Money Tree Investing

Have you thought about investing into space? Mark Boggett, CEO of Seraphim, shares the investment opportunities in the rapidly expanding space industry. He explains how innovations led by SpaceX dramatically lowered launch costs and increased access to space, catalyzing growth in satellite constellations and data-driven applications for defense, climate, and communications. He emphasizes that near-term investment potential lies in defense and climate-related uses of satellite data, rather than speculative ventures like space travel or asteroid mining. He also highlights the growing importance of sustainability, debris management, and more.

We discuss...

• Mark Boggett is a career technology investor who founded Seraphim Space, the world's first space-focused investment fund.
• Seraphim Space operates a global accelerator, a private venture fund, and a publicly listed growth fund on the London Stock Exchange.
• Boggett shifted focus to space investing after recognizing how technologies like AI, telecommunications, and 3D printing were transforming the sector.
• SpaceX revolutionized space access by reducing launch costs from $86,000 to $1,000 per kilogram and dramatically increasing launch frequency.
• Smaller, cheaper satellites now enable massive constellations that provide real-time Earth observation and global connectivity.
• Investment opportunities in space fall into three categories: upstream (launch and satellites), downstream (data and applications), and in-space (future lunar and interplanetary activities).
• The most investable areas today are defense and climate-related satellite data applications rather than speculative space travel or mining.
• The falling cost of launch is paving the way for large-scale space infrastructure, including future data centers powered by solar energy.
• Space debris is an emerging challenge, driving new industries focused on monitoring, avoiding, and removing defunct satellites.
• Regulatory changes now require satellite operators to deorbit defunct satellites within five years, accelerating growth in orbital cleanup services.
• Defense is a major driver of demand for satellite technology in intelligence, communications, navigation, and asset protection.
• The "in-space" category includes lunar landers, space stations, and eventual habitation or mining ventures, though these remain long-term prospects.
• NASA's new funding model relies on private companies like Axiom Space and Voyager to build commercial space stations.
• Boggett concludes that while long-term prospects like lunar mining are exciting, the current trillion-dollar opportunity lies in satellites, data, and communication serving Earth-based customers.

Today's Panelists:

• Kirk Chisholm | Innovative Wealth
• Phil Weiss | Apprise Wealth Management
• Douglas Heagren | Mergent College Advisors

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For more information, visit the show notes at https://moneytreepodcast.com/investing-into-space-mark-boggett-760

There are record levels of money market funds, but it doesn't mean quite what you think. Today we also explore recent market volatility sparked by Trump's brief tariff announcement and a sharp crypto sell-off that triggered stop-loss cascades. We also analyze seasonal trends, the rotation from mega-cap tech into value and small-cap stocks, and why most active managers underperformed the S&P 500 this year. We talk the importance of diversification, understanding risk tolerance, and viewing corrections as part of normal market cycles rather than reasons to panic.

We discuss...

• Markets experienced sharp volatility following Trump's brief tariff announcement and a cascading crypto sell-off.
• How stop-loss triggers and algorithmic trading can amplify short-term market moves.
• Gold and silver pullbacks are healthy corrections within a long-term bullish thesis on precious metals.
• Portfolio allocation and risk management are critical to surviving sharp market drawdowns.
• Seasonal patterns are examined and late-year volatility can set up strong year-end rallies.
• Underperformance of active managers relative to the S&P 500 comes from narrow market leadership.
• Don't chase short-term moves, instead focus on long-term positioning.
• We explore how investor psychology and herd behavior can magnify both rallies and declines.
• The episode touched on how retail investors often get whipsawed when reacting emotionally to news-driven moves.
• The conversation compared current market sentiment to prior bubbles in meme stocks and crypto.
• Diversification is the best protection against unpredictable volatility events.
• How market manipulation and liquidity gaps can distort short-term price signals.
• The discussion linked rising geopolitical uncertainty with the growing appeal of hard assets.
• We underscore the importance of having a clear thesis and sticking to it through market noise.
• Volatility should be viewed as opportunity, not danger, for prepared investors.

Today's Panelists:

• Kirk Chisholm | Innovative Wealth
• Phil Weiss | Apprise Wealth Management

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For more information, visit the show notes at https://moneytreepodcast.com/record-levels-of-money-market-funds-759

CPA Rachel Farris joins us to talk about how you can benefits from Puerto Rico's Act 60 tax incentives by becoming bona fide residents of the island. Rachel explains how the program was created to attract capital and talent to Puerto Rico, the rules around residency and post-move appreciation, and the common pitfalls people face when trying to qualify.

She also discusses lifestyle differences, cost of living, and more, as the Act requires genuine relocation and compliance with IRS rules to be done correctly.

We discuss...

• Rachel Farris explains Puerto Rico's Act 60 tax incentives and how they allow U.S. citizens to pay 0% on capital gains, interest, and dividends.
• The program offers a 4% corporate tax rate for businesses relocated to Puerto Rico.
• Rachel details the legal requirements for becoming a bona fide Puerto Rican resident.
• The conversation covers the importance of distinguishing pre-move and post-move capital gains for tax purposes.
• Kirk and Rachel discuss common pitfalls people face when trying to qualify for Act 60 benefits.
• They explore how Act 60 was designed to attract capital, entrepreneurs, and skilled professionals to Puerto Rico.
• Rachel outlines lifestyle differences between the mainland U.S. and Puerto Rico.
• The discussion includes the island's cost of living, housing options, and healthcare quality.
• Education systems and family considerations for those relocating are reviewed.
• Rachel emphasizes the need for real relocation and compliance with IRS residency rules.
• They touch on hurricane preparedness and infrastructure realities of island living.
• The episode concludes with insights on how to properly structure a business move to maximize Act 60's benefits.

Today's Panelists:

• Kirk Chisholm | Innovative Wealth
• Barbara Friedberg | Barbara Friedberg Personal Finance
• Douglas Heagren | Mergent College Advisors

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For more information, visit the show notes at https://moneytreepodcast.com/puerto-ricos-act-60-rachel-farris-758

Today we dive into earnings season investing secrets. Learn the investing secrets that will grow your wealth as we dive into market analysis highlighting accounting red flags and potential overvaluation risks. Financial engineering often signals late-cycle behavior recessions, though unpopular, are necessary to clear economic "dead wood."

We also examined current earnings trends in the financial sector, technical market patterns like resistance and support levels in small caps and metals, and the importance of balancing fundamental and technical analysis. We also talk investor psychology—how emotion, bias, and sentiment often drive poor timing and decision-making in markets.

We discuss...

• The Kolbe test, which measures instinctive strengths and natural problem-solving styles rather than personality or intelligence.
• Businesses use Kolbe results to build better teams by pairing complementary working styles.
• We also talked current market conditions, drawing comparisons between today's tech boom and the late-1990s dot-com bubble.
• How Nvidia's vendor financing arrangements resemble accounting maneuvers from the dot-com era, raising concerns about inflated revenues and future write-down risks.
• The hosts noted signs of late-cycle behavior in markets, including excessive optimism, overleveraged valuations, and creative corporate accounting.
• Recessions serve an essential economic function by clearing out inefficiencies and "dead wood," creating healthier long-term growth.
• A segment focused on earnings season, particularly the uneven performance in the financial sector and what it signals about underlying economic momentum.
• We analyzed technical market patterns, such as key resistance and support levels in small-cap indexes and precious metals.
• How gold and silver might act as contrarian signals or safe havens amid market uncertainty.
• The discussion emphasized the interplay between fundamental and technical analysis, stressing that investors should use both to form a complete market view.
• They highlighted the danger of emotional decision-making, noting that fear and greed often lead investors to buy high and sell low.
• The episode closed by underscoring the importance of maintaining discipline and objectivity, especially during euphoric or panic-driven market phases.

Today's Panelists:

• Kirk Chisholm | Innovative Wealth
• Phil Weiss | Apprise Wealth Management

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For more information, visit the show notes at https://moneytreepodcast.com/earnings-season-investing-secrets

As a college planning expert, Jack Wang breaks down major changes coming to college financial aid under the new "big, beautiful bill." Jack explains how new borrowing limits for parents and graduate students could upend traditional funding strategies and push more families toward the private loan market. He shares insights on how colleges decide who gets aid—revealing the "moneyball" game of enrollment management—and why being wanted by a school matters more than just being accepted. Jack offers practical advice on how families can spend less on college by targeting schools that align with their financial and academic profiles.

We discuss...

• Jack Wang explains how his personal experience navigating college costs during a divorce inspired him to become an expert in college financial aid planning.
• He discusses the new "big, beautiful bill," which introduces sweeping changes to college funding and borrowing rules beginning in 2026.
• Parent PLUS loans will soon be limited to $20,000 per year and $65,000 total, ending the previous system of virtually unlimited borrowing.
• Many families focus on helping their child get accepted into college without understanding how they will actually afford it afterward.
• Jack encourages families to prioritize schools that offer the most generous financial aid rather than chasing prestige or name recognition.
• He clarifies that financial aid isn't just for low-income families—colleges often give significant aid to higher-income households if the student fits their goals.
• Colleges operate like businesses using "enrollment management," a strategy to attract certain types of students who align with institutional priorities.
• Jack explains that being wanted by a college often leads to larger scholarships than simply being accepted.
• Signs a school may want your student include launching new majors, building new facilities, or heavily recruiting from your region.
• Families should be cautious about applying to overcrowded majors like business, which typically receive less financial aid because demand is already high.
• Understanding each college's scholarship policies and true costs upfront helps families make smarter, more affordable decisions.
• Jack stresses that financial planning should begin as early as freshman year of high school, since aid decisions rely on sophomore-year tax data.
• Visiting campuses and showing consistent interest can improve a student's appeal and increase their chances of receiving aid.
• He concludes that families will either spend the time planning early or spend far more money later if they fail to prepare.

Today's Panelists:

• Kirk Chisholm | Innovative Wealth
• Phil Weiss | Apprise Wealth Management
• Douglas Heagren | Mergent College Advisors

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For more information, visit the show notes at https://moneytreepodcast.com/college-planning-strategies-756

Right now, you should invest in anything but the S&P 500... Today we talk about what you should invest in instead. We focus was on market dynamics, particularly the strong performance of precious metals like gold and silver, the technical risks of recent market breakouts, and the caution needed after periods of rapid gains. We examine broader market trends, highlighting the relatively stronger performance of European and emerging market stocks versus the U.S., the importance of diversification, and more.

We discuss...

• Precious metals, especially gold and silver, have been performing strongly, but recent market breakouts are showing signs of weakness, signaling caution for over-leveraged investors.
• September was a high-gain month, leading many investors to become overextended, with earnings season potentially introducing volatility.
• The precise reasons for gold's rise are unclear, though factors like central bank purchases and possible stablecoin-backed demand may contribute.
• Gold acts as a fear indicator rather than a production-based asset, with rising prices reflecting concerns over fiat currency and economic uncertainty.
• Historical comparisons show current gold-to-oil ratios are anomalous, echoing aspects of the 1970s stagflation period while oil prices remain low.
• U.S. stock market gains are outpaced by European and emerging markets this year, emphasizing the importance of global diversification.
• Average S&P 500 returns differ from actual realized returns due to volatility and sequence-of-returns risk, affecting long-term retirement planning.
• Electricity prices have surged in most U.S. states, highlighting structural energy supply challenges and rising costs for consumers.
• AI expansion is creating unprecedented energy demand, potentially driving electricity prices higher and stressing grid capacity.
• Nuclear energy development is critical to meet growing energy needs, yet decades of poor policy and infrastructure deficiencies hinder progress.
• Media narratives on energy and investment trends can be manipulated, requiring investors to critically evaluate information.
• Historical tech and AI boom comparisons suggest caution, as overhyped markets with high valuations may lead to significant losses.
• Investors should manage risk carefully, use first-principles thinking, and avoid greed-driven overexposure to emerging trends like AI.

Today's Panelists:

Kirk Chisholm | Innovative Wealth Douglas Heagren | Mergent College Advisors

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For more information, visit the show notes at https://moneytreepodcast.com/invest-in-anything-but-755

JJ Kinahan, CEO of TastyTrade shares some tasty option strategies for 2025. JJ shares his journey from floor trader at the CBOE to CEO of TastyTrade under IG North America. He discusses the evolution of the brokerage industry—from the days of shouting in trading pits to today's retail-driven, commission-free environment—and how access to education has empowered individual investors. JJ emphasizes the importance of starting small, defining risk, and learning gradually when trading. We also talk why certain option types are miscategorized as "risky," the influence of retail investors since the meme stock era, and how futures trading offers hedging and round-the-clock opportunities.

We discuss...

• JJ Kinahan discusses his journey from being a floor trader on the CBOE to leading roles at ThinkorSwim and TD Ameritrade, and now serving as CEO of TastyTrade under IG North America.
• The real differentiator for traders now is education, not access, and that platforms like TastyTrade prioritize teaching users how markets actually work.
• The conversation highlights how TastyTrade continues that mission by combining content, community, and trading functionality in one ecosystem.
• JJ stresses the importance of understanding "defined risk" in options trading—knowing exactly how much you can lose before entering a trade.
• Calendar spreads can help traders take advantage of time decay and volatility differences between expiration cycles.
• JJ notes that the "meme stock" era of 2020–2021 changed market dynamics by bringing millions of new retail participants into the market.
• JJ warns that while accessibility is great, it can lead to overconfidence, so risk control and continuous learning are critical.
• JJ shares insights on how professional traders manage emotions and avoid letting losses dictate decision-making.
• Traders who survive long-term tend to manage downside risk far better than they chase upside potential.
• The conversation explores how automation and data analytics have reshaped trading, but that human intuition still matters in volatile environments.
• Building good habits—like journaling trades, reviewing setups, and setting stop levels—is key to developing consistency.
• He encourages investors to find strategies that fit their personality, risk tolerance, and time commitment rather than copying others.
• JJ leaves listeners with a simple message: focus on learning, define your risk, and don't let one trade define your trading journey.

Today's Panelists:

• Kirk Chisholm | Innovative Wealth
• Barbara Friedberg | Barbara Friedberg Personal Finance
• Douglas Heagren | Mergent College Advisors

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For more information, visit the show notes at https://moneytreepodcast.com/tasty-options-strategies-for-2025

This bull market is crashing and no one is talking about it! We kick off the fourth quarter by talking about how the government shut down has impacted the market. Precious metals—particularly gold, silver, and mining stocks—continue to surge in a largely overlooked bull market.

We also critique flawed data interpretations and talk the dangers of drawing false conclusions and the importance of treating data as correlation, not truth. We urge you to think critically about information in both science and finance.

We discuss...

• Markets have largely ignored the government shutdown, even moving higher despite it.
• Gold, silver, and mining stocks are in a powerful bull market that most investors are overlooking.
• Data shows correlation, not truth, and conclusions must be questioned.
• Investors should focus on price action and risk management, not the "why" behind moves.
• Private equity firms are overleveraged, with declining returns and cash flow–negative companies.
• While some private equity opportunities may exist, most are poor deals for average investors.
• Examples like JoAnn Fabrics and Red Lobster are cited as once-strong businesses destroyed by debt-heavy private equity ownership.
• Public backlash is growing as stories emerge of private equity "ruining" local businesses, hospitals, and jobs.
• The Big Ten Conference is reportedly exploring selling part of its media rights to private equity for short-term funding.
• Private investors could demand control over athletic or academic decisions, clashing with university missions.
• A lack of ethical grounding and values fuels these destructive financial practices.
• Many societal problems stem from short-term greed and moral decay rather than lack of opportunity.
• They review sector strength, noting broad participation and strong 52-week highs as signs of market health.
• Market breadth is strong, showing that many stocks—not just the "Magnificent 7"—are participating in gains.
• A "bull market behavior checklist" shows most indicators remain positive, suggesting momentum continues.
• Seasonal charts show typical market strength in early and late-year periods, but be cautious against overreliance on averages.
• They warn investors to be cautious even in strong markets, as low defensive positioning can precede pullbacks.
• Wealth preservation depends not just on building assets but structuring them to last.

For more information, visit the show notes at https://moneytreepodcast.com/this-bull-market-is-crashing

Today's Panelists:

Kirk Chisholm | Innovative Wealth Douglas Heagren | Mergent College Advisors

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Hillary Seiler joins us today to discuss the finances of athletes and NFL players. She shares her journey from personal financial struggles in college to building a career helping athletes, students, and employees improve their financial wellness. She shares how supporting friends who went pro in the NFL led her into creating financial literacy programs for professional teams, eventually expanding into universities and corporate America. She talks the lack of financial education for athletes, the misconceptions around their earnings, and the systems now in place to protect players from going broke.

We discuss...

• Hillary is a financial education coach who began working with pro athletes and later expanded to universities and corporate America.
• She was inspired by her own financial struggles during her mother's illness, which gave her perspective on money management.
• The NFL now mandates financial education sessions for rookies and younger players to prevent bankruptcy and poor financial decisions.
• Many athletes face misconceptions about their earnings, with most NFL players earning far less than the public assumes.
• Financial downfall is often tied to lack of education, poor money management, divorce, and being targeted for bad investments.
• Hillary teaches athletes to evaluate deals by requiring full business plans and consulting financial advisors before investing.
• Support systems and career planning are critical to helping athletes adjust to life after sports and avoid identity loss.
• Studies show Olympic silver medalists often stay motivated while gold medalists can struggle with depression and identity loss after reaching the pinnacle.
• Professional athletes and military veterans face similar challenges when retiring, often losing their sense of purpose.
• There has been debate about requiring athletes to save in pensions or annuities, but concerns remain about limiting free will.
• The NFL and NBA encourage saving with strong 401k matching programs, but players cannot access funds until age 45.
• The Pro Athlete Community (PAC) helps retired athletes manage money and avoid financial pitfalls.
• Despite education programs, some athletes still make costly mistakes or fall for scams, learning lessons the hard way.

For more information, visit the show notes at https://moneytreepodcast.com/the-finances-of-athletes-hillary-seiler

Your financial advisor hates this bull market! Find out what it is as we talk the recent market conditions as well as the potential upcoming government shutdown, noting that while shutdowns once spooked markets, investors have become largely desensitized as they rarely have major lasting effects outside of government employees and contractors. Shutdowns have historically been used as political tools, sometimes causing GDP drag and reputational costs, but now often register as background noise. We also chat about seasonal and cyclical inflection points—like quarter-ends, tax-loss selling, and earnings season—that can drive short-term volatility. It's important to keep your perspective, recognizing political drama as a "circus," and instead focusing on underlying market cycles. Today we discuss...

• Government shutdowns used to trigger fear in markets but now typically cause little more than short-term noise.
• Politicians increasingly use shutdowns as leverage tools in budget negotiations rather than genuine fiscal concerns.
• Past shutdowns have shown temporary GDP drag but very little lasting structural harm to markets.
• Markets tend to quickly recover after shutdown drama fades, reinforcing investor desensitization.
• The real drivers of volatility now are cyclical factors like quarter-end portfolio adjustments and tax-loss harvesting.
• Earnings season consistently creates inflection points for markets, often outweighing political headlines.
• Seasonal forces can exaggerate short-term market swings, particularly in September and October.
• Positioning between defensive stocks and growth stocks is more critical for risk management than reacting to shutdown fears.
• Broader global market trends often matter more than U.S. political events.
• U.S. small-cap stocks have underperformed compared to large caps and international equities, reflecting structural weaknesses.
• Investors should focus on long-term positioning rather than reacting to short-lived shutdown volatility.
• Shutdowns reveal the widening gap between political theater and actual economic fundamentals.
• Short-term market noise from shutdowns can actually create opportunities for disciplined investors.
• Shutdowns are best understood as temporary disruptions, not trend-defining events.

Today's Panelists:

Kirk Chisholm | Innovative Wealth Douglas Heagren | Mergent College Advisors

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For more information, visit the show notes at https://moneytreepodcast.com/your-financial-advisor-hates-751