In this episode, Dr. Preston Cherry challenges traditional budgeting and introduces reverse budgeting, a method that prioritizes personal values and guilt-free spending while ensuring financial security. He outlines a five-step approach: knowing your retirement number, automating finances, covering fixed costs, enjoying discretionary spending, and reviewing regularly. His approach emphasizes a holistic, flexible path to financial wellness.

Takeaways:
• Budgets can feel restrictive
• Reverse budgeting prioritizes paying yourself first
• Aligning money with values boosts well-being
• Guilt-free spending is possible
• Regular financial check-ins matter

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Disclosure: episodes are educational only, not advice. Review our disclosures here: https://www.concurrentfp.com/disclosures/

In this episode, Dr. Preston Cherry dives into how the concept of wealth is evolving and why being a millionaire isn't what it used to be.

With inflation and rising living costs, the financial landscape has shifted. He shares key insights on income, net worth, and how to focus on your unique financial path rather than comparing yourself to others. Dr. Cherry also debunks wealth myths and offers practical strategies for long-term financial success.

Takeaways:
• $1 million isn’t enough anymore
• Only 10% of Americans are millionaires
• Inflation weakens money’s value
• Focus on your financial journey
• Define wealth beyond dollars

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In this episode, Dr. Preston Cherry breaks down the essentials of equity compensation—RSUs, ISOs, NQSOs, and ESPPs. He explains how taxes and behavioral biases can influence your decisions and offers smart strategies to maximize your equity benefits while avoiding common traps.

Takeaways:
• Know your tax impact
• Sell RSUs to cover taxes
• ISOs can lower taxes
• ESPPs offer discounted stock
• Plan ahead to win big

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In this episode, Dr. Preston Cherry breaks down how business owners can choose and use retirement plans to boost income, cut taxes, and maintain their lifestyle. He covers Simple IRAs, SEP IRAs, Solo 401ks, and cash balance plans while explaining key tax-saving strategies, like diversifying tax exposure and using Health Savings Accounts (HSAs).

Takeaways:
• Maximize income & tax savings
• Choose the right plan
• Solo 401ks = big contributions
• Cash balance = higher limits
• HSAs = triple tax benefits

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In this episode, Dr. Preston Cherry explores how couples can turn financial tension into teamwork. He highlights the emotional side of money talks and shares a framework for better communication, including regular check-ins, understanding each other's views, and resolving conflicts without fighting. The goal? Less stress, more financial harmony.

Takeaways
• Money conflicts cause stress
• Emotions shape money talks
• Check-ins ease tension
• Teamwork beats compromise
• Shared goals build harmony

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In this episode, Dr. Preston Cherry explains how to handle market corrections with the Core and Satellite strategy. He stresses the importance of a diversified portfolio to manage risk and highlights how downturns create investment opportunities. He also shares tips on staying calm and strategic instead of panicking during market shifts.

Takeaways
• Corrections are frequent (every 1–1.5 years)
• Diversification reduces risk
• Opportunities arise in downturns
• Strategy beats panic
• Smart investing pays off

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In this episode, Dr. Preston Cherry breaks down market volatility, explaining crashes, corrections, and bear markets. He highlights why understanding these shifts helps manage emotions during downturns. He also shares key strategies like dollar cost averaging and staying calm instead of panic selling.

Key Points:
• Volatility is normal
• Corrections = 10% drop
• Bear markets = 20%+ drop
• Timing the market fails
• Stay invested, don’t panic

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Information on the Life Money Balance Podcast is for educational purposes only, not financial advice. Review our disclosures: https://www.concurrentfp.com/disclosures/

In this episode, Dr. Preston Cherry breaks down key retirement savings benchmarks for your 40s, 50s, and 60s. He explores the emotional challenges of saving—like anxiety and comparison—and shares practical tips to build financial freedom. His advice? Adjust your lifestyle, diversify income, and stop procrastinating. Stay focused on your own financial journey and take action now.

Key Points:
• Savings benchmarks: 3x salary by 40, 6x by 50, 6-8x by 60
• Gen X median retirement savings: $100K
• Life is uncertain—plan accordingly
• Save more without sacrificing lifestyle
• Procrastination hurts financial progress

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Information on the Life Money Balance Podcast is for educational purposes only, not financial advice. Review our disclosures: https://www.concurrentfp.com/disclosures/

In this episode, Dr. Preston Cherry breaks down why emergency funds are a must—even for high earners. He explains that they act as financial protection, not an investment, and shares smart strategies to build and maintain one. From how much to save to balancing cash reserves with investments, this conversation clears up common myths and offers practical advice for managing money wisely.

Key Points:
• Emergency fund = security
• It’s insurance, not investment
• Automate savings for consistency
• Too much cash = fear
• Balance liquidity & growth

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Information on the Life Money Balance Podcast is for educational purposes only, not financial advice. Review our disclosures: https://www.concurrentfp.com/disclosures/

In this episode, Dr. Preston Cherry breaks down estate planning trusts and why they matter for high-income and high-net-worth folks—not just the uber-wealthy. He explains three key types: Revocable Living Trusts, Irrevocable Life Insurance Trusts, and Charitable Remainder Trusts, showing how they help protect assets, reduce taxes, and ensure your wishes are honored.

Key Points:
• Avoid probate hassles
• Stay in control (Revocable Trusts)
• Reduce estate taxes (Irrevocable Trusts)
• Support charities & save (Charitable Trusts)
• Ensure asset protection

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Information on the Life Money Balance Podcast is for educational purposes only, not financial advice. Review our disclosures: https://www.concurrentfp.com/disclosures/