When money isn't an issue, should your teenager still work a summer job? In this episode of Purposeful Planning, we explore why summer employment remains valuable for teens from wealthy families. From building work ethic and financial literacy to funding retirement accounts early, discover how summer jobs provide benefits that money can't buy—even when you have plenty of it.

Sources:

1. https://www.aspenwealthmgmt.com/resource-center/lifestyle/does-our-kid-need-a-summer-job
2. https://www.aspenwealthmgmt.com/resource-center/blog/protect-children-inheritance-trust

The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.

This information has been derived from sources believed to be accurate and is intended merely for educational purposes, not as advice.

Aspen Wealth Management is a registered investment advisor with the SEC.

This recorded posting utilizes AI generated voiceovers. While the Firm strictly prohibits the use of AI for advisory activities constituting investment advice, financial plans, portfolio analysis and management, and reporting, the use of AI for other purposes, such as voiceovers, is permitted and utilized for the firm’s recordings.

Hosted on Acast. See acast.com/privacy for more information.

The difference between the Vanderbilt and Rockefeller legacies isn't just about money—it's about preparation. In this episode of Purposeful Planning, we explore how wealthy families can prepare the next generation to become responsible stewards of financial and philanthropic legacies. With $124 trillion expected to transfer between generations in the coming decades, the importance of communication, education, and values-based planning has never been greater.

Sources:

1. https://www.aspenwealthmgmt.com/resource-center/blog/different-stages-of-the-financial-journey
2. https://www.cerulli.com/press-releases/cerulli-anticipates-124-trillion-in-wealth-will-transfer-through-2048#:~:text=However%2C%20Gen%20X%20stands%20to,those%20recipients%2C
3. https://www.aspenwealthmgmt.com/resource-center/estate/test-your-estate-strategy-knowledge
4. https://www.aspenwealthmgmt.com/resource-center/financial-planning/next-generation-financial-leadership

The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.

This information has been derived from sources believed to be accurate and is intended merely for educational purposes, not as advice.

This recorded posting utilizes AI generated voiceovers. While the Firm strictly prohibits the use of AI for advisory activities constituting investment advice, financial plans, portfolio analysis and management, and reporting, the use of AI for other purposes, such as voiceovers, is permitted and utilized for the firm’s recordings.

Hosted on Acast. See acast.com/privacy for more information.

Our online presence extends far beyond social media in today's digital world. From email accounts and banking apps to photos, music, and even cryptocurrency, we all leave behind a digital footprint. This episode of Purposeful Planning explores the importance of including digital assets in your estate plan, the laws governing digital inheritance, and practical steps to help maintain your online legacy is properly managed according to your wishes.

Sources:

1. https://www.experian.com/blogs/ask-experian/what-is-digital-estate-plan/
2. https://www.uniformlaws.org/committees/community-home?CommunityKey=f7237fc4-74c2-4728-81c6-b39a91ecdf22
3. https://www.aspenwealthmgmt.com/contact-us-fee-only-advisors-fort-worth

The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.

This information has been derived from sources believed to be accurate and is intended merely for educational purposes, not as advice.

This recorded posting utilizes AI generated voiceovers. While the Firm strictly prohibits the use of AI for advisory activities constituting investment advice, financial plans, portfolio analysis and management, and reporting, the use of AI for other purposes, such as voiceovers, is permitted and utilized for the firm’s recordings.

Hosted on Acast. See acast.com/privacy for more information.

Everyone has an estate plan—whether they've created one or the state has one for them by default. In this episode of Purposeful Planning, we demystify some of the more advanced estate planning tools that go beyond basic wills. From charitable remainder trusts to grantor-retained arrangements, learn how these specialized instruments can help preserve your assets, support your favorite causes, and ensure your wishes are carried out efficiently.

Sources:

1. https://www.investopedia.com/terms/c/charitable-remainder-annuity-trust.asp
2. https://www.irs.gov/charities-non-profits/charitable-remainder-trusts
3. https://www.fidelity.com/viewpoints/wealth-management/insights/grantor-retained-annuity-trusts
4. https://smartasset.com/estate-planning/grantor-retained-income-trust
5. https://www.law.cornell.edu/wex/grantor-retained_unitrust
6. https://www.aspenwealthmgmt.com/estate-planning

The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.

This information has been derived from sources believed to be accurate and is intended merely for educational purposes, not as advice.

This recorded posting utilizes AI generated voiceovers. While the Firm strictly prohibits the use of AI for advisory activities constituting investment advice, financial plans, portfolio analysis and management, and reporting, the use of AI for other purposes, such as voiceovers, is permitted and utilized for the firm’s recordings.

Hosted on Acast. See acast.com/privacy for more information.

Is midlife destined to be a crisis, or can it be a time of positive reflection and renewal? In this episode of Purposeful Planning, we explore how to transform the traditional "midlife crisis" into an opportunity for meaningful growth. Learn how to assess your accomplishments, realign your priorities, and develop a financial roadmap for your "next act"—whether that's a traditional retirement, a hybrid approach, or something entirely different.

Sources:

1. https://www.aspenwealthmgmt.com/resource-center/blog/different-stages-of-the-financial-journey
2. https://www.forbes.com/sites/jannfreed/2024/06/03/3-reasons-not-to-retire/
3. https://www.aspenwealthmgmt.com/resource-center/lifestyle/gratitude-and-retirement
4. https://www.aspenwealthmgmt.com/resource-center/financial-planning/what-crisis-making-midlife-a-time-of-anticipation

The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.

This information has been derived from sources believed to be accurate and is intended merely for educational purposes, not as advice.

This recorded posting utilizes AI generated voiceovers. While the Firm strictly prohibits the use of AI for advisory activities constituting investment advice, financial plans, portfolio analysis and management, and reporting, the use of AI for other purposes, such as voiceovers, is permitted and utilized for the firm’s recordings.

Hosted on Acast. See acast.com/privacy for more information.

Life's big moments, like marriage and having children, are exciting milestones. These milestones do require thoughtful financial planning. In this episode of Purposeful Planning, we explore essential financial moves for newly married couples and first-time parents. From budgeting and emergency funds to insurance and estate planning, discover how establishing good habits now can create security for decades to come.

Sources:

1. https://www.aspenwealthmgmt.com/resource-center/blog/different-stages-of-the-financial-journey
2. https://www.aspenwealthmgmt.com/resource-center/financial-planning/good-financial-habits-for-young-couples
3. https://www.investopedia.com/terms/1/529plan.asp

The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.

This information has been derived from sources believed to be accurate and is intended merely for educational purposes, not as advice.

This recorded posting utilizes AI generated voiceovers. While the Firm strictly prohibits the use of AI for advisory activities constituting investment advice, financial plans, portfolio analysis and management, and reporting, the use of AI for other purposes, such as voiceovers, is permitted and utilized for the firm’s recordings.

Hosted on Acast. See acast.com/privacy for more information.

We all know compounding can grow our wealth over time, but what about applying this powerful principle to other areas of our lives? In this episode of Purposeful Planning, we explore how the concept of compounding can enhance your knowledge, daily routines, reading habits, physical health, and even your emotional well-being. Discover how small, consistent actions in these areas can lead to remarkable results over time—just like compound interest works with your investments.

Sources:

1. https://www.aspenwealthmgmt.com/contact-us-fee-only-advisors-fort-worth
2. https://www.aspenwealthmgmt.com/resource-center/lifestyle/compounding-its-not-just-for-finances

The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.

This information has been derived from sources believed to be accurate and is intended merely for educational purposes, not as advice.

This recorded posting utilizes AI generated voiceovers. While the Firm strictly prohibits the use of AI for advisory activities constituting investment advice, financial plans, portfolio analysis and management, and reporting, the use of AI for other purposes, such as voiceovers, is permitted and utilized for the firm’s recordings.

Hosted on Acast. See acast.com/privacy for more information.

Money talks can make or break relationships, but many couples struggle to find the right balance. In this episode of Purposeful Planning, we explore how couples can build stronger financial communication, understand different money personalities, and create strategies for discussing shared and separate assets. Whether you're newly married or celebrating decades together, these tips can help strengthen both your financial and emotional bonds.

Sources:

1. https://newsroom.breadfinancial.com/making-cents-of-love-and-money
2. https://www.investmentnews.com/industry-news/financial-infidelity-credit-card-debt-behind-one-third-of-divorces/249211#:~:text=Financial%20infidelity%2C%20credit%20card%20debt,third%20of%20divorces%20%2D%20Investment%20News
3. https://www.amazon.com/Purposeful-Planning-Aspen-Wealth-Management/dp/B0888121RM/
4. https://www.aspenwealthmgmt.com/resource-center/financial-planning/financial-communication-tips-for-couples

The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.

This information has been derived from sources believed to be accurate and is intended merely for educational purposes, not as advice.

This recorded posting utilizes AI generated voiceovers. While the Firm strictly prohibits the use of AI for advisory activities constituting investment advice, financial plans, portfolio analysis and management, and reporting, the use of AI for other purposes, such as voiceovers, is permitted and utilized for the firm’s recordings.

Hosted on Acast. See acast.com/privacy for more information.