Common Sense Financial Podcast

Brian Skrobonja
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Common Sense Financial Podcast

The Common Sense Financial Podcast is all about finances, mindset and personal growth. The goal is to help you make smart choices with your money in your home and in your business. Some of the podcasts here are historical in nature. They aired before July 1, 2022 and were previously approved by Kalos Capital. The views and statistics discussed in these shows are relevant to that time period and may not be relevant to current events. This is intended for informational and entertainment purposes only. It is not intended to be used as the sole basis for financial decisions, nor should it be construed as advice designed to meet the particular needs of an individual’s situation. Investing involves risk, including the potential loss of principal. Any references to protection, safety or lifetime income, generally refer to fixed insurance products, never securities or investments. Insurance guarantees are backed by the financial strength and claims paying abilities of the issuing carrier. Our firm is not permitted to offer and no statement made during this show shall constitute tax or legal advice. Our firm is not affiliated with or endorsed by the US Government or any governmental agency. The information and opinions contained herein provided by the third parties have been obtained from sources believed to be reliable, but accuracy and completeness cannot be guaranteed by our firm. Securities offered only by duly registered individuals through Madison Avenue Securities, LLC. (MAS), Member FINRA & SIPC. Advisory services offered only by duly registered individuals through Skrobonja Wealth Management (SWM), a registered investment advisor. Tax services offered only through Skrobonja Tax Consulting. MAS does not offer Build Banking or tax advice. Skrobonja Financial Group, LLC, Skrobonja Wealth Management, LLC, Skrobonja Insurance Services, LLC, Skrobonja Tax Consulting, and Build Banking are not affiliated with MAS. Skrobonja Wealth Management, LLC is a registered investment adviser. Advisory services are only offered to clients or prospective clients where Skrobonja Wealth Management, LLC and its representatives are properly licensed or exempt from licensure.

  1. Avoid Making These 5 Retirement Mistakes - Replay

    1 NGÀY TRƯỚC

    Avoid Making These 5 Retirement Mistakes - Replay

    “The more money you have, the bigger the mistakes,” someone once told Brian… How does that translate into retirement planning? And how can you help ensure you approach your financial planning for your “golden years” in the best possible way? In this new episode of the Common Sense Financial Podcast, host Brian Skrobonja goes over five retirement mistakes that you should stay away from at all costs, as well as what retirement is actually about. Brian touches upon something that a very successful person told him when he was getting started with his business back in 1993: ‘The more money you have, the bigger the mistakes.’ With his desire to work hard and strong work ethic, Brian quickly became successful. But there was a problem with his approach – Brian opens up about that. Brian shares some of the retirement mistakes he has seen people make in his 30-year career. Having a distorted view of what wealth really is and having what Brian calls “vertical diversification” are two common mistakes Brian has seen over and over again in his career. There are many factors to consider when attempting to diversify. You shouldn’t believe that a bank account and a portfolio of public investments are all that’s available to you as you move your diversification horizontally. Brian points out a common practice to avoid: making an investment decision based on the tax deduction alone. When making decisions regarding how you save money, Brian suggests considering how you’ll ultimately use the money. Brian discusses why you shouldn’t have too much dependency on markets nor having complacency. Brian sees retirement as a balancing act between growing money for the future while drawing income for your retirement needs.   Mentioned in this episode: BrianSkrobonja.com   Securities offered only by duly registered individuals through Madison Avenue Securities, LLC. (MAS), Member FINRA & SIPC. Advisory services offered only by duly registered  individuals through Skrobonja Wealth Management (SWM), a registered investment advisor. Tax services offered only through Skrobonja Tax Consulting. MAS does not offer Build Banking or tax advice. Skrobonja Financial Group, LLC, Skrobonja Wealth Management, LLC, Skrobonja Insurance Services, LLC, Skrobonja Tax Consulting, and Build Banking are not affiliated with MAS. The firm is a registered investment adviser with the state of Missouri, and may only transact business with residents of those states, or residents of other states where otherwise legally permitted subject to exemption or exclusion from registration requirements. Registration with the United States Securities and Exchange Commission or any state securities authority does not imply a certain level of skill or training. Advisory services are only offered to clients or prospective clients where Skrobonja Wealth Management, LLC and its representatives are properly licensed or exempt from licensure. This website is solely for informational purposes. Past performance is no guarantee of future returns. Investing involves risk and possible loss of principal capital. No advice may be  rendered by Skrobonja Wealth Management, LLC unless a client service agreement is in  place. Skrobonja Financial Group, LLC provides links for your convenience to websites produced by other providers of industry related material. Accessing websites through links directs you  away from our website. Users who gain access to third party websites may be subject to the copyright and other restrictions on use imposed by those providers and assume responsibility and risk from use of those websites. Any references to protection, safety or  lifetime income, generally refer to fixed insurance products, never securities or investments. Insurance guarantees are backed by the financial strength and claims paying abilities of the  issuing carrier. This is intended for informational purposes only. It is not intended to be used as the sole  basis f

    15 phút
  2. Year-End Tax Strategies

    20 THG 11

    Year-End Tax Strategies

    Brian Skrobonja shares practical tips on year-end tax planning so you can make informed decisions and take control of your financial future. He explains why now is the perfect time to assess your financial situation and the type of strategic moves you can make to reduce your tax liabilities, maximize savings, and enhance your overall financial health. Brian starts the conversation by revealing the key elements of a well-designed year-end tax planning strategy. Tax planning isn't an April 15th activity. The tax return itself is just a scorecard. For Brian, tax planning goes from January to December of the year you're in. Brian talks about the benefits of being intentional about allocating resources and ensuring you remain in a reasonable tax bracket throughout the year. According to Brian, it’s unfortunate that most tax preparers recommend buying vehicles or equipment to save on taxes. Brian explains how that line of thinking may be costing you money, not saving you money. Brian reveals why he doesn’t defer taxes into retirement accounts. He explains how tax deferral is not a tax saving. For a strategy to be a tax saving, it needs to actually save you taxes. And a tax deferral is not a savings; the word defer gives it away. Brian goes through examples of real tax saving strategies that can reduce your current tax bill, build wealth, and help ensure you don’t have future tax liabilities. Brian talks about the best way to be paid as a business owner. While ordinary income may seem attractive, this form of income is also the highest taxed income in our tax system. Brian explains why business owners should not take ordinary income and instead take profits as a dividend. This can often carry a more favorable tax rate and can lead to some significant tax savings over time. The other mistake Brian sees people make is receiving an income and then making charitable contributions from their personal account. Often, this can result in overpaying on your taxes because of the standard deduction. Brian goes through investment options that carry unique tax benefits and lead to significant reductions in taxable income. The default approach for many people is to receive a salary, defer money into their 401k, pay down debt, and approach retirement with hands off the wheel. Brian explains why sometimes this is leaving money off the table. If you make money, there will be taxes to manage. Any tax-saving strategy you choose to deploy should be done legally and ethically. The good news is that there is nowhere in the tax code that says you have to pay the maximum amount in taxes. Brian highlights the benefits of keeping yourself updated with tax laws. Tax laws are always evolving and being informed about these changes can lead to better decision making. How to help ensure you're taking full advantage of the potential opportunities and the numerous tax benefits available to you. As the year concludes, Brian recommends taking the time to engage in comprehensive tax planning. This can make a meaningful difference in short-term savings and your long-term financial health.     Mentioned in this episode: BrianSkrobonja.com SkrobonjaFinancial.com SkrobonjaWealth.com BUILDbanking.com Common Sense Financial Podcast on YouTube  Common Sense Financial Podcast on Spotify     Securities offered only by duly registered individuals through Madison Avenue Securities, LLC. (MAS), Member FINRA &SIPC. Advisory services offered only by duly registered individuals through Skrobonja Wealth Management (SWM), a registered investment advisor. Tax services offered only through Skrobonja Tax Consulting. MAS does not offer Build Banking or tax advice. Skrobonja Financial Group, LLC, Skrobonja Wealth Management, LLC, Skrobonja Insurance Services, LLC, Skrobonja Tax Consulting, and Build Banking are not affiliated with MAS. Skrobonja Wealth Management, LLC is a registered investment adviser. Advisory services are only offered to clients or prospecti

    22 phút
  3. 6 Tips For Choosing the “Right Fit” Financial Advisor - Replay

    13 THG 11

    6 Tips For Choosing the “Right Fit” Financial Advisor - Replay

    Are you part of that 68% of people who would like to have a personalized financial plan, but aren’t sure where to find a financial advisor? What should you pay attention to when trying to get a financial planning expert to help you, and you’re evaluating different options? In this new episode of the Common Sense Financial Podcast, host Brian Skrobonja shares six factors you should keep into consideration and look at when going through different financial advisor options. According to a May 2022 PR Newswire survey, 68% of people would like to have a personalized financial plan, but they’re not sure where to find a financial advisor. Brian sees information-gathering and understanding that planning isn’t the same as investing are the biggest mental hurdles of financial planning. When it comes to picking a financial advisor, there are six primary factors Brian suggests looking at. A 2022 study found that 80-90% of advisors fail in the first three years of practice – the main reason being the steep learning curve involved in serving clients. 10 years is the minimum that Brian would look for in terms of experience a financial advisor has. Brian discusses the different designations a financial advisor might have. Brian touches upon the importance of whether a financial advisor owns the company and the range of services they offer.     Mentioned in this episode: BrianSkrobonja.com Dan Sullivan Chat GPT FINRA  The Financial Fiduciary Standard Explained (2021 Kipliger article by Brian)   Reference for this episode: https://www.prnewswire.com/news-releases/nearly-3-in-5-americans-59-want-financial-advice-but-are-not-sure-where-to-get-it-according-to-intelliflo-survey-301494402.html     Securities offered only by duly registered individuals through Madison Avenue Securities, LLC. (MAS), Member FINRA &SIPC. Advisory services offered only by duly registered individuals through Skrobonja Wealth Management (SWM), a registered investment advisor. Tax services offered only through Skrobonja Tax Consulting. MAS does not offer Build Banking or tax advice. Skrobonja Financial Group, LLC, Skrobonja Wealth Management, LLC, Skrobonja Insurance Services, LLC, Skrobonja Tax Consulting, and Build Banking are not affiliated with MAS. Skrobonja Wealth Management, LLC is a registered investment adviser. Advisory services are only offered to clients or prospective clients where Skrobonja Wealth Management, LLC and its representatives are properly licensed or exempt from licensure.  The firm is a registered investment adviser with the state of Missouri, and may only transact business with residents of those states, or residents of other states where otherwise legally permitted subject to exemption or exclusion from registration requirements. Registration with the United States Securities and Exchange Commission or any state securities authority does not imply a certain level of skill or training. Past performance is no guarantee of future returns. Investing involves risk, including the potential loss of principal. It is not possible to invest in an index. Any references to protection, safety or lifetime income, generally refer to fixed insurance products, never securities or investments. Insurance guarantees are backed by the financial strength and claims paying abilities of the issuing carrier. This video is intended for informational purposes only. It is not intended to be used as the sole basis for financial decisions, nor should it be construed as advice designed to meet the particular needs of an individual's situation. Our firm is not permitted to offer and no statement made during this presentation shall constitute tax or legal advice. Our firm is not affiliated with or endorsed by the U.S. Government or any governmental agency. The information and opinions contained herein provided by third parties have been obtained from sources believed to be reliable, but accuracy and completeness cannot be guaranteed by ou

    16 phút
  4. Make Health Planning Part of Your Retirement Planning, with Regan Archibald - Replay

    6 THG 11

    Make Health Planning Part of Your Retirement Planning, with Regan Archibald - Replay

    You feel healthy so everything is okay, right? Have you ever thought that health planning should be part of your retirement planning efforts? If you’ve answered ‘yes,’ pay close attention to Regan Archibald! Regan joins host Brian Skrobonja to discuss how people should approach health planning, the world of preventive care, the role of nutrition, and why longevity medicine is something you should be mindful of. Regan Archibald kicks off the conversation by sharing his origin story. In his work with entrepreneurs, Regan has found that when people focus on creating more balance and focus on their health, their business improves – and so does everything else. One of the major health issues both Regan and Brian have noticed is that many people think that if they feel okay, everything is okay… Regan stresses the importance not only to focus on a certain problem (like high blood pressure) but on trying to understand its cause (so, asking “Why is my blood pressure high?”). Regan illustrates how longevity medicine and financial planning share some of the same characteristics. “Peptides have been one of the most exciting developments,” says Regan. He explains why that’s the case. Regan believes that people should approach their health insurance the same way they approach their car insurance. What’s a good amount to budget toward health planning? For Regan, the answer to that is $15k/year. For Regan, making your health the #1 priority so that you feel it internally, is an excellent way to get started with health planning. Brian and Regan talk about what working with Regan actually looks like, and discuss diets and how to approach nutrition.     Mentioned in this episode: BrianSkrobonja.com ThePeptideExpert.com Unreasonable Health Podcast The Peptide Blueprint: Achieving Optimal Health and Performance at Any Age Never Stop Healing: The Unknown Shortcuts With Peptides for an Extraordinary Life EastWest Health Dan Sullivan Peter Diamandis Bryan Johnson Charles Schwab Head Strong: The Bulletproof Plan to Activate Untapped Brain Energy to Work Smarter and Think Faster by Dave Asprey Chat GPT   Skrobonja Financial Group, LLC, Skrobonja Wealth Management, LLC, MAS and Regan Archibald are not affiliated entities. NO compensation has been exchanged between Brian Skrobonja and Regan Archibald.   Securities offered only by duly registered individuals through Madison Avenue Securities, LLC. (MAS), Member FINRA & SIPC. Advisory services offered only by duly registered  individuals through Skrobonja Wealth Management (SWM), a registered investment advisor. Tax services offered only through Skrobonja Tax Consulting. MAS does not offer Build Banking or tax advice. Skrobonja Financial Group, LLC, Skrobonja Wealth Management, LLC, Skrobonja Insurance Services, LLC, Skrobonja Tax Consulting, and Build Banking are not affiliated with MAS. The firm is a registered investment adviser with the state of Missouri, and may only transact business with residents of those states, or residents of other states where otherwise legally permitted subject to exemption or exclusion from registration requirements. Registration with the United States Securities and Exchange Commission or any state securities authority does not imply a certain level of skill or training. Advisory services are only offered to clients or prospective clients where Skrobonja Wealth Management, LLC and its representatives are properly licensed or exempt from licensure. This website is solely for informational purposes. Past performance is no guarantee of future returns. Investing involves risk and possible loss of principal capital. No advice may be  rendered by Skrobonja Wealth Management, LLC unless a client service agreement is in  place. Skrobonja Financial Group, LLC provides links for your convenience to websites produced by other providers of industry related material. Accessing websites through links directs you  away from our web

    54 phút
  5. An Innovative – and Life-Changing – Way to Look at Retirement, with Dean Jackson - Replay

    30 THG 10

    An Innovative – and Life-Changing – Way to Look at Retirement, with Dean Jackson - Replay

    What comes to mind when you think about retiring? Is it enjoying your "golden years?" That's an outdated approach, says today's guest Dean Jackson! He joins host Brian Skrobonja to discuss a new way to think about retirement – and how doing things this way will change your life – the concept of "pre-tiring," two types of economy, and what "money hobby" and self-managing companies are all about. The idea of the conversation with Dean came to Brian as the result of conversations he has been having with clients, plus the increased longevity and the outdated models that are still presented as the tools to approach retirement planning. From an early age, Dean realized the difference between what Dan Sullivan calls the time & effort economy, and the results economy. In the first type of economy. you get paid a fixed amount for your time and effort, whereas in the latter. you’re paid by the results you create. Dean has been “pre-tiring” since 1999, splitting his time between Canada and Florida. For Dean, trying to define what success means to you and what your ideal lifestyle looks like are key aspects to reflect on. Society has been structured in a way where people worked with an eye on retirement, where they would spend their golden years. Now, things have changed. As Dean points out, there are billions of definitions of what "a perfect life" looks like, and "everyone’s in possession of what could be a perfect life in their definition." The key is filling the blank, using your own situation and words, in regards to the sentence "I know I’ll be successful when ____." Rehearsing for retirement is one of the things Brian has been helping clients with. Retirement is a transition, so being prepared for it is crucial. Dean believes that one of the important steps to take to prepare for the transition into retirement is what he calls "money hobby." Find something you’re truly passionate about and look at whether you can turn it into some kind of business, like the Ryan’s Toys YouTube channel, for example. Brian thinks that retirement isn’t an age but a mindset. You can retire at 65 or at 35 if you have the right mindset and path to run down to create passive income. Citing Dan Sullivan’s ideas and work, Dean and Brian touch upon the whole idea of life extender and making your future bigger than your past. For Dean, it isn’t about how to do something but who can get something done for your company. You should decide whether you want to find a who that can help you with a specific thing – you can then turn into a business – or become that who yourself, for someone else’s business, and do the what you really love. Dean talks about the so-called eight profit activators, a blueprint that’s universally applicable to all businesses. It’s about looking for opportunities to activate profits in any of the eight areas.     Mentioned in this episode: BrianSkrobonja.com Previous episode - Retirement is Not an Age DeanJackson.com Dan Sullivan - StrategicCoach.com/our-team/#/people/dan-sullivan Tony Robbins’ New Money Master program Thomas Leonard Shopify.com Ryan’s World on YouTube Chat GPT   Brian, Dean Jackson and MAS are not affiliated entities.   Securities offered only by duly registered individuals through Madison Avenue Securities, LLC. (MAS), Member FINRA & SIPC. Advisory services offered only by duly registered individuals through Skrobonja Wealth Management (SWM), a registered investment advisor. Tax services offered only through Skrobonja Tax Consulting. MAS does not offer Build Banking or tax advice. Skrobonja Financial Group, LLC, Skrobonja Wealth Management, LLC, Skrobonja Insurance Services, LLC, Skrobonja Tax Consulting, and Build Banking are not affiliated with MAS. The firm is a registered investment adviser with the state of Missouri, and may only transact business with residents of those states, or residents of other states where otherwise legally permitted subject t

    58 phút
  6. The Potential Ripple Effects of Taxing Unrealized Capital Gains

    23 THG 10

    The Potential Ripple Effects of Taxing Unrealized Capital Gains

    In this episode, Brian Skrobonja breaks down Kamala Harris' proposed tax plan and how it aims to tax unrealized capital gains for the ultra-rich. He sheds light on how the tax plans will affect all Americans regardless of their income level, what to do if Kamala Harris is elected president, and how taxing unrealized gains could contribute to constant market volatility. Brian starts the conversation by breaking down the key elements in Kamala Harris' plan to tax unrealized capital gains for ultra-high-net-worth individuals. While proponents argue this would ensure the wealthiest Americans pay their fair share, Brian believes the potential implications warrant careful consideration. Brian breaks down the key aspects of Kamala’s proposal and how it could impact investors, businesses, and the overall financial landscape. According to a 2020 study, 93% of stock market wealth is held by the top 10% of households. If these individuals face a huge tax bill, they will likely find ways to move out of the market and into more tax-friendly investments. Brian explains why money flowing out of the stock market is bad news for all types of investors. Brian reveals how taxing unrealized capital gains for the ultra-rich not only affects the super rich, but would impact every household in America. By taxing unrealized capital gains annually, the proposal aims to generate additional federal revenue for social programs and debt deficit reductions. For Brian, one of the most immediate concerns surrounding this proposal is its potential to significantly increase market volatility. The stock market is highly sensitive to changes in tax policy. Introducing a new tax on unrealized gains could create a new layer of uncertainty for investors. Another significant concern is how this tax could impact long-term investment strategies. According to Brian, the prospect of being taxed on paper gains before those gains are realized could discourage investors from holding on to appreciated assets for extended periods of time. Brian talks about the potential for capital flight and how wealthy individuals may choose to move their assets to more tax-friendly jurisdictions. The other issue with Harris' plan is learning the values of every asset. Brian explains how determining the fair market value of a non-publicly traded asset is a complex and potentially contentious process that could lead to frequent disputes between taxpayers and the IRS. Brian explains how taxing unrealized capital gains could potentially stifle entrepreneurship, innovation, and funding for small businesses. Another potential consequence of this proposal is the risk of a significant market correction. As investors reevaluate their portfolios in light of the new tax regime, there's a case to be made about a broad sell-off, particularly in sectors with a high concentration of unrealized gains. While the full impact of taxing unrealized gains remains to be seen, it's clear that such a policy shift could have far-reaching implications for investors, businesses, and the economy as a whole, not just for the ultra-wealthy. If Harris wins the White House, we could see investors taking their capital gains before the year ends instead of waiting to see what happens next. By working with an experienced team of professionals, you can stay informed and by focusing on your long-term financial goals, you can prepare for whatever changes come your way.     Mentioned in this episode: BrianSkrobonja.com SkrobonjaFinancial.com SkrobonjaWealth.com BUILDbanking.com Common Sense Financial Podcast on YouTube  Common Sense Financial Podcast on Spotify   References for this episode: https://www.asianinvestor.net/article/market-views-top-3-assets-likely-to-gain-if-harris-wins/498292 https://www.nbcnews.com/business/taxes/harris-plans-tax-unrealized-stock-gains-only-people-100-million-rcna168819 https://www.cnn.com/2024/08/21/investing/kamala-harris-wall-street-relationship/index.html https://w

    19 phút
  7. Identity Theft: How to Protect Yourself and Take Action if You’re Targeted

    16 THG 10

    Identity Theft: How to Protect Yourself and Take Action if You’re Targeted

    In this episode, Brian Skrobonja shares tips and insights on how to help protect yourself against identity theft. He sheds light on the best identity theft tools in the market, what to consider when someone steals your identity, and ways to minimize the risk of your data ending up in the dark web. Brian starts the conversation by sharing what he learned as a victim of identity theft and how you can be more prepared if you find yourself in a similar situation. The reality is that identity theft continues to be a growing problem and millions of people each year find themselves having to deal with these thieves. So this shouldn't be viewed as something that happens to other people. It happens to a lot of people and can happen to you too. An important step to help protect yourself against identity theft is to assume it will happen to you at some point and try to be prepared to defend yourself when it does happen. Brian explains that we are on our own when it comes to protecting our identity--the police and credit companies are usually of little help. According to Brian, one super helpful thing you can do right now is visit credit reporting websites such as Experience or TransUnion. These companies can perform searches that go deep into the web and find where your information is posted. Your identity is you, and your credit is one of the most valuable assets you have--it's worth taking steps to protect yourself. Brian reveals why passwords are by far the most important element for identity protection. Passwords are like keys. They are to help keep something of value behind a door. They don't prevent a criminal from getting access, but it makes it more difficult. Using strong, complex passwords is one of the simplest ways to protect your accounts. Ideally, every account you have should have a unique password that you can change periodically. Brian talks about the two factor authentication. Yes, it can be a little irritating at times, but it’s an excellent tool that adds another layer of security that goes just beyond your password. Always shred documents with sensitive information to prevent dumpster diving thieves from getting a hold of crucial details. Brian explains what phishing scams are and how they work. These scams often involve fake emails or messages that appear to be from legitimate companies asking you to click on a link or provide sensitive information. For Brian, even with the best precautions, identity theft can still happen. But being aware of these things can help you not be a victim as easily. Once you've identified fraudulent activity, report it immediately. Begin by contacting your bank or credit card issuer to let them know about the suspicion's transactions. Brian shares when and how to freeze your credit account. Identity theft can be a frustrating experience. And although there's no proven way to prevent it entirely, you don't have to make it easy. It is a risk we all face, but let's not be the low-hanging fruit the thieves are all looking for.     Mentioned in this episode: BrianSkrobonja.com SkrobonjaFinancial.com SkrobonjaWealth.com BUILDbanking.com Common Sense Financial Podcast on YouTube  Common Sense Financial Podcast on Spotify     This information is being provided as a courtesy and is based solely on the hosts personal experience and is not to be considered professional recommendations or an exhaustive list of steps to prevent identity theft. Nothing can entirely prevent your identity from being stolen or used. Securities offered only by duly registered individuals through Madison Avenue Securities, LLC. (MAS), Member FINRA & SIPC. Advisory services offered only by duly registered individuals through Skrobonja Wealth Management (SWM), a registered investment advisor. Tax services offered only through Skrobonja Tax Consulting. MAS does not offer Build Banking or tax advice. Skrobonja Financial Group, LLC, Skrobonja Wealth Management, LLC, Skrobonja Insurance Services, LLC, S

    20 phút
  8. The 4 Biggest Obstacles to Effective Estate Planning - Replay

    9 THG 10

    The 4 Biggest Obstacles to Effective Estate Planning - Replay

    Life when you’re gone… an uncomfortable conversation most people prefer to avoid. Why isn’t that a good idea? How can estate planning help you ensure that things are taken care of once you aren’t around anymore? Listen to learn about big mistakes people make, the different elements that make up the estate plan puzzle, the three primary areas of cash flow, and the type of plan you should have in place. When it comes to end of life financial planning, many people tend to put it off because it’s an uncomfortable conversation to have. Even though the process for end of life planning is relatively simple in nature, Brian recommends getting professional help to deal with the details, which can be complex. Despite every situation being different, there are several core aspects of estate planning that everyone should consider. The first has to do with title and legal work. Brian has noticed that many people have a complete misunderstanding of the role legal work plays within their planning. Then, there’s life insurance. Many households rely on two incomes – or people – contributing to the family’s ecosystem. Their contribution to the family must be replaced when they’re gone, and that’s where life insurance comes into play. Another important, but often overlooked, aspect to an estate plan is budgets and cash flow. Brian doesn’t recommend planning in terms of weeks or months for it… rather, to plan in terms of years. “Your cash flow can be broken down into three primary areas,” says Brian. “Reoccurring obligations, irregular obligations, and savings.” Debts and investments are an additional area that makes up the estate plan puzzle. Brian stresses the importance of cash flow and shares a couple of examples that illustrate its key role. End of life planning is a difficult topic to address. Brian’s suggestion is to take steps to protect your loved ones by creating a custom comprehensive plan with the help of professionals. After that, the next step is to communicate the plan with your partner and family members – then, enjoy the peace of mind that comes along with knowing you have done everything in your power to provide for your loved ones.     Mentioned in this episode: BrianSkrobonja.com Estate Planning Checklist     Securities offered only by duly registered individuals through Madison Avenue Securities, LLC. (MAS), Member FINRA & SIPC. Advisory services offered only by duly registered  individuals through Skrobonja Wealth Management (SWM), a registered investment advisor. Tax services offered only through Skrobonja Tax Consulting. MAS does not offer Build Banking or tax advice. Skrobonja Financial Group, LLC, Skrobonja Wealth Management, LLC, Skrobonja Insurance Services, LLC, Skrobonja Tax Consulting, and Build Banking are not affiliated with MAS.   The firm is a registered investment adviser with the state of Missouri, and may only transact business with residents of those states, or residents of other states where otherwise legally permitted subject to exemption or exclusion from registration requirements. Registration with the United States Securities and Exchange Commission or any state securities authority does not imply a certain level of skill or training. Advisory services are only offered to clients or prospective clients where Skrobonja Wealth Management, LLC and its representatives are properly licensed or exempt from licensure.   This website is solely for informational purposes. Past performance is no guarantee of future returns. Investing involves risk and possible loss of principal capital. No advice may be  rendered by Skrobonja Wealth Management, LLC unless a client service agreement is in  place.   Skrobonja Financial Group, LLC provides links for your convenience to websites produced by other providers of industry related material. Accessing websites through links directs you  away from our website. Users who gain access to third party websi

    14 phút
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Giới Thiệu

The Common Sense Financial Podcast is all about finances, mindset and personal growth. The goal is to help you make smart choices with your money in your home and in your business. Some of the podcasts here are historical in nature. They aired before July 1, 2022 and were previously approved by Kalos Capital. The views and statistics discussed in these shows are relevant to that time period and may not be relevant to current events. This is intended for informational and entertainment purposes only. It is not intended to be used as the sole basis for financial decisions, nor should it be construed as advice designed to meet the particular needs of an individual’s situation. Investing involves risk, including the potential loss of principal. Any references to protection, safety or lifetime income, generally refer to fixed insurance products, never securities or investments. Insurance guarantees are backed by the financial strength and claims paying abilities of the issuing carrier. Our firm is not permitted to offer and no statement made during this show shall constitute tax or legal advice. Our firm is not affiliated with or endorsed by the US Government or any governmental agency. The information and opinions contained herein provided by the third parties have been obtained from sources believed to be reliable, but accuracy and completeness cannot be guaranteed by our firm. Securities offered only by duly registered individuals through Madison Avenue Securities, LLC. (MAS), Member FINRA & SIPC. Advisory services offered only by duly registered individuals through Skrobonja Wealth Management (SWM), a registered investment advisor. Tax services offered only through Skrobonja Tax Consulting. MAS does not offer Build Banking or tax advice. Skrobonja Financial Group, LLC, Skrobonja Wealth Management, LLC, Skrobonja Insurance Services, LLC, Skrobonja Tax Consulting, and Build Banking are not affiliated with MAS. Skrobonja Wealth Management, LLC is a registered investment adviser. Advisory services are only offered to clients or prospective clients where Skrobonja Wealth Management, LLC and its representatives are properly licensed or exempt from licensure.

Thông Tin

  • Nhà sáng tạo
    Brian Skrobonja
  • Năm hoạt động
    2017 - 2024
  • Tập
    141
  • Xếp hạng
    Sạch
  • Bản quyền
    © All rights reserved
  • Trang web chương trình
    Common Sense Financial Podcast

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