Podcasts about registered investment advisor

  What Does This Week’s Market Volatility Mean for Your Retirement Portfolio? By Tom Dupree, Founder, Dupree Financial Group Inflation cooled. The big banks beat expectations. And somehow, it was still a wild week in the market. If you’ve been watching your account balance bounce around and wondering whether any of it has anything to do with the actual value of what you own, here’s the short answer: usually not. Most of what moved the market this week wasn’t new information about businesses — it was leverage, technical trading, and forced selling. That distinction matters more for your retirement than almost anything else you’ll read this month, because it tells you when to act and when to simply hold on. This week’s episode of The Tom Dupree Show walked through four separate stories — cooling inflation, strong bank earnings, a leveraged-ETF blowup on the other side of the world, and a regulatory fight over how often companies should report earnings — that all point to the same lesson: know what you own, know why the price is moving, and don’t confuse someone else’s forced selling with your own emergency. Key Takeaways Inflation cooled to 3.5% year-over-year in June, but the Fed’s new chair has questioned whether the 2% target is even the right one — the ground rules for bonds and rate-sensitive investments could shift. Bank profits this quarter came mostly from paying less on deposits, not from a borrowing boom — a reminder that cash flow, not headlines, tells the real story. A leveraged single-stock ETF collapse in South Korea forced hundreds of thousands of retail accounts into liquidation — a case study in what daily-compounding leverage does to a portfolio. Semiconductor stocks have swung hard on technical signals, not fundamentals — which can create real opportunity for patient, long-term owners. A federal proposal to let companies report earnings twice a year instead of four times has reignited a real debate about transparency versus short-termism. Why Does the Market Feel So Unpredictable Right Now? If you’re 55, 65, or 75 and watching a retirement account that’s supposed to fund the next 30 or 40 years of your life, a week like this one is unsettling. The headlines contradict each other: inflation is cooling, but chip stocks are getting hammered one day and ripping higher the next. Banks are thriving, but somewhere on the other side of the world, hundreds of thousands of retail investors just lost their entire trading accounts overnight. It’s a lot to hold at once, and it’s reasonable to wonder whether any of it should change what you do with your own money. Here’s the honest answer: for most retirees holding a diversified, income-producing portfolio, almost none of it should. But understanding why requires pulling apart what actually happened this week — and separating the noise from the signal. What Actually Happened This Week — The Data Start with the good news. The Bureau of Labor Statistics reported that headline inflation cooled to 3.5% year-over-year in June, with core inflation (which strips out food and energy) coming in at 2.6% — both below what economists expected, and producer prices actually declined for the month. That’s a meaningfully better inflation picture than markets were braced for. But the Fed’s target isn’t necessarily fixed anymore. Kevin Warsh, who was sworn in as Federal Reserve chairman this spring, has openly questioned the assumptions behind the central bank’s longstanding 2% inflation goal and launched a broader review of how the Fed operates. For retirees who own bonds or rate-sensitive income investments, that’s not a footnote — it’s a reason to pay attention to what “the target” even means over the next few years, rather than assuming the old rules still apply. Meanwhile, bank earnings came in strong — but not for the reason most people assume. The lift came primarily from banks paying less to fund themselves (short-term deposit rates have fallen faster than the loans on their books have repriced), not from a fresh wave of borrowing. It’s a good environment for financial stocks, but it’s a funding-cost story more than a booming-economy story, and that distinction matters if you’re trying to judge whether the rally has legs. Then there’s the semiconductor sector, which has been the market’s most volatile corner. Taiwan Semiconductor, the company that manufactures the vast majority of the world’s advanced AI chips, reported June revenue up nearly 68% year-over-year, a genuinely extraordinary number driven by AI infrastructure demand. And yet chip stocks broadly have been whipping up and down for reasons that have very little to do with numbers like that one. A lot of that action is technical: when a stock breaks below a widely watched moving average, institutional trading algorithms are programmed to sell, regardless of what the underlying business is doing. That selling then triggers more selling. It looks like panic. It’s often just mechanics. The starkest illustration of what leverage does in a downturn came out of South Korea this month, where a wave of new single-stock leveraged ETFs tied to semiconductor giants Samsung and SK Hynix triggered margin calls on more than 1.2 million retail trading accounts, with roughly 320,000 to 360,000 of those accounts fully liquidated in a matter of days. These products were designed to move twice the daily price swing of a single stock — which sounds appealing on the way up and is devastating on the way down, because the losses compound daily rather than tracking the stock’s actual return over time. It’s an ocean away from Lexington, Kentucky, but the lesson travels: leverage doesn’t just add risk, it changes the math entirely. Finally, there’s a quieter but genuinely important story developing in Washington. The SEC has proposed letting public companies choose to report earnings twice a year instead of four times, a change championed by President Trump and SEC Chairman Paul Atkins as a way to reduce short-term pressure on management teams. The idea splits reasonable people: less frequent reporting could free executives to run their businesses for the next several years instead of the next ninety days, but it could also mean investors — including retirees who depend on knowing exactly what they own — get less information, less often. This week’s news cycle also included a primetime presidential address in which Trump alleged that newly declassified intelligence showed foreign interference — including from China — in the 2020 election, along with claims of voter registration fraud in Michigan. Election security officials, including the Cybersecurity and Infrastructure Security Agency, have said they’ve found no evidence that any votes were altered in past elections. Whatever your read on the speech, it fed into a broader theme running through the whole hour: how much can you trust the numbers an institution hands you, whether that’s a vote count or a government inflation report? It’s why we do our own research instead of relying solely on government statistics or Wall Street’s sell-side analysts, and it’s the same instinct that should guide how you evaluate any claim, official or otherwise. The Reframe: Manufactured Volatility vs. Real Risk Here’s the framework we come back to on nearly every episode of the show, and it’s the one thing we want you to take from this week’s news: there is a real difference between manufactured volatility and real risk, and confusing the two is one of the most expensive mistakes a retiree can make. Manufactured volatility is what happens when a stock’s price swings because of leverage unwinding, algorithmic trading around technical levels, or funds racing to exit ahead of a quarterly number — not because the underlying business got worse. The Korean ETF collapse is manufactured volatility in its purest form: a Samsung or SK Hynix shareholder holding actual shares, with no leverage, watched the same news and the same earnings power, just without the forced-selling spiral. Real risk is different. Real risk is a company losing its competitive position, cutting its dividend, or piling on debt it can’t service. Real risk should change what you own. Manufactured volatility, more often than not, should not. The trouble is that from the outside, both look identical on a stock chart. A share price falling 10% doesn’t come labeled “manufactured” or “real.” Telling the difference requires actually knowing the business you own — its cash flow, its dividend history, its balance sheet — well enough to judge whether this week’s headline changed anything about that story. That’s the diligence part of the job, and there’s no shortcut around it. How Should Retirement Investors Respond to This Kind of Volatility? At Dupree Financial Group, this is exactly why our approach centers on dividend-paying stocks and bonds rather than chasing whatever sector is moving fastest. When you own a company for the income it generates — not for a price target — a week of manufactured volatility becomes far less threatening, and sometimes it becomes an opportunity. When institutions are forced to sell a good company for reasons that have nothing to do with its fundamentals, the price drop that scares one investor is simply a better entry point for another. That’s not a guarantee of a favorable outcome — all investing involves risk, including the possible loss of principal — but it’s a fundamentally different posture than reacting to every headline. Seven Steps to Retirement-Proof Your Portfolio Against Manufactured Volatility Know what you own, line by line. Pull up your statement and be able to explain, in one sentence each, why you own every major holding. If you can’t, that’s the first thing to fix — not the market. Separate the headline from the business. Before reacting to a price move, ask whether anything actually changed about the company’s earnings, dividend, or balance sheet — or whether it’s a technical or leverage-driven move like the ones described above. Keep leveraged and single-stock ETFs out of retirement money entirely. These products are built for daily traders, not long-term holders. The Korean ETF collapse is a real-world example of what daily compounding leverage can do to an account in a matter of days. Read past the quarterly headline number. Whether or not the reporting-frequency rules change, judge a company on multi-year cash flow and dividend trends, not a single quarter’s beat or miss. Keep a watchlist of quality companies for when panic creates a discount. When forced selling knocks a good business down for reasons unrelated to its fundamentals, that’s the moment long-term investors get paid for their patience. Revisit your income plan, not just your account balance. A retirement portfolio’s job is to produce cash flow you can live on for 30 to 40 years. Judge a volatile week by whether your income stream held up — not by the number on the login screen. Get a second set of eyes on your portfolio. If you’re not sure whether what you own is built to withstand this kind of volatility, or whether you’re carrying more leverage or concentration risk than you realize, that’s exactly what a portfolio review is for. Frequently Asked Questions Is a leveraged ETF a good way to boost my retirement returns? No. Leveraged ETFs reset and compound daily, so their long-term return can diverge sharply from the underlying stock’s actual performance — including large losses even when the stock has technically risen over time. They’re built for short-term traders, not retirement accounts. Does cooling inflation mean the Fed will cut interest rates soon? Not necessarily. While June’s cooler CPI reading supports the case for rate cuts, the Fed’s new chairman has signaled openness to rethinking the central bank’s approach to its inflation target, adding real uncertainty to the timeline for any rate decisions. Why do stock prices swing so much when a company’s earnings didn’t change? Much of the day-to-day movement in popular stocks comes from technical trading, algorithmic strategies tied to chart levels, and leveraged funds being forced to buy or sell — not from new information about the business itself. That’s manufactured volatility, not real risk. What does the debate over quarterly earnings reports mean for individual investors? If the SEC’s proposal is adopted, some companies may report financial results only twice a year instead of four times. That could reduce short-term pressure on management, but it may also mean investors get less frequent, less detailed information about what they actually own. How do I know if my retirement portfolio is built to handle volatility? Start by confirming you can explain why you own every major holding and that none of your retirement money sits in leveraged or single-stock products. A complimentary portfolio review with a fee-only fiduciary advisor is the fastest way to get an honest, unbiased answer. The Bottom Line Weeks like this one will keep happening. Leverage will keep building up somewhere and unwinding somewhere else. Traders will keep reacting to chart levels instead of cash flow. What won’t change is the difference between a business that’s actually worth less than it was last week and a stock price that simply got caught in someone else’s forced selling. Learn to tell those two things apart, build your income around companies you understand, and a volatile week stops being a threat to your retirement — it starts being background noise, or even opportunity. Schedule a Complimentary Portfolio Review If you’re not sure whether your portfolio is built to take advantage of volatility like we saw this week — instead of getting knocked around by it — we’ll take a look. No charge. No pressure. Just an honest conversation about what you own and whether it’s working for you. Call: 859-233-0400  |  Visit: dupreefinancial.com You Might Also Like Catch up on past episodes of The Tom Dupree Show — our full podcast archive, updated every week. Meet the team at Dupree Financial Group — learn about our fee-only, fiduciary approach and the people behind it. [PLACEHOLDER — link to a prior show notes/blog post on dividend investing fundamentals once a confirmed URL is available] About the Author: Tom Dupree is the founder of Dupree Financial Group and host of The Tom Dupree Show, heard weekly across Central Kentucky radio and podcast. With 47 years in the investment business, starting in municipal bonds in 1978, Tom built DFG’s investment philosophy around one idea: retirement money should generate income you can see, not just a balance you hope holds up. Dupree Financial Group is an independent, fee-only fiduciary Registered Investment Advisor based in Lexington, Kentucky. REGULATORY DISCLAIMER: This material is for informational and educational purposes only and does not constitute investment, legal, or tax advice, nor is it a solicitation to buy or sell any security. All investing involves risk, including the possible loss of principal. Past performance of any market index or security is not indicative of future results. Dupree Financial Group is a fee-only fiduciary and does not receive commissions on any products or securities discussed. 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Success doesn't always bring the peace of mind we expect. For many business owners and high achievers, greater financial success can also bring greater uncertainty. New opportunities, bigger decisions, and increased complexity often leave people asking, "What should I do next?" In this episode of Building Wealthy Habits, Jeremiah and Laura explore why success can feel more stressful than expected, how to move beyond fear and uncertainty, and why a clear vision is essential for navigating your next season with confidence. Financial success changes more than your balance sheet. It changes the questions you're asking, and the opportunities in front of you. #businessowners #financialplanning #growthmindset #entrepreneurship #financialconfidence #wealthmanagement ---    Information and ideas discussed are general comments and cannot be relied upon as pertaining to your specific situation, do not constitute legal/financial advice, and do not create an attorney-client or fiduciary relationship. Examples discussed are fictional. You should consult your own advisor/attorney and do your own diligence prior to making any decisions. Investments involve risk and the possibility of loss, including the loss of principal. All situations are different, and results may vary. Randy Barkley is a life insurance agent CA license # 0518567 and Jeremiah Lee is a California licensed attorney and is responsible for this communication. Advisory services offered through TriCord Advisors, Inc., a Registered Investment Advisory firm.

Richard and Brian are back for this week's episode of Macro Aggressions. This episode breaks down the "Russian doll" problem sitting inside mega-cap tech earnings, why portfolio diversification may matter more now than it has in fifteen years, and what's happening beneath the surface of an S&P 500 that keeps hitting new highs.  Richard Taylor of Plan First Wealth and Brian Dunhill of Dunhill Financial unpack Burry's concerns around private company valuations (SpaceX, Anthropic, OpenAI) sitting inside public company earnings, changes to GPU depreciation accounting that are quietly inflating profits, and why small cap stocks, emerging markets, and international stocks are starting to outperform after over a decade of US large-cap dominance. This is practical stock market advice for anyone wondering if their portfolio is over-concentrated in seven companies and whether now is the moment to start rebalancing.  They also cover the diverging picture between the stock market and the real economy: sticky 4.2% inflation, weakening wage growth, and job losses under the current administration, set against a market still riding high on AI enthusiasm and a growing conversation around a potential market bubble.  The conversation turns geopolitical, covering Europe's active effort to decouple from American tech infrastructure, why universities across Europe are pushing to get off US servers, and what that could mean long term for US-Europe relations and international wealth strategies. Richard and Brian also dig into the UK's ongoing political instability, the lasting economic impact of Brexit, and whether a new Labour leadership shift could change the UK's trajectory.  Whether you're watching the Magnificent Seven dominate your portfolio, thinking about how UK politics and Brexit affect cross-border wealth, or just want a grounded read on where markets stand versus the economy, this episode covers the full picture, not just the headlines.  --  Expat Wealth is supported by Plan First Wealth. Plan First Wealth is a Registered Investment Advisor serving fellow expatriates and immigrants living across the US on matters such as retirement planning, investment management, tax planning and non-US asset management.  https://planfirstwealth.com/  -- Expat Wealth is affiliated with Plan First Wealth LLC, an SEC registered investment advisor. The views and opinions expressed in this program are those of the speakers and do not necessarily reflect the views or positions of Plan First Wealth.    Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Plan First Wealth does not provide any tax and/or legal advice and strongly recommends that listeners seek their own advice in these areas.   

We are half way through 2026! It is a great opportunity to look back on the last six months and review.  In this episode of The Market Moment, Lee, Isaac, and John take a data-driven look at the major economic forces shaping your wealth. They break down the massive multi-billion-dollar economic impact of hosting the World Cup, review the surprisingly strong first-half performance of major indexes (NASDAQ, S&P 500, and Dow) despite persistent inflation, and explain why healthy stock market rotations like those seen in Nvidia and Walmart are actually good for long-term stability. The guys also tackle a critical, structural conversation regarding long-term wealth preservation: the importance of integrating estate planning into your overall financial strategy. They discuss how simple legal documents like medical powers of attorney can safeguard your family from devastating financial and emotional legal battles.   Topics Discussed: ➡️ The World Cup's Multi-Billion GDP Impact: Hosting the tournament is projected to generate an estimated $17.2 billion in additional U.S. GDP and create roughly 185,000 temporary jobs. They look at how global sports tourism temporarily shifts consumer spending.  ➡️ First-Half 2026 Market Recap: Despite geopolitical conflicts and higher-for-longer interest rates, the NASDAQ rose 12.5% and the S&P 500 climbed 9.5%. They break down the resilience of the high-end consumer and what is driving this market momentum.  ➡️ Healthy Market Rotations: Walmart has retraced 20%+ from its May peak, yet the broader market remains stable. They discuss why individual stock "resets" (like Nvidia and Walmart) are a normal, healthy part of a broadening market cycle.  ➡️ Reassessing Risk & Essential Estate Planning: Why a strong market is the absolute best time to reassess your risk tolerance, evaluate debt, and establish foundational estate planning documents (wills, trusts, and medical powers of attorney).   Like, comment, or email us your financial questions at TheMarketMoment@mach1fg.com 

This week's Market Friday recap covers IPOs, ADRs, international investing, crypto regulation, geopolitical risk and the continued AI industrial revolution.Our term of the day is IPO, which stands for initial public offering. SK Hynix was already publicly traded in South Korea, but the company completed a massive U.S. public offering of American Depositary Receipts and began trading on the Nasdaq.An ADR, or American Depositary Receipt, is a U.S. traded security that represents shares of a company based outside the United States. ADRs make it easier for American investors to invest in foreign companies through U.S. markets and in U.S. dollars.SK Hynix is one of the largest memory chip companies in the world and a major supplier of the high bandwidth memory needed to power AI data centers. The stock jumped roughly 13% during its first day of U.S. trading, showing just how much investor demand remains for companies connected to the AI buildout.South Korea is also home to major global companies such as Samsung and LG, although not every foreign company is available to U.S. investors through the same ADR structure.International stocks do not always move in the opposite direction of U.S. stocks. However, owning companies across different countries can provide diversification because different economies and markets may lead at different times. International stocks outperformed U.S. stocks during 2025, but during a major global crisis, correlations often increase and markets around the world can fall together.We also explain the Peter Lynch term “ten bagger,” which describes an investment that grows to ten times its original value. Investors who select individual companies are searching for exceptional long term winners, but they also accept greater company specific risk. Investors who purchase an S&P 500 index fund are instead relying on the long term growth of hundreds of major companies without needing to identify the next ten bagger.Circle also received approval to establish a national trust bank. This does not mean Circle is becoming a traditional consumer bank with checking accounts, loans or rewards for depositing crypto. The new bank will initially focus on digital asset custody and strengthening the regulated infrastructure supporting USDC.Finally, we discuss renewed conflict involving the United States and Iran. Markets did react during the week, but they continued to show impressive overall resilience. Investors appear focused on whether the conflict becomes a larger and more lasting economic event, particularly through oil prices, inflation and the Strait of Hormuz.Barring a major escalation in global conflict, 2027 could be an incredible year for businesses, technology and the markets. The AI industrial revolution is no longer something coming in the future. It is already here and happening now.Hosted by James Walters, CIMA®, CRPC®, and Brandon West, CPA, co-owners of West & Walters Tax and Wealth Management, a Registered Investment Advisor (RIA) and tax firm based in Carlsbad, California. Our goal is to share market insights, investing tips, tax strategies, and straightforward financial education to help viewers make smarter financial decisions. All Information is educational in its intent and distribution! Please do not consider this personal financial advice. We believe all clients have unique situations and thus require unique advice.

Selling a business or stepping away from a career is often celebrated as the finish line. But for many business owners, that's when an entirely new journey begins. In this episode of Building Wealthy Habits, Laura sits down with Cindy Jennings, founder of Interwovenly and the LifeWise™ programs, which help business owners, executives, managers, and employees navigate life's biggest transitions with clarity and support. Together, they explore the personal side of retirement and business exits that often go unspoken. They discuss why so many successful leaders struggle after a major transition, how identity and purpose become just as important as financial readiness, and why preparing for your next chapter should begin long before the transaction is complete. Whether you're thinking about retiring, preparing to sell your business, or simply wondering what you want the next season of life to look like, this conversation offers a thoughtful perspective on building a future that's just as meaningful as the work you've already accomplished. Because preparing financially is only part of the journey. Preparing personally may be just as important. ---     Information and ideas discussed are general comments and cannot be relied upon as pertaining to your specific situation, do not constitute legal/financial advice, and do not create an attorney-client or fiduciary relationship. Examples discussed are fictional. You should consult your own advisor/attorney and do your own diligence prior to making any decisions. Investments involve risk and the possibility of loss, including the loss of principal. All situations are different, and results may vary. Randy Barkley is a life insurance agent CA license # 0518567 and Jeremiah Lee is a California licensed attorney and is responsible for this communication. Advisory services offered through TriCord Advisors, Inc., a Registered Investment Advisory firm.   

What if your relationship with money started long before you ever had a bank account?Money can be more intimate than sex — yet so many of us fear it, avoid it, or feel a desperate need to control it. That relationship often traces back further than we realize: your first interaction with money, how your parents managed theirs, or whether you were ever trusted to make financial decisions of your own. If you're in midlife and find yourself as the non-moneyed spouse, or wondering whether you'll truly be okay on your own — this episode is for you.In this episode, I sit down with Jennifer Lee, financial advisor and founder of Modern Wealth, for a grounded, honest conversation about men and women in transition, money, identity, divorce, loss, and what it actually takes to understand what you have and build a life within your means.We talk about the deeper story behind your relationship with money — the patterns, roles, and unspoken fears that surface the moment finances enter the conversation. This episode is designed to help you create enough clarity to stop avoiding the numbers and start making financial decisions rooted in your values and what you actually want.In this episode, you'll learn:How to identify your money story — and the patterns it may have quietly createdWhy your earliest money memories still shape your financial choices todayHow divorce financial planning brings clarity to one of life's hardest transitionsThe most important factors to understand before and during a divorceWhat to ask before choosing a financial advisorWhy the non-moneyed spouse needs a seat at the financial tableHow to divide marital assets and retirement accounts — and what a QDRO (Qualified Domestic Relations Order) is and when to start that processWhat it looks like when money becomes a form of control in relationshipsHow financial literacy builds lasting confidence with moneyWhat wealth building can look like after a major life transitionWhy money conversations matter when dating, partnering, or starting overWhether you're preparing for divorce, rebuilding your financial independence, or learning to trust yourself with money again — this conversation is a reminder that you don't have to know everything to begin making more empowered choices.Much love and freedom,LaurieClick here to purchase my “Nervous System Regulation Starter Kit” it's $29.99Click here to purchase my book: Sandwiched: A Memoir of Holding On and Letting GoFree ResourcesPrevious Episode with Jennifer Lee - Understanding Divorce and How to Prepare for A Strong Financial FutureClick here to schedule a FREE inquiry call with me.Click here for my FREE “Beginner's Guide to Somatic Healing”Click here for my FREE Core Values ExerciseConnect with me:WebsiteInstagramConnect with Jennifer:WebsiteLinkedinDiscussions in this show should not be construed as specific recommendations or investment advice. Always consult with your investment professional before making important investment decisions. Securities offered through Registered Representatives of Cambridge Investment Research, Inc., a broker-dealer, member FINRA/SIPC. Advisory services offered through Cambridge Investment Research Advisors, Inc., a Registered Investment Advisor. Modern-Wealth, LLC and Cambridge are not affiliated.Please leave me feedback. I cannot respond so if you'd like me to respond, please leave your email***********************DISCLAIMER: THE COMMENTARY AND OPINIONS AVAILABLE ON THIS PODCAST ARE FOR INFORMATIONAL AND ENTERTAINMENT PURPOSES ONLY AND NOT FOR THE PURPOSE OF PROVIDING LEGAL, MEDICAL OR PROFESSIONAL ADVICE. YOU SHOULD CONTACT A LICENSED THERAPIST IF YOU ARE EXPERIENCING SUICIDAL THOUGHTS. YOU SHOULD CONTACT AN ATTORNEY IN YOUR STATE TO OBTAIN LEGAL ADVICE. YOU SHOULD CONTACT A LICENSED MEDICAL PROFESSIONAL WITH RESPECT TO ANY MEDICAL ISSUE OR PROBLEM.

Every couple of years, a buzzword seems to rise up to become the industry's token topic.There was an era when "TAMP" was the sexy talk of the day.About 10 years ago, "hybrid" was all the rage.While these terms are still used today, past hype has sometimes caused confusion about when and how to use them.Case in point, should you join a "hybrid" RIA?But what does "hybrid" really even mean? After all, it's often used to describe several different logistical scenarios.In this episode (#152) of the Transition To RIA question & answer series I clarify what a "hybrid" RIA is, and when it might be a fit for our practice.Come take a listen!P.S. Prefer video? You can find this entire series in video format on Youtube. Search for the TRANSITION TO RIA channel.Show notes: https://TransitionToRIA.com/should-i-join-a-hybrid-ria/About Host: Brad Wales is the founder of Transition To RIA, where he helps financial advisors between $50M and $1B understand everything there is to know about WHY and HOW to transition their practice to the Registered Investment Advisor (RIA) model. Brad has 20+ years of industry experience, including direct RIA related roles in Compliance, Finance and Business Development. He has an MBA and has held the 4, 7, 24, 63 & 65 licenses. The Transition To RIA website (TransitionToRIA.com) has a large catalog of free videos, articles, whitepapers, as well as other resources to help advisors understand the RIA model and how it would apply to their unique circumstances.

Once you turn 65, you have roughly a 50/50 chance of needing extended care at some point. This episode breaks down what long term care insurance actually covers, what it costs, and how to structure it properly, especially for expats who may end up using benefits outside the US. This episode offers practical financial advice for expats and advice for immigrants trying to plan care decisions across two countries.   Richard Taylor, Chartered Financial Planner and founder of Plan First Wealth, is joined by returning guest Mark Maurer, President and CEO of LLIS, to explain the IRS triggers that qualify someone for long term care benefits and why average claim durations (around 2.5 years for men, 3.5-4 years for women) are far shorter than the worst-case scenarios people fear. As a British expat who built his practice around expat retirement planning, Richard frames the whole conversation through the lens of clients living abroad.   Richard and Mark walk through the three main ways to fund long term care: traditional standalone policies, permanent life insurance with a long term care rider and annuities with a long term care rider. They cover the real differences in premium structure, death benefits, tax treatment of benefits, underwriting requirements, and how 1035 exchanges can move an old annuity with deferred gains into a long term care policy tax-free.  They also discuss what happens to coverage if you move abroad. How international benefit provisions vary by carrier, why some policies cap overseas benefits at two years before requiring a return to the US, and what to check before relying on a policy while living outside the country. For anyone moving to the US or moving to America later in life, this is exactly the kind of detail that gets overlooked.   Whether you're 55 and starting to plan, caring for an aging parent, or advising clients with cross-border retirement assets, this episode covers the mechanics of long term care insurance in detail, not just the broad strokes. It fits into cross border financial planning for anyone managing international wealth across the UK and US. -- Expat Wealth is supported by Plan First Wealth. Plan First Wealth is a Registered Investment Advisor serving fellow expatriates and immigrants living across the US on matters such as retirement planning, investment management, tax planning and non-US asset management. https://planfirstwealth.com/   --   Expat Wealth is affiliated with Plan First Wealth LLC, an SEC registered investment advisor. The views and opinions expressed in this program are those of the speakers and do not necessarily reflect the views or positions of Plan First Wealth.    Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Plan First Wealth does not provide any tax and/or legal advice and strongly recommends that listeners seek their own advice in these areas.

Retirement today looks very different than it did even a decade ago. Managing your finances, protecting your identity, staying connected with family, accessing healthcare, and preserving your legacy are all becoming increasingly digital. While these advancements offer greater convenience and flexibility, they also introduce new risks that deserve careful planning. In this episode of Retirement Unlocked, Larry Heller, CFP®, CDFA®, explores how technology is reshaping retirement and why digital preparedness is essential to protecting your financial future. From cybersecurity and AI-powered scams to digital estate planning and everyday technology that supports independence, Larry shares practical insights to help you embrace innovation with greater confidence. Larry discusses:  Why retirement planning now includes cybersecurity, digital assets, and the protection of your online identity. How AI-powered scams, voice cloning, hacked emails, and identity theft are becoming increasingly sophisticated, and the practical steps retirees can take to protect themselves. The growing role of telehealth, wearable technology, and other digital tools in helping retirees maintain their independence and improve their quality of life. How technology is making it easier to travel, manage finances remotely, stay connected with family, and enjoy greater flexibility throughout retirement. Why organizing your digital assets, passwords, online accounts, and estate documents is becoming just as important as traditional estate planning. And more! Connect with Larry Heller:  (631) 248-3600 Schedule a 20-Minute Call Heller Wealth Management LinkedIn: Larry Heller, CFP®, CDFA®, CPA YouTube: Retirement Unlocked with Larry Heller, CFP® Heller Wealth Management is now part of Savant Wealth Management. Savant is a Registered Investment Advisor. This content is provided for informational and educational purposes only and should not be construed as personalized investment advice. Effective March 31, 2026, Heller Wealth Management joined Savant Wealth Management (“Savant”). A copy of Savant's current written disclosure Brochure discussing our advisory services and fees is available at www.savantwealth.com/disclosure-brochures/

With small-cap stocks quietly putting up historic numbers and massive structural changes being proposed for how Americans save for the future, the investing landscape is shifting right before our eyes. But how do these massive macroeconomic trends affect the money in your portfolio? In this episode, Matt, John, and Isaac take a data-driven look at the major trends shaping your portfolio. They break down the relentless multi-trillion-dollar surge into exchange-traded funds (ETFs) over traditional mutual funds, a historic 35-year record performance out of small-cap stocks, and the Treasury's recent rollout of default investment options for the new Trump Accounts*. The guys also tackle a massive, structural conversation making waves out of Washington: whether a forced employer model like the Australian retirement system could close the American retirement gap, and what that massive flow of private capital could mean for the future of the stock market. Topics Discussed:  ➡️ The Rise of ETFs vs. Mutual Funds: ETF asset flows are pacing for a record-breaking $2 trillion in 2026, challenging the traditional $24 trillion mutual fund landscape as everyday investors prioritize intraday liquidity and structural tax efficiencies.  ➡️ Trump Accounts* & Default Options: With over 6 million accounts already opened, the Treasury Department just announced its default, low-cost investment options—starting with the State Street SPDR Portfolio S&P 500 ETF (SPYM) alongside upcoming funds from BlackRock and Vanguard.  ➡️ Small-Cap Historic Outperformance: Small caps just locked in their best first six months in 35 years, surging 22% year-to-date and outperforming the S&P 500's 10% gains as capital begins to broaden out past the biggest tech names.  ➡️ The Australian Retirement Model: The administration is seriously evaluating Australia's "superannuation" model. We break down how a mandated 12% employer contribution works, how it contrasts with traditional (401k) plans, and the potential impact of moving retirement funds away from government control.   *Eligibility, tax treatment, and program rules may change and vary based on individual circumstances.    Sources:  https://www.barrons.com/advisor/articles/etf-asset-flows-record-state-street-992ff22b?mod=features https://www.barrons.com/advisor/articles/treasury-unveils-etf-lineup-for-trump-accounts-ahead-of-july-4-launch-bd188c34?mod=features https://www.barrons.com/articles/small-caps-just-had-their-best-first-half-since-1991-the-rally-isnt-over-31bef315?refsec=economy-and-policy&mod=topics_economy-and-policy https://www.foxbusiness.com/politics/trump-looking-very-strongly-australia-style-retirement-system-taking-that-making-sharper Enjoyed the episode? Don't forget to:

A growing business can create more opportunity, more momentum, and more income. But it can also create one of the least welcome surprises for business owners: a tax bill they did not see coming. In this episode of Building Wealthy Habits, we talk about why tax planning should not wait until April and why a strong year in business can quickly become stressful when cash flow, estimates, and planning are not aligned. For many entrepreneurs, the issue is not just the tax bill itself. It is the pressure it creates at home, the questions it raises about the business, and the feeling of wondering what everyone else knows that you do not. This conversation explores how business owners can move from reactive tax conversations to a more proactive, coordinated planning approach From quarterly check-ins to aligning your CPA, advisor, attorney, and broader financial team, the goal is to create more clarity before the surprise arrives. Because the more your business grows, the more important it becomes to have a plan that grows with it. #TaxPlanning #BusinessOwners #Entrepreneurship #FinancialPlanning #BusinessGrowth #WealthManagement Connect with Jeremiah:    LinkedIn: https://www.linkedin.com/in/jeremiahjlee/    Email: Jeremiah@tricordadvisors.com    Connect with Laura:    LinkedIn: https://www.linkedin.com/in/laura-lee-59a83610/   Email: Laura@tricordadvisors.com   ---    Information and ideas discussed are general comments and cannot be relied upon as pertaining to your specific situation, do not constitute legal/financial advice, and do not create an attorney-client or fiduciary relationship. Examples discussed are fictional. You should consult your own advisor/attorney and do your own diligence prior to making any decisions. Investments involve risk and the possibility of loss, including the loss of principal. All situations are different, and results may vary. Randy Barkley is a life insurance agent CA license # 0518567 and Jeremiah Lee is a California licensed attorney and is responsible for this communication. Advisory services offered through TriCord Advisors, Inc., a Registered Investment Advisory firm.  

The market was closed Friday for the 250th anniversary of American independence, but investors still had plenty to digest from a surprising week.Blue chip stocks finally came alive as companies like Apple, McDonald's, Walmart, and Johnson & Johnson gained ground. Technology and memory chip stocks struggled, while the Dow extended its winning streak to four consecutive weeks. Despite the rotation, all three major indexes finished the week higher. James breaks down the June jobs report, the drop in the unemployment rate, changing expectations for Federal Reserve interest rates, falling oil prices, Bitcoin trading near $60,000, and why strong corporate earnings could continue supporting the market.The episode also explains why falling technology stock prices may create long term opportunities, why share prices can behave like a voting machine in the short term but a weighing machine over time, and why consistently investing in the S&P 500 may be the most reliable path for the average investor. Quote of the Day: “Everyman is my superior that I may learn from him or her”.Hosted by James Walters, CIMA®, CRPC®, and Brandon West, CPA, co-owners of West & Walters Tax and Wealth Management, a Registered Investment Advisor (RIA) and tax firm based in Carlsbad, California. Our goal is to share market insights, investing tips, tax strategies, and straightforward financial education to help viewers make smarter financial decisions. All Information is educational in its intent and distribution! Please do not consider this personal financial advice. We believe all clients have unique situations and thus require unique advice.

THE TOM DUPREE SHOW  |  PODCAST SHOW NOTES How Do Insurance Companies Make Money? Lessons for Retirement Investors The Tom Dupree Show  |  Dupree Financial Group  |  dupreefinancial.com  |  859-233-0400 Episode Description Tom Dupree, Mike Johnson, and Michael Dawahare open with a Charlie Munger parable about the difference between memorized information and true understanding, then apply that lens to the week’s market headlines. They cover how SpaceX’s move into the cellphone business is reshaping the investment case for Verizon and AT&T, why property and casualty insurance stocks quietly outperformed in June, and what “combined ratio” and investment float actually reveal about how insurers make money. The conversation closes with a candid look at reshoring and globalization, and a reminder that even familiar, reliable dividend payers deserve a fresh look when the competitive landscape shifts. “Information is table stakes now — everybody has the same information. What separates a good investment decision from a bad one is understanding.” Topics Covered •  How property and casualty insurance stocks quietly outperformed the market in June •  What “combined ratio” reveals about an insurance company’s underwriting discipline •  How insurance “float” works, and Warren Buffett’s disciplined approach to it •  Charlie Munger’s “chauffeur knowledge” parable and why it matters for investors •  SpaceX’s entry into the cellphone business and what it means for Verizon and AT&T •  Reading stock technicals: what a broken 200-day moving average signals •  Comcast’s spin-off of its media business and the market’s reaction •  The case for U.S. manufacturing reshoring and its ripple effects on commercial insurance •  Knowing when to trim a position that’s run up quickly, using Verizon as an example •  A candid conversation on globalization’s impact on American manufacturing towns Key Takeaways •  Combined ratio is a key health check. A combined ratio under 100 means an insurer is collecting more in premiums than it pays out in claims — a simple number that reveals whether underwriting discipline is paying off. •  Insurance companies can be quiet compounding machines. A disciplined insurer that prices its risk well collects a “float” — premium dollars it can invest — that can become one of the most powerful long-term wealth-building tools in a portfolio. •  Understanding beats information. Anyone can look up a stock’s numbers online — the real edge comes from understanding how a business, its competitors, and the broader market actually interact. •  Technicals matter alongside fundamentals. A stock breaking below its 200-day moving average, as Verizon did, is a signal worth watching — but it doesn’t replace a full evaluation of dividend, valuation, and long-term outlook. •  Outperformance can be a signal to trim, not just celebrate. When a holding runs up quickly, as Verizon did earlier this year, it may be time to take some profit and reassess valuation rather than assume the gains will continue. •  Watch how a thesis plays out in the data. Rather than assuming a trend like reshoring is correct, disciplined investors track whether the facts and market behavior continue to support it. •  Not every “safe” dividend payer carries the same risk today. Long-held positions can face new competitive threats, so it’s worth revisiting whether the original reasons you bought them still hold true. About The Tom Dupree Show The Tom Dupree Show is hosted by Tom Dupree, founder of Dupree Financial Group and a 47-year veteran of the investment business. Each episode covers the financial topics that matter most to retirees and those approaching retirement — in plain English, without the Wall Street spin. Dupree Financial Group is a fee-only, fiduciary Registered Investment Advisory firm based in Lexington, Kentucky. The firm manages separately managed accounts focused on income-generating, dividend-paying portfolios — no products sold, no commissions, no conflicts of interest. Past episodes are available at dupreefinancial.com under the Radio tab. Schedule a Complimentary Portfolio Review If you’re not sure whether your portfolio still reflects the reasons you first bought it, or whether new competitive and market forces have quietly changed the picture — we’ll take a look. No charge. No pressure. Just an honest conversation about what you own and whether it’s working for you. Call: 859-233-0400  |  Visit: dupreefinancial.com The post How Do Insurance Companies Make Money? Lessons for Retirement Investors. appeared first on Dupree Financial.

With the stock market hovering around all-time highs at the halfway point of the year, it's easy to let short-term market noise, geopolitical tensions, or Fed anxiety dictate your strategy. But what truly drives long-term stock returns? In this episode, Matt, Lee, and John take a data-driven step back to look at what the market actually cares about: corporate earnings. They break down the lockstep correlation between forward earnings growth and stock prices, the massive broadening out of the market (including the recent 21-22% surge in the Russell 2000), and why the historical divergence between small-cap and large-cap earnings is rapidly closing. The guys also tackle the massive CapEx spending trends of tech hyperscalers, the recent performance of gold and Bitcoin, and why a truly diversified portfolio built for the long haul is your best defense against market volatility. Topics Discussed: ➡️ Market Drivers vs. Noise: The long-term engine behind stock returns is corporate earnings growth, which historically moves lockstep with stock prices, whereas politics, Fed actions, and geopolitical events tend to drive short-term sentiment and volatility. ➡️ Market Broadening: The S&P 500's year-to-date gains have broadened out to the wider market, with the Magnificent 7 no longer acting as the primary drivers and smaller companies in the Russell 2000 outperforming. ➡️ Tech CapEx and Free Cash Flow: Major tech hyperscalers are heavily spending their free cash flow on massive capital expenditures (CapEx) for infrastructure and AI, leading the market to re-rate their near-term valuation multiples. ➡️ Geopolitical Resiliency: Despite ongoing conflicts like the war involving Iran and friction in the Strait of Hormuz, historical data shows the stock market typically adjusts to long-standing geopolitical tensions over time as global infrastructure adapts. ➡️ Asset Class Shifts: Safe-haven and alternative assets like gold, silver, and Bitcoin have recently experienced sharp sell-offs, contrasting with the stock market sitting near all-time highs. ➡️ Small-Cap Earnings Recovery: Small-cap corporate earnings have staged a dramatic recovery since late 2025/early 2026, closing the significant performance divergence that opened up against large-caps starting in 2022.   Enjoyed the episode? Don't forget to:

That is the trap. And it is compounded right now by something called recency bias — the tendency to assume that what has been happening will keep happening. Markets have gone up for a long time. New IPOs are capturing attention. There is enthusiasm in the air. And enthusiasm breeds complacency. People assume the funds that have been performing well will keep performing well, without checking whether the companies inside them still deserve their valuations.   [ { "@context": "https://schema.org", "@type": "PodcastEpisode", "name": "When to Hold, When to Sell: Staying Invested Through Market Volatility", "url": "https://www.dupreefinancial.com/when-to-hold-when-to-sell-market-volatility/", "description": "Tom Dupree and Lead Advisor Mike Johnson discuss the discipline behind staying invested during volatile markets — covering dividend income strategy, valuation-based sell decisions, and why the firm currently holds a significant cash position.", "partOfSeries": { "@type": "PodcastSeries", "name": "The Tom Dupree Show", "url": "https://www.dupreefinancial.com" }, "author": { "@type": "Person", "name": "Tom Dupree" }, "publisher": { "@type": "Organization", "name": "Dupree Financial Group", "url": "https://www.dupreefinancial.com" } }, { "@context": "https://schema.org", "@type": "FAQPage", "mainEntity": [ { "@type": "Question", "name": "Should I sell my investments when the stock market drops?", "acceptedAnswer": { "@type": "Answer", "text": "Selling during a market drop is one of the costliest decisions a retirement investor can make. Research from Hartford Funds shows that 76% of the stock market's best single days occurred during a bear market or in the first two months of a new bull market. Investors who exit to avoid the declines frequently miss the recoveries that follow almost immediately — often within days." } }, { "@type": "Question", "name": "How does dividend income protect a retirement portfolio during volatility?", "acceptedAnswer": { "@type": "Answer", "text": "Dividend income provides a return that doesn't depend on stock prices rising. When markets fall, dividends continue to arrive and can cover living expenses without forcing a sale at depressed prices. For retirement investors managing sequence of returns risk — the danger that early losses permanently damage a portfolio — income from dividends reduces or eliminates the need to liquidate holdings at the worst possible moment." } }, { "@type": "Question", "name": "What is the right way to decide when to sell a stock?", "acceptedAnswer": { "@type": "Answer", "text": "The sell decision should be grounded in company-specific valuation and fundamentals, not broad market fear. A position may warrant trimming when its price has risen well beyond what the underlying business justifies, when the dividend yield for new buyers has become unattractive, or when the company's core business model has changed materially. Selling because the market is falling — absent a fundamental reason specific to that company — is rarely supported by evidence." } }, { "@type": "Question", "name": "Can you successfully time the stock market to avoid losses?", "acceptedAnswer": { "@type": "Answer", "text": "Consistent broad market timing has an extremely poor track record. Fidelity's analysis shows that a hypothetical $10,000 invested in the S&P 500 from 1988 through 2024 grew to over $500,000 for a buy-and-hold investor — but missing just 5 of the best days reduced those gains by 38%, and missing the 50 best days left the investor with under $40,000. The best and worst days cluster together, so exiting to avoid the bad ones typically means missing the good ones too." } }, { "@type": "Question", "name": "What is sequence of returns risk and why does it matter in retirement?", "acceptedAnswer": { "@type": "Answer", "text": "Sequence of returns risk is the danger that poor market returns early in retirement — combined with ongoing withdrawals — permanently damage a portfolio before it can recover. Retirement researcher Wade Pfau found that roughly 77% of a portfolio's final outcome is explained by just the first ten years of returns. Fidelity's research illustrates this with two hypothetical retirees who each start with $1 million and withdraw $50,000 a year, experiencing the same returns over 30 years in reverse order — one finishes with over $3 million, the other runs out of money by year 27. A dividend-income approach helps manage this risk by providing cash flow that reduces forced selling during down markets." } } ] } ] Should You Sell When the Market Drops? The Case for Staying Invested During Volatility By Tom Dupree, Founder — Dupree Financial Group  |  Last Updated: June 2026  |  dupreefinancial.com I have been managing money for 47 years. In that time, I have watched investors survive crashes, recessions, a pandemic, and a handful of moments that felt — from inside them — like the whole thing was coming apart. The ones who came through it best almost never did it by being clever about timing. They did it by staying invested when everything in them said to get out. That sounds simple. It is not. Because when the market is dropping and the financial news is relentless and your account balance is going the wrong direction, selling feels like the rational move. It feels like you are finally doing something instead of just watching it happen to you. But here is what I have seen happen to the investors who acted on that feeling. They sold. They waited for things to settle down. And by the time they felt safe enough to get back in, the market had already recovered most of the ground they were trying to protect themselves from losing. The exit was imperfect. The re-entry was worse. And the cost of both — measured in missed growth and missed dividends — followed them for years. This post is about staying invested during market volatility — what that actually means in practice, when it is right to hold, and how dividend income changes the calculation entirely for anyone approaching or already in retirement. Key Takeaways The best market days happen during the worst ones. Research shows 76% of the market’s best single days occur during bear markets or in the first two months of a new bull run. Exiting to avoid the declines means missing the recoveries. Dividends solve a problem index funds cannot. Income from your holdings lets you cover living expenses in retirement without selling assets at depressed prices — the key to managing sequence of returns risk. Valuation is not the same as market fear. The right reason to sell a position is a change in the company’s underlying value or business fundamentals — not a falling stock price. Cash is a valuation call, not a retreat. Holding more cash than usual signals that current prices don’t offer enough compelling opportunities — it preserves capital and creates optionality. Knowing what you own is not optional. Without understanding your underlying holdings, market price movements become your only signal — and that is exactly when emotional decision-making takes over. Why Panic Selling Costs More Than the Drop Itself There is a number I come back to every time markets get rough, and it never stops being striking. Seventy-six percent of the stock market’s best single days over the past 30 years occurred either during a bear market or in the first two months of a new bull market. Think about what that means in practical terms. The days that do the most to rebuild a damaged portfolio almost never arrive when things feel safe. They arrive in the middle of the chaos — often within days of the worst declines. Fidelity’s data makes the cost of missing those days concrete. A hypothetical $10,000 invested in the S&P 500 from 1988 through 2024 grew to over $500,000 for a buy-and-hold investor. Miss just the 5 best days over that entire period and that gain shrinks by 38%. Miss the 50 best days and the $500,000 portfolio is worth under $40,000. Same time period, same starting amount — the only difference is whether you were in the market on a handful of days you could not have predicted in advance. Most investors who exit during a decline are not planning to miss 30 or 40 good days. They are planning to get back in when things settle down. But the settling down and the best days are not separate events. They are the same event. The investor who moved to cash in March 2020 — when the news was genuinely terrifying — locked in losses right before one of the fastest recoveries in market history. The recovery did not wait for the all-clear signal. “Income from the portfolio tilts the table in your favor — it puts time back on your side while you wait for price appreciation.” — Tom Dupree, Dupree Financial Group I have watched this play out with investors who were half right. They called a decline correctly. The market went down, just as they predicted. But it did not go down as far as they expected, so they never pulled the trigger to buy back in — and then the market moved up, and their window closed. Being right about direction and wrong about magnitude still cost them. A partial win that turns into a full loss. The ego piece matters too. Once someone has made a public call to get out, getting back in means admitting the exit was a mistake. I have seen investors stay on the sidelines for years rather than admit they were wrong. The market moved on. They did not. Why Retirement Investors Face a Different Problem Than Everyone Else For investors who are still accumulating — still adding to their portfolios every month — a market decline is a nuisance. It may even be an opportunity. They are buyers, and lower prices mean they get more for their money. For investors who are drawing from their portfolios to pay for their lives, a market decline at the wrong time is something far more serious. There is a specific name for it: sequence of returns risk. Retirement researcher Wade Pfau has quantified the magnitude of this effect: approximately 77% of a portfolio’s final retirement outcome can be explained by the returns of just the first ten years. The first decade is not just an early chapter in a long story. For most retirees, it is most of the story. Fidelity puts a dollar figure on it. Two hypothetical retirees each start with $1 million and withdraw $50,000 a year, experiencing the exact same set of annual returns over 30 years — just in reverse order. The retiree whose strong years come first finishes with over $3 million. The one whose losses arrive first sees the portfolio gone by year 27. Same returns. Same withdrawals. Different sequence. Completely different life. This is the problem that average returns and long-term market graphs do not show you. They assume you are a lump sum sitting patiently in the market for decades, untouched. Most retirees are not that. They are drawing money out regularly. And when you are drawing money out, the order of returns matters as much as the average of them. I have said this on the show, and I will say it again here: Wall Street will show you long-term averages because averages look good. But averages do not pay your electric bill in a down market. What pays your electric bill is income — dividends arriving in your account regardless of what prices are doing. How Dividend Income Changes the Calculus on Staying Invested When a stock pays a meaningful dividend, the decision to sell it is not just a price decision. It is also a decision to give up a stream of income — potentially forever. That changes the analysis. Take a position like AGNC, a mortgage REIT that carries an above-average dividend yield. The price moves around. But the income it generates is meaningful, consistent, and independent of what the stock is doing on any given Tuesday. Selling to avoid price volatility means giving up that income. And over time, the income you give up typically exceeds whatever you thought you were protecting yourself from. The same logic applies to long-held pipeline stocks. The dividend yield on those positions for new buyers today is far less attractive than it was when we established our stake years ago. But we have continued to hold because the income stream we are receiving — based on our original cost basis — is still excellent, and we do not believe we can replicate that income at current prices. This is the part of portfolio management that does not show up in most financial planning software. It is not just about what a stock is worth today. It is about what it pays you while you hold it. A stock that generates consistent income buys you time — time to wait through price volatility without being forced into a sale, time for the thesis on the business to play out, time for the market to re-price something it has temporarily misjudged. That is what I mean when I say income puts time back on your side. In retirement, time is the asset you have the least of. Dividends give some of it back. When Does It Actually Make Sense to Sell? Staying invested does not mean holding everything forever. The argument against panic selling is not an argument against selling. It is an argument for selling with a reason — a real, company-specific, valuation-grounded reason. We trim positions when the math stops making sense. Earlier this year, we reduced our oil company holdings. Not because oil was going to collapse. Not because the market scared us. But because when we looked at the valuations, the stocks had gotten expensive relative to what the underlying business was actually producing. The commodity prices and the stock prices had diverged to a point where the math no longer worked in our favor. That is a logical reason to take some off the table. We also sold Kroger. That one took a little more explanation to clients. Kroger looks like a grocery company. And it is. But a meaningful portion of Kroger’s profitability runs through its fuel stations. When gasoline prices rise and consumption falls, that profit driver weakens. Meanwhile, the grocery side of the business had to contend with sharply higher food prices — which does not help unit volume. The business model was under real pressure on two fronts. The stock price had not fully caught up with that reality. So we sold. Notice what both of those decisions have in common. Neither one was driven by where the S&P 500 was trading or what the Federal Reserve said last week. Both were grounded in a specific company, a specific business dynamic, and a specific valuation judgment. That process has to be built into how you manage a portfolio from the beginning — not invented in the middle of a panic. Investor Howard Marks captured it well: “You can’t predict, but you can prepare.” The preparation is knowing, in advance, what would cause you to sell a given holding. Price hitting a specific valuation threshold? A change in the company’s earnings power? A dividend cut? Define it before the market gets rough, so you are not making those decisions under pressure. “You can’t predict, but you can prepare.” — Howard Marks, investor and co-founder of Oaktree Capital Management What a Large Cash Position Really Signals Right now, Dupree Financial Group holds roughly 35% of client portfolios in cash and short-duration bonds. That is well above our historical norm. And I want to be specific about what that means and what it does not mean. It does not mean we think the market is about to crash. Nobody knows that. It does not mean we are sitting on our hands. Cash in this rate environment still generates a return. What it does mean is that when we look at current equity valuations broadly — across the sectors we know well, the companies we follow closely — we are having a harder time finding things we want to own at current prices. Valuations look stretched relative to what the underlying businesses can reasonably deliver. And when we cannot find things worth buying at the price the market is asking, holding cash is not a failure of nerve. It is a rational response to what the market is offering. Here is the result we can point to: portfolios with that 35% defensive allocation have delivered returns comparable to some fully-invested indexes. Protecting retirement capital while generating competitive returns with meaningfully less risk — that is not a bad outcome. It is actually the whole point. We are not a hedge fund required to be 100% deployed. We are managing retirement money. That means the risk profile — not the potential return — has to come first. The sell discipline flows from the risk profile. Everything else follows from that. The Real Problem With Most 401(k) Portfolios I talk to a lot of people approaching retirement who, when I ask what they own, tell me the names of their funds. Fidelity Target Date 2025. Vanguard Total Market. Some growth fund their HR department selected in 2011. They do not know the underlying holdings. They do not know their actual sector exposure. They do not know what percentage of the fund is in companies that have become very expensive over the past few years, and what percentage is in companies that are still reasonably priced. They do not know whether any of their holdings pay meaningful dividends. What they do know is the price of the fund. And when the price goes down, that is the only signal they have. No context, no analysis, no understanding of whether the drop reflects something real or just a broad market reaction that will pass. So they feel fear. And some of them act on it. That is the trap. And it is compounded right now by something called recency bias — the tendency to assume that what has been happening will keep happening. Markets have gone up for a long time. New IPOs are capturing attention. There is enthusiasm in the air. And enthusiasm breeds complacency. People assume the funds that have been performing well will keep performing well, without checking whether the companies inside them still deserve their valuations. The major indexes have also undergone significant rotation lately — the companies that led for the past several years are no longer the leaders. If you hold a broad index fund and have not looked inside it recently, the portfolio you thought you owned may be meaningfully different from the one you actually own today. Know what you own. Why you own it. And what conditions would cause you to make a change. That is not a complicated framework. But without it, you are flying on instruments you cannot read in weather you did not see coming. What to Actually Do: A Framework for Staying Invested Wisely Here is how we think about it at Dupree Financial Group — and how I would encourage any retirement investor to think about it: Understand each holding before volatility arrives. Know what every position is, what it pays, what would make you sell it, and what would make you add to it. This should be settled before the market gets rough, not improvised in the middle of it. Build income into the portfolio. Dividend-paying holdings provide cash flow that lets you meet retirement expenses without selling assets at depressed prices. This is the most direct and reliable way to manage sequence of returns risk. Sell on valuation, not on fear. If the stock price has risen well beyond what the business justifies — or if something has fundamentally changed in how the company earns money — that is a reason to trim or exit. A declining stock price, by itself, is not. In fact, a declining price in a good business is often a reason to consider adding. Treat cash as a judgment about opportunity, not a retreat from markets. Holding cash is a statement that you do not currently see enough value to deploy it. It keeps you liquid for when better opportunities appear. It is not the same as giving up on investing. If you do not understand your portfolio, get help before the next downturn. You should be able to articulate, in plain terms, what you own and why. If you cannot, find someone who can help you get there. Not a product salesperson — a fiduciary who charges a fee to give you advice that is actually in your interest. Frequently Asked Questions Should I sell my investments when the stock market drops? Selling during a market drop is one of the costliest decisions a retirement investor can make. Research from Hartford Funds shows that 76% of the stock market’s best single days occurred during a bear market or in the first two months of a new bull market. Investors who exit to avoid the declines frequently miss the recoveries that follow almost immediately — often within days. Unless there is a fundamental, company-specific reason to sell, staying invested has historically been the better outcome. How does dividend income protect a retirement portfolio during volatility? Dividend income provides a return that doesn’t depend on stock prices rising. When markets fall, dividends continue to arrive and can cover living expenses without forcing a sale at depressed prices. For retirement investors managing sequence of returns risk, income from dividends reduces or eliminates the need to liquidate holdings at exactly the wrong moment — which is when the long-term damage typically gets done. What is the right way to decide when to sell a stock? The sell decision should be grounded in company-specific valuation and fundamentals — not broad market fear. A position may warrant trimming when its price has risen well beyond what the underlying business justifies, when the dividend yield for new buyers has become unattractive, or when the company’s core business model has changed materially. Selling because the market is falling, absent a specific reason tied to that company, is rarely the right call. Can you successfully time the stock market to avoid losses? Consistent broad market timing has an extremely poor track record. Fidelity’s analysis shows that a hypothetical $10,000 invested in the S&P 500 from 1988 through 2024 grew to over $500,000 for a buy-and-hold investor — but missing just 5 of the best days reduced those gains by 38%, and missing the 50 best days left the investor with under $40,000. The best and worst days cluster together, so exiting to avoid the bad ones typically means missing the good ones too. Valuation analysis on individual holdings is a more reliable guide than macro market calls. What is sequence of returns risk and why does it matter in retirement? Sequence of returns risk is the danger that poor market returns early in retirement — combined with ongoing withdrawals — permanently damage a portfolio before it can recover. Retirement researcher Wade Pfau found that roughly 77% of a portfolio’s final outcome is explained by just the first ten years of returns. Fidelity’s research puts a dollar figure on it: two hypothetical retirees, each starting with $1 million and withdrawing $50,000 a year, experience the same returns over 30 years but in reverse order — one finishes with over $3 million, the other runs out of money by year 27. A dividend-income approach helps manage this risk by providing cash flow that reduces forced selling during down markets. The Close: What the Market Does Not Owe You I learned this one the hard way early in my career, and it cost me personally and it cost some of my clients. The market does not care that you own something. It does not reward loyalty. It does not notice that you’ve held a position through three bad quarters and deserve a good one. The market is just the market. In the long run, it prices things with reasonable efficiency. In the short run, it is highly inefficient — driven by fear, greed, momentum, and a hundred other forces that have nothing to do with the underlying value of the businesses you own. Your job — and our job — is to understand value well enough to hold when the market underprices something good, and to step back when it overprices something we used to like. To get paid while we wait, through dividends. To stay optimistic enough to keep doing this at all, because investing requires belief that businesses will create value over time and that human ingenuity will keep generating things worth owning. None of that is possible if you sell every time it gets uncomfortable. Staying invested is not a passive act. Done right, it is one of the most disciplined things an investor can do. Related Reading and podcasts: The Tom Dupree Show — Full Episode Archive Dupree Financial Group — How We Build Income Portfolios What Is a Fee-Only Fiduciary and Why Does It Matter? Schedule a Complimentary Portfolio Review If you’re not sure whether your portfolio is built to generate income through market volatility — we’ll take a look. No charge. No pressure. Just an honest conversation about what you own and whether it’s working for you. Call: 859-233-0400  |  Visit: dupreefinancial.com About the Author Tom Dupree is the founder of Dupree Financial Group and has worked in the investment industry for 47 years. Dupree Financial Group is a fee-only, fiduciary Registered Investment Advisory firm based in Lexington, Kentucky, specializing in income-generating, dividend-paying portfolios for retirees and those approaching retirement. Tom hosts The Tom Dupree Show, a weekly radio program and podcast covering retirement investing topics in plain English. Dupree Financial Group is an SEC-registered investment adviser. Registration does not imply a certain level of skill or training. The information presented is for educational purposes only and does not constitute investment advice. All investing involves risk, including the possible loss of principal. Past performance is not indicative of future results. Securities mentioned are for illustrative purposes only and are not a recommendation to buy or sell any security. Please consult a qualified financial professional before making any investment decisions. The post Staying Invested During Market Volatility: When to Hold and When to Sell | Dupree Financial appeared first on Dupree Financial.

THE TOM DUPREE SHOW  |  PODCAST SHOW NOTES When to Hold, When to Sell: Staying Invested Through Market Volatility The Tom Dupree Show  |  Dupree Financial Group  |  dupreefinancial.com  |  859-233-0400 Episode Description When markets get choppy, the instinct to move to the sidelines can feel overwhelming — but acting on that instinct often costs investors far more than the volatility itself. In this episode, Tom Dupree and Lead Advisor Mike Johnson walk through the discipline behind staying invested, explaining how Dupree Financial Group evaluates when to hold a position, when to trim, and when to walk away entirely. The conversation covers real examples from their current portfolio — including dividend-paying holdings, pipeline stocks, and a diesel engine company that became a quasi-AI play — to illustrate how valuation and income generation shape every buy, hold, and sell decision. Tom and Mike also explain why the firm carries a significant cash position right now, and what that signals about how they view current market valuations. “Income from the portfolio tilts the table in your favor — it puts time back on your side while you wait for price appreciation.” Topics Covered Why panic selling during volatility almost always harms long-term returns How dividend income changes the calculus on whether to hold or sell The difference between timing the market and assessing individual stock valuations Real portfolio decisions: oil companies, pipeline stocks, Kroger, and an AI-adjacent diesel play Why the firm is holding more cash than usual — and what it says about current valuations The perma-bull vs. perma-bear debate and why optimism is essential for long-term investors How a team-based investment approach produces better decisions than any single viewpoint Why most 401(k) holders don’t know what they own — and why that matters more than ever Key Takeaways Dividends give you staying power. When a holding generates consistent income, missing that payout by selling too early is a real cost. Income from your portfolio buys you time to wait out price swings without being forced to sell at the wrong moment. The market’s best days cluster around its worst ones. Nearly half of the 50 best market days over the past 30 years occurred during bear markets. Investors who exit to avoid the drops frequently miss the recoveries that follow within days. Valuation — not emotion — should drive selling decisions. Tom and Mike trim positions when the math no longer makes sense: oil company stocks trading 25% above where they were when oil prices were identical, or a grocery chain whose core margin driver is eroding. Logic, not fear, triggers the sell. You can’t time the market, but you can prepare for it. As investor Howard Marks has noted, the goal isn’t prediction — it’s preparation. Knowing what you own, why you own it, and at what price it becomes expensive puts you in a position to act with clarity rather than react with panic. Not all stocks are meant to be held forever. Some positions are designed to be traded; others are core long-term holds. Understanding the difference — and building that distinction into your process from the start — is what separates disciplined investing from guesswork. A cash position is itself a valuation statement. Dupree Financial Group currently holds a significant cash and bond allocation because valuations look stretched. That defensive posture has allowed the portfolio to perform comparably to fully-invested indexes while taking on meaningfully less risk. Know what you own. Many retirement investors hold mutual funds or target-date funds without understanding the underlying holdings. If price movements in your portfolio are a mystery to you, you’re letting emotions — not analysis — make your decisions for you. About The Tom Dupree Show The Tom Dupree Show is hosted by Tom Dupree, founder of Dupree Financial Group and a 47-year veteran of the investment business. Each episode covers the financial topics that matter most to retirees and those approaching retirement — in plain English, without the Wall Street spin. Dupree Financial Group is a fee-only, fiduciary Registered Investment Advisory firm based in Lexington, Kentucky. The firm manages separately managed accounts focused on income-generating, dividend-paying portfolios — no products sold, no commissions, no conflicts of interest. Past episodes are available at dupreefinancial.com under the podcast tab. Schedule a Complimentary Portfolio Review If you’re not sure whether your portfolio is built to generate income through market volatility — we’ll take a look. No charge. No pressure. Just an honest conversation about what you own and whether it’s working for you. Call: 859-233-0400  |  Visit: dupreefinancial.com Dupree Financial Group is an SEC-registered investment adviser. Registration does not imply a certain level of skill or training. The information presented is for educational purposes only and does not constitute investment advice. All investing involves risk, including the possible loss of principal. Past performance is not indicative of future results. Securities mentioned are for illustrative purposes only and are not a recommendation to buy or sell. Please consult a qualified financial professional before making any investment decisions.The post Staying Invested During Market Volatility: When to Hold and When to Sell appeared first on Dupree Financial.

Send us Fan MailYou have been out of the workforce for years, you are in the middle of a divorce, and someone just told you that you need to get a job. Where do you even start?This week we are sitting down with not one, not two, but three powerhouse women behind SheQuip, Pamela Lisle Smith, Carol Savvas, and Kate Rapier. SheQuip is a career reentry service built specifically for women coming out of divorce who need to get back into the workforce with confidence, strategy, and real support behind them. Together these three are doing something that is genuinely needed. They are taking women who feel broken, overwhelmed, and completely out of the loop and helping them see that the skills they have built while raising kids, managing households, running fundraisers, and navigating life are absolutely valuable in today's marketplace.In this episode we get into the real stuff. How to rebuild a resume when you have been out of the workforce for years. Why LinkedIn is non-negotiable right now and how to actually use it. The free certifications and courses that can refresh your skills fast. How to negotiate your job search support right into your divorce settlement. And the story of a woman who said she had done nothing, only to reveal she had organized a fundraiser for over 1,000 people.Carol's reminder is this: what if it is easier than you think? Start walking. Get those comfortable shoes on. The mountain in front of you might not be as steep as it looks. Join us for next week's Money Talks “What Happens to Your Mortgage When You Divorce?”. Click here to register for FREE and bring your questions!  This episode is supported by Marguerita Cheng, CFP®, RICP®, CDFA®, CEO of Blue Ocean Global Wealth. Marguerita works with women navigating divorce to bring clarity, confidence, and control back into their financial lives. At Blue Ocean Global Wealth, the focus is on helping women understand their options, make informed decisions, and feel empowered about their financial future, especially during moments that feel uncertain or overwhelming. If you're going through divorce and want support that's clear, grounded, and centered on your long term wellbeing, you can learn more and connect with Marguerita at www.blueoceanglobalwealth.com and follow her on LinkedIn, Instagram, Facebook, and Youtube.Disclosure:Securities offered by Registered Representatives and Advisory products and services offered by Investment Advisory Representatives through Private Client Services, member FINRA/SIPC, and a Registered Investment Advisor. Private Client Services and Blue Ocean Global Wealth are unaffiliated entities.Follow & connect with SheQuip:LinkedIn Website InstagramWant to take this conversation one step further? Join us for our next Money Talks, a free 30 minute live session where we'll dig into a question we hear all the time from women business owners: Budgeting for Businesses to Offer Benefits. Click here to register for FREE and bring your questions! Follow & connect with us!Website Facebook PageFacebook groupInstagramTikTokLinkedInYouTubeReddit ResourcesHave questions? Click this to check out our expert Q&A for tips from industry experts, tailored to help women address their most common financial concerns. Subscribe to our newsletter to receive financial tips delivered weekly here!...

You've worked hard to build something real. But eventually, a new question begins to emerge: What do you want your money to do for you? Too many people spend years accumulating wealth without taking the time to define the life they actually want that wealth to support. They follow the crowd, delay their dreams, and assume there is a "right" way to retire, travel, give, or spend their time. In this episode of Building Wealthy Habits, we explore why financial planning should never be one-size-fits-all. From retirement and financial independence to family legacy, charitable giving, and lifestyle choices, we discuss how clarity around your vision can help create a plan that fits your life. Because financial freedom is not about reaching someone else's finish line. It's about understanding what matters most to you and building a plan that supports it. Whether you're approaching retirement, considering a major life transition, or simply wondering what comes next, this conversation will help you think differently about the relationship between your wealth and the life you've worked so hard to build. #BuildingWealthyHabits #FinancialPlanning #RetirementPlanning #FinancialFreedom #WealthManagement #PersonalFinance #LegacyPlanning #TriCordAdvisors 00:00 What do you want your money to do for you? 03:47 Why financial planning is not one-size-fits-all 07:37 Making the shift from earning income to living from assets 11:09 Using wealth to support your priorities 15:23 Why financial independence is more than a math problem 20:26 Building a plan for the next season of life Connect with Jeremiah:   LinkedIn: https://www.linkedin.com/in/jeremiahjlee/   Email: Jeremiah@tricordadvisors.com   Connect with Laura:   LinkedIn: https://www.linkedin.com/in/laura-lee-59a83610/  Email: Laura@tricordadvisors.com  ---   Information and ideas discussed are general comments and cannot be relied upon as pertaining to your specific situation, do not constitute legal/financial advice, and do not create an attorney-client or fiduciary relationship. Examples discussed are fictional. You should consult your own advisor/attorney and do your own diligence prior to making any decisions. Investments involve risk and the possibility of loss, including the loss of principal. All situations are different, and results may vary. Randy Barkley is a life insurance agent CA license # 0518567 and Jeremiah Lee is a California licensed attorney and is responsible for this communication. Advisory services offered through TriCord Advisors, Inc., a Registered Investment Advisory firm. 

In most scenarios, passing the Series 65 exam is the prerequisite to become licensed as an Investment Advisor Representative.However, there are scenarios where the 66, a CFP, or maybe even a 7 are still applicable.It's important to understand how your practice profile, both today and going forward, impacts the licenses you may need in the RIA model.In this episode (#151) of the Transition To RIA question & answer series, I break down the licensing scenarios to be aware of.Come take a listen!P.S. Prefer video? You can find this entire series in video format on Youtube. Search for the TRANSITION TO RIA channel.Show notes: https://TransitionToRIA.com/what-licenses-do-i-need-for-the-ria-model/About Host: Brad Wales is the founder of Transition To RIA, where he helps financial advisors between $50M and $1B understand everything there is to know about WHY and HOW to transition their practice to the Registered Investment Advisor (RIA) model. Brad has 20+ years of industry experience, including direct RIA related roles in Compliance, Finance and Business Development. He has an MBA and has held the 4, 7, 24, 63 & 65 licenses. The Transition To RIA website (TransitionToRIA.com) has a large catalog of free videos, articles, whitepapers, as well as other resources to help advisors understand the RIA model and how it would apply to their unique circumstances.

Moving to the UK can be an exciting opportunity, but for Americans abroad, it often comes with a harsh reality: the US tax system doesn't stay behind. This episode delivers practical advice for expats navigating dual tax UK and US obligations.    Richard Taylor, Chartered Financial Planner and founder of Plan First Wealth, is joined by Sally Hawkins, Tax Partner at Gunnar Cook, to unpack some of the biggest tax mistakes Americans make when relocating to the UK and why so many expats find themselves caught out by rules they never knew existed. As an expat wealth advisor specializing in cross border financial planning, Richard breaks down what British expat and American abroad needs to know.    From citizenship-based taxation and PFIC reporting requirements to ISA pitfalls, foreign investment restrictions and complex filing obligations, Richard and Sally explain why moving overseas rarely simplifies your tax affairs and how innocent mistakes can quickly become expensive problems.     The conversation also explores the challenges faced by internationally mobile professionals, including equity compensation, founder shares, restricted stock units (RSUs) and why a lack of planning before a move can trigger unexpected tax bills long after arriving in the UK. For anyone weighing expat retirement planning, UK pension treatment, or US pensions across borders, the right financial advice makes all the difference.    Richard and Sally also discuss one of the most overlooked issues for Americans abroad: state tax exposure. They explain why states such as New York and California may continue to claim taxing rights even after you've left the country and what steps can help break those ties properly and the kind of US tax help that protects your international wealth.    Whether you're planning a move to Britain, already living in the UK, or advising internationally mobile professionals, this episode offers practical insights into the tax landmines that can derail even the most carefully planned relocation.    --    Expat Wealth is supported by Plan First Wealth. Plan First Wealth is a Registered Investment Advisor serving fellow expatriates and immigrants living across the US on matters such as retirement planning, investment management, tax planning and non-US asset management.    https://planfirstwealth.com/    --    Expat Wealth is affiliated with Plan First Wealth LLC, an SEC registered investment advisor. The views and opinions expressed in this program are those of the speakers and do not necessarily reflect the views or positions of Plan First Wealth.      Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Plan First Wealth does not provide any tax and/or legal advice and strongly recommends that listeners seek their own advice in these areas.    ABOUT RICHARD:  Richard Taylor is a British expat, dual citizen (UK & US). Originally from Bolton, he now lives in Greenwich, CT, where Plan First Wealth has its head office.  As the firm's leader, Richard launched Taylor & Taylor, now Plan First Wealth, and continues to fuel the firm's growth. Richard is a Chartered Financial Planner (UK – CII) in addition to holding the IMC (CFA UK) and Series 65 (US – FINRA).  Connect with Richard on LinkedIn 

Many retirees wonder whether they can safely spend more money in retirement without jeopardizing their future. Questions about retirement income, withdrawal rates, market volatility, healthcare expenses, and the fear of running out of money often prevent retirees from enjoying the wealth they’ve accumulated.  In this episode, Larry Heller, CFP®, CDFA®, discusses the often-overlooked challenge of transitioning from a saver mindset to a spender mindset in retirement and why many financially secure retirees struggle to enjoy the assets they’ve accumulated. Larry discusses: Why many retirees experience anxiety around spending, even when their financial plan supports it The psychological shift required when moving from accumulation to distribution Common fears about running out of money and how those concerns impact retirement decisions How retirement income planning can help create confidence around spending And more! Connect with Larry Heller:  (631) 248-3600 Schedule a 20-Minute Call Heller Wealth Management LinkedIn: Larry Heller, CFP®, CDFA®, CPA YouTube: Retirement Unlocked with Larry Heller, CFP® Heller Wealth Management is now part of Savant Wealth Management. Savant is a Registered Investment Advisor. This content is provided for informational and educational purposes only and should not be construed as personalized investment advice. Effective March 31, 2026, Heller Wealth Management joined Savant Wealth Management (“Savant”). A copy of Savant's current written disclosure Brochure discussing our advisory services and fees is available at www.savantwealth.com/disclosure-brochures/

Have you noticed a layoff trend among the tech giants and mega corporations? Meta laid off 8,000 employees (nearly 10% of its workforce, reported in May, 2026), Oracle with 21,000 over the course of a year (the firm's latest annual report shows), and of course, WalMart has conducted periodic workforce reductions. This has raised the question, what do individuals in their 50s or 60s do if they find themselves in this unpredictable situation? Can they find a new job? Should they retire early? What are their options? How can one be prepared for this? Matt, John and Isaac discuss what this AI-driven shift means for your career, wealth building, and long-term financial planning.    We also compare the historic performance of major IPOs with the highly anticipated SpaceX public debut last week and we look at what history tells us about market volatility when a new Fed Chair takes the reins.    Topics Discussed: ➡️ Career Transitions Later in Life: Financial planning considerations when facing unexpected  employment changes. ➡️ Managing Financial Risk: The role of debt, liquidity, and diversification during periods of uncertainty. ➡️ Employer Stock Exposure: Evaluating concentration risk within compensation and retirement accounts. ➡️ IPO Trends: A look at historical outcomes of large IPOs and how results can vary widely. ➡️ Market Context: Observations from past market environments and leadership transitions.    Enjoyed the episode? Don't forget to:

Things are going well. Revenue is growing. Opportunities are expanding. And yet, many business owners find themselves asking a new question: Now what? Success creates a different kind of complexity. Taxes become larger. Decisions carry more weight. Relationships evolve. And the systems that helped you build the business may not be the systems that support the next season. In this episode of Building Wealthy Habits, we discuss what happens when growth creates complexity and why simply "getting through it" may no longer be enough. From leadership and delegation to tax planning, succession, and building the right team around you, this conversation explores how successful entrepreneurs can move from survival mode to a more intentional vision for the future. Because growth is about more than building a business. It's about building a life. If you've built something real and you're wondering what comes next, this conversation is for you. #BusinessOwners #Entrepreneurship #BusinessGrowth #FinancialPlanning #Leadership #TaxPlanning 00:00 Your Business Is Growing. Now What? 03:25 Why every new season requires a new mindset 07:58 When success starts creating complexity 09:52 Questions successful business owners should ask 14:46 Moving beyond survival mode 19:53 Building the right team for the next season Connect with Jeremiah: LinkedIn: https://www.linkedin.com/in/jeremiahjlee/ Email: Jeremiah@tricordadvisors.com Connect with Laura: LinkedIn: https://www.linkedin.com/in/laura-lee-59a83610/ Email: Laura@tricordadvisors.com --- Information and ideas discussed are general comments and cannot be relied upon as pertaining to your specific situation, do not constitute legal/financial advice, and do not create an attorney-client or fiduciary relationship. Examples discussed are fictional. You should consult your own advisor/attorney and do your own diligence prior to making any decisions. Investments involve risk and the possibility of loss, including the loss of principal. All situations are different, and results may vary. Randy Barkley is a life insurance agent CA license # 0518567 and Jeremiah Lee is a California licensed attorney and is responsible for this communication. Advisory services offered through TriCord Advisors, Inc., a Registered Investment Advisory firm.

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A key strategy is tax-loss harvesting: selling positions with unrealized losses to offset realized gains. You can repurchase the same security after 30 days under the wash sale rule. For highly appreciated, low-basis positions, gifting shares directly to charity avoids tax entirely for both donor and recipient." } }, { "@type": "Question", "name": "What is FOMO in investing and how does it cause mistakes?", "acceptedAnswer": { "@type": "Answer", "text": "FOMO — fear of missing out — causes investors to hold positions long after a rational sell signal has appeared, because they fear the stock will keep rising after they exit. It also leads investors to hold falling stocks in denial, hoping for a recovery. Both behaviors stem from emotional decision-making rather than objective analysis. Having pre-established valuation criteria and working with an investment committee helps counteract FOMO and its mirror image, paralysis." } } ] } Buying a Stock Is Easy. Knowing When to Sell Is Everything. The Tom Dupree Show  |  Dupree Financial Group  |  dupreefinancial.com  |  859-233-0400 A sound sell discipline is one of the most overlooked parts of retirement investing — every investor knows how to buy a stock, but the moment that determines real wealth, or real loss, is the moment you decide to sell. In this episode of The Tom Dupree Show, Tom Dupree, Lead Advisor Mike Johnson, and in-house analyst James Dupree lay out the sell discipline that has guided Dupree Financial Group’s portfolios for decades. The conversation covers what triggers a trim, what triggers a full exit, and why waiting for someone else to tell you to sell is one of the costliest mistakes in investing. The team works through real examples — from Freddie Mac and WorldCom in the early 2000s to a local company that went up twenty times before going back to zero — and explains the framework behind each decision. Along the way, they address growth stocks, dividend payers, pipeline companies, oil stocks, and AI infrastructure plays, showing how the sell criteria differ by asset type even as the underlying discipline stays consistent. “Buying a stock is easy. Selling a stock — regardless of whether it’s up or down — is a lot harder to do.” — Tom Dupree Why Sell Discipline Matters in Retirement Investing Most investment conversations focus on what to buy. Sell discipline gets far less attention — yet it is the mechanism that actually converts paper gains into real money. As Tom put it on the show, you don’t realize anything until it’s sold. Dividends deliver income along the way, but capital appreciation only benefits you when you act on it. This is exactly the kind of sell discipline retirement investing question that Dupree Financial Group works through with every client. The team described the buy discipline as relatively straightforward: you find a company with a compelling valuation, a durable dividend, or a strong revenue growth story, and you build a position. The sell decision is far more nuanced because it involves not just the company’s fundamentals but also your portfolio’s overall risk profile, tax situation, current market conditions, and where you are in your financial life. Different Assets Require Different Sell Metrics One of the clearest takeaways from this episode is that sell criteria are not universal — they must be tailored to the type of asset you own. Growth stocks and AI companies often lack traditional earnings metrics, so James Dupree explained that the team evaluates them on revenue guidance and gross margin targets. When management demonstrates they can execute — beating their own guidance consistently — the market rewards them with premium valuations. When that execution story breaks down, or when the stock has priced in years of future growth, it is time to take some off the table. Dividend-paying stocks use a different lens: current yield. Tom described a stock the firm bought yielding 6.5% that now yields roughly 3.4% — not because the dividend was cut, but because the price nearly doubled. That yield compression is the market’s way of signaling that the optimism has been priced in. Capturing three years’ worth of dividends in two months of price appreciation is a compelling reason to trim. REITs are evaluated on price-to-adjusted cash flow rather than price-to-earnings. Pipeline companies may be held long past a traditional sell target because their dividend stream is so strong and growing that the income justifies continued ownership. Every sector, and every individual company within a sector, has its own intricacies. Trimming vs. Exiting: The Power of Partial Sales Mike Johnson emphasized that most sell decisions at Dupree Financial are not binary. Rather than exiting a position entirely, the team frequently trims — reducing a holding that has become overweight and redeploying the proceeds into money market as dry powder. That cash position carries real optionality: when a market pullback creates entry points in other names, the firm is already positioned to act. The team recently used this approach with oil stocks. Several integrated oil companies had appreciated 25–30% over the past year even as oil prices remained flat. The underlying businesses are excellent operators, but there is a ceiling on how much an oil company can grow — demand is finite, production costs are finite, and the economics do not allow for the kind of multiple expansion you can see in software or AI. Taking profits there freed up capital for infrastructure and reshoring plays that offer better forward returns at reasonable valuations. Risk Profile Is a Sell Signal Too Tom described a stock the firm added to significantly in April of the prior year — a diesel engine manufacturer that turned out to have strong AI-adjacent tailwinds. The position appreciated considerably. Even though the team still believed in the company, they trimmed because the position had grown so large it changed the portfolio’s overall risk profile. The question was not “do we still like this company?” but “does this concentration match what our clients are paying us to manage?” Similarly, a high-conviction AI holding trimmed in October had briefly become the largest position in the portfolio after rapid price appreciation. The mandate from clients calls for a diversified, income-oriented portfolio — not a concentrated bet on any single name, regardless of how strong the thesis is. The Emotional Traps: FOMO, Greed, and Legacy Holdings Tom shared two memorable examples of how emotions derail sell decisions. The first was a locally well-known company whose stock rose twenty times before collapsing back to zero. Investors who rode it all the way up — and all the way back down — had been told to take some off the table. They refused, emotionally unable to accept that paper gains only become real when you sell. The second example was a widow whose late husband had told her never to sell two particular stocks. She was holding roughly $300,000 in those two positions at a blended yield of about 2.1% — generating around $6,000 per year. A redeployment into holdings yielding 7% would have generated closer to $21,000 annually. The husband’s advice may have been reasonable at the time, but circumstances changed. Her income needs changed. The advice never got updated. Mike also drew the parallel to how individual investors today feel about broad index funds or the S&P 500 — looking at five-year performance charts and feeling unable to reduce exposure because “it might keep going up.” That mindset, he noted, is identical to the emotional pattern that preceded every major market drawdown. The antidote is asking a simple question: do the numbers still work for me if this drops 30% or 40%? The Tax Dimension of Selling In taxable accounts, selling is never just an investment decision — it is also a tax event. Tom and Mike outlined several strategies the firm uses to manage that dimension: Tax-loss harvesting: Selling positions with unrealized losses to offset realized gains elsewhere in the portfolio. The firm deliberately maintains a few losers for this purpose. Wash sale management: After harvesting a loss, you can repurchase the same security after 30 days and still recognize the tax benefit. Charitable gifting of appreciated shares: For long-held, low-basis positions, gifting shares directly to a charity allows the donor to take a deduction at full fair market value while the charity pays no capital gains tax. This also serves as a rebalancing tool — reducing concentration without triggering a taxable event. Stepped-up cost basis: For clients with health concerns, holding a highly appreciated position until death transfers it to heirs at the current market value, eliminating the embedded gain entirely. As the team noted: the right answer always depends on the individual’s situation — the tax shelter of the account, charitable inclinations, estate planning goals, and overall income needs. A Cautionary Tale from Wall Street Tom closed the first segment with a story from early in his career at a large brokerage firm. A prominent New York analyst had a buy list — the “focus list” — that brokers across the country used to build client portfolios. Through the late 1990s bull market, the list performed well, and the analyst became a star. When the market began its steep decline in 2000 through 2002, the analyst issued no sell ratings. He went quiet. Brokers and their clients waited for guidance that never came. Many lost significant sums as a result. The reason, Tom observed, was simple: issuing a sell rating would have been an admission that the original buy call was wrong. Professional reputation got in the way of professional responsibility. It is exactly why Dupree Financial conducts all research in-house, maintains an investment committee where theses are challenged regularly, and retains the authority to move quickly — without waiting for a third-party analyst to give permission. You can hear more episodes like this one on the Tom Dupree Show Radio archive. Frequently Asked Questions About Sell Discipline in Retirement Investing How do you know when to sell a stock? The best sell decisions are driven by valuation, not price alone. Before buying, establish the price or valuation level at which you would be satisfied selling. If the stock exceeds that target, revisit the thesis. For dividend stocks, watch current yield — when it compresses significantly due to price appreciation, the market may be pricing in too much optimism. For growth stocks, monitor revenue guidance and gross margin targets. The key is having objective criteria rather than letting emotion drive the decision. What is a sell discipline in investing? A sell discipline is a systematic, pre-defined set of criteria that guides when to reduce or exit a position — independent of emotion or market noise. It includes valuation targets, yield thresholds, risk profile limits, dividend sustainability checks, and tax considerations. Without a sell discipline, investors tend to hold winners too long out of greed and losers too long out of denial. Should I sell a stock that has doubled in price? Not necessarily — but a doubling in price is a strong signal to re-examine the thesis. If the stock is a dividend payer, check the current yield: a stock that once yielded 6.5% and now yields 3.4% purely because of price appreciation may have priced in years of future growth. In that case, trimming a portion and capturing gains as dry powder for redeployment is a disciplined approach even if the company itself remains strong. How do taxes affect the decision to sell a stock? In taxable accounts, selling at a gain triggers capital gains tax — either short-term (ordinary income rates) or long-term (lower rates, for assets held over one year). A key strategy is tax-loss harvesting: selling positions with unrealized losses to offset realized gains. You can repurchase the same security after 30 days under the wash sale rule. For highly appreciated, low-basis positions, gifting shares directly to charity avoids tax entirely for both donor and recipient. What is FOMO in investing and how does it cause mistakes? FOMO — fear of missing out — causes investors to hold positions long after a rational sell signal has appeared, because they fear the stock will keep rising after they exit. It also leads investors to hold falling stocks in denial, hoping for a recovery. Both behaviors stem from emotional decision-making rather than objective analysis. Having pre-established valuation criteria and working with an investment committee helps counteract FOMO and the paralysis it creates. Schedule a Complimentary Portfolio Review If you’re not sure whether your current portfolio reflects a real sell discipline — or whether you’re holding things longer than you should be — we’ll take a look. No charge. No pressure. Just an honest conversation about what you own and whether it’s working for you. Call: 859-233-0400  |  Visit: dupreefinancial.com Dupree Financial Group is a Registered Investment Advisor (RIA) registered with the Securities and Exchange Commission. Registration does not imply a certain level of skill or training. The information presented on this program is for educational purposes only and does not constitute investment advice, a solicitation, or a recommendation to buy or sell any security. Investing involves risk, including the potential loss of principal. Past performance is not indicative of future results. Please consult with a qualified financial advisor before making any investment decisions. The post When to Sell a Stock: Sell Discipline for Retirement Investors | Dupree Financial appeared first on Dupree Financial.

  The Tom Dupree Show  |  Podcast Show Notes Buying a Stock Is Easy. Knowing When to Sell Is Everything. The Tom Dupree Show  |  Dupree Financial Group  |  dupreefinancial.com  |  859-233-0400 Episode Description Every investor knows how to buy a stock. But the moment that determines real wealth — or real loss — is the moment you decide to sell. In this episode of The Tom Dupree Show, Tom Dupree, Lead Advisor Mike Johnson, and in-house analyst James Dupree lay out the sell discipline that has guided Dupree Financial Group’s portfolios for decades, including what triggers a trim, what triggers a full exit, and why waiting for someone else to tell you to sell is one of the costliest mistakes in investing. The conversation covers the full range of situations investors face: growth stocks valued on revenue and margin guidance, dividend payers evaluated on current yield, bonds that raised red flags in a management meeting, and legacy holdings kept alive by emotional attachment rather than logic. The team also addresses taxes, risk profile management, dry powder strategy, and the very human pull of FOMO that causes investors to ride winners too long — and losers even longer. “Buying a stock is easy. Selling a stock — regardless of whether it’s up or down — is a lot harder to do.” Topics Covered ●  Why sell discipline is the foundation of a sound investment process — not an afterthought ●  Valuing growth stocks on revenue guidance and gross margin targets rather than earnings alone ●  How current yield signals when a dividend stock has priced in too much optimism ●  The role of FOMO and emotional attachment in holding positions too long ●  Real examples: Freddie Mac, WorldCom, Kraft Heinz, and a local company that went up 20x and back to zero ●  Trimming vs. full exits: how partial sales create dry powder for new opportunities ●  Tax-smart selling: harvesting losses, the 30-day wash sale rule, and gifting low-basis shares to charity ●  Risk profile management: why one position becoming overweight is itself a sell signal ●  Why Intel’s 26-year performance history is a cautionary tale about holding without a thesis ●  The danger of relying on a single analyst’s buy list — and getting no sell guidance when markets turn Key Takeaways ●  Have a sell target before you buy. When you purchase a stock, establish the price or valuation level at which you would be satisfied selling. If the stock blows past that target, revisit the thesis — don’t just let momentum make the decision for you. ●  Valuation drives both buying and selling. A great company at the wrong price is still the wrong investment. Conversely, a mediocre company can become a strong buy when it gets cheap enough. Regularly re-evaluate what you own against current valuations, not just original purchase logic. ●  Current yield is a sell signal for income stocks. When a dividend-paying stock rises sharply, its yield compresses. If a stock yielded 6.5% when purchased and now yields 3.4% solely because the price doubled, the market is pricing in a level of optimism worth locking in. Consider trimming. ●  Trimming creates options. Most sell decisions don’t have to be all-or-nothing. Taking partial profits — and parking proceeds in money market as dry powder — gives you the flexibility to redeploy into new opportunities when they appear without being fully out of a strong holding. ●  Watch your risk profile, not just your returns. If one position grows to become the largest holding in the portfolio due to price appreciation alone, that concentration is a risk even if the company is excellent. Rebalancing is not a sign of doubt — it’s disciplined portfolio management. ●  Don’t let outdated advice run your portfolio. Tom shared the story of a widow who refused to sell two stocks because her late husband said never to — leaving her with a 2.1% yield when a redeployment could have generated 7%. Circumstances change. Investment advice should too. ●  Emotions are the enemy of good sell decisions. FOMO causes investors to hold too long on the way up. Denial causes them to hold too long on the way down. An investment committee, a written thesis, and objective valuation metrics help counteract the emotional pull that derails individual investors. ●  Taxes are part of the sell equation. In taxable accounts, realized gains have a cost. Pairing gains with losses (tax-loss harvesting), utilizing the 30-day wash sale rule carefully, and gifting low-basis shares to charity are all legitimate tools to make selling more tax-efficient. About The Tom Dupree Show The Tom Dupree Show is hosted by Tom Dupree, founder of Dupree Financial Group and a 47-year veteran of the investment business. Each episode covers the financial topics that matter most to retirees and those approaching retirement — in plain English, without the Wall Street spin. Dupree Financial Group is a fee-only, fiduciary Registered Investment Advisory firm based in Lexington, Kentucky. The firm manages separately managed accounts focused on income-generating, dividend-paying portfolios — no products sold, no commissions, no conflicts of interest. Past episodes are available at dupreefinancial.com under the Radio tab. Schedule a Complimentary Portfolio Review If you’re not sure whether your current portfolio reflects a real sell discipline — or whether you’re holding things longer than you should be — we’ll take a look. No charge. No pressure. Just an honest conversation about what you own and whether it’s working for you. Call: 859-233-0400  |  Visit: dupreefinancial.com Dupree Financial Group is a Registered Investment Advisor (RIA) registered with the Securities and Exchange Commission. Registration does not imply a certain level of skill or training. The information presented on this program is for educational purposes only and does not constitute investment advice, a solicitation, or a recommendation to buy or sell any security. Investing involves risk, including the potential loss of principal. Past performance is not indicative of future results. Please consult with a qualified financial advisor before making any investment decisions. The post When to Sell A Stock appeared first on Dupree Financial.

“A rising tide lifts all ships” means that when the overall stock market is moving higher, many individual stocks tend to rise along with it. But can the current technology-driven rally continue, or are investors becoming too dependent on a small group of major companies?In this episode, we discuss Kevin Warsh's first interest-rate decision as Federal Reserve chair and why we believe keeping rates unchanged was the right move. Warsh delivered a disciplined message, explaining that the Fed has a plan but does not want to make unnecessary projections about an uncertain future. His decision to move away from traditional forward guidance may be good for long-term investors who want markets to operate on economic fundamentals, but more difficult for short-term traders looking for clues about the Fed's next move. Warsh also announced expert task forces that will examine major issues facing the Fed, including communication, inflation measurement and the quality of economic data.We also discuss Hillary Clinton's surprising support for President Trump's Gaza plan, the difference between headline CPI and core CPI, what fiat currency actually is and whether the broader market can continue benefiting from the strength of technology stocks.Hosted by James Walters, CIMA®, CRPC®, and Brandon West, CPA, co-owners of West & Walters Tax and Wealth Management, a Registered Investment Advisor (RIA) and tax firm based in Carlsbad, California. Our goal is to share market insights, investing tips, tax strategies, and straightforward financial education to help viewers make smarter financial decisions. All Information is educational in its intent and distribution! Please do not consider this personal financial advice. We believe all clients have unique situations and thus require unique advice.

The stock market continues to push higher, but beneath the surface, investors are facing some increasingly difficult questions. Are markets becoming too concentrated? Are mega-cap technology companies becoming too dominant? And could a wave of blockbuster IPOs change investing forever?  Richard Taylor, Chartered Financial Planner and founder of Plan First Wealth, is joined by Brian Dunhill, founder of Dunhill Financial, for another episode of Macro Aggressions to unpack the latest developments shaping markets and investor sentiment.   From rising inflation and higher energy prices to the growing debate around interest rates, Richard and Brian explore why markets remain surprisingly resilient despite a backdrop of economic uncertainty and geopolitical instability.   The conversation also dives into what could become one of the biggest investing stories of the decade. With SpaceX, OpenAI, Anthropic and several major fintech companies reportedly preparing for public listings, Richard and Brian discuss what these IPOs could mean for passive investors, market concentration and the future of the S&P 500 essential financial advice for any expat wealth audience watching their portfolios.   They also examine whether today's markets are showing signs of a bubble, why retail investors have more influence than ever before, and how diversification can help investors navigate an increasingly concentrated market environment, the kind of perspective a seasoned international wealth advisor brings to cross border financial planning.  Finally, the episode explores a trend that directly impacts the Expat Wealth audience: the growing movement of Americans relocating overseas. Richard and Brian discuss the destinations attracting affluent Americans, the opportunities emerging across Europe and South America, and the cross border financial planning mistakes that can create costly problems later on, exactly why expat retirement planning and early advice for expats matters so much before you go.   Whether you're concerned about inflation, curious about the next generation of IPOs, or planning your own move abroad, this episode offers practical insights into the forces shaping both markets and global mobility, with an expat wealth advisor's lens throughout.  --  Expat Wealth is supported by Plan First Wealth. Plan First Wealth is a Registered Investment Advisor serving fellow expatriates and immigrants living across the US on matters such as expat retirement planning, investment management, tax planning and non-US asset management.  https://planfirstwealth.com/  --  Expat Wealth is affiliated with Plan First Wealth LLC, an SEC registered investment advisor. The views and opinions expressed in this program are those of the speakers and do not necessarily reflect the views or positions of Plan First Wealth.      Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Plan First Wealth does not provide any tax and/or legal advice and strongly recommends that listeners seek their own advice in these areas.    ABOUT RICHARD:  Richard Taylor is a British expat, dual citizen (UK & US). Originally from Bolton, he now lives in Greenwich, CT, where Plan First Wealth has its head office.  As the firm's leader, Richard launched Taylor & Taylor, now Plan First Wealth, and continues to fuel the firm's growth. Richard is a Chartered Financial Planner (UK – CII) in addition to holding the IMC (CFA UK) and Series 65 (US – FINRA).  Connect with Richard on LinkedIn 

You worked for decades to build your wealth. But what happens when it's time to stop saving and start using it? Matt Landon, CFP®, and CEO of Semmax Financial Group, and Larry VanLandingham, CFP®, walk through the shift from accumulation to distribution, covering income planning, tax strategy, and the mindset changes most people are not fully prepared for. If you are within five years of retirement or already there, this conversation will help you understand where to start, what to watch for, and how to build a plan that gives you real confidence no matter what the markets are doing.   Key Takeaways: Getting to retirement and getting through it are two very different challenges. The shift from saving to spending is harder than most people expect, and it requires a real plan. Taxes are likely your single largest expense in retirement, and the order you draw from accounts matters. Stress-testing your plan against real historical events gives more durable confidence than any headline can shake. You cannot control market noise or political headlines, but you can control whether you have a plan. If you are handing your advisor statements instead of a strategy, you do not have a plan yet.   Chapters: 0:00 Introduction 0:20 Are You On Track? Defining What That Actually Means 2:09 The Mindset Shift from Saving to Spending 6:19 Building an Income Plan for Retirement 8:57 Tax Strategy and the Sequence of Distributions 17:18 Where to Start 18:31 Stress-Testing Your Plan Against Real Market Events 23:16 Tuning Out the Noise  

When what has been described as a “historic IPO” like SpaceX hits the market, the sheer volume of institutional and retail demand can influence short-term market dynamics. But as more everyday investors rely heavily on ETFs and mutual funds instead of individual stock transactions, how does that shift impact long-term market volatility? In this episode of The Market Moment, the guys break down the mechanics behind Elon Musk's unique approach to the SpaceX rollout, the realities of institutional vs. retail allocations, and a fascinating listener question about the future of funds. They explore how technology and algorithmic trading trigger short-term market swings, why niche ETFs are exploding, and how tools like direct indexing are quietly helping investors transition back to custom, individual stock strategies. They also dive into the shifting economic landscape for the second half of the year, tracking a reported ~30% drop in oil prices, the local economic ripple effects of the World Cup in North America, and what to expect from the Federal Reserve's upcoming meeting under its new leadership. As discussed in the episode, market events such as IPOs and thematic investing strategies can involve significant uncertainty and short-term volatility. Topics Discussed: ➡️ The SpaceX Playbook: Breaking down the unique $135/share pricing, high retail allocations, and how the market reacted post-IPO. ➡️ The “Exodus” to Funds: How the massive shift from individual stocks to ETFs and mutual funds is altering trading dynamics. ➡️ The Tech & Volatility Link: Why modern algorithmic triggers and massive block fund trades create heightened short-term price swings. ➡️ Custom Portfolios & Direct Indexing: How emerging technology allows investors to capture the tax advantages of holding individual names without relying on traditional funds. ➡️ Global Economic Drivers: Navigating the deflationary impacts of falling oil prices and what the Fed's next move means for fixed income. Enjoyed the episode? Don't forget to:

In this third episode of our season-long exploration of Quakers and Money, Peterson Toscano and Diana Yañez turn toward one of the largest and most difficult questions of the series: How do Friends live with integrity inside capitalism? Last month, we explored relational finance and asked whether taking responsibility for our money and institutional assets can lead to deeper integrity and more equitable power-sharing. This month, Peterson names the friction many Friends feel: the sense of being trapped in a massive economic system built on extraction, inequity, colonialism, and environmental harm. Through conversations with Lisa Graustein, Nathan Kleban, David Watt, and Traci Hjelt Sullivan, this episode examines the spiritual dissonance between Quaker values and capitalist structures. We hear about stolen land, inherited wealth, paternalism in charitable giving, the legacy of slavery in Quaker history, and the denial made possible by class and racial privilege. Rather than offering easy answers, Peterson and Diana ask what it means to stay on a journey with truth. If capitalism harms people and the planet, how might Friends move beyond individual purity or denial and toward mutual aid, community wealth-building, repair, and solidarity? In This Episode The Dissonance: Peterson reflects on the gap between Quaker faith and a global economy built on extraction and inequity. Capitalism and White Supremacy: Lisa Graustein names capitalism and white supremacy as forces that keep the here and now from becoming the realm of God. Stolen Land and Reparative Responsibility: Lisa shares the story of New England Yearly Meeting selling property after repudiating the Doctrine of Discovery and raises questions about what should happen to profits from land acquired through colonization. From Charity to Right Relationship: Nathan Kleban of Right Sharing of World Resources challenges paternalistic models of giving and asks who the economy is actually for. Quaker Wealth and Enslavement: David Watt, professor of Quaker studies at Haverford College, reminds us that some early Quaker wealth in Philadelphia was tied to Barbados, sugar plantations, and the labor of enslaved people. The Wealth of Not Having Debt: Traci Hjelt Sullivan expands the definition of ancestral wealth, naming the opportunities that come from beginning adult life without student debt. The Inner Capitalist: Diana reminds us that the Quaker belief in “that of God in everyone” also extends to capitalists, and to the parts of ourselves that continue to benefit from extractive systems. Our Guests Lisa Graustein Lisa Graustein is a Quaker educator, activist, and writer whose work often explores money, power, race, and reparative justice. In this episode, she reflects on inherited wealth, stewardship, and the responsibility to repair harm caused through the accumulation of resources. Nathan Kleban Nathan Kleban works with Right Sharing of World Resources, a Quaker organization that supports women-led economic projects in the Global South. Nathan brings a relational and community-centered lens to economics, asking how people get their needs met and how communities express their gifts outside extractive systems. David Watt David Watt is the Douglas and Dorothy Steere Professor of Quaker Studies at Haverford College. In this episode, he offers historical context about Quaker wealth, including the connections between early Philadelphia Friends, Barbados, sugar plantations, and slavery. Traci Hjelt Sullivan Traci Hjelt Sullivan is the executive director of Right Sharing of World Resources. She brings decades of nonprofit leadership and international experience to her work. In this episode, she reflects on truth, denial, race, class, debt, and the spiritual work of recognizing our own responsibility. Resources and Recommendations QuakerSpeak: “What If Wall Street Were Honest?” https://quakerspeak.com/video/what-if-wall-street-were-honest/ North Carolina Quaker Mark Hulbert has tracked investment advisors since the early 1980s. In this QuakerSpeak video, he talks about how his Quaker background and commitment to integrity led him to ask whether Wall Street advisors were telling the truth. Spent https://playspent.org/ Diana recommends Spent, a free browser-based survival game that places players inside the poverty trap. You begin with $1,000 and try to survive for 30 days while making impossible choices: pay rent, fix the car, buy medicine, or keep the lights on. It offers one way to better understand how expensive it can be to be poor in the current economic system. Caliban and the Witch by Silvia Federici https://pmpress.org/index.php?l=product_detail&p=1575 Diana references Federici's work while discussing the relationship between capitalism, labor control, gendered violence, and colonialism. The Dawn of Everything by David Graeber and David Wengrow https://us.macmillan.com/books/9780374157357/thedawnofeverything/ Diana also points to this book while reflecting on European colonialism, the construction of human hierarchy, and the ideas that shaped the modern world. Organizations Mentioned Right Sharing of World Resources: https://rswr.org/ A Quaker organization that supports women's self-help groups in the Global South through seed grants and relationship-based partnerships. Earth Quaker Action Team: https://eqat.org/ A grassroots Quaker organization that uses nonviolent direct action to challenge systems of economic and environmental injustice. New England Yearly Meeting: https://neym.org/ A regional body of the Religious Society of Friends is mentioned in Lisa Graustein's story about land, reparative responsibility, and the Doctrine of Discovery. Haverford College / David Harrington Watt: https://www.haverford.edu/users/dhwatt David Watt teaches Quaker studies at Haverford College and appears in this episode to discuss Quaker history, wealth, slavery, and capitalism. Listener Voicemails Thank you to John Choe for sharing his reflections and concerns about Quakers, financial discernment, and the role of institutions like Friends Fiduciary. Thank you also to Richard Tindall for his faithful reminder to drink a glass of water first thing in the morning. As summer begins in the Northern Hemisphere, it is a timely invitation to stay hydrated and care for our bodies. Question for Listeners How do you navigate the tension between Quaker values and capitalism? Where do you feel dissonance between your financial life and your spiritual commitments? Share your thoughts: · Voicemail: Call 317-QUAKERS, 317-782-5377 · Email: podcast@friendsjournal.org · Social Media: Respond to us on Facebook, Instagram, or TikTok Sponsors Friends Fiduciary https://friendsfiduciary.org/ Friends Fiduciary unites Quaker values with expert investing. They serve Friends meetings, churches, schools, and organizations through ethical portfolios, shareholder advocacy, and a commitment to justice and sustainability. American Friends Service Committee https://afsc.org/ The American Friends Service Committee is a Quaker organization working with communities worldwide to challenge injustice, meet urgent community needs, and build conditions for lasting peace. AFSC and the Vanguard S.O.S. / Never Vanguard campaign AFSC announcement: https://afsc.org/newsroom/afsc-joins-vanguard-sos-campaign-fossil-fuel-divestment Never Vanguard pledge: https://eqat.org/never-vanguard/ AFSC has joined with Earth Quaker Action Team in the Vanguard S.O.S. campaign, asking Friends to boycott and divest from Vanguard until it stops funding fossil fuel projects and takes climate justice into account. Disclaimers Quakers Today is a project of Friends Publishing Corporation. This season is sponsored by Friends Fiduciary and the American Friends Service Committee. This podcast is for informational and educational purposes only and does not constitute investment, legal, or tax advice. Listening does not create an advisory relationship. Friends Fiduciary is a sponsor of this podcast. Sponsorship does not constitute an endorsement, and Quakers Today does not receive compensation based on listener investment decisions. Diana Gisel Yañez is an Investment Advisor Representative of Natural Investments PBLLC. Natural Investments is an independent Registered Investment Advisor. Quakers Today and Friends Journal are not a registered entity and are not an affiliate or subsidiary of Natural Investments. See the Natural Investments Disclosures and Disclaimers and Form CRS: https://naturalinvestments.com/disclosures-disclaimers/

The Tom Dupree Show  |  Podcast Show Notes The Nike Cautionary Tale: What Happens When Leadership Loses Touch With Its Customers The Tom Dupree Show  |  Dupree Financial Group  |  dupreefinancial.com  |  859-233-0400 Episode Description Nike spent decades building one of the most recognized brands on the planet — the Swoosh, the Air Jordan, high-heat basketball shoes that consumers lined up for, and a presence in every major sporting goods retailer in the world. Then, in 2020, the company handed its future to a CEO who believed physical retail was a dying model, and what followed became a study in how quickly a great company can lose its way. Tom Dupree and analyst Michael Dawahare walk through the full arc of Nike’s rise and decline — from its origins in performance athletics to a stock that traded at $180 and has since fallen to around $44. They examine the strategic decisions that caused the damage, the board failures that let it compound, and what retirement investors can take directly from the story. “You cannot put your own lenses on the lenses of your customer — you have to ask how they see the world, not how you see it.” Topics Covered • How Nike’s origins in performance athletics shaped the brand — and why that foundation was eventually abandoned • The 2020 appointment of CEO John Donahoe and the pivot toward a direct-to-consumer distribution model • Why walking away from wholesale partners like Foot Locker and specialty running stores was a catastrophic miscalculation • How competitors — HOKA, On Cloud, New Balance, ASICS, and Brooks — filled the shelf space Nike gave away • The role of groupthink and board failure in allowing the strategy to continue long after warning signs appeared • The Jordan Brand challenge: what happens when a generational endorsement ages out with no succession plan • Nike’s attempted course correction, the arrival of new CEO Elliott Hill, and why recovery is proving harder than expected • The parallel between Nike’s story and retirement portfolio management: proven strategy, fundamentals, and the danger of chasing new models Key Takeaways • Know what your portfolio is actually built on. The moment Nike shifted focus from technical performance products, competitors filled the gap. The same risk applies when an investment strategy drifts from its core principles. • Never surrender your shelf space. Giving up distribution — or abandoning a proven income strategy during volatility — is almost impossible to reverse. Re-entry is rarely seamless. • Leadership bias is one of the most expensive mistakes in business. Donahoe was an outstanding digital executive who ran a physical consumer company through a digital lens. Bias in a CEO — or a portfolio manager — costs real money. • Boards exist to prevent catastrophic decisions. Most don’t. Nike’s board approved a strategy that effectively fired its wholesale customer base. Institutional oversight is only as good as the willingness to ask uncomfortable questions. • Consumer loyalty, once transferred, is remarkably sticky. Runners who switched to HOKA or On Cloud did not come back. When a customer finds something they prefer, you may have lost them for good. • Recovery takes far longer than the damage itself. Nearly two years into Elliott Hill’s tenure, Nike still cannot get traction. A few years of bad decisions can take a decade to undo — in business and in retirement portfolios. • Proven strategies deserve skepticism about replacement, not abandonment. When a new model sounds compelling, always ask: What is the process? Has it been tested? And who benefits when you believe in it? About The Tom Dupree Show The Tom Dupree Show is hosted by Tom Dupree, founder of Dupree Financial Group and a 47-year veteran of the investment business. Each episode covers the financial topics that matter most to retirees and those approaching retirement — in plain English, without the Wall Street spin. Dupree Financial Group is a fee-only, fiduciary Registered Investment Advisory firm based in Lexington, Kentucky. The firm manages separately managed accounts focused on income-generating, dividend-paying portfolios — no products sold, no commissions, no conflicts of interest. Past episodes are available at dupreefinancial.com under the Radio tab. Schedule a Complimentary Portfolio Review If you’re not sure whether your portfolio is built on the same principles Nike abandoned — proven strategy, staying close to what works, and never losing sight of the fundamentals — we’ll take a look. No charge. No pressure. Just an honest conversation about what you own and whether it’s working for you. Call: 859-233-0400  |  Visit: dupreefinancial.com Dupree Financial Group is a Registered Investment Adviser (RIA) registered with the U.S. Securities and Exchange Commission. Registration does not imply a certain level of skill or training. The information presented on this podcast is for educational purposes only and should not be construed as personalized investment advice. Past performance is not indicative of future results. Investing involves risk, including the potential loss of principal. Please consult a qualified financial professional before making investment decisions. The post Nike’s Fall: Leadership Lessons for Retirement Investors appeared first on Dupree Financial.

Where Did My Returns Go? The Cost of Mutual Funds and Annuities The Tom Dupree Show | Dupree Financial Group | dupreefinancial.com | 859-233-0400 Episode Description Time Stamps 00:00 Keep Truckin Intro 01:31 Show Opens Fees 03:22 Mutual Fund Basics 05:46 Share Classes Loads 07:14 Portfolio Fee Transparency 10:05 Tax Drag Distributions 14:01 Constraints Versus Drift 16:29 Managed Accounts Example 21:16 Break Segment Promo 22:05 Inflation Market Pinch 26:09 Mutual Fund Fee Reality 26:38 Annuities Insurance Wrapper 27:27 Index Annuity Caps 30:20 Fixed Annuity Tradeoffs 32:27 Immediate Annuity Inflation 37:32 Commissions And Incentives 40:29 Counterparty Risk Warning 44:30 Final Portfolio Checkup Most investors look at their mutual fund statement, see a return number, and assume that’s the whole story. It isn’t. Fees are deducted before that return ever reaches your statement, which means you could be paying anywhere from a fraction of a percent to well over 1.5% a year without it ever showing up as a line item. In this episode, Tom Dupree and Mike Johnson explain exactly how those costs are built into your returns — and why two people holding what looks like the “same” mutual fund can actually be paying very different amounts. The conversation also digs into a real-world example involving a major fund family, where a change to share class minimums forced a wave of investors to realize years of embedded capital gains — and a hefty tax bill — all at once. From there, Tom and Mike shift to annuities, breaking down how index annuities, fixed annuities, and immediate annuities are each priced, where the commissions come from, and why the financial strength of the insurance company behind the contract matters just as much as the product itself. Whether you’re holding mutual funds inside a 401(k), an IRA, or a taxable account — or you’ve been pitched an annuity recently — this episode gives you the questions to ask before you invest another dollar. “If you don’t know what you own in your portfolio — and why — that’s the first thing worth fixing.” Topics Covered How mutual fund fees get absorbed into your net return instead of appearing as a separate line item The difference between A shares, C shares, and institutional share classes — and why the same fund can cost twice as much depending on which one you hold What a 12b-1 fee is and who actually receives it Why actively managed funds tend to carry higher expense ratios than index funds How capital gains distributions can create a tax bill on gains you never benefited from A real example of how a fund family’s share class changes forced unexpected tax consequences on shareholders Portfolio constraints versus portfolio drift, and why both can work against you Index annuities, fixed annuities, and immediate annuities — how each is structured and where the cost is hidden Why surrender charges exist and how they relate to commissions Counterparty risk: why the insurance company’s own investments matter to your guarantee Key Takeaways Your net return already has the fee built in. Mutual fund statements show what’s left after fees are deducted — not a separate fee line — so two investors holding what looks like the same fund can actually be paying very different amounts depending on share class. Share class matters more than most investors realize. One example discussed in the episode showed a global fund charging roughly 0.8% on its A shares versus 1.8% on its C shares — more than double, for the same underlying portfolio. Tax inefficiency can be just as costly as the stated fee. Because mutual funds are pooled investments, other shareholders’ buying and selling can trigger capital gains distributions you owe taxes on — even if you never participated in those gains. A fund’s holdings can drift far from what you originally bought. Without firm constraints, a manager’s strategy can shift significantly over a few years, leaving you holding something very different from what your original research showed. Annuities are mutual funds wrapped inside an insurance contract — and you pay for both layers. Whether it’s an index annuity’s capped participation rate or a variable annuity’s rider fees, the cost is built into the structure even when it isn’t itemized. Surrender charges exist largely to recoup the seller’s commission. Annuity commissions can run as high as 6–8%, and the multi-year surrender schedule helps the insurance company recover that cost if you withdraw early. The insurance company’s financial strength is part of what you’re buying. An annuity’s guarantee is only as good as the company behind it — and recent industry reporting has noted that some insurers are taking on more investment risk, including exposure to private credit, than before the 2008 financial crisis. Transparency is something you’re entitled to ask for. Whether it’s a mutual fund, an annuity, or a managed account, you have the right to know exactly what you own, what it costs, and where your income is coming from. About The Tom Dupree Show The Tom Dupree Show is hosted by Tom Dupree, founder of Dupree Financial Group and a 47-year veteran of the investment business. Each episode covers the financial topics that matter most to retirees and those approaching retirement — in plain English, without the Wall Street spin. Dupree Financial Group is a fee-only, fiduciary Registered Investment Advisory firm based in Lexington, Kentucky. The firm manages separately managed accounts focused on income-generating, dividend-paying portfolios — no products sold, no commissions, no conflicts of interest. Past episodes are available at dupreefinancial.com under the Podcast tab. Schedule a Complimentary Portfolio Review If you’re not sure whether the funds or annuities in your portfolio are quietly costing you more than you realize, we’ll take a look. No charge. No pressure. Just an honest conversation about what you own and whether it’s working for you. Call: 859-233-0400 | Visit: dupreefinancial.com Dupree Financial Group is a fee-only, fiduciary, SEC-registered Registered Investment Advisor. The information presented in this podcast is for informational and educational purposes only and should not be considered a solicitation for the purchase or sale of any security. Past performance is not indicative of future results. Investing involves risk, including possible loss of principal. Please consult with a qualified professional before making any financial decisions.The post Hidden Fees in Mutual Funds & Annuities | The Tom Dupree Show appeared first on Dupree Financial.

There is no golden goose when it comes to affiliation models in the wealth management industry.Wirehouses, independent broker-dealers, RIAs all have pros and cons.Anyone who suggests otherwise is either ill-informed or being disingenuous.So when considering pathways for your advisory practice, it's important to understand how those pros and cons compare.In this episode (#150) of the Transition To RIA question & answer series, I explain the pros and cons of the RIA model.Come take a listen!P.S. Prefer video? You can find this entire series in video format on Youtube. Search for the TRANSITION TO RIA channel.Show notes: https://TransitionToRIA.com/what-are-the-pros-and-cons-of-the-ria-model/About Host: Brad Wales is the founder of Transition To RIA, where he helps financial advisors between $50M and $1B understand everything there is to know about WHY and HOW to transition their practice to the Registered Investment Advisor (RIA) model. Brad has 20+ years of industry experience, including direct RIA related roles in Compliance, Finance and Business Development. He has an MBA and has held the 4, 7, 24, 63 & 65 licenses. The Transition To RIA website (TransitionToRIA.com) has a large catalog of free videos, articles, whitepapers, as well as other resources to help advisors understand the RIA model and how it would apply to their unique circumstances.

More Americans are leaving the United States than at any point in recent memory, and Portugal has become one of the most searched destinations. But what's driving the move, and what happens once you get there?   Richard Taylor is joined by John McNertney, Founder of Green Ocean Global Advisors, to unpack the realities of relocating from the US to Portugal. John has lived the journey himself. After moving from San Francisco to Lisbon during the pandemic, he now helps American expats, retirees, and internationally minded families navigate cross-border financial planning, US expat taxes, residency options, and long-term wealth management while living abroad.   Together, Richard and John explore why Portugal has become such a hotspot for Americans, what's changed politically and financially in recent years, and why so many expats are now thinking seriously about building a life and a financial foundation outside the United States.   The conversation gets into the practical detail that most people miss before they move: the difference between the Portugal Golden Visa and the D7 visa, the financial traps Americans fall into with PFICs, trusts, IRAs, and cross-border investment structures, and why proper planning before the move can save years of stress and significant money later on.   Richard and John also explore the emotional reality of expat life, including integration, language learning, culture shock, and why living abroad fundamentally changes the way people think about money, opportunity, and freedom.   Whether you're seriously considering a move to Portugal, researching second residency options, or simply curious why so many Americans are looking overseas right now, this episode offers a grounded and honest look at the opportunities and challenges of modern expat life. --  Expat Wealth is supported by Plan First Wealth. Plan First Wealth is a Registered Investment Advisor serving fellow expatriates and immigrants living across the US on matters such as retirement planning, investment management, tax planning and non-US asset management.   https://planfirstwealth.com/ -- Expat Wealth is affiliated with Plan First Wealth LLC, an SEC registered investment advisor. The views and opinions expressed in this program are those of the speakers and do not necessarily reflect the views or positions of Plan First Wealth.    Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Plan First Wealth does not provide any tax and/or legal advice and strongly recommends that listeners seek their own advice in these areas.   ABOUT RICHARD: Richard Taylor is a British expat, dual citizen (UK & US). Originally from Bolton, he now lives in Greenwich, CT, where Plan First Wealth has its head office. As the firm's leader, Richard launched Taylor & Taylor, now Plan First Wealth, and continues to fuel the firm's growth. Richard is a Chartered Financial Planner (UK – CII) in addition to holding the IMC (CFA UK) and Series 65 (US – FINRA). Connect with Richard on LinkedIn

Most small business owners spend almost all of their time working in the business, but not enough time working on the business.In this episode, we sit down with Sam Slater, a former Google executive with over a decade of experience in design strategy, to talk about how entrepreneurs and solo-preneurs can get clear, identify the real problem, and create a plan for moving forward.Sam helps small businesses turn chaos into a clear, linear process by asking the right questions: who, what, why, and how. Through his in-person workshops and Clarity Clinic, he helps business owners address challenges around growth, client communication, client retention, operations, and more.We also talk about why business owners often struggle to step back, prioritize, and address problems head on, and how a 30, 60, 90 day roadmap can help create real momentum.Learn more about Sam and his work:Sam Slater Consulting samslaterconsulting.comInstagram: @the_clarityclinicHosted by James Walters, CIMA®, CRPC®, and Brandon West, CPA, co-owners of West & Walters Tax and Wealth Management, a Registered Investment Advisor (RIA) and tax firm based in Carlsbad, California. Our goal is to share market insights, investing tips, tax strategies, and straightforward financial education to help viewers make smarter financial decisions. All Information is educational in its intent and distribution! Please do not consider this personal financial advice. We believe all clients have unique situations and thus require unique advice.

Losing a spouse is one of life's most difficult experiences, emotionally and financially. Many retirees are surprised to learn that widowhood can also create significant tax and retirement-planning challenges that may affect income, Medicare premiums, estate plans, and long-term financial security.  In this episode, Larry Heller, CFP®, CDFA®, explains why the loss of a spouse can create unexpected financial challenges for retirees, including higher taxes, rising Medicare premiums, and changes to retirement income. He discusses how required minimum distributions, Social Security survivor benefits, and IRMAA thresholds can affect a surviving spouse's long-term financial picture. Larry also shares proactive planning strategies couples can consider before widowhood, including Roth conversions, tax-bracket management, beneficiary reviews, and estate planning updates. Through real-life examples, he highlights how thoughtful preparation can help surviving spouses avoid costly mistakes and navigate a difficult transition with greater confidence and clarity. What to expect: Why surviving spouses often face higher taxes after the loss of a spouse How the widow and widower tax penalty impacts retirement income The effect of IRMAA and rising Medicare premiums for single filers How required minimum distributions can create larger future tax burdens And more! Connect with Larry Heller:  (631) 248-3600 Schedule a 20-Minute Call Heller Wealth Management LinkedIn: Larry Heller, CFP®, CDFA®, CPA YouTube: Retirement Unlocked with Larry Heller, CFP® Heller Wealth Management is now part of Savant Wealth Management. Savant is a Registered Investment Advisor. This content is provided for informational and educational purposes only and should not be construed as personalized investment advice. Effective March 31, 2026, Heller Wealth Management joined Savant Wealth Management (“Savant”). A copy of Savant's current written disclosure Brochure discussing our advisory services and fees is available at www.savantwealth.com/disclosure-brochures/

In Episode 302 of The Market Moment, Matt, Eli, and Isaac tackle the biggest financial news of the week: the highly anticipated SpaceX IPO. (And yes, it's also Annuity Awareness Month!) . We discuss the motivations behind this massive public offering and debate whether it's truly about raising capital or just creating a liquidity event for early investors. With almost every major bank backing the deal and everyday investors getting unprecedented access, we break down the math, the potential risks, and why it's crucial to look past the hype. Plus, we look at how other mega IPOs have historically performed after their first year. Key Takeaways ➡️ SpaceX Valuation: The company is coming to market with a staggering valuation of roughly $1.75 to $1.8 trillion. ➡️Retail Investor Access: Custodians like Robinhood, Fidelity, and Schwab are offering expanded access for retail investors, allocating around 30% of shares to retail investors. ➡️Index Inclusion Changes: Early plans to include SpaceX in the S&P 500 index just 10 days post-IPO have been reverted to the standard one-year waiting period. ➡️Funding Shortfalls: To bring the company to market, SpaceX needs to raise a total deal size of $86 billion, but there is a reported shortfall of around $28 billion. ➡️Historical Warning: Historically, mega IPOs (like Rivian and Uber) have seen an average drop of 28% twelve months post-IPO, emphasizing the need for a long-term investment horizon rather than expecting quick wins. 04:19 - Retail Access & Valuation Checks 09:33 - Index Rule Reversals & The Funding 16:22 - Historical Mega IPO Performance & Risk Management Linked Videos: https://www.youtube.com/live/vrX6fhBL3bM?si=AaYRNdlUXTmcF9EX https://www.blindsquirrelmacro.com/p/the-physics-of-spacex Enjoyed the episode? Don't forget to:

THE TOM DUPREE SHOW  |  PODCAST SHOW NOTES I’m 55 and Behind on Retirement — Here’s What You Can Actually Do About It The Tom Dupree Show  |  Dupree Financial Group  |  dupreefinancial.com  |  859-233-0400 Episode Description Turning 55 can trigger some hard questions about retirement — not regrets about the past, but real concerns about the present. Tom Dupree and Lead Advisor Mike Johnson tackle one of the most common questions they hear from new clients: What do you actually do when you feel behind? This episode lays out a practical, honest framework for evaluating where you stand, calculating how much income your portfolio needs to produce, and identifying the specific actions that can still make a real difference in the next ten years. The conversation covers the math behind 401(k) catch-up contributions, the income gap calculation that determines whether your retirement plan actually works, why your expenses matter more than your portfolio balance, and the critical difference between volatility as a friend during accumulation versus a threat during withdrawals. Real client examples ground the discussion — including retirees who thrived on $400,000 and others who struggled with far more. The episode closes with a clear message for anyone in their mid-50s who has been putting off this conversation: the opportunity is still real, the tools are available, and it starts with one step. At 55, you might feel like you’re late getting started — but you still have a lot of opportunity to build real wealth and retire the way that you want. Topics Covered The income gap: How to calculate the difference between your fixed income sources and what you’ll actually need to spend in retirement 401(k) catch-up contributions: The 2026 limits for savers over 50, including the super catch-up provision for ages 60–63 Real accumulation scenarios: What maxing out a 401(k) at a 6% return actually produces over 10 years — for one earner and two Expenses as the key variable: Why what you spend in retirement matters more than how much you’ve saved Wealth vs. riches: Why clients with $400,000 sometimes retire better than those with $2 million Sequence-of-returns risk: How early losses in retirement can permanently damage a portfolio — and why income investing helps avoid that trap The wealth paradox: Why taking on more risk when you’re close to your target number can do more harm than good Social Security strategy: Age 62 vs. full retirement age vs. 70 — and how to think about spousal benefits and break-even timing In-service rollovers: How to start building an income-producing portfolio while you’re still working and contributing How to prepare for your first meeting: What to bring, what to expect, and how the planning conversation actually works Key Takeaways Your expenses determine everything. The question isn’t how much you’ve saved — it’s whether what you have can cover the gap between your fixed income and your actual spending. Get clear on your expenses before anything else. Age 55 is still a strong position. You’re likely near peak earnings, kids may be off the payroll, and 401(k) catch-up rules let you contribute up to $32,500 a year — or $35,750 between ages 60 and 63. Ten years of disciplined saving can still produce meaningful income. Don’t ignore the employer match. Contributing at least enough to capture your employer’s match is a 100% guaranteed return from day one. There is no simpler, more powerful first move. Volatility is your friend while you’re accumulating — not when you’re withdrawing. During your working years, market swings let you buy more at lower prices. In retirement, a bad year early can force you to sell assets at the worst possible time. That’s the sequence-of-returns risk that ends retirement plans. Income portfolios solve a problem, growth portfolios don’t. When your portfolio pays you dividends and income, you don’t have to sell holdings to fund your lifestyle during down markets. That changes the entire risk equation. The wealth paradox: more isn’t always better if it requires more risk. If you already have the number that funds the retirement you want, adding risk for more upside isn’t rational — the downside threatens the entire plan, while the upside is just gravy. Social Security is a strategic asset, not just a check. Delaying from 62 to 70 can dramatically increase your lifetime benefit. The break-even point is roughly age 82, and a spousal benefit strategy can add another layer of optimization. You can start building income while you’re still working. An in-service rollover at age 59½ lets you move funds from your 401(k) into an IRA where they can be invested for income — so the income engine is already running when you retire. About The Tom Dupree Show The Tom Dupree Show is hosted by Tom Dupree, founder of Dupree Financial Group and a 47-year veteran of the investment business. Each episode covers the financial topics that matter most to retirees and those approaching retirement — in plain English, without the Wall Street spin. Dupree Financial Group is a fee-only, fiduciary Registered Investment Advisory firm based in Lexington, Kentucky. The firm manages separately managed accounts focused on income-generating, dividend-paying portfolios — no products sold, no commissions, no conflicts of interest. Past episodes are available at dupreefinancial.com under the Radio tab. Schedule a Complimentary Portfolio Review If you’re not sure whether your current savings and investments can actually close the gap between what you’ll have and what you’ll need in retirement, we’ll take a look. No charge. No pressure. Just an honest conversation about what you own and whether it’s working for you. Call:  859-233-0400   |   Visit:  dupreefinancial.com REGULATORY DISCLAIMER Dupree Financial Group is a Registered Investment Adviser (RIA) registered with the U.S. Securities and Exchange Commission. Registration does not imply a certain level of skill or training. The information presented on this program is for educational purposes only and does not constitute investment advice, a solicitation, or an offer to buy or sell any security. Past performance is not indicative of future results. Investing involves risk, including the possible loss of principal. Listeners should consult with a qualified financial professional before making any investment decisions. The post I’m 55 and Behind on Retirement — Here’s What You Can Actually Do About It appeared first on Dupree Financial.

The AI Build-Out Is Real — And It’s Reshaping How We Invest for Retirement THE TOM DUPREE SHOW  |  PODCAST SHOW NOTES The AI Build-Out Is Real — And It's Reshaping How We Invest for Retirement The Tom Dupree Show  |  Dupree Financial Group  |  dupreefinancial.com  |  859-233-0400  |  Air Date: June 6, 2026 Episode Description Something significant is happening in the markets, and it goes well beyond the daily headlines. On this episode of The Tom Dupree Show, host Tom Dupree sits down with in-house analysts James Dupree and Michael Dawahare to examine the accelerating AI infrastructure build-out — and what it actually means for investors who are at or approaching retirement. The conversation covers the bottleneck stocks driving extraordinary gains in data centers and memory chips, Canada's surprise $1 trillion infrastructure pivot, and why software companies like Snowflake and ServiceNow are proving that AI complements rather than kills their business models. The team also addresses the ongoing Iran conflict, what oil futures markets are signaling, and why the sequence of returns — not average returns — is the number that retirement investors should be watching most closely. “Markets don't drift up — conviction is what moves them higher. Right now, the conviction is building around AI infrastructure, and the fundamentals are finally starting to catch up with the story.” Topics Covered AI infrastructure bull case — why the fundamentals are finally catching up with the story Micron, data centers, and the bottleneck theme — the stocks supplying scarce components for the AI build-out Jensen Huang's public endorsement of Marvell Technology — what a declaration like that signals to institutional investors Agentic AI explained — what it means for your phone, your business, and your portfolio Canada's $1 trillion infrastructure pivot — global validation of the AI build-out thesis from an unlikely source Software stocks proving their staying power — how ServiceNow and Snowflake are showing AI and software can coexist How AI is already driving revenue gains — consumer companies reporting explosive results from targeted AI marketing The Iran conflict and oil futures — what prediction markets and WTI pricing are signaling about resolution Sequence-of-returns risk in retirement — why when your portfolio loses matters more than how much it earns on average Dupree Financial Group's in-house research approach — knowing what you own and why, not just riding an index Key Takeaways The AI build-out thesis is getting real-world validation.  PMI data hit a four-year high this week, suggesting genuine economic activity is accelerating alongside AI infrastructure investment — not just market narrative. Bottleneck stocks carry both opportunity and serious risk.  Companies supplying scarce components for data centers have posted extraordinary gains, but volatility cuts both ways. Position sizing and portfolio context matter. Software isn't dead — it's adapting.  Snowflake and ServiceNow are reporting earnings that prove their platforms work alongside AI tools, not against them. Productivity gains, not replacement, is the emerging story. Global capital is aligning behind AI infrastructure.  Canada's sharp $1 trillion policy reversal covering energy, data centers, and defense adds significant international weight to the same thesis driving U.S. markets. How AI gets monetized is still being figured out.  Business-to-business subscriptions and API-based usage models are the most likely path forward, but valuations remain stretched until earnings consistently catch up. Sequence-of-returns risk is retirement's hidden danger.  A portfolio drop in year one of withdrawals — even if markets recover later — can permanently reduce the income your portfolio generates. Dividend-focused portfolios are built to absorb that risk. In-house research is how you truly know what you own.  Dupree Financial Group's analysts study these sectors every day so clients hold positions they understand — not just exposure to the broadest index available. The Iran situation is complex, but markets are pricing in a resolution.  Oil futures for July through September are trading in the $70–$80 range, suggesting the futures market expects the conflict to ease — though the IRGC's fractured structure makes certainty impossible. About The Tom Dupree Show The Tom Dupree Show is hosted by Tom Dupree, founder of Dupree Financial Group and a 47-year veteran of the investment business. Each episode covers the financial topics that matter most to retirees and those approaching retirement — in plain English, without the Wall Street spin. Dupree Financial Group is a fee-only, fiduciary Registered Investment Advisory firm based in Lexington, Kentucky. The firm manages separately managed accounts focused on income-generating, dividend-paying portfolios — no products sold, no commissions, no conflicts of interest. Past episodes are available at  dupreefinancial.com  under the Radio tab. Schedule a Complimentary Portfolio Review If you're not sure whether your retirement portfolio is built to generate income through market turbulence — or if you're just riding an index fund hoping for the best — we'll take a look. No charge. No pressure. Just an honest conversation about what you own and whether it's working for you. Call:  859-233-0400   |   Visit:  dupreefinancial.com Dupree Financial Group is a Registered Investment Adviser (RIA) registered with the U.S. Securities and Exchange Commission. Registration does not imply a certain level of skill or training. The information presented on The Tom Dupree Show is for educational and informational purposes only and should not be construed as personalized investment, tax, or legal advice. Past performance is not indicative of future results. Investing involves risk, including the possible loss of principal. Please consult a qualified financial professional before making any investment decisions. The post AI Infrastructure Stocks & Your Retirement Portfolio appeared first on Dupree Financial.

The stock market had a rough week, with all three major indexes finishing lower despite a stronger-than-expected U.S. jobs report. The economy added 172,000 jobs, unemployment remained steady at 4.3%, and investors immediately began reassessing the outlook for interest rates. Why would a strong jobs report hurt stocks? In this video, James explains how stronger employment can keep inflation concerns alive and increase the likelihood that interest rates stay higher for longer. We also discuss the recent rise in the 10-year Treasury yield, why markets are now pricing in a greater chance of higher rates, and what that means for investors.We also cover the latest developments surrounding the Strait of Hormuz and the conflict involving Iran, why the economy and the stock market are not the same thing, and how concerns about inflation and stagflation continue to impact investor sentiment.Finally, we look ahead to what could become three of the biggest IPOs in history: SpaceX, OpenAI, and Anthropic. If these companies join the Nasdaq, index funds may be forced to buy shares, potentially creating significant shifts in market flows and valuations.Hosted by James Walters, CIMA®, CRPC®, and Brandon West, CPA, co-owners of West & Walters Tax and Wealth Management, a Registered Investment Advisor (RIA) and tax firm based in Carlsbad, California. Our goal is to share market insights, investing tips, tax strategies, and straightforward financial education to help viewers make smarter financial decisions. All Information is educational in its intent and distribution! Please do not consider this personal financial advice. We believe all clients have unique situations and thus require unique advice.

Markets continue pushing higher, AI stocks are still surging, and now SpaceX is preparing for what could become one of the biggest IPOs in history. But beneath the surface, Richard and James unpack why some of today's biggest market stories may be creating risks passive investors aren't paying enough attention to.  In this episode of From the Trenches, Richard Taylor and James Boyle break down the growing concerns around index inclusion rules, passive investing, and why companies like SpaceX could fundamentally reshape how retail investors interact with the market. They also discuss rising oil prices, inflation pressure, interest rates, and whether America's global dominance is beginning to shift.  The conversation then turns to one of the biggest issues currently facing British expats in America: UK pensions. Richard and James explain what a SIPP actually is, why so many expats leave old pensions untouched for decades, and the hidden costs, tax complications, and missed opportunities that can follow. They also unpack the upcoming UK inheritance tax changes on pensions and why these rules could dramatically change retirement planning for UK nationals living in the US.  Finally, the episode explores the fascinating “Pig in the Python” demographic theory and why baby boomers may be unintentionally reshaping housing markets, politics, retirement systems, and economic growth for younger generations.    --    Expat Wealth is supported by Plan First Wealth. Plan First Wealth is a Registered Investment Advisor serving fellow expatriates and immigrants living across the US on matters such as retirement planning, investment management, tax planning and non-US asset management.    https://planfirstwealth.com/    --    Expat Wealth is affiliated with Plan First Wealth LLC, an SEC registered investment advisor. The views and opinions expressed in this program are those of the speakers and do not necessarily reflect the views or positions of Plan First Wealth.      Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Plan First Wealth does not provide any tax and/or legal advice and strongly recommends that listeners seek their own advice in these areas. 

In this milestone 200th episode of Retirement Unlocked, Larry Heller reflects on the journey of building the podcast from an audio-only show into a growing multimedia platform focused on helping people make smarter retirement decisions. Joined by co-host Bill Tucker, Larry shares why the podcast was created, the lessons learned over 200 episodes, and how financial education can truly impact people's lives.  In this episode, Larry explores how he has always aimed to make financial planning more understandable as he continues to stay ahead of constant changes in tax laws, and retirement strategies. He expresses gratitude to his listeners, clients, and guests who have helped the podcast grow to nearly 50,000 YouTube views as it continues into its next chapter.  Larry Heller, CFP®, CDFA®, discusses: How Retirement Unlocked has changed over the years Why retirement planning is more about cash flow than net worth How taxes can become more complicated in retirement Why financial planning should evolve as life changes And more! Connect with Larry Heller:  (631) 248-3600 Schedule a 20-Minute Call Heller Wealth Management LinkedIn: Larry Heller, CFP®, CDFA®, CPA YouTube: Retirement Unlocked with Larry Heller, CFP® Heller Wealth Management is now part of Savant Wealth Management. Savant is a Registered Investment Advisor. This content is provided for informational and educational purposes only and should not be construed as personalized investment advice. Effective March 31, 2026, Heller Wealth Management joined Savant Wealth Management (“Savant”). A copy of Savant's current written disclosure Brochure discussing our advisory services and fees is available at www.savantwealth.com/disclosure-brochures/

Retirement planning is not about retirement.That's the provocation David opens with — and he means it. This episode isn't another checklist. It's a ground-up rethink of what the 5-to-10-year sprint before retirement actually demands: emotionally, philosophically, and financially.Starting with a question no financial podcast has the nerve to ask — is retirement even a biblical concept? — David works through everything from the psychology of stopping work to the hard mechanics of income portfolios, tax strategy, and the risks that blow up otherwise solid plans.If you've been coasting toward retirement on autopilot, this episode is the alarm clock.In This Episode0:00 — Cold OpenWhy the conventional framing of retirement is wrong, and what this episode is actually going to cover.~3:00 — Is Retirement Even a Biblical Concept?The word never appears in Scripture. The one exception in Numbers 8, what the parables actually teach about accumulation, and why the biblical model looks more like a pivot than a finish line.~9:00 — The Behavioral Trap: What Will You Actually Do?The identity crisis nobody warns you about, retirement depression, underspending vs. overspending, and five questions worth sitting with before you make any financial decisions.~15:00 — The Purpose Problem: Should You Even Fully Retire?The happiest retirees David has seen, the financial benefits of partial work, and why "retire to something" beats "retire from something" every time.~20:00 — Business Owner or Employee: The Decisions Are DifferentW-2 employees: catch-up contributions, pension options, the healthcare gap before Medicare, Social Security timing. Business owners: exit planning, retirement plan vehicles, tax-efficient value extraction, and the concentration risk problem.~26:00 — Accumulation vs. Distribution PortfoliosWhy the portfolio that built your wealth can destroy your retirement. Sequence of returns risk explained plainly — same average return, completely different outcomes.~29:00 — The Bucket StrategyThree buckets, three time horizons, one framework that eliminates panic selling. How Bucket One is your shock absorber and why Bucket Three can still be aggressive.~32:00 — Roth vs. Pre-Tax: The Great DebateIt's almost always "and," not "or." Tax diversification, the Roth conversion window, and why business owners have unique opportunities here.~35:00 — The Risks Nobody Wants to Talk AboutLongevity risk (you live longer than your money does) and long-term care (70% of retirees will need it). What hybrid products exist now and why waiting to have this conversation is itself a costly decision.~38:00 — Spend on Experiences While You Can + Legacy PlanningThe go-go, slow-go, no-go framework. Why retirees wait too long. Legacy basics: beneficiary designations, powers of attorney, donor-advised funds, and the "talk while you can" imperative.Key Takeaways

Send us Fan MailDivorce is emotional. But for many women, the financial side can be the biggest shock of all.This week on Women & Money: The Shit We Don't Talk About, Barbara and Maggie sit down with Alex and Amanda, divorce mediators and co-hosts of the Dirty Laundry podcast, to share the real financial realities women face during separation and divorce.  Alex and Amanda share what they see every day behind closed doors, from hidden debt and emotional fights over “the Peloton,” to the financial wake-up calls that happen when one partner has been managing all the money. They also explain why mediation can help couples avoid high-conflict court battles, protect their finances, and create healthier co-parenting relationships moving forward.  00:49 Meet Alex & Amanda from Dirty Laundry05:05 Why unpaid labor matters in divorce06:10 Trial separations explained09:45 Can trial separations save marriages?16:40 Why mediation works differently than court20:00 Learning healthy conflict resolutionAlex and Amanda also remind women that even if they feel overwhelmed right now, they are capable of rebuilding financial confidence and creating a future that feels safe, secure, and fully their own. Whether you're navigating divorce, supporting someone through it, or simply trying to understand your finances more deeply, join us for next week's Money Talks “Protect Your Assets During a Divorce”. Click here to register for FREE and bring your questions!  This episode is supported by Marguerita Cheng, CFP®, RICP®, CDFA®, CEO of Blue Ocean Global Wealth. Marguerita works with women navigating divorce to bring clarity, confidence, and control back into their financial lives. At Blue Ocean Global Wealth, the focus is on helping women understand their options, make informed decisions, and feel empowered about their financial future, especially during moments that feel uncertain or overwhelming. If you're going through divorce and want support that's clear, grounded, and centered on your long term wellbeing, you can learn more and connect with Marguerita at www.blueoceanglobalwealth.com and follow her on LinkedIn, Instagram, Facebook, and Youtube.Disclosure:Securities offered by Registered Representatives and Advisory products and services offered by Investment Advisory Representatives through Private Client Services, member FINRA/SIPC, and a Registered Investment Advisor. Private Client Services and Blue Ocean Global Wealth are unaffiliated entities.Follow & connect with Alex & Amanda:Youtube Website Instagram: @dirty.laundry.podcast Want to take this conversation one step further? Join us for our next Money Talks, a free 30 minute live session where we'll dig into a question we hear all the time from women business owners: Budgeting for Businesses to Offer Benefits. Click here to register for FREE and bring your questions! Follow & connect with us!Website Facebook PageFacebook groupInstagramTikTokLinkedInYouTubeReddit ResourcesHave questions? Click this to check out our expert Q&A for tips from industry experts, tailored to help women address their most common financial concerns. Subscribe to our newsletter to receive financial tips delivered weekly here!...

As Founder of My Wealth 4 Life, Karen leads a firm dedicated to delivering comprehensive, high-level financial and estate planning designed to protect, preserve, and enhance our clients' hard-earned wealth. Their approach is both strategic and practical—focused on identifying overlooked risks, uncovering hidden opportunities, and building durable financial structures that stand the test of time.They work closely with medical professionals and entrepreneurs who operate in complex financial environments. Many are highly successful, yet still exposed to inefficiencies within their tax strategies, cash flow systems, and overall financial architecture. Their role is to bring clarity and precision—helping them eliminate waste, improve liquidity, and align their resources with long-term wealth and legacy objectives.Karen's perspective is shaped by a diverse international background in economics, business, and finance. She began my career in economic consulting with the United Nations Industrial Development Organization in Vienna, Austria, followed by a role as a marketing executive at 3M Germany. She later transitioned into financial services with Prudential in Düsseldorf, Germany, where she developed a foundation in advanced financial planning.After returning to the United States, Karen earned her Certified Financial Planner™ designation and established My Wealth 4 Life to provide a more integrated and sophisticated level of advisory services. She has since pursued advanced certifications in profit acceleration, exit and succession planning, cash flow optimization, income structuring, and capital creation, along with extensive training in estate planning and retirement income strategies.This multidisciplinary expertise allows her to approach each client's situation with a wide lens—connecting the often siloed areas of tax, business, investment, and legacy planning into one cohesive strategy. The result is not just a financial plan, but a structured path toward sustained wealth, greater control, and long-term financial confidence.Learn more: https://mywealth4life.comSecurities offered through Simplicity Group Investments, Member FINRA/SPIC, 475 Springfield Ave., Summit, N.J. 07901. Advisory Services offered through the Leaders Group Advisory, a Registered Investment Advisor. Orion Financial Associates, LLC is not affiliated with Simplicity Group Investments. CA Lic. No 0B77498.Influential Entrepreneurs with Mike Saundershttps://businessinnovatorsradio.com/influential-entrepreneurs-with-mike-saunders/Source: https://businessinnovatorsradio.com/interview-with-karen-powell-founder-of-my-wealth-4-life-discussing-overcoming-financial-fears-building-confidence

As Founder of My Wealth 4 Life, Karen leads a firm dedicated to delivering comprehensive, high-level financial and estate planning designed to protect, preserve, and enhance our clients' hard-earned wealth. Their approach is both strategic and practical—focused on identifying overlooked risks, uncovering hidden opportunities, and building durable financial structures that stand the test of time.They work closely with medical professionals and entrepreneurs who operate in complex financial environments. Many are highly successful, yet still exposed to inefficiencies within their tax strategies, cash flow systems, and overall financial architecture. Their role is to bring clarity and precision—helping them eliminate waste, improve liquidity, and align their resources with long-term wealth and legacy objectives.Karen's perspective is shaped by a diverse international background in economics, business, and finance. She began my career in economic consulting with the United Nations Industrial Development Organization in Vienna, Austria, followed by a role as a marketing executive at 3M Germany. She later transitioned into financial services with Prudential in Düsseldorf, Germany, where she developed a foundation in advanced financial planning.After returning to the United States, Karen earned her Certified Financial Planner™ designation and established My Wealth 4 Life to provide a more integrated and sophisticated level of advisory services. She has since pursued advanced certifications in profit acceleration, exit and succession planning, cash flow optimization, income structuring, and capital creation, along with extensive training in estate planning and retirement income strategies.This multidisciplinary expertise allows her to approach each client's situation with a wide lens—connecting the often siloed areas of tax, business, investment, and legacy planning into one cohesive strategy. The result is not just a financial plan, but a structured path toward sustained wealth, greater control, and long-term financial confidence.Learn more: https://mywealth4life.comSecurities offered through Simplicity Group Investments, Member FINRA/SPIC, 475 Springfield Ave., Summit, N.J. 07901. Advisory Services offered through the Leaders Group Advisory, a Registered Investment Advisor. Orion Financial Associates, LLC is not affiliated with Simplicity Group Investments. CA Lic. No 0B77498.Influential Entrepreneurs with Mike Saundershttps://businessinnovatorsradio.com/influential-entrepreneurs-with-mike-saunders/Source: https://businessinnovatorsradio.com/interview-with-karen-powell-founder-of-my-wealth-4-life-discussing-tax-efficient-strategies-for-lasting-wealth

Brent chats with Jennifer Lee about working with business owners to create a succession plan. They discuss some of the hurdles, ways to start the conversation, and important planning, family and tax matters to consider. Jennifer Lee is the owner and founder of Modern Wealth. Jennifer grew up in the world of financial advising by going on appointments with her father and to his office on weekends. Watching how he served his clients, she gained a solid understanding of the work ethic and values of a dedicated financial advisor. Today as Founding Partner of Modern-Wealth, Jennifer directs her financial acuity to helping those who are in financial transition – whether divorcing, recently widowed, buying or selling a business, retiring, inheriting assets or merging families after remarriage. Her goal is to be a trusted advisor who provides independent analysis, develops strategy, and walks clients through the process of understanding their financial lives. Working collaboratively with clients and their other advisors, Jennifer and her team help clients cut through the noise and make sound financial decisions. Originally from Maryland, Jennifer brings a wealth of experience to her work. Jennifer founded Modern-Wealth in Maryland 21 years ago, relocating to Lakewood Ranch in 2012. Since transitioning her practice into Florida, Jennifer has been involved various community programs (i.e. Manatee Memorial Women’s Action Committee, Chamber of Commerce, S.W.A.T.). She loves the area’s arts and culture and it’s gorgeous beaches as well as cooking, entertaining, and making jewelry in her down time. She also delights in one of the perks of her job – throwing the occasional “Retirement” or “Independence Day” party for clients. Her most recent endeavor; Jennifer wrote a book entitled “Squeeze The Juice.” This easy to read, easy to understand book acts as a guide mixing her own life experiences, career expertise and through provoking passages that encourage you to be your best self. Jennifer can be found at: Our Team – Modern Wealth Discussions in this show should not be construed as specific recommendations or investment advice. Always consult with your investment professional before making important investment decisions. Securities offered through Cambridge Investment Research, Inc., a registered Broker/Dealer, Member FINRA/SIPC. Advisory services offered through Cambridge Investment Research Advisors, Inc., a Registered Investment Advisor. Modern-Wealth, LLC and Cambridge are not affiliated. This material is for informational purposes only. The views expressed are those of the speaker as of the date noted and not necessarily of the speaker's firm or its affiliates. If you are enjoying the podcast please SUBSCRIBE and leave a REVIEW, and if you want to learn more about Brent go to https://wealthandlaw.com/team/. Legal Disclaimer: https://wealthandlaw.com/legal-disclaimer/

In this episode of Real Money, Real Experts, hosts Dr. Brandy Baxter and Rachael DeLeon sit down with Lisa Whitley, accredited financial counselor, and founder of MoneyByLisa LLC, a Registered Investment Advisor domiciled in the District of Columbia. Lisa shares her unique journey as a Foreign Service Officer with the United States Agency for International Development into financial counseling and advocacy work. Together, they explore how financial professionals can use their firsthand client experiences to influence policy, support financial wellness initiatives, and create meaningful change at the local, state, and federal levels.From affordability challenges and utility assistance programs to consumer protection and community advocacy, this conversation breaks down how advocacy doesn't have to feel overwhelming — and why even one small step can make a lasting impact.Whether you're passionate about policy or simply looking for ways to better support your clients, this episode is a reminder that your voice matters.Show Notes:00:00 – Welcome back to Real Money, Real Experts00:38 – Introducing guest Lisa Kirchenbauer01:57 – Lisa's journey into government relations and advocacy03:15 – From Wall Street and United States Agency for International Development to financial counseling04:40 – Why Lisa started her own firm, Money by Lisa05:49 – What advocacy looks like in financial wellness06:53 – Why advocacy can feel overwhelming — and how to simplify it08:28 – Starting local: state and community-level advocacy08:48 – The Association for Financial Counseling & Planning Education Advocacy Toolkit and practical resources10:46 – Learning from other states and sharing solutions11:35 – Why AFCs are subject matter experts in financial wellness13:44 – Key policy issues impacting clients right now16:08 – Practical first steps for getting involved in advocacy17:48 – A real-world example of community advocacy creating policy change19:49 – Lisa's 2 Cents20:59 – How the Government Relations Task Force supports the AFCPE communityShow Note Links:Check out our Government Relations Advocacy Toolkit!  Follow MoneyByLisa on Facebook!Connect with Lisa on Linkedin!Learn more about MoneyByLisa!Want to get involved with AFCPE®?Here are a few places to start: Become a Member, Sign up for an Essentials Course, or Get AFC Certified today!Want to support the podcast? We love partnering with organizations that share our mission and values. Download our media kit.

As Founder of My Wealth 4 Life, Karen leads a firm dedicated to delivering comprehensive, high-level financial and estate planning designed to protect, preserve, and enhance our clients' hard-earned wealth. Their approach is both strategic and practical—focused on identifying overlooked risks, uncovering hidden opportunities, and building durable financial structures that stand the test of time.They work closely with medical professionals and entrepreneurs who operate in complex financial environments. Many are highly successful, yet still exposed to inefficiencies within their tax strategies, cash flow systems, and overall financial architecture. Their role is to bring clarity and precision—helping them eliminate waste, improve liquidity, and align their resources with long-term wealth and legacy objectives.Karen's perspective is shaped by a diverse international background in economics, business, and finance. She began my career in economic consulting with the United Nations Industrial Development Organization in Vienna, Austria, followed by a role as a marketing executive at 3M Germany. She later transitioned into financial services with Prudential in Düsseldorf, Germany, where she developed a foundation in advanced financial planning.After returning to the United States, Karen earned her Certified Financial Planner™ designation and established My Wealth 4 Life to provide a more integrated and sophisticated level of advisory services. She has since pursued advanced certifications in profit acceleration, exit and succession planning, cash flow optimization, income structuring, and capital creation, along with extensive training in estate planning and retirement income strategies.This multidisciplinary expertise allows her to approach each client's situation with a wide lens—connecting the often siloed areas of tax, business, investment, and legacy planning into one cohesive strategy. The result is not just a financial plan, but a structured path toward sustained wealth, greater control, and long-term financial confidence.Learn more: https://mywealth4life.comSecurities offered through Simplicity Group Investments, Member FINRA/SPIC, 475 Springfield Ave., Summit, N.J. 07901. Advisory Services offered through the Leaders Group Advisory, a Registered Investment Advisor. Orion Financial Associates, LLC is not affiliated with Simplicity Group Investments. CA Lic. No 0B77498.Influential Entrepreneurs with Mike Saundershttps://businessinnovatorsradio.com/influential-entrepreneurs-with-mike-saunders/Source: https://businessinnovatorsradio.com/interview-with-karen-powell-founder-of-my-wealth-4-life-discussing-securing-retirement-lifestyle