Tag: The Millionaire Next Door

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The Benefits of 1031 Exchanges for Real Estate Investors with Joe Carey, CFA® (Ep. 40)

The Benefits of 1031 Exchanges for Real Estate Investors with Joe Carey, CFA® (Ep. 40)

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Have you heard about 1031 exchanges? Leveraging this strategy correctly could help investors sell and reinvest without facing capital gains taxes — thereby preserving wealth.

Join Robert Curtiss with guest Joe Carey,  alternative investment specialist at Signature Estate & Investment Advisors, LLC, as they talk about the benefits and complexities of 1031 exchanges, a tax deferral strategy for real estate investors. 

Rob and Joe discuss:

  • When should real estate investors consider using a 1031 exchange as a tax deferral strategy
  • Why would clients benefit from utilizing a 1031 exchange
  • What are the costs associated with different types of Delaware Statutory Trusts (DSTs)
  • Ways 1031 exchanges add value to long-term wealth planning
  • And more!

Resources:

Connect with Joe Carey:

Connect with Robert Curtiss:

About Our Guest:

In May 2018, Joe Carey earned his Bachelor of Science Degree in Finance at Siena College, achieving the Academic Excellence Award – Finance, which is awarded annually to the graduating student with the highest program GPA. 

Since graduating, he has committed to continuing his education through enrollment in the CFA Program, obtaining his charter in 2022. Currently, Joe is an Investment Officer at NYSTRS in the Investment Risk division, where he focuses on the ~$150 billion portfolio’s active risk, liquidity position, solvency during stressed markets, and asset allocation mix. 

Additionally, Joe is a leading member in the development of NYSTRS’ climate risk strategy, reporting, and assessment processes.

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Trust and Transparency: The Foundation of a Successful Advisor-Client Relationship with Mike Cy (Ep. 39)

Trust and Transparency: The Foundation of a Successful Advisor-Client Relationship with Mike Cy (Ep. 39)

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Advisors, are you currently evolving your business? 

What opportunities and information might your clients miss if you don’t continue growing your practice?

This week, Rob Curtiss brings back Mike Cy, a returning guest and business consultant at Pareto Systems. Rob and Mike discuss the importance of communication and building relationships with clients and explain why it is valuable to both of them.

Listen in as they touch on the value of aligning and personalizing services to their client’s unique needs while addressing all things market volatility, geopolitical tensions, and alternative investment strategies. 

Rob and Mike explore:

  • Reasons advisors should continually evolve their financial advisory practice depending on their client’s unique needs 
  • Client engagement as an essential financial planning component 
  • The comprehensive role of a financial advisor beyond basic financial advice
  • And more!

Resources:

Connect with Mike Cy:

Connect with Robert Curtiss:

About Our Guest:

Mike “Cy” Cajthaml Jr. has enjoyed a 14-year career in the financial services industry. Mike is a passionate and energetic leader who enjoys developing business refinement and practice management strategies and thrives on helping his clients achieve their goals.

He got his start in the industry at a large insurance marketing organization, where he consulted financial advisors across the country with product and marketing solutions for their businesses. It was during his time with this firm that he was introduced to Pareto Systems and began learning about the Pareto Process.

After six years of coaching and consulting advisers, Mike decided to become a financial advisor himself and built a practice with his father in Overland Park, KS. Together, they managed millions of dollars of assets and utilized various insurance-based products. In an incredibly competitive marketplace, Mike knew the value of creating professional contrast and began implementing many of Pareto’s processes.

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The Power of Personalized Retirement Planning with Jordan Cross (Ep. 38)

The Power of Personalized Retirement Planning with Jordan Cross (Ep. 38)

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Having a retirement plan is the first step in building your future. 

But do you have the right plan? How can small parts of a plan work together to transform a few hundred thousand into a seven-figure retirement fund?

Get ready to explore retirement planning, wealth accumulation, and tax deduction strategies with Jordan Cross, the president of CrossPlans.

In this episode, Jordan joins Rob Curtiss to talk about the current state of qualified retirement plans, why individuals need to start planning for retirement, and the role of financial advisors when it comes to building those plans with their clients.

Jordan discusses:

  • How he got started in the financial planning industry
  • Why advisors and their clients need to start taking retirement planning more seriously
  • How qualified retirement planning can benefit business owners
  • Ways we can contribute to the growing technology industry
  • And more!

Resources:

Connect with Jordan Cross:

Connect with Robert Curtiss:

About Our Guest:

Jordan Cross was born and raised in Orange County, California. He graduated from the University of California, San Diego, with a double major in Political Theory and Sociology. In January 2009, after working for a professional baseball agency assisting the firm with client acquisition and number-crunching contract negotiations, Jordan decided to join Jack A. Cross & Associates, Inc. when the firm was just over two years old.

Starting with loans, distributions, and trust accounting, Jordan has moved through all administrative layers of the organization and is now an equity partner in the firm. In addition to day-to-day duties, Jordan spearheads CrossPlan’s business development, sales, and marketing while focusing on the growth and retention of the firm’s clients and centers of influence.

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As We Transition From Summer to Fall: Reflecting on Financial, Estate, Investment, and Tax Topics (Ep. 37)

As We Transition From Summer to Fall: Reflecting on Financial, Estate, Investment, and Tax Topics (Ep. 37)

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At 37 episodes, The Millionaire Next Door Podcast has explored a multitude of topics, from financial planning tips to life-changing experiences and lessons. 

Each conversation contains helpful information and resources you can use and refer to! 

In this episode, Rob Curtiss shares his top-of-mind topics, ranging from general finances to estate, tax, and investment planning. Rob highlights how different aspects of planning evolve with changing needs and how his podcast provides valuable advice for existing and potential clients.

Rob discusses:

  • How his podcast and the stories on it can help people learn beneficial financial lessons
  • The process behind estate planning and the importance of frequent updates
  • Strategies when navigating investments and tax implications
  • The value of regular client-advisor communication and check-ins 
  • And more!

Resources:

Connect with Robert Curtiss:

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Revolutionizing Financial Planning For The Aging Population with Tom West (Ep. 36)

Revolutionizing Financial Planning For The Aging Population with Tom West (Ep. 36)

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Whether you or a loved one is reaching a point where you need more care, it may be challenging (but not impossible!) to find the right plan for your needs. 

What strategy is the best? How much will it cost? Should you move to a senior home or hire caretakers?

In this episode, Rob Curtiss is joined by a fellow SEIA colleague from the East Coast, Tom West, who has developed a process to address the challenges of medical care and aging. Rob and Tom cover the importance of navigating dynastic issues within families and the need for financial advisors to understand and meet the changing financial needs of senior clients as their health changes.

Tom discusses:

  • The importance of addressing and shifting priorities when it comes to caregiving
  • Reasons caregiving impacts the caregiver’s health and the value of support and respite for them, too
  • What you need to know about Life Care Affordability Planning® and its focus on medical prognosis and planning for care
  • The value of having a methodical process (such as estate planning documents) in place
  • Some of the challenges faced by the aging population and the impact the pandemic has had on senior housing and the healthcare industry
  • And more!

Resources:

Connect with Tom West:

Connect with Robert Curtiss:

About Our Guest:

Thomas C. West, CLU®, ChFC®, AIF®, is a Senior Partner in SEIA’s Virginia office. Tom has a robust wealth management practice that emphasizes cash flow in all stages of retirement with an emphasis on planning and asset management for families facing the challenge of health-related dependency due to disability, illness, or death. Tom also has significant experience in issues related to suitable and ethical financial strategies for incapacitated seniors.

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Is Private Lending the Future of Investments? with Phil Hasbrouck (Ep. 35)

Is Private Lending the Future of Investments? with Phil Hasbrouck (Ep. 35)

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Are you interested in exploring the future of the financial and investment landscape and the contribution the private lending arena can bring to the field? 

In this episode, Rob Curtiss is joined by Phil Hasbrouck, the co-head of Cliffwater’s asset management business. Phil sheds light on the growing private lending market and what Cliffwater brings to the space. Phil also explains the opportunities and risks associated with investing in private debt, emphasizing the importance of conservative underwriting and its ability to navigate economic downturns.

Phil explores:

  • How private lending has grown to the multimillion-dollar market it is today
  • The importance of understanding the risks associated with private lenders
  • Some risks and return characteristics of private lending
  • The fees and cost savings that come with working with firms like Cliffwater
  • And more!

Resources:

Connect with Phil Hasbrouck:

Connect with Robert Curtiss:

About Our Guest:

Phil Hasbrouck is the co-head of Cliffwater’s asset management business. In this role, Phil leads the firm’s asset management distribution efforts and is involved with product development and positioning, business development, and managing client relationships.

FEATURE
The Impact of The Media on Investment Decisions (Ep. 34)

The Impact of The Media on Investment Decisions (Ep. 34)

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Have you ever come across a news article that highlights the latest investment opportunities? Or seen news reports warning about certain stocks that could impact your portfolio?

The real question you should be asking is if that information truly benefits your portfolio and long-term goals.

In this episode, Robert Curtiss discusses the importance of a well-diversified portfolio and long-term investment goals. He reveals the role of the media in investment decisions, how it can generate panic and lead to bad investment choices as well as how the media focuses on viewership rather than good investment advice.

Rob explores:

  • His very own noise-canceling headphones analogy and how it relates to the media when it comes to investments 
  • The Objective, Unemotional, and Rules-Based (OUR) process and its approach to creating a defined view of investment data
  • The value of researching your options and filtering out the noise
  • Reasons it’s important to pay attention to trends in the stock market
  • Different sectors to invest in depending on short and long-term investment goals
  • And more!

Resources:

Connect with Robert Curtiss:

FEATURE
Unveiling the Fiduciary Approach of Signature Estate and Investment Advisors (SEIA) (Ep. 33)

Unveiling the Fiduciary Approach of Signature Estate and Investment Advisors (SEIA) (Ep. 33)

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Financial and investment advisors are all about creating the best financial plan for their client’s needs. 

But how does Signature Estate and Investment Advisors (SEIA) set themselves apart from the crowd?

In this episode, Robert Curtiss is back to basics! Rob talks about SEIA’s services and approach while emphasizing their independence and fiduciary responsibility to prioritize clients’ best interests. 

Tune in and explore the firm’s investment strategies to help clients gain the most from their portfolios. 

Rob discusses:

  • What it means to be a full fiduciary and independent wealth management firm
  • The importance of having regular conversations with clients when building their financial and investment plan
  • Why alternative investments and private debt could be beneficial investments 
  • SEIA’s ideal clients 
  • How he builds personalized relationships with his clients, and why
  • And more!

Resources:

Connect with Robert Curtiss:

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Brand Advocacy: Here’s Everything You Need To Know with Chase Griffin (Ep. 32)

Brand Advocacy: Here’s Everything You Need To Know with Chase Griffin (Ep. 32)

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Think about what attracts us to products: 

From the people talking about it to the social media content promoting it. The truth is that content creators and content creation plays a significant role in successful marketing and promotion.

In this episode, Robert Curtiss speaks with Chase Griffin, a student-athlete and national NIL athlete of the year. Chase reveals how he built himself up as a brand ambassador and what his role means for companies looking to work with him. 

Listen in as Chase details how students are becoming more involved with marketing strategies through social media and how student-athletes are joining in.

Chase discusses:

  • Name, image, and likeness (NIL) as an economic pathway to athletes and his involvement in it 
  • His journey to becoming a student-athlete, brand ambassador, and content creator 
  • Reasons branding and content creation are becoming so widespread among college and university students
  • Some of his experiences as a student brand ambassador
  • How his experience is shaping his future career
  • The value of authenticity and storytelling 
  • And more!

Resources:

Connect with Chase Griffin:

Connect with Robert Curtiss:

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Let’s Communicate Before We’re Gone with Pat Miles Zimmerman (Ep. 31)

Let’s Communicate Before We’re Gone with Pat Miles Zimmerman (Ep. 31)

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Can you imagine being in a situation where your spouse passes away, and you have no idea about their finances?

It can be an overwhelming and complex journey, to say the least. 

In this episode, Pat Miles Zimmerman joins Rob Curtiss to talk about her experience losing her husband and the struggle of sorting out financial and legal components while navigating the fog of grief. 

Sharing valuable insights from her book, “Before All Is Said And Done,”  Pat reveals what she didn’t know about her husband’s estate and the problems that surfaced from the lack of information she first had access to.

Pat discusses:

  • How she lost her husband and why she chose to share her experience
  • The value of having a written record of your financial plans
  • Why you should consider writing an ‘intention letter’ 
  • The cost of not communicating with your loved ones 
  • From passwords to the key of your safety deposit box: Tips and tricks to getting organized 
  • And more!

Resources:

Connect with Pat Miles Zimmerman:

Connect with Robert Curtiss:

About Our Guest:

Pat Miles Zimmerman, esteemed for her professionalism by viewers, listeners, and colleagues, became one of the Minneapolis region’s premier television news anchors and radio talk hosts.

After earning her master’s degree in journalism at the University of Missouri, Pat worked in both radio and television news in Colorado before joining WCCO TV in 1978 as a reporter and weekend anchor. Her intelligent reporting and authoritative delivery soon brought her to the anchor desk of WCCO’s 5:00 PM and 10:00 PM newscasts.

She covered every major news event for WCCO TV but was most proud of A Time to Weep, her documentary on the famine in Africa. In 1990, she moved to KARE TV, where she anchored the 5:00 PM and 6:00 PM newscasts and developed A Pat Miles Special, using her writing and interviewing prowess to tell the stories of notable Minnesotans. 

When she left TV news in 2001, she fulfilled a lifelong dream by becoming the host of The Pat Miles Show on weekday mornings on WCCO Radio.

A role model for women in the industry, Pat has received numerous honors for her work in broadcasting and the community, including the National Television Academy’s Silver Circle Award. She is also in the Minnesota Broadcasting Hall of Fame.

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