Welcome to Episode 1 of How to Money with Kole and Cole. The Podcast of the Central Financial Group in Fort Dodge, IA. On today's episode you'll get to know Kole and Cole and their jobs at Central Financial Group

Visit our website www.centralfinancialgroup.com

Follow us on Instagram, Facebook, Twitter, and Linkedin @centralfinancialgroup

Follow Kole Petersen on Facebook and Twitter @Kolecfg

Follow Cole Jaeschke on Facebook @Colecfg

Caleb: Welcome to how to money with Kole and Cole. Kole Petersen: I'm Kole. Cole Jaeschke: And I'm Cole. Kole Petersen: We coach people every day on their money and how to plan for the future. Cole Jaeschke: As financial advisors, we're here to have an honest conversation and educate you on how to money, intentionally and passionately to hit your money goals. And we'll throw in some sports stocks along the way. Kole Petersen: Our mission and goal of this podcast is to improve your money journey and help you create the financial life you deserve. Caleb: So let's talk money. Kole Petersen: And sports. Caleb: Hello everyone, and welcome to how to money with Kole and Cole, the brand-new podcast of Central Financial Group. I'm your host and producer Caleb Westall, and I work with Spin Markket and Digital and Fort Dodge. And I'm here today with Kole and Cole. Kole Petersen: Well, thanks Caleb. And we're excited to be here. We're here to try to take maybe a little bit of the ease of people talking about money and try to talk about things in layman’s terms, and maybe have a little bit of fun with it. Me and Cole have known each other for a fairly long time and we have a lot of fun when we're out golfing and he's kicking my rear end out there. So we thought maybe we could do this on a podcast and talk about money a little bit. Cole Jaeschke: Yeah, man. Glad to be here and a new thing for both of us here. So, I'm sure we'll learn as we go as well as hopefully educate some people along the way, and hopefully get some laughs out of the deal. So that's... a Kole Petersen: Well, they'll laugh at me. Cole Jaeschke: Yeah, for sure. I'm sure my wife will listen and give me a hard time, so. Caleb:I can tell just by the stuff we've done before being recording, I can tell there's going to be a lot of laughs in this podcast. So maybe tell us a little bit about yourself and how long have you each been with Central Financial Group? Cole Jaeschke: Yeah, I'll kick it off here. Today's actually my first official day as an advisor undersign in Central Financial Group. So I've been in the business for about seven years total as a financial advisor with previous firms and most recently with Edward Jones and had the opportunity to transition and bring my business to central financial group and back home to Fort Dodge. I was officing at Jefferson and now I'm going to be here officing where I live. So I'm looking forward to having my practice here and being part of the team here. Kole Petersen: He says that about moving back to Fort Dodge, but really just wanted to come work with me. That was about it. Caleb: I'm sure. I'm sure. Kole Petersen: We talked about that. And... Cole Jaeschke: He's got a cool name. Kole Petersen: Yeah. Right, right, right. Yeah. But no, we're super excited to have Cole. He's a go getter. He's a person that you look for when you're looking for people to recruit, to work for you. And we're excited to have him, it's his first day and it's already been hectic and crazy, but we're here and we're ready to roll and we're ready for a great career for Cole at Central Financial Group, so. Caleb: Yeah. So for the viewers, Kole Petersen is with a K, Cole Jaeschke is with a C. So that's how you know which Cole is which. Kole Petersen: They'll confuse it and they'll spell it wrong. Caleb: Yeah, it's okay. Kole Petersen: It's alright. Cole Jaeschke: Cole with a C is the right way to spell it. That's what we always say. Kole Petersen: Kole with a K is cooler. Caleb: I just have to say I'm Caleb with a C, don't ever spell Caleb with a K. It's just not good. Kole Petersen: Seen it before. Caleb:Yeah. So how long have you been with Central Financial Group, Kole with a K? Kole Petersen: Yeah. So I'm coming up on five years in October. I moved back to Fort Dodge from Des Moines area, worked for Principal Financial Group for 12 years before that and had a great time at Principal Financial Group. Cole Jaeschke was at Principal for a little while too. It's a great company. I look back to my time there and I wouldn't change anything that I did at all, but I wanted to get to something smaller and wanted to get to where I actually met with clients face to face and helped them with their retirement. So Principal Finance Group, again, great company, large company, very large company. Second largest employer in Des Moines, I believe in Iowa. I'm not sure about that, but don't hold me to that. Caleb: We'll get the fact checked. Kole Petersen: Yeah. Checks out on there, but yeah, Fort Dodge has presented a lot of things that Des Moines cannot which I think is great for people in Fort Dodge that we can keep it small, and we can keep it local. And it's a family run business and I'm super excited to be here and wouldn't change it for the world. Caleb: Yeah. That's I think a lot. To me, it's interesting is like, there's so many people that are like, oh, big city, small town, whatever. I love the small town people, who have a passion for a town like Fort Dodge. Most people would look at Fort Dodge’s 25,000, that's tiny, which it is tiny. But at the same time to have people like you who are passionate about this area and meeting with people face to face and making a difference with a one-on-one thing, I think that's cool. Kole Petersen: Calender, which I don't think has 25 people at all. Caleb: Calender's pretty small. Kole Petersen: No, I love Calendar. I'm just joking with my Calender people out there. Cole Jaeschke: Technically I was in between, like I'm in the country, I'm a country kid. So really, I say Calendar, Moorland, Fort Dodge, in the vicinity. But no, one thing I love when I think the nature of being in this area is how many entrepreneurs were around. That's a cool thing. That's what, I'm friends with a lot of entrepreneurs, clients, that's a big base of my clientele's entrepreneurs. And it's cool to see because you get to see their impact on the communities and the employment and things they provide to a community like ours. And it's a little more personal where if you get a little bigger, some of that personal touch starts to dwindle a little bit. So that's one thing I love about the size and the area we're in. Kole Petersen: Yeah. I was talking about becoming a financial advisor with someone that lived down in Des Moines just the other day. And I was like, man, yeah, go for it. Best of luck to you, but you're competing with, I can't even put a number on it, 5,000 different advisors down there and there's 20 in Fort Dodge. So it's just something that sets Central Financial Group apart too, as far as the service that we can provide that maybe another advisor in Fort Dodge can't because we are a team of people and we're a group, and we do work together on cases and we have our specialties. But we also can really take your whole retirement plan and mold it into one with our expertise. So it's something that we feel is a great thing that Central Financial Group sets apart from the others. Caleb: So you said you guys are advisors for Central Financial Group. What is your role as an advisor? Kole Petersen: Well, what we do as advisors as we take someone's what they're doing as far as their, say they'd never met with an advisor before. Say they had just started their 401k. They bought some life if insurance, maybe from their uncle and they're just putting stuff together themselves. What we do is we take all that information that they already have accumulated and we try to make a plan out of it and try to organize it, try to make sure that their investments are in the right places, that their investments are going in the right directions. We're also trying to make sure that they are saving enough and there's a lot of things that go into it. But as far as what we… a lot of our job is counseling and organizing. Cole Jaeschke: Yeah. I would say emotional support a lot of times for big decisions that people make. I think we tend to get those calls. Sometimes it doesn't even directly relate to us, but it's something where we're maybe a sounding board for them. And then... Kole Petersen: When someone sells a farm... Cole Jaeschke: Yeah. Kole Petersen: And they're going to get $500,000 when their parents pass away, and they got a farm, who are they going to call? Right now, you're not going to the bank to put it in the bank. You're getting 0.05 there. So you're going to call your financial advisor like Cole. And you're going to say, what do I do with this? I don't even know. Unfortunately there are a lot of people that don't know what to do with it. And they don't call a financial advisor. They don't have somebody they can trust. So that's something that we have to earn your trust over years of time sometimes. And then hopefully when something like that does happen, you can come to us. Caleb: So what got you into this? You all seem very passionate about what you do, which is great. I think being passionate, that's one of the biggest keys of your work is you want to be passionate about your work. So what made you realize that this is what you wanted to do? What got you into financing? Cole Jaeschke: I got a pretty simple an answer for this. So I've always had a coaching background. I'd say even when I was, I've been in athletics all my life and coaching was always something I thought I was going to do when I played college football, and thought I was going to be a coach afterwards. That was my first thing. And then I got to the end of that and I'm like, nah, I don't really want to be a coach. They travel around and especially at the college level. But I had that coaching at heart. And that's what I think, ultimately we're doing a lot of coaching, and educating, that's primary. And that's what drives me. I love to see someone stick to a plan, do it and see the evolution. Whether it's a transition from preparing to retirement, to living in retirement, whatever it might be, of passing money to their kids. It's really cool process to see and knowing that you had a small piece in that, maybe helping to educate them or the mechanics to get them there. Kole Petersen: Yeah. I would agree with Cole that coaching is a big part of it. How I got in the industry is basically was forced into it. Not that I was forced to get married, but I got married and moved to Des Moines and I did not have a job. On my marriage certificate it says I'm unemployed. Caleb: Oh. Kole Petersen: Yeah. So. Caleb: That's a great feeling. Kole Petersen: So, real impressive start for my wife, Molly that she married someone that was unemployed, but I was working in a different town. I moved to Des Moines without a job and was applying at jobs at Principal Financial Group, Wells Fargo, where people work in Des Moines. And I got offered a job at Principal and I needed a job. So I started working there. I didn't even know what I was going to be doing. Tell you truth. So I worked in the 401k customer service area at Principal and actually was like, Hmm, I like this. I understand money. Kole Petersen: I understand numbers. I was always good at math. And as the years went on and then we went through recession and nobody could move jobs anywhere. So I stayed at Principal, stayed at Principal, and then I was there for 12 years. And it was like, huh, that was interesting. I'm meant to be here like six months or a year, but 12 years is a great start. So I was basically forced into the industry, but now I love it, of course. It was just one of those things that you got to have a job when you get married, right? Caleb: Yeah. So it was out of necessity and now it's out of enjoyment. Kole Petersen: Right. Now it's not, it's a passion mine now. Cole Jaeschke: Yeah. I would say passion. You got to be passionate about this business to sit in our shoes. Otherwise you're going to get burn out, and you got to enjoy talking to people and hearing their stories, and that's I think one of my favorite parts about the business, is learning from our clients. You get to learn from people that are very successful and it's also, you feel good when someone that you know they're very successful and they want to work with you. That's a cool thing, but then you get to pick you… you ask them their story of like, oh, they made this decision and this decision. You're like, well, that's probably a pretty good decision. And sometimes those are things you can just, unfortunately in the world, there's not a lot of original ideas anymore. So finding the best path for people. And that's one thing I really enjoy is learning from my clients and getting to apply it to not only what I do, but other clients as well. Kole Petersen: I thought that was cool the other day, when you were talking about one of your clients and we obviously won't share any clients' names on this podcast or anything like that, but you were like, he's really successful. And I learned from him. And so our job is to teach people and help them. But lot of times we're learning from them, maybe on some mistakes that they made, maybe on some really big successes they have. So we try to learn from our clients also, but it's just about that relationship. And you can see where we're going with this is that we develop a personal relationship. You're not a number to most advisors, and definitely not to someone at Central Financial Group. We're trying to be a person that you can rely on, especially in times of rough times and good times and scary times, so. Caleb: What would you say, you're on this topic already. I think that's why I'm going to ask this question next, is you're talking about the relationship, what is something that people would have a misconception about you guys as a financial advisor? Kole Petersen: Yeah, that's a great question. Probably the number one thing that I hear is I don't have any money. Why would you want to meet with me? And I say, well, that's my job is to try to get you to have money. And so I think that's probably the number one thing people, misconception is that, hey, I've got to have a big pile of money to go meet with Kole or Cole. Cole Jaeschke: I've heard that a lot of, I don't have enough money for you to want to work with me. I hate that comment. I was like, no, that's not always. And I think Kole said, there's a lot of things in this industry that you do, that we don't get anything out of. And that's part of our business. We know that, we know that not everyone, but if we can help you, we're going to help you. That's what it comes down to. And they got to want the help though. And that's also the other side of the... Caleb: And that's where the passion comes from. Is like, yes, this is your job. It's your business, but you're passionate to help people. And that's why as someone you're like, you hate the misconception of, I don't have money. I can't be helped. It's like, I'm here to help you get where you need to be. And I'm passionate to help you. Kole Petersen: Right. Right. Yeah, that's probably the number one thing that I would say I hear from people that don't want to come meet with us. And probably number two is they think that we're just going to try to sell them something they don't need. But we are both fiduciaries. And I think that's very important to have that disclosure is we have to act in our client's best interest. So we are fiduciaries as far as any sort of fees or things that they're going to pay upfront. We have to disclose all that stuff. We have to tell you about it, otherwise we're not acting in the best interest of our client and we're not disclosing that information. So I think that that is also probably number two on the list that I hear is, well, I'm sure that there's a fee to come talk to you or an hourly rate. Well, it's not like an attorney. We don't file an hourly rate. And we have to disclose every time that there is some sort of fee that you might pay, so. Caleb: Got you. So let's go to the opposite in this spectrum now. So you got the people that have misconceptions, the things that bother you. What is your favorite part about working with people and seeing them achieve their goals? What about that? It's your passion to do this, so what is the most exciting part for you? Cole Jaeschke: I think for me, as this is year seven for me in the business, so actually having my clients my own, and when you first get started, you don't get to see this, but I'm starting to see it now where I've seen someone transition from saving their dollars and accumulating to transition to retirement and spending some money. And it's cool to see that transition to where they're like, oh, I can retire or you can tell someone, hey, you know you can retire, right? If you don't want to work anymore. And that's a pretty satisfying moment in meeting where you see people, it's like a weight off their shoulders. That's really cool. And then another one similar to that is education savings, seeing kids that get college paid for because their parents planned or did things. I think it's really cool to see the transition and the benefit of some of the things we talk about and we preach to our clients and then you actually see it applied and how they feel and how grateful sometimes clients are of your relationship and the relationship you have with them. Kole Petersen: Yeah. I had a cool thing the other day is that I had this couple come in and I got them on our money guide pro system, which I'm going to teach Cole all about, but we use a retirement planning software and I got to take them both from employed to retired. And that was like, they were like, that's pretty cool. And that's something that's like, you can't do this in any other job, as far as, it's like the coaching thing when you win the championship, it's like, but we get to do it more frequently. And it's about helping people to that finish line and being able to, we don't have to do all the heavy carrying, but we help guide you along that way and try to get you to that finish line, so. Caleb: The moment the hard work pays off. That's the end goal. That's the most thing, which I think that really applies to anything, but I can definitely see how that would be even bigger in a realm like you all, as far as like you said, sports. It's like you reach that pinnacle. You win the championship. The hard work pays off. Well in life for what you guys do, it's like they get to retire. They've reached that championship moment for them where their hard work of saving and doing it all right pays off and... Cole Jaeschke: Or just peace of mind. I think that's sometimes for some people is maybe they're not accomplishing something or hitting an achievement right then and there, but they know they're heading in the right direction and they're more comfortable with their situation. Or more ease of mind, just understanding that they're in the right spot. And I think that's cool to see. It's cool to see a person, they walk in, they're uptight and they leave and they're like, oh gosh, I feel way better now that I've had this conversation. And I think that's a very gratifying thing to go through. Caleb: So I'm not a client. I'm going to be this person I'm just going to walk up to you and say, what's the best money tip you can give me right now? What's your answer? Kole Petersen: You don't have any money. Go away. Caleb: I love that. Kole Petersen: what's the best money tip you can give a young lad like Caleb, first of all? Cole Jaeschke: There's probably a couple, but one thing I would start with, and this is something I know we're going to talk about what I would tell my younger self, but one thing I think is educate yourself, right? And I'm not going to give a specific, hey, start a Roth IRA, or do this and this and this, or save early. But I think we have so much information available to us now that if you have a goal, educate yourself first, or just get the highlights, right? The bullet points, make yourself dangerous and then figure out what's most important to you that you need to apply. And I think that's the number one thing, is making the effort to try to educate yourself cause the information's available or the resources of speaking to advisor, or whatever it might be. I think that's always step number one, is educate yourself, and there's no excuse not to. It's purely just an effort thing if you don't. Kole Petersen: Yeah. I would totally agree with that and it's just like the same, I tell people, I don't fix my car. I don't stitch myself up. So what I do, is I do your retirement plan. You can go do your job and be good at it. Let me do my job and be good at it. But what I would tell the younger generation like yourself, Caleb, have a plan and try to stick to it. Do some budgeting. It sucks. Nobody wants to do budgeting, but it does help. And try to think of your retirement savings when you're putting in your 401k, when you're putting your Roth IRA, whatever you end up doing, and that's your retirement insurance. You want to retire. Kole Petersen: Everybody wants to retire and we have people that come in, hey, hey, I want to retire early. Hey, okay. I'm like, well then you need to save more. If you want to retire before most people do, you just have to save more and sacrifice more. That's the whole thing. So it is, you don't have to… you have to develop the plan. You have to come up with a plan either with an advisor or come up with one on your own. There are things obviously available on the internet that you can find tools and we don't want to point you away from us, but everything you see on the internet's true, right? Caleb: Oh, definitely. Kole Petersen: Everything you've find out there is true. But you can do a lot of research yourself, but as far as, once you get to a point where you need a professional to handle it, let them do their job, I would say. Caleb:So we're going to take a quick break and hear a word from the production team at Spin Markket. Mackenzie: This podcast is produced by Spin Markket and Digital. Caleb: Located in Fort Dodge, Iowa, Spin Markket's highly skilled team can help you increase your market by updating your website, improving SEO, designing advertisements, and producing podcasts that will grab the attention of your market. Mackenzie: Contact Spin Markket today for all your digital marketing needs at digitalagent@spinmarkket, with two Ks, .com. Or call us at (515) 302-8026. And to learn more, visit our website at www.spinmarkket, with two Ks, .com. Caleb: That's digitalagent@spinmarkket.com or (515) 302-8026. Or visit our website www.spinmarkket with two Ks, .com. Kole Petersen: See, Spin Markket, two Ks, no Cs. Ks Caleb: Yes. We have two Ks. That's one thing anytime we do an advertisement for Spin Markket, we got to have that two Ks in there because it'll throw people off. Kole Petersen: Yeah. Well, that's the best letter out there. Caleb: So we're going to do a little quick transition. We're going to go from talking about the financial world to let's talk a little bit more about yourself. So Kole Petersen. Kole Petersen: My favorite subject, by the way. Caleb: Yes Cole Jaeschke: We all know that. Caleb: What are you outside of central financial? Kole Petersen: Well, I'm a dad. I have four kids. I am better known as Molly's husband. My wife is Molly Nelson, no laughter on that one. Huh? Okay. Molly Nelson. And so my wife is great and I have four kids that are awesome. I have a 12 year old boy, a seven year old boy and five year old twin girls that keep me crazy busy. But anyway, I like to be outside with my kids during the summer and play golf and do whatever they want to do basically as far as their sports go. So I'm most of the time shuttling them around to different sports after work. And sometimes I get to go out and kick Cole Jaeschke’s rear end at golf, but most of the time outside of work, I'm spending time at home with family and doing things like that. Cole Jaeschke:I don't know about most of the time. That's probably not an accurate way to describe the golf game, but we'll leave that one for another episode. Caleb: Okay. Yeah, we'll start in the next episode. We'll just have a golf debate. Kole Petersen: He wins most of the time. Caleb: You can bring in your score card next month, whenever we do this again. Kole Petersen: Yeah. Caleb: You can see who actually. Kole Petersen: Go through each hole. Caleb: So you would say, so you're a dad, a husband, and sometimes play golf with him. Kole Petersen: Yeah. Caleb: That's a pretty good life to have, be a family man. Kole Petersen: Yeah. Sometimes he gets to play golf with me. Caleb: That's what I aspire to be. Kole Petersen: But yeah, that's mainly, when you get four children and a wife and a house and everything like that, you don't do a whole lot outside of work and family. But I'm okay with that. I love it. I love my life and I wouldn't change it for anything. So I'm a blessed man and I feel really great about where I'm at in life. Caleb: Yeah. So what about you Cole Jaeschke? What are you outside of Central Financial Group? Cole Jaeschke: Yeah. First and foremost, I'm repetitive, but I'm a husband and a father. My wife, Chelsea and I got two little boys. I got a boy, Cail who is five years old, be six in July. And then we have soon to be seven month old Canton. And then we recently added a puppy, a Charlie. So, we've had the C and K discussion here. We're all Cs in my family. So Chelsea, Cail, Canton, Cole, and Charlie with the C. So yeah, so we got the C dominance in our family, but... Caleb: And I say, go Cs, I'm a Caleb with a C, so. Cole Jaeschke: That's right. But, and I'll say my hobbies are probably… my main hobby, my one and only hobby, but is golf. Just as Kole said, a husband and a father that's where most of my time is. So, I got to pick and choose my hobbies. I can't have too many. And golf's one I'm very, very passionate about and the more we listen you guys will find the passion I think Kole and I have for golf. And then also I've got some other business ventures. I would consider myself somewhat of a serial entrepreneur. I've got a couple other family businesses that I owned and some real estate stuff that I do as well. So between all that I'm busy enough, but my day to day and primary thing is being a father and a husband and then a financial advisor. Kole Petersen: It's crazy how much golf relates to the finance world though, too. Because you can do it your whole life. It's one of those rare sports like, you can't play football your whole life. You can't play basketball your whole life. I know that because I recently had to quit, but you can play golf, mainly your whole life. And your whole life, you're going to spend doing some sort of saving or spending or financing, whatever. It has a lot of similarities, and that's what I think is very unique about golf as a sport. And it's something that I want to teach my kids because I know that my dad taught me and it changed the way that I thought about sports. It's an individual sport, but you also can play on a team, but it's also something that you can do with your kids. Kole Petersen: I didn't play football with my dad as far as like in a competition or something like that. But, so it's something that like Cole said, we're both me and him are very passionate about. We're probably talking a little bit too much about it, but it's something that we think is something we want to put on this podcast as far as, we want to not just be about finances and money and everything like that, but we're going to talk a little bit about golf and... Cole Jaeschke: Hey, we got both sports guys too. So, I think there's going to be some sports that's incorporated and- Caleb: I’m all in on that. Cole Jaeschke: We're competitors too. So you'll probably get some competition based conversations at times too. So that'll be probably pretty enjoyable at times. Caleb: Okay. I'll just say this. I'm not a golf guy at all for the viewers. So don't expect me to be in on the golf conversation. Kole Petersen: Caleb, you don't do golf. You don't do finance. Caleb: No, I do... My go to sports are basketball and football and I love watching NASCAR. That's what I do. I don't do golf. I'm a NASCAR guy. Cole Jaeschke: Yeah. Actually not a plug here, but I'm not a big race car guy, but I'm watching F1 series on Netflix and it's about the formula [crosstalk 00:28:14]. Oh my God. It's addicting. And it's awesome. It's super well done, but it's crazy. I know... Caleb: I heard that the F1 documentary is super good. Cole Jaeschke: It's legit. Caleb: I've never watched F1 in my life. Ever. Cole Jaeschke: And it's honestly, my wife watches it. Caleb: It's on ESPN, the F1 races are on ESPN. I actually watched a few laps of one on Sunday. I was like, what is my problem? I do not watch F1. Cole Jaeschke: Yeah. It's crazy. Sidetracked there. Sorry. Kole Petersen: No, that’s alright. Yeah. You spend your nights watching F1 and I watched the basketball games last night and Arizona [inaudible 00:28:46] just killed my brackets. Caleb: Oh, mine were dead last week. Because I had Auburn and Kentucky in the final four. Kole Petersen: Oh wow. not educated. Caleb: And one of my brackets, I had Iowa in the final four actually winning the championship and I was like, this is not good. Kole Petersen:We should talk about that guys right now. [crosstalk 00:29:02]. Let's go. Let's go Cyclones. Yeah, I don't have a big aversion to the Hawks or the Cyclones, and I don't think you do either. Yeah. So we probably won't spend much time on that, but the Hawkeyes had a rough weekend last weekend. I watched both the men and the women's game. Cyclones, congratulations on the sweet 16. Caleb: Yeah. I'm Tar Heels fan. So we also had a good weekend. We knocked off Baylor, the number one seed. Kole Petersen: Yeah. Yeah. They got a tough game tonight against UCLA though. I think that's going to be one of the toughest games or the closest games that we'll see in the same thing. Caleb: So I'm rooting for Duke UNC matchup in the final four. Cole Jaeschke: That'd be legit. Caleb: Because they would meet in the semi-finals. Kole Petersen: Well, because North Carolina's underperformed all year. So, they were better than their record show. They were not an eight or nine seed. It was like Michigan, Michigan was not an 11 seed. They had a rough schedule. They had some injuries, they went through a rough patch, but they were one of the top 16 teams in the country, like North Carolina. They weren't an eight seed. They should have been, their record showed them as a four or an eight seed. But they were like a four seed. Caleb: Well they finished the season 13 and three, in their last 16 months. So- Kole Petersen: They finally got healthy and... Caleb: Healthy, they learned the new coaches system because Roy Williams retired last year. So. Cole Jaeschke: I'm going to have to cut you two off here on the basketball talk, so. Caleb: So, yeah, I don't want to [crosstalk 00:30:24] but it is March Madness week. So, I know it's very relevant right now. Right? Cole Jaeschke: Very relevant. Caleb: But what I was going to say when I brought up the sports thing was I saw, not that I'm a golf guy, but the masters are in two weeks. I'm sure you all are pumped about that. Cole Jaeschke: Oh yeah. Caleb: Is it two weeks, three weeks? Cole Jaeschke: How far is it? Kole Petersen: It is April 9th and 10th. Somewhere around there. Yeah. It's two weeks from this weekend. Yeah. I'm bummed that Phil's not playing. I understand why he is not. He's got to sit this one out, pay his dues for the dumb stuff he said. And I understand why he's not going to do it. I swear I saw something that Tiger's playing. Cole Jaeschke: I hope that's the case. because that's- Kole Petersen: I don't even have my phone handy, but- Cole Jaeschke: Tiger's the figure that draws anyone when he's playing, like the headlines’ like Tiger's playing, everyone flips that on. So there's nothing better though. I love master's week. You flipping on TV and it's one of my favorite weekends of the years, masters week. Caleb: Masters week for you is like speed weeks for me, which is the first race, the Daytona 500. I'm all in that week because there- Cole Jaeschke: I wouldn't have guessed you as a NASCAR guy. Caleb: Well, okay. I grew up in North Carolina. Cole Jaeschke: Okay. That makes sense then. It makes sense. North UNC, that makes sense. Kole Petersen: Yeah, okay. A real race fan. Caleb: From the time I was three to, we moved here when I was 10. So my early childhood years, were all in the sports area. I was 30 minutes from all the tracks, all the teams home bases. So that was a big thing down there. And then I come up here and everyone looks at me like, ew, you're an NASCAR fan? And I'm like, look, I grew up where everyone is an NASCAR fan, so. Kole Petersen: Right. You got to find the right crew to hang out with if you want to watch NASCAR. But yeah, the masters are coming up and just a quick, funny story about the masters or any golf tournament when Tiger was going through his run back in the 2000s, I was in the golf business, and I was an assistant pro at Beaver Hills Country Club I think it was during the US open. And so one Saturday I was there, I was supposed to be there all day. I counted how many times people walked in the door and their only question was, how's Tiger doing? Caleb: That's awesome. Kole Petersen: So I had probably, let's say 150 people walk through there. How many people do you think asked that question? Caleb: At least 60%. Cole Jaeschke: I was going to say 50.

Kole Petersen: 76 people out of 150 asked. Cole Jaeschke: That's amazing. Kole Petersen: And they didn't say, hi Kole. They didn't say anything. Caleb: That's crazy. Kole Petersen: Only thing they said was, how's Tiger doing? Just shows is dom, just- Cole Jaeschke: The relevance of the normal person. Kole Petersen: The only two people that we care are playing the masters are Phil and Tiger. I don't even know who else is playing. Cole Jaeschke: Yeah, me neither. Caleb: Yeah. That's funny. I know Tiger Woods. I know he was dominant, but beyond that, I don't know much about golf. So, I’ll leave it at that for you. Cole Jaeschke: Yeah, we can talk enough probably about golf. So we won't have too much golf content, so. Caleb: Yeah. Let's get back on money talk. Kole Petersen: All right. All right, we can do that. Caleb: Okay. So we have this big thing in the, I'm going to speak from the digital side of things, digital marketing side of things. We have a lot of people go, why do I even need you? Kole Petersen: Oh my goodness. Caleb: Yeah. They're like, I can do it myself. And then you look at their stuff and you're like, that's exactly why you need us because no offense, that's not good. So when somebody says like, well, why is it essential for me to have you? Why can't I just do it myself? Kole Petersen: I'll let you handle that question, Cole. Cole Jaeschke: Yeah. First and foremost, I think one thing, a good response, I'm not going to have an amazing response to that, but I say it comes down to the one thing we can do with people like that is the questioning and narrowing down their goals and objectives. And I think that's always, if you can get that with either the people that are, I don't see the value in the advisor, a lot of times that's where our value is, is helping them define their goals and objectives. And that's one thing that I try to pivot on. If maybe I have someone that's on the edge of speaking to advisor of really narrowing down their objectives and what's important to them. And that's where you'll find is sometimes well, okay. Cole Jaeschke: What you're telling me is not matching up with maybe we're doing a review forum, or someone that's not a client of ours and we can educate them on maybe, hey, that's not what you're telling me. You're telling me this, but your portfolio says this or your retirement plan says this, says otherwise. And that's where, we're going to have that at times, but trying to pivot and have that conversation, I think are we going to be able to help everyone? No. Would we like to? As competitors and as people, yeah. We want to help everyone. But in all reality, we're not always going to be for every single person out there who's not going to be a fit for us. But if we can educate and let people know we're there to help them, I think that's ultimately, and do the right thing. Cole Jaeschke: We do the right thing, and there's plenty of times we'll tell people like, unfortunately, we will help you, but you're not ready for maybe this, this, or this, at this point. You need to start doing this first. You need to budget first before you invest, or you need to pay off some debt before. And we're really just providing the education at that point. We're not really involved in anything. And sometimes that's necessary for us, acting in the best interest of people that are wanting to work with us. And I think that's important for people to know that we want to educate, but we're not for everyone. Kole Petersen: Yeah. I want to tell another quick little story about- Caleb: Go for it. Kole Petersen: And this is my analogy that I use, is I first got a house, my first town home with Molly, and we had a deck that I could grill on. I wanted to get a grill. So, I went to the store. Cole Jaeschke: Everyone needs a grill. Kole Petersen: Right, right. So I go to Menards and there's the $100 grill. There's the $250 grill and the $400 grill. Right? Well, $400 grill's already put together, all ready to go, you can just pick it up, take it out. $100 grill that comes in a box, you got to put it together. So I do the responsible thing, first time home buyer, buy the $100 grill, I go home and put it together. Right? It took me 10 hours to put together this grill. I don't put together grills. I put together retirement plans. And from that point forward, I always bought a grill that was put together, because... Caleb: That's a smart one. Kole Petersen: I'd rather pay a little bit more, get a better product. I had doors on the wrong way. I don't even know if it ever worked right. But that's something that I would say is for the person that wants to put the grill together themselves with their retirement plan. Maybe we're not for you, and maybe you should do that yourself. And if that's really interest of yourself, then go ahead and do it. I'm more of the guy that wants to have the grill all put together, and I have one I have the professionals handle it and I want to put together right. So I would rather have the professional that does it for me. And I know it's going to work and I'm going to retire. So that's my analogy on the whole thing. Caleb: Yeah. That's a pretty good analogy. Kole Petersen: That's a true story. I swear to God, it took me 10 hours to put together this grill. In Cole's lab, it probably took him 45 minutes to put together. And I think the box did say like two hours to put together, but I had to take it apart. Cole Jaeschke: We’ll give you the benefit of the doubt here. So, you were a new homeowner, new husband, so. Caleb: I'm yet to venture down that road. So we'll see. Kole Petersen: There might have been some alcohol involved too. I'm just saying. Caleb: Always does. Cole Jaeschke: Yep. Caleb: So we're getting pretty close to wrapping this episode up, I think. So one final question I have for you guys is what would you tell if you could turn back time and talk to your 18 year old self? So you're fresh out of high school, about to go to college. So it's before you've even really, I would guess probably found a career path yet. Is if you could go back and tell yourself, either do this differently or do this the same, what would you tell your 18 year old self? And this could be, tell your 18 old self, but this also ties what we said earlier about the, you could tell anybody anything. So your 18 year old self or any 18 year old about either being an advisor or saving money or whatever it may be, what would you tell your 18 year old self? Kole Petersen: I think the biggest thing to do is actually put some sort of savings in your budget. Not saying that I did that when I was 18, but as far as whether you're going to do a Roth IRA, whether you're going to do a just regular savings account, put some savings in your budget and just stick to it. And maybe when you're 18, you don't need to meet with a financial advisor, especially if you're going to college. But when you start getting the job and getting actual money that you feel like you're, hey, I'm not scraping every month to make by, then talk to somebody, talk to a professional and get some sort of plan together with them and get on your way a lot quicker. Cole Jaeschke: I'm going to do a little plug here. I don't know if I'm breaking any rules here or anything, but I have a book I actually give when kids turn 18, if their parents are clients of mine. And I know they have a kid turning 18, it's called Napkin Finance. I don't know if I can say that, the book or whatever the rules are there. But if they're going to turn 18, I ship it to them because I think it a book that every 18 year old should read. And it's just a quick snippet, and it comes back to my education, right? Educating yourself. It's a personal finance book that's really easy to read, in quick sections. And now the book's evolved to where it has a cryptocurrency section. So you can educate yourself now to who knows where that goes, what it is, but there's things on, writing a check. A lot of people don't know how to write a check anymore. I know that's become irrelevant. I understand that. But there's many- Caleb: I had to write one the other day and I was like, man, I feel like… or there was the first time because Cheryl does paper checks for us. And so I get to the bank and I'm like, do I just sign my name or do I put something else on the back when I turned this in? And I was freaking out in the car and the deposit line. And I was like, this is terrible. Kole Petersen: He was probably like, what's a memo section? Cole Jaeschke:But there's things in that book. And that's what I love. That's why this is something I've built since I've been doing this for about two years, that I love your book. No, no, it's a book that I bought, I found on Amazon and I bought a bunch of them. And I have them so every time a client turns, if I know a client as a child that's going to turn 18 or maybe there's some specific reason, and it doesn't have to be kids either. This could be for probably a 23 year old, just out of college, same thing. It's got a ton of personal finance, just easy education. And that's part of that, educating yourself of understanding how interest works on a credit card. That's important. That's going to have a detriment, understand how your student loans. I know there's a forbearance on right now with interest on student loans. Cole Jaeschke: Should I be paying principle or should I not? Understanding how the mechanics of that work is very important early on in life. Because if you get to a point where maybe you can't save that much at that point, but if you're understanding debt and that's making you conscious of decisions you're making and purchases you're making to not get in debt or what's maybe more important, it's going to help you as you get further on into that plan and maybe start to saving for different vehicles and retirement or education or whatever it might be. But I think it's very important to understand those type of things especially at a young age whether you're going to college or you're starting a job right away. Kole Petersen: Amen brother. Caleb: So educate yourself and don't wait to start. Cole Jaeschke: Yep. Kole Petersen: Absolutely. Yep. Cole Jaeschke: Can't go wrong there. I think those two, if you were going to start somewhere, that'd be a great start. Caleb:If we're being honest, that applies to any area of life. Cole Jaeschke: Right. Exactly. Kole Petersen: Budget. Yeah. I would say the other thing would be budget. At least come up with some sort of plan. Cole Jaeschke: I think it's good, the budget thing is the understanding of, if someone asked you and you could tell them, hey, roughly, here's what I make, here's what I've said, it's good. Some people have no idea, right? They're just, oh, hopefully this works, hopefully I can buy that. That's not a plan, so. Caleb: No. So what would you tell an 18 year old who's like, I want to get in the financial world, be one of you guys. What would you tell him? Kole Petersen: That's a great question. I think that there's an opportunity out there with a lot of baby boomers that are retiring and it's a great place to be. And me and Cole have joined up as far as our forces, but there are a lot of people that aren't in our age that are in the financial advising role. I would say that we are a dime a dozen as far as our age bracket. A lot of the financial advisors are either 65 and getting ready to retire or they might be 18, 22 years old. So as far as getting into the industry, it's a good time to be getting into our industry. And we're always looking for young prospects that are wanting to try to build their business and try to build their business under Central Financial Group, so. Cole Jaeschke: And you're seeing this, I've looked at this recently, but there's colleges are starting to, and they have their obviously traditional finance degree, but now you're seeing family finance or places where you get a four year finance degree as well as you could get all the education for your CFP designation or your financial planning. You can actually get a financial planning degree or a master's in financial planning now. And you see that becoming more relevant at some of the colleges that have finance specific programs. And I think that'd be something for an 18 year old looking to get into our business and make sure they understand what exactly we do too at times. Cole Jaeschke: I think sometimes that, for an 18 year old can say, oh, money or stocks and sometimes there's some confusion there. So just make sure you actually understand and go and ask someone you know. I'm sure, if you're an 18 year old or a young person, you ask a family member who their advisor is or someone to speak to, we'd love to talk. I've spoken to many schools and classes and stuff about what we do. And ask, ask, ask what they do. And again, it comes back to educating yourself. Kole Petersen: On that note I saw the other day that Arizona is requiring high school, you have to take a financial literacy class. Caleb: That is actually now required in Iowa too. Kole Petersen: Is it in Iowa too? Cole Jaeschke: I love that. Kole Petersen: But why is it just now? Cole Jaeschke: Yeah, I agree. I agree. That's kind of- Kole Petersen: Finances are such a big part of everyone's life, and that was one of my struggles when I got to principal, when I started out, I was like, what's a 401k? I didn't have a clue. And what's an IRA? What's the difference between a Roth and a regular IRA? We don't learn that stuff in school. You have to learn it on your own or you just don't learn it, or you get taught by someone like myself or Cole. And so it's getting there. I think the financial literacy is going to get better. And we hope that that helps people do better with their saving and everything like that. Caleb: Okay. We're going to go ahead and wrap this episode up I think. This has been an awesome time recording this episode. It's been fun to get to know you guys a little bit. I told McKenzie going into this, I'm like, I'm really nervous about this because I don't know these guys. So I feel like this went well. And I think this is going to be a fun thing for people to tune into. You guys seem very relatable. So I think you did a very good job with that. So just a quick promo for Central Financial, you can visit their website, centralfinancialgroup.com courtesy of Spin Markket. We just finished their brand new website. And then on their website, you can go into different landing pages. These guys are with CFG Fort Dodge. So there's a landing page for that. And then I know there's three or four others on there that you can go visit. So check them out on there. Kole and Cole, they have social media, so. Kole Petersen: Yep. You can find me on Facebook at Kole CFG, first name K-O-L-E and CFG. And I'm also on LinkedIn and Twitter. Just if you're searching for me, make sure you spell my names right. Kole, K-O-L-E, and last name Petersen, P-E-T-E-R-S-E-N. Caleb: Oh, I didn't know that. Kole Petersen: Yeah. And if you want to get ahold of us, if you're looking to get ahold of us, you can get ahold of us there. If you want to call the office, you certainly can call the office. Obviously all that stuff is online, but Cole, yeah. You got some social media that- Cole Jaeschke: Yeah. As well, you can find me on LinkedIn, just Cole Jaeschke spelled the right way. C-O-L-E, and then I'm also on Facebook at Cole CFG. Caleb: So, and then anytime, if you guys can't remember that, or don't know where to look, you can go to their website, centralfinancialgroup.com and all of their information, it's actually underneath the CFG Fort Dodge landing page. Underneath their bios is their different contact information. So you can find them there. And then yeah, next time on How to Money with Cole and Kole, which episode one was a blast. I'm looking forward to episode two. Cole J. is going to talk more about his transition into CFG and what that brought about and just the new things going on for him. So I hope you all will tune in next time, and that's going to pretty much wrap it up. Once again, this was courtesy of Spin Markket and Fort Dodge, and we will see you next time. You've been listening to How to Money with Cole and Kole, a podcast of the Central Financial Group, courtesy of Spin Markket. Learn more about the Central Financial Group on their website, www.centralfinancialgroup.com. Kole Petersen: For now, I'm Kole. Cole Jaeschke: And I'm Cole. Kole Petersen: And we'll see you on the greens. Caleb: Securities offered through Royal Alliance Association Incorporated Member F-I-N-R-A S-I-P-C. Royal Alliance Association Incorporated is separately owned and other entities and or marketing names, products, or services referenced here are independent of Royal Alliance Associations Incorporated.