The Life Money Balance® Podcast

Dive deep into the world of 401Ks and retirement planning with Dr. Preston Cherry on "The Life Money Balance Podcast." He'll demystify the complexities, debunk social media myths, and focus on vital legislation like the ERISA Act. But it's not just about rules and numbers – Dr. Cherry will explore the personal side, discussing what 'enough' means for you. Plus, he'll break down the benefits of 401Ks, diversification, and compare them to IRAs. Discover wealth-building strategies like permanent life insurance and the backdoor Roth, all while realizing the importance of saving 12-20% for retirement. Get ready to be informed and empowered to shape your retirement confidently! Download your FREE guide: 10 Questions to Discover Your Money Mind, Aspirations & Freedom Subscribe to Life Money Balance® YouTube for content beyond the podcast Discover a client relationship. Schedule a FREE, 20-minute Good Fit Meeting Connect with us across social media for more content - top right corner Find your story & learn about services that fit your journey Thank you for tuning in; we hope the information is educational and valuable. Remember to like and subscribe to the LMB® channel. We appreciate you. Listen to the disclaimer at the end of the show. #lifemoneybalance, #financialfreedom, #retirement, #aspiration, #wellbeing, #wealthbuiding, #wealth, #financialwellness, #compassion, #financialeducation

Imagine being able to balance your long and short-term financial goals with ease, mastering the art of diversification, and having that sweet spot where your portfolio works for you. Sounds enticing, doesn't it? In this rich conversation with Christine Benz, the Director of Personal Finance at Morningstar, we peel back the layers on capital gains tax, the benefits of Roth IRAs, and how to maximize your 401k plan. Tune in as Christine brings clarity to these complex matters, teaching us about the flexibility of using Roth IRAs as training wheels accounts and even dissecting the intricacies of 401k plans according to employer size. As we steer the conversation further, we discussed investment strategies that can simplify investing for those who might feel overwhelmed by stocks and bonds. Christine shares her wisdom on the value of index funds, exchange traded funds, automatic features, and target date funds. We also delve into the bargain of retirement funds for compounding and tax breaks, highlighting the unconventional yet beneficial policy of benign neglect. So whether you're a pro at managing your finances or just starting to build your financial plan, this episode is packed with insights that will empower you in your journey. Don't miss out on the chance to be in control of your financial destiny. Tune in now and let's navigate the complex world of retirement planning together! Download your FREE guide: 10 Questions to Discover Your Money Mind, Aspirations & Freedom Subscribe to Life Money Balance® YouTube for content beyond the podcast Discover a client relationship. Schedule a FREE, 20-minute Good Fit Meeting Connect with us across social media for more content - top right corner Find your story & learn about services that fit your journey Thank you for tuning in; we hope the information is educational and valuable. Remember to like and subscribe to the LMB® channel. We appreciate you. Listen to the disclaimer at the end of the show. #lifemoneybalance, #financialfreedom, #retirement, #aspiration, #wellbeing, #wealthbuiding, #wealth, #financialwellness, #compassion, #financialeducation

The LMB® Podcast invites special guest Saundra Davis, MSFP, APFC®, MCC, FBS®, CSC, "The Financial Coach's Coach," a #FinancialTherapy pioneer, Director of the Financial Planning Program at Golden Gate University, and Founder of Sage Financial Solutions. We discuss the roots and characteristics of #financialtrauma, how financial trauma impacts people's lives and finances through particular life and money events that shift future relationships with money, and approaching solutions with #compassion. We also discuss the potential consequences of the over and misapplication of financial trauma. Financial trauma is such a careful continuum that we need two episodes. Tap into part 1 and stay tuned for part 2. Download your FREE guide: 10 Questions to Discover Your Money Mind, Aspirations & Freedom Subscribe to Life Money Balance® YouTube for content beyond the podcast Discover a client relationship. Schedule a FREE, 20-minute Good Fit Meeting Connect with us across social media for more content - top right corner Find your story & learn about services that fit your journey Thank you for tuning in; we hope the information is educational and valuable. Remember to like and subscribe to the LMB® channel. We appreciate you. Listen to the disclaimer at the end of the show. #lifemoneybalance, #financialfreedom, #retirement, #aspiration, #wellbeing, #wealthbuiding, #wealth, #financialwellness, #compassion, #financialeducation

The LMB® Podcast invites special guest Mr. Caleb Silver, Editor-in-Chief of Investopedia, to ask and discuss “What Financial Advice Does GenX Want?” from the human and financial side of advice. Like the movie ‘Taken,’ regarding financial planning topics, you have a “special set of skills.” You are a “sandwich” generation between young adult children and elderly parents, desire to maximize your lifestyle now and optimize your retirement years later. In this episode: 0:59 What does financial freedom mean? 3:28 Don’t want to & DO want to 5:12 Life Money Balance & Let your life lead your money 7:33 What financial advice does Gen X Want? 10:56 Does Gen X want to be educated & informed? 12:18 The importance of connection 13:18 What does retirement mean? 17:10 The bald eagle and retirement story. 18:09 Maximize life now AND optimize retirement later Download your FREE guide: 10 Questions to Discover Your Money Mind, Aspirations & Freedom Subscribe to Life Money Balance® YouTube for content beyond the podcast Discover a client relationship. Schedule a FREE, 20-minute Good Fit Meeting Connect with us across social media for more content - top right corner Find your story & learn about services that fit your journey Thank you for tuning in; we hope the information is educational and valuable. Remember to like and subscribe to the LMB® channel. We appreciate you. Listen to the disclaimer at the end of the show. #lifemoneybalance, #financialfreedom, #retirement, #aspiration, #wellbeing, #wealthbuiding, #wealth, #financialwellness, #compassion

"Is Social Security Running Out?" People already have worry & anxiety over retirement. Being alarmist with information cloaked in awareness needlessly elevates the strife. Knowing how the SS system works and what to expect, near-term retirees can DIY or partner with a financial planner or financial coach to adjust their retirement funding plan. Conversation Insights: Follow Us: Life Money Balance® - YouTube Concurrent Financial Planning - Website Concurrent Financial Planning - Facebook Dr. Cherry - Instagram Dr. Cherry - Twitter Dr. Cherry - LinkedIn Dr. Cherry - TikTok Schedule a FREE, 20-minute Good Fit Meeting Thank you for tuning in; we hope the information is educational and valuable. Please listen to the disclaimer at the end of the show.

Financial advice requires a financial planning process that includes discovering how you think, feel, and behave with money and your life and money alignment. The investigation is–past, present, and future. Life is a journey of life events and life stages–seasons. The seasons of trial, triumph, transition, and transformation serve as an inspirational willingness to align your money with your life aspirations. The Four Reasons Your Stories Make Money Season is the connective glue that gives your money life assignments. Dr. Cherry has a candid and compassionate conversation with inspiring and introspective special guest Jess Bost, RICP® from Alpha Architect, to discuss why and how the three T's relate to your money–your Life Money Balance®. Let's Chop!

The Life Money Balance™ journey finds roots in story exchanges that help us establish the foundation and build frameworks to process life events and achieve our aspirations. Episode nine welcomes w/ Leah Davis, FFC®, who shares her story of resilience that fuels her life aspirations which connect her life with her money. Her story has themes of life and money, trauma, abuse, and discovery. She shares how her journey led her to the personal finance and financial coaching professions focused on helping people process emotion, being heard, valued, and belonging. We talk about how the power of empathy and compassion in conversations with the people we serve helps people unlock and uncover the life and money paths they long to achieve. This show is one of being a survivor, demonstrating courage and strength and resilience in abundance. Let's chop!

Your aspirational life evolves, and you transition from season to season. Aspirations and seasons integrate life, money, and career platform choice. When one season finds a peak, you ask yourself, “what do I aspire to do next?”. Other questions that you may ask yourself: -Where are my fulfillment gaps? -How do I want to maximize my life and money well-being? -Can I envision courageously in my aspirational mission? -Which career platform is best for me? Workplace or entrepreneur? Or Combination? -How do I approach my family conversations? It’s a pleasure to discuss these topics more with my dear sister Jennifer Gloria. She shares her courageous story about her life transition that may resonate with your life position. We cover: -Being valued in the workplace. -Complementing household income with a workplace and entrepreneur career. -Importance of money conversations with your spouse and young adult children. -Believing in your Faith following and confidence in yourself to pursue your aspirations. -Leveraging a hobby to side-hustle to a thriving business. You don’t want to miss this episode. Let’s chop it up!

In this episode, we extend from marriage and money theme foundations from the Charles and Carla episodes 2 & 3. Renowned & decorated financial planner and long-time married (25 years), Lazetta Rainey Braxton, MBA, CFP®, imparts wisdom on the "business of marriage". We discuss how marriage's emotions, values, and love intersect with the values and mechanics of money across marriage's ever-evolving course. From the unique perspective of a person and planner, Lazetta offers frameworks for discussion and money techniques to consider for marriage and money well-being. Let's chop it up!

In this timely episode, Dr. Cherry shares how "It's OK" to experience certain feelings about the external economic environment and how to analyze & adjust your personal situation to help manage and maximize your internal environment. The show emphasizes an emotional process to progress towards being prosperous during and after periods of uncertainty. Give yourself some grace, empathy & compassion to avoid having natural pause and caution turn to fear and panic. Dr. Cherry offers education on money tools & techniques to consider during temporary times of uncertainty. Roll & adapt to help maintain a healthy spirit.

In this episode, we welcome Dr. Michael G. Thomas, AFC®, to discuss cryptocurrency through the lens of financial wellness and behavioral psychology while considering the framework and mechanical education of crypto, DeFi, and Blockchain technology. We begin with Michael sharing his story that helps fuel his passion for emotional empathy and financial wellness, ingredients that are missing from the hardline and fast information highway of cryptocurrency. We discuss the importance of establishing the fundamentals of investing before a crypto allocation and during your crypto research. We unpack the critical difference between risk tolerance and risk capacity and their vital importance in investment decisions and an overall financial plan. You don't want to miss this chop-up!

Deciding to start a journey is courageous and promising. How do you effectively select a pathway that bests fits your desired needs, experiences, and outcomes? There are many choices and much information available. Dr. Cherry shares four self-discovery questions that will help inform your pathway partnership. We discuss pathways such as financial coaching, financial planning, financial platforms, financial education courses, what to look for, and what benefits they could bring to your journey. Find out why your ‘Blueprint’ is vitally important and why your story and human understanding are central to any pathway.

Dr. Cherry's parents, Charles and Carla, continue sharing their Life Money Balance™ journey. There are treasures troves of wisdom! We ask, and they share their perspectives on savings, spending, intentional goals, personal preferences, transitions, and trade-offs. They also share knowledge on the emotions, values, experiences, and stories meaningful to them, which informed their life and money decisions, behaviors, and practices. They comment on transitioning and living in retirement. There are more than a couple of funny moments, and Carla shares wisdom on life that will nurture your soul and truly summarizes Life Money Balance™.

Where did the tenents of Life Money Balance all begin? Meet Dr. Cherry's parents. Married for 43 years, they discuss how their life influences and experiences directly affected how they made decisions as a unit on how they were going to raise their children. We talk about self-worth, access, relational communication, family communication, money talks and decisions within the household, and having empathy & compassion and being vulnerable.

Dr. Cherry shares the philosophy, expectations, takeaways, and topics of the LMB podcast. He also shares how his personal story helped shape LMB and Concurrent Financial Planning. The show discusses LMB and how personal stories help people connect with their LMB journey to maximize their wellbeing. Let’s chop!