Wealth in the Fifth Dimension

**Podcast Summary: Wealth in the Fifth Dimension** **Date: December 12, 2024** In this exciting episode of our newly rebranded podcast, "Wealth in the Fifth Dimension," I kicked things off with a funny story about a banker! This lighthearted moment really set the tone for our main topic: why I decided to change the podcast's name. I want to help all of you dive deeper into understanding your wealt...

**Podcast Summary: Wealth in the Fifth Dimension** Hey everyone! I’m excited to tell you about my new podcast called "Wealth in the Fifth Dimension." In this show, we're going to explore different kinds of wealth, not just money, and I’m creating a new business that’s really special—something you won’t find on Wall Street! We’re going to talk about something called "black swan events." These are s...

**Podcast Summary: Daily Podcast Relaunch** Hey everyone! I’m excited to share that my podcast is coming back after some time off. This time, I’m diving into a daily podcast for a whole year, 365 days! My goal is to document my new journey in wealth management, and I can’t wait to take you along for the ride. **Redefining Wealth Management** With over 15 years of experience, I’ve worked at some bi...

How do I make the best investment decisions?  This is a question I often get from clients and especially prospects. Investors should consider the quality of information they receive and the sources. To invest, you need predictions and forecasts. To make predictions and forecasts, a financial professional must have multiple sources of information. The data must be independent and stress tested...

In investing, biases can manifest in a variety of different forms. The first step is to recognize that we are all biased and must acknowledge this fact. As a financial planner, I assume I have a bias. Typical biases that I solve for are overconfidence, fear of loss, and status quo bias. There are more, but these are key. Creating some checkpoints to address the seen and unseen biases is critical....

Inches from gold. Life has an interesting way of teaching us priceless lessons. The other day as I attempted to wash my car, I had an interesting reflection about persistence, perseverance, and, ultimately, achievement. Many times, I've given up on projects probably too soon. So in today's episode, I will discuss the importance of perseverance as it relates to your goals... #goals

Taking my goals from me to we...

Many times when I hear updates on the economy they seem to be a little shortsighted. In evaluating the economic outlook we must play the short game while keeping the long game in perspective. Many people don't realize the role Russia plays in the world economy. There's also the phenomenon of not enough babies being born to sustain economic activity in the future and this has direct implications on...

Every year I create a 12-month or 18-month plan. That plan is then driven by mini projects every quarter and followed by a weekly reflection. One of my mentors used to say you can't hit something you're not aiming for. Do you believe this is true? In today's episode, I get personal about my planning process and talk to you about what I do to evaluate my assets and liabilities at the economic and h...

Where is the thumbs-down button? We live in a culture of toxic agreeableness The problem with this formula is that NO is not only an option but necessary. Imagine if you said YES to every opportunity. I have often said yes to things that later I regret. Not saying no creates a ticking time bomb that eventually creates an outburst and a lashing out. In investing, my work requires that I say no to i...

We live in the information age. And, information could be converted to knowledge. But, knowledge is not wisdom. Today, I had a day where nothing went as planned. Life showed up on life terms. The reason why I feel this topic is important is because I call myself a believer. And, then life shows up. And, I want to negotiate the terms with God. Today, I realize that calling myself a believer and bel...

Many people want to know if we are in a recession or going into one and when. The challenge for most investors is they are looking for an absolute answer in a place with abundant noise. Wall Street is noisy, and by the time they announce that something is happening by then, it's too late to be proactive about deciding what to do. In today's episode, I'm going to share with you how I make decisions...

You may have heard of the 1% principle. The one person principle is directly related to wealth. The problem with the one principle is that it works to create or destroy progress. Additionally, the principle applies to many other areas of our lives. Money, health, relationships and even spiritual growth.  Tune in today as we take a deep dive into this powerful concept… 

FEAR TERROR LOSS DANGER BEWARE These words are associated with the term RECESSION. These associations are responsible for financial mistakes that often cannot be erased. What if the word RECESSION was associated with OPPORTUNITY PROFIT A POSITIVE LIFE-CHANGING EVENT Do you think people would behave differently when introduced to the term RECESSION? What if I told you that over 126 companies, many...

The way to prepare for the next recession starts with nine dots. Huh? That's right, nine dots. So, how do you connect these nine dots with four consecutive straight lines? Believe it or not, the answer is the key to preparing for the next recession. Join me on the inside as I tackle how to solve this puzzle but, most importantly, how this puzzle relates to investing in volatile times and recession...

What is the Federal Reserve? Is it Federal? Most people don't understand how the Fed works and often bet against it. Interest rates going up, down, or staying flat have financial implications that impact our money. Many find the ramifications of interest rate policies when it's too late.  In today's episode, we deep dive into the Federal Reserve, what it is, how it works, and how its policies...

People on Wall Street build investment models. When I don't use their model they call me a chimpanzee. Don't people "chimps" build these models in the first place? Statisticians and model builders downplay human judgment that is until the model breaks and the human judgment tells them it's time to build a new model. Join me in today's episode as we discuss how to use the right information to make...

A client sent me this article a few days ago. What was your immediate reaction when you read this? It's disturbing. I got triggered. Did you? As a financial advisor for 14 years, I have trained myself not to react to these triggers and look at them for what they are. NOISE.  Is it right? In my opinion, absolutely not. But, most investors get triggered by political noise and jump to make decisions....

People on wall street will tell you to follow the models. I believe models have their place, but we are not at a point when PCs will take over humans soon in the investing world. What happened to the models during the financial crisis? Whose running the models on our budget deficit? In today's episode, we take a look at the role of the people vs. algorithms argument and how to evaluate both to mak...

Let's put ten people in a room and ask them to come up with a decision. Person 1 tells person two his decision. 2 tells 3 3 tells 4 And on and on until we get to person 10. Person 10 now has the information of persons 1-9.  Does that influence his decision? Multiply this situation by millions, and you have the stock market.  Join me today as we discuss informational cascades and what you...

We live in the age of information. This is supposed to be a good thing. Unfortunately, many investors don't realize that the market narrative and the thousands of financial opinions influence their mood. Think about it, how does your mood impact your decisions?  It's hard to analyze your mood.  Join me today as we discuss how to make sense of the current narrative so you can make good de...

Stock market noise is responsible for leading investors into costly, often irreversible decisions. The problem is that most people don't have the time or the know-how to navigate and understand noise and extract valuable information.  In today's episode, I dive deeply into helping you understand noise and how to embrace, utilize, and deploy the noise of the market to your benefit. Join me on...

Why is commitment so hard? Today I shot episode 61 of this new series in the podcast with the Joe Soto Project. At church over 2 months ago I had a conversation with God and I told him that I would shoot the podcast for 365 days. It's been a long week. I just finished reflecting on what happened last week and I still need to plan for the week to come. Part of me says who cares Joe you can just mis...

Why are we so quick to judge? The vast majority of financial advisors in the industry are not legally obligated to serve your best interest. Why do people continue to reward this behavior? Are they even aware that this is what they are doing? We have become conditioned to see the financial services industry in the worst possible way. This leads to bad judgment calls.  Join me in this episode...

Why do people freak out during market volatility? I believe people don't understand volatility and panic. If we cant, understand something We cant define it It's no wonder when we see something we don't understand and can't define show up, we freak out. Join me in today's episode to understand, define, and use market volatility to your advantage...