On this episode of CFO at Home, Vince’s discussion is with Jude Wilson, Chief Financial Strategist at Centrus Financial Strategies, about financial planning, specifically for underrepresented communities and the first-generation affluent. They discuss the importance of understanding cash flow versus net worth and the challenges of changing financial mindsets. Jude also shares his personal money journey as the son of Haitian immigrants as well as stories of individuals who have transformed their financial futures through strategic planning. You can learn more about Jude and his work by visiting Centrusfs.com and by listening to The Roth Guy podcast.

With more options available to us than ever, navigating the world of investments can be challenging, whether you’re a new investor just starting out, or a more seasoned investor looking to strike a balance between growth and income. On this episode of CFO at Home, Vince talks with Steven Wagner, from Integrity Wealth Advisors, about the importance of your investment strategy evolving in different stages of life, the psychology of money, the concept behind Lifestyle or Target Date funds, and more. You can learn more about Stephen and Integrity Wealth Advisors by visiting iwaplan.com

Key Takeaways:

• Investment Evolution: Investing strategies should evolve as individuals progress from young entrepreneurs to retirees, with a focus on more aggressive investments in the early stages and a gradual shift to conservative options as retirement approaches.

• 100-Age Rule: The 100-age rule is a guideline for determining the percentage of assets to invest in stocks, but younger investors may benefit from even more aggressive strategies.

• Psychology of Money: Understanding the psychological aspects of investing, such as fear and greed, is crucial for making sound financial decisions and maintaining a long-term perspective.

• Financial Planning: A comprehensive financial plan is essential for identifying short-term and long-term goals, which in turn dictates the appropriate investment strategy.

• Lifestyle Funds: These funds automatically adjust the asset allocation based on the investor’s age and retirement timeline, providing a hands-off approach to managing investments.

• Retirement Planning: As individuals approach retirement, the focus shifts from growth to income and risk management, making professional advice invaluable.

Key Links:

Integrity Wealth Advisors

Integrity Wealth Advisors, Inc. | Facebook

Steven H. Wagner | LinkedIn

Integrity Wealth Advisors | Twitter

steve@iwaplan.com

Contact the Host - vince@thecfoathome.com

Our thoughts, feelings, and emotions about money are key factors in determining our financial success. On this episode of CFO at Home, Vince talks with Pericles Rellas, a money mindset expert who has worked with tens of thousands of people for more than two decades to help them live lives of power, purpose and prosperity, using his concept of the "financial thermostat". They explore how our financial thermostats can dictate our earning and saving behaviors, the four keys to resetting your financial thermostat, and more. You can learn more about Pericles and the Financial Thermostat by visiting PericlesRellas.com

Key Takeaways:

• Financial Thermostat: Our financial thermostat is an internal setting that influences how much money we can earn and keep. It regulates our thoughts, feelings, and emotions about money.

• Understanding Money: Recognizing money as a currency that flows in a circle is crucial. Blocks in the flow of money, whether incoming or outgoing, can impede financial growth.

• Flow Focus: Identifying where your money is going and redirecting it towards intentional goals can empower financial decisions and create a sense of control.

• Prosperity Structure: Instead of a traditional budget, create a prosperity structure that includes all expenses and savings, fostering a mindset of growth rather than limitation.

• Mentoring: Finding a mentor or coach who resonates with you can provide guidance and accountability, helping to shift paradigms and reach financial goals.

Key Links:

• Pericles Rellas

• Pericles Rellas | YouTube

• Pericles Rellas | Facebook

• Contact the Host - vince@thecfoathome.com