8 episodes

Welcome to Modern Wealth Management by Monon Wealth, where we tackle pertinent financial topics to help better position you and your business for success.

Listen as Darrick Hutchens and Ray Kramer, Managing Partners of Monon Wealth Management, tap into four decades worth of experience in the financial sector and unpack their strategies for today's level of modern wealth management.

So, sit back, relax, and enjoy enlightening conversations that highlight an array of financial questions and topics.

Modern Wealth Management Darrick Hutchens and Ray Kramer

    • Business

Welcome to Modern Wealth Management by Monon Wealth, where we tackle pertinent financial topics to help better position you and your business for success.

Listen as Darrick Hutchens and Ray Kramer, Managing Partners of Monon Wealth Management, tap into four decades worth of experience in the financial sector and unpack their strategies for today's level of modern wealth management.

So, sit back, relax, and enjoy enlightening conversations that highlight an array of financial questions and topics.

    Modern Wealth Management - Episode 8 (Overview on Upcoming Tax Proposals with Lisa Curry)

    Modern Wealth Management - Episode 8 (Overview on Upcoming Tax Proposals with Lisa Curry)

    A new year brings a new batch of tax proposals that could leave you scratching your head.
    In the latest installment of Modern Wealth Management, we bring you a special edition of the show that features a unique guest from the tax planning realm. Darrick is joined by Lisa Curry, Partner at Katz, Sapper and Miller, to address a wide variety of year end tax strategies you can incorporate into your own portfolio.
    Additionally, Lisa showcases the current tax proposals in existence and how you should be preparing in case some are passed.
    There's plenty of beneficial information packed into this episode that you don't want to miss!
    Timecodes:
    0:06 - Overview on this special edition of the show
    0:59 - Setting the scene on the overall importance behind tax planning within your wealth plan
    3:00 - Introducing Lisa Curry of Katz, Sapper and Miller
    5:00 - Using a business to take care of the family means
    8:15 - "I've heard about this. What does that mean for me?"
    12:15 - Increasing tax rates on corporations will still likely impact you
    16:05 - The top individual income tax rate and the proposed changes
    22:35 - Capital gains and what to expect on this front
    29:40 - What is going to change?
    34:18 - The backdoor (or mega) ROTH and where it enters the picture
    38:54 - Selling your business and how that can impact your taxable income
    42:06 - What can wealthy business owners do right now to optimize their plan
    47:15 - The value associated with a stress test
    50:45 - Closing remarks


    Connect with Darrick and Ray:
    https://mononwealth.com/ (Website)
    https://www.facebook.com/mononwealth (Facebook)
    https://www.linkedin.com/company/monon-wealth-management/about/ (LinkedIn)

    • 51 min
    Modern Wealth Management - Episode 7 (Big Wealth Mistakes the Super Rich Don't Make)

    Modern Wealth Management - Episode 7 (Big Wealth Mistakes the Super Rich Don't Make)

    The bad financial decisions you avoid can be just as important as the good financial moves you make. And while no one is perfect, highly successful people and families tend to avoid major slip ups.
    In the latest installment of Modern Wealth Management, Darrick and Ryan explore some wealth-destroying mistakes that high successful people do a good job of sidestepping.
    This episode is packed with great tips and is sure to leave you taking a page from the playbook of the super rich!
    Timecodes:
    0:03 - Overview on the topic of the episode
    1:52 - Does the average individual take measures to avoid costly mistakes?
    3:15 - There are opportunities to learn lessons from the wealth planning strategies of the super rich
    5:02 - The grass isn't always greener on the other side
    8:12 - Clearly define your goals and stay on the proper track to achieve them
    11:34 - Hire the best professionals to support your goals
    16:00 - The characteristics of consummate professionals and those that will propel you forward
    19:14 - Utilizing second opinions and stress tests to ensure you're plan is on track
    23:00 - The difference between a second opinion and a stress test
    25:02 - How someone can get in touch with Darrick's team to discuss this topic further
    27:04 - Why we study the super rich
    28:10 - Closing remarks


    Connect with Darrick and Ray:
    https://mononwealth.com/ (Website)
    https://www.facebook.com/mononwealth (Facebook)
    https://www.linkedin.com/company/monon-wealth-management/about/ (LinkedIn)

    • 29 min
    Modern Wealth Management - Episode 6 (Have a Trust? You Might Need a Trust Protector!)

    Modern Wealth Management - Episode 6 (Have a Trust? You Might Need a Trust Protector!)

    In the latest installment of Modern Wealth Management, Darrick explores the complex nature of trusts and why it's beneficial to have a trust protector in place.
    When you have a trust, it's overseen by a trustee. But, who is keeping an eye on the trustee to ensure he or she is not exploiting you? If the answer is "no one" or "I don't know," it may be time to consider adding a trust protector to your team of advisors.
    Listen as Darrick shares his first-hand experience with trusts and why trust protectors can be an extremely beneficial addition to your fiduciary team of experts.
    Timecodes:
    0:04 - Overview on the topic of the day
    2:08 - The various parties involved in a trust
    8:27 - Grantors typically don't realize they need to be on guard during this process
    10:30 - How a trust protector can help with the fees typically associated with the trustee
    13:08 - The overall role of the trust protector
    17:06 - What happens when a trust protector recognizes that the trustee isn't operating effectively
    19:38 - How someone would go about hiring a trust protector
    20:46 - Summarizing the need for a trust protector
    23:50 - Closing remarks


    Connect with Darrick and Ray:
    https://mononwealth.com/ (Website)
    https://www.facebook.com/mononwealth (Facebook)
    https://www.linkedin.com/company/monon-wealth-management/about/ (LinkedIn)

    • 24 min
    Modern Wealth Management - Episode 5 (Do You Have What it Takes to Create Significant Wealth?)

    Modern Wealth Management - Episode 5 (Do You Have What it Takes to Create Significant Wealth?)

    Research shows that entrepreneurship can be one of the most effective ways to become wealthy. But, it takes a lot more than simply being a business owner to generate significant wealth.
    In the latest installment of Modern Wealth Management, Darrick and Ray highlight the four key drivers of business and financial success, as well as personal commitments required to become wealthy.
    Not only do Darrick and Ray work with an array of entrepreneurs in their wealth management business, but they themselves are entrepreneurs who built their company together.
    So sit back, relax, and enjoy another enlightening conversation that is bound to leave you with some things to consider for your own wealth creation process.
    Timecodes:
    0:04 - Overview on the topic of the day
    1:45 - Entrepreneurship is the main generator for significant wealth today
    3:25 - The best practices of wealth entrepreneurs
    5:35 - You need to have a commitment to achieve success overall
    8:02 - It takes more than simply a commitment to achieve success
    9:37 - How the overall quality of your business model will drive wealth creation
    13:01 - Establishing industry connections and powerful relationships plays a major role as well
    15:06 - The process of building a "dream team" of employees and maintain a high-quality team
    18:28 - The willingness to engage with the right professionals
    24:24 - Working with a wealth manager, who is familiar with entrepreneurship, is also a best practice
    27:26 - Closing remarks


    Connect with Darrick and Ray:
    https://mononwealth.com/ (Website)
    https://www.facebook.com/mononwealth (Facebook)
    https://www.linkedin.com/company/monon-wealth-management/about/ (LinkedIn)

    • 28 min
    Modern Wealth Management - Episode 4 (What Makes an Elite Wealth Manager Elite, Exactly?)

    Modern Wealth Management - Episode 4 (What Makes an Elite Wealth Manager Elite, Exactly?)

    Affluent individuals, families, and business owners want to make the best decisions regarding their wealth and the first decision usually deals with selecting a particular wealth manager. They want to make sure they are working with the best of the best, but how can you tell if a wealth manager truly is elite?
    In the latest installment of Modern Wealth Management, Darrick and Ray explore an array of skills and characteristics of an elite wealth manager. Not only do they possess the highest level of financial acumen, but they understand the importance behind connecting with their clients on a human level.
    So sit back, relax, and enjoy another enlightening conversation that will leave you wondering if your current wealth manager is at the elite level!
    Timecodes:
    0:05 - Episode overview and the topic of the day
    1:50 - How are people supposed to know if a wealth manager truly lives up to their world-class reputation
    4:30 - How an elite wealth manager handles investment management
    10:00 - Where the wealth planning component comes into play as well
    12:10 - What Darrick and Ray mean when it comes to "advanced planning"
    17:46 - What should people be looking for in a wealth manager that claims to be elite
    20:12 - Not all wealth managers incorporate the human element
    22:50 - An example of Darrick and Ray forging a successful relationship with a given client
    26:41 - The bottom-line on how Darrick and Ray approach their clients at Monon Wealth Management
    30:10 - Closing remarks


    Connect with Darrick and Ray:
    https://mononwealth.com/ (Website)
    https://www.facebook.com/mononwealth (Facebook)
    https://www.linkedin.com/company/monon-wealth-management/about/ (LinkedIn)

    • 31 min
    Modern Wealth Management - Episode 3 (Three Reasons Life Insurance Should Be Part of Your Wealth Plan)

    Modern Wealth Management - Episode 3 (Three Reasons Life Insurance Should Be Part of Your Wealth Plan)

    Life insurance isn't the most exciting financial topic, when compared to investment planning overall. However, it's actually one of the most flexible and versatile tools that you have within your wealth planning toolkit!
    In the third installment of Modern Wealth Management, Darrick and Ryan explore the reasoning behind why you should incorporate life insurance into your overall wealth management strategy. When executed properly, life insurance can provide liquidity, leverage, and certainty to your financial well-being.
    So sit back, relax, and enjoy another enlightening conversation where Darrick shares his insights, and even his own personal reasoning behind including life insurance into his wealth plan.
    Timecodes:
    00:05 - Overview on today's episode
    02:05 - Why Darrick believes life insurance should play a role in someone's wealth plan
    03:22 - Wealth planning overall is vitally important
    04:30 - In wealth planning, the focus should be on the person and not the product
    08:51 - The key roles life insurance plays within wealth planning overall
    12:48 - The goals life insurance can help an individual or family achieve
    17:54 - How life insurance can be used to help provide cash for a future need
    19:42 - Life insurance policies that are influential and beneficial for business owners
    21:30 - Life insurance shouldn't be viewed with a negative outlook
    23:49 - Closing remarks
    Connect with Darrick and Ray:
    https://mononwealth.com/ (Website)
    https://www.facebook.com/mononwealth (Facebook)
    https://www.linkedin.com/company/monon-wealth-management/about/ (LinkedIn)

    • 24 min

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