The Money Knight

Turning Savings Into A Real Retirement Plan

You’ve done a good job saving, but now what? In this episode, Wade tackles a question many people face as retirement approaches: how do you take solid savings and build a reliable, long-term plan around it? Wade breaks down the essential steps for transitioning from a lifetime of saving to a strategy for generating income, maintaining flexibility, and preparing for uncertainty.
 
He covers everything from taking inventory of your financial accounts to visualizing your lifestyle goals and building an income plan that factors in taxes, inflation, and longevity. You’ll also hear how Wade helps clients connect all the financial dots, giving so their wealth strategy reflects what matters most.
 
For this week’s Kingdom Minute, we talk about how building wealth God's way means seeing money as a tool, not a goal. Scripture reminds us to honor God first, work hard, avoid debt, and plan wisely, knowing He is the source of our ability to prosper.
 
Here’s some of what we discuss in this episode:
📋 Take inventory of accounts and assets
💰 Turning savings into consistent income
📉 Avoiding “deworsification” across accounts
📈 Inflation, longevity, and income planning
🎯 Aligning your money with your mission
 
Get in touch with Chessman Wealth: https://www.chessmanwealth.com/ 
The opinions voiced in The Money Knight podcast with Wade Chessman of Chessman Wealth Strategies are for general information only and are not intended to provide specific advice or recommendations for any individual. Past performance is no guarantee of future results. All indices are unmanaged and may not be invested into directly. Investing involves risk, including possible loss of principal. No strategy assures success or protects against loss. To determine what may be appropriate for you, consult with your attorney, accountant, financial or tax advisor prior to investing.
Investment advisory services offered through CWM, LLC, an Investment Advisor. Carson Partners, a division of CWM, LLC, is a nationwide partnership of advisors.

Retirement Lessons From The Masters

What does a world-class golf tournament have to do with your financial future? Turns out quite a bit. The Masters is a beautiful reminder of just how much strategy, patience, and long-term focus goes into a great round of golf. Think about it: a hole-in-one may be thrilling, but it won’t win the tournament. Just like chasing a hot stock or one-time windfall will not secure your financial future.  
Today, we’re teeing up a few key lessons from the course and how they translate into smarter planning for your financial future. From avoiding traps to playing the long game, this conversation reminds us that flashy wins (like a hole-in-one) might look impressive, but it's consistency, strategy, and preparation that truly lead to success.
Here’s some of what we discuss in this episode:
🚩 Avoiding hazards: spotting risks and gaps in your plan
📅 Why your back nine (70s, 80s, 90s) might matter most
🧠 The underrated value of having a financial “caddy” by your side
⛳ How a “full bag of clubs” mirrors smart financial diversification
 
Get in touch with Chessman Wealth: https://www.chessmanwealth.com/ 
The opinions voiced in The Money Knight podcast with Wade Chessman of Chessman Wealth Strategies are for general information only and are not intended to provide specific advice or recommendations for any individual. Past performance is no guarantee of future results. All indices are unmanaged and may not be invested into directly. Investing involves risk, including possible loss of principal. No strategy assures success or protects against loss. To determine what may be appropriate for you, consult with your attorney, accountant, financial or tax advisor prior to investing.
Investment advisory services offered through CWM, LLC, an Investment Advisor. Carson Partners, a division of CWM, LLC, is a nationwide partnership of advisors.

April Fool’s: Beliefs That Fool Retirement Savers The Most

April Fool’s Day is all about jokes and pranks, but when it comes to retirement planning, getting fooled can cost you real money. Today, we’re uncovering the beliefs that fool retirees and pre-retirees into making bad financial moves. We’ll cover some of the most common myths that can derail your retirement plans and explain why they might not be as true as they seem.
Should you really claim Social Security as soon as possible? Will Medicare cover all your healthcare costs? Don’t let financial myths fool you- tune in and take control of your retirement!
For this week’s Kingdom Minute, Wade shares some biblical wisdom from Proverbs on diligence, avoiding debt, and thoughtful investing.
Here are the myths we cover in today’s episode:
“Guaranteed” high returns are easy to achieve
Social Security is going away and you should claim it ASAP
Underestimating how taxes can impact your retirement income
The misunderstanding that Medicare will cover all healthcare costs
The idea of the 'set it and forget it' retirement plan
The misconception that retirees should be overly frugal
The “I can just keep on working” fallacy
Get in touch with Chessman Wealth: https://www.chessmanwealth.com/ 
The opinions voiced in The Money Knight podcast with Wade Chessman of Chessman Wealth Strategies are for general information only and are not intended to provide specific advice or recommendations for any individual. Past performance is no guarantee of future results. All indices are unmanaged and may not be invested into directly. Investing involves risk, including possible loss of principal. No strategy assures success or protects against loss. To determine what may be appropriate for you, consult with your attorney, accountant, financial or tax advisor prior to investing.
Investment advisory services offered through CWM, LLC, an Investment Advisor. Carson Partners, a division of CWM, LLC, is a nationwide partnership of advisors.

What Do Proposed Tariffs Mean For Your Portfolio?

The day President Trump took office, he announced plans to implement a 25 percent tariff on goods from Mexico and Canada. Additional tariff conversations have exploded since that day. How might this impact your personal finances and the economy? Today, we’ll explain a bit of the backstory of tariffs and discuss these new tariffs.
For those looking to understand more about managing their finances in the face of uncertainty, this show will provide some great information about what’s happening and how we’re addressing these conversations with our clients.
Here’s some of what we discuss in this episode:
What exactly are tariffs and what does it mean to you?
Are tariffs a new thing?
Why do markets typically react negatively to tariffs?
What’s the strategy behind tariffs?
How we approach conversations about tariffs with our clients.
 
Get in touch with Chessman Wealth: https://www.chessmanwealth.com/ 
The opinions voiced in The Money Knight podcast with Wade Chessman of Chessman Wealth Strategies are for general information only and are not intended to provide specific advice or recommendations for any individual. Past performance is no guarantee of future results. All indices are unmanaged and may not be invested into directly. Investing involves risk, including possible loss of principal. No strategy assures success or protects against loss. To determine what may be appropriate for you, consult with your attorney, accountant, financial or tax advisor prior to investing.
Investment advisory services offered through CWM, LLC, an Investment Advisor. Carson Partners, a division of CWM, LLC, is a nationwide partnership of advisors.

6 Financial Mistakes to Avoid in Your 60s

Financial mistakes can happen at any age, but they can have a particularly significant impact in your 60s. In this episode, Wade discusses six critical financial mistakes that individuals often make during this pivotal decade. Understanding and avoiding these pitfalls can make the difference between a secure retirement and a financially precarious future.
There are numerous financial missteps that can occur as you prepare for retirement, which is why it’s so beneficial to work with an advisor. We can help you develop a customized plan that aligns with your goals and helps you avoid these common pitfalls.
We’ll also spend some time on the Rembrandt painting Parable of the Rich Fool and the parable from the Gospel of Luke. There’s a great financial lesson within this story and we’ll discuss it today.
Here’s some of what we discuss and we believe in this episode:
Many individuals rely on hope rather than building an actual plan.
Don’t enter retirement without knowing what your expenses are going to be.
Taking on more risk than you need to rather than shifting your mindset to protecting what you’ve built.
Delaying your Social Security might get you the largest benefit, but is that going to be your best strategy?
While it’s natural to want to be conservative with your investments as you age, having a portion of your portfolio in growth-oriented assets might help combat inflation.
Check out Parable of the Rich Fool: https://en.wikipedia.org/wiki/Parable_of_the_Rich_Fool
Get in touch with Chessman Wealth: https://www.chessmanwealth.com/ 
The opinions voiced in The Money Knight podcast with Wade Chessman of Chessman Wealth Strategies are for general information only and are not intended to provide specific advice or recommendations for any individual. Past performance is no guarantee of future results. All indices are unmanaged and may not be invested into directly. Investing involves risk, including possible loss of principal. No strategy assures success or protects against loss. To determine what may be appropriate for you, consult with your attorney, accountant, financial or tax advisor prior to investing.
Investment advisory services offered through CWM, LLC, an Investment Advisor. Carson Partners, a division of CWM, LLC, is a nationwide partnership of advisors.

Planning for the Rising Costs of Healthcare

In today's economic climate, the rising cost of healthcare is a pressing concern for many, especially those approaching retirement. In this episode, we will discuss the factors driving these costs and provide insights on how to manage them effectively.
Healthcare expenses have been outpacing general inflation, with costs rising by 5 to 6% annually. According to Fidelity, the average retiree spends about $4,300 per year on out-of-pocket healthcare costs. This figure is expected to grow, with a couple retiring in 2025 needing approximately $300,000 to $400,000 to cover healthcare expenses in retirement. These numbers can be daunting, but understanding the reasons behind the rising costs can help you prepare better.
For this week’s Kingdom Minute, will address the questions, ‘How much is enough?’ Inspired by the movie Wall Street, we explore the idea of focusing on eternal treasures rather than material wealth. This perspective encourages us to evaluate our priorities and find contentment in God's provision.
Here’s some of what we discuss in this episode:
Is inflation the cause for everything going up?
The reasons healthcare continues to be incredibly expensive.
What are the expenses that people typically overlook in retirement?
What can you do to help protect your finances from these healthcare costs?
Get in touch with Chessman Wealth: https://www.chessmanwealth.com/ 
The opinions voiced in The Money Knight podcast with Wade Chessman of Chessman Wealth Strategies are for general information only and are not intended to provide specific advice or recommendations for any individual. Past performance is no guarantee of future results. All indices are unmanaged and may not be invested into directly. Investing involves risk, including possible loss of principal. No strategy assures success or protects against loss. To determine what may be appropriate for you, consult with your attorney, accountant, financial or tax advisor prior to investing.
Investment advisory services offered through CWM, LLC, an Investment Advisor. Carson Partners, a division of CWM, LLC, is a nationwide partnership of advisors.

Better to Give Money While You’re Still Living?

For ​a ​lot ​of ​people, ​giving ​money ​to ​charities ​or beneficiaries ​that ​are ​close ​to ​them ​is ​very ​important. ​But ​oftentimes ​it's ​done ​as ​part ​of ​the ​estate ​planning process. ​Now we’re seeing a trend where more and more people are deciding to give while they’re still alive. Is this a good idea? ​Today's ​episode ​is ​all ​‘giving while you’re living’ and the planning decisions that go into gifting money now.
This approach allows individuals to see the impact of their generosity firsthand, guiding their loved ones in making wise financial decisions. Wade shares a personal story involving his father, who decided to start gifting money to his grandchildren. This anecdote sets the stage for a deeper dive into the rules and considerations around gifting.
Here’s some of what we discuss in this episode:
Why a conversation with his dad sparked this conversation for Wade.
How much can you give each year without having to file IRS forms?
The lifetime exemption amounts per person and per married couple.
What you need to consider before starting your gifting.
Get in touch with Chessman Wealth: https://www.chessmanwealth.com/ 
The opinions voiced in The Money Knight podcast with Wade Chessman of Chessman Wealth Strategies are for general information only and are not intended to provide specific advice or recommendations for any individual. Past performance is no guarantee of future results. All indices are unmanaged and may not be invested into directly. Investing involves risk, including possible loss of principal. No strategy assures success or protects against loss. To determine what may be appropriate for you, consult with your attorney, accountant, financial or tax advisor prior to investing.
Investment advisory services offered through CWM, LLC, an Investment Advisor. Carson Partners, a division of CWM, LLC, is a nationwide partnership of advisors.

What Questions Should You Ask a Financial Advisor?

“Test everything; hold fast what is good.” - 1 Thessalonians 5:21.
In that verse, the Apostle Paul teaches that we should practice discernment in all things and we submit that includes financial advice. So this episode will tackle a common question: What should you ask a potential financial advisor?
When it comes to choosing someone you can trust and who is a good fit for your financial situation, it’s essential to ask the right questions. We discuss key factors to consider when interviewing financial professionals, from investment advisors to estate attorneys. Plus, we share valuable insight from Kingdom Advisors, which has over 1,600 Certified Kingdom Advisor professionals, and provide a comprehensive list of questions you should ask when interviewing any financial expert. Tune in for expert guidance on how to find the right financial advisor for your needs.
 
Here’s some of what we discuss in this episode:
The first thing you might want to find out is how long your candidate advisor has been on the job.
What you can ask to help form reasonable expectations.
Referrals are extremely important, and they should be current or recent contacts.
A set of questions that you may be uncomfortable with, but you need to ask them anyway.
Don’t be afraid to ask about how your candidate expects to be paid.
 
Get in touch with Chessman Wealth: https://www.chessmanwealth.com/ 
The opinions voiced in The Money Knight podcast with Wade Chessman of Chessman Wealth Strategies are for general information only and are not intended to provide specific advice or recommendations for any individual. Past performance is no guarantee of future results. All indices are unmanaged and may not be invested into directly. Investing involves risk, including possible loss of principal. No strategy assures success or protects against loss. To determine what may be appropriate for you, consult with your attorney, accountant, financial or tax advisor prior to investing.
Investment advisory services offered through CWM, LLC, an Investment Advisor. Carson Partners, a division of CWM, LLC, is a nationwide partnership of advisors.

Most Americans Are Forced to Retire Early - Are You Ready?

Retirement is a phase of life that many of us look forward to, but what happens when it comes earlier than expected? An early retirement can put stress on your finances if you aren’t prepared and this episode will get into the challenges and planning opportunities you can expect.  
Did you know that most Americans retire earlier than planned, often due to unforeseen circumstances like health issues or job changes? According to research by the Transamerica Center for Retirement Studies, 60% of Americans retire earlier than expected, with a median age of 62. This unexpected shift can leave many unprepared for the financial demands of a longer retirement. Wade Chessman shares his insights on why early planning is crucial and how to navigate these challenges effectively.
Here’s some of what we discuss in this episode:
The reasons why people often find themselves in a position like this.
The different areas of financial strain that you might feel.
When should you start planning and how do you prepare yourself for this possibility?
What other ways do people find happiness in retirement besides money?
 
Get in touch with Chessman Wealth: https://www.chessmanwealth.com/ 
The opinions voiced in The Money Knight podcast with Wade Chessman of Chessman Wealth Strategies are for general information only and are not intended to provide specific advice or recommendations for any individual. Past performance is no guarantee of future results. All indices are unmanaged and may not be invested into directly. Investing involves risk, including possible loss of principal. No strategy assures success or protects against loss. To determine what may be appropriate for you, consult with your attorney, accountant, financial or tax advisor prior to investing.
Investment advisory services offered through CWM, LLC, an Investment Advisor. Carson Partners, a division of CWM, LLC, is a nationwide partnership of advisors.

Don’t Mix Politics and Investing

In the wake of the recent election, many investors find themselves questioning how political outcomes might affect their portfolios. In this episode, Wade sheds light on why mixing politics with investing isn't always the best strategy and offer listeners valuable insights into the market's reaction to political events.
With this big event finally behind us, let’s talk about where you should be focused moving forward and the key factors that truly impact long-term investment success. Discover why the White House isn't the sole determinant of market performance, and explore the biblical principles that guide financial planning at Chessman Wealth
For this week’s Kingdom Minute, we’ll discuss the significance of stewardship, generosity, and maintaining a balanced approach to wealth accumulation as we share the five lies we believe about money.
Here’s some of what we discuss in this episode:
A great Yogi Berra quote that applies to this discussion.
The response by stocks immediately after the election results.
Is the uncertainty in the market dropping?
What really matters in the long run?
Get in touch with Chessman Wealth: https://www.chessmanwealth.com/ 
The opinions voiced in The Money Knight podcast with Wade Chessman of Chessman Wealth Strategies are for general information only and are not intended to provide specific advice or recommendations for any individual. Past performance is no guarantee of future results. All indices are unmanaged and may not be invested into directly. Investing involves risk, including possible loss of principal. No strategy assures success or protects against loss. To determine what may be appropriate for you, consult with your attorney, accountant, financial or tax advisor prior to investing.
Investment advisory services offered through CWM, LLC, an Investment Advisor. Carson Partners, a division of CWM, LLC, is a nationwide partnership of advisors.