The Money Alchemist Podcast

What accounts do you actually need to build wealth? In this episode of The Money Alchemist Podcast, Ben and Brent break down the idea that simplicity often beats complexity when it comes to financial planning and investing. They discuss why many investors end up chasing gimmicks, opening too many accounts, and overcomplicating their finances....when in reality, only a handful of account types tend to do most of the heavy lifting over time. The conversation walks through the core account structures they believe are most important for long-term wealth building and why understanding the purpose of each account matters more than constantly searching for the next strategy.     What’s happening in 10 minutes • Earnings growth accelerating across the S&P 500 • AI hardware demand surging with renewed focus on infrastructure • Micron, Intel, AMD, and Broadcom seeing increased attention • GameStop’s reported interest in eBay and why the market reacted negatively • PCE inflation coming in hotter than expected • 30-year Treasury bond hovering around 5% • Fed rate expectations and the outlook for future policy decisions   About Your Hosts Ben Jones, CFP® Managing Director, National Wealth Management Group www.nwmgadvisors.com Sign up for Ben’s newsletter: www.karatstick.com Follow him on X @thekaratstick https://www.linkedin.com/in/ben-nwmg/ Brent Gargano, CFP® Founder & Advisor, Infinite Wealth Planning www.infinitewealthplanning.com https://www.youtube.com/watch?v=Bmj2PaxX24E FactSet Earnings Update: https://insight.factset.com/sp-500-earnings-season-update-may-1-2026   Comments or questions? Email us at: www.nwmgadvisors.com or contact us directly. To connect with Ben Jones or Brent Gargano directly, email: [email protected]

What does TV get right… and wrong… about financial planning? In this episode of The Money Alchemist Podcast, Ben and Brent break down popular wealth strategies featured in Beef (Season 2) and separate what’s realistic from what’s not. They walk through concepts like buy, borrow, die, 1031 exchanges, and the use of entities, explaining how these strategies actually work in real life and where they’re often misunderstood. They also discuss the ethical and practical considerations behind some of the scenarios portrayed, and what viewers should take away when thinking about their own financial plan. What’s happening in 10 minutes • S&P 500 back to positive territory after recent volatility • Market rebound driven by institutional flows and retail participation • International markets still leading year-to-date • CPI rising to 3.3% — highest in two years • Earnings growth accelerating across the S&P 500 • Shifting dynamics between the MAG 7 and the broader market Topic Du Jour Netflix Season 2 Beef Wealth Strategies Explained • Buy, Borrow, Die — legit, but anyone can use • 1031 Transfers — legit, but anyone can use • Embezzlement & the ethics of JTTEN account with elderly parent • Shell companies — legit, works in real life and in the show • Healthcare for HCEs but not rank and file — not compliant with ACA Tip of the Week Smartwool socks — buy them at Sierra Trading Post: https://www.sierra.com/all/s~smartwool/?page=1&overrideSort=TopSellersScore Strategies Covered • Buy, Borrow, Die • 1031 Exchanges • Use of entities and shell companies • Ethical considerations in financial decision-making • Healthcare access differences and regulatory realities About Your Hosts Ben Jones, CFP® Managing Director, National Wealth Management Group www.nwmgadvisors.com Sign up for Ben’s newsletter: www.karatstick.com Follow him on X @thekaratstick https://www.linkedin.com/in/ben-nwmg/ Brent Gargano, CFP® Founder & Advisor, Infinite Wealth Planning www.infinitewealthplanning.com www.nwmgadvisors.com or contact us directly. To connect with Ben Jones or Brent Gargano directly, email: [email protected]

Topic of the Day CFP® Meets Reddit   What can real questions from Reddit teach us about personal finance? In this episode of The Money Alchemist Podcast, Ben and Brent review real posts from r/personalfinance and walk through how a CFP® professional would approach them. From navigating a major increase in income to thinking about long-term wealth, they break down practical decision-making in real-world scenarios. They also cover current market and economic updates, including developments around the Artemis II mission, comparisons between NASA and SpaceX, recent shifts in MAG 7 valuations, and the latest geopolitical headlines. If you’ve ever wondered how a financial advisor would think through real-life money questions, this episode offers a clear and practical look into that process. What’s happening in 10 minutes • Artemis II mission updates and cost considerations • NASA vs SpaceX: different approaches to space exploration • MAG 7 valuations amid recent market movement • Latest developments from recent geopolitical headlines   About your Hosts    Ben Jones, CFP®  Managing Director, National Wealth Management Group  www.nwmgadvisors.com   Sign up for Ben’s newsletter at www.karatstick.com   Follow him on X @thekaratstick  https://www.linkedin.com/in/ben-nwmg/     Brent Gargano, CFP® Founder & Advisor, Infinite Wealth Planning   www.infinitewealthplanning.com  linkedin.com/in/brent-gargano-cfp®-2067b573    Tip of the Week www.CollegeAidPro.com    Sources/Links: Reddit Post 1: https://www.reddit.com/r/personalfinance/comments/1sejscz/roth_401k_contribution/   Reddit Post 2: https://www.reddit.com/r/personalfinance/comments/1s6x28g/massive_jump_in_salary_need_advice/   Citrini Report: https://www.citriniresearch.com/p/strait-of-hormuz-a-citrini-field   Comments or questions?  Email us at [email protected]    The information provided on this podcast is for educational and informational purposes only and should not be construed as personalized investment, financial, tax, or legal advice.  The views expressed here are those of the hosts and guests and do not necessarily reflect the views of National Wealth Management Group, LLC or its affiliates. Investing involves risk, including the potential loss of principal. There is no guarantee that any investment strategy discussed will be successful or profitable. Past performance is not indicative of future results. Economic discussions are based on current data and opinions, which are subject to change and may not accurately predict future events. We encourage listeners to conduct their own research and seek guidance from a certified financial advisor before making any decisions. Advisory services are offered through National Wealth Management Group, LLC. For more information about National Wealth Management Group including our Forms ADV and CRS, please visit our website www.nwmgadvisors.com or contact us directly. To connect with Ben Jones or Brent Gargano directly, email us at [email protected].    

How much do financial advisors actually make? In this episode of Money Alchemist, Ben and Brent break down how advisors are compensated, how many clients they can realistically serve, and what their day-to-day work actually looks like. They also cover current market conditions, including recent S&P 500 movement, rising gas prices, and shifting expectations around interest rates. The conversation touches on broader economic themes like productivity, inflation, and the growing role of government debt. Whether you’ve worked with an advisor before or are simply curious how the industry operates, this episode provides a clear look at how the business of advice really works. Watch the full episode on our channel. Subscribe for more conversations on markets, investing, and financial planning.   About your Hosts   Ben Jones, CFP® Managing Director, National Wealth Management Group www.nwmgadvisors.com  Sign up for Ben’s newsletter at www.karatstick.com  Follow him on X @thekaratstick https://www.linkedin.com/in/ben-nwmg/   Brent Gargano, CFP® Founder & Advisor, Infinite Wealth Planning  www.infinitewealthplanning.com linkedin.com/in/brent-gargano-cfp®-2067b573 Comments or questions? Email us at [email protected]   Raw Agenda: What’s happening in 10 minutes S&P 500 in correction - down -5.9% from ATH led by MAG-7 declines Gas prices up, Fed rate cut forecasts slashed - chances of next move being a hike higher than a cut K-shape Economy - hot now but been going on for awhile Chuck Noris, seeking greater challenges, decides to die at 86 Productivity down (wages tend to drive inflation with productivity being the offset) & what this means for inflation Government debt hits $39T, growing by $2.78T since Trump took office Topic du jour - How Much Financial Advisors Make Brokers vs agents vs fiduciaries How many clients can an actual advisor handle? What do they typically do Advice models - which is best? Tip of the week Athropic Acadamy - https://www.anthropic.com/learn General Education - udemy.com   Disclosure: The information provided on this podcast is for educational and informational purposes only and should not be construed as personalized investment, financial, tax, or legal advice. The views expressed here are those of the hosts and guests and do not necessarily reflect the views of National Wealth Management Group, LLC or its affiliates.

In Episode 52 of The Money Alchemist, Ben and Brent walk through the latest market developments, including inflation trends, labor data, and shifts in private credit. They also discuss the market implications of recent geopolitical events, including Operation Epic Fury, and how these dynamics are influencing oil, global trade, and investor sentiment. The episode closes with a practical tip of the week and a broader perspective on how these moving pieces connect back to portfolios.   About your Hosts    Ben Jones, CFP®  Managing Director, National Wealth Management Group  www.nwmgadvisors.com   Sign up for Ben’s newsletter at www.karatstick.com   Follow him on X @thekaratstick  https://www.linkedin.com/in/ben-nwmg/     Brent Gargano, CFP® Founder & Advisor, Infinite Wealth Planning   www.infinitewealthplanning.com  linkedin.com/in/brent-gargano-cfp®-2067b573    Comments or questions?  Email us at [email protected]    Agenda: What’s happening in 10 minutes Inflation returning - Jan PPI moves up (Core at 3.6%), oil up +50% YTD Employment data not hot but resilient - March 6 BLS report Wage inflation moves higher from 3.7 to 3.8% Unemployment up from 4.3 to 4.4% Labor participation dipped to 62% - lowest since 12/2021 Job cuts hit nearly all sectors, healthcare hardest hit due to Kaiser Permanente strike Private Credit exodus - duration mismatch in evergreen funds apparent, banks enter space in 2022-2023 increasing competition, lowering spreads and covenant quality - older loans, especially to software co.s affected by AI.  Retail requesting redemptions in mass.  Solvency issue at the fund level, not the issuer level - middle market showing financial strength  Consumer spending up 3.2% YoY Broadening trade widens Transition to Operation Epic Fury BlackRock (HLEND), Blue Owl (OBDC II) & Blackstone BCRED have all frozen redemptions   Topic du jour - Operation Epic Fury market implications Over 5,000 targets struck - more than Desert Storm & Operation Iraqi Freedom - rumor is traffic cameras provided critical intel  Interim acting Supreme Leader in limbo (Mjtaba Khamenei or Alireza Arafi).  Tehran continues to reject unconditional demands  7 service members KIA.  March 10 reported to be most intense day of strikes yet Politically, Trump Admin frame “short-term” campaign message to garner public support - initially 2-weeks, now 4 Control of global oil shipments is a major objective, albeit not publicly highlighted - Oil must trade primarily in dollars to maintain dollar hegemony - Iran/Venezuelan oil trade fell largely outside of U.S. dollar system Crude Oil futures (April 26 contract) on NY Mercantile peaked around $95 before pulling back to sub $90.   USD largely unchanged YTD but strengthening since launch of operation - speculate continued strength Strait of Hormuz effectively ‘closed’ in game of chicken.  Threats are the primary leverage.   Islamic Revolutionary Guard Corps Navy using small boats & drones for hit and run - estimated 5 ships have been hit.    Tip of the week If planning an expensive vacation (i.e. resort package), upgrade to an Executive Membership at Costco & book through Costco Travel using the Citi Rewards card.  This will net you back 5%.  New cardholders can sometimes take advantage of one-time promos and stack benefits   Sources:    https://www.cnbc.com/2026/03/09/one-big-reason-ships-and-insurers-are-unwilling-to-risk-strait-of-hormuz.html   https://www.worldometers.info/oil/us-oil/   https://www.macrotrends.net/1369/crude-oil-price-history-chart   https://tradingeconomics.com/united-states/average-hourly-earnings-yoy   https://www.bls.gov/ppi/home.htm   Disclosure:   The information provided on this podcast is for educational and informational purposes only and should not be construed as personalized investment, financial, tax, or legal advice.  The views expressed here are those of the hosts and guests and do not necessarily reflect the views of National Wealth Management Group, LLC or its affiliates. Investing involves risk, including the potential loss of principal. There is no guarantee that any investment strategy discussed will be successful or profitable. Past performance is not indicative of future results. Economic discussions are based on current data and opinions, which are subject to change and may not accurately predict future events. We encourage listeners to conduct their own research and seek guidance from a certified financial advisor before making any decisions. Advisory services are offered through National Wealth Management Group, LLC. For more information about National Wealth Management Group including our Forms ADV and CRS, please visit our website www.nwmgadvisors.com or contact us directly. To connect with Ben Jones or Brent Gargano directly, email us at [email protected].

Money Alchemist EP 51: What’s Next for U.S. Tariff Policy In Episode 51 of Money Alchemist, Ben and Brent dive into the shifting landscape of U.S. trade policy following a landmark Supreme Court decision. They break down the legalities of tariffs, analyze the real-world impact on consumer goods like the iPhone, and discuss why international markets are seeing a 2026 surge. About your Hosts Ben Jones, CFP® Managing Director, National Wealth Management Group www.nwmgadvisors.com Sign up for Ben’s newsletter at www.karatstick.com Follow him on X @thekaratstick https://www.linkedin.com/in/ben-nwmg/     Brent Gargano, CFP® Founder & Advisor, Infinite Wealth Planning www.infinitewealthplanning.com linkedin.com/in/brent-gargano-cfp®-2067b573 Comments or questions? Email us at [email protected]     Agenda: What’s happening now Market Shift: Cintrini Research report on AI’s impact on software sends ripples through the markets. International Growth: Total International Market index funds are up 10% so far in 2026. Geopolitical Tension: Monitoring the impact of ongoing violence in Mexico. Constitutional Ruling: The use of IEEPA to set tariff policy has been ruled unconstitutional.     Topic du jour - What’s Next for Tariffs The SCOTUS Decision: A 6-3 ruling deems the Executive Branch's use of IEEPA for broad tariffs unconstitutional under the Major Questions Doctrine. Trade Act of 1974 (Section 122): Understanding "balance of payments" authority—15% tariffs for 150 days (requires Congressional extension). Section 301 Investigations: How the U.S. Trade Representative determines unfair trade practices. National Security (Section 232): The Dept. of Commerce’s role in retaliation measures regarding national security threats. Trade Winners: Why Canada and Mexico are likely to benefit as "economic threat" cases become harder to prove. The China Impact: With $308.4 Billion in annual imports, is the impact of China tariffs being overstated? Case Study (iPhone 17 Pro Max): Despite a 125% tariff, the 2026 price remains steady at $1,199. Why haven't prices increased? Tip of the Week: Roast Your Own Coffee: Save money and improve quality by roasting at home. The SR800 Coffee Roaster by FreshRoast is a great entry-level option. Sourcing: Order green coffee beans directly from cooperatives like Green Coffee Collective or even via Amazon.   To connect with Ben Jones or Brent Gargano directly, email us at [email protected]. Disclosure: The information provided on this podcast is for educational and informational purposes only and should not be construed as personalized investment, financial, tax, or legal advice. The views expressed here are those of the hosts and guests and do not necessarily reflect the views of National Wealth Management Group, LLC or its affiliates. Investing involves risk, including the potential loss of principal. There is no guarantee that any investment strategy discussed will be successful or profitable. Past performance is not indicative of future results.     Tax planning strategies mentioned may not be suitable for everyone and could change due to updates in tax laws or regulations; always consult a qualified tax professional or CPA for advice tailored to your specific situation. Economic discussions are based on current data and opinions, which are subject to change and may not accurately predict future events. We encourage listeners to conduct their own research and seek guidance from a certified financial advisor before making any decisions. Advisory services are offered through National Wealth Management Group, LLC. For more information about National Wealth Management Group including our Forms ADV and CRS, please visit our website www.nwmgadvisors.com or contact us directly.

In Episode 50 of Money Alchemist, Ben and Brent cover market updates, a story about Warren Buffett and Berkshire Hathaway, and break down the most common tax myths that continue to confuse and stress investors.   About your Hosts    Ben Jones, CFP®  Managing Director, National Wealth Management Group  www.nwmgadvisors.com   Sign up for Ben’s newsletter at www.karatstick.com   Follow him on X @thekaratstick  https://www.linkedin.com/in/ben-nwmg/     Brent Gargano, CFP® Founder & Advisor, Infinite Wealth Planning   www.infinitewealthplanning.com  linkedin.com/in/brent-gargano-cfp®-2067b573    Comments or questions?  Email us at [email protected]   Agenda:  What’s happening in 10 minutes Superbowl highlights  S&P 500 up almost 2% YTD led by digital storage manufactures, with market breadth widening (consumer staples doing well) - MU contributing most YTD Low-hire, low-fire jobs report sign of cooling labor market and peak cycle Story - How Warren Buffett bought Berkshire Hathaway, a textile company  Topic du jour - Top 10 tax myths No requirement to file - only to pay - but always file (3-year statute of limitations begins upon filing) Extensions are NOT bad - in fact they can reduce your error rate and chance at audit  Tax deferral is not a no-brainer and can hurt investors - IRD assets do not pass tax-efficiently (Section 1014 - step-up in basis at death) Charitable contributions only help up to the first $1,000, but then cannot be deducted beyond this if using standard deduction Social Security is NOT tax free  Forms tell the whole story  Tax brackets apply across all income  Owning real estate can offset earned income Not discussed but intended: The income tax may go away because of tariff revenue There’s a secret loophole that the wealthy people use to dodge taxes Juicy Topics Jeffrey Epstein as a ‘tax-expert’ - what advice did he actually give and was it worth $158 million, as Leon Black paid him (note over annual & lifetime exemptions) Valuation discount abuse - what IRS permits (illiquidity discounts,  How rampant is fraud and do most people get away with it?  Illiquidity (DLOM), minority interest, key person, easements, etc Should attain a qualified appraisal      Tip of the Week:   Use your AI tool to plan vacations - very good results with Claud reported.  Describe your budget, the amount of people and makeup, travel preferences and originations.     Cohen Recycling:  did you know you can take all your used TVs/appliances to Cohen to have them recycled?  They will even pay for metal by weight.    Variable pricing protection - online retailers track you to maximize how much you will pay. Use VPNs and tracker blocking browsers like Brave to limit some of this - browse without logging in whenever possible.  Brave also blocks YouTube ads!       Sources: IRS Dirty Dozen: https://www.irs.gov/newsroom/dirty-dozen-tax-scams-for-2025-irs-warns-taxpayers-to-watch-out-for-dangerous-threats    National Debt Clock.org https://usdebtclock.org/     Disclosure:    The information provided on this podcast is for educational and informational purposes only and should not be construed as personalized investment, financial, tax, or legal advice.  The views expressed here are those of the hosts and guests and do not necessarily reflect the views of National Wealth Management Group, LLC or its affiliates. Investing involves risk, including the potential loss of principal. There is no guarantee that any investment strategy discussed will be successful or profitable. Past performance is not indicative of future results. Tax planning strategies mentioned may not be suitable for everyone and could change due to updates in tax laws or regulations; always consult a qualified tax professional or CPA for advice tailored to your specific situation. Economic discussions are based on current data and opinions, which are subject to change and may not accurately predict future events. We encourage listeners to conduct their own research and seek guidance from a certified financial advisor before making any decisions. Advisory services are offered through National Wealth Management Group, LLC. For more information about National Wealth Management Group including our Forms ADV and CRS, please visit our website www.nwmgadvisors.com or contact us directly. To connect with Ben Jones or Brent Gargano directly, email us at [email protected]. 

In this episode of Money Alchemist, Ben and Brent take a step back to examine the current American mood and what shifting consumer sentiment may signal for the broader economic landscape. They begin with a look at recent market activity, including a strong start to the month for stocks, evolving global trade conversations, and continued movement in precious metals. The discussion also touches on brand perception, geopolitical developments, and areas of strength emerging within equities. The main focus centers on the University of Michigan consumer sentiment survey, which currently reflects a reading of 56. Ben and Brent explore what this measure captures, why confidence matters, and how sentiment can influence economic behavior over time. The episode also includes a practical tip of the week featuring tools that support digital security and organization, followed by a well known story about Jim Carrey that serves as a reminder of the role belief can play in long term success. This discussion is for informational purposes only and does not constitute financial or investment advice. Subscribe for ongoing conversations about markets, planning, and long term thinking.   Segments: What’s happening - 10 min tops The Snowmagedon  1st month stocks positive so far  Tesla brand damage  Latest market events - 10 min Trade deal between Europe and India  Tensions over Greenland  Gold topping $5k / precious metals popping Smid rally  Topic du jour - 20 to 25 min U of M consumer sentiment survey Currently at reading of 56 Pull up on Y Charts Tip of the week - 5 min Firewalla  Browser favorite folders  End on inspiration story Young Jim Cary writes himself a $10M check   Sources https://www.sca.isr.umich.edu/files/featured-chart_large-906bd993.png   About your Hosts    Ben Jones, CFP®  Managing Director, National Wealth Management Group  www.nwmgadvisors.com   Sign up for Ben’s newsletter at www.karatstick.com   Follow him on X @thekaratstick  https://www.linkedin.com/in/ben-nwmg/     Brent Gargano, CFP® Founder & Advisor, Infinite Wealth Planning   www.infinitewealthplanning.com  linkedin.com/in/brent-gargano-cfp®-2067b573    Comments or questions?  Email us at [email protected]     Disclosure:    Investment advice offered through National Wealth Management Group, LLC.    All performance referenced is historical and is no guarantee of future results. All indices are unmanaged and may not be invested into directly.   The information presented is for educational and informational purposes only and is not intended as a recommendation or specific advice.

In this episode, we break down the "pretext" behind the legal pressure on Jerome Powell and analyze a surprise GDP beat. Then, we shift gears to our Topic de Jour: Goal Setting. If you want 2026 to be your best financial year yet, you need a framework that goes beyond simple resolutions. In this episode, we cover: The Holiday Recap: Catching up with Ben and Brent after the break. Geopolitical Shockwaves: The capture of Venezuelan President Maduro and its immediate impact on global oil prices. The Fed Under Siege: Why Jerome Powell is facing a Grand Jury over headquarters renovations and the "political pretext" involved. GDP & Tariffs: Analyzing the 4.3% Q3 GDP beat and how the shrinking trade deficit is driving growth. The Mortgage Market: Fannie Mae & Freddie Mac’s potential $200B purchase plan and what it means for the housing market. Topic De Jour: 2026 Goal Setting: How to use the SMART framework and end-result visualization to hit your targets. Listener Q&A: The guys take on your most pressing financial questions in the "Stump the Planner" challenge. Tip of the Week: A simple hack for Costco DoorDash gift cards. __ About Your Hosts Ben Jones, CFP® Managing Director, National Wealth Management Group Web: www.nwmgadvisors.com Newsletter: www.karatstick.com X: @thekaratstick LinkedIn: linkedin.com/in/ben-nwmg/ Brent Gargano, CFP® Founder & Advisor, Infinite Wealth Planning Web: www.infinitewealthplanning.com LinkedIn: linkedin.com/in/brent-gargano-cfp®-2067b573 Newsletter: Join Brent's Monthly Newsletter Comments or questions? Email us at [email protected] Team Members Trevor Gargano (The Digital QB) Email: [email protected] LinkedIn: linkedin.com/in/trevor-gargano-72727b67/ Web: TheDigitalQuarterback.com Follow Our Socials Support the podcast and see extra clips and announcements! Instagram: @moneyalchemistpod X: @moneyalchpod Facebook: The Money Alchemist Podcast     Disclosure Investment advice offered through National Wealth Management Group, LLC. All performance referenced is historical and is no guarantee of future results. All indices are unmanaged and may not be invested into directly. The information presented is for educational and informational purposes only and is not intended as a recommendation or specific advice.

What does 2026 hold for your wallet? In this episode, Brent and Ben conduct a "Topic de Jour" deep dive into their 2026 Financial Predictions. Following their successful 2025 forecast—where they correctly predicted the AI counter-revolution and the crypto bear market—the guys are looking ahead at the next big shifts in the global economy. From the Supreme Court tariff ruling to the AI trade fracturing, we break down why a diversified portfolio is your best defense in a shifting market. Plus, we discuss why the "Value Rotation" is finally here and what the Fed’s latest rate cuts mean for the "debasement trade." In this episode, you’ll learn: The 2025 Retrospective: What we got right (and the one thing we got wrong). AI’s "Human Counter-Revolution": Why the "froth" is breaking down and where the real value lies. Geopolitical Shifts: The potential China rebound and the impact of the House swinging Blue. The Isaac Newton Lesson: A historical cautionary tale about the smartest man in the room losing it all. Timestamps COMING SOON   About your Hosts    Ben Jones, CFP®  Managing Director, National Wealth Management Group  www.nwmgadvisors.com   Sign up for Ben’s newsletter at www.karatstick.com   Follow him on X @thekaratstick  https://www.linkedin.com/in/ben-nwmg/     __   Brent Gargano, CFP® Founder & Advisor, Infinite Wealth Planning   www.infinitewealthplanning.com  linkedin.com/in/brent-gargano-cfp®-2067b573  Join Brent's Monthly Newsletter: https://40221980.hs-sites.com/join-infinite-wealth-plannings-newsletter   Comments or questions?  Email us at [email protected]     __________________   Editor:   Trevor Gargano (The Digital QB) Email: [email protected] LinkedIn: https://www.linkedin.com/in/trevor-gargano-72727b67/ Website: TheDigitalQuarterback.com   ____________________________   Follow our socials to support the podcast; see extra clips and announcements!   Instagram: https://www.instagram.com/moneyalchemistpod/ X: https://twitter.com/moneyalchpod  Facebook: https://www.facebook.com/profile.php?id=61556458987483     Disclosure:    Investment advice offered through National Wealth Management Group, LLC.    All performance referenced is historical and is no guarantee of future results. All indices are unmanaged and may not be invested into directly.   The information presented is for educational and informational purposes only and is not intended as a recommendation or specific advice.  

This Week's Agenda: What’s happening in 10 min  Record Black Friday Sales 11.8B up 9.1% from 10.8B in 2024 (Adobe Analytics) Higher in-store component (1.7% up since last year) Alphabet surpasses Microsoft as 3rd most valuable company in the world Concept of circular financing dominating headlines Fed rate cut in December jumped to 80 - 85% Dec 9 - 10 Topic de jour - Is $140k the new poverty line? Listener Q&A -  What should I do if my computer/Mac has been compromised? Tip of the week https://www.auctionzip.com/   _____     About your Hosts    Ben Jones, CFP®  Managing Director, National Wealth Management Group  www.nwmgadvisors.com   Sign up for Ben’s newsletter at www.karatstick.com   Follow him on X @thekaratstick  https://www.linkedin.com/in/ben-nwmg/     __   Brent Gargano, CFP® Founder & Advisor, Infinite Wealth Planning   www.infinitewealthplanning.com  linkedin.com/in/brent-gargano-cfp®-2067b573  Join Brent's Monthly Newsletter: https://40221980.hs-sites.com/join-infinite-wealth-plannings-newsletter   Comments or questions?  Email us at [email protected]     __________________   Editor:   Trevor Gargano (The Digital QB) Email: [email protected] LinkedIn: https://www.linkedin.com/in/trevor-gargano-72727b67/ Website: TheDigitalQuarterback.com   ____________________________   Follow our socials to support the podcast; see extra clips and announcements!   Instagram: https://www.instagram.com/moneyalchemistpod/ X: https://twitter.com/moneyalchpod  Facebook: https://www.facebook.com/profile.php?id=61556458987483     Disclosure:    Investment advice offered through National Wealth Management Group, LLC.    All performance referenced is historical and is no guarantee of future results. All indices are unmanaged and may not be invested into directly.   The information presented is for educational and informational purposes only and is not intended as a recommendation or specific advice.

This Week's Agenda: What’s happening 10 min  50 year mortgage idea announced to unpopular fanfare  Bitcoin down 35% from highs, down 5% on the year.  Crypto markets erase over $1.1T in market cap.  Government shutdown hits 43 days, ended when House of Reps passed a continuing resolution that would make it through the Senate.  No BLS jobs data ever for period.   Michael Burry announcing major AI short on Palantir and NVDIA then closes hedge fund shortly thereafter  Topic de jour - top financial questions to bring up at Thanksgiving What investment should I buy? I need to reduce my taxes, how are all people doing this? The stock market is rigged, why should I bother? I hate the mortgage debt/payment and just want to pay it off, why shouldn’t I do that? My advisor has been recommending annuities, is that a good idea?   My friend/acquaintance has made so much money trading, where should I start? TikTocker/YouTuber says we’ve peaked.  Time to get out, the crash is coming.  The housing market is going to crash, terrible time to buy.  The US debt ($38T) is too great and the American dollar is going to collapse.  I’m buying gold.  Prove me wrong.  What about this AI bubble?  What’s that about?  Listener Q&A -  I’ve maxed out my 401(k) by summer and was told I might be missing out on company match.  Will I continue to get a company match? Tip of the week Learn how to login to your payroll portal and figure out split deposits https://www.auctionzip.com/ https://simplelogin.io/    _______   About your Hosts    Ben Jones, CFP®  Managing Director, National Wealth Management Group  www.nwmgadvisors.com   Sign up for Ben’s newsletter at www.karatstick.com   Follow him on X @thekaratstick  https://www.linkedin.com/in/ben-nwmg/    __ Brent Gargano, CFP® Founder & Advisor, Infinite Wealth Planning   www.infinitewealthplanning.com  linkedin.com/in/brent-gargano-cfp®-2067b573  Join Brent's Monthly Newsletter: https://40221980.hs-sites.com/join-infinite-wealth-plannings-newsletter   Comments or questions?  Email us at [email protected]    ___________________   Editor:   Trevor Gargano (The Digital QB) Email: [email protected] LinkedIn: https://www.linkedin.com/in/trevor-gargano-72727b67/ Website: TheDigitalQuarterback.com   ____________________________   Follow our socials to support the podcast; see extra clips and announcements!   Instagram: https://www.instagram.com/moneyalchemistpod/ X: https://twitter.com/moneyalchpod  Facebook: https://www.facebook.com/profile.php?id=61556458987483    Disclosure:    Investment advice offered through National Wealth Management Group, LLC.  All performance referenced is historical and is no guarantee of future results. All indices are unmanaged and may not be invested into directly. The information presented is for educational and informational purposes only and is not intended as a recommendation or specific advice.

Agenda What’s happening 10 min  Gov’t shutdown - no BLS employment data  Bitcoin now in bear market collapsing to below $100k  Michael’s Burry’s new big short  Healthcare premium inflation  Jester “Jack” Daniels - how he built an empire and did not survive to reap the reward  Topic de jour - Cost of healthcare for workers vs retirement, long-term care Listener Q&A -  I’ve maxed out my 401(k) by summer and was told I might be missing out on company match, will I continue to get a company match?   All my neighbors are putting their homes in a trust or giving them to their kids so the nursing home doesn’t take the money, should I do that?  Tip of the week Understand how you pay for a mortgage - not all refis are the same.   ___   Sources    https://communications.fidelity.com/wi/tools/retirement-health-care/ Healthsherpa.com  https://www.carescout.com/cost-of-care   _____   About your Hosts    Ben Jones, CFP®  Managing Director, National Wealth Management Group  www.nwmgadvisors.com   Sign up for Ben’s newsletter at www.karastick.com   Follow him on X @thekaratstick  https://www.linkedin.com/in/ben-nwmg/    __ Brent Gargano, CFP® Founder & Advisor, Infinite Wealth Planning   www.infinitewealthplanning.com  linkedin.com/in/brent-gargano-cfp®-2067b573  Join Brent's Monthly Newsletter: https://40221980.hs-sites.com/join-infinite-wealth-plannings-newsletter   Comments or questions?  Email us at [email protected]    ___________________   Editor:   Trevor Gargano (The Digital QB) Email: [email protected] LinkedIn: https://www.linkedin.com/in/trevor-gargano-72727b67/ Website: TheDigitalQuarterback.com   ____________________________   Follow our socials to support the podcast; see extra clips and announcements!   Instagram: https://www.instagram.com/moneyalchemistpod/ X: https://twitter.com/moneyalchpod  Facebook: https://www.facebook.com/profile.php?id=61556458987483    Disclosure:    Investment advice offered through National Wealth Management Group, LLC.  All performance referenced is historical and is no guarantee of future results. All indices are unmanaged and may not be invested into directly. The information presented is for educational and informational purposes only and is not intended as a recommendation or specific advice.

Agenda: What’s happening 10 min  All asset classes are up: bonds, stocks, precious metals, crypto  Valuations at ATH Brent’s new baby Equity flows from funds to bonds Crypto crunch in October - Bitcoin in corrective territory from ATH Tariff threat with China last week.  This week’s most interesting money story - Alfred Nobel 15 min Topic de jour - Open enrollment season - Optimize your choices 20 min Listener Q&A -  “We are buying a new home, what do we do with our old home.  Should we rent it out or sell it to fund goals or reduce the mortgage balance on the new home” Tip of the week Don’t use your HSA - defer it  Backup, Hidden savings of online delivery  529 plan payroll deduction  Resources: Employer Benefits Checklist: https://www.fppathfinder.com/checklists/respond/423a7a8d-e99e-4201-b7da-80e337855dce   About your Hosts    Ben Jones, CFP®  Managing Director, National Wealth Management Group  www.nwmgadvisors.com   Sign up for Ben’s newsletter at www.karastick.com   Follow him on X @thekaratstick  https://www.linkedin.com/in/ben-nwmg/    __ Brent Gargano, CFP® Founder & Advisor, Infinite Wealth Planning   www.infinitewealthplanning.com  linkedin.com/in/brent-gargano-cfp®-2067b573  Join Brent's Monthly Newsletter: https://40221980.hs-sites.com/join-infinite-wealth-plannings-newsletter   Comments or questions?  Email us at [email protected]    ___________________   Editor:   Trevor Gargano (The Digital QB) Email: [email protected] LinkedIn: https://www.linkedin.com/in/trevor-gargano-72727b67/ Website: TheDigitalQuarterback.com   ____________________________   Follow our socials to support the podcast; see extra clips and announcements!   Instagram: https://www.instagram.com/moneyalchemistpod/ X: https://twitter.com/moneyalchpod  Facebook: https://www.facebook.com/profile.php?id=61556458987483    Disclosure:    Investment advice offered through National Wealth Management Group, LLC.  All performance referenced is historical and is no guarantee of future results. All indices are unmanaged and may not be invested into directly. The information presented is for educational and informational purposes only and is not intended as a recommendation or specific advice.

This Weeks Topics: Enrollment and contribution best practices  Plan design - who these plans are optimized for  Fees, what they pay for How to collab with an advisor  Hidden secrets in the plan document  Recent policy changes that expand investment offering potential  _____   About your Hosts    Ben Jones, CFP®  Managing Director, National Wealth Management Group  www.nwmgadvisors.com   Sign up for Ben’s newsletter at www.karastick.com   Follow him on X @thekaratstick  https://www.linkedin.com/in/ben-nwmg/    _ Special Guest: Matt Heitman, CFA, CFP®, ChFC® Wealth Advisor, National Wealth Management Group www.nwmgadvisors.com  https://www.linkedin.com/in/matthew-e-heitman/     Comments or questions?  Email us at [email protected] Call us at 513-438-0095    Comments or questions?  Email us at [email protected]   ___________________   Editor:   Trevor Gargano Email: [email protected] LinkedIn: https://www.linkedin.com/in/trevor-gargano-72727b67/ Website: TheDigitalQuarterback.com   ____________________________   Follow our socials to support the podcast; see extra clips and announcements!   Instagram: https://www.instagram.com/moneyalchemistpod/ X: https://twitter.com/moneyalchpod  Facebook: https://www.facebook.com/profile.php?id=61556458987483    Disclosure:    Investment advice offered through National Wealth Management Group, LLC.    All performance referenced is historical and is no guarantee of future results. All indices are unmanaged and may not be invested into directly.   The information presented is for educational and informational purposes only and is not intended as a recommendation or specific advice.

Managing investment return expectations.   The truth behind terrible returns is a person that doesn’t quite understand market mechanics and how they tie into your financial goals.     Watch this episode now: https://www.youtube.com/channel/UCDMLU9XVm8Cd5c1-gWbk3VA   Sources: https://www.ramseysolutions.com/retirement/the-12-reality https://am.jpmorgan.com/content/dam/jpm-am-aem/global/en/insights/ltcma-2025-us-matrix_usd.pdf https://corporate.vanguard.com/content/corporatesite/us/en/corp/vemo/vemo-return-forecasts.html https://am.jpmorgan.com/us/en/asset-management/adv/insights/market-insights/guide-to-the-markets/   _______________ About your Hosts    Ben Jones, CFP®  Managing Director, National Wealth Management Group  www.nwmgadvisors.com   Sign up for Ben’s newsletter at www.karastick.com   Follow him on X @thekaratstick  https://www.linkedin.com/in/ben-nwmg/    __ Brent Gargano, CFP® Founder & Advisor, Infinite Wealth Planning   www.infinitewealthplanning.com  linkedin.com/in/brent-gargano-cfp®-2067b573    Comments or questions?  Email us at [email protected]   ___________________   Editor:   Trevor Gargano Email: [email protected] LinkedIn: https://www.linkedin.com/in/trevor-gargano-72727b67/ Website: TheDigitalQuarterback.com   ____________________________   Follow our socials to support the podcast; see extra clips and announcements!   Instagram: https://www.instagram.com/moneyalchemistpod/ X: https://twitter.com/moneyalchpod  Facebook: https://www.facebook.com/profile.php?id=61556458987483   ___________ Disclosure:    Investment advice offered through National Wealth Management Group, LLC.    Information in this podcast should not be construed as tax advice.  Consult with your tax professional for specific advice on your situation.    The information presented is for educational and informational purposes only and is not intended as a recommendation or specific advice.

Diversification is the foundation of most investment advice, but what if it's also the single greatest barrier to generating true, exponential wealth? In this episode, we challenge conventional wisdom and explore the high-risk, high-reward strategy of concentrated investing. We delve into how some of the world's most successful investors built fortunes not by spreading their capital thin, but by placing high-conviction bets on a few key assets. We’ll discuss the principles behind this approach, the deep research it requires, and why it's a strategy that can either lead to transformative wealth or significant loss. Join us as we explore whether the path to exponential returns lies in taking a different, more focused direction. ________ About your Hosts    Ben Jones, CFP®  Managing Director, National Wealth Management Group  www.nwmgadvisors.com   Sign up for Ben’s newsletter at www.karastick.com   Follow him on X @thekaratstick  https://www.linkedin.com/in/ben-nwmg/    __ Brent Gargano, CFP® Founder & Advisor, Infinite Wealth Planning   www.infinitewealthplanning.com  linkedin.com/in/brent-gargano-cfp®-2067b573    Comments or questions?  Email us at [email protected]   ___________________   Editor:   Trevor Gargano Email: [email protected] LinkedIn: https://www.linkedin.com/in/trevor-gargano-72727b67/ Website: TheDigitalQuarterback.com   ____________________________   Follow our socials to support the podcast; see extra clips and announcements!   Instagram: https://www.instagram.com/moneyalchemistpod/ X: https://twitter.com/moneyalchpod  Facebook: https://www.facebook.com/profile.php?id=61556458987483   ___________ Disclosure:    Investment advice offered through National Wealth Management Group, LLC.    Information in this podcast should not be construed as tax advice.  Consult with your tax professional for specific advice on your situation.    The information presented is for educational and informational purposes only and is not intended as a recommendation or specific advice.

A war of the classes  “It was the best of times, it was the worst of times”, so begins the famous novel Tale of Two Cities written in 1858.  Written by Charles Dickens, the motif of duality can easily be applied to our modern economy.   Throughout history, the state of mankind can generally be described as fitting someplace between bad and good.   The economy is either terrible or great, depending on who you ask.  It’s a subjective sentiment check more based on feelings colored by bias rather than material facts.  The Michigan Consumer Sentiment survey illustrates that respondents feel worse about our present day economic state as they did in the doldrums of the 2008-09 Great Financial Crisis. The perplexing disparity requires us to unpack layers of independent variables feeding data points like the Consumer Sentiment Index to better understand what is going on.  First, it’s important to acknowledge that winners and losers exist concurrently.  There is no economic condition in which all market participants are doing well or all are doing poorly.  We all function as independent cogs in the machine.  Some cogs receive more lubrication than others depending on their positioning in the mechanism.  It is undeniable that inflation is the rust deteriorating the function of smaller economic ‘inputs’.  Inflation exacerbates wealth disparity as asset prices accrete monetary premiums whilst prices for necessary goods and services devour greater portions of free cash flow.  A one-two punch for the middle and lower classes.  A big differentiator in 2008-09 is that most felt some degree of pain, even the wealthy.  For the first time in many generations, housing prices fell.  Stock and fixed income markets fell substantially more than a typical recession.  It was a great opportunity for those who played it safe, although many didn’t change their appetite for risk when the time was ripe. Today, the situation is grossly asymmetric.  Anyone who has achieved a financial escape velocity, a definition that is subjective but not representative of the majority, is doing quite well.  Those living paycheck to paycheck, not so much.   In fact, they may be doing worse than ever, relatively speaking.  Delinquencies are picking up across the board, with most of the increase concentrated in higher risk loans such as credit card and auto loans.  Recent revisions to the BLS establishment survey suggest that lower income earners may not be as well off as initially reported.   We tried to contact an external analyst to inform on the matter, however the department was recently sacked as part of a strategic efficiency initiative.  I assure you this is an isolated incident that has nothing to do with AI (it is most certainly AI).   Yet there has not been any meaningful deterioration in financial markets.  It has been quite the opposite with the S&P 500 kissing the 10%+ performance marker so far in 2025.  Housing prices have broadly moved higher with Zillow reporting a 0.4% YoY increase.  One could conclude that the economy is quite strong when looking solely at asset prices.   This then begs the question: does it matter?  To financial markets, no.  What matters is total spending, not the symmetry of value exchange.  To a stockholder, margins matter more than the quantity of widgets the customer receives.  It does matter for political and economic stability.  Resentment is building with an unknowable tolerance threshold and outcome potential.  Do the wealthy usher in a new age of economic dominance, dragging a disgruntled class of serfs like detritus?  Or can we expect an upheaval or even a renaissance of egalitarianism? Ben and Brent discuss this matter further and offer their insights on what could be going on, but more importantly, what to do about it.  Listen to Episode 38 of The Money Alchemist Podcast to join in on the conversation!  _______________ Sources: BLS Employee Situation Summary: https://www.bls.gov/news.release/empsit.nr0.htm   Zillow July 31, 2025 National Home Value Report: https://www.zillow.com/home-values/102001/united-states/   JPMorgan Guide to the Markets: https://am.jpmorgan.com/us/en/asset-management/protected/adv/insights/market-insights/guide-to-the-markets/   _______________ About your Hosts    Ben Jones, CFP®  Managing Director, National Wealth Management Group  www.nwmgadvisors.com   Sign up for Ben’s newsletter at www.karatstick.com   Follow him on X @thekaratstick  https://www.linkedin.com/in/ben-nwmg/    __ Brent Gargano, CFP® Founder & Advisor, Infinite Wealth Planning   www.infinitewealthplanning.com  linkedin.com/in/brent-gargano-cfp®-2067b573    Comments or questions?  Email us at [email protected]   ___________________   Editor:   Trevor Gargano Email: [email protected] LinkedIn: https://www.linkedin.com/in/trevor-gargano-72727b67/ Website: TheDigitalQuarterback.com   ____________________________   Follow our socials to support the podcast; see extra clips and announcements!   Instagram: https://www.instagram.com/moneyalchemistpod/ X: https://twitter.com/moneyalchpod  Facebook: https://www.facebook.com/profile.php?id=61556458987483   ___________ Disclosure:    Investment advice offered through National Wealth Management Group, LLC.    Information in this podcast should not be construed as tax advice.  Consult with your tax professional for specific advice on your situation.    The information presented is for educational and informational purposes only and is not intended as a recommendation or specific advice.  

News or Noise? In our fast-paced, 24/7 news cycle, it can feel like a financial advisor's credibility hinges on keeping up with every daily headline. A tweet from a prominent news host, a new market prediction, or a breaking story from CNBC can make an advisor who isn't up to speed feel discredited. The question of whether an advisor should be a news junkie is at the heart of today's episode. Ben and Brent explore their differing approaches to information consumption. Brent keeps the news on in the background, believing it's essential to have a pulse on market sentiment. Ben, on the other hand, believes that tuning out the daily noise is key to long-term strategic thinking. About your Hosts    Ben Jones, CFP®  Managing Director, National Wealth Management Group  www.nwmgadvisors.com   Sign up for Ben’s newsletter at www.karastick.com   Follow him on X @thekaratstick  https://www.linkedin.com/in/ben-nwmg/     Brent Gargano, CFP® Founder & Advisor, Infinite Wealth Planning   www.infinitewealthplanning.com  linkedin.com/in/brent-gargano-cfp®-2067b573    Comments or questions?  Email us at [email protected]    ___________________   Editor:   Trevor Gargano Email: [email protected] Linkedin: https://www.linkedin.com/in/trevor-gargano-72727b67/ Website: TheDigitalQuarterback.com   ____________________________   Follow our socials to support the podcast; see extra clips and announcements!   Instagram: https://www.instagram.com/moneyalchemistpod/ X: https://twitter.com/moneyalchpod  Facebook: https://www.facebook.com/profile.php?id=61556458987483     ___________ Disclosure:    Investment advice offered through National Wealth Management Group, LLC.    Information in this podcast should not be construed as tax advice.  Consult with your tax professional for specific advice on your situation.    The information presented is for educational and informational purposes only and is not intended as a recommendation or specific advice.

Some beauty is skin deep. Reinforcing a modern political trend, the One Big Beautiful Bill Act (OBBB) garnered only strict partisan support.  Carrying the timbre of our nation’s President, its name either strikes a nerve with unbearable annoyance or tickles the funny bone.  A dichotomy to define out times.  One many have grown weary of.     Now signed into law, few Americans are unaffected by its reach.  Even fewer still understand the full scope of its consequences.  The CBO estimates $2.4T – 3.3T will be added to the Federal deficit over the next decade while the White House claims a $1.4T deficit reduction over the same period with tariffs.  The appropriate way to view such estimates is with extreme suspicion.  Like the odds that an astronaut will land a hole-in-one from the wing of the International Space Station.  The CBO thinks they can do it.  The White House believes the earth and hole will be pulled into the gravity well of the ball.  It’s all haruspication. No one accurately forecasted our national debt a decade ago, currently sitting at $37T and counting.  Directionally, the CBO’s estimate is probably more correct given strong incentives for policy makers to deficit spend.  But who cares about something as banal as the national debt, we want the beautiful eye candy.  The OBBB does not disappoint in this aspect, delivering on promises of substantial tax relief for individual taxpayers.   This comes as no surprise as it was a major cornerstone of the current administration’s campaign and the necessary showpiece for public support.  Some of the major upgrades to the tax code include: Permanent extension of the lower Federal brackets passed as temporary relief for individual taxpayers in the TCJA (2017). Permanent doubling of the standard deduction with a doubling of the inflation adjustment for 2026. Permanent child tax credit of $2,200 per qualifying child (under 17), indexed for inflation. Permanent 20% deduction on Qualified Business Income (199A deduction). Permanently set the Federal estate tax exemption at $15M per individual with an inflation adjustment. Added the “Trump Account” for minors with a $5,000 annual contribution limit and one-time $1,000 Federal government contribution for babies born 2025 – 2028.  Added an additional $6,000 per person deduction on top of the standard deduction for taxpayers 65 and older, subject to phase outs. Charitable contributions up to $2,000 (MFJ) can now be taken even if the standard deduction is elected. Temporary tax relief on income earned through tips and overtime from 2026 through 2028 (phased out at $150k Single / $300k MFJ) Temporarily lifted the state and local income tax (SALT) deduction limit to $40k for households with an AGI of $500k or less, reverting to $10k with 1% annual inflation adjustment in 2030. There are more obscure updates made to the tax code in the 800+ page bill signed into law, but we’ve covered the highlights.  Much of it is still being digested by tax and legal firms and/or requires clarification from the IRS.  While we love eye candy, the beautification process is both complex and painstaking.  A principal that holds true in the application of this legislation.  All the ‘beautiful’ parts of the law require effort and guess who gets to apply the makeup? You.  True to form, policy makers have further complicated an already convoluted tax code.  The real winners are financial planners and full-service CPA firms, although the net effect is lower taxation across the board for most taxpayers.   So much for simplifying the tax code.  To offset the projected cuts in tax revenue, lawmakers looked to niche tax increases and spending cuts, specifically in Medicaid.  We need not cover one obvious source of additional tax revenue in 2025, tariffs, but other tax increases were included in the final Bill. For one, many university endowments will see their net investment income tax climb from 1.4% to as high as 8%.  Still lower than personal tax rates but an increase, nonetheless.  Second, AMT provisions were adjusted that will slightly increase the number of Americans subject to Alternative Minimum Tax.  Chances are it will not affect you unless a significant portion of your compensation comes from ISOs.  The ugly part of the legislation were the necessary cuts to welfare programs, Medicaid in particular.  It’s important to not conflate Medicaid with Medicare.  The two programs may share 6 out of 8 letters but are very different.  There are no cuts to Medicare or Social Security as part of the OBBB, which are the programs many retirees depend on.  The same is not true for Medicaid, which is the socially subsidized health insurance program for qualifying individuals living in the US.  Qualification status varies by state given each manages their Medicaid programs separately using Federal funding.  The OBBB establishes more strict qualification criteria than currently exist in most states.  The obvious effect is less individuals will qualify, hence the reduction in spending. Some estimate that as many as 10 million with be shifted off fully subsidized Medicaid plans to an uninsured status or partially subsidized ACA plans.  Regardless, it marks a notable shift in policy support for Federal redistribution programs.  Decrying the spending cuts may be cathartic to those standing in opposition, but it fails to properly consider the full scope of potential long-term consequences.  The most significant of which being an increased reliance on US Treasury bond sales to fund current and future spending.  Heavy reliance on debt to fund operations destabilizes currencies and the economies that use them.  So long as the dollar remains the world reserve currency, the appetite for its debt will remain quite high.  Even so, it’s not without drawbacks.   Deficit spending diverts inflation into financial assets, which will further exacerbate wealth disparities.  Marie Antoinette might have offered a more personal account on where this could lead but tragically, she lost her head during her exit interview.  More than ever, it’s important to save and invest to gain a footing on society’s social ladder.  There’s an idea for a portion of your tax savings.  You’ll certainly need it. For a more in-depth breakdown of the OBBB, listen to the latest episode of The Money Alchemist Podcast where we dig into the legislation.  Tax talk has never been this much fun!    ___________________   Show Reference:   Charitable Bunching using a DAF: https://www.karatstick.com/p/tis-the-season?utm_source=publication-search   ___________________     About your Hosts    Ben Jones, CFP®  Managing Director, National Wealth Management Group  www.nwmgadvisors.com   Sign up for Ben’s newsletter at www.karastick.com   Follow him on X @thekaratstick  https://www.linkedin.com/in/ben-nwmg/     Brent Gargano, CFP® Founder & Advisor, Infinite Wealth Planning   www.infinitewealthplanning.com  linkedin.com/in/brent-gargano-cfp®-2067b573    Comments or questions?  Email us at [email protected]     ___________________   Editor:   Trevor Gargano Email: [email protected] Linkedin: https://www.linkedin.com/in/trevor-gargano-72727b67/ Website: TheDigitalQuarterback.com   ____________________________   Follow our socials to support the podcast; see extra clips and announcements!   Instagram: https://www.instagram.com/moneyalchemistpod/ X: https://twitter.com/moneyalchpod  Facebook: https://www.facebook.com/profile.php?id=61556458987483   ____________________________   Disclosure:  Investment advice offered through National Wealth Management Group, LLC.  Information in this podcast should not be construed as tax advice.  Consult with your tax professional for specific advice on your situation.  The information presented is for educational and informational purposes only and is not intended as a recommendation or specific advice.  

Planning isn’t predicting. Some things in life are more exciting than others.  Most of us woke up on the 4th of July with a lighter step and enthusiastic anticipation for the day.  Fireworks, need we say more?  No one in their right mind sets a meeting with their financial planner to map out a savings strategy on such a day.   Just because something isn’t intuitively engaging doesn’t make it a waste of time.  Many things are like this: dental hygiene, exercise, study, failure, and constructive criticism to name a few.  Financial planning falls in the unfortunate category of Important but boring. The necessity of financial planning is so distressing that there are over 300,000 financial advisors employed in the United States alone to advocate for it.  Big money industry is a big money industry.   If financial planning were a waste of time, there would be no market to outsource the process to a professional.  Similarly, there’s no market for third-party food chewing services.  Teeth come naturally while capital markets, central banking, and macroeconomics do not.  Each of us is only given 24 hours in a day, 16 of which are waking and 12 are productive.  Dedicate 8 of these 12 productive hours to work and this leaves about 4 hours per day to employ yourself as required.   We don’t need to review the laundry list of life-chores, including laundry, to conclude that we Americans suffer from chronic time crunch.  Financial planning just seems like one of those things that can wait, perhaps indefinitely.  Some even go so far as to excuse it as a complete waste of time.  It can be if a broken process is used.  Mowing grass with an inoperable mower would certainly be a tragic waste of time.   Because the effort of planning is no small time-investment, consuming valuable personal motivation stores, it’s important to adopt an effective process.  Ben and Brent thought this would be a good topic to touch on.   In news that may come as shocking to the listener: the Financial Planners do not think financial planning, done correctly, is a waste of time.  The key is in process and execution, the focus of the episode’s discussion.      ____________________________   About your Hosts  Ben Jones, CFP®  Managing Director, National Wealth Management Group  www.nwmgadvisors.com   Sign up for Ben’s newsletter at www.karastick.com   Follow him on X @thekaratstick  https://www.linkedin.com/in/ben-nwmg/    __ Brent Gargano, CFP® Founder & Advisor, Infinite Wealth Planning   www.infinitewealthplanning.com  linkedin.com/in/brent-gargano-cfp®-2067b573    ____________________________ Editor:   Trevor Gargano Email: [email protected] Linkedin: https://www.linkedin.com/in/trevor-gargano-72727b67/ Website: TheDigitalQuarterback.com   ____________________________   Follow our socials to support the podcast; see extra clips and announcements!   Instagram: https://www.instagram.com/moneyalchemistpod/ X: https://twitter.com/moneyalchpod  Facebook: https://www.facebook.com/profile.php?id=61556458987483   ____________________________ Disclosure:  Investment advice offered through National Wealth Management Group, LLC.  All performance referenced is historical and is no guarantee of future results. All indices are unmanaged and may not be invested into directly.  The information presented is for educational and informational purposes only and is not intended as a recommendation or specific advice.

I will just say in general, I’ve said SO many times, 99% of you watching do not need a financial advisor.  You need someone like me to teach you step by step how to invest for yourself”.  So says Tori Dunlap, one of the many outspoken influencers brimming with financial opinions that cannot be contained. Like a bottle of Diet Coke shaken up by outside forces, the froth of conjecture can only go one way once an outlet is found.  There is no dialogue, only a microphone and a sermon.  A tough position from which to deliver advice on a uniquely complex topic like your finances.  Money, as with health, is situation specific.  There are fundamental truths for wealth building that are universally applicable for which nuance makes no difference.  Axioms like ‘underspend your means’ and ‘invest with patience’ being two examples.   For these axioms, the finfluencer impact on culture is quite valuable.  Saving should be encouraged as should a low time-preference mindset.  We need to be reminded from time to time to reinforce sound money behaviors that challenge our discipline.   But make no mistake, the influencer’s advice may be worth less than you pay for it.  It’s not as if these individuals are paragons of altruism responding to a higher calling.  Otherwise, they wouldn’t have monetized channels.   “You need someone like me…”, should be interpreted as “you need me”.  I wonder why?   With little to no access barriers, online financial advice has become the go-to source for many, especially our younger generations.  Understandably so.  Who wants to spend money on something that can be procured for free? Popular influencers demonstrate a degree of social proof as they flex their follower counts and video download statistics.  Surely this translates to workable solutions for the masses!   It works until the details you can’t decipher start to matter.  And that’s if you’re lucky enough to follow a finfluencer that isn’t a complete charlatan.  The risk of misadvice is higher online.   There’s absolutely no consumer protections if you happen to follow advice disseminated by such channels as they generally fall under the Publisher Exclusion (Section 202(a)(11)(D) of the Investment Advisors Act of 1940).  As proponents of financial wellness, Ben and Brent encourage the accumulation of knowledge to this end.  They discuss the pros and cons of finfluencers, how what they do is different and how a good advisor can compliment your favorite influencer(s).  The most important takeaway is to maintain an ability to think critically.  Inspect any recommendation with too broad an application.  Statements like “99% of you should …” are red flags.   Having analyzed thousands upon thousands of individual scenarios, Ben and Brent can attest that no situation is alike.  Your mom said you were special, and you are.     Sources:   On The Rise of Finfluencers https://www.aboutschwab.com/mss/story/the-rise-of-finfluencers https://www.wsj.com/personal-finance/stock-market-social-media-financial-influencers-c41c4456   Finfluencer Hot Takes https://www.youtube.com/watch?app=desktop&v=6IQsSuYagrI   ____________________________   About your Hosts    Ben Jones, CFP®  Managing Director, National Wealth Management Group  www.nwmgadvisors.com   Sign up for Ben’s newsletter at www.karastick.com   Follow him on X @thekaratstick  https://www.linkedin.com/in/ben-nwmg/    _____   Brent Gargano, CFP® Founder & Advisor, Infinite Wealth Planning   www.infinitewealthplanning.com  linkedin.com/in/brent-gargano-cfp®-2067b573    ____________________________   Editor:   Trevor Gargano Email: [email protected] Linkedin: https://www.linkedin.com/in/trevor-gargano-72727b67/ Website: TheDigitalQuarterback.com   ____________________________   Follow our socials to support the podcast; see extra clips and announcements!   Instagram: https://www.instagram.com/moneyalchemistpod/ X: https://twitter.com/moneyalchpod  Facebook: https://www.facebook.com/profile.php?id=61556458987483   ____________________________      Disclosure:    Investment advice offered through National Wealth Management Group, LLC.  All performance referenced is historical and is no guarantee of future results. All indices are unmanaged and may not be invested into directly.  The information presented is for educational and informational purposes only and is not intended as a recommendation or specific advice. 

The average child spends about eight hours a day in front of a video screen.  We’ve now seen a generation of children raised on a digital cocktail of social media, video games, and streaming services.  A panoramic window into the world, algorithmically tuned for your child’s wants and subconscious desires.  Ferraris turn more heads than Hondas, a human preference so intrinsic that it shows up in children.  And wealth is more attractive than knowledge.  Countless hours of affluence are processed by brains that can’t even comprehend a simple cash flow statement.  We’ve all encountered the proverbial trust fund baby with more money than sense and think, ‘what went wrong’? The grunge of teen spirit cannot be washed away with money.  It must be bathed in lessons hard learned under watchful guidance.   Even then, the stink of poor choices persists as potent reminders that the stakes are real.  Guidance is the key.  What form this guidance takes is debatable and can vary depending on the child or situation.   Ben and Brent argue their approaches to how we should introduce our children to wealth.  Their approaches vary, demonstrating that there is no one ‘correct’ path, but branching paths.  The objective should be to move on those paths that chart in the generally correct direction.   Ben prefers the use of UTMA (Uniform Transfers to Minors Act) account as a training ground with a liberal degree child responsibility while Brent favors a more conservative tact with tighter controls.   It’s a lively discussion, and we are curious to find out where you stand on the subject.  What age do you think your kids would be ready to handle a meaningful sum of capital?   Send comments, questions, and requests for show contents to [email protected] or [email protected]!    ____________________________   Sources: Cost of College over Time: https://nces.ed.gov/programs/digest/d21/tables/dt21_330.10.asp ‘Trump’ Accounts: https://www.cnbc.com/2025/05/22/tax-bill-maga-baby-bonus-now-called-trump-accounts-who-is-eligible.html   ____________________________   About your Hosts    Ben Jones, CFP®  Managing Director, National Wealth Management Group  www.nwmgadvisors.com   Sign up for Ben’s newsletter at www.karastick.com   Follow him on X @thekaratstick  https://www.linkedin.com/in/ben-nwmg/     ___     Brent Gargano, CFP® Founder & Advisor, Infinite Wealth Planning   www.infinitewealthplanning.com  Connect With Brent -> linkedin.com/in/brent-gargano-cfp®-2067b573    ____________________________   Editor:   Trevor Gargano Email: [email protected] Linkedin: https://www.linkedin.com/in/trevor-gargano-72727b67/ Website: TheDigitalQuarterback.com   ____________________________   Follow our socials to support the podcast; see extra clips and announcements!   Instagram: https://www.instagram.com/moneyalchemistpod/ X: https://twitter.com/moneyalchpod  Facebook: https://www.facebook.com/profile.php?id=61556458987483   ____________________________      Disclosure:    Investment advice offered through National Wealth Management Group, LLC.  All performance referenced is historical and is no guarantee of future results. All indices are unmanaged and may not be invested into directly.  The information presented is for educational and informational purposes only and is not intended as a recommendation or specific advice.

The American proverb “you get what you pay for” is well understood but not commonly applied.  Nowhere is this made more abundantly clear than in the food services industry, where people line up for cheap, borderline toxic calorie bombs to satiate their immediate cravings.   One should not ask why healthy food is so expensive but why fast food is so cheap.  The idea that a drive thru diet is lower cost is an illusion once you factor in the long-term health consequences of indulgence.   This gets to the root of the question Ben and Brent discuss in today’s episode: where can we find the biggest rip offs in investing and how can we avoid them?   Everyone loves a deal almost as much as they love themselves. This makes us susceptible to overconfidence errors in economic assessment.   We find this to be especially true when it comes to purchasing financial advice. It’s also true that shopping for financial services is a highly variable experience with a non-zero chance of major trouble.   It’s difficult to price the value of an advisor but that doesn’t stop us from trying.  The simplest interpretation is to think of a financial advisor as a stock picker - someone who can help you garner an edge.   False.  In fact, if this is the pitch then that is the first sign that your non-zero chance of major trouble is now closer to 50/50.  If you want an edge, run for congress. We hear they have a legal insider information scheme going on.   Pinpointing the value of an adviser is a nuanced subject that requires discussion.  As Shrek would say, it has layers.  If you're shopping for advice or just wondering what high-quality advice should look like, this episode is for you!      About your Hosts    Ben Jones, CFP®  Managing Director, National Wealth Management Group  www.nwmgadvisors.com   Sign up for Ben’s newsletter at www.karastick.com   Follow him on X @thekaratstick  https://www.linkedin.com/in/ben-nwmg/      __   Brent Gargano, CFP® Founder & Advisor, Infinite Wealth Planning   www.infinitewealthplanning.com  Connect With Brent -> linkedin.com/in/brent-gargano-cfp®-2067b573    ____________________     Editor: Trevor Gargano Email: [email protected] Linkedin: https://www.linkedin.com/in/trevor-gargano-72727b67/ Website: TheDigitalQuarterback.com   ____________________   Follow our socials to support the podcast; see extra clips and announcements!   Instagram: https://www.instagram.com/moneyalchemistpod/ X: https://twitter.com/moneyalchpod  Facebook: https://www.facebook.com/profile.php?id=61556458987483   ____________________       Disclosure:  Investment advice offered through National Wealth Management Group, LLC.  All performance referenced is historical and is no guarantee of future results. All indices are unmanaged and may not be invested into directly.  The information presented is for educational and informational purposes only and is not intended as a recommendation or specific advice. 

Warren Buffett to Retire As CEO of Berkshire Hathaway  When a person lives to the wise age of 94 and accumulates a networth of $168B, people tend to think he has some important things to say.  Nearly 20,000 Berkshire shareholders gathered in Omaha Nebraska on May 3rd to hear the resident Oracle speak live.  The annual tableau is something to behold.  Thankfully there’s YouTube.   What does the 5th richest man in the world know about regular living?  As it turns out, quite a bit.  It can be easy to dismiss the musings of a billionaire as disconnected and not applicable to the life of a plebian, but Warren Buffet should not be ignored.  Not unless you are allergic to sagacious elements.   Here are just a few of the takeaways we garnered from tuning in: Buffett has served under 5 managers during his life and he admired them all - he did not suffer people he didn’t respect.  He maintains a keen awareness of the time he has left and invests it with judiciousness  The sillier people get (in the market), the better the opportunity.  Market volatility is nothing to worry about.  Wouldn’t bother him if Berkshire dropped by 50% and would consider it a fantastic opportunity. Read every book about investing available to him in the library as a child, discovering his talents and investing at an early age. It’s difficult to take the position that people get what they deserve in life.  But American society manages to get closer to this ideal than anywhere else.   Patience is an important trait for prudent investing.  Most of the time, you do not have an edge and you will only have a handful of opportunities in life where that’s not the case - best not to miss those.  For more than 4 hours, the 94 year-old CEO spit wisdom from his unpretentious throne, proving once again why he’s America’s most respectable rich guy for a reason.  He dashed the dreams of a few admirers, hoping to catch the corner of his slipstream by shortcut.   Then he dropped a bomb announcing his retirement at year end.  While the stock initially dropped in response, the transition will likely be written about as exemplary in future business textbooks.  You don’t have to mirror Warren’s success to set yourself up for a meaningful life.  He is a wonderful creation of auspicious birthright, talent, timing and obsession.  A product of his time that cannot be replicated.   Charlie Munger, Warren’s late friend and longtime business was once asked something to the effect of, “Mr. Munger, how can I be a successful investor like you?”.  Munger’s response was, in a matter of words, “Well, I can tell you what I wasn’t doing.  I wasn’t standing around asking people like me how to do it.”   Both hilarious and accurate.  I can see why he and Warren were successful and best friends.   Live your life to the best of your ability by taking every opportunity given you.  Soak up the abundant wisdom freely given from the people you admire.  It may just equip you to see your path more clearly.   Hopefully this episode can give you just a little bit of that as we discuss the life and success of Warren Buffett.   ____________________ About your Hosts  Ben Jones, CFP®  Managing Director, National Wealth Management Group  www.nwmgadvisors.com   Sign up for Ben’s newsletter at www.karastick.com   Follow him on X @thekaratstick  https://www.linkedin.com/in/ben-nwmg/    __ Brent Gargano, CFP® Founder & Advisor, Infinite Wealth Planning   www.infinitewealthplanning.com  Connect With Brent -> linkedin.com/in/brent-gargano-cfp®-2067b573    ____________________     Editor: Trevor Gargano Email: [email protected] Linkedin: https://www.linkedin.com/in/trevor-gargano-72727b67/ Website: TheDigitalQuarterback.com   ____________________   Follow our socials to support the podcast; see extra clips and announcements!   Instagram: https://www.instagram.com/moneyalchemistpod/ X: https://twitter.com/moneyalchpod  Facebook: https://www.facebook.com/profile.php?id=61556458987483   ____________________   Disclosure:  Investment advice offered through National Wealth Management Group, LLC.  All performance referenced is historical and is no guarantee of future results. All indices are unmanaged and may not be invested into directly.  The information presented is for educational and informational purposes only and is not intended as a recommendation or specific advice.

Too low to sell, too cash poor to buy the dip.  So laments an X user over this past week as he describes his current state of financial affairs.  No one wants to be a sucker yet prudent investing requires that you subject yourself to the fickle whims of the market - all in. It’s hard not to feel like a sucker when you buy something only to watch it go on sale the next day.  Unlike Costco, financial markets will not retroactively match pricing (for retail investors).  This leads to a tendency to hold unproductive cash, waiting for an elusive signal for the lowest low.  Only then can we brag to our spouse that we’re better than everyone else.  Catching the bottom seems like it's a critical component of investment success.  Pulling it off with style can even garner celebrity status and a possible Netflix deal.   Having personally worked with hundreds of households over my two decade career, many of which have built substantial wealth, not a single success story can pinpoint buying a dip as its primary contributor.  In fact, reserving idle cash for timed purchases hurts long-term results.   Most years are positive in the stock market.  Most trading days result in positive returns.  It stands to reason that a diversified equity portfolio, if left alone, will produce positive results.  Cash, on the other hand, will only produce a return equivalent to the prevailing 3-month T-Bill less a spread or a fee. This is usually close to the CPI stated rate of inflation.   The delta between cash vs investment returns grows exponentially over time.  Failure to catch a bottom results in underperformance, and that is usually the outcome.  But at least this underperformance feels good in times like these.   In fact, it feels so good that we often don’t pull the trigger when we should.  Exactly zero normal people like getting out of a warm bed on a cold winter day.  Yet, this is what success mandates.  The markets feel ice cold right now because this is the media sentiment.   I read and watch the same drivel you do, this article excluded or course.  Most of it is pregnant with depressionary nostalgia.  “Levels not seen since 1928!” Like my children, surprised when bedtime happens every night, investors act as if they are reading hyperbole as fact for the first time ever.   This is your signal.  This is when you buy and you will NOT catch the bottom.  That requires clairvoyance, luck or enough capital to synthesize market movements.  Apply within if you have any of the above.   Progress on the path to wealth is made through consistent adherence to strategy.  Like putting one leg in front and then the next, it is patient and without overthinking.  So too should be your investing strategy.   There are situations in which you might find yourself with lump sums of cash when markets are down.  This is a good position to be in!  Join us as we discuss what to do in these situations, as well as for some timely market prognosis!    Reference Links: J.P. Morgan Guide to the Markets - PE Ratios & Equity Returns T.Rowe Price - The Cost of Cashing Out Vanguard - Staying the Course ____ About your Hosts  Ben Jones, CFP®  Managing Director, National Wealth Management Group  www.nwmgadvisors.com   Sign up for Ben’s newsletter at www.karastick.com   Follow him on X @thekaratstick  https://www.linkedin.com/in/ben-nwmg/  ___ Brent Gargano, CFP® Founder & Advisor, Infinite Wealth Planning   www.infinitewealthplanning.com  Connect with Brent --> linkedin.com/in/brent-gargano-cfp®-2067b573    ______   Editor   Trevor Gargano Email: [email protected] Linkedin: https://www.linkedin.com/in/trevor-gargano-72727b67/ Website: TheDigitalQuarterback.com ______   Follow our socials to support the podcast; see extra clips and announcements!   Instagram: https://www.instagram.com/moneyalchemistpod/ X: https://twitter.com/moneyalchpod  Facebook: https://www.facebook.com/profile.php?id=61556458987483 ______     Disclosure:  The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.   Advisors associated with National Wealth Management Group may be either (1) registered representatives with, and securities offered through LPL Financial, Member FINRA/SIPC, and investment advisor representatives of National Wealth Management Group; or (2) solely investment advisor representatives of National Wealth Management Group, and not affiliated with LPL Financial. Investment advice offered through National Wealth Management Group, a registered investment advisor and separate entity from LPL Financial.  All performance referenced is historical and is no guarantee of future results. All indices are unmanaged and may not be invested into directly.  The information presented is for educational and informational purposes only and is not intended as a recommendation or specific advice.     

Fitful swings in equity and bond markets this past week have wrecked more sleepful nights than drunk neighbors on Independence Day.  What can be done? The NASDAQ hourly chart resembles an EKG reading of a fibrillating heartbeat.  Some fear this could be the heartbeat of the new American economy.  Treasury Scott Bessent has been making the rounds on numerous media outlets with defibrillator pads at the ready.  Perhaps the cold plunge into the tariff pool may have been too much for prediabetic markets accustomed to a diet of loose fiscal policy.  Financial stimulus is as addicting as sugar, so say the economists.   Though positive outcomes could arise out of the tariff negotiations, there are too many hands in the till that benefit from the status quo.  Change is unwelcome when large sums of money are involved.    Even the benchmark 10-year Treasury has come under attack with yields increasing by approximately 50 basis points.  Strange for the sudden shift in risk-off sentiment.   Almost as if a sovereign bond holder were dumping T-Bonds to apply strategic pressure on Washington D.C.  But that is just silly speculation.  Something is different about this selloff, but the principles of investing remain.    Equity markets often temporarily decouple from their long-term fundamental purpose, which is to value the progress of human innovation, growth and trade.  We can see equity markets plunge regularly by -10% or more.  In fact, this happens most years.   Bear markets occur every 5 years, on average.  And yet, a recovery has never failed to materialize.   What happens next is not without precedent.  We believe it will be no different, despite cries to the contrary.  Remember, hyperbole is usually wrong and this is why we call it hyperbole.  The news demands your attention and will go to great lengths to get it.  Balance out your newsfeed with Ben and Brent as they dive further into this topic.  They discuss tariffs, recession worries, history of America’s major bear markets, and what to expect next.     ______   About Your Hosts    Ben Jones  Managing Director, National Wealth Management Group  www.nwmgadvisors.com   Sign up for Ben’s newsletter at www.karastick.com   Follow him on X @thekaratstick  https://www.linkedin.com/in/ben-nwmg/    ____   Brent Gargano, CFPⓇ  Founder & Advisor, Infinite Wealth Planning   Brent's Website --> www.infinitewealthplanning.com  Connect with Brent on Linkedin - > linkedin.com/in/brent-gargano-cfp®-2067b573  Sign Up For Brent's Newsletter -- > https://share.hsforms.com/1maVO0YZ0T3uIA80kyeGi1Any3h8    ______   Editor   Trevor Gargano Email: [email protected] Linkedin: https://www.linkedin.com/in/trevor-gargano-72727b67/ Website: TheDigitalQuarterback.com ______   Follow our socials to support the podcast; see extra clips and announcements!   Instagram: https://www.instagram.com/moneyalchemistpod/ X: https://twitter.com/moneyalchpod  Facebook: https://www.facebook.com/profile.php?id=61556458987483 ______     Disclosure:  The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.   Advisors associated with National Wealth Management Group may be either (1) registered representatives with, and securities offered through LPL Financial, Member FINRA/SIPC, and investment advisor representatives of National Wealth Management Group; or (2) solely investment advisor representatives of National Wealth Management Group, and not affiliated with LPL Financial. Investment advice offered through National Wealth Management Group, a registered investment advisor and separate entity from LPL Financial.  All performance referenced is historical and is no guarantee of future results. All indices are unmanaged and may not be invested into directly.  The information presented is for educational and informational purposes only and is not intended as a recommendation or specific advice. 

America’s least favorite day is quickly approaching in a little over two weeks.  Millions scramble to frantically count their beans while the oppressive Eye of ‘Providence’ lords over them.   April 15 may usher in the Spring with all its good vibes, longer days, and the smell of outdoor barbecues with freshly cut grass.  But it also marks a cumulative day of stress with the unholy combination of a strict deadline with complex accounting that exposes the consequences of last year’s financial decisions.   The instinct is to bum rush the problem with brute force intensity, outsourcing as much work as possible to caffeine tweaked accountants.  Mistakes are made, and tempers are bound to flare.  Let 2025 be the year you get ahead of the problem.   Good tax planning is a year-long process and Ben and Brent discuss what this entails.  They highlight several common areas where they see mistakes so you can avoid them.  The overarching message is to not rely on your accountant, accounting software, and definitely not the IRS to catch errors on your return.   While tax calculations are formulaic, the results are only as accurate as the input.  The art of tax planning involves optimizing and confirming accuracy of the inputs over all relevant tax years.  It's a great way your financial advisor can add value!  Topics discussed include: What is a 1040? Components of a tax return?  Planning opportunities along the tax return: Maximizing above the line deductions, retirement plans, corporate benefits Business deductions, strategic planning done to reduce taxable income Back door Roth IRA - Roth  Capital gains - which bracket are you in? Strategic ways to use gains/losses Being aware of itemized vs standard deduction, can you “bunch”?  Estimated payments, how does it work and opportunities to take advantage Borrowing from appreciated assets to defer tax - like the billionaires  What are some of the common elements we see in client tax returns that are “high risk”? Don’t assume the tax return tells the whole story  Back door Roth IRA’s - easily reported incorrectly  RSU’s - underwithholding issues and basis reporting issues QCD’s incorrectly reported Things that don’t even generate a tax form (estimated payments) Looking to the future - TCJA expiration in 2026 and possible tax outcomes    ______   About Your Hosts    Ben Jones  Managing Director, National Wealth Management Group  www.nwmgadvisors.com   Sign up for Ben’s newsletter at www.karastick.com   Follow him on X @thekaratstick  https://www.linkedin.com/in/ben-nwmg/    ____   Brent Gargano, CFPⓇ  Founder & Advisor, Infinite Wealth Planning   www.infinitewealthplanning.com  linkedin.com/in/brent-gargano-cfp®-2067b573  Read Brent's latest newsletter --> https://40221980.hs-sites.com/infinite-wealth-plannings-february-newsletter-is-live?ecid=&utm_source=hs_email&utm_medium=email&_hsenc=p2ANqtz-_Efdxwvp3oso7SBWpKxOU7Rxa0wru_6V-AGrl_LgK7QRQR8XQhfQHlOLqA4xUUUKt9_Phs Sign Up For Brent's Newsletter -- > https://share.hsforms.com/1maVO0YZ0T3uIA80kyeGi1Any3h8    ______   Editor   Trevor Gargano Email: [email protected] Linkedin: https://www.linkedin.com/in/trevor-gargano-72727b67/ Website: TheDigitalQuarterback.com ______   Follow our socials to support the podcast; see extra clips and announcements!   Instagram: https://www.instagram.com/moneyalchemistpod/ X: https://twitter.com/moneyalchpod  Facebook: https://www.facebook.com/profile.php?id=61556458987483 ______   Disclosure:  The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.   Advisors associated with National Wealth Management Group may be either (1) registered representatives with, and securities offered through LPL Financial, Member FINRA/SIPC, and investment advisor representatives of National Wealth Management Group; or (2) solely investment advisor representatives of National Wealth Management Group, and not affiliated with LPL Financial. Investment advice offered through National Wealth Management Group, a registered investment advisor and separate entity from LPL Financial.  All performance referenced is historical and is no guarantee of future results. All indices are unmanaged and may not be invested into directly.  The information presented is for educational and informational purposes only and is not intended as a recommendation or specific advice. 

The first few months of 2025 have produced mixed results for US equities.  Despite efforts to coax out the full economic potential of the U.S., domestic markets have lacked confidence.  Meanwhile, ‘safe haven’ assets such as Treasury Bonds and international stocks have broadly rallied.    They say it’s been the worst start to a year since, well, 2022.    With a ballooning Federal deficit and the potential for a more competitive overseas trade environment, recent moves seem a bit counter intuitive.   The prevailing fear is that prolonged trade negotiations could discourage domestic capital deployment, thus triggering a cascade of negative consequences.    The concern that tariffs will trigger another wave of uncomfortable inflation, while possible, is overblown.  Especially considering the recent March 14 reading of CPI-U at 0.2% (2.43% annualized), a drop in energy prices and a modest decline in longer-term rates.    It is reasonable for equity investors to experience a correction of –20% or more from highs once every four years on average. This happens when FUD (fear, uncertainty and doubt) dominates sentiment.  International market valuations relative to US have been historically cheap with the S&P 500 coming off two back-to-back years of double-digit rallies.   It is easier to turn an ankle stepping off first-place podium.    So, is that it?  Is the US no longer top contender?  The Atlanta Fed’s GDPNow model revised its annualized growth in the current quarter from +2.3% to –2.4%.  Keynesian free-trade fanatics are busy prostrating themselves on camera to abash any with a notion that tariffs could be a means to a positive end.    All I can say is that it’s possible and they could be right.  I offer no guarantees but remind you that we’ve been down scarier roads than this one.  Yet here we are, living better than kings not so long ago.    Not kings today.  Charles has it pretty good.   I invite you to join Brent and I as we elaborate on this topic.   We discuss current markets, what we should be doing in response to these downturns and what you should be hearing from your advisor.    __   We would appreciate it if you could follow our podcast and give it a five-star rating! This supports us in reaching a wider audience, allowing us to assist more individuals in their financial learning journey.     ______   About Your Hosts   Ben Jones Managing Director, National Wealth Management Group www.nwmgadvisors.com  Sign up for Ben’s newsletter at www.karastick.com  Follow him on X @thekaratstick https://www.linkedin.com/in/ben-nwmg/   ____   Brent Gargano, CFPⓇ Founder & Advisor, Infinite Wealth Planning  www.infinitewealthplanning.com linkedin.com/in/brent-gargano-cfp®-2067b573 Read Brent's latest newsletter --> https://40221980.hs-sites.com/infinite-wealth-plannings-january-newsletter-is-live-1?ecid=&utm_source=hs_email&utm_medium=email Sign Up For Brent's Newsletter -- > https://share.hsforms.com/1maVO0YZ0T3uIA80kyeGi1Any3h8   ______   Editor   Trevor Gargano Email: [email protected] Linkedin: https://www.linkedin.com/in/trevor-gargano-72727b67/ Website: TheDigitalQuarterback.com ______   Follow our socials to support the podcast; see extra clips and announcements!   Instagram: https://www.instagram.com/moneyalchemistpod/ X: https://twitter.com/moneyalchpod  Facebook: https://www.facebook.com/profile.php?id=61556458987483   ______   Disclosure:   The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.  Advisors associated with National Wealth Management Group may be either (1) registered representatives with, and securities offered through LPL Financial, Member FINRA/SIPC, and investment advisor representatives of National Wealth Management Group; or (2) solely investment advisor representatives of National Wealth Management Group, and not affiliated with LPL Financial. Investment advice offered through National Wealth Management Group, a registered investment advisor and separate entity from LPL Financial. ​The information presented is for educational and informational purposes only and is not intended as a recommendation or specific advice.

The engagement farmers masquerading as prognosticators have been busy this month!  There’s so much doom to talk about.  It’s all so very exciting, and you need to tune in.  Ignoring the information so you don’t miss a perfectly timed nugget of information that will cost you everything.  Even so, three months later we’ll forget the stress of today like it was our first dirty diaper.  We’ll move onto new stressors with potentially world-ending consequences.  A constant attack on our psyche, forever testing our tenacity.  Give in now and you just may avoid a black swan catastrophe, only at the cost of building wealth.   Resilience in the face of uncertainty is a necessary tenet of investing.  Weak hands build fragile bridges to success.  The tiniest of quakes precedes a long swim in a river of regret.  This pullback could become a correction, then a bear market.   Crypto investors are more modern and efficient.  They skip the first two steps and go straight into a bear market.   It should only matter to you if you have a concrete plan for the money and that plan will execute in the near future.  Otherwise, hold fast.  Of course, this assumes you began with a sensible allocation.  Garbage investments usually deteriorate into a tax writeoff no matter how patient you are.   Join your Money Alchemists hosts for an engaging conversation about the state of markets, volatility, the fundamentals of investing and what you should be doing to keep your strategy moving forward.    ______   About Your Hosts   Ben Jones Managing Director, National Wealth Management Group www.nwmgadvisors.com  Sign up for Ben’s newsletter at www.karastick.com  Follow him on X @thekaratstick https://www.linkedin.com/in/ben-nwmg/   ____   Brent Gargano, CFPⓇ Founder & Advisor, Infinite Wealth Planning  www.infinitewealthplanning.com linkedin.com/in/brent-gargano-cfp®-2067b573 Read Brent's latest newsletter --> https://40221980.hs-sites.com/infinite-wealth-plannings-january-newsletter-is-live-1?ecid=&utm_source=hs_email&utm_medium=email Sign Up For Brent's Newsletter -- > https://share.hsforms.com/1maVO0YZ0T3uIA80kyeGi1Any3h8   ______   Editor   Trevor Gargano Email: [email protected] Linkedin: https://www.linkedin.com/in/trevor-gargano-72727b67/ Website: TheDigitalQuarterback.com ______   Follow our socials to support the podcast; see extra clips and announcements!   Instagram: https://www.instagram.com/moneyalchemistpod/ X: https://twitter.com/moneyalchpod  Facebook: https://www.facebook.com/profile.php?id=61556458987483   ______   Disclosure:    The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.  Advisors associated with National Wealth Management Group may be either (1) registered representatives with, and securities offered through LPL Financial, Member FINRA/SIPC, and investment advisor representatives of National Wealth Management Group; or (2) solely investment advisor representatives of National Wealth Management Group, and not affiliated with LPL Financial. Investment advice offered through National Wealth Management Group, a registered investment advisor and separate entity from LPL Financial. ​The information presented is for educational and informational purposes only and is not intended as a recommendation or specific advice.

Journey > Destination.   Does the world run on envy?  Charlie Munger, who once said, “the first rule of a happy life is low expectations”, argued that it does.  We even have the adage ‘keeping up with the Joneses’ to encapsulate this ongoing economic arms race.   In-your-face financial flexing is difficult to ignore.  A moment of boredom followed by a screen tap and a world of obscene wealth can be streamed directly into your consciousness.   Enough of this, and you begin to develop a subconscious crisis, sleepwalking your way into an unaffordably expensive situation. Worse, you could develop deep seated resentments culminating into pervasive discontent.   By “low expectations,” Charlie meant that you should expect less in exchange for your efforts.  It’s not a call to curb your aspirations.  When applied, this mindset repels disappointment and encourages sustained motivation.   High-profile black swan jackpots and grift have sold many on the fallacy of wealth without effort.  When money is conflated with meaning, the expedient path seems obvious.  Only a chump would expend his energy for something that could be more easily attained. Millions flock to recently legalized betting markets, trading schemes, and hot potato crypto scams, chasing the Leprechaun.  A story as old as the Leprechaun itself.   Most don’t realize this is a disenchanted path without a destination.  The plight of a materialist without wisdom.       A life lived with sublime purpose is more precious than any asset.  It is the noblest of pursuits, with monetary wealth being a common side effect.  The grandest human stories are those of sacrifice, not envy or any of its accomplices.    Ben and Brent explore this subject in an open-ended conversation, drawing on several sources for inspiration.  It’s a complex topic to unpack, to be sure.  One we hope to refine in future episodes.     Please share your thoughts and comments or future episode ideas with [email protected]!    ______   Sources   The Soul of Wealth, Daniel Crosby: PERMA (Positive Emotion, Engagement, Relationships, Meaning, Advancement)   ______   About your Hosts   Ben Jones Managing Director, National Wealth Management Group www.nwmgadvisors.com  Sign up for Ben’s newsletter at www.karastick.com  Follow him on X @thekaratstick https://www.linkedin.com/in/ben-nwmg/   ____   Brent Gargano, CFPⓇ Founder & Advisor, Infinite Wealth Planning  www.infinitewealthplanning.com linkedin.com/in/brent-gargano-cfp®-2067b573 Learn more about Brent and follow his newsletter --> https://infinitewealthplanning.net/about-us/#founder   ______   Editor Trevor Gargano Financial Advisor Marketer [email protected] https://www.linkedin.com/in/trevor-gargano-72727b67/   ______   Follow our socials to support the podcast; see extra clips and announcements!   Instagram: https://www.instagram.com/moneyalchemistpod/ X: https://twitter.com/moneyalchpod  Facebook: https://www.facebook.com/profile.php?id=61556458987483   ______   Disclosure: The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.  Advisors associated with National Wealth Management Group may be either (1) registered representatives with, and securities offered through LPL Financial, Member FINRA/SIPC, and investment advisor representatives of National Wealth Management Group; or (2) solely investment advisor representatives of National Wealth Management Group, and not affiliated with LPL Financial. Investment advice offered through National Wealth Management Group, a registered investment advisor and separate entity from LPL Financial. ​The information presented is for educational and informational purposes only and is not intended as a recommendation or specific advice.

The Palisades, Eaton, and Hughes fires have affected 59 square miles of land in Southern California.  Combined, they have consumed more than 16,000 homes and buildings and an uncounted number of automobiles.   This natural disaster comes hot off the heels of two hurricanes that wreaked havoc in Florida and North Carolina, from which residents are still recovering.  Those who have been through the home building or remodeling process should have more than a modicum of empathy.   It’s difficult enough to find a good home builder.  Now imagine doing this reactively without adequate funds and under intense competition for scant capable contractors.  Distressed land sales are inevitable.   A tragedy for the victims of these natural disasters who are already reeling from immense personal loss.  Some will be indemnified by insurers, many will not.  Insurance is one of those easy to neglect aspects of your financial life because it feels like a waste of money.   I hope you do waste your money on insurance because that is the best of possible outcomes.  If you file a claim, that means Newton & Murphy’s Laws ganged up on you.   Most of us don’t even know where to start when it comes to assessing insurance needs, and we’re allergic to the greasy tactics the insurance industry uses to maximize profits at our expense.  So what do we do?   That’s exactly what we brought our guest and insurance guru, Sean Cohen, into the studio to discuss.     ______   About your Hosts   Ben Jones Managing Director, National Wealth Management Group www.nwmgadvisors.com  Sign up for Ben’s newsletter at www.karastick.com  Follow him on X @thekaratstick https://www.linkedin.com/in/ben-nwmg/   ____   Brent Gargano, CFPⓇ Founder & Advisor, Infinite Wealth Planning  www.infinitewealthplanning.com linkedin.com/in/brent-gargano-cfp®-2067b573 Learn more about Brent and follow his newsletter --> https://infinitewealthplanning.net/about-us/#founder ____   Guest: Sean Cohen  Owner of S. Cohen Insurance Agency https://scoheninsurance.com/ (859)443-4466 (859)694-2284 for quotes   ______   Editor Trevor Gargano Financial Advisor Marketer [email protected] https://www.linkedin.com/in/trevor-gargano-72727b67/   ______   Follow our socials to support the podcast; see extra clips and announcements!   Instagram: https://www.instagram.com/moneyalchemistpod/ X: https://twitter.com/moneyalchpod  Facebook: https://www.facebook.com/profile.php?id=61556458987483   ______   Disclosure: The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.  Advisors associated with National Wealth Management Group may be either (1) registered representatives with, and securities offered through LPL Financial, Member FINRA/SIPC, and investment advisor representatives of National Wealth Management Group; or (2) solely investment advisor representatives of National Wealth Management Group, and not affiliated with LPL Financial. Investment advice offered through National Wealth Management Group, a registered investment advisor and separate entity from LPL Financial. ​The information presented is for educational and informational purposes only and is not intended as a recommendation or specific advice.

Why you have it and what to do about it.  Financial stress is a response to a specific, often temporary, financial problem that can be resolved through specific action. As an example, you are about to close on a home purchase and are uncertain if loan underwriting will be completed in time.  These stressors can be quickly alleviated with the right course of action and often resolve themselves in time. Financial anxiety involves more pervasive worry that can paralyze action, making it difficult to address the core of a financial issue.  We may not even be conscious of our anxiety, but it manifests itself through a general discomfort that can lead to suboptimal decision making.  Think of someone desperate to earn the approval of another, and in doing so unnaturally acquaint themselves with avarice.  While not necessarily financially devastating, it can lead someone down a path into personal ruin.  It’s important to confront your anxiety to address its genesis.  Only then can you begin to improve the quality of your life and move on to the next stage of your development.  This is the topic of discussion in today’s episode.  Ben and Brent talk about how they’ve addressed financial anxiety and what to do when you inevitably face this ubiquitous force.     Sources:  https://www.kitces.com/blog/distinguish-financial-stress-from-anxiety-and-client-communication-strategies-to-help/   ______   About your Hosts   Ben Jones Managing Director, National Wealth Management Group www.nwmgadvisors.com  Sign up for Ben’s newsletter at www.karastick.com  Follow him on X @thekaratstick https://www.linkedin.com/in/ben-nwmg/   Brent Gargano, CFPⓇ Founder & Advisor, Infinite Wealth Planning  www.infinitewealthplanning.com linkedin.com/in/brent-gargano-cfp®-2067b573 Learn more about Brent and follow his newsletter --> https://infinitewealthplanning.net/about-us/#founder   ______   Editor   Trevor Gargano Financial Advisor Marketer [email protected] https://www.linkedin.com/in/trevor-gargano-72727b67/   ______   Follow our socials to support the podcast; see extra clips and announcements!   Instagram: https://www.instagram.com/moneyalchemistpod/ X: https://twitter.com/moneyalchpod  Facebook: https://www.facebook.com/profile.php?id=61556458987483   ______   Disclosure:    The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.  Advisors associated with National Wealth Management Group may be either (1) registered representatives with, and securities offered through LPL Financial, Member FINRA/SIPC, and investment advisor representatives of National Wealth Management Group; or (2) solely investment advisor representatives of National Wealth Management Group, and not affiliated with LPL Financial. Investment advice offered through National Wealth Management Group, a registered investment advisor and separate entity from LPL Financial. ​The information presented is for educational and informational purposes only and is not intended as a recommendation or specific advice.    

Another year, different in how you make it.  2025 is here and so are the renewed pressures of the ego to break through yet another motivational barrier.   The root of the word sublime stems from Latin to mean, roughly, high threshold.  The things that are most worth doing are not easy. Sublime is a subjective word.  It’s true meaning found at that point where your aspirations meet the outset edge of your competency.  To find it, you need to be introspective and self-aware. This is the ethos of effective goal setting.  Goals are not fun to set because they invite discomfort through a tolerable degree of invitational suffering.    But through them we discover that extraordinary things can be achieved through incremental efforts. While setting goals starts with an honestly aware self, meeting those goals requires consistent action of the most ordinary kind.  Almost mundane, really, which is what can make accomplishment so tough.  In 2025’s first MAP episode, Brent and Ben discuss their thoughts on the subject with the hope that some can find encouragement.   It also serves to hold ourselves accountable to our goals for the content they deliver. Happy New Year and may you discover your own personal sublimity through this new 12-month journey in time!   ______   About your Hosts   Ben Jones Managing Director, National Wealth Management Group www.nwmgadvisors.com  Sign up for Ben’s newsletter at www.karastick.com  Follow him on X @thekaratstick https://www.linkedin.com/in/ben-nwmg/   Brent Gargano, CFPⓇ Founder & Advisor, Infinite Wealth Planning  www.infinitewealthplanning.com linkedin.com/in/brent-gargano-cfp®-2067b573 Learn more about Brent and follow his newsletter --> https://infinitewealthplanning.net/about-us/#founder   ______   Editor   Trevor Gargano Financial Advisor Marketer [email protected] https://www.linkedin.com/in/trevor-gargano-72727b67/   ______   Follow our socials to support the podcast; see extra clips and announcements!   Instagram: https://www.instagram.com/moneyalchemistpod/ X: https://twitter.com/moneyalchpod  Facebook: https://www.facebook.com/profile.php?id=61556458987483   ______   Disclosure:    The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.  Securities offered through LPL Financial, Member FINRA & SIPC..  Advisory services offered through National Wealth Management Group, LLC a registered investment advisor and separate entity from LPL Financial. Brent Gargano is solely an investment advisor representative of National Wealth Management Group, LLC, and not affiliated with LPL Financial. Any opinions or views expressed by Brent Gargano are his own and are not those of LPL Financial

Ben and Brent wrap up 2024 with a conversation on the state of the housing market.  Prices of single family homes continue to edge higher, being up 6% year over year.  This is on top of a record increase in median single family home prices over the past decade which now totals 102% according to Freddie Mac.     While unaffordability infects already strained budgets, forcing some households to quarantine in low rate mortgages or rents, we continue to see enough demand on low inventories push prices higher.  Homes are still selling quickly and people are moving despite 7% mortgage rates.  The same irresistible natural force that drives birds to their nesting habitats recently drove Brent and his family from the inner 275 loop to the suburbs of Northern Cincy.  Ben is in the midst of buying a home and about to list his family’s West Chester home of 11 years in search of status and garage space.     Are they making mistakes abandoning their sub 3% mortgage rates in pursuit of quality of life improvements?  Or are they moving with the natural flow of the market incentives as part of the “great capitulation”?     Listen in to find out the answers to these questions and much more!     ______   About your Hosts   Ben Jones Managing Director, National Wealth Management Group www.nwmgadvisors.com  Sign up for Ben’s newsletter at www.karastick.com  Follow him on X @thekaratstick https://www.linkedin.com/in/ben-nwmg/   Brent Gargano, CFPⓇ Founder & Advisor, Infinite Wealth Planning  www.infinitewealthplanning.com linkedin.com/in/brent-gargano-cfp®-2067b573 Learn more about Brent and follow his newsletter --> https://infinitewealthplanning.net/about-us/#founder   ______   Sources:   Lending Tree, Mortgage Statistics: 2025 https://www.lendingtree.com/home/mortgage/u-s-mortgage-market-statistics/   Redfin, 12/12/2024 Homebuyer Press Release https://investors.redfin.com/news-events/press-releases/detail/1233/redfin-reports-homebuying-demand-sitting-near-highest-level   Redfin, 2025 Predictions https://investors.redfin.com/news-events/press-releases/detail/1228/redfins-2025-predictions-pent-up-demand-will-lead-to   ______   Editor   Trevor Gargano Financial Advisor Marketer [email protected] https://www.linkedin.com/in/trevor-gargano-72727b67/   ______   Follow our socials to support the podcast; see extra clips and announcements!   Instagram: https://www.instagram.com/moneyalchemistpod/ X: https://twitter.com/moneyalchpod  Facebook: https://www.facebook.com/profile.php?id=61556458987483   ______   Disclosure:    The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.  Securities offered through LPL Financial, Member FINRA & SIPC..  Advisory services offered through National Wealth Management Group, LLC a registered investment advisor and separate entity from LPL Financial. Brent Gargano is solely an investment advisor representative of National Wealth Management Group, LLC, and not affiliated with LPL Financial. Any opinions or views expressed by Brent Gargano are his own and are not those of LPL Financial  

There was a lot to discuss with family this Thanksgiving.  The election, stocks ripping, the return of crypto mania, and, of course, the evergreen subject of ‘the culture war’.  In many households, Thanksgiving takes its shape as thoughtsgiving as outspoken opinions crowd out any notion of contentment.     Few things can be as goading as that one relative who works in their trading fortunes into any conversation, conflating luck with genius.  You’ll definitely know by the end of the conversation how much they claim to be worth.  You’ll also know who will be the least generous person come gift giving season in a month’s time.     This begs the question, what money topics are appropriate to discuss with friends and family?  When should you be cautious, and when is a good time to disclose?  These are not simple questions and the answers require nuance to address.    ______   About your Hosts   Ben Jones Managing Director, National Wealth Management Group www.nwmgadvisors.com  Author, www.karastick.com  @thekaratstick https://www.linkedin.com/in/ben-nwmg/ Follow Ben's Financial Newsletter 'Karat Stick' - https://www.karatstick.com/   __   Brent Gargano, CFPⓇ Founder & Advisor, Infinite Wealth Planning  www.infinitewealthplanning.com linkedin.com/in/brent-gargano-cfp®-2067b573 Read Brent's latest blog post, 'Election Update: What To Expect For Investments,' and follow his newsletter for more content --> https://infinitewealthplanning.net/election-update-what-to-expect-for-investments/     ______     Follow our socials to support the podcast; see extra clips and announcements!   Instagram: https://www.instagram.com/moneyalchemistpod/ X: https://twitter.com/moneyalchpod  Facebook: https://www.facebook.com/profile.php?id=61556458987483   ______   Editor   Trevor Gargano Financial Advisor Marketer [email protected] https://www.linkedin.com/in/trevor-gargano-72727b67/   ______     Disclosure   The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.    Please consult with a qualified legal professional to find out if any of the strategies discussed are right for you.  Neither Ben or Brent are licensed attorneys and cannot provide legal advice.    Securities offered through LPL Financial, Member FINRA & SIPC..  Advisory services offered through National Wealth Management Group, LLC a registered investment advisor and separate entity from LPL Financial.  

In this episode, Ben and Brent discuss some of the possible economic implications of the election along with common year-end best tax optimization practices.  As we approach the end of the year and the start of 2025, one thing becomes clear: change is on the horizon.  Like viewing a hurricane from the shoreline, it’s tough to gauge the strength of its winds and the endurance of the force, but we know it is coming.   Download Our 2024 Year End Checklist - https://drive.google.com/file/d/1LoVkEDMscu6Lo-u91u-NxVh2cYdeQdKL/view?usp=sharing   ______   About your Hosts   Ben Jones Managing Director, National Wealth Management Group www.nwmgadvisors.com  Author, www.karastick.com  @thekaratstick https://www.linkedin.com/in/ben-nwmg/ Follow Ben's Financial Newsletter 'Karat Stick' - https://www.karatstick.com/   __   Brent Gargano, CFPⓇ Founder & Advisor, Infinite Wealth Planning  www.infinitewealthplanning.com linkedin.com/in/brent-gargano-cfp®-2067b573 Read Brent's latest blog post, 'Election Update: What To Expect For Investments,' and follow his newsletter for more content --> https://infinitewealthplanning.net/election-update-what-to-expect-for-investments/     ______     Follow our socials to support the podcast; see extra clips and announcements!   Instagram: https://www.instagram.com/moneyalchemistpod/ X: https://twitter.com/moneyalchpod  Facebook: https://www.facebook.com/profile.php?id=61556458987483   ______   Editor   Trevor Gargano Financial Advisor Marketer [email protected] https://www.linkedin.com/in/trevor-gargano-72727b67/   ______     Disclosure   The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.    Please consult with a qualified legal professional to find out if any of the strategies discussed are right for you.  Neither Ben or Brent are licensed attorneys and cannot provide legal advice.    Securities offered through LPL Financial, Member FINRA & SIPC..  Advisory services offered through National Wealth Management Group, LLC a registered investment advisor and separate entity from LPL Financial.  

As we approach the end of the year and the season of generosity, it is appropriate to address the topic of gifting. Gifting money and assets is not as straightforward as it may seem.  Assuming you will receive a tax deduction for charitable contributions is often incorrect and can result in a reduced charitable contribution than otherwise intended.     Also, there’s no hard and fast rule that you must give to 501(c)(3) organizations.  Sometimes effective giving means looking beyond the tax savings so see how you can effect the most good for the people around you.  Join Ben and Brent as they delve into this subject and we hope you glean a thing or two from the conversation.    ______   About your Hosts   Ben Jones Managing Director, National Wealth Management Group www.nwmgadvisors.com  Author, www.karastick.com  @thekaratstick https://www.linkedin.com/in/ben-nwmg/   __   Brent Gargano, CFPⓇ Founder & Advisor, Infinite Wealth Planning  www.infinitewealthplanning.com linkedin.com/in/brent-gargano-cfp®-2067b573   ______     Follow our socials to support the podcast; see extra clips and announcements!   Instagram: https://www.instagram.com/moneyalchemistpod/ X: https://twitter.com/moneyalchpod  Facebook: https://www.facebook.com/profile.php?id=61556458987483   ______   Editor Trevor Gargano [email protected] https://www.linkedin.com/in/trevor-gargano-72727b67/   ______   Disclosure:   The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.    Securities offered through LPL Financial, Member FINRA & SIPC..  Advisory services offered through National Wealth Management Group, LLC a registered investment advisor and separate entity from LPL Financial.    

What is your default setting when confronted with the prospect of saving more?  Do you immediately think about how you can cut expenses or do you think about different ways to increase your income?  There is a limit to how much you can reduce your expenses, especially if you have dependents.  Your ability to earn, on the other hand, is open ended.  There are realistic limits, of course, but many never reach their true income potential.  Join Ben and Brent as they discuss some different ways you can do this.  ______   About your Hosts   Ben Jones Managing Director, National Wealth Management Group www.nwmgadvisors.com  Author, www.karastick.com  @thekaratstick https://www.linkedin.com/in/ben-nwmg/   __   Brent Gargano, CFPⓇ Founder & Advisor, Infinite Wealth Planning  www.infinitewealthplanning.com linkedin.com/in/brent-gargano-cfp®-2067b573   ______     Follow our socials to support the podcast; see extra clips and announcements!   Instagram: https://www.instagram.com/moneyalchemistpod/ X: https://twitter.com/moneyalchpod  Facebook: https://www.facebook.com/profile.php?id=61556458987483   ______   Editor Trevor Gargano [email protected] https://www.linkedin.com/in/trevor-gargano-72727b67/   ______   Disclosure:   The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.    Securities offered through LPL Financial, Member FINRA & SIPC..  Advisory services offered through National Wealth Management Group, LLC a registered investment advisor and separate entity from LPL Financial.

Low cost investment providers such as Vanguard have commoditized investing, pushing wealth managers to broaden their scope to deliver value.  When “S&P and chill” effectively summarizes a sensible approach to wealth building, what more is there for advisors to do?  Just as Warren Buffett’s advice “be fearful when others are greedy, and greedy when others are fearful” is easy in concept, difficult in application, so is optimal wealth management.    Managing wealth effectively involves much more than selecting investments.  It involves managing emotions, career, tax liabilities, and purpose.  Growing advice practices have embraced all aspects of managing wealth using a holistic life coaching approach.  Effective Advisors understand that there are just some needs the “S&P and chill” approach cannot address and seek to fulfill qualitative human needs.     ______   About your Hosts   Ben Jones Managing Director, National Wealth Management Group www.nwmgadvisors.com  Author, www.karastick.com  @thekaratstick https://www.linkedin.com/in/ben-nwmg/   __   Brent Gargano, CFPⓇ Founder & Advisor, Infinite Wealth Planning  www.infinitewealthplanning.com linkedin.com/in/brent-gargano-cfp®-2067b573   ______   Sources   McKinsey & Company Wealth Management 2030 Study: https://www.mckinsey.com/industries/financial-services/our-insights/on-the-cusp-of-change-north-american-wealth-management-in-2030   Summary:  420k advisors in the US and Canada80,000 are CFPs Advisors aging - down to 25% under 44 years old from 33% in 20107,000 advisors expected to retire in the next 5 years Advisors will need to cater more to Millenials and Gen X as wealth transfers Planning is shifting to be more goal based, requiring the integration of behavioral coaching/mindset management Only 39% of affluent families have a written financial plan Fees are shifting to be more subscription focused or ongoing vs one time and commissions Advisors are becoming more diverse - Women currently represent 33% but likely to be 50% over time, minorities currently 20% go to 40%, and 50% will be 30-40 years old Advisors will shift from investment managers to focus on insurance, banking, healthcare, protection, estate, and tax.  Advisors will have more transparent user ratings, as opposed to word-of-mouth business Successful advisory firms will be able to leverage technology to drive costs down to remain competitive as automated options become more prevalent2 models that can win:Broader servicing larger amounts of clients at scale Hyper focused planning for HNW clients - currently 60% of the revenue generated by advisors    ______     Follow our socials to support the podcast; see extra clips and announcements!   Instagram: https://www.instagram.com/moneyalchemistpod/ X: https://twitter.com/moneyalchpod  Facebook: https://www.facebook.com/profile.php?id=61556458987483   ______   Editor Trevor Gargano [email protected] https://www.linkedin.com/in/trevor-gargano-72727b67/   ______   Disclosure:   The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.    Securities offered through LPL Financial, Member FINRA & SIPC..  Advisory services offered through National Wealth Management Group, LLC a registered investment advisor and separate entity from LPL Financial.

Saving for retirement is a challenge, perhaps one of life’s greatest challenges.  It requires a sacrificial mindset that favors tomorrow over today.  This mindset can eventually calcify, becoming an ingrained personality trait.  Shifting this mindset in retirement can be an even greater challenge, but is necessary to live with an optimal quality of life.    ______   About your Hosts   Ben Jones Managing Director, National Wealth Management Group www.nwmgadvisors.com  Author, www.karastick.com  @thekaratstick https://www.linkedin.com/in/ben-nwmg/   __   Brent Gargano, CFPⓇ Founder & Advisor, Infinite Wealth Planning  www.infinitewealthplanning.com linkedin.com/in/brent-gargano-cfp®-2067b573   ______   Follow our socials to support the podcast; see extra clips and announcements!   Instagram: https://www.instagram.com/moneyalchemistpod/ X: https://twitter.com/moneyalchpod  Facebook: https://www.facebook.com/profile.php?id=61556458987483   ______   Editor Trevor Gargano [email protected] https://www.linkedin.com/in/trevor-gargano-72727b67/   ______   Disclosure:   The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.    Securities offered through LPL Financial, Member FINRA & SIPC..  Advisory services offered through National Wealth Management Group, LLC a registered investment advisor and separate entity from LPL Financial.

What should you do when market volatility spikes to the downside?  We’ve heard to never run from a bear but lie down and play dead.  The same holds true in bear markets, more or less.  Ben and Brent go a few steps further on what to do.  First, they elaborate on what’s behind the August 2024 spike in volatility.     The market may have calmed down for now, but a listen might help you prepare for the next correction.     ______   Follow our socials to support the podcast; see extra clips and announcements!   Instagram: https://www.instagram.com/moneyalchemistpod/ X: https://twitter.com/moneyalchpod  Facebook: https://www.facebook.com/profile.php?id=61556458987483    ______   About your Hosts Ben Jones Managing Director, National Wealth Management Group www.nwmgadvisors.com  Author, www.karastick.com  @thekaratstick https://www.linkedin.com/in/ben-nwmg/ __ Brent Gargano, CFPⓇ Founder & Advisor, Infinite Wealth Planning  www.infinitewealthplanning.com linkedin.com/in/brent-gargano-cfp®-2067b573   ______   Resources:   Economic Calendar https://fidelity-fcm.econoday.com/byweek?cust=fidelity   Yen Carry Trade https://www.wsj.com/livecoverage/stock-market-today-dow-sp500-nasdaq-live-08-05-2024/card/why-the-yen-carry-trade-unwind-has-further-to-go-SYsvxWxTvLGLCUsDTDM5   First trust history of markets: https://www.ftportfolios.com/COMMON/CONTENTFILELOADER.ASPX?CONTENTGUID=4ECFA978-D0BB-4924-92C8-628FF9BFE12D   ______   Editor Trevor Gargano [email protected]   ______   Disclosure: The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.  Securities offered through LPL Financial, Member FINRA & SIPC..  Advisory services offered through National Wealth Management Group, LLC a registered investment advisor and separate entity from LPL Financial.

Ben and Brent sit down to discuss how wealthy families can preserve legacy through generational gifting using strategic planning.  Everyone has an estate plan, the default option usually being the worst one.  It’s important to think about what impact your money will have on people after you die.  It’s an uncomfortable reality to face, but a failure in doing so can cost you what would otherwise be a wonderful legacy.    ________   About your Hosts   Ben Jones Managing Director, National Wealth Management Group www.nwmgadvisors.com  Author, www.karastick.com  @thekaratstick https://www.linkedin.com/in/ben-nwmg/   __   Brent Gargano, CFPⓇ Founder & Advisor, Infinite Wealth Planning  www.infinitewealthplanning.com linkedin.com/in/brent-gargano-cfp®-2067b573   ________     Sources:   Estate & Gift Tax https://taxfoundation.org/data/all/state/state-estate-tax-inheritance-tax-2023/   ________     Editor:   Trevor Gargano [email protected]   ________   Disclosure:   The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.    Securities offered through LPL Financial, Member FINRA & SIPC..  Advisory services offered through National Wealth Management Group, LLC a registered investment advisor and separate entity from LPL Financial.

Some investors seek to cool off their portfolios by sitting on the sidelines under the shade.  Is market seasonality still a thing, and what should investors do about it?  Ben and Brent shed some sunlight on the old “sell in May and go away” sentiment and break down the phenomenon and the login therein.    ___   Today’s Host   Ben Jones Managing Director of National Wealth Management Group, LLC www.nwmgadvisors.com Author of karatstick.com  Follow him on X @thekaratstick    _   Brent Gargano, CFPⓇ Founder & Advisor, Infinite Wealth Planning  www.infinitewealthplanning.com linkedin.com/in/brent-gargano-cfp®-2067b573   ___   Follow our socials to support the podcast; see extra clips and announcements!   Instagram: https://www.instagram.com/moneyalchemistpod/ X: https://twitter.com/moneyalchpod  Facebook: https://www.facebook.com/profile.php?id=61556458987483    ___   Sources:   S&P 500 Chart Logarithmic S&P 500 since 1928   Ycharts May Blog  https://get.ycharts.com/resources/blog/monthly-market-wrap/   Investopedia sell in May and go away: Sell in May and go away statistics   Invesco: January Effect  https://www.invesco.com/us/en/insights/january-effect-stock-performance.html   A look at major geopolitical events https://www.carsonwealth.com/insights/blog/market-commentary-a-closer-look-at-the-stock-markets-reaction-to-major-geopolitical-events/   ___   Editor Trevor Gargano [email protected]   ___   Disclosure:   The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.    Securities offered through LPL Financial, Member FINRA & SIPC..  Advisory services offered through National Wealth Management Group, LLC a registered investment advisor and separate entity from LPL Financial.    

In today’s episode, Ben Jones sits with Jim Blair, Vice President/Co-Founder of Premier Social Security Consulting, to discuss all things Social Security.  Jim pulls from more than 35 years of experience working for the Social Security Administration.     From when to file to the financial health of the program, they cast a wide net.  Whether you’re about to file for your benefit or you’re just curious about how it works, this is worth a listen!   Today’s Host Ben Jones Managing Director of National Wealth Management Group, LLC www.nwmgadvisors.com Author of karatstick.com  Follow him on X @thekaratstick   Special Guest Jim Blair VP of Premier Social Security Consulting  www.premiersocialsecurityconsulting.com [email protected]   ___   Questions? Email us at [email protected]   ___   To support the podcast, we'd really appreciate it if you follow us!   Instagram: https://www.instagram.com/moneyalchemistpod/ X: https://twitter.com/moneyalchpod  Facebook: https://www.facebook.com/profile.php?id=61556458987483    ____   Disclosure:   The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. James Blair and Premier Social Security Consulting are not affiliated with LPL Financial or National Wealth Management Group.   Securities offered through LPL Financial, Member FINRA & SIPC..  Advisory services offered through National Wealth Management Group, LLC a registered investment advisor and separate entity from LPL Financial.  

Join Brent and special guest Todd Finch as they sit down to talk about real estate. Why now may be a good time to buy, and what you can do to be more effective when buying your next home.   For more questions, email us at [email protected] ____   Special Guest:  Todd Finch - Realtor  513-785-9994 [email protected]   ____   Infinite Wealth Planning: www.InfiniteWealthPlanning.com National Wealth Management: www.nwmgadvisors.com   ____   To support the podcast, we'd really appreciate if you follow us!   Instagram: https://www.instagram.com/moneyalchemistpod/ X: https://twitter.com/moneyalchpod  Facebook: https://www.facebook.com/profile.php?id=61556458987483    ____   Disclosure:   The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. All performance referenced is historical and is no guarantee of future results. Economic forecasts set forth may not develop as predicted and there can be no guarantee that strategies promoted will be successful. This information is not intended as authoritative guidance or tax or legal advice. You should consult with your attorney or tax advisor for guidance on your specific situation. Brent Gargano is not affiliated with LPL Financial.   Prior to investing in a 529 Plan investors should consider whether the investor's or designated beneficiary's home state offers any state tax or other state benefits such as financial aid, scholarship funds, and protection from creditors that are only available for investments in such state's qualified tuition program. Withdrawals used for qualified expenses are federally tax free. Tax treatment at the state level may vary. Please consult with your tax advisor before investing.   Securities and Advisory Services offered through LPL Financial, a registered investment advisor. Member FINRA & SIPC.  

Ben and Brent take a stroll across the shifting landscape of education in the US.  The demand for private education is increasing as popular college funding plans become much more flexible.  College tuition inflation seems to have hit some resistance as high school graduates become more discerning.  Things are changing and mostly for the better!     Join your hosts of The Money Alchemists podcasts to learn more about the state of education in America.    For more questions, email us at [email protected]   Infinite Wealth Planning: www.InfiniteWealthPlanning.com National Wealth Management: www.nwmgadvisors.com   ____   To support the podcast, we'd really appreciate if you follow us!   Instagram: https://www.instagram.com/moneyalchemistpod/ X: https://twitter.com/moneyalchpod  Facebook: https://www.facebook.com/profile.php?id=61556458987483    ____   Sources: College costs: https://www.bestcolleges.com/research/college-costs-over-time/#:~:text=The%20average%20cost%20of%20college,1963%20to%20%2414%2C307%20in%202021.&text=That's%20accounting%20for%20inflation.   History of 529: https://www.collegesavings.org/history-of-529-plans   Ohio EdChoice: https://education.ohio.gov/Topics/Other-Resources/Scholarships/EdChoice-Scholarship   College Tuition Lookup: https://www.collegeboard.org/college-cost-calculator   ____   Disclosure: The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. All performance referenced is historical and is no guarantee of future results. Economic forecasts set forth may not develop as predicted and there can be no guarantee that strategies promoted will be successful. This information is not intended as authoritative guidance or tax or legal advice. You should consult with your attorney or tax advisor for guidance on your specific situation. Brent Gargano is not affiliated with LPL Financial. Prior to investing in a 529 Plan investors should consider whether the investor's or designated beneficiary's home state offers any state tax or other state benefits such as financial aid, scholarship funds, and protection from creditors that are only available for investments in such state's qualified tuition program. Withdrawals used for qualified expenses are federally tax free. Tax treatment at the state level may vary. Please consult with your tax advisor before investing.   Securities and Advisory Services offered through LPL Financial, a registered investment advisor. Member FINRA & SIPC.  

Ben and Brent dive deep into Vanguard’s 31-page study on America’s retirement readiness released in 2023. The news isn’t great, as the title of the episode implies. Most Americans will be forced to make less-than-comfortable decisions during their golden years to keep solvent. They discuss what this means for people in this situation and what investors can do today to set themselves up for a retirement full of options.     In today’s episode, we talk about: How much to people need? How much to people have? Why the difference?  What can you do to be successful?   For more questions, email us at [email protected]  ____   To support the podcast, we'd really appreciate if you follow us!   Instagram: https://www.instagram.com/moneyalchemistpod/ X: https://twitter.com/moneyalchpod  Facebook: https://www.facebook.com/profile.php?id=61556458987483    _____________   Sources: Vanguard Study: https://corporate.vanguard.com/content/dam/corp/research/pdf/the_vanguard_retirement_outlook.pdf https://www.cnbc.com/2023/06/03/fidelity-how-much-americans-have-in-their-401ks-at-every-age.html   Fidelity Guide to retirement savings: https://www.fidelity.com/viewpoints/retirement/retirement-guidelines#:~:text=Fidelity's%20estimate%20is%20to%20save,my%20savings%20cover%20in%20retirement%3F   Retirement Savings Needed by Age: https://am.jpmorgan.com/us/en/asset-management/protected/adv/insights/retirement-insights/guide-to-retirement/   _____________ Disclosure: The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. All performance referenced is historical and is no guarantee of future results. Economic forecasts set forth may not develop as predicted and there can be no guarantee that strategies promoted will be successful. This information is not intended as authoritative guidance or tax or legal advice. You should consult with your attorney or tax advisor for guidance on your specific situation. Brent Gargano is not affiliated with LPL Financial. Bonds are subject to market and interest rate risk if sold prior to maturity. Bond values will decline as interest rates rise and bonds are subject to availability and change in price. Stock investing includes risks, including fluctuating prices and loss of principal. No strategy assures success or protects against loss. There is no guarantee that a diversified portfolio will enhance overall returns or outperform a non-diversified portfolio. Diversification does not protect against market risk. Mortgages are not available through LPL Financial. Securities and Advisory Services offered through LPL Financial, a registered investment advisor. Member FINRA & SIPC.

Election season is upon us and the question plaguing investor minds is: what should I do in reaction to outcome “X” or outcome “Y”.  Brent and Ben tackle this question head on and discuss what some of the ramifications of the election could be.    While culturally impactful, as it pertains to which flavor of freedom you want, the economic ramifications do not justify a radical shift in investing principles.  Keep your head clear, your chin up, and stay focused on the wondrous spirit of human innovation.   For more questions, email us at [email protected]  ____________________________________________   Market Data Sourced By:     YCharts: https://go.ycharts.com/hubfs/Guide_to_How_Presidential_Elections_Impact_the_Stock_Market.pdf   LPL research  https://www.lpl.com/research/blog/presidential-cycle-still-supportive-of-stocks.html   Invesco: ‘https://www.invesco.com/us/en/insights/market-performance-2024-presidential-election.html   https://eng11e.seismic.com/i/nLytFJxppKy5JwY3XuwLjOdWqOLhIof4957NNVOmvMqTDpeHHkamxivuHxfPp5UoPLUSSIGNfJm7Vd___EbU___nO2gcPDv9VdPLUSSIGNgJAfE5va92y2kLgtapQTm90NdXJaZEhD0Dz7hAK7    Economic Data Sourced By:   Jolts Data: https://www.bls.gov/jlt/latest-numbers.htm   Fiscal Data (treasury.gov) https://fiscaldata.treasury.gov/americas-finance-guide/government-revenue/ https://fiscaldata.treasury.gov/americas-finance-guide/federal-spending/#:~:text=Spending%20Trends%20Over%20Time%20and,the%20United%20States%20that%20year. Income Wage Gap: JPMorgan Guide to the Markets   ______________________________   Disclosure:    The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. All performance referenced is historical and is no guarantee of future results. Economic forecasts set forth may not develop as predicted and there can be no guarantee that strategies promoted will be successful. This information is not intended as authoritative guidance or tax or legal advice. You should consult with your attorney or tax advisor for guidance on your specific situation. Brent Gargano is not affiliated with LPL Financial. Bonds are subject to market and interest rate risk if sold prior to maturity. Bond values will decline as interest rates rise and bonds are subject to availability and change in price. Stock investing includes risks, including fluctuating prices and loss of principal. No strategy assures success or protects against loss. There is no guarantee that a diversified portfolio will enhance overall returns or outperform a non-diversified portfolio. Diversification does not protect against market risk. Mortgages are not available through LPL Financial. Securities and Advisory Services offered through LPL Financial, a registered investment advisor. Member FINRA & SIPC.  

Ben and Brent team up with a local tax planning and business consulting powerhouse, Anthony Lewis, for a three-episode series on small business planning in the post-COVID environment.     Kirsch CPA - https://kirschcpa.com/   ____________________________________________________   Disclosure:    Securities offered through LPL Financial, Member FINRA/SIPC.  Advisory Services offered through National Wealth Management Group, LLC, A Registered Investment Advisor and separate entity from LPL Financial LLC. The content shared in this podcast by Kirsch CPA Group is based on our own experiences, research, and opinions, and it may not be suitable as professional or expert advice. We highly recommend consulting with qualified experts or professionals when making important decisions related to the topics we discuss. Your individual circumstances and needs may vary, and what works for one person may not necessarily work for another. The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. All performance referenced is historical and is no guarantee of future results. Economic forecasts set forth may not develop as predicted and there can be no guarantee that strategies promoted will be successful. This information is not intended as authoritative guidance or tax or legal advice. You should consult with your attorney or tax advisor for guidance on your specific situation. Anthony Lewis is not affiliated with LPL financial Brent Gargano is not affiliated with LPL Financial.  Kirsch CPA Group, Infinite Wealth Planning nor National Wealth Management Group, LLC is affiliated with LPL Financial.