Tag: Investing
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!

 

Resources:

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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!

 

Resources:

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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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Lyrical Finance (Ep. 41)

Lyrical Finance (Ep. 41)

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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
  • And more!

Resources:

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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 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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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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The Dirty Truth (Of Agriculture) with Wes Koedam (Ep. 17)

The Dirty Truth (Of Agriculture) with Wes Koedam (Ep. 17)

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The world is not the way it used to be, in a good way.

The technological advances we see today have made many processes easier, especially in agriculture.

In this episode of The WIN Podcast, What’s Important Now, Corey Heimensen chats with Wes Koedam to discuss the agricultural field and the changes he has seen throughout the past few decades in the industry. Additionally, they explain how crucial it is to plan for retirement.

Wes discusses:

  • His background in the agricultural industry and how it has changed in the past 30 years
  • The ways in which corporate markets set the value of agricultural products
  • His view on ethanol and wind turbines in farming
  • The risk of borrowing money from banks for the agricultural industry
  • His thoughts on retiring and why it was hard at first, and the importance of having someone you trust in the process
  • And more!

Resources:

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The Moral Assessment (EP. 16)

The Moral Assessment (EP. 16)

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People often think, that when investing, we should only care about the economic returns.

But the truth is these investments can have negative consequences in other aspects that could impact employees and the environment.

In this episode of The WIN Podcast, What’s Important Now, Corey Heimensen explains why it’s crucial to consider our values before making any financial decisions, as these could negatively affect others.

Corey discusses:

  • How our morals can affect our investment strategies
  • The role of Environmental, Social, and Corporate Governance (ESG) and Biblical Responsible Investing (BRI) when it comes to incentivizing projects that don’t harm people and the environment
  • The importance of getting to know your clients’ values before providing advice 
  • The importance of communication between advisors and clients
  • And more!

Resources:

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Here’s How You Can Protect & Manage Your Finances (Ep. 9)

Here’s How You Can Protect & Manage Your Finances (Ep. 9)

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In finances, there are eight rules we all need to know and follow — no matter our age!

Referring to the 1977 sitcom, “Eight Is Enough,” this week, Corey Heimensen provides you with a list of eight easy and achievable concepts you can do to protect and manage your finances.

Corey discusses:

  • The importance of paying yourself first and incorporating it into your routine
  • Why pay your bills on time, and what are some tools you can use to make it simple
  • How being optimistic can help you in every aspect of your life
  • The importance of being patient with your finances
  • And more!

Resources:

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