Podcast
One For The Money
Hosted by Jonny West · EN
Listen to hear Jonny break down the tips, tricks, and strategies he uses to help clients retire early. This is the "easy button" when it comes to early retirement because everything you want and need to know is right here. Jonny will lay it all out in plain English so you can get the details on the actions you can do to put yourself on the best path to early retirement. He'll also interview top real estate, tax, and estate planning and other professionals to provide a comprehensive approach to your retirement planning. Nobody builds wealth by accident. Listen to find out how you can do it on purpose.
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Fabulous 529s - The Hidden Power of 529 Plans (and How to Use Them Like a Pro) - Ep #110
6d ago00:11:53Tap to summarizeEpisode 110: The Hidden Power of 529 Plans (and How to Use Them Like a Pro)Welcome back to the One for the Money podcast!In this episode, we dive into one of the most powerful—and often misunderstood—tools for college planning: 529 plans. With graduation season in full swing, this topic hits especially close to home as families prepare for the next big (and expensive) chapter.🎓 What’s Inside This EpisodeA Personal MilestoneGraduation season is here, and in the West household, it’s a big one. From elementary school to high school, the years may feel long—but they fly by. With one son heading to college, this episode reflects both the emotional and financial realities of preparing for higher education.💡 529 Plans: More Than Meets the EyeAt their core, 529 plans are tax-advantaged investment accounts designed for education expenses. But beneath the surface, they offer far more flexibility and strategic value than many people realize.Here’s why they stand out:Tax Advantages: Contributions grow tax-deferred, and withdrawals are tax-free when used for qualified education expenses.Flexible Beneficiaries: You can change the beneficiary to another family member—or even yourself.Future Planning Power: Start a 529 today and transfer it later to future children or grandchildren.No Required Distributions: Funds can continue growing for years—even generations.Superfunding Opportunities: Front-load up to five years of gifts in one contribution for powerful estate planning.🔄 New Rules: 529 to Roth IRA Transfers (SECURE 2.0)Recent legislation introduced a game-changing strategy: rolling unused 529 funds into a Roth IRA for the beneficiary.Key rules to know:The Roth IRA must belong to the 529 beneficiaryThe 529 must be at least 15 years oldContributions made within the last 5 years (and earnings) are excludedAnnual rollovers are limited to IRA contribution limits (no double-dipping)Lifetime rollover cap: $35,000 per beneficiaryWhy this matters:This creates an opportunity to “jump-start” a child’s retirement savings—potentially turning unused college funds into long-term, tax-free growth.🚀 Strategy Spotlight: Start Early, Think Long-TermBy funding a 529 early in a child’s life and gradually rolling funds into a Roth IRA (once eligible), families can harness decades of compounding. With consistency and time, even modest amounts can grow into significant retirement assets.🛠️ Tips, Tricks & Strategies: Investing Inside a 529Don’t overlook how you invest within the account:Early Years: Consider growth-oriented or stock-heavy portfolios to maximize long-term returns5 Years from College: Gradually shift to more conservative investmentsPreserve What You’ve Built: As college approaches, focus less on growth and more on preserving fundsReal-life approach:As college nears for the host’s oldest son, the first few years of expenses have been moved into conservative investments—reducing the risk of a market downturn right when the money is needed.🎯 Key Takeaway529 plans aren’t just college savings tools—they’re flexible, strategic, and surprisingly powerful vehicles for both education and long-term financial planning.Thanks for listening!If you found this episode helpful, be sure to share it with someone navigating college planning. And remember:A better life is the result of better planning—and that absolutely includes planning for education.See you next time!ResourcesCongress.gov – SECURE 2.0 Act (529-to-Roth IRA Provision)Fidelity Investments – 529-to-Roth IRA Transfer Rules ExplainedFINRA – 529 Plan Investment StrategiesInternal Revenue Service – 529 Plans (Qualified Tuition Programs)Saving for College – Complete Guide to 529 PlansSaving for College – 5-Year Gift Tax Averaging (Superfunding)Schwab – Understanding 529 to Roth IRA RolloversU.S. Securities and Exchange Commission – Introduction to 529 PlansPrior to investing in a 529 Plan investors should consider whether the investor's or designated beneficiary's home state offers any state tax or other state benefits such as financial aid, scholarship funds, and protection from creditors that are only available for investments in such state's qualified tuition program. Withdrawals used for qualified expenses are federally tax free. Tax treatment at the state level may vary. Please consult with your tax advisor before investing. (19-LPL)The content in this material is for general information only and are not intended to provide specific advice or recommendations for any individual. All information is believed to be from reliable sources; however, LPL Financial makes no representation as to its completeness or accuracy.
Transcribe →Why Women Must Be More Involved with Financial Planning - Ep #109
3w ago00:10:42Tap to summarizeEpisode SummaryWith Mother’s Day right around the corner, this episode highlights an important—and often overlooked—reality in financial planning: too many women are still taking a back seat when it comes to managing their financial future.Drawing from real client experiences, this episode explores why financial planning works best when both partners are actively involved, and why it’s especially critical for women to engage in the process.From differences in financial goals and investment behavior to the long-term impact of widowhood and divorce, this conversation makes a compelling case for shared financial decision-making—and the risks of sitting on the sidelines.What You’ll LearnWhy financial planning is more effective when both partners participateCommon differences in how men and women approach investingHow misaligned goals (even in something like vacations) reflect deeper planning gapsThe financial realities women often face after divorce or widowhoodWhy women tend to outperform men as investorsThe risks of deferring financial decisions to a spouseKey TakeawaysFinancial planning is not a “set it and forget it” process—especially for couplesWomen are statistically more likely to experience the long-term outcomes of financial decisionsBeing uninvolved in financial planning can lead to costly consequencesWomen often bring discipline, patience, and better long-term behavior to investingShared planning leads to better alignment, better decisions, and better outcomesTips, Tricks & StrategiesWant to get more involved in your financial life? Start here:Attend financial meetingsBe present in conversations with your financial advisor. If you don’t have one, consider working with a professional.Build your financial knowledgeListen to podcasts, watch videos, or read about personal finance. The basics are more approachable than you think.Run a “what if” scenarioIf you had to take over all financial responsibilities tomorrow, would you be ready? Know your accounts, contacts, and plan.Notable Stats from the EpisodeWomen often experience a larger drop in income after divorce than menWomen tend to live longer, making long-term planning even more criticalA significant percentage of women defer financial decisions to their spouseStudies show women often outperform men in investing due to more disciplined behaviorFinal ThoughtA better life is the result of better planning—and better planning requires participation. If you’re not at the table, it’s time to pull up a chair.ReferencesDo women live longer than men in the US? | USAFactsThe Economic Consequences of Gray Divorce for Women and MenWomen Are Strong Savers. So, Why Do Their Balances Often Lag Behind?Women Put Financial Security at Risk by Deferring Long-term Financial Decisions to Spouses
Transcribe →Is the Tax Code Fair? - Ep #108
Apr 1500:14:50Tap to summarizeIt’s Tax Day — the one day of the year when millions of Americans collectively ask the same question: Did I pay too much… or too little?But another question quickly follows: Is everyone else paying their fair share?In this episode, we explore one of the most debated topics in economics and politics — the fairness of the U.S. tax system. We examine how income and wealth are taxed differently, look at what the latest IRS data actually shows about who pays federal income taxes, and discuss current policy debates such as proposed wealth taxes.You may be surprised by what the numbers reveal.In the Tips, Tricks, and Strategies segment, we also discuss how reviewing your recently filed tax return can help you make smarter tax planning decisions for the year ahead.Key Topics CoveredTax Day and the Emotional Side of TaxesTaxes are more than numbers — they’re emotional. Every election cycle raises the question of whether Americans pay too much or whether certain groups pay too little.Economist Thomas Sowell once joked:“Elections should be held on April 16th — the day after we pay our income taxes.”The quote highlights how differently people view taxation depending on when they’re writing the check.Income vs. Wealth: Why They’re Taxed DifferentlyA key factor in the fairness debate is that income and wealth are taxed in very different ways.IncomeWages and salaryBusiness incomeTaxed progressively (higher income = higher rates)WealthStocksReal estateBusiness ownershipUsually taxed only when assets are soldBecause wealth is often unrealized, individuals can sometimes access it through borrowing strategies without triggering taxes.The “Borrow, Spend, Die” StrategySome wealthy individuals use what’s often called the borrow, spend, die strategy:Borrow against investments rather than selling themSpend the borrowed fundsPass assets to heirs when they pass awayBecause assets may receive a step-up in basis at death, the capital gains taxes can be significantly reduced.This strategy is one reason critics argue the tax code favors asset owners over wage earners.The Warren Buffett ExampleInvestor Warren Buffett famously said that he pays a lower tax rate than his secretary.While statements like this often fuel public debate, they also highlight an important distinction between:Tax ratesTotal taxes paidEven when rates differ, the wealthiest taxpayers still pay very large total amounts of tax.What the IRS Data Actually ShowsThe most recent IRS data (2022) reveals that the federal income tax system is already highly progressive.Top 1%Income: ~$663,000+ AGIAverage tax rate: 26.1%Share of federal income taxes paid: 40.4%Bottom 50%Income: ~$50,000 or lessAverage tax rate: 3.7%Share of federal income taxes paid: 3%Key takeaway:The top 1% earns roughly 22% of income but pays more than 40% of federal income taxes.The Wealth Tax DebateRecent policy proposals — including some state initiatives — have revived discussion about wealth taxes.Supporters argue they would address wealth inequality by taxing large accumulations of assets.Critics argue wealth taxes would require governments to:Value assets every yearAssess taxes on unrealized wealthExpand government oversight into private propertyRegardless of where someone stands politically, the debate reflects a larger issue:The U.S. tax system is complicated, and fairness is difficult to define.Tips, Tricks, and StrategiesConduct a “Tax Post-Mortem”Now that you’ve filed your taxes, take a few minutes to review your return and ask a few key questions.1. Did You Withhold Too Much?A large refund might feel good — but it means you gave the government an interest-free loan during the year.If your refund was larger than $1,000–$2,000, consider adjusting your withholding.2. Review Your Marginal vs. Effective Tax RateRemember:Marginal tax rate = rate applied to your last dollar of incomeEffective tax rate = your overall average tax rateUnderstanding the difference can help guide decisions like:Retirement contributionsRoth conversionsIncome timing strategies3. Look at Your Adjusted Gross Income (AGI)Review your AGI and see:Which tax bracket you fell intoHow close you were to the next bracketIf you were near a threshold, planning opportunities may exist for future years.Key TakeawayThe fairness of the tax code will always be debated.But instead of trying to solve the national tax system, the most productive step you can take is to focus on your own tax strategy.Better planning leads to better outcomes.And good financial planning always includes tax planning.ReferencesSOI Tax Stats - Individual statistical tables by tax rate and income percentile | Internal Revenue ServiceSummary of the Latest Federal Income Tax Data, 2025 UpdateIf You Enjoyed This EpisodeBe sure to:Follow the podcastShare the episode with someone preparing their taxesLeave a review to help others discover the showThis information is not intended to be a substitute for specific individualized tax or legal advice. We suggest that you discuss your specific situation with a qualified tax or legal advisor.
Transcribe →7 Reasons to Pay Taxes Now vs Later - Ep #107
Apr 100:11:15Tap to summarizeEpisode 107 Show NotesPay Taxes Now or Later? 7 Strategic Reasons to Consider Roth ConversionsThis episode airs on April 1st — just two weeks before the April 15th tax filing deadline — which makes it the perfect time to talk about proactive tax planning.While everyone has to pay taxes, no one should ever leave a tip.In this episode, we discuss why paying taxes strategically now — through Roth contributions and Roth conversions — may help you and your loved ones pay significantly less over your lifetime.If most of your retirement savings are in traditional IRAs or 401(k)s, this conversation is especially important. Pre-tax accounts can become what some call “ticking tax time bombs” because the taxes are still owed — and future tax rates are unknown.We walk through seven key reasons you may want to consider paying taxes sooner rather than later.In This Episode1️⃣ Avoiding the “Widow’s Tax”When one spouse passes away, the surviving spouse often moves from married filing jointly to single filing status — which can mean a significantly smaller standard deduction and potentially higher taxes. Strategic Roth conversions can help reduce that future burden.2️⃣ Preventing Large Tax Bills on Big WithdrawalsMajor purchases, healthcare costs, or bucket-list experiences may require large withdrawals. Taking those funds from pre-tax accounts can push you into higher tax brackets. Having tax-free Roth funds creates flexibility.3️⃣ Reducing Medicare Premium Surprises (IRMAA)Medicare premiums are income-based. Higher taxable income can increase your premiums through IRMAA. Managing future taxable income with Roth strategies can potentially help minimize these increases.4️⃣ Controlling Required Minimum Distributions (RMDs)RMDs are mandatory — whether you need the income or not. Large pre-tax account balances can force sizable taxable withdrawals later in life. Tax diversification gives you more control over your income in retirement.5️⃣ Protecting Heirs from the 10-Year RuleUnder the SECURE Act, most non-spouse beneficiaries must withdraw inherited retirement accounts within 10 years — often during their highest earning years. Roth conversions can serve as a tax-efficient legacy strategy.6️⃣ Using Non-Retirement Funds StrategicallyPaying conversion taxes from taxable or cash accounts may allow more of your retirement assets to grow tax-free over time.7️⃣ Hedging Against Future Tax IncreasesCurrent tax rates are historically low relative to federal debt levels. Roth strategies allow you to lock in today’s known rates instead of gambling on tomorrow’s unknown ones.Tips, Tricks & Strategies: The Golden Tax WindowWe also introduce the Golden Tax Window — the period between retirement and the start of Required Minimum Distributions.During these years:Earned income may be reduced or eliminatedTaxable income may be lowerRMDs have not yet begunThis window can provide a powerful opportunity to execute Roth conversions at favorable tax rates.Key TakeawayYou don’t pay less in taxes by accident. Lower lifetime taxes are the result of proactive, multi-year planning.Most Americans save primarily in pre-tax retirement accounts — but remember, those accounts are co-owned with the IRS. How much you ultimately keep depends on the planning you do today.Roth conversions are not one-size-fits-all. Work with a CFP® professional and qualified tax advisor to determine whether this strategy makes sense for your situation.If you found this episode helpful, please subscribe, share it with someone who could benefit, and leave a review.Remember: A better life is the result of better planning — and better planning includes proactive tax planning.
Transcribe →ReFirement & Coast FIRE – Redefining Retirement for Growth and Flexibility - Ep #106
Mar 1500:11:52Tap to summarizeRetirement isn’t just the closing of one chapter — it’s the opening of another.In this episode, I explore how shifting your mindset from retirement to ReFirement can dramatically improve both your financial outcomes and your overall fulfillment. Rather than viewing retirement as a period of rest and withdrawal, I discuss how intentional planning can turn it into a season of renewed purpose, contribution, and personal growth.You’ll also learn about an increasingly popular early-retirement strategy known as Coast FIRE — and how it may provide more flexibility in your working years than you realize.In This Episode, I Discuss:🔹 Why the First Year of Retirement MattersHow early retirement habits shape the next 25–30 yearsThe emotional and identity shifts that occur after leaving a careerWhy traditional retirement planning often misses the human side of the transition🔹 ReFirement: A New Vision for RetirementMoving beyond financial capital to focus on Return on Happiness (ROH)Rediscovering passions, purpose, and contributionWhy retirement planning should center on meaning — not just money🔹 The Three Life-Planning QuestionsInspired by George Kinder’s life planning framework, I walk through three powerful exercises designed to uncover what truly matters:What would you do if you were financially free?How would you live if you had 5–10 years left?If today were your last day, what would you regret not doing or becoming?These questions help uncover untapped aspirations and align your financial plan with your deepest values.🔹 Coast FIRE ExplainedWhat FIRE (Financial Independence, Retire Early) really meansHow Coast FIRE differs from extreme early retirement strategiesWhen you’ve saved enough to let compound growth “do the heavy lifting”How Coast FIRE can allow for reduced hours, career pivots, or sabbaticalsThe financial and psychological risks to considerKey TakeawaysRetirement should be designed — not drifted into.Financial planning without life planning is incomplete.Accumulated retirement savings may already provide more flexibility than you realize.A better life is the result of better planning.Resources MentionedGeorge Kinder – Life Planning & EVOKE® ProcessThe Top Five Regrets of the Dying by Bronnie WareMr. Money Mustache (FIRE movement)If you found this episode helpful, please share it with someone planning for retirement or considering a more flexible financial future.Remember: you only get one life. Plan accordingly.
Transcribe →The State of Retirement in America - Ep #105
Mar 100:09:52Tap to summarizeEpisode 105: The Real State of Retirement in AmericaRetirement is supposed to be the reward after decades of hard work—but for many Americans, it’s filled with uncertainty, stress, and fear.In this episode of the One for the Money Podcast, we take an honest look at what retirement really looks like in America today, based on recent survey data from current retirees. The findings are eye-opening—and in some cases, heartbreaking.Drawing on both national research and real-world experience working with retirees every day, this episode breaks down what’s going wrong, what retirees are worried about most, and why so many people aren’t enjoying retirement the way they expected.We also wrap up with a Tips, Tricks, and Strategies segment packed with practical ideas for both pre-retirees and retirees who want more clarity, confidence, and enjoyment in retirement.What You’ll Learn in This EpisodeThe Emotional Reality of RetirementWhy retirement brings both hope and fearThe most common questions retirees ask themselves:“Do I have enough?”“Will my money last?”“Am I doing everything I can?”Shocking Findings from the 2025 U.S. Retirement SurveyBased on a national survey of 1,500 investors (including 373 retirees):Only 40% of retirees believe they have enough money45% say retirement expenses are higher than expected62% have no idea how long their money will lastWe break down what’s driving these numbers—and what can be done about them.Why So Many Retirees Feel Financially Insecure1. Fear of Spending MoneyMany retirees default to “spend less and hope” instead of following a real planThe decumulation paradox: most retirees never touch their principalWhy the real risk for many isn’t running out of money—but running out of time2. Retirement Expenses Are Higher Than ExpectedHousing, transportation, and household costs don’t disappearHealthcare and leisure spending often skyrocketThe reality behind Fidelity’s estimate that retirees spend 55–80% of pre-retirement income every year3. No Clear Answer to the Big QuestionWhy knowing how long your money will last requires stress-testing your planThe importance of planning for market downturns, inflation, longevity, and long-term careTop Retirement Concerns in 2025According to retirees surveyed:92% worry about inflation86% worry about healthcare costs80% worry about market corrections71% don’t know the best way to generate income70% worry about outliving their assetsThe Most Heartbreaking Statistic of AllWhen retirees were asked how they feel about their financial situation:Only 5% said they are living their dream37% feel comfortable39% say “not great, not bad”16% are struggling3% say they are living a nightmareAnd 64% of retirees don’t work with a financial professional—a gap that often leads to confusion, fear, and missed opportunities.Tips, Tricks, and StrategiesFor Pre-RetireesKnow exactly where you stand financiallyMaximize savings during your peak earning yearsReview all income sources and their reliabilityGet serious about managing debtPrioritize health and fitnessPlan healthcare before age 65 if retiring earlyReduce taxes with smart Roth and charitable strategiesEvaluate housing options and long-term suitabilityPrepare for long-term care expensesUpdate estate plans, beneficiaries, and powers of attorneyFor RetireesFocus on:Optimizing retirement incomeReducing unnecessary investment riskChoosing the right Medicare coverageCapturing every available tax opportunityKeeping estate plans updated and clearly communicatedFinal ThoughtsRetirement should not be lived in constant fear. With the right planning across income, investments, taxes, insurance, and estate planning, retirees can gain clarity—and the confidence to actually enjoy the life they worked so hard to build.A better life is the result of better planning—especially when it comes to retirement planning.Thanks for listening to Episode 105 of the One for the Money Podcast.ReferencesLiving in Retirement: Schroders US Retirement Survey
Transcribe →Should you Pay Your Mortgage Off Early? - Ep #104
Feb 1500:08:53Tap to summarizeEpisode 104: Should You Pay Off Your Mortgage Early?Is owning a home really the American Dream… or is owning it free and clear the real goal?In Episode 104 of One for the Money, we tackle one of the most common—and emotionally charged—financial questions homeowners ask: Should you pay off your mortgage early?The answer isn’t just about math. It’s about psychology, peace of mind, and how your mortgage fits into your bigger financial picture.What You’ll Learn in This EpisodeWhy over 40% of U.S. homeowners are mortgage-free—and what that trend tells usThe key numbers to evaluate before paying off your mortgage earlyWhy your amortization schedule matters more than you thinkWhen a low mortgage rate makes paying early a bad financial moveThe truth about the mortgage interest “tax deduction” mythWhether you can realistically retire with a mortgageHow peace of mind sometimes beats spreadsheets—and when it shouldn’tMath vs. MindsetWe break down when paying off your mortgage makes sense mathematically, and when it may make sense psychologically—even if the numbers say otherwise. After all, you can’t put a price tag on sleeping better at night.Tips, Tricks & Strategies SegmentIn this episode’s strategy segment, you’ll learn:A simple extra-payment strategy that can:Cut years off your mortgageSave tens of thousands of dollars in interestA real-world example showing how one extra payment per year can shave over 4 years off a 30-year mortgageSmall habit. Big impact.Key TakeawayPaying off your mortgage early isn’t a one-size-fits-all decision. It depends on:Your savingsYour interest rateYour tax situationYour retirement timelineAnd yes… your peace of mindA paid-for home can offer something no mortgage ever will: freedom.ReferencesWhy 40% of U.S. homeowners have no mortgage—and the number keeps growing - Fast Company
Transcribe →America’s Housing Crisis — What Broke It and How We Fix It - Ep #103
Feb 100:11:07Tap to summarizeThere aren’t enough homes. Homes are too expensive. And mortgage rates are too high.In Episode 103 of One for the Money, I break down how the U.S. housing crisis was created, why it persists, and what realistic solutions could actually improve affordability.This episode goes beyond headlines and politics to diagnose the root causes of the crisis—using plain economics, real-world examples, and historical context. We also share practical guidance for anyone considering buying a home in today’s challenging market.🎧 What You’ll Learn in This EpisodeWhy the housing crisis is fundamentally a supply-and-demand problemHow the early 2000s housing boom and NINJA loans set the stage for collapseWhy the Great Recession permanently reduced housing supplyHow zoning laws and building regulations increased home pricesThe role ultra-low interest rates played in fueling demandHow COVID-19 accelerated housing inflation at historic levelsWhy inflation and Fed rate hikes froze the housing marketThe “rate lock-in” effect keeping homeowners from sellingWhy younger generations are being priced out of homeownership🏡 Data Points DiscussedU.S. home prices rose 40–50% between 2020–2022Average long-term home appreciation (1990–2023): ~4.4% annuallyMortgage rates jumped from the mid-3% range to mid-6%Median age of first-time homebuyers rose from 32 (2000) to ~40 (2025)💡 Solutions ExploredWhy 50-year mortgages would likely make the problem worseThe potential of portable (assumable) mortgages to unlock supplyTargeted rate incentives for first-time buyersWhy boosting supply—not demand—is the key to fixing housing🧠 Tips, Tricks & Strategies SegmentPractical advice for anyone thinking about buying a home:Why your primary residence should not be treated as an investmentWhy staying in a home at least 10 years often makes the math workWhen relocating may make financial senseHow to choose a home that allows you to grow and age in placeWhy attending open houses years in advance makes you a smarter buyerHow to spot good construction, smart layouts, and strong neighborhoods🎯 Key TakeawayHousing affordability isn’t about individual failure—it’s the result of policy decisions, economic forces, and timing. Understanding those forces allows you to make smarter decisions and plan more effectively for the future.ReferencesHomeownership TrendsHousing market deep freeze: The Fed successfully froze U.S. home prices for one year | FortuneMortgage Rate History: 1970s To 2025 | BankrateUnited States House Price Index YoY
Transcribe →How to Plan for a Bear Market - Ep #102
Jan 1500:15:27Tap to summarizeThe stock market can feel like a rollercoaster—especially when the drops are steep. Declines of 20% or more are known as bear markets, and while they can be frightening, they’re also a normal part of investing.In this episode, I explain why bear markets shouldn’t be feared, how often they really occur, and—most importantly—what actions investors should (and shouldn’t) take when they happen. Drawing on history, personal experience, and real-world examples, we’ll explore how emotional decisions can derail long-term success and how proper planning can help you stay on track.You’ll also hear a powerful story from my own past investment mistakes during the 2007–2009 financial crisis, and why staying invested matters more than trying to time the market.In the Tips, Tricks, and Strategies segment, I’ll share a practical bear market investment strategy designed to help you make good things happen—even when markets feel overwhelming.In this episode, you’ll learn:What defines a bear market and how often they occurWhy bear markets are a normal (and necessary) part of investingThe biggest mistake investors make during market downturnsHow time horizon impacts bear market strategyWhy planning before a downturn is criticalA simple framework to approach bear markets with confidenceBear markets may be scary—but with the right plan, they can also be opportunities.Thank you for listening. Now, on with the show. 🎙️
Transcribe →DIY Can be Dangerous - 10 Questions to Ask Before Hiring a Financial Advisor + A Cash Management Strategy - Ep #101
Jan 100:17:07Tap to summarizeHappy New Year, and welcome to episode 101 of the One for the Money podcast!This episode airs on January 1st—a perfect moment for financial resolutions and fresh starts. If getting back on track with your money is one of your goals for the new year, this episode will help you make one of the most important decisions in your financial life: whether to hire a financial advisor, and how to choose the right one.In This EpisodeI’ll share the 10 essential questions you should ask when interviewing a financial advisor, including:Whether the advisor is a true fiduciaryHow they are compensatedHow often you’ll meetHow many clients they serveTheir education, experience, and credentialsWhether they review your tax return and estate documentsHow they manage their own financesAnd more insights that help you avoid conflicts of interest and ensure you’re hiring someone who will put your interests firstI’ll give personal examples from my own practice at Better Planning Better Life, as well as real stories of people who tried to “DIY” their finances and paid the price.Why This MattersFinancial mistakes are often invisible at first… but they compound over time. And while many of us hesitate to discuss money, the consequences of mismanaging it can follow us for decades. A great advisor can help you avoid costly errors, stay on track, and make informed decisions with confidence.Tips, Tricks & StrategiesIn the final segment, I’ll explain a simple but powerful cash-management strategy to protect your purchasing power from inflation—the silent thief.You’ll learn:How much cash to keep in reservesWhere to keep it for maximum yieldWhen to consider higher-yield instrumentsWhy doing nothing with your cash can quietly cost you thousandsEpisode HighlightsThe danger of default 401(k) mistakesWhy relying only on the company match is rarely enoughHow financial “invisibility” leads people to miss opportunitiesWhat transparency from an advisor should look like (including how I show clients my own plan)Who This Episode Is ForAnyone considering hiring a financial advisorAnyone unhappy or uncertain about their current advisorDIY investors wondering if they’re missing somethingAnyone wanting a smarter, more intentional financial plan for 2025Anyone with too much cash sitting in low-yield bank accountsTakeawayA better life is the result of better planning. Asking the right questions—and using the right cash strategy—can help you start the year with clarity, confidence, and momentum.ReferenceHiring a Financial Adviser: 10 Questions to Ask | Kiplinger
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