Ep 276: Peyton Hoppes

Guest: Peyton Hoppes, ProVest Wealth Advisors (Spartanburg, SC)Episode SummaryDavid sits down with longtime friend and fellow financial advisor Peyton Hoppes to talk shop. Peyton recently joined ProVest Wealth Advisors in Spartanburg, SC, where he and colleague Gabe are stepping in to take over the client relationships of a retiring advisor. The two dig into what they're seeing with clients day-to-day: how busy families in their "formation years" actually manage cash flow, the real difference between Roth and pre-tax retirement accounts (and when each makes sense), and — for anyone who's ever dreamed of owning a beach house — a breakdown of the smartest (and riskiest) ways to actually pay for one.Key TakeawaysPurposeful money management beats default money management. Peyton runs a system of segregated accounts (savings, taxes, vacation/project fund) so every dollar has a job — and vacations get booked only once the savings cover them.Family formation years (roughly age 28–47) are the most expensive of your financial life. Most people's spending peaks here, then tapers as kids move out.Wealth isn't a number — it's time. Peyton's definition: wealth is the amount of time you can spend not working, not a dollar figure on a screen.Roth vs. pre-tax isn't a "which is better" question — it's a "which serves this purpose" question. Younger earners in lower tax brackets often benefit more from brokerage/Roth flexibility than maxing out pre-tax accounts; higher earners in higher brackets benefit more from pre-tax now with planned Roth conversions later.The three-bucket strategy: pre-tax, Roth (post-tax), and brokerage (post-tax, flexible) — where you focus your dollars should shift as your income and life stage change.Funding a dream property (like a beach house) has real tax tradeoffs. David and Peyton walk through three scenarios: cashing out a brokerage account (and eating the capital gains tax), a HELOC against your primary residence, and a securities-backed line of credit — each with very different risk profiles.Late-in-life cash flow planning is about spending well, not just accumulating. For those in their late 60s+ with fixed income covering expenses, the conversation shifts to strategic giving and enjoying wealth now rather than only growing net worth.About Peyton HoppesPeyton recently joined ProVest Wealth Advisors in Spartanburg, SC, focusing on families with busy lives and high financial complexity — business owners, medical professionals, and families with special-needs children. He and David worked together for several years before Peyton's move.Connect with Peyton:Email: [email protected]: Peyton HoppesWebsite: provestwealth.com📅 Want to Talk Through Your Own Financial Situation?Book a complimentary 20-minute Wealth Optimization Call with David — a CFP® who works with successful individuals and business owners. 👉 Book Your Call → weeklywealthpodcast.com/vision📧 Questions? Email [email protected] information presented on this podcast is for general educational purposes only and does not constitute financial, investment, legal, or tax advice. Parallel Financial is registered with the U.S. Securities and Exchange Commission (SEC) as a registered investment advisor. Registration does not imply a certain level of skill or training, nor does it constitute an endorsement by the SEC. All investing involves risk, including the potential loss of principal. Please consult a qualified financial professional before making any financial decisions.