In this episode, we explore the fascinating journey of adaptation in both business and personal careers. We delve into how successful business models evolve to meet changing market demands, technological advancements, and societal shifts. Drawing parallels, the discussion shifts to the personal evolution from the height of one’s career to the transition into retirement.
Discover strategies for staying ahead in the business world and learn valuable insights on how individuals can gracefully navigate the transition from a bustling career to a fulfilling retirement. Join us for an engaging conversation on thriving through change and ensuring sustained success in both business and life.
In an ever-evolving world, resilience can become our greatest strength. Unexpected changes are not just obstacles; they are opportunities to showcase the strength of the human spirit.
This episode heralds a new era for the WIN Podcast: a shift to more concise episodes, filled with actionable insights ready to inspire action across generations. As we embark on this fresh path, we’ll delve into the multifaceted aspects of an investor’s journey, showing the way forward with clarity and purpose.
Have you ever wondered how to differentiate between risk and exposure when it comes to your investments?
This week, Corey Heimensen in a new episode of The WIN Podcast, explores the crucial distinctions between risk and exposure in the realm of financial planning. He dives into the importance of understanding these concepts and examines the mindset for mitigating risks and managing exposure to ensure a secure financial future.
Corey discusses:
Understanding the fundamental difference between risk and exposure in financial planning
Exploring the significance of managing exposure to potential risks in investments
Strategies for quantifying and assessing the magnitude of outcomes in financial decision-making
The role of professional guidance in navigating the complexities of investment risks and exposure
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
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
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
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.
The worlds of music and finance often intersect in life.
This intersection can offer a valuable perspective to explore our connection with money, happiness, and the pursuit of our aspirations.
In this episode, Corey Heimensen and Aric Johnson play a game where they relate song lyrics to finances and life as a fun tribute to Aric’s enjoyment of music for his last episode on the podcast.
Additionally, Aric shares about his next venture with Boys Town in Omaha to work with at-risk youth. Corey says goodbye to Aric and welcomes his new producer, Bill Tucker.
Corey and Aric share:
The idea that money can not buy love, but can provide security and joy
The concept of inheritance and the importance of not spending it, but creating a legacy
The lyrics of the song “Working for the Weekend” by Loverboy and the concept of living paycheck to paycheck
The lyrics of the song “Billionaire” by Bruno Mars and Travie McCoy, focusing on the concept of having material wealth and the importance of having a realistic plan
The complications and challenges that come with accumulating wealth
The importance of setting goals and saving a portion of your pay to reach those goals
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
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
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
