Tag: Wealth Management
Case Study: Crafting a Financial Independence Plan

Case Study: Crafting a Financial Independence Plan

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Transform your assets into the life you’ve always dreamed of!

In this episode of the MedTech Wealth Advisor podcast, host Matt Nelson, CFP® and Jacob LaRue, CFP® go through a real-life example in a case study. They discuss the imperative considerations and how they created a Financial Independence Plan unique to the client. 

The first step is to understand the clients’ values, needs, and what exactly they want out of life. Then they can delve into the specifics of their financial picture and specific challenges, such as stock options. With all the information delivered a plan is developed to reach their short-term and long-term financial independence goals while still prioritizing the values, goals, and desired lifestyle of the client. 

Also discussed is creating a “baseline scenario” to account for potential ups and downs in income and expenses. This creates a solid framework that can adapt even in the face of major life events. Tune in for a comprehensive look at what it takes to plan for your future and create your own personal Financial Freedom Statement!

Key Highlights: 

    • Understanding Core Values: Rather than working from their own ideals and processes, getting to know the client’s personal views and values is the initial guide to the planning process.
  • Financial Freedom Statements: An overall view of a client’s financial outlook in the present and the future, as well as the options that are available to adjust their work-life balance
    • Equity Compensation & Benefits: Don’t miss out on equity compensation not yet vested, understand all your benefits and how to maximize them.
    • Long-Term Planning: Building a comprehensive financial independence plan looks beyond immediate spending to consider lifestyle changes, potential sabbaticals, increased travel, and other long-term goals.
  • Baseline Scenarios: Creating an initial template with expected income and known expenses in the present and future lays a foundation for
  • And more!

 

Resources:

Connect with Matt Nelson:    

Connect with Jacob LaRue: 

Connect with Perspective 6 Group:       

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Estate Planning: Beyond the Basics with Jen Santini, J.D. (Ep. 18)

Estate Planning: Beyond the Basics with Jen Santini, J.D. (Ep. 18)

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Have you planned how your assets will be handled after you’re gone?

Building on foundational estate planning strategies, this episode of the MedTech Wealth Advisor Podcast, hosted by Matt Nelson, CFP® with guest Jen Santini, J.D. gets into advanced estate planning strategies for MedTech professionals and entrepreneurs. They explore the critical roles of wills and trusts for asset distribution after death and incapacity planning. With a breakdown of the three types of trusts and what might be the best option for you. This conversation aims to simplify estate planning as an integral part of both professional and personal financial management.

Key Highlights:

  • Wills and Trusts: Matt and Jen emphasize the key roles of wills and trusts in avoiding state-enforced asset distribution and in managing assets effectively after death or during incapacity
  • Living Revocable Trusts: The episode underscores the importance of living revocable trusts for property owners across multiple states or those with complex family situations like blended families, ensuring adaptive asset control
  • Trust Types Explained: Jen distinguishes between revocable and irrevocable trusts, highlighting their advantages and limits with a focus on asset protection and tax implications
  • Tax Planning with Trusts: They explore strategic tax planning with trusts to maximize tax benefits and preserve estate value, particularly effective in high-tax states
  • Elder Care and Asset Protection: The significance of early planning for elder care and asset protection is discussed, aiming to solve asset transfer issues and maintain eligibility for public benefits
  • Planning for Minor Children and Heirless Estates: The necessity of appointing trustworthy guardians and trustees is highlighted, focusing on protecting the financial futures of minors and managing estates without direct heirs
  • And much more!

Tune in to gain actionable advice and ensure your estate planning aligns with your wishes, safeguarding your legacy for the future.

 

Resources:

Connect with Matt Nelson:    

Connect with Perspective 6 Group:       

Connect with Jen Santini: 

 

About Jen Santini: 

From an early age, Jen knew she wanted to go to law school. Not because she came from a family of attorneys but because she enjoyed solving problems and helping others. Being a lawyer was a way to combine her passions. However, she did not expect that she’d ultimately practice primarily as a trusts & estates attorney. 

Prior to forming Sykora & Santini PLLC, Jen spent the majority of her professional career in the financial services industry in Boston. During law school, Jen worked in the legal department at Putnam Investments and then transitioned to MFS Investment Management. At both companies, she focused on legal matters complying with SEC, FINRA and state regulations. In addition, Jen has worked on corporate governance matters, such as reorganization of departments, rebranding of products, and mergers and acquisitions.

Upon graduation from law school, Jen moved to the Twin Cities. She did not intend to start her own firm but partnering with Jayne to do so has been one of her best decisions. She loves working with people and enjoys learning about her clients’ life stories – both personally and professionally. 

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The Fundamentals of Estate Planning with Jen Santini, J.D. (Ep. 17)

The Fundamentals of Estate Planning with Jen Santini, J.D. (Ep. 17)

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Did you know you have an estate plan whether you know it or not? 

Uncover the critical importance of choosing the right proxies in estate planning with professional guidance on this episode of the MedTech Wealth Advisor Podcast. Matt Nelson discusses the fundamentals of estate planning with Jen Santini, an esteemed leader within the Minnesota State Bar Association. Throughout the episode, Santini unravels the complexities of estate planning, providing structured strategies and emphasizing its necessity for everyone, not just the wealthy.

Key Highlights:

  • Estate Planning Essentials: Santini stresses the broad scope of estate planning, including vital preparations for unexpected incapacitation
  • Choosing the Right Proxies: The discussion spotlights typical mistakes in proxy selection, advocating for choices that reflect personal values instead of defaulting to family hierarchies
  • Understanding Power of Attorney: Santini dispels common myths surrounding POA, focusing on spousal rights and the scope of responsibilities
  • Complexities of Guardianships and Beneficiaries: Insights into the delicate issues of nominating guardians and beneficiaries underscore the critical role of wills
  • Call to Proactive Planning: The episode wraps up with a persuasive call to action for listeners to actively engage in their estate planning to avoid legal and familial complications
  • And much more!

Tune in to gain actionable advice and ensure your estate planning aligns perfectly with your wishes, safeguarding your legacy for the future.

 

Resources:

  • Do you have a topic you’d like to learn more about on this podcast? Send us an email at mwapodcast@focusfinancial.com to let us know. We look forward to hearing from you!

Connect with Matt Nelson:    

Connect with Perspective 6 Group:       

Connect with Jen Santini: 

 

About Jen Santini: 

From an early age, Jen knew she wanted to go to law school. Not because she came from a family of attorneys but because she enjoyed solving problems and helping others. Being a lawyer was a way to combine her passions. However, she did not expect that she’d ultimately practice primarily as a trusts & estates attorney. 

Prior to forming Sykora & Santini PLLC, Jen spent the majority of her professional career in the financial services industry in Boston. During law school, Jen worked in the legal department at Putnam Investments and then transitioned to MFS Investment Management. At both companies, she focused on legal matters complying with SEC, FINRA and state regulations. In addition, Jen has worked on corporate governance matters, such as reorganization of departments, rebranding of products, and mergers and acquisitions.

Upon graduation from law school, Jen moved to the Twin Cities. She did not intend to start her own firm but partnering with Jayne to do so has been one of her best decisions. She loves working with people and enjoys learning about her clients’ life stories – both personally and professionally. 

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Jacob’s Journey: Building a Foundation on Integrity and Family Values (Ep. 16)

Jacob’s Journey: Building a Foundation on Integrity and Family Values (Ep. 16)

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What drives a financial planner to focus on factors beyond the numbers?

In this week’s dialogue on the MedTech Wealth Advisor Podcast, host Matt Nelson, CFP®, AIF®, ECA welcomes Jacob LaRue, CFP®, a pivotal team member whose personal and professional journey offers a unique perspective on the financial planning landscape. Growing up in a Chicago suburb, Jacob’s early life lessons in integrity, teamwork, and diligence have deeply influenced his financial advisory approach.

Key Highlights:

  • Values at the Core: Reflecting on his family’s entrepreneurial background, Jacob explains how these moral and ethical standards have become the cornerstone of his professional life
  • Educational and Career Evolution: Jacob traces his journey from an aspiring baseball player to a dedicated financial planner, emphasizing the critical courses and extracurriculars at Western Kentucky University that shaped his path
  • Focus on Clients: Jacob details his commitment to ethical, client-oriented advising, shaped by handling diverse client situations and focusing on personalized financial plans
  • Empathetic Advising: He stresses the importance of recognizing clients’ backgrounds and motivations, blending analytical skills with empathy to tailor advice effectively
  • Life Beyond Numbers: Jacob shares personal stories, including how he met his wife in a financial planning class, illustrating how personal and professional lives intertwine
  • Resilience in Practice: Sharing a mantra from his baseball days, Jacob highlights the role of resilience and optimism in overcoming professional challenges

Explore these insights and more to understand the profound impact of personal values and professional integrity in the world of financial planning.

 

Resources:

Connect with Matt Nelson:    

Connect with Jacob LaRue: 

Connect with Perspective 6 Group:       

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Investing for Decades Not Days (Ep. 14)

Investing for Decades Not Days (Ep. 14)

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Is your portfolio designed for sustained growth without succumbing to market speculation?

Join us for a compelling episode of The MedTech Wealth Advisor Podcast. Host, Matt Nelson, CFP® welcomes back Matthew Finley, CFP®. The pair dive into tailored investment strategies that guide their business. This discussion emphasizes consistent, disciplined investment approaches over speculative, high-risk tactics often highlighted by the financial media. Discover strategies that could enable stable returns to support your financial future.

Key Highlights:

  • Commitment to Long-Term Growth: Leverage the power of compounding returns in robust global economies
  • Priority on Liquid Investments: Why Perspective 6 Group focuses on publicly traded investments that offer predictable, consistent returns
  • Balanced Alternative Investments: The strategic role of alternatives like private equity and real estate in complementing a strong market foundation
  • Weighing Risk and Stability: A look at the risks of speculative assets versus the stability and inflation protection offered by equities
  • Informed Portfolio Adjustments: How strategic tweaks during market shifts can enhance long-term outcomes without derailing financial goals
  • Customized Retirement Strategies: Tailor retirement plans to meet long-term growth and immediate income needs effectively
  • Dispelling Investment Myths: Debunk common myths and highlight the growing importance of technology in investment portfolios

Explore these insights and more to learn about building a resilient investment strategy.

 

Resources:

  • Do you have a topic you’d like to learn more about on this podcast? Send us an email at mwapodcast@focusfinancial.com to let us know. We look forward to hearing from you!
  • Read more on Perspective 6 Group’s Investment Philosophy here.

Connect with Matt Nelson:    

 Connect with Matthew Finley: 

Connect with Perspective 6 Group:       

Investing involves risk including the potential loss of principal. No investment strategy can guarantee a profit or protect against loss in periods of declining values. Past performance is no guarantee of future results. Please note that individual situations can vary. Therefore, the information presented here should only be relied upon when coordinated with individual professional advice.

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Building Roots: A Passion for Legacy With Matthew Finley, CFP® (Ep. 13)

Building Roots: A Passion for Legacy With Matthew Finley, CFP® (Ep. 13)

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Can a background in medicine and microbiology revolutionize financial advising?

Discover the remarkable transformation of Matthew Finley, CFP®, Partner & Senior Financial Advisor at Perspective 6 Group. From an aspiring doctor to a successful financial advisor, this is a fascinating episode of The MedTech Wealth Advisor Podcast. Join our host, Matt Nelson as he dives into Matthew’s unique journey, highlighting how personal values and pivotal life decisions can profoundly shape one’s career in financial management.

Key Highlights:

  • Pivotal Career Shift: Dive into Matthew’s decision to move from aspiring doctor to financial advisor, a choice influenced by his quest for work-life harmony
  • Early Inspirations: Discover how Matthew’s grandfather, an astute investor, ignited his passion for finance
  • Diverse Career Journey: Trace Matthews’s path from microbiology research to thriving in the dynamic world of business finance and eventually finding his calling in financial advising
  • Resilience During Financial Crisis: Learn about Matthew’s strategic approach to financial advising during challenging times, including the 2008 recession and recent economic fluctuations
  • Empathetic Client Relationships: Understand how Matthew’s background enables him to relate to clients seeking honest and compassionate financial advice
  • The Man Behind the Advisor: Peek into Matthew’s personal life, from his achievements in distance running to cherishing moments with his family and the great outdoors
  • Wisdom for Aspiring Advisors: Listen to Matthew’s insights on pursuing a financial career passionately while maintaining a balance with personal life
  • And much more!

 

Looking Ahead: 

Gear up for an inspiring conversation on the Perspective 6 Group investment philosophy in the next episode, where Matthew and Matt will share how diverse life experiences enrich financial decision-making and strategy formation.

 

Resources:

  • Do you have a topic you’d like to learn more about on this podcast? Send us an email at mwapodcast@focusfinancial.com to let us know. We look forward to hearing from you!

Connect with Matt Nelson:  

Connect with Matthew Finley:  

Connect with Perspective 6 Group:      

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Important Tax Planning Numbers for 2024 (Ep. 11)

Important Tax Planning Numbers for 2024 (Ep. 11)

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Limits, Contributions, Deductions – Do you know the critical updates for each in 2024?

Join Matt Nelson, CFP® & Jacob LaRue, CFP® in the latest episode of the MedTech Wealth Advisor Podcast. Together they share insights for professionals and entrepreneurs, providing essential tax planning strategies and contribution limits to set you up for success this year.

Key Highlights:

  • 2024 Contribution Limits: Discover updated limits for 401(k)s and HSAs, explained for different age groups
  • Optimal Contribution Strategy: Learn how to strategically prioritize contributions to maximize benefits
  • Comprehensive 401(k) Limits: Gain insights into the total contribution limits, encompassing all sources
  • Pre-Tax vs. Roth Contributions: Understand the combined contribution limits for different 401(k) types
  • Tax Bracket Tactics: Explore how to utilize tax brackets for efficient contribution strategies
  • Income Phase-Outs: Learn how rising income affects eligibility for savings plans
  • Social Security and Medicare Planning: Get strategies for managing benefits and premiums based on income and age
  • Capital Gains and Deductions: Master tactics for high earners to optimize taxes and deductions
  • And much more!

 

Resources:

Connect with Matt Nelson:   

Connect with Jacob LaRue:   

 Connect with Perspective 6 Group:       

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RSUs Part 1: How do RSUs & Restricted Stock Work? (Ep. 8)

RSUs Part 1: How do RSUs & Restricted Stock Work? (Ep. 8)

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Have you been offered stock options at your company, but aren’t sure how to proceed?

Explore the intricate world of Restricted Stocks and Restricted Stock Units (RSUs) with experts Matthew Nelson and Jacob LaRue in this enlightening MedTech Wealth Advisor episode. Designed specifically for professionals in the MedTech sector, this comprehensive discussion unravels the complexities of these essential equity compensation options and their significant role in shaping financial strategies within the industry.

Key Highlights:

  • Introduction to RSUs: Understanding their role as a common form of equity compensation and the basics of how they work
  • Vesting and Taxation: Insights into vesting schedules, the implications of taxation at vesting, and the differences in withholding methods
  • Valuing RSUs: Expert tips on calculating RSU value and the importance of comprehending company-specific documentation
  • Navigating RSU Challenges: Discussing the unique challenges faced by private company RSU holders and strategies for effective management
  • Maximizing RSU Benefits: Practical advice on leveraging RSUs for financial growth, including vesting acceleration and managing value fluctuations
  • And much more!

 

Resources:

Connect with Matthew Nelson:  

Connect with Jacob LaRue:  

 Connect with Perspective 6 Group:      

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How To Maximize Your 401(k) With Matthew Nelson (Ep. 6)

How To Maximize Your 401(k) With Matthew Nelson (Ep. 6)

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Ever wondered if your 401(k) could do more?

Unlock the full potential of your 401(k) with financial planning professional Matt Nelson in this episode of “The MedTech Wealth Advisor Podcast”. Tailored for MedTech professionals and entrepreneurs, this episode is loaded with insights into optimizing your 401(k) retirement plan.

Key Highlights:

  • Maximizing Contributions: Unearth the secrets to accessing ‘free money’ via employer matches
  • Navigating Contribution Types: Journey through the complexities of different contribution types and how they impact your financial future
  • Balancing for Future Tax Gains: Master the strategy of aligning contributions to reap maximum tax benefits down the line
  • Exploring Employer Matches: Dive into the lesser-known aspects of employer matches and their potential to significantly bolster your retirement savings
  • The Early Bird Advantage: Understand why initiating your 401(k) contributions early can lead to a more prosperous retirement
  • And much more!

 

Resources:

Connect with Matthew Nelson:  

Connect with Perspective 6 Group:  

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