The Money Knight: Recent Episodes

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📞✨ Get in touch with Chessman Wealth: https://www.chessmanwealth.com/

Dave Ramsey has built one of the most recognized brands in personal finance. Millions of people have followed his advice out of debt and into savings. But when it comes to how much you should pull from your retirement accounts each year, Ramsey takes a position that some financial professionals find hard to get behind. Today we're breaking it down: what he says, what the research says, and what your advisor actually thinks.

In this week’s Kingdom Minute, you’ll learn why biblical stewardship is not about pursuing wealth or glorifying poverty, but faithfully managing what God provides with wisdom, generosity, and contentment.

Here’s some of what we discuss in this episode:

📊 Average returns do not happen evenly each year

📉 Market losses can magnify withdrawal risks

💰 The 4% rule is only a starting point

⚖️ Your withdrawal rate should fit your plan

🧩 Social Security and pensions affect withdrawals

🙏 Biblical stewardship avoids financial extremes

Get in touch with Chessman Wealth: https://www.chessmanwealth.com/

The opinions voiced in The Money Knight podcast with Wade Chessman of Chessman Wealth Strategies are for general information only and are not intended to provide specific advice or recommendations for any individual. Past performance is no guarantee of future results. All indices are unmanaged and may not be invested into directly. Investing involves risk, including possible loss of principal. No strategy assures success or protects against loss. To determine what may be appropriate for you, consult with your attorney, accountant, financial or tax advisor prior to investing.

Investment advisory services offered through CWM, LLC, an Investment Advisor. Carson Partners, a division of CWM, LLC, is a nationwide partnership of advisors.

Generally, a donor advised fund is a separately identified fund or account that is maintained and operated by a section 501(c)(3) organization, which is called a sponsoring organization. Each account is composed of contributions made by individual donors. Once the donor makes the contribution, the organization has legal control over it. However, the donor, or the donor’s representative, retains advisory privileges with respect to the distribution of funds and the investment of assets in the account. Donors take a tax deduction for all contributions at the time they are made, even though the money may not be dispersed to a charity until much later.

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📞✨ Get in touch with Chessman Wealth: https://www.chessmanwealth.com/

Charitable giving is about generosity, but that doesn't mean you should miss out on valuable tax benefits. Wade shares the true story of a couple who lost a $665,000 charitable tax deduction because of one missing document, and why proper documentation matters just as much as good intentions.

In this week’s Kingdom Minute, Wade shares principles for borrowing wisely. He explains why debt should be approached with caution, encourages spouses to be united in financial decisions, reminds listeners to be patient before making major purchases, and highlights how avoiding unnecessary debt can preserve the financial freedom God intends for us.

Here’s some of what we discuss in this episode:

💸 True Story: A $665,000 tax mistake

📄 Documentation: One missing form mattered

💰 Charitable Giving: Common deduction mistakes

🎁 Donor-Advised Funds: Simplify your giving

✅ Tax Compliance: Details make the difference

Get in touch with Chessman Wealth: https://www.chessmanwealth.com/

The opinions voiced in The Money Knight podcast with Wade Chessman of Chessman Wealth Strategies are for general information only and are not intended to provide specific advice or recommendations for any individual. Past performance is no guarantee of future results. All indices are unmanaged and may not be invested into directly. Investing involves risk, including possible loss of principal. No strategy assures success or protects against loss. To determine what may be appropriate for you, consult with your attorney, accountant, financial or tax advisor prior to investing.

Investment advisory services offered through CWM, LLC, an Investment Advisor. Carson Partners, a division of CWM, LLC, is a nationwide partnership of advisors.

Generally, a donor advised fund is a separately identified fund or account that is maintained and operated by a section 501(c)(3) organization, which is called a sponsoring organization. Each account is composed of contributions made by individual donors. Once the donor makes the contribution, the organization has legal control over it. However, the donor, or the donor’s representative, retains advisory privileges with respect to the distribution of funds and the investment of assets in the account. Donors take a tax deduction for all contributions at the time they are made, even though the money may not be dispersed to a charity until much later.

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📞✨ Get in touch with Chessman Wealth: https://www.chessmanwealth.com/

Fraudsters are getting more sophisticated, but protecting yourself doesn't have to be complicated. Wade shares practical strategies to help build your own personal fraud defense system. Learn the warning signs of financial exploitation and the simple habits that can potentially reduce your risk.

Here’s some of what we discuss in this episode:

🔐 Financial Exploitation: Why it's increasing

⚠️ Scam Myths: It’s not always strangers

👀 Warning Signs: Red flags to watch out for

🛡️ Fraud Defense: How to build up your protections

📱 Security Habits: Simple daily safeguards you can start today

🤝 Trusted Team: Your strongest defense

Get in touch with Chessman Wealth: https://www.chessmanwealth.com/

The opinions voiced in The Money Knight podcast with Wade Chessman of Chessman Wealth Strategies are for general information only and are not intended to provide specific advice or recommendations for any individual. Past performance is no guarantee of future results. All indices are unmanaged and may not be invested into directly. Investing involves risk, including possible loss of principal. No strategy assures success or protects against loss. To determine what may be appropriate for you, consult with your attorney, accountant, financial or tax advisor prior to investing.

Investment advisory services offered through CWM, LLC, an Investment Advisor. Carson Partners, a division of CWM, LLC, is a nationwide partnership of advisors.

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📞✨ Get in touch with Chessman Wealth: https://www.chessmanwealth.com/

More than 50 million Americans currently don't have access to an employer-sponsored retirement plan like a 401(k), which means they're often missing out on valuable retirement savings opportunities. A new executive order from President Trump aims to address that gap by expanding access to retirement savings options for millions of workers. Wade breaks down what the order does, who it could help, and how the proposed retirement marketplace may work.

Here’s some of what we discuss in this episode:

🏛️ Executive Order: Expanding retirement access

💰 Saver Match: Government incentives to save

💼 Coverage Gap: Millions lack workplace plans

💻 New Marketplace: Comparing retirement options online

📋 Personal Responsibility: Access is only the first step

Get in touch with Chessman Wealth: https://www.chessmanwealth.com/

The opinions voiced in The Money Knight podcast with Wade Chessman of Chessman Wealth Strategies are for general information only and are not intended to provide specific advice or recommendations for any individual. Past performance is no guarantee of future results. All indices are unmanaged and may not be invested into directly. Investing involves risk, including possible loss of principal. No strategy assures success or protects against loss. To determine what may be appropriate for you, consult with your attorney, accountant, financial or tax advisor prior to investing.

Investment advisory services offered through CWM, LLC, an Investment Advisor. Carson Partners, a division of CWM, LLC, is a nationwide partnership of advisors.

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📞✨ Get in touch with Chessman Wealth: https://www.chessmanwealth.com/

Financial scams are becoming more sophisticated, more believable, and more expensive than ever before. With artificial intelligence, fake voices, spoofed phone numbers, and convincing emails, today's scammers have more tools than ever to target retirees and steal hard-earned savings. Wade breaks down some of the most common scams affecting retirees and provides practical ways to protect yourself.

For this week’s Kingdom Minute, Wade talks about how protecting yourself from scams is part of biblical stewardship. He cites passages from scripture to stress slowing down, avoiding get‑rich‑quick schemes, watching out for “wolves in sheep’s clothing,” and seeking wise counsel before making financial decisions.

Here’s some of what we discuss in this episode:

📈 Investment Fraud: Crypto schemes and fake returns

🏛️ Government Impersonators: IRS, Medicare, and Social Security scams

❤️ Romance Scams: Emotional manipulation and financial theft

💻 Tech Support Fraud: Fake alerts and computer access tricks

🛡️ Protection Strategies: Slowing down and verifying everything

Get in touch with Chessman Wealth: https://www.chessmanwealth.com/

The opinions voiced in The Money Knight podcast with Wade Chessman of Chessman Wealth Strategies are for general information only and are not intended to provide specific advice or recommendations for any individual. Past performance is no guarantee of future results. All indices are unmanaged and may not be invested into directly. Investing involves risk, including possible loss of principal. No strategy assures success or protects against loss. To determine what may be appropriate for you, consult with your attorney, accountant, financial or tax advisor prior to investing.

Investment advisory services offered through CWM, LLC, an Investment Advisor. Carson Partners, a division of CWM, LLC, is a nationwide partnership of advisors.

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📞✨ Get in touch with Chessman Wealth: https://www.chessmanwealth.com/

You’ve spent decades saving, investing, and managing your money responsibly. So why would you suddenly need a financial advisor right before retirement? In this episode, Wade tackles that exact question from a listener who’s done well investing on their own but is hesitant to “turn everything over” to an advisor.

In this week’s Kingdom Minute, Wade explores Jesus’ command to “render unto Caesar” and what it teaches us about stewardship, ownership, and where our ultimate trust belongs.

Here’s some of what we discuss in this episode:

💰 Why accumulating wealth and living off wealth require different skill sets

⚠️ The costly retirement mistakes that are harder to recover from

🧾 Tax planning, Social Security, Medicare & RMD complexities

🤝 Why working with an advisor doesn’t mean losing control

🏌️ Wade’s golf analogy for how one bad financial decision can derail retirement

Get in touch with Chessman Wealth: https://www.chessmanwealth.com/

The opinions voiced in The Money Knight podcast with Wade Chessman of Chessman Wealth Strategies are for general information only and are not intended to provide specific advice or recommendations for any individual. Past performance is no guarantee of future results. All indices are unmanaged and may not be invested into directly. Investing involves risk, including possible loss of principal. No strategy assures success or protects against loss. To determine what may be appropriate for you, consult with your attorney, accountant, financial or tax advisor prior to investing.

Investment advisory services offered through CWM, LLC, an Investment Advisor. Carson Partners, a division of CWM, LLC, is a nationwide partnership of advisors.

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📞✨ Get in touch with Chessman Wealth: https://www.chessmanwealth.com/

At first glance, golf and financial planning don’t seem to have much in common, but look a little closer, and the parallels are hard to ignore. In this episode, Wade breaks down how certain concepts on the golf course translate directly into smarter financial decisions. It’s a fresh way to think about building a plan that actually works over time.

Here’s some of what we discuss in this episode:

⛳ Hole-in-One: Luck won’t drive long-term success

🎯 Stay Consistent: Methodical play wins over time

🧰 Right Tools Matter: Use diverse investment strategies

🧭 Trust Your Guide: Expert advice improves outcomes

🏌️ Pro Lessons: Stick with one clear strategy

🏁 Finish Strong: Stay focused on the long game

Get in touch with Chessman Wealth: https://www.chessmanwealth.com/

The opinions voiced in The Money Knight podcast with Wade Chessman of Chessman Wealth Strategies are for general information only and are not intended to provide specific advice or recommendations for any individual. Past performance is no guarantee of future results. All indices are unmanaged and may not be invested into directly. Investing involves risk, including possible loss of principal. No strategy assures success or protects against loss. To determine what may be appropriate for you, consult with your attorney, accountant, financial or tax advisor prior to investing.

Investment advisory services offered through CWM, LLC, an Investment Advisor. Carson Partners, a division of CWM, LLC, is a nationwide partnership of advisors.

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📞✨ Get in touch with Chessman Wealth: https://www.chessmanwealth.com/

Going from little to no retirement savings to a multi-million-dollar windfall sounds like a dream, but it comes with a whole new set of challenges. And one wrong move early on can have long-term consequences. Today, Wade walks through what to do after a major liquidity event, including how to handle taxes, define what “enough” really means, and avoid costly mistakes.

For this week’s Kingdom Minute, Wade shares how monks pursued economic sufficiency, not false security. This meant having just enough, rejecting the love of money, consuming less than they received, and using surplus for hospitality and generosity.

Here’s some of what we discuss in this episode:

💰 Lump Sum Reality: $3M isn’t $3M after taxes, understand your true net

🧾 Tax Planning First: Structure and timing can significantly impact what you keep

⏳ Don’t Rush Decisions: Park money safely and avoid emotional or impulsive moves

🎯 Define “Enough”: Your lifestyle, not the number, determines success

📊 Smart Risk Strategy: Diversification beats swinging for the fences

⚠️ Avoid Big Mistakes: Don’t chase deals, loans, or “opportunities” without a plan

Get in touch with Chessman Wealth: https://www.chessmanwealth.com/

The opinions voiced in The Money Knight podcast with Wade Chessman of Chessman Wealth Strategies are for general information only and are not intended to provide specific advice or recommendations for any individual. Past performance is no guarantee of future results. All indices are unmanaged and may not be invested into directly. Investing involves risk, including possible loss of principal. No strategy assures success or protects against loss. To determine what may be appropriate for you, consult with your attorney, accountant, financial or tax advisor prior to investing.

Investment advisory services offered through CWM, LLC, an Investment Advisor. Carson Partners, a division of CWM, LLC, is a nationwide partnership of advisors.

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📞✨ Get in touch with Chessman Wealth: https://www.chessmanwealth.com/

Nobody enjoys tax season, but retirement introduces a whole new set of rules, and many retirees don’t realize the impact until it’s too late. In this episode, Wade breaks down some of the most common tax mistakes new retirees make and explains why tax planning shouldn’t be treated as a once-a-year task, but as a strategy that works for the next decade and beyond.

Later in the episode, Wade answers listener questions, offering insights on common retirement challenges- like whether to keep heavily concentrated stock in a 401(k) and how to manage taxes on an inherited IRA.

Here’s some of what we discuss in this episode:

💣 RMD Time Bomb: Future withdrawals can create massive tax hits

🔁 Roth Strategy: Conversions must be timed and coordinated carefully

💸 Social Security Taxes: Benefits can be more taxable than expected

🧮 Short vs Long-Term: Tax prep isn’t the same as tax planning

‍❤️ Survivor Impact: Taxes often rise after one spouse passes

Read The 5 Biggest Tax Mistakes New Retirees Make in the First 5 Years

https://www.kiplinger.com/taxes/tax-planning/biggest-tax-mistakes-new-retirees-make-in-first-years

Get in touch with Chessman Wealth: https://www.chessmanwealth.com/

The opinions voiced in The Money Knight podcast with Wade Chessman of Chessman Wealth Strategies are for general information only and are not intended to provide specific advice or recommendations for any individual. Past performance is no guarantee of future results. All indices are unmanaged and may not be invested into directly. Investing involves risk, including possible loss of principal. No strategy assures success or protects against loss. To determine what may be appropriate for you, consult with your attorney, accountant, financial or tax advisor prior to investing.

Investment advisory services offered through CWM, LLC, an Investment Advisor. Carson Partners, a division of CWM, LLC, is a nationwide partnership of advisors.

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📞✨ Get in touch with Chessman Wealth: https://www.chessmanwealth.com/

There’s no shortage of financial advice out there and unfortunately, not all of it is good. Some of the most damaging retirement mistakes don’t come from reckless behavior. They come from myths that sound reasonable, get repeated often, and quietly work their way into your planning decisions. Wade breaks down some of the most common retirement myths and explains why believing them can quietly wreck your long-term strategy, and what to do instead.

For this week’s Kingdom Minute, Wade shares the story of Elisha and the widow from 2 Kings to illustrate how God often uses what we already have, however small, as the basis for His provision.

Here’s some of what we discuss in this episode:

📘 Bigger Plan Better?: Thick binders don’t equal clarity

📜 Just A Will?: Simple estates still need key documents

💔 Half Income Myth: Surviving spouse needs far more

🏦 Social Security Reliance: It’s a foundation, not full income

💵 Lower Taxes Assumption: Retirement brackets may surprise you

Get in touch with Chessman Wealth: https://www.chessmanwealth.com/

The opinions voiced in The Money Knight podcast with Wade Chessman of Chessman Wealth Strategies are for general information only and are not intended to provide specific advice or recommendations for any individual. Past performance is no guarantee of future results. All indices are unmanaged and may not be invested into directly. Investing involves risk, including possible loss of principal. No strategy assures success or protects against loss. To determine what may be appropriate for you, consult with your attorney, accountant, financial or tax advisor prior to investing.

Investment advisory services offered through CWM, LLC, an Investment Advisor. Carson Partners, a division of CWM, LLC, is a nationwide partnership of advisors.

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📞✨ Get in touch with Chessman Wealth: https://www.chessmanwealth.com/

New government-backed savings accounts for kids are coming, and on the surface, they sound like a win. The Trump Accounts promise $1,000 in free money for eligible newborns, long-term investing, and a potential financial head start. But once you look under the hood, important questions emerge. In this episode, Wade breaks down what we know so far, the pros and cons, and how these new accounts might fit — or not fit — into your family’s long-term strategy.

Here’s some of what we discuss in this episode:

💵 Free Money Window: $1,000 for eligible newborns

⚖️ Pros and Trade-Offs: Simple setup but tax implications

📊 Account Comparisons: 529s, Roths, and UTMAs

🏢 Private Sector Support: Employers and donors may contribute

Get in touch with Chessman Wealth: https://www.chessmanwealth.com/

The opinions voiced in The Money Knight podcast with Wade Chessman of Chessman Wealth Strategies are for general information only and are not intended to provide specific advice or recommendations for any individual. Past performance is no guarantee of future results. All indices are unmanaged and may not be invested into directly. Investing involves risk, including possible loss of principal. No strategy assures success or protects against loss. To determine what may be appropriate for you, consult with your attorney, accountant, financial or tax advisor prior to investing.

Investment advisory services offered through CWM, LLC, an Investment Advisor. Carson Partners, a division of CWM, LLC, is a nationwide partnership of advisors.

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📞✨ Get in touch with Chessman Wealth: https://www.chessmanwealth.com/

A new year often brings small changes that quietly add up. In this episode, Wade walks through what’s different in 2026 for retirees and those approaching retirement and why paying attention early matters. From income adjustments to planning opportunities, these shifts can affect cash flow, taxes, and long-term strategy.

For this week’s Kingdom Minute, we talk about how the Bible emphasizes daily faithfulness and trust in God over frantic New Year reinvention, reminding us that God’s mercies are new every morning.

Here’s some of what we discuss in this episode:

📈 Social Security Updates: How cost-of-living changes affect income

🏥 Medicare Costs: Why healthcare expenses continue to rise

🧾 Senior Tax Breaks: New deductions and planning considerations

⏳ Catch-Up Opportunities: Expanded ways to boost retirement savings

💳 Debt Decisions: How planning changes after debt is gone

Get in touch with Chessman Wealth: https://www.chessmanwealth.com/

The opinions voiced in The Money Knight podcast with Wade Chessman of Chessman Wealth Strategies are for general information only and are not intended to provide specific advice or recommendations for any individual. Past performance is no guarantee of future results. All indices are unmanaged and may not be invested into directly. Investing involves risk, including possible loss of principal. No strategy assures success or protects against loss. To determine what may be appropriate for you, consult with your attorney, accountant, financial or tax advisor prior to investing.

Investment advisory services offered through CWM, LLC, an Investment Advisor. Carson Partners, a division of CWM, LLC, is a nationwide partnership of advisors.

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📞✨ Get in touch with Chessman Wealth: https://www.chessmanwealth.com/

In this episode, Wade walks through what a structured, relationship-based planning experience actually looks like from start to finish. You’ll hear why good planning isn’t about quick recommendations, but about clarity, confidence, and follow-through. If you’ve ever wondered what working with us would be like, this conversation sets expectations.

Wade emphasizes that the Smart Choices process is ultimately about stewardship- helping clients make wise, intentional choices with the resources God has provided so they can worry less and enjoy life more.

Here’s some of what we discuss in this episode:

🔍 Discovery Meeting: Understanding goals, concerns, and priorities

🤝 Mutual Commitment: Deciding if the relationship makes sense

🛡️ Advanced Planning: Protecting, growing, and transferring wealth

📈 Progress Monitoring: Ongoing reviews and adjustments

📄 Preparation Tips: What to bring to the first meeting

Get in touch with Chessman Wealth: https://www.chessmanwealth.com/

The opinions voiced in The Money Knight podcast with Wade Chessman of Chessman Wealth Strategies are for general information only and are not intended to provide specific advice or recommendations for any individual. Past performance is no guarantee of future results. All indices are unmanaged and may not be invested into directly. Investing involves risk, including possible loss of principal. No strategy assures success or protects against loss. To determine what may be appropriate for you, consult with your attorney, accountant, financial or tax advisor prior to investing.

Investment advisory services offered through CWM, LLC, an Investment Advisor. Carson Partners, a division of CWM, LLC, is a nationwide partnership of advisors.

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📞✨ Get in touch with Chessman Wealth: https://www.chessmanwealth.com/

When does a Roth conversion actually improve a retirement plan? Roth conversions can be powerful, but only when they’re done with purpose. Wade highlights when conversions help, when they can backfire, and why guessing is one of the worst things you can do.

For this week’s Kingdom Minute, Wade reflects making financial decisions with wisdom, patience, and a long-term perspective. Rather than chasing short-term tax wins, the focus is on aligning money decisions with purpose, responsibility, and care for the future.

Here’s some of what we discuss in this episode:

🔄 Roth Strategy: How conversions support long-term planning

📊 Tax Bracket Factors: Income changes, timing, and opportunity years

🧠 Strategic Considerations: Coordinating Roth moves with your full plan

🧾 Side Effects Matter: Social Security, Medicare, and tax ripple effects

Get in touch with Chessman Wealth: https://www.chessmanwealth.com/

The opinions voiced in The Money Knight podcast with Wade Chessman of Chessman Wealth Strategies are for general information only and are not intended to provide specific advice or recommendations for any individual. Past performance is no guarantee of future results. All indices are unmanaged and may not be invested into directly. Investing involves risk, including possible loss of principal. No strategy assures success or protects against loss. To determine what may be appropriate for you, consult with your attorney, accountant, financial or tax advisor prior to investing.

Investment advisory services offered through CWM, LLC, an Investment Advisor. Carson Partners, a division of CWM, LLC, is a nationwide partnership of advisors.

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📞✨ Get in touch with Chessman Wealth: https://www.chessmanwealth.com/

Some people think generosity starts and ends with writing a check. But what if what you give matters just as much as how much you give? In this episode, Wade explains the difference between donating cash and donating assets, and why asset-based giving can create powerful tax advantages while increasing your impact.

For this week’s Kingdom Minute, Wade reflects on Charles Dickens' "A Christmas Carol," drawing parallels to biblical teachings about wealth and stewardship. He emphasizes that true riches come from honoring God with our resources, rather than accumulating possessions.

Here’s some of what we discuss in this episode:

💸 Cash vs. Assets: Rethinking how you give

📈 Tax Benefits: Turning tax dollars into giving dollars

🧾 Estate Planning: Charitable bequests done right

🤝 Advisor Role: The power of coordinating generosity with strategy

🎄 Kingdom Minute: A holiday reflection on stewardship

Get in touch with Chessman Wealth: https://www.chessmanwealth.com/

The opinions voiced in The Money Knight podcast with Wade Chessman of Chessman Wealth Strategies are for general information only and are not intended to provide specific advice or recommendations for any individual. Past performance is no guarantee of future results. All indices are unmanaged and may not be invested into directly. Investing involves risk, including possible loss of principal. No strategy assures success or protects against loss. To determine what may be appropriate for you, consult with your attorney, accountant, financial or tax advisor prior to investing.

Investment advisory services offered through CWM, LLC, an Investment Advisor. Carson Partners, a division of CWM, LLC, is a nationwide partnership of advisors.

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📞✨ Get in touch with Chessman Wealth: https://www.chessmanwealth.com/

You’ve heard the saying, “There’s no such thing as a bad question.” But in retirement planning… some questions are definitely better than others. The way you frame your question often determines the quality of your answer and, in some cases, the quality of your retirement. In this episode, Wade shows how small shifts in the way you frame your questions can completely transform your financial clarity, confidence, and long-term outcomes.

He shares practical examples, real client stories, and simple frameworks to help investors think beyond surface-level answers and toward a true, personalized financial plan. The episode finishes with a powerful Kingdom Minute about budgeting as biblical stewardship.

Here’s some of what we discuss in this episode:

💵 “How much do I need?” → “How much income do I need?”

📈 “Highest return?” → “Return that supports my plan.”

🧾 “Lower taxes now?” → “Lower taxes now and later.”

🕒 “62 or 70?” → “Best Social Security strategy for my plan.”

⚖️ “Avoid risk?” → “Take the right amount of risk.”

Get in touch with Chessman Wealth: https://www.chessmanwealth.com/

The opinions voiced in The Money Knight podcast with Wade Chessman of Chessman Wealth Strategies are for general information only and are not intended to provide specific advice or recommendations for any individual. Past performance is no guarantee of future results. All indices are unmanaged and may not be invested into directly. Investing involves risk, including possible loss of principal. No strategy assures success or protects against loss. To determine what may be appropriate for you, consult with your attorney, accountant, financial or tax advisor prior to investing.

Investment advisory services offered through CWM, LLC, an Investment Advisor. Carson Partners, a division of CWM, LLC, is a nationwide partnership of advisors.

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📞✨ Get in touch with Chessman Wealth: https://www.chessmanwealth.com/

Wade tackles the endless headlines about Social Security running out of money and explains why the fear around it often overshadows the facts. This conversation brings perspective to an issue people worry about far more than they need to, especially when planning for retirement. If you’ve ever wondered what’s true, what’s political noise, and what actually matters for your retirement plan, this episode will give you the clarity you’ve been looking for.

Here’s some of what we discuss in this episode:

❗ Social Security Myths: separating fear from reality

📜 The Real History: why predictions of collapse have been wrong for decades

💸 Government Spending Factors: what headlines leave out

⚙️ Possible Fixes Ahead: how adjustments, not collapse, are most likely

🧩 Personalized Planning: how to make smart claiming decisions for your situation

The Dallas Morning News Article:

https://www.dallasnews.com/timeless-in-texas/2025/09/21/ye-of-little-faith-little-green-spacemen-and-social-security/

Get in touch with Chessman Wealth: https://www.chessmanwealth.com/

The opinions voiced in The Money Knight podcast with Wade Chessman of Chessman Wealth Strategies are for general information only and are not intended to provide specific advice or recommendations for any individual. Past performance is no guarantee of future results. All indices are unmanaged and may not be invested into directly. Investing involves risk, including possible loss of principal. No strategy assures success or protects against loss. To determine what may be appropriate for you, consult with your attorney, accountant, financial or tax advisor prior to investing.

Investment advisory services offered through CWM, LLC, an Investment Advisor. Carson Partners, a division of CWM, LLC, is a nationwide partnership of advisors.

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📞✨ Get in touch with Chessman Wealth: https://www.chessmanwealth.com/

Meeting with a financial advisor for the first time can feel intimidating, but it doesn’t have to be. In this episode, Wade walks through exactly what to expect when you schedule time with Chessman Wealth Strategies. From the first phone call to the discovery meeting and beyond, Wade explains how his team helps clients clarify goals, uncover financial “blind spots,” and design a personalized Smart Choices Wealth Management plan.

For this week’s Kingdom Minute, we discuss timeless biblical wisdom for how parents should consider passing wealth to the next generation. Should every child get the same amount, or should they receive an inheritance according to their individual needs and circumstances? Tune in the find out!

Here’s some of what we discuss in this episode:

💬 Discovery Meeting: getting to know you, your goals, and what matters most

📈 Smart Choices Strategy: developing a personalized plan to guide your finances

📅 Easy Scheduling: how to book a meeting and start the process hassle-free

🎯 No Clear Goals? how Wade helps clients clarify what they really want

Get in touch with Chessman Wealth: https://www.chessmanwealth.com/

The opinions voiced in The Money Knight podcast with Wade Chessman of Chessman Wealth Strategies are for general information only and are not intended to provide specific advice or recommendations for any individual. Past performance is no guarantee of future results. All indices are unmanaged and may not be invested into directly. Investing involves risk, including possible loss of principal. No strategy assures success or protects against loss. To determine what may be appropriate for you, consult with your attorney, accountant, financial or tax advisor prior to investing.

Investment advisory services offered through CWM, LLC, an Investment Advisor. Carson Partners, a division of CWM, LLC, is a nationwide partnership of advisors.

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📞✨ Get in touch with Chessman Wealth: https://www.chessmanwealth.com/

Health care costs in retirement are climbing faster than ever, and the newest Fidelity estimate proves it. The average 65-year-old couple retiring today will need $172,500 to cover health care expenses, up dramatically from just a few years ago. In this episode, Wade breaks down what’s driving these rising costs, the biggest misconceptions about Medicare coverage, and how to plan ahead so these expenses don’t derail your retirement.

Here’s some of what we discuss in this episode:

💰 Rising Costs: Fidelity’s 2025 estimate shows retiree healthcare expenses climbing sharply

🧭 Plan Ahead: why healthcare planning is essential to a successful retirement strategy

🏥 Medicare Breakdown: understanding what’s covered, what’s not, and what it really costs

💳 HSA Benefits: how Health Savings Accounts create powerful long-term tax advantages

📈 Smart Strategies: practical ways to manage and reduce future healthcare costs

Fidelity Investments® Releases 2025 Retiree Health Care Cost Estimate:

https://newsroom.fidelity.com/pressreleases/fidelity-investments--releases-2025-retiree-health-care-cost-estimate--a-timely-reminder-for-all-gen/s/3c62e988-12e2-4dc8-afb4-f44b06c6d52e

Get in touch with Chessman Wealth: https://www.chessmanwealth.com/

The opinions voiced in The Money Knight podcast with Wade Chessman of Chessman Wealth Strategies are for general information only and are not intended to provide specific advice or recommendations for any individual. Past performance is no guarantee of future results. All indices are unmanaged and may not be invested into directly. Investing involves risk, including possible loss of principal. No strategy assures success or protects against loss. To determine what may be appropriate for you, consult with your attorney, accountant, financial or tax advisor prior to investing.

Investment advisory services offered through CWM, LLC, an Investment Advisor. Carson Partners, a division of CWM, LLC, is a nationwide partnership of advisors.

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📞✨ Get in touch with Chessman Wealth: https://www.chessmanwealth.com/

Think you’re ready for retirement? Let’s find out. Today, we’ll put you in the hot seat with a rapid-fire retirement quiz. Five questions. Multiple choice. Real-world consequences. Social Security timing, IRA limits, and RMD rules aren’t just trivia—they’re decisions that can make or break your financial future.

Along the way, Wade explains why so many people miss the mark, clears up common misconceptions, and shows how a simple rule of thumb like the 4% rule can backfire if you don’t have a customized plan. So grab a pen, keep score, and see how you measure up. If you don’t ace this quiz, don’t worry—you’ll walk away with clear action steps to boost your retirement readiness and confidence.

Here’s some of what we discuss in this episode:

🧠 Test your retirement knowledge with 5 key questions

🕰️ Why Social Security timing is critical

📈 IRA contribution limits for 2025 explained

📑 Which accounts require RMDs (and which don’t)

⚠️ The biggest risks retirees must prepare for

Get in touch with Chessman Wealth: https://www.chessmanwealth.com/

The opinions voiced in The Money Knight podcast with Wade Chessman of Chessman Wealth Strategies are for general information only and are not intended to provide specific advice or recommendations for any individual. Past performance is no guarantee of future results. All indices are unmanaged and may not be invested into directly. Investing involves risk, including possible loss of principal. No strategy assures success or protects against loss. To determine what may be appropriate for you, consult with your attorney, accountant, financial or tax advisor prior to investing.

Investment advisory services offered through CWM, LLC, an Investment Advisor. Carson Partners, a division of CWM, LLC, is a nationwide partnership of advisors.

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📞✨ Get in touch with Chessman Wealth: https://www.chessmanwealth.com/

Many retirees are caught off guard when they discover Medicare isn’t always truly “free.” If your income is too high, you could face a hidden surcharge called IRMAA (Income Related Monthly Adjustment Amount), that can potentially reduce your Social Security check by thousands each year. In this episode, Wade breaks down what IRMAA is, who it impacts, and how to plan ahead so it doesn’t derail your retirement income.

We’ll explain the income thresholds that trigger IRMAA, why widows often get hit harder, and the types of income that can push you into higher Medicare costs. He also shares strategies to help minimize the impact, from Roth conversions and QCDs to charitable giving techniques and tax diversification.

For this week’s Kingdom Minute, Wade reflects on Jesus’ words in Luke, warning us to “be on guard against all covetousness.” True security comes not from collecting more, but from aligning our money and choices with values that last. Instead of striving for more, we’re called to use what we have with wisdom and purpose, investing in things that truly last.

Here’s some of what we discuss in this episode:

🧾 IRMAA: a hidden Medicare surcharge based on income

💸 Who is most likely to be impacted by IRMAA penalties

🔄 Strategies to avoid paying extra premiums

🌱 Tax diversification may help minimize surprises

Get in touch with Chessman Wealth: https://www.chessmanwealth.com/

The opinions voiced in The Money Knight podcast with Wade Chessman of Chessman Wealth Strategies are for general information only and are not intended to provide specific advice or recommendations for any individual. Past performance is no guarantee of future results. All indices are unmanaged and may not be invested into directly. Investing involves risk, including possible loss of principal. No strategy assures success or protects against loss. To determine what may be appropriate for you, consult with your attorney, accountant, financial or tax advisor prior to investing.

Investment advisory services offered through CWM, LLC, an Investment Advisor. Carson Partners, a division of CWM, LLC, is a nationwide partnership of advisors.

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📞✨ Get in touch with Chessman Wealth: https://www.chessmanwealth.com/

Retirement can feel overwhelming when so much seems out of your control. Markets rise and fall, tax laws shift, and Social Security’s future makes the news every few months. But here’s the good news: stressing about those things won’t improve your retirement. What will help is focusing on the four key areas you can control. In this episode, Wade shares the levers that actually move the needle for retirees and pre-retirees.

Wade explains how to avoid emotional decisions that could derail your plan and covers everything from managing your market risk exposure to building reliable income streams. He also dives into proactive tax planning—why it’s written in pencil, not pen—and how to think about Social Security realistically without leaning on it as your primary income source. You can’t stop volatility or predict what Congress will do next, but you can put yourself in a stronger position with the choices you make today.

Here’s some of what we discuss in this episode:

📉 Control how much market risk you take on

🕰️ Plan for longevity, because no one knows how long they’ll live

💵 Use tax planning to your advantage (not just tax prep)

🧭 Social Security’s true purpose: safety net, not primary retirement income

🗝️ The power of planning gives you control where it matters most

Get in touch with Chessman Wealth: https://www.chessmanwealth.com/

The opinions voiced in The Money Knight podcast with Wade Chessman of Chessman Wealth Strategies are for general information only and are not intended to provide specific advice or recommendations for any individual. Past performance is no guarantee of future results. All indices are unmanaged and may not be invested into directly. Investing involves risk, including possible loss of principal. No strategy assures success or protects against loss. To determine what may be appropriate for you, consult with your attorney, accountant, financial or tax advisor prior to investing.

Investment advisory services offered through CWM, LLC, an Investment Advisor. Carson Partners, a division of CWM, LLC, is a nationwide partnership of advisors.

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📞✨ Get in touch with Chessman Wealth: https://www.chessmanwealth.com/

On a recent hiking trip, Wade noticed how Moses, his Cavapoo, darted after every squirrel, bird, and chipmunk along the trail. It was funny to watch, but it also reminded him of how investors behave when chasing the latest “hot” trend. Many of us have been tempted by tech stocks, crypto, and gold, only to jump in at the wrong time and drain our savings and sanity in the process. In this episode, Wade draws parallels between Moses’ squirrel-chasing and investor habits, contrasting that with the calm, steady retrievers who stick to the path.

He shares why defining your goals, staying leashed to your plan, and ignoring distractions are keys to lasting success. Plus, Wade reflects on timeless biblical wisdom about patience, diligence, and building wealth little by little. If you’ve ever been tempted by the “next big thing,” this conversation is a reminder that financial freedom isn’t about chasing squirrels; it’s about staying on the trail. Tune in to learn how to keep your plan and your future steady.

For this week’s Kingdom Minute, we’re reminded how chasing quick wins- whether it’s money, success, or the next “shiny thing”- often leaves us worn out and empty-handed. God’s Word calls us instead to steady, faithful stewardship, where wealth and wisdom are built little by little. True growth comes through patience, discipline, and walking faithfully with His plan.

Here’s some of what we discuss in this episode:

🥾 Picking your trail: define goals before the journey

🐕 DOG acronym: dangers, obstacles, and gaps on the path

💡 Harness lessons: freedom within guidelines builds discipline

🌲 Enjoying the hike: wealth is about the journey, not just the destination

📖 Proverbs & Galatians: “little by little” growth is God’s way

Get in touch with Chessman Wealth: https://www.chessmanwealth.com/

The opinions voiced in The Money Knight podcast with Wade Chessman of Chessman Wealth Strategies are for general information only and are not intended to provide specific advice or recommendations for any individual. Past performance is no guarantee of future results. All indices are unmanaged and may not be invested into directly. Investing involves risk, including possible loss of principal. No strategy assures success or protects against loss. To determine what may be appropriate for you, consult with your attorney, accountant, financial or tax advisor prior to investing.

Investment advisory services offered through CWM, LLC, an Investment Advisor. Carson Partners, a division of CWM, LLC, is a nationwide partnership of advisors.

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📞✨ Get in touch with Chessman Wealth: https://www.chessmanwealth.com/

The Big Beautiful Bill may not have overhauled the entire tax system, but it quietly introduced a wave of limited-time tax opportunities, and the clock is already ticking. In this episode, Wade shares seven strategic tax moves to consider before many of these provisions expire in 2028. These changes could impact how much you owe, how much you save, and how fast you reach your goals.

Buried in the bill are real, actionable tax advantages—if you know where to look. Charitable deductions, auto loan interest write-offs, bonus depreciation—there’s a lot packed into the Big Beautiful Bill, and Wade breaks it all down in plain English. Miss this window, and you might be leaving money on the table. The rules have changed, but only for a few years. What you do now could shape your finances for the next decade.

For this week’s Kingdom Minute, Wade shares key biblical perspectives on taxes, pointing to scriptures in Matthew and Romans. He explains that while paying taxes is a civic duty, it's also part of honoring God’s appointed authorities. Wade also reminds us that generosity, like charitable giving, is both encouraged in scripture and recognized by the tax code.

Here’s some of what we discuss in this episode:

🎁 Front-load charitable giving to maximize new deductions

🍽️ No taxes on tips—if you report properly

🏗️ Use Section 179 and QBI to your advantage

🏘️ Bunch property taxes for max SALT deduction

👶 “Trump Accounts” offer $1K seed + tax-deferred growth

📖 Biblical reflections on taxes in the Kingdom Minute

Get in touch with Chessman Wealth: https://www.chessmanwealth.com/

The opinions voiced in The Money Knight podcast with Wade Chessman of Chessman Wealth Strategies are for general information only and are not intended to provide specific advice or recommendations for any individual. Past performance is no guarantee of future results. All indices are unmanaged and may not be invested into directly. Investing involves risk, including possible loss of principal. No strategy assures success or protects against loss. To determine what may be appropriate for you, consult with your attorney, accountant, financial or tax advisor prior to investing.

Investment advisory services offered through CWM, LLC, an Investment Advisor. Carson Partners, a division of CWM, LLC, is a nationwide partnership of advisors.

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📞✨ Get in touch with Chessman Wealth: https://www.chessmanwealth.com/

A new tax bill has officially passed (you’ve probably heard it mentioned as the “Big Beautiful Bill”). And while most headlines are focused on politics, Wade is focused on what really matters: how it impacts your retirement and financial plan. The choices you make in the next year or two could have a significant impact on how much you keep and how much goes to Uncle Sam.

In this episode, Wade breaks down what’s changing (and what’s not), including updates to tax brackets, standard deductions, and SALT caps. The good news? There are some new opportunities for retirees and pre-retirees to take advantage of, but it’s still a relatively short window to act before some of these new components expire in 2028, or before a new Congress changes things again.

Here’s some of what we discuss in this episode:

📊 Trump-era tax brackets extended beyond 2025

💸 New $12K deduction for couples over 65

🏡 SALT cap raised, especially impactful in high-tax states

🪙 Bonus depreciation win for small biz & landlords

🎁 Above-the-line deduction now available for givers

🚘 Auto loan deduction & EV credit deadlines

Get in touch with Chessman Wealth: https://www.chessmanwealth.com/

The opinions voiced in The Money Knight podcast with Wade Chessman of Chessman Wealth Strategies are for general information only and are not intended to provide specific advice or recommendations for any individual. Past performance is no guarantee of future results. All indices are unmanaged and may not be invested into directly. Investing involves risk, including possible loss of principal. No strategy assures success or protects against loss. To determine what may be appropriate for you, consult with your attorney, accountant, financial or tax advisor prior to investing.

Investment advisory services offered through CWM, LLC, an Investment Advisor. Carson Partners, a division of CWM, LLC, is a nationwide partnership of advisors.

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📞✨ Get in touch with Chessman Wealth: https://www.chessmanwealth.com/

The thing about assassins in the real world is that they’re sneaky and you don’t see them coming. The same is true for retirement planning. It’s not always the obvious threats that do the most damage. It’s the ones that creep in quietly, unnoticed, and unplanned for. In this episode, Wade breaks down what he calls the “retirement assassins,” those stealthy financial risks that can sneak up and completely derail your retirement if you’re not careful.

Wade walks through the biggest threats he sees time and time again: like inflation, losing a spouse, or just living longer than you planned for. These aren’t flashy risks, but they’re real, and they can quietly eat away at your savings if you’re not paying attention. The good news? With the right plan in place, none of them have to take you out. This episode is all about spotting the silent threats before they strike, so you can defend your retirement before it ever gets ambushed.

For this week’s Kingdom Minute, Wade reminds listeners that while we talk a lot about financial planning, it’s important to remember that trusting God doesn’t mean avoiding preparation. Scripture supports thoughtful, wise planning (Proverbs 21:5, 24:27, and 15:22), and biblical figures like Noah and Joseph are clear examples of faithful planners. Planning allows you to align your resources with God’s purpose, create margin for generosity, and act with intention.

Here’s some of what we discuss in this episode:

📉 Inflation: the slow and steady threat to your income

🏥 Long-term care: the most avoided conversation in retirement

💸 Taxes: today’s rates won’t last forever

🕊️ Widowhood: financial strategies for life’s hardest moment

⏳ Longevity: when a long life becomes a financial risk

Get in touch with Chessman Wealth: https://www.chessmanwealth.com/

The opinions voiced in The Money Knight podcast with Wade Chessman of Chessman Wealth Strategies are for general information only and are not intended to provide specific advice or recommendations for any individual. Past performance is no guarantee of future results. All indices are unmanaged and may not be invested into directly. Investing involves risk, including possible loss of principal. No strategy assures success or protects against loss. To determine what may be appropriate for you, consult with your attorney, accountant, financial or tax advisor prior to investing.

Investment advisory services offered through CWM, LLC, an Investment Advisor. Carson Partners, a division of CWM, LLC, is a nationwide partnership of advisors.

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📞✨ Get in touch with Chessman Wealth: https://www.chessmanwealth.com/

Giving to charity feels great. But what if you could do it in a way that also gave you a tax break, without needing to itemize? That’s where a Qualified Charitable Distribution (QCD) comes in. And if you're over 70½, this could be a game-changer. In this episode, Wade brings in a special guest: Sean Phillips, Vice President of Wealth Management at Chessman Wealth. Together, they break down everything you need to know: what QCDs are, how they work, and why the IRS finally made a move to improve how they’re reported.

It’s a great step, but there’s still a lot of confusion. Wade and Sean make it easy to understand how QCDs can reduce your taxable income, count toward your RMDs, and help you support causes you care about—without triggering more tax headaches. They also share why custodians aren’t exactly racing to implement the new IRS update, what to watch out for when reporting QCDs, and how to make sure your CPA and advisor are on the same page.

Here’s some of what we discuss in this episode:

📜 What a QCD is & why it matters

💸 Why writing a check might cost you more in taxes

📉 Reduce your taxable income with QCDs

🧾 The IRS’s new QCD reporting rule (and why custodians aren’t ready)

⚠️ The mistake that leads people to pay taxes they didn’t need to

Connect with Sean: https://www.chessmanwealth.com/team-members/sean-phillips/

Get in touch with Chessman Wealth: https://www.chessmanwealth.com/

The opinions voiced in The Money Knight podcast with Wade Chessman of Chessman Wealth Strategies are for general information only and are not intended to provide specific advice or recommendations for any individual. Past performance is no guarantee of future results. All indices are unmanaged and may not be invested into directly. Investing involves risk, including possible loss of principal. No strategy assures success or protects against loss. To determine what may be appropriate for you, consult with your attorney, accountant, financial or tax advisor prior to investing.

Investment advisory services offered through CWM, LLC, an Investment Advisor. Carson Partners, a division of CWM, LLC, is a nationwide partnership of advisors.

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Tax software makes it easier than ever to file your return on your own, but just because you can do your taxes yourself, doesn’t mean you should. In this episode, Wade explores when DIY tax filing makes sense and when it could lead to costly mistakes. If you’re a W-2 employee with no extra income streams, doing your own taxes might be just fine. But add a rental property, a home sale, a K-1, or retirement distributions, and the risks start to grow quickly.

Wade shares the most common errors he sees in self-filed returns, from misreporting investment income to missing out on valuable deductions. He also explains the key difference between tax preparation and true tax planning, and how financial advisors and CPAs can work together to spot opportunities before they expire. If you’ve ever used DIY tax software and found yourself wondering if you did it right, you’re not alone. Find out how you can make more informed choices for next year’s tax season.

Here’s some of what we discuss in this episode:

🧾 When DIY taxes actually make sense

🚨 Common self-filing mistakes that trigger IRS letters

💡 The difference between tax prep and tax planning

🤝 How advisors and CPAs team up for better outcomes

🧠 Missed deductions = missed opportunities

Get in touch with Chessman Wealth: https://www.chessmanwealth.com/

The opinions voiced in The Money Knight podcast with Wade Chessman of Chessman Wealth Strategies are for general information only and are not intended to provide specific advice or recommendations for any individual. Past performance is no guarantee of future results. All indices are unmanaged and may not be invested into directly. Investing involves risk, including possible loss of principal. No strategy assures success or protects against loss. To determine what may be appropriate for you, consult with your attorney, accountant, financial or tax advisor prior to investing.

Investment advisory services offered through CWM, LLC, an Investment Advisor. Carson Partners, a division of CWM, LLC, is a nationwide partnership of advisors.

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A little hope can go a long way, unless it's the foundation of your retirement plan. In this episode, Wade breaks down five common examples of wishful thinking that can quietly sabotage even the most well-intentioned retirees. From underestimating healthcare expenses to assuming you’ll just “keep working,” Wade explains why these hopeful assumptions can lead to stress, shortfalls, and lost opportunities.

Instead of vague optimism, it’s smart to have a plan grounded in reality. Wade shares real client experiences, practical alternatives, and stress-test strategies that can help you prepare for the what-ifs of retirement with clarity and confidence. This episode will help you trade guesswork for peace of mind, whether you’re 5 years away from retiring or already in the “go-go” years.

For this week’s Kingdom Minute, Wade discusses the spiritual significance of money in the Bible, and what it reveals about our hearts and what we truly value.

Here’s some of what we discuss in this episode:

💸 Counting on lower taxes in retirement? Think again.

🏥 A common long-term care myth

🍽️ Why you might spend more, not less, after retiring

💰 Can Social Security really carry you through?

🏃‍♂️ The risky plan of “I’ll just keep working”

Get in touch with Chessman Wealth: https://www.chessmanwealth.com/

The opinions voiced in The Money Knight podcast with Wade Chessman of Chessman Wealth Strategies are for general information only and are not intended to provide specific advice or recommendations for any individual. Past performance is no guarantee of future results. All indices are unmanaged and may not be invested into directly. Investing involves risk, including possible loss of principal. No strategy assures success or protects against loss. To determine what may be appropriate for you, consult with your attorney, accountant, financial or tax advisor prior to investing.

Investment advisory services offered through CWM, LLC, an Investment Advisor. Carson Partners, a division of CWM, LLC, is a nationwide partnership of advisors.

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Millions of people leave jobs each year, and often leave behind their 401(k) accounts too. But what actually happens to that money, and when should you consider rolling it into an IRA? It’s not as straightforward as some advisors make it sound. In this episode, Wade walks through the critical factors to consider before deciding whether to move your old 401(k), including why a rollover isn’t always the right move and what hidden risks might be lurking in accounts you’ve forgotten about.

You’ll also hear about the consequences of scattered investments, how “de-worsification” can happen when old accounts accumulate, and the real advantages (and limitations) of IRAs. He also covers common mistakes to avoid, the importance of a thorough cost-benefit analysis, and how tax implications can vary depending on how the rollover is handled.

For this week’s Kingdom Minute, Wade explores how to leave an inheritance with both wisdom and love. Instead of dividing everything equally by default, it encourages parents to consider each child’s unique needs and situation. Clear communication and thoughtful planning can help prevent conflict and strengthen family unity.

Here’s some of what we discuss in this episode:

📂 What really happens when you leave your 401(k) behind

⚖️ The pros and cons of rolling over into an IRA

📉 Why too many accounts can lead to “de-worsification”

🧭 How investment guidance fits into your rollover decision

🗣️ A biblical approach to inheritance that encourages unity

Get in touch with Chessman Wealth: https://www.chessmanwealth.com/

The opinions voiced in The Money Knight podcast with Wade Chessman of Chessman Wealth Strategies are for general information only and are not intended to provide specific advice or recommendations for any individual. Past performance is no guarantee of future results. All indices are unmanaged and may not be invested into directly. Investing involves risk, including possible loss of principal. No strategy assures success or protects against loss. To determine what may be appropriate for you, consult with your attorney, accountant, financial or tax advisor prior to investing.

Investment advisory services offered through CWM, LLC, an Investment Advisor. Carson Partners, a division of CWM, LLC, is a nationwide partnership of advisors.

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The headlines are loud and the markets are a bit messy. Your gut might be telling you to something – anything – but you’re not actually sure what to do. In this episode, Wade offers calm, practical guidance to help you avoid panic and make smarter choices during market downturns. If your instinct is to react fast, Wade shows you why slowing down might actually be the best move.

You’ll learn four essential questions to ask when the market gets rough, plus how to evaluate your financial plan like a real-time stress test. Wade also shares on several strategic opportunities to consider that don’t require taking drastic moves. Lessons from legendary investors like Warren Buffett and Peter Lynch can help you stay focused, stay disciplined, and stay on track, even when the market feels anything but stable.

Here’s some of what we discuss in this episode:

📈 What we learn from the financial legends

🔍 The best questions to ask yourself during a downturn

🧠 How volatility reveals your real risk tolerance

🔄 Rebalancing and tax-loss harvesting opportunities

🧘‍♂️ Why staying calm beats brilliance in market downturns

Get in touch with Chessman Wealth: https://www.chessmanwealth.com/

The opinions voiced in The Money Knight podcast with Wade Chessman of Chessman Wealth Strategies are for general information only and are not intended to provide specific advice or recommendations for any individual. Past performance is no guarantee of future results. All indices are unmanaged and may not be invested into directly. Investing involves risk, including possible loss of principal. No strategy assures success or protects against loss. To determine what may be appropriate for you, consult with your attorney, accountant, financial or tax advisor prior to investing.

Investment advisory services offered through CWM, LLC, an Investment Advisor. Carson Partners, a division of CWM, LLC, is a nationwide partnership of advisors.

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You’ve done a good job saving, but now what? In this episode, Wade tackles a question many people face as retirement approaches: how do you take solid savings and build a reliable, long-term plan around it? Wade breaks down the essential steps for transitioning from a lifetime of saving to a strategy for generating income, maintaining flexibility, and preparing for uncertainty.

He covers everything from taking inventory of your financial accounts to visualizing your lifestyle goals and building an income plan that factors in taxes, inflation, and longevity. You’ll also hear how Wade helps clients connect all the financial dots, giving so their wealth strategy reflects what matters most.

For this week’s Kingdom Minute, we talk about how building wealth God's way means seeing money as a tool, not a goal. Scripture reminds us to honor God first, work hard, avoid debt, and plan wisely, knowing He is the source of our ability to prosper.

Here’s some of what we discuss in this episode:

📋 Take inventory of accounts and assets

💰 Turning savings into consistent income

📉 Avoiding “deworsification” across accounts

📈 Inflation, longevity, and income planning

🎯 Aligning your money with your mission

Get in touch with Chessman Wealth: https://www.chessmanwealth.com/

The opinions voiced in The Money Knight podcast with Wade Chessman of Chessman Wealth Strategies are for general information only and are not intended to provide specific advice or recommendations for any individual. Past performance is no guarantee of future results. All indices are unmanaged and may not be invested into directly. Investing involves risk, including possible loss of principal. No strategy assures success or protects against loss. To determine what may be appropriate for you, consult with your attorney, accountant, financial or tax advisor prior to investing.

Investment advisory services offered through CWM, LLC, an Investment Advisor. Carson Partners, a division of CWM, LLC, is a nationwide partnership of advisors.

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What does a world-class golf tournament have to do with your financial future? Turns out quite a bit. The Masters is a beautiful reminder of just how much strategy, patience, and long-term focus goes into a great round of golf. Think about it: a hole-in-one may be thrilling, but it won’t win the tournament. Just like chasing a hot stock or one-time windfall will not secure your financial future.

Today, we’re teeing up a few key lessons from the course and how they translate into smarter planning for your financial future. From avoiding traps to playing the long game, this conversation reminds us that flashy wins (like a hole-in-one) might look impressive, but it's consistency, strategy, and preparation that truly lead to success.

Here’s some of what we discuss in this episode:

🚩 Avoiding hazards: spotting risks and gaps in your plan

📅 Why your back nine (70s, 80s, 90s) might matter most

🧠 The underrated value of having a financial “caddy” by your side

⛳ How a “full bag of clubs” mirrors smart financial diversification

Get in touch with Chessman Wealth: https://www.chessmanwealth.com/

The opinions voiced in The Money Knight podcast with Wade Chessman of Chessman Wealth Strategies are for general information only and are not intended to provide specific advice or recommendations for any individual. Past performance is no guarantee of future results. All indices are unmanaged and may not be invested into directly. Investing involves risk, including possible loss of principal. No strategy assures success or protects against loss. To determine what may be appropriate for you, consult with your attorney, accountant, financial or tax advisor prior to investing.

Investment advisory services offered through CWM, LLC, an Investment Advisor. Carson Partners, a division of CWM, LLC, is a nationwide partnership of advisors.

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April Fool’s Day is all about jokes and pranks, but when it comes to retirement planning, getting fooled can cost you real money. Today, we’re uncovering the beliefs that fool retirees and pre-retirees into making bad financial moves. We’ll cover some of the most common myths that can derail your retirement plans and explain why they might not be as true as they seem.

Should you really claim Social Security as soon as possible? Will Medicare cover all your healthcare costs? Don’t let financial myths fool you- tune in and take control of your retirement!

For this week’s Kingdom Minute, Wade shares some biblical wisdom from Proverbs on diligence, avoiding debt, and thoughtful investing.

Here are the myths we cover in today’s episode:

• “Guaranteed” high returns are easy to achieve
• Social Security is going away and you should claim it ASAP
• Underestimating how taxes can impact your retirement income
• The misunderstanding that Medicare will cover all healthcare costs
• The idea of the 'set it and forget it' retirement plan
• The misconception that retirees should be overly frugal
• The “I can just keep on working” fallacy

Get in touch with Chessman Wealth: https://www.chessmanwealth.com/

The opinions voiced in The Money Knight podcast with Wade Chessman of Chessman Wealth Strategies are for general information only and are not intended to provide specific advice or recommendations for any individual. Past performance is no guarantee of future results. All indices are unmanaged and may not be invested into directly. Investing involves risk, including possible loss of principal. No strategy assures success or protects against loss. To determine what may be appropriate for you, consult with your attorney, accountant, financial or tax advisor prior to investing.

Investment advisory services offered through CWM, LLC, an Investment Advisor. Carson Partners, a division of CWM, LLC, is a nationwide partnership of advisors.

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The day President Trump took office, he announced plans to implement a 25 percent tariff on goods from Mexico and Canada. Additional tariff conversations have exploded since that day. How might this impact your personal finances and the economy? Today, we’ll explain a bit of the backstory of tariffs and discuss these new tariffs.

For those looking to understand more about managing their finances in the face of uncertainty, this show will provide some great information about what’s happening and how we’re addressing these conversations with our clients.

Here’s some of what we discuss in this episode:

• What exactly are tariffs and what does it mean to you?
• Are tariffs a new thing?
• Why do markets typically react negatively to tariffs?
• What’s the strategy behind tariffs?
• How we approach conversations about tariffs with our clients.

Get in touch with Chessman Wealth: https://www.chessmanwealth.com/

The opinions voiced in The Money Knight podcast with Wade Chessman of Chessman Wealth Strategies are for general information only and are not intended to provide specific advice or recommendations for any individual. Past performance is no guarantee of future results. All indices are unmanaged and may not be invested into directly. Investing involves risk, including possible loss of principal. No strategy assures success or protects against loss. To determine what may be appropriate for you, consult with your attorney, accountant, financial or tax advisor prior to investing.

Investment advisory services offered through CWM, LLC, an Investment Advisor. Carson Partners, a division of CWM, LLC, is a nationwide partnership of advisors.

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Financial mistakes can happen at any age, but they can have a particularly significant impact in your 60s. In this episode, Wade discusses six critical financial mistakes that individuals often make during this pivotal decade. Understanding and avoiding these pitfalls can make the difference between a secure retirement and a financially precarious future.

There are numerous financial missteps that can occur as you prepare for retirement, which is why it’s so beneficial to work with an advisor. We can help you develop a customized plan that aligns with your goals and helps you avoid these common pitfalls.

We’ll also spend some time on the Rembrandt painting Parable of the Rich Fool and the parable from the Gospel of Luke. There’s a great financial lesson within this story and we’ll discuss it today.

Here’s some of what we discuss and we believe in this episode:

• Many individuals rely on hope rather than building an actual plan.
• Don’t enter retirement without knowing what your expenses are going to be.
• Taking on more risk than you need to rather than shifting your mindset to protecting what you’ve built.
• Delaying your Social Security might get you the largest benefit, but is that going to be your best strategy?
• While it’s natural to want to be conservative with your investments as you age, having a portion of your portfolio in growth-oriented assets might help combat inflation.

Check out Parable of the Rich Fool: https://en.wikipedia.org/wiki/Parable_of_the_Rich_Fool

Get in touch with Chessman Wealth: https://www.chessmanwealth.com/

The opinions voiced in The Money Knight podcast with Wade Chessman of Chessman Wealth Strategies are for general information only and are not intended to provide specific advice or recommendations for any individual. Past performance is no guarantee of future results. All indices are unmanaged and may not be invested into directly. Investing involves risk, including possible loss of principal. No strategy assures success or protects against loss. To determine what may be appropriate for you, consult with your attorney, accountant, financial or tax advisor prior to investing.

Investment advisory services offered through CWM, LLC, an Investment Advisor. Carson Partners, a division of CWM, LLC, is a nationwide partnership of advisors.

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In today's economic climate, the rising cost of healthcare is a pressing concern for many, especially those approaching retirement. In this episode, we will discuss the factors driving these costs and provide insights on how to manage them effectively.

Healthcare expenses have been outpacing general inflation, with costs rising by 5 to 6% annually. According to Fidelity, the average retiree spends about $4,300 per year on out-of-pocket healthcare costs. This figure is expected to grow, with a couple retiring in 2025 needing approximately $300,000 to $400,000 to cover healthcare expenses in retirement. These numbers can be daunting, but understanding the reasons behind the rising costs can help you prepare better.

For this week’s Kingdom Minute, will address the questions, ‘How much is enough?’ Inspired by the movie Wall Street, we explore the idea of focusing on eternal treasures rather than material wealth. This perspective encourages us to evaluate our priorities and find contentment in God's provision.

Here’s some of what we discuss in this episode:

• Is inflation the cause for everything going up?
• The reasons healthcare continues to be incredibly expensive.
• What are the expenses that people typically overlook in retirement?
• What can you do to help protect your finances from these healthcare costs?

Get in touch with Chessman Wealth: https://www.chessmanwealth.com/

The opinions voiced in The Money Knight podcast with Wade Chessman of Chessman Wealth Strategies are for general information only and are not intended to provide specific advice or recommendations for any individual. Past performance is no guarantee of future results. All indices are unmanaged and may not be invested into directly. Investing involves risk, including possible loss of principal. No strategy assures success or protects against loss. To determine what may be appropriate for you, consult with your attorney, accountant, financial or tax advisor prior to investing.

Investment advisory services offered through CWM, LLC, an Investment Advisor. Carson Partners, a division of CWM, LLC, is a nationwide partnership of advisors.

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For ​a ​lot ​of ​people, ​giving ​money ​to ​charities ​or beneficiaries ​that ​are ​close ​to ​them ​is ​very ​important. ​But ​oftentimes ​it's ​done ​as ​part ​of ​the ​estate ​planning process. ​Now we’re seeing a trend where more and more people are deciding to give while they’re still alive. Is this a good idea? ​Today's ​episode ​is ​all ​‘giving while you’re living’ and the planning decisions that go into gifting money now.

This approach allows individuals to see the impact of their generosity firsthand, guiding their loved ones in making wise financial decisions. Wade shares a personal story involving his father, who decided to start gifting money to his grandchildren. This anecdote sets the stage for a deeper dive into the rules and considerations around gifting.

Here’s some of what we discuss in this episode:

• Why a conversation with his dad sparked this conversation for Wade.
• How much can you give each year without having to file IRS forms?
• The lifetime exemption amounts per person and per married couple.
• What you need to consider before starting your gifting.

Get in touch with Chessman Wealth: https://www.chessmanwealth.com/

The opinions voiced in The Money Knight podcast with Wade Chessman of Chessman Wealth Strategies are for general information only and are not intended to provide specific advice or recommendations for any individual. Past performance is no guarantee of future results. All indices are unmanaged and may not be invested into directly. Investing involves risk, including possible loss of principal. No strategy assures success or protects against loss. To determine what may be appropriate for you, consult with your attorney, accountant, financial or tax advisor prior to investing.

Investment advisory services offered through CWM, LLC, an Investment Advisor. Carson Partners, a division of CWM, LLC, is a nationwide partnership of advisors.

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“Test everything; hold fast what is good.” - 1 Thessalonians 5:21.

In that verse, the Apostle Paul teaches that we should practice discernment in all things and we submit that includes financial advice. So this episode will tackle a common question: What should you ask a potential financial advisor?

When it comes to choosing someone you can trust and who is a good fit for your financial situation, it’s essential to ask the right questions. We discuss key factors to consider when interviewing financial professionals, from investment advisors to estate attorneys. Plus, we share valuable insight from Kingdom Advisors, which has over 1,600 Certified Kingdom Advisor professionals, and provide a comprehensive list of questions you should ask when interviewing any financial expert. Tune in for expert guidance on how to find the right financial advisor for your needs.

Here’s some of what we discuss in this episode:

• The first thing you might want to find out is how long your candidate advisor has been on the job.
• What you can ask to help form reasonable expectations.
• Referrals are extremely important, and they should be current or recent contacts.
• A set of questions that you may be uncomfortable with, but you need to ask them anyway.
• Don’t be afraid to ask about how your candidate expects to be paid.

Get in touch with Chessman Wealth: https://www.chessmanwealth.com/

The opinions voiced in The Money Knight podcast with Wade Chessman of Chessman Wealth Strategies are for general information only and are not intended to provide specific advice or recommendations for any individual. Past performance is no guarantee of future results. All indices are unmanaged and may not be invested into directly. Investing involves risk, including possible loss of principal. No strategy assures success or protects against loss. To determine what may be appropriate for you, consult with your attorney, accountant, financial or tax advisor prior to investing.

Investment advisory services offered through CWM, LLC, an Investment Advisor. Carson Partners, a division of CWM, LLC, is a nationwide partnership of advisors.

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Retirement is a phase of life that many of us look forward to, but what happens when it comes earlier than expected? An early retirement can put stress on your finances if you aren’t prepared and this episode will get into the challenges and planning opportunities you can expect.

Did you know that most Americans retire earlier than planned, often due to unforeseen circumstances like health issues or job changes? According to research by the Transamerica Center for Retirement Studies, 60% of Americans retire earlier than expected, with a median age of 62. This unexpected shift can leave many unprepared for the financial demands of a longer retirement. Wade Chessman shares his insights on why early planning is crucial and how to navigate these challenges effectively.

Here’s some of what we discuss in this episode:

• The reasons why people often find themselves in a position like this.
• The different areas of financial strain that you might feel.
• When should you start planning and how do you prepare yourself for this possibility?
• What other ways do people find happiness in retirement besides money?

Get in touch with Chessman Wealth: https://www.chessmanwealth.com/

The opinions voiced in The Money Knight podcast with Wade Chessman of Chessman Wealth Strategies are for general information only and are not intended to provide specific advice or recommendations for any individual. Past performance is no guarantee of future results. All indices are unmanaged and may not be invested into directly. Investing involves risk, including possible loss of principal. No strategy assures success or protects against loss. To determine what may be appropriate for you, consult with your attorney, accountant, financial or tax advisor prior to investing.

Investment advisory services offered through CWM, LLC, an Investment Advisor. Carson Partners, a division of CWM, LLC, is a nationwide partnership of advisors.

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In the wake of the recent election, many investors find themselves questioning how political outcomes might affect their portfolios. In this episode, Wade sheds light on why mixing politics with investing isn't always the best strategy and offer listeners valuable insights into the market's reaction to political events.

With this big event finally behind us, let’s talk about where you should be focused moving forward and the key factors that truly impact long-term investment success. Discover why the White House isn't the sole determinant of market performance, and explore the biblical principles that guide financial planning at Chessman Wealth

For this week’s Kingdom Minute, we’ll discuss the significance of stewardship, generosity, and maintaining a balanced approach to wealth accumulation as we share the five lies we believe about money.

Here’s some of what we discuss in this episode:

• A great Yogi Berra quote that applies to this discussion.
• The response by stocks immediately after the election results.
• Is the uncertainty in the market dropping?
• What really matters in the long run?

Get in touch with Chessman Wealth: https://www.chessmanwealth.com/

The opinions voiced in The Money Knight podcast with Wade Chessman of Chessman Wealth Strategies are for general information only and are not intended to provide specific advice or recommendations for any individual. Past performance is no guarantee of future results. All indices are unmanaged and may not be invested into directly. Investing involves risk, including possible loss of principal. No strategy assures success or protects against loss. To determine what may be appropriate for you, consult with your attorney, accountant, financial or tax advisor prior to investing.

Investment advisory services offered through CWM, LLC, an Investment Advisor. Carson Partners, a division of CWM, LLC, is a nationwide partnership of advisors.

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What makes you unique? That’s a question that you should be asking a prospective advisor during your search for the right fit. In this episode, Wade will break down exactly what sets Chessman Wealth Strategies apart from other financial services companies and explain the core values that we apply to everything we do.

If you’ve listened to any of our shows before, you know the role faith plays in our planning. We’ll tell you more about why that guides our decision-making and how we apply it to the plans we help build for clients. Discover how our Smart Choices Wealth Management Solution provides a structured process to help clients navigate complex financial situations, and learn about the importance of education and personalized financial solutions.

For this week’s Kingdom Minute, Wade will discuss how motivations matter when giving, and lessons on generosity that we see in The Book of Matthew.

Here’s some of what we discuss in this episode:

• Our core values at Chessman Wealth and how faith drives what we do.
• The Smart Choices Wealth Management Solution.
• How we help clients make informed financial choices and address specific needs.
• How motivations matter when giving.

Get in touch with Chessman Wealth: https://www.chessmanwealth.com/

The opinions voiced in The Money Knight podcast with Wade Chessman of Chessman Wealth Strategies are for general information only and are not intended to provide specific advice or recommendations for any individual. Past performance is no guarantee of future results. All indices are unmanaged and may not be invested into directly. Investing involves risk, including possible loss of principal. No strategy assures success or protects against loss. To determine what may be appropriate for you, consult with your attorney, accountant, financial or tax advisor prior to investing.

Investment advisory services offered through CWM, LLC, an Investment Advisor. Carson Partners, a division of CWM, LLC, is a nationwide partnership of advisors.

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Financial fraud and scams are seemingly everywhere these days. It seems like barely a day goes by without a new attempt to trick you through email, text, or social media. And now, there’s a new scam out there known as pig butchering.

In this episode, Wade will break down this pig butchering scam, along with other common financial scams that you may be targeted by. We’ll also discuss strategies that you can use to protect yourself from financial fraud, like using two-factor authentication, managing long, strong passwords with a password manager, and more.

You don’t want to be caught off guard by any of these scams, and it’s important to have the tools you need to protect yourself, so tune in and be prepared for whatever might be thrown at you!

Here’s some of what we discuss in this episode:

• What are some different types of financial fraud?
• It can be easier to fall for scams than you might think
• What is pig butchering?
• Strategies to protect yourself from financial fraud

Get in touch with Chessman Wealth: https://www.chessmanwealth.com/

The opinions voiced in The Money Knight podcast with Wade Chessman of Chessman Wealth Strategies are for general information only and are not intended to provide specific advice or recommendations for any individual. Past performance is no guarantee of future results. All indices are unmanaged and may not be invested into directly. Investing involves risk, including possible loss of principal. No strategy assures success or protects against loss. To determine what may be appropriate for you, consult with your attorney, accountant, financial or tax advisor prior to investing.

Investment advisory services offered through CWM, LLC, an Investment Advisor. Carson Partners, a division of CWM, LLC, is a nationwide partnership of advisors.

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Real estate is often heralded as an easy method for generating income in retirement. While it can certainly be a great way to supplement your income, there’s a lot that you want to take into consideration when it comes time to decide whether you want to add a rental property to your portfolio.

As Wade discusses in this episode, there needs to be a focus on cash flow when you make decisions, as well as a determination on if you want to do the work required of a landlord throughout your retirement. It’s not just a financial question, but a lifestyle decision as well.

For this week’s Kingdom Minute, Wade takes a dive into what financial lessons we can learn from the Gospel of Luke, and how we can tie that wisdom into our own lives.

Here’s some of what we discuss in this episode:

• How television and social media influence our perception of rental properties.
• Focus on cash flow when making decisions on rental properties for retirement.
• Considering whether you want to do the work of being a landlord during your retirement.

Get in touch with Chessman Wealth: https://www.chessmanwealth.com/

The opinions voiced in The Money Knight podcast with Wade Chessman of Chessman Wealth Strategies are for general information only and are not intended to provide specific advice or recommendations for any individual. Past performance is no guarantee of future results. All indices are unmanaged and may not be invested into directly. Investing involves risk, including possible loss of principal. No strategy assures success or protects against loss. To determine what may be appropriate for you, consult with your attorney, accountant, financial or tax advisor prior to investing.

Investment advisory services offered through CWM, LLC, an Investment Advisor. Carson Partners, a division of CWM, LLC, is a nationwide partnership of advisors.

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Every couple takes a different approach to their finances, and sometimes that leads to a lack of communication when it comes to money. Are you and your spouse on the same page when it comes to what retirement is going to look like? If not, it’s time to talk.

Listen to this episode where we'll explore why it’s so important for couples to have detailed conversations about their finances and retirement futures. We’ll cover exactly what you need to discuss, and how to handle any disagreements. Wade shares insights on why it's crucial for both spouses to be involved, the common areas of disagreement, and how to navigate them.

For this week’s Kingdom Minute, Wade takes a deep dive into the value of work from a Christian perspective, as well as some insight on the concept of retirement in the Bible.

Here’s some of what we discuss in this episode:

• Getting on the same page with your spouse in terms of the specifics of retirement planning.
• Key topics that couples should be discussing about their retirement plan.
• Even if one spouse is more interested in the financial side of things, getting both partners involved in the financial plan.
• The value of work from a Christian perspective and how a Christian work ethic ties into the concept of retirement.

Get in touch with Chessman Wealth: https://www.chessmanwealth.com/

The opinions voiced in The Money Knight podcast with Wade Chessman of Chessman Wealth Strategies are for general information only and are not intended to provide specific advice or recommendations for any individual. Past performance is no guarantee of future results. All indices are unmanaged and may not be invested into directly. Investing involves risk, including possible loss of principal. No strategy assures success or protects against loss. To determine what may be appropriate for you, consult with your attorney, accountant, financial or tax advisor prior to investing.

Investment advisory services offered through CWM, LLC, an Investment Advisor. Carson Partners, a division of CWM, LLC, is a nationwide partnership of advisors.

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When we work with people to come up with an effective investment strategy, one of the key tools that can help understand and manage the ups and downs of the market is the concept of standard deviation. In this episode, Wade breaks down this crucial metric and explains its significance in investing.

Standard deviation is a statistical measure that quantifies the amount of variation or dispersion of a set of values. In the context of investing, it helps measure how much the returns of an investment fluctuate from its average over time. Join us to learn how we can use this to better understand risk, measure volatility in the stock market, and apply it to portfolio management.

Here’s some of what we discuss in this episode:

• What standard deviation is and how it helps us with investing.
• Using standard deviation to help understand risk.
• How we help our clients match their investment choices to their personal comfort level of risk.
• Measuring volatility in the stock market.

Get in touch with Chessman Wealth: https://www.chessmanwealth.com/

The opinions voiced in The Money Knight podcast with Wade Chessman of Chessman Wealth Strategies are for general information only and are not intended to provide specific advice or recommendations for any individual. Past performance is no guarantee of future results. All indices are unmanaged and may not be invested into directly. Investing involves risk, including possible loss of principal. No strategy assures success or protects against loss. To determine what may be appropriate for you, consult with your attorney, accountant, financial or tax advisor prior to investing.

Investment advisory services offered through CWM, LLC, an Investment Advisor. Carson Partners, a division of CWM, LLC, is a nationwide partnership of advisors.

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In recent years, there have been significant changes to the rules governing inherited IRAs and Required Minimum Distributions (RMDs), primarily due to the introduction of the SECURE Act. These changes have left many people confused and unsure about how to proceed with their financial planning. Thankfully we have clarity now that the IRS has issued final regulations and today we’re going to update you on what’s most important for your retirement.

For this week’s Kingdom Minute, we’ll spend time on this question: Is Jesus Lord of all your affairs, or is there still one part of your life where you insist on being ‘in charge?’ That one area, all too often, is money. We all have to make a decision. Will we live in God’s economy or man’s?

Join us for a great episode with a lot of valuable information.

Here’s some of what we discuss in this episode:

• What is an inherited IRA and what did the rules used to be?
• What are the rules now and how do they differ for a spouse and non-spouse?
• The new regulations for RMDs to be aware of.

Get in touch with Chessman Wealth: https://www.chessmanwealth.com/

The opinions voiced in The Money Knight podcast with Wade Chessman of Chessman Wealth Strategies are for general information only and are not intended to provide specific advice or recommendations for any individual. Past performance is no guarantee of future results. All indices are unmanaged and may not be invested into directly. Investing involves risk, including possible loss of principal. No strategy assures success or protects against loss. To determine what may be appropriate for you, consult with your attorney, accountant, financial or tax advisor prior to investing.

Investment advisory services offered through CWM, LLC, an Investment Advisor. Carson Partners, a division of CWM, LLC, is a nationwide partnership of advisors.

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We hear a lot of half-truths in the financial world, not necessarily because people try to make misleading statements, but because sometimes a simple statement just doesn’t quite tell the whole story. These are statements may sound correct on the surface but they just don't tell the whole story.

On this episode, we’ll dive into the importance of understanding fees, the complexities of mortgage decisions, and why simply matching your employer's 401(k) contributions might not be enough. Wade also explains why having a retirement plan is crucial, even if you plan to work during retirement, and the limitations of relying solely on Medicare and Social Security.

We’ll cover a wide range of retirement planning topics today and hopefully clear up some of the gray area to help you make more informed decisions.

Here’s some of what we discuss in this episode:

• Why fees in your portfolio might not be as low as you think.
• Is it better to pay off your mortgage early or invest that money?
• Why diversification isn’t THE key to retirement planning.

Get in touch with Chessman Wealth: https://www.chessmanwealth.com/

The opinions voiced in The Money Knight podcast with Wade Chessman of Chessman Wealth Strategies are for general information only and are not intended to provide specific advice or recommendations for any individual. Past performance is no guarantee of future results. All indices are unmanaged and may not be invested into directly. Investing involves risk, including possible loss of principal. No strategy assures success or protects against loss. To determine what may be appropriate for you, consult with your attorney, accountant, financial or tax advisor prior to investing.

Investment advisory services offered through CWM, LLC, an Investment Advisor. Carson Partners, a division of CWM, LLC, is a nationwide partnership of advisors.

Why planning is still essential even if you plan to work in retirement.

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One of the most challenging things anyone can face, both emotionally and financially, is the death of a spouse. Many widows are left without a partner who they’ve relied on for many years, and it’s incredibly difficult to navigate.

While it can be hard to talk about, proper planning in advance can make the transition a little bit easier and take some of that financial stress off your plate. Join Wade as he discusses some of the challenges that may lie ahead financially for someone who just lost their spouse and some strategies to make those a little easier to manage.

This episode is a replay from a couple of years ago but an area of planning that we take very seriously. We help widows all the time so please reach out with any questions.

Here’s some of what we discuss in this episode:

• Planning in advance for the financial side of losing a spouse.
• Knowing what income you will need going forward.
• Tax changes for filing as single instead of jointly.
• What you need to know about navigating wills.

Get in touch with Chessman Wealth: https://www.chessmanwealth.com/

The opinions voiced in The Money Knight podcast with Wade Chessman of Chessman Wealth Strategies are for general information only and are not intended to provide specific advice or recommendations for any individual. Past performance is no guarantee of future results. All indices are unmanaged and may not be invested into directly. Investing involves risk, including possible loss of principal. No strategy assures success or protects against loss. To determine what may be appropriate for you, consult with your attorney, accountant, financial or tax advisor prior to investing.

Investment advisory services offered through CWM, LLC, an Investment Advisor. Carson Partners, a division of CWM, LLC, is a nationwide partnership of advisors.

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Most retirees will rely on Social Security to make up a significant portion of their income in retirement, but knowing what your benefits will be isn’t always something people have a good handle on. Today we’re going to break down how your earnings history, adjusted for inflation, determines your benefit.

From understanding the primary insurance amount (PIA) to the significance of your highest 35 years of earnings, this episode is packed with valuable insights for anyone nearing retirement. Understanding how Social Security works will help you maximize your benefits and plan effectively for retirement.

This episode is a replay from a couple of years ago but it’s a conversation that’s worth revisiting because Social Security continues to be a common topic of discussion with people we meet.

Here’s some of what we discuss in this episode:

What goes into the calculation?

How inflation is factored in and accounted for in the future.

Why it’s important to track your benefits online.

The role Social Security plays in income planning.

Get in touch with Chessman Wealth: https://www.chessmanwealth.com/

The opinions voiced in The Money Knight podcast with Wade Chessman of Chessman Wealth Strategies are for general information only and are not intended to provide specific advice or recommendations for any individual. Past performance is no guarantee of future results. All indices are unmanaged and may not be invested into directly. Investing involves risk, including possible loss of principal. No strategy assures success or protects against loss. To determine what may be appropriate for you, consult with your attorney, accountant, financial or tax advisor prior to investing.

Investment advisory services offered through CWM, LLC, an Investment Advisor. Carson Partners, a division of CWM, LLC, is a nationwide partnership of advisors.

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When planning your estate, one of the critical decisions you’ll face is naming beneficiaries for your Individual Retirement Account (IRA). While many people designate their spouse, children, or other loved ones as direct beneficiaries, there are situations where naming a trust or your estate as the beneficiary may be advantageous. Today we’re going to take a closer look at this topic and the decisions you’ll need to make.

While naming a trust or an estate as an IRA beneficiary can offer control and protection, it's essential to weigh the benefits against the drawbacks. The Secure Act has changed the landscape, making it more crucial than ever to review your estate planning strategies. This episode will give you some things to consider, but you’ll want to lean on a professional to help you make the best decisions for you and your beneficiaries.

Here’s some of what we discuss in this episode:

• The impact of the SECURE Act and how beneficiaries manage their inherited assets.
• Why you’d want to consider a trust as an IRA beneficiary.
• The drawbacks of trusts and estates.
• The importance of seeking professional advice when it comes to setting up an estate plan.

Get in touch with Chessman Wealth: https://www.chessmanwealth.com/

The opinions voiced in The Money Knight podcast with Wade Chessman of Chessman Wealth Strategies are for general information only and are not intended to provide specific advice or recommendations for any individual. Past performance is no guarantee of future results. All indices are unmanaged and may not be invested into directly. Investing involves risk, including possible loss of principal. No strategy assures success or protects against loss. To determine what may be appropriate for you, consult with your attorney, accountant, financial or tax advisor prior to investing.

Investment advisory services offered through CWM, LLC, an Investment Advisor. Carson Partners, a division of CWM, LLC, is a nationwide partnership of advisors.

Ed Slott’s Elite IRA Advisor Group is a group of financial professionals who pay a fee to attend a seminar that explores regulations, tax updates, and other issues regarding individual retirement accounts. It does not qualify a financial professional to provide investment recommendations, or advice. Ed Slott and Ed Slott’s Master Elite IRA Advisory GroupSM are not affiliated with CWM, LLC.

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Very often, we see people who know that the financial decisions that they’re making aren’t the best decisions, but they try to create excuses or explanations for why they’re doing what they’re doing.

From starting Social Security early to taking on too much investment risk, Wade offers insights into why these justifications often don't hold water and how to make better choices for a secure financial future.

Here’s some of what we discuss in this episode:

• Why you might not want to start Social Security at age 62.
• When you might be taking too much risk with your money.
• Why you shouldn’t keep your money in cash out of fear of a market crash.
• Do you know what you’re invested in?
• Why you should consider working with an advisor.

Get in touch with Chessman Wealth: https://www.chessmanwealth.com/

The opinions voiced in The Money Knight podcast with Wade Chessman of Chessman Wealth Strategies are for general information only and are not intended to provide specific advice or recommendations for any individual. Past performance is no guarantee of future results. All indices are unmanaged and may not be invested into directly. Investing involves risk, including possible loss of principal. No strategy assures success or protects against loss. To determine what may be appropriate for you, consult with your attorney, accountant, financial or tax advisor prior to investing.

Investment advisory services offered through CWM, LLC, an Investment Advisor. Carson Partners, a division of CWM, LLC, is a nationwide partnership of advisors.

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As you edge closer to retirement, have you considered the role of long-term care insurance in your financial plan? As plans and policies evolve, we want to take some time to help guide you through the nuances of long-term care and its critical importance for your future.

Long-term care insurance has undergone significant transformations, and understanding these changes is key to making informed decisions. With life expectancies increasing and healthcare costs on the rise, nearly 70% of people turning age 65 are expected to require some form of long-term care. This stark statistic from the U.S. Department of Health and Human Services highlights the urgency of planning ahead.

We’ll share insights on the changes in insurance policies, the importance of protecting assets, and the innovative hybrid options available today.

Here’s some of what we discuss in this episode:

• What is long-term care insurance and how has it evolved?
• Why would you consider long-term care insurance?
• The limitations of traditional policies.
• What are the new hybrid policies?

Get in touch with Chessman Wealth: https://www.chessmanwealth.com/

The opinions voiced in The Money Knight podcast with Wade Chessman of Chessman Wealth Strategies are for general information only and are not intended to provide specific advice or recommendations for any individual. Past performance is no guarantee of future results. All indices are unmanaged and may not be invested into directly. Investing involves risk, including possible loss of principal. No strategy assures success or protects against loss. To determine what may be appropriate for you, consult with your attorney, accountant, financial or tax advisor prior to investing.

Investment advisory services offered through CWM, LLC, an Investment Advisor. Carson Partners, a division of CWM, LLC, is a nationwide partnership of advisors.

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Are you planning for your retirement with the confidence that you're making all the right moves? You might feel that way, but many of the mistakes that people make happen when it’s too late to correct them.

In today's episode, we'll unveil the crucial income planning mistakes that could jeopardize your retirement and show you how to craft a financial plan that's built to last decades, not just years. Tune in to ensure your retirement strategy is foolproof against common pitfalls and ready to secure your financial future.

Here’s some of what we discuss in this episode:

• Don’t plan to be retired for years. Plan to be retired for decades.
• Don’t start Social Security too early.
• Don’t assume that bonds will be your main source for retirement income.
• Don’t ignore inflation.
• Don’t forget to create lifetime income streams other than just Social Security.

Get in touch with Chessman Wealth: https://www.chessmanwealth.com/

The opinions voiced in The Money Knight podcast with Wade Chessman of Chessman Wealth Strategies are for general information only and are not intended to provide specific advice or recommendations for any individual. Past performance is no guarantee of future results. All indices are unmanaged and may not be invested into directly. Investing involves risk, including possible loss of principal. No strategy assures success or protects against loss. To determine what may be appropriate for you, consult with your attorney, accountant, financial or tax advisor prior to investing.

Investment advisory services offered through CWM, LLC, an Investment Advisor. Carson Partners, a division of CWM, LLC, is a nationwide partnership of advisors.

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Estate planning: it's a term that often evokes a sense of finality and permanence. However, estate planning is anything but a one-time event. It's a dynamic process that requires regular attention and updates to stay aligned with our lives' ever-changing landscape.

Many people, including those with significant wealth, either lack an estate plan or let their existing one gather dust on a shelf. Wade shares his surprise at how common this oversight is and stresses the importance of treating your estate plan with the same care you would your investment portfolio. Just as life evolves—children grow, we move to new states, our health changes—so too should the documents that dictate our wishes after we're gone.

Here’s some of what we discuss in this episode:

• Why it’s important to review these documents alongside your financial plan.
• What documents do you need to have?
• The importance of an estate plan to your overall plan.

Get in touch with Chessman Wealth: https://www.chessmanwealth.com/

The opinions voiced in The Money Knight podcast with Wade Chessman of Chessman Wealth Strategies are for general information only and are not intended to provide specific advice or recommendations for any individual. Past performance is no guarantee of future results. All indices are unmanaged and may not be invested into directly. Investing involves risk, including possible loss of principal. No strategy assures success or protects against loss. To determine what may be appropriate for you, consult with your attorney, accountant, financial or tax advisor prior to investing.

Investment advisory services offered through CWM, LLC, an Investment Advisor. Carson Partners, a division of CWM, LLC, is a nationwide partnership of advisors.

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In this episode, Wade Chessman does more than just explain what a backdoor Roth IRA is; he walks you through the entire process. He addresses the common misconceptions and lays out the benefits in a way that's both easy to understand and actionable. Whether you're a seasoned investor or a novice to the world of finance, Wade's insights are invaluable.

Here’s some of what we discuss in this episode:

• What is a backdoor Roth?
• The backdoor Roth allows you to contribute after-tax money to an account.
• When does it make sense for you?
• Can you do it yourself?

Get in touch with Chessman Wealth: https://www.chessmanwealth.com/

The opinions voiced in The Money Knight podcast with Wade Chessman of Chessman Wealth Strategies are for general information only and are not intended to provide specific advice or recommendations for any individual. Past performance is no guarantee of future results. All indices are unmanaged and may not be invested into directly. Investing involves risk, including possible loss of principal. No strategy assures success or protects against loss. To determine what may be appropriate for you, consult with your attorney, accountant, financial or tax advisor prior to investing.

Investment advisory services offered through CWM, LLC, an Investment Advisor. Carson Partners, a division of CWM, LLC, is a nationwide partnership of advisors.

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Imagine your retirement plan as a ship sailing toward a horizon of rest and relaxation. But what if one leak could sink it all? In today’s episode, we spotlight some of the single oversights that could send your dreams to the bottom. We'll share key strategies to plug the gaps, ensuring your financial ship stays buoyant and on course. Tune in to protect your future from the one mistake that could derail everything.

Here’s some of what we discuss in this episode:

• The importance of having a robust financial strategy that ensures a steady income throughout retirement.
• Investment strategies to keep pace with, or beat, inflation.
• The importance of considering long-term care costs in retirement planning.
• The potential impact of market volatility on retirement savings.
• Tax-advantaged savings options and strategies to manage tax risk.

Get in touch with Chessman Wealth: https://www.chessmanwealth.com/

The opinions voiced in The Money Knight podcast with Wade Chessman of Chessman Wealth Strategies are for general information only and are not intended to provide specific advice or recommendations for any individual. Past performance is no guarantee of future results. All indices are unmanaged and may not be invested into directly. Investing involves risk, including possible loss of principal. No strategy assures success or protects against loss. To determine what may be appropriate for you, consult with your attorney, accountant, financial or tax advisor prior to investing.

Investment advisory services offered through CWM, LLC, an Investment Advisor. Carson Partners, a division of CWM, LLC, is a nationwide partnership of advisors.

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Despite the progress women have made with money, the path to retirement is not without its unique challenges, and it’s important to recognize the financial hurdles that they continue to face. We work with more and more women every year and see these issues first hand.

In this episode, we’ll share some eye-opening statistics and actionable advice to empower women in their financial journey. From the persistent gender pay gap to the impact of caregiving responsibilities and higher debt burdens, this is why retirement planning is different for women and we’ll talk about how we work through these things at Chessman Wealth.

Here’s some of what we discuss in this episode:

• Lower income can limit their ability to save and impact certain retirement benefits.
• On top of earning less, women generally take the caregiving lead for children and elder relatives.
• Divorce can also be a major setback for women, especially those who are relying on their partners for future financial support.
• Women often carry more debt, which can slow down the savings process.

Get in touch with Chessman Wealth: https://www.chessmanwealth.com/

The opinions voiced in The Money Knight podcast with Wade Chessman of Chessman Wealth Strategies are for general information only and are not intended to provide specific advice or recommendations for any individual. Past performance is no guarantee of future results. All indices are unmanaged and may not be invested into directly. Investing involves risk, including possible loss of principal. No strategy assures success or protects against loss. To determine what may be appropriate for you, consult with your attorney, accountant, financial or tax advisor prior to investing.

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Unlock the secrets to aligning your philanthropic spirit with savvy tax strategies by utilizing Qualified Charitable Distributions (QCDs). Discover how these powerful financial tools can help you support your favorite charities while managing your taxable income more effectively, especially when dealing with required minimum distributions from your IRA.

In this episode, we navigate the complexities of IRS regulations, unveiling how QCDs can smartly satisfy required minimum distributions and offer a substantial boon to your favored nonprofit organizations, all the while keeping an eye on your financial well-being.

For this week’s Kingdom Minute, we’ll discuss letting people borrow money and how to handle that debt.

Here’s some of what we discuss in this episode:

• What are some things we can do to minimize our tax liability while helping our favorite charities?
• How does a QCD work?
• What are some of the requirements for using these QCDs for tax purposes?
• Why you want to keep good records for any QCDs that you make.

Get in touch with Chessman Wealth: https://www.chessmanwealth.com/

The opinions voiced in The Money Knight podcast with Wade Chessman of Chessman Wealth Strategies are for general information only and are not intended to provide specific advice or recommendations for any individual. Past performance is no guarantee of future results. All indices are unmanaged and may not be invested into directly. Investing involves risk, including possible loss of principal. No strategy assures success or protects against loss. To determine what may be appropriate for you, consult with your attorney, accountant, financial or tax advisor prior to investing.

Investment advisory services offered through CWM, LLC, an Investment Advisor. Carson Partners, a division of CWM, LLC, is a nationwide partnership of advisors.

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After years of nearly zero interest rates in savings accounts, we’ve seen a much higher interest rate environment over the past few years. Getting four or five percent on your conservative investments is nice, but is it enough?

In this episode, we explore this question, examining how the recent rise in interest rates affects the money sitting in savings accounts, CDs, and conservative investments. We'll discuss the new dynamics of managing your funds in a world where traditional saving methods are seeing better returns. Are these options now a viable part of a savvy investment strategy, or are there still better ways to make your money work harder for you?

For this week’s Kingdom Minute, we’ll discuss letting people borrow money and how to handle that debt.

Here’s some of what we discuss in this episode:

• Should you take full advantage of these interest rates?
• How to build a portfolio that matches your risk tolerance while getting the growth you need.
• You can’t predict how and when rates will change.

Get in touch with Chessman Wealth: https://www.chessmanwealth.com/

The opinions voiced in The Money Knight podcast with Wade Chessman of Chessman Wealth Strategies are for general information only and are not intended to provide specific advice or recommendations for any individual. Past performance is no guarantee of future results. All indices are unmanaged and may not be invested into directly. Investing involves risk, including possible loss of principal. No strategy assures success or protects against loss. To determine what may be appropriate for you, consult with your attorney, accountant, financial or tax advisor prior to investing.

Investment advisory services offered through CWM, LLC, an Investment Advisor. Carson Partners, a division of CWM, LLC, is a nationwide partnership of advisors.

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Listen in as we kick off the new year with a focus on an essential aspect of financial planning: understanding taxes. Wade wrote a book called Saved: How Christians Can Reduce Taxes and Make Smart Choices with Their Money and this episode we’ll tell you more about it and what you can learn from the book.

Today’s show sheds light on the fine line between tax planning and tax preparation, ensuring you're equipped to optimize your finances and honor your values without overpaying Uncle Sam. Our mission is to help you make smart choices about your money so you can worry less, enjoy life more and ultimately become a better steward of the resources God has provided. One of the top ways you can do that is to be real wise about taxes, and we’ll discuss how we help you do that in this episode.

If you’d like to get a copy of the book, email us at wade@chessmanwealth.com and we’ll get a copy over to you.

Here’s some of what we discuss in this episode:

• We’ll highlight one Bible verse that talks specifically about the importance of paying taxes.
• How charitable giving plays into tax planning strategies.
• Why tax planning is so important right now.
• The differences between tax planning and tax prep.

Get in touch with Chessman Wealth: https://www.chessmanwealth.com/

The opinions voiced in The Money Knight podcast with Wade Chessman of Chessman Wealth Strategies are for general information only and are not intended to provide specific advice or recommendations for any individual. Past performance is no guarantee of future results. All indices are unmanaged and may not be invested into directly. Investing involves risk, including possible loss of principal. No strategy assures success or protects against loss. To determine what may be appropriate for you, consult with your attorney, accountant, financial or tax advisor prior to investing.

Investment advisory services offered through CWM, LLC, an Investment Advisor. Carson Partners, a division of CWM, LLC, is a nationwide partnership of advisors.

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When you think about saving for retirement, company retirement plans or IRAs probably come to mind. But there’s another option that people often overlook but using it alongside those traditional accounts could provide some great benefits. Today we’re going to tell you more about the potential of Health Savings Accounts (HSAs) for retirement planning.

In this episode, we’ll take a closer look at the eligibility criteria and the unique triple tax advantage that HSAs offer, emphasizing how they can serve not just immediate healthcare needs but also as a strategic asset for future financial well-being. Wade shares his expertise on how to maximize HSA contributions, highlighting the ways these accounts can complement your retirement savings and the significance of early investment. Our discussion will also let you in on the lesser-known tactics of using non-HSA funds for healthcare costs, allowing your HSA balance to flourish and become a robust nest egg for your golden years.

For this week’s Kingdom Minute, Wade will tie in his favorite movie, Scrooge, in a holiday-themed financial message.

Here’s some of what we discuss in this episode:

• An explanation of how the HSA works and the contribution limits for individuals and families.
• Why we sometimes refer to these HSAs as super IRAs.
• Any HSA qualifying expense can be reimbursed at any point down the road.
• The a few examples of unexpected expenses that qualify.

Get in touch with Chessman Wealth: https://www.chessmanwealth.com/

The opinions voiced in The Money Knight podcast with Wade Chessman of Chessman Wealth Strategies are for general information only and are not intended to provide specific advice or recommendations for any individual. Past performance is no guarantee of future results. All indices are unmanaged and may not be invested into directly. Investing involves risk, including possible loss of principal. No strategy assures success or protects against loss. To determine what may be appropriate for you, consult with your attorney, accountant, financial or tax advisor prior to investing.

Investment advisory services offered through CWM, LLC, an Investment Advisor. Carson Partners, a division of CWM, LLC, is a nationwide partnership of advisors.

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When we talk about end of the year planning items, giving is typically a priority for many people. It’s close to our heart and something we enjoy helping people with. When most people think about giving, they really only consider giving cash, but there are some other options that you might want to consider this year.

Cash gifts can come in the form of checks and deposits as well, but that can leave people feeling frustrated because they don’t think they can give away any more of their income. That’s why we want to talk about asset-based giving, which might also be more tax-efficient than cash giving as well. We’ll explain how this works and why it might be a better option for you.

Here’s some of what we discuss in this episode:

• Why people might not want to give cash.
• In the US, 10% of all wealth is held in cash but 80% of giving is done in cash.
• Examples of assets that you might give.
• How to incorporate charitable giving into your legacy planning.

Get in touch with Chessman Wealth: https://www.chessmanwealth.com/

The opinions voiced in The Money Knight podcast with Wade Chessman of Chessman Wealth Strategies are for general information only and are not intended to provide specific advice or recommendations for any individual. Past performance is no guarantee of future results. All indices are unmanaged and may not be invested into directly. Investing involves risk, including possible loss of principal. No strategy assures success or protects against loss. To determine what may be appropriate for you, consult with your attorney, accountant, financial or tax advisor prior to investing.

Investment advisory services offered through CWM, LLC, an Investment Advisor. Carson Partners, a division of CWM, LLC, is a nationwide partnership of advisors.

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Join us for a thoughtful episode where we unpack our 2023 edition of key year-end planning strategies for those nearing or embracing their retirement years. We'll explore the nuances of optimizing your investment portfolio, safeguarding your assets, and ensuring a stable, rewarding lifestyle in the years to come.

Together, we'll navigate through essential topics like managing RMDs, exploring tax-saving opportunities, and even touching on the often-overlooked emotional aspects of this pivotal life transition. Plus, this episode’s Kingdom Minute includes a bonus planning item to tie everything together.

Here’s some of what we discuss in this episode:

• The general planning and investment strategies we pay attention to.
• The tax planning strategies to consider before the year ends.
• With open enrollment underway, what should you be paying attention to with health insurance?
• Taking steps to become more safe and secure with your cybersecurity.
• Estate planning items to give some attention to.

Get in touch with Chessman Wealth: https://www.chessmanwealth.com/

The opinions voiced in The Money Knight podcast with Wade Chessman of Chessman Wealth Strategies are for general information only and are not intended to provide specific advice or recommendations for any individual. Past performance is no guarantee of future results. All indices are unmanaged and may not be invested into directly. Investing involves risk, including possible loss of principal. No strategy assures success or protects against loss. To determine what may be appropriate for you, consult with your attorney, accountant, financial or tax advisor prior to investing.

Investment advisory services offered through CWM, LLC, an Investment Advisor. Carson Partners, a division of CWM, LLC, is a nationwide partnership of advisors.

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On this episode, we're going to continue the conversation we started on our last show about high-net-worth individuals by addressing the option of umbrella liability insurance? Is this something that you need? It might seem like an obvious choice because it appears to be a ‘bargain’ on the surface, but does it provide the coverage you need?

Wade will explain what it is and lay out some of the pros and cons that come with an umbrella insurance policy. If it’s something you’re considering, this episode should provide an overview but make sure you sit down with a financial professional to determine whether it’s a good fit.

Here’s some of what we discuss in this episode:

• What do ‘property and casualty’ policies cover?
• What’s already covered by your policy?
• Some factors to consider for needing added protections.
• What does an umbrella policy not cover?
• Final considerations and why it might be something you want.

Get in touch with Chessman Wealth: https://www.chessmanwealth.com/

The opinions voiced in The Money Knight podcast with Wade Chessman of Chessman Wealth Strategies are for general information only and are not intended to provide specific advice or recommendations for any individual. Past performance is no guarantee of future results. All indices are unmanaged and may not be invested into directly. Investing involves risk, including possible loss of principal. No strategy assures success or protects against loss. To determine what may be appropriate for you, consult with your attorney, accountant, financial or tax advisor prior to investing.

Investment advisory services offered through CWM, LLC, an Investment Advisor. Carson Partners, a division of CWM, LLC, is a nationwide partnership of advisors.

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In today's episode, we're taking a close look at high-net-worth individuals - those who have accumulated significant wealth and face unique challenges and opportunities when planning for retirement. Unlike the average person, their financial considerations go beyond the basics. We'll explore the distinct strategies and factors that come into play when securing a comfortable and prosperous retirement.

For this week’s Kingdom Minute, we want to highlight some commonly misunderstood verses in the Bible that talk about money. There’s a lot of talk about money in the Bible but it’s not always interpreted the correct way so we’ll try to sort through that today.

Here’s some of what we discuss in this episode:

• What classifies someone as having a high net worth?
• The complexities that we need to navigate when planning.
• Tax planning becomes increasingly important.
• What discussions will you need to have about your estate?
• Having a high net worth means you might have unique liability issues to consider.
• 3 retirement planning myths hurting high-net-worth individuals.

Get in touch with Chessman Wealth: https://www.chessmanwealth.com/

The opinions voiced in The Money Knight podcast with Wade Chessman of Chessman Wealth Strategies are for general information only and are not intended to provide specific advice or recommendations for any individual. Past performance is no guarantee of future results. All indices are unmanaged and may not be invested into directly. Investing involves risk, including possible loss of principal. No strategy assures success or protects against loss. To determine what may be appropriate for you, consult with your attorney, accountant, financial or tax advisor prior to investing.

Investment advisory services offered through CWM, LLC, an Investment Advisor. Carson Partners, a division of CWM, LLC, is a nationwide partnership of advisors.

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In this episode of The Money Knight podcast, we delve into a significant yet often overlooked threat to your retirement - the sequence of returns risk. Many people are unaware of the potential impact this risk can have on their retirement savings. Join us as we shed light on this issue and explore effective strategies to mitigate its consequences.

Listen in as Wade explains how critical it is to have a plan in place to safeguard your retirement savings against market volatility during your early years of retirement. He dives into the power of the bucket strategy and insurance products in reducing sequence of return risk. For this week’s Kingdom Minute, we take a look at what the Bible has to say about diversification. Tune in to get insights into managing sequence of return risk and safeguarding your retirement dreams!

Here’s some of what we discuss in this episode:

• What is sequence of return risk, and why is it important to understand, especially in retirement planning?
• What is the bucketing strategy, and how can it help mitigate sequence of return risk?
• Using insurance products like whole life or indexed life insurance as additional tools to reduce the impact of sequence of return risk.
• Why diversifying your investments is a wise + biblical approach to safeguarding your financial future.

Get in touch with Chessman Wealth: https://www.chessmanwealth.com/

The opinions voiced in The Money Knight podcast with Wade Chessman of Chessman Wealth Strategies are for general information only and are not intended to provide specific advice or recommendations for any individual. Past performance is no guarantee of future results. All indices are unmanaged and may not be invested into directly. Investing involves risk, including possible loss of principal. No strategy assures success or protects against loss. To determine what may be appropriate for you, consult with your attorney, accountant, financial or tax advisor prior to investing.

Investment advisory services offered through CWM, LLC, an Investment Advisor. Carson Partners, a division of CWM, LLC, is a nationwide partnership of advisors.

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Losing a spouse is an unimaginably tough life event, but the financial implications can add another layer of stress to the grieving process. In this episode, we delve deep into the most common financial issues faced by widows and widowers, from dealing with income gaps to navigating tax changes as a single filer.

We explore actionable strategies to address these problems, such as the importance of life insurance and the ins and outs of spousal pension continuation. This is the episode for you if you’re concerned with ensuring the financial well-being of your remaining family members and safeguarding your financial future and legacy in the face of loss.

For this week’s Kingdom Minute, Wade will discuss the story of King Midas, which reminds us that the love of money can cause problems.

Here’s some of what we discuss in this episode:

• Common financial issues faced by widows and widowers include an income gap and changes in tax filing status
• Some strategies that Wade uses with clients to help bridge the income gap and prepare for unexpected events
• After the loss of a spouse, it's important to review and update your estate plan, communicate with heirs, and ensure that your beneficiary designations are accurate
• Trusts can be a useful tool in estate planning, but their appropriateness depends on individual circumstances and should be discussed with a qualified professional

Get in touch with Chessman Wealth: https://www.chessmanwealth.com/

The opinions voiced in The Money Knight podcast with Wade Chessman of Chessman Wealth Strategies are for general information only and are not intended to provide specific advice or recommendations for any individual. Past performance is no guarantee of future results. All indices are unmanaged and may not be invested into directly. Investing involves risk, including possible loss of principal. No strategy assures success or protects against loss. To determine what may be appropriate for you, consult with your attorney, accountant, financial or tax advisor prior to investing.

Investment advisory services offered through CWM, LLC, an Investment Advisor. Carson Partners, a division of CWM, LLC, is a nationwide partnership of advisors.

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More and more women are taking control of their finances and have found that the general guidance out there is perfectly suitable for what they need. However, women still face a few more financial challenges than men and that requires a little more diligence to create financial freedom.

In this episode, Wade is going to discuss seven financial strategies that women should consider as they plan for their future. These fundamental principles in planning will help alleviate the worry and anxiety that many women feel when it comes to their finances.

We’ll also bring you another Kingdom Minute this week as Wade talks about the topic of ‘How big is your barn?’

Here are the different temptations we discuss in this episode:

1. Save for emergencies
2. Pay off debt
3. Plan for retirement
4. Build and maintain a budget
5. Diversify your investments
6. Consider your insurance options
7. Create an estate plan

Get in touch with Chessman Wealth: https://www.chessmanwealth.com/

The opinions voiced in The Money Knight podcast with Wade Chessman of Chessman Wealth Strategies are for general information only and are not intended to provide specific advice or recommendations for any individual. Past performance is no guarantee of future results. All indices are unmanaged and may not be invested into directly. Investing involves risk, including possible loss of principal. No strategy assures success or protects against loss. To determine what may be appropriate for you, consult with your attorney, accountant, financial or tax advisor prior to investing.

Investment advisory services offered through CWM, LLC, an Investment Advisor. Carson Partners, a division of CWM, LLC, is a nationwide partnership of advisors.

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If you’ve listened to this show before, you know we like to look at financial planning from a Biblical perspective and often dedicate a portion of the show to doing just that. In this episode, we want to go a little deeper on the relationship between faith and finances by discussing five money temptations we all face.

Money is an essential aspect of our lives, and how we manage it can say a lot about our beliefs, morals, and relationship with God. The temptation to mismanage our money is real and can sometimes lead us astray.

Wade points out that our relationship with money could either draw us closer to God or lead us away from Him, and he underscores the importance of understanding the allure of money and its potential to suffocate God's word.

Here are the different temptations we discuss in this episode:

1. The temptation to desire riches
2. The temptation to love money
3. The temptation to be stingy
4. The temptation to put our hope in money
5. The temptation to not put God first in our finances

Get in touch with Chessman Wealth: https://www.chessmanwealth.com/

The opinions voiced in The Money Knight podcast with Wade Chessman of Chessman Wealth Strategies are for general information only and are not intended to provide specific advice or recommendations for any individual. Past performance is no guarantee of future results. All indices are unmanaged and may not be invested into directly. Investing involves risk, including possible loss of principal. No strategy assures success or protects against loss. To determine what may be appropriate for you, consult with your attorney, accountant, financial or tax advisor prior to investing.

Investment advisory services offered through CWM, LLC, an Investment Advisor. Carson Partners, a division of CWM, LLC, is a nationwide partnership of advisors.

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There are some people who don’t care at all about leaving a financial legacy, but for those who do, it’s important to eliminate some of the common estate planning mistakes.

In this episode, we cover topics ranging from poor expense planning to outdated beneficiary designations and family conflict triggers. We also shed light on some misconceptions about transferring real estate and explain the impact of tax implications on your estate.

If you want to leave a legacy without regret or legal turmoil, this episode is a great starting point.

Here are some things we discuss in this episode:

• Why people fail to plan for those expenses that can be foreseen.
• The importance of reviewing and updating beneficiary designations regularly.
• Are you taking the steps you need to keep your family from having to fight over assets?
• Is it better to transfer real estate while living or at death?
• The tax implications that come along with your estate.

The opinions voiced in The Money Knight podcast with Wade Chessman of Chessman Wealth Strategies are for general information only and are not intended to provide specific advice or recommendations for any individual. Past performance is no guarantee of future results. All indices are unmanaged and may not be invested into directly. Investing involves risk, including possible loss of principal. No strategy assures success or protects against loss. To determine what may be appropriate for you, consult with your attorney, accountant, financial or tax advisor prior to investing.

Investment advisory services offered through CWM, LLC, an Investment Advisor. Carson Partners, a division of CWM, LLC, is a nationwide partnership of advisors.

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Picture this: You're at your retirement party, finally ready to enjoy your golden years, but worries caused by some bad money habits have robbed you of fully enjoying the sweetness of the day. It happens to more people than you think, which is unfortunate because with just a little bit of modification, you can rid some of the worst money habits from your life and set yourself up for retirement success.

Today we want to highlight a few of these bad habits and hear from Wade on how we can make changes that will impact us over the long-term. We’re all human and we all going to make errors but it’s about how we handle ourselves in those situations. So we’ll take you through nine common mistakes that we see people make.

Here are some things we discuss in this episode:

• Why you don’t want to completely ignore your account statements.
• Don’t pretend like nursing home care is something you won’t need to deal with.
• Are you investing emotionally rather than strategically.
• Why people dip into emergency money to cover non-emergencies.

Get in touch with Chessman Wealth: https://www.chessmanwealth.com/

The opinions voiced in The Money Knight podcast with Wade Chessman of Chessman Wealth Strategies are for general information only and are not intended to provide specific advice or recommendations for any individual. Past performance is no guarantee of future results. All indices are unmanaged and may not be invested into directly. Investing involves risk, including possible loss of principal. No strategy assures success or protects against loss. To determine what may be appropriate for you, consult with your attorney, accountant, financial or tax advisor prior to investing.

Investment advisory services offered through CWM, LLC, an Investment Advisor. Carson Partners, a division of CWM, LLC, is a nationwide partnership of advisors.

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We came across an article recently that we thought was pretty interesting because it provided a different perspective on longevity. We always think about longevity in terms of savings and time but this discussion looks at it more as a complete framework.

So we want to spend a little time on this today and reflect on this idea of paying more attention to a variety of aspects that old age presents. As you’ll see in the article, the MIT expert breaks it down through these three simple questions:

1. How will I get an ice cream cone?
2. Who will you have lunch with?
3. How will you change your lightbulbs?

Join us to hear Wade’s view on longevity and why it’s a big part of helping you achieve a successful retirement.

Here are some things we discuss in this episode:

• What does Wade think about this idea of a more complete framework? (1:20)
• This week’s Kingdom Minute (8:37)

The opinions voiced in The Money Knight podcast with Wade Chessman of Chessman Wealth Strategies are for general information only and are not intended to provide specific advice or recommendations for any individual. Past performance is no guarantee of future results. All indices are unmanaged and may not be invested into directly. Investing involves risk, including possible loss of principal. No strategy assures success or protects against loss. To determine what may be appropriate for you, consult with your attorney, accountant, financial or tax advisor prior to investing.

Investment advisory services offered through CWM, LLC, an Investment Advisor. Carson Partners, a division of CWM, LLC, is a nationwide partnership of advisors.

Get in touch with Chessman Wealth: https://www.chessmanwealth.com/

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In the complex world of retirement planning, there are countless pitfalls one could fall into. In this episode, we've distilled it down to what we believe are the top 10 mistakes to watch out for. Avoiding these crucial missteps can have a significant impact on the success of your retirement plan. So, join us as we delve into these key issues and learn how to navigate them effectively when it's your turn to plan for retirement.

From not understanding your monthly expenses to ignoring the future tax implications of your retirement savings, Wade with cover a range of pitfalls to avoid. He’ll also emphasize the importance of reviewing and updating your retirement plan, accounting for long-term care in your plan, paying off high-interest debt before you retire, and much more. For our Kingdom Minute segment, Wade will dive into what the Bible says about co-signing for another person’s loan.

Here are the myths we break down in this episode:

• Not understanding what your monthly expenses are. (1:20)
• Not paying off high-interest debt before you retire. (4:39)
• Factoring in long-term care costs into your plan. (7:22)
• Ignoring the future tax implications of your retirement savings. (9:32)
• The Kingdom Minute: Co-signing for another person’s debt. (11:03)

Get in touch with Chessman Wealth: https://www.chessmanwealth.com/

The opinions voiced in The Money Knight podcast with Wade Chessman of Chessman Wealth Strategies are for general information only and are not intended to provide specific advice or recommendations for any individual. Past performance is no guarantee of future results. All indices are unmanaged and may not be invested into directly. Investing involves risk, including possible loss of principal. No strategy assures success or protects against loss. To determine what may be appropriate for you, consult with your attorney, accountant, financial or tax advisor prior to investing.

Investment advisory services offered through CWM, LLC, an Investment Advisor. Carson Partners, a division of CWM, LLC, is a nationwide partnership of advisors.

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Have you ever wondered if the Social Security system will run out of money before you retire? Or if claiming benefits as soon as you're eligible is the best decision for your financial future?

In this episode, we'll be debunking common myths about Social Security and answering the questions you've been curious about. This is an important part of most people’s plan and it’s essential to understand the benefit and how it best fits into your income plan.

Here are the myths we break down in this episode:

• The Social Security Administration will help you make the best decision about when to claim. (1:54)
• You won’t owe any taxes on your Social Security benefits. (3:56)
• Social Security will run out of money. (5:35)
• You should claim your benefits as soon as you’re eligible. (7:27)
• If you have a pension, you aren’t eligible for Social Security. (10:44)
• This week’s Kingdom Minute. (15:27)

The opinions voiced in The Money Knight podcast with Wade Chessman of Chessman Wealth Strategies are for general information only and are not intended to provide specific advice or recommendations for any individual. Past performance is no guarantee of future results. All indices are unmanaged and may not be invested into directly. Investing involves risk, including possible loss of principal. No strategy assures success or protects against loss. To determine what may be appropriate for you, consult with your attorney, accountant, financial or tax advisor prior to investing.

Investment advisory services offered through CWM, LLC, an Investment Advisor. Carson Partners, a division of CWM, LLC, is a nationwide partnership of advisors.

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We’ve talked many times about the importance of budgeting or having a spending plan, and our guest today is someone who helps people manage their money with an emphasis on faith.

Chad Clark is the executive director of Faith and Finance and they developed a budgeting program that also helps individuals be a good steward with what God has given them. It was designed with that in mind and it’s one of the reasons why we’ve really enjoyed using this system.

We asked Chad to join us on the show today to tell the story of FaithFi and explain their mission. Plus, we wanted him to explain the app, the different ways you can track your money, and why it can benefit anyone who needs to build a spending plan.

Here’s some of what we’ll talk about in this episode:

• The story of how Chad began working with faith and finance. (1:35)
• What does the bible have to say about budgeting. (4:52)
• What you need to know about the FaithFi app. (9:48)

Learn more about FaithFi: https://www.faithfi.com/manage

Get in touch with Chessman Wealth: https://www.chessmanwealth.com/

The opinions voiced in The Money Knight podcast with Wade Chessman of Chessman Wealth Strategies are for general information only and are not intended to provide specific advice or recommendations for any individual. Past performance is no guarantee of future results. All indices are unmanaged and may not be invested into directly. Investing involves risk, including possible loss of principal. No strategy assures success or protects against loss. To determine what may be appropriate for you, consult with your attorney, accountant, financial or tax advisor prior to investing.

Investment advisory services offered through CWM, LLC, an Investment Advisor. Carson Partners, a division of CWM, LLC, is a nationwide partnership of advisors.

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In today’s episode, we’re going to discuss the difference between estate planning and wealth transfer. Wade will reflect on Ron Blue’s talk at the Kingdom Advisor’s Conference and discuss some important takeaways. He will then dive into the complexities and benefits of wealth transfer and discuss the important questions you should ask yourself during the asset planning process.

Join us as Wade challenges you to think about passing on your assets thoughtfully. He will highlight the benefits of giving while you’re living and honoring God with the financial decisions that you make. He'll also discuss how to consider family dynamics and individual readiness when deciding to transfer wealth, ensuring that your choices benefit both your family and personal values.

Here’s some of what we’ll talk about in this episode:

• What are the differences between estate planning and wealth transfer? (0:57)
• Helping your heirs without harming them. (3:26)
• Three questions to ask yourself before transferring wealth. (5:44)
• Don’t use money to manipulate behavior. (9:34)

Listen to Episode 84 with Ron Blue

Get in touch with Chessman Wealth: https://www.chessmanwealth.com/

The opinions voiced in The Money Knight podcast with Wade Chessman of Chessman Wealth Strategies are for general information only and are not intended to provide specific advice or recommendations for any individual. Past performance is no guarantee of future results. All indices are unmanaged and may not be invested into directly. Investing involves risk, including possible loss of principal. No strategy assures success or protects against loss. To determine what may be appropriate for you, consult with your attorney, accountant, financial or tax advisor prior to investing.

Investment advisory services offered through CWM, LLC, an Investment Advisor. Carson Partners, a division of CWM, LLC, is a nationwide partnership of advisors.

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Are you a golfer? Even if you're not, the game of golf can teach us valuable lessons about retirement planning. For example, hitting a hole-in-one might be thrilling, but it won't necessarily guarantee your overall success. And just like you need different clubs in your golf bag to play a round, you need a well-balanced approach to your investments in retirement. But perhaps the most important lesson from golf is the value of having a caddy.

In retirement planning, a financial advisor can help you navigate the hazards and make the most of your financial "clubs." Wade has an even better perspective on this now that he’s playing a little golf. Tune in to this episode to learn more about how the game of golf can help you plan for a successful retirement.

Here’s some of what you’ll learn in this episode:

• The hole-in-one is exciting but does that one moment impact your overall success? (2:09)
• You need to have as many tools at your disposal for any situation that might arise. (5:41)
• Having someone to help guide you and provide feedback as you go. (8:49)

Get in touch with Chessman Wealth: https://www.chessmanwealth.com/ 

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Keyla Hernandez and Compassion International are not affiliated with CWM, LLC, and opinions expressed may not be representative of CWM, LLC.

As we have mentioned in recent emails, videos, and podcast episodes, Chessman Wealth Strategies is excited to be working alongside Compassion International to launch a new Compassion Sponsorship Center in Nicaragua. We are honored to have Keyla Hernandez, the Senior Manager of Program Support for Compassion International in Nicaragua, as a guest on our podcast today to provide valuable insight into this powerful mission and the remarkable impact it has already had.

In this episode, Keyla shares how she came to be involved with Compassion International and sheds light on the important work the organization is doing in Nicaragua. Her firsthand experience offers a unique perspective on the transformative effect that sponsorships have had in her country. Join us as we talk more about the center that Chessman Wealth Strategies and its clients are launching and learn more about Compassion’s incredible plans for the future.

Here’s some of what you’ll learn in this episode:

• Keyla tells her story and how she came to be involved with Compassion International. (2:26)
• Keyla shares some background on the needs in Nicaragua and the work Compassion is doing. (3:51)
• What is a Compassion Center and why are they so important? (8:05)
• Why is it important to sponsor this launch? (10:01)
• Keyla shares specific details about the center that Chessman Wealth Strategies is launching and the impact this location is making. (12:27)
• Compassion’s vision for Nicaragua. (16:33)

Learn more and sponsor this mission:

https://www.compassion.com/donate/chessmansponsorshiplaunch.htm?utm_source=purl&utm_medium=purl&utm_campaign=chessmansponsorshiplaunch-650028&referer=650028

Get in touch with Chessman Wealth: https://www.chessmanwealth.com/

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Beneficiaries are an important part of a well-thought-out retirement plan. While it may seem like naming beneficiaries is a simple task, there are some areas in this process that are easy to overlook, which could cause major complications down the road. On this episode, we’ll address five common beneficiary mistakes. We’ll bring these mistakes to your attention and explain why these could damage your retirement if you’re not careful.

Join us as we talk about the importance of coordinating your beneficiary to your will and discover why it’s essential to keep your beneficiaries up to date as your life changes. We’ll also cover the complications of naming minors as beneficiaries, the importance of designating a successor, and more. Forgetting about these steps could completely spoil an otherwise well-done retirement plan.

Here’s some of what you’ll learn in this episode:

• The complications with naming minors as beneficiaries. (1:41)
• Why it’s important to coordinate your beneficiary designation and your will. (3:26)
• How failing to designate successor beneficiaries could cause potential complications. (7:34)
• Why you shouldn't name your estate as a beneficiary. (9:08)
• Making sure the information on your beneficiary is correct. (10:17)
• Changing beneficiaries when your life situation changes. (10:54)

Get in touch with Chessman Wealth: https://www.chessmanwealth.com/

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After being discussed in Congress for nearly a year and a half, the SECURE Act 2.0 passed in January. Listen to today’s episode to see what you need to know and learn four ways the new changes might impact you.

All the changes that came down in this new bill likely won’t affect your retirement but you want to be aware of everything because there could be some planning opportunities to hop on this year. This show will identify four that most people we work with will want to know about and we’ll tell you why they’re important.

Here’s some of what you’ll learn in this episode:

• The RMD age has moved back once again from 72 to 75. What does this mean for your plan? (3:01)
• The new catch-up contribution provisions will allow you to save more before retirement.  (5:42)
• You’ll now have the opportunity to move money from a 529 plan to a Roth IRA and take advantage of the tax benefits. (7:50)
• You student loan payments could qualify you for a 401k company match. (10:08)
• The other provisions Wade is paying close attention to. (13:00)

Get in touch with Chessman Wealth: https://www.chessmanwealth.com/ 

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Rob Blue and Kingdom Financial Advisors are not affiliated with CWM, LLC, and opinions expressed may not be representative of CWM, LLC.

We talk about the idea of financial freedom all the time on this show but maybe we should be looking at it through a slightly different lens. As today’s guest points out, financial freedom isn’t something you can feel. What we really should strive to achieve is financial contentment.

Ron Blue is the founder of Kingdom Advisors and we’re excited to welcome him onto the show to talk about this idea of become financially content. It’s a guiding principle he’s followed throughout his personal and professional life, and we want to learn more about his philosophy on money and the role it plays in our faith. We also explore the importance of giving and why people aren’t inclined to give more despite their beliefs.

Here’s some of what you’ll learn in this episode:

• What does it mean to have true financial freedom?(1:18)
• The principles you need to follow to become financially free? (4:05)
• Giving and the spiritual transformation. (8:58)
• When you can answer the question, ‘How much is enough?’ it frees you up to give above and beyond. (14:22)
• How do we work through the obstacles that prevent us from giving more? (19:25)

Learn more about our guest: https://www.ronblue.com/

Get in touch with Chessman Wealth: https://www.chessmanwealth.com/

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Money and faith are often more aligned than we think, and that’s led more and more people to search for financial guidance that aligns with their beliefs and helps to marry those two important aspects of life.

That’s why being a Certified Kingdom Advisor has always a designation that Wade holds in high regard and why we make that a central focus on the podcast. We’re going even deeper into that conversation by welcoming on Rob West, CEO of Kingdom Advisors. It’s a conversation we’re excited to share because it will provide a deeper understanding of the goals and mission for Kingdom Advisors.

Financial professionals sit in an incredibly leveraged position in the life of the clients because money conversations are hard conversations. That’s another reason why we feel so passionate about this approach to planning and hope to give you more insight into that process on this episode.

Here’s some of what you’ll learn in this episode:

• Rob’s history with Kingdom Advisors and the role they play with clients. (1:18)
• Who created the idea of a Kingdom Advisor and what it takes to achieve the designation. (4:48)
• More and more people are seeking out this financial advice tied to faith. (6:53)
• Why the change from MoneyWise to FaithFi? (10:35)
• Why you need to give every dollar an aim. (14:26)
• What are the top issues and questions is he getting on his radio show? (18:52)

Learn more about our guest: https://kingdomadvisors.com/resources/speaker/37

Get in touch with Chessman Wealth here: https://www.chessmanwealth.com/podcast/

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Too many folks misunderstand bonds, how they work, and what role they play in a proper financial plan. We’ll address some of those bond related issues on today’s show.

Here’s some of what you’ll learn in this episode:

• What is a bond? (2:24)
• The difference between owning a bond vs a bond fund. (4:36)
• What is the relationship between interest rates and bond values? (8:46)
• Can you consider bonds to be a safe part of your portfolio? (12:17)
• You need to understand the risk that bonds hold before you invest. (13:50)

For more, visit us online: https://www.chessmanwealth.com/ 

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Inflation continues to be a big story. In 2022, it went through the roof- we were told it would be transitory, but that ship has sailed.

Though gas prices are down slightly, they are still significantly higher than they were a few years ago. In this episode, we will discuss how inflation is affecting the world right now and will share some perspectives that you may not have considered, as well as recent contribution changes.

Here’s some of what you’ll learn in this episode:

• Listen here to hear our thoughts on inflation. (0:33)
• Is there a positive side to inflation? You might be surprised at the answer. (2:35)
• Is a big increase in social security a good thing? (7:17)
• This episode’s Kingdom Minute: Cosigning on loans. (12:16)

For more, visit us online: https://www.chessmanwealth.com/ 

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We all make poor decisions from time to time, but we want to be sure to make the right ones when the stakes are high.

In this episode, we will explore some of the things you should be thinking about to make smart financial decisions when you encounter some of the most significant events in your life.

Here’s some of what you’ll learn in this episode:

• What to consider when going through a job change. (1:40)
• How your advisor can help you through a divorce. (3:23)
• Here are some decisions you may have to make with an inheritance. (6:49)

For more, visit us online: https://www.chessmanwealth.com/ 

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For anyone being forced into retiring earlier than they planned (or at least being presented with that option), we’ve found that there are often some common questions that they’re asking.

In this episode, we will answer those questions and go over some scenarios that you may want to consider.

Here’s some of what you’ll learn in this episode:

• Should you accept a buy-out offer from work? (0:59)
• Should you take your pension in a lump sum or in payments? (3:41)
• Is it tough to get a job around retirement age? (8:20)
• Discipline might not sound fun, but without it, chaos ensues. (10:45)

For more, visit us online: https://www.chessmanwealth.com/ 

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Just like the lights on your dashboard can indicate if something is wrong with your car (like low tire pressure or leaking oil), there are indicators in your financial life that might point out that you have a problem that needs to be addressed.

Let’s talk about some of the most common warning signs we see from pre-retirees and discuss what action you might need to take.

Here’s some of what you’ll learn in this episode:

• Do you know what it costs to fund your lifestyle? (2:04)
• Are you more focused on net worth than generating an income? (3:25)
• Have you prepared for long-term care? (9:09)

For more, visit us online: https://www.chessmanwealth.com/ 

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It’s a somber day for those using the Mvelope budgeting program we have talked about before with clients. They went out of business. The hunt for new budgeting tools inspired us to share some budgeting tools and our thoughts on them.

Do you know where you are spending your money? Even if you think you do, it could be time to revisit your budget and see if there are any expenses or splurges you’re missing. Listen to learn about the budgeting tool we are going to try out and how it might help you.

Here’s some of what you’ll learn in this episode:

• The downside to ‘Every Dollar’, by Dave Ramsey. (4:48)
• The program we signed up for; A Biblically-based ministry called ‘Money Wise’. (7:04)
• How using a budgeting program can make a huge difference for you. (9:24)

For more, visit us online: https://www.chessmanwealth.com/ 

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Being a good advisor isn’t about winning a popularity contest or just saying the same things that everyone else in the industry says. It’s about giving the best advice that you can for each individual situation.

On today’s show, we’re going to peel back the curtain to discuss some areas where a good financial advisor’s opinions might go against the grain with mainstream ideas in the industry.

Here’s some of what you’ll learn in this episode:

• What is the appropriate amount of risk for a pre-retiree? (2:00)
• How should you handle debt? Is all debt bad? (6:00)
• Are annuities good financial tools? (8:17)
• How much cash should you keep in the bank? (10:57)

For more, visit us online: https://www.chessmanwealth.com/ 

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Sometimes it’s important to dive into the process behind what we do, so you know what to expect with Smart Choices Wealth Management Solution. Our process didn’t happen by accident. We have very intentional steps we take through the financial planning process.

In this episode, you will learn about the services we offer, and how we collaborate and brainstorm with other professionals to your benefit. Learn about each step in our process so you can determine if we may be a good fit for you.

Here’s some of what you’ll learn in this episode:

• How the Discovery Meeting enables you to make smart choices. (2:23)
• The Smart Choices Strategy Meeting will set you up with a financial plan, without committing to implementation. (3:28)
• The Advanced Planning Meeting utilizes various professionals in different areas of expertise. We share your case with them anonymously and get feedback on other areas of financial planning. (5:14)
• How we go about monitoring progress. (6:26)

For more, visit us online: https://www.chessmanwealth.com/ 

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If you have listened to our podcast before, you know we are advocates of giving. Today we have Jim Kirk with us. We will talk about an organization we have been supporting and show you how you can give smarter.

Compassion International is an organization that allows you to sponsor children globally experiencing poverty. Giving through compassion can be as simple as a small monthly donation. We would like to focus on how you can contribute assets to charity to serve them more effectively while helping yourself simultaneously.

Here’s some of what you’ll learn in this episode:

• Who Jim is and how he got involved with Compassion International. (0:48)
• What Compassion International is. (2:50)
• Ways you can broaden your horizons in giving, by donating assets. (7:14)
• You can give smarter by benefiting the organizations you support (and yourself) more efficiently. (10:22)
• Setting up a way to donate to a charity after you pass away. (14:05)

Learn more about Compassion International: https://www.compassion.com/

For more, visit us online: https://www.chessmanwealth.com/ 

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We’re all guilty of putting off things longer than we should, but doing it with your money could create some serious problems.

People have many reasons for procrastinating when it comes to putting a retirement plan together. Let’s explore some of those excuses and why they can be dangerous, and talk about how to overcome them.

Here’s some of what you’ll learn on this episode:

• Why planning has become much more difficult and important than it was for your parents. (2:07)
• Who should you be listening to when it comes to financial planning? (4:57)
• How we help someone that stresses out when it comes to money. (7:32)
• How our process helps people take that first step towards financial planning. (10:01)
• This week’s Kingdom Minute on a great new resource we found. (14:28)

For more, visit us online: https://www.chessmanwealth.com/ 

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Chessman Wealth Strategies began back in 2004 when Wade Chessman left a large national firm to go independent.

There were a few different reasons for the move, but it ultimately came down to the inability to serve clients in the way we felt was in their best interest. So nearly 20 years later, we’ll take a look back on how Wade started in the financial services industry, the issues he quickly discovered, and the benefits of now being able to work independently.

Here’s some of what you’ll learn on this episode:

• How a co-op program in college led him to financial planning. (2:27)
• The biggest issues Wade discovered while working at a national firm that he didn’t agree with. (4:16)
• Why Christmas parties became a reason for Wade going independent. (8:33)
• What advice would we give other advisors considering the move to independence? (12:19)

For more, visit us online: https://www.chessmanwealth.com/ 

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It’s no secret the stock market is in turmoil. We’re in a bear market and the R-word (recession) is getting thrown around daily. So, what can you do to survive bear markets like the one we’re in now? We’ll discuss some things you should keep in mind as you navigate through this down period.

Here’s some of what you’ll learn on this episode:

• Why a bear market could potentially be good news for you. (1:48)
• Making large bets to either into or out of the market doesn’t work out over time. (3:50)
• How and why we factor in market volatility ahead of time when we’re building a plan for someone. (6:54)
• You don’t need all the money right now which means you shouldn’t be worrying about your portfolio when you’re in the moment. (9:43)
• The danger of partiality on this week’s Kingdom Minute. (11:48)

Make sure you work with a financial professional to help you evaluate your investments, manage your risk, and make sure you’re properly diversified.

For reference:

S&P 500 - A capitilization-weighted index of 500 stocks designed to measure performance of the broad domestic economy through changes in the aggregate market value of 500 stocks representing all major industries.

NASDAQ Composite Index - The NASDAQ Composite Index includes all domestic and international based common type stocks listed on The NASDAQ Stock Market. The NASDAQ Composite Index is a broad based index.

Important Links:

Chessman Wealth Website: https://www.chessmanwealth.com

Call: 214-572-2120

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In some ways, retirement planning was easier for past generations. Let’s explore how a good financial advisor helps people overcome the additional challenges of today. Our parents and grandparents may not have had to face these things, so just relying on the experiences of family members might not be enough to help us achieve our own financial success.

Here’s some of what you’ll learn on this episode:

• Retirees today don’t have near as much guaranteed income as generations before us so we carry more of that responsibility now. (1:35)
• We’re living longer on average and have to plan for a longer retirement to cover all of our expenses. (5:04)
• Why all of the information we can access isn’t necessarily a good thing when we’re doing our own financial planning. (8:52)
• The danger of misunderstanding our identity when it relates to money on this week’s Kingdom Minute. (13:32)

If you haven’t taken a serious look at your plan and addressed these changes to retirement, we encourage you to take that next step today and set up a time to meet with an advisor.

Important Links:

Chessman Wealth Website: https://www.chessmanwealth.com

Call: 214-572-2120

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On this episode, we’ll try to pick sides of some important financial debates. From bonds to life insurance, credit card debt to starting Social Security, we’ll propose several different topics to see which sides of the debates you and your advisor should probably fall on.

This is the second part of the discussion and it wraps up the debate on four more topics that we work on all the time. Plus, this week’s Kingdom Minute talks about defining wealth and the idea of being rich.

Here's what we discuss on this episode:

1:03 – Annuities are a rip off

2:54 – You’ll be in a lower tax bracket in retirement so it’s best to defer now

4:54 – It’s better to buy mutual funds than owning individual stocks

6:05 – You should start Social Security as early as possible

8:27 – Kingdom Minute

Important Links:

Chessman Wealth Website: https://www.chessmanwealth.com

Call: 214-572-2120

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On this episode, we’ll try to pick sides of some important financial debates. From bonds to life insurance, credit card debt to starting Social Security, we’ll propose several different topics to see which sides of the debates you and your advisor should probably fall on.

Since there’s a lot to discuss, we’re going to break up this conversation into two parts. Join us as we weigh in on this first group of financial topics and we’ll also discuss the dangers of wealth on this week’s Kingdom Minute.

Key topics to listen for:

1:30 – Always pay off your house as soon as you can

2:52 – Individual bonds are better than bond funds

5:03 – No one needs life insurance once they’re retired

7:18 – Better to have a fee-based advisor than a commission-based advisor

9:13 – Kingdom Minute

Important Links:

Chessman Wealth Website: https://www.chessmanwealth.com

Call: 214-572-2120

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There are plenty of external factors that often negatively influence our chances of having a successful retirement. But often, failure comes from within. On this episode, we’ll talk about some of the common ways people get in their own way when it comes to financial planning and what you can do to change that. 

What we discuss in this episode: 

0:30 – Fear and greed causing us to buy and sell

3:00 – Making investment choices just to save taxes

4:59 – Sitting in cash for too long

6:47 – Overthinking every decision

7:41 – Blindly following financial advice

10:30 – Kingdom Minute

Important Links:

Chessman Wealth Website: https://www.chessmanwealth.com

Call: 214-572-2120

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The goal for everyone we work with is to reach that day where you become financially independent. It opens up a world of opportunity to do what you want and what you love. Before you get there, however, you want to make sure everything is in order. 

Today we've put together a short checklist of the most important things you can do as you're counting down the days to financial independence. This is a nice mix of financial, lifestyle, and health items so jot them down and let's get to work.

What we discuss in this episode: 

0:38 - Our topic today

1:15 - Get healthy and stay healthy

2:40 - How will you spend your free time?

5:09 - Post-work career

6:27 - Saving more

7:27 - Paying down debt

8:44 - Re-assessing risk

10:54 - Kingdom Minute

Important Links:

Chessman Wealth Website: https://www.chessmanwealth.com

Call: 214-572-2120

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Getting older isn’t something all of us like to celebrate and birthdays lose a lot of the luster they had when we were younger, but that doesn’t mean there’s nothing to look forward to as you arrive at retirement.

There are certain milestone ages that present new retirement planning opportunities that everyone needs to be aware of and ready for. On this episode, we’ll look at the most important birthdays as you approach retirement and cover the exact things you should be checking off your to-do list at each age.

What we discuss in this episode: 

1:08 - Celebrating birthdays

1:45 - Age 50

3:35 - Age 55

4:52 - Age 59.5 

5:26 - Age 62

7:00 - Age 65

7:53 - Age 66 or 67

9:01 - Age 70.5 

10:55 - Age 72

12:47 - Kingdom Minute

Important Links:

Chessman Wealth Website: https://www.chessmanwealth.com

Call: 214-572-2120

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The financial industry is filled with all types of complicated terms, acronyms, and expressions, which can make it difficult to follow along when you’re reading or watching news on the markets. We want to take this episode and use it to clear up some of the jargon you’re likely hearing more often in our current environment of inflation and uncertainty.

We won’t get into the weeds and bring you up to speed on things like P/E ratios. Instead, the hope is that you’ll be a little more comfortable with the investment jargon surrounding the markets we’re navigating right now.  

What we discuss in this episode:

2:15 – Bear vs Bull Market

6:19 – Investing during different markets  

7:45 – Recession

10:00 – Volatility

13:33 – Capital Gains/Losses

16:35 – The Kingdom Minute

Important Links:

Chessman Wealth Website: https://www.chessmanwealth.com

Call: 214-572-2120

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Most people, when trying to plan their retirement, have to guess the answers to some important questions. It’s one of the reasons why you’re going to put yourself in a stronger position when you work with an experienced advisor that can use experience and data to provide you with answers.

Today, we’ll talk about some of the questions that people are most commonly guessing at and tell you what might go wrong if you’re relying on the hope plan.

What we discuss in this episode:

1:00 – Finished a triathlon

2:29 – Monthly income needs in retirement

5:13 – Covering major purchases

7:02 – Inflation  

10:21 – Healthcare costs

13:20 – Kingdom Minute

Important Links:

Chessman Wealth Website: https://www.chessmanwealth.com

Call: 214-572-2120

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Retirement is looking a lot different today than for previous generations. On today’s episode, we’re going to break down a USA Today article that breaks down 3 murky issues that increase retirement planning’s degree of difficulty. Are these issues really that threatening? If you're concerned, what should you be doing to address them?

Millions of Americans are unfortunately lacking the very basic knowledge they need to reach financial independence. The article explains only 26% of workers understood the correct level of income growth needed to offset inflation. Similarly, most folks are confused about how much Social Security will cover. Considering this is one of the cornerstones of most of our retirement we need to know the exact numbers we can expect. The same study showed that half of Americans don’t know how much they can take out of an investment account in order to have it last their lifetime. We’ll discuss these murky issues and how we can better understand these essential retirement planning components.

USA Today Article: https://www.usatoday.com/story/money/personalfinance/retirement/2022/02/28/retirement-3-issues-making-planning-harder/49859935/

What we discuss in this episode:

1:12 – How are you doing?

2:13 – USA Today Article

3:25 – Income growth to offset inflation

6:23 – How much Social Security will cover

8:44 – Taking investment money out

11:05 – How much you’re going to spend

14:22 – Introducing the Kingdom Minute!

Important Links:

Chessman Wealth Website: https://www.chessmanwealth.com

Call: 214-572-2120

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The Chessman Wealth Strategies approach has always been about helping clients and their families make smart decisions when it comes to money. That happens in every aspect of the planning process, including working with the children to ensure that they know what they need to about their parents’ estate.

Today we want to explain the Smart Generations program in a little more detail and help make you aware of this opportunity we provide all of our clients. It’s not something everyone needs to use, but we’ve found that it brings a certain peace of mind to know that your parents are well taken care of and that’s what we try to do with Smart Generations.

What we discuss in this episode: 

0:54 – Taco Bell subscription service

3:51 – Background on Smart Generations

6:29 – Giving children a chance to understand more

7:13 – Do most clients take advantage of this?

7:57 – Do children take an interest?

8:44 – How to get started

9:21 – Where does this happen in the process?

Important Links:

Chessman Wealth Website: https://www.chessmanwealth.com

Call: 214-572-2120

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The new year is always a good time to evaluate your plan and assess the areas where changes could impact your goals in 2022. Wade will take you through the biggest areas we’re watching at Chessman Wealth and what adjustments might need to be made to your financial plan moving forward. From inflation to taxes to Roth contributions, we’ll bring you up to speed on what’s new for 2022.

What we discuss in this episode: 

1:11 – Childcare Tax Credit incorrect statements

3:08 – Inflation

4:33 – Tax changes

5:38 – Annual exclusion for gifts

6:28 – Roth contributions

8:49 – How we handle changes with clients

10:44 – Final thoughts

Important Links:

Chessman Wealth Website: https://www.chessmanwealth.com

Call: 214-572-2120

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If we could predict everything in life, planning for retirement and the future would be a lot easier. We don’t know when the next stock market crash will take place, but we know it will happen at some point. You’ll want to make sure you have the right risk tolerance and implement strategies to protect your portfolio. What will healthcare costs look like in the future? We can assume they’ll be higher, but we don’t know by how much. It’s important to calculate this into your plan.

Unfortunately, there are a lot of life events we can’t predict. Your retirement plan has to account for a lot of different factors. We want you to be prepared no matter what your future looks like. On today’s show, we’ll discuss areas in your retirement plan you can’t possibly predict, but how we can plan for them anyway.

What we discuss on this episode:

1:38 – How’s Wade doing?

2:48 – Stock market

5:25 – Healthcare costs

7:07 – Tax rates

9:54 – Longevity

11:54 – Being prepared

More Resources:

Risk Survey: https://www.chessmanwealth.com/#survey-section

Retirement Planning Quiz: https://www.chessmanwealth.com/retirement-planning-quiz/

Important Links:

Chessman Wealth Website: https://www.chessmanwealth.com

Call: 214-572-2120

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If you have listened to the show, you may have heard us point out a couple of these items that distinguish Wade’s business from others. We will go over these points in-depth on today’s show and discuss why they are notable. Wade and his colleague advisors are all Certified Kingdom Advisors, meaning they have additional training in biblical finance. We can help our clients live out their faith with their financial decisions. This is important to a lot of people.

Part of the Carson Group, Chessman Wealth, has a lot more resources with the personal touch of an independent firm. On today’s episode, we’ll discuss the planning process we take, starting as a new client, and answer a couple of mailbag questions.

What we discuss on this episode:

0:45 – How’s it going?

1:56 – Certified Kingdom Advisor

3:18 – Aligning your faith

3:56 – Carson Group

5:21 – The planning process

6:42 – The first meeting

8:16 – Mailbag: “How much is too much company stock?”

10:05 – Mailbag: “I’m 56, I want to retire early, what can I do?”

More Resources:

Risk Survey: https://www.chessmanwealth.com/#survey-section

Retirement Planning Quiz: https://www.chessmanwealth.com/retirement-planning-quiz/

Important Links:

Chessman Wealth Website: https://www.chessmanwealth.com

Call: 214-572-2120

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You’ve probably heard the word fiduciary but what does it actually mean and what’s the importance of this title? A fiduciary has to put the needs of their clients before their own. They must operate with full transparency.

Not all financial professionals are held to this standard, so it’s important to know whether your advisor is a fiduciary. On today’s episode, we’ll explore why it’s an important standard for you to consider when choosing a financial advisor. Wade will also answer two mailbag questions about part-time work in retirement and mortgage payments.

What we discuss on this episode:

1:39 – Does Wade have any resolutions for 2022?

3:16 – What is the definition of a fiduciary?

6:19 – A fiduciary can help you customize retirement

9:17 – Is it OK to work with an advisor that is not a fiduciary?

10:59 – Mailbag: “Should I work full-time for 2 more years or part-time for 4?”

12:28 – Mailbag: “Should we pay our mortgage twice a month or once a month?”

More Resources:

Risk Survey: https://www.chessmanwealth.com/#survey-section

Retirement Planning Quiz: https://www.chessmanwealth.com/retirement-planning-quiz/

Important Links:

Chessman Wealth Website: https://www.chessmanwealth.com

Call: 214-572-2120

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Social security is one of the main pillars of retirement planning. However, many people do not realize how their benefit gets calculated. You need to have a plan when it comes to Social Security. Especially for a couple, maximizing your benefits is important.

This can be a complicated topic, but we’ll discuss how they break up the percentages of your income and how inflation impacts these numbers on today’s show. Wade will also discuss the primary insurance amount and how you can track your benefit online. If you are looking to learn more always feel free to reach out to Wade!

What we discuss on this episode: 

0:29 – How’s Wade doing?

1:52 – How is your benefit calculated?

5:13 – Percentage of your income

6:49 – Primary insurance amount

10:33 – Should you track your benefit online?

More Resources: 

Risk Survey: https://www.chessmanwealth.com/#survey-section

Retirement Planning Quiz: https://www.chessmanwealth.com/retirement-planning-quiz/ 

Important Links:

Chessman Wealth Website: https://www.chessmanwealth.com

Call: 214-572-2120

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We see a lot of people who aren’t getting the kind of advice and service from their financial advisor that they should be. So today, we will be discussing some general scenarios where your advisor may be dropping the ball. If your advisor is hyper-focusing on investments and not the details of your overall plan it may be time to rethink your relationship with them.

They should be reviewing your taxes and how it plays into your overall retirement plan. An advisor should be transparent about the fees and costs of their services and the investments they want you to invest in. Watch out for advisors not doing comprehensive retirement income planning or are ignoring legacy plans. Overall, you want to make sure your advisor is not glossing over important details. They need to understand your financial goals and take those into account when getting things done.

What we discuss on this episode:

1:34 – Tax planning

3:12 – Fees and costs

4:43 – Retirement Income

6:51 – Clarifying your money’s job

8:19 – Reviewing your legacy plans

More Resources:

Risk Survey: https://www.chessmanwealth.com/#survey-section

Retirement Planning Quiz: https://www.chessmanwealth.com/retirement-planning-quiz/

Important Links:

Chessman Wealth Website: https://www.chessmanwealth.com

Call: 214-572-2120

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Taxes may not be the most exciting conversation, but they are important! Today, we are talking about tax planning and why it’s important to retirement planning. Tax planning is part of our process and it’s not just something we do once a year. These strategies are important in keeping your overall plan efficient.

We look at both the short-term and long-term strategies. As we reach the end of the year, we really want to think about tax planning. There are a lot of opportunities to maximize your tax efficiency whether you use conversions or charitable giving. We will be discussing tax strategy, deductions, end-of-year tax planning, and more. Wade will also answer two mailbag questions about taxes on retirement accounts and catch-up contributions.

What we discuss on this episode:

1:17 – Thanksgiving plans

3:15 – Tax planning year-round

6:09 – Deductions you can take today

6:48 – Things that will help you in the future

7:46 – End of year tax planning

9:00 – Opportunities towards the end of the year

10:28 – How do taxes impact retirement?

11:55 – Taxes in the future

13:06 – Mailbag: Can I get out of paying taxes on my 401(k) and IRA?

15:27 – Mailbag: Can I catch up on my 401(k) and IRA?

More Resources:

Risk Survey: https://www.chessmanwealth.com/#survey-section

Retirement Planning Quiz: https://www.chessmanwealth.com/retirement-planning-quiz/

Important Links:

Chessman Wealth Website: https://www.chessmanwealth.com

Call: 214-572-2120

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As our businesses grow it's important to stay true to our core values. On today’s episode, we are joined with Jim Fite to discuss his business Judge Fite Company and its growth through the Dallas, Texas area. Becoming an agent at 18 made him the youngest real estate agent in Texas history. Although college wasn’t for him, his father instilled the importance of continued education in him. This is something he continues to share with his team today.

He soon bought his parent's business with his sister. Together they have grown a successful real estate business with intentionality and strategy. Staying true to their core values has always been the cornerstone of their business. We will discuss his worst and best moments in business, the advice he’d give others, the current housing market, and more.

What we discuss on this episode:

0:38 – Introducing Jim Fite

1:31 – Youngest Real Estate Professional in Texas

4:56 – What drew him to Real Estate?

7:35 – Becoming an agent at 18

10:01 – A generational business

12:51 – Real estate professionals

15:33 – Strategic planning

17:58 – Worst and best moments

21:10 – Advice for others

23:03 – Current housing market

26:29 – Judge Fite Charitable Foundation

29:43 – Finding Jim Fite online

Learn more about Jim and Judge Fite Company: https://century21judgefite.com/

More Resources:

Risk Survey: https://www.chessmanwealth.com/#survey-section

Retirement Planning Quiz: https://www.chessmanwealth.com/retirement-planning-quiz/

Important Links:

Chessman Wealth Website: https://www.chessmanwealth.com

Call: 214-572-2120

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Estate planning is overwhelming, but it is a necessary part of our overall financial plan. Having a plan makes it a lot easier on our families when we pass away or become incapacitated. Continued communication is ideal, everyone involved in the plan needs to be on the same page. On today's episode, we are talking about Wade's recent seminar "Who Will Inherit the Mess?" and the key takeaways from his lecture about estate planning.

What we discuss on this episode: 

0:30 – Wade’s seminar on estate planning

1:52 – What exactly is estate planning?

3:51 – People’s desires and values

5:35 – Communicating with others

7:51 – Smart generations meeting  

More Resources: 

Risk Survey: https://www.chessmanwealth.com/#survey-section

Retirement Planning Quiz: https://www.chessmanwealth.com/retirement-planning-quiz/ 

Important Links:

Chessman Wealth Website: https://www.chessmanwealth.com

Call: 214-572-2120

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We want couples to be on the same page when it comes to financial planning and retirement. Despite any individual differences it’s important to plan together for the success and growth of your retirement plan.

You and your spouse should be on the same page when it comes to risk management and how you will spend your investment money once in retirement. Planning out your Pension and Social Security decisions will be essential to your plan. So, today we are going to be talking about some financial mistakes that couples should be aware of and how to avoid them.

What we discuss on this episode:

0:27 – Catching up with Wade

3:00 – Pension spousal benefit

4:34 – Social Security claims

6:05 – How you want to spend your retirement

8:17 – Coordinating accounts

9:47 – Risk profile

11:19 – Being on the same page

12:38 – Mailbag: Do I have to take RMDs?

13:59 – Mailbag: Will I run out of money?

More Resources:

Risk Survey: https://www.chessmanwealth.com/#survey-section

Retirement Planning Quiz: https://www.chessmanwealth.com/retirement-planning-quiz/

Important Links:

Chessman Wealth Website: https://www.chessmanwealth.com

Call: 214-572-2120

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Financial planning often focuses on the accumulation of wealth. But what about spending after we retire? What happens when we get to the decumulation phase of retirement? Spending will eventually happen whether that comes in the form of taxes or something else. Having a plan will help mitigate seen and unforeseen financial risks that may occur after retirement. Replacing our paycheck may sound daunting, but having a plan will be an essential part of establishing a stable financial future. On today‘s episode we discuss 5 key things you must know about decumulation to successfully retire and become financially independent.

What we discuss on this episode:

1:00 – Catching up with Wade

2:35 – What is decumulation?

3:50 – Lack of support and resources

6:20 – The fear of spending

8:52 – Numerous risk

11:05 – Tax consequences

12:55 – Leverage your lifetime income

16:30- Mailbag: financial planning and divorce

More Resources:

Risk Survey: https://www.chessmanwealth.com/#survey-section

Retirement Planning Quiz: https://www.chessmanwealth.com/retirement-planning-quiz/

Important Links:

Chessman Wealth Website: https://www.chessmanwealth.com

Call: 214-572-2120

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Your advisor will always be available to provide information and data about financial planning, but how much do you actually know about them beyond the financial plan you’re building? On this episode of the podcast, we’ll pull back the curtain a bit and let Wade share what matters most for him in this industry. From his influences to his frustrations, we’ll learn more about Wade today.

What we discuss on this episode: 

1:45 – School starting back

3:11 – Who influenced you early in life?

6:40 – What led you to this career?

8:04 – Influences now

9:40 – Frustrations he has within planning

12:27 – Most gratifying part of the job

14:47 – Mailbag question about retirement withdrawals

For additional financial resources, visit us online at http://chessmanwealth.com 

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Wayne Walker is the Founder and Executive Director of OurCalling. A nonprofit organization dedicated to aiding the homeless community by giving them the tools and resources to transform their lives. OurCalling recognizes homelessness as a symptom of a deeper problem. The organization not only offers a hot meal and bed, but therapy relating to trauma, substances, and abuse. Wayne shares his passion for the work he is doing and how God has aided him in this venture.

About our guest: https://www.ourcalling.org/about/

What we discuss on this episode:

0:52 – Welcome in Wayne

1:46 – Wayne’s background

4:02 – Story behind the business

6:23 – The challenges to a non-profit

8:14 – Stats about homelessness in Dallas

12:56 – The ‘why’ behind the business

14:56 – What action can people take

16:32 – Special calling for those in need

19:07 – Business principles

21:28 – The lows

24:31 – Highlights

26:13 – How to support OurCalling

Show References:

https://www.dallasnews.com/business/economy/2021/06/06/one-region-two-economies-as-dallas-fort-worth-aims-for-a-record-recovery-the-pandemic-deepens-the-divide-between-haves-and-have-nots/

https://dallas.culturemap.com/news/city-life/01-24-19-dallas-fort-worth-worlds-wealthiest-places-wealth-x-mini-millionaires/

Important Links:

Chessman Wealth Website: https://www.chessmanwealth.com

Call: 214-572-2120

***Wayne Walker is not affiliated with CWM, LLC and opinions expressed by the presenter

may not be representative of CWM, LLC.

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Wes McDaniel is the Founder and Chief Executive Officer of Ideal Impact. Ideal Impact was founded for one purpose - to give back. Wes and his team of energy experts began working with Christian ministries in 2009 with the vision of reclaiming $1 Billion for these ministries to better accomplish their mission. Ideal Impact reached that goal. In 2015, Ideal Impact expanded their reach to Texas school districts and colleges with a new goal of $10 Billion for Christian ministry and education. Wes discusses some of the ups and downs that have come along with this career path, the future of the business, and his advice for business owners.

About our guest: https://www.idealimpactinc.com/who-we-are/board/

What we discuss on this show:

0:33 – Welcome in Wes

1:06 – Background on his business

2:53 – What lead him to start Ideal Impact

5:30 – Biggest challenges he’s faced

9:38 – Future of the business

11:25 – Best moments he’s had

14:39 – Advice he’d give business owners

15:48 – Book recommendations

17:15 – Advice he would give himself looking back

Important Links:

Chessman Wealth Website: https://www.chessmanwealth.com

Call: 214-572-2120

***Wes McDaniel is not affiliated with CWM, LLC and opinions expressed by the presenter

may not be representative of CWM, LLC.

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Ironically, life insurance is a young man’s game. The perception among many people is that your need for life insurance dramatically decreases and perhaps becomes completely unnecessary as you age. Is that really the case? On this episode, let’s explore some ins and outs of life insurance and its various uses.

What we discuss on this episode: 

0:50 – How much do you work with life insurance?

2:16 – Why life insurance gets a bad rap?

3:40 – Determining whether you need life insurance

5:44 – How much do I need?

6:50 – Risks of having too much coverage?

7:39 – Advanced strategies

10:39 – Different policies

Important Links:

Chessman Wealth Website: https://www.chessmanwealth.com

Call: 214-572-2120

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The word diversification gets used a lot in the financial planning world but it typically refers to investing. Today we want to explain how to apply diversification to tax planning and why it’s important to utilize each of the three buckets: taxable, tax-deferred, and tax-free.

What we discuss on this episode: 

0:32 – The concept of tax diversification

1:27 – The different buckets

6:10 – Balancing the three buckets

7:40 – Does tax strategy change over time?

8:50 – Mistakes that can be made

10:55 – Mailbag question on emergency funds

14:00 – Mailbag question on old 401K accounts

Important Links:

Chessman Wealth Website: https://www.chessmanwealth.com

Call: 214-572-2120

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Today we speak with Jeff Wilson, Founder and CEO at Saxony Partners, someone Wade has known for more than 20 years. Wilson and his team at Saxony Partners have built a successful management and digital consulting firm through hard work and consistency. Find out his keys for starting a business, the highs and lows along the way, and how COVID created the toughest year yet.   

What we discuss on this episode: 

1:05 – Background on Saxony Partners

4:49 – Jeff’s career before Saxony

12:18 – Low moments during building the business

14:57 – Best moments he’s had

18:14 – Advice he’d give business owners

19:36 – Advice he’d give younger self

21:21 – How to connect with Jeff

Important Links:

Chessman Wealth Website: https://www.chessmanwealth.com

Call: 214-572-2120

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Business owners may be particularly vulnerable to some misconceptions and false assumptions about their retirement. Let’s address a few of these issues on today’s show.

Important Links:

Chessman Wealth Website: https://www.chessmanwealth.com

Call: 214-572-2120

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Wade invites in long-time friend and the CEO Mile Marker, Jud Mackrill. They discuss how business owners need to build a plan and identity that both they and their workers can understand and buy into. They also discuss other common mistakes they see by business owners just starting out, and how Jud has grown as a business owner to his current position today.

Important Links:

Chessman Wealth Website: https://www.chessmanwealth.com

Call: 214-572-2120

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Many financial circumstances that you’ll find yourself in have both positive and negative aspects. Decisions that you can make have both good and bad consequences. Or as Sir Isaac Newton put it: ”For every action, there is an equal and opposite reaction.”

Important Links:

Chessman Wealth Website: https://www.chessmanwealth.com

Call: 214-572-2120

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We invite a special guest from the Chessman Wealth office, Sean Phillips. Sean is the Vice President of Wealth Management and Wealth Advisor with a speciality in tax planning. We thought this would be a great time to have him on the show as you get ready to file your 2020 taxes. We cover some of the changes you need to be aware of and answer some common tax questions.

Important Links:

More Info About Sean: https://bit.ly/3sysJgL

Chessman Wealth Website: https://www.chessmanwealth.com

Call: 214-572-2120

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Sometimes the easiest way to learn about something is make it really simple. Like some of the first true/false tests you might have taken in school, let’s play a round of fact or fiction to test your financial planning acuity.

Important Links:

Chessman Wealth Website: https://www.chessmanwealth.com

Call: 214-572-2120

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There’s no doubt that the world around us is chaotic and messy. However, this should not translate to your finances. Let’s talk about some of the areas of your financial life where you might be flirting with disaster and don’t even know it.

Important Links:

Chessman Wealth Website: https://www.chessmanwealth.com

Call: 214-572-2120

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Ralph Pence is the founder and owner of Advisor Resource Company. His company provides advisors with unbiased information and advice regarding life insurance products, so that they can better serve their clients. We talk to Ralph today about the reasons why he wanted to start his own business, the growing pains of moving from the corporate world, and much more.

Important Links:

Ralph's Website: https://advisors-resource.com/about-us/

Ralph's Phone Number: 972-338-9655 Ext. 101

Chessman Wealth Website: https://www.chessmanwealth.com

Call: 214-572-2120

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On today's show, we chat with Ron Carson. Ron is the founder and CEO of the Carson Group. His business not only focuses on helping families plan for their retirement, but they also coach other advisors and help them improve on their business as well. Ron discusses why he initially got in the financial services industry and why working with a team helped him find success.

Important Links:

Ron's Website: https://bit.ly/30iO0iV

Chessman Wealth Website: https://www.chessmanwealth.com

Call: 214-572-2120

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No one likes to deliver bad news. That’s why we often follow it up with the good news. Sometimes the good news makes up for the bad news. But other times it falls short. Let’s look at some situations in life where retirees are often given bad news during a financial review and evaluate if the good news offsets it.

Important Links:

Chessman Wealth Website: https://www.chessmanwealth.com

Call: 214-572-2120

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Today we sit down and interview Jeff Whittle, who is a Certified Implementer of the Entrepreneurial Operating System. His practice is dedicated to helping entrepreneurs and owners build a better business. Jeff talks to us today about the companies need to think about when improving upon their business and his philosophy behind what he does.

Important Links:

Jeff's Email: jwhittle@whittleandpartners.com

Jeff's Website: https://whittleandpartners.com/

Chessman Wealth Website: https://www.chessmanwealth.com

Call: 214-572-2120

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You’ve probably never heard anyone make these statements that we’ll provide on today’s episode. And there are some great reasons why.

Important Links:

Chessman Wealth Website: https://www.chessmanwealth.com

Call: 214-572-2120

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Want to grade your preparedness for retirement? Here are five key questions you need to ask yourself. Your answers will help determine how ready you are for retirement.

Important Links:

Chessman Wealth Website: https://www.chessmanwealth.com

Call: 214-572-2120

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If you look up quotes about diversification from famous investors, you might come across one from renowned investor Warren Buffet that will certainly raise your eyebrows. It goes, “Diversification is protection against ignorance. It makes little sense if you know what you are doing.” Yet, we’ve always heard about diversification being one of the keys to success for retirement planning. How can these seemingly different ideas both be right?

Important Links:

Chessman Wealth Website: https://www.chessmanwealth.com

Call: 214-572-2120

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Dave Parkin founded Connect Structural Engineering in 1999. They have been in business for over 20 years and the vast majority of their clients are architects. But before 1999, Dave was working under others and had an inclination that he eventually wanted to run his own business. Wade talks to Dave on how he worked through this transition and the ups and downs that go along with being an entrepreneur.

Important Links:

Chessman Wealth Website: https://www.chessmanwealth.com

Call: 214-572-2120

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We’re talking specifically to Baby Boomers on this episode. What are the most common challenges, fears and objectives of this generation? What are some of the mistakes Boomers often make and how can they be avoided? We’ll ask and attempt to answer those questions on today’s show.

Important Links:

Chessman Wealth Website: https://www.chessmanwealth.com

Call: 214-572-2120

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Vanguard’s “How America Saves 2020” report is packed with lots of intriguing stats and findings about Americans and how they save for retirement in the crazy year that is 2020 (most of the recent data is technically from 2019 although some figures are current through the Spring of 2020). Let’s look at some of the top takeaways from the study and how you might compare to the “normal” savings behaviors of Americans.

Important Links:

Vanguard Article: https://institutional.vanguard.com/ngiam/assets/pdf/has/how-america-saves-report-2020.pdf

Chessman Wealth Website: https://www.chessmanwealth.com

Call: 214-572-2120

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Ben Bell is President of the Southwest Region of The Signatry. He works with donors to encourage biblical generosity through different strategies. We break down what a donor advised fund is and the different ways you may be able to use one.

Important Links:

Chessman Wealth Website: https://www.chessmanwealth.com

Call: 214-572-2120

The Signatry's Website: https://thesignatry.com/

Ben's Email: bbell@thesignatry.com

Phone Number: 214-707-6668

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The IRA is an incredibly popular vehicle to save for retirement. But are you being too passive about how you’re saving and investing inside that account? Let’s put your IRA through some scrutiny to see if you’re truly taking advantage of all it has to offer and understand its pros and cons.

Important Links:

Chessman Wealth Website: https://www.chessmanwealth.com

Call: 214-572-2120

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Many financial issues impact us all the same. But, of course, other challenges have varying impacts from person to person because our situations are all unique. Let’s take a look at some of the financial and retirement challenges that are unique to women.

Important Links:

Chessman Wealth Website: https://www.chessmanwealth.com

Call: 214-572-2120

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We often find that people are clinging to certain ideas or beliefs that end up giving them a sense of false hope about their retirement. It’s a dangerous position to be in. Let’s explore some of the faulty thinking that ultimately leaves people underprepared for retirement.

Important Links:

Chessman Wealth Website: https://www.chessmanwealth.com

Call: 214-572-2120

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It is a life event that can be one of the most difficult things to go through both emotionally and financially. When one spouse dies, the remaining spouse is left to wrestle with a mountain of questions and choices. And although it’s difficult to discuss, proper planning can help make it easier to transition through this major life event. Let’s explore what someone should do in the event of a spouse’s passing, but also some of the pre-planning that can take place.

Important Links:

Chessman Wealth Website: https://www.chessmanwealth.com

Call: 214-572-2120

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We talk about Wade being a Certified Kingdom Advisor along with a Certified Financial Planner, but what exactly does that all entail? On today's episode, we'll tell you how he got that title, how Kingdom Advisors got started, and the mission behind the group.

Important Links:

Chessman Wealth Website: https://www.chessmanwealth.com

Call: 214-572-2120

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People are always studying geniuses and highly intelligent people, trying to get an understanding of what makes them tick. Let’s look at some of the common characteristics of highly intelligent people that you should apply to your financial life.

Important Links:

Chessman Wealth Website: https://www.chessmanwealth.com

Call: 214-572-2120

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Let’s talk about some of the common mistakes that we see being made time and time again by retirees and pre-retirees.

Important Links:

Chessman Wealth Website: https://www.chessmanwealth.com

Call: 214-572-2120

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If you’re like most people, you probably have some financial accounts that you haven’t paid much attention to recently. The statements are just collecting dust in your file cabinet, but they might actually be hidden gems that could be put to much better use. Let’s talk about some of the accounts that people tend to ignore for too long.

Important Links:

Chessman Wealth Website: https://www.chessmanwealth.com

Call: 214-572-2120

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The Coronavirus stimulus bill now makes it easier for Americans to withdraw money from their 401(k)s and other types of retirement accounts. Is this a wise choice to help ease the burden of the crisis?

Important Links:

Chessman Wealth Website: https://www.chessmanwealth.com

Call: 214-572-2120

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Time for an update on where we stand with the markets, the economy, and retirement planning as it relates to the Coronavirus pandemic.

Important Links:

Chessman Wealth Website: https://www.chessmanwealth.com

Call: 214-572-2120

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On our last episode, we talked about the impact that the Coronavirus had on the market. Many people feel worried and anxious when they see the market go in the red, but there are other who see it as an opportunity. Wade will tell us 5 ways we can potentially take advantage of a down market.

Important Links:

Chessman Wealth Website: https://www.chessmanwealth.com

Call: 214-572-2120

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The Coronavirus (COVID-19) is having a dramatic impact on our daily lives and many people are taking a huge financial hit from lost wages, a volatile stock market, and general economic uncertainty. Wade will give his opinion on the current situation and why it is so imperative to have a solid financial plan in place.

Important Links:

Chessman Wealth Website: https://www.chessmanwealth.com

Call: 214-572-2120

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The idea of a Roth conversion is intriguing to a lot of people, and for some people it can be a great strategy to enact. Let’s explore the concept…

Important Links:

Chessman Wealth Website: https://www.chessmanwealth.com

Call: 214-572-2120

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Most people like to think that they always make decisions based on logic and facts, but the truth is that emotions usually play a role for all of us in the decision-making process…

Important Links:

Chessman Wealth Website: https://www.chessmanwealth.com

Call: 214-572-2120

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After it simmered in Congress for a year, the SECURE Act is now law. If you have a retirement account of any kind, or will one day inherit a retirement account, this will affect you.

Important Links:

Chessman Wealth Website: https://www.chessmanwealth.com

Call: 214-572-2120

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Of course, we all want a healthy bank account. Having a good amount of dollars within easy grasp is helpful in the case of emergencies or for medium-sized purchases where you don’t want to have to liquidate assets. But is it counterproductive to have too much cash on hand? We’ll explore that idea and other pressing questions about the role that cash plays in financial and retirement planning.

Important Links:

Chessman Wealth Website: https://www.chessmanwealth.com

Call: 214-572-2120

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Do you believe you need to be completely debt free to retire successfully? Or are you OK carrying some balances beyond your working years? There are many opinions about the best way to handle debt and retirement planning, so we’ll tackle them all on today’s show.

Important Links:

Chessman Wealth Website: https://www.chessmanwealth.com

Call: 214-572-2120

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There is no doubt that the passing of a spouse is one of the most difficult life events to get through. When this does happen, you will want to focus on grieving for your loved one and finances are the last thing you will want to worry about. Today's episode focuses on getting a plan in place before this traumatic life event happen.

Important Links:

Chessman Wealth Website: https://www.chessmanwealth.com

Call: 214-572-2120

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There are some people who don’t care at all about leaving a financial legacy, but for those who do, it’s important to eliminate some of the common estate planning mistakes.

Important Links:

Chessman Wealth Website: https://www.chessmanwealth.com

Call: 214-572-2120

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With all of the things in the financial world that you can’t control, why would you sabotage your own retirement by messing up the things you can control? Let’s discuss some ways that people sabotage their own financial health.

Important Links:

Chessman Wealth Website: https://www.chessmanwealth.com

Call: 214-572-2120

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Sometimes being a good financial advisor means having uncomfortable conversations. We’ll take a look at how advisors should help clients navigate various tricky situations. If you’re going to be working with a financial advisor, make sure they’re pushing you to address these kinds of topics.

Important Links:

Chessman Wealth Website: https://www.chessmanwealth.com

Call: 214-572-2120

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While there are some factors that are different for everyone in retirement planning (variables), there are also constants that affect everyone, no matter the specifics of your situation. How do we plan around these constants?

Important Links:

Chessman Wealth Website: https://www.chessmanwealth.com

Call: 214-572-2120

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Some people think we’re on the cusp of the next stock market crash. Others predict that we’re just due for a minor correction. And another camp thinks we’ll continue an upward trend. We don’t know who is right or when any of those options will occur. But let’s talk about what the next market crash might look like, even if we don’t know when it will come.

Important Links:

Chessman Wealth Website: https://www.chessmanwealth.com

Call: 214-572-2120

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Even for people who have been very responsible with their money over the years, entering retirement can still be a challenge because it’s such a different stage of life. Let’s talk about some of the missteps that even responsible savers can make…

Important Links:

Chessman Wealth Website: https://www.chessmanwealth.com

Call: 214-572-2120

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Today’s episode is simple. We’ll look at some of the most widely believed financial myths and try to bust them wide open. The scary thing is that a lot of people base their financial plans on some of these myths. Don’t be like that.

Important Links:

Chessman Wealth Website: https://www.chessmanwealth.com

Call: 214-572-2120

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As we get into the 2nd half of 2019, there are several planning items you might want to run a quick checkup on, especially if you’re a retiree, or pre-retiree, to make sure you’re still on the right financial track. Are you focusing on the right things? Listen to today’s podcast to find out.

Important Links:

Chessman Wealth Website: https://www.chessmanwealth.com

Call: 214-572-2120

View Details

Before we launch the first official episode of The Money Knight Podcast with Wade Chessman, we wanted to introduce you to the show and the people. In This “Getting To Know You” episode, we’ll learn more about Wade, his business and the future of the podcast.

Important Links:

Chessman Wealth Website: https://www.chessmanwealth.com

Call: 214-572-2120