Love, your Money - Wealth, Money, and Financial Advisor for Women

Welcome to episode 230 of Love, your Money! In this episode, we're continuing the conversation on the financial implications of divorce. And today, I'm joined by Certified Divorce Financial Analyst®, Karen Sparks.

Karen is a speaker, author, and founder of Divorce Financial Strategists. For over 10 years, she has assisted families (as well as legal and financial professionals) in navigating a divorce, dividing and allocating personal assets, and preparing couples for success in the next chapter of their lives.

Having experienced a divorce herself, Karen found her calling and wanted to combine her expertise in the finance world as a CFO to fill a much-needed gap: helping others get through an incredibly emotional period of their lives and retain what is rightfully theirs.

In our conversation, you'll learn why it's critical to locate and gather necessary documentation immediately, where important assets are held, and how many years' worth of documents are needed to settle a divorce when a family business is involved.

Here’s what you’ll find out in this week’s episode of Love, your Money:
 

• How an expert analyzes the personal situation
• Actions that derail an amicable divorce from happening
• Advice on where to start when an divorce is inevitable
• How long a divorce is kept a secret from the spouse
• The importance of documenting everything
• Divorce scenarios where a CDFA will add value

Show Notes

To get access to the full show notes, including all the resources mentioned, visit: https://hendershottwealth.com/podcast/karen-sparks

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Hendershott Wealth Management, LLC and Love, your Money do not make specific investment recommendations on Love, your Money or in any public media. Any specific mentions of funds or investments are strictly for illustrative purposes only and should not be taken as investment advice or acted upon by individual investors. The opinions expressed in this episode are those of Hilary Hendershott, CFP®, MBA.

Welcome to episode 229 of Love, your Money! In this episode, I’ll be talking about a topic that impacts many people, the financial implications of divorce. This episode will serve as a primer for next week’s interview with an expert in this field, so be sure to check out part 2 next week.

I’ve seen how divorce affects people’s lives firsthand after watching my parents each divorce and get remarried more than once before I was old enough to vote. I’ve also seen the impact of a divorce in my professional career with many clients over the years. When a marriage ends, it can be devastating for many reasons. Emotions are running high, which can create tension and resentment when you’re trying to settle debts and divvy up your assets.

So today, I’ll be sharing some do’s and don’ts on how to proceed when faced with a life-changing event during a divorce. You’ll hear actionable advice on the value that a professional like a CDFA (Certified Divorce Financial Analyst) can add to your situation and tips on starting the next phase of your life with a “clean slate.”

Here’s what you’ll find out in this week’s episode of Love, your Money:

• Avoid taking on new debts and being vindictive
• If the debt is in your name, then you’re responsible!
• The emotional toll of going through a divorce
• When to hire a professional like a CDFA
• The value of having a professional help divide assets
• How proper financial planning helps start over with a clean slate

Show Notes

To get access to the full show notes, including all the resources mentioned, visit: https://hendershottwealth.com/podcast/financial-implications-of-divorce-p1

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Hendershott Wealth Management, LLC and Love, your Money do not make specific investment recommendations on Love, your Money or in any public media. Any specific mentions of funds or investments are strictly for illustrative purposes only and should not be taken as investment advice or acted upon by individual investors. The opinions expressed in this episode are those of Hilary Hendershott, CFP®, MBA.

Welcome to episode 228 of Love, your Money! In this episode, I’m diving into a hot topic in today’s economy: Navigating the real estate and interest rate markets in 2024.

I’ll cover some market trends and insights to help you make better-informed decisions with confidence so that you can do what’s best for you, your family, and your financial situation.

You’ll also learn why renting isn’t necessarily a bad thing, how the media reports on inflation can be misleading, and the pros and cons of renting vs buying a home. Let’s face it, buying a home is one of the most important financial decisions you’ll ever make, and if you’re thinking about making a change to your housing situation, this episode is for you.

Here’s what you’ll find out in this week’s episode of Love, your Money: 

• Why waiting for another recession could be a mistake
• Buying a home with a plan to refinance is more than a gamble
• How the media reports on inflation can be misleading
• The pros and cons of renting vs home ownership
• How expenses of home ownership impact your ROI

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Show Notes

To get access to the full show notes, including all the resources mentioned, visit: https://hendershottwealth.com/podcast/renting-vs-buying-home

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Hendershott Wealth Management, LLC and Love, your Money do not make specific investment recommendations on Love, your Money or in any public media. Any specific mentions of funds or investments are strictly for illustrative purposes only and should not be taken as investment advice or acted upon by individual investors. The opinions expressed in this episode are those of Hilary Hendershott, CFP®, MBA.

Welcome to episode 227 of Love, your Money! Today, we’re back with a special Money Coaching episode that includes segments from a two-part coaching session with my client.

The reality is, many people struggle with charging the rates they deserve. There are tough questions that don’t always have easy answers. Questions like: What should I charge my friends and family? How do I communicate an increase in my rates? How do I know what the market rate that I should be charging is if I’m providing a better service?

In today’s episode, you’ll hear how I tackled those questions with one of my clients. You’ll walk away with a clearer idea of how to price your offers, how to win those negotiations, and how to raise your rates and keep your clients happy.

*Please note, to protect my clients’ identities and respect their privacy, I’ll be using pseudonyms for all money coaching episodes.

Here’s what you’ll find out in this week’s episode of Love, your Money:

• Charging friends and family for your work
• Setting the stage with my client’s goals
• How to deal with financial “haters”
• Pricing your offers
• Tips for negotiating your prices
• Handling your business and personal finances

Show Notes

To get access to the full show notes, including all the resources mentioned, visit: https://hendershottwealth.com/podcast/increase-your-rates

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Hendershott Wealth Management, LLC and Love, your Money do not make specific investment recommendations on Love, your Money or in any public media. Any specific mentions of funds or investments are strictly for illustrative purposes only and should not be taken as investment advice or acted upon by individual investors. The opinions expressed in this episode are those of Hilary Hendershott, CFP®, MBA.

Welcome to episode 226 of Love, your Money! In this episode, I’m joined by retirement expert Anne Lester. Anne’s 30-year career in finance is beyond impressive. She was the Head of Retirement Solutions at JP Morgan, where she managed $125 billion in target date assets and traveled around the country to share her expertise.

Anne’s mission is to help others prepare for a secure and successful retirement. She’s a regular contributor to Bloomberg TV, CNBC, The Wall Street Journal, and The New York Times and is preparing to release her new book, “Your Best Financial Life.”

In today’s episode, you’ll hear about the different “money types” and how to understand yours to save smarter. You’ll also hear how to clear the psychological hurdles of saving for retirement, actionable advice for building a healthy portfolio, and how to reshape harmful investing behaviors.

Here’s what you’ll find out in this week’s episode of Love, your Money:

• Anne’s robust financial resume
• Why Millennials own less wealth
• Rewiring your brain for delayed gratification
• How to outpace inflation
• Why to automate your investing 
• Different money types 
• Minimizing the emotional stress of investing 
• How to approach retirement investing
• Advice for people who are behind on saving
  
  

Show Notes

To get access to the full show notes, including all the resources mentioned, visit: https://hendershottwealth.com/podcast/anne-lester

Follow Hilary on:
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Hendershott Wealth Management, LLC and Love, your Money do not make specific investment recommendations on Love, your Money or in any public media. Any specific mentions of funds or investments are strictly for illustrative purposes only and should not be taken as investment advice or acted upon by individual investors. The opinions expressed in this episode are those of Hilary Hendershott, CFP®, MBA.

Welcome to episode 225 of Love, your Money! This episode is a continuation of the opportunities that exist to save you, the business owner, money and headaches with proper tax planning and preparation. Or, in the words of today’s guest, “No April Surprises.”

Tim Thompson is a CPA and Certified Profit First Professional. He enjoyed a 15-year career in manufacturing and operations with Fortune 100 companies and also owned a small family business. Now, he helps his clients understand their goals and creates comprehensive plans that reveal and diffuse income tax landmines before they suddenly appear.

Today, we’ll discuss the biggest challenges that business owners face with income taxes and how planning throughout the year and not just before the tax deadline reduces stress about your tax bill. You’ll get great advice on how to become your tax professional’s favorite client and why AI, ChatGPT and social media shouldn’t be your “trusted” tax advisor.

Here’s what you’ll find out in this week’s episode of Love, your Money:

• The biggest complaints that business owners have with taxes.
• Avoiding April surprises by planning all year long.
• The power of good oversight of your money.
• The difference between bookkeeping and taxes.
• How to be your tax professional’s BFF
• The worst tax advice on social media
• Tips for handling a tax audit 

Show Notes

To get access to the full show notes, including all the resources mentioned, visit: https://hendershottwealth.com/podcast/tim-thompson

Follow Hilary on:
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Hendershott Wealth Management, LLC and Love, your Money do not make specific investment recommendations on Love, your Money or in any public media. Any specific mentions of funds or investments are strictly for illustrative purposes only and should not be taken as investment advice or acted upon by individual investors. The opinions expressed in this episode are those of Hilary Hendershott, CFP®, MBA.

Welcome to episode 224 of Love, your Money! In this episode, I’m showing you how to turn taxes from a hassle to an opportunity in just 20 minutes.

For decades, I’ve helped clients optimize taxes for both themselves and their businesses. Today’s episode will teach you the legal planning opportunities you can consider utilizing every tax season instead of dreading it.

You’ll get tips on determining the right legal structure for your business, how to handle deductions, and planning opportunities for making your life easier for future tax deadlines.

Here’s what you’ll find out in this week’s episode of Love, your Money:

• The virtues of paying taxes 
• The 3 phases of tax returns
• The tax importance of your business structure
• Legitimate tax deductions 
• Different types of tax credits 

Show Notes

To get access to the full show notes, including all the resources mentioned, visit: https://hendershottwealth.com/podcast/tax-planning-opportunities

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Hendershott Wealth Management, LLC and Love, your Money do not make specific investment recommendations on Love, your Money or in any public media. Any specific mentions of funds or investments are strictly for illustrative purposes only and should not be taken as investment advice or acted upon by individual investors. The opinions expressed in this episode are those of Hilary Hendershott, CFP®, MBA.

Today, I’m sharing another Money Coaching session with one of my clients to give you actionable insights to grow your wealth.

In this episode, my client and I dive into the financial nitty-gritty of her salon business as she focuses on growing her retirement assets in her mid-50s. You’ll hear about passing costs through to clients, insights for smarter IRA contributions, and balancing between maximizing your revenue and giving back to your employees and your community.

If retirement is in the back of your mind — and you’re feeling behind — today’s episode might be just what you need.

*Please note, to protect my clients’ identities and respect their privacy, I’ll be using pseudonyms for all money coaching episodes.

Here’s what you’ll find out in this week’s episode of Love, your Money:

• The finances of my client’s salon business
• Giving back vs. running a business
• Getting clear about financial goals
• A money journaling exercise 
• What is your business really about? 
• Acting as a mentor to your employees 
• How to handle profit-sharing in your business
• Planning for the future 
• Taxes and retirement contributions

Show Notes

To get access to the full show notes, including all the resources mentioned, visit: https://hendershottwealth.com/podcast/better-retirement

Follow Hilary on:
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Hendershott Wealth Management, LLC and Love, your Money do not make specific investment recommendations on Love, your Money or in any public media. Any specific mentions of funds or investments are strictly for illustrative purposes only and should not be taken as investment advice or acted upon by individual investors. The opinions expressed in this episode are those of Hilary Hendershott, CFP®, MBA.

Welcome to episode 222 of Love, your Money! In this episode, I’m talking with Stefanie Gass. Stefanie is a Christian business and podcast coach, boundary boss, boy mom, multi-six-figure CEO, and host of “Online Business for Christian Women,” a top 25 globally ranked business podcast. Stefanie’s mission is to help women grow their online businesses and make money online, using podcasting.

In her 20s, Stefanie embraced the corporate grind. After making 6-figures by age 27, she transitioned to network marketing. Again, she worked her way up, reaching the top 1% of her company. But once Stefanie got there — she still felt empty. And she realized it was time for a change.

Today, Stefanie and I discuss the pitfalls that come with tying your identity to your income. You’ll also hear about how to build a business that aligns with your purpose, how to create a simple (but effective) sales funnel, and why podcasting can be the answer to growing your presence, your business, and your client base.

Here’s what you’ll find out in this week’s episode of Love, your Money:

• The danger of making income your identity
• Finding work that has purpose 
• How Stefanie built an $800/hour coaching biz
• The simple sales funnel
• How to stand out in the saturated podcast world
• Do you need social media to grow your business?
• Advice for handling the stress you face today

Show Notes

To get access to the full show notes, including all the resources mentioned, visit: https://hendershottwealth.com/podcast/stefanie-gass

Follow Hilary on:
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Hendershott Wealth Management, LLC and Love, your Money do not make specific investment recommendations on Love, your Money or in any public media. Any specific mentions of funds or investments are strictly for illustrative purposes only and should not be taken as investment advice or acted upon by individual investors. The opinions expressed in this episode are those of Hilary Hendershott, CFP®, MBA.

In this episode, I’m talking with Cathy Heller, a remarkably impressive woman who has built an 8-figure spiritual teaching business and enjoyed tremendous success as an author, coach, and podcaster.

Cathy’s podcast, “The Cathy Heller Show,” has 40 million downloads and has been featured in publications like Forbes, Huffington Post, and Inc. Magazine. Her guests include A-listers like Tony Robbins, Matthew McConaughey, Barbara Corcoran, Malcolm Gladwell, and Rachael Ray, just to name a few.

Today’s episode is all about aligning your inner self to grow your wealth. You’ll hear about the self-perception and relationship challenges wealthy women face, how to turn your energy into a magnet for abundance, and the potential of shaping the world with your wealth.

Here’s what you’ll find out in this week’s episode of Love, your Money:

• How Cathy became a spiritual teacher
• The misconceptions many women have about money
• The unexpected challenges of making more money
• How to connect with the center of you
• What meditation practice should you pursue? 
• Voting with your checkbook 
• Cathy’s 12-week Boldly Abundant workshop
• Interviewing Harry Connick Jr. 

Show Notes

To get access to the full show notes, including all the resources mentioned, visit: https://hendershottwealth.com/podcast/cathy-heller

Follow Hilary on:
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Subscribe to Love, your Money
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Hendershott Wealth Management, LLC and Love, your Money do not make specific investment recommendations on Love, your Money or in any public media. Any specific mentions of funds or investments are strictly for illustrative purposes only and should not be taken as investment advice or acted upon by individual investors. The opinions expressed in this episode are those of Hilary Hendershott, CFP®, MBA.