Best In Wealth Podcast Podcast Por Scott Wellens arte de portada

Best In Wealth Podcast

Best In Wealth Podcast

De: Scott Wellens
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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 Crianza y Familias Economía Finanzas Personales Relaciones
Episodios
  • The Truth About Bitcoin, Gold, and Safe Investing Strategies, Ep #261

    The Truth About Bitcoin, Gold, and Safe Investing Strategies, Ep #261
    Jul 18 2025
    Bitcoin and gold are two assets often hailed as safe havens and reliable stores of value. I explore whether bitcoin and gold really deliver the security investors hope for, or if, instead, they’re more about speculation than true investment. I’m helping you to look at the hard data and science behind financial decisions. Whether you’re curious about market volatility or searching for a dependable way to safeguard your wealth, this episode is packed with practical insights about the pros and cons of investing in Bitcoin or gold. Outline of This Episode
    • [06:05] Bitcoin and gold are speculative, limited by supply and demand.
    • [09:29] Bitcoin is an unreliable store of value.
    • [13:57] Volatility and diversification in investing.
    • [16:58] Is gold really a safe haven for your money?
    • [20:18] Gold commercials push for sales due to high commissions, not safety.
    • [22:30] Investing relies on data and science to build successful portfolios, focusing on controlling taxes, expenses, and risk.

    Finding Safe Havens for Your Money What makes you feel secure? Fresh from a nine-night family trip to a volleyball tournament in Dallas, I’ve realised that my real safe haven isn’t a lockbox or a password, it’s my home and the daily routine I return to. More than that, his family represents his ultimate store of value, the core “asset” he’s committed to nurturing year after year. For me, investing is just one facet of a broader stewardship, protecting not only wealth but also the relationships and routines that bring lasting fulfillment. Bitcoin is a Volatile Gamble Clients often ask me, “Can Bitcoin act as a reliable store of value?” so I’ve dug into the numbers. Since 2010, the annualized volatility of Bitcoin has been a staggering 76.9%, nearly five times greater than the already-risky Russell 3000 index, which clocks in at 15.8%. Over the same period, Bitcoin has endured 27 separate 10% drops, 10 plunges of 30% or more, and five catastrophic 70% crashes. By contrast, the mainstream US stock market has only seen six 10% drops and a single 30% drawdown. Investing in bitcoin with this type of volatility is not a store of value. Investing in Bitcoin is speculation. The wild swings may excite thrill-seekers, but anyone seeking stability is likely to be disappointed. Gold as a Safe Haven What about gold, the classic safe-haven asset? Gold has enjoyed some positive years, up 60% of the time since 1970, but it's hardly a guarantee. That means in roughly four out of every ten years, gold investors have faced losses. Meanwhile, the S&P 500, ironically, the very market from which gold investors typically flee, has delivered positive returns 80% of those years. Plus, the marketing of gold is driven by high-commission sales tactics, not genuine concern for investor safety. Beware of those “buy gold now” ads; they exist to line the pockets of sellers, not to deliver real security to buyers. The Science of Investment Security Rather than...
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    25 m
  • Common Retirement Myths You Shouldn’t Fall For, Ep #260

    Common Retirement Myths You Shouldn’t Fall For, Ep #260
    Jun 13 2025
    Let’s unpack six of the top retirement misconceptions, from whether it's okay to splurge in retirement, to the necessity of paying off your mortgage before you retire, and the real risks that retirees face beyond just a stock market crash. With a focus on helping family stewards make smart decisions for a secure financial future, I share practical advice, real-life scenarios, and encouragement to help you confidently prepare for and enjoy your retirement years. If you want to separate fact from fiction and build a retirement plan that truly fits your life and goals, then this episode is for you. Outline of This Episode
    • [04:45] Debunking common myths.
    • [09:43] Donate now for tax benefits and immediate impact.
    • [10:54] Spending in retirement is encouraged to enjoy life and create memories, rather than hoarding savings.
    • [17:34] Diversified portfolios mitigate financial risk during market downturns.
    • [20:12] Stay vigilant against fraud by protecting your personal information.

    How Rethinking Retirement Myths Can Help You Build Wealth, Live Generously, and Enjoy a Fulfilling Retirement Retirement is often framed as the finish line in your financial journey, but the path leading up to and through that milestone is cluttered with well-intentioned advice, social media sound bites, and downright misleading myths. As Scott Wellens, certified financial planner and host of the Best in Wealth podcast, points out in episode 260, it’s time for successful family stewards to challenge conventional wisdom and make decisions grounded in reality, not rumors. Let’s unpack and expand on six of the most common retirement myths, using Scott’s insights to guide your way toward a smarter, more satisfying retirement. Myth #1: “It’s Not Okay To Do a Big Splurge” Many savers believe that a single splurge in retirement, a long-awaited RV, a dream vacation, or a lavish family gathering, could derail their entire retirement plan. If you’ve saved diligently and want to use a portion for a one-time purchase, the impact on your annual withdrawal can be minimal. For those following the “4% rule," buying a $50,000 RV from a $3 million portfolio reduces sustainable annual withdrawals by only about $2,000, a small sacrifice for a lifelong dream. Retirement is about enjoying the fruits of your labor. With proper planning and a clear understanding of your cash flows, strategic splurges are not only possible but can enrich your retirement experience. Myth #2: “It’s Best to Leave Money to Charity After Death” It’s noble to want to support causes after you’re gone, but waiting to give can rob you of witnessing the impact your generosity brings. Giving while alive has both tangible and intangible benefits: not only do you receive immediate tax deductions and may reduce potential estate taxes, but you also get a front-row seat to the good your money is doing. A thoughtful plan lets you balance living well and giving generously today, maximizing both legacy and personal fulfillment. Myth #3: “You Should Spend Less in...
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    24 m
  • The Secret to Thriving Between Midlife and Retirement, Ep #259

    The Secret to Thriving Between Midlife and Retirement, Ep #259
    May 16 2025
    In this episode, inspired by my own family life, I’m exploring the "holy trinity of assets": time, health, and money. Financial wealth alone does not guarantee a fulfilling future; you also need to be intentional about your health and your relationships. I share practical ways to extend the magical period of life where you can enjoy all three assets, without sacrificing your well-being in the pursuit of wealth. Tune in to hear my strategies for prioritizing your health, making the most of your time, and building wealth that enriches every stage of life. Get ready to rethink your priorities and be inspired to make changes that will let you enjoy not just a long life, but a long life full of vitality and purpose. Outline of This Episode
    • [00:00] My perspective on how to prepare for life's best stage
    • [05:35] The first stage of Life is youth: abundant time and health, but little money
    • [09:35] Stage two: Prioritize health over wealth, but balance both
    • [11:15] Focus on the big health priorities: exercise, eat better, and sleep better
    • [16:03] How to spend when markets are chaotic
    • [19:44] Prioritize key aspects of life to improve well-being

    When you think about building wealth and securing your future, what comes to mind? For most, it's a picture filled with investment portfolios, retirement accounts, and property. But money is just one piece of a much larger puzzle. To truly thrive and make the most of our time on earth, we must learn to value and actively nurture not just financial assets but also our time and our health. The Three Stages of Life: Youth, Midlife, and Old Age Tony Isola’s article, "The Holy Trinity of Assets," divides life into three main stages:
    1. Youth:

    This is a period rich with time and health. As kids, we possess endless energy and countless hours to fill, even if we’re broke. Despite lacking financial resources, we’re wealthy in ways money can't buy.
    1. Midlife:

    For many, midlife brings growing financial stability and, often, good health. The catch? Time becomes scarce. Pursuing career goals, raising families, and climbing the professional ladder quickly fill our calendars.
    1. Old Age:

    Retirement can bring a return of time and (hopefully) sufficient money. However, health often begins to slip. The dreams of finally enjoying life can be hampered by physical limitations that decades of neglect may have fostered. There's a magical, fleeting window between midlife and old age when you can possess all three assets: health, time, and money. The real goal is to extend this stage as long as possible. Actionable Strategies for Extending the Best Stage We need to be disciplined and intentional to maximize this golden intersection of good health, time, and wealth. Here’s how: Prioritize Your Health Like Your Money. Many high achievers invest tirelessly in growing their financial resources, but your health deserves the same, if not more, attention. When illness...
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    21 m
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