58 episodes

Financial and retirement guidance from CERTIFIED FINANCIAL PLANNER™ professional Wade Chessman of Chessman Wealth Strategies in the Dallas, Texas area. Investment advisory services offered through CWM, LLC, an SEC Registered Investment Advisor. Carson Partners, a division of CWM, LLC, is a nationwide partnership of advisors. 7557 Rambler Road, Suite 1010, Dallas, TX 75231. 214-572-2120.

The Money Knight Wade Chessman

    • Business
    • 5.0 • 2 Ratings

Financial and retirement guidance from CERTIFIED FINANCIAL PLANNER™ professional Wade Chessman of Chessman Wealth Strategies in the Dallas, Texas area. Investment advisory services offered through CWM, LLC, an SEC Registered Investment Advisor. Carson Partners, a division of CWM, LLC, is a nationwide partnership of advisors. 7557 Rambler Road, Suite 1010, Dallas, TX 75231. 214-572-2120.

    Ep 57: What Is a Fiduciary?

    Ep 57: What Is a Fiduciary?

    You’ve probably heard the word fiduciary but what does it actually mean and what’s the importance of this title? A fiduciary has to put the needs of their clients before their own. They must operate with full transparency.


    Not all financial professionals are held to this standard, so it’s important to know whether your advisor is a fiduciary. On today’s episode, we’ll explore why it’s an important standard for you to consider when choosing a financial advisor. Wade will also answer two mailbag questions about part-time work in retirement and mortgage payments.


     


    What we discuss on this episode: 


    1:39 – Does Wade have any resolutions for 2022?


    3:16 – What is the definition of a fiduciary?


    6:19 – A fiduciary can help you customize retirement


    9:17 – Is it OK to work with an advisor that is not a fiduciary?


    10:59 – Mailbag: “Should I work full-time for 2 more years or part-time for 4?”


    12:28 – Mailbag: “Should we pay our mortgage twice a month or once a month?”


     


    More Resources: 


    Risk Survey: https://www.chessmanwealth.com/#survey-section


    Retirement Planning Quiz: https://www.chessmanwealth.com/retirement-planning-quiz/ 


     


    Important Links:


    Chessman Wealth Website: https://www.chessmanwealth.com


    Call: 214-572-2120

    • 15 min
    Ep 56: How Are Social Security Benefits Calculated

    Ep 56: How Are Social Security Benefits Calculated

    Social security is one of the main pillars of retirement planning. However, many people do not realize how their benefit gets calculated. You need to have a plan when it comes to Social Security. Especially for a couple, maximizing your benefits is important.


    This can be a complicated topic, but we’ll discuss how they break up the percentages of your income and how inflation impacts these numbers on today’s show. Wade will also discuss the primary insurance amount and how you can track your benefit online. If you are looking to learn more always feel free to reach out to Wade!


     


    What we discuss on this episode: 


    0:29 – How’s Wade doing?


    1:52 – How is your benefit calculated?


    5:13 – Percentage of your income


    6:49 – Primary insurance amount


    10:33 – Should you track your benefit online?


     


    More Resources: 


    Risk Survey: https://www.chessmanwealth.com/#survey-section


    Retirement Planning Quiz: https://www.chessmanwealth.com/retirement-planning-quiz/ 


     


    Important Links:


    Chessman Wealth Website: https://www.chessmanwealth.com


    Call: 214-572-2120

    • 14 min
    Ep 55: Advisors that Drop the Ball

    Ep 55: Advisors that Drop the Ball

    We see a lot of people who aren’t getting the kind of advice and service from their financial advisor that they should be. So today, we will be discussing some general scenarios where your advisor may be dropping the ball. If your advisor is hyper-focusing on investments and not the details of your overall plan it may be time to rethink your relationship with them.


    They should be reviewing your taxes and how it plays into your overall retirement plan. An advisor should be transparent about the fees and costs of their services and the investments they want you to invest in. Watch out for advisors not doing comprehensive retirement income planning or are ignoring legacy plans. Overall, you want to make sure your advisor is not glossing over important details. They need to understand your financial goals and take those into account when getting things done. 


     


    What we discuss on this episode: 


    1:34 – Tax planning


    3:12 – Fees and costs


    4:43 – Retirement Income


    6:51 – Clarifying your money’s job


    8:19 – Reviewing your legacy plans


     


    More Resources: 


    Risk Survey: https://www.chessmanwealth.com/#survey-section


    Retirement Planning Quiz: https://www.chessmanwealth.com/retirement-planning-quiz/ 


     


    Important Links:


    Chessman Wealth Website: https://www.chessmanwealth.com


    Call: 214-572-2120

    • 12 min
    Ep 54: Tax Planning Strategies

    Ep 54: Tax Planning Strategies

    Taxes may not be the most exciting conversation, but they are important! Today, we are talking about tax planning and why it’s important to retirement planning. Tax planning is part of our process and it’s not just something we do once a year. These strategies are important in keeping your overall plan efficient.


    We look at both the short-term and long-term strategies. As we reach the end of the year, we really want to think about tax planning. There are a lot of opportunities to maximize your tax efficiency whether you use conversions or charitable giving. We will be discussing tax strategy, deductions, end-of-year tax planning, and more. Wade will also answer two mailbag questions about taxes on retirement accounts and catch-up contributions.


     


    What we discuss on this episode: 


    1:17 – Thanksgiving plans


    3:15 – Tax planning year-round


    6:09 – Deductions you can take today


    6:48 – Things that will help you in the future


    7:46 – End of year tax planning


    9:00 – Opportunities towards the end of the year


    10:28 – How do taxes impact retirement?


    11:55 – Taxes in the future


    13:06 – Mailbag: Can I get out of paying taxes on my 401(k) and IRA?


    15:27 – Mailbag: Can I catch up on my 401(k) and IRA?


     


    More Resources: 


    Risk Survey: https://www.chessmanwealth.com/#survey-section


    Retirement Planning Quiz: https://www.chessmanwealth.com/retirement-planning-quiz/ 


     


    Important Links:


    Chessman Wealth Website: https://www.chessmanwealth.com


    Call: 214-572-2120

    • 18 min
    Ep 53: Why Core Values Matter with Jim Fite

    Ep 53: Why Core Values Matter with Jim Fite

    As our businesses grow it's important to stay true to our core values. On today’s episode, we are joined with Jim Fite to discuss his business Judge Fite Company and its growth through the Dallas, Texas area. Becoming an agent at 18 made him the youngest real estate agent in Texas history. Although college wasn’t for him, his father instilled the importance of continued education in him. This is something he continues to share with his team today.


    He soon bought his parent's business with his sister. Together they have grown a successful real estate business with intentionality and strategy. Staying true to their core values has always been the cornerstone of their business. We will discuss his worst and best moments in business, the advice he’d give others, the current housing market, and more.


     


    What we discuss on this episode: 


    0:38 – Introducing Jim Fite


    1:31 – Youngest Real Estate Professional in Texas


    4:56 – What drew him to Real Estate?


    7:35 – Becoming an agent at 18


    10:01 – A generational business


    12:51 – Real estate professionals


    15:33 – Strategic planning


    17:58 – Worst and best moments


    21:10 – Advice for others


    23:03 – Current housing market


    26:29 – Judge Fite Charitable Foundation


    29:43 – Finding Jim Fite online


     


    Learn more about Jim and Judge Fite Company: https://century21judgefite.com/


     


    More Resources: 


    Risk Survey: https://www.chessmanwealth.com/#survey-section


    Retirement Planning Quiz: https://www.chessmanwealth.com/retirement-planning-quiz/ 


     


    Important Links:


    Chessman Wealth Website: https://www.chessmanwealth.com


    Call: 214-572-2120

    • 31 min
    Ep 52: Who Will Inherit The Mess?

    Ep 52: Who Will Inherit The Mess?

    Estate planning is overwhelming, but it is a necessary part of our overall financial plan. Having a plan makes it a lot easier on our families when we pass away or become incapacitated. Continued communication is ideal, everyone involved in the plan needs to be on the same page. On today's episode, we are talking about Wade's recent seminar "Who Will Inherit the Mess?" and the key takeaways from his lecture about estate planning.


     


    What we discuss on this episode: 


    0:30 – Wade’s seminar on estate planning


    1:52 – What exactly is estate planning?


    3:51 – People’s desires and values


    5:35 – Communicating with others


    7:51 – Smart generations meeting  


     


    More Resources: 


    Risk Survey: https://www.chessmanwealth.com/#survey-section


    Retirement Planning Quiz: https://www.chessmanwealth.com/retirement-planning-quiz/ 


     


    Important Links:


    Chessman Wealth Website: https://www.chessmanwealth.com


    Call: 214-572-2120

    • 10 min

Customer Reviews

5.0 out of 5
2 Ratings

2 Ratings

Clarisse Gomez ,

Awesome Podcast!!!!

Wade, host of The Money Knight podcast, highlight all aspects of money, finance and more in this can’t miss podcast! The host and expert guests offer insightful advice and information that is helpful to anyone that listens!

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