What makes for a happy retirement? According to Merrill Lynch, “Only 51% of 25–34 year old's say that they often feel happy compared to 76% of people ages 65–74.” So what makes them happy? An article entitled “ Why 72% of Retirees Are Happy ” talks about three financial traits and six non-financial traits of happy retirees. What are these 9 traits? Find out what they are—and if you are implementing them—in this episode of Best in Wealth. [bctt tweet="What are the 9 traits of a happy retirement? ...
Sep 15, 2023•20 min•Ep. 230
I recently read an article by David Booth—the executive chairman of Dimensional Fund Advisors—titled “ Practicing Healthy Habits, Pursuing Wealthy Outcomes .” In the article, David shares some correlations he saw between health and investing after reading “ Outlive: The Science and Art of Longevity ” by Peter Attia. The book dissects scientific research on aging to explore strategies to live longer and healthier. David saw some parallels between how we talk about health and think about investing...
Sep 01, 2023•21 min•Ep. 229
Is social security going to run out in 2033? If I am a high-income earner, will social security reduce my benefit? For those of us who have planned for social security, as we are getting closer and closer to retirement, do we have cause to be anxious? In this episode of Best in Wealth I will answer both questions (but do not be afraid). [bctt tweet="Is social security going to run out in 2033? Listen to episode #228 of Best in Wealth and I’ll break it down for you! #wealth #retirement #investing...
Aug 18, 2023•25 min•Ep. 228
Have you thought about purchasing a second home? Does it sound nice to have a place to vacation that is all yours? Do you dream of owning a Florida home or a cabin “up north?” Have you considered the pros and cons of owning a second home? Before a second home becomes part of your dream retirement, consider some of these pros and cons so you can make the best decision for you. [bctt tweet="What are the pros and cons of owning a second home? Find out in this episode of Best in Wealth! #wealth #ret...
Aug 04, 2023•20 min•Ep. 227
I have client after client tell me that the world is going to hell in a handbasket. Leaders gain power by vowing a return to the “Good ‘ol days.” But is your mind playing tricks on you? According to research by Adam Mastroianni and Daniel Gilbert, your brain has tricked you into thinking everything is worse. There is a set of cognitive biases in our brains that cause us to perceive a fall from grace—even when it has not happened. These well-established psychological phenomena have us focusing on...
Jul 21, 2023•18 min•Ep. 226
What is a financial power of attorney? The financial power of attorney is a legal document where you specify individuals to act on your behalf in financial matters if / when you become incapacitated . If you become incapacitated, someone still has to pay your bills. Who is going to do it? Life must go on. If you do not have a financial power of attorney, who makes the decisions? The court. So many people do not have any estate planning documents because they think they are too young. They think ...
Jul 07, 2023•19 min•Ep. 225
Over the years doing this podcast, I have clearly stated that you cannot time the market and you should never try. But what about asset classes? Can you predict when one asset class will do better than another? Should you try? In this episode of Best in Wealth, I look at how value stocks and growth stocks have performed in the last few years. I will nail down why staying disciplined in asset classes is just as important as not timing the market. Check it out! [bctt tweet="Why is it important to ...
Jun 23, 2023•16 min•Ep. 224
In 1991, I traveled to Alaska with three friends to get rich. Why? We had learned that we could make $5,000–$7,000 a month working in Alaska over the Summer. I thought I would leave Alaska having made $25,000. I was going to be rich . I was going to get a new mountain bike, leather jackets, and 100 new CDs. My list went on. What happened? We only worked for a month and a half. I did not get rich that summer. But how do you know if you’re rich or not? What does it mean to be rich? What is your de...
Jun 09, 2023•16 min•Ep. 223
I read an article titled, “ The Sinister Side of Work Ethic ,” and it got me thinking. I love work ethic. I believe God made us to work. But what is work ethic? Work ethic is defined as “The principle that hard work is intrinsically virtuous or worthy of reward.” Is that the way you see work ethic? What is your definition of work ethic? How does the concept of “life ethic” fit into the mix? Learn more about how to balance life and work ethic in this episode of Best in Wealth. [bctt tweet="What i...
May 26, 2023•15 min•Ep. 222
Many people greatly fear the thought of a recession. They cannot handle the idea that their investment portfolio will decline in value. They cannot handle the volatility. Fear leads people to make poor decisions. But I do not believe you should be afraid of a recession. Why? I share why you have reason to remain hopeful in this episode of Best in Wealth! [bctt tweet="I share why a recession shouldn’t scare you in this episode of Best in Wealth! #wealth #retirement #investing #PersonalFinance #Fi...
May 12, 2023•21 min•Ep. 221
Are you feeling positive or negative about the world today? Have you been watching the financial news and feeling a sense of doom because everything they report is negative? Do you feel like inflation is out of control? I am here to tell you that we have reason to remain hopeful and optimistic. I share why in this episode of Best in Wealth. [bctt tweet="With all of the news surrounding inflation, I still believe that we have reason to remain hopeful. Find out why in this episode of Best in Wealt...
Apr 28, 2023•15 min•Ep. 220
Did you watch the NCAA basketball tournament? Did you fill out an NCAA bracket? An estimated 1 in 4 Americans filled out a bracket to try and predict who is going to win it all. I do not watch a lot of basketball, but I still fill out a bracket every year. This year’s tournament was a wild and crazy ride. There were numerous upsets. What is your strategy for filling out your bracket? Do you guess? Do you fill it in based on the best seed? Or are you like my admin and you make choices based on ho...
Apr 14, 2023•17 min•Ep. 219
As family stewards, we think of wealth differently. Many people focus on money. Our wealth might be our family, spirituality, friends, etc. Money might be further down the list. So how do vacations make you wealthy? When you are healthy, you are wealthy . Anyone who struggles with chronic illness would give anything for their health. In the article “ Importance of Taking a Vacation ,” Kathryn Isham shares seven health benefits of taking vacations. In this episode of Best in Wealth, I will share ...
Mar 31, 2023•18 min•Ep. 218
David Booth—the Co-Founder and Executive Chairman of Dimensional Fund Advisors—recently penned an article entitled, “ What’s Your True Net Worth? ” Here is the thing—your true net worth is not a calculation of your wealth. It stems from what you value . Find out what I mean in this episode of the Best in Wealth podcast! [bctt tweet="What is Your TRUE Net Worth? Find out what it really means in episode #217 of Best in Wealth! #wealth #retirement #investing #PersonalFinance #FinancialPlanning #Ret...
Mar 17, 2023•20 min•Ep. 217
According to CNBC , 56% of Americans can’t cover a $1,000 emergency. They do not have enough money in the bank. If that is you, start building an emergency fund now . Dave Ramsey recommends saving $1,000 in the bank immediately. Then, you take any extra money you have and pay off your debt. After that, work to build savings of 3–6 months of living expenses. But once you have that, what do you do with the money? Where should you keep it? In this episode of Best in Wealth, I share the best way to ...
Mar 03, 2023•22 min•Ep. 216
I have received many calls and questions from clients, friends, and family about how bad things were in 2022 and what they think is going to happen in 2023. I do not blame them. With the global pandemic, rapid inflation, the war in Ukraine, and the volatile stock and bond market, it is reasonable to feel uneasy. If you had knowledge of future events for the year 2020–2022—but did not know where the stock market would land—what would you have predicted? Probably not the 25% positive return that w...
Feb 17, 2023•21 min•Ep. 215
In the article, “ The Art and Science of Spending Money ,” Morgan Housel talks about the psychology behind spending money. I’m going to talk about the six points she made that hit home for me. Why? Because we need to understand why we are spending. I am a financial advisor. I want you to save money. But I also believe there needs to be a healthy balance between spending now and saving for the future. Maybe you are cutting back too much. Or you are spending too much and not saving for the future....
Feb 03, 2023•25 min•Ep. 214
Think back to December 2019. Unemployment, interest rates, and inflation were historically low. Then what happened? A pandemic. By the end of March 2020, the S&P 500 had dropped nearly 20%. By the end of the year, scientists had developed a vaccine and markets roared back. Facebook, Apple, Amazon, Netflix, and Google (FAANG) stocks soared. Bitcoin and crypto reached record highs, then they crashed. Meme stocks soared, then toppled. Inflation spiked to the highest levels most of us have ever ...
Jan 20, 2023•15 min•Ep. 213
Building good habits can be hard. Half of dieters give up within one week of starting. So what is the answer to lasting change? How do you make it easier to achieve? Dr. Sean Young studies behavior change. He has helped people develop good eating, sleeping, and exercise habits. He literally wrote the book, “ Stick with It: A Scientifically Proven Process for Changing Your Life-for Good. ” In episode #211, I covered how to break bad habits. So in this episode of Best in Wealth, we are going to co...
Jan 06, 2023•19 min•Ep. 212
What are your bad habits? When I finally climb into bed at night—I grab my phone and start scrolling . Before I know it, 30–40 minutes have passed. Looking at screens right before bed negatively impacts sleep, yet I continue to do it. So in this episode of Best in Wealth, I share four “laws” from James Clear’s book, “Atomic Habits,” that will help you say goodbye to your bad habits. [bctt tweet="In this episode of Best in Wealth, I share four “laws” from James Clear’s book, “Atomic Habits,” that...
Dec 23, 2022•16 min•Ep. 211
What question am I asked the most? It is usually along the lines of: “What do you think the stock market is going to do? When will we be out of this horrible downturn? When will things turn around?” These are the questions I will try and answer in today’s episode of the Best in Wealth podcast! [bctt tweet="What is driving the stock market gains? We share what we think it is and why it might stick in this episode of Best in Wealth! #wealth #retirement #investing #PersonalFinance #FinancialPlannin...
Dec 09, 2022•17 min•Ep. 210
It is time for open enrollment for every insurance option—including Medicare. Are you confused? You are not alone. If you are not 65 and do not qualify for Medicare yet—do not tune out. This episode is for you, too . Everyone nearing retirement age needs to understand the process and the costs. So in this episode of Best in Wealth, it is my goal to help you understand the basics of Medicare. [bctt tweet="In this episode, I share a simple guide to understanding Medicare. This is something everyon...
Nov 25, 2022•26 min•Ep. 209
I know what you are thinking—how could there possibly be cons to being rich? While everyone has a different definition of what “rich” is, most can agree that becoming rich would be life-changing. But I would argue that it is not always life-changing in a good way. Find out what I mean in this episode of Best in Wealth! [bctt tweet="What are the pros and cons of becoming rich? Hear my thoughts in this episode of Best in Wealth! #wealth #retirement #investing #PersonalFinance #FinancialPlanning #R...
Nov 11, 2022•17 min•Ep. 208
What brought meaning to your life today? I got to wake up healthy kids. I got to drink coffee with my wife. I got a text from my 24-year-old living hundreds of miles away. I help my clients navigate retirement. All of these things bring meaning to my life. Pew Research surveyed 17 different countries to find out what was meaningful to each of them. In this episode of Best in Wealth, I cover some of the results of this study and share why a meaningful life is an important piece of retirement plan...
Oct 28, 2022•20 min•Ep. 207
We cannot control the stock market, right? But there are many things we can control. At Fortress Planning Group, we do intense tax planning to help you save every dollar you can. There are so many facets of financial planning to consider. Are you doing estate planning? Do you know how much insurance you need? Are you strategically optimizing your dividends and rebalancing so you buy at the lowest possible point? Let’s control what we can control. And there is one thing you can control to add mor...
Oct 14, 2022•17 min•Ep. 206
7 Tips to Help You Navigate Money in Your Marriage, Ep #205 Did you just get married? Or have kids about to get married? Maybe you fight about money and need to recommit to a healthier money mindset. Rachel Cruze wrote an article where she shared 7 tips for a healthy relationship with money in marriage. I will share what those tips are and what I might do differently. Even if you do not fight about money, this episode of the Best in Wealth podcast is full of tips and tricks anyone can implement ...
Sep 30, 2022•21 min•Ep. 205
The first two quarters of 2022 were horrible in the stock market. The third quarter started well, but the last three-and-a-half weeks have not been great. One of my partners at Fortress Planning Group wrote an article about inflation, the Fed, and the midterm elections. In this episode of Best in Wealth, I am going to highlight some of Brian’s key points. My end goal is to encourage you to remain hopeful about the economy. [bctt tweet="In this episode of Best in Wealth, I share 8 reasons to stay...
Sep 16, 2022•16 min•Ep. 204
What should your net worth be? Where do you compare to the average investor? As a listener of this podcast, I think you are an above-average person. So what should your net worth be if you are above-average? In this episode of Best in Wealth, I share seven traits that make you an above-average person. Then I will share what the net worth of an above-average person might look like. Do nit miss this episode! [bctt tweet="What should your net worth be? Where do you compare to the average investor? ...
Sep 02, 2022•17 min•Ep. 203
Are you in a place to help your kids, siblings, or friends? What if you want to help your parents financially? How do you give money to loved ones? This is when things get dicey. This is not an easy subject to think about. But you will likely face it at some point during your life. So in this episode of Best in Wealth, I cover four things you NEED to consider before giving money to loved ones. [bctt tweet="In this episode of Best in Wealth, I share 4 things you need to consider before you give m...
Aug 19, 2022•17 min•Ep. 202
Have you heard of George Kinder? He is a well-known life planning expert . When it comes to retirement planning, it is not all about the money. The hard part is figuring out what is important. George has come up with three big questions that I want everyone to think about. Each of the questions is tough to answer. It will take meditation, prayer, time alone, and conversations with your loved one(s) to answer these questions. Do not miss this deep and introspective episode of Best in Wealth! [bct...
Aug 05, 2022•18 min•Ep. 201
