Many families have plans to pass along some of their wealth to children and grandchildren. But what about passing on financial values, a sense of purpose and possibility, and other family legacy concerns?

On the latest episode of Advance Your Wealth, we’re taking a look at how legacy planning can potentially help both the people transferring their wealth and the people receiving it.

Chapters:

0:00 - Introduction and overview on the topic of the day

1:06 - Estate planning and wealth planning conversations don't go far enough

2:56 - What can we learn from the ultra-wealthy families out there?

4:15 - Addressing the tension created in these moments

5:52 - Steps to instill values before transferring wealth

7:09 - The importance of discussing wealth a lot over time

9:11 - Advice on getting these important conversations started

11:29 - Steps you can take to begin discussing values and living them

14:17 - What if you have a very large family?

17:41 - How to get in touch with Homer's team

18:37 - Closing remarks

In this episode of Advance Your Wealth, Homer Smith sits down with financial expert Guy Ridout to discuss "The Costly Threats and Untapped Opportunities of Managing Your Company's 401k." Together, they explore the often-overlooked challenges and risks businesses face when managing 401k plans, including hidden fees, regulatory pitfalls, and fiduciary responsibilities. But it’s not all about the threats—Guy also shares valuable insights into the untapped opportunities that can benefit both employers and employees, from improving plan performance to boosting employee retention.

Whether you're a business owner, executive, or plan administrator, this episode provides essential knowledge on how to protect your company's 401k from costly mistakes and maximize its potential for long-term success. Tune in to learn how proactive 401k management can be a powerful tool for your business and your employees' financial futures.

Chapters:

0:00 - Introduction and overview on the topic of the day

2:59 - Identifying Threats in 401K Planning

5:48 - Compliance Challenges in 401K Plans

8:50 - Employee Perception and Engagement with 401K Plans

11:57 - Unlocking Opportunities

15:00 - The Role of Financial Advisors in 401K Management

17:50 - Real World Applications and Success Stories

21:05 - Closing remarks

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Today Homer breaks down the differences and benefits of Single Family and MultiFamily Offices. Both have their strengths and depending on your families circumstances, one may behoove you more than the other. No one family is the same. To figure out which category yours may fit in best, join us on today's episode of "Advance Your Wealth."

Chapters:

0:00 - Introduction and overview on the topic of the day

1:55 - The Single Family Office

3:10 - The Multi-Family Office

7:00 - Key Differences

9:00 - Multi-Generational Planning

10:10 - Virtual Family Office

12:10 - Common Needs of Family Office Clients

13:00 - Benefits of Multi-Family Offices

14:00 - How to Connect with Homer Smith

14:35 - Closing remarks

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Today Homer examines the fundamental aspects that may make up your best financial life. The qualities you can develop in order to best live a life of significance and happiness. Easier said than done, that's clear. However, knowing where these aspects show up in your life will lead to better being able to act in accordance with your best life and the values that make it possible.

This and more on today's episode of "Advance Your Wealth."

Chapters:

0:00 - Introduction and overview on the topic of the day

3:22 - Success vs. Significance

4:20 - What's Your Number? Why?

5:10 - Significance Based on Generation

6:40 - The Millennial Generation

7:00 - Wealth Thresholds and Value Creep

8:50 - Transitioning Values

10:30 - Getting Clarity on Success

12:00 - Recognize Where You Are

14:20 - Discovery and Rediscovery to Significance

17:25 - How to Connect with Homer Smith

18:25 - Closing remarks

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Today we are joined by Melissa Smith, CEO and founder of Family Brand Podcast. Melissa works with parent's on how to transform their family cultures, create relationships that last, and intentionally grow their families together. How does the family correlate with business success?

This and more on today's episode of "Advance Your Wealth."

Chapters:

0:00 - Introduction and overview on the topic of the day

2:12 - What is a Family Brand?

3:30 - Family Doesn't Happen By Default.

5:50 - How Melissa Works With Family.

8:40 - The Idea of And.

13:15 - Family Brand Across Time.

15:10 - Melissa's Personal Examples In The Process

17:30 - Empty Nester's Experience with Family Branding

20:40 - How to Connect with Melissa Smith

21:45 - Closing remarks

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Today we are joined by Chad Jenkins, CEO and founder of SeedSpark. Seeking exponential growth is difficult for most entrepreneurs. Many times, business owners may get laser focused on the wrong areas which could lead to missing out on great opportunities. Chad and Homer break down ways to remove the film over your eyes and see opportunities clearly.

This and more on today's episode of "Advance Your Wealth."

Chapters:

0:00 - Introduction and overview on the topic of the day

2:10 - Collaboration vs. Competition

5:40 - Chad's Hero Target and Creating Value

9:20 - The Benefit of Outside Perspective

12:50 - Levels of Friction

17:15 - New Rate Plans Example and Innovation Solutions

20:00 - Leveraging The Market

25:30 - Common Components Business are Missing

34:10 - How to Connect with Chad Jenkins

35:15 - How to Connect with Homer Smith

35:30 - Closing remarks

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Often times, preparation and thorough planning is seen as the safeguard to a successful business. However, there comes a point where the plan can become stale and out-of-date. Many business owners and entrepreneurs may want to update their business plan but don't know what to look for in terms of weak points. That's where Homer comes in with this episode of Advance Your Wealth.

Join us today to learn how to stress test your business plan and better prepare for the unknown future.

Chapters:

0:00 - Introduction and overview on the topic of the day

1:40 - Homer Smith on Stress Testing

2:50 - What Does a Good Stress Test Look Like

4:40 - Who is Qualified for Stress Testing

6:30 - Areas to Focus on in Your Planning Check-up

10:05 - Selling Your Business and Exit Planning

17:05 - When to Go Through a Stress Testing Process

19:10 - Getting the Outcome That You Want

19:45 - How to connect with Homer Smith

20:00 - Closing remarks

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In a world often dominated by limitations and barriers, it's time to shift our focus towards what's possible. Join us in this illuminating episode as we delve into the realm of possibility with our esteemed guest, Chris Smith, Founder of The PSBLTY Co. Chris brings a wealth of experience working with successful entrepreneurs and business owners, helping them navigate through challenges and unlock the full potential of their lives.

In this conversation, we'll explore why it's crucial to prioritize possibility over limitations and how this mindset can revolutionize our approach to life and business. From reframing setbacks as opportunities to embracing uncertainty with open arms, Chris shares invaluable insights and strategies to inspire listeners to dream bigger and reach higher.

Chapters:

0:00 - Introduction and overview on the topic of the day

1:23 - Homer working closely with Chris and his team over the years

3:18 - Possibility versus limitation

6:50 - Over-focusing on what's not working in your life and business

10:49 - "I don't matter. I'm not enough. I'm not worthy."

15:09 - A story from Chris helping to coach a high school basketball team

18:39 - Recognizing the importance of positive reinforcement and speaking possibility into people

24:35 - You matter, you're worthy, and you belong!

27:24 - How to connect with Chris Smith online

27:53 - Closing remarks

Connect with Homer Smith:

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