Every Day is Saturday

*This special episode replay is dedicated to Steve Shanesy.* Renee and Steve Shanesy were both working in high-stress marketing jobs in corporate America when they decided it was time to make a change. They were tired of leaving their pets behind every day to go into a job that was leaving them feeling tired and constantly stressed out. So, Renee quit her job to open up a first-of-its-kind luxury...

Why is being reasonable the key to long-term success in handling your money? In a world where emotions often intertwine with financial decisions, it's essential to recognize that you're not just a spreadsheet; you're a unique, emotional individual. In this episode, we delve into the importance of balancing reason and emotion in financial planning.  You can find show notes and more information by c...

With half of the wealth in the United States resting in the hands of the Boomer generation, the landscape is set for a shift as they age. In this episode, we discuss the complexities of the great wealth transfer, explaining potential pitfalls, the crucial consideration of taxes during the transfer, and the misconception that money alone can solve all problems.  You can find show notes and more inf...

Discover the secret to your long-term financial well-being in this episode as we dive into Brad's concept of "real net worth." While net worth is commonly used to gauge financial success and retirement readiness, the calculation is often misunderstood. In this episode, you'll learn about the nuances of your true assets and liabilities, going beyond conventional measures to see where you truly stan...

Choosing a financial advisory firm is a critical decision, and today, we'll dive into why Fiat stands out among the rest. We'll break down how, unlike firms dealing with trust funds or perpetual wealth, Fiat focuses on those transitioning from their working years to retirement, fostering relationships with clients they genuinely care about. Listen in to discover the significance of liking your fin...

Today we dive deep into the question of whether it makes sense to own a home as you transition into retirement. As retirement brings various life-changing decisions, the choice between owning and renting a home is a critical one. We'll present both sides of the argument, exploring the advantages and drawbacks. You can find show notes and more information by clicking here: https://www.fiatwm.com/po...

Today we dive into the insights and experiences gained over the years. We reflect on the lessons that have shaped our approach, the things we wish we knew when starting, and the areas where we might have taken a different path. From stepping into the unknown world of our first jobs to the realization that financial planning is not just about investments, we discuss the complexities of the industry...

Today we dive into the age-old debate: is all debt really bad? While it's true that debt always carries some level of risk, we challenge the notion that it's universally detrimental. We explore various scenarios where debt can be a useful financial tool and why taking out a mortgage, for example, might not be the financial bad guy it's often portrayed as.  You can find show notes and more informat...

How does the act of saving money impact your financial well-being, and why is it often underestimated or overlooked? In this episode, we will discuss Chapter 10 of The Psychology of Money by Morgan Housel, titled "Save Money." We dissect the influence your savings have on wealth-building—an aspect even more crucial than your income or investment returns.  You can find show notes and more informati...

Today we sit down with two special guests, William and Hudson, to have a candid conversation about an essential aspect of parenting: teaching kids about money. Raising financially savvy children is a challenge many parents face, and it's crucial to equip them with the knowledge and skills to make sound financial decisions as they grow. Whether you're a parent, grandparent, or simply someone eager...

What are the critical aspects of estate planning and the common pitfalls that people often face? In this episode, we delve into these questions and more with Jay Organek, VP of Legal Product at Wealth.com. Navigating the emotional complexities tied to inherited assets and finances can be challenging, so we start off by addressing a fundamental question: Why is it so important to think about your m...

Ever wondered about the difference between being rich and being truly wealthy? In this episode, Matt and Brad delve into the world of wealth, riches, and the perceptions that surround them. Drawing inspiration from The Psychology of Money by Morgan Housel, they explore the difference between being rich and being wealthy—and why it's essential to understand this distinction. You can find show notes...

Should you always max out your 401(k)? This is a big question that comes up often, so in this episode, Brad and Matt dive into this prevalent financial myth. Shedding light on five reasons why maximizing your 401(k) may not always be the best strategy, they emphasize the issue of liquidity and why building an emergency fund outside of the 401(k) becomes essential for financial security. You can fi...

Today we want to share a glimpse into the intentional lives led by individuals post-retirement. While many struggle to find their identity after leaving the workforce, there are those who have embraced an "Every Day is Saturday" lifestyle with a rockstar flair. Joining us in this episode are Anne Denny and Skip Stromberg, who share their inspiring journey leading up to retirement, their decision t...

Today we delve into the fundamental question: What makes people happy? Continuing our exploration of The Psychology of Money by Morgan Housel, we dive into chapters 7 and 8, where a revelation emerges: the key to happiness lies in our innate desire for control. The ability to shape our lives according to our desires, to choose our paths, companions, and destinations, emerges as the ultimate source...

Should you be concerned about Social Security and the impact it may have on your financial future? Dating back to its enactment in 1935, social security was envisioned as a means of providing support during the later stages of life when individuals might be unable to continue working. While concerns about its longevity persist, it is important to note that the program has been extended until 2037....

Have you ever wondered about the fees and expenses associated with investing? In today's episode, we dive into this topic headfirst as we explore three hypothetical client scenarios and shed light on the costs involved in different investment relationships. Throughout the episode, we unravel the truth that Wall Street doesn't work for free, emphasizing the importance of being mindful of fees in th...

For many, the pursuit of a rich and purposeful life is anything but a straight line. It consists of life experiences, uncomfortable situations, and transformative challenges. In this episode, Brad shares the insights he has learned from recently going back to graduate college as an older student, revealing how these pivotal (and somewhat uncomfortable) moments shape character and propel us towards...

As we delve into the world of precious metals, it's important to recognize that the allure of gold is not what it once was. Our ancestors coveted this precious metal for its aesthetic and cultural significance, whereas today we see it as a symbol of wealth and a potential investment opportunity. However, the question remains: is gold truly a wise investment? You can find show notes and more inform...

Today we'll be diving into chapter 6 of Morgan Housel's book, The Psychology of Money . This chapter, entitled "Tales You Win", explores the intriguing idea that being wrong half of the time can still lead to financial success. Our discussion will focus on being on the brink of success and failure, as well as how perseverance—even when met with repeated failures—is the key to success in investing....

Have you ever thought about starting your investing journey, only to be overwhelmed by the amount of information available? Were you left feeling unsure of where to even begin? In this episode, we dissect the world of investing with Kurt Brown, the CEO of TownSquare. Kurt shares his fascinating journey of transitioning from Wall Street to becoming the CEO of an investment platform and reveals why...

Have you ever wondered how people find their calling in finance and what it takes to succeed in a small business environment? In this episode, Cooper Hitt, Investment and Reporting Manager at Fiat Wealth Management, shares his inspiring story of how he discovered his passion for finance and joined the team at Fiat. Cooper describes his journey through his career and personal growth, revealing how...

Get ready to unlock the secrets of the tax world in this episode as we welcome Carly Carlson, CPA and Managing Member at WE Team LLC, to share her expert insights on taxes. Taxes can be a daunting topic for many of us, but Carly is here to demystify it all and help us understand why finding the right accounting firm for your business is crucial. You can find show notes and more information by clic...

Are you feeling anxious about market volatility and how it may impact your investments? In the past year, the S&P 500 has seen a 20% decrease, with almost every sector experiencing significant losses. So, how can you stay invested and make wise financial decisions—even when faced with market volatility? Today we provide a market recap and discuss how context is critical when it comes to making sou...

What is the secret to maintaining wealth over the long term, and why do so many people struggle with it? In this episode, we delve into the often-overlooked aspect of maintaining wealth, and why it's such a challenging task for many people. The key to staying wealthy is a combination of frugality and paranoia, and we explore the survival mentality that is crucial to long-term success. You can find...