Financial Advisors Say The Darndest Things A.B. Ridgeway

In this episode, host AB Ridgway shares a personal story about his childhood fear surrounding the bedtime prayer "Now I Lay Me Down to Sleep," leading to an important discussion on the importance of financial planning and the legacy we leave behind.
Key Takeaways:
The Power of Instructions: Instructions are essential in various aspects of life, from taking care of a wound to managing finances. Just like how medical professionals provide care instructions post-surgery, individuals must leave clear financial instructions to ensure their loved ones are well taken care of in their absence.Facing the Reality of Death: Ridgway emphasizes that death is an inevitable reality that we must prepare for. Avoiding the topic does not mitigate its impact. Instead, planning for it by leaving clear financial instructions can provide peace of mind and stability for our families.The Importance of Financial Instructions: Writing down financial instructions is crucial. Ridgway advises against recording sensitive details like account numbers in insecure locations. Instead, he suggests creating a framework of financial wishes and storing it securely, ensuring that those left behind can access and execute these plans effectively.Consequences of Neglecting Financial Planning: Ridgway shares a poignant story of a client who failed to update her beneficiaries, resulting in her son-in-law, whom she disliked, inheriting her estate. This example underscores the potential pitfalls and unintended consequences of neglecting to update and specify financial plans.Taking the First Step: Even simple instructions can have a significant impact. Ridgway illustrates how a few sentences outlining basic wishes can guide a financial advisor to create a comprehensive plan. This initial step is critical in ensuring that one’s financial legacy aligns with their intentions.Quotes:
"Death is a reality that we all have to face, and we can't just put our heads under the covers and hope that we will be okay in the morning.""When you leave good instructions and have an executor follow those instructions as written, you will have more success."💵Sign up for a Christian Finance Consultation and create your Financial Plan Today!
https://calendly.com/abridgewaywm/consultation
Next Steps
📞 Have a question for the show? Email us at: aridgeway@abrwealthmanagement.com
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*Disclaimer: This communication is not intended as an offer or solicitation to buy, hold or sell any financial instrument or investment advisory services. Any information provided has been obtained from sources considered reliable, but we do not guarantee the accuracy or the completeness of any description of securities, markets or developments mentioned. This is strictly for information purposes. We recommend you speak with a professional financial advisor.

AB Ridgeway returns from a brief hiatus to share exciting updates and improvements to the podcast and website. He emphasizes the goal of the podcast: to teach listeners to be rich in spirit and righteous in action, regardless of their financial status.
Ridgeway discusses the importance of making financial information easily accessible and announces new resources, such as blogs and downloadable financial planning tools.
Key Takeaways
Improved User Experience: AB Ridgeway has been working diligently to enhance the podcast and website experience. The goal is to make financial information accessible and actionable, whether you're listening on Apple Podcasts, Spotify, or the website. The updated site now includes blogs, tools, and resources to complement each episode, providing a comprehensive learning experience.Balancing Life and Finances: Ridgeway highlights the common struggles of busy executives and parents, such as balancing work and family life. Through practical examples, like choosing a family-friendly vehicle, he emphasizes that financial decisions should align with personal and familial needs, regardless of income level.Actionable Financial Planning: The podcast stresses the importance of breaking down complex financial plans into manageable steps. Ridgeway suggests focusing on three immediate actionable items to avoid feeling overwhelmed. This approach helps clients make steady progress towards their financial goals.Educational Resources: To support listeners' financial journeys, the podcast offers various free resources on the website, including investment review guidelines and decision-making flowcharts. These tools are designed to empower individuals to make informed financial decisions independently.Community Engagement: Ridgeway encourages listener feedback and interaction. By commenting, sharing, and engaging with the content, listeners not only improve their own financial literacy but also help shape the direction of the podcast. This community-driven approach ensures the content remains relevant and valuable.Quotes
"My goal of this podcast is to teach you how to be rich in spirit and righteous in action at any income level.""No matter how much money that you have, inflation affects everyone... policies that are passed by our nation can affect everyone, good or bad."🌍 New Website: https://www.abrwealthmanagement.com/podcast
⛪Free Christian Resources: https://www.abrwealthmanagement.com/financial-planning-resources
💵Sign up for a Christian Finance Consultation and create your Financial Plan Today!
https://calendly.com/abridgewaywm/consultation
📞 Have a question for the show? Email us at: aridgeway@abrwealthmanagement.com
*Disclaimer: This communication is not intended as an offer or solicitation to buy, hold or sell any financial instrument or investment advisory services. Any information provided has been obtained from sources considered reliable, but we do not guarantee the accuracy or the completeness of any description of securities, markets or developments mentioned. This is strictly for information purposes. We recommend you speak with a professional financial advisor.

In this episode of "Financial Advisors Say the Darnedest Things," host AB Ridgeway explores the concept of wealth and what it truly means to be rich. He challenges listeners to rethink their perceptions of money and self-worth, emphasizing that the idea of being "rich" is highly subjective and influenced by our backgrounds and environments. Ridgeway also delves into the importance of aligning one's financial goals with their values and the potential pitfalls of idolizing wealth over character.
Key Takeaways
Wealth is Subjective: The concept of being rich varies significantly depending on personal experiences and upbringing. For instance, someone from a low-income background might see $1 million as a fortune, while a child of a wealthy entrepreneur might view it merely as a business loan. Understanding that wealth is subjective helps us realize that there's no universal standard for being "rich."Comparison and Self-Worth: People often compare their wealth to those around them, affecting their self-worth. Ridgeway points out that we tend to measure ourselves against our immediate peers, not against billionaires like Elon Musk. This comparison can lead to unnecessary feelings of inadequacy and stress.Levels of Wealth Perception: Ridgeway describes three levels of wealth perception: those who don't recognize luxury, those for whom luxury is the norm, and those who have transcended materialism. Each level brings different social interactions and expectations, highlighting that true contentment comes from within rather than external validation.The Symbolism of Wealth: Material possessions like cars or houses often serve as symbols of success, but their value is highly dependent on the observer's perspective. Ridgeway uses the example of a luxury car to illustrate how different people perceive wealth differently based on their familiarity and personal context.Aligning Wealth with Values: It's crucial to ensure that the pursuit of wealth aligns with one's values and character. Money should be a tool to enhance one's life and the lives of others, not an end in itself. Ridgeway emphasizes the importance of ethical wealth accumulation and using money for positive impact.Quotes
"The idea of being rich or even feeling rich is subjective. What seems like a lot of money to one person might be just a starting point for another.""We tend to attach our self-worth to those we feel most connected to. If our neighbor makes more money, we might feel less valuable, but we don't compare ourselves to billionaires.""True wealth isn't about the amount of money you have; it's about how you use it to improve your life and the lives of others. Money should be a supplement to your character, not a substitute."💵Sign up for a Christian Finance Consultation and create your Financial Plan Today!
https://calendly.com/abridgewaywm/consultation
*Disclaimer: This communication is not intended as an offer or solicitation to buy, hold or sell any financial instrument or investment advisory services. Any information provided has been obtained from sources considered reliable, but we do not guarantee the accuracy or the completeness of any description of securities, markets or developments mentioned. This is strictly for information purposes. We recommend you speak with a professional financial advisor.

In this episode of Financial Advisors Say The Darndest Things, host AB Ridgeway guides listeners through the process of hiring a Christian financial advisor. The discussion emphasizes the accessibility of financial advisors to people of all income levels and delves into the specifics of different types of advisors, the importance of identifying personal financial needs, and how to choose the right advisor for those needs. Ridgeway also highlights the unique value of Christian financial advisors who align financial planning with biblical principles.
Key Takeaways
Financial Advisors for Everyone Financial advisors aren't just for the wealthy; people of all incomes can benefit from their services. They assist with a variety of financial planning needs such as debt management, savings, and investment strategies. Understanding that these services are accessible can empower more individuals to seek professional advice to reach their financial goals.Identifying Your Financial Needs Before hiring a financial advisor, it's crucial to identify your top financial issues. Whether you're worried about retirement, managing investments, or charitable giving, knowing what you need help with will guide you to the right type of advisor. Writing down your primary concerns can clarify whether you need a simple financial coach or a more complex advisor.Types of Financial Advisors There are various types of financial advisors, including fee-only advisors, investment advisors, and Christian financial advisors. Fee-only advisors are paid directly by clients and have a fiduciary responsibility to act in their best interest. Christian financial advisors integrate faith-based principles into their advice, avoiding investments that conflict with Christian values.Understanding Financial Advisor Costs The cost of working with a financial advisor varies based on your financial situation and the services you need. Those with less than $100,000 might benefit from a one-time financial plan, while those with more substantial assets might seek ongoing advisory services. It's also possible to find pro bono financial planning services through organizations like the Financial Planning Association.The Role of Technology in Financial Advising Online financial advisors offer the convenience of remote services, allowing clients to work with advisors across different states without the need for travel. This can be especially beneficial for families spread across various locations. While there is a learning curve with technology, modern tools like Zoom and DocuSign facilitate seamless interactions and document management.Quotes
"A financial advisor is not a luxury only reserved for the ultra-wealthy. Investors of all incomes can work with a financial advisor.""Writing down your top three issues you want to solve will help you decide which financial advisor you need or if you even need a financial advisor at all."💵Sign up for a Christian Finance Consultation and create your Financial Plan Today!
https://calendly.com/abridgewaywm/consultation
*Disclaimer: This communication is not intended as an offer or solicitation to buy, hold or sell any financial instrument or investment advisory services. Any information provided has been obtained from sources considered reliable, but we do not guarantee the accuracy or the completeness of any description of securities, markets or developments mentioned. This is strictly for information purposes. We recommend you speak with a professional financial advisor.

Episode Summary:
In this episode AB Ridgeway reflects on the retirement of Pat Sajak after 41 years of hosting "Wheel of Fortune." Ridgeway discusses the implications of Sajak's departure and the broader themes of retirement, identity, and financial preparedness.
End of an Era in Television:Pat Sajak's retirement marks the end of an iconic era in television history. Hosting "Wheel of Fortune" since 1981, Sajak has been a fixture in American homes, making his departure a significant cultural moment.The transition to Ryan Seacrest is a reminder of the inevitability of change, even in long-standing traditions. This shift reflects broader trends in the entertainment industry where legends are succeeded by new faces.The Complexity of Retirement Decisions:Retirement is not just about financial readiness but also emotional and identity considerations. Sajak's decision to retire at 77 underscores the complexity of such a life transition.Many individuals, including celebrities like Sajak, find it challenging to step away from a career that has defined them for decades. This episode highlights the importance of preparing mentally and emotionally for retirement, not just financially.Financial Preparedness and Planning:AB Ridgeway emphasizes the critical need for comprehensive financial planning to ensure a comfortable retirement. This includes updating beneficiaries, managing assets, and understanding tax implications.The episode advises listeners to prepare for retirement early, highlighting the risks of inadequate savings and the potential financial struggles that can arise without proper planning.Navigating Post-Retirement Life:Adjusting to life after retirement involves several stages, including the honeymoon period, potential regret, and eventually redefining one's identity. Sajak's journey serves as a case study for these phases.The episode suggests that retirees engage in meaningful activities and hobbies to fill the void left by their professional careers. This helps maintain mental and emotional well-being during retirement.Legacy and Ethical Will:Ridgeway discusses the importance of leaving an ethical will, which includes sharing stories, values, and experiences with loved ones. This ensures that the legacy goes beyond material wealth.For public figures like Sajak, documenting their journey through autobiographies or documentaries can preserve their legacy and inspire future generations.Quotes:
"How many times have we dedicated our lives and our ambitions to one organization only to be turned away by their own personal agendas?""Creating a life that you don't have to take a vacation from is a goal we should all strive for.""When will you stop working? Is your family prepared for when you stop? Do you have your finances in order?"💵Sign up for a Christian Finance Consultation and create your Financial Plan Today!
https://calendly.com/abridgewaywm/consultation
*Disclaimer: This communication is not intended as an offer or solicitation to buy, hold or sell any financial instrument or investment advisory services. Any information provided has been obtained from sources considered reliable, but we do not guarantee the accuracy or the completeness of any description of securities, markets or developments mentioned. This is strictly for information purposes. We recommend you speak with a professional financial advisor.

Summary: In this episode, host AB Ridgeway, a Christian Financial Advisor, delves into the importance of family unity in financial planning and the role of communication in preserving wealth across generations. AB shares personal anecdotes and real-life stories to illustrate the impact of collective family efforts and the dangers of communication breakdowns. Listeners will gain insights into how giving as a family can strengthen bonds and ensure a lasting legacy.
Key Takeaways:
The Power of Collective Responsibility: AB highlights how dividing household responsibilities among family members, like children doing chores, benefits everyone and teaches valuable life skills. When each family member contributes, it creates a sense of unity and shared purpose, making the family more cohesive and efficient.Communication is Key to Preserving Wealth: One of the biggest threats to wealth is not poor investment decisions but a lack of communication between generations. AB shares a cautionary tale of an elderly woman whose $4 million estate was squandered due to a lack of clear instructions and open dialogue with her heirs.Involving Children in Giving: Teaching children about the importance of giving and involving them in the decision-making process can instill lasting values. AB stresses that children should understand the family's philanthropic goals and the reasons behind them, which helps ensure they carry on the legacy responsibly.Establishing Values Over Organizations: Family values should guide philanthropic efforts rather than specific organizations, as organizations and their policies can change over time. By focusing on core values, families can adapt their giving strategies as needed while maintaining their foundational principles.The Impact of Personal Experiences on Giving: Personal experiences, such as AB's family's struggle with Alzheimer's, can significantly influence one's charitable priorities. AB encourages listeners to share their motivations for giving with their children to foster a deep, personal connection to the family's philanthropic mission.Quotes:
"The family that gives together, stays together." - AB Ridgeway"Communication breakdowns, not bad investments, are the biggest threat to preserving wealth across generations." - AB Ridgeway"Do not neglect to do good and to share what you have, for such sacrifices are pleasing to God." - Hebrews 13:16 If you found this episode helpful, please like, comment, and share. Don't forget to subscribe and hit the bell icon to stay notified of our latest content. Let's build a future where faith and finance walk hand in hand!
💵Sign up for a Christian Finance Consultation and create your Financial Plan Today!
https://calendly.com/abridgewaywm/consultation
*Disclaimer: This communication is not intended as an offer or solicitation to buy, hold or sell any financial instrument or investment advisory services. Any information provided has been obtained from sources considered reliable, but we do not guarantee the accuracy or the completeness of any description of securities, markets or developments mentioned. This is strictly for information purposes. We recommend you speak with a professional financial advisor.