CFO at Home

Last time out we talked about balancing saving for college and retirement with Dan Cieniewicz of Hyperion Financial. On this episode, Vince continues the college discussion with Honoria DaSliva-Kilgore, founder of Personal College Counseling, Inc., (also known as PCCI) this time focusing on college prep and how to best position young scholars for success in college in all aspects of their education, including financial. You can learn more about Honoria and PCCI at PersonalCollegeCounseling.com Key Points (01:15) From a financial perspective, you should start planning as early as when the child is born (08:26) Early on, you're determining whether college is the path for your child (13:16) More colleges are dropping the requirement to have certain standardized test scores (23:51) In terms of cost, college choice plays a big part in that Ways to contact/follow: PersonalCollegeCounseling.com nod@personalcollegecounseling.com Text or call - 508-622-5354 Personal_College_Counseling - Instagram Contact the Host - vince@thecfoathome.com

Saving for your kid’s College education. Saving for your own retirement. Which should you do first? Which is more important? Do you really have to choose between one or the other? Or is there a way to work towards both goals simultaneously? That’s the topic Vince discusses on this episode of CFO at Home with Dan Cieniewicz, Certified Financial Planner with Hyperion Financial. You can learn more about Dan and Hyperion Financial by going to hyperionfp.com Key Topics: (01:38) It's all about saving for college and retirement in that intersection (08:12) College savings and retirement planning are foundational (14:07) The 529 plan can be a great tax planning tool (25:09) 401Ks and the IRAs (33:01) Saving in a Roth IRA for college Ways to contact/follow: Hyperion Financial thecollegedude.com dan@hyperionfp.com Contact the Host - vince@thecfoathome.com

With the exception of a chosen few who are born into very fortunate circumstances, few of us wander into a position of sustained financial stability. It takes intentionally, and intentionally is driven by goals. On this episode of CFO at Home, Vince discusses goal setting in order to achieve life goals, financial and otherwise, with Aliki Samone, author of Conquer your Summit, How to Build a Five-Year Plan and live your best life. You can find out more about Aliki and Conquer your Summit by going to ConquerYourSummit.com Key Takeaways: (06:27) The Summit Method is designed to help readers create goals and plans (07:35) Having a plan for your life (18:29) Summit Method focuses on four areas: personal growth, financial freedom, community (25:41) The Mountain of Financial Freedom (29:14) Is the Summit Method is not prescriptive Resources: ConquerYourSummit.com Ways to contact/follow: AlikiSamonebooks - Instagram Conquer Your Summit - Facebook Contact the Host - vince@thecfoathome.com

Google “Topics that people avoid talking about” and money appears on almost any list (along with politics, region, death, and sex). Throw in the often complicated dynamics of family relationships, and it’s no wonder that family conversations around finances can be so difficult particularly during critical life transitions that involve financial decisions. Family money conversations is the topic on this episode of CFO at Home with Lori Sackler, Certified Investment Management Analyst, Certified Financial Planner, and author of The M Word: The Money Talk Every Family Needs to Have about Wealth and Their Financial Future. You can find out more about Lori and The M Word by visiting themword.com Key Takeaways: (05:34) Communication barriers can make it difficult for partners to talk about money (07:25) There's a natural difference between the way men and women view money and approach finances (19:12) The Five Step Process to guide you through life’s transitions (29:31) When should you introduce kids into your financial world, educating kids about money Ways to contact/follow: themword.com Contact the Host - vince@thecfoathome.com

I told myself that getting out of debt this year was a priority, so why did I just buy a new car? Why did I just spend the money that I was saving for a house down-payment on a vacation? We often can be our own worst enemies when it comes to achieving our financial goals. Why? Self-Sabotage and money is the topic Vince discusses on this episode of CFO at Home with Nancy Pickard, Master Life Coach and Author of the #1 Best Seller Bigger, Better, Braver. You can learn more about Nancy, her coaching, and her book by checking out NancyPicardLifeCoach.com Key Takeaways: (01:21) Your anxiety around money is often deeply tied to your childhood experiences with financial stability (11:50) What causes self-sabotaging behavior with your money (16:20) Low self esteem can lead to self-sabotaging behavior in relationships (24:18) Cognitive dissonance is a disconnect between how you see yourself and what's happening (36:03) Dealing with self-sabotaging behaviors Ways to contact/follow: Nancy Pickard Life Coach Nancy Pickard (@nancypickardlifecoach) • Instagram Nancy Pickard Master Life Coach - Facebook Contact the Host - vince@thecfoathome.com

When you hear the words “Tax Planning”, what comes to mind? For so many of us, those words stir up images of the well-to-do, working with their CPAs and tax advisors to build sophisticated strategies to take advantage of tax breaks that are only available to the wealthy and privileged. But in reality, proactive tax planning can play an important role in the wealth building strategies of those of us who are nowhere near the 1%. Tax planning for the rest of us is the topic of this episode of CFO at Home with Cathyana Jean-Baptiste, founder and CEO of Skinny Tax. You can learn more about Skinny Tax by going to Skinny.Tax Key Takeaways (11:16) Options in setting up an IRA (14:03) HSA - A tax advantage savings account (18:38) 529 accounts that allow parents to defer taxes on future education expenses (24:16) With the standard deduction being raised, do fewer people itemize deductions (29:51) Side hustles and deductions (31:05) Skinny Tax focuses on helping people minimize their tax liability and maximize financial freedom Ways to contact/follow: Skinny.Tax Contact the Host - vince@thecfoathome.com

Vince has spent his professional career working with engineers, project managers, coders, and various other left-brain thinkers. The overwhelming majority are intelligent, logical, professional, and good at what they do. However, for all of their success in their chosen field, some are also good with managing their money, while others, not so much. For those who struggle with their finances, how can they improve? That’s the topic Vince discusses on this episode of CFO at Home with Kyle Simmons of Simmons Investment Management. You can learn more about Kyle and Simmons Investment Management by checking out his site at simmonsinvest.com Chapters: (15:17) There's this emotional component to investing that makes it unpredictable (18:41) Most people lack basic understanding of investing (29:20) Once you're financially independent, you can choose whether you retire early (36:23) When you do retire, find something fulfilling Ways to contact/follow: Simmons Investment Management Contact the Host - vince@thecfoathome.com

When we think about what it takes to be a successful investor, many times what comes to mind are characteristics like being an excellent stock picker, knowing when to buy and sell stocks, and having some level of sophisticated knowledge of finance and markets. What we don’t always think about is one of the key elements that has been responsible for the success of so many everyday investors; consistency. One of the simplest ways to become a consistent investor is to automate your investments. That’s the topic that Vince discusses with Seth Wunder, Chief Investment Officer of Acorns, on this episode of CFO at Home. Acorns is one of the most popular saving and investing apps on the market today. You can learn more about Acorns by visiting Acorns.com. (03:36) Younger millennials have difficult time trusting stock market (05:22) Seth remains optimistic about the markets and investing (13:16) Acorns helps individual investors understand the big picture of investing (17:23) Starting small is one of the foundational ideas behind Acorns (21:53) Trading versus investing (29:50) Bitcoin and Cryptocurrencies Ways to contact/follow: Acorns.com Acorns (@acorns) • Instagram photos and videos Acorns|Facebook Contact the Host - vince@thecfoathome.com

Your average kid has no problem with asking their parents for money to buy things they want, but has limited interest in earning money. They would rather spend their time doing the things they enjoy; playing their favorite video games, drawing, doing whatever it is that they’re doing on their phones, the list goes on. But instead of advising your kid to go find a job in fast food, what if you could guide your child along the path of turning a passion into a business? That’s the discussion Vince has on today’s episode of CFO at Home with Jonathan and Renee Harris, where they discuss Parent Their Passion, a strategy based on their own experiences of teaching their kids business skills and guiding them in developing marketable talents that earn them a sustainable income. You can find out more about Jonathan, Renee, and Parent Their Passion by checking out ParentTheir Passion.com. Key Takeaways Jonathan and Renee (and their kids!) go into business (1:16) “Parent Their Passion” (18:44) The “Window of Opportunity” of getting your kids interested in being entrepreneurs (23:05) Helping kids identify interests that they can turn a interest into business (30:32) Being of Value, being of Service (37:01) Ways to Contact: Parent Their Passion Contact the Host - vince@thecfoathome.com

Certified Financial Planners, Chartered FInancial Analysts, Chartered Financial Consultants, Chartered Retirement Planning Counselors, Certified Divorce Financial Analysts. These are just a handful of the types of different certifications that Financial Advisors have in today’s market. There are also Financial Coaches, Financial Educators, Financial Therapists, and a host of others financial professionals with an array of titles, credentials, areas of expertise, and specializations. While it’s great to have choices, how do you go about finding the right professional (or professionals) for you? That’s the topic that Vince discusses on this episode of CFO at Home with Brian Thorp, CEO of Wealthtender, an online marketplace helping people find the best financial advisors and educators for their individual needs. You can learn more about Wealthtender by going to Wealthtender.com Key Takeaways The difference between Financial Advisors and Financial Coaches (4:15) Finding the right financial professional for your situation (7:40) How Financial Professional make money (12:08) Financial Certifications (19:05) The intangibles of selecting a Financial Professional (23:54) Free and Low Cost Financial Advice (27:00) Resources: Wealthtender Ways to Contact: Wealthtender (@wealthtender) • Instagram photos and videos Wealthtender|Facebook Wealthtender|Twitter Contact the Host - vince@thecfoathome.com

According to NerdWallet, although there’s no official definition, most experts agree that a High Net Worth Individual is a person who has somewhere between $1-$5 million dollars in liquid assets. Given that attaining this status is a goal that so many of us aspire to achieve, on this episode of CFO at Home, Vince has a conversation with Ben Hockema, CFP and Founder of Illuminate Wealth Management, about how the habits, routines, and behaviors that he’s observed in High Net Worth Individuals that he’s actually worked with lines up with some of the common personal financial advice on wealth building that’s available today. You can learn more about Ben and Illuminate Wealth Management by visiting illuminatewm.com Key Takeaways Budgeting (4:31) Frugality (10:07) Young People and Frugality (12:52) Spending Guardrails (15:18) Fostering an Abundance Mindset(18:13) Generosity (Money and Service) (21:22) Using Debt (26:10) Educating Yourself on Financial Topics (34:11) Vetting Financial Professionals (38:32) Resources: Forbes (June 2021) 16 Habits Of The Wealthy Anyone Would Be Wise To Emulate Ways to Contact: Illuminate Wealth Management Illuminate Wealth Management | Facebook Ben Hockema (@benhockema) | Instagram Ben Hockema, CFP® | LinkedIn Contact the Host - vince@thecfoathome.com

Aaron Shelley is the author of The Family Flywheel: The Secret Business Principles Successful Families Use to Create Sustained Wealth And Happiness. On this episode of CFO at Home, Aaron and Vince discuss the differences and similarities of managing money in a business and at home, the different roles family members play in managing finances, the value of social resources in managing your money, and more. You can find out more about Aaron and the Family Flywheel by visiting thefamilyflywheel.com. Key Takeaways Aaron’s story of writing The Family Flywheel (2:06) Comparing managing a business to managing money at home (5:18) The importance of understanding roles when managing money at home (6:31) The importance of defining roles when managing money at home (11:13) The value of intentionality in defining financial roles in a home (17:28) The business of family decisions (24:01) The value of social resources (35.25) Resources: The Family Flywheel Ways to Contact: Aaron K Shelley - LinkedIn Aaron K Shelley - Facebook aaron@thefamilyflywheel.com Contact the Host - vince@thecfoathome.com

In nearly every discussion about achieving Financial Independence, one or both of two investments are usually talked about as being keys to a successful plan; investing in stocks and real estate. On this episode of CFO at Home Axel Meierhoefer, founder of Ideal Wealth Grower and Vince discuss using Real Estate as a key component to achieve what he calls the “Time Freedom Point” where we no longer need to exchange time for money, and have the freedom to decide what we want to do each day with our families, passions and time. You can learn more about Axel and the Time Freedom Point by going to his site idealwealthgrower.com, or by checking his podcast The IDEAL Investor Show. Key Takeaways How Axel used Real Estate investing to prepare for retirement (1:17) Axel on reaching his “Time Freedom Point” (5:01) Axel’s thoughts on generating income from Real Estate investments (8:10) The “hassle factor” of being a real estate investor (28:21) The value proposition of using Property Management (34:50) Resources: Ideal Wealth Grower The IDEAL Investor Show Ways to Contact: Ideal Wealth Grower | Instagram Ideal Wealth Grower | Facebook Ideal Wealth Grower - YouTube Contact the Host - vince@thecfoathome.com

At the end of the day, any effective budget is a communication tool. If you’re using it solo, it’s communicating to you where your money is going, and how well your spending aligns with the priorities that you’ve defined. If you’re budgeting with a partner, the budget is communicating this info to the both of you, helping to keep you both on the same page. However, this only works when both parties buy into using the budgeting tool, without which the budget can quickly become a source of resentment, frustration, and disagreements. On this episode of CFO at Home, Dan Seethaler, the Cofounder of the budgeting app Weekly and Vince discuss how budgeting on a weekly basis can make the process simpler and easier to manage for all parties involved. You can learn more about the Weekly app by going to WeeklyBudgeting.com Key Takeaways How Dan and his wife decided to budget weekly (1:53) The clarity that weekly budgeting provides (5:04) Course correcting your budget (9:00) Getting started with weekly budgeting (13:57) Who weekly budgeting works best for (19:54) How weekly budgeting can help reduce money fights (29:47) Words of encouragement for budgeting (33:56) Resources WeeklyBudgeting.com Contact the Host - vince@thecfoathome.com

So many of our life’s money goals revolve around the positive; financial freedom, owning your own home, driving a nice car, taking wonderful vacations. But as much enjoyment as we can derive from these types of things, there’s also the other side of the coin; making sure that our loved ones are taken care of financially in the event that the worst happens. This is the topic that Vince discusses on this episode of CFO at Home with the Founder of Prepared Fathers, Jay Gabrani. Key Takeaways Money Conversations, Assets, Paperwork (4:41) Protecting your family in times of loss/grief (6:15) Knowing your numbers (10:07) Distributing a loved one’s assets (13:12) Important financial skills to teach your teens (16:14) Investing Sales Marketing Non-Financial Skills (28:06) Resources PreparedFathers.com Contact the Host - vince@thecfoathome.com

Through his business Portal CFO Consulting, Manny Skevofilax works with business owners as an Outsourced Chief Financial Officer to help them gain a better understanding of their business’s financial health. Through this website MannySkevofilax.com, he offers products that help individuals to create personal household budgets using the same system that he used to pay off $65,000 in credit card debt and student loans. On this episode of CFO at Home, Manny and Vince discuss Budgeting like a Business, managing debt, Manny’s personal story of getting out of debt, and more. Key Takeaways Importance of budgeting (1:46) The impact of personal finances on your small business (3:50) Budgeting like a business (5:14) Managing your debt like a business (7:12) Student loan debt (12:43) More on budgeting (19:01) Manny’s story of eliminating $65k credit card debt (28:31) Resources https://www.mannyskevofilax.com/ Ways to connect/follow manny@portalcfo.com https://www.linkedin.com/in/mannyskevofilax/ Contact the Host - vince@thecfoathome.com

Think about it for a minute. It seems like just yesterday we were all social distancing and wondering if travel would ever be as accessible as what we’d all grown accustomed to. Today, travel is back with a vengeance as we hit the road and air in record numbers. On this episode of CFO at Home, Vince and author, travel writer, blogger, and Founder of The Smart Travelista, Linda King discuss traveling on a budget, with a special focus on international travel. Key Takeaways (2:04) Booking Travel On-Line (6:00) Travel Websites (11:32) Saving $’s on flights (16:28) Meals on a budget while traveling (20:28) Doing your research before your trip to save money (23:35) Living accommodations (Hotels, Airbnb, etc) (27:47) Security while traveling Resources TheSmartTravelista.com 6 best websites for travel health and safety 19 travel websites to save you money how to save big money on travel expenses Thesmarttravelista.com/books/ Ways to connect/follow TheSmartTravelista.com TheSmartTravelista - Instagram TheSmartTravelista - FaceBook TheSmartTravelista - Twitter Contact the Host - vince@thecfoathome.com

Vince Shorb is one of the country’s leading advocates for promoting financial wellness, and a thought leader in teaching and scaling financial education programming. On this episode of CFO at Home, the VInces discuss the philological side of financial literacy and wellness, managing your finances during challenging economic times, the danger of living above our means, how childhood experiences shape our money habits, and more. Key Takeaways The less financial margin (wiggle room) we have the more we need to understand our money mindset and closely manage your money. Product marketing is designed to prey on our insecurities and our need for self-esteem and contributes to us sometimes living above our means. Understanding how our upbringing influences our current money mindset is fundamental to improving our realationship with money If you have financial margin, understanding the basics about how money works is important in order for you to successfully weather tough financial times. Understanding stock market basics (including how emotions impact markets) helps you to be a more steady investor during volatile times. Ways to connect/follow FinancialEducatorsCouncil.org Vince Shorb - LinkedIn Contact the Host - vince@thecfoathome.com

Teaching kids to earn, save and give are all important, fundamental money lessons. But so is learning to spend wisely, and one the best teachers of that lesson can be to let kids experience first hand, in a kid-friendly environment of course, the sting of impulse spending and buyers remorse, as well as the fulfillment of saving up and buying something of value that brings longer lasting enjoyment and pleasure. On this episode of CFO at Home, Vince discusses these topics and more with the Founder of Ketshop, and mother of 3 feral children, Mari Collins Harris Key Topics Mari’s inspiration for founding Ketshop (:59) How the Ketshop App works (4:27) Teaching kids to make purchasing decisions (12:50) How you “give” money to kids (allowances, chores, etc) (14:27) “The Law of Natural Consequences” (19:53) The impact of on-line shopping on buying habits (21:08) The impact of the ease of spending money digitally on kids (23:57) How Mari and her husband manage their family finances (28:43) Kids learning to appreciate what they have (32:07) Resources Ketshop.com Ketshop.com/cfo/ for $10 off your first Ketshop-fulfilled order! Ways to connect/follow Ketshop.app - Instagram Ketshop App - Facebook Contact the Host - vince@thecfoathome.com

Even the most caring parents make mistakes with their kids. We do our best but when we don’t know much about a subject ourselves, it can be hard to give the best advice. Or maybe the game is just different for our kids than it was for us for any number of reasons. On this episode of CFO at Home, Vince and his guest Natasha Sattler, Author of Shit Adults Never Taught Us, discuss some of the money topics that she and other millennials didn’t learn about growing up. Key Topics 3:53 - The story behind the Money section of Natasha’s book 6:18 - Having Savings 16:52 - Investing/Investment Apps 21:52 - Retirement saving/investing challenges for younger generations 24:43 - Never make a decision because of money 32:48 - Taking care of your mind and your money 43:46 - Recognize it’s just stuff Resources Shit Adults Never Taught Us Ways to connect/follow ShitAdultsNeverTaughtUs@gmail.com Shit Adults Never Taught Us - Instagram Contact the Host - vince@thecfoathome.com