Caffeine And Cash Flow with Michael Schulte

Are you a business owner who's ever wondered about the best way to exit your venture when the time comes? You're not alone. Exit planning is a critical yet often overlooked aspect of entrepreneurship. Today we’ll try to help unravel the complexities of exit planning and discuss the different options most people consider when it comes time to sell the business. Here’s some of what we discuss in this episode: Learn more: https://caffeinecashflow.com/ Get in touch with Michael- Web: https://www.westpacwealth.com/team/michael-schulte Email: michael.schulte@westpacwealth.com Phone: 702-767-4897

Each generation is currently navigating a unique part of the retirement planning experience. With many Baby Boomers preparing for the transition into retirement and Generation X close behind, these two generations are asking a handful of financial planning questions. In today’s episode, we’ll share insights into the unique concerns that echo across different age groups. These are the retirement questions that each generation is asking. We’ll continue the conversation on our next episode as we talk about the younger generations and the questions they need to be asking. Here’s some of what we discuss in this episode: Learn more: https://caffeinecashflow.com/ Get in touch with Michael- Web: https://www.westpacwealth.com/team/michael-schulte Email: michael.schulte@westpacwealth.com Phone: 702-767-4897

Are you planning for your retirement with the confidence that you're making all the right moves? In today's episode, we'll unveil the crucial income planning mistakes that could jeopardize your retirement and show you how to craft a financial plan that's built to last decades, not just years. Tune in to ensure your retirement strategy is foolproof against common pitfalls and ready to secure your financial future. Here’s some of what we discuss in this episode: Learn more: https://caffeinecashflow.com/ Get in touch with Michael- Web: https://www.westpacwealth.com/team/michael-schulte Email: michael.schulte@westpacwealth.com Phone: 702-767-4897

Have you ever considered how you’ll safeguard your financial legacy for the next generation? Today we want to dive into some of the technical aspects of estate planning and the crucial role it plays in retirement strategy. Estate planning can be as complex as it is important, but Michael will demystify the process, providing clarity on how to shield your legacy and make sure your assets flow smoothly to your heirs. Here’s some of what we discuss in this episode: Learn more: https://caffeinecashflow.com/ Get in touch with Michael- Web: https://www.westpacwealth.com/team/michael-schulte Email: michael.schulte@westpacwealth.com Phone: 702-767-4897

Imagine your retirement plan as a ship sailing toward a horizon of rest and relaxation. But what if one leak could sink it all? In today’s episode, we spotlight some of the single oversights that could send your dreams to the bottom. We'll share key strategies to plug the gaps, ensuring your financial ship stays buoyant and on course. Tune in to protect your future from the one mistake that could derail everything. Here’s some of what we discuss in this episode: Learn more: https://caffeinecashflow.com/ Get in touch with Michael- Web: https://www.westpacwealth.com/team/michael-schulte Email: michael.schulte@westpacwealth.com Phone: 702-767-4897

Could the US elections be the market mover that investors have been fretting over, or is that just political noise clouding the bigger financial picture? It’s time to talk about the upcoming election and what it could mean for investors over the next two years. We're not just skimming the surface; we are diving into the data to see how investments have historically fared during the electoral tides, from Truman's post-war boom to the unpredictability of Trump's term. Here’s some of what we discuss in this episode: Data courtesy of Efficient Advisors & Evidence Based Advisors Get in touch with Michael- Web: https://www.westpacwealth.com/team/michael-schulte Email: michael.schulte@westpacwealth.com Phone: 702-767-4897

Who knows what this year will bring our way, but there’s plenty of noise everywhere you look. With the election ahead and everything else happening around the world, the noise can become a distraction for your financial planning. Today we’ll breakdown why a long-term strategy is your financial compass in a sea of sensational headlines and market speculation. Here’s some of what we discuss in this episode: Learn more: https://caffeinecashflow.com/ Get in touch with Michael- Web: https://www.westpacwealth.com/team/michael-schulte Email: michael.schulte@westpacwealth.com Phone: 702-767-4897

For those who are fortunate enough to generate significant wealth for their family, trying to preserve that wealth for multiple generations is often the much greater challenge. It takes much more than smart investing and asset management to create and sustain family wealth. The stats tell us that just 10 percent of generational wealth lasts beyond the third generation, and you can point to a variety of reasons for that to be the case. Most people that get to this point want their family to be taken care of for decades to come, but not everyone takes the necessary steps to achieve unity to within their family. It takes a concerted effort with effective communication, and today we’ll take you through the final six elements that you’ll want to apply to your planning process. Here are the six elements we discuss in this episode: Learn more: https://caffeinecashflow.com/ Get in touch with Michael- Web: https://www.westpacwealth.com/team/michael-schulte Email: michael.schulte@westpacwealth.com Phone: 702-767-4897

The stats tell us that just 10 percent of generational wealth lasts beyond the third generation, and you can point to a variety of reasons for that to be the case. Most people that get to this point want their family to be taken care of for decades to come, but not everyone takes the necessary steps to achieve unity to within their family. Here are the six elements we discuss in this episode: Learn more: https://caffeinecashflow.com/ Get in touch with Michael- Web: https://www.westpacwealth.com/team/michael-schulte Email: michael.schulte@westpacwealth.com Phone: 702-767-4897

Ever wish you could foresee financial missteps before they happen? On today’s episode explore some real-life stories of regret and arm yourself with the essential dos and don'ts to ensure your money works for you, not against you. A lot of the things we’re going to be talking could make you lose over the long run, but we want to share what we’ve learned over years of helping people with their planning. By learning from the mistakes of others, we can hopefully prevent doing many of these same things. Here’s some of what we discuss in this episode: Learn more: https://caffeinecashflow.com/ Get in touch with Michael- Web: https://www.westpacwealth.com/team/michael-schulte Email: michael.schulte@westpacwealth.com Phone: 702-767-4897

When you’re in the middle of difficult periods of market volatility, it certainly seems like this time is different and things may never turn around. But is that true? In this episode, Michael is going to look through returns over the past century to see how the market rebounded after the worst years. While there’s never a guarantee that the future will look exactly like it has in the past, the statistics we’ll share on the show will highlight the importance of investing for the long-term. Here’s some of what we discuss in this episode: Get in touch with Michael- Web: https://www.westpacwealth.com/team/michael-schulte Email: michael.schulte@westpacwealth.com Phone: 702-767-4897

Are you nearing “retirement age”? If so, let’s explore that pivotal question you’ll soon face: Should you retire or continue working? We’ll unravel the intricacies of this decision, addressing both financial and emotional aspects, and help you find out if you’re truly ready to retire. This is typically one of the first things someone asks about when they meet with a financial advisor, and there’s a lot to unwind in order to figure out when someone is ready to retire. And if they’re not, is it because they haven’t saved enough or is it more of an emotional block? Michael will tackle retirement readiness in this episode. In this episode, we’ll discuss: The different factors involved when someone tells us they aren’t really ready to retire. Have you thought about what your purpose will be in retirement? What causes people to have a lack of confidence to retire? How far out should business owners be planning their exit? What we talk about with clients who want to retire now but aren’t financially ready. Learn more: https://caffeinecashflow.com/ Contact Michael: https://www.westpacwealth.com/team/michael-schulte michael.schulte@westpacwealth.com 702-767-4897

Almost everyone has made investment mistakes at some point. Even the most successful investors have regrets about decisions they’ve made in the past. But like everything else in life, it’s all about how you respond to a misstep. In this episode, we’ll talk about how to bounce back from mistakes and avoid making them again in the future. Michael will share some numbers with us and walk us through the steps you need to take to get your investment plan back on track. The good news is there’s always time to make corrections and we’ll explain that today. In this episode, we’ll discuss: How we define an investment. How to determine the cause of your mistake by asking yourself a few specific questions. Let’s determine how much more you can save each month to make up for the losses. Recalibrating your goals and identifying areas that you can make adjustments. What a real plan consists of and how we help people get their future plans on track. Learn more: https://caffeinecashflow.com/ Contact Michael: https://www.westpacwealth.com/team/michael-schulte michael.schulte@westpacwealth.com 702-767-4897

Is there ever a right time to stop contributing to your 401k? Should you help your daughter and her boyfriend with their home purchase? What about deciding to retire at the peak of your earnings? Tune into this episode of Caffeine and Cash Flow where we tackle these questions and more. In this episode, we’ll discuss: The issues that can arise when helping your daughter buy a home with her boyfriend. With the possibility of a recession on the horizon, does it make sense to hold off on investing for a while? Is it worth keeping a mortgage for the tax deductions in retirement? How can you know if a financial advisor is legitimate or not? Will you regret walking away from a career with a great paycheck to retire a little earlier? Learn more: https://caffeinecashflow.com/ Contact Michael: https://www.westpacwealth.com/team/michael-schulte michael.schulte@westpacwealth.com 702-767-4897

Whether you’re close to retirement or still far from that exciting date, it’s not uncommon to wonder when you should start preparing for each aspect of it. Tune in to find out how far away from retirement you should have answers to these pressing questions. In this episode, we’ll discuss: Why you should start thinking about the option to downsize about 15 years out. When you and your spouse should start picking out retirement dates and whether it’s best to stagger them. Why Michael says you should be paying attention to your risk as much as 40 years before retirement. Is it realistic to have a firm grip on expenses well in advance? Learn more: https://caffeinecashflow.com/ Contact Michael: https://www.westpacwealth.com/team/michael-schulte michael.schulte@westpacwealth.com 702-767-4897

Are you ready to take control of your finances during life's most pivotal moments? In this episode, we dive into the complex world of financial decision-making during key life events. From the excitement of marriage and the joy of welcoming a new child to the challenges of divorce and the loss of a loved one, we'll provide practical tips and guidance to help you make informed decisions and maintain financial stability. In this episode, we’ll discuss: The four things you need to communicate about when you get married. (2:48) How your budget changes when you have a child. (10:51) What is a good approach to saving money for college? (14:49) Here are some of the key financial decisions that need to be made for retirement. (20:16) Learn more: https://caffeinecashflow.com/ Contact Michael: https://www.westpacwealth.com/team/michael-schulte michael.schulte@westpacwealth.com 702-767-4897

It’s not just the financially uncertain who need to think carefully about their retirement plan. Even those who feel confident in their retirement savings might still have important questions to answer and decisions to make. In this episode, we'll explore the three retirement planning mindsets: those who have no idea if they can retire, those who think they have enough money to retire, and those who know for sure they have enough money to retire. Here are the three retirement planning mindsets we’ll discuss: "I have no idea if I can retire or not." (2:22) "I think I have enough money to retire, but I’m not sure." (6:05) "I know I have enough money to retire." (12:30) Learn more: https://caffeinecashflow.com/ Contact Michael: https://www.westpacwealth.com/team/michael-schulte michael.schulte@westpacwealth.com 702-767-4897

Welcome to part two of our series about retirement planning mistakes. Last time, we talked about the pitfalls of ignoring tax implications, failing to diversify your investments, and procrastinating when starting your investments. On today’s show, we’ll share seven more mistakes people often make when planning their retirement. In this episode, we’ll discuss: Relying solely on employer-sponsored retirement plans. (1:34) Not adjusting your retirement budget for inflation. (5:22) Assuming you won’t live a long life. (8:09) Learn more: https://caffeinecashflow.com/ Contact Michael: https://www.westpacwealth.com/team/michael-schulte michael.schulte@westpacwealth.com 702-767-4897

In the complex world of retirement planning, there are countless pitfalls one could face. In part one of this two-part series, we're sharing seven of the top mistakes to watch out for. Avoiding these crucial missteps can have a significant impact on the success of your retirement plan. Join us as we delve into these key issues and learn how to navigate them effectively when it's your turn to plan for retirement. In this episode, we’ll share: Are you ignoring future tax implications? (2:49) Are you failing to diversify your investments? (5:33) Are you procrastinating on your retirement savings? (12:37) Learn more: https://caffeinecashflow.com/ Contact Michael: https://www.westpacwealth.com/team/michael-schulte michael.schulte@westpacwealth.com 702-767-4897

After listening to today’s episode, you’ll never attend another baseball game with the family and look at it the same way. We’re going to show you how taking some of baseball’s most basic principles can help lead to financial success in your retirement portfolio. Join us as we talk about successfully executing the financial fundamentals. We’ll dive into the importance of liability protection, saving, and reducing debt. We’ll then share a critical part of building wealth for the future before Michael dives into a couple of listener questions from the mailbag to wrap up the episode. So, grab your peanuts and crackerjacks and let’s take the financial field! In this episode, we’ll share: How to make sure you can’t be beaten backward with your money. (7:34) How to become a world-class saver*. (11:22) Why you need to build liquidity. (17:06) *Guardian considers someone who saves at least 15 to 20% of their income to be a World-Class Saver Learn more: https://caffeinecashflow.com/ Contact Michael: https://www.westpacwealth.com/team/michael-schulte michael.schulte@westpacwealth.com 702-767-4897