Shows
Coasting In Retirement with Josh NullEpisode 33: Succession Planning with Will SteihJosh is here today to discuss financial topics relevant to those of you in or near retirement living your best life along our part of the gulf coast with Will Steih. Takeaways Along with financial advice, the show discusses lifestyle topics like travel, leisure activities, health and wellness, and overall well-being in retirement. Diversifying investments, minimizing taxes, managing cash flow, and preparing for unexpected events. Navigating the changing economic landscape and adapt to new trends in retirement planning. 2024-06-0454 min
Wealth In WavesAlternative To A Roth IRA Josh Null and Will Steih of Gulf Coast Financial Advisors discuss an alternative for those that are unable to contribute to a Roth IRA because of income limits: permanent life insurance. Josh and Will discuss how a properly structured permanent life insurance policy can features similar to a Roth IRA, particularly tax free growth, but without the income and contribution limits associated with a qualified plan. The guys also discuss how the need for a death benefit should be one of the primary questions related to this particular strategy. Want To Know More About W...2022-01-1314 min
Wealth In WavesPooled Employer Plans (PEP) Josh Null and Will Steih of Gulf Coast Financial Advisors discuss Pooled Employer Plans, commonly known as a “PEP”. A PEP is a way for a smaller 401k plan to “pool” their investments with other businesses in an effort to improve the buying power of the plan as well as spread administrative costs over a wider base. Will and Josh discuss how the SECURE Act made certain rule changes designed to make PEPs more attractive to small business owners, as well as giving more flexibility in the types of companies that associate in a pool. Will and Josh als...2022-01-1113 min
Wealth In WavesLegal Ways to Defer Income Taxes In this episode, hosts Will Steih and Josh Null of Gulf Coast Financial Advisors discuss legal ways for business owners to defer income taxes, including 401k plans and SEP IRAs. This discussion includes a roadmap on how to set these plans up, particularly with the new SECURE Act deadlines, as well as practical tips on how to determine which plan may be the best fit for the business owner’s situation. Lastly, for those business owners with an appetite for retirement savings above the traditional qualified plan limits, Josh and Will discuss tax deferral options using a ty...2022-01-0620 min
Every Dollar Counts with Josh & JayYear End Personal Financial Assessment Josh and Jay are joined by very special guest Will Steih, a licensed CPA, Managing Director for the Nashville Market for Prime Capital Investment Advisors and a team mate of Josh’s at Gulf Coast Financial Advisors. The guys discuss how to do a personal financial assessment, diving into items like taxes, income, qualified retirement plan contributions, risk management and whether it’s time to take chips off the table or not. Want To Know More About Josh and Jay? You can reach out to Gulf Coast Financial Advisors to set up a no...2021-10-1818 min
Wealth In WavesBiz Owners: 5 Things to do by Year End Josh Null and Will Steih jump back into the Deep Fried podcast studio to provide some timely financial topics and tax deferral concepts for our listeners as we enter the 4th quarter. Join the hosts as they discuss the timing of claiming income, what to do if you’ve had a profitable year (especially if it’s been an exceptionally profitable year), how to leverage an existing 401k for tax deferral options, and strategies for tax deferral contributions above and beyond your standard 401k limits. The hosts also discuss the timing of implementing a qualified retirement plan, such...2021-10-0520 min
Wealth In Waves401k Plans and the Business Owner In this episode, hosts Josh Null and Will Steih discuss 401k plans from a business owner's perspective. They discuss if there is a best time of the year to offer a plan to your employees and how the Secure Act changed some of the filing deadlines starting with the 2020 plan year. They also discuss the benefits of having a 401k plan for attracting and retaining employees, especially in a tight labor market. Lastly, they remind existing plan sponsors that it's probably a good time to "benchmark" their plan to see if it is as competitive as possible...2021-07-1215 min
Wealth In WavesThe Impact of Inflation on Our Everyday Lives Per Wikipedia, Inflation is a “general rise in the price level of an economy over a period of time. When the general price level rises, each unit of currency buys fewer goods and services; consequently, inflation reflects a reduction in the purchasing power per unit of money – a loss of real value in the medium of exchange and unit of account within the economy”. While this is a concise summary, this does not fully encompass the effect of inflation on different groups of people in today’s modern economy. In this episode, hosts Will Steih and Josh Null d...2021-06-2218 min
Wealth In WavesLee Lawson of Baldwin County Economic Development Alliance Baldwin County is geographically huge and diverse county situated along the Gulf Coast of Lower Alabama, across Mobile Bay from Mobile, Alabama. Baldwin County also happens to be one of the fastest growing counties in the South / Southeast, and arguably the entire United States by percentage of population growth. Why is this? What attributes does Baldwin County offer that have consistently compelled people and businesses from all over the US to move there? Why is that rate of growth only increasing? What does the future hold for Baldwin County, Alabama? In this episode hosts Will...2021-06-1623 min
Wealth In WavesHere A Tax, There A Tax, Everywhere A Tax, Tax To the surprise of no one, our current political leadership is currently discussing the first federal income tax increase since 1993. Some of the key talking points are increasing the top marginal tax rate by nearly 3%, from 37% 39.6%, and particularly targeting those with incomes of $400,000 or more. Also on the table are raising the corporate tax rate from 21% to 28%. What hasn’t been explicitly discussed – yet – is the Estate Tax Exemption of $11.7 Million (per person) for 2021, but there are indications that revisiting the exemption amount and corresponding tax rate are on the agenda. In this episode, Will Steih a...2021-04-1314 min
Wealth In WavesIncome America's Matthew Wolniewicz As the availability of pensions has decreased over the past decades, particularly in the private sector, lifetime income needs for retirees has often been addressed with the use of insurance-company provided annuities. Given that these products typically come with a commission and often only require an insurance license to sell, the best interests of the investor has not always been served. The commission structure of annuities is often an issue for fee-only and fee-based fiduciary financial advisors as well. Setting the issue of commissions aside, the promise to provide guaranteed lifetime income often came with a hefty...2021-04-1321 min
Wealth In WavesHow to Avoid Unintended (& Unwanted) Business Partners If you or one of your fellow business partners were to become disabled or retired or pass away prematurely, who would gain control of the ownership share of the business? Once that fundamental question is answered in a written Buy-Sell Agreement, the next step is to provide funding so this transition can be financially completed. There are important concerns that can be answered by a well structured Buy-Sell Agreement - assignment of day to day responsibilities, cash needs of surviving heirs, handling of different personalities - but the main question remains how to financially replace...2021-04-1316 min
Wealth In WavesHow To Keep Your Best Employees Loyal Employee retention, especially in highly competitive industries and/or a tight labor market, is an issue facing many business owners. How do you attract, retain, and keep satisfied the most talented and productive members of your labor force? Many business owners have learned the hard way that just throwing additional dollars at the employee in the form of increased salary or cash bonuses only goes so far, and once the money is spent, there’s no real control over the outcome. Some business owners decide to use only the “stick” part of the employee retention equati...2021-04-0917 min
Wealth In WavesCan A Small Business Owner Create Their Own Pension? Pensions, or Defined Benefit Retirement Plans, have historically been the domain of large Fortune 100 companies and public sectors employers. Can a privately held small business (50 employees or less) create a defined benefit type plan for it’s owners and employees? In this episode hosts Will Steih and Josh Null discuss one possible pension-like solution for small business owners to consider: a Cash Balance Plan. If you’re a small business owner with an appetite for additional savings above your 401k contribution limits, tune into this episode to learn: - How a business owner with...2021-04-0921 min
Wealth In WavesAnd so it BEGINS! Welcome to Episode 1 of the Wealth in Waves Podcast, a show dedicated to all you busy folks out there making it happen along the Gulf Coast! To our listeners in New Orleans, Destin, Mobile, Santa Rosa Beach, Gulfport, Pensacola, Biloxi, and of course, our home base of Fairhope, Alabama, if you’re plugged into your work, your family, and your faith, you’ve found your show! In this episode, Will Steih and Josh Null discuss their respective journeys to creating the Wealth in Waves podcast, focusing on the “what’s the point” of the show, especially...2021-04-0913 min
Every Dollar Counts with Josh & JayWho are these guys? Getting To Know The Hosts! Josh and Jay take a break from discussing investments & insurance to talk about their personal lives and how life events have influenced their respective career paths. Tune in to hear how events in Jay Stubb’s early life led him to a career of helping families protect themselves financially from pre-mature death; how Josh Null’s winding path from running heavy equipment and doing manual labor as a youth in the Ozarks eventually led him to starting Gulf Coast Financial Advisors in Lower Alabama; and how Will Steih’s abundance of personality allowed him to pivot from a CPA...2021-01-1519 min
Every Dollar Counts with Josh & JayWhat is the Best Retirement Plan for a Business Owner? Josh and Jay welcome Will Steih back to the studio to dive deep into the different types of retirement plans available to Gulf Coast area business owners. If you’re a business owner that is looking to sock money away, what are your options? Should you consider a SEP IRA? Or a 401k? What is profit sharing? What is safe harbor? What is the best retirement plan for a business owner? IT DEPENDS! Join us to hear a straight forward conversation about your qualified plan options, plus some tips for those of you looking to save more ab...2021-01-0722 min
Every Dollar Counts with Josh & JayWealth Transfer Planning and the Estate Tax Exemption Josh and Jay welcome Will Steih back to the studio for a conversation about Wealth Transfer Planning, an important issue with the recently increased Estate Tax Exemption amount potentially in play with a new administration coming into power. The Estate Tax Exemption, commonly called the “Death Tax”, has an eventful history with the role it plays as a political issue. On a practical note, business owners and successful professionals should be aware of current exemption amounts, and how recent history has proven that those amounts can change with the “stroke of a pen”. No one can predict the futu...2020-11-1921 min
Every Dollar Counts with Josh & JayTaxes, Stimulus & Market Uncertainty The Big BOSS is back! Will Steih, the Managing Director for the Tennessee office of Prime Capital Investment Advisors, is back in studio with Josh Null and Jay Stubbs for another business owner focused podcast series. Now, normally the show topics are evergreen, but Will, Jay and Josh all felt that with a possibly historic election just days away, they would record some of their thoughts before the final outcome is known. Let put it down on tape for posterity, so that they could either make fun of themselves a few days (weeks? months?) after the election...2020-10-2923 min
Every Dollar Counts with Josh & JayShould I consider an Employee Stock Ownership Plan (ESOP)? Josh & Jay welcome Will Steih, Managing Director of Prime Capital Investment Advisor’s Tennessee office, to the studio for the 5th and final chapter of our Business Owner Strategies & Solutions (B.O.S.S.) Series, a discussion about Employee Stock Ownership Plans (ESOPs). Why should a business owner consider offering ownership in their company to its employees? What are the typically criteria needed for a successful ESOP? What are the some of the benefits of an employee owned business? Listen in to hear important concepts & solutions to consider! Key Takeaways: > One of t...2020-06-0813 min
Every Dollar Counts with Josh & JayB.O.S.S. Chapter 4: The Reverse Pink Slip
Josh & Jay welcome Will Steih, Managing Director or Prime Capital Investment Advisor’s Tennessee office, to the studio for Chapter 4 of 5 in our Business Owner Strategies & Solutions (B.O.S.S.) Series, a discussion about Non-Qualified Deferred Compensation Plans. Why should a business owner consider a N.Q. Deferred Comp Plan? Why are these plans referred to as “golden handcuffs”? A business owner has a key employee that is critical to the success of their business – is there a way to offer additional benefits to incentivize this key employee to stay loyal to their organization? Listen in to hear impor...2020-03-0511 min
Every Dollar Counts with Josh & JayB.O.S.S. Chapter 3: Defined Benefit & Cash Balance Plans Josh & Jay welcome Will Steih, Managing Director or Prime Capital Investment Advisor’s Tennessee office, to the studio for Chapter 3 of 5 in our B.O.S.S. Series, a discussion about Defined Benefit & Cash Balance Plans. Why should a business owner consider a Defined Benefit Plan? A business owner has fully funded their 401k - how can they layer a Defined Benefit Plan on top to provide additional future retirement income? How does a Defined Benefit Plan affect a business owner’s overall tax strategy & tax efficiency? Listen in to hear important concepts & solutions to consider! 2020-02-1315 min
Every Dollar Counts with Josh & JayB.O.S.S. Chapter 2: Buy /Sell AgreementsJosh & Jay welcome Will Steih, Managing Director of Prime Capital Investment Advisor’s Tennessee office, to the studio for Chapter 2 of 5 in our B.O.S.S. Series, a discussion about Buy / Sell Agreements. What does a properly structured buy / sell agreement look like? Why is an unfunded buy/sell agreement considered just a “promise”? What are the “triggers” in a buy/sell contract? Listen in to hear important concepts & solutions to consider! Key Takeaways > A Buy/Sell should be a properly structured protection plan for the involved parties. > An unfunded...2020-02-0619 minEvery Dollar Counts with Josh & JaySuccession Planning: Business Owner Strategies & Solutions Josh & Jay welcome Will Steih, Managing Director or Prime Capital Investment Advisor’s Tennessee office, to the studio for Chapter 1 of 5 in our B.O.S.S. Series, a discussion about Succession Planning. What does a properly structured Succession Plan look like? How does a business owner insure that the business will survive after they retire, either through a generational or key person transfer or an outright sale? Listen in to hear important concepts & solutions to consider! Key Takeaways > The best time to consider a Succession Plan is NOW. > An unwritten Succession Plan is just a...2020-01-3020 minEvery Dollar Counts with Josh & JayBusiness Owner Strategies & Solutions (B.O.S.S.) Campaign Kick-off! Josh & Jay welcome Will Steih, Managing Director of Prime Capital Investment Advisor’s Tennessee office, to the studio to kick off our B.O.S.S. Series, a 5 part series specifically designed for the planning needs of successful business owners. Topics include: Succession Planning, Buy/Sell Funding, Defined Benefit Plans, Non-Qualified Deferred Comp and Employee Stock Option Purchase (ESOP). We will take each one of these great topics and break it down on its own dedicated podcast! Resources Prime Capital Investment Advisors Qualified Plan Advisors Will St...2020-01-2313 min