Ep 110: Estate Planning, Business Ownership And Beyond with Joel Cavanaugh (Part 2)
We are back with Joel Cavanaugh, partner at Hanna Rasnick Evanchan Palmisano Hobson & Fox LLC, for this episode. Joel handles a wide array of cases in estate planning and has a wealth of knowledge to share with us today. In part one of this two-part episode, we got to know more about Joel and talked about the ins and outs of running a business. In part two, Joel will answer your estate planning questions.
How Safe is Your Money in the Bank Today?
With the recent turmoil in the banking sector, it’s understandable to worry about your bank savings. But before worrying, it’s important to know how your money in the bank is protected. So, how safe is your money, really? Where is my money? First, let’s talk about how your bank actually stores your money. When you […]
Ep 109: Estate Planning, Business Ownership And Beyond with Joel Cavanaugh (Part 1)
Today we are glad to welcome Joel Cavanaugh to the podcast. Joel is a partner at Hanna Rasnick Evanchan Palmisano Hobson & Fox LLC and handles a wide array of cases in the areas of Estate planning. In this two-part episode, Joel will discuss his journey as an attorney and business owner and will answer your questions about Estate planning.
Exploring The Difference Between an Investment and an Expense
In theory, the definitions of an investment or an expense are quite clear-cut. An expense, or cost, is simply the dispensing of time, money, or resources. An investment, while an expenditure, comes with the expectation of a return. [1][2] While the two ultimately have the same goal –to acquire a good or service—their intentions and […]
Ep 108: Financial Planning During Market Loss with Dan Oaklief (Part 2)
Today we are excited to be back with Dan Oaklief, RICP®, CPFA, one of our experienced advisors at BA Schrock Financial Group. For the past three years, Dan has been hosting informative webinars to educate clients on taxes, retirement, and social security planning. In part two of this two-part episode, we’ll talk about the impact of the current market on retirement planning and touch on some financial spring-cleaning tips.
Navigating Retirement as a High-Net-Worth Individual
For high-net-worth individuals and families, retirement is a significant shift. A high-net-worth individual, also known as an HNWI, is typically someone with at least $1 million in cash or assets that can be easily converted into cash, including stocks, bonds, mutual fund shares, and other investments.[1] As an HNWI, you may not be too worried […]
Ep 107: Financial Planning During Market Loss with Dan Oaklief (Part 1)
Today we are excited to be joined by Dan Oaklief, one of our experienced advisors at BA Schrock Financial Group. For the past three years, Dan has been hosting informative webinars to educate clients on taxes, retirement, and social security planning. In part one of this two-part episode, we’ll unpack some of the common questions Dan receives from clients about financial planning.
How Banks Work
Banks typically have 10% of their deposits in reserve for when people or institutions make withdrawals. The rest is lent out, which is what grants you the interest rate you receive on your savings accounts, for example. Historically, this balance works well, but when people lose faith in their banks, more people request withdrawals amounting […]
Ep 106: How Retirement Changes Impact Finances (Part 2)
In this episode, we’re spending some time with BA Schrock’s Colleen LeMasters, CFP® to share our process for helping and assisting clients when the face these significant changes that disrupt life and retirement. This is a conversation that we can approach from multiple angles so we’ve broken it out into two parts. Now we’re going to turn our attention to the retirement aspect of this conversation and the changes that often happen to people around this time.
Don’t Underestimate the Importance of Your Mindset Toward Your Finances
The concept of retirement planning is simple. Despite changes in the economy or in life itself, the concept of planning your retirement has remained unchanged. We work, save, retire, and repeat for generations over. But while the concept may be the same, the puzzle has begun to evolve. In other words, individuals and families currently […]
