Work Your Wealth Podcast

WHAT DO I REALLY NEED TO KNOW ABOUT RETIREMENT PLANNING?

This week I sat down with fellow financial planner and CFP®, Jude Boudreaux.

Jude is a Partner with The Planning Center. Previously he founded Upperline Financial Planning in 2010, and has been involved in the planning industry for 17 years. His personal mission is to help others live their lives on purpose. He lives in New Orleans with his patient and understanding wife Karen and kids Lucy and Charlie.

HERE'S WHAT YOU'LL LEARN FROM THIS EPISODE:

• The biggest misconception people have when it comes to thinking about their retirement
• What financial independence has to do with retirement and the choices you make for you future
• How you can begin thinking about and envisioning your retirement
• Why it's important to have a next phase
• The changes you can make today when you start reflecting on your future and how the choices on the margin will impact how successful you are in reaching your goals
• How to plan around your money past, money present and money future
• Why it's important to have financial mentors and what informational interviews can do for you
• The power of story in effecting change in your life
• How often retirement goes exactly how you imagine and plan and what a good outcome looks like
• Why it's important to try on experiences before committing
• Whether you should have a specific age to focus on for retirement
• What family health and longevity has to do with your retirement plan
• Whether of not you should count on Social Security

LINKS WE MENTIONED ON THE SHOW:

• The Planning Center
• George Kinder's 3 Questions
• Chip and Dan Heath

One of the fun parts of being a financial planner is getting to field and answer questions from clients and readers all around the country. In these Work Your Wealth episodes I'll be taking time to address and answer questions I've come across from readers and clients throughout my career. On today's episode, I welcomed back my favorite guest to help me answer some of of your money questions. Today Brian Storjohann (yep, my hubby) and I are diving in to tell you about how we handle and address my business (and the finances behind it) in our marriage.

We recorded this episode live from the FinCon booth at Podcast Movement, which means I actually let him sit next to me for this conversation! (Progress!!)

WHAT YOU'LL LEARN FROM THIS EPISODE:

• How much of the numbers I share (and you should share) around your business finances with your spouse
• How your business finances relate to and are intertwined with personal finances and goals
• Ways to address the unease that can come with sharing business finances
• How to structure conversations so there is no finger pointing or guilt around business success or hiccups
• Why planning for your personal finances plays a big role in the success of your business
• How we set income goals for the business(both individually and as a couple)
• The dollar limit of business purchases that I share with Brian
• How to plan in advance of business launches and investments to reduce stress
• Why it is super important to share with your spouse when there are excess funds in the business
• How sharing business numbers helps your spouse to better support you
• How often we review numbers and how formal the conversation is
• Expectations around how long it took for us to communicate effectively around our finances

LINKS MENTIONED ON THE SHOW:

• Episode 30: Our Money Story (the Good, the Bad & the Funny)
• Episode 27: How We Handle Money in Our Household
• Schedule a free 30-minute consultation with me
• Work Your Wealth: 9 Steps to Making Smarter Choices With Your Money
• 9 Steps to Workable Wealth

• This week I sat down with Business Strategist, Natalie Eckdahl.

  Natalie Eckdahl is a Business Strategist and High Performance Coach who helps high-achieving women entrepreneurs across industries and time zones build, grow and scale their business while avoiding overwhelm.

  She's the Founder of the BizChix Community and Podcast, and has been recognized as "One of the Top Women in Business to Listen to." She has also been featured in Inc, Fast Company, Huffington Post and Entrepreneur.

  Natalie brings a multidisciplinary perspective to her work. She draws from her MBA education, 20+ years of work experience, deep intuition, and over 200 podcast interviews with industry influencers to help her clients with customized strategy and coaching to reach 6 figure+ in PROFITS.

  HERE'S WHAT YOU'LL LEARN FROM THIS EPISODE:

  • Why PROFIT should be the focus of your business and not revenue.
  • Unique ways to refocus and stay invested in your bottom line.
  • Why you should set goals for what your net income will specifically go towards funding.
  • Traits and characteristics of six-figure earning women.
  • Why it's import to have a safe space to talk about real numbers.
  • What vanity metrics are and how they can prevent you from truly celebrating wins.
  • Whether or not you should go into debt to launch your business.
  • Why a business start up and operating budget are imperative to have in place before launching your business.
  • How to structure your plan to get out of debt.
  • Whether you need a network of people on the same level as you.
  • Why it's important to build your own credit.

  LINKS WE MENTIONED ON THE SHOW:

  • BIzChix.com
  • The Get Paid Podcast
  • Natalie's BizChix Live Event

In today's episode I'm recapping a recent blog post I wrote giving you the pep talk you may need around your money. If you're in need of a loving (and brief) kick-in-the-pants around your finances, this is for you!

LINKS MENTIONED ON THE SHOW:

• Schedule a free 30-minute consultation with me
• Work Your Wealth: 9 Steps to Making Smarter Choices With Your Money
• 9 Steps to Workable Wealth

ARE THERE WAYS TO PROTECT THE WEALTH I AM BUILDING?

This week I sat down with property & casualty insurance professional, Parker Cox.

Parker is head of sales and marketing for KM Insurance Services, an independent insurance agency that has been serving San Diego for nearly 40 years. He's passionate about insurance, not because of a masochistic appreciation of legal jargon, but because it gives him an opportunity to help families, business owners and people protect all the things they work so hard to build.

HERE'S WHAT YOU'LL LEARN FROM THIS EPISODE:

• What property & casualty insurance is and why you shouldn't ignore it
• What to consider when you're locking in your auto insurance coverage
• The number of people who are underinsured or uninsured with auto coverage and how it could impact you
• Questions to ask when evaluating if you can afford to not have certain coverage
• Whether it's smart to shave a small growth percentage of wealth to protect yourself from a catastrophic loss
• Whether you should pay premiums annually versus monthly
• What to consider when selecting coverage for your personal property & liability under renters insurance
• Recommendations for how to document and record the personal items you have in your home
• What special form coverage is and how it impacts youas a home owner
• Considerations when determining how much coverage you actually need for dwelling, personal property, personal liability and living expenses

LINKS WE MENTIONED ON THE SHOW:

• KM Insurance Services Website

HOW DO I KNOW WHAT RETIREMENT ACCOUNTS ARE AVAILABLE TO ME AND WHICH ONE(S) SHOULD I TAKE ADVANTAGE OF?

One of the fun parts of being a financial planner is getting to field and answer questions from clients and readers all around the country. In these Work Your Wealth episodes I'll be taking time to address and answer questions I've come across from readers and clients throughout my career. Today I'm answering the above question.

WHAT YOU'LL LEARN FROM THIS EPISODE:

• Investing vs. Retirement Accounts - why they're not the same
• The difference between a Traditional vs. a Roth IRA
• When you're qualified (or not) to contribute to a Traditional vs. a Roth IRA
• Considerations for contributions to Traditional vs. Roth IRAs and 401(k)s
• How your 401(k) works
• What the 403(b), Thrift Savings Plan and 457 plan have in common with your 401(k)
• What to do if your employer offers a match on your 401(k)
• Retirement plans available to Entrepreneurs: Solo 401(k), SEP IRA, SIMPLE IRA
• What the age limit is on withdrawals from retirement accounts
• How taxes work on withdrawals from your retirement accounts
• If you should take a loan from your 401(k)
• 401(k) vs. Roth IRA - which one is best for you?

LINKS MENTIONED ON THE SHOW:

• Schedule a free 30-minute consultation with me
• Work Your Wealth: 9 Steps to Making Smarter Choices With Your Money
• 9 Steps to Workable Wealth

This week I sat down with Self-Leadership coach, Amanda Flisher.

As a Self-Leadership Coach, Amanda works with individuals to dig deeper, move past learned beliefs and values, and to uncover their own unique value system. She guides them through making better choices, better goals, and ultimately having more satisfaction in their achievements.

Amanda holds an Associate Certified Coach certificate through the International Coach Federation, is a trained Strengths Educator through the Gallup organization and is college professor. Amanda has over 8 years of experience coaching and training thousands of individuals to learn what it takes to redefine their achievement and take the lead in their own life. She began her private practice in 2014 after several years of working in the Leadership Development and Behavioral Health fields.

HERE'S WHAT YOU'LL LEARN FROM THIS EPISODE:

• What it means and looks like to be a leader in your own life
• How waiting for permission may be holding you back
• Signs that you're not leading yourself
• How spinning, ruminating and ignoring your calling can impact you
• Who you're likely looking to for permission in your own life and how to shift your thought process
• How to pick apart the stories that you tell yourself
• Steps to take when starting to live as the leader of your life
• Why thinking about "what could go right?" can help you take the next right step.
• How to find out your inherent strengths and leverage them to live your best life.

LINKS WE MENTIONED ON THE SHOW:

• Brené Brown
• Strengths Development
• Strengths Finder Test
• Amanda's Website

SHOULD I BUILD A NETWORK TO ENHANCE MY CAREER?

This week I sat down with CPA, financial influencer and networker extraordinaire, Philip "PT" Taylor.

Philip is a CPA, husband and father of three. He created PTMoney.com back in 2007, and he founded FinCon, the annual marketing conference for financial influencers and professionals, in 2011. He got rid of debt, learned to live lean, saved his money, and eventually left his unsatisfying corporate career to pursue his entrepreneurial ventures full-time.

HERE'S WHAT YOU'LL LEARN FROM THIS EPISODE:

• The simple things you can do to take control of your finances.
• What permission and intentionality have in common.
• How learning and talking shop can contribute to building your network.
• Why joining forces instead of competition can enhance your professional life.
• Strategies and steps to take when connecting and form relationships with people of interest to you.
• Lesson's PT learned by surrounding himself with a diverse and financially savvy group.
• How to filter out the noise and determine which advice is best for you.
• Why knowing your goals is the most important step in stopping the comparison game with others.
• The growing and diminishing role frugality can play in your personal financial journey.

LINKS WE MENTIONED ON THE SHOW:

• PT Money (Philip's website)
• FINCON
• Jim Wang
• Consumerism Commentary
• Budgets are Sexy
• Radical Personal Finance
• DoughRoller
• XY Planning Network
• Rockstar Finance
• The Automatic Millionaire by David Bach

This week I sat down with millennial money expert and author, Erin Lowry.

Erin Lowry is a millennial personal finance expert and the founder of BrokeMillennial.com. She's also the author of "BROKE MILLENNIAL: Stop Scraping by and Get Your Financial Life Together." Lowry has contributed to Forbes, Business Insider, New York Magazine's The Cut and U.S. News & World Report. Some of her insights have been featured by outlets including: CNBC, Fox & Friends, CBS Sunday Morning, USA Today, Wall Street Journal, Newsweek and Marketplace Money. Lowry lives in New York City with her spunky rescue dog Mosby.

HERE'S WHAT YOU'LL LEARN FROM THIS EPISODE:

• Why your money story doesn't always have to be from "rags to riches"
• Questions to ask to confirm you have a gold star in personal finance
• What backwards planning is when it comes to your money
• Some of the roadblocks Millennials are facing when it comes to their finances and how to overcome them.
• Considerations for starting today instead of delaying for the future and how compound interest works in your favor.
• How your parents and family have influenced your thoughts and beliefs around money.
• How social media has helped in aiding conversations about money.
• Whether Millennials are scared of the stock market and where the real issues are.

LINKS WE MENTIONED ON THE SHOW:

• Erin's Website Broke Millennial
• BROKE MILLENNIAL: Stop Scraping by and Get Your Financial Life Together
• Work Your Wealth Episode 5: From Smart Mom to Rich Mom with Kimberly Palmer

This week I sat down with award winning podcaster, Joe Saul-Sehy.

Joe Saul-Sehy is the creator and co-host of the award winning Stacking Benjamins podcast. Kiplinger magazine called Stacking Benjamins the best personal finance podcast of 2016. The Academy of Podcasters has nominated Stacking Benjamins for their Best Business Podcast award, to be given out later this year. Joe was a financial advisor for 16 years and is the proud dad of 21 year old twins.

Here's WHAT YOU'LL LEARN FROM THIS EPISODE:

• The traits and characteristics that the most financially successful people you have or embody.
• Whether the people who are mostfinancially successful are also the happiest.
• What brings happiness when it comes to money.
• The really smart moves you should be taking with your finances.
• How to think creatively about your financial issues.
• How to automate your money.
• Money scripts and how they impact you.
• What you can outsource and how it can impact you.
• The stupid things people do with their money.

LINKS WE MENTIONED ON THE SHOW:

• Stacking Benjamins: Creativity, Collaboration & Innovation with Don Hahn
• Stacking Benjamins: Side Hustles, Getting Things Done & Creativity with Austin Kleon
• Joe's email