budgeting – Wealth on the Move

Navigating Life Financially: After Graduation (Episode 20)

By Wealth on the Move | May 15, 2025

Summary: In this episode of Wealth on the Move, hosts Will Hoffman and Brynn Tarbuck discuss the essential financial strategies for recent graduates and young professionals. They cover the importance of understanding one’s financial picture, budgeting effectively using the 50/30/20 rule, and the significance of saving and investing early. The conversation also highlights the necessity of financial protection through insurance and the importance of building healthy financial habits. The hosts encourage listeners to seek financial advice early in their careers and to stay informed about their financial health as they navigate life after graduation.

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Takeaways:

Graduation is an exciting time with many opportunities ahead.
Understanding your financial picture is crucial for success.
Budgeting is essential; consider the 50/30/20 rule.
Compounding interest is a powerful tool for wealth accumulation.
It’s never too early to consult a financial advisor.
Insurance is vital for financial protection.
Healthy financial habits contribute to overall well-being.
Investing early can lead to significant long-term gains.
Stay informed and proactive about your financial health.
The journey to wealth is a marathon, not a sprint.

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The Soul of Wealth with Author Dr. Daniel Crosby, Ph.D. (Episode 12)

By Wealth on the Move | February 6, 2025

Summary: In this episode of Wealth on the Move, host Will Hoffman engages with Dr. Daniel Crosby, a behavioral finance expert, to discuss the deeper meanings of wealth beyond mere numbers. They explore the importance of understanding personal values, the impact of behavior on financial decisions, and the connection between health and wealth. Dr. Crosby emphasizes the need for individuals to take control of their financial futures by focusing on what they can control, such as their earning potential and budgeting practices. The conversation highlights the significance of aligning financial goals with personal values and the psychological aspects of wealth management. In this conversation, Will Hoffman and Daniel explore the intricate relationship between wealth, behavioral biases, and personal relationships. They discuss how parenting influences financial perspectives, the impact of societal comparisons on individual wealth, and the importance of choosing the right partner in financial decision-making. Daniel emphasizes that true wealth encompasses more than just money, highlighting the significance of relationships, purpose, and personal fulfillment. The discussion also touches on the need for younger generations to embrace individuality and take risks in their financial journeys, while recognizing that money is a source of stress that requires thoughtful management.

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Takeaways:

Wealth is not just about numbers; it’s about understanding personal values.
Behavior plays a crucial role in building and maintaining wealth.
Identifying your values can be revealed through your budgeting practices.
Health is an integral part of wealth; one cannot exist without the other.
People often focus on external factors instead of what they can control in their financial lives.
The ‘why’ behind wealth is more important than the ‘how’ or ‘what’.
Comparison to others can lead to dissatisfaction and poor financial decisions.
Tracking spending and calories can reveal hidden truths about our habits.
Financial success is deeply tied to personal control and decision-making.
We should focus on our own goals rather than societal expectations. As a parent, guiding children to think differently about wealth is crucial.
Behavioral biases can lead to poor financial comparisons with others.
Empathy and collaboration are key to human success and wealth building.
Choosing the right partner is one of the most important financial decisions.
Financial compatibility is essential in relationships.
True wealth is about more than just accumulating money.
Satisfaction comes from optimizing for true wealth, not just dollars.
Retirement can lead to unhappiness if not planned for properly.
Younger generations should bet on themselves and embrace their uniqueness.
Money management is a lifelong pursuit that requires ongoing reflection.

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Navigating Financial Independence as a H.E.N.R.Y (Episode 11)

By Wealth on the Move | January 30, 2025

Summary: In this episode of Wealth on the Move, hosts Will Hoffman and Brynn Tarbuck delve into wealth management strategies specifically tailored for high earners who are not yet financially independent, referred to as ‘Henrys’. They discuss the challenges these individuals face, such as student debt and lifestyle inflation, and provide actionable strategies for budgeting, investing, and diversifying income streams. The conversation also highlights the importance of personal development and offers real-life examples of successful individuals who have transcended their salaries to achieve financial success. The episode concludes with key takeaways and a call to action for listeners to start planning their financial futures now.

Resources:

Takeaways:

Understanding the term ‘Henry’ is crucial for financial planning.
High earners often face unique challenges that require tailored strategies.
Budgeting should be viewed as a proactive tool for financial success.
Investing early can significantly impact long-term wealth accumulation.
Diversifying income streams is essential for financial security.
Tax optimization is a critical aspect of wealth management.
Side hustles can provide additional income and opportunities for growth.
Personal development is key to advancing one’s career and financial status.
Real-life examples illustrate the potential for financial success beyond a salary.
Planning and discipline are vital for achieving financial independence.

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