Why do so many of us get nervous when public speaking? Communication expert Lawrence Bernstein says the key to dealing with the pressure is as simple as having a casual chat. He introduces the "coffee shop test" as a way to help you overcome nerves, connect with your audience and deliver a message that truly resonates. After the talk, Modupe explains a similar approach in academia called the "Grandma test," and how public speaking can be as simple as a conversation with grandma. Want to help shape TED’s shows going forward? Fill out our survey ! Become a TED Member today at https://ted.com/join Learn more about TED Next at ted.com/futureyou Hosted on Acast. See acast.com/privacy for more information.…
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Вміст надано Genesis Wealth Planning. Весь вміст подкастів, включаючи епізоди, графіку та описи подкастів, завантажується та надається безпосередньо компанією Genesis Wealth Planning або його партнером по платформі подкастів. Якщо ви вважаєте, що хтось використовує ваш захищений авторським правом твір без вашого дозволу, ви можете виконати процедуру, описану тут https://uk.player.fm/legal.
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Financial Fortitude
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Вміст надано Genesis Wealth Planning. Весь вміст подкастів, включаючи епізоди, графіку та описи подкастів, завантажується та надається безпосередньо компанією Genesis Wealth Planning або його партнером по платформі подкастів. Якщо ви вважаєте, що хтось використовує ваш захищений авторським правом твір без вашого дозволу, ви можете виконати процедуру, описану тут https://uk.player.fm/legal.
Financial Fortitude is a podcast for high-income earning professionals facing complex financial issues/challenges such as: - How to pay off MASSIVE student loan debt as quickly as possible? - Where should I be saving today so I can retire early? - When can I retire and how much do I “need” to have saved? - I’m ready to sell my business, what should I be doing? Hosted by experienced financial advisors and CFP®s, Michael Acosta and Brady Hemmerle. This show goes beyond stale and generic strategies to provide in-depth advice about high-income earning professionals’ unique situations. Each episode delves into critical financial topics, helping you enhance your knowledge, strengthen your financial fortitude, and guide you toward becoming an Extraordinary Wealth Builder (#EWB).
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Вміст надано Genesis Wealth Planning. Весь вміст подкастів, включаючи епізоди, графіку та описи подкастів, завантажується та надається безпосередньо компанією Genesis Wealth Planning або його партнером по платформі подкастів. Якщо ви вважаєте, що хтось використовує ваш захищений авторським правом твір без вашого дозволу, ви можете виконати процедуру, описану тут https://uk.player.fm/legal.
Financial Fortitude is a podcast for high-income earning professionals facing complex financial issues/challenges such as: - How to pay off MASSIVE student loan debt as quickly as possible? - Where should I be saving today so I can retire early? - When can I retire and how much do I “need” to have saved? - I’m ready to sell my business, what should I be doing? Hosted by experienced financial advisors and CFP®s, Michael Acosta and Brady Hemmerle. This show goes beyond stale and generic strategies to provide in-depth advice about high-income earning professionals’ unique situations. Each episode delves into critical financial topics, helping you enhance your knowledge, strengthen your financial fortitude, and guide you toward becoming an Extraordinary Wealth Builder (#EWB).
…
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Michael and Brady confront a challenge many retirees face but few openly talk about: when peace of mind outweighs the numbers on a spreadsheet. Is your aging car a financial liability or an emotional burden? Should you stretch your budget for a reliable vehicle, even if the math says “wait”? Together, Michael and Brady unpack the emotional crossroads where safety, lifestyle, and financial planning collide. You'll hear real client scenarios, practical tools to evaluate your options, and why a sound income plan gives you the freedom to say “yes” to what truly matters—even when the numbers don’t line up perfectly. Whether you’re retired, approaching retirement, or simply value peace of mind over perfect math, this episode will reshape the way you think about big-ticket decisions. Key Timestamps: (00:00) - Purpose-driven decisions and emotional bias (07:00) - Collecting key data before making a purchase (10:00) - Defining what you want in your next car (12:00) - Financing options and the role of interest rates (14:00) - The importance of flexibility in retirement income plans (17:00) - Balancing emotional comfort with financial impact (20:00) - How a solid income plan supports confident decisions Key Topics Discussed: Financial Fortitude, Genesis Wealth Planning, Brady Hemmerle, Michael Acosta, Financial Wellness, Wealth Building, Financial Psychology, Financial Advisor, Finance Coach, Student Loan Debt, Finance Guidance for High Earners, Business Owner Finances, Hiring a Financial Advisor, Student Loan Forgiveness, Tax Strategies, Retirement Planning, Investing Strategies, The Dave Ramsey Show, BiggerPockets Podcast, The Motley Fool Money Show, We Study Billionaires, ChooseFI, Afford Anything, buying a car in retirement, new car on fixed income, should I buy a new car, retirement car buying guide, car purchase decision making, financial planning for retirees Mentions: Website: https://www.genesiswealthplanning.com/ Michael’s LinkedIn: https://www.linkedin.com/in/michaelracosta/ Brady’s LinkedIn: https://www.linkedin.com/in/brady-hemmerle-cfp%C2%AE-75043013a/ Financial Health Checkup: https://www.livingbalancesheet.com/lbsVision/lite/michaelracosta This podcast is for informational purposes only and is not to be construed as tax, legal, or investment advice. Although the information has been gathered from sources believed to be reliable, please note that individual situations can vary. Therefore, the information should be relied upon only when coordinated with individual professional advice. Guest speakers and their firms are not affiliated with or endorsed by PAS, Guardian, or Genesis Wealth Planning and opinions stated are their own. Guardian, its subsidiaries, agents, and employees do not provide tax, legal, or accounting advice. Consult your tax, legal, or accounting professional regarding your individual situation. All investments and investment strategies contain risk and may lose value. Michael Acosta is a Registered Representative and Financial Advisor of Park Avenue Securities LLC (PAS). OSJ: 6115 PARK SOUTH DRIVE, SUITE 200, CHARLOTTE NC, 28210, 704-5528507. Securities products and advisory services offered through PAS, member FINRA, SIPC. Financial Representative of The Guardian Life Insurance Company of America® (Guardian), New York, NY. PAS is a wholly owned subsidiary of Guardian. Genesis Wealth Planning is not an affiliate or subsidiary of PAS or Guardian. CA Insurance License # 0M50974. 7237198.1. Expiration 7-27.…
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Financial Fortitude
Michael and Brady dig deep into a paradox affecting a generation: Millennials and Gen Z are planning their finances more than ever, yet still feel financially stuck. If you’ve ever felt like you’re checking all the boxes—budgeting, saving, investing—but still can’t shake the feeling of falling behind, this episode is for you. It’s not just about numbers—it’s about perspective, purpose, and progress. This isn’t your parents’ financial playbook, and that’s exactly why you need a new approach. Key Takeaways: • Why do younger Americans feel financially behind despite taking more proactive steps with their money? • How have rising costs, shifting responsibilities, and social comparisons reshaped what financial success looks like today? • What mindset and planning strategies can help Millennials and Gen Z find clarity, reduce stress, and build lasting financial momentum? Key Timestamps: (00:00) - Gen Z and Millennials: DIY financial planning trends (05:00) - Major stressors: housing, student loans, and rising costs (10:00) - Behavioral finance and anxiety-driven decision-making (13:00) - Wage growth vs. cost of living: the uphill financial battle (16:00) - Retirement savings shift: from pensions to 401(k)s (19:00) - Rethinking the “standard” financial script (22:00) - How to set goals that actually fit your life (24:00) - The role of liquidity and flexibility in your financial plan (27:00) - Why working with a coach or advisor makes a difference (33:00) - Climbing the financial mountain: accumulation vs. decumulation Key Topics Discussed: Financial Fortitude, Genesis Wealth Planning, Brady Hemmerle, Michael Acosta, Financial Wellness, Wealth Building, Financial Psychology, Financial Advisor, Finance Coach, Student Loan Debt, Finance Guidance for High Earners, Business Owner Finances, Hiring a Financial Advisor, Student Loan Forgiveness, Tax Strategies, Retirement Planning, Investing Strategies, Stock Market Crashes, Millennial Financial Planning, Gen Z Money Struggles, Overcoming Financial Stress, Building Financial Confidence, Modern Financial Goals Strategy Mentions: Website: https://www.genesiswealthplanning.com/ Michael’s LinkedIn: https://www.linkedin.com/in/michaelracosta/ Brady’s LinkedIn: https://www.linkedin.com/in/brady-hemmerle-cfp%C2%AE-75043013a/ Financial Health Checkup: https://www.livingbalancesheet.com/lbsVision/lite/michaelracosta This podcast is for informational purposes only and is not to be construed as tax, legal, or investment advice. Although the information has been gathered from sources believed to be reliable, please note that individual situations can vary. Therefore, the information should be relied upon only when coordinated with individual professional advice. Guest speakers and their firms are not affiliated with or endorsed by PAS, Guardian, or Genesis Wealth Planning and opinions stated are their own. Guardian, its subsidiaries, agents, and employees do not provide tax, legal, or accounting advice. Consult your tax, legal, or accounting professional regarding your individual situation. All investments and investment strategies contain risk and may lose value. Michael Acosta is a Registered Representative and Financial Advisor of Park Avenue Securities LLC (PAS). OSJ: 6115 PARK SOUTH DRIVE, SUITE 200, CHARLOTTE NC, 28210, 704-5528507. Securities products and advisory services offered through PAS, member FINRA, SIPC. Financial Representative of The Guardian Life Insurance Company of America® (Guardian), New York, NY. PAS is a wholly owned subsidiary of Guardian. Genesis Wealth Planning is not an affiliate or subsidiary of PAS or Guardian. CA Insurance License # 0M50974. 7237198.9. Expiration 6-27.…
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Financial Fortitude
Are your Restricted Stock Units (RSUs) helping you build wealth—or holding you back? Michael and Brady break down one of the most misunderstood components of a high-income professional’s compensation package: RSUs. From tax implications and diversification strategies to avoiding lifestyle creep and planning with purpose, this episode gives you the tools to turn stock awards into long-term financial security. Whether you're new to RSUs or looking to sharpen your strategy, you’ll walk away with actionable insights to level up your wealth-building game. This episode is a must-listen for anyone receiving equity compensation and wanting to build extraordinary wealth with clarity and confidence. Key Takeaways: • How can professionals strategically manage RSUs to align with their short- and long-term financial goals? • What are the key tax implications of RSUs, and how can you plan ahead to avoid surprises? • Why is it important to diversify RSU holdings, and what are the risks of overconcentration in company stock? Key Timestamps: (00:00) - What are RSUs (02:00) - Excitement and risks of RSUs (04:00) - Vesting and phantom value explained (07:00) - Risks of changing employers (08:00) - Tax implications when RSUs vest (09:00) - Why companies prefer RSUs over bonuses (16:00) - Planning around estimated taxes and W-4 (17:00) - Options after receiving vested shares (23:00) - Emotional bias and loyalty to company stock (24:00) - Goals-based decisions and opportunity cost (25:00) - Periodic sales and tax considerations (26:00) - Aligning RSUs with short- and long-term goals (28:00) - Plan rules and trading restrictions (31:00) - Risk of holding too much company stock Key Topics Discussed: Financial Fortitude, Genesis Wealth Planning, Brady Hemmerle, Michael Acosta, Financial Wellness, Wealth Building, Financial Psychology, Financial Advisor, Finance Coach, Student Loan Debt, Finance Guidance for High Earners, Business Owner Finances, Hiring a Financial Advisor, Student Loan Forgiveness, Tax Strategies, Retirement Planning, Investing Strategies, Stock Market Crashes, Millennial Financial Planning, Gen Z Money Struggles, Overcoming Financial Stress, Building Financial Confidence, Modern Financial Goals Strategy, Restricted Stock Units, RSU tax strategies, tech compensation planning, RSU investment tips, maximizing RSU benefits Mentions: Website: https://www.genesiswealthplanning.com/ Michael’s LinkedIn: https://www.linkedin.com/in/michaelracosta/ Brady’s LinkedIn: https://www.linkedin.com/in/brady-hemmerle-cfp%C2%AE-75043013a/ Financial Health Checkup: https://www.livingbalancesheet.com/lbsVision/lite/michaelracosta This podcast is for informational purposes only and is not to be construed as tax, legal, or investment advice. Although the information has been gathered from sources believed to be reliable, please note that individual situations can vary. Therefore, the information should be relied upon only when coordinated with individual professional advice. Guest speakers and their firms are not affiliated with or endorsed by PAS, Guardian, or Genesis Wealth Planning and opinions stated are their own. Guardian, its subsidiaries, agents, and employees do not provide tax, legal, or accounting advice. Consult your tax, legal, or accounting professional regarding your individual situation. All investments and investment strategies contain risk and may lose value. Michael Acosta is a Registered Representative and Financial Advisor of Park Avenue Securities LLC (PAS). OSJ: 6115 PARK SOUTH DRIVE, SUITE 200, CHARLOTTE NC, 28210, 704-5528507. Securities products and advisory services offered through PAS, member FINRA, SIPC. Financial Representative of The Guardian Life Insurance Company of America® (Guardian), New York, NY. PAS is a wholly owned subsidiary of Guardian. Genesis Wealth Planning is not an affiliate or subsidiary of PAS or Guardian. CA Insurance License # 0M50974. 7237198.7. Expiration 5/27.…
Market corrections can be unsettling, but for savvy investors, they also unlock powerful planning opportunities. In this eye-opening episode, Michael and Brady break down why a down market might be the perfect time to consider a Roth conversion. Learn how converting pre-tax retirement savings to Roth during a downturn can reduce your tax liability and supercharge your future tax-free growth. Discover who should consider this strategy, the key tax traps to avoid, and why coordination with your financial and tax professionals is critical. Whether you're years away from retirement or already taking distributions, this timely discussion could help you turn market lemons into long-term tax-free lemonade. If you're serious about proactive tax planning and wealth building—even in volatile times—this is an episode you won’t want to miss. Key Takeaways: • Why is a market downturn a strategic time to consider a Roth conversion? • What key tax and income considerations should be reviewed before making a Roth move? • Who stands to benefit most from Roth conversions, and how can professionals help guide the decision? Key Timestamps: (00:00) – The Psychology of a Pullback & Planning Ahead (03:00) – Beyond “Hold the Line”: Turning Volatility Into Strategy (04:30) – What is a Roth Conversion? (06:00) – The Long-Term Tax-Free Growth Advantage (08:30) – Roth vs. Traditional in Retirement (10:00) – Why Down Markets Can Mean Lower Tax Bills (13:00) – Who Should Consider Roth Conversions? (15:00) – Key Tax Considerations & Common Pitfalls (18:00) – Avoiding Mistakes: Timing, Income, and Liquidity (21:00) – Who to Involve: Advisors, CPAs, and Your Spouse (23:00) – Executing Smartly Key Topics Discussed: Financial Fortitude, Genesis Wealth Planning, Brady Hemmerle, Michael Acosta, Financial Wellness, Wealth Building, Financial Psychology, Financial Advisor, Finance Coach, Student Loan Debt, Finance Guidance for High Earners, Business Owner Finances, Hiring a Financial Advisor, Student Loan Forgiveness, Tax Strategies, Retirement Planning, Investing Strategies, Stock Market Crashes, Millennial Financial Planning, Gen Z Money Struggles, Overcoming Financial Stress, Building Financial Confidence, Modern Financial Goals Strategy, roth conversion during market downturn, tax planning strategies 2025, retirement planning in volatile markets, roth IRA vs traditional IRA, financial advisor tax strategies Mentions: Website: https://www.genesiswealthplanning.com/ Michael’s LinkedIn: https://www.linkedin.com/in/michaelracosta/ Brady’s LinkedIn: https://www.linkedin.com/in/brady-hemmerle-cfp%C2%AE-75043013a/ Financial Health Checkup: https://www.livingbalancesheet.com/lbsVision/lite/michaelracosta This podcast is for informational purposes only and is not to be construed as tax, legal, or investment advice. Although the information has been gathered from sources believed to be reliable, please note that individual situations can vary. Therefore, the information should be relied upon only when coordinated with individual professional advice. Guest speakers and their firms are not affiliated with or endorsed by PAS, Guardian, or Genesis Wealth Planning and opinions stated are their own. Guardian, its subsidiaries, agents, and employees do not provide tax, legal, or accounting advice. Consult your tax, legal, or accounting professional regarding your individual situation. All investments and investment strategies contain risk and may lose value. Michael Acosta is a Registered Representative and Financial Advisor of Park Avenue Securities LLC (PAS). OSJ: 6115 PARK SOUTH DRIVE, SUITE 200, CHARLOTTE NC, 28210, 704-5528507. Securities products and advisory services offered through PAS, member FINRA, SIPC. Financial Representative of The Guardian Life Insurance Company of America® (Guardian), New York, NY. PAS is a wholly owned subsidiary of Guardian. Genesis Wealth Planning is not an affiliate or subsidiary of PAS or Guardian. CA Insurance License # 0M50974. 7237198.6. Expiration 4/27.…
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Financial Fortitude
Michael and Brady dive into the rapidly shifting landscape of federal student loans — and why now is the time to pay attention. From the return of online applications at studentaid.gov to the major legal uncertainty around the SAVE plan, we unpack what borrowers need to do today to stay on track. Whether you're navigating income-driven repayment, thinking about loan consolidation, or just trying to avoid costly mistakes during tax season, this episode gives you clear insights and action steps. You'll learn how to choose between PSLF and time-based forgiveness — why your 2024 tax return could make or break your student loan payment — what happens if popular repayment plans like SAVE, PAYE, or ICR disappear — how to take control in a confusing, lawsuit-laden loan environment. Confused? Overwhelmed? You’re not alone — but you don’t have to be unprepared. Tune in to feel empowered, not paralyzed. Key Takeaways: • What recent legal and administrative developments have impacted the availability and structure of federal student loan repayment plans? • How can borrowers use tax filing strategies to potentially reduce their monthly student loan payments? • What are the differences in impact between public service loan forgiveness and time-based forgiveness amid ongoing changes in loan policy? Key Timestamps: (00:00) - Recent Developments in Student Loans (05:00) - Impact on Borrowers (09:00) - Where We Stand Now (12:00) - Why Borrowers May Want to Act Now (15:00) - Tax Filing and Loan Strategy (20:00) - Extension Strategy (22:00) - Married Couple (Resident + Working Spouse) (25:00) - Number Crunching: SAVE vs IBR (30:00) - Long-Term Planning Outlook Key Topics Discussed: Financial Fortitude, Genesis Wealth Planning, Brady Hemmerle, Michael Acosta, Financial Wellness, Wealth Building, Financial Psychology, Financial Advisor, Finance Coach, Student Loan Debt, Finance Guidance for High Earners, Business Owner Finances, Hiring a Financial Advisor, Student Loan Forgiveness, Tax Strategies, Retirement Planning, Investing Strategies, Stock Market Crashes, Millennial Financial Planning, Gen Z Money Struggles, Overcoming Financial Stress, Building Financial Confidence, Modern Financial Goals Strategy, Federal Student Loan Forgiveness 2025, Income-Driven Repayment Plan Updates, SAVE Plan Lawsuit and Implications, Student Loan Tax Strategy 2024, PSLF Buyback Program Explained Mentions: Website: https://www.genesiswealthplanning.com/ Michael’s LinkedIn: https://www.linkedin.com/in/michaelracosta/ Brady’s LinkedIn: https://www.linkedin.com/in/brady-hemmerle-cfp%C2%AE-75043013a/ Financial Health Checkup: https://www.livingbalancesheet.com/lbsVision/lite/michaelracosta This podcast is for informational purposes only and is not to be construed as tax, legal, or investment advice. Although the information has been gathered from sources believed to be reliable, please note that individual situations can vary. Therefore, the information should be relied upon only when coordinated with individual professional advice. Guest speakers and their firms are not affiliated with or endorsed by PAS, Guardian, or Genesis Wealth Planning and opinions stated are their own. Guardian, its subsidiaries, agents, and employees do not provide tax, legal, or accounting advice. Consult your tax, legal, or accounting professional regarding your individual situation. All investments and investment strategies contain risk and may lose value. Michael Acosta is a Registered Representative and Financial Advisor of Park Avenue Securities LLC (PAS). OSJ: 6115 PARK SOUTH DRIVE, SUITE 200, CHARLOTTE NC, 28210, 704-5528507. Securities products and advisory services offered through PAS, member FINRA, SIPC. Financial Representative of The Guardian Life Insurance Company of America® (Guardian), New York, NY. PAS is a wholly owned subsidiary of Guardian. Genesis Wealth Planning is not an affiliate or subsidiary of PAS or Guardian. CA Insurance License # 0M50974. 7237198.5. Expiration 4/27.…
The stock market has been a wild ride lately, and if your emotions are following every twist and turn, you're not alone. Market swings can be nerve-wracking, but staying level-headed is the key to long-term success. In this episode, Michael and Brady break down exactly what market volatility means for your investments, no matter where you are in your financial journey. Whether you're just starting out, mid-career, or closing in on retirement, this episode will help you navigate turbulent markets with confidence. From smart portfolio strategies to opportunities hidden in the chaos, we’re turning uncertainty into action. Don't let fear drive your financial future! Tune in to hear expert insights, practical advice, and a refreshing perspective on why staying the course could be your best move yet. Grab your coffee (or something stronger), and let’s dive in! Key Takeaways: • How should investors approach market volatility based on their stage in the financial journey (accumulation vs. retirement)? • What strategies can help mitigate risks and take advantage of market downturns, such as rebalancing and tax-efficient investing? • Why is it important to focus on long-term investing and avoid making emotional decisions based on short-term market fluctuations? Key Timestamps: (00:00) – Market Fluctuations and Emotions (03:00) – Market Volatility for Beginner Investors (04:00) – Buying Market Dips (07:00) – Historical S&P 500 Performance (08:00) – Positive vs. Negative Years (12:00) – Impact on Retirees (15:00) – Wade Pfau’s Research (18:00) – Retirement Allocations (21:00) – Short vs. Long-Term Outlooks (23:00) – 2025 Market Outlook (24:00) – Diversification Key Topics Discussed: Financial Fortitude, Genesis Wealth Planning, Brady Hemmerle, Michael Acosta, Financial Wellness, Wealth Building, Financial Psychology, Financial Advisor, Finance Coach, Student Loan Debt, Finance Guidance for High Earners, Business Owner Finances, Hiring a Financial Advisor, Student Loan Forgiveness, Tax Strategies, Retirement Planning, Investing Strategies, Stock Market Crashes, Millennial Financial Planning, Gen Z Money Struggles, Overcoming Financial Stress, Building Financial Confidence, Modern Financial Goals Strategy, rebalancing your portfolio, tax efficient strategies., The Rewards of Long-Term Investing, Franklin Templeton, S&P 500, Wade Pfau, market downturns, volatile market, Glide Path Strategy Mentions: Website: https://www.genesiswealthplanning.com/ Michael’s LinkedIn: https://www.linkedin.com/in/michaelracosta/ Brady’s LinkedIn: https://www.linkedin.com/in/brady-hemmerle-cfp%C2%AE-75043013a/ Financial Health Checkup: https://www.livingbalancesheet.com/lbsVision/lite/michaelracosta This podcast is for informational purposes only and is not to be construed as tax, legal, or investment advice. Although the information has been gathered from sources believed to be reliable, please note that individual situations can vary. Therefore, the information should be relied upon only when coordinated with individual professional advice. Guest speakers and their firms are not affiliated with or endorsed by PAS, Guardian, or Genesis Wealth Planning and opinions stated are their own. Guardian, its subsidiaries, agents, and employees do not provide tax, legal, or accounting advice. Consult your tax, legal, or accounting professional regarding your individual situation. All investments and investment strategies contain risk and may lose value. Michael Acosta is a Registered Representative and Financial Advisor of Park Avenue Securities LLC (PAS). OSJ: 6115 PARK SOUTH DRIVE, SUITE 200, CHARLOTTE NC, 28210, 704-5528507. Securities products and advisory services offered through PAS, member FINRA, SIPC. Financial Representative of The Guardian Life Insurance Company of America® (Guardian), New York, NY. PAS is a wholly owned subsidiary of Guardian. Genesis Wealth Planning is not an affiliate or subsidiary of PAS or Guardian. CA Insurance License # 0M50974. 7237198.4 Expiration 3/27.…
Retirement—it's the finish line we're all running toward, but how do you know if you're actually on track? Michael and Brady break down the key questions you need to ask yourself, the common pitfalls to avoid, and the real numbers behind what it takes to retire comfortably. Whether you're in your 20s just starting to save, in your 40s navigating peak earning years, or approaching retirement and wondering if you have enough, this episode is packed with actionable insights to help you plan with confidence. Plus, they debunk the fear-inducing retirement calculators and offer a fresh, realistic approach to building your financial future. If you've ever felt overwhelmed by retirement planning, don't worry—you’re not alone. Tune in as Michael and Brady humanize the process, providing practical steps and guidance to ensure you’re building financial fortitude for your future. Key Takeaways: • How can individuals assess whether they are on track for retirement based on their age, savings, and lifestyle needs? • Why is focusing on income and cash flow in retirement more important than simply accumulating assets? • What key financial milestones should individuals aim for in each decade of their working years to ensure a secure retirement? Key Timestamps: (00:00) - The importance of retirement planning and why it matters at any stage of life. (03:00) - Regional differences in retirement expectations and how they impact planning. (05:00) - Common questions people ask about their retirement readiness. (06:00) - Key factors: Monthly spending and income as primary indicators. (09:00) - Case study: A mid-30s professional with $500K in assets – is he on track? (11:00) - The impact of inflation and why future expenses will be higher. (13:00) - The importance of saving 20% of income and the challenges of peak earning years. (15:00) - Benchmarks: How much should you have saved by different ages? (18:00) - How guaranteed income sources (Social Security, pensions) affect retirement planning. (20:00) - Different financial situations: A high-net-worth client vs. a frugal retiree. (23:00) - The journey up the mountain (accumulation) vs. the journey down (distribution). (27:00) - Risks in retirement and why flexibility is key. Key Topics Discussed: Financial Fortitude, Genesis Wealth Planning, Brady Hemmerle, Michael Acosta, Financial Wellness, Wealth Building, Financial Psychology, Financial Advisor, Finance Coach, Student Loan Debt, Finance Guidance for High Earners, Business Owner Finances, Hiring a Financial Advisor, Student Loan Forgiveness, Tax Strategies, Retirement Planning, Investing Strategies, Stock Market Crashes, Millennial Financial Planning, Gen Z Money Struggles, Overcoming Financial Stress, Building Financial Confidence, Modern Financial Goals Strategy, retirement planning, savings rate, investment strategy, retirement needs analysis, income replacement, wealth accumulation, financial security Mentions: Website: https://www.genesiswealthplanning.com/ Michael’s LinkedIn: https://www.linkedin.com/in/michaelracosta/ Brady’s LinkedIn: https://www.linkedin.com/in/brady-hemmerle-cfp%C2%AE-75043013a/ Financial Health Checkup: https://www.livingbalancesheet.com/lbsVision/lite/michaelracosta This podcast is for informational purposes only and is not to be construed as tax, legal, or investment advice. Although the information has been gathered from sources believed to be reliable, please note that individual situations can vary. Therefore, the information should be relied upon only when coordinated with individual professional advice. Guest speakers and their firms are not affiliated with or endorsed by PAS, Guardian, or Genesis Wealth Planning and opinions stated are their own. Guardian, its subsidiaries, agents, and employees do not provide tax, legal, or accounting advice. Consult your tax, legal, or accounting professional regarding your individual situation. All investments and investment strategies contain risk and may lose value. Michael Acosta is a Registered Representative and Financial Advisor of Park Avenue Securities LLC (PAS). OSJ: 6115 PARK SOUTH DRIVE, SUITE 200, CHARLOTTE NC, 28210, 704-5528507. Securities products and advisory services offered through PAS, member FINRA, SIPC. Financial Representative of The Guardian Life Insurance Company of America® (Guardian), New York, NY. PAS is a wholly owned subsidiary of Guardian. Genesis Wealth Planning is not an affiliate or subsidiary of PAS or Guardian. CA Insurance License # 0M50974. 6991809.1 Expiration 3-27.…
Most young professionals think they’re invincible. They’re healthy, thriving, and focused on building their careers and wealth. The idea of life insurance? It often gets dismissed as an unnecessary expense—something to "deal with later." But what if later never comes? In this episode of Financial Fortitude , hosts Michael Acosta and Brady Hemerly break down one of the most overlooked yet essential financial tools: term life insurance. It’s not just about covering funeral costs; it’s about ensuring financial security for your loved ones, keeping them from scrambling to survive on GoFundMe donations in the face of an unexpected loss. Micheal and Brady also tackle common misconceptions, debunk the "just invest the difference" argument, and show you why life insurance isn’t just for the old or unhealthy—it’s a strategic wealth-building tool that could safeguard everything you’ve worked so hard for. If you think you don’t need life insurance, this conversation might change your perspective—and potentially, your legacy. Key Takeaways: • Why is term life insurance often overlooked by young, healthy professionals, and how can it serve as a strategic financial tool? • How does term life insurance provide financial stability and peace of mind in the event of an untimely death? • What are the key factors to consider when determining the appropriate amount and type of life insurance coverage you need? Key Timestamps: (00:00) - Breaking Myths About Term Life Insurance (03:00) - The Debate: 'Why Not Just Invest Instead?' (05:00) - Case Study: Young Medical Professional at a Crossroad (07:00) - The Perceived Waste: 'Why Pay If I Won't Use It?' (10:00) - The Math: What You Actually Pay vs. What You Get (12:00) - Accumulation vs. Deaccumulation (13:00) - Worst-Case Scenario: Death in Year 5 (18:00) - The Power of a $1M Tax-Free Death Benefit (22:00) - Risk Over Time: Why Coverage Decreases as You Age (27:00) - Death in Year 15 vs. Year 30: What’s the Difference? (29:00) - Unrealistic Growth Rates for Self-Insuring (31:00) - Life Insurance for Different Life Stages Key Topics Discussed: Financial Fortitude, Genesis Wealth Planning, Brady Hemmerle, Michael Acosta, Financial Wellness, Wealth Building, Financial Psychology, Financial Advisor, Finance Coach, Student Loan Debt, Finance Guidance for High Earners, Business Owner Finances, Hiring a Financial Advisor, Student Loan Forgiveness, Tax Strategies, Retirement Planning, Investing Strategies, Stock Market Crashes, Millennial Financial Planning, Gen Z Money Struggles, Overcoming Financial Stress, Building Financial Confidence, Modern Financial Goals Strategy, term life insurance, young professionals, financial future, retirement goals, tax free death benefit, financial stability, life insurance premiums, investing, savings, financial advisors, wealth building, financial immune system, GoFundMe, retirement, financial flexibility, peace of mind, tax free, death benefit, extraordinary wealth building rate, medical professionals. Mentions: Website: https://www.genesiswealthplanning.com/ Michael’s LinkedIn: https://www.linkedin.com/in/michaelracosta/ Brady’s LinkedIn: https://www.linkedin.com/in/brady-hemmerle-cfp%C2%AE-75043013a/ Financial Health Checkup: https://www.livingbalancesheet.com/lbsVision/lite/michaelracosta This podcast is for informational purposes only and is not to be construed as tax, legal, or investment advice. Although the information has been gathered from sources believed to be reliable, please note that individual situations can vary. Therefore, the information should be relied upon only when coordinated with individual professional advice. Guest speakers and their firms are not affiliated with or endorsed by PAS, Guardian, or Genesis Wealth Planning and opinions stated are their own. Guardian, its subsidiaries, agents, and employees do not provide tax, legal, or accounting advice. Consult your tax, legal, or accounting professional regarding your individual situation. All investments and investment strategies contain risk and may lose value. Michael Acosta is a Registered Representative and Financial Advisor of Park Avenue Securities LLC (PAS). OSJ: 6115 PARK SOUTH DRIVE, SUITE 200, CHARLOTTE NC, 28210, 704-5528507. Securities products and advisory services offered through PAS, member FINRA, SIPC. Financial Representative of The Guardian Life Insurance Company of America® (Guardian), New York, NY. PAS is a wholly owned subsidiary of Guardian. Genesis Wealth Planning is not an affiliate or subsidiary of PAS or Guardian. CA Insurance License # 0M50974. 7237198.3. Expiration 2-27.…
Michael and Brady delve into the complexities of managing an inheritance. They guide listeners through the steps of handling an inheritance wisely—from understanding what assets are inherited to aligning the windfall with personal financial goals and avoiding common pitfalls. The episode emphasizes the immense $84 trillion wealth transfer expected by 2045 and the importance of planning for both the giver and the receiver. Key topics include maintaining emotional discipline, understanding tax implications, and the necessity of clear communication within families. Key takeaways and actionable steps are highlighted to ensure listeners can make purposeful financial decisions that align with their long-term goals. Key Takeaways: • What are the key steps you should take immediately after receiving an inheritance? • How can understanding the types of assets you inherit affect your financial planning? • Why is it important to seek professional advice before making decisions about your inheritance? Key Timestamps: (00:00) - The Emotional Impact of Inheritance (03:57) - Statistics and Trends in Inheritance (08:33) - Proactive Planning and Communication (14:15) - Steps to Take After Receiving an Inheritance (21:31) - Understanding Different Types of Inherited Assets (24:10) - Key Considerations for Inherited Assets (32:54) - Immediate Gratification (37:10) - Common Pitfalls in Inheriting Money Key Topics Discussed: Financial Fortitude, Genesis Wealth Planning, Brady Hemmerle, Michael Acosta, Financial Wellness, Wealth Building, Financial Psychology, Financial Advisor, Finance Coach, Student Loan Debt, Finance Guidance for High Earners, Business Owner Finances, Hiring a Financial Advisor, Student Loan Forgiveness, Tax Strategies, Retirement Planning, Investing Strategies, Stock Market Crashes, Millennial Financial Planning, Gen Z Money Struggles, Overcoming Financial Stress, Building Financial Confidence, Modern Financial Goals Strategy, inheritance, financial windfall, financial goals, managing inheritance, windfall proceeds, legacy, wealth transfer, financial plan, estate planning, tax efficient, financial success, cash flow, investment account, financial decision. Mentions: Website: https://www.genesiswealthplanning.com/ Michael’s LinkedIn: https://www.linkedin.com/in/michaelracosta/ Brady’s LinkedIn: https://www.linkedin.com/in/brady-hemmerle-cfp%C2%AE-75043013a/ Financial Health Checkup: https://www.livingbalancesheet.com/lbsVision/lite/michaelracosta This podcast is for informational purposes only and is not to be construed as tax, legal, or investment advice. Although the information has been gathered from sources believed to be reliable, please note that individual situations can vary. Therefore, the information should be relied upon only when coordinated with individual professional advice. Guest speakers and their firms are not affiliated with or endorsed by PAS, Guardian, or Genesis Wealth Planning and opinions stated are their own. Guardian, its subsidiaries, agents, and employees do not provide tax, legal, or accounting advice. Consult your tax, legal, or accounting professional regarding your individual situation. All investments and investment strategies contain risk and may lose value. Michael Acosta is a Registered Representative and Financial Advisor of Park Avenue Securities LLC (PAS). OSJ: 6115 PARK SOUTH DRIVE, SUITE 200, CHARLOTTE NC, 28210, 704-5528507. Securities products and advisory services offered through PAS, member FINRA, SIPC. Financial Representative of The Guardian Life Insurance Company of America® (Guardian), New York, NY. PAS is a wholly owned subsidiary of Guardian. Genesis Wealth Planning is not an affiliate or subsidiary of PAS or Guardian. CA Insurance License # 0M50974. 7237198.2 Expiration 2/27.…
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Financial Fortitude
1 What You Don’t Want to Overlook When Buying or Selling Your Business | Justin Sandridge - E14 42:17
Justin Sandridge, an experienced M&A advisor from Murphy Business Sales, discusses the intricacies of buying or selling a business, emphasizing the importance of meticulous planning and professional guidance. Justin shares his insights on key financial, legal, and operational details that business owners should not overlook. The conversation also touches on the importance of early planning, understanding business valuation, and how to make a business more marketable by focusing on financial reporting, reducing owner dependency, and diversifying customer concentration. This episode is part one of a mini-series designed to help business owners and entrepreneurs navigate one of the most significant decisions they will ever make. Key Takeaways: • Why is early exit planning crucial for business owners, and what timeframe is recommended for starting this process? • What are the key financial and operational factors that can influence the valuation of a business? • Who are the essential professionals that business owners should engage with during the exit planning process? Key Timestamps: (00:00) - The Landscape of Business Sales (09:00) - Planning Your Business Exit Strategy (16:04) - Financial Considerations for Business Owners (21:47) - Building Your Dream Team for Business Transition (23:39) - The Importance of Accurate Valuation (27:24) - The Four C's: Enhancing Business Value (29:56) - Common Deal Killers and How to Avoid Them (37:16) - Preparing for the Next Steps: Structuring the Deal Key Topics Discussed: Financial Fortitude, Genesis Wealth Planning, Brady Hemmerle, Michael Acosta, Financial Wellness, Wealth Building, Financial Psychology, Financial Advisor, Finance Coach, Student Loan Debt, Finance Guidance for High Earners, Business Owner Finances, Hiring a Financial Advisor, Student Loan Forgiveness, Tax Strategies, Retirement Planning, Investing Strategies, Stock Market Crashes, Millennial Financial Planning, Gen Z Money Struggles, Overcoming Financial Stress, Building Financial Confidence, Modern Financial Goals Strategy, buying or selling a business, exit planning, business exit strategy, financial plan, sell your business, buy a business, entrepreneur, M&A advisor, Murphy Business Sales, business valuation, financial reporting, customer capital, intellectual property, personal financial planning, business owner, Justin Sandridge Mentions: Justin’s website: https://www.murphybusiness.com and https://www.sellcharlottebusiness.com Justin’s LinkedIn: https://www.linkedin.com/in/justinsandridge/ Website: https://www.genesiswealthplanning.com/ Michael’s LinkedIn: https://www.linkedin.com/in/michaelracosta/ Brady’s LinkedIn: https://www.linkedin.com/in/brady-hemmerle-cfp%C2%AE-75043013a/ Financial Health Checkup: https://www.livingbalancesheet.com/lbsVision/lite/michaelracosta Sources: "2023 National State of Owner Readiness Report" by the Exit Planning Institute This podcast is for informational purposes only and is not to be construed as tax, legal, or investment advice. Although the information has been gathered from sources believed to be reliable, please note that individual situations can vary. Therefore, the information should be relied upon only when coordinated with individual professional advice. Guest speakers and their firms are not affiliated with or endorsed by PAS, Guardian, or Genesis Wealth Planning and opinions stated are their own. Guardian, its subsidiaries, agents, and employees do not provide tax, legal, or accounting advice. Consult your tax, legal, or accounting professional regarding your individual situation. All investments and investment strategies contain risk and may lose value. Michael Acosta is a Registered Representative and Financial Advisor of Park Avenue Securities LLC (PAS). OSJ: 6115 PARK SOUTH DRIVE, SUITE 200, CHARLOTTE NC, 28210, 704-5528507. Securities products and advisory services offered through PAS, member FINRA, SIPC. Financial Representative of The Guardian Life Insurance Company of America® (Guardian), New York, NY. PAS is a wholly owned subsidiary of Guardian. Genesis Wealth Planning is not an affiliate or subsidiary of PAS or Guardian. CA Insurance License # 0M50974. 6991809.9. Expiration 2/27.…
Michael and Brady dive into the concept of becoming an Extraordinary Wealth Builder (EWB). They discuss the importance of saving intentionally and breaking down the steps to achieve financial greatness. This episode highlights the personal savings landscape in America, presents a comparison between average savers and EWBs, and offers practical steps to enhance savings strategies. Key topics covered include setting savings targets, creating awareness, automating savings, diversifying savings across short, mid, and long-term goals, and emphasizing the importance of purposeful financial planning. Key Takeaways: • What does it mean to be an extraordinary wealth builder (EWB) rather than just an average saver? • How can automating and diversifying your savings contribute to financial success? • Why is it important to focus on the amount you save rather than just relying on market returns for financial growth? Key Timestamps: (00:00) - The Basics of Becoming an EWB (01:27) - Challenges and Common Questions (03:02) - Current Savings Landscape (05:50) - Setting Higher Savings Goals (09:50) - Practical Steps to Save More (15:57) - Short, Mid, and Long-Term Savings (25:35) - Comparing Average vs. Extraordinary Savers Key Topics Discussed: Financial Fortitude, Genesis Wealth Planning, Brady Hemmerle, Michael Acosta, financial wellness, wealth building, financial psychology, financial advisor, finance therapist, student loan debt, finance guidance for high earners, business owner finances, extraordinary wealth builder(EWB), Bureau of Economic Analysis, emergency fund, balance sheet, high yield savings accounts, financial diet plan, tax deferred retirement account, Roth IRA, 401k, 403b, traditional IRA, non retirement investment account, social security, CFP Board, return on investment, early withdrawal penalties Mentions: Website: https://www.genesiswealthplanning.com/ Michael’s LinkedIn: https://www.linkedin.com/in/michaelracosta/ Brady’s LinkedIn: https://www.linkedin.com/in/brady-hemmerle-cfp%C2%AE-75043013a/ Financial Health Checkup: https://www.livingbalancesheet.com/lbsVision/lite/michaelracosta This podcast is for informational purposes only and is not to be construed as tax, legal, or investment advice. Although the information has been gathered from sources believed to be reliable, please note that individual situations can vary. Therefore, the information should be relied upon only when coordinated with individual professional advice. Guest speakers and their firms are not affiliated with or endorsed by PAS, Guardian, or (INSERT DBA or AGENCY NAME) and opinions stated are their own. Guardian, its subsidiaries, agents, and employees do not provide tax, legal, or accounting advice. Consult your tax, legal, or accounting professional regarding your individual situation. All investments and investment strategies contain risk and may lose value. Michael Acosta is a Registered Representative and Financial Advisor of Park Avenue Securities LLC (PAS). OSJ: 6115 PARK SOUTH DRIVE, SUITE 200, CHARLOTTE NC, 28210, 704-5528507. Securities products and advisory services offered through PAS, member FINRA, SIPC. Financial Representative of The Guardian Life Insurance Company of America® (Guardian), New York, NY. PAS is a wholly owned subsidiary of Guardian. (INSERT DBA or AGENCY NAME) is not an affiliate or subsidiary of PAS or Guardian. CA Insurance License # 0M50974. 6991809.8. Expiration 12/26.…
Michael and Brady dive into the intricacies of debt management and its impact on financial well-being. They explore the concept of good debt versus bad debt, discussing common types such as mortgages, student loans, business loans, and consumer debt. The episode emphasizes the importance of using debt as a strategic tool to advance one's financial situation while highlighting the risks and emotional challenges associated with poor debt management. Listeners are provided with practical tips on handling debt wisely, the benefits of certain types of debts, and methods to avoid high-interest consumer debt. The episode aims to empower listeners to make informed decisions about taking on and managing debt to achieve their financial goals. Key Takeaways: • How can individuals leverage good debt to build their financial future while avoiding the pitfalls of bad debt? • What strategies can be employed to manage and eliminate high-interest consumer debts effectively? • In what ways can mortgage loans, student loans, and business loans be utilized as tools to enhance financial growth and stability? Key Timestamps: (00:00) - Emotional Impact of Debt (04:24) - Personal Experiences with Debt (07:57) - Current Debt Landscape in the US (11:16) - Good Debt vs. Bad Debt (18:33) - Leveraging Debt for Financial Growth (24:11) - Student Loans: A Deeper Dive (28:21) - Leveraging Debt as a Tool (28:34) - Business Loans: Purpose and Pitfalls (30:53) - Home Equity Line of Credit (HELOC) (33:18) - Securities Backed Line of Credit (SBLOC) (37:25) - Managing Good Debt Wisely (39:19) - Avoiding Bad Debt (40:00) - Practical Tips for Debt Management (47:13) - Utility of Debt (50:50) - Key Indicators of Debt Management Key Topics Discussed: Financial Fortitude, Genesis Wealth Planning, Brady Hemmerle, Michael Acosta, financial wellness, wealth building, financial psychology, financial advisor, finance therapist, student loan debt, finance guidance for high earners, business owner finances Mentions: Website: https://www.genesiswealthplanning.com/ Michael’s LinkedIn: https://www.linkedin.com/in/michaelracosta/ Brady’s LinkedIn: https://www.linkedin.com/in/brady-hemmerle-cfp%C2%AE-75043013a/ Financial Health Checkup: https://www.livingbalancesheet.com/lbsVision/lite/michaelracosta This podcast is for informational purposes only and is not to be construed as tax, legal, or investment advice. Although the information has been gathered from sources believed to be reliable, please note that individual situations can vary. Therefore, the information should be relied upon only when coordinated with individual professional advice. Guest speakers and their firms are not affiliated with or endorsed by PAS, Guardian, or (INSERT DBA or AGENCY NAME) and opinions stated are their own. Guardian, its subsidiaries, agents, and employees do not provide tax, legal, or accounting advice. Consult your tax, legal, or accounting professional regarding your individual situation. All investments and investment strategies contain risk and may lose value. Michael Acosta is a Registered Representative and Financial Advisor of Park Avenue Securities LLC (PAS). OSJ: 6115 PARK SOUTH DRIVE, SUITE 200, CHARLOTTE NC, 28210, 704-5528507. Securities products and advisory services offered through PAS, member FINRA, SIPC. Financial Representative of The Guardian Life Insurance Company of America® (Guardian), New York, NY. PAS is a wholly owned subsidiary of Guardian. (INSERT DBA or AGENCY NAME) is not an affiliate or subsidiary of PAS or Guardian. CA Insurance License # 0M50974. 6991809.5. Expiration 11/26.…
Kick off the New Year by exploring the power of SMART goals—specific, measurable, achievable, relevant, and time-bound—in achieving your financial ambitions for 2025. Michael and Brady provide practical examples and actionable tips to help you stay organized, prioritize effectively, and remain focused despite life’s inevitable distractions. The conversation also dives deep into personal anecdotes and client stories, emphasizing the importance of relevance and alignment in your financial planning journey. Whether you aim to boost savings, pay off debt, or plan for major life events, this episode provides the guidance and tools you need to succeed. Key Takeaways: • What is the SMART framework, and how can I apply it to my financial goals? • What tools can I use to measure my progress towards financial goals effectively? • Why is it important to identify the “why” behind my goals, and how can I effectively do that? • How can I balance personal, professional, and financial goals effectively? Key Timestamps: (00:00) – Setting SMART Goals for 2025 (01:22) – Goal Planning in the Acosta Household (02:20) – The Importance of Specific Goals (03:28) – Practical Tips for Goal Setting (05:39) – The Role of Measurables in Goal Setting (06:18) – Balancing Personal, Professional, and Financial Goals (19:00) – Tools for Measuring Progress (20:21) – Budgeting and Cash Flow Management (26:22) – Relevance: Understanding the 'Why' Behind Goals (33:35) – Time-Bound Goals: Creating Realistic Deadlines (39:02) – Common Pitfalls in Goal Setting Key Topics Discussed: Financial Fortitude, Genesis Wealth Planning, Brady Hemmerle, Michael Acosta, Financial Wellness, Wealth Building, Financial Psychology, Financial Advisor, Finance Coach, Student Loan Debt, Finance Guidance for High Earners, Business Owner Finances, Hiring a Financial Advisor, Student Loan Forgiveness, Tax Strategies, Retirement Planning, Investing Strategies, Stock Market Crashes, Millennial Financial Planning, Gen Z Money Struggles, Overcoming Financial Stress, Building Financial Confidence, Modern Financial Goals Strategy Mentions: Website: https://www.genesiswealthplanning.com/ Michael’s LinkedIn: https://www.linkedin.com/in/michaelracosta/ Brady’s LinkedIn: https://www.linkedin.com/in/brady-hemmerle-cfp%C2%AE-75043013a/ Financial Health Checkup: https://www.livingbalancesheet.com/lbsVision/lite/michaelracosta This podcast is for informational purposes only and is not to be construed as tax, legal, or investment advice. Although the information has been gathered from sources believed to be reliable, please note that individual situations can vary. Therefore, the information should be relied upon only when coordinated with individual professional advice. Guest speakers and their firms are not affiliated with or endorsed by PAS, Guardian, or (INSERT DBA or AGENCY NAME) and opinions stated are their own. Guardian, its subsidiaries, agents, and employees do not provide tax, legal, or accounting advice. Consult your tax, legal, or accounting professional regarding your individual situation. All investments and investment strategies contain risk and may lose value. Michael Acosta is a Registered Representative and Financial Advisor of Park Avenue Securities LLC (PAS). OSJ: 6115 PARK SOUTH DRIVE, SUITE 200, CHARLOTTE NC, 28210, 704-5528507. Securities products and advisory services offered through PAS, member FINRA, SIPC. Financial Representative of The Guardian Life Insurance Company of America® (Guardian), New York, NY. PAS is a wholly owned subsidiary of Guardian. (INSERT DBA or AGENCY NAME) is not an affiliate or subsidiary of PAS or Guardian. CA Insurance License # 0M50974. 6991809.6. Expiration 11/26.…
Michael and Brady discuss the concept of lifestyle inflation, where increased income leads to increased spending, often hindering long-term financial goals. They explore how lifestyle creep happens, how to recognize it, and strategies to spend with purpose. By focusing on aligning spending with what truly matters, they propose a shift towards automation and disciplined financial planning. They highlight real-life examples, emphasize the importance of financial literacy, and offer practical solutions for maintaining financial health while enjoying life. This episode is essential for high earners, families, and business owners looking to strengthen their financial fortitude. Key Takeaways: • How does lifestyle creep happen? • What are the strategies for aligning purpose with spending? • What are the impacts of lifestyle inflation? • How can we automate savings? Key Timestamps: (00:00) - Lifestyle Inflation (01:33) - Defining Lifestyle Creep (02:35) - Real-Life Examples of Lifestyle Inflation (08:54) - Behavioral Aspects of Lifestyle Inflation (13:04) - Traditional Approaches to Curbing Lifestyle Creep (16:48) - Reengineering Spending Pathways (20:51) - Importance of Paying Yourself First (21:45) - Setting Up a Wealth Building Account (WBA) (22:51) - Automating Your Savings for Success (26:40) - Case Study: The Impact of Lifestyle Creep (29:38) - Purpose-Driven Financial Planning (35:27) - Power of Accountability Key Topics Discussed: Financial Fortitude, Genesis Wealth Planning, Brady Hemmerle, Michael Acosta, Financial Wellness, Wealth Building, Financial Psychology, Financial Advisor, Finance Coach, Student Loan Debt, Finance Guidance for High Earners, Business Owner Finances, Hiring a Financial Advisor, Student Loan Forgiveness, Tax Strategies, Retirement Planning, Investing Strategies, Stock Market Crashes, Millennial Financial Planning, Gen Z Money Struggles, Overcoming Financial Stress, Building Financial Confidence, Modern Financial Goals Strategy, lifestyle inflation, lifestyle creep Mentions: Website: https://www.genesiswealthplanning.com/ Michael’s LinkedIn: https://www.linkedin.com/in/michaelracosta/ Brady’s LinkedIn: https://www.linkedin.com/in/brady-hemmerle-cfp%C2%AE-75043013a/ Financial Health Checkup: https://www.livingbalancesheet.com/lbsVision/lite/michaelracosta This podcast is for informational purposes only and is not to be construed as tax, legal, or investment advice. Although the information has been gathered from sources believed to be reliable, please note that individual situations can vary. Therefore, the information should be relied upon only when coordinated with individual professional advice. Guest speakers and their firms are not affiliated with or endorsed by PAS, Guardian, or (INSERT DBA or AGENCY NAME) and opinions stated are their own. Guardian, its subsidiaries, agents, and employees do not provide tax, legal, or accounting advice. Consult your tax, legal, or accounting professional regarding your individual situation. All investments and investment strategies contain risk and may lose value. Michael Acosta is a Registered Representative and Financial Advisor of Park Avenue Securities LLC (PAS). OSJ: 6115 PARK SOUTH DRIVE, SUITE 200, CHARLOTTE NC, 28210, 704-5528507. Securities products and advisory services offered through PAS, member FINRA, SIPC. Financial Representative of The Guardian Life Insurance Company of America® (Guardian), New York, NY. PAS is a wholly owned subsidiary of Guardian. (INSERT DBA or AGENCY NAME) is not an affiliate or subsidiary of PAS or Guardian. CA Insurance License # 0M50974. 7237198.1 Expiration 11/26.…
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Financial Fortitude
Michael and Brady delve into the important topic of Roth conversions and their potential to revolutionize your retirement strategy. They provide a comprehensive breakdown of the differences between traditional IRAs and Roth IRAs, explain how Roth conversions work, and discuss the tax implications involved. The segment also covers when it makes sense to convert, the benefits and risks of this financial strategy, and offers practical scenarios to illustrate the impact. Listeners are guided through each step with real-life examples and tips on avoiding common pitfalls. Key Takeaways: • What are the key benefits of conducting Roth conversions as a part of long-term financial planning? • How can different life stages and income levels impact your decision to perform a Roth conversion? • What are some common mistakes to avoid when considering or executing a Roth conversion? Key Timestamps: (00:00) -Traditional vs. Roth IRAs (04:19) - How Roth Conversions Work (05:19) - The Evolution and Popularity of Roth IRAs (07:14) - Tax Implications and Strategies (16:56) - Key Considerations for Roth Conversions (18:20) - Benefits of Roth Conversions (23:25) - Strategies to Maximize Roth Conversions (35:06) - Common Mistakes to Avoid Key Topics Discussed: Financial Fortitude, Genesis Wealth Planning, Brady Hemmerle, Michael Acosta, Financial Wellness, Wealth Building, Financial Psychology, Financial Advisor, Finance Coach, Student Loan Debt, Finance Guidance for High Earners, Business Owner Finances, Hiring a Financial Advisor, Student Loan Forgiveness, Tax Strategies, Retirement Planning, Investing Strategies, Stock Market Crashes, Millennial Financial Planning, Gen Z Money Struggles, Overcoming Financial Stress, Building Financial Confidence, Modern Financial Goals Strategy, Roth conversions, Traditional vs Roth IRA, Tax-Free Retirement, Tax-Free Growth Mentions: Website: https://www.genesiswealthplanning.com/ Michael’s LinkedIn: https://www.linkedin.com/in/michaelracosta/ Brady’s LinkedIn: https://www.linkedin.com/in/brady-hemmerle-cfp%C2%AE-75043013a/ Financial Health Checkup: https://www.livingbalancesheet.com/lbsVision/lite/michaelracosta This podcast is for informational purposes only and is not to be construed as tax, legal, or investment advice. Although the information has been gathered from sources believed to be reliable, please note that individual situations can vary. Therefore, the information should be relied upon only when coordinated with individual professional advice. Guest speakers and their firms are not affiliated with or endorsed by PAS, Guardian, or (INSERT DBA or AGENCY NAME) and opinions stated are their own. Guardian, its subsidiaries, agents, and employees do not provide tax, legal, or accounting advice. Consult your tax, legal, or accounting professional regarding your individual situation. All investments and investment strategies contain risk and may lose value. Michael Acosta is a Registered Representative and Financial Advisor of Park Avenue Securities LLC (PAS). OSJ: 6115 PARK SOUTH DRIVE, SUITE 200, CHARLOTTE NC, 28210, 704-5528507. Securities products and advisory services offered through PAS, member FINRA, SIPC. Financial Representative of The Guardian Life Insurance Company of America® (Guardian), New York, NY. PAS is a wholly owned subsidiary of Guardian. (INSERT DBA or AGENCY NAME) is not an affiliate or subsidiary of PAS or Guardian. CA Insurance License # 0M50974. 6991809.7. Expiration 12/26.…
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