On the latest episode of Advance Your Wealth, we dive into the market’s reaction to the recent election results, exploring whether the response was in line with expectations or presented surprises. We discuss the reduced pre-election volatility, the modest post-election market increases, and what this might signal for future trends.

Our conversation delves into the anticipated economic and policy changes under a Trump administration with a Republican-controlled Congress. Key topics include:

• Extensions to Trump-era tax reforms, including the 199A Qualified Business Income Deduction and corporate tax rates.
• Potential adjustments to estate tax exemptions and their implications for wealth management.
• The future of Opportunity Zones and how they might evolve.
• The administration’s strategy for funding tax cuts, including proposed tariffs and their potential economic impacts.

We close by addressing how to navigate these complex changes. Our guest, Homer, shares strategies for cutting through the noise and helping clients make informed decisions during major transitions.

Chapters:

0:00 - Introduction

1:53 - The stock market's response

4:11 - Notable tax law changes

9:21 - Estate tax exemptions

11:50 - Trump's plan to pay for tax cuts

15:21 - Dealing with uncertainty

18:00 - How to contact Homer and his team

18:54 - Closing remarks

Many families have plans to pass along some of their wealth to children and grandchildren. But what about passing on financial values, a sense of purpose and possibility, and other family legacy concerns?

On the latest episode of Advance Your Wealth, we’re taking a look at how legacy planning can potentially help both the people transferring their wealth and the people receiving it.

Chapters:

0:00 - Introduction and overview on the topic of the day

1:06 - Estate planning and wealth planning conversations don't go far enough

2:56 - What can we learn from the ultra-wealthy families out there?

4:15 - Addressing the tension created in these moments

5:52 - Steps to instill values before transferring wealth

7:09 - The importance of discussing wealth a lot over time

9:11 - Advice on getting these important conversations started

11:29 - Steps you can take to begin discussing values and living them

14:17 - What if you have a very large family?

17:41 - How to get in touch with Homer's team

18:37 - Closing remarks

In this episode of Advance Your Wealth, Homer Smith sits down with financial expert Guy Ridout to discuss "The Costly Threats and Untapped Opportunities of Managing Your Company's 401k." Together, they explore the often-overlooked challenges and risks businesses face when managing 401k plans, including hidden fees, regulatory pitfalls, and fiduciary responsibilities. But it’s not all about the threats—Guy also shares valuable insights into the untapped opportunities that can benefit both employers and employees, from improving plan performance to boosting employee retention.

Whether you're a business owner, executive, or plan administrator, this episode provides essential knowledge on how to protect your company's 401k from costly mistakes and maximize its potential for long-term success. Tune in to learn how proactive 401k management can be a powerful tool for your business and your employees' financial futures.

Chapters:

0:00 - Introduction and overview on the topic of the day

2:59 - Identifying Threats in 401K Planning

5:48 - Compliance Challenges in 401K Plans

8:50 - Employee Perception and Engagement with 401K Plans

11:57 - Unlocking Opportunities

15:00 - The Role of Financial Advisors in 401K Management

17:50 - Real World Applications and Success Stories

21:05 - Closing remarks

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