Category: Investing
The Top Client Questions and Conversations From the Last 90 Days (Ep. 39)

The Top Client Questions and Conversations From the Last 90 Days (Ep. 39)

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Navigating the world of wealth management and financial planning can often feel overwhelming, as there are numerous tax strategies, investment options, and estate planning considerations. 

What are the latest worries of our clients? 

In this episode, Corey Heimensen touches on some of the recent client conversations and the most common questions he is asked. Corey also talks about tax-free retirement accounts, trust benefits and more.

Corey discusses:

  • The misconception of special tax-free retirement accounts only available to the rich
  • What a trust is and its purpose as a planning tool
  • Investing in an era of high rates CDs
  • His opinion about listening to financial advice from famous personalities such as Dave Ramsey 
  • The different factors to consider when deciding if buying land is a good investment
  • The importance of open communication between financial advisors and CPAs

Resources:

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Book Club – Part 2 (Ep. 38)

Book Club – Part 2 (Ep. 38)

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Success is often attributed to a combination of passion, perseverance, and a relentless pursuit of goals.

Something that Angela Duckworth perfectly explains in her book “Grit.”

Ready to get inspired with the second part of the book reviewing segment?

In this episode, Corey Heimensen introduces us to Angela Duckworth’s book “Grit: The Power of Passion and Perseverance,” which explores the concept of passion and perseverance leading to long-term success. He emphasizes the importance of setting smaller goals along the way to achieve a big ultimate goal. Additionally, Corey touches on the significance of having a life philosophy and making a positive impact on the world.

Corey discusses:

  • An analysis of the word “grit”
  • His own experience with grit and how it varies depending on the task or goal
  • The importance of having an ultimate goal and a life philosophy that serves a common purpose and benefits others
  • Personal life philosophies emphasizing the desire to leave the world a better place and provide a better lifestyle for future generations
  • The importance of long-term financial planning and enjoying the rewards of hard work
  • How passion can be found in all walks of life, not just tied to money
  • And more!

Resources:

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Book Club – Part 1 (Ep. 37)

Book Club – Part 1 (Ep. 37)

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Having a solid financial plan is essential for achieving financial freedom. And we understand that many require assistance to develop a successful one. 

Thankfully, there are numerous books available to help us comprehend the importance of financial planning and guide us on how to get started. 

Today, we dive deep into one such book.

In this episode, Corey Heimensen shares 11 takeaways from the book “The One Page Financial Plan” by Carl Richards and leads an exercise on creating a one-page financial plan. 

Corey discusses:

  • 11 key takeaways from “The One Page Financial Plan” book
  • Why people need to think about and identify “Why is money important to you?”
  • Reasons why you shouldn’t obsess over goals
  • The importance of being aware of how you spend and what you’re spending on every month
  • Why you should invest like a scientist
  • Creating a one-page financial plan in three steps
  • The importance of estimating cash flow needed in retirement and types of debts to include in a one-page financial plan
  • How having a financial advisor can be a game changer for your financial future 
  • And more!

Resources:

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Vision, Strategy, and Structure with Bill Harmsen (Ep. 36)

Vision, Strategy, and Structure with Bill Harmsen (Ep. 36)

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Do you know what finances and sports coaching have in common?

Both require careful planning, strategic thinking, and a long-term vision.  

In this episode, Corey Heimensen chats with Bill Harmsen, coach at Dordt University, about achieving long-term success in coaching. Bill emphasizes the importance of having a strong vision, strategy, and structure, and that personal and academic growth for athletes is just as important as winning. Corey and Bill also talk about the importance of competitiveness in life and the need to enjoy the journey.

Bill discusses:

  • His background in coaching
  • Why vision, strategy, and structure are important in achieving long-term success
  • The role of long-term planning in coaching and how he learned this lesson in his first year of coaching
  • The impact of the Name, Image, and Likeness (NIL) policy and the transfer portal on college sports
  • The importance of finding an outlet for competitiveness after retirement 
  • His approach to leadership and how he encourages his team to develop leadership skills
  • The challenges of managing people with different personalities and emotions
  • And more!

Resources:

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The Clampett Connection (Ep. 35)

The Clampett Connection (Ep. 35)

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Sudden wealth can have a profound impact on our financial decisions and overall well-being, regardless of whether it comes as an inheritance or other unexpected windfall. 

What should we do to properly manage unexpected wealth?

In this episode, Corey Heimensen delves on sudden wealth, specifically inheritance, using the Beverly Hillbillies show as an example and how it can influence financial decisions. He touches on the concept of lifestyle inflation and the importance of seeking professional advice when dealing with sudden wealth.

Corey discusses:

  • The recurring issue of the debt ceiling and how it can cause panic among individuals
  • Inheritance as an example of sudden wealth and how it can affect individuals and their financial decisions
  • Statistics on the average amount of inheritance received and how people spend it
  • How some people are afraid to spend or invest their inheritance and how to approach the situation
  • The concept of lifestyle inflation and how it can affect people’s spending habits
  • How people may spend lavishly on things without considering the consequences
  • The importance of having a professional team of advisors 
  • The importance of setting restrictions/safety nets on investments or inheritance to keep people on the right path, and how professionals can help with this
  • Why having financial literacy in banking, credit cards, and bill payments is essential for long-term success
  • And more!

Resources:

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Raising The Bar with Zach Springer (Ep. 34)

Raising The Bar with Zach Springer (Ep. 34)

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In today’s world, the pursuit of higher education and professional aspirations takes individuals down various paths. 

That is why, this time, we’re asking a recent graduate to tell us about his experiences.

In this episode, Corey Heimensen is joined by Zach Springer, a recent graduate from the University of Iowa, to share his journey to law school and the process of preparing for law school admissions. They also touch on the comparison between the successful mind of an attorney versus a medical professional, the role of emotion in decision-making, and the importance of planning and perseverance in achieving long-term goals.

Corey and Zach discuss:

  • Zach’s path to law school, including his studies in political science and economics
  • The LSAT and how it tests logic rather than knowledge of the law
  • Zach’s interest in economics 
  • The efficiency of markets and how it can be difficult for people to take the emotion out of their decisions
  • The importance of trusting the process in financial planning and not changing objectives mid-flight 
  • Zach’s process of preparing for law school admissions and reveals his top three choices
  • The experience of meeting George Kittle, a famous Hawkeye football player who now plays for the 49ers
  • Their top three college bars and their most memorable experiences
  • And more!

Resources:

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About Guest:

Zach Springer is an incoming J.D. candidate at Harvard Law School.  He will begin his legal education in the fall of 2023. Zach graduated summa cum laude from the University of Iowa in May of 2023 with degrees in Economics and Political Science, as well as a minor in Philosophy. Along with participating in the Honors and Presidential Scholars programs, he served as the President of the Phi Alpha Delta Pre-Law Fraternity. Zach was also an Undergraduate Student Government Senator for 2 years and mentored students in the political science and economics departments.

Zach’s mission-based goals, combined with his genuine enjoyment of learning about the law and collaborating with those around him, have confirmed his desire to enter the field of law. He hopes that the experiences he brings will allow him to have a positive impact on those around him and effectively contribute to the practice of law. Working with and learning from other students and faculty in his academic career and expanding his knowledge through internships and part-time opportunities have convinced him of his desire to work with entrepreneurs and other community businesses through legal work.

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Parallels (Ep. 33)

Parallels (Ep. 33)

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Throughout our lives, we will always be “in between” periods.

During these, we will face many struggles and points where our decision-making will be crucial for our success. We have to make the best of situations by focusing on “What’s Important Now”.

In this episode, Corey Heimensen plays a card game called “Yablon” (also known as “Red Dog” or “In Between”) to demonstrate the parallels between the game and life decision-making, particularly in finance. Corey chats about the concept of being “in-between” life events and the importance of planning and enjoying life.

Corey discusses:

  • The game Yablon (also known as Red Dog or In Between)
  • What Yablon teaches us about decision-making, risk management, diversification, risk-return in finance, and life in general
  • How decision-making is crucial for life
  • The importance of enjoying life and having fun experiences without stressing about the next hurdle
  • And more!

Resources:

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Turning Tragedy Into Support for Others with Jessica and Travis Remme – Part 2 (Ep. 32)

Turning Tragedy Into Support for Others with Jessica and Travis Remme – Part 2 (Ep. 32)

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The pain felt by the loss of a child is indescribable.

That is why seeking support is essential, even more so from people who really know what you feel.

In this episode, Corey Heimensen continues the conversation with Travis and Jessica Remme. This time they go in-depth regarding the Oaklyn Foundation and what they do to help parents who have lost their child.

Travis and Jessica discuss:

  • Details about the Oaklyn Foundation and the events they organize to help families
  • The resources and support they give to families who have lost children, including hand-crafting weighted bears
  • The importance of talking about loss and how their nonprofit has helped over 760 families in 34 states and Canada
  • The power of sharing personal stories and stepping into uncomfortable opportunities to help others 
  • The hard work and dedication required to achieve success
  • Corey’s commitment to supporting the Oaklyn Foundation
  • Their next big project with the foundation
  • And more!

Resources:

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About the Oaklyn Foundation:

Oaklyn was born on January 4, 2018, after an amazing pregnancy! What Travis and Jessica Remme didn’t know was that Oaklyn was born with an extremely rare Hemangioma on her liver that ruptured due to the pressure of delivery. After 10 hours, many blood transfusions, her heart stopping more times than they could count, and an unsuccessful surgery, they had to make the decision to let her go live with our Lord and Savior. This was the hardest decision of their lives.

What they found after the loss of their little girl was that there was little to no support for grieving families. In years past, infant and child loss was something that was kept secret, never to be discussed or talked about. Having walked this painful journey themselves, they discovered firsthand that talking about your child and celebrating them daily mends the heart a bit. After a time, they talked about Oaklyn with joy and pride, instead of pain and hurt. Their hope is that the Oaklyn Foundation can be that source of comfort for families during this difficult time in their life. They have walked this path, share the same pain in their hearts daily and understand a bit of what families are going through. They are here for you and would love to help your honor and remember your sweet child.

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Turning Tragedy Into Support for Others with Jessica and Travis Remme – Part 1 (Ep. 31)

Turning Tragedy Into Support for Others with Jessica and Travis Remme – Part 1 (Ep. 31)

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Life can sometimes take an unexpected turn that can leave a lasting impact on us.

Hearing about the experiences of others can provide us with valuable insight and help us cultivate the proper mentality going forward.

In this episode, Corey Heimensen sits down with Jessica and Travis Remme. They share the story behind the sudden death of their daughter Oaklyn. Additionally, they talk about what motivated them to start the Oaklyn Foundation which aims to support couples who have lost a child.

Travis and Jessica discuss:

  • Their background and some details about the Oaklyn Foundation
  • The sudden loss of their newborn daughter, Oaklyn
  • The aftermath of the situation and how it mentally affected them 
  • The importance of faith
  • How the loss of their daughter made them get more united as a marriage
  • The surprising divorce rate after the passing of a child
  • The importance of seeking help
  • And more!

Resources:

Connect with Jessica and Travis Remme:

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About the Oaklyn Foundation:

Oaklyn was born on January 4, 2018, after an amazing pregnancy! What Travis and Jessica Remme didn’t know was that Oaklyn was born with an extremely rare Hemangioma on her liver that ruptured due to the pressure of delivery. After 10 hours, many blood transfusions, her heart stopping more times than they could count, and an unsuccessful surgery, they had to make the decision to let her go live with our Lord and Savior. This was the hardest decision of their lives.

What they found after the loss of their little girl was that there was little to no support for grieving families. In years past, infant and child loss was something that was kept secret, never to be discussed or talked about. Having walked this painful journey themselves, they discovered firsthand that talking about your child and celebrating them daily mends the heart a bit. After a time, they talked about Oaklyn with joy and pride, instead of pain and hurt. Their hope is that the Oaklyn Foundation can be that source of comfort for families during this difficult time in their life. They have walked this path, share the same pain in their hearts daily and understand a bit of what families are going through. They are here for you and would love to help your honor and remember your sweet child.

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Blockers and Other Tales From the Airport (Ep. 30)

Blockers and Other Tales From the Airport (Ep. 30)

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Have we ever paused to reflect on the uncomfortable situations we’ve encountered during our travels and pondered the lessons they might offer us about life? 

In this episode, Corey Heimensen recounts the tale of when he was recently traveling for work and in an effort to save a few bucks, took a route that included multiple connections, which resulted in a lot of travel time and time to witness things. Drawing on his experience from the trip, he categorized different types of people, the situations they are trying to control and stressed the significance of focusing on what we can control.

Corey discusses:

  • Staying on track when saving for retirement and other financial objectives by drawing a parallel with an airline pilot navigating the turbulence
  • The different categories of people he encountered and how they try to control situations
  • The human nature of wanting to control everything, and how this can be counterproductive, especially in situations where there is a lack of understanding
  • And more!

Resources:

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