Want to Build Wealth? Then You Need to Create THESE

Whether you're worried about losing your job, concerned about your investments, or just feeling uncertain about the economy, this episode gives you a clear action plan to turn anxiety into productive financial decisions. "How do I navigate the current economic uncertainty?" This was the most-requested topic at a recent conference we attended. If you're wondering the same, you're clearly not alone. Instead of worrying, get a strategy in place so you know you can ride out any uncertain times that may lie ahead. We're explaining what recessions actually are (versus what people often assume they are), why they're a normal part of economic cycles, and most importantly, how to protect your finances without making emotional decisions you'll regret. You'll learn why the stock market and recessions don't move in sync the way you'd expect, the critical difference between managing your long-term investments versus short-term cash flow, and practical steps to recession-proof your finances: from building the right emergency fund to knowing when (and when not) to adjust your spending. We talk through:  What defines a recession (and why it takes 6+ months to officially call one) Why you shouldn't change your long-term investment strategy during market downturns The truth about "buying the dip" and dollar-cost averaging How much emergency savings you really need during uncertain times Why it's helpful to create a bare-bones budget for worst-case scenarios When to pause big financial decisions versus when to move forward Visit beyondyourhammock.com/schedule to request a free one-page financial plan and explore working with us. KEY TAKEAWAYS 1. Recessions are normal part of market cycles (not signs of the end times). We can't predict their exact timing or triggers, but we do know to expect recessions to happen periodically. 2. Market corrections are not the same as recessions. The stock market often declines before a recession is announced and recovers before it officially ends. Making investment changes based on recession fears typically backfires. 3. Separate long-term planning from short-term cash flow. Your retirement accounts and your monthly budget require different strategies during uncertain times. 4. If you have a plan, stick to it. If your investment strategy was designed to weather market cycles, don't abandon it when emotions run high. If you don't have a plan, get one before making reactive decisions. 5. Keep contributing to retirement accounts. Dollar-cost averaging during downturns means you're buying more shares at lower prices, which benefits you when markets recover. 6. If you're worried about economic uncertainty, build (or boost) your emergency fund. Having 3-6 months of expenses in cash provides peace of mind. The best action you can take if you're worried about your finances is to proactively increase your cash cushion. 7. And be strategic about big financial decisions. Another proactive step to take is to think long and hard about any pending financial decision (particularly one that will lock in something you can't easily reverse, put a big fixed cost in your cash flow, or both). You don't have to pause your entire life, but be mindful about major expenditures or income changes during uncertain periods. 8. Time in the market beats timing the market. Staying invested through ups and downs has historically outperformed trying to predict the perfect moments to buy and sell. Having objective guidance can help you stick to a sound strategy, too. Working with a financial advisor helps you see blind spots and make decisions based on your specific situation, not fear or media hype. Ready to create, use, and enjoy money for life? Request a complimentary consultation with us at BYH and discover how to optimize your investments, reduce your tax burden, and grow your wealth: https://beyondyourhammock.com/schedule  

Are you constantly running on empty, juggling work, family, and endless household tasks? Then you may need to take advantage of an often-underutilized strategy for high-earning professionals: use your money to buy back your time. No, you should NOT do everything yourself, and we don't believe outsourcing is some kind of sign of moral failing or judgment on your inability to successfully manage things on your own. The truth is, using your money to buy back time is a strategic investment in what matters most. Discover how to create a "shed column" to identify which tasks are draining your time and energy, calculate the ROI of outsourcing using your hourly rate, and overcome the guilt many feel about asking for help. Throughout this episode, we share personal examples of how we've done this in our own life, including the biggest investment in ourselves and our time that we've made to date: hiring a house manager. We also explain the surprising benefits that you may not think of when trying to calculate ROI, like less stress in our relationship and modeling healthy boundaries for our daughter. Whether you're drowning in meal planning, house cleaning, or endless errands, this episode provides a practical framework for evaluating what to outsource first and how to make it work within your budget. Learn why investing in time (not just accumulating wealth on paper) might be the most valuable financial decision you can make, especially during your peak earning years when time with young children is most precious. KEY TAKEAWAYS 1. Start with your values, not your budget: Before deciding what to outsource, identify what matters most to you emotionally and practically. We didn't hire a nanny because spending time with our daughter was a top priority, but we DID outsource household tasks like cleaning, meal prep, and errands to create more family time. 2. Use the "shed column" strategy to prioritize: Create a list of everything you currently do, then move tasks you hate or shouldn't be doing into a "shed column." Prioritize outsourcing based on two factors: what's cheapest to delegate and what you despise doing most. This list can even become a job posting for a house manager or part-time assistant. 3. Think of outsourcing as leverage, not just spending: If your hourly rate is $300 and you pay someone $100 to handle household tasks, you're gaining an hour of higher-value time back. Even if you're not using that time to work more, you're investing in experiences and relationships, which has immeasurable value. 4. Don't assume there's no one to help you with your "shed" tasks. There are many people who enjoy this work and have the availability for part-time hours. 5. The mental load relief is as valuable as the time itself: Beyond the hours saved, outsourcing eliminates the cognitive burden of managing endless details—like creating grocery lists, tracking household supplies, or coordinating schedules. This mental space allows you to be more present with family and more effective at work. 6. Outsourcing reduces household tension and models healthy boundaries: When you're not constantly overwhelmed, you're less snippy with your partner and can enjoy quality time together. Your children also learn that it's okay to ask for help and create life balance, rather than viewing the "rat race" as inevitable. 7. The opportunity cost is real during peak earning years: The years when you need to be most present at work (peak earning years) often coincide with when your kids are young and need you most. Using money to outsource everything else during this critical window lets you focus on what truly can't be delegated—building your career and your relationship with your children. Ready to create, use, and enjoy money for life? Request a complimentary consultation with us at BYH and discover how to optimize your investments, reduce your tax burden, and grow your wealth: https://beyondyourhammock.com/schedule  

Everyone says "invest for the long term" and "stay the course"—but what does that actually mean? When the market drops 12% within a few weeks, is your 10-year timeline really "long-term enough"?  In this episode, Eric and Kali cut through the vague advice and give you specific numbers: how many years you actually need, what returns to expect, and why being a long-term investor is one of the hardest things you'll do with your money. Through real market data spanning 30 years, plus examples from the tariff-induced volatility of 2025, Eric and Kali explain why staying invested through full market cycles (which will cover both highs and lows) is hard but necessary—and how to actually do it without losing your mind. Whether you're just starting to invest or wondering if you should wait for the "right time" to put cash to work, this episode gives you the framework to build a portfolio that works with and through market cycles, rather than trying to chase the impossible goal of beating them. KEY TAKEAWAYS 1. When you talk about long-term investing, you need to think in decades rather than years. Although something like 5 years can feel like a considerable amount of time, it's quite quick in the investment world. We often tell clients that money they invest should be committed to the market for at least 10 years, and ideally, much longer. The longer your time horizon, the more confident you can feel about your ability to ride out market volatility and normal market movements (which can include downturns). 2. Cash drag will cost you. You cannot leave excess cash sitting on the sidelines because it will lose purchasing power over the decades thanks to inflation. While all investing carries risk, so does failing to participate in the markets at all. 3. Your investment portfolio will not make up for a poor savings habit. You can't rely on investment returns to make up for a lack of saving. Success comes from successfully doing the little things, the average thing, over an un-average amount of time. Consistency over 30 years is the real wealth builder. 4. Don't check your portfolio obsessively. Monthly or daily checking amplifies emotional reactions; annual check-ins help maintain perspective. 5. Get a plan before chaos hits. It's nearly impossible to stay calm during the biggest market downturns without a strategy already in place… especially because those dips and volatility often. 6. Lump sum beats dollar-cost averaging 60%+ of the time. If you have cash to invest, data shows getting it in the market immediately usually outperforms waiting. 7. Staying in the market outperforms market timing and sitting in cash. The numbers paint a clear picture: investors who try to jump in and out of the market end up missing the best days. Even if they also miss some of the worst, failing to experience the peaks is more costly than dodging some of the downturn. Ready to create, use, and enjoy money for life? Request a complimentary consultation with us at BYH and discover how to optimize your investments, reduce your tax burden, and grow your wealth: https://beyondyourhammock.com/schedule  

Thinking about buying a car? "Should I buy a car now, or wait?" has been an extremely popular question among our financial planning clients this year. So today, we're discussing the reality of car prices in 2025, how we think prices are likely to evolve (or not) over the coming months, and the planning considerations to take into account if you decide to buy now.  We're also sharing our own real-world, personal experiences with buying two new cars in 2025 for fair market prices given the specific make and trim models of each, along with what we learned through the process and what we might do differently next time. We explained the exact negotiation strategies we used, including where to research fair market value, how to push for below invoice cost, the importance of focusing quotes on out-the-door pricing, and insights on avoiding sales pressure tactics at the dealership. Throughout this episode, you'll learn: Current car market trends and why prices likely won't drop Cash vs. financing: when each option makes sense How to research and prepare before visiting a dealership Practical negotiation tactics that work to ensure you're getting a reasonable deal Understanding out-the-door pricing and invoice costs Why timing matters: end-of-month vs. mid-month purchases Leasing considerations and when it might make sense Balancing car purchases with retirement savings and other goal And you'll hear Kali have a *moment* about a Mazda (maybe more than one; she's a fan). Whether you're considering a practical family vehicle or a luxury purchase, this episode will help you approach your car-buying decision with confidence and make sure it fits within the context of your other financial priorities this year.  KEY TAKEAWAYS: Don't time the market (with cars, stocks, anything!). It probably does not make sense to try and wait for prices to drop if you need to buy a car and you have the cash to do so. Car prices are unlikely to decrease in the coming years due to supply and demand alongside impacts of inflation and tariffs. Cash is (usually) king for car purchases. Paying interest on a depreciating asset isn't the best financial move. If you must finance, aim to pay off the loan in under a year. Know exactly what you want before visiting a dealership. Research the specific make, model, trim, and color you want. Use resources like YouTube reviews from car enthusiasts and experts, like Throttle House, to compare vehicles and gather information. Focus on out-the-door price, not monthly payments. Dealerships will try to focus your attention on monthly payments, which allows them to manipulate loan terms in their favor. Always negotiate based on the total out-the-door price. Invoice price isn't the floor. Dealerships can and will sell below invoice price because manufacturers often provide holdbacks and other incentives that aren't disclosed upfront to buyers. Two effective negotiation approaches: (1) Email multiple dealerships for quotes before visiting, or (2) Visit in person armed with fair market value research and be willing to walk away. End-of-month or end-of-quarter timing gives you more leverage. Be prepared for upsells after the purchase. Dealerships make a lot of their profit on warranties, maintenance packages, and add-ons… not necessarily the car itself. Default to saying no unless you have specific reasons to accept. Balance car purchases with long-term goals. Even if you have cash available, consider whether buying a car will impact your retirement savings rate (ideally 20-25% of income) or other important financial goals. Ready to create, use, and enjoy money for life? Request a complimentary consultation with us at BYH and discover how to optimize your investments, reduce your tax burden, and grow your wealth: https://beyondyourhammock.com/schedule

6 Guideposts to Increase Your Net Worth Think investment returns are the key to building wealth? Think again! In this episode, Eric and Kali share six powerful guideposts that, if followed, can generate the power you need to increase your net worth. No stock picking or secret investment strategies only the rich know required. Discover why your savings rate matters more than your investment returns, why time in the market beats timing the market, and how to build financial flexibility into your plan so you can adapt to whatever life throws your way. You'll also hear about practical strategies for managing variable income, avoiding lifestyle creep, and making sure your spending aligns with what truly matters to you. If you're ready to focus on what you can control and build wealth the reliable way, this episode is packed with actionable advice you can implement immediately. Key Takeaways 1. Your savings rate matters more than your investment returns Focus on what you can control. Saving 25% of your income with modest 6% returns will outpace saving 10% even with exceptional (and totally unrealistic!) 14-15% returns. The math is clear: consistent savings beats hoping for outsized returns. 2. Time in the market beats timing the market  Stop trying to predict market peaks and valleys. Long-term participation in the market leads to successful outcomes far more reliably than attempting to jump in and out at the "right" moments. What looks obvious in hindsight is nearly impossible to predict in real time. 3. Plan for the unexpected to happen Build buffer room into every aspect of your financial plan. Keep extra emergency reserves, use conservative assumptions for income growth and savings rates, and save aggressively when you can so you have flexibility later when life inevitably changes. 4. Don't count on variable income for fixed expenses If you receive bonuses, commissions, or equity compensation, base your fixed expenses (mortgage, car payments, etc.) on your guaranteed income only. Use variable income as "icing on the cake" for savings and discretionary spending. 5. You determine what actually matters Avoid keeping up with the Joneses or following someone else's definition of success. Test different spending categories to discover what truly brings you joy and aligns with your core values—whether that's family, wellness, learning, or something else entirely. 6. The best plan adapts to change  Financial planning isn't about accurately predicting the future—it's about creating flexibility to adapt to whatever unfolds. Build modular plans that can evolve as your values, goals, and circumstances change over time.   Chapters: (00:00) Guideposts can help grow net worth (01:18) Your savings rate matters more than your investment returns (09:40) Time in the market beats timing the market  (14:17) Plan for the unexpected to happen (25:24) Don't count on variable income for fixed expenses (32:57) You determine what actually matters (39:07) The best plan adapts to change    Ready to create, use, and enjoy money for life? Request a complimentary consultation with us at BYH and discover how to optimize your investments, reduce your tax burden, and grow your wealth: https://beyondyourhammock.com/schedule  

Is all risk bad? How can you tell how much risk you should take, or know when you're not taking ENOUGH risk to earn the return you need? What's more important, risk tolerance or risk capacity? With 2025's market volatility creating concern and worry for investors, we're exploring why no investment worth making is without risk… and why trying to avoid all risk presents a danger to your ability to grow wealth. Discover the critical difference between risk tolerance (how comfortable you feel) and risk capacity (what you can actually afford to lose), and why this distinction changes everything about how you should invest.  We also share real stories from our wealth management clients  about concentration risk with company stock, the hidden dangers of keeping too much money in cash, and why the "safest" choice often isn't safe at all. In this episode, you'll hear: Why avoiding one type of investment risk (market risk) creates another, potentially more dangerous one to content with The difference between risk tolerance and risk capacity and why you have to evaluate both as part of a good investment management strategy How to handle concentration risk if you receive equity compensation Ways to reduce volatility and overall investment risk (without skipping out on the investment experience!) The concept of "lifestyle risk" and unforced errors How to calculate risk based on your specific goals and timeline Whether you're dealing with volatile markets, managing equity compensation, or simply trying to understand what level of risk makes sense for your situation, this episode provides a framework for making intentional decisions about where to place your risks—because the goal isn't to eliminate risk, but to manage it strategically. KEY TAKEAWAYS #1: No Such Thing as a Free Lunch If You're Trying to Grow Wealth Risk and reward have a relationship. You cannot have one without the other. Avoiding market risk doesn't eliminate risk, it just creates another; cash will most likely lose purchasing power over time. The "safe" choice of avoiding the market can jeopardize big, long-term financial goals #2: Risk Tolerance and Risk Capacity Are Critical… and Two Different Things Risk tolerance = How comfortable you feel emotionally with market ups and downs Risk capacity = What you can actually afford to lose based on your timeline and goals Your risk capacity often matters more than your risk tolerance for making sound financial decisions You may need to take more risk than feels comfortable, or you may not be able to afford the risks you feel emotionally okay accepting #3: Time Horizon is a Great All-Purpose Risk Management Tool There has never been a 15-year rolling period when the U.S. stock market was down The longer your investment timeline, the less risk you have of losing money Short-term volatility often becomes irrelevant when you're investing for 10+ years Warren Buffett made 99% of his wealth after age 60; wealth-building power is found in the long tail of compounding returns #4: Manage Concentration Risk Strategically Don't keep all your wealth tied up in your employer's stock, even if you believe in the company Your paycheck already depends on your company's success; being overweight in company stock commits even more of your personal finances and net worth potential to a single company who also happens to employ you Consider a rules-base, repeatable, simple strategy for managing your equity comp to steadily build wealth without opening yourself up to more volatility than necessary You're not "missing out" if you sell and reinvest! You're locking in gains along the way #5: Your Biggest Risk as You Build Wealth May Come from Unforced Errors A risk you didn't have to take can be the undoing of years, even decades, of hard work in saving and investing Calculate the impact of realizing a risk and ask, can you truly afford to see that downside potential? Can you actually recover from the potential loss, and how far back would it set you? #6: Your Risk Strategy May Need to Evolve with Your Life Risk tolerance and capacity change as your life circumstances change (marriage, kids, aging parents); what made sense when you were single may not work when you have dependents Regularly reassess your risk strategy as your goals and priorities shift, and know it's okay to become more conservative as you have more to protect #7: Know What "Enough" Looks Like For goals you MUST realize, prioritize probability of success over maximum returns Reverse engineer your investment strategy from your actual needs, not from the vast realm of what's possible but not probable Know what "enough" looks like so you can make informed trade-offs Ready to create, use, and enjoy money for life? Request a complimentary consultation with us at BYH and discover how to optimize your investments, reduce your tax burden, and grow your wealth: https://beyondyourhammock.com/schedule   

Looking for Beyond Finances? You're in the right place! Beyond Finances is now Money For Life, hosted by Eric Roberge, CFP and Kali Roberge. We're back and focused on sharing our philosophy, action plans, and professional expertise on the financial planning strategies that help us, our clients, and now you, to create wealth that lasts a lifetime. In this episode we discuss why (and how) we focus on building financial planning strategies designed to create money for life, and share why it's so important to approach money management in a way that allows you to enjoy life in the present – while still planning responsibly for the future.  We dig into: How to align financial decisions with personal values Why optimizing for financial flexibility is such a game-changer Where most people fail with their plans (spoiler alert: it's lack of risk management) Tune in for actionable strategies for saving and making informed financial decisions so you can start your journey to a more fulfilling financial life. Takeaways: The best financial decisions consider both present enjoyment and future security Aligning how you use your money with what matters most – your core values – is a key component to feeling satisfied with your finances Flexibility in financial planning creates more freedom of choice, as well as a stronger ability to pivot and adapt as life changes and evolves Setting the right savings rate target is critical to creating money for life Risk management goes beyond investments to include understanding the opportunity costs of everyday decisions Wealth is more than just money; it's about living a fulfilling life. You can use your money as a tool to do just that if you have the right strategies in place. Ready to create, use, and enjoy money for life? Request a complimentary consultation with us at BYH and discover how to optimize your investments, reduce your tax burden, and grow your wealth: https://beyondyourhammock.com/schedule    

How kids change you can be delightfully surprising. But they'll change your financial plan, too, in ways that might be challenging if you don't know how to adjust.  In what is probably news to no one, things change when you have kids. You know your responsibilities will shift. Your schedule will probably get upended. The smaller your children are, the less personal freedom you may have. How you experience all this, however, is unknowable. The process itself alters who you are now, and how you perceive and react to your life with kids in ways that you could not have even imagined when you were childfree. If you yourself are changed, you can expect your financial plan will need some adjustments too! You're going to have new goals. Your regular, ongoing expenses increase. You're financially responsible for more; more can go wrong simply because there are more variables in the form of another human being in your life that you must care for and protect.  We dig into all this and more in this episode, where we share: The trickiest part of transformative experiences on our lives Our suggestion for solving the "wild problems" we all encounter  (from the decision to have kids to any other major life choice or transition) How having a child changed each of us personally Updates you might need to make to your goals or priorities after having children The impacts kids can make on your present-day cash flow as well as your long-term financial objectives What strategies might need to shift within your financial plan to accomodate a growing family Why saving what you can when you can is so critical What you need to consider if generational wealth is important to you

You asked - now we answer your specific financial questions and try to provide clarity on some money situations that lots of folks tend to find themselves in. We share our insights on: What to do with your money once you pay off debt, max out your retirement accounts, and aren't sure what to prioritize next How to think through a decision like investing in rental real estate properties What counts (and what DOESN'T) when talking about savings rates Where to put your cash if you want it to grow Which financial planning benchmarks you can use to determine if you're on track, ahead of the curve, or falling behind with your personal finances Have a question you want featured on a future episode? Email [email protected]

In the last episode of our 3-part series on strategic planning for your finances is all about protecting family wealth. If you're working hard to build assets, you need to protect that growing net worth - and part of that is making sure you and your family will be financially stable no matter what curveballs you may face along the way. Instead of just running through "insurance 101" or defining parts of an estate plan, we're pulling back the curtain and showing you what a financial planner has for his personal finances and why he has it. We'll discuss the types of insurance policies we personally have, and walk through the documents that make up our estate plan. Expect to hear: -- Why we have to have this conversation in the first place - because it's not enough to build wealth. You have to protect it (and yourself, and your family) too! -- What we looked for in a health insurance plan -- The property & casualty insurance you have to have, and a separate, additional policy you might want to consider as well -- What kind of life insurance we each have and what purpose it serves -- The importance of disability insurance for professional couples -- How we've protected ourselves, our family, and our stuff with a comprehensive estate plan, what an estate plan actually does (it's WAY more than just wills!), and why almost everyone needs some type of estate plan for themselves, regardless of how much money you have If you've made it this far, you know the importance of putting financial goals and decisions in the context of your values so you can sort through competing priorities. You know you need to build a financial plan that uses specific strategies to address your particular challenges and opportunities. And you understand that planning is key - but investing is critical, if you want to build real wealth. Once that wealth-building machine is in motion, don't leave it vulnerable. Start here to understand the steps you can take to start protecting family wealth - which includes you and your loved ones, too.