Tag: Financial Advisor

Your 2024 Last-Chance Financial Planning Checklist (Episode 5)

Your 2024 Last-Chance Financial Planning Checklist (Episode 5)

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Summary: In this episode, hosts Will Hoffman and Brynn Tarbuck discuss essential year-end financial planning strategies. They emphasize the importance of consulting with a CPA, reviewing tax situations, and preparing for the upcoming year. The conversation also touches on investment strategies, insurance reviews, and considerations for young professionals entering the workforce. As the year comes to a close, they encourage listeners to reflect on their financial goals and make necessary adjustments to ensure a prosperous new year.

Takeaways:

  • Schedule a discussion with your CPA before year-end.
  • Review your income and tax situation as the year closes.
  • Max out retirement contributions if possible.
  • Consider Roth IRA conversions based on your income.
  • Revisit your investment goals and strategies regularly.
  • Ensure your insurance coverage is adequate and up-to-date.
  • Discuss any major life changes with your financial advisor.
  • Utilize year-end checklists to stay organized.
  • Engage in financial planning early in your career.
  • Reflect on your financial goals as the new year approaches.

Resources:

  1.  2024 Last-Chance Financial Planning Checklist
  2.  Contact Us Today!
  3. Will’s Episode with Lizette Cloete, Caring for a loved one with dementia can be overwhelming, and financial planning often gets overlooked. Have you considered how to manage finances while providing care?Insights from Will Hoffman of https://www.hoffman-wealthmanagement.com/ emphasized the complexities involved in managing assets for loved ones and the transformative impact of estate planning, urging us to prioritize legal documentation such as powers of attorney to streamline decision-making processes.

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Understanding Lifestyle Creep: How to Keep Your Spending in Check and Build Wealth (Episode 2)

Understanding Lifestyle Creep: How to Keep Your Spending in Check and Build Wealth (Episode 2)

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Summary In this episode of Wealth on the Move, hosts Will Hoffman and Brynn Tarbuck discuss the concept of lifestyle creep, particularly how increased income can lead to increased spending. They emphasize the importance of financial planning, aligning spending with personal values, and preparing for potential financial setbacks. The conversation also covers strategies to combat lifestyle creep, the significance of insurance, and the necessity of making informed financial decisions. The hosts encourage listeners to take action against overspending and to plan for a financially secure retirement.

Takeaways

  • Lifestyle creep occurs when income increases lead to increased spending.
  • It’s important to enjoy your money while also saving for the future.
  • Financial independence requires a balance between spending and saving.
  • Understanding your values is crucial in financial decision-making.
  • Debt can become a significant issue if lifestyle spending is not controlled.
  • Having a financial plan helps in managing cash flow effectively.
  • Insurance should be updated to match your financial situation.
  • Acknowledging overspending is the first step to addressing it.
  • Long-term planning is essential for a secure retirement.
  • It’s never too late to start a financial plan.

Get your copy of “The Great Spending Balance” by clicking the link here: https://www.fmgwebsites.com/af1def90-2c76-4c9d-a296-95eeb9c6b878/the-great-spending-balance-love-your-life-today-whilelove-your-life-today-while-saving-for-tomorrow

 

 

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Welcome to Wealth on the Move- A Podcast with Will Hoffman on Keeping Your Wealth In Motion: Meet the Hosts

Welcome to Wealth on the Move- A Podcast with Will Hoffman on Keeping Your Wealth In Motion: Meet the Hosts

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In the first ever episode of Wealth on the Move, hosts Will Hoffman and Brynn Tarbuck discuss the transition from Will’s previous podcast format to a new focus on wealth management for busy families and active retirees. They emphasize the importance of client-centric financial advice, the evolution of the wealth management industry, and the role of technology in enhancing client interactions. The conversation also touches on personal insights, future aspirations, and a light-hearted rapid-fire question segment that reveals more about the hosts’ personalities.

Takeaways

  • Wealth on the Move focuses on busy families and active retirees.
  • Client-centric wealth management is crucial for success.
  • The evolution of the wealth management industry has improved client outcomes.
  • Technology allows for more flexible client interactions.
  • Personal experiences shape the approach to wealth management.
  • Building relationships with clients is key to effective financial advice.
  • The podcast aims to simplify financial concepts for listeners.
  • Understanding clients’ goals is essential for effective planning.
  • The hosts share personal anecdotes to connect with the audience.
  • Continuous learning and adaptation are vital in the financial industry.

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Mindfulness and Core Values: Its Impact on Financial Well-Being and Life with Michele Walter (Ep. 24)

Mindfulness and Core Values: Its Impact on Financial Well-Being and Life with Michele Walter (Ep. 24)

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With constant changes and external pressures, finding our true purpose in life, establishing inner peace, and maintaining financial alignment can seem like an overwhelming task.

What changes can Gen X’ers make to find true balance?

In this episode of the Monetary Mixtape podcast, Will Hoffman chats with Michele L. Walter,  certified professional coach, mindfulness meditation teacher, and owner of Life From the Summit. 

Michele shares her personal journey from being a lawyer to a mindfulness coach and how mindfulness meditation transformed her life. Michele explores the power of mindfulness meditation, finding gratitude in challenging situations, and how to align financial decisions with personal values. 

Michele discusses: 

  • Her journey to mindfulness and coaching
  • The concept of mindfulness and the importance of awareness and compassion
  • Her personal experience as a Gen X’er and how reaching the age of 40s and 50s often leads to existential questions about our purpose in life
  • Where expectations come from and the difference between personal desires and societal pressures
  • The importance of core values and purpose 
  • The value of making small steps in various aspects of life
  • And more!

Resources:

Connect with Will Hoffman: 

Connect with Michele Walter:

About Our Guest: 

Michele L. Walter is the founder of Life From the Summit. She is an Associate Certified Coach (ICF), Certified Professional Coach (iPEC), Certified Mindful Meditation Teacher (SoundsTrue), Certified NUSHU Facilitator, seasoned litigator, 3-time Ironman, runner, mountaineer, and dog mom living in the beautiful Colorado mountains.

About Our Host: 

Will Hoffman is a financial advisor and the Founder of Hoffman Wealth Management, a firm dedicated to helping professionals create wealth plans that revolve around their financial goals. Will has 20 years of experience in the financial services industry and is passionate about becoming his client’s most trusted financial ally. 

 

Michele Walter and Life From the Summit are not affiliated with or endorsed by LPL Financial and Hoffman Wealth Management.

Securities offered through LPL Financial, Member FINRA/SIPC. Investment advice offered through Private Advisor Group, a registered investment advisor. Private Advisor Group and Hoffman Wealth Management are separate entities from LPL Financial. All performance referenced is historical and is no guarantee of future results. All indices are unmanaged and may not be invested into directly.

The LPL Financial registered representative(s) associated with this website may discuss and/or transact business only with residents of the states in which they are properly registered or licensed.  No offers may be made or accepted from any resident of any other state.

 

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How to Maximize Your Retirement Savings and Minimize Taxes Using Roth IRAs and Conversions (Ep.22)

How to Maximize Your Retirement Savings and Minimize Taxes Using Roth IRAs and Conversions (Ep.22)

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Wondering what role Roth IRAs and Roth Conversations play in your retirement plan? 

In this episode of the Monetary Mixtape podcast, Will Hoffman discusses the importance of understanding Roth IRAs and Roth IRA conversions for retirement planning. He explains the benefits of Roth IRAs, contribution limits, and the five-year waiting period as it pertains to those approaching retirement (Gen X) and those currently enjoying their golden years.

He also touches on the possibility of increasing taxes and the advantages of having a tax-free bucket of money!

Gain insightful knowledge about: 

  • The role Roth IRAs and Roth conversions play in your retirement plan
  • How Gen Xers can effectively diversify their investment portfolio to mitigate risk within retirement savings
  • The difference between tax planning and tax filing – where to obtain effective, strategic advice about tax planning during your career and retirement
  • And more

Connect with Will Hoffman: 

About Our Host: 

Will Hoffman is a financial advisor and the Founder of Hoffman Wealth Management, a firm dedicated to helping professionals create wealth plans that revolve around their financial goals. Will has 20 years of experience in the financial services industry and is passionate about becoming his client’s most trusted financial ally. 

Securities offered through LPL Financial, Member FINRA/SIPC. Investment advice offered through Private Advisor Group, a registered investment advisor. Private Advisor Group and Hoffman Wealth Management are separate entities from LPL Financial. All performance referenced is historical and is no guarantee of future results. All indices are unmanaged and may not be invested into directly.

The LPL Financial registered representative(s) associated with this website may discuss and/or transact business only with residents of the states in which they are properly registered or licensed.  No offers may be made or accepted from any resident of any other state.

The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. To determine which strategies or investments may be suitable for you, consult the appropriate qualified professional prior to making a decision.

This information is not intended to be a substitute for specific individualized tax advice. We suggest that you discuss your specific tax issues with a qualified tax advisor.

A Roth IRA offers tax deferral on any earnings in the account. Qualified withdrawals of earnings from the account are tax-free. Withdrawals of earnings prior to age 59 ½ or prior to the account being opened for 5 years, whichever is later, may result in a 10% IRS penalty tax. Limitations and restrictions may apply.

Traditional IRA account owners have considerations to make before performing a Roth IRA conversion. These primarily include income tax consequences on the converted amount in the year of conversion, withdrawal limitations from a Roth IRA, and income limitations for future  contributions to a Roth IRA. In addition, if you are required to take a required minimum distribution (RMD) in the year you convert, you must do so before converting to a Roth IRA.

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Financial Mistakes for Gen X to Avoid (Ep. 21)

Financial Mistakes for Gen X to Avoid (Ep. 21)

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Join Will Hoffman, AIF as he details eight financial blunders that many Gen Xers encounter and provides valuable guidance on how to steer clear of them.

Listen as Will touches on: 

  • The importance of setting clear goals and aligning them with your financial plan
  • How to make investment decisions based on long-term goals rather than short-term market fluctuations
  • The significance of implementing a tax planning strategy beyond the current year to minimize future tax burdens
  • Insights into the importance of saving and investing outside of retirement accounts to pursue financial independence
  • And more

Resources:

Connect with Will Hoffman: 

About Our Host: 

Will Hoffman is a financial advisor and the Founder of Hoffman Wealth Management, a firm dedicated to helping professionals create wealth plans that revolve around their financial goals. Will has 20 years of experience in the financial services industry and is passionate about becoming his client’s most trusted financial ally. 

Securities offered through LPL Financial, Member FINRA/SIPC. Investment advice offered through Private Advisor Group, a registered investment advisor. Private Advisor Group and Hoffman Wealth Management are separate entities from LPL Financial. All performance referenced is historical and is no guarantee of future results. All indices are unmanaged and may not be invested into directly.

This material was created for educational and informational purposes only and is not intended as ERISA, tax, legal or investment advice. If you are seeking investment advice specific to your needs, such advice services must be obtained on your own separate from this educational material.

The LPL Financial registered representative(s) associated with this website may discuss and/or transact business only with residents of the states in which they are properly registered or licensed.  No offers may be made or accepted from any resident of any other state.

 

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How to Navigate the Founders Exit Paradox with Jerome Myers (Ep. 20)

How to Navigate the Founders Exit Paradox with Jerome Myers (Ep. 20)

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Are you a business owner contemplating an exit?

In this episode, Jerome Myers, PE, MBA, PMP, and business exit coach shares his journey from corporate America to specializing in helping business owners face the challenges associated with exiting their business.

Jerome discusses: 

  • The “Six Centers of Doubt” that business owners experience
  • How his framework helps individuals successfully transition away from corporate America 
  • The importance of focusing on the human element of a profession rather than the financial benefits
  • And more

Connect with Will Hoffman: 

Connect with Jerome Myers:

About Our Guest: 

Jerome Myers is an award-winning engineer, investor, mentor, and business strategist who helps founders navigate their Exit Paradox through his masterminds and coaching programs.  

 Prior to leaving his corporate leadership position, Jerome built a $20 million, 175-person division of a Fortune 550 company from scratch.  He now uses his project management, engineering and business expertise to advise business leaders on key areas such as: leadership strategy, process improvement, sales and data analytics in real estate, financial services, business services, and health care to help his clients double their revenue, time off and charitable giving.

Jerome is also a general partner in a multifamily real estate portfolio and serves on the North Carolina Agricultural and Technical State University Entrepreneurship Advisory Board.

In 2022, Jerome won the prestigious alumni achievement award for the North Carolina A and T State University College of Engineering where a fully endowed scholarship has been created in his family’s name.  A noted media expert, Jerome has been featured in Business Insider, Black Enterprise, Entrepreneur, Biznow, CBS, ABC and Fox.

 Jerome has interviewed numerous newly exited operators (NEOs) on his top-ranked Dreamcatchers podcast which provides inspiration, education and direction to his audience of founders who are building companies to sell after they exit the “Matrix”.

Jerome Myers is not affiliated with or endorsed by LPL Financial and Hoffman Wealth Management.

About Our Host: 

Will Hoffman is a financial advisor and the Founder of Hoffman Wealth Management, a firm dedicated to helping professionals create wealth plans that revolve around their financial goals. Will has 20 years of experience in the financial services industry and is passionate about becoming his client’s most trusted financial ally. 

Securities offered through LPL Financial, Member FINRA/SIPC. Investment advice offered through Private Advisor Group, a registered investment advisor. Private Advisor Group and Hoffman Wealth Management are separate entities from LPL Financial. All performance referenced is historical and is no guarantee of future results. All indices are unmanaged and may not be invested into directly.

The LPL Financial registered representative(s) associated with this website may discuss and/or transact business only with residents of the states in which they are properly registered or licensed.  No offers may be made or accepted from any resident of any other state.

 

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What It’s Like to Lose a Parent with Eve Simon of the GenX Stories Podcast (Ep.19)

What It’s Like to Lose a Parent with Eve Simon of the GenX Stories Podcast (Ep.19)

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No one knows the pain and suffering of losing a parent until it happens to them.

In today’s episode, Eve Simon, founder and co-host of the GenX Stories Podcast joins Will to not only share her love of being a member of the best generation there is but also what it’s like to lose a parent.

Listen as she tells of her close relationship with her father, how his death impacted her role as an only child, and how grateful she is to him for having his finances in order prior to his death.

Reminisce about your childhood, while facing truths about your present as Eve discusses:

  • How so many Gen Xers are ‘sandwiched’ between looking after children and their aging parents, and what that means for their lifestyle and relationships
  • The parallel experiences shared by Gen Xers across different regions and backgrounds
  • How attending her 25th college reunion spurred the GenX Stories Podcast
  • The importance of having close-knit relationships to help you through ‘mid-life’ experiences like divorce, or the death of a parent
  • Why you need to have a conversation surrounding estate planning with your folks 
  • And more

Resources:

Connect with Eve Simon:

About Our Guest: 

A lapsed Philosophy major with an MFA in theatrical lighting design and 26 years of experience in the web design industry, Eve is the executive producer & host of GenX Stories. By day, she is the founder & chief storyteller at Eve Simon Creative but will always be an 80’s Madonna girl at heart and may or may not be obsessed with Ampersands. 

Eve Simon and GenX Stories Podcast are not affiliated with or endorsed by LPL Financial and Hoffman Wealth Management.

Connect with Will Hoffman: 

About Our Host: 

Will Hoffman is a financial advisor and the Founder of Hoffman Wealth Management, a firm dedicated to helping professionals create wealth plans that revolve around their financial goals. Will has 20 years of experience in the financial services industry and is passionate about becoming his client’s most trusted financial ally. 

Securities offered through LPL Financial, Member FINRA/SIPC. Investment advice offered through Private Advisor Group, a registered investment advisor. Private Advisor Group and Hoffman Wealth Management are separate entities from LPL Financial. All performance referenced is historical and is no guarantee of future results. All indices are unmanaged and may not be invested into directly.

The LPL Financial registered representative(s) associated with this website may discuss and/or transact business only with residents of the states in which they are properly registered or licensed.  No offers may be made or accepted from any resident of any other state.

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Understanding Behavioral Finance with Alice Heath (Ep. 18)

Understanding Behavioral Finance with Alice Heath (Ep. 18)

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Let’s dive into the psychology of behavioral finance!

Join Will Hoffman as he speaks with Alice Heath, a national accounts manager at Horizon Investments and a BFA® (behavioral financial advisor), who shares her knowledge of how psychology and emotions impact financial decisions. 

Alice explains how behavioral finance differs from classical finance, and why it’s become increasingly popular. She also talks about how bad investor behavior can negatively affect long-term performance and why taking a hands-off approach and trusting the process is important.

Listen and learn about:

  • The psychology behind investing and spending
  • How you can pass good financial behavior habits on to others
  • The importance of taking a hands-off approach and trusting the process
  • How Gen Xers can benefit from a self-reliant and results-oriented mindset
  • And more!

Resources:

Connect with Will Hoffman: 

Connect with Alice Heath:

About Our Guest: 

During her tenure in the financial services industry, Alice Heath has held several positions with varying responsibilities and titles, including associate, specialist, manager, and director. However, she takes the most pride in her unofficial titles as a friend, mentor, and leader. As a leader, Alice adopts a hands-on approach and believes that actions speak louder than words. Alice is passionate about helping and serving others, and this passion drives their performance. She finds fulfillment in meaningful relationships and achieving something greater than themselves. She enjoys working with teams and adapting their leadership style to the needs of the group to ensure overall success.

Alice Heath and Horizon Investments are not affiliated with or endorsed by LPL Financial or Hoffman Wealth Management.

About Our Host: 

Will Hoffman is a financial advisor and the Founder of Hoffman Wealth Management, a firm dedicated to helping professionals create wealth plans that revolve around their financial goals. Will has 20 years of experience in the financial services industry and is passionate about becoming his client’s most trusted financial ally. 

Securities offered through LPL Financial, Member FINRA/SIPC. Investment advice offered through Private Advisor Group, a registered investment advisor. Private Advisor Group and Hoffman Wealth Management are separate entities from LPL Financial. All performance referenced is historical and is no guarantee of future results. All indices are unmanaged and may not be invested into directly.

The LPL Financial registered representative(s) associated with this website may discuss and/or transact business only with residents of the states in which they are properly registered or licensed.  No offers may be made or accepted from any resident of any other state.

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Raising Money-Smart Kids with Justin Chung (Ep. 17)

Raising Money-Smart Kids with Justin Chung (Ep. 17)

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Financially unaware children often become financially unaware adults.

To help you raise money-smart kids, our guest, Justin Chung, host of the MoneyDad podcast, emphasizes the importance of incorporating money into your everyday routines and conversations with your children.

As fathers, Will and Justin discuss:

  • The advantages of introducing financial education to children at a young age
  • Opportunities for money discussions in everyday activities
  • How they encourage their own children to tap into their entrepreneurial mindset
  • Examples of how parents and children can benefit from learning financial concepts 
  • And more

Resources:

Connect with Will Hoffman: 

Connect with Justin Chung: 

About Our Guest: 

Justin Chung is a successful real estate investor, podcast host, husband, and father of two boys. He became interested in real estate investing in 2007 after purchasing a student rental property in Waterloo, Ontario with his father’s help. He continued to acquire more properties and built a multi-million dollar real estate portfolio through joint ventures while working a full-time job. In 2012. His mother passed away, which served as a catalyst for him to pursue his real estate investing goals and help family and friends build long-term wealth. He has received awards from the Real Estate Investment Network and Canadian Real Estate Wealth Magazine for his success in real estate investing.

Becoming a father in 2014 further inspired him to teach his children about money and wealth building. He believes in the importance of raising money-smart kids and has made it his goal to inspire other parents to have meaningful conversations with their children about money. He curates actionable and practical knowledge on strategies, tactics, and mindset secrets to help parents teach their kids about money and build wealth.

Justin Chung and MoneyDad podcast are not affiliated with or endorsed by LPL Financial, Hoffman Wealth Management, or Private Advisor Group.

About Our Host: 

Will Hoffman is a financial advisor and the Founder of Hoffman Wealth Management, a firm dedicated to helping professionals create wealth plans that revolve around their financial goals. Will has 20 years of experience in the financial services industry and is passionate about becoming his client’s most trusted financial ally. 

Securities offered through LPL Financial, Member FINRA/SIPC. Investment advice offered through Private Advisor Group, a registered investment advisor. Private Advisor Group and Hoffman Wealth Management are separate entities from LPL Financial. All performance referenced is historical and is no guarantee of future results. All indices are unmanaged and may not be invested into directly.

The LPL Financial registered representative(s) associated with this website may discuss and/or transact business only with residents of the states in which they are properly registered or licensed.  No offers may be made or accepted from any resident of any other state.

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