Financial Planning is a marathon, not a sprint.  But it can be helpful to break this process down into several short sprints and focus on one item at a time.   Today, Chad Castle and Jessica Burch walk us through the five sprints you'll focus on in financial planning. A well-rounded financial plan doesn't happen all at once.

• Sprint #1 - Secure your retirement income
• Sprint #2 - Establish your investment account
• Sprint #3 - Taxes Matter...a lot!
• Sprint #4 - LTC expenses can wipe out your portfolio
• Sprint #5 - What is your Legacy?

(This idea originally came from Nick Davis at Brindle & Bay Wealth Management.)

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Winnow Wealth Website: https://winnowwealth.com/

Winnow Wealth Phone Number: (254) 776-8400

What we BELIEVE will dictate our decisions.  Chad Castle and Jessica Burch of Winnow Wealth explain 6 beliefs that are key to planning your financial future.

• Belief #1 - Markets do very well over time (and short-term losses are part of it)
• Belief #2 - Its difficult to time the market (capture gains / avoid losses)
• Belief #3 - Betting on last year's winner is a bad approach
• Belief #4 - Media is a bad source for decision making
• Belief #5 - Our emotions have a huge impact on our financial outcomes
• Belief #6 - There is ALWAYS someone that did better than me

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Winnow Wealth Website: https://winnowwealth.com/

Winnow Wealth Phone Number: (254) 776-8400

The key to financial success starts with having the proper mindset.  Did you know that while investments generally earn a return rate of around 10%, investors only earn around 3%?  That's because too often, we give in to our emotions when market conditions change.  Today, Chad Castle and Jessica Burch of Winnow Wealth dive into this concept.  We cover:

1. Mental preparation is a cornerstone to good investment behavior
2. The Behavior Gap
3. The markets WILL go down, and often.  Expect it.
4. The markets WILL rebound, in time.  Be patient.
5. Our return is often correlated to the risk (volatility) we are willing to take on
6. Mentally prepare to take advantage of periods of market stress (buy low)

Dalbar Website: https://dalbar.com/

Contact Us:

Winnow Wealth Website: https://winnowwealth.com/

Winnow Wealth Phone Number: (254) 776-8400

Inflation has been the major topic of conversation in recent weeks.  Today, Chad Castle and Jessica Burch of Winnow Wealth break it all down - including why inflation is so dangerous.

1. What is inflation and why should I care?
2. Inflation is often referred to as a “hidden tax”
3. Inflation erodes the “spendability” of our money
4. Inflation is silent but deadly
5. We MUST invest to beat inflation
6. Inflation and the Rule of 72

Contact Us:

Winnow Wealth Website: https://winnowwealth.com/

Winnow Wealth Phone Number: (254) 776-8400

In our second episode, Chad Castle and Jessica Burch break down the two types of risk in retirement planning - short-term (market volatility) and long-term (inflation).

Most investors are aware of short term market volatility - it makes for great headlines in the financial media and can often cause investors to be too active when it comes to making changes to their portfolio.  Remember, your investments can be like a bar of soap - the more you touch it, the less you have.  Historically, the more you "zoom out," the market shows more straight-line growth.

Conversely, we have inflation - something that's been a big headline in 2022.  Often, retirees and pre-retirees want to be "safe" with their investments.   Being too safe, however, can lead to an erosion of your spending power due to inflation - especially at current rates of 6 or 7 percent!   A $100,000 portfolio may only get you $93,000 worth of goods and services at a 7% inflation rate.

Chad explains "The Rule of 72," a quick "back of the napkin" equation to measure your portfolio's growth - as well as inflation.

Solving for both of the risks - volatility and inflation - can be hard.   It depends largely on an investor's risk tolerance and your individual situation.  This is why the team at Winnow Wealth works to create an individualized plan for each client.

Contact Us:

Winnow Wealth Website: https://winnowwealth.com/

Winnow Wealth Phone Number: (254) 776-8400

In our first episode, Chad Castle and Jessica Burch of Winnow Wealth discuss tax awareness in financial planning.   Taxes, of course, are unavoidable.  We break down income into  three types of tax "buckets" - taxable, tax deferred, and tax advantaged.

Often, folks try to avoid short term tax headaches, and this can lead to much bigger problems later.  Would you rather pay a known tax rate now, or an unknown tax rate later on money that's grown later?  A good financial and retirement plan must take taxes into account.  

Chad and Jessica explain how the team at Winnow Wealth is set up to assist you with your individual financial plan, including tax planning.

Contact Us:

Winnow Wealth Website: https://winnowwealth.com/

Winnow Wealth Phone Number: (254) 776-8400

Meet Chad Castle and Jessica Burch of Winnow Wealth.  They believe the financial services industry is full of what we would call financial impurities: excess taxes. excess fees, and excess expenses that are keeping people from reaching their particular financial goals. And the whole point of Winnow Wealth is to help people figure out how to get rid of all the impurities in their financial dealings, whether that's a cost of their debt, investment fees and expenses and more. If we can figure out how to reduce those things in one's portfolio, then it's really going to help folks reach a better and more robust financial outcome. 

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Winnow Wealth Website: https://winnowwealth.com/

Winnow Wealth Phone Number: (254) 776-8400