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Best In Wealth PodcastCommon Retirement Myths You Shouldn’t Fall ForLet’s unpack six of the top retirement misconceptions, from whether it is okay to splurge in retirement, to the necessity of paying off your mortgage before you retire, and the real risks that retirees face beyond just a stock market crash.
With a focus on helping family stewards make smart decisions for a secure financial future, I share practical advice, real-life scenarios, and encouragement to help you confidently prepare for and enjoy your retirement years.
If you want to separate fact from fiction and build a retirement plan that truly fits your life and goals, then this episode is for...
2025-06-1323 minBest In Wealth PodcastWhy I Don’t Want You to Spend the Money in Your HSA, Ep #255What is an HSA? Who can invest in one? What can you use the money for? Why do I love them? Why shouldn’t you spend the money you save in an HSA? I will unravel all of these questions in this episode of Best in Wealth.
[bctt tweet="Why don’t I want you to spend the money you’ve saved in your #HSA? I share the surprising truth in this episode of Best in Wealth! #retirement #Investing #RetirementPlanning #FinancialPlanning " username=""]
Outline of This Episode
[1:08] It is time to plan your 2025 goals
[3:14] What is an HSA?
[4:48] How can I i...
2024-12-1319 minBest In Wealth PodcastThe Importance of Remaining Disciplined with Asset AllocationWe invest in large companies, small companies, value companies, international companies, emerging markets, etc. We practice discipline when investing in all of these asset classes. If we want 20% of a portfolio allocated to large value, we maintain that percentage.
We also practice strategic rebalancing. If something has an upward momentum, we set tolerance zones. If we go above or below those tolerances, we buy or sell. We practice discipline. Why? I share more in this episode of Best in Wealth.
[bctt tweet="Discipline in asset allocation means sticking to your plan—no matter the headlines. Find out why this matters in...
2024-11-1516 minBest In Wealth PodcastThe 3 Big Rules of InvestingI believe there are three rules that every family steward should follow when it comes to investing. In theory, these rules are “easy” to follow—but living by them is not. Secondly, these rules will not surprise you. That does not make them any less important. So in this episode of Best in Wealth, I will share what each rule is and you will discover why you have to follow them.
[bctt tweet="📣 What are my 3 BIGGEST rules for investing? Find out in episode #249 of Best in Wealth! #investing #PersonalFinance #FinancialPlanning #WealthManagement" username=""]
Outline of This Episode
[1:06] The 3 rules for...
2024-08-0221 minBest In Wealth PodcastHow Much Should You Spend on Vacations? Ep #247I am often asked how much a family should spend on vacations. While that is entirely personal, most experts recommend that 5–10% of your net income can be spent on vacations.
Many factors may change this number. Maybe you have a large family or your kids are into expensive sports. You might not have that income to spend on a lavish vacation.
But to spend any amount on a vacation, you need to budget. You cannot go into debt. So how do I do it? I will share a great strategy in this episode of Best in Wealth.
[bctt tweet="✈️ How much sh...
2024-07-0516 minBest In Wealth PodcastHow Often Should You Look at Your Investments?How often should you look at your investments? Some of my clients look at their investments every day. Some look weekly, monthly, quarterly, annually—and some never look at them. So what is my answer? It depends. After listening to this episode of Best in Wealth, you will know how often you should check on your investments (based on you).
[bctt tweet="How often should you look at your investments? Some of my clients look at their investments every day. Daily, monthly, weekly, quarterly, or annually? I share my surprising answer in this episode of Best in Wealth! #Investing #Invest #Ret...
2024-01-1923 minBest In Wealth Podcast3 Tips to Boost Financial Satisfaction in your Marriage, Ep #182According to Dixie Meyer and Renata Sledge in their article, “The Relationship Between Conflict Topics and Romantic Relationship Dynamics,” personal habits, communication style, household chores, finances, big decisions, quality time together, sex, parenting styles, and in-laws are the topics most married couples most frequently argue about.
The three biggest things? Finances, differences in parenting styles, and sex. These three things cause lowered relationship quality. But I only have the expertise to talk about finances. So in this episode of Best in Wealth, I will talk about the importance of transparency in financial decision-making and three tips to boost financial satisfaction in y...
2021-11-1223 minBest In Wealth PodcastShould You Buy the Top 10 Companies in the US? Ep #171Everyone is familiar with the top 10 companies in the US. We’re talking companies like Apple, Microsoft, Google, Facebook, etc. But should you have a large amount of money in the top ten? They have all done really well the last 5–8 years. How many of the top ten biggest companies should you have in your portfolio—if any? I share my thoughts in this episode of Best in Wealth![bctt tweet="Should you buy the top 10 companies in the US? Listen to this episode of Best in Wealth to hear my thoughts! #wealth #retirement #investing #PersonalFinance #FinancialPlanning #Retire...
2021-06-1116 minBest In Wealth PodcastThe 5 Types of Retirement Savers: Which One Are You? Ep #167Do you know what your personality type is? Do you know what kind of saver you are? Knowing these things can help you learn more about yourself—and determine what you need to do to have a successful retirement. If you’re interested in learning more about the 5 personality types—and what it means for you—listen to this episode of Best in Wealth![bctt tweet="There are 5 types of retirement savers: which one are you? Learn more in this episode of Best in Wealth! #wealth #retirement #investing #invest #PersonalFinance #FinancialPlanning #RetirementPlanning #WealthManagement" username=""]Outline of This...
2021-04-1623 minBest In Wealth PodcastTake Your Family Stewardship to the Next Level with These 5 Steps, Ep #163COVID has turned the world upside down. We are all entrenched in the depth of winter. There’s a lot of hatred permeating politics. The economy is overwhelming. It feels like the walls are caving in around you, right? But none of these things are under our control.Focusing on these things won’t make your walls stronger. You’re the one responsible for building your four walls. No one else will do it for you. You don’t want a weak house that leaks. You want a strong fortress. So how do you build your fortress? In this...
2021-02-1923 minBest In Wealth PodcastHow Do Millionaires Become Millionaires? Ep #154What do millionaires do to become millionaires? What are some of the habits that contribute to their success? In this episode of Best in Wealth, I share 25 survey answers that were conducted by Chris Hogan in his latest book, Everyday Millionaires. If you want to achieve millionaire status in your lifetime, I highly suggest you give this a listen—and implement these strategies.[bctt tweet="How Do Millionaires Become Millionaires? That’s the topic of the latest episode of THE Best in Wealth podcast. Check it out! #wealth #retirement #investing #PersonalFinance #FinancialPlanning #RetirementPlanning #WealthManagement #Millionaire" username=""]O...
2020-10-0226 minBest In Wealth PodcastWant to Refinance Your Mortgage? Here's What You NEED to Know, Ep #153I often get asked, “Should I pay off my house early?” and “Should I refinance my mortgage?” So in this episode of Best in Wealth, I answer those two questions. But to answer those questions, there are a few other questions YOU have to consider. What are they? How do they influence your decision? Which route should you take? Listen to find out![bctt tweet="When Should You Refinance Your Mortgage? In this episode of Best in Wealth, I share my thoughts on WHEN and HOW to refinance. Check it out! #wealth #retirement #investing #PersonalFinance #FinancialPlanning #RetirementPlanning #WealthMa...
2020-09-1823 minBest In Wealth PodcastHow to Execute a Mega Backdoor Roth IRA Contribution, Ep #152What is the Mega Backdoor Roth IRA Contribution? How can it be a game-changer for some high-earning individuals who are already maxing out their 401k plans? If you’re investing the maximum you can a year, think of how quickly you can hit financial freedom. If you’re passionate about investing as much of your income as you can—this is the episode for you. I explain the step-by-step process of finding out if you qualify. Don’t miss it![bctt tweet="How do you execute a Mega Backdoor Roth IRA contribution? Find out in this episode of Best...
2020-09-0422 minBest In Wealth PodcastTHE Best in Wealth Business Startup Checklist, Ep #151Do you enjoy your job? Are you working every day in a field that you’re passionate about? Or are you like me and realized that doing something you’re passionate about means starting your own business? In this episode of Best in Wealth, I share a business startup checklist. I’ll cover many of the questions you need to consider before you start a business. If you’re ready to take the next step, give this one a listen![bctt tweet="In this episode of Best in Wealth, I share my business startup checklist. It’s packed wit...
2020-08-2127 minBest In Wealth PodcastAccounts that Will Help You SAVE More, Ep #150Are you trying to figure out how to save more? Are you in debt right now? Are you motivated to get out of debt? You can use your abilities to make more and save more. But how do you accomplish that? In this episode of Best in Wealth, I share some of the accounts you can use to not only save more money—but help it grow. Financial freedom makes the stress roll off your shoulders. If you’re ready to be in that place, listen to this episode for numerous strategies and resources.[bctt tweet="What acco...
2020-08-0725 minBest In Wealth PodcastHow to Get on Track for Retirement, Ep #149Are you on track for retirement? Do you have enough money saved at this point in your life to retire or reach financial freedom by 65? One of the biggest questions I hear is: How much money do I need to save for retirement? In this episode of Best in Wealth, I do my best to answer that question using the formula Charles Farrell outlines in his book, Your Money Ratios: 8 Simple Tools for Financial Security at Every Stage of Life. You need to take actionable steps now to be prepared for your future.Outline of This Episode
2020-07-2420 minBest In Wealth PodcastWelcome to The New Normal, Ep #148When I’m about to shake someone’s hand, pat their back, or give them a hug I stop short and say to myself: “Welcome to the new normal.” The COVID-19 crisis is new to all of us. The inability to shake hands, social distancing, the necessity of wearing face masks—it’s all new.But the phrase “The New Normal” isn’t, it’s been in use for decades. An article was published on the cover of Business Newsweek on August 13th, 1979 that was titled: The Death of Equities. In the article, they called inflation the new normal. Inflatio...
2020-07-1017 minBest In Wealth Podcast3 Decisions That Could RUIN Your Retirement Plan, Ep #147Do you have a plan for retirement? Or are you just living life and allowing the everyday busyness to drown out thoughts about your future? I firmly believe you need to have a retirement plan in place. In this episode of Best in Wealth, I will explain why. I talk about 3 decisions that can impact your retirement plan—either positively or negatively.[bctt tweet="In this episode of Best in Wealth, I share 3 Decisions That Could RUIN Your Retirement Plan. Listen to hear what those are and which path you could take. #wealth #retirement #investing #PersonalFinance #FinancialPlanning #Re...
2020-06-2626 minBest In Wealth PodcastYour Investment Mix: Small Companies or Large Companies? Ep #146Do you have the right investment mix in your portfolio? Does it include a balance of large and small companies? In this episode of Best In Wealth, I talk about the differences between small and large companies, why you’d want to own either of them, what the science says, and whether or not you can time when to own a small or large company. If you’ve considered adding small companies into your investment mix, check out this episode![bctt tweet="What should you have in your investment mix? In this episode of Best in Wealth, I ta...
2020-06-1225 minBest In Wealth Podcast4 Steps to WIN with Money in Your Marriage, Ep #145Do you and your spouse fight frequently about money? Are you on completely different pages when it comes to spending money? Do you feel like you’re being heard? You should start the conversation now by having regular meetings with your spouse to discuss your financial plan. If you’re ready to win with money in your marriage, listen to this episode of Best in Wealth![bctt tweet="In this episode of Best in Wealth I share 4 Steps you can take to WIN with Money in Your Marriage! #wealth #retirement #investing #PersonalFinance #FinancialPlanning #RetirementPlanning #WealthManagement" username=""]O...
2020-05-2923 minBest In Wealth PodcastCredit Scores 101: Everything You Should Know, Ep #144This episode of the Best in Wealth podcast is a crash course: Credit Scores 101. I answer some of the questions you may have: What is a FICO score? Why do you want a good credit score? How do you improve your credit score? When should you consider closing a credit card? I break your credit score down to help you understand how it works for you and why it’s important. If your credit score has you confused, don’t miss this informative episode.[bctt tweet="In this episode of Best in Wealth I talk credit scores: Ever...
2020-05-1527 minBest In Wealth Podcast5 Tips to Prepare for a Recession, Ep #143Is it time to prepare for a recession? I predicted at the end of 2019 that one would be coming—and many argue that we are already deep in the trenches. But what is a recession? What indicates that we ARE in a recession? In this episode of Best in Wealth, I’ll share those indicators, what we can learn from past recessions, and 5 tips to prepare yourself and your family.[bctt tweet="In this episode of Best in Wealth I share 5 Tips to prepare for a recession. Don’t miss it! #wealth #retirement #investing #PersonalFinance #FinancialPlanning #RetirementPlanning #Wealth...
2020-05-0127 minBest In Wealth PodcastDissecting 3 Market Timing Strategies, Ep #142Is it ever a good time to take your money out of the market? I’m sure everyone was tempted to jump ship when they saw the S&P 500 drop to negative 37.4%. Numbers like those can make anyone reconsider their investment strategy. Will we be better off if we step out of the market for a while? In this episode of Best in Wealth, I dissect 3 market timing strategies. I’ll cover which yields the most favorable results—and land on one strategy that outperforms the rest.[bctt tweet="In this episode of Best in Wealth I dissec...
2020-04-1725 minBest In Wealth PodcastWhat you NEED to Know About the CARES Act, Ep #141The CARES Act—Coronavirus Aid, Relief, and Economic Security Act—is at the forefront of everyone’s mind right now. It’s an estimated $2 trillion relief package with over $500 billion being allocated to individual rebate checks. $500 billion is being dispersed to affected industries, $400 billion for small businesses, $300 billion for state and local government, and $150 billion for hospitals and healthcare systems.That is a LOT of money. In this episode of Best in Wealth, I aim to help you understand what affects you as an individual. I’ll cover who qualifies for a recovery rebate check and how it’s calcu...
2020-04-0329 minBest In Wealth Podcast3 Unexpected Ways to Build Wealth During the Coronavirus, Ep #140What do I mean by ‘build wealth’ while you’re quarantined at home? Many businesses are closing for the foreseeable future. Schools are closing. Parents are learning to navigate working from home while keeping their kids occupied. Our routines are being ripped apart. We are living in unusual times. What was normal yesterday won’t be today.So what do we do? How do we manage this ‘free’ time at home? In this episode of Best in Wealth, I’ll share 3 ways—that aren’t what you think—you can build wealth during the Coronavirus quarantines the world is experiencin...
2020-03-2024 minBest In Wealth PodcastWill the Coronavirus Outbreak Affect my Investments?The coronavirus is making waves around the world, inciting fear in its wake. But what will it’s true impact be on a global scale? Will it affect my investment portfolio? In this episode of Best in Wealth, my goal is to quell your fears. I’ll talk about recency bias, how past pandemics affected the stock market, and what to expect from the coronavirus.So what is the coronavirus? The official name is COVID-19. According to the CDC, current symptoms include mild to severe respiratory illness with fever, cough, and difficulty breathing. The virus originated from an a...
2020-03-0620 minBest In Wealth PodcastYou Need Retirement GoalsPodcast Intro:Do you want to finish your life well? Today in an All-Pro Dad group that I run at my kids' elementary school we talked about finishing well. I talked about trying your best but knowing you will make mistakes in any sport, instrument, or competition that you are involved in. The key is learning from the mistake and then forgetting about it so you can finish well. If you dwell on your mistakes you will not finish well. What about your life? How will you ensure that you will finish well? To finish well we need to...
2020-02-2123 minBest In Wealth PodcastBest In Wealth TrailerListen to the podcast trailer to learn exactly what you're going to hear in the Best In Wealth podcast.
2020-02-1802 minBest In Wealth PodcastSet Up a Budget in 7 StepsPodcast Intro:Scott starts the podcast by discussing the recent roller coaster ride that has happened in the global financial markets over the past couple of weeks and how the ups and downs can make many people feel out of control. Feeling out of control is often how people feel when they have a lot of debt. Scott mentions that he is teaching Dave Ramsey’s Financial Peace University (FPU) at his church and his job is to help motivate and provide encouragement to people that have a lot of debt so that soon enough these people will...
2020-02-0729 minBest In Wealth PodcastNew Retirement and Tax Opportunities provided by the 2019 SECURE ActDo you want to get a jump on the new retirement and tax opportunities provided by the 2019 Secure Act? In this episode, Scott explains some of the critical features of this new act and how we can use what we learn to plan our retirement and finances better.RETIREMENT PROVISIONS:Elimination of the stretch provision.Lifting the restriction on making contributions to a traditional Ira after age 70.5.Increase the time when you need to take RMDs from 70.5 to 72.Penalty-free $5000 out of IRA for Adoption or qualified birth.The use of life-income options, i.e. Annuity options i...
2020-01-2426 minBest In Wealth Podcast2019 Year In ReviewLet's review the 2019 market returns and then learn from it so we can crush 2020 and beyond.
2020-01-1032 minBest In Wealth PodcastThe Number 1 Reason You Won’t Reach Your GoalsDid you set your 2020 goals? What is your process for setting goals? In today's episode Scott is going to show you how to set and crush your 2020 goals and be the family steward you always wanted to be.
2020-01-0421 minBest In Wealth PodcastA Recession is Coming!A Recession is coming! Find out why a recession is coming and protect yourself with Scott's eight-point plan.
2019-11-0921 minBest In Wealth PodcastAre Value Stocks Dead?The theoretical support for value investing islongstanding—paying a lower price means a higherexpected return. However, realized returns are volatile.A 10-year negative premium, while not expected, isnot unusual.But history also tells us that changing course aftera disappointing spell for known premiums can leadto missed opportunities. When those drivers ofoutperformance have turned around in the past,steadfast investors have been rewarded. A key tosuccessful long-term investing is sticking with your...
2019-10-2619 minBest In Wealth Podcast3rd Quarter 2019 Stock Market ReviewCLICK Here to Read 3rd Quarter 2019 Stock Market Re
2019-10-1120 minBest In Wealth PodcastThe ONE Thing You Need to Teach Your Adult Children!Do you have adult children? What do they actually know about money? There is ONE thing they need to know. Listen today and find out. Click HERE and read the Forbes article Scott was quoted in last week: "How To Become a Millionaire In Your 30's"
2019-09-2718 minBest In Wealth PodcastA Tale of Two DecadesThe first decade of the 21st century, and the second one that’s drawing to a close, have reinforced for investors some timeless market lessons: Returns can vary sharply from one period to another. Holding a broadly diversified portfolio can help smooth out the swings. And focusing on known drivers of higher expected returns can increase the potential for long-term success. Having a sound strategy built on those principles—and sticking to it through good times and bad—can be a rewarding investment approach.
2019-09-1419 min2019-08-1723 min2019-08-0323 minBest In Wealth Podcast2nd Quarter 2019 Stock Market Review Click Here to view the 2nd Quarter 2019 Stock Market Review
2019-07-2218 min2019-06-2823 min2019-05-3122 minBest In Wealth PodcastMaking the Most of Your 401(k)Do you have doubts about how your 401(k) is invested? Listen now find out how you should be allocating your 401(k) and how much you should be investing.
2019-05-1821 minBest In Wealth PodcastThe NFL Draft & The Stock MarketDo you want to know how the NFL draft and the Stock Market are related? Listen now to find out.
2019-04-2820 minBest In Wealth PodcastQ1 2019 Stock Market ReviewCLICK HERE to read the First Quarter 2019 Stock Market Review
2019-04-1322 min2019-03-2927 min
Best In Wealth Podcast119 – Beware of Investment (and diet) FadsInvestment fads are nothing new. When selecting strategies for their portfolios, investors are often tempted to seek out the latest and greatest investment opportunities. Over the years, these approaches have sought to capitalize on developments such as the perceived relative strength of particular geographic regions, technological changes in the economy, or the popularity of different natural resources. But long-term investors should be aware that letting trends influence their investment approach may be counterproductive. As Nobel laureate Eugene Fama said, “There’s one robust new idea in finance that has investment implications maybe every 10 or 15 years, but there’s a market...
2019-02-2317 minBest In Wealth Podcast118 – Dave Ramsey’s Baby StepsDave Ramsey’s 7 Baby Steps
Save up $1,000 to start an emergency fund.
Pay off all non-mortgage debt using the debt snowball.
Save up 3 to 6 months of expenses to complete your emergency fund.
Invest 15% of household income into Roth IRAs and pre-tax retirement accounts.
Work on college funding for children.
Pay off your mortgage early.
Build wealth and give!
2019-02-0228 minBest In Wealth Podcast117 – 2018 Stock Market ReviewCLICK Here to read the 2018 Annual Market Review
2019-01-0724 minBest In Wealth Podcast116 – Why is the Stock Market Freaking Out?Why is the stock market freaking out? Is the stock market freaking out more or less than the average year? Find out the answers to these two questions and more in episode 116 of Best In Wealth.
2018-12-0719 minBest In Wealth Podcast115 – Midterm Elections: What Do They Mean for Markets?CLICK HERE to read - Midterm Elections—What Do They Mean for Markets
It’s almost Election Day in the US once again. For those who need a brief civics refresher, every two years the full US House of Representatives and one-third of the Senate are up for reelection.
While the outcomes of the elections are uncertain, one thing we can count on is that plenty of opinions and prognostications will be floated in the days to come. In financial circles, this will almost assuredly include any potential for perceived impact on markets. But should long...
2018-11-0222 minBest In Wealth Podcast114 – 3RD Quarter 2018 Market Summary….Plus Recent VolatilityCLICK HERE for Quarterly Market Review Q3 2018
2018-10-1320 minBest In Wealth Podcast113 – Taking Initiative in your Career CornerstoneDo you love your job? If so, great! If you don’t like your job, then listen today and become unstuck.
2018-09-2920 minBest In Wealth Podcast112 – Mentally Preparing for RetirementAre you mentally ready to retire? Being mentally prepared for retirement is just as important as being financial prepared. Today Scott discuss for things to think about to help you become mentally prepared for the best season of your life.
2018-09-1522 minBest In Wealth Podcast111 – HOW MUCH IS MY ANNUITY COSTING ME?Variable annuity fees fall into the following five categories.
Mortality expenses (M&E)This is a fee charged by the insurance company to provide you with a death benefit (often just a guarantee to pay out to your beneficiaries at least what was put in). This variable annuity fee can range from .50 – 1.5% of the policy value per year.
Administrative expensesMany variable annuity policies have a separate administrative fee to cover the cost of mailings and ongoing service. This fee can range from .10 - .30% of the policy value per year.
Investment expense ratioInside a var...
2018-08-3126 minBest In Wealth Podcast110 – To Roth or NOT to RothTune in today to see if it is in your best interest to start investing or converting your tax-deferred money into your Roth IRA or Roth 401(k).
2018-08-1825 min2018-08-0319 minBest In Wealth Podcast108 – 2nd Quarter 2018 Market UpdateCLICK HERE for Quarterly Market Review Q2 2018
2018-07-2219 minBest In Wealth Podcast107 – The Family Stewardship Approach to Investing (part 1)We have discussed the importance of formulating an investment strategy that is informed by financial science. But a solid market philosophy and strong research are not enough. Good ideas are not enough. An investment manager must put those ideas to work each day in a competitive market.
This requires an approach that dynamically integrates the research with portfolio structure and implementation. This is where science meets investing.
We apply a different investment approach. It is informed by financial science and the view that market prices reflect all available information. We also believe that different securities...
2018-07-0724 minBest In Wealth Podcast106 – The Pros (and cons) of Index Investing[smart_track_player url="http://traffic.libsyn.com/bestinwealth/BIW105.mp3" title="105 - The Results of Conventional Investing" image="http://www.bestinwealth.com/wp-content/uploads/2015/08/Best-In-Wealth-Podcast-Cover-150x150.jpg" color="#FE4504" social="true" social_twitter="true" social_facebook="true" social_gplus="true" social_email="true" ]
Indexing offers a number of investment benefits over a conventional approach. Broad-based indexes offer better diversification, have lower fees, and follow a more transparent investment process, which means investors have a clearer idea of what they are getting.
The problem with indexing is that the commercial index provider determines the stocks...
2018-06-2327 minBest In Wealth Podcast105 – The Results of Conventional InvestingCLICK HERE to view "The Results of Conventional Investing"
Mutual fund research shows that conventional investing has low odds of success.
Over the 15-year period ending in 2017, only 14% of stock managers and 13% of bond managers survived and outperformed their benchmarks. Said another way, 86% of stock managers and 87% of the bond managers who started the 15-year period underperformed their market index. About half of the stock and bond managers did not even survive the 15-year period.
Some investors try to improve these odds by picking managers who have outperformed in the past. There’s a...
2018-06-1626 minBest In Wealth Podcast104 – What is Conventional Investing?THE FOUR TYPES OF CONVENTIONAL INVESTING
PREDICT THE FUTURE
The most common approach is based on prediction and forecasting. Methods include:
Picking stocks expected to perform well in the future,
Moving in and out of industry sectors, or
Attempting to time the market
These methods are based on trying to predict the future direction of the economy, the stock market, or an individual stock. This conventional approach assumes that someone has a crystal ball.
Many people think this is the key to successful investing. In fact, when people meet financial...
2018-06-0824 minBest In Wealth Podcast103 – How Do I Access the Power of the Stock MarketThe first step to access the power of the maket is to retrain your thinking. In this episode Scott explains in detail the one thing you need before accessing the power of the stock market.
2018-06-0325 minBest In Wealth Podcast102 – Diversify Like a Family StewardDo you know what the four levels of family steward diversification are? Do you know if you are diversified like a family steward. CLICK HERE to view The Case for Global Diversification
2018-05-2618 minBest In Wealth Podcast101 – Investing PerspectiveDo you want to have a successful investment experience? It all starts with investing perspective. Click below and download the chart and listen to episode 101 for stock market perspective.
Click Here for a chart about stock market Perspective
2018-05-2022 minBest In Wealth Podcast100 – Should I buy Bitcoin?To Bit or Not to Bit: What Should Investors Make of Bitcoin Mania?
December 2017
Bitcoin and other cryptocurrencies are receiving intense media coverage, prompting many investors to wonder whether these new types of electronic money deserve a place in their portfolios.
Cryptocurrencies such as bitcoin emerged only in the past decade. Unlike traditional money, no paper notes or metal coins are involved. No central bank issues the currency, and no regulator or nation state stands behind it.
Instead, cryptocurrencies are a form of code made by computers and stored in a...
2018-01-2125 minBest In Wealth Podcast099 – 2017 Market ReviewTune in today for Scott's 2017 market review.
Click here for Q4 & 2017 Yearly Market Review
2018-01-1019 minBest In Wealth Podcast098 – Catchphrase InvestingThe financial media is drawn to catchphrases, acronyms, and buzzwords that can be sold as the new thing. FAANG (Facebook, Apple, Amazon, Netflix, and Google) is the latest of these. But does this constitute an investment strategy? For journalists, commentators, and marketers, acronyms like FAANG...
2017-12-1516 minBest In Wealth Podcast097 – Nine Key Questions for the Long-Term Investor…..and Being Thankful YOU Know the AnswerThere are nine key questions every long-term investor should know. I bet most listeners know the answer to some or most of them. But the really confident investor knows the answer to all nine questions.
2017-11-2522 minBest In Wealth Podcast096 – 3 Ways to MAKE Your Money GoalDo you stuggle with money goals? Do want to be finacially fit? Let me help you achieve your money goal with these three steps.
2017-11-1016 minBest In Wealth Podcast095 – HELP! Is My 401(k) Going to Tank?Today I talk about the three ways to protect your 401(k) during the next market downturn. Want to know your risk number? Do you wonder if your risk number matches the risk number of your 401(k) or IRA? Send an email to scott@bestinwealth.com and ask to take the online risk number assessment. This simple step is Fun, FREE and may just save your financial life.
2017-10-2824 minBest In Wealth Podcast094 – 3rd Quarter 2017 Stock Market ReviewToday we go over the 3rd Quarter 2017 Market Review.
CLICK HERE FOR THE - Quarterly Market Review Q3 2017
2017-10-1319 minBest In Wealth Podcast093 – Risk definedThis is part 9 of a 10 part series about behavioral finance.
2017-10-0618 minBest In Wealth Podcast092 – Diversification Means having to Say Your SorryThis is part 8 of a 10 part series about behavioral finance.
2017-09-2319 minBest In Wealth Podcast091 – Excess Is Never PermanentThis is part 7 of a 10 part series about behavioral finance.
2017-09-0821 minBest In Wealth Podcast090 – Forecasting is for WeathermenThis is part 6 of a 10 part series about behavioral finance.
2017-08-2621 minBest In Wealth Podcast089 – Your Life is the Best BenchmarkThis is part 5 of a 10 part series about behavioral finance.
2017-08-1221 minBest In Wealth Podcast088 – You Are Not That SpecialThis is part 4 of a 10 part series about behavioral finance.
[00:00:00] But before we get started, I want to let you know something that went down last week.
[00:00:06] My dad and I attended the Donald Driver Hall of Fame induction ceremony and for those of you who don't know, I'm from Wisconsin. I have a deep love for the Green Bay Packers. Do not hold that against me. Donald Driver was a great wide receiver and he was being inducted into the Hall of Fame. The Packers have this big party to celebrate. Tickets ar...
2017-07-2920 minBest In Wealth Podcast087 – 2nd Quarter 2017 Stock Market ReviewCLICK HERE TO READ THE Q2 2017 Stock Market Review
2017-07-2218 minBest In Wealth Podcast086 – If You’re Excited, it’s a Bad IdeaThis is part 3 of a 10 part series about behavioral finance.
2017-07-1418 minBest In Wealth Podcast085 – Trouble is OpportunityThis is part 2 of a 10 part series about behavioral finance.
2017-07-0819 minBest In Wealth Podcast084 – You Control What Matters MostThis is the start of a 10 part season on behavioral finance. Do not miss the kickoff episode and take the first step in shrinking the behavior gap to increase your investment returns.
2017-07-0122 minBest In Wealth Podcast083 – 7 Steps to Financial PeaceDo you have debt? If so, are following the steps from the authority on getting out of debt - Dave Ramsey. Today we discuss these steps within the context of a listener's situation.
2017-06-2425 minBest In Wealth Podcast082 – Quantifying the Value of Financial Planning AdviceWhat is the true value of financial planning advice? When I buy a new coat or car, I can touch and feel my new purchase. I can visualize exactly what my investment is. We can't touch or feel financial planning advice. Today we will attempt to quantify the value of financial planning advice.
2017-06-1028 minBest In Wealth Podcast081 – Are You Hands-On or Hands-Off when it comes to investing?The first step to investing is figuring out your investor personality. Tune in today and read the article below to determine if you are a hands-on or hands-off investor.
Are You a Hands-On or Hands-Off Investor?
How to Determine the Best Approach to Investing for Retirement
article by Scott Spann
Choosing your investment options in a 401(k) or IRA can be a challenge. This is because we do not all possess the investing knowledge and confidence to make an informed decision and the investing process itself can be emotional and test o...
2017-06-0317 minBest In Wealth Podcast080 – 6 Steps to Buying a New CarIs buying a new car a fun experience? Most people do not enjoy the process, and they rarely leave the dealership thinking they got a good deal. Follow the 6 steps in today's podcast, and you will not only enjoy the experience, but you will also get you BEST DEAL possible on your next new car purchase!
2017-05-2720 minBest In Wealth Podcast079 – This is Why You Should Never RetireDo you have the ability to do the things that make you happy and not what makes you money? If so, it's time to start doing the things that make us happy. Tune in today to see if you are ready!
2017-05-1818 minBest In Wealth Podcast078 – The Stock Market Hates Uncertainty“The market hates uncertainty” has been a common enough saying in recent years, but how logical is it? There are many different aspects to uncertainty, some that can be measured and some that cannot. Uncertainty is an unchangeable condition of existence. As individuals, we can feel more or less uncertain, but that is a distinctly human phenomenon. Rather than ebbing and flowing with investor sentiment, uncertainty is an inherent and ever-present part of investing in markets. Any investment that has an expected return above the prevailing “risk-free rate” (think T-Bills for US investors) involves trading off certainty for a potentia...
2017-05-0621 minBest In Wealth Podcast077 – 5 Things that Stress You Out the Most About MoneySeventy percent of people indicate that the number one cause of stress in life is money. in today's episode, Scott outlines five things that stress people out the most about money.....and what you need to about it.
2017-04-2224 minBest In Wealth Podcast076 – 3 Questions You Must Ask YourselfIt is tough for most people to dig deep to see what they want to get out of life. What do you want to do? What do you want to accomplish? How do you want to be remembered? What relationships are most important to you. Join Scott in today's episode as he asks the three most important questions you must ask yourself that will help uncover what you most important cornerstones are in life.
2017-04-1524 minBest In Wealth Podcast075 – 1st Quarter 2017 Stock Market ReviewCLICK HERE to get Q1 2017 Stock Market Review
2017-04-0719 minBest In Wealth Podcast074 – 8 Reasons You Won’t Plan For Your FutureMost people spend more time planning a family vacation than planning for retirement. Today I will give you the top 8 reasons you won't plan for retirement. I will also explain why it is never too late and why you should start planning now. It's your life, plan it well!
2017-03-2419 minBest In Wealth Podcast073 – Goals Based Financial PlanningThere are two philosophies when it comes to financial planning - cash flow based financial planning and goals-based financial planning. At Best In Wealth, we like the goals-based financial planning. Listen today and learn about both philosophies and why Scott things goals based is the better route and start your path to financial freedom today.
2017-03-1725 minBest In Wealth Podcast072 – Investment Shock AbsorbersEver ridden in a car with worn-out shock absorbers? Every bump is jarring, every corner stomach-churning, and every red light an excuse to assume the brace position. Owning an undiversified portfolio can trigger similar reactions.
In a motor vehicle, the suspension system keeps the tires in contact with the road and provides a smooth ride for passengers by offsetting the forces of gravity, propulsion, and inertia. You can drive a car with a broken suspension system, but it will be an extremely uncomfortable ride and the vehicle will be much harder to control, particularly in difficult conditions...
2017-03-1019 minBest In Wealth Podcast071 – The Dynamic Index Fund ApproachThe family stewardship to investing starts with the dynamic index fund approach to investing. Listen today if you are a family steward.
2017-03-0322 minBest In Wealth Podcast070 – The Index Fund Approach: Pros & ConsIn this episode, we talk about the pros and cons to index funds.
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2017-02-2425 minBest In Wealth Podcast069 – The Mutual Fund LandscapeClick Here to Download The US Mutual Fund Landscape 2016 Report
2017-02-1825 minBest In Wealth Podcast068 – The Best Way to Invest for Retirement IncomeHow will you get income once you are in retirement? Do you have a plan? Tune in and find out the best way to accomplish the goal. Special thanks to Sergey Sanco for his article related to this episode.
When it comes to tapping savings in retirement, many retirees fall into what I call the Income Investing Trap. They tilt their portfolios almost exclusively toward “income” investments—dividend stocks, high-yield bonds, annuities, etc.—figuring this is the best way to assure a safe supply of spending cash throughout retirement.
Big mistake. Not only can that approach can...
2017-02-1116 minBest In Wealth Podcast067 – 2016 Lessons to Save Your Financial LifeEvery year brings its share of surprises. But how many of us could have imagined that 2016 would see the Chicago Cubs win the World Series, Bob Dylan receive the Nobel Prize in Literature, Donald Trump elected president, and the Dow Jones Industrial Average close out the year a whisker away from 20,000?
The answer is very few—a lesson that investors would be wise to remember.
At year-end 2015, financial optimists seemed in short supply. Not one of the nine investment strategists participating in the January 2016 Barron’s Roundtable expected an above-average year for stocks. Six expected US m...
2017-02-0322 minBest In Wealth Podcast066 – Which is More Important: Wealth or Health?Tune in today to find out what is more important: Wealth or Health?
2017-01-2819 min