Smart Money Insights

The financial and emotional "well-being" of our clients and their families, is something we take very seriously. Without a doubt, we are experiencing unprecedented times as Americans. Volatile markets, global health crises, and general uncertainty can feel really scary (totally normal, too!).   

The last two weeks have been one for the record books! Investors haven't experienced volatility like this since the 2008 Great Recession and Crash of 1987. The markets plunged this week in reaction to the coronavirus, oil prices and Wall Street reacted by selling off. Wes explains how to step back from the panic and continue to make smart decisions with your money.

When there’s volatility on Wall Street, it’s normal to have an emotional reaction. But does that mean you should make immediate changes to your 401(k) and other investments? In this episode, Wes reminds us that any moves you make now should be with one key factor in mind...

Due to a rise in confirmed Coronavirus cases, major stock market indices declined into correction (-10%+) territory. Investing can be emotional — especially for those who have saved into accounts in order to live comfortably in retirement. Those who have a financial plan that tells them how they should be invested, deviating from their plan remains the single most destructive action to their wealth. Wes discusses what to do, perhaps more importantly - what not to do, moving forward.

Many of us have become do-it-yourselfers. Want to upgrade the flooring in your home, fix your car or learn to play guitar? Just Google it and you’ll find more guidance than you ever could need! You can DIY your financial life… But does that mean you should? In this episode, Wes explains what to consider if you’re thinking of going it alone, and when you may want to reach out to a pro.

Unexpected expenses such as medical bills, or a car or home repair are bound to pop up eventually. When it happens, many of us quote Murphy's law: "Whatever can go wrong, will go wrong." To avoid experiencing full of financial panic, on this episode Wes explains how to grow an emergency fund, where to put it, and how much you should have… And how it keeps you out of bad debt!

Darius Rucker is one of the most intriguing success stories in country music and one of very few African American performers to succeed in the country genre. A while back Wes sat down with the Grammy winner in his hometown of Charleston, SC. They chat about family life in the Carolinas, his successful transition from Hootie & The Blowfish into country music, and how important it’s always been for Darius to have the right team on his side.

Remember playing “telephone” as a kid? The first person in the circle whispered a phrase into the ear of the person to their right…that person then repeats it to the person on their right… and so on. By the time the phrase reached the last player, it always had a completely different meaning! As adults, the same process occurs when friends and family innocently pass along financial advice. Since this misinformation could damage our financial life, Wes clarifies common second-hand money advice that you should be wary of.

It seems that some of the world’s richest people are stockpiling gold as a way of avoiding a wealth tax, and as a hedge against a global recession. Does this mean you should be using precious metals as a part of your portfolio? In this episode, Wes reminds us that “all that glitters is not gold.”

In the last few days of 2019, President Trump signed the SECURE Act, which will inevitably affect most retirement savers in some way. Today Wes explains what the changes in the required minimum distribution (RMD) age and inherited IRAs mean for you!

When it comes to resolutions, we all approach 2020 from a different perspective… but we share the common goal of doing something better in the new year. In this episode, Wes addresses why it’s vital that you resolve to be more focused on what’s really happening with your portfolio all year long, especially when it comes to taxes!

Join us as we embrace the real meaning of Christmas! In this episode, Wes shares fun memories and how’s he’s carrying on family traditions from his childhood to his son already.

Candy is something simple we enjoy, but you won’t believe how complicated the taxes can be for a mere Kit Kat bar. Confusion over a 75-cent candy bar is one thing – but confusion over taxes with our investments is another. Wes discusses how we should approach the whole tax question, in terms of our retirement.

It’s easy to forget how blessed we are. That’s why maintaining an attitude of gratitude is something we need to do on purpose. In this episode, Wes embraces Thanksgiving and discusses how being grateful can have a positive impact on every area of life, even our finances.

If you’ve ever watched Fox News, you’re familiar with veteran political journalist and commentator Tucker Carlson. Recently we caught up with Tucker about Washington’s reluctance to tackle our Social Security and pension problems, and how it impacts regular Americans. In this episode, Wes breaks down how you can best govern in your financial future while combating these national issues.

Here’s one thought so widespread that it’s commonly accepted as truth: “Your tax rate will be lower in retirement.” In this episode, Wes explains how that’s not necessarily true, but also illustrates how you can be more tax-efficient with your investments now and in the future.

Donating to causes you care about not only benefits the charities themselves, but it can also be deeply rewarding for you too. Today Wes explores “smart giving,” and how you can track the ways the organizations you contribute to use your dollars.

Ever hear one of those prescription drug commercials and wonder if the benefits outweigh all the unpleasant side effects? The same can be true of some investments. Wes breaks down the side effects of things like your 401(k), mutual funds and ETFs and even annuities.

Monopoly is a very competitive board game. Almost every family breaks out the box once or twice a year, but it can cause some minor arguments. Then there’s that other family member, “Uncle Sam,” who wants his share from all of us (on & off the Monopoly board). Wes explores the lessons we can take away from Monopoly and how to help minimize the taxes you pay on your real money!