Best In Wealth Podcast
by Scott Wellens
This is the best in Wealth podcast – A show for successful family stewards who want real answers about Retirement and investing so we can feel secure about our family’s future. Scott's mission is simple: to help other family stewards build and maintain their family fortress. A family steward is someone that feels family is the most important thing. You go to your job every day for your family. You watch over your family, you make sacrifices for your family, you protect your family. I work with family stewards because I am one; I have become an expert in the unique wealth challenges family stewards face.Scott Wellens is the founder of Fortress Planning Group - an independent, fee-only, registered investment advisory firm. Fortress Planning Group is dedicated to coaching clients toward a holistic view of wealth and family stewardship. Scott is a certified financial planner, a fiduciary and has been quoted in the industry’s leading websites including Forbes, Business Insider and Yahoo
Episodes
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The Real Costs of Long-Term Care, Ep #274
You’ve likely heard the oft-cited statistic: 70% of people turning 65 will need long-term care. While this number is technically accurate, it wildly overstates the financial risk. The broad 70% figure counts any functional limitation—such as a daughter driving you to an appointment for a few...
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How Survivor Stress Tests Protect Your Family’s Financial Future, Ep #273
Retirement planning is often seen as a numbers game—ensuring that you have saved enough, invested wisely, and built a strategy that will comfortably carry you through what should be your golden years. But those numbers only tell part of the story, the test of any retirement plan is not just…
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The Four Keys to a Truly Satisfying Retirement, Ep #272
Most of us equate a satisfying retirement with achieving a specific savings goal. We dream of the day when the work alarm clock is silenced, the 401(k) is plump, and we can finally enjoy life on our terms. But recent research challenges this traditional thinking, revealing that while money…
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Avoiding the 5 Biggest Retirement Pitfalls, Ep #271
Retirement is the beginning of a new chapter, full of opportunity, challenges, and critical decisions about your financial future. Protecting your retirement means understanding and proactively managing the most significant risks you will face. On the show this week, I explore the five biggest...
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Preparing Your Retirement Portfolio for a Grizzly Bear Market, Ep #270
Are you ready for the next grizzly bear?—not the animal, but a major market downturn. He discusses the history of market corrections, bear markets, and the rare but devastating grizzly bear markets, illustrating why it is crucial to evaluate your portfolio’s risk level during strong market...
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The Retirement Trap Nobody's Talking About, Ep #269
While most of us spend our working lives worrying about running out of money in retirement, Many retirees actually die with far more money than they anticipated—often missing out on the experiences, generosity, and freedom that their hard-earned savings could have provided. In this episode, I...
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Should You Stay the Course? War, Oil, and Your Investments, Ep #268
Watching the news recently has been an uneasy experience for investors and retirees. War headlines dominate the airwaves, oil prices have surged to new highs, and portfolio balances may not look as reassuring as they did months ago. For family stewards looking to safeguard their financial…
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How Data, Discipline, and Human Ingenuity Shape Long-Term Wealth, Ep #267
In a world where gut instinct once ruled the day—from football coaches making pivotal fourth-down decisions to investors choosing their next stock pick—a revolution has reshaped the landscape: reliable data and analytics. Drawing inspiration from the principles behind the film Moneyball and a...
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Are We in an AI Bubble? And What That Means for Investors, Ep #266
Investors have short memories—until the talk of a “bubble” resurfaces. We take investors on a quick trip down memory lane, discussing the infamous dot-com bubble of the late ‘90s and early 2000s, as well as the housing bubbled that appeared a few years later. These bubbles were fueled by sky-high...
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Why Artificial Intelligence Can’t Replace Human Wisdom with Your Finances, Ep #265
AI is everywhere, from investing apps and portfolio tools to recipe planners and vacation organizers, artificial intelligence touches countless corners of our lives. In finance, AI promises accessibility. For newer investors, it is a way to learn basic concepts, compare traditional and Roth IRAs,...
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The Most Important Changes in the One Big Beautiful Bill Explained, Ep #264
Tax laws may not be flashy, but understanding them can tilt the balance for your family’s finances and peace of mind. I am digging into the details of the much-talked-about “One Big Beautiful Tax Bill”, a huge piece of tax legislation that is set to impact families, retirees, and investors across...
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Balancing US and International Stocks to Diversify Your Investments, Ep #263
Most investors have been ignoring international stocks lately because the US market has been performing so well—but that strategy might backfire this year, with international markets significantly outpacing American stocks. In this episode, I dive into why diversifying globally is not just smart...
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The Secret to Stress-Free Investing, Ep #262
We all have some worries, those everyday anxieties that creep into our lives—money, kids, jobs, and adding more stress to your life in the form of an investment portfolio can seem like too much at times. So this week, I am sharing how understanding one key financial theory can transform your...
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The Truth About Bitcoin, Gold, and Safe Investing Strategies, Ep #261
Bitcoin and gold are two assets often hailed as safe havens and reliable stores of value. I explore whether bitcoin and gold really deliver the security investors hope for, or if, instead, they are more about speculation than true investment. I am helping you to look at the hard data and science...
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Common Retirement Myths You Shouldn’t Fall For, Ep #260
Let’s unpack six of the top retirement misconceptions, from whether it is okay to splurge in retirement, to the necessity of paying off your mortgage before you retire, and the real risks that retirees face beyond just a stock market crash. With a focus on helping family stewards make smart...
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The Secret to Thriving Between Midlife and Retirement, Ep #259
In this episode, inspired by my own family life, I am exploring the "holy trinity of assets": time, health, and money. Financial wealth alone does not guarantee a fulfilling future; you also need to be intentional about your health and your relationships. I share practical ways to extend the...
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How to Handle Stock Market Downturns, Ep #258
Do downturns in the stock market inevitably lead to down years? On the show this month, I am walking you through an analysis of U.S. market trends over the past two decades, illustrating how downturns, even severe ones, often do not spell disaster for annual returns. I will also share what savvy...
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Experts, Predictions, and the Uncertainty of the Stock Market, Ep #257
Did you know that you can pay someone to give you advice on what to bet on? They can look at historical data like rushing and passing yards, touchdowns, and more—but so can we. Honestly, historical data can only tell us so much. If you bet on a game, you are really making a lucky guess. Is it...
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The Ultimate Planner to Jumpstart Your 2025, Ep #256
Today, I am sharing something that my family has fallen in love with—The Clever Fox Dated Planner. This planner goes beyond simple scheduling with features like a gratitude section, vision board, habit tracker, and tools for setting and achieving SMART goals. It is designed to help you reflect,...
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Why I Don’t Want You to Spend the Money in Your HSA, Ep #255
What is an HSA? Who can invest in one? What can you use the money for? Why do I love them? Why shouldn’t you spend the money you save in an HSA? I will unravel all of these questions in this episode of Best in Wealth. [bctt tweet="Why don’t I want you to spend the money you’ve saved in your #HSA?…
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The Importance of Remaining Disciplined with Asset Allocation, Ep #254
We invest in large companies, small companies, value companies, international companies, emerging markets, etc. We practice discipline when investing in all of these asset classes. If we want 20% of a portfolio allocated to large value, we maintain that percentage. We also practice strategic...
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Are You in the Top 5% of Income-Earners or Net Worth? Ep #253
Ever wondered where you rank financially among Americans? Curious about what it takes to join the top 5% in income or net worth? Every three years, the Fed surveys the finances of American households, tracking assets, debt, and more. One of the things they cover is who landed in the top 5% of…
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Demystifying Financial Advisors, Ep #252
Did you know that anyone can say they are a financial advisor? They may not be licensed or experienced. So how do you know who to trust? In this episode of Best in Wealth, I will break down the three types of people who put “financial advisor” on their business cards, what the letters after a...
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Does the Outcome of the Presidential Election Impact My Investments? Ep #251
Do we care who wins the election? Does it actually impact our investments? The issues at stake matter to each of us for different reasons. Most Democrats think things will be better if a Democrat is voted into office. Most Republicans likely feel that things will fare better with a Republican in...
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6 Lessons from Fritz Gilbert’s 6 Years of Retirement, Ep #250
I frequently talk about what you should do to prepare for retirement and how to handle the years leading to retirement. But I rarely talk about what to do during retirement because I have not experienced it. [bctt tweet="Retirement will be different than you expect. How? Learn more in episode…
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The 3 Big Rules of Investing, Ep #249
I believe there are three rules that every family steward should follow when it comes to investing. In theory, these rules are “easy” to follow—but living by them is not. Secondly, these rules will not surprise you. That does not make them any less important. So in this episode of Best in Wealth…
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Buying a New Car: What to Learn from My Experience, Ep #248
When we decided my wife was going to get a new vehicle, I knew we needed to test drive the vehicle she wanted: A Jeep. She had never driven a Jeep before. She had never experienced what it was like driving something with the doors off. So I knew she needed to get behind the wheel to see how it...
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How Much Should You Spend on Vacations? Ep #247
I am often asked how much a family should spend on vacations. While that is entirely personal, most experts recommend that 5–10% of your net income can be spent on vacations. Many factors may change this number. Maybe you have a large family or your kids are into expensive sports. You might not...
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4 Questions to Help You Decide When to Retire, Ep #246
There are a lot of huge decisions you have to make in life. What career are you going to choose? Will you get married? Will you have kids? Will you buy a home? There are many more. But there are not many bigger than this question: When are you going to retire? Maybe that is your only huge…
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How to Teach Your Kids How to Budget, Ep #245
I make a spending plan for our family every single month. We account for every dollar coming in and going out. But what about the things that happen quarterly and annually? We add up all of those expected expenses at the beginning of the year and calculate the total approximate cost. That money...
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How to Overcome “The Wall of Worry,” Ep #244
Why are we worried about the world, the economy, the stock market, and our investment accounts? The stock market started the year great. The S&P 500 was up over 10% at the end of the first quarter. But the stock market has dropped steadily in the first 19 days of April. My business Partner…
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Understanding the Mutual Fund Landscape, Ep #243
The mutual fund landscape is complex, with thousands of choices. In fact, at the end of 2023, there were 4,722 US-domiciled funds that we could choose from. Of those, 2,043 were from US equities, 1,124 were international funds domiciled in the US, and over 1,500 were bond funds. If you add all…
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Solving the Two Biggest Retirement Problems, Ep #242
The #1 issue most people face when it comes to retirement is running out of money. Secondly, most people want to live the best retirement that they can. If there is anything left, they will gladly give it to their children—but it does not need to be millions of dollars. Too many people are dying...
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Do Roth Conversions Make Sense For You? Ep #241
What is a Roth conversion? Should you do a Roth conversion? When is the best time to do a Roth conversion? If questions like these have been circulating in your mind, this is the episode for you. I will break down when doing a Roth conversion might make sense for you (and why your CPA might not...
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The Positive Impact of Uncertainty, Ep #240
David Booth—the Executive Chairman and Co-Founder of Dimensional Fund Advisors—recently wrote an article entitled “Uncertainty is Underrated.” In this episode of Best in Wealth, I will read this intriguing article and share why I agree that—while it sounds scary—uncertainty has a positive impact…
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Why Your Portfolio Should Be Internationally Diversified, Ep #239
If you opened up and looked at your 401k statement, chances are that some of your investments are international. You are investing in companies outside of the United States. If you are invested in a target date fund, it is almost certain. It may be in mutual funds or ETFs. It may be in developed…
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How Often Should You Look at Your Investments? Ep #238
How often should you look at your investments? Some of my clients look at their investments every day. Some look weekly, monthly, quarterly, annually—and some never look at them. So what is my answer? It depends. After listening to this episode of Best in Wealth, you will know how often you…
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Should You Invest in the Magnificent Seven? Ep #237
BRICS is an acronym that denoted the emerging economies of Brazil, Russia, India, China, and South America. The stock market returns were really good. The economies were expected to continue to explode. So people started pouring into the BRICS. Many people who invested did poorly because they…
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Charlie Munger’s Life Lessons, Ep #236
Charlie Munger was the Vice Chairman of Berkshire Hathaway and Warren Buffet’s right-hand man. He quit a well-established law career to become Warren Buffet’s partner, transforming a textile company into the successful firm Berkshire Hathaway is today. Charlie passed away last week at the age of...
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The Average Net Worth of US Households by Age, Ep #235
Over the last three years, US net worth has increased drastically. But it is taboo to talk about money with family and friends, let alone net worth. But don’t you want to know how you are doing relative to your peers? If so, this is the episode of Best in Wealth for you. In this episode, we break...
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Is American Household Wealth Growing? Ep #234
American wealth is growing—but you would never know it. Every three years, the Federal Reserve releases a report that summarizes the changes to family finances in the United States. The most recent report was released in early October 2023. What did it say? One of my business partners, Brian…
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5 Life Lessons Kids Need to Learn, Ep #233
I was reading an article that got me thinking. What do my kids need to learn? What have I already taught them that is important? What do I need to reinforce? I came up with a list of five things—that seem like they should be no-brainers—that more and more kids do not know. We need to teach our…
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Will We See a 4th Quarter Rally? Ep #232
The S&P 500 was down 4% in September, continuing the downward trend we also saw in August. And almost ALL of the asset classes have been down the last couple of months. To address this troubling trend, my business partner, Brian Cayon, CFA®, CPA, wrote an article about the 4th quarter. So in this...
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End-of-Year Financial Planning Issues to Consider, Ep #231
What financial issues do you need to think about before the end of the year? There are three big groups to consider: tax planning, cash flow, and insurance. In this episode of Best in Wealth, I have broken down 15 points across each of these groups. They are all important to consider to maximize...
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The 9 Traits of a Happy Retirement, Ep #230
What makes for a happy retirement? According to Merrill Lynch, “Only 51% of 25–34 year old's say that they often feel happy compared to 76% of people ages 65–74.” So what makes them happy? An article entitled “Why 72% of Retirees Are Happy” talks about three financial traits and six non-financial...
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3 Important Observations on Wealth and Health, Ep #229
I recently read an article by David Booth—the executive chairman of Dimensional Fund Advisors—titled “Practicing Healthy Habits, Pursuing Wealthy Outcomes.” In the article, David shares some correlations he saw between health and investing after reading “Outlive: The Science and Art of Longevity”...
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Will Social Security Run Out by 2033? Ep #228
Is social security going to run out in 2033? If I am a high-income earner, will social security reduce my benefit? For those of us who have planned for social security, as we are getting closer and closer to retirement, do we have cause to be anxious? In this episode of Best in Wealth I will…
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The Pros and Cons of Owning a Second Home, Ep #227
Have you thought about purchasing a second home? Does it sound nice to have a place to vacation that is all yours? Do you dream of owning a Florida home or a cabin “up north?” Have you considered the pros and cons of owning a second home? Before a second home becomes part of your dream…
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Dissecting the Illusion of Moral Decline, Ep #226
I have client after client tell me that the world is going to hell in a handbasket. Leaders gain power by vowing a return to the “Good ‘ol days.” But is your mind playing tricks on you? According to research by Adam Mastroianni and Daniel Gilbert, your brain has tricked you into thinking…
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How to Choose a Financial Power of Attorney, Ep #225
What is a financial power of attorney? The financial power of attorney is a legal document where you specify individuals to act on your behalf in financial matters if/when you become incapacitated. If you become incapacitated, someone still has to pay your bills. Who is going to do it? Life must…
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About this show
This is the best in Wealth podcast – A show for successful family stewards who want real answers about Retirement and investing so we can feel secure about our family’s future. Scott's mission is simple: to help other family stewards build and maintain their family fortress. A family steward is someone that feels family is the most important thing. You go to your job every day for your family. You watch over your family, you make sacrifices for your family, you protect your family. I work with family stewards because I am one; I have become an expert in the unique wealth challenges family stewards face.Scott Wellens is the founder of Fortress Planning Group - an independent, fee-only, registered investment advisory firm. Fortress Planning Group is dedicated to coaching clients toward a holistic view of wealth and family stewardship. Scott is a certified financial planner, a fiduciary and has been quoted in the industry’s leading websites including Forbes, Business Insider and Yahoo
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Scott Wellens