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Episode 66 – How To Secure Your Financial Future as a Young Person – With Justin McCurdy



Financial planning is important, no matter what stage of life you are in.

So as a youth who has just begun accumulating wealth, what are some key financial decisions you need to think about?

In this episode, Tim Scannell and Justin McCurdy, associate wealth advisor at Hightower Great Lakes, answer this question. Going through the investment management and advanced planning process, Tim and Justin address the challenges that the next generation might face in managing their finances, and how to deal with them.

You will learn:

  • Risk management strategies to suit your unique investment goals
  • The importance of early estate planning to make things easier for your beneficiaries
  • Ways to keep all your financial documents secure and organized
  • Questions you can ask advisors to see if they are the right fit for you
  • And more!

Tune in now to learn wealth management strategies to secure your financial future as a youth!

Resources: Hightower Great Lakes: (219) 246-5370 | Tim Scannell on LinkedIn | Tscannell@hightoweradvisors.com | Justin McCurdy on LinkedIn | Jmccurdy@Hightoweradvisors.com | Contact Justin: (219) 476-3035 | The Wealth Stream, ep. 63 – The Next-Gen Team at Hightower Great Lakes – With Justin McCurdy | Riskalyze


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Episode 65 – Explore, Learn, and Interact From the Comfort of Your Home



At a year under lockdown, new and innovative virtual platforms have now made several opportunities accessible from the comfort of your home.

We believe that this virtual trend is here to stay.

In this episode, Tim Scannell takes a break from the financial planning side of things. Instead, he shares exciting virtual opportunities that he has either experienced firsthand or learned from his clients. Whether it’s traveling, learning, exploring nature, or attending various eating and drinking events – the virtual world has a variety of amazing things to offer.

You will learn:

  • How modern VR technology provides an unbelievably realistic travel tours
  • Interesting online events that you can attend to enrich your eating & drinking experience
  • Why virtual kid-friendly programs are a great way to instill curiosity and a passion for learning in your children
  • How globally renowned universities are extending useful e-learning resources
  • And more!

Tune in to learn how you can pursue your passion or hobbies through the new virtual world!

Resources: Hightower Great Lakes: (219) 246-5370 | Tim Scannell on LinkedIn | Tscannell@hightoweradvisors.com | Road Scholar | Explore.org | Mei Mei Boston | Shedd Aquarium | Explore Fairbanks Alaska | Masterclass | Section4 | Class Central


Episode 64 – Can You Afford a Pet? – With Samantha Pietruszynski



Have you heard of the “pandemic puppy?” The pet adoption rates saw a sharp spike during COVID-19. After all, a furry friend would make the lockdown less lonely, right?

But – owning a pet comes with several financial responsibilities!

In this episode, Samantha Pietruszynski, an associate wealth advisor at Hightower Great Lakes, helps you navigate through life as a pet owner. Samantha shares her own experience in raising two pets, a cat and a dog, and discusses some of the major costs involved, both upfront and ongoing. She also provides several tips to help you budget for these costs so that you can make sure your pet gets everything it needs!

You will learn:

  • Why Samantha is a big fan of adoption vs. buying from a breeder
  • The importance of obedience training to avoid long-term behavioral issues
  • How subscription services significantly cut down your ongoing costs like food and toys
  • Ways to ensure that your pet gets a healthy amount of social interaction
  • Reasons to get pet insurance as early as possible
  • And more!

Tune in to better understand the financial implications of owning a pet!

Resources: Hightower Great Lakes: (219) 246-5370 | Tim Scannell on LinkedIn | Tscannell@hightoweradvisors.com | Samantha Pietruszynski on LinkedIn | Contact Samantha: (219) 246-5709 | Email: Spietruszynski@hightoweradvisors.com | Chewy | BarkBox | PupBox


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Episode 63 – The Next-Gen Team at Hightower Great Lakes – With Justin McCurdy



We want to be able to serve our clients not just now, but for countless generations that follow.

That’s why we focus on preparing a technology-embracing, communication-focused, next-gen team at Hightower Great Lakes.

In this episode, Tim Scannell is joined by Justin McCurdy, associate wealth advisor at Hightower Great Lakes. Justin is a critical part of the next-gen team, and today, he discusses his current role at the company, his continuing education as a financial advisor and his long-term vision and goals.

You will learn:

  • How Justin’s active involvement during high school and college helped him build business and leadership skills
  • Ways in which Hightower Great Lakes leverages technology to provide remote services in a secure manner
  • Why you should always invest in continuing education
  • The importance of understanding the emotional aspect of financial planning
  • Justin’s advice to those who’re getting out of school and starting a new career
  • And more!

Play now and get to know Justin, an integral part of the next-gen team, on a personal and professional level!

Resources: Hightower Great Lakes: (219) 246-5370 | Tim Scannell on LinkedIn | Tscannell@hightoweradvisors.com | Justin McCurdy on LinkedIn | Jmccurdy@Hightoweradvisors.com | Contact Justin: (219) 476-3035 | American Cancer Society | DocuSign | Dalton Education


Episode 62 – How To Minimize the Tax Impact of Your Business Sale



When you’re planning to sell your business, it’s extremely important to factor in the impact of taxes – both on the federal and the state level. 

In this episode, Tim Scannell is joined by returning guest John Wiktor, head of the Trusts and Estates Group at HMB Legal Counsel. John dives into the tax-planning side of every business sale, and talks about how you can minimize your state taxes by either changing your residency or through trust planning.

You will learn:

  • How the new tax proposal under the Biden administration, if passed, affects your capital gains taxes.
  • The importance of reviewing your business structure before planning the sale
  • Why you should start planning at least a year prior to your exit
  • Things you need to consider before changing your residency to a new state
  • How to use various trust funds to optimize your business sale without having to move
  • And more!

Tune in now to learn how you can make your business sale highly tax-efficient by planning well ahead of time!

Resources: Hightower Great Lakes: (219) 246-5370 | Tim Scannell | Tscannell@hightoweradvisors.com | John Wiktor | HMB Legal Counsel | Episode 32 – Answering the Top Questions About Advanced Planning for Your Estate — With John Wiktor


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Episode 61 – How To Manage the Flood of Emotions That Follows Retirement



Are you emotionally prepared to leave your work? Have you thought about the next great adventure you wish to pursue?

In this episode, Tim Scannell is joined by a very special guest, his wife, Nancy Scannell, who recently retired from teaching. Nancy discusses the emotional impact of retirement, how she managed to cope with it, and how you can discover your inner passion to help you decide the next step in your life.

You will learn:

  • How Nancy overcame the challenges in leaving a job that she really loved       
  • Ways to remain strongly connected with people post-retirement
  • Why your work does not completely define who you are – and how to create parallel path that you enjoy
  • The value that lies in having a great leadership coach
  • How to find your personal vocation through the miracle of conversation
  • And more!

Tune in now to learn how you can prepare yourself to bid farewell to your work and embark on the next great adventure in your life!

Resources: Hightower Great Lakes: (219) 246-5370 | Tim Scannell | Tscannell@hightoweradvisors.com | Nancy Scannell | TEDx Talk: The Power of the Pause by Nancy Scannell | Valparaiso University | Ivy Tech Community College | Purdue University Northwest | MasterClass | Coaches Rising | Essentialism: The Disciplined Pursuit of Less by Greg McKeown


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Episode 60 – Want To Retire Early? Think About These Things First!



Some people retire early, some at the traditional age of 65, and some keep following their passion even after retirement. But in every scenario, it’s important to plan for it – both financially and emotionally!

In this episode, Tim Scannell answers the most frequently asked questions about retirement. He discusses several strategies that help you create a solid parallel path for a time when you’re finally ready to finish work and live your dream retirement.

In this episode, you will learn:

  • How to analyze your expected income & expenses, identify cash flow gaps, and effectively address those gaps
  • Why medical insurance is a crucial part of preparing for retirement
  • The importance of tax planning to better preserve your retirement income
  • Multiple examples of how we have helped our clients achieve their retirement goals
  • And more!

Tune in now to learn how you can re-evaluate your retirement goals, and lay out a robust plan to accomplish them!

Resources: Hightower Great Lakes: (219) 246-5370 | Tim Scannell | Tscannell@hightoweradvisors.com | Episode 8 – What is a Lifelong Learning Plan? | Episode 11 – The Softer Side of Planning: Downsizing and Retirement


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Episode 59 – 10 Must-Ask Questions to Optimize Your Business Exit



During COVID, a lot of people needed to take a step back and re-evaluate their business plans. But what is it exactly that you should focus on while planning the future of your business?

In this episode, Tim Scannell goes through a list of the 10 most important questions that every business owner should consider while planning their business exit, whether it’s in the near future or several years down the line. He also discusses how you can determine your post-retirement needs, and ways to align your exit strategy with those needs.

You will learn:

  • Why you should think about all potential obstacles both at the beginning and towards the end of the planning process
  • Tips for maximizing the value of your business sale
  • The importance of retaining key employees using incentive plans
  • How to ensure a smooth transfer of ownership to your successor – internal or external
  • And more!

Tune in now to learn how you can optimize your business exit and earn maximum value to fulfil the needs of you and your family!

Resources: Hightower Great Lakes: (219) 246-5370 | Tim Scannell | Tscannell@hightoweradvisors.com | Using Short-Term Key-Employee Incentives to Increase Sale Price | BizEquity


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Episode 58 – The Power of Setting Audacious Goals



Do you know what all successful people have in common? They set audacious goals and strongly commit to it.

In this episode, Tim Scannell explores the power of aiming towards the highest goal possible and talks about how audacious goals instill an incredible sense of perseverance and focus in you. He also shares several tips on developing a set of activities and intermediate goals that guide you along your journey!

You will learn:

  • How to overcome the common mindset that stops most people from setting audacious goals
  • How to avoid potential distractions and maintain unwavering determination
  • Why you should continuously re-evaluate your goals and improvise your plan
  • Our own audacious goals at Hightower Great Lakes for 2021
  • And more!

Tune in now to learn how you can discover what motivates you the most, and let it be your guiding light!

Resources: Hightower Great Lakes: (219) 246-5370 | Tim Scannell | Tscannell@hightoweradvisors.com | Tim Scannell’s Personal “Why” Story | Episode 41- An Entrepreneurial World — Part 1 with Guest Stewart McMillan | Episode 42 – An Entrepreneurial World — Part 2 with Guest Stewart McMillan | Boys Town


Episode 57 – Manage Your Cash Flow Effectively In Seven Simple Ways



Wealth transfer, wealth protection, and wealth enhancement – all of these aspects have one important component in common –– cash flow!

In this episode, Tim Scannell discusses why managing cash flow is critical for your business in the long-term, especially for your exit strategy. Join him as he dives into seven key ways in which it can affect the value of your business.

You will learn:

  • How you can ensure a smooth transfer of ownership – internal or external
  • The importance of having various employee incentives in place
  • Ways in which stress testing can help you better evaluate your cash flow to minimize your risks
  • How your cash flow can vary significantly before and after your exit
  • And more!

Listen now to learn how you can effectively manage cash flow to get a better value for your business going forward!

Resources:

 Hightower Great Lakes: (219) 246-5370 |  Tim Scannell | Tscannell@hightoweradvisors.com | Episode 49 – Why a Valuation Analyst Is Critical for Planning – With Guest Greg Clark | Using Short-Term Key-Employee Incentives to Increase Sale Price