Tag: Financial Advisor

Hip Hop x Finance with author Drew Boyer (Episode 13)

Hip Hop x Finance with author Drew Boyer (Episode 13)

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Summary: In this episode of Wealth on the Move, host Will Hoffman interviews Drew Boyer, author of ‘Hip Hop X Finance.’ They discuss Drew’s journey from music to finance, the importance of financial education, and how hip-hop culture can influence financial literacy. Drew shares personal financial mistakes and lessons learned, while also addressing cultural misconceptions about hip hop. The conversation emphasizes the need for better financial education for future generations, using relatable stories from the music industry to teach valuable lessons about money management. In this engaging conversation, Drew Boyer and Will Hoffman explore the intersection of finance and hip-hop culture, emphasizing the importance of visual storytelling in financial education. They discuss the significance of estate planning, personal branding, and the entrepreneurial spirit, while also sharing personal anecdotes and insights on networking and growth mindset. The dialogue touches on non-financial life lessons, favorite hip hop influences, and the impact of financial literature, culminating in a discussion about finding purpose and the future of finance in a culturally integrated world.

Resources:

Takeaways:

  • Drew Boyer’s journey began with music and led to finance.
  • Financial education is crucial for young people.
  • Hip hop culture can teach valuable financial lessons.
  • Many artists face financial mismanagement despite their success.
  • Personal experiences shape our understanding of finance.
  • The struggle in business gives purpose and resilience.
  • Cultural misconceptions about hip hop persist.
  • Financial literacy is often lacking in education systems.
  • Drew aims to help others avoid his financial mistakes.
  • Music connects generations and influences financial perspectives. Visual appeal is crucial in financial education.
  • Creative storytelling can make finance more relatable.
  • Wills and estate planning are essential for asset protection.
  • Entrepreneurship is more accessible than ever.
  • Networking is key to success in any field.
  • Non-financial lessons are just as important as financial ones.
  • Hip hop culture can influence financial literacy.
  • Reading influential financial literature can provide valuable insights.
  • Understanding personal purpose can guide career choices.
  • The future of finance should embrace cultural integration.

Connect with Will Hoffman: 

Connect with Drew Boyer:

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

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

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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.

Resources:

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.

Connect with Will Hoffman: 

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Money Matters: Before Marriage (Episode 10)

Money Matters: Before Marriage (Episode 10)

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Summary: In this episode of Wealth on the Move, hosts Will Hoffman and Brynn Tarbuck discuss the critical financial conversations that couples should have before marriage. They explore the importance of transparency about money, the legal implications of marriage, and the necessity of protecting assets through prenuptial agreements and wills. The episode emphasizes the need for life insurance and regular updates to financial documents to ensure that couples are prepared for any eventuality, ultimately aiming to prevent financial issues from jeopardizing their marriage.

Resources:

Takeaways:

  • Having open conversations about money is essential before marriage.
  • Understanding financial backgrounds can prevent future conflicts.
  • A financial inventory should include assets, liabilities, and credit scores.
  • Setting joint financial goals is crucial for a successful marriage.
  • Merging some financial accounts can foster transparency and trust.
  • Prenuptial agreements can protect individual assets and generational wealth.
  • Legal advice is important for estate planning and asset protection.
  • Regularly updating wills and beneficiaries is vital after marriage.
  • Life insurance is a key component of financial planning for couples.
  • Financial planning should be a collaborative effort between partners.

Connect with Will Hoffman: 

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The Critical Role of Tax Planning in Financial Success (Episode 8)

The Critical Role of Tax Planning in Financial Success (Episode 8)

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Summary: In this episode of Wealth on the Move, hosts Will Hoffman and Brynn Tarbuck delve into the critical topic of tax planning and its significant impact on wealth management. They discuss the difference between tax planning and tax preparation, emphasizing the importance of proactive strategies to optimize tax situations over time. The conversation highlights the necessity of starting tax planning early, the need for a shift in mindset regarding tax preparation, and the value of working with specialists in the field. The hosts provide insights on how to approach tax planning tactically and strategically, ensuring that listeners understand the long-term benefits of thoughtful financial decisions.

Resources:

Connect with Will Hoffman: 

Takeaways:

  • Tax planning is crucial for wealth management.
  • Proactive tax strategies can significantly impact financial outcomes.
  • Tax preparation is merely a historical record of past actions.
  • Understanding the difference between tax planning and preparation is essential.
  • Starting tax planning early can lead to better financial health.
  • Regular check-ins on tax situations are important for long-term success.
  • Shifting the narrative from compliance to strategy is key.
  • A tactical approach to tax planning can yield substantial savings.
  • Collaboration with specialists enhances tax planning effectiveness.
  • Long-term tax strategies can alleviate stress during retirement.

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Redefining Retirement and Embracing Change with Suzanne Campi (Episode 6)

Redefining Retirement and Embracing Change with Suzanne Campi (Episode 6)

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Summary: In this episode of Wealth On The Move, host Will Hoffman engages with retirement coach Suzanne Campi to explore the evolving concept of retirement. They discuss the importance of coaching through life transitions, the creation of the Retirement Wheel, and the significance of legacy and purpose beyond financial planning. Suzanne shares insights on navigating unexpected retirements, overcoming ageism, and the role of relationships in a fulfilling retirement. The conversation emphasizes the need for self-reflection and honoring endings as individuals transition into this new phase of life.

Resources:

Connect with Will Hoffman: 

Connect with Suzanne Campi:

Takeaways:

  • Retirement is no longer defined by age but by personal choice.
  • Coaching helps individuals rediscover their purpose during transitions.
  • The Retirement Wheel assesses various life aspects beyond finance.
  • Legacy is about love and impact, not just financial wealth.
  • Many retirees experience a sense of loss and need support to find purpose.
  • Ageism affects perceptions of self-worth in retirement.
  • It’s essential to nurture relationships during retirement.
  • Fear of change can prevent individuals from pursuing their passions.
  • Self-reflection is crucial in understanding one’s journey.
  • Honoring endings can lead to new beginnings and growth.

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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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