Losing a loved one is one of the most challenging and emotional periods in anyone’s life. When assets, such as property and investments, are left to their beneficiaries, many families have a difficult time knowing where and how to start the process of settling the estate.

In today’s episode, we’ll focus on estate planning, specifically the responsibilities and tax implications that a beneficiary has when they inherit those assets. I’m joined by our very own Mark Kenney and Amanda Glennon, who both have years of experience guiding families through this process to ensure that the actions and decisions that are made won’t have financial consequences later.

In our conversation, you’ll learn how changes to the SECURE Act have impacted how inherited assets are taxed and distributed, the new estate tax exemption rules for Massachusetts residents, and why developing a relationship with an advisor to create an estate plan makes the entire process easier to handle during such an emotional time.

In this podcast interview, you’ll learn:

• How changes to the SECURE Act have accelerated the timeframe to deplete inherited assets for non-spouses.
• What cost basis means and how it applies to inheriting property or investments.
• The values of an estate that are excluded from state and federal estate taxes.
• How long a beneficiary can expect to wait before the estate is settled.
• The difference in taxation from inheriting an IRA and a Roth IRA.
• The added value in dealing with a Financial Advisor in person vs over the phone when handling an estate.

Want the Full Show Notes?

To get access to the full show notes, including audio, transcripts, and links to all the resources mentioned, visit SHPfinancial.com/podcast

Connect With Us on Social

• Facebook
• LinkedIn
• YouTube

In early 2023, SHP Financial passed the $1 billion threshold in AUM, or assets under management. If you’ve ever wondered what goes into running a firm of this size, how we choose our managers, and how we help our clients create comprehensive financial plans, today’s episode is for you.

Today’s guest is William Malagodi. William has extensive experience building out hugely successful firms. In this conversation, we explore the art of manager selection, how we manage our day to day operations, and go above and beyond to deliver for our clients.

In this podcast interview, you’ll learn:

• How financial planners learn about the firms and resources they work with and recommend to clients.
• Why it’s all but impossible to use just free information from the internet to build a robust, stress-tested portfolio.
• SHP’s philosophy on risk based and allocation based portfolios.
• What a comprehensive portfolio review at SHP looks like.

Want the Full Show Notes?

To get access to the full show notes, including audio, transcripts, and links to all the resources mentioned, visit SHPfinancial.com/podcast

Connect With Us on Social

• Facebook
• LinkedIn
• YouTube

Today, we’re joined by Chris Smith, creator of the Campfire Effect and host of the Family Brand Podcast. Chris works with leaders and advisors in the financial planning space to help them tell their stories, scale their businesses, and unlock growth and change.

We’ve worked with Chris in the past to develop and tell the story of our brand, and we wanted to take this opportunity to share wisdom and insights you can use in your own life and business.

In this conversation, we discussed how financial planning is more than a numbers game, what separates a technically competent financial planner from a truly great one, and how to tell you’re receiving the kind of service you, your family, and your legacy deserve.

• In this podcast interview, you’ll learn:
  The important questions you should be asking any prospective financial advisor that go beyond portfolio construction and risk assessment.
• How a good financial advisor helps challenge and support you to live your best life.
• Why your financial advisor needs to provide you with guidance and leadership to ensure your successful retirement.
• The surprising things we learned on our multi-year journey to understand how to best serve our clients.
• Two simple things you can do to transform your mindset.

Want the Full Show Notes?

To get access to the full show notes, including audio, transcripts, and links to all the resources mentioned, visit SHPfinancial.com/podcast

Connect With Us on Social

• Facebook
• LinkedIn
• YouTube

Come join SHP Co-founder Matthew C. Peck, CFP® CIMA® and Sr. Service Representative Laura Russo as they take a moment to reflect on Q1 and prepare for Q2! While thinking about the future, they also explore the potential impact of the upcoming election on your retirement.

In this episode, we'll explore important trends, possible hurdles, and any new changes. Matt and Laura will bring clarity so you can stay knowledgeable heading into Q2!

As a parent, it’s never too early to start talking to your kids about money. Before you know it, they’ll be going off to college and getting their first job as a young adult. At that point, they’ll probably have questions about how much they can afford to spend and whether or not they should invest in a 401(k). Today’s episode will help prepare you for some of those questions.

We’re excited to introduce our audience to Mike Guthrie. Mike is a Financial Advisor at SHP and has over 25 years of experience in finance and financial planning. Before joining us at SHP, Mike worked at Morgan Stanley, BlackRock, and Northwestern Mutual, to name just a few.

In our conversation, we’ll explore some of the common questions that your kids might need advice on. We’ll discuss employer benefits that might be available to them, the difference between a traditional and Roth 401(k), and what types of investments they should consider within those plans.

In this podcast interview, you’ll learn:

• The value of saving early with compounding interest.
• How to start the process of teaching your kids about managing expenses.
• The difference between a traditional and Roth 401(k).
• How Target Date Funds work and why they are attractive for young investors.
• The importance of investing early with regular contributions, especially when the markets are down.

Want the Full Show Notes?

To get access to the full show notes, including audio, transcripts, and links to all the resources mentioned, visit SHPfinancial.com/podcast

Connect With Us on Social

• Facebook
• LinkedIn
• YouTube

Many entrepreneurs and business owners will admit that it’s easy to get caught up in sales, numbers, targets, and growth. But at what cost? As you’ll hear in this conversation, the sacrifices people make to build a 7, 8, or even 9-figure business can leave their family and loved ones wishing they could enjoy more time with them instead of enjoying the fruits of their labor.

Today, we’re thrilled to have Michael Hyatt on the podcast. Michael is the Founder and Chairman of Full Focus, which has been featured in the Inc 5000 list of Fastest Growing Companies in America and Inc’s Best Workplaces. He’s also scaled multiple companies, including a $250 million publishing company with 700+ employees, and has written numerous bestselling books, including Your Best Year Ever, Free to Focus, Win at Work and Succeed at Life, and Mind Your Mindset.

In this conversation, we get into what Michael is doing to take a back seat in his business without exiting entirely, how to prioritize the Double Win in life and work, and why your most important purpose hasn’t been fulfilled if you’re reading this right now.

In this podcast interview, you’ll learn:

• How the lessons Michael learned about exits and retirement from his long career in business informed his own transition plan.
• What happened when Michael had enormous success in business at the cost of his home life–and how he rethought his approach to show up for his family.
• How Michael has helped clients cultivate a vision for their life after the 40+ hour workweek.
• The beauty of finding work-life balance–and why purpose is at the heart of it all.

Want the Full Show Notes?

To get access to the full show notes, including audio, transcripts, and links to all the resources mentioned, visit SHPfinancial.com/podcast

Connect With Us on Social

• Facebook
• LinkedIn
• YouTube

Whether we like it or not, our tax laws will be changing again soon. That’s why it’s so important to keep your tax planning needs top of mind and be aware of what those changes are and how they factor into your retirement plan.

Today, we’re once again joined by Chase Reardon to talk about some important changes to the Tax Cuts and Jobs Act and how you can take advantage of opportunities that exist to mitigate taxes.

We’ll discuss why tax planning and portfolio planning have to go hand in hand, how Chase and the SHP Financial team works with clients to build a tax plan for their specific needs, and what you can do right now to save money in retirement.

In this podcast interview, you’ll learn:

• Why tax planning can never be a set it and forget it strategy.
• The major advantages of the Tax Cuts and Jobs Act–and why these benefits will mostly go away at the end of 2025.
• How to know whether a Roth conversion is right for you.
• Assets you can use to change your tax structure, including trusts, charitable gifts, and 529 accounts.

Want the Full Show Notes?

To get access to the full show notes, including audio, transcripts, and links to all the resources mentioned, visit SHPfinancial.com/podcast

Connect With Us on Social

• Facebook
• LinkedIn
• YouTube

If you’re buying a home or thinking about refinancing your existing mortgage, you’ve probably got a lot of questions: what are interest rates going to be? Are these high interest rates here to stay forever? How much equity can I unlock to pay bills or renovate my home?

We’re thankful to have Nate Hartseil from Main Street Home Loans with us today to walk us through the current mortgage landscape and what your options might be, whether you’re looking to buy or sell. 

In this conversation, we explore when, why and how the Fed may finally cut interest rates, strategies you can use to retire debt for you and your family, and how to get out from under debts that might be weighing you down. 

In this podcast interview, you’ll learn:

• Why Nate believes we’re approaching the light at the end of the tunnel when it comes to the housing market. 
• Why so many Americans are living paycheck-to-paycheck and why debt is on the rise. 
• The two types of refinances you can use to free up disposable income.
• When, why, and how to write a reverse mortgage.

Want the Full Show Notes?

To get access to the full show notes, including audio, transcripts, and links to all the resources mentioned, visit SHPfinancial.com/podcast

Connect With Us on Social

• Facebook
• LinkedIn
• YouTube