Path to Abundant Living: Recent Episodes
Scott Morrison and Matt Nordmann
Welcome to Path to Abundant Living, where we address pertinent topics surrounding wealth management to help better position yourself, your family, and your business for success.
Listen as Scott Morrison and Matt Nordmann, Managing Partners of Morrison, Nordmann & Associates, tap into their wealth of financial experience and address various strategies and services they utilize for their clients.
So sit back, relax, and enjoy intriguing financial conversations that place you on path to abundant living and help you navigate the rest of your life.
A good financial planner plans your future for you. A great financial planner guides you with careful experience to the right decisions for you. This guidance shouldn't be concrete. It should be ever evolving based on the challenge in front of you. Just like a caddy advising their player on a challenging hole, so does a great financial planner advise their client.
On today's episode, we are pleased to welcome on the podcast Russ Holden, CEO of Caddy for a Cure.
Caddy For A Cure is a dream-turned reality for Russ Holden, program CEO. It was Russ’s touch with Fanconi Anemia in the summer of 1993 that ultimately sparked a passion and the fire to start Caddy For A Cure, developing it into the program that it is today.
Holden has been a PGA of America Class A golf professional since 1985 and had the great fortune of being the Head Golf Professional at Woodfield Country Club in Boca Raton, FL. During his time at Woodfield, Holden befriended resident and two-time Masters Champion, Bernhard Langer. From this friendship, Russ began working on the PGA TOUR, caddying both full- and part-time for the German Hall of Fame golfer from 1991 until 2006.
After twenty two highly successful seasons on the PGA TOUR and with the support of virtually all of its players, the Caddy For A Cure concept continues to grow.
Enjoy!
Chapters:
0:00 - Introduction and overview on the topic of the day
3:05 - Welcoming Russ Holden onto the show
7:00 - What Makes a Great Caddy
9:44 - Accepting Responsibility, Bernhard Langer's Example
12:00 - Christian's Story and Fanconi Anemia
13:40 - The Birth of Caddy for a Cure
16:40 - Serving Veterans
21:25 - A Family Charity for Families
28:00 - Flying with The Blue Angels
31:20 - How to Support Caddy for a Cure
32:40 - The Impact of Loving On Our Vets
35:48 - The key takeaways from today's episode
41:00 - How to get in touch with Matt and Scott for a deeper discussion on estate planning
41:45 - Closing remarks
Connect with Scott Morrison and Matt Nordmann:
Website
Estate planning isn't just about distributing assets; it's about ensuring your legacy lives on according to your wishes. Joined by Jack Weyers, Estate Planning Attorney at Family and Elder Law of Mid-Michigan, we discuss the fundamental components of estate planning, from drafting wills and trusts to designating beneficiaries and establishing healthcare directives. Our guest sheds light on the common misconceptions surrounding estate planning and highlight why it's crucial for individuals of all ages and financial backgrounds.
Throughout the conversation, we'll uncover the potential pitfalls of neglecting estate planning and the legal complexities that can arise without proper preparation. From minimizing tax burdens to protecting family members and business interests, our experts will provide invaluable insights into the multifaceted aspects of estate planning.
Enjoy!
Chapters:
0:00 - Introduction and overview on the topic of the day
2:11 - Welcoming Jack Weyers onto the show
4:00 - Why Jack feels compelled to orchestrate estate plans for families
7:34 - Some success stories in helping to avoid estate-related issues
11:22 - The key areas someone should be reviewing within their estate plan
16:58 - Do you need a trust?
21:50 - How Jack counsels families and navigates challenging wealth-related discussions
26:05 - Navigating situations where there were multiple marriages
31:42 - The picture hanging in Jack's office
36:26 - What an initial meeting with Jack and his team looks like
40:20 - How to get in touch with Jack and his team
42:28 - The key takeaways from today's episode
47:20 - How to get in touch with Matt and Scott for a deeper discussion on estate planning
48:40 - Closing remarks
Connect with Scott Morrison and Matt Nordmann:
Website
On the latest installment of Path to Abundant Living, we delve into the crucial realm of cybersecurity with none other than Cheyenne Harden, the visionary Owner & CEO of Cyber Protect LLC. With the digital landscape evolving at an unprecedented pace, the importance of cybersecurity has become more paramount than ever before.
Join us as we sit down with Cheyenne to unravel the complexities of cybersecurity in today's interconnected world. From the rising threat of cyber attacks to the indispensable measures needed to safeguard our digital assets, Cheyenne provides invaluable insights garnered from years of experience at the forefront of cybersecurity innovation.
Through engaging anecdotes and expert analysis, Cheyenne sheds light on the evolving nature of cyber threats, emphasizing the need for proactive strategies to mitigate risks and fortify defenses. Whether you're a seasoned tech enthusiast or a curious novice, this episode promises to deepen your understanding of cybersecurity and its pivotal role in safeguarding our digital frontier.
Chapters:
0:00 - Introduction and overview on the topic of the episode
1:44 - How Matt and Scott met Cheyenne and his team
3:45 - Cheyenne's background and how he got involved in cybersecurity
7:21 - Statistics on the number of cyber criminals existing in today's day and age
12:39 - Strategies that you can implement to reinforce your cybersecurity efforts
16:14 - Best practices when it comes to passwords
22:20 - Leveraging a password manager and developing an effective pass phrase
27:53 - How we can stay up to date on the next new scam
32:52 - Reviewing the security measures in place with various internet browsers
39:09 - How to get in touch with Cheyenne and his team to learn more
41:40 - The key takeaways from today's episode
45:29 - Closing remarks
Connect with Scott Morrison and Matt Nordmann:
Website
On the latest episode of Path to Abundant Living, we sit down with the visionary Chris Johnson, Founder of On Target Living, to delve deep into the world of holistic well-being. Join us as we explore the crucial importance of living a healthy lifestyle and discover how Chris's organization is revolutionizing the way people approach their well-being.
Chris Johnson is not just a health expert; he's a passionate advocate for empowering individuals to achieve their full potential through sustainable and balanced living. In this interview, we uncover the core principles of On Target Living and the transformative impact it has had on countless lives.
Chapters:
0:00 - Introduction and overview on the topic of the day
1:28 - The intersection of wealth and health
4:40 - Why Matt calls Chris the "Super Action Figure"
7:45 - Your health is your greatest asset
13:23 - Knowing your numbers and which ones are most important
17:01 - What it means to be "living your life on target"
21:16 - Actionable steps you can be doing today to start living healthier
30:11 - Focus on the source. What nutrients do you really need?
36:03 - The story of Chris' father and how he left an impact on Chris
39:00 - The key takeaways from the conversation with Chris
43:02 - How to get in touch with Matt and Scott
43:50 - Closing remarks
Connect with Scott Morrison and Matt Nordmann:
Website
Join us in this enlightening episode as we sit down with Charis Santille, founder of Charis Your Life, a renowned organization dedicated to helping individuals achieve balance in their lives. In this thought-provoking conversation, Charis shares her insights and practical tips on how to cultivate a harmonious and well-rounded life in the midst of today's fast-paced world.
Discover the importance of creating a balance between work, personal relationships, and self-care, as Charis draws upon her extensive experience in coaching and personal development. We delve into the challenges many of us face in juggling various aspects of our lives and explore effective strategies to maintain equilibrium.
Chapters:
0:00 - Introduction and overview on the topic and guest for today's show
3:28 - Charis' backstory and her hot air balloon crash
8:20 - Navigating emotional challenges and trauma
11:33 - Emerging from trauma with a great passion for something important
16:37 - How Charis works with entrepreneurs and professionals to navigate challenges
21:01 - Struggling to accept compliments
23:48 - Wrapping your identity into one thing and then that thing changes
29:16 - Transitioning into retirement and the emotional challenges accompanying it
36:02 - When to begin preparing yourself for a major life transition
41:15 - How you can get in touch with Charis and learn more
42:20 - Key takeaways for Ryan, Scott and Matt
48:03 - Closing remarks
Connect with Scott Morrison and Matt Nordmann:
Website
On the latest episode of Path to Abundant Living, we unravel the transformative world of Concierge Medicine with none other than Dr. Dan Carlin, the visionary Founder & CEO of World Clinic.
Concierge Medicine, a paradigm shift in healthcare delivery, offers patients personalized, unhurried, and unparalleled access to their healthcare providers. Dr. Carlin, a trailblazer in this field, shares his invaluable insights and experiences, shedding light on the revolutionary changes Concierge Medicine brings to the healthcare landscape.
Discover how Concierge Medicine redefines the patient-doctor relationship, fostering a more profound connection built on trust, time, and personalized attention.
Chapters:
0:00 - Introduction and overview on the topic of the day
1:08 - Our most important asset is our pulse
3:06 - Welcoming Dr. Dan Carlin onto the show
4:14 - An overview on Dr. Carlin's background and the beginning of World Clinic
8:32 - Our bodies are designed to respond to the workload we take on
11:40 - Habits of a healthy lifestyle
19:20 - The fear of the fall
21:08 - Making consciousness decision to incorporate physical activity in your daily routine
25:08 - The U.S. Healthcare system is in trouble
30:19 - "I wish I had seen you three months ago"
35:45 - The benefits of leveraging an executive physical
38:10 - Where to learn more about World Clinic and Dr. Carlin's work
40:39 - Key takeaways from Dr. Carlin
47:30 - How to get in touch with Matt and Scott
48:45 - Closing remarks
Connect with Scott Morrison and Matt Nordmann:
Website
The real estate market has been rapidly changing over the last few years, and rising interest rates are making an impact on home purchases at large!
On the latest episode of Path to Abundant Living, we're thrilled to welcome Brooks Warner, Co-Owner of the Mitten Home Team, to unpack a variety of pressing real estate questions, best practices when buying a home, and what you should be on the lookout for!
Brooks' extensive experience in real estate will leave you with some helpful considerations, should you be interested in purchasing a home.
Timecodes:
0:06 - Introduction and overview on the topic of the day
1:36 - Why we decided to invite Brooks onto the show
4:20 - The rising interest rates in today's day and age
6:54 - "Reverting to the mean"
11:33 - Navigating tricky situations when a client believes their home is worth more
13:48 - What people can be doing to add value to their home before selling
20:48 - How neighbors can enter the picture when selling your team
25:11 - Instances where Brooks is both the buyer's and seller's agent
30:24 - Where Brooks believes interest rates will go in the future
35:20 - How to get in touch with Brooks and his team
36:14 - Closing remarks and parting thoughts
Connect with Scott Morrison and Matt Nordmann:
Website
It all began with Lieutenant Col. Dan Rooney’s flight home from his second tour of duty in Iraq. An F-16 fighter pilot in the Oklahoma Air National Guard, he became painfully aware of the realities families face when a loved one in uniform is fallen or disabled.
Since that night, Lt Col Rooney has committed his life to rallying patriotic Americans and meeting sacrifice with hope through the Folds of Honor. Since 2007, they’ve provided life-changing scholarships to the spouses and children of America’s fallen or disabled military. And now, their mission expands to the families of America’s first responders.
Since its birth, Folds of Honor has helped over 44,000 military and first responder families with nearly $200,000,000 in life changing scholarships.
Join us for a very special episode of Path to Abundant Living, where we discuss Folds of Honor, "going before you're ready," and some of the pivotal life experiences Dan Rooney has faced along his path.
Timecodes:
0:06 - Introduction and overview on the topic of the show
1:45 - How Matt came to know Lt Col Dan Rooney
4:30 - Welcoming Dan Rooney to the show
6:21 - How Folds of Honor was developed during a moment of synchronicity
9:58 - Scaling Folds of Honor and making a real impact
18:37 - Dan's new book "Fly into the Wind" and the life lessons throughout
24:13 - "Chair flying" and "Go before you're ready"
28:13 - How someone can get involved with Folds of Honor and make a difference
31:23 - Where the money donated to Folds of Honor goes exactly
34:00 - How Dan was able to land Budweiser as a partner with Folds of Honor
37:15 - What's on the horizon for Dan Rooney
40:15 - Matt's overall impression of Dan Rooney and what he got out of the conversation
43:30 - Ryan working on the Folds of Honor documentary several years ago
46:20 - Closing remarks
Connect with Scott Morrison and Matt Nordmann:
Website
In a world where words often fall short, understanding the subtle art of nonverbal communication can be a game-changer. From the tilt of a head to the twitches of a hand, our body language reveals more about our thoughts and emotions than we might realize.
On the latest installment of Path to Abundant Living, we welcome Joe Navarro renowned author, speaker, and former FBI agent, to discuss his decades of expertise in deciphering the unspoken cues that shape our interactions.
This episode is packed with helpful takeaways to improve your nonverbal communication skills!
Timecodes:
0:06 - Introduction and overview on the topic of the day
1:30 - How Scott and Matt met Joe and became fascinated with his career
3:34 - Welcoming Joe Navarro to the show
5:31 - Getting "the edge" in negotiations
10:12 - The power of nonverbal communication
15:43 - The importance of 18 minutes
22:46 - Presenting yourself in a more sideways manner when communicating with someone
29:00 - "Listen to understand, rather than listen to reply"
33:42 - How Joe can tell if someone is lying
44:00 - How you can find Joe and his consulting work online
48:00 - Matt's key takeaways from the conversation with Joe
50:46 - Closing remarks
Connect with Scott Morrison and Matt Nordmann:
Website
It's easy to drag your feet on making financial decisions. We're all guilty of it. However, indecision, or a lack of action, can be detrimental to your financial world and keep you from achieving the future goals you have in mind!
On the latest episode of Path to Abundant Living, we're addressing seven items you can be doing right now to reinforce your financial world and put you on the path to abundant living.
Timecodes:
0:06 - Introduction and overview on the topic of the day
1:39 - Why you should be addressing your Powers of Attorney now
5:23 - It's never too early to consider estate planning efforts
8:00 - Take a second look at your insurance coverages
10:50 - Examine your specific assets and identify coverages from there
14:23 - Pay yourself first
20:21 - Have your end goal in mind
24:23 - Have a mentor or guide to support you in achieving your goals
27:28 - Assess your good and bad debt
33:50 - Identify your legacy
39:43 - Leverage a third party facilitator to help with legacy conversations
42:36 - Living an amazing life of significance
47:35 - How to get in touch with Matt and Scott
48:34 - Closing remarks
Connect with Scott Morrison and Matt Nordmann:
Website
On the latest episode of Path to Abundant Living, we're taking a different approach to our typical conversations. This time around, Matt and Scott are tackling some of the most pressing questions they've been receiving from their clients. As the financial landscape continues to evolve, it's crucial to stay informed and empowered to make well-informed decisions.
Join Matt and Scott as they delve into the complex world of personal finance, providing invaluable insights and practical advice to help listeners navigate the uncertainties that come with managing their wealth. With their wealth of knowledge and experience, they aim to address the most common concerns and provide clarity on key financial topics.
Timecodes:
0:06 - Introduction and overview on the topic of the day
1:29 - Questions surrounding the debt-ceiling
7:35 - How bad is inflation and where will it go from here?
13:28 - Are we headed towards a recession?
15:53 - Clarification surrounding the recent banks failing
21:05 - The rising interest rates and how you're impacted
24:30 - You need to be taking your estate planning efforts seriously
27:28 - Moving towards a cashless society
30:10 - Should I be moving my money to gold or crypto?
34:50 - Why it seems like no one is working anymore?
38:36 - Shirtsleeves to shirtsleeves in three generations
45:18 - How you can get in touch with Matt and Scott
46:00 - Closing remarks
Connect with Scott Morrison and Matt Nordmann:
Website
While wealth is a primary focus on our podcast, we're taking a different approach today and examining the importance of health. Without a healthy lifestyle, your Path to Abundant Living could be quite short!
On the latest episode of Path to Abundant Living, we welcome Chris Johnson, Founder & CEO of On Target Living, and Matt Johnson, President of On Target Living, to discuss their signature REST EAT MOVE system.
As the company's Founder, Chris has become an international speaker, thought leader and best-selling author. He is on a mission to inspire people to take small steps to healthy living.
Timecodes:
0:06 - Introduction and overview on the topic of the day
1:16 - How Matt and Scott met Chris Johnson of On Target Living
3:10 - Background on Chris Johnson
4:48 - How Chris launched On Target Living
9:06 - What differentiates On Target Living from other health and fitness organizations
11:27 - We're not truly taught the foundations of health in schools, which leads to medical illiteracy
15:07 - Your "why" needs to be bigger than your "but"
18:22 - How On Target Living impacts lives on a regular basis
20:27 - How Matt came into the fold and began working with his Dad
27:37 - Their passion for giving back and impacting someone's life
32:45 - The challenges of working with family
36:26 - What they enjoy most about running a family business
40:32 - How their parents impacted their relationships with money
44:55 - Farewell to Chris and Matt
48:03 - Final takeaways and key considerations from this conversation
51:28 - Closing remarks
Connect with Scott Morrison and Matt Nordmann:
Website
On the latest episode of Path to Abundant Living, we're pleased to welcome Cindy Arledge to the show to discuss the increasingly popular topic of legacy planning!
Cindy Arledge, MBA brings a fresh new approach to an age-old problem: how to transfer wealth without destroying your beneficiaries’ ambition and drive, and their relationships to each other.
Motivated by the most painful experience of her life, losing a brother’s relationship over a shared inheritance, Cindy developed a process to help business owners preserve family relationships through emotional and financial storms.
Cindy shares her unique insights into the world of legacy planning and gives us some considerations for our own futures.
Timecodes:
0:06 - Introduction and overview on the topic of the day
1:23 - How Matt and Scott became acquainted with Cindy
4:18 - Welcoming Cindy Arledge to the show
6:35 - What is legacy planning?
9:55 - What Cindy enjoys the most about working in legacy planning
11:45 - Working with tougher clients
13:38 - There are 22 conditions that impact a family's ability to transfer wealth successfully
17:23 - Values-driven conversations among families
23:05 - It starts with knowing how to manage wealth
27:26 - How her inheritance has impacted Cindy's relationship with money
30:23 - Your "why" is incredibly important in this legacy planning process
32:21 - Conduct a free risk audit with Cindy
33:44 - Closing remarks
Connect with Scott Morrison and Matt Nordmann:
Website
You've worked so hard to achieve success and the wealth that comes along with it. For many people in this position, they look to travel as a means of enjoying that wealth and creating long-lasting memories for them and their families.
On the latest episode of Path to Abundant Living, Matt and Scott are joined by Cindy Gonzalex, Owner & Designer at Theory of Travel, for a great conversation surrounding her efforts to create custom curated travel experiences and eliminate the hassle of vacation planning for you.
Cindy shares some fantastic travel strategies, as well as her top destinations she's sending individuals and families these days. You don't want to miss this fun episode!
Timecodes:
0:06 - Introduction and overview on the topic of the day
3:00 - Travel is an important item for many affluent families and individuals
5:00 - Cindy joins the show and describes Theory of Travel
6:50 - Cindy's process on getting to know her clients and curating a custom travel experience
8:39 - Steering her clients toward one destination versus another
10:20 - Educating her clients on what unique travel opportunities exist
12:18 - Cindy's ideal clients
16:38 - Safety concerns when traveling to exotic locations
20:16 - Cindy's top 3 destinations in 2023
24:08 - Additional travel tips and considerations
26:19 - Ryan's experience using a concierge vacation planning service
28:00 - Scott's experience having to cancel a vacation due to Covid-19
31:55 - Closing remarks
Connect with Scott Morrison and Matt Nordmann:
Website
If you’re a business owner who decides to sell or transition the ownership of your business, do you know what your next move will be? For some entrepreneurs who want to stay part of the business world they know so well, becoming an independent consultant can be a new stage in their entrepreneurial lives.
On the latest episode of Path to Abundant Living, we’re taking a look at some key issues involved in transitioning from being a business owner to being a business consultant.
Timecodes:
0:06 - Introduction and overview on the topic of the day
2:03 - The trend of business owners becoming consultants
3:22 - The benefits of becoming a consultant
4:47 - Being a consultant can smooth the transition into retirement
6:09 - What you should be aware of when becoming a consultant
7:56 - You need to have a plan in place when transitioning into your consultancy career
10:06 - How to physically land the consultancy gig
12:08 - This isn't going to be an easy process overall
14:52 - Why did you sell your business in the first place?
16:23 - How to get in touch with Matt and Scott to discuss this further
17:45 - Closing remarks
Connect with Scott Morrison and Matt Nordmann:
Website
We all want to achieve our goals and help the people we care about most reach their objectives. However, we’re not always certain about the best way to make that happen!
On the latest installment of Path to Abundant Living, we’re examining how the idea of positive thinking, while helpful, can actually hold you back if you don’t augment it with a smart action plan.
Timecodes:
0:06 - Introduction and overview on the topic of the day
1:39 - Positive thinking sounds great in theory
2:32 - The downside of positive thinking
4:07 - What research on positive thinking tells us
6:30 - An example of taking a positive action step forward
7:55 - You need to do the work!
10:01 - How you can be more focused and effective when achieving your goals
12:21 - Task switching and advice for staying on track
14:35 - How you can get in touch with Matt and Scott's team
15:55 - Closing remarks
Connect with Scott Morrison and Matt Nordmann:
Website
We’re living longer than ever these days! That means our wealth may need to see us through what could be an extremely lengthy retirement. This can sometimes be a double-edged swrod scenario. On the latest installment of Path to Abundant Living, we’re exploring how an increasingly important aspect of wealth management, called longevity planning, can potentially help position our finances for the long haul. Timecodes: 0:06 - Introduction and overview on the topic of the day 1:50 - Living longer is a double-edged sword 3:10 - How wealth managers are addressing these issues 5:15 - How wealth management is being used to ensure their wealth is well-positioned 7:45 - Concierge medicine and how it plays a role within wealth management 10:20 - Longevity planning should take estate planning into account 11:25 - The issues that pop up within estate planning in this moment 13:16 - What you should be discussing with your trusted advisors 14:47 - Where to begin with putting solutions in place 16:20 - How to get in touch with Matt and Scott 17:10 - Closing remarks
Connect with Scott Morrison and Matt Nordmann: https://morrisonnordmann.com/ (Website) https://www.linkedin.com/in/scott-morrison-1ab16a91/ (LinkedIn)
Business owners want to better understand their clients so they can serve them exceptionally well and grow their enterprise. And while surveys, market research and other tools can be key parts of that effort, there’s another smart marketing strategy that too many entrepreneurs overlook. On the latest episode of Path to Abundant Living, we're diving into the surprising value of utilizing a client advisory board! Timecodes: 0:06 - Introduction and overview on the topic of the day 1:30 - The twist on a traditional approach 2:54 - What does a client-focused board of advisors does and how they operate 5:11 - Why this board is valuable to you and your business 6:30 - The results associated with a top-tier client advisory board 9:35 - The board should consist of your top clients 12:09 - How to ask your client to be a part of this board 14:13 - How you can get in touch with Matt and Scott 16:00 - Closing remarks
Connect with Scott Morrison and Matt Nordmann: https://morrisonnordmann.com/ (Website) https://www.linkedin.com/in/scott-morrison-1ab16a91/ (LinkedIn)
When advisors truly know their clients, as people and not just numbers on a paper, they can better help them achieve their financial and other goals. In the latest episode of Path to Abundant Living, Matt and Scott are exploring the value associated with having advisors that are truly client-centric, as well as how you can identify if your current advisor takes a client-centric approach. Timecodes: 0:06 - Introduction and overview on the topic of the day 1:30 - How wealth management has changed to become more client-centric overall 2:30 - The steps wealth managers are taking to understand their clients on a deeper level 3:33 - What a thorough discovery process looks like 6:40 - An example of detailed discovery process and the key areas it identifies 9:28 - Your assets are just one small component of a much bigger picture 13:29 - Identifying your values is a complex process 15:40 - How you can get in touch with Matt and Scott to go through their discovery process 16:55 - Closing remarks
Connect with Scott Morrison and Matt Nordmann: https://morrisonnordmann.com/ (Website) https://www.linkedin.com/in/scott-morrison-1ab16a91/ (LinkedIn)
We all have various personality traits. Some of us are introverts while others are extroverts, for example. However, did you know that you also have a wealth personality and it can have a big impact as you pursue your financial goals? On the latest installment of Path to Abundant Living, Matt and Scott are diving deep into the various high-net-worth personality types that exist today. Listen as they outline the various options out there, as well as strategies to help identify which category you fall into. By recognizing which high-net-worth personality type you have, you can position yourself to make financial decisions that are more aligned with your goals for the future. Timecodes: 0:06 - Introduction and overview on the topic of the day 1:25 - What do we mean by high-net-worth personality types? 3:15 - Your HNW personality should be similar to your wealth manager's HNW type 4:45 - The most popular high-net-worth personality types 6:35 - Additional high-net-worth personality types that exist today 9:30 - Why it's beneficial to work with a wealth manager that understands your HNW type 11:30 - How to identify which HNW type you align with 17:00 - Can you have a combination of two HNW types? 18:55 - How you can get in touch with Matt and Scott 20:30 - Closing remarks Connect with Scott Morrison and Matt Nordmann: https://morrisonnordmann.com/ (Website) https://www.linkedin.com/in/scott-morrison-1ab16a91/ (LinkedIn)
Many of us have thought about how to best transfer our wealth to our heirs someday. Unfortunately, parents and grandparents with significant assets don’t always spend enough time on passing along the values that helped them build, grow and maintain that wealth. On the latest installment of Path to Abundant Living, Scott and Matt are examining the importance of transferring financial values to our kids and some of the best methods to do so. Sit back, relax, and enjoy another enlightening episode that's bound to leave you with some considerations for your own heirs! Timecodes: 0:06 - Introduction and overview on the topic of the day 1:52 - The issues and challenges that arise when values aren't transferred to heirs 3:20 - The types of heirs that better avoid these issues 5:15 - The first step in educating your heirs on values 7:39 - Ongoing communication is essential 10:08 - The ideal times or moments when these financial discussions will resonate with heirs 12:35 - Action steps that matriarchs or patriarchs can take to begin instilling values with heirs 15:30 - Advice for families that are working together to manage a business 18:25 - Final tips for transferring values to heirs 22:00 - How you can get in touch with Matt and Scott for additional information 23:33 - Closing remarks
Connect with Scott Morrison and Matt Nordmann: https://morrisonnordmann.com/ (Website) https://www.linkedin.com/in/scott-morrison-1ab16a91/ (LinkedIn)
With so many changes in the world, and perhaps in your own family, a trust you’ve set up to achieve your financial goals could be out of date even if it’s just a few years old. On the latest installment of Path to Abundant Living, we're examining how to size up the current status of a trust to see whether it's still on track, so you can decide if any changes are appropriate. This is a routine conversation that Scott and Matt are having with their clients at Morrison Nordmann & Associates, so there's plenty of great information packed into today's episode! Sit back, relax, and enjoy another enlightening conversation! Timecodes: 0:06 - Introduction and overview on the topic of the day 2:05 - There's more to the process than simply setting up a trust 2:50 - Why a trust may become outdated 3:50 - Where to begin the process of reviewing your existing trust 6:30 - Items overlooked on a trust that need to be updated 8:35 - The mistakes that people make when it comes to their trusts 11:18 - The next steps needed to ensure your trust is operating at an optimal level 14:12 - What a stress test could uncover about someone's trust 16:44 - This process is done hand-in-hand with a team of professionals 19:22 - How to get in touch with Matt and Scott to continue this conversation 20:02 - Closing remarks
Connect with Scott Morrison and Matt Nordmann: https://morrisonnordmann.com/ (Website) https://www.linkedin.com/in/scott-morrison-1ab16a91/ (LinkedIn)
Being wealthy and successful is great in many ways, but it can put a target on your back for frivolous lawsuits. Asset protection planning can help you better safeguard your wealth. In the latest installment of Path to Abundant Living, Matt and Scott explore some foundational asset protection strategies that you may want to consider. Matt and Scott are routinely having these conversations with their clients to put them on their own path to abundant living, while also building a proverbial wall around their wealth. So sit back, relax, and enjoy another thought-provoking conversation! Timecodes: 0:07 - Introduction and overview on topic of the day 1:47 - What is asset protection and who needs it? 4:15 - People don't often have adequate asset protection plans in place 5:42 - How someone should start this process of getting an asset protection plan in place 6:50 - What should your asset protection plan entail and address? 9:00 - Next-level asset protection strategies to consider 11:10 - Utilize the right team for your asset protection plan! 12:57 - The mistakes Matt and Scott often see on asset protection plans 16:26 - How to get in touch with Matt and Scott to discuss asset protection for yourself 18:45 - Closing remarks
Connect with Scott Morrison and Matt Nordmann: https://morrisonnordmann.com/ (Website) https://www.linkedin.com/in/scott-morrison-1ab16a91/ (LinkedIn)
Affluent families and individuals often have an overwhelming amount of things on their plate, making it easy to overlook issues tied to one of their largest assets. Our homes are not only a massive asset, but they are also important to our financial security and personal sense of stability. In the latest installment of Path to Abundant Living, Matt and Scott are identifying the five critical mistakes that affluent homeowners are making today. Whether it be a lack of adequate coverage, or ensuring the right items are covered under different policies, affluent families are regularly making costly mistakes! This is an episode packed with useful information to help mitigate risk within your portfolio and bolster your financial plan overall. So sit back, relax, and enjoy yet another thought-provoking episode! Timecodes: 0:06 - Overview on the topic of the day 1:44 - Why homeowners should be doing a financial check up on their homes 3:20 - The five most significant mistakes homeowners are making these days 5:30 - The most concerning issues with making these mistakes 7:30 - How someone can tell if they have a lack of adequate coverage 8:46 - Issues for families that have more than one home 10:30 - The importance of listing LLC's on a homeowners insurance policy 12:16 - Issues related to homes with unique architecture or building materials 14:20 - Issues related to valuable collections and heirlooms 17:20 - Next steps for those looking to take action and mitigate these potential risks 20:13 - Closing remarks
Connect with Scott Morrison and Matt Nordmann: https://morrisonnordmann.com/ (Website) https://www.linkedin.com/in/scott-morrison-1ab16a91/ (LinkedIn)
One mistake that can be so easy to make is focusing on one aspect of our financial life. In doing so, we can miss opportunities as well as take on unnecessary levels of risk. In the latest installment of Path to Abundant Living, Matt and Scott explore methods to avoid that problem and address the full range of financial concerns through wealth planning. Ultimately, it comes down to analyzing your full financial picture! While investment management plays a role in this conversation, your advanced needs are also considered, like wealth protection, tax mitigation, estate planning, and charitable giving. Sit back, relax, and enjoy another enlightening episode that provides a complete overview on wealth planning and its importance. Timecodes: 0:06 - Overview on the topic of the day 1:52 - What is wealth planning? 3:53 - A common technique across wealth planning efforts 6:03 - The various types of trusts that exist and why they're a nice wealth planning tool 7:40 - How life insurance is also a unique tool within the wealth planning toolkit 9:59 - How might wealth planning address concerns for business owners? 13:21 - What someone should be looking for in a wealth manager 14:05 - A deeper dive into these principles that comprise a great wealth manager 19:44 - Closing remarks
Connect with Scott Morrison and Matt Nordmann: https://morrisonnordmann.com/ (Website) https://www.linkedin.com/in/scott-morrison-1ab16a91/ (LinkedIn)
In the latest installment of Path to Abundant Living, Scott and Matt take a different approach to their typical conversations and address the best practices for generating a significant level of wealth. There's no denying that entrepreneurship is the most effective method of generating wealth, but it takes more then a great business plan. Matt and Scott identify and take a deep dive into the four drivers of success: a commitment to achieve, a quality business model, an ability to build strong relationships, and a willingness to engage with elite wealth planners. Additionally, Scott and Matt share their own personal experiences with entrepreneurship and the lessons they learned along the way! So sit back, relax, and enjoy an intriguing conversation in this special edition of Path to Abundant Living. Timecodes: 0:04 - Welcome to the show and overview on the topic of the day 2:00 - Entrepreneurship is one of the most effective ways to generate significant wealth 3:08 - The four best practices of the most successful entrepreneurs 5:06 - The commitment to achieve success 7:14 - The commitment itself isn't enough and action needs to be taken 9:10 - The importance of developing a high-quality business plan 11:33 - The ability to build powerful relationships and its impact on wealth creation 13:46 - Insight on building and maintaining a high-quality team around you 16:03 - Why working with the right professionals is so important to elevate a company's status 19:58 - Scott and Matt share experiences from their own relationship with entrepreneurship 22:47 - Summarizing how entrepreneurship is the most effective way of generating wealth 25:18 - Closing remarks
Connect with Scott Morrison and Matt Nordmann: https://morrisonnordmann.com/ (Website) https://www.linkedin.com/in/scott-morrison-1ab16a91/ (LinkedIn)
One of the biggest concerns facing affluent families is how to manage their wealth so that it achieves many goals. Their focus could be continuing to grow their wealth as it is transferred to younger generations, or aligning the use of that wealth with the values and ideals the family holds dear, or even protecting that wealth from creditors and others who might seek to take it unjustly. Often the best place to start, is to ensure that your family members are aligned when it comes to key issues. A family constitution can be a great way to get that process going. In the latest installment of the show, Scott and Matt explore the benefits of establishing a family constitution to ultimately promote clarity and harmony when it comes to managing family wealth. Timecodes: 0:05 - Welcome to the show and overview on the topic 2:20 - The types of challenges arising when families with wealth work together to manage their assets 4:30 - Specific wealth-related issues with families possessing significant assets 5:43 - What families can do to create and maintain harmonious relationships surrounding their wealth 7:07 - How a family constitution works and promotes better relationships across the family 8:48 - How a family would go about drafting this document 11:22 - Who from a given family should be involved in discussing these issues 13:17 - Is this a legal and binding document? 15:00 - How does this document remain relevant over time? 16:35 - Who families can turn to for help with this process 18:47 - Summarizing the benefits of the family constitution 20:59 - Closing remarks
Connect with Scott Morrison and Matt Nordmann: https://morrisonnordmann.com/ (Website) https://www.linkedin.com/in/scott-morrison-1ab16a91/ (LinkedIn)
In the latest installment of Path to Abundant Living, Scott and Matt address a new topic, surrounding the roles and responsibilities of an executor. When faced with this role, oftentimes, individuals are unaware of the full extent of responsibilities that accompany this role. Additionally, an executor faces an apparent level of personal risk when assuming this position. Listen as we dive into the duties of the role, as well as the assortment of variables to consider. So sit back, relax, and enjoy a thought-provoking conversation that will leave you considering whether or not you're suited for the role of an executor. Timecodes: 0:05 - Overview on the topic of the day 1:38 - What is an executor? 4:35 - There should be careful consideration before accepting the position of an executor 6:04 - What is involved in finding and filing the will 7:45 - The challenge of locating all of the assets in a given estate 9:56 - Advice for executors currently searching for the estate's assets 12:04 - An executor's role of paying out existing debts or liabilities 14:24 - People are often surprised when they learn of the roles and responsibilities of the position 16:04 - The personal level of risk involved in being an executor 20:02 - You must keep detailed records as an executor 23:20 - Closing remarks
Connect with Scott Morrison and Matt Nordmann: https://morrisonnordmann.com/ (Website) https://www.linkedin.com/in/scott-morrison-1ab16a91/ (LinkedIn)
In the latest installment of Path to Abundant Living, Scott and Matt explore the complex nature surrounding inheritances. The big question surrounding this topic is: Are your heirs ready to deal with the wealth you may be planning to pass on to them someday? It's an unfortunate fact that inheritors often struggle with their windfalls in a way that can be hazardous to the overall wealth. It takes proper planning and clear communication to alleviate any potential problems that could occur with the inheritance itself, as well as the beneficiaries' spending habits afterwards. We all understand the general process behind inheritances, but this episode unveils the intangible elements that come into play, especially when a significant level of wealth is being transferred. So sit back, relax, and enjoy another enlightening conversation that sheds light on a topic we all thought we knew. Timecodes: 0:05 - Introduction and overview on today's topic 1:24 - Why inheritances overall can be a double-edged sword 3:50 - The internal and external problems beneficiaries can face during this process 5:55 - Where to begin with addressing these issues and help prepare the heirs 7:15 - What affluent families are doing and not doing when it comes to preparing heirs 9:00 - Where to begin with fostering a level of financial intelligence with future heirs 11:26 - An individual's. current view and actions with wealth can tell you a lot 14:32 - Is there an approach that's more appealing to educate an heir? 17:29 - Additional elements family matriarchs and patriarchs should be considering 20:10 - These education efforts are universal and shouldn't change depending on amount of wealth 22:00 - Who families can turn to for help with this entire process
Connect with Scott Morrison and Matt Nordmann: https://morrisonnordmann.com/ (Website) https://www.linkedin.com/in/scott-morrison-1ab16a91/ (LinkedIn)
In the second installment of Path to Abundant Living, Matt and Scott explore the key ingredient missing within most wealth managers and why affluent individuals should be demanding more out of their financial planning professional. It’s no secret that the affluent have access to the top financial professionals, who possess the highest levels of financial acumen attainable. However, in most cases, that isn’t enough to efficiently and effectively manage a client’s portfolio. In this episode, Matt and Scott highlight the importance of the human element and its role within their conversations with clients. Only by understanding the client’s core values and personal goals, will a wealth manager be able to develop the most effective wealth strategy. So sit back, relax, and enjoy another enlightening conversation surrounding the client. By understanding what is most important to you, and what you hope to ultimately achieve your wealth, your wealth manager can begin to set you on the path to abundant living. Timecodes: 00:06 – Introduction and overview on today’s episode 02:22 – Why those with significant assets should be demanding more from their wealth manager 04:00 – The missing link when it comes to a majority of wealth managers today 05:15 – What the human element entails 8:25 – Why the human element is so important within wealth management specifically 11:00 – How the human element is weaved into the overall stress testing process 12:40 – Instances where a stress test reveals no problems 14:06 – How to assess whether a wealth manager cares about the human element as a whole 17:21 – What Matt and Scott would look for when seeking out a wealth manager 18:28 – The discovery process at Morrison, Nordmann & Associates 20:10 – Other important aspects when it comes to delivering the human element 22:42 – Closing remarks Connect with Scott Morrison and Matt Nordmann: https://morrisonnordmann.com/ (Website) https://www.linkedin.com/in/scott-morrison-1ab16a91/ (LinkedIn)
In the inaugural episode of Path to Abundant Living, we introduce you to Scott Morrison and Matt Nordmann, Managing Partners of Morrison, Nordmann & Associates, as they shed light on one of the most important financial conversations of all - the stress testing process. Stress tests are an integral part of Scott and Matt's wealth management process and they are designed to evaluate whether an individual, family, or business's current financial portfolio is likely to generate the results they want and expect. Scott and Matt work with an array of clients, with varying net worths, and there are numerous lessons to be learned in watching the stress testing process be utilized throughout these different circumstances. So sit back, relax, and enjoy and enlightening conversation surrounding the benefits of this process and how a stress test can be used to benefit your own wealth management strategy. Timecodes: 00:06 - Show introduction and overview on the show 01:05 - Introducing Scott Morrison and Matt Nordmann 02:22 - What people can be doing right now to give them peace of mind about their finances? 04:10 - Why the stress testing process is so valuable 06:14 - The three main ways a stress test can be utilized 07:54 - An example of why someone was prompted to come get a stress test 10:15 - An example of how a stress test helped benefit someone's financial situation 13:08 - The keys to make sure a stress test is being done well 14:00 - How the human element comes into play during this stress testing process 15:56 - How Scott and Matt get into the heart of their clients' goals and values 20:00 - A lesson that can be learned from the super rich individuals 23:00 - What the stress testing experience looks like when working with Scott and Matt 27:27 - Final remarks Connect with Matt and Scott: https://morrisonnordmann.com/ (Website) https://www.facebook.com/Morrison-Nordmann-And-Associates-101591265459321/ (Facebook) https://www.linkedin.com/in/scott-morrison-1ab16a91/ (LinkedIn)