Wealth from Wisdom

Nearly everyone has heard of the pop singer Prince. Purple Rain, When Doves Cry, 1999 – these were songs straight from the Pizza Hut jukebox. 

Prince died suddenly in the spring of 2016 – and he didn’t have an estate plan in place. He was relatively young at 57-years-old and had been quite wealthy for a long time. 

Of his $250 million estate, $100 million of it went to estate taxes. 40% of his fortune gone! The rest of the estate was distributed to the siblings he had relationships with, but also distributed to estranged siblings he probably wouldn’t have included. 

On this episode of Wealth from Wisdom, we’re going to talk through estate planning – how to shape your legacy while you’re still living and take care of those you love the most. 

In 1992, the divorce rate in the U.S. was about 4.8 per 1,000 marriages. In 2019, it’s at 2.9 per 1,000. That’s still one in every three couples. But just because it’s common doesn’t mean it’s simple. 

There are many laws, emotional issues and financial planning questions specific to divorce that everyone must answer. 

On this episode of Wealth From Wisdom, we’ll look at some of the key financial planning decisions surrounding divorce. While no one likes going through a divorce, understanding how to best approach this difficult time is incredibly important. 

Risk in financial planning is a common topic. Are you a conservative or growth-centric investor? Stocks or bonds? What are the Federal Interest Rates doing? But there are plenty of other risks in retirement outside of investments. 

From tax efficiency to long-term care insurance, dealing with unexpected health concerns, the death of a loved one, or needing to supplement your retirement income – you need to be prepared. 

In this episode of Wealth From Wisdom, Paul West and Erin Wood discuss the retirement risks outside of your investment portfolio, and how you can set yourself up to not only meet your retirement income needs, but also to protect yourself, your family and your legacy. 

The 401(k) is the most popular retirement vehicle (outside of Social Security, of course) – and the number of 401(k) millionaires is at an all-time high. But a million dollars might not be enough for today’s retirement standards. 

How can you take your 401(k) to the next level and not only strive to reach that million-dollar mark – but actually meet your retirement needs?

In this week’s episode of Wealth From Wisdom, Paul West and Scott Kubie discuss 401(k)s – and the four rules you can follow to help successfully save for retirement. 

You’re a business owner. You had a dream and with your own two hands made it into a reality. People depend on you – to support the economy, create jobs, to keep vital gears of society turning. 

Your own financial needs can sometimes drift to the back-burner. Taking care of others’ livelihoods can draw you away from planning for your own. And your needs are unique — you signed paychecks instead of receiving them, you structured benefit plans rather than simply benefitting. 

On this episode of Wealth From Wisdom, we’re going to discuss financial planning for small business owners.

Is the longest bull market in history starting to unravel? Learn what could help shield your investments from a turbulent stock market on this episode of Wealth From Wisdom.

The last thing you need is a big, unexpected expense when you’re retired. Learn what overlooked expenses could blindside you in retirement on Wealth From Wisdom.

If you Google “investing for retirement” you’ll get 211 MILLION results. There are 211 MILLION different articles, blogs, and videos about investing for retirement. And there are probably 211 MILLION DIFFERENT OPINIONS about what you should, and shouldn’t do. Unfortunately, much of this advice is dated, misleading, or just flat out wrong. We bust the most common myths about planning and investing for retirement on this episode of Wealth From Wisdom.

In our 100th episode, Paul West is joined by Ron Carson to look back at the last two years and gauge what the future may hold.