“We focus on sustainability not because we’re environmentalists, but because we’re capitalists and fiduciaries to our clients.”

That’s a quote by Larry Fink, CEO of BlackRock, the world’s largest asset manager, and it gets to the heart of today’s episode, in which Stephanie and Kevin revisit the topic of ESG (Environmental, Social, and Governance) investing.

If you haven’t already, take a listen to the previous episode of the podcast (episode 34) where our hosts delved into ESG investing with the inimitable Liz Simmie of Honeytree Investment Management.

Listen in as Stephanie and Kevin give a brief history of ESG and explore exactly what each of these three letters mean in the context of pinpointing companies that align with this purpose-driven movement. They also discuss some considerations to make if you’re somebody who is looking into this fascinating approach to investing.

Key Topics:

• Why is TBR talking ESG? (2:31)
• Kevin gives a brief history of ESG and SRI (Socially Responsible Investing). (4:02)
• Stephanie’s take on SRI. (6:02)
• Unpacking each letter in “ESG.” (8:38)
• The ESG philosophy and evaluating how well companies align with it. (11:02)
• “But you’re giving up performance! Why would you want to do that?” (15:12)
• Compromises that some make when investing in ESG funds. (17:58)
• Considerations around ESG investing for beginners. (21:42)

Resources Mentioned:

• Take Back Retirement Episode 34: What the Heck is ESG Investing with Liz Simmie

If you like what you’ve been hearing, we invite you to subscribe on your favorite platform and leave us a review. Tell us what you love about this episode! Or better yet, tell us what you want to hear more of in the future. [email protected] 

You can find the transcript and more information about this episode at www.takebackretirement.com.

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Today, Stephanie and Kevin sit down with Liz Simmie, Co-Founder of Toronto-based Honeytree Investment Management, which just so happens to be one of the very few women-led responsible asset management firms around the world.

Honeytree truly believes that ESG (Environmental, Social, and Governance) data is just as important to assessing a company’s long-term growth and risk as financial data, and so they integrate both, equally. In other words, ESG is real investing!

With the belief that, “ESG is a core function of the board and the management team and part of day-to-day operations in all aspects of the business,” Liz tackles the all-too common pitfalls of ESG initiatives and by extension the usual criticisms that crop up against them. She paints a detailed picture of ESG done right and its resulting impact on an organization’s long-term bottom line.

Values-aligned investing is a big topic for us in 2022, so we’re excited to dive deep into the nuts and bolts of ESG investing with Liz!

Key Topics:

Defining “ESG” (2:03)

Liz’s journey and Honeytree (9:05)

Addressing greenwashing, pinkwashing, and other ESG stereotypes (15:40)

“Both Canada and Europe are way, way, way behind the U.S. on workforce racial diversity disclosure.” (23:35)

The case for stakeholder-governed businesses (26:53)

“We remember when ESG was SRI (Socially-Responsible Investing)…” (31:39)

“We’re whatever the opposite of activist investors are.” (37:35)

How to connect with Liz (41:50)

Stephanie and Kevin’s closing thoughts (43:38)

Resources Mentioned:

• Follow Liz on Twitter at twitter.com/LizSimmie
• Learn more about Honeytree Investment Management at www.honeytreeinvest.com.

If you like what you’ve been hearing, we invite you to subscribe on your favorite platform and leave us a review. Tell us what you love about this episode! Or better yet, tell us what you want to hear more of in the future. [email protected] 

You can find the transcript and more information about this episode at www.takebackretirement.com.

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Today, Stephanie and Kevin cover a topic that can often get confusing for many people: the estate and gift tax system. This is different from the income tax system, and both are federal tax systems that everyone needs to be aware of when planning for retirement.

At the end of the day, the IRS is getting paid. The only two questions, then, are: Who pays? and When? Our hosts tackle these questions and more.

While today’s discussion is a big picture overview of the estate and gift tax system, it will give you a general grasp of the concepts and vocabulary that will make your next meeting with your accountant or estate planning attorney a more insightful and productive one.

Key Topics:

“At the end of the day, the IRS is getting paid.” (2:47)

Defining estate taxes. (4:02)

What are “exclusion amounts?” (6:14)

Defining gift taxes. (8:16)

Maximizing how much your beneficiaries inherit. (11:53)

“My parents can only give me $16,000 a year…” Why this isn’t true. (17:30)

“I want to avoid probate, because if I can do that, then I’m not going to pay estate tax…” Why this isn’t true. (22:11)

Resources Mentioned:

• Take Back Retirement Episode 31: What the Heck is a Trust, and Why Might I Need One?
• Take Back Retirement Episode 32: True Confessions of Two Financial Planners.

If you like what you’ve been hearing, we invite you to subscribe on your favorite platform and leave us a review. Tell us what you love about this episode! Or better yet, tell us what you want to hear more of in the future. [email protected] 

You can find the transcript and more information about this episode at www.takebackretirement.com.

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Today, Stephanie and Kevin offer a unique perspective on the show by diving deep into their own backgrounds as financial planners.

The two kick things off with a brief history of their first jobs before reflecting on their first ever roles in the financial services industry.

Then, Stephanie discusses the inspiration behind Sofia Financial and how she and Kevin came to work together.

Finally, the pair do a rapid-fire Q&A, revealing a few little known tidbits about our hosts, from their guilty pleasures to their financial pet peeves to their dumbest purchases!

Key Topics:

• Stephanie and Kevin’s first jobs. (1:27)
• Entering the financial services industry. (6:37)
• From boiler room newbie to Certified Financial Planner. (12:28)
• “Where did ‘Sofia’ come from?” (16:05)
• What Kevin likes best about his current role. (20:22)
• How about Stephanie? (24:07)
• Rapid-fire Q&A. (26:17)

Resources Mentioned:

• Video: “Guy Suddenly Gets Disappointed After Looking at His First Paycheck”

If you like what you’ve been hearing, we invite you to subscribe on your favorite platform and leave us a review. Tell us what you love about this episode! Or better yet, tell us what you want to hear more of in the future. [email protected] 

You can find the transcript and more information about this episode at www.takebackretirement.com.

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Trusts.

What the heck are they and why might it be a good idea for you to have one?

Most people believe that trusts are this elusive thing reserved for the uber-wealthy…

…or have only heard of it as being a sort of plot device in a movie or murder mystery.

Joining us today is attorney Shannon Evans, a recognized expert in the area of trusts and estate planning. She practices out of Las Vegas and is a frequent speaker on the conference circuit.

With so much confusion around trusts, Shannon is a refreshing presence that gets to the heart of the matter real quick. She demonstrates that trusts are a lot more pedestrian—and a lot more useful—than most would think.

Key Topics:

So… What is a trust, exactly? (3:27)

Who should have a trust? (8:06)

What is an “irrevocable trust”? (14:39)

What you should take into consideration if someone asks you to be a trustee. (18:40)

In which state should you set up your trust? (22:48)

Why should you NOT have IRAs in trusts? (25:33)

Who is the fiduciary of a trust? (29:31)

Updating beneficiaries (33:51)

Stephanie and Kevin’s closing thoughts (40:49)

Resources Mentioned:

• Take Back Retirement Episode 14: What Women Need to Know About Caregiving and Elder Law with Cathy Sikorski
• Evans & Associates

If you like what you’ve been hearing, we invite you to subscribe on your favorite platform and leave us a review. Tell us what you love about this episode! Or better yet, tell us what you want to hear more of in the future. [email protected] 

You can find the transcript and more information about this episode at www.takebackretirement.com.

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You did it. You made the leap.

You left behind that corporate 9-to-5, the micromanaging boss, the freeloading coworker...

Now, you’ve started your own thing. You have endless potential. The world is your oyster. You can do what you’ve always dreamed of.

It’s a dream many of us are striving for. But, it’s easy to forget that we still should be saving for retirement. As a self-employed person or a business owner, how do we pick the right retirement plan to set ourselves up for success?

Listen in as Stephanie and Kevin shine a torch to guide us down the exciting but often muddy path to retirement by speaking on how to choose between the different retirement savings options available.

Key Topics:

“SEP-IRAs still may be the best option for you, but…” (2:37)

How do you save for retirement on a tax-favored basis if you’re self-employed? (2:50)

How to decide on the best plan or account option for you. (9:25)

The traditional and Roth IRA. (13:58)

The SEP-IRA. (20:10)

The SIMPLE IRA. (24:11)

How to save “gobs and gobs of money” with a pension plan. (28:35)

Stephanie and Kevin’s closing thoughts. (30:35)

Resources Mentioned:

• IRS Publication 560
• https://www.irs.gov/retirement-plans/retirement-plans-for-small-entities-and-self-employed          IRS landing page for Small Business retirement plans
• https://www.irs.gov/pub/irs-tege/rollover_chart.pdf        Rollover Chart
• Take Back Retirement Episode: 12: What Women Need to Know About IRA's, with Sarah Brenner
• Take Back Retirement Episode: 20: Women + Roth IRA's - What Should You Be Aware Of?

If you like what you’ve been hearing, we invite you to subscribe on your favorite platform and leave us a review. Tell us what you love about this episode! Or better yet, tell us what you want to hear more of in the future. [email protected] 

You can find the transcript and more information about this episode at www.takebackretirement.com.

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“How much money should I have in the bank?”

It’s a question that Stephanie and Kevin hear on a very regular basis.

No doubt about it: it’s important to have cash on hand; but, with a well-thought-out financial plan, you can really start to make cash work for you.

Listen in as Stephanie and Kevin invite listeners to sort out the purpose of their dollars to know where they should be going. They delve into the question of liquidity and the actual level of accessibility of different cash vehicles, from your bank checking account to your Venmo wallet.

After explaining the characteristics of cash and where to keep it, they talk about how much one should have in cash, and how to invest in your financial future if you happen to have more than enough cash.

Key Topics:

The job of money. (1:41)

What exactly does “cash” mean and where should you put it? (3:32)

The difference between saving and investing. (5:56)

Different places in which you can hold cash. (08:41)

Why your line of credit doesn’t count as part of your cash. (11:28)

Three factors to take note of in order to figure out how much cash you need. (12:58)

“Cash gives you flexibility, and you want flexibility when you’re not sure.” (16:50)

Have more cash on hand than you need right now? What do you do with it? (20:35)

How to invest without tax breaks. (24:59)

Why Stephanie is a big fan of cash. (28:51)

Resources Mentioned:

• Take Back Retirement Episode 20: Women + Roth IRA’s - What Should You Be Aware Of? (https://bit.ly/3Bpd1Zz)
• Take Back Retirement Episode 27: Health Savings Accounts (HSA’s): What Women Need to Know (https://bit.ly/3vX0Bap)

If you like what you’ve been hearing, we invite you to subscribe on your favorite platform and leave us a review. Tell us what you love about this episode! Or better yet, tell us what you want to hear more of in the future. [email protected]

You can find the transcript and more information about this episode at www.takebackretirement.com.

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Today’s guest is Dr. Barbara Provost, a business coach, professor, and entrepreneur with a Doctorate in Adult and Higher Education. She has a long history as a consultant in the financial services sector.

Dr. Barb has taken her expertise into her latest venture, Purse Strings, which offers free financial education and resources for women.

Listen in as Dr. Barb shares how her initiative aims to tackle the lack of safe spaces for women to ask questions and take control of their financial future. She also offers practical strategies for marketing to women (hint: it’s not as simple as “pink-it-and-shrink-it”!).

Key Topics:

• The Purse Strings origin story. (1:55)
• What to know about working with women. (7:39)
• How women learn vs men. (11:41)
• “I started being really thoughtful about how I spent all of my money.” (11:00)
• How more women have taken up more positions of authority. (15:33)
• How Purse Strings serves as a support group for women in times of transition. (18:41)
• Communicating with women in a business conversation. (22:49)
• “Respect and dignity is everything.” (25:30)
• Questions from women that surprised Dr. Provost when she first started Purse Strings. (25:57)
• “If we’re not talking about money, we’re not learning about money.” (31:50)
• How to learn more about Purse Strings. (33:41)
• Stephanie and Kevin’s biggest takeaways. (35:18)

Resources Mentioned:

• Purse Strings Website

https://pursestrings.co/

• Purse Strings Facebook Group

https://www.facebook.com/groups/pursestringfinanciallyfearlesswomen

If you like what you’ve been hearing, we invite you to subscribe on your favorite platform and leave us a review. Tell us what you love about this episode! Or better yet, tell us what you want to hear more of in the future. [email protected]

You can find the transcript and more information about this episode at www.takebackretirement.com.

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Today we talk all things Health Savings Accounts. An HSA can be a really powerful savings tool but, like everything else in the world of finance, it literally pays to know the game and play by the rules.

The HSA can serve as a long-term savings account for medical expenses sometime in your lifetime—whether one week down the road or 40 years down the road. It is the only type of account that, when done right, gives you triple (and maybe quadruple) tax advantages.

This sounds like a great deal, which then begs the question: “Why isn’t everybody starting an HSA and dumping all their money into it?”

Listen in as Stephanie and Kevin answer that question and more, including best practices for putting money in and taking money out of your account, what your HSA may be able to cover that a typical medical insurance plan doesn’t, and how to ultimately decide whether or not to take advantage of this (potentially) powerful financial vehicle.

Key Topics:

• The difference between a Flexible Spending Account (FSA) and an HSA. (4:25)
• The HSA’s four tax advantages. (07:29)
• “So, this sounds awesome. Why doesn’t everybody put all their money into this thing?” (9:01)
• If you have a high-deductible health plan, can you put a large sum into an HSA? (11:28)
• Considerations around HSA catch-up contributions. (15:11)
• When to take money out of an HSA. (16:30)
• What your HSA covers that your typical medical insurance doesn’t. (20:02)
• “What happens if I die and I’ve got a balance in my HSA?” (24:06)
• How to decide whether or not to open an HSA. (28:15)
• “With an HSA, you don’t have to have earned income.” (32:21)

Resources Mentioned:

• Take Back Retirement episode 24: She Did It! Real Retirement Stories w/ KT

https://takebackretirement.com/podcasts/she-did-it-real-retirement-stories-w-kt/

• Take Back Retirement episode 15: What Women Need to Know About Social Security

https://takebackretirement.com/podcasts/what-women-need-to-know-about-social-security/

If you like what you’ve been hearing, we invite you to subscribe on your favorite platform and leave us a review. Tell us what you love about this episode! Or better yet, tell us what you want to hear more of in the future. [email protected]

You can find the transcript and more information about this episode at www.takebackretirement.com.

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Today, we sit down with Kathleen Burns Kingsbury, a wealth psychology expert, founder of KBK Wealth Connection, and host of the Breaking Money Silence® Podcast.

Kathleen is a highly sought-after speaker for financial industry conferences and is the author of five books, her latest being Breaking Money Silence®: How to Shatter Money Taboos, Talk More Openly about Finances, and Live a Richer Life.

Listen in as Stephanie, Kevin, and Kathleen dive into the rather sticky topics related to women, money, and power, from dealing with unconscious bias in the workplace, to gathering the courage to ask for a raise, to considerations around money and power dynamics within couples.

Key Topics:

What does money and power for women mean to Kathleen? (2:41)

Our thoughts on how women seek financial advice versus men. (4:47)

Cultural barriers to women's empowerment around their finances. (10:00)

The power of building a support system. (11:29)

Dealing with unconscious bias and gaining the courage - and skills -  to ask for a raise. (13:29)

Psychologically, what gets in the way of women charging what we’re really worth? (17:18)

“I don’t want to ask for more because it’s greedy to do so.” (22:55)

Kathleen’s advice to spouses around power and money dynamics. (27:43)

Shared goals versus independent goals. (32:15)

Kathleen’s upcoming courses and programs. (33:45)

About Kathleen’s Creating Wealth From The Inside Out Workbook. (35:05)

Stephanie and Kevin’s closing thoughts. (38:00)

Resources Mentioned:

• Use Code: TAKEBACK10 to get 10% off any full priced course!
• Breaking Money Silence® Learning Lab (online courses)

https://courses.breakingmoneysilence.com/

• Negotiating Your Fees with Confidence Master Class

http://www.breakingmoneysilence.com/negotiating-masterclass/

• Negotiating Your Fees with Confidence Course

https://breakingmoneysilence.vipmembervault.com/products/courses/view/1026985

• How to Conquer Your Fear of Negotiating (free online course)

https://breakingmoneysilence.vipmembervault.com/products/courses/view/1023642

• Breaking Money Silence®: How to Shatter Money Taboos, Talk More Openly about Finances, and Live a Richer Life (book)

https://www.breakingmoneysilence.com/books/

• Creating Wealth From The Inside Out Workbook (book)

https://www.breakingmoneysilence.com/books/

• Other books by Kathleen Burns Kingsbury

https://www.breakingmoneysilence.com/books/

If you like what you’ve been hearing, we invite you to subscribe on your favorite platform and leave us a review. Tell us what you love about this episode! Or better yet, tell us what you want to hear more of in the future. [email protected]

You can find the transcript and more information about this episode at www.takebackretirement.com.

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