The Financial Purpose Podcast

Clients always want to know what I think politically and where I stand. In this episode, I share some data on the economy and even my opinion of the two presidential candidates and how their campaigns will likely spin narratives around economic data to their favor. As observers and participants in this democratic process, it’s essential to navigate these narratives wisely, armed with a comprehensi...

This topic has been heavy on my heart for a few weeks. March was an interesting month for our family, a mix of deep loss and also life stage celebration. In reflection, it’s been a stark reminder of my need - and your need - to place a better and more meaningful focus on a subject none of us like to think about but absolutely need to prepare for: the end of life. Listen to this episode as I bust 8...

If you’re running a business, you’ve probably come across the term EBITDA. Understanding this metric can be incredibly useful, providing insights into your company’s operating performance and helping to shape your strategic decisions. EBITDA is an acronym that stands for Earnings Before Interest, Taxes, Depreciation, and Amortization. It zeros in on the earnings from your business's core operation...

Bitcoin ETFs are officially available on US listed exchanges. This is a significant development in crypto trading. These ETFs providing greater access to the volatile yet potentially rewarding world of cryptocurrencies, particularly Bitcoin. As with any investment, careful consideration is crucial. Cryptocurrency is still is a tricky asset class for many investors when it comes to deciding if, whe...

Originally passed in 2021, the Corporate Transparency Act is now in effect. If you own a corporation or LLC created in the U.S. and registered with your respective state, there’s a good chance you will need to take action to comply with the law. This episode features special guest Wendy Anderson, Esq., Business Attorney. Wendy has been following this law since enacted, and she joins us on the Fina...

2023 might be one of the most unexpected years of all time, certainly as the markets and economy are concerned. It seemed like everyone was calling for a recession. It never came. Most unexpected might be the magnitude of the stock market rally, which looks to be ending the year with a punctuation mark! As we head into 2024, the major themes I’m watching include: * Potential for Fed rate cuts * Is...

Are you financially ready for year end? In this episode I share a few factors to consider between now and December 31st, including retirement planning, tax planning, 529 planning, and estate planning. Buckle up and take notes! This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit thefinancialpurpose.substack.com

Signs of economic uncertainty are showing up in more places throughout the BIG economy, which impacts the LOCAL economy that you and I intersect every day. From home prices to mortgage rates, car prices to auto loan rates, inflation to wages, there’s evidence the economy is slowing down a little… or, at least taking a breather. As the federal government continues deficit spending without much caut...

Many business owners start their businesses because they see a need they can solve, they’re tired of being paid less than their true value, and they want to work for themselves rather than someone else. One day you wake up and your business is running. Revenue is coming in, costs are going out, and you’re busier than ever. Ask yourself: is your operations engine running as efficiently as it could?...

In this episode of The Financial Purpose Podcast, I talk with Paloma Goggins, Corporate and M&A Attorney and founder of Nocturnal Legal. Listen for our discussion what business owners need to know about forming business entities, creating and maintaining good operating agreements, and most importantly - how to prepare for an eventual smooth exit by beginning with the end in mind. Visit https://noc...

Have you ever wondered how to choose the right financial advisor? Whether you’re looking to work with a financial advisor for the first time, or you are looking to change advisors, the looming question in your mind might be: HOW DO I CHOOSE THE RIGHT FINANCIAL ADVISOR… FOR ME? One thing I will admit is there’s no shortage of financial advisors in the world – In fact, when it was suggested to me by...

Today I want to talk about becoming a 1%er. I’m not talking about those that fall in the higher earning bracket…. Although that may be a goal for some… And, I’m not talking about that particular motorcycle club either…. But what I am talking about is Kaizen. Kaizen, in practice, usually delivers small improvements that yields big results over time. It starts by simply improving by 1% at a time. I...

“This isn’t going to be my story anymore…” In this episode of the Financial Purpose Podcast, I'm joined by special guest Sarah VanHoose for a conversation around how to change your money story. Listen to hear how she and her husband got serious about their money values, paying off more than $500,000 of debt in three years! And, hear how she decided to leave her corporate health care career to full...

Heard all the bad stories about reverse mortgages? Have you heard about the many ways a reverse mortgage can actually unlock financial freedom in retirement? In this episode of the Financial Purpose Podcast I'm joined by Reverse Mortgage Specialist Andrew Kish for a conversation on the power of reverse mortgages. Learn more about Andrew here. Learn more about sound financial planning and defining...

The term “how to stay broke” returns more than 694 MILLION Google search results! Apparently a lot of people are talking about and are concerned about this topic. A recent CNBC financial literacy survey found that 56% of respondents cited living paycheck-to-paycheck; also, 57% of people earning +$100,000 per year are concerned about the health of their personal finances. In this episode of the Fin...

Learn more about Claudine here: * Website:  https://virtualingenuityllc.com/ * Facebook:  https://www.facebook.com/Virtuallyexe * Instagram:  https://www.instagram.com/virtualingenuityllc/ * LinkedIn:  https://www.linkedin.com/in/claudineland/ * The Virtual Ingenuity Business Podcast on Apple Podcast:  * The Virtual Ingenuity Business Podcast on Spotify:  This is a public episode. If you would lik...

Honest investors can attest that stock picking is hard. A strong conviction pick can lead to out-performance one year and under-performance the next. Or, vice-versa. I recently saw a discussion on Twitter among financial professionals based on the following question: Without Googling the answer, what is the best performing US stock over the last 20 years? Some of the responses included companies l...

The U.S. debt ceiling is all over the news today, so let’s talk about it. Before 1917, Congress had the ability to use the Power of the Purse at their own discretion. In effort to make the federal government fiscally responsible, the debt ceiling was created. The debt ceiling cap currently stands at roughly $31.4tn. That limit was breached back in January. Is a U.S. default likely? Since 1960, Con...

The Fed raised rates again today - the 10th hike in this current cycle. Just 13 months ago the Fed funds range was 0.00%-0.25%; with today’s hike, it is now 5.00%-5.25%. The Fed funds rate is one of the primary monetary policy tools. By raising this rate, the Fed is slowing a heated economy by indirectly influencing consumer and business borrowing rates. In this episode of the Financial Purpose Po...

What services do you expect from your financial advisor? What are you actually getting? Think about it. Is there a gap between your advisory expectations and the reality? Research from SpectremGroup among wealthy investors shows there’s a massive gap in many crucial wealth management services. There are many reasons why such gaps may exist, including: * Speciality held by the advisor * Expectation...

You have four options available for your 401(k) plan when changing jobs... yet almost half of job changers cash out. A Harvard Business Review study found that approx. 41% of employees took a cash distribution when changing jobs... and 85% of those people cashed out the entire balance! This is called retirement leakage, and cashing out can be detrimental to your long-term financial and retirement...

Making better decisions requires an effective and structured process. Consistently following such a process can be challenging, especially when emotions come into play. Emotions can cloud our judgment and steer us away from the logical path. This generally leads to suboptimal outcomes. The natural goal is to consistently achieve good results by following a reliable decision-making process. However...

Since the pandemic, I have observed a drift in how people approach financial matters. People are slow to make important financial decisions, but faster to seek safety in times of volatility. In this episode of the Financial Purpose Podcast, I’m joined by Jamie L. Born, LCSW, CCTP to discuss how the continuum of mental health plays a role in money decisions. We discuss "Big T" and "little t" trauma...

This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit thefinancialpurpose.substack.com

Watch this episode here: https://youtu.be/HynJE7IH_l8 This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit thefinancialpurpose.substack.com