Off The Wall

Caring for aging parents involves so many details, from medical and financial decisions to legal, long-term care, and end-of-life wishes. Statistics show there's a clear disconnect between parents and children around these decisions, so it's important to start talking about this with your parents early. We hope this episode makes it easier and less stressful for you to navigate the process.

In this episode of Off the Wall, co-host Jessica Gibbs is joined by our client experience team, Cathleen Phelps and Cecelia Gilliam, along with Dean Catino, Co-Founder and Partner at Monument Wealth.

Throughout the conversation, we provide tips for how you can support your aging parents, let them take the lead where they can, and make sure they're feeling heard and loved through every decision. We walk through a well-thought-out checklist of how to financially protect and help prepare yourself and your aging parents. Then, the team offers advice and some general information about legal and estate planning, downsizing/moving, long-term healthcare needs, and even protecting your parents from scammers.

"The most important step is really to begin. You have to start. And knowing that it can be very difficult and sometimes awkward, knowing that this will most likely be a process, it's an investment in your folks and that's what everyone wants… Everyone's relationship with their families are very unique and the pathway traveled forward will also be very unique."

– Dean Catino, co-Founder and Partner

Please see important podcast disclosure information at https://monumentwealthmanagement.com/disclosures.

Episode Timeline/Key Highlights:

[00:33] Introducing our guests & the topic of today's episode.

[02:03] Why it's important to start the aging conversation with your parents early.

[04:23] Where to start (checklist): Financially protecting yourself and your parents.

[15:05] Legal/Estate Planning: Essential documents your parents need and what you need to be aware of.

[29:28] Long-Term Healthcare Considerations: What care needs will my aging parents have?

[36:54] Senior Move Management: Tips for downsizing, moving, and organizing your parents' estate.

[41:25] Final Advice/Takeaways: Everyone's path is unique. The goal is to focus on keeping your parents safe, healthy, and happy! Patience, kindness, and support is vital.

Resources Mentioned:

Planning Ahead:

Thinking Ahead Roadmap and Financial Advocate Task List: https://thinkingaheadroadmap.org/downloads

From researchers at the University of Minnesota and Stanford Center for Longevity, and funded by AARP; a comprehensive toolkit that guides people to select someone they trust to help manage their money if financial decisions become too difficult in the future.

"Start the Elder Care Conversation" from Kiplinger: https://bit.ly/3DOotBT

Protecting Against Scams:

EverSafe – Scans accounts for unusual spending, POA can be notified: https://www.eversafe.com

Carefull – Online company that monitors for fraud and financial errors & provides identify theft insurance: https://getcarefull.com

2022 FBI Elder Fraud Report: https://bit.ly/47wrVPd

Financial Help:

SilverBills – Concierge service that makes sure bills are paid on time and inspects invoices for fraud and error: https://silverbills.com

Find a Financial Therapist: https://financialtherapyassociation.org/find-a-financial-therapist

Legal/Estate Planning:

Off the Wall Podcast – Estate Planning: https://bit.ly/3KD1dut

Aging Care, Retirement Communities, Downsizing:

Monument Wealth Management Article – LTC Insurance: https://bit.ly/47w1mte

National Association of Senior and Specialty Move Managers: https://www.nasmm.org

Senior Move Management Service: Great Falls Organizers | Professional & Estate Cleanout Northern Virginia: https://greatfallsorganizers.com

Genworth Long Term Care Costs by State: https://bit.ly/3s8HNHm

Unmet Healthcare Needs and Healthcare Access Gaps Among Uninsured U.S. Adults Aged 50–64: https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7215278

Caregiver Resources:

Geriatric Care Managers: https://bit.ly/3qtGaUa

Lighthouse Senior Care: https://lighthouseseniorcare.com

Caring Considerations: https://caringconsiderations.com

Connect with Monument Wealth Management:

Visit our website: https://bit.ly/monumentwealthwebsite

Follow us on Instagram: https://bit.ly/MonumentWealthIG

Follow us on Twitter: https://bit.ly/MonumentWealthTW

Connect with us on LinkedIn: https://bit.ly/MonumentWealthLI

Connect with us on Facebook: https://bit.ly/MonumentWealthFB

Connect with us on YouTube: https://bit.ly/YouTubeMWMFit

About "Off the Wall":

OFF THE WALL is a podcast for business professionals and high-net-worth investors who want to build wealth with purpose. A little bit Wall Street, a little bit off-the-wall; it's your go-to for straightforward, unfiltered wealth advice on topics that founders, business owners, and executives care about.

Learn more about our hosts, Dave and Jessica on our website at https://monumentwealthmanagement.com.

In this episode of Off the Wall, hosts David Armstrong and Jessica Gibbs are joined by Erin Hay and Nate Tonsager from Monument Wealth Management's portfolio management team. They dive into a lively and comprehensive discussion on market performance and key highlights of the second quarter of 2023.

Tune in to discover their insights on the robust job market, characterized by strong hiring figures and wage growth, the resilience of the market despite negative headlines and the anticipation of higher interest rates, and surprises from the first half of the year, including the absence of a recession and the disconnect between people's perception of their portfolios and market realities.

They also explain why historical data suggests we could possibly have a promising second half of the year and discuss the importance of managing expectations.

"People are still getting wage growth. People have jobs and feel comfortable leaving their jobs because they see their prospects in other markets really kind of in a positive light, which is kind of crazy to think about when, as we said at the start of this, the great recession was coming this year… Really you haven't seen that." - Nate Tonsager, CIPM

If you have an idea for an episode or a guest you'd like us to bring on in Q3, email us at [email protected]. Please see important podcast disclosure information at https://monumentwealthmanagement.com/disclosures.

Episode Timeline/Key Highlights:

[02:30] Q2 market performance summary

[04:19] Top 5 contributors to the S&P 500 in Q2.

[05:35] Worst performer in the S&P 500 during Q2.

[06:15] Surprising trends from the first half of the year.

[09:31] What performed well in Q2?

[18:24] The resilience of the market despite negative news.

[20:45] The discrepancy between individuals' perceptions of their portfolios and market realities.

[23:40] Interpreting the data and actions for investors.

[25:15] Analyzing historical data to project forward returns for the S&P 500.

[27:25] Review your portfolio and adjust based on market conditions.

[30:30] Forecasting the market's trajectory for the remainder of 2023.

Connect with Monument Wealth Management:

Visit our website: https://bit.ly/monumentwealthwebsite

Follow us on Instagram: https://bit.ly/MonumentWealthIG

Follow us on Twitter: https://bit.ly/MonumentWealthTW

Connect with us on LinkedIn: https://bit.ly/MonumentWealthLI

Connect with us on Facebook: https://bit.ly/MonumentWealthFB

About "Off the Wall":

OFF THE WALL is a podcast for business professionals and high-net-worth investors who want to build wealth with purpose. A little bit Wall Street, a little bit off-the-wall; it's your go-to for straightforward, unfiltered wealth advice on topics that founders, business owners, and executives care about. Learn more about our hosts, Dave and Jessica on our website at https://monumentwealthmanagement.com.

Looking to grow your business' value, maximize your exit results, and ensure financial freedom, even during a recession? To learn how, tune in to this episode! This is Part 3 of our series, Business Exit Planning is a Team Sport.

In this episode, hosts David Armstrong and Jessica Gibbs wrap up their three-part discussion with Greg Maddox of Cultivate Advisors by discussing how to maximize your business value and your exit results, all while prioritizing business freedom, financial freedom, and personal freedom.

Doubling down on the importance of hiring a wealth manager during exit planning, Greg talks about how to grow your business as an asset and diversify your income and wealth as a business owner. He then highlights what you should consider if you're looking to maximize your exit options and sell your business during a recession. Finally, Greg addresses the 3 main problems business owners face in planning an exit and how to discern if an all-cash offer is right for you.

Greg is also offering a free resource to help evaluate the health and value of a business: Get Cultivate's Business Health and Value Assessment here: https://bit.ly/3COxTMW

"Instead of chasing profit, if we focus on value first, revenue and profit come along for the ride. If you focus just on revenue and profit, you could probably make a lot of money, but whether or not you built an asset somebody else would pay you for, that's less likely. So, I think it's just a mental shift there." – Greg Maddox

Episode Timeline/Key Highlights:

[00:22] Introducing Greg Maddox & the topic of today's episode.

[01:51] Growing Your Business: The difference between multiplying value and adding revenue.

[03:44] How to multiply the value of your business.

[10:44] Separating Your Business from Your Personal Wealth: Ways to diversify income and wealth as a business owner.

[24:11] Maximizing your exit options during a recession: Evaluating buyers, deal structures, and future roles after exit.

[35:26] Is an all-cash offer worth it? How do you know if it's enough?

[37:02] Greg's final advice: Begin with the end in mind & Build a good exit team.

[42:12] How to connect with Greg.

Please see important podcast disclosure information at https://monumentwealthmanagement.com/disclosures.

Resources Mentioned:

Listen to Part 1: https://bit.ly/gregmaddoxpart1

Listen to Part 2: https://bit.ly/gregmaddoxpt2

Learn more about Cultivate Advisors: https://cultivateadvisors.com

Business Health and Value Assessment (Free): https://bit.ly/3COxTMW

Listen to Best Practices for a Successful Business Exit with Kevin DeSanto: https://bit.ly/3prdBGo

About Greg Maddox:

Greg is a Senior Business & Exit Advisor at Cultivate Advisors in Chicago, IL. As a serial entrepreneur, Greg Maddox provides his clients with the same long-term planning he used to make his own businesses successful. From owning a mortgage company that went through the housing bubble crisis to a financial services company during the '08 financial crash, Greg steered his businesses with clear foresight no matter the turbulent environment. Now, as an advisor, Greg brings exit planning into the present and helps his clients live their Ultimate ExitLifestyle—even if they never sell! And for those ready to move on to the next chapter in their lives, he ensures they are mentally and financially prepared to fund their next step and live an amazing life.

Connect with Greg:

Connect with him on LinkedIn: https://www.linkedin.com/in/gregorymaddox

Visit his website: https://www.myexitlifestyle.com

Email Greg: [email protected]

Connect with Monument Wealth Management:

Visit our website: https://bit.ly/monumentwealthwebsite

Follow us on Instagram: https://bit.ly/MonumentWealthIG

Follow us on Twitter: https://bit.ly/MonumentWealthTW

Connect with us on LinkedIn: https://bit.ly/MonumentWealthLI

Connect with us on Facebook: https://bit.ly/MonumentWealthFB

Connect with us on YouTube: https://bit.ly/YouTubeMWMFit

About "Off the Wall":

OFF THE WALL is a podcast for business professionals and high-net-worth investors who want to build wealth with purpose. A little bit Wall Street, a little bit off-the-wall; it's your go-to for straightforward, unfiltered wealth advice on topics that founders, business owners, and executives care about. Learn more about our hosts, Dave and Jessica on our website at https://monumentwealthmanagement.com.

If you want to keep yourself, your family, and your assets safe throughout your business exit, tune in to this episode. This is Part 2 of our series, Business Exit Planning is a Team Sport.

Tune in as hosts David Armstrong and Jessica Gibbs continue their discussion with Greg Maddox of Cultivate Advisors. In this episode, they're talking about the importance of prioritizing your personal wealth throughout a business exit (separate from business wealth) and why you need an experienced wealth advisor on your advisory team while planning your exit. Greg also teaches you how to identify, address, and manage risks in your business so you can have a smoother exit and post-exit experience. He also breaks down the tax strategies and tips you can use to save money now and set yourself up for success in the future.

"That's what the freedom point is about, it's about how do I sustain my life without my business, or make working in the business optional? That's the freedom that we would eventually have."

– Greg Maddox

Episode Timeline/Key Highlights:

[00:44] Introducing Greg Maddox & the topic of today's episode.

[01:35] Why you should consult a wealth advisor during business exit planning.

[07:18] What's your freedom point?

[13:03] Why do entrepreneurs need a wealth advisor that has experience with business ownership?

[17:01] Separating your personal wealth from your business wealth.

[24:36] How to identify the risks in your business.

[28:46] How to address/manage risks in your organization.

[36:23] The importance of business continuity planning.

[41:05] Tax strategies and tips for business owners who want to exit.

[47:18] Stay tuned for Part 3!

Please see important podcast disclosure information at https://monumentwealthmanagement.com/disclosures.

Resources Mentioned:

Listen to Part 1: https://bit.ly/gregmaddoxpart1

Learn more about Cultivate Advisors: https://cultivateadvisors.com

About Greg Maddox:

Greg is a Senior Business & Exit Advisor at Cultivate Advisors in Chicago, IL. As a serial entrepreneur, Greg Maddox provides his clients with the same long-term planning he used to make his own businesses successful. From owning a mortgage company that went through the housing bubble crisis to a financial services company during the '08 financial crash, Greg steered his businesses with clear foresight no matter the turbulent environment. Now, as an advisor, Greg brings exit planning into the present and helps his clients live their Ultimate ExitLifestyle—even if they never sell! And for those ready to move on to the next chapter in their lives, he ensures they are mentally and financially prepared to fund their next step and live an amazing life.

Connect with Greg:

Connect with him on LinkedIn: https://www.linkedin.com/in/gregorymaddox

Visit his website: https://www.myexitlifestyle.com

Email Greg: [email protected]

Connect with Monument Wealth Management:

Visit our website: https://bit.ly/monumentwealthwebsite

Follow us on Instagram: https://bit.ly/MonumentWealthIG

Follow us on Twitter: https://bit.ly/MonumentWealthTW

Connect with us on LinkedIn: https://bit.ly/MonumentWealthLI

Connect with us on Facebook: https://bit.ly/MonumentWealthFB

Connect with us on YouTube: https://bit.ly/YouTubeMWMFit

About "Off the Wall":

OFF THE WALL is a podcast for business professionals and high-net-worth investors who want to build wealth with purpose. A little bit Wall Street, a little bit off-the-wall; it's your go-to for straightforward, unfiltered wealth advice on topics that founders, business owners, and executives care about. Learn more about our hosts, Dave and Jessica on our website at https://monumentwealthmanagement.com.

Are you a founder/business owner looking to exit your business? Do you want to better understand the exit process and the types of advisors you need on your exit team? You're in the right place. This is Part 1 of our series, Business Exit Planning is a Team Sport.

In this discussion, our guest reframes exit planning in a whole new light, to illustrate how exit planning is just great business strategy. Listen in as hosts David Armstrong and Jessica Gibbs welcome Greg Maddox, a Senior Business & Exit Advisor at Cultivate Advisors, to talk about why you need to run your business with an exit in mind and the three key advisors you need by your side.

You'll also learn three common challenges business owners face and how exit planning can solve them. You'll gain insights on how to figure out your "freedom point" in business, the exit plan action steps you should take while actively running your business, and how to build an exit team that will actually increase your ROI and make your exit process smoother and easier.

"We're all going to exit at some point. Hopefully, it's on our terms and timeline."

– Greg Maddox

Please see important podcast disclosure information at https://monumentwealthmanagement.com/disclosures.

Episode Timeline/Key Highlights:

[00:41] Introducing Greg Maddox & the topic of today's episode.

[02:19] The difference between exit planning and leaving your business.

[07:10] Why 75% of business owners regret selling their business.

[11:36] The mindset shift you go through after exiting your business.

[12:27] Why you need a business exit team & Types of advisors you need.

[20:47] Why do you need a wealth manager for an exit, not just a financial advisor?

[29:00] Why you need to run your business with an exit in mind.

[36:09] Stay tuned for Part 2!

Resources Mentioned:

Learn more about Cultivate Advisors: https://cultivateadvisors.com

About Greg Maddox:

Greg is a Senior Business & Exit Advisor at Cultivate Advisors in Chicago, IL. As a serial entrepreneur, Greg Maddox provides his clients with the same long-term planning he used to make his own businesses successful. From owning a mortgage company that went through the housing bubble crisis to a financial services company during the '08 financial crash, Greg steered his businesses with clear foresight no matter the turbulent environment. Now, as an advisor, Greg brings exit planning into the present and helps his clients live their Ultimate ExitLifestyle—even if they never sell! And for those ready to move on to the next chapter in their lives, he ensures they are mentally and financially prepared to fund their next step and live an amazing life.

Connect with Greg:

Connect with him on LinkedIn: https://www.linkedin.com/in/gregorymaddox

Visit his website: https://www.myexitlifestyle.com

Email Greg: [email protected]

Connect with Monument Wealth Management:

Visit our website: https://bit.ly/monumentwealthwebsite

Follow us on Instagram: https://bit.ly/MonumentWealthIG

Follow us on Twitter: https://bit.ly/MonumentWealthTW

Connect with us on LinkedIn: https://bit.ly/MonumentWealthLI

Connect with us on Facebook: https://bit.ly/MonumentWealthFB

Connect with us on YouTube: https://bit.ly/YouTubeMWMFit

About "Off the Wall":

OFF THE WALL is a podcast for business professionals and high-net-worth investors who want to build wealth with purpose. A little bit Wall Street, a little bit off-the-wall; it's your go-to for straightforward, unfiltered wealth advice on topics that founders, business owners, and executives care about. Learn more about our hosts, Dave and Jessica on our website at https://monumentwealthmanagement.com.

Are you a founder or business owner who’s looking to scale your vision, develop high-level leadership skills, or transition from startup to corporate? Then you’ll want to tune in to this lively discussion with our special guest, Seneca Smith, Senior Manager in the Human Capital Practice at Deloitte Consulting. 

In her work at Deloitte, Seneca advises businesses on how to approach global transformation, specifically focusing on defining the future of work, designing adaptable organizations, and preparing leadership and the workforce for change. 

In this episode of Off the Wall, hosts David Armstrong and Jessica Gibbs talk to Seneca about her experience working with leaders to scale their businesses, vision, and leadership skills. She provides key insights such as why all founders should hire a leadership coach, how to align your business and workforce strategies, and what to do if you’re stuck in the ‘Norming’ stage of business growth. Plus, Seneca shares tips and advice on how you can better delegate responsibilities, so you’re not stuck wearing all the hats as a founder. 

"One of the challenges of getting stuck at ‘norming’ is you are now in a place that is comfortable: You are hitting your targets and doing work in a way that feels operationally efficient—but that doesn't necessarily mean that you're achieving innovative goals. You're not getting to that next stage of performing and really stretching. One of the reasons might be for that fear that you would fall back into ‘storming’ phase because performing includes an element of risk.” - Seneca Smith 

Please see important podcast disclosure information at https://monumentwealthmanagement.com/disclosures.   

Episode Timeline/Key Highlights: 

[00:52] Introducing Seneca Smith & the topic of today’s episode. 

[01:57] Forming, Storming, Norming, & Performing. 

[02:52] What should founders be thinking about and doing when going from startup to formal business (from Forming to Storming)? 

[04:36] Scaling your vision for your business. 

[11:06] What to do if you’re stuck in the Norming stage & How to break into the Performing stage. 

[14:01] Wearing all the hats isn’t sustainable for founders. How can founders better delegate tasks? How do their leadership skills evolve? 

[17:17] Signs you need to hire a leadership coach. 

[20:05] Dave’s experience as a founder working with a leadership coach. 

[23:35] Aligning your business strategy with your workforce strategy + tips for outsourcing. 

Resources Mentioned: 

Learn more about Deloitte Consulting: https://www2.deloitte.com 

About Seneca Smith: 

Seneca is a Senior Manager in Human Capital Practice of Deloitte Consulting. She focuses on strategic organizational / workforce transformation and readiness. She advises Financial Services clients engaged in redesigning their core business operations, workforce strategy, and technical landscape. She uses human-centered design thinking to tackle transformation, with a focus on leadership alignment, change management, culture, and employee engagement. 

Seneca focuses primarily in the insurance sector and has served a broad cross-section of the industry. Her clients include AIG, New York Life, Prudential, Travelers, CNO, Securian, State Farm, Lockton, Auto Club Group, FIS, Bank of America, and Guardian Life. 

Connect with Seneca: 

Connect with her on LinkedIn: https://www.linkedin.com/in/senecamsmith 

Connect with Monument Wealth Management: 

Visit our website: https://bit.ly/monumentwealthwebsite  

Follow us on Instagram: https://bit.ly/MonumentWealthIG  

Follow us on Twitter: https://bit.ly/MonumentWealthTW  

Connect with us on LinkedIn: https://bit.ly/MonumentWealthLI  

Connect with us on Facebook: https://bit.ly/MonumentWealthFB 

Connect with us on YouTube: https://bit.ly/YouTubeMWMFit  

 About “Off the Wall”: 

OFF THE WALL is a podcast for business professionals and high-net-worth investors who want to build wealth with purpose. A little bit Wall Street, a little bit off-the-wall; it's your go-to for straightforward, unfiltered wealth advice on topics that founders, business owners, and executives care about. Learn more about our hosts, Dave and Jessica on our website at https://monumentwealthmanagement.com. 

In this episode of Off the Wall, hosts David Armstrong and Jessica Gibbs are joined by Erin Hay and Nate Tonsager from Monument Wealth Management's portfolio management team to break down what happened in the markets in Q1 2023, along with some takeaways and advice as we head into Q2.

Tune in to hear the team reflect on the US large cap tech dominance, the importance of having a cash strategy, the difference between risk and volatility, and the biggest surprises of the first quarter. They address the significance of the great bank "crisis" of 2023 and share their top advice for investing, saving, and selling your assets in Q2. Plus, Erin and Nate share their opposing predictions (and bet a Jimmy John's sandwich!) on whether the Fed will increase interest rates in 2023.

"My surprise of Q1 2023 is this: If you would have told me that we would in 2023 have experienced the second and third largest bank failures in U.S. history and then told me that we would end the quarter positive with only a 7% drawdown in between, I would have said, you're crazy." - Erin Hay, CFA

Please see important podcast disclosure information at https://monumentwealthmanagement.com/disclosures.

Episode Timeline/Key Highlights:

[00:33] Introducing the topic of today's episode

[01:29] Q1 Market Summary – What happened in Q1?

[04:10] Highest and lowest performing market sectors of Q1 of 2023

[06:40] What equity markets performed well in Q1? & How tech layoffs impact the tech sector

[09:39] There's an issue with leadership and breadth in the market…

[11:56] What surprised us about international (non-US) stocks

[13:57] Don't make these assumptions when investing in Q2

[14:54] Let's talk about investing & saving your cash in Q2

[16:04] Other market surprises from Q1 (hint: we're talking about banks!)

[23:56] Major takeaways from Q1 of 2023

[28:17] Market predictions for Q2 and the rest of 2023

Resources Mentioned:

Blog - Investing Risk and Volatility Aren't the Same: http://bit.ly/3MnG499

Blog – Why Risk Makes You Wealthy: https://bit.ly/3ZESBrW

Susquehanna research about US large-cap tech leadership: https://bit.ly/3KvJkge

Blog – What Happened to Silicon Valley Bank (In Plain English): https://bit.ly/svbcollapse

JP Morgan's Guide to the Markets: http://bit.ly/417YgYm

Connect with Monument Wealth Management:

Visit our website: https://bit.ly/monumentwealthwebsite

Follow us on Instagram: https://bit.ly/MonumentWealthIG

Follow us on Twitter: https://bit.ly/MonumentWealthTW

Connect with us on LinkedIn: https://bit.ly/MonumentWealthLI

Connect with us on Facebook: https://bit.ly/MonumentWealthFB

About "Off the Wall":

OFF THE WALL is a podcast for business professionals and high-net-worth investors who want to build wealth with purpose. A little bit Wall Street, a little bit off-the-wall; it's your go-to for straightforward, unfiltered wealth advice on topics that founders, business owners, and executives care about. Learn more about our hosts, Dave and Jessica on our website at https://monumentwealthmanagement.com.

SECURE Act 2.0 created new retirement and savings opportunities that were not part of the original SECURE Act. Notably, it gives business owners the ability to be more strategic when choosing what kind of tax-deferred plan is best for them based on their personal and business circumstances. And it also gave them more options for employees. So why should business owners be thinking about meaningful and inspired ways to retain employees and focus on overall employee well-being?

In this episode of Off the Wall, host Jessica Gibbs, CFP® speaks with Emily Harper, CFP®, Vice President and Partner at Monument Wealth Management. Emily breaks down what business owners need to know about the SECURE Act 2.0, the types of retirement plans that are not available, and the deadlines that have changed. She also explains the factors to consider when choosing between a Solo 401K and a SEP IRA, and highlights opportunities employers now have to support employees, including through matching contributions to Roth retirement plans and matching amounts an employee paid toward student loan debt.

Then Caroline Clark, a Human Resources Business Partner at Capital One, joins the episode to discuss the significance of creating a meaningful benefits package that meets employees' needs and is easy to access and use. Caroline shares trends in company benefits, and tips for business owners who want to create a benefits package but aren't sure where to start.

Caroline and Emily also delve into the philosophy of "Stakeholder Theory"—which stresses the interconnected relationships between a business and its customers, employees, communities, and others who have a stake in an organization, including the business owner—and its value in creating positive, far-reaching effects.

"If you take care of the associate, the associate will take care of the customer, and the customer will keep coming back." – Caroline Clark

Please see important podcast disclosure information at https://monumentwealthmanagement.com/disclosures.

Episode Timeline/Key Highlights:

[02:08] Retirement savings enhancements for business owners under SECURE Act 2.0 [04:34] Factors to consider when choosing between a Solo 401K and a SEP IRA[08:45] Expanded Roth savings opportunities [12:39] The importance of considering employee well-being and how SECURE Act 2.0 can help [15:55] Current trends in employee benefit offerings [20:32] The importance of collecting feedback from employees to create successful benefits packages [22:30] How to create meaningful benefits packages [23:29] Ensuring ease of access to benefits for maximum employee value [26:50] How employers can reconcile which benefits they can realistically provide with their desired offerings [28:25] An explanation of Stakeholder Theory and how it generates values for the business, the employee and the customer [32:26] Final advice for business owners on balancing personal priorities with business needs

About Caroline Clark:

Caroline Clark is a Senior Manager, Human Resources Business Partner at Capital One where she works with leaders in US Card. Caroline has spent her career working across a variety of industries solving business problems through human solutions. Previously, Caroline led talent strategy and acquisition at the American Bankers Association and Marriott International. Caroline received her MBA from The University of Virginia, Darden School of Business where she served as the President of the Network of Executive Women and was recognized with the C. Stewart Sheppard Distinguished Service award. You can find her taking walks or catching the latest Formula 1 race on the weekends with her husband, Matt, son, Luke, and Spanish Water Dog, Cooper. Connect with Caroline on LinkedIn : https://www.linkedin.com/in/carolinekclark/

Resources Mentioned:

Gallup Employee Wellbeing: https://www.gallup.com/workplace/215924/well-being.aspx

Education Data Initiative: https://educationdata.org/student-loan-debt-statistics

Stakeholder Theory & R. Edward Freeman: https://www.darden.virginia.edu/faculty-research/directory/r-edward-freeman

Connect with Monument Wealth Management: Visit our website: https://bit.ly/monumentwealthwebsite Follow us on Instagram: https://bit.ly/MonumentWealthIG Follow us on Twitter: https://bit.ly/MonumentWealthTW Connect with us on LinkedIn: https://bit.ly/MonumentWealthLI Connect with us on Facebook: https://bit.ly/MonumentWealthFB

About "Off the Wall": OFF THE WALL is a podcast for business professionals and high-net-worth investors who want to build wealth with purpose. A little bit Wall Street, a little bit off-the-wall; it's your go-to for straightforward, unfiltered wealth advice on topics that founders, business owners, and executives care about.

Learn more about our hosts, Dave and Jessica on our website at https://monumentwealthmanagement.com.

Please see important podcast disclosure information at https://monumentwealthmanagement.com/disclosures.

What is the Flexible Asset Allocation strategy and how do we use it to manage your wealth? Great question! Tune in to this episode to learn everything you need to know about it.

In this episode of Off the Wall, hosts David Armstrong and Jessica Gibbs invite Monument's Erin Hay, CFA, and Nate Tonsager, CIPM, to talk about the Flexible Asset Allocation (FAA) Model –what it is, where we use it and don't use it, and how it impacts you and your wealth portfolio.

"The FAA strategy can be the bulk of your portfolio. Sometimes, it might even be your full portfolio because what it does is it navigates risk, and that's what we're doing here is we're trying to identify the trends in the market and take a different standpoint than just a 'set it and forget it' kind of model." – Erin Hay

Stay tuned for more episodes just like this one where the team breaks down the other various investment strategies we use at Monument Wealth Management!

Please see important podcast disclosure information at https://monumentwealthmanagement.com/disclosures.

Episode Timeline/Key Highlights:

[00:33] Introducing the topic of today's episode.

[01:38] What is Flexible Asset Allocation?

[03:38] What is a "trend" in asset management?

[09:59] Why we don't deviate from the rules: The systematic part of FAA.

[12:01] Risk and return of the flexible asset allocation strategy.

[17:22] What types of assets do you invest in with flexible asset allocation?

[20:35] Our process for deciding your asset allocation.

[24:06] Why don't we do weekly flexible asset allocation?

[25:20] Can I be 100% allocated to stocks?

[26:06] When the flexible asset allocation model works and doesn't work.

Resources Mentioned:

OECD: https://www.oecd.org

Connect with Monument Wealth Management:

Visit our website: https://bit.ly/monumentwealthwebsite

Follow us on Instagram: https://bit.ly/MonumentWealthIG

Follow us on Twitter: https://bit.ly/MonumentWealthTW

Connect with us on LinkedIn: https://bit.ly/MonumentWealthLI

Connect with us on Facebook: https://bit.ly/MonumentWealthFB

About "Off the Wall":

OFF THE WALL is a podcast for business professionals and high-net-worth investors who want to build wealth with purpose. A little bit Wall Street, a little bit off-the-wall; it's your go-to for straightforward, unfiltered wealth advice on topics that founders, business owners, and executives care about.

Learn more about our hosts, Dave and Jessica on our website at https://monumentwealthmanagement.com.

Want to support your child's education, but don't know where to start? Worried that contributing to your child's college fund may impact building your retirement account? Saving for college can be nerve-wracking, but we promise this episode will make it less scary and more empowering.

In this episode of Off the Wall, hosts David Armstrong and Jessica Gibbs welcome Ann Garcia, aka The College Financial Lady. Ann is a CERTIFIED FINANCIAL PLANNER™, Managing Partner of Independent Progressive Advisors, and a mother of twin college students. As The College Financial Lady, Ann has helped thousands of students save money on college education while protecting their parents' financial futures.

Tune in to learn Ann's top tips and advice on saving money for college, the different ways you can use your 529 savings plan, and how to take advantage of scholarships and financial aid. Plus, she offers helpful advice on talking to your kids about money and college.

"The sooner you set up a 529 and start an automatic monthly contribution, even if it's $10 a month, the better off you're going to be in the long run." – Ann Garcia

*Please see important podcast disclosure information at https://monumentwealthmanagement.com/disclosures.

Episode Timeline/Key Highlights:

[00:50] Introducing Ann Garcia & the topic of today's episode.

[01:56] Is going to college a good investment?

[07:56] The dangers of pushing your child to be a high achiever.

[11:23] Explaining weighted vs. unweighted GPA & Which GPA do colleges look at?

[14:14] Two ways to answer: How much should I save for my kid's college fund?

[19:44] How to set aside money for a college fund without compromising your retirement.

[22:02] Why you should use a college's net price calculator.

[23:00] How to roll over surplus 529 money using the new provision in the SECURE 2.0 Act.

[26:52] Talking to your kids about money and college.

[29:40] What you need to know about college scholarships and financial aid.

Resources Mentioned:

Take Ann's Masterclass - How to Pay for College: http://bit.ly/3YjwvLu

How to Pay for College by Ann Garcia, CFP®: http://bit.ly/3DZkTFs

About Ann Garcia:

Ann Garcia, CFP®, is the Owner of Independent Progressive Advisors, a fee-only Registered Investment Advisor in Portland OR, and author of The College Financial Lady blog (thecollegefinanciallady.com), which has over 15,000 subscribers. In addition, Ann is regularly cited in national media (New York Times, US News & World Report) on the subject of college planning. She earned a BA from the University of California, Berkeley, and is a member of Phi Beta Kappa and of NAPFA, the leading association of fee-only financial advisors. Ann is also a parent of twins who are attending their top-choice colleges.

Connect with Ann:

Visit her website: https://thecollegefinanciallady.com

Connect with her on Facebook: https://www.facebook.com/collegefinanciallady

Connect with Monument Wealth Management:

Visit our website: https://bit.ly/monumentwealthwebsite

Follow us on Instagram: https://bit.ly/MonumentWealthIG

Follow us on Twitter: https://bit.ly/MonumentWealthTW

Connect with us on LinkedIn: https://bit.ly/MonumentWealthLI

Connect with us on Facebook: https://bit.ly/MonumentWealthFB

About "Off the Wall":

OFF THE WALL is a podcast for business professionals and high-net-worth investors who want to build wealth with purpose. A little bit Wall Street, a little bit off-the-wall; it's the go-to podcast for straightforward, unfiltered wealth advice on topics that founders, business owners, and executives care about. Learn more about our hosts, Dave and Jessica on our website at https://monumentwealthmanagement.com.