Ready to untangle the web between the Federal Reserve, Big Tech, and your investments? In this episode, Jim McGovern from McGovern Wealth Group sits down with Michael Trudel, CFA, JD, Managing Director and Global Strategist at BlackRock, to explore the complexities of today's markets - from the U.S. economy's surprising resilience to the tech sector's influence on the stock market this year. Armed with over two decades of industry experience, Mike offers an insightful, well-rounded perspective o...
Sep 22, 2023•41 min
Are you an investor with a large amount of money in just a few stocks? Are you concerned about how to protect against a decline in the stock, but also reluctant to diversify due to significant tax consequences? Are you curious about ways to continue to hold the stock while at the same time have a tax-efficient way to reduce risk in such a concentrated position? In this episode, Jim McGovern talks to Eric Metz, CFA, President and Chief Investment Officer from SpiderRock Advisors, offering insight...
Sep 13, 2023•47 min
Supplemental Needs Trust is an often-underrated game-changer, paramount for enhancing the quality of life for individuals with special needs. In this episode, Jim McGovern talks with Dan Ehrmentraut, Senior Vice President of Business Development at Capital First Trust, about the ins and outs of Supplemental Needs Trusts. Together, they dive into the world of trust management, debunking common misconceptions, and shedding light on how these tools can protect assets and qualify individuals for ess...
Sep 12, 2023•40 min
For any business owner, losing key employees can be costly and disruptive. Retaining top-performing employees is crucial not only for growing your bottom line, but also for maximizing your enterprise value when it’s time to exit the business. In the previous episode, we talked about qualified retirement plans. Today, we will discuss non-qualified retirement plans, which serve as an effective incentive to retain talent while simultaneously enabling your business to realize tax savings! Join Jim M...
Aug 04, 2023•52 min
In this two-part series, we'll be covering qualified retirement plans in Part 1 and non-qualified retirement plans in Part 2. If you're a business owner, these episodes are a must-listen, as they provide valuable insights into retirement income planning, plan designs, limitations, and how to administer them for maximum tax savings. In part 1, we provide you with important information for navigating qualified retirement plans. Thomas Wyatt JD, CFP® and President of our Columbus office, will guide...
Jul 14, 2023•51 min
In the second part of this two-part series, Jim McGovern discusses how annuities can help provide a secure “retirement salary” that cannot be outlived¹ and how to help position other assets to serve as a “bonus” component for retirement spending. Jim discusses some of the challenges retirees face when relying solely on market-based investments, limitations of the popular “4% Withdrawal Rate” concept, and different ways annuities can be structured to meet income, investment, risk, and protection ...
Jun 30, 2023•47 min
Whether you're new to annuities or seeking to enhance your retirement income strategy, this episode offers valuable insights to support your financial journey. In this episode, Jim McGovern uncovers the potential advantages of annuities. Join us as we explore annuities and understand the need for retirement protected asset growth and protected lifetime income. Jim covers the following topics: What annuities are and some of the key advantages of using annuities as a means of growing retirement as...
Jun 16, 2023•46 min
Alternative investments can be a very attractive option, but it’s critical to consider the requirements each individual should meet and the risks involved before entering the space. In this episode, Jim McGovern speaks with James Costabile, Managing Director and Head of Alternatives Distribution on iCapital’s Private Wealth Solutions team. James gives a broad overview of the alternative investing space. He details the pros and cons of private equity, private credits, real estate, infrastructure,...
Jun 02, 2023•52 min
Are you a small business owner? Get ready for a deep dive into the world of financing for small business owners with Senior Vice President of Enterprise Bank, David Miller. If you're interested in learning more about what it takes to secure loans and grow your small business, then join us as we chat with David Miller about the numerous financial options and selling opportunities for your small business. David shares his insights on the tools and resources available to small business owners, incl...
May 19, 2023•51 min
In this episode, Bobby Samuelson, President and CEO of Life Innovators, breaks down the complexities of traditional fixed income investing options, and explores how life insurance can be used as an asset in your overall portfolio. He breaks down how whole life insurance can be a versatile financial instrument, used for the protection of families and businesses, while helping build and enhance wealth. Bobby covers the unique benefits that differentiate whole life insurance from other financial in...
May 05, 2023•52 min
It’s impossible to measure the value of a human life. Who you are as a person, and what you mean to your family, friends, and your community, cannot be measured or a dollar value placed upon it. If you suddenly died, such a loss would be permanent, profound, and irreplaceable. Your future earnings potential is about the only thing that is replaceable through proper life insurance protection. In this episode, we discuss the different mindset people tend to have when insuring material possessions ...
Apr 21, 2023•37 min
With years of experience in helping businesses plan their exit strategies, Ken Alter, Managing Director at Planning Alliance, shares his insights on the mechanics of ESOPs(Employee Stock Ownership Plans), their benefits for both employers and employees and how they can be used as an effective tool for selling a business while maintaining control and achieving tax savings. If you're a business owner looking to plan your exit strategy, this episode is a must-listen! Ken discusses: What an Employee...
Apr 07, 2023•47 min
While retirement accounts have powerful tax advantages, they might also have significant disadvantages if we don’t understand the rules. In this episode, Jim McGovern discusses retirement accounts and how individuals need to think critically about how these accounts work, know the rules of the game as they stand today, and consider their circumstances before deciding to invest in them. Jim also warns against the misconception that investing in retirement accounts saves tax money. Jim discusses: ...
Mar 24, 2023•48 min
Insurance is often marketed based on finding lower prices, but it's time to take a closer look at the quality of the coverage you're purchasing. In this episode, Michael Moore, CAPI, CPRM, PLCS, of Marsh McLennan Agency joins the show to discuss how accidents and other risks can lead to multi-million dollar lawsuits, and how to improve the way you protect your property, assets, and future income with higher quality insurance. Mike discusses: Umbrella insurance - what it covers and why you should...
Mar 10, 2023•44 min
You want to make sure your protection in your estate plan is complete and it's engineered with extreme conditions in mind. Yet many people have wills and trust with safety features that expire when the beneficiaries at a certain age. In this episode, Jim McGovern talks with Jerry Wegley, an attorney with KnoxLaw about why dynasty trusts should be the centerpiece of a family estate plan. He explains where some of the traditional approaches to estate planning fall short and assets may be unnecessa...
Feb 24, 2023•43 min
If you’re feeling stressed about your student loans, we hope this episode can provide relief and support to help you clear your debts. With the latest announced student loan forgiveness program, there have been many prompting questions about ways to control student loan debt. In this episode, Jim McGovern talks with Mackensie Ellis, manager of Business Development at GradFin, to discuss ways you can create a great action plan for your student loan debt. Mackensie will walk you through the loan f...
Feb 10, 2023•47 min
One of the most important documents that a business owner should have is a buy-sell agreement which doesn’t seem to get a whole lot of attention. In this episode, Jim McGovern shares a step-by-step process for creating a buy-sell agreement without losing out on the value of your business. He will give you tips on how to get started and keep your business protected. Jim discusses: What a buy-sell agreement is and why it is important The basics of how a buy-sell agreement works Why this agreement ...
Jan 27, 2023•41 min
98% of business owners don’t know the value of their business. Yet, most business owners are banking on the sale of their company someday to fund their retirement. In this episode, Jim McGovern talks with Jason Early, president of BizEquity, to discuss why you deserve to know the value of your business and what you can do with this information. Jason discusses: The importance of a business valuation How often your business should have a valuation and how you can benefit from it How inflation and...
Jan 13, 2023•34 min
Structured notes have sometimes been perceived as investments for only the rich and wealthy. Now with the competitive marketplace, financial advisors have access to low-cost, accessible structured notes that offer investment solutions any individual investor can access. In the episode, Jason Barsema, CEO of Halo Investing, discusses the details of structured notes, when to use structured notes and how using a platform like Halo investing for structured notes is a great option for investors seeki...
Dec 30, 2022•50 min
1 in 3 workers are willing to consider a lower paying job if it was a more fulfilling job. It can be nearly impossible to be fulfilled in your life if you are not fulfilled at work. In this episode, Emily Melious, CEO and fulfillment coach at Launch Consulting, discusses why fulfillment equals the alignment of your unique skills, passions, and talents. She shares how The Career Navigator Program helps mid-career professionals and high achievers make a job transition to find fulfillment in their ...
Dec 16, 2022•43 min
Are you properly claiming your Social Security benefits? Most people don’t put enough careful thought into Social Security claims and this mistake can leave you with a reduced retirement income. In this episode, Jim McGovern talks with Elaine Floyd, CFP®, and author of Savvy Social Security Planning For Boomers. She debunks some of the most common myths about Social Security and shares effective methods that maximize retirement income. Elaine discusses: Why you shouldn’t bank on the fear of Soci...
Dec 02, 2022•36 min
During the life of a business whether it be a company that is big or small, business owners put in long hours, wear different hats, and are pulled in different directions with no shortage of stress. In this episode, Jim McGovern talks about a clear path to follow so you can protect the company you have built, position this company for growth in the future, and exit the company on your own terms. Jim discusses: The differences between small businesses and public traded companies The importance of...
Nov 18, 2022•34 min
Do you know what ingredients are in your investment portfolio, the recipe being used and why? Do you know how markets work, the factors that influence your long-term returns, and what to expect out of your portfolio based on how it’s designed? Without an intuitive and logical framework to follow, investing can be confusing, intimidating, and frustrating. It doesn’t have to be that way. In this episode, Jim McGovern outlines the fundamentals of investing and what most investors don’t know about b...
Nov 04, 2022•43 min
One of the most important financial resources that you have is cash flow. We use cash flow to determine how to spend, save and plan our money for the future. What happens to you when your cash flow stops as a result of a health-related matter? In this episode of Maximizing Outcomes, Jim McGovern discusses health-related issues that may stop you from earning a pay check. He also discusses why your employer’s insurance coverage doesn’t completely protect you. Jim discusses: What disability insuran...
Oct 21, 2022•34 min
What would happen to your estate if you were to pass away tomorrow? Do you have a will in place for your family? States such as Pennsylvania cannot guarantee that the spouse of a deceased person will inherit 100% of the money when there isn’t a will in place. In this episode, Jim McGovern talks with Brooke McMorrow, a business owner and attorney from McMorrow Law, LLC. They explore why you should develop a will and establish your power of attorney no matter what age you are. Brooke discusses: Wh...
Oct 07, 2022•44 min
Every child is going to need different quantities of support from their parents. How can you establish and navigate the support systems that your child requires? In this episode, Jim McGovern talks with Judy Herron, CPA to discuss her story of raising her son Chaz and how she became proactive in creating his financial future, finding him support systems, and finding the right opportunities for someone who is ‘differently abled’. Judy discusses: How her work as an experienced CPA impacts small bu...
Sep 23, 2022•42 min
Everyone wants what’s best for their children even if they need a little extra support whether it be financially or emotionally. In this episode, Mike Magulick, co-founder and president of the board for the Miracle League of Moon Township, discusses his family’s story of raising and financially preparing for their child with disabilities and how this experience changed him personally. Mike discusses: His personal life story about his son’s illness at birth The journey to find expertise about his...
Sep 09, 2022•39 min
Navigating the education system is completely different when you have a child with special needs, but just because it’s different doesn’t mean it has to be any more complicated. In this episode of Maximizing Outcomes, Jim McGovern talks with Dr. Hall-Wirth, an assistant professor at Slippery Rock University in West Pennsylvania. Dr. Jessica Hall-Wirth outlines the evolving landscape of special education and explains the resources available for your child with special needs to pursue not only an ...
Aug 26, 2022•30 min
What’s at stake when setting your child up for a successful financial future? What specific goals do you have in mind for your child? In this episode, Jim McGovern will give you practical insights and an overview of life planning, building a sustainable wealth for you and your children, and caring for your child’s future. Jim discusses: His philosophies of planning for your child’s financial future Planning your financial timeline and how to properly incorporate your children’s financial inherit...
Aug 12, 2022•37 min
You should understand just how fragile financial plans really can be and stay realistic about what you are up against. If it was easy to do, then you wouldn’t hear about people running out of money. In this episode, Jim McGovern shares how retirement income planning has changed over the years. He also briefly explains four rules that will help you add structure to your retirement planning all while enjoying more income. Jim discusses: The history of retirement planning Two significant changes th...
Jul 29, 2022•37 min
