Bitcoin and gold are two assets often hailed as safe havens and reliable stores of value. I explore whether bitcoin and gold really deliver the security investors hope for, or if, instead, they’re more about speculation than true investment. 

I’m helping you to look at the hard data and science behind financial decisions. Whether you’re curious about market volatility or searching for a dependable way to safeguard your wealth, this episode is packed with practical insights about the pros and cons of investing in Bitcoin or gold.

[06:05] Bitcoin and gold are speculative, limited by supply and demand.

[09:29] Bitcoin is an unreliable store of value.

[13:57] Volatility and diversification in investing.

[16:58] Is gold really a safe haven for your money?

[20:18] Gold commercials push for sales due to high commissions, not safety.

[22:30] Investing relies on data and science to build successful portfolios, focusing on controlling taxes, expenses, and risk.

What makes you feel secure? Fresh from a nine-night family trip to a volleyball tournament in Dallas, I’ve realised that my real safe haven isn’t a lockbox or a password, it’s my home and the daily routine I return to. More than that, his family represents his ultimate store of value, the core “asset” he’s committed to nurturing year after year.

For me, investing is just one facet of a broader stewardship, protecting not only wealth but also the relationships and routines that bring lasting fulfillment.

Clients often ask me, “Can Bitcoin act as a reliable store of value?” so I’ve dug into the numbers. Since 2010, the annualized volatility of Bitcoin has been a staggering 76.9%, nearly five times greater than the already-risky Russell 3000 index, which clocks in at 15.8%.

Over the same period, Bitcoin has endured 27 separate 10% drops, 10 plunges of 30% or more, and five catastrophic 70% crashes. By contrast, the mainstream US stock market has only seen six 10% drops and a single 30% drawdown.

Investing in bitcoin with this type of volatility is not a store of value. Investing in Bitcoin is speculation. The wild swings may excite thrill-seekers, but anyone seeking stability is likely to be disappointed.

What about gold, the classic safe-haven asset? Gold has enjoyed some positive years, up 60% of the time since 1970, but it's hardly a guarantee. That means in roughly four out of every ten years, gold investors have faced losses.

Meanwhile, the S&P 500, ironically, the very market from which gold investors typically flee, has delivered positive returns 80% of those years.

Plus, the marketing of gold is driven by high-commission sales tactics, not genuine concern for investor safety. Beware of those “buy gold now” ads; they exist to line the pockets of sellers, not to deliver real security to buyers.

Rather than relying on speculative assets, I prefer a scientific, data-driven approach to investing. At Fortress Planning Group, this means diversified exposure to thousands of companies striving to increase their value through hard work and innovation.

My framework focuses on dimensions of higher expected return, not chasing the latest shiny object or giving in to fear-based pitches. I prefer to adjust risk through a prudent mix of stocks and bonds, finding a portfolio that matches your personal risk tolerance and the required rate of return.

The bedrock of real security lies in controlling what you can: expenses, taxes, and risk.

True security comes not from betting on volatile assets but from a disciplined, evidence-based investment plan, and from investing in your family and daily life. As you consider your own safe havens and stores of value, follow the data, seek out trustworthy advice, and build systems that support both your financial and personal well-being.

Bitcoin: A Crumby Way to Save For Later by Kristi Higgins

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The Best In Wealth Podcast is hosted by Scott Wellens. Scott Wellens is the principal at Fortress Planning Group. Fortress Planning Group is a registered investment advisory firm regulated by the US Securities and Exchange Commission in accordance and compliance with securities laws and regulations. Fortress Planning Group does not render or offer to render personalized investment or tax advice through the Best In Wealth Podcast. The information provided is for informational purposes only and does not constitute financial, tax, investment or legal advice.

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Let’s unpack six of the top retirement misconceptions, from whether it is okay to splurge in retirement, to the necessity of paying off your mortgage before you retire, and the real risks that retirees face beyond just a stock market crash. 

With a focus on helping family stewards make smart decisions for a secure financial future, I share practical advice, real-life scenarios, and encouragement to help you confidently prepare for and enjoy your retirement years.

If you want to separate fact from fiction and build a retirement plan that truly fits your life and goals, then this episode is for you. 

[04:45] Debunking common myths.

[09:43] Donate now for tax benefits and immediate impact.

[10:54] Spending in retirement is encouraged to enjoy life and create memories, rather than hoarding savings.

[17:34] Diversified portfolios mitigate financial risk during market downturns.

[20:12] Stay vigilant against fraud by protecting your personal information.

Retirement is often framed as the finish line in your financial journey, but the path leading up to and through that milestone is cluttered with well-intentioned advice, social media sound bites, and downright misleading myths.

As Scott Wellens, certified financial planner and host of the Best in Wealth podcast, points out in episode 260, it’s time for successful family stewards to challenge conventional wisdom and make decisions grounded in reality, not rumors.

Let’s unpack and expand on six of the most common retirement myths, using Scott’s insights to guide your way toward a smarter, more satisfying retirement.

Many savers believe that a single splurge in retirement, a long-awaited RV, a dream vacation, or a lavish family gathering, could derail their entire retirement plan. If you’ve saved diligently and want to use a portion for a one-time purchase, the impact on your annual withdrawal can be minimal.

For those following the “4% rule," buying a $50,000 RV from a $3 million portfolio reduces sustainable annual withdrawals by only about $2,000, a small sacrifice for a lifelong dream.

Retirement is about enjoying the fruits of your labor. With proper planning and a clear understanding of your cash flows, strategic splurges are not only possible but can enrich your retirement experience.

It’s noble to want to support causes after you are gone, but waiting to give can rob you of witnessing the impact your generosity brings. Giving while alive has both tangible and intangible benefits: not only do you receive immediate tax deductions and may reduce potential estate taxes, but you also get a front-row seat to the good your money is doing.

A thoughtful plan lets you balance living well and giving generously today, maximizing both legacy and personal fulfillment.

Is hoarding your savings really the best way to reward yourself after a lifetime of work? Many retirees spend less than they could, leading to regrets about missed opportunities. The ultimate goal is to utilize your resources to create lasting memories, whether that’s through travel, experiences with loved ones, or acts of generosity.

Do not let fear lead to deprivation. With a flexible plan and clear spending guidelines, you can confidently enjoy and share what you’ve built.

Being mortgage-free sounds ideal, but it’s not a strict requirement. Many retirees successfully manage their remaining mortgages as part of their retirement strategy. Don’t rashly withdraw large sums from tax-deferred accounts to pay off a mortgage, which could trigger an unnecessarily high tax bill.

Evaluate your circumstances, and consider a phased approach or maintaining a low-interest mortgage alongside a diversified portfolio.

Reverse mortgages once carried a shady reputation, but increased regulation has made them a much safer tool. While not for everyone, reverse mortgages can offer a critical safety net, especially for those planning for longevity, unexpected expenses, or wanting to front-load spending in the early, active years of retirement.

Work with a fiduciary advisor to determine if a reverse mortgage fits into your personalized retirement plan.

Markets can be volatile, but Scott highlights that portfolio diversification and strategic withdrawal plans shield most retirees from a single crash becoming catastrophic. Instead, the growing threat is fraud and scams, especially as retirees become more vulnerable to sophisticated fraudsters.

Stay vigilant against scams, practice good digital hygiene, and educate yourself and your loved ones on how to protect personal information.

The myths surrounding retirement can cause unnecessary stress, fear, and missed opportunities. By debunking these misconceptions and working with trustworthy, fee-only fiduciary advisors, you can approach retirement with confidence: ready to spend, give, and enjoy your wealth without regret.

6 More Retirement Financial Myths to Avoid by Sheryl Morningstar

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The Best In Wealth Podcast is hosted by Scott Wellens. Scott Wellens is the principal at Fortress Planning Group. Fortress Planning Group is a registered investment advisory firm regulated by the US Securities and Exchange Commission in accordance and compliance with securities laws and regulations. Fortress Planning Group does not render or offer to render personalized investment or tax advice through the Best In Wealth Podcast. The information provided is for informational purposes only and does not constitute financial, tax, investment or legal advice.

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In this episode, inspired by my own family life, I am exploring the "holy trinity of assets": time, health, and money. Financial wealth alone does not guarantee a fulfilling future; you also need to be intentional about your health and your relationships. I share practical ways to extend the magical period of life where you can enjoy all three assets, without sacrificing your well-being in the pursuit of wealth. 

Tune in to hear my strategies for prioritizing your health, making the most of your time, and building wealth that enriches every stage of life. Get ready to rethink your priorities and be inspired to make changes that will let you enjoy not just a long life, but a long life full of vitality and purpose.

[00:00] My perspective on how to prepare for life's best stage

[05:35] The first stage of Life is youth: abundant time and health, but little money

[09:35] Stage two: Prioritize health over wealth, but balance both

[11:15] Focus on the big health priorities: exercise, eat better, and sleep better

[16:03] How to spend when markets are chaotic

[19:44] Prioritize key aspects of life to improve well-being

When you think about building wealth and securing your future, what comes to mind? For most, it's a picture filled with investment portfolios, retirement accounts, and property. But money is just one piece of a much larger puzzle. To truly thrive and make the most of our time on earth, we must learn to value and actively nurture not just financial assets but also our time and our health.

Tony Isola’s article, "The Holy Trinity of Assets," divides life into three main stages:

Youth:

This is a period rich with time and health. As kids, we possess endless energy and countless hours to fill, even if we are broke. Despite lacking financial resources, we are wealthy in ways money cannot buy.

Midlife:

For many, midlife brings growing financial stability and, often, good health. The catch? Time becomes scarce. Pursuing career goals, raising families, and climbing the professional ladder quickly fill our calendars.

Old Age:

Retirement can bring a return of time and (hopefully) sufficient money. However, health often begins to slip. The dreams of finally enjoying life can be hampered by physical limitations that decades of neglect may have fostered.

There is a magical, fleeting window between midlife and old age when you can possess all three assets: health, time, and money. The real goal is to extend this stage as long as possible.

We need to be disciplined and intentional to maximize this golden intersection of good health, time, and wealth. Here’s how:

Many high achievers invest tirelessly in growing their financial resources, but your health deserves the same, if not more, attention. When illness arises, the most common wish is for more good years, not more dollars. If you would not neglect your savings, do not neglect your body.

Research and my own experience show that consistent movement and strength training are vital, especially as we age. A simple, actionable approach is to aim for at least 30 minutes of exercise daily. Walking briskly, resistance training, or even bodyweight exercises can maintain and enhance muscle mass, joint health, and vitality.

Our modern environment makes unhealthy eating easy. Scott emphasizes the importance of choosing whole, protein-rich foods over highly processed carbohydrates. This doesn’t mean an extreme diet is necessary; focus on small, sustainable changes: increase protein, reduce processed snacks, and be mindful of what you put on your plate.

A cornerstone of well-being is adequate sleep. Protecting seven to eight hours each night helps your body repair, your mind recharge, and your immune system function at its best. It is not just about living longer, it is about living better, every day.

While markets, world events, and even certain aspects of our health are unpredictable, there is much you can control. Be deliberate about where you spend your energy and attention. Optimize your finances, yes, but do not let that come at the expense of quality time or physical vitality.

There will always be chaos and things outside our control. But by taking charge of your health, time, and money, you set yourself up to live longer and enjoy more years filled with purpose and joy. As Scott’s wife cheers from the volleyball stands, “Be ready!” Ready to claim the best stage of your life, starting now. 

The Holy Trinity Of Assets - A Teachable Moment by Tony Isola 

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The Best In Wealth Podcast is hosted by Scott Wellens. Scott Wellens is the principal at Fortress Planning Group. Fortress Planning Group is a registered investment advisory firm regulated by the US Securities and Exchange Commission in accordance and compliance with securities laws and regulations. Fortress Planning Group does not render or offer to render personalized investment or tax advice through the Best In Wealth Podcast. The information provided is for informational purposes only and does not constitute financial, tax, investment, or legal advice.

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Do downturns in the stock market inevitably lead to down years? On the show this month, I am walking you through an analysis of U.S. market trends over the past two decades, illustrating how downturns, even severe ones, often do not spell disaster for annual returns. I will also share what savvy family stewards can do to weather these turbulent times and potentially capitalize on them.

From practical strategies like Roth conversions and strategic rebalancing to steering clear of emotionally driven decisions, this episode is packed with insights to help you take family stewardship wealth to the next level. Tune in to see how a long-term, data-driven outlook can lead to more confident investing, regardless of market swings. 

[3:31] Do downturns lead to down years?

[8:22] This is a volatile year for US stocks, but international companies did better.

[11:44] Stay invested; the market rebounds quickly.

[14:15[ Post-crash market rebound patterns.

[18:43] My guide to strategically rebalancing your portfolio.

Between 2005 and 2024, the U.S. stock market witnessed only three negative years out of twenty, a testament to its resilience. Despite experiencing several downturns during those years, market recovery was the norm. For instance, although 2020 began with a staggering 35% downturn due to the COVID-19 pandemic, it ended 21% up.

Similarly, in 2011, despite a 20% downturn during the year, the market concluded with a positive return. This historical perspective highlights the fleeting nature of downturns and underscores the importance of maintaining a disciplined approach to investing during turbulent times.

A critical question for investors is whether downturns inevitably result in negative annual returns. Over the past twenty years, analysis reveals that downturns rarely dictate an entire year's trajectory. 17 out of the last 20 years ended positively, despite intra-year downturns ranging from 6% to as high as 35%.

The takeaway here is significant: short-term market fluctuations do not always translate into negative returns, emphasizing the importance of a long-term perspective and patience.

Many investors, spooked by temporary market declines, resort to withdrawing their investments, potentially locking in losses. Instead, remaining invested allows one to benefit from eventual recoveries. Data shows that three-day drops, like the 11% decline recorded recently, are usually followed by substantial gains over the subsequent year, three years, and five years. Investors who maintain discipline through these downturns often see their portfolios grow significantly when the market rebounds.

For those unsure how to act during a downturn, consider these proactive measures:

Avoid Constant Monitoring:

Constantly checking your investment portfolio during a downturn can lead to emotional decision-making. Once your strategy is in place, trust your plan and avoid frequent account reviews that can heighten anxiety and fear, potentially driving impulsive actions.

Roth Conversions:

Market downturns present an opportune time for Roth conversions, allowing investors to transfer investments into a Roth IRA at reduced valuations. As the market recovers, gains in the Roth IRA grow tax-free, maximizing long-term benefits.

Tax Loss Harvesting:

When markets dip, investors can sell losing investments to offset capital gains taxes. This tax-efficient strategy enables the reinvestment of proceeds in similar securities to maintain the desired asset allocation while benefiting from potential tax reductions.

Strategic Rebalancing:

Another critical step is rebalancing portfolios by purchasing undervalued stocks during a downturn. By strategically realigning asset allocations, investors set the stage for potential gains when the market rebounds. Navigating market downturns confidently requires understanding their historical context and implementing practical strategies. These periods, though challenging, are fertile ground for growth when approached with discipline and foresight.

Whether through Roth conversions, tax loss harvesting, or rebalancing, taking controlled, strategic actions can position family stewards to capitalize on eventual market recoveries. By focusing on what can be controlled and maintaining a long-term outlook, investors align themselves with historical trends that favor resilience and recovery in the stock market.

Brian D. Cayon on LinkedIn 

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The Best In Wealth Podcast is hosted by Scott Wellens. Scott Wellens is the principal at Fortress Planning Group. Fortress Planning Group is a registered investment advisory firm regulated by the US Securities and Exchange Commission in accordance and compliance with securities laws and regulations. Fortress Planning Group does not render or offer to render personalized investment or tax advice through the Best In Wealth Podcast. The information provided is for informational purposes only and does not constitute financial, tax, investment, or legal advice.

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Did you know that you can pay someone to give you advice on what to bet on? They can look at historical data like rushing and passing yards, touchdowns, and more—but so can we. Honestly, historical data can only tell us so much. If you bet on a game, you are really making a lucky guess.

Is it really so different with the stock market? When it comes to predictions—whether for the Super Bowl or the S&P 500—there is a lot of uncertainty. So, let’s break down how predictions are made and whether or not they should guide our investment decisions.

[bctt tweet="Predictions are everywhere—whether for the Super Bowl or the stock market. But how reliable are they? In episode 257 of Best in Wealth, we explore the dangers of betting on expert predictions and why diversification is key for your portfolio." username=""]

Outline of This Episode

[1:13] The Super Bowl: What you can bet on?

[2:30] Why are we trusting betting experts?

[7:50] Expert predictions for 2025

[11:32] Reviewing predictions from 2024

[18:06] How do we build a portfolio?

Expert predictions for 2025

Most of the top analysts—Oppenheimer, Wells Fargo, Deutsche Bank, and others—are bullish, predicting that the S&P 500 will rise in 2025. The consensus seems to suggest that the market will average a 10% return, which has been the long-term norm. Oppenheimer Asset Management stands out with an optimistic prediction of 18.4%, implying that 2025 could be a great year for the market.

However, these predictions come with a significant caveat—the stock market, especially the S&P 500, is notoriously volatile. We have seen massive swings in the past, from a 38% drop in 2008 during the Great Recession to a 25% rise in 2024.

BCA Research, on the other hand, predicts a 25.8% drop, highlighting just how different expert opinions can be. This stark difference—43% apart between two top analysts—raises an important question: if the experts cannot agree, how reliable are their predictions? It is a reminder that while these predictions may be based on data, the unpredictability of the market remains ever-present.

[bctt tweet="Experts predict the future, but how often are they right? In episode 257 of Best in Wealth, we dive into the unpredictability of stock market forecasts and share why building a diversified portfolio is your best bet for long-term success." username=""]

Reviewing predictions from 2024

Did the experts hit the mark last year? The S&P 500 went up around 25% (with dividends) and 23.3% without dividends.

Oppenheimer, the most bullish of the experts, predicted a modest 8% increase, but the market ended up being nearly three times better than that!

Many other firms—Goldman Sachs, BMO, Bank of America—also predicted positive returns, but the actual outcome was far beyond their expectations.

In a striking example, some analysts predicted that the S&P 500 would finish the year with negative returns—forecasts that couldn’t have been further from reality.

This discrepancy illustrates an important point: even the most well-educated and experienced analysts can be drastically wrong. It shows that predictions are based on what experts know at the time, but they can't account for the countless variables that influence market behavior throughout the year, such as political changes, economic developments, and unforeseen global events.

How do financial stewards build a portfolio?

The answer is diversification. Family stewards—those who manage wealth and invest for future generations—should focus on creating a well-rounded portfolio that can weather any storm. Rather than betting on predictions, diversify your investments across a wide range of asset classes: large-cap stocks, small-cap stocks, international investments, emerging markets, real estate, and bonds.

By spreading your investments out, you position your portfolio to perform well under different market conditions, regardless of what the experts predict. Instead of trying to outguess the market, family stewards invest for the long term, with a strategy that includes a mix of assets to capture growth while minimizing risk.

By building a diversified portfolio, you are not relying on a crystal ball or hoping for the best. Instead, you are ensuring that you are prepared for whatever comes, from market highs to lows.

[bctt tweet="Can we trust stock market predictions? In episode 257 of Best in Wealth, we look at why relying on expert forecasts can be risky and how diversification can provide more stability for your financial future. Don’t gamble with your portfolio!" username=""]

Resources Mentioned

Prediction Season by Dimensional Fund Advisors

Connect With Scott Wellens

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The Best In Wealth Podcast is hosted by Scott Wellens. Scott Wellens is the principal at Fortress Planning Group. Fortress Planning Group is a registered investment advisory firm regulated by the US Securities and Exchange Commission in accordance and compliance with securities laws and regulations. Fortress Planning Group does not render or offer to render personalized investment or tax advice through the Best In Wealth Podcast. The information provided is for informational purposes only and does not constitute financial, tax, investment or legal advice.

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Today, I am sharing something that my family has fallen in love with—The Clever Fox Dated Planner. This planner goes beyond simple scheduling with features like a gratitude section, vision board, habit tracker, and tools for setting and achieving SMART goals. It is designed to help you reflect, plan, and improve every week. If you are ready to take control of your time and goals, let me tell you all about it!

[bctt tweet="Start 2025 strong with the Clever Fox Dated Planner! This isn’t just a planner—it’s a tool to reflect, set SMART goals, track habits, and create a vision for your year. My family loves it, and I know you will too. #SMARTGoals #Habits #Goals #Planner" username=""]

Outline of This Episode

(1:09) I hope you had a wonderful Christmas and New Year!

(2:36) The planner that we bought for the entire family

(15:45) Spend some time zeroing in on your goals for 2025

The planner that we bought for the entire family

We bought the Clever Fox Dated Planner with habit trackers for goal setting and time management for everyone in the family. Though we were a bit worried that they would not be excited, surprisingly, everyone loved it.

But why do I love this planner so much? Because of everything it includes:

How-to Guide: It comes with a pamphlet, “How this planner works.” They tell you where to begin, what to think about, and share examples.

Gratitude and Self-Awareness: This section gives you space to write down what you are grateful for and passionate about.

Daily Rituals: This is an opportunity to think about the skills you want to learn and habits you want to adopt. Maybe a ritual is drinking more water, meditating, or going to the gym.

Affirmations: Short sentences with an optimistic tone stated in the present tense, i.e., “I am an architect of my life.” They give you confidence.

Vision Board: They provide a two-page outlay where you can create your vision and get clear on what you want from life.

Goals: You are given space to write three goals for each of these sections: health & fitness, business & career, personal development, relationships, family & friends, fun & recreation, and spirituality.

Mind-Map: This section helps you take the big goals you have written down and break them down into smaller pieces.

Monthly Page: This is a full page just like a typical planner (months January through January). It includes areas to write notes and goals.

Weekly pages: This allows you to write out the week’s main goals, priorities, etc.

Habit Tracker: You can write down things you want to turn into habits. It allows you to check a box for each day.

Each weekly section includes an area where you can write down how you will improve the next week. What did you not do that you should have? How can you improve the next day and week?

[bctt tweet="Why do I love the Clever Fox Planner? It’s packed with features: Gratitude & affirmations, vision board, goal-setting tools, weekly reflection, and a habit tracker. It’s everything you need to stay organized and crush your 2025 #goals. #Gratitude #BestInWealth #Planner " username=""]

Implement SMART goals

I try to record an episode about goal-setting at the beginning of every year and always encourage you to make sure that your goals are SMART:

Specific

Measurable

Achievable

Relevant

Time-Bound

Your goal might be to pay off a credit card by the end of the year. Maybe it is to run a half-marathon by June 15th. Here is my challenge: Write out five SMART goals you want to achieve in 2025 (and it will be far easier to track with a planner like this!).

[bctt tweet="Set yourself up for success in 2025 with SMART goals! Make sure your goals are Specific, Measurable, Achievable, Relevant, and Time-Bound. This approach will keep you focused and motivated throughout the year. Start planning today! #SMARTGoals #GoalSetting" username=""]

Resources Mentioned

Clever Fox Dated Planner 

How to Build Your Family Fortress, Ep #156

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The Best In Wealth Podcast is hosted by Scott Wellens. Scott Wellens is the principal at Fortress Planning Group. Fortress Planning Group is a registered investment advisory firm regulated by the US Securities and Exchange Commission in accordance and compliance with securities laws and regulations. Fortress Planning Group does not render or offer to render personalized investment or tax advice through the Best In Wealth Podcast. The information provided is for informational purposes only and does not constitute financial, tax, investment or legal advice.

What is an HSA? Who can invest in one? What can you use the money for? Why do I love them? Why shouldn’t you spend the money you save in an HSA? I will unravel all of these questions in this episode of Best in Wealth.

[bctt tweet="Why don’t I want you to spend the money you’ve saved in your #HSA? I share the surprising truth in this episode of Best in Wealth! #retirement #Investing #RetirementPlanning #FinancialPlanning " username=""]

Outline of This Episode

[1:08] It is time to plan your 2025 goals

[3:14] What is an HSA?

[4:48] How can I invest in an HSA?

[6:43] Why I like HSA accounts

[7:43] How much can you save in an HSA?

[9:13] What can I spend the money on?

[11:11] What if you cannot afford to save in an HSA?

[12:13] Don’t spend the money in your HSA

The basics of an HSA

An HSA is a health savings account. Do not confuse it with a flexible savings account, or FSA. An FSA allows you to save money—taken out of your paycheck with a tax deduction—that can be used for healthcare expenses. The money must be used within a certain timeframe. If you leave your employer, that money is gone.

However, an HSA does not require you to spend the money if you do not want to. If you leave your employer, that HSA account is yours for life. To qualify for an HSA, you must have a high-deductible insurance plan with a minimum annual deductible of $1,650 and an out-of-pocket maximum of $8,300 or more in 2025 (for families, it’s $3,350 and $16,600).

[bctt tweet="What are the basics of HSAs? Why do I love them? Learn the amazing details in this episode of Best in Wealth. #WealthManagement #Retire #Investments" username=""]

Why I like HSA accounts

Some of the benefits I have stated already: You get a tax deduction for every dollar you put in. Secondly, there are no income limit caps on who is allowed to have an HSA. HSA accounts allow you to take that money with you wherever you go and you do not have to spend it.

Secondly, an HSA allows you to save quite a bit of money. An individual is allowed to contribute $4,300 in 2025. Families can contribute up to $8,550. If you turn 55 in 2025, you can contribute an extra $1,000. If you are in the 24% tax bracket, you will save $2,300 in taxes in 2025 by putting that money away in an HSA. Your deduction will change based on the tax bracket you are in.

What can you spend the money on? Healthcare-related expenses (except the monthly premium). It can go toward copays, out-of-pocket expenses, coinsurance, medicines, etc. Medical expenses add up quickly.

Why I do not want you to spend the money in your HSA

The simple answer? Because you can invest the money. Many HSA accounts allow you to invest the money once you have saved $1,000. If you start saving $8,000+ a year for the next 20 years, think of how much it will grow by the time you retire. It is a great way to fund your healthcare in retirement.

The next best part? Let’s say you contributed $250,000 and it grew to $500,000. When that money is used on healthcare expenses, you do not have to pay taxes on that growth.

Once you retire, and go on Medicare, HSA money can be used to pay for Part B and D expenses. In 2025, the starting cost of Medicare is $185 a month. If your Modified Adjusted Gross Income is high, you may be paying a lot more for Medicare.

If you do not end up spending the money on healthcare, once you turn 65, you can use the money on whatever you want—with one caveat. You will have to pay taxes on those dollars (just like a traditional IRA or 401K).

Listen to the whole episode for all of the details!

[bctt tweet="HSAs offer amazing tax benefits. But why else do I love them? I cover the details in this episode. #retirement #Investing #RetirementPlanning #FinancialPlanning " username=""]

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The Best In Wealth Podcast is hosted by Scott Wellens. Scott Wellens is the principal at Fortress Planning Group. Fortress Planning Group is a registered investment advisory firm regulated by the US Securities and Exchange Commission in accordance and compliance with securities laws and regulations. Fortress Planning Group does not render or offer to render personalized investment or tax advice through the Best In Wealth Podcast. The information provided is for informational purposes only and does not constitute financial, tax, investment or legal advice.

We invest in large companies, small companies, value companies, international companies, emerging markets, etc. We practice discipline when investing in all of these asset classes. If we want 20% of a portfolio allocated to large value, we maintain that percentage.

We also practice strategic rebalancing. If something has an upward momentum, we set tolerance zones. If we go above or below those tolerances, we buy or sell. We practice discipline. Why? I share more in this episode of Best in Wealth.

[bctt tweet="Discipline in asset allocation means sticking to your plan—no matter the headlines. Find out why this matters in today’s investing landscape. 🎧 #AssetAllocation #InvestingDiscipline #BestInWealth" username=""]

Outline of This Episode

[1:02] The importance of reading the full story

[3:13] Why we practice discipline in asset classes

[8:00] Taking a look at the big picture

[11:02] Developed markets vs emerging markets

[13:23] A disciplined approach to investing matters

Why we practice discipline in asset classes

By the end of the third quarter of 2024, the S&P 500 was up almost 20%. It is up another 6% since then. The S&P 500 is one of our best-performing asset classes. If we are just reading the headline, “The S&P 500 is doing the best,” we might think we should put more money in. But hindsight is 2020.

And if we would have listened to the experts, many of them said that small-caps were going to perform the best in 2024. But small-caps are only up a little over 10% after the third quarter. It has also gone up 6–8% since then but is still underperforming the S&P 500.

If we would have listened to the experts, we would be tempted to put more money into small-caps. But that is not the right decision either. We need to remain disciplined to our plan for each asset class.

[bctt tweet="The S&P 500 is up, but that doesn't mean we chase momentum. Strategic rebalancing is key! Learn how to stay disciplined in your investment choices. #InvestingStrategy #AssetClasses #WealthManagement" username=""]

Taking a look at the big picture

Looking back 95 years, the small-cap index has done better than the large-cap index. We call this the small-cap premium. However, it comes with more risk. Because of the risk, investors demand a higher average return for owning smaller companies.

Our portfolios skew more large than small because of the risk. However, we do want to capitalize on some of those returns—but not because of headlines.

If you choose something riskier, it will not always do better. On average, stocks do better than bonds because they are riskier—but it does not mean stocks always beat bonds.

Developed market small-caps on average bean developed markets large-caps by about a percent and a half per year. Small-caps over the last 20 years perform better than large-caps in emerging markets.

Remember, past performance is no guarantee of future results. Have small-caps underperformed large-caps in the recent past? Yes. Does that mean we abandon small-caps? No? Does that mean the premium is gone? We do not think so.

A disciplined approach to investing matters

We need to investigate every headline that we read because they don’t tell the full story. If we’re just reading the headlines, we might make an emotional decision about asset allocation. We cannot try to guess which asset class will do the best. When we do that, we are putting our family and our future in jeopardy. A disciplined approach to investing matters. Learn more in this episode of Best in Wealth.

[bctt tweet="Reading the full story helps you make smarter choices. Get the full breakdown on disciplined investing in today’s episode of Best in Wealth! #InvestingInsights #BestInWealthPodcast" username=""]

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Audio Production and Show notes by

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The Best In Wealth Podcast is hosted by Scott Wellens. Scott Wellens is the principal at Fortress Planning Group. Fortress Planning Group is a registered investment advisory firm regulated by the US Securities and Exchange Commission in accordance and compliance with securities laws and regulations. Fortress Planning Group does not render or offer to render personalized investment or tax advice through the Best In Wealth Podcast. The information provided is for informational purposes only and does not constitute financial, tax, investment or legal advice.

Ever wondered where you rank financially among Americans? Curious about what it takes to join the top 5% in income or net worth?

Every three years, the Fed surveys the finances of American households, tracking assets, debt, and more. One of the things they cover is who landed in the top 5% of both income earned and net worth.

In this episode of Best in Wealth, I will share the income that puts you in the top 5% of income earners by age, what lands you in the top 5% of net worth by age, and why none of it matters. Don’t miss it!

[bctt tweet="Are you in the top 5% of income-earners or net worth? Learn what it takes in this episode of Best in Wealth! #PersonalFinance #FinancialPlanning #Wealth #WealthManagement " username=""]

Outline of This Episode

[1:15] Getting into the University of Wisconsin Madison

[3:21] The income that puts you in the top 5% of income

[11:12] Individual versus household income

[12:00] The income that puts you in the top 5% of net worth

[17:21] Are you in the top 5% of income or net worth?

The income that puts you in the top 5% of earned income by age

Do you land anywhere in these brackets?

18-29: If you earn $156,732 or more, you are in the top 5%. You are just launching your career and starting to earn an income.

30-39: If you earn $292,927 or more, you are in the top 5%. You are getting more established in your career and perhaps started a business or received a promotion.

40-49: If you earn $404,261 or more, you are in the top 5%. Maybe you continued to receive promotions or your business grew.

50-59: If you earn $598,825 or more, you are in the top 5%. The 50s are your highest potential for earnings years. Maybe you sold your business or became the CEO of a company.

60-69: If you earn $496,139 or more, you are in the top 5%. You may be retired and living on social security and your investments during these years.

70 or older: If you earn $350,215 or more, you are in the top 5%. Most people in their 70s probably are not working any longer and that income is being derived from Social Security, pensions, and investments.

What does it take to be in the top 5% of households? If you earn $499,000 or more, at any age, you are in the top 5% of all income earners.

[bctt tweet="What income puts you in the top 5% of earned income by age? I hash out the numbers in episode 253 of Best in Wealth! #wealth #retirement #investing" username=""]

The income that puts you in the top 5% of net worth

What does the top 5% of net worth look like in each age group?

18-29: $415,700 or higher

30-39: $1,104,100 or higher

40-49: $2,500,000 or higher

50-59: $5,001,600 or higher

60-69: $6,684,220 or higher

70 or older: $5,860,400 or higher

Your net worth is far more important than your income. You can make all of the money in the world but if you do not save anything, your net worth will never increase. It will stay zero.

Secondly, you can earn a lot less than the top 5% of income earners and still save enough to be in the top 5% of net worth.

Are you in the top 5% of income or net worth?

It is okay if you do not fall into any of these categories—they can be very skewed. Numerous factors impact these numbers. Secondly, these numbers don’t matter. If you have the right retirement plan for you, you will have the retirement of your dreams regardless of whether or not you land in the top 5%.

[bctt tweet="Are you in the top 5% of income or net worth? Does it matter? Let’s hash it out in this episode of Best in Wealth! #PersonalFinance #FinancialPlanning #Wealth #WealthManagement " username=""]

Resources Mentioned

Survey of Consumer Finances (SCF)

Here Are the Net Worth and Income That Put You in the Top 5% of American Households by Age

Connect With Scott Wellens

Schedule a discovery call with Scott

Send a message to Scott

Visit Fortress Planning Group

Connect with Scott on LinkedIn

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Fortress Planning Group on Facebook

 

Audio Production and Show notes by

https://www.podcastfasttrack.com

The Best In Wealth Podcast is hosted by Scott Wellens. Scott Wellens is the principal at Fortress Planning Group. Fortress Planning Group is a registered investment advisory firm regulated by the US Securities and Exchange Commission in accordance and compliance with securities laws and regulations. Fortress Planning Group does not render or offer to render personalized investment or tax advice through the Best In Wealth Podcast. The information provided is for informational purposes only and does not constitute financial, tax, investment or legal advice.

Did you know that anyone can say they are a financial advisor? They may not be licensed or experienced. So how do you know who to trust?

In this episode of Best in Wealth, I will break down the three types of people who put “financial advisor” on their business cards, what the letters after a financial advisor's name mean, and how a fee-only financial advisor is compensated for their services.

Knowing all of these things will help you determine what type of advisor is right for you to help you achieve a successful retirement.

[bctt tweet="Did you know that anyone can say they’re a financial advisor? They may not be licensed or experienced. So how do you know who to trust? Find out in episode 252 of Best in Wealth! #Retirement #Investing #PersonalFinance " username=""]

Outline of This Episode

[1:08] High expectations do not leave room for satisfactory outcomes

[6:17] The 3 types of people who put “financial advisor” on their business cards

[19:14] How fee-only financial advisors charge for their services

[22:34] What do the letters after a financial advisor's name mean?

[24:17] Work with someone you can build a connection with

The 3 types of financial advisors

Three different types of people typically put “financial advisor” on their business cards:

Insurance Sales Representative: They are required to be licensed to discuss or sell insurance. Their main goal is to sell you life insurance (typically whole life insurance that can be invested and earn dividends and be used for retirement). Is someone who can only sell life insurance acting in your best interest all of the time? How could they be? They make a commission on the insurance product that they sell you.

Registered Representative/Broker-Dealer: They take an exam to be “registered” to sell securities, mutual funds, life insurance policies, etc. They are paid by commission, much like insurance representatives. Or they will recommend a mutual fund where they get a percentage (annual 12B1 fees and more). They are also not fiduciaries.

Investment Advisor Representative: They must take a securities exam that also covers laws required to act as a fiduciary. An investment advisor is prohibited from collecting commissions. The fees they collect come directly from the client. They can call themselves fee-only representatives.

I am a fee-only Investment Advisor Representative. I do not co-mingle with insurance sales representatives or registered representatives. It removes any conflict of interest. I am not beholden to any company. I must act in the best interest of my clients. Most financial advisors are dually registered. They may have an insurance or broker license.

Listen to find out what questions you have to ask an advisor to find out if they are strictly an Investment Advisor Representative.

[bctt tweet="In this episode of Best in Wealth, I’ll break down the three types of people who put “financial advisor” on their business cards and why it matters. #FinancialPlanning #RetirementPlanning #WealthManagement" username=""]

How fee-only financial advisors charge for their services

There are four primary ways a fee-only advisor might get paid:

Hourly: You hire a financial advisor to create a financial or retirement plan and you pay them for the hours it takes to do the job. It is a short-term relationship.

One-time planning: A one-time plan may cost you $5,000–$7,000, which you pay once. They deliver the plan and you write them a check. It is a short-term relationship.

Monthly retainers: The advisor might charge a couple hundred dollars a month, depending on the complexity of your plan. This may be great for someone who needs help with budgeting, college loans, setting up 529 plans, etc.

Assets under management: This is when you are charged an annual fee that is typically a percentage of your assets under management. The money is taken directly out of your brokerage account(s), which the advisor is handling for you. This is how most fee-only financial advisors work.

Fortress Planning Group operates using the assets under management approach.

What do the letters after a financial advisor's name mean?

There are three gold standards that actually matter:

CFP: This is short for “Certified Financial Planner,” which is what I am. A CFP must have a college degree to deliver holistic planning.

CFA: This is short for “Certified Financial Analyst,” which is a difficult designation to achieve. These are experts in investing.

CPA: This is short for “Certified Public Accountant,” these are experts in taxes.

There are hundreds of other designations. But if you are looking for letters, look for one of these three. If you want someone who can help advise you on investments, taxes, retirement, insurance, etc. you want a CFP.

[bctt tweet="How do fee-only financial advisors charge for their services? Learn how it works in this episode of Best in Wealth! #FinancialPlanning #RetirementPlanning #WealthManagement" username=""]

Connect With Scott Wellens

Schedule a discovery call with Scott

Send a message to Scott

Visit Fortress Planning Group

Connect with Scott on LinkedIn

Follow Scott on Twitter

Fortress Planning Group on Facebook

Audio Production and Show notes by

https://www.podcastfasttrack.com

The Best In Wealth Podcast is hosted by Scott Wellens. Scott Wellens is the principal at Fortress Planning Group. Fortress Planning Group is a registered investment advisory firm regulated by the US Securities and Exchange Commission in accordance and compliance with securities laws and regulations. Fortress Planning Group does not render or offer to render personalized investment or tax advice through the Best In Wealth Podcast. The information provided is for informational purposes only and does not constitute financial, tax, investment or legal advice.