Tag: Financial Literacy

Why Don’t Schools Teach Personal Finance? w/ author Cary Siegel (Ep. 51)

Why Don’t Schools Teach Personal Finance? w/ author Cary Siegel (Ep. 51)

By |

Summary: In this episode of Wealth on the Move, host Will Hoffman engages with Cary Siegel, author of ‘Why Didn’t They Teach Me This in School?’ They discuss the critical need for financial literacy in education, the importance of teaching children about money management, and practical strategies for parents to fill the gaps in their own financial knowledge. Cary shares insights from his book, emphasizing the value of getting rich slowly, avoiding the pitfalls of comparison, and the necessity of negotiation in everyday life. The conversation highlights the shift from traditional pensions to personal financial responsibility, urging listeners to take charge of their financial futures. In this conversation, Cary Siegel shares invaluable financial wisdom, emphasizing the importance of budgeting, living below one’s means, and making informed financial decisions at various life stages. He discusses practical steps for new graduates, young families, and those approaching retirement, while reflecting on his own experiences during the financial crisis. Cary also debunks common money myths and encourages listeners to invest time in understanding personal finance.

Resources: 

Takeaways:

  • Financial literacy is lacking in schools.
  • Carrie Siegel wrote the book for his children.
  • Money management is crucial for all ages.
  • Parents should start teaching financial basics early.
  • Investing in a 401(k) is essential for future security.
  • Getting rich slowly is a sustainable approach.
  • Avoid comparing yourself to others financially.
  • Negotiation can lead to significant savings.
  • Understanding needs versus wants is vital.
  • Financial education should be a lifelong pursuit. Always have a budget and follow it.
  • Living below your means is crucial for financial stability.
  • Pay off your mortgage as quickly as possible for security.
  • New graduates should prioritize their IRA and loan repayments.
  • Enjoy life while making financial trade-offs.
  • Consider your children’s education costs early on.
  • Invest in the stock market for better returns over time.
  • Passive income is often not as passive as it seems.
  • Work hard and smart in your career for better opportunities.
  • Take time each week to learn about money management.

Connect with Will Hoffman: 

 

Disclosure: Cary Siegel and Why Didn’t They Teach Me This In School are not affiliated with Hoffman Wealth Management or Private Advisor Group

Podcast: Play in new window | Download | Embed

Subscribe: RSS | More

Retirement Rewirement: Why Most People Forget Why They Retired & How to Fix It w/ Bonnie Treichel (Episode 47)

Retirement Rewirement: Why Most People Forget Why They Retired & How to Fix It w/ Bonnie Treichel (Episode 47)

By |

Summary: In this episode of Wealth on the Move, host Will Hoffman engages with Bonnie Treichel, J.D., co-author of Your Retirement Sketchbook. They discuss the complexities of retirement planning, emphasizing the importance of visualization, the psychological shift required for retirement (termed ‘rewirement’), and the need for community and purpose in this new phase of life. The conversation also covers practical aspects like social security, the upcoming wave of retirements (Peak 65), and the often-overlooked topics of pets and digital footprints in retirement planning. The episode encourages proactive discussions about retirement and highlights the dynamic nature of financial planning.

Resources: 

Takeaways:

  • Retirement can feel confusing and overwhelming for many people.
  • Visualization is a powerful tool in understanding financial concepts.
  • The concept of ‘rewirement’ emphasizes a mindset shift for retirement.
  • Community, purpose, and recreation are essential for a fulfilling retirement.
  • Retirement planning is not a one-time event but a dynamic process.
  • Social security decisions can significantly impact retirement finances.
  • The upcoming Peak 65 wave will see a large number of retirements.
  • Pets can provide companionship and purpose in retirement.
  • Planning for your digital footprint is increasingly important.

Connect with Will Hoffman: 

 

Disclosure: Bonnie Treichel and Endeavor Law are not affiliated with Hoffman Wealth Management and Private Advisor Group.
PlayPlay

Podcast: Play in new window | Download

Subscribe: RSS | More

How to Teach Kids About Money (Financial Literacy, Allowance & Investing for Children) with Maya Corbic, CPA (Episode 39)

How to Teach Kids About Money (Financial Literacy, Allowance & Investing for Children) with Maya Corbic, CPA (Episode 39)

By |

Summary: In this episode of Wealth on the Move, host Will Hoffman and guest Maya Corbic discuss the critical importance of teaching financial literacy to children. They explore Maya’s journey as a first-generation immigrant and CPA, her insights on how to engage kids in financial conversations, and practical tips for parents to instill money management skills in their children. The conversation also addresses common myths about kids and money, the role of technology in financial education, and the importance of creating financially confident adults for future generations.

Resources:

Takeaways:

  • Teaching kids about money is essential for their future.
  • Parents often know more than they think and can teach their kids.
  • Financial literacy should start as early as age four or five.
  • Kids can understand the difference between needs and wants.
  • Engaging kids with relatable examples makes learning fun.
  • Allowance should be viewed as a tool for teaching money management.
  • Mistakes made with money should happen when stakes are low.
  • Generational wealth can be changed through education.
  • Schools often lack the resources to teach financial literacy effectively.
  • Financial confidence comes from understanding and practice.

Connect with Will Hoffman: 

 

Maya Corbic, CPA, CA and Teach Kids Money Club are not affiliated with Hoffman Wealth Management and Private Advisor Group.

Podcast: Play in new window | Download | Embed

Subscribe: RSS | More

Caregiving, Finances, and Family: ‘My Mother’s Money’ and the Hidden Costs of Care w/ Beth Pinsker (Episode 35)

Caregiving, Finances, and Family: ‘My Mother’s Money’ and the Hidden Costs of Care w/ Beth Pinsker (Episode 35)

By |

Summary: In this episode of Wealth on the Move, host Will Hoffman speaks with Beth Pinsker, a personal finance columnist and author of ‘My Mother’s Money.’ They discuss the challenges of caregiving, the complexities of financial responsibilities, and the importance of having essential documents in place. Beth shares her personal journey of navigating her mother’s illness and the financial decisions that arose, emphasizing the need for open conversations about money within families. The episode highlights the emotional and practical aspects of caregiving and offers valuable insights for listeners.

Resources:

Takeaways:

  • Caregiving often intertwines with financial responsibilities.
  • Bad financial decisions are common in caregiving situations.
  • Having essential documents like power of attorney is crucial.
  • Families need to communicate openly about finances.
  • Financial planning is not just about investments; it’s about life decisions.
  • The sandwich generation faces unique challenges in caregiving.
  • Understanding financial structures can prevent future issues.
  • Storytelling can facilitate important family discussions.
  • Navigating healthcare and financial systems is complex and often frustrating.
  • Preparation can alleviate stress during caregiving crises.

Connect with Will Hoffman: 

Podcast: Play in new window | Download | Embed

Subscribe: RSS | More

Navigating Life Financially: After Graduation (Episode 20)

Navigating Life Financially: After Graduation (Episode 20)

By |

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.

Resources:

 

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.

 

Connect with Will Hoffman: 

 

Podcast: Play in new window | Download | Embed

Subscribe: RSS | More

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

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

By |

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:

Podcast: Play in new window | Download | Embed

Subscribe: RSS | More

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

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

By |

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.

Podcast: Play in new window | Download | Embed

Subscribe: RSS | More