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The first two quarters of 2022 were horrible in the stock market. The third quarter started well, but the last three-and-a-half weeks have not been great. One of my partners at Fortress Planning Group wrote an article about inflation, the Fed, and the midterm elections. In this episode of Best in Wealth, I am going to highlight some of Brian’s key points. My end goal is to encourage you to remain hopeful about the economy. [bctt tweet="In this episode of Best in Wealth, I share 8 reasons to stay positive about the stock market. Check it out! #wealth #retirement #investing #PersonalFinance #FinancialPlanning #RetirementPlanning #WealthManagement" username=""] Outline of This Episode [1:10] The positive impact of routines [2:45] Inflation, the Fed, and midterm elections [7:40] 8 reasons to have a positive outlook [10:17] The impact of midterm elections on the stock market [12:49] Discipline is the key to successful investing Inflation, the Fed, and midterm elections On August 26th, Jerome Powell to

What should your net worth be? Where do you compare to the average investor? As a listener of this podcast, I think you are an above-average person. So what should your net worth be if you are above-average? In this episode of Best in Wealth, I share seven traits that make you an above-average person. Then I will share what the net worth of an above-average person might look like. Do nit miss this episode! [bctt tweet="What should your net worth be? Where do you compare to the average investor? Learn more in this episode of Best in Wealth! #wealth #retirement #investing #PersonalFinance #FinancialPlanning #RetirementPlanning #WealthManagement" username=""] Outline of This Episode [1:07] Do you compare yourself to others? [3:50] The average net worth in America based on your age [6:11] The traits that make you an above-average person [12:34] The net worth of an above-average person The average net worth in America based on age According to the latest Federal Reserve Consumer Financial Survey, the av

Are you in a place to help your kids, siblings, or friends? What if you want to help your parents financially? How do you give money to loved ones? This is when things get dicey. This is not an easy subject to think about. But you will likely face it at some point during your life. So in this episode of Best in Wealth, I cover four things you NEED to consider before giving money to loved ones. [bctt tweet="In this episode of Best in Wealth, I share 4 things you need to consider before you give money to loved ones. Don’t miss it! #wealth #retirement #investing #PersonalFinance #FinancialPlanning #RetirementPlanning #WealthManagement" username=""] Outline of This Episode [1:01] How do you want to be remembered? [3:02] How to give money to your loved ones [4:22] Question #1: Does your financial plan allow you to give? [5:59] Question #2: What is the money for? [7:28] Question #3: Is there another alternative? [9:57] Question #4: How can you set boundaries? [13:53] The money conversation is never

Have you heard of George Kinder? He is a well-known life planning expert. When it comes to retirement planning, it is not all about the money. The hard part is figuring out what is important. George has come up with three big questions that I want everyone to think about. Each of the questions is tough to answer. It will take meditation, prayer, time alone, and conversations with your loved one(s) to answer these questions. Do not miss this deep and introspective episode of Best in Wealth! [bctt tweet="In this episode of Best in Wealth, I’ll share George Kinder’s 3 BIG questions and how they’ll impact your life! #wealth #retirement #investing #PersonalFinance #FinancialPlanning #RetirementPlanning #WealthManagement" username=""] Outline of This Episode [1:07] You never know where life will take you [2:55] Three big questions to ponder about your future [6:31] Question #1: What would you do if you could do anything? [9:44] Question #2: What would you do if you were given an end date? [12:48] Quest

The book “Your Money or Your Life” by Vicki Robin was the book that is credited with launching the FIRE Movement. FIRE stands for “Financial Independence, Retire Early.” The FIRE Movement has exploded and become popular among Millennials. So what is the FIRE Movement? In this episode of Best in Wealth, I will share the three non-negotiable rules and three variations of the FIRE Movement. Do not miss it! [bctt tweet="What is the FIRE Movement retirement strategy? Learn all about it in this episode of Best in Wealth! #wealth #retirement #investing #EarlyRetirement #RetireEarly #FinancialPlanning #RetirementPlanning #WealthManagement #FIREMovement" username=""] Outline of This Episode [1:01] Best in Wealth reaches 200 episodes! [3:38] What is the FIRE Movement? [10:35] The variations of the FIRE Movement [15:03] The three non-negotiables of the FIRE Movement [18:22] Do you want to become part of the FIRE Movement? What is the FIRE Movement? FIRE is the retirement movement that takes aim at conventio

The 6 Traits that Make You a Smart Person, Ep #199 What are the 6 traits that make you a smart person? Why is it important to exhibit these traits? “Smart” used to mean having access to information or memorizing endless facts and figures. That is an outdated belief. I believe that smart, ambitious, and hard-working people focus on soft skills. In this episode of Best in Wealth, I will share the 6 traits I think define a smart person. [bctt tweet="What 6 traits do I believe you need to master to be “smart?” Find out in this episode of Best in Wealth! #wealth #retirement #investing #PersonalFinance #FinancialPlanning #RetirementPlanning #WealthManagement" username=""] Outline of This Episode [1:10] Surround yourself with smart people [2:58] What does it mean to be smart? [5:48] Trait #1: The ability to read the room [8:25] Trait #2: Fast decision-making [10:59] Trait #3: Learn to save time [14:35] Trait #4: The power of self-awareness [16:22] Trait #5: Personal responsibility [18:15] Trait #6

As most of you know, inflation is high—higher than expected. Things do not look good in the news. Things do not look good in our portfolios either. As humans, when we feel like we are losing, we get the urge to sell our investments, sit on the cash, and wait on the sidelines for the news cycle to get better. It is natural and normal to feel nervous. The thought of selling everything likely crosses everyone’s mind. In 2020, the market dropped 37%. When it was down around 20%, one of my clients sold everything and went into cash. They said there was no way the market was going to recover. But no one tells you when to get back in. No one knows when to get back in. So what does it cost you? I did some research and tried to answer that very question in this episode of Best in Wealth. [bctt tweet="Trying to time the market? Find out what that could cost you in this episode of Best in Wealth! #wealth #retirement #investing #PersonalFinance #FinancialPlanning #RetirementPlanning #WealthManagement" username=""] Outl

We are set to have one of the worst weeks in the stock market in a long time. The stock market was down over 20% the day this podcast was recorded—in bear market territory. We cannot control the market, no matter how much we would like to. But something that we can control—to some extent—is tax-loss harvesting. What is it? How can it help you avoid paying excess taxes? Learn what you need to know in this episode of Best in Wealth. NOTE: I am not a CPA and this is not formal tax advice but purely informational. Please contact a CPA or reach out to Fortress Planning Group for professional advice. [bctt tweet="What is tax-loss harvesting? Learn the basics in this episode of Best in Wealth! #wealth #retirement #investing #PersonalFinance #FinancialPlanning #RetirementPlanning #WealthManagement #Taxes" username=""] Outline of This Episode [1:11] Can you boycott financial news for 30 days? [4:28] So just what is tax-loss harvesting? [8:03] Two ways tax-loss harvesting helps manage taxes [11:40] Two kinds

Has recency bias affected your investment decisions, now or in the past? The Schwab BeFi 2021 study found that recency bias is the most common behavior that advisors believe impacts clients’ decision-making. 78% of Millennials, 75% of the Silent Generation, 74% of Gen X, and 56% of Baby Boomers suffer from it. But what is recency bias? Why does it matter? What can you do about it so it does not ruin your retirement? On May 20th, 2022, we hit bear market territory—a 20% drop from the S&P 500’s high. It has a lot of people concerned. But should it? In this episode of the Best in Wealth podcast, I cover what recency bias is and how to keep it from derailing your retirement. [bctt tweet="Recency bias can destroy your retirement if you let it. Learn how to keep that from happening in this episode of Best in Wealth! #wealth #retirement #investing #PersonalFinance #FinancialPlanning #RetirementPlanning #WealthManagement #Bias #RecencyBias" username=""] Outline of This Episode [1:45] Being a Milwaulkee Bucks

What is an I bond? How do you buy an I bond? What are the risks? Are there risks? Who should buy I bonds? I bonds are a hot topic in the news because of the staggering high interest rates. So in this episode of Best in Wealth, I will answer these questions. I will help you decide if you are the right person to buy I bonds. Listen to learn more! [bctt tweet="Are I bonds a good investment? Should you buy some? Listen to this episode of Best in Wealth to hear my thoughts! #wealth #retirement #investing #PersonalFinance #FinancialPlanning #RetirementPlanning #WealthManagement #Ibonds" username=""] Outline of This Episode [1:13] Control what you CAN control [6:23] What is an I bond? [10:40] How to buy an I bond [13:17] The risks of buying I bonds [19:00] Who should buy an I bond [21:17] What are the alternatives? What is an I Bond? “I bonds” is just another name for Series I savings bonds. The interest rate on Series I bonds is indexed to inflation. The rate changes every six months based on the pre

Replacing an automobile is an inevitable and recurring life event. Many of my clients struggle with the question—buy or lease? If you buy, should you buy new or used? What would Dave Ramsey say? He does not want you to borrow money, lease a car, or even buy a new car. Do not get me wrong, I love being able to pay cash for a car. But I have been in situations where I have been presented with 0% or 0.9% financing. I went to a dealership with cash and was told if I got a loan—even for 3 months—I would get a percentage off the car. The bottom line is that the preferences and needs of each individual must be considered along with the overall costs. Many competing factors bear differing degrees of importance. Fortress Planning Group has a flowchart to cover the key things to consider: cost, cashflow, mileage, safety, technology, depreciation, and flexibility. In this episode of Best in Wealth, I want to help you identify the best course of action for you. Let’s walk through the questions you need to consider to

As a family steward, it is not only important to teach your kids how to invest—but that investing is not a game. With the surge of meme stocks that have gained cult-like popularity, it is easy to get caught up in the rat race. But buying one-off stocks is not the role of a family steward. So what does good investing look like? What should family stewards avoid when it comes to investing? Listen to this episode of Best in Wealth to hear my thoughts! [bctt tweet="Investing is NOT a game—so why are people investing in meme stocks? Learn how to teach your kids that they must invest carefully in this episode of Best in Wealth. #wealth #retirement #investing #PersonalFinance #FinancialPlanning #RetirementPlanning #WealthManagement" username=""] Outline of This Episode [1:08] Being a family steward is hard [4:58] The popularity of meme stocks [10:40] Why individuals cannot beat the average ROR? [15:32] What good investing looks like [18:28] Your job as a family steward The rise of meme stocks Have you h

We are all used to traditional retirement—save money and fully retire when you hit retirement age. But did you know that there are two other types of retirement? The other two types may even have a better impact on your mental health and sense of purpose in your retirement years. In a black and white world, multiple answers do not exist. But sometimes there is more than one right answer. In this episode of the Best in Wealth podcast, I will share the three types of retirement and help you think through which one is right for YOU. [bctt tweet="Did you know there are 3 types of retirements? Learn which path is right for you in this episode of Best in Wealth! #wealth #retirement #investing #PersonalFinance #FinancialPlanning #RetirementPlanning #WealthManagement" username=""] Outline of This Episode [1:15] Can you live in the gray instead of black and white? [3:48] How retirement impacts your sense of purpose [9:22] The three different types of retirement you can consider [17:42] Plan your finances acc

I read an article in Barron's entitled, “Retirees Aren’t Spending Enough of Their Nest Eggs. Here’s Why.” Why are people not spending enough? Should retirees be spending more? How do you figure out how much you can spend? In this episode of Best in Wealth, I talk about sequence of return risk, the Bengen Rule, and how you can live your best life in retirement—by spending more. [bctt tweet="Retirees: You might be able to spend MORE in retirement. Learn how in this episode of the Best in Wealth Podcast! #wealth #retirement #investing #PersonalFinance #FinancialPlanning #RetirementPlanning #WealthManagement" username=""] Outline of This Episode [1:26] Making financial decisions in the context of your life [5:32] You probably will not spend enough in retirement [8:34] Understanding the sequence of return risk [12:48] What happens when you follow the Bengen Rule [16:48] How to live your best life in retirement [23:23] Why everything comes down to planning You probably will not spend enough in retire

Russia began its invasion of Ukraine on February 24th, 2022. Not surprisingly, the stock market did not respond well to the news. Investors sold off considerably in the morning’s open. But things began to stabilize when no one expected it to. On day three of the conflict, the S&P 500 was up almost 3%. Why did that happen? It’s not clear what the end game of the conflict is—it is just getting started. One thing is for certain: the market doesn’t like uncertainty. On Thursday, there was considerable angst among investors. Many investors—in an attempt to time the market—moved into less risky investments than stocks. Is that a wise move? To determine the best exit and re-entry points, my colleague looked at the market six months prior to the invasion and 18 months after in five of the most recent wars. When was the best time to get back in? Find out in this episode of Best in Wealth! [bctt tweet="How will the Russia-Ukraine crisis impact your investments? I share my educated opinion in this episode of the

I routinely talk about why you need a new routine in retirement, that you cannot just wing it. Retirement gives you time to accomplish everything you have wanted to do that you have never had the time to do. Retirement can be fulfilling and full of purpose. I have always referred to what you want to accomplish in retirement as your bucket list. In this episode of Best in Wealth, I talk about why I am reframing the way I talk about retirement—and you should, too. [bctt tweet="In this episode of Best in Wealth, I share why you need to reframe the way you think about retirement. Check it out! #wealth #retirement #investing #PersonalFinance #FinancialPlanning #RetirementPlanning #WealthManagement" username=""] Outline of This Episode [1:11] Have you ever really challenged yourself? [4:28] James Kerr: Why My Retirement Won’t Include a ‘Bucket List’ Have you ever really challenged yourself? I went scuba-diving on my honeymoon. I had one lesson from a guy who spoke three words of English and we went straight

I am a huge Packers fan. The Packers recently hosted the 49ers in a playoff game they were expected to win. They had the home-field advantage and key players who had been hurt were returning. Even better, the Packers had beat the 49ers earlier in the season. Analysts and Vegas odds gave the Packers the edge. All of the information available pointed to a Packers’ victory. But they lost. We did not have future knowledge of what was going to happen during the game. The Packers were awful offensively. That is the thing with predictions. Everyone has predictions about everything, including the stock market. But all you have is the information that is available today. So what does that say about future market predictions? I share my thoughts in this episode of Best in Wealth. [bctt tweet="Where is the stock market heading in 2022? I share my thoughts on market predictions in this episode of Best in Wealth! #wealth #retirement #investing #PersonalFinance #FinancialPlanning #RetirementPlanning #WealthManagement" us

Think back to the beginning of 2021. Do you remember what was happening? Do you remember how you were feeling? The odds are that you would not remember because of recency bias. Recency bias means that you are more likely to remember things that happened in the immediate past. You might have made some predictions at the beginning of 2021, right? But no one thought the S&P 500 would go up over 25%. Did you? So in this episode of Best in Wealth, I will share why your best plan of action is to remain optimistic. [bctt tweet="Why does it pay to be optimistic about the stock market? Hear my thoughts in this episode of Best in Wealth! #wealth #retirement #investing #PersonalFinance #FinancialPlanning #RetirementPlanning #WealthManagement #Optimism #Optimist" username=""] Outline of This Episode [1:11] Predictions about 2021 were likely far off [4:30] Why you should be optimistic about the market The economy has us worried—how can we be optimistic? An article by MarketWatch, “U.S. Consumer Sentiment Falls

We all understand what goals are and at least intuitively, we know that they are a good thing. As has been famously said, “If you aim at nothing, you are sure to hit it.” And we all know as well that regrets are no fun. I have a few regarding my educational pursuits in the past and I wish I could change them. But I cannot because the past is past. All I can do is aim toward better things in the future. In other words, set goals and strive to achieve them. But have you ever considered that you can put the power of goals to work in your family as well? As a family steward, you have both the opportunity and the responsibility to empower your family to live above the regrets by aiming higher. This episode explains what a family goal session is, how you can pull it off, and how it benefits everyone in your family. [bctt tweet="Listen to learn how family #goal sessions can move your #family to the next level! It’s on the #BestInWealth podcast! #investing #PersonalFinance" username=""] Outline of This Episode [

This last year, when the COVID lockdowns happened, I took advantage of the space in my schedule to get started on a physical fitness routine, and I tell you, I made some great progress. It was a decision that benefited me in multiple ways and made me feel better overall. But once the pandemic restrictions lessened, I slacked on my new habit. It was a choice I made, but it was fueled by a handful of lies that I was telling myself, things like, “I do not have the time anymore” or “It is not that important.” The reality is that my fitness routine was one of the best things I was doing for my health and overall productivity and success. I did not come to this realization until I took time to reflect on the past year. When I did, it all came into focus and I found an area in my life where I can make a change that improves my life going forward. Taking the time to reflect is powerful. This episode is aimed at giving you the tools you need to use the power of reflection in beneficial ways in your life. [bctt tweet