It's All About The $money, Honey!

There are currently about 22 million Millionaires in the United States, or roughly 1 out of every 15 Americans. Since 2000, an average of 580,000 new Millionaires joined the ranks each year. So, how does one become a Millionaire? You might be tempted to think that the biggest factor is having a large income. That certainly helps, but it’s not the #1 factor. In this episode, we reveal our top 5 reasons people become Millionaires even without a 6-figure income.

Having money is certainly better than not having money. Money is a tool that allows you to live a comfortable lifestyle. Yet, money cannot guarantee that the lifestyle you're living is one that gives you purpose. For that, you must look beyond the assets you own and consider how you're using the wealth you've built. In this episode, we welcome financial advisor and author Barry Moschel to discuss his book Make It A Life Worth Living: Your Purpose, Health, and Legacy. Barry shares simple lessons on how to live a life with purpose, maximize your health, age gracefully, and create a legacy you will truly be proud of.

Some of the most sweeping tax changes on the horizon will impact the estate you leave to your heirs. Beginning in 2026, the amount of assets you can pass to your heirs without paying estate tax will fall. These changes, if allowed to take effect, could significantly alter how you manage your estate plan. In this episode, we'll discuss those changes and how they might impact you. Later, we share some simple strategies for maximizing your rental property income as the summer rental season heats up.

As talk of tariffs continues to roil the stock market, many investors have decided they are packing it in for now. They are done riding the market roller coaster and waiting for a smoother ride to get back in. However, just because the market is down doesn't mean there aren't opportunities to be found, if you know where to look. In this episode, we share some of the ways you can take advantage of a falling market with long-term beneficial results. And later, we'll discuss which items you might want to stock up on before rising tariffs make them more expensive.

The big headline in April 2025 was tariffs. The Trump Administration announced new tariffs on imports from a variety of nations. Not surprisingly, global stock markets, including in the United States, fell significantly as investors considered the possible fallout. Whether it's tariffs, interest rates, or terrorist attacks, the market is always going to be susceptible to massive drops when people get scared. The key to weathering these storms is setting up a good defense in advance. In this episode, we discuss some of the simple strategies you can deploy in your portfolio to ride out turbulent times. Later, we we reveal how you can increase your odds of living to age 100 and beyond.

Each year, a small percentage of Americans will face the dreaded IRS audit. While there is no sure-fire way to avoid triggering an audit, there are certain tax situations that attract the IRS' attention more often and increase the odds you will be audited. In this episode, we examine 5 of the biggest tax red flags that will almost certainly trigger an IRS audit and how you can avoid them. Later, we will discuss a special tax deduction you may qualify for as a caregiver for a loved one.

Following the death of legendary actor Gene Hackman, details came to light about his estate plan. Because he and his wife died so closely together, it was unclear who actually died first. This set off a chain reaction that led to disputes over his substantial estate. In this episode, we examine cautionary tales of celebrity estate planning nightmares and how you can avoid them. Later, we share how retirees are earning actual income from their hobbies.

At some point, it is likely you will become a caregiver for an aging parent or spouse. Helping a loved one transition from independent living to assisted living or nursing care can often be a challenging ordeal. The key to managing that transition as best you can is being prepared. In this episode, we share the key documents to have and considerations to make as you become a caregiver for a loved one. Later, we discuss the most important things you should know before hiring a financial advisor.

Of all the classes of assets people can invest in, the one that seems to attract the most interest, but has the least amount of understanding, is alternatives. For many people, the idea of investing in alternatives is exciting, exclusive, and maybe a bit dangerous. Promising huge potential returns, alternatives can be a great way to multiply your wealth, or lose it all. In this episode, we discuss three of the most popular types of alternatives, Private Equity, Hedge Funds, and Real Estate Investment Trusts. And later, we'll visit with Lisa Ward, CFP® to discuss what really is a financial plan.

It was hard to ignore the big financial story from the past few weeks. We’re talking about tariffs. President Trump announced tariffs on imports from Canada, Mexico, and China and, not surprisingly, the stock market reacted negatively.  Tariffs have a lot of Americans nervous about the future for our economy, yet recent history suggests they might not be such a big deal. In this episode, we examine the potential impact of these tariffs and whether or not they will happen at all.

One question we get quite frequently is "Should I consider using Roth accounts?" Like almost every financial question, the answer is, 'It depends." While using Roth accounts won't really make any difference in the investment choices you make, they can have major impacts on your future taxes. Choosing to use Roth accounts or Roth Conversions is a judgment call based on your specific goals and needs. In this episode, we examine situations where using tax-free Roth accounts in your retirement plan could give you a significant advantage in retirement.

It's often said that the only things certain in life are death and taxes. However, there is one missing from that list. One thing that is absolute certain is uncertainty. Change is inevitable and this includes the economy and market. Still, while we can't predict what or when changes will occur, it is possible to take steps to prepare your money. In this episode, we share how to navigate financial changes with tried and true strategies.

Every new year brings new financial rules and laws that impact our money and the financial decisions we make. As we begin 2025, this year is no different. Changes to Medicare, Social Security, taxes, and 401k plans have all taken effect and it's vital that you know what's changing and how they will impact you.

As 2025 approaches, there will be no shortage of headlines that dominate the news in the coming months. Among those are financial headlines that will likely have significant impacts on the economy and market. In this episode, we reveal the top financial headlines for 2025 we will be watching. And later, we will share a better way for setting New Year's Resolutions that ensures a much higher probability you will achieve your big goals.

Millionaires have a very low probability of running out of money in retirement. Yet, there are those that are very happy, contented, and living their best lives and there are those that are unhappy, stressed, and always chasing more. How can there be such a disparity in the the experiences of people with similar financial resources? In this episode, we share common characteristics of The Unhappily Rich. Later, we reveal some of the most popular AI features on Apple and Samsung phones you probably aren't using.

More than 66 percent of Americans have no estate plan of their choosing and are relying on courts and state laws to decide what happens to their lifetime of accumulated assets after they pass away. Sadly, the people that are impacted most are the loved ones left behind. In this episode, we discuss why creating an estate plan is the ultimate gift of love to your family. And later, we share why a financial plan is the perfect gift to give the younger members of your family this Christmas.

Studies show that those who live to the age of 65 have a 70 percent probability of needing some type of long-term care at some point in their lives. As human life expectancy grows, this fact makes it more likely that children will become caregivers for aging parents. In this episode, we examine some of the actual experiences of clients we serve and how they have handled the significant challenges and burdens of becoming a caregiver. Then later, we share some of our strategies for reducing or even eliminating taxes in retirement.

Most of your life will be spent in the accumulation phase of managing your wealth. The goal is to grow your nest egg so that when you retire, it's as big as possible. However, there will come a time when the primary goal is to preserve and spend your wealth in retirement. This is called the decumulation phase and mastering it takes a totally different mindset than the growth phase. In this episode, we reveal why having a growth mindset in retirement can actually hurt you. Later, we discuss year-end charitable giving strategies you can use to reduce your tax bill.

While having a lot of money in retirement can certainly make life easier and more enjoyable, it does not guarantee happiness. What truly makes wealthy retirees happy is what they do with the wealth they have. In this episode, we reveal 5 key habits happy retirees share. And later, we share simple strategies you can use to put your lazy cash to work.

Approximately 90 percent of wealthy families will see their accumulated wealth disappear within three generations. It shouldn't be surprising that the generations who had little or no role in creating the wealth have little respect for how hard it was to earn it and preserve it. In this episode, we talk with Pam Mowry, CEO of Canterbury Voices, about the importance of shared vision and values among families and the role that philanthropy plays in a successful financial plan.