In this episode, Ryan Burklo and Alex Collins discuss the challenge of turning variable assets into a consistent income stream in retirement. They emphasize the importance of making efficient choices today to set oneself up for flexibility in the future. They explore the concept of promised-based assets, such as Social Security and pensions, which provide a steady income stream, and compare them to market-based assets, like stocks and bonds, which can be more volatile. They also discuss the risks of relying solely on market-based assets and the benefits of incorporating promised-based assets into one's retirement plan. The conversation highlights the need to consider the entire picture and balance one's portfolio between market-based and promised-based assets.

Takeaways

Making efficient choices today can set you up for more flexibility in retirement.
Promised-based assets, such as Social Security and pensions, provide a steady income stream.
Market-based assets, like stocks and bonds, can be more volatile and may not produce consistent income in retirement.
Balancing your portfolio between market-based and promised-based assets can help mitigate risk and provide more financial security in retirement.

Chapters

00:00 Introduction
06:16 Understanding Single Point of Failure in Retirement Planning
13:09 Balancing Your Portfolio: Incorporating Promised-Based Assets
26:30 Question of the Day

In this episode, Ryan Burklo and Alex Collins discuss the importance of expanding financial knowledge beyond personal experiences. They highlight the influence of personal experiences on financial decision-making and the need to seek advice from professionals with broader expertise. The conversation emphasizes the significance of continuous learning and staying curious to challenge and update existing beliefs. They also stress the importance of looking at the entire financial picture and avoiding silo decision-making. The three main takeaways are: 1) Work with someone who has extensive financial knowledge and experience, 2) Continually learn and stay curious, and 3) Consider the entire financial picture and avoid relying on one-size-fits-all solutions.

If you would like to learn more about Quantified Financial Partners, please visit our website www.beerandmoney.net

Takeaways

Work with someone who has extensive financial knowledge and experience
Continually learn and stay curious
Consider the entire financial picture and avoid relying on one-size-fits-all solutions

Chapters

00:00 Introduction and Personal Experiences with Finance
02:30 The Influence of Personal Experiences on Financial Decision-Making
08:32 Challenging Existing Beliefs and Seeking Knowledge
13:22 Continuous Learning and Staying Curious
19:45 Question of the Day and Conclusion

In this episode, Ryan and Alex discuss five wealth objectives that everyone has but are often not properly planned for. These objectives include creating the highest possible cashflow, creating the lowest possible tax, never running out of money, meeting legacy objectives, and minimizing risk. They emphasize the importance of planning for these objectives in a comprehensive and efficient manner, rather than solely focusing on a target net worth or rate of return. The hosts also highlight the significance of budgeting as a tool for financial freedom and stress the need to tailor financial plans to individual circumstances. If you would like to learn more about Quantified Financial Partners, please visit our website www.beerandmoney.net

Takeaways

The five wealth objectives that everyone has are creating the highest possible cashflow, creating the lowest possible tax, never running out of money, meeting legacy objectives, and minimizing risk.
Many people do not plan for these objectives in a comprehensive and efficient manner, instead focusing on a target net worth or rate of return.
Budgeting can be a tool for financial freedom, allowing individuals to allocate a portion of their income towards their goals and enjoy the rest.
Financial plans should be tailored to individual circumstances, taking into account factors such as risk tolerance, income sources, and legacy objectives.

Chapters

00:00 Introduction
00:55 Five Wealth Objectives
04:28 Creating the Lowest Possible Tax
04:35 Never Running Out of Money
04:43 Meeting Legacy Objectives
05:49 Minimizing Risk
08:16 Focusing on the Wrong Things
12:11 Budgeting as Freedom
13:20 Spending Time Where You Want
15:09 The Single Point of Failure
19:18 The Average Rate of Return Fallacy
21:31 Tailoring the Plan to the Individual
21:40 Question of the Day
22:15 Conclusion

In this episode, Ryan Burklo discusses the single biggest factor that contributes to financial success: managing cashflow. He highlights the flawed cashflow management system that most people have, where income increases are often accompanied by lifestyle inflation. Using a 30-year time horizon and a 5% average income increase, Ryan demonstrates how a 1% difference in lifestyle inflation can significantly impact wealth accumulation. By managing cashflow and keeping lifestyle inflation in check, individuals can save and invest more, leading to a substantial increase in their nest egg over time.

If you would like to learn more about Quantified Financial Partners, please visit our website www.beerandmoney.net

Takeaways

Managing cashflow is the single biggest factor for financial success.
Most people have a flawed cashflow management system that leads to lifestyle inflation.
A 1% difference in lifestyle inflation can have a significant impact on wealth accumulation over time.
By monitoring and managing cashflow, individuals can save and invest more, leading to a larger nest egg.

Chapters

00:00 Introduction: The Single Biggest Factor for Financial Success
00:31 The Flawed Cashflow Management System
01:25 The Impact of Income and Lifestyle
05:21 The Power of Saving and Investing
07:01 The Role of Lifestyle Inflation
08:01 Managing Cashflow with a Wealth Building Account
09:55 The Impact of a 1% Difference in Lifestyle
11:04 The Key Ingredient for Financial Success
11:56 Conclusion: The Importance of Monitoring and Managing Lifestyle

In this episode, Ryan Burklo discusses investment portfolios and the importance of diversification and asset classes. He introduces a tool for analyzing the performance of different asset classes over a 50-year period. Burklo highlights the potential growth of portfolios invested in asset classes such as US small value stocks. He emphasizes the challenge of predicting which asset class will perform the best in any given year and the need for a diversified portfolio. Burklo encourages listeners to analyze their own portfolios and consider the asset classes they are invested in.

To learn more about Quantified Financial Partners, please visit our website www.beerandmoney.net

Takeaways

Diversification across different asset classes is crucial for long-term investment success.
Asset classes such as US small value stocks have shown significant growth over time.
Attempting to predict the best-performing asset class in any given year is nearly impossible.
Investors should regularly analyze their portfolios to ensure they are properly diversified.

Chapters

00:00 Introduction and Overview
01:26 Tool for Analyzing Asset Classes
03:17 The Importance of Diversification
04:17 Exploring Different Asset Classes
05:15 The Challenge of Predicting Asset Class Performance
06:19 Understanding Portfolio Diversification
07:52 Analyzing Your Own Portfolio
08:22 Conclusion and Call to Action

In this episode, Ryan Burklo and Alex Collins discuss alternative investments and whether or not they are suitable for individual investors. They define alternative investments as those that do not fall into traditional categories like stocks, bonds, and cash. The hosts explain the concepts of correlation and standard deviation and how they relate to risk and diversification. They emphasize the importance of having a solid financial foundation, including an emergency fund, income protection, and liquidity, before considering alternative investments. The episode concludes with a reminder to prioritize balance sheet management before making investment choices.

To learn more about Quantified Financial Partners, please visit our website www.beerandmoney.net

Takeaways

Alternative investments are investment vehicles that do not fall into traditional categories like stocks, bonds, and cash.
Understanding correlation and standard deviation is crucial for assessing the risk and diversification potential of alternative investments.
Before investing in alternative investments, it is important to have a solid financial foundation, including an emergency fund, income protection, and liquidity.
Net worth and accredited investor status may impact access to certain alternative investments.

Chapters

00:00 Introduction and Beer of the Day
00:36 Definition of Alternative Investments
04:07 Correlation and Standard Deviation
05:26 Benefits of Negative Correlation
07:10 Understanding Risk and Standard Deviation
09:18 Considerations Before Investing in Alternative Investments
10:25 Importance of Emergency Fund
11:10 Protection of Income
12:01 Liquidity and Access to Money
13:48 Net Worth and Accredited Investor Status
15:06 Alternative Investments and Balance Sheet
21:42 Access to Alternative Investments
23:33 Question of the Day and Conclusion

In this episode, Ryan Burklo discusses the four factors that impact financial success: the amount of wealth, location of wealth, true liquidity ratio, and taxes. He emphasizes the importance of considering these factors when planning for retirement and making financial decisions. Ryan also highlights the significance of controlling cash flow and spending money on things that are valued. By understanding and optimizing these factors, individuals can improve their financial well-being and achieve their desired lifestyle.

Takeaways

The amount of wealth is important for financial flexibility, but it is not the only factor that impacts financial success.
The location of wealth, such as tax-deferred accounts and real estate, can have significant implications for retirement income and taxation.
True liquidity, which involves having access to money without high taxes and fees, provides flexibility and peace of mind in retirement.
Understanding and managing taxes is crucial for optimizing financial outcomes and minimizing tax liabilities.
Controlling cash flow and spending money on things that are valued is essential for long-term financial success.

Chapters

00:00 Introduction
00:27 Factors that Impact Financial Success
01:25 Impact #1: Amount of Wealth
03:19 Impact #3: True Liquidity Ratio
04:46 Impact #4: Taxes
20:12 Conclusion

In this episode, Ryan Burklo interviews Katie Ludwick, an estate planning attorney, about estate planning. They discuss the potential changes to the federal estate tax, the Washington state estate tax, and the importance of proactive planning. They also explore estate planning techniques for minimizing taxes and ensuring liquidity. The conversation highlights the pitfalls of online estate planning services and emphasizes the need for personalized advice from an attorney. They conclude by stressing the importance of estate planning for young adults. The conversation emphasizes the importance of estate planning and the potential consequences of not having a plan in place. It highlights the need for holistic financial planning and the importance of communication between different professionals involved in the planning process. The conversation also discusses the dangers of following misguided advice and the importance of reviewing estate planning documents during significant life events. Ultimately, the focus is on planning for the future and ensuring that loved ones are not burdened with unnecessary complications.

If you would like to learn more about Quantified Financial Partners, please visit our website www.beerandmoney.net

If you would like to reach out to Katie Ludwick, you can visit her website at https://ludwicklawgroup.com

Takeaways

Stay informed about potential changes to the federal estate tax and consult with an estate planning attorney to determine the best course of action.
Be aware of the Washington state estate tax and consider strategies to minimize its impact, such as creating trusts or making charitable donations.
Ensure liquidity in your estate plan to cover taxes, debts, and other expenses by considering life insurance and other financial tools.
Avoid relying solely on online estate planning services, as they may not provide the personalized advice and attention to detail necessary for a comprehensive plan.
Start estate planning early, even for young adults, to ensure that your wishes are carried out and to alleviate stress for your loved ones in the event of incapacity or death.

Chapters

00:00 Introduction and Beer Talk
03:07 Federal Estate Tax Changes
07:30 Washington State Estate Tax
10:14 Estate Planning Questions
11:44 Estate Planning Techniques for Washington State
19:11 Importance of Liquidity in Estate Planning
23:09 Online Estate Planning vs. Working with an Attorney
28:19 Difference Between a Will and a Trust
32:34 Importance of Estate Planning for Young Adults
39:14 The Importance of Estate Planning
40:30 The Need for Holistic Financial Planning
41:35 The Shift Towards Holistic Planning
42:41 The Consequences of Communication Gaps
43:23 The Danger of Misguided Advice
44:27 When to Review Estate Planning Documents
46:10 Planning for the Future of Your Loved Ones