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AB Ridgeway delves into the recent news of Bronny James, son of NBA legend LeBron James, being drafted by the Los Angeles Lakers. This episode explores the implications of this high-profile draft pick, the potential for LeBron James' free agency decision, and the broader themes of family legacy and influence within professional sports. Ridgeway connects these themes to Christian values, emphasizing the importance of guiding and preparing the next generation.
Key Takeaways:
The Significance of Bronny James' Draft: The drafting of Bronny James by the Los Angeles Lakers is not just a sports story but a narrative of family legacy and strategic planning. LeBron James has expressed his desire to play with his son, and this draft selection could be a culmination of that dream. It’s a unique moment in sports history that highlights the blending of personal and professional aspirations.LeBron's Influence on Team Decisions: LeBron James has a well-documented history of influencing team compositions to suit his goals. His ability to generate significant revenue and his stature in the league provide him with a unique form of power. This situation with his son being drafted by the Lakers showcases his continuing influence on NBA dynamics, reinforcing the idea that financial and personal interests often intersect in professional sports.The Role of Nepotism in Professional Sports: Ridgeway discusses the controversial aspect of nepotism, suggesting that Bronny's draft by the Lakers might be more about family ties than merit alone. This scenario opens up a broader conversation about the ethical implications of nepotism in sports and other professional fields, encouraging listeners to think critically about fairness and privilege.The Importance of Family Guidance: Drawing on Proverbs 22:6, Ridgeway emphasizes the importance of parents guiding their children’s paths. LeBron’s involvement in Bronny’s career is a modern-day example of this biblical principle. It showcases how parents can instill values and skills that help their children succeed in their chosen fields, blending professional mentorship with familial love.Financial and Career Planning for the Next Generation: Ridgeway uses the James family's story to highlight the importance of preparing the next generation for future challenges. He encourages listeners to integrate their children into their work life, teaching them financial literacy and professional skills early on. This proactive approach ensures that children are well-equipped to navigate the complexities of adult life.Quotes:
"When you control the money, you control the power, and you get to make those decisions.""Train up a child in the way he should go and when he's old, he will not depart from it." - Proverbs 22:6"This is going to be one of the most monumental and biggest draws in history to see LeBron James and his son play together."💵Sign up for a Christian Finance Consultation and create your Financial Plan Today!
https://calendly.com/abridgewaywm/consultation
*Disclaimer: This communication is not intended as an offer or solicitation to buy, hold or sell any financial instrument or investment advisory services. Any information provided has been obtained from sources considered reliable, but we do not guarantee the accuracy or the completeness of any description of securities, markets or developments mentioned. This is strictly for information purposes. We recommend you speak with a professional financial advisor.
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A.B. Ridgeway discusses the highly anticipated debate between President Joe Biden and former President Donald Trump. Ridgeway explores the implications of their economic policies, particularly on Christian financial health. He highlights the significant issue of debt plaguing many Christians and delves into practical solutions for debt management and financial literacy.
Key Takeaways:
High-Stakes Political Debate: The episode begins by setting the stage for the first in-person debate of the 2024 election cycle between President Biden and former President Trump. This debate is significant due to its unique rules and high stakes, with candidates addressing crucial issues like immigration and the economy. The format includes strict regulations such as muted microphones and no props, ensuring a focused discussion on policy.Impact of Debt on Christians: Ridgeway emphasizes the substantial impact of debt on the Christian community. He notes that a significant portion of Christians struggle with non-mortgage debt, with some carrying burdens as high as $100,000. This financial strain affects their families, jobs, and communities, highlighting the need for better debt management and financial literacy.Financial Literacy and Debt Management: The episode stresses the importance of financial literacy in tackling debt. Ridgeway points out that while reducing credit card fees may seem beneficial, it often leads to higher interest rates, ultimately harming consumers. He advocates for comprehensive debt reduction strategies, including paying down high-interest debts with low-yield assets to achieve a net positive financial position.Long-Term Financial Planning: Ridgeway discusses the significance of long-term financial planning, particularly in the context of high-interest loans. He shares an example of helping a client reduce interest payments on an RV loan by reallocating assets. This approach underscores the need for a strategic plan to minimize debt and maximize financial health.Call for Financial Education: The episode concludes with a call to action for increased financial education. Ridgeway urges listeners to prioritize understanding their finances and to seek resources, such as his blog on financial stress, to improve their financial literacy. He highlights the necessity of informed decision-making to combat the pervasive issue of debt in the Christian community.Quotes:
"Our country is run on a democracy, not a dictatorship. So whoever is in office, there is still what they call checks and balances.""Debt is like holding a 10-pound weight over your head. The longer we hold this debt, the harder it is to manage, and the more pain it causes in our life.""Financial literacy is at an all-time low in this country. When you're paying $400 for something that only costs $200, it's clear that we need to understand our finances better."💵Sign up for a Christian Finance Consultation and create your Financial Plan Today!
https://calendly.com/abridgewaywm/consultation
*Disclaimer: This communication is not intended as an offer or solicitation to buy, hold or sell any financial instrument or investment advisory services. Any information provided has been obtained from sources considered reliable, but we do not guarantee the accuracy or the completeness of any description of securities, markets or developments mentioned. This is strictly for information purposes. We recommend you speak with a professional financial advisor.
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Using the example of the rivalry between WNBA stars Caitlin Clark and Angel Reese, he explores how financial disparities and societal expectations shape perceptions and behavior in sports. Ridgeway connects these issues to a biblical perspective, referencing 1 Timothy 6:10 to discuss the moral implications of the love of money.
The Love of Money and Evil: Ridgeway emphasizes that 1 Timothy 6:10 is often misquoted, clarifying that it's the love of money, not money itself, that is the root of all kinds of evil. This distinction is crucial, as it focuses on the individual's intent and actions regarding wealth, rather than the wealth itself. Money can be used for good or bad, depending on the holder's character.WNBA Pay Gap and Financial Struggles: The WNBA's financial challenges highlight broader issues of gender inequality in sports. Despite the excitement and talent displayed by players like Caitlin Clark and Angel Reese, the league has struggled to turn a profit. Ridgeway points out that both men and women watch men's sports more, suggesting a need for a cultural shift in support for women's sports.Marketing and Merchandise Issues: Effective marketing is crucial for the WNBA's growth. Ridgeway notes the missteps in merchandise sizing and marketing strategies that fail to target the right audience. The success of individual players in generating revenue underscores the importance of marketability and personal branding in sports.Racial and Social Dynamics: The rivalry between Clark and Reese is often framed in racial terms, which Ridgeway argues is a distraction driven by media narratives seeking drama. He suggests that the real issue is talent and marketability, not race, and that creating racial tension is a strategy to drive viewership and engagement, albeit an ethically questionable one.The Role of Talent and Performance: Ultimately, Ridgeway argues that talent and performance should drive viewership and financial support in sports. He compares the excitement of high-level competition, as seen in men's sports, to the fundamental but less flashy gameplay in women's sports, advocating for recognition based on merit rather than manufactured drama.Quotes
"Money is a reflection of the holder. If you're a good person, you do good things with money. If you're a bad person, you do bad things with your money.": "Why aren't women watching women's sports, supporting them, wearing their jerseys, wearing their shoes? We need to create a cultural shift to support our female athletes." "They're sacrificing the image of these two young ladies for money, turning them into a good versus evil storyline. This isn't about race; it's about talent and the need for drama to sell stories."💵Sign up for a Christian Finance Consultation and create your Financial Plan Today!
https://calendly.com/abridgewaywm/consultation
📞 Have a question for the show? Email us at: [email protected]
*Disclaimer: This communication is not intended as an offer or solicitation to buy, hold or sell any financial instrument or investment advisory services. Any information provided has been obtained from sources considered reliable, but we do not guarantee the accuracy or the completeness of any description of securities, markets or developments mentioned. This is strictly for information purposes. We recommend you speak with a professional financial advisor.
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With billions of dollars sitting unclaimed in state treasuries, you could be missing out on money that rightfully belongs to you. On this episode, I break down the process of finding and claiming this money and offering practical steps to ensure you're not leaving any of your financial assets behind. Tune in to learn how to secure your financial future and recover what’s yours.
Key Takeaways:
Understanding Unclaimed Property: Unclaimed property refers to money or assets owed to you by businesses, financial institutions, or the government that you haven't collected. This can include forgotten bank accounts, uncashed checks, or insurance refunds. Knowing how to search for and claim this property can significantly enhance your financial well-being.State-Specific Searches: Each state in the U.S. has its own unclaimed property website. If you've lived in multiple states, it's crucial to check each one. Be wary of scams; always look for official government websites with ".gov" extensions to ensure you're accessing legitimate information.Simple Claiming Process: Claiming your unclaimed property is straightforward. Start by searching your state's unclaimed property website, entering your personal information, and following the verification steps. Documentation to prove your identity and address will be required, but the process is generally quick and user-friendly.Regular Checks Are Beneficial: Regularly checking for unclaimed property can be beneficial. Even small amounts like refunds from misspelled names or incorrect addresses can add up. Jimmy recommends making this a yearly habit to ensure you’re not missing out on any potential funds.Financial Planning Importance: Incorporating unclaimed property searches into your financial planning can reveal overlooked assets and prevent future losses. By understanding and managing your finances thoroughly, you can maximize your financial health and ensure you're not leaving money on the table.Quotes:
"If a business, financial institution, or government owes you money that you did not collect, this is considered unclaimed money or property.""Each state has different URLs, but it should contain the state name or abbreviation with the extension G O V.""To claim your property is very simple. You enter your contact information like your name, address, birthday, social security number, and verify that it is actually you."For more detailed instructions and step-by-step guidance, visit our blog at:
Claim Your Unclaimed Property: How To Find Your Money
Make sure to share this episode with friends and family to help them reclaim their unclaimed property too!
💵Sign up for a Christian Finance Consultation and create your Financial Plan Today!
https://calendly.com/abridgewaywm/consultation
📞 Have a question for the show? Email us at: [email protected]
*Disclaimer: This communication is not intended as an offer or solicitation to buy, hold or sell any financial instrument or investment advisory services. Any information provided has been obtained from sources considered reliable, but we do not guarantee the accuracy or the completeness of any description of securities, markets or developments mentioned. This is strictly for information purposes. We recommend you speak with a professional financial advisor.
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We all are going to die. But not all of us are preparing our families for it. And that is just sad. Because they need you to have your affairs in order. Or they will have to carry that burden on top of their already hard life, including losing someone so special to them.
So preparing for death is not just spiritual, but also financial. Preparation can help to avoid leaving behind a legacy of chaos and conflict. Ridgeway shares a poignant story about a family torn apart due to lack of proper financial planning, highlighting the necessity of having an estate plan, medical directives, and appointing trustworthy executors.
Importance of Estate PlanningEstate planning is crucial to avoid family disputes and ensure your wishes are respected. Without a clear plan, your family might face legal battles and emotional stress. Ridgeway's story of a family conflict underscores how a lack of preparation can lead to broken relationships.Medical Directives and End-of-Life DecisionsA medical directive is a vital component of an estate plan. It provides clear instructions on medical interventions in case of severe illness. This can prevent unnecessary stress and disagreements among family members during difficult times, ensuring that your medical wishes are honored.Appointing a Trustworthy ExecutorThe power of attorney ceases at death, making it essential to appoint an executor. This person will handle your estate according to your wishes. Ridgeway highlights that this role often falls to a spouse or close family member, but choosing the right person can prevent future conflicts and ensure smooth execution of your estate.Educating and Preparing SuccessorsPreparing your heirs to manage their inheritance is crucial. Ridgeway suggests educating them about financial management to avoid squandering the estate. This preparation helps ensure that your legacy is preserved and that your heirs are capable of handling their newfound responsibilities.Quotes
"If you don't do these three things before you die, you may give birth to a generation of sin including lying, stealing, and even death.""Estate planning usually comes with what they call a medical directive. In that medical directive, you tell the doctors what to do in certain medical situations.""When you make someone a beneficiary, think about this: you don't have to notify them of the amount. You could just put them on the policy or bank account, but be careful because depending on the account and how they are listed, you may be giving them more assets than you feel comfortable with."💵Sign up for a Christian Finance Consultation and create your Financial Plan Today!
https://calendly.com/abridgewaywm/consultation
📞 Have a question for the show? Email us at: [email protected]
*Disclaimer: This communication is not intended as an offer or solicitation to buy, hold or sell any financial instrument or investment advisory services. Any information provided has been obtained from sources considered reliable, but we do not guarantee the accuracy or the completeness of any description of securities, markets or developments mentioned. This is strictly for information purposes. We recommend you speak with a professional financial advisor.
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Today we discuss the recent proposal by the US Treasury Department to close a major tax loophole for wealthy taxpayers, aiming to raise $50 billion over the next decade. He emphasizes the importance of understanding the true impact of such policies and the division they create among citizens. Ridgeway critiques the government's approach and encourages listeners to seek financial wisdom and unity in their Christian faith.
Understanding Tax Loopholes:The US Treasury's proposal targets the practice of partnership bias shifting, where assets are moved among related parties to avoid taxes. This method has become common due to years of underfunding the IRS, resulting in less oversight of wealthy individuals. By closing this loophole, the government hopes to raise significant revenue, but it also highlights the imbalance in tax audits focused more on the average citizen.Division and Hierarchy:Drawing parallels with the Willie Lynch letter, Ridgeway discusses how division and hierarchy are used to control and manipulate. He warns against falling into the trap of viewing the wealthy as enemies and stresses that such divisions distract from addressing the real issues. Unity and understanding are key to overcoming these societal divides.Christian Perspective on Wealth:As Christians, Ridgeway urges listeners to consider how they view wealth and taxes. He emphasizes that being rich in spirit and righteous in action should be the focus, rather than harboring resentment towards the wealthy. Understanding and compassion are essential in navigating financial and social issues.Taking Advantage of Legal Tax Strategies:Ridgeway highlights the importance of utilizing legal tax strategies, such as contributing to IRAs and 401(k)s, to reduce taxable income and save money. These strategies are available to everyone, not just the wealthy. He encourages listeners to educate themselves or consult professionals to maximize their financial benefits and ensure they are not unfairly burdened by taxes.Quotes
"The government wants you to believe the wealthy are the enemy, but in reality, the real issue is how the government misappropriates the taxes they collect.""We are in an era of tribalism where if you are not like us, you are the enemy. And I am pretty much sick of it.""As Christians, we need to focus on being rich in spirit and righteous in action. There is only one side that matters—God's side."💵Sign up for a Christian Finance Consultation and create your Financial Plan Today!
https://calendly.com/abridgewaywm/consultation
Next Steps
📞 Have a question for the show? Email us at: [email protected]
🏠 Visit our Website: https://www.abrwealthmanagement.com
*Disclaimer: This communication is not intended as an offer or solicitation to buy, hold or sell any financial instrument or investment advisory services. Any information provided has been obtained from sources considered reliable, but we do not guarantee the accuracy or the completeness of any description of securities, markets or developments mentioned. This is strictly for information purposes. We recommend you speak with a professional financial advisor.
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In this episode, host AB Ridgway shares a personal story about his childhood fear surrounding the bedtime prayer "Now I Lay Me Down to Sleep," leading to an important discussion on the importance of financial planning and the legacy we leave behind.
Key Takeaways:
The Power of Instructions: Instructions are essential in various aspects of life, from taking care of a wound to managing finances. Just like how medical professionals provide care instructions post-surgery, individuals must leave clear financial instructions to ensure their loved ones are well taken care of in their absence.Facing the Reality of Death: Ridgway emphasizes that death is an inevitable reality that we must prepare for. Avoiding the topic does not mitigate its impact. Instead, planning for it by leaving clear financial instructions can provide peace of mind and stability for our families.The Importance of Financial Instructions: Writing down financial instructions is crucial. Ridgway advises against recording sensitive details like account numbers in insecure locations. Instead, he suggests creating a framework of financial wishes and storing it securely, ensuring that those left behind can access and execute these plans effectively.Consequences of Neglecting Financial Planning: Ridgway shares a poignant story of a client who failed to update her beneficiaries, resulting in her son-in-law, whom she disliked, inheriting her estate. This example underscores the potential pitfalls and unintended consequences of neglecting to update and specify financial plans.Taking the First Step: Even simple instructions can have a significant impact. Ridgway illustrates how a few sentences outlining basic wishes can guide a financial advisor to create a comprehensive plan. This initial step is critical in ensuring that one’s financial legacy aligns with their intentions.Quotes:
"Death is a reality that we all have to face, and we can't just put our heads under the covers and hope that we will be okay in the morning.""When you leave good instructions and have an executor follow those instructions as written, you will have more success."💵Sign up for a Christian Finance Consultation and create your Financial Plan Today!
https://calendly.com/abridgewaywm/consultation
Next Steps
📞 Have a question for the show? Email us at: [email protected]
🏦 Download our Free E-book- https://www.abrwealthmanagement.com/freechristianfinancebook
🏠 Visit our Website: https://www.abrwealthmanagement.com
*Disclaimer: This communication is not intended as an offer or solicitation to buy, hold or sell any financial instrument or investment advisory services. Any information provided has been obtained from sources considered reliable, but we do not guarantee the accuracy or the completeness of any description of securities, markets or developments mentioned. This is strictly for information purposes. We recommend you speak with a professional financial advisor.
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AB Ridgeway returns from a brief hiatus to share exciting updates and improvements to the podcast and website. He emphasizes the goal of the podcast: to teach listeners to be rich in spirit and righteous in action, regardless of their financial status.
Ridgeway discusses the importance of making financial information easily accessible and announces new resources, such as blogs and downloadable financial planning tools.
Key Takeaways
Improved User Experience: AB Ridgeway has been working diligently to enhance the podcast and website experience. The goal is to make financial information accessible and actionable, whether you're listening on Apple Podcasts, Spotify, or the website. The updated site now includes blogs, tools, and resources to complement each episode, providing a comprehensive learning experience.Balancing Life and Finances: Ridgeway highlights the common struggles of busy executives and parents, such as balancing work and family life. Through practical examples, like choosing a family-friendly vehicle, he emphasizes that financial decisions should align with personal and familial needs, regardless of income level.Actionable Financial Planning: The podcast stresses the importance of breaking down complex financial plans into manageable steps. Ridgeway suggests focusing on three immediate actionable items to avoid feeling overwhelmed. This approach helps clients make steady progress towards their financial goals.Educational Resources: To support listeners' financial journeys, the podcast offers various free resources on the website, including investment review guidelines and decision-making flowcharts. These tools are designed to empower individuals to make informed financial decisions independently.Community Engagement: Ridgeway encourages listener feedback and interaction. By commenting, sharing, and engaging with the content, listeners not only improve their own financial literacy but also help shape the direction of the podcast. This community-driven approach ensures the content remains relevant and valuable.Quotes
"My goal of this podcast is to teach you how to be rich in spirit and righteous in action at any income level.""No matter how much money that you have, inflation affects everyone... policies that are passed by our nation can affect everyone, good or bad."🌍 New Website: https://www.abrwealthmanagement.com/podcast
⛪Free Christian Resources: https://www.abrwealthmanagement.com/financial-planning-resources
💵Sign up for a Christian Finance Consultation and create your Financial Plan Today!
https://calendly.com/abridgewaywm/consultation
📞 Have a question for the show? Email us at: [email protected]
*Disclaimer: This communication is not intended as an offer or solicitation to buy, hold or sell any financial instrument or investment advisory services. Any information provided has been obtained from sources considered reliable, but we do not guarantee the accuracy or the completeness of any description of securities, markets or developments mentioned. This is strictly for information purposes. We recommend you speak with a professional financial advisor.
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In this episode of "Financial Advisors Say the Darnedest Things," host AB Ridgeway explores the concept of wealth and what it truly means to be rich. He challenges listeners to rethink their perceptions of money and self-worth, emphasizing that the idea of being "rich" is highly subjective and influenced by our backgrounds and environments. Ridgeway also delves into the importance of aligning one's financial goals with their values and the potential pitfalls of idolizing wealth over character.
Key Takeaways
Wealth is Subjective: The concept of being rich varies significantly depending on personal experiences and upbringing. For instance, someone from a low-income background might see $1 million as a fortune, while a child of a wealthy entrepreneur might view it merely as a business loan. Understanding that wealth is subjective helps us realize that there's no universal standard for being "rich."Comparison and Self-Worth: People often compare their wealth to those around them, affecting their self-worth. Ridgeway points out that we tend to measure ourselves against our immediate peers, not against billionaires like Elon Musk. This comparison can lead to unnecessary feelings of inadequacy and stress.Levels of Wealth Perception: Ridgeway describes three levels of wealth perception: those who don't recognize luxury, those for whom luxury is the norm, and those who have transcended materialism. Each level brings different social interactions and expectations, highlighting that true contentment comes from within rather than external validation.The Symbolism of Wealth: Material possessions like cars or houses often serve as symbols of success, but their value is highly dependent on the observer's perspective. Ridgeway uses the example of a luxury car to illustrate how different people perceive wealth differently based on their familiarity and personal context.Aligning Wealth with Values: It's crucial to ensure that the pursuit of wealth aligns with one's values and character. Money should be a tool to enhance one's life and the lives of others, not an end in itself. Ridgeway emphasizes the importance of ethical wealth accumulation and using money for positive impact.Quotes
"The idea of being rich or even feeling rich is subjective. What seems like a lot of money to one person might be just a starting point for another.""We tend to attach our self-worth to those we feel most connected to. If our neighbor makes more money, we might feel less valuable, but we don't compare ourselves to billionaires.""True wealth isn't about the amount of money you have; it's about how you use it to improve your life and the lives of others. Money should be a supplement to your character, not a substitute."💵Sign up for a Christian Finance Consultation and create your Financial Plan Today!
https://calendly.com/abridgewaywm/consultation
*Disclaimer: This communication is not intended as an offer or solicitation to buy, hold or sell any financial instrument or investment advisory services. Any information provided has been obtained from sources considered reliable, but we do not guarantee the accuracy or the completeness of any description of securities, markets or developments mentioned. This is strictly for information purposes. We recommend you speak with a professional financial advisor.
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In this episode of Financial Advisors Say The Darndest Things, host AB Ridgeway guides listeners through the process of hiring a Christian financial advisor. The discussion emphasizes the accessibility of financial advisors to people of all income levels and delves into the specifics of different types of advisors, the importance of identifying personal financial needs, and how to choose the right advisor for those needs. Ridgeway also highlights the unique value of Christian financial advisors who align financial planning with biblical principles.
Key Takeaways
Financial Advisors for Everyone Financial advisors aren't just for the wealthy; people of all incomes can benefit from their services. They assist with a variety of financial planning needs such as debt management, savings, and investment strategies. Understanding that these services are accessible can empower more individuals to seek professional advice to reach their financial goals.Identifying Your Financial Needs Before hiring a financial advisor, it's crucial to identify your top financial issues. Whether you're worried about retirement, managing investments, or charitable giving, knowing what you need help with will guide you to the right type of advisor. Writing down your primary concerns can clarify whether you need a simple financial coach or a more complex advisor.Types of Financial Advisors There are various types of financial advisors, including fee-only advisors, investment advisors, and Christian financial advisors. Fee-only advisors are paid directly by clients and have a fiduciary responsibility to act in their best interest. Christian financial advisors integrate faith-based principles into their advice, avoiding investments that conflict with Christian values.Understanding Financial Advisor Costs The cost of working with a financial advisor varies based on your financial situation and the services you need. Those with less than $100,000 might benefit from a one-time financial plan, while those with more substantial assets might seek ongoing advisory services. It's also possible to find pro bono financial planning services through organizations like the Financial Planning Association.The Role of Technology in Financial Advising Online financial advisors offer the convenience of remote services, allowing clients to work with advisors across different states without the need for travel. This can be especially beneficial for families spread across various locations. While there is a learning curve with technology, modern tools like Zoom and DocuSign facilitate seamless interactions and document management.Quotes
"A financial advisor is not a luxury only reserved for the ultra-wealthy. Investors of all incomes can work with a financial advisor.""Writing down your top three issues you want to solve will help you decide which financial advisor you need or if you even need a financial advisor at all."💵Sign up for a Christian Finance Consultation and create your Financial Plan Today!
https://calendly.com/abridgewaywm/consultation
*Disclaimer: This communication is not intended as an offer or solicitation to buy, hold or sell any financial instrument or investment advisory services. Any information provided has been obtained from sources considered reliable, but we do not guarantee the accuracy or the completeness of any description of securities, markets or developments mentioned. This is strictly for information purposes. We recommend you speak with a professional financial advisor.
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Episode Summary:
In this episode AB Ridgeway reflects on the retirement of Pat Sajak after 41 years of hosting "Wheel of Fortune." Ridgeway discusses the implications of Sajak's departure and the broader themes of retirement, identity, and financial preparedness.
End of an Era in Television:Pat Sajak's retirement marks the end of an iconic era in television history. Hosting "Wheel of Fortune" since 1981, Sajak has been a fixture in American homes, making his departure a significant cultural moment.The transition to Ryan Seacrest is a reminder of the inevitability of change, even in long-standing traditions. This shift reflects broader trends in the entertainment industry where legends are succeeded by new faces.The Complexity of Retirement Decisions:Retirement is not just about financial readiness but also emotional and identity considerations. Sajak's decision to retire at 77 underscores the complexity of such a life transition.Many individuals, including celebrities like Sajak, find it challenging to step away from a career that has defined them for decades. This episode highlights the importance of preparing mentally and emotionally for retirement, not just financially.Financial Preparedness and Planning:AB Ridgeway emphasizes the critical need for comprehensive financial planning to ensure a comfortable retirement. This includes updating beneficiaries, managing assets, and understanding tax implications.The episode advises listeners to prepare for retirement early, highlighting the risks of inadequate savings and the potential financial struggles that can arise without proper planning.Navigating Post-Retirement Life:Adjusting to life after retirement involves several stages, including the honeymoon period, potential regret, and eventually redefining one's identity. Sajak's journey serves as a case study for these phases.The episode suggests that retirees engage in meaningful activities and hobbies to fill the void left by their professional careers. This helps maintain mental and emotional well-being during retirement.Legacy and Ethical Will:Ridgeway discusses the importance of leaving an ethical will, which includes sharing stories, values, and experiences with loved ones. This ensures that the legacy goes beyond material wealth.For public figures like Sajak, documenting their journey through autobiographies or documentaries can preserve their legacy and inspire future generations.Quotes:
"How many times have we dedicated our lives and our ambitions to one organization only to be turned away by their own personal agendas?""Creating a life that you don't have to take a vacation from is a goal we should all strive for.""When will you stop working? Is your family prepared for when you stop? Do you have your finances in order?"💵Sign up for a Christian Finance Consultation and create your Financial Plan Today!
https://calendly.com/abridgewaywm/consultation
*Disclaimer: This communication is not intended as an offer or solicitation to buy, hold or sell any financial instrument or investment advisory services. Any information provided has been obtained from sources considered reliable, but we do not guarantee the accuracy or the completeness of any description of securities, markets or developments mentioned. This is strictly for information purposes. We recommend you speak with a professional financial advisor.
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Summary: In this episode, host AB Ridgeway, a Christian Financial Advisor, delves into the importance of family unity in financial planning and the role of communication in preserving wealth across generations. AB shares personal anecdotes and real-life stories to illustrate the impact of collective family efforts and the dangers of communication breakdowns. Listeners will gain insights into how giving as a family can strengthen bonds and ensure a lasting legacy.
Key Takeaways:
The Power of Collective Responsibility: AB highlights how dividing household responsibilities among family members, like children doing chores, benefits everyone and teaches valuable life skills. When each family member contributes, it creates a sense of unity and shared purpose, making the family more cohesive and efficient.Communication is Key to Preserving Wealth: One of the biggest threats to wealth is not poor investment decisions but a lack of communication between generations. AB shares a cautionary tale of an elderly woman whose $4 million estate was squandered due to a lack of clear instructions and open dialogue with her heirs.Involving Children in Giving: Teaching children about the importance of giving and involving them in the decision-making process can instill lasting values. AB stresses that children should understand the family's philanthropic goals and the reasons behind them, which helps ensure they carry on the legacy responsibly.Establishing Values Over Organizations: Family values should guide philanthropic efforts rather than specific organizations, as organizations and their policies can change over time. By focusing on core values, families can adapt their giving strategies as needed while maintaining their foundational principles.The Impact of Personal Experiences on Giving: Personal experiences, such as AB's family's struggle with Alzheimer's, can significantly influence one's charitable priorities. AB encourages listeners to share their motivations for giving with their children to foster a deep, personal connection to the family's philanthropic mission.Quotes:
"The family that gives together, stays together." - AB Ridgeway"Communication breakdowns, not bad investments, are the biggest threat to preserving wealth across generations." - AB Ridgeway"Do not neglect to do good and to share what you have, for such sacrifices are pleasing to God." - Hebrews 13:16If you found this episode helpful, please like, comment, and share. Don't forget to subscribe and hit the bell icon to stay notified of our latest content. Let's build a future where faith and finance walk hand in hand!
💵Sign up for a Christian Finance Consultation and create your Financial Plan Today!
https://calendly.com/abridgewaywm/consultation
*Disclaimer: This communication is not intended as an offer or solicitation to buy, hold or sell any financial instrument or investment advisory services. Any information provided has been obtained from sources considered reliable, but we do not guarantee the accuracy or the completeness of any description of securities, markets or developments mentioned. This is strictly for information purposes. We recommend you speak with a professional financial advisor.
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Embrace the Beauty of Fleeting Moments | Financial Advisors Say the Darndest Things
Join AB Ridgeway, the host of "Financial Advisors Say the Darndest Things" and his mom's favorite Christian financial advisor, as he shares profound insights from a famous TV judge reflecting on life during his final hours. In this heartfelt episode, AB explores the concept of fleeting moments and the importance of living a life true to oneself.
💡 Key Takeaways:
Cherish the Small Moments: Life is a series of fleeting moments that we often overlook. By slowing down and being present, we can appreciate the small, beautiful gifts life offers every day.Mindfulness Matters: Embracing mindfulness allows us to find peace, joy, and fulfillment in the present moment. These moments of awareness help us connect more deeply with life.Life is a Self-Assignment: We are responsible for deciding what brings us fulfillment and happiness. Don’t let societal pressures dictate your path.Live Authentically: Avoid the burden of external pressures and lead a life that aligns with your true values and desires.The Journey of Becoming: It's not just about the destination or the journey, but about the person you become along the way.📖 Quotes to Reflect On:
"Life is simply a series of fleeting moments. If I'm too worried, hurried, obsessed, or depressed, I'm going to miss all of these small, beautiful, momentary gifts that life gives us every day.""Let's pause, observe, and immerse ourselves in the beauty of every fleeting moment. For I believe it is in these moments where we will find peace, and joy, and fulfillment.""Life is a self-assignment. The things that we want to accomplish in this life are up to us. We decide what brings us fulfillment, not necessarily society."Don't miss this thought-provoking episode with AB Ridgeway. Embrace the fleeting moments and discover the true joy and fulfillment life has to offer. 🌟
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*Disclaimer: This communication is not intended as an offer or solicitation to buy, hold or sell any financial instrument or investment advisory services. Any information provided has been obtained from sources considered reliable, but we do not guarantee the accuracy or the completeness of any description of securities, markets or developments mentioned. This is strictly for information purposes. We recommend you speak with a professional financial advisor.
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Episode Summary: In this episode of "Financial Advisors Say the Darndest Things," host AB Ridgeway uncovers a deceptive practice by mortgage companies that prevents homeowners from saving on interest. As a Certified Private Wealth Advisor®️ professional, AB shares his insights and offers actionable advice to help you navigate these challenges and save money on your mortgage. Tune in to learn how to protect your financial future from these unscrupulous tactics.
Key Takeaways:
Mortgage Company Tactics: AB Ridgeway exposes how mortgage companies make it difficult to switch from monthly to bi-weekly payments. This strategy forces homeowners to pay more in interest over the life of the loan. He highlights the deliberate obstacles set by companies to keep you paying more.Understanding Unapplied Funds: AB explains the concept of unapplied funds, where mortgage payments are held in a separate account until the full amount is received. This tactic prevents partial payments from reducing the principal, causing homeowners to accrue more interest unnecessarily.The Importance of Principal Payments: Making principal-only payments is crucial. AB advises homeowners to take control by manually making extra payments toward the principal. This reduces the total interest paid over the loan’s term and accelerates mortgage payoff.Challenges with Bi-Weekly Payments: Switching to bi-weekly payments can be beneficial, but mortgage companies often create barriers. AB recounts a client's struggle with this process, including issues with account numbers and additional documentation, underscoring the need for persistence.Strategies to Save on Your Mortgage: AB shares practical steps to overcome these challenges, such as making one extra payment per year or dividing your monthly payment by 12 to add to each monthly payment. These methods can significantly reduce the interest paid and shorten the loan term.Quotes:
"Mortgage companies are lying about your mortgage payment and they're taking money right out of your pocket.""The reason we have bi-weekly payments is because every dollar that goes to principal doesn't accrue interest.""How greedy can you get that you limit how people pay you so you can make more money?"For more insights and to schedule a consultation with AB Ridgeway, visit our website. Let's take control of your financial future together!
💵Sign up for a Christian Finance Consultation and create your Financial Plan Today!
https://calendly.com/abridgewaywm/consultation
*Disclaimer: This communication is not intended as an offer or solicitation to buy, hold or sell any financial instrument or investment advisory services. Any information provided has been obtained from sources considered reliable, but we do not guarantee the accuracy or the completeness of any description of securities, markets or developments mentioned. This is strictly for information purposes. We recommend you speak with a professional financial advisor.
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In this episode of "Financial Advisors Say the Darnedest Things," host A.B. Ridgeway dives deep into the often unspoken challenges of retirement. While many dream of endless vacations and leisure, the reality can be starkly different. A.B. explores the stages of retirement, emphasizing the importance of planning and staying engaged to avoid the pitfalls of boredom, anxiety, and depression. Tune in to learn how to navigate retirement with purpose and fulfillment.
Key Takeaways:
The Illusion of Retirement Bliss: Retirement is often seen as a reward for decades of hard work, filled with relaxation and freedom. However, without a solid plan, this period can quickly become overwhelming and lead to unexpected emotional and mental health challenges. It's crucial to prepare not just financially, but also mentally and emotionally.The Honeymoon Phase: The initial stage of retirement, known as the honeymoon phase, is characterized by the excitement of newfound freedom and leisure activities. This period can be enjoyable but is often short-lived. Financial advisors need to help clients understand that this phase will transition and should plan accordingly to avoid financial pitfalls.Hitting the Wall: After the honeymoon phase, retirees may experience a sense of boredom and lack of purpose. This "hitting the wall" stage can lead to depression and unhealthy coping mechanisms like substance abuse. It's essential for retirees to find new hobbies, engage in social activities, and maintain a sense of purpose.Redefining Identity: Retirement requires a redefinition of one's identity, shifting from a career-focused life to finding new roles and passions. This can be a time of personal growth and fulfillment if approached with a proactive mindset. Activities, volunteering, and continuous learning can play significant roles in this redefinition.The Importance of Social Connections: Maintaining strong social connections is vital for a happy and healthy retirement. Engaging with family, friends, and community activities provides emotional support and helps combat feelings of isolation and loneliness. This social engagement can significantly impact overall well-being and longevity.Quotes:
"Retirement is often seen as the answer to all of your life's problems, but without a solid plan, it can lead to bouts of boredom, anxiety, and even depression.""The goal is to retire and to stay retired, not to rely on a company to support your lifestyle. Work if you choose to work, and fellowship when you choose to fellowship.""Your job is supposed to be a place where you use your skills to gain money to fund your personal life, not to give them the best years of your life while waiting to finally have some fun later."For more insights and personalized financial planning, don't hesitate to book a consultation. Let's ensure your retirement is not just financially secure but also fulfilling and joyous. Click the link in the description to get started!
💵Sign up for a Christian Finance Consultation and create your Financial Plan Today!
https://calendly.com/abridgewaywm/consultation
*Disclaimer: This communication is not intended as an offer or solicitation to buy, hold or sell any financial instrument or investment advisory services. Any information provided has been obtained from sources considered reliable, but we do not guarantee the accuracy or the completeness of any description of securities, markets or developments mentioned. This is strictly for information purposes. We recommend you speak with a professional financial advisor.
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In this episode, host AB Ridgeway dives into the essential components of Christian investing, distinguishing it from traditional financial planning. He outlines the four pillars of Christian investing: debt management, savings, investing, and wealth transfer. Emphasizing the spiritual and practical aspects, AB Ridgeway guides listeners on how to build a robust financial foundation while aligning their investments with their Christian values.
Debt Management: Managing debt is a continuous process that lays the groundwork for a Christian financial plan. Understanding interest rates and loan terms is crucial to avoid overpaying. For example, using a credit card with a 20% interest rate means a $1 hamburger could end up costing $1.20 if not paid off immediately. This principle applies to larger debts like mortgages, emphasizing the importance of prudent borrowing.Savings: True savings isn't about finding deals but about preserving today's purchasing power for future needs. AB Ridgeway highlights that Americans often spend tomorrow's dollars today, which undermines their financial stability. He advocates for maintaining six to nine months of emergency savings to handle unexpected expenses like job changes or natural disasters, ensuring long-term financial security.Investing: Before investing, it's essential to address debt and build savings. Without this foundation, the risks of losing invested money can jeopardize financial stability. Once ready to invest, individuals should seek professional advice to navigate options like 401(k)s, IRAs, and brokerage accounts. A Christian financial advisor focuses on prudent decision-making that aligns with personal values and spiritual goals.Wealth Transfer: Proper estate planning is essential to pass on financial and spiritual legacies. Creating clear documentation, like wills and medical proxies, ensures that your wishes are honored and prevents disputes among heirs. This preparation helps maintain the continuity of core beliefs and values across generations, mirroring the biblical tradition of passing down wisdom."Money does cost. How much does your dollar cost? If you put a hamburger on your credit card and don’t pay it off, it costs you $1.20 instead of $1.""Saving money is taking your purchasing power today and pushing it into the future to use if needed. Spending tomorrow’s dollars today is destroying your financial plan.""Anyone who does not provide for their relatives, especially their own household, has denied the faith and is worse than an unbeliever." (1 Timothy 5:8)💵Sign up for a Christian Finance Consultation and create your Financial Plan Today!
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📖 Download a copy of the 4 Pillars of Christian Finances
https://www.abrwealthmanagement.com/freechristianfinancebook
*Disclaimer: This communication is not intended as an offer or solicitation to buy, hold or sell any financial instrument or investment advisory services. Any information provided has been obtained from sources considered reliable, but we do not guarantee the accuracy or the completeness of any description of securities, markets or developments mentioned. This is strictly for information purposes. We recommend you speak with a professional financial advisor.
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In this episode of "Financial Advisors Say the Darndest Things Podcast," host A.B. Ridgeway welcomes Nic Nielsen, CFP®️, a financial planner specializing in helping executives manage their stock options and organize their life. Nic shares his journey from a bank teller to a CERTIFIED FINANCIAL PLANNER, offering insights into the financial challenges and opportunities faced by professionals.
Key Takeaways:
Navigating Stock Options:
Managing stock options can be daunting for sales executives, especially with the risk of making wrong moves that could jeopardize their retirement plans. Nic emphasizes the importance of having a clear, concise financial plan to make informed decisions about stock options. Utilizing a certified financial planner can help in understanding and optimizing these assets.
The Power of Financial Planning:
Financial planning goes beyond just managing investments; it involves creating a holistic strategy that encompasses all aspects of personal finance. Nic’s transition from a chemical engineering major to a financial advisor was driven by the realization that understanding money management is crucial for long-term financial stability and helping others achieve their financial goals.
Lessons from the Banking Industry:
Working as a bank teller provided Nic with unique insights into people's spending and saving habits. Observing the various ways customers handled their finances gave him a foundational understanding of financial behaviors, which proved invaluable in his career as a financial planner. This experience highlighted the importance of grassroots financial education.
Financial Mistakes to Avoid:
Nic discusses common financial mistakes made by sales executives, such as not diversifying investments and failing to plan for taxes on stock options. He offers a resource guide titled "Seven Money Mistakes Every Sales Executive Should Avoid," which is essential for anyone looking to avoid pitfalls and achieve financial success.
Unexpected Career Influences:
A pivotal conversation with his grandfather steered Nic towards financial planning. His grandfather's advice that understanding money would ensure job security and the ability to help others profoundly impacted Nic's career choice. This underscores the importance of mentorship and guidance in shaping one's professional path.
Quotes:
"If you understand how money works, you'll probably always have a job, you'll be able to take care of your family, but most importantly, you'll be able to help other people." - Nic Nielsen, CFP®️
"Financial planning isn't just about managing investments; it's about creating a comprehensive strategy that covers all facets of your financial life." - A.B. Ridgeway, CPWA®️
"Being a bank teller exposed me to how people get money into the bank, their spending habits, and the different ways they handle their finances, which was invaluable in my career as a financial planner." - Nic Nielsen, CFP®️
💵Sign up for a Christian Finance Consultation and create your Financial Plan Today!
https://calendly.com/abridgewaywm/consultation
*Disclaimer: This communication is not intended as an offer or solicitation to buy, hold or sell any financial instrument or investment advisory services. Any information provided has been obtained from sources considered reliable, but we do not guarantee the accuracy or the completeness of any description of securities, markets or developments mentioned. This is strictly for information purposes. We recommend you speak with a professional financial advisor.
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Today we dive into the surprising bankruptcy filing of Antonio Brown, unpacking the nuances of Chapter 11 bankruptcy and its implications for individuals like Brown who own multiple businesses. Ridgeway highlights the importance of understanding the distinction between Chapter 11 and Chapter 13 bankruptcies and discusses how Chapter 11 can serve as a strategic financial move rather than a sign of financial ruin.
Key Takeaways:
Understanding Chapter 11 Bankruptcy: Ridgeway explains that Chapter 11 bankruptcy, unlike the common perception of financial ruin, offers individuals and businesses a chance to reorganize and renegotiate their debts without necessarily liquidating assets or shutting down operations. This allows for a strategic restructuring of finances to protect business interests and facilitate a manageable repayment plan.Differentiating Chapter 11 and Chapter 13: By outlining the key differences between Chapter 11 and Chapter 13 bankruptcies, Ridgeway emphasizes that Chapter 11 is typically chosen by individuals or businesses with higher debt levels and provides more flexibility in restructuring debt obligations. This distinction is crucial for understanding Antonio Brown's decision to file for Chapter 11 bankruptcy.Strategic Financial Management: Ridgeway suggests that Antonio Brown's bankruptcy filing may not necessarily reflect poor financial management but rather a strategic business decision aimed at protecting his assets and restructuring his financial obligations. By filing for Chapter 11 bankruptcy, Brown can potentially navigate financial challenges while maintaining control over his businesses.Quotes:
"Bankruptcy chapter 11 is like a renegotiation of debt. It gives the filer the opportunity to downsize, perform layoffs, and get things in order without diving deeper into debt.""Chapter 11 bankruptcy offers individuals and businesses a chance to reorganize and renegotiate debts, protecting business interests while facilitating a manageable repayment plan.""Filing for bankruptcy isn't always a sign of mismanagement. It can be a strategic business decision aimed at protecting assets and restructuring financial obligations."💵Sign up for a Christian Finance Consultation and create your Financial Plan Today!
https://calendly.com/abridgewaywm/consultation
*Disclaimer: This communication is not intended as an offer or solicitation to buy, hold or sell any financial instrument or investment advisory services. Any information provided has been obtained from sources considered reliable, but we do not guarantee the accuracy or the completeness of any description of securities, markets or developments mentioned. This is strictly for information purposes. We recommend you speak with a professional financial advisor.
Chapter 11 vs Chapter 13
https://www.investopedia.com/ask/answers/061815/what-are-differences-between-chapter-11-and-chapter-13-bankruptcy.asp#:~:text=Chapter%2011%20can%20be%20done,also%20having%20specific%20debt%20limits.
Masslive Article
https://www.masslive.com/patriots/2024/05/im-broke-ex-patriots-flame-out-claims-hes-filing-for-bankruptcy.html
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Episode Summary: In this episode of "Financial Advisors Say the Darndest Things," host A.B. Ridgway delves into the unsettling reality of how our phones seem to predict our desires and actions, raising questions about privacy, consent, and the power of advertising algorithms. By dissecting the mechanisms behind targeted ads and personalized content, Ridgway explores the implications for individuals, particularly those in vulnerable financial situations.
Key Takeaways:
Algorithmic Influence: Ridgway exposes the influence of algorithms in shaping our conversations and preferences, highlighting how our online activities generate detailed consumer profiles. This underscores the importance of understanding the digital ecosystem and being mindful of the information we share.Data Brokerage and Advertising: The episode elucidates the intricate process of data brokerage and real-time bidding in advertising, emphasizing how personal data fuels the economy of the internet. It prompts reflection on the commodification of user information and its impact on privacy rights.Vulnerability to Manipulation: Ridgway warns against the exploitation of vulnerable individuals by advertisers targeting them with offers related to debt relief or get-rich-quick schemes. Recognizing one's susceptibility to such tactics is crucial for making informed financial decisions and seeking objective advice.Role of Financial Advisors: The importance of seeking guidance from unbiased financial advisors is emphasized, particularly in navigating complex financial landscapes. Ridgway advocates for professional assistance in developing personalized financial plans tailored to individual circumstances.Community Engagement: The episode concludes with a call to action for viewers to engage with the content by liking, commenting, and sharing, thereby amplifying the reach of Christian counsel on financial matters and fostering a supportive community.Quotes:
"Our phones seem to predict our desires with uncanny accuracy, raising concerns about privacy and the power of advertising algorithms.""In the digital age, our online activities generate detailed consumer profiles, fueling the economy of the internet.""It's crucial to recognize vulnerability to manipulation and seek objective financial advice to make informed decisions."💵Sign up for a Christian Finance Consultation and create your Financial Plan Today!
https://calendly.com/abridgewaywm/consultation
*Disclaimer: This communication is not intended as an offer or solicitation to buy, hold or sell any financial instrument or investment advisory services. Any information provided has been obtained from sources considered reliable, but we do not guarantee the accuracy or the completeness of any description of securities, markets or developments mentioned. This is strictly for information purposes. We recommend you speak with a professional financial advisor.
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A.B. Ridgeway provides a quick message about God and Money. We cannot serve two masters. So what do we do? In this episode, A.B. Ridgeway shares how he deals with loving God but also accumulating wealth.
#god #money #podcast #stewardship
💵Sign up for a Christian Finance Consultation and create your Financial Plan Today!
https://calendly.com/abridgewaywm/consultation
*Disclaimer: This communication is not intended as an offer or solicitation to buy, hold or sell any financial instrument or investment advisory services. Any information provided has been obtained from sources considered reliable, but we do not guarantee the accuracy or the completeness of any description of securities, markets or developments mentioned. This is strictly for information purposes. We recommend you speak with a professional financial advisor.
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