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The Fit Wealth Show
The Fit Wealth Show episodes
- 125. How to Pay Your Kids from Your Business to Save Money on Taxes
Welcome to The Fit Wealth Show, have you ever wondered if adding your kids to your payroll could save you money on taxes? Is it too good to be true, is it something that the IRS frowns upon? Well stay tuned for today’s episode of the Fit Wealth Show where we talk about the ins and outs and “how to’s” for paying your kids from your business.
- What is the purpose or goal of paying your kids from your business
- The 3 Steps for Paying your Kids from your business
- How to implement this as a tax strategy for your business
- How to use the money you pay your kids
- How to make your kids millionaires with the money they make
Thank you for listening to the Fit Wealth Show. If you liked this episode, please be sure to subscribe and leave a review. Find me on Instagram at the @fitwealthadvisor or if you’d like to know how you can work with me directly, Visit me at fitwealthadvisors.com
IG: Shawn @fitwealthadvisor
IG: Amanda @thefitfinancial_
The Fit Wealth Show is brought to you by Fit wealth advisors. Fit Wealth Advisors is an investment adviser registered under the Investment Advisers Act of 1940. Registration as an investment adviser does not imply any level of skill or training. This presentation has been provided for informational purposes only and is not intended as legal or investment advice or a recommendation of any particular security or strategy. The investment strategy and themes discussed herein may be unsuitable for investors depending on their specific investment objectives and financial situation.
42 min - 124. Infinite Banking Explained, Why it's Talked About During a Down Market
Welcome to The Fit Wealth Show. During uncertain times, financial strategies that emphasize stability and long-term gain often get increased attention. Life insurance banking for example, often associated with the Rockefeller family is one of these strategies frequently marketed by “wealth guru’s” everywhere, but is this strategy what they say it is? In this episode of the Fit Wealth Show, we’re talking about what life insurance banking really is and when it might be or may not be relevant for the business owner. This is the Fit Wealth Show!
Because Insurance is such a big part of the financial planning process, I wanted to bring up this popular topic in the life insurance sales world, with it being an election year, it can spark volatility, which then also sparks this big topic of “what the Rockefeller's did” to create generational wealth, aside from being the richest family in America in the first place.
- What is Infinite Banking or Life Insurance Banking?
- Why life insurance banking is so popular during a down market?
- How the Rockefeller Family Uses this concept
- Why is there a divide between a financial planner and life insurance agent?
- How does life insurance banking impact one's overall financial forecast?
- When should a business owner ever consider life insurance?
Thank you for listening to the Fit Wealth Show. If you liked this episode, please be sure to subscribe and leave a review. Find me on Instagram at the @fitwealthadvisor or if you’d like to know how you can work with me directly, Visit me at fitwealthadvisors.com
IG: Shawn @fitwealthadvisor
IG: Amanda @thefitfinanical_
The Fit Wealth Show is brought to you by Fit wealth advisors. Fit Wealth Advisors is an investment adviser registered under the Investment Advisers Act of 1940. Registration as an investment adviser does not imply any level of skill or training. This presentation has been provided for informational purposes only and is not intended as legal or investment advice or a recommendation of any particular security or strategy. The investment strategy and themes discussed herein may be unsuitable for investors depending on their specific investment objectives and financial situation.
39 min - 123. To Rent or Buy in 2024 and How to Prepare as a Business Owner
Welcome to The Fit Wealth Show. The decision between whether or not to rent or to buy a home is one of the most significant financial choices a person will have to make. There are both advantages and disadvantages to each side. Today on the show, we’re diving into the topic of whether to rent or to buy in 2024 and also, what you can do to be prepared as a business owner if buying is in your near future. This is the Fit Wealth Show!
- Renting vs. Buying, the good and bad
- Duration of stay
- How important are market conditions
- Building investment/equity
- Preparing for homeownership as a business owner
- What will the bank want to see?
Thank you for listening to the Fit Wealth Show. If you liked this episode, please be sure to subscribe and leave a review. Find me on Instagram at the @fitwealthadvisor or if you’d like to know how you can work with me directly, Visit me at fitwealthadvisors.com
IG: Shawn @fitwealthadvisor
The Fit Wealth Show is brought to you by Fit wealth advisors. Fit Wealth Advisors is an investment adviser registered under the Investment Advisers Act of 1940. Registration as an investment adviser does not imply any level of skill or training. This presentation has been provided for informational purposes only and is not intended as legal or investment advice or a recommendation of any particular security or strategy. The investment strategy and themes discussed herein may be unsuitable for investors depending on their specific investment objectives and financial situation.
38 min - 122. Wealth is Often Silent, How to Build Your Wealth as a Business Owner
Welcome to The Fit Wealth Show. Today, the concept that wealth is often built silently, the idea the true financial success is about stability, security and making informed financial decisions instead of boasting and showing off all of the latest trends. This is the Fit Wealth Show!
- The nature of silent wealth
- How does this happen with compounding interest
- We've watched this firsthand personally and with clients who understand their money
- Making educated financial decisions, instead of putting your back against the wall
Thank you for listening to the Fit Wealth Show. If you liked this episode, please be sure to subscribe and leave a review. Find me on Instagram at the @fitwealthadvisor or if you’d like to know how you can work with me directly, Visit me at fitwealthadvisors.com
Follow Shawn on Instagram @fitwealthadvisor
The Fit Wealth Show is brought to you by Fit wealth advisors. Fit Wealth Advisors is an investment adviser registered under the Investment Advisers Act of 1940. Registration as an investment adviser does not imply any level of skill or training. This presentation has been provided for informational purposes only and is not intended as legal or investment advice or a recommendation of any particular security or strategy. The investment strategy and themes discussed herein may be unsuitable for investors depending on their specific investment objectives and financial situation.
38 min - 121. Why is Cash Considered King for a Business Owner?
You’re listening to the The Fit Wealth Show. Today, we are talking about the importance of having cash on hand as a business owner. It’s crucial not just for expanding your business but also for seizing unexpected opportunities that might come your way. Having readily available funds could allow you to act quickly on opportunities, potentially driving significant growth in your net worth. Today, let’s talk strategies to maintain a healthy cash reserve and how it can propel your business forward.
- In this episode we share our story of how us having cash opened a door for an investment property
- We walk through the business owners financial order of operations
- Where do future dreams come in, in business?
- What about low interest debt payoff?
Thank you for listening to the Fit Wealth Show. If you liked this episode, please be sure to subscribe and leave a review. Find me on Instagram at the @fitwealthadvisor or if you’d like to know how you can work with me directly, Visit me at fitwealthadvisors.com
Please visit Shawn on Instagram at @shawnhanquist
The Fit Wealth Show is brought to you by Fit wealth advisors. Fit Wealth Advisors is an investment adviser registered under the Investment Advisers Act of 1940. Registration as an investment adviser does not imply any level of skill or training. This presentation has been provided for informational purposes only and is not intended as legal or investment advice or a recommendation of any particular security or strategy. The investment strategy and themes discussed herein may be unsuitable for investors depending on their specific investment objectives and financial situation.
25 min - In this episode we share our story of how us having cash opened a door for an investment property
- 120. Cybercrime and the Financial Damage
I’m Amanda Hanquist, the Fit Financial, have you ever or do you know anyone who has ever been a victim of financial cybercrime? Well, we do, and it happened to us personally. Today on the podcast, we’re talking about cybercrimes, what you need to be aware of, how you can protect yourself and of course telling our story of our $100,000 loss. This is the Fit Financial.
- Who investigates Cyber crimes?
- The biggest concerns when it comes to cybercrime
- Who is primarily at risk?
- What are cyber criminals targeting?
- What do consumers need to watch out for?
Thank you for listening to The Fit Financial. If you liked this episode, please be sure to subscribe and leave a review. Find me on Instagram at the fit financial or if you’d like to know how you can work with us directly, Visit us at fitwealthadvisors.com
IG: Amanda @thefitfinancial_
IG: Shawn @shawnhanquist
The fit financial is brought to you by Fit wealth advisors. Fit Wealth Advisors is an investment adviser registered under the Investment Advisers Act of 1940. Registration as an investment adviser does not imply any level of skill or training. This presentation has been provided for informational purposes only and is not intended as legal or investment advice or a recommendation of any particular security or strategy. The investment strategy and themes discussed herein may be unsuitable for investors depending on their specific investment objectives and financial situation.
36 min - 119. Protecting Your Assets from a Real Estate Disaster
I’m Amanda Hanquist, the Fit Financial, are you into real estate or have you thought of getting into real estate? It can be a lucrative investment opportunity to add to your portfolio, but it’s also important to do your homework, especially when trusting tenants to live in your property that you could be liable for. Today on the podcast, we’re giving you a valuable checklist to consider so that you can be sure your wealth is protected when investing in real estate.
- The story of the wood river explosion
- How does insurance handle this claim
- Titling your real estate to create separation
- Creating Trusts for Protection
Wood River Explosion Video
Thank you for listening to The Fit Financial. If you liked this episode, please be sure to subscribe and leave a review. Find me on Instagram at the fit financial or if you’d like to know how you can work with us directly, Visit us at fitwealthadvisors.com
IG: Amanda @thefitfinancial_
IG: Shawn @shawnhanquist
The fit financial is brought to you by Fit wealth advisors. Fit Wealth Advisors is an investment adviser registered under the Investment Advisers Act of 1940. Registration as an investment adviser does not imply any level of skill or training. This presentation has been provided for informational purposes only and is not intended as legal or investment advice or a recommendation of any particular security or strategy. The investment strategy and themes discussed herein may be unsuitable for investors depending on their specific investment objectives and financial situation.
37 min - 117. Rewrite Your Money Story and Change Your Life (Feat. Clarita Escalante)
I’m Amanda Hanquist, the Fit Financial. On today’s episode I am sharing with you a podcast recording from my good friend Clarita Escalante. She interviewed me about how we as women can change our money story, it was so good I had to bring it over to our platform. In this episode we talk about emotional money triggers, creating consistency, what really is wealth and finally the steps you can take to start your money journey today, I hope you enjoy!
Entrepreneurs have a missing link with the education of money
- We can’t “meditate” or health coach our way to financial security
Amanda’s Story and path to The Fit Financial
- The coloration of health and wealth
- We can’t fight inner peace if we have this inward battle with finance
- My “mess becoming my message”- the grief process and trauma triggering poor relationship with money
- being a careless entrepreneur, to learning the financial principles
- The moment of courage to change
- Making a plan, Paying off the debt
- The entitlement mentality causing bad habits again
My Entire year of no personal shopping
- Uncovering triggers of what’s causing the “want”
- No amount of money will ever fill the void that needs to be filled
- Putting up guardrails- ex. Unfollowing influencers, unsubscribing from email lists and accountability for your goals
- The constant culture of newness, not enoughness and fast fashion and anxiety from over-consumption
What is wealth
- Wealth can sound unrelatable and intimidating- wealth has a different meaning for everyone, for me it means financial independence
- Similar to health and wellness, Consistency is key when it comes to generating long term wealth
Steps to Start your wealth journey, the financial order of operations
- Laying the foundation
- Deciding that you’re going to change, having the courage to say “today is the day”
- Lay it all out there- the point of understanding of where you’re at and what all you have
- Creating your goal – knowing how much money you need to make; do you need to budget and just get in check, or do you need to make more money?
- Emergency Savings- 3-6 months of bills in savings
- Tackle high interest debt-
- any interest in the double digits
- Avalanche or Snowball
- Qualified savings
- Do you need a Roth IRA or a traditional
- Entrepreneurs do we need to look at Solo 401k’s SEP IRA’s?
- Tax savings strategies
- Non-qualified savings
- Cash is king and we don’t want all of our money wrapped in red tape
- Other investment opportunities
- Future Dreams
- Paying for kids' education, second home, second vehicle, fun spending, more speculative investing, luxury items
- Paying off high debt
- Student loans or low interest long term mortgages
What impact do I want to make
- For women to experience the freedom that comes from a positive relationship with money
- Radical honesty and courage to start
Thank you for listening to The Fit Financial. If you liked this episode, please be sure to subscribe and leave a review. Find me on Instagram at the fit financial or if you’d like to know how you can work with us directly, Visit us at fitwealthadvisors.com
IG: Amanda @thefitfinancial_
IG: Clarita @the_clarita_escelante
The fit financial is brought to you by Fit wealth advisors. Fit Wealth Advisors is an investment adviser registered under the Investment Advisers Act of 1940. Registration as an investment adviser does not imply any level of skill or training. This presentation has been provided for informational purposes only and is not intended as legal or investment advice or a recommendation of any particular security or strategy. The investment strategy and themes discussed herein may be unsuitable for investors depending on their specific investment objectives and financial situation.
39 min - 118. Investing During an Election Year
I’m Amanda Hanquist, the Fit Financial, Election years tend to bring uncertainty and guess what, the markets don’t necessarily like uncertainty. Today on the podcast, we are bringing you insight on investing during an election year, should you, shouldn’t you, is there a pattern in the markets, what all do you need to know when it comes to investing during an election year, let’s get to it.
- Historical Relationship Between Elections and Markets
- How election outcomes can affect the market
- Staying the Course or move to cash
- Volatility Surrounding Elections
- Media embellishment and psychology around election time
Thank you for listening to The Fit Financial. If you liked this episode, please be sure to subscribe and leave a review. Find me on Instagram at the fit financial or if you’d like to know how you can work with us directly, Visit us at fitwealthadvisors.com
IG: Amanda @thefitfinancial_
IG: Shawn @shawnhanquist
The fit financial is brought to you by Fit wealth advisors. Fit Wealth Advisors is an investment adviser registered under the Investment Advisers Act of 1940. Registration as an investment adviser does not imply any level of skill or training. This presentation has been provided for informational purposes only and is not intended as legal or investment advice or a recommendation of any particular security or strategy. The investment strategy and themes discussed herein may be unsuitable for investors depending on their specific investment objectives and financial situation.
34 min - 116. What happens to your 401k when you leave a job?
I’m Amanda Hanquist, the Fit Financial, do you know what happens to your 401k after you leave a job? Do you keep it with your old employer, are you supposed to roll it over, if you do are their tax implications you need to know about...the whole thing can just sound overwhelming, so on today’s episode of the Fit Financial, we talking all about how the 401k works and what you need to know about that money when changing jobs.
- What is a 401(k) exactly and how does it work?
- What happens to your 401(k) when you change jobs?
- How long can you keep your 401k after leaving a job?
- Can I cash out my 401k from a previous employer?
- What should I do with my old 401k?
Thank you for listening to The Fit Financial. If you liked this episode, please be sure to subscribe and leave a review. Find me on Instagram at the fit financial or if you’d like to know how you can work with us directly, Visit us at fitwealthadvisors.com
IG: Amanda @thefitfinancial_
IG: Shawn @shawnhanquist
The fit financial is brought to you by Fit wealth advisors. Fit Wealth Advisors is an investment adviser registered under the Investment Advisers Act of 1940. Registration as an investment adviser does not imply any level of skill or training. This presentation has been provided for informational purposes only and is not intended as legal or investment advice or a recommendation of any particular security or strategy. The investment strategy and themes discussed herein may be unsuitable for investors depending on their specific investment objectives and financial situation.
41 min
About The Fit Wealth Show
From the publisher's feed
The Fit Wealth Show is for business owners who want to turn strong income into real, long-term wealth.
Hosted by Amanda and Shawn Hanquist CFP®, founders of Fit Wealth Advisors, this show goes beyond surface-level financial advice. Each episode breaks down how to structure your money, reduce taxes, and build a clear plan that supports the life you actually want to live.
We cover:
• Personal CFO strategies for business owners
• Proactive tax planning (not just tax prep)
• Investment strategy and long-term wealth building
• Cash flow systems for high-income households
• How to know if you’re truly on track for financial freedom
If you’re making $300K–$3M+ and want more than generic advice, this is where strategy meets execution.