In this episode of Wealthyist, host Tom Berkholtz interviews Khaleel Ali, Senior Education Savings Consultant at TIAA-CREF (the plan manager for Edvest, Wisconsin's 529 college savings plan). Khaleel shares his 16+ years in financial services and his six-year tenure with the Edvest program, which has been managed by TIAA-CREF since 2012 and boasts over $6 billion in assets (with recent figures showing $5.63 billion across 238,000+ accounts as of late 2024).

The discussion covers the basics of 529 plans: tax-advantaged accounts similar to retirement vehicles but dedicated to education expenses, with low entry (starting at $25) and triple tax benefits—tax-deferred growth, tax-free qualified withdrawals, and Wisconsin's generous state income tax deduction (up to $5,280 per beneficiary for 2026, with carryforward for excess contributions).

Key highlights include the plan's evolution through federal legislation (e.g., SECURE Acts), expanding uses beyond traditional college to K-12 tuition (up to $20,000/year in Wisconsin), apprenticeships, trade schools, student loan repayment (up to $10,000 lifetime), post-secondary credentials, and a major game-changer: rolling over up to $35,000 lifetime to the beneficiary's Roth IRA (after the account is 15 years old).

For affluent families, Khaleel emphasizes strategies like maximizing contributions beyond the state deduction (up to the annual gift tax exclusion of $19,000 per person or $38,000 for couples), front-loading five years' worth ($95,000) for time-value-of-money advantages, and dynasty-style planning by changing beneficiaries across generations. The maximum account balance for 2026 is $613,240 per beneficiary across Wisconsin plans.

Other topics include avoiding overfunding fears (thanks to rollover options), non-qualified withdrawal consequences (10% federal penalty + taxes on earnings), why even wealthy families benefit from the tax deferral over regular savings accounts, Edvest's strong reputation (consistent Morningstar awards, low fees, 25+ years of operation), flexible investment options (age-based, static, or custom), and easy access via the website (edvest.com) or customer service.

Tom shares a personal story of how his grandfather's Edvest account sparked his interest in finance, underscoring the plan's long-term impact. Khaleel encourages advisors and families to reach out for free consultations, highlighting Edvest's flexibility for anyone nationwide (though state tax perks are Wisconsin-specific).

The episode positions Edvest as a powerful, evolving tool in wealthy families' financial strategies—beyond just college savings, it's a versatile, tax-smart vehicle for generational education funding.

Guest: Jake Biernbaum, renowned horse trainer and founder of Pear Tree Ranch in Ocala, Florida. Known for his large YouTube following and expertise in natural horsemanship.

Key Points from the Episode:

1. Origin and Growth of Pear Tree Ranch
   • Founded in 2011 when Jake went independent after working with Parelli Natural Horsemanship. 
   • Started with almost nothing — living on ramen and PB&J, no truck or trailer. 
   • Grown into an international operation: clients fly in from Europe, South Africa, and across the US; offers in-person training, lessons, clinics, camps, and online video content (YouTube & Patreon). 
   • Now a family business run primarily by Jake and his wife Stephanie (also a skilled trainer); their 8-year-old son Johnny helps occasionally but isn’t pushed into the horse world.
2. Training Philosophy
   • Focuses on developing both horses and humans, emphasizing that horses are “honest” while humans often complicate things. 
   • Starts with the horse first to establish clear, reliable behavior, then teaches the owner to match that level. 
   • Goal: Make clients independent (“I want you to not need me anymore”) while offering ongoing education for those who want it. 
   • Motto: “Less crying and less dying” — safer, happier horses and riders.
3. Jake’s Background
   • Not a lifelong horse person — got into horses in his 20s after wilderness survival training (Tom Brown Jr.’s school), various odd jobs (bouncer, carpenter, daycare, etc.), and discovering Parelli Natural Horsemanship. 
   • Spent years working for Parelli (from ranch hand to touring arena manager and instructor) before going fully independent in 2017.
4. Business Strategy & Growth
   • Located in Ocala, “Horse Capital of the World,” for the density of horses, warm climate, and lifestyle (palm trees, beaches). 
   • Deliberately keeps the business small and family-run to avoid over-expansion risks; learned from past experiences with employees/interns leaving suddenly. 
   • Diversifies income through scalable online content (YouTube, Patreon) — “making money while sleeping” — rather than just trading hours for dollars. 
   • Offers various formats: private lessons, workshops, multi-day clinics/camps, and horse training programs.
5. Clients & Wealth Observations
   • Wide range: backyard hobbyists to Olympic-level competitors; some barely afford lessons, others spend hundreds of thousands on imported horses. 
   • Notes that true success with horses requires consistent work and discipline — money helps (better horses, more lessons), but doesn’t replace effort. 
   • Many wealthy clients are driven and hands-on because they built their own success the same way.
6. Work-Life Balance & Future Plans
   • Horses were once 24/7; now prioritizes family time, beach trips, and off-roading/camping in his customized Jeep to avoid burnout. 
   • Future: Expand reach through online education and brand exposure (e.g., coaching competitors for “Road to the Horse” colt-starting championship). 
   • Long-term legacy: Build the physical ranch into an asset that can be leased or handed to a dedicated successor; no pressure on son to take over.
7. Closing Wisdom: Five Stages Toward Mastery
   • Awareness → Understanding → Doing → Reproducing (consistent results) → Teaching 

Follow Jake & Pear Tree at https://www.patreon.com/peartreeranch  & https://www.youtube.com/@peartreeranch

In this episode of the Wealthiest podcast (hosted by Anthony Mlachnik, Senior Wealth Advisor at Annex Private Client), guest Chellee Siewert (President and Founder of Capture Sports & Entertainment) discusses how her firm helps professional athletes, entertainers, and organizations develop authentic philanthropic strategies.

Key highlights include:

• End-of-Year Giving Trends — About 30% of annual charitable donations occur in December, with examples like athletes hosting shopping events for kids, fulfilling both wants and needs (e.g., debate team ties for a high schooler).
• Building an Authentic "Why" — Capture guides clients to identify personal stories and passions, define 2-3 impact pillars, align philanthropy with their brand, and create realistic plans that fit busy lifestyles (from weekly involvement to a few annual events).
• Legacy Beyond the Game — Emphasis on defining identity outside of sports, building post-career legacies, and ensuring giving feels genuine and enjoyable.
• Heartwarming Stories — Touching anecdotes, such as Aaron Jones' "Yards for Shoes" campaign (donating shoes based on rushing yards, revealing a child's need for properly fitted new shoes), J.J. Watt events honoring veterans, and meaningful make-a-wish connections.
• Human Side of Athletes — Discussion of Vin Baker's recovery from addiction, losing over $100 million, and rebuilding his life, underscoring that athletes face public highs and lows like anyone else.
• Practical Structures and Benefits — Overview of giving vehicles: Donor-Advised Funds (DAFs) for tax-deductible donations, fiscal sponsorships (preferred for most clients due to compliance support), and private 501(c)(3)s. Insights on offsetting "jock taxes" (state taxes on games played away), donating appreciated stock to avoid capital gains, and leveraging league/team matching programs or awards.
• Team Support — Importance of a trusted core team (advisors, agents, accountants) to maximize impact, endorsements, and opportunities.

Chellee shares her own journey founding Capture 14 years ago to balance motherhood and entrepreneurship, starting with clients like J.J. Watt, and finding her "why" in amplifying athletes' ability to change lives. The conversation draws parallels between athletes/entertainers and busy executives in purposeful, tax-smart giving.

Host: Anthony Mlachnik (Senior Wealth Advisor, Annex Private Client)
Guest: Anna Franklin – Founder & Creative Director of Stonehouse Collective (Milwaukee/Wisconsin-based luxury interior design firm)

Anna’s Journey

• Grew up in small-town Wisconsin → studied Public Relations → moved to Chicago for event planning & major-gift fundraising (10 years).
• Met husband in Chicago, moved back to Wisconsin (Whitefish Bay, Milwaukee area) ~10 years ago to raise family (now 3 kids).
• After first child, rediscovered creative passion → accidentally fell into home staging → became “the stager of Milwaukee” → pivoted to full interior design during 2020/COVID.
• Not a formally trained designer; acts as creative director/entrepreneur.
• Grew Stonehouse Collective to 15 employees (5 full-time designers), opened first retail store in Shorewood in March 2023, and hit record revenue in 2025.

Key Themes & Insights on Wealthy Clients

1. Two Types of Clients Today
   • High-customization, unique, heirloom-quality (willing to pay $30k for a sofa).
   • Want the “look” but at the lowest possible price (tariffs & cost pressures pushing this segment).
2. Psychology of Spending
   • Wealth does not equal willingness to spend on furniture/design.
   • Some ultra-wealthy clients buy the $3k sofa because “they don’t care about furniture.”
   • Some middle/upper-middle clients will stretch or max out credit for fully U.S.-made, 40-hands-touched heirloom pieces because that is what they value.
   • It’s never about the dollar amount; it’s about personal values, legacy, memories, and emotional connection.
3. Trends by DemographicYounger / Millennial / Liquidity-Event Wealth
   • Full smart-home integration (Lutron, Sonos, automated showers, security, lighting scenes controlled by phone).
     Wellness spas at home: cold plunges, saunas, steam, red-light therapy — all ideally in one integrated wellness room.
     Hitting all five senses the moment they walk in (scent, sound, light temperature, etc.).
4. Boomers / 60s–70s
   • Surprisingly also adding wellness/spa elements (many now want saunas & cold plunges too).
   • Grandkid-focused spaces (arcade rooms, integrated TV/gaming areas with sleek motion furniture instead of old dedicated theaters).
   • Aging-in-place planning: wider doors, future elevator shafts, curbless showers.
   • Strong aversion to bold 90s-style patterns/color that millennials are embracing (“grand-millennial” trend).
5. Tech & Smart Homes
   • Almost everything is now phone-controlled; wall panels and whole-house distributed audio are largely out.
   • TVs hidden or pop-up, projectors still used, but giant TVs are cheap and ubiquitous.
   • Some boomers initially resist phone control but warm up once they see it in action.
6. Outdoor & Extended Living
   • Big focus on indoor-outdoor flow, pool houses with saunas, outbuildings (elevated “she-sheds,” homeschool barns, wellness barns).
   • Layered exterior lighting (down-lights, up-lights, feature lighting on stone/wood) is huge.
7. Emerging & Fun Requests
   • Flower rooms / cutting rooms (glass conservatory-style for arranging bouquets).
   • Dog washes still popular but no longer novel.
   • Lighting as “jewelry” of the house — heavy layering (picture lights, sconces, pin spots, etc.).
8. Social Media & Pinterest Effect
   • 97% of clients arrive with a Pinterest board or saved Instagram images.
   • Pros: helps clients communicate when they lack design vocabulary.
   • Cons: creates unrealistic expectations about cost, lead times, and customization (Amazon-effect).
   • Anna actively discourages excessive scrolling and digs deep (“You say you love this photo — is it the lamp or the feeling?”).

Closing Message from Anna

• Emphasizes timeless, classic design with layers of trend so homes don’t need gutting every 5–10 years.
• Stonehouse Collective retail store in Shorewood, Milwaukee is open to the public.
• Instagram: @stonehousecollectiveco

Overall, the episode highlights how deeply personal luxury design is — wealth buys options, but values and life stage dictate what people actually spend money on and how they want their home to feel.

Perfect episode for any entrepreneur who knows they’ll eventually sell but hasn’t yet faced the question: “What then?”

In this week’s Wealthiest episode, host Anthony Mlachnik sits down with Andy Oliver, a 30-year finance veteran, two-time business founder/exiter, and partner at Oak Hill Business Partners, a boutique consulting firm that helps lower-middle and middle-market owners dramatically increase enterprise value and prepare for a successful exit.

Key highlights and takeaways:

1. Andy’s Unusual Journey
   • Survived 9/11 (was half a block from the South Tower), which prompted him and his wife to leave NYC and return to Milwaukee. 
   • First exit: Co-created the first municipal-bond primary-market pricing system in the 1990s (sold to a UK firm). 
   • Second exit: Founded Gear Wash, a firefighter-gear cleaning/disinfection company born from post-9/11 safety research (sold in 2020 right as COVID began).
2. The Biggest Blind Spot for Business Owners
   • Most owners are great at building the business but terrible at building a personal post-exit plan (financial, lifestyle, purpose). 
   • More than 50% have never calculated how much capital they actually need to replace their salary with passive income or what they’ll do with their time after the sale.
3. What Actually Drives Enterprise Value & Exit Price
   • The business must be transferable: owner must decentralize themselves (strong COO/GM, documented SOPs, job descriptions, integrated data systems). 
   • Lack of these = heavy valuation discounts during due diligence. 
   • Clean, real-time data and KPIs are non-negotiable in today’s market.
4. Execution & Accountability
   • Traction/EOS praised as a simple, proven system to create cadence and accountability. 
   • Without disciplined execution, enterprise value stalls regardless of a great product.
5. Exit Planning Framework Andy Uses
   • Certified Exit Planning Advisor (CEPA) via the Exit Planning Institute. 
   • “Value Acceleration Methodology”: Start with a rough valuation → align personal + financial + business plans → de-risk and grow → decide whether to exit or keep growing.
6. Personal Advice from Andy
   • Start entrepreneurial ventures earlier if possible. 
   • Understand compounding: save and invest early, take calculated risks. 
   • Prioritize health (he works out 6 days a week) and social connections (he jokes about starting a “ROMEO Club” – Retired Old Men Eating Out – when he retires).

Equity Compensation – what it is, why companies use it, the main types, tax pitfalls, and planning tips.Why Companies Offer Equity CompensationPrimary goal: Attract, retain, and motivate top talent (especially in tech/AI race – Google, Apple, Nvidia, etc.).
Acts as “golden handcuffs” via vesting schedules (e.g., 25% per year over 4 years or a 3-year cliff).
Works for both public and private companies, but private-company equity is riskier (needs a liquidity event like IPO or buyout to have real value).

Main Types of Equity CompensationRestricted Stock Units (RSUs) – Most common & simplest  Company gives you actual shares (not an option to buy).  
Vest over 3–4 years → treated as ordinary income on vest date (shows up on W-2).  
Tax trap: Employers often withhold only 22% federal tax; high earners (37% bracket) can owe big at tax time + possible underpayment penalty.  
Conventional advice: “Sell immediately after vesting” (because you already paid tax at the vest price). Tom says not always best — if you believe in the company and it’s not too concentrated, holding some can make sense.

Non-Qualified Stock Options (NSOs/NQSOs)  Right (not obligation) to buy shares at a fixed “strike price” (usually within 10 years).  
When you exercise and sell, the bargain element (market price − strike price) is taxed as ordinary income.  
Company gets a tax deduction → why employers prefer NSOs over ISOs.

Incentive Stock Options (ISOs) – Less common now  Potential for long-term capital gains treatment if holding-period rules are met.  
Big catch: The bargain element is an AMT (Alternative Minimum Tax) preference item → can trigger AMT and create a huge surprise tax bill.  
2025 may be a sweet spot to exercise ISOs because current AMT exemptions are still high (TCJA rules); exemptions drop in 2026, so more people could get hit.

Performance Share Units (PSUs)  Payout (number of shares) depends on company performance over ~3 years (e.g., stock price, EBITDA targets).  
Aligns employee and shareholder incentives perfectly (Elon Musk–style packages are an extreme example).

Key Tax & Planning Takeaways RSUs and exercised NSOs = ordinary income (up to 37% federal + state).  
Under-withholding on RSUs is extremely common → fix by increasing paycheck withholding or making quarterly estimated payments.  
High earners: Consider donating appreciated vested shares (RSUs or exercised options) to charity or a Donor-Advised Fund instead of selling → avoid capital gains tax and get a deduction.  
End-of-year must-do’s for equity-comp recipients:  Project upcoming vest/exercise events.  
Strategically exercise NSOs or ISOs to fill lower tax brackets or stay under AMT.  
Harvest gains/losses, diversify concentrated positions (especially when market is at all-time highs).

Bottom line from Tom: Equity compensation is powerful but requires proactive, annual planning — it’s not a “set it and forget it” asset like a 401(k). Work with a financial planner and tax pro who can model the scenarios (especially AMT for ISOs) to avoid nasty surprises.

Core Theme: How a middle-class Wisconsin upbringing, strong family values, and an athlete’s mindset of consistent small improvements shaped Steve Novak’s approach to money, lifestyle, and giving back — and kept him far away from the “broke ex-athlete” stereotype.

Key Takeaways from the Conversation:

1. Grounded Upbringing as the Anchor
   • Grew up in Brown Deer, WI (middle/lower-middle class); dad was a teacher/coach, mom a nurse. 
   • Saw bigger houses and nicer cars as a kid → early motivation that real wealth required success without debt. 
   • Even after making NBA money, never felt the need for a mansion. Bought a normal house in Whitefish Bay (“looks like all the other houses”) and still lives a relatively modest lifestyle.
2. Financial Philosophy = Athletic Mindset
   • Translated his shooting training mantra (“get 0.1% better every day”) into investing. 
   • Very conservative investor: prioritizes steady compounding over home-run bets or crypto. 
   • Learned the hard way with a few bad private deals/restaurants → “losing money felt worse than winning felt good.” 
   • Focus: never move backward; small, consistent forward progress compounds over a 50+ year post-basketball timeline.
3. Lifestyle Choices
   • Played on 9 teams, lived in Houston, LA, NY, Toronto, etc. → realized Milwaukee/SE Wisconsin is one of the most underrated places to live and raise a family. 
   • Chose walkable, community-oriented neighborhoods (Whitefish Bay) over sprawling estates. 
   • Family now owns two homes in Wisconsin (North Shore + Lake Country) instead of the typical athlete Florida/Arizona second home — “Wisconsin summers are the best in the world.”
4. Giving Back & Full-Circle Moment
   • Dad coached generations of kids → Steve now runs shooting clinics all over SE Wisconsin, passing on the “aha” moments he had after thousands of hours in the gym. 
   • Wants the next generation to say, “Steve taught me footwork and motivated me.”
5. NBA Financial Realities & Lessons
   • Rookie paycheck shock, royalty checks with no withholding, surprise tax bills when income jumps, jock taxes, escrow, etc. 
   • NBA’s unusually generous 401(k) match (up to 150%) and bridge annuities show the league/NBPA actively try to protect players. 
   • Mandatory financial-literacy meetings ($10k fine if you skip) — education is there, but players still have to act on it.
6. Current Life
   • Just hired as Walt “Clyde” Frazier’s backup Knicks broadcaster (full-circle: New York was where he played his best ball). 
   • Still lives in Milwaukee; kids cheer for both the Bucks and Knicks.

Bottom Line (in Steve’s words):
“Don’t try to hit home runs. Just keep the money you worked hard for moving 0.1% in the right direction every day, make it last a long time, and don’t end up on a ‘broke’ documentary.”

A refreshingly grounded, Midwestern take on wealth from someone who’s seen both the NBA flash and the long-term reality — and consciously chose the latter.

In this episode of Wealthyist, host Brian Lamborne (Senior Wealth Strategist at Wealth Management) welcomes Nick Kozik, Director and Shareholder at TKO Miller, a Milwaukee-based boutique investment banking firm specializing in sell-side transactions for family-owned businesses (typically $15M–$250M enterprise value). The discussion dives into the current M&A landscape, strategies for business owners eyeing an exit, and pitfalls to avoid when selling.

Key Highlights

1. TKO Miller's Focus and Nick's Role
   • TKO Miller helps family-founder businesses navigate sales, emphasizing education and "bedside manner" for first-time sellers. 
   • Nick leads transaction teams (4–5 people per deal) in sectors like industrial/infrastructure services, plastics/packaging, consumer goods, food & beverage, and tech-enabled services. 
   • The firm marks its 10th anniversary in 2026.
2. Current M&A Market Dynamics
   • Bifurcated Landscape: High demand for recession-resistant service businesses (e.g., HVAC, healthcare, recurring maintenance), trading at peak valuations (10–12x EBITDA) due to abundant private equity capital chasing limited deals. 
   • Challenges: Tariff-exposed manufacturing/distribution or consumer-discretionary sectors face lower interest and multiples, though deals still close. 
   • Advice: Sell now if in a hot sector; wait if trade-impacted. Personal timelines (e.g., health, retirement) often trump market conditions—consult experts for tailored assessments.
3. Buyer Types Explained
   • Private Equity (PE): Pools of capital for majority buyouts (leveraged, using debt); focused on growth, not just cost-cutting. They prioritize services over risky sectors, paying premiums for "safe" deals. 
   • Strategic Buyers: Operating companies seeking synergies (e.g., one chemical firm buying another); more cautious in uncertain times. 
   • Quasi-Strategics: PE-backed portfolio companies doing add-ons for operational alignment. 
   • ESOPs (Employee Stock Ownership Plans): Ideal for owners prioritizing employee ownership and business continuity; involves seller financing and tax perks, but yields lower upfront proceeds than PE/strategic sales.
4. Planning for a Successful Sale
   • Timeline: Start 1–5 years out for max value—focus on management succession (e.g., 18–24 month transition team) and data readiness (accurate reporting to handle buyer requests). 
   • Define Goals: Clarify priorities like max proceeds, growth partnership, or legacy preservation to shape the process. 
   • Build Your Team:
     Role
     Why Essential
     Timing
     Internal Management | Runs the business post-sale; needs ops leader, finance expert, and sales rep. | Ongoing
     Transaction Attorney | Handles deal terms to avoid clawbacks. | 6–12 months pre-sale
     Accountant/Quality of Earnings | Tax planning, financial audits tailored for transactions. | 1–2 years pre-sale
     Wealth Manager | Post-sale lifestyle/investment strategy. | 1–2 years pre-sale
     Investment Banker | Runs competitive process for $10M+ deals to maximize value/options. | 1+ year pre-sale
5. Valuation Insights
   • Private businesses are hard to value without market testing—multiples vary wildly by sector (e.g., HVAC at 10–12x vs. metal fabrication at 5x). 
   • Free initial assessments from firms like TKO Miller reveal true worth via broad auctions, avoiding guesses that skew net worth planning.
6. Common Mistakes to Avoid
   • Selling to the first buyer without alternatives (erodes leverage, invites "chipping away" on terms). 
   • Fire sales due to unpreparedness (no team/data = higher risk, lower price). 
   • Dropping performance during the 7–9 month process (e.g., growth stalls = deal death).

Closing Thoughts
Lambourne and Kozik emphasize proactive planning over reactive exits, noting that even in a volatile market, the right process unlocks life-changing value. Kozik offers free consultations for owners curious about their business's worth. 

In this empowering episode of Wealthyist—the podcast exploring the lifestyles, choices, and strategies of the affluent—host Deanne Phillips (a CFP and bodybuilding enthusiast) interviews Dr. Tes Jordens. Dr. Jordens, founder of 1988 Wellness (named for the year U.S. women gained independent access to small business loans), shares insights on midlife women's health, debunking myths around menopause, hormone replacement therapy (HRT), and obesity. The conversation ties into "wealthyist" trends, emphasizing proactive, private-pay investments in vitality as foundational to financial success and confidence.

Key Discussion Themes

1. Menopause Realities and Patient Journeys  
   • Menopause symptoms (fatigue, weight gain, sleep disruption, hot flashes) often start in the 30s-40s but peak in the 40s-50s, exacerbated by estrogen decline, which spikes cardiovascular risk ~10 years later than in men.  
   • Typical patients: Frustrated women dismissed by primary care as "anxious" or "normal," seeking holistic answers. Host shares her thyroid struggles and early menopause at 46, leading to 45-pound gain and life crisis.  
   • Shift from "disease care" to prevention: Women increasingly seek to "capture that 30s-40s feeling" before decline, rejecting it as a "rite of passage."
2. HRT Myths, Benefits, and Options  
   • Debunks 2002 Women's Health Initiative (WHI) fallout: Media sensationalism linked HRT to cancer/strokes, but flaws (e.g., average participant age 63, not perimenopausal) caused mass hysteria. Science now shows HRT (estradiol, progesterone, testosterone) is safe and protective when started within 10 years of menopause or before 60.  
   • Benefits: Reduces dementia/osteoporosis risk (only proven preventive for bones), supports heart health, boosts energy for workouts/career. Can continue indefinitely unless major contraindications (e.g., active breast/endometrial cancer, recent stroke).  
   • Delivery methods: Tailored to needs—pills (liver-processed for brain protection), patches/gels/sprays, pellets (host switched due to glute workouts displacing them), vaginal creams for UTIs/frequency in 70s-80s.  
   • Advice: Persist beyond dismissive docs; seek certified specialists. No "magic pill," but HRT sparks virtuous cycles (e.g., energy for strength training).
3. Obesity and "Menopause Belly" Strategies  
   • Visceral fat (around organs) drives inflammation, insulin resistance, diabetes/heart risks—not just aesthetic.  
   • Tools: GLP-1 meds (e.g., Ozempic) as aids, not cures; combine with protein/fiber-rich nutrition, movement. Focus on building strength for 70s-80s independence, not restriction/diet culture.  
   • Trifecta approach: HRT + meds + habits (e.g., trainers, dietitians) for sustainable results. Host credits HRT for reigniting her bodybuilding passion at 60.
4. Wealthyist Trends in Self-Pay Health  
   • Affluent women prioritize out-of-pocket empowerment: Comprehensive blood panels (e.g., ferritin, CRP for inflammation/hemochromatosis), DEXA scans (~$100-300, gold standard for bone/muscle/fat composition—insurance covers only post-65, too late).  
   • Lifestyle shifts: Strength training (future-proofing against frailty), creatine (debunking "gym bro" stigma; aids muscle, cognition), peptides/collagen for skin/energy.  
   • Mindset: Health as wealth foundation—invest like education/wardrobes. Bucket finances for "personal care" (HRT ~$50-200/month) to sustain vitality post-retirement. Women unafraid to hire experts, rejecting "suffer silently."

Closing Takeaways
Dr. Jordens urges midlife women: Don't quit seeking help; it's not "just aging." For parents in their 70s-80s, consider vaginal estrogen for UTI prevention. Host, prepping for a 60-year-old bodybuilding comp, embodies the episode's vibe: Midlife is for thriving, not surviving. Reach Dr. Jordens at 1988wellness.com or @drtesjordens on socials.  

This ~45-minute chat blends vulnerability, science, and aspiration—perfect for wealthy women redefining aging as an asset. Tune in for motivation to audit your health plan today!

Estate planning is uncomfortable (addresses incapacity and death) but essential; integrate it naturally into life/financial discussions for comprehensive planning.

Key Checklist of Must-Have Documents & Designations

1. Powers of Attorney (POA):
   • Financial & Healthcare POAs: Needed at age 18 (even for adult children, e.g., college prep). Parents lose decision rights post-18 without them.
2. Will:
   • Names executor; directs asset distribution at death.
   • Critical for parents: Only place to name guardians for minor children.
   • Works with trusts; "pour-over" will funnels forgotten assets into trust.
3. Revocable Trust:
   • Manages assets during life & at death; avoids probate.
   • Becomes irrevocable at death (can't change).
   • Complements (not replaces) a will.
4. Irrevocable Trusts (Lifetime):
   • For gifting assets (to spouse/kids) to reduce estate taxes.
   • Removes assets + future appreciation from estate.
   • Estate Tax Context: 2026 exemption rises to ~$15M/person ($30M/couple). Plan flexibly for future law changes; project asset growth vs. inflation/spending.
5. Other Documents (state-specific):
   • Living will/advance directive (end-of-life wishes).
   • Funeral arrangements.
6. Beneficiary Designations:
   • Override wills/trusts (e.g., IRAs, 401(k)s, life insurance).
   • Common Mistake: Outdated designations (e.g., ex-spouse or parent instead of kids) cause assets to go wrong.

Review & Update Best Practices

• Frequency: Every 3–5 years; or trigger by:
  • Life events (marriage, divorce, birth, death).
  • Law changes (e.g., recent tax bills).
• Pet Peeves/Common Errors:
  • Mismatched beneficiaries vs. will/trust.
  • Outdated successors (e.g., naming parents/siblings when kids are now adults; shift to children as agents/trustees).

Communication, Storage & Execution

• Sharing with Family: Family-specific; no one-size-fits-all.
  • Some share full details/drafts (à la Warren Buffett) for transparency.
  • Others share structure only (flow of assets, roles, advisors) without dollar amounts.
  • Ensure heirs know document locations, attorney, advisors.
• Successor Roles: Choose capable people; consider corporate trustee (fees apply, but justified for complex dynamics).
• Advisor Support: Professionals guide grieving families; nobody navigates alone.

Probate: Not as Bad as Feared

• Process: File will with court; appoint executor; notify creditors; resolve claims.
• Pros: Structured (good for family disputes/disharmony); time-bound creditor claims.
• Cons: Time/cost, but avoidable via revocable trusts.
• Goal: Avoid if possible, but not catastrophic.

Closing: Estate planning ensures control, minimizes regrets/taxes, and eases transitions. Review regularly; coordinate with financial plans.