With the 2024 Presidential Election behind us, what's our new President's plan to address voter's #1 issue?

Key Topics:

• Introduction and Election Reflection

• Understanding Inflation: Definitions and Current Rates

• President-elect's Inflation Strategy: Key Points

• Impact of Energy Production on Inflation

• Federal Spending and Deregulation

• Immigration and Housing Costs

• Geopolitical Stability and Inflation

• Tax Policies and Home Ownership Initiatives

• Conclusion: Holding Leaders Accountable

On this episode of CFO at Home, Vince’s guest is Luke Homen, a bankruptcy attorney and founder of Convenient Bankruptcy. Luke and Vince discuss two of the most common forms of bankruptcy, Chapter 7 and Chapter 13, and the importance of understanding the process and potential pitfalls of each. Luke shares insights into the emotional and financial aspects of filing for bankruptcy, and the impact of bankruptcy on aspects of your financial wellness such as credit scores. Luke and Vince also discuss the potential for student loan discharge through bankruptcy, a relatively new and evolving area of law, and the importance of financial literacy post-bankruptcy. For more information about Luke, visit ConvenientBankruptcy.com.

On this episode of CFO at Home, Vince’s discussion is with Jude Wilson, Chief Financial Strategist at Centrus Financial Strategies, about financial planning, specifically for underrepresented communities and the first-generation affluent. They discuss the importance of understanding cash flow versus net worth and the challenges of changing financial mindsets. Jude also shares his personal money journey as the son of Haitian immigrants as well as stories of individuals who have transformed their financial futures through strategic planning. You can learn more about Jude and his work by visiting Centrusfs.com and by listening to The Roth Guy podcast.

With more options available to us than ever, navigating the world of investments can be challenging, whether you’re a new investor just starting out, or a more seasoned investor looking to strike a balance between growth and income. On this episode of CFO at Home, Vince talks with Steven Wagner, from Integrity Wealth Advisors, about the importance of your investment strategy evolving in different stages of life, the psychology of money, the concept behind Lifestyle or Target Date funds, and more. You can learn more about Stephen and Integrity Wealth Advisors by visiting iwaplan.com

Key Takeaways:

• Investment Evolution: Investing strategies should evolve as individuals progress from young entrepreneurs to retirees, with a focus on more aggressive investments in the early stages and a gradual shift to conservative options as retirement approaches.

• 100-Age Rule: The 100-age rule is a guideline for determining the percentage of assets to invest in stocks, but younger investors may benefit from even more aggressive strategies.

• Psychology of Money: Understanding the psychological aspects of investing, such as fear and greed, is crucial for making sound financial decisions and maintaining a long-term perspective.

• Financial Planning: A comprehensive financial plan is essential for identifying short-term and long-term goals, which in turn dictates the appropriate investment strategy.

• Lifestyle Funds: These funds automatically adjust the asset allocation based on the investor’s age and retirement timeline, providing a hands-off approach to managing investments.

• Retirement Planning: As individuals approach retirement, the focus shifts from growth to income and risk management, making professional advice invaluable.

Key Links:

Integrity Wealth Advisors

Integrity Wealth Advisors, Inc. | Facebook

Steven H. Wagner | LinkedIn

Integrity Wealth Advisors | Twitter

steve@iwaplan.com

Contact the Host - vince@thecfoathome.com

Our thoughts, feelings, and emotions about money are key factors in determining our financial success. On this episode of CFO at Home, Vince talks with Pericles Rellas, a money mindset expert who has worked with tens of thousands of people for more than two decades to help them live lives of power, purpose and prosperity, using his concept of the "financial thermostat". They explore how our financial thermostats can dictate our earning and saving behaviors, the four keys to resetting your financial thermostat, and more. You can learn more about Pericles and the Financial Thermostat by visiting PericlesRellas.com

Key Takeaways:

• Financial Thermostat: Our financial thermostat is an internal setting that influences how much money we can earn and keep. It regulates our thoughts, feelings, and emotions about money.

• Understanding Money: Recognizing money as a currency that flows in a circle is crucial. Blocks in the flow of money, whether incoming or outgoing, can impede financial growth.

• Flow Focus: Identifying where your money is going and redirecting it towards intentional goals can empower financial decisions and create a sense of control.

• Prosperity Structure: Instead of a traditional budget, create a prosperity structure that includes all expenses and savings, fostering a mindset of growth rather than limitation.

• Mentoring: Finding a mentor or coach who resonates with you can provide guidance and accountability, helping to shift paradigms and reach financial goals.

Key Links:

• Pericles Rellas

• Pericles Rellas | YouTube

• Pericles Rellas | Facebook

• Contact the Host - vince@thecfoathome.com

On this episode of CFO at Home, the discussion is Side Hustles with Joan Posivy, host of the Side Hustle Hero podcast. Joan and Vince talk about the evolving landscape of side hustles, and she shares her insights on choosing the right side hustle, the importance of matching your side hustle to your personal preferences, the balance between a full-time job and a side hustle, and more. You can learn more about Joan and her work by visiting SideHustleHero.com

Key Takeaways:

• Choosing a Side Hustle: Select a side hustle that matches your personal preferences and work style, whether you prefer working with people or behind a desk.

• Goal Setting: Set clear, realistic goals and give yourself a specific timeframe to evaluate the success of your side hustle.

• Persistence: Many side hustles fail because people give up too soon. Commit to your side hustle for a set period before reevaluating its viability.

• Time Management: Efficiently manage your time by scheduling dedicated hours for your side hustle and minimizing distractions during those periods.

• Financial Planning: Before transitioning your side hustle to a full-time job, ensure you have sufficient savings to support yourself during the initial growth phase.

• Testing and Feedback: Use low-cost methods like farmers markets to test your product and gather feedback before making significant investments.

Key Links:

• Side Hustle Hero

• Side Hustle Hero | Instagram

• Joan Posivy | Facebook

On this episode of CFO at Home, Vince talks with JD Itri, founder of Olympus Money and author of "The Olympus Money Method: How to Gain Financial Freedom in a World Designed to Make You Poor." JD shares his journey from working at Intuit on products like TurboTax and Mint, to developing his own personal finance software, Olympus Money. They discuss the advantages of integrating tax preparation with management of your personal finances, psychological barriers to saving, and ways to streamline your financial management. You can learn more about JD and Olympus Money by visiting OlympusMoney.com

Key Takeaways:

• Integrated Finance: Combining tax preparation with personal finance can provide a more comprehensive view of one's financial health and streamline the tax preparation process.

• Elevated Balance: Instead of granular budgeting, focus on broad categories like savings, investments, and discretionary spending to simplify financial planning.

• Future Self Visualization: Viewing an aged version of yourself can increase savings by making the future feel more personal and immediate.

• Rich Habits: Investing in experiences and relationships can provide more long-term satisfaction than material possessions.

• Target Audience: The book and app are particularly useful for individuals aged 25-45 with household incomes between $75,000 and $250,000 who are looking to take control of their finances without dedicating excessive time.

Key Links:

• Olympus Money

• Olympus Money Method | Instagram

• Contact JD - jd@olympusmoney.com

• Contact the Host - vince@thecfoathome.com

On this episode of CFO at Home, Vince talks with Tim Clifford, author of "Plan Assist: Make Better Financial Decisions," about the importance of having a financial plan, the difference between earning money and accumulating wealth, and the retirement crisis facing many Americans today. They explore the concept of diversification, the role of financial advisors, the significance of both formal and informal financial counsel, and more. You can learn more about Tim and PlanAssist, by going to PlanAssist.com.

Key Takeaways:

• Financial Planning: A simple, clear plan is essential for financial success. It doesn't need to be elaborate; even a one-page plan can make a significant difference.

• Diversification: Diversifying your investments is crucial. This includes a mix of stocks, bonds, and other assets, with a core portfolio and satellite investments for potential growth.

• Seeking Counsel: Both formal and informal advice are important. Understand the biases in informal advice and ensure formal advice is unbiased and in your best interest.

• Retirement Crisis: Many Americans are unprepared for retirement. It's crucial to start planning early and make informed financial decisions to avoid financial stress in later years.

• Education: Financial literacy is key. Seek out resources and educate yourself on financial planning and investment strategies to make better decisions.

Key Links

• Website - PlanAssist

• Email - Info@PlanAssist.comContact the Host - vince@thecfoathome.com