The Best 5 Minute Financial Advice
by Greg Welborn, Scott Sommers, Danny Beckwith, Chad Germann, John Griesinger, Chris Siraganian
Join First Financial Consulting as they offer "the best" objective financial advice in about 5 minutes or less. They will share practical tips on investing, retirement planning and what it means to be fee-only.
Episodes
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Retiring With $3 Million: How Much Can You Actually Spend?
If you have $3 million and you’re ready to retire, how much can you actually afford to spend? $120,000 a year? $150,000? $180,000? It sounds like a straightforward question, but retirement planning rarely produces one perfect spending number. In this episode, Greg Welborn of First Financial...
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Longevity Risk in Retirement: How to Make Your Money Last
What happens if your retirement lasts longer than you planned? Longevity risk is the possibility of outliving your retirement savings. It becomes more important as retirees face longer lifespans, rising healthcare expenses, inflation, and decades of portfolio withdrawals. In this episode, Greg...
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Fiduciary vs. Broker: What’s the Difference?
What does it really mean when someone says they’re a fiduciary—and how is that different from working with a broker? In this episode, Greg Welborn of First Financial Consulting explains some of the key differences between investment advisers and brokers, including how they are regulated, how they...
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When Is the Best Time to Do a Roth Conversion?
When is the right time to do a Roth conversion? It’s a question that comes up frequently, but the answer isn’t as simple as waiting for a particular tax rate or assuming that a Roth is always better than a traditional retirement account. In this episode, Greg Welborn of First Financial Consulting...
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What Is High Net Worth Financial Planning?
High net worth financial planning involves more than managing a larger investment portfolio. As wealth grows, decisions involving investments, taxes, estate planning, businesses, real estate, and future generations become more connected. In this episode, Greg Welborn of First Financial Consulting...
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How Trusts Can Help Reduce Estate Taxes
Having a trust does not automatically mean your estate will avoid estate taxes. In this episode, Greg Welborn of First Financial Consulting explains how trusts work, why revocable living trusts and irrevocable trusts serve very different purposes, and how certain specialized trust strategies may...
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The Investment Mistake of Putting Too Much in One Place
One of the most common investment mistakes isn’t necessarily choosing the wrong investment—it’s putting too much money into a single one. In this episode, Greg Welborn of First Financial Consulting discusses concentration risk and why even an investment that appears attractive can become…
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Mega Backdoor Roth: How It Works for High-Income Earners
For high-income earners looking for additional ways to build tax-advantaged retirement assets, a Mega Backdoor Roth may be worth exploring. In this episode, Greg Welborn of First Financial Consulting explains the basic mechanics of the Mega Backdoor Roth strategy and why it can be especially…
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High Net Worth Retirement Planning: 4 Key Areas to Consider
High net worth retirement planning often involves more than simply determining how much you need to save or how much income your portfolio can generate. In this episode, Greg Welborn of First Financial Consulting discusses four areas that can become increasingly important as a family’s financial...
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How to Retire at 50: 7 Steps to Plan for Early Retirement
Can you really retire at 50? For many people, early retirement can feel out of reach. But retiring earlier than the traditional retirement age starts with understanding what you want retirement to look like, what it will cost, and what needs to happen financially to get you there. In this…
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How Much Retirement Income Do You Need - and How Do You Generate It?
In this episode, Greg Welborn of First Financial Consulting walks through both sides of the retirement income equation: determining how much you may need to support your lifestyle and building a plan for generating that income throughout retirement. Greg starts with the importance of…
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23. Don't Run Out of Money - Greg Welborn
Life is full of things to worry about, and a surveys show that two-thirds of people are more afraid of running out of money in retirement than they are of actually dying. That may seem surprising, but it can be a real possibility – and therefore a very legitimate fear – if you haven’t planned...
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College Planning and Financial Aid
Parents and students all across the country continue to wonder how they are going to pay for college. Over the last thirty years, the cost of college has risen astronomically. Since 1987 we have had over a 500% increase in the cost of college tuition. In that same time frame, college tuition has...
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How to Achieve Financial Security
Financial security in retirement is possible, but a few common planning mistakes can make it much harder to achieve. In this episode, Greg Welborn of First Financial Consulting explains three mistakes that can put a retirement plan at risk—and why simply becoming more conservative as retirement...
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Can You DIY Your Finances?
Can you DIY your personal finances? By now, most of us are familiar with the term DIY or “do-it-yourself.” The idea behind DIY is essentially that anyone can figure out how to do something by spending a few hours on YouTube or on the internet. We make our own home improvements, fill out our own...
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Can A Financial Advisor Really Help You?
Can A Financial Advisor Help You? Can a financial advisor help you in a meaningful way? The short answer is yes but, we do in fact have the data to back it up. In today’s Bench Talk, we’re going to discuss how a financial advisor can help you in a meaningful way. Let’s start with a quick example....
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Investment Checklist
What is investing? We all hear about the great investors like Warren Buffett, Jack Bogle, and Benjamin Graham. Hollywood portrays these investors and the likes as shrewd investors who outsmarted the market. Investing can oftentimes seem like a difficult or foreign task when you hear these…
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Yogi Berra & Retirement Questions
Yogi Berra once said, “If you don’t know where you’re going, you’ll end up someplace else.” That idea applies surprisingly well to retirement planning. In this episode, Scott Sommers of First Financial Consulting uses one of Yogi’s famous sayings to highlight a simple point: a successful…
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Is Your Advisor an Eeyore?
What should good financial advice actually feel like? In this episode, Greg Welborn of First Financial Consulting explains why effective financial planning is not about constantly saying “no,” blindly saying “yes,” or expecting clients to simply accept recommendations without asking questions.…
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Financial Wisdom, Our Greatest Client Value
What is the most valuable thing a financial advisor can provide? In this episode, Danny Beckwith of First Financial Consulting argues that the answer is wisdom. He explains that good financial advice is about more than having access to data, software, or financial information. Data on its own is...
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How I Paid Off 50k in Student Debt
Did you know that there are over 45 million people in the United States that carry student loan debt? And….as of right now, you just watched me make my last payment, and I am no longer one of them. Here’s how I paid off $50k in student loan debt. When I graduated from undergrad less than four…
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Million Dollar Retirement Plan
Building a strong retirement portfolio isn’t just about how much you save. It also depends on how early you start, how consistently you contribute, how you use your employer’s retirement plan, and how you invest along the way. In this episode, Greg Welborn of First Financial Consulting walks...
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Great Coaches Cast Vision
One of my favorite movie quotes is from a film called Miracle. If you’ve seen that movie, you know it’s about the 1980 U.S. Men’s Olympic Hockey Team, a team that was comprised of a bunch of college-age boys who were given no chance as they entered Lake Placid, NY in the Olympics. They ended up...
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Ten Questions To Assess Your Estate Plan
It’s important to assess the health of your estate plan. More often than not, people do not adequately prepare for estate planning and retirement. In order to make it easier, we compiled together 10 simple yes or no questions to help you assess your estate plan. Does your family have a mission...
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Brewing The Perfect Financial Plan
For today’s episode, I’m going to be talking about beer and financial plans. I know what you’re thinking, those two things don’t go together. But, the similarities may surprise you. As an avid home brewer I’ve spent countless hours trying to perfect different recipes. However, the process as a...
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Understanding Your 401k
This episode is all about understanding your 401(k) plan and making sure you’re using it as efficiently as possible for retirement. Most people have heard that contributing to a 401(k) is a good idea, but it’s also important to understand how your specific plan works—including employer...
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Couples! How to Talk About Finances
One of the biggest concerns couples have is how to talk about their finances. When it comes to money and finances, this question almost always hits the top five list. So, how should couples talk about finances? Well first, it’s important to ask these three questions: What? How? and When? First…
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How To Become A Millionaire
How To Become A Millionaire Do you want to be a millionaire? Of course, that’s a silly question because most people would answer yes. When we think of millionaires, we think of people with big mansions, fast cars, and elegant clothes and jewelry. We also tend to have an image in our heads of how...
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The Value of Fee-Only Financial Advice
Value of Fee-Only Advice After being in the business for a while now, I have found that most people really don’t know what we do. Of course, our clients know, because they see it on an on-going basis, but does the general public really know the value that we add? Let’s take a step back… Most of…
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The Habit of Generosity
Scott talks about how to cultivate a grateful and generous heart within the family. He includes the habits he built with his own children and looks at the importance of the values surrounding generosity while saving money for the future. The information discussed in this episode is intended for...
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You Need A Solid Financial Plan
You Need a Solid Financial Plan Here’s a quick recap of the importance of having a solid financial plan. Some of you will remember the football player Brandon Williams who was drafted in 2006 by the San Francisco 49ers. In his early career Brandon’s Uncle, who was a die-hard fan, would send him a...
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Why We Offer Free Financial Advice... from a Bench
Greg shares why First Financial Consulting started creating videos and a podcast about offering objective financial advice. He also talks about his relationship with his father and how many helpful conversations about life and work took place on a bench. The information discussed in this episode…
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About this show
Join First Financial Consulting as they offer "the best" objective financial advice in about 5 minutes or less. They will share practical tips on investing, retirement planning and what it means to be fee-only.
Hosted by
Greg Welborn, Scott Sommers, Danny Beckwith, Chad Germann, John Griesinger, Chris Siraganian
Categories