Financial Fortitude: Tax, Wealth & Investment Strategies for High Income Earners

Only Using a 529 Plan? There’s a Better Way to Save for Your Kids’ Education - E44

Thu, 23 Apr 2026 00:00:00 -0400

Michael and Brady break down the real strategy behind building wealth for your children, one that goes far beyond the typical “set it and forget it” approach. From 529 plans to Roth IRAs, custodial accounts, and emerging options like Trump accounts, they unpack how each tool actually works in the real world. More importantly, they reveal how to combine them intelligently to maximize flexibility, tax efficiency, and long-term control. Whether you're a high-income earner, business owner, or simply a parent who wants to make smarter financial decisions, this conversation will challenge your assumptions and give you a clearer blueprint for generational wealth. If you’ve ever wondered how to save the right way for your kids, not just the popular way, this episode is a must-listen.

Key Timestamps:

(00:00) – Building Wealth Strategy Foundations

(01:12) – Beyond Basic 529 Thinking

(02:45) – Understanding Account Ownership Rules

(04:10) – Why Labels Mislead Investors

(05:32) – Tax Efficiency Planning Breakdown

(06:50) – 529 Plan Core Benefits

(08:05) – Roth IRA For Kids

(10:18) – Custodial Accounts Explained Clearly

(11:40) – Risks Of Early Control

(12:55) – New Trump Account Insights

(14:20) – Flexibility Versus Tax Tradeoffs

(16:05) – Designing Smarter Education Plans

(18:10) – Avoiding Overfunding Mistakes

(20:00) – Combining Accounts Strategically

Key Takeaways:

• Why relying solely on a 529 plan can create hidden risks if your child doesn’t follow a traditional college path.

• How Roth IRAs for kids can become a stealth wealth-building tool with long-term tax-free growth.

• What UTMA and UGMA accounts actually offer—and why flexibility comes with a control tradeoff.

• The real impact of account ownership on FAFSA and how it can affect financial aid eligibility.

• Why high-income families and business owners need a multi-account strategy, not a one-size-fits-all solution.

• How overfunding education accounts can quietly cost you in penalties and lost opportunities.

• The key differences between flexibility, tax efficiency, and control—and how to balance all three.

• And the simple framework for combining these accounts into a strategy that adapts as your child grows.

Key Topics Discussed:

Financial Fortitude, Genesis Wealth Planning, Brady Hemmerle, Michael Acosta, Financial Wellness, Wealth Building, Financial Psychology, Financial Advisor, Finance Coach, Student Loan Debt, Finance Guidance for High Earners, Business Owner Finances, Hiring a Financial Advisor, Student Loan Forgiveness, Tax Strategies, Retirement Planning, Investing Strategies, Financial Guidance for High Earners, Smart Money Moves for High-Income Professionals, Tax, Wealth & Investment Strategies for Top Earners, Financial Planning for Doctors, Lawyers & Execs, Wealth Management Tips for High-Income Earners, Expert Advice on Taxes, Investing & Growing Wealth, High Earner Money Talk, Financial Wisdom for 6-Figure+ Entrepreneurs, Smart Strategies for Managing High Income, Taxes & Freedom for High-Earning Professionals, The Dave Ramsey Show, BiggerPockets Podcast, The Motley Fool Money Show, We Study Billionaires, ChooseFI, Afford Anything, 529 Plan Strategy, Roth IRA For Kids, Custodial Account Investing, Tax Efficient College Planning, Trump Account

Mentions:

Website: https://www.genesiswealthplanning.com/

Michael’s LinkedIn: https://www.linkedin.com/in/michaelracosta/

Brady’s LinkedIn: https://www.linkedin.com/in/brady-hemmerle-cfp%C2%AE-75043013a/

Financial Health Checkup: https://www.livingbalancesheet.com/lbsVision/lite/michaelraco

This podcast is for informational purposes only and is not to be construed as tax, legal, or investment advice. Although the information has been gathered from sources believed to be reliable, please note that individual situations can vary. Therefore, the information should be relied upon only when coordinated with individual professional advice. Guest speakers and their firms are not affiliated with or endorsed by PAS, Guardian, or Genesis Wealth Planning and opinions stated are their own. Guardian, its subsidiaries, agents, and employees do not provide tax, legal, or accounting advice. Consult your tax, legal, or accounting professional regarding your individual situation. All investments and investment strategies contain risk and may lose value.

Michael Acosta is a Registered Representative and Financial Advisor of Park Avenue Securities LLC (PAS). OSJ: 6115 PARK SOUTH DRIVE, SUITE 200, CHARLOTTE NC, 28210, 704-5528507. Securities products and advisory services offered through PAS, member FINRA, SIPC. Financial Representative of The Guardian Life Insurance Company of America® (Guardian), New York, NY. PAS is a wholly owned subsidiary of Guardian. Genesis Wealth Planning is not an affiliate or subsidiary of PAS or Guardian. CA Insurance License # 0M50974. 7237198.31. Expiration 4/28.

The First 5 Money Moves Every New Attending Should Make - E43

Thu, 09 Apr 2026 00:00:00 -0400

Michael and Brady break down the essential financial roadmap every new resident, fellow, or newly attending physician needs. From managing lifestyle creep and student loan strategy to protecting your most valuable asset, your ability to earn, this episode is the guide you wish you had straight out of med school. Whether you're transitioning from medical school to residency or residency to attending, this conversation offers a clear, actionable framework to help you build wealth with confidence, clarity, and control. If you're a medical professional ready to take charge of your financial future, this one’s for you.

Key Timestamps:

(00:00) - Transitioning from medical school to residency

(03:05) - Jumping from residency to attending salary

(04:54) - Three common financial profiles of new physicians

(07:00) - Salary ranges by specialty and geography

(08:55) - Lifestyle creep and financial risks

(12:20) - Starting with a cash flow analysis

(13:45) - Leveraging your early income for wealth building

(15:27) - Dangers of overindulgence after residency

(17:10) - Hidden risks despite high attending salaries

(18:20) - De-risking your balance sheet

(20:35) - Unique risk factors for medical professionals

(25:55) - Understanding tiers of liquidity

(30:12) - Physician burnout and optionality

(31:50) - Planning to live debt-free

(35:22) - Income-driven repayment and PSLF strategy

(39:05) - Strategic payoff vs. emotional payoff

(41:20) - Prioritizing toxic debt in financial triage

(45:33) - New student loan legislation highlights

Key Topics Discussed:

Money, Taxes & Freedom for High-Earning Professionals, The Dave Ramsey Show, BiggerPockets Podcast, The Motley Fool Money Show, We Study Billionaires, ChooseFI, Afford Anything, Financial planning for physicians, Student loan strategies for doctors, Transitioning from residency to attending, Physician wealth building tips, Medical professional financial advice

Mentions:

Website: https://www.genesiswealthplanning.com/

Michael’s LinkedIn: https://www.linkedin.com/in/michaelracosta/

Brady’s LinkedIn: https://www.linkedin.com/in/brady-hemmerle-cfp%C2%AE-75043013a/

Financial Health Checkup: https://www.livingbalancesheet.com/lbsVision/lite/michaelracosta

Stop Overfunding Your Future and Start Funding Your Life - E42

Thu, 26 Mar 2026 00:00:00 -0400

Michael and Brady break down the real evolution of financial planning: from reacting to stress and uncertainty to building a life driven by purpose, clarity, and intention. Whether you're a young professional navigating cash flow, a growing family juggling competing priorities, a business owner questioning what you're really building, or nearing retirement and wondering, "Do I have enough?”—this conversation goes deeper than numbers on a page.

They uncover the hidden emotional drivers behind financial decisions, the cost of waiting for “perfect timing,” and why optimizing your finances without aligning them to your life can leave you feeling just as unfulfilled. This episode challenges you to stop playing defense with your money—and start using it as a tool to design the life you actually want.

Key Timestamps:

(00:00) - Financial Planning Beyond Problems

(04:20) - Emotional Drivers Behind Money

(06:15) - Young Professionals Financial Pressure

(08:50) - Cash Flow and Hidden Stress

(11:30) - Five Pillar Planning Framework

(16:45) - Burnout and Misaligned Success

(19:20) - The Cost of Waiting

(24:40) - Family Financial Chaos Explained

(27:15) - Experiences Versus Wealth Building

(30:05) - Imperfect Action Creates Progress

(32:50) - Business Owner Financial Challenges

(35:10) - Income Growth but No Freedom

(40:30) - Exit Planning Regret Reality

(43:20) - Life After Business Exit

(46:00) - Retirement Anxiety and Fear

(48:30) - Do You Really Have Enough

(50:45) - Redefining Retirement Success

(53:10) - Aligning Money With Purpose

Key Takeaways:

• Why traditional financial planning often leaves people feeling unfulfilled

• The hidden emotional drivers shaping your financial decisions

• The difference between reactive money management and intentional planning

• How young professionals get trapped in cash flow stress cycles

• Why “success” without alignment leads to burnout

• The real cost of waiting for the “perfect time” to act

• How competing priorities create friction in family finances

• Experiences versus accumulation—and how to balance both

• Why imperfect action creates more progress than perfect planning

• The hidden trade-offs business owners face with time and income

• The question every entrepreneur must answer—what are you really building?

• How to think about exit planning before it’s too late

• Why retirement planning isn’t just about the numbers

• Redefining what “enough” actually means for your life

• How to align your money with your purpose starting now

Key Topics Discussed:

Financial Fortitude, Genesis Wealth Planning, Brady Hemmerle, Michael Acosta, Financial Wellness, Wealth Building, Financial Psychology, Financial Advisor, Finance Coach, Student Loan Debt, Finance Guidance for High Earners, Business Owner Finances, Hiring a Financial Advisor, Student Loan Forgiveness, Tax Strategies, Retirement Planning, Investing Strategies, Financial Guidance for High Earners, Smart Money Moves for High-Income Professionals, Tax, Wealth & Investment Strategies for Top Earners, Financial Planning for Doctors, Lawyers & Execs, Wealth Management Tips for High-Income Earners, Expert Advice on Taxes, Investing & Growing Wealth, High Earner Money Talk, Financial Wisdom for 6-Figure+ Entrepreneurs, Smart Strategies for Managing High Income, Taxes & Freedom for High-Earning Professionals, The Dave Ramsey Show, BiggerPockets Podcast, The Motley Fool Money Show, We Study Billionaires, ChooseFI, Afford Anything, Financial Planning For Purpose, How To Align Money With Life Goals, From Financial Stress To Purpose, Cash Flow And Life Design, Retirement Planning Beyond Numbers

Mentions:

Website: https://www.genesiswealthplanning.com/

Michael’s LinkedIn: https://www.linkedin.com/in/michaelracosta/

Brady’s LinkedIn: https://www.linkedin.com/in/brady-hemmerle-cfp%C2%AE-75043013a/

Financial Health Checkup: https://www.livingbalancesheet.com/lbsVision/lite/michaelraco

One Big Beautiful Bill: What Federal Student Loan Borrowers Must Know for 2026 - E41

Thu, 26 Feb 2026 05:00:00 -0400

Michael and Brady unpack the sweeping impact of the One Big Beautiful Bill and what it means for parents, high-income professionals, and borrowers pursuing loan forgiveness. From the closing Parent PLUS loan loophole to new repayment structures and looming tax consequences, the rules of the game are changing fast. You’ll learn which deadlines matter most, how repayment options are shrinking, and why strategic planning is now more critical than ever. Whether you're aiming for Public Service Loan Forgiveness or long-term repayment strategies, this conversation delivers the clarity you need to make confident financial decisions before key windows close.

Key Timestamps:

(00:00) - Student Loan Changes Overview

(03:00) - Parent PLUS Loan Impacts

(06:00) - College Funding Strategy Shift

(09:00) - Double Consolidation Explained Simply

(15:00) - New Repayment Plan Structure

(18:00) - Switching Plans And Flexibility

(21:00) - Borrower Eligibility Timeline Changes

(24:00) - Tax Bomb Planning Strategy

(27:00) - Long Term Forgiveness Math

(30:00) - Wealth Planning With Debt

(33:00) - Action Steps Before Deadlines

Key Topics Discussed:

Financial Fortitude, Genesis Wealth Planning, Brady Hemmerle, Michael Acosta, Financial Wellness, Wealth Building, Financial Psychology, Financial Advisor, Finance Coach, Student Loan Debt, Finance Guidance for High Earners, Business Owner Finances, Hiring a Financial Advisor, Student Loan Forgiveness, Tax Strategies, Retirement Planning, Investing Strategies, Financial Guidance for High Earners, Smart Money Moves for High-Income Professionals, Tax, Wealth & Investment Strategies for Top Earners, Financial Planning for Doctors, Lawyers & Execs, Wealth Management Tips for High-Income Earners, Expert Advice on Taxes, Investing & Growing Wealth, High Earner Money Talk, Financial Wisdom for 6-Figure+ Entrepreneurs, Smart Strategies for Managing High Income, Taxes & Freedom for High-Earning Professionals, The Dave Ramsey Show, BiggerPockets Podcast, The Motley Fool Money Show, We Study Billionaires, ChooseFI, Afford Anything, Student loan forgiveness changes, Parent PLUS loan strategy, Income driven repayment plans, Student loan tax bomb planning, Federal student loan reform 2026

Mentions:

Website: https://www.genesiswealthplanning.com/

Michael’s LinkedIn: https://www.linkedin.com/in/michaelracosta/

Brady’s LinkedIn: https://www.linkedin.com/in/brady-hemmerle-cfp%C2%AE-75043013a/

Financial Health Checkup: https://www.livingbalancesheet.com/lbsVision/lite/michaelraco

How SBLOCs Can Help Retirees or Business Owners Access Cash Tax-Free - E40

Thu, 12 Feb 2026 02:00:00 -0400

Michael and Brady move beyond theory and into real life, showing exactly how Securities-Backed Lines of Credit (SBLOCs) are used by high earners, business owners, and retirees to create liquidity without selling investments. Building on a prior deep-dive, the conversation walks through real client case studies that reveal when SBLOCs work exceptionally well, and when they can introduce risk if used incorrectly. From home purchases and business buy-ins to retirement renovations and market volatility, the discussion highlights how flexibility, optionality, and tax efficiency drive smarter financial decisions. You’ll hear how interest arbitrage, cash flow planning, and portfolio structure all play a role in successful outcomes. Just as importantly, the episode outlines guardrails to help avoid margin calls and sequence-of-return risk. If you’ve ever wondered how wealthy families actually use SBLOCs in practice, this episode delivers clarity.

Key Timestamps:

(00:00) - Borrowing without selling investments

(06:00) - Liquidity versus asset liquidation

(09:00) - Home purchase SBLOC strategy

(15:00) - Business equity buy-in funding

(18:00) - Interest arbitrage explained clearly

(21:00) - Accumulation versus retirement use

(27:00) - Sequence of returns risk

(30:00) - Market volatility SBLOC planning

(36:00) - When SBLOCs make sense

Key Topics Discussed:

Financial Fortitude, Genesis Wealth Planning, Brady Hemmerle, Michael Acosta, Financial Wellness, Wealth Building, Financial Psychology, Financial Advisor, Finance Coach, Student Loan Debt, Finance Guidance for High Earners, Business Owner Finances, Hiring a Financial Advisor, Student Loan Forgiveness, Tax Strategies, Retirement Planning, Investing Strategies, Financial Guidance for High Earners, Smart Money Moves for High-Income Professionals, Tax, Wealth & Investment Strategies for Top Earners, Financial Planning for Doctors, Lawyers & Execs, Wealth Management Tips for High-Income Earners, Expert Advice on Taxes, Investing & Growing Wealth, High Earner Money Talk, Financial Wisdom for 6-Figure+ Entrepreneurs, Smart Strategies for Managing High Income, Taxes & Freedom for High-Earning Professionals, The Dave Ramsey Show, BiggerPockets Podcast, The Motley Fool Money Show, We Study Billionaires, ChooseFI, Afford Anything,Securities-backed line of credit, Borrowing without selling investments, Tax-efficient liquidity strategies, SBLOC real-world case studies, Portfolio-based lending strategies

Mentions:

Website: https://www.genesiswealthplanning.com/

Michael’s LinkedIn: https://www.linkedin.com/in/michaelracosta/

Brady’s LinkedIn: https://www.linkedin.com/in/brady-hemmerle-cfp%C2%AE-75043013a/

Financial Health Checkup: https://www.livingbalancesheet.com/lbsVision/lite/michaelraco

Mortgage Rates Are Falling—Should You Buy, Refinance, Or Wait? | Keena Gehringer & Brittney Morrison - E39

Thu, 29 Jan 2026 00:00:00 -0400

Michael and Brady invite two mortgage specialists, Keena Gehringer and Brittney Morrison to break down how to choose the right mortgage in today’s market, when refinancing actually makes sense, and why waiting for “perfect” rates can cost more in the long run. You’ll learn how to think beyond interest rates, avoid common first-time buyer mistakes, and align your mortgage with your broader financial goals. Whether you’re buying your first home, moving up, or managing investment properties, this conversation delivers practical clarity you can act on with confidence.

Key Timestamps:

(00:00) - Mortgage market reality check

(03:00) - Understanding homebuyer goals

(06:00) - First-time buyer fundamentals

(09:00) - Understanding today’s interest rates

(12:00) - Waiting versus buying

(15:00) - Mortgage options beyond 30-year

(18:00) - Adjustable-rate mortgage explained

(21:00) - Down payment myths clarified

(24:00) - Refinancing purpose and timing

(27:00) - Using home equity wisely

(30:00) - Investment property loan strategies

(33:00) - When refinancing actually makes sense

(36:00) - Pre-approval versus pre-qualification

(39:00) - Managing your mortgage long-term

(42:00) - Aligning mortgages with life goals

Key Topics Discussed:

Mentions:

Website: https://grandlinelending.com/

Website: https://www.genesiswealthplanning.com/

Michael’s LinkedIn: https://www.linkedin.com/in/michaelracosta/

Brady’s LinkedIn: https://www.linkedin.com/in/brady-hemmerle-cfp%C2%AE-75043013a/

Financial Health Checkup: https://www.livingbalancesheet.com/lbsVision/lite/michaelraco

First-Time Homebuyer’s Guide to Buying a Home in 2026 | David Scibor - E38

Thu, 01 Jan 2026 00:00:00 -0400

Michael and Brady invite top Charlotte real estate agent David Scibor to break down exactly how buyers can put their best offer forward in a competitive and constantly shifting market. From understanding market timing and pricing psychology to building certainty for sellers and avoiding costly first-time buyer mistakes, this conversation delivers a practical, real-world playbook for winning in modern real estate. Whether you’re a first-time buyer, upgrading your home, or investing strategically, this episode connects the financial and emotional sides of buying so you can move forward with purpose and precision.

Key Timestamps:

(00:00) - Modern real estate overview

(03:00) - Agent background experience insights

(06:00) - Buyer emotions versus math

(09:00) - First-time buyer realities

(12:00) - Homeownership wealth statistics

(15:00) - Market discomfort explained clearly

(18:00) - Making strong buyer offers

(21:00) - Due diligence strategies explained

(24:00) - Down payment myths addressed

(27:00) - Charlotte market demand trends

(30:00) - Buyer readiness checklist

(33:00) - Choosing right real estate agent

(36:00) - Hidden buyer risks explained

Key Topics Discussed:

Financial Fortitude, Genesis Wealth Planning, Brady Hemmerle, Michael Acosta, Financial Wellness, Wealth Building, Financial Psychology, Financial Advisor, Finance Coach, Student Loan Debt, Finance Guidance for High Earners, Business Owner Finances, Hiring a Financial Advisor, Student Loan Forgiveness, Tax Strategies, Retirement Planning, Investing Strategies, Financial Guidance for High Earners, Smart Money Moves for High-Income Professionals, Tax, Wealth & Investment Strategies for Top Earners, Financial Planning for Doctors, Lawyers & Execs, Wealth Management Tips for High-Income Earners, Expert Advice on Taxes, Investing & Growing Wealth, High Earner Money Talk, Financial Wisdom for 6-Figure+ Entrepreneurs, Smart Strategies for Managing High Income, Taxes & Freedom for High-Earning Professionals, The Dave Ramsey Show, BiggerPockets Podcast, The Motley Fool Money Show, We Study Billionaires, ChooseFI, Afford Anything, Winning Real Estate Offers, First Time Home Buyer Strategy, How To Make Strong Offer, Modern Real Estate Market Tips, Charlotte Housing Market Insights

Mentions:

David’s Website: https://davidscibor.kw.com/

David’s LinkedIn: https://www.linkedin.com/in/davidscibor

Website: https://www.genesiswealthplanning.com/

Michael’s LinkedIn: https://www.linkedin.com/in/michaelracosta/

Brady’s LinkedIn: https://www.linkedin.com/in/brady-hemmerle-cfp%C2%AE-75043013a/

Financial Health Checkup: https://www.livingbalancesheet.com/lbsVision/lite/michaelraco

Homeowner vs Renter Statistics: https://finance.yahoo.com/news/rent-brace-yourself-homeowners-43xs-090317962.html

Triple the Value on Your Travel Points Redemption With These Credit Card Hacks | Colin Stroud - E37

Thu, 18 Dec 2025 00:00:00 -0400

Michael and Brady sit down with Colin Stroud, founder of Go Somewhere, to reveal how everyday spending can unlock premium travel, luxury experiences, and thousands of dollars in hidden value. Colin breaks down point arbitrage, credit card strategy, and how high-spending business owners can turn routine expenses into first-class flights and five-star hotel stays without spending a dollar more. Whether you're a travel lover, a frequent flyer, or simply someone who wants to optimize your financial life, this conversation will change the way you think about credit cards forever. Learn how to avoid common mistakes, uncover the best perks, and transform spending into a strategic wealth tool.

Key Timestamps:

(00:00) – Credit Cards Explained Clearly

(03:00) – Business Owners Reward Potential

(06:00) – Mindset Behind Credit Usage

(09:00) – Starting Strong Reward Strategy

(12:00) – Choosing Optimal Credit Cards

(15:00) – Understanding Point Arbitrage

(18:00) – Redeeming High-Value Travel

(21:00) – Using Tools For Searches

(24:00) – When To Hire Experts

(27:00) – Travel Seasons Point Value

(30:00) – Hidden Cardholder Travel Perks

(33:00) – Travel Options Beyond Flights

(36:00) – Cash Back Usage Benefits

Key Topics Discussed:

Financial Fortitude, Genesis Wealth Planning, Brady Hemmerle, Michael Acosta, Financial Wellness, Wealth Building, Financial Psychology, Financial Advisor, Finance Coach, Student Loan Debt, Finance Guidance for High Earners, Business Owner Finances, Hiring a Financial Advisor, Student Loan Forgiveness, Tax Strategies, Retirement Planning, Investing Strategies, Financial Guidance for High Earners, Smart Money Moves for High-Income Professionals, Tax, Wealth & Investment Strategies for Top Earners, Financial Planning for Doctors, Lawyers & Execs, Wealth Management Tips for High-Income Earners, Expert Advice on Taxes, Investing & Growing Wealth, High Earner Money Talk, Financial Wisdom for 6-Figure+ Entrepreneurs, Smart Strategies for Managing High Income, Taxes & Freedom for High-Earning Professionals, The Dave Ramsey Show, BiggerPockets Podcast, The Motley Fool Money Show, We Study Billionaires, ChooseFI, Afford Anything, Credit Card Reward Strategy, Travel Points Optimization, Business Owner Spending Perks, Point, Arbitrage Explained, High-Value Travel Redemptions

Mentions:

Guest’s website: https://www.gosomewhere.world/

Guest’s LinkedIn: https://www.linkedin.com/in/gosomewhere

Website: https://www.genesiswealthplanning.com/

Michael’s LinkedIn: https://www.linkedin.com/in/michaelracosta/

Brady’s LinkedIn: https://www.linkedin.com/in/brady-hemmerle-cfp%C2%AE-75043013a/

Financial Health Checkup: https://www.livingbalancesheet.com/lbsVision/lite/michaelraco

How to Build Your Financial Survival Kit After a Sudden Layoff - E36

Thu, 04 Dec 2025 03:00:00 -0400

Michael and Brady break down the first 30 days after losing your job, teaching you how to protect your cash flow, navigate health insurance changes, and make smart decisions about benefits, severance, and retirement accounts. You’ll learn what belongs in your financial “survival kit,” how to avoid emotionally driven mistakes, and how to uncover unexpected silver linings hidden inside uncertainty. Whether you’ve been laid off, feel vulnerable in a shifting economy, or simply want to build stronger preparedness, this episode gives you the mindset and tools to stay grounded, strategic, and financially fortified.

Key Timestamps:

(00:00) – Why job loss preparation matters

(03:00) – Building your financial “survival kit”

(06:00) – Emotion vs. strategy in financial decisions

(10:00) – Emergency funds and when to use them

(15:00) – Understanding insurance and benefit changes

(18:00) – COBRA, marketplace, and spousal coverage

(21:00) – The danger of relying solely on employer benefits

(27:00) – Handling stock options, vesting, and loans

(29:00) – Using SLOCs, HELOCs, and other tools

(31:00) – Roth opportunities in low-income years

Key Topics Discussed:

Financial Fortitude, Genesis Wealth Planning, Brady Hemmerle, Michael Acosta, Financial Wellness, Wealth Building, Financial Psychology, Financial Advisor, Finance Coach, Student Loan Debt, Finance Guidance for High Earners, Business Owner Finances, Hiring a Financial Advisor, Student Loan Forgiveness, Tax Strategies, Retirement Planning, Investing Strategies, Financial Guidance for High Earners, Smart Money Moves for High-Income Professionals, Tax, Wealth & Investment Strategies for Top Earners, Financial Planning for Doctors, Lawyers & Execs, Wealth Management Tips for High-Income Earners, Expert Advice on Taxes, Investing & Growing Wealth, High Earner Money Talk, Financial Wisdom for 6-Figure+ Entrepreneurs, Smart Strategies for Managing High Income, Taxes & Freedom for High-Earning Professionals, The Dave Ramsey Show, BiggerPockets Podcast, The Motley Fool Money Show, We Study Billionaires, ChooseFI, Afford Anything, Job Loss Planning, Financial Survival Kit, Managing Cash Flow During Layoffs, Health Insurance After Job Loss, Roth Conversion Opportunities

Mentions:

Website: https://www.genesiswealthplanning.com/

Michael’s LinkedIn: https://www.linkedin.com/in/michaelracosta/

Brady’s LinkedIn: https://www.linkedin.com/in/brady-hemmerle-cfp%C2%AE-75043013a/

Financial Health Checkup: https://www.livingbalancesheet.com/lbsVision/lite/michaelracosta

What Happens to Your Money if You Die? 5 Beneficiary Mistakes That Could Cost Thousands - E35

Thu, 20 Nov 2025 03:00:00 -0400

Michael and Brady discuss one of the most overlooked but high-impact parts of your estate plan: your beneficiary designations. Even the most carefully written will can be overridden simply because the beneficiary forms were never updated. They break down the real-life consequences families face when designations are missing, outdated, or mismatched and explain how assets can pass through probate, trusts, or direct assignment. You’ll learn the five most common beneficiary mistakes, how to avoid them, and what steps to take this week to ensure your intentions are honored, your loved ones are protected, and your legacy is transferred smoothly. This is a reminder that small details today can eliminate massive headaches later.

Key Timestamps:

(00:00) - Why Beneficiary Designations Matter

(03:00) - How Assets Transfer After Death

(05:00) - Understanding Probate and Why to Avoid It

(09:00) - Privacy in Estate Planning: Probate vs. Trusts

(13:00) - Mistake 1: Not Naming a Beneficiary

(18:00) - Mistake 2: Ignoring Special Circumstances

(23:00) - Mistake 3: Not Updating Beneficiaries After Life Changes

(27:00) - Mistake 4: Errors and Inaccuracies in Beneficiary Information

(29:00) - Mistake 5: Failing to Coordinate Beneficiaries with Your Estate Plan

(33:00) - Summary

Key Topics Discussed:

Financial Fortitude, Genesis Wealth Planning, Brady Hemmerle, Michael Acosta, Financial Wellness, Wealth Building, Financial Psychology, Financial Advisor, Finance Coach, Student Loan Debt, Finance Guidance for High Earners, Business Owner Finances, Hiring a Financial Advisor, Student Loan Forgiveness, Tax Strategies, Retirement Planning, Investing Strategies, Financial Guidance for High Earners, Smart Money Moves for High-Income Professionals, Tax, Wealth & Investment Strategies for Top Earners, Financial Planning for Doctors, Lawyers & Execs, Wealth Management Tips for High-Income Earners, Expert Advice on Taxes, Investing & Growing Wealth, High Earner Money Talk, Financial Wisdom for 6-Figure+ Entrepreneurs, Smart Strategies for Managing High Income, Taxes & Freedom for High-Earning Professionals, The Dave Ramsey Show, BiggerPockets Podcast, The Motley Fool Money Show, We Study Billionaires, ChooseFI, Afford Anything, Estate Planning Mistakes, Beneficiary Designation Tips, How To Avoid Probate, Retirement Account, Beneficiaries, Protecting Family Wealth

Mentions:

Website: https://www.genesiswealthplanning.com/

Michael’s LinkedIn: https://www.linkedin.com/in/michaelracosta/

Brady’s LinkedIn: https://www.linkedin.com/in/brady-hemmerle-cfp%C2%AE-75043013a/

Financial Health Checkup: https://www.livingbalancesheet.com/lbsVision/lite/michaelraco

Why Every Catholic Investor Should Rethink Traditional Investing | Daniel Catone - E34

Thu, 06 Nov 2025 03:00:00 -0400

Michael and Brady sit down with Daniel Catone, founder and CEO of Arimathea Investments, to explore how faith, purpose, and finances can coexist in powerful harmony. Together, they unpack the essence of values-based investing and how Catholic social teaching can serve as a moral compass for building wealth with integrity. Daniel shares his journey from secular finance to faith-driven leadership, revealing how true stewardship means aligning every dollar with divine purpose, without sacrificing performance. This conversation challenges listeners to rethink wealth, not as an end, but as a sacred responsibility to serve others and glorify God through intentional investing.

Key Timestamps:

(00:00) - Defining Values Based Investing

(10:00) - ESG vs Catholic Approach

(18:00) - Educating Clients Faithfully

(22:00) - Catholic Social Teaching Framework

(28:00) - Authenticity in Faith Finance

(33:00) - Advocacy and Ethical Engagement

(37:00) - Performance and Stewardship

(44:00) - Guidance for Catholic Families

(50:00) - Behavioral Finance and Faith

Key Topics Discussed:

Financial Fortitude, Genesis Wealth Planning, Brady Hemmerle, Michael Acosta, Financial Wellness, Wealth Building, Financial Psychology, Financial Advisor, Finance Coach, Student Loan Debt, Finance Guidance for High Earners, Business Owner Finances, Hiring a Financial Advisor, Student Loan Forgiveness, Tax Strategies, Retirement Planning, Investing Strategies, Financial Guidance for High Earners, Smart Money Moves for High-Income Professionals, Tax, Wealth & Investment Strategies for Top Earners, Financial Planning for Doctors, Lawyers & Execs, Wealth Management Tips for High-Income Earners, Expert Advice on Taxes, Investing & Growing Wealth, High Earner Money Talk, Financial Wisdom for 6-Figure+ Entrepreneurs, Smart Strategies for Managing High Income, Taxes & Freedom for High-Earning Professionals, The Dave Ramsey Show, BiggerPockets Podcast, The Motley Fool Money Show, We Study Billionaires, ChooseFI, Afford Anything, Values-Based Investing, Catholic Social Teaching, Faith-Driven Finance, Ethical Wealth Management, Arimathea Investments

Mentions:

Guest’s Website: https://www.arimatheainvesting.com/

Guest’s LinkedIn: https://www.linkedin.com/in/drcatone

Website: https://www.genesiswealthplanning.com/

Michael’s LinkedIn: https://www.linkedin.com/in/michaelracosta/

Brady’s LinkedIn: https://www.linkedin.com/in/brady-hemmerle-cfp%C2%AE-75043013a/

Financial Health Checkup: https://www.livingbalancesheet.com/lbsVision/lite/michaelracosta

5 Common Open Enrollment Mistakes to Avoid This Year - E33

Thu, 23 Oct 2025 03:00:00 -0400

Michael and Brady provide a comprehensive guide on navigating employee benefits and retirement planning during open enrollment. Key topics include the differentiation of healthcare plans like HMOs and PPOs and the strategic use of Health Savings Accounts (HSAs) and Flexible Spending Accounts (FSAs) to maximize tax advantages. The episode also covers the importance of short-term and long-term disability insurance, particularly for maternity leave, the benefits and limitations of group life insurance, and strategic retirement saving. Discussions extend to maximizing employer matches in retirement plans, the considerations between Roth and pre-tax IRAs based on tax brackets, and utilizing legal benefits through employer-provided plans.

Key Takeaways:

• What factors should you consider when choosing between different types of healthcare plans during open enrollment?

• How can enrolling in tax-advantaged accounts like FSAs and HSAs benefit you financially in the short and long term?

• What are the essential employee benefits to prioritize during open enrollment, and how can you maximize their advantages?

Key Timestamps:

(00:00) - Understanding Open Enrollment

(03:15) - Types of Benefits and Considerations

(05:12) - Triggering Life Events and Adjustments

(06:21) - Core vs. Ancillary Benefits

(07:29) - Medical Insurance Options

(15:52) - Flexible Spending Accounts (FSA) vs. Health Savings Accounts (HSA)

(18:44) - Understanding HSA Tax Benefits

(24:38) - The Importance of Disability Insurance

(26:51) - Group Life Insurance Considerations

(30:17) - Retirement Plan Options and Strategies

(35:31) - Leveraging Legal Benefits

Key Topics Discussed:

Mentions:

Website: https://www.genesiswealthplanning.com/

Michael’s LinkedIn: https://www.linkedin.com/in/michaelracosta/

Brady’s LinkedIn: https://www.linkedin.com/in/brady-hemmerle-cfp%C2%AE-75043013a/

Financial Health Checkup: https://www.livingbalancesheet.com/lbsVision/lite/michaelracosta

Contribution Limits: https://www.fidelity.com/learning-center/smart-money/hsa-contribution-limits

This podcast is for informational purposes only and is not to be construed as tax, legal, or investment advice. Although the information has been gathered from sources believed to be reliable, please note that individual situations can vary. Therefore, the information should be relied upon only when coordinated with individual professional advice. Guest speakers and their firms are not affiliated with or endorsed by PAS, Guardian, or (INSERT DBA or AGENCY NAME) and opinions stated are their own. Guardian, its subsidiaries, agents, and employees do not provide tax, legal, or accounting advice. Consult your tax, legal, or accounting professional regarding your individual situation. All investments and investment strategies contain risk and may lose value.

Michael Acosta is a Registered Representative and Financial Advisor of Park Avenue Securities LLC (PAS). OSJ: 6115 PARK SOUTH DRIVE, SUITE 200, CHARLOTTE NC, 28210, 704-5528507. Securities products and advisory services offered through PAS, member FINRA, SIPC. Financial Representative of The Guardian Life Insurance Company of America® (Guardian), New York, NY. PAS is a wholly owned subsidiary of Guardian. (INSERT DBA or AGENCY NAME) is not an affiliate or subsidiary of PAS or Guardian. CA Insurance License # 0M50974. 7237198.21. Exp. 10/27.

Too High-Income for a Roth IRA? Try This Tax-Free Strategic Move - E32

Thu, 09 Oct 2025 03:00:00 -0400

Michael and Brady dive deep into the Roth Waterfall, a practical framework for deciding how and when to use Roth IRAs and Roth 401(k)s. They unpack the real differences between these two powerful retirement tools, explain income thresholds, and reveal strategies for maximizing tax-free growth. Whether you’re a new saver, seasoned investor, or high earner trying to optimize long-term wealth, this episode delivers clarity on how to structure your savings for both flexibility and future freedom.

Key Timestamps:

(00:00) - Defining Roth Accounts

(04:00) - The Power Of Tax-Free Growth

(07:00) - Comparing IRA And 401k

(10:00) - Employer Match Explained

(12:00) - Roth IRA Flexibility

(15:00) - Balancing Savings Buckets

(17:00) - Income Phase-Out Limits

(21:00) - Understanding Backdoor Roths

Key Topics Discussed:

Mentions:

Website: https://www.genesiswealthplanning.com/

Michael’s LinkedIn: https://www.linkedin.com/in/michaelracosta/

Brady’s LinkedIn: https://www.linkedin.com/in/brady-hemmerle-cfp%C2%AE-75043013a/

Financial Health Checkup: https://www.livingbalancesheet.com/lbsVision/lite/michaelracosta

529 Plans Explained—& Their Role in Higher Education Planning - E31

Thu, 25 Sep 2025 03:00:00 -0400

Michael and Brady break down everything you need to know about 529 plans: the education savings tool that parents, grandparents, and families often hear about but rarely understand in full. They reveal how these plans work, the tax advantages, common pitfalls, and strategies to maximize flexibility without jeopardizing retirement goals. Whether you’re saving for your child’s first semester or thinking long-term for your grandkids, this episode arms you with the clarity and confidence to make smart financial decisions about higher education.

Key Timestamps:

(00:00) - What is a 529 plan?

(04:00) - Tax advantages and triple benefits

(07:00) - FAFSA and financial aid considerations

(10:00) - Risks, penalties, and inflexibility

(13:00) - Strategic uses and family planning

(16:00) - In-state vs. out-of-state costs

(20:00) - Building a flexible financial plan

(25:00) - Tuition projections and realistic funding

(28:00) - Investment strategies inside 529 plans

(30:00) - Secure Act 2.0 and Roth conversion benefits

Key Topics Discussed:

Money, Taxes & Freedom for High-Earning Professionals, The Dave Ramsey Show, BiggerPockets Podcast, The Motley Fool Money Show, We Study Billionaires, ChooseFI, Afford Anything, 529 college savings, Education tax benefits, FAFSA planning, Retirement vs college savings, Secure Act 2.0

Mentions:

Website: https://www.genesiswealthplanning.com/

Michael’s LinkedIn: https://www.linkedin.com/in/michaelracosta/

Brady’s LinkedIn: https://www.linkedin.com/in/brady-hemmerle-cfp%C2%AE-75043013a/

Financial Health Checkup: https://www.livingbalancesheet.com/lbsVision/lite/michaelracosta

UNC Chapel Hill Cost Breakdown (2024)

Secure Act 2.0: 529 to Roth IRA Conversion Rules

FAFSA Asset Assessment Rates by Account Type

What Financial Issues Should You Consider When Going Through a Divorce | Sabreena Barboza - E30

Thu, 11 Sep 2025 03:00:00 -0400

Michael and Brady sit down with powerhouse family law attorney Sabreena Barboza to uncover the often-overlooked financial consequences of separation. From understanding the difference between marital and separate property to navigating business valuations, debt division, child support, and alimony, this conversation is a must-listen for anyone facing or considering divorce. Whether you're a high-earning professional, a business owner, or simply want to protect your financial future, Sabreena delivers the legal clarity and practical steps you need to prepare, plan, and move forward with confidence.

Key Timestamps:

(00:00) - Debt, secrecy, and financial infidelity

(04:00) - Communication and joint money management

(05:00) - Sentiment around debt and marriage

(08:00) - Types of divorce clients and complexity by age

(11:00) - Marital vs. separate property explained

(15:00) - Homemaker vs. working spouse considerations

(16:00) - Qualified Domestic Relations Orders (QDROs)

(20:00) - Divorce impact on business partners

(24:00) - Alimony, cash flow, and income disparities

(27:00) - Equalization of income in long-term marriages

(32:00) - Child support calculators and tax implications

(39:00) - Cost, time, and emotional toll of divorce

(43:00) - When the court rejects unfair agreements

(46:00) - Prenuptial and postnuptial agreements

Key Topics Discussed:

Money, Taxes & Freedom for High-Earning Professionals, The Dave Ramsey Show, BiggerPockets Podcast, The Motley Fool Money Show, We Study Billionaires, ChooseFI, Afford Anything, Divorce financial planning, Business valuation in divorce, Marital vs separate property, Alimony and child support laws, Debt division in divorce

Mentions:

Sabreena’s Website: https://www.sbarbozalaw.com/

Sabreena’s LinkedIn: https://www.linkedin.com/in/sabreena-barboza-815959168

Website: https://www.genesiswealthplanning.com/

Michael’s LinkedIn: https://www.linkedin.com/in/michaelracosta/

Brady’s LinkedIn: https://www.linkedin.com/in/brady-hemmerle-cfp%C2%AE-75043013a/

Financial Health Checkup: https://www.livingbalancesheet.com/lbsVision/lite/michaelracosta

Article: https://www.cnbc.com/select/national-debt-relief-survey-debt-reason-for-divorce/

Article: https://www.investmentnews.com/ria-news/financial-infidelity-credit-card-debt-behind-one-third-of-divorces/249211

You Make Good Money… So Why Don’t You Feel Wealthy? - E29

Thu, 28 Aug 2025 03:00:00 -0400

What does it really mean to feel wealthy? Michael and Brady dive into the emotional side of money, exploring why so many high earners still feel financially insecure despite their income and assets. Sparked by Charles Schwab’s latest Modern Wealth Report, the hosts unpack the surprising disconnect between being rich and feeling wealthy, challenge the popular $2.6 million "retirement number," and reveal how mindset, behavior, and personal values shape true financial contentment. Whether you’re approaching retirement or simply wondering if you're on track, this episode will shift how you think about money, fulfillment, and the power of intentional planning.

Key Timestamps:

(00:00) - The $2.6 million “wealthy” number explained

(03:00) - Emotional math vs. bank account balance

(06:00) - Feeling rich vs. feeling wealthy

(08:00) - Redefining wealth: health, relationships, and happiness

(10:00) - Permission to spend: emotional barriers to enjoying money

(13:00) - Coaching clients to redefine retirement goals

(16:00) - Accumulation vs. decumulation phases

(18:00) - Lifestyle choices, debt, and financial independence

(21:00) - Better questions to ask your financial advisor

(28:00) - Principal and interest vs. 4% withdrawal strategy

Key Topics Discussed:

Money, Taxes & Freedom for High-Earning Professionals, The Dave Ramsey Show, BiggerPockets Podcast, The Motley Fool Money Show, We Study Billionaires, ChooseFI, Afford Anything, Feel wealthy vs. be wealthy, Charles Schwab Modern Wealth Report, Financial independence mindset, Retirement planning strategies, Emotional side of money

Mentions:

Website: https://www.genesiswealthplanning.com/

Michael’s LinkedIn: https://www.linkedin.com/in/michaelracosta/

Brady’s LinkedIn: https://www.linkedin.com/in/brady-hemmerle-cfp%C2%AE-75043013a/

Financial Health Checkup: https://www.livingbalancesheet.com/lbsVision/lite/michaelracosta

Article: https://www.thinkadvisor.com/2025/07/09/heres-how-much-money-it-takes-to-feel-wealthy-schwab/

You’re Making Money—Now What? Smart Money Moves for Residents & Doctors - E28

Thu, 14 Aug 2025 03:00:00 -0400

Key Timestamps:

(00:00) - Transitioning from medical school to residency

(03:05) - Jumping from residency to attending salary

(04:54) - Three common financial profiles of new physicians

(07:00) - Salary ranges by specialty and geography

(08:55) - Lifestyle creep and financial risks

(12:20) - Starting with a cash flow analysis

(13:45) - Leveraging your early income for wealth building

(15:27) - Dangers of overindulgence after residency

(17:10) - Hidden risks despite high attending salaries

(18:20) - De-risking your balance sheet

(20:35) - Unique risk factors for medical professionals

(25:55) - Understanding tiers of liquidity

(30:12) - Physician burnout and optionality

(31:50) - Planning to live debt-free

(35:22) - Income-driven repayment and PSLF strategy

(39:05) - Strategic payoff vs. emotional payoff

(41:20) - Prioritizing toxic debt in financial triage

(45:33) - New student loan legislation highlights

Key Topics Discussed:

Mentions:

Website: https://www.genesiswealthplanning.com/

Michael’s LinkedIn: https://www.linkedin.com/in/michaelracosta/

Brady’s LinkedIn: https://www.linkedin.com/in/brady-hemmerle-cfp%C2%AE-75043013a/

Financial Health Checkup: https://www.livingbalancesheet.com/lbsVision/lite/michaelracosta

When Life Throws You a Curveball—Don’t Go Broke - E27

Thu, 31 Jul 2025 03:00:00 -0400

When life throws an unexpected curveball, job loss, medical crisis, or the AC goes out in the middle of July, will your finances strike out or stand strong? Michael and Brady break down the often-overlooked cornerstone of a resilient financial plan: your emergency fund, or as they call it, your "life events fund." From smart strategies for building liquidity to leveraging backup tools like credit lines and Roth IRAs, they reveal how to turn chaos into control. With real-life client stories, actionable frameworks, and powerful analogies, this episode is your playbook for weathering the financial storms that will come. Prepare today so tomorrow doesn’t catch you off guard.

Key Timestamps:

(00:00) - Why investors and high earners need liquidity

(10:00) - Life events fund vs. emergency fund

(15:00) - Liquidity backups: credit cards, HELOCs, Roth IRAs

(19:00) - 401(k) loans and accessing retirement funds

(22:00) - Budgeting vs. transferring risk

(24:00) - Disability and job loss planning with insurance

(27:00) - DIY planning and the value of decision trees

(29:00) - Cash flow chaos plans and budget cuts

(31:00) - Coordinating planning with your partner

Key Topics Discussed:

Financial Fortitude, Genesis Wealth Planning, Brady Hemmerle, Michael Acosta, Financial Wellness, Wealth Building, Financial Psychology, Financial Advisor, Finance Coach, Student Loan Debt, Finance Guidance for High Earners, Business Owner Finances, Hiring a Financial Advisor, Student Loan Forgiveness, Tax Strategies, Retirement Planning, Investing Strategies, Financial Guidance for High Earners, Smart Money Moves for High-Income Professionals, Tax, Wealth & Investment Strategies for Top Earners, Financial Planning for Doctors, Lawyers & Execs, Wealth Management Tips for High-Income Earners, Expert Advice on Taxes, Investing & Growing Wealth, High Earner Money Talk, Financial Wisdom for 6-Figure+ Entrepreneurs, Smart Strategies for Managing High Income Money, Taxes & Freedom for High-Earning Professionals, The Dave Ramsey Show, BiggerPockets Podcast, The Motley Fool Money Show, We Study Billionaires, ChooseFI, Afford Anything

Mentions:

Website: https://www.genesiswealthplanning.com/

Michael’s LinkedIn: https://www.linkedin.com/in/michaelracosta/

Brady’s LinkedIn: https://www.linkedin.com/in/brady-hemmerle-cfp%C2%AE-75043013a/

Financial Health Checkup: https://www.livingbalancesheet.com/lbsVision/lite/michaelracosta

NerdWallet’s Best Savings Accounts: https://www.nerdwallet.com/best/banking/savings-accounts?msockid=3ddb198c15df6ab502ef0a8914486b41

Where Should My Next Dollar Go?: https://drive.google.com/file/d/1ovF3AEiq63aXgiDo5MqzXqYkM4LATOso/view?usp=drive_link

Not Your Grandma's Annuity—Why The New Breed Might Actually Work For You - E26

Thu, 17 Jul 2025 00:00:00 -0400

Forget everything you thought you knew about annuities. Michael and Brady unpack the modern annuity revolution, how today’s annuities have evolved from the high-fee, complex products of the past into strategic financial tools designed to reduce retirement anxiety and boost income certainty. From personal pensions to market-buffered investment strategies, they explore the real-world applications and common misconceptions surrounding annuities. Whether you're decades away from retirement or planning to exit the workforce soon, this episode delivers critical insights to help you confidently build a purpose-driven retirement income plan.

Key Timestamps:

(00:00) - The decline of pensions and rise of 401(k)s

(09:00) - Employer vs. employee retirement risk

(11:00) - Emotional benefits of guaranteed income

(15:00) - What exactly is an annuity?

(21:00) - When income-focused annuities make sense

(23:00) - Growth-focused annuities for young investors

(25:00) - The role of registered index-linked annuities (RILAs)

(32:00) - RILAs vs. traditional fixed income

(38:00) - Replacing income gaps with personal pensions

(45:00) - Balancing investment and insurance strategies

Key Topics Discussed:

Mentions:

Website: https://www.genesiswealthplanning.com/

Michael’s LinkedIn: https://www.linkedin.com/in/michaelracosta/

Brady’s LinkedIn: https://www.linkedin.com/in/brady-hemmerle-cfp%C2%AE-75043013a/

Financial Health Checkup: https://www.livingbalancesheet.com/lbsVision/lite/michaelracosta

How the Wealthy Use SBLOCs to Borrow Tax-Free Without Selling - E25

Thu, 03 Jul 2025 00:00:00 -0400

Michael and Brady dive into one of the most misunderstood yet increasingly leveraged financial tools for high earners and investors, the Securities-Backed Line of Credit (SBLOC). Is it a smart strategy to unlock liquidity without triggering taxes, or a risky move that could backfire in volatile markets? Whether you’re navigating emergency funding, eyeing a new investment opportunity, or building a financial moat around your wealth, this episode breaks down everything you need to know about SBLOCs — how they work, when to use them, the risks involved, and how to make them a powerful piece of your planning arsenal. Don't miss this insightful conversation designed to help you think smarter about accessing capital while keeping your portfolio intact.

Key Timestamps:

(00:00) - What is a Securities-Backed Line of Credit?

(03:00) - Comparison to a Home Equity Line of Credit (HELOC)

(06:00) - Key differences in setup: HELOC vs. SBLOC

(10:00) - Tax implications and investment preservation

(12:00) - Preserving portfolio value with SBLOC

(14:00) - Impact of portfolio growth on line of credit

(16:00) - Risks of withdrawing during down markets

(21:00) - SOFR rate and tiered interest costs

(23:00) - Strategic planning for loans and purchases

(25:00) - Using SBLOCs during market downturns

(26:00) - Protecting against emotional investing

(29:00) - When to consult an advisor or CPA

Key Topics Discussed:

Mentions:

Website: https://www.genesiswealthplanning.com/

Michael’s LinkedIn: https://www.linkedin.com/in/michaelracosta/

Brady’s LinkedIn: https://www.linkedin.com/in/brady-hemmerle-cfp%C2%AE-75043013a/

Financial Health Checkup: https://www.livingbalancesheet.com/lbsVision/lite/michaelracosta

Is Renting a Waste—or Is Homeownership Just Too Expensive? - E24

Thu, 19 Jun 2025 00:00:00 -0400

Michael and Brady dive headfirst into one of the most debated financial decisions of our time: renting vs. buying. With candid personal stories, professional insight, and a side-by-side breakdown of the emotional and mathematical realities, they unpack what truly makes sense for young professionals, growing families, and everyone caught in the housing dilemma. Whether you're saving for your first down payment or wondering if you missed the boat, this episode delivers clarity, strategy, and perspective you won’t want to miss.

Key Timestamps:

(00:00) - Michael’s first home purchase story

(05:00) - Emotional and financial motivations for buying

(07:00) - Turning a home into an income-generating asset

(09:00) - Hidden costs and discomfort of first-year ownership

(13:00) - Brady’s experience and reasons for renting

(18:00) - Challenges of saving while renting

(22:00) - Market conditions, timing, and lifestyle alignment

(26:00) - Charlotte housing market appreciation stats

(31:00) - Rent vs. buy cost analysis setup

(39:00) - Comparing net worth: equity vs. liquidity

(44:00) - What renters must do to keep pace financially

(48:00) - Roommate strategy to reduce mortgage burden

(51:00) - Generational differences in housing mindset

Key Topics Discussed:

Mentions:

Website: https://www.genesiswealthplanning.com/

Michael’s LinkedIn: https://www.linkedin.com/in/michaelracosta/

Brady’s LinkedIn: https://www.linkedin.com/in/brady-hemmerle-cfp%C2%AE-75043013a/

Financial Health Checkup: https://www.livingbalancesheet.com/lbsVision/lite/michaelracosta

Rent vs. Buy Calculator: https://www.nerdwallet.com/calculator/rent-vs-buy-calculator

Should You Buy That New Car? - E23

Thu, 05 Jun 2025 03:00:00 -0400

Michael and Brady confront a challenge many retirees face but few openly talk about: when peace of mind outweighs the numbers on a spreadsheet. Is your aging car a financial liability or an emotional burden? Should you stretch your budget for a reliable vehicle, even if the math says “wait”? Together, Michael and Brady unpack the emotional crossroads where safety, lifestyle, and financial planning collide. You'll hear real client scenarios, practical tools to evaluate your options, and why a sound income plan gives you the freedom to say “yes” to what truly matters—even when the numbers don’t line up perfectly. Whether you’re retired, approaching retirement, or simply value peace of mind over perfect math, this episode will reshape the way you think about big-ticket decisions.

Key Timestamps:

(00:00) - Purpose-driven decisions and emotional bias

(07:00) - Collecting key data before making a purchase

(10:00) - Defining what you want in your next car

(12:00) - Financing options and the role of interest rates

(14:00) - The importance of flexibility in retirement income plans

(17:00) - Balancing emotional comfort with financial impact

(20:00) - How a solid income plan supports confident decisions

Key Topics Discussed:

Mentions:

Website: https://www.genesiswealthplanning.com/

Michael’s LinkedIn: https://www.linkedin.com/in/michaelracosta/

Brady’s LinkedIn: https://www.linkedin.com/in/brady-hemmerle-cfp%C2%AE-75043013a/

Financial Health Checkup: https://www.livingbalancesheet.com/lbsVision/lite/michaelracosta

Why Millennials Feel Behind Financially Despite Doing Everything Right - E22

Thu, 22 May 2025 00:00:00 -0400

Michael and Brady dig deep into a paradox affecting a generation: Millennials and Gen Z are planning their finances more than ever, yet still feel financially stuck. If you’ve ever felt like you’re checking all the boxes—budgeting, saving, investing—but still can’t shake the feeling of falling behind, this episode is for you. It’s not just about numbers—it’s about perspective, purpose, and progress. This isn’t your parents’ financial playbook, and that’s exactly why you need a new approach.

Key Takeaways:

• Why do younger Americans feel financially behind despite taking more proactive steps with their money?

• How have rising costs, shifting responsibilities, and social comparisons reshaped what financial success looks like today?

• What mindset and planning strategies can help Millennials and Gen Z find clarity, reduce stress, and build lasting financial momentum?

Key Timestamps:

(00:00) - Gen Z and Millennials: DIY financial planning trends

(05:00) - Major stressors: housing, student loans, and rising costs

(10:00) - Behavioral finance and anxiety-driven decision-making

(13:00) - Wage growth vs. cost of living: the uphill financial battle

(16:00) - Retirement savings shift: from pensions to 401(k)s

(19:00) - Rethinking the “standard” financial script

(22:00) - How to set goals that actually fit your life

(24:00) - The role of liquidity and flexibility in your financial plan

(27:00) - Why working with a coach or advisor makes a difference

(33:00) - Climbing the financial mountain: accumulation vs. decumulation

Key Topics Discussed:

Mentions:

Website: https://www.genesiswealthplanning.com/

Michael’s LinkedIn: https://www.linkedin.com/in/michaelracosta/

Brady’s LinkedIn: https://www.linkedin.com/in/brady-hemmerle-cfp%C2%AE-75043013a/

Financial Health Checkup: https://www.livingbalancesheet.com/lbsVision/lite/michaelracosta

4 Important Considerations for RSUs Every High Earner Needs to Know - E21

Thu, 08 May 2025 00:00:00 -0400

Are your Restricted Stock Units (RSUs) helping you build wealth—or holding you back? Michael and Brady break down one of the most misunderstood components of a high-income professional’s compensation package: RSUs. From tax implications and diversification strategies to avoiding lifestyle creep and planning with purpose, this episode gives you the tools to turn stock awards into long-term financial security. Whether you're new to RSUs or looking to sharpen your strategy, you’ll walk away with actionable insights to level up your wealth-building game. This episode is a must-listen for anyone receiving equity compensation and wanting to build extraordinary wealth with clarity and confidence.

Key Takeaways:

• How can professionals strategically manage RSUs to align with their short- and long-term financial goals?

• What are the key tax implications of RSUs, and how can you plan ahead to avoid surprises?

• Why is it important to diversify RSU holdings, and what are the risks of overconcentration in company stock?

Key Timestamps:

(00:00) - What are RSUs

(02:00) - Excitement and risks of RSUs

(04:00) - Vesting and phantom value explained

(07:00) - Risks of changing employers

(08:00) - Tax implications when RSUs vest

(09:00) - Why companies prefer RSUs over bonuses

(16:00) - Planning around estimated taxes and W-4

(17:00) - Options after receiving vested shares

(23:00) - Emotional bias and loyalty to company stock

(24:00) - Goals-based decisions and opportunity cost

(25:00) - Periodic sales and tax considerations

(26:00) - Aligning RSUs with short- and long-term goals

(28:00) - Plan rules and trading restrictions

(31:00) - Risk of holding too much company stock

Key Topics Discussed:

Mentions:

Website: https://www.genesiswealthplanning.com/

Michael’s LinkedIn: https://www.linkedin.com/in/michaelracosta/

Brady’s LinkedIn: https://www.linkedin.com/in/brady-hemmerle-cfp%C2%AE-75043013a/

Financial Health Checkup: https://www.livingbalancesheet.com/lbsVision/lite/michaelracosta

The Roth Opportunity Hiding in the Market Meltdown - E20

Thu, 24 Apr 2025 00:00:00 -0400

Market corrections can be unsettling, but for savvy investors, they also unlock powerful planning opportunities. In this eye-opening episode, Michael and Brady break down why a down market might be the perfect time to consider a Roth conversion. Learn how converting pre-tax retirement savings to Roth during a downturn can reduce your tax liability and supercharge your future tax-free growth. Discover who should consider this strategy, the key tax traps to avoid, and why coordination with your financial and tax professionals is critical. Whether you're years away from retirement or already taking distributions, this timely discussion could help you turn market lemons into long-term tax-free lemonade. If you're serious about proactive tax planning and wealth building—even in volatile times—this is an episode you won’t want to miss.

Key Takeaways:

• Why is a market downturn a strategic time to consider a Roth conversion?

• What key tax and income considerations should be reviewed before making a Roth move?

• Who stands to benefit most from Roth conversions, and how can professionals help guide the decision?

Key Timestamps:

(00:00) – The Psychology of a Pullback & Planning Ahead

(03:00) – Beyond “Hold the Line”: Turning Volatility Into Strategy

(04:30) – What is a Roth Conversion?

(06:00) – The Long-Term Tax-Free Growth Advantage

(08:30) – Roth vs. Traditional in Retirement

(10:00) – Why Down Markets Can Mean Lower Tax Bills

(13:00) – Who Should Consider Roth Conversions?

(15:00) – Key Tax Considerations & Common Pitfalls

(18:00) – Avoiding Mistakes: Timing, Income, and Liquidity

(21:00) – Who to Involve: Advisors, CPAs, and Your Spouse

(23:00) – Executing Smartly

Key Topics Discussed:

Mentions:

Website: https://www.genesiswealthplanning.com/

Michael’s LinkedIn: https://www.linkedin.com/in/michaelracosta/

Brady’s LinkedIn: https://www.linkedin.com/in/brady-hemmerle-cfp%C2%AE-75043013a/

Financial Health Checkup: https://www.livingbalancesheet.com/lbsVision/lite/michaelracosta

Student Loans: SAVE Plan Lawsuit, Time-Based Forgiveness, and PSLF Buyback Explained - E19

Thu, 10 Apr 2025 00:00:00 -0400

Michael and Brady dive into the rapidly shifting landscape of federal student loans — and why now is the time to pay attention. From the return of online applications at studentaid.gov to the major legal uncertainty around the SAVE plan, we unpack what borrowers need to do today to stay on track. Whether you're navigating income-driven repayment, thinking about loan consolidation, or just trying to avoid costly mistakes during tax season, this episode gives you clear insights and action steps. You'll learn how to choose between PSLF and time-based forgiveness — why your 2024 tax return could make or break your student loan payment — what happens if popular repayment plans like SAVE, PAYE, or ICR disappear — how to take control in a confusing, lawsuit-laden loan environment. Confused? Overwhelmed? You’re not alone — but you don’t have to be unprepared. Tune in to feel empowered, not paralyzed.

Key Takeaways:

• What recent legal and administrative developments have impacted the availability and structure of federal student loan repayment plans?

• How can borrowers use tax filing strategies to potentially reduce their monthly student loan payments?

• What are the differences in impact between public service loan forgiveness and time-based forgiveness amid ongoing changes in loan policy?

Key Timestamps:

(00:00) - Recent Developments in Student Loans

(05:00) - Impact on Borrowers

(09:00) - Where We Stand Now

(12:00) - Why Borrowers May Want to Act Now

(15:00) - Tax Filing and Loan Strategy

(20:00) - Extension Strategy

(22:00) - Married Couple (Resident + Working Spouse)

(25:00) - Number Crunching: SAVE vs IBR

(30:00) - Long-Term Planning Outlook

Key Topics Discussed:

Mentions:

Website: https://www.genesiswealthplanning.com/

Michael’s LinkedIn: https://www.linkedin.com/in/michaelracosta/

Brady’s LinkedIn: https://www.linkedin.com/in/brady-hemmerle-cfp%C2%AE-75043013a/

Financial Health Checkup: https://www.livingbalancesheet.com/lbsVision/lite/michaelracosta

Should We Fear a Recession? Explaining Market Volatility - E18

Thu, 27 Mar 2025 03:00:00 -0400

The stock market has been a wild ride lately, and if your emotions are following every twist and turn, you're not alone. Market swings can be nerve-wracking, but staying level-headed is the key to long-term success. In this episode, Michael and Brady break down exactly what market volatility means for your investments, no matter where you are in your financial journey. Whether you're just starting out, mid-career, or closing in on retirement, this episode will help you navigate turbulent markets with confidence. From smart portfolio strategies to opportunities hidden in the chaos, we’re turning uncertainty into action. Don't let fear drive your financial future! Tune in to hear expert insights, practical advice, and a refreshing perspective on why staying the course could be your best move yet. Grab your coffee (or something stronger), and let’s dive in!

Key Takeaways:

• How should investors approach market volatility based on their stage in the financial journey (accumulation vs. retirement)?

• What strategies can help mitigate risks and take advantage of market downturns, such as rebalancing and tax-efficient investing?

• Why is it important to focus on long-term investing and avoid making emotional decisions based on short-term market fluctuations?

Key Timestamps:

(00:00) – Market Fluctuations and Emotions

(03:00) – Market Volatility for Beginner Investors

(04:00) – Buying Market Dips

(07:00) – Historical S&P 500 Performance

(08:00) – Positive vs. Negative Years

(12:00) – Impact on Retirees

(15:00) – Wade Pfau’s Research

(18:00) – Retirement Allocations

(21:00) – Short vs. Long-Term Outlooks

(23:00) – 2025 Market Outlook

(24:00) – Diversification

Key Topics Discussed:

Mentions:

Website: https://www.genesiswealthplanning.com/

Michael’s LinkedIn: https://www.linkedin.com/in/michaelracosta/

Brady’s LinkedIn: https://www.linkedin.com/in/brady-hemmerle-cfp%C2%AE-75043013a/

Financial Health Checkup: https://www.livingbalancesheet.com/lbsVision/lite/michaelracosta

Are You Really on Track for Retirement? The $7.9M Wake-Up Call | E17

Thu, 13 Mar 2025 00:00:00 -0400

Retirement—it's the finish line we're all running toward, but how do you know if you're actually on track? Michael and Brady break down the key questions you need to ask yourself, the common pitfalls to avoid, and the real numbers behind what it takes to retire comfortably. Whether you're in your 20s just starting to save, in your 40s navigating peak earning years, or approaching retirement and wondering if you have enough, this episode is packed with actionable insights to help you plan with confidence. Plus, they debunk the fear-inducing retirement calculators and offer a fresh, realistic approach to building your financial future. If you've ever felt overwhelmed by retirement planning, don't worry—you’re not alone. Tune in as Michael and Brady humanize the process, providing practical steps and guidance to ensure you’re building financial fortitude for your future.

Key Takeaways:

• How can individuals assess whether they are on track for retirement based on their age, savings, and lifestyle needs?

• Why is focusing on income and cash flow in retirement more important than simply accumulating assets?

• What key financial milestones should individuals aim for in each decade of their working years to ensure a secure retirement?

Key Timestamps:

(00:00) - The importance of retirement planning and why it matters at any stage of life.

(03:00) - Regional differences in retirement expectations and how they impact planning.

(05:00) - Common questions people ask about their retirement readiness.

(06:00) - Key factors: Monthly spending and income as primary indicators.

(09:00) - Case study: A mid-30s professional with $500K in assets – is he on track?

(11:00) - The impact of inflation and why future expenses will be higher.

(13:00) - The importance of saving 20% of income and the challenges of peak earning years.

(15:00) - Benchmarks: How much should you have saved by different ages?

(18:00) - How guaranteed income sources (Social Security, pensions) affect retirement planning.

(20:00) - Different financial situations: A high-net-worth client vs. a frugal retiree.

(23:00) - The journey up the mountain (accumulation) vs. the journey down (distribution).

(27:00) - Risks in retirement and why flexibility is key.

Key Topics Discussed:

Mentions:

Website: https://www.genesiswealthplanning.com/

Michael’s LinkedIn: https://www.linkedin.com/in/michaelracosta/

Brady’s LinkedIn: https://www.linkedin.com/in/brady-hemmerle-cfp%C2%AE-75043013a/

Financial Health Checkup: https://www.livingbalancesheet.com/lbsVision/lite/michaelracosta

Waiting on THIS Could Cost You More Than You Think - E16

Thu, 27 Feb 2025 00:00:00 -0400

Most young professionals think they’re invincible. They’re healthy, thriving, and focused on building their careers and wealth. The idea of life insurance? It often gets dismissed as an unnecessary expense—something to "deal with later." But what if later never comes? In this episode of Financial Fortitude, hosts Michael Acosta and Brady Hemerly break down one of the most overlooked yet essential financial tools: term life insurance. It’s not just about covering funeral costs; it’s about ensuring financial security for your loved ones, keeping them from scrambling to survive on GoFundMe donations in the face of an unexpected loss. Micheal and Brady also tackle common misconceptions, debunk the "just invest the difference" argument, and show you why life insurance isn’t just for the old or unhealthy—it’s a strategic wealth-building tool that could safeguard everything you’ve worked so hard for. If you think you don’t need life insurance, this conversation might change your perspective—and potentially, your legacy.

Key Takeaways:

• Why is term life insurance often overlooked by young, healthy professionals, and how can it serve as a strategic financial tool?

• How does term life insurance provide financial stability and peace of mind in the event of an untimely death?

• What are the key factors to consider when determining the appropriate amount and type of life insurance coverage you need?

Key Timestamps:

(00:00) - Breaking Myths About Term Life Insurance

(03:00) - The Debate: 'Why Not Just Invest Instead?'

(05:00) - Case Study: Young Medical Professional at a Crossroad

(07:00) - The Perceived Waste: 'Why Pay If I Won't Use It?'

(10:00) - The Math: What You Actually Pay vs. What You Get

(12:00) - Accumulation vs. Deaccumulation

(13:00) - Worst-Case Scenario: Death in Year 5

(18:00) - The Power of a $1M Tax-Free Death Benefit

(22:00) - Risk Over Time: Why Coverage Decreases as You Age

(27:00) - Death in Year 15 vs. Year 30: What’s the Difference?

(29:00) - Unrealistic Growth Rates for Self-Insuring

(31:00) - Life Insurance for Different Life Stages

Key Topics Discussed:

Financial Fortitude, Genesis Wealth Planning, Brady Hemmerle, Michael Acosta, Financial Wellness, Wealth Building, Financial Psychology, Financial Advisor, Finance Coach, Student Loan Debt, Finance Guidance for High Earners, Business Owner Finances, Hiring a Financial Advisor, Student Loan Forgiveness, Tax Strategies, Retirement Planning, Investing Strategies, Stock Market Crashes, Millennial Financial Planning, Gen Z Money Struggles, Overcoming Financial Stress, Building Financial Confidence, Modern Financial Goals Strategy, term life insurance, young professionals, financial future, retirement goals, tax free death benefit, financial stability, life insurance premiums, investing, savings, financial advisors, wealth building, financial immune system, GoFundMe, retirement, financial flexibility, peace of mind, tax free, death benefit, extraordinary wealth building rate, medical professionals.

Mentions:

Website: https://www.genesiswealthplanning.com/

Michael’s LinkedIn: https://www.linkedin.com/in/michaelracosta/

Brady’s LinkedIn: https://www.linkedin.com/in/brady-hemmerle-cfp%C2%AE-75043013a/

Financial Health Checkup: https://www.livingbalancesheet.com/lbsVision/lite/michaelracosta

How to Make the Most of Your Inheritance & Avoid the Pitfalls - E15

Thu, 13 Feb 2025 05:00:00 -0400

Michael and Brady delve into the complexities of managing an inheritance. They guide listeners through the steps of handling an inheritance wisely—from understanding what assets are inherited to aligning the windfall with personal financial goals and avoiding common pitfalls. The episode emphasizes the immense $84 trillion wealth transfer expected by 2045 and the importance of planning for both the giver and the receiver. Key topics include maintaining emotional discipline, understanding tax implications, and the necessity of clear communication within families. Key takeaways and actionable steps are highlighted to ensure listeners can make purposeful financial decisions that align with their long-term goals.

Key Takeaways:

• What are the key steps you should take immediately after receiving an inheritance?

• How can understanding the types of assets you inherit affect your financial planning?

• Why is it important to seek professional advice before making decisions about your inheritance?

Key Timestamps:

(00:00) - The Emotional Impact of Inheritance

(03:57) - Statistics and Trends in Inheritance

(08:33) - Proactive Planning and Communication

(14:15) - Steps to Take After Receiving an Inheritance

(21:31) - Understanding Different Types of Inherited Assets

(24:10) - Key Considerations for Inherited Assets

(32:54) - Immediate Gratification

(37:10) - Common Pitfalls in Inheriting Money

Key Topics Discussed:

Mentions:

Website: https://www.genesiswealthplanning.com/

Michael’s LinkedIn: https://www.linkedin.com/in/michaelracosta/

Brady’s LinkedIn: https://www.linkedin.com/in/brady-hemmerle-cfp%C2%AE-75043013a/

Financial Health Checkup: https://www.livingbalancesheet.com/lbsVision/lite/michaelracosta

What You Don’t Want to Overlook When Buying or Selling Your Business | Justin Sandridge - E14

Thu, 30 Jan 2025 00:00:00 -0400

Justin Sandridge, an experienced M&A advisor from Murphy Business Sales, discusses the intricacies of buying or selling a business, emphasizing the importance of meticulous planning and professional guidance. Justin shares his insights on key financial, legal, and operational details that business owners should not overlook. The conversation also touches on the importance of early planning, understanding business valuation, and how to make a business more marketable by focusing on financial reporting, reducing owner dependency, and diversifying customer concentration. This episode is part one of a mini-series designed to help business owners and entrepreneurs navigate one of the most significant decisions they will ever make.

Key Takeaways:

• Why is early exit planning crucial for business owners, and what timeframe is recommended for starting this process?

• What are the key financial and operational factors that can influence the valuation of a business?

• Who are the essential professionals that business owners should engage with during the exit planning process?

Key Timestamps:

(00:00) - The Landscape of Business Sales

(09:00) - Planning Your Business Exit Strategy

(16:04) - Financial Considerations for Business Owners

(21:47) - Building Your Dream Team for Business Transition

(23:39) - The Importance of Accurate Valuation

(27:24) - The Four C's: Enhancing Business Value

(29:56) - Common Deal Killers and How to Avoid Them

(37:16) - Preparing for the Next Steps: Structuring the Deal

Key Topics Discussed:

Financial Fortitude, Genesis Wealth Planning, Brady Hemmerle, Michael Acosta, Financial Wellness, Wealth Building, Financial Psychology, Financial Advisor, Finance Coach, Student Loan Debt, Finance Guidance for High Earners, Business Owner Finances, Hiring a Financial Advisor, Student Loan Forgiveness, Tax Strategies, Retirement Planning, Investing Strategies, Stock Market Crashes, Millennial Financial Planning, Gen Z Money Struggles, Overcoming Financial Stress, Building Financial Confidence, Modern Financial Goals Strategy, buying or selling a business, exit planning, business exit strategy, financial plan, sell your business, buy a business, entrepreneur, M&A advisor, Murphy Business Sales, business valuation, financial reporting, customer capital, intellectual property, personal financial planning, business owner, Justin Sandridge

Mentions:

Justin’s website: https://www.murphybusiness.com and https://www.sellcharlottebusiness.com

Justin’s LinkedIn: https://www.linkedin.com/in/justinsandridge/

Website: https://www.genesiswealthplanning.com/

Michael’s LinkedIn: https://www.linkedin.com/in/michaelracosta/

Brady’s LinkedIn: https://www.linkedin.com/in/brady-hemmerle-cfp%C2%AE-75043013a/

Financial Health Checkup: https://www.livingbalancesheet.com/lbsVision/lite/michaelracosta

Sources: "2023 National State of Owner Readiness Report" by the Exit Planning Institute

Are You Down with #EWB, Yeah You Know Me! - E13

Thu, 09 Jan 2025 00:00:00 -0400

Michael and Brady dive into the concept of becoming an Extraordinary Wealth Builder (EWB). They discuss the importance of saving intentionally and breaking down the steps to achieve financial greatness. This episode highlights the personal savings landscape in America, presents a comparison between average savers and EWBs, and offers practical steps to enhance savings strategies. Key topics covered include setting savings targets, creating awareness, automating savings, diversifying savings across short, mid, and long-term goals, and emphasizing the importance of purposeful financial planning.

Key Takeaways:

• What does it mean to be an extraordinary wealth builder (EWB) rather than just an average saver?

• How can automating and diversifying your savings contribute to financial success?

• Why is it important to focus on the amount you save rather than just relying on market returns for financial growth?

Key Timestamps:

(00:00) - The Basics of Becoming an EWB

(01:27) - Challenges and Common Questions

(03:02) - Current Savings Landscape

(05:50) - Setting Higher Savings Goals

(09:50) - Practical Steps to Save More

(15:57) - Short, Mid, and Long-Term Savings

(25:35) - Comparing Average vs. Extraordinary Savers

Key Topics Discussed:

Financial Fortitude, Genesis Wealth Planning, Brady Hemmerle, Michael Acosta, financial wellness, wealth building, financial psychology, financial advisor, finance therapist, student loan debt, finance guidance for high earners, business owner finances, extraordinary wealth builder(EWB), Bureau of Economic Analysis, emergency fund, balance sheet, high yield savings accounts, financial diet plan, tax deferred retirement account, Roth IRA, 401k, 403b, traditional IRA, non retirement investment account, social security, CFP Board, return on investment, early withdrawal penalties

Mentions:

Website: https://www.genesiswealthplanning.com/

Michael’s LinkedIn: https://www.linkedin.com/in/michaelracosta/

Brady’s LinkedIn: https://www.linkedin.com/in/brady-hemmerle-cfp%C2%AE-75043013a/

Financial Health Checkup: https://www.livingbalancesheet.com/lbsVision/lite/michaelracosta

This podcast is for informational purposes only and is not to be construed as tax, legal, or investment advice. Although the information has been gathered from sources believed to be reliable, please note that individual situations can vary. Therefore, the information should be relied upon only when coordinated with individual professional advice. Guest speakers and their firms are not affiliated with or endorsed by PAS, Guardian, or (INSERT DBA or AGENCY NAME) and opinions stated are their own. Guardian, its subsidiaries, agents, and employees do not provide tax, legal, or accounting advice. Consult your tax, legal, or accounting professional regarding your individual situation. All investments and investment strategies contain risk and may lose value.

Michael Acosta is a Registered Representative and Financial Advisor of Park Avenue Securities LLC (PAS). OSJ: 6115 PARK SOUTH DRIVE, SUITE 200, CHARLOTTE NC, 28210, 704-5528507. Securities products and advisory services offered through PAS, member FINRA, SIPC. Financial Representative of The Guardian Life Insurance Company of America® (Guardian), New York, NY. PAS is a wholly owned subsidiary of Guardian. (INSERT DBA or AGENCY NAME) is not an affiliate or subsidiary of PAS or Guardian. CA Insurance License # 0M50974. 6991809.8. Expiration 12/26.

Leveraging Good Debt and Avoiding the Rest - E12

Thu, 02 Jan 2025 00:00:00 -0400

Michael and Brady dive into the intricacies of debt management and its impact on financial well-being. They explore the concept of good debt versus bad debt, discussing common types such as mortgages, student loans, business loans, and consumer debt. The episode emphasizes the importance of using debt as a strategic tool to advance one's financial situation while highlighting the risks and emotional challenges associated with poor debt management. Listeners are provided with practical tips on handling debt wisely, the benefits of certain types of debts, and methods to avoid high-interest consumer debt. The episode aims to empower listeners to make informed decisions about taking on and managing debt to achieve their financial goals.

Key Takeaways:

• How can individuals leverage good debt to build their financial future while avoiding the pitfalls of bad debt?

• What strategies can be employed to manage and eliminate high-interest consumer debts effectively?

• In what ways can mortgage loans, student loans, and business loans be utilized as tools to enhance financial growth and stability?

Key Timestamps:

(00:00) - Emotional Impact of Debt

(04:24) - Personal Experiences with Debt

(07:57) - Current Debt Landscape in the US

(11:16) - Good Debt vs. Bad Debt

(18:33) - Leveraging Debt for Financial Growth

(24:11) - Student Loans: A Deeper Dive

(28:21) - Leveraging Debt as a Tool

(28:34) - Business Loans: Purpose and Pitfalls

(30:53) - Home Equity Line of Credit (HELOC)

(33:18) - Securities Backed Line of Credit (SBLOC)

(37:25) - Managing Good Debt Wisely

(39:19) - Avoiding Bad Debt

(40:00) - Practical Tips for Debt Management

(47:13) - Utility of Debt

(50:50) - Key Indicators of Debt Management

Key Topics Discussed:

Mentions:

Website: https://www.genesiswealthplanning.com/

Michael’s LinkedIn: https://www.linkedin.com/in/michaelracosta/

Brady’s LinkedIn: https://www.linkedin.com/in/brady-hemmerle-cfp%C2%AE-75043013a/

Financial Health Checkup: https://www.livingbalancesheet.com/lbsVision/lite/michaelracosta

This podcast is for informational purposes only and is not to be construed as tax, legal, or investment advice. Although the information has been gathered from sources believed to be reliable, please note that individual situations can vary. Therefore, the information should be relied upon only when coordinated with individual professional advice. Guest speakers and their firms are not affiliated with or endorsed by PAS, Guardian, or (INSERT DBA or AGENCY NAME) and opinions stated are their own. Guardian, its subsidiaries, agents, and employees do not provide tax, legal, or accounting advice. Consult your tax, legal, or accounting professional regarding your individual situation. All investments and investment strategies contain risk and may lose value.

Michael Acosta is a Registered Representative and Financial Advisor of Park Avenue Securities LLC (PAS). OSJ: 6115 PARK SOUTH DRIVE, SUITE 200, CHARLOTTE NC, 28210, 704-5528507. Securities products and advisory services offered through PAS, member FINRA, SIPC. Financial Representative of The Guardian Life Insurance Company of America® (Guardian), New York, NY. PAS is a wholly owned subsidiary of Guardian. (INSERT DBA or AGENCY NAME) is not an affiliate or subsidiary of PAS or Guardian. CA Insurance License # 0M50974. 6991809.5. Expiration 11/26.

Be SMART and Set Financial Goals that Stick - E11

Thu, 26 Dec 2024 00:00:00 -0400

Kick off the New Year by exploring the power of SMART goals—specific, measurable, achievable, relevant, and time-bound—in achieving your financial ambitions for 2025. Michael and Brady provide practical examples and actionable tips to help you stay organized, prioritize effectively, and remain focused despite life’s inevitable distractions. The conversation also dives deep into personal anecdotes and client stories, emphasizing the importance of relevance and alignment in your financial planning journey. Whether you aim to boost savings, pay off debt, or plan for major life events, this episode provides the guidance and tools you need to succeed.

Key Takeaways:

• What is the SMART framework, and how can I apply it to my financial goals?

• What tools can I use to measure my progress towards financial goals effectively?

• Why is it important to identify the “why” behind my goals, and how can I effectively do that?

• How can I balance personal, professional, and financial goals effectively?

Key Timestamps:

(00:00) – Setting SMART Goals for 2025

(01:22) – Goal Planning in the Acosta Household

(02:20) – The Importance of Specific Goals

(03:28) – Practical Tips for Goal Setting

(05:39) – The Role of Measurables in Goal Setting

(06:18) – Balancing Personal, Professional, and Financial Goals

(19:00) – Tools for Measuring Progress

(20:21) – Budgeting and Cash Flow Management

(26:22) – Relevance: Understanding the 'Why' Behind Goals

(33:35) – Time-Bound Goals: Creating Realistic Deadlines

(39:02) – Common Pitfalls in Goal Setting

Key Topics Discussed:

Mentions:

Website: https://www.genesiswealthplanning.com/

Michael’s LinkedIn: https://www.linkedin.com/in/michaelracosta/

Brady’s LinkedIn: https://www.linkedin.com/in/brady-hemmerle-cfp%C2%AE-75043013a/

Financial Health Checkup: https://www.livingbalancesheet.com/lbsVision/lite/michaelracosta

This podcast is for informational purposes only and is not to be construed as tax, legal, or investment advice. Although the information has been gathered from sources believed to be reliable, please note that individual situations can vary. Therefore, the information should be relied upon only when coordinated with individual professional advice. Guest speakers and their firms are not affiliated with or endorsed by PAS, Guardian, or (INSERT DBA or AGENCY NAME) and opinions stated are their own. Guardian, its subsidiaries, agents, and employees do not provide tax, legal, or accounting advice. Consult your tax, legal, or accounting professional regarding your individual situation. All investments and investment strategies contain risk and may lose value.

Michael Acosta is a Registered Representative and Financial Advisor of Park Avenue Securities LLC (PAS). OSJ: 6115 PARK SOUTH DRIVE, SUITE 200, CHARLOTTE NC, 28210, 704-5528507. Securities products and advisory services offered through PAS, member FINRA, SIPC. Financial Representative of The Guardian Life Insurance Company of America® (Guardian), New York, NY. PAS is a wholly owned subsidiary of Guardian. (INSERT DBA or AGENCY NAME) is not an affiliate or subsidiary of PAS or Guardian. CA Insurance License # 0M50974. 6991809.6. Expiration 11/26.

Spending with Purpose: How to Curb Lifestyle Creep - E10

Thu, 19 Dec 2024 00:00:00 -0400

Michael and Brady discuss the concept of lifestyle inflation, where increased income leads to increased spending, often hindering long-term financial goals. They explore how lifestyle creep happens, how to recognize it, and strategies to spend with purpose. By focusing on aligning spending with what truly matters, they propose a shift towards automation and disciplined financial planning. They highlight real-life examples, emphasize the importance of financial literacy, and offer practical solutions for maintaining financial health while enjoying life. This episode is essential for high earners, families, and business owners looking to strengthen their financial fortitude.

Key Takeaways:

• How does lifestyle creep happen?

• What are the strategies for aligning purpose with spending?

• What are the impacts of lifestyle inflation?

• How can we automate savings?

Key Timestamps:

(00:00) - Lifestyle Inflation

(01:33) - Defining Lifestyle Creep

(02:35) - Real-Life Examples of Lifestyle Inflation

(08:54) - Behavioral Aspects of Lifestyle Inflation

(13:04) - Traditional Approaches to Curbing Lifestyle Creep

(16:48) - Reengineering Spending Pathways

(20:51) - Importance of Paying Yourself First

(21:45) - Setting Up a Wealth Building Account (WBA)

(22:51) - Automating Your Savings for Success

(26:40) - Case Study: The Impact of Lifestyle Creep

(29:38) - Purpose-Driven Financial Planning

(35:27) - Power of Accountability

Key Topics Discussed:

Mentions:

Website: https://www.genesiswealthplanning.com/

Michael’s LinkedIn: https://www.linkedin.com/in/michaelracosta/

Brady’s LinkedIn: https://www.linkedin.com/in/brady-hemmerle-cfp%C2%AE-75043013a/

Financial Health Checkup: https://www.livingbalancesheet.com/lbsVision/lite/michaelracosta

This podcast is for informational purposes only and is not to be construed as tax, legal, or investment advice. Although the information has been gathered from sources believed to be reliable, please note that individual situations can vary. Therefore, the information should be relied upon only when coordinated with individual professional advice. Guest speakers and their firms are not affiliated with or endorsed by PAS, Guardian, or (INSERT DBA or AGENCY NAME) and opinions stated are their own. Guardian, its subsidiaries, agents, and employees do not provide tax, legal, or accounting advice. Consult your tax, legal, or accounting professional regarding your individual situation. All investments and investment strategies contain risk and may lose value.

Michael Acosta is a Registered Representative and Financial Advisor of Park Avenue Securities LLC (PAS). OSJ: 6115 PARK SOUTH DRIVE, SUITE 200, CHARLOTTE NC, 28210, 704-5528507. Securities products and advisory services offered through PAS, member FINRA, SIPC. Financial Representative of The Guardian Life Insurance Company of America® (Guardian), New York, NY. PAS is a wholly owned subsidiary of Guardian. (INSERT DBA or AGENCY NAME) is not an affiliate or subsidiary of PAS or Guardian. CA Insurance License # 0M50974. 7237198.1 Expiration 11/26.

Roth Conversions: Smart Year-End Strategies to Reduce Your Future Tax Burden - E9

Thu, 12 Dec 2024 00:00:00 -0400

Michael and Brady delve into the important topic of Roth conversions and their potential to revolutionize your retirement strategy. They provide a comprehensive breakdown of the differences between traditional IRAs and Roth IRAs, explain how Roth conversions work, and discuss the tax implications involved. The segment also covers when it makes sense to convert, the benefits and risks of this financial strategy, and offers practical scenarios to illustrate the impact. Listeners are guided through each step with real-life examples and tips on avoiding common pitfalls.

Key Takeaways:

• What are the key benefits of conducting Roth conversions as a part of long-term financial planning?

• How can different life stages and income levels impact your decision to perform a Roth conversion?

• What are some common mistakes to avoid when considering or executing a Roth conversion?

Key Timestamps:

(00:00) -Traditional vs. Roth IRAs

(04:19) - How Roth Conversions Work

(05:19) - The Evolution and Popularity of Roth IRAs

(07:14) - Tax Implications and Strategies

(16:56) - Key Considerations for Roth Conversions

(18:20) - Benefits of Roth Conversions

(23:25) - Strategies to Maximize Roth Conversions

(35:06) - Common Mistakes to Avoid

Key Topics Discussed:

Mentions:

Website: https://www.genesiswealthplanning.com/

Michael’s LinkedIn: https://www.linkedin.com/in/michaelracosta/

Brady’s LinkedIn: https://www.linkedin.com/in/brady-hemmerle-cfp%C2%AE-75043013a/

Financial Health Checkup: https://www.livingbalancesheet.com/lbsVision/lite/michaelracosta

This podcast is for informational purposes only and is not to be construed as tax, legal, or investment advice. Although the information has been gathered from sources believed to be reliable, please note that individual situations can vary. Therefore, the information should be relied upon only when coordinated with individual professional advice. Guest speakers and their firms are not affiliated with or endorsed by PAS, Guardian, or (INSERT DBA or AGENCY NAME) and opinions stated are their own. Guardian, its subsidiaries, agents, and employees do not provide tax, legal, or accounting advice. Consult your tax, legal, or accounting professional regarding your individual situation. All investments and investment strategies contain risk and may lose value.

Michael Acosta is a Registered Representative and Financial Advisor of Park Avenue Securities LLC (PAS). OSJ: 6115 PARK SOUTH DRIVE, SUITE 200, CHARLOTTE NC, 28210, 704-5528507. Securities products and advisory services offered through PAS, member FINRA, SIPC. Financial Representative of The Guardian Life Insurance Company of America® (Guardian), New York, NY. PAS is a wholly owned subsidiary of Guardian. (INSERT DBA or AGENCY NAME) is not an affiliate or subsidiary of PAS or Guardian. CA Insurance License # 0M50974. 6991809.7. Expiration 12/26.

Buy-Sell: A Must-Have Legal Agreement to Safeguard Your Business | Shawn Garrett - E8

Thu, 05 Dec 2024 00:00:00 -0400

Brady and Michael talk with Shawn Garrett, an experienced business law attorney, about the crucial importance of buy-sell agreements in ensuring business continuity and protecting business interests. The discussion delves into scenarios such as death, divorce, disability, disagreement and default that necessitate such agreements, and the significance of proper business valuation and funding. Shawn explains different types of buy-sell agreements, including cross-purchase agreements, and stresses the role of professional planning and expert consultation. Real-life examples underscore the potential pitfalls of unfunded agreements and the benefits of integrating life and disability insurance into business strategies. This episode provides invaluable insights and advice for business owners on drafting, updating, and properly structuring buy-sell agreements to avoid operational and financial chaos.

Key Takeaways:

• Why is it crucial for business owners to have a buy-sell agreement, and what are its key components?

• What are the common pitfalls business owners face with buy-sell agreements and how can they be avoided?

• How do funding and valuation play a role in the effectiveness of a buy-sell agreement?

Key Timestamps:

(00:00) - Meet Shawn Garrett

(00:58) - Understanding Buy-Sell Agreements

(02:52) - The Five D's: Key Triggers for Buy-Sell Agreements

(04:09) - When to Draft a Buy-Sell Agreement

(12:23) - Types of Buy-Sell Agreements

(16:53) - Funding the Buy-Sell Agreements

(20:43) - Real-Life Scenarios: Divorce and Business Ownership

(23:45) - The Importance of Buy-Sell Agreements in Business Continuity

(33:44) - Modifying Agreements: When and Why

Key Topics Discussed:

Mentions:

Website: https://www.genesiswealthplanning.com/

Michael’s LinkedIn: https://www.linkedin.com/in/michaelracosta/

Brady’s LinkedIn: https://www.linkedin.com/in/brady-hemmerle-cfp%C2%AE-75043013a/

Financial Health Checkup: https://www.livingbalancesheet.com/lbsVision/lite/michaelracosta

This podcast is for informational purposes only and is not to be construed as tax, legal, or investment advice. Although the information has been gathered from sources believed to be reliable, please note that individual situations can vary. Therefore, the information should be relied upon only when coordinated with individual professional advice. Guest speakers and their firms are not affiliated with or endorsed by PAS, Guardian, or (INSERT DBA or AGENCY NAME) and opinions stated are their own. Guardian, its subsidiaries, agents, and employees do not provide tax, legal, or accounting advice. Consult your tax, legal, or accounting professional regarding your individual situation. All investments and investment strategies contain risk and may lose value.

Michael Acosta is a Registered Representative and Financial Advisor of Park Avenue Securities LLC (PAS). OSJ: 6115 PARK SOUTH DRIVE, SUITE 200, CHARLOTTE NC, 28210, 704-5528507. Securities products and advisory services offered through PAS, member FINRA, SIPC. Financial Representative of The Guardian Life Insurance Company of America® (Guardian), New York, NY. PAS is a wholly owned subsidiary of Guardian. (INSERT DBA or AGENCY NAME) is not an affiliate or subsidiary of PAS or Guardian. CA Insurance License # 0M50974. 6991809.4 Exp. 11/26.

When the Math Doesn’t Matter: Rationale and Reasonable - E7

Thu, 28 Nov 2024 00:00:00 -0400

Life throws us curveballs. From unexpected expenses to sudden health issues, Michael and Brady discuss how such events can disrupt financial plans. They emphasize the importance of making purpose-driven decisions rather than solely relying on math. The episode features a real-life case study of a 44-year-old single individual who faced a major health scare, forcing them to rethink their financial strategy. Michael and Brady advocate for a flexible, proactive approach to financial planning that aligns with personal goals and life circumstances, underscoring the significance of adapting plans to maintain quality of life.

Key Takeaways:

• What does financial success look like for you?

• How can you build flexibility into your financial plan?

• Are you prepared for unexpected life events?

Key Timestamps:

(00:00) - When the Math Doesn't Add Up

(02:23) - Rational vs. Reasonable

(05:56) - Case Study: Navigating a Health Scare

(11:57) - Flexible Financial Planning

(24:25) - Preparing for Life's Curveballs

(30:49) - Conclusion and Final Thoughts

Key Topics Discussed:

Mentions:

Website: https://www.genesiswealthplanning.com/

Michael’s LinkedIn: https://www.linkedin.com/in/michaelracosta/

Brady’s LinkedIn: https://www.linkedin.com/in/brady-hemmerle-cfp%C2%AE-75043013a/

Financial Health Checkup: https://www.livingbalancesheet.com/lbsVision/lite/michaelracosta

This podcast is for informational purposes only and is not to be construed as tax, legal, or investment advice. Although the information has been gathered from sources believed to be reliable, please note that individual situations can vary. Therefore, the information should be relied upon only when coordinated with individual professional advice. Guest speakers and their firms are not affiliated with or endorsed by PAS, Guardian, or (INSERT DBA or AGENCY NAME) and opinions stated are their own. Guardian, its subsidiaries, agents, and employees do not provide tax, legal, or accounting advice. Consult your tax, legal, or accounting professional regarding your individual situation. All investments and investment strategies contain risk and may lose value.

Michael Acosta is a Registered Representative and Financial Advisor of Park Avenue Securities LLC (PAS). OSJ: 6115 PARK SOUTH DRIVE, SUITE 200, CHARLOTTE NC, 28210, 704-5528507. Securities products and advisory services offered through PAS, member FINRA, SIPC. Financial Representative of The Guardian Life Insurance Company of America® (Guardian), New York, NY. PAS is a wholly owned subsidiary of Guardian. (INSERT DBA or AGENCY NAME) is not an affiliate or subsidiary of PAS or Guardian. CA Insurance License # 0M50974. 6991809.2 Exp. 10-26

Protecting Your Biggest and Greatest Asset: Understanding Long Term Disability Insurance - E6

Thu, 21 Nov 2024 00:00:00 -0400

Michael Acosta and Brady Hemmerle discuss the critical importance of long-term disability income protection insurance. They break down what it is, why you need it, and how it can safeguard your financial future when unexpected events occur. Emphasizing the importance of protecting your ability to earn a living, the episode explores various aspects of long-term disability insurance, including group coverage limitations, personal policies, and key features like partial disability benefits, cost of living adjustments, and future increase options. Michael and Brady also guide listeners on where to get personal policies and how to design them effectively to ensure optimal financial protection.

Key Takeaways:

• What’re some of the common misconceptions regarding long term disability?

• How will you know which long term disability policy fits your needs?

• An example of how long term disability can actually save you millions of dollars

Key Timestamps:

(00:00) - The Importance of Protecting Your Income

(01:14) - Understanding Long Term Disability Insurance

(03:44) - Common Misconceptions and Realities

(05:37) - Where to Get Coverage and How Much You Need

(09:32) - Designing Your Disability Insurance Policy

(24:47) - Additional Features and Customization

(29:06) - Case Study Example

Key Topics Discussed:

Mentions:

Website: https://www.genesiswealthplanning.com/

Michael’s LinkedIn: https://www.linkedin.com/in/michaelracosta/

Brady’s LinkedIn: https://www.linkedin.com/in/brady-hemmerle-cfp%C2%AE-75043013a/

Financial Health Checkup: https://www.livingbalancesheet.com/lbsVision/lite/michaelracosta

This podcast is for informational purposes only and is not to be construed as tax, legal, or investment advice. Although the information has been gathered from sources believed to be reliable, please note that individual situations can vary. Therefore, the information should be relied upon only when coordinated with individual professional advice. Guest speakers and their firms are not affiliated with or endorsed by PAS, Guardian, or (INSERT DBA or AGENCY NAME) and opinions stated are their own. Guardian, its subsidiaries, agents, and employees do not provide tax, legal, or accounting advice. Consult your tax, legal, or accounting professional regarding your individual situation. All investments and investment strategies contain risk and may lose value.

Michael Acosta is a Registered Representative and Financial Advisor of Park Avenue Securities LLC (PAS). OSJ: 6115 PARK SOUTH DRIVE, SUITE 200, CHARLOTTE NC, 28210, 704-5528507. Securities products and advisory services offered through PAS, member FINRA, SIPC. Financial Representative of The Guardian Life Insurance Company of America® (Guardian), New York, NY. PAS is a wholly owned subsidiary of Guardian. (INSERT DBA or AGENCY NAME) is not an affiliate or subsidiary of PAS or Guardian. CA Insurance License # 0M50974. 7012070.1 Exp. 10-26

Who to Trust? Are You Working With the Right Financial Advisor - E5

Thu, 14 Nov 2024 00:00:00 -0400

Michael and Brady discuss how technology and industry changes have broadened access to financial advice, making it more accessible beyond just wealthy individuals. The episode delves into the challenges of selecting the right financial advisor, examining where Americans currently get their financial advice, and the implications of various advisory models (fee-only, fee-based, commission). Key topics include the importance of finding a suitable advisor, understanding compensation structures, and the roles played by different types of financial institutions. The episode concludes with actionable advice for individuals at different stages of their financial journey on finding the best professional guidance for their needs.

Key Takeaways:

• Who should seek financial advice?

• The surprising place most Americans get their financial advice

• Why a certain advisory model may or may not be suitable for you?

Key Timestamps:

(00:00) - The Evolution of Financial Advice

(01:17) - The Challenge of Choosing the Right Advisor

(04:50) - Survey Insights: Where Americans Get Financial Advice

(15:42) - Understanding Different Types of Financial Advisors

(24:44) - The Role of Technology and Robo-Advisors

(27:02) - Choosing the Right Financial Partners

Key Topics Discussed:

Mentions:

Website: https://www.genesiswealthplanning.com/

Michael’s LinkedIn: https://www.linkedin.com/in/michaelracosta/

Brady’s LinkedIn: https://www.linkedin.com/in/brady-hemmerle-cfp%C2%AE-75043013a/

Financial Health Checkup: https://www.livingbalancesheet.com/lbsVision/lite/michaelracosta

This podcast is for informational purposes only and is not to be construed as tax, legal, or investment advice. Although the information has been gathered from sources believed to be reliable, please note that individual situations can vary. Therefore, the information should be relied upon only when coordinated with individual professional advice. Guest speakers and their firms are not affiliated with or endorsed by PAS, Guardian, or (INSERT DBA or AGENCY NAME) and opinions stated are their own. Guardian, its subsidiaries, agents, and employees do not provide tax, legal, or accounting advice. Consult your tax, legal, or accounting professional regarding your individual situation. All investments and investment strategies contain risk and may lose value.

Michael Acosta is a Registered Representative and Financial Advisor of Park Avenue Securities LLC (PAS). OSJ: 6115 PARK SOUTH DRIVE, SUITE 200, CHARLOTTE NC, 28210, 704-5528507. Securities products and advisory services offered through PAS, member FINRA, SIPC. Financial Representative of The Guardian Life Insurance Company of America® (Guardian), New York, NY. PAS is a wholly owned subsidiary of Guardian. (INSERT DBA or AGENCY NAME) is not an affiliate or subsidiary of PAS or Guardian. CA Insurance License # 0M50974. 6992075.1 Exp. 10-26

Maximizing Student Loan Forgiveness as a Graduate Student - E4

Thu, 07 Nov 2024 00:00:00 -0400

Michael and Brady discuss the significant burden of student loans on Americans and delve into current strategies for managing this debt while still achieving personal and financial goals. They explore the misconceptions surrounding student loans, differences between federal and private loans, and the importance of utilizing loan forgiveness programs. The episode also provides a comprehensive understanding of recent legislative changes affecting the SAVE plan and its implications on borrowers. Listeners are encouraged to manage student loans strategically and consult with certified professionals to optimize their financial health.

Key Takeaways:

• Is reducing your monthly minimum required payment for your student loans possible?

• How is the student loan legislature going to change in the future?

• What advantages does working with an advisor offer in terms of minimizing your student loans?

Key Timestamps:

(00:00) - The Evolving Landscape of Student Loans

(05:54) - Federal vs. Private Student Loans

(10:01) - Student Loan Debt Across Professions

(21:51) - Borrower Considerations

(25:24) - Student Loan Forgiveness

(33:00) - Understanding Federal Student Loan Interest

(36:45) - Income-Driven Repayment Plans

(43:30) - Case Study: Optimal Repayment Strategies

(54:08) - Legislative Changes in the SAVE Plan

(1:01:00) - What Borrowers Should Be Doing

Key Topics Discussed:

Mentions:

Website: https://www.genesiswealthplanning.com/

Michael’s LinkedIn: https://www.linkedin.com/in/michaelracosta/

Brady’s LinkedIn: https://www.linkedin.com/in/brady-hemmerle-cfp%C2%AE-75043013a/

https://www.livingbalancesheet.com/lbsVision/lite/michaelracosta

This podcast is for informational purposes only and is not to be construed as tax, legal, or investment advice. Although the information has been gathered from sources believed to be reliable, please note that individual situations can vary. Therefore, the information should be relied upon only when coordinated with individual professional advice. Guest speakers and their firms are not affiliated with or endorsed by PAS, Guardian, or (INSERT DBA or AGENCY NAME) and opinions stated are their own. Guardian, its subsidiaries, agents, and employees do not provide tax, legal, or accounting advice. Consult your tax, legal, or accounting professional regarding your individual situation. All investments and investment strategies contain risk and may lose value.

Michael Acosta is a Registered Representative and Financial Advisor of Park Avenue Securities LLC (PAS). OSJ: 6115 PARK SOUTH DRIVE, SUITE 200, CHARLOTTE NC, 28210, 704-5528507. Securities products and advisory services offered through PAS, member FINRA, SIPC. Financial Representative of The Guardian Life Insurance Company of America® (Guardian), New York, NY. PAS is a wholly owned subsidiary of Guardian. (INSERT DBA or AGENCY NAME) is not an affiliate or subsidiary of PAS or Guardian. CA Insurance License # 0M50974. 6991809.1 Exp. 10-26

Open Enrollment Benefits That Do and Don’t Matter - E3

Thu, 31 Oct 2024 23:45:00 -0400

Key Takeaways:

• What factors should you consider when choosing between different types of healthcare plans during open enrollment?

• How can enrolling in tax-advantaged accounts like FSAs and HSAs benefit you financially in the short and long term?

• What are the essential employee benefits to prioritize during open enrollment, and how can you maximize their advantages?

Key Timestamps:

(00:00) - Understanding Open Enrollment

(03:15) - Types of Benefits and Considerations

(05:12) - Triggering Life Events and Adjustments

(06:21) - Core vs. Ancillary Benefits

(07:29) - Medical Insurance Options

(15:52) - Flexible Spending Accounts (FSA) vs. Health Savings Accounts (HSA)

(18:44) - Understanding HSA Tax Benefits

(24:38) - The Importance of Disability Insurance

(26:51) - Group Life Insurance Considerations

(30:17) - Retirement Plan Options and Strategies

(35:31) - Leveraging Legal Benefits

Key Topics Discussed:

Mentions:

Website: https://www.genesiswealthplanning.com/

Michael’s LinkedIn: https://www.linkedin.com/in/michaelracosta/

Brady’s LinkedIn: https://www.linkedin.com/in/brady-hemmerle-cfp%C2%AE-75043013a/

Financial Health Checkup: https://www.livingbalancesheet.com/lbsVision/lite/michaelracosta

This podcast is for informational purposes only and is not to be construed as tax, legal, or investment advice. Although the information has been gathered from sources believed to be reliable, please note that individual situations can vary. Therefore, the information should be relied upon only when coordinated with individual professional advice. Guest speakers and their firms are not affiliated with or endorsed by PAS, Guardian, or (INSERT DBA or AGENCY NAME) and opinions stated are their own. Guardian, its subsidiaries, agents, and employees do not provide tax, legal, or accounting advice. Consult your tax, legal, or accounting professional regarding your individual situation. All investments and investment strategies contain risk and may lose value.

Michael Acosta is a Registered Representative and Financial Advisor of Park Avenue Securities LLC (PAS). OSJ: 6115 PARK SOUTH DRIVE, SUITE 200, CHARLOTTE NC, 28210, 704-5528507. Securities products and advisory services offered through PAS, member FINRA, SIPC. Financial Representative of The Guardian Life Insurance Company of America® (Guardian), New York, NY. PAS is a wholly owned subsidiary of Guardian. (INSERT DBA or AGENCY NAME) is not an affiliate or subsidiary of PAS or Guardian. CA Insurance License # 0M50974. 6991809.3 Exp. 11/26.

5 Financial To-Dos Before Saying I Do - E2

Thu, 24 Oct 2024 00:00:00 -0400

Michael and Brady dive into the crucial steps couples should take after getting married. They emphasize the importance of communication, setting joint goals, consolidating finances, checking one's financial immune system, and not being afraid to seek professional help. Drawing from personal and client experiences, they highlight practical strategies for merging finances, managing cash flow, and ensuring financial stability in marriage. The discussion also touches on topics like estate planning, prenuptial agreements, financial discipline, and teaching children about delayed gratification. This episode is a comprehensive guide for couples looking to strengthen their financial bond and fortitude after tying the knot.

Key Takeaways:

• 45% of divorces occur because of money problems, but is it avoidable?

• Overcoming scarcity vs abundance mindset differences between partners

• Understanding the cost of raising a money smart kid

• The top 5 financial to-dos before saying I do

Key Timestamps:

(00:00) - Personal Financial Planning in Relationships

(07:49) - Challenges in Merging Finances

(10:44) - Balancing Individual and Joint Financial Goals

(12:44) - Financial Infidelity and Divorce

(17:46) - Managing Household Finances Together

(21:55) - Scarcity vs. Abundance Mindset

(27:33) - Spending Thresholds in Relationships

(30:42) - Teaching Kids Delayed Gratification

(36:25) - Top Five Financial To-Dos Before Marriage

(42:16) - Joint Accounts and Budgets

(45:54) - Financial Immune System Check-Up

(49:59) - Prenups and Estate Planning

Key Topics Discussed:

Mentions:

Website: https://www.genesiswealthplanning.com/

Michael’s LinkedIn: https://www.linkedin.com/in/michaelracosta/

Brady’s LinkedIn: https://www.linkedin.com/in/brady-hemmerle-cfp%C2%AE-75043013a/

Financial Health Checkup: https://www.livingbalancesheet.com/lbsVision/lite/michaelracosta

This podcast is for informational purposes only and is not to be construed as tax, legal, or investment advice. Although the information has been gathered from sources believed to be reliable, please note that individual situations can vary. Therefore, the information should be relied upon only when coordinated with individual professional advice. Guest speakers and their firms are not affiliated with or endorsed by PAS, Guardian, or (INSERT DBA or AGENCY NAME) and opinions stated are their own. Guardian, its subsidiaries, agents, and employees do not provide tax, legal, or accounting advice. Consult your tax, legal, or accounting professional regarding your individual situation. All investments and investment strategies contain risk and may lose value.

Michael Acosta is a Registered Representative and Financial Advisor of Park Avenue Securities LLC (PAS). OSJ: 6115 PARK SOUTH DRIVE, SUITE 200, CHARLOTTE NC, 28210, 704-5528507. Securities products and advisory services offered through PAS, member FINRA, SIPC. Financial Representative of The Guardian Life Insurance Company of America® (Guardian), New York, NY. PAS is a wholly owned subsidiary of Guardian. (INSERT DBA or AGENCY NAME) is not an affiliate or subsidiary of PAS or Guardian. CA Insurance License # 0M50974. 7095145.1 Exp. 10-26

Don’t Hire a Financial Advisor Until You Hear This - E1

Thu, 24 Oct 2024 00:00:00 -0400

Brady and Michael introduce themselves and share the vision for their new show, Financial Fortitude. They discuss their personal journeys into the financial industry, the importance of understanding personal motivations ('whys'), and how these elements drive their work with clients. The episode also explores the value of financial advisors, how to select the right one, key factors to consider, and the impact of life changes on financial planning. Key takeaways include the significance of disciplined financial habits, the role of behavioral finance, and the importance of establishing strong advisor-client relationships.

Key Takeaways:

• What do your financial advisor and therapist have in common?

• How does financial advice go beyond the spreadsheet?

• What does financial accountability look like? It’s not what you think

• What’re some life events that warrant reaching out to a financial advisor?

• Brady thinks you can grow a six pack and he’s probably right

Key Timestamps:

(00:00) - New Podcast, Who This?

(01:42) - Michael’s Why

(05:12) - Brady’s Why

(07:52) - Money Can Be Stressful, Here’s What to Do About It

(10:37) - What Does a Financial Advisor Do?

(12:57) - What is Financial Fortitude?

(14:47) - Define Your Financial Why with One Question

(16:37) - Your First Date with Your Financial Advisor

(19:23) - What Does Financial Accountability Look Like?

(23:20) - Understanding the Psychology Behind Financial Decisions

(25:00) - Why Hire a Financial Advisor?

(26:37) - Life Events that Warrant Working with an Advisor

(29:13) - Key Questions to Ask Your Financial Advisor

(32:55) - The Importance of Communication and Expectations

(39:39) - Why We Do What We Do

Key Topics Discussed:

Mentions:

Website: https://www.genesiswealthplanning.com/

Michael’s LinkedIn: https://www.linkedin.com/in/michaelracosta/

Brady’s LinkedIn: https://www.linkedin.com/in/brady-hemmerle-cfp%C2%AE-75043013a/

This podcast is for informational purposes only and is not to be construed as tax, legal, or investment advice. Although the information has been gathered from sources believed to be reliable, please note that individual situations can vary. Therefore, the information should be relied upon only when coordinated with individual professional advice. Guest speakers and their firms are not affiliated with or endorsed by PAS, Guardian, or (INSERT DBA or AGENCY NAME) and opinions stated are their own. Guardian, its subsidiaries, agents, and employees do not provide tax, legal, or accounting advice. Consult your tax, legal, or accounting professional regarding your individual situation. All investments and investment strategies contain risk and may lose value.

Michael Acosta is a Registered Representative and Financial Advisor of Park Avenue Securities LLC (PAS). OSJ: 6115 PARK SOUTH DRIVE, SUITE 200, CHARLOTTE NC, 28210, 704-5528507. Securities products and advisory services offered through PAS, member FINRA, SIPC. Financial Representative of The Guardian Life Insurance Company of America® (Guardian), New York, NY. PAS is a wholly owned subsidiary of Guardian. (INSERT DBA or AGENCY NAME) is not an affiliate or subsidiary of PAS or Guardian. CA Insurance License # 0M50974. 7095145.2 Exp. 10-26

Welcome to Financial Fortitude

Fri, 16 Aug 2024 05:00:00 -0400

Financial Fortitude is a podcast for high-income earning professionals facing complex financial issues/challenges.

Hosted by experienced financial advisors and CFP®s, Michael Acosta and Brady Hemmerle. This show goes beyond stale and generic strategies to provide in-depth advice about high-income earning professionals’ unique situations. Each episode delves into critical financial topics, helping you enhance your knowledge, strengthen your financial fortitude, and guide you toward becoming an Extraordinary Wealth Builder (#EWB).