Graham Day joins us to talk about the best EFT diversification you can have in your investment portfolio. Graham shares his experience in the ETF world, from his start at PowerShares in 2008 to co-founding Innovator ETFs in 2017.

Innovator introduced defined outcome ETFs, giving investors structured returns with protection against losses that were once only for the rich or through pricey products. They developed buffer ETFs, which limit potential gains but provide set protection against downturns, helping manage risk while keeping investments easy to sell and tax-friendly.

The conversation looks at how these ETFs stack up against traditional financial products, their use in managing investment portfolios, and more.

Today we discuss...

• Graham Day shares his background in ETFs, starting at PowerShares and later co-founding Innovator.
• Innovator aims to make structured investment strategies more accessible through ETFs.
• Defined outcome ETFs provide equity market exposure with downside protection.
• Buffer ETFs rebalance annually without creating taxable events. Innovator also offers accelerated ETFs, which provide leveraged upside with downside limits.
• Simplicity is key—structured products are often complex and difficult for advisors and clients to understand.
• Innovator ETFs aim to provide strategic, risk-managed solutions that fit into modern portfolios.
• Many advisors have used buffer ETFs as a bond alternative due to known downside protection.
• Buffer ETFs performed well compared to both bonds and stocks in recent years.
• Active management underperforms long-term, with 95% of managers lagging the S&P 500 over a decade.
• Investors often underperform the market due to poor timing and emotional decision-making.
• Buffer ETFs help investors stay invested by reducing the fear of market downturns.
• Some investors allocate 20-25% of portfolios to buffer ETFs for meaningful impact.
• Market predictions are unreliable, making defined-outcome strategies appealing.
• Innovator aims to provide certainty in an uncertain investing environment.

For more information, visit the show notes at https://moneytreepodcast.com/best-eft-diversification-graham-day-686 

Today's Panelists:

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

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There a problem with the post election tariffs! Today we talk about all the breaking political developments following Trump's election, his rapid use of executive orders and his quick use of tariffs. We have cautious optimism about some policies, but there is still always potential risks, with inflation and interest rates. We also challenge the common belief that homeownership is always an investment. Maybe there's something else that works for you. 

Today we discuss...

• How Trump's election has led to rapid political changes, with new developments emerging daily.
• Media on both sides is seen as biased, and people should think critically instead of relying on propaganda.
• The speaker is cautiously optimistic about Trump's direction, particularly regarding the economy.
• Some of Trump’s policies, like lowering interest rates and tariffs, could contribute to inflation.
• A discussion on real estate framed a home as a personal expense rather than an investment, challenging common narratives.
• High property prices in some areas make renting more financially sound than buying, contrary to common beliefs.
• Cutting government spending, a key Trump priority, could have significant economic impacts, especially in Washington, D.C.
• Not investing in D.C. real estate due to potential government downsizing.
• High housing costs are forcing younger buyers to relocate farther from cities.
• Changing living patterns, similar to COVID-era shifts, are reshaping communities and work arrangements.
• Remote work continues to impact commercial real estate as people settle into new locations.
• Many Americans now struggle to afford a mortgage on a standard 9-to-5 job.
• Housing affordability varies widely, with some states requiring nearly a full month's wages just for mortgage payments.
• Burnout is highest in industries involving manual labor and customer service, with healthcare being particularly affected.
• Economic frustration is driving shifts in political sentiment, as many voters seek disruption to the status quo.
• Global markets are performing well despite U.S. concerns, with China and Europe showing strong gains.
• Diversification remains key for investors, as even experienced professionals struggle to consistently pick winners.
• The top 1% of Americans now control 30.8% of total U.S. net worth, up from 22.8% in 1989.
• A recent poll shows mixed opinions on tariffs, with 47% supporting them to some degree and 53% opposing or unsure.
• Cautious optimism is warranted, but assuming another major rally this year could be unrealistic.

For more information, visit the show notes at https://moneytreepodcast.com/post-election-tariffs-685 

Today's Panelists:

Kirk Chisholm | Innovative Wealth Douglas Heagren | ProCollege Planners

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Today we talk The Soul of Wealth with Daniel Crosby, a behavior finance expert. Daniel shares his transition from clinical psychology to Wall Street due to burnout and his realization that finance is deeply rooted in human behavior. Highlighting the PERMA model from positive psychology, he emphasizes that true well-being requires balancing positive experiences, meaningful work, relationships, purpose, and personal growth—rather than just financial success. Daniel discussed how there has been a shift financial behavior, with younger generations prioritizing values-driven investing over pure profit. Join us as we discuss how to have a more fulfilling financial life! Today we discuss... 

• Daniel Crosby shares his background as a clinical psychologist who transitioned into behavioral finance.
• Behavioral finance is central to investing, shaping individual and institutional decisions.
• How people often optimize for material success (positive experiences) at the expense of deeper fulfillment.
• The PERMA model, a framework for well-being that balances pleasure, engagement, relationships, meaning, and achievement.
• How Wall Street culture can lead to extreme work habits, burnout, and misplaced priorities.
• Crosby emphasizes the importance of integrating life balance early, rather than delaying happiness for financial success.
• The role of money in social change, noting that financial tools have historically driven major civil rights movements.
• The Montgomery Bus Boycott, sparked by Rosa Parks, demonstrated the power of financial pressure in the civil rights movement.
• Younger generations increasingly recognize that spending money is a form of voting for the world they want to live in.
• Gen X is often overlooked politically, partly because they tend to be cynical and disengaged from politics.
• Financial decisions can be more powerful than political votes, as they influence the economy and corporate behavior daily.
• Consumer spending decisions significantly impact businesses and shape the economy more directly than stock market trades.
• Retirees often conflate net worth with self-worth, making it hard to enjoy their savings.
• The balance between saving for the future and enjoying the present is a major financial conflict in relationships.
• People tend to judge others based on their spending habits, viewing savers as dull and spenders as reckless.
• Life offers no guarantees, so financial strategies should include both prudent saving and meaningful spending.
• Overcoming personal financial biases requires studying market history and maintaining a long-term perspective.

For more information, visit the show notes at https://moneytreepodcast.com/the-soul-of-wealth-daniel-crosby-684 

Today's Panelists:

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

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With all of the new Senate confirmations and executive orders from the past week, the 2025 stock market predictions continue! We explore how higher interest rates make borrowing more expensive and how a strong dollar challenges multinational corporations by making U.S. goods more expensive abroad. Rising oil prices further strain businesses by increasing transportation and production costs. Despite these fundamental factors, the market often disregards traditional economic signals, making price the ultimate determinant of value. Today we discuss...

• The week's news cycle was dominated by Trump's executive orders and political theater in Senate confirmations.
• Senators grilling Kennedy on vaccine policies were top recipients of pharmaceutical industry donations.
• Stanley Druckenmiller outlined three major risks to markets: rising interest rates, a strong dollar, and rising oil prices.
• Before Trump took office, all three risk factors were in play, but they have since moderated.
• Higher interest rates increase borrowing costs and lower corporate profits, especially for debt-reliant industries.
• Tech companies have used low-interest debt for stock buybacks, artificially boosting valuations.
• A strong U.S. dollar negatively impacts multinational corporations by making exports more expensive.
• Emerging markets struggle with dollar-denominated debt when the U.S. dollar strengthens.
• The market doesn’t care about your opinion and can stay irrational longer than you can stay solvent.
• Even if you're ultimately right, being wrong for 20 years still means you were wrong in practice.
• The best investors acknowledge when the market disagrees with them and pivot accordingly.
• Most people lack familiarity with risk management beyond simply buying bonds.
• The largest oil reserves aren’t necessarily the most valuable due to quality differences in crude.
• Corporate cycles alternate between aggressive acquisitions and strategic spinoffs.
• Investment return data gets distorted over time as underperforming funds disappear.
• The extravagant corporate culture at Nabisco before and after the buyout.
• Cultural shifts, like the rise of the iPhone, have happened rapidly in recent years.
• The housing market is in a challenging state due to high interest rates and low supply.

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/2025-predictions-continue-683

Joe Kelly shares how he is unchaining the block chain through his company Unchained. He shares his entrepreneurial journey and insights on Bitcoin and its evolving role in finance. He detailed Unchained's services, which cater to long-term Bitcoin holders by addressing security, inheritance, IRAs, and financial tools like trading and lending. We talk Bitcoin's pivotal developments, including the approval of ETFs, institutional support, and the potential for a U.S. strategic Bitcoin reserve. We also explore mining economics and the broader industry's role in cementing Bitcoin as a foundational digital commodity. 

Today we discuss... 

• Joe Kelly's entrepreneurial journey from Alaska to Texas, emphasizing his early inspiration from Bitcoin.
• The importance of Bitcoin's shift to ETFs, noting the role of institutional players like Fidelity and BlackRock in mainstream adoption.
• The potential of a U.S. strategic Bitcoin reserve signals Bitcoin’s growing recognition as a critical, limited-supply asset.
• Bitcoin itself is virtually hack-proof, with vulnerabilities usually tied to key management or exchange-level breaches.
• Mining, while lucrative, is contrasted with direct Bitcoin investment, with the latter often yielding higher returns over time.
• There is a tradeoff between directly buying Bitcoin, which may influence its price upward, and the challenges of operating a mining business.
• Michael Saylor's Bitcoin strategy involves leveraging MicroStrategy's treasury to buy Bitcoin, funded through loans, convertible bonds, and equity dilution.
• The model has parallels to Ponzi-like structures, though it lacks the "rug pull" mechanics since the risks are transparent and tied to Bitcoin's performance.
• Bitcoin's value proposition hinges on its limited supply of 21 million coins, creating a perception of scarcity and long-term potential.
• Investors must approach Bitcoin with a balanced mindset, acknowledging both its potential for high returns and the risk of total loss.
• Bitcoin's volatility often causes steep downturns, which can challenge investors unprepared for long-term holding.
• Bitcoin's core utility lies in its robustness as a secure, scarce, and decentralized store of value.
• Emerging use cases from Bitcoin-related technologies include identity verification and fraud prevention, though these are indirect benefits.

For more information, visit the show notes at https://moneytreepodcast.com/unchaining-the-block-chain-joe-kelly-682 

Today's Panelists:

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

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Today we ask a burning question: is Donald Trump inflationary? We dive into the economic implications of Trump's policies, emphasizing their inflationary and deflationary effects. These measures could impact GDP, unemployment, wages, and inflation. We also explore the challenges of rising costs in basic necessities like food, transportation, and utilities, alongside broader concerns about the stock market's bullishness, potential corrections, and the need for sustainable economic growth. We also talk the commodity trends like coffee and the stock market's relationship to the Chinese calendar. 

We discuss...

• Trump's proposed policies—tax cuts, tariffs, government spending cuts, and border closures.
• Tax cuts and tariffs are inflationary, with tariffs passing costs to consumers and raising the price of goods.
• Border closures may increase food and low-wage labor costs, adding further inflationary pressure.
• Federal Reserve policy, including recent rate cuts, adds inflationary pressures, but further interest rate hikes may be necessary to control it.
• Essentials like car insurance, gas, and rent have significantly outpaced reported CPI inflation rates, putting pressure on everyday budgets.
• Addressing long-term inflation may require sustained economic growth, though achieving this remains a significant challenge.
• Inflation is impacting both dining out and eating at home, with rising costs creating financial challenges for consumers and restaurants alike.
• Billionaires prioritize keeping money in appreciating assets, contrasting with the "millionaire next door" approach of debt elimination.
• Trump coins and similar meme coins illustrate the rise of community-based cryptocurrencies, driven more by social networks than inherent value.
• Distrust in media, political institutions, and "gatekeepers of truth" underscores a growing reliance on decentralized, market-driven decision-making.
• Free markets naturally balance supply and demand, with pricing mechanisms reflecting societal values and priorities.
• Widespread skepticism of information sources reflects a societal shift toward questioning traditional authorities and media.
• Policies against nuclear energy inadvertently push reliance on coal to fill energy gaps, undermining efforts for a cleaner planet.
• The high cost of living in many U.S. states underscores the need for affordable energy to alleviate economic pressures on households.
• Economic inequalities persist, with credit card defaults rising and inflation impacting household spending, particularly in transportation, housing, and food.

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/is-donald-trump-inflationary-681 

Eric Crittenden is here to share the investing strategies for all weather! No matter what the situation is, you should be prepared to invest your money wisely. Eric shares insights on blending equities, bonds, and systematic global macro strategies like trend-following to navigate volatile markets, emphasizing the importance of managing downside risk and incorporating uncorrelated assets. We also reflect on macroeconomic trends, and compare today’s inflationary pressures to the 1970s, expressing skepticism about inflation being fully contained and stressing the value of systematic investing over reliance on media narratives or short-term predictions. Today we discuss... Eric Crittenden, CIO at Standpoint Asset Management, specializes in "all-weather investing," combining hedge fund styles and traditional assets for stable returns in all market conditions. Eric's career began after transitioning from meteorology and public health studies to finance, spurred by a fascination with dynamic systems and risk management. He highlights the importance of managing downside risk and diversification, especially during challenging periods like the stagflation of the 1970s. Crittenden cautions against high-fee hedge fund structures, advocating for in-house, low-cost implementation of trend-following strategies. Gold, short-term fixed income, and systematic macro strategies are recommended for navigating inflationary and stagflationary periods. Rather than relying on narratives, Crittenden employs a systematic, data-focused method to identify global trends using daily updates from international futures exchanges. Current economic conditions are compared to historical eras like the 1970s, the Great Depression, and early 2000s, predicting major challenges in the next 10–15 years. Inflation could resurface due to supply chain disruptions, reindustrialization, or unexpected events rather than monetary policy alone. Decoupling from China and reindustrialization in North America are significant but costly, long-term efforts requiring high capital expenditure. Predicting economic shifts remains challenging as market shocks often come from unforeseen factors. Reindustrialization and reshoring initiatives face efficiency and scale challenges, particularly when transitioning manufacturing from China to smaller nations like Mexico or Vietnam. The U.S. benefits from unparalleled geographic advantages, which foster economic resilience and attract global talent. Technological shifts like AI and crypto are reminiscent of the early internet, with a mix of revolutionary potential and speculative overreach. Governments may challenge crypto through taxation or legal constraints, highlighting the importance of considering geopolitical risks in such investments. Long-term capital stewardship prioritizes sustainable growth, stability, and client trust over speculative gains or first-mover risks. For more information, visit the show notes at https://moneytreepodcast.com/investing-strategies-eric-crittenden-680

The two handed economist has a surprise prediction! Today we cover a wide range of topics such as market movements and our perceptions of the current economic and political climate. We talk our current leadership, particularly criticizing Gavin Newsom's handling of California's challenges, including wildfires and insurance issues. We also talk economic frameworks, including the effects of inflation and deflation on purchasing power. Today we discuss... 

• The growing popularity of pickleball and its origins, along with its appeal to older demographics.
• Effective leadership styles by referencing Steve Jobs and Joe Rogan as examples of accountability.
• The systemic issues with inflation, focusing on how purchasing power declines over time due to currency devaluation.
• Bitcoin, gold, and real estate to illustrate inflationary trends and their impact on perceived asset values.
• Encouraging viewers to adopt a long-term perspective on financial decisions, taking into account the erosion of currency value.
• The Federal Reserve's policies aim to reduce volatility, making economic decision-making easier, albeit at the cost of consistent inflation eroding purchasing power.
• Cash outperforms in market crashes as its purchasing power increases, enabling investors to acquire discounted assets.
• The current market, based on metrics like the Schiller CAPE ratio, remains historically overvalued, raising caution for future corrections.
• Even if the market drops by half, it would still be expensive, suggesting a significant correction is required for reasonable valuations.
• A large flow of money into indexes has contributed to elevated valuations, pushing prices higher even beyond practical expectations.
• Since a significant amount of money continues to flow into the market each year, it's difficult to predict when a true market collapse might happen.
• The current market behavior shows that it could rise even further than expected, despite economic uncertainty.
• Even in extreme scenarios like COVID, when the global economy shut down, the market showed resilience, defying expectations of a larger crash.

For more information, visit the show notes at https://moneytreepodcast.com/surprise-prediction-679 

Today's Panelists:

• Kirk Chisholm | Innovative Wealth
• Douglas Heagren | Pro College Planners

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Renan Devillieres discusses the currect techological revolution in manufacturing! This revolution is caused by geopolitical shifts and technological advancements, but also brings the challenges of decoupling from China, the pressing need for new factories and energy infrastructure, and the trade-offs of reshoring and more! Renan also shared insights into the role of AI-powered tools, autonomous roots, and emerging materials in shaping modern manufacturing.

Today we discuss... 

• Manufacturing is undergoing an unprecedented pace of change due to aging populations, geopolitical tensions, and technological advances.
• Decoupling from China is driving a reshoring trend in the West, with significant investments in factories and supply chains.
• Energy infrastructure is a critical bottleneck, with advancements in small nuclear reactors and decentralized grids emerging as key solutions.
• The shift toward high-utilization products, like self-driving cars and multifunctional smartphones, is reshaping manufacturing priorities.
• Reshoring and decoupling come with trade-offs, including inflation and societal adjustments, as countries aim for self-sufficiency.
• AI and manufacturing depend heavily on energy availability, with Silicon Valley now embracing nuclear power as a vital resource.
• Simulation software enables precise virtual modeling of production processes, reducing reliance on physical tests.
• Advancements in 3D printing improve resolution and applications, but material limitations prevent it from replacing traditional manufacturing processes.
• Talent shortages, particularly in mechanical engineering and manufacturing expertise, hinder progress in industrial innovation.
• Rebuilding localized supply chains, such as Tesla's vertical integration, is essential for reducing reliance on international dependencies.
• Bridging the gap between R&D and production in pharmaceuticals could drastically reduce costs and timelines.
• Healthier food systems face challenges from industrialized production, affordability concerns, and systemic quality issues.
• Consumer demand for healthier food is gradually increasing, signaling potential shifts in market dynamics.
• The food sector’s transformation may be catalyzed by breakthroughs, scandals, or evolving consumer preferences.

For more information, visit the show notes at https://moneytreepodcast.com/technological-revolution-in-manufacturing-renan-devillieres-678 

Today's Panelists:

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

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Ready for inflation predictions? We discuss the places inflation could strike again in 2025. We also talk economic trends, inflationary patterns, and government spending's role in the economy. We also share the policy implications under different administrations, and how they will impact us going forward. Today we discuss...

• Reflection on broader U.S. economic issues, such as government spending and budgetary challenges.
• Analysis of past inflation cycles and comparisons to current monetary policy efforts.
• Speculation on future economic strategies and challenges in addressing discretionary spending.
• Younger generations often assume they won't receive Social Security benefits due to government mismanagement and financial instability.
• Reducing government spending could have deflationary effects by removing a significant portion of GDP, potentially causing recessions.
• Tax cuts are generally inflationary as they increase disposable income, but public dissatisfaction with perceived government waste limits willingness to pay higher taxes.
• Immigration impacts economic growth by providing cheap labor, but eliminating low-wage workers could lead to higher food costs and inflation.
• Energy abundance, particularly through nuclear power, is highlighted as a critical factor for economic growth and poverty alleviation.
• Analysts remain cautious about the economy's direction, advocating for managed investment risk and avoiding "all-in" strategies amidst uncertainty.
• Nuclear energy is resisted due to public concerns (e.g., NIMBY sentiment) despite its potential as a clean energy source.
• Rising energy costs directly impact household budgets, inflating expenses for housing, insurance, and transportation.
• Economic inflation has made $100,000—a salary once considered wealthy—barely sufficient to meet the average American household's annual expenses.
• Housing affordability challenges persist as property taxes and insurance costs outpace wages, undermining traditional financial planning strategies.
• Perceptions of climate change vary widely, with debates centering on human versus natural causes and the effectiveness of governmental policies.
• Conspiracy theories about disasters like wildfires gain traction amid frustrations with government responses and insurance industry practices.
• A significant portion of U.S. income inequality debates focus on the disparity between being "rich" (high income) versus "wealthy" (high net worth).

For more information, visit the show notes at https://moneytreepodcast.com/inflation-predictions-677 

Today's Panelists:

Kirk Chisholm | Innovative Wealth Douglas Heagren | ProCollege Planners

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