Financial Plan – The Wealth Stream Podcast

The Success Metrics Every Business Owner Should Use (Ep. 110)

By thewealthstreampodcast | June 28, 2023

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How do you measure success in your business?

There isn’t one definitive way of measuring the success of your business, however, there are strategies and benchmarks you can use to get an accurate idea of how it is performing.

In this episode, Tim Scannell discusses some of the most reliable metrics you can use as a business owner to gauge the value of your business and maximize the return you receive when you decide to exit.

Tim discusses:

How to measure growth and success using benchmarks
How to discover the percentage of business value each position in your company holds
The first few things you should do if you become an “accidental business owner”
How he educates business owners and makes them realize the worth of their business PRIOR to exiting and selling it
And more

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A Conversation About Fiduciaries With Don Stellin (Ep. 109)

By thewealthstreampodcast | June 14, 2023

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Many financial advisors express great admiration for fiduciaries, while some undermine their significance in the financial industry and argue against their necessity.

However, by the conclusion of this episode, you will attain a thorough comprehension of fiduciaries and gain the ability to appreciate the immense value they bring to your financial planning endeavors.

In this episode, Tim Scannell invites returning guest, Don Stellin, onto the podcast to discuss the role, purpose, and value fiduciaries have in the financial planning processes of both retirees and working professionals.

Don discusses:

Why you need to know whether your financial advisor is a fiduciary
What a suitable standard is and how to know if your financial advisor’s standard is a good match with your financial values
The important questions your financial advisor should be asking you–and what it could mean if they aren’t asking them
Revenue neutrality and being brand agnostic–how to find out if your financial implements these into their business strategy
And more

Resources:

The Wealth Stream Podcast: Meet Donald Stellin of Hightower Great Lakes (Ep. 71)

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Connect With Donald Stellin AIF®:

About Our Guest:

Donald Stellin is a Financial Advisor with Hightower Great Lakes. He develops financial plans, manages investment portfolios, and works collaboratively with clients to create retirement income plans. He enjoys helping individuals, families, and business owners plan for a comfortable retirement by carefully listening to their needs and goals prior to developing a customized financial plan.

How To Strategize Your Taxes For Maximum Benefit (Ep. 108)

By thewealthstreampodcast | May 24, 2023

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When someone mentions “taxes” or “tax season”, it may cause you to tense up and feel a wave of stress.

This usually happens when people aren’t confident in their tax strategies and worry they may be losing more money than they have to.

In this episode, Tim Scannell delves into the world of tax strategies and explores some practical tips and tricks for individuals and businesses to maximize their tax savings.

Tim discusses:

The difference between tax deferral and permanent tax savings
The pros and cons of tax deferral and how to know if it’s the right choice for you
Tax strategies for business owners and how to maximize the amount of hard-earned money you keep and reinvest in your business
Some recent tax policy changes and how to find out if they affect you or your business
And more

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The Wealth Stream Podcast: Finding Your Lifelong Accountability Partner (Ep. 107)

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Finding Your Lifelong Accountability Partner (Ep. 107)

By thewealthstreampodcast | May 10, 2023

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Lifelong relationships aren’t just created outside the workplace.

These types of relationships are created with colleagues and clients all the time!

In this episode, Tim Scannell discusses how he curates his professional relationships as well as how he helps others find and maintain meaningful relationships, including accountability partners, both in and out of the financial world.

Tim discusses:

The relationship he has had with a client since 1990 and how he maintains it
Financial accountability partners and how he helps people find theirs
How he helps families curate realistic college education plans
Tips on how to achieve those specific retirement goals you may have (like retiring on the beach!)
And more

Resources:

The Wealth Stream Podcast: Creating A Successful Exit Plan As A CEO With Scott Bening Ep. 106

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Tackling Your Family’s Year-End Financial Plan Part 2 (Ep. 103)

By thewealthstreampodcast | March 8, 2023

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Are you looking for ways to ensure financial stability for yourself and your family in the upcoming year?

Now that we have discussed how to create a year-end financial plan for your business, it’s time to discuss how to make a plan for you as an individual!

In this episode, Tim Scannell highlights practical strategies for setting you and your family up for success as you enter into the new year. He covers the latest developments in the financial industry and their potential effects on decision-making, offers insight into current trends, and shares news updates to help you stay informed and make strategic financial decisions.

Tim discusses:

What to financially consider before switching your job position
How to get a better grasp on if you are in a good financial position for your age
What you should be looking for in an employer as a new graduate
Why the IRS makes most charitable contributions not deductible
And more

Resources:

Wealth Stream Podcast: Tackling Your Year-End Financial Plan Part 1 – Ep. 102

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Tackling Your Year-End Financial Plan Part 1 (Ep. 102)

By thewealthstreampodcast | February 17, 2023

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2022 has come to a close, meaning Hightower Great Lakes has received many calls about end-of-the-year financial planning.

So what is a year-end plan and how can you create one for your business?

In this episode, Tim Scannell discusses some financial tips you should use at the end of each year and how they can help you make more informed decisions for your retirement.

Tim discusses:

Some of the key features of the SECURE Act
Law changes that can impact business owners
Why 401K auto-enrollment was eliminated for many employees
What some employers are doing to help their employees help pay off their student loan debt
And more

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How To Protect Your Wealth Through Inflation with Stephanie Link (Ep. 99)

By thewealthstreampodcast | January 4, 2023

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Inflation is a topic that you can’t seem to escape nowadays.

Everyone has an opinion on the topic, whether it’s the news, your relatives, or someone else.

In this episode, Stephanie Link, Chief Investment Strategist and Portfolio Manager at Hightower, joins us to help break down inflation and interest rates. We advise you to turn off your TV and listen to a trusted financial advisor about how you can combat inflation’s effects on your bank account.

Stephanie discusses:

Her journey of becoming the Chief Investment Strategist and Portfolio Manager at Hightower
How the independent wealth management industry continues to grow
A deeper look into why inflation and interest rates are so high right now
Why you should limit your time watching the news and instead focus on listening to industry professionals
And more!

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Connect With Stephanie Link:

LinkedIn: Stephanie Link

About Our Guest:

With over 27 years of experience managing money, Stephanie Link joined Hightower in June 2020 as Chief Investment Strategist and Portfolio Manager.

Before joining Hightower, Stephanie was the Senior Managing Director and Head of Global Equities Research at Nuveen. She also served as Chief Investment Officer at TheStreet, Co-Portfolio Manager of Jim Cramer’s Charitable Trust, and Managing Director of Institutional Sales and Director of Research at Prudential Equity Group.