Wealthy HOMES: Recent Episodes
Connor Bauserman, ChFC®
Financial planning for young Michigan families. We cover everything from personal budgets, to investments, to insurance, and everything in between. Be a fly on the wall during conversations from not only an independent financial advisor, but other financial professionals from around Michigan. What's the goal? To give you relevant and actionable financial knowledge to better yourself and your family.
Podcast Summary: Interview with Nate Baumann from LVZ Investment Management
In this episode of the Wealthy HOMES Podcast, I had the pleasure of chatting with Nate Baumann from LVZ Investment Management. Nate brought his insights and expertise to give us a comprehensive look at the current financial landscape, with a focus on several key areas that are top of mind for investors.
Market Overview We kicked things off with an overview of the current market. Nate highlighted the main trends and events shaping the financial world today. From economic growth indicators to geopolitical tensions, he provided a detailed snapshot of what’s been moving the markets lately.
Interest Rates Interest rates have been a hot topic, and Nate did a great job explaining the recent changes and their implications. He shared his thoughts on how interest rates might evolve soon and what investors should keep an eye on. Spoiler alert: staying informed and adaptable is crucial.
Presidential Election Effects With the presidential election on the horizon, we drove into how such political events historically impact the stock market. Nate discussed potential market reactions as the election approaches and offered some strategic advice for investors navigating this period of uncertainty.
Importance of Diversification Even with stellar performers like NVDA capturing headlines, Nate emphasized the enduring importance of diversification. He warned of the risks associated with overconcentration in single stocks or sectors and shared tips on how to balance portfolios and manage risk while seizing opportunities.
Money Markets Money markets often serve as a safe haven, and Nate shed light on their current state. He also advised on indicators that signal it might be time to move out of money markets and explored some good alternatives for conservative investors seeking other options.
Audience Questions We wrapped up with a few audience questions. Nate shared one piece of advice for young families: focus on building a solid financial foundation. Lastly, for those interested in learning more about LVZ Investment Management, Nate pointed listeners to their website and resources.
This episode is packed with practical advice and market insights, making it a must-listen for anyone looking to stay ahead in their financial planning. Tune in to get the full scoop from Nate Baumann!
Nate's LinkedIn: https://www.linkedin.com/in/natebaumann/
LVZ Website: https://lvzinc.com/
LVZ Facebook Page: https://www.facebook.com/LVZFinancialPlanning
Nate Baumann has securities offered through Harbour Investments, Inc. Advisory Services offered through LVZ, Inc. (https://lvzfinancialplanning.com/disclosures/) Connor Bauserman has securities and advisory services offered through Harbour Investments, Inc.
Wealthy HOMES Podcast Show Notes
Episode 53: Protecting Your Wealth with Josh Cary from JC Insurance
Welcome back to another episode of the Wealthy HOMES Podcast! I'm your host, Connor Bauserman, financial advisor with Preferred Financial Group. In this episode, we’re diving into the often overlooked but crucial aspect of wealth management: protecting your assets. To help unpack this topic, I’m joined by Josh Cary from JC Insurance, who shares invaluable insights on how to safeguard your wealth.
Key Topics Covered:
- Josh Carey’s Journey: Josh shares his background, how he got into the insurance industry, and what sets an independent insurance agent apart from captive agents.
- Insurance Rate Increases: Understand the factors behind rising insurance premiums and how to mitigate their impact.
- Independent Insurance Agents: Discover the benefits of working with an independent agent and how they can provide more customized insurance solutions.
- Wedding Insurance: Explore a unique niche in the insurance market—wedding insurance. Learn what it covers and why it's essential for your big day.
- Saving Money on Insurance: Tips on how to save on home and auto insurance by adjusting deductibles and other strategies.
- Personal Advice for Young Families: Josh shares practical advice on building a solid financial foundation and managing the costs of raising a family.
Guest Information:
- Josh Cary: Independent Insurance Agent at JC Insurance
- Contact Josh:
- Phone: (616) 777-3013 (Call or Text)
- Email: jcary@shieldagency.com
- Website: Wedding Insurance MI
- https://jcinsurancemi.com/
Where to Find Us:
- Podcast Host: Connor Bauserman
- Preferred Financial Group: Helping young families in Michigan build and protect their wealth.
- Follow Us:
Don't forget to subscribe, rate, and review the Wealthy HOMES Podcast! Stay tuned for more episodes where we help you build a secure and prosperous future for your family.
In this episode of the Wealthy Homes Podcast, we're diving deep into a topic that might not always be top of mind for our age group: Social Security. Join me as we explore the origins, evolution, and future of this vital component of retirement planning.
Social Security isn't just a safety net; it's a cornerstone of retirement income for many, constituting up to a third of retirees' financial support. But how did it all start? We journey back to the 17th century, when the concept of providing for the needy began with the "poor laws." Over time, societal changes led to the development of pension programs, including the Civil War pension and early company pensions, laying the groundwork for FDR's game-changing Social Security Act of 1935.
Fast forward to today, and Social Security faces challenges. With demographic shifts and economic strains, the program's sustainability is in question. We explore potential solutions, from adjusting taxation to raising the retirement age. But what does this mean for you?
Understanding Social Security's intricacies is crucial for maximizing benefits. We break down how your earnings history and retirement age impact your benefits, from calculating your Primary Insurance Amount to deciding when to claim benefits. And let's not forget about spousal and survivor benefits, which add layers of complexity to the decision-making process.
Timing is everything when it comes to Social Security. Should you claim early at 62, wait until full retirement age, or delay until 70 for maximum benefits? We crunch the numbers and discuss factors like life expectancy and income needs to help you make informed decisions.
But why should you care about Social Security now, even if retirement seems far off? The program's future affects everyone, from future retirees to current beneficiaries. By staying informed and advocating for responsible policies, we can ensure Social Security remains a reliable pillar of retirement planning for generations to come.
Have questions or want to dive deeper into your financial plan? Reach out to me, Connor, at cbauserman@hirep.net, and let's secure your wealthy future together.
Submit a question for Connor Here!
Check out Connor in other places-> https://linktr.ee/connor_bauserman
Welcome back to another episode of the Wealthy Homes Podcast! I'm your host, Conor Bauserman, joined by James Gilbert, another financial advisor here at PFG. Today, we're diving into some anonymous questions submitted by our listeners.
First up, we discussed a couple considering having one parent stay at home with their kids. With a solid financial foundation, including no debt except for a manageable truck payment, we encouraged them to go for it, emphasizing the priceless value of spending time with young children.
Next, we shared our thoughts on the current state of the real estate market and the dilemma of buying below the 20% down payment threshold. We advised not to obsess over timing but rather to focus on finding a home that fits your needs and financial capabilities.
Moving on, we addressed a listener's question about how much to contribute to their 401k after a pay raise. We recommended aiming for around 10-15% of income, emphasizing the importance of long-term financial planning and aggressive investment strategies for growth.
Then, we tackled the issue of handling student loan debt, emphasizing the urgency of paying it off as quickly as possible. We discussed strategies like the snowball and avalanche methods to efficiently tackle multiple loans with varying interest rates.
Finally, we delved into the topic of managing finances as a married couple, stressing the importance of combining finances to work towards shared goals. We suggested regular financial meetings and open communication to ensure alignment and accountability.
It was a great discussion covering a range of important financial topics. Remember, if you have questions of your own, feel free to submit them anonymously through our link tree on Facebook or LinkedIn, or here. Thanks for tuning in, and we'll catch you in the next episode!
The advice given is not personalized financial advice but rather general guidance based on the information provided. This episode is for informational and educational purposes only. Securities & Advisory Services offered through Harbour Investments, Inc. Member SIPC.
In this episode, Connor, your friendly host at the Wealthy HOMES Podcast, embarks on a captivating exploration of what it truly means to be wealthy. Beyond the conventional notion of financial riches, Connor reveals the five foundational pillars of genuine wealth: Money, Time, Relationships/Love, Physical Health, and Spiritual Health.
Highlights:
- Money Matters: Connor underscores the significance of financial independence and savvy money management. He shares invaluable insights into investment strategies tailored for long-term wealth accumulation, along with practical tips for breaking free from debt and cultivating sustainable financial habits.
- Mastering Time: Delving into the art of time management, Connor presents effective techniques for striking a harmonious balance between work, family commitments, and personal aspirations. He emphasizes the importance of prioritizing activities that foster joy and fulfillment, while also harnessing time as a catalyst for personal and professional growth.
- Nurturing Relationships: Connor sheds light on the profound impact of nurturing meaningful connections with family, friends, and loved ones. He discusses the art of fostering emotional bonds and building a supportive network, all while navigating the delicate dance of maintaining work-life equilibrium.
- Embracing Physical Wellness: Recognizing the indispensable role of physical health in the pursuit of holistic wealth, Connor shares practical strategies for embracing a lifestyle centered around vitality and longevity. From integrating fitness regimes into daily routines to adopting wholesome dietary practices, Connor offers a holistic approach to nurturing physical well-being.
- Cultivating Spiritual Harmony: Lastly, Connor explores the spiritual dimension of wealth, delving into practices that foster mindfulness, gratitude, and inner peace. By aligning values with actions and embarking on a journey of self-discovery, listeners are encouraged to unlock a sense of purpose and fulfillment that transcends material possessions.
Conclusion:
As Connor bids farewell to listeners, he leaves them with a poignant reminder that true wealth extends far beyond the confines of monetary abundance. By embracing the holistic framework of Money, Time, Relationships/Love, Physical Health, and Spiritual Health, individuals can embark on a transformative journey towards unlocking the full spectrum of human flourishing.
Stay tuned for more enriching discussions and empowering insights on financial literacy and holistic wealth-building in future episodes of the Wealthy HOMES Podcast. After all, true wealth begins with you!
Link to submit your Questions!
Welcome back to another insightful episode of the Wealthy Homes Podcast! I'm Connor Bauserman, your friendly neighborhood financial advisor from Preferred Financial Group, and today, we're revisiting one of our foundational discussions: the Circle Talk 2.0.
Now, if there's one episode, I'd recommend to anyone seeking financial wisdom, it's this one. As we approach our 50th episode milestone, I'm thrilled to reflect on how far we've come since our humble beginnings.
The Circle Talk is all about laying the groundwork for your financial journey, and it all starts with three crucial pillars: banking/savings, investments, and insurance.
First up, let's talk about banking and savings. Picture three circles on a whiteboard, each representing a pillar of money management. The first circle is all about your emergency fund. We're talking three to six months of expenses tucked away for a rainy day. Think of it as your financial safety net for life's unexpected curveballs—like that inevitable car repair or surprise medical bill.
Next, we tackle big-ticket purchases and planned expenses. Whether it's a new car, a down payment on a home, or that dream vacation, it's essential to stash cash for these milestones. By keeping these funds separate from your investments, you avoid market volatility and ensure your goals stay on track.
Now, onto the less glamorous—but equally vital—pillar: insurance. We start with property and casualty insurance, covering everything from your home to your wheels. Then, there's life insurance—a tough but necessary conversation. It's about protecting your loved ones and securing their future, no matter what life throws your way.
When it comes to life insurance, I'm a firm believer in term policies. They offer reliable coverage at a fraction of the cost, giving you peace of mind without breaking the bank. And remember, your coverage needs will evolve over time, so it's essential to reassess regularly.
But what about buying insurance through your employer? While it may seem convenient, it's not always the best long-term solution. Employer plans come with limitations and can vanish with a job change. That's why I recommend a balanced approach, mixing workplace coverage with individual policies for maximum flexibility.
And let's not forget disability insurance—a lifeline if illness or injury leaves you unable to work. While often overlooked, it's a crucial safeguard against financial catastrophe.
As we wrap up, remember: these pillars aren't just separate silos. They're interconnected, forming a sturdy foundation for your financial future. By prioritizing banking, savings, and insurance, you create a safety net that safeguards your investments and accelerates your path to wealth.
Got questions? Reach out anytime via email, phone, or our anonymous question portal. I'm here to help you navigate the maze of financial planning and build a brighter tomorrow.
Thanks for joining me on this journey. Until next time, stay financially savvy, my friends!
Link to send in your questions: https://tr.ee/06NMCIkgz6
Remember those MythBusters days? I sure do! 📺 Watching entire episodes just to get that satisfying "Plausible," "Busted," or "Confirmed." 🤯 So, in the spirit of channeling my inner Adam and Jamie, I present to you a spin-off episode: Money Myths! 💸🔍
Here are 8 common financial myths being put to the test:
Buying a Home is Always Better Than Renting 🏡
Carrying Credit Card Balances Boosts Your Credit Score 💳
Precious Metals Are Always a Good Investment 🪙
Giving up a daily coffee purchase is a financial game-changer ☕
Money can make you happiest 😃💰
My Partner Manages the Finances, So I Don’t Need to Know About Money 👫💼
I Have Enough Money; I Don’t Need to Budget 💸📊
All debt is bad debt 💳❌
Have you heard of these before? Be sure to tune in to hear how I get my answers!
Have a Question? Submit it here- https://65st8madhpz.typeform.com/to/NwRINN0w
WealthyHOMES #Mythbusters #MoneyMyths #FinancialMyths
Past performance is not a guarantee of future results. Securities & Advisory Services offered through Harbour Investments, Inc. Securities licensed in MI, FL, TN, CA, & WA. Member SIPC
Having guided countless young minds through career shifts, I've gained a unique perspective on the age-old dilemma: Should I stay or should I go? 🤷♂️
In the aftermath of the Great Resignation spurred by COVID-19, a whopping 40% of Americans embraced change. Fast forward to 2023, and job movements hit an unexpected low. 📉 What's the deal – a post-resignation lull or a sneak peek into future job stability?
Join me in decoding this career anomaly and unraveling the three key factors crucial in any career transition: Family, Money, and Benefits. 💼💰🌐
Whether you're pondering a career leap or a slight pivot, this episode is your compass. Let's navigate the career landscape together! 🚀👥 #CareerTransitions #GreatResignationLegacy #WealthyHOMESPodcast
Have a question? Submit it here!
Past performance is not a guarantee of future results. Securities & Advisory Services offered through Harbour Investments, Inc. Securities licensed in MI, FL, TN, CA, & WA. Member SIPC
Reflecting on an incredible year of The Wealthy HOMES Podcast with a huge shoutout to the amazing 20+ guests who joined me on this financial adventure in 2023. 🌟 Building a network of dedicated individuals, all on a mission to empower young families in their financial journeys. Here's to the memories we've made and the wisdom we've shared. Excited for what 2024 has in store and the fantastic guests yet to come! 🚀
Special Thanks to the 2023 Guests:
Ryan Underhill- Farmers Insurance
Kyle McGann- Supreme Lending
Pat & James Gilbert- PFG
Gavin Homer- The Homer Group with EXP
Sandy Derby- PFG
Marie Davis- CPCU
Chris Micklatcher- Fresh Start Tax Solutions
Ryan & Esther Leonard- The Leonard Group with EXP
Nate Bauman- LVZ Investment Management
Kyle Frizzell- Farm Bureau
Jessica Brandow- Brandow Law
Nate Hicks- Painted Arrow Outdoors
Caleb Grummet- Grit Strength Systems
Tristan & Jackson Bredehoft- Café Rica
Pat Bush- Patman Droneography
Tina & Andrew Benkovsky- Mooville
Rob Harrison- PFG
WealthyHOMES #PodcastJourney #Gratitude #2023
Securities & Advisory Services offered through Harbour Investments, Inc. Member SIPC.
🏠✨ Navigating the Mortgage Rollercoaster? Buckle up for some tips on taming those volatile interest rates! 🎢💰 On the latest episode-"Home Sweet Loan," Kyle and I spill the beans on steps smart homebuyers take to stay on top in the ever-changing mortgage market.
📈 Discover the secrets to riding the waves of interest rate fluctuations with finesse. From timing your purchase to exploring mortgage options, we've got your back! 🔄💡
But wait, there's more! 🚀 We're taking a deep dive into PERSONAL finances—unveiling the red flags and green flags in how people manage their money. 🚩🟢 Join us for a candid conversation on what sets you up for financial success or signals potential challenges.
Tune in now on the Wealthy HOMES Podcast for insights, laughs, and a roadmap to the mortgage industry! 🎙️🔑
Kyle's Instagram: https://www.instagram.com/kylemcgann_lo/
Kyle's Website: https://kylemcgann.supremelendinglo.com/
Kyle's LinkedIn: https://www.linkedin.com/in/kyle-mcgann-495762198/
HomeSweetLoan #FinancialWisdom #MortgageMastery #WealthyHOMESPodcast
Securities & Advisory Services offered through Harbour Investments, Inc. Member SIPC.
🎙️ Episode 44: Navigating Financial Crossroads with Connor, Pat, and Rob
Welcome back, Wealthy HOMES family! In this enlightening episode, Connor, Pat, and Rob dive into five thought-provoking questions submitted by our engaged audience. From the intricacies of Social Security and car loan dilemmas to navigating the landscape of cryptocurrency and seeking wisdom from biblical perspectives on investing, our hosts tackle a range of topics with their trademark expertise and candid insights.
Key Questions Discussed:
When to Take Social Security? - In the financial journey, timing is everything. Our hosts unravel the complexities of Social Security decisions, considering lifestyle goals, and the three-legged stool strategy for a secure retirement.
Car Loans: Pay Off or Keep? - A listener in their 40s seeks advice on paying off a car loan. Connor, Pat, and Rob share practical tips, emphasizing the importance of balancing debt management with maintaining a robust emergency fund.
Cracking the Code of 401(k) Investments - For our younger audience, the hosts explore optimal strategies for 401(k) investments. From contribution percentages to aggressive investment approaches, valuable advice is shared for those looking to grow their accounts efficiently.
Cryptocurrency: Boom or Bust? - The trio delves into the world of cryptocurrencies, shedding light on the risks and potential rewards. Listeners get a candid perspective on the role of blockchain technology and the importance of thorough research before venturing into this volatile market.
Investing Through a Biblical Lens - A unique question leads our hosts to discuss the biblical standpoint on investing. Drawing insights from biblical teachings, Connor, Pat, and Rob share thoughts on being good stewards of financial resources without letting wealth become an idol.
Join us for this engaging episode filled with practical advice, financial wisdom, and a touch of spirituality. Whether you're planning your retirement, considering investments, or seeking guidance on debt, Episode 44 has something for every Wealthy HOMES listener.
🔗 Connect with Us:
Have more questions? Submit them here-> https://linktr.ee/connor_bauserman
Follow us on social media for updates, financial tips, and behind-the-scenes content.
🎧 Listen Now and Level Up Your Financial Wisdom with the Wealthy HOMES Podcast!
Welcome back, Wealthy Homes Podcast family! It's your friendly financial guru, Connor Bauserman, coming to you from Preferred Financial Group. Before we dive into today's topic, don't forget to hit that subscribe button and show some love on our socials – whether it's Facebook, LinkedIn, or your favorite podcast platform. And hey, leave a review, it really helps us out!
Now, let's get into the nitty-gritty of investments. I know, I know, investment accounts can be a bit eye-roll-inducing, but trust me, this is essential stuff. We've got four types on the menu today, and understanding the differences is crucial – it's like deciding when to deal with taxes.
First up, we've got the OG, the traditional tax-deductible account. Think IRA, 401(k), the classics. You get a tax deduction upfront, let it grow tax-deferred, and pay the taxman when you cash out. Easy peasy, right?
Then there's the Roth option – pay the taxman today, watch it grow tax-deferred, and enjoy tax-free withdrawals in retirement. It's like investing in tax-free happiness for your future.
Next, we've got the tax-deferred accounts, the annuities. Like sipping a fine beer, you put in after-tax money, let it grow tax-deferred, and when you start sipping those gains, that's when you pay taxes. Cheers to financial planning!
Last but not least, the taxable account or brokerage account. Here, you're paying taxes as you go, like a responsible adult. Capital gains may come knocking, but hey, you're in control.
Choosing the right account is like picking your favorite flavor of ice cream – personal and depends on your taste. Roth for flexibility, traditional for the upfront tax break, annuities for strategic sipping, and taxable accounts for that on-the-go cash.
Remember, no matter the flavor, the key is to save, save, save. Check out episode 27 for the power of compound interest if you need a refresher.
Got burning questions? Hit us up on the typeform – it's anonymous, so spill those financial beans. Thanks for tuning in, Wealthy Homes crew! Until next time, stay financially fabulous! 🚀💰 #WealthyHomesPodcast #FinancialFreedomJourney
Q & A Link: https://65st8madhpz.typeform.com/to/NwRINN0w
Past performance is not a guarantee of future results. Securities & Advisory Services offered through Harbour Investments, Inc. Securities licensed in MI, FL, TN, CA, & WA. Member SIPC
In this episode of the Wealthy HOMES Podcast, Connor takes you on a journey through the tumultuous yet rewarding world of balancing work, family, and finances as a busy parent. Join him as he shares personal anecdotes, practical tips, and budgeting strategies to help you navigate the chaos and achieve financial wellness.
Segment 1: Juggling Act – Time, Energy, and Finances
Ever feel like you're trying to juggle flaming torches while riding a unicycle? Connor gets it, especially on those challenging Mondays. He explores the inevitability of hard days and provides insights to limit their impact.
Segment 2: Money Matters – Budgeting and Maximizing Household Income
Dive into effective budgeting strategies for families with hectic schedules. Connor suggests using apps like EveryDollar and shares his personal approach, including email folders for bills and designating a bill account. Discover ways to maximize household income without sacrificing family time and explore the hidden gems of tax deductions.
Budgeting Tips:
Use electronic budgets like EveryDollar.
Organize bills with email folders.
Create a dedicated bill account.
Explore auto-draft for a financial "auto-pilot."
Maximizing Income:
Avoid overspending for extra savings.
Uncover tax deductions, from child credits to HSA deductions.
Ensure correct tax withholding to avoid interest-free refunds.
Segment 3: Family Fuel – Meal Planning and Financial Health
Connor emphasizes the importance of planning meals for the week to save time, money, and mental energy. Discover how Nicole plans dinners, creates grocery orders, and leverages a crockpot for stress-free meal preparation. Learn how meal planning can decrease eating out expenses and contribute to your financial health.
Segment 4: Self-Care in the Chaos
Parents, it's time to prioritize your well-being. Connor shares practical self-care tips, from working out to engaging in healthy hobbies. Designate time for yourself with activities like girls' or guys' nights out, group meetups, and scheduled hobbies. Learn how these practices not only enhance your life but also make you a better parent.
Conclusion:
Connor summarizes the key takeaways, urging listeners to share their experiences on social media. Get ready for upcoming episodes, including a Q&A session – find the link in the show notes and social media bio. Thank you for tuning in, and remember, you've got this!
Q & A Link: https://65st8madhpz.typeform.com/to/NwRINN0w
Past performance is not a guarantee of future results. Securities & Advisory Services offered through Harbour Investments, Inc. Securities licensed in MI, FL, TN, CA, & WA. Member SIPC
Unlocking Financial Secrets: The Bull and Bear Odyssey 🎙️📈
Dive deep into the financial jungle with the latest episode of the Wealthy HOMES Podcast! 🏡 In this riveting installment, your guide, Connor, takes you on a journey through the captivating history and dynamics of bull and bear markets.
🐂📉 Discover the Untold Origins: Uncover the intriguing stories behind why it's a 'bull' and what bears were up to during fur trading. It's a saga that combines finance, history, and a dash of animal kingdom drama!
📊 Decoding the Historical Dance: Journey through time as we unravel the historical dance of bull and bear markets. How long do these financial seasons typically last? What are the three captivating parts of a bull market? All your burning questions answered!
💡 Insights for Today's Investor: Get a pulse on the current financial landscape. Where do we stand, and how can you navigate the markets effectively? Connor shares practical tips and strategies to thrive in both bull and bear markets.
Tune in now and join the conversation! 🎧💬 Don't miss out on the financial wisdom that can transform your wealth journey. Subscribe, share, and embark on the Bull and Bear Odyssey with us! 🚀💰 #WealthyHOMES #BullBearOdyssey #FinancialWisdom 🏡🐂📈
Link to ask Connor a question: https://65st8madhpz.typeform.com/to/NwRINN0w
🚗 Are you on track for the ultimate retirement road trip? 🌐
A retirement plan can look a lot like a GPS. Let me draw you the analogy.
🗺️ Retirement Age:
It's like setting your destination on a GPS. When do you want to arrive, and how much time until then? The clock is ticking – 35, 20, 10, 5 years?
📊 Budget and Income:
Your cash flow statement is the blueprint. Are you utilizing all your income, or is there room for improvement? How well is your plan put together – pencil & paper or a high-tech Excel spreadsheet?
⛽ Current Retirement Savings:
Think of it like the gas in your tank. Where are you in your journey – ahead or behind schedule? Here are some mileage checks based on age:
30: 0.5x of salary saved
40: 1.5x to 2.5x salary saved
50: 3x to 6x salary saved
60: 5.5x to 11x salary saved
📈 Evaluate Investments:
Adjust your speed based on risk/reward and expected returns. What's your financial speed limit, and is your risk tolerance aligned with that?
💼 Assess Retirement Accounts:
It's like assessing your ride – is it efficient? Are you in a sleek sports car, reliable hybrid family vehicle, or a slow-moving tank? Your retirement vehicle matters!
💰 Calculate Your Retirement Number:
This isn't just getting to your destination; it's planning to get you home. Let's ensure you have enough gas for the whole journey! The goal is to have enough retirement savings to live off the interest.
🤝 Professional Guidance:
Like having a co-pilot, a financial planner (that's me!) can guide you through the twists and turns. Consider this a pit stop for a no-cost retirement plan.
Remember, it's not just about reaching your destination; it's about enjoying the entire ride. Let's make your retirement journey smooth and memorable! 🛣️
✨ #FinanciallyOnTrack #FinancialGPS #WealthyHOMES #Ep40
Past performance is not a guarantee of future results. Securities & Advisory Services offered through Harbour Investments, Inc. Securities licensed in MI, FL, TN, CA, NY & WA. Member SIPC
In this episode of the Wealthy HOMES Podcast, join Connor as he delves into the intriguing world of the "You Only Live Once (YOLO)" mentality and its profound impact on the financial lives of millennials. Over the course of the show, we'll explore three crucial steps where this mindset might be steering us off course.
Step 1: Drowning in Debt and Staying Afloat
Discover how YOLO can lead to accumulating debt without a clear plan to get out. Connor discusses the importance of managing debt and finding a way out of the debt cycle, offering practical tips to conquer this challenge.
Step 2: Missing the Investment Express
YOLO often pushes us to prioritize immediate pleasures over long-term investments. Join us as we explore the power of early investments, the magic of compound interest, and real-life success stories that emphasize the importance of starting young.
Step 3: The Elusive Dream of Homeownership
Homeownership may seem like a massive commitment, but delaying the process can have significant consequences. Learn about the financial advantages of owning a home, building equity, and practical advice on how to start your journey to homeownership.
Don't miss this insightful discussion about the YOLO mindset and how it shapes millennials' financial choices. Connor keeps it real, engaging, and relatable, providing valuable insights to help you balance living in the moment with securing your financial future. Tune in now and make every episode of the Wealthy HOMES Podcast count!
Connor Bauserman, ChFC® | Facebook | Linktree
Past performance is not a guarantee of future results. Securities & Advisory Services offered through Harbour Investments, Inc. Securities licensed in MI, FL, TN, CA, & WA. Member SIPC
When it comes to fantasy football and building an investment portfolio, you may not think they have much in common. But, in reality they have a lot more in common than you think! 🏈💰
Just like you draft a diverse team in fantasy football with QBs, RBs, WRs, and more, diversifying your investments is key. Spread your risk across different investment asset types and companies just like you diversify your players.
And don't forget the importance of screening your picks. In fantasy, you check players' records, right? Well, in the financial game, look at investment performance, manager track records, and overall cost.
But the game isn't over after the draft. Just as you snag free agents and rookies in fantasy, keep an eye on the investment market. There are opportunities everywhere, from emerging markets to new fund managers to in favor sectors.
So, whether you're drafting your fantasy football dream team or crafting your investment portfolio, it's all about strategy and making the right moves. Play smart, both on the field and in your finances! 🚀🏆💸
Investing #FantasyFootball #MoneyMoves #WealthyHOMES
Past performance is not a guarantee of future results. Securities & Advisory Services offered through Harbour Investments, Inc. Securities licensed in MI, FL, TN, CA, & WA. Member SIPC
🐄🍦 Get ready for a "MOO"-velous episode on the Wealthy HOMES Podcast! 🎙️
Andrew and Tina Benkovsky, from MOO-ville Creamery, join me on the show to share their family’s story🌟 No bull here, folks! 🐮
We'll be spilling the "moo"-stery beans 🥛 on how Mooville went from a small dairy farm to a beacon in their community with multiple dairy stores! 🏞️🏬
Hear about their humble beginnings, the "udderly" exciting moments, and the plans they have in store for the future. 🚀
Join us for a fun and "udderly" delightful episode that'll leave you craving ice cream 🍨 and thinking about your own entrepreneurial dreams! 🌠
MoovilleMagic #DairyDreams #SmallBusiness #Entrepreneurship #WealthyHOMES
Moo-ville Website: https://www.moo-ville.com/
Past performance is not a guarantee of future results. Securities & Advisory Services offered through Harbour Investments, Inc. Securities licensed in MI, FL, TN, CA, & WA. Member SIPC
At PFG, we have over 1,000 clients. Want to know the 5 characteristics of our most successful clients? They’re really quite simple!
🔑#1. Work Smart, Work Long
You don't need to be a workaholic, but working till 65? That's the golden ticket! Let your money grow and save on insurance costs. Consider part-time gigs later on. 💼
🔑 #2. Debt Is Your Ball & Chain
Debt is like a weight tied to your dreams. Key #2? Crush that debt! Less cash flow to repayments = more for YOU in retirement. 🚀
🔑 #3. Ride the Investment Rollercoaster 🎢
Invest through thick and thin. It's not about timing the market; it's about time in the market. Ride those market waves and let dollar cost averaging work its magic. 📈
🔑 #4. Avoid the Market Timing Trap ⏰
Let's face it, most of us aren't market wizards. Key #4: Stop trying to time the market. It often hurts more than it helps. 🎢
🔑# 5. Don't Inflate Your Lifestyle
Don't let lifestyle inflation creep up on you. 🏠 Bigger houses, fancier cars, extravagant dining—it's tempting as you climb the career ladder. But remember, a high retirement income to maintain that lifestyle isn't always sustainable. Building wealth is about choices, not just income. 💸
These golden keys aren't just for your parents' retirement; they're your ticket to financial freedom too! Start today, and you'll thank yourself later. 💪
Join me on the Wealthy HOMES Podcast for more financial wisdom to fuel your journey towards Wealth. 🎙️ Let's unlock that bright financial future together! 🌅✨
FinancialSuccess #RetirementGoals #YoungAdults #MoneyTips #WealthyHOMES 🎧
Past performance is not a guarantee of future results. Securities & Advisory Services offered through Harbour Investments, Inc. Securities licensed in MI, FL, TN, CA, & WA. Member SIPC
🚨 EMERGENCY FUND 101 🚨
Did you know that a whopping 51% of Americans have less than 3 months of savings (Bankrate)? 😱 That's like trying to navigate a financial minefield without a map! 🧭
Rule of thumb: Your emergency fund should be 3-6 months of EXPENSES, not income! 🧾 So, if pizza night is part of your budget (of course it is 🍕), that goes in there too!
💰 Now, where do you park this rainy day treasure? ☔️ Definitely not under your mattress - too lumpy! 😆
🏦 Opt for a high-yield savings account or a money market account. 💳They keep your funds secure and growing - like your own financial secret garden! 🌱💰
Your emergency fund is like your financial superhero cape – ready to swoop in when you need it most. 🦸♀️✨
Remember, financial superheroes are MADE, not born. 💪 Share your emergency fund tips below, and let's build a financially resilient Michigan, one slice of pizza at a time! 🍕🏠💰
EmergencyFund101 #FinancialSuperhero #MichiganMoneyMagic #WealthyHOMES
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🎙️ Just dropped anchor and reeling in more than just fish! 🎣
There’s nothing like being out on the water, enjoying a relaxing evening of fishing. But guess what? I've got something to reel you in too – our latest podcast episode featuring the one and only Patman Droneography! 🚁📸, while we were literally on a boat and fishing 🌊. We had a blast chatting about capturing Michigan's beauty from above, navigating the drone biz, and what's on the horizon for Patman 📸✈️.
So, whether you're casting a line or just daydreaming about those open waters, plug in those earbuds and join us for an episode that's as refreshing as a lake breeze 🌬🍃. It's a reel treat, I promise! 🎣🎧
Patman Droneography Website: https://www.patmandroneography.com/
Patman Droneography Facebook Page: https://www.facebook.com/patmandroneography/?ref=embed_page
🚀 Ready for some halftime financial fireworks? 🎆
🎉🚀 It's Halftime in our epic mini-series on Entrepreneurship vs. Business Ownership Mini-Series, let's dive into a game-changer: Small Business Retirement Plans! 🌟
It's not just about the hustle; it's about securing your future too! 💼 Did you know that small biz retirement plans offer a goldmine of benefits? 💡 Let's dive into the playbook:
🔥Tax Benefits: 📊 Pay less to Uncle Sam and keep more for yourself! 💸
Your business gets a boost, and you enjoy sweet tax deductions. 🚀
🔐 Employee Retention: 💼 Happy employees = Happy business!
Attract and retain top talent with attractive retirement benefits. 🤝
💰 Save for Your Future: 🌅 Secure your golden years!
Plan for retirement while growing your biz. It's a win-win! 🏖️
🚀 Hello, Solo 401(k)!: 🌟 Quit your 9 to 5 and start your dream biz!
Some have used the Solo 401(k) to leap from salary life to entrepreneurship. 💪
Stay tuned for the second half of our mini-series, where we'll uncover more amazing stories on Entrepreneurship and Business Ownership! 📚
HalftimeHustle #EntrepreneurshipJourney #WealthyHOMESHalftime #SmallBizSuccess #RetireLikeABoss #FinancialGamePlan
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☕ Don't Miss Out! Our latest episode of the 5-part mini-series celebrating entrepreneurship and business ownership is brewing now! ☕🎙️
In this captivating pod, we sit down with Tristan and Jackson Bredehoft, the dynamic duo behind Cafe Rica, a coffee shop that's become a beacon of downtown Battle Creek, MI 🌟 From humble beginnings in online coffee sales to a thriving downtown storefront coffee haven, their journey is nothing short of inspiring!
Join us as we uncover the secrets behind their rise to success, from that first small cargo container to a bustling community hub ☕🏙️ Tristan and Jackson share the highs, lows, and everything in between in this engaging interview.
This episode is a testament to the power of ambition and determination. Tune in now to savor their story! 🎧👂 #EntrepreneurshipSpotlight #CafeRicaStory #CoffeeDreamsComeTrue
Cafe Rica Website: https://www.cafe-rica.com/
Cafe Rica Facebook Page: https://www.facebook.com/CafeRicaUSA
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Securities licensed in MI, FL, TN, CA, & WA.
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From Fighter to Entrepreneur: Caleb Grummet's Unstoppable Journey! 🥊
👊 Once a fighter, always a fighter! Join us on the latest episode 5-part Business Mini-series as we dive into the incredible journey of Caleb Grummet.
🎖️ From serving in the Marine Corps to stepping into the ring as a professional MMA fighter, Caleb's determination and grit have been unwavering. 🥋 But that's just the beginning!
📚 Balancing education while boxing professionally, Caleb's story is a testament to the power of perseverance. 📺 And let's not forget his epic matches, including fighting on HBO against former Baltimore Ravens safety, Tom Zbikowski, and fighting on the Floyd Mayweather undercard in Las Vegas! 🥊💥
💪 Today, he's not only a fighter but also the founder of Grit Strength Systems, a thriving gym and strength & conditioning program. Join us as we explore Caleb's evolution from warrior to entrepreneur, discussing the highs, the lows, and the incredible lessons he's learned along the way.
🔥 Don't miss this inspiring episode! Tune in now and discover how Caleb turned his fighting spirit into a thriving business that's all about strength, grit, and community. 🌟
InsideGritAndGlory #FighterToEntrepreneur #GritStrengthSystems #FromTheRingToBusiness
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🎬 Exciting News! Introducing our brand-new 5-part mini-series on entrepreneurship and business ownership 🚀📈 In this episode, we're thrilled to feature Nate Hicks, the co-founder of Painted Arrow Outdoors! 🎯
Join us as we dive into the incredible journey of Nate and Devin, the masterminds behind Painted Arrow 🏹🎥 Learn how they transformed their passion for hunting into a game-changing business! From humble beginnings to innovative breakthroughs, they've taken mobile hunting to a whole new level with their revolutionary "Mag-Pro" magnet bow mount– the ultimate tool to capture your hunt using your cell phone! 📱🦌.
Tune in to the podcast to hear about the challenges they faced, the lessons they've learned, and the amazing success they've achieved over the past year 🎙️📈 Don't miss out on this inspiring tale of dedication, innovation, and the power of entrepreneurship! 🔥
Listen now on all major podcast platforms and get ready to be motivated by their story! 🎧👂
Entrepreneurship #BusinessSuccess #InnovationUnleashed #PodcastEpisode #5PartMiniSeries
Link to Painted Arrow Website
Link to Painted Arrow Podcast
Link to Painted Arrow Facebook Page
Link to Painted Arrow Instagram
Link to Painted Arrow Outdoors Youtube Channel
Securities & Advisory Services offered through Harbour Investments, Inc. Securities licensed in MI, FL, TN, CA, & WA. Member SIPC
🎧 Elevate your wealth-building journey with the latest episode of the Wealthy HOMES podcast!
🌟 Uncover the profound impact of entrepreneurship and small business ownership. Did you know that 95% of companies and businesses in the U.S. are owned by individuals, and that on average self-employed individuals are wealthier than non-self employed?
In this episode I go over topics like:
✨ Flexibility: where being your own boss allows you to sculpt a life of balance and freedom. Not, a ball and chain…..
💼 Income Stream(s): Explore the realm of additional income streams and how these ventures can evolve into substantial replacements, securing your financial future.
🏆 Your Business is an Asset: discover the untapped potential of crafting a small business into a valuable asset – a legacy that can be passed on or sold for generations to come.
📢 SPECIAL ANNOUNCEMENT: Get ready for a captivating 5-part mini-series! 🎉 I will interview five diverse small businesses, each showcasing how their entrepreneurial journey led to wealth creation and newfound opportunities. Be inspired by their resilience, creativity, and ability to thrive in today's business landscape.
Don't miss out on this wealth of wisdom and inspiration. Tune in now and empower yourself to pave the way for financial success and fulfillment. Link in bio! 👆🔗 #WealthyHOMESPodcast #Entrepreneurship #SmallBizSuccess #MiniSeriesComingSoon
🛡️ Protecting Your Family: The Overlooked Necessity 🛡️
Life insurance – a topic often sidelined, yet incredibly important. Many of us are dangerously underinsured, leaving our loved ones vulnerable to financial hardships in what are probably the worst days of their lives. Did you know, your life insurance coverage should ideally be 10-20 times your income? Surprising, right? 📈
Here's the kicker: while your employer might cover 1-2 years of your salary, it falls far short of what your family truly needs. As parents, we'd move mountains for our kids and spouse, but somehow, we neglect this crucial financial safety net. 🌟
The "it won't happen to me" mentality is a common pitfall. But remember that life is unpredictable. Take the proactive step to ensure that your family's dreams and aspirations are never compromised!
🔑 Reason Behind Millennial Hesitation? Cost. 🤑
Guess what? Research shows millennials overestimate the cost of life insurance by a staggering $1,000! 💸 Life insurance doesn't have to break the bank. Term policies, especially for young parents, can offer comprehensive coverage for probably what you spent at Starbucks today. Yeah, I went there.
Let's take the step of protecting what truly matters. Life insurance isn't just a safety net; it's an act of love, preparedness, and responsibility. 💕 Don't wait until it's too late. Reach out today and let's chat about securing your family's financial future.
LifeInsurance #FamilyFirst #FinancialProtection #SecureYourFuture
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Securities licensed in MI, FL, TN, CA, & WA.
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📈🔐 Unlocking the Power of Compound Interest! 💡📈
Have you seen any of the 7 wonders of the world? What about the 8th? Let's explore the fascinating concept of compound interest, famously referred to as the "eighth wonder of the world" by Albert Einstein.
Yet, there's more to this story. Most don’t know the second half of the quote- "He who understands it, earns it… he who doesn't… pays it." These words remind us that compound interest can either work for us or against us, depending on our comprehension.
Think of compound interest like a snowball rolling downhill, gathering momentum and growing over time. Your investments not only earn on your initial amount but also on the accumulated interest, creating a powerful multiplying effect.
The key takeaway? Starting early can lead to remarkable results! The longer your money has to compound, the greater the potential gains. Whether you're beginning your financial journey or have been on the path for a while, remember that consistency is your ally.
Harness the power of compound interest and pave your way to financial success!
Want to learn more? Click the link to see all the best places to listen- https://linktr.ee/connor_bauserman.
CompoundInterest #FinancialGrowth #8thWonderOfTheEarth #StartEarly
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🎙️🏠 Let's be honest, the vast majority of handling your finances isn’t “fun.” Especially when you’re covering topics like taxes, insurance, and even estate planning. But, Jessica Brandow said “not on my watch.” Jessica is an estate planning attorney who came on the Wealthy HOMES podcast to breakdown wills, trusts, and everything you need to know to create a rock-solid estate plan for your young family.
💡💼 Jessica made the complex world of estate planning accessible and understandable, guiding us through the ins and outs with ease. From understanding wills to exploring the advantages of trusts, this interview was an eye-opener. 📜🔍
😮🗺️ But the most jaw-dropping moment came when we discussed Michigan law and where your assets could end up without an estate plan. Makes you scared to think that the state laws could dictate where your money goes and who cares for your kids. 😱💼 Trust me, it's a revelation you won't want to miss!
Whether you're starting a family or looking to secure your loved ones' future, Jessica's insights are a must-hear! 🎧🏰
Law Office of Jessica Brandow's Website: https://www.brandow-law.com/
Law Office of Jessica Brandow's Facebook: https://www.facebook.com/jessicabrandowlaw
WealthyHOMES #PodcastEpisode #EstatePlanningExpert #WillsAndTrusts #SecureYourFamily #MichiganLaw #FinancialInsights #KnowledgeIsPower
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Securities licensed in MI, FL, TN, CA, & WA.
Member SIPC
📣🎙We had an incredible interview with the one and only Kyle Frizzell, the rockstar agent who took his Kyle Frizzell Agency to the TOP in Michigan! 🚀
In this episode, we explored: 🏆 Kyle's Success Story: Learn how Kyle grew his agency to become the cream of the crop among all Farm Bureau agencies in Michigan. His journey will inspire you and show you that with determination and a passion for serving clients, you can achieve remarkable success!
🌾 Unique Niche Products: Discover the intriguing and specialized insurance products offered by Farm Bureau. Kyle unveils the hidden gems that can provide tailored coverage for specific needs, ensuring that you're protected no matter what life throws at you.
🏠 Real Estate Adventures: Hold on tight as we dive into Kyle's exciting real estate journey! He currently manages an impressive 10 rental units and is on a mission to reach a remarkable 100! We discussed the ups and downs of rental properties, how he got started, and the valuable lessons he learned along the way.
Get ready for laughs, valuable insights, and a whole lot of inspiration! Don't forget to subscribe for more episodes filled with professional knowledge, inspiring stories, and fantastic guests like Kyle Frizzell!
WealthyHOMES #PodcastEpisode #FarmBureau #SuccessStory #RealEstateInvesting
InsuranceCoverage #RentalProperties #ProfessionalAdvice
Kyle's Website: https://www.michfb.com/insurance/find-an-agent/kyle-frizzell-3333-s-pennsylvania-ave-ste-202
Kyle's Facebook: https://www.facebook.com/kylefrizzellagency
Kyle's LinkedIn: https://www.linkedin.com/in/kyle-frizzell-a56536106/
Securities & Advisory Services offered through Harbour Investments, Inc. Securities licensed in MI, FL, TN, CA, & WA. Member SIPC
💼 In the world of personal finance, budgets are the backbone of financial success! 💰📊
Did you know that individuals who explicitly set goals are 10x more likely to achieve them? 📈 That’s right, folks! Budgets aren’t just numbers on a spreadsheet; they are the secret sauce to unlocking your financial potential. 🗝️✨
Join me on the latest episode of “Budgets That Stick” as we jump into the captivating world of budgeting. 🎙️ Discover how creating a well-structured budget can provide the roadmap you need to achieve your financial dreams. 💪
From evaluating your financial situation to setting realistic goals and finding innovative ways to stick to your budget, I’ve got you covered! 💡💸 Lets equip you with practical tips, tricks, and insights that will revolutionize your approach to managing your money. 💼💰
Get ready to take control of your financial future and unlock the door to financial freedom. 🚪🔓 Tune in to “Budgets That Stick” and embark on an adventure that will transform your relationship with money forever! 🌟
BudgetsThatStick #FinancialSuccess #BudgetingTips #FinancialLiteracy #FinancialPlanning
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Securities licensed in MI, FL, TN, CA, & WA.
Member SIPC
📣 Attention, fellow parents! It's time for some money-smart kid Chronicles! 💰😄
👩👧👦 Raising money-smart kids can be a wild adventure! 🚀💸 Just yesterday, my little one asked where my credit card was at. Should I be worried or impressed? Maybe both!
🏦 Forget piggy banks, my child wants to open a full-scale "Bank of Mom and Dad" with personalized interest rates and a loan department! 💸💼 Now, we're learning about compound interest, and they're convinced their piggy bank will grow into a piggy mansion! 🐷🏰 Talk about ambition!
🙌 Who knew teaching kids about money could be this entertaining? 🎉
💡 Pro tip: Turn chores into mini-business ventures! My kids started a mini grocery store that earns money by giving back scratches. Somehow ended up with a marketing strategy rivaling Meijer! Still trying to figure out the currency🏆💼
🌟 Let's create a support group for parents who've been outsmarted by their own offspring! 😅💡 Share your tales of financial adventures in the comments below!
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Securities licensed in MI, FL, TN, CA, & WA.
Member SIPC
Join me for a captivating interview with Nate Baumann, from LVZ Investment Management. We delve into LVZ's impressive growth journey, shedding light on their remarkable journey to the top 10% of all RIA’s. 📈
Learn firsthand the collaborative synergy between an advisor and portfolio manager, as we uncover how Nate and I work together to give top-notch expertise and tailored investment strategies. 🤝
Curious about LVZ's portfolio offerings? LVZ's diverse portfolio offerings are designed to meet the unique goals and needs of investors. From conservative to aggressive, they've got you covered. 💼
And don't miss our discussion on the headwinds and tailwinds currently shaping the stock market. Gain valuable insights into the opportunities and challenges that LVZ Investment Management anticipates. 💨☀️
Tune in to hear about how we teamed up to give the client the ultimate experience. 🎧✨
LVZ Website: https://www.lvzadvisors.com/benefits/
Nate Baumann's LinkedIn: https://www.linkedin.com/in/natebaumann/
PodcastInterview #InvestmentManagement #LVZGrowth #TailwindsAndHeadwinds #FinancialInsights
Disclaimer: Nate Bauman has securities offered through Harbour Investments, Inc. Advisory Services offered through LVZ, Inc. (https://lvzfinancialplanning.com/disclosures/)
🎙️ Are you looking to maximize the value of your home and dive into the world of real estate investing? 🔑🏠
Our latest podcast episode is here to help you do just that! Join us as we chat with Esther & Ryan from The Leonard Group with EXP realty, specialists in maximizing home sales and running successful Airbnb’s.
In this episode, we delve into:
💰 Home Sale Strategies: Discover the investments that truly make a difference when selling your home. Esther and Ryan share their expertise on what upgrades yield the highest returns and what to avoid, ensuring you make smart choices to attract potential buyers and secure the best possible sale price.
🔑 Airbnb Adventures: Dive into the fascinating journey of Esther and Ryan as they share their experiences in the world of Airbnb investments. Learn how they turned their properties into successful vacation rentals and get insider tips on location selection, guest management, and staying ahead in this booming market.
💡 Proven Strategies for Success: Whether you're a homeowner looking to sell or an aspiring real estate investor, this episode is packed with practical advice and real-life experiences to guide you in making smart decisions and helping you achieve your financial goals.
Ready to unlock the secrets of home value maximization and Airbnb success? Listen to the episode now on Apple Podcast, Spotify, or https://wealthyhomes.podbean.com/ to access it directly. Remember to subscribe to the Wealthy HOMES podcast for more episodes to help you manage your finances and build wealth.
Ryan & Esther Facebook page: https://www.facebook.com/LeonardGroupeXpRealty
Ryan & Esther's Listing Page: https://theleonardgroup.exprealty.com/?fbclid=IwAR2A7YSoVW4mVcTjnGemKiyBBxqhZdBCifVZP1rq7hohlMv5ttITbkw8B_k
Ryan & Esther's Vacation Rental Facebook Page: https://www.facebook.com/coastalpeacedaytonabeach
Nobody likes receiving bills in the mail, but nothing would be worse than a letter from the IRS! Join us as we dive into an exclusive interview with Chris Micklatcher, a lawyer, CPA, and President of Fresh Start Tax Solutions, who shares invaluable insights on tax resolution for individuals and small businesses.
In this episode, we explore:
🔍 Who’s Chris Micklatcher: Learn about his background, qualifications, and the passion that drives him to help individuals and businesses navigate complex tax situations.
💼 Fresh Start Tax Solutions: Discover the breakdown of their business and how they assist clients in resolving tax issues with meticulous attention to detail and effective strategies.
⚖️ Navigating Taxes and Court Representation: Gain a deeper understanding of the intricacies involved in tax planning, compliance, and court representation, as Chris shares stories and experience battling the IRS.
Whether you're facing an IRS audit, struggling with tax debt, or seeking guidance on a tax return, this episode is packed with actionable insights and practical tips to help you find the best possible tax solutions.
🎧 Don't forget to subscribe for future episodes filled with expert advice on managing your finances and achieving financial success!
WealthyHOMES #PodcastEpisode #TaxResolution #LegalRepresentation #FreshStartTaxSolutions #FinancialAdvice #ExpertInsights
Fresh Start Tax Solutions Website: https://www.freshstarttaxsolutions.com/
📢 Invest in Your Future: Maximize Your 401(k) Potential! 💼💰
Did you know that your 401(k) is one of the most powerful tools for building wealth? Here's why you should make the most of it:
🌱 Start Early, Reap Rewards: The sooner you begin contributing to your 401(k), the longer your investments have to grow. Time is your best friend when it comes to harnessing the power of compounding interest. Start now and thank yourself later!
💡 Take Advantage of Tax Benefits: Your contributions to a traditional 401(k) are tax-deferred, meaning you can potentially lower your taxable income and save on taxes today. It's like getting a double win: saving for retirement and reducing your tax bill.
💪 Supercharge Your Savings with Employer Match: Many employers offer a matching contribution to your 401(k). That’s more money back in your pocket! Make sure you contribute enough to maximize this benefit—it's an opportunity you don't want to miss out on.
📈 Diversify, Diversify, Diversify: Don't put all your eggs in one basket. Choose a mix of investment options within your 401(k), such as stocks, bonds, mutual funds, index funds, and Target-Date Funds. Diversifying helps manage risk and enhances potential returns.
🔍 Review, Rebalance, Repeat: Regularly review your 401(k) investments to ensure they align with your goals and risk tolerance. Rebalancing your portfolio periodically helps maintain your desired asset allocation. Stay proactive and make adjustments as needed.
💼 Plan for Life's Changes: Job changes, promotions, and life events may impact your 401(k). Explore rollover options when switching employers and consider increasing contributions as your income grows. Adapt your strategy to help achieve your long-term goals.
Investing in your 401(k) is a powerful step towards financial freedom and a plentiful retirement. Start today, plan wisely, and watch your savings grow over time. Your future self will thank you! 🌟💪💸
InvestInYour401k #FinancialFreedom #RetirementPlanning
Are you tired of the burden of debt weighing you down? Ready to take charge of your financial future? This episode is a must-listen! 🎧
Join me as I explore proven strategies, practical tips, and powerful techniques to tackle debt head-on and pave your way to financial freedom. 💸✨
In this episode, we'll cover:
🔸 The snowball and avalanche methods: Two powerful approaches to paying off debt strategically.
🔸 Debt consolidation options: Streamlining your debt management and finding the best solution for your situation.
🔸 Tips for reducing debt faster: Practical steps to increase your debt repayments and accelerate your progress.
🔸 Building momentum and celebrating milestones: Staying motivated on your debt-crushing journey.
Don't miss this opportunity to gain insights and actionable advice on how to take control of your finances and achieve a debt-free life! 🌟
📌 Tune in to the Wealthy HOMES podcast on Spotify, Apple Podcasts, or your favorite podcast platform. Let's crush debt, achieve financial freedom, and create a brighter future together! 💥💼
CrushingDebt #FinancialFreedom #DebtManagement #WealthyHOMES #PodcastEpisode #FinancialWellbeing #DebtFreeLife #TakeChargeOfFinances
In this episode, I delve into the incredible impact of giving and explore the profound happiness it brings. But what makes this episode truly special is the personal story I'll be sharing about my son's journey through open-heart surgery. ❤️🩹
Through his story, I uncover the incredible resilience and strength that can emerge from adversity, inspiring us to extend a helping hand to others facing mountains that seem impossible to climb. Our son's journey reminds us of the power of compassion and the immense impact we can have when we rally together.
Join me as we explore the psychology behind giving, the benefits of generosity on our well-being, and practical strategies to incorporate giving into our lives. Together, we can create a ripple effect of kindness and make a real difference in the world.
🎧 Listen to the podcast on Spotify, Apple Podcasts, or your favorite podcast platform, and be ready to be inspired and uplifted. Let's explore the incredible power of giving and how it can transform lives, including our own. 🌟
HeartOfGiving #Generosity #Resilience #PodcastEpisode #Inspiration #MakeADifference #GivingBack #TogetherWeCan #OpenHeartSurgery #TransformingLives
Are you a parent or guardian concerned about the rising cost of higher education? 📚🎓 We've got you covered! The latest episode of the Wealthy HOMES Podcast dives into the crucial topic of saving for college. 💰✏️
Join me as I discuss the importance of early planning and how saving for college can open doors of opportunity for your child's future. Here's a sneak peek of what you'll learn:
🎯 The rising cost of college tuition and the impact on your family's finances.
💡 Proven strategies to start saving early and maximize your college fund.
📚 Exploring various savings options, such as 529 plans and other investment vehicles.
✅ Actionable steps to set realistic savings goals and stay on track.
Investing in your child's education is one of the greatest gifts you can give them. Don't miss out on this insightful episode that will empower you with the knowledge and tools to navigate the college savings journey.
Saving money is not just about having a high income, it's also about developing the right mindset and discipline to pay yourself first. Instead of spending all of your money on things that you don't really need, set aside a portion of your income for savings. This could be as little as 10% of your income, or as much as you can afford.
By paying yourself first, you are making saving a priority in your budget. This means that you will have to make some sacrifices in order to save, such as cutting back on discretionary spending or finding ways to reduce your bills. But in the long run, the benefits of saving will far outweigh any short-term sacrifices you make.
It's important to remember that saving money is not just about putting money into a savings account. It's also about investing in your future and making smart financial decisions that will help you achieve your goals. This could mean investing in your education, starting a business, or building a diversified investment portfolio.
So if you want to become a successful saver, start by changing your mindset and making saving a priority in your life. With discipline and determination, you can achieve your financial goals and enjoy a more secure and fulfilling future.
Are you looking to gain more insight into the importance of financial advisors and when you should have one? Look no further than the latest episode of the Wealthy HOMES podcast! Tune in to discover why having a financial advisor is important and when it’s the right time to take the plunge. Get ready to learn more about financial planning and the value of having a professional in your corner.
WealthyHOMES #FinancialAdvisor #FinancialPlanning
How much you make is a touchy subject. You don’t go around your workplace asking
how much you make or how much you’re paid per hour. Or, ask how much your car
salesman is making on the car they're selling. The financial industry is different. We have to disclose fees, charges, expenses, revenue sharing, kickbacks, and even different ways we can be compensated. But, it hasn’t always been this way. Over the years, FINRA, SEC, and other regulating agencies have cracked down on the financial industry. Whether it's because of bad eggs in our industry or just because it’s overall better for the client.
In this episode of the mini series, I pull back the curtain on how financial advisors and life insurance agents are paid. Let's be real, it's a question everyone wants to know. I can’t tell you how many times I have been in a meeting and discussing different financial planning/investment strategies and they’re completely on board, but they say “this is what we want, but how do we pay you?” Listen to this episode to find out!
The financial planning industry can be confusing and often misunderstood. All “financial advisors” are different in how they work, the services they provide, and even how they are compensated. I decided to pull the curtain back and explain the ins and outs of what the day in the life of a financial advisor actually looks like.
To do this I put together a 3 part mini series. Over 3 episodes I will explain what we do, how we get compensated, and when it makes sense to have/hire an advisor. An inside look at the good, the bad, and the ugly of our industry.
Part 1 covers what a financial advisor does. I only cover the tips of the iceberg, but I broke down the main categories: Insurance, Taxes, Estate Planning, Investments, Retirement Planning, and how it all comes together in Financial Planning.
Your credit score can be a touchy subject. It doesn’t indicate if you’re wealthy, or if you have a high income. A credit score was developed by lenders to assess how risky someone is to lend money to. We all know someone that we wouldn’t lend money to. Whether they haven’t paid you back or you have seen how badly they handle money. Your credit score tells your financial story, or what I like to call your financial résumé. A great credit score doesn’t mean you’re wealthy or even on track to be wealthy, but having a good score can help you get there!
In this week's episode of the Wealthy HOMES podcast, we are joined by Marie Davis from Consumers Professional Credit Union. Marie helps me talk about your credit score, how it’s calculated, what it affects, how to build it, and ways to check your score and credit report.
Get your score here-> https://www.annualcreditreport.com/index.action
Be sure to follow CPCU!
Website: https://www.cpcu.co/
Facebook: https://www.facebook.com/CPCU1
Twitter: https://twitter.com/cpcu1
Youtube: https://www.youtube.com/user/CPCUcreditunion
“Estate Planning” is often associated with people who are older in age and people who have significant wealth. But, in reality it should be something on everyone’s radar, especially young families. Sandy Derby, from Preferred Financial Group, joins us in this episode to talk about estate planning and the order you should take when it comes to your estate plan. Where do you start? Start with these 7-Steps!
- Establish a medical ID
- Every smartphone has the ability to link a medical contact in your phone. This could be your spouse or any loved ones that you want to be notified if something happened to you.
- You can also add medical info like: Diabetic, organ donor, blood type, or any medications you’re on.
- Write down your password(s)
- Physically write down your password to your phone and/or your computer. Place this in your safety deposit box, safe, or fireproof box at home.
- This allows your spouse, parents, or kids access to your immediate bills and documents
- Name your beneficiaries
- Retirement accounts (IRA’s, 401k, etc), bank accounts, life insurance, your home, and any accounts with a beneficiary option should have someone listed.
- Primary: Your first choice of who you would want the asset to go to.
- Contingent: Your second choice if your primary predeceases you. Often kids, parents,future guardians of your kids, or a trust.
- These all avoid probate!
- Retirement accounts (IRA’s, 401k, etc), bank accounts, life insurance, your home, and any accounts with a beneficiary option should have someone listed.
- Medical documents
- HIPAA medical form
- Allows someone to discuss your medical situation with them.
- Medical Power of Attorney
- Gives someone authority to help in your medical treatment
- Medical Directive
- Gives guidance on the type of medical care you want. Mainly when to pull the plug…
- The person who is your medical power of attorney doesn’t have to the same person named in your medical directive
- HIPAA medical form
- Durable Power of Attorney
- Allows someone to act as yourself when it comes to your finances
- This is the most powerful financial document!
- Springing Power of Attorney
- Allows someone to act on your behalf once a “trigger” has happened.
- Allows someone to act as yourself when it comes to your finances
- Will
- A document to the probate court stating who gets your valuable possessions that aren’t named with a beneficiary. Think about furniture, animals, firearms, collectibles, and who you want as a guardian to raise your children.
- Trust
- A document used to bypass probate court that is “funded” by your financial assets. You can specify who gets certain assets, when they will receive them, and how they will receive the assets.
If something happened to you today, would your family be okay? If not, we need to talk. We can develop a plan and coordinate with an estate planning attorney if it makes sense for your situation.
Michigan Power of Attorney Forms:
https://powerofattorney.com/michigan/
Medical Directive:
https://www.caringinfo.org/planning/advance-directives/by-state/michigan/
Michigan HIPPA Release Form:
https://www.michigan.gov/mdhhs/doing-business/providers/hipaa/authorization-to-disclose-protected-health-information
Have questions? Give us a call at 269-978-6000.
One of the greatest investors of all time has a great quote: “When the tide goes out, you find out who is swimming naked”-Warren Buffet. Well the tide has gone out and Silicon Valley Bank and some others are now naked. The question that a lot of people are wondering is: what happened and is my bank next?
To fully understand what happened to SVB, you need to understand diversification, interest rate risk, accounting, and FDIC insurance. These all created the perfect storm which ended up being the downfall of SVB.
Ever heard the term "Don't put your eggs in one basket?" Of course you have, who hasn't. But, SVB didn't get the memo. The majority of the SVB holders were tech companies, tech startups, or venture capitalists. This created the first major issue.
It's no surprise that inflation has been an issue and will likely continue to be an issue. The Fed has tried to step in to fight inflation. Not like any fight, but a Mike Tyson vs Marvis Frazier type fight. The Fed has come in swinging and swinging hard. The fastest rate hikes we have seen in history. This created the 2nd major issue.
Before and during Covid these tech companies were flush with cash. Who do they turn to? The bank closest to them (SVB). The bank does what they normally do when they get deposits, and buys U.S. treasuries (at record low interest rates). Fast forward to 2022-23 and these tech companies get hit the hardest in this economic downturn. So, they go to the bank to make big withdrawals.
SVB now has to sell their treasuries to raise cash for their clients. Insert the 2nd major issue. Interest rates and bond prices work in an inverse relationship. When interest rates increase, the bond price goes down. SVB now has to sell these bonds at a lower price, which causes a loss.
Now SVB depositors run into the biggest issue. Their deposits are over the FDIC limit. And that is how you get the perfect storm. Or, as Warren Buffet would say “they were caught swimming naked.”
Links to FDIC and NCUA Coverage Calculators:
\https://edie.fdic.gov/calculator.html
https://mycreditunion.gov/insurance-estimator
Financial advisors are often looked at as the “Quarterback” of someone's financial life. We help create a game plan and then help our clients execute their plan to achieve their goals, whether that’s from a financial perspective, or their life goals. Our job as a quarterback can sometimes be as easy as “passing” a client to a CPA to help them with their complex tax situation, or “handing” them off to an estate planning attorney to create a will or trust for them. But, not often do financial advisors work with real estate agents.
I want to change that! So, I brought Gavin Homer from the Homer Group (EXP Realty) onto the Wealthy HOMES Podcast. Be a fly on the wall while Gavin and I talk about real estate, and how the Homer Group are specializing in new home builds.
Have you wondered what the process is like to build a home?
How much would a new home be to build?
How do you get financing to build?
Where are some good spots to build in Southwest Michigan?
These are all answered in this podcast: https://wealthyhomes.podbean.com/
Interested in contacting Gavin? Check out his contact below!
https://linktr.ee/GavinHomer
One of the most common questions I get as an advisor is “What retirement account(s) should I contribute to?”
Walking into a candy store as a kid with a couple dollars was overwhelming. So many options from candy bars to suckers, to gummy candy, to the candy only our parents ate, and even the gumbo jawbreaker. You know nobody made it to the center of those things! Candy can sound so simple, but it can mean something different for each person. Retirement accounts can be the same way. Some retirement accounts can sound the exact same but can be different based on the type of work your company is in. Very similar to flavors of candy, although they may look just like the other candy in the bag.
Most people have a workplace retirement plan and either have IRA’s or have heard they need them. In this episode, I go over the history of how people used to contribute to retirement, and also the progression of what accounts you should be contributing to.
- Do you have a workplace retirement plan?
- If so, do you have a match?
- Do you have a Roth option through your plan?
- Have you thought about a Roth IRA?
- Or, is your income too high and need a different option?
- Do you plan to retire before normal retirement age?
These are all questions that I answer in this episode! As always, if you have any questions about this episode, please don’t hesitate to reach out.
Does understanding retirement make your head spin just from saying “Roth IRA?” Retirement and investments can sometimes be about as clear as mud. That is where we come in!
In this episode of the Wealthy HOMES podcast, Pat and James join us to talk about investments and retirement. We break down the differences of IRA’s, having a workplace retirement plan, and the different investments you will likely see inside of them.
You can mainly find James at Marshall Community Credit Union, and Pat not only at MCCU, but also in our offices in Battle Creek and Portage. With over 50 years of experience on this podcast, you are in for an awesome episode!Have questions about what we covered in this episode? Reach out to MCCU and ask for James or Pat, or call our main office at 269-978-6000.
Check out MCCU's website below!
https://www.marshallcommunitycu.com/services/financial-planning.html
Investment and Advisory Services offered through Harbour Investments, Inc. Member SIPC.
What are odds that you have a podcast about financial planning and get to have your best friend on the show? Or even better yet, he works in financial services and provides a ton of value for the listeners of the Wealthy HOMES podcast.
You can say we are lucky to have Kyle McGann from Supreme Lending on the show! We dive deep into mortgages and what you should do prior to getting a mortgage, the types of mortgages for beginners, mistakes to avoid when getting a mortgage, and then cap off the episode with Kyle’s experience investing in a rental property.
Interested in talking with Kyle or asking him a question? Contact Kyle at 269-425-0559, or by email at kyle.mcgann@supremelending.com. NMLS# 2403698
Want to ask Connor a question, or give him an idea for a podcast? Send him a email at CBauserman@hirep.net or visit https://www.preferredfinancialgrouppfg.com/podcast and send him a message at the bottom of the page.
In this week’s episode we welcome Ryan Underhill to the show. Ryan's a Farmers Insurance Agent from Marshall, Michigan. I have known Ryan for a couple years now and when I was putting this podcast together I knew Ryan would be great to have on. Not only is he an insurance business owner, but he also prioritizes his family and community. In this week’s episode I ask him some insurance questions that a lot of young families are wondering. I ask him questions like:
- What makes Farmers insurance unique from other insurance companies?
- What’s the difference between captive and independent agent?
- What is the Michigan no-fault rules?
- What are the biggest mistakes that young families make when purchasing personal insurance on their car or home?
- When should you remove full comprehensive coverage on your car and go to PLPD?
- Why you should do yearly or every other year reviews with your agent.
We end the show with some news on the new factory coming to Marshall, Michigan. Ryan has seen and helped in the process as a member of the Marshall City Council.
Have questions for Ryan, or interested in a quote? Give him a call at 269-727-0660, visit his website https://agents.farmers.com/mi/marshall/ryan-underhill, or message him on social media (Underhill Agency).
Welcome Back! This week we take a deep dive into your bank accounts. Don't worry! I won't look at the numbers. The goal of this episode is to help you structure your bank accounts to not only be successful in your finances, but also in your marriage. Financial issues is the 2nd leading cause of a divorce, behind infidelity. What if we could change that?
The goal in your marriage should be to be on the "same team." Both of you should be working together to achieve your goals. Financially and emotionally. I go into the two main ways you can structure your accounts and the pros and cons of both. Regardless of what option you choose, you need a "Bills Account." This is an account that all your main bills that you pay month-to-month come out of. This allows you to pay yourself and your debts first. Rather than waiting for them to come in and hoping you have the money to pay for them. Which is the majority of America.
Have questions about this episode? Send Connor an email at CBauserman@hirep.net or go to preferredfinancialgrouppfg.com and send him a message under the Podcast tab.
A great financial plan is built with a healthy foundation. In this episode, Connor goes over what he calls "The Circle Talk." The Circle Tallk is what Connor uses in his financial planning practice to explain what a healthy financial foundation looks like, and the steps to take to get there. We start with Bank/Savings and creating an emergency fund. After Bank/Savings he goes over insurance and the proper coverages that every young family should look into.
Get the backstory on why we created the Wealthy HOMES podcast. It's a financial planning podcast for young Michigan families. We cover everything from personal budgets, to investments, to insurance, and everything in between. Be a fly on the wall during conversations from not only an independent financial advisor, but other financial professionals from around Michigan. What's the goal? To give you relevant and actionable financial knowledge to better yourself and your family.
In this episode, Connor goes into detail on why he created the podcast and what you can expect from our future episodes.