The Money Knight

Most people, when trying to plan their retirement, have to guess the answers to some important questions. It’s one of the reasons why you’re going to put yourself in a stronger position when you work with an experienced advisor that can use experience and data to provide you with answers. Today, we’ll talk about some of the questions that people are most commonly guessing at and tell you what migh...

Retirement is looking a lot different today than for previous generations. On today’s episode, we’re going to break down a USA Today article that breaks down 3 murky issues that increase retirement planning’s degree of difficulty. Are these issues really that threatening? If you're concerned, what should you be doing to address them? Millions of Americans are unfortunately lacking the very basic k...

The Chessman Wealth Strategies approach has always been about helping clients and their families make smart decisions when it comes to money. That happens in every aspect of the planning process, including working with the children to ensure that they know what they need to about their parents’ estate.   Today we want to explain the Smart Generations program in a little more detail and help make y...

The new year is always a good time to evaluate your plan and assess the areas where changes could impact your goals in 2022. Wade will take you through the biggest areas we’re watching at Chessman Wealth and what adjustments might need to be made to your financial plan moving forward. From inflation to taxes to Roth contributions, we’ll bring you up to speed on what’s new for 2022.   What we discu...

If we could predict everything in life, planning for retirement and the future would be a lot easier. We don’t know when the next stock market crash will take place, but we know it will happen at some point. You’ll want to make sure you have the right risk tolerance and implement strategies to protect your portfolio. What will healthcare costs look like in the future? We can assume they’ll be high...

If you have listened to the show, you may have heard us point out a couple of these items that distinguish Wade’s business from others. We will go over these points in-depth on today’s show and discuss why they are notable. Wade and his colleague advisors are all Certified Kingdom Advisors, meaning they have additional training in biblical finance. We can help our clients live out their faith with...

You’ve probably heard the word fiduciary but what does it actually mean and what’s the importance of this title? A fiduciary has to put the needs of their clients before their own. They must operate with full transparency. Not all financial professionals are held to this standard, so it’s important to know whether your advisor is a fiduciary. On today’s episode, we’ll explore why it’s an important...

Social security is one of the main pillars of retirement planning. However, many people do not realize how their benefit gets calculated. You need to have a plan when it comes to Social Security. Especially for a couple, maximizing your benefits is important. This can be a complicated topic, but we’ll discuss how they break up the percentages of your income and how inflation impacts these numbers...

We see a lot of people who aren’t getting the kind of advice and service from their financial advisor that they should be. So today, we will be discussing some general scenarios where your advisor may be dropping the ball. If your advisor is hyper-focusing on investments and not the details of your overall plan it may be time to rethink your relationship with them. They should be reviewing your ta...

Taxes may not be the most exciting conversation, but they are important! Today, we are talking about tax planning and why it’s important to retirement planning. Tax planning is part of our process and it’s not just something we do once a year. These strategies are important in keeping your overall plan efficient. We look at both the short-term and long-term strategies. As we reach the end of the y...

As our businesses grow it's important to stay true to our core values. On today’s episode, we are joined with Jim Fite to discuss his business Judge Fite Company and its growth through the Dallas, Texas area. Becoming an agent at 18 made him the youngest real estate agent in Texas history. Although college wasn’t for him, his father instilled the importance of continued education in him. This is s...

Estate planning is overwhelming, but it is a necessary part of our overall financial plan. Having a plan makes it a lot easier on our families when we pass away or become incapacitated. Continued communication is ideal, everyone involved in the plan needs to be on the same page. On today's episode, we are talking about Wade's recent seminar "Who Will Inherit the Mess?" and the key takeaways from h...

We want couples to be on the same page when it comes to financial planning and retirement. Despite any individual differences it’s important to plan together for the success and growth of your retirement plan. You and your spouse should be on the same page when it comes to risk management and how you will spend your investment money once in retirement. Planning out your Pension and Social Security...

Financial planning often focuses on the accumulation of wealth. But what about spending after we retire? What happens when we get to the decumulation phase of retirement? Spending will eventually happen whether that comes in the form of taxes or something else. Having a plan will help mitigate seen and unforeseen financial risks that may occur after retirement. Replacing our paycheck may sound dau...

Your advisor will always be available to provide information and data about financial planning, but how much do you actually know about them beyond the financial plan you’re building? On this episode of the podcast, we’ll pull back the curtain a bit and let Wade share what matters most for him in this industry. From his influences to his frustrations, we’ll learn more about Wade today.   What we d...

Wayne Walker is the Founder and Executive Director of OurCalling. A nonprofit organization dedicated to aiding the homeless community by giving them the tools and resources to transform their lives. OurCalling recognizes homelessness as a symptom of a deeper problem. The organization not only offers a hot meal and bed, but therapy relating to trauma, substances, and abuse. Wayne shares his passion...

Wes McDaniel is the Founder and Chief Executive Officer of Ideal Impact. Ideal Impact was founded for one purpose - to give back. Wes and his team of energy experts began working with Christian ministries in 2009 with the vision of reclaiming $1 Billion for these ministries to better accomplish their mission. Ideal Impact reached that goal. In 2015, Ideal Impact expanded their reach to Texas schoo...

Ironically, life insurance is a young man’s game. The perception among many people is that your need for life insurance dramatically decreases and perhaps becomes completely unnecessary as you age. Is that really the case? On this episode, let’s explore some ins and outs of life insurance and its various uses.   What we discuss on this episode:  0:50 – How much do you work with life insurance? 2:1...

The word diversification gets used a lot in the financial planning world but it typically refers to investing. Today we want to explain how to apply diversification to tax planning and why it’s important to utilize each of the three buckets: taxable, tax-deferred, and tax-free.   What we discuss on this episode:  0:32 – The concept of tax diversification 1:27 – The different buckets 6:10 – Balanci...

Today we speak with Jeff Wilson, Founder and CEO at Saxony Partners, someone Wade has known for more than 20 years. Wilson and his team at Saxony Partners have built a successful management and digital consulting firm through hard work and consistency. Find out his keys for starting a business, the highs and lows along the way, and how COVID created the toughest year yet.      What we discuss on t...

Business owners may be particularly vulnerable to some misconceptions and false assumptions about their retirement. Let’s address a few of these issues on today’s show. Important Links: Chessman Wealth Website:  https://www.chessmanwealth.com Call: 214-572-2120

Wade invites in long-time friend and the CEO Mile Marker, Jud Mackrill. They discuss how business owners need to build a plan and identity that both they and their workers can understand and buy into. They also discuss other common mistakes they see by business owners just starting out, and how Jud has grown as a business owner to his current position today.   Important Links: Chessman Wealth Webs...

Many financial circumstances that you’ll find yourself in have both positive and negative aspects. Decisions that you can make have both good and bad consequences. Or as Sir Isaac Newton put it: ”For every action, there is an equal and opposite reaction.” Important Links: Chessman Wealth Website:  https://www.chessmanwealth.com Call: 214-572-2120

We invite a special guest from the Chessman Wealth office, Sean Phillips. Sean is the Vice President of Wealth Management and Wealth Advisor with a speciality in tax planning. We thought this would be a great time to have him on the show as you get ready to file your 2020 taxes. We cover some of the changes you need to be aware of and answer some common tax questions. Important Links: More Info Ab...

Sometimes the easiest way to learn about something is make it really simple. Like some of the first true/false tests you might have taken in school, let’s play a round of fact or fiction to test your financial planning acuity. Important Links: Chessman Wealth Website:  https://www.chessmanwealth.com Call: 214-572-2120