Tag: Investment

Vanguard Proves Why Financial Advisors Matter – And What Most Get Wrong (Episode 31)

Vanguard Proves Why Financial Advisors Matter – And What Most Get Wrong (Episode 31)

By |

Summary: In this episode of Wealth on the Move, host Will Hoffman and director of financial planning Niko Rosso discuss the value that financial advisors bring to their clients, referencing a significant study by Vanguard. They explore various aspects of financial planning, including investment selection, asset location, tax efficiency, and the importance of behavioral coaching. The conversation emphasizes the evolving role of independent financial advisors in a changing financial landscape, highlighting the need for financial literacy and proactive planning.

Resources:

  • Download the Vanguard Study HERE!

Takeaways:

  • Vanguard’s study highlights the value of financial advisors.
  • Investment selection can add significant alpha to portfolios.
  • Behavioral coaching is crucial for client success.
  • Understanding asset location can enhance tax efficiency.
  • Tax loss harvesting can provide financial benefits.
  • Budgeting is essential for financial discipline.
  • Independent financial advisors are shaping the future of wealth management.
  • Financial literacy is vital for effective money management.
  • Proactive planning can mitigate financial risks.
  • The evolving landscape of financial advising requires adaptability.

Connect with Will Hoffman: 

Connect with Niko Rosso:

 

Podcast: Play in new window | Download | Embed

Subscribe: RSS | More

How to Win Scholarships & Pay for College Without Student Loans with Dave Peterson (Episode 29)

How to Win Scholarships & Pay for College Without Student Loans with Dave Peterson (Episode 29)

By |

Summary: In this episode of Wealth on the Move, host Will Hoffman discusses the challenges of funding college education with expert Dave Peterson. They explore the vast opportunities available through scholarships, the misconceptions surrounding them, and the importance of starting the scholarship search early. Peterson shares insights on different types of scholarships, the scholarship application process, and how to build a compelling personal narrative. The conversation emphasizes the need for parents and students to be proactive in seeking financial aid to alleviate the burden of student loans and ensure a successful educational journey.

Resources:

Takeaways:

  • There is a significant amount of scholarship money available, much of which goes unclaimed.
  • Scholarships are not just for seniors; opportunities exist for younger students as well.
  • A strong personal narrative is crucial for winning scholarships.
  • Students should start applying for scholarships as early as possible.
  • Many scholarships do not require high GPAs or test scores.
  • Building a personal narrative involves academics, extracurriculars, volunteering, and work experience.
  • Avoid applying for illegitimate scholarships that ask for sensitive information.
  • The scholarship application process requires attention to detail and following instructions.
  • Students can earn scholarships even after high school graduation.
  • Utilizing resources like Scholarship GPS can help streamline the scholarship search process.

Connect with Will Hoffman: 

 

Dave Peterson and Scholarship GPS not affiliated with Hoffman Wealth Management and Private Advisor Group. This presentation is not intended as specific financial advice for any individual.

Podcast: Play in new window | Download | Embed

Subscribe: RSS | More

Healthy Wealthy Longevity: A New Prospective with Jon Sabes (Episode 28)

Healthy Wealthy Longevity: A New Prospective with Jon Sabes (Episode 28)

By |

Summary: In this episode of Wealth on the Move, host Will Hoffman engages with John Sabes, author of ‘Healthy Wealthy Longevity.’ They discuss the critical importance of longevity as a financial risk, the role of self-care and health in financial planning, and the impact of lifestyle choices on longevity. John shares insights on epigenetics and how our lifestyle influences gene expression, emphasizing the need for individuals to invest in their health to ensure a vibrant life as they age. The conversation also touches on the future of health and wealth innovation, and the importance of planning for uncertainty in life expectancy.

Resources:

Takeaways:

  • Longevity is a significant risk to retirement portfolios.
  • Self-care and health are crucial for a fulfilling life.
  • Investing in yourself is the best financial decision.
  • Lifestyle choices greatly influence longevity and health.
  • Epigenetics shows that our lifestyle affects gene expression.
  • Planning for retirement must consider the unpredictability of life expectancy.
  • The worst outcome in aging is to be alone and poor.
  • Financial advisors should focus on holistic well-being, not just investments.
  • Maintaining muscle mass is vital for health span and longevity.
  • Living with purpose and connection enhances overall longevity.

Connect with Jon Sabes:

Connect with Will Hoffman: 

John Sabes and Longevity Financial Partners are not affiliated with Hoffman Wealth Management and Private Advisor Group. This presentation is not intended as specific financial advice for any individual.

Podcast: Play in new window | Download | Embed

Subscribe: RSS | More

The NIL Revolution: Transforming College Sports with Kristi Dosh (Episode 27)

The NIL Revolution: Transforming College Sports with Kristi Dosh (Episode 27)

By |

Summary: In this episode of Wealth on the Move, host Will Hoffman and NIL expert Kristi Dosh delve into the transformative landscape of Name, Image, and Likeness (NIL) in college sports. They discuss the evolution of NIL rules, the financial implications for student-athletes, and the importance of building a personal brand through social media. Kristi shares insights on navigating contracts, the role of agents, and the tax responsibilities that come with NIL deals. The conversation also highlights the future of NIL, including market inefficiencies and undervalued opportunities for athletes.

Resources:

Takeaways:

  • NIL has revolutionized the financial landscape for college athletes.
  • The rules around NIL have changed significantly since July 2021.
  • Athletes must navigate a complex and evolving NIL environment.
  • Written contracts are essential for NIL deals to avoid misunderstandings.
  • Many athletes may not need agents but should consider hiring attorneys.
  • Tax implications are a crucial aspect of NIL earnings for athletes.
  • Social media presence is vital for building a personal brand.
  • Athletes should diversify their content beyond just their sport.
  • NIL opportunities can extend into coaching and clinics for athletes.
  • The future of NIL may see more states allowing high school athletes to participate

Connect with Will Hoffman: 

Kristi Dosh and Business of College Sports are not affiliated with Hoffman Wealth Management and Private Advisor Group. Hoffman Wealth Management and Private Advisor Group do not provide tax or legal advice. This presentation is not intended as specific financial,  tax or legal advice for any individual. Please consult with qualified professionals for these types of advice.

Podcast: Play in new window | Download | Embed

Subscribe: RSS | More

All About the One Big Beautiful Bill Act with Tax Wizard Kelly Bender (Episode 26)

All About the One Big Beautiful Bill Act with Tax Wizard Kelly Bender (Episode 26)

By |

Summary: In this episode of Wealth on the Move, host Will Hoffman and tax expert Kelly Bender dive deep into the implications of the new OB3 tax law and what it means for both business owners and individual taxpayers. They explore the importance of understanding business entity structures, the impact of payroll tax updates, and the necessity of long-term tax strategies. Key topics include changes to income tax brackets, retirement account contributions, child tax credits, and state and local tax (SALT) deductions. They discuss the permanence of the Qualified Business Income (QBI) deduction, updates to depreciation rules, and investment incentives such as Qualified Opportunity Zones and qualified small business stock. Kelly shares insights from her upcoming book aimed at helping new entrepreneurs navigate the complexities of starting a business, while also addressing common tax myths and the importance of proactive planning for future generations. Throughout the conversation, they emphasize how OB3’s changes require individuals and businesses to adapt to an evolving tax landscape in order to maximize benefits and maintain compliance.

Resources:

Takeaways:

  • Many small business owners don’t fully understand their entity structure.
  • OB3 introduces significant tax code changes impacting individuals and businesses.
  • QBI deduction is now permanent for small business owners.
  • Income tax brackets have been adjusted, but many won’t feel the impact.
  • Retirement contributions are now tied to inflation.
  • Child tax credit will increase to $2,200 per child by 2025.
  • New senior deduction of $6,000 for those over 65.
  • SALT deduction cap increased to $40,000.
  • Qualified Opportunity Zones can defer or eliminate taxes on gains.
  • Qualified small business stock offers significant tax benefits.
  • Payroll tax compliance is essential under new rules.
  • Depreciation rules now allow faster write-offs for capital investments.
  • Proactive, long-term tax planning can save money in the long run.
  • Common tax myths can lead to poor financial decisions.
  • Asking questions is vital for entrepreneurs starting out.

Connect with Will Hoffman: 

Connect with Kelly Bender: 

Podcast: Play in new window | Download | Embed

Subscribe: RSS | More

Navigating Market Volatility | Insights from Q2 with Andrew Opdyke (Episode 25)

Navigating Market Volatility | Insights from Q2 with Andrew Opdyke (Episode 25)

By |

Summary: In this episode of Wealth on the Move, host Will Hoffman and Senior Economist Andrew Opdyke discuss the current state of the markets, focusing on the second quarter’s volatility, the Federal Reserve’s stance on interest rates and inflation, the impact of AI on business and investment, and the upcoming midterm elections. They also provide insights into portfolio strategies for the third quarter and reflect on historical lessons that can guide future decisions.

Resources:

Takeaways:

  • It’s time in the market, not timing the market that matters.
  • Data-driven insights are crucial for accurate forecasting.
  • Emotions can lead to irrational market reactions.
  • The second quarter saw significant market swings due to tariffs.
  • The Federal Reserve is cautious about cutting rates amid uncertainty.
  • AI is transforming industries and enhancing productivity.
  • Historical context is essential for understanding current market dynamics.
  • Investors should maintain a diversified portfolio.
  • The U.S. remains a strong place for business growth.
  • Perspective from history can guide future financial decisions.

Connect with Will Hoffman: 

Podcast: Play in new window | Download | Embed

Subscribe: RSS | More

Fitness & Finance: How Discipline Builds Wealth and Wellness with Stan Vaccari (Episode 24)

Fitness & Finance: How Discipline Builds Wealth and Wellness with Stan Vaccari (Episode 24)

By |

Summary: In this episode of Wealth on the Move, host Will Hoffman sits down with fitness expert Stan Vaccari to explore the deep parallels between physical fitness and financial wellness. Together, they discuss how both pursuits demand discipline, accountability, and a long-term strategic mindset. Vaccari draws from his experience in health coaching to emphasize the value of online coaching, the importance of tracking progress, and the common hurdles faced when starting new fitness or financial goals. The conversation touches on the underrated power of walking, post-workout nutrition strategies, and the lifelong benefits of investing in oneself. Reflecting on personal choices and growth, Will and Stan also delve into how historical perspectives shape current trends — including the evolving role of AI in our lives. Like training for a marathon or building wealth, success is best achieved with patience, consistency, and purpose.

Resources:

Takeaways:

  • Fitness and finance are interconnected and influence each other.
  • Online coaching can provide better accountability and results than in-person training.
  • Discipline in training leads to improvements in other areas of life.
  • Starting points in fitness and finance are often the most challenging.
  • Setting clear goals and engineering a plan is crucial for success.
  • Slow and steady progress is more sustainable than quick fixes.
  • Accountability is key to maintaining fitness and financial goals.
  • Boring routines can lead to significant results over time.
  • Measuring progress is essential in both fitness and finance.
  • You don’t need expensive gadgets to track your fitness effectively.
  • Walking is a powerful fitness habit that can significantly reduce health risks.
  • Post-workout nutrition can be unconventional yet effective.
  • Investing in personal development is crucial for long-term success.
  • Life choices, such as education paths, can shape future opportunities.
  • Understanding and utilizing AI is essential for future success.

Connect with Will Hoffman: 

Connect with Stan Vaccari: 

Podcast: Play in new window | Download | Embed

Subscribe: RSS | More

Navigating Financial Uncertainty with Dr. Naomi Win (Episode 21)

Navigating Financial Uncertainty with Dr. Naomi Win (Episode 21)

By |

Summary: In this episode of Wealth on the Move, host Will Hoffman and behavioral finance analyst Dr. Naomi Win explore the psychological aspects of financial decision-making, particularly during periods of uncertainty. They discuss how emotions influence our financial behaviors, the importance of having a solid financial plan, and strategies for coping with market volatility. Dr. Win emphasizes the need for psychological flexibility and the impact of cultural immediacy on our responses to financial challenges. The conversation highlights the significance of learning from past experiences and adapting our financial habits accordingly. In this conversation, Will Hoffman and Naomi discuss the evolving financial habits across generations, particularly focusing on the challenges faced by younger individuals in navigating uncertainty and risk. They explore the impact of cultural shifts on financial decision-making, the importance of cultivating a mindset of possibility, and the opportunities presented by the gig economy. The discussion also emphasizes the significance of self-trust and learning from failures as essential components of financial resilience.

Resources:

Takeaways:

  • Behavioral finance examines the cognitive and emotional drivers of financial decision-making.
  • Financial uncertainty can trigger emotional responses that lead to irrational decisions.
  • Having a financial plan acts as a GPS during uncertain times.
  • Psychological flexibility is crucial for navigating financial challenges.
  • Cultural immediacy influences our reactions to financial news and market changes.
  • We often prefer certain pain over the uncertainty of potential outcomes.
  • Uncertainty is an emotional state that can cloud our judgment.
  • Learning from past financial crises can help us make better decisions in the future.
  • Our financial habits are often shaped by our upbringing and parental influences.
  • Success and failure in finance are not permanent states; adaptability is key. Most habits we develop come from our parents.
  • Younger generations are more risk-averse due to cultural shifts.
  • Building resilience through resistance is crucial.
  • Self-trust is essential for navigating uncertainty.
  • The gig economy offers unprecedented opportunities for young people.
  • Failures are instructive and necessary for success.
  • Automation can simplify financial decision-making.
  • Pursuing certainty can lead to increased anxiety.
  • Recognizing stress is the first step to managing it.
  • Revisiting options can lower anxiety and clarify goals.

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

Navigating Market Volatility: Insights from Ryan Detrick (Episode 18)

Navigating Market Volatility: Insights from Ryan Detrick (Episode 18)

By |

Summary: In this episode of ‘Wealth on the Move’, host Will Hoffman and guest Ryan Detrick discuss the current volatility in the stock market, exploring the factors contributing to recent market movements, investor sentiment, and strategies for navigating uncertainty. They emphasize the importance of long-term investment strategies and the psychological aspects of investing, particularly during turbulent times. Detrick shares insights on how to approach market downturns and the significance of staying the course with investment plans. In this conversation, Ryan Detrick discusses the necessity and impact of tariffs on the economy, the uncertainty in the market, and predictions regarding a potential recession. He emphasizes the importance of diversification in investment strategies and the need for clarity in the current economic climate. The discussion also touches on the dynamics of the U.S. economy compared to global markets and the significance of planning in investment decisions.

Resources:

Takeaways:

  • Market volatility is at an all-time high, with significant fluctuations.
  • Understanding market movements requires analyzing what’s priced in versus what’s not.
  • Investor sentiment plays a crucial role in market behavior.
  • Long-term investment strategies are essential during market downturns.
  • It’s important to remain patient and avoid panic selling.
  • The stock market often presents buying opportunities during downturns.
  • Consistent investing is key to long-term success.
  • Diversification can help mitigate risks during volatile periods.
  • Historical trends show that markets recover over time.
  • Staying informed and adaptable is crucial for investors.  Tariffs may not be necessary as the economy has functioned without them for a long time.
  • The manufacturing sector has seen significant job losses, complicating the tariff debate.
  • Automation and AI may hinder the return of manufacturing jobs.
  • Market reactions to tariffs can be unpredictable and often negative.
  • Uncertainty in the market is prevalent, affecting both investors and businesses.
  • Recession predictions have increased, but there is still hope for avoiding one.
  • Diversification is crucial in investment strategies to mitigate risks.
  • Planning is essential, even if specific plans may not hold up.
  • The U.S. economy is dynamic and can adapt to changes in the global market.

Connect with Will Hoffman: 

Podcast: Play in new window | Download | Embed

Subscribe: RSS | More