Smart Money Insights

Tuesday, November 3rd is the big day. Who will it be – Trump or Biden? We know the candidates are polar opposites on the issue of taxes, and that could impact our wallet. But what will happen to the market depending on the outcome? Should “Smart Money” investors worry about what Wall Street does over the next several weeks? Many Americans are asking this question, and Wes is breaking down what our true focus should be on instead of politics and the media.

More time at home has motivated many to make a few upgrades and finally fix a few things around the house. In our latest episode, Wes discusses how to plan for these expenses, and how they could pay off down the road.

With the recent passing of legendary guitarist Eddie Van Halen, former singer of Van Halen, Sammy Hagar explained how their relationship worked. The immediate answer was Chemistry. In this episode, Kristen and Wes discuss the importance of chemistry, whether it’s between you and a friend, a spouse, or with a financial advisor. 

One of the top stories in the news has been the claim that President Trump paid little, or no, taxes over the past decade. Instead of arguing whether that’s accurate or not – We all agree that the ultra-wealthy have ways… legal ways – of reducing the amount of taxes they owe. If you’re part of the middle class and wondering what you’re doing wrong, this episode is for you! Wes spotlights what all of this REALLY means, and how to can find out if you’re able to legally lower your personal tax liabilities.

This isn’t a right vs. left, Trump vs. Biden debate. This episode is all about YOU and your money! With such a heated election season, Wes discusses how Wall Street could react to the outcome… But more importantly, how it could directly impact your bottom line. Yes, we’re faced with a lot of uncertainty, but Wes breaks down the numbers you CAN control… and how to NOT let headlines or politics dictate your future.

Ever heard the adage “as California goes, so goes the nation?" That saying will fire you up after listening to this episode! California lawmakers are not only trying to hike their state income tax rates, but they’re now also pushing what would be a first-in-the-nation wealth tax! If they get away with it, you KNOW other states will likely attempt to do the same. Whether you work with an advisor or are a DIY investor, Wes explains what to watch out for and how to be as tax efficient as possible with your portfolio.

It’s been said that one of the keys to successful investing is not putting all your eggs in one basket – also known as diversification. So, you’d assume that investing in an index such as the S&P 500 would protect you, right? Well, not necessarily! Wes brings to light that about a quarter of the S&P’s total value is made up of just 6 companies, and he explains what steps you can take to make sure you aren’t putting all of your eggs in one basket.

America's retirees today face unique circumstances and challenges given the fiscal health of the United States. In this episode, Wes sits down with his dad, Rick, to discuss the realities retirees face today.     

Asset allocation: The combination of diversified investments in your portfolio. Seems simple enough, right? Not necessarily. Wes breaks down why asset allocation is one of the most important decisions long-term investors can make… and what you may not know.

As amateur golfers, we often watch tournaments and pick up a few tips from the pros to try to improve our swing and go the distance on the fairway. Wes and Austin share experiences from their own game, and spotlight 4 lessons from the golf course that can help investors like you with your financial long game… And more importantly, how to stay the financial course!

When working towards financial freedom, sometimes you’re seeking a little independence from your current retirement accounts. It’s common for investors to wonder “should I rollover my 401(k)?” Since there are various factors to consider… Wes addresses why you need to look at not only your 401(k) performance but fees, taxes and more. Plus, find out how to decide what type of rollover is right for you.

For the first time since 2009, in February we officially entered a recession… and economists say that in May we wrapped up the shortest recession in U.S. history. Wes points out how chapter 11 filings and bankruptcy protection for major companies jumped in April and March, yet the market is back up! If you feel that Main Street doesn’t match Wall Street right now, listen for insight on how you can best navigate this economic uncertainty with your own dollars.

Planning for mortality isn’t enjoyable. However, planning in advance for this transition of life can make the future much easier for your loved ones. Wes explains how settling your estate can cost your family additional heartache and years of time and money due to the probate process. He even offers simple tips you can implement today to make sure some accounts immediately go to your heirs. Also, find out how devoting a little time and money NOW on a few meetings with the right lawyer can make life easier for you and your heirs later on.

At about the same time major sporting events were canceled and casinos closed due to the pandemic, stock trading began to increase amongst retail investors. Investors and gamblers do have the same goal: They want more money in their pockets! Despite this similarity, Wes explains how they couldn't be more different.

Whether you’re long-distance or socially distanced, Wes & Kristen share ideas of how to celebrate mom this Mother's Day weekend! They also share stories of the lessons their mothers instilled, and how those values have come full circle. This episode is a good reminder for all to not let a day go by without letting mom know how much she means to you!

If during these tough times you’ve been offered an early retirement buyout, you’re faced with some hard choices. Yes… Your retirement could be very different than you expected, but not necessarily! Before you rush into a decision that could impact you and your family for the rest of your life, listen as Wes explains how to step back and best evaluate your options.

We’ve often heard that when dealing with sudden and dramatic change, we need to be calm yet responsive… while being realistic yet optimistic. In this episode, Wes discusses how that’s never been truer as we deal with the ever-changing lifestyle and financial adjustments from the coronavirus pandemic.

Have you given true thought to what you want to spend your time doing when you stop working? Wes discovered a silver lining to all of us staying home during this crisis. This is a preview of what your life could be like when you retire, so use this time wisely!

After they share how they’re making the best of social distancing (and Kristen tells Wes his baby’s head is BIG)… Wes explains the GOOD NEWS of how the stimulus package impacts you. Plus, ideas of how to use the money if you don’t need it right now, and the new options that are available for your retirement accounts for 2020 only.

Most of us are dealing with some sort of quarantine right now, and cabin fever is beginning to set in… Wes and his family included! That’s why we’re sharing ideas of how you can feel less constrained at home and focus on the small joys we’re fortunate to have. Plus, a suggestion of how to use this time wisely when it comes to your finances.