Best In Wealth Podcast

Are you feeling positive or negative about the world today? Have you been watching the financial news and feeling a sense of doom because everything they report is negative? Do you feel like inflation is out of control? I am here to tell you that we have reason to remain hopeful and optimistic. I share why in this episode of Best in Wealth. [bctt tweet="With all of the news surrounding inflation,...

Did you watch the NCAA basketball tournament? Did you fill out an NCAA bracket? An estimated 1 in 4 Americans filled out a bracket to try and predict who is going to win it all. I do not watch a lot of basketball, but I still fill out a bracket every year. This year’s tournament was a wild and crazy ride. There were numerous upsets. What is your strategy for filling out your bracket? Do you guess?...

As family stewards, we think of wealth differently. Many people focus on money. Our wealth might be our family, spirituality, friends, etc. Money might be further down the list. So how do vacations make you wealthy? When you are healthy, you are wealthy . Anyone who struggles with chronic illness would give anything for their health. In the article “ Importance of Taking a Vacation ,” Kathryn Isha...

David Booth—the Co-Founder and Executive Chairman of Dimensional Fund Advisors—recently penned an article entitled, “ What’s Your True Net Worth? ” Here is the thing—your true net worth is not a calculation of your wealth. It stems from what you value . Find out what I mean in this episode of the Best in Wealth podcast! [bctt tweet="What is Your TRUE Net Worth? Find out what it really means in epi...

According to  CNBC , 56% of Americans can’t cover a $1,000 emergency. They do not have enough money in the bank. If that is you, start building an emergency fund now . Dave Ramsey recommends saving $1,000 in the bank immediately. Then, you take any extra money you have and pay off your debt. After that, work to build savings of 3–6 months of living expenses. But once you have that, what do you do...

I have received many calls and questions from clients, friends, and family about how bad things were in 2022 and what they think is going to happen in 2023. I do not blame them. With the global pandemic, rapid inflation, the war in Ukraine, and the volatile stock and bond market, it is reasonable to feel uneasy. If you had knowledge of future events for the year 2020–2022—but did not know where th...

In the article, “ The Art and Science of Spending Money ,” Morgan Housel talks about the psychology behind spending money. I’m going to talk about the six points she made that hit home for me. Why? Because we need to understand  why we are spending. I am a financial advisor. I want you to save money. But I also believe there needs to be a healthy balance between spending now and saving for the fut...

Think back to December 2019. Unemployment, interest rates, and inflation were historically low. Then what happened? A pandemic. By the end of March 2020, the S&P 500 had dropped nearly 20%. By the end of the year, scientists had developed a vaccine and markets roared back. Facebook, Apple, Amazon, Netflix, and Google (FAANG) stocks soared. Bitcoin and crypto reached record highs, then they cra...

Building good habits can be hard. Half of dieters give up within one week of starting. So what is the answer to lasting change? How do you make it easier to achieve? Dr. Sean Young studies behavior change. He has helped people develop good eating, sleeping, and exercise habits. He literally wrote the book, “ Stick with It: A Scientifically Proven Process for Changing Your Life-for Good. ” In episo...

What are your bad habits? When I finally climb into bed at night—I grab my phone and  start scrolling . Before I know it, 30–40 minutes have passed. Looking at screens right before bed negatively impacts sleep, yet I continue to do it. So in this episode of Best in Wealth, I share four “laws” from James Clear’s book, “Atomic Habits,” that will help you say goodbye to your bad habits. [bctt tweet="...

What question am I asked the most? It is usually along the lines of: “What do you think the stock market is going to do? When will we be out of this horrible downturn?  When will things turn around?”  These are the questions I will try and answer in today’s episode of the Best in Wealth podcast! [bctt tweet="What is driving the stock market gains? We share what we think it is and why it might stic...

It is time for open enrollment for every insurance option—including Medicare. Are you confused? You are not alone. If you are not 65 and do not qualify for Medicare yet—do not tune out. This episode is for you, too . Everyone nearing retirement age needs to understand the process and the costs. So in this episode of Best in Wealth, it is my goal to help you understand the basics of Medicare. [bctt...

I know what you are thinking—how could there possibly be cons to being rich? While everyone has a different definition of what “rich” is, most can agree that becoming rich would be life-changing. But I would argue that it is not always life-changing in a good way. Find out what I mean in this episode of Best in Wealth! [bctt tweet="What are the pros and cons of becoming rich? Hear my thoughts in t...

What brought meaning to your life today? I got to wake up healthy kids. I got to drink coffee with my wife. I got a text from my 24-year-old living hundreds of miles away. I help my clients navigate retirement. All of these things bring meaning to my life. Pew Research  surveyed 17 different countries to find out what was meaningful to each of them. In this episode of Best in Wealth, I cover some...

We cannot control the stock market, right? But there are many things we can  control. At Fortress Planning Group, we do intense tax planning to help you save every dollar you can. There are so many facets of financial planning to consider. Are you doing estate planning? Do you know how much insurance you need? Are you strategically optimizing your dividends and rebalancing so you buy at the lowest...

7 Tips to Help You Navigate Money in Your Marriage, Ep #205 Did you just get married? Or have kids about to get married? Maybe you fight about money and need to recommit to a healthier money mindset. Rachel Cruze wrote an article where she shared 7 tips for a healthy relationship with money in marriage. I will share what those tips are and what I might do differently. Even if you do not fight abou...

The first two quarters of 2022 were horrible in the stock market. The third quarter started well, but the last three-and-a-half weeks have not been great. One of my partners at Fortress Planning Group wrote an article about inflation, the Fed, and the midterm elections. In this episode of Best in Wealth, I am going to highlight some of Brian’s key points. My end goal is to encourage you to remain...

What should your net worth be? Where do you compare to the average investor? As a listener of this podcast, I think you are an above-average person. So what should your net worth be if you are above-average? In this episode of Best in Wealth, I share seven traits that make you an above-average person. Then I will share what the net worth of an above-average person might look like. Do nit miss this...

Are you in a place to help your kids, siblings, or friends? What if you want to help your parents financially?  How do you give money to loved ones? This is when things get dicey. This is not an easy subject to think about. But you will likely face it at some point during your life. So in this episode of Best in Wealth, I cover four things you NEED to consider before giving money to loved ones. [b...

Have you heard of George Kinder? He is a well-known life planning  expert . When it comes to retirement planning, it is not all about the money. The hard part is figuring out what is  important. George has come up with  three big questions  that I want  everyone  to think about. Each of the questions is tough to answer. It will take meditation, prayer, time alone, and conversations with your loved...

The book “ Your Money or Your Life ” by Vicki Robin was the book that is credited with launching the FIRE Movement. FIRE stands for “Financial Independence, Retire Early.” The FIRE Movement has exploded and become popular among Millennials. So what is the FIRE Movement? In this episode of Best in Wealth, I will share the three non-negotiable rules and three variations of the FIRE Movement. Do not...

The 6 Traits that Make You a Smart Person, Ep #199 What are the 6 traits that make you a smart person? Why is it important to exhibit these traits? “Smart” used to mean having access to information or memorizing endless facts and figures. That is an outdated belief. I believe that smart, ambitious, and hard-working people focus on soft skills. In this episode of Best in Wealth, I will share the 6...

As most of you know, inflation is high—higher than expected. Things do not look good in the news. Things do not look good in our portfolios either. As humans, when we feel like we are losing, we get the urge to sell our investments, sit on the cash, and wait on the sidelines for the news cycle to get better. It is natural and normal to feel nervous. The thought of selling everything likely crosses...

We are set to have one of the worst weeks in the stock market in a long time. The stock market was down over 20% the day this podcast was recorded—in bear market territory. We cannot control the market, no matter how much we would like to. But something that we can control—to some extent—is tax-loss harvesting . What is it? How can it help you avoid paying excess taxes? Learn what you need to know...

Has recency bias affected your investment decisions, now or in the past?  The Schwab BeFi 2021 study  found that recency bias is the most common behavior that advisors believe impacts clients’ decision-making. 78% of Millennials, 75% of the Silent Generation, 74% of Gen X, and 56% of Baby Boomers suffer from it. But what is recency bias? Why does it matter? What can you do about it so it does not...