- 40
- 104 468
Modearn
เข้าร่วมเมื่อ 27 ม.ค. 2022
Smart Spending Strategies: Life, Family, Career & Investments | Couchside Conversations (Ep. 19)
Do you spend too much? Too little? Just right? Answering this question is more complicated than it might sound. In this session, Morton advisors will help attendees bucket their spending into areas that are most meaningful to them and their lifestyles. For example, how much spending should go toward your memory bank vs. bank account? There are dozens of spending decisions we make on a daily basis, and by having a clear plan, investors will be much more likely to feel empowered to enjoy their wealth.
Here are some key takeaways from their conversation:
- A spending strategy aligns short and long-term goals with priorities and values. It helps to categorize your needs, wants and dreams separately so you can allocate different parts of your wealth toward different buckets accordingly. It is natural for a spending strategy to evolve throughout life.
- Kevin introduces himself as someone who prioritizes creating meaningful experiences and enjoys spending on traveling, concerts, etc. Patrice emphasizes financial responsibility and long-term planning, while Mike advocates for strategic spending and allowing flexibility in achieving life goals.
- Session participants identified their personal needs, wants and dreams, illustrating the importance of written goals for clarity and accountability.
- Needs include things like housing, healthcare and food. Wants are short-term desires like a vacation in the next year or home upgrades. Dreams are long-term aspirations like a second home or early retirement.
- When building your spending plan, it is crucial to start with an emergency fund (3-6 months of expenses), take advantage of employer 401(k) matches, pay off high-interest debt before investing, and automate savings to ensure consistent contributions toward goals.
- Younger generations often lack guidance due to insufficient assets under management. Morton’s approach includes working with clients on financial decisions without requiring a traditional AUM threshold.
TIMESTAMPS
0:00 Intro
2:19 Kevin's spending personality
3:08 Patrice's spending personality
5:30 Define whether you are a spender or saver
16:20 Identify your needs in life
19:25 Identify your wants in life
22:35 Identify your dreams in life
35:32 If you were given $500K, what would you put this money toward?
36:35 If you were given $50K, what would you put this toward?
42:22 Modearn decisions
*SUBSCRIBE*
TH-cam: www.youtube.com/@modearnbymorton
*FOLLOW*
Instagram: modearn_by_morton
*CONNECT*
with Patrice on LinkedIn: www.linkedin.com/in/patricebening/
with Kevin on LinkedIn: www.linkedin.com/in/kevin-rex-morton/
with Mike on LinkedIn: www.linkedin.com/in/mrudow1/
*VISIT*
our website to learn more about us: www.mortonwealth.com
*ABOUT US*
Let us introduce ourselves! We are Modearn™, a platform that provides proactive and creative financial advice for the next generation of earners out there. Because the truth is, you shouldn’t have to wait until you’ve already accumulated your wealth to get solid financial advice. Besides, research has shown the younger you start to invest and plan for your future, the more successful you will be in the long run. That’s why we created Modearn™, an offering powered by Morton Wealth that will remind you of a concierge doctor, but with planning and advice sprinkled in throughout the year. We will be there when you need us.
*SCHEDULE*
an introductory call with a Modearn™ advisor: www.mortonwealth.com/services/modearn
Information presented herein is for discussion and illustrative purposes only and is not intended to constitute financial advice. The views and opinions expressed by the speakers are as of the date of the recording and are subject to change. It should not be assumed that Morton will make recommendations in the future that are consistent with the views expressed herein. These views are not intended as a recommendation to buy or sell any securities, and should not be relied on as financial, tax or legal advice. You should consult with your finance professional, accountant, or tax professional before implementing any transactions and/or strategies concerning your finances.
#financialplanning #financialfreedom #budget #personalfinance
Here are some key takeaways from their conversation:
- A spending strategy aligns short and long-term goals with priorities and values. It helps to categorize your needs, wants and dreams separately so you can allocate different parts of your wealth toward different buckets accordingly. It is natural for a spending strategy to evolve throughout life.
- Kevin introduces himself as someone who prioritizes creating meaningful experiences and enjoys spending on traveling, concerts, etc. Patrice emphasizes financial responsibility and long-term planning, while Mike advocates for strategic spending and allowing flexibility in achieving life goals.
- Session participants identified their personal needs, wants and dreams, illustrating the importance of written goals for clarity and accountability.
- Needs include things like housing, healthcare and food. Wants are short-term desires like a vacation in the next year or home upgrades. Dreams are long-term aspirations like a second home or early retirement.
- When building your spending plan, it is crucial to start with an emergency fund (3-6 months of expenses), take advantage of employer 401(k) matches, pay off high-interest debt before investing, and automate savings to ensure consistent contributions toward goals.
- Younger generations often lack guidance due to insufficient assets under management. Morton’s approach includes working with clients on financial decisions without requiring a traditional AUM threshold.
TIMESTAMPS
0:00 Intro
2:19 Kevin's spending personality
3:08 Patrice's spending personality
5:30 Define whether you are a spender or saver
16:20 Identify your needs in life
19:25 Identify your wants in life
22:35 Identify your dreams in life
35:32 If you were given $500K, what would you put this money toward?
36:35 If you were given $50K, what would you put this toward?
42:22 Modearn decisions
*SUBSCRIBE*
TH-cam: www.youtube.com/@modearnbymorton
*FOLLOW*
Instagram: modearn_by_morton
*CONNECT*
with Patrice on LinkedIn: www.linkedin.com/in/patricebening/
with Kevin on LinkedIn: www.linkedin.com/in/kevin-rex-morton/
with Mike on LinkedIn: www.linkedin.com/in/mrudow1/
*VISIT*
our website to learn more about us: www.mortonwealth.com
*ABOUT US*
Let us introduce ourselves! We are Modearn™, a platform that provides proactive and creative financial advice for the next generation of earners out there. Because the truth is, you shouldn’t have to wait until you’ve already accumulated your wealth to get solid financial advice. Besides, research has shown the younger you start to invest and plan for your future, the more successful you will be in the long run. That’s why we created Modearn™, an offering powered by Morton Wealth that will remind you of a concierge doctor, but with planning and advice sprinkled in throughout the year. We will be there when you need us.
*SCHEDULE*
an introductory call with a Modearn™ advisor: www.mortonwealth.com/services/modearn
Information presented herein is for discussion and illustrative purposes only and is not intended to constitute financial advice. The views and opinions expressed by the speakers are as of the date of the recording and are subject to change. It should not be assumed that Morton will make recommendations in the future that are consistent with the views expressed herein. These views are not intended as a recommendation to buy or sell any securities, and should not be relied on as financial, tax or legal advice. You should consult with your finance professional, accountant, or tax professional before implementing any transactions and/or strategies concerning your finances.
#financialplanning #financialfreedom #budget #personalfinance
มุมมอง: 2 256
วีดีโอ
How Your Money Mindset Impacts Your Goals | Couchside Conversations (Ep. 18)
มุมมอง 9Kหลายเดือนก่อน
How does our relationship with money shape our financial goals? How does the way we perceive wealth and success impact our sense of worth? Is it possible to reverse unhealthy money habits and thought patterns? In this episode live from Morton Wealth’s 2024 Investor Symposium, Modearn™ Advisors Patrice Bening, Jenn Caruso and Brittany Yudkowsky explore the complex emotions that make up your “mon...
Estate & Tax Laws Might Change Next Year: What You Should Know | Couchside Conversations (Ep. 17)
มุมมอง 4.4K2 หลายเดือนก่อน
Estate and tax laws are set to expire in 2025, which may usher in new changes. Modearn™ Advisor Stacey McKinnon, Estate and Tax Attorney Brian Standing and Managing Partner of Ascend Advisors Scott Gilmore take the stage at @morton_wealth's 2024 Investor Symposium to discuss how to prepare for these potential modifications. Here are some key takeaways from their conversation: - The tax law that...
The Financial Side of Parenthood: IVF, Birth and Beyond | Couchside Conversations (Ep. 16)
มุมมอง 2.8K3 หลายเดือนก่อน
What is the true cost of parenthood? While many people dream of expanding their family, it is important that aspiring parents fully understand the price tag on things like giving birth, childcare, education, adoption and IVF. Modearn™ advisors Beau Wirick and Stacey McKinnon discuss family planning, how personal this process is, and the importance of being aware of these costs. Here are some ke...
Creative Investments Beyond Stocks and Bonds | Couchside Conversations (Ep. 15)
มุมมอง 5773 หลายเดือนก่อน
There are more ways to invest than just in the traditional stocks and bonds market. Sometimes, thinking outside the box can unlock untapped potential for investors and offer ways to diversify one's portfolio and protect against volatility. Modearn™ advisors Kevin Rex and CEO Jeff Sarti discuss creative investments that offer opportunities for growth through emerging or niche markets. Here are s...
Money Questions I'm Too Embarrassed to Ask | Couchside Conversations (Ep. 14)
มุมมอง 6K4 หลายเดือนก่อน
Money can get personal. It’s intertwined with complex emotions, relationships, lifestyle decisions and mindsets. Therefore, it can be normal for many people to avoid asking vulnerable questions about money and talking about these potentially sensitive issues with each other. That’s why Modearn™ Advisors Patrice Bening and Stacey McKinnon are here to discuss money questions we’re too embarrassed...
Supporting Your Child's College Plan: A Guide for Parents | Couchside Conversations (Ep. 13)
มุมมอง 6K6 หลายเดือนก่อน
Navigating life after high school looks a lot different today than it did 20 years ago. With increased academic pressure/competition and higher college application fees, aspiring college students and their families face more stress than ever before. However, many young people are also realizing that a college degree may not be absolutely necessary for a successful career. Modearn™ Advisors Patr...
Smart Tips for Effective Cash Management | Couchside Conversations (Ep. 12)
มุมมอง 3.1K6 หลายเดือนก่อน
Smart Tips for Effective Cash Management | Couchside Conversations (Ep. 12)
Invest in Your Career: How to Maximize Your Benefits | Couchside Conversations (Ep. 11)
มุมมอง 6K7 หลายเดือนก่อน
Invest in Your Career: How to Maximize Your Benefits | Couchside Conversations (Ep. 11)
Buying a Home vs. Investing in Property | Couchside Conversations (Ep. 10)
มุมมอง 4.7K8 หลายเดือนก่อน
Buying a Home vs. Investing in Property | Couchside Conversations (Ep. 10)
Managing the Cost of Having Children | Couchside Conversations (Ep. 9)
มุมมอง 7K8 หลายเดือนก่อน
Managing the Cost of Having Children | Couchside Conversations (Ep. 9)
Keeping Up with the Joneses | Couchside Conversations (Ep. 8)
มุมมอง 4.7K9 หลายเดือนก่อน
Keeping Up with the Joneses | Couchside Conversations (Ep. 8)
The Problem With Most Financial Advisors | Couchside Conversations (Ep. 7)
มุมมอง 11K10 หลายเดือนก่อน
The Problem With Most Financial Advisors | Couchside Conversations (Ep. 7)
Parenting Tips for Financially Savvy Kids | Couchside Conversations (Ep. 6)
มุมมอง 6K10 หลายเดือนก่อน
Parenting Tips for Financially Savvy Kids | Couchside Conversations (Ep. 6)
Battle of the Spouses: Financial Edition | Couchside Conversations (Ep. 5)
มุมมอง 6K11 หลายเดือนก่อน
Battle of the Spouses: Financial Edition | Couchside Conversations (Ep. 5)
Gen X: Complexities of the Sandwich Generation | Couchside Conversations (Ep. 4)
มุมมอง 6Kปีที่แล้ว
Gen X: Complexities of the Sandwich Generation | Couchside Conversations (Ep. 4)
Current Me vs. Future Me: The Modern Investor Dilemma | Couchside Conversations (Ep. 3)
มุมมอง 6Kปีที่แล้ว
Current Me vs. Future Me: The Modern Investor Dilemma | Couchside Conversations (Ep. 3)
What are donor-advised funds? A tax strategy that can help maximize your charitable giving
มุมมอง 14ปีที่แล้ว
What are donor-advised funds? A tax strategy that can help maximize your charitable giving
Investing in Your Community: Charitable Giving & Impact | Couchside Conversations (Ep. 2)
มุมมอง 3.3Kปีที่แล้ว
Investing in Your Community: Charitable Giving & Impact | Couchside Conversations (Ep. 2)
How to Maximize Vacations for a Better Life | Couchside Conversations (Ep. 1)
มุมมอง 5Kปีที่แล้ว
How to Maximize Vacations for a Better Life | Couchside Conversations (Ep. 1)
They’re not supposed to know what to do at 17 that’s why people usually don’t use their degree.
You're right, a lot of people don't! That's why family and parents/guardians specifically can act as a really important guiding force for students who are still figuring out what they want to do.
OOOOOOOOOOO
WOW I AM SO HAPPY TO SEE THIS
Disclosure: Information presented herein are for discussion and illustrative purposes only. It should not be treated as financial advice, legal Advice, or tax advice, and it may not be relied on for the purpose of avoiding any federal tax penalties under the Internal Revenue Code. Morton makes no representation that the strategies described are suitable or appropriate for any person and it should not be assumed that Morton will make recommendations in the future that are consistent with the views expressed herein. The views and opinions expressed by the speakers are as of the date of the recording and are subject to change. The views and opinions expressed in the recording are those of the interviewee and may not necessarily reflect the views of Morton Wealth. These views may not be representative of the experiences of other clients, and do not provide a guarantee of future success or similar services. You should consult with your financial advisor and/ or legal professional to thoroughly review all information before implementing any strategies concerning your finances and/ or estate plans. Morton Wealth currently employs a licensed attorney who maintains an independent law practice (“Via Law Firm” or “Via Law”). Via Law is a separate and distinct entity from Morton Wealth. Morton Wealth neither owns any interest in Via Law nor controls its operations in any way. Similarly, Via Law and its attorneys neither own any interest in Morton Wealth nor control its operations in anyway. The services of Morton Wealth and Via Law are separate and distinct from one another, each with a separate compensation arrangement for all services rendered. Morton Wealth may provide financial planning and/or investment advisory services to clients who may also become clients of Via Law, or vice versa. Although Via Law sources are deemed to be reliable, Morton makes no representation as to the adequacy, accuracy or completeness of such information and it has accepted the information without further verification. Financial planning and/or investment advisory services provided by Morton Wealth, or its representatives are not considered legal services and are not subject to the protections normally afforded as part of an attorney-client relationship. Although Morton Wealth may recommend that you use the services of Via Law, you are not obligated or required to use their services
he is assuming we know what he knows!
TIMESTAMPS 0:00 Intro 2:08 When you think of money, what words come to mind? 3:50 Shame/guilt spiral 6:24 Decision paralysis 7:08 Comparison 9:15 Reasons behind money beliefs 13:48 Money Status 16:01 Money Focus 17:39 Money Avoidance 18:58 Money Vigilance 21:16 Patrice and Jenn's money mindsets
😢,❤, " + The POWER AND GLORY, PRISE, WISDOM, THANKSGIVING, BLESSINGS, KINGDOM, IT WAS BEGINNING AND NOW,AND FOREVER LASTING.! AMEN.!HALLELUJAH.!" WHAT A BOUT "OVER 15 YEARS OVER BANDONING HOUSE.?" THAT LOCAL GOV, THEY CAN CHARGE "SALE TAX" CHARGE FROM A "BUYER.?" I'M LIVING IN BALTIMORE COUNTY,MD.!" PREVIOUS HOME OWNER MISSING, OR NEAR RELATIVES, no body, that is the reason this house been bandoning almost 20 year, I do like a buying this house, but "local GOV, WANT MONEY FROM BUYER LSAT 20 YEARS OF SALES TAX from buyer.! Amen. Then isn't there any "NEGOTIATIONS,?" This baltimore City, house like that they SALES at "$1.00-," just "One dollars.!" But not in this baltimore County.! Lot of bandoning house in this county, but this county won't will not "negotiating," at all.! All do they want to a "momey.!" Amen 🙏. I think there's nothing but a greed, or am I donot know the "estate LAW.!" I'm very-very confused.! I did talk to few real estate agent my self, but they dont have a right answer at all.! AMEN I do need a solve this matters soon as possible 🙏.! AMEN-AMEN.
I absolutely LOVED this episode. My wonderful Dad was diagnosed with MSA in 2016 and passed away in 2022. ALS is the closest condition within this family of diseases, so this episode really hit home for me. It was heartbreaking, and I became part of his primary care team, alongside full-time live-in carers. For the last two years, I stepped in whenever they were unwell-which, during the CoVid years, was often. At the same time, I was juggling a demanding work schedule and a young family of three kids. My husband was an incredible support throughout it all. Thank you, Patrice and Jeff, for such an honest and heartfelt conversation. We need to keep these discussions going, sharing stories and practical advice. I’ve been considering launching a podcast series on this topic for a while, and this episode has truly inspired me to take that step.
I love how you guys reach outandvshare your company to make people's life easier 😢😊😂❤
Thank you for your comment, Shannon! It is such an important conversation to be having and we're happy to be able to share it with all of you.
Thank you so much for having this conversation and sharing! We are 6 years into our parenthood journey, 4 of which we have been waiting to adopt. Think we need to bring this up more.
Thank you for your comment, Kelli - we totally agree. So many couples are navigating alternative options to natural conception and there are so many nuances to consider, both financially and emotionally, and it'd be a lot easier to get through with community/open conversation. We wish you the best on your adoption journey!
So good and reassuring!
I love this MOTHERS FUCKERS
😢😅😊😮😢🎉😂❤
❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤o
What if you buy property and put a modular home on it is that a good move?
Of course, every situation needs to be viewed in isolation, but in general, anytime you can increase the income of your property it is a really good thing. A few things to consider: -How long will it take for the income to payoff the cost of the ADU? -Increased liability. -Are you living on the property and now have pseudo property mates? This can also be a great option for first time homebuyers to reduce the monthly cost of a new property.
Can you treat this as contractual deferred compensation that is eventually realized/transferred down the road to avoid taxes on it today?
RSUs are generally taxed at the time of vesting, and it is not possible to defer this tax liability as with some other forms of deferred compensation. The fair market value of the shares at the time of vesting is treated as ordinary income, and taxes must be paid accordingly. Employees can use strategies like sell-to-cover to manage the tax burden, but deferring the tax to a later date is not typically an option for RSUs.
Good vieo
Full episode 'Managing the Cost of Having Children:' th-cam.com/video/-73fBt5DYbE/w-d-xo.html
Full episode 'Gen X: Complexities of the Sandwich Generation' th-cam.com/video/8eW4qIU1ENA/w-d-xo.html
Full episode 'Keeping Up with the Joneses':th-cam.com/video/5PA9Sp4K628/w-d-xo.html
Full episode 'Keeping Up with the Joneses': th-cam.com/video/5PA9Sp4K628/w-d-xo.html
0:00 Intro 1:02 How social media has increased the pressure to "keep up" 2:00 Beau's experience with feeling "behind" in becoming a homeowner 3:20 Pros of having more successful/affluent friends 4:35 When is it a bad idea to try to keep up? 7:57 Pressures for parents and families to keep up with other households 10:18 The best way to turn an activity down because you can't afford it 12:39 Reflecting on your intentions before making decisions 13:22 This or That
Great tips!
Let me get this straight I gotta pay this freeloader money to live in my house, eat my food, and use up my utilities?
Full video: th-cam.com/video/jhFlZSlDMYk/w-d-xo.html
Full video "Parenting Tips for Financially Savvy Kids" th-cam.com/video/jhFlZSlDMYk/w-d-xo.html
Full episode 'The Problem with Most Financial Advisors' here: th-cam.com/video/E6tnMK6Jx10/w-d-xo.html
Full episode 'The Problem with Most Financial Advisors' is up here! th-cam.com/video/E6tnMK6Jx10/w-d-xo.html
Averages include the many multi-million dollar mansions in California. Statistics can be misleading.
Loved this episode!!! Amazing charities doing impactful boots on ground service to support and positively grow those in need - love it! Thank you Jessi and Stacy for the work you do, it is inspiring and your passion for what you do is contagious. I look forward to following along with your organizations. Thanks, as always Kevin and Morton for leading with a true heart in all you do and for the tips on how to make giving a win-win for everyone.
Thank you Pia, we appreciate you and the impact your creativity has had on our Couchside series so much!
Im open to change
😊