The Money Knight

Ep 82: How Bonds Work - What Retirees Need To Know

Too many folks misunderstand bonds, how they work, and what role they play in a proper financial plan. We’ll address some of those bond related issues on today’s show.
 
Here’s some of what you’ll learn in this episode:
What is a bond? (2:24)
The difference between owning a bond vs a bond fund. (4:36)
What is the relationship between interest rates and bond values? (8:46)
Can you consider bonds to be a safe part of your portfolio? (12:17)
You need to understand the risk that bonds hold before you invest. (13:50)
 
For more, visit us online: https://www.chessmanwealth.com/ 

Ep 81: Contribution Limit Changes for 2023

Inflation continues to be a big story. In 2022, it went through the roof- we were told it would be transitory, but that ship has sailed.
Though gas prices are down slightly, they are still significantly higher than they were a few years ago. In this episode, we will discuss how inflation is affecting the world right now and will share some perspectives that you may not have considered, as well as recent contribution changes.
Here’s some of what you’ll learn in this episode:
Listen here to hear our thoughts on inflation. (0:33)
Is there a positive side to inflation? You might be surprised at the answer. (2:35)
Is a big increase in social security a good thing? (7:17)
This episode’s Kingdom Minute: Cosigning on loans. (12:16)
For more, visit us online: https://www.chessmanwealth.com/ 

Ep 80: Making Smart Decisions During Major Life Events

We all make poor decisions from time to time, but we want to be sure to make the right ones when the stakes are high.
In this episode, we will explore some of the things you should be thinking about to make smart financial decisions when you encounter some of the most significant events in your life.
Here’s some of what you’ll learn in this episode:
What to consider when going through a job change. (1:40)
How your advisor can help you through a divorce. (3:23)
Here are some decisions you may have to make with an inheritance. (6:49)
For more, visit us online: https://www.chessmanwealth.com/ 

Ep 79: 5 Common Questions People Asked When Forced Into Retirement

For anyone being forced into retiring earlier than they planned (or at least being presented with that option), we’ve found that there are often some common questions that they’re asking.
In this episode, we will answer those questions and go over some scenarios that you may want to consider.
Here’s some of what you’ll learn in this episode:
Should you accept a buy-out offer from work? (0:59)
Should you take your pension in a lump sum or in payments? (3:41)
Is it tough to get a job around retirement age? (8:20)
Discipline might not sound fun, but without it, chaos ensues. (10:45)
For more, visit us online: https://www.chessmanwealth.com/ 

Ep 78: Warning Signs - How to Spot Problems in Your Financial Life

Just like the lights on your dashboard can indicate if something is wrong with your car (like low tire pressure or leaking oil), there are indicators in your financial life that might point out that you have a problem that needs to be addressed.
Let’s talk about some of the most common warning signs we see from pre-retirees and discuss what action you might need to take.
Here’s some of what you’ll learn in this episode:
Do you know what it costs to fund your lifestyle? (2:04)
Are you more focused on net worth than generating an income? (3:25)
Have you prepared for long-term care? (9:09)
For more, visit us online: https://www.chessmanwealth.com/ 

Ep 77: Tools to Help You Budget Better

It’s a somber day for those using the Mvelope budgeting program we have talked about before with clients. They went out of business. The hunt for new budgeting tools inspired us to share some budgeting tools and our thoughts on them.
Do you know where you are spending your money? Even if you think you do, it could be time to revisit your budget and see if there are any expenses or splurges you’re missing. Listen to learn about the budgeting tool we are going to try out and how it might help you.
 
Here’s some of what you’ll learn in this episode:
The downside to ‘Every Dollar’, by Dave Ramsey. (4:48)
The program we signed up for; A Biblically-based ministry called ‘Money Wise’. (7:04)
How using a budgeting program can make a huge difference for you. (9:24)
For more, visit us online: https://www.chessmanwealth.com/ 

Ep 76: Going Against the Grain

Being a good advisor isn’t about winning a popularity contest or just saying the same things that everyone else in the industry says. It’s about giving the best advice that you can for each individual situation.
On today’s show, we’re going to peel back the curtain to discuss some areas where a good financial advisor’s opinions might go against the grain with mainstream ideas in the industry.
 
Here’s some of what you’ll learn in this episode:
What is the appropriate amount of risk for a pre-retiree? (2:00)
How should you handle debt? Is all debt bad? (6:00)
Are annuities good financial tools? (8:17)
How much cash should you keep in the bank? (10:57)
For more, visit us online: https://www.chessmanwealth.com/ 

Ep 75: Smart Choices Wealth Management Solution

Sometimes it’s important to dive into the process behind what we do, so you know what to expect with Smart Choices Wealth Management Solution. Our process didn’t happen by accident. We have very intentional steps we take through the financial planning process.
In this episode, you will learn about the services we offer, and how we collaborate and brainstorm with other professionals to your benefit. Learn about each step in our process so you can determine if we may be a good fit for you.
Here’s some of what you’ll learn in this episode:
How the Discovery Meeting enables you to make smart choices. (2:23)
The Smart Choices Strategy Meeting will set you up with a financial plan, without committing to implementation. (3:28)
The Advanced Planning Meeting utilizes various professionals in different areas of expertise. We share your case with them anonymously and get feedback on other areas of financial planning. (5:14)
How we go about monitoring progress. (6:26)
For more, visit us online: https://www.chessmanwealth.com/ 

Ep 74: Smarter Giving at Compassion International with Jim Kirk

If you have listened to our podcast before, you know we are advocates of giving. Today we have Jim Kirk with us. We will talk about an organization we have been supporting and show you how you can give smarter.
Compassion International is an organization that allows you to sponsor children globally experiencing poverty. Giving through compassion can be as simple as a small monthly donation. We would like to focus on how you can contribute assets to charity to serve them more effectively while helping yourself simultaneously.
Here’s some of what you’ll learn in this episode:
Who Jim is and how he got involved with Compassion International. (0:48)
What Compassion International is. (2:50)
Ways you can broaden your horizons in giving, by donating assets. (7:14)
You can give smarter by benefiting the organizations you support (and yourself) more efficiently. (10:22)
Setting up a way to donate to a charity after you pass away. (14:05)
Learn more about Compassion International: https://www.compassion.com/
For more, visit us online: https://www.chessmanwealth.com/ 

Ep 73: How Procrastination Negatively Affects Your Financial Future

We’re all guilty of putting off things longer than we should, but doing it with your money could create some serious problems.
People have many reasons for procrastinating when it comes to putting a retirement plan together. Let’s explore some of those excuses and why they can be dangerous, and talk about how to overcome them.
Here’s some of what you’ll learn on this episode:
Why planning has become much more difficult and important than it was for your parents. (2:07)
Who should you be listening to when it comes to financial planning? (4:57)
How we help someone that stresses out when it comes to money. (7:32)
How our process helps people take that first step towards financial planning. (10:01)
This week’s Kingdom Minute on a great new resource we found. (14:28)
For more, visit us online: https://www.chessmanwealth.com/