It's All About the $Money, Honey!
It's the show where fun meets finance. Join The Financial Diva, Victoria Woods, and the King of Finance, Damon King, each week for tips on how to Rock Your Retirement!
Episodes
Building the retirement lifestyle of your dreams is a lot like building the house of your dreams. Planning begins long before you move in. From hiring the financial advisor that will design the plans, to choosing the different contractors that will build it, to updating and maintaining it, many decisions must be made before you can retire with confidence. In this episode, we give you a step by step guide to building your d...
Owning a business can create the lifestyle of your dreams. It can also create a host of problems when it comes to building your wealth and leaving a legacy to your heirs. In this episode, we explore why business owners need to have other investment interests, the #1 reason businesses don't sell, and complications that can arise when your heirs receive it.
You spend 30-40 years accumulating wealth for yourself and your family. As the one who built it, you have great appreciation for how hard it is. What about the next generations who will inherit your wealth? Are you certain they will appreciate it? Do they share your values? Do they know your wishes? In this episode, we share 3 key things you should consider when planning the legacy you will leave to your heirs.
Surviving retirement (AKA not running out of money) can be boiled down to just one key activity - cash flow management. Knowing how you will generate cash flow, when, and from where will be the primary things on your mind once you've given up a guaranteed paycheck. The only way you can do that is with an income plan. In this episode, we share how you can improve the odds that you won't run out of money in retirement.
...When you become a Millionaire, you won't suddenly stop trying to grow your money. However, you may find that more of your focus is on preserving it now that you've got it. Becoming wealthy is only one half of the Millionaire equation. Keeping it is where many fail. In this episode, we share 3 wealth preservation strategies that often go overlooked.
To many investors, bonds are considered outcasts. They're boring, bland, and meant for the unadventurous. But don't be fooled. Bonds can check off several key boxes for your retirement plan and if you know how they work, you can optimize their power. In this episode, we share how bonds can be used to provide growth, income, protection, and tax efficiency for your retirement portfolio.
Financially speaking, recession is about as dirty a word as you can find. Even if you don't exactly know what a recession is or how it's triggered, you know it's not good for your retirement savings. Which begs the question - can you retire in a recession? In this episode, we share why a recession shouldn't necessarily cause you to delay your retirement plans and simple strategies for playing defense with your money until ...
For more than two decades, the Great Wealth Transfer has been discussed and dissected every which way. As Baby Boomers retire and age, their Gen X, Millennials, and Gen Z are poised to inherit their legacy. It's vital that the next generations of wealth owners prepare themselves now to manage and grow it for themselves. In this special episode, we are joined by Lisa Ward, CFP® who shares how she is serving and coaching the...
There is only one proven way to completely eliminate your tax bill to Uncle Sam. Stop earning income. Short of that, it's impossible to avoid all taxes. However, there are tax reduction strategies you can use in retirement to reduce and even avoid the bill Uncle Sam sends you. In this episode, we share the story of one family's retirement journey and the simple, yet effective, ways they reduced taxes throughout retirement.
...Most Millionaires know the best financial plans are not complicated. They are simple, easy to understand, and easy to implement. However, just because something is simple doesn't mean it isn't effective. In fact, the fewer moving parts a plan has, the more likely it will succeed. In this episode, we share 3 simple wealth solutions Millionaires are using to become and stay wealthy.
A common misperception is that wealthy people have piles of cash laying around. However, they would tell you the majority of their wealth is tied up in non-cash assets like real estate, businesses, minerals, metals, stocks, and the like. So, how do the wealthy unleash the power of their non-cash assets to access cash flow? Through the use of leverage. In this episode, we share how lines of credit can help you access cash f...
Everything you want to do or purchase in life requires cash flow. The best portfolio in the world means nothing if the person that owns it doesn't have enough cash in the bank to pay their bills. Cash flow is especially important in retirement, when you no longer have a steady paycheck. In this episode, we share the one question you must be able to answer before you can retire.
Money is an incredible tool, capable of creating amazing things that benefit and enrich the lives of people all over the world. Money also has a dark side that can turn loved ones against each other and rip families apart. In this episode, we share some of the financial situations you may face and how to decrease the odds that your family allows your wealth to become a weapon rather than a blessing.
The Baby Boomers are the largest generation in U.S. history and they've built up quite a tidy sum of wealth. It's estimated that between 2023 and 2045, $84 trillion in assets will pass to Generation X and Millennials from their Baby Boomer parents and grandparents. This type of wealth can be overwhelming. In this episode, we speak with Asher Allison, a finance major at the University of Oklahoma and intern with ChappelWood...
When you finally become a Millionaire, and especially a multi-Millionaire, investment opportunities you might never have imagined suddenly present themselves to you. A unique real estate deal. A venture capital start up. A vineyard and winery. They all sound exciting, but if you're not careful, you could end up flushing a lot of cash down the drain. In this episode, we share some of the questions and considerations that sh...
A lot of people think about their money as an either/or issue. Either I'm going to use all my wealth to enjoy retirement or I'm going to leave most of it to my family. However, it is possible to do both well. In this episode, we are joined by Shawn Byerly and Matt Kennedy who share some of the unique ways you can leave a legacy to your family without scrimping on your own retirement dreams.
Coming off the worst year for the market since the 2008 financial crisis, the year 2023 was set up to be an interesting year. Uncertainty and questions dominated the first half of the year. We got a lot of answers, but there are still lots of questions. In this episode, we ask and answer some of the big ones. Will interest rates continue going up? Will inflation continue falling? Will there be a recession in 2023? What wil...
It's one thing to BELIEVE you can live on a certain amount of cash flow each month during retirement. It's an entirely different thing to ACTUALLY do it. As your retirement date nears, you don't want to be surprised by a plan that doesn't meet your needs. In this episode, we share some of the key steps you should take on the Countdown to Retirement, including taking your planned cash flow budget for a test drive.
In honor of the NFL Draft this past week, we focus on two areas of key concern for any football team - Protection and Defense. Teams wants strong offensive lines to protect their quarterbacks and strong defensive lines to shut down the opposing team. In this episode, we share strategies you can use for protection and defense to shield yourself and your money during periods of market volatility and uncertainty.
Tax Day may be behind us, but tax season runs all year long. The time to minimize your tax bill is early in the year when you still have some time to take action. In this episode, we share some simple strategies you can use to lower your tax pain and disinherit Uncle Sam.
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