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

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!

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

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

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

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
 

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