Episoder
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This episode of the Ditch the Suits podcast gives practical financial insights that can significantly impact your money management strategies.
Steve Campbell and Travis Maus emphasize the importance of completing a personal tax assessment, which acts as a mock tax return to identify potential opportunities and gaps in your financial planning.
They also discuss the critical need to revisit your 401(k) contribution strategy, highlighting the risks of overfunding and underfunding these accounts.
The conversation touches on the benefits of Roth conversions, particularly for those who may find themselves in higher tax brackets in the future.
Additionally, the hosts explore the evolving benefits of 529 savings accounts, stressing how they can be utilized for a broader range of educational expenses beyond just college tuition.
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Thanks to our sponsor, S.E.E.D. Planning Group! S.E.E.D. is a fee-only financial planning firm with a fiduciary obligation to put your best interest first. Schedule your free discovery meeting at www.seedpg.com
You can watch all episodes, as well as other great content produced by NQR Media through their YouTube channel at https://youtube.com/@NQRMedia
๐ง For more information or to get in touch with us, visit https://www.ditchthesuits.com
๐๐ผ You can also follow us on Facebook, Instagram and Twitter at @nqrmedia
______________________________________________________________
About Your Co-Hosts:
Travis Maus has been in financial services for over fifteen years. He is a Senior Wealth Manager and Chief Executive Officer at S.E.E.D. Planning Group. Travis also hosts the Unleashing Leadership Podcast, where he dissects some of his favorite books on leadership and how you can apply it to your business or life.
Steve Campbell has over a decade of industry experience and is the Chief Brand Officer at S.E.E.D. Planning Group. Steve also hosts the One Big Thing Podcast, an interview-style show meant to inspire and encourage 30 and 40-year-olds going through difficult seasons of navigating marriage, raising kids, and growing personally.
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This episode focuses on practical financial strategies for preparing for the end of the year and setting yourself up for success in the coming year.
Travis and Steve discuss the importance of revisiting your budget, emphasizing that it should be a flexible tool rather than a rigid constraint.
They introduce the concept of an income-sourcing plan for those approaching retirement, highlighting how to draw from various accounts to optimize tax efficiency effectively.
Additionally, they reveal the hidden benefit of receiving extra paychecks throughout the year, which can be leveraged for debt reduction or savings.
The conversation is packed with actionable insights aimed at helping listeners take control of their financial futures, making it a valuable resource for anyone looking to improve their financial well-being.
______________________________________________________________
Thanks to our sponsor, S.E.E.D. Planning Group! S.E.E.D. is a fee-only financial planning firm with a fiduciary obligation to put your best interest first. Schedule your free discovery meeting at www.seedpg.com
You can watch all episodes, as well as other great content produced by NQR Media through their YouTube channel at https://youtube.com/@NQRMedia
๐ง For more information or to get in touch with us, visit https://www.ditchthesuits.com
๐๐ผ You can also follow us on Facebook, Instagram and Twitter at @nqrmedia
______________________________________________________________
About Your Co-Hosts:
Travis Maus has been in financial services for over fifteen years. He is a Senior Wealth Manager and Chief Executive Officer at S.E.E.D. Planning Group. Travis also hosts the Unleashing Leadership Podcast, where he dissects some of his favorite books on leadership and how you can apply it to your business or life.
Steve Campbell has over a decade of industry experience and is the Chief Brand Officer at S.E.E.D. Planning Group. Steve also hosts the One Big Thing Podcast, an interview-style show meant to inspire and encourage 30 and 40-year-olds going through difficult seasons of navigating marriage, raising kids, and growing personally.
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Manglende episoder?
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In this episode of Ditch the Suits, Steve Campbell and Travis Maus discuss the hidden costs of a high salary.
They emphasize that financial freedom is more than just money and that stress and anxiety can lead to an unfulfilled life.
The conversation explores whether a high salary equates to job satisfaction and personal happiness, the importance of considering the benefits package, and the possibility of making more money by earning less salary.
They also discuss the impact of geography on salary and the need to reframe the conversation around salary and future prospects.
__________________________________________________________
Join our Skool Community at https://www.skool.com/ditch-the-suits-9234. You can interact with us, ask questions and get additional resources.
Thanks to our sponsor, S.E.E.D. Planning Group! S.E.E.D. is a fee-only financial planning firm with a fiduciary obligation to put your best interest first. Schedule your free discovery meeting at www.seedpg.com
You can watch all episodes, as well as other great content produced by NQR Media through their YouTube channel at https://youtube.com/@NQRMedia
๐ง For more information or to get in touch with us, visit https://www.ditchthesuits.com
๐๐ผ You can also follow us on Facebook, Instagram and Twitter at @nqrmedia
______________________________________________________________
About Your Co-Hosts:
Travis Maus has been in financial services for over fifteen years. He is a Senior Wealth Manager and Chief Executive Officer at S.E.E.D. Planning Group.
Steve Campbell has over a decade of experience in the industry and serves as Chief Brand Officer at S.E.E.D. Planning Group.
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In this episode of Ditch the Suits, Steve Campbell and Travis Maus discuss the mistakes people make when selling a house or a business.
They highlight the concept of anchoring bias, where individuals become fixated on a specific number and are unwilling to consider other options.
They provide examples of how this bias can lead to financial losses and missed opportunities. The conversation covers the importance of considering the broader context, such as taxes, terms of the deal, and opportunity costs.
Together, they emphasize the need for a comprehensive understanding of the numbers and the value they represent.
______________________________________________________________
Thanks to our sponsor, S.E.E.D. Planning Group! S.E.E.D. is a fee-only financial planning firm with a fiduciary obligation to put your best interest first. Schedule your free discovery meeting at www.seedpg.com
You can watch all episodes, as well as other great content produced by NQR Media through their YouTube channel at https://youtube.com/@NQRMedia
๐ง For more information or to get in touch with us, visit https://www.ditchthesuits.com
๐๐ผ You can also follow us on Facebook, Instagram and Twitter at @nqrmedia
______________________________________________________________
About Your Co-Hosts:
Travis Maus has been in financial services for over fifteen years. He is a Senior Wealth Manager and Chief Executive Officer at S.E.E.D. Planning Group. Travis also hosts the Unleashing Leadership Podcast, where he dissects some of his favorite books on leadership and how you can apply it to your business or life.
Steve Campbell has over a decade of industry experience and is the Chief Brand Officer at S.E.E.D. Planning Group. Steve also hosts the One Big Thing Podcast, an interview-style show meant to inspire and encourage 30 and 40-year-olds going through difficult seasons of navigating marriage, raising kids, and growing personally.
Chapters
00:00 - Introduction: Mistakes in Selling Homes and Businesses
01:30 - Anchoring Bias and the Struggle with Fixed Numbers
04:15 - The Cost of Inflexibility: Spending More to Get Less
05:49 - The Value of Money: Considering the Broader Context
09:21 - The Difficulty of Valuing and Selling Businesses
14:32 - Understanding the Meaning of the Numbers
19:48 - Lack of Understanding and Unintended Consequences
20:18 - The Opportunity Cost of Holding Out for a Higher Price
23:25 - Overcoming Anchoring Bias and Making Better Decisions
27:06 - Understanding the Value Beyond the Numbers
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Part 2 of the Proposed Tax Policy Grab Bag delves into the potential repercussions of proposed tax legislation that could significantly impact wealth creation and financial mobility, particularly for middle-class individuals and small business owners.
We discuss how changes to capital gains taxes, eliminating the step-up basis at death, and increased taxes on stock buybacks could lead to double taxation and hinder economic growth.
We emphasize the importance of understanding these complex tax policies, as they may affect not only those in high-income brackets but also everyday Americans striving for financial stability.
Our conversation highlights the need for vigilance and proactive financial planning in light of these legislative changes, which could have long-lasting effects on future generations. By unpacking these intricate issues, we hope to empower you to navigate the evolving financial landscape and make informed decisions about your money.
______________________________________________________________
Thanks to our sponsor, S.E.E.D. Planning Group! S.E.E.D. is a fee-only financial planning firm with a fiduciary obligation to put your best interest first. Schedule your free discovery meeting at www.seedpg.com
You can watch all episodes, as well as other great content produced by NQR Media through their YouTube channel at https://youtube.com/@NQRMedia
๐ง For more information or to get in touch with us, visit https://www.ditchthesuits.com
๐๐ผ You can also follow us on Facebook, Instagram and Twitter at @nqrmedia
______________________________________________________________
About Your Co-Hosts:
Travis Maus has been in financial services for over fifteen years. He is a Senior Wealth Manager and Chief Executive Officer at S.E.E.D. Planning Group. Travis also hosts the Unleashing Leadership Podcast, where he dissects some of his favorite books on leadership and how you can apply it to your business or life.
Steve Campbell has over a decade of industry experience and is the Chief Brand Officer at S.E.E.D. Planning Group. Steve also hosts the One Big Thing Podcast, an interview-style show meant to inspire and encourage 30 and 40-year-olds going through difficult seasons of navigating marriage, raising kids, and growing personally.
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This episode delves into the potential impact of proposed tax policy changes that could significantly affect Americans, particularly those making over $400,000, and the broader implications for everyday citizens.
We discuss how these tax changes, including increases on capital gains and the introduction of new taxes, may not only target high earners but could also trickle down to the average person in various ways.
We emphasize the importance of understanding that tax policies can influence the economy as a whole, affecting prices and investment opportunities. We also highlight the misconception that only the wealthy will bear the burden of these tax increases, illustrating how small business owners and individuals experiencing wealth creation events could also face substantial tax liabilities.
We encourage you to stay informed about these changes and consider how they might impact your financial future and the economy at large.
______________________________________________________________
Thanks to our sponsor, S.E.E.D. Planning Group! S.E.E.D. is a fee-only financial planning firm with a fiduciary obligation to put your best interest first. Schedule your free discovery meeting at www.seedpg.com
You can watch all episodes, as well as other great content produced by NQR Media through their YouTube channel at https://youtube.com/@NQRMedia
๐ง For more information or to get in touch with us, visit https://www.ditchthesuits.com
๐๐ผ You can also follow us on Facebook, Instagram and Twitter at @nqrmedia
______________________________________________________________
About Your Co-Hosts:
Travis Maus has been in financial services for over fifteen years. He is a Senior Wealth Manager and Chief Executive Officer at S.E.E.D. Planning Group. Travis also hosts the Unleashing Leadership Podcast, where he dissects some of his favorite books on leadership and how you can apply it to your business or life.
Steve Campbell has over a decade of industry experience and is the Chief Brand Officer at S.E.E.D. Planning Group. Steve also hosts the One Big Thing Podcast, an interview-style show meant to inspire and encourage 30 and 40-year-olds going through difficult seasons of navigating marriage, raising kids, and growing personally.
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This episode into the controversial proposal of taxing unrealized capital gains, a measure that could have far-reaching consequences for individuals and the economy at large.
Hosts Steve Campbell and Travis Maus break down the implications of such a tax, emphasizing that it not only targets the ultra-wealthy but could also negatively impact everyday Americans.
They discuss how taxing assets that have not been sold creates a precarious situation where individuals might be forced to liquidate holdings to pay taxes on hypothetical gains, potentially destabilizing markets and affecting job security. The conversation highlights the ripple effects of such policies, illustrating how they could lead to diminished investment returns and economic uncertainty for all.
By examining real-world scenarios and economic principles, the hosts aim to equip listeners with a clearer understanding of the risks associated with these proposed tax changes.
______________________________________________________________
Thanks to our sponsor, S.E.E.D. Planning Group! S.E.E.D. is a fee-only financial planning firm with a fiduciary obligation to put your best interest first. Schedule your free discovery meeting at www.seedpg.com
You can watch all episodes, as well as other great content produced by NQR Media through their YouTube channel at https://youtube.com/@NQRMedia
๐ง For more information or to get in touch with us, visit https://www.ditchthesuits.com
๐๐ผ You can also follow us on Facebook, Instagram and Twitter at @nqrmedia
______________________________________________________________
About Your Co-Hosts:
Travis Maus has been in financial services for over fifteen years. He is a Senior Wealth Manager and Chief Executive Officer at S.E.E.D. Planning Group. Travis also hosts the Unleashing Leadership Podcast, where he dissects some of his favorite books on leadership and how you can apply it to your business or life.
Steve Campbell has over a decade of industry experience and is the Chief Brand Officer at S.E.E.D. Planning Group. Steve also hosts the One Big Thing Podcast, an interview-style show meant to inspire and encourage 30 and 40-year-olds going through difficult seasons of navigating marriage, raising kids, and growing personally.
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We continue our series by taking a critical look at the proposed taxation of unrealized capital gains, a topic that has stirred considerable debate among financial experts and policymakers.
We initiate the conversation by defining unrealized gainsโthe increase in value of an asset that has not yet been soldโand how the proposed tax would apply primarily to individuals with substantial wealth, specifically those with assets exceeding $100 million. We argue that while the tax might seem targeted at the ultra-wealthy, its implications could have far-reaching effects on the economy and individuals across various financial brackets.
We then pivot and delve into the potential consequences of such a tax, discussing how taxing unrealized gains could force individuals to sell investments to pay tax liabilities, thereby disrupting markets and causing volatility.
We explore the fundamental unfairness of taxing income that has not yet been realized, questioning how this could affect personal financial decisions and overall financial planning.
Additionally, we address the ethical considerations surrounding the enforcement of an unrealized gains tax, particularly the challenges of valuing non-liquid assets and the potential for disputes over asset valuations. We warn of the bureaucratic complexities that would arise from implementing such a tax, including the burden on taxpayers to provide accurate appraisals and the risk of unfair penalties from the IRS.
As we conclude the episode, we emphasize the importance of staying informed and engaged with financial policy discussions, urging all of you to consider how these issues could affect your own financial futures and to prepare accordingly.
______________________________________________________________
Thanks to our sponsor, S.E.E.D. Planning Group! S.E.E.D. is a fee-only financial planning firm with a fiduciary obligation to put your best interest first. Schedule your free discovery meeting at www.seedpg.com
You can watch all episodes, as well as other great content produced by NQR Media through their YouTube channel at https://youtube.com/@NQRMedia
๐ง For more information or to get in touch with us, visit https://www.ditchthesuits.com
๐๐ผ You can also follow us on Facebook, Instagram and Twitter at @nqrmedia
______________________________________________________________
About Your Co-Hosts:
Travis Maus has been in financial services for over fifteen years. He is a Senior Wealth Manager and Chief Executive Officer at S.E.E.D. Planning Group. Travis also hosts the Unleashing Leadership Podcast, where he dissects some of his favorite books on leadership and how you can apply it to your business or life.
Steve Campbell has over a decade of industry experience and is the Chief Brand Officer at S.E.E.D. Planning Group. Steve also hosts the One Big Thing Podcast, an interview-style show meant to inspire and encourage 30 and 40-year-olds going through difficult seasons of navigating marriage, raising kids, and growing personally.
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**We are pausing our current series to bring you five timely episodes surrounding suggested new tax policies**
In this new series, we delve into the complexities of corporate taxation and its implications for individual investors. We argue that while raising taxes on corporations may seem like an attractive solution for increasing government revenue, the actual burden often trickles down to shareholders, employees, and consumers.
This episode highlights the intricate flow of money through corporations, emphasizing that corporations are not standalone entities but rather integral components of the economy that directly impact personal finances. By increasing corporate taxes, the ripple effects can lead to reduced dividends, lower capital appreciation, and higher consumer prices.
We stress the importance of understanding these dynamics, as they affect retirement savings and investment returns, making it crucial for listeners to grasp how such policies could impact their personal financial situations.
______________________________________________________________
Thanks to our sponsor, S.E.E.D. Planning Group! S.E.E.D. is a fee-only financial planning firm with a fiduciary obligation to put your best interest first. Schedule your free discovery meeting at www.seedpg.com
You can watch all episodes, as well as other great content produced by NQR Media through their YouTube channel at https://youtube.com/@NQRMedia
๐ง For more information or to get in touch with us, visit https://www.ditchthesuits.com
๐๐ผ You can also follow us on Facebook, Instagram and Twitter at @nqrmedia
______________________________________________________________
About Your Co-Hosts:
Travis Maus has been in financial services for over fifteen years. He is a Senior Wealth Manager and Chief Executive Officer at S.E.E.D. Planning Group. Travis also hosts the Unleashing Leadership Podcast, where he dissects some of his favorite books on leadership and how you can apply it to your business or life.
Steve Campbell has over a decade of industry experience and is the Chief Brand Officer at S.E.E.D. Planning Group. Steve also hosts the One Big Thing Podcast, an interview-style show meant to inspire and encourage 30 and 40-year-olds going through difficult seasons of navigating marriage, raising kids, and growing personally.
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In this episode of the Ditch the Suits podcast, Steve Campbell and Travis Maus discuss why net worth is the wrong number to track for financial freedom.
They emphasize that financial freedom is not just about money, but also about living a fulfilling life free from stress and anxiety. They explore why people stress about the volatility of their net worth and the value of their future estate.
Travis explains that people's fixation on net worth is rooted in social pressure and the misconception that it determines their worth and flexibility.
They also discuss the difference between price and value and the importance of understanding the true value of assets.
Travis provides insights on how to reframe the conversation around net worth and focus on what really matters, such as educating children about finance, investing for the long term, and preparing heirs to manage wealth responsibly.
__________________________________________________________
Join our Skool Community at https://www.skool.com/ditch-the-suits-9234. You can interact with us, ask questions and get additional resources.
Thanks to our sponsor, S.E.E.D. Planning Group! S.E.E.D. is a fee-only financial planning firm with a fiduciary obligation to put your best interest first. Schedule your free discovery meeting at www.seedpg.com
You can watch all episodes, as well as other great content produced by NQR Media through their YouTube channel at https://youtube.com/@NQRMedia
๐ง For more information or to get in touch with us, visit https://www.ditchthesuits.com
๐๐ผ You can also follow us on Facebook, Instagram and Twitter at @nqrmedia
______________________________________________________________
About Your Co-Hosts:
Travis Maus has been in financial services for over fifteen years. He is a Senior Wealth Manager and Chief Executive Officer at S.E.E.D. Planning Group.
Steve Campbell has over a decade of experience in the industry and serves as Chief Brand Officer at S.E.E.D. Planning Group.
Chapter Markers
Chapter Markers
00:00 - Introduction: Why Net Worth is the Wrong Number to Track
01:02 - Financial Freedom Beyond Money
03:10 - The Impact of Social Pressure on Net Worth
05:27 - Understanding the Difference Between Price and Value
09:18 - Reframing the Conversation: What Really Matters
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In this episode of the Ditch the Suits podcast, Steve Campbell and Travis Maus discuss the question of whether you really need a million dollars to retire.
They explore the concept of financial freedom and how it is not just about money but also about living a fulfilling life. They challenge the idea of setting arbitrary financial goals and emphasize the importance of understanding one's own unique needs and circumstances.
The conversation highlights the societal pressure to compare oneself to others and the need to have a better conversation around what truly matters.
The four main takeaways from the episode are: stop comparing yourself to others on the internet, understand your resources and how they can work for you, focus on cash flow and liabilities, and prioritize financial planning over investment decisions.
__________________________________________________________
Join our Skool Community at https://www.skool.com/ditch-the-suits-9234. You can interact with us, ask questions and get additional resources.
Thanks to our sponsor, S.E.E.D. Planning Group! S.E.E.D. is a fee-only financial planning firm with a fiduciary obligation to put your best interest first. Schedule your free discovery meeting at www.seedpg.com
You can watch all episodes, as well as other great content produced by NQR Media through their YouTube channel at https://youtube.com/@NQRMedia
๐ง For more information or to get in touch with us, visit https://www.ditchthesuits.com
๐๐ผ You can also follow us on Facebook, Instagram and Twitter at @nqrmedia
______________________________________________________________
About Your Co-Hosts:
Travis Maus has been in financial services for over fifteen years. He is a Senior Wealth Manager and Chief Executive Officer at S.E.E.D. Planning Group.
Steve Campbell has over a decade of experience in the industry and serves as Chief Brand Officer at S.E.E.D. Planning Group.
Chapter Markers
00:00 - Introduction: Do You Really Need a Million Dollars to Retire?
09:21 - Chapter 1: Stop Comparing Yourself to Others on the Internet
13:56 - Chapter 2: Understanding Your Resources and How They Can Work for You
19:19 - Chapter 3: Focus on Cash Flow and Liabilities
27:35 - Chapter 4: Prioritize Financial Planning Over Investment Decisions
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In this episode, Steve and Travis discuss the impact of the media on our perception of current events and how it can influence our financial decisions. They highlight the framing techniques used by the media to shape our understanding of issues and the biases that can be present. They also provide examples of how the media has portrayed presidential candidates in the past and the negative tone often used in news coverage. The hosts emphasize the importance of being aware of these influences and taking a rational approach to financial decision-making.
Episode References:
State University of New York - https://courses.lumenlearning.com/atd-monroecc-americangovernment/chapter/the-impact-of-the-media/ Harvard Kennedy School โ Shorenstein Center - https://shorensteincenter.org/patterson-2020-election-coverage/ Brookings Edu - https://www.brookings.edu/articles/is-the-economic-news-becoming-more-negative-and-does-it-matter-for-consumers/________________________________________________________________
Join our Skool Community at https://www.skool.com/ditch-the-suits-9234. You can interact with us, ask questions and get additional resources.
Thanks to our sponsor, S.E.E.D. Planning Group! S.E.E.D. is a fee-only financial planning firm with a fiduciary obligation to put your best interest first. Schedule your free discovery meeting at www.seedpg.com
You can watch all episodes, as well as other great content produced by NQR Media through their YouTube channel at https://youtube.com/@NQRMedia
๐ง For more information or to get in touch with us, visit https://www.ditchthesuits.com
๐๐ผ You can also follow us on Facebook, Instagram and Twitter at @nqrmedia
______________________________________________________________
About Your Co-Hosts:
Travis Maus has been in financial services for over fifteen years. He is a Senior Wealth Manager and Chief Executive Officer at S.E.E.D. Planning Group.
Steve Campbell has over a decade of experience in the industry and serves as Chief Brand Officer at S.E.E.D. Planning Group.
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In this episode, Steve and Travis discuss the impact of inflation and the importance of understanding compound interest. They emphasize that inflation is a real concern and can erode the value of money over time. They explain how compound interest works and how it can help grow wealth. They also highlight the dangers of being too conservative and not taking enough risk to combat inflation. The episode concludes with a discussion on the role of media and news in shaping financial decisions.
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Join our Skool Community at https://www.skool.com/ditch-the-suits-9234. You can interact with us, ask questions and get additional resources.
Thanks to our sponsor, S.E.E.D. Planning Group! S.E.E.D. is a fee-only financial planning firm with a fiduciary obligation to put your best interest first. Schedule your free discovery meeting at www.seedpg.com
You can watch all episodes, as well as other great content produced by NQR Media through their YouTube channel at https://youtube.com/@NQRMedia
๐ง For more information or to get in touch with us, visit https://www.ditchthesuits.com
๐๐ผ You can also follow us on Facebook, Instagram and Twitter at @nqrmedia
______________________________________________________________
About Your Co-Hosts:
Travis Maus has been in financial services for over fifteen years. He is a Senior Wealth Manager and Chief Executive Officer at S.E.E.D. Planning Group.
Steve Campbell has over a decade of experience in the industry and serves as Chief Brand Officer at S.E.E.D. Planning Group.
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In this episode, Steve and Travis discuss the concept of DEI (Diversity, Equity, and Inclusion) and its impact on ESG (Environmental, Social, and Governance) investing. They explain that DEI is a relatively new hot topic and how it has become a part of the socially responsible investing space. They highlight the importance of understanding the definitions of ESG and SRI (Socially Responsible Investing) and how companies are using these concepts for PR purposes. They also discuss the challenges of investing based on trends and the need for individual investors to define their own values and build a portfolio that aligns with those values.
________________________________________________________________
Join our Skool Community at https://www.skool.com/ditch-the-suits-9234. You can interact with us, ask questions and get additional resources.
Thanks to our sponsor, S.E.E.D. Planning Group! S.E.E.D. is a fee-only financial planning firm with a fiduciary obligation to put your best interest first. Schedule your free discovery meeting at www.seedpg.com
You can watch all episodes, as well as other great content produced by NQR Media through their YouTube channel at https://youtube.com/@NQRMedia
๐ง For more information or to get in touch with us, visit https://www.ditchthesuits.com
๐๐ผ You can also follow us on Facebook, Instagram and Twitter at @nqrmedia
______________________________________________________________
About Your Co-Hosts:
Travis Maus has been in financial services for over fifteen years. He is a Senior Wealth Manager and Chief Executive Officer at S.E.E.D. Planning Group.
Steve Campbell has over a decade of experience in the industry and serves as Chief Brand Officer at S.E.E.D. Planning Group.
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In this episode, Steve Campbell and Travis Maus discuss the concept of irreparable harm to your investment portfolio and how to avoid it.
They emphasize the importance of understanding the difference between price and value when making investment decisions. They also highlight the significance of diversification and the correlation coefficient in managing risk and maximizing returns.
The episode concludes with a reminder to seek professional advice and support in implementing these strategies.
________________________________________________________________
Join our Skool Community at https://www.skool.com/ditch-the-suits-9234. You can interact with us, ask questions and get additional resources.
Thanks to our sponsor, S.E.E.D. Planning Group! S.E.E.D. is a fee-only financial planning firm with a fiduciary obligation to put your best interest first. Schedule your free discovery meeting at www.seedpg.com
You can watch all episodes, as well as other great content produced by NQR Media through their YouTube channel at https://youtube.com/@NQRMedia
๐ง For more information or to get in touch with us, visit https://www.ditchthesuits.com
๐๐ผ You can also follow us on Facebook, Instagram and Twitter at @nqrmedia
______________________________________________________________
About Your Co-Hosts:
Travis Maus has been in financial services for over fifteen years. He is a Senior Wealth Manager and Chief Executive Officer at S.E.E.D. Planning Group.
Steve Campbell has over a decade of experience in the industry and serves as Chief Brand Officer at S.E.E.D. Planning Group.
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In this episode, Steve Campbell and Travis Maus discuss the topic of mutual funds and why investors may receive a tax bill even when they lose money. They emphasize the importance of understanding net earnings and how much money actually ends up in your pocket after taxes and fees.
They explain that mutual funds are required to make regular capital gains distributions to shareholders, which can result in unexpected tax bills. They also discuss the concept of diversification and the potential drawbacks of owning multiple mutual funds.
Finally, they suggest that investors consider creating their own personalized portfolios to have more control over their investments and potentially reduce taxes and fees.
________________________________________________________________
Join our Skool Community at https://www.skool.com/ditch-the-suits-9234. You can interact with us, ask questions and get additional resources.
Thanks to our sponsor, S.E.E.D. Planning Group! S.E.E.D. is a fee-only financial planning firm with a fiduciary obligation to put your best interest first. Schedule your free discovery meeting at www.seedpg.com
You can watch all episodes, as well as other great content produced by NQR Media through their YouTube channel at https://youtube.com/@NQRMedia
๐ง For more information or to get in touch with us, visit https://www.ditchthesuits.com
๐๐ผ You can also follow us on Facebook, Instagram and Twitter at @nqrmedia
______________________________________________________________
About Your Co-Hosts:
Travis Maus has been in financial services for over fifteen years. He is a Senior Wealth Manager and Chief Executive Officer at S.E.E.D. Planning Group.
Steve Campbell has over a decade of experience in the industry and serves as Chief Brand Officer at S.E.E.D. Planning Group.
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In this episode, Steve Campbell and Travis Maus continue their series on improving net earnings. They discuss the importance of understanding and evaluating investment fees.
They explain the different types of investment fees, including sales commissions, product fees, management fees, transaction fees, and advice fees. They emphasize the need to be aware of the fees you are paying and to determine if they are worth the value you are receiving.
They also highlight the potential savings that can be achieved by reducing investment fees and provide tips for evaluating and negotiating fees with financial professionals.
________________________________________________________________
Join our Skool Community at https://www.skool.com/ditch-the-suits-9234. You can interact with us, ask questions and get additional resources.
Thanks to our sponsor, S.E.E.D. Planning Group! S.E.E.D. is a fee-only financial planning firm with a fiduciary obligation to put your best interest first. Schedule your free discovery meeting at www.seedpg.com
You can watch all episodes, as well as other great content produced by NQR Media through their YouTube channel at https://youtube.com/@NQRMedia
๐ง For more information or to get in touch with us, visit https://www.ditchthesuits.com
๐๐ผ You can also follow us on Facebook, Instagram and Twitter at @nqrmedia
______________________________________________________________
About Your Co-Hosts:
Travis Maus has been in financial services for over fifteen years. He is a Senior Wealth Manager and Chief Executive Officer at S.E.E.D. Planning Group.
Steve Campbell has over a decade of experience in the industry and serves as Chief Brand Officer at S.E.E.D. Planning Group.
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In this episode, Steve and Travis discuss the importance of understanding tax codes and the types of investment accounts.
They emphasize the need to educate oneself about the tools available and how to use them to increase net earnings. They categorize accounts into retirement tax-advantaged accounts, annuities, and regular investment accounts. They also highlight the significance of considering factors such as age, risk, and product limitations when making investment decisions.
The episode concludes with a reminder to have a comprehensive financial plan that guides investment choices.
________________________________________________________________
Join our Skool Community at https://www.skool.com/ditch-the-suits-9234. You can interact with us, ask questions and get additional resources.
Thanks to our sponsor, S.E.E.D. Planning Group! S.E.E.D. is a fee-only financial planning firm with a fiduciary obligation to put your best interest first. Schedule your free discovery meeting at www.seedpg.com
You can watch all episodes, as well as other great content produced by NQR Media through their YouTube channel at https://youtube.com/@NQRMedia
๐ง For more information or to get in touch with us, visit https://www.ditchthesuits.com
๐๐ผ You can also follow us on Facebook, Instagram and Twitter at @nqrmedia
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About Your Co-Hosts:
Travis Maus has been in financial services for over fifteen years. He is a Senior Wealth Manager and Chief Executive Officer at S.E.E.D. Planning Group.
Steve Campbell has over a decade of experience in the industry and serves as Chief Brand Officer at S.E.E.D. Planning Group.
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In this episode, Travis and Steve discuss when to fund a Roth IRA and when not to.
They emphasize the importance of understanding net earnings and the framework of financial projections. They explain the difference between a Roth IRA and a traditional IRA, highlighting the tax benefits and implications of each.
They also discuss asset location and how it can optimize tax efficiency.
The key takeaway is that financial planning should consider individual circumstances and future tax brackets to determine the best strategy for funding a Roth IRA.
________________________________________________________________
Join our Skool Community at https://www.skool.com/ditch-the-suits-9234. You can interact with us, ask questions and get additional resources.
Thanks to our sponsor, S.E.E.D. Planning Group! S.E.E.D. is a fee-only financial planning firm with a fiduciary obligation to put your best interest first. Schedule your free discovery meeting at www.seedpg.com
You can watch all episodes, as well as other great content produced by NQR Media through their YouTube channel at https://youtube.com/@NQRMedia
๐ง For more information or to get in touch with us, visit https://www.ditchthesuits.com
๐๐ผ You can also follow us on Facebook, Instagram and Twitter at @nqrmedia
______________________________________________________________
About Your Co-Hosts:
Travis Maus has been in financial services for over fifteen years. He is a Senior Wealth Manager and Chief Executive Officer at S.E.E.D. Planning Group.
Steve Campbell has over a decade of experience in the industry and serves as Chief Brand Officer at S.E.E.D. Planning Group.
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Want to get in touch? Send us a text!
In this episode, Steve and Travis discuss three ideas to supercharge your charitable donations and save on taxes.
The first idea is to use a donor-advised fund (DAF) to group your charitable donations together and take a larger deduction.
The second idea is to donate highly appreciated stocks instead of cash, which allows you to avoid capital gains taxes.
The third idea is to make qualified charitable distributions (QCDs) from your IRA, which can offset your required minimum distributions (RMDs) and reduce your taxable income.
These strategies can help you maximize your charitable deductions and keep more money in your pocket. #taxes #charitabledonations #taxplanning
________________________________________________________________
Join our Skool Community at https://www.skool.com/ditch-the-suits-9234. You can interact with us, ask questions and get additional resources.
Thanks to our sponsor, S.E.E.D. Planning Group! S.E.E.D. is a fee-only financial planning firm with a fiduciary obligation to put your best interest first. Schedule your free discovery meeting at www.seedpg.com
You can watch all episodes, as well as other great content produced by NQR Media through their YouTube channel at https://youtube.com/@NQRMedia
๐ง For more information or to get in touch with us, visit https://www.ditchthesuits.com
๐๐ผ You can also follow us on Facebook, Instagram and Twitter at @nqrmedia
______________________________________________________________
About Your Co-Hosts:
Travis Maus has been in financial services for over fifteen years. He is a Senior Wealth Manager and Chief Executive Officer at S.E.E.D. Planning Group.
Steve Campbell has over a decade of experience in the industry and serves as Chief Brand Officer at S.E.E.D. Planning Group.
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