The Financial Harmony™ Podcast

In this episode, Dr. Preston Cherry breaks down why emergency funds are a must—even for high earners. He explains that they act as financial protection, not an investment, and shares smart strategies to build and maintain one. From how much to save to balancing cash reserves with investments, this conversation clears up common myths and offers practical advice for managing money wisely. Key Points...

In this episode, Dr. Preston Cherry breaks down estate planning trusts and why they matter for high-income and high-net-worth folks—not just the uber-wealthy. He explains three key types: Revocable Living Trusts, Irrevocable Life Insurance Trusts, and Charitable Remainder Trusts, showing how they help protect assets, reduce taxes, and ensure your wishes are honored. Key Points: • Avoid probate has...

On this episode, Dr. Preston Cherry breaks down estate planning in a way that makes it clear: everyone needs a plan, not just the rich. He explains key documents like wills, living trusts, powers of attorney, and healthcare directives—tools that protect your assets and ensure your wishes are followed. He also shares strategies to avoid probate, minimize taxes, and keep your family from unnecessary...

In this episode, Dr. Preston Cherry delves into the complexities and benefits of incorporating annuities into retirement portfolios. With the startling statistic that 63% of Americans fear outliving their money more than death itself, Dr. Preston offers a comprehensive exploration of annuities as a solution to this anxiety. He clarifies misconceptions by defining annuities not as investments, but...

In this episode, Dr. Preston Cherry explores financial harmony, guiding listeners from financial anxiety to alignment by connecting money decisions with personal values. With 60% of Americans experiencing financial anxiety, Dr. Cherry presents a framework to help individuals and households align their finances with life goals. The episode also introduces the 6A alignment system, offering actionabl...

Building wealth through real estate is often promoted as a path to financial freedom, but it may not suit everyone, especially those in their 40s focusing on lifestyle and retirement goals. In this episode, Dr. Preston Cherry emphasizes prioritizing foundational investments like 401(k)s, IRAs, and brokerage accounts before considering real estate, as nearly half of real estate owners fail to achie...

In this episode, Dr. Preston Cherry dispels common myths about retirement age and encourages proactive emotional and financial preparation to ensure that retirement is approached with confidence and clarity. He emphasizes the significance of redefining retirement not just as an end but as a transition into a phase of freedom and opportunity. Key Points: • Redefine Retirement • Know Your Freedom Nu...

Are you falling into the trap of following the herd? In this episode, Dr. Preston Cherry breaks down why blindly imitating others can hurt your finances, especially when it leads to buying high and selling low. This episode emphasizes the importance of understanding one's long-term financial goals and matching investment actions to these objectives, avoiding impulsive decisions driven by fear...

There is a powerful link between gratitude and financial success, especially for Generation X. In this episode, Dr. Preston Cherry shares how combining gratitude with grit and grace can improve financial decisions and boost life satisfaction. Using the PERMA model, it explains how gratitude impacts the brain, enhances emotional well-being, and drives personal and financial success. Key Points: The...

In this episode, Dr. Preston Cherry and Shana Sissel discuss the importance of alternative investments in portfolio construction and risk management. They explore the vast universe of alternatives, how they can align with personal values, and the evolving landscape of investment strategies. Key Points: • Alternative investments offer diverse opportunities outside of traditional stocks and bonds. •...

In this episode, Dr. Preston Cherry talks about retirement income, breaking down the famous 4% rule with its creator, Bill Bengen, renowned for his groundbreaking work in retirement planning. Key Points: 1. The 4% rule should be seen as a flexible guideline rather than a strict rule, adaptable to individual retirement timelines and economic conditions. 2. Creating a diversified investment portfoli...

In this episode, Dr. Preston Cherry uncover the indispensable tax benefits of 401(k) plans and eliminate common misconceptions surrounding them. This episode brings to light the economic cycles and challenges Gen X has traversed, providing clear, actionable advice on navigating retirement planning amidst these complex realities. Want to learn more? Connect with us below! Pre-Order Dr. Cherry'...

In this episode, Dr. Preston Cherry delves into the crucial topic of balancing the present with saving for retirement. This episode tackles common financial regrets like under-saving for retirement, underestimating medical expenses, and the fear of outliving one's resources, all while promoting a harmonious life-money balance. Want to learn more? Connect with us below! Pre-Order Dr. Cherry&ap...

Optimizing open enrollment is crucial, yet often overlooked, with over 40% of individuals regretting missed opportunities. It’s important to remember that compensation includes not just salary but also benefits like medical and risk insurance, retirement contributions, and wellness perks. Failing to maximize these can leave financial value on the table. Key areas to focus on include reviewing reti...

In this episode, Dr. Preston Cherry explores the pros and cons of using Reddit for financial advice. He weighs the sense of community and user-driven insights against the risks of misinformation, emphasizing the value of personalized advice from trusted financial professionals. Want to learn more? Connect with us below! Pre-Order Dr. Cherry's book 'Wealth In The Key of Life' Sign up...

In this episode, the Cherrys explored the delicate balance between supporting adult children and fostering their financial independence. Charles emphasized the importance of teaching responsibility early, while Carla highlighted the long-term benefits of gradual but firm self-reliance. They discussed setting boundaries to prevent prolonged dependency and shared personal experiences to demonstrate...

Are Gen X Parents Ruining Retirement by Supporting Their Adult Children? In this episode, Dr. Preston Cherry delves into the critical issue of whether Gen X parents are jeopardizing their own retirement by financially supporting their adult children. By providing practical advice and discussing expert data, he equips parents with the tools to make informed decisions and set healthy financial bound...

In this episode, Dr. Preston D. Cherry delves into the intricacies of moving your 401k after leaving your job, featuring expert insights from Dr. Philip Gibson, a seasoned wealth advisor and chief compliance officer at Concurrent Financial Planning. Together, they explore both direct and indirect transfers of employer-sponsored plans, providing clarity on the 60-day rule and the potential 20% tax...

In this episode, Dr. Preston D. Cherry provides a comprehensive exploration into the world of luxury hotels, addressing the perennial question: Are luxury hotels worth it?  He delves into the critical alignment between personal finances and the value luxury accommodations bring to one's travel experience. Dr. Cherry offers clear and practical insights into the costs, benefits, and personal fa...

In this episode, Dr. Preston D. Cherry breaks down the true meaning of wealth, going beyond the numbers. He sheds light on how understanding and managing wealth can improve our quality of life by aligning financial and personal goals. Listen in for practical advice and a realistic view on how to use your financial resources to thrive in all areas of life. Want to learn more? Connect with us below!...

Join Dr. Preston D. Cherry and Dr. Renée Baker, as they dive deep into how aligning your life goals with smart financial planning can lead to true fulfillment. This episode is packed with valuable lessons on the importance of building strong relationships, being financially prepared, and keeping a growth mindset. Together, they inspire you to create a life where your dreams and finances thrive in...

Got a bonus check that feels smaller than expected? Don’t worry, you’re not alone! In this episode, Dr. Preston Cherry explores why bonus checks often feel like they’re taxed more heavily than regular paychecks and shares practical strategies to mitigate the tax impact. Want to learn more? Connect with us below! Dr. Preston D. Cherry on LinkedIn . Dr. Preston D. Cherry’s Website . Get your free we...

Join Dr. Preston D. Cherry and Josh Brown, as they talk about the multifaceted relationship between wealth, spending habits, and time management. Through engaging anecdotes and practical advice, Dr. Cherry and Josh Brown encourage listeners to rethink their approach to wealth, time, and overall well-being. Want to learn more? Connect with us below!  Josh Brown on LinkedIn . Dr. Preston D. Cherry o...

Join Dr. Preston D. Cherry and Danielle Miura, as they delve into the critical topic of long-term care conversations with loved ones. Plus, they break down the intricacies involved in navigating long-term care, from which topics to discuss to the financial implications of different care levels, such as in-home care and nursing homes.  Want to learn more? Connect with us below!  Danielle Miura on L...

Join Dr. Preston Cherry and Dr. Russell James, as they discuss how charitable giving and tax planning can work together. Plus, they break down tricky tax stuff, including how to deal with estate and income taxes smartly. Want to learn more? Connect with us below!  Dr. Russell James on LinkedIn Dr. Preston D. Cherry on LinkedIn Dr. Preston D. Cherry’s Website Ready to explore these tax planning str...