Work Your Wealth Podcast

John Eing is a partner and financial advisor at Abacus Wealth Partners. As a financial advisor, John is passionate about simplifying and demystifying finances for his clients, and creating sound financial strategies allowing them to do what they love most. He is also a member of the firm's M&A team and investment committee. Prior to joining Abacus, John was the Controller of Wells Fargo's $30B asset-based lending group. He holds an Executive MBA from the Anderson School of Management at UCLA, a BA in Economics from UC Berkeley, is a Certified Public Accountant, and a CERTIFIED FINANCIAL PLANNER™.

In his free time, John and his wife, Andrea, enjoy spending time with their two children Nathan (8) and Mia (4). In his free, free time John is an avid fan of the Los Angeles Lakers.

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

• How Abacus Wealth Partners is focusing on diversity, equity and inclusion
• Why you should do everything that makes you feel uncomfortable in business
• The difference between diversity and inclusion
• The path that led John to financial planning and Abacus Wealth Partners
• How to provide a space to openly discuss diversity, equity and inclusion in the work environment
• The benefits seen at Abacus with the cultural lunch and learns
• Diversity gaps in the financial industry
• How understanding your client's cultural background can make you a better advisor
• A hurdle for financial education across different nationalities
• How to turn the diversity, equity and inclusion conversation into action
• Why personal finance must be taught in schools
• What progress might look like when expanding diversity in the financial industry

LINKS WE MENTIONED ON THE SHOW:

• Economic vs Financial Planning Education Survey
• Save More Tomorrow by Shlomo Benartzi
• The Digital Nervous System by Bill Gates

GET SOCIAL WITH JOHN AND LET HIM KNOW YOU HEARD ABOUT HIM HERE

• Website
• Email
• Instagram
• LinkedIn
• Twitter
• Facebook

Are You Better or Worse off Financially In 2020?

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.

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

• Why the end of the year is my favorite time of year for clients
• Questions I consistently receive as the year is closing out
• A way to gauge if you are better or worse off financially this year
• First step in measuring your financial progress
• The measurement to use when evaluating your financial health
• How to calculate your net worth
• A good way to evaluate your debt situation for the year
• The check you should be doing on your debt every January
• Why you should review your spending throughout the year
• How your savings goals play into your financial health
• Different savings vehicles you can utilize to grow your net worth
• A few things you should consider when talking about your retirement savings
• The role a change in income can play in figuring out if you're financially better off this year
• How "lifestyle creep" could potentially hurt your financial health
• Why employer benefits must be evaluated each year

LINKS WE MENTIONED ON THE SHOW

• Abacus Wealth Partners
• Mary Beth

LET'S CONNECT!

• Facebook
• Twitter
• Instagram

Ariel Ward, CFP® joined Workable Wealth in 2018 as a Financial Planner and in March of 2019, made the move to Abacus Wealth Partners with me as a Financial Planner. She and I work closely together on our clients. She has 11 years of experience in the field of personal financial services and in helping clients develop financial clarity. She is passionate about helping professionals understand their financial lives and make better decisions with their money. She enjoys working with clients in the aviation industry to make the most of their employee benefits and map out a plan for personal financial strength. She is a member of NAPFA, the XY Planning Network and the Financial Planners Association.

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

• The most common financial concern seen with entrepreneurs
• The retirement plan options available to small business owners
• Items to be aware of if utilizing a SEP IRA
• Some of the numbers associated with an individual 401(k)
• The best plan to start with if you have employees
• How much you should be saving into your retirement account
• The type of insurance a small business owner should consider
• How a disability policy works and why you need it
• If you're thinking group policy, here are some options as a small business owner
• Why you should have life insurance and who you are protecting
• The type of life insurance policy you should get
• What a keyman insurance policy will do for your business
• Reasons you should have a business continuity plan
• The two big ticket items we see people and business owners drag their feet on
• Why you should have professional liability insurance
• The benefits of utilizing a financial planner through all these decisions

LINKS WE MENTIONED ON THE SHOW

• Freelancers Union
• Workable Wealth Blog post

GET SOCIAL WITH ARIEL AND LET HER KNOW YOU HEARD ABOUT HER HERE

• Workable Wealth Website
• Ariel's e-mail
• Instagram

Naseema is the founder of Financially Intentional, a platform about personal finance and living life intentionally. She discusses how taking control of her finances has enabled her to overcome bankruptcy, divorce, and break the cycle of living paycheck to paycheck. She shares her lessons along her path to help others benefit from the freedoms of financial independence.

Outside of encouraging people to get their financial act together, Naseema is a mother and Labor and Delivery Nurse. Though making six figures for years, she struggled with money. Finally realizing she couldn't out-earn her financial ignorance, she knew she had to make some changes. By shifting her mindset around money, being consistent and intentional, She has paid off $1 million in debt and grew a six-figure net worth in three years without living in deprivation.

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

• How Naseema made a move from nursing to a finance
• The misconception many people have about finances
• Where to start in order to move your finances in the right direction
• Steps to set yourself up for financial success
• How Nassema paid off $1,000,000 in debt
• The asset she sold to push her back on track financially
• Steps you can take to improve your financial life
• The flexibility Naseema was able to create by getting her finances in order
• How to keep yourself committed to your financial goals
• What it looks like to anti-budget
• How to keep your financial life in balance
• The importance of building a good team around you to continue to drive your passion
• How to make legacy building second nature in your life
• The benefit of having a financial planner as an accountability partner

LINKS WE MENTIONED ON THE SHOW:

• Student Loan Planning Podcast Episode

GET SOCIAL WITH NASEEMA AND LET HER KNOW YOU HEARD ABOUT HER HERE

• Naseema's Website
• Naseema's e-mail
• LinkedIn
• Twitter
• Instagram (Financially Intentional)
• Instagram (Nurses on Fire Podcast)
• Facebook (Financially Intentional)
• Facebook (Nurses on Fire Podcast)
• Pinterest
• TikTok

Ariel Ward, CFP® joined Workable Wealth in 2018 as a Financial Planner and in March of 2019, made the move to Abacus Wealth Partners with me as a Financial Planner. She and I work closely together on our clients. She has 11 years of experience in the field of personal financial services and in helping clients develop financial clarity. She is passionate about helping professionals understand their financial lives and make better decisions with their money. She enjoys working with clients in the aviation industry to make the most of their employee benefits and map out a plan for personal financial strength. She is a member of NAPFA, the XY Planning Network and the Financial Planners Association.

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

• Options to save after you've maxed out your 401k
• 401k limits for singles and married couples
• The definition of a backdoor Roth IRA and some considerations around it
• Income limitations for Roth IRA
• What you should have set up before doing a backdoor Roth IRA
• Why you should work with a financial planner if interested in the backdoor Roth
• Tax considerations when utilizing the backdoor Roth IRA
• When to begin contributing to a 529 Plan and how much
• What to look for when investing in a taxable account
• What capital gains taxes will look like based on income and time
• How to take advantage of a Health Savings Account (HSA)
• Some ages to keep in mind if you are utilizing an HSA
• How you should prioritize your savings goals

GET SOCIAL WITH ARIEL AND LET HER KNOW YOU HEARD ABOUT HER HERE

• Workable Wealth Website
• Ariel's e-mail
• Instagram

As both a tax attorney and CERTIFIED FINANCIAL PLANNER™, Brian provides comprehensive financial planning to LGBTQ entrepreneurs who run mission-driven businesses. Entrepreneurs hold a special place in his heart. He spent a decade defending them against the IRS as a tax attorney and has become one himself as an advisor.

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

• How Brian evolved from a tax attorney into a CFP™
• Navigating unique financial needs for the LGBTQ community
• The impact of marriage on a couples' finances
• Estate planning challenges for domestic partnerships
• The financial paperwork that should be in place for every couple
• How to navigate different mindsets around money
• Financial planning tools for future family members
• What it means to run a mission-driven business
• How to mitigate "shiny object syndrome"
• Where to begin if you want to create change in the world
• The best way to measure your passion around an issue
• How to leverage your unique expertise to make an impact

LINKS WE MENTIONED ON THE SHOW:

• Brian Thompson's Forbes page
• George Kinder Process
• Klontz Money Script Inventory

GET SOCIAL WITH BRIAN AND LET HIM KNOW YOU HEARD ABOUT HIM HERE

• Brian's Website
• Brian's e-mail
• LinkedIn
• Twitter
• Instagram

A sought-after clinician, consultant, speaker, and writer, Dr. Joy Lere is a psychologist who practices at the intersection of behavior and business, specializing in work on the merger of money, mind, and meaning. Her signature work fuses Freud, Frankl, and the world of finance. She partners with bright, impact-driven, motivated professionals motivated to develop richer, more resonant lives. With one foot firmly planted in the field of psychology and the other waltzing down Wall Street, she works as a behavioral finance consultant for the financial services industry. She has previously served as an Associate Clinical Professor of Clinical Psychology at George Washington University and has held clinical and research positions at Children's National Medical Center, Penn Medicine Princeton Health, and the Department of Defense.

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

• How Joy got into the world of finance
• How people are handling their financial lives in the current state of the world
• Why it makes sense to continue self-care during the pandemic
• What self-care actually means (and looks like)
• The reasons being a perfectionist could be harming you
• Why giving yourself grace could alter in your life
• How social media is hurting you
• Ways to navigate the roller coaster of up and down days
• Questions to ask yourself during this time to move you forward
• How to simultaneously practice empathy and self-care
• Why it's important to take time for yourself (even when it seems as if there is no time)

LINKS WE MENTIONED ON THE SHOW:

• Spilling the Secrets of the Shelter-in-Place Joneses

GET SOCIAL WITH JOY AND LET HER KNOW YOU HEARD ABOUT HER HERE

• Joy's Website
• Joy's e-mail
• LinkedIn
• Twitter
• Instagram

One of the fun parts of being a financial planner is getting to discuss some of the money moves we've made in our household knowing clients and readers are going through similar things. In these Work Your Wealth episodes I'll be taking time to address how we approached the different money situations and the results of our decisions. Today I'm talking about what has happened since the merger with Abacus Wealth Partners, what Workable Wealth looks like now, how we've been getting through the pandemic and changes I've made to align my career with my values.

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

• An update on where things are for Workable Wealth
• Why it's okay to pivot, even during a pandemic
• Career details about my merger into Abacus Wealth Partners and how things are going
• What prompted me to pivot and merge with Abacus Wealth Partners
• What I recognized about my business and career to expand the value I was providing
• Things we built after the transition
• What Workable Wealth has turned into after the merger
• What it looks like to make broader changes in the financial industry
• The decision that was made to align my career with my values
• How I felt I could make a bigger impact with clients and in the industry

LINKS WE MENTIONED ON THE SHOW:

• Episode 88: Business Transitions as an Entrepreneur: How We Decided to Merge Workable Wealth

LET'S CONNECT!

• Facebook
• Twitter
• Instagram

Summer is here and with all that is going on in the world I have decided to take a break from the podcast. The podcast will continue though! We will be back in the fall to provide you with some more great content, some amazing guests and additional tips on how you can continue to work your wealth!

Until then, continue to go back listen to the over 100 episodes we've logged so far and reach out if you're looking for a financial planner than can help you with your money questions.

ENJOY THE SHOW?

• Don't miss an episode, subscribe via iTunes, Stitcher, Spotify or Google Play.
• Leave us a review in iTunes.
• Have a money question you want me to answer? Submit one here.

This week I sat down again with Beth Greulich, CFP® to talk through how to financially plan for your kids to go to college and some tricks along the way.

Beth is a Certified Financial Planner™, Certified Divorce Financial Analyst, and Partner at Abacus. After a career in market research, she took some time off to raise a family. As she considered what to do next, she was driven by the memory of her grandmother and her desire to help others who lacked confidence with their money management skills.

As a financial advisor, she works closely with her clients, many of whom are women, to develop a unique and personalized financial plan that solves their specific needs. It's extremely important to her that each of her clients clearly understand and can visualize the different paths/options that lead them to their financial independence. There are many forks in the road of life, so it's important and extremely empowering to understand the long-term impact of each decision along the way.

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

• The main concern people have around funding education for their children
• The first step in planning for college for your kids
• When to start exploring college campuses
• The importance of exploring college interests early
• The best time to open a 529 plan
• What it looks like to set up a 529 plan before your child is born
• Where a college fund should rank on your financial priorities
• What should be funded before the college savings account
• Considerations when thinking about college financial aid
• The most important things for kids to keep in mind while in college
• When to speak to your kid about financial aid available for college
• How subsidized and unsubsidized loans can come into play
• The amount of loan a student can take before having a cosigner
• How to help your children feel empowered when making college decisions
• Shop around and negotiate! Here's how
• How to financially plan for college if you're unsure if you child will even attend
• What to do if you have a surplus in your 529 plan

GET SOCIAL WITH BETH AND LET HER KNOW YOU HEARD ABOUT HER HERE

• Abacus Website
• Beth's e-mail
• Abacus Facebook
• Abacus Twitter
• Abacus LinkedIn