable losers this year include companies that had benefited from the COVID economy, including Zoom, Netflix, and Shopify, all of which are down over 70% this year. There are a few reasons why companies in the NASDAQ Composite are taking the biggest hits from the correction. The first reason is valuation, meaning the stock prices for these companies had been very high after 3 consecutive years of big gains. Stock price estimates are based in part on calculations that use the discount rate, which has been basically zero for the past couple of years but is on the way up with every Fed rate hike. Another hit from higher interest rates is the significant amount of bond debt that these companies have taken on over the past few years, initially issuing record levels of new bond debt to capitalize on the zero interest rate environment but now paying the price for that debt as interest rates spike. Technology and Communications companies represent over 60% of the NASDAQ Composite compared to 35% of the S&P 500 Index. These companies have been driving stock market returns for the past 10+ years, generating between 20% and 40% of the returns in a given year. For example, the so-called FAANG stocks of Facebook, Apple, Amazon, Netflix, and Google have returned over 40% per year for the past 5 years while representing almost 25% of the S&P 500 Index and 40% of the NASDAQ. Those stocks are down between 14% (Apple) and 72% (Netflix) so far this year, leading the way for the Tech Wreck we are experiencing at the moment. It's hard to know what's next at this point. Historical evidence shows that we could be close to the bottom of the market dip or at the halfway point of a larger decline. One thing I can be sure of is that companies like Netflix and Peloton still have millions of subscribers and continue to grow, just not at the astronomic rates experienced in 2020. Zoom is here to stay as an important office resource and most of the restaurants I've visited over the past year use point of sale technology from Square. I can't fully explain why each of those stocks have dropped over 60% this year, but they are good businesses with real revenues and attractive growth opportunities, so my expectation is that investors will start to buy those stocks again at some point. The same can be said for most of the stocks that have been beaten up during the Tech Wreck. This is definitely NOT a repeat of the year 2000 when companies like Pets.com, Global Crossing, and Palm went out of business in the blink of an eye. Although I doubt we have seen the bottom of the Tech Wreck, history shows that these companies will experience a recovery at some point on their way to setting new record highs. Hopefully that turning point will happen sooner rather than later. If you enjoyed this episode, please take a moment to rate and review us on Apple Podcasts so that more investors like you can find the show. And don't forget to check out Flourish Wealth Management's other podcast, Flourish Financially with Kathy Longo, available on all your favorite podcast providers. Thanks for listening, and don't forget to stay focused and think long-term. Send us your feedback online: https://pinecast.com/feedback/flourish-insights/0df6b57d-7d90-4bcd-b1cb-32558c8d40b7

Download our Guide on “How To Reach $100M+ In Managed Assets” for FREE by going to https://financialadvisorsworkshop.com/ Kathy Longo (https://www.flourishwealthmanagement.com/), the President & Founder of Flourish Wealth Management. Kathy Longo brings over 25 years of expertise and experience to Flourish Wealth Management®. Over the years, she gained extensive knowledge and wisdom working as a wealth manager, financial planner, firm manager and business owner at notable, various sized companies in both Chicago and Minneapolis. https://www.linkedin.com/in/kathleenlongo https://www.flourishwealthmanagement.com/ To see short videos of all our best Financial Advisor Business Growth tips from each episode follow us on: TikTok: https://www.tiktok.com/@faworkshop Instagram: https://www.instagram.com/FinancialAdvisorsWorkshop YouTube: https://www.youtube.com/channel/UCFRh9BxjF0cT7PdkEhsg6lw Facebook: https://www.facebook.com/FinancialAdvisorsWorkshop Twitter: https://twitter.com/FAsWorkshop iTunes:https://podcasts.apple.com/us/podcast/financial-advisors-workshop-with-brian-kasal/id1614768408 Spotify: https://open.spotify.com/show/4OB78889GRx2FHjvWtsyeE Website: https://financialadvisorsworkshop.com/ Interested in working at FourStar: https://fourstarwealth.com/Advisors DISCLAIMER: This content is provided by FourStar Wealth Advisors for the general public and general information purposes only. This content is not considered to be an offer to buy or sell any securities or investments. Investing involves the risk of loss and an investor should be prepared to bear potential losses. Investment should only be made after thorough review with your investment advisor considering all factors including personal goals, needs and risk tolerance. FourStar is an SEC registered investment advisor that maintains a principal business in the state of Illinois. The firm may only transact business in states in which it has filed or qualifies for a corresponding exemption from such requirements. For information about FourStar's registration status and business operations please consult the firm's form ADV disclosure documents, the most recent versions of which are available on the SEC investment advisory public disclosure website at www.adviserinfo.sec.gov

Episode #63: Silver Linings The current economic environment is full of dark clouds, and it's all too easy to focus only on the negative headlines. Although we're in a tough place at the moment, investors should not lose hope for a better tomorrow. There is optimism for the future, and it's based on the predictive power of the stock market. Always check back for more Flourish Insights with Jay Pluimer and don't forget to check out our insights blog at https://www.flourishinsights.com Please write a review of this podcast on Apple Podcasts or Alexa EPISODE TRANSCRIPT Hi everyone, Jay Pluimer here with Flourish Insights. As the Director of Investments at Flourish Wealth Management, I take pride in providing our clients, colleagues, and friends with resources and information that can help them make strategic and effective choices regarding their investments. If you've been enjoying the show, be sure to subscribe on Apple Podcasts, Spotify, Google Podcasts, or wherever you get your podcasts, so you'll never miss an episode. Today, we're talking about Silver Linings. The current environment is full of dark clouds. The last couple episodes of Flourish Insights have discussed these economic and investment threats in detail, focusing on the War in Ukraine, fears of an impending recession, along with the tightrope walk for the Federal Reserve. It's easy to fall into the habit of doom scrolling by scanning the headlines and bouncing from one piece of bad news to another. The fact is that we're in a tough place right now with lots of things to be concerned about, but that doesn't mean investors should lose hope for a better tomorrow. Let's start by revisiting the predictive power of the Stock Market. There have been many times where the daily and weekly ups and downs of the market seem to lack connection to the current reality. A perfect example happened in April and May of 2020 when most of the global economy was shut down as the COVID Crisis became reality. Despite the real concerns about personal safety and the future of life during a pandemic, the stock market was in the middle of a rally that would turn into the fastest recovery from a bear market in history. The surprising stock market rebound was actually the topic of the first episode of Flourish Insights and was titled “Why are markets booming in the midst of a crisis?” We have experienced similar behavior from the stock market frequently over the past year where market returns didn't seem to line up with investor sentiment or economic statistics. The market dropped almost 5% in September of 2021 during a period where corporate earnings were approaching 30% growth rates, unemployment had fallen under 4%, mortgage rates were hitting historic lows, and the zero-interest rate policy was supporting record consumer spending. On the flip side, the market rebounded 9% this past month despite an escalating war in Ukraine, record gas prices at the pump, supply chain shortages, and fears of a new COVID strain. The reason that market returns don't always line up to current events is that the stock market acts as a predictor of what will take place in the future. For example, the stock market rally in the Spring of 2020 reflected expectations for increased consumer spending during the summer. The market dip last Fall reflected concerns about rising rates of inflation while the recent market rally indicates confidence that the Federal Reserve will be able to significantly reduce inflation through aggressive interest rate hikes. However, although the stock market acts as a predictor of the future it doesn't always get things right, particularly in periods of “excess exuberance” that led to market bubbles in the late 1990s and mid-2000s. So what is the silver lining about the recent market recovery? I've been having a lot of client conversations lately where they are justifiably worried about the state of the economy and the potential implications for their investments. Constant headlines about an impending recession with record inflation and daily updates about the atrocities taking place in Ukraine are excellent reasons to be worried. At the same time, the stock market is more focused on what could happen in 6 months with the conclusion of mid-term elections, decreased inflation, a resolution in Ukraine, and supply chains that are working again. We have been guardedly optimistic about the market fundamentals in the US with strong corporate earnings and profits supported by high levels of consumer spending. Although consumer confidence has been dipping lately, that is frequently a contrarian indicator, so doom and gloom often points to an investment opportunity. The optimism for an economic and market recovery in the Fall of 2022 doesn't mean it will be smooth sailing over the next few months. There are still significant concerns about how the economy will respond to rising interest rates, questions about the Federal Reserve's ability to walk a tightrope between inflation and recession, plus concerns about options for a peaceful resolution to the military situation in Ukraine. I expect to see relatively high market volatility over the next few months and will be closely monitoring the VIX Index, also known as the fear index, as an indicator of investor sentiment. In general, there are reasons to focus on the silver linings of the current environment rather than falling subject to doom scrolling negative headlines. We encourage clients and investors to look beyond the negative stories about today and look toward the future with hopes for a better tomorrow, particularly if the stock market is signaling a break in the clouds.   If you enjoyed this episode, please take a moment to rate and review us on Apple Podcasts so that more investors like you can find the show. And don't forget to check out Flourish Wealth Management's other podcast, Flourish Financially with Kathy Longo, available on all your favorite podcast providers. Thanks for listening, and don't forget to stay focused and think long-term. Send us your feedback online: https://pinecast.com/feedback/flourish-insights/44076bdb-8b02-4b1a-8219-4cedc9130fb0

Welcome to another episode of the Conversations for Financial Professionals podcast where we are shaping the next generation of financial advice.   Today we have Kathy Longo is a Certified Financial Planner® practitioner, Chartered Advisor in Philanthropy®, and a Certified Divorce Financial Analyst® and the author of Flourish Financially: Values, Transitions, & Big Conversations. She is president and founder of Flourish Wealth Management®. Kathy was named an Investopedia Top 100 Financial Advisor for 2021 and is the Host of the Flourish Financially Podcast. She serves on the board of directors for YWCA of Minneapolis to eliminate racism and empower women and girls and Moneyweave Academy to provide financial planning education for women that inspires sound decision-making, purposeful action, and philanthropy.   In our discussion we talked about:    

There's a reason so many companies create a mission statement. Doing so succinctly defines values and goals, and serves as the standard against which decisions - financial or otherwise - are measured. It's a tool you can use within your family, too, in order to make sure you are making decisions that line up with your values. In this episode, Kathy shares four steps to creating a family mission statement that helps you remain on the right track to meet your family's goals. For more information about Kathy Longo, her firm, and the great things they are doing for people like you, visit www.flourishwealthmanagement.com Don't forget to leave a review on our Alexa skill and keep Flourishing! Find out more at https://www.kathylongo.com/blog/flourish-financially-podcast.html Find out more at https://flourish-financially.pinecast.co Send us your feedback online: https://pinecast.com/feedback/flourish-financially/2fe1ecb3-a6aa-464e-9fd0-d913abe2ff88

Happy one-year anniversary to Flourish Financially Challenge! Can you believe it's been a year already? I'm so grateful to have had you join me on this journey, I hope that you've been pushed and challenged and have grown both financially and personally throughout the past year. When it comes to achieving your financial and life goals, it is critically important to find the right person to trust with your financial planning. Many people don't take the time to find a financial advisor who best suits their needs, but it is important to find one who takes the time to get to know you - and how you think about money - in order to develop a financial plan that isn't just about dollars and cents. In this episode, Kathy shares four guideposts you can use to find the best financial advisor for you. The Flourish Financially Challenge podcast will be taking a one-week break before returning on August 13th under a new name, "Flourish Financially with Kathy Longo." In this new format, we will continue to discuss strategies and opportunities to improve your financial life and incorporate it into your overall well-being. We will also be welcoming guests onto our podcast in the near future for a new dynamic. If you've enjoyed the challenges given on the Flourish Financially Challenge podcast, don't fret! You'll still be able to continue taking the challenges and accessing the worksheets and resources from each episode here. If you haven't had the chance to listen to the Flourish Financially Challenge, please visit the site or find us on Apple Podcasts, Google Podcasts, or on Alexa, by saying "Alexa, open the Flourish Financially Challenge." Find out more at https://flourish-financially.pinecast.co Send us your feedback online: https://pinecast.com/feedback/flourish-financially/41a3cac9-dc76-4083-9ad8-9df741a35706

Many people find themselves facing career transitions, either planned or unexpected. Though they can be positive or negative, it's the unexpected transitions that often cause financial hardship or anxiety. In this episode, Kathy discusses common career transitions - from going back to school to pursue a passion to losing a lucrative job - and shares how you can plan ahead to better weather whatever sort of career change comes your way. Don't forget to visit https://flourishfinanciallychallenge.com to login and track your progress. Complete fifty challenges and you will receive a free hardcover copy of Kathy Longo's book, Flourish Financially, as well as a customized Amazon Echo Dot. For more information about Kathy, her firm and the great things they are doing for people like you, visit www.flourishwealthmanagement.com Don't forget to leave a review on our Alexa skill and keep Flourishing! Find out more at https://flourish-financially.pinecast.co Find out more at https://flourish-financially.pinecast.co Send us your feedback online: https://pinecast.com/feedback/flourish-financially/cae63fcb-5968-4744-ad1e-41db37392fec

There is no rule book to follow in retirement, which means it can take many forms. Some retirees feel content sleeping in and learning a new hobby, while others feel aimless or anxious with so much newfound free time. That's why some people benefit from an encore career - also called a second act - in order to find more purpose and satisfaction during this unique phase of life. In this episode, Kathy discusses what an encore career may look like and shares how to know whether this could be the right type of retirement for you. Don't forget to visit https://flourishfinanciallychallenge.com to login and track your progress. Complete fifty challenges and you will receive a free hardcover copy of Kathy Longo's book, Flourish Financially, as well as a customized Amazon Echo Dot. For more information about Kathy, her firm and the great things they are doing for people like you, visit www.flourishwealthmanagement.com Don't forget to leave a review on our Alexa skill and keep Flourishing! Find out more at https://flourish-financially.pinecast.co

The relationship between money and our emotions is significant because the feelings we have about money and the financial decisions we make are inextricably intertwined. Fear is a particularly tricky emotion because it can hold you back from making important financial decisions - and from meeting your true potential and achieving a life where you can flourish. In this episode, Kathy shares fourteen common financial fears and provides tips to overcome them using three empowering steps. Don't forget to visit https://flourishfinanciallychallenge.com to login and track your progress. Complete fifty challenges and you will receive a free hardcover copy of Kathy Longo's book, Flourish Financially, as well as a customized Amazon Echo Dot. For more information about Kathy, her firm and the great things they are doing for people like you, visit www.flourishwealthmanagement.com Don't forget to leave a review on our Alexa skill and keep Flourishing! Find out more at https://flourish-financially.pinecast.co

Parents are usually a child's most powerful influence when it comes to money values, financial literacy, and financial decision-making. If you're already talking with your kids about personal finance basics, consider giving them investing knowledge and lessons, too. There are many ways you could impart investing information, but it's important to find a relatable way to teach kids complex topics – and one that will keep their attention, too. In this episode, Kathy shares advice from her own life as a parent and provides tips on how to give your kids financial knowledge and experiences around investing, too. Don't forget to visit https://flourishfinanciallychallenge.com to login and track your progress. Complete fifty challenges and you will receive a free hardcover copy of Kathy Longo's book, Flourish Financially, as well as a customized Amazon Echo Dot. For more information about Kathy, her firm and the great things they are doing for people like you, visit www.flourishwealthmanagement.com Don't forget to leave a review on our Alexa skill and keep Flourishing! Find out more at https://flourish-financially.pinecast.co

Nearly three-quarters of people believe it's inappropriate to discuss money matters in a social setting. However, our circle of friends has a tremendous impact on the way we manage our finances - for better or for worse. In this episode, Kathy explains four reasons that she feels friends and finances do mix, and why we should all be engaging in money conversations with the people in our closest social circles. You may just find that these conversations help you and your friends build a foundation for richer conversations in the future through shared vulnerability and authenticity. Don't forget to visit https://flourishfinanciallychallenge.com to login and track your progress. Complete fifty challenges and you will receive a free hardcover copy of Kathy Longo's book, Flourish Financially, as well as a customized Amazon Echo Dot. For more information about Kathy, her firm and the great things they are doing for people like you, visit www.flourishwealthmanagement.com Don't forget to leave a review on our Alexa skill and keep Flourishing! Find out more at https://flourish-financially.pinecast.co

Discussions about money can feel complicated and even awkward, and this includes discussing money issues with your parents as they age. However, these conversations have a meaningful purpose, and keeping the lines of communication open will be the best way to meet your parents' wishes and protect your family's finances. In this episode, Kathy shares three questions you can ask to start these critical discussions with your parents, designed to help you better understand what they may need and what they want to happen when they pass. Don't forget to visit https://flourishfinanciallychallenge.com to login and track your progress. Complete fifty challenges and you will receive a free hardcover copy of Kathy Longo's book, Flourish Financially, as well as a customized Amazon Echo Dot. For more information about Kathy, her firm and the great things they are doing for people like you, visit www.flourishwealthmanagement.com Don't forget to leave a review on our Alexa skill and keep Flourishing! Find out more at https://flourish-financially.pinecast.co

Even the strongest couples face challenges during life transitions, and retirement is one of them. For a couple to successfully enjoy their retirement together, one of the most important things they can do is to get the timing right for both of them. That's why it's so important to have a thoughtful discussion beforehand. You and your spouse should have a shared understanding of your visions for retirement, your preferred timing, and even details like how to accomplish daily housework tasks. Kathy shares guidance on how to start the conversation in this episode focused on communication for couples nearing retirement. for this week's challenge Don't forget to visit https://flourishfinanciallychallenge.com to login and track your progress. Complete fifty challenges and you will receive a free hardcover copy of Kathy Longo's book, Flourish Financially, as well as a customized Amazon Echo Dot. For more information about Kathy, her firm and the great things they are doing for people like you, visit www.flourishwealthmanagement.com Don't forget to leave a review on our Alexa skill and keep Flourishing! Find out more at https://flourish-financially.pinecast.co

The choices we make about money are closely tied to our emotions. They impact how we perceive things like success, happiness, finance, and the experiences that shape our lives. While this is a normal part of the human condition, our money stories can create barriers to meeting our goals. When you can learn to understand the emotions connected to your financial decision-making, you can separate the emotional from the rational, clarify your true goals, and make better financial decisions. Don't forget to visit https://flourishfinanciallychallenge.com to login and track your progress. Complete fifty challenges and you will receive a free hardcover copy of Kathy Longo's book, Flourish Financially, as well as a customized Amazon Echo Dot. For more information about Kathy, her firm and the great things they are doing for people like you, visit www.flourishwealthmanagement.com Don't forget to leave a review on our Alexa skill and keep Flourishing! Find out more at https://flourish-financially.pinecast.co

It's incredibly common to have multiple retirement accounts with overlapping objectives - and little time to organize them. However, if your accounts aren't organized effectively, you may not be making the most of your savings and investments. In this episode, you'll learn how to use a financial “tune-up” to create a structure and planning process that lets you easily check-in on your savings and spending goals to ensure you're on track. This can also help you plan for contingencies, allowing you to feel more empowered to meet your financial and life goals. Don't forget to visit https://flourishfinanciallychallenge.com to login and track your progress. Complete fifty challenges and you will receive a free hardcover copy of Kathy Longo's book, Flourish Financially, as well as a customized Amazon Echo Dot. For more information about Kathy, her firm and the great things they are doing for people like you, visit www.flourishwealthmanagement.com Don't forget to leave a review on our Alexa skill and keep Flourishing! Find out more at https://flourish-financially.pinecast.co

Research shows that kids learn their money habits and values from their parents, yet 69 percent of parents are reluctant to discuss money with their children. Kids are always watching, however, and parents are teaching by example - whether they realize it or not. Since parents are such powerful influencers over their children, it is critical to discuss money matters so that kids are learning from a combination of talking about money and watching their parents' actions. There are dozens of ways to start personal finance conversations with kids of all ages, and Kathy shares her best tips for helping kids develop healthy money habits in this value-packed episode. Don't forget to visit https://flourishfinanciallychallenge.com to login and track your progress. Complete fifty challenges and you will receive a free hardcover copy of Kathy Longo's book, Flourish Financially, as well as a customized Amazon Echo Dot. For more information about Kathy, her firm and the great things they are doing for people like you, visit www.flourishwealthmanagement.com Don't forget to leave a review on our Alexa skill and keep Flourishing! Find out more at https://flourish-financially.pinecast.co

Did you know that 33 percent of women and 25 percent of men find talking about money to be stressful? If you find yourself in this category, you're not alone. Equating money with stress can make it difficult to make financial decisions or to meet your goals, and it often comes down to a lack of confidence. Luckily, there are four steps you can take right now to increase your financial confidence, and Kathy shares them in this episode of the Flourish Financially Challenge podcast. Don't forget to visit https://flourishfinanciallychallenge.com to login and track your progress. Complete fifty challenges and you will receive a free hardcover copy of Kathy Longo's book, Flourish Financially, as well as a customized Amazon Echo Dot. For more information about Kathy, her firm, and the great things they are doing for people like you, visit www.flourishwealthmanagement.com Don't forget to leave a review on our Alexa skill and keep Flourishing! Find out more at https://flourish-financially.pinecast.co

Money decisions are about much more than dollars and cents - they are about your core values and how they impact your financial planning and decision-making. Unfortunately, many people experience disharmony between their values and their financial decisions. If you could benefit from more clarity about your values and what they mean for your financial and life goals, your challenge this week is to complete a “values check.” This process will allow you to uncover what is truly important to you and let it drive your decisions going forward. Don't forget to visit https://flourishfinanciallychallenge.com to login and track your progress. Complete fifty challenges and you will receive a free hardcover copy of Kathy Longo's book, Flourish Financially, as well as a customized Amazon Echo Dot. For more information about Kathy, her firm and the great things they are doing for people like you, visit www.flourishwealthmanagement.com Don't forget to leave a review on our Alexa skill and keep Flourishing! Find out more at https://flourish-financially.pinecast.co

The financial services industry remains dominated by men, and there is a lingering feeling in some circles that women take a backseat when it comes to money matters. This can lead many women to feel unheard or uncomfortable in financial conversations, even though women control 51% of personal wealth and have a greater desire than ever to take control of their financial futures. Add in the fact that the majority of women will be responsible for their own finances at some point, and it becomes crucial to remember that a man is not a plan when it comes to preparing for your financial future.for this week's challenge Don't forget to visit https://flourishfinanciallychallenge.com to login and track your progress. Complete fifty challenges and you will receive a free hardcover copy of Kathy Longo's book, Flourish Financially, as well as a customized Amazon Echo Dot. For more information about Kathy, her firm and the great things they are doing for people like you, visit www.flourishwealthmanagement.com Don't forget to leave a review on our Alexa skill and keep Flourishing! Find out more at https://flourish-financially.pinecast.co

Conversations with family regarding money, estate planning, retirement planning, elder care, and what will happen to investments when someone dies are not easy. Of course, they are also necessary for protecting your family's financial future. In this episode, Kathy explains how to approach these discussions using the “TALK Method” to conquer your money conversation anxiety and broach just one meaningful financial topic with someone you love. Don't forget to visit https://flourishfinanciallychallenge.com to login and track your progress. Complete fifty challenges and you will receive a free hardcover copy of Kathy Longo's book, Flourish Financially, as well as a customized Amazon Echo Dot. For more information about Kathy, her firm, and the great things they are doing for people like you, visit www.flourishwealthmanagement.com Don't forget to leave a review on our Alexa skill and keep Flourishing! Find out more at https://flourish-financially.pinecast.co

Retirement planning requires having a smart strategy on several fronts, including your investment plan. One way to achieve a successful and fruitful retirement is to make smart investment decisions - and more importantly, to avoid making common investment mistakes. In this episode, Kathy shares the three most common investment mistakes, and challenges you to review your investments to ensure your accounts are poised to preserve your assets and grow them for the future. Don't forget to visit https://flourishfinanciallychallenge.com to login and track your progress. Complete fifty challenges and you will receive a free hardcover copy of Kathy Longo's book, Flourish Financially, as well as a customized Amazon Echo Dot. For more information about Kathy, her firm and the great things they are doing for people like you, visit www.flourishwealthmanagement.com Don't forget to leave a review on our Alexa skill and keep Flourishing! Find out more at https://flourish-financially.pinecast.co

Your financial life won't flourish in a vacuum, so it is crucial to engage in money conversations with the people around you. This includes your spouse or partner, your children, your aging parents, and even your close friends. Although these discussions may feel awkward at times, having them is an integral step in achieving your goals and improving your financial health in important ways. This week's challenge is all about opening the door to conversations with the people who influence you the most and tackling money topics proactively, rather than waiting for a crisis. Don't forget to visit https://flourishfinanciallychallenge.com to login and track your progress. Complete fifty challenges and you will receive a free hardcover copy of Kathy Longo's book, Flourish Financially, as well as a customized Amazon Echo Dot. For more information about Kathy, her firm and the great things they are doing for people like you, visit www.flourishwealthmanagement.com Don't forget to leave a review on our Alexa skill and keep Flourishing! Find out more at https://flourish-financially.pinecast.co

If your financial plan focuses mainly on your current phase of life, plus overarching goals like maxing out on retirement contributions, you need to ask yourself if you've done enough legacy planning. If you'd like to leave something to your children, grandchildren, or your favorite charity, the time to begin planning these “legacy gifts” is right now. Your challenge this week is to think about the financial legacies you'd like to leave behind, and take steps to incorporate them into your financial plan. Don't forget to visit https://flourishfinanciallychallenge.com to login and track your progress. Complete fifty challenges and you will receive a free hardcover copy of Kathy Longo's book, Flourish Financially, as well as a customized Amazon Echo Dot. For more information about Kathy, her firm and the great things they are doing for people like you, visit www.flourishwealthmanagement.com Don't forget to leave a review on our Alexa skill and keep Flourishing! Find out more at https://flourish-financially.pinecast.co

Retirement looks different for everyone, but you're likely to be happier and healthier if you remain active and engaged in the world around you. Research shows that retirees who work part-time, volunteer, or otherwise spend their time in active or socially engaged situations have a lower likelihood of developing age-related chronic health conditions. They also show higher levels of emotional well-being. What does this mean for your retirement? Your challenge this week is to answer that question so you can stay active in the way that's right for you. Don't forget to visit https://flourishfinanciallychallenge.com to login and track your progress. Complete fifty challenges and you will receive a free hardcover copy of Kathy Longo's book, Flourish Financially, as well as a customized Amazon Echo Dot. For more information about Kathy, her firm and the great things they are doing for people like you, visit www.flourishwealthmanagement.com Don't forget to leave a review on our Alexa skill and keep Flourishing! Find out more at https://flourish-financially.pinecast.co

The transition from working full-time to retirement raises all types of emotions - including challenging ones like apprehension and sadness. When you spend much of your life identifying as a professional or a parent or both, it will take time to cope with adjusting to a new phase of life. If you're struggling, this week's challenge is to give yourself a “retirement identity makeover” by digging deep and asking yourself important questions about what is truly meaningful to you. Don't forget to visit https://flourishfinanciallychallenge.com to login and track your progress. Complete fifty challenges and you will receive a free hardcover copy of Kathy Longo's book, Flourish Financially, as well as a customized Amazon Echo Dot. For more information about Kathy, her firm, and the great things they are doing for people like you, visit www.flourishwealthmanagement.com Don't forget to leave a review on our Alexa skill and keep Flourishing! Find out more at https://flourish-financially.pinecast.co

According to the Bureau of Labor Statistics, nearly 55% of young adults will move back in with their parents for a period of time before age 27. These ‘boomerang' kids often return home while they look for work, while they save to buy their own home, or while they pursue higher education. Regardless of the reason, this scenario has financial implications for parents and it may require taking measures to protect your own financial health. Don't forget to visit https://flourishfinanciallychallenge.com to login and track your progress. Complete fifty challenges and you will receive a free hardcover copy of Kathy Longo's book, Flourish Financially, as well as a customized Amazon Echo Dot. For more information about Kathy, her firm and the great things they are doing for people like you, visit www.flourishwealthmanagement.com Don't forget to leave a review on our Alexa skill and keep Flourishing! Find out more at https://flourish-financially.pinecast.co

When your children leave home for the first time, the transition to an empty house can be challenging. It can also be very exciting! Just as with any other transition in life, you'll probably experience a range of emotions. How you manage those emotions, as well as your time, finances, and relationships, will impact your wellbeing as you adjust to an empty nest. In this episode, I share my top three tips for new empty nesters or those on the verge of this life transition. Don't forget to visit https://flourishfinanciallychallenge.com to login and track your progress. Complete fifty challenges and you will receive a free hardcover copy of Kathy Longo's book, Flourish Financially, as well as a customized Amazon Echo Dot. For more information about Kathy, her firm and the great things they are doing for people like you, visit www.flourishwealthmanagement.com Don't forget to leave a review on our Alexa skill and keep Flourishing! Find out more at https://flourish-financially.pinecast.co

In this life, financial surprises are all but inevitable. One thing we can control, though, is how we handle surprises when they come along, and preparation is key when it comes to surprises that impact your money. That's why it's so important to have an emergency fund. In this week's episode, I share tips on handling life's financial curveballs, including how to take small but meaningful steps forward if you're just getting started with your emergency fund. Don't forget to visit https://flourishfinanciallychallenge.com to login and track your progress. Complete fifty challenges and you will receive a free hardcover copy of Kathy Longo's book, Flourish Financially, as well as a customized Amazon Echo Dot. For more information about Kathy, her firm and the great things they are doing for people like you, visit www.flourishwealthmanagement.com Don't forget to leave a review on our Alexa skill and keep Flourishing! Find out more at https://flourish-financially.pinecast.co

Most Americans will have debt at some point, but this isn't necessarily a financial failure. That's because there is a distinction between “good debt” and “bad debt.” As a general rule, good debt facilitates a goal, such as buying a home. Bad debt, on the other hand, is debt that includes a high interest rate and doesn't necessarily support a life goal, such as credit card debt. This week's challenge is for those struggling with bad debt because, with discipline, it's possible to find yourself free from bad debt and financially healthier. Don't forget to visit https://flourishfinanciallychallenge.com to login and track your progress. Complete fifty challenges and you will receive a free hardcover copy of Kathy Longo's book, Flourish Financially, as well as a customized Amazon Echo Dot. For more information about Kathy, her firm and the great things they are doing for people like you, visit www.flourishwealthmanagement.com Don't forget to leave a review on our Alexa skill and keep Flourishing! Find out more at https://flourish-financially.pinecast.co

Parents often feel responsible for setting their children up for a successful future. However, in terms of priorities, your retirement savings should generally always come before saving for college. Once you have a pool of retirement dollars and a plan for sustaining your income and lifestyle during retirement, then you can begin considering what you can truly afford to contribute to a college education fund. This can feel unnerving for parents, but this week's challenge is to adopt a mindset that prioritizes your own financial future. Don't forget to visit https://flourishfinanciallychallenge.com to login and track your progress. Complete fifty challenges and you will receive a free hardcover copy of Kathy Longo's book, Flourish Financially, as well as a customized Amazon Echo Dot. For more information about Kathy, her firm and the great things they are doing for people like you, visit www.flourishwealthmanagement.com Don't forget to leave a review on our Alexa skill and keep Flourishing! Find out more at https://flourish-financially.pinecast.co

When it comes to financial planning, there is no one-size-fits-all strategy. Your situation is unique – and so are your goals – and you may find that you need more extensive planning than most people. For example, do you own a family business, have a child with a disability, or require special planning in some other way? My challenge to you this week is to make sure you are appropriately prepared, and I recommend getting expert advice to help you along the way. Don't forget to visit https://flourishfinanciallychallenge.com to login and track your progress. Complete fifty challenges and you will receive a free hardcover copy of Kathy Longo's book, Flourish Financially, as well as a customized Amazon Echo Dot. For more information about Kathy, her firm and the great things they are doing for people like you, visit www.flourishwealthmanagement.com Don't forget to leave a review on our Alexa skill and keep Flourishing! Find out more at https://flourish-financially.pinecast.co

Financial conversations are often difficult, particularly within marriages. This is especially true for those who have been married more than once, and for those with children from prior marriages. Money discussions in blended families can become quite complex, so in this episode, I share some of the key discussion points you'll want to keep in mind when it comes to raising children with input from multiple sets of parents. These conversations are far from easy, but they will be incredibly consequential for your children at various stages of life. Don't forget to visit https://flourishfinanciallychallenge.com to login and track your progress. Complete fifty challenges and you will receive a free hardcover copy of Kathy Longo's book, Flourish Financially, as well as a customized Amazon Echo Dot. For more information about Kathy, her firm, and the great things they are doing for people like you, visit www.flourishwealthmanagement.com Don't forget to leave a review on our Alexa skill and keep Flourishing! Find out more at https://flourish-financially.pinecast.co

Charitable giving is a very personal decision, and two-thirds of Americans give money to a charitable organization annually. If giving back is a money value you hold dear, you'll want to make sure you get the most “give” for your giving. This week, I'm sharing six tips to help you maximize your charitable gifts to the causes and organizations that are meaningful to you and your family. Don't forget to visit https://flourishfinanciallychallenge.com to login and track your progress. Complete fifty challenges and you will receive a free hardcover copy of Kathy Longo's book, Flourish Financially, as well as a customized Amazon Echo Dot. For more information about Kathy, her firm, and the great things they are doing for people like you, visit www.flourishwealthmanagement.com Don't forget to leave a review on our Alexa skill and keep Flourishing! Find out more at https://flourish-financially.pinecast.co

It is an unfortunate truth that money can be the catalyst for some of our most difficult struggles. This is why it is so important to minimize the negative impact that our emotions have on our financial decisions during challenging times. If you fear your financial decision-making has been compromised by sadness in the past, this week's challenge is for you. I share two steps that you can begin taking now to safeguard your financial future from unchecked emotions like sadness.for this week's challenge Don't forget to visit https://flourishfinanciallychallenge.com to login and track your progress. Complete fifty challenges and you will receive a free hardcover copy of Kathy Longo's book, Flourish Financially, as well as a customized Amazon Echo Dot. For more information about Kathy, her firm and the great things they are doing for people like you, visit www.flourishwealthmanagement.com Don't forget to leave a review on our Alexa skill and keep Flourishing! Find out more at https://flourish-financially.pinecast.co

Financial infidelity comes in various forms, but they are all characterized by keeping money secrets from your spouse or partner. This can be incredibly damaging to your relationship, and to your finances, which is why open and honest communication is key. This week, I challenge those of you with money secrets to lay your cards on the table and have an honest discussion about money with your spouse or partner so that you can move forward in a healthier direction. Don't forget to visit https://flourishfinanciallychallenge.com to login and track your progress. Complete fifty challenges and you will receive a free hardcover copy of Kathy Longo's book, Flourish Financially, as well as a customized Amazon Echo Dot. For more information about Kathy, her firm and the great things they are doing for people like you, visit www.flourishwealthmanagement.com Don't forget to leave a review on our Alexa skill and keep Flourishing! Find out more at https://flourish-financially.pinecast.co

Happy New Year! Whether it's due to a change in income or simply a decision to prioritize savings goals, we all need to tighten our budget belts sometimes. While it's not easy to change your spending habits, it begins with reminding yourself of the difference between necessary spending and those purchases that are simply nice to have. In this episode, I share a simple practice that can help you take control of your spending and gain confidence to meet your budget goals. Don't forget to visit https://flourishfinanciallychallenge.com to login and track your progress. Complete fifty challenges and you will receive a free hardcover copy of Kathy Longo's book, Flourish Financially, as well as a customized Amazon Echo Dot. For more information about Kathy, her firm and the great things they are doing for people like you, visit www.flourishwealthmanagement.com Don't forget to leave a review on our Alexa skill and keep Flourishing! Find out more at https://flourish-financially.pinecast.co

During an emotional life transition, it can be difficult to get outside of our own heads. Emotional turmoil clouds our decision-making, yet there are often many financial implications when a relationship ends, and decisions must be made. One of the most effective ways to come out financially on top after a relationship ends is to keep emotion out of these decisions. Though difficult, this ensures you will have the means to take care of yourself and prepare for the next chapter of your life. Don't forget to visit https://flourishfinanciallychallenge.com to login and track your progress. Complete fifty challenges and you will receive a free hardcover copy of Kathy Longo's book, Flourish Financially, as well as a customized Amazon Echo Dot. For more information about Kathy, her firm and the great things they are doing for people like you, visit www.flourishwealthmanagement.com Don't forget to leave a review on our Alexa skill and keep Flourishing! Find out more at https://flourish-financially.pinecast.co

While most people don't plan for divorce, it impacts roughly 50 percent of families. It changes nearly every aspect of our lives, and it is both mentally and emotionally draining. Very few things happen overnight in a divorce process, so you have time to truly consider your long-term decisions. However, there are four practicalities you should address right away in order to organize your thoughts and your finances as you prepare to end your marriage and begin a new chapter in your life. for this week's challenge Don't forget to visit https://flourishfinanciallychallenge.com to login and track your progress. Complete fifty challenges and you will receive a free hardcover copy of Kathy Longo's book, Flourish Financially, as well as a customized Amazon Echo Dot. For more information about Kathy, her firm and the great things they are doing for people like you, visit www.flourishwealthmanagement.com Don't forget to leave a review on our Alexa skill and keep Flourishing! Find out more at https://flourish-financially.pinecast.co Not only is www.flourishfinanciallychallenge.com a great place to track your progress and download useful resources, you'll also find a link to rate and review this podcast! I would so appreciate you taking a few minutes to do so, because it will help me reach more people and, hopefully, help them on their journey toward financial and personal well-being. If you're not sure how to do it, you can just head over to flourishfinanciallychallenge.com and the link that says rate us on apple podcasts will be right there on the home page. Thank you in advance! I hope you'll join me again next week! Find out more at https://flourish-financially.pinecast.co

In this episode Melissa Joy, CFP® speaks with Kathy Longo, CFP®, CAP®, CDFA®, founder of Flourish Wealth Management on the topic of understanding emotions in financial decisions. Many of the decisions we make surrounding money come from a place of emotion, so it is important to acknowledge those emotions and know your money story. You will learn:·       Are you making money decisions from a place of fear?·       What are the 4 stages of transitions?·       How to focus on what you can control when it comes to money.·       Lay out task in terms of Now, Soon, and Later.      Resources:Find out more about Kathy HERE.Listen to the Flourish Financially Podcast.Order Kathy's book Flourish Financially. Pearl Planning is not affiliated with and does not endorse, authorize, or sponsor any of the listed websites or their respective sponsors. Pearl Planning is not responsible for the content of any website or the collection or use of information regarding any website's users and/or members.

If you play or watch sports, you're likely familiar with the importance of players mastering the mechanics; that is, gaining proficiency in the fundamentals of how the game is played. It's the same with finding success in managing your household finances, where it is crucial to lay a foundation built on strong mechanics. My challenge to you this week is to ask yourself four questions. Your answers will tell you whether your financial foundation is strong, or whether you need to work on the fundamentals. Don't forget to visit https://flourishfinanciallychallenge.com to login and track your progress. Complete fifty challenges and you will receive a free hardcover copy of Kathy Longo's book, Flourish Financially, as well as a customized Amazon Echo Dot. For more information about Kathy, her firm and the great things they are doing for people like you, visit www.flourishwealthmanagement.com Don't forget to leave a review on our Alexa skill and keep Flourishing! Find out more at https://flourish-financially.pinecast.co Find out more at https://flourish-financially.pinecast.co

You and your spouse each bring your own money story, values, and financial resources and obligations to your marriage, which can create complications. One way to head-off financial turbulence in your relationship is to commit to the marriage with eyes wide open. My challenge to those of you on the cusp of this exciting life transition is to put in some proactive work before you get married – namely, learning exactly where you both stand financially. In this episode, I tell you how to get started. Don't forget to visit https://flourishfinanciallychallenge.com to login and track your progress. Complete fifty challenges and you will receive a free hardcover copy of Kathy Longo's book, Flourish Financially, as well as a customized Amazon Echo Dot. For more information about Kathy, her firm and the great things they are doing for people like you, visit www.flourishwealthmanagement.com Don't forget to leave a review on our Alexa skill and keep Flourishing! Find out more at https://flourish-financially.pinecast.co Find out more at https://flourish-financially.pinecast.co

Society encourages us to look at things in black and white but, when our finances are uncertain, this mentality can hinder our ability to see a new path forward. The Sherpas of Nepal spend their days guiding eager, daring travelers up the treacherous paths of Mount Everest. What they witness in a month is likely more terrifying than what most of us have experienced in a lifetime. And yet, they continue guiding thousands of visitors per year. I admire these Sherpas because they embrace the uncertainty that the Himalayas hold as part of their life and their livelihood. When it comes to facing financial uncertainty in our own lives, we can take a lesson from the Sherpas. Don't forget to visit https://flourishfinanciallychallenge.com to login and track your progress. Complete fifty challenges and you will receive a free hardcover copy of Kathy Longo's book, Flourish Financially, as well as a customized Amazon Echo Dot. For more information about Kathy, her firm and the great things they are doing for people like you, visit www.flourishwealthmanagement.com Don't forget to leave a review on our Alexa skill and keep Flourishing! Find out more at https://flourish-financially.pinecast.co

Have you ever experienced a major transition in your life? One that changed everything, including your finances? Times like these can be exciting, but they're also overwhelming and can take an emotional and mental toll. In the midst of transition, self-reflection helps you identify your main sources of challenge and worry. So, this week's challenge is to jump-start your self-reflection process and gain greater clarity in your goals. Don't forget to visit https://flourishfinanciallychallenge.com to login and track your progress. Complete fifty challenges and you will receive a free hardcover copy of Kathy Longo's book, Flourish Financially, as well as a customized Amazon Echo Dot. For more information about Kathy, her firm and the great things they are doing for people like you, visit www.flourishwealthmanagement.com Don't forget to leave a review on our Alexa skill and keep Flourishing! Find out more at https://flourish-financially.pinecast.co

One of the frustrating parts of financial planning is that your plan is never permanent. Unexpected financial setbacks happen to all of us, and they can be things like job loss, the death of a spouse, suffering the effects of a risky investment, a failing business or many other stressful occurrences. In these situations, it's normal to feel anger, sadness or fear, but one thing that can help us move forward is resilience – the capacity to bounce back from difficult situations. Don't forget to visit https://flourishfinanciallychallenge.com to login and track your progress. Complete fifty challenges and you will receive a free hardcover copy of Kathy Longo's book, Flourish Financially, as well as a customized Amazon Echo Dot. For more information about Kathy, her firm and the great things they are doing for people like you, visit www.flourishwealthmanagement.com Don't forget to leave a review on our Alexa skill and keep Flourishing! Find out more at https://flourish-financially.pinecast.co

Right now in the world, so many people are going through transitions, many of which were unexpected. This is difficult. It's painful. And it's easy to feel like a victim of circumstance. But when we choose to own the moment – that is, to take charge of how we act and react in the face of a difficult transition – we can use our energy to accept what is, while also planning for what will come next. Don't forget to visit https://flourishfinanciallychallenge.com to login and track your progress. Complete fifty challenges and you will receive a free hardcover copy of Kathy Longo's book, Flourish Financially, as well as a customized Amazon Echo Dot. For more information about Kathy, her firm, and the great things they are doing for people like you, visit www.flourishwealthmanagement.com Don't forget to leave a review on our Alexa skill and keep Flourishing! Find out more at https://flourish-financially.pinecast.co

Episode 13: Taking Small Steps Mindset is often the biggest obstacle we need to overcome in order to create a financial plan that will help us meet our goals. In particular, the belief that our goals are simply too big to achieve holds us back from making progress. But, I want to let you in on a little secret: big goals don't require big steps. They can be reached with a series of small, steady steps over time, and this week's episode will help you get started. Don't forget to visit https://flourishfinanciallychallenge.com to login and track your progress. Complete fifty challenges and you will receive a free hardcover copy of Kathy Longo's book, Flourish Financially, as well as a customized Amazon Echo Dot. For more information about Kathy, her firm, and the great things they are doing for people like you, visit www.flourishwealthmanagement.com Don't forget to leave a review on our Alexa skill and keep Flourishing! Find out more at https://flourish-financially.pinecast.co

Episode #12: Cash Flow Focus It can be difficult to get excited about your finances, particularly if you feel burdened by debt, lack the income you desire, or feel your financial goals are unattainable. If you're feeling stuck and less-than-excited about your current financial outlook, you can break your cash flow down into smaller components that let you take more control of your finances - and help you get excited about achieving your goals. Don't forget to visit https://flourishfinanciallychallenge.com to login and track your progress. Complete fifty challenges and you will receive a free hardcover copy of Kathy Longo's book, Flourish Financially, as well as a customized Amazon Echo Dot. For more information about Kathy, her firm and the great things they are doing for people like you, visit www.flourishwealthmanagement.com Don't forget to leave a review on our Alexa skill and keep Flourishing! Find out more at https://flourish-financially.pinecast.co

Do you find money topics to be confusing? Do you lack confidence in your ability to understand financial concepts? If so, you may be suffering from numerophobia - and you're not alone. This inevitably leads to a reactive approach to money management, but taking a proactive interest in your money is the best way to meet your goals and create a meaningful life for yourself and your family. So, if a fear of numbers is getting in the way of your financial success, my challenge to you this week is to stop making it about the numbers. Don't forget to visit https://flourishfinanciallychallenge.com to login and track your progress. Complete fifty challenges and you will receive a free hardcover copy of Kathy Longo's book, Flourish Financially, as well as a customized Amazon Echo Dot. For more information about Kathy, her firm and the great things they are doing for people like you, visit www.flourishwealthmanagement.com Don't forget to leave a review on our Alexa skill and keep Flourishing! Find out more at https://flourish-financially.pinecast.co

Your credit score takes into account your amount owed, credit, length of credit history, credit mix, and payment history. It can make or break your ability to accomplish financial and life goals like buying a home and, once damaged, it may take considerable time to repair. Everyone should know their credit score, but many people avoid it because they fear bad news. But, knowledge is power. That's why this week's challenge is to look up your credit score and face it head-on. Don't forget to visit https://flourishfinanciallychallenge.com to login and track your progress. Complete fifty challenges and you will receive a free hardcover copy of Kathy Longo's book, Flourish Financially, as well as a customized Amazon Echo Dot. For more information about Kathy, her firm, and the great things they are doing for people like you, visit www.flourishwealthmanagement.com Don't forget to leave a review on our Alexa skill and keep Flourishing! Find out more at https://flourish-financially.pinecast.co

For this week's challenge, I'm going to encourage you to wade through something that many people avoid, but which is helpful if you really want to take charge of your money – financial jargon. Learning to “speak finance” is a lot like learning a foreign language. Yes, many financial terms are confusing, but with a little time and patience the terminology becomes approachable - and you can develop a more confident money mindset. Don't forget to visit https://flourishfinanciallychallenge.com to login and track your progress. Complete fifty challenges and you will receive a free hardcover copy of Kathy Longo's book, Flourish Financially, as well as a customized Amazon Echo Dot. For more information about Kathy, her firm, and the great things they are doing for people like you, visit www.flourishwealthmanagement.com Don't forget to leave a review on our Alexa skill and keep Flourishing! Find out more at https://flourish-financially.pinecast.co

for this week's challenge, I want you to think back to the last time you received a pay increase. Did you immediately rework your monthly budget to allocate more of your income to savings? Or, like many people tend to do, did you use your increased income to do something like lease a nicer car or purchase a larger home? If your answer is the latter – increased spending – you may be a victim of Lifestyle Creep. Don't forget to visit https://flourishfinanciallychallenge.com to login and track your progress. Complete fifty challenges and you will receive a free hardcover copy of Kathy Longo's book, Flourish Financially, as well as a customized Amazon Echo Dot. For more information about Kathy, her firm, and the great things they are doing for people like you, visit www.flourishwealthmanagement.com Don't forget to leave a review on our Alexa skill and keep Flourishing! Find out more at https://flourish-financially.pinecast.co

For this week's challenge, I am talking about building a financial safety net. The world can become an uncertain place in a short time. This economic volatility can lead to fear and anxiety. Having a financial safety net for an unexpected loss of income can provide you with peace of mind and freedom should the worst-case scenario arise. Listen in to think about how you can create an emergency fund that fits your needs and budget and help you to protect yourself during times of economic uncertainty. Don't forget to visit https://flourishfinanciallychallenge.com to login and track your progress. Complete fifty challenges and you will receive a free hardcover copy of Kathy Longo's book, Flourish Financially, as well as a customized Amazon Echo Dot. For more information about Kathy, her firm, and the great things they are doing for people like you, visit www.flourishwealthmanagement.com Don't forget to leave a review on our Alexa skill and keep Flourishing!

For this week's challenge, I'm going to talk about Money Roles and Rules. Remember that you can visit www.flourishfinanciallychallenge.com to find archives of my podcast and free downloads of all of the resources I discuss on this show. In recent weeks, we've been discussing the importance of having honest financial conversations with your spouse or partner, and this topic is related. Most households have a few unwritten money roles and rules. Your challenge this week is to put down on paper – or electronically on your computer or smartphone – the roles each member of your household plays with regard to managing money, as well as the unwritten financial rules you typically follow. Don't forget to visit https://flourishfinanciallychallenge.com to login and track your progress. Complete fifty challenges and you will receive a free hardcover copy of Kathy Longo's book, Flourish Financially, as well as a customized Amazon Echo Dot. For more information about Kathy, her firm and the great things they are doing for people like you, visit www.flourishwealthmanagement.com Don't forget to leave a review on our Alexa skill and keep Flourishing! Find out more at https://flourish-financially.pinecast.co

For this week's challenge, I encourage you and your spouse to get down to brass tacks about your shared financial reality. Whether you're on the sharing or receiving end of a financial secret, try to remain calm and work to have a constructive conversation so that you can move forward together. If you're ready to go all-in on your financial reality conversation, head to https://www.flourishfinanciallychallenge.com and download a free checklist of key financial documents to review and discuss with your spouse. Complete fifty challenges and you will receive a free hardcover copy of Kathy Longo's book, Flourish Financially, as well as a customized Amazon Echo Dot. For more information about Kathy, her firm, and the great things they are doing for people like you, visit https://www.flourishwealthmanagement.com Don't forget to leave a review on our Alexa skill and keep Flourishing! Find out more at https://flourish-financially.pinecast.com Find out more at https://flourish-financially.pinecast.co

for this week's challenge, I am going to talk about your spouse and money. To download your Seven Questions to Ask Your Spouse or Partners worksheet, login to the flourish financially challenge. Don't forget to visit https://flourishfinanciallychallenge.com to login and track your progress. Complete fifty challenges and you will receive a free hardcover copy of Kathy Longo's book, Flourish Financially, as well as a customized Amazon Echo Dot. For more information about Kathy, her firm and the great things they are doing for people like you, visit www.flourishwealthmanagement.com Don't forget to leave a review on our Alexa skill and keep Flourishing! Find out more at https://flourish-financially.pinecast.co Find out more at https://flourish-financially.pinecast.co

Episode 3: The Numbers Game for this week's challenge, think about a number you've been fixated on. It could be the number of clients you'd like to have at your business, the age at which you hope to retire, or even the desirable zip code you hope to live in. After you identify your number, ask yourself WHY. Why is this number important? What will it mean for your business, your life, or your family circumstances if you achieve it? Don't forget to visit https://flourishfinanciallychallenge.com to login and track your progress. Complete fifty challenges and you will receive a free hardcover copy of Kathy Longo's book, Flourish Financially, as well as a customized Amazon Echo Dot. For more information about Kathy, her firm and the great things they are doing for people like you, visit www.flourishwealthmanagement.com Don't forget to leave a review on our Alexa skill and keep Flourishing! Find out more at https://flourish-financially.pinecast.co

Episode 2: Your Money Story This week, host and Flourish Wealth Management owner, Kathy Longo reflects on her earliest money memory. Her challenge for you this week is to think back to your earliest money memory and how it impacted your life. Don't forget to write us a review on your favorite podcast provider as well as on your Amazon Alexa app. To get in touch with Kathy, learn more about her firm, Flourish Wealth Management, or download resources from the Flourish Financially Challenge, register at www.flourishfinanciallychallenge.com. You can keep track of your challenges and accomplishments plus get free resources and discounts on Kathy's book. You can even get a free Amazon Echo Dot when you complete 50 challenges. Find out more at https://flourish-financially.pinecast.co

Amidst the chaos and fear of the Coronavirus pandemic is the reality that many of us are struggling with financial strains. Perhaps job loss, instability, stock market shifts, etc. If you're worried about money, this episode is coming at the perfect time. Shannon Foreman, hilarious CEO and founder of Forethought Planning talks through simple things we can be doing right now to create some financial stability. She also shares her tips on creating a healthy relationship with money in partnership and marriage. Shannon founded Forethought Planning a wealth management, financial planning, and coaching firm with the dream to radically change how people consume their financial education and feel financially empowered! Shannon strongly believes that money is personal and the physical, mental, relational and financial aspects of your life need to work in harmony.The book mentioned in this episode is Flourish Financially by Kathy Longo. Learn more:Follow Shannon on Facebook @forethoughtplanningLearn more about Forethought Planning: www.forethoughtplanning.comFollow Wedded Wellness on Instagram: @wedded.wellnessLearn more about Wedded Wellness at www.weddedwellness.com. 

On this show, we talked about how values fit into our financial success, how to determine yours, and the challenges and opportunities associated with life’s transitions with Kathy Longo, CFP, CAP, CDFA, and Founder and President at Flourish Wealth Management.  Listen to learn how to have difficult conversations about money with the important people in your life! For the Difference Making Tip, scan ahead to 16:02! You can learn more about Kathy at KathyLongo.com, FlourishWealthManagement.com, Facebook, Twitter and LinkedIn. Interested in starting your own podcast?  Click HERE George is honored to be included on Investopedia's list of the Top 100 Financial Advisors for 2019! You can learn more about the show at GeorgeGrombacher.com, Twitter, LinkedIn, Instagram and Facebook or contact George at Contact@GeorgeGrombacher.com.

Certified Financial Planner, Kathy Longo joins us today to talk about money and relationships and how having those big conversations about money management with your spouse will lead you to good financial decisions.Kathy is also a chartered advisor in philanthropy and a certified divorce financial analyst. With over 25 years of wealth management experience she is the founder and president of Flourish Wealth Management.Before launching Flourish in 2014, Kathy worked as a wealth manager, financial planner and firm manager in companies of varying sizes in both Chicago and Minneapolis.Listen in as Kathy removes the taboo behind money and shows us why finances need to become a normal conversation in your household.We dive deep into:The emotions attached to moneyThe definition of certified divorce financial analystTalking freely about money and using every day experiences to educate your childrenKathy also advises Scott, who is a spender, on how to start a productive conversation with his wife, who is the saver, so that they can build wealth together.Listen in now to learn more on how to manage wealth and Flourish Financially, on today's episode of The Art of Passive Income!TIP OF THE WEEKMark: Learn more about becoming wealthy by getting your emotions in check about money at FlourishWealthManagement.com. And, be sure to check out Kathy's book, Flourish Financially: Values, Transitions, & Big Conversation.Scott: Check out Privacy.com to create private secure credit cards that are linked to your checking account.Kathy: Visit KathyLongo.com and take the Financial Readiness Test. It's an assessment that will score where you're at in terms of your financial readiness for success.Isn't it time to create passive income so you can work where you want, when you want and with whomever you want?

If you're a listener of the show, I’m going to assume you are either:  Not creating content, want to start, and unsure where to begin Currently creating content and want to improve and reach more people If that sounds like you, you're in for a real treat today.  I have four really special guests who have found massive success (both personally and financially) each on a different media platform. Joining me on the show today I have Jeff Rose, Roger Whitney, Kathy Longo, and Justin Castelli sharing: Their favorite content platform and why they think it's best How they are using that platform to build and educate their audience Their advice for financial advisors who aren’t sure they are on the right platform, want to take their content game to the next level, or don’t know even know where to begin For all the resources, links, and show notes for this episode, go to www.taylorschulte.com/4.    

In this conversation, Kathy Longo and Michele Lenz each bring an incredibly unique perspective to #YAFPNW listeners. This is a fantastic episode for anyone interested in building a career path, who wants to scale a firm,

In this conversation, Kathy Longo and Michele Lenz each bring an incredibly unique perspective to #YAFPNW listeners. This is a fantastic episode for anyone interested in building a career path, who wants to scale a firm, or who is interested in growing their career as a planner into a future firm partner.

On our second episode of Women's month, your host Matt Halloran welcomes Kathy Longo, CFP®, CAP®, CDFA to discuss her newest book Flourish Financially: Values, Transitions, and Big Conversations. Kathy brings 25 years of experience and her extensive knowledge and wisdom working as a wealth manager, financial planner, firm manager, and business owner to her writing and this podcast! Kathy's new book, Flourish Financially: Values, Transitions, and Big Conversations, explores how the concept of money is a lot more than the dollars and cents we earn, save and spend. Get to the know the author and learn more about this incredible book, what it takes to become an author, and a few marketing tips to make your next book an incredible success! Links: Kathy Longo LinkedIn | Flourish Financially |

According to a recent report from CNN Money, 56% of married women leave investment and long-term financial planning to their husbands, and 85% of women who defer to their husbands feel that their spouses are more educated on financial matters.  As a result, many women are shocked to learn the true financial picture when major life events like death of a spouse, divorce, or job loss happen.  This episode of Life in HD features a conversation with Kathy Longo, author of Flourish Financially: Values, Transitions, and Big Conversations.  She is also President and founder of Flourish Wealth Management.  She offers advice on how women can and should get more involved in managing their personal finances.  Music featured in this episode is Love Me Forever by Audiobinger under creative commons license.

Segment 1: Kathy Longo is the author of Flourish Financially: Values, Transitions, & Big Conversations, and president and founder of Flourish Wealth Management®. She has over 25 years of experience as a wealth manager and financial planner. She was named one of the Top 50 Women in Wealth Management by Wealth Manager Magazine. She has been quoted in The Wall Street Journal, New York Times and Money Magazine.Segment 2: Becky McCray is a small town business owner. She and her husband, Joe, own a retail liquor store in Alva, Oklahoma. She shares insights from this real world experience at her highly ranked website https://smallbizsurvival.com and in her award winning book Small Town Rules. Her practical perspectives have been featured in three books and dozens of magazines, blogs, and podcasts. She makes her home in Hopeton, Oklahoma, a community of 30 people.Segment 3: Colby Williams founded Parengo Coffee in Sikeston, Missouri with his parents in 2013. Parengo was the Sikeston Chamber of Commerce's Small Business of the year this year. It also won a Regional Entrepreneurship Award from the Missouri Innovation Corporation in 2016 and a Golden Bean Award for coffee roasting in 2015. Colby is the author of the new book Small Town Big Money.Sponsored by Nextiva, Square Payroll, and LinkedIn

Kathy Longo is the president and founder of Flourish Wealth Management, an advisory firm in the Minneapolis area that oversees nearly $130 million of AUM for 61 affluent clients. Surprisingly, Kathy chose to start this firm after successfully climbing the partnership track ladder to become one of the next generation successor owners of an independent RIA worth over $1 billion. In this episode, Kathy shares what led to her choosing to leave a successful firm to pursue her own entrepreneurial goals, as well as the challenges she faced in doing so. Listen in to hear how she has grown her business, why it’s so important to find study groups of peers and colleagues, and the crucial philosophy she says all small business owners should embrace. For show notes and more visit: https://www.kitces.com/75 

Kathy Longo brings over 25 years of expertise and experience to Flourish Wealth Management. After earning a degree in Financial Planning and Counseling from Purdue University, she began her career at a small firm in Palatine, Illinois where she worked directly with clients while learning to build a viable, client-centric business. She has been quoted as a trusted expert in multiple national and local publications including The Wall Street Journal, New York Times, and Money Magazine amongst others. At the firm level, Flourish Wealth Management was recently recognized by AdvisoryHQ as a top-rated financial advisor in Minnesota for the 3rd year in a row.. Throughout her career, Kathy maintained a desire to start a company of her own, focused on delivering her expertise to a dedicated group of clients. Flourish Wealth Management embodies the fruition of that dream and builds off a strong foundation of insight and experience. Kathy is wholly dedicated to improving the life of each client and finds joy in making complex matters simple and easy to understand. She excels at asking the right questions, uncovering new possibilities and implementing the most advantageous strategies for success. Playing such a pivotal role in her clients’ lives remains an honor and a privilege. Her first book is expected to launch in June 2018 and is titled Flourishing Financial: Values, Transitions, and Big Conversations.  

Today we have Kathy Longo, she is a CFP, CAP, CDFA and author of Flourish Financially – Values, Transitions and Big Conversations. Kathy is an expert in advising women about money challenges and believes too many women rely on their husbands for their financial planning. Welcome! [:] Den and I were discussing prenups last night as we’re getting married in July. We talked about how they are good for each others financial security in the off chance a relationship doesn’t work out. What are your views on a prenup and would you say there is any advice you have for people before they get married? Disclosure of financial assets are disclosed early on. Debt disclosed as well, it’s important to discuss finances before you get married. If someone comes into inheritance, the prenup takes care of those assets. People don’t always think very protectively when they receive the money [:] What’s the fundamental first step for women toward building financial confidence? Becoming in tune to their finances, understanding spending, income source and building an emergency fund Knowing your credit score Understanding your own finances Money still defer the financial decisions to their husbands [:] Is it wise for a married woman wanting to build her financial strength to have separate accounts, or does that often cause marital friction? It’s definitely something you want to consider but there is no right or wrong answer Have honesty with each other  [:] Most women outlive their husbands so at some point if you’re a woman you are going to need to manage your money. In what financial area are many women least prepared when they find themselves alone? Sudden events are the most inopportune time to learn how to manage money The best thing to do is be involved in the finances [:] Tell us a bit about your book Flourish Financially – Values, Transitions and Big Conversations Just came out in September Helps you have good financial conversations with people [:] Value Link Round [:] What is your saving or retirement plan? Been in the business for 25 years, saving is super important Started 401(k) in the first year of her business which started 5 years ago Building her business for her retirement [:] Do you have any other books or podcasts you can recommend? Flourish Financially – Values, Transitions and Big Conversations Traction Secrets of wealth women [:] Parting piece of advice? Start having money conversations and take responsibility        Support this podcast at — https://redcircle.com/chain-of-wealth-debt-investing-entrepreneurship-wealth-and-more/donationsWant to advertise on this podcast? Go to https://redcircle.com/brands and sign up.