We introduce an insightful conversation with Travis Gatzemeier, a certified financial planner who guides entrepreneurs and equity compensated professionals in making informed financial decisions. There's so much noise online when it comes to opinions and advice on how to manage your hard-earned cash. Should you aim towards investments, or pour everything into your business? Perhaps Roth retirement plans? TikTok may bombard you with tips and tricks, but today we're bringing you the proven facts. We discuss the four elements of a robust financial plan, the importance of diversifying investments and tax positions, and the valuable role insurance plays in protecting wealth. Plus, as financial planning naturally evolves over our lifetimes, Travis provides some critical pointers on navigating these changes and reshaping the goals you're aiming for. Stay tuned as we debunk common myths, offer some invaluable tips, and guide your wealth on a path of growth. Whether you're just starting your financial journey or looking to optimize your plan, this episode is jam-packed with information you don't want to miss! Tune in!

 

Connect with Travis: 

Twitter: https://twitter.com/T_Gatzemeier

LinkedIn: https://www.linkedin.com/in/travisgatzemeier/

Instagram: https://www.instagram.com/kinetixfp/

Website: https://www.kinetixfp.com/

 

What you'll hear in this episode:

[07:24] Helping clients navigate social media financial information.

[12:57] Efficient tax strategy is transitioning investment income. The goal is to create ongoing cash flow and flexibility. Personal situations determine the planning and advice given.

[15:18] The importance of planning and setting goals cannot be underestimated, even if circumstances are bound to change. Having a loose plan keeps us focused and helps us make progress towards our desired outcomes. 

[17:42] Many business owners lack a long-term plan and rely on holding cash. They focus on immediate cash needs and liquidity but fail to make adjustments for the future.

[28:10] Choose accounts wisely based on future tax rates.

[33:30] Ensure you're not under- or over-covered, paying excessively or risking financial instability for dependents. Life insurance is crucial for risk coverage, not as an investment. Additionally, income protection involves disability insurance, which many underestimate.

If you like this episode, check out:

The Benefits of Business Continuity Planning with Jim Erben

How to Pour Money Into Your Business

How to Introduce Your Kids to Money

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Watch this episode and more here: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ

Connect with Shannon on IG: https://www.instagram.com/shannonkweinstein/

 

The information contained in this podcast is intended for educational purposes only and is not individual tax advice. Please consult a qualified professional before implementing anything you learn.