The Money Knight

Ep 49: What Makes Your Advisor Tick

Your advisor will always be available to provide information and data about financial planning, but how much do you actually know about them beyond the financial plan you’re building? On this episode of the podcast, we’ll pull back the curtain a bit and let Wade share what matters most for him in this industry. From his influences to his frustrations, we’ll learn more about Wade today.
 
What we discuss on this episode: 
1:45 – School starting back
3:11 – Who influenced you early in life?
6:40 – What led you to this career?
8:04 – Influences now
9:40 – Frustrations he has within planning
12:27 – Most gratifying part of the job
14:47 – Mailbag question about retirement withdrawals
 
For additional financial resources, visit us online at http://chessmanwealth.com 
 

Ep 48: Transforming Lives One Step At A Time with Wayne Walker

Wayne Walker is the Founder and Executive Director of OurCalling. A nonprofit organization dedicated to aiding the homeless community by giving them the tools and resources to transform their lives. OurCalling recognizes homelessness as a symptom of a deeper problem. The organization not only offers a hot meal and bed, but therapy relating to trauma, substances, and abuse. Wayne shares his passion for the work he is doing and how God has aided him in this venture.
About our guest: https://www.ourcalling.org/about/ 
 
What we discuss on this episode: 
0:52 – Welcome in Wayne
1:46 – Wayne’s background
4:02 – Story behind the business
6:23 – The challenges to a non-profit
8:14 – Stats about homelessness in Dallas
12:56 – The ‘why’ behind the business
14:56 – What action can people take
16:32 – Special calling for those in need
19:07 – Business principles
21:28 – The lows
24:31 – Highlights
26:13 – How to support OurCalling
 
Show References: 
https://www.dallasnews.com/business/economy/2021/06/06/one-region-two-economies-as-dallas-fort-worth-aims-for-a-record-recovery-the-pandemic-deepens-the-divide-between-haves-and-have-nots/
 
https://dallas.culturemap.com/news/city-life/01-24-19-dallas-fort-worth-worlds-wealthiest-places-wealth-x-mini-millionaires/
 
Important Links:
Chessman Wealth Website: https://www.chessmanwealth.com
Call: 214-572-2120
 
***Wayne Walker is not affiliated with CWM, LLC and opinions expressed by the presenter
may not be representative of CWM, LLC.

Ep 47: Helping School Districts & Ministries with Wes McDaniel

Wes McDaniel is the Founder and Chief Executive Officer of Ideal Impact. Ideal Impact was founded for one purpose - to give back. Wes and his team of energy experts began working with Christian ministries in 2009 with the vision of reclaiming $1 Billion for these ministries to better accomplish their mission. Ideal Impact reached that goal. In 2015, Ideal Impact expanded their reach to Texas school districts and colleges with a new goal of $10 Billion for Christian ministry and education. Wes discusses some of the ups and downs that have come along with this career path, the future of the business, and his advice for business owners.
 
About our guest: https://www.idealimpactinc.com/who-we-are/board/ 
 
What we discuss on this show: 
0:33 – Welcome in Wes
1:06 – Background on his business
2:53 – What lead him to start Ideal Impact
5:30 – Biggest challenges he’s faced
9:38 – Future of the business
11:25 – Best moments he’s had
14:39 – Advice he’d give business owners
15:48 – Book recommendations
17:15 – Advice he would give himself looking back
 
Important Links:
Chessman Wealth Website: https://www.chessmanwealth.com
Call: 214-572-2120
 
***Wes McDaniel is not affiliated with CWM, LLC and opinions expressed by the presenter
may not be representative of CWM, LLC.

Ep 46: Do Retirees Really Need Life Insurance?

Ironically, life insurance is a young man’s game. The perception among many people is that your need for life insurance dramatically decreases and perhaps becomes completely unnecessary as you age. Is that really the case? On this episode, let’s explore some ins and outs of life insurance and its various uses.
 
What we discuss on this episode: 
0:50 – How much do you work with life insurance?
2:16 – Why life insurance gets a bad rap?
3:40 – Determining whether you need life insurance
5:44 – How much do I need?
6:50 – Risks of having too much coverage?
7:39 – Advanced strategies
10:39 – Different policies
 
Important Links:
Chessman Wealth Website: https://www.chessmanwealth.com
Call: 214-572-2120

Ep 45: What is Tax Diversification?

The word diversification gets used a lot in the financial planning world but it typically refers to investing. Today we want to explain how to apply diversification to tax planning and why it’s important to utilize each of the three buckets: taxable, tax-deferred, and tax-free.
 
What we discuss on this episode: 
0:32 – The concept of tax diversification
1:27 – The different buckets
6:10 – Balancing the three buckets
7:40 – Does tax strategy change over time?
8:50 – Mistakes that can be made
10:55 – Mailbag question on emergency funds
14:00 – Mailbag question on old 401K accounts
 
Important Links:
Chessman Wealth Website: https://www.chessmanwealth.com
Call: 214-572-2120

Ep 44: Building a Successful Consulting Business with Guest Jeff Wilson

Today we speak with Jeff Wilson, Founder and CEO at Saxony Partners, someone Wade has known for more than 20 years. Wilson and his team at Saxony Partners have built a successful management and digital consulting firm through hard work and consistency. Find out his keys for starting a business, the highs and lows along the way, and how COVID created the toughest year yet.   
 
What we discuss on this episode: 
1:05 – Background on Saxony Partners
4:49 – Jeff’s career before Saxony
12:18 – Low moments during building the business
14:57 – Best moments he’s had
18:14 – Advice he’d give business owners
19:36 – Advice he’d give younger self
21:21 – How to connect with Jeff
 
Important Links:
Chessman Wealth Website: https://www.chessmanwealth.com
Call: 214-572-2120
 

Ep 43: Retirement Planning for Business Owners

Business owners may be particularly vulnerable to some misconceptions and false assumptions about their retirement. Let’s address a few of these issues on today’s show.
Important Links:
Chessman Wealth Website: https://www.chessmanwealth.com
Call: 214-572-2120

Ep 42: Building Your Plan with Jud Mackrill

Wade invites in long-time friend and the CEO Mile Marker, Jud Mackrill. They discuss how business owners need to build a plan and identity that both they and their workers can understand and buy into. They also discuss other common mistakes they see by business owners just starting out, and how Jud has grown as a business owner to his current position today.
 
Important Links:
Chessman Wealth Website: https://www.chessmanwealth.com
Call: 214-572-2120
 

Ep 41: Financial Double-Edged Sword

Many financial circumstances that you’ll find yourself in have both positive and negative aspects. Decisions that you can make have both good and bad consequences. Or as Sir Isaac Newton put it: ”For every action, there is an equal and opposite reaction.”
Important Links:
Chessman Wealth Website: https://www.chessmanwealth.com
Call: 214-572-2120

Ep 40: Common Tax Planning Questions With Sean Phillips

We invite a special guest from the Chessman Wealth office, Sean Phillips. Sean is the Vice President of Wealth Management and Wealth Advisor with a speciality in tax planning. We thought this would be a great time to have him on the show as you get ready to file your 2020 taxes. We cover some of the changes you need to be aware of and answer some common tax questions.
Important Links:
More Info About Sean: https://bit.ly/3sysJgL
Chessman Wealth Website: https://www.chessmanwealth.com
Call: 214-572-2120