Tag: Side Hustle

How to Optimize Retirement Taxes & Avoid Costly Mistakes with Taylor Schulte (Episode 46)

How to Optimize Retirement Taxes & Avoid Costly Mistakes with Taylor Schulte (Episode 46)

Summary: In this episode, Will Hoffman interviews Taylor Schulte, CEO of Define Financial, about the importance of proactive financial planning, tax strategies, behavioral finance, and balancing life and wealth. They explore how high-income families can optimize their wealth, avoid common mistakes, and enjoy their journey to retirement.

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Key Topics:

  • Proactive tax planning and its long-term benefits
  • The impact of wealth on financial complexity
  • Common mistakes high-income families make before and after retirement
  • The importance of life and relationship planning in retirement
  • Behavioral finance and emotional decision-making in wealth management

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Narrative Wins: How Personal Stories Shape Financial Decisions w/ Joe Caruso & Shawn Mahoney, PhD | Episode 45

Narrative Wins: How Personal Stories Shape Financial Decisions w/ Joe Caruso & Shawn Mahoney, PhD | Episode 45

Summary: In this episode of Wealth on the Move, host Will Hoffman engages with Joe Caruso and Dr. Shawn Mahoney, co-authors of the book ‘Narrative Wins!’. They explore the profound impact of personal narratives on financial success and decision-making. The conversation delves into how the stories we tell ourselves shape our behaviors, particularly in the context of money, and emphasizes the importance of understanding and re-contextualizing these narratives to foster better financial outcomes. The discussion also highlights the role of fear and greed in financial decisions and the significance of client relationships in wealth management. In this conversation, the speakers delve into the intricate relationship between trust, personal narratives, and financial decision-making. They explore how trust is built and the impact of scarcity versus abundance mindsets on financial behaviors. The discussion highlights the psychological ties between love and money, the importance of understanding personal narratives, and the role of AI in enhancing financial advisory services. The speakers emphasize the need for self-awareness and the ability to shift narratives to foster better financial outcomes.

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Takeaways:

  • The personal narrative is foundational to our identity.
  • Successful individuals often have healthier narratives than those who struggle.
  • Curiosity and awareness are crucial in understanding our narratives.
  • Fear and greed are the two primary emotions influencing financial decisions.
  • Contextualizing financial fears can lead to better decision-making.
  • Personal narratives can evolve over time based on experiences.
  • Client conversations should focus on understanding their narratives.
  • The stories we tell ourselves can either empower or hinder us.
  • Awareness of our narratives is the first step to change.
  • It’s essential to remember that financial management is about people, not just money. Trust is fundamental in relationships and must be earned.
  • Scarcity mindset can lead to neurotic behaviors and poor financial decisions.
  • Understanding personal narratives is crucial for self-awareness.
  • Rationality in financial decisions is often clouded by fear and emotions.
  • AI can enhance financial advisory but cannot replace human connection.
  • Generational perspectives shape our views on money and wealth.
  • Narratives influence how we perceive wealth and success.
  • Shifting one’s narrative can lead to better financial outcomes.
  • Identifying disruptive narratives is key to improving financial habits.
  • Listening and understanding clients’ narratives is essential for advisors.

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Is Our Money Broken? Bitcoin, Inflation & The Future of Currency with Natalie Brunell (Episode 44)

Is Our Money Broken? Bitcoin, Inflation & The Future of Currency with Natalie Brunell (Episode 44)

Summary: In this episode of Wealth on the Move, host Will interviews Natalie Brunell, author of ‘Bitcoin is for Everyone’ and a Bitcoin educator. They discuss the significance of Bitcoin in today’s economic landscape, the evolution of money, and the systemic issues with fiat currency. Natalie shares her personal journey to understanding Bitcoin and emphasizes its potential as a solution to the problems of inflation and economic inequality. The conversation also touches on the importance of financial education and the future of Bitcoin in a rapidly changing world. In this conversation, Natalie Brunell discusses the transformative potential of Bitcoin as a freedom technology, its role as an investment opportunity, and addresses common criticisms regarding energy usage and skepticism. She emphasizes the importance of understanding Bitcoin’s value, starting small in ownership, and the societal changes it could bring about, ultimately restoring hope for many individuals.

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Takeaways:

  • Bitcoin is an essential asset for everyone.
  • Natalie’s background informs her perspective on Bitcoin.
  • The evolution of money has led to systemic issues.
  • Fiat currency is designed to lose value over time.
  • Bitcoin offers a decentralized alternative to traditional money.
  • The current economic system rewards the wealthy disproportionately.
  • Understanding money is crucial for financial empowerment.
  • Bitcoin’s scarcity and decentralization make it unique.
  • The shift from gold to fiat has created economic instability.
  • Bitcoin can help individuals protect their purchasing power. Bitcoin offers property rights to 8 billion people.
  • It is a neutral technology that can strengthen monetary policy.
  • Bitcoin mining can utilize renewable energy sources.
  • Bitcoin’s volatility is a result of its small market size.
  • A little investment in Bitcoin can enhance portfolio returns.
  • Bitcoin has outperformed traditional investments over time.
  • Skepticism towards new technologies is natural and historical.
  • Starting small with Bitcoin is a practical approach.
  • Bitcoin is divisible, allowing for small investments.
  • Bitcoin can restore hope and economic empowerment.

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What Social Media Is Teaching Our Kids About Money (Episode 43)

What Social Media Is Teaching Our Kids About Money (Episode 43)

Summary: In this episode of Wealth on the Move, host Will Hoffman is joined by Hoffman Wealth Management’s Director of Marketing, Brynn Tarbuck, for a candid and timely conversation on what social media is teaching kids about money — and where it’s getting it wrong. From flashy lifestyles and “get rich quick” narratives to misleading investment advice and the glamorization of debt, Will and Brynn break down five key areas where social media can distort young people’s understanding of wealth. Drawing from Will’s perspective as a father and advisor, and Brynn’s experience growing up alongside social media, the episode highlights the importance of budgeting, skill-building, realistic expectations, and understanding risk. The conversation also explores the dangers of confusing investing with gambling, the myth that financial freedom means quitting your job, and why true wealth is about optionality — not appearances. Ultimately, this episode serves as a guide for parents, young professionals, and anyone looking to build a healthier, more realistic relationship with money in a digital-first world.

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Takeaways:

  • Social media often promotes looking rich, not being wealthy.
  • Wealthy individuals are typically intentional and disciplined with their money.
  • Budgeting is about control and clarity — not restriction.
  • Financial freedom means having options, not necessarily quitting work.
  • Being “rich by 25” is a myth; your 20s are for learning, earning, and making mistakes.
  • Expensive things do not equal success — value and price are not the same.
  • The fastest way to stay broke is trying to look wealthy.
  • Your job is not the enemy — skill-building is one of the greatest wealth drivers.
  • Credit cards and points can be tools, but debt is never free money.
  • Investing is not gambling; understanding risk is essential.
  • You don’t need massive risks or overnight wins to build wealth.
  • Diversified income streams require work — “passive” rarely means effortless.
  • Investing in yourself and your skills is the most reliable long-term strategy.
  • Parents should actively audit the financial content their kids are consuming.

 

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The Wealth Ladder Explained: How to Build Wealth at Every Stage of Life | Nick Maggiulli (Episode 40)

The Wealth Ladder Explained: How to Build Wealth at Every Stage of Life | Nick Maggiulli (Episode 40)

Summary: In this episode of Wealth on the Move, host Will Hoffman speaks with Nick Maggiulli, COO of Ritholtz Wealth Management and author of The Wealth Ladder. They discuss the misconceptions surrounding wealth building, emphasizing the importance of income over spending habits. The conversation explores the different levels of the wealth ladder, focusing on the early stages of financial safety and skill development, transitioning to investing, and understanding risk tolerance. They also touch on personal spending choices and the significance of aligning financial goals with lifestyle decisions. In this conversation, Will Hoffman and Nick Maggiulli explore the multifaceted nature of wealth, discussing how high net worth individuals perceive money differently, the emotional challenges associated with wealth, and the common myths that can hinder financial success. They emphasize the importance of adaptability in financial strategies and the need for personalized advice at different stages of wealth accumulation.

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Takeaways:

  • Wealth building is more about income than spending.
  • Financial safety is crucial for those at the bottom rungs.
  • Education and skill development are key to increasing earnings.
  • Investing becomes more important as net worth increases.
  • Risk tolerance should align with personal circumstances and goals.
  • Lifestyle inflation can hinder financial progress.
  • Personal spending choices should reflect individual values and joy.
  • Avoid following high-level advice when starting out.
  • Building an emergency fund is essential for financial stability.
  • Understanding your financial situation is the first step to wealth.  High net worth individuals often feel a responsibility to preserve wealth for future generations.
  • Money can be viewed as a tool for making impactful changes in the world.
  • At some point, personal wealth may stop improving life satisfaction.
  • Emotional reactions to market fluctuations can lead to poor financial decisions.
  • The myth that cutting spending is the key to wealth is unfounded.
  • Consistent investing over time yields the best returns.
  • Liquidity is more important than previously thought.
  • Rebalancing investments may not be as crucial as once believed.
  • Financial strategies should evolve as one’s wealth grows.
  • Perspective on financial challenges can be gained from understanding historical events.

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Nick Maggiulli and Ritholtz Wealth Management are not affiliated with Hoffman Wealth Management and Private Advisor Group.
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)

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.

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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.

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Maya Corbic, CPA, CA and Teach Kids Money Club are not affiliated with Hoffman Wealth Management and Private Advisor Group.
2026 Market Outlook: AI, Interest Rates, Layoffs & What Investors Should Do Now | Bill Mann from Motley Fool (Episode 38)

2026 Market Outlook: AI, Interest Rates, Layoffs & What Investors Should Do Now | Bill Mann from Motley Fool (Episode 38)

Summary: In this episode of Wealth on the Move, host Will Hoffman and guest Bill Mann, Chief Investment Strategist at Motley Fool Asset Management, discuss the annual outlook for 2026. They reflect on the unpredictable nature of market predictions, the impact of political policies on the economy, and the importance of understanding market concentration, particularly in technology. The conversation also covers the Federal Reserve’s role in managing interest rates and employment, the challenges facing middle America, and strategies for investors to prepare their portfolios for economic changes. Additionally, they explore geopolitical considerations and the need for Europe to reset its economic policies. In this conversation, Bill Mann and Will Hoffman explore various economic themes, including surprising GDP statistics from unexpected states, the potential of emerging markets, and the ongoing revolution in AI. They discuss the implications of infrastructure challenges on market dynamics, identify promising sectors for investment, and anticipate potential black swan events that could impact the economy in 2026. The conversation concludes with strategic advice for investors and recommendations for influential voices in finance.

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Takeaways:

  • Every firm does an annual outlook, including Hoffman Wealth Management.
  • Bill Mann emphasizes the unpredictability of CEO predictions.
  • The market doesn’t recognize the calendar; financial planning is year-round.
  • Motley Fool Asset Management aims to support individual investors during market stress.
  • The name ‘Motley Fool’ reflects a tradition of truth-telling in finance.
  • 2025 was marked by significant economic shifts due to political policies.
  • Market concentration in technology raises concerns for future stability.
  • Interest rates and employment are key focuses for the Federal Reserve.
  • The economy is bifurcated, with disparities between financial markets and middle America.
  • Investors should consider value-driven and momentum strategies in their portfolios. Germany’s economic performance is surprising compared to smaller US states.
  • Emerging markets like Brazil and Korea present unique investment opportunities.
  • AI adoption is still in its early stages, akin to the internet boom.
  • AI is reshaping job markets, creating new roles while enhancing existing ones.
  • Infrastructure development in the US faces significant challenges and delays.
  • Investors should focus on high-quality companies with growth potential.
  • Japan’s market may outperform others in the coming year.
  • Black swan events, like geopolitical tensions, could disrupt markets.
  • Investors should reassess their portfolios for quality and alignment with beliefs.

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Bill Mann and Motley Fool Asset Management are not affiliated with Hoffman Wealth Management and Private Advisor Group.
Maximizing Financial Aid: The FAFSA Guide with Tina Steele (Episode 30)

Maximizing Financial Aid: The FAFSA Guide with Tina Steele (Episode 30)

Summary: In this episode of Wealth on the Move, Will Hoffman speaks with Tina Steele, the FAFSA guru, about the intricacies of the FAFSA process and how families can maximize their financial aid opportunities. They discuss the importance of understanding FAFSA, the changes that have occurred recently, and strategies for families to navigate the financial aid landscape effectively. Tina shares insights on common mistakes families make, the significance of documentation, and the future of FAFSA, including new technologies that will aid in the process. This conversation is essential for parents and students preparing for college funding.

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Takeaways:

  • FAFSA is crucial for all students attending college.
  • Filling out FAFSA is necessary every year for financial aid.
  • Many families mistakenly believe they won’t qualify for aid.
  • Child support is now treated as an asset in FAFSA calculations.
  • Families can report special circumstances to financial aid offices.
  • It’s important to appeal financial aid offers for potential increases.
  • NIL income can affect financial aid eligibility for student-athletes.
  • Common mistakes include misreporting assets and missing deadlines.
  • Documentation is key for the FAFSA process and potential verification.
  • The FAFSA process is evolving with new technologies for assistance.

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Tina Steele and The FAFSA Guru not affiliated with Hoffman Wealth Management and Private Advisor Group. This presentation is not intended as specific financial advice for any individual.
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)

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.

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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.

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

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

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.

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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.

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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.