Category: Retirement
The Climb (Ep. 51)

The Climb (Ep. 51)

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Life is full of mountains. Some are easy to climb, some are hard, and some seem impossible. 

But what can we learn from the people who dare to face these mountains and reach the summit? How do they overcome the obstacles, the risks, and the doubts that come with such a challenge? And how can we apply their lessons to our own lives? 

In this episode, Corey Heimensen explores the parallels between climbing mountains like Kilimanjaro and making life’s tough decisions. He dives into the mental strategies for facing challenges, the growth that comes from pushing past our limits, and the importance of adapting goals as life changes. Additionally, Corey emphasizes the value of partnership and support systems in achieving success, and the complexities of managing the aftermath of reaching our goals.

Corey discusses:

  • The idea of mountain climbing and its challenges, including physical and mental preparation
  • The challenges and routes of climbing Mount Kilimanjaro
  • The importance of mental preparation in both mountain climbing and life
  • The significance of having support and guidance in achieving goals and making important decisions
  • The negative impact of overconfidence in various aspects of life
  • The importance of financial planning and the potential consequences of relying solely on social security for retirement
  • The risks and challenges faced during the descent in mountain climbing and drawing parallels to life’s challenges and decision-making
  • And more!

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The Elimination of Hurry with Grace Heimensen (Ep. 50)

The Elimination of Hurry with Grace Heimensen (Ep. 50)

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We live in a fast-paced world, where everything seems to demand our attention and time. 

But what if we are missing out on something more important by being constantly busy and rushed? What if the key to a happier and healthier life is to slow down and eliminate hurry from our lives?

For the 50th episode of The WIN Podcast, Corey Heimensen brings back Grace Heimensen to explore the book “The Ruthless Elimination of Hurry” by John Mark Comer, examining the cultural obsession with speed and its impact on well-being. They dive into finding balance, the importance of rest, the effects of technology, and intentional living. 

Corey and Grace discuss:

  • The difficulty of finding balance in life
  • The influence of technology and social media on rest and the challenge of finding true rest in a hurried culture
  • Retirement and the urge to avoid feeling hurried in life
  • The impact of slowing down and making meaningful connections with others in everyday situations
  • The concept of enjoyable moments and how to extend and savor them
  • Mindfulness and living in the present moment
  • And more!

 

Resources:

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Navigating Healthcare Costs in Retirement: Strategies for Financial Wellness (Ep. 49)

Navigating Healthcare Costs in Retirement: Strategies for Financial Wellness (Ep. 49)

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Healthcare costs are one of the biggest expenses that retirees face, and they can vary depending on factors such as age, health, location, and lifestyle. 

Planning for these costs can be challenging, but also rewarding, as it can help you achieve your retirement goals and enjoy your golden years without worrying about unexpected medical bills.

In this episode, Corey Heimensen dives into the critical topic of healthcare costs in retirement. He breaks down estimated expenses while highlighting the importance of Social Security and Health Savings Accounts. Corey also touches on the impact of lifestyle choices and the benefits of preventative care, and he provides insights into managing healthcare costs through financial goals, considering inflation, and government support programs.

Corey discusses:

  • Healthcare costs in retirement and the fear associated with it
  • How media use scare tactics to draw attention to healthcare costs in retirement
  • The estimated healthcare costs for a couple in retirement
  • The role of Social Security as a piece of the retirement financial puzzle
  • The impact of healthy lifestyle choices and preventative care in managing future healthcare expenses
  • Health Savings Accounts and their potential benefits for managing future healthcare costs
  • How inflation and income/ increases can impact financial planning for healthcare costs 
  • And more!

 

Resources:

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Pre-flight Checks and Financial Planning (Ep. 48)

Pre-flight Checks and Financial Planning (Ep. 48)

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Ever considered the parallels between piloting a plane and navigating your finances? 

Buckle up as we unravel the connections between these seemingly unrelated realms. Whether you’re soaring through the skies or charting your financial course, one thing remains constant: the need for meticulous planning, sharp attention to detail, and the ability to gracefully adjust to unforeseen circumstances.

In this episode, Corey Heimensen draws parallels between aviation and financial planning. Using preflight checklists as an analogy, he emphasizes the importance of preparation, communication, and experience in navigating the uncertainties of both fields. Drawing inspiration from Captain Sully’s emergency landing, Corey highlights the significance of a solid plan during challenging times.

Corey discusses:

  • Parallels between preflight checks done by pilots and successful strategies in financial planning
  • Comparing the pilot’s exterior inspection of the plane to a financial advisor’s assessment of a client’s situation before moving forward
  • Captain Sully’s landing on the Hudson River and emphasizes the importance of being prepared for unforeseen circumstances
  • The importance of a preflight survey in aviation and how it can be applied to financial advising
  • The importance of controlling emotions
  • And more!

 

Resources:

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Winter Tennis Breakdown (Ep. 47)

Winter Tennis Breakdown (Ep. 47)

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What do tennis and finance have in common? 

More than you might think!

In both fields, unforced errors can have a huge impact on your performance and outcomes.

This week, Corey Heimensen explores the concept of unforced errors in finance, draws parallels between tennis and decision-making, and dives into the psychology behind our choices. He also emphasizes the importance of learning from mistakes, avoiding overconfidence, and planning for the future.

Corey discusses:

  • Unforced errors in tennis and golf, and how they relate to mistakes made in the investing and finance world
  • The US Open, the crowd, and the drink called ‘Honey Deuce’
  • The importance of evaluating mistakes and learning from them in order to improve in various aspects of life
  • The importance of understanding and not underestimating the risks associated with investments and financial decisions
  • The dangers of overconfidence and the inevitable market downturns
  • The importance of managing taxes, ensuring cash flow, and weathering market volatility for long-term success
  • And more!

 

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The 3 Curse Words from Corey’s Book (Ep. 46)

The 3 Curse Words from Corey’s Book (Ep. 46)

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Religion, politics, and money are three words that often produce strong emotions and opinions in people. 

These words are also closely connected in many aspects of our lives, from our social interactions to our economic decisions. 

How do we navigate these controversial topics in a respectful, informed, and beneficial way?

In this episode, Corey Heimensen analyzes three powerful words: Religion, Politics, and Money from his book “Stop Doing Dumb Things With Your Money.” Corey uses these words to describe the importance of making informed financial decisions, the power of faith in investing, and the significance of enjoying one’s wealth. Additionally, Corey also emphasizes the importance of education and shares how crucial it is to be optimistic in life. 

Corey discusses:

  • The concept of faith and how it relates to investing and relationships
  • The relationship between optimism and happiness
  • The significance of being an opportunist and seizing opportunities
  • The importance of spending and enjoying money and assets
  • The long-standing tradition of avoiding discussions about politics
  • And more!

 

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Giving Tuesday (Ep. 45)

Giving Tuesday (Ep. 45)

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Giving is one of the most powerful ways to make a positive impact in the world. 

Whether it’s donating money, time, or skills, giving can help improve the lives of others and ourselves. 

Giving can also be a source of joy, fulfillment, and gratitude. But how do we give effectively and wisely? How do we balance our own needs and goals with our desire to help others? 

In this episode, Corey Heimensen explores the power of giving and how it can shape our financial decisions and personal growth. He discusses the concept of “Giving Tuesday” and emphasizes that giving should not be confined to a single day or cause. Additionally, Corey also discusses Donor-Advised Funds as a flexible way to control donations and receive tax deductions.

Corey discusses:

  • The concept of Giving Tuesday, a movement where people are encouraged to be charitable and give to different causes
  • The value of charity and the importance of teaching and learning about being charitable from an early age
  • A plan to donate $25 to charity for every client who signs up for electronic delivery of paper in 2024
  • The importance of education and its power to improve lives and society
  • The perspective on giving and how it doesn’t have to be at the level of billionaires
  • The concept of a Donor-Advised Fund, where individuals can donate money to a fund and control its distribution to different charities
  • And more!

 

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The Gauntlet with Zed Heimensen (Ep. 44)

The Gauntlet with Zed Heimensen (Ep. 44)

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One of the most fascinating aspects of financial planning is how it can be related to almost anything in life. 

Whether it is music, art, sports, or movies, there are always lessons and insights that can be drawn from different domains and applied to our financial decisions.

In this episode, Corey Heimensen is joined by Zed Heimensen, financial advisor at Heimensen Wealth Advisors, to explore the adaptability of finance. Drawing inspiration from Beethoven and the movie National Lampoon’s Christmas Vacation, they explore the importance of managing what we can control and planning for the unexpected. They also emphasize the value of hard work, surrounding ourselves with the right people, and diversification in financial planning.

Corey and Zed discuss:

  • How Beethoven’s structured musical form can be related to financial efficiency and the importance of setting goals and having a plan
  • The significance of Beethoven’s gradual loss of hearing and how it can be related to overcoming challenges in financial planning
  • The importance of managing risk in various aspects of life
  • The importance of passion and hard work in achieving greatness
  • Financial lessons from National Lampoon’s Christmas Vacation, such as not depending too much on one source of income
  • The concept of classics and how it relates to judging success in financial planning
  • And more!

 

Resources:

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About our guest:

Zed Heimensen, a graduate of Morningside University, began working at Heimensen Wealth Advisors in May 2022. Zed graduated with a bachelor’s degree in Finance while serving as the president of the university’s investment club. During his time at Morningside, Zed gained extensive knowledge of the finance industry through internships and high-level coursework.

Zed recognizes the importance of understanding each client’s life story and how their unique paths can impact their short- and long-term financial goals. As a financial advisor, Zed prepares individualized financial plans while fostering genuine client relationships. He holds Securities Registrations 7 and 66.

Outside of work, Zed enjoys golfing, reading, and spending time with his family and friends. Zed is also an avid sports fan, hoping to see the Vikings win a Super Bowl at some point in his life.

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The Joys of Organization (Ep. 43)

The Joys of Organization (Ep. 43)

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Have you ever thought about how the increase in the occupation of storage units can relate to the need for financial organization?

The truth is that the clutter in our storage units often mirrors the chaos in our financial affairs.

In this episode, Corey Heimensen touches on the relevance of organization in one’s financial life. He draws a parallel between the clutter in storage units and the financial mess many people have, emphasizing the importance of seeking help from trusted advisors to get organized.

Corey discusses:

  • The popularity of storage units and their surprising statistics
  • The seven popular reasons people rent storage units
  • The correlation between the size of the storage unit rented and the length of stay
  • The importance of organizing finances and drawing parallels with the Marie Kondo method of keeping things that bring joy
  • The stress caused by financial disorganization and the need for intentional financial planning
  • How a financial advisor can assist in organizing financial goals
  • The need for a genuine connection and trust with a financial advisor
  • And more!

 

Resources:

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Succession – Streaming and in Real Life (Ep. 42)

Succession – Streaming and in Real Life (Ep. 42)

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The long-term success of a business depends on how smoothly it transitions from one generation to the next.

Therefore, having a well-designed succession strategy is crucial.

What other factors should we consider?

In this episode, Corey Heimensen tackles the topic of succession for families and business owners. Corey relates the series “Succession” aired on HBO to real life, and talks about the importance of having a solid plan and effective communication, along with the need to involve your family in the process.

Corey discusses:

  • The TV series “Succession” and how it relates to real succession stories 
  • The challenges faced by family-owned businesses in transitioning from one generation to the next
  • The need for effective communication in the succession planning process
  • The process at Heimensen Wealth when it comes to succession planning
  • Why it is important to prepare someone before taking over a business
  • The significance of having difficult conversations during the succession process
  • And more!

 

Resources:

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