Trust the Plan Podcast with Nick Hopwood, CFP® and Jim Pilat, CFP®

In this episode, Nick Hopwood, CFP® sits down with former Michigan Daily writer, Chris Duprey. Chris spent his college years at the University of Michigan working as a sports writer for the newspaper. We delve into how he got his start, some of his favorite memories of writing for The Michigan Daily, and lessons he learned along the way. Chris shares his expert insight on the current Michigan Wolv...

Owning a rental property can be a great way to generate passive income and build wealth over time. However, like any investment, there are risks and downsides to consider. In this episode, Nick Hopwood, CFP® and Jim Pilat, CFP® of Peak Wealth Management explore the cons of owning a rental property and how to mitigate them. Nick shares his personal experience of handling multiple rental properties...

Nick Hopwood, CFP® and Jim Pilat, CFP® of Peak Wealth Management discuss the recent news that student loan payments will resume October 2023 after being paused due to the COVID-19 pandemic. Nick and Jim explore the impact this will have on students and graduates who have been relying on the pause in payments to help with financial stability during a difficult time. We also delve into how this deci...

Welcome to today's episode of the Trust the Plan Podcast, where Nick Hopwood, CFP® and Jim Pilat, CFP® discuss the recent news that Fitch, one of the major credit rating agencies, has downgraded the U.S. economy's debt rating from AAA to AA+. In this episode, we'll explore the implications of this news for the U.S. economy, investors, and taxpayers. We'll also discuss what this downgrade means for...

Join us for an inspiring episode with Nick Hopwood, CFP® and Jim Pilat, CFP® as they delve into the life and career of Olivia Atkin, a podcaster, author and successful entrepreneur. We'll examine the key moments and experiences that have shaped her journey. As the host of the Achieving Success Podcast, she has captivated audiences with her informative and engaging discussions. Her book, Achieving...

In today's competitive and ever-changing job market, diversifying your income has become more important than ever. In this episode of the Trust the Plan Podcast, Nick Hopwood, CFP® is joined by Preston Gee, CFP® to discuss the benefits and strategies of generating multiple streams of income. At Peak Wealth Management, they've developed a formula on diversifying income for their clients called Peak...

In this episode, Nick Hopwood, CFP® and Preston Gee, CFP® of Peak Wealth Management shed light on the significance of understanding one's assets, liabilities, and overall financial health in order to make informed decisions and achieve long-term financial goals.  Listeners can expect to gain a comprehensive understanding of the different components that contribute to net worth, such as investments...

Many Americans are mistaken about their financial preparedness for retirement. But overconfidence skews higher for the wealthy than for others, according to a new report. It is believed that booming stock and housing markets may have contributed to a "wealth illusion" among high-income households. In this episode, Nick Hopwood, CFP® and Preston Gee, CFP® of Peak Wealth Management discuss the impor...

Summertime is the perfect time for a mid-year tax checkup. A tax checkup will help you avoid being surprised with a potentially large tax bill and may help uncover ways you can save throughout the rest of the year. Join Nick Hopwood, CFP® and Preston Gee, CFP® of Peak Wealth Management as they explore the opportunities for both W2 employees and small business owners. Learn more about the benefits...

In this episode, Nick Hopwood, CFP® is joined by Preston Gee, CFP® to talk about the investment strategies of Gen Z. From single stocks to cryptocurrency, listen to this episode to learn more about how the next generation invests their money. — Peak Wealth Management is a financial planning and wealth management firm in Plymouth, MI. We believe by providing education and guidance, we inspire our c...

Once upon a time, tipping was relatively simple. You might add 10% to 15% to your restaurant bill for the server or hand a dollar or two to the valet who parked your car. But now, it feels as though tipping has become the expectation everywhere. In this episode, Nick Hopwood, CFP® and Jim Pilat, CFP® of Peak Wealth Management talk about 'guilt tipping' — and how the pressure to tip has gotten out...

Nick Hopwood, CFP® and Jim Pilat, CFP® of Peak Wealth Management discuss the top 5 mistakes most people make with their money. Which one(s) do you relate to? They also talk about the difference between a scarcity and abundance mindset - and how the perspective you have impacts your finances. — Peak Wealth Management is a financial planning and wealth management firm in Plymouth, MI. We believe by...

Nick Hopwood, CFP® is joined by special guest, Jennifer Frush. Jennifer is the executive director of New Hope Center for Grief Support. The Northville-based organization is dedicated to bringing hope, healing, and new beginnings to adults and children grieving the death of a loved one. In this episode, Jennifer shares more about the mission and programs of New Hope — and how it has grown since it...

Summer is here- and we are back to bring you an updated version of one of our most popular podcast episodes... The true cost per boat ride. (Original EP is #60). Listen to Nick Hopwood, CFP® and Jim Pilat, CFP® of Peak Wealth Management talk about how each boat ride adds up. — Peak Wealth Management is a financial planning and wealth management firm in Plymouth, MI. We believe by providing educati...

In this episode, Nick Hopwood, CFP® and Jim Pilat, CFP® of Peak Wealth Management talk about how rich young Americans reinvest their money. The avenues may not all be what you think. Listen to hear Nick and Jim also talk about the importance of diversifying your portfolio.  — Peak Wealth Management is a financial planning and wealth management firm in Plymouth, MI. We believe by providing educatio...

Nick Hopwood, CFP® and Jim Pilat, CFP® of Peak Wealth Management said they are frequently asked by clients about how to invest in precious metals. In this episode, Nick and Jim talk about their recommended ways to buy gold in addition to how to add it to your investment portfolio at Peak. — Peak Wealth Management is a financial planning and wealth management firm in Plymouth, MI. We believe by pro...

In this episode, Nick Hopwood, CFP® and Jim Pilat, CFP® of Peak Wealth Management talk about how people are deciding to park their money in one asset class due to rising interest rates. Nick and Jim talk about how we must plan long-term by diversifying where our money is invested. — Peak Wealth Management is a financial planning and wealth management firm in Plymouth, MI. We believe by providing e...

In this episode of the Trust the Plan Podcast, Nick Hopwood, CFP® is joined by Preston Gee, CFP®. The duo talk about house hacking- and the benefit it has for people looking for ways to generate extra income. House hacking traditionally means buying a multifamily property, living in one unit and renting out the others so that the tenants pay the owner's mortgage, and the owner builds equity while...

Nick Hopwood, CFP® is joined by Peak's Preston Gee, wealth advisor. In this episode, Preston talks about becoming certified as a financial planner — and shares the process it took for him to accomplish his dream.  — Peak Wealth Management is a financial planning and wealth management firm in Plymouth, MI. We believe by providing education and guidance, we inspire our clients to make great decision...

In a recent article, Nick Hopwood, CFP® and Jim Pilat, CFP® read that 1 in 4 boomers said they didn't start saving for retirement until they turned 50 — and over a third of them still say they have no retirement savings at all, according to a 2022 survey from mortgage information website Anytime Estimate. Even if you are one of the many Americans falling short of what they expected to have stashed...

Nick Hopwood, CFP® and Jim Pilat, CFP® of Peak Wealth Management talk about how in a recent article on MarketWatch, a study said 50 percent of people are more likely to trust a family member or friend with their finances over an expert. Listen to Nick and Jim talk about why talking to a CFP® is much more beneficial for financial success. — Peak Wealth Management is a financial planning and wealth...

Nick Hopwood, CFP® and Jim Pilat, CFP® of Peak Wealth Management discuss filing benefits you can take advantage of while planning for tax season. They also talk about tax credits for small business owners. This is an episode you'll want to save so you can listen to every year! — Peak Wealth Management is a financial planning and wealth management firm in Plymouth, MI. We believe by providing educa...

In this episode, Nick Hopwood, CFP® and Jim Pilat, CFP® of Peak Wealth Management talk about the responsibility that comes with being a fiduciary. Learn more about how working with a trusted fiduciary benefits you.  — Peak Wealth Management is a financial planning and wealth management firm in Plymouth, MI. We believe by providing education and guidance, we inspire our clients to make great decisi...

Nick Hopwood, CFP® and Jim Pilat, CFP® talk about how people can get caught up in living a higher lifestyle to keep up with others around them. They discuss how important it is for us to think about how our spending choices impact our long-term financial goals. — Peak Wealth Management is a financial planning and wealth management firm in Plymouth, MI. We believe by providing education and guidanc...

In this episode, Nick Hopwood, CFP® and Jim Pilat, CFP® of Peak Wealth Management talk about Income Related Monthly Adjustment Amounts (IRMAA). IRMAA is a surcharge that people with income above a certain amount must pay in addition to their Medicare Part B and Part D premiums. The Social Security Administration (SSA) determines who pays an IRMAA based on the income reported 2 years prior. Listen...