Wealth by Design

Danielle G. Nava, CFP® and Dustin R. Granger, CFP®
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Wealth by Design Podcast

*Formally known at Worth It Podcast* Welcome to Wealth by Design, a financial planning podcast for successful, modern-day biz owners + creative entrepreneurs. Here, you'll get the tools you need to dream, design, and do what it takes to live life on your terms. Danielle & Dustin, a brother & sister CFP®️ duo, are devoted to educating modern-day entrepreneurs about life, biz, and financial planning so they can create a blueprint to real wealth. Together, they cover topics about the unique challenges and opportunities presented by self-employment and entrepreneurship. Each episode is designed to show you how to feel secure, wealthy, and in control of your money + biz. Ready to get started? Tune in. You can also take the first step in designing a life on your terms with our FREE guide, Wealth by Design: Your Blueprint to Real Wealth + Security: toujoursplanning.com/blueprint. Dustin R. Granger, CEO & CFP ®️ Danielle Granger Nava, VP & CFP ®️ For a list of states in which the LPL Financial Registered Representatives associated with this site are registered to do business, please visit www.toujoursplanning.com. Securities offered through LPL Financial. Member FINRA/SIPC (www.finra.org | www.sipc.org). Investment advice offered through GWM Advisors, a registered investment advisor. GWM Advisors and Toujours Planning are separate entities from LPL Financial.

  1. MINISODE: Hurricane Hiatus - An Update on the Wealth by Design Podcast

    12/10/2020

    MINISODE: Hurricane Hiatus - An Update on the Wealth by Design Podcast

    Hello, loyal listeners! We wanted to let you know that we have a quick update on the podcast and a few things that are happening over at Toujours Planning right now. As you may know, we are a Lake Charles-based business and family, and our community, homes, and offices were devastated by Hurricane Laura in August. While we work to rebuild our community and also weather other storms that have come through the area, we are taking a break from the Wealth by Design podcast. We do not know how long it will take to return to “normal,” whatever that means. In the meantime, we ask that willing listeners of the podcast donate to Lake Charles and Louisiana recovery efforts. We are personally supporting the Community Foundation of Southwest Louisiana, an organization that has helped care for people who’ve lost their homes and livelihoods, as well as get our community up and running again. If you are able and interested, please donate here: https://www.foundationswla.org/ In the meantime, we thank you for being a listener of the Wealth by Design podcast, and we hope to be back on the airwaves soon! LINK TO DONATE: https://www.foundationswla.org/ CONNECT WITH DANIELLE AND DUSTIN Ask Your Questions On Facebook On Twitter See you in 2021!

    4 min
  2. MINISODE: Do You Need a Financial Advisor or a Certified Financial Planner™?

    22/09/2020

    MINISODE: Do You Need a Financial Advisor or a Certified Financial Planner™?

    When you decide to get your financial ducks in a row, you probably start to look for help with a good old Google search. But when you look up “financial advisor,” “financial planner,” “planning for retirement” or any variation of your financial needs… you might get confused. Quickly. Why? Because there are so many titles for financial professionals out there. Do you need a financial planner? A financial advisor? An investment professional? A money coach? And what are those initials after their names?! In this minisode, Dustin briefly describes the different types of financial professionals and designations you may see and explains when you’ll want to call a CERTIFIED FINANCIAL PLANNER™ professional. WHAT YOU’LL LEARN The different titles of financial professionals The designations and licenses that financial advisors may have What a CERTIFIED FINANCIAL PLANNER™ professional does How a CFP® can help you The three Es of the CERTIFIED FINANCIAL PLANNER™ designation Watch this week’s episode: https://youtu.be/3UQ7soViuUg  Want more quick tips like this? Make sure you’re subscribed to the Wealth by Design podcast! This material is for general information only and is not intended to provide specific advice or recommendations for any individual. RESOURCES & PEOPLE MENTIONED How to choose which financial professional you need: Episode 015  Sign up for our free Know Your Numbers challenge! Check out our DIY Financial Planning Course Our YouTube Channel Schedule a free call with us — Are we a good fit for your financial planning needs? CONNECT WITH DANIELLE AND DUSTIN Ask Your Questions On Facebook On Twitter

    5 min
  3. MINISODE: Are You Falling into This Stock Market Trap?

    08/09/2020

    MINISODE: Are You Falling into This Stock Market Trap?

    Sir John Templeton, an American-born British investor, banker, fund manager, and philanthropist, said this on investing: “Bull markets are born on pessimism, grown on skepticism, mature on optimism, and die on euphoria.” He was named “the greatest global stock picker of the century” by Money in the 1990s, so we’re inclined to listen to his advice.  In this new minisode, Dustin breaks down each part of Sir Templeton’s quote. He also discusses timing the stock market, why it’s a bad idea, and what you should do instead.  WHAT YOU’LL LEARN The “stock market trap” How fear clouds our judgment ...and greed affects it, too Pick a strategy and stick with it for awhile This material is for general information only and is not intended to provide specific advice or recommendations for any individual. RESOURCES & PEOPLE MENTIONED   More on fear and greed in investing in Episode 104 More on timing the market in Episode 107 Check out our new program, Wealth by Design™ DIY! Join the Know Your Numbers challenge Schedule a free call with us — Are we a good fit for your financial planning needs?   CONNECT WITH DANIELLE AND DUSTIN Ask Your Questions On Facebook On Twitter

    5 min
  4. MINISODE: Should You Have a Joint Account with Your Partner?

    25/08/2020

    MINISODE: Should You Have a Joint Account with Your Partner?

    We’ll keep the intrigue to a minimum. In our opinion, the answer to this question is a resounding yes.  Whether you’ve just gotten married (congrats!) or you’re in a committed, long-term relationship, it may be a good idea to have a joint account with your partner. Sharing your finances with your partner builds trust. Keeping them separate can breed suspicion and worry; plus, separate accounts keep your partner out of the loop on your day-to-day spending and savings habits. Why do partners keep separate accounts? It may be a leftover habit from when you were dating. Or, you may have seen your parents control their accounts separately and assume that’s the best, or only, option.   The good news is, there’s still time to change things if you’re considering opening a joint account. Tune in to the full minisode for all the deets from Dustin! It’s only a few minutes, so you have no excuse to not tune in... WHAT YOU’LL LEARN Reasons why people might keep separate accounts Community property laws The importance of trust in a marriage Arguments against joint accounts (that are actually red flags) This material is for general information only and is not intended to provide specific advice or recommendations for any individual. RESOURCES & PEOPLE MENTIONED   The nine community property states The other states follow equitable distribution laws Check out our new program, Wealth by Design™ DIY! Join the Know Your Numbers challenge Schedule a free call with us — Are we a good fit for your financial planning needs?   CONNECT WITH DANIELLE AND DUSTIN Ask Your Questions On Facebook On Twitter

    5 min
  5. MINISODE: When Stock Markets Dip and Bounce Back

    11/08/2020

    MINISODE: When Stock Markets Dip and Bounce Back

    In March of 2020, we saw the stock market tumble 30% in one month. In the following few months, we’ve gained most of that back. What is happening?? In this minisode (seriously, it’s less than three minutes!), Dustin recaps what a stock actually is — in case you’ve forgotten amidst all the panicked COVID-19 stock market talk — and how stocks are bought and sold. He discusses how people’s emotions cause those peaks and valleys in the stock market, and how you can avoid that dangerous herd mentality when it comes to your own investing. WHAT YOU’LL LEARN What a stock is The basics of buying and selling stocks How fear and greed cause swings in the market  Dustin’s secret to investing This material is for general information only and is not intended to provide specific advice or recommendations for any individual. RESOURCES & PEOPLE MENTIONED   Dustin shares more stock market basics in Episode 7! More on fear, greed, and herd mentality in Episode 10 Check out our DIY Financial Planning Course Sign up for our free Know Your Numbers challenge We have more minisodes on our YouTube Channel Schedule a free call with us — Are we a good fit for your financial planning needs?   CONNECT WITH DANIELLE AND DUSTIN Ask Your Questions On Facebook On Twitter

    5 min
  6. 112: Growing a Business & Wealth with Katell and Jon of Reverielane

    04/08/2020

    112: Growing a Business & Wealth with Katell and Jon of Reverielane

    Katell and Jon, a husband and wife design team, are founders of Reverielane, a purpose-driven brand and web design firm. Katell’s experiences living in The Ivory Coast in Africa and France have honed her keen eye for design. Paired with her entrepreneurial drive, as well as Jon’s technical skills and creative spirit, led to the growth of Reverielane.  We were so excited to talk to Katell and Jon about Reverielane, their thoughts on investing and building wealth, and their long-term goals for their business and personal lives. WHAT YOU’LL LEARN [02:00] How and why Katell started Reverielane [05:14] What “living life on your own terms” means to Jon and Katell [08:39] What it means to build wealth [11:00] Investing and growing assets [13:54] Jon and Katell’s investment goals [17:09] Our guests’ thoughts on debt [18:48] Preparing for the unknown [20:49] Long-term goals for Reverielane [28:11] Jon and Katell’s underlying passions outside of the business Reverielane’s origin story Katell moved to the United States from France in 2010. Rather than starting a new career working for someone else, she decided to go all in and launch a graphic design business. “When I moved here, I saw the possibility of creating something on my own,” said Katell. “And I decided to go that way instead.” Katell took the first few years to hone her graphic design skills. With Jon still working a traditional job, the timing was perfect to launch Reverielane. Plus, starting her own business that would also work with a family lifestyle was always one of Katell’s goals. “I’ve always wanted to make my own money,” said Katell. “Creating something that I could do from home and raise the kids, that seemed like the cherry on top.” Jon was working with Katell on Reverielane, kind of as his “night job” in addition to his regular job. But when they both realized the potential to grow Reverielane and looked at what it could become, he decided to go all in and work on it full-time.  At the beginning, Katell and Jon had different mindsets on income and investing.  “The initial step was, ‘let’s survive the first month,’” said John. “Katell came in and said, ‘No, this needs to be our financial goal right away.’”  He realized she was right. By making space for investing in Reverielane from the beginning, they were able to look beyond that month-to-month idea of simply making ends meet. They were on a path to growing their wealth.  Living life on their own terms Katell pointed out that running a business with your partner sounds, in theory, “very idyllic and fun,” but it’s hard work. Making that decision to have only one income source was tough, but it was how they could work towards their dreams. Flexibility was key: the flexibility to work from home, to travel if they wanted, and also to give to others if they had the means. Flexibility played an important role in their other decisions, too. Jon and Katell chose Southern California as a place to settle down, grow the business, and raise a family, but they were always open to other options should the need arise. “Not that you want to be moving every six months, but the mindset helped us feel confident in our decision,” said Jon. “It was awesome to get to move based on our own desires, rather than what was pulling us.” Flexibility also influences how they run Reverielane. For example, creative work in their industry tends to fluctuate. Rather than stick to a monthly budget for the business, they budget by quarter instead. That’s a great tip for creative entrepreneurs: you don’t have to follow certain rules because that’s the way you’re “supposed” to operate a business. Be flexible and do what works for you. Building wealth to give back What’s in the cards for Katell and Jon in the future? Of course, Reverielane’s success is one of their goals. Offering more options to clients and customers and scaling the busines

    36 min
  7. [Summer Remix] 102: Net Worth is King

    03/08/2020

    [Summer Remix] 102: Net Worth is King

    We talk about fear a lot on our podcast. Fear is natural and, TBH, necessary. But when it comes to finances, three types of fear tends to hold us back: from investing, from charging clients what we’re worth, or from taking chances when building a business. Fear can also make you focus on the wrong thing when it comes to your net worth. Paying down debt rather than building up your assets, to be specific. And that’s what we discuss in this week’s episode: where our fear of the “debt boogeyman” comes from, our three-step strategy on how to overcome it, and what part of your finances you should be focusing on instead.  WHAT YOU’LL LEARN The first of our Nine Commandments What is your net worth? Debt vs. assets: which should you focus on more? How we got inspiration for this episode Why the Dave Ramsey way of looking at debt is problematic The types of assets you need Where did Millennial “fear of debt” come from? How to change your debt-fearing mindset Steps to building a positive net worth A couple of analogies for paying down debt and building assets Assets - Liabilities = Net Worth “Net Worth is King.” That’s our second of Nine Commandments, after “Leave the Punch Clock Mindset Behind.” (A little insider info for you: we’ll be talking about our other commandments in future episodes!) So what is your “net worth,” exactly? Simply put, your net worth = your assets - your liabilities.  You want a positive net worth, which is where you have more assets than liabilities. “Own more things than you owe,” as Dustin put it in this episode. As simple as that sounds, we see more people focus on paying down their debt rather than building their assets. That’s partly because our culture focuses on debt so much, even though assets are just as important, if not more so.  The Problem with Focusing on Debt Let’s be real: our society’s obsessed with debt.  And honestly, we blame Dave Ramsey and his Debt Snowball Plan. Yeah, we said it.  We won’t go into too much detail about his methodology (which we have linked in the show notes if you’re really interested), but generally, he advises people to attack their debt first. Once it’s all gone, then you should invest, he says. But there’s a fatal flaw in that plan: all those years you spend paying down debt only are years you could be saving thanks to compounding interest! But we keep shooting ourselves in the foot by paying down debt… because we’re scared! Where does this fear of the debt boogeyman come from? Our parents dealt with the highest interest rates ever to date in history, from the mid-1960s to the mid-1990s. Which, by the way, is the generation that Dave Ramsey comes from. We Millennials were raised to believe that we have to be debt-free before we save or invest. (Thanks, Mom and Dad.) Now, over the last 10 years, interest for debt is at one of the lowest it’s ever been. This means that the Baby Boomer mentality of fearing debt doesn’t really make sense anymore. We need a new way of thinking about debt and assets. How to Work Towards a Positive Net Worth We’ll lead the charge on getting rid of that debt-fearing mindset. Instead of looking at debt as some horrific monster, think of it as a necessary presence instead. You can and will deal with it, but other parts of your financial strategy are more important and will make a bigger impact on your wealth.  Think of it this way: even if you pay down your debt to zero, if you haven’t been saving until that point, you have no wealth. Zero is then your starting point, which is a waste. Choosing the right assets and focusing on saving — at any income level — is more important than paying down debt. Here’s how to do both at the same time. Step one: Pay off your high-interest debt first. We typically think of anything over 6% as high interest, like credit card debt. Get rid of it; pay off your credit card debt on a monthly basis. This is the only th

    26 min
  8. [Summer Remix] 101: Robo-advisors: Your New Best Friend or Your Worst Enemy?

    21/07/2020

    [Summer Remix] 101: Robo-advisors: Your New Best Friend or Your Worst Enemy?

    The robots have taken over. Just kidding. In reality, robots haven’t taken over — but they have taken over a major chunk of the financial industry in the form of robo-advisors. A lot of people assume that we’re going to bash on robo-advisors (“The robots are taking your jobs!”) or that we will tell them a human advisor is the only way to go.  But the truth is, we think robo-advisors are actually pretty useful. Of course, there’s a time and a place to use them, which is exactly what we cover in this episode of Wealth by Design. WHAT YOU’LL LEARN Dustin’s concerns about robo-advisors earlier in his career Why they’re not a threat to the financial planning industry What robo-advisors are  Why it’s not a question of which to use, but when to use each The questions that may come up around using a robo-advisor The major downside to robo-advisors (hint: it’s about customer service) The limiting beliefs that come when people consider hiring a financial advisor The biggest question clients have about an advisor The scary stories in the media that might discourage you from enlisting help What you should feel when you find the right robo-advisor 11:32 What robo-advisors can’t do (spoiler alert: it requires ears) How to have your cake and eat it too The risk of letting the noise win When to go with a robo-advisor The rise of the subscription advisor How a hybrid of human + robo-advisor can help you navigate complexity When you should go all-in on a human advisor The need for customization as you grow your wealth How Dustin + Danielle use robo-advisors in their own business WHAT IS A ROBO-ADVISOR… EXACTLY? You might not be using the term “robo-advisor,” but you might be using one. Sites like e-Trade, Charles Schwab, Ellevest, Betterment, Acorn, and others all offer an automated, algorithm-based, and accessible way to invest for a low cost. Usually, you can create an account, tell them your goals, the amount you wish to invest, and the types of stocks or funds you’d like to invest in (optional), and you’re off to the races. It’s that easy to start investing with robo-advisors, which we think is pretty neat.  Robo-advisors are: Algorithm-based. They take data to determine the best fit for your investment needs, and they pair you up with the right stocks and funds to make selection super easy and quick.  A little cookie-cutter. How could they not be? A robot can’t understand the nuances of every element of your financial life and goals (thank god). So, you’ll want to ask yourself, “Am I OK with a little cookie-cutter advice to get my investments off the ground?” Cheap. For those of you out there who are super conscious of price, robo-advisors are great. They’re some of the lowest-priced advisor services out there, but you know what they say — you get what you pay for. Pretty DIY. Robo-advisors don’t have a human advisor on the line, waiting to answer your calls. Sure, there’s tech support and a few resources to help with your questions, but they’re going to be fairly general. IS A ROBO-ADVISOR RIGHT FOR YOU? In this episode, we cover a lot of ground about what exactly a robo-advisor is, as well as when to choose one. We talk about scenarios that make you prime for a robo-advisor, like: When you are just starting out with investing.  If you’re a total DIYer with your finances. Your situation is pretty simple (no kids, not a ton of money to invest yet, etc.). We also walk you through the scenarios that might make a robo-advisor a “tighter squeeze” for you, such as if you: Have a thriving business and high levels of income (and no clue what to do with it). Are sick of DIYing your finances, or managing all the complexity alone. Are second-guessing the investments you’ve got now, or you’re not getting the results you want from them. Want a more customized, tailored financial plan that covers more than

    51 min
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About

*Formally known at Worth It Podcast* Welcome to Wealth by Design, a financial planning podcast for successful, modern-day biz owners + creative entrepreneurs. Here, you'll get the tools you need to dream, design, and do what it takes to live life on your terms. Danielle & Dustin, a brother & sister CFP®️ duo, are devoted to educating modern-day entrepreneurs about life, biz, and financial planning so they can create a blueprint to real wealth. Together, they cover topics about the unique challenges and opportunities presented by self-employment and entrepreneurship. Each episode is designed to show you how to feel secure, wealthy, and in control of your money + biz. Ready to get started? Tune in. You can also take the first step in designing a life on your terms with our FREE guide, Wealth by Design: Your Blueprint to Real Wealth + Security: toujoursplanning.com/blueprint. Dustin R. Granger, CEO & CFP ®️ Danielle Granger Nava, VP & CFP ®️ For a list of states in which the LPL Financial Registered Representatives associated with this site are registered to do business, please visit www.toujoursplanning.com. Securities offered through LPL Financial. Member FINRA/SIPC (www.finra.org | www.sipc.org). Investment advice offered through GWM Advisors, a registered investment advisor. GWM Advisors and Toujours Planning are separate entities from LPL Financial.

Information

  • Creator
    Danielle G. Nava, CFP® and Dustin R. Granger, CFP®
  • Years Active
    2017 - 2020
  • Episodes
    100
  • Rating
    Clean
  • Copyright
    © Copyright 2020
  • Show Website
    Wealth by Design

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