Tag: Advisor Relations

Financial Advice for People with Aging Parents – Sandwich Money Part 3

Financial Advice for People with Aging Parents – Sandwich Money Part 3

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Do you have aging parents and kids? This video is for you. It’s the third video from our Sandwich Money series, where Mike and Sophie discuss financial considerations for adults who have aging parents while also caring for their own children. At the end, Mike asks “Is it more impactful for them [beneficiaries] to get a big lump sum after they’ve already gotten through those hurdles on their own?”

This video is part 3 of a 3-part series called “Sandwich Money”, where Sophie and Mike discuss financial advice for adults who are sandwiched between raising children and caring for aging parents.

Part 1: Financial Advice for Young Parents

Part 2: Financial Advice for Adults with Children in the Workforce

Part 3: Financial Advice for Adults with Aging Parents

 

Topics in this episode include:

  • What do people with aging parents face financially?
  • Planning for long-term care
  • Why is it important to talk to your parents about their estate plan?
  • How can I bring up the estate plan talk with my parents?
  • Who do you decide who to make the executor of your will? the POA?
  • How do you set up a will without stress?
  • Have you ever had an executor challenge their parents?
  • When’s the right time to talk to your parents about their estate plan?
  • Bonus time: Retirees, how can you make sure your kids are comfortable and ok?
  • Retirees taking families on trips vs giving a lump sum inheritance

 

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Financial Advice for Parents of Adult Children – Sandwich Money Part 2

Financial Advice for Parents of Adult Children – Sandwich Money Part 2

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Are your kids starting new jobs? Graduating college soon? Getting promoted? Do they listen to you? Do you wish there was a mutual third party to help set them up for financial success? This video is part 2 of a 3 part series called “Sandwich Money”, where Sophie and Mike discuss financial advice for adults who are sandwiched between raising children and caring for aging parents.

Part 1: Financial Advice for Young Parents

Part 2: Financial Advice for Parents of Adult Children

Part 3: Financial Advice for Adults with Aging Parents

Topics in this episode include

  • Financial milestones for young adults
  • What should people consider with their first job offer?
  • Story: max your match, not max your contribution
  • Getting an unbiased third party for financial advice
  • Uncomfortable family conversations about money
  • Quality time instead of financial logistics and numbers
  • How do you introduce your young adult to a financial advisor?
  • What changes financially when you become an empty nester?
  • If you have multiple kids, who do you want to name as the executor?
  • A health scare that ended up positively
  • Cautionary tale: Have written agreements
  • Approaching the Estate conversation with your adult children
  • Ideal sequence of financial conversations for your adult children with an advisory team
  • What happens if you can’t think of someone to be the executor of your will?
  • What’s the scope of a corporate trust?
  • When do lawyers get involved?

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Financial Advice for Parents with Children in School – Sandwich Money Part 1

Financial Advice for Parents with Children in School – Sandwich Money Part 1

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Parenting is hard!

Mike eases the burden a bit with some tips about money for parents with children college age and younger.

This video is part 1 of a 3-part series called “Sandwich Money”, where Sophie and Mike discuss financial advice for adults who are sandwiched between raising children and caring for aging parents.

Part 1: Financial Advice for Young Parents

Part 2: Financial Advice for Adults with Children in the Workforce

Part 3: Financial Advice for Adults with Aging Parents

Topics in this episode include:

  • Why is money an important topic for parents with young children?
  • What does it mean for a kid to be financially literate?
  • When is the right time to talk to kids about money?
  • How do you explain the relationship between work and money to kids?
  • How do you make learning about money fun for kids?
  • How can we help children understand the value of money when it’s digital?
  • How to teach kids about saving money.
  • When should you talk to your child about credit cards and credit debt?
  • How can I teach my child about investing money?
  • How can an advisor help parents with young kids?
  • What’s the difference between trust and a will?
  • What’s the going rate for allowance?

Connect with Sophie

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Talking To Your Family About Your Estate Plan (Ep. 25)

Talking To Your Family About Your Estate Plan (Ep. 25)

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Why is talking about money with your family so taboo? How can we take some of the awkwardness out of talking about money? Is it important to discuss your estate plan with your children? How much money transparency is too much? Hear what Jason Deshayes, COO and Partner, and Sophie Howell, CXO, have to say about why talking about money can be so funny.

 

Listen now to learn:

  • How do different generations approach money differently?
  • How can you set good money habits in your family?
  • How can you contextualize money for small children?
  • How do you bring up the estate planning conversation with your children?

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Connect with Sophie Howell

 

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What is an Experience Team? (Ep. 24)

What is an Experience Team? (Ep. 24)

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What is the Cook Wealth Experience Team? What is a Chief Experience Officer? How do these things help us deliver the best client and employee experience possible? Learn how the idea of the Experience Team at Cook Wealth, LLC came to be. Jason Deshayes hosts Sophie Howell on the latest episode of the Own Your Wealth Podcast.

 

Listen now to learn:

  • What does a Chief Experience Officer do?
  • Who is on the experience team?
  • Where did the idea for the experience team come from?

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Connect with Sophie Howell

 

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What are Wealth Management Advice Teams? (Ep. 23)

What are Wealth Management Advice Teams? (Ep. 23)

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What is Cook Wealth doing to serve clients better? How are we making sure we can serve the needs of our clients AND making sure we keep top talent on our team as we grow?

Historically, the wealth management model has centered around one advisor serving one client. What happens if the advisor leaves the company? What happens if the advisor goes on vacation? How do people get training to become wealth advisors? At Cook Wealth, our Advice Team models include a Senior Advisor, an Associate Advisor, a Planner, and a Client Services Associate. This model allows for growth within roles. It also ensures clients have zero gaps in service and their needs are served efficiently.

Listen now to learn:

  • What are Advice Team Roles?
  • What does each role do?
  • How do Advice Teams ensure I have the best service?
  • What is Cook Wealth working on next?

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Giving Tuesday: Being Intentional With Our Time, Talents, and Treasures, With Jake Rudy (Ep. 18)

Giving Tuesday: Being Intentional With Our Time, Talents, and Treasures, With Jake Rudy (Ep. 18)

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Giving generously—on Giving Tuesday and all year long—is one of the best ways to expand your impact, support the causes you care about, and create a legacy that lasts. And it goes far beyond dollars and cents. 

In this episode of Own Your Wealth, host Jason is joined by Cook Wealth Planner, Jake Rudy. In this intentional conversation, they talk about cultivating generosity early in life, even when you don’t have much to give, leveraging your time and talents, and exploring tax-advantaged giving tools. 

Listen now to learn:

  • How the three categories of giving work together to build a generous life
  • Why generosity is worth planning for
  • The role Donor-Advised Funds and Qualified Charitable Distributions play in tax-advantaged giving
  • How Jason and Jake have seen, firsthand, the impact charitable giving has on family, communities, and our corner of the world
  • And more

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Equity Compensation: How to Maximize Your Benefits and Optimize Your Taxes, with Mike Holloway, CFP® (Ep. 16)

Equity Compensation: How to Maximize Your Benefits and Optimize Your Taxes, with Mike Holloway, CFP® (Ep. 16)

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Equity compensation is becoming an increasingly popular way for employers to reward and retain their top talent. But as enticing as this benefit sounds, it’s one of the most complicated and misunderstood forms of compensation—often triggering a tax bill employees aren’t prepared to cover. 

In this episode, host Jason and special guest Mike Holloway, CFP® explain the differences between incentive stock options and non-qualified stock options, and the tax implications of each. Because only when you understand how to make the most of your equity compensation can you truly ‘Own Your Wealth.’ 

Listen now to learn:

  • How each equity compensation type differs
  • The tax implications of each form of equity compensation
  • Why an 83B election is often one of the best ways to enjoy significant future tax savings
  • When to meet with a financial advisor, so you have ample time to weigh your options
  • And more

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Why Your Last CPA Ghosted You — and Why Cook Wealth’s Won’t (Ep. 15)

Why Your Last CPA Ghosted You — and Why Cook Wealth’s Won’t (Ep. 15)

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If you’ve been ‘ghosted’ by your CPA, you’re not alone. The accounting industry is undergoing significant changes. Big tech is snapping up CPAs left and right, early retirement is becoming the new norm, and for the CPAs that are left, uninviting work environments and gruelling hours at traditional firms make it hard for these professionals to meet every client’s needs—or return your calls. 

In this episode of Own Your Wealth, host Jason reveals the real reasons why a traditional CPA may not be your best choice for proactive, comprehensive tax planning support, especially if you have a high income or complex tax needs. 

Listen now to learn:

  • Why traditional CPAs prioritize compliance over careful planning
  • Practical advice for individuals and businesses looking for a new CPA
  • The best time of year to start your CPA search
  • How Cook Wealth’s CPAs approach tax planning and optimization
  • And more

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Cook Wealth Management Group, LLC is a registered investment advisor with the U.S. Securities and Exchange Commission.

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