Month: August 2024
How To Protect Your Assets and Loved Ones (EP 18)

How To Protect Your Assets and Loved Ones (EP 18)

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Did you know that without an estate plan, state laws will decide who inherits your assets? 

Discover how to take control.

In this informative episode of ‘Money Metaphors,’ host Jason Coddington discusses the critical importance of estate planning. As Jason unpacks the complexities, he offers practical advice and personal anecdotes to illustrate how a well-crafted estate plan could protect your assets and bring comfort to your loved ones.

Key Highlights:

  • Why Estate Planning Matters: Learn how an estate plan ensures your assets are distributed efficiently, avoiding the costly and inefficient state-controlled process
  • Essential Components: Discover the must-have elements of an estate plan, including wills, beneficiary designations, trusts, durable powers of attorney, and healthcare directives**
  • Personal Insights: Hear Jason’s personal story about his mother’s estate planning and how a trust avoided significant probate costs
  • Tools and Recommendations: Explore practical tools like Trust and Will that simplify creating and managing your estate plan
  • Avoiding Probate: Understand how joint accounts, updated beneficiary designations, and trusts prevent probate, ensuring a smooth transfer of assets
  • Durable Power of Attorney and Healthcare Directives: Learn why these documents are crucial for maintaining control over financial and medical decisions if you become incapacitated
  • Trusts vs. Wills: Get insights into the added protections and benefits of trusts, especially in states like California with high property values
  • Gifting and Tax Strategies: Gain knowledge on current gift tax exclusions and strategies for gifting assets during your lifetime
  • And much more!

Tune in to ‘Money Metaphors’ for a comprehensive guide on estate planning and learn how to efficiently protect and manage your financial legacy.

Resources:

Connect with Jason Coddington:

Disclosure-

**LPL Financial representatives offer access to Trust Services through The Private Trust Company N.A. an affiliate of LPL Financial.

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Brewed Success: Financial Insights Through Beer Analogies (EP 17)

Brewed Success: Financial Insights Through Beer Analogies (EP 17)

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Discover the parallels between brewing beer and smart investing in this unique episode!

Join host Jason Coddington on this episode of ‘Money Metaphors’ as he sits down with Josh Bakker, brewmaster at Magosh Brewing in Kingsburg, California. They explore the art of brewing beer and reveal how these same principles can be applied to financial planning. Discover how a methodical approach to brewing translates to crafting a successful financial strategy, ensuring a balanced and rewarding life.

Key Highlights:

  • Brewing and Investing: A Parallel Journey: Learn how gradual improvement in brewing (“bullets before cannonballs”) mirrors the prudent approach in financial investments. Both require patience, research, and incremental progress before committing significant resources
  • Ingredients and Diversification: Just as beer requires a precise mix of ingredients, a well-rounded investment portfolio demands a mix of asset types. Understand the importance of diversification through analogies with mutual funds and ETFs**
  • Time and Patience in Both Worlds: Both brewing beer and financial planning benefit from time. Explore how time plays an important role in fermentation for beers and in compounding for investments
  • Simplifying Complex Processes: Break down the brewing process into simple steps – from the hot side to the cold side – and relate these to creating a comprehensive financial plan
  • Real-Life Analogies: Jason and Josh use relatable analogies to explain complex financial concepts, making it easier for listeners to grasp ideas like diversification, risk management, and long-term planning
  • And much more!

Tune in to ‘Money Metaphors’ for this insightful episode that blends the art of brewing with smart financial strategies. Don’t miss out on these unique insights!

Resources:

Connect with Jason Coddington:

Connect with Josh Bakker:

About our Guest: 

Josh Bakker transitioned from a successful career in finance at Prudential and AIG to become a brewmaster. He began his journey into brewing as a hobby, which evolved into opening Magosh Brewing after over a decade of meticulous practice and learning. His unique blend of financial acumen and brewing knowledge offers valuable insights into both worlds, making complex financial strategies accessible and engaging.

 

**Disclosures

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.

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