Modern Wealth Management

In the latest installment of Modern Wealth Management, Darrick and Ray welcome Greg Johnson, CEO of Rubicon Crypto, onto the show to highlight the ever-changing nature of crypto currency.

Given the buzz surrounding crypto currency as we roll into 2022, Greg addresses a handful of frequently asked questions and why it can be a valuable tool within the wealth planning toolkit.

This episode is jam packed with helpful information that you won't want to miss! So sit back, relax, and enjoy another thought-provoking conversation.

Timecodes:

0:06 - Overview on the topic and the guest featured on today's episode

1:45 - Darrick and Ray launch into the discussions surrounding crypto with their clients

5:05 - Greg Johnson joins the show and gives a high level overview on crypto currency

14:40 - The uncertainty surrounding this topic

22:13 - Technology's role in crypto currency and what to consider here

28:10 - How Bitcoin is still in its infancy

37:53 - How much should someone consider investing into crypto currency?

45:48 - Compliance and regulation's place within crypto currency

52:50 - Recapping the most important points surrounding crypto currency for interested investors

56:00 - Closing remarks

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A new year brings a new batch of tax proposals that could leave you scratching your head.

In the latest installment of Modern Wealth Management, we bring you a special edition of the show that features a unique guest from the tax planning realm. Darrick is joined by Lisa Curry, Partner at Katz, Sapper & Miller, to address a wide variety of year end tax strategies you can incorporate into your own portfolio.

Additionally, Lisa showcases the current tax proposals in existence and how you should be preparing in case some are passed.

There's plenty of beneficial information packed into this episode that you don't want to miss!

Timecodes:

0:06 - Overview on this special edition of the show

0:59 - Setting the scene on the overall importance behind tax planning within your wealth plan

3:00 - Introducing Lisa Curry of Katz, Sapper & Miller

5:00 - Using a business to take care of the family means

8:15 - "I've heard about this. What does that mean for me?"

12:15 - Increasing tax rates on corporations will still likely impact you

16:05 - The top individual income tax rate and the proposed changes

22:35 - Capital gains and what to expect on this front

29:40 - What is going to change?

34:18 - The backdoor (or mega) ROTH and where it enters the picture

38:54 - Selling your business and how that can impact your taxable income

42:06 - What can wealthy business owners do right now to optimize their plan

47:15 - The value associated with a stress test

50:45 - Closing remarks

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The bad financial decisions you avoid can be just as important as the good financial moves you make. And while no one is perfect, highly successful people and families tend to avoid major slip ups.

In the latest installment of Modern Wealth Management, Darrick and Ryan explore some wealth-destroying mistakes that high successful people do a good job of sidestepping.

This episode is packed with great tips and is sure to leave you taking a page from the playbook of the super rich!

Timecodes:

0:03 - Overview on the topic of the episode

1:52 - Does the average individual take measures to avoid costly mistakes?

3:15 - There are opportunities to learn lessons from the wealth planning strategies of the super rich

5:02 - The grass isn't always greener on the other side

8:12 - Clearly define your goals and stay on the proper track to achieve them

11:34 - Hire the best professionals to support your goals

16:00 - The characteristics of consummate professionals and those that will propel you forward

19:14 - Utilizing second opinions and stress tests to ensure you're plan is on track

23:00 - The difference between a second opinion and a stress test

25:02 - How someone can get in touch with Darrick's team to discuss this topic further

27:04 - Why we study the super rich

28:10 - Closing remarks

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In the latest installment of Modern Wealth Management, Darrick explores the complex nature of trusts and why it's beneficial to have a trust protector in place.

When you have a trust, it's overseen by a trustee. But, who is keeping an eye on the trustee to ensure he or she is not exploiting you? If the answer is "no one" or "I don't know," it may be time to consider adding a trust protector to your team of advisors.

Listen as Darrick shares his first-hand experience with trusts and why trust protectors can be an extremely beneficial addition to your fiduciary team of experts.

Timecodes:

0:04 - Overview on the topic of the day

2:08 - The various parties involved in a trust

8:27 - Grantors typically don't realize they need to be on guard during this process

10:30 - How a trust protector can help with the fees typically associated with the trustee

13:08 - The overall role of the trust protector

17:06 - What happens when a trust protector recognizes that the trustee isn't operating effectively

19:38 - How someone would go about hiring a trust protector

20:46 - Summarizing the need for a trust protector

23:50 - Closing remarks

Connect with Darrick and Ray:

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Research shows that entrepreneurship can be one of the most effective ways to become wealthy. But, it takes a lot more than simply being a business owner to generate significant wealth.

In the latest installment of Modern Wealth Management, Darrick and Ray highlight the four key drivers of business and financial success, as well as personal commitments required to become wealthy.

Not only do Darrick and Ray work with an array of entrepreneurs in their wealth management business, but they themselves are entrepreneurs who built their company together.

So sit back, relax, and enjoy another enlightening conversation that is bound to leave you with some things to consider for your own wealth creation process.

Timecodes:

0:04 - Overview on the topic of the day

1:45 - Entrepreneurship is the main generator for significant wealth today

3:25 - The best practices of wealth entrepreneurs

5:35 - You need to have a commitment to achieve success overall

8:02 - It takes more than simply a commitment to achieve success

9:37 - How the overall quality of your business model will drive wealth creation

13:01 - Establishing industry connections and powerful relationships plays a major role as well

15:06 - The process of building a "dream team" of employees and maintain a high-quality team

18:28 - The willingness to engage with the right professionals

24:24 - Working with a wealth manager, who is familiar with entrepreneurship, is also a best practice

27:26 - Closing remarks

Connect with Darrick and Ray:

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Affluent individuals, families, and business owners want to make the best decisions regarding their wealth and the first decision usually deals with selecting a particular wealth manager. They want to make sure they are working with the best of the best, but how can you tell if a wealth manager truly is elite?

In the latest installment of Modern Wealth Management, Darrick and Ray explore an array of skills and characteristics of an elite wealth manager. Not only do they possess the highest level of financial acumen, but they understand the importance behind connecting with their clients on a human level.

So sit back, relax, and enjoy another enlightening conversation that will leave you wondering if your current wealth manager is at the elite level!

Timecodes:

0:05 - Episode overview and the topic of the day

1:50 - How are people supposed to know if a wealth manager truly lives up to their world-class reputation

4:30 - How an elite wealth manager handles investment management

10:00 - Where the wealth planning component comes into play as well

12:10 - What Darrick and Ray mean when it comes to "advanced planning"

17:46 - What should people be looking for in a wealth manager that claims to be elite

20:12 - Not all wealth managers incorporate the human element

22:50 - An example of Darrick and Ray forging a successful relationship with a given client

26:41 - The bottom-line on how Darrick and Ray approach their clients at Monon Wealth Management

30:10 - Closing remarks

Connect with Darrick and Ray:

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Life insurance isn't the most exciting financial topic, when compared to investment planning overall. However, it's actually one of the most flexible and versatile tools that you have within your wealth planning toolkit!

In the third installment of Modern Wealth Management, Darrick and Ryan explore the reasoning behind why you should incorporate life insurance into your overall wealth management strategy. When executed properly, life insurance can provide liquidity, leverage, and certainty to your financial well-being.

So sit back, relax, and enjoy another enlightening conversation where Darrick shares his insights, and even his own personal reasoning behind including life insurance into his wealth plan.

Timecodes:

00:05 - Overview on today's episode

02:05 - Why Darrick believes life insurance should play a role in someone's wealth plan

03:22 - Wealth planning overall is vitally important

04:30 - In wealth planning, the focus should be on the person and not the product

08:51 - The key roles life insurance plays within wealth planning overall

12:48 - The goals life insurance can help an individual or family achieve

17:54 - How life insurance can be used to help provide cash for a future need

19:42 - Life insurance policies that are influential and beneficial for business owners

21:30 - Life insurance shouldn't be viewed with a negative outlook

23:49 - Closing remarks

Connect with Darrick and Ray:

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In the second installment of Modern Wealth Management, Darrick and Ray explore the complex nature surrounding inheritances. The big question surrounding this topic is: Are your heirs ready to deal with the wealth you may be planning to pass on to them someday?

It's an unfortunate fact that inheritors often struggle with their windfalls in a way that can be hazardous to the overall wealth. It takes proper planning and clear communication to alleviate any potential problems that could occur with the inheritance itself, as well as the beneficiaries' spending habits afterwards.

We all understand the general process behind inheritances, but this episode unveils the intangible elements that come into play, especially when a significant level of wealth is being transferred.

So sit back, relax, and enjoy another enlightening conversation that sheds light on a topic we all thought we knew.

Timecodes:

00:05 - Show overview and recap of prior episode on stress testing process

02:00 - Are your heirs ready to deal with an inheritance?

04:40 - The internal and external conflicts that inheritors experience

07:35 - How Darrick and Ray begin with helping an heir address this process

11:27 - Examples of what successful individuals are doing when it comes to passing on their wealth

14:26 - Where families should begin to foster a sense of financial intelligence in their beneficiaries

23:40 - Things family matriarchs and patriarchs should be considering

30:10 - Who families should turn to for guidance on handling inheritances

32:40 - How the inheritance conversation plays a role in stress testing overall

34:45 - Closing remarks

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In the inaugural episode, we introduce you to our show host, Ryan Ruff, as well as Managing Partners of Monon Wealth, Darrick Hutchens and Ray Kramer.

With one of the most financially tumultuous years now behind us, there is a great deal of uncertainty surrounding finances. Whether it was the COVID-19 pandemic, the controversial Presidential Election of 2020, or other factors, many people are wondering how to responsibly position their finances for success in 2021.

Allow Darrick and Ray to help put your mind at ease and explain the benefits of stress testing. Through a robust and in-depth analysis, Darrick and Ray tap into their four decades of combined experience in the financial sector and review your personal or business finances to help calculate the right financial maneuvers given your future goals.

So sit back, relax, and enjoy a thought-provoking conversation surrounding a process you should be considering today for your own financial portfolio.

Timecodes:

00:05 - Show overview and introducing Darrick Hutchens and Ray Kramer

03:08 - What individuals and families should be doing right now

05:30 - Why this process is so valuable

08:00 - The three main ways that stress tests can be utilized

10:15 - An example of what prompted someone to discuss stress testing with them

18:13 - An example of how a stress test helped a client from making a mistake

23:36 - How Darrick and Ray tap into the human element during stress tests

28:56 - How their team gets deep into the heart of their clients' goals

32:23 - A lesson that can be learned from the super rich

34:40 - What the discovery process and initial questions look like

36:25 - What kind of analysis clients leave with after completing a stress testing process

40:43 - Closing remarks

Connect with Darrick and Ray:

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