Trust the Plan Podcast with Nick Hopwood, CFP® and Jim Pilat, CFP®
242 episodes - English - Latest episode: about 1 month ago - ★★★★★ - 8 ratingsJoin Nick Hopwood, CFP® And Jim Pilat, CFP® of Peak Wealth Management on our Journey to a peace of mind retirement.
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Episodes
EP 230: Adapting Your FIRE Strategy for Economic Uncertainty
June 03, 2024 15:35 - 9 minutes - 8.11 MBIn this episode of the Trust the Plan Podcast, Nick Hopwood, CFP® and Jim Pilat, CFP®, listeners gain valuable insights into navigating the FIRE (Financial Independence, Retire Early) strategy. Nick and Jim delve into the principles of FIRE, emphasizing the importance of disciplined saving, strategic investing, and living below one's means. They discuss how individuals within the FIRE movement adapted their strategies amidst the economic uncertainty brought about by the pandemic, shari...
EP 229: Maximizing Wealth: Strategies for Inherited IRAs
May 28, 2024 12:43 - 6 minutes - 5.43 MBIn this episode of the Trust the Plan Podcast, we delve into a topic that's frequently raised by our clients: navigating inherited IRAs. Join our hosts, Nick Hopwood, CFP® and Jim Pilat, CFP® as they expertly guide us through the intricacies of inherited individual retirement accounts (IRAs) and share invaluable strategies for mitigating taxes associated with them. Inherited IRAs present unique challenges and opportunities, often requiring careful planning and informed decision-making. Nick...
EP 228: Celebrating Success: Reflections on the No-Spend Month Journey
May 20, 2024 13:25 - 8 minutes - 6.89 MBWelcome to Trust the Plan podcast! In this special episode, Nick Hopwood, CFP® talks with Preston Gee, CFP® on his transformative journey: a month of eliminating all unnecessary expenses. Together, they delve into the intricacies of financial discipline, sharing personal insights, practical tips, and inspiring anecdotes. From budgeting basics to creative ways of finding free entertainment, the duo offers a roadmap to navigate the challenges of curbing unnecessary expenses. Tune in as they ...
EP 227: Empowering Your Finances: What a Financial Planner Can Do for You
May 13, 2024 12:54 - 13 minutes - 10.9 MBWelcome to Trust the Plan Podcast with your hosts Nick Hopwood, CFP® & Jim Pilat. CFP®! In this episode, we delve into the intricate world of financial planning, uncovering the crucial role of financial planners and the comprehensive coverage of a well-crafted financial plan. Join us as we demystify the responsibilities of financial planners, who act as guides on your journey to financial success. From understanding your financial goals to navigating complex investment strategies, they are ...
EP 226: The Retirement Blueprint: A Checklist for Every Age
May 06, 2024 18:33 - 9 minutes - 8.11 MBWelcome to the Trust the Plan Podcast with Nick Hopwood, CFP® and Jim Pilat, CFP® of Peak Wealth Management. In this episode, we delve into the essential topic of retirement planning with a comprehensive checklist. Join us as we guide you through the crucial tasks to tackle at various stages of your life leading up to retirement. Whether you're in your 20s, 30s, 40s, or beyond, we've got you covered with expert insights and actionable advice to help you secure your financial future. Tune i...
EP 225: Navigating the Mortgage Maze: Pay Off or Invest?
April 29, 2024 13:40 - 9 minutes - 7.95 MBWelcome to Trust the Plan, the podcast where we break down financial decisions to help you make informed choices. In this episode, Nick Hopwood, CFP® and Jim Pilat, CFP® dive into a common dilemma: Should you prioritize paying off your home with a lower interest rate quickly, or invest your dollars in a money market when rates are higher? Join us as we explore the pros and cons of both strategies. Are you a believer in the peace of mind that comes with owning your home outright? Or are you...
EP 224: Why Presidential Elections Shouldn't Dictate Your Investment Decisions
April 23, 2024 12:58 - 11 minutes - 9.95 MBJoin Nick Hopwood, CFP® and Jim Pilat, CFP® of Peak Wealth Management as they delve into Nick's illustrious 25-year journey in the finance industry. Nick mentions that throughout his career, clients frequently come to him during an election year asking how it could impact their investments. As we near closer to the U.S. Presidential Election in November, Nick and Jim debunk common misconceptions surrounding the impact of political cycles on financial markets. Through insightful analysis ...
EP 223: Finding Meaning in Semi-Retirement: The Benefits of Gradual Retirement
April 08, 2024 12:26 - 10 minutes - 9.41 MBIn this episode of the Trust the Plan Podcast, Jim Pilat, CFP® & Preston Gee, CFP® delve into the advantages of transitioning into part-time work during your retirement years, exploring how it can bring purpose, fulfillment, and a sense of balance to your life. Along with discussing the many benefits of gradual retirement, Jim and Preston also share a variety of part-time ideas for retirees looking to stay active, engaged, and financially secure. From consulting to freelance opportunities ...
EP 222: Maximizing Your Inheritance: Should You Take Out Your Beneficiary IRA Funds?
April 01, 2024 14:13 - 8 minutes - 7.25 MBIn this episode, Jim Pilat, CFP® and Preston Gee, CFP® of the Trust The Plan Podcast tackles the topic of maximizing your inheritance by discussing the question of whether or not you should take out your beneficiary IRA funds. Jim and Preston weigh the pros and cons of tapping into your inherited IRA funds early versus letting them continue to grow tax-deferred. They discuss the potential benefits of accessing the funds to pay off debt, invest in higher return assets, or cover unexpected ex...
EP 221: Is Your Retirement Savings Enough? Signs You Might Be Falling Short
March 25, 2024 12:42 - 13 minutes - 11.8 MBJoin hosts Jim Pilat, CFP, and Preston Gee, CFP, on the Trust the Plan Podcast as they delve into the essential topic of retirement savings adequacy in their latest episode, "Is Your Retirement Savings Enough? Signs You Might Be Falling Short." With their combined expertise, Jim and Preston provide valuable insights and practical tips to help listeners assess their current financial situation and navigate the complexities of retirement planning. Tune in to gain a deeper understanding of th...
EP 220: Elevate Your Finances: Inside the Preston Gee Financial Plan 2024
March 19, 2024 17:05 - 14 minutes - 12.4 MBIn this episode of the Trust the Plan Podcast, Jim Pilat, CFP® and Preston, Gee, CFP® of Peak Wealth Management take a deep dive into the highly-anticipated Preston Gee 2024 Financial Plan. Gain a perspective from a younger generation — as Preston discusses changes from 2023 to 2024- including marriage, buying his first new home, and paying off student loans. Learn how Preston's financial plan can guide you on the path to your own financial success – tune in now and start building your brigh...
EP 219: Financial Foundations for Kids: A Guide for Parents
March 11, 2024 14:46 - 13 minutes - 11.8 MBIn this episode of the Trust the Plan Podcast, Nick Hopwood, CFP® and Jim Pilat, CFP® of Peak Wealth Management are diving into the important topic of financial foundations for kids and guiding parents on how to instill good money habits in their children. Nick says he was inspired while attending a conference where he connected with Scott Donnell, founder of GravyStack. Nick and Jim discuss the significance of starting financial education early, the role parents play in shaping their childr...
EP 218: Cracking the Longevity Code: Secrets to a Longer, Healthier Life
March 04, 2024 13:30 - 8 minutes - 7.25 MBIn this episode of the Trust the Plan Podcast, Nick Hopwood, CFP® talks with Jim Pilat, CFP® about his experience meeting Dr. Michael Roizen, author of The Great Age Reboot: Cracking the Longevity Code for a Younger Tomorrow. In Dr. Roizen's book, he explores the latest advancements in longevity research and shares valuable insights on how we can all unlock the secrets to living a longer, healthier life. From cutting-edge science to practical tips and strategies, Nick breaks down the key f...
EP 217: The Millionaire Definition Hasn't Changed, But Its Meaning Has
February 26, 2024 14:00 - 13 minutes - 11.8 MBIn this episode of the Trust the Plan Podcast, Nick Hopwood, CFP® and Jim Pilat, CFP® of Peak Wealth Management discuss the meaning of obtaining the $1 million status- and how its meaning has evolved over time. — Peak Wealth Management is a financial planning and wealth management firm in Plymouth, MI. We believe by providing education and guidance, we inspire our clients to make great decisions so they can Retire With Peace of Mind. Stay Connected With Us: Podbean: findingtruewealth.po...
EP 216: Unlocking Your Potential: A Conversation with Ben Knapp on Healthier Living
February 19, 2024 14:40 - 14 minutes - 12.7 MBNick Hopwood, CFP® of Peak Wealth sits down with Ben Knapp of Omnevo Performance Academy to dive deep into the world of health and wellness. Nick and Ben discuss the importance of understanding body composition, the impact it has on overall health, and strategies for achieving sustainable and realistic goals. Whether you're looking to shed some pounds, gain muscle, or simply improve your overall well-being, this episode is packed with valuable insights and practical tips to help you reach ...
EP 215: 10 Money Myths Broke People Believe
February 12, 2024 16:29 - 13 minutes - 9.11 MBIn this episode of the Trust the Plan Podcast, Nick Hopwood, CFP® and Jim Pilat, CFP® of Peak Wealth Management are debunking 10 money myths that broke people often believe. By dispelling these myths and providing practical advice, Nick and Jim hope to help listeners improve their financial literacy and make more informed decisions about their money. Join the conversation to learn more. — Peak Wealth Management is a financial planning and wealth management firm in Plymouth, MI. We belie...
EP 214: The Election Effect: How Politics Influences the Market
February 05, 2024 15:19 - 8 minutes - 5.56 MBIn this episode of the Trust the Plan Podcast, Nick Hopwood, CFP® and Jim Pilat, CFP® of Peak Wealth Management delve into the relationship between politics and the U.S. market. Join us as we explore the historical patterns of market behavior during election years, discuss the potential implications of various election results on different sectors, and offer insights on how investors can prepare themselves for potential market volatility. Tune in to gain a deeper understanding of the electio...
EP 213: Thriving Through Transitions: Post-Retirement Valleys Explored
January 29, 2024 19:51 - 7 minutes - 5.15 MBIn this episode of the Trust the Plan Podcast, Nick Hopwood, CFP® and Jim Pilat, CFP® of Peak Wealth Management delve into managing finances in the post-retirement valley. Nick and Jim uncover the challenges retirees face after leaving the workforce — while offering practical advice to overcome them. This dynamic financial duo aims to provide support and guidance for those in this transitional phase. — Peak Wealth Management is a financial planning and wealth management firm in Plymouth, M...
EP 212: Mastering Retirement: The 8 Essential Ages for Financial Success
January 22, 2024 13:23 - 9 minutes - 6.61 MBIn the Trust the Plan Podcast, hosts Nick Hopwood, CFP® and Jim Pilat, CFP® share valuable insights on the eight most important ages in retirement planning. They delve into the significance of each milestone and how it affects an individual's financial outlook. — Peak Wealth Management is a financial planning and wealth management firm in Plymouth, MI. We believe by providing education and guidance, we inspire our clients to make great decisions so they can Retire With Peace of Mind. Stay...
EP 211: 2024's Game-Changer: The 529 Rollover into IRA Explained
January 15, 2024 14:54 - 7 minutes - 4.93 MBNick Hopwood, CFP® and Jim Pilat, CFP® of Peak Wealth Management talk about how families who are saving for education in 529 plans are now allowed to roll over unused funds from those accounts into Roth individual retirement accounts (IRA) without incurring tax penalties. There are a few limitations to the new rollover measure - Join our conversation to learn everything you need to know about planning for your child's financial future! — Peak Wealth Management is a financial planning and w...
EP 210: Maximizing Tax Benefits: How Donor-Advised Funds Can Help
January 08, 2024 15:11 - 6 minutes - 4.44 MBNick Hopwood, CFP® and Jim Pilat, CFP® of Peak Wealth Management dive into the concept of donor-advised funds, a popular and effective tool for charitable giving. One of the key benefits of donor-advised funds is the ability to make recommendations on how the funds should be distributed to specific nonprofits and causes, while also receiving potential tax benefits. We discuss the various aspects of DAFs, including their flexibility, ease of use, and potential for creating a lasting philanthr...
EP 209: Health Care Coverage for Retirees
January 02, 2024 13:58 - 10 minutes - 6.54 MBNick Hopwood, CFP® and Jim Pilat, CFP of Peak Wealth Management open up the episode by sharing an update on EP 202 — where the duo talks about the importance of having money dates with your spouse. Nick shares his most recent experience where him and his wife carved out time dedicated to talk about finances. After the beginning discussion, Nick and Jim delve in on health care coverage for retirees. With the high cost of health insurance to Medicare being available for people 65+, what is y...
EP 208: Next Level Investing: Mega Backdoor Roths
December 26, 2023 15:24 - 9 minutes - 5.91 MBIn this episode, Nick Hopwood, CFP® and Jim Pilat, CFP® of Peak Wealth Management dive into the benefits of Mega Backdoor Roths. This kind of Roth takes investing to the next level — It enables you to take the after-tax dollars you contribute and roll them into a Roth IRA. Get ahead of the game for your finances in 2024 — This is an episode you won't want to miss! — Peak Wealth Management is a financial planning and wealth management firm in Plymouth, MI. We believe by providing education...
EP 207: Making Smart Housing Decisions in Retirement
December 18, 2023 18:57 - 9 minutes - 6.73 MBMaking smart housing decisions in retirement is a crucial part of planning for this new chapter in life. In this episode, Nick Hopwood, CFP® and Jim Pilat, CFP® of Peak Wealth Management discuss various factors to consider while planning — such as evaluating affordability (and unexpected items not accounted for such as increase in taxes) & exploring options like downsizing or renting. Making informed and thoughtful housing decisions ensures that retirees can enjoy their golden years with c...
EP 206: Retirement Investing: Dave Ramsey’s 8% Withdrawal Rate
December 11, 2023 17:02 - 11 minutes - 8.25 MBIn this episode, Nick Hopwood, CFP® and Jim Pilat, CFP® of Peak Wealth Management discuss Dave Ramsey's concept of an 8% withdrawal rate in retirement. The personal finance expert recently landed in hot water after an on-air rant about the popular 4% rule for retirement withdrawals. It all started when a 30-year-old man with $120,000 already saved for retirement called into “The Ramsey Show” to ask what percentage of his assets he should plan to withdraw in retirement over a 30-year time...
EP 205: From Mine to Ours: The Ultimate Guide to Joint Bank Accounts in Marriage
December 04, 2023 14:23 - 8 minutes - 6.51 MBIn this episode, Nick Hopwood, CFP® and Jim Pilat, CFP® talk about how financial transparency and unity are fundamental to a successful partnership — and how joint bank accounts can be a powerful tool in achieving that. Join us as we explore the financial advantages, strategies for managing joint accounts, and tips for open communication and shared financial goals. Whether you're newlyweds or have been married for years, this podcast is your go-to resource for unlocking the potential of jo...
EP 204: Maximum Benefits and Contribution Limits for 2024
November 27, 2023 14:21 - 7 minutes - 6.1 MBIn this episode of the Trust the Plan Podcast, Nick Hopwood, CFP® and Jim Pilat, CFP® share updates regarding maximum benefits and contribution limits for 2024. The IRS announced adjustments for various retirement plans, including 401(k), IRA, and Roth IRA accounts. These updates mean that you now have even more opportunities to maximize your contributions towards your retirement accounts, ensuring a brighter financial future. Plan ahead for 2024 - This is an episode you won't want to miss! ...
EP 203: Mint Shutdown: What Should Mint Users Do Now?
November 20, 2023 17:10 - 11 minutes - 8.79 MBIn this episode, Nick Hopwood, CFP® and Jim Pilat, CFP® discuss the upcoming shutdown of the budgeting app, Mint. As of January 1, 2024, Mint is leaving its users without a tool they've relied on for budgeting and financial management. Fear not! We've got the perfect solution for our listeners - Peak's Expense & Net Worth Tracking spreadsheet. This free and user-friendly tool allows you to effortlessly track your expenses, categorize them, and visualize your net worth. Join us in this episod...
EP 202: What is a Money Date? & How Can It Help Your Financial Future?
November 13, 2023 13:38 - 8 minutes - 5.72 MBIn this episode, Nick Hopwood, CFP® and Jim Pilat, CFP® of Peak Wealth Management talk about the benefits of a money date — and the impact it can have on your financial future. A money date is a way for you and your significant other to come together and talk about money and the things that matter most in a way that makes you comfortable and makes finances more understandable. It’s a scheduled conversation—a date—around your money, as well as your goals, your values, your priorities, and wh...
EP 201: Top 5 Careers of Millionaires (Results will SHOCK you!)
November 06, 2023 15:16 - 9 minutes - 6.65 MBNick Hopwood, CFP® and Jim Pilat, CFP® of Peak Wealth Management talk about the top 5 careers of millionaires, according to the largest survey EVER conducted on 10,000 U.S. millionaires— and the results will shock you! You’ll learn that building wealth has almost NOTHING to do with your income or your background! It doesn’t matter where you come from. It matters where you’re going. — Peak Wealth Management is a financial planning and wealth management firm in Plymouth, MI. We believe by pr...
EP 200: Exploring the Impact of the Israel-Palestine Conflict on the US Deficit
October 30, 2023 12:48 - 14 minutes - 9.71 MBIn episode 200 of the Trust the Plan Podcast, Nick Hopwood, CFP® and Jim Pilat, CFP® of Peak Wealth Management delve into the ongoing conflict in Israel and its impact on the United States deficit. With tensions high between Israel and Palestine, the United States has continued to provide financial assistance to Israel, which has resulted in an increase in the U.S. deficit. As the conflict continues to escalate, Nick and Jim provide a thoughtful perspective on the complexities of the situa...
EP 199: Tackling the Cost of College: A Guide to Saving for Higher Education
October 23, 2023 17:12 - 7 minutes - 5.17 MBIn this episode, Nick Hopwood, CFP® and Jim Pilat, CFP® of Peak Wealth Management will discuss the best practices, strategies, and options available for financing higher education. With college costs skyrocketing, finding the right funding options can be challenging for students and parents alike. Luckily, there are several avenues for financing college education, from savings accounts and loans to grants, scholarships, and work-study programs. At the end of this podcast, you'll have a bett...
EP 198: Managing Client Expectations: The Secret to Successful CFP-Client Relationships
October 16, 2023 14:52 - 8 minutes - 5.93 MBIn this episode, Nick Hopwood, CFP® and Jim Pilat, CFP® of Peak Wealth Management delve into the crucial topic of managing client expectations as a Certified Financial Planner (CFP) and how it sets the foundation for a successful and fulfilling relationship. We explore the pivotal role communication plays in understanding and aligning with clients' financial goals, aspirations, and risk tolerance. By effectively managing expectations, CFPs can create a personalized financial plan that not on...
EP 197: The Cost of Risk: Why Some Homeowners Refuse to Buy Insurance
October 09, 2023 13:10 - 6 minutes - 4.29 MBIn today's episode, Nick Hopwood, CFP® and Jim Pilat, CFP® of Peak Wealth Management discuss the two main reasons why more people are choosing to skip home insurance, as outlined in a recent Wall Street Journal article. We'll be taking a closer look at the financial and psychological factors that influence this decision, including the rising cost of premiums and the optimism bias that can lead people to underestimate their own risk. Whether you're a homeowner yourself or simply interested ...
EP 196: Rounding Up At The Register
October 02, 2023 13:56 - 7 minutes - 5.5 MBNick Hopwood, CFP® and Jim Pilat, CFP® of Peak Wealth Management talk about businesses that ask you to "round up" for donations. This tactic has become increasingly popular among businesses, including supermarkets, gas stations, and restaurants. Essentially, when you make a purchase, the business will give you the option to "round up" to the nearest dollar or another amount, with the difference going towards a charitable cause. While this may seem like a simple way to give back, some people ...
Don’t Retire...Graduate! feat. Eric Brotman, CFP®
September 25, 2023 13:45 - 23 minutes - 17.5 MBIn this episode, Nick Hopwood, CFP® and Jim Pilat, CFP® of Peak Wealth Management had the pleasure of speaking with Financial Advisor, Eric Brotman. Eric has been working in the financial industry for over 25 years and has a wealth of knowledge to share. Along with being a CFP® living in Maryland, Eric also is an author & host of the Don't Retire...Graduate! Podcast. Tune in now to hear from one of the top financial advisors in the industry. — Peak Wealth Management is a financial planning...
EP 195: Mastering the Withdrawal Phases of Retirement
September 18, 2023 18:07 - 10 minutes - 7.52 MBNick Hopwood, CFP® and Jim Pilat, CFP® of Peak Wealth Management talk about a recent article they read where it highlights 7 steps someone must take to make a retirement withdrawal. Overall, the duo believes the article missed the mark... saying there's a lot more that needs be taken into consideration. Learn more from this powerhouse financial duo on what you need to think about while making retirement withdrawals. This is an episode you won't want to miss! — Peak Wealth Management is a f...
EP 194: Exploring September Economic Trends 2023
September 11, 2023 14:02 - 6 minutes - 4.86 MBIn this episode, Nick Hopwood, CFP® and Jim Pilat, CFP® of Peak Wealth Management talk about a recent TikTok video where a woman compares the work ethic and goals between Gen Z & Boomers. Nick and Jim delve into her reasoning while sharing their thoughts on both generations. — Peak Wealth Management is a financial planning and wealth management firm in Plymouth, MI. We believe by providing education and guidance, we inspire our clients to make great decisions so they can Retire With Peace ...
EP 193: Do Young Americans Share Same Work Ethic & Goals as Boomers?
August 28, 2023 13:49 - 10 minutes - 7.45 MBIn this episode, Nick Hopwood, CFP® and Jim Pilat, CFP® of Peak Wealth Management talk about a recent TikTok video where a woman compares the work ethic and goals between Gen Z & Boomers. Nick and Jim delve into her reasoning while sharing their thoughts on both generations. — Peak Wealth Management is a financial planning and wealth management firm in Plymouth, MI. We believe by providing education and guidance, we inspire our clients to make great decisions so they can Retire With Peace ...
Michigan Football Through the Eyes of Chris Duprey
August 24, 2023 20:51 - 36 minutes - 25.9 MBIn this episode, Nick Hopwood, CFP® sits down with former Michigan Daily writer, Chris Duprey. Chris spent his college years at the University of Michigan working as a sports writer for the newspaper. We delve into how he got his start, some of his favorite memories of writing for The Michigan Daily, and lessons he learned along the way. Chris shares his expert insight on the current Michigan Wolverine team - and where he sees them ranking for the 2023 season. So sit back, relax, and join u...
EP 192: The Risks of Owning Rental Properties
August 21, 2023 14:04 - 8 minutes - 6.07 MBOwning a rental property can be a great way to generate passive income and build wealth over time. However, like any investment, there are risks and downsides to consider. In this episode, Nick Hopwood, CFP® and Jim Pilat, CFP® of Peak Wealth Management explore the cons of owning a rental property and how to mitigate them. Nick shares his personal experience of handling multiple rental properties — including a recent home that was left destroyed by the tenants. Watch our YouTube video to vie...
EP 191: Back to Reality: The Impending Resumption of Student Loan Payments
August 14, 2023 16:08 - 9 minutes - 6.87 MBNick Hopwood, CFP® and Jim Pilat, CFP® of Peak Wealth Management discuss the recent news that student loan payments will resume October 2023 after being paused due to the COVID-19 pandemic. Nick and Jim explore the impact this will have on students and graduates who have been relying on the pause in payments to help with financial stability during a difficult time. We also delve into how this decision may impact the overall economy and the student loan debt crisis in America. Peak Wealth M...
EP 190: The U.S. Government Debt Has Been Downgraded
August 07, 2023 16:11 - 8 minutes - 6.22 MBWelcome to today's episode of the Trust the Plan Podcast, where Nick Hopwood, CFP® and Jim Pilat, CFP® discuss the recent news that Fitch, one of the major credit rating agencies, has downgraded the U.S. economy's debt rating from AAA to AA+. In this episode, we'll explore the implications of this news for the U.S. economy, investors, and taxpayers. We'll also discuss what this downgrade means for the U.S. government's ability to borrow money and what steps it can take to address its debt c...
EP 189: The Keys to Olivia Atkin’s Success in Podcasting, Writing, and Entrepreneurship
July 31, 2023 17:14 - 33 minutes - 23.5 MBJoin us for an inspiring episode with Nick Hopwood, CFP® and Jim Pilat, CFP® as they delve into the life and career of Olivia Atkin, a podcaster, author and successful entrepreneur. We'll examine the key moments and experiences that have shaped her journey. As the host of the Achieving Success Podcast, she has captivated audiences with her informative and engaging discussions. Her book, Achieving Success in Career Development, has inspired countless readers with her insightful perspectives a...
EP 188: The Power of Multiple Revenue Streams: A Guide to Diversifying Your Income
July 24, 2023 14:03 - 9 minutes - 6.56 MBIn today's competitive and ever-changing job market, diversifying your income has become more important than ever. In this episode of the Trust the Plan Podcast, Nick Hopwood, CFP® is joined by Preston Gee, CFP® to discuss the benefits and strategies of generating multiple streams of income. At Peak Wealth Management, they've developed a formula on diversifying income for their clients called Peak Income 360. Learn more at peakwm.com/peak-income-360 Overall, "The Power of Multiple Revenue ...
EP 187: Mastering Your Wealth: The Power of Tracking Net Worth
July 17, 2023 20:21 - 10 minutes - 7.01 MBIn this episode, Nick Hopwood, CFP® and Preston Gee, CFP® of Peak Wealth Management shed light on the significance of understanding one's assets, liabilities, and overall financial health in order to make informed decisions and achieve long-term financial goals. Listeners can expect to gain a comprehensive understanding of the different components that contribute to net worth, such as investments, real estate, savings, and debt. By the end of this episode, listeners will have a clear unde...
EP 186: The Wealth Illusion: More Likely to Misjudge Retirement Preparedness
July 11, 2023 13:33 - 7 minutes - 4.93 MBMany Americans are mistaken about their financial preparedness for retirement. But overconfidence skews higher for the wealthy than for others, according to a new report. It is believed that booming stock and housing markets may have contributed to a "wealth illusion" among high-income households. In this episode, Nick Hopwood, CFP® and Preston Gee, CFP® of Peak Wealth Management discuss the importance of taking multiple factors into consideration while planning for retirement- including m...
EP 185: Mid-Year Tax Checkup
July 05, 2023 13:49 - 11 minutes - 8.11 MBSummertime is the perfect time for a mid-year tax checkup. A tax checkup will help you avoid being surprised with a potentially large tax bill and may help uncover ways you can save throughout the rest of the year. Join Nick Hopwood, CFP® and Preston Gee, CFP® of Peak Wealth Management as they explore the opportunities for both W2 employees and small business owners. Learn more about the benefits of each- and how to use them to your financial advantage. — Peak Wealth Management is a fina...
The Surprising Investment Habits of Gen Z
June 26, 2023 15:48 - 8 minutes - 5.56 MBIn this episode, Nick Hopwood, CFP® is joined by Preston Gee, CFP® to talk about the investment strategies of Gen Z. From single stocks to cryptocurrency, listen to this episode to learn more about how the next generation invests their money. — Peak Wealth Management is a financial planning and wealth management firm in Plymouth, MI. We believe by providing education and guidance, we inspire our clients to make great decisions so they can Retire With Peace of Mind. Visit our website at www...
EP 183: Is Tipping Getting Out of Control?
June 19, 2023 17:58 - 7 minutes - 6.27 MBOnce upon a time, tipping was relatively simple. You might add 10% to 15% to your restaurant bill for the server or hand a dollar or two to the valet who parked your car. But now, it feels as though tipping has become the expectation everywhere. In this episode, Nick Hopwood, CFP® and Jim Pilat, CFP® of Peak Wealth Management talk about 'guilt tipping' — and how the pressure to tip has gotten out of control. — Peak Wealth Management is a financial planning and wealth management firm in Pl...