It's All About the $Money, Honey!

Episode 166: The All Terrain Retirement Plan

April 10, 2024 00:00 - 29 minutes - 27.5 MB

Retiring is usually a one-day affair. You simply stop working. They throw you a party and that’s it. However, RETIREMENT is a marathon that spans 30+ years. This means that your retirement plan needs to be designed to navigate every bump, pothole, landmine, mountain, ditch, and smooth stretch you’ll experience. In this episode, we share how to create the ultimate All Terrain Retirement Plan.

Episode 165: The Silent Killer In Retirement

April 01, 2024 00:00 - 29 minutes - 27.4 MB

The idea of a perfect retirement is different for everyone. However, there is one aspect of retirement planning that impacts, quite literally, everyone. It is the silent killer in your retirement plan, and each year, it slowly but inexorably eats away at your purchasing power. This silent killer is inflation. In this episode, we explore what causes inflation, the damage it can inflict, and how you can protect yourself from it. Later, we explain what Warren Buffet's favorite market i...

Episode 161: Our Favorite Tax Reduction Strategies

March 25, 2024 00:00 - 30 minutes - 27.5 MB

No one enjoys paying taxes. However, when you do pay them, don't complain about having a large tax bill too much, because it means you earned a lot of income. The thing to do is find ways to reduce, or even eliminate, the taxes you owe. In this episode, we reveal to you some of our favorite tax reduction strategies we use to help our clients. Later, we share why chasing the highest interest rates for your cash may not always be the best idea.

Episode 164: Selling Your Family Business

March 25, 2024 00:00 - 29 minutes - 27.5 MB

Private, family-owned businesses are the source of a large percentage of the $50 trillion expected to pass from Baby Boomers to their heirs over the next 10 to 15 years. They can also be the source of some of the greatest frustration and anxiety for families who are unprepared to make the transition properly. In this episode, we share our key considerations before selling a privately held family business to heirs and/or business partners.

Episode 162: The Retirement Red Zone

March 25, 2024 00:00 - 29 minutes - 27.5 MB

In the final few years leading up to retirement, there are dozens of decisions to be made and actions to be taken so you can you stroll into retirement with confidence. So what are they? How will you know if you're on track? Who can help you make the best decisions? In this episode, we share the Countdown to Retirement, the key things you should do beginning no later than 3 years prior to retirement.

Episode 163: Unintended Financial Consequences

March 25, 2024 00:00 - 29 minutes - 27.5 MB

Considering the number of decisions you'll have to make as you prepare for retirement, it's not a surprise that there are often a lot of mistakes made. Many times, a choice you thought was a great one at the time can end up having negative unintended consequences later. In this episode, we share what you need to know so you can anticipate those consequences and make better decisions to avoid them.

Episode 160: The Power of Real Estate Investing

March 06, 2024 00:00 - 55 minutes - 51.3 MB

As a wealth building asset, real estate checks many boxes. Income production. Appreciation in value. Hedge against stock market volatility. Tax shelter. Legacy planning tool. In this episode, we visit with special guest Carol Hefner, VP at Cedars Commercial Real Estate and Development in Oklahoma City, to discuss the benefits and pitfalls of investing in real estate. Carol also shares her insights and advice on how to work with your family to create wealth and pass on your values to...

Episode 159: Understanding Your Investment Statements

February 26, 2024 00:00 - 29 minutes - 27.4 MB

If you're an investor, you receive quarterly investment statements. Typically, they are several pages long and crammed with small print and numbers. Do you really need to pay attention to all of it? Which parts are most important to pay attention to? In this episode, we share the key things everyone should focus on in their quarterly investment statements, what to focus on while you're working, and what to focus on when you're retired.

Episode 158: Managing Money Transitions

February 26, 2024 00:00 - 30 minutes - 27.5 MB

It might seem like life with your money is one continuous journey. In reality, it's a series of transitions from one phase of life to another. Managing your money while in the prime of your career is different from the last few years of it. Retiring is one of the biggest transitions of all. What about the transition of caring for your aging parents? Finally, we all transition to the end of life when making sure our family is cared for is mot important. In this episode, we discuss so...

Episode 157: More Income Means More Taxes

February 05, 2024 00:00 - 29 minutes - 27.5 MB

If you're a high-income earner, you are well aware of the fact that you pay more income tax on every dollar you earn. What you might not know about are some other hidden taxes and expenses you can trigger as your income increases. In this episode, we examine what can cause 85% of your Social Security to be taxed, how your Medicare premiums can skyrocket, and two taxes specifically aimed at wealthier families. We'll also share the latest tactic cyber-thieves are using to steal identi...

Episode 156: Replacing Your Paycheck In Retirement

January 29, 2024 00:00 - 29 minutes - 27.5 MB

Everyone understands that, to survive retirement, you have to replace the paycheck you gave up when you quit working. What's not as understood is exactly how to do that. In this episode, we'll discuss what you need to know to create your retirement paycheck. Later, we'll share insights into what the market might look in 12 months when interest rates stop going up.

Episode 155: The True Value of a Financial Advisor

January 22, 2024 00:00 - 29 minutes - 27.5 MB

One question most people ask when considering hiring a financial advisor is, "How much does it cost?" However, the real question you want answered is, "What value will a financial advisor add to my life for the fee I pay?" In this episode, we share the key services your advisor should provide to make your life easier. In addition, we'll discuss a Fidelity survey that found how much growth an advisor can add to your investments over time.

Episode 152: Your 2024 Financial To-Do List

January 18, 2024 00:00 - 29 minutes - 27.5 MB

The start of a new year is another opportunity to improve your life. Few things are as important as getting your financial house in order. In this episode, we share some of the key tasks and goals that should be on your financial to-do list in 2024.

Episode 153: Resolutions and Goals Are Different

January 18, 2024 00:00 - 29 minutes - 27.5 MB

Happy New Year! You've probably spent at least a few minutes thinking about your New Year's Resolutions. Did you know that there is a difference between Resolutions and Goals? In this episode, we share how knowing that difference can help bring your financial future into better focus.

Episode 150: The Widow's Penalty

January 18, 2024 00:00 - 29 minutes - 27.5 MB

There is no shortage of potential financial disasters that can befall us when we least expect them. We are especially vulnerable when dealing with the emotional damage of loss. In this episode, we discuss the "Widow's Penalty" that can cause a surviving spouse's taxes to double. Later, we explore how a Qualified Domestic Relations Order impacts spouses going through a divorce.

Episode 151: The Key To Making Informed $ Decisions

January 18, 2024 00:00 - 29 minutes - 27.4 MB

Unfortunately, financial literacy and education is not widely taught in school. Yet, when we graduate high school and become adults, we are expected to know how the world works. Often, we learn by making lots of mistakes. It doesn't have to be that painful. In this episode, we share how taking advantage of financial education can better equip you to answer the biggest financial question of all - will I run out of money in retirement?

Episode 154: What Your Advisor Should Be Doing For You

January 18, 2024 00:00 - 29 minutes - 27.4 MB

For most of our lives, we're focused on investing to grow wealth. Eventually, however, once we've amassed wealth, our focus changes and we are forced to make more decisions. The truth is that many retirement decisions have little to do with your investment portfolio. If that's all your financial advisor does, you risk making bad decisions on everything else, some of which can't be undone. In this episode, we share the full scope of services a true financial advisor should be able an...

Episode 148: Social Security Changes For 2024

January 15, 2024 00:00 - 29 minutes - 27.4 MB

Every new year brings changes to major retirement programs and Social Security is certainly no stranger to this. We'll share the key changes to Social Security you need to know for 2024. Plus, there are new scams out there designed to separate you from your money and personal identity information. Discover what you need to know to protect yourself.

Episode 149: Smart Money Moves For Millionaires

January 15, 2024 00:00 - 29 minutes - 27.5 MB

There are likely thousands of ways to become a Millionaire. However, the things that KEEP someone a Millionaire are surprisingly quite small in number. As anyone with lots of money can tell you, it's not about what you earn, it's about what you keep. In this episode, we share 5 simple money moves you should consider once you become a Millionaire.

Episode 147: $$ Solutions For Millionaires

October 30, 2023 00:00 - 29 minutes - 20.6 MB

When you become a Millionaire, you'll likely feel two emotions. First, you'll be thrilled. Second, you'll feel anxious about keeping it! The more money you have, the more important it is to consider all the ways you can grow and not lose it. In this episode, we share a handful of ways you can keep more of your money, including the importance of generating cash flow and reducing taxes.

Episode 146: Key Financial Concerns For Women

October 30, 2023 00:00 - 29 minutes - 20.6 MB

Women have a 90% probability of managing their money by themselves at some point. It's a well-known fact that women tend to outlive men, which means that women will ultimately control most of the wealth in the United States. In this episode, we share a new report that highlights some of the key concerns facing women and their wealth. We'll also share some tax saving strategies you can use and how you can use rising interest rates to your advantage.

Episode 145: Wall Street Doesn't Care About Politics

October 09, 2023 00:00 - 29 minutes - 20.6 MB

In 2023, we've seen two near-shutdowns of the U.S. government. The Speaker of the House of Representatives has been voted out of his position for the first time in history. Our nation seems more divided than ever. So what impact does all this have on the economy and stock market? Turns out, not much. In this episode, we explore why the stock market doesn't seem to care about what's happening in politics.

Episode 144: Managing A Cash Windfall

September 27, 2023 00:00 - 29 minutes - 20.6 MB

There are few things more exhilarating than having a boat load of cash deposited into your bank account. Sometimes, it's expected, like when you sell a business. Other times, it's unexpected, like when you receive a surprise inheritance. Whatever the reason, these are called Liquidity Events and they can bring equal parts thrills and chills. In this episode, we discuss some of the key things you should consider when you experience a major windfall of cash.

Episode 143: How To Build Your Dream Retirement

September 18, 2023 00:00 - 29 minutes - 20.6 MB

Building the retirement lifestyle of your dreams is a lot like building the house of your dreams. Planning begins long before you move in. From hiring the financial advisor that will design the plans, to choosing the different contractors that will build it, to updating and maintaining it, many decisions must be made before you can retire with confidence. In this episode, we give you a step by step guide to building your dream retirement.

Episode 140: How To Survive Retirement

September 11, 2023 00:00 - 29 minutes - 20.6 MB

Surviving retirement (AKA not running out of money) can be boiled down to just one key activity - cash flow management. Knowing how you will generate cash flow, when, and from where will be the primary things on your mind once you've given up a guaranteed paycheck. The only way you can do that is with an income plan. In this episode, we share how you can improve the odds that you won't run out of money in retirement.

Episode 142: Potential Headaches For Business Owners

September 11, 2023 00:00 - 29 minutes - 20.6 MB

Owning a business can create the lifestyle of your dreams. It can also create a host of problems when it comes to building your wealth and leaving a legacy to your heirs. In this episode, we explore why business owners need to have other investment interests, the #1 reason businesses don't sell, and complications that can arise when your heirs receive it.

Episode 141: 3 Things To Consider When Leaving An Inheritance

September 11, 2023 00:00 - 29 minutes - 20.6 MB

You spend 30-40 years accumulating wealth for yourself and your family. As the one who built it, you have great appreciation for how hard it is. What about the next generations who will inherit your wealth? Are you certain they will appreciate it? Do they share your values? Do they know your wishes? In this episode, we share 3 key things you should consider when planning the legacy you will leave to your heirs.

Episode 139: 3 Overlooked Wealth Preservation Strategies

August 21, 2023 00:00 - 30 minutes - 20.6 MB

When you become a Millionaire, you won't suddenly stop trying to grow your money. However, you may find that more of your focus is on preserving it now that you've got it. Becoming wealthy is only one half of the Millionaire equation. Keeping it is where many fail. In this episode, we share 3 wealth preservation strategies that often go overlooked.

Episode 138: Boring, Bland, Beautiful Bonds

August 14, 2023 00:00 - 29 minutes - 20.6 MB

To many investors, bonds are considered outcasts. They're boring, bland, and meant for the unadventurous. But don't be fooled. Bonds can check off several key boxes for your retirement plan and if you know how they work, you can optimize their power. In this episode, we share how bonds can be used to provide growth, income, protection, and tax efficiency for your retirement portfolio.

Episode 137: Can You Retire In A Recession?

August 07, 2023 00:00 - 29 minutes - 20.6 MB

Financially speaking, recession is about as dirty a word as you can find. Even if you don't exactly know what a recession is or how it's triggered, you know it's not good for your retirement savings. Which begs the question - can you retire in a recession? In this episode, we share why a recession shouldn't necessarily cause you to delay your retirement plans and simple strategies for playing defense with your money until the recession has passed.

Episode 136: Aspiring Millionaires In Focus

July 31, 2023 00:00 - 29 minutes - 20.6 MB

For more than two decades, the Great Wealth Transfer has been discussed and dissected every which way. As Baby Boomers retire and age, their Gen X, Millennials, and Gen Z are poised to inherit their legacy. It's vital that the next generations of wealth owners prepare themselves now to manage and grow it for themselves. In this special episode, we are joined by Lisa Ward, CFP® who shares how she is serving and coaching these Aspiring Millionaires.

Episode 135: Taxes Impact Everything

July 24, 2023 00:00 - 29 minutes - 20.6 MB

There is only one proven way to completely eliminate your tax bill to Uncle Sam. Stop earning income. Short of that, it's impossible to avoid all taxes. However, there are tax reduction strategies you can use in retirement to reduce and even avoid the bill Uncle Sam sends you. In this episode, we share the story of one family's retirement journey and the simple, yet effective, ways they reduced taxes throughout retirement.

Episode 134: 3 Wealth Solutions Millionaires Use

July 17, 2023 00:00 - 30 minutes - 20.6 MB

Most Millionaires know the best financial plans are not complicated. They are simple, easy to understand, and easy to implement. However, just because something is simple doesn't mean it isn't effective. In fact, the fewer moving parts a plan has, the more likely it will succeed. In this episode, we share 3 simple wealth solutions Millionaires are using to become and stay wealthy.

Episode 133: Unleash The Power of Non-Cash Assets

July 10, 2023 00:00 - 29 minutes - 20.6 MB

A common misperception is that wealthy people have piles of cash laying around. However, they would tell you the majority of their wealth is tied up in non-cash assets like real estate, businesses, minerals, metals, stocks, and the like. So, how do the wealthy unleash the power of their non-cash assets to access cash flow? Through the use of leverage. In this episode, we share how lines of credit can help you access cash flow while avoiding taxes and holding on to assets you want to...