Best In Wealth Podcast

De: Scott Wellens
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  • Resumen

  • This is the best in Wealth podcast – A show for successful family stewards who want real answers about Retirement and investing so we can feel secure about our family’s future. Scott's mission is simple: to help other family stewards build and maintain their family fortress. A family steward is someone that feels family is the most important thing. You go to your job every day for your family. You watch over your family, you make sacrifices for your family, you protect your family. I work with family stewards because I am one; I have become an expert in the unique wealth challenges family stewards face. Scott Wellens is the founder of Fortress Planning Group - an independent, fee-only, registered investment advisory firm. Fortress Planning Group is dedicated to coaching clients toward a holistic view of wealth and family stewardship. Scott is a certified financial planner, a fiduciary and has been quoted in the industry’s leading websites including Forbes, Business Insider and Yahoo Finance. Scott is also a Dave Ramsey Smartvestor Pro in the greater Milwaukee and Madison areas.
    Copyright 2025 Scott Wellens
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Crianza y Familias Economía Finanzas Personales Relaciones
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Episodios
  • How to Handle Stock Market Downturns, Ep #258

    How to Handle Stock Market Downturns, Ep #258
    Apr 19 2025
    Do downturns in the stock market inevitably lead to down years? On the show this month, I’m walking you through an analysis of U.S. market trends over the past two decades, illustrating how downturns, even severe ones, often don't spell disaster for annual returns. I’ll also share what savvy family stewards can do to weather these turbulent times and potentially capitalize on them. From practical strategies like Roth conversions and strategic rebalancing to steering clear of emotionally driven decisions, this episode is packed with insights to help you take family stewardship wealth to the next level. Tune in to see how a long-term, data-driven outlook can lead to more confident investing, regardless of market swings. Outline of This Episode
    • [3:31] Do downturns lead to down years?
    • [8:22] This is a volatile year for US stocks, but international companies did better.
    • [11:44] Stay invested; the market rebounds quickly.
    • [14:15[ Post-crash market rebound patterns.
    • [18:43] My guide to strategically rebalancing your portfolio.

    Understanding Market Fluctuations Between 2005 and 2024, the U.S. stock market witnessed only three negative years out of twenty, a testament to its resilience. Despite experiencing several downturns during those years, market recovery was the norm. For instance, although 2020 began with a staggering 35% downturn due to the COVID-19 pandemic, it ended 21% up. Similarly, in 2011, despite a 20% downturn during the year, the market concluded with a positive return. This historical perspective highlights the fleeting nature of downturns and underscores the importance of maintaining a disciplined approach to investing during turbulent times. A critical question for investors is whether downturns inevitably result in negative annual returns. Over the past twenty years, analysis reveals that downturns rarely dictate an entire year's trajectory. 17 out of the last 20 years ended positively, despite intrayear downturns ranging from 6% to as high as 35%. The takeaway here is significant: short-term market fluctuations do not always translate into negative returns, emphasizing the importance of a long-term perspective and patience. Why Staying the Course Pays Off Many investors, spooked by temporary market declines, resort to withdrawing their investments, potentially locking in losses. Instead, remaining invested allows one to benefit from eventual recoveries. Data shows that three-day drops, like the 11% decline recorded recently, are usually followed by substantial gains over the subsequent year, three years, and five years. Investors who maintain discipline through these downturns often see their portfolios grow significantly when the market rebounds. Practical Strategies for Navigating Downturns For those unsure how to act during a downturn, consider these proactive measures:
    1. Avoid Constant Monitoring:

    Constantly checking your investment portfolio during a downturn can lead to emotional decision-making. Once your strategy is in place, trust your plan and avoid frequent account reviews that can heighten anxiety and fear,...
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    20 m
  • Experts, Predictions, and the Uncertainty of the Stock Market, Ep #257

    Experts, Predictions, and the Uncertainty of the Stock Market, Ep #257
    Feb 14 2025
    Did you know that you can pay someone to give you advice on what to bet on? They can look at historical data like rushing and passing yards, touchdowns, and more—but so can we. Honestly, historical data can only tell us so much. If you bet on a game, you are really making a lucky guess. Is it really so different with the stock market? When it comes to predictions—whether for the Super Bowl or the S&P 500—there is a lot of uncertainty. So, let’s break down how predictions are made and whether or not they should guide our investment decisions. [bctt tweet="Predictions are everywhere—whether for the Super Bowl or the stock market. But how reliable are they? In episode 257 of Best in Wealth, we explore the dangers of betting on expert predictions and why diversification is key for your portfolio." username=""] Outline of This Episode
    • [1:13] The Super Bowl: What you can bet on?
    • [2:30] Why are we trusting betting experts?
    • [7:50] Expert predictions for 2025
    • [11:32] Reviewing predictions from 2024
    • [18:06] How do we build a portfolio?

    Expert predictions for 2025 Most of the top analysts—Oppenheimer, Wells Fargo, Deutsche Bank, and others—are bullish, predicting that the S&P 500 will rise in 2025. The consensus seems to suggest that the market will average a 10% return, which has been the long-term norm. Oppenheimer Asset Management stands out with an optimistic prediction of 18.4%, implying that 2025 could be a great year for the market. However, these predictions come with a significant caveat—the stock market, especially the S&P 500, is notoriously volatile. We have seen massive swings in the past, from a 38% drop in 2008 during the Great Recession to a 25% rise in 2024. BCA Research, on the other hand, predicts a 25.8% drop, highlighting just how different expert opinions can be. This stark difference—43% apart between two top analysts—raises an important question: if the experts cannot agree, how reliable are their predictions? It is a reminder that while these predictions may be based on data, the unpredictability of the market remains ever-present. [bctt tweet="Experts predict the future, but how often are they right? In episode 257 of Best in Wealth, we dive into the unpredictability of stock market forecasts and share why building a diversified portfolio is your best bet for long-term success." username=""] Reviewing predictions from 2024 Did the experts hit the mark last year? The S&P 500 went up around 25% (with dividends) and 23.3% without dividends.
    • Oppenheimer, the most bullish of the experts, predicted a modest 8% increase, but the market ended up being nearly three times better than that!
    • Many other firms—Goldman Sachs, BMO, Bank of America—also predicted positive returns, but the actual outcome was far beyond their expectations.
    • In a striking example, some analysts predicted that the S&P 500 would finish the year with negative returns—forecasts that couldn’t have been further from reality.

    This discrepancy illustrates an important point: even the most well-educated and experienced analysts can be drastically wrong. It shows that predictions are based on what experts know at the time, but they can't account for the countless variables that influence market behavior throughout the year, such as political changes, economic developments, and unforeseen global events. How do financial stewards build a portfolio? The answer is diversification. Family stewards—those who manage wealth and invest for future generations—should focus on creating a well-rounded portfolio that can weather any storm. Rather than betting on predictions, diversify your investments across a wide range of asset classes: large-cap stocks, small-cap stocks, international investments, emerging markets, real estate, and bonds. By spreading your...
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    21 m
  • The Ultimate Planner to Jumpstart Your 2025, Ep #256

    The Ultimate Planner to Jumpstart Your 2025, Ep #256
    Jan 10 2025
    Today, I am sharing something that my family has fallen in love with—The Clever Fox Dated Planner. This planner goes beyond simple scheduling with features like a gratitude section, vision board, habit tracker, and tools for setting and achieving SMART goals. It is designed to help you reflect, plan, and improve every week. If you are ready to take control of your time and goals, let me tell you all about it! [bctt tweet="Start 2025 strong with the Clever Fox Dated Planner! This isn’t just a planner—it’s a tool to reflect, set SMART goals, track habits, and create a vision for your year. My family loves it, and I know you will too. #SMARTGoals #Habits #Goals #Planner" username=""] Outline of This Episode
    • (1:09) I hope you had a wonderful Christmas and New Year!
    • (2:36) The planner that we bought for the entire family
    • (15:45) Spend some time zeroing in on your goals for 2025

    The planner that we bought for the entire family We bought the Clever Fox Dated Planner with habit trackers for goal setting and time management for everyone in the family. Though we were a bit worried that they would not be excited, surprisingly, everyone loved it. But why do I love this planner so much? Because of everything it includes:
    • How-to Guide: It comes with a pamphlet, “How this planner works.” They tell you where to begin, what to think about, and share examples.
    • Gratitude and Self-Awareness: This section gives you space to write down what you are grateful for and passionate about.
    • Daily Rituals: This is an opportunity to think about the skills you want to learn and habits you want to adopt. Maybe a ritual is drinking more water, meditating, or going to the gym.
    • Affirmations: Short sentences with an optimistic tone stated in the present tense, i.e., “I am an architect of my life.” They give you confidence.
    • Vision Board: They provide a two-page outlay where you can create your vision and get clear on what you want from life.
    • Goals: You are given space to write three goals for each of these sections: health & fitness, business & career, personal development, relationships, family & friends, fun & recreation, and spirituality.
    • Mind-Map: This section helps you take the big goals you have written down and break them down into smaller pieces.
    • Monthly Page: This is a full page just like a typical planner (months January through January). It includes areas to write notes and goals.
    • Weekly pages: This allows you to write out the week’s main goals, priorities, etc.
    • Habit Tracker: You can write down things you want to turn into habits. It allows you to check a box for each day.

    Each weekly section includes an area where you can write down how you will improve the next week. What did you not do that you should have? How can you improve the next day and week? [bctt tweet="Why do I love the Clever Fox Planner? It’s packed with features: Gratitude & affirmations, vision board, goal-setting tools, weekly reflection, and a habit tracker. It’s everything you need to stay organized and crush your 2025 #goals. #Gratitude #BestInWealth #Planner " username=""] Implement SMART goals I try to record an episode about goal-setting at the beginning of every year and always encourage you to make sure that your goals are SMART:
    • Specific
    • Measurable
    • Achievable
    • Relevant
    • Time-Bound

    Your goal might be to pay off a credit card by the end of the year. Maybe it is to run a half-marathon by June 15th. Here is my challenge: Write out five SMART goals you want to achieve in 2025 (and it...
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    19 m
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