AI is getting smarter, but are we ready? Today we deep dive into the evolution of tools like ChatGPT—from early, academic-sounding outputs to more recent capabilities that include humor, sarcasm, and nuanced storytelling. We explore how AI is rapidly improving but still faces a gap in practical, transformative use cases for the average person. The adoption curve is slow, but so it has been for past innovations like video games, the internet, and crypto. While AI is becoming more accessible, it hasn’t yet reached full mainstream integration, but it eventually will.

We discuss...

• The explosion of AI interest since ChatGPT’s launch and its shift from novelty to everyday tool.
• How AI is getting better at sarcasm, creativity, and sounding more human unlike early AI with bland writing and a poor grasp of humor and nuance.
• The challenge of finding truly impactful AI use cases beyond convenience tools.
• The tech adoption spectrum, from everyday users to coders, and how AI fits into that.
• How AI follows a familiar tech adoption curve—past early adopters, not yet fully mainstream.
• Comparisons between AI today and early stages of gaming, internet, or crypto adoption.
• The idea that we’re still just scratching the surface of what AI can do in daily life.
• ChatGPT commands the most attention, Claude comes in a distant second, and Gemini is barely on the radar.
• Google is quietly testing a lead generation product (likely Local Services Ads) as a new revenue source.
• AI hasn’t yet reached the point of autonomously solving problems without user guidance.
• AI tools can produce mediocre output by default but become shockingly good with proper input and structure.
• AI isn’t replacing jobs yet, but people who know how to use AI are replacing those who don’t.
• There are viral examples of teens using AI to launch apps with multi-million dollar revenues.
• The more specific the prompt, the better the AI’s output—clarity is key.
• Business tasks like running scenarios, correlations, and planning can be done instantly with AI.
• There’s huge potential for public-facing AI avatars to field press, lead webinars, or handle customer interactions.
• Users respond well to AI when it's honest about being non-human—transparency builds trust.

Today's Panelists:

Kirk Chisholm | Innovative Wealth Douglas Heagren | ProCollege Planners

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For more information, visit the show notes at https://moneytreepodcast.com/ai-is-getting-smarter-715 

Your bad estate plan is going to cost you! In today's episode, Lauren Klein, a Florida-based tax and estate planning attorney, discussed the critical components of effective estate planning. She debunks myths about revocable trusts, touches on the importance of regularly updating estate plans, and shares on the unethical financial incentives some attorneys may have to let plans fall short. We also talk the strategic use of irrevocable trusts, asset titling, and state-specific protections like Florida’s homestead laws for enhanced asset security.

We discuss...

• Lauren Klein is a Florida-based tax, trust, and estate attorney who works nationally, helping clients with estate planning, probate avoidance, and tax strategies.
• Probate happens when someone dies owning assets solely in their name without a beneficiary or trust. 
• Probate adds stress during grief and often sparks disputes—especially if there’s no clear plan or distant relatives get involved.
• Family fights usually come from unresolved issues, emotional baggage, or greed. Clear planning helps prevent conflict, though it can’t always stop it.
• Many assume a will or trust avoids probate, but trusts must be properly funded—assets need to be retitled into the trust or have it listed as beneficiary. 
• The estate planning industry is too transactional—clients get documents but little follow-up.
• After a death, families often struggle to locate and transfer assets legally while grieving. It requires attorneys, paperwork, and patience.
• A common myth is that revocable trusts protect assets from taxes or lawsuits. They don’t during your lifetime—but they help avoid probate and add control.
• Revocable trusts shine when passing assets to kids. They can protect inheritances from divorce or lawsuits and become irrevocable (and stronger) after death.
• Trusts are especially helpful for blended families and young kids. You can distribute assets in stages and add estate tax protection with proper planning.
• Irrevocable trusts offer stronger protections but are more complex and better suited for high net worth or special planning needs.
• Asset protection varies by state—Florida, for example, offers homestead and tenancy protections. Even how you title a car can matter.
• Retirement accounts and life insurance have some protection, but it depends on the state. Listing all assets is key to building a strong estate plan.
• Crypto is showing up more in estate planning. It requires special steps to protect and transfer securely.

Today's Panelists:

• Kirk Chisholm | Innovative Wealth
• Barbara Friedberg | Barbara Friedberg Personal Finance
• Phil Weiss | Apprise Wealth Management

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For more information, visit the show notes at https://moneytreepodcast.com/bad-estate-planning-lauren-klein-714 

China tariffs are causing big problems right now. Today we talk about the recent developments in U.S.-China trade relations, particularly the temporary pause in tariffs and the broader implications for investor sentiment and economic narratives. The fear over supply chain disruptions quickly faded once tariff discussions resumed—even though actual inventory issues remained unresolved. We also analyzed a new Republican tax bill, highlighting key proposals like eliminating taxes on tips and overtime, allowing deductions for car loan interest, and introducing a “MEGA account” to support education, home buying, and small business loans.

We discuss... 

• Trump temporarily paused tariffs on China for 90 days, reducing tensions and prompting speculation on political motives.
• Despite ongoing inventory lags, public and media attention has waned following the tariff pause announcement.
• People often react to headlines and political gestures without examining the actual impact or facts on the ground.
• Wall Street quickly shifted from fear to optimism despite unresolved issues, illustrating emotional market swings.
• Consumer sentiment has rapidly reversed from bearish to bullish, reflecting how quickly perception can change.
• Buffett’s principle of being fearful when others are greedy remains relevant in today’s sentiment-driven market.
• The proposed GOP tax bill includes a “No Tax on Tips” provision, widely supported as fair for service workers.
• A new “MEGA Account” is proposed to help with education, small business loans, and first-time homebuyer costs.
• The IRS uses audits not primarily to collect money but to scare people into compliance, as stated by an IRS official.
• Low-income taxpayers are disproportionately audited due to earned income tax credit claims.
• Wealthy individuals can afford legal support, making IRS audits less impactful for them compared to lower earners.
• The U.S. housing market is now at its most unaffordable level in recorded history.
• Mortgage rates are back to their historical average and unlikely to drop meaningfully.
• The Fed's long-term involvement in mortgage-backed securities has distorted the housing market.
• Interest rates remain high, and the Fed has yet to significantly cut, raising questions about the rationale for past rate cuts.

For more information, visit the show notes at https://moneytreepodcast.com/china-tariffs-are-causing-big-problems-713 

Ashley Morgan is here to share on filing for bankruptcy the right way. There has been a rising demand for bankruptcy services amid job losses and contracting challenges in the D.C. area, particularly among government contractors, and Ashley's VA based Law Practice has been doing a lot of work on these cases for both individuals and businesses. Ashley explains how bankruptcy can offer a fresh start, protect certain assets like homes or retirement accounts, and in some cases discharge tax and SBA debt. The conversation also covers the complexity of student loan discharge, the importance of asset protection and planning before filing, and misconceptions around credit damage post-bankruptcy. 

We discuss... 

• Ashley Morgan, a bankruptcy attorney near D.C., discussed the rising demand for her services amid increasing job losses, particularly among government contractors.
• The economic slowdown in the D.C. area is creating a trickle-down effect, impacting local small businesses as stable government money dries up.
• Bankruptcy is a legal, court-supervised process to eliminate or restructure debt, offering individuals a fresh financial start.
• The U.S. system allows broader bankruptcy relief compared to many other countries, though outcomes depend heavily on income, assets, and debt type.
• Common types of bankruptcy include Chapter 7 (liquidation), Chapter 13 (repayment plan), Chapter 11 (business restructuring), and Chapter 12 (for farmers/fishermen).
• Chapter 11 is often used by large businesses to renegotiate leases, restructure payments, or close unprofitable locations.
• Small business owners can file Chapter 7 to shut down a business, but Chapter 11 can be cost-prohibitive for many.
• Personal credit isn't always impacted by business bankruptcy unless the owner personally guaranteed business debt.
• Bankruptcy doesn’t automatically ruin credit—many filers see credit scores rebound shortly after filing.
• Asset protection during bankruptcy varies by state; homestead exemptions can protect homes, but limits differ widely.
• Timing and transparency are critical—transferring assets before filing may trigger fraudulent conveyance issues.
• Retirement accounts (e.g., 401(k)s, IRAs) are often protected and can be used strategically before filing.
• Student loans are generally not dischargeable, though rare exceptions exist through adversary proceedings under "undue hardship."
• SBA and certain tax debts may be dischargeable under specific conditions, like being sufficiently old and properly filed.
• Ashley emphasizes the importance of early education, legal consultation, and realistic expectations about outcomes when considering bankruptcy.

Today's Panelists:

• Kirk Chisholm | Innovative Wealth
• Barbara Friedberg | Barbara Friedberg Personal Finance

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For more information, visit the show notes at https://moneytreepodcast.com/filing-for-bankruptcy-ashley-morgan-712 

This hidden bull market is actually lying in plain sight! Find out what it is today as we discuss media fear-mongering, unhelpful propaganda, Bitcoin and gold, and more. The central banks continue accumulating gold, emphasizing its historical role as a long-term store of value, and noting that despite the rise of digital assets like Bitcoin (which the U.S. now holds as a reserve), gold's cultural and material significance remains deeply embedded worldwide. Oh, and we also got a new Pope!

We discuss... 

• A new Pope from the U.S., Pope Leo XIV (formerly Robert Prevost of Chicago), was elected, contradicting Jim Cramer's confident prediction.
• The Pope had a 1% chance in betting markets, showing how off-market odds can be and how unexpected outcomes can deliver large returns.
• A widely shared headline warned that Earth will run out of oxygen, but buried in the article was the timeline—1 billion years from now.
• Climate change is a hard-to-measure issue that’s often politically weaponized and based on unprovable long-term models.
• Propaganda exists across all eras and agendas, including pro-America messages like those in 80s movies such as Top Gun.
• Spotting propaganda and political messaging can be useful for investors trying to understand broader narratives and their market implications.
• Governments often downplay crises right before they hit, and historically, such reassurances can be a red flag to start worrying.
• Recognizing themes in media, like global warming or military conflicts, can help investors anticipate policy moves or market shifts.
• Nuclear energy is an example of a rational solution ignored for political reasons, illustrating how policy can ignore practical options.
• Wealthy investors and central banks are buying more gold, reinforcing gold's role as a long-term store of value.
• Gold continues to be culturally significant and trusted across civilizations, unlike newer assets like Bitcoin.
• The U.S. government has decided to hold confiscated Bitcoin as a reserve asset, further legitimizing it in financial circles.
• There's growing speculation that Bitcoin could evolve into a reserve asset for central banks, similar to gold.
• Banks have transitioned from resisting Bitcoin to finding ways to monetize it, suggesting institutional acceptance is rising.
• Gold has significantly outpaced wage growth since 2000, reinforcing its strength as a store of value amid stagnant real income.
• Crypto has displaced silver as the inflation-hedge asset of choice among younger investors, hurting silver’s narrative.
• Long-term tailwinds for silver include green tech applications like solar panels and EVs, which could reignite demand.
• Gold and silver miners have underperformed despite rising bullion prices, with some major miners currently unprofitable.
• Mining companies face structural inefficiencies, making many poor business models despite gold’s rise.
• Institutional caution, reflected in moves by figures like Warren Buffett, indicates potential market hesitancy despite retail optimism.

Today's Panelists:

Kirk Chisholm | Innovative Wealth Douglas Heagren | ProCollege Planners

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For more information, visit the show notes at https://moneytreepodcast.com/hidden-bull-market-711 

Anthony Georgiades shares the future of venture capital in the age of AI. He shares his journey from an early failed startup to becoming a deeply technical investor focused on frontier technologies. He emphasizes the importance of technical literacy in venture capital, especially when evaluating deep tech. We also touch on the economic and existential risks of AI, emphasizing the need for governance, transparency, and decentralized control, while pointing to robotics as a slower-moving but ultimately transformative force in the physical economy.

We discuss... 

• Anthony Georgiades shared his background in business, venture capital, and a technical pivot into computer science and robotics.
• A failed early startup experience drove him to gain deeper technical proficiency to better assess and build emerging technologies.
• He emphasized the importance of deeply understanding deep tech and being able to speak fluently with technical founders.
• Web3 use cases are becoming more real, with examples like decentralized AI inference, verifiable model outputs, and on-chain computation.
• He highlighted the importance of decentralized GPU marketplaces and AI-native blockchains as potential disruptors.
• Web3’s decentralized financial infrastructure enables instant, global, and permission-less access to financial instruments.
• Banks remain entrenched due to regulatory, compliance, and sovereign monetary systems, despite growing disruption.
• Crypto is unlikely to replace fiat overnight due to legal, infrastructure, and fractional reserve complexities.
• AI is seen as the most inevitable trend, already impacting industries across the board.
• The exponential development of foundation models and the importance of proprietary data are creating a winner-take-most dynamic.
• Web3, though earlier in development, is viewed as more disruptive due to its potential to create new markets and rewrite institutional frameworks.
• He acknowledged real short- and long-term risks with AI, including economic displacement, misinformation, and loss of control.
• Existential AI risk stems from misaligned goals, where intelligent systems could pursue objectives with harmful side effects.
• Open models, auditable systems, and decentralized infrastructure are key to safer AI development.
• Robotics is considered the “final frontier” of disruption, especially as intelligent machines become capable of operating in the physical world.
• Use cases like autonomous farming are emerging as impactful applications of robotics innovation.

Today's Panelists:

• Kirk Chisholm | Innovative Wealth
• Barbara Friedberg | Barbara Friedberg Personal Finance
• Phil Weiss | Apprise Wealth Management

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For more information, visit the show notes at https://moneytreepodcast.com/venture-capital-in-the-age-of-ai-anthony-georgiades-710 

The central banks are hoarding this asset while they wait for Trump's next move! In the meantime, Warren Buffett’s announced his official retirement and his handoff of leadership to Greg Abel. We talk Buffett’s post-2000 investment choices, the reasons he may have avoided buying Microsoft despite his close friendship with Bill Gates, and the challenges of managing massive capital. The hosts also touch on Buffett’s preference for capital-efficient, moat-heavy businesses and his indirect exposure to Microsoft through index holdings. We also discuss recent economic news, negative GDP print driven by rising inventories and reduced government spending.

We discuss... 

• Warren Buffett officially announced his retirement, passing leadership to Greg Abel.
• Buffett’s consistent outperformance over decades, despite criticisms of his recent picks.
• Buffett's size as an investor was cited as a limitation, forcing him to seek only very large investments.
• The recent negative GDP print, noting concerns around economic slowdown.
• Inventory buildup ahead of Trump-era tariffs artificially skewed GDP figures.
• Net exports and reduced government spending are key contributors to the negative GDP number.
• Consumer spending was also shown to have slowed, adding to concerns about potential recession signals.
• A sharp drop in consumer spending could be a clear economic indicator of a downturn.
• Business investment surged after Trump’s election due to economic optimism but has since stalled amid uncertainty
• Many business owners are holding back on investment due to a lack of visibility under the current administration.
• Shipping delays from China can take 30 days, meaning tariff effects won't be felt immediately but are now becoming visible.
• A drop in container orders from China suggests supply chain disruptions are already underway.
• The "bullwhip effect" explains how small supply chain changes can cause large swings in inventory and pricing.
• Warren Buffett is still sitting on significant cash, possibly anticipating better buying opportunities amid market volatility.
• A coming inventory crunch could cause inflation as demand outstrips constrained supply.
• Post-COVID rebounds in same-store sales distort trend lines and may create false signals.
• The official CPI of 21% over five years doesn’t align with real-world price experiences, suggesting data manipulation.
• Government inflation numbers may be inaccurate or understated, leading to misguided investing decisions.
• Investors should rely on personal experience and intuition—the “bullshit detector”—instead of blindly trusting official data.

Today's Panelists:

Kirk Chisholm | Innovative Wealth Douglas Heagren | ProCollege Planners

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For more information, visit the show notes at https://moneytreepodcast.com/central-banks-are-hoarding-this-asset-711

Diana Perkins shares how you can master your emotions through discipline for trading success. Her journey has taken her from a childhood fascination with finance to building a career in trading and eventually launching her own trading education business. She mentors aspiring traders and emphasizes that long-term success is overwhelmingly about emotional discipline and risk management. 

We discuss... 

• Diana Perkins shares that she knew finance was her calling from a young age, charging her sister interest on loans at age nine.
• She fell in love with trading stock options and derivatives, and mentors hundreds of aspiring traders.
• Today, Diana runs her own trading education business focused on teaching new traders with an emphasis on risk management.
• Most traders, particularly currency traders, tend to blow up at least one account as a "rite of passage."
• Fear, greed, and mindset are much bigger factors in trading success than simply knowing technical skills.
• Diana works extensively with options traders, helping them overcome the initial intimidation of options complexity.
• She emphasized the importance of discipline and emotional control in trading over just understanding strategies.
• Her favorite strategy when trading professionally is vertical spreads because of their limited risk and “set it and forget it” nature.
• She shared that she still trades today, both in her own account and through a virtual portfolio for her stock-picking service.
• Most people’s natural instincts — fear, greed, impatience — are what make trading so challenging.
• Even random stock picks can perform well if trade management and discipline are handled properly.
• Diana emphasizes that discipline, probability, and risk management are at the core of successful trading, not just stock picking.
• It's important to focus on the amount of premium at risk rather than the number of contracts or shares controlled.
• Verticals require holding to expiration to capture full profit potential since gains are capped.
• Implied volatility (IV) can often cause seemingly "off" prices, particularly around earnings and major events.
• Consistency over time is critical to profiting from strategies like IV trading, much like "sell in May" seasonality trades.
• While AI tools can assist, she double-checks everything manually due to her auditing background and mistrust of "black box" systems.
• Although past performance isn't predictive, understanding human psychology — fear and greed — can offer powerful trading insights.

Today's Panelists:

• Kirk Chisholm | Innovative Wealth
• Barbara Friedberg | Barbara Friedberg Personal Finance
• Douglas Heagren | Pro College Planners

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For more information, visit the show notes at https://moneytreepodcast.com/discipline-for-trading-success-diana-perkins-708 

This is a big move in this shiny asset! While everything else in the market is seeing big changes, gold is not different. We are also in earnings season, and major companies' reports can influence markets. Business uncertainty, especially around tariffs, has caused a dramatic slowdown in corporate spending. Forecasting has become very difficult, but there are signs of a potential recession, yet it's still important to avoid echo chambers when forming investment views. 

We discuss...

• Inflation has significantly raised prices at restaurants between 2020 and 2025, with breakfast items like IHOP pancakes seeing an 82% price increase.
• Companies are cautious during the current earnings season, often dampening future expectations due to economic uncertainty and tariffs.
• A North American manager reported that customer spending and shipping orders have frozen up worse than during COVID, threatening layoffs.
• People seek confirmation of their beliefs and the danger of echo chambers in investing and life.
• Successful investors should seek out contradictory evidence rather than self-confirming narratives.
• Value stocks like McDonald’s and Coca-Cola have been resilient and largely unaffected by tariffs.
• Investors should examine their ETFs' holdings and individual stock performance closely.
• Many mega-cap tech stocks have struggled despite strong revenue growth since 2021.
• A new generation of investors is facing real market pullbacks for the first time, leading to potential emotional decision-making.
• Risk is always present in markets, regardless of "risk on" or "risk off" environments.
• Diversification and proper risk management should be done before volatility hits, not after.
• Technology stocks are especially vulnerable to liquidity tightening and reduced spending.
• Global liquidity is showing signs of increasing outside the U.S., helping international markets outperform.
• Recessions, though painful, are necessary for economic health and market resets.
• Gold has been very strong recently, staying above its 200-day moving average.
• The gold-to-silver ratio is historically high, suggesting silver is extremely undervalued relative to gold.
• Proper ratio trades remove general market movement risk but require strong discipline and understanding.

Today's Panelists:

Kirk Chisholm | Innovative Wealth Douglas Heagren | ProCollege Planners

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For more information, visit the show notes at https://moneytreepodcast.com/big-move-in-this-shiny-asset-707 

We're joined by Frances Reaves, who shares insights from her work in estate and Medicaid planning, on how to get your parents ready for long term care. Frances explains the importance of preparing for elder care before it's urgently needed, sharing her personal experience with her own parents and husband, who is currently navigating Alzheimer's care. The conversation dives into the realities of elder care, including the challenges of navigating the healthcare system, the high costs of in-home versus facility care, and the value of long-term care insurance. 

We discuss... 

• Francis Reads is an elder law attorney specializing in estate and Medicaid planning.
• She founded a service within her law firm called “Parent Your Parents” to support elder care planning.
• Elder care generally begins around age 65, when Medicare becomes available.
• A major challenge in elder care is systemic apathy and poor communication in facilities.
• In-home care is the gold standard if money is no object, costing $12,000–$15,000 per month.
• Reverse mortgages and long-term care insurance are common strategies to fund elder care.
• Long-term care insurance works similarly to car insurance—ideally unused but crucial.
• The cost of long-term care and facilities can quickly deplete even sizable retirement savings.
• The best age to purchase long-term care insurance is between 55 and 60.
• For-profit facilities are incentivized to keep patients alive, not necessarily to improve their quality of life.
• If you have no one to care for you, plan ahead with long-term care insurance, savings, and legal documents like power of attorney and healthcare proxy.
• People who choose to provide full-time care often risk financial ruin if long-term care plans or savings are not in place.
• There’s potential to arbitrage life expectancy in financial tools like reverse mortgages or life insurance.
• Many elders struggle with losing independence, especially around giving up driving.
• Adult children often become parental figures to their own parents, which can create emotional strain.
• Financial advisors and lawyers play a key role in spotting and preventing elder financial abuse.
• Professionals should watch for signs of undue influence or financial exploitation and speak up if concerned.

Today's Panelists:

• Kirk Chisholm | Innovative Wealth
• Barbara Friedberg | Barbara Friedberg Personal Finance
• Phil Weiss | Apprise Wealth Management

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  For more information, visit the show notes at https://moneytreepodcast.com/long-term-care-h-frances-reaves-706