Caffeine And Cash Flow with Michael Schulte

We hear a lot of half-truths in the financial world, not necessarily because people try to make misleading statements, but because sometimes a simple statement just doesn’t quite tell the whole story.

Join us for part one of this discussion as we cover common misconceptions about market losses, portfolio fees, mortgage interest, diversification, and bonds. We’ll provide insights on why these half-truths can be misleading and how to navigate them for better financial planning.

Here’s what we discuss in this episode:

• Half-truth #1: The market always goes up in the long run, so don’t worry about individual losses.
• Half-truth #2: The fees in your portfolio are less than 1 percent.
• Half-truth #3: If you have a low interest mortgage, you’re better off investing than paying off the house early.
• Half-truth #4: Diversification is THE key to investing.
• Half-truth #5: Bonds will significantly reduce the risk in your portfolio.

Learn more: https://caffeinecashflow.com/

Get in touch with Michael-

Web: https://www.westpacwealth.com/team/michael-schulte

Email: [email protected]

Phone: 702-767-4897

Paying for college has become increasingly harder with rising costs. Starting early for your child's or grandchild's education can make a big difference and reduce the need for excessive borrowing later. In this two-part series, we’ll cover the key aspects of college financial planning from both the parent and grandparent perspectives.

Part one broke down the costs associated with college, how much they’ve risen, and how to determine if the value is worth it over time. Now we’re focused on the strategies for saving money to cover rising tuition costs, determining who should pay for college, and the various tools available for funding education.

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

• How much and how early should you be saving?
• What are the best savings vehicles or accounts for college savings?
• Should you risk your own retirement to help fund your child’s education?

Learn more: https://caffeinecashflow.com/

Get in touch with Michael-

Web: https://www.westpacwealth.com/team/michael-schulte

Email: [email protected]

Phone: 702-767-4897

Paying for college has become increasingly harder with rising costs. Starting early for your child's or grandchild's education can make a big difference and reduce the need for excessive borrowing later. In this two-part series, we’ll cover the key aspects of college financial planning from both the parent and grandparent perspectives.

From understanding the true purpose of college to comparing the opportunity costs and exploring various saving methods, this first episode is packed with practical advice to help you plan effectively for one of life's biggest expenses. We’ll break down how the costs have risen significantly over time and whether it’s truly worth the price at many schools.

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

• Details on tuition costs at different public and private schools and how much that’s changed over the past few decades.
• The purpose of college is to increase your future earnings but at what cost?
• The importance of strategic planning when it’s time to make your decision.

To learn more about the cost of college, visit this link: https://educationdata.org/average-cost-of-college-by-year#:~:text=In%201999%2D2000%2C%20tuition%20at,schools%2C%20from%20%244%2C975%20to%20%248%2C274.

Learn more: https://caffeinecashflow.com/

Get in touch with Michael-

Web: https://www.westpacwealth.com/team/michael-schulte

Email: [email protected]

Phone: 702-767-4897

In any sport, it is often the smallest, most consistent actions that make the biggest difference. In today’s episode, Michael shares insights from his experience coaching youth baseball to show that this philosophy is just as important in financial planning as it is on the field. Listen in as he shares 15 “little things” that everyone should focus on in their finances to achieve winning personal finance.

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

• Do you have a clear understanding of what portion of your assets and income are protected from lawsuits?
• Do you know what percentage of your income you are currently saving and investing for the future?
• Do you understand when and how you can access the money inside your retirement account?
• Do you know how to measure the risk inside your investments and retirement accounts?

Learn more: https://caffeinecashflow.com/

Get in touch with Michael-

Web: https://www.westpacwealth.com/team/michael-schulte

Email: [email protected]

Phone: 702-767-4897

Are you ready to take your financial planning to the next level? In this episode of Caffeine and Cash Flow, Michael and Ben explore the timeless wisdom of legendary coach, John Wooden. Wooden's Pyramid of Success has guided countless individuals to greatness, both on and off the court, and has some powerful takeaways for your everyday life and financial planning.

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

• A little background on John Wooden’s career at UCLA + his definition of success
• The foundational concepts of hard work, camaraderie, respect, loyalty, cooperation, and enthusiasm
• How self-control, alertness, initiative, and perseverance contribute to leadership and success
• Continuous skill development, humility in learning, and fostering team spirit
• Maintaining poise through any event, building genuine confidence, and aiming for competitive greatness

John Wooden's Pyramid of Success: 

https://www.thewoodeneffect.com/pyramid-of-success/

Learn more: https://caffeinecashflow.com/

Get in touch with Michael-

Web: https://www.westpacwealth.com/team/michael-schulte

Email: [email protected]

Phone: 702-767-4897

When it comes to investing, the term 'diversification' is often tossed around, but what does it truly mean to diversify your portfolio? Is it as easy as sticking to the S&P 500 index the to achieve wealth management success? In this episode, we’ll answers these questions and dive into the latest returns by asset class to help you better understand what diversification truly means.

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

• Does owning the S&P500 make you diversified? Not really.
• A look through last year’s returns by asset class along with historical returns.
• The need for constant evaluation and just consistent checkup on your portfolio.

Learn more: https://caffeinecashflow.com/

Get in touch with Michael-

Web: https://www.westpacwealth.com/team/michael-schulte

Email: [email protected]

Phone: 702-767-4897

Are you a business owner who's ever wondered about the best way to exit your venture when the time comes? You're not alone. Exit planning is a critical yet often overlooked aspect of entrepreneurship. Today we’ll try to help unravel the complexities of exit planning and discuss the different options most people consider when it comes time to sell the business.

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

• Why exit planning is so difficult for business owners.
• Selling to a third party and what that process consists of.
• Why selling to a strategic buyer could be your best option.
• What you should consider if you want to sell to a family member or employee?
• Other creative options we discuss with clients.

Source for the data in today's episode: https://caffeinecashflow.com/wp-content/uploads/2024/05/The-Why-and-How-of-Exit-Planning-with-polling-questions.pptx

Learn more: https://caffeinecashflow.com/

Get in touch with Michael-

Web: https://www.westpacwealth.com/team/michael-schulte

Email: [email protected]

Phone: 702-767-4897

Each generation is currently navigating a unique part of the retirement planning experience. With many Baby Boomers preparing for the transition into retirement and Generation X close behind, these two generations are asking a handful of financial planning questions.

In today’s episode, we’ll share insights into the unique concerns that echo across different age groups. These are the retirement questions that each generation is asking. We’ll continue the conversation on our next episode as we talk about the younger generations and the questions they need to be asking.

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

• How do I manage the risks of market volatility as I approach retirement?
• What steps can I take to address rising healthcare costs in my retirement plan?
• Should I consider downsizing or relocating in retirement?
• How much do I need to have saved to actually retire?
• Should I pay off my mortgage before retiring

Learn more: https://caffeinecashflow.com/

Get in touch with Michael-

Web: https://www.westpacwealth.com/team/michael-schulte

Email: [email protected]

Phone: 702-767-4897

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

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

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

Learn more: https://caffeinecashflow.com/

Get in touch with Michael-

Web: https://www.westpacwealth.com/team/michael-schulte

Email: [email protected]

Phone: 702-767-4897

Have you ever considered how you’ll safeguard your financial legacy for the next generation? Today we want to dive into some of the technical aspects of estate planning and the crucial role it plays in retirement strategy. Estate planning can be as complex as it is important, but Michael will demystify the process, providing clarity on how to shield your legacy and make sure your assets flow smoothly to your heirs.

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

• What are the main things you want to protect against when creating a trust?
• How to avoid probate court, which can be a long and expensive process.
• Why most people we work with benefit from a revocable trust.
• Tax strategies to consider to protect as much of your estate as you can.

Learn more: https://caffeinecashflow.com/

Get in touch with Michael-

Web: https://www.westpacwealth.com/team/michael-schulte

Email: [email protected]

Phone: 702-767-4897