Purposeful Planning with Aspen Wealth Management

Is midlife destined to be a crisis, or can it be a time of positive reflection and renewal? In this episode of Purposeful Planning, we explore how to transform the traditional "midlife crisis" into an opportunity for meaningful growth. Learn how to assess your accomplishments, realign your priorities, and develop a financial roadmap for your "next act"—whether that's a traditional retirement, a hy...

Life's big moments, like marriage and having children, are exciting milestones. These milestones do require thoughtful financial planning. In this episode of Purposeful Planning, we explore essential financial moves for newly married couples and first-time parents. From budgeting and emergency funds to insurance and estate planning, discover how establishing good habits now can create security for...

We all know compounding can grow our wealth over time, but what about applying this powerful principle to other areas of our lives? In this episode of Purposeful Planning, we explore how the concept of compounding can enhance your knowledge, daily routines, reading habits, physical health, and even your emotional well-being. Discover how small, consistent actions in these areas can lead to remarka...

Money talks can make or break relationships, but many couples struggle to find the right balance. In this episode of Purposeful Planning, we explore how couples can build stronger financial communication, understand different money personalities, and create strategies for discussing shared and separate assets. Whether you're newly married or celebrating decades together, these tips can help streng...

Is tax efficiency driving your investment decisions? In this episode of Purposeful Planning, we explore how to balance tax minimization with wealth building. From retirement accounts to tax-loss harvesting, discover strategies that can help you maximize after-tax wealth without sacrificing long-term investment growth. Whether you're a seasoned investor or just starting out, these insights will hel...

When you’ve been diligently saving for your child’s or grandchild’s education, having extra money left in a 529 plan might seem like a good problem to have—but it’s still a problem that needs solving. In this episode, we’re breaking down your options for unused 529 funds, from Roth rollovers to saving for future generations. Tune in to learn how to maximize those savings without taking a tax hit!&...

As the year wraps up, it’s time to check more than just your holiday gift list. In today’s episode of Purposeful Planning, we’re diving into essential year-end financial tasks to keep your financial journey on track. From revisiting your budget to maximizing retirement contributions and charitable giving, these tips will help you make the most of the remaining days of 2024 and set yourself up for...

What if being thankful could make your retirement happier, healthier, and even wealthier? In today’s episode of Purposeful Planning, we’re diving into the power of gratitude and how practicing thankfulness can improve your well-being, enhance your financial decisions, and give your retirement a meaningful boost. If you’ve ever wondered how to create a truly fulfilling second act, this conversation...

Thinking about ways to set your grandkids up for a brighter future? In this episode of Purposeful Planning, we dive into options for grandparents who want to provide financial support, whether it’s for college, a first home, or even a head start on retirement savings. We’ll explore everything from 529 education plans to custodial Roth IRAs, each with its own benefits and tax advantages. Stay tuned...

In this episode of Purposeful Planning , we’re diving into a topic that may make investors feel like they’re on a rollercoaster: market volatility. When the market takes unexpected dips and rises, it can feel unsettling, but just like turbulence on a plane, the best approach is often to stay seated and ride it out. We’ll explore why long-term investment strategies typically outperform attempts at...

With online scams becoming more sophisticated—thanks in part to advances in AI—staying safe online has never been more critical. In this episode of Purposeful Planning, we dive into updated tips and strategies to protect your personal and financial information. We’ll cover crucial topics from traditional phishing scams to newer AI-driven schemes and share practical advice to keep you secure in an...

In this episode of Purposeful Planning, we explore the relationship between the financial markets and presidential elections. Many investors wonder how election outcomes affect their portfolios, but the truth may surprise you. From historical trends to the importance of diversification, we’ll break down what really matters when it comes to making intelligent investment decisions during election ye...

In this episode of "Purposeful Planning," we seek to guide soon-to-be graduates through the essential financial steps to take as they transition from academia to the workforce. Discover practical advice on budgeting, saving, and debt management, and learn why starting with the right financial habits now can lead to a prosperous future.     Sources:      https://w...

In this episode of "Purposeful Planning," we seek to guide soon-to-be graduates through the essential financial steps to take as they transition from academia to the workforce. Discover practical advice on budgeting, saving, and debt management, and learn why starting with the right financial habits now can lead to a prosperous future.     Sources:      https://c...

Join us on "Purposeful Planning" as we explore the robust benefits of 529 plans for education funding. Whether you're a parent or grandparent, discover how these tax-advantaged accounts can support your student's educational journey from K-12 to college and beyond while offering you significant estate and tax planning advantages.     Sources:      https://www.asp...

In this episode of "Purposeful Planning," we explore the financial journey through different life stages, from starting a career to planning for retirement and beyond. Join us as we share valuable insights and tips on focusing your financial strategies at each stage to help you maximize your resources and set a solid foundation for future generations.     Sources:   ...

This episode of "Purposeful Planning" examines the essential changes to the FAFSA for the 2024-25 academic year. Whether you're a parent preparing to send your child to college or a student stepping into higher education, understanding these updates is crucial. We'll explore how the FAFSA has been simplified, the new terminology and guidelines, and strategic tips for utilizing 529 plans effectivel...

This episode of "Purposeful Planning" challenges the common misconception that estate planning is only necessary for those with children. Whether you're single, childless, or just curious about the importance of a solid estate plan, join us as we explore why and how everyone should manage their legacy. We'll cover essential elements of estate planning, from wills to advance medical directives, and...

Dreaming of retiring on the open road? This episode of "Purposeful Planning" is for those envisioning retirement as a journey across the country in an RV. Join us as we delve into the nuances of the RV lifestyle, exploring the joys, costs, and practicalities of life on wheels. Whether you're considering a Class A, B, or C RV or even a tow-behind trailer, we cover what you need to know to make an i...

Join us on "Purposeful Planning" as we dissect the timely topic of managing a sudden financial windfall. Whether it's an inheritance, a lottery win, or another form of newfound wealth, it's tough to know where to start. This episode offers a strategic approach for planning your sudden wealth and helping it become a lasting benefit, covering everything from the initial steps after receiving a windf...

On this episode of "Purposeful Planning," we tackle one of the biggest concerns for those approaching retirement: income. Leaving behind the comfort of a paycheck can be intimidating, but with a well-structured budget, you can ensure a stress-free and financially secure retirement. Join us as we discuss practical steps for crafting a retirement budget that aligns with your lifestyle goals, explore...

In this episode, we explore the critical role of the fiduciary standard in the relationship between financial advisors and their clients, mirroring the trust you place in your doctor or mechanic. Understanding what it means for an advisor to act as a fiduciary can significantly impact your investment strategy and overall financial well-being. Listen as we explain the fiduciary standard and why ens...

"Equity Compensation and Your Financial Plan" dives into the complex world of stock options and stock units within the landscape of equity compensation. This episode of "Purposeful Planning" guides listeners through the stages of a professional career, from the early years of accumulation to the considerations for retirement, addressing the critical aspects of taxation and diversification. Join us...

Join us on "Purposeful Planning" as we embark on a generational journey through the values, financial behaviors, and investment strategies that define Baby Boomers, Gen X, Millennials, and Gen Z. This episode delves into how each generation's unique experiences shape their approach to saving, investing, and planning for the future. With insights tailored to every listener, regardless of generation...

Deciding on your home in retirement is challenging. Do I relocate, downsize, or stay put? In our latest episode of "Purposeful Planning," we outline some of the pros and cons for each consideration. If you missed any of our past episodes, you can hear them in your favorite podcast app, just click here and choose your player.   Get this briefing hands-free: Subscribe free to this show as a dai...