Episode 121: The Relationship You Want with Your Financial Advisor with Dasarte Yarnway

Episode 121: The Relationship You Want with Your Financial Advisor with Dasarte Yarnway

Behavioral Finance
Behavioral Finance
Episode 121: The Relationship You Want with Your Financial Advisor with Dasarte Yarnway
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Dasarte Yarnway is the Founder & Managing Director of Berknell Financial Group, an innovative independent wealth management firm focused on helping millennials and seasoned investors design their best lives.

Since the firm’s inception, Berknell Financial Group has become one of the most notable millennial-led financial services organizations. In an industry that focuses on revenue and dollars-invested, Dasarte realized that a firm’s value is created through how they could invest in their clients. Through this, The Wealth Bridge™ , Private Client Groups and Berknell Athletes were created. With his passion for listening to his clients greatest concerns and applying realistic solutions, Dasarte has become the go-to partner for millennials, growing families and seasoned investors alike. Berknell encapsulates this approach in their motto: Advice With You In Mind.

Coined a “financial thought leader” and Guru by NerdWallet and Financial Planning Magazine, Dasarte believes in meeting you where you are. He offers advice and insight through his weekly podcast, The Young Money Podcast, three books (Dating Benji 2016, Young Money 2018, Pay Me In Equity 2019) and weekly blog. His prayer is that you may design your wealth on your terms.

HERE’S WHAT YOU’LL LEARN FROM THIS EPISODE:

  • The story of how Dasarte got into the financial world
  • The group Dasarte likes to empower around their finances
  • How he built an ecosystem of financial knowledge for a community of people
  • Why Dasarte embodies a mindset of servant leadership
  • Applying the R.I.I.T.E. planning process
  • The reason Dasarte has applied the lighthouse method in all that he did
  • What the bigger picture for Berknell Financial looks like
  • The changes Dasarte has made to build his business more efficiently
  • The responsibility Dasarte feels to improving the financial industry
  • The hardest business lesson learned by Dasarte
  • The niche that Berknell Financial is continuing to reach
  • The biggest thing many clients don’t understand
  •  The unique challenges athletes face with financial decisions
  • Who the real hero is in the advisor-client relationship and why

LINKS WE MENTIONED ON THE SHOW:

GET SOCIAL WITH DASARTE AND LET HIM KNOW YOU HEARD ABOUT HIM HERE

ENJOY THE SHOW?

Episode 120: Diversity and Inclusion in Financial Planning with John Eing

Episode 120: Diversity and Inclusion in Financial Planning with John Eing

Behavioral Finance
Behavioral Finance
Episode 120: Diversity and Inclusion in Financial Planning with John Eing
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John Eing is a partner and financial advisor at Abacus Wealth Partners.  As a financial advisor, John is passionate about simplifying and demystifying finances for his clients, and creating sound financial strategies allowing them to do what they love most.  He is also a member of the firm’s M&A team and investment committee.  Prior to joining Abacus, John was the Controller of Wells Fargo’s $30B asset-based lending group.  He holds an Executive MBA from the Anderson School of Management at UCLA, a BA in Economics from UC Berkeley, is a Certified Public Accountant, and a CERTIFIED FINANCIAL PLANNER™.

In his free time, John and his wife, Andrea, enjoy spending time with their two children Nathan (8) and Mia (4).  In his free, free time John is an avid fan of the Los Angeles Lakers.

HERE’S WHAT YOU’LL LEARN FROM THIS EPISODE:

  • How Abacus Wealth Partners is focusing on diversity, equity and inclusion
  • Why you should do everything that makes you feel uncomfortable in business
  • The difference between diversity and inclusion
  • The path that led John to financial planning and Abacus Wealth Partners
  • How to provide a space to openly discuss diversity, equity and inclusion in the work environment
  • The benefits seen at Abacus with the cultural lunch and learns
  • Diversity gaps in the financial industry
  • How understanding your client’s cultural background can make you a better advisor
  • A hurdle for financial education across different nationalities
  • How to turn the diversity, equity and inclusion conversation into action
  • Why personal finance must be taught in schools
  • What progress might look like when expanding diversity in the financial industry

LINKS WE MENTIONED ON THE SHOW:

GET SOCIAL WITH JOHN AND LET HIM KNOW YOU HEARD ABOUT HIM HERE

ENJOY THE SHOW?

Episode 120: Diversity and Inclusion in Financial Planning with John Eing

Episode 119: Are You Better or Worse off Financially in 2020?

Financial Planning
Financial Planning
Episode 119: Are You Better or Worse off Financially in 2020?
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Are You Better or Worse off Financially In 2020?

One of the fun parts of being a financial planner is getting to field and answer questions from clients and readers all around the country. In these Work Your Wealth episodes I’ll be taking time to address and answer questions I’ve come across from readers and clients throughout my career. Today I’m answering the above question.

HERE’S WHAT YOU’LL LEARN FROM THIS EPISODE:

  • Why the end of the year is my favorite time of year for clients
  • Questions I consistently receive as the year is closing out
  • A way to gauge if you are better or worse off financially this year
  • First step in measuring your financial progress
  • The measurement to use when evaluating your financial health
  • How to calculate your net worth
  • A good way to evaluate your debt situation for the year
  • The check you should be doing on your debt every January
  • Why you should review your spending throughout the year
  • How your savings goals play into your financial health
  • Different savings vehicles you can utilize to grow your net worth
  • A few things you should consider when talking about your retirement savings
  • The role a change in income can play in figuring out if you’re financially better off this year
  • How “lifestyle creep” could potentially hurt your financial health
  • Why employer benefits must be evaluated each year

LINKS WE MENTIONED ON THE SHOW

LET’S CONNECT!

ENJOY THE SHOW?

Episode 111: College Planning for Your Kids with Beth Greulich

Episode 111: College Planning for Your Kids with Beth Greulich

Family
Family
Episode 111: College Planning for Your Kids with Beth Greulich
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This week I sat down again with Beth Greulich, CFP® to talk through how to financially plan for your kids to go to college and some tricks along the way.

Beth is a Certified Financial Planner™, Certified Divorce Financial Analyst, and Partner at Abacus.  After a career in market research, she took some time off to raise a family. As she considered what to do next, she was driven by the memory of her grandmother and her desire to help others who lacked confidence with their money management skills.

As a financial advisor, she works closely with her clients, many of whom are women, to develop a unique and personalized financial plan that solves their specific needs. It’s extremely important to her that each of her clients clearly understand and can visualize the different paths/options that lead them to their financial independence. There are many forks in the road of life, so it’s important and extremely empowering to understand the long-term impact of each decision along the way.

HERE’S WHAT YOU’LL LEARN FROM THIS EPISODE:

  • The main concern people have around funding education for their children
  • The first step in planning for college for your kids
  • When to start exploring college campuses
  • The importance of exploring college interests early
  • The best time to open a 529 plan
  • What it looks like to set up a 529 plan before your child is born
  • Where a college fund should rank on your financial priorities
  • What should be funded before the college savings account
  •  Considerations when thinking about college financial aid
  • The most important things for kids to keep in mind while in college
  • When to speak to your kid about financial aid available for college
  • How subsidized and unsubsidized loans can come into play
  • The amount of loan a student can take before having a cosigner
  • How to help your children feel empowered when making college decisions
  • Shop around and negotiate! Here’s how
  • How to financially plan for college if you’re unsure if you child will even attend
  • What to do if you have a surplus in your 529 plan

GET SOCIAL WITH BETH AND LET HER KNOW YOU HEARD ABOUT HER HERE

ENJOY THE SHOW?

Episode 110: Financial Planning Needs for Women with Wende Headley

Episode 110: Financial Planning Needs for Women with Wende Headley

Financial Planning
Financial Planning
Episode 110: Financial Planning Needs for Women with Wende Headley
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This week I sat down again with Wende Headley, CFP® to talk through some financial planning needs for women and some of the hurdles we tend to face.

Wende is a Certified Financial Planner™,  Certified Divorce Financial Analyst, and Partner at Abacus.  She leads the firm-wide Women & Money initiative, which provides resources and education about the broad range of financial issues faced by women. In addition to her primary role as wealth manager for her clients, she regularly speaks at local women’s and professional organizations, hosts investment discussion circles with women in Pasadena, and serves as an AARP Tax Aide volunteer for low-income seniors.

She earned an MBA from Harvard University, a BA in Economics and French from the University of Michigan, and a Certificate in Financial Planning from UCLA.

She enjoys spending quality time with her husband and children. Whenever possible, you might find her skiing, running, doing a triathlon, volunteering at her kids’ school, or attempting to get that next book read for her Book Club.

HERE’S WHAT YOU’LL LEARN FROM THIS EPISODE:

  • A big issue women tend to face around money
  • Why it’s challenging for women to take action in their financial lives
  • The best way to tackle money organization in your life
  • How a financial planner can help when you’re feeling stuck
  • How to take the first step in getting organized with your money
  • The different approaches Wende takes with her clients
  • What goals clients come to Wende with around their money
  • The biggest money topic women tend to struggle with
  • How Wende engages with women who don’t normally handle the finances in a relationship
  • The motivation for change for women around their finances

LINKS WE MENTIONED ON THE SHOW:

GET SOCIAL WITH WENDE AND LET HER KNOW YOU HEARD ABOUT HER HERE

ENJOY THE SHOW?

Episode 106: How to Become a Millionaire with Ariel Ward

Episode 106: How to Become a Millionaire with Ariel Ward

Financial Planning
Financial Planning
Episode 106: How to Become a Millionaire with Ariel Ward
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This week I sat down again with Ariel Ward, CFP® to talk about how to become a millionaire and some of the small steps you can be taking now to help you down the road.

Ariel Ward, CFP® joined Workable Wealth in 2018 as a Financial Planner and in March of this year, made the move to Abacus Wealth Partners with me as a Financial Planner. She and I work closely together on our clients. She has 11 years of experience in the field of personal financial services and in helping clients develop financial clarity. She is passionate about helping professionals understand their financial lives and make better decisions with their money. Ariel is married to a pilot and spends as much time as possible exploring the US with her husband and 2 children. She enjoys working with clients in the aviation industry to make the most of their employee benefits and map out a plan for personal financial strength. She is a member of NAPFA, the XY Planning Network and the Financial Planners Association.

Ariel works virtually out of Charlotte, NC. She enjoys North Carolina’s mountains, beaches and everything in between. In her free time you can catch her walking to one of Charlotte’s excellent breweries, playing Scrabble or building Lego houses with her kids.

HERE’S WHAT YOU’LL LEARN FROM THIS EPISODE:

  • The first thing to do to start growing your net worth
  • The question I like to ask all of my clients to help judge progress
  • How being debt conscious can be an important step toward millionaire status
  • How student loans play into your plan of millionaire status
  • How critical employer-sponsored retirement savings accounts can be
  • Leveraging a Roth IRA or a backdoor Roth IRA
  • If you’re paired up, is maxing out two 401(k)s enough for retirement
  • A few items millionaires have leveraged to get to that status
  • Other areas to focus on beyond investments when working to become a millionaire
  • One of your most valuable assets to help you increase your net worth
  • How lifestyle inflation can delay your ability to become a millionaire
  • What a $5,000 raise could do to your net worth over 20 years
  • A fear small business owners have that could be hurting their millionaire status
  • Where a budget plays into your millionaire goal
  • The difference between saving a percentage of income vs. a specific dollar amount

LINKS WE MENTIONED ON THE SHOW

GET SOCIAL WITH ARIEL AND LET HER KNOW YOU HEARD ABOUT HER HERE

ENJOY THE SHOW?

Episode 106: How to Become a Millionaire with Ariel Ward

Episode 102: How to Know if You Can Afford for One Parent to Stay Home

Budgeting
Budgeting
Episode 102: How to Know if You Can Afford for One Parent to Stay Home
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This week I sat down again with Ariel Ward, CFP® to talk about how to know if you can afford for one parent to stay home.

Ariel Ward, CFP® joined Workable Wealth in 2018 as a Financial Planner and in March of this year, made the move to Abacus Wealth Partners with me as a Financial Planner. She and I work closely together on our clients. She has 11 years of experience in the field of personal financial services and in helping clients develop financial clarity. She is passionate about helping professionals understand their financial lives and make better decisions with their money. Ariel is married to a pilot and spends as much time as possible exploring the US with her husband and 2 children. She enjoys working with clients in the aviation industry to make the most of their employee benefits and map out a plan for personal financial strength. She is a member of NAPFA, the XY Planning Network and the Financial Planners Association.

Ariel works virtually out of Charlotte, NC. She enjoys North Carolina’s mountains, beaches and everything in between. In her free time you can catch her walking to one of Charlotte’s excellent breweries, playing Scrabble or building Lego houses with her kids.

HERE’S WHAT YOU’LL LEARN FROM THIS EPISODE:

  • How to financially navigate having one parent stay at home with the kids
  • The significance of knowing what your family expenses are
  • A few things people tend to forget when looking at monthly expenses
  • Expenses that might go away with one spouse at home
  • The budgets we establish for our clients when one person stays home
  • Why you should discuss how long the spouse will stay at home before returning to the workforce, if ever
  • Ideas for the working parent to increase income or flexibility
  • Options for the stay-at-home parent to still bring in an income
  • What to consider when it comes to employee benefits for the parent staying at home
  • How staying at home might change what you need for disability or life insurance
  • Changes that could take place with your investments by having one parent stay home
  • The conversations we have with clients when considering one parent staying at home
  • The most important question to consider when making the change
  • A couple of red flags we’ve seen when looking at cash flow
  • The unique story Brian and I have about having one parent stay home
  • The agreement Ariel worked out with her employer to allow her to stay at home
  • What happens when the at-home parent is trying to do too much

GET SOCIAL WITH ARIEL AND LET HER KNOW YOU HEARD ABOUT HER HERE

ENJOY THE SHOW?

Episode 101: What Should Your Net Worth Be?

Episode 101: What Should Your Net Worth Be?

Financial Planning
Financial Planning
Episode 101: What Should Your Net Worth Be?
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What Should Your Net Worth Be?

One of the fun parts of being a financial planner is getting to discuss some of the money moves we’ve made in our household knowing clients and readers are going through similar things. In these Work Your Wealth episodes I’ll be taking time to address how we approached the different money situations and the results of our decisions. Today I’m talking about how to track your net worth and some tools and tips to move the needle in the right direction.

HERE’S WHAT YOU’LL LEARN FROM THIS EPISODE:

  • One of the most common questions I get about finances
  • The best way to do a health check of your finances
  • How often you should be checking on your net worth and what it can tell you over the years
  • The place to start when calculating your worth
  • Assets and liabilities that you should factor in to your calculation
  • Why you shouldn’t compare your worth with other friends, family, etc.
  • The average net worth for Americans in their mid 30s
  • A big reason the average net worth for a 35 year old is where it is
  • Another way to evaluate your financial health (especially if you are in your 30s)
  • The amount of savings you should have when you reach age 30
  • Where you should be financially at age 40
  • A quick equation to analyze your ideal net worth
  • Understanding how much you need set aside for retirement
  • Things that negatively impact your net worth and how to improve on it
  • If you haven’t started investing, here’s where to start
  • A few resources to help you get started towards savings
  • A few budget savings allocations that can help improve your net worth
  • Two methods to paying off your debt
  • How we keep track of savings goals in our household
  • If you want to go big on growing your finances, here are a few tips

LINKS WE MENTIONED ON THE SHOW

LET’S CONNECT!

ENJOY THE SHOW?

Episode 101: What Should Your Net Worth Be?

Episode 100: How Practicing Gratitude Can Impact Your Finances

Behavioral Finance
Behavioral Finance
Episode 100: How Practicing Gratitude Can Impact Your Finances
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One of the fun parts of being a financial planner is getting to discuss some of the money moves we’ve made in our household knowing clients and readers are going through similar things. In these Work Your Wealth episodes I’ll be taking time to address how we approached the different money situations and the results of our decisions. Today I’m talking about the amazing and positive impact gratitude can have on your finances.

HERE’S WHAT YOU’LL LEARN FROM THIS EPISODE:

  • How to have a more fulfilling life through gratitude
  • The way gratitude can positively effect your own finances
  • What gratitude can prevent in your financial life
  • Things to be cautious of that can bust your budget
  • When we feel like we have less than what we need, we tend to do this
  • How gratitude can help you curb your impulse spending
  • Where being grateful for what you currently have can lead you
  • When was the last time you made a financial decision because you were afraid/frustrated with your current situation
  • How chasing dollars can impact your life in other areas
  • Finding the balance between life fulfillment and needing more stuff
  • How to approach a new financial opportunity to maximize the impact it will have
  • The dangers of making financial decisions out of fear
  • How to find fulfillment and growth in your finances
  • Understanding if your spending is in line with your values
  • The effects gratitude can have on your emotional, mental and physical health
  • The snowball effect of gratitude and giving
  • The positive effects of approaching life with abundance
  • The best way to avoid making financial decisions out of fear
  • A way to approach financial decisions when you desire to help others
  • Do this to create a gratitude focused financial plan
  • The number of Americans stressed out about money regardless of income level
  • The importance of reflection on the gratitude that you feel
  • The impact an attitude of gratitude will have on your finances

LINKS WE MENTIONED ON THE SHOW

LET’S CONNECT!

ENJOY THE SHOW?